Previous Day High and Low by DRK TradingThe Previous Day High and Low Indicator is a simple yet powerful tool designed for traders who want to keep track of critical levels from the previous trading session. This indicator automatically marks the high and low of the previous day on your chart with dashed horizontal lines, making it easier to identify key support and resistance zones.
Features:
Horizontal Lines: Clearly marks the previous day's high and low levels.
Dynamic Updates: Automatically updates at the start of a new trading day.
Visual Clarity: Includes labels at the start of the day for quick reference.
Customizable: Works seamlessly across all timeframes and instruments.
Use Case:
Identify potential breakout and reversal zones.
Enhance intraday and swing trading strategies by focusing on key price levels.
Plan stop-loss and target levels based on historical price movements.
This indicator is perfect for price action traders, intraday scalpers, and swing traders who rely on past price behavior to make informed decisions.
Options
vijay Price Near VWAP & Delivery%price near vwap and delivery average percentage grater than 5 days average delivery
OptionStrategyV6Script is implementing an options strategy using backtesting logic and buy/sell signals based on a combination of technical indicators.
Backtest Range:
You have two inputs that set the start and end dates for backtesting.
testStart and testEnd allow you to control the date range for backtesting, with default values from January 1, 2024, to January 1, 2026.
Signal Factor:
signalFactor adjusts how "fast" or "slow" the signal generation logic is. A value of 1 is considered fast, and a value of 2 is slow.
Entry Logic:
A unique label is generated for each buy entry based on the buyCounter variable, which increments on every buy signal.
Each buy signal triggers a strategy.entry order.
Exit Logic:
The position is exited at the open of the next candle using the strategy.exit function with a limit of open + 1. This ensures the exit occurs at the opening price of the next bar.
NSE & BSE Option Chain - Auto Data InputDefinition
An options chain is a list of all available option contracts for a specific security, organized by expiration date and strike price.
What Is an Options Chain?
Understanding how to read and analyze options chains is crucial for investors venturing into options trading. These display all available option contracts for a particular security, typically in a table format that organizes contracts by expiration date and strike price. The tool provides a wealth of information at a glance, including present prices, trading volume, and implied volatility (IV) for both call and put options.
While the long list of prices and other information can look at first to be overly complicated, learning to navigate an options chain will significantly improve your ability to trade in these derivatives and identify prospects in the market. As options continue to gain popularity among retail investors, mastering the intricacies of the options chain has become an essential skill for those looking to expand their trading strategies beyond traditional stock investments.
Key Takeaways
An options chain displays all available option contracts for a security, organized by expiration date and strike price.
Options chains typically show each contract's bid price, ask price, volume, open interest, and implied volatility (IV).
Options chains can be used to identify trading prospects, such as mispriced options or favorable risk-reward scenarios.
Understanding Options Chains
Option chains list all available option contracts for a particular underlying security. For traders, they provide a snapshot of crucial information about each contract, including strike prices, expiration dates, and market prices.
Typically organized in a table, options chains have separate sections for call and put options. The rows represent different strike prices, while the columns show various data points for each contract. This lets traders quickly compare options with different characteristics to make informed decisions.
Decoding Options Chains
The columns of an option chain, as seen in the example chart above, include the following:
Strike price: The price the option holder can buy (for calls) or sell (for puts) the underlying asset.
Expiration date: The last day the option contract is valid.
1
Bid price: The highest price a buyer is willing to pay for the option.
Ask price: The lowest price a seller is willing to accept for the option.
Last price: The most recent trading price for the option.
Percentage change: The net change column reflects the direction (up, down, or flat) for the underlying asset, as well as the amount of the price shift.
Volume: The number of contracts traded during the current session.
2
Open interest: The total of outstanding contracts.
Mastering the art of reading options chains is essential for any serious options trader. It's where market sentiment, price inefficiencies, and trading prospects all come together.
In options trading, information is power. A well-analyzed option chain can reveal market inefficiencies that savvy traders can exploit. For example, comparing the bid-ask spread across different strike prices can help identify more liquid options, while analyzing open interest can help you understand market sentiment.
A skilled user can quickly decipher an options chain for what it says about price moves and where there are high and low levels of liquidity. For the best trades, this is critical information. For those not quite there yet, let's break down other parts of the options chain tables into manageable parts:
Calls vs. puts: Option chains typically separate call options (the right to buy) from put options (the right to sell). This division allows traders to focus straightaway on bullish or bearish strategies.
Filters and customization: Most trading platforms enable you to customize your options chain view. You can quickly filter by expiration date, strike price range, or specific Greek values to focus on the most relevant contracts.
The Bottom Line
The options chain is indispensable for options traders, providing a comprehensive view of all available contracts for a given security. By learning to read and analyze options chains, you can gain greater clarity about market sentiment, identify trading prospects, and make more informed decisions for your options strategies.
