Super Momentum Trend IndicatorThis is a trend momentum indicator that uses some of Ichimoku Cloud's core trading concepts and Supertrend, so before using this indicator, you can first understand Ichimoku Cloud, which is very helpful for understanding this indicator.
There are mainly the following ways to identify trends in Ichimoku Cloud.
1. The price is above or below the Tenkan-sen and the Kijun-sen
2. The Tenkan-sen crosses the Kijun-sen
3. The price breaks or falls below Leading Span B
4. Leading Span A crosses Leading Span B
I converted the above signal into the following expression (see chart):
1. Green dot: the price is above the Tenkan-sen and Kijun-sen
2. Red dot: the price is below Tenkan-sen and the Kijun-sen
3. Orange or blue dot: the price is between Tenkan-sen and Kijun-sen
4. Triangular symbol: the Tenkan-sen crosses the Kijun-sen, and the price continues to stand firmly above or below Kijun-sen by 2 candles (prevent fake moves)
5.B1 signal: the price breaks or falls below Leading Span B
6. B2 signal: Leading Span A crosses Leading Span B (this expresses whether the color of the cloud is green or red in Ichimoku cloud)
The default for this indicator is Ichimoku Cloud turned off so that the charts are simpler, but you can turn it on if you want to check Ichimoku Cloud.
When you use this indicator, you can observe the changes of the dots:
1. The upward trend reverses to a downward trend (see chart)
What you will see is: green dots, orange dots, red dots, unless the price suddenly falls below the Tenkan-sen and the Kijun-sen, then you will see red dots directly without orange dots .
2. The downward trend reverses to an upward trend (see chart)
What you will see is: red dots, blue dots, green dots, unless the price suddenly breaks through the Tenkan-sen and Kijun-sen, then you will see the green dots directly without the blue dots.
The dot is usually the signal on the left-hand side, the triangle is between the left-hand side and the right-hand side, and B1/B2 is the signal on the right-hand side.
I recommend entry trades separately , and using Supertrend to judge the trend. This is why this indicator also adds two Supertrends.
Why not just use the Super Trend indicator?
Because SuperTrend only provides a pure uptrend or downtrend, it does not show the upcoming reversal.
And with the momentum dots added, when you see orange or blue dots, the trend may be about to reverse.
Therefore, this indicator can better capture the changing process of the trend.
What if the momentum dots are not trending as indicated by the SuperTrend indicator?
If the Super Trend shows a downward trend, but you frequently see green and blue dots, it means that the trend is likely to reverse upwards.
On the contrary, if the Super Trend shows an upward trend, but you frequently see red or orange dots, it means that it is likely to reverse downward.
Please remember that when you want to open a position, the trend direction of SuperTrend should be consistent with the direction of the dots momentum and signals. If they are inconsistent, you need more patience to judge the trend direction.
Which signal is most important?
When using these signals, you must remember that the dot belongs to the left-hand side signal, the triangle belongs to the half left-hand side and half right-hand side signal, and B1/B2 is the right-hand side signal. So I think the B1/B2 signal is the most important because of the meaning of B1 It means that the price has broken through the support or resistance of the cloud layer, and the meaning of B2 in Ichimoku Cloud is that the cloud (kumo) has reversed.
I backtested COINBASE:BTCUSDT for several signals of this indicator, and the B2 signal has a higher win rate.
Why two SuperTrends are used?
Because I found that there are many fake moves in the market, using two SuperTrends with different ATR multipliers can effectively identify fake moves.
Most Important Reminder:
The dot display, triangle signal, and B1/B2 signals have a sequential relationship with the timing of their appearance. During the process of trend change, you will definitely see the change of the dot first, then the triangle, and finally B1/B2, this is why I suggest that you should add positions separately.
If the signals on the chart are not displayed in sequence, it means that the trend has not reversed. Then adding positions separately at the beginning can just reduce your loss.
In addition, it is strongly recommended that you must understand the formula of Ichimoku Cloud, otherwise you may misuse this indicator.
How do I use this indicator?
1. I will build positions in batches when I see the triangle, B1, and B2 signals.
2. When you see Supertrend changing trend, or reverse triangle, you can consider ending position.
3. Triangle/B1/B2 and other signals should be in the same direction as Supertrend before entering the market.
4. When you see the green dot, you don’t need to rush to get into the market, you can wait for a triangle signal, because the triangle means that the conversion line (Tenkan-sen) crosses the base line (Kijun-sen), and the price stands firm on the base line (Kijun-sen) two candles above or below
5. If you are not sure why there is a triangle/B1/B2 signal in a certain place, you can open Ichimoku Cloud in settings to confirm for yourself.
========== 中文說明 (Chinese Explanation) ==========
這是一隻趨勢動量指標，使用了部分 Ichimoku Cloud 的核心交易理念與Supertrend，所以在使用這支指標之前，您可以先搞懂 Ichimoku Cloud，對於理解這隻指標很有幫助。
在 Ichimoku Cloud 中主要有以下幾種方式來確定趨勢。
1.價格在轉換線（Tenkan-sen）與 基準線（Kijun-sen）上方或下方
2.轉換線（Tenkan-sen）與 基準線（Kijun-sen）交叉
3.價格突破或跌破 Leading Span B
4. Leading Span A 與 Leading Span B 交叉
我將上述訊號轉換成以下表達方式（看圖）：
1.綠點：價格在轉換線（Tenkan-sen）與 基準線（Kijun-sen）之上
2.紅點：價格在轉換線（Tenkan-sen）與 基準線（Kijun-sen）之下
3.橘點或藍點：價格在轉換線（Tenkan-sen）與 基準線（Kijun-sen）之間
4.三角形符號：轉換線（Tenkan-sen）與 基準線（Kijun-sen）交叉，並且價格持續站穩 Kijun-sen 兩根K線（防止假突破）
5.B1 訊號：價格突破或跌破 Leading Span B
6.B2 訊號：Leading Span A 與 Leading Span B 交叉（這表達為雲的顏色是綠色還是紅色）
這隻指標的預設 Ichimoku Cloud 是關閉的，這樣圖表會更簡單，但如果你想檢查 Ichimoku Cloud ，可以隨時打開。
在你使用這支指標時，可以觀察圓點的變化：
1、向上趨勢反轉成向下趨勢(看圖)
你會看到的點順序是：綠點、橘點、紅點，除非價格突然跌破轉換線（Tenkan-sen）與 基準線（Kijun-sen），這時會直接看到紅點而沒有橘點。
2、向下趨勢反轉成向上趨勢（看圖）
你會看到的點順序是：紅點、藍點、綠點，除非價格突然突破轉換線（Tenkan-sen）與 基準線（Kijun-sen），這時會直接看到綠點而沒有藍點。
圓點通常是左側訊號，三角形介於左側與右側之間，而B1/B2則是右側訊號，我建議將倉位根據訊號顯示的前後順序分批下單，並且搭配 Supertrend來判斷趨勢，這也是為什麼這隻指標還加上了兩條 Supertrend 的原因。
為什麼不單純使用 Super Trend 指標？
因為 SuperTrend 只提供了單純的向上趨勢或向下趨勢，而不會顯示即將到來的反轉。
而加上動量圓點之後，當你看見橘點或藍點時，代表趨勢可能即將反轉。
因此這隻指標更能捕捉到趨勢的變化過程。
如果動量圓點跟 SuperTrend 指標顯示的趨勢不一樣怎麼辦？
如果 Super Trend 顯示向下趨勢，而你卻頻繁看到綠點跟藍點，代表趨勢很可能會向上反轉。
相反的，如果 Super Trend 顯示向上趨勢，而你卻頻繁看到紅點或橘點，代表很可能要向下反轉。
請記得，當你要建立倉位時，SuperTrend 的趨勢方向應該跟原點動量的方向是一致的，如果這兩個方向不一致，你需要更多的耐心來判別趨勢方向。
哪個訊號最重要？
使用這些訊號時必須記得，圓點屬於左側訊號，三角形屬於半左側半右側訊號，而B1/B2則是右側訊號，真的要我說的話，我認為B1/B2訊號最重要，因為B1的意義代表價格突破了雲層支撐或阻力，而B2在 Ichimoku Cloud 裡面的意義是雲朵（kumo）發生了反轉。
我針對這隻指標的幾個訊號對COINBASE:BTCUSDT進行了回測，B2訊號有較高的勝率。
為什麼使用了兩條 SuperTrend ?
