Forex - Lot size calculatorThis indicator is specifically designed for Forex traders who need a convenient lot size calculator directly on their charts. It allows users to input their account balance, risk percentage, and stop-loss distance in pips to easily determine the appropriate lot size for a given trade, ensuring effective risk management.
Key Features:
Lot Size Calculation: Automatically calculates the lot size based on user-defined inputs: account balance, risk percentage, and stop-loss distance.
Error Handling: The indicator only works with Forex pairs. If applied to non-Forex assets, a clear and prominent red error message will appear in the bottom-right corner of the chart, reminding the user that this script is intended exclusively for Forex trading.
Simple Visualization: The calculated lot size is displayed in an easy-to-read table directly on the chart.
How to Use:
Add the indicator to a Forex chart.
Enter your account balance, risk percentage, and stop-loss pips in the input fields.
The indicator will display the calculated lot size for the chosen Forex pair.
Important Notes:
This script is intended only for Forex assets. If used on other instruments (e.g., stocks, crypto, indices), an error message will be shown.
Always validate lot sizes with your broker, as there can be slight variations depending on broker specifications and leverage settings.
Statistics
Triangular Arbitrage [Starbots]Triangular arbitrage in crypto refers to a trading strategy that exploits price discrepancies between three different cryptocurrencies or currency pairs on the same exchange.
The idea is to make a series of trades that ultimately result in a profit without the risk typically involved in trading. It works by taking advantage of the inefficiencies in the pricing of cryptocurrency pairs.
Here’s how it works:
Identify the Discrepancy: A trader finds a pricing mismatch between three cryptocurrencies. For example, they identify that the exchange rates between BTC/ETH, ETH/USDT, and BTC/USDT pairs are not aligned in a way that satisfies arbitrage-free conditions.
Three Trades:
Trade 1: Start with one cryptocurrency, say USDT (Tether).
Trade 2: Use USDT to buy ETH.
Trade 3: Use ETH to buy BTC.
Final Trade: Finally, convert the BTC back into USDT.
Profit: If the exchange rates between these pairs are out of sync, the trader can end up with more USDT (or the initial cryptocurrency) than they started with. This is because the temporary price inefficiency allowed them to buy low and sell high across different pairs.
Example:
Initial position: You have 10,000 USDT.
Step 1: You buy ETH with USDT (at a rate of 1 ETH = 2000 USDT), getting 5 ETH.
Step 2: You buy BTC with ETH (at a rate of 1 BTC = 2.5 ETH), getting 2 BTC.
Step 3: You sell BTC back for USDT (at a rate of 1 BTC = 5200 USDT), getting 10,400 USDT.
This results in a profit of 400 USDT after completing the cycle, assuming no fees or slippage.
Key Points:
Risk-Free (In Theory): In theory, triangular arbitrage is risk-free because you’re taking advantage of price discrepancies and not market trends.
High Speed Required: Since the inefficiencies in the crypto market are usually very short-lived, this strategy often requires bots or automated systems to execute trades quickly.
Fees and Slippage: In reality, exchange fees, trading volume, and slippage (the difference between the expected price and the actual execution price) can eat into profits and should be carefully considered.
Triangular arbitrage opportunities arise in crypto markets due to the high volatility and fragmentation across different trading pairs and exchanges.
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Recommended Binance pairs: DOGE/BTC, TRX/BTC, LINK/BTC, RUNE/BTC, FET/BTC, WIF/BTC,.. Make sure they have big daily volume when you swap them.
You typically have 30 seconds to 2 minutes to complete all three orders, but the main challenge is slippage, especially if the trading volume is low.
<>How to use indicator?
For example, open the DOGE/BTC chart on Binance and set the timeframe to 30 seconds or 1 minute.
In the first input, enter DOGE/USDT, the symbol that's on the left of your slash (DOGE/BTC), and in the second, enter BTC/USDT, the symbol that's on the right of your slash (DOGE/BTC).
