Directional Movement Index (DMI) + AlertsThis is a Study with associated visual indicators and Bullish/Bearish Alerts for Directional Movement (DMI). It consists of an Average Directional Index (ADX), Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI).
Published by J. Welles Wilder in 1978 for use with currencies and commodities which are typically more volatile than stocks and have stronger trends.
Development Notes
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This indicator, and most of the descriptions below, were derived largely from the TradingView reference manual. Feedback and suggestions for improvement are more than welcome, as well are recommended Input settings and best practices for use.
tradingview.com/chart/?solution=43000502250
Strategy Description
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ADX defines whether or not there is a trend present; +DI and -DI compliment the ADX by taking direction into account. An ADX above 25 indicates a strong trend, and a Bullish alert is subsequently triggered when +DI is above -DI and a Bearish alert when -DI is above +DI.
Note that the Bullish or Bearish crossover alert will only trigger if ADX is simultaneously above 25 during the crossover event. If ADX later rises to 25 and +DI is still greater than -DI, or -DI greater than +DI, then a delayed alert will not trigger by design.
Basic Use
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Acceptable DMI values are up to the trader's interpretation and may change depending on the financial instrument being examined. Recommend not changing any default values without being first familiar with their purpose and impact on the indicator at large.
Confidence in price action and trend is higher when two or more indicators are in agreement -- therefore we recommend not using this indicator by itself to determine entry or exit trade opportunities.
Recommend also choosing 'Once Per Bar Close' when creating alerts.
Inputs
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ADX Smoothing - the time period to be used in calculating the ADX which has a smoothing component (14 is the Default).
DI Length - the time period to be used in calculating the DI (14 is the Default).
Key Level - any trade with the ADX above the key level is a strong indicator that it is trending (23 to 25 is the suggested setting).
Sensitivity - an incremental variable to test whether the past n candles are in the same bullish or bearish state before triggering a delayed crossover alert (3 is the Default). Filter out some noise and reduces active alerts.
Show ADX Option - two visual styles are provided for user preference, a visible ADX line or a background overlay (green or red when ADX is above the key level, for bullish or bearish, and gray when below).
Color Candles - an option to transpose the bullish and bearish crossovers to the main candle bars. Can be turned off in the Style Tab by deselecting 'Bar Colors'. Dark blue is bullish, dark purple is bearish, and the black inner color is neutral. Note that the outer red and green border will still be distinguished by whether each individual candle is bearish or bullish during the specified timeframe.
Indicator Visuals
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Bullish or Bearish plot based on DMI strategy (ADX and +/-DI values).
Visual cues are intended to improve analysis and decrease interpretation time during trading, as well as to aid in understanding the purpose of this study and how its inclusion can benefit a comprehensive trading strategy.
Trend Strength
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To analyze trend strength, the focus should be on the ADX line and not the +DI or -DI lines. An ADX reading above 25 indicates a strong trend, while a reading below 20 indicates a weak or non-existent trend. A reading between those two values would be considered indeterminable. Though what is truly a strong trend or a weak trend depends on the financial instrument being examined; historical analysis can assist in determining appropriate values.
Bullish DI Cross
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1. ADX must be over 25 (strong trend) (value is determined by the trader)
2. +DI cross above -DI
3. Set Stop Loss at the current day's low (any +DI cross-backs below -DI should be ignored)
4. Set trailing stop if ADX strengthens (i.e., signal rises)
Bearish DI Cross
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1. ADX must be over 25 (strong trend) (value is determined by the trader)
2. -DI cross above +DI
3. Set Stop Loss at the current day's high (any -DI cross-backs below +DI should be ignored)
4. Set trailing stop if ADX strengthens (i.e., signal rises)
Disclaimer
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This post and the script are not intended to provide any financial advice. Trade at your own risk.
No known repainting.
Version 1.1
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- Added multi-timeframe resolution using PineCoders secure security function to eliminate repainting.
- Cleaned up option for selecting ADX view; and added a colored line as a choice, based on same bullish, bearish, or neutral colors as the background.
