ATR 3x Multiplier StrategyBeta version
Volatility and Candle Spikes in Trading
Volatility
Volatility refers to the degree of variation in the price of a financial asset over time. It measures how much the price fluctuates and is often associated with risk and uncertainty in the market. High volatility means larger price swings, while low volatility indicates more stable price movements.
Key aspects of volatility:
Measured using indicators like Average True Range (ATR), Bollinger Bands, and Implied Volatility (IV).
Influenced by factors such as market news, economic events, and liquidity.
Higher volatility increases both risk and potential profit opportunities.
Candle Spikes
A candle spike (or wick) refers to a sudden price movement that forms a long shadow or wick on a candlestick chart. These spikes can indicate strong buying or selling pressure, liquidity hunts, or stop-loss triggers.
Types of candle spikes:
Bullish Spike (Long Lower Wick): Indicates buyers rejected lower prices, pushing the price higher.
Bearish Spike (Long Upper Wick): Suggests sellers rejected higher prices, pushing the price lower.
Stop-Loss Hunt: Market makers may trigger stop-losses by creating artificial spikes before reversing the price.
News-Induced Spikes: Economic data releases or unexpected events can cause sudden price jumps.
Understanding volatility and candle spikes can help traders manage risk, spot entry/exit points, and avoid false breakouts. 🚀📈
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Supertrend with 1% Target and 1% StoplossSupertrend Calculation: The Supertrend indicator is calculated using the Average True Range (ATR) and a factor. The factor and ATR length can be adjusted in the inputs.
Long and Short Conditions: The strategy enters a long position when the price crosses above the Supertrend line and a short position when the price crosses below it.
Target and Stop Loss: The strategy places a 1% target and a 1% stop loss for both long and short positions.
Visuals: The stop loss and take profit levels are plotted on the chart for better visibility.
Enhanced Doji Candle StrategyYour trading strategy is a Doji Candlestick Reversal Strategy designed to identify potential market reversals using Doji candlestick patterns. These candles indicate indecision in the market, and when detected, your strategy uses a Simple Moving Average (SMA) with a short period of 20 to confirm the overall market trend. If the price is above the SMA, the trend is considered bullish; if it's below, the trend is bearish.
Once a Doji is detected, the strategy waits for one or two consecutive confirmation candles that align with the market trend. For a bullish confirmation, the candles must close higher than their opening price without significant bottom wicks. Conversely, for a bearish confirmation, the candles must close lower without noticeable top wicks. When these conditions are met, a trade is entered at the market price.
The risk management aspect of your strategy is clearly defined. A stop loss is automatically placed at the nearest recent swing high or low, with a tighter distance of 5 pips to allow for more trading opportunities. A take-profit level is set using a 2:1 reward-to-risk ratio, meaning the potential reward is twice the size of the risk on each trade.
Additionally, the strategy incorporates an early exit mechanism. If a reversal Doji forms in the opposite direction of your trade, the position is closed immediately to minimize losses. This strategy has been optimized to increase trade frequency by loosening the strictness of Doji detection and confirmation conditions while still maintaining sound risk management principles.
The strategy is coded in Pine Script for use on TradingView and uses built-in indicators like the SMA for trend detection. You also have flexible parameters to adjust risk levels, take-profit targets, and stop-loss placements, allowing you to tailor the strategy to different market conditions.
Grim SlashOverview:
The Touch Previous Candle Strategy is a simple yet effective trading approach designed for the 1-hour chart. It focuses on price action by placing trades when the current candle interacts with key levels from the previous candle. The strategy is fully automated and includes risk management with take profit and stop loss levels.
Entry Conditions:
Buy Signal: A buy order is triggered when the low of the current candle touches or drops below the previous candle's closing price.
Sell Signal: A position is closed when the high of the current candle reaches or exceeds the previous candle's highest price.
Risk Management:
Take Profit: The trade is exited automatically when the price increases by 15% from the entry point.
Stop Loss: A stop loss is set at 5% below the entry price to minimize risk.
Best Use Cases:
Works well in volatile markets where price frequently tests previous levels.
Suitable for traders who prefer price-action-based strategies over indicators.
Can be optimized for different assets or timeframes based on market behavior.
MACD Volume Strategy for XAUUSD (15m) [PineIndicators]The MACD Volume Strategy is a momentum-based trading system designed for XAUUSD on the 15-minute timeframe. It integrates two key market indicators: the Moving Average Convergence Divergence (MACD) and a volume-based oscillator to identify strong trend shifts and confirm trade opportunities. This strategy uses dynamic position sizing, incorporates leverage customization, and applies structured entry and exit conditions to improve risk management.
⚙️ Core Strategy Components
1️⃣ Volume-Based Momentum Calculation
The strategy includes a custom volume oscillator to filter trade signals based on market activity. The oscillator is derived from the difference between short-term and long-term volume trends using Exponential Moving Averages (EMAs)
Short EMA (default = 5) represents recent volume activity.
Long EMA (default = 8) captures broader volume trends.
Positive values indicate rising volume, supporting momentum-based trades.
Negative values suggest weak market activity, reducing signal reliability.
By requiring positive oscillator values, the strategy ensures momentum confirmation before entering trades.
2️⃣ MACD Trend Confirmation
The strategy uses the MACD indicator as a trend filter. The MACD is calculated as:
Fast EMA (16-period) detects short-term price trends.
Slow EMA (26-period) smooths out price fluctuations to define the overall trend.
Signal Line (9-period EMA) helps identify crossovers, signaling potential trend shifts.
Histogram (MACD – Signal) visualizes trend strength.
The system generates trade signals based on MACD crossovers around the zero line, confirming bullish or bearish trend shifts.
📌 Trade Logic & Conditions
🔹 Long Entry Conditions
A buy signal is triggered when all the following conditions are met:
✅ MACD crosses above 0, signaling bullish momentum.
✅ Volume oscillator is positive, confirming increased trading activity.
✅ Current volume is at least 50% of the previous candle’s volume, ensuring market participation.
🔻 Short Entry Conditions
A sell signal is generated when:
✅ MACD crosses below 0, indicating bearish momentum.
✅ Volume oscillator is positive, ensuring market activity is sufficient.
✅ Current volume is less than 50% of the previous candle’s volume, showing decreasing participation.
This multi-factor approach filters out weak or false signals, ensuring that trades align with both momentum and volume dynamics.
📏 Position Sizing & Leverage
Dynamic Position Calculation:
Qty = strategy.equity × leverage / close price
Leverage: Customizable (default = 1x), allowing traders to adjust risk exposure.
Adaptive Sizing: The strategy scales position sizes based on account equity and market price.
Slippage & Commission: Built-in slippage (2 points) and commission (0.01%) settings provide realistic backtesting results.
This ensures efficient capital allocation, preventing overexposure in volatile conditions.
🎯 Trade Management & Exits
Take Profit & Stop Loss Mechanism
Each position includes predefined profit and loss targets:
Take Profit: +10% of risk amount.
Stop Loss: Fixed at 10,100 points.
The risk-reward ratio remains balanced, aiming for controlled drawdowns while maximizing trade potential.
Visual Trade Tracking
To improve trade analysis, the strategy includes:
📌 Trade Markers:
"Buy" label when a long position opens.
"Close" label when a position exits.
📌 Trade History Boxes:
Green for profitable trades.
Red for losing trades.
📌 Horizontal Trade Lines:
Shows entry and exit prices.
Helps identify trend movements over multiple trades.
This structured visualization allows traders to analyze past performance directly on the chart.
⚡ How to Use This Strategy
1️⃣ Apply the script to a XAUUSD (Gold) 15m chart in TradingView.
