Momentum Matrix (BTC-COIN)The Momentum Matrix (BTC-COIN) indicator analyzes the momentum relationship between Coinbase stock ( NASDAQ:COIN ) and Bitcoin ( CRYPTOCAP:BTC ). By combining RSI, correlation, and dominance metrics, it identifies bullish and bearish macro trends to align trades with market momentum.
How It Works
Price Inputs: Pulls weekly price data for CRYPTOCAP:BTC and NASDAQ:COIN for macro analysis.
Metrics Calculated:
• RSI Divergence: Measures momentum differences between CRYPTOCAP:BTC and $COIN.
• Price Ratio: Tracks the $COIN/ CRYPTOCAP:BTC relationship relative to its long-term average (SMA).
• Correlation: Analyzes price co-movement between CRYPTOCAP:BTC and $COIN.
• Dominance Impact: Incorporates CRYPTOCAP:BTC dominance for broader crypto trends.
Composite Momentum Score: Combines these metrics into a smoothed macro momentum value.
Thresholds for Trend Detection: Upper and lower thresholds dynamically adapt to market conditions.
Signals and Visualization:
• Buy Signal: Momentum exceeds the upper threshold, indicating bullish trends.
• Sell Signal: Momentum falls below the lower threshold, indicating bearish trends.
• Background Colors: Green (bullish), Red (bearish).
Strengths
Integrates multiple metrics for robust macro analysis.
Dynamic thresholds adapt to market conditions.
Effective for identifying macro momentum shifts.
Limitations
Lag in high volatility due to smoothing.
Less effective in choppy, sideways markets.
Assumes CRYPTOCAP:BTC dominance drives NASDAQ:COIN momentum, which may not always hold true.
Improvements
Multi-Timeframe Analysis: Add daily or monthly data for precision.
Volume Filters: Include volume thresholds for signal validation.
Additional Metrics: Consider MACD or Stochastics for further confirmation.
Complementary Tools
Volume Indicators: OBV or cumulative delta for confirmation.
Trend-Following Systems: Pair with moving averages for timing.
Market Breadth Metrics: Combine with CRYPTOCAP:BTC dominance trends for context.
Cari dalam skrip untuk "weekly"
Market MonitorOverview
The Market Monitor Indicator provides a customisable view of dynamic percentage changes across selected indices or sectors, calculated by comparing current and previous closing prices over the chosen timeframe.
Key Features
Choose up to 20 predefined indices or your own selected indices/stocks.
Use checkboxes to show or hide individual entries.
Monitor returns over daily, weekly, monthly, quarterly, half-yearly, or yearly timeframes
Sort by returns (descending) to quickly identify top-performing indices or alphabetically for an organised and systematic review.
Customisation
Switch between Light Mode (Blue or Green themes) and Dark Mode for visual clarity.
Adjust the table’s size, position, and location.
Customise the table title to your own choice e.g. Sectoral, Broad, Portfolio etc.
Use Cases
Use multiple instances of the script with varying timeframes to study sectoral rotation and trends.
Customise the stocks to see your portfolio returns for the day or over the past week, or longer.
US 10Y - US 2Y Spread This script displays the Yield Spread between the 10 Year US Treasury Bond (US10Y) and the 2 Year US Treasury Bond (US02Y) as a blue line beneath the chart. It is best to be used on weekly charts a the yield spread is a leading indicator used for detecting possible recessions within the US economy.
A negative yield spread means the 2 year treasury bonds are paying a higher yield than 10 year treasury bonds indicating a possible slowdown of the US economy. In the past negative yield spreads where often followed by recessions and major corrections of the S&P500... you can see examples for this on the above chart for the Gulf War recession, the DotCom Bubble recession, the great recession due to the US housing market collapse and the short COVID recession.
Currently we are in an extended phase of negative yield spreads and if history repeats itself we could be in for a major correction on the financial markets within the next years.
Multi VWAPThe Multi-VWAP Indicator is a versatile tool designed to plot up to three Volume Weighted Average Price (VWAP) lines simultaneously, each anchored to a user-defined period. This indicator provides traders with a comprehensive view of price action across multiple timeframes, making it ideal for analyzing trends, support, and resistance levels.
Key Features:
Multiple Anchoring Options:
Each VWAP can be independently anchored to one of the following periods:
Session: Resets at the start of each trading day.
Week: Resets at the start of each week.
Month: Resets at the start of each month.
Quarter: Resets at the start of each quarter.
Year: Resets at the start of each year.
User Customization:
Choose the anchoring period for each VWAP line via dropdown menus.
Assign distinct colors to each VWAP for better visual differentiation.
Dynamic Price Source:
The VWAP calculation is based on the average price (hlc3) by default but can be modified by the user to use other price inputs.
Clear Visualization:
Displays three separate VWAP lines simultaneously, helping traders identify confluences or divergences in price action across timeframes.
Use Cases:
Intraday Trading: Use session-anchored VWAP to track intraday trends and mean reversion points.
Swing Trading: Combine weekly and monthly VWAPs to identify longer-term support and resistance levels.
Multi-Timeframe Analysis: Visualize how price interacts with VWAPs from different periods to spot key zones of interest.
This indicator is a powerful tool for traders who want to incorporate VWAP into their strategies while maintaining flexibility to adapt to various market conditions.
Multi-Timeframe Highs and LowsThe "Multi-Timeframe Highs and Lows" indicator is a comprehensive tool designed to plot recent Highs and Lows across multiple timeframes, including 15-Minute, 30-Minute, 1-Hour, 4-Hour, 8-Hour, Daily, Weekly, and Monthly. This indicator provides traders with a clear view of critical support and resistance levels, enabling precise decision-making for entries, exits, and stop-loss placements. It features customizable lookbacks, dynamic line extensions, and advanced label placement logic to prevent overlap, ensuring a clean and clutter-free chart. With fully customizable colors and styles for each timeframe, traders can tailor the indicator to their preferences. Whether you’re a scalper, swing trader, or position trader, this tool adapts to your strategy, providing actionable insights for breakout, reversal, and trend-following setups. Optimized for performance, it handles multiple lines and labels efficiently, making it suitable for high-activity charts. The "Multi-Timeframe Highs and Lows" indicator is an indispensable tool for traders seeking to identify and utilize key price levels across all timeframes with precision and clarity.
Employee Portfolio Generator [By MUQWISHI]▋ INTRODUCTION :
The “Employee Portfolio Generator” simplifies the process of building a long-term investment portfolio tailored for employees seeking to build wealth through investments rather than traditional bank savings. The tool empowers employees to set up recurring deposits at customizable intervals, enabling to make additional purchases in a list of preferred holdings, with the ability to define the purchasing investment weight for each security. The tool serves as a comprehensive solution for tracking portfolio performance, conducting research, and analyzing specific aspects of portfolio investments. The output includes an index value, a table of holdings, and chart plots, providing a deeper understanding of the portfolio's historical movements.
_______________________
▋ OVERVIEW:
● Scenario (The chart above can be taken as an example) :
Let say, in 2010, a newly employed individual committed to saving $1,000 each month. Rather than relying on a traditional savings account, chose to invest the majority of monthly savings in stable well-established stocks. Allocating 30% of monthly saving to AMEX:SPY and another 30% to NASDAQ:QQQ , recognizing these as reliable options for steady growth. Additionally, there was an admired toward innovative business models of NASDAQ:AAPL , NASDAQ:MSFT , NASDAQ:AMZN , and NASDAQ:EBAY , leading to invest 10% in each of those companies. By the end of 2024, after 15 years, the total monthly deposits amounted to $179,000, which would have been the result of traditional saving alone. However, by sticking into long term invest, the value of the portfolio assets grew, reaching nearly $900,000.
