Zigzag MatrixNothing fancy. Just converted the new matrix library of zigzags ( mZigzag ) into indicator as I sensed it can be useful as indicator.
On top of the standard zigzag, the indicator also tracks given oscillators, moving average and volume indicators on each pivots. More indicators can be added programmatically - but it will take up space in chart. Hence, so far I have only added option to add one per each type (moving average, oscillator and volume)
Settings are as below
Hewhomustnotbenamed
Trendline Pairs (Deep Search)After getting good response on Wedge-and-Flag-Finder-Multi-zigzag , I thought I will build little bit further into the script.
Main differences
Uses deep search algorithm for patterns instead of just using last 5 pivots
Flag pattern is removed so that we can concentrate mainly on trend line pairs
More number of overall patterns.
Trend Patterns Included
Channel - Rising, Falling, Ranging
Wedge - Rising, Falling + Expanding, Contracting types
Triangle - Expanding, Contracting
Indeterminate - Happens in rare cases where angle calculation results in error. It may still belong to one of the above patterns.
Please note:
This is published as free to use but protected source code indicator. This is because the script contains deep search algorithm which isn't made public yet and is also been used in other invite only scripts.
Will not be adding alerts to this indicator.
mZigzagLibrary "mZigzag"
Matrix implementation of zigzag to allow further possibilities.
Main advantage of this library over previous zigzag methods is that you can attach any number of indicator/oscillator information to zigzag
calculate(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots) calculates zigzag and related information
Parameters:
length : is zigzag length
ohlc : array of OHLC values to be used for zigzag calculation
indicatorHigh : Array of indicator values calculated based on high price of OHLC
indicatorLow : Array of indicators values calculated based on low price of OHLC
numberOfPivots : Number of pivots to be returned
Returns: pivotMatrix Matrix containing zigzag pivots, pivot bars, direction, ratio, and indicators added via indicatorHigh/indicatorLow
newZG is true if a new pivot is added to array
doubleZG is true if last calculation returned two new pivots (Happens on extreme price change)
draw(length, ohlc, indicatorLabels, indicatorHigh, indicatorLow, numberOfPivots, lineColor, lineWidth, lineStyle, showHighLow, showRatios, showIndicators) draws zigzag and related information
Parameters:
length : is zigzag length
ohlc : array of OHLC values to be used for zigzag calculation
indicatorLabels : Array of name of indicators passed
indicatorHigh : Array of indicator values calculated based on high price of OHLC
indicatorLow : Array of indicators values calculated based on low price of OHLC
numberOfPivots : Number of pivots to be returned
lineColor : zigzag line color. set to blue by default
lineWidth : zigzag line width. set to 1 by default
lineStyle : zigzag line style. set to line.style_solid by default
showHighLow : show HH, HL, LH, LL labels
showRatios : show pivot retracement ratios from previous zigzag
showIndicators : show indicator values
Returns: pivotMatrix Matrix containing zigzag pivots, pivot bars, direction, ratio, and indicators added via indicatorHigh/indicatorLow
zigzaglines array of zigzag lines
zigzaglabels array of zigzag labels
_matrixLibrary "_matrix"
Library helps visualize matrix as array of arrays and enables users to use array methods such as push, pop, shift, unshift etc along with cleanup activities on drawing objects wherever required
unshift(mtx, row) unshift array of lines to first row of the matrix
Parameters:
mtx : matrix of lines
row : array of lines to be inserted in row
Returns: resulting matrix of lines
unshift(mtx, row) unshift array of labels to first row of the matrix
Parameters:
mtx : matrix of labels
row : array of labels to be inserted in row
Returns: resulting matrix labels
unshift(mtx, row) unshift array of boxes to first row of the matrix
Parameters:
mtx : matrix of boxes
row : array of boxes to be inserted in row
Returns: resulting matrix of boxes
unshift(mtx, row) unshift array of linefill to first row of the matrix
Parameters:
mtx : matrix of linefill
row : array of linefill to be inserted in row
Returns: resulting matrix of linefill
unshift(mtx, row) unshift array of tables to first row of the matrix
Parameters:
mtx : matrix of tables
row : array of tables to be inserted in row
Returns: resulting matrix of tables
unshift(mtx, row) unshift array of int to first row of the matrix
Parameters:
mtx : matrix of int
row : array of int to be inserted in row
Returns: resulting matrix of int
unshift(mtx, row) unshift array of float to first row of the matrix
Parameters:
mtx : matrix of float
row : array of float to be inserted in row
Returns: resulting matrix of float
unshift(mtx, row) unshift array of bool to first row of the matrix
Parameters:
mtx : matrix of bool
row : array of bool to be inserted in row
Returns: resulting matrix of bool
unshift(mtx, row) unshift array of string to first row of the matrix
Parameters:
mtx : matrix of string
row : array of string to be inserted in row
Returns: resulting matrix of string
unshift(mtx, row) unshift array of color to first row of the matrix
Parameters:
mtx : matrix of colors
row : array of colors to be inserted in row
Returns: resulting matrix of colors
push(mtx, row) push array of lines to end of the matrix row
Parameters:
mtx : matrix of lines
row : array of lines to be inserted in row