Next, select the investment and commissions option.
Indicator will automatically calculate the discrepancies between these three different cryptocurrency pairs and show you when it's profitable to trade it on the chart.
Follow the indicator's suggested orders and capitalize on the price discrepancies between the three cryptocurrencies on the same exchange. This is how Triangular Arbitrage work.
GBP Index vs CAD Index Currency OscillatorGBP vs CAD Currency Oscillator
This custom oscillator compares the relative strength of GBP (British Pound) and CAD (Canadian Dollar) against a basket of other currencies to determine potential overbought and oversold conditions. The indicator is designed to help traders evaluate momentum shifts and identify possible trend reversals between these two currencies, not just the GBPCAD pair.
How it Works:
Currency Index Calculation:
The oscillator calculates the average percentage change in 7 key GBP pairs (GBPUSD, EURGBP, GBPJPY, GBPAUD, GBPNZD, GBPCAD, and GBPCHF).
Similarly, it calculates the average percentage change for 7 key CAD pairs (USDCAD, EURCAD, CADJPY, AUDCAD, NZDCAD, GBPCAD, and CADCHF).
Stochastic Oscillator:
The indicator calculates a 0-100 oscillator for both the GBP and CAD currency indices based on the highest high and lowest low over a user-defined lookback period (default is 14 anlthough 60 works great on 1m chart).
The oscillator is smoothed using a simple moving average (default smoothing period is 3) to reduce noise and improve visual clarity.
Overbought/Oversold Conditions:
Overbought: When both the GBP and CAD oscillators exceed 80, the background turns red, indicating potential overbought conditions.
Oversold: When both oscillators fall below 20, the background turns green, signaling possible oversold conditions.
Crossovers:
When the GBP oscillator crosses above the CAD oscillator, a green dot appears at the bottom of the chart, signaling potential GBP strength.
When the GBP oscillator crosses below the CAD oscillator, a red dot appears, signaling potential CAD strength.
How to Use:
Overbought/Oversold Conditions: Use the red and green background highlights to spot potential overbought or oversold market conditions, helping you identify possible turning points.
Customization Options:
Lookback Period: You can adjust the lookback period for the stochastic calculation, allowing for sensitivity tuning (default: 14).
Smoothing Period: Control the degree of smoothing applied to the oscillators (default: 3).
This oscillator is ideal for traders focused on trading GBP and CAD pairs, offering a comparative analysis that can assist in better decision-making based on relative currency strength.
Double BBW OverlayDouble BBW Overlay Indicator
Overview
The Double BBW (Bollinger Band Width) Overlay indicator is a custom script for TradingView that combines two BBW indicators with adjustable settings. It allows traders to compare the volatility of two different periods of Bollinger Bands on the same chart. By default, the first BBW is calculated with a 10-period center line, and the second BBW with a 20-period center line, but these values can be customized.
How It Works
Bollinger Bands consist of an upper band, a lower band, and a middle band (typically a moving average). The Bollinger Band Width (BBW) measures the distance between the upper and lower bands relative to the center line. The width of these bands indicates market volatility:
Narrow Bands: Low volatility, usually preceding a breakout.
Wide Bands: High volatility, often following a strong price movement.
This indicator plots two BBW values on a non-overlay chart, making it easy to visualize and compare different market conditions over different periods.
Indicator Components
BBW 1 (default period: 10)
Calculates the BBW using a center line based on a 10-period moving average.
The width is plotted in blue by default.
BBW 2 (default period: 20)
Calculates the BBW using a center line based on a 20-period moving average.
The width is plotted in red by default.
Zero Line
A gray horizontal line at the value of 0 for reference, helping to understand the scale of BBW values.
Input Parameters
Center Line Period for BBW 1 (length1)
Default: 10
This controls the length of the moving average for the first BBW calculation. It defines how many periods are used to calculate the middle Bollinger Band for BBW 1.
