Jerry Romine Momentum Dream With Risk ManagementThe Momentum Dream Indicator with Risk Management is really two powerful indicators combined in one.
The Momentum Dream Indicator is a volatility and momentum indicator that measures the relationship between the Bollinger Bands and Keltner Channels to help identify consolidations and signal potential breakouts.
MOMENTUM DREAM INDICATOR:
SIGNALS AND ZONES:
Green Arrow = Post Squeeze Buy Triggered = GREEN โง shows squeeze out on upward momentum (often a good time to buy)
Orange Arrow = Post Squeeze Sell Alert = ORANGE โฉ shows squeeze out on downward momentum (often a good time to sell or NOT buy)
Green Dot on Chart - Day one of the buy zone
Green Shading - Buy Zone
Pink Dot on Chart - Day one of warning zone
Red Shading - Warning zone. Often a good time not to buy or to consider selling.
LABELS (Color Indicates Direction):
Momo Up / Down = Current momentum direction.
Squeeze = Squeeze is on and squeeze line dots are red.
Dots = number of day or bars the squeeze has been in red(on)
Squeeze Fired = Green or Orange arrow shows squeeze fired direction.
Stacked = Fibonacci 8, 21, 34, 55, 89 EMA are stacked up or down
SQUEEZE LINE COLOR DEFINITIONS:
Dark Red = Extra Squeeze (In & Out)
Red = Original Squeeze (In & Out)
Pink = Pre-Squeeze (In)
Yellow = Pre-Squeeze (Out)
Green = Bollinger Bands are officially outside of Keltner Channels
STRATEGY
There are multiple ways the Momentum Dream Indicator can be used.
1. Buy/Sell during the squeeze (generally lower volatility and lower option premiums)
2. Buy/Sell when the squeeze fires to catch the breakout (volume/volatility often increase)
3. Use Buy/Sell Zones with other signals for entering positions
4. Use Momentum to assist with position direction
5. Use fading momentum to tighten stops or close positions.
* The labels only show when certain criteria are met. For example if a squeeze fired the label only shows on that day but the indicator arrow will always show. For this reason the labels on the chart above will vary from day to day and only alert you when needed. :)
RISK MANAGEMENT INDICATOR
Risk management is a vital part of investing and this indicator provides 2 recommended positions sizes. One based on the classic 1-2% risk rule where you never risk more than X% of your account. A second based on position size not exceeding X% of your account.
The Risk Management Indicator does all of the hard math and provides you with a realistic trading plan, position size, and trail stop based on your customizable criteria. If youโve ever wondered how much of a stock to buy, when to sell and when to take profits this indicator is for you!
Please Use the link below for more information or to purchase.
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CPR by PIVOT EDGEIntroduction to the Indicator "CPR by PIVOT EDGE - with AUTO BUY SELL Triggers"
The Foundation layout for this indicator is based on PIVOT's strategy which are nothing but the most important levels that the price has respected in the past. The values for the pivots are derived from the key attributes of the price in any timeframe such as the previous OPEN, HIGH, LOW and CLOSE. These define the mood of the price and where it intends to move in relation to the previous range formed. Earlier HIGH - LOW i.e the RANGE indicates the possible movement that a stock can make in the current session and as per the calculated pivots we can possible find out the tentative supports and resistances. In addition to this indicator, It is advisable to use the price action theory which helps in taking a right decision for entries.
This indicator by itself is complete in nature, i.e it guides the user for possible entry levels and the projected targets that we can achieve and also the likely stop loss limit in case the price reverses. So beforehand even before entering into a trade position, the user can ascertain what can be his loss or max profit and then he can chose an optimum position size for favorable results. This Indicator also comes with labels for all PIVOTS like CPR , TC , BC , S1,R1, PDH , PDL etc.. which makes it easier to understand levels and trade
The beauty of this Indicator lies in the fact that it can be used for all types of trading styles like Scalping, Intra day, Swing or Positional and Investments also. It works on all timeframes and across all market segments like EQUITY, COMMODITIES , FUTURES , FOREX etc. This indicator can be used for any exchange and any time zone also without any changes or adjustments needed.
Now let us understand the features of this Indicator in detail.
TIMEFRAME - It has options to choose between Day, week and month as timeframe. By default it is set to Day timeframe - Though this Indicator works on all timeframes, it is advisable to work on ,15,30 mins Intraday and 1H,2H, 4H for Swing and D,W candles for Positional trades.
DISPLAY CPR BAND - This displays the CPR range that consists of Pivot , TC and BC . This Band or Range is the core of this indicator and this gives a detailed information about the tentative range and momentum of the market for the present period
as well a prediction for next session and also can tell you the history of its prior period. This level acts as both support and resistance based on the direction of the trend. The unique feature built in this indicator is that
the CPR Band changes its color based on whether it is ascending or descending CPR or in other works if it is higher value relation or lower value relation compared to previous session. Green for Higher and red for lower relation.
DISPLAY SUPPORT RESISTANCE - This indicates the important support and resistance levels for the day which is derived from the price details of prior period that is based on HIGH / LOW / CLOSE of prior period.
DISPLAY PREVIOUS HIGH / LOW / CLOSE - I have included Daily / Weekly. It is important to know the earlier highs / lows and close since price respects it very much just like support and resistance .
DISPLAY TOMORROW CPR - This displays the CPR band and support / resistance for tomorrow. It give an advance information of tomorrows trend and momentum today itself if you study the CPR concepts you can be prepared for tomorrows' market and can very well know in advance if it will be a sideways market or a trending day.
PMA - Pivot Moving averages are an important combination of 3 Fibonacci series based moving averages. Here I have used 9,14 & 23 as the series which I found gave best results after long period of back testing and finetuning. It clearly gives you the mid term trend of the price and if you just follow the color of the band then you wont go wrong. Always try to take entries whenever price finds support or resistance close to the curve and avoid taking entries whenever price is too far from these curves.
These curves and the area are also color coded to depict buying and selling zones.
MAJOR TREND - This displays the prevailing major trend in the market and I have used as 200 period moving average by default which you can change to suit your needs. You can check the major trend of the market by using higher timeframes above 1Hr.
MARKET BIAS INDICATOR - One more unique feature of this Indicator is the background color which denotes on which medium trend currently the market is i.e whether Buying is favorable or selling is favorable. Light blue if for Buying zone and Light yellow is for selling zone.
BUY SELL triggers - This is going to be the most unique and advanced feature of this indicator. I have carefully studied and created a special trigger system which will alert the user whenever a BUY or SELL opportunity is presented in the stock. This is the result from a lot of study of the pivot strategies, CPR techniques, Price action theory, Candle stick patterns , market structure and my trading experience all put together. You can set the automatic alerts to any number of stocks to whichever timeframe you prefer either for Intraday or even swing & positional trading. ( Depends on the type of Trading view account you hold). Please note that this Indicator trigger's works even for the free trading view account and you do not need paid version.
Color classification - Buy triggers bars will be colored in Parrot green or Lime green color, Sell triggers bars will be colored in pink color. Regular Bullish and bearish candles will remain as Green and red.
ALERTS - I have coded automatic alert system in trading view and named them as ENTRY SIGNALS. You can add alerts to any of the stocks at whichever timeframe you prefer so that whenever there is a BUY or a SELL condition met, you will get notification or Desktop / Mobile app / Email etc.
IMPORTANT NOTE : This indicator does not guarantee any favorable results nor protect your from any loss. You own the complete risk of your trades. It is suggested that you use this indicator and do back testing for considerable period to understand how it works the the potential win rate it can give.
Delta Ladder Candles SpacemanDelta Ladder Candles Spaceman
This is a tool thats very useful for traders primarily a goal to provide all types of traders some confluence to price action trading.
Using calculation of time and volume, the candles are created for the higher timeframe adjusted for buying and selling delta volume.
This tool is useful for determining an increase in buy or sell pressure as well as possibly to show trapped buyers and sellers when near points of extremes such as swing highs and lows.
Auto tick size takes into account exisiting volatility and finding an average to generate a size that is likely applicable to the timeframe selected whilst also allowing
the indicator to generate data accurately on all potential charts.
To generate the data it creates a candle profile essentially with an empty body to allow for a look into the general formation of a candle.
The logic is to provide a simpler version of volume metrics for tv charts without compramising.
TO DO:
Consider a non delta variant setting.
Look back period increase potential, perhaps allow for set periods to create candles on ignoring all other data points.
