Weekly Open to Close Percentage ChangeThe "Weekly Open to Close Percentage Change Indicator" is a powerful tool designed to help traders and investors track the percentage change in price from the open of the current week's candle to its close. This indicator provides a clear visualization of how the price has moved within the week, offering valuable insights into weekly market trends and momentum.
Key Features:
Weekly Analysis: Focuses on weekly time frames, making it ideal for swing traders and long-term investors.
Percentage Change Calculation: Accurately calculates the percentage change from the open price of the current week's candle to the close price.
Color-Coded Visualization: Uses color coding to differentiate between positive and negative changes:
Green for positive percentage changes (price increase).
Red for negative percentage changes (price decrease).
Histogram Display: Plots the percentage change as a histogram for easy visual interpretation.
Background Highlighting: Adds a background color with transparency to highlight the nature of the change, enhancing chart readability.
Optional Labels: Includes an option to display percentage change values as small dots at the top for quick reference.
How to Use:
Add the script to your TradingView chart by opening the Pine Editor, pasting the script, and saving it.
Apply the indicator to your chart. It will automatically calculate and display the weekly percentage change.
Use the color-coded histogram and background to quickly assess weekly price movements and make informed trading decisions.
Use Cases:
Trend Identification: Quickly identify whether the market is trending upwards or downwards on a weekly basis.
Market Sentiment: Gauge the market sentiment by observing the weekly price changes.
Swing Trading: Ideal for swing traders who base their strategies on weekly price movements.
Note: This indicator is designed for educational and informational purposes. Always conduct thorough analysis and consider multiple indicators and factors when making trading decisions.
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Weekly Standard Deviations (NQ1!/VXN / ES1!/VIX)Weekly Standard Deviations (NQ1!/VXN or ES1!/VIX) – Settlement-Based with Robust Volatility Calculation
This indicator displays weekly standard deviation bands for US index futures (NQ1!, ES1!, MNQ1!, MES1!) using a professional approach:
Weekly Settlement as Basis:
The center line ("Mid") is based on the official weekly settlement price of the selected future (using settlement feeds, not just the last traded price). This ensures high accuracy for institutional and systematic trading.
Volatility by VIX/VXN, Friday 5-Minute Close (CET):
The volatility input (σ) is dynamically derived from the VIX or VXN. Specifically, the indicator uses the last available 5-minute close on Friday after 22:00 CET (Central European Time) each week. If there is no data at exactly 22:10 or 22:05 (e.g. shortened sessions or holidays), it falls back to the latest available 5-minute close of that Friday, ensuring reliable calculation in all market conditions.
Standard Deviation Bands:
The ±1σ, ±2σ, and ±3σ bands are calculated from the weekly settlement price and the robust volatility value. These bands are widely used by professionals for mean reversion, volatility trading, and risk management.
Dynamic Holiday Logic:
Includes dynamic holiday calculation for major US market holidays (can be expanded for other regions). This helps to keep calculations consistent even in holiday weeks.
Labels & Visuals:
Each standard deviation level and the center are labeled for easy orientation. All lines are automatically updated at the start of each new week.
Recommended for:
Advanced traders, systematic/quant traders, and anyone who wants an institutional-grade approach to weekly volatility structure in US index futures.
How to Use:
Add to a chart of NQ1!, MNQ1!, ES1!, or MES1! (futures continuous contracts).
Choose your preferred symbol pair (NQ1!/VXN or ES1!/VIX) in the indicator settings.
All calculations and band updates are fully automatic.
This script is for educational and informational purposes only and should not be considered financial advice or a recommendation to buy or sell any security or derivative. Trading futures and derivatives involves substantial risk and is not suitable for every investor. The author of this script accepts no liability for any loss or damage arising from the use of this tool. Always do your own research and consult with a professional financial advisor before making investment decisions.
Weekly Levels Prep (Smart Weekly Candle)This script draws key weekly levels based on the most recent completed weekly candle (Monday–Friday). It automatically calculates and plots:
✅ Weekly High & Low
✅ Midpoint (50% level)
✅ Extension levels above and below
All levels are dynamically updated every new week and are visually marked with clean color-coded horizontal lines. Price values are shown near the price axis for clear visibility across all timeframes.