- Added exit crossover indicator to aid in an overall strategy development. This ability pairs better with my CHOP Zone Entry Strategy which relies on DMI Exits. Note that exit conditions don't employ the sensitivity variable. Green labels are for Bullish exits and red are for Bearish.
-- Exit condition is triggered if in an active Bullish or Bearish position and ADX drops below 25, Or if either the -DI crosses above +DI (for previously Bullish) or +DI crosses above -DI (for previously Bearish).
- Added reverse position determination. Triggers when a Bullish entry occurs on the same candle as a Bearish exit, or vice versa. Green labels are for Bullish reverses and red are for Bearish.
- Added selectable option to choose visible labels -- Bearish, Bullish, Both, Exits, Reverses, or All.
-- Note that a reverse label will only show if the opposing entry and exit labels are set to show, otherwise the reverse will revert to the appropriate entry or exit on the chart.
- Added alerts to account for new conditions.
-- Note that alerts for crossovers, exits, and reverses will only be triggered if the associated labels are selected to be shown (i.e., what you choose to see on the chart is what you will be alerted to).
Version 1.2
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- Changed exit condition to be decided on by whether ADX is below 25 and on a +/-DI crossover. Versus being either or. The previous version had too many false triggers. This variety can now show multiple Bullish or Bearish alerts before an Exit condition too. I'm tempted to simply make this condition based on ADX, and not DI … thoughts? See lines 138 and 139.
- Updated the Background view to have deeper shades of colors dependent upon the ADX trend strength.
- Added an Oscillator view for the ADX and momentum computations to color the histogram by trend. DI lines are hidden.
-- If ADX is Bullish, then the oscillator is colored light green in an uptrend and dark green in a downtrend; if Bearish, then its light red in an uptrend and dark redin a downtrend; if adx is below key level, then it is light gray in a downtrend and dark grey in the uptrend.
- Added option to Hide ADX in case only the Directional lines are desired. This could be useful if you would like to have the ADX oscillator in one panel and +/-DI crossovers in another.
- Added a Columnar view for the ADX. DI lines are hidden. This view is really simple and compact, with the trend strength still easily understood. Colors are the same as for the oscillator -- the deeper the shade of green or red, then the higher the ADX trend strength level.
- Added a Trend Strength label.
ADX Trend Strength Trade (Y/N) Setup Types
0 to 10 = Barely Breathing N N/A
10 to 20 = Weak Trend Y Range/Pre-Breakout
20 to 30 = Potentially Starting to Trend Y Early Stage Trend
30 to 50 = Strong Trend Y Ride the Wave
50 to 75 = Very Strong Trend N Exhaustion
75 to 100 = Extremely Strong Trend N N/A
Version 1.3
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Updated to Pine Script v5 to resolve errors from the deprecated v4 version.
This is a reissue of a previously published script that was hidden due to a v4 compatibility issue.
'https://www.tradingview.com/script/9OoEHrv5-Directional-Movement-Index-DMI-Alerts/'
Petunjuk DM
ADX-DMIThis script manually calculates the Directional Movement Index (DMI) and the Average Directional Index (ADX) using Wilder’s smoothing technique. The DMI indicators are used to assess the strength and direction of a market trend. It includes three main lines: ADX (yellow), DI+ (green), and DI− (red). Traders use these indicators to determine whether a trend is strong and in which direction it is moving.
The process begins by defining the length parameter, which determines how many periods are considered in the calculation. It then calculates the True Range (TR), which is the greatest of three values: the difference between the current high and low, the difference between the current high and the previous close, and the difference between the current low and the previous close. This TR is used to compute the Average True Range (ATR), which smooths out price fluctuations to get a clearer picture of the market’s volatility. Next, the script calculates the +DM (positive directional movement) and -DM (negative directional movement) based on the changes in the highs and lows from one period to the next.
Finally, the script computes the DI+ and DI− values by dividing the smoothed +DM and -DM by the ATR and multiplying by 100 to express them as percentages. The DX value is calculated as the absolute difference between DI+ and DI−, normalized by the sum of both values. The ADX is then derived by smoothing the DX value over the specified length. The three indicators — ADX, DI+, and DI− — are plotted in the lower chart panel, providing traders with visual cues about the trend’s direction (DI+ and DI−) and strength (ADX).
