CoT artificial by Oster and Freundl (CoF)Overview:
CoF , short for "CoT artificial by Oster and Freundl", presents a novel approach to market analysis, inspired by the traditional Commitments of Traders (CoT) Index . Based on the artificial CoT calculation according to Freundl and Oster (explained below), this indicator provides traders with a versatile tool applicable across various markets, including individual stocks. Unlike its predecessor, CoF offers flexibility in its application, accommodating traders with different investment horizons, whether they operate on weekly, daily, hourly, or even minute candlesticks. By adjusting the period length in the settings, users can fine-tune the sensitivity of CoF to capture buy or sell signals, albeit with differing signal qualities. Additionally, CoF is equipped with alert functionalities, enhancing its usability for traders seeking timely market insights.
Sophisticated Calculation Methodology:
CoF derives its insights from a sophisticated calculation methodology, leveraging price range and price movement metrics to assess market dynamics. The indicator computes the ratio between the moving averages of price movement and price range over a specified period. This ratio, once normalized and scaled to a 0-100 range , provides traders with a quantifiable measure of market sentiment. Notably, CoF's calculation method, while nuanced, ensures accessibility and usability for traders seeking actionable insights without delving into complex mathematical formulations.
Interpretation:
CoF-Index, represented on the chart, offers traders insights into market sentiment dynamics . Values below the sell threshold indicate potential selling pressure, triggering sell alerts to alert traders to potential downturns. Conversely, values exceeding the buy threshold signal buying opportunities, prompting buy alerts for traders to capitalize on potential market upswings. By aligning these interpretations with the trader's investment strategy, CoF aids in decision-making processes, offering nuanced perspectives on market movements.
Dynamic Color Coding for Visual Clarity:
To enhance user experience and facilitate quick decision-making, CoF incorporates dynamic color coding . Market conditions favoring selling are denoted by red hues, while those conducive to buying are highlighted in green. Neutral conditions, indicative of balanced market sentiment, are represented in neutral colors. This intuitive visual feedback enables traders to swiftly identify market opportunities and risks, empowering them to make informed trading decisions.
Customizable Parameters for Tailored Analysis:
Acknowledging the diverse trading preferences and strategies of its users, CoF offers customizable parameters . Traders can adjust the period length to fine-tune the indicator's sensitivity to their desired level, balancing the frequency and quality of signals according to their trading objectives. Additionally, CoF's alert functionalities allow traders to set personalized thresholds, aligning with their risk tolerance and market outlook.
Conclusion:
In conclusion, CoF emerges as a valuable addition to the trader's toolkit, offering a versatile and accessible approach to market analysis. Built upon a foundation of sophisticated calculation methodologies, CoF provides traders with actionable insights into market sentiment across various timeframes and asset classes . Its intuitive visualizations, coupled with customizable parameters and alert functionalities, empower traders to navigate dynamic market conditions with confidence. Importantly, the CoF index offers traders the flexibility to employ a synthetically calculated method, inspired by the classic CoT-Index, regardless of market or investment horizon . Whether you're a seasoned investor or a novice trader, CoF equips you with the tools needed to stay ahead in today's competitive markets.
Cari dalam skrip untuk "range"
Deck@r True Range IndexThis Pine Script calculates the True Range Index (TRI) using ATR and Fib Levels and uses the result to generate buy and sell signals based on certain conditions.
Here's a breakdown of the code:
Inputs:
atr_period: Determines the period for calculating the Average True Range (ATR), preferred setting at 14.
atr_multiplier: Multiplier used to set the width of the ATR bands preferred setting at 1.
Calculations:
atr_value: Calculates the Average True Range (ATR) using the input period.
upper_band: Calculates the upper band of the ATR bands using a Simple Moving Average (SMA) of the close price plus the ATR multiplied by the multiplier.
lower_band: Calculates the lower band of the ATR bands using a Simple Moving Average (SMA) of the close price minus the ATR multiplied by the multiplier.
midline_75 and midline_25: Calculate midlines at Fibonacci retracement levels of 0.75 and 0.25, respectively, between the upper and lower bands.
Plotting:
Plots the upper and lower bands of the ATR bands.
Optionally plots midlines for the ATR bands (commented out in the code).
Buy and Sell Conditions:
buy_condition: Defines a condition for a buy signal, which occurs when the close price is above the midline at the Fibonacci retracement level of 0.25.
sell_condition: Defines a condition for a sell signal, which occurs when the close price is below the midline at the Fibonacci retracement level of 0.75.
Candle Color:
Sets the candle color based on the buy and sell conditions.
Buy and Sell Signals:
buy_signal: Checks for a buy signal when the close price crosses above the midline at the Fibonacci retracement level of 0.25.
sell_signal: Checks for a sell signal when the close price crosses below the midline at the Fibonacci retracement level of 0.75.
Plots buy and sell signals on the chart.