Great for:
Weekly preparation
Swing trading setups
Mean reversion and range breakouts
🔄 Works on all timeframes
🔍 Lightweight and non-intrusive
Built by a trader, for traders. 💼📈
Weekly MA SuiteThe Weekly MA Suite is a multi-layered moving average indicator designed for traders and investors who analyze market trends across weekly and long-term timeframes. It combines three critical trend layers—short-term (1W EMA/VWMA), mid-term (30W EMA/VWMA), and long-term (200W HMA)—providing clear insights into market momentum, structure, and cycle trends.
This indicator is ideal for:
✅ Swing traders looking for weekly momentum shifts
✅ Position traders tracking multi-week to multi-month trends
✅ Long-term investors monitoring macro market cycles
Each layer has customizable colors, transparency, and visibility toggles, ensuring traders can tailor the indicator to their specific needs.
📊 Breakdown of Components
🔹 Short-Term Trend (1W EMA/VWMA Ribbon – Top Layer)
Purpose: Captures weekly momentum and volume dynamics
• 1W EMA (Exponential Moving Average) reacts quickly to price changes
• 1W VWMA (Volume-Weighted Moving Average) accounts for volume to confirm trend strength
• Ribbon fill highlights the divergence between price-based momentum (EMA) and volume-weighted trends (VWMA), making trend shifts easier to spot
Usage:
• If the 1W EMA is above the 1W VWMA, momentum is strong and price is trending higher with support from volume
• If the EMA crosses below the VWMA, it may indicate weakening trend strength or distribution
• A widening ribbon suggests increasing momentum, while a narrowing ribbon signals potential consolidation or reversal
🔸 Mid-Term Trend (30W EMA/VWMA Ribbon – Middle Layer)
Purpose: Provides insight into the broader market structure over multiple months
• 30W EMA represents the dominant trend direction over roughly half a year
• 30W VWMA smooths this trend while weighting price by trading volume
• Ribbon fill allows for a visual representation of how volume impacts trend direction
Usage:
• A bullish trend is confirmed when price remains above the 30W EMA, with the ribbon widening in an uptrend
• A bearish shift occurs when the 30W EMA crosses below the 30W VWMA, signaling weakening demand
• If the ribbon narrows or twists frequently, the market may be in a choppy, range-bound phase
🔻 Long-Term Trend (200W HMA – Background Layer)
Purpose: Identifies major market cycles and deep trend shifts
• The 200W Hull Moving Average (HMA) is a long-term smoothing tool that reduces lag while maintaining trend clarity
• Unlike traditional moving averages, the HMA reacts faster to trend changes without excessive noise
Usage:
• When price is above the 200W HMA, the broader trend remains bullish, even during short-term corrections
• A cross below the 200W HMA may indicate a macro downtrend or deep market cycle shift
• Long-term investors can use this as a dynamic support or resistance zone
🎯 How to Use the Weekly MA Suite for Trading
📅 Identifying Market Phases
• In strong uptrends, the 1W EMA and 30W EMA will be aligned above their VWMA counterparts, with price well above the 200W HMA
• In sideways markets, the ribbons will frequently narrow or cross, signaling indecision
• In bear markets, price will typically trade below the 30W EMA, with the 200W HMA acting as a long-term resistance
📈 Entry and Exit Strategies
• A bullish trade setup occurs when the 1W EMA crosses above the 1W VWMA while the 30W EMA holds above the 30W VWMA, confirming multi-timeframe momentum
• A bearish setup is confirmed when the 1W EMA crosses below the 1W VWMA and price is also trending below the 30W EMA
• The 200W HMA can be used as a trend filter—staying long when price is above it and avoiding longs when price is below
🚦 Customizing for Your Trading Style
• Scalpers can focus on the 1W ribbon for faster trend shifts
• Swing traders can use the 30W ribbon for trend-following entries and exits
• Long-term investors should watch price action relative to the 200W HMA for market cycle positioning
🔧 Final Thoughts
The Weekly MA Suite simplifies multi-timeframe analysis by layering key moving averages in an intuitive and structured format. By combining short, medium, and long-term trend indicators, traders can confidently navigate market conditions and improve decision-making. Whether trading weekly trends or monitoring multi-year cycles, this tool provides a clear visual framework to enhance market insights.