因為我發現在市場經常會產生假突破，使用兩條 SuperTrend 並設置不同的 ATR 乘數，可以有效識別假突破。
最重要的提醒：
圓點的顯示、三角形訊號、B1/B2 這幾種訊號，它們出現的時間點是有順序關係的，趨勢轉變的過程，你一定會先看見圓點的變化，然後是出現三角形，最後出現B1/B2，這也是為什麼我建議你應該分批下單，如果圖表上的訊號沒有按照順序先後顯示，表示趨勢並沒有反轉，那麼一開始的分批下單，剛好可以降低你的虧損。
另外強烈建議，務必搞懂 Ichimoku Cloud 的公式，否則你可能會誤用這個指標。
我是如何使用這隻指標？
1.我會在看見三角形、B1、B2訊號時，分批建倉。
2.當你看到Supertrend改變趨勢，或是反向三角形時，可以考慮賣出。
3.三角形/B1/B2等訊號應該跟Supertrend是同一個方向時才可以進場。
4.當你看見綠點時，可以不用著急做多，可以再等一個三角形的訊號，因為三角形表示轉換線（Tenkan-sen）與 基準線（Kijun-sen）交叉，並且價格站穩在基準線（Kijun-sen）之上或之下兩天
5.如果你不確定某個地方為什麼會有三角形/B1/B2訊號，可以打在設定中打開Ichimoku Cloud自行確認。
Cari dalam skrip untuk "supertrend"
EasyTrade - Trend CloudsHello Traders!
Starting from an idea of youtube channel "Daily Investments", we have developed this interesting indicator and prepared to be used with the EasyTrade software.
The idea behind this indicator is a combination of 3 SuperTrend suitably configured to overcome the classic problem of SuperTrends, false positives.
In addition to SuperTrends, we have added the ability to "filter trends" using a freely configurable moving average.
Good results are obtained with 15-minute timeframe (see video on credits).
Settings
Reaction : This value is used to adjust the classic "ATR Length" proportionally between the 3 SuperTrends.
Sensibility : This value is used to adjust the classic "Factor" proportionally between the 3 SuperTrends.
Use MA filter and Value : This options Enable/Disable the MA filter. You can change the period of the MA
R/R ratio : You can set your Risk/Reward ratio according to your trading rules.
Show Clouds : Show or hide the indicator cloud
Show Signals : Show or hide the dots on the bottom of the graphs that represents the BUY (Green Point), SELL (Red Point) signals.
Show Clouds : Show or hide Take profits (Purple line) and Stop Loss (Orange Line) value
Alerts
The alert signal generated by the indicator can be directly used by the EasyTrade software to directly execute trades on your preferred Broker.
Conclusion
We hope it will be useful, as it is for us, to simplify and automate your trading, but remember; always do your back-tests with your trading rules.
Suggestions or improvements are always welcome, if they make sense.
Credits
Daily Investments Video
EasyTrade Free Indicators and Software
Tri-State SupertrendTri-State Supertrend: Buy, Sell, Range
( Credits: Based on "Pivot Point Supertrend" by LonesomeTheBlue.)
Tri-State Supertrend incorporates a range filter into a supertrend algorithm.
So in addition to the Buy and Sell states, we now also have a Range state.
This avoids the typical "whipsaw" problem: During a range, a standard supertrend algorithm will fire Buy and Sell signals in rapid succession. These signals are all false signals as they lead to losing positions when acted on.
In this case, a tri-state supertrend will go into Range mode and stay in this mode until price exits the range and a new trend begins.
I used Pivot Point Supertrend by LonesomeTheBlue as a starting point for this script because I believe LonesomeTheBlue's version is superior to the classic Supertrend algorithm.
This indicator has two additional parameters over Pivot Point Supertrend:
A flag to turn the range filter on or off
A range size threshold in percent
With that last parameter, you can define what a range is. The best value will depend on the asset you are trading.
Also, there are two new display options.
"Show (non-) trendline for ranges" - determines whether to draw the "trendline" inside of a range. Seeing as there is no trend in a range, this is usually just visual noise.
"Show suppressed signals" - allows you to see the Buy/Sell signals that were skipped by the range filter.
How to use Tri-State Supertrend in a strategy
You can use the Buy and Sell signals to enter positions as you would with a normal supertrend. Adding stop loss, trailing stop etc. is of course encouraged and very helpful. But what to do when the Range signal appears?
I currently run a strategy on LDO based on Tri-State Supertrend which appears to be profitable. (It will quite likely be open sourced at some point, but it is not released yet.)
In that strategy, I experimented with different actions being taken when the Range state is entered:
Continue: Just keep last position open during the range
Close: Close the last position when entering range
Reversal: During the range, execute the OPPOSITE of each signal (sell on "buy", buy on "sell")
In the backtest, it transpired that "Continue" was the most profitable option for this strategy.
How ranges are detected
The mechanism is pretty simple: During each Buy or Sell trend, we record price movement, specifically, the furthest move in the trend direction that was encountered (expressed as a percentage).
When a new signal is issued, the algorithm checks whether this value (for the last trend) is below the range size set by the user. If yes, we enter Range mode.
The same logic is used to exit Range mode. This check is performed on every bar in a range, so we can enter a buy or sell as early as possible.
I found that this simple logic works astonishingly well in practice.
Pros/cons of the range filter
A range filter is an incredibly useful addition to a supertrend and will most likely boost your profits.
You will see at most one false signal at the beginning of each range (because it takes a bit of time to detect the range); after that, no more false signals will appear over the range's entire duration. So this is a huge advantage.
There is essentially only one small price you have to pay:
When a range ends, the first Buy/Sell signal you get will be delayed over the regular supertrend's signal. This is, again, because the algorithm needs some time to detect that the range has ended. If you select a range size of, say, 1%, you will essentially lose 1% of profit in each range because of this delay.
In practice, it is very likely that the benefits of a range filter outweigh its cost. Ranges can last quite some time, equating to many false signals that the range filter will completely eliminate (all except for the first one, as explained above).
You have to do your own tests though :)
Bollinger Bands & SuperTrend Strategy by Tradinggg HubThis TradingView Pinescript combines Bollinger Bands and a custom SuperTrend indicator to generate trading signals.
Bollinger Bands:
Bollinger Bands are a popular volatility indicator that consists of three lines:
* Basis: A simple moving average (SMA) of the price (default length is 20 periods).
* Upper Band: The basis plus a standard deviation multiplier (default is 2).
* Lower Band: The basis minus a standard deviation multiplier (default is 2).
These bands expand and contract as volatility increases or decreases, helping traders identify potential overbought and oversold conditions.
SuperTrend:
The SuperTrend indicator is a trend-following tool that aims to identify the direction of the price trend. It uses the Average True Range (ATR) to determine the volatility of the market and sets levels above and below the price to indicate potential trend reversals.
How the Strategy Works:
1. Bollinger Bands: The script plots Bollinger Bands around the price, providing insight into the current volatility and potential overbought or oversold conditions.
2. SuperTrend: The script calculates and plots a custom SuperTrend indicator based on user-defined ATR period and factor. It helps visualize the current trend direction and potential trend reversals.
3. Buy Signals: A buy signal is generated when the following conditions are met:
- The price crosses above the SuperTrend line.
- The price is above the Bollinger Bands basis line.
4. Sell Signals: A sell signal is generated when one of the following conditions is met:
- The price crosses below the SuperTrend line.
- The price is below the Bollinger Bands basis line.
Key Parameters:
* Bollinger Bands Length: The number of periods used to calculate the basis (SMA) of the Bollinger Bands.
* Bollinger Bands Multiplier: The factor used to calculate the standard deviation for the upper and lower bands.
* SuperTrend ATR Period: The number of periods used to calculate the Average True Range (ATR) for the SuperTrend.
* SuperTrend Factor: The factor used to determine the distance of the SuperTrend levels from the price.
Customization:
Feel free to experiment with different parameter values to optimize the strategy for your preferred asset and time frame.
Disclaimer:
This script is intended for educational and informational purposes only. It should not be considered as financial advice. Always conduct thorough research and consider your own risk tolerance before making any trading decisions.
