Edri Extreme Points Buy & SellEDRI EXTREME POINTS BUY & SELL INDICATOR
This Buy and Sell (non-repainting) indicator uses signals based on the combined CCI/Momentum and RSI indicators and optional regular divergence.
The idea of the indicator is to look for a potential reversal after the price reached extreme points (overbought or oversold) and signals an entry when the price shows signs of momentum for reversal.
Optionally, it considers finding a divergence while RSI is at the extreme levels to improve the predictability of a possible reversal.
Additionally, the indicator includes a simple Mean Reversion visual on the chart to assist users in identifying extreme price levels and potential reversal opportunities. It features upper and lower bands that can be optionally plotted, showing calculated values where price bounces at those extreme levels.
The purpose of these bands is to help traders avoid getting trapped in the middle of a trend and to guide them to buy low and sell high. (It's important to note that this is purely a visual aid and does not impact the generation of trade signals.)
By utilizing the Mean Reversion bands alongside the entry conditions, traders can gain insights into potential price reversals and make more informed decisions about when to enter or exit trades.
Buy and Sell Entry conditions:
• The indicator looks at the CCI/Momentum indicator to turn positive (if buy) or negative (if sell) after the RSI was overbought or oversold in the recent past.
• It also checks if there is a 3-period regular bullish divergence in the RSI (if buy), or regular bearish divergence (if sell) and consider these in the entry condition.
• If these conditions are met, this indicator suggests that it may be a good time to enter a trade.
In summary this is how this indicator works:
• The indicator takes input settings such as the choice between using CCI or Momentum as the entry signal source, length parameters for CCI/Momentum, RSI levels for overbought and oversold conditions, RSI length, and options to plot mean reversion bands on the chart.
• It calculates the CCI and Momentum and RSI values based on user-defined length..
• It checks for regular bullish and bearish divergences (3 periods) in the RSI if the option is enabled.
• The script plots shapes on the chart to indicate the buy and sell signals based on the entry conditions.
• If the mean reversion bands option is enabled, it calculates the mean reversion, standard deviation, upper band, and lower band values.
• It also plots the upper band, mean reversion line, and lower band on the chart if the mean reversion bands option is enabled.
• This indicator includes alert conditions to generate alerts for the buy and sell signals.
• On top of that, users can opt to use only one alert for both buy and sell signals. (This can save Trading view subscribers with limited alerts.)
Important! Please do not consider everything you read here as financial advice. Additionally, do not rely solely on indicators for making your trading decisions. It is important to note that no indicator or strategy is perfect. Therefore, it is always recommended to backtest everything and practice proper risk management.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
Cari dalam skrip untuk "Divergence"
Stochastic with DivergencesReuploading as there was an issue with the description.
This indicator uses the popular Stochastic indicator as its base. I have included the ability to draw divergences on the indicator as they occur live. By default it will be off, select the settings for the indicator and about halfway down there will be a dropdown menu that says "Off". Select it and then select which divergences you want to draw: Regular, Hidden, or Both. I like to draw both. I find that hidden divergence is really nice during a trending market and the regular divergence is works great in a range market. I also feel that the regular divergence is great during a trending market if you are given the signal but then wait for the next price movement for a double top/bottom to occur. The Stochastic indicator itself is often used in a ranging market by selling when it is overbought and buying once it indicates oversold (much like the RSI indicator). I find that it can work in trending markets if you only take overbought in a down trend and oversold in an up trend. In the above picture you can see that I had used it to trade this downtrend using both the Hidden Divergence and Sell Signals to catch the trend continuation until it failed on the fourth trade. From here I would usually start using the Stochastic as simply an oscillating indicator and buy/sell based on overbought/oversold. I've also added an option to enable the Stochastic RSI if you'd rather use that, as well as a fill option which simply colors in the space between the Stochastic and Signal lines. The Signals option will put on highlights of when to buy or sell based on overbought/oversold areas that agree with the long term trend (based on the 200 EMA).
Divergence is a short way of saying there was a higher or lower movement compared to normal but the price did not represent that movement, indicating strength or weakness in a specific direction.
Regular divergence is an indication of a trend reversal. Regular bullish divergence occurs when the price chart shows a lower low while the stochastic shows a higher low. Regular bearish divergence occurs when the price chart shows a higher high while the stochastic shows a lower high.
Hidden divergence is an indication of a trend continuation. Hidden bullish divergence occurs when the price chart shows a higher low while the stochastic shows a lower low. Hidden bearish divergence occurs when the price chart shows a lower high while the stochastic shows a higher high.
The "Only Trending Divergences" option, if enabled, will only show bearish divergences during a down trend (price is below 200 EMA) and only show bullish divergences during an uptrend (price is above 200 EMA). I like to use this option and have set it to ON by default.
The "Middle Filter" option, if enabled, ensures that Highs on the stochastic indicator will not be counted as Highs unless they are above the middle value of the oscillator (which is 50), same goes for lows: they will not be counted as Lows unless they are below the middle value of the oscillator.
I also include buy/sell signals that coincide with the trend (based on the 200 EMA). If price is currently below the 200 EMA and the stochastic indicator is overbought (over 80), you can get a sell signal when it the blue line crosses down below 80. This sell signal shows that you are in a down trend and the price just was overbought but is now likely to continue pushing downwards. The opposite works for buy signals: Above 200 EMA, stochastic goes below 20, when it crosses above 20 it will show a green highlight to indicate price is likely to push upwards.
I think the default options are likely the best to use. The only one I tend to change on occasion is the "Pivots to look back" which I adjust usually to either 1 or 3.
(JS) Ultimate RSISo my goal here was to combine all of my RSI ideas into a single indicator in order to make kind of a "Swiss Army Knife" version of the Relative Strength Index ...
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So, let's begin with the first RSI indicator I made, which is the RSIDVW (Divergence/Volume Weighted);
To rephrase my original post, the "divergence/volume weighted" portion is meant to expand upon the current RSI format by adding more variables into the equation.
The standard RSI is based off one value that you select (open, close, OHLC4, HLC3, etc.) while this version takes three variables into account.
The default setting is to have RSI normal without anything added to it (Divergence Weight = 0)
1st - it takes the standard variable that RSI normally uses.
2nd - it factors RSI divergence by taking the RSI change % and price change % to form a ratio. Using this ratio, I duplicated the RSI formula and created a divergence RS to be factored in with the standard price RS .
3rd - it takes Relative Volume and amplifies/weakens the move based upon volume confirmation. (So if Relative Volume for a price bar is 1.0, the RSI plot would be the same as it normally would)
So to explain the parameters
- Relative Volume Length: This uses the RV length you specify to determine spikes in volume (or lack of volume ), which then is added into the formula to influence the strength of the RSI move
- RV x Divergence: This is how I calculated the original formula, but you can leave this unchecked to turn Relative Volume off, or apply elsewhere.
- RV x RS: There's two sides, Divergence RS and Standard RS - these check marks allow you to select which part you prefer to be multiplied by Relative Volume .
Checking neither turns off Relative Volume , while checking both amplifies its effects by placing it on both sides of the equation.
-Divergence Weight: This controls how much the DVW portion of the formula influences the RSI plot. As I referred to earlier, default is 0 making RSI normal. The Scale is 0-2, so 1.0 would be the same as 50%.
When I do have DVW on, I generally set it to 0.5
-SMA Divergence: To smooth, or not to smooth, that is the question. UJsing an SMA here is much smoother in my opinon, but leaving it unchecked runs it through an RMA the same way standard RSI is calculated.
-Show Fractal Channel: This allows you to see the whole fractal channel around the RSI (This portion of the code, compliments of the original Ricardo Santos fractal script)
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The next portion of the script is adding a "Slow RSI"...
This is rather simple really, it allows you to add a second RSI plot so that you can watch for crossovers between fast and slow lines.
-Slow RSI: This turns on the second RSI Plot.
-Slow RSI Length: This determines the length of the second RSI Plot.
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Pivot Point RSI was something a friend of mine requested I make which turned out pretty cool, I thought... It is also available in this indicator.
-Pivot Points: Selecting this enables the rest of the pivot point related parts of the script
If Pivot Points isn't selected, none of the following things will work
-Plot Pivot: Plots the pivot point .