Weekly Covered Calls StrategyWhat Does This Indicator Do?
This indicator is a tool to help you pick strike prices for your weekly covered call options strategy. It does two things:
Plots two suggested strike prices on your chart:
Aggressive Strike (red label): A strike price closer to the current price, offering higher premiums but with a higher chance of assignment.
Moderate Strike (blue label): A strike price further from the current price, offering lower premiums but with a lower chance of assignment.
Uses technical analysis (volatility) to calculate these strike prices dynamically. It adjusts them based on the market's volatility and your chosen risk settings.
How It Works:
The indicator uses the following inputs to determine the strike prices:
ATR (Average True Range):
This measures the stock's volatility (how much the stock moves up or down over a given period).
A higher ATR = more volatile stock = wider range for strike prices.
Delta Adjustments:
The default settings use Delta values of 0.12 (Aggressive) and 0.18 (Moderate).
Delta is a concept in options trading that estimates the likelihood of the option being "in the money" (ITM) by expiration.
A 0.12 Delta = 12% chance of assignment (Aggressive)
A 0.18 Delta = 18% chance of assignment (Moderate)
Volatility Factor:
This multiplies the ATR by a factor (default is 1.5) to estimate the expected price move and adjust strike prices accordingly.
How to Use the Indicator:
Step 1: Understand the Labels
Red Label (Aggressive Strike):
Closer to the current stock price.
You’ll collect higher premiums because the strike price is riskier (closer to being ITM).
Best for traders comfortable with a higher risk of assignment.
Blue Label (Moderate Strike):
Further from the current stock price.
You’ll collect lower premiums because the strike price is safer (further from being ITM).
Best for traders looking to avoid assignment and collect safer weekly income.
Step 2: Match It to the Options Chain
Open your options chain (like the one you see in Fidelity, TOS, or TradingView).
Look for the strike prices closest to the red (aggressive) and blue (moderate) labels plotted by the indicator.
Compare the premiums (the amount you collect for selling the call) and decide:
If you want higher income: Go with the Aggressive Strike.
If you want safety: Go with the Moderate Strike.
Step 3: Manage Your Risk and Income
Avoid Assignment:
If you do not want your shares to be called away, choose strike prices further from the current price (e.g., moderate strike).
Maximize Premiums:
If you’re okay with a chance of your shares being called away, choose the closer aggressive strike for higher premium income.
Weekly Income Goal:
Use this strategy consistently each week to collect premium income while holding your shares.
Step 4: Adjust for Your Risk Tolerance
You can adjust the Delta values (0.12 for Aggressive and 0.18 for Moderate) to suit your risk tolerance:
Lower Delta (e.g., 0.08–0.10): Safer, fewer chances of assignment, lower premiums.
Higher Delta (e.g., 0.20–0.25): Riskier, higher chances of assignment, higher premiums.
Technical Analysis Summary (What the Indicator Uses):
The indicator uses ATR (Average True Range) to measure volatility and estimate how far the price might move.
It then multiplies ATR by a Volatility Factor to calculate the strike prices.
Using the Delta Adjustment settings, it adjusts these strike prices to give you a balance between risk and reward.
Putting It All Together:
Look at the Chart: The indicator will show two lines and labels for strike prices.
Check the Options Chain: Find the closest strike prices and compare premiums.
Decide Your Strategy:
Want higher premium income? Choose the Aggressive Strike (red label).
Want lower risk of assignment? Choose the Moderate Strike (blue label).
Collect Weekly Income: Sell the call option and repeat this process weekly to generate consistent income.
Happy trading, and may your premiums roll in while your shares stay safe! 🎯📊
Weekly Open LineThis indicator displays the weekly open price on the chart. It automatically updates every Monday to reflect the opening price of the current week. A dashed line is drawn to indicate the weekly open, and a label stating "Monday" is shown on each Monday for easy identification.
