waves█ OVERVIEW
This library intended for use in Bar Replay provides functions to generate various wave forms (sine, cosine, triangle, square) based on time and customizable parameters. Useful for testing and in creating oscillators, indicators, or visual effects.
█ FUNCTIONS
• getSineWave()
• getCosineWave()
• getTriangleWave()
• getSquareWave()
█ USAGE EXAMPLE
//@version=6
indicator("Wave Example")
import kaigouthro/waves/1
plot(waves.getSineWave(cyclesPerMinute=15))
█ NOTES
* barsPerSecond defaults to 10. Adjust this if not using 10x in Bar Replay.
* Phase shift is in degrees.
---
Library "waves"
getSineWave(cyclesPerMinute, bar, barsPerSecond, amplitude, verticalShift, phaseShift)
`getSineWave`
> Calculates a sine wave based on bar index, cycles per minute (BPM), and wave parameters.
Parameters:
cyclesPerMinute (float) : (float) The desired number of cycles per minute (BPM). Default is 30.0.
bar (int) : (int) The current bar index. Default is bar_index.
barsPerSecond (float) : (float) The number of bars per second. Default is 10.0 for Bar Replay
amplitude (float) : (float) The amplitude of the sine wave. Default is 1.0.
verticalShift (float) : (float) The vertical shift of the sine wave. Default is 0.0.
phaseShift (float) : (float) The phase shift of the sine wave in radians. Default is 0.0.
Returns: (float) The calculated sine wave value.
getCosineWave(cyclesPerMinute, bar, barsPerSecond, amplitude, verticalShift, phaseShift)
`getCosineWave`
> Calculates a cosine wave based on bar index, cycles per minute (BPM), and wave parameters.
Parameters:
cyclesPerMinute (float) : (float) The desired number of cycles per minute (BPM). Default is 30.0.
bar (int) : (int) The current bar index. Default is bar_index.
barsPerSecond (float) : (float) The number of bars per second. Default is 10.0 for Bar Replay
amplitude (float) : (float) The amplitude of the cosine wave. Default is 1.0.
verticalShift (float) : (float) The vertical shift of the cosine wave. Default is 0.0.
phaseShift (float) : (float) The phase shift of the cosine wave in radians. Default is 0.0.
Returns: (float) The calculated cosine wave value.
getTriangleWave(cyclesPerMinute, bar, barsPerSecond, amplitude, verticalShift, phaseShift)
`getTriangleWave`
> Calculates a triangle wave based on bar index, cycles per minute (BPM), and wave parameters.
Parameters:
cyclesPerMinute (float) : (float) The desired number of cycles per minute (BPM). Default is 30.0.
bar (int) : (int) The current bar index. Default is bar_index.
barsPerSecond (float) : (float) The number of bars per second. Default is 10.0 for Bar Replay
amplitude (float) : (float) The amplitude of the triangle wave. Default is 1.0.
verticalShift (float) : (float) The vertical shift of the triangle wave. Default is 0.0.
phaseShift (float) : (float) The phase shift of the triangle wave in radians. Default is 0.0.
Returns: (float) The calculated triangle wave value.
getSquareWave(cyclesPerMinute, bar, barsPerSecond, amplitude, verticalShift, dutyCycle, phaseShift)
`getSquareWave`
> Calculates a square wave based on bar index, cycles per minute (BPM), and wave parameters.
Parameters:
cyclesPerMinute (float) : (float) The desired number of cycles per minute (BPM). Default is 30.0.
bar (int) : (int) The current bar index. Default is bar_index.
barsPerSecond (float) : (float) The number of bars per second. Default is 10.0 for Bar Replay
amplitude (float) : (float) The amplitude of the square wave. Default is 1.0.
verticalShift (float) : (float) The vertical shift of the square wave. Default is 0.0.
dutyCycle (float) : (float) The duty cycle of the square wave (0.0 to 1.0). Default is 0.5 (50% duty cycle).
phaseShift (float) : (float) The phase shift of the square wave in radians. Default is 0.0.
Returns: (float) The calculated square wave value.
Cari dalam skrip untuk "bar"
Uptrick: EMA Trend Indicator
### Overview
The goal of this script is to visually indicate on a trading chart whether all three Exponential Moving Averages (EMAs) are trending upwards (i.e., their slopes are positive). If all EMAs are trending upwards, the script will color the bars green. If not, the bars will be colored red.
### Key Concepts
1. **Exponential Moving Average (EMA)**: An EMA is a type of moving average that places more weight on recent data, making it more responsive to price changes compared to a simple moving average (SMA). In this script, we use three different EMAs with different lengths (20, 50, and 200 periods).
2. **Slope of an EMA**: The slope of an EMA refers to the direction in which the EMA is moving. If the current value of the EMA is higher than its value in the previous bar, the slope is positive (upward). Conversely, if the current value is lower than its previous value, the slope is negative (downward).
3. **Bar Color Coding**: The script changes the color of the bars on the chart to provide a visual cue:
- **Green Bars**: Indicate that all three EMAs are trending upwards.
- **Red Bars**: Indicate that one or more EMAs are not trending upwards.
### Detailed Breakdown
#### 1. Input Fields
- **EMA Lengths**: The script starts by allowing the user to input the lengths for the three EMAs. These lengths determine how many periods (e.g., days) are used to calculate each EMA.
- `ema20_length` is set to 20, meaning the first EMA uses the last 20 bars of data.
- `ema50_length` is set to 50, meaning the second EMA uses the last 50 bars of data.
- `ema200_length` is set to 200, meaning the third EMA uses the last 200 bars of data.
#### 2. EMA Calculation
- The script calculates the values of the three EMAs:
- **EMA 20**: This is calculated using the last 20 bars of closing prices.
- **EMA 50**: This is calculated using the last 50 bars of closing prices.
- **EMA 200**: This is calculated using the last 200 bars of closing prices.
These calculations result in three values for each bar on the chart, each representing the EMA value at that point in time.
#### 3. Determining EMA Slopes
- **EMA Slopes**: To understand the trend of each EMA, the script compares the current value of each EMA to its value in the previous bar:
- For the 20-period EMA, the script checks if today’s EMA value is higher than yesterday’s EMA value.
- This process is repeated for the 50-period and 200-period EMAs.
- If today’s EMA value is greater than yesterday’s value, the slope is positive (upward).
- If today’s EMA value is not greater (it is either equal to or less than yesterday’s value), the slope is not positive.
#### 4. Evaluating All Slopes
- **All Slopes Positive Condition**: The script combines the results of the individual slope checks into a single condition. It uses a logical "AND" operation:
- The condition will be `true` only if all three EMAs (20, 50, and 200) have positive slopes.
- If any one of the EMAs does not have a positive slope, the condition will be `false`.
#### 5. Coloring the Bars
- **Bar Coloring Logic**: Based on the above condition, the script decides the color of each bar on the chart:
- If all slopes are positive (condition is `true`), the bar is colored green.
- If any slope is not positive (condition is `false`), the bar is colored red.
- **Visual Cue**: This provides a quick, visual indication to traders:
- Green bars suggest that the market is in an upward trend across all three EMAs, which might indicate a strong bullish trend.
- Red bars suggest that the trend is not uniformly upward, which could be a sign of weakening momentum or a potential reversal.
#### 6. Alerts
- **Alert Conditions**: The script also allows for alert conditions to be set based on the slope analysis:
- An alert can be triggered when all EMA slopes are positive. This might be useful for traders who want to be notified when the market shows strong upward momentum.
### Summary
- The script essentially takes the market data and applies three different EMAs to it, each with a different time frame.
- It then checks the direction (slope) of each of these EMAs to determine if they are all trending upwards.
- If they are, the script colors the bar green, signaling a potentially strong bullish trend.
- If any of the EMAs is not trending upwards, it colors the bar red, indicating a potential issue with the strength of the trend.
This approach helps traders quickly assess market conditions based on multiple EMAs, providing a clearer picture of the overall trend across different time frames.
The Strat with TFC & Combo DashIntroduction:
This indicator is designed to implement "The Strat" trading strategy combined with a Timeframe Continuity Dashboard and Combo Dashboard. The Strat is a robust trading methodology that relies on price action and candlestick formations to make trading decisions. This script helps traders to identify specific bar types such as Inside Bars (1), Continuation Up Bars (2u), Continuation Down Bars (2d), and Outside Bars (3) across multiple timeframes. It visually highlights these bar types on the chart and provides a comprehensive dashboard displaying the current state of the selected timeframes.
Key Features:
Timeframe Continuity Dashboard: Displays arrows and bar types for up to four selected timeframes.
Strat Combos Dashboard: Shows the previous and current bar types to easily spot trading setups.
Customizable Colors and Labels: Options to personalize the colors and labels for Inside and Outside bars.
Adjustable Dashboard Position and Size: Allows users to set the location and size of the dashboard for better visual alignment.
Inputs:
TFC & Combo Dash Configuration:
Show TFC & Combo Dashboard: Toggle to display the dashboard.
Show Strat Combos: Toggle to display Strat combo setups.
Location: Dropdown to select the position of the dashboard on the chart.
Size: Dropdown to choose between desktop and mobile view.
Timeframe Selection:
Timeframe 1: Primary timeframe for analysis.
Timeframe 2: Secondary timeframe for analysis.
Timeframe 3: Tertiary timeframe for analysis.
Timeframe 4: Quaternary timeframe for analysis.
Candle Visuals:
Show Inside Bar Label: Option to show label instead of color for Inside bars.
Inside Bar Color: Color picker for Inside bars.
Show Outside Bar Label: Option to show label instead of color for Outside bars.
Outside Bar Color: Color picker for Outside bars.
TFC & Combo DashboardFunctions:
The script fetches values for the selected timeframes and computes the bar types and corresponding visual elements such as arrows and background colors. The dashboard displays this information in a tabular format for easy reference during trading.
The dashboard is dynamically created based on user input for position and size. It shows the selected timeframes, bar types, and combo setups, providing a quick overview of the market conditions across multiple timeframes.
Timeframes: Displays the four user chosen timeframes that the dashboard fetches data from.
Arrow and Color: Functions to set the arrow direction and color based on current bar action. Green and up arrow: price is above it's candle open.
Red and down arrow: price is below it's candles open.
Background Color: Functions to set background color based on the bar type. White for an outside bar(3), yellow for an inside bar(1), no color for a continuation bar(2).
Strat Candle Combos: Functions to determine if the bar is an Inside(1), Continuation Up(2u), Continuation Down(2d), or Outside bar(3). Shows the previous bar and the current bar for the user's chosen timeframes.
Candle Visuals:
The script plots labels and colors for Inside and Outside bars based on user preferences. It helps in quickly identifying potential trading setups on the chart.
Conclusion:
We believe in providing user-friendly tools to help speed up traders technical analysis and implement easy trading strategies. The Strat with TFC & Combo Dashboard is a tool to assist traders in identifying potential trading setups based on The Strat methodology; to suit the users needs and trading style.
RISK DISCLAIMER
All content, tools, scripts & education provided by Gorb Algo LLC are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
VolumeSpreadAnalysisLibrary "VolumeSpreadAnalysis"
A library for Volume Spread Analysis (VSA).
spread(_barIndex)
Calculates the spread of a bar.
Parameters:
_barIndex (int) : (int) The index of the bar.
Returns: (float) The spread of the bar.
volume(_barIndex)
Retrieves the volume of a bar.
Parameters:
_barIndex (int) : (int) The index of the bar.
Returns: (float) The volume of the bar.
body(_barIndex)
Calculates the body of a bar.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (float) The body size of the bar.
wickUpper(_barIndex)
Calculates the upper wick of a bar (upper shadow).
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (float) The upper wick size of the bar.
wickLower(_barIndex)
Calculates the lower wick of a bar (lower shadow).
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (float) The lower wick size of the bar.
calcForecastedSMA(_source, _length, _forecastedLevel)
Calculates the forecasted Simple Moving Average (SMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the SMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted SMA value.
calcForecastedEMA(_source, _length, _forecastedLevel)
Calculates the forecasted Exponential Moving Average (EMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the EMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted EMA value.
calcForecastedRMA(_source, _length, _forecastedLevel)
Calculates the forecasted Relative Moving Average (RMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the RMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted RMA value.
calcForecastedWMA(_source, _length, _forecastedLevel)
Calculates the forecasted Weighted Moving Average (WMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the WMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted WMA value.
calcElapsedTimePercent()
Calculates the elapsed time percent of the current bar.
Returns: (float) The elapsed time percent.
calcForecastedSpread(multiplierAtMidpoints, multiplierAtPeaks)
Calculates the forecasted spread using elapsed time and dynamic multipliers, handling spread's non-linear nature.
Parameters:
multiplierAtMidpoints (float) : (float) The multiplier value at midpoints.
multiplierAtPeaks (float) : (float) The multiplier value at peaks.
Returns: (float) The forecasted spread value.
calcForecastedVolume()
Calculates the forecasted volume using elapsed time, satisfying volume's linear nature.
Returns: (float) The forecasted volume value.
calcForecastedMA(_source, _length, _forecastedSource, _type)
Calculates the forecasted Moving Average (MA) based on the specified type.
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the MA.
_forecastedSource (float) : (float) The forecasted level to include in the calculation.
_type (simple string) : (string) The type of the MA ("SMA", "EMA", "SMMA (RMA)", "WMA").
Returns: (float) The forecasted MA value.
calcMA(_source, _length, _type)
Calculates the Moving Average (MA) based on the specified type.
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the MA.
_type (simple string) : (string) The type of the MA ("SMA", "EMA", "SMMA (RMA)", "WMA").
Returns: (float) The MA value.
bullBar(_barIndex)
Determines if the bar is bullish.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if the bar is bullish, otherwise false.
bearBar(_barIndex)
Determines if the bar is bearish.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if the bar is bearish, otherwise false.
breakout(_barIndex)
Determines if there is a breakout above the previous bar.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if there is a breakout, otherwise false.
breakdown(_barIndex)
Determines if there is a breakdown below the previous bar.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if there is a breakdown, otherwise false.
rejectionWickUpper(_rejectionWick)
Determines if the upper wick is a rejection wick.
Parameters:
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if the upper wick is a rejection wick, otherwise false.
rejectionWickLower(_rejectionWick)
Determines if the lower wick is a rejection wick.
Parameters:
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if the lower wick is a rejection wick, otherwise false.
setupDataVolume(_data, _mult_Low, _mult_High, _mult_Ultra, _maLengthVolume, _maTypeVolume)
Sets up data for volume levels.
Parameters:
_data (map) : (map) The map to store the levels.
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthVolume (simple int) : (int) The length for MA.
_maTypeVolume (simple string) : (string) The type for MA.
Returns: (void) Nothing.
setupDataSpread(_data, _mult_Low, _mult_High, _mult_Ultra, _maLengthSpread, _maTypeSpread)
Sets up data for spread levels.
Parameters:
_data (map) : (map) The map to store the levels.
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthSpread (simple int) : (int) The length for MA.
_maTypeSpread (simple string) : (string) The type for MA.
Returns: (void) Nothing.
setupDataForecastVolume(_dataForecast, _mult_Low, _mult_High, _mult_Ultra, _maLengthVolume, _predictedLevelVolume, _maTypeVolume)
Sets up data for volume and spread levels for forecast.
Parameters:
_dataForecast (map)
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthVolume (simple int) : (int) The length for MA.
_predictedLevelVolume (float) : (float) The predicted level for MA.
_maTypeVolume (simple string) : (string) The type for MA.
Returns: (void) Nothing.
setupDataForecastSpread(_dataForecast, _mult_Low, _mult_High, _mult_Ultra, _maLengthSpread, _predictedLevelSpread, _maTypeSpread)
Sets up data for spread levels for forecast.
Parameters:
_dataForecast (map)
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthSpread (simple int) : (int) The length for MA.
_predictedLevelSpread (float) : (float) The predicted level for MA.
_maTypeSpread (simple string) : (string) The type for MA.
Returns: (void) Nothing.
isVolumeLow(_data, _barIndex)
Determines if the volume is low.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is low, otherwise false.
isVolumeNormal(_data, _barIndex)
Determines if the volume is normal.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is normal, otherwise false.
isVolumeHigh(_data, _barIndex)
Determines if the volume is high.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is high, otherwise false.
isVolumeUltra(_data, _barIndex)
Determines if the volume is ultra.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is ultra, otherwise false.
isSpreadLow(_data, _barIndex)
Determines if the spread is low.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is low, otherwise false.
isSpreadNormal(_data, _barIndex)
Determines if the spread is normal.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is normal, otherwise false.
isSpreadHigh(_data, _barIndex)
Determines if the spread is high.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is high, otherwise false.
isSpreadUltra(_data, _barIndex)
Determines if the spread is ultra.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is ultra, otherwise false.
isVolumeText(_data)
Determines text string representing the volume area level.
Parameters:
_data (map) : (map) The data map with volume levels.
Returns: (string) Text string of Low, Normal, High, or Ultra.
isSpreadText(_data)
Determines text string representing the spread area level.
Parameters:
_data (map) : (map) The data map with spread levels.
Returns: (string) Text string of Low, Normal, High, or Ultra.
calcBarColor(_value, _level)
Calculates the color based level.
Parameters:
_value (float) : (float) The value to check.
_level (float) : (float) The value level for comparison.
Returns: (color) The color for the bar.
bullPinBar(_maxBodyPercent, _minWickPercent)
Determines if the bar is a bull pin bar.
Parameters:
_maxBodyPercent (simple float) : (float) The maximum body percentage.
_minWickPercent (simple float) : (float) The minimum wick percentage.
Returns: (bool) True if the bar is a bull pin bar, otherwise false.
bearPinBar(_maxBodyPercent, _minWickPercent)
Determines if the bar is a bear pin bar.
Parameters:
_maxBodyPercent (simple float) : (float) The maximum body percentage.
_minWickPercent (simple float) : (float) The minimum wick percentage.
Returns: (bool) True if the bar is a bear pin bar, otherwise false.
dojiBar(_maxBodyPercent)
Determines if the bar is a doji.
Parameters:
_maxBodyPercent (simple float) : (float) The maximum body percentage.
Returns: (bool) True if the bar is a doji, otherwise false.
spinningTopBar(_minWicksPercent, _emaLength)
Determines if the bar is a spinning top.
Parameters:
_minWicksPercent (simple float) : (float) The minimum wicks percentage.
_emaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if the bar is a spinning top, otherwise false.
highWaveBar(_minBodyPercent, _minWickPercent, _bars)
Determines if the bar is a high wave bar.
Parameters:
_minBodyPercent (simple float) : (float) The minimum body percentage.
_minWickPercent (simple float) : (float) The minimum wick percentage.
_bars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if the bar is a high wave bar, otherwise false.
consolidationBar(_data, _spread, _bars)
Determines if the bars are in consolidation.
Parameters:
_data (map) : (map) The data map with spread levels.
_spread (simple float) : (float) The spread percentage for comparison.
_bars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if the bars are in consolidation, otherwise false.
S_DownThrust(_data, _bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of strength (DownThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of strength (DownThrust), otherwise false.
S_SellingClimax(_data, _rejectionWick)
Determines if there is a sign of strength (Selling Climax).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if there is a sign of strength (Selling Climax), otherwise false.
S_NoEffortBearishResult()
Determines if there is a sign of strength (No Effort Bearish Result).
Returns: (bool) True if there is a sign of strength (No Effort Bearish Result), otherwise false.
S_BearishEffortNoResult()
Determines if there is a sign of strength (Bearish Effort No Result).
Returns: (bool) True if there is a sign of strength (Bearish Effort No Result), otherwise false.
S_InverseDownThrust(_data, _bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of strength (Inverse DownThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of strength (Inverse DownThrust), otherwise false.
S_FailedSellingClimax()
Determines if there is a sign of strength (Failed Selling Climax).
Returns: (bool) True if there is a sign of strength (Failed Selling Climax), otherwise false.
S_BullOutsideReversal(_data)
Determines if there is a sign of strength (Bull Outside Reversal).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of strength (Bull Outside Reversal), otherwise false.
S_EndOfFallingMarket(_data)
Determines if there is a sign of strength (End of Falling Market).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of strength (End of Falling Market), otherwise false.
S_PseudoDownThrust(_bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of strength (Pseudo DownThrust).
Parameters:
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of strength (Pseudo DownThrust), otherwise false.
S_NoSupply(_bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of strength (No Supply).
Parameters:
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of strength (No Supply), otherwise false.
W_UpThrust(_data, _bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of weakness (UpThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of weakness (UpThrust), otherwise false.
W_BuyingClimax(_data, _rejectionWick)
Determines if there is a sign of weakness (Buying Climax).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if there is a sign of weakness (Buying Climax), otherwise false.
W_NoEffortBullishResult()
Determines if there is a sign of weakness (No Effort Bullish Result).
Returns: (bool) True if there is a sign of weakness (No Effort Bullish Result), otherwise false.
W_BullishEffortNoResult()
Determines if there is a sign of weakness (Bullish Effort No Result).
Returns: (bool) True if there is a sign of weakness (Bullish Effort No Result), otherwise false.
W_InverseUpThrust(_data, _bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of weakness (Inverse UpThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of weakness (Inverse UpThrust), otherwise false.
W_FailedBuyingClimax()
Determines if there is a sign of weakness (Failed Buying Climax).
Returns: (bool) True if there is a sign of weakness (Failed Buying Climax), otherwise false.
