Volume-Based RSI Color Indicator with MAsVolume-Based RSI Color Indicator with MAs
Overview
This script combines the Relative Strength Index (RSI) with volume analysis to provide an enhanced perspective on market conditions. By dynamically coloring the RSI line based on overbought/oversold conditions and volume thresholds, this indicator helps traders quickly identify high-probability reversal zones. Additionally, it incorporates short-term and long-term moving averages (MAs) of the RSI for trend analysis, making it a versatile tool for scalping and swing trading strategies.
Key Features
Dynamic RSI Color Coding:
The RSI line changes color based on two conditions:
Overbought/High Volume: RSI is above the overbought threshold (default: 70) and volume exceeds the average volume by a user-defined multiplier (default: 2.0). The line turns red, indicating potential reversal zones.
Oversold/High Volume: RSI is below the oversold threshold (default: 30) and volume exceeds the average volume by the multiplier. The line turns green, suggesting potential buying opportunities.
Neutral Conditions: Default blue color for all other scenarios.
Volume Integration:
Unlike standard RSI indicators, this script incorporates volume data to refine signals, helping traders avoid false signals in low-volume environments.
RSI Moving Averages:
Two moving averages of the RSI (short-term and long-term) provide trend context:
200-period MA: Highlights the long-term trend in RSI values.
20-period MA: Shows short-term fluctuations for quick decision-making.
Both MAs can be calculated using Simple or Exponential methods, giving users flexibility.
Visual Aids:
Horizontal lines at the overbought (70) and oversold (30) levels help define the boundaries of expected price action extremes.
How It Works
The script calculates the RSI over a user-defined length (default: 14).
Volume data is compared to its moving average to determine if it exceeds the user-defined high-volume threshold.
When RSI and volume conditions align, the RSI line is dynamically colored to indicate potential overbought/oversold zones.
The RSI moving averages provide additional context to confirm trends or reversals.
How to Use
Identify Reversal Zones:
Look for green RSI signals in oversold conditions to identify potential buying opportunities.
Look for red RSI signals in overbought conditions to identify potential selling opportunities.
Use Moving Averages for Confirmation:
When the RSI is above its 200-period MA, the long-term trend is bullish; consider only long trades.
When the RSI is below its 200-period MA, the trend is bearish; consider only short trades.
Combine with Other Tools:
This indicator works best when used alongside price action analysis, candlestick patterns, or support/resistance levels.
Originality
This script is unique in combining volume analysis with RSI and RSI-specific moving averages. While many indicators focus on RSI or volume separately, this script marries these two key metrics to filter out weak signals and improve trade decision accuracy.
Chart Recommendations
Clean Chart: Use this indicator on a clean chart without additional overlays for maximum clarity.
Timeframes: Works well on intraday charts (e.g., 5m, 15m) for scalping and on higher timeframes (e.g., 1H, 4H, Daily) for swing trading.
Disclaimer
This indicator is a tool to aid trading decisions and should not be used in isolation. Always consider other factors such as market conditions, news events, and risk management.
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SufinBDThis TradingView script combines RSI, Stochastic RSI, MACD, and Bollinger Bands to generate Buy and Sell signals on two different timeframes: 4-hour (4H) and Daily (1D). The strategy aims to provide entry and exit points based on a multi-indicator confirmation approach, helping traders make more informed decisions.
Features:
RSI (Relative Strength Index):
Measures the speed and change of price movements.
The script looks for oversold conditions (RSI below 30) for buy signals and overbought conditions (RSI above 70) for sell signals.
Stochastic RSI:
Measures the level of RSI relative to its high-low range over a given period.
A Stochastic RSI below 0.2 indicates oversold conditions, and a value above 0.8 indicates overbought conditions.
It helps identify overbought and oversold conditions in a more precise manner than regular RSI.
MACD (Moving Average Convergence Divergence):
A trend-following momentum indicator that shows the relationship between two moving averages of a security's price.
The MACD line crossing above the Signal line generates bullish signals, and vice versa for bearish signals.
Bollinger Bands:
A volatility indicator that consists of a middle band (SMA of price), an upper band, and a lower band.
When the price is below the lower band, it signals potential buy opportunities, while prices above the upper band signal potential sell opportunities.
Timeframe Usage:
The script calculates indicators for both the 4-hour (4H) and Daily (1D) timeframes.
The combined signals from these two timeframes are used to generate Buy and Sell alerts.
Buy Signal:
A Buy signal is generated when all of the following conditions are met:
RSI on both 4H and 1D is below 30 (oversold conditions).
Stochastic RSI on both timeframes is below 0.2.
The MACD line is above the Signal line on both timeframes.
The price is below the lower Bollinger Band on both the 4H and 1D charts.
Sell Signal:
A Sell signal is generated when all of the following conditions are met:
RSI on both 4H and 1D is above 70 (overbought conditions).
Stochastic RSI on both timeframes is above 0.8.
The MACD line is below the Signal line on both timeframes.
The price is above the upper Bollinger Band on both the 4H and 1D charts.
Visuals:
Buy signals are marked with green labels below the bars.
Sell signals are marked with red labels above the bars.
Bollinger Bands are displayed on the chart with the upper and lower bands marked in blue (for 4H) and orange (for 1D).
Purpose:
This script aims to provide more reliable buy/sell signals by combining indicators across multiple timeframes. It is ideal for traders who want to use multiple confirmation points before entering or exiting a trade.
How to Use:
Apply the script to any chart on TradingView.
Look for Buy and Sell signals that meet the conditions above.
You can adjust the timeframe (e.g., 4H or 1D) based on your trading strategy.
This script can be used for intraday trading, swing trading, or position trading depending on your preferred timeframes.
Example of Signal Interpretation:
Buy Signal:
If all conditions are met (e.g., RSI is under 30, Stochastic RSI is under 0.2, MACD is bullish, and price is below the lower Bollinger Band on both the 4-hour and daily charts), the script will show a green "BUY" label below the price bar.
Sell Signal:
If all conditions are met (e.g., RSI is over 70, Stochastic RSI is over 0.8, MACD is bearish, and price is above the upper Bollinger Band on both timeframes), the script will show a red "SELL" label above the price bar.
This combination of indicators offers a multi-layered confirmation approach, which aims to reduce the risk of false signals and increase the reliability of your trading decisions.
Weekly Covered Calls Strategy with IV & Delta LogicWhat Does the Indicator Do?
this is interactive you must use it with your options chain to input data based on the contract you want to trade.
Visualize three strike price levels for covered calls based on:
Aggressive (closest to price, riskier).
Moderate (mid-range, balanced).
Low Delta (farthest, safer).
Incorporate Implied Volatility (IV) from the options chain to make strike predictions more realistic and aligned with market sentiment. Adjust the risk tolerance by modifying Delta inputs and IV values. Risk is defined for example .30 delta means 30% chance of your shares being assigned. If you want to generate steady income with your shares you might want to lower the risk of them being assigned to .05 or 5% etc.
How to Use the Indicator with the Options Chain
Start with the Options Chain:
Look for the following data points from your options chain:
Implied Volatility (IV Mid): Average IV for a particular strike price.
Delta:
~0.30 Delta: Closest strike (Aggressive).
~0.15–0.20 Delta: Mid-range strike (Moderate).
~0.05–0.10 Delta: Far OTM, safer (Low Delta).
Strike Price: Identify strike prices for the desired Deltas.
Open Interest: Check liquidity; higher OI ensures tighter spreads.
Input IV into the Indicator:
Enter the IV Mid value (e.g., 0.70 for 70%) from the options chain into the Implied Volatility field of the indicator.
Adjust Delta Inputs Based on Risk Tolerance:
Aggressive Delta: Increase if you want strikes closer to the current price (riskier, higher premium).
Default: 0.2 (20% chance of shares being assigned).
Moderate Delta: Balanced risk/reward.
Default: 0.12 (12%)
Low Delta: Decrease for safer, farther OTM strikes.
Default: 0.05 (5%)
Visualize the Chart:
Once inputs are updated:
Red Line: Aggressive Strike (closest, riskiest, higher premium).
Blue Line: Moderate Strike (mid-range).
Green Line: Low Delta Strike (farthest, safer).
Step-by-Step Workflow Example
Open the options chain and note:
Implied Volatility (IV Mid): Example 71.5% → input as 0.715.
Delta for desired strikes:
Aggressive: 0.30 Delta → Closest strike ~ $455.
Moderate: 0.15 Delta → Mid-range strike ~ $470.
Low Delta: 0.05 Delta → Farther strike ~ $505.
Open the indicator and adjust:
IV Mid: Enter 0.715.
Aggressive Delta: Leave at 0.12 (or adjust to bring strikes closer).
Moderate Delta: Leave at 0.18.
Low Delta: Adjust to 0.25 for safer, farther strikes.
View the chart:
Compare the indicator's strikes (red, blue, green) with actual options chain strikes.
Use the visualization to: Validate the risk/reward for each strike.
Align strikes with technical trends, support/resistance.
Adjusting Inputs Based on Risk Tolerance
Higher Risk: Increase Aggressive Delta (e.g., 0.15) for closer strikes.
Use higher IV values for volatile stocks.
Moderate Risk: Use default values (0.12–0.18 Delta).
Balance premiums and probability.
Lower Risk: Increase Low Delta (e.g., 0.30) for farther, safer strikes.
Focus on higher IV stocks with good open interest.
Key Benefits
Simplifies Strike Selection: Visualizes the three risk levels directly on the chart.
Aligns with Market Sentiment: Incorporates IV for realistic forecasts.
Customizable for Risk: Adjust inputs to match personal risk tolerance.
By combining the options chain (IV, Delta, and liquidity) with the technical chart, you get a powerful, visually intuitive tool for covered call strategies.
Order BlockOverview:
The Order Block Indicator is designed to help traders identify key bullish and bearish order blocks on their charts. Order blocks are significant price zones where institutional activity may have occurred, often leading to strong reversals or continuations. This indicator visually highlights these blocks and provides alerts for potential trade opportunities.
