Helicopter!Review
This indicator automatically calculates the best trade entry based on volume and real-time volatility. After the algorithm analyzes the current characteristics of the market, an entry signal is placed on the chart. As a result, the trader can be sure that the signal is based on data analysis. One of the key elements is reverse transactions. A long or short position can be stopped either at a profit or at a small loss without compromising the potential profit.
!Risks
The market is unstable, and it is impossible to know what the future holds for it. The only way to manage risk. You can limit the loss by setting a stop loss of 1% from the entry point. Take profit is recommended to set with a ratio of 1:1, 1:2,1:3, with partial fixation of 40%, 30%, 30%!
!Trading recommendations
Trades are opened when a green arrow appears, selling when a yellow arrow appears. Be sure to wait for the candle to close and the signal to appear (the signal may flash when the candle is formed). Recommended timeframes: 1min, 3min, 15min. The indicator is designed for scalp trades and intradays!
!Technical part
The indicator is based on the EMA 20 and EMA 200 moving averages. It is also based on the open and close of past days, weeks, months.
RSI are used.
RSI is a classic oscillator built on the basis of calculating the relative rate of change in asset prices over a given period.
Additional tools: volume and volatility.
NO REPAINT!
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Denial of responsibility
The information contained in my Scripts/Indicators/Ideas/Algorithms/Systems does not constitute financial advice or an offer to buy or sell any securities of any kind. I do not accept liability for any loss or damage, including but not limited to any loss of profits that may arise directly or indirectly from the use of or reliance on such information.
Daytrading
TMO ScalperTMO - (T)rue (M)omentum (O)scillator) MTF Scalper Version
TMO Scalper is a special custom version of the popular TMO Oscillator. Scalper version was designed specifically for the lower time frames (1-5min intraday scalps). This version prints in the signals directly on top of the oscillator only when the higher aggregations are aligned with the current aggregation (the big wheels must be spinning in order for a small wheel to spin). The scalper consist of three MTF TMO oscillators. First one is the one that plot signals (should be the fastest aggregation), second serves as a short term trend gauge (good rule of thumb is to us 2-5x of the chart time frame or the first aggregation). The third one (optional) is shaded in the background & should only serve as a trend gauge for the day (usually higher time frames 30min+).
Time Frames Preffered by Traders:
1. 1m / 5m / 30m - This one is perfect for catching the fastest moves. However, during choppy days the 1min can produce more false signals..
2. 2m / 10m / 30m - Healthy middle, the 2min aggregation nicely smooths out the 1min mess. Short term gauge is turning slowly (10min for a signal to confirm).
3. 3m / 30m / 60m - This TF is awesome for day traders that prefer to take it slow. Obviously, this combination will produce far less signals during the day.
Hope it helps.
[co.n.g.] ADR 5/10/14/20Average Daily Range (ADR) over 5/10/14/20 Days
What it is
One of the oldest measurements of price volatility that is being used in technical and statistical trading is the range of a specific period of past days to estimate probability of chances, risk and price movements, as seen f.e. in
Molodovsky, N. (1967). Building a Stock Market Measure—A Case Study. Financial Analysts Journal, 23:3, 43-46 , DOI: 10.2469/faj.v23.n3.43.
Problem
After having tried all available community scripts I've encountered various indifferences, especially since Pine v5.
First, the anchor period changed, when I've switched between regular and extended trading hours.
- This meant, that the anchor switched between the official open of the day and the first bar of a new day beginnig at 00:00 UTC (or the corresponding timezone).
Second, thus in some scripts also changed the calculated average range, including or excluding pre market and after hours.
And therefor third, in many cases the distance between open and ADR high/low was indiffferent, putting one closer and the other further away.
Why is that?
After having tried seven different modes of calulation - from ta. to array, it appeared that especially since Pine v5 the calulation is lagging when calling
the request.security function and is thus rendering the calculations indifferent.
Especially the open is lagging and plotting delayed, about 15 minutes on a M1-chart or about 45 minutes on a M15 chart, which made id difficult to spot open (test) drives
- as f.e. described in Dalton, J. F., Jones, E. T., & Dalton, R. B. (1990). Mind over markets: power trading with market generated information. 1st edition . Probus. -
and estimating extremely strong or weak open moves.
While switching between regular and extended intraday charts, the open was either calculated on the open as request of "D" (open of the regular session)
and "1440" (which means full intraday since 00:00 UTC or the corresponding timezone), leading to undesired anchoring.
After having tried about five different anchoring periods and comparing the adr to @TradingView 's stock screener, there was no proper calulation or plotting possible,
if not partially hardcoded (being the least desired, elegant or flexible method).
Visualizing the problem
As described in the picture:
@sherwind 's ADR is plotting entirely wrong! I couldn't even figure out (even the source is available) whre the problem is rooted.
@treypeng 's ADR is anchored properly, but unfortunately the calculation is wrong.
Originality
As evident in the attached picture - and you are able to compare this to @TradingView 's stock screener - in this script as well the ADR is calculated PROPERLY
as well as the anchoring is set PROPERLY within the first tick of the session.
As matter of fact, you don't have to examine different timeframes, charts or sessions simoultaneously to see the correct levels and
you're able to ease observations and focus on your trading.
Innovation
There is no innovative approach, as described above, simply because this statistical approach is around since the 1960's.
Considering coding, neither is, but it is properly calculated and anchored.