While it takes a bit of time to become proficient in interpreting all the data presented, mastering the options chain is crucial for those looking to leverage the full potential of options trading in their investment approaches.
Fully Auto Data Input for All Currently Available NSE Indices and Stock & BSE Sensex Indices
NSE:NIFTY NSE:HFCL
NSE & BSE Option Chain - Auto Option Data InputDefinition
An options chain is a list of all available option contracts for a specific security, organized by expiration date and strike price.
What Is an Options Chain ?
Understanding how to read and analyze options chains is crucial for investors venturing into options trading. These display all available option contracts for a particular security, typically in a table format that organizes contracts by expiration date and strike price. The tool provides a wealth of information at a glance, including present prices, trading volume, and implied volatility (IV) for both call and put options.
While the long list of prices and other information can look at first to be overly complicated, learning to navigate an options chain will significantly improve your ability to trade in these derivatives and identify prospects in the market. As options continue to gain popularity among retail investors, mastering the intricacies of the options chain has become an essential skill for those looking to expand their trading strategies beyond traditional stock investments.
Key Takeaways
An options chain displays all available option contracts for a security, organized by expiration date and strike price.
Options chains typically show each contract's bid price, ask price, volume, open interest, and implied volatility (IV).
Options chains can be used to identify trading prospects, such as mispriced options or favorable risk-reward scenarios.
Understanding Options Chains
Option chains list all available option contracts for a particular underlying security. For traders, they provide a snapshot of crucial information about each contract, including strike prices, expiration dates, and market prices.
Typically organized in a table, options chains have separate sections for call and put options. The rows represent different strike prices, while the columns show various data points for each contract. This lets traders quickly compare options with different characteristics to make informed decisions.
Decoding Options Chains
The columns of an option chain, as seen in the example chart above, include the following:
Strike price: The price the option holder can buy (for calls) or sell (for puts) the underlying asset.
Expiration date: The last day the option contract is valid.
1
Bid price: The highest price a buyer is willing to pay for the option.
Ask price: The lowest price a seller is willing to accept for the option.
Last price: The most recent trading price for the option.
Percentage change: The net change column reflects the direction (up, down, or flat) for the underlying asset, as well as the amount of the price shift.
Volume: The number of contracts traded during the current session.
2
Open interest: The total of outstanding contracts.
Mastering the art of reading options chains is essential for any serious options trader. It's where market sentiment, price inefficiencies, and trading prospects all come together.
In options trading, information is power. A well-analyzed option chain can reveal market inefficiencies that savvy traders can exploit. For example, comparing the bid-ask spread across different strike prices can help identify more liquid options, while analyzing open interest can help you understand market sentiment.
A skilled user can quickly decipher an options chain for what it says about price moves and where there are high and low levels of liquidity. For the best trades, this is critical information. For those not quite there yet, let's break down other parts of the options chain tables into manageable parts:
Calls vs. puts: Option chains typically separate call options (the right to buy) from put options (the right to sell). This division allows traders to focus straightaway on bullish or bearish strategies.
Filters and customization: Most trading platforms enable you to customize your options chain view. You can quickly filter by expiration date, strike price range, or specific Greek values to focus on the most relevant contracts.
The Bottom Line
The options chain is indispensable for options traders, providing a comprehensive view of all available contracts for a given security. By learning to read and analyze options chains, you can gain greater clarity about market sentiment, identify trading prospects, and make more informed decisions for your options strategies.
While it takes a bit of time to become proficient in interpreting all the data presented, mastering the options chain is crucial for those looking to leverage the full potential of options trading in their investment approaches.
Fully Auto Option Data Input for All Currently Available NSE Indices and Stock & BSE Sensex Indices
Tradesteady Options Selling Crypto Options/ Indian Options Tradesteady Options Selling Indicator
Overview:
The Tradesteady Options Selling Indicator is a robust and versatile tool designed for trading professionals and enthusiasts. This indicator simplifies trading decision-making in Crypto Options Selling and Indian options markets by providing key insights into market structure, trend dynamics, and potential entry/exit points. It incorporates Smart Money Concepts, Order Block detection, and advanced analytics, helping users make informed and confident trading decisions.
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Features:
1. Market Structure Analysis:
- Real-time and historical display of bullish/bearish break of structure (BOS) and change of
character (CHoCH).
- Identification of swing points with customizable labels.
2. Order Blocks:
- Automatic detection and plotting of internal and swing order blocks.
- Filtering of volatile order blocks using ATR or cumulative mean range.
3. Trend Visualization:
- Color-coded trend candles for easy interpretation.
- Strong/weak high/low identification for swing analysis.
4. Fair Value Gaps (FVG):
- Detection of bullish and bearish FVGs.
- Configurable gap extension and timeframe sensitivity.
