MAVERICKAMIT01-RELATIVE STRENGTHTHE SCRIPT SIMPLY DIVIDES THE STOCK PRICE BY NIFTY TO MEASURE UNDER PERFORMANCE AND OUT PERFORMANCE WITH NIFTY. YOU CAN CHANGE SETTINGS FROM NIFTY TO ANY OTHER SECTOR LIKE CNX FMCG TO MEASURE SECTOR PERFORMANCE AND UNDER PERFORMANCE !!!
Cari dalam skrip untuk "THE SCRIPT"
Candlestick Patterns - BisayaTCThe script displays a label when a candle stick pattern is detected based on Trends. This is related to the latest Candlestick patterns released in TradingView. I've created this to have all candlestick patterns in one indicator.
Candlestick Patterns can be one of confirmation of a trend you're following or a reversal.
DISCLAIMER: For educational purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR
Rolling midpointsThe script made for research purposes which plots these statistics of a given window: Mid-range (max + min)/2, Lower midpoint (mid-range + min)/2, and Higher midpoint (mid-range + max)/2.
This could be interesting when checking periods with sample size <= 0, or checking distros with srs kurtosis values.
Mean & median are also there.
5MAThe script contains five moving averages: MA50 , MA100 , MA200 , EMA30 , SMMA10 .
You can adapt it for yourself and use it on any markets.
Max of VWAP of last three daysThe script searches for max values of last three days and then calculates average of those values
Golden Ratio Multiplier: Multiplied Moving AveragesThe script for plotting DMAs from the study made by @PositiveCrypto (twitter)
Doji's/Engulfing Candles/Supertrend v1.0The Script locates Bearish/Bullish Engulfing Candlesticks and Dojis in combination with Supertrend v1.0.
Original Authors: HPotter + Rajandran R
The Three EMA'sThe script is three EMA's that are fit into one indicator. Can be well used in EMA trading system for short and long term.
Renko with custom sourceThe script allows you to set custom date source for Renko chart through Format dialog.
YK Fuller BarsThe script highlights "Fuller's pins" and generates alerts when these bars are appearing
Synthetic Price Action GeneratorNOTICE:
First thing you need to know, it "DOES NOT" reflect the price of the ticker you will load it on. THIS IS NOT AN INDICATOR FOR TRADING! It's a developer tool solely generating random values that look exactly like the fractals we observe every single day. This script's generated candles are as fake as the never ending garbage news cycles we are often force fed and expected to believe by using carefully scripted narratives peddled as hypnotic truth to psychologically and emotionally influence you to the point of control by coercion and subjugation. I wanted to make the script's synthetic nature very clear using that analogy, it's dynamically artificial. Do not accidentally become disillusioned by this scripts values, make trading decisions from it, and lastly don't become victim to predatory media magic ministry parrots with pretty, handsome smiles, compelling you to board their ferris wheel of fear. Now, on to the good stuff...
BACKSTORY:
Occasionally I find myself in situations where I have to build analyzers in Pine to actually build novel quantitative analytic indicators and tools worthy of future use. These analyzers certainly don't exist on this platform, but usually are required to engineer and tweak algorithms of the highest quality with the finest computational caliber. I have numerous other synthesizers to publish besides this one.
For many reasons, I needed a synthetic environment to utilize the analyzers I built in Pine, to even pursue building some exotic indicators and algorithms. Pine doesn't allow sourcing of tuples. Not to mention, I required numerous Pine advancements to make long held dreams into tangible realities. Many Pine upgrades have arrived and MANY, MANY more are in need of implementation for all. Now that I have this, intending to use it in the future often when in need, you can now use it too. I do anticipate some skilled Pine poets will employ this intended handy utility to design and/or improved indicators for trading.
ORIGIN:
This was inspired by the brilliance from the world renowned ALGOmist John F. Ehlers, but it's taken on a completely alien form from its original DNA. Browsing on the internet for something else, I came across an article with a small code snippet, and I remembered an old wish of mine. I have long known that by flipping back and forth on specific tickers and timeframes in my Watchlist is not the most efficient way to evaluate indicators in multiple theatres of price action. I realized, I always wanted to possess and use this sort of tool, so... I put it into Pine form, but now have decided to inject it with Pine Script steroids. The outcome is highly mutable candle formations in a reusable mutagenic package, observable above and masquerading as genuine looking price candles.
