Nadaraya-Watson OscillatorThis indicator is based on the work of @jdehorty and his amazing Nadaraya-Watson Kernel Envelope, which you can see here:
General Description
The Nadaraya-Watson Oscillator (NWO) will give the same information as the Nadaraya-Watson Envelope, but as an oscillator off the main chart, by plotting the relationship between price and the Kernel and its bands. This also means that we can now detect divergences between price and the NWO.
You can see the relationship between the two here:
You can think of this indicator as the kernel envelope version of a Bollinger Band %B. In ranging markets the bands are perfect for mean reversion trades, but in certain situations the break of one of the bands can signal the beggining of a strong trend and price will remain close to the bands for a long period and will only give small pullbacks. As with any indicator, confluence with price and other tools must be taken into account.
Main Features
As with @jdehorty 's Envelope, you can change the following settings:
Lookback Window.
Relative Weighting.
The initial bar for the regression.
ATR period for the bands.
Inner and Outer Multiples for the bands.
I also added the following:
A middle band around the Kernel to filter out false crossovers.
A Hull Moving Average to smoothen out the movements of the oscillator and give extra confirmation of turnover points.
Colors
Some special things to note regarding the coloring:
The zero line features a gradient that changes color every time the Kernel slope changes direction.
The Oscillator plot has a gradient coloring that gets stronger the closer it gets to each of the bands.
Every time the oscillator crosses over/under the outer bands the background will be highlighted.
Happy trading!
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LNL Simple Hedging ToolLNL Simple Hedging Tool
Simple Hedging Tool was created specifically for swing traders who struggle with hedging. This tool helps to spot the ideal moments to put the hedges on (protection of the portfolio during "high risk" times). Simple Hedging Tool will not help you when day trading. It was designed for the daily charts. It is called simple because it is pretty much self-explanatory indicator. The candles are either blue or yellow. Meaning of the colors depend on the version you are using. This tool consist of two versions:
SPX Version:
This version was designed for indexes & overall market benchmarks. In contrast with the VIX version, the SPX version is little more sophisticated since it is based on key market internals. Blue arrows above the candles? More often than not this is signalizing that the key market internals are now approaching bearish signals which means it is the best time to hedge any bullish positions. On the contrary, the yellow arrows are the good reason to lighten up of the shorts & ease off the gas pedal on any bearish outlooks.
VIX Version:
Apart from the black swan events (big market crashes) Vix usually oscillates between the daily extremes. The VIX version is based on a simple bollinger band technique which is visualized with blue & yellow arrows. Whenever the yellow arrows & candles appear, it is good time to put the hedges on & perhaps lighten up on longs.
IMPORTANT DISCLAIMER:
The signals from this tool WILL NOT TELL YOU where to buy or sell! But rather when is a good time TO NOT buy or TO NOT sell. Once the signals appear it does not necessarily mean that the move is over & reversion willl happen immidiately. These signals can be flashing for days even weeks. They are not flashing for you to change the bias but rather tighten up your exposure in case your portfolio is mostly one sided.
Hope it helps.
ADD 2This is a modification to the original ADD script by Tom1trader
I added the option to choose the timeframe, moving average type and length.
Note from the original script:
"This is the NYSE Advancers - decliners which the SPX pretty much follows. You can chart it like any index (ADD -NYSE $ADV MINUS $DECL) but I find it more useful in a separate panel with colors for direction.
The level gives an idea of days move (example: plus or minus 500 is not much movement through the session) but I follow the direction as when more stocks advance (green) or decline (red) the index tends to track it pretty closely.
On SPX , SPY and correlates - very useful for intra-day trading (Scalping or 0DTE option trades) but not for higher time frames at all. If you chart the ADD in a chart and compare 5 minute to daily you will see what I mean."
Momentum Reversal [AngelAlgo]The Momentum Reversal Indicator is a technical analysis tool used to identify potential reversals and trends in financial markets. It does this by comparing the momentum of a market to its trend. The momentum is calculated by measuring the change in price over a specified time interval set by the "Period" input. The trend is then determined as the simple moving average of the momentum, with the length of the moving average determined by the "Trend length" input. When the momentum deviates significantly from the trend, it is considered a potential reversal signal. The user can choose to receive signals based on either "Contrarian" or "Trend" signals type, and also has the option to smooth the signals using the Hull Moving Average. The indicator is plotted as a histogram with trading signals indicated by triangle shapes (up for buys, down for sells). The histogram is also accompanied by a smoothed line representation of the indicator and dynamic threshold levels.
The color of the histogram bars is green if the momentum is positive, red if it's negative. The histogram can be smoothed using the Hull Moving Average (HMA) if the "Smoothed signals" input is set to true.
The indicator also plots the threshold levels, which are dynamically calculated as the simple moving average (SMA) of the absolute value of the histogram. The threshold levels are plotted as circles on the chart.