DEMA Adjusted Average True Range [BackQuant]The use of the Double Exponential Moving Average (DEMA) within your Adjusted Average True Range (ATR) calculation serves as a cornerstone for enhancing the indicator's responsiveness to market changes. To delve deeper into why DEMA is employed specifically in the context of your ATR calculation, let's explore the inherent qualities of DEMA and its impact on the ATR's performance.
DEMA and Its Advantages
As previously mentioned, DEMA was designed to offer a more responsive alternative to the traditional Exponential Moving Average (EMA). By giving more weight to recent price data, DEMA reduces the lag typically associated with moving averages. This reduction in lag is especially beneficial for short-term traders looking to capitalize on trend reversals and other market movements as swiftly as possible.
The calculation of DEMA involves the following steps:
Calculate EMA1: This is the Exponential Moving Average of the price.
Calculate EMA2: This is the Exponential Moving Average of EMA1, thus it is a smoothing of a smoothing, leading to a greater lag.
Formulate DEMA: The formula
EMA1 = EMA of price
EMA2 = EMA of EMA1
DEMA = (2 x EMA1) - EMA2
effectively doubles the weighting of the most recent data points by subtracting the lagged, double-smoothed EMA2 from twice the single-smoothed EMA1.
This process enhances the moving average's sensitivity to recent price movements, allowing the DEMA to adhere more closely to the price bars than either EMA1 or EMA2 alone.
Integration with ATR
In the context of your ATR calculation, the integration of DEMA plays a crucial role in defining the indicator's core functionality. Here's a detailed explanation of how DEMA affects the ATR calculation:
Initial Determination of DEMA : By applying the DEMA formula to the chosen source data (which can be adjusted to use Heikin Ashi candle close prices for an even smoother analysis), you set a foundation for a more reactive trend-following mechanism within the ATR framework.
Application to ATR Bands : The calculated DEMA serves as the central line from which the ATR bands are derived. The ATR value, multiplied by a user-defined factor, is added to and subtracted from the DEMA to form the upper and lower bands, respectively. This dynamic adjustment not only reflects the volatility based on the ATR but does so in a way that is closely aligned with the most recent price action, thanks to the utilization of DEMA.
Enhanced Signal Quality : The responsiveness of DEMA ensures that the ATR bands adjust more promptly to changes in market conditions. This quality is vital for traders who rely on the ATR bands to identify potential entry and exit points, trend reversals, or to assess market volatility.
By employing DEMA as the core component in calculating the Adjusted Average True Range, your indicator leverages DEMA's reduced lag and increased weight on recent data to provide a more timely and accurate measure of market volatility. This innovative approach enhances the utility of the ATR by making it not only a tool for assessing volatility but also a more reactive indicator for trend analysis and trading signal generation.
The main concept of combining these is to reduce lag, get a more robust signal and still capture clear trends over medium time horizons.
For me, this is best used in confluence with other indicators, it can be made faster in order to get fasters response time, or slower. This is all depending on the needs of you as a trader.
User Inputs:
The script offers several user-configurable inputs, such as the period lengths for DEMA and ATR calculations, the multiplication factor for the ATR, and options to use Heikin Ashi candles or standard price data. Additionally, it allows for the toggling of visual features, like the plotting of the DEMA ATR and its moving average, and the application of color-coded trends on price bars.
Additional Features:
Moving Average Confluence: Traders can opt to display a moving average of the DEMA ATR, choosing from various types (e.g., SMA, EMA, HMA). This feature provides a layer of confluence, aiding in the identification of trend direction and strength.
Trend Identification :
The script employs logical conditions to ascertain the trend direction based on the movement of the DEMA ATR. It assigns colors to represent bullish or bearish trends, which are reflected in the plotted lines and the coloring of price bars.
Alerts :
Customizable alert conditions for trend reversals enhance the utility of the indicator for active trading, notifying users of significant changes in trend direction.
1D Backtests
We include these backtests as a general proxy for how they work.
Please do your own calibrating to suit it to your own needs and backtest.
Past results don't = future results but they can help you understand how it functions.
INDEX:BTCUSD
INDEX:ETHUSD
BINANCE:SOLUSD
Time Candle Range HistoryThe 'Intraday Candle Range Average' indicator is designed to provide traders with insights into the average price range of intraday candles, specifically focusing on the period around 9:30 AM. By calculating the difference between the high and low of candles occurring at 9:30 AM, the indicator offers a dynamic view of market volatility during this critical time window. Users can customize parameters such as the number of days to consider for the average calculation, allowing for flexibility in analyzing short-term price movements. Additionally, the indicator offers a clear visualization of the current candle range compared to the historical average, aiding traders in identifying potential trading opportunities based on volatility patterns. Whether used independently or in conjunction with other technical analysis tools, the 'Intraday Candle Range Average' indicator empowers traders with valuable insights into intraday market dynamics.
Price Range Volume Profile++ [Pt]█ Introduction
The Price Range Volume Profile++ (PRVP++) is an advanced, feature-rich indicator specifically designed for volume profile users for in-depth volume analysis. Unlike most other volume profile tools that are limited to a 5000-bar lookback, PRVP++ can utilize all available candles on the chart, offering an unparalleled scope of historical data analysis.
