Special Engulfing BarsExplanation of the Code:
Bullish Engulfing:
low <= low : The low of the current candle is lower than or equal to the low of the previous candle.
close >= close : The close of the current candle is higher than or equal to the close of the previous candle.
close > open: The current candle is bullish.
open > close : The previous candle is bearish.
Bearish Engulfing:
high >= high : The high of the current candle is higher than or equal to the high of the previous candle.
close <= close : The close of the current candle is lower than or equal to the close of the previous candle.
close < open: The current candle is bearish.
open < close : The previous candle is bullish.
Plot shape : Displays a signal on the chart when a bullish engulfing pattern (green color) or a bearish engulfing pattern (red color) is detected.
Alert condition : Sets an alert to send a notification when a bullish or bearish engulfing pattern is detected.
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Outside Bar ProbabilityOutside Bar Percentage by Hour Indicator
Description:
The "Outside Bar Percentage by Hour" indicator is a powerful tool designed to analyze the occurrence of outside bars within each hour of the trading day. This indicator not only tracks the frequency of these key market events but also provides a detailed breakdown of their distribution, allowing traders to identify potential patterns and key trading hours.
What It Does:
Outside Bar Detection: The indicator identifies "outside bars," which occur when the high of a bar is higher than the previous bar's high, and the low is lower than the previous bar's low. These bars often signal significant market moves and potential reversals.
Hourly Analysis: The script tracks the total number of bars and outside bars for each hour (0 to 23) of the trading day. This granular analysis helps traders pinpoint specific hours when outside bars are more likely to occur.
Percentage Calculation: It calculates the percentage chance of an outside bar occurring for each hour, based on the total bars observed. This percentage provides a clear view of the likelihood of encountering an outside bar within a given hour, which can be critical for timing entries and exits.
Visual Representation: The data is displayed in a table format directly on the chart, showing:
Hour: The specific hour of the day.
Total Bars: The total number of bars observed during each hour.
Outside Bar Count: The number of outside bars detected in that hour.
Percentage: The calculated percentage chance of an outside bar occurring in each hour.
How It Works:
The indicator uses a loop to analyze each bar in real-time, checking if it qualifies as an outside bar. It then records the occurrence in arrays that track data for each hour.
At the start of each new day, the counts are reset to ensure the data remains relevant and accurate.
The percentage chance of an outside bar occurring is computed using the formula: (Outside Bar Count / Total Bar Count) * 100.
The results are neatly organized in a table that updates dynamically, providing traders with real-time insights.
How to Use It:
Identify Key Trading Hours: Use the table to observe the distribution of outside bars across different hours. This can help you identify when significant market moves are more likely to occur.
Time Your Entries and Exits: Understanding the likelihood of outside bars can assist in timing your trades, particularly if you use strategies that rely on volatility or market reversals.
Market Analysis: The percentage data can provide insights into the market's behavior during specific times, helping you refine your trading strategy based on historical patterns.
Concepts Underlying the Calculations:
The script leverages the concept of "outside bars," which are often considered indicators of potential reversals or significant market movements. By analyzing these bars across different hours, the indicator provides a temporal dimension to market analysis, helping traders understand when these pivotal events are most likely to occur.
The detailed hourly breakdown and percentage calculations offer a nuanced view of market activity, making it a valuable tool for traders looking to enhance their timing and strategic decision-making.
This indicator is suitable for all types of traders, including those focused on day trading, swing trading, or even longer-term analysis. It provides a unique perspective on market activity that can complement other technical indicators and analyses.
Money Flow Index Crossover IndicatorThe "Money Flow Index Crossover Indicator" is a specialized technical analysis tool designed to assist traders by providing a clear visualization of potential buy and sell signals based on the Money Flow Index (MFI) and its smoothed moving average (SMA). This indicator delineates overbought and oversold zones, offering valuable insights into market dynamics. It operates as an oscillator on a separate pane, helping traders identify bullish and bearish market conditions with greater precision. By incorporating k-Nearest Neighbor (KNN) machine learning techniques, this indicator enhances the reliability and accuracy of the signals provided.
Originality and Usefulness:
This script is not just a simple mashup of existing indicators but integrates multiple components to create a unique and comprehensive analysis tool. The combined information from the MFI, its smoothed moving average, and the KNN machine learning techniques influence the form and accuracy of the Money Flow Index Average line and the Smoothed Money Flow Index line giving a visually helpful representation of overbought and oversold conditions. These lines are displayed in an oscillator style crossover, allowing users to visualize potential buy and sell zones for setting up potential signals. The user can adjust various settings of these tools behind the code to fine-tune the behavior and sensitivity of these lines. This integration provides a more robust and insightful trading tool that can adapt to different market conditions and trading styles.
How It Works:
Inputs:
MFI Settings:
Show Signals: Allows users to toggle the display of MFI and SMA crossing signals, which are critical for identifying potential market reversals.
Plot Amount: Determines the number of plots in the heat map, ranging from 2 to 28, enabling customization based on user preference.
Source: Defines the data source for MFI calculations, typically set to OHLC4 for a balanced view of price movements.
Smooth Initial MFI Length: Specifies the smoothing length for the initial MFI calculations to reduce noise and enhance signal clarity.
MFI SMA Length: Sets the length for the SMA used to smooth the MFI average, providing a more stable reference line.
Machine Learning Settings:
Use KInSource: Option to average MFI data by adding a lookback to the source, improving the accuracy of historical comparisons.
KNN Distance Requirement: Defines the distance calculation method for KNN (Max, Min, Both) to refine the data filtering process.
Machine Learning Length: Specifies the amount of machine learning data stored for smoothing results, balancing between responsiveness and stability.
KNN Length: Sets the number of KNN used to calculate the allowable distance range, enhancing the precision of the machine learning model.
Fast and Slow Lengths: Defines the lengths for fast and slow MFI calculations, allowing the indicator to capture different market dynamics.
Smoothing Length: Determines the length at which MFI calculations start for a more smoothed result, reducing false signals.
Variables and Functions:
KNN Function: Filters machine learning data to calculate valid distances based on defined criteria, ensuring more accurate MFI averages.
MFI Calculations: Computes both fast and slow MFI values, applies smoothing, and stores them for KNN processing to refine signal generation.
MFI KNN Calculation: Uses the KNN function to calculate the machine learning average of MFI values, enhancing signal reliability.
MFI Average and SMA: Calculates the average and smoothed MFI values, which are crucial for determining crossover signals.
Calculations:
MFI Values: Calculates current fast and slow MFI values and applies smoothing to reduce market noise.
Storage Arrays: Stores MFI data in arrays for KNN processing, enabling historical comparison and pattern recognition.
KNN Processing: Computes the machine learning average of MFI values using the KNN function, improving the robustness of signals.
