Multi Deviation VWAP [OmegaTools]The Multi Deviation VWAP is an original variation of the traditional VWAP indicator, designed to enhance your trading experience by providing more precise market insights. While the conventional VWAP calculates a single price level based on volume and price over a given period, the Multi Deviation VWAP goes a step further by introducing dynamic upper and lower bands that adapt to market conditions. These bands give traders a more comprehensive understanding of volatility and price action, making it an ideal tool for various trading strategies, especially for identifying potential price reversals or trend continuations.
Key Features:
Separate Calculation of Deviation Bands:
Unlike traditional VWAP bands, where both the upper and lower bands are symmetrically calculated using a single deviation value, the Multi Deviation VWAP calculates the deviations independently for the upper and lower bands. This allows for a more accurate reflection of market dynamics.
The upper deviation band is based on the average distance of closing prices above the VWAP, while the lower deviation band considers the average distance of closing prices below the VWAP.
This separation provides a more tailored approach, adapting to whether the market is showing bullish or bearish momentum, as opposed to a fixed, equal deviation in both directions.
Internal and External Bands:
Two sets of deviation bands are plotted: Internal Bands and External Bands, controlled by user inputs (factorone for internal and factortwo for external). These bands offer multiple levels of support and resistance based on market volatility.
The Internal Bands are closer to the VWAP and act as the first level of support/resistance, suitable for short-term or tighter trading ranges.
The External Bands are further from the VWAP and capture more significant market swings, useful for identifying larger trends or setting wider stop-losses.
Timeframe Flexibility:
The indicator allows traders to select the desired timeframe (1D by default) over which the VWAP and its deviation bands are calculated. This flexibility enables users to adapt the indicator to different trading styles, from intraday scalping to longer-term trend analysis.
Visual Enhancements:
Bullish and Bearish Colors: The bands are color-coded for quick visual interpretation. Bullish bands (lower deviations) are colored blue, while bearish bands (upper deviations) are colored red, making it easy to differentiate between market conditions at a glance.
Plot Fill: The area between the internal and external bands is shaded, providing clear visual zones of potential price containment, aiding in understanding the market structure and anticipating price movements.
How It Differs from a Standard VWAP:
Traditional VWAP provides a single price line that represents the volume-weighted average price over a given period, often used to identify general price trends.
In contrast, the Multi Deviation VWAP introduces upper and lower bands calculated separately based on price deviations above and below the VWAP, giving a more nuanced view of market volatility.
Symmetrical bands in traditional VWAP may not always accurately reflect the market's true behavior, especially in trending markets, where upward and downward price movements aren't always equal. By splitting the deviation calculations, this tool provides a more dynamic and realistic view of price action, adapting to whether the market is showing stronger upward or downward pressure.
Use Cases:
Trend Identification: The VWAP line acts as a central trend line, while the deviation bands offer levels of potential support and resistance. When price moves beyond the external bands, it may indicate overextension and potential reversal.
Volatility Trading: Traders can use the internal and external bands to set dynamic take-profit or stop-loss levels, allowing for flexible risk management depending on market conditions.
Range Trading: In consolidating markets, the Multi Deviation VWAP can help traders identify optimal buy and sell zones as the price oscillates between the upper and lower bands.
By incorporating independent deviation bands, this indicator provides traders with a more responsive tool that reflects market behavior more accurately, helping them make informed trading decisions with enhanced precision.
Cari dalam skrip untuk "scalping"
[3Commas] Signal BuilderSignal Builder is a tool designed to help traders create custom buy and sell signals by combining multiple technical indicators. Its flexibility allows traders to set conditions based on their specific strategy, whether theyโre into scalping, swing trading, or long-term investing. Additionally, its integration with 3Commas bots makes it a powerful choice for those looking to automate their trades, though itโs also ideal for traders who prefer receiving alerts and making manual decisions.
๐ต How does Signal Builder work?
Signal Builder allows users to define custom conditions using popular technical indicators, which, when met, generate clear buy or sell signals. These signals can be used to trigger TradingView alerts, ensuring that you never miss a market opportunity. Additionally, all conditions are evaluated using "AND" logic, meaning signals are only activated when all user-defined conditions are met. This increases precision and helps avoid false signals.
๐ต Available indicators and recommended settings:
Signal Builder provides access to a wide range of technical indicators, each customizable to popular settings that maximize effectiveness:
RSI (Relative Strength Index): An oscillator that measures the relative strength of price over a specific period. Traders typically configure it with 14 periods, using levels of 30 (oversold) and 70 (overbought) to identify potential reversals.
MACD (Moving Average Convergence Divergence): A key indicator tracking the crossover between two moving averages. Common settings include 12 and 26 periods for the moving averages, with a 9-period signal line to detect trend changes.
Ultimate Oscillator: Combines three different time frames to offer a comprehensive view of buying and selling pressure. Popular settings are 7, 14, and 28 periods.
Bollinger Bands %B: Provides insight into where the price is relative to its upper and lower bands. Standard settings include a 20-period moving average and a standard deviation of 2.
ADX (Average Directional Index): Measures the strength of a trend. Values above 25 typically indicate a strong trend, while values below suggest weak or sideways movement.
Stochastic Oscillator: A momentum indicator comparing the closing price to its range over a defined period. Popular configurations include 14 periods for %K and 3 for %D smoothing.
Parabolic SAR: Ideal for identifying trend reversals and entry/exit points. Commonly configured with a 0.02 step and a 0.2 maximum.
Money Flow Index (MFI): Similar to RSI but incorporates volume into the calculation. Standard settings use 14 periods, with levels of 20 and 80 as oversold and overbought thresholds.
Commodity Channel Index (CCI): Measures the deviation of price from its average. Traders often use a 20-period setting with levels of +100 and -100 to identify extreme overbought or oversold conditions.
Heikin Ashi Candles: These candles smooth out price fluctuations to show clearer trends. Commonly used in trend-following strategies to filter market noise.
๐ต How to use Signal Builder:
Configure indicators: Select the indicators that best fit your strategy and adjust their settings as needed. You can combine multiple indicators to define precise entry and exit conditions.
Define custom signals: Create buy or sell conditions that trigger when your selected indicators meet the criteria youโve set. For example, configure a buy signal when RSI crosses above 30 and MACD confirms with a bullish crossover.
TradingView alerts: Set up alerts in TradingView to receive real-time notifications when the conditions youโve defined are met, allowing you to react quickly to market opportunities without constantly monitoring charts.
Monitor with the panel: Signal Builder includes a visual panel that shows active conditions for each indicator in real time, helping you keep track of signals without manually checking each indicator.
๐ต 3Commas integration:
In addition to being a valuable tool for any trader, Signal Builder is optimized to work seamlessly with 3Commas bots through Webhooks. This allows you to automate your trades based on the signals youโve configured, ensuring that no opportunity is missed when your defined conditions are met. If you prefer automation, Signal Builder can send buy or sell signals to your 3Commas bots, enhancing your trading process and helping you manage multiple trades more efficiently.
๐ต Example of use:
Imagine you trade in volatile markets and want to trigger a sell signal when:
Stochastic Oscillator indicates overbought conditions with the %K value crossing below 80.
Bollinger Bands %B shows the price has surpassed the upper band, suggesting a potential reversal.
ADX is below 20, indicating that the trend is weak and could be about to change.
With Signal Builder , you can configure these conditions to trigger a sell signal only when all are met simultaneously. Then, you can set up a TradingView alert to notify you as soon as the signal is activated, giving you the opportunity to react quickly and adjust your strategy accordingly.
๐จ๐ปโ๐ป๐ญ If this tool helps your trading strategy, donโt forget to give it a boost! Feel free to share in the comments how you're using it or if you have any questions.
_________________________________________________________________
The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.
Options Series - Dynamic Support & Resistance
๐ Key Features & How It Works:
โญ Dynamic Support and Resistance Management:
The script dynamically calculates and draws support and resistance lines based on pivot highs and pivot lows. Unlike static levels that remain unchanged, these lines are updated in real-time. When a support or resistance level is breached, the corresponding line is automatically deleted, keeping the chart clean and relevant. This feature ensures that the trader is always looking at valid support and resistance levels based on the current price action.
โญ Use of Arrays for Line Management:
The script utilizes arrays to store and manage support and resistance lines (array.new_line(0)). This is a more advanced feature of Pine Script v5, allowing for efficient handling of multiple lines on the chart. By using arrays, the script can easily track and manipulate multiple lines (adding, removing, updating), ensuring that the chart remains optimized for real-time analysisโโ.
โญ Customizable Inputs for Flexibility:
The script includes user inputs for the pivot length and the line width, making it adaptable to different trading styles and preferences. The pivot length determines how sensitive the indicator is to price changes, while the line width allows traders to customize the visual representation of support and resistance levels. These inputs add flexibility and make the script accessible to a broad range of traders.
โญ Efficient Breach Detection Mechanism:
The isBreached function is a key part of the script. It checks whether the current price has breached any of the existing support or resistance levels. If a breach is detected (i.e., the price crosses below a support or above a resistance), the respective line is deleted, ensuring that only active and valid lines remain on the chart. This automatic update feature reduces the need for manual intervention, helping traders stay focused on key price levels.
โญ Visual Clarity and Chart Cleanliness:
By deleting breached lines, the script ensures that the chart does not become cluttered with outdated or irrelevant lines. This visual clarity is crucial for traders who rely on clean, simple charts for decision-making. Removing unnecessary information helps traders make faster, more confident decisions based on the current market structure.
โญ Scalability for Multiple Timeframes:
The use of pivot points makes the script adaptable to different timeframes, from intraday scalping to longer-term swing trading. By changing the pivot length, traders can optimize the indicator for different market environments, ensuring that it can be applied across various asset classes and timeframesโ.
โญ Practical for Range-bound and Breakout Trading:
This script is particularly effective for traders who focus on range-bound markets or breakout strategies. It allows them to quickly identify areas where price is likely to reverse (support/resistance) or break out (when support/resistance is breached), providing real-time insight into market dynamics.
