Momentum ProfileProfile market behavior in horizontal zones
Profile Sidebar
Buckets pointing rightward indicate upward security movement in the lookahead window at that level, and buckets pointing leftward indicate downward movement in the lookahead window.
Green profile buckets indicate the security's behavior following an uptrend in the lookbehind window. Conversely, Red profile buckets show security's behavior following a downtrend in the lookbehind window. Yellow profile buckets show behavior following sideways movement.
Buckets length corelates with the amount of movement measured in that direction at that level.
Inputs
Length determines how many bars back are considered for the calculation. On most securities, this can be increased to just above 4000 without issues.
Rows determines the number of buckets that the securities range is divided into.
You can increase or decrease the threshold for which moves are considered sideways with the sideways_filter input: higher means more moves are considered sideways.
The lookbehind input determines the lookbehind window. Specifically, how many bars back are considered when determining whether a data point is considered green (uptrend), red (downtrend), or yellow (no significant trend).
The lookahead input determines how many bars after the current bar are considered when determining the length and direction of each bucket (leftward for downward moves, rightward for upward moves).
Profile_width and Profile_spacing are cosmetic choices.
Intrabar support is not current supported.
Region Highlighting
Regions highlighted green saw an upward move in the lookahead window for both lookbehind downtrends and uptrends. In other words, both red and green profile buckets pointed rightward.
Regions highlighted red saw a downward move in the lookahead window both for lookbehind downtrends and uptrends.
Regions highlighted brown indicate a reversal region: uptrends were followed by downtrends, and vice versa. These regions often indicate a chop range or sometimes support/resistance levels. On the profile, this means that green buckets pointed left, and red buckets pointed right.
Regions highlighted purple indicate that whatever direction the security was moving, it continued that way. On the profile, this means that green buckets pointed right, and red buckets pointed left in that region.
Cari dalam skrip untuk "momentum"
Momentum spotter(FogWalkerTrader) This a trend following indicator using simple moving averages and price close,high and low of recent candles to plot a buy or sell signal.
IMPORTANT - this indicator does not repaint.Traders need to wait untill the the closing of the candle though as the signal is dependant of the close of the period.
Buy Signal: Price closes above the 20, 50, and 200 simple moving averages (SMAs), with the 50 SMA above the 200 SMA, indicating a strong uptrend. The last 4 prices had their lows below the 5 SMA and highs above it.Plus, the current close is higher than the high from 4 periods ago, further suggesting a bullish move.
BUY = blue labelup plotted below candlestick
Sell Signal: Price closes below the 20, 50, and 200 SMAs, with the 50 SMA below the 200 SMA, signaling a strong downtrend. The last 4 prices had their highs above the 5 SMA and lows below it Plus, the current close is lower than the low from 4 periods ago, further suggesting a bearish move.
SELL = red labeldown plotted above candlestick.
IMPORTANT
It’s important to note that, like any trading tool, this isn't foolproof. The market can be unpredictable, leading to false signals. The logic behind these signals is sound, but due to the complexity and volatility of the market, there are times when the signals may not lead to the expected outcome. It's a useful tool, but it's wise to use it alongside other analyses to make more informed decisions.
F.B_Consolidation Range Identifier
The "F.B_Consolidation Range Identifier" (F.B_CRI) is an indicator aimed at identifying consolidation areas in the price chart. Here is an explanation of the logic and usage of this indicator:
Calculation of Standard Deviation
This indicator analyzes the market's volatility by considering the standard deviation of price movements over a defined period. A higher standard deviation indicates larger price movement, while a lower standard deviation suggests potential consolidation, where price movements are limited.
Derivation of Standard Deviation
To track changes in volatility, the derivative of the standard deviation is calculated. Positive derivative values indicate increasing volatility, while negative values suggest a decrease in volatility. This allows for the identification of potential consolidation phases where volatility decreases, and the market may stabilize.
