MACD Support ResistanceThis script is dynamic support & resistance based on MACD cross.
Resistance= Highest value of candle looks back when MACD crossunder.
Support= Lowest value of candle looks back when MACD crossover.
Middle line is average of Resistance and Support.
Buy when close, LSMA and SMMA crossover middle line. Please use Green Trend Line as SL or Trailing.
Sell when close, LSMA and SMMA crossunder middle line. Please use Red Trend Line as SL or Trailing.
Let me know if its useful for you in the comments and by giving Like (means a lot to me). Also share your feedback and ideas to improve this script further.
Cari dalam skrip untuk "support"
Volume Profile and Volume Indicator by DGTVolume Profile (also known as Price by Volume) is an charting study that displays trading activity over a specified time period at specific price levels. It is plotted as a horizontal histogram on the finacial isntrumnet's chart that highlights the trader's interest at specific price levels.
The histogram is used by traders to predict areas of support and resistance. Price levels where the traded volume is high could be assumed as support and resistance levels.
Price may experience difficulty moving above or below areas with large bars. Usually there is a great deal of activity on both the buy and sell side and the market stays at that price level for a great deal of time
It is advised to use volume profile in conjunction with other forms of technical analysis to maximize the odds of success
Light version of Volume Profile is added to Price Action - Support & Resistance by DGT
Chikou Support and Resistance by TheSocialCryptoClubName: Chikou Supports and Resistances
Category: Indicator
Timeframe: Any Timeframe.
Description: Chikou Support and Resistance is an indicator which allows to represent on the chart the price structures identified by the cusps formed by the Ichimoku Kinko Hyo Chikou, Chikou is the line chart of close price projected in the past as per Kijun periods.
Suggested usage: Use on any timeframe. It is possible to calculate cusp only in a certain period and in a different time frame, and select those calculated by specific lines.
Technical Details: Internally it uses an Array to store the levels of when the Chikou bounces using the Zig-Zag indicator. At the last bar it prints the various lines on the screen.
Credits:
- Techniques has been explained by Corrado Rondelli in "Strategie di trading con l’indicatore Ichimoku Kinko Hyo"
- It is based on the Zig-Zag indicator of TradingView to calculate the Zig-Zag.
Ichimoku Support and Resistance by TheSocialCryptoClubName: Ichimoku Supports and Resistances
Category: Indicator
Timeframe: Any Timeframe.
Description: Ichimoku Support and Resistance is an indicator which allows to represent on the chart the price structures identified through the flat zones of the various lines of the Ichimoku Kinko Hyo indicator
Suggested usage: Use on any timeframe. It is possible to calculate flat zones only in a certain period and in a different time frame, and select those calculated by specific lines.
Technical Details: Internally it uses an Array to store the levels of when a line is flat (calculating the distance to the previous one). At the last bar it prints the various lines on the screen.
Credits:
- Some of the indications has been explained by Corrado Rondelli in "Strategie di trading con l’indicatore Ichimoku Kinko Hyo"
K's EnvelopesTrading is all about finding reactionary levels from where we assume prices will take a certain direction. And from that assumption, we initiate either a long (Buy) position or a short (Sell) position. Many techniques can be used to find support and resistance levels such as pivot points, Fibonacci retracements, and graphical levels. However, these techniques are all static in time, i.e. they do not move with real time data. In contrast, moving averages are dynamic and do a great job at finding support and resistance levels.
The idea of K's Envelopes is to form support and resistance zones so that we find good entry points. It is a combination of two 800-period moving averages where one is applied to the highs and the other applied to the lows, thus forming a moving zone used to support or place a ceiling on the market price.
CoRA Ribbon - Multiple Compound Ratio Weighted Moving AveragesWhat distinguishes this indicator?
A Compound Ratio Weighted Moving Average ("CoRA") is a Moving Average that, regardless of its length, has very little lag and that can be relied on to accurately track price movements and fluctuations - compared to other types of Moving Averages.
By combining multiple Compound Ratio Weighted Moving Averages you can identify the trend better and more reliably . This is where "CoRA Ribbon" comes in.
The original study, which supported one CoRA Wave, comes from RedKTrader and was introduced as "RedK Compound Ratio Moving Average (CoRa_Wave)” . Thanks to him for the great work!
What was improved or added to this version of the indicator?
With this version of the indicator, up to 5 waves of Compound Ratio Moving Averages with different lengths can be combined and output to one "CoRA Ribbon".
