Trending RSI [ChartPrime]Trending RSI takes a new approach to RSI intended to provide all of the missing information that traditional RSI lacks. Questions such as "why does the price continue to decline even during an oversold period?" can be aided using the Trending RSI.
These types of movements are due to the market still trending and traditional RSI can not tell traders this. Trending RSI fixes this by introducing trend information back into the oscillator. By reverse engineering RSI we have been able to make a new indicator that is no longer bound between 0 and 100. Instead it provides the traditional 70 and 30 zones as bands, and 50 as a center line that still represent these zones perfectly. This transforms RSI into a centered oscillator instead of a normalized oscillator. When the market is trending our indicator represents this as the center line being below or above 0. Just like MACD the center line is colored to represent the market phases. This helps in identifying reversals more clearly by adding a layer of confluence to the already renowned RSI. We have also included a novel filtering technique that has a low lag to smoothing ratio. This is primarily used to smooth the bands by default but you can also utilize this on the RSI. Several alerts have been included to provide users with easy to configure signals.
You can use the center line as a directional filter for your trades by only picking trades in the direction of the center line. When the center line is above 0, the market is trending up. Conversely, when the center line is below 0 the market is trending down trend. Use the polarity of the center line to estimate the strength of retracements from the oversold and overbought zones. We have also included a special moving average to help you find the momentum of a move. The Binomial MA filter approximates a normal curve making it similar to a gaussian filter. We have also included standard divergences which are fully configurable in the settings. Finally, we have built this indicator to be compatible with the built in multi time frame option to allow users to freely pick the time frame they wish to use. It is worth noting that due to the limitations of the standard MTF implementation divergences will not plot as expected when using time frames outside of the charts time frame. This is standard and also affects the built in RSI.
All of the colors are fully adjustable with the option to enable or disable the glow effect. We have also designed this indicator to only display the information for plots that are enabled to reduce clutter and provide a cleaner charting experience. All alerts are built to work with the standard alert builder and do not have to be enabled or disabled inside of the indicator.
Included Alerts:
RSI Cross Over Center
RSI Cross Under Center
RSI Cross Under Upper Range
RSI Cross Over Upper Range
RSI Cross Over Lower Range
RSI Cross Under Lower Range
RSI Cross Over MA
RSI Cross Under MA
RSI Cross Over 0
RSI Cross Under 0
Center Cross Over 0
Center Cross Under 0
Center Bullish
Center Bearish
Bullish Divergence
Bearish Divergence
In wrapping up, the Trending RSI aims to enhance the conventional RSI by adding trend insights directly into the oscillator, addressing the gap that traditional RSI leaves regarding market trends. This version of RSI breaks away from the 0 to 100 range, offering bands and a center line that better represent market conditions. It includes a set of features like the Binomial MA for momentum analysis, configurable settings for divergence detection, and compatibility with multi-time frame analysis. The color customization and glow effects aim to improve visual clarity, and the inclusion of alerts is designed to streamline alert configuration. Overall, this indicator is designed to provide a more view of the markets, suitable for traders looking to incorporate trend analysis into their RSI-based strategies.
Enjoy
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Order Blocks | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Volumized Order Blocks indicator! This new indicator can render order blocks with their volumetric information. It's highly customizable with detection, invalidation and style settings.
Features of the new Volumized Order Blocks indicator :
Render Bullish & Bearish Order Blocks
Enable / Disable Volumetric Information
Enable / Disable Historic Zones
Visual Customizability
📌 HOW DOES IT WORK ?
Order blocks occur when there is a high amount of market orders exist on a price range. It is possible to find order blocks using specific formations on the chart.
The high & low volume of order blocks should be taken into consideration while determining their strengths. The determination of the high & low volume of order blocks are similar to FVGs, in a bullish order block, the high volume is the last 2 bars' total volume, while the low volume is the oldest bar's volume. In a bearish order block scenario, the low volume becomes the last 2 bars' total volume.
🚩UNIQUENESS
The ability to render the total volume of Order Blocks as well as bullish / bearish volume ratio is what sets this Order Block indicator apart from others. Also the ability to combine overlapping Order Block zones will result in cleaner charts for traders.
⚙️SETTINGS
1. General Configuration
Volumetric Info -> The volumetric information of the Order Blocks will be rendered if activated.
Zone Invalidation -> Select between Wick & Close price for Order Block Invalidation.
Swing Length -> Swing length is used when finding order block formations. Smaller values will result in finding smaller order blocks.
Support and Resistance (MTF) | Flux Charts💎 GENERAL OVERVIEW
Introducing a groundbreaking support and resistance indicator designed to revolutionize your trading experience on TradingView! This innovative tool operates across three distinct timeframes, offering a comprehensive view of market dynamics to help you make informed trading decisions.
The indicator offers a large variety of features :
Select Up To 3 Timeframes
Select Strength Of Supports & Resistances
Select Between Zones & Lines
Show Breaks & Restests
Break & Retest Alerts
Avoid False Breaks
Inverse Color After Broken
Expand Lines & Zones
🚩UNIQUENESS
What sets this indicator apart is its ability to seamlessly integrate and analyze support and resistance levels across multiple timeframes simultaneously. By combining data from three different timeframes, this indicator provides a holistic perspective on market trends and key levels. The adaptive nature of this tool ensures a dynamic assessment of support and resistance zones, empowering traders to adapt to changing market conditions efficiently.
⚙️SETTINGS
1. General Configration
Support & Resistance Count -> Select between 1-3 support & resistance zones for each timeframe.
Pivot Range -> The pivot range is taken into calculations when finding high & low pivots in the chart. Increase if you need a more general look at the support & support zones, or decrease if you need a more detailed look.
Strength -> The strength of the support & resistance zones are determined by how many times the price touched the zone in the past. You can increase the strength up to 4.
Expand Lines & Zones -> If enabled, the support & resistance zones will be expanded to both left and right infinitely. If disabled, the support & resistance zones will be clamped between the time they are first seen, and the time they become broken.
2. Support & Resistance Zones
Enable Zones -> The support & resitsance lines will be converted to zones if enabled.
Zone Width -> The width of the zones. 1 -> %0.05, 2 -> %0.06, 3 -> %0.075.
3. Timeframes
Enable & Disable up to 3 different timeframes using the checkboxes. You can set the timeframes using the selectboxes.
4. Breaks & Retests
Show Breaks -> Points the break points with a blue label with the text "B" on it.