█ Main Features
Full Chart Historical Lookback : PRVP++ sets a new standard with its ability to analyze the entire history of candles available on a chart, far exceeding the typical 5000-bar limit of other tools. This feature allows traders to conduct a comprehensive and detailed study of volume data over extensive time periods.
Volume Profile Analysis : The tool provides an in-depth volume profile analysis, showcasing the distribution of trading activity across different price levels. This is crucial for identifying key areas of interest in the market.
Bull/Bear Strength Profile : A standout feature that displays the relative strength of buyers (bulls) and sellers (bears) at different price levels. This visual representation helps traders gauge market sentiment and power dynamics.
Automatic HVN and LVN Identification : PRVP++ automatically highlights High Volume Nodes (HVNs) and Low Volume Nodes (LVNs), making it easier for traders to identify significant zones of trading activity and potential breakout areas.
Customization and Visual Enhancements : Offers customization for the profile's width, horizontal offset, and a sophisticated gradient color scheme for HVNs and LVNs, enhancing the tool's visual appeal and analytical utility.
█ Input Parameters
Price Range : Sets the percentage distance for the volume profile relative to the current closing price, determining the extent of volume data analysis.
Profile Step Size (Tick Size) : Users can choose automatic sizing or set a specific tick step size, offering flexibility in the granularity of the volume profile.
Volume Profile Options : Includes settings for gradient power and color selections for high and low volume areas, along with a fun mode for random color variations.
Profile Placement and Appearance : Adjustments for profile width, horizontal offset, and the option for background fill to enhance visibility.
Background Fill : Allows users to fill the background of the volume profile range, enhancing the visual impact and readability.
Time Weighted Profile : An option that weights the volume profile to give more emphasis to recent trading activities, highlighting the impact of recent market movements.
Smooth Filter : A feature that smoothens the volume profile to reduce noise and fluctuations, offering a clearer view of dominant volume levels.
High and Low Volume Node Settings : Customizable detection settings for HVNs and LVNs, line styles, label text sizes, and the option to extend lines for clearer market analysis.
Extra Settings : Includes displaying the current price on the profile, a customizable settings table with adjustable location and font size, and table opacity.
Random Color Generation : A feature for dynamically changing the colors used in the volume profile.
█ Possible Use Cases
Long-Term Market Analysis : Due to its ability to analyze all available candles on the chart, PRVP++ is exceptionally suited for long-term market analysis. Traders can study the historical volume profile over extended periods, identifying significant volume trends and shifts that could impact long-term investment strategies.
Identifying Key Support and Resistance Levels : The automatic HVN and LVN identification feature of PRVP++ makes it easier for traders to spot potential support and resistance levels. HVNs often correspond to strong support or resistance zones where significant trading activity has occurred, while LVNs may indicate levels where the price could break through more easily.
Gauging Market Sentiment with Bull/Bear Strength Profile : The Bull/Bear Strength Profile helps traders understand the prevailing market sentiment at different price levels. By analyzing the dominance of buying or selling pressure, traders can align their trades with the market's direction or prepare for potential reversals.
Intraday Trading and Scalping : For intraday traders and scalpers, the time-weighted feature and the ability to adjust profile step size offer valuable insights. By emphasizing recent trading activity and adjusting the granularity of the profile, traders can make more informed decisions based on short-term price movements and volume changes.
Breakout Trading : By utilizing the LVN identification, traders can pinpoint areas with low trading activity that might serve as potential breakout points. This information can be instrumental in formulating strategies to capitalize on sudden price movements.
Volume Gap Analysis : PRVP++ can be used to identify volume gaps, which are areas with significantly low volume. These gaps can act as important indicators for price movements, as prices may move quickly through these levels due to the lack of historical trading activity.
Risk Management and Position Sizing : Understanding the volume profile can aid in better risk management and position sizing. By recognizing areas of high and low volume, traders can set stop-loss orders more effectively and adjust their position sizes according to the perceived strength of support or resistance levels.
Swing Trading : For swing traders, the comprehensive historical lookback and HVN/LVN analysis provide critical information about where to enter and exit trades. Swing traders can utilize these features to identify trend reversals and momentum shifts.
█ Best Practices and Tips
Start with a Clear Understanding : Before utilizing PRVP++, ensure you have a solid grasp of volume profile concepts. Understanding High Volume Nodes (HVNs), Low Volume Nodes (LVNs), and their implications on market behavior is crucial.
Combine with Other Analysis Tools : While PRVP++ is powerful, it's most effective when used in conjunction with other technical analysis tools and indicators. Combining volume profile data with price action analysis, trend lines, and technical indicators can provide a more comprehensive market view.
Customize According to Your Trading Style : Tailor the tool's settings to fit your trading strategy. Day traders might prefer a more detailed profile, while long-term investors may benefit from broader data analysis.