W_BearOutsideReversal(_data)
Determines if there is a sign of weakness (Bear Outside Reversal).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of weakness (Bear Outside Reversal), otherwise false.
W_EndOfRisingMarket(_data)
Determines if there is a sign of weakness (End of Rising Market).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of weakness (End of Rising Market), otherwise false.
W_PseudoUpThrust(_bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of weakness (Pseudo UpThrust).
Parameters:
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of weakness (Pseudo UpThrust), otherwise false.
W_NoDemand(_bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of weakness (No Demand).
Parameters:
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of weakness (No Demand), otherwise false.
N_QuietDoji(_dojiBarMaxBody)
Determines if there is a neutral signal (Quiet Doji).
Parameters:
_dojiBarMaxBody (simple float) : (float) The maximum body percentage for doji bar.
Returns: (bool) True if there is a neutral signal (Quiet Doji), otherwise false.
N_BalancedDoji(_data, _dojiBarMaxBody)
Determines if there is a neutral signal (Balanced Doji).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_dojiBarMaxBody (simple float) : (float) The maximum body percentage for doji bar.
Returns: (bool) True if there is a neutral signal (Balanced Doji), otherwise false.
N_StrongDoji(_dojiBarMaxBody)
Determines if there is a neutral signal (Strong Doji).
Parameters:
_dojiBarMaxBody (simple float) : (float) The maximum body percentage for doji bar.
Returns: (bool) True if there is a neutral signal (Strong Doji), otherwise false.
N_QuietSpinningTop(_spinningTopBarMinWicks, _spinningTopBarEmaLength)
Determines if there is a neutral signal (Quiet Spinning Top).
Parameters:
_spinningTopBarMinWicks (simple float) : (float) The minimum wicks percentage for spinning top bar.
_spinningTopBarEmaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if there is a neutral signal (Quiet Spinning Top), otherwise false.
N_BalancedSpinningTop(_data, _spinningTopBarMinWicks, _spinningTopBarEmaLength)
Determines if there is a neutral signal (Balanced Spinning Top).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_spinningTopBarMinWicks (simple float) : (float) The minimum wicks percentage for spinning top bar.
_spinningTopBarEmaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if there is a neutral signal (Balanced Spinning Top), otherwise false.
N_StrongSpinningTop(_spinningTopBarMinWicks, _spinningTopBarEmaLength)
Determines if there is a neutral signal (Strong Spinning Top).
Parameters:
_spinningTopBarMinWicks (simple float) : (float) The minimum wicks percentage for spinning top bar.
_spinningTopBarEmaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if there is a neutral signal (Strong Spinning Top), otherwise false.
N_QuietHighWave(_highWaveBarMinBody, _highWaveBarMinWick, _highWaveBarBars)
Determines if there is a neutral signal (Quiet High Wave).
Parameters:
_highWaveBarMinBody (simple float) : (float) The minimum body percentage for high wave bar.
_highWaveBarMinWick (simple float) : (float) The minimum wick percentage for high wave bar.
_highWaveBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Quiet High Wave), otherwise false.
N_BalancedHighWave(_data, _highWaveBarMinBody, _highWaveBarMinWick, _highWaveBarBars)
Determines if there is a neutral signal (Balanced High Wave).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_highWaveBarMinBody (simple float) : (float) The minimum body percentage for high wave bar.
_highWaveBarMinWick (simple float) : (float) The minimum wick percentage for high wave bar.
_highWaveBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Balanced High Wave), otherwise false.
N_StrongHighWave(_highWaveBarMinBody, _highWaveBarMinWick, _highWaveBarBars)
Determines if there is a neutral signal (Strong High Wave).
Parameters:
_highWaveBarMinBody (simple float) : (float) The minimum body percentage for high wave bar.
_highWaveBarMinWick (simple float) : (float) The minimum wick percentage for high wave bar.
_highWaveBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Strong High Wave), otherwise false.
N_Consolidation(_data, _consolidationBarSpread, _consolidationBarBars)
Determines if there is a neutral signal (Consolidation).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_consolidationBarSpread (simple float) : (float) The spread percentage for consolidation bar.
_consolidationBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Consolidation), otherwise false.
Oscillator Workbench — Chart [LucF]█ OVERVIEW
This indicator uses an on-chart visual framework to help traders with the interpretation of any oscillator's behavior. The advantage of using this tool is that you do not need to know all the ins and outs of a particular oscillator such as RSI, CCI, Stochastic, etc. Your choice of oscillator and settings in this indicator will change its visuals, which allows you to evaluate different configurations in the context of how the workbench models oscillator behavior. My hope is that by using the workbench, you may come up with an oscillator selection and settings that produce visual cues you find useful in your trading.
The workbench works on any symbol and timeframe. It uses the same presentation engine as my Delta Volume Channels indicator; those already familiar with it will feel right at home here.
█ CONCEPTS
Oscillators
An oscillator is any signal that moves up and down a centerline. The centerline value is often zero or 50. Because the range of oscillator values is different than that of the symbol prices we look at on our charts, it is usually impossible to display an oscillator on the chart, so we typically put oscillators in a separate pane where they live in their own space. Each oscillator has its own profile and properties that dictate its behavior and interpretation. Oscillators can be bounded , meaning their values oscillate between fixed values such as 0 to 100 or +1 to -1, or unbounded when their maximum and minimum values are undefined.
Oscillator weight
How do you display an oscillator's value on a chart showing prices when both values are not on the same scale? The method I use here converts the oscillator's value into a percentage that is used to weigh a reference line. The weight of the oscillator is calculated by maintaining its highest and lowest value above and below its centerline since the beginning of the chart's history. The oscillator's relative position in either of those spaces is then converted to a percentage, yielding a positive or negative value depending on whether the oscillator is above or below its centerline. This method works equally well with bounded and unbounded oscillators.
Oscillator Channel
The oscillator channel is the space between two moving averages: the reference line and a weighted version of that line. The reference line is a moving average of a type, source and length which you select. The weighted line uses the same settings, but it averages the oscillator-weighted price source.
The weight applied to the source of the reference line can also include the relative size of the bar's volume in relation to previous bars. The effect of this is that the oscillator's weight on bars with higher total volume will carry greater weight than those with lesser volume.
The oscillator channel can be in one of four states, each having its corresponding color:
• Bull (teal): The weighted line is above the reference line.
• Strong bull (lime): The bull condition is fulfilled and the bar's close is above the reference line and both the reference and the weighted lines are rising.
• Bear (maroon): The weighted line is below the reference line.
• Strong bear (pink): The bear condition is fulfilled and the bar's close is below the reference line and both the reference and the weighted lines are falling.
Divergences
In the context of this indicator, a divergence is any bar where the slope of the reference line does not match that of the weighted line. No directional bias is assigned to divergences when they occur. You can also choose to define divergences as differences in polarity between the oscillator's slope and the polarity of close-to-close values. This indicator's divergences are designed to identify transition levels. They have no polarity; their bullish/bearish bias is determined by the behavior of price relative to the divergence channel after the divergence channel is built.
Divergence Channel
The divergence channel is the space between two levels (by default, the bar's low and high ) saved when divergences occur. When price has breached a channel and a new divergence occurs, a new channel is created. Until that new channel is breached, bars where additional divergences occur will expand the channel's levels if the bar's price points are outside the channel.
Price breaches of the divergence channel will change its state. Divergence channels can be in one of five different states:
• Bull (teal): Price has breached the channel to the upside.
• Strong bull (lime): The bull condition is fulfilled and the oscillator channel is in the strong bull state.
• Bear (maroon): Price has breached the channel to the downside.
• Strong bear (pink): The bear condition is fulfilled and the oscillator channel is in the strong bear state.
• Neutral (gray): The channel has not been breached.
█ HOW TO USE THE INDICATOR
Load the indicator on an active chart (see here if you don't know how).
The default configuration displays:
• The Divergence channel's levels.
• Bar colors using the state of the oscillator channel.
The default settings use:
• RSI as the oscillator, using the close source and a length of 20 bars.
• An Arnaud-Legoux moving average on the close and a length of 20 bars as the reference line.
• The weighted version of the reference line uses only the oscillator's weight, i.e., without the relative volume's weight.
The weighted line is capped to three standard deviations of the reference.
• The divergence channel's levels are determined using the high and low of the bars where divergences occur.
Breaches of the channel require a bar's low to move above the top of the channel, and the bar's high to move below the channel's bottom.
No markers appear on the chart; if you want to create alerts from this script, you will need first to define the conditions that will trigger the markers, then create the alert, which will trigger on those same conditions.
To learn more about how to use this indicator, you must understand the concepts it uses and the information it displays, which requires reading this description. There are no videos to explain it.
█ FEATURES
The script's inputs are divided in five sections: "Oscillator", "Oscillator channel", "Divergence channel", "Bar Coloring" and "Marker/Alert Conditions".
Oscillator
This is where you configure the oscillator you want to study. Thirty oscillators are available to choose from, but you can also use an oscillator from another indicator that is on your chart, if you want. When you select an external indicator's plot as the oscillator, you must also specify the value of its centerline.
Oscillator Channel
Here, you control the visibility and colors of the reference line, its weighted version, and the oscillator channel between them.
You also specify what type of moving average you want to use as a reference line, its source and its length. This acts as the oscillator channel's baseline. The weighted line is also a moving average of the same type and length as the reference line, except that it will be calculated from the weighted version of the source used in the reference line. By default, the weighted line is capped to three standard deviations of the reference line. You can change that value, and also elect to cap using a multiple of ATR instead. The cap provides a mechanism to control how far the weighted line swings from the reference line. This section is also where you can enable the relative volume component of the weight.
Divergence Channel
This is where you control the appearance of the divergence channel and the key price values used in determining the channel's levels and breaching conditions. These choices have an impact on the behavior of the channel. More generous level prices like the default low and high selection will produce more conservative channels, as will the default choice for breach prices.
In this section, you can also enable a mode where an attempt is made to estimate the channel's bias before price breaches the channel. When it is enabled, successive increases/decreases of the channel's top and bottom levels are counted as new divergences occur. When one count is greater than the other, a bull/bear bias is inferred from it. You can also change the detection mode of divergences, and choose to display a mark above or below bars where divergences occur.
Bar Coloring
You specify here:
• The method used to color chart bars, if you choose to do so.
• If you want to hollow out the bodies of bars where volume has not increased since the last bar.
Marker/Alert Conditions
Here, you specify the conditions that will trigger up or down markers. The trigger conditions can include a combination of state transitions of the oscillator and the divergence channels. The triggering conditions can be filtered using a variety of conditions.
Configuring the marker conditions is necessary before creating an alert from this script, as the alert will use the marker conditions to trigger.
Realtime values will repaint, as is usually the case with oscillators, but markers only appear on bar closes, so they will not repaint. Keep in mind, when looking at markers on historical bars, that they are positioned on the bar when it closes — NOT when it opens.
Raw values
The raw values calculated by this script can be inspected using the Data Window, including the oscillator's value and the weights.
█ INTERPRETATION
Except when mentioned otherwise, this section's charts use the indicator's default settings, with different visual components turned on or off.
The aim of the oscillator channel is to provide a visual representation of an oscillator's general behavior. The simplest characteristic of the channel is its bull/bear state, determined by whether the weighted line is above or below the reference line. One can then distinguish between its bull and strong bull states, as transitions from strong bull to bull states will generally happen when trends are losing steam. While one should not infer a reversal from such transitions, they can be a good place to tighten stops. Only time will tell if a reversal will occur. One or more divergences will often occur before reversals. This shows the oscillator channel, with the reference line and the thicker, weighted line:
The nature of the divergence channel 's design makes it particularly adept at identifying consolidation areas if its settings are kept on the conservative side. The divergence channel will also reveal transition areas. A gray divergence channel should usually be considered a no-trade zone. More adventurous traders can use the oscillator channel to orient their trade entries if they accept the risk of trading in a neutral divergence channel, which by definition will not have been breached by price. This show only the divergence channels:
This chart shows divergence channels and their levels, and colors bars on divergences and on the state of the oscillator channel, which is not visible on the chart:
If your charts are already busy with other stuff you want to hold on to, you could consider using only the chart bar coloring component of this indicator. Here we only color bars using the combined state of the oscillator and divergence channel, and we do not color the bodies of bars where volume has not increased. Note that my chart's settings do not color the candle bodies:
At its simplest, one way to use this indicator would be to look for overlaps of the strong bull/bear colors in both the oscillator channel and a divergence channel, as these identify points where price is breaching the divergence channel when the oscillator's state is consistent with the direction of the breach.
Tip
One way to use the Workbench is to combine it with my Delta Volume Channels indicator. If both indicators use the same MA as a reference line, you can display its delta volume channel instead of the oscillator channel.
This chart shows such a setup. The Workbench displays its divergence levels, the weighted reference line using the default RSI oscillator, and colors bars on divergences. The DV Channels indicator only displays its delta volume channel, which uses the same MA as the workbench for its baseline. This way you can ascertain the volume delta situation in contrast with the visuals of the Workbench:
█ LIMITATIONS
• For some of the oscillators, assumptions are made concerning their different parameters when they are more complex than just a source and length.
See the `oscCalc()` function in this indicator's code for all the details, and ask me in a comment if you can't find the information you need.
• When an oscillator using volume is selected and no volume information is available for the chart's symbol, an error will occur.
• The method I use to convert an oscillator's value into a percentage is fragile in the early history of datasets
because of the nascent expression of the oscillator's range during those early bars.
█ NOTES
Working with this workbench
This indicator is called a workbench for a reason; it is designed for traders interested in exploring its behavior with different oscillators and settings, in the hope they can come up with a setup that suits their trading methodology. I cannot tell you which setup is the best because its setup should be compatible with your trading methodology, which may require faster or slower transitions, thus different configurations of the settings affecting the calculations of the divergence channels.
For Pine Script™ Coders
• This script uses the new overload of the fill() function which now makes it possible to do vertical gradients in Pine. I use it for both channels displayed by this script.
• I use the new arguments for plot() 's `display` parameter to control where the script plots some of its values,
namely those I only want to appear in the script's status line and in the Data Window.
• I used my ta library for some of the oscillator calculations and helper functions.
• I also used TradingView's ta library for other oscillator calculations.
• I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual.
CVD - Cumulative Volume Delta Candles█ OVERVIEW
This indicator displays cumulative volume delta in candle form. It uses intrabar information to obtain more precise volume delta information than methods using only the chart's timeframe.
█ CONCEPTS
Bar polarity
By bar polarity , we mean the direction of a bar, which is determined by looking at the bar's close vs its open .
Intrabars
Intrabars are chart bars at a lower timeframe than the chart's. Each 1H chart bar of a 24x7 market will, for example, usually contain 60 bars at the lower timeframe of 1min, provided there was market activity during each minute of the hour. Mining information from intrabars can be useful in that it offers traders visibility on the activity inside a chart bar.
Lower timeframes (LTFs)
A lower timeframe is a timeframe that is smaller than the chart's timeframe. This script uses a LTF to access intrabars. The lower the LTF, the more intrabars are analyzed, but the less chart bars can display CVD information because there is a limit to the total number of intrabars that can be analyzed.
Volume delta
The volume delta concept divides a bar's volume in "up" and "down" volumes. The delta is calculated by subtracting down volume from up volume. Many calculation techniques exist to isolate up and down volume within a bar. The simplest techniques use the polarity of interbar price changes to assign their volume to up or down slots, e.g., On Balance Volume or the Klinger Oscillator . Others such as Chaikin Money Flow use assumptions based on a bar's OHLC values. The most precise calculation method uses tick data and assigns the volume of each tick to the up or down slot depending on whether the transaction occurs at the bid or ask price. While this technique is ideal, it requires huge amounts of data on historical bars, which usually limits the historical depth of charts and the number of symbols for which tick data is available.
This indicator uses intrabar analysis to achieve a compromise between the simplest and most precise methods of calculating volume delta. In the context where historical tick data is not yet available on TradingView, intrabar analysis is the most precise technique to calculate volume delta on historical bars on our charts. Our Volume Profile indicators use it. Other volume delta indicators in our Community Scripts such as the Realtime 5D Profile use realtime chart updates to achieve more precise volume delta calculations, but that method cannot be used on historical bars, so those indicators only work in real time.
This is the logic we use to assign intrabar volume to up or down slots:
• If the intrabar's open and close values are different, their relative position is used.
• If the intrabar's open and close values are the same, the difference between the intrabar's close and the previous intrabar's close is used.
• As a last resort, when there is no movement during an intrabar and it closes at the same price as the previous intrabar, the last known polarity is used.
Once all intrabars making up a chart bar have been analyzed and the up or down property of each intrabar's volume determined, the up volumes are added and the down volumes subtracted. The resulting value is volume delta for that chart bar.
█ FEATURES
CVD Candles
Cumulative Volume Delta Candles present volume delta information as it evolves during a period of time.
This is how each candle's levels are calculated:
• open : Each candle's' open level is the cumulative volume delta for the current period at the start of the bar.
This value becomes zero on the first candle following a CVD reset.
The candles after the first one always open where the previous candle closed.
The candle's high, low and close levels are then calculated by adding or subtracting a volume value to the open.
• high : The highest volume delta value found in intrabars. If it is not higher than the volume delta for the bar, then that candle will have no upper wick.
• low : The lowest volume delta value found in intrabars. If it is not lower than the volume delta for the bar, then that candle will have no lower wick.
• close : The aggregated volume delta for all intrabars. If volume delta is positive for the chart bar, then the candle's close will be higher than its open, and vice versa.
The candles are plotted in one of two configurable colors, depending on the polarity of volume delta for the bar.
CVD resets
The "cumulative" part of the indicator's name stems from the fact that calculations accumulate during a period of time. This allows you to analyze the progression of volume delta across manageable chunks, which is often more useful than looking at volume delta cumulated from the beginning of a chart's history.
You can configure the reset period using the "CVD Resets" input, which offers the following selections:
• None : Calculations do not reset.
• On a fixed higher timeframe : Calculations reset on the higher timeframe you select in the "Fixed higher timeframe" field.
• At a fixed time that you specify.
• At the beginning of the regular session .
• On a stepped higher timeframe : Calculations reset on a higher timeframe automatically stepped using the chart's timeframe and following these rules:
Chart TF HTF
< 1min 1H
< 3H 1D
<= 12H 1W
< 1W 1M
>= 1W 1Y
The indicator's background shows where resets occur.
Intrabar precision
The precision of calculations increases with the number of intrabars analyzed for each chart bar. It is controlled through the script's "Intrabar precision" input, which offers the following selections:
• Least precise, covering many chart bars
• Less precise, covering some chart bars
• More precise, covering less chart bars
• Most precise, 1min intrabars
As there is a limit to the number of intrabars that can be analyzed by a script, a tradeoff occurs between the number of intrabars analyzed per chart bar and the chart bars for which calculations are possible.
Total volume candles
You can choose to display candles showing the total intrabar volume for the chart bar. This provides you with more context to evaluate a bar's volume delta by showing it relative to the sum of intrabar volume. Note that because of the reasons explained in the "NOTES" section further down, the total volume is the sum of all intrabar volume rather than the volume of the bar at the chart's timeframe.
Total volume candles can be configured with their own up and down colors. You can also control the opacity of their bodies to make them more or less prominent. This publication's chart shows the indicator with total volume candles. They are turned off by default, so you will need to choose to display them in the script's inputs for them to plot.
Divergences
Divergences occur when the polarity of volume delta does not match that of the chart bar. You can identify divergences by coloring the CVD candles differently for them, or by coloring the indicator's background.
Information box
An information box in the lower-left corner of the indicator displays the HTF used for resets, the LTF used for intrabars, and the average quantity of intrabars per chart bar. You can hide the box using the script's inputs.
█ INTERPRETATION
The first thing to look at when analyzing CVD candles is the side of the zero line they are on, as this tells you if CVD is generally bullish or bearish. Next, one should consider the relative position of successive candles, just as you would with a price chart. Are successive candles trending up, down, or stagnating? Keep in mind that whatever trend you identify must be considered in the context of where it appears with regards to the zero line; an uptrend in a negative CVD (below the zero line) may not be as powerful as one taking place in positive CVD values, but it may also predate a movement into positive CVD territory. The same goes with stagnation; a trader in a long position will find stagnation in positive CVD territory less worrisome than stagnation under the zero line.
After consideration of the bigger picture, one can drill down into the details. Exactly what you are looking for in markets will, of course, depend on your trading methodology, but you may find it useful to:
• Evaluate volume delta for the bar in relation to price movement for that bar.
• Evaluate the proportion that volume delta represents of total volume.
• Notice divergences and if the chart's candle shape confirms a hesitation point, as a Doji would.
• Evaluate if the progress of CVD candles correlates with that of chart bars.
• Analyze the wicks. As with price candles, long wicks tend to indicate weakness.
Always keep in mind that unless you have chosen not to reset it, your CVD resets for each period, whether it is fixed or automatically stepped. Consequently, any trend from the preceding period must re-establish itself in the next.
█ NOTES
Know your volume
Traders using volume information should understand the volume data they are using: where it originates and what transactions it includes, as this can vary with instruments, sectors, exchanges, timeframes, and between historical and realtime bars. The information used to build a chart's bars and display volume comes from data providers (exchanges, brokers, etc.) who often maintain distinct feeds for intraday and end-of-day (EOD) timeframes. How volume data is assembled for the two feeds depends on how instruments are traded in that sector and/or the volume reporting policy for each feed. Instruments from crypto and forex markets, for example, will often display similar volume on both feeds. Stocks will often display variations because block trades or other types of trades may not be included in their intraday volume data. Futures will also typically display variations.