_______________________
▋ OUTPUTS:
The table can be displayed in three formats:
1. Portfolio Index Title: displays the index name at the top, and at the bottom, it shows the index value, along with the chart timeframe, e.g., daily change in points and percentage.
2. Specifications: displays the essential information on portfolio performance, including the investment date range, total deposits, free cash, returns, and assets.
3. Holdings: a list of the holding securities inside a table that contains the ticker, last price, entry price, return percentage of the portfolio's total deposits, and latest weighted percentage of the portfolio. Additionally, a tooltip appears when the user passes the cursor over a ticker's cell, showing brief information about the company, such as the company's name, exchange market, country, sector, and industry.
4. Indication of New Deposit: An indication of a new deposit added to the portfolio for additional purchasing.
5. Chart: The portfolio's historical movements can be visualized in a plot, displayed as a bar chart, candlestick chart, or line chart, depending on the preferred format, as shown below.
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▋ INDICATOR SETTINGS:
Section(1): Table Settings
(1) Naming the index.
(2) Table location on the chart and cell size.
(3) Sorting Holdings Table. By securities’ {Return(%) Portfolio, Weight(%) Portfolio, or Ticker Alphabetical} order.
(4) Choose the type of index: {Assets, Return, or Return (%)}, and the plot type for the portfolio index: {Candle, Bar, or Line}.
(5) Positive/Negative colors.
(6) Table Colors (Title, Cell, and Text).
(7) To show/hide any of selected indicator’s components.
Section(2): Recurring Deposit Settings
(1) From DateTime of starting the investment.
(2) To DateTime of ending the investment
(3) The amount of recurring deposit into portfolio and currency.
(4) The frequency of recurring deposits into the portfolio {Weekly, 2-Weeks, Monthly, Quarterly, Yearly}
(5) The Depositing Model:
● Fixed: The amount for recurring deposits remains constant throughout the entire investment period.
● Increased %: The recurring deposit amount increases at the selected frequency and percentage throughout the entire investment period.
(5B) If the user selects “ Depositing Model: Increased % ”, specify the growth model (linear or exponential) and define the rate of increase.
Section(3): Portfolio Holdings
(1) Enable a ticker in the investment portfolio.
(2) The selected deposit frequency weight for a ticker. For example, if the monthly deposit is $1,000 and the selected weight for XYZ stock is 30%, $300 will be used to purchase shares of XYZ stock.
(3) Select up to 6 tickers that the investor is interested in for long-term investment.
Please let me know if you have any questions
COIN/BTC Volume-Weighted DivergenceThe COIN/BTC Volume-Weighted Divergence indicator identifies buy and sell signals by analyzing deviations between Coinbase and Bitcoin prices relative to their respective VWAPs (Volume-Weighted Average Price). This method isolates points of potential trend reversals, overextensions, or relative mispricing based on volume-adjusted price benchmarks.
The indicator leverages Coinbase’s high beta relative to Bitcoin in bull markets. A buy signal occurs when Coinbase is below VWAP (indicating undervaluation) while Bitcoin is above VWAP (signaling strong broader momentum). A sell signal is generated when Coinbase trades above VWAP (indicating overvaluation) while Bitcoin moves below VWAP (indicating weakening momentum).
This divergence logic enables traders to identify misalignment between Bitcoin-driven market trends and Coinbase’s price behavior. The indicator effectively identifies undervalued entry points and signals exits before speculative extensions are correct. It provides a systematic approach to trading during trending conditions, aligning decisions with volume-weighted price dynamics and inter-asset relationships.
How It Works
1. VWAP:
“fair value” benchmark combining price and volume.
• Above VWAP: Bullish momentum.
• Below VWAP: Bearish momentum.
2. Divergence:
• Coinbase Divergence: close - coin_vwap (distance from COIN’s VWAP).
• Bitcoin Divergence: btc_price - btc_vwap (distance from BTC’s VWAP).
3. Signals:
• Buy: Coinbase is below VWAP (potentially oversold), and Bitcoin is above VWAP (broader bullish trend).
• Sell: Coinbase is above VWAP (potentially overbought), and Bitcoin is below VWAP (broader bearish trend).
4. Visualization:
• Green triangle: Buy signal.
• Red triangle: Sell signal.
Strengths
• Combines price and volume for reliable insights.
• Highlights potential trend reversals or overextensions.
• Exploits correlations between Coinbase and Bitcoin.
Limitations
• Struggles in sideways markets.
• Sensitive to volume spikes, which may distort VWAP.
• Ineffective in strong trends where divergence persists.
Improvements
1. Z-Scores: Use statistical thresholds (e.g., ±2 std dev) for stronger signals.
2. Volume Filter: Generate signals only during high-volume periods.
3. Momentum Confirmation: Combine with RSI or MACD for better reliability.
4. Multi-Timeframe VWAP: Use intraday, daily, and weekly VWAPs for deeper analysis.
Complementary Tools
• Momentum Indicators: RSI, MACD for trend validation.
• Volume-Based Metrics: OBV, cumulative delta volume.
• Support/Resistance Levels: Enhance reversal accuracy.
Hilega-Milega-RSI-EMA-WMA indicator designed by NKThis indicator is works on RSI, Price and volume to give leading Indicator to Buy or Sell.
This indicator works on all financial markets
Hilega-Milega-RSI-EMA-WMA indicator designed by Nitish Sir
For intraday trade, enter with 15 mins chart.
For positional trade, enter with 1-hour chart.
For Investment this system can be used with daily/weekly/monthly chart.
• RED line is for Volume.
• Green line is for the Price.
• Black line is for the RSI (9).
SELL Trade
1. When Volume (RED line) is above/crossed above Price (Green line) and Strength (Black line), then stock price will go down. This means we will SELL.
2. When there is a GAP in the RED line and the Green line till the time price will go down.
Exit criteria
Whenever Red line exit the shaded area of Oversold zone OR Red line cross over the Green and black line then we will exit.
In case of the SELL trade, after the entry we will monitor the trade in 5 min chart, if the candle is closed above the VWAP then exit.
If the price is crossed the 50 SMA then we will exit trade.
BUY Trade
1. When Volume (RED line) is below/crossed below Price (Green line) and Strength (Black line), then stock price will go up. This means we will BUY.
2. When there is a GAP in the RED line and the Green line till the time price will go down.
Exit criteria
Whenever Red line exit the shaded area of Overbought zone OR Red line cross over the Green and black line then we will exit.
In case of the Buy trade, after the entry we will monitor the trade candle is closed below the VWAP then exit.
If the price is crossed the 50 SMA then we will exit trade.
VWAP Trend with Standard Deviation & MidlinesThis indicator is a sophisticated VWAP (Volume Weighted Average Price) tool with multiple features:
Core Functionality:
1. Calculates a primary VWAP line that changes color based on trend direction (green when rising, red when falling)
2. Creates multiple standard deviation bands around the VWAP at customizable distances
3. Resets calculations at either:
- New York session start time (configurable, default 9:30 AM)
- Daily start time
- Can be hidden on daily/weekly/monthly timeframes if desired
Band Structure:
- Band 1 (innermost): ±1 standard deviation
- Band 2 (middle): ±2 standard deviations
- Band 3 (outermost): ±3 standard deviations
- Midlines at 0.5σ intervals between bands
- All bands can be individually enabled/disabled
Customization Options:
1. Band calculation modes:
- Standard Deviation based
- Percentage based
2. Visual settings:
- Customizable colors for all elements
- Adjustable line widths
- Optional labels with configurable size
- Optional extension lines
- Label position adjustment
3. Source data selection (default: HLC3 - High, Low, Close average)
Common Uses:
- Identifying potential support/resistance levels
- Measuring price volatility
- Spotting mean reversion opportunities
- Trading range analysis
- Trend direction confirmation
The indicator essentially creates a dynamic support/resistance structure that adapts to market volatility and volume, making it useful for both intraday and swing trading strategies.