What this script does
Anchoring at the first tick of the new New York session
Plotting the actual - not the past nor future - average day range (gray lines in picture)
Plotting the actual - not the past nor future - 75% average day range ( silver lines in picture)
Vizualising ADR breakouts by colouring the backround green (long breakout) or read (short breakout)
Selection methods
Keeping it simple stupid, as of now:
Abiliy to chose between 5/10/14/20 days
Additional
Theory says, that we are staying within the ADR of 75% every day.
_
Alas, there are some exceptions.
If price is breaking out of the ADR, we are likely to move in this direction for the rest of the day.
If price has broken out of the ADR on the previous day, ist highly unlikely to expect another ADR breakout day,
which doesn't mean that there might not appear a strong or weak second day.
Notes
Designed for intraday stock trading of the U.S. market.
Best (and easiest) chances are to be spotted in special conditions.
//Cheers,
//Constantine
NYSE Market Sentiment Oscillator - Intraday w/ alertsThe ULTIMATE market sentiment indicator that combines the sentiments from the MARKET INTERNALS : $ADD ( NYSE $ADV minus $DECL ), $VOLD ( NYSE $UVOL minus $DVOL ) and $TICK ( NYSE Cumulative tick ). Sentiment is based on calculating the crossovers of moving average pairs for each of the market internals. As a result, 3 corresponding signal lines are generated + 1 combined Market Sentiment Oscillator (aka MSO) signal line.
**Important** This indicator is only meant to be used for intraday 1min-5 min timeframe only *** It may not function at higher timeframes without updating some moving average periods.
WHAT IS IT SHOWING?
Each signal lines represents the trend of the 3 market internals (TICK, ADD, VOLD). If signal line is above zero, it is in a bullish trend; below zero, bearish. The oscillating frequency of these lines are dependent on the length of moving average pairs of your choosing. A combined MSO signal line shows the combined trends of those 3 market internals, hence it represents real time market sentiment of the NYSE.
FEATURES
There are 2 display modes for this indicator:
1) On a separate pane
- in this mode, the signal lines can be toggled to oscillate along the zero line
2) On the price chart
- in this mode, the signal lines can be toggled to oscillate along the OHLC line of the price chart
- comes with Nadaraya-Watson Envelope and ATR bands
BUY/SELL SIGNALS AND STRATEGIES
By default, this indicator comes with two day trading strategies and offers long and short signals with alerts. These strategies attempts to leverage on the oscillating nature of market price movement on major NYSE indices, such as SPY, SPX, QQQ, NAS, all of which have high correlation with the market internals. However, please note that these signals offers no guarantee to profitability, so use at your own risk.
BACKGROUND COLORS SIGNIFYING TRENDS
There are options to display the background colors in 2 colors and shades.
1) Short-term sentiment
- Bright green = ADD / VOLD / TICK all in up trend
- Dimmed green = ADD / VOLD in up trend, but not TICK
- Bright red = ADD / VOLD / TICK all in down trend
- Dimmed red = ADD / VOLD in down trend, but not TICK
2) Trend Convergence
- Green = ADD / VOLD / TICK all bullish
- Red = ADD / VOLD / TICK all bearish
3) MSO
- Green = MSO bullish ( MSO signal line > 0 )
- Red = MSO bearish ( MSO signal line < 0 )
MARKET INTERNALS REAL-TIME DATA TABLE
A data table can be toggled on / off that shows the real-time sentiment and values of the three market internals. It may be useful in making quick trading decisions. The table cells are colored according to their corresponding trends.
Ichi-Price WaveWelcome to the Ichi-Price Wave. This indicator is designed for day trading options contracts for any ticker, using a number of indicators — Ichimoku Cloud, Volume-Weighted Average Price, Stochastic Relative Strength Index, Exponential Moving Average (13/48) — and calculating how they interact with each other to provide entry and exit signals for both Calls and Puts on normal days. ****Read the Important Information section before opening any positions based on this indicator. (Also *NFA)
The general concept is that you, the trader, are a Surfer 🏄🏾 who rides the best waves in deep water until it gets dangerous.
Emoji storyline: The 🏄🏾 emoji (Call or Put, depending on the color of its Green or Red label, respectively) indicates an upcoming *potential* entry that, for a number of reasons, may be disregarded. (See: Important Information section below). And just as there are no certainties in the stock market itself, the tiered exit signals are ranked by low 🐬, medium 🦈 and high risk 🦑 tolerance. (In other words, it's relatively safe to surf with dolphins around, but there's the off chance they even strike trainers and become aggressive. It's more dangerous to swim with sharks. And on the unlikely, rare occasion you see a literal, giant, mythical, ship destroying Kraken 😬 ... you definitely need to get out of the water.
Surfing for as long as possible reaps the greatest rewards — but risk/reward are to be considered for entries and exits. Exiting every time you see a 🐬 (E1) should secure profits nearly 100% of the time, but they'll be very minimal. Whereas surfing til you reach a Kraken 🦑 (which will not even appear on most Price Wave cycles) would reap the most rewards. (NFA: I recommend considering sharks 🦈 as an exit point for the majority of positions, and perhaps only keeping a few runners open with the hopes of finding that shiny Kraken. (On the non-Emoji chart, the low, medium and high risk exits are named E1, E2 and E3, respectively. Got to the indicator's Settings > Inputs > then toggle EMOJIs ON/OFF)
Boring stuff: The entry 🏄🏾 signals are triggered by multiple conditions that must be all true. For Call entries, one of the necessary conditions is that the RSI's K must be maximum 10 (this can be changed in default). This, along with another condition where current price must be below the VWAP Lower Bound 1, serves as a great reference point showing the stock price is currently uncomfortable where it is and may likely soon snap back closer to the VWAP, perhaps even to the other side due to a pendulum effect.