Returns: resulting matrix of lines
push(mtx, row) push array of labels to end of the matrix row
Parameters:
mtx : matrix of labels
row : array of labels to be inserted in row
Returns: resulting matrix of labels
push(mtx, row) push array of boxes to end of the matrix row
Parameters:
mtx : matrix of boxes
row : array of boxes to be inserted in row
Returns: resulting matrix of boxes
push(mtx, row) push array of linefill to end of the matrix row
Parameters:
mtx : matrix of linefill
row : array of linefill to be inserted in row
Returns: resulting matrix of linefill
push(mtx, row) push array of tables to end of the matrix row
Parameters:
mtx : matrix of tables
row : array of tables to be inserted in row
Returns: resulting matrix of tables
push(mtx, row) push array of int to end of the matrix row
Parameters:
mtx : matrix of int
row : array of int to be inserted in row
Returns: resulting matrix of int
push(mtx, row) push array of float to end of the matrix row
Parameters:
mtx : matrix of float
row : array of float to be inserted in row
Returns: resulting matrix of float
push(mtx, row) push array of bool to end of the matrix row
Parameters:
mtx : matrix of bool
row : array of bool to be inserted in row
Returns: resulting matrix of bool
push(mtx, row) push array of string to end of the matrix row
Parameters:
mtx : matrix of string
row : array of string to be inserted in row
Returns: resulting matrix of string
push(mtx, row) push array of colors to end of the matrix row
Parameters:
mtx : matrix of colors
row : array of colors to be inserted in row
Returns: resulting matrix of colors
shift(mtx) shift removes first row from matrix of lines
Parameters:
mtx : matrix of lines from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of labels
Parameters:
mtx : matrix of labels from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of boxes
Parameters:
mtx : matrix of boxes from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of linefill
Parameters:
mtx : matrix of linefill from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of tables
Parameters:
mtx : matrix of tables from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of int
Parameters:
mtx : matrix of int from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of float
Parameters:
mtx : matrix of float from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of bool
Parameters:
mtx : matrix of bool from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of string
Parameters:
mtx : matrix of string from which the shift operation need to be performed
Returns: void
shift(mtx) shift removes first row from matrix of colors
Parameters:
mtx : matrix of colors from which the shift operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of lines
Parameters:
mtx : matrix of lines from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of labels
Parameters:
mtx : matrix of labels from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of boxes
Parameters:
mtx : matrix of boxes from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of linefill
Parameters:
mtx : matrix of linefill from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of tables
Parameters:
mtx : matrix of tables from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of int
Parameters:
mtx : matrix of int from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of float
Parameters:
mtx : matrix of float from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of bool
Parameters:
mtx : matrix of bool from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of string
Parameters:
mtx : matrix of string from which the pop operation need to be performed
Returns: void
pop(mtx) pop removes last row from matrix of colors
Parameters:
mtx : matrix of colors from which the pop operation need to be performed
Returns: void
clear(mtx) clear clears the matrix of lines
Parameters:
mtx : matrix of lines which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of labels
Parameters:
mtx : matrix of labels which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of boxes
Parameters:
mtx : matrix of boxes which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of linefill
Parameters:
mtx : matrix of linefill which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of tables
Parameters:
mtx : matrix of tables which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of int
Parameters:
mtx : matrix of int which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of float
Parameters:
mtx : matrix of float which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of bool
Parameters:
mtx : matrix of bool which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of string
Parameters:
mtx : matrix of string which needs to be cleared
Returns: void
clear(mtx) clear clears the matrix of colors
Parameters:
mtx : matrix of colors which needs to be cleared
Returns: void
Wedge and Flag Finder (Multi - zigzag)Here is a small attempt to automatically identify wedges and flags.
Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming wedge can be quite common. In future, will also try to add more pivots in pattern recognition to make the signal more accurate.
If wedge comes with a tail, then it is marked as flag :)
Settings are quite simple and they are as shown below
drawingutilsLibrary "drawingutils"
Private methods used in my scripts for some basic and customized drawings. No documentation provided as these are meant for private use only.
draw_line()
draw_label()
draw_linefill()
draw_labelled_line()
draw_labelled_box()
runTimer()
Zigzag Volume BarsBack to my favourite topic - Zigzags.