Potetial intrabar state component to give a more accurate buy/sell delta
Volume Play This is going to be my first published indicator on Trading View. Thanks for TradingView for providing us this great platform And thanks for all of those who helps me to built this indicator and share there ideas.I cannot mention everyone name here believe me that list going to be huge.Everyoneโs idea and help is much appreciated.This is how our TradingView community is growing day by day with kindness and knowledge. Every time I take so much from community in form knowledge that every time somewhere I feel that I also need to do something for community and finally day arrived .A gift from my side to community.A gift of indicator-VOLUME PLAY
This volume based indicator has High Relative Volume bar Background, Low Relative Volume bar background ,Volume Labels of Buying volume, Selling volume and Total volume count with percentage, Highest Volume in Percentage and Highest 5x volume count and 10x volume count of bar.Plus I have did column scaling to take Down pan input so you can switch pane or add in existing pane without any major problem And all this works on any time frame. Isnโt it good idea?
This indicator displays theย volumeย of each session in a similar manner of the defaultย volumeย indicator.However it add on the last bar Green and Red bar colours. Green means buying is more than selling and Red means selling is more than buying.On top of Some bar If number appears That means thatโs volume is highest multiple volume of 5 and if number appears with label means highest multiple volume of 10.So simple without label volume counts means 5x and with label means 10x.
Now some of bars has background colour of Mint green , Pastel red and White.Thatโs highlight high relative volume barsย with a highly buying activity rangeย in Greenย and high relative volume barsย with a highly selling activity rangeย in Red And white background is low relative volume for that timeframe bar.
I am kind of person who donโt keep show indicator value enable all time.So itโs come in mind why not plot this values without enabling it.So I decided to show this values of buying, selling and total volumes on top near middle pane.Interesting thing is that I made a label with the help of pine script Table feature.Thanks a lot toย Pine Teamย to add this new great feature!ย Itโs great alternative for labels feature.Because of this feature I am able to locate buying, selling and total volume at right place where in most of scenario it will adjust.
Please note that all values are estimate.Itโs not accurate.I show volumes in K,M form.Plus with volume I also try to show Buying And Selling volume in percentage form to get rough idea about whatโs going on in instrument.Idea is to get better view ofย volume by splitting it into Buying , Sellingย and Total volume.This allows you to see are the bulls or bears in-control in relation to the overallย Volume.
By default this indicator overlay is false but you can move this indicator pane to existing upper or lower pane.It will help to save space as well.If combine with two indicator at same pane then it will create two value scale at right side.So you will not loose any indicators values.By default I used 50% of vertical space in indicator scale factor.
I tried to make this indicator as accurate as inbuilt volume indicator with added extra feature.The main aim of indicator to get Idea of volume role in that symbol with that specific timeframe.Result might not be accurate but I expect somewhat nearby to accurate.
Kept source code open purposely for learners of pine script. Please avoid misuse or selling of this indicator.Remember Sharing Is Caring. If someone has suggestions or any addition then please comment below.Wishing you all abundance of health, wealth, and prosperity.
After all its all about VOLUME PLAY.
Disclaimer:-This indicator is not meant for buy or sell signals.This post and the script donโt provide any financial advice. This indicator/code IS NOT intended to be a formal investment advice or recommendation by the author, nor should be construed as such. Users will be fully responsible by their use regarding their own trading vehicles/assets.
{Gunzo} Bulls Power vs. Bears PowerBulls Power vs. Bears Power is a unique tool that displays on each candle the balance between the bears (sellers) and the bulls (buyers).
OVERWIEW :
This indicator is mainly based on the popular indicator โElder rayโ made by Dr. Alexander Elder in 1989. This indicator has been developed in order to determine the strength of the competing groups of buyers and sellers in the markets.
CALCULATION :
To measure the competing power of bulls and bears, the indicator compares the current high (maximum power of the bulls) and current low (maximum power of the bears) to the average price using a exponential moving average.
Bull Power = Current High โ EMA 13 (closing)
Bear Power = Current Low โ EMA 13 (closing)
This Elder ray indicator can also tell us more information about market conditions :
If the current high and current low are above the EMA 13, the bulls are totally in control on the market
If the current high and current low are under the EMA 13, the bears are totally in control of the market
If the EMA 13 is in between of the current high and current low, there is strong fight about controlling the market, there is possible reversal in this configuration
SETTINGS :
Fast MA Period : Fast moving average period (only used for buy sell signal)
Slow MA Period : Slow moving average period (only used for buy sell signal)
Display candle labels : Show/hide candle labels on the chart
Display only bear labels above X : Exclude all top candle labels on the chart below the value specified.
Display only bull labels above X : Exclude all bottom candle labels on the chart below the value specified.
Display opposite values : Show all candle labels on top (bearish) and bottom (bullish) or only show the candle labels for the winning force on the candle.
Display box for last candle : Show/hide the dominance boxes (red and blue) after last candle showing the last bear and bull power.
Display box after X candles : How many candles in the future the dominance boxes should be displayed.
Display slow / fast crossover (o) : Display crossover signals (circles) between fast line and slow line.
Display bear / bull fighting (x) : Display fighting signals (crosses) between bull and bears.
VISUALIZATIONS :
This indicator has 3 possible complementary visualizations:
Candle labels : The labels on top are the percentage of the bears on the candle, while the labels on the bottom are the percentage of the bulls on the candle. When the bulls are winning the labels are blue, when the bears are winning the labels are red, silver otherwise.
Box after last candle : The blue and red boxes after the last candle are the percentage of bears and bulls on the last candle of the chart. That boxes can be disabled in the settings if you feel it is redundant with the labels.
Signals : The signals are displayed at the bottom of the main area of trading. The orange โxโ represents an area where bulls and bears are fighting hard. The blue โoโ represents a buy signal (fast line crosses over the slow line) and the red โoโ represents a sell sinal (fast line crosses under the slow line).
USAGE :
The most important rule in the usage of this indicator is :
โThe higher the current bull power is (or bear power), the higher the chances are the next candle will also be bullish (or bearish).โ
When the prices is increasing, it is very interesting to follow the bull power to verify that it is either stable or increasing. If the bull power keeps decreasing candle after candle, there is chances that in the next candles there will be a reversal.
When there is orange crosses in the signal area (bottom of the screen), it means that there is a big fight between bulls and bears and that the current price of the asset is probably stable. During these fighting areas, reversals are more likely to happen.
When there is a blue circle in the signal area (or red signal), it can be considered as a buy signal (or sell signal). These signals are determined by the crossover of the fast and slow lines of the total power of the bulls plus the bears.
LIMITATIONS :
As Pine script only allows to display about 50 drawings on the chart, the labels on the candles can not be printed on all the historical candles. The option โDisplay oppositesโ could be useful to hide unnecessary labels and then be able to display more older labels.
As the Elder ray indicator uses an average price (EMA 13 of closing price), the indicator may be lagging in some situations, but most of the time it will help to filter the bad signals contrary to the indicators that are too reactive.
Agisko Crypto Scalper v4.2 (BUY/SELL)Indicator that generates BUY and SELL shapes with alerts.
OSC scale can be configured to visualize the oscillator better. Nothing required, just for visualization.
DMI mark is by default 10 which is fine for most situations.
DMI range is the buffer zone where BUY orders will be created. E.g.: DMI mark 10 and DMI range 1 will create a zone for BUY when DMI+ is between 9 and 11 (10-1 and 10+1).
This works perfect on the 5 minute chart and is suggested to use the SELL alert for exits or use a take profit (TP) of 1% with optional trailing if you use bots like 3 commas.
Stoploss is the same. Use the SELL alert or set a manual stoploss of 2-5%.
Recent Trades - Real-Time Volume AnalysisRecent Trades - Real-Time Volume Analysis ๐
Another orderflow tool to add to the arsenal.
It works with trading pairs with volume data (i.e. it doesn't work for price indexes).
It is independent of the chart timeframe.
The interval can be set to a value between 1 to 1440 minutes (check settings).
It is possible to choose a different symbol than the one on the current chart (check settings).
This makes it easy to analyze multiple pairs at once .
โโโโ โโโโ โโโโ Volume Chart
The Volume Chart shows the last 100 trades.
The chart scale can be either standard or zero-centred, and it can be compact or take the whole main chart area.
โโโโ โโโโ โโโโ Trades Counter
The Trades Counter shows the Ratio of Buys and Sells for the chosen interval.
The % Percentage value for Buys & Sells, the trades Size and their number are also shown.
โโโโ โโโโ โโโโ Trades Feed
The Trades Feed can show up to 50 recent trades (check settings).
The Trades can be filtered by min & max limits.
Set min & max values and type of trade to filter the Large Trades. They can be highlighted in the feed.