โญ Simplification of Price Action Analysis:
By automating the calculation of pivots and management of support/resistance levels, the script simplifies price action analysis. Traders no longer need to manually draw or monitor these levels, which is a common task in technical analysis. This provides an edge, as it reduces the time spent on chart preparation and helps focus on executing trades.
โญ Originality:
The script "Options Series - Pivot Based Support & Resistance" is an original approach to generating support and resistance levels using pivot points. Pivot-based techniques are popular, but the script introduces an automated dynamic way of drawing support and resistance lines, tracking breaches, and deleting lines when they are no longer valid. This aspect adds a refreshing layer of interactivity and functionality that sets it apart from basic pivot point scripts. The use of arrays to store and manage multiple support and resistance lines is also a good application of Pine Scriptโs newer array functionalitiesโ.
โญ Uniqueness of the Script:
The script stands out due to its dynamic management of support and resistance lines. Unlike traditional scripts that simply plot static pivot points, this one evolves with the market by removing broken levels, ensuring only valid support and resistance lines are visible on the chart. This is particularly useful for traders who focus on clean charting. The use of arrays to store and manage the lines, alongside the efficient deletion of lines when breached, demonstrates a solid understanding of Pine Script v5's advanced features, such as array manipulationโโ.
๐ Conclusion:
This script stands out for its real-time adaptability, dynamic support/resistance management, and efficient use of Pine Scriptโs advanced features. It a powerful tool for both novice and advanced traders.
The script is an indicator designed to draw support and resistance levels based on pivot highs and lows, dynamically removing lines when they are breached. If a price crosses a support or resistance level, the respective line is deleted, ensuring the chart reflects the current state of support and resistance accurately.
90 Minute Cycles Full90-Minute Cycles Indicator for London and NY Sessions
This is a more streamlined version of the 90-minute cycle indicator by sunwoo101.โจ
The 90-Minute Cycles Indicator is built to help traders easily follow and trade around key market cycles during the London and New York sessions. Marking important 90-minute intervals and highlighting the True Cycle Open Price provides clear visual cues to help you make more informed trading decisions.
Key Features:
90-Minute Cycles for London and NY: The indicator automatically draws vertical lines marking every 90-minute cycle for the London and NY sessions. These lines are great for timing your trades and spotting potential shifts in market momentum.
True Cycle Open Price: A horizontal line is drawn at the True Cycle Open Price, which stays visible throughout the session. This gives you a key reference point for price levels that tend to act as support or resistance.
Customizable Visuals: You can fully personalize the indicatorโs appearance - adjusting the colors and line styles and even controlling when the lines appear - so it blends perfectly with your existing charts.
All Cycles Drawn from the Start: Unlike other indicators, this one draws all the 90-minute cycles right when the session begins, so you can see the full dayโs potential market moves as soon as the first cycle starts.
Whatโs Different About This Indicator:
London Session Support: In addition to the NY session, you now have 90-minute cycles for the London session, complete with its own True Cycle Open Price.
Better Customization: You have more control over the visual aspects of the indicator, so it can be tailored to fit your specific charting preferences.
Complete Cycle Visibility: All cycles are drawn immediately when the session starts, providing a full view of the dayโs key moments right from the opening.
How to Use:
This indicator is perfect for scalping and short-term trading. Whether trading Forex or Indices and following SMT concepts, the cycle timing can help you pinpoint the best times for entering and exiting trades. The True Cycle Open Price is a crucial level of support or resistance throughout the session, making it a key marker to watch.
Scalpers: Use the 90-minute cycle lines to time your trades with the market's rhythm.
Day Traders: This indicator tracks the London and NY sessions, making it an excellent tool for day trading strategies where timing is critical.
Multi-Session Support:
Whether you're trading the London or New York session, the indicator will automatically adjust to your time zone and align the cycles to the relevant session. This helps you stay on top of key market activity across major trading hubs without changing anything manually.
Ichimoku Wave Oscillator with Custom MAIchimoku Wave Oscillator with Custom MA - Pine Script Description
This script uses various types of moving averages (MA) to implement the concept of Ichimoku wave theory for wave analysis. The user can select from SMA, EMA, WMA, TEMA, SMMA to visualize the difference between short-term, medium-term, and long-term waves, while identifying potential buy and sell signals at crossover points.
Key Features:
MA Type Selection:
The user can select from SMA (Simple Moving Average), EMA (Exponential Moving Average), WMA (Weighted Moving Average), TEMA (Triple Exponential Moving Average), and SMMA (Smoothed Moving Average) to calculate the waves. This script is unique in that it combines TEMA and SMMA, distinguishing it from other simple moving average-based indicators.
TEMA (Triple Exponential Moving Average): Best suited for capturing short-term trends with quick responsiveness.
SMMA (Smoothed Moving Average): Useful for identifying long-term trends with minimal noise, providing more stable signals.
Wave Calculations:
The script calculates three waves: Wave 9-17, Wave 17-26, and Wave 9-26, each of which analyzes different time horizons.
Wave 9-17 (blue): Primarily used for analyzing short-term trends, ideal for detecting quick changes.
Wave 17-26 (red): Used to analyze medium-term trends, providing a more stable market direction.
Wave 9-26 (green): Represents long-term trends, suitable for understanding broader trend shifts.
Baseline (0 Line):
Each wave is visualized around the 0 line, where waves above the line indicate an uptrend and waves below the line indicate a downtrend. This allows for easy identification of trend reversals.
Crossover Signals:
CrossUp: When Wave 9-17 (short-term wave) crosses Wave 17-26 (medium-term wave) upward, it is considered a buy signal, indicating a potential upward trend shift.
CrossDown: When Wave 9-17 (short-term wave) crosses Wave 17-26 downward, it is considered a sell signal, indicating a potential downward trend shift.
Background Color for Signal:
The script visually highlights the signals with background colors. When a buy signal occurs, the background turns green, and when a sell signal occurs, the background turns red. This makes it easier to spot reversal points.
Calculation Method:
The script calculates the difference between moving averages to display the wave oscillation. Wave 9-17, Wave 17-26, and Wave 9-26 represent the difference between the moving averages for different time periods, allowing for analysis of short-term, medium-term, and long-term trends.
Wave 9-17 = MA(9) - MA(17): Represents the difference between the short-term moving averages.
Wave 17-26 = MA(17) - MA(26): Represents the difference between medium-term moving averages.
Wave 9-26 = MA(9) - MA(26): Provides insight into the long-term trend.
This calculation method effectively visualizes the oscillation of waves and helps identify trend reversals at crossover points.
Uniqueness of the Script:
Unlike other moving average-based indicators, this script combines TEMA (Triple Exponential Moving Average) and SMMA (Smoothed Moving Average) to capture both short-term sensitivity and long-term stability in trends. This duality makes the script more versatile for different market conditions.
TEMA is ideal for short-term traders who need quick signals, while SMMA is useful for long-term investors seeking stability and noise reduction. By combining these two, this script provides a more refined analysis of trend changes across various timeframes.
How to Use:
This script is effective for trend analysis and reversal detection. By visualizing the crossover points between the waves, users can spot potential buy and sell signals to make more informed trading decisions.
Scalping strategies can rely on Wave 9-17 to detect quick trend changes, while those looking for medium-term trends can analyze signals from Wave 17-26.
For a broader market overview, Wave 9-26 helps users understand the long-term market trend.
This script is built on the concept of wave theory to anticipate trend changes, making it suitable for various timeframes and strategies. The user can tailor the characteristics of the waves by selecting different MA types, allowing for flexible application across different trading strategies.
Ichimoku Wave Oscillator with Custom MA - Pine Script ์ค๋ช
์ด ์คํฌ๋ฆฝํธ๋ ๋ค์ํ ์ด๋ ํ๊ท (MA) ์ ํ์ ํ์ฉํ์ฌ ์ผ๋ชฉ ํ๋๋ก ์ ๊ฐ๋
์ ๊ธฐ๋ฐ์ผ๋ก ํ๋ ๋ถ์์ ์๋ํ๋ ์งํ์
๋๋ค. ์ฌ์ฉ์๋ SMA, EMA, WMA, TEMA, SMMA ์ค ์ํ๋ ์ด๋ ํ๊ท ์ ์ ํํ ์ ์์ผ๋ฉฐ, ์ด๋ฅผ ํตํด ๋จ๊ธฐ, ์ค๊ธฐ, ์ฅ๊ธฐ ํ๋ ๊ฐ์ ์ฐจ์ด๋ฅผ ์๊ฐํํ๊ณ , ๊ต์ฐจ์ ์์ ์์น ๋ฐ ํ๋ฝ ์ ํธ๋ฅผ ํฌ์ฐฉํ ์ ์์ต๋๋ค.
์ฃผ์ ๊ธฐ๋ฅ:
์ด๋ ํ๊ท (MA) ์ ํ ์ ํ:
์ฌ์ฉ์๋ SMA(๋จ์ ์ด๋ ํ๊ท ), EMA(์ง์ ์ด๋ ํ๊ท ), WMA(๊ฐ์ค ์ด๋ ํ๊ท ), TEMA(์ผ์ค ์ง์ ์ด๋ ํ๊ท ), SMMA(ํํ ์ด๋ ํ๊ท ) ์ค ํ๋๋ฅผ ์ ํํ์ฌ ํ๋์ ๊ณ์ฐํ ์ ์์ต๋๋ค. ์ด ์คํฌ๋ฆฝํธ๋ TEMA์ SMMA์ ๋
์ฐฝ์ ์ธ ์กฐํฉ์ ํตํด ๊ธฐ์กด์ ๋จ์ํ ์ด๋ ํ๊ท ์งํ์ ์ฐจ๋ณํ๋ฉ๋๋ค.
TEMA(์ผ์ค ์ง์ ์ด๋ ํ๊ท ): ๋น ๋ฅธ ๋ฐ์์ผ๋ก ๋จ๊ธฐ ํธ๋ ๋๋ฅผ ํฌ์ฐฉํ๋ ๋ฐ ์ ํฉํฉ๋๋ค.