Alerts were implemented. You can be notified e.g. in the event of
changes in direction of each single CoRA Wave
a trend change, which is determined on the basis of all 5 CoRA Waves
A CoRA Wave compared to other Moving Averages - CoRa Waves are less lagging behind
A suggestion for interpretation of “CoRA Ribbon”:
Since CoRA Ribbon can help you to identify the trend better and more reliably, this indicator provides a good baseline for your strategy, but should always be used in conjunction with other indicators or market analysis.
By adjusting the length of each individual wave, you can adapt "CoRA Ribbon" to your trading style - whether it is more aggressive or more cautious.
The following general rules can be formulated:
If the Ribbon changes its color to green, this can be interpreted as a buy signal.
If the Ribbon changes its color to red, this can be interpreted as a sell signal.
Good to know: The default settings have been selected for timeframe lower than 15 minutes. Adjust them and the indicator will do a great job on higher timeframes too. Please remember to test carefully after every change before the changes are applied to your live trading.
Background “Compound Ratio Weighted Average” - provided by "RedKTrader"
A Compound Ratio Weighted Average is a moving average where the weights increase in a "logarithmically linear" way - from the furthest point in the data to the current point.
The formula to calculate these weights work in a similar way to how "compound ratio" works: you start with an initial amount, then add a consistent "ratio of the cumulative prior sum" each period until you reach the end amount. The result is the "step ratio" between the weights is consistent - This is not the case with linear-weighted “Moving Average Weighted” (WMA) or “Exponential Moving Average” (EMA)
For example, if you consider a Weighted Moving Average ( WMA ) of length 5, the weights will be (from the furthest point towards the most current) 1, 2, 3, 4, 5 -- we can see that the ratio between these weights are inconsistent. in fact, the ratio between the 2 furthest points is 2:1, but the ratio between the most recent points is 5:4. the ratio is inconsistent, and in fact, more recent points are not getting the best weights they should get to counter-act the lag effect. Using the Compound Ratio approach addresses that point.
A key advantage here is that we can significantly reduce the "tail weight" - which is "relatively" large in other Moving Averages.
A Compound Ratio Weighted Moving Average is a moving average that has very little lag and that can be relied on to accurately track price movements and fluctuations.
Use or modify the code, invite us for a coffee, ... most importantly: have a lot of fun and success with this indicator
The code is commented - please don't hesitate to use it as needed or customize it further ... and if you are satisfied and even successful with this indicator, maybe buy us a coffee ;-)
The original developer ( RedKTrader ) and I ( consilus ) are curious to see how our indicators will develop through further ideas - so please keep us updated.
Bollinger Bands SRThis simple script base on Bollinger Bands to defined Support and Resistance and marked Bar False broken SR by Reversal Arrow. Detail of rule as below:
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1.Defined Support and Resistance
1.1.Support
+ Key bar:
- Open Price lower than BB lower band, Close Price higher than BB lower band
+ Support Zone:
- Bottom Zone place at Low Price of Key bar
- Top Zone place at Median Price (HL2) of Key bar
1.2.Resistance
+ Key bar:
- Open Price higher than BB upper band, Close Price lower than BB upper band
+ Resistance Zone:
- Bottom Zone place at Median Price (HL2) of Key bar
- Top Zone place at High Price of Key bar
1.3.Median Line
+ Median Line place at half of Range limit by Support and Resistance
================================================
2.Defined False Break
2.1.Defined Bull Trap
+ High Price higher than Top of Resistance Zone
+ Close Price lower than Top of Resistance Zone
+ Open Price higher than Bottom of Resistance Zone
+ Bar Direction is downward
+ Body of current Bar greater than Body of previous bar
2.2.Defined Bear Trap
+ Low Price lower than Bottom of Support Zone
+ Close Price higher than Bottom of Support Zone
+ Open Price lower than Top of Support Zone
+ Bar Direction is upward
+ Body of current Bar greater than Body of previous bar
================================================
3.Defined Reversal Arrow and Alert
+ Arrow Down when Bull Trap appear
+ Arrow Up when Bear Trap appear
+ Alert when Reversal Arrow appear
================================================
4.Trading
4.1.Long Position
+ Consider open positon when Arrow Up appear
+ Stoploss place at Low Price of Arrow Bar
+ Take profit at Resistance Zone
+ Consider Exit Position when:
- Price moving above Median Line and has Bearish Reversal Pattern
4.2.Short Position
+ Consider open positon when Arrow Down appear
+ Stoploss place at High Price of Arrow Bar
+ Take profit at Support Zone
+ Consider Exit Position when:
- Price moving below Median Line and has Bullish Reversal Pattern
Gann Circle Intraday LevelsThis indicator is an intraday version of Gann Circle Swing Levels indicator. It further divides the Gann Circle into the Eighths in order to generate intraday Levels.