Important information
Relying on those two factors for setting entry and exit points are great for normal days. (Normal, as in the ticker price bounces within a channel (e.g., ≤3% + or -) that's trending slightly bullish or bearish depending on greater market trend). But there are abnormal days where news catalysts (e.g., CPI data, CEO scandals, unexpected company data release, etc.) trigger FOMO and FUD, ultimately rendering the logic behind most indicators non applicable (e.g., RSI's "buy when oversold"). On the chart, this indicator accounts for this with two measures:
One, you should only "Surf" in the water. That is, there are two bands — Shallow and Deep Water. Any "Surf" emojis where price action is outside of the water should be ignored**. Two, there are additional EMOJIs that show you "Bearish trend" ⛈ and "Bullish trend ☀️. (Story time again: You obviously shouldn't surf in thunder and lightning. But also, surfing in the blistering sun with no clouds in the sky during a heatwave is also dangerous to your health.)
You can use these two measures to disregard the "surfers" suggesting you join them in opening a position in the suggested direction. And surfers followed by Cloud EMOJIs — 🌤️ (Put) or 🌧️ (Call) — can be used as "perfect entry" points. (The clouds represent weather being less extreme and better for surfing).
(**While these should mostly be ignored, these have not been muted because there is the possibility of a very strong turn around if you happen to catch the last one (which is not ideal for risk-averse traders). Use other indicators, such as the MACD and trend lines, to find potential bottoms (or tops) as price action plunges (or soars) due to abnormal news circumstances.)
Entry and exit buffers
At the beginning of each day, most indicators usually are not immediately calibrated correctly due to premarket trading and open market (at least to the degree that the day's sentiment can be best read from them due to the amount of volatility). What I recommend when using this indicator is disregarding signals during the first 15 minutes (or possibly 30 minutes) of market open to get the best results. And also, considering this indicator is meant for day trading (i.e., not holding positions overnight), disregarding ENTRY signals for the last 45 minutes of the trading day could give yourself enough buffer on the back end for exiting comfortably.
RSI entry
Preparing for an entry when you see a surfer is recommended, but actually opening the position when you see a 🌤️ (Put) or 🌧️ (Call) would yield best results and avoid misfires — particularly when those two cloud EMOJIs are signaled when the RSI is overbought and K is at least 95 (Puts), or oversold and K at maximum 5 (Calls). (Story time logic: The cloud eclipsing the Sun means it's cooling off and better for surfing. And the rain cloud no longer having lightning means the "bearish" storm is possibly soon over).
Delta and the Greeks
You should experiment yourself, but keep in mind that this is for capitalizing off of a day's minor price swings (≤3% + or -). Entering a same day expiry contract that's deep OTM is not going to work with this indicator (even if you enter at a surfer 🏄🏾 and exit at a Kraken 🦑) because the price wave from one end to the other won't be enough to compensate for the other Greeks working against you. Use another indicator (or insider knowledge ... Just kidding, that's illegal, don't do that) if you want to buy those kind of contracts.
I personally purchase contracts w/ minimum 80% Implied Volatility and somewhere between 20-40 Delta. Having a nice range for yourself with these factors, depending also on the size of your own portfolio and the risk tolerance you have, will determine how much you're able to capitalize off successful entry and exits.
Tips
• I set stop losses 5-10% depending on the ticker. (e.g., $TSLA's volatility may require SL closer to 10% whereas using it on $SPY, a 5% could suffice). This is in addition to ignoring entry signals that don't meet the aforementioned two requirements (i.e., it's risky to Surf in shallow water, and you shouldn't try to Surf at all outside of the water, ref. Band 2 and outside of Band 2). Remember, this is the stock market — not the casino. We rely on strategy and risk management — not hope.
• It's recommended you use time intervals ≤ 5 min. (I use 1 minute and 5 min)
• Liquidity . Using these signals on a ticker with low liquidity (particularly if you enter on the Ask side), can reduce your profits to 0% or even to a loss even if you have a perfect entry and exit. I always point to SPY as the optimal bid-ask spread, but keep that in mind.
What's with the name "Ichi-Price Wave"?
The "Ichi" gives credit to Japanese journalist Goichi Hosoda, whose indicator I used in conjunction with the 13/48 Exponential Moving Averages to create some of the exit signal conditions (e.g., E2🦈). That E2 condition is: Signal the first time the price intersects the Ichimoku conversion line *after* it has entered the VWAP UB/LB channel on one end and has exited on the opposite end). And it's named "Price Wave" because it's a literal price wave, which is where the fun surf narrative comes in. Also, "Price" doubles as me naming it after myself (in a less pretentious way). It's actually convenient that my last name is literally Price. Almost as if I was born for this. Nonetheless, this indicator is far more accurate in spotting directional changes than the free 13/48 cross, which oddly enough, influencers are charging for access. It's free, but the code is protected, for now at least.
Try it out on any ticker and look at how accurately it catches the tops and bottoms (keeping in mind to ignore misfires according to the two measures and also setting ~5-10% stop losses). And of course, use this in conjunction with other indicators. Ignoring all of my other emojis and simply setting surfer 🏄🏾 alerts could serve as additional confirmations for your personal strategy. Or you could simply enter at a surfer 🏄🏾 and exit when it reaches VWAP (or at least increase your Stop Loss to sell at break even if it doesn't reach). That strategy is the most conservative and would secure consistent gains). AND AGAIN, use your stop losses. Either it makes a move or it doesn't. Simply re-enter at a better point if necessary.