5. Equal Highs and Lows (EQHL):
- Automatic plotting of equal highs and lows with adjustable sensitivity.
6. Premium/Discount Zones:
- Visualization of premium, discount, and equilibrium zones on the chart.
7. Alerts and Notifications:
- Comprehensive alerts for BOS, CHoCH, order block breakouts, TP, and SL hits.
- Suitable for automated trading systems or manual monitoring.
8. Take Profit (TP) and Stop Loss (SL):
- Supports both point-based and percentage-based TP/SL levels.
- Automatic plotting of entry, TP1-TP4, and SL levels with configurable visual styles.
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Disclaimer:
The Tradesteady Options Selling Indicator is intended for educational and informational purposes only. Users are advised to perform their due diligence and consult with financial advisors before making trading decisions.
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Entry-Exit pointThis indicator combines Bollinger Bands and RSI (Relative Strength Index) to generate entry and exit signals based on price movements and trend conditions.
### Key Features:
- **Bollinger Bands**: The indicator uses Bollinger Bands to assess volatility, with the upper and lower bands plotted around a simple moving average (SMA) of the price. The bands expand and contract based on the standard deviation, providing insights into potential overbought or oversold conditions.
- **RSI**: The RSI is used to determine if the price is overbought or oversold. In this case, it highlights conditions when the RSI is below 40 (oversold) for bullish signals and above 65 (overbought) for bearish signals.
- **Trend Analysis**: The indicator analyzes the previous high and low values to determine the market trend. It identifies uptrend and downtrend conditions based on recent price action.
- **Entry Signals**:
- **Bullish Entry (Green Arrows)**: A signal is generated when the price touches or dips below the lower Bollinger Band, the RSI is under 40, and the current candle shows a downtrend (lower high and low).
- **Bearish Entry (Red Arrows)**: A signal is triggered when the price touches or rises above the upper Bollinger Band, the RSI is above 65, and the current candle shows an uptrend (higher high and low).
### Visuals:
- **Green Up Arrows**: Indicate a potential bullish entry point, plotted below the bar.
- **Red Down Arrows**: Indicate a potential bearish entry point, plotted above the bar.
- **Bollinger Bands**: The upper and lower bands are shown in red and green, with the basis (SMA) in blue.
This indicator provides a clear, rule-based system for detecting potential price reversals based on both volatility (Bollinger Bands) and momentum (RSI), making it useful for traders looking to enter positions during strong trend reversals.
by Frank R.
Abraço primo Lucas Rodrigues
Flux Advanced Options Strategy - Short TermThis Pine Script is designed for traders looking for a comprehensive technical analysis tool that integrates multiple indicators to provide actionable trading signals. The “Flux Advanced Strategy” combines RSI, KST, VWAP, and MACD to form a composite score that triggers buy and sell signals based on the confluence of these indicators.
How It Works:
• Relative Strength Index (RSI): Measures the speed and change of price movements. A value above 50 suggests bullish momentum, while below 50 indicates bearish momentum.
• Know Sure Thing (KST): A momentum oscillator that combines multiple rate-of-change (ROC) indicators to gauge the overall trend. A KST above its signal line suggests bullish conditions.
• Volume Weighted Average Price (VWAP): Provides a snapshot of average price weighted by volume. Prices above the VWAP indicate bullish sentiment, and below suggest bearish sentiment.
• Moving Average Convergence Divergence (MACD): Shows the relationship between two moving averages of a security’s price. A MACD line above its signal line is bullish, and below is bearish.
Composite Scoring System:
Each indicator contributes to a score. If the RSI is above 50, the score increases by 1. If the KST is above its signal, the score increases by another 1. Similarly, if the price is above the VWAP and the MACD line is above the signal line, they each add 1 to the score. The script uses this score to decide on trading signals:
• Buy Signal: A score of 3 or higher triggers a buy signal, suggesting a strong bullish consensus among the indicators.
• Sell Signal: A score of 1 or lower triggers a sell signal, indicating strong bearish sentiment.
Usage:
• Inputs: Traders can adjust the lengths of RSI, KST, VWAP, and MACD directly in the script settings to customize the sensitivity and period based on their trading style and the asset’s characteristics.
• Visualization: Buy signals are marked with green labels below the price bars, while sell signals are marked with red labels above the price bars. The background color also changes to green for buy zones and red for sell zones to provide visual cues for market sentiment.
• Alerts: The script can trigger alerts when a buy or sell condition is met, allowing traders to act promptly on potential trading opportunities.
Recommended For:
This script is ideal for intermediate to advanced traders who understand the nuances of the indicators involved and seek a robust analytical tool for day trading or swing trading in volatile markets. It is particularly useful for stocks, forex, or cryptocurrencies where combining these indicators can provide a powerful insight into market dynamics.