Note that as intraday vs EOD variations exist for historical bars on some instruments, differences may also exist between the realtime feeds used on intraday vs 1D or greater timeframes for those same assets. Realtime reporting rules will often be different from historical feed reporting rules, so variations between realtime feeds will often be different from the variations between historical feeds for the same instrument. The Volume X-ray indicator can help you analyze differences between intraday and EOD volumes for the instruments you trade.
If every unit of volume is both bought by a buyer and sold by a seller, how can volume delta make sense?
Traders who do not understand the mechanics of matching engines (the exchange software that matches orders from buyers and sellers) sometimes argue that the concept of volume delta is flawed, as every unit of volume is both bought and sold. While they are rigorously correct in stating that every unit of volume is both bought and sold, they overlook the fact that information can be mined by analyzing variations in the price of successive ticks, or in our case, intrabars.
Our calculations model the situation where, in fully automated order handling, market orders are generally matched to limit orders sitting in the order book. Buy market orders are matched to quotes at the ask level and sell market orders are matched to quotes at the bid level. As explained earlier, we use the same logic when comparing intrabar prices. While using intrabar analysis does not produce results as precise as when individual transactions — or ticks — are analyzed, results are much more precise than those of methods using only chart prices.
Not only does the concept underlying volume delta make sense, it provides a window on an oft-overlooked variable which, with price and time, is the only basic information representing market activity. Furthermore, because the calculation of volume delta also uses price and time variations, one could conceivably surmise that it can provide a more complete model than ones using price and time only. Whether or not volume delta can be useful in your trading practice, as usual, is for you to decide, as each trader's methodology is different.
For Pine Script™ coders
As our latest Polarity Divergences publication, this script uses the recently released request.security_lower_tf() Pine Script™ function discussed in this blog post . It works differently from the usual request.security() in that it can only be used at LTFs, and it returns an array containing one value per intrabar. This makes it much easier for programmers to access intrabar information.
Look first. Then leap.
LeoLibraryLibrary "LeoLibrary"
A collection of custom tools & utility functions commonly used with my scripts
getDecimals() Calculates how many decimals are on the quote price of the current market
Returns: The current decimal places on the market quote price
truncate(float, float) Truncates (cuts) excess decimal places
Parameters:
float : _number The number to truncate
float : _decimalPlaces (default=2) The number of decimal places to truncate to
Returns: The given _number truncated to the given _decimalPlaces
toWhole(float) Converts pips into whole numbers
Parameters:
float : _number The pip number to convert into a whole number
Returns: The converted number
toPips(float) Converts whole numbers back into pips
Parameters:
float : _number The whole number to convert into pips
Returns: The converted number
av_getPositionSize(float, float, float, float) Calculates OANDA forex position size for AutoView based on the given parameters
Parameters:
float : _balance The account balance to use
float : _risk The risk percentage amount (as a whole number - eg. 1 = 1% risk)
float : _stopPoints The stop loss distance in POINTS (not pips)
float : _conversionRate The conversion rate of our account balance currency
Returns: The calculated position size (in units - only compatible with OANDA)
getMA(int, string) Gets a Moving Average based on type
Parameters:
int : _length The MA period
string : _maType The type of MA
Returns: A moving average with the given parameters
getEAP(float) Performs EAP stop loss size calculation (eg. ATR >= 20.0 and ATR < 30, returns 20)
Parameters:
float : _atr The given ATR to base the EAP SL calculation on
Returns: The EAP SL converted ATR size
barsAboveMA(int, float) Counts how many candles are above the MA
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to check
Returns: The bar count of how many recent bars are above the MA
barsBelowMA(int, float) Counts how many candles are below the MA
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to reference
Returns: The bar count of how many recent bars are below the EMA
barsCrossedMA(int, float) Counts how many times the EMA was crossed recently
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to reference
Returns: The bar count of how many times price recently crossed the EMA
getPullbackBarCount(int, int) Counts how many green & red bars have printed recently (ie. pullback count)
Parameters:
int : _lookback The lookback period to look back over
int : _direction The color of the bar to count (1 = Green, -1 = Red)
Returns: The bar count of how many candles have retraced over the given lookback & direction
getBodySize() Gets the current candle's body size (in POINTS, divide by 10 to get pips)
Returns: The current candle's body size in POINTS
getTopWickSize() Gets the current candle's top wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's top wick size in POINTS
getBottomWickSize() Gets the current candle's bottom wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's bottom wick size in POINTS
getBodyPercent() Gets the current candle's body size as a percentage of its entire size including its wicks
Returns: The current candle's body size percentage
isHammer(float, bool) Checks if the current bar is a hammer candle based on the given parameters
Parameters:
float : _fib (default=0.382) The fib to base candle body on
bool : _colorMatch (default=false) Does the candle need to be green? (true/false)
Returns: A boolean - true if the current bar matches the requirements of a hammer candle
isStar(float, bool) Checks if the current bar is a shooting star candle based on the given parameters
Parameters:
float : _fib (default=0.382) The fib to base candle body on
bool : _colorMatch (default=false) Does the candle need to be red? (true/false)
Returns: A boolean - true if the current bar matches the requirements of a shooting star candle
isDoji(float, bool) Checks if the current bar is a doji candle based on the given parameters
Parameters:
float : _wickSize (default=2) The maximum top wick size compared to the bottom (and vice versa)
bool : _bodySize (default=0.05) The maximum body size as a percentage compared to the entire candle size
Returns: A boolean - true if the current bar matches the requirements of a doji candle
isBullishEC(float, float, bool) Checks if the current bar is a bullish engulfing candle
Parameters:
float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)
float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage
bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?
Returns: A boolean - true if the current bar matches the requirements of a bullish engulfing candle
isBearishEC(float, float, bool) Checks if the current bar is a bearish engulfing candle
Parameters:
float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)
float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage
bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?
Returns: A boolean - true if the current bar matches the requirements of a bearish engulfing candle
timeFilter(string, bool) Determines if the current price bar falls inside the specified session
Parameters:
string : _sess The session to check
bool : _useFilter (default=false) Whether or not to actually use this filter
Returns: A boolean - true if the current bar falls within the given time session
dateFilter(int, int) Determines if this bar's time falls within date filter range
Parameters:
int : _startTime The UNIX date timestamp to begin searching from
int : _endTime the UNIX date timestamp to stop searching from
Returns: A boolean - true if the current bar falls within the given dates
dayFilter(bool, bool, bool, bool, bool, bool, bool) Checks if the current bar's day is in the list of given days to analyze
Parameters:
bool : _monday Should the script analyze this day? (true/false)
bool : _tuesday Should the script analyze this day? (true/false)
bool : _wednesday Should the script analyze this day? (true/false)
bool : _thursday Should the script analyze this day? (true/false)
bool : _friday Should the script analyze this day? (true/false)
bool : _saturday Should the script analyze this day? (true/false)
bool : _sunday Should the script analyze this day? (true/false)
Returns: A boolean - true if the current bar's day is one of the given days
atrFilter(float, float) Checks the current bar's size against the given ATR and max size
Parameters:
float : _atr (default=ATR 14 period) The given ATR to check
float : _maxSize The maximum ATR multiplier of the current candle
Returns: A boolean - true if the current bar's size is less than or equal to _atr x _maxSize
fillCell(table, int, int, string, string, color, color) This updates the given table's cell with the given values
Parameters:
table : _table The table ID to update
int : _column The column to update
int : _row The row to update
string : _title The title of this cell
string : _value The value of this cell
color : _bgcolor The background color of this cell
color : _txtcolor The text color of this cell
Returns: A boolean - true if the current bar falls within the given dates
ZenLibraryLibrary "ZenLibrary"
A collection of custom tools & utility functions commonly used with my scripts.
getDecimals() Calculates how many decimals are on the quote price of the current market
Returns: The current decimal places on the market quote price
truncate(float, float) Truncates (cuts) excess decimal places
Parameters:
float : _number The number to truncate
float : _decimalPlaces (default=2) The number of decimal places to truncate to
Returns: The given _number truncated to the given _decimalPlaces
toWhole(float) Converts pips into whole numbers
Parameters:
float : _number The pip number to convert into a whole number
Returns: The converted number
toPips(float) Converts whole numbers back into pips
Parameters:
float : _number The whole number to convert into pips
Returns: The converted number
av_getPositionSize(float, float, float, float) Calculates OANDA forex position size for AutoView based on the given parameters
Parameters:
float : _balance The account balance to use
float : _risk The risk percentage amount (as a whole number - eg. 1 = 1% risk)
float : _stopPoints The stop loss distance in POINTS (not pips)
float : _conversionRate The conversion rate of our account balance currency
Returns: The calculated position size (in units - only compatible with OANDA)
getMA(int, string) Gets a Moving Average based on type
Parameters:
int : _length The MA period
string : _maType The type of MA
Returns: A moving average with the given parameters
getEAP(float) Performs EAP stop loss size calculation (eg. ATR >= 20.0 and ATR < 30, returns 20)
Parameters:
float : _atr The given ATR to base the EAP SL calculation on
Returns: The EAP SL converted ATR size
barsAboveMA(int, float) Counts how many candles are above the MA
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to check
Returns: The bar count of how many recent bars are above the MA
barsBelowMA(int, float) Counts how many candles are below the MA
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to reference
Returns: The bar count of how many recent bars are below the EMA
barsCrossedMA(int, float) Counts how many times the EMA was crossed recently
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to reference
Returns: The bar count of how many times price recently crossed the EMA
getPullbackBarCount(int, int) Counts how many green & red bars have printed recently (ie. pullback count)
Parameters:
int : _lookback The lookback period to look back over
int : _direction The color of the bar to count (1 = Green, -1 = Red)
Returns: The bar count of how many candles have retraced over the given lookback & direction
getBodySize() Gets the current candle's body size (in POINTS, divide by 10 to get pips)
Returns: The current candle's body size in POINTS
getTopWickSize() Gets the current candle's top wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's top wick size in POINTS
getBottomWickSize() Gets the current candle's bottom wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's bottom wick size in POINTS
getBodyPercent() Gets the current candle's body size as a percentage of its entire size including its wicks
Returns: The current candle's body size percentage
isHammer(float, bool) Checks if the current bar is a hammer candle based on the given parameters
Parameters:
float : _fib (default=0.382) The fib to base candle body on
bool : _colorMatch (default=false) Does the candle need to be green? (true/false)
Returns: A boolean - true if the current bar matches the requirements of a hammer candle
isStar(float, bool) Checks if the current bar is a shooting star candle based on the given parameters
Parameters:
float : _fib (default=0.382) The fib to base candle body on
bool : _colorMatch (default=false) Does the candle need to be red? (true/false)
Returns: A boolean - true if the current bar matches the requirements of a shooting star candle
isDoji(float, bool) Checks if the current bar is a doji candle based on the given parameters
Parameters:
float : _wickSize (default=2) The maximum top wick size compared to the bottom (and vice versa)
bool : _bodySize (default=0.05) The maximum body size as a percentage compared to the entire candle size
Returns: A boolean - true if the current bar matches the requirements of a doji candle
isBullishEC(float, float, bool) Checks if the current bar is a bullish engulfing candle
Parameters:
float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)
float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage
bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?
Returns: A boolean - true if the current bar matches the requirements of a bullish engulfing candle
isBearishEC(float, float, bool) Checks if the current bar is a bearish engulfing candle
Parameters:
float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)
float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage
bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?
Returns: A boolean - true if the current bar matches the requirements of a bearish engulfing candle
timeFilter(string, bool) Determines if the current price bar falls inside the specified session
Parameters:
string : _sess The session to check
bool : _useFilter (default=false) Whether or not to actually use this filter
Returns: A boolean - true if the current bar falls within the given time session
dateFilter(int, int) Determines if this bar's time falls within date filter range
Parameters:
int : _startTime The UNIX date timestamp to begin searching from
int : _endTime the UNIX date timestamp to stop searching from
Returns: A boolean - true if the current bar falls within the given dates
dayFilter(bool, bool, bool, bool, bool, bool, bool) Checks if the current bar's day is in the list of given days to analyze
Parameters:
bool : _monday Should the script analyze this day? (true/false)
bool : _tuesday Should the script analyze this day? (true/false)
bool : _wednesday Should the script analyze this day? (true/false)
bool : _thursday Should the script analyze this day? (true/false)
bool : _friday Should the script analyze this day? (true/false)
bool : _saturday Should the script analyze this day? (true/false)
bool : _sunday Should the script analyze this day? (true/false)
Returns: A boolean - true if the current bar's day is one of the given days
atrFilter(float, float) Checks the current bar's size against the given ATR and max size
Parameters:
float : _atr (default=ATR 14 period) The given ATR to check
float : _maxSize The maximum ATR multiplier of the current candle
Returns: A boolean - true if the current bar's size is less than or equal to _atr x _maxSize
fillCell(table, int, int, string, string, color, color) This updates the given table's cell with the given values
Parameters:
table : _table The table ID to update
int : _column The column to update
int : _row The row to update
string : _title The title of this cell
string : _value The value of this cell
color : _bgcolor The background color of this cell
color : _txtcolor The text color of this cell
Returns: A boolean - true if the current bar falls within the given dates
Uptrick: Z-Trend BandsOverview
Uptrick: Z-Trend Bands is a Pine Script overlay crafted to capture high-probability mean-reversion opportunities. It dynamically plots upper and lower statistical bands around an EMA baseline by converting price deviations into z-scores. Once price moves outside these bands and then reenters, the indicator verifies that momentum is genuinely reversing via an EMA-smoothed RSI slope. Signal memory ensures only one entry per momentum swing, and traders receive clear, real-time feedback through customizable bar-coloring modes, a semi-transparent fill highlighting the statistical zone, concise “Up”/“Down” labels, and a live five-metric scoring table.
Introduction
Markets often oscillate between trending and reverting, and simple thresholds or static envelopes frequently misfire when volatility shifts. Standard deviation quantifies how “wide” recent price moves have been, and a z-score transforms each deviation into a measure of how rare it is relative to its own history. By anchoring these bands to an exponential moving average, the script maintains a fluid statistical envelope that adapts instantly to both calm and turbulent regimes. Meanwhile, the Relative Strength Index (RSI) tracks momentum; smoothing RSI with an EMA and observing its slope filters out erratic spikes, ensuring that only genuine momentum flips—upward for longs and downward for shorts—qualify.
Purpose
This indicator is purpose-built for short-term mean-reversion traders operating on lower–timeframe charts. It reveals when price has strayed into the outer 5 percent of its recent range, signaling an increased likelihood of a bounce back toward fair value. Rather than firing on price alone, it demands that momentum follow suit: the smoothed RSI slope must flip in the opposite direction before any trade marker appears. This dual-filter approach dramatically reduces noise-driven, false setups. Traders then see immediate visual confirmation—bar colors that reflect the latest signal and age over time, clear entry labels, and an always-visible table of metric scores—so they can gauge both the validity and freshness of each signal at a glance.
Originality and Uniqueness
Uptrick: Z-Trend Bands stands apart from typical envelope or oscillator tools in four key ways. First, it employs fully normalized z-score bands, meaning ±2 always captures roughly the top and bottom 5 percent of moves, regardless of volatility regime. Second, it insists on two simultaneous conditions—price reentry into the bands and a confirming RSI slope flip—dramatically reducing whipsaw signals. Third, it uses slope-phase memory to lock out duplicate signals until momentum truly reverses again, enforcing disciplined entries. Finally, it offers four distinct bar-coloring schemes (solid reversal, fading reversal, exceeding bands, and classic heatmap) plus a dynamic scoring table, rather than a single, opaque alert, giving traders deep insight into every layer of analysis.
Why Each Component Was Picked
The EMA baseline was chosen for its blend of responsiveness—weighting recent price heavily—and smoothness, which filters market noise. Z-score deviation bands standardize price extremes relative to their own history, adapting automatically to shifting volatility so that “extreme” always means statistically rare. The RSI, smoothed with an EMA before slope calculation, captures true momentum shifts without the false spikes that raw RSI often produces. Slope-phase memory flags prevent repeated alerts within a single swing, curbing over-trading in choppy conditions. Bar-coloring modes provide flexible visual contexts—whether you prefer to track the latest reversal, see signal age, highlight every breakout, or view a continuous gradient—and the scoring table breaks down all five core checks for complete transparency.
Features
This indicator offers a suite of configurable visual and logical tools designed to make reversal signals both robust and transparent:
Dynamic z-score bands that expand or contract in real time to reflect current volatility regimes, ensuring the outer ±zThreshold levels always represent statistically rare extremes.
A smooth EMA baseline that weights recent price more heavily, serving as a fair-value anchor around which deviations are measured.
EMA-smoothed RSI slope confirmation, which filters out erratic momentum spikes by first smoothing raw RSI and then requiring its bar-to-bar slope to flip before any signal is allowed.
Slope-phase memory logic that locks out duplicate buy or sell markers until the RSI slope crosses back through zero, preventing over-trading during choppy swings.
Four distinct bar-coloring modes—Reversal Solid, Reversal Fade, Exceeding Bands, Classic Heat—plus a “None” option, so traders can choose whether to highlight the latest signal, show signal age, emphasize breakout bars, or view a continuous heat gradient within the bands.
A semi-transparent fill between the EMA and the upper/lower bands that visually frames the statistical zone and makes extremes immediately obvious.
Concise “Up” and “Down” labels that plot exactly when price re-enters a band with confirming momentum, keeping chart clutter to a minimum.
A real-time, five-metric scoring table (z-score, RSI slope, price vs. EMA, trend state, re-entry) that updates every two bars, displaying individual +1/–1/0 scores and an averaged Buy/Sell/Neutral verdict for complete transparency.
Calculations
Compute the fair-value EMA over fairLen bars.
Subtract that EMA from current price each bar to derive the raw deviation.
Over zLen bars, calculate the rolling mean and standard deviation of those deviations.
Convert each deviation into a z-score by subtracting the mean and dividing by the standard deviation.
Plot the upper and lower bands at ±zThreshold × standard deviation around the EMA.
Calculate raw RSI over rsiLen bars, then smooth it with an EMA of length rsiEmaLen.
Derive the RSI slope by taking the difference between the current and previous smoothed RSI.
Detect a potential reentry when price exits one of the bands on the prior bar and re-enters on the current bar.
Require that reentry coincide with an RSI slope flip (positive for a lower-band reentry, negative for an upper-band reentry).
On first valid reentry per momentum swing, fire a buy or sell signal and set a memory flag; reset that flag only when the RSI slope crosses back through zero.
For each bar, assign scores of +1, –1, or 0 for the z-score direction, RSI slope, price vs. EMA, trend-state, and reentry status.
Average those five scores; if the result exceeds +0.1, label “Buy,” if below –0.1, label “Sell,” otherwise “Neutral.”
Update bar colors, the semi-transparent fill, reversal labels, and the scoring table every two bars to reflect the latest calculations.
How It Actually Works
On each new candle, the EMA baseline and band widths update to reflect current volatility. The RSI is smoothed and its slope recalculated. The script then looks back one bar to see if price exited either band and forward to see if it reentered. If that reentry coincides with an appropriate RSI slope flip—and no signal has yet been generated in that swing—a concise label appears. Bar colors refresh according to your selected mode, and the scoring table updates to show which of the five conditions passed or failed, along with the overall verdict. This process repeats seamlessly at each bar, giving traders a continuous feed of disciplined, statistically filtered reversal cues.
Inputs
All parameters are fully user-configurable, allowing you to tailor sensitivity, lookbacks, and visuals to your trading style:
EMA length (fairLen): number of bars for the fair-value EMA; higher values smooth more but lag further behind price.
Z-Score lookback (zLen): window for calculating the mean and standard deviation of price deviations; longer lookbacks reduce noise but respond more slowly to new volatility.
Z-Score threshold (zThreshold): number of standard deviations defining the upper and lower bands; common default is 2.0 for roughly the outer 5 percent of moves.
Source (src): choice of price series (close, hl2, etc.) used for EMA, deviation, and RSI calculations.
RSI length (rsiLen): period for raw RSI calculation; shorter values react faster to momentum changes but can be choppier.
RSI EMA length (rsiEmaLen): period for smoothing raw RSI before taking its slope; higher values filter more noise.
Bar coloring mode (colorMode): select from None, Reversal Solid, Reversal Fade, Exceeding Bands, or Classic Heat to control how bars are shaded in relation to signals and band positions.
Show signals (showSignals): toggle on-chart “Up” and “Down” labels for reversal entries.
Show scoring table (enableTable): toggle the display of the five-metric breakdown table.
Table position (tablePos): choose which corner (Top Left, Top Right, Bottom Left, Bottom Right) hosts the scoring table.
Conclusion
By merging a normalized z-score framework, momentum slope confirmation, disciplined signal memory, flexible visuals, and transparent scoring into one Pine Script overlay, Uptrick: Z-Trend Bands offers a powerful yet intuitive tool for intraday mean-reversion trading. Its adaptability to real-time volatility and multi-layered filter logic deliver clear, high-confidence reversal cues without the clutter or confusion of simpler indicators.
Disclaimer
This indicator is provided solely for educational and informational purposes. It does not constitute financial advice. Trading involves substantial risk and may not be suitable for all investors. Past performance is not indicative of future results. Always conduct your own testing and apply careful risk management before trading live.