Here is an indicator which can help you visualise volume data on Zigzag swing highs and lows.
Settings are pretty simple and provides variety of display options
Display options are as demonstrated in the chart has following main types.
Regular
Plus/Minus - Stacked
Plus/Minus - Overlapping
Plus/Minus - Opposite Sides
Apart from the main display types, stacked display has several sub-types which determine whether to place green bar below red or the other way around.
Snapshot below shows example of each type.
Volatility/Volume ImpactWe often hear statements such as follow the big volume to project possible price movements. Or low volatility is good for trend. How much of it is statistically right for different markets. I wrote this small script to study the impact of Volatility and Volume on price movements.
Concept is as below:
Compare volume with a reference median value. You can also use moving average or other types for this comparison.
If volume is higher than median, increment positive value impact with change in close price. If volume is less than median, then increment negative value impact with change in close price.
With this we derive pvd and nvd which are measure of price change when volume is higher and lower respectively. pvd measures the price change when volume is higher than median whereas nvd measures price change when volume is lower than median.
Calculate correlation of pvd and nvd with close price to see what is impacting the price by higher extent.
Colors are applied to plots which have higher correlation to price movement. For example, if pvd has higher correlation to price movement, then pvd is coloured green whereas nvd is coloured silver. Similarly if nvd has higher correlation to price then nvd is coloured in red whereas pvd is coloured in silver.
Similar calculation also applied for volatility.
With this, you can observe how price change is correlated to high/low volume and volatility.
Let us see some examples on different markets.
Example 1: AMEX:SPY
From the chart snapshot below, it looks evident that SPY always thrive when there is low volatility and LOW VOLUME!!
Example 2: NASDAQ:TSLA
The picture will be different if you look at individual stocks. For Tesla, the price movement is more correlated to high volume (unlike SPY where low volume days define the trend)
Example 3: KUCOIN:BTCUSDT
Unlike stocks and indices, high volatility defined the trend for BTC for long time. It thrived when volatility is more. We can see that high volume is still major influencer in BTC price movements.
Settings are very simple and self explanatory.
Hint: You can also move the indicator to chart overlay for better visualisation of comparison with close price.
WVF - OscillatorAnother attempt on making use of CM-Williams-Vix-Fix-Finds-Market-Bottoms from Chris Moody - which is arguably one of the best indicator available on pine and tradingview platform. Every time I revisit this, I get new ideas on applying this method.
I have slightly altered formula to
highest(source)-source/highest(source)
from the original formula
highest(close)-low/highest(close)
Process is simple:
Calculate WVF for OHLC values separately
Calculate momentum on each of the WVF values based on distance from moving average
Plot the candles based on OHLC momentum.
Candle color depends on whether close, open and previous close. If close is higher than open and previous close, we get green coloured candles. If close is lower than previous close and open then we get red coloured candles. In all other cases, we will have silver candles.
High/Low bands are calculated based on median of highest and lowest values of VixFix. We also plot median of close which can be used in some cases.
How to use this to find market bottom. Look for one of the below conditions:
First red candle above high band - which signals momentum of vix fix is about to fall.
First red candle above median line - can be used only if upward momentum of wvf candles are trending well.
Crossunder of wvf candles under high band.
Possible exit scenarios
Green WVF candle formed above WVF high line
Entry is taken on first red candle above median line - but, candles turned green before WVF crossing under median line - may signal our thesis is wrong and price may drop further.
Some examples.
Intrabar OBV/PVTI got this idea from @fikira's script Intrabar-Price-Volume-Change-experimental
The indicator calculates OBV and PVT based on ticks. Since, the indicator relies on live ticks, it only starts execution after it is put on the charts. The script can be useful in analysing intraday buy and sell pressure. Details are color coded based on the values.
Data is presented in simple tabular format.
Formula for OBV and PVT can be found here:
www.investopedia.com
www.investopedia.com
Max drawdown daysA friendly reminder to myself and rest of the traders that market can stay low for prolonged time!!
Details are pretty simple.
Here is small comparison of the stats for major US indices.