BE - Volume Scalping ProDear Traders,
Here with presenting the new Indicator (Strategy) for scalping which is primarily built based on the the Volume Analysis.
Idea behind this Indicator: I am sure every trader would agree that Volume is one of the Leading indicator along with Price, and hence thought to use the same for scalping the trades. There is a direct co-relation between the price and volume and thereby used this as a base for arriving at strength of the volume pumped in. Indicator is working on the Logic of "What is the ROC in price for the volume dumped in and does ROC quantify the same which is happened in the recent past of x candles." In order to be successful in scalping trade, Accuracy, Risk to reward and Money Management is very much crucial and hence thought so much on this to make it happen.
Note: Accuracy here being profitable in the trade and not hitting the bulls eye all the time.
What this indicator is providing:
Based on the volume, ROC & Candle Thresholds and using the inputs provided for RISK and Money Management options, Indicator continuously scans for trading opportunities and provides alerts for possible trades.
Alerts & Notifications:
There are basically 3 types of Alerts provided one with General Notification and Other with Dhan HQ notifications to support Algo Trades and AlgoJi for supporting Algo trades too.
Self Declaration:
I have been testing the performance in 30 seconds and 1 min chart and I haven't faced any issues yet. I strongly recommend users to use the same in timeframe less than 10 Min only.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely.
Happy to receive suggestions and feedback in order to improve the performance of the indicator better.
Effortless ScalpingEffortless Scalping is an indicator that primarily is used for stock options trading.
Effortless Scalping is based off of momentum. Our script takes into account the price action, volume, and historical data points of a stock to give potential "buy" and "sell" areas.
Effortless Scalping is a protected script because its Buy and Sell signals are based off of custom coded confirmations. This is what makes our script unique. We also have custom coded CHOP Filters in the indicator.
Effortless Scalping has a custom EMA line that flows with the trend of the market. It also changes colors to indicate a bullish or bearish trend . It also will change into a yellow color if the CHOP of the market exceeds your allowance. This EMA line is the only "classic" element of our custom coded script.
You can easily use Effortless Scalping by applying it straight to your chart. You can customize several visual effects in the settings menu.
Effortless Scalping also has two types of signals--RISKY signals and normal signals. Risky signals have a higher risk, but also a higher reward.
Effortless Scalping also features take profit levels based off of ATR levels.
Effortless Scalping also has custom support and resistance lines to better help you analyze the movement of a stock. These levels are based off of pivot levels.
Effortless Scalping can not predict the future move of a stock. Our script uses historical data points to alert POTENTIAL entries. These historical data points by NO MEANS predict the future movement of the market.
Effortless Scalping was created to help me understand the movement of a stock and why it may be moving in that direction. I personally found success using this script. I am sharing it because I am hoping that others find success in this script as well. I also like to trade quite frequently, and several times a day, so I made an indicator that is both accurate and alerts frequently.
This indicator does NOT provide financial advice. It is intended for general use only.
Moving Average Directional IndexMADX is ADX-inspired indicator with moving averages that determines strength of a trend, as well as its direction. Indicator works following:
As the value of MADX increases, so does the strength of a trend
If MADX+ ( green line - bullish MADX ) crosses above MADX- ( red line - bearish MADX ) we consider trend as bullish and vice versa..
There will be situations where MADX- and MADX+ cross multiple times in a short period of time -> that will mean that market indecision is happening and big move will most likely happen after it.
For the calculation of MADX+ and MADX- we need Moving Averages or Exponential Moving Averages with three specific sources ( high, close, low ).
Now, the calculation of each MADX will differ
=> for MADX+: Moving Average (high) / Moving Average (close)
=> for MADX-: Moving Average (close) / Moving Average (low)
Length of Moving Average is editable.
Days and Session
This indicator optionally displays 2 informations:
- The Day of the week
- The New session's Candle
You can turn off/on the displayed information
Disclaimer: Scripts that I post publicly are experimental. They are not financial advices. Always backtest your ideas using your own methodologies.
Tradesense PremiumTradesense Premium
Tradesense Premium indicator offers a buy & sell signal that is based from our senior analyst who have more than 10years of experience in Forex, Stock and Crypto trading and made it possible by our pine script developers.
Our script can detect market volatility based on the price direction and the absolute value of exponential moving average are multiplied to specific numbers to get a different trading style such as Scalper, Swing Trader and Trend Follower. We also filtered out all the signals using a different known indicators such as RSI, ATR, and ADX, and the results will allow you to enter a trade before the big moves occur. We also included all the important indicator which appears in real-time to get a competitive advantage in any market environment.
If you are a trader for a long time you should know that there is no way to avoid risk in trading. Every single trade could, theoretically at least, end up a loser. That is why our script also provides automatic risk management system which can gives you the ability to know exactly where to take the profit and to stop.
Trading style preset options - Will allows you to get the signals the way you wanted depending on your trading style. Ex. Scalper, Swing Trader or a Trend follower.
Bar color - Our bar colors are based on the price actions which detects the weakness of the bar or if the bar is ranging.
Reversal Zone - This indicator would identify possible price reversal zones.
Support & Resistance - This indicator draw a line at the pivot point to show possible support and resistance area.
Target Profit indicator based on price actions - This indicator will gives you an option to reduce your position or go out of the trade before the reversal happens.
Target Profit / Stop Loss based on ATR - This indicator will gives you a simple but effective risk management system to protect your capital. The TP/SL is based from the ATR.
Alert System - We are giving you an options to customize your alerts.