Uptrick: Z-Score FlowOverview
Uptrick: Z-Score Flow is a technical indicator that integrates trend-sensitive momentum analysi s with mean-reversion logic derived from Z-Score calculations. Its primary objective is to identify market conditions where price has either stretched too far from its mean (overbought or oversold) or sits at a statistically “normal” range, and then cross-reference this observation with trend direction and RSI-based momentum signals. The result is a more contextual approach to trade entry and exit, emphasizing precision, clarity, and adaptability across varying market regimes.
Introduction
Financial instruments frequently transition between trending modes, where price extends strongly in one direction, and ranging modes, where price oscillates around a central value. A simple statistical measure like Z-Score can highlight price extremes by comparing the current price against its historical mean and standard deviation. However, such extremes alone can be misleading if the broader market structure is trending forcefully. Uptrick: Z-Score Flow aims to solve this gap by combining Z-Score with an exponential moving average (EMA) trend filter and a smoothed RSI momentum check, thus filtering out signals that contradict the prevailing market environment.
Purpose
The purpose of this script is to help traders pinpoint both mean-reversion opportunities and trend-based pullbacks in a way that is statistically grounded yet still mindful of overarching price action. By pairing Z-Score thresholds with supportive conditions, the script reduces the likelihood of acting on random price spikes or dips and instead focuses on movements that are significant within both historical and current contextual frameworks.
Originality and Uniquness
Layered Signal Verification: Signals require the fulfillment of multiple layers (Z-Score extreme, EMA trend bias, and RSI momentum posture) rather than merely breaching a statistical threshold.
RSI Zone Lockout: Once RSI enters an overbought/oversold zone and triggers a signal, the script locks out subsequent signals until RSI recovers above or below those zones, limiting back-to-back triggers.
Controlled Cooldown: A dedicated cooldown mechanic ensures that the script waits a specified number of bars before issuing a new signal in the opposite direction.
Gradient-Based Visualization: Distinct gradient fills between price and the Z-Mean line enhance readability, showing at a glance whether price is trading above or below its statistical average.
Comprehensive Metrics Panel: An optional on-chart table summarizes the Z-Score’s key metrics, streamlining the process of verifying current statistical extremes, mean levels, and momentum directions.
Why these indicators were merged
Z-Score measurements excel at identifying when price deviates from its mean, but they do not intrinsically reveal whether the market’s trajectory supports a reversion or if price might continue along its trend. The EMA, commonly used for spotting trend directions, offers valuable insight into whether price is predominantly ascending or descending. However, relying solely on a trend filter overlooks the intensity of price moves. RSI then adds a dedicated measure of momentum, helping confirm if the market’s energy aligns with a potential reversal (for example, price is statistically low but RSI suggests looming upward momentum). By uniting these three lenses—Z-Score for statistical context, EMA for trend direction, and RSI for momentum force—the script offers a more comprehensive and adaptable system, aiming to avoid false positives caused by focusing on just one aspect of price behavior.
Calculations
The core calculation begins with a simple moving average (SMA) of price over zLen bars, referred to as the basis. Next, the script computes the standard deviation of price over the same window. Dividing the difference between the current price and the basis by this standard deviation produces the Z-Score, indicating how many standard deviations the price is from its mean. A positive Z-Score reveals price is above its average; a negative reading indicates the opposite.
To detect overall market direction, the script calculates an exponential moving average (emaTrend) over emaTrendLen bars. If price is above this EMA, the script deems the market bullish; if below, it’s considered bearish. For momentum confirmation, the script computes a standard RSI over rsiLen bars, then applies a smoothing EMA over rsiEmaLen bars. This smoothed RSI (rsiEma) is monitored for both its absolute level (oversold or overbought) and its slope (the difference between the current and previous value). Finally, slopeIndex determines how many bars back the script compares the basis to check whether the Z-Mean line is generally rising, falling, or flat, which then informs the coloring scheme on the chart.
Calculations and Rational
Simple Moving Average for Baseline: An SMA is used for the core mean because it places equal weight on each bar in the lookback period. This helps maintain a straightforward interpretation of overbought or oversold conditions in the context of a uniform historical average.
Standard Deviation for Volatility: Standard deviation measures the variability of the data around the mean. By dividing price’s difference from the mean by this value, the Z-Score can highlight whether price is unusually stretched given typical volatility.
Exponential Moving Average for Trend: Unlike an SMA, an EMA places more emphasis on recent data, reacting quicker to new price developments. This quicker response helps the script promptly identify trend shifts, which can be crucial for filtering out signals that go against a strong directional move.
RSI for Momentum Confirmation: RSI is an oscillator that gauges price movement strength by comparing average gains to average losses over a set period. By further smoothing this RSI with another EMA, short-lived oscillations become less influential, making signals more robust.
SlopeIndex for Slope-Based Coloring: To clarify whether the market’s central tendency is rising or falling, the script compares the basis now to its level slopeIndex bars ago. A higher current reading indicates an upward slope; a lower reading, a downward slope; and similar readings, a flat slope. This is visually represented on the chart, providing an immediate sense of the directionality.
Inputs
zLen (Z-Score Period)
Specifies how many bars to include for computing the SMA and standard deviation that form the basis of the Z-Score calculation. Larger values produce smoother but slower signals; smaller values catch quick changes but may generate noise.
emaTrendLen (EMA Trend Filter)
Sets the length of the EMA used to detect the market’s primary direction. This is pivotal for distinguishing whether signals should be considered (price aligning with an uptrend or downtrend) or filtered out.
rsiLen (RSI Length)
Defines the window for the initial RSI calculation. This RSI, when combined with the subsequent smoothing EMA, forms the foundation for momentum-based signal confirmations.
rsiEmaLen (EMA of RSI Period)
Applies an exponential moving average over the RSI readings for additional smoothing. This step helps mitigate rapid RSI fluctuations that might otherwise produce whipsaw signals.
zBuyLevel (Z-Score Buy Threshold)
Determines how negative the Z-Score must be for the script to consider a potential oversold signal. If the Z-Score dives below this threshold (and other criteria are met), a buy signal is generated.
zSellLevel (Z-Score Sell Threshold)
Determines how positive the Z-Score must be for a potential overbought signal. If the Z-Score surpasses this threshold (and other checks are satisfied), a sell signal is generated.
cooldownBars (Cooldown (Bars))
Enforces a bar-based delay between opposite signals. Once a buy signal has fired, the script must wait the specified number of bars before registering a new sell signal, and vice versa.
slopeIndex (Slope Sensitivity (Bars))
Specifies how many bars back the script compares the current basis for slope coloration. A bigger slopeIndex highlights larger directional trends, while a smaller number emphasizes shorter-term shifts.
showMeanLine (Show Z-Score Mean Line)
Enables or disables the plotting of the Z-Mean and its slope-based coloring. Traders who prefer minimal chart clutter may turn this off while still retaining signals.
Features
Statistical Core (Z-Score Detection):
This feature computes the Z-Score by taking the difference between the current price and the basis (SMA) and dividing by the standard deviation. In effect, it translates price fluctuations into a standardized measure that reveals how significant a move is relative to the typical variation seen over the lookback. When the Z-Score crosses predefined thresholds (zBuyLevel for oversold and zSellLevel for overbought), it signals that price could be at an extreme.
How It Works: On each bar, the script updates the SMA and standard deviation. The Z-Score is then refreshed accordingly. Traders can interpret particularly large negative or positive Z-Score values as scenarios where price is abnormally low or high.
EMA Trend Filter:
An EMA over emaTrendLen bars is used to classify the market as bullish if the price is above it and bearish if the price is below it. This classification is applied to the Z-Score signals, accepting them only when they align with the broader price direction.
How It Works: If the script detects a Z-Score below zBuyLevel, it further checks if price is actually in a downtrend (below EMA) before issuing a buy signal. This might seem counterintuitive, but a “downtrend” environment plus an oversold reading often signals a potential bounce or a mean-reversion play. Conversely, for sell signals, the script checks if the market is in an uptrend first. If it is, an overbought reading aligns with potential profit-taking.
RSI Momentum Confirmation with Oversold/Overbought Lockout:
RSI is calculated over rsiLen, then smoothed by an EMA over rsiEmaLen. If this smoothed RSI dips below a certain threshold (for example, 30) and then begins to slope upward, the indicator treats it as a potential sign of recovering momentum. Similarly, if RSI climbs above a certain threshold (for instance, 70) and starts to slope downward, that suggests dwindling momentum. Additionally, once RSI is in these zones, the indicator locks out repetitive signals until RSI fully exits and re-enters those extreme territories.
How It Works: Each bar, the script measures whether RSI has dropped below the oversold threshold (like 30) and has a positive slope. If it does, the buy side is considered “unlocked.” For sell signals, RSI must exceed an overbought threshold (70) and slope downward. The combination of threshold and slope helps confirm that a reversal is genuinely in progress instead of issuing signals while momentum remains weak or stuck in extremes.
Cooldown Mechanism:
The script features a custom bar-based cooldown that prevents issuing new signals in the opposite direction immediately after one is triggered. This helps avoid whipsaw situations where the market quickly flips from oversold to overbought or vice versa.
How It Works: When a buy signal fires, the indicator notes the bar index. If the Z-Score and RSI conditions later suggest a sell, the script compares the current bar index to the last buy signal’s bar index. If the difference is within cooldownBars, the signal is disallowed. This ensures a predefined “quiet period” before switching signals.
Slope-Based Coloring (Z-Mean Line and Shadow):
The script compares the current basis value to its value slopeIndex bars ago. A higher reading now indicates a generally upward slope, while a lower reading indicates a downward slope. The script then shades the Z-Mean line in a corresponding bullish or bearish color, or remains neutral if little change is detected.
How It Works: This slope calculation is refreshingly straightforward: basis – basis . If the result is positive, the line is colored bullish; if negative, it is colored bearish; if approximately zero, it remains neutral. This provides a quick visual cue of the medium-term directional bias.
Gradient Overlays:
With gradient fills, the script highlights where price stands in relation to the Z-Mean. When price is above the basis, a purple-shaded region is painted, visually indicating a “bearish zone” for potential overbought conditions. When price is below, a teal-like overlay is used, suggesting a “bullish zone” for potential oversold conditions.
How It Works: Each bar, the script checks if price is above or below the basis. It then applies a fill between close and basis, using distinct colors to show whether the market is trading above or below its mean. This creates an immediate sense of how extended the market might be.
Buy and Sell Labels (with Alerts):
When a legitimate buy or sell condition passes every check (Z-Score threshold, EMA trend alignment, RSI gating, and cooldown clearance), the script plots a corresponding label directly on the chart. It also fires an alert (if alerts are set up), making it convenient for traders who want timely notifications.
How It Works: If rawBuy or rawSell conditions are met (refined by RSI, EMA trend, and cooldown constraints), the script calls the respective plot function to paint an arrow label on the chart. Alerts are triggered simultaneously, carrying easily recognizable messages.
Metrics Table:
The optional on-chart table (activated by showMetrics) presents real-time Z-Score data, including the current Z-Score, its rolling mean, the maximum and minimum Z-Score values observed over the last zLen bars, a percentile position, and a short-term directional note (rising, falling, or flat).
Current – The present Z-Score reading
Mean – Average Z-Score over the zLen period
Min/Max – Lowest and highest Z-Score values within zLen
Position – Where the current Z-Score sits between the min and max (as a percentile)
Trend – Whether the Z-Score is increasing, decreasing, or flat
Conclusion
Uptrick: Z-Score Flow offers a versatile solution for traders who need a statistically informed perspective on price extremes combined with practical checks for overall trend and momentum. By leveraging a well-defined combination of Z-Score, EMA trend classification, RSI-based momentum gating, slope-based visualization, and a cooldown mechanic, the script reduces the occurrence of false or premature signals. Its gradient fills and optional metrics table contribute further clarity, ensuring that users can quickly assess market posture and make more confident trading decisions in real time.
Disclaimer
This script is intended solely for informational and educational purposes. Trading in any financial market comes with substantial risk, and there is no guarantee of success or the avoidance of loss. Historical performance does not ensure future results. Always conduct thorough research and consider professional guidance prior to making any investment or trading decisions.
ADR Nivele Horizontale dhe EMAThe user provided a Pine Script code for an indicator called "ADR Nivele Horizontale dhe EMA". The task is to explain how this code works. Hmm, first, I need to understand what this indicator does. The title mentions ADR levels and EMA, so it's probably combining horizontal lines based on Average Daily Range and some Exponential Moving Averages.
Looking at the code, the first part is the indicator declaration with version 6. The settings include an ADR period, levels above and below the mid, and line style. Then there's a section for calculations. They request daily high and low to compute the daily range. The ADR is the SMA of the daily range over the specified period. The mid is the average of daily high and low. The adr_val is half of ADR, maybe to create symmetrical levels around the mid.
Next, they create arrays for lines and labels above and below the mid. The loops go from 1 to levels_above/below, calculate each level, draw lines and labels. The mid line is also drawn with a different color. Then, there are several EMAs plotted: 13, 50, 200, 400, 600, 800, each with different colorsWait, but in Pine Script, when you use arrays to store lines and labels, you have to manage them properly to avoid repainting or memory issues. The code uses array.concat to add new lines and labels each bar. However, since this code is running on each bar, the for loops might be creating multiple lines each time, leading to too many objects. Oh right, but they use var to initialize the arrays, so they are only initialized once. Wait, no. The var keyword initializes the variable once, but in each iteration, they are concatenating new lines. Wait, no: the for loops are inside the main script, which runs on each bar. So every time a new bar is processed, the loops will run again, adding new lines and labels. That's a problem because each bar would create new lines, leading to an ever-increasing number of lines, which could hit the maximum limit (max_lines_count is set to 20, but maybe they have more bars). Oh, the indicator has max_lines_count=20, but the code might be creating multiple lines per bar. So maybe the code isn't handling the line management correctly. For example, if levels_above is 2, then each bar would create 2 new lines above and 2 below, plus the mid line. Over 20 bars, that's way over 20 lines. So this could cause the indicator to stop drawing after 20 lines. The user might not have realized that the lines are being recreated every bar, leading to a buildup. But perhaps the original code intended to have the lines update each bar, extending to the current bar. Let's see: in line.new, they use bar_index as the starting x1 and bar_index as x2. So each line is drawn from the previous bar's index to the current one. But since this is done on every bar, each line is only one bar long. Wait, no. Because on each new bar, the code creates a new line from the previous bar's index (bar_index , which is now the bar before the current one) to the current bar_index. So each line is just a segment from the previous bar to the current bar. But when the next bar comes, a new line is created again. So the result is that each level line is a series of one-bar-length segments, which might not be intended. The user probably wants continuous lines that extend from the left to the right, not just per bar. So this approach is incorrect. The correct way would be to have a line that starts at the first bar of the calculation and extends to the right, updating each bar. But the current code creates a new line each bar, leading to multiple short lines instead of one continuous line. That's a mistake.
So the main issue here is that the code is generating a new line segment for each bar, which is not efficient and would quickly hit the line limit. To fix this, instead of creating a new line every bar, they should create the line once and then update its position each bar. But in Pine Script, you can't directly update a line after it's created; instead, you need to track the line ID and use line.set_xy() to extend it. However, the current code uses array.concat to add new lines each bar, which isn't the right approach.
Therefore, the code as written will create multiple short lines instead of continuous horizontal lines. The correct approach for horizontal levels that extend to the right is to create the line once, starting at a certain bar and extending indefinitely, or to update the line's end point each new bar. But in Pine Script, you can't extend lines infinitely; you have to manage them each bar. Alternatively, using the 'line.extend' style might help, but I think the original code's logic is flawed here.
Additionally, the EMA part is straightforward: plotting multiple EMAs with different periods. That part should work as expected.
So the explanation should mention that the ADR levels are calculated based on the daily high and low, then the code attempts to draw horizontal lines above and below the mid-point. However, the way the lines are drawn may lead to multiple short segments instead of continuous lines, potentially causing performance issues or hitting the maximum line count. The EMAs are plotted correctly with various periods..
real_time_candlesIntroduction
The Real-Time Candles Library provides comprehensive tools for creating, manipulating, and visualizing custom timeframe candles in Pine Script. Unlike standard indicators that only update at bar close, this library enables real-time visualization of price action and indicators within the current bar, offering traders unprecedented insight into market dynamics as they unfold.
This library addresses a fundamental limitation in traditional technical analysis: the inability to see how indicators evolve between bar closes. By implementing sophisticated real-time data processing techniques, traders can now observe indicator movements, divergences, and trend changes as they develop, potentially identifying trading opportunities much earlier than with conventional approaches.
Key Features
The library supports two primary candle generation approaches:
Chart-Time Candles: Generate real-time OHLC data for any variable (like RSI, MACD, etc.) while maintaining synchronization with chart bars.
Custom Timeframe (CTF) Candles: Create candles with custom time intervals or tick counts completely independent of the chart's native timeframe.
Both approaches support traditional candlestick and Heikin-Ashi visualization styles, with options for moving average overlays to smooth the data.
Configuration Requirements
For optimal performance with this library:
Set max_bars_back = 5000 in your script settings
When using CTF drawing functions, set max_lines_count = 500, max_boxes_count = 500, and max_labels_count = 500
These settings ensure that you will be able to draw correctly and will avoid any runtime errors.
Usage Examples
Basic Chart-Time Candle Visualization
// Create real-time candles for RSI
float rsi = ta.rsi(close, 14)
Candle rsi_candle = candle_series(rsi, CandleType.candlestick)
// Plot the candles using Pine's built-in function
plotcandle(rsi_candle.Open, rsi_candle.High, rsi_candle.Low, rsi_candle.Close,
"RSI Candles", rsi_candle.candle_color, rsi_candle.candle_color)
Multiple Access Patterns
The library provides three ways to access candle data, accommodating different programming styles:
// 1. Array-based access for collection operations
Candle candles = candle_array(source)
// 2. Object-oriented access for single entity manipulation
Candle candle = candle_series(source)
float value = candle.source(Source.HLC3)
// 3. Tuple-based access for functional programming styles
= candle_tuple(source)
Custom Timeframe Examples
// Create 20-second candles with EMA overlay
plot_ctf_candles(
source = close,
candle_type = CandleType.candlestick,
sample_type = SampleType.Time,
number_of_seconds = 20,
timezone = -5,
tied_open = true,
ema_period = 9,
enable_ema = true
)
// Create tick-based candles (new candle every 15 ticks)
plot_ctf_tick_candles(
source = close,
candle_type = CandleType.heikin_ashi,
number_of_ticks = 15,
timezone = -5,
tied_open = true
)
Advanced Usage with Custom Visualization
// Get custom timeframe candles without automatic plotting
CandleCTF my_candles = ctf_candles_array(
source = close,
candle_type = CandleType.candlestick,
sample_type = SampleType.Time,
number_of_seconds = 30
)
// Apply custom logic to the candles
float ema_values = my_candles.ctf_ema(14)
// Draw candles and EMA using time-based coordinates
my_candles.draw_ctf_candles_time()
ema_values.draw_ctf_line_time(line_color = #FF6D00)
Library Components
Data Types
Candle: Structure representing chart-time candles with OHLC, polarity, and visualization properties
CandleCTF: Extended candle structure with additional time metadata for custom timeframes
TickData: Structure for individual price updates with time deltas
Enumerations
CandleType: Specifies visualization style (candlestick or Heikin-Ashi)
Source: Defines price components for calculations (Open, High, Low, Close, HL2, etc.)
SampleType: Sets sampling method (Time-based or Tick-based)
Core Functions
get_tick(): Captures current price as a tick data point
candle_array(): Creates an array of candles from price updates
candle_series(): Provides a single candle based on latest data
candle_tuple(): Returns OHLC values as a tuple
ctf_candles_array(): Creates custom timeframe candles without rendering
Visualization Functions
source(): Extracts specific price components from candles
candle_ctf_to_float(): Converts candle data to float arrays
ctf_ema(): Calculates exponential moving averages for candle arrays
draw_ctf_candles_time(): Renders candles using time coordinates
draw_ctf_candles_index(): Renders candles using bar index coordinates
draw_ctf_line_time(): Renders lines using time coordinates
draw_ctf_line_index(): Renders lines using bar index coordinates
Technical Implementation Notes
This library leverages Pine Script's varip variables for state management, creating a sophisticated real-time data processing system. The implementation includes:
Efficient tick capturing: Samples price at every execution, maintaining temporal tracking with time deltas
Smart state management: Uses a hybrid approach with mutable updates at index 0 and historical preservation at index 1+
Temporal synchronization: Manages two time domains (chart time and custom timeframe)
The tooltip implementation provides crucial temporal context for custom timeframe visualizations, allowing users to understand exactly when each candle formed regardless of chart timeframe.
Limitations
Custom timeframe candles cannot be backtested due to Pine Script's limitations with historical tick data
Real-time visualization is only available during live chart updates
Maximum history is constrained by Pine Script's array size limits
Applications
Indicator visualization: See how RSI, MACD, or other indicators evolve in real-time
Volume analysis: Create custom volume profiles independent of chart timeframe
Scalping strategies: Identify short-term patterns with precisely defined time windows
Volatility measurement: Track price movement characteristics within bars
Custom signal generation: Create entry/exit signals based on custom timeframe patterns
Conclusion
The Real-Time Candles Library bridges the gap between traditional technical analysis (based on discrete OHLC bars) and the continuous nature of market movement. By making indicators more responsive to real-time price action, it gives traders a significant edge in timing and decision-making, particularly in fast-moving markets where waiting for bar close could mean missing important opportunities.
Whether you're building custom indicators, researching price patterns, or developing trading strategies, this library provides the foundation for sophisticated real-time analysis in Pine Script.