Can also be applied to stocks. Cells are highlighted in red background ii
Drawdown/Recovery is still in progress for historical stats
Current drawdown bars/recovery bars are higher than that of median of All time stats.
eHarmonicpatternsExtendedLibrary "eHarmonicpatternsExtended"
Library provides an alternative method to scan harmonic patterns. This is helpful in reducing iterations. Republishing as new library instead of existing eHarmonicpatterns because I need that copy for existing scripts.
scan_xab(bcdRatio, err_min, err_max, patternArray) Checks if bcd ratio is in range of any harmonic pattern
Parameters:
bcdRatio : AB/XA ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
scan_abc_axc(abcRatio, axcRatio, err_min, err_max, patternArray) Checks if abc or axc ratio is in range of any harmonic pattern
Parameters:
abcRatio : BC/AB ratio
axcRatio : XC/AX ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
scan_bcd(bcdRatio, err_min, err_max, patternArray) Checks if bcd ratio is in range of any harmonic pattern
Parameters:
bcdRatio : CD/BC ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
scan_xad_xcd(xadRatio, xcdRatio, err_min, err_max, patternArray) Checks if xad or xcd ratio is in range of any harmonic pattern
Parameters:
xadRatio : AD/XA ratio
xcdRatio : CD/XC ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
isHarmonicPattern(x, a, b, c, d, flags, errorPercent) Checks for harmonic patterns
Parameters:
x : X coordinate value
a : A coordinate value
b : B coordinate value
c : C coordinate value
d : D coordinate value
flags : flags to check patterns. Send empty array to enable all
errorPercent : Error threshold
Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names
isHarmonicProjection(x, a, b, c, flags, errorPercent) Checks for harmonic pattern projection
Parameters:
x : X coordinate value
a : A coordinate value
b : B coordinate value
c : C coordinate value
flags : flags to check patterns. Send empty array to enable all
errorPercent : Error threshold
Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names.
get_prz_range(x, a, b, c, patternArray, errorPercent, start_adj, end_adj) Provides PRZ range based on BCD and XAD ranges
Parameters:
x : X coordinate value
a : A coordinate value
b : B coordinate value
c : C coordinate value
patternArray : Pattern flags for which PRZ range needs to be calculated
errorPercent : Error threshold
start_adj : - Adjustments for entry levels
end_adj : - Adjustments for stop levels
Returns: Start and end of consolidated PRZ range
get_prz_range_xad(x, a, b, c, patternArray, errorPercent, start_adj, end_adj) Provides PRZ range based on XAD range only
Parameters:
x : X coordinate value
a : A coordinate value
b : B coordinate value
c : C coordinate value
patternArray : Pattern flags for which PRZ range needs to be calculated
errorPercent : Error threshold
start_adj : - Adjustments for entry levels
end_adj : - Adjustments for stop levels
Returns: Start and end of consolidated PRZ range
Historical Range (Using eStrategy library)⬜ The script is intended to cover few things.
▶ Strategy testing framework based on eStrategy library
▶ Using historicalrange of values for identifying better entry and exits.
This is also built on top of the Systematic Investment Plan script published here
⬜ Strategy testing framework
Strategy testing framework is different from tradingview default strategy testing from few ways to suit the needs of systematic investments.
▶ Supports recurring investment on top of initial investment to emulate adding further funds to the investment bucket on regular basis.
▶ Better calculation of drawdowns based on daily equity rather than drawdown calculated only on close of trade.
▶ Provides better control over how much strategy can reduce and reload
Having said that, this framework is not intended as replacement for tradingview strategy framework. It is not as comprehensive as tradingview strategy framework. But, created to address few specific styles of strategy.
▶ No detailed trade stats on individual trades. But, this can be implemented in future versions
▶ At present only facilitates long positions.
▶ UI features such as plotting trades on chart are not available.
▶ Does not take into consideration of slippage and brokerage - this is not an issue because the framework is not meant for short term trades. It is only made for daily timeframes.
▶ No pyramiding or leverage possible.
And many more...
Framework can be used for similar strategies based on market timing with few small changes.
⬜ Historical Range Strategy
Concept here is, instead of taking indicators such as oscillators as is, use historical percentile to derive better oversold and overbought conditions. Strategy provides different options to base historical range. This can either be based on
▶ Band percent
▶ Oscillator
Different choices of bands and oscillators are also available to chose. However, have not done extensive testing on all the combinations.
⬜ Settings
▶ Initial and recurring investment settings (As confirm inputs)
▶ Buy and hold and strategy specific settings to be used for stat calculation
▶ Band and oscillator parameters
These are straightforward parameters which is used for defining the base of either bands or oscillators.
▶ Percentile moving average parameter
Percentile MA is used with Percentile to find entry and exit signals based on crossover and crossunder.