Features:
Automatically calculates the weekly open on Mondays.
Displays a dashed line at the weekly open price.
Labels the weekly open with the text "Monday" for visibility.
Indikator ini menampilkan harga open mingguan di grafik. Indikator ini secara otomatis diperbarui setiap hari Senin untuk mencerminkan harga pembukaan minggu berjalan. Garis putus-putus digambar untuk menunjukkan open mingguan, dan sebuah label yang menyatakan "Moday" ditampilkan setiap hari Senin untuk memudahkan identifikasi.
Weekly Bullish Pattern DetectorThis script is a TradingView Pine Script designed to detect a specific bullish candlestick pattern on the weekly chart. Below is a detailed breakdown of its components:
1. Purpose
The script identifies a four-candle bullish pattern where:
The first candle is a long green (bullish) candlestick.
The second and third candles are small-bodied candles, signifying consolidation or indecision.
The fourth candle is another long green (bullish) candlestick.
When this pattern is detected, the script:
Marks the chart with a visual label.
Optionally triggers an alert to notify the trader.
2. Key Features
Overlay on Chart:
indicator("Weekly Bullish Pattern Detector", overlay=true) ensures the indicator draws directly on the price chart.
Customizable Inputs:
length (Body Size Threshold):
Defines the minimum percentage of the total range that qualifies as a "long" candle body (default: 14%).
smallCandleThreshold (Small Candle Body Threshold):
Defines the maximum percentage of the total range that qualifies as a "small" candle body (default: 10%).
Candlestick Property Calculations:
bodySize: Measures the absolute size of the candle body (close - open).
totalRange: Measures the total high-to-low range of the candle.
bodyPercentage: Calculates the proportion of the body size relative to the total range ((bodySize / totalRange) * 100).
isGreen and isRed: Identify bullish (green) or bearish (red) candles based on their open and close prices.
Pattern Conditions:
longGreenCandle:
Checks if the candle is bullish (isGreen) and its body percentage exceeds the defined length threshold.
smallCandle:
Identifies small-bodied candles where the body percentage is below the smallCandleThreshold.
consolidation:
Confirms the second and third candles are both small-bodied (smallCandle and smallCandle ).
Bullish Pattern Detection:
bullishPattern:
Detects the full four-candle sequence:
The first candle (longGreenCandle ) is a long green candle.
The second and third candles (consolidation) are small-bodied.
The fourth candle (longGreenCandle) is another long green candle.
Visualization:
plotshape(bullishPattern):
Draws a green label ("Pattern") below the price chart whenever the pattern is detected.
Alert Notification:
alertcondition(bullishPattern):
Sends an alert with the message "Bullish Pattern Detected on Weekly Chart" whenever the pattern is found.
3. How It Works
Evaluates Candle Properties:
For each weekly candle, the script calculates its size, range, and body percentage.
Identifies Each Component of the Pattern:
Checks for a long green candle (first and fourth).
Verifies the presence of two small-bodied candles (second and third).
Detects and Marks the Pattern:
Confirms the sequence and marks the chart with a label if the pattern is complete.
Sends Alerts:
Notifies the trader when the pattern is detected.
4. Use Cases
This script is ideal for:
Swing Traders:
Spotting weekly patterns that indicate potential bullish continuations.
Breakout Traders:
Identifying consolidation zones followed by upward momentum.
Pattern Recognition:
Automatically detecting a commonly used bullish formation.
5. Key Considerations
Timeframe: Works best on weekly charts.
Customization: The thresholds for "long" and "small" candles can be adjusted to suit different markets or volatility levels.
Limitations:
It doesn't confirm the pattern's success; further analysis (e.g., volume, support/resistance levels) may be required for validation
Weekly Stacked Daily Changes [LuxAlgo]The Weekly Stacked Daily Changes tool allows traders to compare daily net price changes for each day of the week, stacked by week. It provides a very convenient way to compare daily and weekly volatility at the same time.