Center Line Period for BBW 2 (length2)
Default: 20
This controls the length of the moving average for the second BBW calculation. It defines how many periods are used to calculate the middle Bollinger Band for BBW 2.
Standard Deviation Multiplier (mult)
Default: 2.0
This controls how far the upper and lower Bollinger Bands are from the center line. The multiplier affects how sensitive the Bollinger Bands are to price changes, with higher values producing wider bands.
How to Use
Adding the Indicator: Once the script is added to your TradingView account, simply apply the indicator to any chart. It will be displayed as a separate pane below the price chart, showing two BBW lines corresponding to the two different periods.
Customizing Periods: Use the settings panel to adjust the center line periods for BBW 1 and BBW 2 to match your desired trading strategy. For instance, you can analyze short-term versus long-term volatility by adjusting the periods.
Volatility Analysis:
When both BBW lines are narrow, it indicates low volatility across both short-term and long-term periods, which could suggest that a breakout is imminent.
If both BBW lines widen simultaneously, it shows that volatility is increasing in both timeframes, possibly indicating a strong trend.
Use Cases
Breakout Strategy: When the BBW lines contract significantly, it may signal that a low-volatility period is about to end, which is often followed by a price breakout in either direction.
Trend Strength: Comparing short-term and long-term BBW values can help determine if recent price movements are supported by broader market volatility or if they are isolated to the short term.
Chart Display
BBW 1: Blue line, representing the Bollinger Band Width calculated with a center line period of 10 (or your customized value).
BBW 2: Red line, representing the Bollinger Band Width calculated with a center line period of 20 (or your customized value).
Zero Line: A gray line at 0 is provided for reference, although BBW values are always positive.
Advantages of Using Double BBW
Comprehensive View of Volatility: By overlaying two BBW indicators with different timeframes, you can gain insights into both short-term and long-term market volatility trends.
Customizable: You can easily adjust the moving average periods and the standard deviation multiplier to match your preferred trading strategy or the characteristics of the asset you are trading.
Easy Visualization: The separate plots of BBW values make it easier to see shifts in market volatility, allowing you to spot potential trading opportunities.
Entry Weight Indicator(Dual Labels)이 지표는 트레이더가 동적으로 진입 비중을 결정할 수 있도록 도와주는 도구입니다. 이전 캔들의 종가를 기준으로 두 가지 다른 진입 비중을 계산하여 표시합니다.
주요 특징:
1. 두 가지 진입 비중 계산:
- 저점 기준 (EW Long): 이전 캔들 종가와 룩백 기간 내 최저가 사이의 거리를 기준으로 계산
- 고점 기준 (EW Short): 이전 캔들 종가와 룩백 기간 내 최고가 사이의 거리를 기준으로 계산
2. 시각적 표시:
- 초록색 라벨 (EW Long): 캔들 위에 표시
- 빨간색 라벨 (EW Short): 캔들 아래에 표시
- 룩백 기간 내 최고가와 최저가를 녹색과 빨간색 선으로 표시
3. 사용자 정의 파라미터:
- 원하는 손실 비율 (Desired Loss Percentage)
- 레버리지 (Leverage)
- 룩백 기간 (Lookback Period)
4. 추가 정보 표시:
- 차트 우측 상단에 이전 종가, 최고가, 최저가, 손실 비율 등의 정보를 표시
사용 방법:
1. 원하는 손실 비율, 레버리지, 룩백 기간을 설정합니다.
2. 차트에 표시되는 라벨을 통해 각 캔들에 대한 두 가지 진입 비중을 확인합니다.
3. EW Long (초록색)은 Long 진입 시 비중을, EW Short (빨간색)는 Short 진입 시 비중을 나타냅니다.
주의: 이 지표는 투자 시 직접적인 성과를 가져다주는 지표가 아니며, 실제 거래 결정 시에는 다른 분석 도구와 함께 사용하는 것이 좋습니다.