The Trades Feed colours may not work on some OSystems (e.g. Mac). It can be fixed in settings.
โโโโโช Available trade info:
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- elapsed Time since the trade was recorded
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Price at which the trade was executed
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Size of the trade
โโโโโช Various Metrics are available at the bottom:
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Chosen Interval
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Chosen Symbol (Exchange & Pair)
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- CVD direction
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Volume Delta amount
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Buys & Sells Ratio
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Total Trades and their Speed
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Total Volume and its Speed
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Number of Significant Trades, their % Percentage and their Speed
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Total Significant Volume, its % Percentage and its Speed
โโโโโช The Numbers are formatted for better reading.
โโโโโช Alerts:
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- CVD direction change (โ ๏ธthis can trigger too often)
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Ratio level +/-
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Buy Volume - % Percent
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Sell Volume - % Percent
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- New Trade (โ ๏ธthis can trigger too often if the volume is not filtered)
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Trades - Speed Limit
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Volume - Speed Limit
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- New Large Trade
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Large Trades - Speed Limit
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Large Volume - Speed Limit
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Large Trades - % Percent
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Large Volume - % Percent
โโโโโช โ ๏ธSome metrics can have abnormal values at the start of the interval.
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ To avoid triggering alerts in such conditions, set the number of seconds to wait before checking whether they should fire.
โโโโโช Note:
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Initially, the Recent Trades panel is positioned to the far right of the chart, so it may be hidden in the future. Drag the chart to the left to reveal it.
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- The panel Position can be adjusted in settings.
โโโโโช Related Studies:
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Volume Delta
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- CumulativeVolumeDelta-CVD
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Counters Ratio
โโโโ โโโโ โโโโ โโโโ โโโโ โโโโ- Heatmap-Support-Resistance-Volume-Clusters
โโโโโช Some layout examples:
Phรกt Support and resistant This indicator provides basicSupport and Resistance Levels to the user whilst displaying Break signal tags. It also has the ability to let the user display more significant breaks
Only more significant breaks of these basic levels are displayed to the user when optimized which avoids noise and messy signals.
It will also display breaks with candles it deems to be bullish (e.g. having a longer upper or lower wick).
Notation
The notation of "Buy/Sell" denotes a break of either a Support or Resistance level with a volume greater than the threshold.
The notation of "Buy breakout/sellbrekout" denotes a bullish or bearish candle on the break.
Usage & Details:
Knowing when S/R level is broken with significance can be of great help to a trader. Many times significant levels may not be broken with significant force and the move is therefore weaker and possibly not worth trading.
Buy_Sell_Pressure_v0.62This is a script that I've been using for some time, which covers Volume for me.
It shows the total volumes in typical Column format, however this script attempts to suss out the details of WHERE that volume went (buying or selling), how EFFECTIVE that volume was at moving the price, and finally a COMPARISON of Buy vs. Sell volume MA's showing us the average buying and selling pressure over time, to assist us with determining the timing of a reversal.
The oscillator portion shows us the Volume Columns and the MA's with shadow or offset MA's to detect reversals and crossovers of self, and on the bar/candle chart the bars are colored according to which volume is more dominant at that time.
Alert conditions are available for the following events:
- Buying Crosses over Selling (Bar Color Change)
- Selling Crosses over Buying (Bar Color Change)
- Sell Pressure Cross Up / Down (Single MA Direction Change)
- Buy Pressure Cross Up/ Down (Single MA Direction Change)
Precise_SignalThis signal combines a portion of Chris Moody's 2014 SlingShot and my 2017 MTF Indicators. Both of our prior scripts over indicated Buy and Sell Points. This signal indicates a buy or sell point much less than our prior scripts did but with absolute precision.
I would say it is 100% accurate, but that is because I am yet to find a timeframe and symbol where the Buy signal failed to see the equity move up or the Sell signal failed to see the equity move down over the next 5 bars. I have tested 2000 charts so far. To be safe, I would rather state this indicator is accurate nearly 100% of the time.
The indicator is made up of 2 main portions and both of them have to agree on a buy or sell in order to indicate such with a vertical green or maroon bar beneath the chart. If there is a failure to agree, nothing is signaled.
Indicator 1 combines a stochastic of a 3 hour chart and a daily chart to determine when the stochastics are in agreement on direction. When there is agreement, both of them MUST cross from a buy state to a sell state and vice versa at exactly the same time. This is difficult to achieve and it is already rare for this occurrence to produce a signal. When a signal is produce it is combine with Chris Moody's 2014 SlingShot Indicator which conservatively determines Buy and Sell signals based on EMAs and market direction. Signals from his SlingShot are infrequent.
BUY Signal
When my MTF signals Buy at the same time that the SlingShot signals a Buy, a vertical green bar will appear in the window containing this script. The vertical bar is based on the close price of the equity and is only final when the close price is final. A BUY signal means the equity will move up potentially as early as the next bar and achieve a higher value from the close price on the signal bar.
SELL Signal
Likewise, a sell signal from the MTF at the same time as a sell signal from the SlingShot will create a maroon bar in the window containing this script. The vertical bar is based on the close price of the equity and is only final when the close price is final. A SELL signal means the equity will move down potentially as early as the next bar and achieve a lower value from the close price on the signal bar.
The default values for this script are hard-coded into this script. You can edit any of the value you would like to play with other timeframes, stochastic, and moving average lengths.
I have played with these values and have hard-coded the ones that are most accurate. Please let me know if you find others that work.
Hopefully this becomes an extra tool in your technical trading toolkit.
Trend Chaser Pro Trend Chaser Pro( TCP ) is a powerful indicator that is made using several years of experience in trading and coding with a lot of backtesting. it can be used as a Stand-Alone indicator as well as in combination with other indicators to provide more confluence when trading. The main purpose of TCP is to help market participants by providing buy and sell signals as well as indication of Tops and Bottoms in any trading market.
- There are 3 main components to TCP :
1.Top/Bottom Indicators:
Tops are indicated with "โ". There are two colours that are used. light red for Tops and dark red for Max Tops
Bottoms are indicated with "โฆ". There are also two colours that are used to demonstrate Bottom conditions. light green indicates Bottoms and dark green indicates Max Bottoms
2. Buy/Sell indicator:
Buy signals are indicated with a green "โ" and Sell signals are indicated with a red "โ" using price volatilities with
calculation of price movement in trending and ranging environments .
3.Bars colour
for a clearer visualisation of Buy/Sell indicator signals , colour of bars change from light blue to orange and vice versa.
light blue bar colour is an indication of uptrend and provides buy signal
orange bar colour is an indication of downtrend and provides sell signal
p.s. Period can be changed to have more aggressive (if decreasing the number) or more conservative( if increasing the number) signals.
(*please always remember that past performance of this indicator is not an indication of its future performance and you always need to do your own research before taking action in financial markets*)
(** PM to request access**)
Zeta ScalperWhat is Scalping?
Scalping is a trading strategy aimed at profiting from quick momentum in a volatile index or stock.
Traders who use such strategies place anywhere from 10 to a few hundred trades in a single day.
The idea behind such type of trading is that small moves in an index or stock price are much easier to capture than the larger moves.
Traders who use such strategies are known as scalpers. When you take many small profits a number of times, say 10 points scalped 20 times per day, they can easily add up to large gains.
An Option Buyer's Biggest Enemy is Time Decay and when you scalp, you do not allow the time decay to eat your Option Premium as your Entry and Exit is often quick enough.
What is Zeta Scalper?
Zeta Scalper indicator is a momentum based indicator which tries to detect momentum based upon a number of Candle Stick Patterns.
When it thinks a move has the potential to turn into a big move, it generated its Buy/Sell Signals.
It is a well known fact that actual drivers of the market are Big Institutions, Mutual Funds & Big Guys with deep pockets.
They have large amounts of money to invest and they buy & sell in bulk.
When they buy, often their objective is to buy at lower levels (below average price of the day) & when they sell they sell at higher levels (above average price of the day).
Zeta Scalper seeks to detect this activity. When aggressive buying or selling starts where Buying & Selling Forces become unequal, the Price starts moving in one direction with candles making Higher Highs or Lower Lows.
Zeta Scalper detects these Higher Highs or Lower Lows and generates Buy or Sell signals when this happens.
In order to use this indicator, simply deploy this on your chart, and wait for Buy/Sell signals.
It works on all time frames including 1 min. 3min. 5min. & 10min. etc.
When a Buy Signal is followed by Sell signal (let it be after 3 - 4 candles or after many candles) or vice-versa, you have to switch your position to make most of the reverse move.