MFI Average: Scales the MFI average to fit the heat map and calculates the smoothed SMA, providing a clear visual representation of trends.
Crossover Signals: Identifies bullish (MFI crossing above SMA) and bearish (MFI crossing below SMA) signals, which are key for making trading decisions.
Plots and Visuals:
MFI Average and SMA Lines: Plots the MFI average and smoothed SMA on the chart, allowing traders to easily visualize market trends and potential reversals.
Zones: Defines and plots overbought, neutral, and oversold zones for easy visualization. The recommended settings for these zones are:
Overbought Zone: Level set to approximately 24.6, indicating a potential market top.
Neutral Zone: Level set to 14, representing a balanced market condition.
Oversold Zone: Level set to 5.4, signaling a potential market bottom.
Crossover Marks: Plots circles on the chart to indicate bullish and bearish crossover signals, making it easier to spot entry and exit points.
Visual Alerts:
Bullish and Bearish Alerts: one can see overbought and oversold conditions and up alert conditions for bullish and bearish MFI crossover signals, enabling traders to have access to visual cues when these events are on trajectory to occur and, if they occur, act promptly with the visual representation of its zones.
Why It's Helpful:
The "Money Flow Index Crossover Indicator" provides traders with a sophisticated tool to identify potential buy and sell conditions based on the combined information of the MFI and its smoothed moving average. The KNN machine learning techniques enhance the accuracy of this indicator's clear visual representation of overbought, neutral, and oversold zones. This combination of data represented on the chart helps traders make informed decisions about market conditions. This indicator is particularly useful for traders looking to refine their entry and exit points by leveraging advanced data analysis in respect to overbought and oversold conditions.
Disclaimer:
This indicator is intended to assist traders in making informed decisions based on technical analysis. However, it is not a guarantee of future performance and should be used in conjunction with other analysis techniques and risk management practices. Past performance is not indicative of future results, and traders should exercise caution and perform their own due diligence before making any trading decisions.
Edufx's Power of ThreeIndicator Overview
Name: Edufx's Power of Three
Purpose:
To highlight the high and low price ranges of specific hourly candles on a chart.
To visualize these ranges using rectangles.
Features
Visibility Toggle:
Users can enable or disable the visibility of the rectangles highlighting the high and low price ranges of the specified candles.
Customizable Rectangle Length:
Users can adjust the length of the rectangles that extend from the specified candle's high and low prices.
Price Range Tracking:
The high and low prices of the specified candles are tracked and stored.
Rectangle Drawing:
Rectangles are drawn from 5 bars before the end of the specified hour, highlighting the high and low price ranges.
How It Works
Price Range Tracking:
During each specified hour, the high and low prices are updated with the highest and lowest prices observed.
Rectangle Drawing:
At the end of each specified hour, the high and low prices are used to draw rectangles extending 5 bars backward from the end of the hour.
Rectangles are color-coded (red, green, and blue) for easy identification.
Usage
This indicator is useful for traders who want to monitor and react to key price levels at specific times of the day.
The visual rectangles help in identifying potential trading opportunities based on price action relative to these key levels.
Example
If the price moves above the high of the specified candle but fails to close above it, a visual rectangle will highlight this price range.
Similarly, if the price moves below the low of the specified candle but fails to close below it, the rectangle will indicate this range.
This indicator provides visual aids to assist traders in making informed decisions based on the behavior of price at specific key levels.
Customizable NQ Level PlotterThis indicator, inspired by Kellyannnn, will plot user specified levels on the NQ Chart.
Add the levels you want to see, customize the colors, and you're good to go.
Let me give you an example of how this might be used:
Say, for example, that you have noticed that the NQ seems to move between the even hundred levels and the even fifty levels.... if you tell this indicator to plot those 2 levels at every even hundred and every even 50 level it will do so at:
18000
18050
18100
18150
18200
18250... and so on.
It will plot these levels above and below the current price.
If you want to add 2 other levels, you can do that as well.
So if you wanted to have it plot a line at every 00, 26, 50, and 77 it would do so like this:
18000
18026
18050
18077
18100
18126
18150
18177
18200
18226
18250
18277
18300... and so on.
Some people may find this helpful in planning their trades.
Half Cup [LuxAlgo]The Half Cup indicator detects and displays patterns with the shape of a Half Cup , initiating a channel. From this channel, breakouts are detected and highlighted with dots.
Users can control the shape of the Half Cup and the channel length through various settings.
Do note that the displayed half cups are displayed retrospectively, making them subject to backpainting.
🔶 USAGE
The idea behind the indicator is derived from the Cup & Handle pattern, which requires waiting for the pattern full completion.
Our Half Cup publication aims to find opportunities when the potential cup is only formed halfway.
In this example, a green dot shows the first breakout of the upper channel extremity. A few bars later, the price went under it, after which it returned above, triggering a second green dot. Both triggers were good opportunities in this case, and the price rose afterward.
The Half Cup pattern can be the start of a potential complete Cup & Handle (As in the example above, a complete Cup pattern (without the Handle ) is shown, manually drawn with dashed lines).
Every green/red dot, whether on a bullish or bearish pattern, points to a breakout respectively above/below the channel.
Besides drawing patterns and the corresponding breakouts, the Half Cup indicator can also provide insights into trends and potential opportunities in the long run.
🔶 DETAILS
🔹 Validation
Several criteria must be fulfilled before a visible pattern on the chart is drawn.
Calculations are done beforehand to know where the Half Cup pattern would be positioned.
The pattern's bottom and top edges are checked for the number of bars whose closing price is outside the half-cup area. When the number of breakouts above/below is equal to or lower than the user-defined settings ( Max % Breaks Top/Bottom ), the pattern is drawn together with a brighter-colored channel next to it.
Dots highlighting the channel's breakout can be drawn from that moment until the end of both channel lines.
🔹 Positioning
Users can adjust the following settings to fit their needs:
% Broadness: Moves the Top/Bottom line (bullish or bearish) diagonally upwards/downwards.
Vertical Shift: Shifts the entire pattern up/down.
Channel Length: Sets the line length of the channel.
Note that adjusting the position of the pattern will change the validation; the script will be rerun to check if patterns are still valid or if new patterns can be drawn. Some patterns may disappear, while new ones may appear.
Before adjusting the position, the user can set Max % Breaks Top/Bottom at 100%. When the positioning is set, Max % Breaks Top/Bottom can be set as desired.
🔹 Updated Drawings
The Half Cup pattern is always drawn retrospectively (that is it is subject to backpainting), the channel is drawn from the bar from where the pattern is detected. Every breakout of the channel will remain visible as dots.
When a new swing high/low is found while the previous swing low/high remains the same, the pattern is updated to minimize clutter. The dots of earlier drawings will remain visible (to ensure no repainting occurs), but the color becomes faded, as such bright dots are associated with patterns that are visible on the chart, while faded dots are from removed/updated patterns.
