True Strength Indicator BTCUSD 2HScript based on True Strength Index (TSI) and RSI
A technical momentum indicator that helps traders determine overbought and oversold conditions of a security by incorporating the short-term purchasing momentum of the market with the lagging benefits of moving averages. Generally a 25-day exponential moving average (EMA) is applied to the difference between two share prices, and then a 13-day EMA is applied to the result, making the indicator more sensitive to prevailing market conditions.
!!! IMPORTANT IN ORDER TO AVOID REPAITING ISSUES
!!! USE Chart resolution >= resCustom parameter, suggestion 2H
Yellow zones indicates that you can claim position for better profits even before a claim confirmation.
Dark zones indicates areas where RSI shows overbought and oversold conditions.
BTCUSD
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Fibonacci ClustersI was reading about Fibonacci Clusters on investopedia (www.investopedia.com) and couldn't find a script for it on tradingveiw. Apparently some people use it successfully but I found it a little chaotic. This script will mark the retracements in a window's length, and you can set this for six windows. This script isn't very pretty because it doesn't seem obviously useful and pinescript has far too many deficiencies to fully flesh this idea out. I was able to make more sense out of larger windowing times (500-4000 periods), than shorter ones (25-333). Try it out, see what it shows you. Happy trading
Two EMA's crossing w/ TRIX & ADX/DI & EMA@RSI filteringThe initial idea for the "X-candle" script is from @nmike, and the requirement was to mark the bar with positive or negative as EMA(5) and EMA(13) cross. Later, it was requested to filter the above with Trix(3) so it just crosses the "zero" line and goes in either positive or negative territory - confirming the EMA's crossing.
In addition, one of my ideas was to integrate 2 more rules, and the final looked something like this ...
The script marks the candle vertical background with green or red when all 4 rules are satisfied:
1. Between the current and previous bar has to be a cross of the EMA lines (by default: EMA 5 and EMA 13)
2. The current bar is the first or second bar crossing the zero TRIX line ... going in either Positive or Negative range, confirming the first rule
3. ADX is above threshold 25 & DI is also valid (higher than the opposite DI) ... confirming trend direction and strength
4. EMA(21) on top of RSI(13), one of my favorites, so it has to be valid also
At the end the script did extensive filtering, and it does filter some good ones also. Needs more work, less filtering, more tolerance, and new rules. All of the above indicator parameters can be modified easily, so anybody can play with. If you find some better indicator parameters that will provide a more efficient filtering, please let us know and drop me a note.
Thanks!
Two EMA's crossing w/ TRIX & ADX/DI & EMA@RSI filteringThe initial idea for the "X-candle" script is from @nmike, and the requirement was to mark the bar with positive or negative as EMA(5) and EMA(13) cross. Later, it was requested to filter the above with Trix(3) so it just crosses the "zero" line and goes in either positive or negative territory - confirming the EMA's crossing.
In addition, one of my ideas was to integrate 2 more rules, and the final looked something like this ...
The script marks the candle vertical background with green or red when all 4 rules are satisfied:
1. Between the current and previous bar has to be a cross of the EMA lines (by default: EMA 5 and EMA 13)
2. The current bar is the first or second bar crossing the zero TRIX line ... going in either Positive or Negative range, confirming the first rule
3. ADX is above threshold 25 & DI is also valid (higher than the opposite DI) ... confirming trend direction and strength
4. EMA(21) on top of RSI(13), one of my favorites, so it has to be valid also
At the end the script did extensive filtering, and it does filter some good ones also. Needs more work, less filtering, more tolerance, and new rules. All of the above indicator parameters can be modified easily, so anybody can play with. If you find some better indicator parameters that will provide a more efficient filtering, please let us know and drop me a note.
Thanks!
Noro's BottomSensivity v0.4- 4 indicators of a market bottom in 1
- paramater of sensitivity (2 of 4 is recommended)
- SMA as the filter improves result (any pair, any type of an asset, any TF is recommended 25)
JNSARJust Nifty SAR strategy has been developed by our Master Ilangovan.
Trading based on JNSAR:
JNSAR is a number based on market’s strength and weakness as well as the balance of demand and supply. Whatever the number may be, a choppy market could whipsaw the number occasionally to shake off your confidence in them. However, staying with one method brings you consistent winnings.
Step:1: As the JNSAR for yesterday was xxxx and the previous trade taken was a sell @ yyyy on “previous” day, the moment Nifty breached xxxx yesterday, you close out your earlier short and take a long position in minimum 2 lots – Stop and reverse (SAR).
Step:2: If after triggering a reversal long trade @ xxxx and markets fall again, you keep a filter of 20 to 30 points to JNSAR and manage them. Knowing key support numbers closer to JNSAR help in filtering out the whipsaws during long trades and Knowing key resistance numbers closer to JNSAR help in filtering out the whipsaws during short trades.
