Position Size CalculatorThe Position Size Calculator (PSC) is a comprehensive tool designed to assist traders in managing their trades risk by accurately calculating the optimal position size based on account settings, trade levels, and risk management parameters. This indicator helps traders make informed decisions by providing critical information about potential profit and loss , risk-reward ratio (RRR) , and position size (PS) .
█ Key Features
• Customizable Account Settings: Define your account size , currency , risk tolerance , and commission structure to personalize the calculations.
• Real-Time Trade Levels: Easily input your entry , stop loss , and take profit prices directly on the chart for immediate calculations.
• Visual Indicators: Clearly see your entry, stop loss, and take profit levels with customizable colors and labels.
• Comprehensive Position Information: View detailed information about your position, including potential profit and loss , risk-reward ratio , and position size .
• Currency Conversion: Automatically convert prices to your account currency, making it easy to manage trades in different markets.
• Hide Metrics : Choose which metrics to display to avoid emotional influence on your trading decisions (e.g., hiding PnL).
█ Conclusion
The Position Size Calculator is an essential tool for traders looking to optimize their trading strategies and manage risk effectively . By providing detailed calculations and visual indicators, this tool helps you make informed decisions, improving your overall trading performance.
█ Important
• Ensure that your stop loss and take profit levels are correctly set relative to your entry price to avoid errors.
• The default commission setting considers both entry and exit commissions. Adjust accordingly if only one commission is applicable.
Consider using this tool to manage every trade risk correctly and prevent significant drawdowns.
Hope you like it. Happy trading!
Cari dalam skrip untuk "take profit"
CoT Trend Change MomentumI discovered that whenever there's huge change in long IO or short IO there will be a momentum shift. So, I created this indicator to spot massive explosive volume changes for commercials and non commercials activity. Using standard deviation 2 and -2 as extreme point. Whatever crossing above standard deviation 2 indicating positions are added regardless whether it is long or shorts, whatever crossing below standard deviation -2 means positions are closed.
This is how I use this indicator:
1) In this example , i use only the commercials long and shorts. Whenever the longs exceed stdeviation +2, means that long volume flow in massively, for me this can be indicating potential to the upside. Whenever longs fall below stdeviation-2, for me this can be indicating that commercials are either taking profits for the short positions or accumulating for another bull price.
2) For shorts same logic applied here, when it exceeds stdeviation +2, mean commercials shorts position increase massively, when it exceeds stdeviation-2, means that commercials closed their short positions.
For this script, I use 13 weeks period as lookback, u guys may directly modify the period in the script to set the period that u want.
I've added for non-commercials as well, to ease people who emphasizes on non-commercials positioning analysis process.
I'm still trying to incorporate this with Open Interest Analysis. Hopefully u guys find this indicator useful. Feel free to modify it, to understand it more, my suggestions are u compare date by date the positions, to see the extreme points. The indicator only works in weekly chart, it is non repainted only in weekly chart, meaning that the indicator shows the histogram just as the week open.
Curved Smart Money Concepts Probability (Zeiierman)█ Overview
The Curved Smart Money Concepts Probability indicator, developed by Zeiierman, is a sophisticated trading tool designed to leverage the principles of Smart Money trading. This indicator identifies key market structure points and adapts to changing market conditions, providing traders with actionable insights into market trends and potential reversals. The trading tool stands out due to its unique curved structure and advanced probability features, which enhance its effectiveness and usability for traders.
█ How It Works
The indicator operates by analyzing market data to identify pivotal moments where institutional investors might be influencing price movements. It employs a combination of adaptive trend lengths, multipliers for sensitivity adjustments, and pivot periods to accurately capture market structure shifts. The indicator calculates upper and lower bands based on adaptive sizes and identifies zones of overbought (premium) and oversold (discount) conditions.
Key Features of Probability Calculations
The Curved Smart Money Concepts Probability indicator integrates sophisticated probability calculations to enhance trading decision-making:
Win/Loss Tracking: The indicator tracks the number of successful (win) and unsuccessful (loss) trades based on the identified market structure points (ChoCH, SMS, BMS). This provides a historical context of the indicator's performance.
Probability Percentages: For each market structure point (ChoCH, SMS, BMS), the indicator calculates the probability of the next move being successful or not. This is presented as a percentage, giving traders a quantifiable measure of confidence in the signals.
Dynamic Adaptation: The probability calculations adapt to market conditions by considering the frequency and success rate of the signals, allowing traders to adjust their strategies based on the indicator’s historical accuracy.
Visual Representation: Probabilities are displayed on the chart, helping traders quickly assess the likelihood of future price movements based on past performance.
Key benefits of the Curved Structure
The Curved Smart Money Concepts Probability indicator features a unique curved structure that offers several advantages over traditional linear structures:
Noise Reduction: The curved structure smooths out short-term market fluctuations, reducing the noise often seen in linear structures. This helps traders focus on the true trend direction rather than getting distracted by minor price movements.
Adaptive Sensitivity: The curved structure adjusts its sensitivity based on market conditions. This means it can effectively capture both short-term and long-term trends by dynamically adapting to changes in market volatility, something linear structures struggle with.
Enhanced Trend Detection: By providing a more gradual transition between market phases, the curved structure helps in identifying trends more accurately. This is particularly useful in volatile markets where linear structures might give false signals due to their rigid nature.
Improved Market Structure Analysis: The curved structure's ability to adapt and smooth out irregularities provides a clearer picture of the overall market structure. This clarity is essential for identifying premium and discount zones, as well as mid-range support and resistance levels, which are crucial for effective ICT Smart Money Trading.
█ Terminology
ChoCH (Change of Character): Indicates a potential reversal in market direction. It is identified when the price breaks a significant high or low, suggesting a shift from a bullish to bearish trend or vice versa.
SMS (Smart Money Shift): Represents the transition phase in market structure where smart money begins accumulating or distributing assets. It typically follows a BMS and indicates the start of a new trend.
BMS (Bullish/Bearish Market Structure): Confirms the trend direction. Bullish Market Structure (BMS) confirms an uptrend, while Bearish Market Structure (BMS) confirms a downtrend. It is characterized by a series of higher highs and higher lows (bullish) or lower highs and lower lows (bearish).
Premium: A zone where the price is considered overbought. It is calculated as the upper range of the current market structure and indicates a potential area for selling or shorting.
Mid Range: The midpoint between the high and low of the market structure. It often acts as a support or resistance level, helping traders identify potential reversal or continuation points.
Discount: A zone where the price is considered oversold. It is calculated as the lower range of the current market structure and indicates a potential area for buying or going long.
█ How to Use
Identifying Trends and Reversals: Traders can use the indicator to identify the overall market trend and potential reversal points. By observing the ChoCH, SMS, and BMS signals, traders can gauge whether the market is transitioning into a new trend or continuing the current trend.
Example Strategies
⚪ Trend Following Strategy:
Identify the current market trend using BMS signals.
Enter a trade in the direction of the trend when the price retraces to the mid-range zone.
Set a stop-loss just below the mid-range (for long trades) or above the mid-range (for short trades).
Take profit in the premium/discount zone or when a ChoCH signal indicates a potential reversal.
⚪ Reversal Strategy:
Wait for a ChoCH signal to identify a potential market reversal.
Enter a trade in the direction of the new trend as indicated by the SMS signal.
Set a stop-loss just beyond the recent high (for short trades) or low (for long trades).
Take profit when the price reaches the premium or discount zone opposite to the entry.
█ Settings
Curved Trend Length: Determines the length of the trend used to calculate the adaptive size of the structure. Adjusting this length allows traders to capture either longer-term trends (for smoother curves) or short-term trends (for more reactive curves).
Curved Multiplier: Scales the adjustment factors for the upper and lower bands. Increasing the multiplier widens the bands, reducing sensitivity to price changes. Decreasing it narrows the bands, making the structure more responsive.
Pivot Period: Sets the period for capturing trends. A higher period captures broader trends, while a lower period focuses on short-term trends.