Introduction
This indicator is based on W. D. Gann's Square of 9 Chart and can be interpreted as the Gann Circle / Gann Wheel / 360 Degree Circle Chart or Square of the Circle Chart for intraday usage.
Spiral arrangement of numbers on the Square of 9 chart creates a very unique square root relationship amongst the numbers on the chart. If you take any number on the Square of 9 chart, take the square root of the number, then add 2 to the root and re-square it, resulting in one full 360 degree cycle (i.e. a 360 degree Circle) out from the center of the chart.
For example,
the square root of 121 = 11,
11 + 2 = 13,
and the square of 13 = 169
The number 169 is one full 360 degree cycle out (with reference to 121) from the center of the Square of 9 chart. If we further divide the circle in eight equal parts of 45 degree each, following intermediate resistance levels (ascending) would be generated:
127 (45 degree)
133 (90 degree)
139 (135 degree)
145 (180 degree)
151 (225 degree)
157 (270 degree)
163 (315 degree)
Similarly, if you take any number on the Square of 9 chart, take the square root of the number, then subtract 2 from the root and re-square it, resulting in one full 360 degree inward rotation towards the center of the chart.
For example,
the square root of 565 = 23.77,
23.77 - 2 = 21.77,
and the square of 21.77 = 473.93 (approximately equal to 474, which is directly below 565 on the Square of 9 chart)
The number 474 is one full 360 degree inward rotation (with reference to 565) towards the center of the chart. If we further divide the circle in eight equal parts of 45 degree each, following intermediate support levels (descending) would be generated:
553 (45 degree)
541 (90 degree)
529 (135 degree)
518 (180 degree)
507 (225 degree)
496 (270 degree)
485 (315 degree)
How to Use this Indicator ?
This indicator is designed to generate Gann Circle Intraday Levels based on HIGH and LOW of the opening bar for the day. You may use the bar interval (1 minute, 3 minutes, 5 minutes, 15 minutes etc.) which is suitable for the underlying instrument. Support and resistance lines for the day would be generated only after confirmation of the opening bar of the day.
Input :
Number of Gann Levels (Number of Gann Levels to be projected)
Color codes for the Support and Resistance Levels
Output :
Gann Support or Resistance Levels:
HIGH and LOW of the Opening bar for the day (dashed BLUE lines)
Support levels calculated with reference to the HIGH of the opening bar
Resistance levels calculated with reference to the LOW of the opening bar
Fibonacci Extension / Retracement / Pivot Points by DGTFɪʙᴏɴᴀᴄᴄɪ Exᴛᴇɴᴛɪᴏɴ / Rᴇᴛʀᴀᴄᴍᴇɴᴛ / Pɪᴠᴏᴛ Pᴏɪɴᴛꜱ
This study combines various Fibonacci concepts into one, and some basic volume and volatility indications
█ Pɪᴠᴏᴛ Pᴏɪɴᴛꜱ — is a technical indicator that is used to determine the levels at which price may face support or resistance. The Pivot Points indicator consists of a pivot point (PP) level and several support (S) and resistance (R) levels. PP, resistance and support values are calculated in different ways, depending on the type of the indicator, this study implements Fibonacci Pivot Points
The indicator resolution is set by the input of the Pivot Points TF (Timeframe). If the Pivot Points TF is set to AUTO (the default value), then the increased resolution is determined by the following algorithm:
for intraday resolutions up to and including 5 min, 4HOURS (4H) is used
for intraday resolutions more than 5 min and up to and including 45 min, DAY (1D) is used
for intraday resolutions more than 45 min and up to and including 4 hour, WEEK (1W) is used
for daily resolutions MONTH is used (1M)
for weekly resolutions, 3-MONTH (3M) is used
for monthly resolutions, 12-MONTH (12M) is used
If the Pivot Points TF is set to User Defined, users may choose any higher timeframe of their preference
█ Fɪʙ Rᴇᴛʀᴀᴄᴇᴍᴇɴᴛ — Fibonacci retracements is a popular instrument used by technical analysts to determine support and resistance areas. In technical analysis, this tool is created by taking two extreme points (usually a peak and a trough) on the chart and dividing the vertical distance by the key Fibonacci coefficients equal to 23.6%, 38.2%, 50%, 61.8%, and 100%. This study implements an automated method of identifying the pivot lows/highs and automatically draws horizontal lines that are used to determine possible support and resistance levels
█ Fɪʙᴏɴᴀᴄᴄɪ Exᴛᴇɴꜱɪᴏɴꜱ — Fibonacci extensions are a tool that traders can use to establish profit targets or estimate how far a price may travel AFTER a retracement/pullback is finished. Extension levels are also possible areas where the price may reverse. This study implements an automated method of identifying the pivot lows/highs and automatically draws horizontal lines that are used to determine possible support and resistance levels.