Important Notice:
The use of technical indicators like this one does not guarantee profitable results. This indicator should not be used as a standalone analysis tool. It is essential to combine it with other forms of analysis, such as fundamental analysis, risk management strategies, and awareness of current market conditions. Always conduct thorough research.
Note: The effectiveness of any technical indicator can vary based on market conditions and individual trading styles. It's crucial to test indicators thoroughly using historical data before applying them in live trading scenarios.
Disclaimer:
Trading financial instruments involves substantial risk and may not be suitable for all investors. Past performance is not indicative of future results. This indicator is provided for informational and educational purposes only and should not be considered investment advice. Always conduct your own research before making any trading decisions.
DMI Delta by 0xjcfOverview
This indicator integrates the Directional Movement Index (DMI), Average Directional Index (ADX), and volume analysis into an Oscillator designed to help traders identify divergence-based trading signals. Unlike typical volume or momentum indicators, this combination provides insight into directional momentum and volume intensity, allowing traders to make well-informed decisions based on multiple facets of market behavior.
Purpose and How Components Work Together
By combining DMI and ADX with volume analysis, this indicator helps traders detect when momentum diverges from price action—a common precursor to potential reversals or significant moves. The ADX filter enhances this by distinguishing trending from range-bound conditions, while volume analysis highlights moments of extreme sentiment, such as solid buying or selling. Together, these elements provide traders with a comprehensive view of market strength, directional bias, and volume surges, which help filter out weaker signals.
Key Features
DMI Delta and Oscillator: The DMI indicator measures directional movement by comparing DI+ and DI- values. This difference (DMI Delta) is calculated and displayed as a histogram, visualizing changes in directional bias. When combined with ADX filtering, this histogram helps traders gauge the strength of momentum and spot directional shifts early. For instance, a rising histogram in a bearish price trend might signal a potential bullish reversal.
Volume Analysis with Extremes: Volume is monitored to reveal when market participation is unusually high, using a customizable multiplier to highlight significant volume spikes. These extreme levels are color-coded directly on the histogram, providing visual cues on whether buying or selling interest is particularly strong. Volume analysis adds depth to the directional insights from DMI, allowing traders to differentiate between regular and powerful moves.
ADX Trending Filter: The ADX component filters trends by measuring the overall strength of a price move, with a default threshold of 25. When ADX is above this level, it suggests that the market is trending strongly, making the DMI Delta readings more reliable. Below this threshold, the market is likely range-bound, cautioning traders that signals might not have as much follow-through.
Using the Indicator in Divergence Strategies
This indicator excels in divergence strategies by highlighting moments when price action diverges from directional momentum. Here’s how it aids in decision-making:
Bullish Divergence: If the price is falling to new lows while the DMI Delta histogram rises, it can indicate weakening bearish momentum and signal a potential price reversal to the upside.
Bearish Divergence: Conversely, if prices are climbing but the DMI Delta histogram falls, it may point to waning bullish momentum, suggesting a bearish reversal.
Visual Cues and Customization
The color-coded output enhances usability:
Bright Green/Red: Extreme volume with strong bullish or bearish signals, often at points of high potential for trend continuation or reversal.
Green/Red Shades: These shades reflect trending conditions (bullish or bearish) based on ADX, factoring in volume. Green signals a bullish trend, and red is a bearish trend.
Blue/Orange Shades: Indicates non-trending or weaker conditions, suggesting a more cautious approach in range-bound markets.
Customizable for Diverse Trading Styles
This indicator allows users to adjust settings like the ADX threshold and volume multiplier to optimize performance for various timeframes and strategies. Whether a trader prefers swing trading or intraday scalping, these parameters enable fine-tuning to enhance signal reliability across different market contexts.
Practical Usage Tips
Entry and Exit Signals: Use this indicator in conjunction with price action. Divergences between the price and DMI Delta histogram can reinforce entry or exit decisions.
Adjust Thresholds: Based on backtesting, customize the ADX Trending Threshold and Volume Multiplier to ensure optimal performance on different timeframes or trading styles.