Response Period: Adjusts the structure’s responsiveness. A low value focuses on short-term changes, while a high value smoothens the structure.
Premium/Discount Range: Allows toggling between displaying the active range or previous range to analyze real-time or historical levels.
Structure Candles: Enables the display of curved structure candles on the chart, providing a modified view of price action.
-----------------
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!
EMA Cross Fibonacci Entry with RetracementThe EMA Cross Fibonacci Entry with Retracement is a trading strategy that combines two popular technical analysis tools: Exponential Moving Averages (EMAs) and Fibonacci retracement levels. Here's a brief overview of how this strategy typically works:
### Exponential Moving Averages (EMAs)
1. **EMAs Calculation**: EMAs give more weight to recent price data, making them more responsive to price changes. Commonly used periods for EMAs in this strategy are the 50-period and 200-period EMAs.
2. **EMA Cross**: The strategy looks for a "golden cross" (short-term EMA crosses above the long-term EMA) as a potential buy signal, and a "death cross" (short-term EMA crosses below the long-term EMA) as a potential sell signal.
### Fibonacci Retracement Levels
1. **Fibonacci Retracement**: This tool is used to identify potential support and resistance levels based on the Fibonacci sequence. The key retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%.
2. **Drawing Retracement Levels**: Traders draw Fibonacci retracement levels from a significant peak to a significant trough (or vice versa) to identify potential retracement levels where the price might reverse.
### Combining EMA Cross with Fibonacci Retracement
1. **Identify EMA Cross**: First, traders look for an EMA cross. For example, a golden cross where a shorter EMA (e.g., 50 EMA) crosses above a longer EMA (e.g., 200 EMA) suggests a bullish trend.
2. **Wait for Retracement**: After identifying a cross, traders wait for the price to retrace to a Fibonacci level. The key levels to watch are 38.2%, 50%, and 61.8%.
3. **Entry Point**: The entry point is when the price retraces to a Fibonacci level and shows signs of reversal (e.g., bullish candlestick patterns, support at Fibonacci levels). This is typically when traders enter a long position.
4. **Confirmation with EMA**: Ensure that the EMAs support the trend. For a buy entry, the short-term EMA should remain above the long-term EMA.
### Example of a Bullish Entry
1. **Golden Cross**: 50 EMA crosses above 200 EMA.
2. **Retracement**: Price retraces to the 38.2% Fibonacci level.
3. **Entry Signal**: At the 38.2% level, a bullish candlestick pattern (e.g., hammer) forms, indicating potential support.
4. **Entry Point**: Enter a long position at the close of the bullish candlestick.
### Risk Management
1. **Stop Loss**: Place a stop loss below the next Fibonacci retracement level or below the recent swing low to limit potential losses.
2. **Take Profit**: Set a take profit target based on a risk-reward ratio, previous resistance levels, or further Fibonacci extensions.
### Conclusion
The EMA Cross Fibonacci Entry with Retracement strategy is a systematic approach to identifying entry points in a trending market. By combining the responsiveness of EMAs with the predictive power of Fibonacci retracement levels, traders aim to enter trades at optimal points, increasing their chances of success while managing risk effectively.
Support/Resistance v2 (ML) KmeanKmean with Standard Deviation Channel
1. Description of Kmean
Kmean (or K-means) is a popular clustering algorithm used to divide data into K groups based on their similarity. In the context of financial markets, Kmean can be applied to find the average price values over a specific period, allowing the identification of major trends and levels of support and resistance.
2. Application in Trading
In trading, Kmean is used to smooth out the price series and determine long-term trends. This helps traders make more informed decisions by avoiding noise and short-term fluctuations. Kmean can serve as a baseline around which other analytical tools, such as channels and bands, are constructed.
3. Description of Standard Deviation (stdev)
Standard deviation (stdev) is a statistical measure that indicates how much the values of data deviate from their mean value. In finance, standard deviation is often used to assess price volatility. A high standard deviation indicates strong price fluctuations, while a low standard deviation indicates stable movements.
4. Combining Kmean and Standard Deviation to Predict Short-Term Price Behavior
Combining Kmean and standard deviation creates a powerful tool for analyzing market conditions. Kmean shows the average price trend, while the standard deviation channels demonstrate the boundaries within which the price can fluctuate. This combination helps traders to:
Identify support and resistance levels.
Predict potential price reversals.
Assess risks and set stop-losses and take-profits.
Should you have any questions about code, please reach me at Tradingview directly.
Hope you find this script helpful!
FVG Instantaneous Mitigation Signals [LuxAlgo]The FVG Instantaneous Mitigation Signals indicator detects and highlights "instantaneously" mitigated fair value gaps (FVG), that is FVGs that get mitigated one bar after their creation, returning signals upon mitigation.
Take profit/stop loss areas, as well as a trailing stop loss are also included to complement the signals.
🔶 USAGE
Instantaneous Fair Value Gap mitigation is a new concept introduced in this script and refers to the event of price mitigating a fair value gap one bar after its creation.
The resulting signal sentiment is opposite to the bias of the mitigated fair value gap. As such an instantaneously mitigated bearish FGV results in a bullish signal, while an instantaneously mitigated bullish FGV results in a bearish signal.
Fair value gap areas subject to instantaneous mitigation are highlighted alongside their average level, this level is extended until reached in a direction opposite to the FVG bias and can be used as a potential support/resistance level.
Users can filter out less volatile fair value gaps using the "FVG Width Filter" setting, with higher values highlighting more volatile fair value gaps subject to instantaneous mitigation.
🔹 TP/SL Areas
Users can enable take-profit/stop-loss areas. These are displayed upon a new signal formation, with an area starting from the mitigated FVG area average to this average plus/minus N ATRs, where N is determined by their respective multiplier settings.
Using a higher multiplier will return more distant areas from the price, requiring longer-term variations to be reached.
🔹 Trailing Stop Loss
A trailing-stop loss is included, increasing when the price makes a new higher high or lower low since the trailing has been set. Using a higher trailing stop multiplier will allow its initial position to be further away from the price, reducing its chances of being hit.
The trailing stop can be reset on "Every Signal", whether they are bullish or bearish, or only on an "Inverse Signal", which will reset the trailing when a signal of opposite bias is detected, this will preserve an existing trailing stop when a new signal of the same bias to the present one is detected.
🔶 DETAILS
Fair Value Gaps are ubiquitous to price action traders. These patterns arise when there exists a disparity between supply and demand. The action of price coming back and filling these imbalance areas is referred to as "mitigation" or "rebalancing".
"Instantaneous mitigation" refers to the event of price quickly mitigating a prior fair value gap, which in the case of this script is one bar after their creation. These events are indicative of a market more attentive to imbalances, and more willing to correct disparities in supply and demand.
If the market is particularly sensitive to imbalances correction then these can be excessively corrected, leading to further imbalances, highlighting a potential feedback process.
🔶 SETTINGS
FVG Width Filter: Filter out FVGs with thinner areas from returning a potential signal.
🔹 TP/SL
TP Area: Enable take-profit areas for new signals.
Multiplier: Control the distance from the take profit and the price, with higher values returning more distant TP's.
SL Area: Enable stop-loss areas for new signals.
Multiplier: Control the distance from the stop loss and the price, with higher values returning more distant SL's.
🔹 Trailing Stop
Reset Trailing Stop: Determines when the trailing stop is reset.
Multiplier: Controls the initial position of the trailing stop, with higher values returning more distant trailing stops.
Moving Average Crossover Swing StrategyMoving Average Crossover Swing Strategy
**Overview:**
The basic concept of this strategy is to generate a signal when a faster/shorter length moving average crosses over (for Longs) or crosses under (for Shorts) a medium/longer length moving average. All of which are customizable. This strategy can work on any timeframe, however the daily is the timeframe used for the default settings and screenshots, as it was designed to be a multi-day swing strategy. Once a signal has been confirmed with a candle close, based on user options, the strategy will enter the trade on the open of the next candle.