Papercuts Super Trend MTF v02All my scripts are part of a suite called Papercuts .
This one uses one current timeframe supertrend and adds Four Automatic Higher Timeframe Supertrends based on those same parameters to help you determine larger trends while only needing a single chart. This works quite well on 5 and 15 minute charts and will look up in time. Confident trends can be identified by having two or more lines in the same direction.
When unified, the intensity of the glow should increase a trends confidence. Unify collapses the 3 highest timeframe supertrends into the first higher timeframe supertrend. Without Unify on, the overall trends are usually easier to see at just a glance. Higher timeframe supertrends can show support or resistance and act as stop loss limit ranges if you choose. Unify keeps things a bit cleaner and more compact.
V02 updated to fsecurity for no repainting and added a 3MA trend option as well.
Thanks to @Pinecoders for helping me better understand the security function!
Here is a view with Unify on....
Here is a view with Unify off...
RSI adjusted SuperTrendThis script is a variation on the SuperTrend.
The original function is from Tradingview, the difference is that I added a calculation with RSI
First 50 is subtracted from the RSI.
The absolute value of this number is on its turn divided with 100 or 50 (settings: 'Divide RSI value by')
-> this gives the 'aRSI', which is similar to a percentage
Finally a last calculation is made:
- lower * 'aRSI' is subtracted from the lower band
- upper * 'aRSI' is added to the upper band
If you want to see the Regular ST -> Toggle 'Show Regular ST'
Settings:
- factor (for both SuperTrends)
- ATR length (for SuperTrends)
- RSI length (for 'RSI adjusted SuperTrend')
Cheers!
{INDYAN} GO WITH TREND V2This indicator has almost everything for intraday trading . There are two supertrends one with higher time frame and one at lower time frame, Due to which we can recognize reversal. If higher time frame supertrend is showing uptrend and minor is showing downtrend then better to avoid taking any trade in between. Both trend should be in same direction.
Tenkan and kijun is there to verify the trend authencity, check where the tenkan and kijun crossover is there or not at the time of reversal signal given by supertrends. It will boost trading chances.
Also VWAP is placed to know the current situation, If price is below VWAP go for sort if all other things match as above said.
HEMA LEMA is a EMA band and i found that it act as support and resistance, If price breaks channel with volume and sustain above/below for 2 candle close (TIMEFRAME AS SYMBOL).
Also placed FAST EMA to recognize the fast moving trend.
Pivot with CPR is there to trade on basis of CPR and Pivot.
For demand and supply traders, they can use blue and black candle for marking up zones. Blue is boring/base candle and Black is explosive candle.
I hope it will help my trader friends to recognize the trend and reversal.
Let me know if anything more we need to include or remove to make it better for everyone.
Happy Trading... Love INDYAN
#intraday
#hema-lema
#pivot
#cpr
#supertrend_reversal
#demandzone
#supplyzone
#tenkansen
#kijunsen
Multi-Chart Widget [LuxAlgo]The Multi-Chart Widget tool is a comprehensive solution crafted for traders and investors looking to analyze multiple financial instruments simultaneously. With the capability to showcase up to three additional charts, users can customize each chart by selecting different financial instruments, and timeframes.
Users can add various widely used technical indicators to the charts such as the relative strength index, Supertrend, moving averages, Bollinger Bands...etc.
🔶 USAGE
The tool offers traders and investors a comprehensive view of multiple charts simultaneously. By displaying up to three additional charts alongside the primary chart, users can analyze assets across different timeframes, compare their performance, and make informed decisions.
Users have the flexibility to choose from various customizable chart types, including the recently added "Volume Candles" option.
This tool allows adding to the chart some of the most widely used technical indicators, such as the Supertrend, Bollinger Bands, and various moving averages.
In addition to the charting capabilities, the tool also features a dynamic statistic panel that provides essential metrics and key insights into the selected assets. Users can track performance indicators such as relative strength, trend, and volatility, enabling them to identify trends, patterns, and trading opportunities efficiently.
🔶 DETAILS
A brief overview of the indicators featured in the statistic panel is given in the sub-section below:
🔹Dual Supertrend
The Dual Supertrend is a modified version of the Supertrend indicator, which is based on the concept of trend following. It generates buy or sell signals by analyzing the asset's price movement. The Dual Supertrend incorporates two Supertrend indicators with different parameters to provide potentially more accurate signals. It helps traders identify trend reversals and establish trend direction in a more responsive manner compared to a single Supertrend.
🔹Relative Strength Index
The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between 0 and 100 and is typically used to identify overbought or oversold conditions in a market. Traditionally, RSI values above 70 are considered overbought, suggesting that the asset may be due for a reversal or correction, while RSI values below 30 are considered oversold, indicating potential buying opportunities.
🔹Volatility
Volatility in trading refers to the degree of variation or fluctuation in the price of a financial instrument, such as a stock, currency pair, or commodity, over a certain period of time. It is a measure of the speed and magnitude of price changes and reflects the level of uncertainty or risk in the market. High volatility implies that prices are experiencing rapid and significant movements, while low volatility suggests that prices are relatively stable and are not changing much. Traders often use volatility as an indicator to assess the potential risk and return of an investment and to make informed decisions about when to enter or exit trades.
🔹R-Squared (R²)
R-squared, also known as the coefficient of determination, is a statistical measure that indicates the proportion of the variance in the dependent variable that is predictable from the independent variable(s). In other words, it quantifies the goodness of fit of a regression model to the observed data. R-squared values range from %0 to %100, with higher values indicating a better fit of the model to the data. An R-squared of 100% means that all movements of a security are completely explained by movements in the index, while an R-squared value of %0 indicates that the model does not explain any of the variability in the dependent variable.
In simpler terms, in investing, a high R-squared, from 85% to 100%, indicates that the stock’s or fund’s performance moves relatively in line with the index. Conversely, a low R-squared (around 70% or less) indicates that the fund's performance tends to deviate significantly from the movements of the index.
🔶 SETTINGS
🔹Mini Chart(s) Generic Settings
Mini Charts Separator: This option toggles the visibility of the separator lines.
Number Of Bars: Specifies the number of bars to be displayed for each mini chart.
Horizontal Offset: Determines the distance at which the mini charts will be displayed from the primary chart.
🔹Mini Chart Settings: Top - Middle - Bottom
Mini Chart Top/Middle/Bottom: Toggle the visibility of the selected mini chart.
Symbol: Choose the financial instrument to be displayed in the mini chart. If left as an empty string, it will default to the current chart instrument.
Timeframe: This option determines the timeframe used for calculating the mini charts. If a timeframe lower than the chart's timeframe is selected, the calculations will be based on the chart's timeframe.
Chart Type: Selection from various chart types for the mini charts, including candles, volume candles, line, area, columns, high-low, and Heikin Ashi.
Chart Size: Determines the size of the mini chart.
Technical Indicator: Selection from various technical indicators to be displayed on top of the mini charts.
Note : Chart sizing is relative to other mini charts. For example, If all the mini charts are sized to x5 relative to each other, the result will be the same as if they were all sized as x1. This is because the relative proportions between the mini charts remain consistent regardless of their absolute sizes. Therefore, their positions and sizes relative to each other remain unchanged, resulting in the same visual representation despite the differences in absolute scale.
🔹Supertrend Settings
ATR Length: is the lookback length for the ATR calculation.
Factor: is what the ATR is multiplied by to offset the bands from price.
Color: color customization option.
🔹Moving Average Settings
Type: is the type of the moving average, available types of moving averages include SMA (Simple Moving Average), EMA (Exponential Moving Average), RMA (Root Mean Square Moving Average), HMA (Hull Moving Average), WMA (Weighted Moving Average), and VWMA (Volume Weighted Moving Average).
Source: Determines what data from each bar will be used in calculations.
Length: The time period to be used in calculating the Moving Average.
Color: Color customization option.
🔹Bollinger Bands Settings
Basis Type: Determines the type of Moving Average that is applied to the basis plot line.
Source: Determines what data from each bar will be used in calculations.
Length: The time period to be used in calculating the Moving Average which creates the base for the Upper and Lower Bands.
StdDev: The number of Standard Deviations away from the Moving Average that the Upper and Lower Bands should be.
Color: Color customization options for basis, upper and lower bands.
