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Overlay Indicators (EMAs, SMAs, Ichimoku & Bollinger Bands)This is a combination of popular overlay indicators that are used for dynamic support and resistance, trade targets and trend strength. Included are: -> 6 Exponential Moving Averages -> 6 Simple Moving Averages -> Ichimoku Cloud -> Bollinger Bands -> There is also a weekend background marker ideal for cryptocurrency trading Using all these indicators in conjunction with each other provide great confluence and confidence in trades and price targets. An explanation of each indicator is listed below. What Is an Exponential Moving Average (EMA)? "An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent price changes than a simple moving average (SMA), which applies an equal weight to all observations in the period. What Does the Exponential Moving Average Tell You? The 12- and 26-day exponential moving averages (EMAs) are often the most quoted and analyzed short-term averages. The 12- and 26-day are used to create indicators like the moving average convergence divergence (MACD) and the percentage price oscillator (PPO). In general, the 50- and 200-day EMAs are used as indicators for long-term trends. When a stock price crosses its 200-day moving average, it is a technical signal that a reversal has occurred. Traders who employ technical analysis find moving averages very useful and insightful when applied correctly. However, they also realize that these signals can create havoc when used improperly or misinterpreted. All the moving averages commonly used in technical analysis are, by their very nature, lagging indicators." Source: www.investopedia.com Popular EMA lookback periods include fibonacci numbers and round numbers such as the 100 or 200. The default values of the EMAs in this indicator are the most widely used, specifically for cryptocurrency but they also work very well with traditional. EMAs are normally used in conjunction with Simple Moving Averages. " What Is Simple Moving Average (SMA)? A simple moving average (SMA) calculates the average of a selected range of prices, usually closing prices, by the number of periods in that range. Simple Moving Average vs. Exponential Moving Average The major difference between an exponential moving average (EMA) and a simple moving average is the sensitivity each one shows to changes in the data used in its calculation. More specifically, the EMA gives a higher weighting to recent prices, while the SMA assigns an equal weighting to all values." Source: www.investopedia.com In this indicator, I've included 6 popular moving averages that are commonly used. Most traders will find specific settings for their own personal trading style. Along with the EMA and SMA, another indicator that is good for finding confluence between these two is the Ichimoku Cloud. " What is the Ichimoku Cloud? The Ichimoku Cloud is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. It does this by taking multiple averages and plotting them on the chart. It also uses these figures to compute a "cloud" which attempts to forecast where the price may find support or resistance in the future. The Ichimoku cloud was developed by Goichi Hosoda, a Japanese journalist, and published in the late 1960s.1 It provides more data points than the standard candlestick chart. While it seems complicated at first glance, those familiar with how to read the charts often find it easy to understand with well-defined trading signals." More info can be seen here: www.investopedia.com I have changed the default settings on the Ichimoku to suit cryptocurrency trading (as cryptocurrency is usually fast and thus require slightly longer lookbacks) to 20 60 120 30. Along with the Ichimoku, I like to use Bollinger Bands to not only find confluence for support and resistance but for price discovery targets and trend strength. " What Is a Bollinger Band®? A Bollinger Band® is a technical analysis tool defined by a set of trendlines plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of a security's price, but which can be adjusted to user preferences. Bollinger Bands® were developed and copyrighted by famous technical trader John Bollinger, designed to discover opportunities that give investors a higher probability of properly identifying when an asset is oversold or overbought." This article goes into great detail of the complexities of using the Bollinger band and how to use it. ======= This indicator combines all these powerful indicators into one so that it is easier to input different settings, turn specific tools on or off and can be easily customised.