2️⃣ Adjust leverage settings as needed.
3️⃣ Enable backtesting to assess past performance.
4️⃣ Monitor volume and MACD conditions to understand trade triggers.
5️⃣ Use the visual trade markers to review historical performance.
The MACD Volume Strategy is designed for short-term trading, aiming to capture momentum-driven opportunities while filtering out weak signals using volume confirmation.
Candlesticks Not Touching EMA 3 & EMA 5 ScannerCandlesticks Not Touching EMA 3 & EMA 5 Scanner
Short Title: EMA Scanner
Overview
This indicator scans for candlesticks that do not touch the EMA 3 and EMA 5, highlighting potential trading opportunities where price action is significantly distanced from these moving averages. It identifies momentum-based entries and helps traders spot strong trends.
How It Works
It checks if the candle's high and low are completely above or below both EMAs (3 & 5).
It ensures that the distance between the candle and EMA 5 is at least a user-defined multiple of the candle range.
When a valid candle is detected, a triangle marker appears below (for long trades) or above (for short trades).
Trade Execution Strategy
Entry:
Long Entry → Break of the candle’s high
Short Entry → Break of the candle’s low
Stop Loss:
Long SL → Low of the same candle
Short SL → High of the same candle
Target: EMA 5
Additional Features
✅ Plots EMA 3 (Blue) and EMA 5 (Red) for reference
✅ Marks potential long and short trades with arrows
✅ Detects & plots when Target or Stop Loss is hit
✅ Alerts for valid signals, target hits, and stop loss hits
Best Use Cases
🔹 Suitable for intraday & swing traders looking for momentum-based trades
🔹 Works well in trending markets
🔹 Helps identify mean-reversion & breakout opportunities
🚀 Use this indicator to refine your trading setups & boost your market edge! 🚀
Futures Engulfing Candle Size Strategy (Ticks, TP/SL)The Futures Candle Size Strategy is designed to identify and trade significant price movements in the futures market based on candle size. It is optimized for futures instruments like ES, NQ, or CL, where precise tick-level calculations are essential. The strategy includes a customizable take profit and stop loss in ticks and operates only within a specified time window (e.g., 7:00 AM to 9:15 AM CST).
Key Features:
Candle Size Threshold: Trades are triggered when the candle's high-to-low range exceeds the defined threshold in ticks.
Time Filter: Limits trades to the most active market hours, specifically between 7:00 AM and 9:15 AM CST.
Take Profit and Stop Loss: Customizable exit levels in ticks to manage risk and lock in profits.
Long and Short Trades: Automatically places buy or sell orders based on the candle's direction (bullish or bearish).
Alerts: Sends alerts whenever a trade is triggered, helping you stay informed in real-time.
How It Works:
The strategy calculates the size of each candle in ticks and compares it to the user-defined threshold.
If the candle size meets or exceeds the threshold within the specified time range, it triggers a long or short trade.
The trade automatically exits when the price hits the take profit or stop loss levels.
Dynamic S/R Levels: Edge FinderOverview
The Dynamic S/R Levels: Edge Finder indicator is designed to identify dynamic support and resistance levels based on historical price action. It uses a combination of price extremes (highs and lows) over user-defined lookback periods, weighted moving averages (WMAs), and touch-count analysis to provide actionable insights into key market levels.
This tool is ideal for traders who want to:
Identify dynamic support and resistance zones.
Understand the strength of these levels based on price touches.
Make informed decisions using clear, adaptive levels.
How It Works
Dynamic Levels Calculation:
The indicator calculates dynamic support levels using the lowest lows and dynamic resistance levels using the highest highs over user-defined lookback periods (e.g., 20, 40, 60 bars, etc.).
These levels are updated dynamically as new price data becomes available.
Touch Count Analysis:
The indicator counts how many times the price has touched or come close to each support/resistance level within the lookback period.
Levels with more touches are considered stronger and are highlighted accordingly.
Weighted Moving Averages (WMAs):
The indicator uses 50-period and 100-period WMAs to identify the closest support/resistance levels to the current trend.
Levels near these WMAs are given additional weight, as they are more likely to act as significant barriers.
Level Merging:
If two support or resistance levels are too close to each other (based on the minimum distance percentage), the weaker level (with fewer touches) is removed to avoid clutter.
Visualization:
Support levels are displayed as dashed red lines, and resistance levels are displayed as dashed blue lines.
Each level is labeled with its corresponding touch count, allowing traders to quickly assess its strength.
How to Interpret the Indicator
Strong Support/Resistance Levels:
Levels with higher touch counts (e.g., 5, 10, or more) are considered stronger and are more likely to hold in the future.
Use these levels to plan entries, exits, or stop-loss placements.
Proximity to WMAs:
Levels closest to the 50-period or 100-period WMA are more significant, especially in trending markets.
These levels often act as dynamic barriers where price reactions are more likely.
Breakouts and Rejections:
If the price breaks through a strong resistance level, it may indicate a potential bullish trend.
If the price rejects a strong support level, it may indicate a potential bearish trend.
Always confirm breakouts or rejections with additional analysis (e.g., volume, candlestick patterns).
Level Merging:
Merged levels indicate areas of high confluence, where multiple support/resistance zones overlap.
These areas are particularly important for decision-making, as they represent stronger market reactions.
Key Features
Customizable Lookback Periods: Adjust the lookback periods for each dynamic level to suit your trading style.
Touch Count Labels: Quickly identify the strength of each level based on the number of price touches.
Adaptive Levels: The indicator dynamically updates levels based on recent price action.
Clean Visualization: Levels are automatically merged to avoid clutter and provide a clear view of the market structure.
Usage Tips
Trend Identification: Combine the indicator with trend-following tools (e.g., moving averages, trendlines) to confirm the overall market direction.
Risk Management: Use the identified levels to set stop-loss orders or take-profit targets.
Timeframe Flexibility: The indicator works on all timeframes, but it is particularly effective on higher timeframes (e.g., 1H, 4H, Daily) for more reliable levels.
Example Scenarios
Bounce Trade:
If the price approaches a strong support level (high touch count) and shows signs of rejection (e.g., bullish candlestick patterns), consider a long position with a stop-loss below the support level.
Breakout Trade:
If the price breaks above a strong resistance level with high volume, consider a long position with a target at the next resistance level.
Range-Bound Market:
In a sideways market, use the support and resistance levels to identify range boundaries and trade bounces between them.
Disclaimer
Dynamic S/R Levels: Edge Finder is a technical analysis tool designed to identify dynamic support and resistance levels based on historical price action. It is intended for informational and educational purposes only. This indicator does not provide financial, investment, or trading advice. Users are solely responsible for their trading decisions and should conduct their own research and analysis before making any trades. The developer of this tool is not liable for any financial losses or damages resulting from the use of this indicator. Trading in financial markets involves risk, and you should only trade with capital you can afford to lose.
Enhanced VIP-like IndicatorSettings Breakdown Tutorial: Optimizing a Trading Strategy
This guide explains the key trading strategy settings and how to customize them based on your trading style and goals. Each parameter is essential for tailoring the strategy to market conditions and your risk appetite.
1. Short Moving Average Length (Default: 9)
• Purpose: Tracks short-term trends using a small number of candles.
• Settings Tips:
• Smaller Values (e.g., 9): Quickly react to price changes, useful for fast-moving markets.
• Larger Values (e.g., 12-15): Generate smoother signals for less volatile trades.
2. Long Moving Average Length (Default: 21)
• Purpose: Identifies long-term trends.
• Settings Tips:
• Higher Values (e.g., 50): Spot broader trends at the expense of slower signals.