The signals are plotted as arrows on the chart, either triangle-up for buy signals, or triangle-down for sell signals. If "Contrarian" signals are selected, a triangle-up will appear when the histogram crosses below the lower threshold, and a triangle-down will appear when it crosses above the upper threshold. If "Trend" signals are selected, a triangle-up will appear when the histogram crosses above the upper threshold, and a triangle-down will appear when it crosses below the lower threshold. Trend signals work for trending markets, Contrarian signals are good for ranging markets.
SETTINGS
Period: This input allows you to set the period for the momentum calculation. The default value is 14.
Trend length: This input allows you to set the length of the trend-following moving average. The default value is 50.
Signals type : This input allows you to choose the type of signals you want to receive. You can choose between "Contrarian" and "Trend" signals. The default value is "Contrarian".
Smoothed signals: This input allows you to choose between the raw or smoothed signals. If set to true, the signals will be based on the smoothed histogram line, otherwise, they will be based on the raw histogram. The default value is true.
Weis Wave Volume - Simple labels and comparisonThis script is designed to identify and display the Weis Wave Volume on a chart. The Weis Wave Volume is a volume-based indicator that helps traders analyze market waves, identify trend reversals, and assess the strength of a trend. The script calculates wave volume based on user-defined input parameters, detects price waves, and displays the results as labels on the chart.
This version in particular is based on ideas from @the_MarketWhisperer and some other pieces of the script from @LucF.
The overall functionality of the script is to identify price waves and their corresponding volume. It does this by determining the trend direction and detecting trend reversals based on user-defined inputs such as the Trend reversal length and Price source for trend detection. The script also calculates and displays the cumulative volume of the current wave, the number of bars in the wave, the average volume in the wave, and consecutive increasing average volume bars in the same wave:
- An 'o' is printed to show that the volume of the current wave was 'O'ver/ above the count of the volume from preceding wave (regardless of it being up or down).
- An 'u' is printed to show that the volume of the current wave was 'U'nder/ below the count of the volume from preceding wave (regardless of it being up or down).
- Current wave will be between ' ' signaling that the wave is not confirmed yet.
- Actual values for the wave are available as tooltips. You decide how many bars to show the labels for, but for now and since I am a fan of clean charts, this is set to 50.
The user can adjust various inputs that affect the output of the script, such as Trend reversal length, Price source for trend detection, Labels for X last bars. Adjusting these inputs allows the trader to customize the script's behavior to better suit their trading style or specific market conditions. For example, by increasing the Trend reversal length, the script will require more consecutive bars in the opposite direction to confirm a trend reversal, potentially filtering out shorter-term price fluctuations. Similarly, adjusting the Price source for trend detection allows the user to base trend calculations on different price values, such as the high, low, or close of each bar.
In addition to the customizable inputs, the user can enable or disable the display of pivot markers and choose the colors for the up and down volume labels. This helps the trader to easily visualize and analyze the wave volume information on the chart.
In summary, this script offers traders a powerful tool for visualizing and analyzing the Weis Wave Volume on a chart. By identifying price waves, detecting trend reversals, and providing insights into the strength of a trend based on volume, the script can be a valuable addition to a trader's technical analysis toolbox. Please note this is not meant to provide any buy or sell signals, it should be rather used to complement your existing analysis.
Have fun and trade wisely ;)
Leveraged Share Conversion IndicatorHello everyone,
Releasing my leveraged share conversion indicator.
I noticed that the option traders have all the fun and resources but the share traders don't really have many resources in terms of adjusting or profits on leveraged and inverse shares. So, I decided to change that this this indicator!
What it does:
In a nut shell, the calculator converts one share to the price of another through the use of a regression based analysis.
There are multiple pre-stored libraries available in the indicator, including IWM, SPY, BTC and QQQ.
However, if the ticker you want to convert is not in one of the pre-defined libraries, you can select "Use Alternative Ticker" and indicate the stock you wish to convert.
Using Libraries:
If the conversion you want is available in one of the libraries, simply select the conversion you would like. For example, if you want to convert SPY to SPXU, select that conversion. The indicator will then launch up the conversion results which it will display in a dashboard to the right and will also display the plotted conversion on a chart (see imagine below:
In the dashboard, the indicator will show you:
a) The conversion result: This is the most likely price based on the analysis
b) The standard error: This is the degree of error within the conversion. This is the basis of the upper and lower bands. In statistics, we can add and subtract the standard error from the likely result to get the "Upper" and "Lower" Confidence levels of assessment. This is just a fancy way of saying the range in which our predicted result will fall. So, for example, in the image above it shows you the price of SPXU is assessed to be around 16$ based on SPY's price. The standard error range is 15-17. This means that, the majority of the time, based on this SPY close price, SPXU should fall between 15-17$ with the most likely result being the 16$ range.