SMMA(ํํ ์ด๋ ํ๊ท ): ์ฅ๊ธฐ์ ์ธ ์ถ์ธ๋ฅผ ํ์
ํ๋ ๋ฐ ์ ์ฉํ๋ฉฐ, ๋
ธ์ด์ฆ๋ฅผ ์ต์ํํ์ฌ ์์ ์ ์ธ ์ ํธ๋ฅผ ์ ๊ณตํฉ๋๋ค.
ํ๋(Wave) ๊ณ์ฐ:
์ด ์คํฌ๋ฆฝํธ๋ Wave 9-17, Wave 17-26, Wave 9-26์ ์ธ ๊ฐ์ง ํ๋์ ๊ณ์ฐํ์ฌ ๊ฐ๊ฐ ๋จ๊ธฐ, ์ค๊ธฐ, ์ฅ๊ธฐ ์ถ์ธ๋ฅผ ๋ถ์ํฉ๋๋ค.
Wave 9-17 (ํ๋์): ์ฃผ๋ก ๋จ๊ธฐ ์ถ์ธ๋ฅผ ๋ถ์ํ๋ ๋ฐ ์ฌ์ฉ๋๋ฉฐ, ๋น ๋ฅธ ์ถ์ธ ๋ณํ๋ฅผ ํฌ์ฐฉํ๋ ๋ฐ ์ ์ฉํฉ๋๋ค.
Wave 17-26 (๋นจ๊ฐ์): ์ค๊ธฐ ์ถ์ธ๋ฅผ ๋ถ์ํ๋ ๋ฐ ์ฌ์ฉ๋๋ฉฐ, ์ข ๋ ์์ ์ ์ธ ์์ฅ ํ๋ฆ์ ๋ณด์ฌ์ค๋๋ค.
Wave 9-26 (๋
น์): ์ฅ๊ธฐ ์ถ์ธ๋ฅผ ๋ํ๋ด๋ฉฐ, ํฐ ํ๋ฆ์ ๋ฐฉํฅ์ฑ์ ํ์
ํ๋ ๋ฐ ์ ํฉํฉ๋๋ค.
๊ธฐ์ค์ (0 ๋ผ์ธ):
๊ฐ ํ๋์ 0 ๋ผ์ธ์ ๊ธฐ์ค์ผ๋ก ๋ณ๋์ฑ์ ์๊ฐํํฉ๋๋ค. 0 ์์ ์๋ ํ๋์ ์์น์ธ, 0 ์๋์ ์๋ ํ๋์ ํ๋ฝ์ธ๋ฅผ ๋ํ๋ด๋ฉฐ, ์ด๋ฅผ ํตํด ์ถ์ธ์ ์ ํ์ ์ฝ๊ฒ ํ์ธํ ์ ์์ต๋๋ค.
ํ๋ ๊ต์ฐจ ์ ํธ:
CrossUp: Wave 9-17(๋จ๊ธฐ ํ๋)์ด Wave 17-26(์ค๊ธฐ ํ๋)์ ์ํฅ ๊ต์ฐจํ ๋, ์์น ์ ํธ๋ก ๊ฐ์ฃผ๋ฉ๋๋ค. ์ด๋ ๋จ๊ธฐ์ ์ธ ์ถ์ธ ๋ณํ๊ฐ ๋ฐ์ํ ์ ์์์ ์๋ฏธํฉ๋๋ค.
CrossDown: Wave 9-17(๋จ๊ธฐ ํ๋)์ด Wave 17-26(์ค๊ธฐ ํ๋)์ ํํฅ ๊ต์ฐจํ ๋, ํ๋ฝ ์ ํธ๋ก ํด์๋ฉ๋๋ค. ์ด๋ ์์ฅ์ด ์ฝ์ธ๋ก ๋์์ค ๊ฐ๋ฅ์ฑ์ ๋ํ๋
๋๋ค.
๋ฐฐ๊ฒฝ ์์ ํ์:
๊ต์ฐจ ์ ํธ๊ฐ ๋ฐ์ํ ๋, ์์น ์ ํธ๋ ๋
น์ ๋ฐฐ๊ฒฝ, ํ๋ฝ ์ ํธ๋ ๋นจ๊ฐ์ ๋ฐฐ๊ฒฝ์ผ๋ก ์๊ฐ์ ์ผ๋ก ๊ฐ์กฐ๋์ด ์ฌ์ฉ์๊ฐ ์ ํธ๋ฅผ ์ฝ๊ฒ ์ธ์ํ ์ ์์ต๋๋ค.
๊ณ์ฐ ๋ฐฉ์:
์ด ์คํฌ๋ฆฝํธ๋ ์ด๋ ํ๊ท ๊ฐ์ ์ฐจ์ด๋ฅผ ๊ณ์ฐํ์ฌ ๊ฐ ํ๋์ ๋ณ๋์ฑ์ ๋ํ๋
๋๋ค. Wave 9-17, Wave 17-26, Wave 9-26์ ๊ฐ๊ฐ ์ค์ ๋ ์ฃผ๊ธฐ์ ์ด๋ ํ๊ท (MA)์ ์ฐจ์ด๋ฅผ ํตํด, ์์ฅ์ ๋จ๊ธฐ, ์ค๊ธฐ, ์ฅ๊ธฐ ์ถ์ธ ๋ณํ๋ฅผ ์๊ฐ์ ์ผ๋ก ํํํฉ๋๋ค.
Wave 9-17 = MA(9) - MA(17): ๋จ๊ธฐ ์ถ์ธ์ ์ฐจ์ด๋ฅผ ๋ํ๋
๋๋ค.
Wave 17-26 = MA(17) - MA(26): ์ค๊ธฐ ์ถ์ธ์ ์ฐจ์ด๋ฅผ ๋ํ๋
๋๋ค.
Wave 9-26 = MA(9) - MA(26): ์ฅ๊ธฐ์ ์ธ ์ถ์ธ ๋ฐฉํฅ์ ํ์
ํ ์ ์์ต๋๋ค.
์ด๋ฌํ ๊ณ์ฐ ๋ฐฉ์์ ํ๋์ ๋ณ๋์ฑ์ ํ์
ํ๋ ๋ฐ ์ ์ฉํ๋ฉฐ, ์ถ์ธ์ ๊ต์ฐจ์ ์ ํตํด ์์น/ํ๋ฝ ์ ํธ๋ฅผ ์ก์๋
๋๋ค.
์คํฌ๋ฆฝํธ์ ๋
์ฐฝ์ฑ:
์ด ์คํฌ๋ฆฝํธ๋ ๊ธฐ์กด์ ์ด๋ ํ๊ท ๊ธฐ๋ฐ ์งํ๋ค๊ณผ ๋ฌ๋ฆฌ, TEMA(์ผ์ค ์ง์ ์ด๋ ํ๊ท )์ SMMA(ํํ ์ด๋ ํ๊ท )์ ํจ๊ป ์ฌ์ฉํ์ฌ ์งง์ ์ฃผ๊ธฐ์ ๊ธด ์ฃผ๊ธฐ์ ํธ๋ ๋๋ฅผ ๋์์ ํ์
ํ ์ ์๋๋ก ์ค๊ณ๋์์ต๋๋ค. ์ด๋ฅผ ํตํด ๋จ๊ธฐ ํธ๋ ๋์ ๋ฏผ๊ฐํ ๋ณํ์ ์ฅ๊ธฐ ํธ๋ ๋์ ์์ ์ฑ์ ๋ชจ๋ ๋ฐ์ํฉ๋๋ค.
TEMA๋ ๋จ๊ธฐ ํธ๋ ์ด๋์๊ฒ ๋น ๋ฅด๊ณ ๋ฏผ์ฒฉํ ์ ํธ๋ฅผ ์ ๊ณตํ๋ฉฐ, SMMA๋ ์ฅ๊ธฐ ํฌ์์์๊ฒ ๋ณด๋ค ์์ ์ ์ด๊ณ ๊ธด ํธํก์ ํธ๋ ๋๋ฅผ ํ์
ํ๋ ๋ฐ ์ ๋ฆฌํฉ๋๋ค. ๋ ์งํ์ ๊ฒฐํฉ์ผ๋ก, ๋ค์ํ ์์ฅ ํ๊ฒฝ์์ ์ถ์ธ์ ๋ณํ๋ฅผ ๋ ์ ๊ตํ๊ฒ ๋ถ์ํ ์ ์์ต๋๋ค.
์ฌ์ฉ ๋ฐฉ๋ฒ:
์ด ์คํฌ๋ฆฝํธ๋ ์ถ์ธ ๋ถ์๊ณผ ๋ณ๊ณก์ ํฌ์ฐฉ์ ํจ๊ณผ์ ์
๋๋ค. ๊ฐ ํ๋ ๊ฐ์ ๊ต์ฐจ์ ์ ์๊ฐ์ ์ผ๋ก ํ์ธํ๊ณ , ์์น ๋๋ ํ๋ฝ ์ ํธ๋ฅผ ํฌ์ฐฉํ์ฌ ๋งค๋งค ์์ ๊ฒฐ์ ์ ๋์ธ ์ ์์ต๋๋ค.
์ค์บํ ์ ๋ต์์๋ Wave 9-17์ ์ฃผ๋ก ์ฐธ๊ณ ํ์ฌ ๋น ๋ฅด๊ฒ ์ถ์ธ ๋ณํ๋ฅผ ์ก์๋ด๊ณ , ์ค๊ธฐ ์ถ์ธ๋ฅผ ์ฐธ๊ณ ํ๊ณ ์ถ์ ๊ฒฝ์ฐ Wave 17-26์ ์ฌ์ฉํด ์ ํธ๋ฅผ ๋ถ์ํ ์ ์์ต๋๋ค.
์ฅ๊ธฐ์ ์ธ ์์ฅ ํ๋ฆ์ ํ์
ํ๊ณ ์ ํ ๋๋ Wave 9-26์ ํตํด ํฐ ํธ๋ ๋๋ฅผ ํ์ธํ ์ ์์ต๋๋ค.