-Plot S1/R1: Plots S1/R1.
-Plot S2/R2: Plots S2/R2.
-Plot S3/R3: Plots S3/R3.
-Plot S4/R4: Plots S4/R4.
-Plot S5/R5: Plots S5/R5.
-Plot Halfway Points: Plots a line between each pivot .
-Show Pivot Labels: Shows the proper label for each pivot .
When using intraday charts, from a 15 minute interval or less the pivots are calculated based on a single days worth of price action, above that the distance expands.
Here are the current resolutions Pivot Points will work with:
Minutes - 1 , 2, 3, 5, 10, 13, 15, 20, 30, 39, 78, 130, 195
Hours - 1, 2, 3, 4, 5, 6
Daily
Weekly
Currently not available on seconds or monthly
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Background Colors
Background Colors: I have six color schemes I created for this which can be toggled here (they can be edited).
Gray Background for Dark Mode: Having this on looks much better when using dark mode on your charts.
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Now finally the last portion, Fibonacci Levels
-Fibonacci Levels: This is off, by default, which then uses the standard levels on RSI (30-50-70). When turned on, it removes these and marks fib levels from 0.146 through 0.886.
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So the quick rundown:
Ultimate RSI contains "divergence/volume weighted" modifications, a slow RSI plot, pivot points , and Fibonacci levels all while auto-plotting divergence and having the trend illustrated in the background colors.
RSI has always been my "go to" indicator, so I hope you all enjoy this as much as I do!
Price action plus//The system combines the divergence of A/D and OBV with identifying reversal points using Japanese candlestick patterns, creating an enhanced version of price action. This helps investors more easily and accurately recognize reversal patterns in technical analysis.
Divergence of A/D vs. OBV includes:
Positive divergence: Identifies smart money leaving the market.
Negative divergence: Identifies smart money entering the market.
Reversal candlestick patterns include:
Buy signals: Morning Star, Bullish Engulfing, Hammer.
Strong Buy signals: Buy signals + Negative divergence
Sell signals: Evening Star, Bearish Engulfing, Shooting Star.
Strong Sell signals : Sell signals + Positive divergence
//Hope this system will be helpful for you!
Normalized RSI Trendline with DivergencesNormalized RSI Trendline with Divergences
🔹 Overview
The Normalized RSI Trendline with Divergences indicator enhances traditional RSI analysis by normalizing RSI values within a defined range and applying a trend-following approach. It also detects bullish and bearish divergences to highlight potential trend reversals.
🔹 Features
✔ Normalized RSI Calculation – The RSI values are normalized between -1 and 1 to provide a clearer representation of market momentum.
✔ Trend & Center Lines – A trendline based on linear regression and an adaptive moving average (ALMA) for smoother trend visualization.
✔ Divergence Detection – Identifies regular and hidden divergences, displaying signals directly on the chart.
✔ Customizable Parameters – Users can adjust the signal period, lookback range, trend length, and divergence sensitivity to fit different trading strategies.
🔹 How to Use
Trend Following: The trendline helps identify the overall market direction.
Divergence Signals:
🟢 Bullish Divergence (Potential upward reversal)
🔴 Bearish Divergence (Potential downward reversal)
🟩 Hidden Bullish Divergence (Trend continuation signal)
🟧 Hidden Bearish Divergence (Trend continuation signal)
This script is suitable for trend traders, swing traders, and divergence-based strategies. Customize the settings to match your preferred trading style. 🚀
📌 Disclaimer: This script is for educational purposes only and does not constitute financial advice. Always conduct your own analysis before making trading decisions.
RSI Overlay Table with Pivot-Based Divergence and SortingThis script offers an advanced RSI-based overlay table designed to identify and highlight divergences across multiple timeframes (Daily, Weekly, Monthly) for up to 13 tickers. It employs a pivot-based detection mechanism that spots positive and negative divergences, helping traders identify potential trend reversals or continuations.
Key Features
1. Pivot-Based Divergence Detection:
The script uses pivot points to identify both positive and negative divergences using the RSI indicator and price movements.
User-adjustable pivot settings enhance detection sensitivity, providing traders with an opportunity to fine-tune divergence signals for different market conditions.
2. Multi-Timeframe Analysis:
Displays RSI values along with divergence signals for daily, weekly, and monthly timeframes.
Enables traders to monitor short-term, swing, and long-term trends on a single table, providing a comprehensive view.
3. Customizable Alerts and Visual Cues:
The script generates alerts whenever a divergence is detected, ensuring timely notifications.
Overbought and oversold levels are color-coded based on user-defined thresholds, with the "P-" and "N-" prefixes indicating positive and negative divergences, respectively.
4. User-Friendly Interface:
An intuitive table design allows for easy comparison of RSI levels and divergence signals across multiple tickers.
Offers customizable table positioning options (bottom left, center, right, or middle right) for convenient chart integration.
How to Use
Input Your Tickers: Add up to 13 tickers that you wish to monitor.
Adjust Pivot Settings: Fine-tune the 'Pivot Left Bars' and 'Pivot Right Bars' to optimize the pivot detection process.
Set Overbought/Oversold Levels: Define the RSI thresholds according to your trading strategy.
Enable Alerts: Receive notifications for divergence signals detected on any timeframe.
Concepts Underlying the Calculations
The script leverages the RSI (Relative Strength Index), a popular momentum indicator, to measure the velocity and magnitude of price changes. By comparing RSI values with pivot points, the script identifies divergences that suggest potential reversals. This method ensures more reliable signals than simple bar comparisons, as it accounts for broader market movements over time.
Why This Script Is Unique
This RSI overlay script stands out due to its multi-ticker, multi-timeframe divergence analysis and the use of pivot-based detection for higher accuracy. The integration of an alert system, combined with color-coded visual cues, makes it an actionable and comprehensive tool for traders.
Turkish Translation
RSI Overlay Tablosu - Pivot Tabanlı Uyumsuzluk ve Sıralama ile
Bu script, birden fazla zaman diliminde (Günlük, Haftalık, Aylık) 13 adede kadar seçilen hisse senetleri veya varlıklar için RSI tabanlı ayrışmaları belirleyen ve vurgulayan gelişmiş bir overlay tablosu sunar. Pivot tabanlı tespit mekanizması, trend dönüşlerini veya devamlarını belirlemeye yardımcı olacak şekilde pozitif ve negatif ayrışmaları tespit eder.
Özellikler
1. Pivot Tabanlı Uyumsuzluk Tespiti:
Pivot noktalarını kullanarak RSI göstergesi ve fiyat hareketleri arasındaki pozitif ve negatif uyumsuzlukları tespit eder.
Kullanıcı ayarlı pivot ayarları, uyumsuzluk sinyallerinin hassasiyetini artırır ve farklı piyasa koşullarına uygun hale getirir.
2. Çoklu Zaman Dilimi Analizi:
Günlük, haftalık ve aylık zaman dilimlerinde RSI değerlerini ve ayrışma sinyallerini gösterir.
Kısa vadeli, orta vadeli ve uzun vadeli trendleri tek bir tabloda izlemenize olanak tanır.
3. Kullanıcı Dostu Arayüz ve Uyarılar:
Pozitif ve negatif ayrışmaları tespit ettiğinde uyarılar oluşturur.
Kullanıcı tanımlı eşiklere göre aşırı alım ve aşırı satım seviyelerini renk kodlarıyla gösterir.
Nasıl Kullanılır
İzlemek istediğiniz varlıkları ekleyin (en fazla 13 adet).
Pivot ayarlarını yapılandırarak tespit işlemini optimize edin.
RSI eşik seviyelerini belirleyin ve uyarıları etkinleştirin.
RSI Screener and Divergence [5ema]
Displayed on the RSI chart according to a custom timeframe.
Displays the RSI tracking table of various timeframes.
Identify normal divergence, hidden divergence on RSI chat.
Show buy and sell signals (strong, weak) on the board.
Send notifications when RSI has a buy or sell signal.
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I reused some functions, made by (i believe that):
©paaax : The table position function.
@everget : The RSI divergence function.
@QuantNomad : The function calculated value and array to show on table for input symbols.
I have commented in my code. Thanks so much!