IMPORTANT NOTE: Fibonacci extensions option may require to do further adjustment of the study parameters for proper usage. Extensions are aimed to be used when a trend is present and they aim to measure how far a price may travel AFTER a retracement/pullback. I will strongly suggest users of this study to check the education post for further details, where to use extensions and where to use retracements
Important input options for both Fibonacci Extensions and Retracements
Deviation, is a multiplier that affects how much the price should deviate from the previous pivot in order for the bar to become a new pivot. Increasing its value is one way to get higher timeframe Fib Retracement Levels
Depth, affects the minimum number of bars that will be taken into account when building
█ Volume / Volatility Add-Ons
High Volatile Bar Indication
Volume Spike Bar Indication
Volume Weighted Colored Bars
This study benefits from build-in auto fib retracement tv study and modifications applied to get extentions and also to fit this combo
Disclaimer:
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
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
FirstBarRangeFirstBarRange study displays lines for the high and low of the first bar/candle of the trading day, along with shaded areas for the range on top of the first bar high and below the first bar low.
This study is very useful for intraday traders to see when stocks trade above the first bar high, it shows strength, and many times the high of the first bar is also good support.
On the contrary, below the first bar high tends to be good area of weakness and many times it becomes a good resistance level.
Many times when the stock trades inside the first bar range, price will be choppy and range bound.
Auto Fib Speed Resistance Fans by DGTFibonacci Speed and Resistance Fan is an analytical drawing tool used to indicate the support and resistance levels of an existing trend and the price level at which possible changes in the trend may occur.
A Fibonacci Speed Resistance Fan consists of a trend line drawn between two extreme points - a trough and opposing peak or a peak and opposing trough - on which a set of sequential speed resistance lines are drawn above (which represents time) and below (which represents price). These lines are drawn based on time/price percentages of the distance between the beginning and the end of the trend line.
Speed resistance lines not only help to measure trend corrections but also measure the speed of a trend (the rate at which a trendline ascends or descends)
Traders can use the lines of the Fibonacci Speed and Resistance Fan to predict key points of resistance or support, at which they might expect price trends to reverse. Once a trader identifies patterns within a chart, they can use those patterns to predict future price movements and future levels of support and resistance. Traders use the predictions to time their trades. Key support and resistance levels tend to occur frequently at the 61.8-percent level on both uptrends and downtrends.
Please check for further details in the education post that I will share shortly after this publication :
Nobody appears to know whether Fibonacci tools work because markets exhibit some form of natural pattern or because many investors use Fibonacci ratios to predict price movements, making them a self-fulfilling prophecy.
█ Study OPTIONS
Auto Fibonacci Speed and Resistance Fan , the main aim of the study
- Pivot threshold can be adjusted via “Deviation” and “Depth” input options
- Historical Fans option will allow plotting of Speed and Resistance Fans on previous pivot high/lows
- Ability to set ALERTs for the Speed and Resistance Levels
- Price Grid Lines if extended it will result with Fib Retracement levels
- All lines, line levels are customizable, default values are set exactly to the same with the available Fib Speed and Resistance Fan drawing tool
Zig Zag – Derived from build-in Auto Fib Retracement with some customization options.
Example Usages :
Disclaimer :
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
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
[SK] Fibonacci Auto Trend ScouterThe FATS - Fibonacci Auto Trend Scouter automatically draws active trends from 2 different timeframes along with Fibonacci Support and Resistance levels. It also has a Sights feature for each timeframe which points from it's middle towards the current price. The tool is also highly customizable for you to take this indicator over 9000. If you like the tool and it adds value to you - share the love on the like button and visit my profile to check out my other indicators and subscribe, so you're notified of my next scripts and ideas!
Automatic Trend Lines
The indicator takes in 2 timeframes to detect High and Low values from which to draw the trend lines of each timeframe.
As the values change with price movement, the lines are updated. They are color coded for uptrend and downtrend based on the direction of each individual line. Trend lines can be set up to color with only the default value on the configurations panel.