🔹Mini Chart(s) Panel Settings
Mini Chart(s) Panel: Controls the visibility of the panel containing the mini charts.
Dual Supertrend: Toggles the display of the evaluated dual super trend, based on the super trend settings provided below the option. The definitions for the options are the same as stated above for the super trend.
Relative Strength Index: Toggles the display of the evaluated RSI, based on the source and length settings provided below the option.
Volatility: Toggles the display of the calculated Volatility, based on the length settings provided below the option.
R-Squared: Toggles the display of the calculated R-Squared (R²), based on the length settings provided below the option.
🔶 LIMITATIONS
The tool allows users to display mini charts featuring various types of instruments alongside the primary chart instrument. However, there's a limitation: the selected primary chart instrument must have an ACTIVE market status. Alternatively, if the primary chart instrument is not active, the mini chart instruments must belong to the same exchange and have the same type as the primary chart instrument.
The Ultimate Buy and Sell Indicator: Unholy Grail Edition"You see, Watson, the market is not random—it simply whispers in a code too complex for the average trader. Lucky for you, I am not average."
They searched for the Holy Grail of trading for decades—promises, false prophets, and overpriced PDFs.
But they were all looking in the wrong place.
This isn’t a relic buried in the desert.
This is the Unholy Grail — a machine-forged fusion of logic, engineering, and tactical overkill .
Built by Sherlock Macgyver , this is not a mystical object. It’s a surveillance system for trend detection, signal validation, and precision entries .
⚠️ Important: This script draws its own candles.
To see it properly, disable regular candles by turning off "Body", "Wick" and "Border" colors.
🔧 What You’re Looking At
This overlay plots confirmed Buy/Sell signals , momentum-based “watch” zones , adaptive candle coloring , SuperTrend bias detection , dual Bollinger Bands , and a moving average ribbon .
It’s not “minimalist” —it’s comprehensive .
📍 Configuring the Tool: Follow the Breadcrumbs
Every setting includes a tooltip — read them . They're not filler. They explain exactly how each feature functions so you can dial this thing in like you're tuning a surveillance rig in a Cold War bunker .
If you skip them, you're walking blind in a minefield .
🕰️ Timeframes: The Signal Sweet Spot
Each asset has a tempo . You need to find the one where signals align with clarity —not chaos .
Start with 4H or 1H —work up or down from there.
Too many fakeouts? → Higher timeframe
Too slow? → Drop to 15m or 5m —but expect more noise and adjust settings accordingly.
The signals scale with time, but you must find the rhythm that best fits your asset—and your trading lifestyle .
♻️ RSI Cycle = Signal Sensitivity
This is the heart of the system . It controls how reactive the RSI engine is.
Adjust based on noise level and how often you can actually monitor your charts.
Short cycle (14–24): More signals, more speed, more noise
Longer cycle (36–64): Smoother entries, better for swing traders
Tip: If your signals feel too jittery, increase the cycle. If they lag too much, reduce it.
📉 SuperTrend: Your Trend Bias Compass
This isn’t your average SuperTrend. It adapts with RSI overlay logic and detects market “silence” via EMA compression— turning white right before the chaos . That said, you still control its aggression.
ATR Length = how many bars to average
ATR Factor = how tight or loose it hugs price
Lower = more sensitive (more trades, more noise)
Higher = confirmation only (fewer, but stronger signals)
Tweak until it feels like a sniper rifle.
No, you won’t get it perfect on the first try.
Yes, it’s worth it.
🛠️ Modular Signals: Why Things Fire (or Don’t)
Buy/Sell entries require conditions to align. The logic is modular, and that’s on purpose.
RSI signals only fire if RSI crosses its smoothed MA outside the dead zone and a “Watch” condition is active.
SuperTrend signals can be enabled to act on crossovers, optionally ignoring the Watch filter .
Watch conditions (colored squares) act as early recon and hint at possible upcoming trades.
Background color changes are “pre-signal warnings” and will repaint . Use them as leading signals, not gospel.
Want more trades? Loosen your filters .
Want sniper entries? Lock them down .
🌈 Candles and MAs: Visual Market Structure
Candles adapt in real-time to MA structure:
Green = bullish (above both fast/slow MAs)
Yellow = indecision (between)
Red = bearish (below both)
Buy/Sell signals override candles with bright orange and fuchsia —because subtlety doesn’t win wars .
You can also enable up to 8 customizable moving averages —great for confluence , trend confirmation , or just looking like a wizard .
🧠 Pro Usage Tips (TL;DR for Smart People):
Use tooltips in the settings menu —every toggle and slider is explained
Test timeframes until signal frequency and reliability match your goals
Adjust RSI cycle to reduce noise or speed up signals based on how frequently you trade
Tweak SuperTrend factor and ATR to fit volatility on your asset
Start with visual confirmation :
• Are watch signals lining up with trend zones?
• Are backgrounds firing before price moves?
• Are candle colors agreeing with signal direction?
📣 Alerts & Integration
Alerts are available for:
Buy/Sell entries (confirmed or advanced background)
Watch signals
Full band agreement (both Bollinger bands bullish or bearish)
Use these with webhook systems , bots , or your own trade journals .
Created by Sherlock Macgyver
Because sometimes the best trade…
is knowing exactly when not to take one.
Reversal PointsHi , in this script i tried to find reversal points on big trends. For this purpose i have used Supertrend and Donchian channels. I combined both in a single indicator for finding reversal points. I am suggesting for using higher time frames like 4 hours or 1 day. It will be work in lower time frames too. But the signals will be less reliable than higher timeframes. Here is settings in this script:
New low sensitiity : this setting for donchian channels lookback. Bigger value result as less signals.
Atr Period: Period for Atr , it is for supertrend indicator in it.
Source: Source for supertrend indicator.
Atr Multiplier : Atr multiplier setting for Supertrend. Bigger value will be result as less signals.
Good luck.
Enes.
EMA + Supertrend with BUY a SELL signals by @zeusbottradingwe are presenting you new indicator with opensource script,
this indicator uses 3x EMAs and 2 supertrends. Supertrends generate SELL or BUY labels when they are both red or green, meaning uptrend or downtrend. Main idea behind this indicator is filtering supertrend labels by 3 EMAs (filter>All EMAs Aligned) or just 1 EMA 200 Only. EMA (Esxponential Moving Average) measures trend direction over a period of time . EMA should follow price section more closely than others moving averages. In the script is defaulty set EMA1 to calculet on 21 previouse candles which is good for calculating fast moving trends. EMA2 is defaulty set on 50 previouse candles which is use for medium moving trends. End lastly EMA3 is defaulty set on 200 candles to calculate long period moving trend.
You can setup sources of all EMAs and Supertrend values including ATR period and multiplier.
We also included Bearish and Bullish Engulfing candles for more precise entries. Bearish and Bullish Engulfing candels are marked by little triangle. Bearish candles means red candles, Bullish candles means green candles. Engulfing candles should be bigger than previouse candle. Engulfing candles used to indicate a market reversal
Buy signal is shown when close is between ATRs and close price of the candle is bigger than EMA3 when its used in Filter section 200 EMA Only . If in Filter section is choosed ALL EMAs Aligned Buy signal is shown when close is between ATRs and close price of the candle is bigger than EMA1 , EMA1 is bigger than EMA2 and EMA2 is bigger than EMA3 .
Sell signal is shown when close is between ATRs and close price of the candle is lower than EMA3 when its used in Filter section 200 EMA Only . If in Filter section is choosedALL EMAs Aligned Sell signal is shown when close is between ATRs and close price of the candle is lower than EMA1, EMA1 is lower than EMA2 and EMA2 is lower than EMA3 .
ATR (Average True Range) it is trading system that measures market volatility by decomposing the entire range of an asset price for choosen period.
You can use this indicator on any timeframe and any instrument.
Made with ❤️ for this community.
If you have any questions or suggestions, let us know.
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold zeusbottrading TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script.
Digital Nivesh: Trend TrackerThis indicator is nothing but combination of Magic Trend and Super trend written by KivancOzbilgic
So credit goes to him.
I have just added some extra functionality which are below:
1. Multi time frame, magic trends time frame can be different from supertrend by changing shortTimeFrame
2. Dynamic time frame, u can change supertrends time also
Best usage is to use Magic Trend on 1 lower time frame than supertrend.
eg. Suppose ur current chart is on 5 min time, ur supertrend will be displayed with current time on chart(which can be changed also using MTF Tradingview feature), u need to keep shorterTimeFrame on lower value such as 3min .