Show Retests -> Points the times when the support & resistance zones are being retested in the current chart.
Avoid False Breaks -> If enabled, the algorithm will try to avoid false break points by comparing the average volume of the point to a longer average volume.
Break Volume Threshold % -> If "Avoid False Breaks" option is enabled, the average volume of the break point should surpass the general average volume by this percent. Higher values mean it's less likely to be a break.
Inverse Color After Broken -> As broken support & resistance zones often become resistance & support zones respectively, if you enable this option the broken zones will inverse their color.
5. Alerts
To make the alerts work, you'll need to add an alert to the chart using the TradingView® alert feature.
Enable Retest Alerts -> You will receive alerts when restests happen on any of the support & resistance zones. "Show Retests" option needs to be enabled to get alerts of this category.
Enable Break Alerts -> You will receive alerts when breaks happen on any of the support & resistance zones.
[PUZ] MACD MTB System MTFMACD Moving Average convergence/divergence
Here are a little articel how the MACD is calculated an how you can use it.
en.wikipedia.org
This Indicator have many differet spezifications than a normal MACD.
You can use different timeframes.
The histogramm workes a litle bit smother
The signalline have two different colors:
He is blue when the macd line is greater than the signalline and the signalline is red when the macd line is smaller than the signalline.
The macd line habe three different colores:
Color green when the macd line is greater than the macd line one period back and the macd line is under the signal line.
Color yellow when the macd line is smaller than the macd line one period back and the macd line is greater than the signalline.
Color gray when the conditions fot color yellow an green are not true
Three different types for Signals
The L1 signal show you a triange when the macd ist crossover or crossunder the signal line, you can use the L1 Threshold to filter the signals.
For example the L1 long threshold is equal to 0 than the Indicator show you only L1 long singnals when the crossover from the macd line to the signal line is smaller than 0.
This works like the same for all Signals (L2 signals / L3 signals)
The L2 signals show you a bigger triangle when the color from the macd line is eqal to yellow or green, you can use the L2 Threshold to filter the signals.
The L3 signals show you a green or red diamond when the histogramm is rising or falling, you can use the L3 Threshold to filter the signals.
Multibit Signal Compatible Indicator with DJMAD Multibit System
This Pine Script indicator is designed to function as part of the Multibit Signal System developed by DJMAD. It encompasses a comprehensive implementation of a MACD-based trading strategy with multiple threshold levels, color-coded signals, alert functionalities, and seamless compatibility with the Multibit Signal System for more sophisticated signal analysis and trading strategies.
Signal Daisychain:
Provides a configurable interface (Signal_Channel_Line1 to Signal_Channel_Line6) that allows users to select channel lines for Long and Short conditions, specifically designed for compatibility with the Multibit Signal System.
Multibit Signal Integration:
Utilizes functions from DJMAD's Signal_transcoder_library to encode and decode signals, ensuring compatibility with the Multibit Signal System for advanced signal processing and strategy development.
For more Informations about the Multibit System please look at djmad Tradingview Profile.
Vwap MTFExplanatory Note: VWAP Multi-Timeframe Script (Dedicated to Intraday Trading)
Description:
This Pine script has been specifically designed for intraday traders to display the VWAP (Volume Weighted Average Price) from four different timeframes (15 minutes, 1 hour, 4 hours, and daily) on a single TradingView chart. The VWAP is calculated by considering the volume-weighted average price over a specified period, providing a perspective on the market's average value. This script streamlines your analysis by avoiding the need to navigate through multiple timeframes to identify the trend.
Usage Instructions:
Apply the script to your TradingView chart.
The script will showcase the average VWAP for 15 minutes, 1 hour, 4 hours, and daily on the current chart.
The color of the VWAP indicates the direction: blue if the VWAP is higher than the previous period, red otherwise.
Parameters:
VWAP Period Length (length): The length of the period used for VWAP calculation. By default, the length is set to 30 bars.
Explanation of VWAP: "This VWAP will be more precise for your analysis and closer to price/volume."
VWAP is a crucial indicator for intraday traders, taking into account transaction volume. It provides a volume-weighted average price over a specified period, assisting traders in evaluating the average value at which an asset has been traded throughout the day. "It can be wise for the self-directed investor to use VWAP in combination with moving averages or other technical indicators to confirm buy and sell signals."
You have the option to change the colors.
3x MTF MACD v3.0MACD's on 3 different Time Frames
Indicator Information
- Each Time Frame shows start of Trend and end of trend of the MACD vs the Signal Cross
- They are labled 1,2,3 with respective up or down triangle for possible direction.
User Inputs
- configure the indicator by specifying various inputs. These inputs include colors for bullish
and bearish conditions, the time frame to use, whether to show a Simple Moving Average
(SMA) line, and other parameters.
- Users can choose time frames for analysis (like 30 minutes, 1 hour, etc.)
but they must be in mintues.
- The code also allows users to customize how the indicator looks on the chart by providing
options for position and color.
Main Calculations
- The script calculates the Simple Moving Average (SMA) based on the user-defined time
frame.
- It then determines the color of the plot (line) based on certain conditions, such as whether
the SMA is rising or falling. These conditions help users quickly identify market trends.
Label Creation
- The code creates labels that can be displayed on the chart.
These labels indicate whether there's a bullish or bearish signal.
Level Detection
- The script determines and labels key levels or points of interest in the chart based on
certain conditions.
- It can show labels like "①" and "▲" for bullish conditions and "▼" for bearish conditions.
Table Display
- There's an option to show a table on the chart that displays information about the MACD
indicator Chosen and the NUmber Bubble assocated with that time frame
- The table can include information like which time frame is being analyzed, whether the SMA
line is shown, and other relevant data.
Plotting on the Chart
- The script plots the Simple Moving Average (SMA) on the chart. The color of this line
changes based on the calculated trend conditions.
ATR (Average True Range)
- The script also plots the Average True Range (ATR) on the chart. ATR is used to measure
market volatility.
"In essence, this script is a highly customizable MACD and SMA indicator for traders. It assists traders in comprehending market trends, offering insights into different MACD cycles concerning various timeframes.
Users can configure it to match their trading strategies, and it presents information in a user-friendly manner with colors, labels, and tables.
This simplifies market analysis, allowing traders to make more informed decisions without the distraction of multiple indicators."
MTF_DrawingsLibrary 'MTF_Drawings'
This library helps with drawing indicators and candle charts on all timeframes.
FEATURES
CHART DRAWING : Library provides functions for drawing High Time Frame (HTF) and Low Time Frame (LTF) candles.