It is a general purpose indicator and may be used on stocks, commodities and currencies alike and is not meant for any specific market.
How to Take Buy/Sell Entry with Zeta Scalper?
Whenever you see a Buy Signal, mark its closing price with a horizontal line and as soon as a candle breaks this candle's High, it is time for you to take Entry.
Your STOP LOSS could be just 0.5% below your Entry Price, hence, no big loss even if things go wrong.
Keep moving your STOP LOSS up as the price moves in your favour and when market turns around and you see a SELL signal, it is time to book your BUY position profit and take Entry on SELL Side now and so on.
How to get this indicator?
This is invite-only indicator. Get in touch with us using information given below in Signature field to try this tool FREE.
Cryptowale - LynxWhat is Lynx?
Lynx is trend following centered oscillator, which accurately tells when to buy and when to sell, where to book partial profits, and when to rebuy for continuation trades.
Signals
BUY: this indicates to buy
SELL: this indicates to sell
CL: this indicates Continuation trade for BUY, in simple words BUY
CS: this indicates Continuation trade for Sell, in simple words SELL
TP: this indicates to take profit
Strategy
Use this indicator on higher timeframes only(above 4 hour charts)
Always wait for confirmation of signal. Signal confirms on candle close. You can filter signals with baseline in Lynx settings.
Buy and Sell CONFIRMATION ENTRY"Buy and Sell CONFIRMATION ENTRY" Product Description:
The indicator identifies market trends with visual buy/sell alerts on the chart.
Useful on higher timeframes available on Tradingview (ex: 4 hours, 1 Day).
The "Buy and Sell Confirmation" Indicator combines Moving Average Convergence Divergence and Relative Strength Index, which triggers technical signals when it crosses above (to buy) or below (to sell) its signal line. The crossovers transformed in buy and sell indicators is also taken as a signal of a market is overbought or oversold. The swing lines help you draw Elliott Waves to understand better where the market is heading.
The indicator can be used for every type of market: indices, stocks, cryptocurrencies, currencies and others.
This study is not a guarantee profit. You should backtest or trade virtual money before using this study on your real portfolio, as it is intended to be a tool and not a fortune teller.
Disclaimer: Trading and investing in the stock market and cryptocurrencies involves substantial risk of loss and is not suitable for every investor. The content covered in this videos is NOT to be considered as investment advice. Iโm NOT a financial adviser. All trading strategies are used at your own risk.
Please send me a private message on TradingView to gain access to the script.
Volume strength with Accumulation Distribution in Cycle of understanding psychology behind candle formation, i posted my script which is intended to determine the buying and selling pressure with candle wicks.
Idea behind wicks was although buyer and seller tried to make price high and low but it did not sustain indicating weakness in strength.
in this script i have tried to see the volume along with candle formation and structure. i tried to measure and derive volume information with body length of candle. Also plotted Williams Accumulation distribution to understand real trend ( Demand( Accumulation ) vs Supply ( Distribution ) )
Once can see difference in Usual volume indicator and information derived from this custom indicator with combination of WAD.
McMillan Volatility Bands w/ Buy & Sell Signals [optstrategist]BACKGROUND
McMillan Volatility Bands are an alternative approach to John Bollinger's "Bollinger Band" study and developed by world-renowned options trader and author Lawrence G. McMillan. Given his background in options trading, it was natural for Lawrence to approach any volatility-based study in the same manner options are priced --using Black-Scholes model. This model of pricing assumes a financial asset's volatility should be measured in percentage change rather than absolute value change.
OVERVIEW
The McMillan Volatility Bands indicator for TradingView will plot the 3 and 4-standard deviation bands around a 20-day moving average. This is how Larry has always used this system. The user can, however, change the standard deviation value as well as the moving average length to their preferred setting. This indicator can be used on any asset and on any timeframe.
Furthermore, the indicator will plot buy and sell signals based on a trading system used by Larry in his flagship newsletter publication The Daily Strategist. The system gives a signal when price closes outside the 4-sigma band and then closes back within the 3-sigma band. That 'signal bar' will be colored red or green for a sell or buy signal setup, respectively.
Finally, an arrow will be plotted on the chart where the system would actually enter the trade. This is determined when price trades a little beyond the extreme of the 'signal bar'. The level by which price has to go beyond the 'signal bar' is an input parameter and can be adjusted by the user. We've chosen the default value of 0.34. This means, the indicator will not give a buy or sell entry until the price moves: 1/3 x beyond the extreme signal bar. This is to prevent getting whipsawed by some setups that never really move in your favor. We've found it successfully removes the less-valuable trade setups.
PARAMETERS
ma_length => length of the moving average that the volatility bands work off of
outside_sigma => standard deviation of outer volatility band
inside_sigma => standard deviation of inner volatility band
entry_trigger_cushion => this refers to the percentage of the signal bar's range. The default value is 0.34. This means price will need to move 1/3 (~34%) of the signal bar's range beyond the high (for a buy) or low (for a sell) of the signal bar to trigger a buy/sell entry. This entry plots the arrow on the chart. We have found requiring this extra move in price eliminates many of the less-desirable signals at the expense of entering the better signals a little later.
WANT TO PURCHASE OR NEED MORE INFORMATION ON McMILLAN VOLATILITY BANDS?
Visit the link below to see purchasing options as well as screenshots of the indicator and how we trade it at McMillan Analysis Corp.
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sแดแดแดแดสโขTradeChartist Trendsetter is an elegantly designed functional indicator that helps spot price trends based on user input and volatility to generate high probability BUY and SELL signals.
1. What does โขTradeChartist Trendsetter do?
Plots high probability BUY/SELL signals based on user input and price volatility.
Plots recommended Stop Loss and SOS signals.
Plots regular RSI divergences based on user input.
Plots Linear Regression trend lines based on user input.
Displays Trendsetter Dashboard with useful trade information.
Displays real time gains tracker.
Tracks another symbol on Dashboard based on user input.
Alerts when BUY and SELL signals are generated.
2. What markets can this indicator be used on?
Forex
Stocks - Signal prices calculated taking gaps into account.
Commodities
Cryptocurrencies
and almost any asset on Trading View.
Works really well when there is good volume, volatility or both in the asset traded/observed.
3. Do the indicator signals repaint?
No. Once the BUY and SELL signals are generated with entry price (open price of signal candle), there is no repainting.
This can be verified using Trading View Bar Replay to check if the signals stay in the same candle in real-time as the Bar Replay.
4. Does the indicator send alerts when a signal is generated?
Yes. Traders can get alerts by setting up Trading View alerts for BUY/SELL signals. For confirmed BUY/SELL alerts, 'Once Per Bar' must be used as there is no need to wait for the candle close.
Example Charts
GBP-USD 1hr chart with indicator plots description
GOLD 4hr chart using Daily HTF resolution from indicator settings.
SPX 15m chart using Daily HTF resolution with RSI divergences.
Note: Default settings work really well for most assets and time frames. Change HTF resolution (default 4hr) from indicator settings and make sure it is higher time frame than the chart resolution.
Delta Volume Columns Pro [LucF]โโ OVERVIEW
This indicator displays volumeโโ delta information calculated with intrabar inspection on historical bars, and feed updates when running in realtime. It is designed to run in a pane and can display either stacked buy/sell volumeโ columns or a signal line which can be calculated and displayed in many different ways.
Five different models are offered to reveal different characteristics of the calculated volumeโ delta information. Many options are offered to visualize the calculations, giving you much leeway in morphing the indicator's visuals to suit your needs. If you value delta volumeโ information, I hope you will find the time required to master Delta Volumeโ Columns Pro well worth the investment. I am confident that if you combine a proper understanding of the indicator's information with an intimate knowledge of the volumeโ idiosyncrasies on the markets you trade, you can extract useful market intelligence using this tool.
โโ WARNINGS
1. The indicator only works on markets where volumeโ information is available,
โโPlease validate that your symbol's feed carries volumeโ information before asking me why the indicator doesn't plot values.
2. When you refresh your chart or re-execute the script on the chart, the indicator will repaint because elapsed realtime bars will then recalculate as historical bars.
3. Because the indicator uses different modes of calculation on historical and realtime bars, it's critical that you understand the differences between them. Details are provided further down.
4. Calculations using intrabar inspection on historical bars can only be done from some chart timeframes. See further down for a list of supported timeframes.
โโIf the chart's timeframe is not supported, no historical volumeโ delta will display.
โโ CONCEPTS
Chart bars
Three different types of bars are used in charts:
โ1. Historical bars are bars that have already closed when the script executes on them.