For any question , feel free to drop comment.
Wick Trend Analysis with Supertrend and RSI -AYNETScientific Explanation
1. Wick Trend Analysis
Upper and Lower Wicks:
Calculated based on the difference between the high or low price and the candlestick body (open and close).
The trend of these wick lengths is derived using the Simple Moving Average (SMA) over the defined trend_length period.
Trend Direction:
Positive change (ta.change > 0) indicates an increasing trend.
Negative change (ta.change < 0) indicates a decreasing trend.
2. Supertrend Indicator
ATR Bands:
The Supertrend uses the Average True Range (ATR) to calculate dynamic upper and lower bands:
upper_band
=
hl2
+
(
supertrend_atr_multiplier
×
ATR
)
upper_band=hl2+(supertrend_atr_multiplier×ATR)
lower_band
=
hl2
−
(
supertrend_atr_multiplier
×
ATR
)
lower_band=hl2−(supertrend_atr_multiplier×ATR)
Trend Detection:
If the price is above the upper band, the Supertrend moves to the lower band.
If the price is below the lower band, the Supertrend moves to the upper band.
The Supertrend helps identify the prevailing market trend.
3. RSI (Relative Strength Index)
The RSI measures the momentum of price changes and ranges between 0 and 100:
Overbought Zone (Above 70): Indicates that the price may be overextended and due for a pullback.
Oversold Zone (Below 30): Indicates that the price may be undervalued and due for a reversal.
Visualization Features
Wick Trend Lines:
Upper wick trend (green) and lower wick trend (red) show the relative strength of price rejection on both sides.
Wick Trend Area:
The area between the upper and lower wick trends is filled dynamically:
Green: Upper wick trend is stronger.
Red: Lower wick trend is stronger.
Supertrend Line:
Displays the Supertrend as a blue line to highlight the market's directional bias.
RSI:
Plots the RSI line, with horizontal dotted lines marking the overbought (70) and oversold (30) levels.
Applications
Trend Confirmation:
Use the Supertrend and wick trends together to confirm the market's directional bias.
For example, a rising lower wick trend with a bullish Supertrend suggests strong bullish sentiment.
Momentum Analysis:
Combine the RSI with wick trends to assess the strength of price movements.
For example, if the RSI is oversold and the lower wick trend is increasing, it may signal a potential reversal.
Signal Generation:
Generate entry signals when all three indicators align:
Bullish Signal:
Lower wick trend increasing.
Supertrend bullish.
RSI rising from oversold.
Bearish Signal:
Upper wick trend increasing.
Supertrend bearish.
RSI falling from overbought.
Future Improvements
Alert System:
Add alerts for alignment of Supertrend, RSI, and wick trends:
pinescript
Kodu kopyala
alertcondition(upper_trend_direction == 1 and supertrend < close and rsi > 50, title="Bullish Signal", message="Bullish alignment detected.")
alertcondition(lower_trend_direction == 1 and supertrend > close and rsi < 50, title="Bearish Signal", message="Bearish alignment detected.")
Custom Thresholds:
Add thresholds for wick lengths and RSI levels to filter weak signals.
Multiple Timeframes:
Incorporate multi-timeframe analysis for more robust signal generation.
Conclusion
This script combines wick trends, Supertrend, and RSI to create a comprehensive framework for analyzing market sentiment and detecting potential trading opportunities. By visualizing trends, market bias, and momentum, traders can make more informed decisions and reduce reliance on single-indicator strategies.
N Bar Reversal Detector [LuxAlgo]The N Bar Reversal Detector is designed to detect and highlight N-bar reversal patterns in user charts, where N represents the length of the candle sequence used to detect the patterns. The script incorporates various trend indicators to filter out detected signals and offers a range of customizable settings to fit different trading strategies.
🔶 USAGE
The N-bar reversal pattern extends the popular 3-bar reversal pattern. While the 3-bar reversal pattern involves identifying a sequence of three bars signaling a potential trend reversal, the N-bar reversal pattern builds on this concept by incorporating additional bars based on user settings. This provides a more comprehensive indication of potential trend reversals. The script automates the identification of these patterns and generates clear, visually distinct signals to highlight potential trend changes.
When a reversal chart pattern is confirmed and aligns with the price action, the pattern's boundaries are extended to create levels. The upper boundary serves as resistance, while the lower boundary acts as support.
The script allows users to filter patterns based on the trend direction identified by various trend indicators. Users can choose to view patterns that align with the detected trend or those that are contrary to it.
🔶 DETAILS
🔹 The N-bar Reversal Pattern
The N-bar reversal pattern is a technical analysis tool designed to signal potential trend reversals in the market. It consists of N consecutive bars, with the first N-1 bars used to identify the prevailing trend and the Nth bar confirming the reversal. Here’s a detailed look at the pattern:
Bullish Reversal : In a bullish reversal setup, the first bar is the highest among the first N-1 bars, indicating a prevailing downtrend. Most of the remaining bars in this sequence should be bearish (closing lower than where they opened), reinforcing the existing downward momentum. The Nth (most recent) bar confirms a bullish reversal if its high price is higher than the high of the first bar in the sequence (standard pattern). For a stronger signal, the closing price of the Nth bar should also be higher than the high of the first bar.
Bearish Reversal : In a bearish reversal setup, the first bar is the lowest among the first N-1 bars, indicating a prevailing uptrend. Most of the remaining bars in this sequence should be bullish (closing higher than where they opened), reinforcing the existing upward momentum. The Nth bar confirms a bearish reversal if its low price is lower than the low of the first bar in the sequence (standard pattern). For a stronger signal, the closing price of the Nth bar should also be lower than the low of the first bar.
🔹 Min Percentage of Required Candles
This parameter specifies the minimum percentage of candles that must be bullish (for a bearish reversal) or bearish (for a bullish reversal) among the first N-1 candles in a pattern. For higher values of N, it becomes more challenging for all of the first N-1 candles to be consistently bullish or bearish. By setting a percentage value, P, users can adjust the requirement so that only a minimum of P percent of the first N-1 candles need to meet the bullish or bearish condition. This allows for greater flexibility in pattern recognition, accommodating variations in market conditions.
🔶 SETTINGS
Pattern Type: Users can choose the type of the N-bar reversal patterns to detect: Normal, Enhanced, or All. "Normal" detects patterns that do not necessarily surpass the high/low of the first bar. "Enhanced" detects patterns where the last bar surpasses the high/low of the first bar. "All" detects both Normal and Enhanced patterns.
Reversal Pattern Sequence Length: Specifies the number of candles (N) in the sequence used to identify a reversal pattern.
Min Percentage of Required Candles: Sets the minimum percentage of the first N-1 candles that must be bullish (for a bearish reversal) or bearish (for a bullish reversal) to qualify as a valid reversal pattern.
Derived Support and Resistance: Toggles the visibility of the support and resistance levels/zones.
🔹 Trend Filtering
Filtering: Allows users to filter patterns based on the trend indicators: Moving Average Cloud, Supertrend, and Donchian Channels. The "Aligned" option only detects patterns that align with the trend and conversely, the "Opposite" option detects patterns that go against the trend.
🔹 Trend Indicator Settings
Moving Average Cloud: Allows traders to choose the type of moving averages (SMA, EMA, HMA, etc.) and set the lengths for fast and slow moving averages.
Supertrend: Options to set the ATR length and factor for Supertrend.
Donchian Channels: Option to set the length for the channel calculation.
🔶 RELATED SCRIPTS
Reversal-Candlestick-Structure.
Reversal-Signals.
SuperBollingerTrend (Expo)█ Overview
The SuperBollingerTrend indicator is a combination of two popular technical analysis tools, Bollinger Bands, and SuperTrend. By fusing these two indicators, SuperBollingerTrend aims to provide traders with a more comprehensive view of the market, accounting for both volatility and trend direction. By combining trend identification with volatility analysis, the SuperBollingerTrend indicator provides traders with valuable insights into potential trend changes. It recognizes that high volatility levels often accompany stronger price momentum, which can result in the formation of new trends or the continuation of existing ones.