OVERVIEW:
I guess you could call it a price action synthesizer, but I entitled it "Synthetic Price Action Generator" for those who may be searching for such a thing. You may find this more useful on the All or 5Y charts initially to witness indication from beginning (barstate.isfirst === barindex==0) to end (last_bar_index), but you may also use keyboard shortcuts + + to view the earliest plottable bars on any timeframe. I often use that keyboard shortcut to qualify an indicator through the entirety of it's runtime.
A lot can go wrong unexpectedly with indicator initialization, and you will never know it if you don't inspect it. Many recursively endowed Infinite Impulse Response (IIR) Filters can initialize with unintended results that minutely ring in slightly erroneous fashion for the entire runtime, beginning to end, causing deviations from "what should of been..." values with false signals. Looking closely at spg(), you will recognize that 3 EMAs are employed to manage and maintain randomness of CLOSE, HIGH, and LOW. In fact, any indicator's barindex==0 initialization can be inspected with the keyboard shortcuts above. If you see anything obviously strange in an authors indicator, please contact the developer if possible and respectfully notify them.
PURPOSE:
The primary intended application of this script, is to offer developers from advanced to even novice skill levels assistance with building next generation indicators. Mostly, it's purpose is for testing and troubleshooting indicators AND evaluating how they perform in a "manageable" randomized environment. Some times indicators flake out on rare but problematic price fluctuations, and this may help you with finding your issues/errata sooner than later. While the candles upon initial loading look pristine, by tweaking it to the minval/maxval parameters limits OR beyond with a few code modifications, you can generate unusual volatility, for instance... huge wicks. Limits of minval= and maxval= of are by default set to a comfort zone of operation. Massive wicks or candle bodies will undoubtedly affect your indication and often render them useless on tickers that exhibit that behavior, like WGMCF intraday currently.
Copy/paste boundaries are provided for relevant insertion into another script. Paste placement should happen at the very top of a script. Note that by overwriting the close, open, high, etc... values, your compiler will give you generous warnings of "variable shadowing" in abundance, but this is an expected part of applying it to your novel script, no worries. plotcandle() can be copied over too and enabled/disabled in Settings->Style. Always remember to fully remove this scripts' code and those assignments properly before actual trading use of your script occurs, AND specifically when publishing. The entirety of this provided code should never, never exist in a published indicator.
OTHER INTENTIONS:
Even though these are 100% synthetic generated price points, you will notice ALL of the fractal pseudo-patterns that commonly exist in the markets, are naturally occurring with this generator too. You can also swiftly immerse yourself in pattern recognition exercises with increased efficiency in real time by clicking any SPAG Setting in focus and then using the up/down arrow keys. I hope I explained potential uses adequately...
On a personal note, the existence of fractal symmetry often makes me wonder, do we truly live in a totality chaotic universe or is it ordered mathematically for some outcomes to a certain extent. I think both. My observations, it's a pre-deterministic reality completely influenced by infinitesimal amounts of sentient free will with unimaginable existing and emerging quantities. Some how an unknown mysterious mechanism governing the totality of universal physics and mathematics counts this 100.0% flawlessly and perpetually. Anyways, you can't change the past that long existed before your birth or even yesterday, but you can choose to dream, create, and forge the future into your desires and hopes. As always, shite always happens when your not looking for it. What you choose to do after stepping in it unintentionally... is totally up to you. :) Maybe this tool and tips provided will aid you in not stepping in an algo cachucha up to your ankles somehow.
SCRIPTING LESSONS PORTRAYED IN THIS SCRIPT:
Pine etiquette and code cleanliness
Overwrite capabilities of built-in Pine variables for testing indicators
Various techniques to organize Settings panel while providing ease of adjustment utility
Use of tooltip= to provide users adequate valuable information. Most people want to trade with indicators, not blindly make adjustments to them without any knowledge of their intended operation/effects
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members , I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
Akshay - TheOne, TheMostWanted, TheUnbeatable, TheEnd➤ All-in-One Solution (❌ No repaint):
This Technical Chart contains, MA24 Condition, Supertrend Indicator, HalfTrend Signal, Ichimoku Cloud Status, Parabolic SAR (P_SAR), First 5-Minute Candle Analysis (ORB5min), Volume-Weighted Moving Average (VWMA), Price-Volume Trend (PVT), Oscillator Composite, RSI Condition, ADX & Trend Strength.