In summary, this indicator is tailored for traders seeking a multi-dimensional approach to market analysis. It blends momentum, trend strength, and volume insights to support divergence-based strategies, helping traders confidently make informed decisions. Remember to validate signals through backtesting and use it alongside price action for the best results.
VWAP Oscillator (Normalised)Thanks:
Thanks to upslidedown for his VWAP Oscillator that served as the inspiration for this normalised version.
Core Aspects:
The script calculates the VWAP by considering both volume and price data, offering a comprehensive view of market activity.
Uses an adaptive normalization function to balance the data, ensuring that the VWAP reflects current market conditions accurately.
The oscillator includes customizable settings such as VWAP source, lookback period, and buffer percentage.
Provides a clear visual representation of market trends.
Usage Summary:
Detect divergences between price and oscillator for potential trend reversals.
Assess market momentum with oscillator’s position relative to the zero line.
Identify overbought and oversold conditions to anticipate market corrections.
Use volume-confirmed signals for enhanced reliability in trend strength assessments.
MATHR3E FLOW EXTENSION DASHBOARD█ OVERVIEW
MATHR3E Flow Extension Dashboard is a market timing tool which aims to anticipate trend reversals and highlight potential low risk entries.
█ CONCEPTS
Disclaimer:
MATHR3E Flow Extension Dashboard indicator is intended for advanced traders and may fit your profile, whether you are a day trader or a long-term investor.
It was originally developed by a renowned market analyst and documented in numerous books. Among them is the author Jason Perl.
It is recommended to have read the trading techniques mentioned in the books covering this indicator beforehand.
How to use:
Fibonacci Flow is a very complex tool, the purpose is not to detail it here but rather to introduce it briefly.
For a complete understanding, it is strongly recommended to read the books mentioned in the disclaimer section.
This indicator has two main components:
1 — The Prelude, which relies on momentum to define price ranges.
From a Price Reversal there must be nine consecutive closes;
Each one less/greater than the corresponding close four bars earlier.
Preludes are numbered from 1 to 9. A complete Prelude occurs on bar 9.
It can be: Sharpened / Flawed / Ignored / Extended / Over-Extended / Renewed
Cross over parameter can also evaluate the slowdown in a price trend's intensity and qualify the inception of Flow
2 — The Flow, which comes into play once the Prelude is complete.
They are trend based, and look for low-risk opportunities to fade established directional moves.
Flows are counts numbered from 1 to 13. There are 3 of them:
• SEQ: compares the current close with the low/high two bars earlier
• AGG: compares the current low/high with the low/high two bars earlier
• CMB: complex set of comparison with 2 available methods (not detailed here)
To handle the large amount of data to be displayed, they have been distributed over two indicators.
This indicator therefore works in pair with its companion: MATHR3E Flow Extension.
The distribution of the display is as follows:
Current indicator:
• Prelude points
• Markers for sharpened/flawed/valid/invalid completed preludes.
• Markers for Nested preludes (with brackets)
• Markers for Extension preludes (E)
• Markers for Over Extension preludes (O)
• Markers for Renewed preludes (R)
• Prelude Risk lines
• Flow Risk lines
• Prelude Trend Support and resistance
• Dashboard for supervision of ongoing counts
Companion indicator:
• Flow points
• Markers for Flows cancelation (X)
• Markers for Nested Exhaustion points (with brackets)
• Exhaustions points for:
• SEQ: 13 up to 55 (Identify trend fading)
• AGG: 13 up to 55 (For higher trading frequency)
• CMB: 13 up to 34 (Identify prospective turning points following an abrupt price movement)
█ FEATURES & BENEFITS
Fibonacci Sequence
The number 13 is part of the Fibonacci sequence which is nature’s numbering system.
Even if a Prelude Renewal is not triggered, a trend may extend beyond Fibonacci number 13.
MATHR3E Flow Extension can unveil the next exhaustion points based on this same Fibonacci sequence (21, 34, 55) while respecting the logic of the Flow.
Exhaustion points
Potential exhaustion points emerge whenever the individual flows reach Fibonacci numbers.
These points may help traders to identify low-risk buy or sell opportunities.
Risk Lines
Once the trader has selected an entry point, the displayed risk lines should encourage the trader to remain disciplined and apply proper money management.