Our mission is to provide systematic way to build your success.
Release notes: Tradesense Premium V1.1
✅Trading style preset options
✅Bar color
✅Reversal Zone
✅Support & Resistance
✅Target Profit indicator based on price actions
✅Target Profit / Stop Loss based on ATR
✅Alert System
❓Trading style
Currently we have 3 sets of preset options that the user can use.
Scalp - this preset is made for the trader that wants a quick in and out of the trade. The best timeframe to this is 1min to 5mins chart.
Swing - this preset is for the trader who can wait a little bit longer in a trade. The best timeframe to use is 15mins to 1hour chart.
Trend - this preset is made for the busy people that can hold a trade more than a day. The best timeframe to use is 4hours to 1day chart.
❓Bar color
This options will change the color of your bars to lessen the noise of your chart.
Green Color is a bullish indicator
Red Color is a bearish indicator
Orange Color will signify that the trend is weakening
Purple Color is a consolidation/ranging price action
❓Reversal Zone
From the name it self, once the price is already hit the Reversal Zone the price will more likely to reverse or will make a correction.
❓Support & Resistance
When this option is enabled, the support and resistance levels will show up.
❓Target Profit indicator based on price actions
When this option is enabled, you will see a "💰" which means it's time to take profit or reduce your positions.
❓Target Profit / Stop Loss based on ATR
Most of the trader uses ATR as a stop loss level. When this option is enabled, the indicator for Stop Loss and Take Profit will show up and the TP/SL levels can be changed by changing the ATR Multiplier (Default is 1.8).
❓Alert System
Function alert is added and the user can customize it the way they want it.
God Number Channel V1 (GNC V1)Channel, made of 5 MAs, which a made this way: High of N-period SMA - Low of N-period SMA + X-period SMA (check the code), where N and X are defined by your input.
Main purpose: helps you understand in what range price can move.
WARNING!
HAS TO BE USED WITH OTHER INDICATORS TO HAVE MORE ACCURATE ENTRIES!!!
If the price is above or below the channel, it means that the movement is very strong and you count it as a trend, but be careful then the price returns to the channel, as correction will follow very soon. Use fib correction tool to understand the approximate depth of correction, works pretty good.
Recommendation: consider using the Vortex Indicator( len 21 and 14 are fine; for trend) and "Vumanchu Divergencies + B"(for anything, but calibrate for accuracy, otherwise there will be too much false signals). If you want to see more options where the price might go, just add new MA and add/substract to/from its value avg1*(any of fibonacci correction levels, I personally use 1.618 and 2.618 and for me it is ok): plot(show_ma1 ? ma1+( [ [ ]]]*avg1) : na, color = ma1_color, title="MA №1")
Recommendations and feedback are welcome(!)
Take your wins
Current Trend [KPM] - Buy / SellYou can filter the trend with this indicator. Green Lines indicate a short-term up trend and Red lines indicate a short-term downtrend. and black lines indicate short-term consultation.
I'm not regarding anything with this indicator. All risk is yours
Thank you
Scalping Alice 3/5INTRO
Scalping Alice is a work in progress. I made it to help with my Scalping Long strategy as a helper for entrances.
This instance of the indicator is for 3min and 5min chart analysis only.
It still needs to further adopt and calibrate multi-frame data, but for the moment it takes from the Daily, the Hourly and the 15min.
It is meant to be used WITHOUT candles. This is because, one of the goals I'm trying to achieve is to compress data and leave out unwanted noise.
The 3min and 5min candles are very dynamic (specially in the crypto market), so I don't need to know the whole OHLC, but I do need a range.
COMPONENTS
Small Blob
The first component is the current time-frame Price Blob. The top line is the candle Highs and the bottom line is the candle Lows.
The Price Blob's Color changes according to a Double RSI which you can modify the values for.
The default is 13 for the Fast RSI and 34 for the Slow RSI.
When the Fast RSI is on top it turns Green. When the Slow RSI is on top it turns Red.
Big Blob
The Outer Blob is the same as the inner blob, but in the 15min time-frame. It changes color the exact same way, but with 15min values.
WMA Line
The closest line to the blob is the WMA line. You can change the default value, which is 21.
The color changes according to a complex modifier, that I will try to explain, but most likely fail.
It takes a sort of Tenkan (see Ichimoku Cloud if you don't know what a Tenkan is) value from the 15min chart and the Hourly chart.
It then compares the difference from these Tenkans and adds it to the 15min mid price.
And finally tries to find a fast Trend of the movement of the price for the last 3 candles.
The Tenkan value can be changed from it's default 3. Be wary, this changes the Tenkans for all the timeframes.
Blue Tenkan
The slower line is an Hourly Tenkan but with a value of 9.
Saturation Clouds
The last piece are the orange Saturation Clouds. These appear in bigger price movements and work weirdly.
They are differences between Hourly Tenkan and current frame Tenkan, along added to the mid point of the price and a little bit of Bollinger math.
Again, hard to explain, but they are very useful. Maybe one of the most useful parts of Alice.
BULL AND BEAR
Bullish :
- Green Small Blob
- Green Big Blob
- Green WMA
- Small Price Blob Above WMA
- Small Price Blob Above Blue Tenkan
- Small Price Blob Inside Upper Saturation Cloud
- Lower Saturation Cloud appears but DOES NOT touch Small Price Blob
Bearish
- Red Small Blob
- Red Big Blob
- Red WMA
- Small Price Blob Below WMA
- Small Price Blob Below Blue Tenkan
- Small Price Blob Inside Lower Saturation Cloud
- Upper Saturation Cloud appears but DOES NOT touch Small Price Blob
SMALL TIPS
Saturation Clouds
When the Saturation Clouds appear, it is an indication of strong price decision.
