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Bull vs Bear Power by DGTElder-Ray Bear and Bull Power Dr. Alexander Elder cleverly named his first indicator Elder-Ray because of its function, which is designed to see through the market like an X-ray machine. Developed in 1989, the Elder-Ray indicator can be applied to the chart of any security and helps traders determine the strength of competing groups of bulls and bears by gazing under the surface of the markets for data that may not immediately be ascertainable from a superficial glance at prices The Elder-Ray indicator is comprised by three elements – Bear Power, Bull Power and a 13-period Exponential Moving Average. As the high price of any candle shows the maximum power of buyers and the low price of any candle shows the maximum power of sellers, Elder uses the 13-period EMA in order to present the average consensus of price value. Bull power shows whether buyers are capable of pushing prices above the average consensus of value. Bear power shows whether sellers are capable of pushing prices below the average consensus of value. Mathematically, Bull power is the result of subtracting the 13-period EMA from the high price of the day, and Bear power is the result of subtracting the 13-period EMA from the low price of the day. What does this study implements Attempts to customize interpretation of Alexander Elder's Elder-Ray Indicator (Bull and Bear Power) by • adding additional insights to support/confirm Elder’s strategy with different indicators related with the Elder’s concept • providing different options of visualization of the indicator • providing smoothing capability Other Indicators to support/confirm Elder-Ray Indicator: Colored Directional Movement Index (CDMI) , a custom interpretation of J. Welles Wilder’s Directional Movement Index (DMI) , where : DMI is a collection of three separate indicators ( ADX , +DI , -DI ) combined into one and measures the trend’s strength as well as its direction CDMI is a custom interpretation of DMI which presents ( ADX , +DI , -DI ) with a color scale - representing the trend’s strength, color density - representing momentum/slope of the trend’s strength, and triangle up/down shapes - representing the trend’s direction. CDMI provides all the information in a single line with colored triangle shapes plotted on the top. DMI can provide quality information and even trading signals but it is not an easy indicator to master, whereus CDMI simplifies its usage. Alexander Elder considers the slope of the EMA, which gives insight into the recent trend whether is up or down, and CDMI adds additional insight of verifying/confirming the trend as well as its strength Note : educational content of how to read CDMI can be found in ideas section named as “Colored Directional Movement Index” different usages of CDMI can be observed with studies “Candlestick Patterns in Context by DGT", “Ichimoku Colored SuperTrend + Colored DMI by DGT”, “Colored Directional Movement and Bollinger Band's Cloud by DGT”, and “Technical Analyst by DGT” Price Convergence/Divergence , if we pay attention to mathematical formulations of bull power, bear power and price convergence/divergence (also can be expressed as price distance to its ma) we would clearly observe that price convergence/divergence is in fact the result of how the market performed based on the fact that we assume 13-period EMA is consensus of price value. Then, we may assume that the price convergence/divergence crosses of bull power, or bear power, or sum of bull and bear power could be considered as potential trading signals Additionally, price convergence/divergence visualizes the belief that prices high above the moving average or low below it are likely to be remedied in the future by a reverse price movement Alternatively, Least Squares Moving Average of Price Convergence/Divergence (also known as Linear Regression Curve) can be plotted instead of Price Convergence/Divergence which can be considered as a smoothed version of Price Convergence/Divergence Note : different usages of Price Convergence/Divergence can be observed with studies “Trading Psychology - Fear & Greed Index by DGT”, “Price Distance to its MA by DGT”, “P-MACD by DGT”, where “Price Distance to its MA by DGT” can also be considered as educational content which includes an article of a research carried on the topic Options of Visualization Bull and Bear Power plotted as two separate • histograms • lines • bands Sum of Bull and Bear Power plotted as single • histogram • line • band Others Price Convergence/Divergence displayed as Line CDMI is displayed as single colored line of triangle shapes, where triangle shapes displays direction of the trend (triangle up represents bull and triangle down represent bear), colors of CDMI displays the strength of the trend (green – strong bullish, red – strong bearish, gray – no trend, yellow – week trend) In general with this study, color densities also have a meaning and aims to displays if the value of the indicator is falling or growing, darker colors displays more intense move comparing to light one Note : band's upper and lower levels are calculated by using standard deviation build-in function with multiply factor of 0.236 Fibonacci’s ratio (just a number for our case, no any meaning) Smoothing No smoothing is applied by default but the capability is added in case Price Convergence/Divergence Line is assumed to be used as a signal line it will be worth smoothing the bear, bull or sum of bear and bull power indicators Interpreting Elder-Ray Indicator, according to Dr. Alexander Elder Bull Power should remain positive in normal circumstances, while Bear Power should remain negative in normal circumstances. In case the Bull Power indicator enters into negative territory, this implies that sellers have overcome buyers and control the market. In case the Bear Power indicator enters into positive territory, this indicates that buyers have overcome sellers and control the market. A trader should not go long at times when the Bear Power indicator is positive and he/she should not go short at times when the Bull Power indicator is negative. 