Descending Inv. Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws descending inverse head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Descending Inverse Head and Shoulders Patterns
Descending inverse head and shoulders patterns are generally characterised by three troughs with the one in the middle being the lowest of the three and the third trough being lower than the first. Similarly, the two peaks that connect the three troughs are also descending, with the second peak, or right shoulder peak, being lower than the preceding peak, or left shoulder peak.
The current peak acts as neckline resistance and the trendline drawn from the preceding peak to current peak acts as dynamic neckline resistance.
Traders typically look for breakouts of descending head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
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Descending Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws descending head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Descending Head and Shoulders Patterns
Descending head and shoulders patterns are generally characterised by three peaks with the one in the middle being the highest of the three and the third peak being lower than the first. Similarly, the two troughs that connect the three peaks are also descending, with the second trough, or right shoulder trough, being lower than the preceding trough, or left shoulder trough.
The current trough acts as neckline support and the trendline drawn from the preceding trough to current trough acts as dynamic neckline support.
Traders typically look for breakouts of descending head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Ascending Inv. Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws ascending inverse head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Ascending Inverse Head and Shoulders Patterns
Ascending inverse head and shoulders patterns are generally characterised by three troughs with the one in the middle being the lowest of the three and the third trough being higher than the first. Similarly, the two peaks that connect the three troughs are also ascending, with the second peak, or right shoulder peak, being higher than the preceding peak, or left shoulder peak.
The current peak acts as neckline resistance and the trendline drawn from the preceding peak to current peak acts as dynamic neckline resistance.
Traders typically look for breakouts of ascending inverse head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Ascending Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws ascending head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Ascending Head and Shoulders Patterns
Ascending head and shoulders patterns are generally characterised by three peaks with the one in the middle being the highest of the three and the third peak being higher than the first. Similarly, the two troughs that connect the three peaks are also ascending, with the second trough, or right shoulder trough, being higher than the preceding trough, or left shoulder trough.
The current trough acts as neckline support and the trendline drawn from the preceding trough to current trough acts as dynamic neckline support.
Traders typically look for breakdowns of ascending head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Wedge Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws wedge patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Wedge Patterns
Wedge patterns are generally characterised by converging trend lines drawn from four points that form a triangle, or wedge shape. Traders typically look for breakouts or breakdowns of wedge patterns to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Projections
• Pattern Color
• Extend Current Pattern Lines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
A New Adaptive Moving Average [CC]The New Adaptive Moving Average was created by Scott Cong (Stocks and Commodities Mar 2023) and his idea was to focus on the Adaptive Moving Average created by Perry Kaufman and to try to improve it by introducing a concept of effort vs results. In this case the effort would be the total range of the underlying price action since each bar is essentially a war of the bulls vs the bears. The result would be the total range of the close so we are looking for the highest close and lowest close in that same time period. This gives us an alpha that we can use to plug into the Kaufman Adaptive Moving Average algorithm which gives us a brand new indicator that can hug the price just enough to allow us to ride the stock up or down. I have color coded it to be darker colors when it is a strong signal and lighter colors when it is a normal signal. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Linear Average PriceWhat is "Linear Average Price"?
"Linear Average Price" is both a trend and an overbought oversold indicator .
What it does?
it creates a trendline and trading zones.
How it does it?
To create the trend line, it averages the difference between each data and chooses it as the slope of the line it creates. then it positions this line so that it passes right through the middle of the data at hand. It uses standard deviation to create trading zones.
How to use it?
It can be used both to have an idea about the trend direction and to determine buy-sell zones. You can choose how many candles the indicator will calculate from the "lenght" section. The "range" part is the coefficient of the standard deviation and can be used to expand or collapse zones.
FIBS S/R IndicatorHello,
I've decided to publish a new script. The previous version of this script was removed by admins for breaking community rules.
So I present to you the Fibonacci Support / Resistance.
1. How does it work
Ratio plots
I first take the input of pivot look back and search for pivots high and low.
And then it takes a second look back to search highest high and lowest low to establish the top bottom range.
Then using the top and bottom I plot ratios provided as input. Defaults to most relevant 5 ratios I've found (Fibonacci):
Ratio 0 = 0 - can't be changed
Ratio 1 = 0.5
Ratio 2 = 0.618
Ratio 3 = 1
Ratio 4 = 1.618
Ratio 5 = 2.618
Any changes done to these ratios should be in order, otherwise conditions could get messed up. So R1 needs to the lowest and R5 the highest.
Also the same ratios are used in reverse as negative ratios.
There is a option to plot all ratios but gets really confusing for me but maybe for you it works. By default there are certain conditions set so that as we go up new resistance ratio get displayed and as we go down we see new resistance plots.
Trendlines
I've also added some automatic trendline plots with breakout warning labels based on the pivots high and low. Start and end for trendlines can be changed via inputs.
Labels can be deactivated via input. On a older version the trendlines and labels where not removed from the chart but I felt like there was to much information.
Overcooked/Undercooked
I've also added some fills and background colors that indicate if the price action is over R5 or under Negative R5 ratios. This usually indicates some "overcooking" or "undecooking".
I've notices that after "crossunder"/"crossover" top bottom ratios it goes in consolidation or it dumps. So then I plot a bgcolor to signal that.
2. How to use it
Using plot lines we can determine where we have support and resistance. I found that the best way to use the default ratios values is on the 1H chart. Very good for trading on crypto because of current situation in the market where there is a lot of new people entering the space and volatility and sentiment make swings respect the Fibonacci ratios.
3. Examples
For instance lets look at BINANCE:BTCUSDT .