Technicals don't lie.
🚀 Overview and Key Features
Comprehensive Multi-Indicator Approach:
The script is built to be an all-in-one technical indicator on TradingView. It integrates several well-known indicators and overlays—including Supertrend, HalfTrend, Ichimoku Cloud, various moving averages (EMA, SMA, VWMA), oscillators (Klinger, Price Oscillator, Awesome Oscillator, Chaikin Oscillator, Ultimate Oscillator, SMI Ergodic Oscillator, Chande Momentum Oscillator, Detrended Price Oscillator, Money Flow Index), ADX, and Donchian Channels—to create a composite picture of market sentiment.
Signal Generation and Alerts:
It not only calculates these indicators but also aggregates their output into “Master Candle” signals. Vertical lines are drawn on the chart with corresponding alerts to indicate potential buy or sell opportunities based on robust, combined conditions.
Visual Layering:
Through the use of colored histograms, custom candle plots, trend lines, and background color changes, the script offers a multi-layered visual representation of data, providing clarity about both short-term signals and overall market trends.
⚙️ How It Works and Functionality
MA24 Condition:
Uses the 24-period moving average as a proxy; if the price is above it, the bar is colored green, and red if below, with neutrality when conditions aren’t met.
Supertrend Indicator:
Evaluates price relative to the Supertrend level (calculated via ATR), coloring green when price is above it and red when below.
HalfTrend Signal:
Determines trend shifts by comparing the current close to a calculated trend level; green indicates an upward trend, while red suggests a downtrend.
Ichimoku Cloud Status:
Analyzes the relationship between the Conversion and Base lines; a bullish (green) signal is given when price is above both or the Conversion line is higher than the Base line.
Parabolic SAR (P_SAR):
Colors the signal based on whether the current price is above (green) or below (red) the Parabolic SAR marker, indicating stop and reverse conditions.
First 5-Minute Candle Analysis (ORB5min):
Uses key levels from the first 5-minute candle; if price exceeds the candle’s low, VWAP, and MA, it’s bullish (green), otherwise bearish (red).
Volume-Weighted Moving Average (VWMA):
Compares the current price to volume-weighted averages; a price above these levels is shown in green, below in red.
Price-Volume Trend (PVT):
Determines bullish or bearish momentum by comparing PVT to its VWAP—green when above and red when below.
Oscillator Composite:
Aggregates signals from multiple oscillators; a majority of positive results turn it green, while negative dominance results in red.
RSI Condition:
Uses a simple RSI threshold of 50, with values above signifying bullish (green) momentum and below marking bearish (red) conditions.
ADX & Trend Strength:
Reflects overall trend strength through ADX and directional movements; a combination favoring bullish conditions colors it green, with red signaling bearish pressure.
Master Candle Overall Signal:
Combines multiple indicator outputs into one “Master” signal—green for a consensus bullish trend and red for a bearish outlook.
Scalp Signal Variation:
Focused on short-term price changes, this signal adjusts quickly; green indicates improving short-term conditions, while red signals a downturn.
📊 Visualizations and 🎨 User Experience (❌ no repaint)
Dynamic Histograms & Bar Plots:
Each indicator is represented as a colored bar (with added vertical offsets) to facilitate easy comparison of their respective bullish or bearish contributions.
Clear Color-Coding & Labels:
Green (e.g., GreenFluorescent) indicates bullish sentiment.
Red (e.g., RedFluorescent) indicates bearish sentiment.
Custom labels and descriptive text accompany each bar for clarity.
Interactive Charting:
The overall background color adapts based on the “Master Candle” condition, offering an instant read on market sentiment.
The current candlestick is overlaid with color cues to reinforce the indicator’s signal, enhancing the trading experience.
Real-Time Alerts:
Vertical lines appear on signal events (buy/sell triggers), complemented by alerts that help traders stay on top of actionable market moves.