Position sizing remains the responsibility of the trader.
Available risk lines:
• buy/sell Preludes
• buy/sell Flows
Nested Flows
The indicator can track up to five nested Flows.
Nested exhaustion points will have markups brackets.
Renewing
During the path to reach point number 13, it is very common to trigger other Prelude in the same direction as the previously initiated trend.
MATHR3E Flow Extension will address these potential market renewals with multiples options:
• Prelude range qualifiers
• Renewal Multiplier
• Renewal Method (Before/On/After, Before/On, Only Before, After/On, Only After, Ignore All)
Dashboard:
The dashboard makes it easier to monitor multiple buy and sell signals at the same time:
• Prelude: (P from 1 to 9) / Compares the current close with the corresponding close four bars earlier
• SEQ: (S from 1 to 55) / Compares the current close with the low/high two bars earlier
• AGG: (A from 1 to 55) / Compares the current low/high with the low/high two bars earlier
• CMB: (C from 1 to 34) / Requires four conditions to be satisfied simultaneously
Dashboard also provides the possibility to monitor up to 5 levels of flows
Alerts
The indicator also provides programmable alerts whose format can be adapted to be received on Discord servers
Configure your alerts and get notified on:
• Trend changes
• BUY or SELL P9
• BUY or SELL S13 to S55
• BUY or SELL A13 to A55
• BUY or SELL C13 to C34
MATHR3E FLOW EXTENSION█ OVERVIEW
MATHR3E Flow Extension is a market timing tool which aims to anticipate trend reversals and highlight potential low risk entries.
█ CONCEPTS
Disclaimer:
MATHR3E Flow indicator is intended for advanced traders and may fit your profile, whether you are a day trader or a long-term investor.
It was originally developed by a renowned market analyst and documented in numerous books. Among them is the author Jason Perl.
It is recommended to have read the trading techniques mentioned in the books covering this indicator beforehand.
How to use:
Fibonacci Flow is a very complex tool, the purpose is not to detail it here but rather to introduce it briefly.
For a complete understanding, it is strongly recommended to read the books mentioned in the disclaimer section.
This indicator has two main components:
1 — The Prelude, which relies on momentum to define price ranges.
From a Price Reversal there must be nine consecutive closes;
Each one less/greater than the corresponding close four bars earlier.
Preludes are numbered from 1 to 9. A complete Prelude occurs on bar 9.
It can be: Sharpened / Flawed / Ignored / Extended / Over-Extended / Renewed
Cross over parameter can also evaluate the slowdown in a price trend's intensity and qualify the inception of Flow
2 — The Flow, which comes into play once the Prelude is complete.
They are trend based, and look for low-risk opportunities to fade established directional moves.
Flows are counts numbered from 1 to 13. There are 3 of them:
• SEQ: compares the current close with the low/high two bars earlier
• AGG: compares the current low/high with the low/high two bars earlier
• CMB: complex set of comparison with 2 available methods (not detailed here)
To handle the large amount of data to be displayed, they have been distributed over two indicators.
This indicator therefore works in pair with its companion: MATHR3E Flow Extension Dashboard.
The distribution of the display is as follows:
Current indicator:
• Flow points
• Markers for Flows cancelation (X)
• Markers for Nested Exhaustion points (with brackets)
• Exhaustions points for:
• SEQ: 13 up to 55 (Identify trend fading)
• AGG: 13 up to 55 (For higher trading frequency)
• CMB: 13 up to 34 (Identify prospective turning points following an abrupt price movement)
Companion indicator:
• Prelude points
• Markers for Sharpened/flawed/valid/invalid completed preludes.
• Markers for Nested preludes (with brackets)
• Markers for Extension preludes (E)
• Markers for Over Extension preludes (O)
• Markers for Renewed preludes (R)
• Prelude Risk lines
• Flow Risk lines
• Prelude Trend Support and resistance
• Dashboard for supervision of ongoing counts
█ FEATURES & BENEFITS
Fibonacci Sequence
The number 13 is part of the Fibonacci sequence which is nature’s numbering system.
Even if a Prelude Renewal is not triggered, a trend may extend beyond Fibonacci number 13.