If it appears but it is far from the Small Blob then this indicates Price Reversal.
Most likely a nice moment to enter an opposite trend trade.
If the cloud appears touching the Small Blob and the Small Blob enters the cloud, this is Trend Confirmation.
The price is going to go strongly towards the Trend is is on.
Most likely a nice moment to enter an accompanying trend trade.
Price Bounce
The Small Blob bounces inside the Big Blob. This is very useful for numerous short plays.
You have better chances opening longs when the price is on the Lower parts of the Blobs.
The same goes for shorts on the Upper Parts.
Slow and Fast
The color of the WMA is a very fast indicator, it's the least reliable one.
Then comes the Small Blob color, then comes the WMA itself.
Following that you have the Big Blob color, then the blue Tenkan.
And finally the Saturation Clouds are the most reliable part.
FINAL THOUGHTS
This is a publishable version of this strategy. I hope to keep working on these types of strategies, maybe even upgrading this one.
Enjoy, share and leave comments!
Camarilla Pivots - Signals, Alerts, TP and SL by Tech Store OnThis is a Camarilla Pivots indicator script, which will show signals, take profit and stop-loss on the chart with alerts based on Camarilla Pivot strategies:
LONG signals: S5 > S4, TP1: S4, TP2: S3, TP3: R3 SL: Manual | S3 > R3, TP1: R3, TP2: R4, TP3: R5, SL: S4 | R4 > R5, TP1: R5, SL: R3
SHORT signals R5 > R4, TP1: R4, TP2: R3, TP3: S3, SL: Manual | R3 > S3, TP1: S3, TP2: S4, TP3: S5, S4 > S5, TP1: S5, SL: S3
Mainly, the script is based on the pivot levels and price action. The script will trigger a signal if a supporting direction candle breaks or bounces at certain pivot, triggering a direction of the potential trade with the next pivot serving as a Price Target area, each signal will potentially wait for 3 Price Target areas and if they happen will show each on chart. An opposite direction pivots are used as a Stop Loss, which the indicator will show on the chart. If stop-loss will be hit, the script will not show take profit areas considering the trade is closed with a loss. Same way if take profit area 1 is reach, it is considered that SL is moved to Entry and therefore the script will no longer show stop-loss for that trade. This indicator was mainly tested via 15min timeframe, but feel free to try different timeframes as the concept is the same.
This strategy was extensively manually tested, trade by trade, with S&P 500 ETF 15min timeframe, for back-testing results for the whole 2021 year (this is simply if you would LONG/SHORT stocks, don’t forget that if you trade Options, there is also Theta present (options price decay over time), the win rate is: 86.12%
*** If a trade was uncertain > it was marked immediately as stop-loss
*** A position was always closed at the end of the day no matter what (profit/loss)
Config: Alerts need to be set for each signal, take profit and stop-loss, it is pretty much self-explanatory, just right click the chart, select “Add alert” > next to Conditions select “Camarilla Pivot…”, for each trade signal and stop-loss, make sure it is “Once per Bar Close” and for each take-profit make sure it is “Once Per Bar”. Stop-losses are confirmed price breaks, while take-profits – we just need to touch those pivots.
Config: By Default, indicator signals are given during regular BEST (after 3PM ET – it’s power hour, which often is unpredictable + market will be closing soon) US standard market hours: 9:30AM-3PM ET, take profit and stop-losses by default are set to 9:30AM-4PM ET (US standard market hours. Both can be adjusted via Inputs. If you wish for the signals/take profit and stop-losses to be tracked 24/7 > choose the “EMPTY” space for both.
Config: Number of candles/bars to track back for opened positions is the number of Candles/Bars tracked back for each position. You can change this setting as it relates to timeframe versus trading style (day trading/swing), play around to find your best settings, by default it’s 13, which is best for day trading/15M timeframe. Please note: if position takes “too long” to reach TP or SL, it may not show TP or SL, so you need to keep an eye on this. It is best to use slightly lower number for day trading, because otherwise if you receive the same signal more than twice during the day > it will not show TP or SL for the second/third/etc. position. This is custom for you to change though, so if you want longer position tracking for the day, choose: 26 candles (this is the amount of 15M candles during the day), but keep in mind that for second/third position > it may not show you the TP1/SL.
Config: The table showing positions will show current open position on the bottom cell if position is opened per indicator, you can move or even hide this table in the indicator settings. (Please note: this is decorative thing and sometimes may show a position open, which is not actually open, especially when the market is not currently open).
Tip: Note: if pivots are too far away from each other and there is either big profit already or another support/resistance indicator (VWAP, SMA, support & resistance levels, etc.) – it is wise to take some profit off and move SL to Entry to secure profits in case market decides to turn around. This is especially wise if you trade Options as they include Theta (options price decay over time). Please note: back-test results displayed above were done without VWAP.
Tip: R5 > R4 and S5 > S4 are riskier signals as there are no pivots above/below for the SL, the script does not have a built-in stop-loss level/indicator for these, so you will need to manually set your stop-losses for these signals. Last day pivots often can help with this or simply use most recent support & resistance levels.
Tip: If trading S&P: be careful opening positions near 3PM ET, as during the “power hour” – 3-4PM ET > volatility increases and direction of the price becomes much more unpredictable. Similar: if you are in profit, it is wise to close the majority of your position at 3PM ET, before the “power hour” starts.