13-period EMAs slope can be used in order to identify the direction of the major trend. According to Elder, the most reliable buy signals are generated, when there is a bullish divergence between the Bear Power indicator and the price (Bear Power forms higher lows, while the market forms lower lows). The most reliable sell signals are generated, when there is a bearish divergence between the Bull Power indicator and the price (Bull Power forms lower highs, while the market forms higher highs). There are four basic conditions, required to go long or short, with the use of the Elder-Ray method alone. In order to go long: 1. The market is in a bull trend, as indicated by the 13-period EMA 2. Bear Power is in negative territory, but increasing 3. The most recent Bull Power top is higher than its prior top 4. Bear Power is going up from a bullish divergence The last two conditions are optional that fine-tune the buying decision In order to go short: 1. The market is in a bear trend, as indicated by the 13-period EMA 2. Bull Power is in positive territory, but falling 3. The most recent Bear Power bottom is lower than its prior bottom 4. Bull Power is falling from a bearish divergence The last two conditions are optional, they provide a stronger signal for shorting but they are not absolutely essential If a trader is willing to add to his/her position, he/she needs to: 1. add to his/her long position, when the Bear Power falls below zero and then climbs back into positive territory 2. add to his/her short position, when the Bull Power increases above zero and then drops back into negative territory. note : terminology of the definitions used herein are as per TV dictionary Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely Disclaimer : The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have 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 dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Penunjuk Pine Script®
oleh dgtrd
54
Price Distance to its MA by DGTPrices high above the moving average (MA) or low below it are likely to be remedied in the future by a reverse price movement as stated in an Article by Denis Alajbeg, Zoran Bubas and Dina Vasic published in International Journal of Economics, Commerce and Management Here comes a study to indicate the idea of this article, Price Distance to its Moving Averages (P/MA Ratio) The analysis expressed in the paper indicates that there is a connection between the distance of the prices to moving averages and subsequent returns : portfolios of stocks with lower prices to moving averages generally outperformed portfolios of stocks with higher prices to moving averages. This “overextended” effect is more pronounced when using shorter moving averages of 20 and 50 days, and is especially strong in short-term holding periods like one and two weeks. The highest annual returns are recorded when buying in the range of 0-5% below shorter moving averages of 20/50 days, and 0-10% below longer moving averages of 100/200 days. However, buying very far below almost all moving averages on almost all holding periods produces the lowest returns. The concept of this study recognizes three different modes of action. In a clearly established upward trend traders should be buying when prices are near or below the MA line and selling when prices move too far above the MA. Conversely, in downward trend stocks should be shorted when reaching or going above the moving average and covered when they drop too far below the MA line. In a sideways movement traders are advised to buy if the price is too low below the moving average and sell when it goes too far above it Short-term traders can expect to outperform in a one or two week time window if buying stocks with lower prices compared to their 20 and 50 SMA/EMA, one to two-week holding periods is quite high, ranging from 72,09% to 90,61% for the SMA(20, 50) and 85,03% to 87,5% for the EMA(20, 50). The best results for the SMA 20 and 50, on average, are concentrated in the region of 0-5% below the MA for the majority of holding periods. Buying very far below almost all MA in almost all holding periods turns out to be the worst possible option Candle patterns, momentum could be used in conjunction with this indicator for better results. Try Colored DMI and Ichimoku colored SuperTrend by DGT
Penunjuk Pine Script®
oleh dgtrd
41
SupterTrend I created this script for basically two reasons 1. there is not simple suptertrend indicator available on tv rather you will find many fancy suptrend indicators with confusing other indicators and absurd background colors i dont know why some of the trader coders are obsessed with is using over the top color and designing phenomena. 2. I want to let people know about the accuracy of suptertrend indicator on multiple time frames i am plaining to create a backtesting tool for almost all Famous indicators so that specially new folks know what should they expect from any particular Indicator Also i added intraday filter to check the results for intrday signals . the sqaure off timings are for Indian markets only but you can edit the hours and minutes in the code for using other than indian markets. No need to do anything if you only want positional trading trading results
Strategi Pine Script®
oleh Gurjant_Singh
9
Super Z strategy - Thanks to Rafael Zioni//Original script //https://www.tradingview.com/script/wYknDlLx-super-Z/ This is a test for verifying if this interesting study works well. The author, thanks to him!!!, advise a possible repaint because the script uses security function. Refer to tradingview.com for more info on repainting: www.tradingview.com QUOTE: We can see repainting in the following cases: 1- Strategies using calc_on_every_tick=true. A strategy with parameter calc_on_every_tick = false may also be prone to repainting, but to a lesser degree. (this is not the case, ndr). 2- Using security for requesting data from a resolution higher than the resolution of the chart’s main symbol (i.e. do not use ion weelky chart if you set 1440 (1Day) in inputs) NOTE: Thanks again to Rafael Zioni. If he requires to delete this strategy, I'll do immediately.