Use this script on your TradingView charts to enhance your trading strategy by making informed decisions based on a sophisticated analysis of multiple technical indicators.
Deshmukh DivergenceRSI Divergence with Moving Average Indicator
Description:
This indicator combines RSI divergence signals with a moving average (MA) on the RSI for enhanced trend analysis and signal confirmation. It identifies regular and hidden divergences between the price and RSI values, generating buy/sell signals based on these patterns. The added RSI moving average allows users to spot smoother trends and potential reversals.
How It Works:
RSI Calculation:
The Relative Strength Index (RSI) is calculated using the user-defined length.
Helps identify overbought and oversold conditions.
RSI Moving Average:
A simple moving average (SMA) is applied to the RSI to smooth its fluctuations.
Provides a clearer view of RSI trends.
Divergence Detection:
Regular Divergence:
Buy Signal: Price makes a lower low, but RSI makes a higher low.
Sell Signal: Price makes a higher high, but RSI makes a lower high.
Hidden Divergence:
Buy Signal: Price makes a higher low, but RSI makes a lower low.
Sell Signal: Price makes a lower high, but RSI makes a higher high.
Signal Visualization:
Signals are displayed as labeled shapes on the chart:
Green Up Arrow: Regular Buy.
Red Down Arrow: Regular Sell.
Blue Up Arrow: Hidden Buy.
Orange Down Arrow: Hidden Sell.
Overbought/Oversold Levels:
Horizontal lines mark overbought (70) and oversold (30) zones for quick reference.
This indicator is suitable for traders looking to identify potential trend reversals or continuations with the help of divergence patterns and RSI smoothing
FVG Breakout/BreakdownThe FVG Breakout/Breakdown indicator is designed to identify potential breakout and breakdown opportunities in the market, based on the concept of Fair Value Gaps (FVGs). FVGs are areas where price moves too quickly, leaving behind gaps between candlesticks, often seen as areas of inefficiency or imbalance that the market tends to revisit.
Key Concepts:
Fair Value Gaps (FVG):
FVG occurs when a price gap is created between candlesticks, typically when the high of one candle is lower than the low of the previous candle (for a bearish FVG) or the low of one candle is higher than the high of the previous candle (for a bullish FVG).
These gaps represent an imbalance between buying and selling pressure, and the market often revisits them, making them valuable for identifying potential entry points.
Bullish FVG: This occurs when the low of the current candle is higher than the high of the previous candle.
Condition: low > high
Bearish FVG: This occurs when the high of the current candle is lower than the low of the previous candle.
Condition: high < low
Breakout/Breakdown Signals:
Breakout: A bullish breakout signal occurs when the price breaks above a defined resistance level after an FVG gap. This suggests that the market may continue moving higher.
Breakdown: A bearish breakdown signal occurs when the price breaks below a defined support level after an FVG gap. This suggests that the market may continue moving lower.
NWOG (New Week Opening Gap):
The NWOG can be used as an additional factor to confirm the FVG signal. The gap between Friday's close and Monday's open is a crucial level for identifying the start of a new move for the week.
NWOG helps to further refine the timing of breakout or breakdown signals, only triggering them when price moves relative to the Monday Open and shows a new direction.
Option Time ValueThis TradingView script calculates and visualizes the time value of an option (Call or Put) based on its market price and intrinsic value. The time value represents the premium paid for the option above its intrinsic value, and it is a key metric for analyzing the cost of holding an option.
This script is suitable for traders analyzing options on indices or stocks, such as the NIFTY 50, and supports both Call and Put options. By dynamically extracting the strike price and option type from the input symbol, it adapts seamlessly to the selected instrument.
Key Features:
Dynamic Instrument Selection:
Users can input the underlying asset (e.g., NSE:NIFTY) and the specific option instrument (e.g., NSE:NIFTY250327C24000 for a Call or NSE:NIFTY250327P24000 for a Put).
Automatic Option Type Detection:
The script detects whether the option is a Call or a Put by parsing the input symbol for the characters "C" (Call) or "P" (Put).
Dynamic Strike Price Extraction:
The strike price is dynamically extracted from the input option symbol, eliminating the need for hardcoding and reducing user errors.
Key Metrics Plotted:
Time Value: The premium paid above the intrinsic value, plotted in blue.
Intrinsic Value: The calculated intrinsic value of the option, plotted in green.
Seamless Integration:
Designed for ease of use and integration into existing TradingView setups.
Automatically adjusts to the timeframe and pricing data of the selected instruments.
0dte Anchored Expected Move by SyntaxGeekHere is a script that's making use of TradingView's new option data feed, without the OPRA data feed I'm unsure this script will be useful as the data will be delayed and I've not tested it without the data subscription.
The script is meant to demonstrate use of options data to generate ideas in the community and perhaps be a useful tool for 0dte traders.