█ How Volatility Impacts Trends
Volatility can impact trends by expanding or contracting them, triggering trend reversals, leading to breakouts, and influencing risk management decisions. Traders need to analyze and monitor volatility levels in conjunction with trend analysis to gain a comprehensive understanding of market dynamics.
█ How to use
Trend Reversals: High volatility can result in more dramatic price fluctuations, which may lead to sharp trend reversals. For example, a sudden increase in volatility can cause a bullish trend to transition into a bearish one, or vice versa, as traders react to significant price swings.
Volatility Breakouts: Volatility can trigger breakouts in trends. Breakouts occur when the price breaks through a significant support or resistance level, indicating a potential shift in the trend. Higher volatility levels can increase the likelihood of breakouts, as they indicate stronger market momentum and increased buying or selling pressure. This indicator triggers when the volatility increases, and if the price is near a key level when the indicator alerts, it might trigger a great trend.
█ Features
Peak Signal Move
The indicator calculates the peak price move for each ZigZag and displays it under each signal. This highlights how much the market moved between the signals.
Average ZigZag Move
All price moves between two signals are stored, and the average or the median is calculated and displayed in a table. This gives traders a great idea of how much the market moves on average between two signals.
Take Profit
The Take Profit line is placed at the average or the median price move and gives traders a great idea of what they can expect in average profit from the latest signals.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
SuperIchi [LuxAlgo]Using one indicator as the core for another one to improve certain aspects while offering an alternative user interaction can be very interesting in technical analysis.
This indicator is a modification of the popular Ichimoku indicator using the equally popular Supertrend indicator as its core, thus no longer entirely relying on calculations done over a fixed window size but instead relying on the average true range and the trend detection method offered by the Supertrend.
Settings
Tenkan: Atr length (left) and factor (right) used for the Supertrend involved in the calculations of the Tenkan Ichimoku component
Kijun: Atr length (left) and factor (right) used for the Supertrend involved in the calculations of the Kijun Ichimoku component
Senkou Span B: Atr length (left) and factor (right) used for the Supertrend involved in the calculations of the second Senkou Span Ichimoku component
Displacement: Bar offset of the cloud (positive offset) and Chikou (negative offset)
Usage
The SuperIchi indicator can be interpreted similarly to a regular Ichimoku as it retains the components and aspects from this one. Users can make use of the Supertrend Factor to detect shorter or longer-term trends.
Unlike the regular components of the Ichimoku based on rolling maximums/minimums, using the Supertrend here allows smoother components and makes it less prone to whipsaw signals.
Note that the Chikou is disabled by default in the style settings
Details
The original Ichimoku indicator is constructed from the average between the rolling maximum high and minimum low values. The Supertrend indicator also relies on one upper/lower extremity but using the average of these extremities for the modification of the Ichimoku indicator might not provide easy to use results due to the nature of these extremities.
Instead, we compute the average between the Supertrend and trailing maximums/minimums with a value reset when a new trend is detected by the Supertrend. This allows obtaining a result that is closer to the original average used by Ichimoku.
StableF-MainIt is combination of Built in Super trend and Adx with take profit
uptrend is considered when +dmi is above -dmi and +dmi is above 25 and adx is above 25 and supertrend gives Buy
downtrend is considered when -dmi is above +dmi and -dmi is above 25 and adx is above 25 and supertrend give sell
use fibo for target by taking as previous swing high and swing low
-supertrend crossover is referred as buy plotshape
-supertrend cross under is referred as Sell plotshape
-keep stoploss at dot line of supertrend
-adx-dmi crossover (+dmi crossed above -dmi) is shown by Triangle Up symbol
-adx-dmi crossunder( -dmi crosses below +dmi) is shown by Triangle down symbol
--Cross symbol with blue line with linewidth 2 is referred as Take profit
--combine this with adx -dmi setting with 7 and 14
----disclaimer-----
used free built in supertrend and adx so u can use same setting in other broker or in trading view
not responsible for any loss or gain
-only for educational purpose
Optimized Dynamic SupertrendDetailed Explanation of the Optimized Dynamic Supertrend Script
This Supertrend script is designed to dynamically adapt to different market conditions using ATR expansion, volume confirmation, and trend filtering. Below is a step-by-step breakdown of how it works and its functions.
1 ATR-Based Supertrend Calculation
📌 Key Purpose:
The script calculates an adaptive ATR-based Supertrend line, which acts as a dynamic support or resistance level for trend direction.
📌 How it Works:
ATR (Average True Range) is used to measure market volatility.
A dynamic ATR multiplier is applied based on price standard deviation (instead of a fixed value).
The Supertrend is calculated as:
Upper Band: SMA(close, ATR length) + (ATR Multiplier * ATR Value)
Lower Band: SMA(close, ATR length) - (ATR Multiplier * ATR Value)
The Supertrend flips when price crosses and holds beyond the Supertrend line.
🔹 Dynamic Adjustment:
Instead of using a fixed ATR multiplier, the script adjusts it using:
pinescript
Copy
Edit
dynamicFactor = ta.stdev(close, atrLength) / ta.sma(close, atrLength)
atrMultiplier = input(1.5, title="Base ATR Multiplier") * dynamicFactor
High volatility → Wider Supertrend bands (to avoid false signals).
Low volatility → Tighter Supertrend bands (for faster detection).
2 Trend Detection Logic
📌 Key Purpose:
Determines if the market is in a bullish or bearish trend based on price action.
Uses volume sensitivity and ATR expansion to reduce false signals.
📌 How it Works:
pinescript
Copy
Edit
var float supertrend = na
supertrend := close > nz(supertrend , lowerBand) ? lowerBand : upperBand
The Supertrend value updates dynamically.
If price is above the Supertrend line, the trend is bullish (green).
If price is below the Supertrend line, the trend is bearish (red).
3 Volume Sensitivity Confirmation
📌 Key Purpose:
Avoid false trend flips by confirming with volume (approximated using a CVD proxy).
📌 How it Works:
pinescript
Copy
Edit
priceChange = close - close
volumeWeightedTrend = priceChange * volume // Approximate CVD Behavior
trendConfirmed = volumeWeightedTrend > 0 ? close > supertrend : close < supertrend
Positive price change + High volume → Confirms bullish momentum.
Negative price change + High volume → Confirms bearish momentum.
If there’s low volume, the trend change is ignored to avoid false breakouts.
4 Noise Reduction (Final Trend Confirmation)
📌 Key Purpose:
Filter out weak or choppy price movements using ATR expansion.
📌 How it Works:
pinescript
Copy
Edit
trendUp = trendConfirmed and ta.atr(atrLength) > ta.atr(atrLength)
trendDown = not trendUp
Trend only flips when confirmed by volume + ATR expansion.
If ATR is not expanding, the script ignores weak price movements.
This ensures Supertrend signals align with strong market moves.
5 Can This Be Used on All Timeframes?
✅ YES! This Supertrend is adaptive, meaning it adjusts dynamically based on:
Volatility: Uses ATR expansion to adjust for different market conditions.
Timeframe Sensitivity: Works on any timeframe (1M, 5M, 15M, 1H, 4H, 1D, 1W).
Market Structure: Confirms trend flips using volume & price movement strength.
🚀 Best Timeframes for Trading:
For Scalping (1M - 15M) → Quick execution, best with order flow confirmation.
For Swing Trading (1H - 4H - 1D) → Stronger trend signals, reduced noise.
For High Timeframes (3D - 1W) → Identifies major market shifts.
🔥 Advantages & Disadvantages in Your Trading Setup
✅ Advantages:
✔ Fully Dynamic & Adaptive → Adjusts to different timeframes & volatility.
✔ Reduces False Signals → Uses ATR expansion & volume confirmation.
✔ Precise Trend Reversals → Labels LONG & SHORT entries clearly.
✔ Works on Any Market → Crypto, Forex, Stocks, Commodities.
✔ No Extra Indicators → Pure Supertrend-based (fits your setup).
❌ Disadvantages:
⚠ Lagging Indicator → ATR & volume confirmation add slight delay.
⚠ Needs High Volume to Confirm → Weak volume → no trend flip.
⚠ Choppy Market = Late Entries → Sideways movement can cause delays.
🚀 Final Thoughts:
It’s fully dynamic & adaptive (unlike traditional static Supertrends).