Step:3:Once a new trade is taken in with a minimum of 2 lots, you book on one lot with a profit of 50, 100+ points and keep the 2nd lot till a reverse trade is triggered based on each subsequent day’s JNSAR.
Step:4: After booking out on the 1st lot, if Nifty climbs back(retraces) substantially and start to fall again, take a new trade(rebuying) again. Rebuying the part booked trade is done at 50% to 61.8% of last segment of rise ( Reselling the part booked trade is done at 50% to 61.8% of last segment of fall) OR at critical 21 or 34 HrSmas. This step is optional and suited for the experienced.
Step:5: You may use the filter of 25 to 30 points on JNSAR for 2 days once JNSAR new trade is taken to give the new trade a fighting chance & survive. For eg: For the new long trade taken @ xxxx yesterday, the JNSAR of today @ zzzz may be altered to zzzz-30.
Step:6: Do not count your winnings. Stay focussed on each trade.
Get Rich Slowly & Quietly.
(Mr. Ilangovan)
CDC RSI Divergence 15-10-2016An updated version of CDC RSI Divergence
The last version have fixed reversal amount to weed out false signal.
The reversal amount, however, needs to be calibrated to different chart.
The new one uses ATR instead, user can customize the ATR multiplier.
THIS IS NOT A TRADING SIGNAL SYSTEM
though it can be used in such a way it is not designed to.
The system helps identify Bullish and Bearish Divergence to help trader change their bias accordingly and should be used in conjunction with a trend following signal.
BULLISH DIVERGENCE is displayed with a green fill over 50 line.
BEARISH DIVERGENCE is displayed with a red fill under 50 line.
The indicator start on the bar where divergence is detected and persists for another 25 bars for easy regcognition.
DI histo + adxThis is a DI + ,DI - with ADX , but instead of plot the 2 lines of Directional moviment ( + and -), we have a histogram of the difference between DI+ and DI-. As zero line I used value of 25, so can plot the ADX too
VolumeVsVSMAComparisonShows 3 bars. One for the 100sma, one for 25sma, and one for 5sma. The bar color is blue if it's "low volume" compared to the sma, green if it's about average, yellow if it's high, and red if it's very high.
Top bar is 100sma, middle is 25, and bottom is 5
GC Magic Overlay V2This script is based on Guppy method (www.guppytraders.com
) , it was introduced to me by fellow trader @nmike. I am using this script in conjunction to Clones ,Harmonic and other tools.
Script Function:
a. Script plots the fast and slow Exponential moving averages as ribbons.
EMA's used
EMA (close): 25,30,35,40,45,50,55 (Green)
EMA (close): 89,99,109,119,129,139,149 (Red)
b. It draws the Circle dots in Pink for Sell and Black for Buy.
Script Parameters:
a. EMA : 2 emas for cross
b. Signal Exponential moving average
c. which time frame to Plot the above Signal Exponential
d. Show Guppy Slow - Red - Toggle to show red emas on chart
e. Show Guppy Fast - Green- Toggle to show green emas on chart
How to Trade:
a. Wait for the Pink/Black Dot to appear on Chart
b. Do not take trade immediately after the dot appears. Wait for the price to retrace back and touch the ema ribbons.This will keep you away from fake breakouts.
c. Rentries : in examples below
Examples:
BB 25 with BarcolorsI published this script before. I took a good long look at it and decided this edition could be entitled, "Less is More". If you look at the script there was just too much going on so I took out (//) a lot of the conditions and bar colors in favor of simplicity. The idea is that price tends to bounce off upper or lower bands eventually, so it was in that context I made the edit. If you copy the script feel free to take some of, or all of the (//) to see what you want to see. You might come up with something totally different. The danger, in my opinion,of over editing code from any indicator is that you run the risk of fooling yourself. I made the same adjustment in the BB 100 with Barcolors.
BB 100 with Barcolors6/19/15 I added confirmation highlight bars to the code. In other words, if a candle bounced off the lower Bollinger band, it needed one more close above the previous candle to confirm a higher probability that a change in investor sentiment has reversed. Same is true for upper Bollinger band bounces. I also added confirmation highlight bars to the 100 sma (the basis). The idea is that lower and upper bands are potential points of support and resistance. The same is true of the basis if a trend is to continue. 6/28/15 I added a plotshape to identify closes above/below TLine. One thing this system points out is it operates best in a trend reversal. Consolidations will whipsaw the indicator too much. I have found that when this happens, if using daily candles, switch to hourly, 30 min, etc., to catch a better signal. Nothing moves in a straight line. As with any indicator, it is a tool to be used in conjunction with the art AND science of trading. As always, try the indicator for a time so that you are comfortable enough to use real money. This is designed to be used with "BB 25 with Barcolors".