🔶 SETTINGS
Swing Length: Period used for the swing detection, with higher values returning longer-term Swing Levels.
🔹 Validation
Max % Breaks Bottom: Allowed maximum amount of bars where the closing price is below the bottom of the Half Cup pattern against the total width of the pattern (bars).
Max % Breaks Top: Allowed maximum amount of bars where the closing price is above the top of the Half Cup pattern against the total width of the pattern (bars).
🔹 Positioning
% Broadness: Moves the Top/Bottom line (bullish or bearish) diagonally upwards/downwards.
Vertical Shift: Shifts the entire pattern up/down.
Channel Length: Sets the line length of the channel.
Prometheus IQR bandsThis indicator is a tool that uses market data to plot bands along with a price chart.
This tool uses interquartile range (IQR) instead of Standard Deviation (STD) because market returns are not normally distributed. There is also no way to tell if the pocket of the market you are looking at is normally distributed. So using methods that work better with non-normal data minimizes risk more than using a different process.
Calculation
Code for helper functions:
// Function to calculate the percentile value
percentile(arr, p) =>
index = math.floor(p * (array.size(arr) - 1) + 0.5)
array.get(arr, index)
manual_iqr(data, lower_percentile, upper_percentile)=>
// Sort the data
data_arr = array.new()
for i = 0 to lkb_
data_arr.push(close )
array.sort(data_arr)
sorted_data = data_arr.copy()
n = array.size(data_arr)
// Calculate the specified percentiles
Q1 = percentile(sorted_data, lower_percentile)
Q3 = percentile(sorted_data, upper_percentile)
// Calculate IQR
IQR = Q3 - Q1
// Return the IQR
IQR
IQRB(lkb_, sens)=>
sens_l = sens/100
sens_h = (100-sens)/100
val = manual_iqr(close, sens_l, sens_h)
sma = ta.sma(close, int(lkb_))
upper = sma + val
lower = sma - val
Percentile Calculation (percentile function):
Calculates the percentile value of an array (arr) at a given percentile (p).
Uses linear interpolation to find the exact percentile value in a sorted array.
Manual IQR Calculation (manual_iqr function):
Converts the input data into an array (data_arr) and sorts it.
Computes the lower and upper quartiles (Q1 and Q3) using the specified percentiles (lower_percentile and upper_percentile).
Computes the Interquartile Range (IQR) as IQR = Q3 - Q1.
Returns the computed IQR.
IQRB Function Calculation (IQRB function):
Converts the sensitivity percentage (sens) into decimal values (sens_l for lower percentile and sens_h for upper percentile).
Calls manual_iqr with the closing prices (close) and the lower and upper percentiles.
Calculates the Simple Moving Average (SMA) of the closing prices (close) over a specified period (lkb_).
Computes the upper and lower bands of the IQR using the SMA and the calculated IQR (val).
Returns an array containing the upper band, lower band, and SMA values.
After the IQR is calculated at the specified sensitivity it is added to and subtracted from a SMA of the specified period.
This provides us with bands of the IQR sensitivity we want.
Trade Examples
Step 1: Price quickly and strongly breaks below the bottom band and continues there for some bars.
Step 2: Price re-enters the bottom band and has a strong reversal.
Step 1: Price strongly breaks above the top band and continues higher.
Step 2: Price breaks below the top band and reverses to the downside.
Step 3: Price breaks below the bottom band after our previous reversal.
Step 4: Price regains that bottom band and reverses to the upside.
Step 5: Price continues moving higher and does not break above the top band or reverse.
Step 1: Price strongly breaks above the top band and continues higher.
Step 2: Price breaks below the top band and reverses to the downside.
Step 3: Price breaks below the bottom band after our previous reversal.
Step 4: Price regains that bottom band and reverses to the upside.
Step 5: Price strongly breaks above the top band after the previous reversal.
Step 6: Price breaks below the top band and reverses down.
Step 7: Price strongly breaks above the top band and continues moving higher.
Step 8: Price breaks below the top band and reverses down.
Step 9: Price strongly breaks above the top band and continues moving higher.
Step 10: Price breaks below the top band and reverses down.
Step 1: Price breaks above the top band.
Step 2: Price drops below the top band and chops slightly, without a large reversal from that break.
Step 3: Price breaks below the bottom band.
Step 4: Price re-enters the bottom band and just chops, no large reversal.
Step 5: Price breaks below the bottom band.
Step 6: Price retakes the bottom band and strongly reverses.
This tool can be uses to spot reversals and see when trends may continue as the stay inside the bands. No indicator is 100% accurate, we encourage traders to not follow them blindly and use them as tools.
Price Action Toolkit Lite [UAlgo]The Price Action Toolkit Lite is a comprehensive indicator designed to enhance your chart analysis with advanced price action tools. This powerful toolkit combines multiple technical analysis concepts to provide traders with a clear visualization of market structure, liquidity levels, order blocks, and trend lines. By integrating these elements, the indicator aims to offer a holistic view of price action, helping traders identify potential entry and exit points, as well as key levels of interest in the market.
🔶 Key Features
Market Structure Analysis: The indicator includes a ZigZag feature to highlight significant market highs and lows, aiding in the visualization of market structure changes and trends.
Liquidity Sweeps Detection: It identifies and displays liquidity sweeps, which are crucial for recognizing potential market reversals and areas of interest where significant price action is likely to occur.
Order Blocks: Automatically detects and draws order blocks, highlighting areas of institutional buying and selling pressure, which can serve as key support and resistance levels.
Trend Lines: The toolkit can draw and extend trend lines based on pivot points, providing a clear view of prevailing market trends and potential breakout points.
Customizable Settings: Users can adjust various settings, including the length of the ZigZag, liquidity detection sensitivity, the number of order blocks to display, and trend line detection parameters, allowing for a tailored analysis experience.
🔶 Disclaimer
The "Price Action Toolkit Lite " is intended for educational and informational purposes only.
It is not financial advice and should not be construed as such. Trading in financial markets involves substantial risk, including the risk of loss.
Past performance is not indicative of future results.
🔷 Similar Scripts
Equal Highs and Lows {Reh's and Rel's }# Equal Highs and Lows {Reh's and Rel's} Indicator
## Overview
The "Equal Highs and Lows {Reh's and Rel's}" indicator is designed to identify and mark equal highs and lows on a price chart. It detects both exact and relative equal levels, draws lines connecting these levels, and optionally labels them. This tool can help traders identify potential support and resistance zones based on historical price levels.
## Key Features
1. **Exact and Relative Equality**: Detects both precise price matches and relative equality within a specified threshold.
2. **Customizable Appearance**: Allows users to adjust colors, line styles, and widths.