Identification of Consolidation Phase
The indicator signals potential consolidation phases when the standard deviation is low and/or the derivative of the standard deviation is negative. To represent consolidation phases on the chart, the standard deviation line, background, and candles are colored red. However, it's important to note that the display is customizable and can be configured according to individual needs.
🚨 Important 🚨
The indicator only indicates whether consolidation phases exist. If the standard deviation line, background, or candles are gray, it indicates that a trend exists in general, but not whether it is bullish or bearish. It is advisable to use other analytical tools to confirm the direction of the trend.
ROC & EMAIn summary, this allows you to plot the ROC, its EMA, and dynamically display the value of this EMA on the chart.
You can configure different lengths and colors.
Unpretentious code, just for the pleasure of sharing.
Thank you for sharing your comments with me, which will be welcome.
Zaree - Bull & Bear Volume VoidThe "Zaree - Bull & Bear Volume Void" (BBVV) indicator is a versatile tool designed to help traders assess the dynamics of bull and bear power in the market, with a focus on volume-based analysis. This indicator offers a range of features that aid in identifying potential shifts in market sentiment and strength.
Details of the Indicator:
Volume Void Color Settings: This indicator allows you to customize the colors used for different conditions, such as strong bull areas, slowing bull areas, strong bear areas, and slowing bear areas. These colors play a crucial role in visualizing the indicator's output.
Volume Void Settings: The BBVV indicator provides options for selecting specific volume void functions, which include "Relative Volume Comparison," "Percentage of Average Volume," "Fixed Volume Threshold," "Volatility-Adjusted Volume," "Compare to Previous Volume Bars," "Volume Percentile Rank," and "Market Session Comparison." Each function has its own criteria for evaluating volume conditions.
Void Bull Sensitivity and Void Bear Sensitivity: These are key parameters in the settings. The values you choose for void bull sensitivity and void bear sensitivity will significantly impact the background color displayed by the indicator. Properly configuring these values is crucial for the indicator's effectiveness.
Moving Average Settings: You can specify the source and length of moving averages used in the indicator. This helps in smoothing out data and providing a clearer picture of bull and bear power.
Void Color Background Conditions: The indicator dynamically changes the background color of the chart based on the current market conditions. It takes into account bull and bear power, as well as the configured sensitivity levels to determine whether the market is in a strong or slowing bull/bear phase.
MACD and Signal Lines: The indicator also displays MACD and signal lines on the chart, helping traders identify potential bullish and bearish crossovers.
Histogram Bars: Histogram bars are used to represent the strength of bull and bear power. Above-zero bars indicate bullish strength, while below-zero bars indicate bearish strength.
How to Use the Indicator:
Begin by customizing the color settings for different market conditions to your preference.
Select a volume void function that aligns with your trading strategy and objectives.
Configure the void bull sensitivity and void bear sensitivity values carefully. These values should reflect your desired sensitivity to volume conditions.
Choose the source and length of moving averages based on your analysis requirements.
Pay attention to the background color of the chart. It will change dynamically based on the current market conditions, providing insights into the strength of bull and bear power.
Observe the MACD and signal lines for potential bullish or bearish crossovers, which can be used as additional confirmation signals.
Interpret the histogram bars to gauge the strength of bull and bear power.
Example of Usage:
As a swing trader with a focus on volume analysis, you can use the BBVV indicator to enhance your trading decisions. Here's an example of how you might use the indicator:
Select "Relative Volume Comparison" as the volume void function to assess volume relative to a simple moving average.
Configure void bull sensitivity and void bear sensitivity to match your risk tolerance and trading style.
Choose "SMA" as the moving average type with a suitable length.
Pay attention to the background color changes in the chart. Strong bull areas may indicate potential bullish opportunities, while strong bear areas may signal bearish conditions.
Monitor the MACD and signal lines for potential crossovers, aligning them with the background color to validate your trading decisions.
Use the histogram bars to assess the strength of bull and bear power, helping you gauge market sentiment.
Remember that the BBVV indicator is a valuable tool to complement your trading strategy. It provides insights into volume dynamics and market conditions, allowing you to make informed trading choices.