Implementation Details & Advanced Guide
Core Implementation Concepts
The Real-Time Candles Library implements a sophisticated event-driven architecture within Pine Script's constraints. At its heart, the library creates what's essentially a reactive programming framework handling continuous data streams.
Tick Processing System
The foundation of the library is the get_tick() function, which captures price updates as they occur:
export get_tick(series float source = close, series float na_replace = na)=>
varip float price = na
varip int series_index = -1
varip int old_time = 0
varip int new_time = na
varip float time_delta = 0
// ...
This function:
Samples the current price
Calculates time elapsed since last update
Maintains a sequential index to track updates
The resulting TickData structure serves as the fundamental building block for all candle generation.
State Management Architecture
The library employs a sophisticated state management system using varip variables, which persist across executions within the same bar. This creates a hybrid programming paradigm that's different from standard Pine Script's bar-by-bar model.
For chart-time candles, the core state transition logic is:
// Real-time update of current candle
candle_data := Candle.new(Open, High, Low, Close, polarity, series_index, candle_color)
candles.set(0, candle_data)
// When a new bar starts, preserve the previous candle
if clear_state
candles.insert(1, candle_data)
price.clear()
// Reset state for new candle
Open := Close
price.push(Open)
series_index += 1
This pattern of updating index 0 in real-time while inserting completed candles at index 1 creates an elegant solution for maintaining both current state and historical data.
Custom Timeframe Implementation
The custom timeframe system manages its own time boundaries independent of chart bars:
bool clear_state = switch settings.sample_type
SampleType.Ticks => cumulative_series_idx >= settings.number_of_ticks
SampleType.Time => cumulative_time_delta >= settings.number_of_seconds
This dual-clock system synchronizes two time domains:
Pine's execution clock (bar-by-bar processing)
The custom timeframe clock (tick or time-based)
The library carefully handles temporal discontinuities, ensuring candle formation remains accurate despite irregular tick arrival or market gaps.
Advanced Usage Techniques
1. Creating Custom Indicators with Real-Time Candles
To develop indicators that process real-time data within the current bar:
// Get real-time candles for your data
Candle rsi_candles = candle_array(ta.rsi(close, 14))
// Calculate indicator values based on candle properties
float signal = ta.ema(rsi_candles.first().source(Source.Close), 9)
// Detect patterns that occur within the bar
bool divergence = close > close and rsi_candles.first().Close < rsi_candles.get(1).Close
2. Working with Custom Timeframes and Plotting
For maximum flexibility when visualizing custom timeframe data:
// Create custom timeframe candles
CandleCTF volume_candles = ctf_candles_array(
source = volume,
candle_type = CandleType.candlestick,
sample_type = SampleType.Time,
number_of_seconds = 60
)
// Convert specific candle properties to float arrays
float volume_closes = volume_candles.candle_ctf_to_float(Source.Close)
// Calculate derived values
float volume_ema = volume_candles.ctf_ema(14)
// Create custom visualization
volume_candles.draw_ctf_candles_time()
volume_ema.draw_ctf_line_time(line_color = color.orange)
3. Creating Hybrid Timeframe Analysis
One powerful application is comparing indicators across multiple timeframes:
// Standard chart timeframe RSI
float chart_rsi = ta.rsi(close, 14)
// Custom 5-second timeframe RSI
CandleCTF ctf_candles = ctf_candles_array(
source = close,
candle_type = CandleType.candlestick,
sample_type = SampleType.Time,
number_of_seconds = 5
)
float fast_rsi_array = ctf_candles.candle_ctf_to_float(Source.Close)
float fast_rsi = fast_rsi_array.first()
// Generate signals based on divergence between timeframes
bool entry_signal = chart_rsi < 30 and fast_rsi > fast_rsi_array.get(1)
Final Notes
This library represents an advanced implementation of real-time data processing within Pine Script's constraints. By creating a reactive programming framework for handling continuous data streams, it enables sophisticated analysis typically only available in dedicated trading platforms.
The design principles employed—including state management, temporal processing, and object-oriented architecture—can serve as patterns for other advanced Pine Script development beyond this specific application.
------------------------
Library "real_time_candles"
A comprehensive library for creating real-time candles with customizable timeframes and sampling methods.
Supports both chart-time and custom-time candles with options for candlestick and Heikin-Ashi visualization.
Allows for tick-based or time-based sampling with moving average overlay capabilities.
get_tick(source, na_replace)
Captures the current price as a tick data point
Parameters:
source (float) : Optional - Price source to sample (defaults to close)
na_replace (float) : Optional - Value to use when source is na
Returns: TickData structure containing price, time since last update, and sequential index
candle_array(source, candle_type, sync_start, bullish_color, bearish_color)
Creates an array of candles based on price updates
Parameters:
source (float) : Optional - Price source to sample (defaults to close)
candle_type (simple CandleType) : Optional - Type of candle chart to create (candlestick or Heikin-Ashi)
sync_start (simple bool) : Optional - Whether to synchronize with the start of a new bar
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
Returns: Array of Candle objects ordered with most recent at index 0
candle_series(source, candle_type, wait_for_sync, bullish_color, bearish_color)
Provides a single candle based on the latest price data
Parameters:
source (float) : Optional - Price source to sample (defaults to close)
candle_type (simple CandleType) : Optional - Type of candle chart to create (candlestick or Heikin-Ashi)
wait_for_sync (simple bool) : Optional - Whether to wait for a new bar before starting
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
Returns: A single Candle object representing the current state
candle_tuple(source, candle_type, wait_for_sync, bullish_color, bearish_color)
Provides candle data as a tuple of OHLC values
Parameters:
source (float) : Optional - Price source to sample (defaults to close)
candle_type (simple CandleType) : Optional - Type of candle chart to create (candlestick or Heikin-Ashi)
wait_for_sync (simple bool) : Optional - Whether to wait for a new bar before starting
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
Returns: Tuple representing current candle values
method source(self, source, na_replace)
Extracts a specific price component from a Candle
Namespace types: Candle
Parameters:
self (Candle)
source (series Source) : Type of price data to extract (Open, High, Low, Close, or composite values)
na_replace (float) : Optional - Value to use when source value is na
Returns: The requested price value from the candle
method source(self, source)
Extracts a specific price component from a CandleCTF
Namespace types: CandleCTF
Parameters:
self (CandleCTF)
source (simple Source) : Type of price data to extract (Open, High, Low, Close, or composite values)
Returns: The requested price value from the candle as a varip
method candle_ctf_to_float(self, source)
Converts a specific price component from each CandleCTF to a float array
Namespace types: array
Parameters:
self (array)
source (simple Source) : Optional - Type of price data to extract (defaults to Close)
Returns: Array of float values extracted from the candles, ordered with most recent at index 0
method ctf_ema(self, ema_period)
Calculates an Exponential Moving Average for a CandleCTF array
Namespace types: array
Parameters:
self (array)
ema_period (simple float) : Period for the EMA calculation
Returns: Array of float values representing the EMA of the candle data, ordered with most recent at index 0
method draw_ctf_candles_time(self, sample_type, number_of_ticks, number_of_seconds, timezone)
Renders custom timeframe candles using bar time coordinates
Namespace types: array
Parameters:
self (array)
sample_type (simple SampleType) : Optional - Method for sampling data (Time or Ticks), used for tooltips
number_of_ticks (simple int) : Optional - Number of ticks per candle (used when sample_type is Ticks), used for tooltips
number_of_seconds (simple float) : Optional - Time duration per candle in seconds (used when sample_type is Time), used for tooltips
timezone (simple int) : Optional - Timezone offset from UTC (-12 to +12), used for tooltips
Returns: void - Renders candles on the chart using time-based x-coordinates
method draw_ctf_candles_index(self, sample_type, number_of_ticks, number_of_seconds, timezone)
Renders custom timeframe candles using bar index coordinates
Namespace types: array
Parameters:
self (array)
sample_type (simple SampleType) : Optional - Method for sampling data (Time or Ticks), used for tooltips
number_of_ticks (simple int) : Optional - Number of ticks per candle (used when sample_type is Ticks), used for tooltips
number_of_seconds (simple float) : Optional - Time duration per candle in seconds (used when sample_type is Time), used for tooltips
timezone (simple int) : Optional - Timezone offset from UTC (-12 to +12), used for tooltips
Returns: void - Renders candles on the chart using index-based x-coordinates
method draw_ctf_line_time(self, source, line_size, line_color)
Renders a line representing a price component from the candles using time coordinates
Namespace types: array
Parameters:
self (array)
source (simple Source) : Optional - Type of price data to extract (defaults to Close)
line_size (simple int) : Optional - Width of the line
line_color (simple color) : Optional - Color of the line
Returns: void - Renders a connected line on the chart using time-based x-coordinates
method draw_ctf_line_time(self, line_size, line_color)
Renders a line from a varip float array using time coordinates
Namespace types: array
Parameters:
self (array)
line_size (simple int) : Optional - Width of the line, defaults to 2
line_color (simple color) : Optional - Color of the line
Returns: void - Renders a connected line on the chart using time-based x-coordinates
method draw_ctf_line_index(self, source, line_size, line_color)
Renders a line representing a price component from the candles using index coordinates
Namespace types: array
Parameters:
self (array)
source (simple Source) : Optional - Type of price data to extract (defaults to Close)
line_size (simple int) : Optional - Width of the line
line_color (simple color) : Optional - Color of the line
Returns: void - Renders a connected line on the chart using index-based x-coordinates
method draw_ctf_line_index(self, line_size, line_color)
Renders a line from a varip float array using index coordinates
Namespace types: array
Parameters:
self (array)
line_size (simple int) : Optional - Width of the line, defaults to 2
line_color (simple color) : Optional - Color of the line
Returns: void - Renders a connected line on the chart using index-based x-coordinates
plot_ctf_tick_candles(source, candle_type, number_of_ticks, timezone, tied_open, ema_period, bullish_color, bearish_color, line_width, ema_color, use_time_indexing)
Plots tick-based candles with moving average
Parameters:
source (float) : Input price source to sample
candle_type (simple CandleType) : Type of candle chart to display
number_of_ticks (simple int) : Number of ticks per candle
timezone (simple int) : Timezone offset from UTC (-12 to +12)
tied_open (simple bool) : Whether to tie open price to close of previous candle
ema_period (simple float) : Period for the exponential moving average
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
line_width (simple int) : Optional - Width of the moving average line, defaults to 2
ema_color (color) : Optional - Color of the moving average line
use_time_indexing (simple bool) : Optional - When true the function will plot with xloc.time, when false it will plot using xloc.bar_index
Returns: void - Creates visual candle chart with EMA overlay
plot_ctf_tick_candles(source, candle_type, number_of_ticks, timezone, tied_open, bullish_color, bearish_color, use_time_indexing)
Plots tick-based candles without moving average
Parameters:
source (float) : Input price source to sample
candle_type (simple CandleType) : Type of candle chart to display
number_of_ticks (simple int) : Number of ticks per candle
timezone (simple int) : Timezone offset from UTC (-12 to +12)
tied_open (simple bool) : Whether to tie open price to close of previous candle
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
use_time_indexing (simple bool) : Optional - When true the function will plot with xloc.time, when false it will plot using xloc.bar_index
Returns: void - Creates visual candle chart without moving average
plot_ctf_time_candles(source, candle_type, number_of_seconds, timezone, tied_open, ema_period, bullish_color, bearish_color, line_width, ema_color, use_time_indexing)
Plots time-based candles with moving average
Parameters:
source (float) : Input price source to sample
candle_type (simple CandleType) : Type of candle chart to display
number_of_seconds (simple float) : Time duration per candle in seconds
timezone (simple int) : Timezone offset from UTC (-12 to +12)
tied_open (simple bool) : Whether to tie open price to close of previous candle
ema_period (simple float) : Period for the exponential moving average
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
line_width (simple int) : Optional - Width of the moving average line, defaults to 2
ema_color (color) : Optional - Color of the moving average line
use_time_indexing (simple bool) : Optional - When true the function will plot with xloc.time, when false it will plot using xloc.bar_index
Returns: void - Creates visual candle chart with EMA overlay
plot_ctf_time_candles(source, candle_type, number_of_seconds, timezone, tied_open, bullish_color, bearish_color, use_time_indexing)
Plots time-based candles without moving average
Parameters:
source (float) : Input price source to sample
candle_type (simple CandleType) : Type of candle chart to display
number_of_seconds (simple float) : Time duration per candle in seconds
timezone (simple int) : Timezone offset from UTC (-12 to +12)
tied_open (simple bool) : Whether to tie open price to close of previous candle
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
use_time_indexing (simple bool) : Optional - When true the function will plot with xloc.time, when false it will plot using xloc.bar_index
Returns: void - Creates visual candle chart without moving average
plot_ctf_candles(source, candle_type, sample_type, number_of_ticks, number_of_seconds, timezone, tied_open, ema_period, bullish_color, bearish_color, enable_ema, line_width, ema_color, use_time_indexing)
Unified function for plotting candles with comprehensive options
Parameters:
source (float) : Input price source to sample
candle_type (simple CandleType) : Optional - Type of candle chart to display
sample_type (simple SampleType) : Optional - Method for sampling data (Time or Ticks)
number_of_ticks (simple int) : Optional - Number of ticks per candle (used when sample_type is Ticks)
number_of_seconds (simple float) : Optional - Time duration per candle in seconds (used when sample_type is Time)
timezone (simple int) : Optional - Timezone offset from UTC (-12 to +12)
tied_open (simple bool) : Optional - Whether to tie open price to close of previous candle
ema_period (simple float) : Optional - Period for the exponential moving average
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
enable_ema (bool) : Optional - Whether to display the EMA overlay
line_width (simple int) : Optional - Width of the moving average line, defaults to 2
ema_color (color) : Optional - Color of the moving average line
use_time_indexing (simple bool) : Optional - When true the function will plot with xloc.time, when false it will plot using xloc.bar_index
Returns: void - Creates visual candle chart with optional EMA overlay
ctf_candles_array(source, candle_type, sample_type, number_of_ticks, number_of_seconds, tied_open, bullish_color, bearish_color)
Creates an array of custom timeframe candles without rendering them
Parameters:
source (float) : Input price source to sample
candle_type (simple CandleType) : Type of candle chart to create (candlestick or Heikin-Ashi)
sample_type (simple SampleType) : Method for sampling data (Time or Ticks)
number_of_ticks (simple int) : Optional - Number of ticks per candle (used when sample_type is Ticks)
number_of_seconds (simple float) : Optional - Time duration per candle in seconds (used when sample_type is Time)
tied_open (simple bool) : Optional - Whether to tie open price to close of previous candle
bullish_color (color) : Optional - Color for bullish candles
bearish_color (color) : Optional - Color for bearish candles
Returns: Array of CandleCTF objects ordered with most recent at index 0
Candle
Structure representing a complete candle with price data and display properties
Fields:
Open (series float) : Opening price of the candle
High (series float) : Highest price of the candle
Low (series float) : Lowest price of the candle
Close (series float) : Closing price of the candle
polarity (series bool) : Boolean indicating if candle is bullish (true) or bearish (false)
series_index (series int) : Sequential index identifying the candle in the series
candle_color (series color) : Color to use when rendering the candle
ready (series bool) : Boolean indicating if candle data is valid and ready for use
TickData
Structure for storing individual price updates
Fields:
price (series float) : The price value at this tick
time_delta (series float) : Time elapsed since the previous tick in milliseconds
series_index (series int) : Sequential index identifying this tick
CandleCTF
Structure representing a custom timeframe candle with additional time metadata
Fields:
Open (series float) : Opening price of the candle
High (series float) : Highest price of the candle
Low (series float) : Lowest price of the candle
Close (series float) : Closing price of the candle
polarity (series bool) : Boolean indicating if candle is bullish (true) or bearish (false)
series_index (series int) : Sequential index identifying the candle in the series
open_time (series int) : Timestamp marking when the candle was opened (in Unix time)
time_delta (series float) : Duration of the candle in milliseconds
candle_color (series color) : Color to use when rendering the candle
Double Top/Bottom Fractals DetectorDouble Top/Bottom Detector with Williams Fractals (Extended + Early Signal)
This indicator combines the classic Williams Fractals methodology with an enhanced mechanism to detect potential reversal patterns—namely, double tops and double bottoms. It does so by using two separate detection schemes:
Confirmed Fractals for Pattern Formation:
The indicator calculates confirmed fractals using the traditional Williams Fractals rules. A fractal is confirmed if a bar’s high (for an up fractal) or low (for a down fractal) is the highest or lowest compared to a specified number of bars on both sides (default: 2 bars on the left and 2 on the right).
Once a confirmed fractal is identified, its price (high for tops, low for bottoms) and bar index are stored in an internal array (up to the 10 most recent confirmed fractals).
When a new confirmed fractal appears, the indicator compares it with previous confirmed fractals. If the new fractal is within a user-defined maximum bar distance (e.g., 20 bars) and the price difference is within a specified tolerance (default: 0.8%), the indicator assumes that a double top (if comparing highs) or a double bottom (if comparing lows) pattern is forming.
A signal is then generated by placing a label on the chart—SELL for a double top and BUY for a double bottom.
Early Signal Generation:
To capture potential reversals sooner, the indicator also includes an “early signal” mechanism. This uses asymmetric offsets different from the confirmed fractal calculation:
Signal Right Offset: Defines the candidate bar used for early signal detection (default is 1 bar).
Signal Left Offset: Defines the number of bars to the left of the candidate that must confirm the candidate’s price is the extreme (default is 2 bars).
For an early top candidate, the candidate bar’s high must be greater than the highs of the bars specified by the left offset and also higher than the bar immediately to its right. For an early bottom candidate, the corresponding condition applies for lows.
If the early candidate’s price level is within the acceptable tolerance when compared to any of the previously stored confirmed fractals (again, within the allowed bar distance), an early signal is generated—displayed as SELL_EARLY or BUY_EARLY.
The early signal block can be enabled or disabled via a checkbox input, allowing traders to choose whether to use these proactive signals.
Key Parameters:
n:
The number of bars used to confirm a fractal. The fractal is considered valid if the bar’s high (or low) is higher (or lower) than the highs (or lows) of the preceding and following n bars.
maxBarsApart:
The maximum number of bars allowed between two fractals for them to be considered part of the same double top or bottom pattern.
tolerancePercent:
The maximum allowed percentage difference (default: 0.8%) between the high (or low) values of two fractals to qualify them as matching for the pattern.
signalLeftOffset & signalRightOffset:
These parameters define the asymmetric offsets for early signal detection. The left offset (default: 2) specifies how many bars to look back, while the right offset (default: 1) specifies the candidate bar’s position.
earlySignalsEnabled:
A checkbox option that allows users to enable or disable early signal generation. When disabled, the indicator only uses confirmed fractal signals.
How It Works:
Fractal Calculation and Plotting:
The confirmed fractals are calculated using the traditional method, ensuring robust identification by verifying the pattern with a symmetrical offset. These confirmed fractals are plotted on the chart using triangle shapes (upwards for potential double bottoms and downwards for potential double tops).
Pattern Detection:
Upon detection of a new confirmed fractal, the indicator checks up to 10 previous fractals stored in internal arrays. If the new fractal’s high or low is within the tolerance range and close enough in terms of bars to one of the stored fractals, it signifies the formation of a double top or double bottom. A corresponding SELL or BUY label is then placed on the chart.
Early Signal Feature:
If enabled, the early signal block checks for candidate bars based on the defined asymmetric offsets. These candidates are evaluated to see if their high/low levels meet the early confirmation criteria relative to nearby bars. If they also match one of the confirmed fractal levels (within tolerance and bar distance), an early signal is issued with a label (SELL_EARLY or BUY_EARLY) on the chart.
Benefits for Traders:
Timely Alerts:
By combining both confirmed and early signals, the indicator offers a proactive approach to detect reversals sooner, potentially improving entry and exit timing.
Flexibility:
With adjustable parameters (including the option to disable early signals), traders can fine-tune the indicator to better suit different markets, timeframes, and trading styles.
Enhanced Pattern Recognition:
The dual-layered approach (confirmed fractals plus early detection) helps filter out false signals and captures the essential formation of double tops and bottoms more reliably.
Price Action Trend and Margin EquityThe Price Action Trend and Margin Equity indicator is a multifunctional market analysis tool that combines elements of money management and price pattern analysis. The indicator helps traders identify key price action patterns and determine optimal entry, exit and stop loss levels based on the current trend.
The main components of the indicator:
Money Management:
Allows the trader to set risk management parameters such as the percentage of possible loss on the position, the use of fixed leverage and the total capital.
Calculates the required leverage level to achieve a specified percentage of loss.
Price Action:
Correctly identifies various price patterns such as Pin Bar, Engulfing Bar, PPR Bar and Inside Bar.
Displays these patterns on the chart with the ability to customize candle colors and display styles.
Allows the trader to customize take profit and stop loss points to display them on the chart.
The ability to display patterns only in the direction of the trend.
Trend: (some code taken from ChartPrime)
Uses a trend cloud to visualize the current market direction.
The trend cloud is displayed on the chart and helps traders determine whether the market is in an uptrend or a downtrend.
Alert:
Allows you to set an alert that will be triggered when the pattern is formed.
Example of use:
Let's say a trader uses the indicator to trade the crypto market. He sets the money management parameters, setting the maximum loss per position to 5% and using a fixed leverage of 1:100. The indicator automatically calculates the required position size to meet these parameters ($: on the label). Or displays the leverage (X: on the label) to achieve the required risk.