3. **Dynamic Line Management**: Automatically extends or removes lines based on ongoing price action.
4. **Labeling System**: Optional labels to identify types of equal levels (e.g., "Equal High", "REH/Equal High").
5. **Flexible Settings**: Adjustable parameters for lookback periods, maximum bars apart, and relative equality thresholds.
## User Inputs
### Appearance
- `lineColorHigh`: Color for lines marking equal highs (default: red)
- `lineColorLow`: Color for lines marking equal lows (default: green)
- `lineWidth`: Thickness of the lines (range: 1-5, default: 1)
- `lineStyle`: Style of the lines (options: Solid, Dash, Dotted)
- `showLabels`: Toggle to show or hide labels for equal highs and lows
### Settings
- `lookbackLength`: Number of bars to look back for finding equal highs and lows (default: 200)
- `maxBarsApart`: Maximum number of bars apart for equal highs/lows to be considered (range: 2-10, default: 5)
### Relative Equality
- `considerRelativeEquals`: Enable detection of relative equal highs and lows
- `thresholdIndex`: Maximum tick difference for relative equality in index instruments (range: 1-10, default: 2)
- `thresholdStocks`: Maximum tick difference for relative equality in stock instruments (range: 5-200, step: 5, default: 10)
## How It Works
The indicator scans historical price data to identify equal or relatively equal highs and lows. It draws lines connecting these levels and updates them as new price data comes in. Lines are extended if the level holds and removed if the price breaks through. The tool adapts to different market conditions by allowing adjustments to the equality thresholds for various instrument types.
## Practical Use
Traders can use this indicator to:
- Identify potential support and resistance levels
- Spot areas where price might react based on historical turning points
- Enhance their understanding of price structure and repetitive patterns
## Disclaimer
This indicator is provided as a tool to assist in identifying potential price levels of interest. It is not financial advice. Users should not rely solely on this or any single indicator for trading decisions. Always conduct thorough analysis, consider multiple factors, and be aware that past price behavior does not guarantee future results. All trading involves risk.
Smoothed Heiken Ashi Strategy Long OnlyThis is a trend-following approach that uses a modified version of Heiken Ashi candles with additional smoothing. Here are the key components and features:
1. Heiken Ashi Modification: The strategy starts by calculating Heiken Ashi candles, which are known for better trend visualization. However, it modifies the traditional Heiken Ashi by using Exponential Moving Averages (EMAs) of the open, high, low, and close prices.
2. Double Smoothing: The strategy applies two layers of smoothing. First, it uses EMAs to calculate the Heiken Ashi values. Then, it applies another EMA to the Heiken Ashi open and close prices. This double smoothing aims to reduce noise and provide clearer trend signals.
3. Long-Only Approach: As the name suggests, this strategy only takes long positions. It doesn't short the market during downtrends but instead exits existing long positions when the sell signal is triggered.
4. Entry and Exit Conditions:
- Entry (Buy): When the smoothed Heiken Ashi candle color changes from red to green (indicating a potential start of an uptrend).
- Exit (Sell): When the smoothed Heiken Ashi candle color changes from green to red (indicating a potential end of an uptrend).
5. Position Sizing: The strategy uses a percentage of equity for position sizing, defaulting to 100% of available equity per trade. This should be tailored to each persons unique approach. Responsible trading would use less than 5% for each trade. The starting capital used is a responsible and conservative $1000, reflecting the average trader.
This strategy aims to provide a smooth, trend-following approach that may be particularly useful in markets with clear, sustained trends. However, it may lag in choppy or ranging markets due to its heavy smoothing. As with any strategy, it's important to thoroughly backtest and forward test before using it with real capital, and to consider using it in conjunction with other analysis tools and risk management techniques.
This has been created mainly to provide data to judge what time frame is most profitable for any single asset, as the volatility of each asset is different. This can bee seen using it on AUXUSD, which has a higher profitable result on the daily time frame, whereas other currencies need a higher or lower time frame. The user can toggle between each time frame and watch for the higher profit results within the strategy tester window.
Other smoothed Heiken Ashi indicators also do not provide buy and sell signals, and only show the change in color to dictate a change in trend. By adding buy and sell signals after the close of the candle in which the candle changes color, alerts can be programmed, which helps this be a more hands off protocol to experiment with. Other smoothed Heiken Ashi indicators do not allow for alarms to be set.
This is a unique HODL strategy which helps identify a change in trend, without the noise of day to day volatility. By switching to a line chart, it removes the candles altogether to avoid even more noise. The goal is to HODL a coin while the color is bullish in an uptrend, but once the indicator gives a sell signal, to sell the holdings back to a stable coin and let the chart ride down. Once the chart gives the next buy signal, use that same capital to buy back into the asset. In essence this removes potential losses, and helps buy back in cheaper, gaining more quantitity fo the asset, and therefore reducing your average initial buy in price.
Most HODL strategies ride the price up, miss selling at the top, then riding the price back down in anticipation that it will go back up to sell. This strategy will not hit the absolute tops, but it will greatly reduce potential losses.
Candlestick Structure [LuxAlgo]The Candlestick Structure indicator detects major market trends and displays various candlestick patterns aligning with the detected trend, filtering out potentially unwanted patterns as a result. Multiple trend detection methods are included and can be selected by the users.
A dashboard showing the alignment percentage of each individual pattern is also provided.
🔶 USAGE
By distinguishing major and minor trend detection, we can still detect patterns based on minor trends, yet filter out the patterns that do not align with the major trend.
By detecting candlestick patterns that align with a major trend, we can effectively detect the ending points of retracements, potentially providing various entry points of interest within a trend.
Users are able to track the alignment of each candlestick pattern in the dashboard to reveal which patterns typically align with the trend and which may not.
Note: Alignment % only checks if the pattern's direction is the same as the current trend direction. These are only raw readings and not any type of confidence score.
🔶 DETAILS
In this indicator, we are identifying and tracking 16 different Candlestick Patterns.
🔹 Bullish Patterns
Hammer: Identified by a small upper wick (or no upper wick) with a small body, and an elongated lower wick whose length is 2X greater than the candle body’s width.
Inverted Hammer: Identified by a small lower wick (or no lower wick) with a small body, and an elongated upper wick whose length is 2X greater than the candle body’s width.
Bullish Engulfing: A 2 bar pattern identified by a large bullish candle body fully encapsulating (opening lower and closing higher) the previous small (bearish) candle body.
Rising 3: A 5 bar pattern identified by an initial full-bodied bullish candle, followed by 3 bearish candles that trade within the high and low of the initial candle, followed by another full-bodied bullish candle closing above the high of the initial candle.
3 White Soldiers: Identified by 3 full-bodied bullish candles, each opening within the body and closing below the high, of the previous candle.
