Double RSI OscillatorThe Double RSI Oscillator
Hello Gs,
I came back from the dead and tried to see what a little tweak to RSI could do, and I think it is quite interesting and might be worth checking out.
Warning:
This indicator has lots of false signals unfortunatly
How does the DRSI Oscillator work?
Very simple, the DRSI oscillator at the very base is just 2 RSIs that should smooth each other out, making a smoother trend signal generation for trend analysis. One RSI is set to have lower values, by considering the lowest point of the price, and one RSI is set to have higher values using pretty much the same thing. The trend changes from positive to negative if RSI with higher values crosses negative treshhold, and from negative to positive if RSI with lower value crosses positive treshhold. On top of this I added some additional settings to smooth or speed it further, if these were a good idea, I guess only time will tell :D.
Settings
Here is a guide of what setting changes what and how it might be suitable for you:
RSI Optimism length: length of the RSI with higher values (higher values will be better for longer term, lower for medium term)
RSI Pesimism length: length of the RSI with lower values (higher values will be better for longer term, lower for medium term)
Positive treshhold: The value RSI pesimism needs to pass in order to change trends (in case of using RSI avg. the value the average needs to pass), making this higher can give you faster signals, but expect more false ones
Negative treshholds: The value RSI optimism needs to pass in order to change trends (in case of using RSI avg. the value the average needs to pass), lowering this can give you faster signals, but expect more false ones
Smoothing type: Select the type of smoothing (or none) to smooth your signals as you want, this one you need to play around with.
Smoothing length: The length of your smoothing method (if none is selected it wont change anything)
Use RSI average instead: self-explanatory, go figure
Above/Below Mean Trend: Changes the way trend logic works
Why consider using this indicator?
The DRSI Oscillator is a tool that has huge flexibility (due to tons of settings that base RSI doesnt, like trend treshholds), and is smoother allowing traders and investors to get high quality or high speed signals, allowing great entries and exits
Options
Iron Condor Sideways Market Detector📘 Description: Iron Condor Sideways Market Detector
This indicator helps option traders find sideways markets for Iron Condor strategy.
🔍 What it does:
📏 Detects when the market is moving in a small range.
✅ Gives a signal when the price is not trending and staying flat.
📉 Shows a label below the candle when conditions are right for an Iron Condor setup.
📊 How it works:
RSI between 40 and 60
→ Market is not overbought or oversold.
ADX below 25
→ Market has low trend strength.
Bollinger Band width is small
→ Price volatility is low.
Price range is within a fixed %
→ Market is moving inside a tight range.
🔔 Alerts:
You get an alert when all sideways conditions are true.
Great for planning neutral option strategies like Iron Condor.
---------------------------------------------------------------------------
⚠️ Risk Disclaimer
📈 Trading involves risk. Always trade with proper knowledge and money management.
💸 You can lose part or all of your capital. Only invest what you can afford to lose.
🧠 This indicator is a tool, not a guarantee of profit.
🕵️♂️ Always verify signals with your own analysis before taking any position.
🛠️ Past performance of any strategy or tool does not guarantee future results.
📊 Options strategies like Iron Condor require understanding of option greeks, volatility, and risk/reward balance.
Option Contract Size CalculatorOption Contract Size Calculator
This indicator helps you to figure out the ideal number of contracts for your trade and its only used for options day trading.
The indicator needs to fill the input section in order to give you the information table that includes Contract size .
The input section consists of two sections. The first section requires user entry of the delta of the options contract from the broker chain and the stop loss size on the chart.
The second section allows you to enter your account balance and risk per trade
(2% recommended) .
There is also the option for where you wish to display your table like bottom right , bottom left or top right, top left.
special thanks to @Mohamedawke for the open source script this code is based off
hasan s an oscillator based on the QQE (Quantitative Qualitative Estimation) method. This version incorporates refinements for additional visualization and interpretation options. It is designed to help traders observe momentum changes and divergence patterns in price movements.
Options And Index Volume Compare This indicator will help you with the Volume activity in Index and its underlying options.
It will help you in deciding whether to enter into trade or not based on the Buyers and Sellers activity both in Index and Option. Along with there is POC which will help you to confirm the trade. It works in all the scrips for which the volume is provided on trading view.
Majorly this work is done for Indian markets.
Best uses on Nifty, Bank Nifty, BTCUSD, Any stocks.
Key Features:
1. Volume based Support and Resistance:
- Dynamically calculate the Volume based Support and Resistance for the chart timeframe.
- Heps to analyze the trend on higher timeframes and supporting Volume on lower time frames to initiate the trade
- Volume box with M shows the seller volume and P shows the buyer volume.
- The darker shade of volume box indicates the higher volume than nearest pivots.
2. No Trade Zone Protection:
- Avoids low-volume zones where price is indecisive.