Tomas' Financial Conditions Z Score"The indicator is a composite z-score comprised of the following four components (equally-weighted):
Credit spreads - ICE BofA High Yield Option Adjusted Spread (BAMLH0A0HYM2) and ICE BofA Corporate Index Option Adjusted Spread (BAMLC0A0CM)
Volatility indexes - VIX (S&P 500 implied volatility) and MOVE (US Treasury bond implied volatility)
I've got it set to a 160-day lookback period, which I think is roughly the best setting after some tinkering.
When the z-score is above zero, it throws a red signal - and when the z-score is below zero, it throws a green signal.
This indicator is a follow-on from the "traffic light financial conditions indicator" that I wrote a thread about a couple of months ago.
I moved on from that previous indicator because it is based on the Federal Reserve's NFCI, which is regularly revised, but I didn't take that into account at the time.
So not a great real-time indicator, if the signal can be subsequently revised in the opposite direction weeks later.
This new indicator is based on real-time market data, so there's no revisions, and it also updates daily, as opposed to weekly for the NFCI"
Advanced MA and MACD PercentageIntroduction
The "Advanced MA and MACD Percentage" indicator is a powerful and innovative tool designed to help traders analyze financial markets with ease and precision. This indicator combines Moving Averages (MA) with the MACD indicator to assess the market’s overall trend and calculate the percentage of buy and sell signals based on current data.
Features
Multi-Timeframe Analysis:
Allows selecting your preferred timeframe for trend analysis, such as minute, hourly, daily, or weekly charts.
Support for Multiple Moving Average Types:
Offers the option to use either Simple Moving Average (SMA) or Exponential Moving Average (EMA), based on user preference.
Comprehensive MACD Analysis:
Analyzes the relationship between multiple moving averages (e.g., 20/50, 50/100) using MACD to provide deeper insights into market dynamics.
Calculation of Buy and Sell Percentages:
Computes the percentage of indicators signaling buy or sell conditions, providing a clear summary to assist trading decisions.
Intuitive Visual Interface:
Displays buy and sell percentages as two visible lines (green and red) on the chart.
Includes reference lines to clarify the range of percentages (100% to 0%).
How It Works
Moving Averages Calculation:
Calculates moving averages (20, 50, 100, 150, and 200) for the selected timeframe.
MACD Pair Analysis:
Computes the MACD to compare the performance between various moving average pairs, such as (20/50) and (50/100).
Identifying Buy and Sell Signals:
Counts the number of indicators signaling buy (price above MAs or positive MACD histogram).
Converts the count into percentages for both buy and sell signals.
Visual Representation:
Plots buy and sell percentages as clear lines (green for buy, red for sell).
Adds reference lines (100% and 0%) for easier interpretation.
How to Use the Indicator?
Settings:
Choose the type of moving average (SMA or EMA).
Select the timeframe that suits your strategy (e.g., 15 minutes, 1 hour, or daily).
Reading the Results:
If the buy percentage (green line) is above 50%, the overall trend is bullish (buy).
If the sell percentage (red line) is above 50%, the overall trend is bearish (sell).
Integrating Into Your Strategy:
Combine it with other indicators to confirm entry and exit signals.
Use it to quickly understand the market’s overall trend without needing complex manual analysis.
Benefits of the Indicator
Simplified Analysis: Provides a straightforward summary of the market's overall trend.
Adaptable to All Timeframes: Works perfectly on all timeframes.
Customizable: Allows users to adjust settings according to their needs.
Important Notes
This indicator does not provide direct buy or sell signals. Instead, it offers a summary of the market’s condition based on a combination of indicators.
It is recommended to use it alongside other technical analysis tools for precise trading signals.
Conclusion
The "Advanced MA and MACD Percentage" indicator is an ideal tool for traders who want to analyze the market using a combination of Moving Averages and MACD. It gives you a comprehensive overview of the overall trend, helping you make informed and quick trading decisions. Try it now and see the difference!
Period Separator & Candle OHLCThis script combines two powerful tools for traders: period separators and custom timeframe-based OHLC (Open, High, Low, Close) data visualization. Here's what it does:
Period Separators:
The script draws vertical lines to indicate the start of new time periods based on a user-defined timeframe (e.g., hourly, daily, weekly).
Users can customize the separator color, line style (solid, dashed, dotted), and width to suit their preferences.
Fetches OHLC data from a higher or custom timeframe (e.g., 4 hours) and overlays it on the current chart.
Users can choose to display the open, high, low, and close prices as dots or circles for easy visualization.
Optionally, the open and close dots can be visually connected with a filled bar for a candlestick-like effect.
The script color-codes the close price relative to the open (green if higher, red if lower) to highlight price direction at a glance.
Fully Customizable:
Users have full control over which OHLC values to display and whether the dots should be filled.
Transparency settings for plotted dots and fills are also adjustable for optimal visibility on different chart styles.
How It Is Useful for Trading:
Timeframe Analysis:
The period separators make it easy to distinguish trading activity across custom time intervals. This is crucial for intraday, swing, and long-term traders who analyze price movements within specific periods.
Multi-Timeframe Insights:
By overlaying OHLC data from a higher timeframe on a lower timeframe chart, traders can identify key support and resistance levels, pivots, and trends that are not immediately visible on the current timeframe.
Trend Recognition:
The color-coded close dots (green for bullish, red for bearish) provide an instant visual cue of market sentiment, helping traders confirm or refute their bias.
Whether you're a scalper, day trader, or position trader, the flexibility in timeframe selection, styling, and data presentation ensures this tool can adapt to your trading strategy.
TLA20 - Multi-Session Box and Level ToolTLA20 is a highly customizable indicator designed to enhance intraday analysis by marking predefined trading sessions, key levels, and midpoints directly on your charts. With its versatile features, TLA20 is ideal for traders looking to visualize multiple time zones, daily price ranges, and historical reference levels efficiently.
Key Features:
Session Visualization: Mark up to three custom trading sessions with distinct start and end times, adjustable for different time zones and weekend inclusions.
Dynamic Highlights: Automatically draw session highs, lows, midlines, and open prices with options to extend beyond session bounds.
Custom Styling: Configure border colors, styles, and fill options for each session box to match your chart preferences.
Historical Levels: Highlight previous daily highs/lows, weekly highs/lows, and monthly highs/lows for improved context in your trading.
Intuitive Adjustments: Enable or disable each feature and customize settings for precise alignment with your trading strategy.
Use Cases:
Track trading sessions across different markets and time zones.
Identify key price levels like session midpoints and opens for entry/exit strategies.
Overlay historical levels to recognize potential support and resistance areas.
This indicator does not provide direct trading signals but serves as a robust tool for enhancing technical analysis.
Disclaimer: The script is provided “as is” without warranties of any kind. Always test on a demo account before applying in live markets.
Scatter PlotThe Price Volume Scatter Plot publication aims to provide intrabar detail as a Scatter Plot .
🔶 USAGE
A dot is drawn at every intrabar close price and its corresponding volume , as can seen in the following example:
Price is placed against the white y-axis, where volume is represented on the orange x-axis.
🔹 More detail
A Scatter Plot can be beneficial because it shows more detail compared with a Volume Profile (seen at the right of the Scatter Plot).