MATHR3E Flow Extension can unveil the next exhaustion points based on this same Fibonacci sequence (21, 34, 55) while respecting the logic of the Flow.
Exhaustion points
Potential exhaustion points emerge whenever the individual flows reach Fibonacci numbers.
These points may help traders to identify low-risk buy or sell opportunities.
Risk Lines
Once the trader has selected an entry point, the displayed risk lines should encourage the trader to remain disciplined and apply proper money management.
Position sizing remains the responsibility of the trader.
Available risk lines:
• buy/sell Preludes
• buy/sell Flows
Nested Flows
The indicator can track up to five nested Flows.
Nested exhaustion points will have markups brackets.
Renewing
During the path to reach point number 13, it is very common to trigger other Prelude in the same direction as the previously initiated trend.
MATHR3E Flow Extension will address these potential market renewals with multiples options:
• Prelude range qualifiers
• Renewal Multiplier
• Renewal Method (Before/On/After, Before/On, Only Before, After/On, Only After, Ignore All)
Alerts
Its Companion indicator also provides programmable alerts whose format can be adapted to be received on Discord servers
Configure your alerts and get notified on:
• Trend changes
• BUY or SELL P9
• BUY or SELL S13 to S55
• BUY or SELL A13 to A55
• BUY or SELL C13 to C34
MATHR3E RAMP-MA█ OVERVIEW
MATHR3E RAMP-MA (R-MA) is a trend following indicator.
█ CONCEPTS
Disclaimer:
MATHR3E RAMP-MA indicator is intended for advanced traders and may fit your profile, whether you are a day trader or a long-term investor.
It was originally developed by a renowned market analyst and documented in numerous books. Among them is the author Jason Perl.
It is recommended to have read the trading techniques mentioned in the books covering this indicator beforehand.
How to use:
MATHR3E RAMP-MA is useful for determining if a market is trending and when so, to procure entry points to initiate a trade in line with the expected directional move.
It can be applied to markets as a stop-loss, as well as a low-risk entry qualifier in conjunction with other indicators of the same author.
Moving Average (R-MA I):
Only displayed when market is trending
• Bull trend: Green (moving avg Lows/Period)
• Bear trend: Red (moving avg Highs/Period)
Moving Average (R-MA II):
Always displayed
• Bullish outlook on the market: the 3-day moving average must be positioned above the 34-day moving average
• Bearish outlook on the market: the 3-day moving average must be positioned below the 34-day moving average
█ FEATURES & BENEFITS
Versatile:
This indicator is based on relative price action, so you can apply it to any market or time frame without having to change the default settings.
Rate of Change:
The ROC is calculated for the fast and slow periods of the R-MA (II).
R-MA (II) is colored blue when its rate of change is advancing and maroon when it is declining.
Breakout Qualifier:
A close above/below the moving average R-MA (I) that is confirmed by the following price bar's opening price
Materialized on chart with Flags:
• Green when bear trend ends
• Red when bull trend ends
Alerts
Get notified on:
• UpTrend breakout
• DnTrend breakout
• Any breakout Signal
All Forex Sessions in One Script OnlyDraws all Forex Sessions:
*it works only with forex*
These Sessions can show Daily Highs and Lows:
- Pre-London / London
- Pre-New York / New York
It's possible to hide Highs and Lows having full background for these sessions
Daily Session Breaks
- Mondays use a different color
- Asian Boxes every day
- All Sessions Ranges/Colors are editable
-All elements (pre-London/London/Pre-New York/New York/Asian Boxes/Session Breaks) can be switched off independently
Open Daily LineThis is joining open of consecutive days which will help in knowing the trend between two-days.
Imbalance, ADR Daily Target & ADR > 3X1 x ADR Movement Calculated on the Asian Session - Times can be altered to suit your parameters
Daily Target is set High from low of Asian Range and Low from High of Asian Range
0-3X ADR Calculated and Displayed from a point you select for the following days targets - can be set Bearish or Bullish and ADR parameters can be altered
Imbalance Finder - Can be switched on or off to show imbalance on current time frame - default is off
SAR-adjusted extremesThis indicator shows how far (i.e. the absolute distance) of the extremes (i.e. high & low) are from the current parabolic SAR
Keltner Channel - Trend Based StrategyThis strategy is based on 3 main indicators.