For securities that have 0dte I like to calculate what I call the "opening expected move", it's just like expected move (EM) but it's a snapshot of the EM value at open and remains static throughout the day.
Expected move is the value of an "at the money" (ATM) call and put combined and then added t the price of the underlying.
For example if SPY opens at 600 and the ATM call + put premium (debit) is 3 dollars, then the EM high is 603 and the EM low is 597.
These levels are often areas where the market will react as any breaches of these prices could potentially be something that market participants will have to respond to being that something has hit the market unexpectedly.
Additionally, I've added calculations for half EM plots and live premium calculations for the ATM call and put from the open.
It's a fascinating script and it's fun to watch the premiums during periods of market volatility or a chop range day.
I make no guarantees for any of the data presented and there could be bugs as options data is still quite new in TradingView and I've not spent a long time coding this or testing.
Enjoy!
Mastering ATR for Smart Stop Loss and Take Profit PlacementUsing the ATR indicator to set Stop Loss and Take Profit levels provides a dynamic and flexible way to manage risk based on the volatility of the market. This method ensures that your SL and TP are always in tune with current market conditions, preventing unnecessary stop-outs while maximizing the potential for profit. The table in the script makes it easy to view your calculated levels directly on the chart, improving your trading efficiency.
If you're looking for a more automated way to manage your trades, integrating ATR-based SL and TP can be a powerful tool in your strategy.
Happy Trading!
Hourly 20 EMA on 5m ChartThis indicator shows the hourly 20ema on any current time frame that is open on your charts
NSE BSE Option Chain with Greeks [Bluechip Algos]This indicator provides option chain information along with greeks of Delta, Vega, Theta, Gamma and Rho.
Make sure inputs are correctly entered; Symbol, reference spot price of ATM, Expiry date and Distance between strikes
Here’s a brief explanation of the logic used for calculating the Greeks in your Pine Script:
Implied Volatility (IV):
Implied Volatility is found using Black-Scholes formula by comparing the market price of the option to its theoretical price. An iterative process is used to adjust the volatility value until the theoretical price matches the market price, effectively reversing the pricing model to deduce the market’s expectation of volatility.
Delta:
Delta is calculated by estimating the probability of the option expiring in the money. This probability is derived using statistical methods based on price movement expectations. It is computed using the cumulative normal distribution function normDist
Gamma:
Gamma is calculated by evaluating how Delta changes when the underlying price moves slightly, giving a sense of the stability of Delta across different price levels. It is computed based on the derivative of Delta concerning the spot price
Theta:
Theta calculates the time decay of an option's value. It estimates how much the option's price will reduce as it gets closer to expiry, assuming all other factors remain constant. For this, the time left to expiry is broken into daily increments to assess the decay rate.
Vega:
Vega is determined by analyzing how the option's price would react to changes in market volatility. It uses the relationship between volatility and option pricing to measure this sensitivity, helping traders understand the impact of fluctuating volatility levels.
Rho:
Rho is calculated by estimating how much the option's price would change for a small increase in the risk-free interest rate. The calculation involves using Black-Scholes to assess how interest rate changes alter the discounted value of the option's payoff.
All computations depend on parameters like the spot price S, strike price X, time to expiry t, risk-free rate r, and volatility σ.
Big Money by ChartedhighsBig Money by Chartedhighs
Script Overview:
The "Big Money" indicator is designed to help traders easily identify significant price movements on their charts. This script visually highlights candles where the price change from open to close exceeds a user-defined threshold. It draws attention to these key moments, providing a clear indication of potential big-money moves in the market.
Key Features:
Customizable Threshold:
Allows users to set a specific price change threshold via the input menu (Highlight Threshold).
Only candles with a price change greater than or equal to this value are highlighted.
Candle Highlighting:
Uses color-coded bars to emphasize candles meeting the threshold condition.
Candles are highlighted in yellow for immediate visual clarity.
Dynamic Box Annotation:
Draws a semi-transparent yellow box around highlighted candles.
Extends the box dynamically to subsequent bars, providing an area of interest for continued analysis.
Labeling for Key Moments:
Automatically adds a label ("BigMoney") above highlighted bars to further indicate significant price action.
How It Works:
The script calculates the price change for each bar (close - open) and compares it to the user-defined threshold.
If the price change meets or exceeds the threshold:
The bar color changes to yellow.
A box is drawn around the candle to highlight the price movement visually.
A label is added above the candle to emphasize its significance.
The box extends dynamically until the next highlighted candle, allowing users to track zones of activity.
Customization Options:
Highlight Threshold: Modify the threshold value to suit your trading style or instrument volatility.
Use Case:
This indicator is ideal for traders looking to identify significant price movements quickly. It helps to locate areas where "big money" might be flowing into the market, offering potential entry or exit opportunities.