- Ensures only high-momentum trades are executed to improve success rate.
3. POC (Point of Control Based Confirmation:
- Long trades are confirmed when Price is above POC.
- Short trades are confirmed when Price is below POC.
Strategy Logic:
- The script checks for the major volume pivot points and decided whether its buying volume or selling volume and plots the boxes with appropriate colors.
- An additional POC which is dynamically calculated confirms the volume trend.
filter is used to ensure trades are taken at ideal market conditions.
---
Disclaimer:
Risk Warning:
This strategy is provided for educational and informational purposes only. Trading involves significant risk, and past performance is not indicative of future results. Users are advised to conduct their own due diligence and risk management before using this strategy in live trading.
The developer and publisher of this script are not responsible for any financial losses incurred by the use of this strategy. Market conditions, slippage, and execution quality can affect real-world trading outcomes.
Use this script at your own discretion and always trade responsibly.
Realtime Index (Indian) Options DashboardThis indicator will help users to plot the options dashboard and its chart for selected index in main pane. The option strike and expiry will get selected automatically based on underlying Index. The option strike will be calculated based on the index opening price for current day.
The option chart will show the Volume activity-based support and resistance on the option price which will help the trader to make decision.
The Dashboard shows the different straddles live prices and its high low.
It will work on major Indian Indices like NSE: NIFTY, NSE: BANKNIFTY, NSE: CNXFINANCE, NSE: NIFTY_MID_SELECT, BSE: SENSEX, BSE: BANK
Key Features:
1. Volume based Support and Resistance on option chart:
- Automatic Expiry Day calculation and strike selection.
- Dynamically calculate the Volume based Support and Resistance for the chart timeframe.
- Helps to analyze the trend and supporting Volume to initiate the trade
- Volume box with M shows the seller volume and P shows the buyer volume.
- The darker shade of volume box indicates the higher volume than nearest pivots.
2. No Trade Zone Protection:
- Avoids low-volume zones where price is indecisive.
- Ensures only high-momentum trades are executed to improve success rate.
3. Options Dashboard:
- Automatic Expiry day calculation and ATM strike selection.
- Live prices of Call and Put options for three pairs.
- Live prices of straddle for three pairs.
- Live prices of straddle high and low with color indicator for three pairs.
- Manual ATM strike selection.
4. Complete visibility of Index movement and option behavior.
- Single pane index and option chart for visual analysis.
5. Provision to select different option chart other than underlying Index.
Strategy Logic:
- The script checks for the underlying Index and calculate the current expiry day for options and selects the ATM price based on current day Index open price.
- Based on user choice, Call or Put option chart will be plotted for automatically selected ATM strike.
- Users can Plot the chart of option other than the underlying Index with the chosen Index and strike.
- The Volume based support, and resistance is calculated with lower time frame of 1 min.
Limitations:
- Due to the different open price of index on daily basis the script cannot be used on higher time frames.
- Due to unavailability of historical option prices, the calculations are limited to last 100 bars available.
---
Disclaimer:
Risk Warning:
This strategy is provided for educational and informational purposes only. Trading involves significant risk, and past performance is not indicative of future results. Users are advised to conduct their own due diligence and risk management before using this strategy in live trading.
The developer and publisher of this script are not responsible for any financial losses incurred by the use of this strategy. Market conditions, slippage, and execution quality can affect real-world trading outcomes.
Use this script at your own discretion and always trade responsibly.
RSI Reversal with EMA Filter Strategy## 3. RSI Reversal with EMA Filter Strategy
This strategy combines the power of RSI for identifying oversold/overbought conditions with EMA crossovers for trend confirmation.
### Strategy Overview:
The RSI (Relative Strength Index) with a short lookback period quickly identifies potential reversal points, while EMAs confirm the trend direction.
### Rules:
1. **Indicator Settings:**
- RSI Period: 2-6 (shorter period works best for intraday)
- EMA Fast: 9
- EMA Slow: 21
2. **Entry Criteria:**
- Buy when RSI < 15 and EMA 9 crosses above EMA 21
- Sell when RSI > 85 and EMA 9 crosses below EMA 21
3. **Exit Rules:**
- Target: 100 points
- Stop Loss: 20 points
### Performance Metrics:
- **Win Rate:** Up to 70% with proper risk management
- **Reward-to-Risk Ratio:** 5:1
- **Historical Performance:** RSI with shorter periods (2-6) has shown superior results for intraday trading
According to backtesting, RSI with shorter lookback periods (2-6 days) has consistently outperformed strategies using the traditional 14-period RSI setting.
Options Chart Lite [Pt]█ Options Chart Lite
────────────────────────────
█ Introduction
Options Chart Lite is a simplified version of the full Options Chart+ tool — created for traders who want a clean and easy way to visualize option volume around price without extra complexity.