Sharp lines:
The Sharp lines are plotted based upon the EMA5 cross over with the same market trend, marks this as good time to reentry.
🔧 Settings and Customization
Flexible Timeframe Input:
Users can select their preferred timeframe for analysis, making the indicator adaptable to intraday or longer-term trading styles.
Customizable Indicator Parameters:
➤ Supertrend: Adjust ATR length and multiplier factors.
➤ HalfTrend: Tweak amplitude and channel deviation settings.
➤ Ichimoku Cloud & Oscillators: Fine-tune the conversion/base lines and oscillator lengths to match individual trading strategies.
Visual Customization:
The script’s color schemes and plotting styles can be altered as needed, giving users the freedom to tailor the interface to their taste or existing chart setups.
🌟 Uniqueness of the Concept
Integrated Multi-Indicator Synergy:
Combines a diverse range of trend, momentum, and volume-based indicators into a single cohesive system for a holistic market view.
Master Candle Aggregation:
Consolidates numerous individual signals into a "Master Candle" that filters out noise and provides a clear, consensus-based trading signal.
Layered Visual Feedback:
Uses color-coded histograms, adaptive background cues, and dynamic overlays to deliver a visually intuitive guide to market sentiment at a glance.
Customization and Flexibility:
Offers adjustable parameters for each indicator, allowing users to tailor the system to fit diverse trading styles and market conditions.
✅ Conclusion:
Robust Trading Tool & Non-Repainting Reliability:
This versatile technical analysis tool computes an extensive range of indicators, aggregates them into a stable, non-repainting “Master Candle” signal, and maintains consistent, verifiable outputs on historical data.
Holistic Market Insight & Consistent Signal Generation:
By combining trend detection, momentum oscillators, and volume analysis, the indicator delivers a comprehensive snapshot of market conditions and generates dependable signals across varying timeframes.
User-Centric Design with Rich Visual Feedback:
Customizable settings, clear color-coded outputs, adaptive backgrounds, and real-time alerts work together to provide actionable, transparent feedback—enhancing the overall trading experience.
A Unique All-in-One Solution:
The integrated approach not only simplifies complex market dynamics into an easy-to-read visual guide but also empowers systematic traders with a powerful, adaptable asset for accurate decision-making.
❤️ Credits:
Pine Script™ User Manual
Supertrend
Ichimoku Cloud
Parabolic SAR
Price Volume Trend (PVT)
Average Directional Index (ADX)
Volume Oscillator
HalfTrend
Donchian Trend
Supply and DemandThis is a "Supply and Demand" script designed to help traders spot potential levels of supply (resistance) and demand (support) in the market by identifying pivot points from past price action.
Differences from Other Scripts:
Unlike many pivot point scripts, this one offers a greater degree of customization and flexibility, allowing users to determine how many ranges of pivot points they wish to plot (up to 10), as well as the number of the most recent ranges to display.
Furthermore, it allows users to restrict the plotting of pivot points to specific timeframes (15 minutes, 30 minutes, 1 hour, 4 hours, and daily) using a toggle input. This is useful for traders who wish to focus on these popular trading timeframes.
This script also uses the color.new function for a more transparent plotting, which is not commonly used in many scripts.
How to Use:
The script provides two user inputs:
"Number of Ranges to Plot (1-10)": This determines how many 10-bar ranges of pivot points the script will calculate and potentially plot.
"Number of Last Ranges to Show (1-?)": This determines how many of the most recent ranges will be displayed on the chart.
"Limit to specific timeframes?": This is a toggle switch. When turned on, the script only plots pivot points if the current timeframe is one of the following: 15 minutes, 30 minutes, 1 hour, 4 hours, or daily.
The pivot points are plotted as circles on the chart, with pivot highs in red and pivot lows in green. The transparency level of these plots can be adjusted in the script.
Market and Conditions:
This script is versatile and can be used in any market, including Forex, commodities, indices, or cryptocurrencies. It's best used in trending markets where supply and demand levels are more likely to be respected. However, like all technical analysis tools, it's not foolproof and should be used in conjunction with other indicators and analysis techniques to confirm signals and manage risk.