Morning Star: A 3 bar pattern identified by a full-bodied bearish candle, followed by a small-bodied bearish candle, followed by a full-bodied bullish candle that closes above the halfway point of the first candle.
Bullish Harami: A 2 bar pattern, identified by an initial bearish candle, followed by a small bullish candle whose range is entirely contained within the body of the initial candle.
Tweezer Bottom: A 2 bar pattern identified by an initial bearish candle, followed by a bullish candle, both having equal lows.
🔹 Bearish Patterns
Hanging Man: Identified by a small upper wick (or no upper wick) with a small body, and an elongated lower wick whose length is 2X greater than the candle body’s width.
Shooting Star: Identified by a small lower wick (or no lower wick) with a small body, and an elongated upper wick whose length is 2X greater than the candle body’s width.
Bearish Engulfing: A 2 bar pattern identified by a large bearish candle body fully encapsulating (opening higher and closing lower) the previous small (bullish) candle body.
Falling 3: A 5 bar pattern identified by an initial full-bodied bearish candle, followed by 3 bullish candles that trade within the high and low of the initial candle, followed by another full-bodied bearish candle closing below the low of the initial candle.
3 Black Crows: Identified by 3 full-bodied bearish candles, each open within the body and closing below the low, of the previous candle.
Evening Star: A 3 bar pattern identified by a full-bodied bullish candle, followed by a small-bodied bullish candle, followed by a full-bodied bearish candle that closes below the halfway point of the first candle.
Bearish Harami: A 2 bar pattern, identified by an initial bullish candle, followed by a small bearish candle whose range is entirely contained within the body of the initial candle.
Tweezer Top: A 2 bar pattern identified by an initial bullish candle, followed by a bearish candle, both having equal highs.
🔹 Trend Types
Major trend is displayed at all times, the display will change depending on the trend method selected.
The minor trend can also be visualized; to avoid confusion, the minor trend can optionally be displayed through the candle colors.
Supertrend: Displays Upper and Lower SuperTrend, When we break above the upper, it is considered an Uptrend. When we break below the lower, it is considered a Downtrend.
EMAs: Displays Fast and Slow EMAs, When Fast>Slow, it is considered an Uptrend. When Fast<Slow, it is considered a Downtrend.
ChoCh: Displays ChoCh Lines and Labels, When a Bullish ChoCh occurs, it is now considered as an Uptrend. When a Bearish ChoCh occurs, it is now considered a Downtrend.
Donchian Channel: Displays the Highest and Lowest Values, When we break above the Highest, it is considered an Uptrend. When we break below the Lowest, it is considered a Downtrend.
Below is an example of the Change of Character (ChoCh) method of trend detection.
Note: In this description, each screenshot has a different trend method in use, scroll through if you are looking for a specific one.
🔶 SETTINGS
Candlestick Patterns: Choose which candlestick patterns to include in calculations.
Minor Trend Length: Determines the Donchian Channel length to use for minor trend identification.
Major Trend Method: Determines which trend method to use for identifying Major Trend.
Major Trend Parameters: Various inputs for controlling Major trends, depending on the specific method you have selected.
Color Candles: Colors the chart candles based on minor trend.
Dashboard: Control display size and location of Alignment Dashboard.
ICT Premium/DiscountThis script indicator prints lines for the highest, lowest and middle price in a selected time period (in days).
With that you can easily see wheter the price is currently high, low or balanced compared to the prices in the selected time period.
I also added a gray dotted vertical line to the chart which represents the beginning of your selected time period
You can choose the time period on your own and you can also customize the color and style of the lines.
Your lines may get printed in a separate window. To fix this, click on the indicator and select
Move to -> existing pane above
Your lines also may stay stuck on the same place on the chart and are not fixed to a high/low. To fix this, right-click on the left price scale and select
Merge all scales into one -> on the right
MA Optimizer Simplified [CHE]Introduction:
The MA Optimizer Simplified is a powerful tool for traders and analysts who want to compare and optimize various moving averages (MA). This tool is specifically designed to identify the best or worst performers among a variety of moving averages based on their cumulative performance.
Features and Benefits:
1. Versatility:
- Supports multiple types of moving averages, including:
- Simple Moving Average (SMA): A basic MA calculated by averaging the closing prices over a specified period.
- Exponential Moving Average (EMA): Gives more weight to recent prices, making it more responsive to new information.
- Weighted Moving Average (WMA): Assigns more weight to recent data, but in a linear fashion.
- Volume-Weighted Moving Average (VWMA): Averages prices based on volume, giving more importance to periods with higher trading volume.
- Hull Moving Average (HMA): Designed to reduce lag while improving smoothness.
- Smoothed Moving Average (SMMA or RMA): Averages prices over a longer period, providing a smoother line.
- Bollinger Bands: Uses SMA as a basis and adds upper and lower bands based on standard deviations.
- T3: A smoother and less lagging MA that reduces market noise.
- Allows users to easily switch between MA types and test different periods.
2. Performance Evaluation:
- Calculates the cumulative performance of up to ten different MAs.
- Automatically identifies the best or worst performer based on user selection (Best or Worst).
3. Crossover Detection:
- Detects crossovers of prices and MAs to measure performance.
- Provides clear visual signals when the price crosses a moving average.
4. Visual Representation:
- Plots the best MA indicator on the chart, dynamically changing its color based on price movement relative to the MA.
- Table functionality to display the performance of each MA, including the length and achieved performance in percentage.
5. Customizable Settings:
- Customizable settings for table size and position as well as colors for better visualization and user-friendliness.
- Flexibility in selecting the number of candles that must be above or below the MA before a signal is triggered.
Special Features:
1. T3 Indicator:
- The T3 indicator provides a smoother representation and reduces market noise, leading to more precise signals.
2. Crossover and Crossunder Logic:
- The script includes advanced logic for detecting crossover and crossunder events to identify accurate entry points.
3. Dynamic Color Change:
- The best MA indicator changes color based on the number of candles above or below the MA, helping to quickly recognize market sentiment.
4. Comprehensive Performance Analysis:
- The calculation of cumulative performance for each MA allows for detailed analysis and helps identify the most effective trading strategies.
Conclusion:
The MA Optimizer Simplified is an essential tool for any trader looking to analyze and optimize the performance of various moving averages. With its versatile features and user-friendly settings, it offers a comprehensive and efficient solution for technical analysis.
Best regards, Chervolino
MTF Regime Filter II [CHE]Regime Filter II - Comprehensive Guide
Introduction
The "Regime Filter II " indicator is a tool designed to help traders identify market trends by smoothing price data and applying a color scheme to visualize bullish and bearish conditions. This guide provides a detailed explanation of the script's functionality, benefits, and how to use it effectively in TradingView.
Key Benefits
1. Trend Identification: Smooths price data to highlight underlying trends, making it easier for traders to spot potential buying or selling opportunities.