The crossover strategy is nothing new to trading, but what can make this strategy unique and helpful, is the addition of further confirmation points, ATR based stop loss and take profit targets, optional early exit criteria, customizable to your needs and style, and just about everything visual can be toggled on/off. This strategy is based on a Trend (MA) indicator and a Momentum (MACD) indicator. While a Volume-based indicator is not shown here, one could consider using their favorite from that category to further compliment the signal idea.
It should be noted that depending on the time frame, direction(s) chosen, the signal options, confirmation options, and exit options selected, that a ticker may not produce more than 100 trades on the back test. Depending on your style and frequency, one could consider adjusting options and/or testing multiple tickers. It should also be noted that this strategy simply tests the underlying stock prices, not options contracts. And of course, testing this strategy against historical data does not assume that the same results will occur in future price action.
Shoutout given to Ripster's Clouds Indicator as pieces of that code were taken and modified to create both the Cloud visualization effects, and the Moving Average Pair Plots that are implemented in this strategy.
BASIC DEFAULTS
All can be changed as normal
Initial capital = 10,000
Order Sizing = 25% of equity (use the "Inputs" tab to modify this)
Pyramiding = 0
Commission = 0.65 USD per order
Price Verification = 1 tick
Slippage = 1 tick
RISK MANAGMENT
You will notice two different percentage options and ATR multipliers. This strategy will adjust position sizing by not exceeding either one of those % values based on the ATR (Average True Range) of the symbol and the multipliers selected, should the stock hit the stop loss price.
For Example, lets assume these values are true:
Account size = $10,000,
Max Risk = 1% of account size
Max Position Size = 25% of the account size
Stock Price = 23.45
ATR = 3.5
ATR Stop Loss Multiplier = 1.4
Then the formulas would be:
ACCT_SIZE * MaxRisk_% = 10000 * .01 = $100 (MaxCashRisk)
-----
MaxCashRisk / (ATR * ATR_SL_MULTIPLIER) = 100 / (3.5 * 1.4) = 20.4 Shares based on Max Cash Risk
-----
(ACCT_SIZE * MaxEquity_%) / STOCK_PRICE = (10000 * .25) / 23.45 = 106.61 Shares based on Max Equity Allocation
The minimum value of each of those options is then used, which in this case would be to purchase 20 shares so as not to exceed the max dollar risk should the stock reach the stop loss target. Likewise, if the ATR were to be much lower, say 0.48 cents, and all else the same, then the strategy would purchase the 106 shares based on Max Equity Allocation because the Max Cash Risk would require 149.25 shares.
MOVING AVERAGE OPTIONS
Select between and change the length & type of up to 5 pairs (10 total) of moving averages
The "Show Cloud-x" option will display a fill color between the "a" and "b" pairs
All moving averages lines can be toggled on/off in the "Style" tab, as well as adjusting their colors.
Visualization features do not affect calculations, meaning you could have all or nothing on the chart and the strategy will still produce results
SIGNAL CHOICES
Choose the fast/shorter length MA and the medium/longer length MA to determine the entry signal
CONFIRMATION OPTIONS
Both of these have customizable values and can be toggled on/off
A candle close over a slower/much longer length moving average
An additional cross-over (cross-under for Shorts) on the MACD indicator using default MACD values. While the MACD indicator is not necessary to have on the chart, it can help to add that for visualization. The calculations will perform whether the indicator is on the chart or not.
EARLY EXIT CRITERIA
Both can be toggled on/off with customizable values
MA Cross Exit will exit the trade early if the select moving averages cross-under (for longs) or cross-over (for shorts), indicating a potential reversal.
Max Bars in Trades will act as a last-resort exit by simply calculating the amount of full bars the trade has been open, and exiting on the opening of the next bar. For example: the default value is 8 bars, so after 8 full bars in the trade, if no other exit has been triggered (Stop Loss, Take Profit, or MA Cross(if enabled)), then the trade will exit at the opening of the 9th bar.
Finally, there is a table displaying the amount of trades taken for each side, and the amount & percent of both early exits. This table can be turned off in the "Style" tab
ADDITIONAL PLOTS
MACD (Moving Average Convergence/Divergence):
- The MACD is an optional confirmation indicator for this strategy.
- Plotting the indicator is not necessary for the strategy to work, but it can be helpful to visually see the status and position of the MACD if this feature is enabled in the strategy
- This helps to identify if there is also momentum behind the entry signal
Simple Risk-to-Reward Multiplier A simple R/R indicator that allows you to input your entry price and stop loss (in ticks). Then, your take profit levels are R-multipliers based on your stop loss. You can have up to 5 take profit levels on your chart. There is also a function to indicate if it is a long or short setup. You can also set alerts with this script, allowing you the ability not to have to stare at the charts all day.
Pure Price Action Structures [LuxAlgo]The Pure Price Action Structures indicator is a pure price action analysis tool designed to automatically identify real-time market structures.
The indicator identifies short-term, intermediate-term, and long-term swing highs and lows, forming the foundation for real-time detection of shifts and breaks in market structure.
Its distinctive/unique feature lies in its reliance solely on price patterns, without being limited by any user-defined input, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE
Market structure is a crucial aspect of understanding price action. The script automatically identifies real-time market structure, enabling traders to comprehend market trends more easily. It assists traders in recognizing both trend changes and continuations.
Market structures are constructed from three sets of swing points, short-term swings, intermediary swings, and long-term swings. Market structures associated with longer-term swing points are indicative of longer-term trends.
A market structure shift (MSS), also known as a change of character (CHoCH), is a significant event in price action analysis that may signal a potential shift in market sentiment or direction. Conversely, a break of structure (BOS) is another significant event in price action analysis that typically indicates a continuation of the prevailing trend.
However, it's important to note that while an MSS can be the first indication of a trend reversal and a BOS signifies a continuation of the prevailing trend, they do not guarantee a complete reversal or continuation of the trend.
In some cases, MSS and BOS levels may also act as liquidity zones or areas of price consolidation, rather than indicating a definitive change in market direction or continuation. Traders should approach them with caution and consider additional factors to confirm the validity of the signal before making trading decisions.
🔶 DETAILS
🔹 Market Structures
Market structures are based on the analysis of price action and aim to identify key levels and patterns in the market, where swing point detection is one of the core concepts within ICT trading methodologies and teachings.
Swing points are automatically detected solely based on market movements, without any reliance on user-defined input.
🔹 Utilizing Swing Points
Swing points are not identified in real time as they occur. While short-term swing points may be displayed with a delay of at most one bar, the identification of intermediate and long-term swing points depends entirely on market movements. Furthermore, detection is not limited by any user-defined input but relies solely on pure price action. Consequently, swing points are not typically utilized in real-time trading scenarios.
Traders often analyze historical swing points to discern market trends and pinpoint potential entry and exit points for their trades. By identifying swing highs and lows, traders can:
Recognize Trends: Swing highs and lows help traders identify the direction of the trend. Higher swing highs and higher swing lows indicate an uptrend, while lower swing highs and lower swing lows indicate a downtrend.
Identify Support and Resistance Levels: Swing highs often serve as resistance levels, known in ICT terminology as Buyside Liquidity Levels, while swing lows function as support levels, also referred to in ICT terminology as Sellside Liquidity Levels. Traders can utilize these levels to strategize entry and exit points for their trades.
Spot Reversal Patterns: Swing points can form various reversal patterns, such as double tops or bottoms, head and shoulders patterns, and triangles. Recognizing these patterns can signal potential trend reversals, allowing traders to adjust their strategies accordingly.
Set Stop Loss and Take Profit Levels: In the context of ICT teachings, swing levels represent specific price levels where a concentration of buy or sell orders is anticipated. Traders can target these liquidity levels/pools to accumulate or distribute their positions, essentially using swing points to establish stop loss and take profit levels for their trades.
Overall, swing points provide valuable information about market dynamics and can assist traders in making more informed trading decisions.
🔶 SETTINGS
🔹 Structures
Swings and Size: Toggles the visibility of the structure's highs and lows, assigns an icon corresponding to the structures, and controls the size of the icons.