It displays live call and put volume and pricing directly on your TradingView chart, centered around the most relevant strikes for the selected expiry.
────────────────────────────
█ What Is Options Chart Lite ?
Options Chart Lite is a free tool that shows real-time call and put activity in a clean, strike-by-strike table.
It provides:
- Side-by-side call/put volume and pricing
- Live table centered on current price
- Total call and put volume summary
- Quick insight into flow without overlays or clutter
────────────────────────────
█ Key Features
Visual Option Table
- Volume and price for calls and puts
- Table auto-centers around current price
- Up to 20 strikes shown
Total Volume Summary
- Call vs put volume shown at the bottom
Formatted Expiry + Timeframe
- Full expiry display (e.g. “Fri Apr 11, 2025”)
- Fixed to 1D timeframe
Reset & Warnings
- Button to reset strike range
- Optional delayed data notice
────────────────────────────
█ Inputs
Option Expiry Date (YYMMDD): Must match a valid expiry
Strike Increment: Strike spacing (e.g., 1, 2.5, 5)
Reference Strike Denominator: Rounds price to valid strike
Font Size Option: Choose Auto, Tiny, Small, or Normal
Reset Button: Re-centers if price moves
Delayed Data Warning: Toggle display of warning
────────────────────────────
█ Use Cases
Spot Key Strikes
See which strikes have the most activity.
Quick Flow Insights
Volume bias without opening an option chain.
Prep Levels
Align price action with strike flow.
Volume Skew Snapshot
Check if calls or puts dominate.
────────────────────────────
█ Known Limitations
- Invalid Expiry or Strike Inputs Will Error
Inputs must match real listed options for the symbol.
- Options Data Must Be Available
Volume will appear as 0 if TradingView data isn’t accessible.
- Strike Range is Limited
Script renders ~20 strikes. Use Reset Indicator if price moves too far.
Jeanius Productions - XXX V16(Launch Edition))Jeanius Productions - XXX V16 (Launch Edition)
Overview
XXX V16 is a high-performance scalping strategy designed to maximize precision and efficiency. It utilizes EMA crossovers, trend validation, and adaptive risk management to capitalize on momentum.
Key Features
🔥 Smart Entry System – EMA crossovers confirm directional shifts.
🚀 Optimized Take Profit – TP1 (30 pips) and TP2 (60 pips), with time-based filtering.
✔ Automatic Trade Reversals – Opposite trades close before new positions open.
📈 Multi-Timeframe Validation – Trades only when aligned with market trends.
Why Use XXX V16?
✔ Refined for Scalping & Short-Term Trading
✔ Integrated MT5 Signal Execution
✔ Risk-Controlled, Time-Based Optimization
Trade with confidence. Turn momentum into profits. 🚀🔥
Let me know if you’d like any final tweaks
Options Chart+ [Pt]█ Introduction
Since the launch of options data support on TradingView, the landscape for retail options traders has started to shift. But until now, no tool in the public TradingView library has offered a full-featured, visual-first interface for reading option strike activity directly from your chart.
www.tradingview.com
Options Chart+ changes that — bringing an institutional-style strike analysis interface to TradingView.
It reads the option chain for any symbol and expiry, dynamically builds a strike-by-strike volume and price table, highlights top areas of market activity, and helps you interpret directional sentiment through both total and skew-adjusted implied moves.
────────────────────────────
█ What Is Options Chart+ ?
Options Chart+ is a premium script for analyzing call and put option volumes and pricing for any option chain that's readily available on TradingView.
It provides a real-time, on-chart display of:
- Strike-Level Volume and Price Table
- Gradient Heatmaps for Volume Activity
- Overlayed Top Strikes on the Chart
- Implied Move and Directional Bias Metrics
By visualizing where options traders are concentrating their positioning, this tool helps uncover potential support/resistance zones, directional bets, and key gamma levels — all from the flow.
────────────────────────────
█ Key Features
Visual Option Chain Table
- Centers around the current price
- Real-time volume and price per strike
- Clean formatting with total summaries
Gradient Volume Coloring
- Highlights activity using customizable color gradients
- Makes volume spikes obvious at a glance
Top Strike Overlays
- Automatically highlights top volume call/put strikes
- Overlays labeled lines on the chart for price context
Implied Move and Directional Bias
- ATM straddle = Total Implied Move
- Volume-weighted extrinsics = Directional Implied Move (DIM)
- Shows skew-based bias: bullish or bearish
────────────────────────────
█ Inputs & Customization
Option Expiry Date (YYMMDD): Must match valid options for the symbol
Strike Increment: Matches strike spacing (e.g., 1, 2.5, 5)
Reference Strike Denominator: Rounds the center strike
Volume Timeframe: Any valid chart timeframe
Gradient Volume Coloring: Toggle on/off
Call/Put Volume Colors: Fully customizable
Draw Top Strike Lines: Enables chart overlays
Start / End Offset: Customize overlay length
Font Size: Auto, Tiny, Small, or Normal
Delayed Data Warning: Adds footnote in the table
Reset Button: Re-centers the tool if price moves too far
────────────────────────────
█ Use Cases
1. Spotting High-Interest Strikes
Use gradient heatmaps and overlays to see where volume is clustering.