Why is there error?
Because leveraged shares have an inherent decay in them. The degree of decay can be captured utilizing the standard error. So at any given time, the small changes in price fluctuations caused by the fact that the share is leveraged can be assessed and displayed using standard error measurements.
c) The current correlation: This is important! Because if the stocks are not strongly correlated, it tells you there is a problem. In general, a perfect correlation is 1 or -1 (perfectly negative correlation or inverse correlation) and a bad correlation is anything under 0.5 or -0.5. So, for an INVERSE leveraged share, you would expect the correlation to read a negative value. Ideally -1. Because the inverse share is doing the opposite of the underlying (if the underlying goes up, the inverse goes down and vice versa). For a non-inverse leveraged share, the correlation should read a positive value. As the underlying goes up, so too does the leveraged.
Manual Conversion using Library:
If you are using a pre-defined library but want to convert a manual close price, simply select "Enable manual conversion" at the bottom of the settings and then type in the manual close price. If you are converting SPY to SPXU, type in the manual close price of SPY to get the result in SPXU and vice versa.
Using an Alternative Ticker:
If the ticker you want is not available in a pre-defined library (i.e. UDOW, BOIL, APPU, TSLL, etc.), simply select "Use Alternative Ticker" in the settings menu. When you select this, make sure your chart is set to the dominant chart. The "Dominant chart" is the chart of the underlying. So, if you want TSLA to TSLL, be sure you have the TSLA chart open and then set your Alternative Ticker to TSLL or TSLQ.
The process of using an Alternative Ticker remains the same. If you wish to enter a manual close price, simply select "Enable Manual Conversion".
Special Considerations:
The indicator uses 1 hour candles. Thus, please leave your dominant chart set on the 1 hour time frame to avoid confusing the indicator.
The lookback period of the manual conversion is 10, 1 hour candles. As such, the results should not be used to make longer term predictions (i.e. anything over 6 months is pushing the capabilities of a manual conversion but fair game for the pre-defined library conversions which use more longer-term data).
You can technically use the indicator to make assessments between 2 separate equities. For example, the relationship between QQQ and ARKK, SPY and DIA, IWM and SPY, etc. If there is a good enough correlation, you can use it to make predictions of the opposing ticker. For example, if DIA goes to 340, what would SPY likely do? And vice versa.
As always, I have prepared a tutorial and getting started video for your reference:
As always, let me know your questions and requests/recommendations for the indicator below. This indicator is my final reference indicator in my 3 part reference indicator release. I will be going back over the feedback to make improvements based on the suggestions I have received. So please feel free to leave any suggestions here and I will take them into consideration for improvement!
Thank you for checking this out and as always, safe trades!
VWAP2D+Displays the current and previous days' VWAP. A useful tool for intraday VWAP traders or to optimize longer term entries or exits.
Features:
Shows levels exceeding the average deviation for the time of day as either warm or cool gradients.
Custom alerts including "Closing In Range" which uses the ATR to determine if the closing value in in the vicinity of the current day's VWAP.
Ultimate P&L IndicatorHello everyone,
Excited to release this P&L Indicator! Read below for more details.
What it does:
This is an indicator that permits you to track your active P&L live on Tradingview. As well, it provides some insight into DCAing your position by giving you live estimates of your revised DCA if you were to add to your position at various targets/price points.
Who is it for:
I developed it because I trade 100% off of Tradingview but my broker does not support Tradingview integration. So I wanted a way to track my position live on the Tradingview platform without having to constantly reference my broker. I also wanted to be able to set position specific alerts right on Tradingview.
How does it work:
It works by the user manually inputting their trade information, including their DCA, position size and the date and time of position entry. The indicator can provide real time and live DCA adjusted estimates if you were to add to your position at the current stock price, or you can manually calculcate your revised DCA at a specific price target.
The indicator also displays your current and past performance on your position for the duration of the position period:
Elements:
Capabilities:
The indicator is compatible with both futures and share trading.
Option trading is not directly available, however, you can get an idea for your option position P&L by following the 1 option contract = 100 share rule.
So if you have 5 option contracts that you bought at a ticker price of, say, 38$, your average cost or DCA would be 38 and your position size would be 500. This will not be 100% accurate, but will be close enough to give you a feel for your active P&L.
If you are trading futures, you will need to select "Futures Trading" and specify the TIck and Index costs. A cheat sheet has been provided in the tool tip for ES, Oil and MNQ. The default is set for ES1! mini futures at 0.25 ticks per 50$.
Important tips:
1. Select the date and time of your position (optional): This is optional but will provide you with the clearest and most accurate review of how your position has performed, including the highest and lowest (drawdown).