🔶 USAGE
The tool requires no configuration and works perfectly out of the box, displaying the net price change for each day of the week as stacked boxes of the appropriate size.
Traders can adjust the width of the columns and the spacing between days and weeks, options to change the color and disable the months and new month lines are also available.
🔹 Bottom Stack Bias
This feature allows traders to compare weekly volatility in two different ways.
With this feature disabled, all weeks use zero as the bottom of the stack, so traders can see at a glance weeks with more volatility and weeks with less volatility.
Enabling this feature will cause the tool to display the stacks with the weekly net price change as the bottom, so if a stack starts below the zero line it means that week has a negative net return, and if it starts above the zero line it means that week has a positive net return.
🔶 SETTINGS
Width: Select the fixed width for each column.
Offset: Choose the fixed width between each column.
Spacing: Select the distance between each day within each column.
🔹 Style
Bottom Stack Bias: Use weekly net price change as the bottom of the stack.
Bullish Change: Color for days with positive net price change
Bearish Change: Color for days with negative net price change
Show Months: Under each week stack, display the month
Show Months Delimiter: Display a line indicating the start of a new month
Weekly & Daily High/Low AnalyzerOverview
The Weekly & Daily High/Low Analyzer indicator is designed to analyze the likelihood of achieving the High or Low of the day or week based on user-specified parameters. This tool is ideal for traders who want to identify potential turning points in the market by examining historical data.
Features
Weekly High/Low Analysis: Available exclusively on the daily timeframe, this feature allows users to analyze past weeks to determine the probability of reaching the weekly high or low. Users can specify the number of weeks to analyze via the "Number of Weeks to Calculate" input field. Setting this field to 0 includes all available historical data. Note that the current week is excluded from the analysis as it is incomplete, and weekends (Saturdays and Sundays) are not analyzed.
Daily High/Low Analysis: Available exclusively on the 1-hour timeframe, this feature analyzes past days to determine the probability of reaching the daily high or low. Users can specify the number of days to analyze via the "Number of Days to Calculate" input field. Setting this field to 0 includes all available historical data. The current day is excluded from the analysis as it is incomplete, and weekends (Saturdays and Sundays) are not analyzed.
Visualization
A table is displayed in the top right corner of the chart, showing the results of the analysis. The table highlights the hours or days with the highest probabilities in darker colors for easy identification.
How It Works
Weekly Analysis: On the daily timeframe, the script analyzes each week's high and low points. It differentiates between bullish and bearish weeks and calculates the probability of reaching the high or low on each day of the week (Monday to Friday).
Daily Analysis: On the 1-hour timeframe, the script examines the high and low points of each trading day. It differentiates between bullish and bearish days and calculates the probability of reaching the high or low at each hour of the trading day.
Inputs
Number of Weeks to Calculate: An integer input that determines the number of past weeks to include in the analysis. Setting this to 0 includes all historical data.
Number of Days to Calculate: An integer input that determines the number of past days to include in the analysis. Setting this to 0 includes all historical data.
Calculation and Display
The indicator uses arrays to count the occurrences of highs and lows on bullish and bearish weeks and days.
Probabilities are calculated and displayed in a table, with each row representing a day (for weekly analysis) or an hour (for daily analysis).
Colors in the table indicate the strength of the probability, making it easy to identify significant patterns.
Implementation
The script includes detailed logic for resetting values at the start of a new week or day, capturing opening and closing prices, and counting occurrences of highs and lows. The table displays data in a user-friendly format, with gradient colors indicating the probability strength.
Example Usage
Swing Traders: Can use the weekly analysis to identify potential high or low points for the week, aiding in setting entry or exit points.
Day Traders: Can use the daily analysis to determine the most likely hours for reaching the high or low of the day, optimizing intraday trading strategies.
Additional Information
This indicator is inspired by the knowledge shared by Omor and aims to provide traders with a statistical edge in predicting market movements.
Weekly Put SaleWeekly Put Sale
This study is a tool I use for selling weekly puts at the suggested strike prices.