Pay Attention to HVNs and LVNs : HVNs can indicate potential support or resistance areas, while LVNs might suggest breakout points. Monitor these areas closely for trading opportunities.
Utilize the Full Historical Lookback Feature : For a broader perspective, use the full historical lookback feature to understand long-term volume patterns and their impact on current price movements.
Keep an Eye on Bull/Bear Strength : Use the Bull/Bear Strength Profile to gauge market sentiment at different price levels. This can help in predicting potential price movements.
Regularly Update Your Strategy : As market conditions change, regularly review and adjust your use of PRVP++ to ensure it aligns with current market dynamics.
Stay Informed About Market News : Be aware of how economic news and global events might affect the volume and price, as these factors can significantly impact the effectiveness of volume-based strategies.
█ Disclaimers and Risk Advice
No Guarantee of Profits : Trading involves risk, and the use of the PRVP++ tool does not guarantee profits. Always be aware of the potential for loss.
Educational Purposes Only : The information provided by PRVP++ is for educational purposes only and should not be considered financial advice.
Not a Standalone Tool : PRVP++ should not be used as a standalone decision-making tool. Combine it with comprehensive market analysis and personal judgment.
Past Performance Not Indicative of Future Results [/b: Historical data and trends analyzed by PRVP++ do not guarantee future market behavior.
Use Risk Management : Always employ sound risk management strategies, including setting stop-loss orders and managing position sizes to protect your capital.
Personal Responsibility : Trading decisions remain the responsibility of the individual trader. Use PRVP++ as one of several tools in your decision-making process.
Opening Range Reversal ZonesThis script finds a reversal zone beyond the opening range for the selected period. I borrowed most of the opening range script itself from asenski.
I added a few things:
Trade Entry Times -- this restricts the "alert times."
Shading for the above mentioned times for the two "reversal" zones
A couple of other visuals for lines for the hi, mid, low of the opening range and lines for the fibs
Alerts while in the trading entry time session for fibbonacci crossovers.
I use this on NDX, SPY, and QQQs and have found buying "at the money" 0DTE puts in the "red zone" or 0DTE calls in the "green zone" frequently wins.
I have no statistics, as I am very methodical when I choose to enter, paying attention to the news, recent momentum, etc, and am not blindly entering when alert comes, but when one does, I do research and enter a trade.
In any case, thought I would share.
Price Cross Time Custom Range Interactive█ OVERVIEW
This indicator was a time-based indicator and intended as educational purpose only based on pine script v5 functions for ta.cross() , ta.crossover() and ta.crossunder() .
I realised that there is some overlap price with the cross functions, hence I integrate them into Custom Range Interactive with value variance and overlap displayed into table.
This was my submission for Pinefest #1 , I decided to share this as public, I may accidentally delete this as long as i keep as private.
█ INSPIRATION
Inspired by design, code and usage of CAGR. Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView.
█ FEATURES
1. Custom Range Interactive
2. Label can be resize and change color.
3. Label show tooltip for price and time.
4. Label can be offset to improve readability.
5. Table can show price variance when any cross is true.
6. Table can show overlap if found crosss is overlap either with crossover and crossunder.
7. Table text color automatically change based on chart background (light / dark mode).
8. Source 2 is drawn as straight line, while Source 1 will draw as label either above line for crossover, below line for crossunder and marked 'X' if crossing with Source 2's line.
9. Cross 'X' label can be offset to improve readability.
10. Both Source 1 and Source 2 can select Open, Close, High and Low, which can be displayed into table.
█ LIMITATIONS
1. Table is limited to intraday timeframe only as time format is not accurate for daily timeframe and above. Example daily timeframe will give result less 1 day from actual date.
2. I did not include other sources such external source or any built in sources such as hl2, hlc3, ohlc4 and hlcc4.
█ CODE EXPLAINATION
I pretty much create custom function with method which returns tuple value.
method crossVariant(float price = na, chart.point ref = na) =>
cross = ta.cross( price, ref.price)
over = ta.crossover( price, ref.price)
under = ta.crossunder(price, ref.price)
Unfortunately, I unable make the labels into array which i plan to return string value by getting the text value from array label, hence i use label.all and add incremental int value as reference.
series label labelCross = na, labelCross.delete()
var int num = 0
if over
num += 1
labelCross := label.new()
if under
num += 1
labelCross := label.new()
if cross
num += 1
labelCross := label.new()
I realised cross value can be overlap with crossover and crossunder, hence I add bool to enable force overlap and add additional bools.
series label labelCross = na, labelCross.delete()
var int num = 0
if forceOverlap
if over
num += 1
labelCross := label.new()
if under
num += 1
labelCross := label.new()
if cross
num += 1
labelCross := label.new()
else
if cross and over
num += 1
labelCross := label.new()
if cross and under
num += 1
labelCross := label.new()
if cross and not over and not under
num += 1
labelCross := label.new()
█ USAGE / EXAMPLES
True Range Moving Average Deviation🔶 Overview
The True Range Moving Average Deviation Indicator (TRMAD) is a technical analysis tool that combines elements of price deviation, volatility, and overbought/oversold conditions.