INDICATOR DRAWING : Library provides functions for drawing various types of HTF and LTF indicators.
CUSTOM COLOR DRAWING : Library allows to color candles and indicators based on specific conditions.
LINEFILLS : Library provides functions for drawing linefills.
CATEGORIES
The functions are named in a way that indicates they purpose:
{Ind} : Function is meant only for indicators.
{Hist} : Function is meant only for histograms.
{Candle} : Function is meant only for candles.
{Draw} : Function draws indicators, histograms and candle charts.
{Populate} : Function generates necessary arrays required by drawing functions.
{LTF} : Function is meant only for lower timeframes.
{HTF} : Function is meant only for higher timeframes.
{D} : Function draws indicators that are composed of two lines.
{CC} : Function draws custom colored indicators.
USAGE
Import the library into your script.
Before using any {Draw} function it is necessary to use a {Populate} function.
Choose the appropriate one based on the category, provide the necessary arguments, and then use the {Draw} function, forwarding the arrays generated by the {Populate} function.
This doesn't apply to {Draw_Lines}, {LineFill}, or {Barcolor} functions.
EXAMPLE
import Spacex_trader/MTF_Drawings/1 as tf
//Request lower timeframe data.
Security(simple string Ticker, simple string New_LTF, float Ind) =>
float Value = request.security_lower_tf(Ticker, New_LTF, Ind)
Value
Timeframe = input.timeframe('1', 'Timeframe: ')
tf.Draw_Ind(tf.Populate_LTF_Ind(Security(syminfo.tickerid, Timeframe, ta.rsi(close, 14)), 498, color.purple), 1, true)
FUNCTION LIST
HTF_Candle(BarsBack, BodyBear, BodyBull, BordersBear, BordersBull, WickBear, WickBull, LineStyle, BoxStyle, LineWidth, HTF_Open, HTF_High, HTF_Low, HTF_Close, HTF_Bar_Index)
Populates two arrays with drawing data of the HTF candles.
Parameters:
BarsBack (int) : Bars number to display.
BodyBear (color) : Candle body bear color.
BodyBull (color) : Candle body bull color.
BordersBear (color) : Candle border bear color.
BordersBull (color) : Candle border bull color.
WickBear (color) : Candle wick bear color.
WickBull (color) : Candle wick bull color.
LineStyle (string) : Wick style (Solid-Dotted-Dashed).
BoxStyle (string) : Border style (Solid-Dotted-Dashed).
LineWidth (int) : Wick width.
HTF_Open (float) : HTF open price.
HTF_High (float) : HTF high price.
HTF_Low (float) : HTF low price.
HTF_Close (float) : HTF close price.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Two arrays with drawing data of the HTF candles.
LTF_Candle(BarsBack, BodyBear, BodyBull, BordersBear, BordersBull, WickBear, WickBull, LineStyle, BoxStyle, LineWidth, LTF_Open, LTF_High, LTF_Low, LTF_Close)
Populates two arrays with drawing data of the LTF candles.
Parameters:
BarsBack (int) : Bars number to display.
BodyBear (color) : Candle body bear color.
BodyBull (color) : Candle body bull color.
BordersBear (color) : Candle border bear color.
BordersBull (color) : Candle border bull color.
WickBear (color) : Candle wick bear color.
WickBull (color) : Candle wick bull color.
LineStyle (string) : Wick style (Solid-Dotted-Dashed).
BoxStyle (string) : Border style (Solid-Dotted-Dashed).
LineWidth (int) : Wick width.
LTF_Open (float ) : LTF open price.
LTF_High (float ) : LTF high price.
LTF_Low (float ) : LTF low price.
LTF_Close (float ) : LTF close price.
Returns: Two arrays with drawing data of the LTF candles.
Draw_Candle(Box, Line, Offset)
Draws HTF or LTF candles.
Parameters:
Box (box ) : Box array with drawing data.
Line (line ) : Line array with drawing data.
Offset (int) : Offset of the candles.
Returns: Drawing of the candles.
Populate_HTF_Ind(IndValue, BarsBack, IndColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF indicator.
Parameters:
IndValue (float) : Indicator value.
BarsBack (int) : Indicator lines to display.
IndColor (color) : Indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: An array with drawing data of the HTF indicator.
Populate_LTF_Ind(IndValue, BarsBack, IndColor)
Populates one array with drawing data of the LTF indicator.
Parameters:
IndValue (float ) : Indicator value.
BarsBack (int) : Indicator lines to display.
IndColor (color) : Indicator color.
Returns: An array with drawing data of the LTF indicator.
Draw_Ind(Line, Mult, Exe)
Draws one HTF or LTF indicator.
Parameters:
Line (line ) : Line array with drawing data.
Mult (int) : Coordinates multiplier.
Exe (bool) : Display the indicator.
Returns: Drawing of the indicator.
Populate_HTF_Ind_D(IndValue_1, IndValue_2, BarsBack, IndColor_1, IndColor_2, HTF_Bar_Index)
Populates two arrays with drawing data of the HTF indicators.
Parameters:
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
IndColor_1 (color) : First indicator color.
IndColor_2 (color) : Second indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Two arrays with drawing data of the HTF indicators.
Populate_LTF_Ind_D(IndValue_1, IndValue_2, BarsBack, IndColor_1, IndColor_2)
Populates two arrays with drawing data of the LTF indicators.
Parameters:
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
IndColor_1 (color) : First indicator color.
IndColor_2 (color) : Second indicator color.
Returns: Two arrays with drawing data of the LTF indicators.
Draw_Ind_D(Line_1, Line_2, Mult, Exe_1, Exe_2)
Draws two LTF or HTF indicators.
Parameters:
Line_1 (line ) : First line array with drawing data.
Line_2 (line ) : Second line array with drawing data.
Mult (int) : Coordinates multiplier.
Exe_1 (bool) : Display the first indicator.
Exe_2 (bool) : Display the second indicator.
Returns: Drawings of the indicators.
Barcolor(Box, Line, BarColor)
Colors the candles based on indicators output.
Parameters:
Box (box ) : Candle box array.
Line (line ) : Candle line array.
BarColor (color ) : Indicator color array.
Returns: Colored candles.
Populate_HTF_Ind_D_CC(IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, IndColor_1, HTF_Bar_Index)
Populates two array with drawing data of the HTF indicators with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bear color.
IndColor_1 (color) : First indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Three arrays with drawing and color data of the HTF indicators.