Be sure to adjust the indicator settings according to your trading preferences and always consider the broader market context in your analysis.
TaLib RSI (ta-lib uses SMA)If you've ever been confused because Ta-Lib RSI differs from TradingView's RSI...
Look no further than here which instead of using the Rolling Moving Average, will instead use the Simple Moving Average
Sessions[Lenny Kiruthu]The script below is designed to show up to 4 different trading sessions i.e. London, New York, Tokyo and Sydney sessions, it also displays the days each session is taking place in as well as two horizontal lines one for the previous days high and the other for the previous days low.
It also displays a table that shows the user the highest and lowest price for 4 different currency pairs the previous day as well as their current prices and below it a confirmation row that shows whether price is currently above, below or within yesterdays range. Note that it only states "High Broken" or "Low Broken" if the current close is above or below the lines.
What you can change
Your time zone for example GMT -4 or GMT +3
The session start and end time
The colors, border type and border width of the session ranges
Displaying the table
Ability to choose the 4 symbols to view on the table
Bulls v BearsThis script helps you identify the relative strength of bulls and bears in the market. It calculates the difference between the high and the moving average for bulls, and the difference between the moving average and the low for bears. Then it normalizes the values between -100 and 100 using the highest and lowest values of the last "bars back" periods. This allows you to compare the current strength of bulls and bears relative to their historical strength.
The output of the script is a colored column chart that represents the difference between the normalized bulls and bears values. If the chart is mostly green, it means the bulls are currently stronger than the bears, and vice versa for a mostly red chart. Additionally, the script provides bullish and bearish signals based on when the normalized bulls cross above or below the user-defined "Line Height" value.
You can use this script to help you identify potential trend changes in the market, as well as to confirm existing trends.
Advanced Price Direction AlgorithmPrices can go up or down or falter in their movement.
This code evaluates this by looking at two consecutive bars or sets of bars.
If you put the set size to 1, the current and previous bar is evaluated.
If put to 2, the last2 and the 2 before these are evaluated.
Default is 12 because this seems to coincide with trend changes.
This code provides an advanced way to evaluate what the price does in a sort of three-value Boolean with the values up, down or falter.
I use this code in indicators I develop where price direction is taken into account.
The simple output makes it possible to use it as an indicator on its own.
Energy_Arrows[Salty]This script quantifies the energy in a price move by comparing the relationship of 3 configurable exponential moving averages present on a slightly higher timeframe (chosen automatically based on the charts current period). It uses the closing price by default, but this is also configurable using the Source input. There are a few ways to use the information in this indicator. One is to use the values above zero (colored green) to provide a bullish bias for future price, and values below zero (colored red) indicating a bearish bias for future prices. This bias can be shown to be increasing or decreasing base on the upward or downward slope of the indicator. The green and red arrows can be enabled to show if the bias is strengthening or weakening based on the direction they are pointing. Finally, the height changes in the peaks of the indicator can be used to show divergence in the strength of extreme price moves to show when a pull back or reversal may occur.
Arron Meter With Alerts [Skiploss]Arron Meter With Alerts is an indicator to identify the trend, and a meter shows the percentage of AroonUP and AroonDown.
Alert Settings
It will be part of a display of bullish and bearish signals by using the condition of the upper line cross lower line and HMA 200 cross under/over EMA 12, and also upper/lower line must be higher than 70%
Momentum Traffic LightScript was first published 30 May 2021 on twitter by @lehlutz
This script visualizes long, short and neutral phases of any asset class as follows:
The differences A, B, C are formed from 3 moving averages
(3-EMA exponential moving average, 20-SMA simple moving average and 50-SMA simple moving average)
namely
A: (3-EMA minus 20-SMA)
B: (3-EMA minus 50-SMA)
C: (20-SMA minus 50-SMA).