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How it works:
1. Input :
input.int length of RSI => calculate RSI.
input.int upper/lower => checking RSI overbought/oversold.
input.int right bars / left bars => returns price of the pivot low & high point => checking divergence.
input.int range upper / lower bars => compare the low & high point => checking divergence.
input.timeframe => request.security another time frame.
input.string table position => display screener table.
2. Input bool:
plot RSI on chart.
Plot Regular Bullish divergence .
Regular Bearish divergence.
Hidden Bullish divergence .
Hidden Bearish divergence.
3. Basic calculated:
Make function for RSI , pivot low & high point of RSI and price.
Request.security that function for earch time frame.
Result RSI, Divergence.
4. Condition of signal:
Buy condition:
RSI oversold (1)
Bullish divergence (2).
=> Buy if (1) and (2), review buy (1) or (2).
Sell condition:
RSI overbought (3).
Bearish divergence (4).
=> Sell if (3) and (4), review sell (3) or (4).
5. Table screener:
Time frame.
RSI (green - oversold, red - overbought)
Divergence (⬈⬈ - regular bullish , ⬊⬊ regular bearish , ⬊ - hidden bullish , ⬈ - hidden bearish ).
Signal (🟢 - Buy, 🔴 - sell, green 〇 - review buy, red 〇 - review sell)
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
MACD Divergence Fast by RSUAdvantages:
1. When MACD-diff line(orange color) is at a high point, once it falls by 1 k line, it will detect the divergence from the previous high point. This can quickly find the divergence that has taken effect and help you quickly capture the trend before a sharp decline or rise.
2. This indicator detects the previous high and the previous low of 5, 10, 20, 40, 60 lengths at the same time, instead of only detecting a fixed length, so that more divergences can be found.
Notice:
Because it is a quick divergence detection, it is recommended to confirm that the divergence takes effect after the current k is completely closed first. I have identified this state in the indicator as "k not end".
Disadvantages and Risks:
Since it is a quick discovery, there will be error identification. Error divergences will recolor to grey.
Suggestion:
Use “RSI Divergence Fast by RSU” at the same time, because RSI divergence usually occurs before macd, if the position diverges at the same time, the probability of success will increase.
Please do not:
Don't go short in the uptrend, don't go long in the downtrend.
Top divergences that occur because of a strong uptrend are usually only temporary pullbacks. Bottom divergences in persistent declines are also temporary rallies. Do not attempt to trade such low-return trades.
It is recommended to use the divergence indicator when the stock price has made a new high and retraced, and once again made a new high, because this often leads to the end of the trend.
Divergence how to use:
1. After the previous K line was completely closed, a bottom divergence was found.
2. Open an long order at the beginning of the second bar, or as close to the bottom as possible (because the stop loss will be smaller).
3. Break the stop loss price below the previous low where the divergence occurred, which already means that the divergence is wrong.
BOSCILLATOR. A BOSS OSCILLATORI would like to first say I do not the indicator pieces. Would like to personally give thanks and credit to @MarkBench for coding this indicator and helping to get my vision for this system finally able to be published and used by anyone. I would also like the thank @lazy bear and @ChrisMoody for their bringing the Firefly oscillator and the SCHAFF TREND and the PPO price percentage oscillator to trading view. and @scilentor for his version of Godmode with LSMA . Thanks to @Shizaru for bringing Frama moving average (which we have adopted into the PPO as one of the base selections for the first time, as well as the ALMA ). Divergences have also been added. and components of the firefly have been removed such as the histogram. I have added two oscillators in the picture. The bottom is the standard settings. The above is how I prefer mine to look after tweaking the settings.
Before I get into explaining how its used. I want to say all the indicators are open and none privately owned or at least owned by indivduals who brought them to trading view. Any due permission is granted at my disclocsure. I also want to say this is not your typical mashup of indicators as the is a very clear way to view and use this specifically. Also I want to say original tools from their original scripts are also improved. For example the PPO being used we have added the FRAMA and ALMA moving average basis option which it did not have before. And now everything has clear divergences and some other minor changers. but here are the rules and examples.
THE BOSCILLATOR - A MULTI-LEVEL CONFLUENCE/CONFIRMATION FILTER VISUALIZATION
Some shorthand
(Main oscillator - firefly)
(background wave thing - PPO )
(the red vertical up and down line with red and green dots - STC )
(the blue, yellow and red dots - warning dots)
WHO IS THIS INDICATOR FOR? - This indicator itself is not meant to be a signal giver to buy or sell right now even though it could be and some of the original scripts are used as such. This indicator is actually meant to be a VISUAL CONFIRMATION & FILTER for trades taken in other methods outside of this indicator. What are some of those methods that may benefit from having this? Pivot point traders, FIB traders, Bollinger band traders, Moving average traders.. just to name a few. This indicator itself is meant to in a quick glance allow the trade to see the condition of many different elements outside of the main price and chart, and determine if that trade looks like it has too much risk, or if that trade looks suitable. It also provides a series of confirmations that could be used for adding to a position at different levels at the trade's discretion.
OPTIMAL CONDITIONS FOR CONSIDERING A SHORT = The PPO is orange/red + the STC is at the TOP + the Firefly is above the midline. The warning dots are being printed at the top. There is regular or hidden bearish divergence present.
OPTIMAL CONDITIONS FOR CONSIDERING A LONG = The PPO is light/dark green + the STC is at the BOTTOM + the Firefly is below the midline. The warning dots are being printed at the bottom. There is regular or hidden bullish divergence present.
Triggers for scaling/adding into your position = Keeping in mind that this oscillator on its own is not meant to be the sole reason for taking a trade, here are some triggers you will see for getting into position (preferably with the optimal conditions being met) The firefly flips from a green line into a red slide and vise versa. The firefly crosses the midline up or down. The STC begins going up/down and triggers a green or red dot while crossing one of the levels at 20 or 80. The warning dots being made begin to be printed lower/higher than the dot before last. The PPO shift from one color to the next in the favored direction of the trade you wish to make.
Signs for taking profit and protecting your trade = The Dots begin to print, the PPO changes colors at the top or bottom. the STC arrived are the top.
FILTER SITUATIONS TO AVOID TRADES = Wise to not take a trade if the PPO and the firefly do not agree. For example - if the PPO is showing green yet the firefly is still red may be an indication that it is getting a bit late for you to enter the trade. Same with opposing divergences and warning dots contradicting the trade you are looking at. The STC being already on the bottom or top may be a small indication that trade may already have been a little too ripe, but on its own is not always the case.
When selecting the PPO settings and moving average you are going to want it to be in favor of what you are trying to accomplish.IF you are one low time frames and trying to swing or scalp trade... chances are you want a reactive MA setting that iss responsive. Iwould recommend the HULL, ALMA, TEMA DEMA. For the Higher time frame the EMA or the T3 WDma can be wuite patient and helpful for a constant reminder of caution
Some notes - for the swing and scalp trading... in my experience the PPO moving average basis sees more responsive changes with the FRAMA , ALMA , HULL settings. for entering a trade, at least a couple of your triggers being present increases the success rate by a lot.
This chart illustrates the usefullness of having a Zero lag function for the firefly. The firefly should not be taken for signals or trades itself. However it is the most precise finder of divergences within the system. It is aways good to flip on and off zero lag just to take a quick look for divergences you might have mixed.
In this chart illustrates the general visual look and order of events to guide you along your way. Starts with the PPO turning green or red or orange which is potentially time to get out of your current trade. Then it switched colors when reversal begins and that is when you want to at the same time see the STC, the firefly, and lower caution dots coming in around the same area (highlighted in blue squares). Now near the end you see a red box. This is a filter aspect. The PPO is green, yet the others are saying down/short. This does not mean it must be a long, however it is great warning to maybe avoid getting to bearish for the downside in that time. You want the PPO and line up with the others and it should be visually apparent that they all want to go the same way.
Here is a list of some key elements (before changes this script made) of parts this oscillator includes. My original publication of my oscillation setup was blocked by the mods here.. this one however includes a large variety of items that have been altered from their original formats and a well-explained trading system to use it with.
// Firefly
Firefly Oscillator
// PPO
PPO PercentileRank Mkt Tops & Bottoms (@PuppyTherapy)
// Divergence
Divergence Indicator (any oscillator)
// Godmode
Godmode3.2+LSMA
// Schaff
Schaff Trend Cycle
// Frama
(FRAMA) Fractal Adaptive Moving Average
CCI DivergencesEasily identify divergences. Modified from Tradingview's Divergence Indicator script. Alerts are available.