2. Visual Clarity: Uses distinct color schemes to differentiate between bullish and bearish market conditions, enhancing visual analysis.
3. Customization: Offers various settings to adjust smoothing and averaging lengths, choose between different color schemes, and set visibility for different timeframes.
4. Neutral Candle Option: Provides an option to display neutral candles for clearer visual representation when market conditions are neither strongly bullish nor bearish.
5. Timeframe Adaptability: Includes functions to determine appropriate step sizes based on different timeframes, ensuring the indicator remains accurate across various trading periods.
Script Breakdown
1. Indicator Declaration
The script starts by declaring itself as a TradingView indicator using the latest version of Pine Script. This sets up the framework for the indicator's functionality.
2. User Inputs for Smoothing and Averaging Lengths
The script allows users to input specific lengths for smoothing and averaging intervals. These inputs are crucial for determining how the price data is processed to identify trends. By adjusting these lengths, users can fine-tune the sensitivity of the indicator to market movements.
3. Color Scheme Selection
Users can choose between two color schemes: "Traditional" and "WT1 0 Rule". The selected color scheme will determine how the indicator colors the candles to represent bullish and bearish conditions. This customization enhances the visual appeal and usability of the indicator according to personal preferences.
4. Settings for Timeframe Visibility
The script includes settings that allow users to specify which timeframes the indicator should be visible on. This feature helps traders focus on the most relevant timeframes for their trading strategies. Additionally, users can set the number of recent candles to display, providing a clear view of the most recent market trends.
5. Color Definitions
The indicator defines specific colors for bearish and bullish candles. Bearish candles are colored red, while bullish candles are green. These color definitions are applied based on the selected color scheme and the calculated trend, providing a quick visual reference for market conditions.
6. Time Constants
To manage different timeframes effectively, the script uses constants that represent various time intervals in milliseconds, such as minutes, hours, and days. These constants are used to convert timeframes into a format that the script can work with to determine the appropriate step size for calculations.
7. Step Size Determination
The script includes a function that determines the step size based on the selected timeframe. This function ensures that the indicator adapts to different timeframes, maintaining its accuracy and relevance across various trading periods. The step size is calculated based on time intervals, and appropriate labels (like "60", "240", "1D") are assigned.
- For timeframes less than or equal to 1 minute, the step size is set to "60".
- For timeframes less than or equal to 5 minutes, the step size is set to "240".
- For timeframes less than or equal to 1 hour, the step size is set to "1D" (daily).
- For timeframes less than or equal to 4 hours, the step size is set to "3D" (three days).
- For timeframes less than or equal to 12 hours, the step size is set to "7D" (weekly).
- For timeframes less than or equal to 1 day, the step size is set to "1M" (monthly).
- For timeframes less than or equal to 1 week, the step size is set to "3M" (three months).
- For all other timeframes, the step size is set to "12M" (yearly).
8. Trend Calculation
The core of the indicator is its ability to calculate market trends. Here's a detailed breakdown of how the `calculateTrend` function works:
- Initialization: Variables for the middle price and scale, and summations of high/low prices and ranges, are initialized.
- Summation Loop: A loop runs over the smoothing length to calculate the sum of high and low prices and their range.
- Middle and Scale Calculation: The middle price is determined as the average of high/low sums, and the scale is calculated as a fraction of the average range.
- Normalization: The high, low, and close prices are normalized based on the middle price and scale.
- HT Calculation: The normalized prices are smoothed using a simple moving average (SMA).
- Frequency and Exponential Calculations: The frequency and related constants (a, c1, c2, c3) are calculated for further smoothing.
- Smoothed Moving Average (SMA): A smoothed moving average is computed using the HT values and exponential constants.
- WT1 and WT2 Calculation: The final smoothed values (WT1) and their average (WT2) are derived.
9. Color Application Based on Trend
Once the trend is calculated, the script applies the appropriate color to the candles based on the selected color scheme. This function ensures that the visual representation of the trend is consistent with the user’s preferences.
10. Label Plotting for Timeframes
If the option to display timeframe labels is enabled, the script plots labels on the chart to indicate the current timeframe. This feature helps users quickly identify which timeframe they are analyzing.
11. Shape Plotting Based on Trend and Color Scheme
The indicator plots shapes (squares) on the chart based on the calculated trend and selected color scheme. These shapes provide an additional visual cue for market conditions, enhancing the overall clarity of the indicator.
12. Neutral Candle Color Option
The script includes an option to set the color of neutral candles when market conditions are neither strongly bullish nor bearish. This option helps traders better visualize periods of market indecision.
Summary
The "Regime Filter II " is a powerful and customizable tool for traders, offering clear visual cues for market trends and adaptability to various timeframes. By smoothing price data and applying intuitive color schemes, it helps traders make more informed decisions. With features like adjustable smoothing lengths, multiple color schemes, and optional neutral candle displays, this indicator enhances market analysis and trading strategy development. By following this comprehensive guide, traders can effectively utilize the "Regime Filter II " indicator to enhance their market analysis and make more informed trading decisions.
Best regards
HPotter Last PriceIf you, like me, like to watch the market in real time for a long time, then this script will be useful to you. Stay tuned.
A script that helps you navigate the current price and the latest highs and lows
IMPORTANT: For the script to work correctly, you must enable "On every tick" in Preoperties.
Throw it on any chart.
On the right appears:
white price - last transaction price
green price - current high that has not been reached (looks at bars in history)
red price - current low that has not been reached (looks at bars in history)
yellow price - new high or low installed
QuasimodoThis indicator helps traders spot certain patterns on a price chart that might indicate a change in price direction. These patterns are known as "engulfing patterns."
How It Works1.
Bullish Engulfing Patterns:- The current bar (or candle) closes higher than it opens (it's a green or white candle).- The previous bar closed lower than it opened (it was a red or black candle).- The current bar's high is higher than the previous bar's high, and its low is lower than the previous bar's low.- There's another variation where both the current and previous bars are green, but the current bar is still higher and lower than the previous one.
2. Bearish Engulfing Patterns:- The current bar closes lower than it opens (it's a red or black candle).- The previous bar closed higher than it opened (it was a green or white candle).- The current bar's low is lower than the previous bar's low, and its high is higher than the previous bar's high.- There's another variation where both the current and previous bars are red, but the current bar is still higher and lower than the previous one.
What It Shows-
When the indicator spots one of these patterns, it colors the previous candle:-
Yellow for a bullish pattern (price might go up).-
Pink for a bearish pattern (price might go down).
Alerts- The indicator can also send an alert to let you know when it finds one of these patterns, so you don't miss it.
First 12 Candles High/Low BreakoutThis indicator identifies potential breakout opportunities based on the high and low points formed within the first 12 candles after the market opens on a 5-minute timeframe. It provides visual cues and labels to help traders make informed decisions.