Key Features
Bullish Order Blocks (Yellow):
Identifies bullish structures where price signals a potential upward movement.
Highlighted in bright yellow to stand out on your chart.
Bearish Order Blocks (Pink):
Detects bearish structures where price suggests a possible downward movement.
Highlighted in pink for easy identification.
Alerts for Order Blocks:
Sends a notification whenever a bullish or bearish order block is detected.
Keeps you informed of key market zones even when you’re away from the screen.
How It Works
Bullish Order Block Criteria
The last candle (close ) is bullish (close > open).
The second last candle (close ) is bearish (close < open).
The bullish candle’s close is above the high of the bearish candle.
The bearish candle’s close is above the low of the third last candle.
The bearish candle’s low is below the low of the third last candle.
The current candle’s low is above the bearish candle’s high.
These conditions combine to identify strong bullish zones.
Bearish Order Block Criteria
The last candle (close ) is bearish (close < open).
The second last candle (close ) is bullish (close > open).
The bearish candle’s close is below the low of the bullish candle.
The third last candle’s high is above the bullish candle’s close.
The bullish candle’s high is above the high of the third last candle.
The current candle’s high is below the bullish candle’s low.
This logic highlights potential bearish zones.
How to Use It
Add the Indicator to Your Chart:
Use it on any timeframe to spot bullish or bearish order blocks.
Visual Assistance:
Yellow bars indicate bullish order blocks.
Pink bars represent bearish order blocks.
Set Alerts:
Configure alerts to notify you when a bullish or bearish order block appears.
Customization
Colors: Easily change the colors for bullish and bearish order blocks.
Alerts: Adjust alert messages to suit your trading preferences.
Disclaimer:
This indicator is a technical analysis tool and should be used alongside other strategies and market analysis. It does not guarantee profits and carries trading risks. Always trade responsibly.
Support/Resistance Strength [UAlgo]The Support/Resistance Strength indicator is a tool designed for traders seeking a precise understanding of key support and resistance levels in the market. This tool dynamically identifies and visualizes support and resistance zones based on pivot points and strength criteria, providing traders with actionable insights for better decision-making.
By incorporating features such as ATR-based or percentage-based channel calculations, customizable strength thresholds, and intuitive visualization of key levels, the indicator caters to traders of various skill levels and strategies. It also adapts dynamically to market conditions, allowing users to identify frequently tested zones with minimal manual input.
🔶 Key Features
Dynamic Support and Resistance Zones
Automatically detects significant support and resistance levels using pivot high and low calculations.
Offers ATR-based or percentage-based channel customization to cater to diverse trading styles.
Customizable Parameters
Lookback period for pivot calculations, strength threshold, and maximum stored pivots are fully adjustable.
Display options for showing specific numbers of recent support/resistance lines.
Intuitive Visualization
Highlights key support and resistance levels with color-coded lines and labels.
Includes percentage deviation from the current price for quick assessment.
Interactive Updates
Continuously updates support and resistance levels to reflect changing market dynamics.
Displays pivot points visually for enhanced clarity.
Can be used effectively on various timeframes, from intraday to daily and weekly charts.
🔶 Interpreting the Indicator
Identifying Key Levels
Support levels are indicated by green (lime) lines and resistance levels by red lines. The transparency of colors is adjustable for visual preference.
Labels display the exact price level and the percentage difference from the current price.
Strength Threshold
The "Minimum S/R Strength" parameter defines how frequently a level must be tested to be considered significant.
Higher strength values indicate zones that have been tested more frequently, suggesting stronger support or resistance.
Pivot Points
The indicator marks pivot high and low points on the chart to provide a visual representation of the calculated levels.
Dynamic Updates
The indicator adapts to the most recent price action. If the price moves above a resistance level or below a support level, the color of the lines and labels will dynamically change to reflect the current price positioning.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Enigma UnlockedENIGMA Indicator: A Comprehensive Market Bias & Success Tracker
The ENIGMA Indicator is a powerful tool designed for traders who aim to identify market bias, track price movements, and evaluate trade performance using multiple timeframes. It combines multiple indicators and advanced logic to provide real-time insights into market trends, helping traders make more informed decisions.
Key Features
1. Multi-Timeframe Bias Calculation:
The ENIGMA Indicator tracks the market bias across multiple timeframes—Daily (D), 4-Hour (H4), 1-Hour (H1), 30-Minute (30M), 15-Minute (15M), 5-Minute (5M), and 1-Minute (1M).
How the Bias is Created:
The Bias is a key feature of the ENIGMA Indicator and is determined by comparing the current price with previous price levels for each timeframe.
- Bullish Bias (1): The market is considered **bullish** if the **current closing price** is higher than the **previous timeframe’s high**. This suggests that the market is trending upwards, and buyers are in control.
- Bearish Bias (-1): The market is considered **bearish** if the **current closing price** is lower than the **previous timeframe’s low**. This suggests that the market is trending downwards, and sellers are in control.
- Neutral Bias (0): The market is considered **neutral** if the price is between the **previous high** and **previous low**, indicating indecision or a range-bound market.
This bias calculation is performed independently for each timeframe. The **Bias** for each timeframe is then displayed in the **Bias Table** on your chart, providing a clear view of market direction across multiple timeframes.
2. **Customizable Table Display:**
- The indicator provides a table that displays the bias for each selected timeframe, clearly marking whether the market is **Bullish**, **Bearish**, or **Neutral**.
- Users can choose where to place the table on the chart: top-left, top-right, bottom-left, bottom-right, or center positions, allowing for easy and personalized chart management.
3. **Win/Loss Tracker:**
- The table also tracks the **success rate** of **buy** and **sell** trades based on price retests of key bias levels.
- For each period (Day, Week, Month), it tracks how often the price has moved in the direction of the initial bias, counting **Buy Wins**, **Sell Wins**, **Buy Losses**, and **Sell Losses**.
- This helps traders assess the effectiveness of the market bias over time and adjust their strategies accordingly.
#### **How the Success Calculation Determines the Success Rate:**
The **Success Calculation** is designed to track how often the price follows the direction of the market bias. It does this by evaluating how the price retests key levels associated with the identified market bias:
1. **Buy Success Calculation**:
- The success of a **Buy Trade** is determined when the price breaks above the **previous high** after a **bullish bias** has been identified.
- If the price continues to move higher (i.e., makes a new high) after breaking the previous high, the **buy trade is considered successful**.
- The indicator tracks how many times this condition is met and counts it as a **Buy Win**.
2. **Sell Success Calculation**:
- The success of a **Sell Trade** is determined when the price breaks below the **previous low** after a **bearish bias** has been identified.
- If the price continues to move lower (i.e., makes a new low) after breaking the previous low, the **sell trade is considered successful**.
- The indicator tracks how many times this condition is met and counts it as a **Sell Win**.
3. **Failure Calculations**:
- If the price does not move as expected (i.e., it does not continue in the direction of the identified bias), the trade is considered a **loss** and is tracked as **Buy Loss** or **Sell Loss**, depending on whether it was a bullish or bearish trade.
The ENIGMA Indicator keeps a running tally of **Buy Wins**, **Sell Wins**, **Buy Losses**, and **Sell Losses** over a set period (which can be customized to Days, Weeks, or Months). These statistics are updated dynamically in the **Bias Table**, allowing you to track your success rate in real-time and gain insights into the effectiveness of the market bias.
#### **Customizable Period Tracking:**
- The ENIGMA Indicator allows you to set custom tracking periods (e.g., 30 days, 2 weeks, etc.). The performance metrics reset after each tracking period, helping you monitor your success in different market conditions.
5. **Interactive Settings:**
- **Lookback Period**: Define how many bars the indicator should consider for bias calculations.
- **Success Tracking**: Set the number of candles to track for calculating the win/loss performance.
- **Time Threshold**: Set a time threshold to help define the period during which price retests are considered valid.
- **Info Tooltip**: You can enable the information tool in the settings to view detailed explanations of how wins and losses are calculated, ensuring you understand how the indicator works and how the results are derived.
#### **How to Use the ENIGMA Indicator:**
1. **Install the Indicator**:
- Add the ENIGMA Indicator to your chart. It will automatically calculate and display the bias for multiple timeframes.
2. **Interpret the Bias Table**:
- The bias table will show whether the market is **Bullish**, **Bearish**, or **Neutral** across different timeframes.
- Look for alignment between the timeframes—when multiple timeframes show the same bias, it may indicate a stronger trend.
3. **Use the Win/Loss Tracker**:
- Track how well your trades align with the bias using the **Win/Loss Tracker**. This helps you refine your strategy by understanding which timeframes and biases lead to higher success rates.
- For example, if you see a high number of **Buy Wins** and a low number of **Sell Wins**, you may decide to focus more on buying during bullish trends and avoid selling during bearish retracements.
4. **Track Your Period Performance**:
- The indicator will automatically track your performance over the set period (Days, Weeks, Months). Use this data to adjust your approach and evaluate the effectiveness of your trading strategy.
5. **Position the Table**:
- Customize the placement of the table on your chart based on your preferences. You can choose from options like **Top Left**, **Top Right**, **Bottom Left**, **Bottom Right**, or **Center** to keep the chart uncluttered.
6. **Adjust Settings**:
- Modify the indicator settings according to your trading style. You can adjust the **Lookback Period**, **Number of Candles to Track**, and **Time Threshold** to match the pace of your trading.
7. **Use the Info Tooltip**:
- Enable the **Info Tool** in the settings to understand how the Buy/Sell Wins and Losses are calculated. The tooltip provides a breakdown of how the indicator tracks price movements and calculates the success rate.
**Conclusion:**
The **ENIGMA Indicator** is designed to help traders make informed decisions by providing a clear view of the market bias and performance data. With the ability to track bias across multiple timeframes and evaluate your trading success, it can be a powerful tool for refining your trading strategies.
Whether you're looking to focus on a single timeframe or analyze multiple timeframes for a stronger bias, the ENIGMA Indicator adapts to your needs, providing both real-time market insights and performance feedback.