• Trend Analysis: The interaction of short and long MAs helps determine bullish or bearish trends (e.g., bullish when short MA crosses above long MA).
3. Higher Timeframe MA Length (Default: 200)
• Purpose: Filters long-term trends on a higher timeframe (e.g., daily).
• Settings Tips:
• 200 Periods: Standard for defining bullish (price above) or bearish (price below) markets.
• Adjustable: Use 100 for faster responses or stick with 200 for reliability.
4. Higher Timeframe (Default: 1 Day)
• Purpose: Defines the timeframe for the higher moving average.
• Settings Tips:
• Shorter Timeframes (e.g., 4 Hours): More frequent trading signals.
• Daily Timeframe: Best for swing trading and identifying macro trends.
5. RSI Length (Default: 14)
• Purpose: Measures momentum over a specific number of candles.
• Settings Tips:
• Lower Values (e.g., 7): More sensitive to price changes, ideal for quick trades.
• Higher Values (e.g., 20): Smooth signals for more stable markets.
6. RSI Overbought (70) and Oversold (30) Levels
• Purpose: Marks thresholds for overbought and oversold conditions.
• Settings Tips:
• Stricter Levels (e.g., 80/20): Fewer, higher-quality signals.
• Looser Levels (e.g., 65/35): More frequent signals, suitable for active trading.
7. Pivot Left Bars (5) and Pivot Right Bars (5)
• Purpose: Confirms pivot points (support/resistance) based on surrounding candles.
• Settings Tips:
• Higher Values (e.g., 10): Stronger but less frequent pivot points.
• Lower Values: More responsive, for traders seeking quick pivots.
8. Take Profit Percentage (Default: 2%)
• Purpose: Defines the profit level to exit trades.
• Settings Tips:
• Higher Values (e.g., 5%): For swing traders holding positions longer.
• Lower Values (e.g., 1%): For scalpers focusing on quick trades.
9. Minimum Volume (Default: 1,000,000)
• Purpose: Ensures sufficient liquidity for trading.
• Settings Tips:
• Lower Values: For lower-volume markets.
• Higher Values: Reduces risk in high-liquidity assets.
10. Stop Loss Percentage (Default: 1%)
• Purpose: Sets the maximum acceptable loss per trade.
• Settings Tips:
• Lower Values (e.g., 0.5%): Reduces risk, suited for conservative trading.
• Higher Values (e.g., 2%): Allows more price fluctuation, ideal for volatile markets.
11. Entry Conditions
• Options:
• MA Crossover & RSI: Combines trend-following and momentum for well-rounded signals.
• Pivot Breakout: Focuses on support/resistance breakouts for high-impact trades.
• Settings Tips:
• Trend-Following Traders: Use MA Crossover & RSI.
12. Exit Conditions
• Options:
• Opposite Signal: Exits when the trade’s opposite condition occurs (e.g., bullish to bearish).
• Fixed Take Profit/Stop Loss: Exits based on predefined profit/loss thresholds.
• Settings Tips:
• Opposite Signal: Ideal for trend-following strategies.
Summary
Customizing these settings aligns the strategy with your trading goals. Test configurations in a demo environment before live trading to refine the approach and optimize results. Always balance profit potential with risk management.
• Fixed Levels: Better for strict risk management.
• Breakout Traders: Opt for Pivot Breakout.
Snipe 1-Minute IntradayPurpose
This script demonstrates a simple intraday approach using RSI, EMAs, VWAP, and an optional volume filter. It plots visual buy (bullish) and sell (bearish) signals on the chart under certain conditions. You can use it as a starting point to explore or develop your own intraday strategies.
Key Features
1. VWAP (Volume Weighted Average Price)
Plots the built-in VWAP for additional context on intraday price action.
2. EMA Crossover
Uses two EMAs (fast and slow). A bullish signal triggers when the fast EMA is above the slow EMA, and a bearish signal triggers when the fast EMA is below the slow EMA.
3. RSI Momentum Filter
An RSI reading above 50 indicates bullish momentum; below 50 indicates bearish momentum.
4. Volume Filter (Optional)
Compares the current bar’s volume against the average volume (over a user-defined period). When enabled, signals only appear if the current volume exceeds the average.
5. Time Window (Optional)
Allows you to define a specific time window (e.g., the first hour of trading) for valid signals. You can enable or disable this filter and set your preferred time zone.
How the Signals Are Generated
• Bullish Signal
o Occurs when:
1. Price is above VWAP.
2. Fast EMA is above Slow EMA.
3. RSI is above 50.
4. (Optional) Current volume exceeds the average volume if the volume filter is enabled.
5. (Optional) The chart’s timestamp is within the specified session if the time filter is enabled.
A green triangle is plotted below the bar, and an optional background highlight is shown.
• Bearish Signal
Occurs when the conditions are inverted (price below VWAP, fast EMA below slow EMA, RSI below 50, volume filter and time window—if enabled—are satisfied).
A red triangle is plotted above the bar, and an optional background highlight is shown.
How to Use
1. Load on a 1-Minute Chart (Recommended)
This script is intended for intraday timeframes (specifically 1-minute). Feel free to experiment with other timeframes.
2. Adjust Inputs
You can modify the RSI length, EMA lengths, and volume lookback to suit your preferences or trading style.
If you prefer signals outside the default session hours, turn off “Use Time Filter for Signals?” or change the session window and time zone.
3. Enable or Disable Volume Filter
Turn this on if you only want signals during higher-than-average volume bars.
4. Combine with Other Analysis
This script can be used as a visual tool; however, it is not a complete trading system by itself. Consider additional technical or fundamental analysis to validate your trading decisions.
5. Risk Management
Always practice sound risk management. Setting appropriate stop-losses or using position sizing techniques can help manage potential losses.
Important Notes and Disclaimers
• Educational Only: This script is for demonstration and educational purposes and does not guarantee future results.
• No Financial Advice: Nothing here should be construed as financial or investment advice. Always do your own research and consider consulting a qualified financial professional.
• Test Before Using Live: If you plan to incorporate this script into a strategy, backtest it on historical data and consider forward-testing on a demo account.
• License: This code is subject to the Mozilla Public License 2.0.
Swing High/Low Pivots Strategy [LV]The Swing High/Low Pivots Strategy was developed as a counter-momentum trading tool.
The strategy is suitable for any market and the default values used in the input settings menu are set for Bitcoin (best on 15min). These values, expressed in minimum ticks (or pips if symbol is Forex) make this tool perfectly adaptable to every symbol and/or timeframe.
Check tooltips in the settings menu for more details about every user input.
STRTEGY ENTRY & EXIT MECHANISMS:
Trades Entry based on the detection of swing highs and lows for short and long entries respectively, validated by:
- Limit orders placed after each new pivot level confirmation
- Moving averages trend filter (if enabled)
- No active trade currently open
Trades Exit when the price reaches take-profit or stop-loss level as defined in the settings menu. A double entry/second take-profit level can be enabled for partial exits, with dynamic stop-loss adjustment for the remaining position.
Enhanced Trade Precision:
By limiting entries to confirmed swing high (HH, LH) or swing low (HL, LL) pivot points, the strategy ensures that trades occur at levels of significant price reversals. This precision reduces the likelihood of entering trades in the midst of a trend or during uncertain price action.
Risk Management Optimization:
The strategy incorporates clearly defined stop-loss (SL) and take-profit (TP) levels derived from the pivot points. This structured approach minimizes potential losses while locking in profits, which is critical for consistent performance in volatile markets.
Trend Filtering for Better Entry:
The use of a configurable moving average filter adds a layer of trend validation. This prevents entering trades against the dominant market trend, increasing the probability of success for each trade.