2. Select whether it is a share position or a futures position (this is required).
3. Select whether it is a long or short position (this is required).
4. Input your DCA and position size (this is required).
5. Most importantly, select the ticker your position is based in!
I have also prepared a quick start video which is linked below:
As always, please let me know your comments/questions and feedback for the indicator.
Thanks for checking it out and safe trades everyone!
[VWMA] Net Volume LibraryLibrary " Net Volume Library"
TODO: The underlying logic and function that calculates the net volume for the Net Volume indicator. Exposes the nv function and nvPoint fields for use.
nv(src, length, useVwma, offset, sigma, multHigh, multMed, multLow)
Parameters:
src : (float) The source price value
length : (int) The lookback length
useVwma : (bool) To use VWMA in the calculation or not
offset : (float) The ALMA offset value
sigma : (int) The ALMA sigma value
multHigh : (float) The multiplier high band
multMed : (float) The multiplier medium band
multLow : (float) The multiplier low band
Returns: Returns the calculated net volume for each band in an nvPoint object
nvPoint
Fields:
h2
h1
h
n
l
l1
l2
Gaps [Kioseff Trading]Hello!
This script "Gaps" is a continuation and improvement on a subset indicator included in the "Quartile Volume; Volume Aggregation; US Range Bars; Gaps)" script!
As advised by @thebearfib, the "Gaps" indicator is now standalone!
Features
Stat: Avg. Bars to Fill Up Gap
Stat: Avg. Bars to Fill Down Gap
Stat: Cumulative Up Gap % Increase
Stat: Cumulative Down Gap % Increase
Stat: Avg Up Gap % Increase
Stat: Avg Down Gap % Decrease
Nearest Unfilled Up Gaps and Down Gaps Displayed in Table
% Price Move Requirement, Including Dollar Amount, for Nearest Unfilled Gaps to Fill
Gaps Marked on Chart, Including Partially Filled Gaps and The % Amount a Partially Filled Gap Has Been Violated
Gaps Chart
The image above shows the data tables included in the indicator!
Settings
The image above shows various settings for the indicator!
The image above shows how partially filled gaps are marked using the default settings.
Exceeded price areas are shaded darker; however, by selecting the "No Partially Filled Gaps" option, the indicator will treat partially filled gaps differently.
The image above shows alternative behavior! Instead of the gap changing color it narrows in size.
The image above shows the indicator's behavior when selecting to show gap data in labels.
Therefore, when a gap is small and the box text is imperceptible, you can select to show the data in a label.
Additionally, you can select to display a "Gaps Chart".
The image above shows this feature enabled. The gaps chart shows the sequence of price gaps for the asset as candlesticks.
Thank you for checking this out; if you'd like other features included please let me know!
I11L - Risk Adjusted LeveragingThis trading system, called "I11L - Risk Adjusted Leveraging", is designed to manage trades based on the current market volatility relative to its historical average. The system calculates the target number of open trades based on the ATR (Average True Range) indicator and adjusts the leverage accordingly. The system opens and closes trades using a pyramiding approach, allowing multiple positions to be opened at the same time.
Here's a step-by-step explanation of the system:
1. Calculate the ATR with a 14-day period and normalize it by dividing it by the current closing price.
2. Calculate the 100-day simple moving average (SMA) of the normalized ATR.
3. Calculate the ratio of the normalized ATR to its 100-day SMA.
4. Determine the target leverage based on the inverse of the ratio (2 / ratio).
5. Calculate the target number of open trades by multiplying the target leverage by 5.
6. Plot the target number of open trades and the current number of open trades on the chart.
7. Check if there's an opportunity to buy (if the current number of open trades is less than the target) or close a trade (if the current number of open trades is more than the target plus 1).
8. If there's an opportunity to buy, open a long trade and add the trade's name to the openTrades array.
9. If there's an opportunity to close a trade and there are trades in the openTrades array, close the most recent trade by referencing the array and remove it from the array.
This system aims to capture trends in the market by dynamically adjusting the number of open trades and leverage based on the market's volatility. It uses an array to keep track of open trades, allowing for better control over the opening and closing of individual trades.
Vigilant Asset Allocation G4 Backtesting EngineThis script was based off of an idea that @CubanEmissary had so the description and some of the code that @CubanEmissary built on TradingView was used.
Vigilant Asset Allocation G4 (VAA G4) is a dual-momentum based investment strategy that aggressively monitors the market and reallocates portfolio funds based on the relative momentums of user-defined risk assets and safety assets. It was created by Wouter Keller and JW Keuning, based on their paper "Breadth Momentum and Vigilant Asset Allocation." In contrast to traditional dual momentum strategies, VAA G4 monitors the market itself through the two asset types. When all risk assets have positive momentum, the portfolio is allocated entirely into the risk asset with the strongest momentum At any other time, the portfolio is allocated entirely into the safety asset with the strongest momentum. The combination of breadth momentum with a very defensive reallocation trigger results in a strategy which captures alpha consistently.