Populate_LTF_Ind_D_CC(IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, IndColor_1)
Populates two arrays with drawing data of the LTF indicators with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
IndColor_1 (color) : First indicator color.
Returns: Three arrays with drawing and color data of the LTF indicators.
Populate_HTF_Hist_CC(HistValue, IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF histogram with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
HistValue (float) : Indicator value.
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
HTF_Bar_Index (int) : HTF bar_index
Returns: Two arrays with drawing and color data of the HTF histogram.
Populate_LTF_Hist_CC(HistValue, IndValue_1, IndValue_2, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF histogram with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
HistValue (float ) : Indicator value.
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two array with drawing and color data of the LTF histogram.
Populate_LTF_Hist_CC_VA(HistValue, Value, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF histogram with color based on: HistValue >= Value ? BullColor : BearColor.
Parameters:
HistValue (float ) : Indicator value.
Value (float) : First indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two array with drawing and color data of the LTF histogram.
Populate_HTF_Ind_CC(IndValue, IndValue_1, BarsBack, BullColor, BearColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF indicator with color based on: IndValue >= IndValue_1 ? BullColor : BearColor.
Parameters:
IndValue (float) : Indicator value.
IndValue_1 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
HTF_Bar_Index (int) : HTF bar_index
Returns: Two arrays with drawing and color data of the HTF indicator.
Populate_LTF_Ind_CC(IndValue, IndValue_1, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF indicator with color based on: IndValue >= IndValue_1 ? BullColor : BearColor.
Parameters:
IndValue (float ) : Indicator value.
IndValue_1 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two arrays with drawing and color data of the LTF indicator.
Draw_Lines(BarsBack, y1, y2, LineType, Fill)
Draws price lines on indicators.
Parameters:
BarsBack (int) : Indicator lines to display.
y1 (float) : Coordinates of the first line.
y2 (float) : Coordinates of the second line.
LineType (string) : Line type.
Fill (color) : Fill color.
Returns: Drawing of the lines.
LineFill(Upper, Lower, BarsBack, FillColor)
Fills two lines with linefill HTF or LTF.
Parameters:
Upper (line ) : Upper line.
Lower (line ) : Lower line.
BarsBack (int) : Indicator lines to display.
FillColor (color) : Fill color.
Returns: Linefill of the lines.
Populate_LTF_Hist(HistValue, BarsBack, HistColor)
Populates one array with drawing data of the LTF histogram.
Parameters:
HistValue (float ) : Indicator value.
BarsBack (int) : Indicator lines to display.
HistColor (color) : Indicator color.
Returns: One array with drawing data of the LTF histogram.
Populate_HTF_Hist(HistValue, BarsBack, HistColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF histogram.
Parameters:
HistValue (float) : Indicator value.
BarsBack (int) : Indicator lines to display.
HistColor (color) : Indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: One array with drawing data of the HTF histogram.
Draw_Hist(Box, Mult, Exe)
Draws HTF or LTF histogram.
Parameters:
Box (box ) : Box Array.
Mult (int) : Coordinates multiplier.
Exe (bool) : Display the histogram.
Returns: Drawing of the histogram.
Sync Frame (MTF Charts) [Kioseff Trading]Hello!
This indicator "Sync Frame" displays various lower timeframe charts for the asset on your screen!
5 lower timeframe candle charts shown
Timeframes auto-calculated using the new timeframe.from_seconds() function
Heikin-Ashi candles available
Baseline chart type available
Dynamic Scaling for ease of use
User customizable timeframes
Simple script (:
The image above shows the baseline chart type.
Time image above shows a traditional candlestick chart.
The image above shows a hekin-ashi chart.
The image above shows the indicator when nearly zoomed in as much as possible. The lower timeframe charts adjust to my chart positioning.
The image above shows my screen fully zoomed out; the lower timeframe charts adjust in both height and width to accommodate my chart positioning!
Thank you for checking this out (:
TMA MTFThis indicator plots three different Triple Moving Averages (TMAs) for two different time frames on a price chart:
Middle TMA Line: This is the main TMA line, calculated based on a user-defined number of past bars. It's represented by a solid line on the chart.
Upper TMA Line: This line is calculated by adding a certain multiple of the Average True Range (ATR) to the main TMA line. It helps identify potential resistance levels and is plotted as a solid line.
Lower TMA Line: Similar to the upper line, this line is calculated by subtracting a multiple of the ATR from the main TMA line. It helps identify potential support levels and is also plotted as a solid line.
Additionally, you have the option to overlay these TMA lines on a higher timeframe (HTF) if desired. When you enable this feature, it plots the same three TMA lines but calculated using data from a higher timeframe, which can provide additional context for your trading decisions.
The indicator uses different colors for the TMA lines based on their relationships:
Green: The middle TMA line is above the higher timeframe middle TMA line, suggesting a potential bullish (upward) trend.
Red: The middle TMA line is below the higher timeframe middle TMA line, suggesting a potential bearish (downward) trend.
In addition, it plots the upper and lower TMA lines in shades of purple and maroon, respectively, on the higher timeframe for reference.
Overall, this indicator helps traders identify potential areas of support and resistance and assess the trend direction by comparing the TMA lines of different timeframes.
Variable:
TMA_Period:
This input variable allows you to specify the number of past bars that are used to calculate the main Triple Moving Average (TMA) line. A larger value will result in a smoother TMA line, while a smaller value will make it more responsive to recent price changes.
ATR_Period:
This input variable determines the number of past bars used to calculate the Average True Range (ATR). The ATR is a measure of price volatility. A longer ATR period considers a broader range of price movement, while a shorter period reacts more quickly to recent volatility.
ATR_Multiplier:
This input allows you to set a multiplier for the ATR on the current timeframe. The ATR value is multiplied by this factor to calculate the upper and lower TMA lines. A higher multiplier will result in wider TMA bands, while a lower multiplier will make them narrower.
ATR_Multiplier_HTF:
Similar to ATR_Multiplier, this input sets a multiplier for the ATR on a higher timeframe (HTF). It affects the width of the HTF TMA bands.