Tip: Very conservative trading approach: after signal happens, wait for a bounce back (price going back touching the pivot) and open position right there, that way > SL will be smaller and better risk/reward ration.
Tip: There is no limit on how many signals the script will show if it meets the conditions (in case you miss one of the signals and conditions repeat > you can still get into decent trade at next signal if it matches the condition).
Note1: if candle closes crossing/breaking several pivots at the same time and that same candle will touch take profit pivot – the script is configured to minimize showing/alerting signals/TP/SL for such conditions, so that you don’t get a very dirty chart / spammed with alerts, however sometimes it may or may not show signals and/or take profits/losses incorrectly. Overall, when you see such huge candles, it means that market volatility is bigger than usual, so a caution should be practiced.
Note2: If the signal candle almost nearly touches the first take profit area > it’s best not to open a position (you literally opening it at the first take profit pivot, and it may bounce the other way from that same pivot).
Note3: You may sometimes see take profit/stop-loss indicators in the beginning of the day or simply when pivot levels change, this is due to script registering the position open per old pivot levels and then show you take profit/stop-loss per new pivot levels.
FCPO IntradayThis script is specially developed for the reference of Crude Palm Oil Futures ( CPO ) market traders.
Before using this script, traders need to know a few important things, namely:
1. Use of this script is limited to the Crude Palm Oil Futures ( CPO ) market only;
2. The appropriate time-frame for the purpose of using this script is 30 minutes.
Procedures for using indicators.
1. The line on the trading day will only be known after the first candle is completed, i.e. at 10:59:59 am;
2. Then, key in order.
Entry.
The recommended max Entry is once Long and once Short only on the same day.
Long.
1. Traders can only make a purchase when the market price hits the green line;
2. If traders hold a long position, traders can make a sale to close the long position when the price hits the blue line.
Short.
1. Traders can only make a sale when the market price hits the red line;
2. If traders hold a short position, traders can make a purchase to close the short position when the price hits the orange line.
ATR and IV Volatility TableThis is a volatility tool designed to get the daily bottom and top values calculated using a daily ATR and IV values.
ATR values can be calculated directly, however for IV I recommend to take the values from external sources for the asset that you want to trade.
Regarding of the usage, I always recommend to go at the end of the previous close day of the candle(with replay function) or beginning of the daily open candle and get the expected values for movements.
For example for 26April for SPX, we have an ATR of 77 points and the close of the candle was 4296.
So based on ATR for 27 April our TOP is going to be 4296 + 77 , while our BOT is going to be 4296-77
At the same time lets assume the IV for today is going to be around 25% -> this is translated to 25 / (sqrt (252)) = 1.57 aprox
So based on IV our TOP is going to be 4296 + 4296 * 0.0157 , while our BOT is going to be 4296 - 4296 * 0.0157
I found out from my calculations that 80-85% of the times these bot and top points act as an amazing support and resistence points for day trading, so I fully recommend you to start including them into your analysis.
If you have any questions let me know !
EMAs Daily ResetThis indicator displays 3 EMAs that recalculate every day.
This is useful for intraday trading by removing the bias of the previous day's ema price. This ensures your EMAs stay near the most current price action.
Note: If your length is larger than the number of bars in the day, your EMAs will not have time to properly catch up in the day.
Clutch AlgoThe Clutch Algo provides reversal signals and trend signals. The indicator can be used for stocks, crypto and forex. It can also be used for day trading and swing trading.
Reversal signals were done by modifying the Bollinger Bands and MACD and combining them in a unique way to find explosive price actions. These have been modified to provide signals at the bottom or top of a trend to catch price reversals and to improve margin of safety on trades. These signals are labeled as “Long” and “Short”.
We also added automatic support and resistance zones to increase the accuracy of the “Long” and “Short” signals. This was done by using historical price action of highs and lows and periods of consolidation where price reversed.
The trend signals, which are labeled as “Bull” and “Bear” signals use a combination of exponential moving averages. These signals can be used as trend continuations.
We also added an exponential moving average cloud to help traders easily visualize trend. This can be used as a guide to help you stay in a trade to maximize profits. It can also be used as a guide to get out of a trade if price breaks out of the cloud. The third use of the cloud can be used as support resistance in between high/low support and resistance zones.
Tips:
- Only take long/short signals when there is a support or resistance zone formed at or near the long/short signal, preferably within 1-3 bars of the support or resistance zone. Signals too far from "Long" or "Short" signals reduces your margin of safety.
- When in a Long or Short position, use support or resistance zones as a stop loss level as price is likely to go against the position.
- When taking a Long/Short or Bull/Bear signal, wait for candles to be completed to get best entry possible.
- Previous support zones can be used as resistance zones and previous resistance zones can be used as support zones.
- The support and resistance (SR) period can be adjusted. Numbers in the SR settings are bars looking back. For example, a setting of 10, looks back 10 bars.
Anna-LysaEspecially useful when using it for stocks in intraday screening for daytrading.
This gives you quick information about the volatility at the moment when you look at the stock.
The current range of the last candles (adjustable) is calculated so that you can stop based on the Vola.
In addition, the daily volume and daily range are calculated in the table and what is left of the average.
So that you can adjust your ideas for the movement in order to take profit. No matter what the timeframe, you can see how the volume compares to that of the previous few candles and thus anticipate the most likely breakout.
Then the most relevant day trading levels ( Premarkets, Lastday high/lows and some Ma´s ) are shown so that you can get a very fast overview of the stock at the moment.
All levels and labels and colors are adjustable or hidden in the settings.