Example: Heavy calls at 4200 may act as a magnet or gamma level — perfect for breakout or fade setups.
2. Interpreting Sentiment with DIM
Gauge where the flow is leaning directionally.
Example: Bullish DIM = call extrinsics outweigh puts → sentiment skewed bullish.
3. Sizing Risk Around Implied Movement
Use Total Implied Move to set range boundaries.
Example: Avoid selling premium inside the expected move unless risk is tight.
4. Combining Volume and Price Action
Overlay strikes with price structure for confluence trades.
Example: A heavy put strike with price holding = potential bounce zone.
5. Structuring Straddles or Strangles
Use volume skew to inform multi-leg positions.
Example: If call side is bid up, lean strangle wider to the upside.
────────────────────────────
█ Known Limitations
- Invalid Expiry or Strike Inputs Will Error
You are responsible for selecting a valid expiry and strike increment that matches the symbol’s listed options.
- Options Data Must Be Available
This tool depends on TradingView's options feed. If you do not have access (delayed or real-time), the script will fail to load.
- Strike Range is Limited
Renders ~20 strikes max to preserve clarity. If price moves beyond that, use the Reset Indicator input.
────────────────────────────
█ Final Thoughts
Options Chart+ is built for traders who operate on flow, structure, and sentiment. It lets you trade with confidence by showing where the real positioning is happening — visually, clearly, and in real-time.
If you:
- Think in terms of option flow
- Trade around volume levels or gamma exposure
- Want faster access to skew and sentiment
- Or just need clarity over chaos in an options chain...
This tool is for you.
Resumen de Tendencia.v01📊 Trend Summary with SMA 200 📊
This Pine Script displays a summary table showing the price trend across multiple timeframes (Weekly, Daily, 4H, 1H, 15M, and 5M) based on the 200-period Simple Moving Average (SMA).
✅ Easy to interpret:
Bullish (✅ Green) → Price above SMA 200
Bearish (❌ Red) → Price below SMA 200
⚡ Features:
🔹 Evaluates trends across different timeframes.
🔹 Displays a compact summary table in the top-right corner.
🔹 Keeps the chart clean without extra lines.
Perfect for traders who need a quick multi-timeframe trend analysis! 🚀📈
Autor: Luis Alberto Flores
#Trading #PineScript #SMA200 #TechnicalAnalysis #Trend
Resumen de Tendencia.v01📊 Trend Summary with SMA 200 📊
This Pine Script displays a summary table showing the price trend across multiple timeframes (Weekly, Daily, 4H, 1H, 15M, and 5M) based on the 200-period Simple Moving Average (SMA).
✅ Easy to interpret:
Bullish (✅ Green) → Price above SMA 200
Bearish (❌ Red) → Price below SMA 200
⚡ Features:
🔹 Evaluates trends across different timeframes.
🔹 Displays a compact summary table in the top-right corner.
🔹 Keeps the chart clean without extra lines.
Perfect for traders who need a quick multi-timeframe trend analysis! 🚀📈
Autor: Luis Alberto Flores
#Trading #PineScript #SMA200 #AnálisisTécnico #Tendencia
Market Sessions & LevelsOverview
This Pine Script indicator identifies key trading levels and market sessions, making it easier for traders to analyze price movements. It highlights the previous day's high and low, tracks premarket price action, and marks the first 5-minute high and low after the market opens.
Features
✅ Identifies Market Sessions:
Pre-Market Session (4:30 AM - 9:30 AM EST)
Regular Market Session (9:30 AM - 4:00 PM EST)
✅ Tracks Key Levels:
Previous Day’s High & Low
Premarket High & Low
First 5-Minute High & Low after market open
✅ Visual Cues for Easy Analysis:
Plots horizontal lines for each level with distinct colors
Displays labels for key price levels on the chart
How It Helps Traders
📊 Pre-Market Preparation: Helps traders spot key resistance/support levels before the market opens.
🚀 Momentum Trading: The first 5-minute high/low can act as breakout or reversal zones.
📉 Historical Price Context: Uses the previous day's high/low to gauge market sentiment.
Customization
The script can be easily modified to adjust session timings, colors, or additional levels based on your trading strategy.
💡 How to Use:
Apply the script to a 1-minute or 5-minute chart for the most accurate premarket and first 5-minute tracking.
Look for price reactions at the plotted levels to determine potential trade setups.
