CM_OldSchool_Projected_high_LowHeard this story from Larry Williams…the trader who holds the record for winning the U.S. Trading Championship by turning $10K in to 2 Million.
A trader named Owen Taylor developed this formula as a Floor Trader before to calculate the Projected High and Low of the next day.
The formula worked so well…Owen charged other Traders 1K to get it.
I was pretty impressed with the results…so I coded it for the Weekly, Monthly, Quarterly, and Yearly Projected High Low.
While Owen considered these levels to be major support and resistance, Larry has developed many strategies based on the Breakout of the Projected High Low.
Therefore I coded it so the Levels would plot Yellow, and change to Green if the Projected High was taken out, and Red if the Projected Low was taken out.
***I’ve noticed on many instruments, Stocks, Index’s, Forex etc., depending on the instrument it works great as Support/Resistance or Breakouts.
***On a Daily Chart put the Quarterly and Yearly levels on SPY and EURUSD and go back about 10 years. Levels are pretty accurate.
Pinescript
Opening Range Breakout with 2 Profit Targets.Opening Range Breakout with 2 Profit Targets.
Updated Indicator now works on all Symbols with Many Different Session Options.
***Known PineScript Issue…While the Opening Range is being Formed the lines only adjust for that individual bar. Just reset Indicator after Opening Range Completes.
***All Times are Based on New York Time
Session Options Forex U.S. Banks Open (8:00), Gold U.S. Open (8:20), Oil U.S. Open (9:00), U.S. Cash Session - Stocks (9:30), NY Forex Open (17:00) , Europe Open (02:00), or if you choose Setting 0 the Session Runs from 00:00 to 00:00 (Midnight to Midnight).
***Ability to use 60 minute Opening Range, 30 minute, 15 minute, and many other options.
***However you can manually change the times in the Inputs Tab to adjust for any session you prefer. This is useful for Day Light Savings Adjustments. Also the default times work if your charts are set to EST Time. If you use A different time zone in your settings you need to Adjust the times in the inputs tab.
Initially Opening Range High and Low plot as Yellow Lines. If Price Goes Above Opening Range then Line Turns Green. If Price Goes Below Opening Range Line Turns Red.
By default the First Profit Target is 1/2 the Width of the Opening Range and the 2nd Profit Target is 1 Times the Opening Range. However these are Adjustable in the Inputs Tab.
By Default the Opening Range Length is 1 Hour. However, you can Change the Opening Range Length to 15 min, 30 min, 2 hours etc. in the Inputs Tab.
Plots a 1 Above or Below Candle when 1st Profit Target is Achieved, and a 2 when 2nd Profit Target is Achieved.
_CM_BarRange_PercentileI know a Trader that went 18 months without a losing trade. This Trader averaged trading 700-800 contracts per month in the Futures markets.
The was not his only system but here were his rules.
He looked at the 60 minute bar and calculated the ranges of the bars over the last 3 months. IF the range of the Bar was Greater Than the 99th Percentile, He would Fade that move or take the trade in the opposite direction.
Thought process is If the Price Bar is Greater Than the 99th Percentile then typically the market reverses. This happens a lot of times at news events. If you’ve studied the markets long enough you know if a Nes based event causes a Huge Move, which we define as Greater than the 99th Percentile, the Market typically moves in the opposite direction.
***This is dependent on the Instrument your trading and the time frame your trading. Some Instruments and time frames this signals a continuation move.
I also added in the Low of the Range based on the 99th Percentile. Often times Low Range Bars…especially if they appear at the top of a swing move, or the bottom of a swing move…create a high probability entry once the High or Low of the bar is taken out in the opposite direction of the previous move…The Low Range bars show indecision after a strong move and create great reversal opportunities.
Works on All Time Frames…again depending on the instrument your trading.
On instruments that MOVE or have High Volatility like Crude and Oil you can get great signals on 1 minute bars.