The Scatter Plot is accompanied by a "Line of Best Fit" (linear regression line) to help identify the underlying direction, which can be helpful in interpretation/evaluation.
It can be set as a screener by putting multiple layouts together.
🔹 Easier Interpretation
Instead of analysing the 1-minute chart together with volume, this can be visualised in the Scatter Plot, giving a straightforward and easy-to-interpret image of intrabar volume per price level.
One of the scatter plot's advantages is that volumes at the same price level are added to each other.
A dot on the scatter plot represents the cumulated amount of volume at that particular price level, regardless of whether the price closed one or more times at that price level.
Depending on the setting "Direction" , which sets the direction of the Volume-axis, users can hoover to see the corresponding price/volume.
🔹 Highest Intrabar Volume Values
Users can display up to 5 last maximum intrabar volume values, together with the intrabar timeframe (Res)
🔹 Practical Examples
When we divide the recent bar into three parts, the following can be noticed:
Price spends most of its time in the upper part, with relative medium-low volume, since the intrabar close prices are mostly situated in the upper left quadrant.
Price spends a shorter time in the middle part, with relative medium-low volume.
Price moved rarely below 61800 (the lowest part), but it was associated with high volume. None of the intrabar close prices reached the lowest area, and the price bounced back.
In the following example, the latest weekly candle shows a rejection of the 45.8 - 48.5K area, with the highest volume at the 45.8K level.
The next three successive candles show a declining maximum intrabar volume, after which the price broke through the 45.8K area.
🔹 Visual Options
There are many visual options available.
🔹 Change Direction
The Scatter Plot can be set in 4 different directions.
🔶 NOTES
🔹 Notes
The script uses the maximum available resources to draw the price/volume dots, which are 500 boxes and 500 labels. When the population size exceeds 1000, a warning is provided ( Not all data is shown ); otherwise, only the population size is displayed.
The Scatter Plot ideally needs a chart which contains at least 100 bars. When it contains less, a warning will be shown: bars < 100, not all data is shown
🔹 LTF Settings
When 'Auto' is enabled ( Settings , LTF ), the LTF will be the nearest possible x times smaller TF than the current TF. When 'Premium' is disabled, the minimum TF will always be 1 minute to ensure TradingView plans lower than Premium don't get an error.
Examples with current Daily TF (when Premium is enabled):
500 : 3 minute LTF
1500 (default): 1 minute LTF
5000: 30 seconds LTF (1 minute if Premium is disabled)
🔶 SETTINGS
Direction: Direction of Volume-axis; Left, Right, Up or Down
🔹 LTF
LTF: LTF setting
Auto + multiple: Adjusts the initial set LTF
Premium: Enable when your TradingView plan is Premium or higher
🔹 Character
Character: Style of Price/Volume dot
Fade: Increasing this number fades dots at lower price/volume
Color
🔹 Linear Regression
Toggle (enable/disable), color, linestyle
Center Cross: Toggle, color
🔹 Background Color
Fade: Increasing this number fades the background color near lower values
Volume: Background color that intensifies as the volume value on the volume-axis increases
Price: Background color that intensifies as the price value on the price-axis increases
🔹 Labels
Size: Size of price/volume labels
Volume: Color for volume labels/axis
Price: Color for price labels/axis
Display Population Size: Show the population size + warning if it exceeds 1000
🔹 Dashboard
Location: Location of dashboard
Size: Text size
Display LTF: Display the intrabar Lower Timeframe used
Highest IB volume: Display up to 5 previous highest Intrabar Volume values
Ichimoku by FarmerBTCLegal Disclaimer
This strategy, "Ichimoku by FarmerBTC," is provided for educational and informational purposes only. It does not constitute financial advice and should not be relied upon as such. Trading and investing involve substantial risk, including the potential for losing more than your initial investment. Past performance is not indicative of future results. Always consult with a qualified financial advisor before making trading or investment decisions. The author of this strategy is not responsible for any financial losses incurred through its use.
Overview
The "Ichimoku by FarmerBTC" strategy is a trend-following system built on the Ichimoku Cloud indicator, enhanced with volume analysis and a high-timeframe Simple Moving Average (HTF SMA) condition. It is designed to identify long-only trade opportunities and performs optimally on higher timeframes, such as the daily chart or above.
Core Components
1. Ichimoku Cloud
The Ichimoku Cloud is a comprehensive trend-following indicator that helps identify the overall market direction and momentum. It consists of:
Conversion Line (Tenkan-Sen): Measures short-term momentum.
Base Line (Kijun-Sen): Filters medium-term trends.
Leading Span A: The average of the Conversion and Base Lines, forming one cloud boundary.
Leading Span B: The midpoint of the highest high and lowest low over a longer period, forming the other cloud boundary.
Key Ichimoku Rules Applied:
The strategy identifies bullish trends when:
The price is above the cloud.
The cloud is bullish (Leading Span A > Leading Span B).
2. High-Timeframe Simple Moving Average (HTF SMA)
This condition ensures alignment with the broader trend:
Default SMA Length: 13 periods.
Default Timeframe: 1 day.
HTF SMA Rule:
Trades are allowed only when the price is above the HTF SMA, ensuring alignment with the larger trend.
3. Volume Analysis
The strategy uses volume to validate trade setups:
Volume MA: A 20-period moving average of volume is calculated.
Trades are allowed only when the current volume is at least 1.5x the Volume MA, indicating strong market participation.
Entry and Exit Rules
Entry Condition (Long Only):
Price above the Ichimoku Cloud: Confirms a bullish trend.
Bullish Cloud: Leading Span A > Leading Span B indicates upward momentum.
Price above the HTF SMA: Ensures alignment with the broader trend.
Volume exceeds threshold: Confirms strong market participation.
Exit Condition:
The strategy exits the position when the price moves below the Ichimoku Cloud, signaling a potential trend reversal.
Best Timeframes
This strategy is optimized for daily (1D) or higher timeframes (e.g., weekly 1W). Using it on lower timeframes may produce false signals due to increased noise in price and volume data.
Default Settings
Ichimoku Settings:
Conversion Line Period: 10
Base Line Period: 30
Lagging Span Period: 53
Displacement: 26
HTF SMA Settings:
SMA Length: 13
Timeframe: 1 Day
Volume Settings:
Volume MA Length: 20
Volume Multiplier: 1.5x
Visualization
Ichimoku Cloud:
Dynamic cloud coloring (green for bullish, red for bearish) helps identify the current trend.
HTF SMA:
A purple line overlays the chart, providing a clear representation of the high-timeframe trend.
Volume Panel:
An optional panel displays volume (blue histogram) and the Volume Moving Average (orange line) to analyze market participation.
Advantages of This Strategy
High Accuracy on Higher Timeframes:
Filtering trades using the Ichimoku Cloud, HTF SMA, and volume ensures robust trend alignment, reducing false signals.
Volume Confirmation:
Incorporates volume as a validation metric to enter trades only during strong market participation.
Easy Customization:
Parameters like Ichimoku periods, SMA length, timeframe, and volume thresholds can be adjusted to suit different assets or trading styles.
Limitations
Not Suitable for Low Timeframes:
Lower timeframes can produce excessive noise, leading to false signals.
Long-Only:
The strategy is designed only for bullish markets and does not support short trades.
Lagging Nature of Indicators:
Both the Ichimoku Cloud and SMA are lagging indicators, meaning they react to past price movements.
Conclusion
The "Ichimoku by FarmerBTC" strategy is an excellent tool for trend-following on daily or higher timeframes. Its combination of Ichimoku Cloud, high-timeframe SMA, and volume ensures a robust framework for identifying high-probability long trades in trending markets. However, users are advised to test the strategy thoroughly and manage their risk appropriately. Always consult with a financial professional before making trading decisions.
