This Pine Script indicator calculates and visualizes the price movement for each candlestick on the chart. - **Calculation**: The price movement for each candle is determined by subtracting the opening price from the closing price. - **Visualization**: The price movement is plotted as a histogram, with positive values indicating upward movement (green bars)...
**PROWIN STUDY BASIC CURRENT CANDLE TABLE** **Description:** The PROWIN STUDY BASIC CURRENT CANDLE TABLE indicator provides an insightful analysis of the current candle's volume and its comparative performance against the last 50 candles. This script includes several features designed to help traders understand volume trends and potential market direction. **Key...
Library "colorLab" The ColorLab library presents an essential solution for color optimization, leveraging color terms and philosophy. Through its capabilities, it furnishes the necessary versatility to attain optimal color representation and coherence by integrating functions. tint_level(colour, level) Determines a Tinted color Parameters: colour...
Simple script to add standard Japanese candles in a new pane for use when using a non-standard chart (Ex: Heikin Ashi) that doesn't use true OHLC values in it's calculation so that you can still monitor true values and activity without having to take up the screen real estate that using a layout containing a whole new chart would require. This also makes...
Pine Script code to detect support levels on a chart
Are high retail sales increases really positive if the inflation rate is higher? This year over year indicator of retail sales versus inflation levels can be placed in concert with any security to determine how symbols trade when inflation or retail sales are higher. A green histogram is when retail sales are higher than the inflation rate on a year over year...
This script creates an indicator that displays the volume of each interval along with two Exponential Moving Averages (EMAs). Here's how the code works: Interval Length and EMA Lengths: Users can specify the length of each interval in candles and the lengths of two EMAs (EMA 1 and EMA 2) using input parameters. Calculating EMAs: The script calculates two EMAs...
The Wyckoff Method Market Cycle Indicator is a powerful tool designed to help traders identify the current market phase based on the principles of the Wyckoff Method. This indicator analyzes price action and volume patterns to determine whether the market is in an accumulation, markup, distribution, or markdown phase. The Wyckoff Method, developed by Richard D....
Name: LumleyTrading Gaps Description: The Gap Tracker Indicator is a powerful tool designed for traders to identify, monitor, and capitalize on price gaps in financial markets. It serves two primary functions: Identifying Gaps: The indicator scans price action to detect instances where the current trading session's opening price significantly differs from the...
The Moving Average Cross Heatmap Created by Technicator , visualizes the crossing distances between multiple moving averages using a heat map style color coding. The main purpose of this visualization is to help identify potential trend changes or trading opportunities by looking at where the moving averages cross over each other. Key Features: Can plot up...
Description: Indicator Name: Moving Average Crossover Strategy Overview: The "Moving Average Crossover Strategy" is a technical analysis indicator that combines moving averages and the Relative Strength Index (RSI) to identify potential buy and sell signals. It aims to capture trend reversals and momentum shifts in the market. Key Components: Moving...
This custom Pine Script indicator allows traders and analysts to compare the performance of two distinct assets by visualizing their price ratio over time. The "Ratio Chart" indicator plots the ratio of the closing prices of any two selected assets, making it easier to observe how one asset performs relative to another within the same chart. Features: 1....
Dividend-to-ROE Ratio Indicator The Dividend-to-ROE Ratio indicator offers valuable insights into a company's dividend distribution relative to its profitability, specifically comparing the Dividend Payout Ratio (proportion of earnings as dividends) to the Return on Equity (ROE), a measure of profitability from shareholder equity. Interpretation: 1. Higher...
The end of month effect is a well known trading strategy in the stock market. Quite simply, most stocks go up at the end of the month. What's even better is that this effect spills over to the next phew days of the next month. In this script we backtest this theory which should work especially well on SP500 pair. By default the strategy buys 2 days before the...
This indicator was specifically designed to plot levels published by Walnut on SPY and ES charts. In the indicator's configuration settings, you are required to input the desired levels in the following format: (Description), (Description), (Description), .... Additionally, you have the option to configure whether to display labels and if those labels should...
The HTF Candle Consistency indicator tracks the most recent candle sentiment in up to 10 Higher Timeframe (HTF) and colors the user chart candle bodies based on the dominating sentiment. Users can weigh specific timeframes more significantly. Additionally, the script provides an HTF dashboard that displays the current directional readouts for each selected...
Title: "EMA 200 Dynamic Projection on 4H and Daily Charts" Description: "This script is designed to provide traders with a comprehensive view of market trends by displaying the 200-period Exponential Moving Average (EMA) on both 4-hour and daily charts simultaneously. Unlike typical EMA representations, this script enhances user decision-making by projecting the...
"Volume Spectrum Candles" is a visually intuitive trading indicator that enhances candlestick charts by incorporating trading volume directly into the color of each candle. Purpose and Utility: This tool assigns a unique color gradient to candlesticks, which varies from light to dark based on the volume of trades executed. This feature allows traders to...