A technical analyst, or technician, uses chart patterns and indicators to predict future price movements. The "Supply and Demand" script in question can be an invaluable tool for a technical analyst for the following reasons:
Identifying Support and Resistance Levels : The pivot points plotted by this script can act as potential levels of support and resistance. When the price of an asset approaches these pivot points, it might bounce back (in case of support) or retreat (in case of resistance). These levels can be used to set stop-loss and take-profit points.
Timeframe Analysis : The ability to limit the plotting of pivot points to specific timeframes is useful for multiple timeframe analysis. For instance, a trader might use a longer timeframe to determine the overall trend and a shorter one to decide the optimal entry and exit points.
Customization : The user inputs provided by the script allow a technician to customize the ranges of pivot points according to their unique trading strategy. They can choose the number of ranges to plot and the number of the most recent ranges to display on the chart.
Confirmation of Other Indicators : If a pivot point coincides with a signal from another indicator (for instance, a moving average crossover or a relative strength index (RSI) divergence), it could provide further confirmation of that signal, increasing the chances of a successful trade.
Transparency in Plots : The use of the color.new function allows for more transparent plotting. This feature can prevent the chart from becoming too cluttered when multiple ranges of pivot points are plotted, making it easier for the analyst to interpret the data.
In summary, this script can be used by a technical analyst to pinpoint potential trading opportunities, validate signals from other indicators, and customize the display of pivot points to suit their individual trading style and strategy. Always remember, however, that no single indicator should be used in isolation, and effective risk management strategies should always be employed.
extended session - Regular Opening-Range- JayyOpening Range and some other scripts updated to plot correctly (see comments below.) There are three variations of the fibonacci expansion beyond the opening range and retracements within the opening range of the US Market session - I have not put in the script for the other markets yet.
The three scripts have different uses and strengths:
The extended session script (with the script here below) will plot the opening range whether you are using the extended session or the regular session. (that is to say whether "ext" in the lower right hand corner is highlighted or not.). While in the extended session the opening range has some plotting issues with periods like 13 minutes or any period that is not divisible into 330 mins with a round number outcome (eg 330/60 =5.5. Therefore an hour long opening range has problems in the extended session.
The pre session script is only for the premarket. You can select any opening range period you like. I have set the opening range to be the full premarket session. If you select a different session you will have to unselect "pre open to 9:30 EST for Opening Range?" in the format section. The script defaults to 15 minutes in the "period Of Pre Opening Range?". To go back to the 4 am to 9:30 pre opening range select "pre open to 9:30 EST for Opening Range?" there is no automatic 330 minute selection.
The past days offset script only works in 5 min or 15 minute period. It will show the opening range from up to 20 days past over the current days price action. Use this for the regular session only. 0 shows the current day's opening range. Use the positive integers for number of days back ie 1, 2, 3 etc not -1, -2, -3 etc. The script is preprogrammed to use the current day (0).
Scripts updated to plot correctly: One thing they all have in common is a way of they deal with a somewhat random problem that shifts the plots 4 hours in one direction or the other ie the plot started at 9:30 EST or 1:30PM EST. This issue started to occur approximately June 22, 2015 and impacts any script that tried to use "session" times to manage a plot in my scripts. The issue now seems to have been resolved during this past week.
Just in case the problem reoccurs I have added a "Switch session plot?" to each script. If the plot looks funny check or uncheck the "Switch session plot?" and see the difference. Of course if a new issue crops up it will likely require a different fix.
I have updated all of the scripts shown on this chart. If you are using a script of mine that suffers from the compiler issue then you will find an update on this chart. You can get any and all of the scripts by clicking on the small sideways wishbone on the left middle of the chart. You will see a dialogue box. Then click "make it mine". This will import all of the scripts to your computer and you can play around with them all to decide what you want and what you don't want. This is the easiest way to get all of the scripts in one fell swoop. It is also the easiest way for me to make all of the scripts available. I do not have all of the plots visible since it is too messy and one of the scripts (pre OR) is only for the regular session. To view the scripts click on the blue eye to the right of the script title to show it on this script. If you can only use the regular session. The scripts will all (with the exception of the pre OR) work fine.
If for any reason this script seems flakey refresh the page r try a slightly different period. I have noticed that sometimes randomly the script loves to return to the 5 min OR. This is a very new issue transient issue. As always if you see an issue please let me know.