1st indicator is a trend indicator, which consists of SMA and EMA
2nd is Keltner Channel
3rd is DM indicator.
The conditions for the entry of this strategy are following:
First of all the assets need to be in an upward trend, this will occur when the EMA will cross SMA. The next condition for the entry is the opening and the closure of the candle. The open price of the candle should be in the upper part of the Keltner Channel and the close price should be above the Keltner channel. The third condition for the DM indicator is to be above a certain benchmakr. This benchmark can be set in the settings of the strategy.
The strategy has two potential Take Profit levels and single stop-loss levels. For the more efficient way you may try an use the trailing stop or extend the number of take-profit levels.
Trader Pressure Index (TPX)This is my take on the script by RedK
I kept the algorithm exactly the same, but changed the layout and the default look back period. Most important is that the resulting line, the TPX, is now a histogram with green and red staves.
To put the histogram on a logical place in the graph, I changed the way the control/dominance level is implemented, it now lowers or highers the whole graph, this way the zero level becomes the ‘no interest’ level.
I added two horizontal lines at a distance of 40 because I feel that this is sort of an oversold / overbought indication. In practice not very convincing, but provides a visual comparison.
In this layout I explain that grass is growing on bull hills peaking up behind the foreground and blood is dripping from the bear hills.
Enjoy.
fDMI Binance Leveraged Tokensthis scans 20 tickers for my low dm indication. Telegram alerting included, and It is configured with all Binance leveraged tokens by default. For my shitcoining moonbros on CZ ;)
Profit/Loss Live trackerI small script to track the current active trade live.
**HOW IT WORKS**
change inputs in parameter
- Entry price
- Invested capital
- Comission fees
Stoch DMIStochastics applied to adjusted ADX to represent the trend direction. DM based sub-indicators added to hint the momentum and changes in the ADX.
Momentum RSIThis RSI is used to determine price Momentum and Overbought or Oversold Market conditions. When the RSI is between 50% and 70% price is considered to have upward momentum. When The RSI is between 50% and 30% price is considered to have downward momentum. When the RSI is between 40% and 60% price is considered to have no directional momentum and is considered to be in consolidation. When the RSI is above 70% price is to be considered Overbought. When the RSI is bellow 30% price is to be considered Oversold
Daily Play Ace SpectrumSo the idea of the Daily Play Ace Spectrum is to extend the Ace Spectrum .
By exposing more parameters, making a variation of the Ace Spectrum which is more configurable.
The idea is this makes the Daily Play Ace Spectrum more suitable for use on shorter (hourly and minute) time scales.
These specific parameters exposed still maintain the original form of the original Ace Spectrum, but loosen up the hard coded assumptions of the original indicator.
By exposing more parameters this now makes the Daily Ace Spectrum more sensitive to input.
Meaning the parameters you choose are important and will set the characteristic reaction of the indicator to the series you give it.
This presents a trade-off, the simplicity of the original indicator is sacrificed.
But what's gained is a more comprehensive indicator that now needs more careful parameter adjustment .
Related to the Ace Spectrum:
M ADX BARBar colors based on ADX and DI strength.
How to study:
ADX is less then 20 (adjustable value) is SILVER (no trend)
ADX >0 and DI delta (DI plus - DI minus) is >0 color LIME (trend up)
ADX>0 and DI delta <0 color RED (trend down)
ADX cross ADX Index ( adx+adx 14 period back)/2 color is BLACK and means start/end of trend
Converting the ADX into Bars for ease of use... (combining with RSI gives best results.. Timeframe 3min or more
The SetUpps Strategy EDGE SignalThe SetUpps Trading Strategy HM-415 EDGE, DM-130 EDGE and MD-11 are price action trading signal indicators. There is no need for downloading nor installing. It is an effective signal indicator that has proven to be successful in trading. We will help you set it up within minutes so that you can start trading immediately. It works in trading most markets!