โ2. The realtime bar is the current, incomplete bar where a script is running on an open market. There is only one active realtime bar on your chart at any given time.
โโโThe realtime bar is where alerts trigger.
โ3. Elapsed realtime bars are bars that were calculated when they were realtime bars but have since closed.
โโโWhen a script re-executes on a chart because the browser tab is refreshed or some of its inputs are changed, elapsed realtime bars are recalculated as historical bars.
Why does this indicator use two modes of calculation?
Historical bars on TradingView charts contain OHLCV data only, which is insufficient to calculate volumeโ delta on them with any level of precision. To mine more detailed information from those bars we look at intrabars , i.e., bars from a smaller timeframe (we call it the intrabar timeframe ) that are contained in one chart bar. If your chart Is running at 1D on a 24x7 market for example, most 1D chart bars will contain 24 underlying 1H bars in their dilation. On historical bars, this indicator looks at those intrabars to amass volumeโ delta information. If the intrabar is up, its volumeโ goes in the Buy bin, and inversely for the Sell bin. When price does not move on an intrabar, the polarity of the last known movement is used to determine in which bin its volumeโ goes.
In realtime, we have access to price and volumeโ change for each update of the chart. Because a 1D chart bar can be updated tens of thousands of times during the day, volumeโ delta calculations on those updates is much more precise. This precision, however, comes at a price:
โโ The script must be running on the chart for it to keep calculating in realtime.
โโ If you refresh your chart you will lose all accumulated realtime calculations on elapsed realtime bars, and the realtime bar.
โโElapsed realtime bars will recalculate as historical bars, i.e., using intrabar inspection, and the realtime bar's calculations will reset.
โโWhen the script recalculates elapsed realtime bars as historical bars, the values on those bars will change, which means the script repaints in those conditions.
โโ When the indicator first calculates on a chart containing an incomplete realtime bar, it will count ALL the existing volumeโ on the bar as Buy or Sell volumeโ,
โโdepending on the polarity of the bar at that point. This will skew calculations for that first bar. Scripts have no access to the history of a realtime bar's previous updates,
โโand intrabar inspection cannot be used on realtime bars, so this is the only to go about this.
โโ Even if alerts only trigger upon confirmation of their conditions after the realtime bar closes, they are repainting alerts
โโbecause they would perhaps not have calculated the same way using intrabar inspection.
โโ On markets like stocks that often have different EODโ and intraday feeds and volumeโ information,
โโthe volume's scale may not be the same for the realtime bar if your chart is at 1D, for example,
โโand the indicator is using an intraday timeframe to calculate on historical bars.
โโ Any chart timeframe can be used in realtime mode, but plots that include moving averages in their calculations may require many elapsed realtime bars before they can calculate.
โโYou might prefer drastically reducing the periods of the moving averages, or using the volumeโ columns mode, which displays instant values, instead of the line.
Volume Delta Balances
This indicator uses a variety of methods to evaluate five volumeโ delta balances and derive other values from those balances. The five balances are:
1 โ On Bar Balance : This is the only balance using instant values; it is simply the subtraction of the Sell volumeโ from the Buy volumeโ on the bar.
2 โ Average Balance : Calculates a distinct EMA for both the Buy and Sell volumes, and subtracts the Sell EMA from the Buy EMA.
3 โ Momentum Balance : Starts by calculating, separately for both Buy and Sell volumes, the difference between the same EMAs used in "Average Balance" and
โโan SMA of double the period used for the "Average Balance" EMAs. The difference for the Sell side is subtracted from the difference for the Buy side,
โโand an RSI of that value is calculated and brought over the โ50/+50 scale.
4 โ Relative Balance : The reference values used in the calculation are the Buy and Sell EMAs used in the "Average Balance".
โโFrom those, we calculate two intermediate values using how much the instant Buy and Sell volumes on the bar exceed their respective EMAโโโbut with a twist.
โโIf the bar's Buy volumeโ does not exceed the EMA of Buy volumeโ, a zero value is used. The same goes for the Sell volumeโ with the EMA of Sell volumeโ.
โโOnce we have our two intermediate values for the Buy and Sell volumes exceeding their respective MA, we subtract them. The final "Relative Balance" value is an ALMA of that subtraction.
โโThe rationale behind using zero values when the bar's Buy/Sell volumeโ does not exceed its EMA is to only take into account the more significant volumeโ.
โโIf both instant volumeโ values exceed their MA, then the difference between the two is the signal's value.
โโThe signal is called "relative" because the intermediate values are the difference between the instant Buy/Sell volumes and their respective MA.
โโThis balance flatlines when the bar's Buy/Sell volumes do not exceed their EMAs, which makes it useful to spot areas where trader interest dwindles, such as consolidations.
โโThe smaller the period of the final value's ALMA, the more easily you will see the balance flatline. These flat zones should be considered no-trade zones.
5 โ Percent Balance : This balance is the ALMA of the ratio of the "On Bar Balance" value, i.e., the volumeโ delta balance on the bar (which can be positive or negative),
โโover the total volume for that bar.
From the balances and marker conditions, two more values are calculated:
1 โ Marker Bias : It sums the up/down (+1/โ1) occurrences of the markers 1 to 4 over a period you define, so it ranges from โ4 to +4, times the period.
โโIts calculation will depend on the modes used to calculate markers 3 and 4.
2 โ Combined Balances : This is the sum of the bull/bear (+1/โ1) states of each of the five balances, so it ranges from โ5 to +5.
โโ FEATURES
The indicator has two main modes of operation: Columns and Line .
Columns
โข In Columns mode you can display stacked Buy/Sell volumeโ columns.
โข The buy section always appears above the centerline, the sell section below.
โข The top and bottom sections can be colored independently using eight different methods.
โข The EMAs of the Buy/Sell values can be displayed (these are the same EMAs used to calculate the "Average Balance").
Line
โข Displays one of seven signals: the five balances or one of two complementary values, i.e., the "Marker Bias" or the "Combined Balances".
โข You can color the line and its fill using independent calculation modes to pack more information in the display.
โYou can thus appraise the state of 3 different values using the line itself, its color and the color of its fill.
โข A "Divergence Levels" feature will use the line to automatically draw expanding levels on divergence events.
Default settings
Using the indicator's default settings, this is the information displayed:
โข The line is calculated on the "Average Balance".
โข The line's color is determined by the bull/bear state of the "Percent Balance".
โข The line's fill gradient is determined by the advances/declines of the "Momentum Balance".
โข The orange divergence dots are calculated using discrepancies between the polarity of the "On Bar Balance" and the chart's bar.
โข The divergence levels are determined using the line's level when a divergence occurs.
โข The background's fill gradient is calculated on advances/declines of the "Marker Bias".
โข The chart bars are colored using advances/declines of the "Relative Balance". Divergences are shown in orange.
โข The intrabar timeframe is automatically determined from the chart's timeframe so that a minimum of 50 intrabars are used to calculate volumeโ delta on historical bars.
Alerts
The configuration of the marker conditions explained further is what determines the conditions that will trigger alerts created from this script. Note that simply selecting the display of markers does not create alerts. To create an alert on this script, you must use ALT-A from the chart. You can create multiple alerts triggering on different conditions from this same script; simply configure the markers so they define the trigger conditions for each alert before creating the alert. The configuration of the script's inputs is saved with the alert, so from then on you can change them without affecting the alert. Alert messages will mention the marker(s) that triggered the specific alert event. Keep in mind, when creating alerts on small chart timeframes, that discrepancies between alert triggers and markers displayed on your chart are to be expected. This is because the alert and your chart are running two distinct instances of the indicator on different servers and different feeds. Also keep in mind that while alerts only trigger on confirmed conditions, they are calculated using realtime calculation mode, which entails that if you refresh your chart and elapsed realtime bars recalculate as historical bars using intrabar inspection, markers will not appear in the same places they appeared in realtime. So it's important to understand that even though the alert conditions are confirmed when they trigger, these alerts will repaint.
Let's go through the sections of the script's inputs.
Columns
The size of the Buy/Sell columns always represents their respective importance on the bar, but the coloring mode for tops and bottoms is independent. The default setup uses a standard coloring mode where the Buy/Sell columns are always in the bull/bear color with a higher intensity for the winning side. Seven other coloring modes allow you to pack more information in the columns. When choosing to color the top columns using a bull/bear gradient on "Average Balance", for example, you will have bull/bear colored tops. In order for the color of the bottom columns to continue to show the instant bar balance, you can then choose the "On Bar Balance โ Dual Solid Colors" coloring mode to make those bars the color of the winning side for that bar. You can display the averages of the Buy and Sell columns. If you do, its coloring is controlled through the "Line" and "Line fill" sections below.