Weekday Labels with Infinite Vertical LinesThis indicator is 2 part of "Daily Separator with Day". Add this indicator for open all adventage this 2 indicator
Daily Separator with Daythis indicator about vertical lines at weekly days. Add at chart a 2 part of this indicator - Weekdays Labels to have all advantages this indicator
ATM Option Selling StrategyATM Option Selling Strategy – Explained
This strategy is designed for intraday option selling based on the 9/15 EMA crossover, 50/80 MA trend filter, and RSI 50 level. It ensures that all trades are exited before market close (3:24 PM IST).
. Indicators Used:
9 EMA & 15 EMA → For short-term trend identification.
50 MA & 80 MA → To determine the overall trend.
RSI (14) → To confirm momentum (above or below 50 level).
2. Entry Conditions:
🔴 Sell ATM Call (CE) when:
Price is below 50 & 80 MA (Bearish trend).
9 EMA crosses below 15 EMA (Short-term trend turns bearish).
RSI is below 50 (Momentum confirms weakness).
🟢 Sell ATM Put (PE) when:
Price is above 50 & 80 MA (Bullish trend).
9 EMA crosses above 15 EMA (Short-term trend turns bullish).
RSI is above 50 (Momentum confirms strength).
3. Position Sizing & Risk Management:
Sell 375 quantity per trade (Lot size).
50-Point Stop Loss → If option premium moves against us by 50 points, exit.
50-Point Take Profit → If option premium moves in our favor by 50 points, book profit.
Exit all trades at 3:24 PM IST → No overnight positions.
4. Exit Conditions:
✅ Stop Loss or Take Profit Hits → Automatically exits based on a 50-point move.
✅ Time-Based Exit at 3:24 PM → Ensures no open positions at market close.
Why This Works?
✔ Trend Confirmation → 50/80 MA ensures we only sell options in the direction of the market trend.
✔ Momentum Confirmation → RSI prevents entering weak trades.
✔ Controlled Risk → SL and TP protect against large losses.
✔ No Overnight Risk → All trades close before market close.
Ryna 3 EMA Multi-Timeframe Indicator**EMA Multi-Timeframe Strategy (Pine Script v6)**
This TradingView indicator is designed to assist traders using a **multi-timeframe trend-following strategy** based on Exponential Moving Averages (EMAs).
**Core Functionality**
- **Trend Identification:**
Uses a configurable **EMA (e.g., EMA 50)** on a **higher timeframe** (e.g., H1, D1, W1) to determine the market bias:
- If price is **above** the trend EMA → **Long bias**
- If price is **below** the trend EMA → **Short bias**
- **Entry Signals:**
Uses two EMAs (fast & slow, e.g., EMA 8 & EMA 21) on either:
- The **current chart timeframe**, or
- A **separately selected timeframe** (e.g., entry on M15, trend on H1)
→ Signals are generated based on **EMA crossovers**:
- **Bullish crossover** (fast crosses above slow) → Long signal
- **Bearish crossover** (fast crosses below slow) → Short signal
- Only when aligned with the higher-timeframe trend
- **Visual Output:**
- Optional display of entry EMAs when sourced from the trend timeframe
- Always displays the trend EMA
- Entry signals shown with triangle markers on the chart
- **Info Panel (Top Center):**
- Shows selected timeframes and EMA settings
- Indicates current trend bias (LONG / SHORT / NEUTRAL)
- Notes if entry EMAs are hidden due to settings
- **Alerts:**
- Optional alerts for long and short entry signals based on EMA crossovers
#### **User Inputs**
- **Trend Timeframe & EMA Length**
- **Entry Timeframe & EMA Fast/Slow Lengths**
- **Option to show/hide entry EMAs when using the trend timeframe**
- **Option to show/hide Infobox on Chart**
Session Range (Pips/Points) Marcos Trader## English Description
Title: Session Range Indicator (Pips/Points)
Summary:
This indicator calculates and displays the price range (high - low) for the Asian, London, and New York trading sessions directly on your chart. It helps you quickly visualize the volatility of each recent session, showing the result in whole Pips for Forex or in Points for other instruments.
Key Features:
Calculates the High-Low range for the Asia, London, & NY sessions.
Displays the range in whole Pips for Forex (automatically detects JPY pairs for correct calculation).
Displays the range in Points (based on syminfo.mintick) for Indices, Crypto, Commodities, Stocks, etc.
100% Configurable Session Times: Define the exact start time, end time, and most importantly, the Time Zone for each session (Asia, London, NY) in the indicator settings. This ensures accuracy regardless of Daylight Saving Time or your chart's timezone!
Shows clear labels with the range near the end of each calculated session.
Options to individually show or hide the labels for each session.
Allows configuration of label transparency.
Allows defining how many past session labels to display on the chart (default is 5).