On the left we see that the price action between 20 and 21 February was "overcooked". So after we got the signal that we "crossunder" the R5 the signal was triggered and we got a small red candle followed by a small dip and after that we got a small bounce and a dump.
If we also look at MF-RSI we can also see we got multiple bear divs.
Lets entertain the idea that we went short at ~57.1k as soon as we get signaled and it starts dumping.
Where does it stop ?
We can see it went all the way down to Negative R5 ratio. Normally that should signal "undercooking" but this was not triggered as it did not close under it (signaled in green).
We can also see that previous support now becomes resistance (signaled in red).
If we take a look at BINANCE:ETHUSDT , we do see that the "undercooking" was triggered here.
I will be publishing a more detailed Idea with examples of using this on the BINANCE:BTCUSDT chart in combination with Volume and other technical analysis.
Use with caution, this is not 100% signal indicator as the markets do what they want. But by using this in combination with other indicators like MF-RSI, EMAs and regular patterns we can get some targets for Support/Resistance.
I'm trying to create a strategy based on this indicator but I'm not getting very good results. Best results were on the 15 min chart with gross profits around ~50%.
Please try to play around with the inputs and let me know if you find something interesting, maybe I can incorporate new features in the indicator.
You can find the MF-RSI indicator here
Trend LineBasic Trend Line base on fractals (v0.1)
Can not draw a line on the future X axis, So just a line segment but not a ray.
I don't have a better idea to upgrade...
Trend SniperThis is a leading indicator showing wave reversal points.
By drawing trendlines on this indicator you can quickly see a break of the trendline before the break on a price chart trendline.
Manually draw trendlines on the indicator to form an uptrend or downtrend.
A break down of the upward trendline gives a sell signal.
A break up of the downward trendline gives a buy signal.
Also included an extra timeframe (Blue Line) to give a bigger perspective from different timeframes. You can choose your own different timeframe that can be lower or higher than your current price chart timeframe.
For example: Place your chart on 1H and draw your trendlines on the indicator. Set the extra timeframe to 4H of 1D to see the overall trend and motion.
By using this indicator the way we suggest, you will be able to get good trend continuation signals
Noro's SILA v1.2Noro's SILA v1.2 - these are 5 trend indicators in 1, for the sake of better accuracy.
Added:
1) Settings
2) Arrows
Noro's SILA v1.2 uses 5 trend indicators:
1) SuperTrend
2) DI Plus-Minus
3) WOW trend indicator (my idea)
4) BarColor indicator (my idea)
5) BestMA (or "BMA") indicator (my idea)
The user can switch-off any indicator from 5 to achieve big accuracy.
How does it work?
Each indicator from 5 defines a trend in own way. If two indicators report that there will be a uptrend, and three others the indicator report that there will be a downtrend - it is downtrend (a red background).
For an example
Now SuperTrend = uptrend = +1
Now DI Plus-Minus = downtrend = -1
Now WOW trend indicator = downtrend = -1
Now BarColor indicator = downtrend = -1
Now BestMA (or "BMA") indicator = uptrend = +1
Sum = + 1 - 1 - 1 - 1 + 1 = -1 = downtrend
If sum > 0 = uptrend
Sensivity
The user himself chooses what there will be a sensitivity (in settings).
If sensivity = 3:
sum > or = 3 - uptrend
sum < or = -3 - downtrend
sum > -3 and < 3 - NA-color of background
Trendlines
3 lower trendlines (blue plots) is "sum+3"
5 upper trendlines is "sum-5"
etc
Settings:
1) sensivity - you see above
2) distance - distance between the price and lines (for convenience)
TrendLine CrossThis indicator "TrendLine Cross", is designed to plot trend lines so you can spot potential trend reversal points on the charts. The main function is to draw several lines on the chart and identify the crossings between these lines, which can be significant indicators for trading. The lines are based on different periods which can be changed in the settings tabs.
Let's see the characteristics of the trend lines:
_Low Line Color(Green Line): This line connects the lowest point of low prices in the "low_time" period with the lowest point of low prices in the "high_time" period. Indicates a possible short-term support level on the chart.
_Liquidity Up Line Color (Golden Line): This line connects the lowest point of low prices in the "low_time" period with the highest point of low prices in the same period. It represents a liquidity zone and an important resistance in the chart.
_Lower Line Color (Blue Line): This horizontal line connects the lowest point of low prices in the "LowerLine_period" with the lowest point of low prices in the "high_time" period. Indicates a possible long-term support level.
_Upper Line Colorr: This line represents a connection between the highest points of the "high_time" period and the lowest point of the "LowerLine_period". Indicates a possible long-term resistance level.
_Up Line Color (Red Line): This line connects the highest point of high prices in the "high_time" period with the highest point of high prices in the "LowerLine_period". It represents a possible long-term resistance level.
_Liquidity Down Line Color(Golden Line): This line connects the highest point of high prices in the "high_time" period with the highest point of low prices in the "low_time" period. It represents a liquidity point and an important support zone.
The indicator becomes particularly interesting when the lines make crossings. These crossovers could suggest a potential trend change in the market. For example:
Change from Bearish to Bullish: If the "long-term" line (black) crosses the "short- or long-term" line (green or blue) from top to bottom, it could indicate a shift from a bearish to a bullish market , suggesting the opportunity for long positions.
_Changing from Bullish to Bearish: If the "long-term" line (blue) crosses the "short-term" line (red or black) from bottom to top, it could indicate a shift from a bullish to a bearish market, suggesting the opportunity for short positions.
Generally speaking, crossings between these lines can be key points of interest for traders, as they can signal significant changes in price direction.