Market Structures: Toggles the visibility of the market structures.
Market Structure Labels: Controls the visibility of labels that highlight the type of market structure.
Line Style and Width: Customizes the style and width of the lines representing the market structure.
Swing and Line Colors: Customizes colors for the icons representing highs and lows, and the lines and labels representing the market structure.
🔶 RELATED SCRIPTS
Market-Structures-(Intrabar).
Buyside-Sellside-Liquidity.
Filtered MACD with Backtest [UAlgo]The "Filtered MACD with Backtest " indicator is an advanced trading tool designed for the TradingView platform. It combines the Moving Average Convergence Divergence (MACD) with additional filters such as Moving Average (MA) and Average Directional Index (ADX) to enhance trading signals. This indicator aims to provide more reliable entry and exit points by filtering out noise and confirming trends. Additionally, it includes a comprehensive backtesting module to simulate trading strategies and assess their performance based on historical data. The visual backtest module allows traders to see potential trades directly on the chart, making it easier to evaluate the effectiveness of the strategy.
🔶 Customizable Parameters :
Price Source Selection: Users can choose their preferred price source for calculations, providing flexibility in analysis.
Filter Parameters:
MA Filter: Option to use a Moving Average filter with types such as EMA, SMA, WMA, RMA, and VWMA, and a customizable length.
ADX Filter: Option to use an ADX filter with adjustable length and threshold to determine trend strength.
MACD Parameters: Customizable fast length, slow length, and signal smoothing for the MACD indicator.
Backtest Module:
Entry Type: Supports "Buy and Sell", "Buy", and "Sell" strategies.
Stop Loss Types: Choose from ATR-based, fixed point, or X bar high/low stop loss methods.
Reward to Risk Ratio: Set the desired take profit level relative to the stop loss.
Backtest Visuals: Display entry, stop loss, and take profit levels directly on the chart with
colored backgrounds.
Alerts: Configurable alerts for buy and sell signals.
🔶 Filtered MACD : Understanding How Filters Work with ADX and MA
ADX Filter:
The Average Directional Index (ADX) measures the strength of a trend. The script calculates ADX using the user-defined length and applies a threshold value.
Trading Signals with ADX Filter:
Buy Signal: A regular MACD buy signal (crossover of MACD line above the signal line) is only considered valid if the ADX is above the set threshold. This suggests a stronger uptrend to potentially capitalize on.
Sell Signal: Conversely, a regular MACD sell signal (crossunder of MACD line below the signal line) is only considered valid if the ADX is above the threshold, indicating a stronger downtrend for potential shorting opportunities.
Benefits: The ADX filter helps avoid whipsaws or false signals that might occur during choppy market conditions with weak trends.
MA Filter:
You can choose from various Moving Average (MA) types (EMA, SMA, WMA, RMA, VWMA) for the filter. The script calculates the chosen MA based on the user-defined length.
Trading Signals with MA Filter:
Buy Signal: A regular MACD buy signal is only considered valid if the closing price is above the MA value. This suggests a potential uptrend confirmed by the price action staying above the moving average.
Sell Signal: Conversely, a regular MACD sell signal is only considered valid if the closing price is below the MA value. This suggests a potential downtrend confirmed by the price action staying below the moving average.
Benefits: The MA filter helps identify potential trend continuation opportunities by ensuring the price aligns with the chosen moving average direction.
Combining Filters:
You can choose to use either the ADX filter, the MA filter, or both depending on your strategy preference. Using both filters adds an extra layer of confirmation for your signals.
🔶 Backtesting Module
The backtesting module in this script allows you to visually assess how the filtered MACD strategy would have performed on historical data. Here's a deeper dive into its features:
Backtesting Type: You can choose to backtest for buy signals only, sell signals only, or both. This allows you to analyze the strategy's effectiveness in different market conditions.
Stop-Loss Types: You can define how stop-loss orders are placed:
ATR (Average True Range): This uses a volatility measure (ATR) multiplied by a user-defined factor to set the stop-loss level.
Fixed Point: This allows you to specify a fixed dollar amount or percentage value as the stop-loss.
X bar High/Low: This sets the stop-loss at a certain number of bars (defined by the user) above/below the bar's high (for long positions) or low (for short positions).
Reward-to-Risk Ratio: Define the desired ratio between your potential profit and potential loss on each trade. The backtesting module will calculate take-profit levels based on this ratio and the stop-loss placement.
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Candle Range Detector [UAlgo]The "Candle Range Detector " is a Pine Script™ indicator designed to identify trading opportunities based on the concept of price consolidation and breakout. It analyzes the price range of a specified number of previous candles and detects when subsequent candles stay within that range (consolidation). The indicator then highlights potential breakouts above or below the range and provides calculated Take Profit (TP) and Stop Loss (SL) levels based on your chosen method (percentage or Average True Range - ATR).
🔶 Key Features
Configurable Range: Define the minimum number of candles required to establish a valid price range.
Breakout Detection: Identify potential breakouts above or below the established range based on your selection (close price or wick).
Take Profit & Stop Loss Levels: The indicator calculates TP and SL levels based on your chosen method (percentage or ATR) and user-defined multipliers. The calculated TP and SL levels are visualized as horizontal lines with corresponding labels ("Take Profit" and "Stop Loss").
Optional Count Display: You can choose to display the number of candles currently within the range.
🔶 Disclaimer:
Not Financial Advice: This indicator is intended for educational and informational purposes only. It does not constitute financial advice or recommendations to buy, sell, or hold any financial instruments.
Use at Own Risk: Trading involves substantial risk of loss and is not suitable for all investors. Users of this indicator should exercise caution and conduct their own research and analysis before making any trading decisions.
Performance Not Guaranteed: Past performance is not indicative of future results. While the indicator aims to assist traders in analyzing market trends, there is no guarantee of accuracy or success in trading operations.
🔷 Related Scripts
Range Finder
FVG Positioning Average with 200EMA Auto Trading [Pakun]Description
Strategy Name and Purpose
FVG Positioning Average with 200EMA Auto Trading
This strategy uses Fair Value Gaps (FVG) combined with a 200-period Exponential Moving Average (EMA) and Average True Range (ATR) to generate trend-based trading signals. It is designed to help traders identify high-probability entry points by leveraging the gaps between fair value prices and current market prices.
Originality and Usefulness
This script combines multiple indicators to create a cohesive trading strategy that is greater than the sum of its parts. While FVG is a powerful tool on its own, combining it with the EMA and ATR adds layers of confirmation and risk management, enhancing its effectiveness. Here’s how the components work together:
Fair Value Gap (FVG): Identifies gaps in the market where price action has not fully filled, indicating potential reversal or continuation points.
200-period Exponential Moving Average (EMA): Acts as a trend filter to ensure trades are taken in the direction of the overall trend, improving the probability of success.
Average True Range (ATR): Used to filter out insignificant gaps and set dynamic stop-loss levels based on market volatility, enhancing risk management.
Entry Conditions
Long Entry
The close price crosses above the downtrend FVG.
The close price, FVG up average, and down average are all above the 200 EMA, indicating a strong bullish trend.
Short Entry
The close price crosses below the uptrend FVG.
The close price, FVG up average, and down average are all below the 200 EMA, indicating a strong bearish trend.
Exit Conditions
For long positions, the stop loss is set at the recent low, and the take profit is set at a point with a risk-reward ratio of 1:1.5.
For short positions, the stop loss is set at the recent high, and the take profit is set at a point with a risk-reward ratio of 1:1.5.
Risk Management
Account Size: 1,000,000 yen
Commission and Slippage: 2 pips commission and 1 pip slippage per trade
Risk per Trade: 10% of account equity
The stop loss is based on the recent low or recent high, ensuring trades are exited when the market moves against the position.
Settings Options
FVG Lookback: Set the lookback period for calculating FVGs.
Lookback Type: Choose the type of lookback (Bar Count or FVG Count).
ATR Multiplier: Set the multiplier for ATR to filter significant gaps.
EMA Period: Set the period for the EMA to adjust the trend filter sensitivity.