How to Use:
Add the "Big Money by Chartedhighs" script to your TradingView chart.
Set the Highlight Threshold to a value suitable for your market or timeframe.
Observe highlighted candles and boxes for potential trading signals or areas of interest.
This script is highly visual, intuitive, and customizable, making it a great addition to any trader's toolkit!
Options Cumulative Chart AnalysysThis Pine Script is a comprehensive tool designed for traders analyzing options data on TradingView. It aggregates multiple symbols to calculate and visualize cumulative performance, providing essential insights for decision-making.
Key Features:
Symbol and Strike Price Configuration:
Supports up to four configurable symbols (e.g., NIFTY options).
Allows defining buy/sell actions, quantities, and entry premiums for each symbol.
Customizable Chart Display:
Plot candlesticks and line charts for cumulative data.
Configurable Exponential Moving Averages (EMAs) for technical analysis.
Entry and price lines with customizable colors.
Timeframe Management:
Supports higher timeframe (HTF) candles.
Ensures compatibility with the current chart timeframe to maintain accuracy.
Dynamic Coloring and Visualization:
Red, green, and gray color schemes for body and wicks of candlesticks based on price movements.
Customizable positive and negative color schemes.
Table for Data Representation:
Displays an info table showing symbols, quantities, entry prices, and latest traded prices (LTP).
Adjustable table position, overlay, and styling.
Premium and Profit/Loss Calculations:
Calculates cumulative open, high, low, and close prices considering premiums and quantities.
Tracks the profit and loss dynamically based on cumulative premiums and market prices.
Alerts and Notifications:
Alerts triggered on specific conditions, such as when the profit/loss turns negative.
Modular Functions:
Functions for calculating high/low/open/close values, combining premiums, and drawing candlesticks.
Utilities for symbol management and security requests.
Custom Settings:
Includes a wide range of input options for customization:
Timeframes, EMA lengths, colors, table configurations, and more.
Error Handling:
Validates timeframe inputs to ensure compatibility and prevent runtime errors.
This script is designed for advanced traders looking for a customizable tool to analyze cumulative options data efficiently. By leveraging its modular design and visual elements, users can make informed trading decisions with a holistic view of market movements.
Weekly Bullish Pattern DetectorThis script is a TradingView Pine Script designed to detect a specific bullish candlestick pattern on the weekly chart. Below is a detailed breakdown of its components:
1. Purpose
The script identifies a four-candle bullish pattern where:
The first candle is a long green (bullish) candlestick.
The second and third candles are small-bodied candles, signifying consolidation or indecision.
The fourth candle is another long green (bullish) candlestick.
When this pattern is detected, the script:
Marks the chart with a visual label.
Optionally triggers an alert to notify the trader.
2. Key Features
Overlay on Chart:
indicator("Weekly Bullish Pattern Detector", overlay=true) ensures the indicator draws directly on the price chart.
Customizable Inputs:
length (Body Size Threshold):
Defines the minimum percentage of the total range that qualifies as a "long" candle body (default: 14%).
smallCandleThreshold (Small Candle Body Threshold):
Defines the maximum percentage of the total range that qualifies as a "small" candle body (default: 10%).
Candlestick Property Calculations:
bodySize: Measures the absolute size of the candle body (close - open).
totalRange: Measures the total high-to-low range of the candle.
bodyPercentage: Calculates the proportion of the body size relative to the total range ((bodySize / totalRange) * 100).
isGreen and isRed: Identify bullish (green) or bearish (red) candles based on their open and close prices.
Pattern Conditions:
longGreenCandle:
Checks if the candle is bullish (isGreen) and its body percentage exceeds the defined length threshold.
smallCandle:
Identifies small-bodied candles where the body percentage is below the smallCandleThreshold.
consolidation:
Confirms the second and third candles are both small-bodied (smallCandle and smallCandle ).
Bullish Pattern Detection:
bullishPattern:
Detects the full four-candle sequence:
The first candle (longGreenCandle ) is a long green candle.
The second and third candles (consolidation) are small-bodied.
The fourth candle (longGreenCandle) is another long green candle.
Visualization:
plotshape(bullishPattern):
Draws a green label ("Pattern") below the price chart whenever the pattern is detected.
Alert Notification:
alertcondition(bullishPattern):
Sends an alert with the message "Bullish Pattern Detected on Weekly Chart" whenever the pattern is found.
3. How It Works
Evaluates Candle Properties:
For each weekly candle, the script calculates its size, range, and body percentage.
Identifies Each Component of the Pattern:
Checks for a long green candle (first and fourth).
Verifies the presence of two small-bodied candles (second and third).
Detects and Marks the Pattern:
Confirms the sequence and marks the chart with a label if the pattern is complete.
Sends Alerts:
Notifies the trader when the pattern is detected.