***Code includes ability to pick ham many bars you want your Look Back Period To Be.
***You can change the percentages to use the 99th Percentile, or 95th percentile, etc…
***The Green Line is the Value of the High Range Percentile.
***The Red Line is the Value of the Low Range Percentile.
***Plots a Magenta Cross on the Red Line if the Range is Below the Low Range Percentile.
***Plots a yellow Cross on the Green Line if the Range is Greater Than the High Range Percentile.
***The Aqua line is the Midpoint of the Range. Or the Average Price Move.
***Colors the Price Bar Yellow if the Range exceeds the High Range Percentile.
***Colors The Bar Magenta if the Range is Less Than the Low Range Percentile
***All parameters can be turned on or off via Check Boxes in the Inputs Tab
We Are Witnessing A Historical Event With A Clear Outcome!!!"Full Disclosure: I came across this information from www.SentimenTrader.com
I have no financial affiliation…They provide incredible statistical facts on
The General Market, Currencies, and Futures. They offer a two week free trial.
I Highly Recommend.
The S&P 500 has gone 43 trading days without a 1% daily move, up or down.
which is the equivalent of two months and one day in trading days.
During this stretch, the S&P has gained more than 4%,
and it has notched a 52-week high recently as well.
Since 1952, there were nine other precedents. All of
these went 42 trading days without a 1% move, all of
them saw the S&P gain at least 4% during their streaks,
and all of them saw the S&P close at a 52-week highs.
***There was consistent weakness a week later, with only three
gainers, and all below +0.5%.
***After that, stocks did better, often continuing an Extraordinary move higher.
Charts can sometimes give us a better nuance than
numbers from a table, and from the charts we can see a
general pattern -
***if stocks held up well in the following
weeks, then they tended to do extremely well in the
months ahead.
***If stocks started to stumble after this two-
month period of calm, however, then the following months
tended to show a lot more volatility.
We already know we're seeing an exceptional market
environment at the moment, going against a large number
of precedents that argued for weakness here, instead of
the rally we've seen. If we continue to head higher in
spite of everything, these precedents would suggest that
we're in the midst of something that could be TRULY EXTRAORDINARY.
CM_Pivot Points_CustomCustom Pivots Indicator - Plots Yearly, Quarterly, Monthly, Weekly, and Daily Levels.
I created this indicator because when you have multiple Pivots on one chart (For Example The Monthly, Weekly, And Daily Pivots), the only way to know exactly what pivot level your looking at is to color ALL S1 Pivots the same color, but create the plot types to look different. For example S1 = Bright Green with Daily being small circles, weekly being bigger circles, and monthly being even bigger crosses for example. This allows you to visually know exactly what pivot levels your looking at…Instantly without thinking. This indicator allows you to Choose any clor you want for any Pivot Level, and Choose The Plot Type.
Code Plots - High, Low, Open, Close—Daily, Weekly, & Monthly!!!Custom Code Plots High, Low, Open, Close
Plots Today And/Or Previous Day
Daily, Weekly, & Monthly TimeFrames
Default Settings:
Green = High
Silver = Open
Fuchsia = Close
Red = Low
Current D-W-M = Circles as Plots
Previous D-W-M = Cross as Plots
By Default The Current Days High, Low, Open, Close Plots. There are Check boxes On The Inputs Tab To Turn All Options On And Off.
***Tip - For Intra-Day Trades…I Find It Useful To Plot Previous Days High, Low, Open, Close For Support/Resistance, & Breakout Levels. Plotting the Current Weekly and Monthly Levels Is Also Very Useful.
***If You Trade Daily Charts The Previous Months Levels Are Very Useful as Support/Resistance, & Breakout Levels….
Code For High, Low, Open, Close
pastebin.com
Video On Importing Custom Indicators from PasteBin:
videos.tradingview.com
Indicators: Better Volume Indicator & InstrumentVolumeBetter Volume Indicator
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This is a direct port of a famous indicator from Tradestation platform.
BVI improves on your typical volume histogram by coloring the bars based on 5 criteria:
* Volume Climax Up – high volume, high range, up bars (red)
* Volume Climax Down – high volume, high range, down bars (white)
* High Volume Churn – high volume, low range bars (green, barcolor= blue)
* Low Volume – low volume bars (yellow)
* Volume Climax plus High Volume Churn – both the above conditions (magenta)
When there are no volume signals the default histogram bar coloring is cyan.
Bars can also be colored to match volume color. Enable "Change BarColors?" in the options page.
Volume Climax Up bars are typically seen at:
* The start of up trends
* The end of up trends, and
* Pullbacks during down trends.
Volume Climax Down bars are typically seen at:
* The start of down trends
* The end of down trends, and
* Pullbacks during up trends.
High Volume Churn bars are typically seen at:
* The end of up trends
* The end of down trends, and
* Profit taking mid-trend.