Cheers Jayy
Options Series - Dynamic Support & Resistance
🌟 Key Features & How It Works:
⭐ Dynamic Support and Resistance Management:
The script dynamically calculates and draws support and resistance lines based on pivot highs and pivot lows. Unlike static levels that remain unchanged, these lines are updated in real-time. When a support or resistance level is breached, the corresponding line is automatically deleted, keeping the chart clean and relevant. This feature ensures that the trader is always looking at valid support and resistance levels based on the current price action.
⭐ Use of Arrays for Line Management:
The script utilizes arrays to store and manage support and resistance lines (array.new_line(0)). This is a more advanced feature of Pine Script v5, allowing for efficient handling of multiple lines on the chart. By using arrays, the script can easily track and manipulate multiple lines (adding, removing, updating), ensuring that the chart remains optimized for real-time analysis.
⭐ Customizable Inputs for Flexibility:
The script includes user inputs for the pivot length and the line width, making it adaptable to different trading styles and preferences. The pivot length determines how sensitive the indicator is to price changes, while the line width allows traders to customize the visual representation of support and resistance levels. These inputs add flexibility and make the script accessible to a broad range of traders.
⭐ Efficient Breach Detection Mechanism:
The isBreached function is a key part of the script. It checks whether the current price has breached any of the existing support or resistance levels. If a breach is detected (i.e., the price crosses below a support or above a resistance), the respective line is deleted, ensuring that only active and valid lines remain on the chart. This automatic update feature reduces the need for manual intervention, helping traders stay focused on key price levels.
⭐ Visual Clarity and Chart Cleanliness:
By deleting breached lines, the script ensures that the chart does not become cluttered with outdated or irrelevant lines. This visual clarity is crucial for traders who rely on clean, simple charts for decision-making. Removing unnecessary information helps traders make faster, more confident decisions based on the current market structure.
⭐ Scalability for Multiple Timeframes:
The use of pivot points makes the script adaptable to different timeframes, from intraday scalping to longer-term swing trading. By changing the pivot length, traders can optimize the indicator for different market environments, ensuring that it can be applied across various asset classes and timeframes.
⭐ Practical for Range-bound and Breakout Trading:
This script is particularly effective for traders who focus on range-bound markets or breakout strategies. It allows them to quickly identify areas where price is likely to reverse (support/resistance) or break out (when support/resistance is breached), providing real-time insight into market dynamics.
⭐ Simplification of Price Action Analysis:
By automating the calculation of pivots and management of support/resistance levels, the script simplifies price action analysis. Traders no longer need to manually draw or monitor these levels, which is a common task in technical analysis. This provides an edge, as it reduces the time spent on chart preparation and helps focus on executing trades.
⭐ Originality:
The script "Options Series - Pivot Based Support & Resistance" is an original approach to generating support and resistance levels using pivot points. Pivot-based techniques are popular, but the script introduces an automated dynamic way of drawing support and resistance lines, tracking breaches, and deleting lines when they are no longer valid. This aspect adds a refreshing layer of interactivity and functionality that sets it apart from basic pivot point scripts. The use of arrays to store and manage multiple support and resistance lines is also a good application of Pine Script’s newer array functionalities.
⭐ Uniqueness of the Script:
The script stands out due to its dynamic management of support and resistance lines. Unlike traditional scripts that simply plot static pivot points, this one evolves with the market by removing broken levels, ensuring only valid support and resistance lines are visible on the chart. This is particularly useful for traders who focus on clean charting. The use of arrays to store and manage the lines, alongside the efficient deletion of lines when breached, demonstrates a solid understanding of Pine Script v5's advanced features, such as array manipulation.
🚀 Conclusion:
This script stands out for its real-time adaptability, dynamic support/resistance management, and efficient use of Pine Script’s advanced features. It a powerful tool for both novice and advanced traders.
The script is an indicator designed to draw support and resistance levels based on pivot highs and lows, dynamically removing lines when they are breached. If a price crosses a support or resistance level, the respective line is deleted, ensuring the chart reflects the current state of support and resistance accurately.