์ด ์คํฌ๋ฆฝํธ๋ ํ๋ ์ด๋ก ์ ๊ฐ๋
์ ๊ธฐ๋ฐ์ผ๋ก ์์ฅ์ ์ถ์ธ ๋ณํ๋ฅผ ์์ธกํ๋ ๋ฐ ์ ์ฉํ๋ฉฐ, ๋ค์ํ ์๊ฐ๋์ ์ ๋ต์ ๋ง์ถ์ด ์ฌ์ฉํ ์ ์์ต๋๋ค. ํนํ, ์ฌ์ฉ์๊ฐ ์ ํํ MA ์ ํ์ ๋ฐ๋ผ ํ๋์ ํน์ฑ์ ๋ณํ์ํฌ ์ ์์ด, ์ฌ๋ฌ ๋งค๋งค ์ ๋ต์ ์ ์ฐํ๊ฒ ๋์ํ ์ ์์ต๋๋ค.
Custom 4 Moving Averages with Styles & ThresholdsThis Pine Script indicator is designed to provide traders with a unique method of analyzing price action through four customizable moving averages, alongside buy and sell threshold detection. The script is fully original and adds value by allowing traders to configure and visualize multiple MAs with different smoothing options, and by detecting critical buy/sell moments based on the interaction between price and the moving averages.
What the Script Does:
Custom Moving Averages: The script plots four distinct moving averages (MA1, MA2, MA3, and MA4) on the chart. Each MA can be configured for length, offset, and optional smoothing to match different trading strategies. This flexibility allows traders to tailor the script for various timeframes, trend detection, and market conditions.
Buy (BT) and Sell (ST) Threshold Detection: The indicator identifies critical points for buying and selling:
Buy Threshold (BT): The script identifies potential buy points when the current candle's low is above the MA2 from the previous candle, suggesting potential upward momentum.
Sell Threshold (ST): It detects potential sell points when the current MA2 falls below the previous candleโs low, indicating possible downward momentum. These thresholds are clearly marked on the chart with green arrows for BT (Buy) and red arrows for ST (Sell).
Horizontal Threshold Lines: Horizontal lines are drawn when BT or ST conditions are met. These lines help traders visualize support and resistance levels, providing clarity in decision-making. The length of these lines is customizable, allowing users to control how long they remain visible on the chart.
Dynamic Cleanup of Old Lines: To keep the chart clean and reduce clutter, the script automatically removes old BT and ST lines after a set period, ensuring that traders can focus on the most relevant data.
Underlying Concepts:
Moving Averages: Moving averages are a fundamental tool in technical analysis for identifying trends. This script uses various moving averages (calculated from high, low, close, and HL2) and allows for smoothing to adjust the sensitivity to price movements. Traders can apply this flexibility to multiple trading styles, from scalping to swing trading.
Threshold Conditions: The buy and sell conditions in this script are based on simple but effective price action patterns, where the interaction between price and MA2 determines entry or exit points. This approach is useful in trend-following strategies, where traders aim to capitalize on momentum shifts.
How to Use the Script:
Configure Moving Averages: Start by adjusting the lengths, offsets, and smoothing options for each moving average. For short-term trading, shorter MA lengths might be more suitable, while longer MAs can help identify broader trends.
Observe Buy and Sell Signals: Look for green arrows (BT) as potential buy signals and red arrows (ST) as potential sell signals. These signals appear when certain conditions between price and MA2 are met, giving traders clear visual cues for entries and exits.
Support/Resistance Levels: Pay attention to the horizontal lines drawn when BT or ST conditions occur. These lines can act as support or resistance levels, helping you identify potential price targets or stop-loss points.
Why This Script is Useful:
This indicator combines the power of multiple moving averages with customizable features, making it versatile for different market conditions. By adding clear buy and sell signals based on a logical threshold system, the script helps traders make informed decisions with minimal guesswork. Unlike many basic indicators, this one provides flexibility and original insight into market dynamics, making it a valuable tool for both beginner and experienced traders.
Adaptive SuperTrend Oscillator [AlgoAlpha]Adaptive SuperTrend Oscillator ๐ค๐
Introducing the Adaptive SuperTrend Oscillator , an innovative blend of volatility clustering and SuperTrend logic designed to identify market trends with precision! ๐ This indicator uses K-Means clustering to dynamically adjust volatility levels, helping traders spot bullish and bearish trends. The oscillator smoothly tracks price movements, adapting to market conditions for reliable signals. Whether you're scalping or riding long-term trends, this tool has got you covered! ๐นโจ
๐ Key Features:
๐ Volatility Clustering with K-Means: Segments volatility into three levels (high, medium, low) using a K-Means algorithm for precise trend detection.
๐ Normalized Oscillator : Allows for customizable smoothing and normalization, ensuring the oscillator remains within a fixed range for easy interpretation.
๐ Heiken Ashi Candles : Optionally visualize smoothed trends with Heiken Ashi-style candlesticks to better capture market momentum.
๐ Alert System : Get notified when key conditions like trend shifts or volatility changes occur.
๐จ Customizable Appearance : Fully customizable colors for bullish/bearish signals, along with adjustable smoothing methods and lengths.
๐ How to Use:
โญ Add the indicator to favorites by pressing the star icon. Customize settings to your preference:
๐ Watch the chart for trend signals and reversals. The oscillator will change color when trends shift, offering visual confirmation.
๐ Enable alerts to be notified of critical trend changes or volatility conditions
โ๏ธ How It Works:
This script integrates SuperTrend with volatility clustering by analyzing ATR (Average True Range) to dynamically identify high, medium, and low volatility clusters using a K-Means algorithm . The SuperTrend logic adjusts based on the assigned volatility level, creating adaptive trend signals. These signals are then smoothed and optionally normalized for clearer visual interpretation. The Heiken Ashi transformation adds an additional layer of smoothing, helping traders better identify the market's true momentum. Alerts are set to notify users of key trend shifts and volatility changes, allowing traders to react promptly.
Custom Moving Average Ribbon with EMA Table & Text ColorComprehensive Description of the Custom Moving Average Ribbon with EMA Table & Text Color
The Custom Moving Average Ribbon with EMA Table & Text Color is a highly flexible and customizable indicator designed for traders who use multiple moving averages to assess trends, strength, and potential market reversals. It plots up to 8 moving averages (either SMA, EMA, WMA, or VWMA) on the price chart and displays a table summarizing the moving averagesโ values, periods, and colors. The table also allows for the customization of the text color, making it easier to align with your chartโs theme or preference.
Key Features:
Multiple Moving Averages: You can display up to 8 moving averages (MA), each of which can be customized in terms of:
Type: SMA (Simple Moving Average), EMA (Exponential Moving Average), WMA (Weighted Moving Average), or VWMA (Volume-Weighted Moving Average).
Period: Each moving average has a user-defined period, which allows for flexibility depending on your trading style (short-term, medium-term, or long-term).
Enable/Disable: Each moving average can be independently enabled or disabled based on your preference.
Moving Average Ribbon: The indicator visualizes multiple moving averages as a ribbon, giving traders insight into the market's underlying trend. The interaction between these moving averages provides essential signals:
Uptrend: Shorter-term MAs above longer-term MAs, all sloping upward.
Downtrend: Shorter-term MAs below longer-term MAs, sloping downward.
Consolidation: MAs tightly packed, indicating low volatility or a sideways market.
Customizable Table: The indicator includes a table that displays:
The Name of each moving average (e.g., MA 1, MA 2, etc.).
The Period used for each moving average.
The Current Value of each moving average.
Color Coding for easier visual identification on the chart.
Text Color Customization: You can change the text color in the table to match your chart style or to ensure high visibility.
Responsive Design: This indicator works on any time frame, whether you're a day trader, swing trader, or long-term investor, and the table adjusts dynamically as new data comes in.
How to Use the Indicator
a) Trend Identification
The Custom Moving Average Ribbon helps in identifying trends and their strength. Hereโs how you can interpret the plotted moving averages:
Uptrend (Bullish):
If the shorter-term moving averages (e.g., 5-period, 10-period) are above the longer-term moving averages (e.g., 50-period, 200-period), and all the MAs are sloping upward, it suggests a strong bullish trend.
The greater the separation between the moving averages, the stronger the uptrend.
Use the table to quickly verify the current value of each MA and confirm that the price is staying above most or all of the MAs.
Downtrend (Bearish):
When shorter-term moving averages are below the longer-term moving averages and all MAs are sloping downward, this indicates a bearish trend.
Greater separation between MAs indicates a stronger downtrend.
Neutral/Consolidating Market:
If the MAs are tightly packed and frequently crossing each other, the market is likely consolidating, and a strong trend is not in play.
In these situations, itโs better to wait for a clearer signal before taking any positions.
b) Reversal Signals
Golden Cross: When a short-term moving average (e.g., 50-period) crosses above a long-term moving average (e.g., 200-period), this is considered a bullish signal, suggesting a possible upward trend.
Death Cross: When a short-term moving average crosses below a long-term moving average, itโs considered a bearish signal, indicating a potential downward trend.
c) Using the Table for Quick Reference
The table allows you to monitor:
The current price value relative to each moving average. If the price is above most MAs, the market is likely in an uptrend, and if below, in a downtrend.
Changes in MA values: If you see values of shorter-term MAs moving closer to or crossing longer-term MAs, this could indicate a weakening trend or a potential reversal.
How to Combine this Indicator with Other Indicators for a Solid Strategy
The Custom Moving Average Ribbon is powerful on its own but can be enhanced when combined with other technical indicators to form a comprehensive trading strategy.
1. Combining with RSI (Relative Strength Index)
How It Works: RSI is a momentum oscillator that measures the speed and change of price movements, typically over 14 periods. It ranges from 0 to 100, with readings above 70 considered overbought and below 30 considered oversold.
Strategy:
Overbought in an Uptrend: If the moving average ribbon indicates an uptrend but the RSI shows the market is overbought (RSI > 70), it could signal a pullback or correction is imminent.
Oversold in a Downtrend: If the moving average ribbon indicates a downtrend but the RSI shows oversold conditions (RSI < 30), a bounce or reversal may be on the horizon.
2. Combining with MACD (Moving Average Convergence Divergence)
How It Works: MACD tracks the difference between two exponential moving averages, typically the 12-period and 26-period EMAs. It generates buy and sell signals based on crossovers and divergences.