Strategi Pine Script®
oleh 03.freeman
44
Grover Llorens Activator [alexgrover & Lucía Llorens] Trailing stops play a key role in technical analysis and are extremely popular trend following indicators. Their main strength lie in their ability to minimize whipsaws while conserving a decent reactivity, the most popular ones include the Supertrend, Parabolic SAR and Gann Hilo activator. However, and like many indicators, most trailing stops assume an infinitely long trend, which penalize their ability to provide early exit points, this isn't the case of the parabolic SAR who take this into account and thus converge toward the price at an increasing speed the longer a trend last. Today a similar indicator is proposed. From an original idea of alexgrover & Lucía Llorens who wanted to revisit the classic parabolic SAR indicator, the Llorens activator aim to converge toward the price the longer a trend persist, thus allowing for potential early and accurate exit points. The code make use of the idea behind the price curve channel that you can find here : I tried to make the code as concise as possible. The Indicator The indicator posses 2 user settings, length and mult , length control the rate of convergence of the indicator, with higher values of length making the indicator output converge more slowly toward the price. Mult is also related with the rate of convergence, basically once the price cross the trailing stop its value will become equal to the previous trailing stop value plus/minus mult*atr depending on the previous trailing stop value, therefore higher values of mult will require more time for the trailing stop to reach the closing price, use higher values of mult if you want to avoid potential whipsaws. Above the indicator with slow convergence time (high length) and low mult. Points with early exit points are highlighted. Usage For Oscillators The difference between the closing price and an overlay indicator can provide an oscillator with characteristics depending on the indicators used for differencing, Lucía Llorens stated that we should find indicators for differencing that highlight the cycles in the price, in other terms : Price - Signal , where we want to find Signal such that we maximize the visibility of the cycles, it can be demonstrated that in the case where the closing price is an additive model : Trend + Cycles + Noise , the zero lag estimation of the Trend component can allow for the conservation of the cycle and noise component, that is : Price - Estimate(Trend) , for example the difference between the price and moving average isn't optimal because of the moving average lag, instead the use of zero lag moving averages is more suitable, however the proposed indicator allow for a surprisingly good representation of the cycles when using differencing. The normalization of this oscillator (via the RSI) allow to make the peak amplitude of the cycles more constant. Note however that such method can return an output with a sign inverse to the one of the original cycle component. Conclusion We proposed an indicator which share the logic of the SAR indicator, that is using convergence toward the price in order to provide early exit points detection. We have seen that this indicator can be used to highlight cycles when used for differencing and i don't exclude publishing more indicators based on this method. Lucía Llorens has been a great person to work with, and provided enormous feedback and support while i was coding the indicator, this is why i include her in the indicator name as well as copyright notice. I hope we can make more indicators togethers in the future. (altho i was against using buy/sells labels xD !) Thanks for reading !
Penunjuk Pine Script®
oleh alexgrover
44
Aroon Oscillator strategy by SauciusThis strategy suits better for stock, indexes and commodities sufficiently volatile but with not so strong trend, where perspective of future quotations are not so certain. For these financial instruments this system works better than others based on classical trend oscillator (like Supertrend) This strategy starts from the idea of the creator of Aroon lines, Tushar Chande, whose suggested to an unique Aroon Oscillator (defined as Aroon Up - Aroon Down), instead of 2 lines (for reference, original article avaible in:" Stocks & Commodities , V. 13:9 : A Time Price Oscillator by Tushar Chande, Ph .D."" - paragraph: "more patterns"). Use middle line for taking position, and the extreme ones (high and low) for exiting from long/short position. Extreme lines are not use for opening position against the trend. Best values are for EU stocks and indexes: 19 periods, middle line = - 25 (ecxpecially for shares, give the general tendency of growing). Therefore also levels for exiting long/short position are not specular (levelhigh stops at + 75, low at -85 since stocks when go down, fall often heavily) Please give feedback for improving this strategy! All the best, MS .