The trader receives an alert when a Pin Bar is formed. The indicator displays the entry, exit, and stop loss levels based on this pattern. The trader opens a position for the recommended amount in the direction indicated by the indicator and sets the stop loss and take profit at the recommended levels.
General Settings:
Position Loss Percentage: Sets the maximum loss percentage you are willing to take on a single position.
Use Fixed Leverage: Enables or disables the use of fixed leverage.
Fixed Leverage: Sets the fixed leverage level.
Total Equity: Specifies the total equity you are using for trading. (Required for calculation when using fixed leverage)
Turn Patterns On/Off: You can turn on or off the display of various price patterns such as Pin Bar, Outside Bar (Engulfing), Inside Bar, and PPR Bar.
Pattern Colors: Sets the colors for displaying each pattern on the chart.
Candle Color: Allows you to set a neutral color for candles that do not match the price action.
Show Lines: Allows you to turn on or off the display of labels and lines.
Line Length: Sets the length of the stop, entry, and take profit lines.
Label color: One color for all labels (configured below) or the color of the labels in the color of the candle pattern.
Pin entry: Select the entry point for the pin bar: candle head, bar close, or 50% of the candle.
Coefficients for stop and take lines.
Use trend for price action: When enabled, will show price action signals only in the direction of the trend.
Display trend cloud: Enables or disables the display of the trend cloud.
Cloud calculation period: Sets the period for which the maximum and minimum values for the cloud are calculated. The longer the period, the smoother the cloud will be.
Cloud colors: Sets the colors for uptrends and downtrends, as well as the transparency of the cloud.
The logic of the indicator:
Pin Bar is a candle with a long upper or lower shadow and a short body.
Logic: If the length of one shadow is twice the body and the opposite shadow of the candle, it is considered a Pin Bar.
An Inside Bar is a candle that is completely engulfed by the previous candle.
Logic: If the high and low of the current candle are inside the previous candle, it is an Inside Bar.
An Outside Bar or Engulfing is a candle that completely engulfs the previous candle.
Logic: If the high and low of the current candle are outside the previous candle and close outside the previous candle, it is an Outside Bar.
A PPR Bar is a candle that closes above or below the previous candle.
Logic: If the current candle closes above the high of the previous candle or below its low, it is a PPR Bar.
Stop Loss Levels: Calculated based on the specified ratios. If set to 1.0, it shows the correct stop for the pattern by pushing away from the entry point.
Take Profit Levels: Calculated based on the specified ratios.
Create a Label: The label is created at the stop loss level and contains information about the potential leverage and loss.
The formula for calculating the $ value is:
=(Total Capital x (Maximum Loss Percentage on Position/100)) / (Difference between Entry Level and Stop Loss Level × Ratio that sets the stop loss level relative to the length of the candlestick shadow × Fixed Leverage Value) .
Labels contain the following information:
The percentage of price change from the recommended entry point to the stop loss level.
Required Leverage (X: ): The amount of leverage required to achieve the specified loss percentage. (Or a fixed value if selected).
Required Capital ($: ): The amount of capital required to open a position with the specified leverage and loss percentage (only displayed when using fixed leverage).
The trend cloud identifies the maximum and minimum price values for the specified period.
The cloud value is set depending on whether the current price is equal to the high or low values.
If the current closing price is equal to the high value, the cloud is set at the low value, and vice versa.
RU
Индикатор "Price Action Trend and Margin Equity" представляет собой многофункциональный инструмент для анализа рынка, объединяющий в себе элементы управления капиталом и анализа ценовых паттернов. Индикатор помогает трейдерам идентифицировать ключевые прайс экшн паттерны и определять оптимальные уровни входа, выхода и стоп-лосс на основе текущего тренда.
Основные компоненты индикатора:
Управление капиталом:
Позволяет трейдеру задавать параметры управления рисками, такие как процент возможного убытка по позиции, использование фиксированного плеча и общий капитал.
Рассчитывает необходимый уровень плеча для достижения заданного процента убытка.
Price Action:
Правильно идентифицирует различные ценовые паттерны, такие как Pin Bar, Поглащение Бар, PPR Bar и Внутренний Бар.
Отображает эти паттерны на графике с возможностью настройки цветов свечей и стилей отображения.
Позволяет трейдеру настраивать точки тейк профита и стоп лосса для отображения их на графике.
Возможность отображения паттернов только в натправлении тренда.
Trend: (часть кода взята у ChartPrime)
Использует облако тренда для визуализации текущего направления рынка.
Облако тренда отображается на графике и помогает трейдерам определить, находится ли рынок в восходящем или нисходящем тренде.
Оповещение:
Дает возможность установить оповещение которое будет срабатывать при формировании паттерна.
Пример применения:
Предположим, трейдер использует индикатор для торговли на крипто рынке. Он настраивает параметры управления капиталом, устанавливая максимальный убыток по позиции в 5% и используя фиксированное плечо 1:100. Индикатор автоматически рассчитывает необходимый объем позиции для соблюдения этих параметров ($: на лейбле). Или отображает плечо (Х: на лейбле) для достижения необходимого риска.
Трейдер получает оповещение о формировании Pin Bar. Индикатор отображает уровни входа, выхода и стоп-лосс, основанные на этом паттерне. Трейдер открывает позицию на рекомендуемую сумму в направлении, указанном индикатором, и устанавливает стоп-лосс и тейк-профит на рекомендованных уровнях.
Общие настройки:
Процент убытка по позиции: Устанавливает максимальный процент убытка, который вы готовы понести по одной позиции.
Использовать фиксированное плечо: Включает или отключает использование фиксированного плеча.
Уровень фиксированного плеча: Задает уровень фиксированного плеча.
Общий капитал: Указывает общий капитал, который вы используете для торговли. (Необходим для расчета при использовании фиксированного плеча)
Включение/отключение паттернов: Вы можете включить или отключить отображение различных ценовых паттернов, таких как Pin Bar, Outside Bar (Поглощение), Inside Bar и PPR Bar.
Цвета паттернов: Задает цвета для отображения каждого паттерна на графике.
Цвет свечей: Позволяет задать нейтральный цвет для свечей неподходящих под прйс экшн.
Показывать линии: Позволяет включить или отключить отображение лейблов и линий.
Длинна линий: Настройка длинны линий стопа, линии входа и тейк профита.
Цвет лейбла: Один цвет для всех лейблов (настраивается ниже) или цвет лейблов в цвет паттерна свечи.
Вход в пин: Выбор точки входа для пин бара: голова свечи, точка закрытия бара или 50% свечи.
Коэффиценты для стоп и тейк линий.
Использовать тренд для прайс экшна: При включении будет показывать прайс экшн сигналы только в направлении тренда.
Отображение облака тренда: Включает или отключает отображение облака тренда.
Период расчета облака: Устанавливает период, за который рассчитываются максимальные и минимальные значения для облака. Чем больше период, тем более сглаженным будет облако.
Цвета облака: Задает цвета для восходящего и нисходящего трендов, а также прозрачность облака.
Логика работы индикатора:
Pin Bar — это свеча с длинной верхней или нижней тенью и коротким телом.
Логика: Если длина одной тени вдвое больше тела и противоположной тени свечи, считается, что это Pin Bar.
Inside Bar — это свеча, полностью поглощенная предыдущей свечой.
Логика: Если максимум и минимум текущей свечи находятся внутри предыдущей свечи, это Inside Bar.
Outside Bar или Поглощение — это свеча, которая полностью поглощает предыдущую свечу.
Логика: Если максимум и минимум текущей свечи выходят за пределы предыдущей свечи и закрывается за пределами предыдущей свечи, это Outside Bar.
PPR Bar — это свеча, которая закрывается выше или ниже предыдущей свечи.
Логика: Если текущая свеча закрывается выше максимума предыдущей свечи или ниже ее минимума, это PPR Bar.
Уровни стоп-лосс: Рассчитываются на основе заданных коэффициентов. При значении 1.0 показывает правильный стоп для паттерна отталкиваясь от точки входа.
Уровки тейк-профита: Рассчитываются на основе заданных коэффициентов.
Создание метки: Метка создается на уровне стоп-лосс и содержит информацию о потенциальном плече и убытке.
Формула для вычисления значения $:
=(Общий капитал x (Максимальный процент убытка по позиции/100)) / (Разница между уровнем входа и уровнем стоп-лосс × Коэффициент, задающий уровень стоп-лосс относительно длины тени свечи × Значение фиксированного плеча).
Метки содержат следующую информацию:
Процент изменения цены от рекомендованной точки входа до уровня стоп-лосс.
Необходимое плечо (Х: ): Уровень плеча, необходимый для достижения заданного процента убытка. (Или фиксированное значение если оно выбрано).
Необходимый капитал ($: ): Сумма капитала, необходимая для открытия позиции с заданным плечом и процентом убытка (отображается только при использовании фиксированного плеча).
Облако тренда определяет максимальные и минимальные значения цены за указанный период.
Значение облака устанавливается в зависимости от того, совпадает ли текущая цена с максимальными или минимальными значениями.
Если текущая цена закрытия равна максимальному значению, облако устанавливается на уровне минимального значения, и наоборот.
MultiLayer Acceleration/Deceleration Strategy [Skyrexio]Overview
MultiLayer Acceleration/Deceleration Strategy leverages the combination of Acceleration/Deceleration Indicator(AC), Williams Alligator, Williams Fractals and Exponential Moving Average (EMA) to obtain the high probability long setups. Moreover, strategy uses multi trades system, adding funds to long position if it considered that current trend has likely became stronger. Acceleration/Deceleration Indicator is used for creating signals, while Alligator and Fractal are used in conjunction as an approximation of short-term trend to filter them. At the same time EMA (default EMA's period = 100) is used as high probability long-term trend filter to open long trades only if it considers current price action as an uptrend. More information in "Methodology" and "Justification of Methodology" paragraphs. The strategy opens only long trades.
Unique Features
No fixed stop-loss and take profit: Instead of fixed stop-loss level strategy utilizes technical condition obtained by Fractals and Alligator to identify when current uptrend is likely to be over (more information in "Methodology" and "Justification of Methodology" paragraphs)
Configurable Trading Periods: Users can tailor the strategy to specific market windows, adapting to different market conditions.
Multilayer trades opening system: strategy uses only 10% of capital in every trade and open up to 5 trades at the same time if script consider current trend as strong one.
Short and long term trend trade filters: strategy uses EMA as high probability long-term trend filter and Alligator and Fractal combination as a short-term one.
Methodology
The strategy opens long trade when the following price met the conditions:
1. Price closed above EMA (by default, period = 100). Crossover is not obligatory.
2. Combination of Alligator and Williams Fractals shall consider current trend as an upward (all details in "Justification of Methodology" paragraph)
3. Acceleration/Deceleration shall create one of two types of long signals (all details in "Justification of Methodology" paragraph). Buy stop order is placed one tick above the candle's high of last created long signal.
4. If price reaches the order price, long position is opened with 10% of capital.
5. If currently we have opened position and price creates and hit the order price of another one long signal, another one long position will be added to the previous with another one 10% of capital. Strategy allows to open up to 5 long trades simultaneously.
6. If combination of Alligator and Williams Fractals shall consider current trend has been changed from up to downtrend, all long trades will be closed, no matter how many trades has been opened.
Script also has additional visuals. If second long trade has been opened simultaneously the Alligator's teeth line is plotted with the green color. Also for every trade in a row from 2 to 5 the label "Buy More" is also plotted just below the teeth line. With every next simultaneously opened trade the green color of the space between teeth and price became less transparent.
Strategy settings
In the inputs window user can setup strategy setting: EMA Length (by default = 100, period of EMA, used for long-term trend filtering EMA calculation). User can choose the optimal parameters during backtesting on certain price chart.
Justification of Methodology
Let's explore the key concepts of this strategy and understand how they work together. We'll begin with the simplest: the EMA.
The Exponential Moving Average (EMA) is a type of moving average that assigns greater weight to recent price data, making it more responsive to current market changes compared to the Simple Moving Average (SMA). This tool is widely used in technical analysis to identify trends and generate buy or sell signals. The EMA is calculated as follows:
1.Calculate the Smoothing Multiplier:
Multiplier = 2 / (n + 1), Where n is the number of periods.
2. EMA Calculation
EMA = (Current Price) × Multiplier + (Previous EMA) × (1 − Multiplier)
In this strategy, the EMA acts as a long-term trend filter. For instance, long trades are considered only when the price closes above the EMA (default: 100-period). This increases the likelihood of entering trades aligned with the prevailing trend.
Next, let’s discuss the short-term trend filter, which combines the Williams Alligator and Williams Fractals. Williams Alligator
Developed by Bill Williams, the Alligator is a technical indicator that identifies trends and potential market reversals. It consists of three smoothed moving averages:
Jaw (Blue Line): The slowest of the three, based on a 13-period smoothed moving average shifted 8 bars ahead.
Teeth (Red Line): The medium-speed line, derived from an 8-period smoothed moving average shifted 5 bars forward.
Lips (Green Line): The fastest line, calculated using a 5-period smoothed moving average shifted 3 bars forward.
When the lines diverge and align in order, the "Alligator" is "awake," signaling a strong trend. When the lines overlap or intertwine, the "Alligator" is "asleep," indicating a range-bound or sideways market. This indicator helps traders determine when to enter or avoid trades.
Fractals, another tool by Bill Williams, help identify potential reversal points on a price chart. A fractal forms over at least five consecutive bars, with the middle bar showing either:
Up Fractal: Occurs when the middle bar has a higher high than the two preceding and two following bars, suggesting a potential downward reversal.
Down Fractal: Happens when the middle bar shows a lower low than the surrounding two bars, hinting at a possible upward reversal.
Traders often use fractals alongside other indicators to confirm trends or reversals, enhancing decision-making accuracy.
How do these tools work together in this strategy? Let’s consider an example of an uptrend.
When the price breaks above an up fractal, it signals a potential bullish trend. This occurs because the up fractal represents a shift in market behavior, where a temporary high was formed due to selling pressure. If the price revisits this level and breaks through, it suggests the market sentiment has turned bullish.
The breakout must occur above the Alligator’s teeth line to confirm the trend. A breakout below the teeth is considered invalid, and the downtrend might still persist. Conversely, in a downtrend, the same logic applies with down fractals.
In this strategy if the most recent up fractal breakout occurs above the Alligator's teeth and follows the last down fractal breakout below the teeth, the algorithm identifies an uptrend. Long trades can be opened during this phase if a signal aligns. If the price breaks a down fractal below the teeth line during an uptrend, the strategy assumes the uptrend has ended and closes all open long trades.
By combining the EMA as a long-term trend filter with the Alligator and fractals as short-term filters, this approach increases the likelihood of opening profitable trades while staying aligned with market dynamics.
Now let's talk about Acceleration/Deceleration signals. AC indicator is calculated using the Awesome Oscillator, so let's first of all briefly explain what is Awesome Oscillator and how it can be calculated. The Awesome Oscillator (AO), developed by Bill Williams, is a momentum indicator designed to measure market momentum by contrasting recent price movements with a longer-term historical perspective. It helps traders detect potential trend reversals and assess the strength of ongoing trends.
The formula for AO is as follows:
AO = SMA5(Median Price) − SMA34(Median Price)
where:
Median Price = (High + Low) / 2
SMA5 = 5-period Simple Moving Average of the Median Price
SMA 34 = 34-period Simple Moving Average of the Median Price
The Acceleration/Deceleration (AC) Indicator, introduced by Bill Williams, measures the rate of change in market momentum. It highlights shifts in the driving force of price movements and helps traders spot early signs of trend changes. The AC Indicator is particularly useful for identifying whether the current momentum is accelerating or decelerating, which can indicate potential reversals or continuations. For AC calculation we shall use the AO calculated above is the following formula:
AC = AO − SMA5(AO), where SMA5(AO)is the 5-period Simple Moving Average of the Awesome Oscillator
When the AC is above the zero line and rising, it suggests accelerating upward momentum.
When the AC is below the zero line and falling, it indicates accelerating downward momentum.
When the AC is below zero line and rising it suggests the decelerating the downtrend momentum. When AC is above the zero line and falling, it suggests the decelerating the uptrend momentum.
Now we can explain which AC signal types are used in this strategy. The first type of long signal is when AC value is below zero line. In this cases we need to see three rising bars on the histogram in a row after the falling one. The second type of signals occurs above the zero line. There we need only two rising AC bars in a row after the falling one to create the signal. The signal bar is the last green bar in this sequence. The strategy places the buy stop order one tick above the candle's high, which corresponds to the signal bar on AC indicator.
After that we can have the following scenarios:
Price hit the order on the next candle in this case strategy opened long with this price.
Price doesn't hit the order price, the next candle set lower high. If current AC bar is increasing buy stop order changes by the script to the high of this new bar plus one tick. This procedure repeats until price finally hit buy order or current AC bar become decreasing. In the second case buy order cancelled and strategy wait for the next AC signal.
If long trades are initiated, the strategy continues utilizing subsequent signals until the total number of trades reaches a maximum of 5. All open trades are closed when the trend shifts to a downtrend, as determined by the combination of the Alligator and Fractals described earlier.
Why we use AC signals? If currently strategy algorithm considers the high probability of the short-term uptrend with the Alligator and Fractals combination pointed out above and the long-term trend is also suggested by the EMA filter as bullish. Rising AC bars after period of falling AC bars indicates the high probability of local pull back end and there is a high chance to open long trade in the direction of the most likely main uptrend. The numbers of rising bars are different for the different AC values (below or above zero line). This is needed because if AC below zero line the local downtrend is likely to be stronger and needs more rising bars to confirm that it has been changed than if AC is above zero.
Why strategy use only 10% per signal? Sometimes we can see the false signals which appears on sideways. Not risking that much script use only 10% per signal. If the first long trade has been open and price continue going up and our trend approximation by Alligator and Fractals is uptrend, strategy add another one 10% of capital to every next AC signal while number of active trades no more than 5. This capital allocation allows to take part in long trades when current uptrend is likely to be strong and use only 10% of capital when there is a high probability of sideways.
Backtest Results
Operating window: Date range of backtests is 2023.01.01 - 2024.11.01. It is chosen to let the strategy to close all opened positions.
Commission and Slippage: Includes a standard Binance commission of 0.1% and accounts for possible slippage over 5 ticks.
Initial capital: 10000 USDT
Percent of capital used in every trade: 10%
Maximum Single Position Loss: -5.15%
Maximum Single Profit: +24.57%
Net Profit: +2108.85 USDT (+21.09%)
Total Trades: 111 (36.94% win rate)
Profit Factor: 2.391
Maximum Accumulated Loss: 367.61 USDT (-2.97%)
Average Profit per Trade: 19.00 USDT (+1.78%)
Average Trade Duration: 75 hours
How to Use
Add the script to favorites for easy access.
Apply to the desired timeframe and chart (optimal performance observed on 3h BTC/USDT).
Configure settings using the dropdown choice list in the built-in menu.
Set up alerts to automate strategy positions through web hook with the text: {{strategy.order.alert_message}}
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test strategies in a simulated environment before live implementation
These results are obtained with realistic parameters representing trading conditions observed at major exchanges such as Binance and with realistic trading portfolio usage parameters.
Multi-Timeframe Stochastic Alert [tradeviZion]# Multi-Timeframe Stochastic Alert : Complete User Guide
## 1. Introduction
### What is the Multi-Timeframe Stochastic Alert?
The Multi-Timeframe Stochastic Alert is an advanced technical analysis tool that helps traders identify potential trading opportunities by analyzing momentum across multiple timeframes. It combines the power of the stochastic oscillator with multi-timeframe analysis to provide more reliable trading signals.
### Key Features and Benefits
- Simultaneous analysis of 6 different timeframes
- Advanced alert system with customizable conditions
- Real-time visual feedback with color-coded signals
- Comprehensive data table with instant market insights
- Motivational trading messages for psychological support
- Flexible theme support for comfortable viewing
### How it Can Help Your Trading
- Identify stronger trends by confirming momentum across multiple timeframes
- Reduce false signals through multi-timeframe confirmation
- Stay informed of market changes with customizable alerts
- Make more informed decisions with comprehensive market data
- Maintain trading discipline with clear visual signals
## 2. Understanding the Display
### The Stochastic Chart
The main chart displays three key components:
1. ** K-Line (Fast) **: The primary stochastic line (default color: green)
2. ** D-Line (Slow) **: The signal line (default color: red)
3. ** Reference Lines **:
- Overbought Level (80): Upper dashed line
- Middle Line (50): Center dashed line
- Oversold Level (20): Lower dashed line
### The Information Table
The table provides a comprehensive view of stochastic readings across all timeframes. Here's what each column means:
#### Column Explanations:
1. ** Timeframe **
- Shows the time period for each row
- Example: "5" = 5 minutes, "15" = 15 minutes, etc.