Features:
Market Open High/Low: Marks the highest and lowest price of the first 12 candles following the market open with horizontal lines for reference.
Breakout Signals: Identifies potential buy or sell signals based on the first 5-minute candle closing above the open high or below the open low.
Target and Stop-Loss: Plots horizontal lines for target prices (100 points by default, adjustable) and stop-loss levels (100 points by default, adjustable) based on the entry price.
Visual Cues: Uses green triangles (up) for buy signals and red triangles (down) for sell signals.
Informative Labels: Displays labels with "Buy" or "Sell" text, target price, and stop-loss price next to the entry signals (optional).
Customization:
You can adjust the target and stop-loss point values using the provided inputs.
How to Use:
Add the script to your TradingView chart.
The indicator will automatically plot the open high, open low, potential entry signals, target levels, and stop-loss levels based on the first 12 candles after the market opens.
Use the signals and price levels in conjunction with your own trading strategy to make informed decisions.
ADR Study [TFO]This indicator is focused on the Average Daily Range (ADR), with the goal of collecting data to show how often price reaches/closes through these levels, as well as a look at historical moves that reached ADR and at similar times of day to study how price moved for the remainder of the session.
The ADR here (blue line) is calculated using the difference between a day's highest and lowest points. If our ADR length is 5, then we are taking this difference from the last 5 days and averaging them together. At the following day's open, we take half of this average and plot it above and below the daily opening price to place theoretical limits on how far price may move according to the lookback period. The triangles indicate when price has reached ADR (either +ADR or -ADR), and alerts can be created for these events.
The Scale Factor is an optional parameter to scale the ADR by a certain amount. If set to 2 for example, then the ADR would be 2x the average daily range. This value will be reflected in the statistics options so that users can see how different values affect the outcomes.
Show Table will display data collected on how often price reaches these levels, and how often price closes through them, for each day of the week. By default, these are colored as blue and red, respectively. From the following chart of NQ1!, we can see for example that on Mondays, price reached +ADR 38% of the time and closed through it 23% of the time. Note that the statistics for closing through the ADR levels are derived from all instances, not just those that reached ADR.
Show Sample Sizes will display how many instances were collected for all given sets of data. Referring to the same example of NQ1!, we can see that this particular chart has collected data from 109 Mondays. From those Mondays, 41 reached +ADR (38%, verifying our initial claim) and 25 closed through it (23%). This is important to understand the scope of the data that we're working with, as percentages can be misleading for smaller sample sizes.
Show Histogram will plot the same exact data as the table, just in a histogram form to visually emphasize the differences on a day-by-day basis. On this chart of RTY1!, we can see for example from the top histogram that on Wednesdays, 40% reached +ADR and only 22% closed through it. Similarly if we look at the bottom histogram, we can see that Wednesdays reached -ADR 46% of the time and closed through it only 28% of the time.
We can also use Show Sample Sizes to display the same information that would be in the table, showing how many instances were collected for each event. In this case we can see that we observed 175 Fridays, where 76 reached +ADR (43%) and 44 closed above it (25%).
Show Historical Moves is an interesting feature of this script. When enabled, if price has reached +/- ADR in the current session, the indicator will plot the evolution of the close prices from all past sessions that reached +/- ADR to see how they traded for the remainder of the session. These calculations are made with respect to the ADR range at the time that price traded through these levels.
Historical Proximity (Bars) allows the user to observe historical moves where price reached ADR within this many bars of the current session (assuming price has reached an ADR level in the current session). In the above chart, this is set to 1000 so that we can observe each and every instance where price reached an ADR level. However, we can refine this a bit more.
By limiting the Historical Proximity to something like 20, we are only considering historical moves that reached ADR within 20 bars of todays +ADR reach (9:50 am EST, noted by the blue triangle up). We can enable Show Average Move to display the average move by the filtered dataset, and Match +/-ADR to only observe moves inline with the current day's price action (in this case, only moves that reached +ADR, since price has not reached -ADR).
We can add one more filter to this data with the setting Only Show Days That: closed through ADR; closed within ADR; or either. The option either is what you see above, as we are considering both days that closed through ADR and days that closed within it (note that in this case, closing within ADR simply means that price reached +ADR and closed the day below it, and vice versa for -ADR; this does not mean that price must have closed in between +ADR and -ADR). If we set this to only show instances that closed within ADR, we see the following data.
Alternatively, we can choose to Only Show Days That closed through ADR, where we would see the following data. In this case, the average move very much resembles the price action that occurred on this particular day. This is in no way guaranteed, but it makes an interesting case for how we could use this data in our analysis by observing similar, historical price action.
Please note that this data will change over time on a rolling basis due to TradingView's bar lookback, and that for this same reason, lower timeframes will yield less data than larger timeframes.
Comprehensive Correlation Meter with Multiple MarketsThe Comprehensive Correlation Meter is designed to provide traders and investors with insights into the relationships between multiple financial instruments. This script expands upon an existing idea on TradingView about correlation by introducing the ability to analyze the correlation between three markets, offering deeper insights into market relationships. It helps users understand how these markets move in relation to each other, aiding in risk management and portfolio diversification.
Key Features:
Multiple Market Analysis: This script allows you to analyze the correlation between your primary market and two other selected markets.
Customizable Inputs: Users can select any symbols for the reference and third markets, and these selections must be confirmed before use.
Correlation Coefficients: Calculates and plots the correlation coefficients for:
Current Market vs. Reference Market
Third Market vs. Reference Market
Current Market vs. Third Market
An average correlation of all three markets combined.
Visual Aids: Plots reference lines at +1, 0, and -1 to indicate maximum positive correlation, no correlation, and maximum negative correlation.
How It Works:
Input Symbols: Select the symbols for the reference and third markets. The current market is based on the chart you are viewing.
Data Collection: The script collects the closing prices of the selected markets and calculates the percentage changes.
Correlation Calculation: Using the collected data, the script computes the covariance and standard deviations to determine the correlation coefficients.
Visualization: The correlation coefficients and covariances are plotted for visual analysis.
How to Use:
Select Symbols:
Use the input fields to specify the reference and third market symbols. Confirm your selections to proceed.
Customize Display:
Choose whether to display the covariance, reference market, current market, and third market.
Select which correlation coefficients to display.
Interpret Results:
A correlation coefficient close to +1 indicates a strong positive correlation.
A coefficient close to -1 indicates a strong negative correlation.
A coefficient around 0 indicates little to no correlation.
Use these insights to manage risk and diversify your portfolio effectively.