Strategy:
Trend Confirmation: Use the MACD to confirm the direction and momentum of the trend indicated by the moving average ribbon. For example, if the MACD line crosses above the signal line while the shorter-term MAs are above the longer-term MAs, it confirms strong bullish momentum.
Divergences: Watch for divergences between price action and MACD. If price is making higher highs but MACD is making lower highs, it could signal a weakening trend, which you can verify using the moving averages.
3. Combining with Bollinger Bands
How It Works: Bollinger Bands plot two standard deviations above and below a moving average, typically the 20-period SMA. The bands widen during periods of high volatility and contract during periods of low volatility.
Strategy:
Breakout or Reversal: If price action moves above the upper Bollinger Band while the shorter-term MAs are crossing above the longer-term MAs, it confirms a strong breakout. Conversely, if price touches or falls below the lower Bollinger Band and the shorter MAs start crossing below the longer-term MAs, it indicates a potential breakdown.
Mean Reversion: In sideways markets, when the moving averages are tightly packed, Bollinger Bands can help spot mean reversion opportunities (buy near the lower band, sell near the upper band).
4. Combining with Volume Indicators
How It Works: Volume is a crucial confirmation indicator for any trend or breakout. Combining volume with the moving average ribbon can enhance your strategy.
Strategy:
Trend Confirmation: If the price breaks above the moving averages and is accompanied by high volume, it confirms a strong breakout. Similarly, if price breaks below the moving averages on high volume, it signals a strong downtrend.
Divergence: If price continues to trend in one direction but volume decreases, it could indicate a weakening trend, helping you prepare for a reversal.
Example Strategies Using the Indicator
Trend-Following Strategy:
Use the moving average ribbon to identify the main trend.
Combine with MACD or RSI for confirmation of momentum.
Enter trades when the shorter-term MAs confirm the trend and the confirmation indicator (MACD or RSI) aligns with the trend.
Exit trades when the moving averages start converging or when your confirmation indicator shows signs of reversal.
Reversal Strategy:
Wait for significant crossovers in the moving averages (Golden Cross or Death Cross).
Confirm the reversal with divergence in MACD or RSI.
Use Bollinger Bands to fine-tune your entry and exit points based on overbought/oversold conditions.
Conclusion
The Custom Moving Average Ribbon with EMA Table & Text Color indicator provides a robust framework for traders looking to use multiple moving averages to gauge trend direction, strength, and potential reversals. By combining it with other technical indicators like RSI, MACD, Bollinger Bands, and volume, you can develop a solid trading strategy that enhances accuracy, reduces false signals, and maximizes profit potential in various market conditions.
This indicator offers high flexibility with customization options, making it suitable for traders of all levels and strategies. Whether you're trend-following, scalping, or swing trading, this tool provides invaluable insights into market movements.
Cumulative Volume Delta Divergence [TradingFinder] Periodic EMA๐ต Introduction
The Cumulative Volume Delta (CVD) is a powerful tool in technical analysis that is derived from market volume or trading activity. The Cumulative Volume Delta Divergence Detector Indicator helps traders identify Cumulative Volume Delta Divergences (CVD Divergence), which can provide reliable trading signals.
These divergences, such as bullish and bearish CVD divergences, act as key indicators of potential trend reversals in financial markets. By analyzing CVD divergences, traders can gain insights into the strength of buying and selling pressure and make more informed predictions about price trends.
The CVD indicator is particularly effective for traders who engage in day trading and scalping, as it helps identify price reversal points by analyzing volume and price behavior.
Using the CVD indicator in combination with other technical tools such as support and resistance levels and candlestick patterns allows for a more accurate market analysis.
๐ต How to Use
Divergences are one of the most important technical analysis signals that indicate the current strength of a price move may not be sustainable.
Cumulative Volume Delta Divergence helps traders identify potential trading opportunities that may not be visible on the price chart alone.
This type of divergence examines the relationship between buying and selling volume and price, enabling traders to better understand price trends.
๐ฃ Bullish CVD Divergence
A bullish CVD divergence occurs when the price makes a lower low, but the CVD indicator shows a higher low. This indicates increasing buying pressure in the market, even though the price is declining. In other words, despite the price dropping, buyers are gradually gaining strength, which could signal a price reversal and the start of a bullish trend.
How to use this signal : In this scenario, traders looking to go long can use this signal as a favorable opportunity to enter the market. After a bullish divergence, the market typically tends to move upward.
To reduce risk, traders can wait for further confirmation from the price chart. For example, if the price breaks through the previous high after the divergence or breaks a resistance level, this could be a more reliable signal for entering the market.
๐ฃ Bearish CVD Divergence
A bearish CVD divergence is the opposite of a bullish divergence. In this type of divergence, the price makes a higher high, but the CVD indicator shows a lower high. This indicates decreasing buying pressure and weakening momentum in the current bullish trend. A bearish divergence often serves as a warning of a potential market reversal to the downside.
How to use this signal : Traders can use this divergence as an opportunity to exit long positions or enter short positions. When the CVD indicator makes a lower high compared to the price, it signals weakness in buyer strength.
If traders receive further confirmation from the price chart, such as a break of key support levels or an increase in selling volume, this can serve as a stronger signal for the beginning of a bearish trend.
๐ฃ How to Build a Trading Strategy with Cumulative Volume Delta Divergence
Using CVD divergence alone may not be sufficient. Traders should combine this tool with other technical analysis techniques and indicators to have more confidence in their decisions. For example, when observing a CVD divergence, traders can also analyze volume, trend lines, or candlestick patterns to get a more accurate market analysis.
Additionally, risk management should always be a priority. Using stop-loss orders and properly sizing trades can help traders minimize their losses if they make a mistake.
๐ต Setting
Divergence Fractal Period : Determines the period of swings. The minimum and default value is 2.
CVD Period : You can set the period of " Periodic " and " EMA " modes.
Cumulative Mode : It has three modes "Periodic" and "EMA". In "Periodic" mode, it accumulates the volume periodically and in "EMA" mode, it calculates the moving average of the volume.
Market Ultra Data : If you turn on this feature, 26 large brokers will be included in the calculation of the trading volume. The advantage of this capability is to have more reliable volume data. You should be careful to specify the market you are in, FOREX brokers and Crypto brokers are different.
๐ต Conclusion
The Cumulative Volume Delta (CVD) indicator is a powerful tool in technical analysis, helping traders better identify price trends and make more accurate market predictions. By identifying CVD divergences, traders can anticipate price reversals and time their market entries and exits accordingly.
Bullish and bearish CVD divergences each provide valuable signals that can help traders identify the best entry and exit points in the market. A bullish CVD divergence signals strength in buying that will likely lead to a price increase, while a bearish CVD divergence indicates weakness in the bullish trend and the potential for the beginning of a bearish trend.
Overall, combining CVD with other technical analysis tools and employing risk management strategies can help traders make better trading decisions and capitalize on available market opportunities.
Risk Contract Table by Soothing TradesDescription:
Risk Contract Table by Soothing Trades
This script provides an intuitive table that displays the calculated risk in dollars for various contract sizes based on the size of the last closed candle.
It is designed to help traders quickly assess their risk exposure based on the most recent price movement.
Key Features:
Automatic and Manual Tick Value Calculation: Automatically fetches the tick value for your instrument.
You can also override it with a manual input using a convenient checkbox.
Customizable Contract Sizes: Easily input your preferred contract sizes.
The script dynamically adjusts the table headers and risk calculations based on your inputs.
Real-Time Updates:
The table updates with each new candle close, ensuring that your risk calculations are always based on the latest candle size.
User-Friendly Display: The table is displayed directly on your chart with customizable colors for both text and background, making it easy to match your chartโs theme.
How to Use:
Tick Value: By default, the script uses the automatic tick value.
To manually set the tick value, check the "Use Manual Tick Value" box and enter your desired value.
Contract Sizes: You can input the number of contracts for each category (5ct, 10ct, 15ct, 17ct). The script calculates and displays the risk for each contract size based on the tick movement of the last closed candle only.
Real-Time Calculations: Risk calculations are updated only after the candle is closed, so there are no misleading values during live market activity.
Customization Options:
Manual Tick Value Override: Use a custom tick value by enabling the "Use Manual Tick Value" option.
Custom Contract Sizes: Input your desired contract sizes, and the table headers and risk calculations will update accordingly.
Color Customization: Customize the text and background colors to fit your chartโs aesthetic.
How It Works:
The script calculates the tick movement from the last closed candle and multiplies it by the specified tick value and the number of contracts.
You can choose to use the default automatic tick value or manually input your own.
A table appears on the chart showing the risk for different contract sizes based solely on the size of the last candle, providing a quick snapshot of potential exposure from the most recent price movement.
This script is ideal for traders who want to keep a quick and accurate overview of their potential risk exposure based on the size of the most recent price action.
Whether you are scalping, day trading, or holding positions overnight, this tool by Soothing Trades will help you stay informed and make better trading decisions.
Happy Trading!
- use at own risk, for education and test purpose only.
Developed by Soothing Trades
Dynamic Resistance and Support LinesThis script is designed to dynamically plot support and resistance lines based on full-dollar and half-dollar price levels relative to the close price on a chart. The script is particularly useful for day traders and scalpers, as it helps visualize key psychological price levels that often act as support and resistance zones in volatile and fast-moving markets in real time.
Key Features:
Dynamic Resistance and Support Levels:
Full-dollar levels: These are calculated by rounding the close price to the nearest full dollar and then extending the levels by adding and subtracting increments of 1 (e.g., $1, $2, $3).
Half-dollar levels: These are calculated by adding and subtracting 0.5 increments to the nearest full-dollar price, providing additional reference points. The historical full-dollar levels remain where support and resistance may have occurred in the past.
Extend Lines:
You can toggle whether the support and resistance lines are extended to the right, left, or both directions. This allows flexibility in projecting potential future areas of support or resistance.
Custom Line Extension:
The user can set the number of bars (or time periods) that the support and resistance lines will extend, giving control over how long the levels remain on the chart.
Color-Coded Lines:
Red lines represent full-dollar resistance and support levels.