Logarithmic Regression AlternativeLogarithmic regression is typically used to model situations where growth or decay accelerates rapidly at first and then slows over time. Bitcoin is a good example.
𝑦 = 𝑎 + 𝑏 * ln(𝑥)
With this logarithmic regression (log reg) formula 𝑦 (price) is calculated with constants 𝑎 and 𝑏, where 𝑥 is the bar_index .
Instead of using the sum of log x/y values, together with the dot product of log x/y and the sum of the square of log x-values, to calculate a and b, I wanted to see if it was possible to calculate a and b differently.
In this script, the log reg is calculated with several different assumed a & b values, after which the log reg level is compared to each Swing. The log reg, where all swings on average are closest to the level, produces the final 𝑎 & 𝑏 values used to display the levels.
🔶 USAGE
The script shows the calculated logarithmic regression value from historical swings, provided there are enough swings, the price pattern fits the log reg model, and previous swings are close to the calculated Top/Bottom levels.
When the price approaches one of the calculated Top or Bottom levels, these levels could act as potential cycle Top or Bottom.
Since the logarithmic regression depends on swing values, each new value will change the calculation. A well-fitted model could not fit anymore in the future.
Swings are based on Weekly bars. A Top Swing, for example, with Swing setting 30, is the highest value in 60 weeks. Thirty bars at the left and right of the Swing will be lower than the Top Swing. This means that a confirmation is triggered 30 weeks after the Swing. The period will be automatically multiplied by 7 on the daily chart, where 30 becomes 210 bars.
Please note that the goal of this script is not to show swings rapidly; it is meant to show the potential next cycle's Top/Bottom levels.
🔹 Multiple Levels
The script includes the option to display 3 Top/Bottom levels, which uses different values for the swing calculations.
Top: 'high', 'maximum open/close' or 'close'
Bottom: 'low', 'minimum open/close' or 'close'
These levels can be adjusted up/down with a percentage.
Lastly, an "Average" is included for each set, which will only be visible when "AVG" is enabled, together with both Top and Bottom levels.
🔹 Notes
Users have to check the validity of swings; the above example only uses 1 Top Swing for its calculations, making the Top level unreliable.
Here, 1 of the Bottom Swings is pretty far from the bottom level, changing the swing settings can give a more reliable bottom level where all swings are close to that level.
Note the display was set at "Logarithmic", it can just as well be shown as "Regular"
In the example below, the price evolution does not fit the logarithmic regression model, where growth should accelerate rapidly at first and then slows over time.
Please note that this script can only be used on a daily timeframe or higher; using it at a lower timeframe will show a warning. Also, it doesn't work with bar-replay.
🔶 DETAILS
The code gathers data from historical swings. At the last bar, all swings are calculated with different a and b values. The a and b values which results in the smallest difference between all swings and Top/Bottom levels become the final a and b values.
The ranges of a and b are between -20.000 to +20.000, which means a and b will have the values -20.000, -19.999, -19.998, -19.997, -19.996, ... -> +20.000.
As you can imagine, the number of calculations is enormous. Therefore, the calculation is split into parts, first very roughly and then very fine.
The first calculations are done between -20 and +20 (-20, -19, -18, ...), resulting in, for example, 4.
The next set of calculations is performed only around the previous result, in this case between 3 (4-1) and 5 (4+1), resulting in, for example, 3.9. The next set goes even more in detail, for example, between 3.8 (3.9-0.1) and 4.0 (3.9 + 0.1), and so on.
1) -20 -> +20 , then loop with step 1 (result (example): 4 )
2) 4 - 1 -> 4 +1 , then loop with step 0.1 (result (example): 3.9 )
3) 3.9 - 0.1 -> 3.9 +0.1 , then loop with step 0.01 (result (example): 3.93 )
4) 3.93 - 0.01 -> 3.93 +0.01, then loop with step 0.001 (result (example): 3.928)
This ensures complicated calculations with less effort.
These calculations are done at the last bar, where the levels are displayed, which means you can see different results when a new swing is found.
Also, note that this indicator has been developed for a daily (or higher) timeframe chart.
🔶 SETTINGS
Three sets
High/Low
• color setting
• Swing Length settings for 'High' & 'Low'
• % adjustment for 'High' & 'Low'
• AVG: shows average (when both 'High' and 'Low' are enabled)
Max/Min (maximum open/close, minimum open/close)
• color setting
• Swing Length settings for 'Max' & 'Min'
• % adjustment for 'Max' & 'Min'
• AVG: shows average (when both 'Max' and 'Min' are enabled)
Close H/Close L (close Top/Bottom level)
• color setting
• Swing Length settings for 'Close H' & 'Close L'
• % adjustment for 'Close H' & 'Close L'
• AVG: shows average (when both 'Close H' and 'Close L' are enabled)
Show Dashboard, including Top/Bottom levels of the desired source and calculated a and b values.
Show Swings + Dot size
HTF Candles Overlay [Trendoscope®]🎲 HTF Candles Overlay is a simple indicator where you can overlay higher timeframe candles on current timeframe chart.
Most of the code is encapsulated in the library HTFCandlesLib . After publishing the library as open source, many people requested to convert that into an indicator. Based on this, we decided to publish this small code for the use of community.
🎯 Usage
The indicator is simple, it helps users visualise higher timeframe candles. We majorly use this for debugging or validating our implementations based on higher timeframe. Instead of switching back and forth to different timeframes, it helps us visualise higher timeframe candles on the same chart when we are validating the implementation that involves higher timeframe calculations.
🎯 Components
The indicator provides two types of displays
Candles - overlay candles built through lines and labels
Plot - close price of higher timeframe plotted on chart
🎯 Candles
The behaviour of the candles are similar to that of hollow candles. The color of the body and the border+wick demonstrates the movement of the candle.
Body color is lime if the HTF close is higher than HTF open. Body color is orange if the HTF close is lower than the HTF open.
Wick and border color is lime if HTF close price is higher than previous HTF close price. And they are orange if HTF close price is lower than the previous HTF close price
In most cases body color will be same as the wick color. In case of stocks and indices, it may happen that the open price is too far away from previous close price due to gaps. This can lead to close price being relatively in different direction when compared to open and previous close.
Wicks are not at the centre of the candle. Instead wicks are drawn on the current chart timeframe position where the current timeframe has reached the highest or lowest point within the given HTF candle
Candles also list OHLC price of HTF candle along with HTF bar index and the range of LTF bar index that the candle spawns
Here are some pictorial representations that can help understand better.
Here are the examples of candles with gaps where body and wick/border are in different directions (colours)
🎯 Indicator Settings
Simple settings allow users to select the timeframe, whether to display candles and plots and their specific colors.
🎯 Possible inconsistencies
The overlay can show inconsistent data in certain situations. Here are some of the scenarios where the indicator may not show consistent display of the data.
When the HTF data from request.security does not match that of combined LTF data . In such cases, HTF candles may not form inline with the current timeframe candles. This happens when there is a data issue of different OHLC data available in tradingview.
When using weekly candle as either chart timeframe or higher timeframe - end of week may not coincide with end of month or other timeframes. This can cause some inconsistencies in the visuals of the indicator.
When open and close time of either LTF or HTF falls under different day due to time zone used. - time is always the time on which the candle close. So, when we use time zone that causes the exchange day to open and close on different days, that can cause some inconsistencies in the candles being drawn.