WWV_LB zigzag pivot fix jayyThis is a zigzag version of LazyBear's WWV_LB. In order to plot the WWV_LB as a zigzag, it made sense to me to set the zigzag pivot at the true WWV_LB low or high pivot bars as opposed to the "pivot" bars plotted by the original WWV_LB script. The pivot point identified in the WWV_LB script is actually the point at which a wave reversal is confirmed as opposed to the true script pivot point. Confirmation of a wave reversal can, at times, lag the true pivot by a few bars especially as trendDetectionLength values increase above "1". The WWV_LB script calculates cumulative volume from wave reversal confirmation bar to wave reversal confirmation bar as opposed to the actual/true WWV_LB reversal pivot bar to reversal pivot bar. As such the waves plotted by the original and this pivot fixed scripts not only look slightly different but can also have different cumulative volumes. Confirmation of a wave reversal can lag a few bars behind the true pivot point.
The following critical lines of the original WWV_LB script determine when a wave reverses, both the true pivot and the confirmation point:mov = close>close ? 1 : close<close ? -1 : 0
trend= (mov != 0) and (mov != mov ) ? mov : nz(trend )
isTrending = rising(close, trendDetectionLength) or falling(close, trendDetectionLength)
wave=(trend != nz(wave )) and isTrending ? trend : nz(wave ) These original script lines are replicated in lines 62 to 65 of my script and are used to define wave reversal pivot bars and wave reversal confirmation bars. The original WWV_LB script does not track potential or actual pivot bars. The information can be extracted and tracked from the original script and then used to plot the actual reversal pivot bars. This allows the volume to be tracked from the actual/true pivot bars.Instead of "trendDetectionLength" I have inserted "Trend Detection Length" in the dialogue boxes. You can of course change the descriptor to what you wish by editing script line 33 to the original term or whatever you wish. You might also wish to set the default to the value "2" as per the original script. I have set the default to "3".
If you use a dark background I suggest you edit script line 4 from blackr=black to something such as blackr=yellow The volume values are shown in a vertical column of 3 numbers. Given the limitations of Pinescript Version 3 relative to V4, they are plotted at the point where the wave reversal is confirmed as opposed to the true pivot point. The zigzag lines plot the true pivot points. The plot location of numbers could be improved in Pinescript Version 4. I explain below why I have not published the Pinescript version 4 scripThe volume values plotted on the chart are calculated to be relative numbers. The script is limited to showing only three numbers vertically. Only the highest three values of a number are shown. For example, if the highest recent pip value is 12,345 only the first 3 numerals would be displayed ie 123. But suppose there is a recent value of 691. It would not be helpful to display 691 if the other wave size is shown as 123. To give the appropriate relative value the script will show a value of 7 instead of 691. This informs you of the relative magnitude of the values. This is done automatically within the script. There is likely no need to manually override the automatically calculated value. I will create a video that demonstrates the manual override method.
Should you update to Pinescript version 4? You could but if you do you will need to change the "plotchar" criteria since this script will exceed the 64 plot limit when converted to version 4. Version 4 would also allow the zigzags lines to be straight lines. However, the 50 label and line plot limit (Pinescript calls this resource sparing feature "garbage collection") significantly truncates the screen available information provided on screen. This algo optionally allows the plotting of zigzags as calculated by the original WWV_LB script. Toggling between the two script versions allows you to see the zigzag plot differences. I have also made some modifications to the original WWV_LB histogram script to adjust the pivot points.This zigzag script should be used in conjunction with the "WWV_LB pivot fix histogram jayy" shown in the panel below the main screen.
Here is a link to the original LazyBear histogram script which can be used for comparison. The differences are subtle, however, the histograms will regularly be different by a bar or two:
The lowest panel has the original LazyBear WWV_LB script for comparison. All three scripts have been set to a Trend Detection Length of 3.
jayy
[blackcat] L2 Ehlers Early Onset TrendLevel: 2
Background
John F. Ehlers introuced Early Onset Trend Indicator in Aug, 2014.
Function
In “The Quotient Transform” in Aug, 2014, John Ehlers described an early trend detection method, the idea of the quotient transform, that was designed to reduce the lag often found in other trend indicators. I provided a script with pine v4 code here for the early-onset trend-detection indicator and also describes an approach for creating a strategy based on this indicator as an example.