🔶 Key Components
Current price (Close) : most recent closing price of the asset.
Moving Average (MA) : represents a smoothed trendline of the asset's closing prices over a specified period. By default, TRMAD uses the Simple Moving Average (SMA) with a 20-period setting.
Average True Range (ATR) : reflects the average price range between the high and low over a given time frame. By default, TRMAD uses a 14-period ATR setting with a Simple Moving Average (SMA) calculation. ATR quantifies the historical price volatility of the asset, which is crucial for normalizing the price deviation.
🔶 Calculation
(Close - MA) / ATR
🔶 Interpretation
When TRMAD is above +3 ATR , it is often considered an indication that the asset may be overbought, suggesting a potential reversal or correction to the downside.
When TRMAD is below -3 ATR , it is often considered an indication that the asset may be oversold, suggesting a potential reversal or bounce to the upside.
TRMAD values around 0 ATR may indicate a balanced market condition.
🔶 Usage
🔹 Overbought and Oversold Conditions:
TRMAD can help identify overbought and oversold conditions. When TRMAD reaches or exceeds certain user-defined thresholds (e.g., +3 ATR or -3 ATR), it can signal that the asset is in an extreme condition.
Traders can use these extreme conditions to adjust their positions or look for potential reversal opportunities.
🔹 Divergence Analysis:
Traders often analyze divergences between the TRMAD indicator and price movements. For example, if the price is making higher highs while TRMAD is making lower highs (bearish divergence), it could indicate a potential trend reversal.
🔹 Trend Confirmation:
TRMAD can be used in conjunction with other technical indicators to confirm trends. For example, if TRMAD is consistently positive during an uptrend, it can provide confirmation of the trend's strength.
Positive TRMAD : When TRMAD is positive but hasn't reached the overbought threshold (e.g., +3 ATR), it suggests that there is some bullish momentum, but traders may exercise caution and look for other confirming signals before considering a long position.
Negative TRMAD : When TRMAD is negative but hasn't reached the oversold threshold (e.g., -3 ATR), it suggests some bearish sentiment, but traders may want to seek additional confirmation before considering a short position.
🔹 Risk Management:
Traders can use TRMAD as part of their risk management strategy. For instance, if TRMAD suggests that an asset is overbought, a trader might consider tightening their stop-loss orders to manage potential downside risk.
🔶 Credits
The idea about this indicator came from Fabio Figueiredo (Vlad)
ICT True Day Range [MK]The indicator displays the following:
Vertical line day separator from 00:00 to 00:00 EST
High/Low lines for the days true range from 00:00 to EOD
Opening line from 00:00 EST to EOD
Opening line from 08:30 EST to EOD
Weekly Opening line from Sunday open at 18:00 EST to last bar in the week
Monday range high/low/mid line, which can be extended to EOW
Text displaying Days of the Week
All functions can be fully customized regarding color/style and line width.
Below shows image of indicator with day separator: (it didn't show on the main chart despite being enabled?)
All of the above are to be used to give the user all the tools necessary to analyze the following concepts which can be studied on ICTs you tube channel:
Weekly profile, eg, has the weekly manipulated below the weekly open to then rise the rest of the week?
Daily profile, eg, has the day manipulated below the daily open (00:00 EST) to then rise the rest of the day?
Daily liquidity grab, eg has the current day taken PDH/PDL at the start of the current day?
Daily targets, eg will the current day end up taking liquidity from the PDH/PDL?
Monday range, will Mondays high/low range act as the accumulation phase of the weekly AMD profile?
Tuesday/Wednesday/Thursday/Friday reversal, eg, does a day of the week line up with a HTF target and a high volatility news event which could see price reverse after the manipulation phase of the weekly AMD profile?
In strong trending markets, will the 0830 open line be used in the NY session as manipulation reference in the same manner as the 00:00 line is normally used?
The above examples of how the indicator 'could' be used are not the only ways to use the indicator.
The indicator is by no means a trading strategy on its own. Users should be fully aware of ICT concepts and have performed extensive back-testing before using the indicator with live accounts.