RSI 100 150 200 MA Ribbon
Following Trends and Finding Divergences
Here is a script example that uses a long length (100, 150, 200) RSI MA Ribbon to detect trend reversals using lower time frames. You can also use traditional RSI to find divergences.
Built Best for 1H to 10 Min Charting
BTCUSD
Market Participation Index [PhenLabs]📊 Market Participation Index
Version: PineScript™ v6
📌 Description
Market Participation Index is a well-evolved statistical oscillator that constantly learns to develop by adapting to changing market behavior through the intricate mathematical modeling process. MPI combines different statistical approaches and Bayes’ probability theory of analysis to provide extensive insight into market participation and building momentum. MPI combines diverse statistical thinking principles of physics and information and marries them for subtle changes to occur in markets, levels to become influential as important price targets, and pattern divergences to unveil before it is visible by analytical methods in an old-fashioned methodology.
🚀 Points of Innovation:
Automatic market condition detection system with intelligent preset selection
Multi-statistical approach combining classical and advanced metrics
Fractal-based divergence system with quality scoring
Adaptive threshold calculation using statistical properties of current market
🚨 Important🚨
The ‘Auto’ mode intelligently selects the optimal preset based on real-time market conditions, if the visualization does not appear to the best of your liking then select the option in parenthesis next to the auto mode on the label in the oscillator in the settings panel.
🔧 Core Components
Statistical Foundation: Multiple statistical measures combined with weighted approach
Market Condition Analysis: Real-time detection of market states (trending, ranging, volatile)
Change Point Detection: Bayesian analysis for finding significant market structure shifts
Divergence System: Fractal-based pattern detection with quality assessment
Adaptive Visualization: Dynamic color schemes with context-appropriate settings
🔥 Key Features
The indicator provides comprehensive market analysis through:
Multi-statistical Oscillator: Combines Z-score, MAD, and fractal dimensions
Advanced Statistical Components: Includes skewness, kurtosis, and entropy analysis
Auto-preset System: Automatically selects optimal settings for current conditions
Fractal Divergence Analysis: Detects and grades quality of divergence patterns
Adaptive Thresholds: Dynamically adjusts overbought/oversold levels
🎨 Visualization
Color-coded Oscillator: Gradient-filled oscillator line showing intensity
Divergence Markings: Clear visualization of bullish and bearish divergences
Threshold Lines: Dynamic or fixed overbought/oversold levels
Preset Information: On-chart display of current market conditions
Multiple Color Schemes: Modern, Classic, Monochrome, and Neon themes
Classic
Modern
Monochrome
Neon
📖 Usage Guidelines
The indicator offers several customization options:
Market Condition Settings:
Preset Mode: Choose between Auto-detection or specific market condition presets
Color Theme: Select visual theme matching your chart style
Divergence Labels: Choose whether or not you’d like to see the divergence
✅ Best Use Cases:
Identify potential market reversals through statistical divergences
Detect changes in market structure before price confirmation
Filter trades based on current market condition (trending vs. ranging)
Find optimal entry and exit points using adaptive thresholds
Monitor shifts in market participation and momentum
⚠️ Limitations
Requires sufficient historical data for accurate statistical analysis
Auto-detection may lag during rapid market condition changes
Advanced statistical calculations have higher computational requirements
Manual preset selection may be required in certain transitional markets
💡 What Makes This Unique
Statistical Depth: Goes beyond traditional indicators with advanced statistical measures
Adaptive Intelligence: Automatically adjusts to current market conditions
Bayesian Analysis: Identifies statistically significant change points in market structure
Multi-factor Approach: Combines multiple statistical dimensions for confirmation
Fractal Divergence System: More robust than traditional divergence detection methods
🔬 How It Works
The indicator processes market data through four main components:
Market Condition Analysis:
Evaluates trend strength, volatility, and price patterns
Automatically selects optimal preset parameters
Adapts sensitivity based on current conditions
Statistical Oscillator:
Combines multiple statistical measures with weights
Normalizes values to consistent scale
Applies adaptive smoothing
Advanced Statistical Analysis:
Calculates higher-order statistical moments
Applies information-theoretic measures
Detects distribution anomalies
Divergence Detection:
Uses fractal theory to identify pivot points
Detects and scores divergence quality
Filters signals based on current market phase
💡 Note:
The Market Participation Index performs optimally when used across multiple timeframes for confirmation. Its statistical foundation makes it particularly valuable during market transitions and periods of changing volatility, where traditional indicators often fail to provide clear signals.
Adaptive RSI with Real-Time Divergence [AIBitcoinTrend]👽 Adaptive RSI Trailing Stop (AIBitcoinTrend)
The Adaptive RSI Trailing Stop is an indicator that integrates Gaussian-weighted RSI calculations with real-time divergence detection and a dynamic ATR-based trailing stop. This advanced approach allows traders to monitor momentum shifts, identify divergences early, and manage risk with adaptive trailing stop levels that adjust to price action.
👽 What Makes the Adaptive RSI with Signals and Trailing Stop Unique?
Unlike traditional RSI indicators, this version applies a Gaussian-weighted smoothing algorithm, making it more responsive to price action while reducing noise. Additionally, the trailing stop feature dynamically adjusts based on volatility and trend conditions, allowing traders to:
Detects real-time divergences (bullish/bearish) with a smart pivot-based system.
Filter noise with Gaussian weighting, ensuring smoother RSI transitions.
Utilize crossover-based trailing stop activation, for systematic trade management.
👽 The Math Behind the Indicator
👾 Gaussian Weighted RSI Calculation
Traditional RSI calculations rely on simple averages of gains and losses. Instead, this indicator weights recent price changes using a Gaussian distribution, prioritizing more relevant data points while maintaining smooth transitions.
Key Features:
Exponential decay ensures recent price changes are weighted more heavily.
Reduces short-term noise while maintaining responsiveness.
👾 Real-Time Divergence Detection
The indicator detects bullish and bearish divergences using pivot points on RSI compared to price action.
👾 Dynamic ATR-Based Trailing Stop
Bullish Trailing Stop: Activates when RSI crosses above 20 and dynamically adjusts based on low - ATR multiplier.
Bearish Trailing Stop: Activates when RSI crosses below 80 and adjusts based on high + ATR multiplier
This allows traders to:
Lock in profits systematically by adjusting stop-losses dynamically.
Stay in trades longer while maintaining adaptive risk management.
👽 How It Adapts to Market Movements
✔️ Gaussian Filtering ensures smooth RSI transitions while preventing excessive lag.
✔️ Real-Time Divergence Alerts provide early trade signals based on price-RSI discrepancies.
✔️ ATR Trailing Stop dynamically expands or contracts based on market volatility.
✔️ Crossover-Based Activation enables the stop-loss system only when RSI confirms a momentum shift.
👽 How Traders Can Use This Indicator
👾 Divergence Trading
Traders can use real-time divergence detection to anticipate reversals before they happen.
Bullish Divergence Setup:
Look for RSI making a higher low, while price makes a lower low.
Enter long when RSI confirms upward momentum.
Bearish Divergence Setup:
Look for RSI making a lower high, while price makes a higher high.
Enter short when RSI confirms downward momentum.
👾 Trailing Stop Signals
Bullish Signal and Trailing Stop Activation:
When RSI crosses above 20, a trailing stop is placed using low - ATR multiplier.
If price crosses below the stop, it exits the trade and removes the stop.
Bearish Signal and Trailing Stop Activation:
When RSI crosses below 80, a trailing stop is placed using high + ATR multiplier.
If price crosses above the stop, it exits the trade and removes the stop.
This makes trend-following strategies more efficient, while ensuring proper risk management.
👽 Why It’s Useful for Traders
✔️ Dynamic and Adaptive: Adjusts to changing market conditions automatically.
✔️ Noise Reduction: Gaussian-weighted RSI reduces short-term price distortions.
✔️ Comprehensive Strategy Tool: Combines momentum detection, divergence analysis, and automated risk management into a single indicator.
✔️ Works Across Markets & Timeframes: Suitable for stocks, forex, crypto, and futures trading.