Pivot Point Trend LineThis Indicator simply draw lines between high pivot points and low points.
in the code by default its used tradingview default ta.pivothigh and ta.pivotlow function to get the high and low points.
it will generate recent 4 lines of high and low pivot points.
you can change the no of days for both highs and lows pivot points.
this script is not generating any buy or sell signals its just autodraw and connect 2 pivot points. so you dont have to do it manually.
Donchian Channels [Gu5]█ OVERVIEW
I changed the design of the classic indicator "Donchian Channels", for easy reading.
█ CONCEPTS
Donchian Channels is an indicator made up of upper and lower bands around a mid-band or Basis.
The upper band marks the highest price of a security for N periods, while the lower band marks the lowest price of a security for N periods. The area between the upper and lower bands.
In this version, when there are new Higher High (HH), the trend is Bullish and the channel is painted green.
When there are new Lower Low (LL), the trend is Bearish and the channel is painted Red
█ OTHER SECTIONS
A plus in this script: When there are no new highs or new lows, there is no certain trend
The channel is painted yellow
www.tradingview.com
• HOW TO USE
Menu "Display"
• '■ Basis On/Off': Shows the midline Basis
• '■ Alert On/Off': Shows alerts labels
• '■ Fill On/Off': Paint the entire channel the color of the trend
• '■ Bar Color On/Off': Paint the candle the color of the trend
• '■ Close Alert On/Off': Shows alerts end of trend
• NOTES:
This code was written using the recommendations from the Pine Script™ User Manual's Style Guide
• RAMBLINGS:
You can use the "Basis" line as Trailing Stop.
• THANKS:
Donchian Channels developed by Richard Donchian
and many MANY thanks to @PineCoders
Faytterro Market Structerethis indicator creates the market structure with a little delay but perfectly. each zigzag is always drawn from highest to lowest. It also signals when the market structure is broken. signals fade over time.
The table above shows the percentage distance of the price from the last high and the last low.
zigzags are painted green when making higher peaks, while lower peaks are considered downtrends and are painted red. In fact, the indicator is quite simple to understand and use.
"length" is used to change the frequency of the signal.
"go to past" is used to see historical data.
Please review the examples:
Smart RSI Divergence PRO | Auto Lines + Alerts
Smart RSI Divergence PRO
This indicator automatically finds RSI divergences on price charts:
🔹 Detects both regular & hidden divergences
🔹 Draws auto trendlines connecting swing highs & lows
🔹 Clear triangle labels directly on the chart
🔹 Ready-to-use alerts for your strategy
Use it to spot potential trend reversals and hidden continuation signals.
How it works
Regular Divergence: Price makes a higher high (or lower low) while RSI does not — this can signal a possible trend reversal.
Hidden Divergence: Price makes a lower high (or higher low) while RSI makes a higher high (or lower low) — this can signal a possible trend continuation in the same direction.
Auto Lines & Labels
The script automatically detects local swing highs and lows and draws connecting trendlines on price.
Labels appear on the chart as colored triangles, so signals are easy to see at a glance:
🔻 Red triangle — Regular Bearish Divergence (potential short)
🟠 Orange triangle — Hidden Bearish Divergence (possible trend continuation down)
🟢 Green triangle — Regular Bullish Divergence (potential long)
🔵 Blue triangle — Hidden Bullish Divergence (possible trend continuation up)
Customization
You can adjust:
RSI length
Show/hide regular or hidden divergences
Show/hide auto lines and labels
Customize line width and transparency
Works on any market and any timeframe — crypto, forex, indices, stocks.
⚠️ Disclaimer: This script is for educational purposes only and does not constitute financial advice. Always test any strategy thoroughly and trade at your own risk.
Trendline Breakouts With Volume Strength [TradeDots]Trendline Breakouts With Volume Strength is an innovative indicator designed to identify potential market turning points using pivot-based trendline detection and volume confirmation. By merging dynamic trendline analysis with multi-tiered volume filters, this tool helps traders quickly spot breakouts or breakdowns that may signal significant shifts in price action.
📝 HOW IT WORKS
1. Pivot-Based Trendline Detection
The script automatically scans for recent pivot highs and lows over a user-defined lookback period.
When it finds higher pivot lows, it plots green uptrend lines; when it finds lower pivot highs, it plots red downtrend lines.
These dynamic lines update as new pivots form, providing continuously refreshed trend guidance.
2. Volume Ratio Analysis
A moving average of volume is compared against the current bar’s volume to calculate a ratio (e.g., 1.5×, 2×).
Higher ratios suggest above-average volume, often interpreted as stronger participation.
The script applies color-coded cues to highlight the intensity of volume surges.
3. Breakout & Breakdown Detection
Each trendline is monitored for a defined “break threshold,” which helps avoid minor penetrations that can trigger premature signals.
When price closes beyond a threshold below an uptrend line, the indicator labels it a “BREAKDOWN.” If it closes above a threshold on a downtrend line, it labels it a “BREAKOUT.”
Volume surges accompanying these breaks are highlighted with contextual emojis and distinct color gradients for quick visual reference.
4. Trend Direction Table
A small on-chart table provides a snapshot of the current market trend—Uptrend, Downtrend, or Sideways—based on a simple moving average slope and the number of active uptrend or downtrend lines.
This table also displays quick stats on how many lines are actively tracked, helping traders assess the broader market posture at a glance.
🛠️ HOW TO USE
1. Choose a Timeframe
This script works on multiple timeframes. Intraday traders can monitor minute or hourly charts for frequent pivot updates, while swing and position traders may prefer daily or weekly intervals to reduce noise.