Low Volume bars are typically seen at:
* The end of up trends
* The end of down trends, and
* Pullbacks mid-trend.
More info:
emini-watch.com
Instrument Volume
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This is a simple script that allows you to plot volume for any instrument.
Very handy when you want to compare volumes. Just add multiple instances and select the symbol you want via Options page.
This script also gets close/open for the selected symbol. If you are itching to get started on Pinescripting (scripting language used at TV), I suggest trying out the following, using this script as the template:
- Show RSI for any instrument
(hint: "close" for the selected symbol is already in script. Do a "plot(rsi(c, 14))")
- MACD / CCI / ....
- Plot the difference (not correlation). This may be of interest in some instruments.
For ex. BTC in BTCE exchange mostly lags BITSTAMP.
Hope this piques your interest in Pine. Feel free to post in the Pinescript room if you have any queries.
Custom Indicator--Interesting Thought Process!I was asked to create this Indicator by TV user Drat. In the 1st Post I go into Specific Details of the Indicator. The Concept is Valid and the 1st Post is Worth Reading.
Found $13K Profit-Simple Strategy-Highlights Days Of The WeekSee 1st Chart Post For Specific Details. Custom Indicator Highlights Bars for Specific Days of Week. Works on Daily Charts and Intraday Charts. Option to Highlight One Day or Multiple Days.
Indicator: Volatility Quality Index [VQI]Volatility Quality Index (VQI), by Thomas Stridsman, points out the difference between bad and good volatility in order to identify better trade opportunities in the market.
This plots 3 lines:
- Red line is the VQI (actually, sum of VQI).
- Green line is the 9-period SMA of sum_of_VQI.
- Orange line is the 200-period SMA of sum_of_VQI.
Stridsman suggested to buy when VQI has increased in the previous 10 bars (use the SMAs) and sell when it has decreased in the previous 10 bars. IMO, use this with your other indicators as a confirmation signal.
More info: www.3pips.com
To use this indicator in your charts, click on "Share" button (top right on the chart). Click on "Make it mine" button on the dialog that pops up. Now, you will have a copy of this chart with the indicator's source code in it. Click on "{}" to open the source code of VQI_LB and save it to your custom scripts section.
Indicator: Market Facilitation Index [MFIndex]
***** NOTE: You may see all GREEN circles (it is due to a recent TV update). To work around this issue, change the "Circles" to "Cross" via Format -> Style *****
Market Facilitation Index, by Bill Williams, plots the effectiveness of price movement by computing the price movement per volume unit.
4 possible combinations of MFIndex and Volume are:
Green :
---------------------------------
MFIndex increases and the volume increases. This means that the amount of participants entering the market increases, therefore the volume increases and the fresh incoming players align their positions in the direction of candlestick growth.
Fade :
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MFIndex falls and volume falls. It means that the market participants are indifferent and the price movement is small on small volumes. This usually happens at the end of a trend.
Fake :
------------------------------
MFIndex increases, but the volume falls. It is highly likely that the market is being supported by broker speculation and not any significant client volume.
Squat :
--------------------------------
MFIndex falls, but the volume increases. In this particular situation bulls and bears are fighting between themselves to see who will dominate the next trend. These battles are noticeable by the large sell and buy volumes. However, the price does not change appreciably since the strengths are equal. One of the competing parties either the buyers or the sellers will ultimately triumph in the battle. Usually, the fracture of such a candle indicates if this particular candle determines the continuation of the trend, or terminates the trend.
More info: en.wikipedia.org
Code: pastebin.com
Indicators: Twiggs Money Flow [TMF] & Wilder's MA [WiMA]TMF is a CMF (Chaikin Money Flow) variation that addresses some of the gaps in the original indicator. More info: www.incrediblecharts.com
TMF uses true range, rather than daily Highs minus Lows. Also, uses Wilder's MA rather than SMA/EMA.
Since I had to write Wilder's MA (WiMA) for TMF, I have published that also as a separate indicator. WiMA is like EMA, but with a different "alpha" value.
How to include this in your charts?
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- Click on "Share" button (top right on this chart). A dialog box opens up.
- Click on "Make it mine" button. This will create a copy of my published chart for you to edit.
- You can click on "{}" button next to the indicator name to get access to the source code.
- Save it to your CustomScripts library.