Globex, Extended, Daily, Weekly, Monthly, Yearly Range* Adds Right Side Only Price Line & Labels for Tracking without Extending Both Sides
* Tracks Current, Previous, and Two Previous Globex Sessions/ Futures:
* Tracks Current, Previous, and Two Previous Extended Session/ Stocks:
* Tracks Current, Previous, Two, & Three Previous Day Session/ Equities:
* Tracks Current, Last, Two, Three, Four, & Five Week Session/ Equities:
* Tracks Current, Last, Two, Three, Four, & Five Month Session/ Equities:
* Tracks Current, Last, Two, Three, Four, & Five Year Session/ Equities:
* Allows Custom Range on Globex, Extended, & Daily Sessions
* Allows Custom Range on Weekly, Monthly, & Yearly Sessions
* Lines & Labels Are Not Visible on Chart Scales
* Reversible Text & Background Color
* Lines Extend Accordingly with Range
* Labels show Price & Percent Change
* Background Colors should match Chart Color to avoid Overlapping Text & Labels
* Lines have Offset Extension
* Labels have Offset Extension
* Globex Session is only visible on Futures & if Current Timeframe is Intraday
* Extended Session is only visible on Stocks & if Current Timeframe is Intraday
* Daily, Weekly, Monthly, & Yearly Sessions are visible on All Symbols & All Timeframes
* Globex, Extended, & Regular use their Default Time Sessions but allow Customization
* For Back Testing Default Sessions, switch over on the Menu to Style and Turn On/Off their Background Color; Any Area on the Chart Without Background Color is Regular Session
Volatility Price RangeThe Volatility Price Range is an overlay which estimates a price range for the next seven days and next day, based on historical volatility (already available in TradingView). The upper and lower bands are calculated as follows:
The Volatility for one week is calculated using the formula: WV = HV * √t where:
WV: one-week volatility
HV: annual volatility
√: square root
t: the time factor expressed in years
From this formula we can deduce the weekly volatility WV = HV * √(1 / 52) = HV / 7.2 where 52: weeks in a year.
The daily volatility DV = HV * √(1 / 365) = HV / 19.1 where 365: days in a year.
To calculate the lower and upper value of the bands, the weekly/daily volatility value obtained will be subtracted/added from/to the current price.
CPR (Central Pivot Range)Central Pivot Range is a trend and volatility forecasting tool. It is calculated from previous session's (day, week, or month) high, low, close values. It works on the idea that every trading session must be the result of its previous trading session.
Pivot, top pivot and bottom pivot values form the CPR. If the CPR for each trading session is getting higher (and also the price is trading above it) then it denotes bullish bias and vice versa for bearish. And the width of the CPR (i.e., distance between top and bottom pivot) denotes the volatility of the session.
If the CPR width is narrow, we can expect a trending or volatile trading session. If it's wide, then we can expect a range bound or sideways trading session.
Support and Resistance levels can be used as a profit booking zone or to add/reduce position sizing.
In this Indicator you have the following:
1. CPR with traditional support and resistance levels (S1-S5 & R1-R5).
2. Developing CPR for next trading day, week, and month.
3. Customizable lookback period, line width.
4. Option to show/hide labels, prices, SR levels, developing CPR.
True Range/Expected MoveThis indicator plots the ratio of True Range/Expected Move of SPX. True Range is simple the high-low range of any period. Expected move is the amount that SPX is predicted to increase or decrease from its current price based on the current level of implied volatility. There are several choices of volatility indexes to choose from. The shift in color from red to green is set by default to 1 but can be adjusted in the settings.
Red bars indicate the true range was below the expected move and green bars indicate it was above. Because markets tend to overprice volatility it is expected that there would be more red bars than green. If you sell SPX or SPY option premium red days tend to be successful while green days tend to get stopped out. On a 1D chart it is interesting to look at the clusters of bar colors.
Average Range PercentageIt is indicator for average percent range (range from high to low of stock/index price) of N days,
This will help to find high percentage moving stock/index for intraday.
Focused Average True RangeThe Focused Average True Range (FATR) is a modified version of the classic Average True Range (ATR) indicator. It is designed to provide traders with more accurate data on volatility, minimizing the impact of sharp spikes in volatility.
The main distinction between the Focused ATR and the standard ATR lies in the utilization of percentiles. Instead of calculating the average price change as the regular ATR does, the Focused ATR selects a value in the middle of the range of price changes. This makes it less sensitive to sharp changes in volatility, which can be beneficial in certain trading scenarios.
Settings:
Percentile. This parameter determines which value in the series of price changes will be used. For example, if the percentile is set to 50, the indicator will use the median value of the series of price changes. This is the default value. Imagine a class of students lined up by height, and instead of calculating the average height of all students, we take the height of the students in the middle of the line. Similarly here, we take the ATR from the middle of the series. Increasing the percentile will lead to the use of a value closer to the upper bound of the range, while decreasing the percentile will lead to the use of a value closer to the lower bound.
How to Use:
The Focused ATR is especially useful for determining the sizes of stop-losses and take-profits, thanks to its ability to consider the value in the middle of the series of price changes rather than the average value. This allows traders to more accurately assess volatility and risk, which in turn can assist in optimizing trading strategies
---
Фокусированный Средний Истинный Диапазон (Focused ATR) представляет собой модифицированную версию классического индикатора ATR. Он разработан с целью предоставления трейдерам более точных данных о волатильности, минимизируя влияние резких скачков волатильности.
Основное отличие Фокусированного ATR от стандартного ATR заключается в использовании процентиля. Вместо того, чтобы рассчитывать среднее значение изменений цены, как это делает обычный ATR, Фокусированный ATR выбирает значение в середине диапазона изменений цены. Это делает его менее чувствительным к резким изменениям волатильности, что может быть полезно в некоторых торговых сценариях.