Penunjuk Pine Script®
oleh Shanxia
3
Larry Williams Strategies IndicatorThis indicator is a trend following indicator. It plots some of the trend following strategies described by Larry Williams in his book 'Long Term Secrets to Short Term Trading'. Below are types of trend following strategies you can trade using this indicator. These are notes taken directly from Larry Williams' book. Short Term Low Strategy Short Term Low - Any daily low with higher lows on each side of it. Intermediate Term Low – Any short term low with higher short term lows on each side of it. Long Term Low – Any intermediate term low with higher intermediate term lows on each side of it. Conceptual pattern for best buying opportunity is when forming an intermediate term low higher than the last intermediate term low. This setup can be used on all time frames. However since Larry Williams usually trades the daily chart, the daily chart is probably the best timeframe to trade using this strategy. Entry point – High of the day that has a higher high on the right side of it. (My interpretation: price crossing above the high of the previous day is the buy signal) Target – Markets have a strong tendency to rally above the last intermediate term high by the same amount it moved from the last intermediate term high to the lowest point prior to advancing to new highs. Trailing Stop – Set stop to most recent short term low, move up as new short term lows are formed. Can also use formation of next intermediate term high as an exit point. A 'run' to the upside is over when price fails to move higher the next day and falls below the prior day's low. Short Term High Strategy Short Term High - Any daily high with lower highs on each side of it. Intermediate Term High – Any short term high with lower short term highs on each side of it. Long Term High – Any intermediate term high with lower intermediate term highs on each side of it. Conceptual pattern for best selling opportunity is when forming an intermediate term high lower than the last intermediate term high. This setup can be used on all time frames. However since Larry Williams usually trades the daily chart, the daily chart is probably the best timeframe to trade using this strategy. Entry point – Low of the day that has a lower low on the right side of it. (My interpretation: price crossing below the low of the previous day is the sell short signal) Target – Markets have a strong tendency to fall below the last intermediate term low by the same amount it moved from the last intermediate term low to the highest point prior to declining to new lows. Trailing Stop – Set stop to most recent short term high, move down as new short term highs are formed. Can also use formation of next intermediate term low as an exit point. A 'run' to the downside is over when price fails to move lower the next day and rises above the prior day's high. Trend Reversals A trend change from down to up occurs when a short term high is exceeded on the upside, a trend change from up to down is identified by price going below the most recent low. Can take these signals to make trades, but it is best to filter them with a confirmation or edge such as Trading Day of the Week, Trading Day of the Month, trendlines, etc. to cut down on false signals. Three Bar High/Low System Calculate a three bar moving average of the highs and a three bar moving average of the lows. Strategy is to buy at the at the price of the three bar moving average of the lows - if the trend is positive according to the swing point trend identification technique - and take profits at the three bar moving average of the highs. Selling is just the opposite. Sell short at the three bar moving average of the highs and take profits at the three bar moving average of the lows, using the trend identification technique above for confirmation. This strategy can work on any timeframe, but was described as a daytrading system by Larry Williams.
Penunjuk Pine Script®
oleh aberger96
9
HTF Highs Lows [JV]█  OVERVIEW This script presents a label with an overview of higher timeframe highs and lows. This can be useful information as we all know that price likes to revisit previous highs and lows area, specially on the higher timeframe. █  CONCEPTS This information can be relevant and valuable for various reasons: Finding horizontal Support and Resistance Get a better view on Market Structure Provide some information about Order Flow TrendLines ... █  FEATURES Plots This script provides the option to show information about 3 timeframes Each timeframe can be separately shown or hidden The Y position of the info label can be user defined, based on high or low of the chosen timeframe The X offset of the info label can be adjusted to the user's liking and the chart resolution The label color and text color can be user defined The info label's size can be user defined █  NOTES Caveat The timeframes must be chosen in order of size. Meaning that the highest timeframe should be on top. This is title as such on the info label, but I want to mention it again as it's something to pay attention to. Repainting The question that pops up all the time is: Does it repaint ? I will quote PineCoders on this: We're pretty sure Wilder was not asked very often if RSI repainted. Why? Because it wasn't in fashion—and largely unnecessary—to ask that sort of question in the 80's. Many traders back then used daily charts only, and indicator values were calculated at the day's close, so everybody knew what they were getting. Additionally, indicator values were calculated by generally reputable outfits or traders themselves, so data was pretty reliable. Today, almost anybody can write a simple indicator, and the programming languages used to write them are complex enough for some coders lacking the caution, know-how or ethics of the best professional coders, to get in over their heads and produce code that does not work the way they think it does. Briefly: yes, it repaints and no it does not matter. Simple because we are working with highs and lows on a higher timeframe. So if we get a new high or low within a certain time frame, we want this new high or low to be displayed and, for me, it's not relevant if this information appears when it happens or when the candle closes. Questions & Suggestions Questions, suggestions or even a word of thanks are always welcomed in the comments section. I usually answer within the same day. █  THANKS A word of thanks to, and I hope I am allowed to use hyperlinks here, LonesomeTheBlue for being an inspiration on coding style and his work on arrays in Pine Script and to lmatl for his support, words of advice and letting me borrow his brain now and then.