2. ** K Value **
- The fast stochastic line value (0-100)
- Higher values indicate stronger upward momentum
- Lower values indicate stronger downward momentum
3. ** D Value **
- The slow stochastic line value (0-100)
- Helps confirm momentum direction
- Crossovers with K-line can signal potential trades
4. ** Status **
- Shows current momentum with symbols:
- ▲ = Increasing (bullish)
- ▼ = Decreasing (bearish)
- Color matches the trend direction
5. ** Trend **
- Shows the current market condition:
- "Overbought" (above 80)
- "Bullish" (above 50)
- "Bearish" (below 50)
- "Oversold" (below 20)
#### Row Explanations:
1. ** Title Row **
- Shows "🎯 Multi-Timeframe Stochastic"
- Indicates the indicator is active
2. ** Header Row **
- Contains column titles
- Dark blue background for easy reading
3. ** Timeframe Rows **
- Six rows showing different timeframe analyses
- Each row updates independently
- Color-coded for easy trend identification
4. **Message Row**
- Shows rotating motivational messages
- Updates every 5 bars
- Helps maintain trading discipline
### Visual Indicators and Colors
- ** Green Background **: Indicates bullish conditions
- ** Red Background **: Indicates bearish conditions
- ** Color Intensity **: Shows strength of the signal
- ** Background Highlights **: Appear when alert conditions are met
## 3. Core Settings Groups
### Stochastic Settings
These settings control the core calculation of the stochastic oscillator.
1. ** Length (Default: 14) **
- What it does: Determines the lookback period for calculations
- Higher values (e.g., 21): More stable, fewer signals
- Lower values (e.g., 8): More sensitive, more signals
- Recommended:
* Day Trading: 8-14
* Swing Trading: 14-21
* Position Trading: 21-30
2. ** Smooth K (Default: 3) **
- What it does: Smooths the main stochastic line
- Higher values: Smoother line, fewer false signals
- Lower values: More responsive, but more noise
- Recommended:
* Day Trading: 2-3
* Swing Trading: 3-5
* Position Trading: 5-7
3. ** Smooth D (Default: 3) **
- What it does: Smooths the signal line
- Works in conjunction with Smooth K
- Usually kept equal to or slightly higher than Smooth K
- Recommended: Keep same as Smooth K for consistency
4. ** Source (Default: Close) **
- What it does: Determines price data for calculations
- Options: Close, Open, High, Low, HL2, HLC3, OHLC4
- Recommended: Stick with Close for most reliable signals
### Timeframe Settings
Controls the multiple timeframes analyzed by the indicator.
1. ** Main Timeframes (TF1-TF6) **
- TF1 (Default: 10): Shortest timeframe for quick signals
- TF2 (Default: 15): Short-term trend confirmation
- TF3 (Default: 30): Medium-term trend analysis
- TF4 (Default: 30): Additional medium-term confirmation
- TF5 (Default: 60): Longer-term trend analysis
- TF6 (Default: 240): Major trend confirmation
Recommended Combinations:
* Scalping: 1, 3, 5, 15, 30, 60
* Day Trading: 5, 15, 30, 60, 240, D
* Swing Trading: 15, 60, 240, D, W, M
2. ** Wait for Bar Close (Default: true) **
- What it does: Controls when calculations update
- True: More reliable but slightly delayed signals
- False: Faster signals but may change before bar closes
- Recommended: Keep True for more reliable signals
### Alert Settings
#### Main Alert Settings
1. ** Enable Alerts (Default: true) **
- Master switch for all alert notifications
- Toggle this off when you don't want any alerts
- Useful during testing or when you want to focus on visual signals only
2. ** Alert Condition (Options) **
- "Above Middle": Bullish momentum alerts only
- "Below Middle": Bearish momentum alerts only
- "Both": Alerts for both directions
- Recommended:
* Trending Markets: Choose direction matching the trend
* Ranging Markets: Use "Both" to catch reversals
* New Traders: Start with "Both" until you develop a specific strategy
3. ** Alert Frequency **
- "Once Per Bar": Immediate alerts during the bar
- "Once Per Bar Close": Alerts only after bar closes
- Recommended:
* Day Trading: "Once Per Bar" for quick reactions
* Swing Trading: "Once Per Bar Close" for confirmed signals
* Beginners: "Once Per Bar Close" to reduce false signals
#### Timeframe Check Settings
1. ** First Check (TF1) **
- Purpose: Confirms basic trend direction
- Alert Triggers When:
* For Bullish: Stochastic is above middle line (50)
* For Bearish: Stochastic is below middle line (50)
* For Both: Triggers in either direction based on position relative to middle line
- Settings:
* Enable/Disable: Turn first check on/off
* Timeframe: Default 5 minutes
- Best Used For:
* Quick trend confirmation
* Entry timing
* Scalping setups
2. ** Second Check (TF2) **
- Purpose: Confirms both position and momentum
- Alert Triggers When:
* For Bullish: Stochastic is above middle line AND both K&D lines are increasing
* For Bearish: Stochastic is below middle line AND both K&D lines are decreasing
* For Both: Triggers based on position and direction matching current condition
- Settings:
* Enable/Disable: Turn second check on/off
* Timeframe: Default 15 minutes
- Best Used For:
* Trend strength confirmation
* Avoiding false breakouts
* Day trading setups
3. ** Third Check (TF3) **
- Purpose: Confirms overall momentum direction
- Alert Triggers When:
* For Bullish: Both K&D lines are increasing (momentum confirmation)
* For Bearish: Both K&D lines are decreasing (momentum confirmation)
* For Both: Triggers based on matching momentum direction
- Settings:
* Enable/Disable: Turn third check on/off
* Timeframe: Default 30 minutes
- Best Used For:
* Major trend confirmation
* Swing trading setups
* Avoiding trades against the main trend
Note: All three conditions must be met simultaneously for the alert to trigger. This multi-timeframe confirmation helps reduce false signals and provides stronger trade setups.
#### Alert Combinations Examples
1. ** Conservative Setup **
- Enable all three checks
- Use "Once Per Bar Close"
- Timeframe Selection Example:
* First Check: 15 minutes
* Second Check: 1 hour (60 minutes)
* Third Check: 4 hours (240 minutes)
- Wider gaps between timeframes reduce noise and false signals
- Best for: Swing trading, beginners
2. ** Aggressive Setup **
- Enable first two checks only
- Use "Once Per Bar"
- Timeframe Selection Example:
* First Check: 5 minutes
* Second Check: 15 minutes
- Closer timeframes for quicker signals
- Best for: Day trading, experienced traders
3. ** Balanced Setup **
- Enable all checks
- Use "Once Per Bar"
- Timeframe Selection Example:
* First Check: 5 minutes
* Second Check: 15 minutes
* Third Check: 1 hour (60 minutes)
- Balanced spacing between timeframes
- Best for: All-around trading
### Visual Settings
#### Alert Visual Settings
1. ** Show Background Color (Default: true) **
- What it does: Highlights chart background when alerts trigger
- Benefits:
* Makes signals more visible
* Helps spot opportunities quickly
* Provides visual confirmation of alerts
- When to disable:
* If using multiple indicators
* When preferring a cleaner chart
* During manual backtesting
2. ** Background Transparency (Default: 90) **
- Range: 0 (solid) to 100 (invisible)
- Recommended Settings:
* Clean Charts: 90-95
* Multiple Indicators: 85-90
* Single Indicator: 80-85
- Tip: Adjust based on your chart's overall visibility
3. ** Background Colors **
- Bullish Background:
* Default: Green
* Indicates upward momentum
* Customizable to match your theme
- Bearish Background:
* Default: Red
* Indicates downward momentum
* Customizable to match your theme
#### Level Settings
1. ** Oversold Level (Default: 20) **
- Traditional Setting: 20
- Adjustable Range: 0-100
- Usage:
* Lower values (e.g., 10): More conservative
* Higher values (e.g., 30): More aggressive
- Trading Applications:
* Potential bullish reversal zone
* Support level in uptrends
* Entry point for long positions
2. ** Overbought Level (Default: 80) **
- Traditional Setting: 80
- Adjustable Range: 0-100
- Usage:
* Lower values (e.g., 70): More aggressive
* Higher values (e.g., 90): More conservative
- Trading Applications:
* Potential bearish reversal zone
* Resistance level in downtrends
* Exit point for long positions
3. ** Middle Line (Default: 50) **
- Purpose: Trend direction separator
- Applications:
* Above 50: Bullish territory
* Below 50: Bearish territory
* Crossing 50: Potential trend change
- Trading Uses:
* Trend confirmation
* Entry/exit trigger
* Risk management level
#### Color Settings
1. ** Bullish Color (Default: Green) **
- Used for:
* K-Line (Main stochastic line)
* Status symbols when trending up
* Trend labels for bullish conditions
- Customization:
* Choose colors that stand out
* Match your trading platform theme
* Consider color blindness accessibility
2. ** Bearish Color (Default: Red) **
- Used for:
* D-Line (Signal line)
* Status symbols when trending down
* Trend labels for bearish conditions
- Customization:
* Choose contrasting colors
* Ensure visibility on your chart
* Consider monitor settings
3. ** Neutral Color (Default: Gray) **
- Used for:
* Middle line (50 level)
- Customization:
* Should be less prominent
* Easy on the eyes
* Good background contrast
### Theme Settings
1. **Color Theme Options**
- Dark Theme (Default):
* Dark background with white text
* Optimized for dark chart backgrounds
* Reduces eye strain in low light
- Light Theme:
* Light background with black text
* Better visibility in bright conditions
- Custom Theme:
* Use your own color preferences
2. ** Available Theme Colors **
- Table Background
- Table Text
- Table Headers
Note: The theme affects only the table display colors. The stochastic lines and alert backgrounds use their own color settings.
### Table Settings
#### Position and Size
1. ** Table Position **
- Options:
* Top Right (Default)
* Middle Right
* Bottom Right
* Top Left
* Middle Left
* Bottom Left
- Considerations:
* Chart space utilization
* Personal preference
* Multiple monitor setups
2. ** Text Sizes **
- Title Size Options:
* Tiny: Minimal space usage
* Small: Compact but readable
* Normal (Default): Standard visibility
* Large: Enhanced readability
* Huge: Maximum visibility
- Data Size Options:
* Recommended: One size smaller than title
* Adjust based on screen resolution
* Consider viewing distance
3. ** Empowering Messages **
- Purpose:
* Maintain trading discipline
* Provide psychological support
* Remind of best practices
- Rotation:
* Changes every 5 bars
* Categories include:
- Market Wisdom
- Strategy & Discipline
- Mindset & Growth
- Technical Mastery
- Market Philosophy
## 4. Setting Up for Different Trading Styles
### Day Trading Setup
1. **Timeframes**
- Primary: 5, 15, 30 minutes
- Secondary: 1H, 4H
- Alert Settings: "Once Per Bar"
2. ** Stochastic Settings **
- Length: 8-14
- Smooth K/D: 2-3
- Alert Condition: Match market trend
3. ** Visual Settings **
- Background: Enabled
- Transparency: 85-90
- Theme: Based on trading hours
### Swing Trading Setup
1. ** Timeframes **
- Primary: 1H, 4H, Daily
- Secondary: Weekly
- Alert Settings: "Once Per Bar Close"
2. ** Stochastic Settings **
- Length: 14-21
- Smooth K/D: 3-5
- Alert Condition: "Both"
3. ** Visual Settings **
- Background: Optional
- Transparency: 90-95
- Theme: Personal preference
### Position Trading Setup
1. ** Timeframes **
- Primary: Daily, Weekly
- Secondary: Monthly
- Alert Settings: "Once Per Bar Close"
2. ** Stochastic Settings **
- Length: 21-30
- Smooth K/D: 5-7
- Alert Condition: "Both"
3. ** Visual Settings **
- Background: Disabled
- Focus on table data
- Theme: High contrast
## 5. Troubleshooting Guide
### Common Issues and Solutions
1. ** Too Many Alerts **
- Cause: Settings too sensitive
- Solutions:
* Increase timeframe intervals
* Use "Once Per Bar Close"
* Enable fewer timeframe checks
* Adjust stochastic length higher
2. ** Missed Signals **
- Cause: Settings too conservative
- Solutions:
* Decrease timeframe intervals
* Use "Once Per Bar"
* Enable more timeframe checks
* Adjust stochastic length lower
3. ** False Signals **
- Cause: Insufficient confirmation
- Solutions:
* Enable all three timeframe checks
* Use larger timeframe gaps
* Wait for bar close
* Confirm with price action
4. ** Visual Clarity Issues **
- Cause: Poor contrast or overlap
- Solutions:
* Adjust transparency
* Change theme settings
* Reposition table
* Modify color scheme
### Best Practices
1. ** Getting Started **
- Start with default settings
- Use "Both" alert condition
- Enable all timeframe checks
- Wait for bar close
- Monitor for a few days
2. ** Fine-Tuning **
- Adjust one setting at a time
- Document changes and results
- Test in different market conditions
- Find your optimal timeframe combination
- Balance sensitivity with reliability
3. ** Risk Management **
- Don't trade against major trends
- Confirm signals with price action
- Use appropriate position sizing
- Set clear stop losses
- Follow your trading plan
4. ** Regular Maintenance **
- Review settings weekly
- Adjust for market conditions
- Update color scheme for visibility
- Clean up chart regularly
- Maintain trading journal
## 6. Tips for Success
1. ** Entry Strategies **
- Wait for all timeframes to align
- Confirm with price action
- Use proper position sizing
- Consider market conditions
2. ** Exit Strategies **
- Trail stops using indicator levels
- Take partial profits at targets
- Honor your stop losses
- Don't fight the trend
3. ** Psychology **
- Stay disciplined with settings
- Don't override system signals
- Keep emotions in check
- Learn from each trade
4. ** Continuous Improvement **
- Record your trades
- Review performance regularly
- Adjust settings gradually
- Stay educated on markets
MultiLayer Awesome Oscillator Saucer Strategy [Skyrexio]Overview
MultiLayer Awesome Oscillator Saucer Strategy leverages the combination of Awesome Oscillator (AO), Williams Alligator, Williams Fractals and Exponential Moving Average (EMA) to obtain the high probability long setups. Moreover, strategy uses multi trades system, adding funds to long position if it considered that current trend has likely became stronger. Awesome Oscillator is used for creating signals, while Alligator and Fractal are used in conjunction as an approximation of short-term trend to filter them. At the same time EMA (default EMA's period = 100) is used as high probability long-term trend filter to open long trades only if it considers current price action as an uptrend. More information in "Methodology" and "Justification of Methodology" paragraphs. The strategy opens only long trades.
Unique Features
No fixed stop-loss and take profit: Instead of fixed stop-loss level strategy utilizes technical condition obtained by Fractals and Alligator to identify when current uptrend is likely to be over (more information in "Methodology" and "Justification of Methodology" paragraphs)
Configurable Trading Periods: Users can tailor the strategy to specific market windows, adapting to different market conditions.
Multilayer trades opening system: strategy uses only 10% of capital in every trade and open up to 5 trades at the same time if script consider current trend as strong one.
Short and long term trend trade filters: strategy uses EMA as high probability long-term trend filter and Alligator and Fractal combination as a short-term one.
Methodology
The strategy opens long trade when the following price met the conditions:
1. Price closed above EMA (by default, period = 100). Crossover is not obligatory.
2. Combination of Alligator and Williams Fractals shall consider current trend as an upward (all details in "Justification of Methodology" paragraph)
3. Awesome Oscillator shall create the "Saucer" long signal (all details in "Justification of Methodology" paragraph). Buy stop order is placed one tick above the candle's high of last created "Saucer signal".
4. If price reaches the order price, long position is opened with 10% of capital.
5. If currently we have opened position and price creates and hit the order price of another one "Saucer" signal another one long position will be added to the previous with another one 10% of capital. Strategy allows to open up to 5 long trades simultaneously.
6. If combination of Alligator and Williams Fractals shall consider current trend has been changed from up to downtrend, all long trades will be closed, no matter how many trades has been opened.
Script also has additional visuals. If second long trade has been opened simultaneously the Alligator's teeth line is plotted with the green color. Also for every trade in a row from 2 to 5 the label "Buy More" is also plotted just below the teeth line. With every next simultaneously opened trade the green color of the space between teeth and price became less transparent.
Strategy settings
In the inputs window user can setup strategy setting: EMA Length (by default = 100, period of EMA, used for long-term trend filtering EMA calculation). User can choose the optimal parameters during backtesting on certain price chart.
Justification of Methodology
Let's go through all concepts used in this strategy to understand how they works together. Let's start from the easies one, the EMA. Let's briefly explain what is EMA. The Exponential Moving Average (EMA) is a type of moving average that gives more weight to recent prices, making it more responsive to current price changes compared to the Simple Moving Average (SMA). It is commonly used in technical analysis to identify trends and generate buy or sell signals. It can be calculated with the following steps:
1.Calculate the Smoothing Multiplier:
Multiplier = 2 / (n + 1), Where n is the number of periods.
2. EMA Calculation
EMA = (Current Price) × Multiplier + (Previous EMA) × (1 − Multiplier)
In this strategy uses EMA an initial long term trend filter. It allows to open long trades only if price close above EMA (by default 50 period). It increases the probability of taking long trades only in the direction of the trend.
Let's go to the next, short-term trend filter which consists of Alligator and Fractals. Let's briefly explain what do these indicators means. The Williams Alligator, developed by Bill Williams, is a technical indicator designed to spot trends and potential market reversals. It uses three smoothed moving averages, referred to as the jaw, teeth, and lips:
Jaw (Blue Line): The slowest of the three, based on a 13-period smoothed moving average shifted 8 bars ahead.
Teeth (Red Line): The medium-speed line, derived from an 8-period smoothed moving average shifted 5 bars forward.
Lips (Green Line): The fastest line, calculated using a 5-period smoothed moving average shifted 3 bars forward.
When these lines diverge and are properly aligned, the "alligator" is considered "awake," signaling a strong trend. Conversely, when the lines overlap or intertwine, the "alligator" is "asleep," indicating a range-bound or sideways market. This indicator assists traders in identifying when to act on or avoid trades.
The Williams Fractals, another tool introduced by Bill Williams, are used to pinpoint potential reversal points on a price chart. A fractal forms when there are at least five consecutive bars, with the middle bar displaying the highest high (for an up fractal) or the lowest low (for a down fractal), relative to the two bars on either side.
Key Points:
Up Fractal: Occurs when the middle bar has a higher high than the two preceding and two following bars, suggesting a potential downward reversal.
Down Fractal: Happens when the middle bar shows a lower low than the surrounding two bars, hinting at a possible upward reversal.
Traders often combine fractals with other indicators to confirm trends or reversals, improving the accuracy of trading decisions.
How we use their combination in this strategy? Let’s consider an uptrend example. A breakout above an up fractal can be interpreted as a bullish signal, indicating a high likelihood that an uptrend is beginning. Here's the reasoning: an up fractal represents a potential shift in market behavior. When the fractal forms, it reflects a pullback caused by traders selling, creating a temporary high. However, if the price manages to return to that fractal’s high and break through it, it suggests the market has "changed its mind" and a bullish trend is likely emerging.
The moment of the breakout marks the potential transition to an uptrend. It’s crucial to note that this breakout must occur above the Alligator's teeth line. If it happens below, the breakout isn’t valid, and the downtrend may still persist. The same logic applies inversely for down fractals in a downtrend scenario.
So, if last up fractal breakout was higher, than Alligator's teeth and it happened after last down fractal breakdown below teeth, algorithm considered current trend as an uptrend. During this uptrend long trades can be opened if signal was flashed. If during the uptrend price breaks down the down fractal below teeth line, strategy considered that uptrend is finished with the high probability and strategy closes all current long trades. This combination is used as a short term trend filter increasing the probability of opening profitable long trades in addition to EMA filter, described above.
Now let's talk about Awesome Oscillator's "Sauser" signals. Briefly explain what is the Awesome Oscillator. The Awesome Oscillator (AO), created by Bill Williams, is a momentum-based indicator that evaluates market momentum by comparing recent price activity to a broader historical context. It assists traders in identifying potential trend reversals and gauging trend strength.
AO = SMA5(Median Price) − SMA34(Median Price)
where:
Median Price = (High + Low) / 2
SMA5 = 5-period Simple Moving Average of the Median Price
SMA 34 = 34-period Simple Moving Average of the Median Price
Now we know what is AO, but what is the "Saucer" signal? This concept was introduced by Bill Williams, let's briefly explain it and how it's used by this strategy. Initially, this type of signal is a combination of the following AO bars: we need 3 bars in a row, the first one shall be higher than the second, the third bar also shall be higher, than second. All three bars shall be above the zero line of AO. The price bar, which corresponds to third "saucer's" bar is our signal bar. Strategy places buy stop order one tick above the price bar which corresponds to signal bar.
After that we can have the following scenarios.
Price hit the order on the next candle in this case strategy opened long with this price.
Price doesn't hit the order price, the next candle set lower low. If current AO bar is increasing buy stop order changes by the script to the high of this new bar plus one tick. This procedure repeats until price finally hit buy order or current AO bar become decreasing. In the second case buy order cancelled and strategy wait for the next "Saucer" signal.
If long trades has been opened strategy use all the next signals until number of trades doesn't exceed 5. All trades are closed when the trend changes to downtrend according to combination of Alligator and Fractals described above.
Why we use "Saucer" signals? If AO above the zero line there is a high probability that price now is in uptrend if we take into account our two trend filters. When we see the decreasing bars on AO and it's above zero it's likely can be considered as a pullback on the uptrend. When we see the stop of AO decreasing and the first increasing bar has been printed there is a high probability that this local pull back is finished and strategy open long trade in the likely direction of a main trend.
Why strategy use only 10% per signal? Sometimes we can see the false signals which appears on sideways. Not risking that much script use only 10% per signal. If the first long trade has been open and price continue going up and our trend approximation by Alligator and Fractals is uptrend, strategy add another one 10% of capital to every next saucer signal while number of active trades no more than 5. This capital allocation allows to take part in long trades when current uptrend is likely to be strong and use only 10% of capital when there is a high probability of sideways.