Feedbacks and suggestions welcome.
eStrategyLibrary "eStrategy"
Library contains methods which can help build custom strategy for continuous investment plans and also compare it with systematic buy and hold.
sip(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice) Depicts systematic buy and hold over period of time
Parameters:
startYear : Year on which SIP is started
initialDeposit : Initial one time investment at the start
depositFrequency : Frequency of recurring deposit - can be monthly or weekly
recurringDeposit : Recurring deposit amount
buyPrice : Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
Returns: totalInvestment - initial + recurring deposits
totalQty - Quantity of units held for given instrument
totalEquity - Present equity
customStrategy(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice, sellPrice, initialInvestmentPercent, recurringInvestmentPercent, signal, tradePercent) Allows users to define custom strategy and enhance systematic buy and hold by adding take profit and reloads
Parameters:
startYear : Year on which SIP is started
initialDeposit : Initial one time investment at the start
depositFrequency : Frequency of recurring deposit - can be monthly or weekly
recurringDeposit : Recurring deposit amount
buyPrice : Indicatinve buy price. Use high to be conservative. low, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
sellPrice : Indicatinve sell price. Use low to be conservative. high, close, open, hl2, hlc3, ohlc4, hlcc4 are other options.
initialInvestmentPercent : percent of amount to invest from the initial depost. Keep rest of them as cash
recurringInvestmentPercent : percent of amount to invest from recurring deposit. Keep rest of them as cash
signal : can be 1, -1 or 0. 1 means buy/reload. -1 means take profit and 0 means neither.
tradePercent : percent of amount to trade when signal is not 0. If taking profit, it will sell the percent from existing position. If reloading, it will buy with percent from cash reserve
Returns: totalInvestment - initial + recurring deposits
totalQty - Quantity of units held for given instrument
totalCash = Amount of cash held
totalEquity - Overall equity = totalQty*close + totalCash
Systematic Investment PlanTradingview default strategy tester has few limitations. To name some:
Tradingview default strategy tester does not have option for periodic investment.
Does not allow reduce and refill kind of operations.
Comparison to buy and hold equity does not take into consideration on number of days invested
Hence, I created this as base for my further experiments with respect to strategies involving market timing.
Settings are quite simple and self explanatory.
historicalrangeLibrary "historicalrange"
Library provices a method to calculate historical percentile range of series.
hpercentrank(source) calculates historical percentrank of the source
Parameters:
source : Source for which historical percentrank needs to be calculated. Source should be ranging between 0-100. If using a source which can beyond 0-100, use short term percentrank to baseline them.
Returns: pArray - percentrank array which contains how many instances of source occurred at different levels.
upperPercentile - percentile based on higher value
lowerPercentile - percentile based on lower value
median - median value of the source
max - max value of the source
distancefromath(source) returns stats on historical distance from ath in terms of percentage
Parameters:
source : for which stats are calculated
Returns: percentile and related historical stats regarding distance from ath
distancefromma(maType, length, source) returns stats on historical distance from moving average in terms of percentage
Parameters:
maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median
length : Moving Average Length
source : for which stats are calculated
Returns: percentile and related historical stats regarding distance from ath
bpercentb(source, maType, length, multiplier, sticky) returns percentrank and stats on historical bpercentb levels
Parameters:
source : Moving Average Source
maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median
length : Moving Average Length
multiplier : Standard Deviation multiplier
sticky : - sticky boundaries which will only change when value is outside boundary.
Returns: percentile and related historical stats regarding Bollinger Percent B
kpercentk(source, maType, length, multiplier, useTrueRange, sticky) returns percentrank and stats on historical kpercentk levels
Parameters:
source : Moving Average Source
maType : Moving Average Type : Can be sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median
length : Moving Average Length
multiplier : Standard Deviation multiplier
useTrueRange : - if set to false, uses high-low.
sticky : - sticky boundaries which will only change when value is outside boundary.
Returns: percentile and related historical stats regarding Keltener Percent K
dpercentd(useAlternateSource, alternateSource, length, sticky) returns percentrank and stats on historical dpercentd levels
Parameters:
useAlternateSource : - Custom source is used only if useAlternateSource is set to true
alternateSource : - Custom source
length : - donchian channel length
sticky : - sticky boundaries which will only change when value is outside boundary.
Returns: percentile and related historical stats regarding Donchian Percent D
oscillator(type, length, shortLength, longLength, source, highSource, lowSource, method, highlowLength, sticky) oscillator - returns Choice of oscillator with custom overbought/oversold range
Parameters:
type : - oscillator type. Valid values : cci, cmo, cog, mfi, roc, rsi, stoch, tsi, wpr
length : - Oscillator length - not used for TSI
shortLength : - shortLength only used for TSI
longLength : - longLength only used for TSI
source : - custom source if required
highSource : - custom high source for stochastic oscillator
lowSource : - custom low source for stochastic oscillator
method : - Valid values for method are : sma, ema, hma, rma, wma, vwma, swma, highlow, linreg, median
highlowLength : - length on which highlow of the oscillator is calculated
sticky : - overbought, oversold levels won't change unless crossed
Returns: percentile and related historical stats regarding oscillator
Auto Harmonic Projection - Ultimate [Trendoscope]Hello traders, Many who used Auto Harmonic Pattern - Ultimate had enquired with me about having option to project PRZ before patterns formed. We always replied that it is in pipeline but will not be part of existing script. Finally, we decided to utilise part of our Christmas and new year break to make it happen.