👽 Indicator Settings
RSI Length: Defines the lookback period for RSI smoothing.
Gaussian Sigma: Controls how much weight is given to recent data points.
Enable Signal Line: Option to display an RSI-based moving average.
Divergence Lookback: Configures how far back pivot points are detected.
Crossover/crossunder values for signals: Set the crossover/crossunder values that triggers signals.
ATR Multiplier: Adjusts trailing stop sensitivity to market volatility.
Disclaimer: This indicator is designed for educational purposes and does not constitute financial advice. Please consult a qualified financial advisor before making investment decisions.
Money Flow ExtendedMoney Flow Extended (MF)
Definition
The Money Flow Extended (MF) indicator brings together the functionality of the Money Flow Index indicator (MFI) , a tool created by Gene Quong and Avrum Soudack and used in technical analysis for measuring buying and selling pressure, and The Relative Strength Index (RSI) , a well versed momentum based oscillator created by J.Welles Wilder Jr., which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements.
History
As the Money Flow Index (MFI) is quite similar to The Relative Strength Index (RSI), essentially the RSI with the added aspect of volume, adding a Moving Average, divergence calculation, oversold and overbought gradients, facilitates the transition from RSI, making the use of MFI pretty similar.
What to look for
Overbought/Oversold
When momentum and price rise fast enough, at a high enough level, eventual the security will be considered overbought. The opposite is also true. When price and momentum fall far enough, they can be considered oversold. Traditional overbought territory starts above 80 and oversold territory starts below 20. These values are subjective however, and a technical analyst can set whichever thresholds they choose.
Divergence
MF Divergence occurs when there is a difference between what the price action is indicating and what MF is indicating. These differences can be interpreted as an impending reversal. Specifically, there are two types of divergences, bearish and bullish.
Bullish MFI Divergence – When price makes a new low but MF makes a higher low.
Bearish MFI Divergence – When price makes a new high but MF makes a lower high.
Failure Swings
Failure swings are another occurrence which can lead to a price reversal. One thing to keep in mind about failure swings is that they are completely independent of price and rely solely on MF. Failure swings consist of four steps and are considered to be either Bullish (buying opportunity) or Bearish (selling opportunity).
Bullish Failure Swing
MF drops below 20 (considered oversold).
MF bounces back above 20.
MF pulls back but remains above 20 (remains above oversold)
MF breaks out above its previous high.
Bearish Failure Swing
MF rises above 80 (considered overbought)
MF drops back below 80
MF rises slightly but remains below 80 (remains below overbought)
MF drops lower than its previous low.
Summary
The Money Flow Extended (MF) can be a very valuable technical analysis tool. Of course, MF should not be used alone as the sole source for a trader’s signals or setups. MF can be combined with additional indicators or chart pattern analysis to increase its effectiveness.
Inputs
Length
The time period to be used in calculating the MF. 14 is the default.
Pivot Loopback
After how many bars you want the divergence to show, on the scale of 1-5. 5 is the default.
Calculate Divergence
Calculating divergences is needed in order for divergence alerts to fire.
Moving Average section
You can learn more about the inputs in the "Moving Average" section in this Help Center article .
Style
MF
Can toggle the visibility of the MF as well as the visibility of a price line showing the actual current value of the MF. Can also select the MF Line's color, line thickness and visual style.
MF-based MA
Can toggle the visibility of the MF-based MA as well as the visibility of a price line showing the actual current MA value. Can also select its color, line thickness and line style.
MF Upper Band
Can toggle the visibility of the Upper Band as well as sets the boundary, on the scale of 1-100, for the Upper Band (80 is the default). The color, line thickness and line style can also be determined.
MF Middle Band
Can toggle the visibility of the Middle Band as well as sets the boundary, on the scale of 1-100, for the Middle Band (50 is the default). The color, line thickness and line style can also be determined.
MF Lower Band
Can toggle the visibility of the Lower Band as well as sets the boundary, on the scale of 1-100, for the Lower Band (20 is the default). The color, line thickness and line style can also be determined.
MF Background Fill
Toggles the visibility of a Background color within the MF's boundaries. Can also change the Color itself as well as the opacity.
Overbought Gradient Fill
Can toggle the visibility of the Overbought Gradient Fill. Can also select its colors combination.
Oversold Gradient Fill
Can toggle the visibility of the Oversold Gradient Fill. Can also select its colors combination.
Precision
Sets the number of decimal places to be left on the indicator's value before rounding up. The higher this number, the more decimal points will be on the indicator's value.
All Divergences with trend / SL - Uncle SamThanks to the main inspiration behind this strategy and the hard work of:
"Divergence for many indicators v4 by LonesomeTheBlue"
The "All Divergence" strategy is a versatile approach for identifying and acting upon various divergences in the market. Divergences occur when price and an indicator move in opposite directions, often signaling potential reversals. This strategy incorporates both regular and hidden divergences across multiple indicators (MACD, Stochastics, CCI, etc.) for a comprehensive analysis.
Key Features:
Comprehensive Divergence Analysis: The strategy scans for regular and hidden divergences across a variety of indicators, increasing the probability of identifying potential trade setups.
Trend Filter: To enhance accuracy, a moving average (MA) trend filter is integrated. This ensures trades align with the overall market trend, reducing the risk of false signals.
Customizable Risk Management: Users can adjust parameters for long/short stop-loss and take-profit levels to match their individual risk tolerance.
Additional Risk Management (Optional): An experimental MA-based risk management feature can be enabled to close positions if the market shows consecutive closes against the trend.
Clear Visuals: The script plots pivot points, divergence lines, and stop-loss levels on the chart for easy reference.
Strategy Settings (Defaults):
Enable Long/Short Strategy: True
Long/Short Stop Loss %: 2%
Long/Short Take Profit %: 5%
Enable MA Trend: True
MA Type: HMA (Hull Moving Average)
MA Length: 500
Use MA Risk Management: False (Experimental)
MA Risk Exit Candles: 2 (If enabled)
Pivot Period: 9
Source for Pivot Points: Close
Backtest Details (Example):
The strategy has been backtested on XAUUSD 1H (Goold/USD 1 hour timeframe) with a starting capital of $1,000. The backtest period covers around 2 years. A commission of 0.02% per trade and a 0.1% slippage per trade were factored in to simulate real-world trading costs.
Disclaimer:
This strategy is for educational and informational purposes only. Backtested results are not indicative of future performance. Use this strategy at your own risk. Always conduct your own analysis and consider consulting a financial professional before making any trading decisions.
Important Notes:
The default settings are a good starting point, but feel free to experiment to find optimal parameters for your specific trading style and market.
The MA-based risk management is an experimental feature. Use it with caution and thoroughly test it before deploying in live trading.
Backtest results can vary depending on the market, timeframe, and specific settings used. Always consider slippage and commission fees when evaluating a strategy's potential profitability.
Money Flow Index Divergences [UAlgo]🔶 Description:
This script aims providing traders with comprehensive insights into market dynamics. The indicator offers a multi-faceted approach to technical analysis, encompassing various features to enhance trading decision-making:
🔶Key Features:
Money Flow Index Oscillator Settings: Users can customize the length of the MFI oscillator and the confluence bar length to suit their trading preferences.
Gradient Color Visualization: The indicator utilizes gradient colors to visually represent the MFI oscillator, with colors shifting based on MFI values for enhanced clarity.
Confluence Area Calculation: A confluence area is calculated based on the specified length, providing additional context for MFI movements (Aims to provide longer-term information).
Divergence Detection: The script identifies bullish and bearish divergences by comparing price action with MFI oscillator movements, aiding traders in spotting potential trend reversals.
Customizable Sensitivity: Traders can adjust the sensitivity settings for divergence detection according to their trading strategies.
🔶Calculations:
MFI Calculation:
The script starts by calculating the Money Flow Index (MFI) using the ta.mfi() function, which takes the typical price (hlc3) and a length parameter (default set to 14). The MFI is normalized to a range between 0 and 1 for color gradient calculations.
Another MFI is calculated with a longer length (lengthConfluence, default set to 50) for confluence analysis. Similar to the MFI calculation, the highest and lowest MFI values within the confluence length are determined. The MFI values within the confluence length are normalized. The normalized MFI values are used to calculate the gradient color for the confluence area.