The Strategy Rules:
1. Calculate each asset's momentum score on each monthly close:
momentumScore = (12*(currentMonthlyClose/lastMonthlyClose))+(4*(currentMonthlyClose/thirdLastMonthlyClose))+(2*(currentMonthlyClose/sixthLastMonthlyClose))+(currentMonthlyClose/twelvethLastMonthlyClose)-19
2. If all risk asset momentums are positive, allocate entire portfolio to the risk asset with the strongest momentum.
3. If any risk asset's momentum is negative, allocate entire portfolio to the safety asset with the strongest momentum.
4. Reevaluate at the end of each month.
Caveats:
1. It seems like TradingView only has limited price data for these tickers that are listed in the strategy. So it is best to start the strategy when they all have ample data (~ June 2nd, 2008)
2. This backtesting engine is basic and doesn't account for slippage and trading fees. So I implemented a basic "trading fee" input that will subtract a trading fee whenever the strategy makes a trade at the end of the month.
3. It is assumed in this engine that the trades will be made the exact second a new monthly bar opens up.
4. MUST USE ON MONTHLY CHART. It is hard-coded to work on monthly chart, if you open it on a daily chart , the Sharpe, Sortino, & CAGR calculations might not be right as well as the momentum score
Volume StrengthThe "Volume Strength" indicator
A technical analysis tool that helps traders evaluate the strength of the current market trend by measuring the cumulative volume over a specified period of time. It calculates the cumulative volume of a stock and divides it by the average cumulative volume over a specified period. This ratio is referred to as the "volume strength" and is plotted as a line on a chart. The indicator also provides overbought and oversold levels, which are horizontal lines on the chart that represent predetermined levels of overbought and oversold conditions.
The color of the volume strength line changes based on the current strength level. If the line is above the overbought level, it is colored red. If the line is below the oversold level, it is colored green. If the line is between the overbought and oversold levels, it is colored blue. The indicator also provides alerts for overbought and oversold conditions.
HOW TO USE:
1. Load the indicator onto the chart of the desired market. It works best in markets where volume data is available, such as stocks, futures, indices and cryptocurrencies. But you can also use it in the Forex market, where tick volume data will be used to calculate the indicator.
2. Adjust the length parameter to set the period for which the cumulative volume is calculated and the average cumulative volume is calculated.
3. Adjust the overbought and oversold levels as desired. These levels determine the horizontal lines that represent overbought and oversold conditions on the chart.
4. Observe the volume strength line and the overbought/oversold levels on the chart. If the volume strength line is red, the volume is considered overbought. If the line is green, the volume is considered oversold. If the line is blue, the volume is considered to be between the overbought and oversold levels. The indicator will provide alerts for overbought and oversold conditions. The indicator is an excellent tool for finding price-volume divergences.
SETTINGS:
Length: The period over which the cumulative volume is calculated and the average cumulative volume is calculated. The default is 14.
Overbought Level: The level at which the volume is considered overbought. The default is 1.2.
Oversold Level: The level at which the volume is considered oversold. The default is 0.8.
Please leave a comment & like :)
Volume+ (Time of Day)This volume indicator measures the volume for each bar at the time of day and displays the average and +1 standard deviation above that average.
The color intensity of the bar is increased when the volume exceeds +1 standard deviation.
See how on the chart that other than the early morning and late day volume, there are clearly key moments in the day at 7am, 10am, 10:30am, and 11am. See how on the second day, there were volume spikes before 10am, 10:30am and then more obviously just before 11am.
DataChartLibrary "DataChart"
Library to plot scatterplot or heatmaps for your own set of data samples
draw(this)
draw contents of the chart object
Parameters:
this : Chart object
Returns: current chart object
init(this)
Initialize Chart object.
Parameters:
this : Chart object to be initialized
Returns: current chart object
addSample(this, sample, trigger)
Add sample data to chart using Sample object
Parameters:
this : Chart object
sample : Sample object containing sample x and y values to be plotted
trigger : Samples are added to chart only if trigger is set to true. Default value is true
Returns: current chart object
addSample(this, x, y, trigger)
Add sample data to chart using x and y values
Parameters:
this : Chart object
x : x value of sample data
y : y value of sample data
trigger : Samples are added to chart only if trigger is set to true. Default value is true
Returns: current chart object
addPriceSample(this, priceSampleData, config)
Add price sample data - special type of sample designed to measure price displacements of events
Parameters:
this : Chart object
priceSampleData : PriceSampleData object containing event driven displacement data of x and y
config : PriceSampleConfig object containing configurations for deriving x and y from priceSampleData
Returns: current chart object
Sample
Sample data for chart
Fields:
xValue : x value of the sample data
yValue : y value of the sample data
ChartProperties
Properties of plotting chart
Fields:
title : Title of the chart
suffix : Suffix for values. It can be used to reference 10X or 4% etc. Used only if format is not format.percent
matrixSize : size of the matrix used for plotting
chartType : Can be either scatterplot or heatmap. Default is scatterplot
outliersStart : Indicates the percentile of data to filter out from the starting point to get rid of outliers
outliersEnd : Indicates the percentile of data to filter out from the ending point to get rid of outliers.