Line and Line fill
You can select the calculation mode and the thickness of the line, and independent calculations to determine the line's color and fill.
Zero Line
The zero line can display dots when all five balances are bull/bear.
Divergences
You first select the detection mode. Divergences occur whenever the up/down direction of the signal does not match the up/down polarity of the bar. Divergences are used in three components of the indicator's visuals: the orange dot, colored chart bars, and to calculate the divergence levels on the line. The divergence levels are dynamic levels that automatically build from the line's values on divergence events. On consecutive divergences, the levels will expand, creating a channel. This implementation of the divergence levels corresponds to my view that divergences indicate anomalies, hesitations, points of uncertainty if you will. It precludes any attempt to identify a directional bias to divergences. Accordingly, the levels merely take note of divergence events and mark those points in time with levels. Traders then have a reference point from which they can evaluate further movement. The bull/bear/neutral colors used to plot the levels are also congruent with this view in that they are determined by the line's position relative to the levels, which is how I think divergences can be put to the most effective use. One of the coloring modes for the line's fill uses advances/declines in the line after divergence events.
Background
The background can show a bull/bear gradient on six different calculations. As with other gradients, you can adjust its brightness to make its importance proportional to how you use it in your analysis.
Chart bars
Chart bars can be colored using seven different methods. You have the option of emptying the body of bars where volumeโ does not increase, as does my TLD indicator, and you can choose whether you want to show divergences.
Intrabar Timeframe
This is the intrabar timeframe that will be used to calculate volumeโ delta using intrabar inspection on historical bars. You can choose between four modes. The three "Auto-steps" modes calculate, from the chart's timeframe, the intrabar timeframe where the said number of intrabars will make up the dilation of chart bars. Adjustments are made for non-24x7 markets. "Fixed" mode allows you to select the intrabar timeframe you want. Checking the "Show TF" box will display in the lower-right corner the intrabar timeframe used at any given moment. The proper selection of the intrabar timeframe is important. It must achieve maximal granularity to produce precise results while not unduly slowing down calculations, or worse, causing runtime errors. Note that historical depth will vary with the intrabar timeframe. The smaller the timeframe, the shallower historical plots you will be.
Markers
Markers appear when the required condition has been confirmed on a closed bar. The configuration of the markers when you create an alert is what determines when the alert will trigger. Five markers are available:
โข Balances Agreement : All five balances are either bullishโ or bearishโ.
โข Double Bumps : A double bump is two consecutive up/down bars with +/โ volumeโโ delta, and rising Buy/Sell volumeโ above its average.
โข Divergence confirmations : A divergence is confirmed up/down when the chosen balance is up/down on the previous bar when that bar was down/up, and this bar is up/down.
โข Balance Shifts : These are bull/bear transitions of the selected signal.
โข Marker Bias Shifts : Marker bias shifts occur when it crosses into bull/bear territory.
Periods
Allows control over the periods of the different moving averages used to calculate the balances.
Volumeโ Discrepancies
Stock exchanges do not report the same volumeโ for intraday and daily (or higher) resolutions. Other variations in how volumeโ information is reported can also occur in other markets, namely Forex, where volumeโ irregularities can even occur between different intraday timeframes. This will cause discrepancies between the total volumeโ on the bar at the chart's timeframe, and the total volumeโโ calculated by adding the volumeโโ of the intrabars in that bar's dilation. This does not necessarily invalidate the volumeโโ delta information calculated from intrabars, but it tells us that we are using partial volumeโ data. A mechanism to detect chart vs intrabar timeframe volumeโโ discrepancies is provided. It allows you to define a threshold percentage above which the background will indicate a difference has been detected.
Other Settings
You can control here the display of the gray dot reminder on realtime bars, and the display of error messages if you are using a chart timeframe that is not greater than the fixed intrabar timeframe, when you use that mode. Disabling the message can be useful if you only use realtime mode at chart timeframes that do not support intrabar inspection.
โโ RAMBLINGS
On Volumeโ Delta
Volumeโ is arguably the best complement to interpret price action, and I consider volumeโ delta to be the most effective way of processing volumeโ information. In periods of low-volatility price consolidations, volumeโ will typically also be lower than normal, but slight imbalances in the trend of the buy/sell volumeโ balance can sometimes help put early odds on the direction of the break from consolidation. Additionally, the progression of the volumeโ imbalance can help determine the proximity of the breakout. I also find volumeโ delta and the number of divergences very useful to evaluate the strength of trends. In trends, I am looking for "slow and steady", i.e., relatively low volatilityโ and pauses where price action doesn't look like world affairs are being reassessed. In my personal mythology, this type of trend is often more resilient than high-volatility breakouts, especially when volumeโ balance confirms the general agreement of traders signaled by the low-volatility usually accompanying this type of trend. The volumeโ action on pauses will often help me decide between aggressively taking profits, tightening a stop or going for a longer-term movement. As for reversals, they generally occur in high-volatility areas where entering trades is more expensive and riskier. While the identification of counter-trend reversals fascinates many traders to no end, they represent poor opportunities in my view. Volumeโ imbalances often precede reversals, but I prefer to use volumeโ delta information to identify the areas following reversals where I can confirm them and make relatively low-cost entries with better odds.
On "Buy/Sell" Volume
Buying or selling volumeโ are misnomers, as every unit of volumeโ transacted is both bought and sold by two different traders. While this does not keep me from using the terms, there is no such thing as โbuy onlyโ or โsell onlyโ volumeโ. Trader lingo is riddled with peculiarities.
Divergences
The divergence detection method used here relies on a difference between the direction of a signal and the polarity (up/down) of a chart bar. When using the default "On Bar Balance" to detect divergences, however, only the bar's volumeโ delta is used. You may wonder how there can be divergences between buying/selling volumeโ information and price movement on one bar. This will sometimes be due to the calculation's shortcomings, but divergences may also occur in instances where because of order book structure, it takes less volumeโ to increase the price of an asset than it takes to decrease it. As usual, divergences are points of interest because they reveal imbalances, which may or may not become turning points. To your pattern-hungry brain, the divergences displayed by this indicator willโโโas they do on other indicatorsโโโappear to often indicate turnarounds. My opinion is that reality is generally quite sobering and I have no reliable information that would tend to prove otherwise. Exercise caution when using them. Consequently, I do not share the overwhelming enthusiasm of traders in identifying bullishโ/bearishโ divergences. For me, the best course of action when a divergence occurs is to wait and see what happens from there. That is the rationale underlying how my divergence levels work; they take note of a signal's level when a divergence occurs, and it's the signal's behavior from that point on that determines if the post-divergence action is bullishโ/bearishโ.
Superfluity
In "The Bed of Procrustes", Nassim Nicholas Taleb writes: To bankrupt a fool, give him information . This indicator can display lots of information. While learning to use a new indicator inevitably requires an adaptation period where we put it through its paces and try out all its options, once you have become used to it and decide to adopt it, rigorously eliminate the components you don't use and configure the remaining ones so their visual prominence reflects their relative importance in your analysis. I tried to provide flexible options for traders to control this indicator's visuals for that exact reasonโโโnot for window dressing.
โโ LIMITATIONS
โข This script uses a special characteristic of the `security()` function allowing the inspection of intrabarsโโโwhich is not officially supported by TradingView.
โIt has the advantage of permitting a more robust calculation of volumeโ delta than other methods on historical bars, but also has its limits.
โข Intrabar inspection only works on some chart timeframes: 3, 5, 10, 15 and 30 minutes, 1, 2, 3, 4, 6, and 12 hours, 1 day, 1 week and 1 month.
โThe scriptโs code can be modified to run on other resolutions.
โข When the difference between the chartโs timeframe and the intrabar timeframe is too great, runtime errors will occur. The Auto-Steps selection mechanisms should avoid this.
โข All volumeโ is not created equally. Its source, components, quality and reliability will vary considerably with sectors and instruments.
โThe higher the quality, the more reliably volumeโ delta information can be used to guide your decisions.
โYou should make it your responsibility to understand the volumeโ information provided in the data feeds you use. It will help you make the most of volumeโ delta.
โโ NOTES
For traders
โข The Data Window shows key values for the indicator.
โข While this indicator displays some of the same information calculated in my DeltaโVolumeโColumns ,
โI have elected to make it a separate publication so that traders continue to have a simpler alternative available to them. Both code bases will continue to evolve separately.
โข All gradients used in this indicator determine their brightness intensities using advances/declines in the signalโnot their relative position in a pre-determined scale.