Настройки:
Процентиль. Этот параметр определяет, какое значение в ряду изменений цены будет использоваться. Например, если процентиль равен 50, то индикатор будет использовать медианное значение ряда изменений цены. Это стандартное значение. Представьте себе, что ученики класса выстроились по росту, и мы считаем не средний рост всех учеников, а берем рост учеников из середины колонны. Так и тут. Мы берем ATR из середины ряда. Увеличение процентиля приведет к использованию значения, ближе к верхней границе диапазона, в то время как уменьшение процентиля приведет к использованию значения, ближе к нижней границе.
Как использовать:
Фокусированный ATR особенно полезен для определения размеров стоп-лоссов и тейк-профитов, благодаря своей способности учитывать значение в середине ряда изменений цены, а не среднее значение. Это позволяет трейдерам более точно оценить волатильность и риск, что в свою очередь может помочь в оптимизации торговых стратегий.
.
Ruthless Average True RangeThe Ruthless ATR (Average True Range) indicator is a powerful tool designed to provide traders with insights into market volatility. It calculates the ATR using a selected smoothing method, such as RMA, SMA, EMA, or WMA, and visualizes the ATR line on the price chart.
The key feature of the Ruthless ATR indicator is its ability to dynamically change the color of the ATR line based on its value. When the ATR value is below 100, the line color turns red, indicating potentially lower volatility. On the other hand, when the ATR value exceeds 100, the line color switches to blue, signaling higher volatility.
By incorporating this color differentiation, the Ruthless ATR indicator offers traders a quick visual reference to assess market conditions. The red color suggests relatively calmer price movements, while the blue color indicates potentially larger price swings and increased market volatility.
Traders can leverage the Ruthless ATR indicator in various ways. For instance, during low volatility periods, a red ATR line may prompt traders to employ range-bound strategies or tighten stop-loss levels. Conversely, when the ATR line turns blue, traders might consider implementing trend-following strategies or adjusting position sizes to account for higher potential price fluctuations.
The Ruthless ATR indicator empowers traders to make informed decisions by providing real-time visibility into market volatility. It serves as a valuable tool for assessing risk, setting realistic profit targets, and adapting trading strategies to prevailing market conditions.
Remember, the indicator's customization options allow you to adjust the length and smoothing method according to your trading style and preferences. Feel free to explore the benefits of the Ruthless ATR indicator and incorporate it into your trading toolkit to enhance your analysis and decision-making process.
COT-index rangeA graph showing the commercials (part of COT-data) positioning in relation to its own range, X periods back. I usually choose the look-back period to equal approximately one year. This will be around 52 on a weekly chart and 250 on a daily chart.
In my opinion a high data-point for the commercials is bullish and vice versa. But instead of only looking att absolute values I now look more at how the commercials are positioned compared to the previous 12 och 6 months.
Example:
a) if COT-index range = 0.8, then the commercials are in the 80th percentile for this specific look-back period, i.e. the commercials has only been more bullish 20% of the time and more bearish 80% of the time.
b) a) if COT-index range = 0.5, then the commercials are in the 50th percentile for this specific look-back period, i.e. the commercials has been more bullish 50% of the time and more bearish 50% of the time.
c) if COT-index range = 0.2, then the commercials are in the 20th percentile for this specific look-back period, i.e. the commercials has been more bullish 80% of the time and more bearish 20% of the time.
In other words, a high reading is bullish and a low reading is bearish.
[TTI] Eric Krull's YTD Market Indexes––––HISTORY & CREDITS 🏦
The Eric Krull's Index and Sector Performance Indicator is a powerful tool designed to provide users with a comprehensive view of the market's health and leading sectors. This innovative indicator analyzes various indexes and sectors, including the Nasdaq Composite, Renaissance IPO ETF, NYSE Composite, DJIA, and SP500, as well as 11 custom (user input) ETFs representing major sectors. By offering a detailed look at these indexes and sectors, users can better understand market trends and make informed trading decisions. Credit for the indicator goes to Eric Krull from the Lifecycle Trade team who has showcased the idea for it.
––––WHAT IT DOES 💡
The Eric Krull's Index and Sector Performance Indicator allows traders to:
👉 Monitor the performance of various market indexes, such as the Nasdaq Composite, Renaissance IPO ETF, NYSE Composite, DJIA, and SP500 and compare them to one another
👉Track the performance of 11 user input tickers or ETFs representing major sectors, providing insights into market trends and sector strength (could also compare stocks or other instruments like bonds, crypto or FOREX)
👉Assess overall market health by analyzing the Year-to-Date (YTD) performance of the selected indexes and input tickers.
👉Calculate where in the year to date range is the ticker/sector currently since the beginning of the year.
––––HOW TO USE IT 🔧
Using the Eric Krull's Index and Sector Performance Indicator is simple:
👉Add the indicator to your TradingView chart by searching for " Eric Krull's YTD Market Indexes" in the indicators list.