Blue lines represent half-dollar levels, making it easy to differentiate between key psychological price zones.
Line Flexibility:
The script allows the lines to extend both left and right on the chart, making it useful for analyzing historical price action or projecting future price movements. The number of bars for extension is customizable, allowing for tailored setups.
Nearest Full Dollar Plot:
The nearest full-dollar price level is plotted as a yellow circle on the chart. This serves as a quick visual cue for traders to monitor price proximity to critical levels.
Benefits in Day Trading, Scalping, and Volatile Markets:
Visualizing Key Psychological Levels:
Full-dollar and half-dollar price levels often act as psychological barriers for traders. This script helps traders easily identify these levels, which are important in both fast-moving markets and during sideways consolidation.
Improved Decision-Making:
By automatically drawing these support and resistance levels, the script helps day traders and scalpers make quicker and more informed decisions, especially in volatile markets where every second counts.
Adaptability to Market Conditions:
The flexibility of extending lines based on trader preferences allows the user to adapt the script to various market conditions, such as high volatility or trend-based trading, providing a clear view of potential breakout or reversal areas.
Better Risk Management:
Having predefined support and resistance levels helps traders better manage risk, as these levels can act as logical areas for setting stop losses or taking profits.
This script is especially valuable for traders looking to capitalize on quick market movements or identify key entry and exit points during market volatility.
Relative volume zone + Smart Order Flow Dynamic S/ROverview:
The Relative Volume Zone + Smart Order Flow with Dynamic S/R indicator is designed to help traders identify key trading opportunities by combining multiple technical components. This script integrates relative volume analysis, order flow detection, VWAP, RSI filtering, and dynamic support and resistance levels to offer a comprehensive view of the market conditions. It is particularly effective on shorter timeframes (M5, M15), making it suitable for scalping and day trading strategies.
Key Components:
1. Relative Volume Zones:
โข The script calculates the relative volume by comparing the current volume with the average volume over a defined lookback period (volLookback). When the relative volume exceeds a specified multiplier (volMultiplier), it indicates a high volume zone, signaling potential accumulation or distribution areas.
โข Purpose: Identifies high-volume trading zones that may act as significant support or resistance, indicating possible entry or exit points.
2. Smart Order Flow Analysis:
โข The indicator uses Volume Delta (the difference between buying and selling volume) and a Cumulative Delta to detect order imbalances in the market.
โข Order Imbalance is identified using a moving average of the Volume Delta (orderImbalance), which helps highlight hidden buying or selling pressure.
โข Purpose: Reveals market sentiment by showing whether buyers or sellers dominate the market, aiding in the identification of trend reversals or continuations.
3. VWAP (Volume Weighted Average Price):
โข VWAP is calculated over a default daily length (vwapLength) to show the average price a security has traded at throughout the day, based on both volume and price.
โข Purpose: Provides insight into the fair value of the asset, indicating whether the market is in an accumulation or distribution phase.
4. RSI (Relative Strength Index) Filter:
โข RSI is used to filter buy and sell signals, preventing trades in overbought or oversold conditions. It is calculated using a specified period (rsiPeriod).
โข Purpose: Reduces false signals and improves trade accuracy by only allowing trades when RSI conditions align with volume and order flow signals.
5. Dynamic Support and Resistance Levels:
โข The script dynamically plots support and resistance levels based on recent swing highs and lows (swingLookback).
โข Purpose: Identifies potential reversal zones where price action may change direction, allowing for more precise entry and exit points.
How It Works:
โข Buy Signal:
A buy signal is generated when:
โข The price enters a high-volume zone.
โข The price crosses above a 5-period moving average.
โข The cumulative delta shows more buying pressure (cumulativeDelta > SMA of cumulativeDelta).
โข The RSI is below 70 (not in overbought conditions).
โข Sell Signal:
A sell signal is generated when:
โข The price enters a high-volume zone.
โข The price crosses below a 5-period moving average.
โข The cumulative delta shows more selling pressure (cumulativeDelta < SMA of cumulativeDelta).
โข The RSI is above 30 (not in oversold conditions).
โข Dynamic Support and Resistance Lines:
Drawn based on recent swing highs and lows, these lines provide context for potential price reversals or breakouts.
โข VWAP and Order Imbalance Lines:
Plotted to show the average traded price and highlight order flow shifts, helping to validate buy/sell signals.
How to Use:
1. Apply the Indicator:
Add the script to your chart and adjust the settings to match your trading style and preferred timeframe (optimized for M5/M15).
2. Interpret the Signals:
Use the buy and sell signals in conjunction with dynamic support/resistance, VWAP, and order imbalance lines to identify high-probability trade setups.
3. Monitor Alerts:
Set alerts for significant order flow events to receive notifications when there is a positive or negative order imbalance, indicating potential market shifts.
What Makes It Unique:
This script is unique because it combines multiple market analysis tools โ relative volume zones, smart order flow, VWAP, RSI filtering, and dynamic support/resistance โ to provide a well-rounded, multi-dimensional view of the market. This integration allows traders to make more informed decisions by validating signals across various indicators, enhancing overall trading accuracy and effectiveness.
RCYC Bullish Bearish Indicator
Summary: The RCYC Bullish Bearish Indicator is a custom trading tool designed to help traders identify potential bullish and bearish conditions in the market using a combination of KDJ and RSI indicators. This indicator uses color-coded candles to visually represent bullish and bearish signals, making it easy to identify trend changes on the chart. The script is particularly useful for traders who prefer visual signals and want to incorporate both trend momentum (KDJ) and relative strength (RSI) in their analysis.
Description:
The RCYC Bullish Bearish Indicator is a unique mashup of the KDJ and RSI indicators, optimized to provide a clear visual representation of market conditions through color-coded candles. This indicator not only identifies the potential trend shifts but also provides alerts for significant crossover points, enhancing a trader's ability to make informed decisions.
How It Works:
KDJ Calculation:
The KDJ is a variation of the Stochastic Oscillator that includes the %J line, which can go beyond the typical 0-100 range of %K and %D.
The KDJ component of this indicator calculates the highest high and lowest low over a specified period (KDJ Length), using these values to derive the %K line.
The %D line is a smoothed version of %K, and the %J line is derived from %K and %D using the formula: J = 3 * %K - 2 * %D.
This indicator focuses on the behavior of the %J line in relation to a mid-point level (50), identifying crossovers and crossunders that signal potential shifts in market sentiment.
RSI Calculation:
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It is widely used to identify overbought or oversold conditions.
In this indicator, RSI values are adjusted and plotted to align visually with the KDJ values, providing a complementary momentum analysis.
Crossover Logic and Candle Coloring:
The indicator tracks two main events:
CrossOver50: When the %J line crosses above the 50 level, indicating potential bullish momentum.
CrossUnder50: When the %J line crosses below the 50 level, indicating potential bearish momentum.
Depending on the crossover events, the script changes the color of the candles on the chart:
Red candles on the initial crossover above 50, followed by dark blue candles to maintain bullish sentiment.
Yellow candles on the initial crossover below 50, followed by light blue candles to maintain bearish sentiment.
Alerts:
The indicator includes alert conditions for both bullish and bearish signals:
Red Candle Alert: Notifies the trader when the %J line crosses above 50.
Yellow Candle Alert: Notifies the trader when the %J line crosses below 50.
These alerts allow traders to react promptly to key market signals without continuously monitoring the chart.
Usage and Benefits:
This indicator is designed for traders looking to combine momentum and trend analysis into a single visual tool. It is particularly useful for those trading in trending markets or looking for entry/exit signals based on momentum shifts.
The color-coded candles provide an intuitive way to assess market conditions at a glance, reducing the complexity associated with analyzing multiple indicators separately.
By integrating both KDJ and RSI, the RCYC Bullish Bearish Indicator offers a balanced approach to trend detection and momentum confirmation, making it versatile for various trading styles, including scalping, swing trading, and position trading.
Originality and Usefulness:
While the indicator builds upon the familiar concepts of KDJ and RSI, it uniquely merges them into a cohesive visual tool with distinct crossover-based alerts and candle coloring.
This approach makes the indicator original, as it simplifies the interpretation of complex signals into straightforward visual cues, enhancing the decision-making process for traders who prefer chart-based analysis.
First Candle High Low LevelsDescription
The "First Candle High Low Levels" Pine Script indicator is designed to highlight the high and low levels of the first candle of the day on your TradingView chart. It works across different timeframes and specifically handles the Indian stock market trading hours (9:15 AM to 3:30 PM IST). The script draws a box from the start to the end of the trading session, visually marking the price range defined by the first candle of the day. Traders can customize the box's border color, fill color, and line width.
Features
Customizable Timeframe: Users can select the desired timeframe for the first candle (e.g., 5-minute, 15-minute, etc.).
Custom Box Appearance: Options to adjust the border color, fill color, and line width of the drawn box.
Auto Reset for Each New Day: The high and low of the first candle are reset daily to mark the start of the next trading day.
Accurate Market Session Handling: The box is drawn from the start of the first candle to the end of the trading session (3:30 PM IST).
Usage
Adding to Chart: Apply the script by copying it into the Pine Script editor in TradingView. Once added, the script will automatically draw a box representing the high and low of the first candle of the day.
Select Timeframe: You can adjust the First Candle Timeframe input to define which timeframe candle will be used for marking the high and low. For example, if you choose a 5-minute timeframe, the high and low of the first 5-minute candle will be used.
Customization:
Adjust the Border Color and Box Fill Color through the input settings to match your chart's style.
Modify the Box Line Width to make the box lines more or less prominent.
Volume-Price PercentileDescription:
The "Volume-Price Percentile Live" indicator is designed to provide real-time analysis of the relationship between volume percentiles and price percentiles on any given timeframe. This tool helps traders assess market activity by comparing how current volume levels rank relative to historical volume data and how current price movements (specifically high-low ranges) rank relative to historical price data. The indicator visualizes the ratio of volume percentile to price percentile as a histogram, allowing traders to gauge the relative strength of volume against price movements in real time.