Show FVGs on Chart: Choose whether to display FVGs on the chart for visual confirmation.
Bullish/Bearish Color: Set the color for bullish and bearish FVGs to distinguish them easily.
Show Gradient Areas: Choose whether to display gradient areas to highlight the zones of interest.
Sufficient Sample Size
The strategy has been backtested with 113 trades, providing a sufficient sample size to evaluate its performance.
Notes
This strategy is based on historical data and does not guarantee future results.
Thoroughly backtest and validate results before using in live trading.
Market volatility and other external factors can affect performance and may not yield expected results.
Acknowledgment
This strategy uses the FVG Positioning Average Strategy indicator. Thanks to for their contribution.
Clean Chart Explanation
The script is published with a clean chart to ensure that its output is readily identifiable and easy to understand. No other scripts are included on the chart, and any drawings or images used are specifically to illustrate how the script works.
ADX + CCI + MA - Uncle SamStrategy Name: ADX + CCI + MA - Uncle Sam
Overview
This strategy aims to capitalize on trending markets by combining the Average Directional Index (ADX), Commodity Channel Index (CCI), and a customizable Moving Average (MA). It's designed for traders seeking a balanced approach to both long (buy) and short (sell) opportunities. Special thanks to the creators of the ADX and CCI indicators for their invaluable contributions to technical analysis.
Strategy Concept
The core idea is to identify strong trends with the ADX, confirm potential entry points with the CCI, and use the MA to filter trades in the direction of the broader trend. This approach seeks to avoid entering positions during periods of consolidation or when the trend is weak.
Indicator Logic
ADX (Average Directional Index): The ADX measures the strength of a trend, regardless of its direction. A value above the customizable adx_threshold (default 20) signals a strong trend, making it a prime environment for this strategy.
CCI (Commodity Channel Index): The CCI is a momentum oscillator that helps identify overbought (above 100) and oversold (below -100) conditions. We use CCI crossovers to time entries in the direction of the prevailing trend.
MA (Moving Average): The MA acts as a trend filter, ensuring we only enter trades aligned with the overall market direction. You have flexibility in choosing the MA type (SMA, EMA, etc.) and its length to suit your trading style and timeframe.
Entry Conditions
Long (Buy):
ADX is above the adx_threshold.
CCI crosses above 100.
Price is above the chosen Moving Average (if MA trend filtering is enabled).
Short (Sell):
ADX is above the adx_threshold.
CCI crosses below -100.
Price is below the chosen Moving Average (if MA trend filtering is enabled).
Exit Conditions
Stop Loss (SL): Each position has a customizable stop-loss percentage to manage risk. The default setting is 1%.
Take Profit (TP): Each position has a customizable take-profit percentage to secure gains. The default setting is 5%.
MA-Based Risk Management (Optional): This feature allows for early exits if the price closes against the MA trend for a specified number of candles. The default setting is 2 candles.
Default Settings
CCI Period: 15
ADX Length: 10
ADX Threshold: 20
MA Type: HMA
MA Length: 200
MA Source: Close
Commission Fee: $0.0
A commission fee is not added, add your trading/platform commission for realistic trading costs.
Backtest Results
The strategy has been backtested on with the default settings and a starting capital of $1000, with 0.0% commission fee. It shows promising results.
Disclaimer: Backtesting is hypothetical and does not guarantee future performance.
Important Considerations:
Customization: The strategy offers extensive customization to tailor it to your preferences. Experiment with different parameters and settings to find what works best for your trading style.
Risk Management: Always use proper risk management techniques, including position sizing and stop losses, to protect your capital.
TSI w SuperTrend decision - Strategy [presentTrading]This strategy aims to improve upon the performance of Traidngview's newly published "Trend Strength Index" indicator by incorporating the SuperTrend for better trade execution and risk management. Enjoy :)
█ Introduction and How it is Different
The "TSI with SuperTrend Decision - Strategy" combines the Trend Strength Index (TSI) with SuperTrend indicators to determine entry and exit points. Unlike traditional strategies that rely solely on one indicator, this method leverages the strengths of both TSI and SuperTrend to provide a more nuanced and adaptive trading strategy.
This dual approach allows for capturing trends more effectively, especially in volatile markets.
BTCUSD 8h LS Performance
█ Strategy, How it Works: Detailed Explanation
🔶 Trend Strength Index (TSI)
The TSI is a momentum oscillator that shows both the direction and strength of a trend. It is calculated by comparing the price movement with the bar index over a specified period. The formula for TSI is as follows:
```
TSI = (PC / |PC|)
where:
PC = Change in price over the period
```
In this strategy, TSI is calculated using the closing prices and a default period of 64 bars. The TSI values help identify overbought and oversold conditions, providing signals for potential market reversals.
🔶 SuperTrend Indicator
The SuperTrend is a trend-following indicator based on the average true range (ATR). It helps in identifying the direction of the market trend. The SuperTrend calculation involves:
```
SuperTrend = HLC3 ± (Factor * ATR)
where:
HLC3 = (High + Low + Close) / 3
Factor = User-defined multiplier
ATR = Average True Range over a period
```
The SuperTrend settings in this strategy include a length of 10 bars and a factor of 3.0.
Last Bull Cycle of BTC
🔶 Entry and Exit Conditions
The strategy uses the TSI and SuperTrend together to determine entry and exit points:
- Long Entry: When the SuperTrend indicates a downward trend (st.d < 0) and the TSI is above the oversold level (-0.241).
- Long Exit: When the SuperTrend indicates an upward trend (st.d > 0) and the TSI is below the overbought level (0.241).
- Short Entry: When the SuperTrend indicates an upward trend (st.d > 0) and the TSI is below the overbought level (0.241).
- Short Exit: When the SuperTrend indicates a downward trend (st.d < 0) and the TSI is above the oversold level (-0.241).
█ Trade Direction
The strategy allows users to select the trade direction through the `tradeDirection` input. The options are:
- Both: Enables both long and short trades.
- Long: Enables only long trades.
- Short: Enables only short trades.
█ Default Settings
- TSI Length: 64
- SuperTrend Length: 10
- SuperTrend Factor: 3.0
- Trade Direction: Both
- Take Profit (%): 30.0
- Stop Loss (%): 20.0
Impact of Default Settings
- TSI Length: A longer TSI period smooths out noise but may lag in identifying trends. A shorter period is more responsive but can generate false signals.
- SuperTrend Length: A shorter length provides quicker signals but can be prone to whipsaws. A longer length is more reliable but may delay entries and exits.
- SuperTrend Factor: A higher factor increases the distance of the SuperTrend from the price, reducing sensitivity to minor price fluctuations.
- Trade Direction: Allows flexibility in trading strategies by enabling both long and short trades based on market conditions.
- Take Profit and Stop Loss: These settings manage risk by automatically closing trades at predefined profit or loss levels. Higher percentages provide larger potential gains but also higher risk.
Scalping System by Machine# Custom Trading System Indicator
This Pine Script indicator is designed to identify potential trading setups based on a specific set of rules. It's intended for use on lower timeframes (M1-M5) in the forex market, particularly during the New York-London overlap period.
## Key Features
1. **EMA Condition**: Uses a 20-period Exponential Moving Average (EMA) to determine trend direction.
2. **Candle Analysis**: Identifies strong bars and candle color changes.
3. **Volume Confirmation**: Checks for increasing volume.
4. **Volatility Filter**: Utilizes the Average True Range (ATR) to gauge market volatility.
5. **Time-based Filter**: Highlights the New York-London overlap period.
6. **Visual Aids**: Plots potential entry points, stop losses, and take profit levels.
## Trading Rules
1. **Buy Signal**:
- Price is above the 20 EMA
- Candle color changes from red to green
- Current candle is a strong bar (closing within 75% of its range)
- Volume is higher than the previous bar
- ATR(14) is above 4 pips OR it's during the NY-London overlap
2. **Sell Signal**:
- Price is below the 20 EMA
- Candle color changes from green to red
- Current candle is a strong bar (closing within 75% of its range)
- Volume is higher than the previous bar
- ATR(14) is above 4 pips OR it's during the NY-London overlap
3. **Stop Loss**: Placed near the low of the setup candle for buys, or near the high for sells.