- Toggle on/off Color Coded
- Change Default, Uptrend, Downtrend color
- Change Line Width
- Change Line Style
- Toggle on/off Line Extensions
- Change Extended Line Width
- Change Extended Line Style
- Toggle On/Off labels for 7 data points of each timeframe
Automatic Trend Sights
This is a neat feature that may help you get a better feel for the direction the current movement is heading towards in correlation with the short or medium length timeframe trends. The sight draws a line from the middle vertical point of the trend coordinates towards the current price. They are toggled off by default but can be enabled in the configurations panel.
- Toggle on/off sight on each timeframe
- Change Width
- Change Line Style
Automatic Fibonacci Levels
The tool has a very useful feature to automatically detect the highest and lowest value from the short timeframe to calculate Fibonacci support and resistant levels. To keep the chart area clean, the lines are drawn short by default towards the right side of the price but provide inputs to increase the size of the level lines towards the left and right direction. A triangle label appears to the side of each line which holds the Fibonacci level and price data inside the tooltip, hover over them to activate.
- Toggle on/off color coded
- Change Default, Resistance, Support colors
- Change line size towards the left and right side
- Change line width
- Change Resistance line style
- Change Support line style
- Toggle on/off High and Low source line
- Toggle on/off High and Low source labels
FIBS S/R IndicatorHello,
I've decided to publish a new script. The previous version of this script was removed by admins for breaking community rules.
So I present to you the Fibonacci Support / Resistance.
1. How does it work
Ratio plots
I first take the input of pivot look back and search for pivots high and low.
And then it takes a second look back to search highest high and lowest low to establish the top bottom range.
Then using the top and bottom I plot ratios provided as input. Defaults to most relevant 5 ratios I've found (Fibonacci):
Ratio 0 = 0 - can't be changed
Ratio 1 = 0.5
Ratio 2 = 0.618
Ratio 3 = 1
Ratio 4 = 1.618
Ratio 5 = 2.618
Any changes done to these ratios should be in order, otherwise conditions could get messed up. So R1 needs to the lowest and R5 the highest.
Also the same ratios are used in reverse as negative ratios.
There is a option to plot all ratios but gets really confusing for me but maybe for you it works. By default there are certain conditions set so that as we go up new resistance ratio get displayed and as we go down we see new resistance plots.
Trendlines
I've also added some automatic trendline plots with breakout warning labels based on the pivots high and low. Start and end for trendlines can be changed via inputs.
Labels can be deactivated via input. On a older version the trendlines and labels where not removed from the chart but I felt like there was to much information.
Overcooked/Undercooked
I've also added some fills and background colors that indicate if the price action is over R5 or under Negative R5 ratios. This usually indicates some "overcooking" or "undecooking".
I've notices that after "crossunder"/"crossover" top bottom ratios it goes in consolidation or it dumps. So then I plot a bgcolor to signal that.
2. How to use it
Using plot lines we can determine where we have support and resistance. I found that the best way to use the default ratios values is on the 1H chart. Very good for trading on crypto because of current situation in the market where there is a lot of new people entering the space and volatility and sentiment make swings respect the Fibonacci ratios.
3. Examples
For instance lets look at BINANCE:BTCUSDT .
On the left we see that the price action between 20 and 21 February was "overcooked". So after we got the signal that we "crossunder" the R5 the signal was triggered and we got a small red candle followed by a small dip and after that we got a small bounce and a dump.
If we also look at MF-RSI we can also see we got multiple bear divs.
Lets entertain the idea that we went short at ~57.1k as soon as we get signaled and it starts dumping.
Where does it stop ?
We can see it went all the way down to Negative R5 ratio. Normally that should signal "undercooking" but this was not triggered as it did not close under it (signaled in green).
We can also see that previous support now becomes resistance (signaled in red).
If we take a look at BINANCE:ETHUSDT , we do see that the "undercooking" was triggered here.
I will be publishing a more detailed Idea with examples of using this on the BINANCE:BTCUSDT chart in combination with Volume and other technical analysis.
Use with caution, this is not 100% signal indicator as the markets do what they want. But by using this in combination with other indicators like MF-RSI, EMAs and regular patterns we can get some targets for Support/Resistance.
I'm trying to create a strategy based on this indicator but I'm not getting very good results. Best results were on the 15 min chart with gross profits around ~50%.
Please try to play around with the inputs and let me know if you find something interesting, maybe I can incorporate new features in the indicator.
You can find the MF-RSI indicator here
Bitcoin Bulls and Bears by @dbtrBitcoin 🔥 Bulls & Bears 🔥
v1.0
This free-of-charge BTC market analysis indicator helps you better understand what's going with Bitcoin from a high-level perspective. At a glance, it will give you an immediate understanding of Bitcoin’s historic price channel dating back to 2011, past and current market cycles, as well as current key support levels.