Penunjuk Pine Script®
oleh jurlvarg
3
DR by Caco MaiaCreated by Brazilian trader Caco Maia,this indicator signals an entry when the price breaks through both a slow and fast average while the TRIX and Stochastic are going in the same direction. Must be used in conjunction with the market context,e.g. Trendlines,Fibonacci Retracements/Extensions or other indicators. Filter 1 : The Fast Average must be going up/down. Filter 2 : There`s a limit to the Slow Average inclination,only allowing entries if the Slow Average is "flat" or in the same direction of the signal. Filter 3 : Uses both Filters.
Penunjuk Pine Script®
oleh williamjunqueira97
1
Price Action - Support & Resistance by DGTSᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ , is undoubtedly one of the key concepts of technical analysis █  Sᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ Dᴇꜰɪɴɪᴛɪᴏɴ Support and Resistance terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an financial instrument from getting pushed in a certain direction. A support level is a price level where buyers are more aggressive than sellers. This means that the price is more likely to "bounce" off this level rather than break through it. However, once the price has breached this level it is likely to continue falling until meeting another support level. A resistance level is the opposite of a support level. It is where the price tends to find resistance as it rises. Again, this means that the price is more likely to "bounce" off this level rather than break through it. However, once the price has breached this level it is likely to continue rising until meeting another resistance level. A previous support level will sometimes become a resistance level when the price attempts to move back up, and conversely, a resistance level will become a support level as the price temporarily falls back. █  Iᴅᴇɴᴛɪꜰʏɪɴɢ Sᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ Support and resistance can come in various forms, and the concept is more difficult to master than it first appears. Identification of key support and resistance levels is an essential ingredient to successful technical analysis. If the price stalls and reverses in the same price area on minimum of two different occasions, then a horizontal line is drawn to show that the market is struggling to move past that area. Those areas are static barriers, one of the most popular forms of support/resistance and are highlighted with horizontal lines. Repeated test , the more often a support/resistance level is "tested" over an extended period of time (touched and bounced off by price), the more significance is given to that specific level High volume , the more buying and selling that has occurred at a particular price level, the stronger the support or resistance level is likely to be Market psychology , plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movement. Psychological levels , is a price level that significantly affects the price of an underlying financial instrument. Typically, near round numbers often serve as support and resistance The following support and resistance related topics are beyond the scope of this study, so they will be mentioned roughly only as a reference for support and resistance concept Trendlines , Support and resistance levels in trends are dynamic. Throughout an uptrend, levels of support tend to look like a trendline, usually clustering around higher lows. As the price rises, the price where buyers consider the stock to be “too cheap” also changes, which creates new support levels on the way up. The same is also true for resistance levels. In an uptrend, a stock is continuously breaking through perceived resistance levels and making new highs Moving Averages , is a constantly changing line that smooths out past price data while also allowing the trader to identify support and resistance. In the example Notice how the price of the asset finds support at the moving average when the trend is up, and how it acts as resistance when the trend is down The Fibonacci Retracement/Extension tool , is a favorite among many short-term traders because it clearly identifies levels of potential support and resistance Pivot Point Calculations , is another common technical analysis technique, where pivot point is calculated based on the high, low, and closing prices of previous trading session/day and support & resistance levels are projected based on the pivot point, different calculation techniques are available, as presented in this example of an pivot point indicator : PVTvX by DGT █  Tʀᴀᴅɪɴɢ Bᴀꜱᴇᴅ ᴏɴ Sᴜᴘᴘᴏʀᴛ ᴀɴᴅ Rᴇꜱɪꜱᴛᴀɴᴄᴇ Once an area or "zone" of support or resistance has been identified, those price levels can serve as potential entry or exit points because, as a price reaches a point of support or resistance, it will do one of two things—bounce back away from the support or resistance level (trading ranges), or violate the price level and continue in its direction (trading breakouts) —until it hits the next support or resistance level The basic trading method for using support and resistance is to buy near support in uptrends