backgroundColor
plotColor : color of plots on the chart. Default is color.yellow. Only used for scatterplot type
heatmapColor : color of heatmaps on the chart. Default is color.red. Only used for heatmap type
borderColor : border color of the chart table. Default is color.yellow.
plotSize : size of scatter plots. Default is size.large
format : data representation format in tooltips. Use mintick.percent if measuring any data in terms of percent. Else, use format.mintick
showCounters : display counters which shows totals on each quadrants. These are single cell tables at the corners displaying number of occurences on each quadrant.
showTitle : display title at the top center. Uses the title string set in the properties
counterBackground : background color of counter table cells. Default is color.teal
counterTextColor : text color of counter table cells. Default is color.white
counterTextSize : size of counter table cells. Default is size.large
titleBackground : background color of chart title. Default is color.maroon
titleTextColor : text color of the chart title. Default is color.white
titleTextSize : text size of the title cell. Default is size.large
addOutliersToBorder : If set, instead of removing the outliers, it will be added to the border cells.
useCommonScale : Use common scale for both x and y. If not selected, different scales are calculated based on range of x and y values from samples. Default is set to false.
plotchar : scatter plot character. Default is set to ascii bullet.
ChartDrawing
Chart drawing objects collection
Fields:
properties : ChartProperties object which determines the type and characteristics of chart being plotted
titleTable : table containing title of the chart.
mainTable : table containing plots or heatmaps.
quadrantTables : Array of tables containing counters of all 4 quandrants
Chart
Chart type which contains all the information of chart being plotted
Fields:
properties : ChartProperties object which determines the type and characteristics of chart being plotted
samples : Array of Sample objects collected over period of time for plotting on chart.
displacements : Array containing displacement values. Both x and y values
displacementX : Array containing only X displacement values.
displacementY : Array containing only Y displacement values.
drawing : ChartDrawing object which contains all the drawing elements
PriceSampleConfig
Configs used for adding specific type of samples called PriceSamples
Fields:
duration : impact duration for which price displacement samples are calculated.
useAtrReference : Default is true. If set to true, price is measured in terms of Atr. Else is measured in terms of percentage of price.
atrLength : atrLength to be used for measuring the price based on ATR. Used only if useAtrReference is set to true.
PriceSampleData
Special type of sample called price sample. Can be used instead of basic Sample type
Fields:
trigger : consider sample only if trigger is set to true. Default is true.
source : Price source. Default is close
highSource : High price source. Default is high
lowSource : Low price source. Default is low
tr : True range value. Default is ta.tr
Volume+This volume indicator uses a long WMA to establish an average volume and calculates the standard deviation based on that average. Each deviation level from 1 to 3 is also plotted with the bar color gradually increasing in intensity when more than one standard deviation is exceeded.
SPY 1 Minute Day TraderWhen scalping options, users are looking for where breakouts are going to occur instead of sitting thru areas choppy price action that drain delta and cause them to lose value even if price is up trending. This script tries to identify when a trend reversal is expected based on one minute price action on the SPY. It alerts users to prepare for potential breakout when 5 out of the 6 key optimized parameters are discovered by showing a white L or S. Once all six trigger, it informs the user at the close of that candle with a golden triangle with Pivot Up or Pivot Down. As scalping options is something that is expected to be short in duration, a take profit and stop loss of 30 cents of price actions is established. If five or more parameters occur after the pivot is initiated, then stop losses and take profits are adhered to; however, if there are less, then it waits to take profit or stop the trade, as likely it is just noise and it will finish trend with an additional breakout.
This script has been created to take into account how the following variables impact trend for SPY 1 Minute:
ema vs 13 ema : A cross establishes start of trend
MACD (Line, Signal & Slope) : If you have momentum
ADX : if you are trending
RSI : If the trend has strength
The above has been optimized to determine pivot points in the trend using key values for these 6 indicators
bounce up = ema5 > ema13 and macdLine < .5 and adx > 20 and macdSlope > 0 and signalLine > -.1 and rsiSignal > 40
bounce down = ema5 < ema13 and macdLine > -.5 and adx > 20 and signalLine < 0 and macdSlope < 0 and rsiSignal < 60
White L's indicate that 5 of 6 conditions are met due to impending uptrend w/ missing one in green below it
Yellow L's indicate that 6 of 6 conditions still are met
White S's indicate that 5 of 6 conditions are met due to impending downtrend w/ missing condition in red above it
Yellow S's indicate that 6 of 6 conditions still are met
After a downtrend or uptrend is established, once it closes it can't repeat for 10 minutes
Won't open any trades on last two minutes of any hours to avoid volatility
Will close any open trades going into last minute of hour to avoid large overnight random swings.