Advanced Pattern Detector**Script Overview**
**Indicator Name:** Advanced Pattern Detector
**Pine Script Version:** v5
**Indicator Type:** Overlaid on the chart (overlay=true)
**Main Features:**
- Detection and visualization of various technical patterns.
- Generation of BUY and SELL signals based on detected patterns.
- Display of Fibonacci levels to identify potential support and resistance levels.
- Ability to enable or disable each pattern through the indicator settings.
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**Indicator Settings**
**Switches to Enable/Disable Patterns**
At the top of the indicator, there are parameters that allow the user to select which patterns will be displayed on the chart:
- Three Drives
- Rounding Top
- Rounding Bottom
- ZigZag Pattern
- Inverse Head and Shoulders
- Fibonacci Retracement
**Parameters for ZigZag**
Settings are also available for the ZigZag pattern, such as the depth of peak and trough detection, allowing the user to adjust the indicator's sensitivity to price changes.
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**Pattern Detection**
Each pattern is implemented with its own logic, which checks specific conditions on the current bar (candle). Below are the main patterns:
1. **Three Drives**
- **Description:** This pattern consists of three consecutive price movements in one direction (up or down). It can signal the continuation of the current trend or its reversal.
- **How It Works:**
- **Upward Drive:** The indicator checks that the closing price of each subsequent candle is higher than the previous one for three bars.
- **Downward Drive:** The indicator checks that the closing price of each subsequent candle is lower than the previous one for three bars.
2. **Rounding Top**
- **Description:** A pattern representing a smooth decrease in maximum prices over several bars, which may indicate a potential downward trend reversal.
- **How It Works:**
- The indicator checks that the maximum prices of the last five bars are gradually decreasing, and the current bar shows a decrease in the maximum price.
3. **Rounding Bottom**
- **Description:** A pattern characterized by a smooth increase in minimum prices over several bars, signaling a possible upward trend reversal.
- **How It Works:**
- The indicator checks that the minimum prices of the last five bars are gradually increasing, and the current bar shows an increase in the minimum price.
4. **ZigZag Pattern**
- **Description:** Used to identify corrective movements on the chart. The pattern shows peak and trough points connected by lines, helping to visualize the main price movement.
- **How It Works:**
- The indicator uses a function to determine local maxima and minima based on the specified depth.
- Detected peaks and troughs are connected by lines to create a visual zigzag structure.
5. **Inverse Head and Shoulders**
- **Description:** An inverted head and shoulders formation signals a possible reversal of a downward trend to an upward one.
- **How It Works:**
- The indicator looks for three local minima: the left shoulder, the head (the lowest minimum), and the right shoulder.
- It checks that the left and right shoulders are approximately at the same level and below the head.
6. **Fibonacci Retracement Levels**
- **Description:** Automatically builds key Fibonacci levels based on the maximum and minimum prices over the last 50 bars. These levels are often used as potential support and resistance levels.
- **How It Works:**
- Daily, the minimum and maximum prices over the last 50 bars are calculated.
- Based on these values, Fibonacci levels are drawn: 100%, 23.6%, 38.2%, 50%, 61.8%, and 0%.
- Old levels are removed when a new day begins to keep the chart clean and up-to-date.
---
**Generation of Buy and Sell Signals**
The indicator combines the results of detected patterns to generate trading signals:
- **Buy Signals (BUY):**
- Rounding Bottom
- Three Drives Up
- Inverse Head and Shoulders
- ZigZag Low
- **Sell Signals (SELL):**
- Rounding Top
- Three Drives Down
- Inverse Head and Shoulders
- ZigZag High
**How It Works:**
- If one or more buy conditions are met, a "BUY" label is displayed below the corresponding bar on the chart.
- If one or more sell conditions are met, a "SELL" label is displayed above the corresponding bar on the chart.
---
**Visualization of Patterns on the Chart**
Each detected pattern is visualized using various graphical elements, allowing traders to easily identify them on the chart:
- **Three Drives Up:** Green upward triangle below the bar.
- **Three Drives Down:** Red downward triangle above the bar.
- **Rounding Top:** Orange "RT" label above the bar.
- **Rounding Bottom:** Blue "RB" label below the bar.
- **Inverse Head and Shoulders:** Turquoise "iH&S" label below the bar.
- **ZigZag High/Low:** Purple circles at the peaks and troughs of the zigzag.
---
**Displaying Fibonacci Levels**
Fibonacci levels are displayed as horizontal lines on the chart with corresponding labels. These levels help traders determine potential entry and exit points, as well as support and resistance levels.
---
**Drawing ZigZag Lines**
ZigZag lines connect the detected peaks and troughs, visualizing corrective movements. To avoid cluttering the chart, the number of lines is limited, and old lines are automatically removed as new ones are added.
Sash Trending Suite NEWWhy
The " Sash Trending Suite " (STS) indicator simplifies trading by highlighting market trends and potential reversals. In a world of complex charts and overwhelming data, STS helps traders quickly understand market direction and make informed decisions.
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How and What
STS combines key technical tools into one easy-to-read indicator, directly showing important signals on the chart:
Macro Trend Detection
How : Uses two EMAs (fast and slow) and the ADX to identify strong bullish or bearish trends.
What to Look For :
Bar Colors :
Green Bars : Indicate a strong upward (bullish) trend.
Red Bars : Indicate a strong downward (bearish) trend.
Benefit : Quickly see the overall market direction.
Alpha Track Line
How : An adaptive EMA that acts as a dynamic support or resistance line.
What to Look For :
Line Colors :
Green Line : Price is above the line (bullish momentum).
Red Line : Price is below the line (bearish momentum).
Benefit : Visualize momentum shifts easily.
Reversal Signals
How : Combines RSI with price action to spot potential market reversals.
What to Look For :
"R" Labels :
Turquoise "R" Below Bar : Potential bullish reversal.
Amber "R" Above Bar : Potential bearish reversal.
Benefit : Identify possible turning points for entry or exit.
Micro Trend Detection
How : Uses shorter EMAs to catch minor trend changes.
What to Look For :
Small Circles :
Green Circle Below Bar : Micro bullish signal.
Red Circle Above Bar : Micro bearish signal.
Benefit : Spot short-term trend shifts promptly.
Alerts
How : Built-in alerts notify you of key events.
What to Expect :
Trend Changes : Alerts when a new bullish or bearish trend starts.
Reversals : Alerts for potential bullish or bearish reversals.
Benefit : Stay updated without constantly watching the chart.
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Summary
The "Sash Trending Suite" provides:
Simplified Analysis : One indicator shows trend direction, momentum, reversals, and micro trends.
Clear Visuals : Color-coded bars and symbols make interpretation easy.
Timely Alerts : Know about important market changes instantly.
By focusing on essential signals and displaying them clearly, STS helps traders navigate the market with confidence and simplicity.
STANDARD DEVIATION INDICATOR BY WISE TRADERWISE TRADER STANDARD DEVIATION SETUP: The Ultimate Volatility and Trend Analysis Tool
Unlock the power of STANDARD DEVIATIONS like never before with the this indicator, a versatile and comprehensive tool designed for traders who seek deeper insights into market volatility, trend strength, and price action. This advanced indicator simultaneously plots three sets of customizable Deviations, each with unique settings for moving average types, standard deviations, and periods. Whether you’re a swing trader, day trader, or long-term investor, the STANDARD DEVIATION indicator provides a dynamic way to spot potential reversals, breakouts, and trend-following opportunities.
Key Features:
STANDARD DEVIATIONS Configuration : Monitor three different Bollinger Bands at the same time, allowing for multi-timeframe analysis within a single chart.
Customizable Moving Average Types: Choose from SMA, EMA, SMMA (RMA), WMA, and VWMA to calculate the basis of each band according to your preferred method.
Dynamic Standard Deviations: Set different standard deviation multipliers for each band to fine-tune sensitivity for various market conditions.
Visual Clarity: Color-coded bands with adjustable thicknesses provide a clear view of upper and lower boundaries, along with fill backgrounds to highlight price ranges effectively.
Enhanced Trend Detection: Identify potential trend continuation, consolidation, or reversal zones based on the position and interaction of price with the three bands.
Offset Adjustment: Shift the bands forward or backward to analyze future or past price movements more effectively.
Why Use Triple STANDARD DEVIATIONS ?
STANDARD DEVIATIONS are a popular choice among traders for measuring volatility and anticipating potential price movements. This indicator takes STANDARD DEVIATIONS to the next level by allowing you to customize and analyze three distinct bands simultaneously, providing an unparalleled view of market dynamics. Use it to:
Spot Volatility Expansion and Contraction: Track periods of high and low volatility as prices move toward or away from the bands.
Identify Overbought or Oversold Conditions: Monitor when prices reach extreme levels compared to historical volatility to gauge potential reversal points.
Validate Breakouts: Confirm the strength of a breakout when prices move beyond the outer bands.
Optimize Risk Management: Enhance your strategy's risk-reward ratio by dynamically adjusting stop-loss and take-profit levels based on band positions.
Ideal For:
Forex, Stocks, Cryptocurrencies, and Commodities Traders looking to enhance their technical analysis.
Scalpers and Day Traders who need rapid insights into market conditions.
Swing Traders and Long-Term Investors seeking to confirm entry and exit points.
Trend Followers and Mean Reversion Traders interested in combining both strategies for maximum profitability.
Harness the full potential of STANDARD DEVIATIONS with this multi-dimensional approach. The "STANDARD DEVIATIONS " indicator by WISE TRADER will become an essential part of your trading arsenal, helping you make more informed decisions, reduce risks, and seize profitable opportunities.
Who is WISE TRADER ?