4. **Take Profit**: Aimed at 1R (one times the range of the setup candle).
## Visual Elements
- **20 EMA**: Plotted as a blue line on the chart.
- **Buy Signals**: Green triangles below the candles.
- **Sell Signals**: Red triangles above the candles.
- **Stop Loss Levels**: Small red dots at the calculated stop loss prices.
- **Take Profit Levels**: Small green dots at the calculated take profit prices.
- **Information Table**: Displays current values for ATR, strong bar condition and volume condition.
## Usage Notes
1. This indicator is designed for manual trading, not automated execution.
2. It works best when combined with analysis of major trend lines, support, and resistance levels.
3. Exercise caution with very large setup candles.
4. Consider additional filters or money management rules for enhanced performance.
5. For higher timeframe bias validation, consider incorporating a 100-period break of structure (BOS) analysis.
## Customization
The indicator includes several input parameters that can be adjusted:
- EMA Length
- ATR Length and Threshold
- Volume Multiplier
- Strong Bar Percentage
Users can also toggle the visibility of stop loss and take profit markers.
Remember, while this indicator can identify potential setups, it should be used in conjunction with other forms of analysis and risk management strategies. Always consider the overall market context and your personal risk tolerance when making trading decisions.
ICT Turtle Soup | Flux Charts💎 GENERAL OVERVIEW
Introducing our new ICT Turtle Soup Indicator! This indicator is built around the ICT "Turtle Soup" model. The strategy has 5 steps for execution which are described in this write-up. For more information about the process, check the "HOW DOES IT WORK" section.
Features of the new ICT Turtle Soup Indicator :
Implementation of ICT's Turtle Soup Strategy
Adaptive Entry Method
Customizable Execution Settings
Customizable Backtesting Dashboard
Alerts for Buy, Sell, TP & SL Signals
📌 HOW DOES IT WORK ?
The ICT Turtle Soup strategy may have different implementations depending on the selected method of the trader. This indicator's implementation is described as :
1. Mark higher timerame liquidity zones.
Liquidity zones are where a lot of market orders sit in the chart. They are usually formed from the long / short position holders' "liquidity" levels. There are various ways to find them, most common one being drawing them on the latest high & low pivot points in the chart, which this indicator does.
2. Mark current timeframe market structure.
The market structure is the current flow of the market. It tells you if the market is trending right now, and the way it's trending towards. It's formed from swing higs, swing lows and support / resistance levels.
3. Wait for market to make a liquidity grab on the higher timeframe liquidity zone.
A liquidity grab is when the marked liquidity zones have a false breakout, which means that it gets broken for a brief amount of time, but then price falls back to it's previous position.
4. Buyside liquidity grabs are "Short" entries and Sellside liquidity grabs are "Long" entries by default.
5. Wait for the market-structure shift in the current timeframe for entry confirmation.
A market-structure shift happens when the current market structure changes, usually when a new swing high / swing low is formed. This indicator uses it as a confirmation for position entry as it gives an insight of the new trend of the market.
6. Place Take-Profit and Stop-Loss levels according to the risk ratio.
This indicator uses "Average True Range" when placing the stop-loss & take-profit levels. Average True Range calculates the average size of a candle and the indicator places the stop-loss level using ATR times the risk setting determined by the user, then places the take-profit level trying to keep a minimum of 1:1 risk-reward ratio.
This indicator follows these steps and inform you step by step by plotting them in your chart.
🚩UNIQUENESS
This indicator is an all-in-one suit for the ICT's Turtle Soup concept. It's capable of plotting the strategy, giving signals, a backtesting dashboard and alerts feature. It's designed for simplyfing a rather complex strategy, helping you to execute it with clean signals. The backtesting dashboard allows you to see how your settings perform in the current ticker. You can also set up alerts to get informed when the strategy is executable for different tickers.
⚙️SETTINGS
1. General Configuration
MSS Swing Length -> The swing length when finding liquidity zones for market structure-shift detection.
Higher Timeframe -> The higher timeframe to look for liquidity grabs. This timeframe setting must be higher than the current chart's timeframe for the indicator to work.
Breakout Method -> If "Wick" is selected, a bar wick will be enough to confirm a market structure-shift. If "Close" is selected, the bar must close above / below the liquidity zone to confirm a market structure-shift.
Entry Method ->
"Classic" : Works as described on the "HOW DOES IT WORK" section.
"Adaptive" : When "Adaptive" is selected, the entry conditions may chance depending on the current performance of the indicator. It saves the entry conditions and the performance of the past entries, then for the new entries it checks if it predicted the liquidity grabs correctly with the current setup, if so, continues with the same logic. If not, it changes behaviour to reverse the entries from long / short to short / long.
2. TP / SL
TP / SL Method -> If "Fixed" is selected, you can adjust the TP / SL ratios from the settings below. If "Dynamic" is selected, the TP / SL zones will be auto-determined by the algorithm.
Risk -> The risk you're willing to take if "Dynamic" TP / SL Method is selected. Higher risk usually means a better winrate at the cost of losing more if the strategy fails. This setting is has a crucial effect on the performance of the indicator, as different tickers may have different volatility so the indicator may have increased performance when this setting is correctly adjusted.
Market Structure Targets Model [LuxAlgo]The Market Structure Targets Model indicator provides an algorithmic approach to setting targets from market structure shifts (MSS) and market structure breaks (MSB), two popular Smart Money Concept (SMC) concepts. Depending on the target % settings, they can be used as take profit, confirmation levels, or potential reversal points.
🔶 USAGE
Our Market Structure Targets Model scripts provide automated and customizable targets from MSS and MSB. Each displayed target can be used in several ways described in the sub-sections below:
🔹 Take Profit
The targets can be used as take profit levels, where the target distance can be set separately for bullish/bearish MSS/MSB respectively.
🔹 Confirmation Levels
Alternatively, targets can be used as an additional confirmation level of a trend reversal when set at a lower percentage, filtering out fake signals that might be given from market structures. In this way, targets can be used as potential entry levels.
🔹 Potential Reversal Points
In some circumstances, targets being reached can be indicative of trend reversals. The percentage of the targets would be typically set higher to allow for trend exhaustion.
The above examples highlight this usage for bearish reversal scenarios, while the image below highlights it for bullish reversal scenarios.
🔹 Support/Resistance Levels
The targets, being horizontal levels, can also serve as potential support/resistances, with breakouts potentially confirming new trends. It is important to remain observant of the market structure. An MSS or MSB in the opposite direction provides essential information to be included in future decisions.
Using multiple timeframes can help detect longer-term trends. Depending on the user's preference, they can choose the appropriate timeframe for their needs.
Note that Target lines will only be drawn when the Target Level exceeds the close value when it is drawn.
🔹 Maximum Target Duration
The Maximum Target Duration setting removes unreached target levels when the amount of bars since the associated market structure of that target exceeds the user set limit. This effectively allows the removal of any target that might no longer be relevant to newer trends.
🔹 Type: Switch/Hold
This setting is another way to control unreached target levels.
Switch: When a new MSS/MSB is found, the previous target level associated with a market structure with the same direction (bullish/bearish) is deleted if it hasn't been reached.
Hold: Target levels are retained and continuously evaluated when a new MSS/MSB is formed.
The target level will be removed in both cases when the Maximum Target Duration condition is applied.
The above example shows the case when the Type setting is set to Switch , while in the example below, it is set to Hold .
🔶 DETAILS
🔹 Market Structure
Market structures are commonly classified as follows:
Market Structure Shift (MSS), also referred to as Change of Character (CHoCH)
Market Structure Break (MSB), also referred to as Break of Structure (BOS)
MSS indicates a shift in the market trend, confirming trend reversals. Conversely, MSB occurs once a trend is already determined, confirming new higher highs/lower lows.