Market Condition DetectorThis script allows to change the background color of the main chart to green or red depending on the following factors:
Based on the QQQ graph whatever ticker you are watching
- Price > EMA20 Da
- Net New Highs > 0
- 10EMA Da > 20 EMA Da
When you are trading Break-Out, EP or other similar trades you will need the market at your back to improve both the winrate and the risk reward ratio.
This is a very useful tool if you struggle with the FOMO biais. It will help you detect the trend at a glance.
Remember that the top best trader are waiting for their trade to work and only after getting some traction, and only then will they take the next trade.
I also proceeded to find a formula that make the indicator be the smoother possible with the less possible amount of noise.
/!\ This indicator is intended for use on daily charts . /!\
Drip's 11am rule breakout/breakdown (OG)This indicator is based on Drippy2hard's 11:30 am (EST) rule.
In simple terms the rule states that:
If a trending stock makes a new high after 11:15-11:30am EST, there is a 75% chance of closing within 1% of High of day (HOD). Same applies for downtrend.
Please note:
Not all stocks will abide by this, this is backtested on stocks with avg daily volume > 2M and mostly mega cap stocks which have liquid option chains. The backtesting results show very promising results on $SPY/ $SPX so it is advised to trade $SPY/ $SPX using this indicator over any other stocks.
Although the name suggests 11 AM rule, the backtesting shows higher win rate for 11:30 AM so please select that option in the settings.
As always, no indicator is perfect and please follow your risk management and understand that indicators are tools to aid your trading and by no means they are supposed to work as intended in all scenarios
How the script works
1. A HOD/LOD zone is identified based on regular session (9:30am-11:30am) EST. Users can select cut off time to 11AM in the settings. These will be indicated on chart after 11/11:30pm depending on what user selected
2. If the stock breaks above the HOD and the ADX is showing strong momentum to upside then the candlesticks will start showing neon color, if the trend based on moving averages and candle closing is also bullish then the indicator will show trend arrows under the candle indicating to stay in the trade. Same applies for break below LOD, only the colors will change to represent downtrend.
3. An optional cloud is also shown if the trend is developed. The cloud can be used as trail stop or re entry point as long as it is displayed on chart
How to use the indicator in trading
In general, there are three scenarios which are trade worthy
1. If the stocks breaks out above the HOD zone and up trend develops or the stocks breaks below the LOD zone and downtrend develops. See images below
2. You can also use the LOD/HOD zone as demand/ supply if the Price action is range bound like this example below
Thanks for reading, please give thumbs up if you like using it! Please post comments on how to use it.
CBDE OscillatorWhat makes The Universe grow at an accelerating pace?
Dark Energy.
What makes The Economy grow at an accelerating pace?
Debt.
Debt is the Dark Energy of The Economy.
The Central Bank Dark Energy Oscillator (CBDEO) is a companion to the popular CBDET (Central Bank Dark Energy Tracer) script.
CBDEO is an oscillator that shows up in a separate TradingView pane in order to provide a relative change signal. It uses the same equations to aggregate central bank liquidity that are used in CBDET, and adds unique analysis tools that provide rate of change data.
There are 2 signals in the chart. First is the change/delta on a per bar basis, based on the chart time frame. The default style for this plot is "columns". This style parameter can be changed in the settings, along with each plot's visibility.
The second plot is a divergence signal that tests the change vs a simple moving average of the CBDET signal (central bank liquidity). The SMA length is customizable in the Input tab within the settings for the indicator. The SMA is based on the chart's current time frame.
The changes in liquidity on various time frames, and calculated as divergence against the liquidity signal SMA can be useful in determining the rate of change in liquidity, and therefore potential thrust in market price action.
Fundamentals Graphing [Kioseff Trading]Hello!
This script "Fundamental Comparison" allows you to compare almost any fundamental metric across 40 assets; various charting methods are employable!
Thank you to @TradingView / @PineCoders for providing the framework in the "Financials on Chart" indicator - thereby expediting a generous portion of work (:
Features
Most metrics included in the "Financials on Chart" indicator are graphable
Scatter chat
Histogram
Bar chart
Pie chart
Reversible scaling
Adjusts to the size of your chart
10 industry presets
Custom symbol dataset
Retrieve, graph, and compare fundamental data by quarter/year. The indicator can "look back" to grab fundamental data from previous quarters/years.