Then the following rules apply to the traffic light (where ∂ means slope).
green traffic light (bullish): (A>0,B>0,C>0), (A>0,B>0,∂C>0), (A>0,∂B>0,C>0) or (A>0,∂B>0,∂C>0, whereas ∂A>0)
red traffic light (bearish): (A<0,B<0,C<0, whereas at least ∂A or ∂B or ∂C is <0) or (A<0,B<0,∂C<0 whereas ∂A and ∂B<0);
yellow traffic light (neutral): all other
Indicator should not be considered as financial advice
GRIDBOT Scalper by nnamWhat is this Indicator used for?
Made specifically for GRID Bots
note: before continuing... this indicator works on any timeframe, but it WORKS BEST ON THE 15 MINUTE TIMEFRAME
Straters and Forex Master Pattern Value Line Traders use this to help determine when the price could reverse.
This indicator is a scalping indicator that produces signals when a "potential" reversal in price is indicated. When the price moves UP and a Potential Bearish Reversal Signal occurs, traders can use this signal as a potential SHORT entry signal for their Short Grid Bot. The process is the same in reverse. After a sustained move down, a Potential Bullish Signal can be used by the trader as a potential LONG entry signal for their GridBot.
As shown in the screenshot below, lines develop on the chart (either RED or GREEN) indicating that a sustained move in one direction is currently occurring; however, there is no potential reversal signal plotted (this means that price action is currently moving in one direction only).
As shown in the screenshot below, lines can be used as a stop-loss after entering the GRIDbot. (usually, by this time, the Grid Bot is in Profit as it usually moves in the opposite direction first)
What this Indicator Does
The GRIDBOT Scalper provides information regarding potential reversals in the market after a sustained movement in one direction (either Bullish or Bearish).
The indicator is based on PRICE-ACTION ONLY and does not take into account the current state of the market (Bullish or Bearish).
Once the price moves in a particular direction for at least 14 bars , a line appears as shown in a previous screenshot. Once the price stops moving in that direction and begins moving in the opposite direction - and after a sustained run - a "signal" appears alerting the trader that a "potential" reversal could be on the horizon soon.
If price moves in one direction and plots both a line and a signal and then begins moving back in the other direction in a sustained manner, the original signal will remain even when a NEW line begins forming (the original line will disappear). (see below) This line will continue to move as the price continues to move. Not until a signal plots on the chart is the potential reversal forming. THE LINE DOES NOT SIGNAL A REVERSAL . Some traders, however, use this information to "ride the wave UP or DOWN" and exit their positions once the signal prints.
As shown below, optional input settings allow the trader to set the line at CLOSE or HIGH/LOW of the candle preceding the potential reversal.
It is suggested to use Close instead of High or Low but the setting allows one to use either.
As shown in the screenshot below, it is typical on LOWER TIME FRAMES to see the price pass the signal line. The Indicator works best on the 15 minute timeframe, as it gives the trader time to make the decisions required as the volatility is less on the 15 minute chart vs the 1 minute or 5 minute charts.
If you have any questions or suggestions for this indicator, please join our Discord. We offer free training on this Indicator on our Discord Server.
TMO ScalperTMO - (T)rue (M)omentum (O)scillator) MTF Scalper Version
TMO Scalper is a special custom version of the popular TMO Oscillator. Scalper version was designed specifically for the lower time frames (1-5min intraday scalps). This version prints in the signals directly on top of the oscillator only when the higher aggregations are aligned with the current aggregation (the big wheels must be spinning in order for a small wheel to spin). The scalper consist of three MTF TMO oscillators. First one is the one that plot signals (should be the fastest aggregation), second serves as a short term trend gauge (good rule of thumb is to us 2-5x of the chart time frame or the first aggregation). The third one (optional) is shaded in the background & should only serve as a trend gauge for the day (usually higher time frames 30min+).
Time Frames Preffered by Traders:
1. 1m / 5m / 30m - This one is perfect for catching the fastest moves. However, during choppy days the 1min can produce more false signals..
2. 2m / 10m / 30m - Healthy middle, the 2min aggregation nicely smooths out the 1min mess. Short term gauge is turning slowly (10min for a signal to confirm).