โข Volumeโ delta being relative, by nature, it is particularly well-suited to Forex markets, as it filters out quite elegantly the cyclical volumeโ data characterizing the sector.
If you are interested in volumeโ delta, consider having a look at my other "Delta Volume" indicators:
โข DeltaโVolumeโRealtimeโAction displays realtime volumeโ delta and tick information on the chart.
โข DeltaโVolumeโCandles builds volumeโโ delta candles on the chart.
โข DeltaโVolumeโColumns is a simpler version of this indicator.
For coders
โข I use the `f_c_gradientRelativePro()` from the PineCoders Color Gradient Framework to build my gradients.
โThis function has the advantage of allowing begin/end colors for both the bull and bear colors. It also allows us to define the number of steps allowed for each gradient.
โI use this to modulate the gradients so they perform optimally on the combination of the signal used to calculate advances/declines,
โbut also the nature of the visual component the gradient applies to. I use fewer steps for choppy signals and when the gradient is used on discrete visual components
โsuch as volumeโ columns or chart bars.
โข I use the PineCoders Coding Conventions for Pine to write my scripts.
โข I used functions modified from the PineCoders MTF Selection Framework for the selection of timeframes.
โโ THANKS TO:
โ The devs from TradingView's Pine and other teams, and the PineCoders who collaborate with them. They are doing amazing work,
โand much of what this indicator does could not be done without their recent improvements to Pine.
โ A guy called Kuan who commented on a Backtest Rookies presentation of their Volume Profile indicator using a `for` loop.
โThis indicator started from the intrabar inspection technique illustrated in Kuan's snippet.
โ theheirophant , my partner in the exploration of the sometimes weird abysses of `security()`โs behavior at intrabar timeframes.
โ midtownsk8rguy , my brilliant companion in mining the depths of Pine graphics.
LOTUS v1.0Welcome to Lotus v1.0 by Bloom Trading!
We aimed to create a useful script that takes an all in one approach.
In version 1.0 we have included a Buy/Sell module, a colored trend candle system, a support/resistance module, HA candle overlays, Bollinger Bands , and Ichimoku Cloud .
We wanted to combine or unique modules with some of our takes on the classics to make an all encompassing indicator suite.
-Buy/Sell Module
The Buy/Sell algorithm is composed of several unique factors to help users identify the underlying trend. We spent a lot of time developing a combination of indicators to provide accurate Buy/Sell signals. When a label prints "Buy", it may be a good time to consider entering a position. The opposite goes for "Sell" labels.
-Colored Trend Candles
To find further synergy we added colored trend candles. These work great in combination with the Buy/Sell signals. At its simplest, when the candles are green the trend is bullish , and when the candles are red the trend is bearish . We find it especially useful in situations where a Buy/Sell signal prints, to look at the color of the following candle. For example, strong confluence would be, when a buy signal prints, that the following candle be green. If not, then the buy signal is weak and to proceed with caution. On the contrary, if a buy signal prints and the next candle is green, it may be a great time to consider an entry. The exact opposite applies for short/bearish conditions.
-Support/Resistance Module
To further add to our suite we added a support and resistance module. This works great in combination with our Buy/Sell signals. If a buy signal prints right before a major resistance (indicated in red), then it may be a week signal. However, if it prints right above a support(indicated in purple), it is usually a strong signal.
-HA Candle Module
Sometimes HA candles help to further identify a trend. This module toggles on/off a HA candle overlay on top of the standard Japanese Candlesticks .
-BBands
We find that just like with support and resistance lines, BBands can play well for Buy/Sell signal confluence. If a signal prints at the top of the outer BBands, it may be weak, where as if it prints at the bottom it may be strong.
This indicator suite is being actively developed to improve the experience for our users. All feedback is appreciated and if anyone has any questions feel free to message us!
-Bloom Trading
Peakestsignal Indicator - Valuetrading Indicator - Cheap Entry'sPrivate indicator.
HI BIG PLAYERS
Are you looking for the cheapest entry signal for trading?
This indicator gives the really cheaply entry signals. For buysignals you get a green background vertical line and for sellsignals you get a red background vertical line.
If you have a trend strategy and only need THE TREND for trading: believe me, this indicator give you the right signals.
Alerts are possible with the TradingView Alertsystem.
More examples of another markets:
HOT TO GET ACCESS: looking on below signature.
Kind regards
NXT2017
Vol%ChangeLike its companion study, Bar%Change , this is a visual study to hilight the change in volume by percentage. the percentages are calculated by the duration of the momentum. This study is not designed for automated trading.
The triangles show buys/sells on the basis of momentum. Buys occur below momentum, while sells occur above.
Percentages are shown in red if closing less then opening or closing less then previous closing, otherwise green.
Buying and selling changes in volume percentages are user configurable.
Bar%ChangeThis is a visual study to hilight the change is candlestick by percentage. the percentages are calculated by the duration of the momentum. This study is not designed for automated trading.
The triangles show buys/sells on the basis of momentum . Buys occur below momentum, while sells occur above.
Percentages are shown in red if closing less then opening or closing less then previous closing, otherwise green.
Buying and selling changes in candlestick percentages are user configurable.
Backtest PREMIUM Suite+ (Plug & Play)Hello traders
I. ๐ SCRIPTS ACCESS AND TRIALS ๐
1. For the trial request access, they have to be done through my website .
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. Many video tutorials explaining clearly how all our indicators work are available on our website > guides section.
4. You may also contact me directly for more information
II. ๐ Backtest PREMIUM Suite+ (Plug & Play) ๐
2.1 Forewords
This indicator is available only to our PREMIUM 12 months users. YES! I said indicator, and not strategy or backtest for an excellent reason.
We wanted to make it as generic as possible and allow anyone to connect any indicator of his/her choice in a few clicks only.
This is NOT possible (in TradingView) with a strategy/backtest, but only with an indicator - that's why we worked on recoding the whole backtest logic as an indicator.
The PRO edition does not handle any pyramiding/re-entry - as such enters only once per trend by design. This feature is reserved for our PREMIUM users.
2.2 Concept
This is an indicator that I saw on TradingView and was introduced by the @Pinecoders account on TradingView.
I inspired myself from his Backtest Engine to offer a version more adapted to my vision - The benefits of connecting yourself any indicator to our Backtest engine are amazing and huge.
The concept can't be more simple. Imagine using any indicator and connecting to a backtest system in a single click.
You may connect your Algorithm Builder also to this complete backtesting system in a single click.
What's better between paying thousands for each backtest, or connecting yourself your indicators to your backtest with a click?
That was a rhetoric question, but you can still share your answer with me if you want to :)
III. The amazing benefits of our๐&๐น๏ธ (Plug&Play) system
Issue #1 ๐ฒ A BACKTEST SYSTEM IS COSTLY ๐ฒ
Hiring a developer to code a custom indicator is costly. For a custom backtest it's even more expensive as those scripts are very often way more complicated.
Now imagine, that now that you see your idea live on a chart, you'll realize you'll have to finance another backtest system, as the one you have is not compatible with your new idea.
Solution #1 ๐ฒ๐ฒ YOU COULD BE SAVING SOME MONEY ๐ฒ๐ฒ
just because it won't be needed to hire someone else for each of your trading idea.
We will never guarantee your success on the market, but THIS I stand by it any day any hour.
You can connect any indicator or your choice by updating your indicator slightly and connecting it to our Backtest engine. We send the tutorial for doing it to all our customers.
Issue #2 ๐ IT'S TIME-CONSUMING ๐
Even if someone is doing all the coding for you, it might require days/weeks depending on your overall trading strategy/idea.
Without even counting the time for you to test/validate the work done and all the back-and-forth to fix all the issues.
Solution #2 SAVING TIME MIGHT EQUATES TO SAVING MONEY : ๐ = ๐ฒ๐ฒ๐ฒ
I wish it could be as easy as going from weeks of coding to "1 single click" :)
I did the heavy-lifting, but you'll have to make the last effort the cross the finishing line. I made it easy for you to play with it and find a configuration that makes sense to YOU and for your strategy/asset/timeframe
Issue #3 โ IT'S COMPLICATED โ
Someone did a backtest code for you, but... you can't update it because you either :
- don't know anything in programming
- ... and don't have time to learn (most of us have a job/family/...life)
- The system you have is way too specific for one of your previous idea, but can't be updated easily for your next trading ideas. I see a lot of traders nodding right now thinking "that's soooooo true !!!!"