Gradient Color Calculations:
Two sets of RGB color values (redRGB, greenRGB, blueRGB) and (redRGB2, greenRGB2, blueRGB2) are defined to create a gradient color scheme for the MFI plot. The MFI value is normalized between the highest and lowest MFI values within the specified length. The normalized MFI value is then used to calculate the red, green, and blue components of the gradient color.
Plotting Confluence Area:
Two horizontal lines (upperArea and lowerArea) are plotted to highlight the confluence area.
The area between these lines is filled with the gradient color representing MFI confluence.
Divergence Calculations:
Bullish and bearish divergences are identified based on specific conditions related to the MFI and price action.
Bullish divergence occurs when the MFI makes a lower low while price makes a higher low.
Bearish divergence occurs when the MFI makes a higher high while price makes a lower high.
The sensitivity (Pivot calculation length) of divergence detection can be adjusted.
Overall, this script provides a comprehensive analysis of the Money Flow Index, including plotting the MFI with a gradient color scheme, identifying confluence areas, and detecting bullish and bearish divergences to aid traders in making informed decisions.
🔶Disclaimer:
-This script is provided for informational and educational purposes only and should not be considered financial advice.
-Trading involves risk, and users should conduct their own research and analysis before making any investment decisions.
-The author of this script and UAlgo are not liable for any losses incurred as a result of using this indicator.
-Users are encouraged to exercise caution and practice risk management when trading in the financial markets.
Divergance Based on Vortex IndicatorThe Vortex-Based Divergence Indicator represents a groundbreaking approach to analyzing market dynamics within the realm of technical analysis. Drawing inspiration from the concept of vortices and their cyclical patterns, this indicator strives to illuminate potential divergence points within financial markets, providing traders with valuable insights for informed decision-making.
At its foundation, the Vortex-Based Divergence Indicator builds upon the principles of the Vortex Indicator, a well-established tool for gauging momentum and identifying potential trend reversals. However, this innovative indicator goes a step further by focusing on the divergences that can occur between the Vortex Indicator and the actual price movements.
Divergences, which arise when the direction of an indicator's movement contradicts the direction of price action, hold paramount significance within the Vortex-Based Divergence Indicator. By integrating this indicator with other renowned oscillators, such as the Relative Strength Index (RSI) or the Moving Average Convergence Divergence (MACD), traders can augment their analytical capabilities significantly.
These complementary oscillators can corroborate or validate the signals generated by the Vortex-Based Divergence Indicator. For instance, when the Vortex-Based Divergence Indicator hints at a potential trend reversal, cross-referencing this insight with the RSI's overbought or oversold levels can enhance the accuracy of the prediction. Likewise, employing the MACD to confirm momentum shifts in conjunction with the Vortex Indicator's signals can provide a more comprehensive view of market dynamics.
It's crucial to emphasize the importance of synergy when combining these indicators. Rather than relying solely on the Vortex-Based Divergence Indicator, incorporating other oscillators acts as a checks-and-balances system, reducing false signals and enhancing the overall reliability of the trading strategy. However, prudent traders also recognize that no indicator or combination thereof is foolproof. Additional factors, such as fundamental analysis and market news, should also be considered to achieve well-rounded trading decisions.
In essence, the Vortex-Based Divergence Indicator's integration with established oscillators like RSI and MACD offers traders a powerful toolkit to navigate complex market landscapes. By leveraging the strengths of each indicator and cross-referencing their insights, traders can elevate their trading strategies to new heights of accuracy and effectiveness.
Recursive Zigzag [Trendoscope]Here is an another outcome of Object Oriented Zigzag and Pattern Ecosystem of Libraries.
We already have another implementation of recursive zigzag which makes use of earlier library rzigzag . Here in this example, we make use of similar logic but leverage the new type and method based Zigzag system libraries to derive the indicator.
🎲 Design Overview
Similar to Recursive Auto Pitchfork, here too the indicator code is around 50 lines. Whereas most of the heavy lifting is done by the libraries.
🎲 Base Libraries
Base libraries are those which does not have any dependency. They form basic structures which are later used in other libraries. These libraries need to be crafted carefully so that minimal updates are done later on. Any updates on these libraries will impact all the dependent libraries and scripts.
🎯 Drawing
DrawingTypes - Defines basic drawing types Point, Line, Label, Box, Linefill and related property types.
DrawingMethods - All the methods or functionality surrounding Basic types are defined here.
🎲 Layer 1 Libraries
These are the libraries which has direct dependency on base libraries.
🎯 Zigzag
ZigzagTypes - Types required for defining Zigzag and Divergence
ZigzagMethods - Methods associated with Zigzag Type definitions.
🎲Indicator
Indicator draws zigzags based on given length. And then recursively derives next level zigzags based on previous levels. As per the utility, indicator is useful in several ways
Visualising price structure based on zigzag pivots - which in turn can help visualise patterns.
Ability to add any oscillator makes it easy to spot divergences with choice of indicators.
Programmers can use the derived values to build complex algorithms such as automatic pattern recognition.
🎯 Settings
Settings are explained via tooltips. These are very much straight forward and directly related to zigzag, oscillators and divergence.
MACD Divergence [ALERTSETUP]A request I thought would be useful to code.
Very simple script that allows to create alerts on MACD divergences, based on @wanliyu script.
I also removed the security function to avoid repainting.
Red background is bearish divergence and green background is bullish divergence.
Enjoy !
Uptrick: FRAMA Matrix RSIUptrick: FRAMA Matrix RSI
Introduction
The Uptrick: FRAMA Matrix RSI is a momentum-based indicator that integrates the Relative Strength Index (RSI) with the Fractal Adaptive Moving Average (FRAMA). By applying FRAMA's adaptive smoothing to RSI—and further refining it with a Zero-Lag Moving Average (ZLMA)—this script creates a refined and reliable momentum oscillator. The indicator now includes enhanced divergence detection, potential reversal signals, customizable buy/sell signal options, an internal stats table, and a fully customizable bar coloring system for an enhanced visual trading experience.
Why Combine RSI with FRAMA
Traditional RSI is a well-known momentum indicator but has several limitations. It is highly sensitive to price fluctuations, often generating false signals in choppy or volatile markets. FRAMA, in contrast, adapts dynamically to price changes by adjusting its smoothing factor based on market conditions.
By integrating FRAMA into RSI calculations, this indicator reduces noise while preserving RSI's ability to track momentum, adapts to volatility by reducing lag in trending markets and smoothing out choppiness in ranging conditions, enhances trend-following capability for more reliable momentum shifts, and refines overbought and oversold signals by adjusting to the current market structure.
With the new enhancements, such as a manual alpha input, noise filtering, divergence detection, and multiple buy/sell signal options, the indicator offers even greater flexibility and precision for traders. This combination improves the standard RSI by making it more adaptive and responsive to market changes.
Originality
This indicator is unique because it applies FRAMA's adaptive smoothing technique to RSI, creating a dynamic momentum oscillator that adjusts to different market conditions. Many traditional RSI-based indicators either use fixed smoothing methods like exponential moving averages or employ basic RSI calculations without adjusting for volatility.
This script stands out by integrating several elements, including the fractal dimension-based smoothing of FRAMA to reduce noise while retaining responsiveness, the use of Zero-Lag Moving Average smoothing to enhance trend sensitivity and reduce lag, divergence detection to highlight mismatches between price action and RSI momentum, a noise filter and manual alpha option to prevent minor fluctuations from generating false signals, customizable buy/sell signal options that let traders choose between ZLMA-based or FRAMA RSI-based signals, an internal stats table displaying real-time FRAMA calculations such as fractal dimension and the adaptive alpha factor, and a fully customizable bar coloring system to visually distinguish bullish, bearish, and neutral conditions.
Features
Adaptive FRAMA RSI
The indicator applies FRAMA to RSI values, making the momentum oscillator adaptive to volatility while filtering out noise. Unlike a traditional RSI that reacts equally to all price movements, FRAMA RSI adjusts its smoothing factor based on market structure, making it more effective for identifying true momentum shifts.
Zero-Lag Moving Average (ZLMA)
A smoothing technique that minimizes lag while preserving the responsiveness of price movements. It is applied to the FRAMA RSI to further refine signals and ensure smoother trend detection.