Developed in Pine Script v6.
How to Use:
Add the indicator to your chart.
Open the indicator Settings (gear icon).
Go to the "Session Times" section.
For each session (Asia, London, NY), enter the schedule in HHMM-HHMM format and ensure you add the correct Time Zone using a colon followed by the standard name (e.g., :Europe/London, :America/New_York, :Asia/Tokyo, :UTC+2, :UTC-5). This step is crucial.
Adjust the display options under "Show Sessions" and "Appearance" according to your preferences.
Click "OK".
Notes:
The accuracy of the indicator critically depends on the correct configuration of the times and time zones in the settings. The range label appears near the last bar belonging to the defined session.
Malama's market chop"Malama's Market Chop" (MMC) is a TradingView indicator designed to help traders identify choppy, sideways market conditions where price movement lacks a clear trend. It solves a common problem for traders: avoiding false signals or unprofitable trades during periods of indecision in the market. By measuring market "choppiness" and visually highlighting these zones, MMC empowers users to either steer clear of trades or adjust their strategies (e.g., switching to range-bound tactics) when trends are weak.
How It Works
MMC is built around the Choppiness Index, a mathematical formula that quantifies how much a market is consolidating versus trending. Here’s the simple breakdown:
It looks at the price range (highs and lows) over a user-defined period (default: 14 bars).
It compares the sum of individual bar ranges to the total range across that period, then applies a logarithmic calculation to produce a value between 0 and 100.
A higher value (e.g., above 61.8 by default) indicates a choppy, non-trending market, while a lower value suggests a trending market.
The indicator then uses this data to:
Color the chart background yellow during choppy conditions.
Place a small blue triangle below bars when choppiness is detected.
Show the exact Choppiness Index value as a label on the latest bar for real-time monitoring.
How to Use It
Adding to TradingView: Open TradingView, click the "Indicators" button at the top, search for "Malama's Market Chop" (or paste the script into a new Pine Script editor and save it), and add it to your chart.
Configuring Settings:
Choppiness Period (default: 14): Adjust this to change how many bars the indicator analyzes. Shorter periods (e.g., 10) react faster but may be noisier; longer periods (e.g., 20) smooth the signal.
Choppiness Threshold (default: 61.8): This is the cutoff for what’s considered "choppy." Raise it (e.g., 70) for stricter chop detection or lower it (e.g., 50) to catch milder consolidation.
Interpreting Signals:
Yellow Background: The market is choppy—price is likely bouncing around without direction. Beginners might sit out or use range-trading strategies (e.g., buy low, sell high within the range).
Blue Triangle: A quick visual cue that choppiness is active on that bar.
ChopIndex Label: Check the number. Above the threshold (e.g., 61.8) means choppy; below suggests a trend might be forming.
Tips:
Beginners: Pair MMC with a simple trend indicator (like a moving average) to confirm when to avoid trades during yellow zones.
Pros: Experiment with the threshold on different timeframes (e.g., 5-minute vs. daily) or assets (stocks, forex, crypto) to fine-tune for your trading style.
Originality
What makes MMC stand out is its blend of clarity and practicality. While the Choppiness Index isn’t new, MMC enhances it with:
Visual Simplicity: The yellow background and blue triangles make choppy conditions instantly recognizable, even for beginners, without cluttering the chart.
Real-Time Feedback: The live ChopIndex label keeps you informed without needing to dig into settings or calculations.
Customization: Adjustable period and threshold settings let traders tailor it to their specific needs, unlike many static chop indicators.
This combination transforms a classic concept into a user-friendly, actionable tool that bridges the gap between novice intuition and professional precision.
SPY QQQ DayTrade Final - 5 Bars CooldownFocusing on trading SPY and QQQ
Users should look at into 3/5 mins chart, please do not go to less than 3 mins chart
It it use for the day trade instead of swing trade
This should be very easy to use and understand
Please common below if you have any questions
Malama's ScalpingMalama's Scalping Strategy Description
Purpose
"Malama's Scalping" is a strategy designed for traders who want to capitalize on short-term price movements in fast-moving markets. It identifies precise buy and sell opportunities by combining trend analysis, momentum, volume, volatility, and candlestick patterns. This script solves the problem of finding reliable entry and exit points in choppy or unpredictable markets, making it ideal for scalpers—traders who aim to profit from small, quick price changes—while offering built-in risk management through stop-loss and take-profit settings.
How It Works
The strategy uses a blend of popular technical indicators and custom logic to confirm trading signals:
Trend Direction: A 50-period Simple Moving Average (SMA) acts as a trend filter. If the price is above this line, it’s a bullish (buy-friendly) market; if below, it’s bearish (sell-friendly).
Momentum: The Relative Strength Index (RSI) measures price speed over 14 periods. It ensures the market isn’t overbought (RSI < 70) for buys or oversold (RSI > 30) for sells.