2. Observe Trendlines & Labels
Watch for newly drawn green/red lines connecting pivots.
When you see a “BREAKOUT” or “BREAKDOWN” label, confirm whether volume was abnormally high based on the ratio or color-coded bars.
3. Consult the Trend Table
Use the table in the bottom-right corner to quickly check if the market is trending or range-bound.
Look at the count of active uptrend vs. downtrend lines to gauge broader sentiment.
4. Employ Additional Analysis
Combine these signals with other tools (e.g., candlestick patterns, oscillators, or fundamental analysis).
Validate potential breakouts using standard techniques like retests or support/resistance checks.
❗️LIMITATIONS
Delayed Pivots: Trendlines only adjust once new pivot highs or lows form, which can introduce a slight lag in highly volatile environments.
Choppy Markets: Rapid, back-and-forth price moves may produce conflicting trendline signals and frequent breakouts/breakdowns.
Volume Data Reliability: Gaps in volume data or unusual market conditions (holidays, low-liquidity sessions) can skew ratio readings.
RISK DISCLAIMER
Trading any financial instrument involves substantial risk, and this indicator does not guarantee profits or prevent losses. All signals and visual cues are for educational and informational purposes only; past performance does not assure future outcomes. You retain full responsibility for your trading decisions, including proper risk management, position sizing, and the use of additional confirmation methods. Always consider the possibility of losing some or all of your original investment.
The Traders Support & Resistance LevelsThis script automatically detects pivot-based support and resistance levels and draws dynamic trendlines based on recent price action.
🔹 Support & Resistance Levels
Pivot points are calculated using customizable left/right bar logic. A pivot high (or low) is confirmed when leftBars candles to the left and rightBars candles to the right are lower (or higher).
Triangles are plotted when a level is confirmed:
🔻 🟡 Yellow Down Triangle = Confirmed Resistance
🔺 🟣 Purple Up Triangle = Confirmed Support
Lines are drawn at confirmed levels.
If enough lines are confirmed, the oldest one is converted into a zone using a thick, semi-transparent line.
🔹 Trendline Logic
Trendlines are drawn between the last two support points (for uptrend) and last two resistance points (for downtrend).
The slope and price relationship determine trend strength, visualized by color:
Condition Color Meaning
Uptrend + Price Above + Steep 🟨 Yellow Strong Uptrend
Uptrend + Price Above 🔷 Blue Weak Uptrend
Downtrend + Price Below + Steep 💗 Fuchsia Strong Downtrend
Downtrend + Price Below 🟣 Purple Weak Downtrend
Otherwise ⚪️ Gray Neutral / No Trend
⚙️ Customizable Inputs
leftBars, rightBars: Adjust sensitivity of pivot detection
previewBars: Show early "draft" lines before confirmation
volumeThresh: Reserved for future enhancements
PowerHouse SwiftEdge AI v2.10 with Custom Filters & AI AnalysisPowerHouse SwiftEdge AI v2.10 with Custom Filters & AI Analysis
Overview
PowerHouse SwiftEdge AI v2.10 is an advanced TradingView Pine Script indicator designed to identify high-probability trading setups by combining pivot-based structure analysis, multi-timeframe trend detection, and adaptive AI-driven signal filtering. The script integrates Change of Character (CHoCH) and Break of Structure (BOS) signals with customizable momentum, volume, breakout, and trend filters to enhance trade precision. Additionally, it offers an optional AI Market Analysis module that predicts future price trends across multiple timeframes, providing traders with a comprehensive market outlook.
The script is highly customizable, allowing users to tailor inputs to their trading style, whether for scalping, swing trading, or long-term strategies. It is suitable for all asset classes, including stocks, forex, crypto, and commodities, and performs optimally on timeframes ranging from 1-minute to daily charts.
Key Features
Pivot-Based Signal Generation:
Identifies pivot highs and lows to detect CHoCH (reversal patterns) and BOS (continuation patterns).
Signals are plotted as "Buy" or "Sell" labels with optional "Get Ready" pre-signals to prepare traders for potential setups.
Take-profit (TP) levels are automatically calculated based on user-defined points, with optional TP box visualization.
Multi-Timeframe Trend Analysis:
Analyzes trends across seven timeframes (1M, 5M, 15M, 30M, 1H, 4H, D) using EMA and VWAP to determine bullish, bearish, or neutral conditions.
Displays a futuristic AI-Trend Matrix dashboard showing trend direction, strength, and confidence levels for quick decision-making.
Customizable Signal Filters:
Momentum Filter: Ensures signals align with significant price changes, adjusted dynamically using ATR-based volatility.
Higher Timeframe Trend Filter: Requires signals to align with the trend of a user-selected higher timeframe (e.g., 1H).
Lower Timeframe Trend Filter: Prevents signals that conflict with the trend of a user-selected lower timeframe (e.g., 5M).
Volume Filter: Optionally requires above-average volume to confirm signals.
Breakout Filter: Optionally requires price to break previous highs/lows for signal validation.
Repeated Signal Restriction: Prevents consecutive signals in the same trend direction until the trend changes on a user-defined timeframe.
AI-Driven Adaptivity:
Incorporates Cumulative Volume Delta (CVD) to assess buying/selling pressure and classify market volatility (Low, Medium, High).
Uses ATR to dynamically adjust momentum thresholds, ensuring signals adapt to current market conditions.
Optional AI Market Analysis module predicts trends across multiple timeframes by combining trend, momentum, and volatility scores.