Avoidance of Noise:
The lookback period (length parameter) confirms pivots only after a set number of bars, effectively filtering out market noise and ensuring that entries are based on reliable, well-defined price movements.
Adaptability Across Markets:
The strategy is versatile and can be applied across different markets (Forex, stocks, crypto) due to its dynamic use of ticks and pips converters. It adapts seamlessly to varying price scales and asset types.
Dual Quantity Entries:
The original and optionnal double-entry mechanism allows traders to capture both short-term and extended profits by scaling out of positions. This adaptive approach caters to varying risk appetites and market conditions.
Clear Visualization:
The plotted pivot points, entry limits, SL, and TP levels provide visual clarity, making it easy for traders to track the strategy's behavior and make informed decisions.
Automated Execution with Alerts:
Integrated alerts for both entries and exits ensure timely actions without the need for constant market monitoring, enhancing efficiency. Configurable alert messages are suitable for API use.
Any feedback, comments, or suggestions for improvement are always welcome.
Hope you enjoy!
RSI and Bollinger Bands Screener [deepakks444]Indicator Overview
The indicator is designed to help traders identify potential long signals by combining the Relative Strength Index (RSI) and Bollinger Bands across multiple timeframes. This combination allows traders to leverage the strengths of both indicators to make more informed trading decisions.
Understanding RSI
What is RSI?
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Developed by J. Welles Wilder Jr. for stocks and forex trading, the RSI is primarily used to identify overbought or oversold conditions in an asset.
How RSI Works:
Calculation: The RSI is calculated using the average gains and losses over a specified period, typically 14 periods.
Range: The RSI oscillates between 0 and 100.
Interpretation:
Key Features of RSI:
Momentum Indicator: RSI helps identify the momentum of price movements.
Divergences: RSI can show divergences, where the price makes a higher high, but the RSI makes a lower high, indicating potential reversals.
Trend Identification: RSI can also help identify trends. In an uptrend, the RSI tends to stay above 50, and in a downtrend, it tends to stay below 50.
Understanding Bollinger Bands
What is Bollinger Bands?
Bollinger Bands are a type of trading band or envelope plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of a price. Developed by financial analyst John Bollinger, Bollinger Bands consist of three lines:
Upper Band: SMA + (Standard Deviation × Multiplier)
Middle Band (Basis): SMA
Lower Band: SMA - (Standard Deviation × Multiplier)
How Bollinger Bands Work:
Volatility Measure: Bollinger Bands measure the volatility of the market. When the bands are wide, it indicates high volatility, and when the bands are narrow, it indicates low volatility.
Price Movement: The price tends to revert to the mean (middle band) after touching the upper or lower bands.
Support and Resistance: The upper and lower bands can act as dynamic support and resistance levels.
Key Features of Bollinger Bands:
Volatility Indicator: Bollinger Bands help traders understand the volatility of the market.
Mean Reversion: Prices tend to revert to the mean (middle band) after touching the bands.
Squeeze: A Bollinger Band Squeeze occurs when the bands narrow significantly, indicating low volatility and a potential breakout.
Combining RSI and Bollinger Bands
Strategy Overview:
The strategy aims to identify potential long signals by combining RSI and Bollinger Bands across multiple timeframes. The key conditions are:
RSI Crossing Above 60: The RSI should cross above 60 on the 15-minute timeframe.
RSI Above 60 on Higher Timeframes: The RSI should already be above 60 on the hourly and daily timeframes.
Price Above 20MA or Walking on Upper Bollinger Band: The price should be above the 20-period moving average of the Bollinger Bands or walking on the upper Bollinger Band.
Strategy Details:
RSI Calculation:
Calculate the RSI for the 15-minute, 1-hour, and 1-day timeframes.
Check if the RSI crosses above 60 on the 15-minute timeframe.
Ensure the RSI is above 60 on the 1-hour and 1-day timeframes.
Bollinger Bands Calculation:
Calculate the Bollinger Bands using a 20-period moving average and 2 standard deviations.
Check if the price is above the 20-period moving average or walking on the upper Bollinger Band.
Entry and Exit Signals:
Long Signal: When all the above conditions are met, consider a long entry.
Exit: Exit the trade when the price crosses below the 20-period moving average or the stop-loss is hit.
Example Usage
Setup:
Add the indicator to your TradingView chart.
Configure the inputs as per your requirements.
Monitoring:
Look for the long signal on the chart.
Ensure that the RSI is above 60 on the 15-minute, 1-hour, and 1-day timeframes.
Check that the price is above the 20-period moving average or walking on the upper Bollinger Band.
Trading:
Enter a long position when the criteria are met.
Set a stop-loss below the low of the recent 15-minute candle or based on your risk management rules.
Monitor the trade and exit when the RSI returns below 60 on any of the timeframes or when the price crosses below the 20-period moving average.
House Rules Compliance
No Financial Advice: This strategy is for educational purposes only and should not be construed as financial advice.
Risk Management: Always use proper risk management techniques, including stop-loss orders and position sizing.
Past Performance: Past performance is not indicative of future results. Always conduct your own research and analysis.
TradingView Guidelines: Ensure that any shared scripts or strategies comply with TradingView's terms of service and community guidelines.
Conclusion
This strategy combines RSI and Bollinger Bands across multiple timeframes to identify potential long signals. By ensuring that the RSI is above 60 on higher timeframes and that the price is above the 20-period moving average or walking on the upper Bollinger Band, traders can make more informed decisions. Always remember to conduct thorough research and use proper risk management techniques.
MACD Aggressive Scalp SimpleComment on the Script
Purpose and Structure:
The script is a scalping strategy based on the MACD indicator combined with EMA (50) as a trend filter.
It uses the MACD histogram's crossover/crossunder of zero to trigger entries and exits, allowing the trader to capitalize on short-term momentum shifts.
The use of strategy.close ensures that positions are closed when specified conditions are met, although adjustments were made to align with Pine Script version 6.
Strengths:
Simplicity and Clarity: The logic is straightforward and focuses on essential scalping principles (momentum-based entries and exits).
Visual Indicators: The plotted MACD line, signal line, and histogram columns provide clear visual feedback for the strategy's operation.
Trend Confirmation: Incorporating the EMA(50) as a trend filter helps avoid trades that go against the prevailing trend, reducing the likelihood of false signals.
Dynamic Exit Conditions: The conditional logic for closing positions based on weakening momentum (via MACD histogram change) is a good way to protect profits or minimize losses.
Potential Improvements:
Parameter Inputs:
Make the MACD (12, 26, 9) and EMA(50) values adjustable by the user through input statements for better customization during backtesting.
Example:
pine
Copy code
macdFast = input(12, title="MACD Fast Length")
macdSlow = input(26, title="MACD Slow Length")
macdSignal = input(9, title="MACD Signal Line Length")
emaLength = input(50, title="EMA Length")
Stop Loss and Take Profit:
The strategy currently lacks explicit stop-loss or take-profit levels, which are critical in a scalping strategy to manage risk and lock in profits.
ATR-based or fixed-percentage exits could be added for better control.
Position Size and Risk Management:
While the script uses 50% of equity per trade, additional options (e.g., fixed position sizes or risk-adjusted sizes) would be beneficial for flexibility.
Avoid Overlapping Signals:
Add logic to prevent overlapping signals (e.g., opening a new position immediately after closing one on the same bar).
Backtesting Optimization:
Consider adding labels or markers (label.new or plotshape) to visualize entry and exit points on the chart for better debugging and analysis.
The inclusion of performance metrics like max drawdown, Sharpe ratio, or profit factor would help assess the strategy's robustness during backtesting.