or the parts of ranges or chart patterns where prices are moving up and to sell/sell short near resistance in downtrends or the parts of ranges and chart patterns where prices are moving down. Buying near support or selling near resistance can pay off, but there is no assurance that the support or resistance will hold. Therefore, consider waiting for some confirmation that the market is still respecting that area Trading breakouts, a breakout is a potential trading opportunity that occurs when an asset's price moves above a resistance level or moves below a support level on increasing volume. The first step in trading breakouts is to identify current price trend patterns along with support and resistance levels in order to plan possible entry and exit points. Once the asset trades beyond the price barrier, volatility tends to increase and prices usually trend in the breakout's direction. Breakouts are such an important trading strategy since these setups are the starting point for future volatility increases, large price swings and, in many circumstances, major price trends. When trading breakouts, it is important to consider the underlying asset's support and resistance levels. The more times an asset price has touched these areas, the more valid these levels are and the more important they become. At the same time, the longer these support and resistance levels have been in play, the better the outcome when the asset price finally breaks out. Asset prices will often move slightly further than we expect them to. This doesn't happen all the time, but when it does it is called a false breakout. Therefore it is important to consider waiting for some confirmation while trading breakouts. It’s also popular for traders to sell 50% of their positions at the resistance level, and hold the rest in anticipation of a breakout above resistance █  Pʀɪᴄᴇ Aᴄᴛɪᴏɴ - Sᴜᴘᴘᴏʀᴛ & Rᴇꜱɪꜱᴛᴀɴᴄᴇ ʙʏ DGT Sᴛᴜᴅʏ This experimental study attempts to identify the support and resistance levels. Assumes a simple logic to discover moments where the price is rising or falling consecutively for minimum 3 bars with the condition volume increases on each bar and the last bar’s volume should be bigger than the long term volume moving average. A line will be drawn at the end of the move (highest or lowest, depending on the move direction), the line will be drawn at minimum on the 3rd bar and if condition holds for other consecutive bars the line will switch to 4th, 5th etc bar. Lines will not be deleted so the historical ones will remain and will emphasis the levels significance when they overlap in feature. Strong levels are more likely to hold and cause the price to move in the other direction, whereas the minor levels may only cause the price to pause and keep moving in the same direction. Determining future levels of support and resistance can drastically improve the returns of a short-term investing strategy Bar colors will be painted based on the volume of the specific bar to its long term volume moving average. This will help identifying the support and resistance levels significance and emphasis the sings of breakouts Finally, Volume spikes will be marked on top of the price chart. A high volume usually indicates more interest in the security and the presence of institutional traders. However, a rapidly rising price in an uptrend accompanied by a huge volume may be a sign of exhaustion. Traders usually look for breaks of support and resistance to enter positions. When security break critical levels without volume , you should consider the breakout suspect and prime for a reversal off the highs/lows. Volume spikes are often the result of news-driven events. Volume spike will often lead to sharp reversals since the moves are unsustainable due to the imbalance of supply and demand A good example with many support and resistance concepts observed on a stock chart and detected by the study Settings: Length of volume moving average, where volume moving average is used to detect support and resistance levels, is used as reference to compare with threshold values for volume spikes and colors of the bars Hint, to get more historical lines scrolling chart to left will enable visualization of them. Please note they may appear to much all 500 line limit is used 😉 Special thanks to @HEMANT Telegram user, for his observations and suggestions Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Penunjuk Pine Script®
oleh dgtrd
291
Aggregate CandlesThis script creates candles based on an aggregated Index price from various exchange tickers. A lot of exchanges have specific flash crash wicks, missing data, erraticness compared to other exchanges particularly in their first few months, this is an attempt to clean up the price history, be it for TA ( trendlines , S/R etc.) or use in algos or other indicators, without reliance on one exchange. It uses the new Array functionality to generate median and averages, and is entirely original work. This particular version is a generic version of the BTC version. Please read the header before use, and if you do wish to use the code, please ask permission first.