🔹 Targets
A: Highest/lowest between the extremities of the MSS/MSB line
B: Price value of the MSS/MSB line
The distance between A and B is projected on the opposite side of the MSS/MSB line, adjusted with a percentage that can be set by the user. The above example used 100% of the distance between A and B.
The Target Percentage of MSS and MSB can be set separately for bullish or bearish market structures.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Type: the Switch/Hold setting controls unattained target levels
Maximum Target Duration: removes the target lines when the amount of bars since the drawing of the target exceeds the limit and the target has not been reached
🔹 Market Structure Shift (MSS)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
🔹 Market Structure Break (MSB)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
Prometheus Polarized Fractal Efficiency (PFE)This indicator uses market data to calculate Polarized Fractal Efficiency (PFE) on an asset, so traders can have a better idea of which direction it may go.
Users can control the lookback length for the fractal calculation, the lookback length for the Exponential Moving Average (EMA), and whether or not to display lines at the -50 and 50 level, or -25 and 25 level.
Polarized Fractal Efficiency:
The Polarized Fractal Efficiency (PFE) indicator is a value between -100 and 100 with 0 as a midpoint.
A PFE above 0 indicates the asset may trend higher, a PFE below 0 indicates the asset may trend lower.
There are many ways to trade with PFE, the intuitive trend riding as described above, or reversals.
Even when the PFE is above 0, if it gets high enough, it may also be an indication of a reversal. A PFE of 90 - 100, or -100 - -90, may indicate price is ready to revert the other direction. Furthermore, traders already in a position may look to breaks of other levels to be their take profit or stop out spot.
Calculation:
Pi = 100 x (Price - Price )2 + N2 / Summation, j= 0, to N-2 (Price - Price )2 + 1
If Close < Close Pi = -Pi
PFEi = EMA(Pi, M)
Where:
N = period of indicator
M = smoothing period
Citation: www.investopedia.com
Scenarios:
Inputs are (9, 5) and every display option is on.
Trend example
Step 1: A short trade appears as PFE crosses below -25. We reach a safe take profit as PFE crosses below -50. Traders can use these levels to exit as well as enter.
Step 2: On the cross above 25 there is a safe long. As the PFE value breaks 0 a safe, early take profit could be appropriate for this trade. No guarantee we would see 50.
Step 3: Long scenario at break of 25, straight to 50. Simple, straightforward setup.
Step 4: This long results in a stop loss. Once again entry as PFE crosses 25, but as we cross the 0 line it is for a loss.
Step 5: The last trade in this example is reminiscent of step 3. This is a short trade entry at break of 25 and exit at break of 50.
Traders have liberty to use the PFE value to determine spots to enter and exit trades, long or short. 25 and 50 were chosen arbitrarily, values like 10 and 60 may work as well, we encourage traders to use their own discretion along with tools.
Reversal example
Step 1: PFE is around -100, crossing below it at one point! Strong zone for a potential reversal.
Step 2: PFE crosses above 25 adding conviction.
Step 3: Option to exit at 70.
Step 4: Option to exit at 90.
There is no “one size fits all method”, this approach may be more intuitive for some users and is just as feasible as the first.
Longer trend example
Step 1: Using -50 and 50 this time instead of -25 and 25 to be safer on our entries we see a short here. Was a good entry and as the value gets closer to -70 we can safely close.
Step 2: On this candle we see a long for the break of 50. On the next candle we break the 0 line, but because of our safe entry at 50, we could hold this and only stop out at a break of -25. We get close but stay in it and close at 70.
Step 3: Break of 50 for a long once again. This time the break of 0 line occurs as we are in profit, not letting a green trade go red is a golden rule of trading, so an early exit here.
Step 4: Same at step 2, break of 50 to long and stay in it, not stopping out at break of 0 line. The PFE value eventually reaches 70 and there is a good exit.
Quicker Reversal example
Step 1: Notice a close with PFE below -90, enter long for the reversal. Then close for profit when the PFE crosses above 70.
Step 2: When the PFE breaks above 90 we have a short entry. Like the long closing it when it crosses below -70.
Step 3: This step is the same setup as step 2. As PFE breaks above 90 we have a short entry. Closing it when it crosses below -70.
Recap:
Described above are 4 different examples with many different trades. Both trend and reversal trades. The PFE value is an indicator that can be used by traders in many different ways and Prometheus encourages traders to use their own discretion along with tools and not follow indicators blindly.
Options:
Users can control the input for the lookback of the indicator. The default is 9.
The smoothing factor for the EMA is also changeable, default is 5.
Users have options to display lines at -50, -25, 25, and 50.
Long/Short Entry with Customizable TP/SLThis TradingView indicator is designed to help traders visualize potential trade entries along with their corresponding stop-loss (SL) and take-profit (TP) levels. It offers a high degree of customization, allowing users to:
Choose Entry Type: Select whether the anticipated trade is a Long or Short position.
Set Entry Price: Specify the exact price level at which you intend to enter the trade.
Customize TP/SL:
Enable/Disable: Choose whether to include a stop-loss (SL) and up to five take-profit (TP) levels.
Distance: Set the distance (in price points) for each SL and TP level from the entry price.
Add/Update Trade: Clicking the "Add/Update Trade" button will plot the entry line, SL line (if enabled), and TP lines (if enabled) on the chart, along with their corresponding labels. The lines and boxes will start two candles before the current bar and extend into the future.
Reset Trade: Clicking the "Reset Trade" button will clear all the lines, boxes, and labels from the chart, allowing you to start fresh with a new trade idea.
Visual Cues:
The indicator uses color-coded lines and boxes to distinguish between entry, SL, and TP levels.
Labels are provided next to each line, displaying the type of level (e.g., "Entry," "SL," "TP1") and its corresponding price.
Key Features:
Highly Customizable: Tailor the indicator to your specific trading style and risk management preferences.
Visual Clarity: Clearly visualize potential trade setups and their outcomes.
Easy to Use: The intuitive interface makes it simple to add, update, and reset trades.
Flexibility: Supports both long and short positions.
Limitations:
The indicator is designed for visualization and planning purposes only. It does not automatically execute trades.
The simulated "Add Trade" and "Reset Trade" buttons require manual unchecking after each click.
Trend Strength Signals [AlgoAlpha]🌟Introducing the Trend and Strength Signals indicator by AlgoAlpha ! This tool is designed to help you identify trends and gauge market strength with precision and ease. 📈🚀
🛠 Customizable Parameters : Adjust the period, standard deviation multiplier, gauge size, and colors to fit your trading style.
📊 Trend Detection : Visualize trends with clear color-coded signals for uptrends and downtrends.
📈 Strength Gauge : Assess market strength with a dynamic gauge that adapts to the current price action.
🔔 Alerts : Set alerts for bullish and bearish trend crossovers and take profit points to stay ahead of the market.
🎨 Visual Enhancements : Enjoy a clutter-free chart with the integration of plot shapes, color fills, and gradient gauges.
🚀 Quick Guide to Using the Trend and Strength Signals Indicator
Maximize your trading with the Trend and Strength Signals indicator by following these streamlined steps! 🎯✨
🛠 Add the Indicator : Add the indicator to your favorites. Customize settings like period, standard deviation multiplier, and colors to fit your trading style.
📊 Market Analysis : Observe the color-coded candles and gauge to understand market trend direction and strength. Use the alerts for key trading signals.
🔔 Alerts : Enable notifications for trend crossovers and take profit points to catch trading opportunities without constantly monitoring the chart.
⚙️ How it works
This indicator calculates the moving average and standard deviation of the closing price over a customizable period to identify the upper and lower bounds. When the price crosses these bounds, it signals an uptrend or downtrend. The gauge measures market strength by comparing the price to the moving average and scaling it over a customizable range, while the underlying logic uses concepts from the Bollinger Bands, this indicator gives a unique perspective on price behavior through added features and signals derived from it.