Bullish and Bearish Threshold Crossovers
This system compares FRAMA RSI to a user-defined threshold (default is 50). When FRAMA RSI moves above the threshold, it indicates bullish momentum, while movement below signals bearish conditions. The enhanced noise filter ensures that only significant moves trigger signals.
Noise Filter and Manual Alpha
A new noise filter input prevents tiny fluctuations from triggering false signals. In addition, a manual alpha option allows traders to override the automatically computed smoothing factor with a custom value, providing extra control over the indicator’s sensitivity.
Divergence Detection
The indicator identifies divergence patterns by comparing FRAMA RSI pivots to price action. Bullish divergence occurs when price makes a lower low while FRAMA RSI makes a higher low, and bearish divergence occurs when price makes a higher high while FRAMA RSI makes a lower high. These signals can help traders anticipate potential reversals.
Reversal Signals
Labels appear on the chart when FRAMA RSI confirms classic RSI overbought (70) or oversold (30) conditions, providing visual cues for potential trend reversals.
Buy and Sell Signal Options
Traders can now choose between two signal-generation methods. ZLMA-based signals trigger when the ZLMA of FRAMA RSI crosses key overbought (70) or oversold (30) levels, while FRAMA RSI-based signals trigger when FRAMA RSI itself crosses these levels. This added flexibility allows users to tailor the indicator to their preferred trading style.
ZLMA:
FRAMA:
Customizable Alerts
Alerts notify traders when FRAMA RSI crosses key levels, divergence signals occur, reversal conditions are met, or buy/sell signals trigger. This ensures that important trading events are not missed.
Fully Customizable Bar Coloring System
Users can color bars based on different conditions, enhancing visual clarity. Bar coloring modes include: FRAMA RSI threshold (bars change color based on whether FRAMA RSI is above or below the threshold), ZLMA crossover (bars change when ZLMA crosses overbought or oversold levels), buy/sell signals (bars change when official signals trigger), divergence (bars highlight when bullish or bearish divergence is detected), and reversals (bars indicate when RSI reaches overbought or oversold conditions confirmed by FRAMA RSI). The system also remembers the last applied bar color, ensuring a smooth visual transition.
Input Parameters and Features
Core Inputs
RSI Length (default: 14) defines the period for RSI calculations.
FRAMA Lookback (default: 16) determines the length for the FRAMA smoothing function.
RSI Bull Threshold (default: 50) sets the level above which the market is considered bullish and below which it is bearish.
Noise Filter (default: 1.0) ensures that small fluctuations do not trigger false bullish or bearish signals.
Additional Features
Show Bull and Bear Alerts (default: true) enables notifications when FRAMA RSI crosses the threshold.
Enable Divergence Detection (default: false) highlights bullish and bearish divergences based on price and FRAMA RSI pivots.
Show Potential Reversal Signals (default: false) identifies overbought (70) and oversold (30) levels as possible trend reversal points.
Buy and Sell Signal Option (default: ZLMA) allows traders to choose between ZLMA-based signals or FRAMA RSI-based signals for trade entry.
ZLMA Enhancements
ZLMA Length (default: 14) determines the period for the Zero-Lag Moving Average applied to FRAMA RSI.
Visualization Options
Show Internal Stats Table (default: false) displays real-time FRAMA calculations, including fractal dimension and the adaptive alpha smoothing factor.
Show Threshold FRAMA Signals (default: false) plots buy and sell labels when FRAMA RSI crosses the threshold level.
How It Works
FRAMA Calculation
FRAMA dynamically adjusts smoothing based on the price fractal dimension. The alpha smoothing factor is derived from the fractal dimension or can be set manually to maintain responsiveness.
RSI with FRAMA Smoothing
RSI is calculated using the user-defined lookback period. FRAMA is then applied to the RSI to make it more adaptive to volatility. Optionally, ZLMA is applied to further refine the signals and reduce lag.
Bullish and Bearish Threshold Crosses
A bullish condition occurs when FRAMA RSI crosses above the threshold, while a bearish condition occurs when it falls below. The noise filter ensures that only significant trend shifts generate signals.
Buy and Sell Signal Options
Traders can choose between ZLMA crossovers or FRAMA RSI crossovers as the basis for buy and sell signals, offering flexibility in trade entry timing.
Divergence Detection
The indicator identifies divergences where price action and FRAMA RSI momentum do not align, potentially signaling upcoming reversals.
Reversal Signal Labels
When classic RSI overbought or oversold levels are confirmed by FRAMA RSI conditions, reversal labels are added on the chart to highlight potential exhaustion points.
Bar Coloring System
Bars are dynamically colored based on various conditions such as RSI thresholds, ZLMA crossovers, buy/sell signals, divergence, and reversals, allowing traders to quickly interpret market sentiment.
Alerts and Internal Stats
Customizable alerts notify traders of key events, and an optional internal stats table displays real-time calculations (fractal dimension, alpha value, and RSI values) to help users understand the underlying dynamics of the indicator.
Summary
The Uptrick: FRAMA Matrix RSI offers an enhanced approach to momentum analysis by combining RSI with adaptive FRAMA smoothing and additional layers of signal refinement. The indicator now includes adaptive RSI smoothing to reduce noise and improve responsiveness, Zero-Lag Moving Average filtering to minimize lag, divergence and reversal detection to identify potential turning points, customizable buy/sell signal options that let traders choose between different signal methodologies, a fully customizable bar coloring system to visually distinguish market conditions, and an internal stats table for real-time insight into FRAMA calculation parameters.
Whether used for trend confirmation, divergence detection, or momentum-based strategies, this indicator provides a powerful and adaptive approach to trading.
Disclaimer
This script is for informational and educational purposes only. Trading involves risk, and past performance does not guarantee future results. Always conduct proper research and consult with a financial advisor before making trading decisions.
Market Cipher B by WeloTradesMarket Cipher B by WeloTrades: Detailed Script Description
//Overview//
"Market Cipher B by WeloTrades" is an advanced trading tool that combines multiple technical indicators to provide a comprehensive market analysis framework. By integrating WaveTrend, RSI, and MoneyFlow indicators, this script helps traders to better identify market trends, potential reversals, and trading opportunities. The script is designed to offer a holistic view of the market by combining the strengths of these individual indicators.
//Key Features and Originality//
WaveTrend Analysis:
WaveTrend Channel (WT1 and WT2): The core of this script is the WaveTrend indicator, which uses the smoothed average of typical price to identify overbought and oversold conditions. WT1 and WT2 are calculated to track market momentum and cyclical price movements.
Major Divergences (🐮/🐻): The script detects and highlights major bullish and bearish divergences automatically, providing traders with visual cues for potential reversals. This helps in making informed decisions based on divergence patterns.
Relative Strength Index (RSI):
RSI Levels: RSI is used to measure the speed and change of price movements, with specific levels indicating overbought and oversold conditions.
Customizable Levels: Users can configure the overbought and oversold thresholds, allowing for a tailored analysis based on individual trading strategies.
MoneyFlow Indicator:
Fast and Slow MoneyFlow: This indicator tracks the flow of capital into and out of the market, offering insights into the underlying market strength. It includes configurable periods and multipliers for both fast and slow MoneyFlow.
Vertical Positioning: The script allows users to adjust the vertical position of MoneyFlow plots to maintain a clear and uncluttered chart.
Stochastic RSI:
Stochastic RSI Levels: This combines the RSI and Stochastic indicators to provide a momentum oscillator that is sensitive to price changes. It is used to identify overbought and oversold conditions within a specified period.
Customizable Levels: Traders can set specific levels for more precise analysis.
//How It Works//
The script integrates these indicators through advanced algorithms, creating a synergistic effect that enhances market analysis. Here’s a detailed explanation of the underlying concepts and calculations:
WaveTrend Indicator:
Calculation: WaveTrend is based on the typical price (average of high, low, and close) smoothed over a specified channel length. WT1 and WT2 are derived from this typical price and further smoothed using the Average Channel Length. The difference between WT1 and WT2 indicates momentum, helping to identify cyclical market trends.
RSI (Relative Strength Index):
Calculation: RSI calculates the average gains and losses over a specified period to measure the speed and change of price movements. It oscillates between 0 and 100, with levels set to identify overbought (>70) and oversold (<30) conditions.