1. The suggested strike prices are based on the weekly high minus an ATR multiple which can be adjusted in the settings
2. You can also adjust the settings to Monthly strike prices if you prefer selling options further out
3. I suggest looking for Put sale premium that is between 0.25% to 0.75% of the strike price for weekly Puts and 1% to 3% of the strike price for monthly Puts
Disclaimers: Selling Puts is an advanced strategy that is risky if you are not prepared to acquire the stock at the strike price you sell at on the expiration date. You must make your own decisions as you will bear the risks associated with any trades you place. To sum it up, trading is risky, and do so at your own risk.
Weekly Sentiment AnalysisThis script plots weekly scores derived from sentiment analysis and computes some stats on the history.
While this can be viewed on any timeframe, the stats are best viewed on the Daily timeframe, weekly and intraday charts produce some discrepancies.
Columns show the weekly score. If the column is blue, the high/low of that candle surpassed the target price.
White bars in the columns show the % change from the open price to the high of that candle.
Horizontal line shows the % above the weekly open that must be reached for a win.
The display after the most recent week shows stats across all weeks.
Skips is the percent of weeks that were skipped because they didn't meet the score threshold
Total Wins is the number of wins divided by the number of non-skipped weeks
Long Wins is the number of long wins divided by the number of non-skipped weeks
Short Wins is the number of short wins divided by the number of non-skipped weeks
Best Move is the number of weeks where the score predicted the biggest move, even if target wasn't hit, divided by the total number of weeks
Double Win is the number of weeks where both the Long and Short targets were hit, divided by the total number of weeks
Settings
The first section of inputs define how much each type of sentiment is weighted.
The second section defines the win criteria. By default the daily ATR(average true range) is used to define a percent above or below the opening price that the price much reach during the week in order to be considered a win.
ATR Lookback : How many days back the ATR is average over.
Long ATR Multiplier : ATR is multiplied by this value and added to the opening price to get the target price for longs.
Short ATR Multiplier ATR is multiplied by this value and subtracted from the opening price to get the target price for shorts.
Use Multipliers as fixed % targets : If true, uses the multipliers as a fixed % above/below the opening price to define the target price.
The third section is everything else...
Score Threshold for Longs : The week is skipped if the score is less than the threshold.
Score Threshold for Shorts : The week is skipped if the score is greater than threshold.
Instrument Type : To accurately track session opens and closes, the value must be set to Stocks if looking at stock tickers, Futures if looking at futures or forex tickers, and Crypto if looking at crypto tickers.
Weekly ManipulationUnderstanding the "Weekly Manipulation" Indicator
The "Weekly Manipulation" indicator is a powerful tool designed to identify false breakouts in the market—moments. Let me explain how it works in simple terms.
What This Indicator Detects
This indicator spots two specific market behaviors that often indicate manipulation:
1. Single-Day Manipulation (Red/Green Labels)
This occurs when price briefly breaks through a significant daily level but fails to maintain the momentum:
Bearish Manipulation (Red): Price pushes above the previous day's high, but then reverses and closes below that high.
Bullish Manipulation (Green): Price drops below the previous day's low), but then reverses and closes above that low.
2. Two-Day Manipulation (Black Labels)
This is a more complex version of the same pattern, but occurring over a 2-day period. These signals can indicate even stronger manipulation attempts and potentially more powerful reversals.
Why This Matters for Your Trading
By identifying these patterns, you can:
- Avoid getting caught in false breakouts
- Find potential entry points after the manipulation is complete
- Understand when market action might not be genuine price discovery
How to Use This Indicator
1. Look for Red Markers: These appear when price has attempted to break higher but failed. This often suggests bearish potential going forward.
2. Look for Green Markers: These appear when price has attempted to break lower but failed. This often suggests bullish potential going forward.
3. Pay Attention to Black Markers: These 2-day patterns can signal stronger reversals and might be worth giving extra weight in your analysis.
The indicator labels these patterns clearly as "Manipulation" right on your chart, giving you an immediate visual cue when these potential setups occur.
Weekly Change(Green&Red) & Percentage Change(Blue&Yellow)Display bar chart of weekly price action. Use to determine the maximum price change in one week. It would be the possible strike price for a covered call option for weekly income.