How To Use SetUpps Strategy Signals:
For a BUY, the SetUpps Signal will display a blue arrow below the candle stick facing upwards when there is a buying opportunity, a pullback or a bullish move in the market.
For a SELL, the SetUpps Signal will display a red arrow above the candle stick facing downwards when the is a selling opportunity, a pullback or a bearish move in the market.
The indicator works best in at confluence points:
1. A Trend Line
2. A Support or Resistant Level
3. Supply or Demand Zone
4. Off Pivots
5. Off a Fibonacci Level
How To Set Alerts:
Click on the Alerts button on the charts
Under 'Condition', change from the currency pair displayed to 'The SetUpps Strategy EDGE Signal'
Then under 'Option' click on 'Once Per Bar'.
Make sure that the you tick the boxes that appeal to you under the 'Alert Actions' part (usually 'Notify on App' and 'Show Popup') and then click the 'Create' button at the bottom.
If you tick the 'Notify on App' box under 'Alerts Actions' the alerts would appear on your smart device if you have the Tradingview App set on the device.
Amongst many great benefits you will 1. Have the confidence to enter trades 2. Have the ability to enter trades after a pullback (something only experienced traders can spot that) and even more importantly 3. You can trade profitably with consistency even if you get stopped out a few times because the wins are usually bigger!
The SetUpps Trading Strategy signals will analyse price action automatically when there is a high probability of a profitable trade to enter.
It does work on most markets on all time charts but we will give you our recommended time frames that works best with this indicator.
The SetUpps Strategy signal is ideal for scalping, intraday and for swing trading.
This signal allows you to enter trades with confidence.
Disclaimer:
Previous performances are not an indication of any future performances. We are not investment adviser nor do we advice you on trading. All our opinions, information, analysis, prices and/or market commentary are not advice about investments. Any SetUpps™ Trading staff or partners or representatives can not warrant the completeness, accuracy or timeliness of any information we have supplied and we shall not be liable for any losses or damages, consequential or otherwise, incurred by the use of our products which may be the result of relying on the SetUpps™ Trading strategy. © 2020 SetUpps™ Trading.
The SetUpps™ Trading indicator is built for use on Tradingview. SetUpps™ Trading is not part of Tradingview.
Volatility DMBefore anything, take notes of the script limitations :
1) The script has the setting : "Max_bars_back" set to 390. This is required to use dynamic length and an "internal clock"
*390 is the normal number of bars in a typical stock trading day.
2) The script requires volume data to work correctly
* I use a way to represent volatility that requires ( volume + price movement + time, no sma , no stdev)
Why ? Because:
HIGH-LOW = Fail to get gap information, fail to get volume information
TR/ATR = Fail to get volume information
STDEV = Not very good with dynamic length as it use SMA and fails when length <2
Conclusion: this script is basically limited to stock trading.
If I could set Max_bars_back to 23 400 this would even work better with a 1 second time frame as more data would be entered in the system.
The idea behind the script is that volatility exists in two different formats depending on how you observe the situation.
Remember your physics class? Light can be a wave or a particle depending of the situation.
Volatility seems to share a strange similar property.
Format 1) Instant volatility . (Ex. High - Low, TR )
Format 2) Systemic volatility (Ex. Dynamic ATR with variable length)
I then speculate 3 lines. (on both directions, + or -)
What if all transaction were 50% directional according to the instant volatility
What if all transaction were 100% directional according to the instant volatility
What if all transaction were 200% directional according to the instant volatility
sum(0,5*instant volatility , dynamic time)
sum(instant volatility , dynamic time)
sum(2*instant volatility , dynamic time)
This give you potential signals lines and support/resistance .
I then calculate the real price movement
sum(price movement, dynamic time)
Then you need to compare the real price movement VS if all transaction were 100% directional following the system volatility
dif=(sum price movement/sum volatility )*dynamic time
Voila.
If the movement is directional then it follows the system volatility .
If the movement is not directional then it goes back toward the Zero.
Inspirational image :
en.wikipedia.org
Directional Movement Index + Average Directional IndexPersonal DMI and ADX script
ADX color change from positive vs negative momentum
DMI Color fill based on DMI+/- positive momentum
No fill color during lack of momentum