Usage
Use this indicator with any BTCUSD pairs , ideally with a long price history (such as BNC:BLX )
We recommend to use this indicator in log mode, combined with Weekly or Monthly timeframe.
Features
🕵🏻♂️ Historic price channel curve since 2011
🚨 Bull & bear market cycles (dynamic)
🔥 All-time highs (dynamic)
🌟 Weekly support (dynamic, based on 20 SMA )
💪 Long-term support (channel bottom)
🔝 Potential future price targets (dynamic)
❎ Overbought RSI coloring
📏 Log/non-log support
🌚 Dark mode support
Remarks
With exception of the price channel curve, anything in this indicator is calculated dynamically , including bull/bear market cycles (based on a tweaked 20SMA), ATHs, and so on. As a result, historic market cycles may not be 100% accurately reflected and may also differ slightly in between various time-frames (closest result: Monthly). The indicator may even consider periods of heavy ups/downs as their own market cycles, even though they weren’t. Due to its dynamic nature, this indicator can however adapt to the future and helps you quickly identify potential changes in market structure, even if the indicator is no longer updated.
On top of that bullmarket cycles (colored in green) feature an ingrained RSI: the darker the green color, the more the RSI is overbought and close to a correction (darkest color in the chart = 90 Weekly RSI). In comparison with past bull cycles, it helps you easily spot potential reversal zones.
Thanks
Thanks to @quantadelic and @mabonyi which both have worked on the BTC "growth zones" indicator including the price channel, of which I have used parts of the code as well as the actual price channel data.
Follow me
Follow me here on TradingView to be notified as soon as new free and premium indicators and trading strategies are published. Inquire me for any other requests.
Enjoy & happy trading!
CPR by GuruprasadMeduriThis script will allow to add CPR with Standard Pivot ad 9 levels of support and 9 levels of resistance lines. It has CPR, 3 levels of Day-wise pivots, 3 levels of Weekly pivots and 3 Levels of Monthly Pivots. All the Support and resistance levels can be enabled / disabled from settings. It will allow to select multiple combinations of support and resistance levels across 3 levels at any of the 3 time-frames individually and combined.
These number of combinations will allow user to visualize the charts with desired pivot support & resistance levels on all or any of the 3 time frames.
For Ease of access, listed few points on how the script works..
- CPR and day-wise level 1 & 2 (S1, R1, S2 R2) enabled by default and can be changed from settings
- Day-wise Level 3 (S3 & L3) can be enabled from settings
- Weekly 3 levels and Monthly 3 levels can be enabled from settings
- CPR & pivot levels colored in blue lines
- All support levels colored in Green
- All resistance levels Colored in Red
- Day-wise pivot, support & resistance are straight lines
- Weekly pivot, support & resistance are cross (+) lines
- Weekly pivot, support & resistance are circle (o) lines
- Any combinations can be selected from stettings-> Inputs & style
// - This is an iterative development. Will add more features due course of time. Suggestions are always welcomed!!
SMI Stochastic Momentum Index 2x set per Baiynd -Tom1traderStochastic Momemtum Index - a true strength indix tsi with a moving average signal.
This uses the built in with modifications per Anne-Marie Baiynds recommendations - she uses a SIMPLE MOVING AVERAGE
for the signal (signal length at 4x the short length seems to work best to reflect actual price action support or resistance)
Note: Default settings in this code have been updated to her most recent recommendations that I have seen.
video is entitled "The Most Reliable Technical Indicator I Have Ever Used"
Note: I have not discussed this with Ms . Baiynd this is my interpretation of the vids I have seen.
Anne-Marie Baiynd also in talks / videos refers to the use of short / long of 4/20 and 6/40 and have combined both of them here
This overlays both of them with their respective SMAs- a 4/20 lengths and a 6/40 lengths in darker colors and smallest linewidth.
this gives a perspective on slightly higher time frame action.
USAGE: Generally above and below the black dashed zero line is long or short
KEYS: -Plot position relative to zero black, red overbought, green oversold and the gray lines at .25 -.25
Indicator action often more significant out side of the more "neutral" +.25/-.25 area
and near or above/below the red/green dashed lines.
-Steepness of slopes
Slopes of smi plots relate directly to price action where steeper is more momentum.
- -SMI blue relation to its simple moving average orange and the SMI longer dark blue with moving average purple.