Lets get started..
⬜ Process
▶ Unlike Auto Harmonic Patterns Ultimate, instead of scanning whole XABCD for harmonic pattern, this script only collects XABC and projects PRZs (Possible D zones)
▶ Once possible patterns are found, lines are drawn to connect XABC and boxes to project PRZs. There can be more than 1 PRZs for XABC combination. If PRZs of multiple patterns overlap, they are joined and shown as single PRZ where all patterns are listed against it.
▶ If price crosses C, pattern is considered as failed. If price stays between C and PRZs for long time, patterns are timed out. In either case, patterns and projections are removed from chart.
▶ Pattern is considered to be active once price reach B. Until then Pattern is inactive.
▶ PRZs are tracked individually even if they belong to same pattern. PRZ is considered active only if price hits PRZ and completes the pattern. Till then PRZ is considered inactive.
▶ After activating, PRZs can either reach successful level if price moves in reversal direction. Or it can reach failure if price reaches stop.
▶ PRZs are removed from chart once it either reaches stop or success level. But, if more PRZs are present for pattern, pattern will still be there on chart.
▶ Pattern is kept active till all the PRZs are either hit stop or success or pattern itself is either failed or timed out.
Note:
Whenever we refer pattern - consider it as lines joining X, A, B, C and D if PRZ is active.
Wherever we refer PRZ - consider it as box representing potential reversal zones.
⬜ Screen components
▶ Inactive Patterns and PRZ - Patterns with inactive PRZs are represented as lines joining XABC. There will not be line connecting D and PRZs are shown with faded colour and smaller fonts.
▶ Active Patterns and PRZ - Patterns with active PRZ are represented with full pattern and line fills. PRZ will also show stop and success level. Note that success level is not target level - but a position used for validating the outcome.
▶ Stats table - Open stats table contains patterns and corresponding PRZ levels. Stats will have red background for bearish patterns/projections and green background for bullish patterns/projections. Content text colour is matched with that of PRZ and Pattern line colors so that users can identify the matching stats easily.
▶ Run timer - Tells how long the script backtest is running. Run timer will have red background for TRIAL access or if right access key is not used. Otherwise, it will have green background colour. This does not have much significance now as there are no closed stats available. It will be added in the future versions.
▶ Watermark - Watermark appears only if valid key is not used or TRIAL access key is used.
Bit more details about open stats table here
⬜ Settings
⚪ Alert Key
Alert key is given for active subscribers. This key is required in order to set alerts or in order to run the script for more than 30 bars on single instrument without interruption. Not having alert key will not stop users from using the indicator once they acquire access - but it will only limit few capabilities. Key is not given for trial access.
Key is prompted every time users add indicator to chart. If you are provided with key, please use it instead of the TRIAL access key.
If you are using valid key,
You will see run timer in green instead of red background
No TRIAL ACCESS watermark on the chart.
⚪ Zigzag and pattern detection settings
⚪ Pattern Selection settings
⚪ Stats and Display
⚪ Colors and themes
⚪ Backtest Settings
Not important for now as there are no closed pattern stats. Kept for future usage. Will impact the timer widget.
⚪ Alerts
▶ Types and settings
▶Setting alerts is simple. When indicator is loaded on chart (Make sure you are using the right alert key), goto alerts and select the AHProjection from Condition dropdown. Update other parameters such as alert name, webhook details as required and press create
▶ Examples of alerts
⬜ Status Tracking
Script tracks two types of statuses.
⚪ Harmonic Pattern Projection Status : Tracks projection as a whole for each combination of X, A, B, C. Different states available are
Awaiting Activation : Any pattern projection when formed by default goes into Inactive State and hence set to Awaiting Activation.
Projection Active : Once price reach B, then pattern projection is considered active
Entry Reached : Once price reach the nearest PRZ level, it is considered as Entry reached. Status will remain as entry reached even if PRZ is removed and next PRZ level is yet to be reached.
Projection Invalidated : If price goes beyond C level, then pattern projection is considered invalidated. It can happen at any stage and even after successful completion of few PRZ ranges.
Projection Timed Out : If price keeps between PRZ and C for considerable time, it will timed out and removed from chart.