Penunjuk Pine Script®
oleh rthomson
1
Aggregate BTC CandlesThis script creates candles based on an aggregated Index price from various BTC exchange tickers. Since the early years in particular have a lot of exchange specific flash crash wicks, missing data, erraticness compared to other exchanges particularly in their first few months, this is an attempt to clean up the price history, be it for TA (trendlines, S/R etc.) or use in algos or other indicators, without reliance on one exchange. It uses the new Array functionality to generate median and averages, and is entirely original work.
Penunjuk Pine Script®
oleh rthomson
7
Responsive Linear Regression ChannelsThis is a linear trend indicator that can: - automagically adjust to different chart resolutions - snap to day/session boundaries on intraday - totally not do the above and use ye olde good fixed lookback window - show the regression trend and its RMSE channels - disregard the trend and just show the period average and standard deviation lines (often acting as support and resistance) The main idea was to allow you to quickly view linear trends for different time periods without having to calculate the required amount of bars. By default, you will be able to quickly switch between 1-3 months, 6 months, 1 year, 2 years and 5 years of data, as well as various daily lookback periods. Please adjust resolution settings to your liking. Caveats: - More data means more noise and slower calculations. - HLC3 source is recommended, especially at resolutions above hourly. - Trend will be slightly different if you use extended hours. - If you use extended hours and don't have a data subscription, trend will be SUBSTANTIALLY different, especially at smaller resolutions like 1m. - You might want to use 3.5 days per week for crypto (it's 7 days by default). Known problems: - If you can't see the trendlines, scroll to the left or zoom out - the origin could be outside of your viewport. - Futures' sessions start on the previous day. We currently snap only to day boundaries, not session breaks. - UVXY and the like that have extremely high price datapoints. The calculations will be wrong on some resolutions. - Replay can freeze circa bar_index 244 — disable smart lookback and keep your window under 240 bars if you encounter this. ACKNOWLEDGEMENTS: Many thanks to alexgrover for his extremely efficient functions (used with permission)
Penunjuk Pine Script®
oleh corgalicious
66
Noro's Trendlines IndicatorTo create the script I used the LonesomeTheBlue code. Thank him for his code. The indicator shows trend lines. Up to three support lines (red) and up to three resistance lines (lime). There can be up to 6 lines at a time. However, most often there will be from 0 to 1 line. Trend lines may be extended to the right. For this purpose there is a checkbox in the setting. This is the way you may adjust line thickness. For example, how to use The indicator shows you the support line (red) and the resistance line (lime). If the line is crossed, the price may move a lot towards the breakout. In a few days.
Penunjuk Pine Script®
oleh ROBO_Trading
11
sDEFI Synthetix ExchangeTradingView allows combining/summing up to a maximum of only 10 tickers in its search field. Their support staff suggested I could combine up to 40 by using Pine Script, so here it is, for a specific 'basket' of crypto tokens. This study displays the combination of price history for Synthetix Exchange’s sDEFI index. Tokens included in the index are COMP, MKR, KNC, SNX, ZRX, REP, LEND, REN, LRC, BNT, BAL and UMA. You will see the prices only go back as far as July 31st 2020, which is when the most recent of the compilation (UMA) started its trading history on TradingView. (The study can only display prices for days that *all* the tickers were trading.) The price history will display as a study, below an existing chart. You will need to resize the windows, to see this study at a larger size. (Grab the window border and move it up, once you have added this study to a chart) Unfortunately you will not be able to interact with it like a normal chart, i.e. drawing trendlines, adding moving averages, notes or annotations, etc. May I suggest you send a support request to TradingView, asking for them to allow us to enter more than 10 (perhaps up to 40) tickers with + symbol between them, in the search field, which gives a ‘proper’ chart to analyse? Please note that when publishing this script, I was required to choose a category from a list that does not contain a relevant category. Given that I had to choose something from the list to proceed, I used 'Support and Resistance', since chartists can see S and R levels by looking at this study. I trust this study is useful for you sDEFI traders.