No extra indicators → Uses only Supertrend logic
Refines entry points using volume & ATR confirmation (removes noise).
This ensures you get high-probability trend signals while filtering out weak breakouts! 🎯
Smoothed SuperTrend with VWAP Confirmation [CHE] Smoothed SuperTrend with Automated Optimization and VWAP Confirmation
Overview
The "Smoothed SuperTrend with VWAP Confirmation" is an advanced technical analysis indicator designed for precise trend identification and trading signal generation. This script integrates a smoothed version of the popular SuperTrend indicator with an additional layer of confirmation using the Volume-Weighted Average Price (VWAP). The combination of these two elements offers traders a powerful tool for identifying optimal entry and exit points in the market.
Key Features
1. Smoothed SuperTrend
- Super Smoother Algorithm: The SuperTrend in this script is not just a regular one; it is enhanced by the Super Smoother filter, which reduces market noise and provides more reliable trend signals.
- Customizable Parameters: Traders can adjust three different sets of SuperTrend parameters (factor and ATR length), allowing them to tailor the indicator to their specific trading strategies.
- Automatic Optimization: The script automatically evaluates the performance of each SuperTrend parameter set and selects the one with the best cumulative performance. This selection process can be set to pick either the best or the worst performing parameter set, depending on the trader's preference.
2. VWAP Confirmation
- Precise Trend Confirmation: Once the best-performing SuperTrend is identified, the script further refines the signals by using VWAP as a confirmation tool. VWAP is a highly respected indicator in the trading community, often used to assess the true average price of an asset.
- Long and Short Signal Generation: The script generates Long and Short signals only when the price action is confirmed by both the SuperTrend and VWAP. For a Long signal, the price must be above the VWAP, and for a Short signal, it must be below the VWAP. This dual confirmation ensures higher accuracy and reduces the likelihood of false signals.
3. Visual and Informative Labels
- Signal Labels: Upon confirmation of a trend reversal by both the SuperTrend and VWAP, the script plots clear labels on the chart, indicating confirmed Long or Short signals. These labels are customizable in terms of color, text, and size, ensuring they fit seamlessly into any chart setup.
- Best Parameters Display: At the close of the most recent bar, the script displays a label that provides detailed information about the best-performing SuperTrend parameters and their cumulative performance. This feature keeps traders informed about which settings are currently most effective.
Input Customization Options
1. Super Smoother Length
- Traders can define the length of the Super Smoother filter, which is used to smooth both price data and ATR (Average True Range) values. This input allows traders to control the sensitivity of the indicator, with shorter lengths providing faster responses and longer lengths offering smoother trends.
2. SuperTrend Parameters
- Factor: For each of the three SuperTrends, traders can set a unique factor that determines the distance of the SuperTrend bands from the average price. A higher factor results in wider bands and fewer signals, while a lower factor results in narrower bands and more signals.
- ATR Length: Traders can also specify the length of the ATR used in each SuperTrend calculation. A longer ATR period captures broader market volatility, while a shorter period focuses on more immediate price movements.
3. Label Settings
- Label Colors: The script allows full customization of label colors for Long and Short signals, ensuring that they match the trader’s chart aesthetics.
- Label Text Colors and Sizes: Traders can adjust the text color and size of the labels for Long, Short, and information labels, allowing them to prioritize visibility and readability on their charts.
4. Performance Selection Mode
- Best or Worst Performer: This input allows traders to select whether the script should optimize for the best or worst performing SuperTrend parameter set. This flexibility is useful in different market conditions, where a trader might want to analyze either the strongest trend or focus on a contrarian strategy.
5. VWAP Calculation
- The script automatically recalculates the VWAP based on trend changes, ensuring that the confirmation signals are as accurate and relevant as possible to the current market context.
Important Note
This script is designed to provide more accurate trend signals and confirmations, but like all technical indicators, it should not be used in isolation. It is recommended to use this tool as part of a broader trading strategy, including proper risk management and consideration of fundamental market conditions.
Conclusion
The "Smoothed SuperTrend with VWAP Confirmation" script is an innovative trading tool that combines the strengths of the SuperTrend and VWAP indicators. By integrating smoothing techniques and automatic parameter optimization, this indicator provides traders with more accurate and reliable trend signals. The added confirmation by VWAP further enhances the precision of the entry and exit points, making it an excellent choice for traders looking to improve their technical analysis and trading outcomes. This tool is especially valuable for those who prefer customizable inputs and a systematic approach to trading, ensuring that the indicator adapts to various market conditions and individual trading styles.
Best regards
Chervolino
P T Supertrend CustomPT Supertrend Custom Indicator Description
The PT Supertrend Custom indicator is a dual Supertrend-based tool designed to help traders identify market trends and potential reversals with enhanced accuracy. This custom indicator plots two Supertrend lines with different ATR (Average True Range) lengths and multipliers, providing a broader perspective on price movements across varying market conditions.
Key Features:
1. Dual Supertrend Lines:
- The indicator calculates two separate Supertrend values using customizable ATR lengths (default: 7 and 21) and factors (default: 3.0 for both).
- This dual-layered approach helps identify both short-term and long-term trends for better decision-making.
2. Customizable Parameters:
- ATR Length (ATR Length & ATR Length2): Determines the lookback period for volatility calculation.
- Factor (Factor & Factor2): Defines the multiplier for the ATR, controlling the sensitivity of the Supertrend lines.
3. Visual Trend Representation:
- Green and red line plots represent uptrends and downtrends, respectively.
- The indicator overlays on the price chart, offering a clear visual representation of trend direction.
- Trend fill areas provide additional clarity, with green shading for uptrends and red shading for downtrends.
4. Dynamic Trend Shifts:
- The indicator adapts dynamically based on price action, switching from an uptrend to a downtrend and vice versa when conditions change.
- Two independent trend signals allow traders to compare short-term and long-term trend confirmations.
5. Overlay on Price Chart:
- The indicator is plotted directly on the price chart for easy visualization without cluttering the workspace.
How to Use:
- Trend Identification:
- A green Supertrend line below price indicates an uptrend.
- A red Supertrend line above price signals a downtrend.
- When both Supertrends align, it indicates a strong trend; divergence may signal potential reversals.
- Entry & Exit Signals:
- Consider long positions when both Supertrend lines turn green.
- Consider short positions when both Supertrend lines turn red.
- Use the shorter ATR period for quicker entries and exits, while the longer ATR period provides confirmation.
- Risk Management:
- The Supertrend lines can serve as dynamic support/resistance levels for placing stop-loss orders.
Best Used In:
- Trend-following strategies
- Swing trading and day trading
- Volatile markets where ATR-based signals are effective
This indicator provides a comprehensive view of market trends by combining short- and long-term trend filters, making it a valuable tool for traders seeking precision and clarity in their trading decisions.
Created by Prince Thomas
Profit Maximizer PMaxPMax is a brand new indicator developed by KivancOzbilgic in earlier 2020.
It's a combination of two trailing stop loss indicators;
One is Anıl Özekşi's MOST (Moving Stop Loss) Indicator
and the other one is well known ATR based SuperTrend.
Both MOST and SuperTrend Indicators are very good at trend following systems but conversely their performance is not bright in sideways market conditions like most of the other indicators.
Profit Maximizer - PMax tries to solve this problem. PMax combines the powerful sides of MOST (Moving Average Trend Changer) and SuperTrend (ATR price detection) in one indicator.
Backtest and optimization results of PMax are far better when compared to its ancestors MOST and SuperTrend. It reduces the number of false signals in sideways and give more reliable trade signals.
PMax is easy to determine the trend and can be used in any type of markets and instruments. It does not repaint.
The first parameter in the PMax indicator set by the three parameters is the period/length of ATR.
The second Parameter is the Multiplier of ATR which would be useful to set the value of distance from the built in Moving Average.
I personally think the most important parameter is the Moving Average Length and type.
PMax will be much sensitive to trend movements if Moving Average Length is smaller. And vice versa, will be less sensitive when it is longer.
As the period increases it will become less sensitive to little trends and price actions.
In this way, your choice of period, will be closely related to which of the sort of trends you are interested in.
We are under the effect of the uptrend in cases where the Moving Average is above PMax;
conversely under the influence of a downward trend, when the Moving Average is below PMax.