Zeal Trade HelperOnce you have mastered a trading strategy, risk management is the most important aspect of trading that will enable and long and successful trading career. The Zeal Trade Helper is based on Van Tharp's theory of R. It provides an immediate visual trading plan, as well as sizing parameters for trading equity and options (.25 and .50 deltas) based on a number of inputs to help you avoid needing to do quick mental math in the moment of taking a trade.
HOW TO USE
- First, you will need to input your R value. To find your R value, divide your **average green day** by the **average number of trades you take in a day**. Once you have this number, enter it into the "Your R Value" field in the indicator settings.
- The indicator settings then provides you with 5 different setup entries. When you have your watchlist ready for the day, simply go through and choose the specific stock, enter your entry price, stop loss, target, and setup type (build, short, bounce, or reject).
OUTPUTS
**Trading Plan**
The indicator will display a visual trading plan based on the inputs you entered on each individual stock's chart. The trading plan will have a green box and red box to represent your entry, target, and stop loss.
**Risk Parameters**
The indicator will also display text outlining what your risk parameters and sizing should be for the trade based on your R value. You will see 3 different lines: the first line showing the number of shares you can trade, the second line showing the number of option contracts you can trade at .50 delta, and the third line showing the number of option contracts you can trade at .25 delta. For reference, at the money options are .50 deltas. Even if you aren't trading exactly .50 or .25 deltas, these values will still help as a frame of reference in the moment of putting on the trade.
**Note that you can toggle the appearance of either of these outputs by checking/un-checking the boxes next to "Display trading plan" and "Display risk parameters" in the indicator settings.
Examples:
1. "**240 shares with $1.25 risk**" means you can take 240 shares and risk $1.25 on the share's price based on your R value
2. "**4.8 Cons @ .50 delta with $0.62 risk**" means you can take either 4 or 5 at the money option contracts and risk $0.62 **on the option contract's value** based on your R value
3. "**9.8 Cons @ .50 delta with $0.31 risk**" means you can take either 9 or 10 option contracts that have a .25 delta (a bit out of the money) and risk $0.31 **on the option contract's value** based on your R value
Happy Trading!
Day Trade Scalping - Optimal Trade Entrance IndicatorThis script can be used to day trade SPY ( S&P ), Forex Currencies, Stocks, Bitcoin and pretty much anything out there. It was extensively tested trading live on 15minute timeframe with great results, it can be used with other timeframes as well.
Indicators:
- Regular Signals (red/green) – trade signal arrows, includes alerts
- Risky Signals (orange/olive) – trade signal arrows, includes alerts
- Optimal Trade Entrance Area - target at where to enter the trade with minimal risk and maximum profit
As the signals explained, there are regular and risky signals, which are calculated per different algorithms. Based on the test run, risky signals will appear less and be more risky, but usually spot longer bigger runs!
The original idea of the script is to provide the trader with an Optimal Trade Entrance Area to reduce the risk and maximize the profit. After you receive a signal/alert, wait for the price to re-trace to the Optimal Trade Entrance Area line, which will be shown on the chart. If the price does not reverse - it's best to not open a position. (Remember that the best trade is – no trade!).
If you don’t know how to divide up your position - here is an example on how I take profits between the price targets:
- Open position with buying a multiple of x3 contracts
- Sell 1/3 of the position at first price target and move my SL to entry
- Sell 1/3 of the remaining position at a second price target
- Sell the rest of the position at the third price target or scale out slowly if the trend is still strong
Also, keep an eye on the breakouts, especially if they go along the script signals as with breakouts, there is a good potential for a bigger move.
Initial BalanceThis script calculates and draws the initial balance price levels which can be really interesting for intraday activities.
Note: Obviously, you need to wait for the calculation period to finish in order to see your daily levels
The tool includes the following options
Customization of the session used to calculate the initial balance (default 0930-1030)
Show/Hide the calculation period (as a background color)
Show/Hide extra levels (report the IBH-IBL delta above and under the IB area)
Show/Hide intermediate levels (displays 50% price levels in the IB and extra areas)
Show labels (Display levels names as well as their price on corresponding lines)
Levels names:
- IBH (Initial Balance High)
- IBH (Initial Balance Low)
- IBM (Initial Balance Middle)
- IBH x2
- IBL x2
Default colors are green for high levels, red for low levels, and orange for intermediate levels
Extend levels (extends the current levels to left/right/both/none sides of the chart)
MILK (My Intraday Lazy Kit)I made this script to group information considered useful in forex day trading, of course it can be used on crypto or other markets.
First of all, feel free to suggest any improvement/new feature you would consider interesting for such an use. This is not especially a final version and I'm sure other relevant information can be added in this tool.
Current features are the following
An international clock showing time and session status (open/closed) for 5 different cities. You can modify it in parameters.
Drawings of previous days/weeks open/high/low/close prices, which will be often used as supports and resistances zones.
The Clock shows
City
Time (with a bgcolor corresponding to the "period" of the day (Morning, Afternoon, Evening, Night)
Session status (Cyan when the corresponding session is open, blue when it's closed)
Price levels names are
YTD-H : Yesterday's high
YTD-L : Yesterday's low
YTD-C : Yesterday's close
YTD-O : Yesterday's open
PWH : Previous week high
PWL : Previous week low
PWO : Previous week open
PWC : Previous week close
Levels width and colors can be modified.
You can also enable/disable the clock, and daily or weekly levels in the options panel.
Nothing more to say for now, I mainly integrated information I like to have, but I'll probably add new features in it if I get some.