Wise Trader is a highly skilled trader who launched his channel in 2020 during the COVID-19 pandemic, quickly building a loyal following. With thousands of paid subscribed members and over 70,000 YouTube subscribers, Wise Trader has become a trusted authority in the trading world. He is known for his ability to navigate significant events, such as the Indian elections and stock market crashes, providing his audience with valuable insights into market movements and volatility. With a deep understanding of macroeconomics and its correlation to global stock markets, Wise Trader shares informed strategies that help traders make better decisions. His content covers technical analysis, trading setups, economic indicators, and market trends, offering a comprehensive approach to understanding financial markets. The channel serves as a go-to resource for traders who want to enhance their skills and stay informed about key market developments.
FiboTrace.V33FiboTrace.V33 - Advanced Fibonacci Retracement Indicator is a powerful and visually intuitive Fibonacci retracement indicator designed to help traders identify key support and resistance levels across multiple timeframes. Whether you’re a day trader, swing trader, or long-term investor, FiboTrace.V33 provides the essential tools needed to spot potential price reversals and continuations with precision.
Key Features:
• Dynamic Fibonacci Levels: Automatically plots the most relevant Fibonacci retracement levels based on recent swing highs and lows, ensuring you always have the most accurate and up-to-date levels on your chart.
• Gradient Color Zones: Easily distinguish between different Fibonacci levels with visually appealing gradient color fills. These zones help you quickly identify key areas of price interaction, making your analysis more efficient.
• Customizable Levels: Tailor FiboTrace.V33 to your trading style by adjusting the Fibonacci levels and colors to match your preferences. This flexibility allows you to focus on the levels most relevant to your strategy.
• Multi-Timeframe Versatility: Works seamlessly across all timeframes, from 1-minute charts for day traders to weekly and monthly charts for long-term investors. The indicator adapts to your trading horizon, providing reliable signals in any market environment.
• Confluence Alerts: Receive alerts when price enters zones where multiple Fibonacci levels overlap, indicating strong support or resistance. This feature helps you catch high-probability trade setups without constantly monitoring the charts.
How to Use:
• Identify Entry and Exit Points: Use the plotted Fibonacci levels to determine potential entry and exit points. Price retracements to key Fibonacci levels can signal opportunities to enter trades in the direction of the prevailing trend.
• Spot Reversals and Continuations: Watch for price action around the gradient color zones. A bounce off a Fibonacci level may indicate a trend continuation, while a break could signal a potential reversal.
• Combine with Other Indicators: For best results, consider using FiboTrace.V33 in conjunction with other technical indicators, such as moving averages, RSI, or MACD, to confirm signals and enhance your trading strategy.
Timeframe Recommendations:
• Shorter Timeframes (1-minute to 1-hour): Ideal for quick, intraday trades, though signals might be more prone to noise due to rapid market fluctuations.
• Medium Timeframes (4-hour to daily): Perfect for swing trading, offering more reliable Fibonacci levels that capture broader market trends.
• Longer Timeframes (weekly to monthly): Best for long-term investors, where Fibonacci levels act as strong support and resistance based on significant market moves.
• General Tip: Fibonacci retracement levels are more reliable on higher timeframes, but combining them with other indicators like moving averages or RSI can enhance signal accuracy across any timeframe.
Why FiboTrace.V33?
FiboTrace.V33 is more than just a Fibonacci retracement tool—it’s an essential part of any trader’s toolkit. Its intuitive design and advanced features help you stay ahead of the market, making it easier to identify high-probability trading opportunities and manage risk effectively.
EagleVision.V33 - Inside Pin Bar EagleVision.V33 is a specialized indicator designed for traders who focus on price action. It detects and highlights the Inside Pin Bar candle pattern, a key signal that can indicate potential market reversals or trend continuations. This tool is invaluable for traders who rely on precise candlestick patterns to make data-driven decisions.
Features:
• Customizable Pattern Highlighting: EagleVision.V33 allows traders to choose custom colors to highlight Inside Pin Bar patterns directly on the chart. This makes identifying critical trading signals straightforward, even in busy market conditions.
• Pin Bar Candle Customization: Beyond just highlighting, the indicator enables users to change the color of the detected pin bar itself, ensuring that crucial patterns are immediately visible and easy to track.
• Versatile Timeframe Application: The indicator can be applied across various timeframes, from intraday (1 minute, 5 minutes) to longer-term charts (daily, weekly). Users can easily switch between timeframes within the settings, making it adaptable to different trading strategies.
• Enhanced Visual Clarity with Background Highlighting: For traders who prefer additional emphasis, EagleVision.V33 offers an option to apply a background color that highlights the entire region where the Inside Pin Bar pattern is detected.
How It Works:
• Inside Bar Identification: The indicator first identifies an Inside Bar, where a candle’s high and low fall within the range of the preceding candle (the mother bar). This is a foundational pattern in price action trading.
• Pin Bar Detection: It then checks if the candle is a Pin Bar, characterized by a small body and a prominent wick (either upper or lower), which typically signals potential market turning points.
• Pattern Highlighting & Visualization: Upon detecting both conditions (Inside Bar and Pin Bar), EagleVision.V33 highlights the pattern using customizable shapes and colors, and optionally applies a background shade to further enhance visibility.
Use Cases:
• Reversals at Key Levels: The Inside Pin Bar pattern often appears at significant support or resistance levels, signaling potential reversals. EagleVision.V33 helps traders spot these opportunities early.
• Trend Continuations: In trending markets, this pattern can confirm the continuation of a trend, providing traders with the confidence to hold positions or enter new ones.
Customization Options:
• Pattern Highlight Color: Choose a distinct color for the label or shape that marks the Inside Pin Bar pattern, making it stand out against other chart elements.
• Pin Bar Candle Color: Customize the color of the Pin Bar itself, ensuring that it is immediately recognizable on the chart.
• Background Highlighting: Optionally apply a background color to the chart area where the pattern is detected, further enhancing visual clarity and making it easier to spot potential trading opportunities.
Why EagleVision.V33 Stands Out:
EagleVision.V33 is not just another pattern detection tool; it’s engineered for precision and clarity, with highly customizable features that cater to the unique needs of price action traders. By combining both Inside Bar and Pin Bar detection, it offers a powerful edge, providing traders with actionable insights directly on their charts.
Fibonacci Retracements & Trend Following Strategy V2This Pine Script strategy generates trading signals using Fibonacci levels and trend-following indicators.
1. Strategy Summary
This strategy analyzes price movements using a combination of Fibonacci levels and trend-following indicators, providing potential trading signals. The strategy includes Fibonacci levels as well as EMA (Exponential Moving Average) and ADX (Average Directional Index) indicators.
2. Indicators and Parameters
Fibonacci Levels
Fibonacci Level 1, Level 2, Level 3, Level 4: Used as Fibonacci retracement levels. These levels are typically set at 0.236, 0.382, 0.618, and 0.786. Users can adjust these values according to their preferences.
Trend-Following Indicator
Trend Length: The period for calculating the EMA used as the trend-following indicator. For example, if set to 20, the EMA will be calculated over 20 periods.
ADX (Average Directional Index)
ADX Length: The period for calculating the ADX. ADX measures the strength of the price trend and is usually set to 14 periods.
ADX Threshold: A threshold value for the ADX. This value determines when trading signals will be activated.
3. Usage Steps
Displaying the Indicator on the Chart:
On the TradingView platform, paste the code into the Pine Editor and click the "Add to Chart" button to add it to the chart.
Analyzing the Indicators:
Fibonacci Levels: Show retracement levels of price movements. When the price reaches one of these levels, potential reversals may occur.
Trend-Following Indicator: EMAs determine the direction of the trend. Green EMA represents an uptrend, while red EMA represents a downtrend.
ADX: Measures the strength of the trend. When ADX surpasses the threshold value, it indicates a strong trend.
Trading Signals:
Long Signal: Generated when the price is above the second Fibonacci level and the trend is upward. Additionally, the ADX value must be above the set threshold.
Short Signal: Generated when the price is below the second Fibonacci level and the trend is downward. Additionally, the ADX value must be above the set threshold.
Target Prices:
Long Targets: Determines upward targets based on Fibonacci levels. These targets indicate expected prices if the price reverses from Fibonacci levels.
Short Targets: Determines downward targets based on Fibonacci levels. These targets indicate expected prices if the price reverses from Fibonacci levels.
4. Chart Displays
Trend Up (Green Line): Shows the rising EMA.
Trend Down (Red Line): Shows the falling EMA.
Fibonacci Levels (Blue Lines): Shows Fibonacci retracement levels.
Long Targets (Green Circles): Shows targets for long positions.
Short Targets (Red Circles): Shows targets for short positions.
Long Signal (Green Label): Buy signal.
Short Signal (Red Label): Sell signal.
5. Important Notes
Retracement and Target Levels: Fibonacci levels can act as potential retracement or support/resistance levels. However, they should always be used in conjunction with other technical analysis tools.
Trend and ADX: ADX is used to determine the strength of the trend. Be aware that when ADX is low, trends may be weak.
6. Example Scenarios
Example 1: If the trend is upward (green EMA) and the price is above the second Fibonacci level, you may receive a long position signal. If the ADX value is above the threshold, the signal may be stronger.
Example 2: If the trend is downward (red EMA) and the price is below the second Fibonacci level, you may receive a short position signal. If the ADX value is above the threshold, the signal may be stronger.
This updated version contains significant improvements in both technical aspects and user experience. Innovations such as ADX calculations and dynamic Fibonacci levels make the strategy more robust and flexible. The code's readability and comprehensibility have been enhanced, and errors have been corrected.
This guide will help you understand the basic operation of the strategy. It is always recommended to conduct your own research and test the strategy before using it.
GOOD LUCK. // halilvarol
Gap Percentage Highlighter (1Day)b]🇬🇧 ENGLISH
The "Gap Percentage Highlighter" script is a useful tool for traders who want to visually highlight and analyze price gaps on their charts.
Features:
Identification of Price Gaps (Gaps):
The script automatically highlights candles where the opening price significantly differs from the previous day's closing price.
Percentage Display of the Gap:
The percentage change between the closing price and the opening price is displayed directly on the chart.