Compatibility with Live Trading:
The strategy could be further enhanced with alert conditions using alertcondition to notify the trader of buy/sell signals in real-time.
Hidden SMT Divergence ICT 01 [TradingFinder] HSMT SMC Technique🔵 Introduction
Hidden SMT Divergence, an advanced concept within the Smart Money Technique (SMT), identifies discrepancies between correlated assets by focusing on their closing prices.
Unlike the standard SMT Divergence, which uses high and low prices for analysis, Hidden SMT Divergence uncovers subtle signals by examining divergences based on the assets' closing values.
These divergences often highlight potential reversals or trend continuations, making this technique a valuable tool for traders aiming to anticipate market movements.
This approach applies across various markets and asset classes, including :
Commodities : CAPITALCOM:GOLD vs. CAPITALCOM:SILVER or BLACKBULL:BRENT vs. BLACKBULL:WTI .
Indices : NASDAQ:NDX vs. TVC:SPX vs. FX:US30 .
FOREX : FX:EURUSD vs. OANDA:GBPUSD vs. TVC:DXY (US Dollar Index).
Cryptocurrencies : BITSTAMP:BTCUSD vs. COINBASE:ETHUSD vs. KUCOIN:SOLUSDT vs. CRYPTOCAP:TOTAL3 .
Volatility Measures : FOREXCOM:XAUUSD vs. TVC:VIX (Volatility Index).
By identifying divergences within these asset groups, traders can gain actionable insights into potential market reversals or shifts in trend direction. Hidden SMT Divergence is particularly effective for pinpointing subtle market signals that traditional methods may overlook.
Bullish Hidden SMT Divergence : This divergence emerges when one asset forms a higher low, while the correlated asset creates a lower low in terms of their closing prices. It often signals weakening downward momentum and a potential reversal to the upside.
Bearish Hidden SMT Divergence : This occurs when one asset establishes a higher high, while the correlated asset forms a lower high based on their closing prices. It typically reflects declining upward momentum and a probable shift to the downside.
🔵 How to Use
The Hidden SMT Divergence indicator provides traders with a systematic approach to identify market reversals or trend continuations through divergences in closing prices between two correlated assets.
🟣 Bullish Hidden SMT Divergence
Bullish Hidden SMT Divergence occurs when the closing price of the primary asset forms a higher low, while the correlated asset creates a lower low. This pattern indicates weakening downward momentum and signals a potential reversal to the upside.
After identifying the divergence, confirm it using additional tools like support levels, volume trends, or indicators such as RSI and MACD. Enter a buy position as the price shows signs of reversal near support zones, ensuring proper risk management by placing a stop-loss below the support level.
Bearish Hidden SMT Divergence
Bearish Hidden SMT Divergence is identified when the closing price of the primary asset forms a higher high, while the correlated asset creates a lower high. This divergence suggests a weakening uptrend and a likely reversal to the downside.
Validate the signal by examining resistance levels, declining volume, or complementary indicators. Consider entering a sell position as the price starts declining from resistance levels, and set a stop-loss above the resistance zone to limit potential losses.
🔵 Setting
Second Symbol : Select the secondary asset to compare with the primary asset. By default, "XAUUSD" (Gold) is used, but it can be customized to any stock, cryptocurrency, or currency pair.
Divergence Fractal Periods : Defines the number of past candles considered for identifying divergences. The default value is 2, but traders can adjust it for greater precision.
Bullish Divergence Line : Displays a dashed line connecting the points of bullish divergence.
Bearish Divergence Line : Shows a similar line for bearish divergence points.
Bullish Divergence Label : Marks areas of bullish divergence with a "+SMT" label.
Bearish Divergence Label : Highlights bearish divergences with a "-SMT" label.
Chart Type : Choose between Line or Candle charts for enhanced visualization.
🔵 Conclusion
Hidden SMT Divergence offers traders a refined method for identifying market reversals by analyzing closing price discrepancies between correlated assets. Its ability to uncover subtle divergences makes it an essential tool for traders who aim to stay ahead of market trends.
By integrating this technique with other technical analysis tools and sound risk management, traders can enhance their decision-making process and capitalize on market opportunities with greater confidence.
Hidden SMT Divergence’s focus on closing prices ensures more precise signals, helping traders refine their strategies across various markets, including Forex, commodities, indices, and cryptocurrencies.
Its open-source nature allows for customization and verification, providing transparency and flexibility to suit diverse trading needs. Hidden SMT Divergence stands as a powerful addition to the arsenal of any trader seeking to unlock hidden opportunities in dynamic financial markets.
100s Level LinesPurpose of the Script
- Visualize Key Levels: The script highlights round-number levels (e.g., 100, 200, 300) automatically, making it easy to identify areas where price action might react.
- Improve Decision-Making: These levels can serve as benchmarks for entry, exit, stop-loss, or take-profit placement.
- Simplicity: Instead of manually drawing levels, the script dynamically updates to match the chart's price range.
Features of the Script
- Dynamic Level Calculation: The script calculates 100s levels based on the asset's current price range and plots lines above and below the visible chart area.
- Customizable Settings: Adjust line color, style (solid, dashed, or dotted), and width to suit your charting preferences.
- Auto-Scaling: Automatically adjusts to the chart's visible price range, ensuring plotted levels are always relevant.
- Labeling: Each line can optionally display its exact value (e.g., "1400," "1500") for easy reference.
- Performance Optimization: Efficient calculations ensure the script doesn’t slow down TradingView, even on volatile instruments like the US100.
How the Script Works
- The script detects the highest and lowest visible prices on the chart to define the range.
- Starting from the lowest 100-point increment within the visible range, the script calculates all 100-point levels up to the highest visible price.
- It plots horizontal lines across the chart for each calculated level.
- Optionally, labels can be added to display the value of each level.
How to Use the Script
- Copy the script code into the Pine Script editor in TradingView and apply it to your chart.
- Open the script settings to adjust line color, style, width, and label visibility.
- Use the plotted 100s levels as psychological support and resistance zones for trade entries, exits, and stop-loss or take-profit placement.
Example Use Cases
- Identify potential reversal points as the price approaches a 100s level in intraday trading.
- Confirm support or resistance zones on higher timeframes for swing trading setups.
- Use the levels to trail stop-losses during trending markets and lock in profits incrementally.
Customizable Options
- Line Color: Change the color of the horizontal lines.
- Line Style: Choose solid, dashed, or dotted lines.
- Line Width: Adjust the thickness of the lines for better visibility.
- Show Labels: Toggle price values on or off for each level.
Advantages
- Saves Time: Automatically plots levels, eliminating manual effort.
- Adaptable: Works on all timeframes and assets.
- Psychological Relevance: Highlights levels that align with trader psychology and market behavior.
SnowdexUtilsLibrary "SnowdexUtils"
the various function that often use when create a strategy trading.
f_backtesting_date(train_start_date, train_end_date, test_date, deploy_date)
Backtesting within a specific window based on deployment and testing dates.
Parameters:
train_start_date (int) : the start date for training the strategy.
train_end_date (int) : the end date for training the strategy.
test_date (bool) : if true, backtests within the period from `train_end_date` to the current time.
deploy_date (bool) : if true, the strategy backtests up to the current time.
Returns: given time falls within the specified window for backtesting.
f_init_ma(ma_type, source, length)
Initializes a moving average based on the specified type.
Parameters:
ma_type (simple string) : the type of moving average (e.g., "RMA", "EMA", "SMA", "WMA").
source (float) : the input series for the moving average calculation.
length (simple int) : the length of the moving average window.