Visual Elements:
Plots CHoCH and BOS levels as horizontal lines with distinct colors (aqua for CHoCH sell, lime for CHoCH buy, fuchsia for BOS sell, teal for BOS buy).
Draws dynamic support and resistance trendlines based on short and long-term price action, colored by trend strength.
Displays TP levels and pivot highs/lows for easy reference.
How It Works
The script combines several technical analysis concepts to create a robust trading system:
Market Structure Analysis:
Pivot highs and lows are identified using a user-defined lookback period (Pivot Length).
CHoCH occurs when price crosses below a pivot high (bearish reversal) or above a pivot low (bullish reversal).
BOS occurs when price breaks a previous pivot low (bearish continuation) or pivot high (bullish continuation).
Trend and Momentum Integration:
Trends are determined by comparing price to EMA and VWAP on multiple timeframes.
Momentum is calculated as the percentage price change, with thresholds adjusted by ATR to account for volatility.
"Get Ready" signals appear when momentum approaches the threshold, preparing traders for potential CHoCH or BOS signals.
Signal Filtering:
Filters ensure signals align with user-defined criteria (e.g., trend direction, volume, breakouts).
The Restrict Repeated Signals option prevents over-signaling by requiring a trend change on a specified timeframe before generating a new signal in the same direction.
AI Market Analysis:
The optional AI module calculates a score for each timeframe based on trend direction, momentum, and volatility (ATR compared to its SMA).
Scores are translated into predictions (▲ for bullish, ▼ for bearish, — for neutral), displayed in a dedicated table.
CVD and Volatility Context:
CVD tracks buying vs. selling pressure by accumulating volume based on price direction.
Volatility is classified using CVD magnitude, influencing the script’s visual cues and signal sensitivity.
Why This Combination?
The integration of pivot-based structure analysis, multi-timeframe trend filtering, and AI-driven adaptivity addresses common trading challenges:
Precision: CHoCH and BOS signals focus on key market turning points, reducing noise from minor price fluctuations.
Context: Multi-timeframe analysis ensures trades align with broader market trends, improving win rates.
Adaptivity: ATR and CVD adjustments make the script responsive to changing market conditions, avoiding static thresholds that fail in volatile or quiet markets.
Customization: Extensive input options allow traders to adapt the script to their preferred markets, timeframes, and risk profiles.
Predictive Insight: The AI Market Analysis module provides forward-looking trend predictions, helping traders anticipate market moves.
This combination creates a self-contained system that balances responsiveness with reliability, making it suitable for both novice and experienced traders.
How to Use
Add to Chart:
Apply the indicator to your TradingView chart for any asset and timeframe.
Recommended timeframes: 5M to 1H for scalping/day trading, 4H to D for swing trading.
Configure Inputs:
Pivot Length: Adjust (default 5) to control sensitivity to pivot highs/lows. Lower values for faster signals, higher for stronger confirmations.
Momentum Threshold: Set the minimum price change (default 0.01%) for signals. Increase for stricter conditions.
Take Profit Points: Define TP distance (default 10 points). Adjust based on asset volatility.
Signal Filters: Enable/disable filters (momentum, trend, volume, breakout) to match your strategy.
Higher/Lower Timeframe: Select timeframes for trend alignment (e.g., 1H for higher, 5M for lower).
AI Market Analysis: Enable for predictive trend insights across timeframes.
Get Ready Signals: Enable to see pre-signals for potential setups.
Interpret Signals:
Buy/Sell Labels: Act on green "Buy" or red "Sell" labels, confirming with TP levels and trend direction.
Get Ready Labels: Yellow "Get Ready BUY" or orange "Get Ready SELL" indicate potential setups; prepare but wait for confirmation.
CHoCH/BOS Lines: Use aqua/lime (CHoCH) and fuchsia/teal (BOS) lines as key support/resistance levels.
AI-Trend Matrix: Check the top-right dashboard for trend strength (%), confidence (%), and timeframe-specific trends.
AI Market Analysis Table: If enabled, view predictions (▲/▼/—) for each timeframe to anticipate market direction.
Trading Tips:
Combine signals with other indicators (e.g., RSI, MACD) for additional confirmation.
Use higher timeframe trend alignment for higher-probability trades.
Adjust TP and signal distance based on asset volatility and trading style.
Monitor the AI-Trend Matrix for trend strength; values above 50% or below -50% indicate strong directional bias.
Originality
PowerHouse SwiftEdge AI v2.10 stands out due to its unique blend of:
Adaptive Signal Generation: ATR-based momentum thresholds and CVD-driven volatility context ensure signals remain relevant across market conditions.
Multi-Timeframe Synergy: The script’s ability to filter signals based on both higher and lower timeframe trends provides a rare balance of precision and context.
AI-Powered Insights: The AI Market Analysis module offers predictive capabilities not commonly found in traditional indicators, simulating institutional-grade analysis.
Visual Clarity: The futuristic dashboard and color-coded trendlines make complex data accessible, enhancing usability for all trader levels.
Unlike standalone pivot or trend indicators, this script integrates multiple layers of analysis into a cohesive system, reducing false signals and providing actionable insights without requiring external tools or research.
Limitations
False Signals: No indicator is foolproof; signals may fail in choppy or low-volume markets. Use filters to mitigate.
Timeframe Sensitivity: Performance varies by timeframe and asset. Test settings thoroughly.
AI Predictions: The AI Market Analysis is based on historical data and simplified scoring; it’s not a guaranteed forecast.
Resource Usage: Enabling all filters and AI analysis may slow performance on lower-end devices.