TF_1:
This input variable lets you choose the desired higher timeframe (HTF) for the indicator. You can select from various timeframes, including 1 minute, 5 minutes, 15 minutes, 30 minutes, 60 minutes, 240 minutes (4 hours), daily (D), weekly (W), monthly (M), or choose "Auto" to let the script automatically determine the HTF based on the current timeframe.
src:
This input allows you to choose the price source used for calculations. By default, it's set to 'close,' which means the closing prices of each bar are used. You can change this to other price sources like 'open,' 'high,' 'low,' or 'ohlc4' (a combination of open, high, low, and close prices).
ma_type:
This input lets you select the type of moving average used in the calculations. You have three options: Weighted Moving Average (WMA), Double Weighted Moving Average (DWMA), and Triple Weighted Moving Average (TWMA).
Plot_TMA_HTF_Midline:
If set to 'true,' it will plot the middle TMA line of the higher timeframe (HTF) on the chart. If set to 'false,' the HTF middle TMA line will not be displayed.
Stochastic Trend mtfDefinition
The Stochastic RSI indicator (Stoch RSI) is actually an indicator of an indicator. It is used in technical analysis to provide a stochastic calculation to the RSI indicator. This means it's an RSI measure relative to its own high/low range over a user-defined time period. Stochastic RSI is an oscillator that calculates a value between 0 and 1 and then plots it as a line. This indicator is primarily used to identify overbought and oversold conditions.
It is important to remember that the Stoch RSI is an indicator of an indicator that is two steps away from the price. The RSI is one step away from the price and therefore a stochastic calculation of the RSI is two steps away. This is important because as with any indicator that is more than one step away from price, the Stoch RSI can be short-term disconnected from actual price action. However, as a range-bound indicator, the Stoch RSI's primary function is to identify cross-bought, overbought and oversold conditions.
Use
When we integrate it into our chart in the upper time frame, it both gives the direction of the trend more healthy and is more efficient in terms of noise reduction in terms of leaving the overbought-sold zones. Unlike the classic stochastic, I set the "d" value to 8. Even though the trend returns are a little late, we see healthier data on our graph. Trend changes in overbought zones are getting stronger. Coloring red indicates that the trend is selling, while painting green indicates that the trend is buying. I hope you find it useful, if you have any questions or suggestions, please feel free to ask.
Good luck...
It is not investment advice.
Buying Selling Volume StrategyFirst I would like to give the original credit and thanks to @ceyhun for his amazing volume script.
The way I decided to convert it into a strategy is divided into multiple types.
First, I decided in order to smooth out the values and make it more accurate to adapt the values to multiple timeframes.
After that I took the initial values from the buyers and sellers , and made a rest operation between them to have a flat difference between the power of both sides.
WIth that later on I decided to to apply a volatility filter,in this case bollinger bands, in order to find out potential leading trends.
At the same time in order to filter even more, I decided to make use as well for weekly VWAP values of the asset used.
Lastly I added a dynamic risk management into it , based on the ATR Daily values of the asset values.
As for the rules used, for example for long, I am looking that the price of the asset is above the weekly VWAP, after that I am checking that the MTF volume rest operation is both bullish and above the upper side of the bollinger.
For short we would want the asset to be below the weekly VWAP, and the volume to be bearish and above the upper side of bollinger.
The exit is either based on daily ATR values multipliers, or if we have a reverse condition.
If you have any questions, please let me know !
Range Based Signals and AlertsThis script produces a compiled version of rule based signals that is meant to be used mainly on 5 Min timeframe based on daily(as default) Highs and Lows on average and the main purpose is to give user settings to change and adapt based on their needs and make it as adjustable as possible. This entry strategy idea does not belong to me but for TV's in-house rule reasons i can't disclose whose idea it is but i think people that will use this indicator will know who the original idea belongs to.
Rules used for signal production:
- Daily(As default) High-Low points
- Moving Average for detecting reversing of price
- MTF MACD (Daily as default) for detecting overall trend
Signals produced based on extensions of price out of daily zones and when they drop or rise back into moving average. A conditional checker is used for reducing repeated unnecessary signals and alerts.
Happy trading.
RedK Relative Strength Ribbon: RS Ribbon and RS ChartsRedK Relative Strength Ribbon (RedK RS_Ribbon) is TA tool that plots the Relative Strength of the current chart symbol against another symbol, or an index of choice. It enables us to see when a stock is gaining strength (or weakness) relative to (an index that represents) the market, and when it hits new highs or lows of that relative strength, which may lead to better trading decisions.
I searched TV for existing RS indicators but didn't find what I really wanted, so I put this together and added some additional features for my own use. It started as a simple RS line with new x-weeks Hi/Lo markers, then evolved into what you see here in v1.0 with the ability to plot a full RS chart in regular or HA candle types. Hope this will be useful to some other growth traders here on TV.
What is Relative Strength (RS)
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(RS is a comprehensive concept in TA, below is a quick summary - please research further if it's not already a familiar topic)
Relative Strength (RS) is a technical concept / indicator used mainly by growth / swing / momentum traders to compare the performance of one security or asset against another. RS measures the price performance of a specific security relative to a benchmark, such as an index or another asset. It's not to be confused with the famous Relative Strength Index (RSI) technical indicator
For example, In the context of comparing a stock's relative strength to the SPY (S&P 500) index, the relative strength calculation involves dividing the stock's price or price-related value (e.g., close price) by the corresponding value of the SPY index. The resulting ratio (and its trend over time) indicates the relative performance of the stock compared to the index.
Traders and investors use relative strength analysis to identify securities that have been showing relative strength or weakness compared to a benchmark, which can help in making investment decisions or identifying the "market leaders" and potential trading opportunities.
There are so many books and documentation about the RS concept and its importance to identify market leaders, especially when recovering from a bear market - if you're interested in the concept, please search more about it and review some of that literature. There's also a more detailed definition of Relative Strength in this article on Invstopedia
RedK RS_Ribbon features and options
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The indicator settings provide many options and features - see the settings box below
- Change / choose base symbol
The default is to use SPY as the base symbol - so we're comparing the chart's symbol to a proxy of the S&P 500 - Some traders may prefer to use the QQQ - or other index or ETF that acts as a proxy for the industry / sector / market they are trading
- RS Calculation / RS line
we use the simple form of the RS calculation,
RS = closing price of current chart symbol / closing price of the base symbol (default is SPY) * 100
some RS documentation will use the Rate of Change (RoC) - but that's not what we're using here.
- The RS_Ribbon
* Once the RS line is plotted, it made sense to add couple of moving averages to it, to make it easier to observe the trend of the RS and the changes in that trend as you can see in the sample chart on top.
* The RS_Ribbon is made up of a fast and slow moving averages and will change color (green / red) based on detected trend RS direction - the 2 MA types and lengths can be changed until you get the setup that provides the best view for you of the RS trend over time. My preferred settings are used as defaults here.