Returns: the calculated moving average value.
f_init_tp(side, entry_price, rr, sl_open_position)
Calculates the target profit based on entry price, risk-reward ratio, and stop loss. The formula is `tp = entry price + (rr * (entry price - stop loss))`.
Parameters:
side (bool) : the trading side (true for long, false for short).
entry_price (float) : the entry price of the position.
rr (float) : the risk-reward ratio.
sl_open_position (float) : the stop loss price for the open position.
Returns: the calculated target profit value.
f_round_up(number, decimals)
Rounds up a number to a specified number of decimals.
Parameters:
number (float)
decimals (int)
Returns: The rounded-up number.
f_get_pip_size()
Calculates the pip size for the current instrument.
Returns: Pip size adjusted for Forex instruments or 1 for others.
f_table_get_position(value)
Maps a string to a table position constant.
Parameters:
value (string) : String representing the desired position (e.g., "Top Right").
Returns: The corresponding position constant or `na` for invalid values.
Honest Volatility Grid [Honestcowboy]The Honest Volatility Grid is an attempt at creating a robust grid trading strategy but without standard levels.
Normal grid systems use price levels like 1.01;1.02;1.03;1.04... and place an order at each of these levels. In this program instead we create a grid using keltner channels using a long term moving average.
🟦 IS THIS EVEN USEFUL?
The idea is to have a more fluid style of trading where levels expand and follow price and do not stick to precreated levels. This however also makes each closed trade different instead of using fixed take profit levels. In this strategy a take profit level can even be a loss. It is useful as a strategy because it works in a different way than most strategies, making it a good tool to diversify a portfolio of trading strategies.
🟦 STRATEGY
There are 10 levels below the moving average and 10 above the moving average. For each side of the moving average the strategy uses 1 to 3 orders maximum (3 shorts at top, 3 longs at bottom). For instance you buy at level 2 below moving average and you increase position size when level 6 is reached (a cheaper price) in order to spread risks.
By default the strategy exits all trades when the moving average is reached, this makes it a mean reversion strategy. It is specifically designed for the forex market as these in my experience exhibit a lot of ranging behaviour on all the timeframes below daily.
There is also a stop loss at the outer band by default, in case price moves too far from the mean.
What are the risks?
In case price decides to stay below the moving average and never reaches the outer band one trade can create a very substantial loss, as the bands will keep following price and are not at a fixed level.
Explanation of default parameters
By default the strategy uses a starting capital of 25000$, this is realistic for retail traders.
Lot sizes at each level are set to minimum lot size 0.01, there is no reason for the default to be risky, if you want to risk more or increase equity curve increase the number at your own risk.
Slippage set to 20 points: that's a normal 2 pip slippage you will find on brokers.
Fill limit assumtion 20 points: so it takes 2 pips to confirm a fill, normal forex spread.
Commission is set to 0.00005 per contract: this means that for each contract traded there is a 5$ or whatever base currency pair has as commission. The number is set to 0.00005 because pinescript does not know that 1 contract is 100000 units. So we divide the number by 100000 to get a realistic commission.
The script will also multiply lot size by 100000 because pinescript does not know that lots are 100000 units in forex.
Extra safety limit
Normally the script uses strategy.exit() to exit trades at TP or SL. But because these are created 1 bar after a limit or stop order is filled in pinescript. There are strategy.orders set at the outer boundaries of the script to hedge against that risk. These get deleted bar after the first order is filled. Purely to counteract news bars or huge spikes in price messing up backtest.
🟦 VISUAL GOODIES
I've added a market profile feature to the edge of the grid. This so you can see in which grid zone market has been the most over X bars in the past. Some traders may wish to only turn on the strategy whenever the market profile displays specific characteristics (ranging market for instance).
These simply count how many times a high, low, or close price has been in each zone for X bars in the past. it's these purple boxes at the right side of the chart.
🟦 Script can be fully automated to MT5
There are risk settings in lot sizes or % for alerts and symbol settings provided at the bottom of the indicator. The script will send alert to MT5 broker trying to mimic the execution that happens on tradingview. There are always delays when using a bridge to MT5 broker and there could be errors so be mindful of that. This script sends alerts in format so they can be read by tradingview.to which is a bridge between the platforms.
Use the all alert function calls feature when setting up alerts and make sure you provide the right webhook if you want to use this approach.
Almost every setting in this indicator has a tooltip added to it. So if any setting is not clear hover over the (?) icon on the right of the setting.
US 30 Daily Breakout Strategy The US 30 Daily Breakout Strategy (Single Trade Per Breakout/Breakdown) is a trading approach for the US 30 (Dow Jones Industrial Average) that aims to capture breakout or breakdown moves based on the previous day’s high and low levels. The strategy includes mechanisms to take only one trade per breakout (or breakdown) each day and ensures that each trade is executed only when no other trade is open.
Entry Conditions:
Long Trade (Breakout): The strategy initiates a long position if the current candle closes above the previous day's high, indicating an upward breakout. Only one breakout trade can occur per day, regardless of whether the price remains above the previous high.
Short Trade (Breakdown): The strategy initiates a short position if the current candle closes below the previous day's low, indicating a downward breakdown. Similarly, only one breakdown trade can occur per day.
Risk Management:
Take Profit and Stop Loss: Each trade has a take profit and stop loss of 50 points, aiming to cap profit and limit loss effectively for each position.
Daily Reset Mechanism:
At the start of each new day (based on New York time), the strategy resets its flags, allowing it to look for new breakout or breakdown trades. This reset ensures that only one trade can be taken per breakout or breakdown level each day.
Execution Logic
Flags for Trade Limitation: Flags (breakout_traded and breakdown_traded) are used to ensure only one breakout or breakdown trade is taken per day. These flags reset daily.
Dynamic Plotting: The previous day’s high and low are plotted on the chart, providing a visual reference for potential breakout or breakdown levels.
Overall Objective
This strategy is designed to capture single-directional daily moves by identifying significant breakouts or breakdowns beyond the previous day’s range. The fixed profit and loss limits ensure the trades are managed with controlled risk, while the daily reset feature prevents overtrading and limits each trade opportunity to one breakout and one breakdown attempt per day.
Bullish B's - RSI Divergence StrategyThis indicator strategy is an RSI (Relative Strength Index) divergence trading tool designed to identify high-probability entry and exit points based on trend shifts. It utilizes both regular and hidden RSI divergence patterns to spot potential reversals, with signals for both bullish and bearish conditions.
Key Features
Divergence Detection:
Bullish Divergence: Signals when RSI indicates momentum strengthening at a lower price level, suggesting a reversal to the upside.
Bearish Divergence: Signals when RSI shows weakening momentum at a higher price level, indicating a potential downside reversal.
Hidden Divergences: Looks for hidden bullish and bearish divergences, which signal trend continuation points where price action aligns with the prevailing trend.
Volume-Adjusted Entry Signals:
The strategy enters long trades when RSI shows bullish or hidden bullish divergence, indicating an upward momentum shift.
An optional volume filter ensures that only high-volume, high-conviction trades trigger a signal.
Exit Signals:
Exits long positions when RSI reaches a customizable overbought level, typically indicating a potential reversal or profit-taking opportunity.
Also closes positions if bearish divergence signals appear after a bullish setup, providing protection against trend reversals.
Trailing Stop-Loss:
Uses a trailing stop mechanism based on ATR (Average True Range) or a percentage threshold to lock in profits as the price moves in favor of the trade.
Alerts and Custom Notifications:
Integrated with TradingView alerts to notify the user when entry and exit conditions are met, supporting timely decision-making without constant monitoring.
Customizable Parameters:
Users can adjust the RSI period, pivot lookback range, overbought level, trailing stop type (ATR or percentage), and divergence range to fit their trading style.