Strategi Pine Script®
oleh saucius
5
Super Trend Daily 2.0 Alerts BFThis is an alerts script for my Super Trend 2.0 indicator . It is intended as a companion script so you can backtest using the Strategy script and generate alerts using this Study script. This Study script has the same default settings as the Strategy script and its only purpose is to provide alerts for the long and short signals the Strategy generates. Obviously, if you want to generate alerts based on a Strategy backtest, please ensure the settings are the same in the Study as in the Strategy. For illustration, I have plotted arrows on the chart for long and short signals, and also colored the background to show when the rate of change function determines a choppy/sideways market. ALERTS There are 2 alerts set up: Long Entry Short Entry ILLUSTRATION Green arrow = Long Entry Red arrow = Short Entry White background = No short trades Aqua background = No long trades EXAMPLE USE CASE 1. Open a Bitcoin/USD chart on 1D timeframe. 2. Open this script and the Super Trend 2.0 indicator script. 3. Backtest with the Strategy Backtester and change the settings if you like until you get a desirable outcome for your own purposes. 4. Once you are happy with the backtest, change the settings in the Alerts script (this one) so they match the Strategy settings. 5. Set up the alerts according to your preferences.
Penunjuk Pine Script®
oleh bennef
7
Super Trend Daily 2.0 BFThis is my Super Trend Daily strategy but with one important difference. You can now adjust settings for long or short signals individually and separately. For example, the condition for a long signal may require a different parameter setting than the condition for a short signal. Each parameter in the signal generation can be tuned. You can also decide what kind of stop loss you want for each side - you could have a fixed stop loss for longs and an ATR derived stop loss for shorts, or whatever. We also have the option to choose if we want longs, shorts or both. INISTRUCTIONS Look at the background colors: Green line = long signal Red line = short signal Aqua = No long trades White = No short trades Yellow dotted line = stop loss for long Orange dotted line = stop loss for short The aqua and white backgrounds mean the conditions are choppy/sideways according to our settings we applied to the rate of change function for a long/short signal respectively. It is possible to get a long signal in a white background, but not a short signal. Similarly, it is possible to get a short signal in an aqua background, but not a long signal. This is a work in progress so any suggestions for improvements are welcome.
Strategi Pine Script®
oleh bennef
39
Super Trend Daily BF 🚀Super Trend is based on volatility and attempts to show the overall greater trend of a market. Thanks to everget for the idea of improving the Super Trend code. Thanks to kiasaki for ROC code. The idea here is to enter a trade upon trend reversal (unless we have a white background - this indicates choppy/sideways market). INSTRUCTIONS Follow the background color for signals of a trend reversal. Bright green = long Bright red = short White = no trade We use a fixed stop loss here of 6% but I have included the option to apply an ATR based stop loss in Settings. No take profit. No re-entering until we get an opposing signal. I use a Rate of Change function to detect when we should stay out due to choppy sideways price action. This strategy was optimised for XBT/USD on Bitmex 1 day chart, ideal settings for other pairs will differ.
Strategi Pine Script®
oleh bennef
13
SuperC BF 🚀Based on some code from noro and kiasaki - thank you. A Super Trend is a trend over a long period of time. There are lots of existing scripts that generate signals based on the overall direction of an instrument. What if we combined this idea with a measure of Money Flow and added a filter to try to avoid choppy sideways action? I started with a super trend foundation and added an MFI calculation to account for volume flowing into and out of the asset. Then added a Rate of Change function to stay out of trades when there is not much up/down movement. INSTRUCTIONS Bright green background = go long Bright red background = go short COLOR OVERVIEW A white background means we don't trade A green background means we have a long condition A red background means we have a short condition The cloud is green when we have a long condition, red when we have a short condition. The cloud is yellow if we should be in a long already but the current candle is not satisfying all long conditions. The cloud is orange if we should be in a short already but the current candle is not satisfying all short conditions. The line at the bottom is MFI - this is green when the current candle is greater than the last, red when it is less than the last. SIGNAL GENERATION A long condition is when MFI > MFI AND we are not in a choppy market AND when price is above the super trend. A short condition is when MFI < MFI AND we are not in a choppy market AND when price is below the super trend. We use a fixed Stop Loss of 2% here on the daily timeframe for XBT/USD. If we get stopped out from a long and we still have the conditions for a long, we re-enter. Same for short.