- Identifying New (x)Week Hi/Lo RS Values
* Most traders would be interested when the calculated RS hits a new 52-week high or low value.
* There are cases where we may want to see when a new RS Hi/Lo has been hit for a different period - for example, a quarter (13 weeks)
* the number of weeks can be changed as well as adjusting the numbers of trading days per week (if needed for certain symbols/exchanges)
- Working with Different Timeframes
* Now these "markers" will only be available in the daily and weekly timeframes and there is a good reason for that, it's not the fact that i'm lazy :) and that enabling this in timeframes lower than 1D would have been some heavy lifting, but the reality is that with RS, we're really interested if a "day's close" hits a new RS high or low value against the moving window of x weeks (and the weeks close also) - if you think of this more, at lower TF, RS can hit a lower value that never end up registering on the daily closing and that causes a lot of visual confusion. So i took the "cleaner way out" of that issue.
* note that you can choose a different timeframe for the RS_Ribbon than the chart - if you do, please make sure the chart is at a lower timeframe than the indicator's - (and in that case remember to hide the candles because they won't make much sense)
i wanted to leverage TV's built-in multi-Timeframe (MTF) support with the caveat that using the indicator at lower TF with a chart at a higher TF (example chart at 1Wk and indicator at 1D) will show inaccurate results. If this sounds confusing, keep the indicator TF same as the chart.
the example here shows a 2-Hr chart against 1D RS_Ribbon
- Using RS Charts and RS Candles
* Beside the ability to plot the RS "closing" value with the RS line, the indicator provides the ability to show a "full" RS Chart with candles that represent the relative values of open, high, low. and close against the base symbol.
* the RS Charts can be used for regular chart analysis, for example, we can identify common chart patterns like Cup & Handle, VCP, Head & Shoulder..etc using these charts .. which can provide some edge over the price charts
* for the Heikin Ashi fans, I added the ability to choose classic or HA candles for the chart. note you have to enable the option to show the RS candles first before you choose the option to switch to HA.
The chart below shows a side-by-side comparison on the 2 RS chart types
Closing remarks
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* RS is a good way to identify market/sector leaders (who will usually recover from a bear market before others) - and enable us to see the strength that comes from the broader makrket versus the one that comes from the stock's own performance and identify good trading opportunities
* I'll continue to update this work and alerts will come in next version - but wanted to check initial reaction and value
* as usual, if you decide to use this in your chart analysis, it's necessary to combine with other momentum, trend, ...etc indicators and do not make trading decision only based on the signales from a single indicator
RSI MTF [Market Yogi]The Multi-Time Frame RSI with Money Flow Index and Average is a powerful trading indicator designed to help traders identify overbought and oversold conditions across multiple time frames. It combines the Relative Strength Index (RSI) with the Money Flow Index (MFI) and provides an average value for better accuracy.
The Relative Strength Index (RSI) is a popular momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is used to identify overbought and oversold conditions in an asset. By incorporating the RSI across multiple time frames, this indicator offers a broader perspective on market sentiment.
In addition to the RSI, this indicator also includes the Money Flow Index (MFI). The MFI is a volume-based oscillator that measures the inflow and outflow of money into an asset. It takes into account both price and volume, providing insights into the strength and direction of buying and selling pressure.
By combining the RSI and MFI across multiple time frames, traders gain a comprehensive understanding of market dynamics. The indicator allows for comparing the RSI and MFI values across different time frames, enabling traders to identify divergences and potential trend reversals.
Furthermore, this indicator provides an average value of the multi-time frame RSI, offering a consolidated signal that helps filter out noise and enhance the accuracy of trading decisions.
Key Features:
1. Multi-Time Frame RSI: Combines the RSI across different time frames to provide a comprehensive view of market sentiment.
2. Money Flow Index (MFI): Incorporates the MFI to gauge buying and selling pressure based on both price and volume.
3. Average Calculation: Computes the average value of the multi-time frame RSI to generate a consolidated trading signal.
4. Divergence Detection: Enables traders to spot divergences between the RSI and MFI values, indicating potential trend reversals.
5. Overbought and Oversold Levels: Highlights overbought and oversold levels on the RSI, aiding in timing entry and exit points.
The Multi-Time Frame RSI with Money Flow Index and Average is a versatile tool that can be applied to various trading strategies, including trend following, swing trading, and mean reversion. Traders can adjust the time frame settings to suit their preferences and trading style.
Note: It's important to use this indicator in conjunction with other technical analysis tools and indicators to validate signals and make informed trading decisions.
90 Minute Cycles + MTFCredit goes to LuxAlgo for the inspiration from 'Sessions' which allowed users to analyse specific price movements within a user defined period with tools such as trendline, mean and vwap.
Settings
Sessions
Enable Session: Allows to enable or disable all associated elements with a specific user set session.
Session Time: Opening and closing times of the user set session in the hh:mm format.
Range: Highlights the associated session range on the chart.
Ranges Settings
Range Area colour: Set each range to a specific colour.
Range Label: Shows the session label at the mid-point of the session interval.
Usage
By breaking 24hrs in quarters, starting with an Asian range of 18:00 NY time you can visualise the principles of Accumulation, Manipulation, Distribution and Rebalance. Know as AMD or PO3 (Power of Three), the principle is that the Manipulation phase will break above or below the Accumulation, before moving in an apposing direction and then rebalancing. This only works when there is a higher timeframe PD array or liquidity to support an apposing move.
Further to the daily quarters, each one can then be broken down again into 90min cycles. Again, each represents AMD, allowing the user an opportunity to watch for reversals during the 90min manipulation phase.
Note: Ensure the Asian Cycle always begins at 18:00 NY time.
The example shows that the 90min cycle occurs, followed by an apposing move away in price action
Here is the Daily cycle, highlighting the Manipulation phase.
Enjoy!
Moving Averages + BB & R.VWAP StDev (multi-tf)█ Moving Averages + Bollinger Bands and Rolling Volume Weighted Average Price with Standard Deviation Bands (Multi Timeframe)
Multiple moving averages can be independently applied.
The length , type and timeframe of each moving average are configurable .
The lines and colors are customizable too.
This script can display:
Moving Averages
Bollinger Bands
Rolling VWAP and Standard Deviation Bands
Types of Moving Averages:
Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Smoothed Moving Average (SMMA)
Weighted Moving Average (WMA)
Volume Weighted Moving Average (VWMA)
Least Squares Moving Average (LSMA)
Hull Moving Average (HMA)
Arnaud Legoux Moving Average (ALMA)
█ Moving Average
Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time.