Sortable data - ascending/descending
Built-in search function
Self-Adjusting Graph
The graph adjusts to the orientation/size of your chart!
The image above shows the graph on a price chart with a 229 bar difference.
The image above shows the same price chart; however, there's now a 1941 bar difference to which the fundamentals graph automatically adjusts!
The images above show the same expansion/reduction for the pie chart; all graph types shrink and expand with the price chart.
Fundamental Metrics
The image above shows most of the settings for the indicator!
Most of the metrics from the "Financials on Chart" indicator are included!
Quarterly or annual data are retrievable, in addition to industry presets.
Additionally, you can retrieve the financial data any number of intervals back (so long as the data exists and is provided by TradingView)
The image above shows an example of retrieving a fundamental metric from a previous FQ. The same can be done with FY!
Sortable Data
All data retrieved by the indicator is sortable - allowing for, hopefully, easier evaluations (:
The image above exemplifies the capability!
Data from any quarter/year can be sorted similarly.
Reversible Scale / Reversible Color Scheme
A seemingly trivial feature: a reversible scale and color scheme should assist in instances where "a higher number is bad" and a "lower number is good" - in addition to other scenarios.
For instance,
The image above shows a graph for taxes. The scale and color scheme have not been reversed and, presently, larger columns are correlating to a smaller amount of money out/in than smaller columns.
This can be fixed by reversing the scale.
The image above shows the "Reverse Scale" feature selected. Consequently, larger columns correlate to a larger amount of money out/in.
Similarly, a "Reverse Colors" feature is available. A useful option when a more positive number is "bad" and a less positive number is "good".
For instance,
The image above shows graphing for the Beneish M-Score.
A more positive number is generally interpreted as "bad"; a less positive number is generally interpreted as "good".
However, our color scheme doesn't seem to correspond (unless one considers red = good and green = bad)
Let's enable the reverse color feature.
The image above shows the completion of the process!
Finally, there's a built-in search feature that's a bit difficult to use; however, should you grow comfortable with it you may save some time sorting through fundamental data.
Big thanks to @rumpypumpydumpy for providing an easy-to-work-with framework for the pie chart!
That's all for now; thank you for checking this out.
VIX Reference IndicatorHello everyone,
Releasing my VIX reference indicator.
What is it:
This indicator displays the current trading behaviour of the VIX.
It displays it in Z-Score Format along with identifying previous areas of reversal and displaying when the RSI is overbought or oversold on the VIX.
Who is it good for:
It is good for both day and swing traders who use the VIX in their trading plans.
It permits traders to look at different aspects of the VIX (RSI, Z-Score and Reversal areas) simultaneously while they are watching their current traded stock.
How does it work:
The indicator works by converting the VIX into a Z-Score (similar to bollinger bands).
It then plots the VIX out in Z-Score format in the indicator.
Because it is plotting the VIX based on Z-Score, it looks back to previous areas where the Z-Score led to a reversal (i.e. what was the lowest or highest Z-Score the VIX achieved in the lookback period before reversing).
It also looks at the RSI of the VIX. If the VIX RSI crosses at or above 70 (overbought), it will change the colour of the line to green. This means the VIX is overbought and will likely sell and thus, the thesis is, as the VIX sells, the stock you are trading should come up.
Below is a picture of the different aspects of the indicator:
Customaization:
Per usual, you can customize the colours and bands to your liking.
You are also able to specify the RSI length you want to look at as well as the Z-Score Reversal length and the timeframe length of the chart you are looking at.
The default settings are 75 Average Length lookback for the Z-Score Reversal and the Chart and 14 period RSI.
TIPS:
The most persuasive setups are when you get all 3 of the following:
1. A signal that supports the thesis (buy or sell) along with:
2. An RSI signal that supports the z-score signal along with:
3. The VIX trading at an extreme end of its Z-Score range
Example:
In the example above you will see the following conditions are met:
1. Z-Score historical reversal point identified (short)
2. VIX RSI is oversold (short)
3. VIX is at the bottom of its Z-Score range (short)
As always, I have done a quick tutorial video for your reference which you can see below:
Leave your questions/comments/requests below or on the video as I am always happy to get feedback on improvements and functionality.
Thank you everyone checking it out and safe trades!
Rainbow Moving AverageA Rainbow Moving Average script. There are many like it, but this one is mine. It is designed to be easy to read without too much noise in the number of lines and shading, with the moving average to be some of the commonly used ones. Using commonly referenced moving average values help us to understand "the crowd" and what moving average or trend lines they might be looking at. The default values are derived from hourly charts, but work well on any time frame.
The moving average function is simple to change so you can use it for any moving average type that you like, including volume-weighted.
Inspired by my daughter's love of rainbows, she has approved the colors.