Unleash the power of trend and strength analysis with this comprehensive indicator! Happy trading! 🚀📈✨
Multi Timeframe Moving Average Convergence Divergence {DCAquant}Overview
The MTF MACD indicator provides a unique view of MACD (Moving Average Convergence Divergence) and Signal Line dynamics across various timeframes. It calculates the MACD and Signal Line for each selected timeframe and aggregates them for analysis.
Key Features
MACD Calculation
Utilizes standard MACD calculations based on user-defined parameters like fast length, slow length, and signal smoothing.
Determines the difference between the MACD and Signal Line to identify convergence or divergence.
Multiple Timeframe Analysis
Allows users to select up to six different timeframes for analysis, ranging from minutes to days, providing a holistic view of market trends.
Calculates MACD and Signal Line for each timeframe independently.
Aggregated Analysis
Combines MACD and Signal Line values from multiple timeframes to derive a consolidated view.
Optionally applies moving average smoothing to aggregated MACD and Signal Line values for better clarity.
Position Identification
Determines the trading position (Long, Short, or Neutral) based on the relationship between MACD and Signal Line.
Considers the proximity of MACD and Signal Line to identify potential trading opportunities.
Visual Representation
Plots MACD and Signal Line on the price chart for visual analysis.
Utilizes color-coded backgrounds to indicate trading conditions (Long, Short, or Neutral) for quick interpretation.
Dynamic Table Display
Displays trading position alongside graphical indicators (rocket for Long, snowflake for Short, and star for Neutral) in a customizable table.
Offers flexibility in table placement and size for user preference.
How to Use
Parameter Configuration
Adjust parameters like fast length, slow length, and signal smoothing to fine-tune MACD calculations.
Select desired timeframes for analysis based on trading preferences and market conditions.
Interpretation
Monitor the relationship between MACD and Signal Line on the price chart.
Pay attention to color-coded backgrounds and graphical indicators in the table for actionable insights.
Decision Making
Consider entering Long positions when MACD is above the Signal Line and vice versa for Short positions.
Exercise caution during Neutral conditions, as there may be uncertainty in market direction.
Risk Management
Combine MTF MACD analysis with risk management strategies to optimize trade entries and exits.
Set stop-loss and take-profit levels based on individual risk tolerance and market conditions.
Conclusion
The Multi Timeframe Moving Average Convergence Divergence (MTF MACD) indicator offers a robust framework for traders to analyze market trends across multiple timeframes efficiently. By combining MACD insights from various time horizons and presenting them in a clear and actionable format, it empowers traders to make informed decisions and enhance their trading strategies.
Disclaimer
The Multi Timeframe Moving Average Convergence Divergence (MTF MACD) indicator provided here is intended for educational and informational purposes only. Trading in financial markets involves risk, and past performance is not indicative of future results. The use of this indicator does not guarantee profits or prevent losses.
Please be aware that trading decisions should be made based on your own analysis, risk tolerance, and financial situation. It is essential to conduct thorough research and seek advice from qualified financial professionals before engaging in any trading activity.
The MTF MACD indicator is a tool designed to assist traders in analyzing market trends and identifying potential trading opportunities. However, it is not a substitute for sound judgment and prudent risk management.
By using this indicator, you acknowledge that you are solely responsible for your trading decisions, and you agree to indemnify and hold harmless the developer and distributor of this indicator from any losses, damages, or liabilities arising from its use.
Trading in financial markets carries inherent risks, and you should only trade with capital that you can afford to lose. Exercise caution and discretion when implementing trading strategies, and consider seeking independent financial advice if necessary.
Multi Timeframe Relative Strength Index {DCAquant}Overview
The Multi Timeframe Relative Strength Index (MTF RSI) is a powerful technical analysis tool designed to provide insights into market momentum and potential trend reversals across multiple timeframes. Leveraging the Relative Strength Index (RSI) formula, this indicator offers traders a comprehensive view of market sentiment and identifies overbought and oversold conditions.
Key Features
RSI Calculation:
Utilizes the standard RSI calculation formula to measure the magnitude of recent price changes and assess the strength of market trends.
Employs a user-defined length parameter to customize the sensitivity of the RSI calculation based on trading preferences.
Multiple Timeframe Analysis:
Allows traders to analyze RSI values across up to six different timeframes, ranging from minutes to days, providing a holistic perspective on market dynamics.
Calculates RSI values independently for each selected timeframe, enabling comparison and trend identification.
Threshold Levels:
Defines overbought and oversold levels to highlight potential reversal points in market trends.
Offers flexibility in adjusting threshold levels based on individual risk tolerance and trading strategies.
Neutral Zone:
Establishes upper and lower neutral thresholds to identify periods of consolidation or sideways movement in price.
Helps traders distinguish between trending and ranging market conditions for more accurate analysis.
Moving Average Smoothing:
Provides the option to apply moving average smoothing to aggregated RSI values for enhanced clarity and reduced noise.
Enables smoother visualization of RSI trends, facilitating easier interpretation for traders.
Visual Representation:
Plots the aggregated MTF RSI values on the price chart, allowing traders to visually assess market momentum and potential reversal points.
Utilizes color-coded backgrounds to indicate Long, Short, or Neutral conditions for quick identification.
Dynamic Table Display:
Displays trading signals alongside graphical indicators (rocket for Long, snowflake for Short, and star for Neutral) in a customizable table format.
Offers flexibility in table placement and size to accommodate user preferences.
How to Use:
Parameter Configuration:
Adjust the length parameter to fine-tune the sensitivity of the RSI calculation based on the desired timeframe and trading strategy.
Define overbought and oversold levels to identify potential reversal points in market trends.
Customize upper and lower neutral thresholds to differentiate between trending and ranging market conditions.
Interpretation:
Monitor the aggregated MTF RSI values plotted on the price chart for signals of overbought or oversold conditions.
Pay attention to color-coded backgrounds and graphical indicators in the table for actionable trading insights.
Trading Strategy:
Consider entering Long positions when the aggregated MTF RSI is above the upper neutral threshold, indicating potential bullish momentum.
Evaluate Short opportunities when the aggregated MTF RSI falls below the lower neutral threshold, signaling possible bearish momentum.
Exercise caution during Neutral conditions, as there may be uncertainty in market direction.
Risk Management:
Combine MTF RSI analysis with robust risk management strategies, including stop-loss and take-profit levels, to manage trading risks effectively.
Practice prudent risk management and trade within your risk tolerance to minimize potential losses.
Disclaimer
Trading in financial markets involves risk, and past performance is not indicative of future results. The use of the MTF RSI indicator does not guarantee profits or prevent losses. Traders should conduct their own analysis, exercise caution, and seek advice from qualified financial professionals before making trading decisions.
B A N K $ - Advanced Session RangesThis is a simple indicator that has been designed to aid intraday trading and has a few components;
Key Features
Session Ranges + Optimal Exit Time
Asia Pip Range
New York Midnight Open Line
Session Ranges + Optimal Exit Time
Information ℹ️
This is a visual depiction of the 3 main sessions in the markets. Asia, London & New York. The default timings are set to perfectly align with each session however the Start & End times for each session can be changed in the settings. (I've added a website on the tooltip to easily convert timezones)
I have also added a 4th session range called "Optimal Exit Time". This is statistically the most probable time window for the opposite High / Low of Day to form is within this window. It helps the trader understand when they should look to take profit.
How It Works 🔑
The indicator automatically maps on two lines for the High & Low of the range between the selected Start & End time, it also colours the background.
The individual lines & background can be toggled & customised to the traders preference.
Asia Pip Range
Information ℹ️
This displays the Asia Range in pips beneath the Asia Session Low.
How It Works 🔑
This calculates the distance between the Asia High - Asia Low in pips. It will automatically recalibrate to the timings the trader sets in the settings if they change the Start / End.
New York Midnight Open Line
Information ℹ️
This helps look for Buys beneath the line for a Bullish Expansion day 📈 & Sells above the line for a Bearish Expansion day 📉
How It Works 🔑
This adds a horizontal line to the chart that is anchored to New York Midnight Open (00:00) by default. It can be changed in the settings in required. You can also toggle on the time being shown above the line.