BB 25 with Barcolors6/19/15 I added confirmation highlight bars to the code. In other words, if a candle bounced off the lower Bollinger band, it needed one more close above the previous candle to confirm a higher probability that a change in investor sentiment has reversed. Same is true for upper Bollinger band bounces. I also added confirmation highlight bars to the 100 sma (the basis). The idea is that lower and upper bands are potential points of support and resistance. The same is true of the basis if a trend is to continue. 6/28/15 I added a plotshape to identify closes above/below TLine. One thing this system points out is it operates best in a trend reversal. Consolidations will whipsaw the indicator too much. I have found that when this happens, if using daily candles, switch to hourly, 30 min, etc., to catch a better signal. Nothing moves in a straight line. As with any indicator, it is a tool to be used in conjunction with the art AND science of trading. As always, try the indicator for a time so that you are comfortable enough to use real money. This is designed to be used with "BB 100 with Barcolors".
BB 100 with Barcolors6/19/15 I added confirmation highlight bars to the code. In other words, if a candle bounced off the lower Bollinger band, it needed one more close above the previous candle to confirm a higher probability that a change in investor sentiment has reversed. Same is true for upper Bollinger band bounces. I also added confirmation highlight bars to the 100 sma (the basis). The idea is that lower and upper bands are potential points of support and resistance. The same is true of the basis if a trend is to continue. Nothing moves in a straight line. As with any indicator, it is a tool to be used in conjunction with the art AND science of trading. As always, try the indicator for a time so that you are comfortable enough to use real money. This is designed to be used with "BB 25 with Barcolors".
BB 100 with BarcolorsI cleaned up the highlight barcolor to reflect red or lime depending if it closed > or < the open.
The description is in the code. you want to catch bounces off the 25 (upper or lower) and 100 (upper or lower).
Works well on the hourly and 30 min charts. Haven't tested it beyond that. Haven't tested Forex, just equities.
LBR Paintbars [LazyBear]
Added coloring of LB bars above/below Keltner Channel (as suggested by user @20813 below in the comments).
Updated code: pastebin.com
See comments section below for a sample chart. Copy the code from the pastebin above and update your local copy (TV doesn't allow me to update an already published code -- yet!).
Added features:
- Switch ON/OFF KC
- Mark LB bars above/below KC
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The LBR PaintBars indicator changes the colour of the price bars based on the trend direction (derived from price & volatility bands). This is mostly used as a confirmation indicator.
For the Pine coders: I suggest trying stdev() in lieu of atr()...some wild combinations can be derived from this simple idea :)
Indicator supports the following options:
- Switching on/off volatility bands
- Switching on/off LBR colors (lime/maroon).
- Color non-LBR bars (blue).
Thanks @mseaworthy for pinging me with this idea.
Complete list of my indicators:
-----------------------------
docs.google.com
UCS_CycleThis indicator was designed to remove trend from price and make it easier to identify cycles.
Although this indicator has similarities to MACD. It is better used to identify the cycle of High and Lows based on the Statistical Data (Default is set to 25).
**** DO NOT USE THIS AS A MOMENTUM INDICATOR ****
Directional Movement Index + ADX & Keylevel SupportADX and DMI oscillator with the keylevel coded in to the script, set for 23, suggested settings is 23 - 25 any trade with the ADX above the keylevel is a strong indicator that it is trending.
True Strength Indicator MTFHere is an example of a script showing a multi-time frame of TSI.
Chart below compares FX EURUSD Daily TSI to 1H TSI
Here is an updated version
study("True Strength Indicator MTF", shorttitle="TSI MTF")
resCustom = input(title="Timeframe", type=resolution, defval="60" )
long = input(title="Long Length", type=integer, defval=25)
short = input(title="Short Length", type=integer, defval=13)
signal = input(title="Signal Length", type=integer, defval=13)
price = close
double_smooth(src, long, short) =>
fist_smooth = ema(src, long)
ema(fist_smooth, short)
pc = change(price)
double_smoothed_pc = double_smooth(pc, long, short)
double_smoothed_abs_pc = double_smooth(abs(pc), long, short)
tsi_value = 100 * (double_smoothed_pc / double_smoothed_abs_pc)
tsi = security(tickerid, resCustom,tsi_value)
plot(tsi, color=black)
plot(ema(tsi, signal), color=red)
hline(0, title="Zero")
TFS: MBO indicator MBO indicator is the third component of TFS trading system. This indicator
was developed by Bryan Strain and Mark Whitley.
The idea of MBO is similar to moving average convergence/divergence (MACD)
indicator. It is calculated by subtracting the 200-day moving average from
the 25-day moving average.