This indicator is a tool that helps traders dynamically determine their entry weight. It calculates and displays two different entry weights based on the closing price of the previous candle.
Key features:
1. Calculation of two entry weights:
- Low-based (EW Long): Calculated based on the distance between the previous candle's close and the lowest price within the lookback period
- High-based (EW Short): Calculated based on the distance between the previous candle's close and the highest price within the lookback period
2. Visual display:
- Green label (EW Long): Displayed above the candle
- Red label (EW Short): Displayed below the candle
- Highest and lowest prices within the lookback period are shown as green and red lines
3. User-defined parameters:
- Desired Loss Percentage
- Leverage
- Lookback Period
4. Additional information display:
- Information such as previous close, highest price, lowest price, and loss percentage is displayed in the upper right corner of the chart
How to use:
1. Set the desired loss percentage, leverage, and lookback period.
2. Check the two entry weights for each candle through the labels displayed on the chart.
3. EW Long (green) represents the entry weight for long positions, while EW Short (red) represents the entry weight for short positions.
Caution: This indicator does not directly lead to investment performance. When making actual trading decisions, it is advisable to use it in conjunction with other analytical tools.
EV Calculator [CHE]EV Calculator with Adjustable Boxes and Custom Colors for TradingView
Introduction:
As a trader, one of the key metrics you need to evaluate is the Expected Value (EV) of your trading strategy. Understanding EV helps you gauge whether your trades will be profitable in the long run. This TradingView script allows you to visualize your EV alongside customizable win rates and risk-to-reward ratios. With adjustable visual components, you can quickly determine whether your trading strategy has a positive or negative EV, and make informed decisions.
Features of the Script:
1. Customizable Inputs:
- Win Rate: Set your win probability (0.0 to 1.0), which represents how often your strategy is successful.
- Risk and Reward: Define how much you're risking and the potential reward for each trade.
2. Visual Representation:
- The script creates colored boxes representing different EV scenarios:
- Green Box: Indicates a good EV (>2), suggesting a highly profitable strategy.
- Yellow Box: Represents a neutral EV (between 0 and 2), where the strategy could work but is not optimal.
- Red Box: Shows a negative EV (<0), signaling that the strategy may lead to losses.
3. Adjustable Box Size:
- You can modify the width and height of the boxes to fit your chart display preferences, giving you better visual clarity based on your screen or chart style.
4. Dynamic Labels:
- Each bar in the chart includes dynamic labels showing:
- Win Rate: Displays the percentage chance of success.
- EV Value: Shows the calculated expected value based on the win rate and risk-reward ratio.
- Guide: Explains what each colored box means so that you can easily interpret the chart.
5. Scalability and Flexibility:
- The script only keeps a maximum of 20 recent entries, ensuring that your chart stays clean and organized.
- Both the number of labels and boxes adjust automatically to match your preferred settings, enhancing usability.
How the EV Calculation Works:
The formula for EV is based on a standard risk-to-reward model:
EV = (Win\ Rate \times Reward) - (Loss\ Probability \times Risk)
For example:
- If your win rate is 60% and your risk-to-reward ratio is 1:3, the script will calculate whether this strategy is expected to yield positive returns or result in long-term losses.
Example Use Case:
Let's say you are trading with a 60% win rate, risking 1 unit to gain 3 units. The script calculates that your EV is positive and represents this with a Green Box, showing you that your strategy has a high likelihood of being profitable. If your strategy slips and the win rate drops, the EV calculation will adjust, and you may see Yellow or Red Boxes, signaling a need for adjustment.
Final Thoughts:
This script is designed for traders who want to take their analysis beyond the basics. By providing real-time visualization of your EV, you can better assess whether your strategy is sound and make adjustments as needed.
How to Use:
- Adjust the input parameters for Win Rate, Risk, and Reward to match your trading strategy.
- Observe the colored boxes and labels to quickly understand if your current strategy is in a healthy EV zone.
- Use this visual feedback to refine your approach and stay on track towards profitability.