Customizable Gap Size:
Users can set the minimum size of the price gap in percentage terms through a simple input field, determining when the script marks a gap as significant.
Visual Highlighting:
Gap-ups (positive gaps) are highlighted in green, and gap-downs (negative gaps) are highlighted in red, making them easy to identify.
Use Case:
This script is ideal for traders who utilize gaps in their analyses to identify potential market movements. It allows for quick and visual identification of significant price gaps directly on the chart and offers the flexibility to adjust the definition of "significant" to match individual needs.
Disclaimer:
This script is for educational purposes only. Trading involves risks and is not suitable for every investor.
(c) BS IMPACT SCALE GmbH
🇩🇪 GERMAN
Das "Gap Percentage Highlighter" Skript ist ein nützliches Tool für Trader, die Kurslücken (Gaps) auf ihren Charts visuell hervorheben und analysieren möchten.
Funktionen:
Identifizierung von Kurslücken (Gaps):
Das Skript hebt automatisch Kerzen hervor, bei denen der Eröffnungskurs vom Schlusskurs der vorherigen Kerze auf Tagesbasis signifikant abweicht.
Prozentuale Anzeige der Kurslücke:
Die prozentuale Veränderung zwischen Schlusskurs und Eröffnungskurs wird direkt auf dem Chart angezeigt.
Anpassbare Gap-Größe:
Nutzer können über ein einfaches Eingabefeld die minimale Größe der Kurslücke in Prozent festlegen, ab der das Skript die Lücke als relevant markiert.
Visuelle Hervorhebung:
Gap-Ups (positive Lücken) werden in Grün und Gap-Downs (negative Lücken) in Rot hinterlegt, sodass sie leicht identifiziert werden können.
Anwendungsbereich:
Dieses Skript ist ideal für Trader, die Gaps in ihren Analysen nutzen, um potenzielle Marktbewegungen zu identifizieren. Es ermöglicht eine schnelle und visuelle Erkennung von signifikanten Kurslücken direkt auf dem Chart und bietet die Flexibilität, die Definition von "signifikant" an die eigenen Bedürfnisse anzupassen.
Haftungsausschluss:
Dieses Skript dient ausschließlich zu Bildungszwecken. Trading beinhaltet Risiken und ist nicht für jeden Anleger geeignet.
(c) BS IMPACT SCALE GmbH
Combined Bitcoin CME Gaps and Weekend DaysScript Description: Combined Bitcoin CME Gaps and Weekend Days
Author: NeoButane (Bitcoin CME Gaps), JohnIsTrading (Day of Week),
Contributor : MikeTheRuleTA (Combined and optimizations)
This Pine Script indicator provides a combined view of Bitcoin CME gaps and customizable weekend day backgrounds on your chart. It’s designed to help traders visualize CME gaps along with customizable weekend day highlights.
Features:
CME Gaps Visualization:
Enable CME Gaps: Toggle the display of CME gaps on your chart.
Show Real vs. CME Price: Choose whether to display chart prices or CME prices for gap analysis.
Weekend Gaps Only: Filter to show only weekend gaps for a cleaner view (note: this may miss holidays).
CME Gaps Styling:
Weekend Background Highlighting:
Enable Weekend Background: Toggle the weekend day background highlight on or off.
Timezone Selection: Choose the relevant timezone for accurate weekend highlighting.
Customizable Weekend Colors: Define colors for Saturday and Sunday backgrounds.
How It Works:
CME Gaps: The script identifies gaps between CME and chart prices when the CME session is closed. It plots these gaps with customizable colors and line widths.
You can choose to see gaps based on CME prices or chart prices and decide whether to include only weekends.
Weekend Backgrounds: The script allows for background highlighting of weekends (Saturday and Sunday) on your chart. This can be enabled or disabled and customized with specific colors.
The timezone setting ensures that the background highlights match your local time settings.
Inputs:
CME Gaps Settings:
Enable CME Gaps
Show Real vs. CME Price
Only Show Weekend Gaps
CME Gaps Style:
Gap Fill Color Up
Gap Fill Color Down
Gap Fill Transparency
Weekend Settings:
Enable Weekend Background
Timezone
Enable Saturday
Saturday Color
Enable Sunday
Sunday Color
Usage:
Add this script to your TradingView chart to overlay CME gaps and weekend highlights.
Adjust the settings according to your preferences for a clearer view of gaps and customized weekend backgrounds.
This indicator provides a comprehensive tool for tracking CME gaps and understanding weekend market behaviors through visual enhancements on your trading charts.
CE_ZLSMA_5MIN_CANDLECHART-- Overview
The "CE_ZLSMA_5MIN_CANDLECHART" strategy, developed by DailyPanda, is a comprehensive trading strategy designed for analyzing trading on 5-minute candlestick charts.
It aims to use some indicators calculated from a Hekin Ashi chart, while running it on a normal candlestick chart, making sure that no price distortion affects the strategy results .
It also brings a feature to show, on the candlestick chart, where the entries would take place on the HA chart, to also be able to study the effect that the price distortion would make on your backtest.
-- Credit
The code in this script is based on open-source indicators originally written by veryfid and everget, I've made significant changes and additions to the scripts but all credit for the idea goes to them, I just built on top of it:
-- Key Features
It incorporate already built indicators (ZLSMA) and CandelierExit (CE)
-- Zero Lag Least Squares Moving Average (ZLSMA) - by veryfid
The ZLSMA is used to detect trends with minimal lag, improving the accuracy of entry and exit signals.
It incorporates a double-smoothed linear regression to minimize lag and enhance trend-following capabilities.
Buy signals are generated when the price closes above the ZLSMA together with the CE signal.
It is calculated based on the HA candlestick pattern.
-- Chandelier Exit (CE) - by everget
The Chandelier Exit indicator is used to dynamically manage stop-loss levels based on the Average True Range (ATR).
It ensures that stop-loss levels are adaptive to market volatility, protecting profits and limiting losses.
The ATR period and multiplier can be customized to fit different trading styles and risk tolerances.
It is calculated based on the HA candlestick pattern.
-- Heikin Ashi Candles
The strategy leverages Heikin Ashi candlesticks to be able identify trends more clearly and leverage this to stay on winning trades longer.
Traders can choose to display Heikin Ashi candlesticks and order fills on the chart for better visualization.
-- Risk Management
The strategy includes multiple risk management options to protect traders' capital.
Maximum intraday loss limit based on a percentage of equity.
Maximum stop-loss in points to filter out entries with excessive risk.
Daily profit target to stop trading once the goal is achieved.
Options to use fixed contract sizes or dynamically adjust based on a percentage of equity.
These features help traders manage risk and ensure sustainable trading practices.
Moving Averages
Several moving averages (EMA 9, EMA 20, EMA 50, EMA 72, EMA 200, SMA 200, and SMA 500) are plotted to provide additional context and trend confirmation.
A "Zone of Value" is highlighted between the EMA 200 and SMA 200 to identify potential support and resistance areas.
-- Customizable Inputs
The strategy includes various customizable inputs, allowing traders to tailor it to their specific needs.
Start and stop trading times.
Risk management parameters (e.g., maximum stop-loss, daily drawdown limit, and daily profit target).
Display options for Heikin Ashi candles and moving averages.
ZLSMA length and offset.
-- Usage
-- Setting Up the Strategy
Configure the start year for the strategy and the trading hours using the input fields. The first candle of each day will be filled black for easy identification, while candles that are outside the allowed time range will be filled purple.
Customize the risk management parameters to match your risk tolerance and trading style.
Enable or disable the display of Heikin Ashi candlesticks and moving averages as desired.
-- Interpreting Signals
Buy signals are indicated by a "Buy" label when the Heikin Ashi close price is above the ZLSMA and the Chandelier Exit indicates a long position.
The strategy will automatically enter a long position with a stop-loss level determined the swing low.
Positions are closed when the close price falls below the ZLSMA.
-- Risk Management
The strategy monitors the maximum intraday loss and stops trading if the loss limit is reached.
If enabled, also stops trading once the daily profit target is achieved, helping to lock in gains.
You have the option to filter operations based on a maximum accepted stop-loss level, based on your risk tolerance.
You can also operate with a fixed amount of contracts or dynamically adjust it based on your allowed risk per trade, ensuring optimal protection of capital.
-- Visual Aids
The strategy plots various moving averages to provide additional trend context.
The "Zone of Value" between the EMA 200 and SMA 200 highlights potential support and resistance areas.
Heikin Ashi candlesticks and order fills can be displayed to enhance the difference this strategy would take if you were to backtest it on a Heikin Ashi chart.
-- Table of results
This strategy also breaks down the results on a monthly basis for better understanding of your capital development along the way.
-- Conclusion
The "CE_ZLSMA_5MIN_CANDLECHART" strategy is a tool for intraday traders looking to understand and leaverage the Heikin Ashi chart while still using the normal candle chart. Traders can customize the strategy to fit their specific needs, making it a versatile addition to any trading toolkit.
BINANCE-BYBIT Cross Chart: Spot-Perpetual CorrelationName: "Binance-Bybit Cross Chart: Spot-Perpetual Correlation"
Category: Scalping, Trend Analysis
Timeframe: 1M, 5M, 30M, 1D (depending on the specific technique)
Technical analysis: This indicator facilitates a comparison between the price movements shown on the Binance spot chart and the Bybit perpetual chart, with the aim of discerning the correlation between the two charts and identifying the dominant market trends. It automatically generates the corresponding chart based on the ticker selected in the primary chart. When a Binance pair is selected in the main chart, the indicator replicates the Bybit perpetual chart for the same pair and timeframe, and vice versa, selecting the Bybit perpetual chart as the primary chart generates the Binance spot chart.
Suggested use: You can utilize this tool to conduct altcoin trading on Binance or Bybit, facilitating the comparison of price actions and real-time monitoring of trigger point sensitivity across both exchanges. We recommend prioritizing the Binance Spot chart in the main panel due to its typically longer historical data availability compared to Bybit.