DCA Performance AnalysisDollar-Cost Averaging (DCA) Performance Calculator
This indicator helps you analyze the performance of a DCA investment strategy by simulating regular periodic investments into an asset. Perfect for long-term investors who want to evaluate or backtest their DCA strategy.
Key Features:
- Flexible Investment Scheduling: Choose between daily, weekly, or monthly investments
- Custom Date Range: Set specific start and end dates for your analysis
- Adjustable Investment Amount: Input any dollar amount for your regular investments
- Clear Visual Markers: Green triangles show entry points, red triangle marks the end date
- Comprehensive Performance Metrics: View total investment, days invested, unrealized yield, and portfolio value
The indicator displays a clean, easy-to-read table showing:
1. Total Invested: The cumulative amount of money invested
2. Investment Days: Total number of investment entries executed
3. Unrealized Yield: Both dollar amount and percentage return (calculated at end date)
4. Portfolio Worth: Total value of holdings at the specified end date
Usage Tips:
- Best used on BTCUSD or other cryptocurrency pairs
- Works on all timeframes, but matching the timeframe to your DCA frequency provides the clearest visualization
- Calculations use opening prices for entries and closing price at end date for final valuation
- All calculations are based on UTC+0 time
This tool is ideal for:
- Backtesting DCA strategies
- Understanding historical DCA performance
- Comparing different DCA frequencies
- Planning future DCA investments
- Educational purposes about DCA investing
Note: This indicator is for informational purposes only and should not be considered financial advice. Past performance does not guarantee future results.
Correlation Coefficient [Giang]### **Introduction to the "Correlation Coefficient" Indicator**
#### **Idea behind the Indicator**
The "Correlation Coefficient" indicator was developed to analyze the linear relationship between Bitcoin (**BTCUSD**) and other important economic indices or financial assets, such as:
- **SPX** (S&P 500 Index): Represents the U.S. stock market.
- **DXY** (Dollar Index): Reflects the strength of the USD against major currencies.
- **SPY** (ETF representing the S&P 500): A popular trading instrument.
- **GOLD** (Gold price): A traditional safe-haven asset.
The correlation between these assets can help traders understand how Bitcoin reacts to market movements of traditional financial instruments, providing opportunities for more effective trading decisions.
Additionally, the indicator allows users to **customize asset symbols for comparison**, not limited to the default indices (SPX, DXY, SPY, GOLD). This flexibility enables traders to tailor their analysis to specific goals and portfolios.
---
#### **Significance and Use of Correlation in Trading**
**Correlation** is a measure of the linear relationship between two data series. In the context of this indicator:
- **The correlation coefficient ranges from -1 to 1**:
- **1**: Perfect positive relationship (both increase or decrease together).
- **0**: No linear relationship.
- **-1**: Perfect negative relationship (one increases while the other decreases).
- **Use in trading**:
- Identify **strong relationships or unusual divergences** between Bitcoin and other assets.
- Help determine **market sentiment**: For example, if Bitcoin has a negative correlation with DXY, traders might expect Bitcoin to rise when the USD weakens.
- Provide a foundation for hedging strategies or investments based on inter-asset relationships.
---
#### **Components of the Indicator**
The "Correlation Coefficient" indicator consists of the following key components:
1. **Main Data (BTCUSD)**:
- The closing price of Bitcoin is used as the central asset for calculations.
2. **Comparison Data**:
- Users can select different asset symbols for comparison. By default, the indicator supports:
- **SPX**: Stock market index.
- **DXY**: Dollar Index.
- **SPY**: Popular ETF.
- **GOLD**: Gold price.
3. **Correlation Coefficients**:
- Calculated between BTC and each comparison index, based on a Weighted Moving Average (WMA) over a user-defined period.
4. **Graphical Representation**:
- Displays individual correlation coefficients with each comparison index, making it easier for traders to track and analyze.
---
#### **How to Analyze and Use the Indicator**
**1. Identify Key Correlations:**
- Observe the correlation lines between BTC and the indices to determine positive or negative relationships.
- Example:
- If the **Correlation Coefficient (BTC-DXY)** sharply declines to -1, this indicates that when USD strengthens, Bitcoin tends to weaken.
**2. Analyze the Strength of Correlations:**
- **Strong Correlations**: If the coefficient is close to 1 or -1, the relationship between the two assets is very clear.
- **Weak Correlations**: If the coefficient is near 0, Bitcoin may be influenced by other factors outside the compared index.
**3. Develop Trading Strategies:**
- Use correlations to predict Bitcoin's price movements:
- If BTC has an inverse relationship with **DXY**, traders might consider selling BTC when the USD strengthens.
- If BTC and **SPX** are strongly correlated, traders can monitor the stock market to predict Bitcoin's trend.
**4. Evaluate Changes Over Time:**
- Use different timeframes (daily, weekly) to track the correlation's fluctuations.
- Look for unusual signals, such as a breakdown or shift from positive to negative relationships.
---
#### **Conclusion**
The "Correlation Coefficient" indicator is a powerful tool that helps traders analyze the relationship between Bitcoin and major financial indices. The ability to customize asset symbols for comparison makes the indicator flexible and suitable for various trading strategies. When used correctly, this indicator not only provides insights into market sentiment but also supports the development of intelligent trading strategies and optimized profits.
Top-Down Trend and Key Levels with Swing Points//by antaryaami0
Overview
The “Top-Down Trend and Key Levels with Swing Points” indicator is a comprehensive tool designed to enhance your technical analysis by integrating multiple trading concepts into a single, easy-to-use script. It combines higher timeframe trend analysis, key price levels, swing point detection, and ranging market identification to provide a holistic view of market conditions. This indicator is particularly useful for traders who employ multi-timeframe analysis, support and resistance levels, and price action strategies.
Key Features
1. Higher Timeframe Trend Background Shading:
• Purpose: Identifies the prevailing trend on a higher timeframe to align lower timeframe trading decisions with the broader market direction.
• How it Works: The indicator compares the current higher timeframe close with the previous one to determine if the trend is up, down, or ranging.
• Customization:
• Trend Timeframe: Set your preferred higher timeframe (e.g., Daily, Weekly).
• Up Trend Color & Down Trend Color: Customize the background colors for uptrends and downtrends.
• Ranging Market Color: A separate color to indicate when the market is moving sideways.
2. Key Price Levels:
• Previous Day High (PDH) and Low (PDL):
• Purpose: Identifies key support and resistance levels from the previous trading day.
• Visualization: Plots horizontal lines at PDH and PDL with labels.
• Customization: Option to show or hide these levels and customize their colors.
• Pre-Market High (PMH) and Low (PML):
• Purpose: Highlights the price range during the pre-market session, which can indicate potential breakout levels.
• Visualization: Plots horizontal lines at PMH and PML with labels.
• Customization: Option to show or hide these levels and customize their colors.
3. First 5-Minute Marker (F5H/F5L):
• Purpose: Marks the high or low of the first 5 minutes after the market opens, which is significant for intraday momentum.
• How it Works:
• If the first 5-minute high is above the Pre-Market High (PMH), an “F5H” label is placed at the first 5-minute high.
• If the first 5-minute high is below the PMH, an “F5L” label is placed at the first 5-minute low.
• Visualization: Labels are placed at the 9:35 AM candle (closing of the first 5 minutes), colored in purple by default.
• Customization: Option to show or hide the marker and adjust the marker color.
4. Swing Points Detection:
• Purpose: Identifies significant pivot points in price action to help recognize trends and reversals.
• How it Works: Uses left and right bars to detect pivot highs and lows, then determines if they are Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), or Lower Lows (LL).
• Visualization: Plots small markers (circles) with labels (HH, LH, HL, LL) at the corresponding swing points.