GIGANEVA V6.61 PublicThis enhanced Fibonacci script for TradingView is a powerful, all-in-one tool that calculates Fibonacci Levels, Fans, Time Pivots, and Golden Pivots on both logarithmic and linear scales. Its ability to compute time pivots via fan intersections and Range interactions, combined with user-friendly features like Bool Fib Right, sets it apart. The script maximizes TradingView’s plotting capabilities, making it a unique and versatile tool for technical analysis across various markets.
1. Overview of the Script
The script appears to be a custom technical analysis tool built for TradingView, improving upon an existing script from TradingView’s Community Scripts. It calculates and plots:
Fibonacci Levels: Standard retracement levels (e.g., 0.236, 0.382, 0.5, 0.618, etc.) based on a user-defined price range.
Fibonacci Fans: Trendlines drawn from a high or low point, radiating at Fibonacci ratios to project potential support/resistance zones.
Time Pivots: Points in time where significant price action is expected, determined by the intersection of Fibonacci Fans or their interaction with key price levels.
Golden Pivots: Specific time pivots calculated when the 0.5 Fibonacci Fan (on a logarithmic or linear scale) intersects with its counterpart.
The script supports both logarithmic and linear price scales, ensuring versatility across different charting preferences. It also includes a feature to extend Fibonacci Fans to the right, regardless of whether the user selects the top or bottom of the range first.
2. Key Components Explained
a) Fibonacci Levels and Fans from Top and Bottom of the "Range"
Fibonacci Levels: These are horizontal lines plotted at standard Fibonacci retracement ratios (e.g., 0.236, 0.382, 0.5, 0.618, etc.) based on a user-defined price range (the "Range"). The Range is typically the distance between a significant high (top) and low (bottom) on the chart.
Example: If the high is $100 and the low is $50, the 0.618 retracement level would be at $80.90 ($50 + 0.618 × $50).
Fibonacci Fans: These are diagonal lines drawn from either the top or bottom of the Range, radiating at Fibonacci ratios (e.g., 0.382, 0.5, 0.618). They project potential dynamic support or resistance zones as price evolves over time.
From Top: Fans drawn downward from the high of the Range.
From Bottom: Fans drawn upward from the low of the Range.
Log and Linear Scale:
Logarithmic Scale: Adjusts price intervals to account for percentage changes, which is useful for assets with large price ranges (e.g., cryptocurrencies or stocks with exponential growth). Fibonacci calculations on a log scale ensure ratios are proportional to percentage moves.
Linear Scale: Uses absolute price differences, suitable for assets with smaller, more stable price ranges.
The script’s ability to plot on both scales makes it adaptable to different markets and user preferences.
b) Time Pivots
Time pivots are points in time where significant price action (e.g., reversals, breakouts) is anticipated. The script calculates these in two ways:
Fans Crossing Each Other:
When two Fibonacci Fans (e.g., one from the top and one from the bottom) intersect, their crossing point represents a potential time pivot. This is because the intersection indicates a convergence of dynamic support/resistance zones, increasing the likelihood of a price reaction.
Example: A 0.618 fan from the top crosses a 0.382 fan from the bottom at a specific bar on the chart, marking that bar as a time pivot.
Fans Crossing Top and Bottom of the Range:
A fan line (e.g., 0.5 fan from the bottom) may intersect the top or bottom price level of the Range at a specific time. This intersection highlights a moment where the fan’s projected support/resistance aligns with a key price level, signaling a potential pivot.
Example: The 0.618 fan from the bottom reaches the top of the Range ($100) at bar 50, marking bar 50 as a time pivot.
c) Golden Pivots
Definition: Golden pivots are a special type of time pivot calculated when the 0.5 Fibonacci Fan on one scale (logarithmic or linear) intersects with the 0.5 fan on the opposite scale (or vice versa).
Significance: The 0.5 level is the midpoint of the Fibonacci sequence and often acts as a critical balance point in price action. When fans at this level cross, it suggests a high-probability moment for a price reversal or significant move.
Example: If the 0.5 fan on a logarithmic scale (drawn from the bottom) crosses the 0.5 fan on a linear scale (drawn from the top) at bar 100, this intersection is labeled a "Golden Pivot" due to its confluence of key Fibonacci levels.
d) Bool Fib Right
This is a user-configurable setting (a boolean input in the script) that extends Fibonacci Fans to the right side of the chart.
Functionality: When enabled, the fans project forward in time, regardless of whether the user selected the top or bottom of the Range first. This ensures consistency in visualization, as the direction of the Range selection (top-to-bottom or bottom-to-top) does not affect the fan’s extension.
Use Case: Traders can use this to project future support/resistance zones without worrying about how they defined the Range, improving usability.
3. Why Is This Code Unique?
Original calculation of Log levels were taken from zekicanozkanli code. Thank you for giving me great Foundation, later modified and applied to Fib fans. The script’s uniqueness stems from its comprehensive integration of Fibonacci-based tools and its optimization for TradingView’s plotting capabilities. Here’s a detailed breakdown:
All-in-One Fibonacci Tool:
Most Fibonacci scripts on TradingView focus on either retracement levels, extensions, or fans.
This script combines:
Fibonacci Levels: Static horizontal lines for retracement and extension.
Fibonacci Fans: Dynamic trendlines for projecting support/resistance.
Time Pivots: Temporal analysis based on fan intersections and Range interactions.
Golden Pivots: Specialized pivots based on 0.5 fan confluences.
By integrating these functions, the script provides a holistic Fibonacci analysis tool, reducing the need for multiple scripts.
Log and Linear Scale Support:
Many Fibonacci tools are designed for linear scales only, which can distort projections for assets with exponential price movements. By supporting both logarithmic and linear scales, the script caters to a wider range of markets (e.g., stocks, forex, crypto) and user preferences.