Strategi Pine Script®
oleh bennef
Three Line Break Backtest This is a modified version of the three line break price representation. It is composed with 2 lines made of Close price values forming a “cloud”. If the trend is bullish and the price breach the lower level of the green cloud, a new bearish trend is taking place. If the current trend is bearish and the price breakout the upper band of the cloud, a new bullish trend is forming. This is a “price action” indicator, signals may be filtered by long term trend analysis with other indicators such as Supertrend for instance. WARNING: - For purpose educate only - This script to change bars colors.
Strategi Pine Script®
oleh HPotter
2
Three Line Break This is a modified version of the three line break price representation. It is composed with 2 lines made of Close price values forming a “cloud”. If the trend is bullish and the price breach the lower level of the green cloud, a new bearish trend is taking place. If the current trend is bearish and the price breakout the upper band of the cloud, a new bullish trend is forming. This is a “price action” indicator, signals may be filtered by long term trend analysis with other indicators such as Supertrend for instance.
Penunjuk Pine Script®
oleh HPotter
6
X system v1Similar to X system but here I use the super trend with MTF function the sell option depend on the % channel sell seen in red as bearish rule (so both need to agree) the buy option depend only on the MTF which is set on 2 hour on 1 hour candles. you can try to modify if you want shorter times to see if it better if you want it sell more just remove the and bearish rule from t green for buy in the code try to make it better and I hope it can help you :)
Penunjuk Pine Script®
oleh RafaelZioni
6
X systemSo how this system work ? 1. the bullish and bearish zones in lime and red are based on percent channel (you can modify it according to your needs) . this now is on 1 hour candles so I set it to 1% above and 3% bellow for BTC on bitmex. 2. we ha RSI super trend system which generate our buy and sell signals . Since the Super trend is an RSI like it act like one as we can see when it go from high to low much more easy compare to regular super trend One can optimize it to be full auto mode but it need more work to be much better and safe This indicator aim is to help you in your decisions for buy and sell and I would not advise to use it as a bot but as a helper when you decide to buy and sell
Penunjuk Pine Script®
oleh RafaelZioni
2
STOP-LOSS-RSI with Edge-Preserving FilterThe is a modified RSI line, with a true overlay. It can be used for entries and exits or stop-loss. The idea came from Alexgrover. The first part of the code, RSI, was taken from J.Dow's code of Supertrend and RSI. While the second part of the code was taken from Alexgrover's code "Edge-Preserving Filter". The silver line was the original RSI line while the red line is the modified RSI line. Hope it helps, I know I need it.
Penunjuk Pine Script®
oleh aaahopper
3
MTA-Traling StopIntroduction Based on my previous indicator , this indicator plot a trailing stop using classic conditions. Using The Indicator Like any trailing stop when price is higher than the trailing stop this imply a buy signals, when price is lower than the trailing stop this imply a sell signal. It is possible to use decimals instead of integers for length as shown here : length = 14.7 The indicator tend to react faster to price movements when a trend has been really long, this methodology is similar to the one used by the parabolic sar. Downsides Lack of robustness with the length parameter, the behaviour of the trailing stop can be hard to predict. There is a real need for control. Conclusion The indicator can be adaptive, even if it already is in a certain way, by changing the alpha variable at the start considering that 0 < alpha < 1. Its not recommended to use it right now except for testing/coding purpose. It is clear that i'm not enthusiast when it come to this script, there is a real lack of accuracy, i still hope it can be of use.
Penunjuk Pine Script®
oleh alexgrover
4
Efficient Auto LineMore Efficiency Based on the Auto-Line code, the Efficient Auto Line aim to provide a more controlled adaptivity of the indicator. The first indicator of this sort worked this way : when the absolute difference between the price and the indicator is higher than the previous indicator +/- A pips of amplitude, the indicator will display the closing price, else its anterior value. The second indicator (Auto-Line) was adaptive and used the standard deviation instead of a constant A . This indicator will run both methodology providing both a trend strength indicator (Efficiency Ratio) parameter and two constant parameter. Parameters The length parameter will control the period of the efficiency ratio, a high period return lower values of the efficiency ratio. Since its an indicator in a range of (0,1) we use it to make our indicator more adaptive in trending market, this is when we need our two constant parameters, the fast/slow parameter can be any amount of pips where fast < slow , when the price is trending (efficiency ratio close to 1) the indicator will use the fast parameter, if its ranging (efficiency ratio away from 1) the indicator will use the slow parameter, then it will work like the first methodology previously explained. So the fast parameter should be equal to a small movement of pips (0.0001 or 1 pip) and the slow parameter should be equal to a number of pips you wont expect to see in a ranging market. At this point it is good to test for both parameter and see which values work better (a more automatic process is in development) . Hope you like it !
Penunjuk Pine Script®
oleh alexgrover
12