The primary objective is to efficiently and automatically manage the following three aspects:
- Data history analysis for higher timeframes, leveraging the extensive historical data of the Binance spot market. Variations in indicators such as slow moving averages may arise due to differences in historical data between exchanges.
- Assessment of coin liquidity on both exchanges by observing candlestick consistency on smaller timeframes or the absence of gaps. In the crypto market, clean charts devoid of gaps indicate dominance and offer enhanced reliability.
- Identification of precise trigger point levels, including daily, previous day, or previous week highs and lows, which serve as sensitive areas for breakout or reversal operations.
All-Time High (ATH) and All-Time Low (ATL) levels may vary significantly across exchanges due to disparities in historical data series.
This tool empowers traders to make informed decisions by leveraging historical data, liquidity insights, and precise trigger point identification across Binance Spot and Bybit Perpetual market.
Configuration:
EMA length:
- EMA 1: Default 5, user configurable
- EMA 2: Default 10, user configurable
- EMA 3: Default 60, user configurable
- EMA 4: Default 223, user configurable
- Additional Average: Optional display of an additional average, such as a 20-period average.
Chart Elements:
- Session separator: Indicates the beginning of the current session (in blue)
- Background: Indicates an uptrend (60 > 223) with a green background and a downtrend (60 < 223) with a red background.
Instruments:
- EMA Daily: Shows daily averages on an intraday timeframe.
- EMA levels 1h - 30m: Shows the levels of the 1g-30m EMAs.
- EMA Levels Highest TF: Provides the option to select additional EMA levels from the major timeframes, customizable via the drop-down menu.
- "Hammer Detector: Marks hammers with a green triangle and inverted hammers with a red triangle on the chart
- "Azzeramento" signal on TF > 30m: Indicates a small candlestick on the EMA after a dump.
- "No Fomo" signal on TF < 30m: Indicates a hyperextended movement.
Trigger Points:
- Today's highs and lows: Shows the opening price of the day's candlestick, along with the day's highs and lows (high in purple, low in red, open in green).
- Yesterday's highs and lows: Displays the opening price of the daily candlestick, along with the previous day's highs and lows (high in yellow, low in red).
You can customize the colors in "Settings" > "Style".
It is best used with the Scalping The Bull indicator on the main panel.
Credits:
@tumiza999: for tests and suggestions.
Thanks for your attention, happy to support the TradingView community.
Renko Box Chart Overlay by BDThis is Renko chart overlay for Candles chart. You can use it to identify market direction and potential key points.
To use it simply select box size and any timeframe you want.
With this overlay you can be sure that you'll see every brick on a chart showing general market direction with all the details of a candles chart.
Alternatives Renko overlay charts:
If you don't have access to 1s timeframe or you don't want to use low TF here is the situation with built in Renko chart on 5m TF:
This Renko boxes are linked to chart by time(candle) and price. It will draw a box even if price didn't close above(or below) of box level:
But be careful when setting box size too small because it will produce bad results:
The issue is known and I'll work on fixing it in next update, for now use box size at least the size of a body of a candle, after all renko is for general market movement and not for marking up every tick.
Let me know if you want to see any additions.
Candles In Row (Expo)█ Overview
The Candles In Row (Expo) indicator is a powerful tool designed to track and visualize sequences of consecutive candlesticks in a price chart. Whether you're looking to gauge momentum or determine the prevailing trend, this indicator offers versatile functionality tailored to the needs of active traders. The Candles In Row indicator can be an integral part of a multi-timeframe trading strategy, allowing traders to understand market momentum, and set trading bias. By recognizing the patterns and likelihood of future price movements, traders can make more informed decisions and align their trades with the overall market direction.
█ How to use
The indicator enhances traders' understanding of the consecutive candle patterns, helping them to uncover trends and momentum. Consecutive candles in the same direction may indicate a strong trend. The Candles In Row indicator can be an essential tool for traders employing a multiple timeframes strategy.
Analyzing a Higher Timeframe:
Understanding Momentum: By analyzing consecutive green or red candles in a higher timeframe, traders can identify the prevailing momentum in the market. A series of green candles would suggest an upward trend, while a series of red candles would indicate a downward trend.
Predicting Next Candle: The indicator's predictive feature calculates the likelihood of the next candle being green or red based on historical patterns. This probability helps traders gauge the potential continuation of the trend.
Setting the Trading Bias: If the likelihood of the next candle being green is high, the trader may decide to focus on long (buy) opportunities. Conversely, if the likelihood of the next candle being red is high, the trader may look for short (sell) opportunities.
In this example, we are using the Heikin Ashi candles.
Moving to a Lower Timeframe:
Finding Entry Points: Once the trading bias is set based on the higher timeframe analysis, traders can switch to a lower timeframe to look for entry points in the direction of the bias. For example, if the higher timeframe suggests a high likelihood of a green candle, traders may look for buy opportunities in the lower timeframe.
Combining Timeframes for a Comprehensive Strategy:
Confirmation and Alignment: By analyzing the higher timeframe and confirming the direction in the lower timeframe, traders can ensure that they are trading in alignment with the broader trend.
Avoiding False Signals: By using a higher timeframe to set the trading bias and a lower timeframe to find entries, traders can avoid false signals and whipsaws that might be present in a single timeframe analysis.
█ Settings
Price Input Selection: Choose between regular open and close prices or Heikin Ashi candles as the basis for calculation.
Data Window Control: Decide between displaying the full data window or only the active data. You can also enable a counter that keeps track of the number of candles.
Alert Configuration: Set the desired number and color of consecutive candles that must occur in a row to trigger an alert.
Table Display Customization: Customize the location and size of the display table according to your preferences.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Opening Range Gap + Std Dev [starclique]The ICT Opening Range Gap is a concept taught by Inner Circle Trader and is discussed in the videos: 'One Trading Setup For Life' and 2023 ICT Mentorship - Opening Range Gap Repricing Macro
ORGs, or Opening Range Gaps, are gaps that form only on the Regular Trading Hours chart.
The Regular Trading Hours gap occurs between 16:15 PM - 9:29 AM EST (UTC-4)
These times are considered overnight trading, so it is useful to filter the PA (price action) formed there.
The RTH option is only available for futures contracts and continuous futures from CME Group.
To change your chart to RTH, first things first, make sure you’re looking at a futures contract for an asset class, then on the bottom right of your chart, you’ll see ETH (by default) - Click on that, and change it to RTH.
Now your charts are filtering the price action that happened overnight.
To draw out your gap, use the Close of the 4:14 PM candle and the open of the 9:30 AM candle.
How is this concept useful?
Well, It can be used in many ways.
---
How To Use The ORG
One of the ways you can use the opening range gap is simply as support and resistance
If we extend out the ORG from the example above, we can see that there is a clean retest of the opening range gap high after breaking structure to the upside and showing acceptance outside of the gap after consolidating within it.
The ORG High (4:14 Candle Close in this case) was used as support.
We then see an expansion to the upside.
Another way to implement the ORG is by using it as a draw on liquidity (magnet for price)
In this example, if we looked to the left, there was a huge ORG to the downside, leaving a massive gap.
The market will want to rebalance that gap during the regular trading hours.
The market rallies higher, rejects, comes down to clear the current days ORG low, then closes.
That is one example of how you can combine liquidity & ICT market structure concepts with Opening Range Gaps to create a story in the charts.
Now let’s discuss standard deviations.
---
Standard Deviations
Standard Deviations are essentially projection levels for ranges / POIs (Point of Interests)
By this I mean, if you have a range, and you would like to see where it could potentially expand to, you’d place your fibonacci retracement tool on and high and low of the range, then use extension levels to find specific price points where price might reject from.
Since 0 and 1 are your Range High and Low respectively, your projection levels would be something like 1.5, 2, 2.5, and 3, for the extension from your 1 Fib Level, and -0.5, -1, -1.5, and -2 for your 0 Fib level.
The -1 and 2 level produce a 1:1 projection of your range low and high, meaning, if you expect price to expand as much as it did from the range low to range high, then you can project a -1 and 2 on your Fib, and it would show you what ICT calls “symmetrical price”
Now, how are standard deviations relevant here?
Well, if you’ve been paying attention to ICT’s recent videos, you would’ve caught that he’s recently started using Standard Deviation levels on breakers.
So my brain got going while watching his video on ORGs, and I decided to place the fib on the ORG high and low and see what it’d produce.
The results were very interesting.
Using this same example, if we place our fib on the ORG High and Low, and add some projection levels, we can see that we rejected right at the -2 Standard Deviation Level.
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You can see that I also marked out the EQ (Equilibrium, 50%, 0.5 of Fib) of the ORG. This is because we can use this level as a take profit level if we’re using an old ORG as our draw.
In days like these, where the gap formed was within a consolidation, and it continued to consolidate within the ORG zone that we extended, we can use the EQ in the same way we’d use an EQ for a range.
If it’s showing acceptance above the EQ, we are bullish, and expect the high of the ORG to be tapped, and vice versa.
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Using The Indicator
Here’s where our indicator comes in play.
To avoid having to do all this work of zooming in and marking out the close and open of the respective ORG candles, we created the Opening Range Gap + Standard Deviations Indicator, with the help of our dedicated Star Clique coder, a1tmaniac.
With the ORG + STD DEV indicator, you will be able to view ORG’s and their projections on the ETH (Electronic Trading Hours) chart.
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Features
Range Box
- Change the color of your Opening Range Gap to your liking
- Enable or disable the box from appearing using the checkbox
Range Midline
- Change the color of your Opening Range Gap Equilibrium
- Enable or disable the midline from appearing using the checkbox
Std. Dev
- Add whichever standard deviation levels you’d like.
- By default, the indicator comes with 0.5, 1, 1.5, and 2 standard deviation levels.