⚪ Harmonic Pattern Projection PRZ Status Tracks individual PRZs separately which may or may not belong to same patterns. Different states available are
Awaiting Activation : Any PRZ is considered inactive before price reaching the PRZ level.
Active : Once price reaches PRZ, it will become active. Active PRZs are highlighted with line fill on chart. Active PRZ also display success and stop levels. PRZ is not removed unless price hits one of these levels or the entire pattern is timed out.
Successful : If an active PRZ price reaches success level, then PRZ projection is considered successful. Once successful, PRZ will removed from chart
Failed : If an active PRZ price reaches stop level, then PRZ projection is considered failure. Once failed PRZ will be removed from chart.
Manual Harmonic Projections - With interactive inputsThis is another script involving interactive inputs. This is similar to Manual-Harmonic-Patterns-With-interactive-inputs . But, instead of taking XABCD and verifying if it confirms to any pattern, here we only take XABC and project all PRZs.
Example, upon adding the script to chart, it will prompt to select 4 points on chart by clicking on it. if we select X, A, B, C as shown in the chart below, we can see the projection of multiple PRZs. Mid of nearest PRZ is considered as D and rest of the pattern is drawn based on this. However, the pattern can have multiple PRZs. All overlapping PRZs are combined together and shown as one along with merged pattern labels. But, if there is gap between PRZs, they are shown separately.
If no projections found, then patterns and projections are not drawn. However, you can still see XABC lines on the chart.
Manual Harmonic Patterns - With interactive inputsThis script is a drawing tool which allows users to draw XABCD on the chart and script will tell whether there is any harmonic patterns on the drawings made. The script is based on interactive inputs and requires users to chose XABCD points.
Please note
This is not a scanner and it will not scan historical bars for harmonic patterns. This needs to be used rather as drawing tool instead.
Script will not check if selected pivots are correct. It assumes users to know how to select the right XABCD based on pivot high/lows. Bullish pattern will have X, B and D as pivot lows and A,C as pivot highs. Similarly bearish patterns will have X, B, D as pivot highs and A, C as pivot lows.
Script will not check for overflow conditions. For example, if price crosses, XB or BD line, then pattern is considered to be invalid. But, this check cannot be made in this script and we require users to be aware of this condition and select input accordingly.
Order of inputs should be in ascending order. X pivot should come before A and then, B, C, D and F. This again is users responsibility to select pivots in right order.
What happens after selecting XABCD?
If selected pattern is valid harmonic pattern, it will
Draw XABCD lines and labels
Fill harmonic triangles
Show PRZ box which shoes the name of valid patterns.
If it is not valid harmonic pattern, then users will see blank XABCD line without any PRZ or filled harmonic triangles.
Example:
1. When it is valid pattern
2. When it is not valid pattern
eHarmonicpatternsLibrary "eHarmonicpatterns"
Library provides an alternative method to scan harmonic patterns. This is helpful in reducing iterations
scan_xab(bcdRatio, err_min, err_max, patternArray) Checks if bcd ratio is in range of any harmonic pattern
Parameters:
bcdRatio : AB/XA ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
scan_abc_axc(abcRatio, axcRatio, err_min, err_max, patternArray) Checks if abc or axc ratio is in range of any harmonic pattern
Parameters:
abcRatio : BC/AB ratio
axcRatio : XC/AX ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
scan_bcd(bcdRatio, err_min, err_max, patternArray) Checks if bcd ratio is in range of any harmonic pattern
Parameters:
bcdRatio : CD/BC ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
scan_xad_xcd(xadRatio, xcdRatio, err_min, err_max, patternArray) Checks if xad or xcd ratio is in range of any harmonic pattern
Parameters:
xadRatio : AD/XA ratio
xcdRatio : CD/XC ratio
err_min : minimum error threshold
err_max : maximum error threshold
patternArray : Array containing pattern check flags. Checks are made only if flags are true. Upon check flgs are overwritten.
isHarmonicPattern(x, a, c, c, d, flags, errorPercent) Checks for harmonic patterns
Parameters:
x : X coordinate value
a : A coordinate value
c : B coordinate value
c : C coordinate value
d : D coordinate value
flags : flags to check patterns. Send empty array to enable all
errorPercent : Error threshold
Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names
isHarmonicProjection(x, a, c, c, flags, errorPercent) Checks for harmonic pattern projection
Parameters:
x : X coordinate value
a : A coordinate value
c : B coordinate value
c : C coordinate value
flags : flags to check patterns. Send empty array to enable all
errorPercent : Error threshold
Returns: Array of boolean values which says whether valid pattern exist and array of corresponding pattern names
Auto TrendLines and Support Resistance - Ultimate [Trendoscope]Have been working on this script from sometime. Thought it would be right time to publish this now :)
This is enhanced and combined version of two open source scripts.