Volume: It compares current trading volume to a 20-period average to confirm strong market participation—only high-volume moves trigger signals.
Volatility: The Average True Range (ATR) over 14 periods checks if price swings are big enough (above a user-set minimum, default 2.0) to justify a trade.
Candlestick Patterns: Simple yet effective patterns (e.g., a bullish candle closing higher than the previous day’s close after opening lower) add confirmation to signals.
A buy or sell signal only triggers when all these conditions align, ensuring high-probability trades. Once a signal fires, the strategy automatically places trades with customizable stop-loss (e.g., 1% below entry) and take-profit (e.g., 2% above entry) levels.
How to Use It
Adding to TradingView: Open TradingView, go to the "Pine Editor" at the bottom, paste the script, and click "Add to Chart." You’ll see a blue trend line and buy/sell labels appear.
Configuring Settings: Adjust inputs in the "Settings" menu:
Trend Length (50): Increase for smoother trends, decrease for faster signals.
RSI Length (14): Tweak for sensitivity to momentum.
Stop Loss (1%) and Take Profit (2%): Set based on your risk tolerance.
Volume Length (20): Adjust to filter volume strength.
Volatility Length (14) and Minimum Volatility (2.0): Fine-tune for your asset (e.g., higher for volatile stocks like TSLA).
Interpreting Signals:
A green "Buy" label below a bar means enter a long position.
A red "Sell" label above a bar means enter a short position.
Watch the blue trend line to gauge the bigger picture.
Tips for Beginners: Start with the default settings on a 1- or 5-minute chart for scalping. Test it on a demo account first to get comfortable with the signals.
For Pros: Pair it with your favorite indicators (e.g., Bollinger Bands) or adjust the ATR minimum for specific markets. Use backtesting in TradingView’s "Strategy Tester" to optimize settings.
Originality
What makes "Malama's Scalping" stand out is its multi-filter approach. Unlike basic strategies relying on one or two indicators, it demands agreement across trend, momentum, volume, volatility, and candlestick patterns—reducing false signals and boosting confidence. The built-in automation with customizable risk management also sets it apart, offering a hands-off option for scalpers who want precision without constant monitoring. Plus, its flexibility (e.g., adjustable volatility for stocks like TSLA) makes it adaptable to various assets and timeframes, a rarity in scalping tools.
This strategy bridges the gap between simplicity for beginners and robustness for pros, delivering a unique, all-in-one scalping solution.
Black–Scholes model - Options premium calculatorBlack-Scholes Options Pricing Calculator in Pine Script Introduction
The Black-Scholes model is one of the most widely used mathematical models for pricing options. It provides a theoretical estimate of the price of European-style options based on factors such as the underlying asset price, strike price, time to expiration, volatility, risk-free rate, and option type.
This Pine Script implementation of the Black-Scholes options pricing model enables traders to calculate call and put option prices directly within TradingView, helping them assess potential trades more efficiently.
What Does This Script Do?
This script allows traders to input essential option parameters and instantly calculate both call and put option prices using the Black-Scholes formula. It provides:
• A user-friendly interface for inputting option parameters.
• Automatic computation of option prices.
• Real-time updates as market data changes.
Key Features:
• Uses the Black-Scholes formula to compute European call and put option prices.
• User-defined inputs for stock price, strike price, time to expiration, volatility, and risk-free rate.
• Displays calculated option prices on the TradingView chart.
Understanding the Black-Scholes Formula:
The Black-Scholes model is given by the following equations:
C=S0N(d1)−Xe−rtN(d2)C = S_0 N(d_1) - Xe^{-rt} N(d_2) P=Xe−rtN(−d2)−S0N(−d1)P = Xe^{-rt} N(-d_2) - S_0 N(-d_1)
Where:
• CC = Call option price
• PP = Put option price
• S0S_0 = Current stock price
• XX = Strike price
• rr = Risk-free interest rate
• tt = Time to expiration (in years)
• σ\sigma = Volatility of the stock (annualized)
• N(x)N(x) = Cumulative standard normal distribution
• d1d_1 and d2d_2 are given by:
d1=ln(S0/X)+(r+σ2/2)tσtd_1 = \frac{ \ln(S_0/X) + (r + \sigma^2/2)t }{ \sigma \sqrt{t} } d2=d1−σtd_2 = d_1 - \sigma \sqrt{t}
This script implements these calculations efficiently in Pine Script to help traders quickly determine fair values for options based on current market conditions.
Example Calculation:
(The following example values were true at the time of publishing this script. Option prices fluctuate constantly, so actual values may vary.)