MoneyFlow Indicator:
Calculation: MoneyFlow is derived by multiplying price changes by volume and smoothing the results over specified periods. Fast MoneyFlow reacts quickly to price changes, while Slow MoneyFlow offers a broader view of capital movement trends.
Stochastic RSI:
Calculation: Stochastic RSI is computed by applying the Stochastic formula to RSI values, which highlights the RSI’s relative position within its range over a given period. This helps in identifying momentum shifts more precisely.
//How to Use the Script//
Display Settings:
Users can enable or disable various components like WaveTrend OB & OS levels, MoneyFlow plots, and divergence alerts through checkboxes.
Example: Turn on "Show Major Divergence" to see major bullish and bearish divergence signals directly on the chart.
Adjust Channel Settings:
Customize the data source, channel length, and smoothing periods in the "WaveTrend Channel SETTINGS" group.
Example: Set the "Channel Length" to 10 for a more responsive WaveTrend line or adjust the "Average Channel Length" to 21 for smoother trends.
Set Overbought & Oversold Levels:
Configure levels for WaveTrend, RSI, and Stochastic RSI in their respective settings groups.
Example: Set the WaveTrend Overbought Level to 60 and Oversold Level to -60 to define critical thresholds.
Money Flow Settings:
Adjust the periods and multipliers for Fast and Slow MoneyFlow indicators, and set their vertical positions for better visualization.
Example: Set the Fast Money Flow Period to 9 and Slow Money Flow Period to 12 to capture both short-term and long-term capital movements.
//Justification for Combining Indicators//
Enhanced Market Analysis:
Combining WaveTrend, RSI, and MoneyFlow provides a more comprehensive view of market conditions. Each indicator brings a unique perspective, making the analysis more robust.
WaveTrend identifies cyclical trends, RSI measures momentum, and MoneyFlow tracks capital movement. Together, they provide a multi-dimensional analysis of the market.
Improved Decision-Making:
By integrating these indicators, the script helps traders make more informed decisions. For example, a bullish divergence detected by WaveTrend might be validated by an RSI moving out of oversold territory and supported by increasing MoneyFlow.
Customization and Flexibility:
The script offers extensive customization options, allowing traders to tailor it to their specific needs and strategies. This flexibility makes it suitable for different trading styles and timeframes.
//Conclusion//
The indicator stands out due to its innovative combination of WaveTrend, RSI, and MoneyFlow indicators, offering a well-rounded tool for market analysis. By understanding how each component works and how they complement each other, traders can leverage this script to enhance their market analysis and trading strategies, making more informed and confident decisions.
Remember to always backtest the indicator first before implying it to your strategy.
Squeeze Momentum DeluxeThe Squeeze Momentum Deluxe is a comprehensive trading toolkit built with features of momentum, volatility, and price action. This script offers a suite for both mean reversion and trend-following analysis. Developed based on the original TTM Squeeze implementation by @LazyBear, this indicator introduces several innovative components to enhance your trading insights.
🔲 Components and Features
Momentum Oscillator - as rooted in the TTM Squeeze, quantifies the relationship between price and its extremes over a defined period. By normalizing the calculation, the values become comparable throughout time and across securities, allowing for a nuanced assessment of Bullish and Bearish momentum. Furthermore, by presenting it as a ribbon with a signal line we gain additional information about the direction of price swings.
Squeeze Bars - The original squeeze concept is based on the relationship between the Bollinger Bands and Keltner Channel , once the BB resides inside the KC a squeeze occurs. By understanding their fundamentals a new form of calculation can be inferred.
method bb(float src, simple int len, simple float mult) => method kc(float src, simple int len, simple float mult) =>
float basis = ta.sma (src, len) float basis = ta.sma (src, len)
float dev = ta.stdev(src, len) float rng = ta.atr ( len)
float upper = basis + dev * mult float upper = basis + rng * mult
float lower = basis - dev * mult float lower = basis - rng * mult
Both BB and KC are constructed upon a moving average with the addition of Standard Deviation and Average True Range respectively. Therefore, the calculation can be transformed to when the Stdev is lower than the ATR a squeeze occurs.
method sqz(float src, simple int len) =>
float dev = ta.stdev(src, len)
float atr = ta.atr ( len)
dev < atr ? true : false
This indicator uses three different thresholds for the ATR to gain three levels of price "Squeeze" for further analysis.
Directional Flux- This component measures the overall direction of price volatility, offering insights into trend sentiment. Presented as waves in the background, it includes an OverFlux feature to signal extreme market bias in a particular direction which can signal either exhaustion or vital continuation. Additionally, the user can choose if to base the calculation on Heikin-Ashi Candles to bias the tool toward trend assessment.
Confluence Gauges - Placed at the top and bottom of the indicator, these gauges measure confluence in the relationship between the Momentum Oscillator and Directional Flux. They provide traders with an easily interpretable visual aid for detecting market sentiment. Reversal doritos displayed alongside them contribute to mean reversion analysis.
Divergences (Real-Time) - Equipped with a custom algorithm, the indicator detects real-time divergences between price and the oscillator. This dynamic feature enhances your ability to spot potential trend reversals as they occur.
🔲 Settings
Directional Flux Length - Adjusts the period of which the background volatility waves operate on.
Trend Bias - Bases the calculation of the Flux to HA candles to bias its behavior toward the trend of price action.
Squeeze Momentum Length - Calibrates the length of the main oscillator ribbon as well as the period for the squeeze algorithm.
Signal - Controls the width of the ribbon. Lower values result in faster responsiveness at the cost of premature positives.
Divergence Sensitivity - Adjusts a threshold to limit the amount of divergences detected based on strength. Higher values result in less detections, stronger structure.
🔲 Alerts
Sell Signal
Buy Signal
Bullish Momentum
Bearish Momentum
Bullish Flux
Bearish Flux
Bullish Swing
Bearish Swing
Strong Bull Gauge
Strong Bear Gauge
Weak Bull Gauge
Weak Bear Gauge
High Squeeze
Normal Squeeze
Low Squeeze
Bullish Divergence
Bearish Divergence
As well as the option to trigger 'any alert' call.
The Squeeze Momentum Deluxe is a comprehensive tool that goes beyond traditional momentum indicators, offering a rich set of features to elevate your trading strategy. I recommend using toolkit alongside other indicators to have a wide variety of confluence to therefore gain higher probabilistic and better informed decisions.
Rainbow Indicator - Polfwack ProThis is a reverse engineered completely free Version of an Indicator that you would normally have to spend huge amounts of money on. I personally believe that no one should pay a fortune for access to an Indicator that contains huge amounts of freely available stuff.
This indicator claims to be even better than Market Cipher. Turns out it uses - just as Market Cipher, freely available Indicators and puts them in a nice looking package. I packed in as much as it made sense, the original Indicator is visually very cluttered with - in my opinion, too much random stuff that I have left out for a cleaner look, for example the truckload of entry signals, MFI and that Autotrendline feature that no one really needs because the human brain is way better at drawing lines.
Was is included? From top to bottom:
1st Bar -> Color coded RSI status. It shows Oversold and Overbought, Bullish, Hidden Bullish, Bearish and Hidden Bearish Divergences.
2nd Bar -> Color coded Market Structure Analyser. It shows if the market is currently ranging, bullish or bearish based on calculated pivots and outbreaks of said pivots. Bullish and Bearish breaks are also being printed.
Main Oscillator -> An Awesome Oscillator (AO) that prints bullish, hidden bullish, bearish and hidden bearish divergences as well as positive and negative Pivot Points.
Bollinger Bands -> They are following the AO and are color coded to the long term trend indicator for less visual clutter.
Secondary Oscillator -> Accelerator Oscillator (AC).
3rd Bar -> Color coded longer term trend indicator, it mirrors the color code on the Bollinger Bands. The original uses an ATR-based calculation, but I found a Kumo cloud to be more simple and more reliable for this kind of thing.
4th Bar -> Color coded mirror of the Accelerator Oscillator.
I tried to make the whole Indicator as adjustable as possible, most of the variables can be edited to your liking.
On the internet you can find all sorts of strategies for every single of the included indicators.
I hope that I have saved you at least some money. Good luck.