Auto-TrendLines-HeWhoMustNotBeNamed
Divergence-Support-Resistence
⬜ Major Enhancements to open source
▶ Concept of drawing trendlines remains same. But, logic has been altered to allow considering existing trendlines before scanning new one and also finding the strongest of all.
▶ Strength of trendlines now takes more factors into consideration such as weightage of each candles from two points with respect to a given trendline.
▶ Angle of the trendlines are calculated and considered for determination of overall trend.
▶ Trendlines come with invalidation point and trend definition also can be based on single trendline instead of multiple ones.
▶ Improved divergence and based support/resistance calculations which yield less but more significant levels.
⬜ Components
Below are the summary of indicator components
⚪ Trend Lines Summary Widget
This can have up-to 4 types of trend lines.
Uptrend Lower pivot based
Uptrend Higher pivot based
Downtrend Lower pivot based
Downtrend Higher pivot based
Direction of the lines dependent on slope of the trend as well. If angle is not steep, the trend lines are considered as neutral. Meanwhile, trend lines which are too steep are also ignored. Angle calculation depends on the ATR and Angle loopback input parameters which can be altered. Also TrendLines with negative Line strength or formed way too back are ignored based on the settings. Hence, it is perfectly normal to have less than 4 trend lines on charts at times.
⚪ S/R Summary Widget
This widget has been used in other indicators. Notations are same though there are logical improvements to derive only the high impact levels.
⬜ Settings
⚪ Trend Detection Settings
These are the settings used for scanning the trend lines. Summary of these settings are as below:
⚪ Pattern Detection Settings
The pattern detection settings help identify overall trend pattern and status based on the combination of higher and lower pivot trend lines.
Important bit here is the Sort Order which impacts the identification of overall trend. Available types are:
Distance : Sort based on distance from close price
LineStrength : Sort based on line strength of the trend line
Latest : Sort based on when the trend lines are formed.
⚪ Support/Resistance Settings
Base settings for calculating divergence based Support/Resistance.
⚪ Widgets
Widgets settings allow users to control display of Trend Lines and S/R summary widgets.
⚪ Alerts
Below are the settings for configuring alerts.
Alerts are formatted in Json for easier consumption via web-hook.
X-Mas TreeLet's play a game!! Find your Christmas Tree and post it in the comments.
How to use the script?
Open any instrument which best describes the Christmas Tree (Preferably on hourly timeframe).
Apply X-Mas Tree script on the chart.
Enjoy the snowfall, changes in lightings and other animations. Animations only happen if the instrument is in trading session. So, stocks and indexes do not work on weekends and holidays. Use crypto as they are traded 24X7.
Unfortunately cannot post moving charts. But, snapshot of chart will do :)
Well, Please don't ask these questions for this script (Also thanks to @Bjorgum for contributing to this section) 😃
Can you please add alerts?
Does it repaint?
Can we use this for crypto/stock/forex bla bla?
Can you convert this to strategy?
How can I access this indicator?
Can you please give access or how much does it cost?
Can you make it available for MTF?
Indicator is broken. Getting so and so error message etc.
Wish you all MERRY X-MAS and HAPPY NEW YEAR!!
Supertrend - Ladder ATRThis is a supertrend with slight twisted concept which can be very benefecial in strong trending markets to reduce stop loss distance and exit slightly quicker.
⬜ Concept
▶ When the instrument is trending up, regular ATR shows high values if there are big green candles. This affect the stoploss distance in regular supertrend which leads to wide stops or delayed lagging. When you are in long trade, what matters for stoploss is how much a negative candle can move within bar. Hence, using ATR derived only based on red candles is more beneficial for trailing stops on long signals. Same applies to short trades where using ATR derived from only green candles is more efficient than overall ATR.
▶ ATR will be minimal when the volatility is less and ATR will increase with volatility. That means, once you are in trade, the trailing of stoploss also will vary based on ATR (or volatility). With regular ATR and supertrend, chances of stop loss distance widening is high with increased volatility even though stoploss levels will not move down. This again poses the risk of higher drawdown during trade closure and also keeps in the trade during ranging market. To avoid this, the second trick we are using here is only to reduce the atr stoploss difference when in trade. That is, when in long trade and negative candles ATR is increasing, we will not consider that. We will consider the new ATR only if it is lesser than previous bar ATR.
Effect of these changes on the trending market is quite visual. Lets take example of USDTRY
Settings are quite simple and does not vary much from regular supertrend settings.