4. Use Cases
This script is ideal for:
Swing Traders:
Spotting weekly patterns that indicate potential bullish continuations.
Breakout Traders:
Identifying consolidation zones followed by upward momentum.
Pattern Recognition:
Automatically detecting a commonly used bullish formation.
5. Key Considerations
Timeframe: Works best on weekly charts.
Customization: The thresholds for "long" and "small" candles can be adjusted to suit different markets or volatility levels.
Limitations:
It doesn't confirm the pattern's success; further analysis (e.g., volume, support/resistance levels) may be required for validation
IV Rank/Percentile with Williams VIX FixDisplay IV Rank / IV Percentile
This indicator is based on William's VixFix, which replicates the VIX—a measure of the implied volatility of the S&P 500 Index (SPX). The key advantage of the VixFix is that it can be applied to any security, not just the SPX.
IV Rank is calculated by identifying the highest and lowest implied volatility (IV) values over a selected number of past periods. It then determines where the current IV lies as a percentage between these two extremes. For example, if over the past five periods the highest IV was 30%, the lowest was 10%, and the current IV is 20%, the IV Rank would be 50%, since 20% is halfway between 10% and 30%.
IV Percentile, on the other hand, considers all past IV values—not just the highest and lowest—and calculates the percentage of these values that are below the current IV. For instance, if the past five IV values were 30%, 10%, 11%, 15%, and 17%, and the current IV is 20%, the IV Rank remains at 50%. However, the IV Percentile is 80% because 4 out of the 5 past values (80%) are below the current IV of 20%.
RR SummaThis is my favourite Indicator
Support and resistance are fundamental concepts in technical analysis used by traders to predict potential price movements in financial markets such as stocks, forex, and cryptocurrencies.
### 1. **Support**
Support refers to a price level at which an asset tends to find buying interest, preventing the price from falling further. It acts as a "floor" where demand is strong enough to halt the downward movement and potentially reverse it. When the price approaches support, buyers may step in, believing the asset is undervalued.
- **Characteristics of Support:**
- **Previous lows:** Historical price points where the price has repeatedly bounced upward.
- **Increased buying pressure:** When prices approach the support level, traders tend to buy, believing it's a good entry point.
- **Psychological factor:** Traders view support levels as a point where the price is unlikely to fall below for a while.
- **Example:** A stock may be trading at $50, and whenever it drops near that price, buyers step in and push it back up. In this case, $50 is the support level.
### 2. **Resistance**
Resistance is the opposite of support. It is a price level at which an asset faces selling pressure, preventing the price from rising further. It acts as a "ceiling," where supply exceeds demand, often leading to a reversal or consolidation.
- **Characteristics of Resistance:**
- **Previous highs:** Historical price points where the price has struggled to break through or where it has reversed downward.
- **Increased selling pressure:** Sellers are more likely to take profits or short the asset near resistance levels.
- **Psychological factor:** Traders may perceive resistance levels as a point where the asset is overvalued or where the trend will reverse.
- **Example:** A stock may approach a price of $100, but every time it gets close, sellers appear and push the price back down. In this case, $100 is the resistance level.
### **Key Points about Support and Resistance**
- **Breakout and Breakdown:** If a price moves beyond a support or resistance level, it is considered a breakout (above resistance) or breakdown (below support). This may signal a new trend in the market.
- **Role Reversal:** Once a resistance level is broken, it can turn into a support level, and vice versa. Traders often look for such shifts in market behavior.
- **Trend Continuation or Reversal:** Support and resistance can indicate whether the market is in a trend or preparing for a reversal. A test of support or resistance can lead to a continuation if the level holds, or a reversal if the level is breached.
### **Identifying Support and Resistance**
- **Historical Price Action:** Look for points where the price has reversed or consolidated multiple times.
- **Trendlines:** Draw trendlines that connect swing highs (resistance) and swing lows (support) to identify these levels.
- **Moving Averages:** Key moving averages (e.g., 50-day, 200-day) can act as dynamic support and resistance levels.
### **Why Support and Resistance Matter**
- **Risk Management:** Traders use these levels to place stop-loss orders to manage risk.
- **Entry and Exit Points:** These levels can help traders decide when to enter or exit trades, aiming to buy near support and sell near resistance.
- **Market Sentiment:** Support and resistance levels reflect the collective psychology of market participants, indicating areas where sentiment may shift.
In summary, support and resistance are essential tools for traders to identify potential price points where assets may reverse or consolidate. Understanding these levels allows traders to make more informed decisions about when to buy, sell, or stay on the sidelines.
ZACH_Trendlines_OBThe Pine Script you've shared appears to be a comprehensive indicator that combines various strategies and tools for technical analysis in TradingView. It includes functionalities such as:
Trendlines (Support/Resistance):
The script calculates pivot points and draws trendlines connecting them.