Built in Moving Average type defaultly set as EMA but users can choose from 8 different Moving Average types like:
SMA : Simple Moving Average
EMA : Exponential Movin Average
WMA : Weighted Moving Average
TMA : Triangular Moving Average
VAR : Variable Index Dynamic Moving Average aka VIDYA
WWMA : Welles Wilder's Moving Average
ZLEMA : Zero Lag Exponential Moving Average
TSF : True Strength Force
Tip: In sideways VAR would be a good choice
You can use PMax default alarms and Buy Sell signals like:
1-
BUY when Moving Average crosses above PMax
SELL when Moving Average crosses under PMax
2-
BUY when prices jumps over PMax line.
SELL when prices go under PMax line.
simple swing indicator-KTRNSE:NIFTY
1. Pivot High/Low as Lines:
Purpose: Identifies local peaks (pivot highs) and troughs (pivot lows) in price and draws horizontal lines at these levels.
How it Works:
A pivot high occurs when the price is higher than the surrounding bars (based on the pivotLength parameter).
A pivot low occurs when the price is lower than the surrounding bars.
These pivots are drawn as horizontal lines at the price level of the pivot.
Visualization:
Pivot High: A red horizontal line is drawn at the price level of the pivot high.
Pivot Low: A green horizontal line is drawn at the price level of the pivot low.
Example:
Imagine the price is trending up, and at some point, it forms a peak. The script identifies this peak as a pivot high and draws a red line at the price of that peak. Similarly, if the price forms a trough, the script will draw a green line at the low point.
2. Moving Averages (20-day and 50-day):
Purpose: Plots the 20-day and 50-day simple moving averages (SMA) on the chart.
How it Works:
The 20-day SMA smooths the closing price over the last 20 days.
The 50-day SMA smooths the closing price over the last 50 days.
These lines provide an overview of short-term and long-term price trends.
Visualization:
20-day SMA: A blue line showing the 20-day moving average.
50-day SMA: An orange line showing the 50-day moving average.
Example:
When the price is above both moving averages, it indicates an uptrend. If the price crosses below these averages, it might signal a downtrend.
3. Supertrend:
Purpose: The Supertrend is an indicator based on the Average True Range (ATR) and is used to track the market trend.
How it Works:
When the market is in an uptrend, the Supertrend line will be green.
When the market is in a downtrend, the Supertrend line will be red.
Visualization:
Uptrend: The Supertrend line will be plotted in green.
Downtrend: The Supertrend line will be plotted in red.
Example:
If the price is above the Supertrend, the market is considered to be in an uptrend, and if the price is below the Supertrend, the market is in a downtrend.
4. Momentum (Rate of Change):
Purpose: Measures the rate at which the price changes over a set period, showing if the momentum is positive or negative.
How it Works:
The Rate of Change (ROC) measures how much the price has changed over a certain number of periods (e.g., 14).
Positive ROC indicates upward momentum, and negative ROC indicates downward momentum.
Visualization:
Positive ROC: A purple line is plotted above the zero line.
Negative ROC: A purple line is plotted below the zero line.
Example:
If the ROC line is above zero, it means the price is increasing, suggesting bullish momentum. If the ROC is below zero, it indicates bearish momentum.
5. Volume:
Purpose: Displays the volume of traded assets, giving insight into the strength of price movements.
How it Works:
The script will color the volume bars based on whether the price closed higher or lower than the previous bar.
Green bars indicate bullish volume (closing price higher than the previous bar), and red bars indicate bearish volume (closing price lower than the previous bar).
Visualization:
Bullish Volume: Green volume bars when the price closes higher.
Bearish Volume: Red volume bars when the price closes lower.
Example:
If you see a green volume bar, it suggests that the market is participating in an uptrend, and the price has closed higher than the previous period. Red bars indicate a downtrend or selling pressure.
6. MACD (Moving Average Convergence Divergence):
Purpose: The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of the price.
How it Works:
The MACD Line is the difference between the 12-period EMA (Exponential Moving Average) and the 26-period EMA.
The Signal Line is the 9-period EMA of the MACD Line.
The MACD Histogram shows the difference between the MACD line and the Signal line.
Visualization:
MACD Line: A blue line representing the difference between the 12-period and 26-period EMAs.
Signal Line: An orange line representing the 9-period EMA of the MACD line.
MACD Histogram: A red or green histogram that shows the difference between the MACD line and the Signal line.
Example:
When the MACD line crosses above the Signal line, it’s considered a bullish signal. When the MACD line crosses below the Signal line, it’s considered a bearish signal.
Full Chart Example:
Imagine you're looking at a price chart with all the indicators:
Pivot High/Low Lines are drawn as red and green horizontal lines.
20-day and 50-day SMAs are plotted as blue and orange lines, respectively.
Supertrend shows a green or red line indicating the trend.
Momentum (ROC) is shown as a purple line oscillating around zero.
Volume bars are green or red based on whether the close is higher or lower.
MACD appears as a blue line and orange line, with a red or green histogram showing the MACD vs. Signal line difference.
How the Indicators Work Together:
Trend Confirmation: If the price is above the Supertrend line and both SMAs are trending up, it indicates a strong bullish trend.
Momentum: If the ROC is positive and the MACD line is above the Signal line, it further confirms bullish momentum.
Volume: Increasing volume, especially with green bars, suggests that the trend is being supported by active participation.
By using these combined indicators, you can get a comprehensive view of the market's trend, momentum, and potential reversal points (via pivot highs and lows).
DEB SuperTrend [Mattes]The Dynamic Envelope Based Supertrend integrates two key concepts: dynamic envelopes and the Supertrend, creating a powerful trend-following tool. Understanding its functionality requires a closer look at how the envelopes are constructed and how they interact with price action.
Dynamic Envelopes
>>> Dynamic envelopes are bands that surround a central moving average (MA) which is set by the user. These are then calculated based on the standard deviation of price movements over a specified period. The formula for the upper and lower envelopes is as follows:
Upper Envelope=MA+(Multiplier×STD)
Lower Envelope=MA−(Multiplier×STD)
This dynamic approach ensures that the envelopes expand and contract based on market volatility. In periods of high volatility, the envelopes widen, allowing for more price movement without triggering false signals. Conversely, in low-volatility periods, the envelopes tighten, enhancing sensitivity to price changes.
Interaction with the Supertrend
The Supertrend component is a trend-following indicator that utilizes the concept of Average True Range (ATR) to define its trailing stop levels.
In this indicator however (like I've mentioned before), the ATR bands have been replaced with the STD envelopes, as they offer a better performance compared to ATR bands.
Trend Direction
The Supertrend indicator generates buy and sell signals based on price crossing the calculated upper and lower envelopes:
>>> Buy Signal: Triggered when the price closes above the upper envelope, indicating a potential upward trend.
>>> Sell Signal: Triggered when the price closes below the lower envelope, suggesting a downward trend.
Adaptive Nature:
The dynamic envelopes effectively serve as dynamic support and resistance levels, which adapt to price movements and volatility, while the Supertrend tracks these levels to confirm the trend direction and adjust accordingly to changes, making it an enhanced version of ATR Based Supertrends.
Unique Aspects and Advantages
->>>> The Dynamic Envelope Based Supertrend is unique for several reasons:
>>> Volatility Responsiveness: The indicator adjusts its sensitivity based on market conditions, reducing the likelihood of false signals during quiet market phases and improving reliability during volatile periods. This is reasoned by the STD envelope bands contracting and expanding relative to the tickers performance.
>>> Trend Confirmation: By integrating the Supertrend logic, the indicator not only provides entry signals but also guides traders on when to exit, maintaining a focus on trend-following rather than mean reversion.
>>> Stability: Due to its use of Standard deviation envelopes, it is very ressistant in periods of uncertainty, Rather than buy bottom and selling tops, it stays long/short for the complete period of mean reverting environments, which is based on the bigger and fuller trend direction on the larger timescales.
>>> Clear Signals: The indicator simplifies decision-making by offering visual cues through its envelopes and trend signals, making it accessible to traders of all experience levels.
Summary:
The Dynamic Envelope Based Supertrend is a sophisticated trend-following indicator that intelligently combines dynamically adjusted STD envelopes with Supertrend logic. By incorporating volatility metrics, it offers a clear and actionable framework for traders, enhancing their ability to identify and follow trends effectively.