- Ensure that you add a comma ( , ) in between each standard deviation level
- Enable or disable the standard deviations from appearing using the opacity of the color (change to 0%)
Labels / Offset
- Adjust the offset of the label for the Standard Deviations
- Enable or disable the Labels from appearing using the checkbox
Time
- Adjust the time used for the indicators range
- If you’d like to use this for a Session or ICT Killzone instead, adjust the time
- Adjust the timezone used for the time referenced
- Options are UTC, US (UTC-4, New York Local Time) or UK (UTC+1, London Time)
- By default, the indicator is set to US
Fair Value Gap - FVG - HistogramThis indicator uses a histogram to represent "fair value gaps" ("FVG"). FVG is a popular pattern among modern traders.
This document describes the purpose of the script and discusses the conceptual meaning of "fair value," as well as the connotations attached to it.
█🚀 Based on the previous script - improved clarity
This indicator is a modified version of the "Three Bar Gap (Simple Price Action - with 1 line plot)" indicator, which is also available as open source and can be applied to a chart as a complementary tool along with this indicator.
Differences:
The previous version introduced a "Threshold filter" to reduce the number of lines plotted on charts. This filter introduced two additional parameters for users to consider (ATR length and multiplier). These parameters made the indicator more complicated than intended.
To address this issue of having too many lines in the former version, I proposed a spin-off on this version: It's to consider plotting the magnitude of the FVGs on a histogram instead of using lines on a price chart. In my opinion, a histogram is more suitable for decision-making because it lays out data points side-by-side as bins, which makes comparisons much clearer.
Minor FVGs are expected to have smaller bins compared to their neighboring bins, and in extreme cases, the bins will become seemingly invisible due to the auto-adjusted scale of the y-axis. Therefore, there is no need to filter out any data, and all FVGs can be included in this spin-off version.
█🚀 Candlestick patterns - revisited
This script calculates the displacement of highs and lows over three consecutive bars.
A) Down move: When the high of the recent-confirmed bar is lower than the low of the previous-previous candle.
B) Up move: When the low of the recently-confirmed bar is higher than the high of the previous-previous candle.
█🚀 Parameters
Core Functionality
The purpose of this indicator is to generate bins representing the magnitude of FVGs in the form of a histogram to facilitate the visualization of price movements.
The act of "finding FVGs" does not require any inputs, but users can still customize the colors of the bins to indicate the direction of movement.
Auxiliary functionality: “Key level finder” by searching for large FVGs
The following inputs are optional, in fact, the entire feature can be toggled on/off.
In this example, setting the lookback at 20 means the script will generate a signal if the current histogram bin is taller than all previous bins over the past 20 bars.
█🚀 Applications
Tall histogram bins = key levels .
Traders should observe key levels for entry or exit opportunities.
It is important to note that this indicator was designed for standard time-based charts.
On a separate note, FVGs will not appear in Renko charts with fixed-size bricks. This is because the bricks align with their neighboring bricks. When the bricks are fixed, any displacement between highs and lows within less than or equal to three bars will be zero.
The concept of a "gap" is used to illustrate that price follows a jump-diffusion process, and time intervals can be assigned arbitrarily on the x-axis without needing fixed intervals. This idea was briefly discussed in the previous script's write-up.
█🚀 FAQ: Does it repaint?
No. And please continue reading.
Bins are plotted with a one-bar delay. It only takes one bar for the FVG to become confirmed. Lag is beneficial because it clarifies the need for traders to wait for the bar to close and for the signals to become confirmed before entering or exiting a trade. Experienced traders know that prices tend to retrace, so there is no need to chase. An added bar of delay proves to be useful.
█🚀 Opinion: The term “fair value” can be misleading
Those who come from traditional finance may find the term "fair value gap" somewhat insulting. When encountering the phrase, it can feel like a group of aliens from "Planet Technical Analysis" have intrusively landed on your planet and assertively redefined what "fair value" is supposed to mean.
So, what does "fair value" mean in the realm of technical analysis?
In the world of corporate finance, "fair value" is a subjective estimate of what buyers and sellers are hypothetically willing to pay or accept. Buy-side and sell-side analysts use their own methodologies to determine what constitutes "fair value". These approaches may be based on income, asset, or market comparables. Regardless of the approach used, subjectivity is inherent, and results depend on fundamental data provided by the numbers on financial statements. Valuations are unrelated to candlestick patterns .
When dealing with financial statements, finance professionals who are non-market-participants, such as those working in group reporting practices for reporting issuers, or those hired as external auditors, as required by regulators, may also question what constitutes "fair value". The main concerns always revolve around the assumptions used in valuation models; these are inputs that ultimately require management's judgment, and if not critically questioned, valuations as reported in the statements could end up becoming materially bogus. Both IFRS and U.S. GAAP define "fair value" with the same intended meaning in terms of definitions. We will not delve into the details here. The main point is that "fair value" from a financial reporting perspective has nothing to do with candlesticks .
If a price is already quoted in an actively traded market, you can refer to it to obtain what is known as "mark-to-market". This involves simply referring to the bid or ask price on the reporting date, and you're done - there's no need to read candlesticks !
"Fair value" is a neutral term used by finance professionals in all domains. It is not meant to imply that something is actually "fair." Paying the "fair value" for an asset can still result in overpaying or underpaying for what the asset is worth, depending on different model assumptions. The point is, candlesticks are irrelevant to the analysis of what is considered "fair value" in the realm of traditional finance.
That being said, there is no definitive answer as to why people refer to this pattern as a "fair value gap". It's like one of those oddball interview questions asking you to explain why tennis balls are fuzzy. Whatever answer you give, it's important to note that the subject itself is trivial.
Emphasis of matter on why "fair value" can be misleading
The previous paragraphs were not intended to attack ideas from the realm of technical analysis, nor to assert the true meaning, or lack of meaning, of the term "fair value". Words are constantly evolving. If the term "fair value gap" becomes more widely used to describe the displacement of highs and lows over three bars, then let's call it a "fair value gap".
To be clear, I argue that the term "fair value gap" should not be given a positive connotation. Traders should interpret the word "fair" neutrally. Although these signals occur frequently, if you trade every time there is a signal, you will overtrade and incur astronomical transaction costs over the long run, which can lead to losses.
█🚀 Conclusion:
In the end, what matters is how you apply FVG to trading. As mentioned in the "Applications" section above, traders should look for large FVGs - indicated by tall histogram bins - to identify key levels.
CVD - Cumulative Volume Delta (Chart)█ OVERVIEW
This indicator displays cumulative volume delta (CVD) as an on-chart oscillator. It uses intrabar analysis to obtain more precise volume delta information compared to methods that only use the chart's timeframe.
The core concepts in this script come from our first CVD indicator , which displays CVD values as plot candles in a separate indicator pane. In this script, CVD values are scaled according to price ranges and represented on the main chart pane.
█ CONCEPTS
Bar polarity
Bar polarity refers to the position of the close price relative to the open price. In other words, bar polarity is the direction of price change.
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 utilizes a LTF to analyze intrabars, or price changes within a chart bar. The lower the LTF, the more intrabars are analyzed, but the less chart bars can display information due to the limited number of intrabars that can be analyzed.
Volume delta
Volume delta is a measure that separates volume into "up" and "down" parts, then takes the difference to estimate the net demand for the asset. This approach gives traders a more detailed insight when analyzing volume and market sentiment. There are several methods for determining whether an asset's volume belongs in the "up" or "down" category. Some indicators, such as On Balance Volume and the Klinger Oscillator , use the change in price between bars to assign volume values to the appropriate category. Others, such as Chaikin Money Flow , make assumptions based on open, high, low, and close prices. The most accurate method involves using tick data to determine whether each transaction occurred at the bid or ask price and assigning the volume value to the appropriate category accordingly. However, this method requires a large amount of data on historical bars, which can limit the historical depth of charts and the number of symbols for which tick data is available.
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. This indicator uses intrabar analysis to achieve a compromise between simplicity and accuracy in calculating volume delta on historical bars. Our Volume Profile indicators use it as well. Other volume delta indicators in our Community Scripts , such as the Realtime 5D Profile , use real-time chart updates to achieve more precise volume delta calculations. However, these indicators aren't suitable for analyzing historical bars since they only work for real-time analysis.
This is the logic we use to assign intrabar volume to the "up" or "down" category:
• 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 comprising a chart bar are analyzed, we calculate the net difference between "up" and "down" intrabar volume to produce the volume delta for the chart bar.
█ FEATURES
CVD resets
The "cumulative" part of the indicator's name stems from the fact that calculations accumulate during a period of time. By periodically resetting the volume delta accumulation, we can analyze the progression of volume delta across manageable chunks, which is often more useful than looking at volume delta accumulated 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 trend changes : Calculations reset on the direction change of either the Aroon indicator, Parabolic SAR , or Supertrend .
• 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
Specifying intrabar precision
Ten options are included in the script to control the number of intrabars used per chart bar for calculations. The greater the number of intrabars per chart bar, the fewer chart bars can be analyzed.
The first five options allow users to specify the approximate amount of chart bars to be covered:
• Least Precise (Most chart bars) : Covers all chart bars by dividing the current timeframe by four.
This ensures the highest level of intrabar precision while achieving complete coverage for the dataset.
• Less Precise (Some chart bars) & More Precise (Less chart bars) : These options calculate a stepped LTF in relation to the current chart's timeframe.
• Very precise (2min intrabars) : Uses the second highest quantity of intrabars possible with the 2min LTF.
• Most precise (1min intrabars) : Uses the maximum quantity of intrabars possible with the 1min LTF.
The stepped lower timeframe for "Less Precise" and "More Precise" options is calculated from the current chart's timeframe as follows:
Chart Timeframe Lower Timeframe
Less Precise More Precise
< 1hr 1min 1min
< 1D 15min 1min
< 1W 2hr 30min
> 1W 1D 60min
The last five options allow users to specify an approximate fixed number of intrabars to analyze per chart bar. The available choices are 12, 24, 50, 100, and 250. The script will calculate the LTF which most closely approximates the specified number of intrabars per chart bar. Keep in mind that due to factors such as the length of a ticker's sessions and rounding of the LTF, it is not always possible to produce the exact number specified. However, the script will do its best to get as close to the value as possible.