Ideal Usage
This strategy is well-suited for trend traders and swing traders looking to capture reversals and trend continuations on medium to long timeframes. The divergence signals, paired with trailing stops and volume validation, make it adaptable for multiple asset classes, including stocks, forex, and crypto.
Summary
With its focus on RSI divergence, trailing stop-loss management, and volume filtering, this strategy aims to identify and capture trend changes with minimized risk. This allows traders to efficiently capture profitable moves and manage open positions with precision.
This Strategy BEST works with GLD!
Stochastic RSI OHLC StrategyThe script titled "Stochastic RSI High Low Close Bars" is a versatile trading strategy implemented in Pine Script, designed for TradingView. Here's an overview of its features:
Description
This strategy leverages the Stochastic RSI to determine entry and exit signals in the market, focusing on high, low, and close values of the indicator. It incorporates various trading styles, stop-loss mechanisms, and multi-timeframe analysis to adapt to different market conditions.
Key Features
Stochastic RSI Analysis:
Uses the Stochastic RSI to identify potential entry points for long and short positions.
Tracks high, low, and close values for more granular analysis.
Multiple Trading Styles:
Supports diverse trading styles like Volume Color Swing, RSI Divergence, RSI Pullback, and more.
Allows switching between these styles to suit market dynamics.
Session-Based Trading:
Offers session control, limiting trades to specific hours (e.g., NY sessions).
Can close all positions at the end of the trading day.
Stop-Loss and Take-Profit Mechanisms:
Includes both static and dynamic stop-losses, with options for time-based stops, trailing stops, and momentum-based exits.
Customizable take-profit levels ensure efficient trade management.
Volume Analysis:
Integrates volume indicators to add a bias for trade entries and exits, enhancing signal reliability.
Multi-Timeframe Integration:
Employs multi-timeframe RSI analysis, allowing the strategy to capture broader trends and optimize entries.
This script is designed to provide flexibility and adaptability, making it useful for different trading strategies and market conditions. It is suitable for traders looking to refine their entries and exits with a focus on the Stochastic RSI.
E9 Shark-32 PatternUnderstanding the Shark-32 Pattern and its Trading Applications
The Shark-32 Pattern is a bearish technical trading formation used to predict market reversals or trend continuations. It highlights a downward move followed by a corrective rally, signaling a potential resumption of the downtrend. Here’s a breakdown of how it works:
What is the Shark-32 Pattern?
The Shark-32 pattern is a five-wave structure typically observed in bearish markets:
Wave 0 to X: A significant price decline starts the pattern.
Wave X to A: A correction pushes the price slightly upward.
Wave A to B: The price drops again but doesn’t reach the initial low.
Wave B to C: A final sharp decline concludes the pattern.
Once Wave C is formed, it suggests that the market will continue to move downward, presenting a potential selling or shorting opportunity.
Using the Pattern in Trading
This pattern is valuable for traders seeking high-probability bearish setups. The goal is to capitalize on the continuation of a downtrend following the corrective rally (X to A). Identifying the Shark-32 pattern helps anticipate the next wave of selling pressure.
Trading Setup
Identify a Shark-32 pattern.
If the price closes above the pattern's high, buy at the open the next day.
If the price closes below the pattern's low, short at the open the next day.
Sell/cover when the price moves 7% in the direction of the breakout.
Close the trade for a loss if the price moves 7% in the opposite direction.
For example, in a bull market after an upward breakout from a Shark-32, the net gain was $69.55. The method won 56% of the time with 5,218 winning trades and an average gain of $714.07. Conversely, 44% of trades were losers, with an average loss of $747.33. The average holding period was 26 calendar days.
The gains and losses were closely aligned with the 7% threshold set for this test.
Key Target Levels
To enhance the strategy, use dotted projection lines as target levels:
Upper Target: Drawn above the high of the corrective rally (Wave A). If the price breaks above this line, it may signal further upward movement, indicating a potentially weaker downtrend.
Lower Target: Positioned below the low of Wave C, providing a target for bearish trades.
These lines help determine future price targets and assist in setting take-profit or stop-loss levels.
Trading the Breakout
Look for breakouts once the Shark-32 pattern is identified:
Upward Breakout: If the price closes above the green line (high from two bars ago), it indicates a potential reversal to the upside.
Downward Breakout: If the price breaks below the red line (low from two bars ago), it confirms the bearish continuation.
Breakouts allow traders to adjust their positions based on market shifts.
Trading Tips
Continuation: The Shark-32 pattern acts as a continuation 60% of the time, confirming the ongoing trend.
Breakout Confirmation: Wait for the price to close above or below the pattern’s key levels before entering a trade.
Trade with the Trend: Since the Shark-32 is a continuation pattern, expect the breakout to align with the inbound price trend.
Symmetry: Patterns with symmetry often perform better. For more insights, refer to detailed trading literature.
Half-Staff: The Shark-32 can form midway in a trend, similar to flags and pennants.
Shark-32: Trading Performance
Based on an analysis of 23,369 trades, the following performance metrics were observed:
Bull Market with Upward Breakout: The average net profit was $69.55. This method won 56% of the time, with winning trades averaging $714.07. Losing trades, which constituted 44% of the total, had an average loss of $747.33. The average holding period was 26 calendar days.
Bull Market with Downward Breakout: The average net loss was $(76.36). This method won 43% of the time, with winning trades averaging $753.56. Losing trades, which constituted 57% of the total, had an average loss of $706.32. The average holding period was 23 calendar days.
Bear Market with Upward Breakout: The average net loss was $(89.13). This method won 46% of the time, with winning trades averaging $710.77. Losing trades, which constituted 54% of the total, had an average loss of $756.97. The average holding period was 16 calendar days.
Bear Market with Downward Breakout: The average net profit was $65.17. This method won 52% of the time, with winning trades averaging $781.62. Losing trades, which constituted 48% of the total, had an average loss of $722.41. The average holding period was 13 calendar days.
RSI ProfitGuard [CHE]The RSI ProfitGuard Indicator is a comprehensive tool designed to assist traders in making informed decisions by integrating the Relative Strength Index (RSI) with automated Take Profit (TP) and Stop Loss (SL) levels. This indicator enhances trading strategies by providing clear entry signals and risk management parameters.
Key Features
RSIBased Signals: Utilizes RSI crossovers and crossunders to generate trade signals.
Automated TP and SL: Automatically calculates and plots Take Profit and Stop Loss levels based on userdefined methods.
Customizable Trade Types: Supports Long trades, Short trades, or both simultaneously.
Flexible Calculation Methods: Choose between Percentagebased or ATRbased methods for determining TP and SL levels.
Visual Enhancements: Highlights overbought and oversold RSI regions with background colors and marks trade entries with arrows.
Alerts: Provides realtime alerts when TP or SL levels are reached, ensuring timely trade management.
How It Works
1. RSI Calculation: The indicator calculates the RSI value based on the specified length.
2. Trade Signals:
Long Entry: Triggered when RSI crosses above the defined crossover threshold.
Short Entry: Triggered when RSI crosses below the defined crossunder threshold.
3. TP/SL Level Determination:
Percentage Method: Sets TP and SL as a percentage above and below the entry price.
ATR Method: Sets TP and SL based on the Average True Range (ATR), allowing for dynamic adjustments based on market volatility.
4. Visualization: Draws lines and labels on the chart to indicate TP, SL, and entry points.
5. Trade Management: Monitors price movements to determine if TP or SL levels are hit, automatically managing the trade state.
Customization Options
Trade Type Selection: Choose to execute Long trades, Short trades, or both.