Time Pivot Calculations:
Calculating time pivots based on fan intersections and Range interactions is a novel feature. Most TradingView scripts focus on price-based Fibonacci levels, not temporal analysis. This adds a predictive element, helping traders anticipate when significant price action might occur.
Golden Pivot Innovation:
The concept of "Golden Pivots" (0.5 fan intersections across scales) is a unique addition. It leverages the symmetry of the 0.5 level and the differences between log and linear scales to identify high-probability pivot points.
Maximized Plot Capabilities:
TradingView imposes limits on the number of plots (lines, labels, etc.) a script can render. This script is coded to fully utilize these limits, ensuring that all Fibonacci levels, fans, pivots, and labels are plotted without exceeding TradingView’s constraints.
This optimization likely involves efficient use of arrays, loops, and conditional plotting to manage resources while delivering a rich visual output.
User-Friendly Features:
The Bool Fib Right option simplifies fan projection, making the tool intuitive even for users who may not consistently select the Range in the same order.
The script’s flexibility in handling top/bottom Range selection enhances usability.
4. Potential Use Cases
Trend Analysis: Traders can use Fibonacci Fans to identify dynamic support/resistance zones in trending markets.
Reversal Trading: Time pivots and Golden Pivots help pinpoint moments for potential price reversals.
Range Trading: Fibonacci Levels provide key price zones for trading within a defined range.
Cross-Market Application: Log/linear scale support makes the script suitable for stocks, forex, commodities, and cryptocurrencies.
The original code was from zekicanozkanli . Thank you for giving me great Foundation.
Geometric Momentum Breakout with Monte CarloOverview
This experimental indicator uses geometric trendline analysis combined with momentum and Monte Carlo simulation techniques to help visualize potential breakout areas. It calculates support, resistance, and an aggregated trendline using a custom Geo library (by kaigouthro). The indicator also tracks breakout signals in a way that a new buy signal is triggered only after a sell signal (and vice versa), ensuring no repeated signals in the same direction.
Important:
This script is provided for educational purposes only. It is experimental and should not be used for live trading without proper testing and validation.
Key Features
Trendline Calculation:
Uses the Geo library to compute support and resistance trendlines based on historical high and low prices. The midpoint of these trendlines forms an aggregated trendline.
Momentum Analysis:
Computes the Rate of Change (ROC) to determine momentum. Breakout conditions are met only if the price and momentum exceed a user-defined threshold.
Monte Carlo Simulation:
Simulates future price movements to estimate the probability of bullish or bearish breakouts over a specified horizon.
Signal Tracking:
A persistent variable ensures that once a buy (or sell) signal is triggered, it won’t repeat until the opposite signal occurs.
Geometric Enhancements:
Calculates an aggregated trend angle and channel width (distance between support and resistance), and draws a perpendicular “breakout zone” line.
Table Display:
A built-in table displays key metrics including:
Bullish probability
Bearish probability
Aggregated trend angle (in degrees)
Channel width
Alerts:
Configurable alerts notify when a new buy or sell breakout signal occurs.
Inputs
Resistance Lookback & Support Lookback:
Number of bars to look back for determining resistance and support points.
Momentum Length & Threshold:
Period for ROC calculation and the minimum percentage change required for a breakout confirmation.
Monte Carlo Simulation Parameters:
Simulation Horizon: Number of future bars to simulate.
Simulation Iterations: Number of simulation runs.
Table Position & Text Size:
Customize where the table is displayed on the chart and the size of the text.
How to Use
Add the Script to Your Chart:
Copy the code into the Pine Script editor on TradingView and add it to your chart.
Adjust Settings:
Customize the inputs (e.g., lookback periods, momentum threshold, simulation parameters) to fit your analysis or educational requirements.
Interpret Signals:
A buy signal is plotted as a green triangle below the bar when conditions are met and the state transitions from neutral or sell.
A sell signal is plotted as a red triangle above the bar when conditions are met and the state transitions from neutral or buy.
Alerts are triggered only on the bar where a new signal is generated.
Examine the Table:
The table displays key metrics (breakout probabilities, aggregated trend angle, and channel width) to help evaluate current market conditions.
Disclaimer
This indicator is experimental and provided for educational purposes only. It is not intended as a trading signal or financial advice. Use this script at your own risk, and always perform your own research and testing before using any experimental tools in live trading.
Credit
This indicator uses the Geo library by kaigouthro. Special thanks to Cryptonerds and @Hazzantazzan for their contributions and insights.
Heikin Ashi and Optimized Trend Tracker and PVSRA [Erebor]Heikin Ashi Candles
Let's consider a modification to the traditional “Heikin Ashi Candles” where we introduce a new parameter: the period of calculation. The traditional HA candles are derived from the open , high low , and close prices of the underlying asset.
Now, let's introduce a new parameter, period, which will determine how many periods are considered in the calculation of the HA candles. This period parameter will affect the smoothing and responsiveness of the resulting candles.
In this modification, instead of considering just the current period, we're averaging or aggregating the prices over a specified number of periods . This will result in candles that reflect a longer-term trend or sentiment, depending on the chosen period value.
For example, if period is set to 1, it would essentially be the same as traditional Heikin Ashi candles. However, if period is set to a higher value, say 5, each candle will represent the average price movement over the last 5 periods, providing a smoother representation of the trend but potentially with delayed signals compared to lower period values.
Traders can adjust the period parameter based on their trading style, the timeframe they're analyzing, and the level of smoothing or responsiveness they prefer in their candlestick patterns.