• Underlying asset price (NIFTY): 23,519.35
• ATM Call Strike Price: 23,500
• ATM Put Strike Price: 23,550
• IV (Implied Volatility) for Call Option: 8.1%
• IV (Implied Volatility) for Put Option: 10.1%
• Expiry Date: April 3, 2025
Using the Black-Scholes model, the calculated theoretical prices are:
• Theoretical ATM CE price: ₹129
• Theoretical ATM PE price: ₹118
For comparison, the actual option prices from the option chain table at the time of writing were:
• Actual ATM CE price: ₹139.70
• Actual ATM PE price: ₹120.30
As we can see, there is a larger difference between the theoretical price and actual market price for the ATM Call option compared to the ATM Put option.
If you're an experienced trader, you likely know how to use this kind of information to identify potential market inefficiencies or trading opportunities.
How to Use This Script:
1. Add the script to your TradingView chart.
2. Input the necessary parameters such as stock price, strike price, volatility, risk-free rate, and time to expiration.
3. View the calculated call and put option prices directly on the chart.
This Black-Scholes options pricing calculator provides a convenient way to compute theoretical option prices within TradingView. It helps traders analyse whether an option is fairly priced based on market conditions.
While the Black-Scholes model has its limitations (e.g., it does not account for early exercise of American options or dividend payments), it remains a powerful tool for European-style options pricing and a foundational concept in financial markets.
A handy little tool! Unfortunately, this script requires manual data entry since automatic data capture is currently not possible. If this ever becomes feasible in the future, an updated version will be released.
Try it out and let me know your feedback!
Disclaimer:
Please note that this is only for study/educational purpose and is just one of the many tools a trader may use.
Use it at your own risk.
Regards!
Elliott Wave Identification By Akash Patel
This script is designed to visually highlight areas on the chart where there are consecutive bullish (green) or bearish (red) candles. It also identifies sequences of three consecutive candles of the same type (bullish or bearish) and highlights those areas with adjustable box opacity. Here's a breakdown of the functionality:
---
### Key Features:
1. **Bullish & Bearish Candle Identification:**
- **Bullish Candle:** When the closing price is higher than the opening price (`close > open`).
- **Bearish Candle:** When the closing price is lower than the opening price (`close < open`).
2. **Consecutive Candle Counter:**
- The script counts consecutive bullish and bearish candles, which resets when the direction changes (from bullish to bearish or vice versa).
- The script tracks these counts using the `bullishCount` and `bearishCount` variables, which are incremented based on whether the current candle is bullish or bearish.
3. **Highlighting Candle Areas:**
- If there are **3 or more consecutive bullish candles**, the script will highlight the background in a green color with 90% transparency (adjustable).
- Similarly, if there are **3 or more consecutive bearish candles**, the script will highlight the background in a red color with 90% transparency (adjustable).
4. **Three-Candle Sequence:**
- The script checks if there are three consecutive bullish candles (`threeBullish`) or three consecutive bearish candles (`threeBearish`).
- A box is drawn around these areas to visually highlight the sequence. The boxes extend to the right edge of the chart, and their opacity can be adjusted.
5. **Box Creation:**
- For bullish sequences, a green box is created using the high and low prices of the three candles in the sequence.
- For bearish sequences, a red box is created in the same manner.
- The box size is determined by the highest high and the lowest low of the three consecutive candles.
6. **Box Opacity:**
- You can adjust the opacity of the boxes through the input parameters `Bullish Box Opacity` and `Bearish Box Opacity` (ranging from 0 to 100).
- A higher opacity will make the boxes more solid, while a lower opacity will make them more transparent.
7. **Box Cleanup:**
- The script also includes logic to remove boxes when they are no longer needed, ensuring the chart remains clean without excessive box overlays.
8. **Extending Boxes to the Right:**
- When a bullish or bearish sequence is identified, the boxes are extended to the right edge of the chart for continued visibility.
---
### How It Works:
- **Bullish Area Highlight:** When three or more consecutive bullish candles are detected, the background will turn green to indicate a strong bullish trend.
- **Bearish Area Highlight:** When three or more consecutive bearish candles are detected, the background will turn red to indicate a strong bearish trend.
- **Three Consecutive Candle Box:** A green box will appear around three consecutive bullish candles, and a red box will appear around three consecutive bearish candles. These boxes can be extended to the right edge of the chart, making the sequence visually clear.
---
### Adjustable Parameters:
1. **Bullish Box Opacity:** Set the opacity (transparency) level of the bullish boxes. Ranges from 0 (completely transparent) to 100 (completely opaque).
2. **Bearish Box Opacity:** Set the opacity (transparency) level of the bearish boxes. Ranges from 0 (completely transparent) to 100 (completely opaque).
---
This indicator is useful for identifying strong trends and visually confirming market momentum, especially in situations where you want to spot sequences of bullish or bearish candles over multiple bars. It can be customized to suit different trading styles and chart preferences by adjusting the opacity of the boxes and background highlights.