The entry points displayed in blue on the price chart are defined by the top Onset Trend Detector upper quotient crossing above a threshold value e.g zero or 0.25/-0.25 here in this script. In the article, Ehlers suggested using a different K value for the exit, so the exit points are determined by the lower Onset Trend Detector quotient crossing below a threshold e.g. zero or -0.25/0.25 here in this script.
Key Signal
Quotient1 --> upper quotient in yellow which determines long entry
Quotient2 --> lower quotient in fuchsia which determines short entry
long ---> long entry signal
short ---> short entry signal
Pros and Cons
100% John F. Ehlers definition translation, even variable names are the same. This help readers who would like to use pine to read his book.
Remarks
The 82th script for Blackcat1402 John F. Ehlers Week publication.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Counting Stars Overlay [Market Overview Series]Hi fellow tradeurs,
So it's always been my goal to provide one of my best scripts. This is from what I call my "Market Overview" series. It is a scanner for my second best script to date. Market Overview bc of its origins as a scanner of the Kucoin Margin Coins. I realize that there are more coins that there are more margin coins that Kucoin has but I wanted to have a solid 40 coins on each coin "set". If you are unfamiliar with what I mean by 'sets' then you can view my other scanner scripts on this account for futher elaboration but to sum it up....there are 4 sets of coins I have to choose from in the settings. Each set has 40 coins in them (as there is a cap of 40 security calls that can be made per each iteration of the script on the chart). That being said...if you have the capabilities then add this script 4 times to your chart and select a diff set for each copy of the script. This has the scanner in a way that I've yet to present in my others scripts. When the alert for a coin goes off then the coins name will be printed as a label over the main chart. BTW, this was built for the 1 min timeframe and have used it EXTENSIVELY and this is the best TF for how the settings are set. I will also publish another script that will be a visual aid for this one but will rather show all the plots associated with the code that is in this scanner. Know that for the scanner it'll be best to choose a coin that has at least 1 trade/update/printed candle per minute (to be safe use BTC or ETH chart or else some of the signals will be printed if the signal arrives at a point in time where the coin on the screen does not print a candle bc no new trade or update to trades occur in TradingView. For the visual aid script that I will add right after this, there will be 20 different plots that appear. When the AVG of all of these plots is beyond the OverBought line and then the AVG line is falling for 2 bars...THEN the long signal for that coin is generated (and vise versa for short signals) Lastly regarding the visual aid script, THAT ONE will ONLY show the 20 plots that are associated with the coin that the chart is selected for. So that one is not a scanner and is just a stand alone script (again) to show whats going on in the background of this scanner. Now, once you add it however many time you want to see however many sets of coins you want, I recommend merging the scales so that they are all on one scale. I prefer mine being on the left side but all you have to do is select the 3 dots in the scripts settings in the chart window and select the scale location line and it'll open another set of lines at which point you can select "merge to scale Z" (that will be the left scale) and will put all the scales together on the left. I forgot ****If you want to see a whole diff exchange's coins you much make changes to this original script and it is further described how to do so in one of my first publications**** I REALLY hope it becomes of some benefit to you in your trading as it abundantly has in my own. It is after all one of the best of my best. Ohh, I forgot to add alerts to this but will do so immediately following this. To finish, this script DOES NOT REPAINT as far as I have EVER seen (and I have extensively searched for it bc of how good the signals were, I figured I MUST HAVE made a mistake and it did so...but alas...it does not. If you notice something on the contrary do notify me immediately with the coin, exchange, TF, and time of the occurrence and we can go from there. If anyone has any great ideas for the script then please do also let me know and if I find anyone with some abilities that mingle well with my own then lets talk as I'm always looking for good ol chaps to help me out with other scripts bc if you think this is good....well....you must imagine that I've got better that I have not/am not publishing. Aaaaaanywho, goodluck to you all. I wish you the best. ***I've got good info on how to look out for false signals but I want to see what yall come up with first before I give away all my alpha.
AND if anyone asks questions that Ive already touched on in this description or already in the comments sections then maybe someone there would be willing to waste their time answering them bc I've done quite a bit of work here that I am HAPPY to hand over to the general public but if you are not willing to do the work in reading to possibly answer your inquiries that have already been answered then I am not willing to do that work for you again. Peace and love people...peace and love. Im out.