RSI Settings:
RSI Length: Defines the period for RSI calculation (default is 14).
Crossover Threshold: RSI level above which a Long entry is signaled (default is 65).
Crossunder Threshold: RSI level below which a Short entry is signaled (default is 35).
Delay Settings: Sets the minimum number of bars between consecutive trade signals to avoid overtrading.
TP/SL Settings:
Method Selection: Choose between Percentage or ATRbased calculations.
Percentage Values: Define the percentage for TP and SL levels.
ATR Settings: Define ATR length and multipliers for TP and SL when using the ATR method.
Visual Settings:
Line Colors and Styles: Customize the appearance of TP, SL, crossover, and crossunder lines.
Transparency: Adjust the transparency of lines for better chart visibility.
Label Offset: Position labels at a specified number of bars to the right for clarity.
Using the Indicator
1. Add to Chart: Apply the RSI ProfitGuard Indicator to your TradingView chart.
2. Configure Settings: Adjust the parameters according to your trading strategy and risk tolerance.
3. Interpret Signals:
Long Entries: Look for green upward arrows indicating potential buy opportunities.
Short Entries: Look for red downward arrows indicating potential sell opportunities.
4. Monitor TP and SL Levels: Observe the plotted lines and labels to manage your trades effectively.
5. Set Up Alerts: Enable alerts to receive notifications when TP or SL levels are reached, ensuring you can act promptly.
Benefits
Enhanced DecisionMaking: Combines RSI signals with clear risk management levels.
Time Efficiency: Automates the calculation and plotting of TP and SL, saving time and reducing manual errors.
Flexibility: Adapts to various trading styles and market conditions through customizable settings.
Risk Management: Helps in defining and adhering to risk parameters, essential for longterm trading success.
Conclusion
The RSI ProfitGuard Indicator is an invaluable tool for traders seeking to integrate technical analysis with automated risk management. Its customizable features and realtime alerts provide a robust framework for executing and managing trades with confidence.
Disclaimer
The content provided with our RSI ProfitGuard Indicator, including all code, scripts, lessons, and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell, or an offer of any financial product or service.
Key Points:
Educational Purpose:
All strategies, tools, and examples included within the RSI ProfitGuard Indicator are provided solely for illustrative purposes. They are designed to demonstrate coding techniques and the functionality of Pine Script within a trading context.
No Financial Advice:
The RSI ProfitGuard Indicator does not constitute financial advice. Users should not rely on it as a basis for making investment or trading decisions.
Hypothetical Results:
Any results or performance metrics derived from using the RSI ProfitGuard Indicator are purely hypothetical. Past performance is not indicative of future results, and there is no guarantee of profitability.
Risk Disclosure:
Trading and investing involve significant risks, including the potential loss of principal. The RSI ProfitGuard Indicator is not suitable for all persons, and users should be aware of the inherent risks involved in trading.
Professional Consultation:
Before making any trading decisions, it is strongly recommended to consult with a qualified financial professional to fully understand the risks and ensure that such decisions align with your financial situation and goals.
User Responsibility:
By using the RSI ProfitGuard Indicator, you acknowledge and agree that all trading decisions are made solely at your own discretion and risk. The developers and providers of the RSI ProfitGuard Indicator assume no responsibility or liability for any losses or damages resulting from its use.
Additional Notes:
No Guarantees:
There are no guarantees regarding the accuracy, reliability, or completeness of the RSI ProfitGuard Indicator. Users utilize the tool at their own risk.
No Endorsement:
Any mention of third-party products, services, or strategies within the RSI ProfitGuard Indicator does not constitute an endorsement or recommendation.
Updates and Modifications:
The RSI ProfitGuard Indicator may be updated or modified over time. Users are responsible for staying informed about any changes and understanding how they may impact the use of the tool.
Summary
This disclaimer clearly states that the RSI ProfitGuard Indicator is intended for educational purposes and should not be used as financial advice. It highlights the risks associated with trading, the hypothetical nature of any results, and the importance of consulting with a financial professional. Additionally, it emphasizes that users are solely responsible for their trading decisions and any outcomes that result from using the indicator.
Tips for Implementation:
Visibility:
Ensure that this disclaimer is prominently displayed wherever the RSI ProfitGuard Indicator is offered, such as on your website, within the TradingView description, or in any accompanying documentation.
Clarity:
Use clear and concise language to make sure that all users understand the limitations and responsibilities associated with using the indicator.
Legal Review:
Consider having the disclaimer reviewed by a legal professional to ensure that it meets all necessary legal requirements and adequately protects your interests.
Regular Updates:
Periodically review and update the disclaimer to reflect any changes in the indicator's functionality or in relevant laws and regulations.
Charan_Trading_IndicatorCharan_Trading_Indicator Overview:
The Charan_Trading_Indicator combines several technical analysis tools, including Bollinger Bands, RSI (Relative Strength Index), VWAP (Volume-Weighted Average Price), and ATR (Average True Range), to provide buy and sell signals. The script incorporates multiple strategies, such as crack snap setups, overbought/oversold levels, and trend continuation indicators, all tailored for precise market entry and exit points.
Key Components:
RSI (Relative Strength Index):
The indicator uses RSI to detect overbought (RSI > 70) and oversold (RSI < 30) market conditions.
Alerts are triggered when prices are within the specified buy/sell range and RSI crosses these thresholds.
Bollinger Bands:
Bollinger Bands are calculated based on a configurable moving average and standard deviation.
The script identifies potential buy signals when the price dips below the lower Bollinger Band and recovers, and sell signals when the price exceeds the upper Bollinger Band and retraces.
Crack Snap Strategies:
The indicator incorporates multiple variations of the crack snap strategy:
Buy Signals: Triggered when price opens below the lower Bollinger Band and closes above it, alongside certain conditions in previous candles.
Sell Signals: Triggered when price opens above the upper Bollinger Band and closes below it, with similar candle patterns.
Variations such as 3-candle (3C) and 4-candle (4C) versions refine the crack snap setups for more robust signals.
Isolated Candle Conditions:
The indicator tracks isolated candles, where the entire candle lies above or below the Bollinger Bands, to identify potential reversal points.
Trend Continuation Signals:
Conditions based on the candle range and previous highs/lows allow the indicator to generate signals for trend continuation:
Buy signals when price breaks above the previous two highs.
Sell signals when price breaks below the previous two lows.
VWAP (Volume-Weighted Average Price):
The indicator integrates VWAP to give additional support and resistance levels, ensuring signals align with volume trends.
ATR-Based Stop Loss:
For both buy and sell conditions, the script plots stop-loss levels based on the ATR (Average True Range), giving dynamic risk management levels.
Buy/Sell Ranges:
The user can set minimum and maximum price ranges for buy and sell signals, ensuring that the indicator only generates alerts within desired price ranges.
How It Works:
Buy Signals: The script generates buy signals based on multiple conditions, including the crack snap strategy, oversold RSI levels, and trend continuation setups. When these conditions are met, green triangles appear below the price bars, and an alert is triggered.
Sell Signals: Sell signals are triggered when the opposite conditions are met (overbought RSI, crack snap sell setups, trend breaks), and red triangles appear above the price bars.
Visual Indicators: The script plots upper and lower Bollinger Bands, stop loss levels, and VWAP on the chart, providing a comprehensive view of market conditions and support/resistance levels.
This indicator is versatile, combining multiple technical tools for robust decision-making in trading. It generates alerts, plots visual markers, and integrates risk management, making it a well-rounded tool for technical analysis.
This indicator is versatile, combining multiple technical tools for robust decision-making in trading. It generates alerts, plots visual markers, and integrates risk management, making it a well-rounded tool for technical analysis.