👉Customize the indicator by entering your desired symbols for the 11 custom ETFs, representing the major sectors you wish to analyze.
👉Adjust the table position on your chart by selecting from the available options: Top Left, Top Center, Top Right, Middle Left, Middle Center, Middle Right, Bottom Left, Bottom Center, or Bottom Right.
👉Review the table to analyze the YTD performance, percentage change, and range of each index and sector, which will help you identify leading sectors and gauge overall market health. Compare the sectors against one another to see where money are flowing in and also compare the overall performance in the index.
By utilizing the Eric Krull's Index and Sector Performance Indicator, you can make informed trading decisions based on the current market trends and sector performance. Stay ahead of the market by understanding which sectors are leading and use this knowledge to adapt your trading strategy accordingly.
Opening Range with FibsThe indicator uses a time range and another instrument for time reference, so that it works in the time zone you care about. I have set the default to SPX500USD since it is in EST ( SPX , ES and many futures are on Chicago time and opening range gets confused). You can change the reference instrument in the settings.
You can also change the multipliers and use other values instead of 1.272 and 1.618 for Fib extensions.
TradingView has a limit as to how many objects an indicator can create so if you want to go back further for visual backtesting - use the replay tool - it will be able to draw up to the time you selected within its limits.
Let me know if you need anything else...
Happy Trading!
True Range Adjusted Exponential Momentum [CC]-[burgered]Original Script by CheatCountry, used with permission (chill guy):
I have made a sort of conversion of CheatCountries implementation of the True Range Adjusted Exponential Moving Average into a momentum oscillator.
Being True Range based, it the bounds vary based on the chart.
Includes a Bollinger Band for bounds that forms a trend follower based on the 0 point.
Includes CheatCountry color code signals, different color scheme. Bright colors are strong signals, ark are weak, green bull, red bear, the basics.
This oscillator can be used for divergences, trends, signal strength, confirmation, volatility readings, you name it.
Works well on smoothed/filtered signals as well.
Give CheatCountry a follow, hes one of the MVPs of Tradingview Pinescripters, constantly giving us access to novel new concepts as they are published by professionals.
Cuban's Asset ScreenerCuban's Asset Screener is a tool designed to view the health of the entire market in a single charting window, using a multi-timeframe, real-time heatmapped asset screener built natively within Tradingview.
You can use this tool to aggregate and display critical information required to identify your favorite trade ideas using other Cuban's Edge tools. Although the screener currently uses pre-built lists for over 200+ Binance and Bybit Futures pairs, the tool comes with custom watchlist support, allowing you to add as many additional assets as your screen and browser will support.
Currently tracking range positions and a custom cross asset delta function from Cuban's Pair Trading Index, the screener has an in-built sorting function which orders assets by similar market structure and colors them relative to their performance against the user's comparison asset -- their current chart ticker.
Cuban's Asset Screener is also valuable as a tool to monitor performance of your portfolio against any benchmark asset, by using the 'Asset Redenomination' option within the settings. This allows the user to redenominate the entire screener easily using their current chart ticker.
In order to setup the Asset Screener, the user will need to select an 'Asset List' and a 'Screen Location' value. This will load the screener into a set position on screen, from right to left. In order to add additional assets, multiple instances of the asset screener will need to be loaded on screen.
With this indicator, users get the option to adjust the following:
range positioning lookback
asset redenomination for range positioning
asset sorting order
screen location
multi-timeframe support
live pricing for PTI values
in-built asset lists for 200+ assets
TO DO:
add market filters to the coloring
add tradfi asset lists
[blackcat] L1 True Range Adjusted EMA (TRAdj EMA) Level: 1
Background
In Traders’ Tips in January 2023, Vitali Apirine published an article in the January 2023 issue, “True Range Adjusted Exponential Moving Average (TRAdj EMA)”.
I use pine v4 to script it.
Function
Vitali Apirine's article True Range Adjusted Exponential Moving Average (TRAdj EMA) presents how a security's True Range, which measures volatility, can be integrated into a traditional exponential moving average. The trend following indicator called True Range Adjusted Exponential Moving Average (TRAdj EMA) applied with different lengths can help define turning points and filter price movements. By comparing the indicator to an exponential moving average of the same length, the trader can gain insight into the overall trend.
Remarks
Feedbacks are appreciated.
Average True Range Refurbished💡 Objective
This script is a rebuild of the pre-existing ATR indicator, with improvements and fine-tuning.
🪄Improvements
1. Normalization option (range 0 to 100)
2. Optional calculation of the ratio between current volatility and average volatility
3. Optional smoothing
4. Show a moving average
5. Show Bollinger Bands with 3 bands
6. Change bar colors according to ATR and Bollinger Bands
📚 Definition
'The Average True Range (ATR) is a tool used in technical analysis to measure volatility. Unlike many of today's popular indicators, the ATR is not used to indicate the direction of price. Rather, it is a metric used solely to measure volatility, especially volatility caused by price gaps or limit moves.'
(TradingView)