Example Use Case:
Suppose you are trading the S&P 500 and want to understand its correlation with the NASDAQ 100 and a particular stock, such as Apple. By setting the S&P 500 as the reference market, the NASDAQ 100 as the third market, and observing the current market (Apple), you can see how these instruments move in relation to each other. This can help you decide on hedging strategies or identify opportunities for diversification. However this is Not a Financial advise
SMA DMA Crossing SignalSMA and DMA Crossing Buy Sell Signals
This script implements a Double Moving Average (DMA) strategy, a popular technical analysis technique used by traders to identify trends and potential buy/sell signals in financial markets.
**Description:**
The Double Moving Average strategy involves the calculation of two moving averages – a short-term moving average and a long-term moving average. In this script, we calculate these moving averages as follows:
1. **Short-term DMA (`dmaShort`):**
- Calculated using a 28-bar Simple Moving Average (SMA).
- Represents the shorter-term trend in the price movement.
2. **Long-term DMA (`dmaLong`):**
- Also calculated using a 28-bar SMA.
- Displaced backward by 14 bars (`dmaLong := request.security(syminfo.tickerid, "D", dmaLong )`), effectively creating a 28-bar SMA with a -14 bar displacement.
- Represents the longer-term trend in the price movement.
**Signals:**
Buy and sell signals are generated based on the crossing of the short-term DMA over or under the long-term DMA:
- **Buy Signal (`DMA BUY`):** Occurs when the short-term DMA crosses above the long-term DMA (`dmaBuySignal`).
- **Sell Signal (`DMA SELL`):** Occurs when the short-term DMA crosses below the long-term DMA (`dmaSellSignal`).
**How to Use:**
- **Buy Signal:** Consider entering a long position when the short-term DMA crosses above the long-term DMA, indicating a potential uptrend.
- **Sell Signal:** Consider exiting a long position or entering a short position when the short-term DMA crosses below the long-term DMA, indicating a potential downtrend.
This script provides a visual representation of the DMA crossover signals on the chart, helping traders identify potential entry and exit points in the market.
**Note:** It's important to combine DMA signals with other technical analysis tools and risk management strategies for informed trading decisions.
All comments are welcome..
Forex SessionThis Trading View script highlights the trading sessions for New York, European, and Asian markets on the chart and adds labels at the start of each session. The script uses Pine Script version 5 and converts local session times to UTC to accurately display the session times regardless of your local Time zone.
Features :
Session Times:
New York: 8:30 AM to 3:00 PM (Eastern Time, GMT-4)
European: 8:00 AM to 4:30 PM (London Time, GMT+1)
Asian: 9:00 AM to 6:00 PM (Tokyo Time, GMT+9)
Background Highlighting: The script shades the background for each session.
New York Session: Blue
European Session: Green
Asian Session: Red
Today's sessions are shaded with 90% opacity.
Tomorrow's sessions are shaded with 70% opacity.
How It Works :
Session Times Conversion: The script converts the session times from local timezones to UTC
using the timestamp function.
Background Coloring: The bgcolor function is used to shade the background for each session.
Triple EMA Trend AlertThis EMA trend indicator works by determining if a short-term EMA is above an intermediate-term EMA that is in turn above a long-term EMA (in a bullish trend) or if the reverse is true in a bearish trend. An alert box is displayed on the chart to give a trend trader a quick at-a-glance reference to see which way the overall trend is moving by turning green when the trend is overall bullish, red when overall bearish, and gray when indecisive and not clearly trending (a good time for the trend trader to consider setting back and just observing as they wait for a new trend to develop). Text is displayed in the box showing the current overall trend direction. Sometimes, using this criterion, a trend can still be considered overall bullish while the EMAs are actually bearish prior an EMA crossover that results in a trend readout change to indecisive or in the opposite direction. For this reason, the indicator will also display in parenthesis if the EMAs are trending lower or higher by comparing all live-bar EMA values to that of the previous bar’s values to determine if they are collectively trending lower or higher at that time in order to give an early warning of a potential trend reversal before the EMA crossovers change the overall bullish or bearish readout of the indicator. Both the alert box and EMA line chart overlays can be turned on and off independently, if desired.
Seasonality Widget [LuxAlgo]The Seasonality Widget tool allows users to easily visualize seasonal trends from various data sources.
Users can select different levels of granularity as well as different statistics to express seasonal trends.
🔶 USAGE
Seasonality allows us to observe general trends occurring at regular intervals. These intervals can be user-selected from the granularity setting and determine how the data is grouped, these include:
Hour
Day Of Week
Day Of Month
Month
Day Of Year
The above seasonal chart shows the BTCUSD seasonal price change for every hour of the day, that is the average price change taken for every specific hour. This allows us to obtain an estimate of the expected price move at specific hours of the day.
Users can select when data should start being collected using the "From Date" setting, any data before the selected date will not be included in the calculation of the Seasonality Widget.
🔹 Data To Analyze
The Seasonality Widget can return the seasonality for the following data:
Price Change
Closing price minus the previous closing price.
Price Change (%)
Closing price minus the previous closing price, divided by the
previous closing price, then multiplied by 100.
Price Change (Sign)
Sign of the price change (-1 for negative change, 1 for positive change), normalized in a range (0, 100). Values above 50 suggest more positive changes on average.
Range
High price minus low price.
Price - SMA
Price minus its simple moving average. Users can select the SMA period.
Volume
Amount of contracts traded. Allow users to see which periods are generally the most /least liquid.
Volume - SMA
Volume minus its simple moving average. Users can select the SMA period.
🔹 Filter
In addition to the "From Date" threshold users can exclude data from specific periods of time, potentially removing outliers in the final results.
The period type can be specified in the "Filter Granularity" setting. The exact time to exclude can then be specified in the "Numerical Filter Input" setting, multiple values are supported and should be comma separated.
For example, if we want to exclude the entire 2008 period we can simply select "Year" as filter granularity, then input 2008 in the "Numerical Filter Input" setting.
Do note that "Sunday" uses the value 1 as a day of the week.
🔶 DETAILS
🔹 Supported Statistics
Users can apply different statistics to the grouped data to process. These include:
Mean
Median
Max
Min
Max-Min Average
Using the median allows for obtaining a measure more robust to outliers and potentially more representative of the actual central tendency of the data.
Max and Min do not express a general tendency but allow obtaining information on the highest/lowest value of the analyzed data for specific periods.
🔶 SETTINGS
Granularity: Periods used to group data.
From Data: Starting point where data starts being collected
🔹 Data
Analyze: Specific data to be processed by the seasonality widget.
SMA Length: Period of the simple moving average used for "Price - SMA" and "Volume - SMA" options in "Analyze".
Statistic: Statistic applied to the grouped data.
🔹 Filter
Filter Granularity: Period type to exclude in the processed data.
Numerical Filter Input: Determines which of the selected hour/day of week/day of month/month/year to exclude depending on the selected Filter Granularity. Only numerical inputs can be provided. Multiple values are supported and must be comma-separated.