Weekly Trading StrategyStrategy Overview:
This trading strategy is designed for short-term trades over weekly intervals, utilizing the combination of Simple Moving Averages (SMA) for trend identification and the Relative Strength Index (RSI) for overbought/oversold conditions. It aims to capitalize on momentum shifts while mitigating the risk of entering a market at extreme points.
Key Components:
Fast SMA (9 periods): Acts as a short-term trend indicator, providing insights into quick price changes.
Slow SMA (21 periods): Represents a longer-term trend, smoothing out price fluctuations to show a more stable trend line.
RSI (14 periods): An oscillator that measures the speed and change of price movements, helping to identify potential reversal points.
Entry Signals:
Buy Signal:
Condition 1: The fast SMA (9 periods) crosses above the slow SMA (21 periods), indicating a potential upward trend shift.
Condition 2: RSI falls below 30, suggesting the asset is potentially oversold and due for a correction upwards.
Sell Signal:
Condition 1: The fast SMA crosses below the slow SMA, signaling a possible downward trend shift.
Condition 2: RSI climbs above 70, indicating the asset might be overbought and could pull back.
Strategy Execution:
Timeframe: This strategy is optimized for a weekly chart (W), where each bar or candle represents one week of trading data.
Alert System: Alerts can be set up for buy and sell signals, allowing traders to react promptly to market conditions without constant chart monitoring.
Risk Management:
This strategy includes inherent risk management by avoiding trades when the market shows extreme conditions via RSI. However, traders should also consider:
Position sizing based on account size and risk tolerance.
Setting stop-loss orders to manage potential losses if the market moves against the position.
Considering additional market analysis or indicators for confirmation before executing trades.
Considerations:
Backtesting: Before live trading, backtest the strategy on historical data to assess performance across different market conditions.
Adaptation: Market dynamics change, so periodic review and adjustment of SMA periods and RSI thresholds might be necessary.
Complementary Analysis: Enhance this strategy with fundamental analysis or other technical indicators for a more robust trading approach.
This strategy is suited for traders looking for weekly swings in the market, balancing between following the trend and spotting potential reversals. However, like all trading strategies, it should not be used in isolation but as part of a broader trading plan.
Weekly and daily separators - MKThis indicator is designed to provide easier usability and greater customization for traders. The update brings enhanced stability and reliability in detecting day, week, and month changes across various timeframes, ensuring consistent and accurate visuals on your charts.
Key Features:
Time Zone Customization: Select the time zone to determine when session changes are marked.
Adjustable Line Coverage: Lines can now be customized to only partially cover the top and bottom of the chart, offering a cleaner look.
Optional Labels: Enable labels to display the starting month, calendar week, or day. Day formats include:
Weekday name
Date in formats: dd.MM or MM.dd
Visual Enhancements:
Default line widths and colors now use an orange hue for better visibility.
Added a monthly separator line for better long-term trend tracking.
Higher time frame color options for clarity.
Independent customization of line styles and widths.
Additional Improvements:
Ability to hide daily lines on daily charts and higher timeframes. Similarly, weekly lines can be hidden on weekly charts and higher.
Secondary line width for weekly separators on daily and higher timeframes, ensuring cleaner chart aesthetics.
Updated color selection and default values for better readability.
Weekly Change % This script shows Weekly Change % in Histogram. Start date of Week is Friday and End date of Week is Thursday. This script is useful for trade who deal with Weekly Options in Nifty and Bank Nifty
Weekly Options Expiry CandleThis script shows weekly expiry candle on daily chart. In weekly expiry, week starts on Friday and end on next Thursday.
How the candle is constructed:
Open= Open price of Friday, if Friday is a holiday, next available open price
High= Highest high price of Friday, Monday, Tuesday, Wednesday, Thursday
Low= Lowest low price of Friday, Monday, Tuesday, Wednesday, Thursday
Close=Close price of Thursday, if Thursday is a holiday, previously available close price
I am very new to Pine script, so waiting for your comments and review.
Weekly & Daily SMA 50/100/200The daily and weekly simple moving averages (SMA) are displayed in all timeframes.