Solution #3 ๐ WE MADE IT EASY AND FUN ๐
Our goal is to externalize the technical stuff that you don't want to take care of - so that you can finally focus on your trading and optimizing your ideas. #bold #statement
In case you're wondering, no we're not reading your mind :), but we're also traders who didn't know how to code before and had to hire external programmers to do the heavy work for us.
You can be sure that most of the frustrations (trading, technical, ...) you have/had, we had them also and that's why we created this backtest indicator.
III. ๐&๐น๏ธ
Hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
In TradingView, there is a feature called "Indicator on Indicator" meaning you can use an external indicator as a data source for another indicator.
I'm using that feature to connect any external indicator to our Backtest PREMIUM Suite+ (Plug & Play) - hence the plug and play name. Please don't make it a plug and pray :) it's supposed to help you out, not to stress you even more
Let's assume you want to connect your Algorithm Builder Multiple Trends+ to your Backtest PREMIUM Suite+
I mentioned an Algorithm Builder but you may connect any oscillator (MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillator (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
THE SKY IS (or more likely your imagination) is the limit :)
Fear no more. The Plug&Play technology allows you to connect it and use it the backtest calculations.
This is not magic, neither is sorcery, but certainly is way beyond the most awesome thing I've ever developed on TradingView (even across all brokers I know). #bolder #statement
TradingView is the best trading platform by far and I'm very grateful to offer my indicators on their website.
To connect your external indicator to ours, we're using a native TradingView feature, which is not available for all users.
It depends on your TradingView subscription plan ( More info here )
If you intend to use our Algorithm Plug&Play indicator, and/or our Backtest Plug&Play suites, then you must upgrade your TradingView account to enjoy those features.
We value our relationship with our customers seriously, and that's why we're warning you that a compatible TradingView account type is required - at least PRO+ or PREMIUM to add more than 1 Plug&Play indicator per account.
We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature
IV. ๐ Make it nice! ๐
Now we're getting right into the fun stuff.
Let's explore briefly each display option (symbolized by an ๐๏ธโ๐จ๏ธ in the Backtest UI) :
- Color Traded Background : Color the chart background is green when in a BUY trade, in red when in a SELL trade. If the Backtest is not in a trade, then the background won't be colored.
- Show Entry/Exit Markers : Displays the entries (Enter Long/Enter Short), and exits (Exit Long/Exit Short) labels.
- Show Entry Level : Displays a blue level line to easily identify the entry price of a trade.
- Show Take Profit Level : Display a purple line to visualize where the Take Profit level is (we'll explain below how to set it up).
- Show In-Trade Stops : Display the stop-loss
V. Backtesting filters
A backtest should have some filters helping the traders testing a few hypotheses. Well.... we included a ton of them.
Once again, thank you @Pinecoders for the help and support you gave me
5.1 โ Trade Direction โ
- Both: The backtest takes the BUY, and SELL trades.
- Longs only/Short only: To be used if the trader wants to take the trades in a unique direction only
5.2 โฒ๐ทPyramiding๐ทโผ
The Backtest PRO allows 1 entry per identified trend
Pyramiding has many names such as Re-entry, secondary trend, Additional entry, ...
Basically, it refers to entering multiple times in the same trend.
Maximum Number of Pyramiding Entries: Literally the max number of re-entries in the same trend.
For instance, if set to 2, then depending on the signals, you'll get at most 2 re-entries in the same trade direction.
- Position Size Multiple of Original Entry Position: Option to add X multiples of the original position size for the re-entries.
Example: Position size multiple = 2, and First entry size is $100. Then, the re-entries position sizes will be ($100 X 2 = $200).
5.3 โ โ Position sizing โ โ
- 1. % of Equity: If selected, the position size used is the input to the right of 1. % of Equity.
Example: The trader starts with a capital of 100K. After a winning trade, your total capital is $103K - for the next trade the position size will be 3% of $103K
- 2. % of Capital: If selected, the position size used is the input to the right of 2. % of Capital.
In other words, the position size will always be the same position size as calculated on the initial capital.
Example: The trader starts with a capital of 100K. After a winning trade, your total capital is $103K - for the next trade the position size will be 5% of $100K. (As 100K is the initial capital used in our dummy example)
5.4โ Entry Stops and In-Trade Stops โ
We didn't reinvent the wheel here. Any good backtest should offer an entry stop-loss and an in-trade stop-loss.
Giving only here also an example among all the use cases. For instance, the trader sets a stop-loss 2% at the time of entry on your trade, but once the trade moves in the desired direction, the trader might want a trailing stop-loss using a 4% input.
Example: A trader goes LONG on only 1 "ABC" stock evaluated $10 per share.
1) The entry-stop loss will be 2% away so set at $8
2) A candle
3) The trailing stop will activate, and move the stop-loss from the entry stop-loss level (=$8) to $8.32 (=4% move up from $8) - and so on, and so forth for each time the price moves 4% up
The entry and in-trade stop losses can absolutely be identicals. There is no universal rule, and as always you know the drill - all depends on your backtest, and trading strategy as a whole.
5.5 โ Hard Exits โ
โ ๏ธThe Backtest PRO Suite offers the hard exit on MACD only.
Our Backtest PREMIUM Suite offers 2 more indicators to invalidate your trades on :
1. MACD
2. Trend Direction
3. RSI divergence (Regular, and Hidden)
The hard exit (or invalidation) is a fundamental part of my trading method.
I explained numerous times on TradingView, our website, and social media channels why I "love" this concept so much, and how it saved my trading account numerous times from getting savagely wrecked by the market.
5.6 ๐ฒ๐ฒ Take Profit ๐ฒ๐ฒ
We only included 1 level of Take Profit so far. We'll work on adding at least one more soon.
You can set your Take Profit level based on either a:
1- Fixed value
2 - Percentage value
5.7 ๐ Date Range Filtering ๐
If enabled, the backtest only uses the data between the starting and the ending dates of the defined range.
5.8 โฑ๏ธ Hourly Range Filtering โฑ๏ธ
Please note that the hours filtering is based on the broker time - not on your chart time.
In other words, if your chart is UTC+1, but you're trading an asset from a US EAST COAST broker, then the timezone used is the UTC-4 timezone.
You'll must be wary of this when filtering and probably do a quick (but simple) calculation before setting up this option.
The easiest would be to set your chart timezone on the broker local timezone (and no math is needed).
Let's add a quick note that the hourly filter is also included in our Algorithm Builders PRO/PREMIUM 12 months. #shameless #self #advertising
5.9 โโ Fees and Slippage โโ
Too often completely ignored by many traders, the fees can eat gains out quickly/deepen one's capital faster than expected.
โ ๏ธThe fees vary between brokers, and asset traded - it could be recommended to check on your broker page what are the fees for the asset on your chart, and insert that percentage number.
Another cost ignored, even more, is the Slippage.
i.e. think about a Stop-Loss being hit, and we're so confused because we see on the chart that NEVER the price came even close to your SL level, but... it got hit anyway.
Yes! we know how frustrating it is, but that's the game we're playing, and trading should never be about blaming the game, but only blaming the players/traders/ourselves.
Blaming the game constantly is likely to not end with good performance results, but accounting for this "risk", and being able to quantify it is an incredible hedge. #bold #statement #level #10000
5.10 ๐ Alerts ๐
By design, the alerts aren't available for strategy scripts. But this script is an... indicator so why should we not enjoy all the cards in our hands the fullest.
We enabled the alerts on the:
1. Main BUY/SELL Entry
2. Pyramiding BUY/SELL Entries
3. Exit Signals such as stop-loss, take-profit, hard-exits
You're welcome :)
VI. ๐ Where are the backtest results? ๐
Answer: in the Data Window section of your TradingView
Now the cherry on the cake if we might say so. A backtest is cool, but visualizing results is actually the end goal here.
Our PREMIUM users benefit from way more analytics than the PRO users.
More info available on our website.
The Data Window is dynamic - it means whenever you'll mouseover at a give time on your chart, the data on that panel automatically updates.
Let's assume you're backtesting your idea between Sept 1st, 2019, and Oct 1st, 2019.
If your mouse cursor is located (or hovered) at a candle on Sept 14th, 2019 (data chosen randomly for this example), then the data displayed only includes the results between Sept 1st, and Sept 14th.
More info available on our website with a nice tutorial video. Data window metrics and filters explained on our website
Here's what the data window looks like: imgur.com
If you have any doubt or question, please hit me up directly or ask in the comments section of this script.
I'll never claim I have the best trading methodology or the best indicators.
You only will judge and I'll appreciate all the questions and feedback you're sending my way.
They help me a ton to develop indicators based on all the requests I received.
Kind regards,
Dave