Functionality:
Volume Percentile: Calculates the percentile rank of the current volume within a user-defined rolling period (default is 30 bars). This percentile indicates where the current volume stands in comparison to historical volumes over the specified period.
Price Percentile: Calculates the percentile rank of the current candle's high-low difference within a user-defined rolling period (default is 30 bars). This percentile reflects the current price movement's strength relative to past movements over the specified period.
Percentile Ratio (VP Ratio): The indicator plots the ratio of the volume percentile to the price percentile. This ratio helps identify periods when volume is significantly higher or lower relative to price movement, providing insights into potential market imbalances or strength.
Real-Time Data: By fetching data from a lower timeframe (e.g., 1-minute), the indicator updates continuously within the current timeframe, offering live, intra-candle updates. This ensures that traders can see the histogram change in real-time as new data becomes available, without waiting for the current candle to close.
How to Use:
Adding the Indicator: To use this indicator, add it to your chart on TradingView by selecting it from the Indicators list once it is published publicly.
Setting Parameters:
Volume Period Length: This input sets the rolling window length for calculating the volume percentile (default is 30). You can adjust it based on the desired sensitivity or historical period relevance.
Candle Period Length: This input sets the rolling window length for calculating the price percentile based on the high-low difference of candles (default is 30). Adjust this to match your trading style or analysis period.
Interpreting the Histogram:
The histogram represents the volume percentile divided by the price percentile.
Above 1: A value greater than 1 indicates that volume is relatively strong compared to price movement, which may suggest high activity or potential accumulation/distribution phases.
Below 1: A value less than 1 suggests that price movement is relatively stronger than volume, indicating potential weakness in volume relative to price moves.
Near 1: Values close to 1 suggest a balanced relationship between volume and price movement.
Application: Use this indicator to identify potential breakout or breakdown scenarios, assess the strength of price movements, and confirm trends. When volume percentile consistently leads price percentile, it might signal sustained interest and support for the current price trend. Conversely, if volume percentile lags significantly, it might warn of potential trend weakness.
Best Practices:
Multiple Timeframe Analysis: While the indicator provides real-time updates on any timeframe, consider using it alongside higher timeframe analysis to confirm trends and volume behavior across different periods.
Customization: Adjust the period lengths based on the assetโs typical volume and price behavior, as well as your trading strategy (e.g., short-term scalping vs. long-term trend following).
Complement with Other Indicators: Use this indicator in conjunction with other volume-based tools, trend indicators, or momentum oscillators to gain a comprehensive view of market dynamics.
Fractal Proximity MA Aligment Scalping StrategyFractal Analysis
Fractals in trading help identify potential reversal points by marking significant price changes. Our strategy calculates a "fractal value" by comparing the current price to recent high and low fractal points. This is done by evaluating the sum of distances from the current closing price to the recent highs and lows. A positive fractal value suggests proximity to recent lows, hinting at upward momentum. Conversely, a negative value indicates closeness to recent highs, signaling potential downward movement.
Moving Averages for Confirmation
We use a series of 20 moving averages ranging from 5 to 100 to confirm trend directions indicated by fractal analysis. An entry signal is considered bullish when shorter-term moving averages are all above a long-term moving average, aligning with a positive fractal value.
Exit Strategy
The strategy employs dynamic stop-loss levels set at various moving averages, allowing for partial exits when the price crosses below specific thresholds. This helps manage the trade by locking in profits gradually. A full exit might be triggered by strong reversal signals suggested by both fractal values and moving average trends.
This open-source strategy is available for the community to test, adapt, and utilize. Your feedback and modifications are welcome as we refine the approach based on collective user experiences.
Median Supertrend | viResearchMedian Supertrend | viResearch
Conceptual Foundation and Innovation
The "Median Supertrend" indicator, developed by viResearch, offers a unique approach to identifying trends by combining a median-based smoothing mechanism with a modified Supertrend calculation. Unlike the traditional Supertrend, which relies solely on price data, this version calculates a median percentile of the closing price over a specified length, resulting in a more accurate representation of underlying trends.
Technical Composition and Calculation
The "Median Supertrend" enhances the conventional Supertrend formula by introducing improvements to minimize lag and improve responsiveness to market volatility.
Median Smoothing:
The script uses the 50th percentile of the closing price over a user-defined period to provide a smoother representation of price movements, reducing the influence of short-term price spikes or dips for more stable trend analysis.
Supertrend Calculation:
The indicator applies the Average True Range (ATR) to determine the upper and lower trend bands, which are then shifted above or below the smoothed price (median) by a multiple of the ATR, customizable by users to adjust sensitivity.
Trend Logic:
The script uses the upper and lower bands to detect whether the price is trending upwards or downwards and introduces persistence logic to prevent excessive shifting of the bands during consolidating market phases. This mechanism ensures that once the trend changes, the bands adjust smoothly rather than oscillating with each price movement.
Directional Analysis:
Based on price action relative to the trend bands, a directional variable (d) is computed to track whether the price crosses above or below these bands, signaling uptrends or downtrends. The script also includes events to detect transitions from bullish to bearish trends and vice versa, with the option to set alerts for timely decision-making.
Features and User Inputs
The "Median Supertrend" offers several customizable parameters to suit different trading styles:
Supertrend Length: Defines the period used to calculate the smoothing, allowing users to adjust the indicator's sensitivity based on market conditions.
Multiplier: Controls how far the trend bands are placed from the median price. Traders can increase the multiplier for less frequent trend changes or decrease it for more sensitive detection.
Median Length: Governs the length over which the median price is calculated, providing further customization to balance responsiveness and stability.
Practical Applications
The "Median Supertrend" is particularly useful in markets with rapid trend reversals and high volatility, offering an effective way to filter out noise and capture significant trend changes promptly.
Key Uses:
Trend Following: The indicator's primary function is to identify prevailing trends and guide traders in aligning with the market's direction, with its smoothing mechanism helping to ensure reliable trend signals.
Trend Reversal Detection: By tracking crossovers and crossunders relative to the Supertrend bands, the indicator helps traders detect potential reversals early, making it valuable in fast-moving markets.
Strategic Positioning: With adjustable sensitivity and real-time alerts, the "Median Supertrend" can adapt to a variety of trading strategies, from scalping to longer-term trend-following.
Advantages and Strategic Value
The "Median Supertrend" offers advantages over traditional trend indicators:
Reduced Noise: Median smoothing reduces noise from extreme price movements, ensuring more reliable trend signals.
Customizability: With adjustable length and multiplier settings, the indicator allows traders to fine-tune its sensitivity for different market conditions.
Responsiveness: Median-based smoothing, coupled with the ATR, provides a more responsive and adaptive measure of trend direction, particularly valuable in volatile markets.
Summary and Usage Tips
The "Median Supertrend" indicator is a potent tool for capturing market trends with increased precision and reduced lag. It combines the best features of traditional Supertrend indicators with the added stability of median-based smoothing, making it highly effective in volatile markets. Traders are encouraged to experiment with the length and multiplier settings to optimize the indicator for their specific trading strategies, while alerts and visual cues further enhance its utility.
Please keep in mind the following text: Backtests are based on past results and are not indicative of future performance.
Uptrick: Momentum Channel Indicator
### ๐ **Uptrick: Momentum Channel Indicator (MC_Ind)** ๐
The **"Uptrick: Momentum Channel Indicator"** is a powerful tool designed to help traders gauge market momentum and identify potential overbought or oversold conditions. Whether you're a day trader, swing trader, or long-term investor, this indicator can be your compass ๐งญ in the complex world of trading.
### ๐ฏ **Purpose of the Indicator**
The primary goal of the **Momentum Channel Indicator** is to measure the deviation of price from its moving average (the mid-point) and to smooth this deviation to identify momentum shifts. By plotting overbought and oversold levels, the indicator helps traders spot potential reversal points where the market might change direction, offering valuable entry or exit signals.
### ๐ง **Inputs & Parameters**
Let's break down the input parameters that you can adjust to tailor the indicator to your trading style:
1. **`length1` (Channel Length) ๐**: This is the period over which the moving average (mid-point) and price deviation are calculated. The default value is 14, meaning the last 14 bars are considered for calculations.
2. **`length2` (Smoothing Length) ๐ง**: This parameter controls the smoothing of the channel index, with a default value of 28. The higher the value, the smoother the momentum line, reducing noise and making trends more visible.
3. **`overbought1` & `overbought2` (Overbought Levels) ๐ด**: These levels, set at 70 and 65 by default, represent the threshold above which the market is considered overbought, potentially signaling a selling opportunity.
4. **`oversold1` & `oversold2` (Oversold Levels) ๐ข**: Similarly, these levels, set at -70 and -65, mark the threshold below which the market is considered oversold, indicating a potential buying opportunity.
### ๐ ๏ธ **How the Indicator Works**
Now, let's dive into the mechanics of the Momentum Channel Indicator:
1. **Mid-Point Calculation ๐**: The mid-point is calculated using a simple moving average (SMA) of the closing prices over the `length1` period. This mid-point acts as a reference line from which deviations are measured.
2. **Price Deviation ๐**: The price deviation is the absolute difference between the closing price and the mid-point, smoothed over the same period (`length1`). This represents the typical price movement away from the mid-point.
3. **Channel Index ๐**: The channel index is calculated by dividing the price deviation by a fraction (0.01) of the mid-point, providing a normalized measure of how far the price has deviated from the average.
4. **Smoothing of the Channel Index ๐**: The smoothed index (`mci1`) is calculated by applying a smoothing filter (SMA) over the channel index using the `length2` parameter. This helps reduce noise and highlight the true momentum of the market.
5. **Momentum Lines ๐**:
- **`mci1`**: The main momentum line, representing the smoothed channel index.
- **`mci2`**: A secondary momentum line, which is a further smoothed version of `mci1` using a 6-period SMA.
6. **Signal Lines ๐ฆ**:
- **Overbought & Oversold Levels**: Horizontal lines plotted at `overbought1`, `overbought2`, `oversold1`, and `oversold2` levels serve as visual cues for overbought and oversold conditions.
- **Zero Line**: A central reference line at 0, indicating neutral momentum.