Implements both bullish and bearish trendlines with customizable styles, colors, and extensions.
Magic Trend (ATR-based):
Plots a trendline derived from ATR (Average True Range) and CCI (Commodity Channel Index) to identify trend directions.
Order Blocks (OB):
Identifies bullish and bearish order blocks based on price momentum and sensitivity settings.
Order blocks are drawn as rectangles and extended in the chart with configurable border and background colors.
Uses ROC (Rate of Change) to identify key price levels where order blocks might form.
Alerts:
Includes alert conditions for breakouts and interactions with order blocks.
Customizable Inputs:
Allows users to modify key parameters such as ATR period, CCI period, pivot length, and sensitivity for order blocks.
Key Features Summary:
Trendlines:
Bullish/Bearish trendlines with detection for breakout points.
Option to enable/disable upper/lower lines and extend them.
Magic Trend:
Visualizes directional trends using ATR and CCI.
Order Blocks:
Detection and plotting of order blocks based on momentum.
Configurable OB mitigation type (Close or Wick).
Alerts:
Triggers alerts for specific events (e.g., order block breaches).
Suggestions for Further Refinements:
Performance Optimization:
The nested loops, especially in order block creation, might impact performance on larger datasets or lower timeframes. Consider optimizing these for better responsiveness.
Commenting and Documentation:
Add comments to describe the purpose and logic behind each section to make the script more maintainable.
Validation:
Check for edge cases (e.g., when there are insufficient data points for pivot calculation).
If you'd like assistance debugging specific parts of this script or optimizing any component, feel free to point it out!
Z TRAP_Range Indicator Name: Z TRAP_Range
Primary Function:
This indicator is designed to identify and highlight price ranges on a TradingView chart. It detects periods of consolidation (when price remains within a defined range) and marks these areas using dynamic boxes. It also visualizes range breakouts and provides additional extension levels for potential price targets.
Features Overview:
Dynamic Range Detection:
Identifies price ranges based on a moving average (ma) and ATR (atr) calculations.
Considers a customizable minimum range length (length) to detect valid consolidation zones.
Highlights the range's top and bottom boundaries with colored boxes.
Breakout Visualization:
Green Box (upCss): Indicates upward breakout from the detected range.
Red Box (dnCss): Indicates downward breakout from the detected range.
Blue Box (unbrokenCss): Indicates that price remains within the range (consolidation).
Extension Levels:
Projects two upward and two downward extension levels based on the height of the detected range.
Helps identify potential price targets after a breakout.
Customizable Style Settings:
Change colors for breakout upward, breakout downward, and unbroken ranges.
Adjust ATR multiplier (mult) and range detection sensitivity.
Annotations:
Displays labels showing key price levels, including range top, bottom, and extension levels.
Provides details like the difference between the close price and the range level for better context.
Historical Context:
Maintains a visual record of previous ranges and breakouts on the chart.
Can handle overlapping ranges and dynamically adjust boundaries.
How the Indicator Works:
Range Detection:
When the price remains close to the moving average for the defined length of bars, a new range is detected. The range top and bottom are calculated using the ATR-based width (ma ± atr).
Breakout Detection:
If the price moves above the range top, an upward breakout is marked.
If the price moves below the range bottom, a downward breakout is marked.
If the price stays within the range, the box color remains blue.
Dynamic Updates:
Existing ranges are adjusted dynamically for overlaps, and new ranges are created when necessary.
Visual Elements:
Boxes:
Highlight price ranges with colors indicating breakout or consolidation.
Box colors dynamically change based on price action.
Lines:
Draw horizontal levels for the range’s top and bottom.
Extension lines project potential targets based on range height.
Labels:
Display price levels and their differences from the close price.
Show the height of each extension level for additional insights.
Customization Options:
Minimum Range Length: Adjust the sensitivity of range detection.
Range Width: Change the ATR multiplier for wider or narrower ranges.
ATR Length: Modify the ATR period for fine-tuning volatility sensitivity.
Color Settings: Customize box colors for upward, downward, and unbroken ranges.
Use Cases:
Consolidation Zones:
Identify accumulation or distribution phases where price is consolidating.
Breakout Trading:
Detect potential breakout opportunities and visualize target levels using range extensions.
Support and Resistance:
Use historical ranges as support/resistance zones for future price action.
How to Use:
Copy and paste the script into TradingView (create a new Pine Script v5 indicator).
Add the indicator to your chart and observe the visualized ranges and breakouts.
Adjust the input parameters to align with your trading style or instrument volatility.
Use the extension levels to plan entry, exit, or stop-loss placement for breakout trades.
This indicator is highly versatile and suits traders looking for structured price action analysis. It provides a clear and visually appealing way to track consolidation zones and breakout potential.