MAJOR FEATURE - The average acts as support or resistance to the SMI and the price unless breaking out.
Price is often pausing or reversing iin finding primary/secondary support or resistance as well at those times.
You Can See and anticipate Where Support or Resistance may be Encountered. (much unlike most indicators)
My standard caveat -use at your own risk. Like anyone else I do not know what the next bar/candle is going to do
and I place all of my trades with a management plan in place for the worst case scenario.
That said enjoy your charting and trading.
This was coded starting with the built-in indicator "SMI Ergontic Oscilator / Indicator". You do this by within the Pine Editor select "New" tab and
choose the indicator that you want the code for. This populates the editor with the code for the built in indicator and you can modify it to suit your
purposes and save it / publish it and etc. Thanks for following this and Keep Smiling!
Price-Curve ChannelIntroduction
Although many will use lines in order to make support and resistances, others might use curves, this is logical since trends are not always linear. Therefore it was also important to take this into consideration, and when i published the price-line channel indicator, i already started a curved version of it. Therefore i propose this new indicator based on the recursive bands framework that allow to return curved support and resistances. The benefits of this indicator are : a totally stable approach, user friendly, and extremities able to converge faster toward the price.
The Indicator
The indicator is way faster than the price-line channel one, this is due to the fast convergence toward the price of the extremities. Length control the reactivity of the indicator, while mult is more related to the rate of convergence, values of mult lower than 1 will make the curve converge slower,
mult = .5
Higher values of mult will make the extremities converge faster toward the price.
mult = 2
Unlike the price-line channel indicator this one is directly "readjusted", this is due to the fact that the extremities are no longer linear, of course a "perfectly" curved version could come in an update, but for the moment it wasn't really a necessity.
Comparison With Price-Line
The fact that the extremities converge faster toward the price allow to possibly capture more tops/bottoms/retracements. However the extremities of both indicator have the same behavior regarding their accuracy, for example the upper extremity have a higher chance to detect a retracement when on a downtrend, while the lower extremity have higher chance to detect a retracement while on a up-trend.
On The Indicator Construction
The recursive bands framework is the core of the indicator, it is important to use it. The curved effect is given by multiplying the correction factor by the barssince function, therefore the correction factor is no longer constant which in return allow for a non linear output.
The size is divided by the square of length in order to keep a certain logic between the output and the length period.
Conclusion
The recursive bands framework prove again to be quite interesting, lot of indicators can be made using it, i only posted a fraction of what can be done with it, which make the recursive bands indicator one of the best indicators i ever made in my opinion.
The proposed indicator is stable, and don't require nightmarish manipulations (unlike the linear channels indicator), its ability to detect possible support and resistances points, although subjective, remain a feature of the indicator. The use of recursion make the indicator efficient. I hope the indicator find some use in the community.
Thanks for reading !
Linear version.
Note
Respect the house rules, always request permission before publishing open source code. This is an original work, requesting permission is the least you can do.
I apologize for any grammatical/orthographic error in this post.
Multiple EMAs with marked zones and custom timeframe supportThis script plots 10 exponential moving averages and marks the areas between them.
The lengths are Fibonacci numbers starting from 5 and ending with 377.
The colors indicate the length of the moving average, green for the shortest and purple for the longest.
The zones between consecutive EMA's (e.g. 5 and 8 ema ) are market according to the color of the greater one in value.
By default the script plots values for the current time frame, but supports custom time frames.
I'm releasing this script with an open visibility. Feel free to suggest improvements!
Enjoy,
s0ullight
Currency Correlation indicator for the major currenciesThis Pine script creates a currency correlation graph with 6 correlations in a separate window below the main chart.
The indicator supports the following 8 currencies: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD
Correlations can be selected to be either related to the base or the counter currency (default is base). The length of the correlation can be chosen (default is 10).
Correlations are given for related currencies e.g. for all AUD pairs.
If Base currency is selected and e.g. AUDCAD is displayed in the main window, then the correlation window will compare AUDCAD to: AUDCHF, AUDEUR, AUDGBP, AUDJPY, AUDNZD, AUDUSD
If Counter currency is seleted and e.g. AUDCAD is displayed in the main window, then the correlation window will compare AUDCAD to: CHFCAD, EURCAD, GBPCAD, JPYCAD, NZDCAD, USDCAD
Many of the above currency pairs are not real pairs. But they are availabe in Pine script to enable e.g. correlation calculations.
The advantage is that e.g. the comparison between AUDCAD and EURAUD will give a positive correlation, if AUD is gaining in strenght and EUR and CAD are not changing in strenght.