Optimized Trend Tracker
The "Optimized Trend Tracker" is a proprietary trading indicator developed by TradingView user ANIL ÖZEKŞİ. It is designed to identify and track trends in financial markets efficiently. The indicator attempts to smooth out price fluctuations and provide clear signals for trend direction.
The Optimized Trend Tracker uses a combination of moving averages and adaptive filters to detect trends. It aims to reduce lag and noise typically associated with traditional moving averages, thereby providing more timely and accurate signals.
Some of the key features and applications of the OTT include:
• Trend Identification: The indicator helps traders identify the direction of the prevailing trend in a market. It distinguishes between uptrends, downtrends, and sideways consolidations.
• Entry and Exit Signals: The OTT generates buy and sell signals based on crossovers and direction changes of the trend. Traders can use these signals to time their entries and exits in the market.
• Trend Strength: It also provides insights into the strength of the trend by analyzing the slope and momentum of price movements. This information can help traders assess the conviction behind the trend and adjust their trading strategies accordingly.
• Filter Noise: By employing adaptive filters, the indicator aims to filter out market noise and false signals, thereby enhancing the reliability of trend identification.
• Customization: Traders can customize the parameters of the OTT to suit their specific trading preferences and market conditions. This flexibility allows for adaptation to different timeframes and asset classes.
Overall, the OTT can be a valuable tool for traders seeking to capitalize on trending market conditions while minimizing false signals and noise. However, like any trading indicator, it is essential to combine its signals with other forms of analysis and risk management strategies for optimal results. Additionally, traders should thoroughly back-test the indicator and practice using it in a demo environment before applying it to live trading.
PVSRA (Price, Volume, S&R Analysis)
“PVSRA” (Price, Volume, S&R Analysis) is a trading methodology and indicator that combines the analysis of price action, volume, and support/resistance levels to identify potential trading opportunities in financial markets. It is based on the idea that price movements are influenced by the interplay between supply and demand, and analyzing these factors together can provide valuable insights into market dynamics.
Here's a breakdown of the components of PVSRA:
• Price Action Analysis: PVSRA focuses on analyzing price movements and patterns on price charts, such as candlestick patterns, trendlines, chart patterns (like head and shoulders, triangles, etc.), and other price-based indicators. Traders using PVSRA pay close attention to how price behaves at key support and resistance levels and look for patterns that indicate potential shifts in market sentiment.
• Volume Analysis: Volume is an essential component of PVSRA. Traders monitor changes in trading volume to gauge the strength or weakness of price movements. An increase in volume during a price move suggests strong participation and conviction from market participants, reinforcing the validity of the price action. Conversely, low volume during price moves may indicate lack of conviction and potential reversals.
• Support and Resistance (S&R) Analysis: PVSRA incorporates the identification and analysis of support and resistance levels on price charts. Support levels represent areas where buying interest is expected to be strong enough to prevent further price declines, while resistance levels represent areas where selling interest may prevent further price advances. These levels are often identified using historical price data, trendlines, moving averages, pivot points, and other technical analysis tools.
The PVSRA methodology combines these three elements to generate trading signals and make trading decisions. Traders using PVSRA typically look for confluence between price action, volume, and support/resistance levels to confirm trade entries and exits. For example, a bullish reversal signal may be considered stronger if it occurs at a significant support level with increasing volume.
It's important to note that PVSRA is more of a trading approach or methodology rather than a specific indicator with predefined rules. Traders may customize their analysis based on their preferences and trading style, incorporating additional technical indicators or filters as needed. As with any trading strategy, risk management and proper trade execution are essential components of successful trading with PVSRA.
The following types of moving average have been included: "SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA", "HMA", "KAMA", "LSMA", "TRAMA", "VAR", "DEMA", "ZLEMA", "TSF", "WWMA". Thanks to the authors.
Thank you for your indicator “Optimized Trend Tracker”. © kivancozbilgic
Thank you for your indicator “PVSRA Volume Suite”. © creengrack
Thank you for your programming language, indicators and strategies. © TradingView
Kind regards.
© Erebor_GIT
Dynamic Auto Trendline and S/R BlocksAuto TL & S/R Blocks by Nostalgic_92
This powerful TradingView indicator automatically identifies trendlines and support/resistance levels with dynamic transparency blocks, helping traders make informed decisions. Easily customizable, it offers adjustable parameters for lookback periods and transparency, allowing you to adapt it to your trading style.
Key Features:
Lookback Period for Extremes: The lookback period for identifying highs and lows is adjustable, allowing you to fine-tune the indicator to suit your trading strategy.
Maximum Transparency: Set the maximum transparency level to control the visibility of dynamic blocks, ensuring they adapt to market volatility.
Trend Block Color: Choose your preferred color for trendline blocks to visually highlight trend direction.
Support/Resistance Block Color: Customize the color for support and resistance blocks, making them easily distinguishable on your chart.
How it Works:
This indicator calculates the highest high and lowest low over the specified lookback period. It then draws dynamic blocks on your chart with changing transparency levels, depending on the proximity of the current price to these extremes. This visual representation helps you identify trend changes and key support/resistance levels at a glance.
Usage:
Use it in conjunction with your existing trading strategy to confirm trends and support/resistance levels.
Adjust the input parameters to match your preferred trading style and time frame.
Enhance your trading experience with the Auto Trendlines and Support/Resistance with Dynamic Blocks indicator. It's a valuable tool for traders seeking an edge in the market.
Disclaimer: This indicator is intended for educational and informational purposes only. Always conduct your own research and analysis before making trading decisions.