Backtest Results
Operating window: Date range of backtests is 2023.01.01 - 2024.11.25. It is chosen to let the strategy to close all opened positions.
Commission and Slippage: Includes a standard Binance commission of 0.1% and accounts for possible slippage over 5 ticks.
Initial capital: 10000 USDT
Percent of capital used in every trade: 10%
Maximum Single Position Loss: -5.10%
Maximum Single Profit: +22.80%
Net Profit: +2838.58 USDT (+28.39%)
Total Trades: 107 (42.99% win rate)
Profit Factor: 3.364
Maximum Accumulated Loss: 373.43 USDT (-2.98%)
Average Profit per Trade: 26.53 USDT (+2.40%)
Average Trade Duration: 78 hours
These results are obtained with realistic parameters representing trading conditions observed at major exchanges such as Binance and with realistic trading portfolio usage parameters.
How to Use
Add the script to favorites for easy access.
Apply to the desired timeframe and chart (optimal performance observed on 3h BTC/USDT).
Configure settings using the dropdown choice list in the built-in menu.
Set up alerts to automate strategy positions through web hook with the text: {{strategy.order.alert_message}}
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test strategies in a simulated environment before live implementation
RawCuts_01Library "RawCuts_01"
A collection of functions by:
mutantdog
The majority of these are used within published projects, some useful variants have been included here aswell.
This is volume one consisting mainly of smaller functions, predominantly the filters and standard deviations from Weight Gain 4000.
Also included at the bottom are various snippets of related code for demonstration. These can be copied and adjusted according to your needs.
A full up-to-date table of contents is located at the top of the main script.
WEIGHT GAIN FILTERS
A collection of moving average type filters with adjustable volume weighting.
Based upon the two most common methods of volume weighting.
'Simple' uses the standard method in which a basic VWMA is analogous to SMA.
'Elastic' uses exponential method found in EVWMA which is analogous to RMA.
Volume weighting is applied according to an exponent multiplier of input volume.
0 >> volume^0 (unweighted), 1 >> volume^1 (fully weighted), use float values for intermediate weighting.
Additional volume filter switch for smoothing of outlier events.
DIVA MODULAR DEVIATIONS
A small collection of standard and absolute deviations.
Includes the weightgain functionality as above.
Basic modular functionality for more creative uses.
Optional input (ct) for external central tendency (aka: estimator).
Can be assigned to alternative filter or any float value. Will default to internal filter when no ct input is received.
Some other useful or related functions included at the bottom along with basic demonstration use.
weightgain_sma(src, len, xVol, fVol)
Simple Moving Average (SMA): Weight Gain (Simple Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Standard Simple Moving Average with Simple Weight Gain applied.
weightgain_hsma(src, len, xVol, fVol)
Harmonic Simple Moving Average (hSMA): Weight Gain (Simple Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Harmonic Simple Moving Average with Simple Weight Gain applied.
weightgain_gsma(src, len, xVol, fVol)
Geometric Simple Moving Average (gSMA): Weight Gain (Simple Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Geometric Simple Moving Average with Simple Weight Gain applied.
weightgain_wma(src, len, xVol, fVol)
Linear Weighted Moving Average (WMA): Weight Gain (Simple Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Basic Linear Weighted Moving Average with Simple Weight Gain applied.
weightgain_hma(src, len, xVol, fVol)
Hull Moving Average (HMA): Weight Gain (Simple Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Basic Hull Moving Average with Simple Weight Gain applied.
diva_sd_sma(src, len, xVol, fVol, ct)
Standard Deviation (SD SMA): Diva / Weight Gain (Simple Volume)
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_sma().
Returns:
diva_sd_wma(src, len, xVol, fVol, ct)
Standard Deviation (SD WMA): Diva / Weight Gain (Simple Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_wma().
Returns:
diva_aad_sma(src, len, xVol, fVol, ct)
Average Absolute Deviation (AAD SMA): Diva / Weight Gain (Simple Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_sma().
Returns:
diva_aad_wma(src, len, xVol, fVol, ct)
Average Absolute Deviation (AAD WMA): Diva / Weight Gain (Simple Volume) .
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_wma().
Returns:
weightgain_ema(src, len, xVol, fVol)
Exponential Moving Average (EMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Exponential Moving Average with Elastic Weight Gain applied.
weightgain_dema(src, len, xVol, fVol)
Double Exponential Moving Average (DEMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Double Exponential Moving Average with Elastic Weight Gain applied.
weightgain_tema(src, len, xVol, fVol)
Triple Exponential Moving Average (TEMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Triple Exponential Moving Average with Elastic Weight Gain applied.
weightgain_rma(src, len, xVol, fVol)
Rolling Moving Average (RMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Rolling Moving Average with Elastic Weight Gain applied.
weightgain_drma(src, len, xVol, fVol)
Double Rolling Moving Average (DRMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Double Rolling Moving Average with Elastic Weight Gain applied.
weightgain_trma(src, len, xVol, fVol)
Triple Rolling Moving Average (TRMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: Triple Rolling Moving Average with Elastic Weight Gain applied.
diva_sd_ema(src, len, xVol, fVol, ct)
Standard Deviation (SD EMA): Diva / Weight Gain: (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_ema().
Returns:
diva_sd_rma(src, len, xVol, fVol, ct)
Standard Deviation (SD RMA): Diva / Weight Gain: (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_rma().
Returns:
weightgain_vidya_rma(src, len, xVol, fVol)
VIDYA v1 RMA base (VIDYA-RMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: VIDYA v1, RMA base with Elastic Weight Gain applied.
weightgain_vidya_ema(src, len, xVol, fVol)
VIDYA v1 EMA base (VIDYA-EMA): Weight Gain (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
Returns: VIDYA v1, EMA base with Elastic Weight Gain applied.
diva_sd_vidya_rma(src, len, xVol, fVol, ct)
Standard Deviation (SD VIDYA-RMA): Diva / Weight Gain: (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_vidya_rma().
Returns:
diva_sd_vidya_ema(src, len, xVol, fVol, ct)
Standard Deviation (SD VIDYA-EMA): Diva / Weight Gain: (Elastic Volume).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
xVol (float) : Volume exponent multiplier (0 = unweighted, 1 = fully weighted).
fVol (bool) : Volume smoothing filter.
ct (float) : Central tendency (optional, na = bypass). Internal: weightgain_vidya_ema().
Returns:
weightgain_sema(src, len, xVol, fVol)
Parameters:
src (float)
len (simple int)
xVol (float)
fVol (bool)
diva_sd_sema(src, len, xVol, fVol)
Parameters:
src (float)
len (simple int)
xVol (float)
fVol (bool)
diva_mad_mm(src, len, ct)
Median Absolute Deviation (MAD MM): Diva (no volume weighting).
Parameters:
src (float) : Source input.
len (int) : Length (number of bars).
ct (float) : Central tendency (optional, na = bypass). Internal: ta.median()
Returns:
source_switch(slct, aux1, aux2, aux3, aux4)
Custom Source Selector/Switch function. Features standard & custom 'weighted' sources with additional aux inputs.
Parameters:
slct (string) : Choose from custom set of string values.
aux1 (float) : Additional input for user-defined source, eg: standard input.source(). Optional, use na to bypass.
aux2 (float) : Additional input for user-defined source, eg: standard input.source(). Optional, use na to bypass.
aux3 (float) : Additional input for user-defined source, eg: standard input.source(). Optional, use na to bypass.
aux4 (float) : Additional input for user-defined source, eg: standard input.source(). Optional, use na to bypass.
Returns: Float value, to be used as src input for other functions.
colour_gradient_ma_div(ma1, ma2, div, bull, bear, mid, mult)
Colour Gradient for plot fill between two moving averages etc, with seperate bull/bear and divergence strength.
Parameters:
ma1 (float) : Input for fast moving average (eg: bullish when above ma2).
ma2 (float) : Input for slow moving average (eg: bullish when below ma1).
div (float) : Input deviation/divergence value used to calculate strength of colour.
bull (color) : Colour when ma1 above ma2.
bear (color) : Colour when ma1 below ma2.
mid (color) : Neutral colour when ma1 = ma2.
mult (int) : Opacity multiplier. 100 = maximum, 0 = transparent.
Returns: Colour with transparency (according to specified inputs)
Higher Time Frame Strat [QuantVue]The Higher Time Frame Strat Indicator is a tool that helps traders visualize and analyze price action from a higher timeframe (HTF) on their current chart. It applies the Strat method, a trading strategy focused on identifying key price action setups by observing how current price bars relate to previous ones. This helps in understanding the market's structure and determining potential trading opportunities based on higher timeframe data.
Key Concepts:
Strat Basics:
Type 1 Bar (Inside Bar): The current bar's high is lower than the previous bar's high, and its low is higher than the previous bar's low. This signifies a consolidation, or indecision, as the price is contained within the previous bar's range.
Type 2 Bar (Directional Bar): The current bar either breaks above the previous bar's high (bullish) or stays above the previous bar's low (bearish), indicating a continuation in the price direction.
Type 3 Bar (Outside Bar): The current bar breaks both above the previous bar's high and below the previous bar's low, showing volatility and a potential reversal.
Higher Timeframe Visualization:
The indicator uses a user-defined higher timeframe (default: 1 hour) and plots the last three higher timeframe candles on the current chart.
Strat Classification:
When a new higher timeframe candle forms, the indicator draws a semi-transparent box around the candle's range (high to low), along with the Strat type label. This provides a visual cue to the trader about the structure of the newly formed candle and how it fits into the overall market movement.
The script classifies each higher timeframe candle as one of the Strat types (1, 2, or 3). Based on the relationship between the current candle and the previous candle's high/low, it assigns a label ("1", "2", or "3"), helping traders quickly identify the price action setup on the higher timeframe.
How to Use the Indicator:
Trend Continuation: Look for Type 2 bars, which indicate a continuation in the current trend. For example, a Type 2 up suggests the price is breaking above the previous high, potentially signaling further upward movement.
Reversals: Type 3 bars show increased volatility, where the price breaks both above and below the previous bar's range. This could indicate a reversal, so be prepared for a potential change in direction.
Consolidation: Inside bars (Type 1) signify a tightening range and can signal the beginning of a breakout once the price moves outside of the previous bar's high or low.
By combining these price action concepts with the visualization of higher timeframe data, traders can potentially get earlier entry and exits as a higher timeframe set up forms.
CandleStick [TradingFinder] - All Reversal & Trend Patterns🔵 Introduction
"Candlesticks" patterns are used to predict price movements. We have included 5 of the best candlestick patterns that are common and very useful in "technical analysis" in this script to identify them automatically. The most important advantage of this indicator for users is saving time and high precision in identifying patterns.
These patterns are "Pin Bar," "Dark Cloud," "Piercing Line," "3 Inside Bar," and "Engulfing." By using these patterns, you can predict price movements more accurately and therefore make better decisions in your trades.
🔵 How to Use
Pin Bar : This pattern consists of a Candle where "Open Price," "Close Price," "High Price," and "Low Price" form the "Candle Body," and it also has "Long Shadow" and "Short Shadow." In the visual appearance of the Pin Bar pattern, we have a candle body and a pin bar shadow, where the candle body is smaller relative to the shadow.
Just as the candle body plays an important role in analysis, the pin bar shadow can also be influential. The larger the pin bar shadow, the stronger the expectation of a trend reversal.
When a "bearish pin bar" occurs at resistance or the chart ceiling, it can be predicted that the price trend will be downward. Similarly, at support points and the chart floor, a "bullish pin bar" can indicate an upward price movement.
Additionally, patterns like "Hammer," "Shooting Star," "Hanging Man," and "Inverted Hammer" are types of pin bars. Pin bars are formed in two ways: bullish pin bars have a long lower shadow, and bearish pin bars have a long upper shadow. Important: Displaying "Bullish Pin Bar" is labeled "BuPB," and "Bearish Pin Bar" is labeled "BePB."
Dark Cloud : The Dark Cloud pattern is one type of two-candle patterns that occurs at the end of an uptrend. The 2-candle pattern indicates the shape of this pattern, which actually consists of 2 candles, one bullish and one bearish. This pattern indicates a trend reversal and is quite powerful.
The Dark Cloud pattern is seen when, after a bullish candle at the end of an uptrend, a bearish candle opens at a higher level (weakly, equal, or higher) than the closing point of the bullish candle and finally closes at a point approximately in the middle of the previous candle. In this indicator, the Dark Cloud pattern is identified as "Wick" and "Strong" .
The difference between these two lies in the strictness of their conditions. Important: Strong Dark Cloud is labeled "SDC," and Weak Dark Cloud is labeled "WDC."
Piercing Line : The Piercing candlestick pattern consists of 2 candles, the first being bearish and consistent with the previous trend, and the second being bullish. The conditions of the pattern are such that the first candle is bearish and a price gap is created between the two candles upon the opening of the next candle because its opening price is below (weakly equal to or less than) the closing price of the previous candle.
Additionally, its closing price must be at least 50% above the red candle.
This means that the second candle must penetrate at least 50% into the first candle. Important: Strong Piercing Line is labeled "SPL," and Weak Piercing Line is labeled "WPL."
3 Inside Bar (3 Bar Reversal) : The 3 Inside Bar pattern is a reversal pattern. This pattern consists of 3 consecutive candles and can be either bullish or bearish. In the bullish pattern (Inside Up) formed at the end of a downtrend, the last candle must be bullish, and the third candle from the end must be bearish.
Additionally, the close price must be more than 50% of the third candle from the end. In the bearish pattern (Inside Down) formed at the end of an uptrend, the last candle must be bearish, and the third candle from the end must be bullish. Additionally, the close price must be less than 50% of the third candle from the end. Important: Bullish 3 Inside Bar is labeled "Bu3IB," and Bearish 3 Inside Bar is labeled "Be3IB."
Engulfing : The Engulfing candlestick pattern is a reversal pattern and consists of at least two candles, where one of them completely engulfs the body of the previous or following candle due to high volatility.
For this reason, the term "engulfing" is used for this pattern. This pattern occurs when the price body of a candle encompasses one or more candles before it. Engulfing candles can be bullish or bearish. Bullish Engulfing forms as a reversal candle at the end of a downtrend.
Bullish Engulfing indicates strong buying power and signals the beginning of an uptrend. This pattern is a bullish candle with a long upward body that completely covers the downward body before it. Bearish Engulfing, as a reversal pattern, is a long bearish candle that engulfs the upward candle before it.
Bearish Engulfing forms at the end of an uptrend and indicates the pressure of new sellers and their strong power. Additionally, forming this pattern at resistance levels and the absence of a lower shadow increases its credibility. Important: Bullish Engulfing is labeled "BuE," and Bearish Engulfing is labeled "BeE."
🔵 Settings
This section, you can use the buttons "Show Pin Bar," "Show Dark Cloud," "Show Piercing Line," "Show 3 Inside Bar," and "Show Engulfing" to enable or disable the display of each of these candlestick patterns.
Orion:SagittaSagitta
Sagitta is an indicator the works to assist in the validation of potential long entries and to place stop-loss orders. Sagitta is not a "golden indicator" but more of a confirmation indicator of what prices might be suggesting.
The concept is that while stocks can turn in one bar, it usually takes two bars or more to signal a turn. So, using a measurement of two bars help determine the potential turning of prices.
Behind the scenes, Sagitta is nothing more than a 2 period stochastic which has had its values divided into five specific zones.
Dividing the range of the two bars in five sections, the High is equal to 100 and the Low is equal to 0.
The zones are:
20 = bearish (red) – This is when the close is the lower 20% of the two bars
40 = bearish (orange) – This is when the close is between the lower 20% and 40% of the two bars.
60 = neutral (yellow) – This is when the close is between the middle 40% - 60% of the two bars.
80 = bullish (blue) – This is when the close is between the upper 60% - 80% of the two bars.
100 = bullish (green) – This is when the close is above the upper 80% of the bar.
The general confirmation concept works as such:
When the following bar is of a higher value than the previous bar, there is potential for further upward price movement. Conversely when the following bar is lower than the previous bar, there is potential for further downward movement.
Going from a red bar to orange bar Might be an indication of a positive turn in direction of prices.
Going from a green bar to an orange bar would also be considered a negative directional turn of prices.
When the follow on bar decreases (ie, green to blue, blue to yellow, etc) placing a stop-loss would be prudent.
Maroon lines in the middle of a bar is an indication that prices are currently caught in consolidation.
Silver/Gray bars indicate that a high potential exists for a strong upward turn in prices exists.
Consolidation is calculated by determining if the close of one bar is between the high and low of another bar. This then establishes the range high and low. As long as closes continue with this range, the high and low of the range can expand. When the close is outside of the range, the consolidation is reset.
Signals in areas of consolidation (maroon center bar) should be looked upon as if the prices are going to challenge the high of the consolidation range and not necessarily break through.
The entry technique used is:
The greater of the following two calculations:
High of signal bar * 1.002 or High of signal bar + .03
The stop-loss technique used is:
The lesser of the following two calculations:
Low of signal bar * .998 or Low of signal bar - .03
IF an entry signal is generated and the price doesn’t reach the entry calculation. It is considered a failed entry and is not considered a negative or that you missed out on something. This has saved you from losing money since the prices are not ready to commit to the direction.
When placing a stop-loss, it is never suggested that you lower the value of a stop-loss. Always move your stop-losses higher in order to lock in profit in case of a negative turn.
Strat Dashboard [TFO]The Strat Dashboard tracks up to 10 signals while highlighting common strat reversal patterns, the SSS 50% rule, timeframe continuity, and some additional criteria with VWAP and moving averages.
With the strat, all price action bars/candles are simplified into 3 total possibilities: 1 (inside bar), 2 (a bar that takes the previous bar's high OR low), and 3 (outside bar). The first table column for Last X Candles shows the most recent candles according to this notation, for example, 1 - 2D - 2U. This would mean we had an inside bar, followed by a bar that took the previous bar's low, followed then by a bar that took the previous bar's high. Note that the colors in this column are set according to whether the current bar's close exceeds the previous bar's high/low. By default, these colors are green if above the previous bar's highs, or red if below the previous bar's lows. If the current close is in between the previous candle's high and low (even after already taking the prior high or low), no color will be applied.
The SSS 50% column shows a yes or no value for whether the current bar aligns with the SSS 50% rule, where a bar has taken either the previous high or low, and has since reversed to at least the midway point of the previous bar's height - essentially anticipating a 2 that may become a 3 (outside bar).
Timeframe continuity (TFC) shows a yes or no value for when the current candle on multiple timeframes are all green or red (above the open price or below the open price, respectively). For example, if you were looking at the current 15m, 1h, and 1D bars, and they were all above the open price, you could say there's TFC between all three timeframes. As of the initial release, you can select up to 3 different timeframes. The table values will only be true when all selected timeframes are in alignment. When setting alerts, first deselect the timeframes if you don't want TFC logic to impact alerts.
The "Last" column shows the last strat reversal pattern that was confirmed (after the last bar closes). Waiting for a candle close is the safer option since a 2 can turn into a 3; however for higher timeframes, it may be beneficial to make an update to this indicator in which you can have live alerts as well (not waiting for a candle close). You can select which strat reversals you want to be shown from the settings. Various strat reversals may be selected for alerts of type "Any"; for example, if setting up an alert for "Any" strat reversal on Symbol 1, then this alert will go off when any of the *selected* strat reversals occur for that specific symbol. Deselect any strat reversals that you don't want to be included in these alerts.
Lastly, the EMA and VWAP columns simply show whether price is above or below said value. This tracks the current candle close, and may repaint/change several times if the current bar is oscillating above and below these values.
Swing Levels and Liquidity - By LeviathanThis script will plot pivot points (swing highs and lows) in the form of lines, boxes or labels to help you identify market structure, “liquidity” areas, swing failure patterns, etc. You are also able to see the volume traded at each pivot point, which will help you compare their significance.
Bars Left-Right
A pivot high (swing high) is a bar in a series of bars that has a higher value than the bars around it and a pivot low (swing low) is a bar in a series of bars that has a lower value than the bars surrounding it. The Bars Left and Bars Right parameters are used to define the number of bars on the left and right sides of a pivot point that the function should consider when identifying pivot highs and lows in a time series. For example, if Bars Left is set to 5 and Bars Right is set to 6, the function will look for a pivot point by comparing the value of the current bar with the values of the 5 bars to its left and the 6 bars to its right. If the value of the current bar is higher than all of these bars, it is considered a pivot high point. These parameter can be used to adjust the sensitivity of the script (lowering the Bars Left and Bars Right parameters will give you more swing points and increasing the Bars Left and Bars Right parameters will give you fewer swing points).
”Show Boxes” - This will draw a box above the swing high and a box below the swing low to help you visualise a large area of interest around swing points. Additional box types and the width of the box can be adjusted in Appearance settings below.
”Show Lines” - This will draw a horizontal line at the level of each swing high and swing low.
”Show Labels” - This will plot a circle at the high point of each swing high and at the low point of each swing low.
”Show Volume” - This will display the amount of volume traded in a given swing point candle. It can help you identify the significance of a given swing point by comparing it to the volumes of other swing points.
”Extend Until Filled” - This will extend the swing point levels until they are mitigated by the price. Turning it off will continue plotting the levels just a few more bars after a swing point occurs.
”Appearance” - You can show/hide swing points, choose the colors of labels, lines and boxes, choose the size and positioning of the text, choose line and box appearance (adjust the Box Width when switching between timeframes!) and more.
More updates coming soon (MTF, more data…)