3. 3m / 30m / 60m - This TF is awesome for day traders that prefer to take it slow. Obviously, this combination will produce far less signals during the day.
Hope it helps.
Macro Directional IndexCore to this indicator is the rate at which DI+ and DI- are moving away or towards each other. This is called The Rate of Change (ROC). The ROC length dictates how many bars back you want to compare to the current bar to see how much it has changed. It is calculated like this:
(source - source /source ) * 100
This indicator has 4 values in the status line:
DI+
DI-
Distance between DI+ and DI-
DI Rate of Change
DI Rate of Change
The rate of change is smoothed using an EMA. A shorter EMA length will cause the ROC to flip back and forth between positive and negative while a larger EMA length will cause the ROC to change less often. "Since the rate of change is used to indicate periods of 'consolidation', you want to find a setting that doesn't flip back and forth too often.
Directional Index Middle Channel
Between the DI+ and DI- is a black centerline. Offset from this centerline is a channel that is used to filter out false crosses of the DI+ and DI-. Sometimes, the DI+ and DI- lines will come together in this channel and cross momentarily before resuming the direction prior to the cross. When this happens, you don't want to flip your bias too soon. The wider the channel, the later the indicator will signal a DI reversal. A narrower channel will call it sooner but risks being more choppy and indicating a false cross."
Directional Slope Strength IndexThe most basic of trend indicators is the price change over some period of time. Rate of change is the most common indicator to use which calculates the current price minus the price n bars back. I've written this indicator to solve several problems the default value of ROC.
1. We're interested in the magnitude or strength of the slope of change.
2. We need a number that we can make decisions from between 0 and something close to a peak of 10.
3. We need the ability to define a threshold where a directional change might be taking place.
The Directional Slope Strength Index solves these problems by taking 1000 samples of your given Rate of Change input and calculating a standard score (or z-score) which represents the number of standard deviations by which the current rate of change is above or below the historical average. A higher number represents a stronger move up and a lower (negative) number represents a stronger move down. A value closer to 0 would represent a sideways trend or the slowing of a current trend.
A potential threshold could be 2 or -2 which is two standard deviations from the mean ROC.
The inputs can be modified to control the sensitivity.
1. A lower ROC length would provide a more sensitive measure, but still measure how that sensitive input changes over 1000 samples.
2. I recommend keeping the sample rate at 1000 as that provides enough historical data to give a more accurate distribution and therefore a more accurate DSSI (z-score).
A number of decisions can be made from the indicator:
1. When the DSSI crosses above 2, it could be a sign of a strong move upward. When below -2 it could be a sign of a strong downward move.
2. When the DSSI persists in a positive or negative channel between 0 and 2 or 0 and -2 this could indicate the formation of the next trend.
3. Values outside 2 and -2 standard deviations should be interpreted as high volatility environments.
4. For convenience, a highest and lowest DSSI have been plotted to provide references to the historical extremes.
I'm open to any questions and feedback as this is a first, original indicator for me.
Cutlers RSICutlers' RSI is a variation of the original RSI Developed by Welles Wilder.
This variation uses a simple moving average instead of an exponetial.
Since a simple moving average is used by this variation, a longer length tends to give better results compared to a shorter length.
CALCULATION
Step1: Calculating the Gains and Losses within the chosen period.
Step2: Calculating the simple moving averages of gains and losses.
Step3: Calculating Cutler’s Relative Strength (RS). Calculated using the following:
-> Cutler’s RS = SMA(gains,length) / SMA(losses,length)
Step 4: Calculating the Cutler’s Relative Strength Index (RSI). Calculated used the following:
-> RSI = 100 —
I have added some signals and filtering options with moving averages:
Trend OB/OS: Uptrend after above Overbought Level. Downtrend after below Oversold Level.
OB/OS: When above Overbought, or below oversold
50-Cross: Above 50 line is uptrend, below is downtrend
Direction: Moving up or down
RSI vs MA: RSI above MA is an uptrend, RSI below MA is a downtrend
The signals I added are just some potential ideas, always backtest your own strategies.