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.
Display
This script displays raw or cumulative volume delta values on the chart as either line or histogram oscillator zones scaled according to the price chart, allowing traders to visualize volume activity on each bar or cumulatively over time. The indicator's background shows where CVD resets occur, demarcating the beginning of new zones. The vertical axis of each oscillator zone is scaled relative to the one with the highest price range, and the oscillator values are scaled relative to the highest volume delta. A vertical offset is applied to each oscillator zone so that the highest oscillator value aligns with the lowest price. This method ensures an accurate, intuitive visual comparison of volume activity within zones, as the scale is consistent across the chart, and oscillator values sit below prices. The vertical scale of oscillator zones can be adjusted using the "Zone Height" input in the script settings.
This script displays labels at the highest and lowest oscillator values in each zone, which can be enabled using the "Hi/Lo Labels" input in the "Visuals" section of the script settings. Additionally, the oscillator's value on a chart bar is displayed as a tooltip when a user hovers over the bar, which can be enabled using the "Value Tooltips" input.
Divergences occur when the polarity of volume delta does not match that of the chart bar. The script displays divergences as bar colors and background colors that can be enabled using the "Color bars on divergences" and "Color background on divergences" inputs.
An information box in the lower-left corner of the indicator displays the HTF used for resets, the LTF used for intrabars, the average quantity of intrabars per chart bar, and the number of chart bars for which there is LTF data. This is enabled using the "Show information box" input in the "Visuals" section of the script settings.
FOR Pine Script™ CODERS
• This script utilizes `ltf()` and `ltfStats()` from the lower_tf library.
The `ltf()` function determines the appropriate lower timeframe from the selected calculation mode and chart timeframe, and returns it in a format that can be used with request.security_lower_tf() .
The `ltfStats()` function, on the other hand, is used to compute and display statistical information about the lower timeframe in an information box.
• The script utilizes display.data_window and display.status_line to restrict the display of certain plots.
These new built-ins allow coders to fine-tune where a script’s plot values are displayed.
• The newly added session.isfirstbar_regular built-in allows for resetting the CVD segments at the start of the regular session.
• The VisibleChart library developed by our resident PineCoders team leverages the chart.left_visible_bar_time and chart.right_visible_bar_time variables to optimize the performance of this script.
These variables identify the opening time of the leftmost and rightmost visible bars on the chart, allowing the script to recalculate and draw objects only within the range of visible bars as the user scrolls.
This functionality also enables the scaling of the oscillator zones.
These variables are just a couple of the many new built-ins available in the chart.* namespace.
For more information, check out this blog post or look them up by typing "chart." in the Pine Script™ Reference Manual .
• Our ta library has undergone significant updates recently, including the incorporation of the `aroon()` indicator used as a method for resetting CVD segments within this script.
Revisit the library to see more of the newly added content!
Look first. Then leap.
VisibleChart█ OVERVIEW
This library is a Pine programmer’s tool containing functions that return values calculated from the range of visible bars on the chart.
This is now possible in Pine Script™ thanks to the recently-released chart.left_visible_bar_time and chart.right_visible_bar_time built-ins, which return the opening time of the leftmost and rightmost bars on the chart. These values update as traders scroll or zoom their charts, which gives way to a class of indicators that can dynamically recalculate and draw visuals on visible bars only, as users scroll or zoom their charts. We hope this library's functions help you make the most of the world of possibilities these new built-ins provide for Pine scripts.
For an example of a script using this library, have a look at the Chart VWAP indicator.
█ CONCEPTS
Chart properties
The new chart.left_visible_bar_time and chart.right_visible_bar_time variables return the opening time of the leftmost and rightmost bars on the chart. They are only two of many new built-ins in the `chart.*` namespace. See this blog post for more information, or look them up by typing "chart." in the Pine Script™ Reference Manual .
Dynamic recalculation of scripts on visible bars
Any script using chart.left_visible_bar_time or chart.right_visible_bar_time acquires a unique property, which triggers its recalculation when traders scroll or zoom their charts in such a way that the range of visible bars on the chart changes. This library's functions use the two recent built-ins to derive various values from the range of visible bars.
Designing your scripts for dynamic recalculation
For the library's functions to work correctly, they must be called on every bar. For reliable results, assign their results to global variables and then use the variables locally where needed — not the raw function calls.
Some functions like `barIsVisible()` or `open()` will return a value starting on the leftmost visible bar. Others such as `high()` or `low()` will also return a value starting on the leftmost visible bar, but their correct value can only be known on the rightmost visible bar, after all visible bars have been analyzed by the script.
You can plot values as the script executes on visible bars, but efficient code will, when possible, create resource-intensive labels, lines or tables only once in the global scope using var , and then use the setter functions to modify their properties on the last bar only. The example code included in this library uses this method.
Keep in mind that when your script uses chart.left_visible_bar_time or chart.right_visible_bar_time , your script will recalculate on all bars each time the user scrolls or zooms their chart. To provide script users with the best experience you should strive to keep calculations to a minimum and use efficient code so that traders are not always waiting for your script to recalculate every time they scroll or zoom their chart.
Another aspect to consider is the fact that the rightmost visible bar will not always be the last bar in the dataset. When script users scroll back in time, a large portion of the time series the script calculates on may be situated after the rightmost visible bar. We can never assume the rightmost visible bar is also the last bar of the time series. Use `barIsVisible()` to restrict calculations to visible bars, but also consider that your script can continue to execute past them.
Look first. Then leap.
█ FUNCTIONS
The library contains the following functions:
barIsVisible()
Condition to determine if a given bar is within the users visible time range.
Returns: (bool) True if the the calling bar is between the `chart.left_visible_bar_time` and the `chart.right_visible_bar_time`.
high()
Determines the value of the highest `high` in visible bars.
Returns: (float) The maximum high value of visible chart bars.
highBarIndex()
Determines the `bar_index` of the highest `high` in visible bars.
Returns: (int) The `bar_index` of the `high()`.
highBarTime()
Determines the bar time of the highest `high` in visible bars.
Returns: (int) The `time` of the `high()`.
low()
Determines the value of the lowest `low` in visible bars.
Returns: (float) The minimum low value of visible chart bars.
lowBarIndex()
Determines the `bar_index` of the lowest `low` in visible bars.
Returns: (int) The `bar_index` of the `low()`.
lowBarTime()
Determines the bar time of the lowest `low` in visible bars.
Returns: (int) The `time` of the `low()`.
open()
Determines the value of the opening price in the visible chart time range.
Returns: (float) The `open` of the leftmost visible chart bar.
close()
Determines the value of the closing price in the visible chart time range.
Returns: (float) The `close` of the rightmost visible chart bar.
leftBarIndex()
Determines the `bar_index` of the leftmost visible chart bar.
Returns: (int) A `bar_index`.
rightBarIndex()
Determines the `bar_index` of the rightmost visible chart bar.
Returns: (int) A `bar_index`
bars()
Determines the number of visible chart bars.
Returns: (int) The number of bars.
volume()
Determines the sum of volume of all visible chart bars.
Returns: (float) The cumulative sum of volume.
ohlcv()
Determines the open, high, low, close, and volume sum of the visible bar time range.
Returns: ( ) A tuple of the OHLCV values for the visible chart bars. Example: open is chart left, high is the highest visible high, etc.
chartYPct(pct)
Determines a price level as a percentage of the visible bar price range, which depends on the chart's top/bottom margins in "Settings/Appearance".
Parameters:
pct : (series float) Percentage of the visible price range (50 is 50%). Negative values are allowed.
Returns: (float) A price level equal to the `pct` of the price range between the high and low of visible chart bars. Example: 50 is halfway between the visible high and low.
chartXTimePct(pct)
Determines a time as a percentage of the visible bar time range.
Parameters:
pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.
Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost.
chartXIndexPct(pct)
Determines a `bar_index` as a percentage of the visible bar time range.
Parameters:
pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.
Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost.
whenVisible(src, whenCond, length)
Creates an array containing the `length` last `src` values where `whenCond` is true for visible chart bars.
Parameters:
src : (series int/float) The source of the values to be included.
whenCond : (series bool) The condition determining which values are included. Optional. The default is `true`.
length : (simple int) The number of last values to return. Optional. The default is all values.
Returns: (float ) The array ID of the accumulated `src` values.
avg(src)
Gathers values of the source over visible chart bars and averages them.
Parameters:
src : (series int/float) The source of the values to be averaged. Optional. Default is `close`.
Returns: (float) A cumulative average of values for the visible time range.
median(src)
Calculates the median of a source over visible chart bars.
Parameters:
src : (series int/float) The source of the values. Optional. Default is `close`.
Returns: (float) The median of the `src` for the visible time range.
vVwap(src)
Calculates a volume-weighted average for visible chart bars.
Parameters:
src : (series int/float) Source used for the VWAP calculation. Optional. Default is `hlc3`.
Returns: (float) The VWAP for the visible time range.
Tick Chart RSIHello All,
This is Tick Chart RSI script and it calculates & shows RSI for Tick Chart. What is Tick chart? Tick Chart is created using ticks and each candlestick in Tick Chart shows the price variation of X consecutive ticks (X : Number of Ticks Per Candle). For example if you set "Number of Ticks Per Candle" = 100 then each candlestick is created using 100 ticks. so, Tick Charts are NOT time-based charts (like Renko or Point & Figure Charts). Tick is the price change in minimum time interval defined in the platform. There are several advantages of Tick Charts. You can find many articles about Tick Charts on the net.
Tick Chart and Tick Chart RSI only work on realtime bars.
You can set " Number of Ticks Per Candle " and the colors. You can also set any of the candles OHLC values as source for RSI.
While using Tick Chart RSI I recommend you to add Tick Chart as well.
P.S. Tick Chart RSI script can be developed using different methods. in this script, all RSI values are calculated on each tick because RSI is calculated for only real-time bars, and also calculated for limited number of bars
Tick Chart and Tick Chart RSI:
Tick Chart RSI:
Enjoy!