Penunjuk Pine Script®
oleh jdcreating
[KY]McClellan Summation Index RSIThis script contains McClellan Summation Index(MSI) and McClellan Oscillator(MO) (1) What is McClellan Summation Index(MSI) McClellan Summation Index(MSI) is a breadth indicator derived the McClellan Oscillator(MO), which is a breadth indicator based on Net Advances (advancing issues less declining issues). The Summation Index is simply a running total of the McClellan Oscillator values. To identify the market direction, I prefer to use the relative strength(RSI) of MSI rather than MSI itself because MSI is a summation so it's difficult to compare with previous market patterns. So I use RSI applied MSI. Reference: Stockcharts.com has a nice set of detailed explanation about MSI. school.stockcharts.com (2) How to use this script - Add this script to your chart. - You can choose one of two options ("MSI RSI" or "MO"). - You can also choose the market from three options ("Nasdaq", "NYSE", "Nasdaq+NYSE") (3) "MSI RSI" or "MO" a) "MSI RSI" For swing trade(sevelal weeks), MSI RSI is much better to identify the broad market direction. I backtested last several years of S&P500. The result was not symmetrical between MT bear/bull market. For bull side, when MSI RSI curls up from the bottom(e.g. RSI 30 level), 90% of times out of them the market rallied. For bear side, when MSI RSI rolles over to downside from the top(e.g. RSI 70 level), only 60% of times out of them the market declined. So the market tends to hit negatively diverrgent high from advancing/declining issues perspective. Be careful to use MSI oscilator. b) "MO" For short term trade(intraday, 2-3 days of holding), MO is better because MSI is a summation so lags several days. MO is quick. MO is sometimes very noisy, so you need to draw trendlines or horizontal levels to compare with the previous cases. For beginners, I recommend to use "MSI RSI".
Penunjuk Pine Script®
oleh KaibaraYuzan
11
Fractal Series History SummaryThis script presents a summarized view of a series by drawing lines between series samples taken at power-of-two intervals from the current value. The intent is to provide a visualization of trendlines at multiple scales, without having to untangle those that my overlap each other. It doesn't overlay a price-chart as written; it could, but IMHO that would be redundant. It's intended to augment oscillators and other kinds of indicators that don't necessarily scale with a price chart. The script does not attempt to provide buy or sell triggers, but rather, to provide a visualization tool and a line-drawing tech-demo.
Penunjuk Pine Script®
oleh jasonnyberg
1
VLM SpikeFeeling tired and just took a week break away from the busy and tough life. 🎊 Nothing special to mention today, just post a script I coded long time ago when I studied volume. People always underestimate the importance of volume while drawing tons of trendlines on their charts . A volume spike is a key to trading because it can tell us three messages, including the top, the bottom and the breakout. Using Bollinger Band as a proxy, we can always spot two scenarios. One ,when volume is declining below 1/2 SD of its average, price tends to move in one direction. But unusual volume above 1/2 SD of its average can reverse the original trend. Hope u find it helpful and don't forget to follow my little account!!😄
Penunjuk Pine Script®
oleh lonelygrass
6
Automatic TrendlinesIntroduction For a full free tutorial explaining this code in more detail, visit the backtest-rookies (.com) website. This indicator will plot two trend lines at any given time. A resistance trend line and a support trend line. The resistance trend is shown with red circles and is created by joining swing highs together. The second is a support trend which is created by joining swing lows. Since we need swings to make the trend, the trend line code contains code for the swing detection. You can play around with the swing detection to alter how frequently new trend lines are detected. Relying on swings also means that there will be some delay in trend detection depending on how you configure the swing detection. The higher you set rightbars, the more lag you will have before a trend is detected. However, at the same time the quality of the pivots found will increase. So it is a trade-off you need to come to terms with and decide what the best settings are for you. Lines A single trend line is made up of several components. Pivot Points: Marked as blue or orange circles. There will be two pivots per trend. Orange/Purple Lines: Connecting all pivot points. You will see these lines change direction slightly each time a new pivot is detected (new circles appear). Green/Red Circle lines: Showing the trend line from the earliest moment a new trend is detected. Blue Dashed lines: Joining the purple and green/red circle lines so the full trend line can be seen. Note: The blue dashed lines use pine-scripts drawing functions. As such, there is a limit to how many of these can be placed on a chart. When the limit is reached, the oldest line will be removed so the newest can be drawn. This means that if you detect enough trends and scroll back in time, the blue dashed lines will disappear at some point!