A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance.
█ Bollinger Bands
Bollinger Bands consist of a band of three lines which are plotted in relation to security prices.
The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader, a 20 day moving average is by far the most popular).
The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price.
█ Rolling VWAP
The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day.
Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe.
You can thus use the rolling VWAP on any chart that includes volume information in its data feed.
Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset.
Based on the previous script :
Normalized Elastic Volume Oscillator (MTF)The Multi-Timeframe Normalized Elastic Volume Oscillator combines volume analysis with multiple timeframe analysis. It provides traders with valuable insights into volume dynamics across different timeframes, helping to identify trends, potential reversals, and overbought/oversold conditions.
When using the Multi-Timeframe Normalized Elastic Volume Oscillator, consider the following guidelines:
Understanding Input Parameters : The indicator offers customizable input parameters to suit your trading preferences. You can adjust the EMA length (emaLength), scaling factor (scalingFactor), volume weighting option (volumeWeighting), and select a higher timeframe for analysis (higherTF). Experiment with these parameters to optimize the indicator for your trading strategy.
Multiple Timeframe Analysis : The Multi-Timeframe Normalized Elastic Volume Oscillator allows you to analyze volume dynamics on both the current timeframe and a higher timeframe. By comparing volume behavior across different timeframes, you gain a broader perspective on market trends and the strength of volume deviations. The higher timeframe analysis provides additional confirmation and helps identify more significant market shifts.
Normalized Values : The indicator normalizes the volume deviations on both timeframes to a consistent scale between -0.25 and 0.75. This normalization makes it easier to compare and interpret the oscillator's readings across different assets and timeframes. Positive values indicate bullish volume behavior, while negative values suggest bearish volume behavior.
Interpreting the Indicator : Pay attention to the position of the Multi-Timeframe Normalized Elastic Volume Oscillator lines relative to the zero line on both timeframes. Positive values on either timeframe indicate a bullish bias, while negative values suggest a bearish bias. The distance of the oscillator from the zero line reflects the strength of the volume deviation. Extreme readings, both positive and negative, may indicate overbought or oversold conditions, potentially signaling a trend reversal or exhaustion.
Combining with Other Indicators : For more robust trading decisions, consider combining the Multi-Timeframe Normalized Elastic Volume Oscillator with other technical analysis tools. This could include trend indicators, support/resistance levels, or candlestick patterns. By incorporating multiple indicators, you gain additional confirmation and increase the reliability of your trading signals.
Remember that the Multi-Timeframe Normalized Elastic Volume Oscillator is a valuable tool, but it should not be used in isolation. Consider other factors such as price action, market context, and fundamental analysis to make well-informed trading decisions. Additionally, practice proper risk management and exercise caution when executing trades.
By utilizing the Multi-Timeframe Normalized Elastic Volume Oscillator, you gain a comprehensive view of volume dynamics across different timeframes. This knowledge can help you identify potential market trends, confirm trading signals, and improve the timing of your trades.
Take time to familiarize yourself with the indicator and conduct thorough testing on historical data. This will help you gain confidence in its effectiveness and align it with your trading strategy. With experience and continuous evaluation, you can harness the power of the Multi-Timeframe Normalized Elastic Volume Oscillator to make informed trading decisions.
RSI MTF DashboardThis is an RSI dashboard, which allows you to see the current RSI value for five timeframes across up to 8 tickers of your choice. This is a useful tool to gauge momentum across multiple timeframes, where you would look to enter a buy with high RSI values across the timeframes (and vice versa for sell positions).
Conversely, some traders use RSI to identify potential areas for reversals, so you would look to buy with low RSI values (and vice versa for sell positions).
In the settings, please select which 5 timeframes you require. Then select which tickers you wish to see, and you will find a dashboard on your chart to show the RSI values. The dashboard can be highlighted when the RSI value shows bearish momentum (a value under 50, of your choice) and bullish momentum (a value over 50, again of your choice). These colours and values are fully customisable.
In the settings you can also select the location of the dashboard, as well as some colour and transparency settings to enable the best possible view on screen.
Multi-Timeframe Trend TableThis is the first publication of an indicator to show trend on the higher timeframes and is an English version of the "Mtf Supertrend Table" coded by FxTraderProAsistan. Credit goes to him for the genesis of this work. I updated the original code to Pinescript V.5 and modified it to suit my needs. Please enjoy.
This trend table indicator has the following features:
1. Trend Mode : Option to select the method of determining trend, using the Pinescript built-in ta.supertrend function or finding trend based on the cross of 20 and 50 EMA
2. 6 trend timeframes of your choosing, with show/hide
3. Optional feature to include the DXY (US dollar) trends, for the timeframes chosen. Useful for instruments that react to changes in the US dollar
4. ATR settings to adjust the Supertrend parameters. Default values are an ATR length of 10 and a Factor of 3
Multi-Timeframe High Low (@JP7FX)Multi-Timeframe High Low Levels (@JP7FX)
This Price Action indicator displays high and low levels from a selected timeframe on your current chart.
These levels COULD represent areas of potential liquidity, providing key price points where traders can target entries, reversals, or continuation trades.
Key Features:
Display high and low levels from a selected timeframe.
Customize line width, colors for high and low levels, and label text color.
Enable or disable the display of high levels, low levels, and labels.
Receive alerts when the price takes out high or low levels.
How to use:
It is important to note that using this indicator on it's own is not advisable. Instead, it should be combined with other tools and analysis for a more comprehensive trading strategy.
Possibly look to use my MTF Supply and Demand Indicator to look for zones to trade from at these levels?
If the price breaks above a high level, you might consider entering a long position, with the expectation that the price will continue to rise. Conversely, if the price breaks below a low level, you may think about entering a short position, anticipating further downward movement.
On the other hand, you can also use high or low levels to look for reversal trades, as these areas can represent attractive liquidity zones.
By identifying these key price points, you could take advantage of potential market reversals and capitalise on new trading opportunities.
Always remember to use this indicator in conjunction with other technical analysis tools for the best results.
Additionally, you can enable alerts to notify you when the price takes out high or low levels, helping you stay informed about significant price movements.
This indicator could be a valuable tool for traders looking to identify key price points for potential trading opportunities.