• Customization: Adjust the number of left and right bars for pivot detection and the size of the markers.
5. Ranging Market Detection:
• Purpose: Identifies periods when the market is consolidating (moving sideways) within a defined price range.
• How it Works: Calculates the highest high and lowest low over a specified period and determines if the price range is within a set percentage threshold.
• Visualization: Draws a gray box around the price action during the ranging period and labels the high and low prices at the end of the range.
• Customization: Adjust the range detection period and threshold, as well as the box color.
6. Trend Coloring on Chart:
• Purpose: Provides a visual cue for the short-term trend based on a moving average.
• How it Works: Colors the candles green if the price is above the moving average and red if below.
• Customization: Set the moving average length and customize the uptrend and downtrend colors.
How to Use the Indicator
1. Adding the Indicator to Your Chart:
• Copy the Pine Script code provided and paste it into the Pine Script Editor on TradingView.
• Click “Add to Chart” to apply the indicator.
2. Configuring Inputs and Settings:
• Access Inputs:
• Click on the gear icon next to the indicator’s name on your chart to open the settings.
• Customize Key Levels:
• Show Pre-Market High/Low: Toggle on/off.
• Show Previous Day High/Low: Toggle on/off.
• Show First 5-Minute Marker: Toggle on/off.
• Set Trend Parameters:
• Trend Timeframe for Background: Choose the higher timeframe for trend analysis.
• Moving Average Length for Bar Color: Set the period for the moving average used in bar coloring.
• Adjust Ranging Market Detection:
• Range Detection Period: Specify the number of bars to consider for range detection.
• Range Threshold (%): Set the maximum percentage range for the market to be considered ranging.
• Customize Visuals:
• Colors: Adjust colors for trends, levels, markers, and ranging market boxes.
• Label Font Size: Choose the size of labels displayed on the chart.
• Level Line Width: Set the thickness of the lines for key levels.
3. Interpreting the Indicator:
• Background Shading:
• Green Shade: Higher timeframe is in an uptrend.
• Red Shade: Higher timeframe is in a downtrend.
• Gray Box: Market is ranging (sideways movement).
• Key Levels and Markers:
• PDH and PDL Lines: Represent resistance and support from the previous day.
• PMH and PML Lines: Indicate potential breakout levels based on pre-market activity.
• F5H/F5L Labels: Early indication of intraday momentum after market open.
• Swing Point Markers:
• HH (Higher High): Suggests bullish momentum.
• LH (Lower High): May indicate a potential bearish reversal.
• HL (Higher Low): Supports bullish continuation.
• LL (Lower Low): Indicates bearish momentum.
• Ranging Market Box:
• Gray Box Around Price Action: Highlights consolidation periods where breakouts may occur.
• Range High and Low Labels: Provide the upper and lower bounds of the consolidation zone.
4. Applying the Indicator to Your Trading Strategy:
• Trend Alignment:
• Use the higher timeframe trend shading to align your trades with the broader market direction.
• Key Levels Trading:
• Watch for price reactions at PDH, PDL, PMH, and PML for potential entry and exit points.
• Swing Points Analysis:
• Identify trend continuations or reversals by observing the sequence of HH, HL, LH, and LL.
• Ranging Market Strategies:
• During ranging periods, consider range-bound trading strategies or prepare for breakout trades when the price exits the range.
• Intraday Momentum:
• Use the F5H/F5L marker to gauge early market sentiment and potential intraday trends.
Practical Tips
• Adjust Settings to Your Trading Style:
• Tailor the indicator’s inputs to match your preferred timeframes and trading instruments.
• Combine with Other Indicators:
• Use in conjunction with volume indicators, oscillators, or other technical tools for additional confirmation.
• Backtesting:
• Apply the indicator to historical data to observe how it performs and refine your settings accordingly.
• Stay Updated on Market Conditions:
• Be aware of news events or economic releases that may impact market behavior and the effectiveness of technical levels.
Customization Options
• Time Zone Adjustment:
• The script uses “America/New_York” time zone by default. Adjust the timezone variable in the script if your chart operates in a different time zone.
var timezone = "Your/Timezone"
• Session Times:
• Modify the Regular Trading Session and Pre-Market Session times in the indicator settings to align with the trading hours of different markets or exchanges.
• Visual Preferences:
• Colors: Personalize the indicator’s colors to suit your visual preferences or to enhance visibility.
• Label Sizes: Adjust label sizes if you find them too intrusive or not prominent enough.
• Marker Sizes: Further reduce or enlarge the swing point markers by modifying the swing_marker_size variable.
Understanding the Indicator’s Logic
1. Higher Timeframe Trend Analysis:
• The indicator retrieves the closing prices of a higher timeframe using the request.security() function.
• It compares the current higher timeframe close with the previous one to determine the trend direction.
2. Key Level Calculation:
• Previous Day High/Low: Calculated by tracking the highest and lowest prices of the previous trading day.
• Pre-Market High/Low: Calculated by monitoring price action during the pre-market session.
3. First 5-Minute Marker Logic:
• At 9:35 AM (end of the first 5 minutes after market open), the indicator evaluates whether the first 5-minute high is above or below the PMH.
• It then places the appropriate label (F5H or F5L) on the chart.
4. Swing Points Detection:
• The script uses ta.pivothigh() and ta.pivotlow() functions to detect pivot points.
• It then determines the type of swing point based on comparisons with previous swings.
5. Ranging Market Detection:
• The indicator looks back over a specified number of bars to find the highest high and lowest low.
• It calculates the percentage difference between these two points.
• If the difference is below the set threshold, the market is considered to be ranging, and a box is drawn around the price action.
Limitations and Considerations
• Indicator Limitations:
• Maximum Boxes and Labels: Due to Pine Script limitations, there is a maximum number of boxes and labels that can be displayed simultaneously.
• Performance Impact: Adding multiple visual elements (boxes, labels, markers) can affect the performance of the script on lower-end devices or with large amounts of data.
• Market Conditions:
• False Signals: Like any technical tool, the indicator may produce false signals, especially during volatile or erratic market conditions.
• Not a Standalone Solution: This indicator should be used as part of a comprehensive trading strategy, including risk management and other forms of analysis.
Conclusion
The “Top-Down Trend and Key Levels with Swing Points” indicator is a versatile tool that integrates essential aspects of technical analysis into one script. By providing insights into higher timeframe trends, highlighting key price levels, detecting swing points, and identifying ranging markets, it equips traders with valuable information to make more informed trading decisions. Whether you are a day trader looking for intraday opportunities or a swing trader aiming to align with the broader trend, this indicator can enhance your chart analysis and trading strategy.
Disclaimer
Trading involves significant risk, and it’s important to understand that past performance is not indicative of future results. This indicator is a tool to assist in analysis and should not be solely relied upon for making trading decisions. Always conduct thorough research and consider seeking advice from financial professionals before engaging in trading activities.
Adapted RSI w/ Multi-Asset Regime Detection v1.1The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of an asset's recent price changes to detect overbought or oversold conditions in the price of said asset.
In addition to identifying overbought and oversold assets, the RSI can also indicate whether your desired asset may be primed for a trend reversal or a corrective pullback in price. It can signal when to buy and sell.
The RSI will oscillate between 0 and 100. Traditionally, an RSI reading of 70 or above indicates an overbought condition. A reading of 30 or below indicates an oversold condition.
The RSI is one of the most popular technical indicators. I intend to offer a fresh spin.