Penunjuk Pine Script®
oleh BacktestRookies
12
Zero Lag - ZigZag - JDThis is a alternative version of the well known "ZigZag indicator" but it uses turning points of the Jurik ma instead of the traditional "pivot points" that are by definition lagging by a large lookback period, the (almost-) Zero Lag ZigZag lags by about 2 bars on average (depending on the candles forming) The ZigZag pattern can be used to draw trendlines and S/R lines It can also be used for "wave counting" in a way that reduces interpretation. If you find other uses, please leave your ideas in the comments! Shoutout to Everget for the awesome Jurik code!! JD. #NotTradingAdvice #DYOR
Penunjuk Pine Script®
oleh Duyck
50
[New series!] [Consistent Losing Strategies] 34 EMA Scalping//---------------------------INTRO------------------------------ Hi All! Let me introduce myself as a semi-successful forex trader & lover of automation. I've taken to algo trading and have been hunting down strategies (that usually use indicators) to automate, backtest, and hopefully implement in MT4. Unfortunately, most strategies are complete bulls*** and the select cases that are shown to "prove" success are limited. These strategy sources often do not provide useful analytics either. I want to change that approach to trading! We can really benefit each other and the community by being methodical about backtesting as well as evaluating our results with some kind of scoring heuristic. As for what that standardized process looks like..well I'm still working on it. I'm pretty much on Tv for multiple hours of the day, screening strategies via Pinescript and I'd like to start sharing my progress! This is a new series I'd like to start on consistently losing strategies. I'll make all the code public, so if you think I've made a blunder or approached a problem the wrong way, then drop me a DM or paste your fix into the comments. //---------------------------STRAT------------------------------ 34 EMA Scalping strategy (ref. forextradingstrategies4u ) How you're supposed to trade it: BUY: 1. Market is in an down trend as shown by the 34 EMA 2. Price breaks above a downwards trend line 3. Price breaks above the 34 EMA 4. Look for a very bullish candlestick or chart pattern SELL: 1. Look for the 34 EMA to show we are in an uptrend 2. Price breaks below an upwards sloping trend line 3. Price breaks below 34 EMA 4. Look for a bearish candlestick or a chart pattern //---------------------------CONC------------------------------ Q: Why does it fail? A: I believe this strategy relies too much on subjective input (aka, trendlines). Q: Why does it fail as an algo? A: The 34 EMA is no more predictive than any other EMA, although it does a good job at filtering out noise. Q: Should I try it out? A: No, it's trash. This is the proof that it is trash.
Strategi Pine Script®
oleh DasanC
3
Daily 9 EMA Plotted at Other Than Daily Time Frame Credit to the great @Zoen Triste for his original script at: I just amend it for the Daily, 4H and other time frames. The main function of the Daily 9EMA (pink line) is to easily distinguish the big trend. It is also for multi time frames dynamic support / resistance when trading using tf lower than Daily, without having to toggle between the time frames. Everything is there at a single time frame chart. I like to day trade and switch to swing trade when there is a solid setup for it. To be able to do that, I use 15mins tf together with the Daily 9EMA, 4H 34EMA and 4H 21EMA. How to trade using this setup? First of all, if price is below the pink line (Daily 9EMA), it means the big trend is downtrend (and vice versa). When price retrace and reach the blue (4H 21EMA) or black (4H 34EMA) or the pink (Daily 9EMA) line (look at the red arrows), if there is bearish divergence / slingshot at the MACD's histogram together with a reversal candle such as pin bar (shooting star), dark cloud cover or bearish engulf, it's a short setup. We don't need to put the Stop Loss immediately. We can wait for the price to resume in the direction of the big trend to trail the SL. I do add up daily and weekly pivots and trendlines for additional support / resistance for greater confidence. If the above setup occurs at certain pivots and trendline, we'll have a very high probability setup. Please see the zoomed-in chart as below: When price is above the pink line, the setup is just the opposite. My conclusion: When day trading using this setup at smaller time frames such as 15mins, we don't have to toggle between 4H and 15min time frames to see where is the EMA21 and EMA34 at 4H for the moment. It's like we are able to see a microscopic and bird's eye views at the same time using a single time frame chart.
Penunjuk Pine Script®
oleh TheDemonTrader
4