As always with the markets, Trade Safe :)
Cloud Bunching [5ema]Reused some functions from (i believe made by):
©paaax: The table position function.
@QuantNomad: The function calculated value and array screener for 40+ instruments .
How it uses:
Gives signal when the cloud is bunching with ratio smaller than the set ratio and the close price breaking out the cloud.
Track 40 different symbols, on any timeframe to follow and alert.
When a symbol has a signal, it will display on the chart and send an alert.
How it works:
The cloud created by 5 EMA (20, 50, 200, 460, 610). Upper Cloud is max EMA , Lower Cloud is min EMA . Center line is averange (5 EMA )
If the ratio upper / lower < input bunching (%) -> change color of cloud.
Get the signal if: the close price break out cloud (with bar is shooting, or hammer ,...) and high volume (or not).
With another symbols (max 40 ) also use that function with any time frame. By request.security() and array function.
How it setting:
Change the bunching rate (%) of the clouds for any symbols.
Change the percentage (%) of the close price that breaks out of the bunching cloud.
Choose volume condition.
Show or turn off the cloud, table.
Select the symbol to follow.
Choose a timeframe to follow other symbols.
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Swing Levels and Liquidity - By LeviathanThis script will plot pivot points (swing highs and lows) in the form of lines, boxes or labels to help you identify market structure, “liquidity” areas, swing failure patterns, etc. You are also able to see the volume traded at each pivot point, which will help you compare their significance.
Bars Left-Right
A pivot high (swing high) is a bar in a series of bars that has a higher value than the bars around it and a pivot low (swing low) is a bar in a series of bars that has a lower value than the bars surrounding it. The Bars Left and Bars Right parameters are used to define the number of bars on the left and right sides of a pivot point that the function should consider when identifying pivot highs and lows in a time series. For example, if Bars Left is set to 5 and Bars Right is set to 6, the function will look for a pivot point by comparing the value of the current bar with the values of the 5 bars to its left and the 6 bars to its right. If the value of the current bar is higher than all of these bars, it is considered a pivot high point. These parameter can be used to adjust the sensitivity of the script (lowering the Bars Left and Bars Right parameters will give you more swing points and increasing the Bars Left and Bars Right parameters will give you fewer swing points).
”Show Boxes” - This will draw a box above the swing high and a box below the swing low to help you visualise a large area of interest around swing points. Additional box types and the width of the box can be adjusted in Appearance settings below.
”Show Lines” - This will draw a horizontal line at the level of each swing high and swing low.
”Show Labels” - This will plot a circle at the high point of each swing high and at the low point of each swing low.
”Show Volume” - This will display the amount of volume traded in a given swing point candle. It can help you identify the significance of a given swing point by comparing it to the volumes of other swing points.
”Extend Until Filled” - This will extend the swing point levels until they are mitigated by the price. Turning it off will continue plotting the levels just a few more bars after a swing point occurs.
”Appearance” - You can show/hide swing points, choose the colors of labels, lines and boxes, choose the size and positioning of the text, choose line and box appearance (adjust the Box Width when switching between timeframes!) and more.
More updates coming soon (MTF, more data…)
Gaps + Imbalances + Wicks (MTF) - By LeviathanThis script will identify and draw price gaps, wicks and imbalances with customizable fill conditions, multi-timeframe function, zone size filtering, volume comparison, lookback filtering, as well as highly customizable appearance and settings.
I’ve made this indicator to combine the three similar but different elements that occur in price movements and serve as significant zones of interest or way of PA interpretation in various different strategies.
Imbalances (or Fair Value Gap/FVG/Inefficiency/whatever)
- The Imbalance “pattern” consists of 3 candles (1- candle before the sharp move, 2 - sharp move candle and 3- candle after the sharp move). When price makes a move downwards, the imbalance zone is defined as the area between the low of 1 and the high of 3 When price makes a move upwards, the imbalance zone is defined as the area between the high of 1 and the low of 3.
Gaps
A price gap is an area on a chart where no trading activity has taken place. A gap up means that the low of the current candle is higher than the high of the previous candle and a gap down means that the high of the current candle is lower than the low of the previous candle.
Wicks (or shadows/tails/whatever)
Wicks are used to indicate where the price has fluctuated relative to the opening and closing price of the candle. An upper wick is the zone between candle high and candle close/open (whichever is higher) and a lower wick is the zone between candle’s low and candle’s close/open (whichever is lower).
Settings Overview
“Zone Type” - This input lets you decide which zones should the script plot and on which timeframe. You should always pick a timeframe higher than your chat’s.
“Middle Line, Top Line, Bottom Line” - Show or hide the Middle Line (horizontal level in the middle of each zone), Show or hide Top Line (horizontal level at the top of the zone), Show or hide Bottom Line (horizontal level at the bottom of the zone)
“UP/DOWN Zones" - This input lets you show/hide UP Zones or DOWN Zones an pick their color, border color and label color.
”Fill Condition” - If turned ON, the zones will end drawing when your prefered Fill Condition is met (Full Filll = price mitigates the whole zone, Half Fill = zone is at least halfway mitigated and Touch = zone is touched by price). If turned OFF, the zones will only be plotted for the amount of bars defined it “Zone Length”.
”Lookback (D)” - This input lets you limit the amount of zones plotted on the chart by choosing how many days back in time should the script go to find and plot zones. For example, input 1 will only show you the zones of the past day, input 7 will only show you the zones of the past week.
”Hide Filled Zones” - If turned ON, the zones that have been filled will be removed from the chart.
”Show Boxes” - Show or hide the boxes that represent the zones. This is useful for those who want the zones to be visualized by just lines.
“Filter Type” - this input lets you create a filter that will make the script only show zones that are larger than ATR or larger than a certain percentage. You can choose the ATR Length and the multiplier (higher multiplier → larger zone required), as well as the Percentage (%) and its multiplier (higher percentage → larger zone required). If you choose “None”, the zones of all sizes will be plotted.
”Zone Labels” - this part of the settings lets you: show/hide labels, decide on the size of the labels and their positions, choose a custom name for each zone, choose the data that the labels present (Type of the zone/Timeframe/ Volume ).
”Other settings” - ‘Stop/Delete zone after X number of candles’ will force stop/delete the zone if it’s plotted for more than prefered number of bars. ‘Line Style’ lets you choose the style and the color of the lines, ‘Zone Length’ defines the length of the zone if Fill Condition is “None”.
More settings, modifications and improvements coming in future updates. This script is a bit old so I will clean up and optimize the code once I have more time.