Harris RSIThis is a variation of Wilder's RSI that was altered by Michael Harris.
CALCULATION
The average change of each of the length's source value is compared to the more recent source value.
The average difference of both positive or negative changes is found.
The range of 100 is divided by the divided result of the average incremented and decremented ratio plus one.
This result of the above is subracted from the range value of 100
I have added some signals and filtering options with moving averages:
Trend OB/OS: Uptrend after above Overbought Level. Downtrend after below Oversold Level\n(For the traditional RSI OB=60 and OS=40 is used)
OB/OS: When above Overbought, or below oversold
50-Cross: Above 50 line is uptrend, below is downtrend
Direction: Moving up or down
RSI vs MA: RSI above MA is an uptrend, RSI below MA is a downtrend
The signals I added are just some potential ideas, always backtest your own strategies.
TMO ArrowsTMO - (T)rue (M)omentum (O)scillator) MTF Arrows
Do you want to use TMO but you lack space on the chart? This study is just for you. This is the more user-friendly version of the TMO Oscillator. In terms of the indicator there are no changes except the indicator is converted in to the simple arrows.
There are Four Types of Arrows:
1. TMO Arrow Up - Visualizes the TMO bullish crosses.
2. TMO Arrow Down - Visualizes the TMO bearish crosses.
3. TMO Arrow Up (Oversolds Only) - Visualizes only the bullish crosses that are at or below the oversold zone.
4. TMO Arrow Down (Overboughts Only) - Visualizes only the bearish crosses that are at or above the overbought zone.
In case you only want the arrows for extremes, turn off the Arrow Up / Arrow Down first. Arrows for extremes only are turned off by default.
Hope it helps.
Conversion Range Candles// Conversion Range Candles
// Compares price action range with that of the value currency (e.g. ETHBTC compared to BTCUSD).
// Public Domain
// by JollyWizard
[HA] Heikin-Ashi Shadow Candles// For overlaying Heikin Ashi candles over basic charts, or for use in it's own panel as an oscillator.
// Enjoy the visual cues of HA candles, without giving up price action awareness.
// Good for learning and comparison.
// Aug 11 2022
Release Notes: * Bugfix: Candle color was based on classic direction not HA direction (did not update cover photo).
// Aug 12 2022
Release Notes: * Implemented true oscillator mode.
Provided as separate plot (styles tab) or mode switch option (Inputs tab). TV gets spazzy with "styles tab" "default hidden" plots, and will reset them if any variables are modified that affect them (i.e. wick color override). Mode switch should be sufficient for both users.
// Aug 21 2022
Republished because of typo in indicator name prevented search.
Heinkin-Ashi Shadow Candles// Public Domain
// By JollyWizard
// For overlaying Heikin Ashi candles over basic charts, or for use in it's own panel as an oscillator.
// Enjoy the visual cues of HA candles, without giving up price action awareness.
// Good for learning and comparison.
DMI StrategyThis strategy is based on DMI indicator. It helps me to identify base or top of the script. I mostly use this script to trade in Nifty bank options, even when the signal comes in nifty . It can be used to trade in other scripts as well. Pivot points can also be used to take entry. Long entry is taken when DI+(11) goes below 10 and DI-(11) goes above 40 , whereas short entry is taken when DI-(11) goes below 10 and DI+(11) goes above 40.
For bank nifty , I take the trade in the strike price for which the current premium is nearby 300, with the SL of 20%. If premium goes below 10% I buy one more lot to average, but exit if the premium goes below 20% of the first entry. If the trade moves in the correct direction, we need to start trailing our stoploss or exit at the pre-defined target.
As this a strategy, there is one problem. While we are in the phase of "long", if again the "long" phase comes, it will not be shown on chart until a "short" phase has come, and vice versa. This has been resolved by creating an indicator instead of strategy with the name of "DMI Buy-sell on chart". Please go through that to get more entry points.
Please have a look at strategy tester to back test