### ๐ **How to Use the Indicator**
#### 1. **Day Traders โก**
For day traders, the Momentum Channel Indicator can be a quick signal generator for short-term trades. Here's how you can use it:
- **Identify Entry Points ๐ฏ**: Look for a **bullish crossover** when `mci1` crosses above `mci2` from below the `oversold1` level. This signals a potential upward reversal.
- **Spot Exit Points ๐**: Watch for a **bearish crossunder** when `mci1` crosses below `mci2` from above the `overbought1` level. This could indicate a downward reversal.
- **Scalping ๐**: In a fast-moving market, use the indicator to scalp by entering and exiting trades at these crossover points, with a tight stop-loss strategy.
#### 2. **Swing Traders ๐ข**
Swing traders benefit from using the Momentum Channel Indicator to identify potential reversal points over a longer period:
- **Trend Confirmation ๐**: Use the smoothing effect of `mci2` to confirm trends. If `mci2` remains consistently above 0, it indicates a strong bullish trend, and vice versa.
- **Overbought/Oversold Reversals ๐**: Enter trades when the price approaches the overbought or oversold levels (`overbought1`, `oversold1`). Combine this with other indicators, such as RSI, for more reliable signals.
- **Hold Positions ๐ง**: Let the momentum lines guide your hold strategy. If the momentum lines stay aligned (both `mci1` and `mci2` are moving in the same direction), consider holding the position until a crossover or reversal signal appears.
#### 3. **Long-Term Investors ๐ฆ**
For long-term investors, the Momentum Channel Indicator helps in fine-tuning entry and exit points based on broader market momentum:
- **Divergence Analysis ๐**: Look for divergence between the price and the momentum lines. If the price makes new highs but the momentum lines do not, it could signal a weakening trend and a potential reversal.
- **Strategic Entry/Exit ๐น**: Use the `overbought2` and `oversold2` levels to strategically enter or exit positions. These secondary levels provide an early warning before the market reaches extreme conditions.
- **Risk Management ๐ก๏ธ**: The indicator can also be used as part of a risk management strategy by identifying when to reduce exposure in overbought markets or increase exposure in oversold markets.
### ๐ผ๏ธ **Visualization & Interpretation**
The Momentum Channel Indicator is visually intuitive, with each component providing key insights:
1. **Momentum Lines (MCI1 & MCI2) ๐**:
- **Blue Line (`mci1`)**: Represents the main momentum line, providing immediate insights into market direction.
- **Orange Line (`mci2`)**: A secondary momentum line, further smoothed to confirm trends.
2. **Overbought/Oversold Levels ๐ด๐ข**:
- **Solid & Dashed Lines**: These lines highlight overbought and oversold regions, guiding traders on when to consider entering or exiting trades.
3. **MCI Difference (Purple Area) ๐**:
- **Shaded Area**: The difference between `mci1` and `mci2`, shaded in purple, helps visualize the strength of the momentum. The larger the shaded area, the stronger the momentum.
### ๐ **Advanced Tips & Tricks**
For those looking to maximize the potential of the Momentum Channel Indicator, here are some advanced strategies:
1. **Combine with Volume Indicators ๐**: Use volume indicators like OBV (On-Balance Volume) or Volume Oscillator to confirm momentum signals. For instance, a bullish crossover combined with increasing volume can reinforce a buy signal.
2. **Multiple Timeframe Analysis ๐**: Apply the Momentum Channel Indicator across multiple timeframes (e.g., daily and weekly) to get a more comprehensive view of the market. This can help in aligning short-term trades with long-term trends.
3. **Adjusting Parameters ๐**: Depending on market conditions, tweak the `length1` and `length2` parameters. In a highly volatile market, shorter lengths might provide quicker signals, whereas in a stable market, longer lengths could smooth out noise.
4. **Divergence & Convergence ๐**: Watch for divergence between price and momentum lines as a leading indicator of potential reversals. Convergence (when the price and momentum move in sync) can confirm the strength of the trend.
### **Conclusion**
The **Uptrick: Momentum Channel Indicator** is a versatile tool that can be customized for various trading styles and market conditions. Whether you're trading in fast-paced environments or analyzing long-term trends, this indicator offers a clear and intuitive way to gauge market momentum, identify potential reversals, and make informed trading decisions.
By understanding and applying the principles outlined above, you can harness the full power of this indicator, transforming your trading strategy from good to great! ๐
Heikin Ashi Price DetectionThis script performs custom calculations for both bullish and bearish bars, providing a numerical result that can be used to gauge price movements and potential trading signals.
How It Works
Bullish Bars:
Calculates the absolute difference between the open and low prices (BullOpenLow).
Calculates the absolute difference between the high and close prices (BullHighClose).
Compares BullOpenLow and BullHighClose:
If BullOpenLow is greater, the difference is divided by BullOpenLow.
If BullHighClose is greater, the difference is divided by BullHighClose.
The result is normalized to a percentage and subtracted from 100 to produce a final value.
Bearish Bars:
Calculates the absolute difference between the close and low prices (BearCloseLow).
Calculates the absolute difference between the high and open prices (BearHighOpen).
Compares BearCloseLow and BearHighOpen:
If BearCloseLow is greater, the difference is divided by BearCloseLow.
If BearHighOpen is greater, the difference is divided by BearHighOpen.
The result is normalized to a percentage and subtracted from 100 to produce a final value.
Key Features
Bullish and Bearish Calculations: The script identifies bullish and bearish bars and applies separate calculations to each.
Normalized Results: The calculations provide a normalized result that can be easily interpreted.
Visual Representation: Results are plotted on the chart for quick visual reference.
ThePawnAlgoThe Pawn Algo is a simple indicator that is useful for scalping in sync with a higher timeframe should only be use in clear trending markets.
What it does and How it does it?
The script is based of a simple pattern close above previous candle high means higher prices we can see it in a green bar. Close below previous candle low means lower prices we can see it in a red bar. Close inside previous candle range means price is going to consolidate do some kind of retracement or reversal we mark it in a black or dark color bar.
It plot an arrow and a liquidity level when it detects a change in sentiment from bullish to bearish or bearish to bullish.
It plot the Higher timeframe previous completed candle range into the selected Lower timeframe to easily see the HTF levels into the lower timeframe.
The HTF range change colors depending of previous HTF candles closes following the same idea, close above previous candle high means green range, close below previous candle low means red range and close inside means a gray range. Finally it plots the 50% of the HTF range and the previous close high and low.
Finally it draws a yellow value zone that is the difference between the previous candle close and 50% of the previous range. This zone is ideal for taking continuation trades in favor of the HTF trend.
How to use it?
You must first select a higher timeframe in minutes in the settings default value is 1440minutes then select a lower timeframe is the maximum timeframe in where the HTF will be visible. Default lower timeframe is 15minutes.
Then just wait for the HTF candle to close and engage in the LTF when price is around the value yellow zone in a premium or discount.
Green arrows are automatically plot when HTF is bullish and Red arrows when is bearish by default. But you can enable or disable the arrow signals liquidity levels or configure as you want. Making all signals visible or just the buys or sells.
The script is useful to easily identify the HTF draw on liquidity and recent key levels and then use the LTF structure to enter.
The indicator can be used to identify liquidity, price will seek this liquidity point sometimes sweep and then continue the move. if the liquidity or stop level is broken with a body is a clear change of direction.
Tapak 20RThis strategy originally developed by Jatrader. Kudos to him for giving me chance to develop this indicator.
This script should be use Light Crude Oil Futures 20 Range chart. (This strategy only proven for 20R range chart, Crude Oil.)
How it works?
If current 20R candle is closed green, the closing value must be higher than previous candle to take long position.
If not, it stays as previous direction.
If current candle is closed red, the closing value must be lower than previous candle to take short position.
If not, it stays as previous direction.
How to use this indicator?
1. First, determine the stoploss point from high or low candle.(if current candle is green, stoploss is set higher than high candle and vice versa)
2. Determine how many tick you want to allowed for stoploss, how much profit (ticks) you want to achieve.
3. Determine the color and thickness of each line.
The table will display all value involved with this strategy such as entry value, stoploss value and target profit value.
Please kept in mind that, this is scalping strategy. So, the recommended target profit should be around 10 - 20 ticks.
Thank you.
Easy Scalping Lot Calculator for ForexThe calculator was created to make it easier to calculate the lot size on Forex. I planned to use it for the following pairs: AUDCAD, AUDCHF, AUDJPY, AUDUSD, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPCHF, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, XAUUSD.
The indicator is a table that shows the calculation of the lot for a predetermined stop loss.
For example, you are planning a trade, have calculated a stop loss of 15 points, and by checking the table you understand approximately what lot you need to use to limit your risk.
In the settings you can change the risk and also determine the stop loss value in points.
The calculator does not take into account the spread in the calculations.
There are websites where you can accurately calculate the lot, but if you trade on small time frames this is not suitable for you.
The calculator uses the formula:
Lot size = maximum risk / stop loss (in pips) / minimum pip value x minimum trading lot.
RSI DeviationAn oscillator which de-trends the Relative Strength Index. Rather, it takes a moving average of RSI and plots it's standard deviation from the MA, similar to a Bollinger %B oscillator. This seams to highlight short term peaks and troughs, Indicating oversold and overbought conditions respectively. It is intended to be used with a Dollar Cost Averaging strategy, but may also be useful for Swing Trading, or Scalping on lower timeframes.
When the line on the oscillator line crosses back into the channel, it signals a trade opportunity.
~ Crossing into the band from the bottom, indicates the end of an oversold condition, signaling a potential reversal. This would be a BUY signal.
~ Crossing into the band from the top, indicates the end of an overbought condition, signaling a potential reversal. This would be a SELL signal.
For ease of use, I've made the oscillator highlight the main chart when Overbought/Oversold conditions are occurring, and place fractals upon reversion to the Band. These repaint as they are calculated at close. The earliest trade would occur upon open of the following day.
I have set the default St. Deviation to be 2, but in my testing I have found 1.5 to be quite reliable. By decreasing the St. Deviation you will increase trade frequency, to a point, at the expense of efficiency.
Cheers
DJSnoWMan06