Eventhough price is moving in the opposite direction the correlation is positive in the AUDCAD vs EURAUD example.
Currency Strength, displays lines for currency pair onlyThis currency strength indicator displays the strength for the displayed currency pair only.
The following currencies are supported: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD
Base currency is indicated by a blue line. Counter currency by a green line.
Double click on a line to open the settings window to change line colors or the possition of the dashed lines.
Covengers Ichimoku Cloud Easy 0.1
This is Covengers Ichimoku Cloud's EASY VERSION.
This is for you who don't know about Ichimoku,
to describe "Time tiktok & Price tiktok Trading".
☆Time tiktok & Price tiktok Trading☆
IF 1. DON'T CARE ABOUT LOWEST PRICE.
IF 2. DON'T CARD ABOUT HIGHER PRICE.
BUY IF 1. IS "CLOSE" BROKE THROUGH BASE LINE?
BUY IF 2. IS "CLOSE " SUPPORTED BY BASE LINE?
-> THEN BUY !
At this time, Base line should be STOP LOSS line.
SELL IF 1. IS "CLOSE" BROKE THROUGH BASE LINE?
SELL IF 2. IS "CLOSE" RESISTED BY BASE LINE?
SELL IF 3. IS "CLOSE" BROKE THROUGH ICHIMOKU CLOUD?
-> THEN SELL !
Buy conservatively, Sell aggressively.
"less LOSS" better than "much PROFIT"
-
Covengers Ichimoku Cloud의 EASY 버전입니다.
차트를 하나도 모르는 당신에게
임운자재를 설명하기 위해 만들었습니다.
☆임운자재 매매법☆
절대 조건 1. 바닥에는 관심을 두지 않는다.
절대 조건 2. 천장에는 관심을 두지 않는다.
매수 조건 1. 종가가 기준선을 돌파하였는가?
매수 조건 2. 종가가 기준선의 지지를 받는가?
-> 매수
이 때, 손절라인은 기준선이 된다.
매도 조건 1. 종가가 기준선을 돌파하였는가?
-> 매도
매도 조건 2. 종가가 기준선의 저항을 받는가?
-> 매도
매도 조건 3. 종가가 구름대를 돌파하였는가?
-> 매도
매수는 보수적으로, 매도는 공격적으로.
많이 따는 것보다, 잃지 않는 것이 중요하다.
Guerrilla AdvancedThis indicator was designed with people without Pro License in mind (Including many of my close friends).
Basically, you will get a combo of few different tools in one box, with ability to turn them on and off with a single check mark, also, you have total control over the input numbers that was used in calculations if you so want to, for example, sometimes when i see a massive bullish up trend, i reduce the short rally from 12 to 8 even 6 to get faster signal for selling the trend.
So, what will you get in this pack?
1- Ichimoko. Yes, you heard it right, although we have it in the default tools but hey, it will use one indicator slot and if you don't have a pro license, you will use that slot
2- Rally. This is an old yet very powerful system for getting buy or sell signals, basically, you get two lines and for making the life easier i draw a cloud between them. when the trend passes above the cloud and it was bellow it in past, right after the very first candle that gets above the cloud you can put the buy order, and vice versa, the moment a candle body enters the cloud, if you want an aggressive signal, you can sell, if not, you may want to wait to see if the candles drop bellow the cloud or not then decide.
3- Resistance Support Cloud. Most of us always heard about resistance and support "lines" but many of us don't know that, in each trend, the trend line itself is a resistance or support line, and when you are going in a bullish or bearish tunnel, the floor and roof of tunnels are again resistance and supports, using this part of the tool, just like rally, you get a cloud that shows you the resistance / support "zone"
4- William Fractals. To be honest, I got this part of the code from another source available around. Why? looking at those fractal indicators, you can easily eyeball the trend line or existence of a tunnel.
5- Different EMA lines. If you are one of those people that use EMA lines for their trading, have fun with them, there are few different standard ones and even a custom one that you can put your desired number for it.
Wave Channel 3D Wave Channel 3D
Built by Ricardo idea from JR & Aloakdutt from indieTrades Jan. 2010
This indicator is very easy to build. We utilize Moving Averages with a set multiplier and an offset. Specially we try to use Fibonacci sequence series numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144...) as time space and multiplier (default 89, 8). Also included is Donchian Channel to locate strong trends and possible future support - resistance.
Examples of support/resistance on chart.
Dominant Price Trends
Future Support Resistance
Comparing Fibonacci Series Time Space - Multiplier
When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example uses DC
When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example without DC / Smooth MA