Adapted RSI w/ Multi-Asset Regime Detection
Our Adapted RSI makes necessary improvements to the original Relative Strength Index (RSI) by combining multi-timeframe analysis with multi-asset monitoring and providing traders with an efficient way to analyse market-wide conditions across different timeframes and assets simultaneously. The indicator automatically detects market regimes and generates clear signals based on RSI levels, presenting this data in an organised, easy-to-read format through two dynamic tables. Simplicity is key, and having access to more RSI data at any given time, allows traders to prepare more effectively, especially when trading markets that "move" together.
How we calculate the RSI
First, the RSI identifies price changes between periods, calculating gains and losses from one look-back period to the next. This look-back period averages gains and losses over 14 periods, which in this case would be 14 days, and those gains/losses are calculated based on the daily closing price. For example:
Average Gain = Sum of Gains over the past 14 days / 14
Average Loss = Sum of Losses over the past 14 days / 14
Then we calculate the Relative Strength (RS):
RS = Average Gain / Average Loss
Finally, this is converted to the RSI value:
RSI = 100 - (100 / (1 + RS))
Key Features
Our multi-timeframe RSI indicator enhances traditional technical analysis by offering synchronised Daily, Weekly, and Monthly RSI readings with automatic regime detection. The multi-asset monitoring system allows tracking of up to 10 different assets simultaneously, with pre-configured major pairs that can be customised to any asset selection. The signal generation system provides clear market guidance through automatic regime detection and a five-level signal system, all presented through a sophisticated visual interface with dynamic RSI line colouring and customisable display options.
Quick Guide to Use it
Begin by adding the indicator to your chart and configuring your preferred assets in the "Asset Comparison" settings.
Position the two information tables according to your preference.
The main table displays RSI analysis across three timeframes for your current asset, while the asset table shows a comparative analysis of all monitored assets.
Signals are colour-coded for instant recognition, with green indicating bullish conditions and red for bearish conditions. Pay special attention to regime changes and signal transitions, using multi-timeframe confluence to identify stronger signals.
How it Works (Regime Detection & Signals)
When we say 'Regime', a regime is determined by a persistent trend or in this case momentum and by leveraging this for RSI, which is a momentum oscillator, our indicator employs a relatively simple regime detection system that classifies market conditions as either Bullish (RSI > 50) or Bearish (RSI < 50). Our benchmark between a trending bullish or bearish market is equal to 50. By leveraging a simple classification system helps determine the probability of trend continuation and the weight given to various signals. Whilst we could determine a Neutral regime for consolidating markets, we have employed a 'neutral' signal generation which will be further discussed below...
Signal generation occurs across five distinct levels:
Strong Buy (RSI < 15)
Buy (RSI < 30)
Neutral (RSI 30-70)
Sell (RSI > 70)
Strong Sell (RSI > 85)
Each level represents different market conditions and probability scenarios. For instance, extreme readings (Strong Buy/Sell) indicate the highest probability of mean reversion, while neutral readings suggest equilibrium conditions where traders should focus on the overall regime bias (Bullish/Bearish momentum).
This approach offers traders a new and fresh spin on a popular and well-known tool in technical analysis, allowing traders to make better and more informed decisions from the well presented information across multiple assets and timeframes. Experienced and beginner traders alike, I hope you enjoy this adaptation.
Previous Candle AverageDescription:
The Previous Candle Average indicator is a powerful tool designed to provide traders with insights into market momentum by visualizing the relationship between the current and previous open levels for a customizable timeframe. This versatile indicator allows you to select from various timeframes, including 1 Month, 1 Week, 1 Day, 8 Hours, 4 Hours, and 1 Hour, making it suitable for different trading strategies, whether you're a swing trader, day trader, or scalper.
The indicator plots the Current Open and Previous Open levels for the selected timeframe and calculates the average value between them. By displaying these critical levels, traders can quickly gauge the current market dynamics relative to the previous period, making it easier to identify support, resistance, or trend continuation.
Key Features:
Custom Timeframe Selection: Easily select the desired timeframe from a variety of options (1M, 1W, 1D, 8H, 4H, 1H) to align with your trading strategy.
Current and Previous Open Levels: The indicator plots both the Current Open and Previous Open levels for the chosen timeframe, providing clear visual guidance on where the market is opening relative to the previous period.
Open Fill with Adjustable Transparency: The area between the Current Open and Previous Open levels is filled with color to represent the relationship between the two. The fill color changes based on whether the Current Open is above or below the Previous Open, with a default 20% opacity for better clarity without overwhelming the chart.
Average Line: The indicator also plots the average value between the Current Open and Previous Open levels, painted by default in a solid white color with a line thickness of 2. This average helps identify potential key levels where the price might react.
Dynamic Coloring: The fill color changes dynamically based on whether the Current Open is higher or lower than the Previous Open, using green to indicate bullish behavior and red for bearish behavior.
How to Use:
The Previous Candle Average indicator can help traders identify the momentum of the market by visually comparing the relationship between consecutive open levels.
Use the Average Line as a reference for potential support or resistance, especially when the market opens near this average.
The Open Fill color can quickly indicate a shift in market sentiment. A green fill suggests that the market is opening stronger than the previous period, while a red fill indicates weakness.
Best Practices:
Combine this indicator with other technical analysis tools, such as trend lines, moving averages, or volume analysis, to confirm potential trading opportunities.
The custom timeframe feature is particularly useful for multi-timeframe analysis. For instance, you can monitor weekly open levels while trading on an hourly chart.
Note: The indicator uses real-time open data and is updated accordingly, ensuring there is no delay or repainting of historical values.
Ideal For:
Traders who want a clear visual representation of market open levels relative to previous periods.
Those who want to identify potential shifts in momentum by comparing open levels across different timeframes.
Traders seeking to add an additional layer of analysis to their existing strategy by incorporating key opening levels and their averages.
Support/Resistance Strength [UAlgo]The Support/Resistance Strength indicator is a tool designed for traders seeking a precise understanding of key support and resistance levels in the market. This tool dynamically identifies and visualizes support and resistance zones based on pivot points and strength criteria, providing traders with actionable insights for better decision-making.
By incorporating features such as ATR-based or percentage-based channel calculations, customizable strength thresholds, and intuitive visualization of key levels, the indicator caters to traders of various skill levels and strategies. It also adapts dynamically to market conditions, allowing users to identify frequently tested zones with minimal manual input.
🔶 Key Features
Dynamic Support and Resistance Zones
Automatically detects significant support and resistance levels using pivot high and low calculations.
Offers ATR-based or percentage-based channel customization to cater to diverse trading styles.
Customizable Parameters
Lookback period for pivot calculations, strength threshold, and maximum stored pivots are fully adjustable.
Display options for showing specific numbers of recent support/resistance lines.
Intuitive Visualization
Highlights key support and resistance levels with color-coded lines and labels.
Includes percentage deviation from the current price for quick assessment.
Interactive Updates
Continuously updates support and resistance levels to reflect changing market dynamics.
Displays pivot points visually for enhanced clarity.
Can be used effectively on various timeframes, from intraday to daily and weekly charts.
🔶 Interpreting the Indicator
Identifying Key Levels
Support levels are indicated by green (lime) lines and resistance levels by red lines. The transparency of colors is adjustable for visual preference.
Labels display the exact price level and the percentage difference from the current price.
Strength Threshold
The "Minimum S/R Strength" parameter defines how frequently a level must be tested to be considered significant.
Higher strength values indicate zones that have been tested more frequently, suggesting stronger support or resistance.
Pivot Points
The indicator marks pivot high and low points on the chart to provide a visual representation of the calculated levels.
Dynamic Updates
The indicator adapts to the most recent price action. If the price moves above a resistance level or below a support level, the color of the lines and labels will dynamically change to reflect the current price positioning.
🔶 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.