The SMAs can be used for support and resistance. The lines of the past 50, 100 and 200 days and weeks are considered strong supports and resistances.
The daily lines are yellow and the weekly lines are green. The thicker and more visible a line is, the more important it is in the chart.
Weekly OpenHere we draw each weekly open using the new lines feature of Pine Script v4, inspired by Ultra Kzilla's Weekly Open strategy.
Pivot Points Weekly - bitcoin by Simon-RoseWeekly Version:
I have written 3 Indicators because i couldn't find what i was looking for in the library, so you can turn each one on and off individually for better visibility.
This are Daily, Weekly and Monthly Pivot Points with their Resistance and Support Points
and also on the Daily with the range between them.
I will also publish some Ideas to show you how to use them if you are not familiar with the traditional pivot points strategy already.
Unlike the usually 3 support & resistances i added 4 of them, specifically for trading bitcoin (on traditional markets this level of volatility usually never gets touched)
Here you can see which lines are what for reference, as the Feature to label lines is missing in Pinescript (if you have a workaround pls tell me ;) )
This is the basic calculation used :
PP = (xHigh+xLow+xClose) / 3
R1 = vPP+(vPP-Low)
R2 = vPP + (High - Low)
R3 = xHigh + 2 * (vPP - Low)
R4 = xHigh + 3 * (vPP - Low)
S1 = vPP-(High - vPP)
S2 = vPP - (High - Low)
S3 = xLow - 2 * (High - PP)
S4 = xLow - 3 * (High - PP)
If you have any questions or suggestions pls write me :)
Happy trading
Cheers
Daily Version:
Monthly Version:
Weekly High/Low + Breakout Probabilities (Debug Fixed)This script will tell you which day created the high or low of the week, the probability of it being that day and the probability that a day will break last weeks H/L
Weekly & Monthly Highs/Lows + AlertsOverview
This indicator automatically plots key horizontal price levels from both the weekly and monthly timeframes directly onto your chart. It identifies the high and low of the current and previous week, as well as the current and previous month.
The indicator is designed to be clean and efficient, featuring intelligent labels that prevent chart clutter and a comprehensive alert system to notify you of key price action.
Key Features
1. Automatic High/Low Plotting
The core function is to draw horizontal lines for eight significant price levels, providing a clear visual map of higher-timeframe support and resistance. The levels plotted are:
CWH: Current Week's High
CWL: Current Week's Low
PWH: Previous Week's High
PWL: Previous Week's Low
CMH: Current Month's High
CML: Current Month's Low
PMH: Previous Month's High
PML: Previous Month's Low
2. Intelligent Label Grouping
To keep your chart clean and readable, the indicator automatically detects if multiple levels (e.g., Previous Week's High and Current Month's High) are at the exact same price. Instead of drawing overlapping lines and labels, it draws a single line and combines the labels (e.g., PWH / CMH).
3. Comprehensive Alert System
You can set up alerts for when the price crosses any of the eight plotted levels. The script includes 16 pre-configured alert conditions:
A "Cross Up" alert for each of the 8 levels (e.g., "Cross Up: CWH").
A "Cross Down" alert for each of the 8 levels (e.g., "Cross Down: CWH").
To use them, simply create a new alert on your chart, select this indicator from the "Condition" dropdown, and choose the specific price cross you want to be notified about.
4. Full Visual Customization
You can easily modify the appearance of the lines and labels to match your personal chart theme and preferences. The settings menu includes options for:
Line Color: Change the color of all horizontal lines.
Line Width: Adjust the thickness of the lines.
Line Style: Choose between Solid, Dashed, or Dotted lines.
Label Text Color: Set the color of the label text.
Label Background Color: Customize the background color of the labels.
Label Size: Select from a range of text sizes, from Tiny to Huge.
Weekly Signals Stochastic Oscillator 14, 1, 3 (Roman)This indicator shows Weekly Sell / Buy Signals based on Stochastic Oscillator curves (14, 1, 3) in the overpriced and underpriced zones. (You can also set Alarms with this Script). Feel free to use the script code :-).