This tool simplifies the complex calculations behind EV and turns it into an intuitive and powerful decision-making aid for traders.
Now you're ready to integrate the EV Calculator with Adjustable Boxes and Custom Colors into your trading routine and start optimizing your strategies for long-term success!
Happy Trading and best regards Chervolino
Bias FinderCan we look at what happened yesterday in the market to predict what happens today?
Not really, but we can use simple historical statistics to help form a bias for todays market direction.
This indicator attempts to do just that. It is broken into 3 parts, none of which are related to each other, but taken together can help a trader improve the quality of their daily bias.
The first table simply groups all the daily win and loss streaks together and looks at the change of the next day after each streak.
The second table groups each day of the week then returns what percentage of those days were up, down and flat.
The bottom graphic compares the range of the last session with the current ATR.
The code then groups each session into either being larger or smaller than the current ATR.
Once that is determined, the close is classified into which quartile of the range it closed in. This means there are 8 different groups of closes. Once a close has been grouped, it is compared with all the other closes of the same group to return the historical change of the next day. So for example, a day might have a range inside the current ATR and have closed in the 3rd quartile of the range. From this we can determine the historical percentage of days that were up days after such a close.
The only important thing here is to decide if you want to use a close to close change IE an up day is when the close is higher than the previous close, or an open to close where, as the name suggests, the close is higher than the open for an up day.
The start date and start month can be used to eliminate any bad data and it is advisable to check the start of your dataset to make sure any data included in the statistics is stable and legitimate.
Hope you find this useful!
Stock Info By IT Wala
Purpose of the Indicator
The "Stock Info by IT Wala" indicator was created to display essential stock-related information directly on the chart in a clear and concise manner. This is helpful for traders who want to quickly access details about a stock without having to look them up separately. It is useful for all types of market participants, whether trading stocks, indices, or other financial instruments, and provides an overview of the stock’s attributes such as its country, exchange, industry, and more.
Key Features
Displays a table containing key stock data, such as the stock’s name, country of origin, exchange, industry, sector, and type.
Shows additional details such as stock description, currency, and time zone, all sourced directly from syminfo.
Overlay feature allows the table to appear on the chart itself, making the information easily accessible while analyzing price action.
The table is customizable for style, with a navy blue background, white text, and border customization to match different charting themes.
Inputs (User Parameters)
This indicator doesn't offer customizable user inputs since it automatically pulls stock information from TradingView’s syminfo system. It ensures simplicity in use, allowing traders to focus on the provided data.
Output (How to Read the Indicator)
The output of the "Stock Info by IT Wala" indicator is a table that appears on the chart, showing:
Stock: The stock’s root symbol, such as AAPL for Apple or TSLA for Tesla.
Country: The country where the stock is listed or operates primarily.
Exchange: The prefix of the stock's exchange (e.g., NASDAQ, NYSE).
Industry: The industry to which the stock belongs, such as Technology, Healthcare, or Finance.
Sector: The broader sector, like Consumer Goods or Energy.
Type: Indicates whether the asset is a stock, index, or another type of financial asset.
Description: A brief description of the company or asset.
Currency: The currency in which the stock is traded (e.g., USD, EUR).
Timezone: The timezone of the exchange where the stock is listed.
Best Practices for Usage
Timeframes: This indicator works well across all timeframes, as it only displays stock-related data and is not affected by time-based analysis.
Asset Classes: It’s best suited for use with stocks but can also be applied to other types of assets (such as indices or commodities) where syminfo data is available.
Usage: Use this indicator to quickly review stock information while analyzing price action or planning trades. It is particularly helpful for traders who want quick access to contextual information without switching between different tools.
Limitations and Disclaimers:
The information is sourced directly from TradingView's syminfo and is limited to the data provided by TradingView. If any information is missing or incorrect, it will reflect in the table.
The indicator is purely informational and does not provide any buy or sell signals. Traders should not rely solely on this indicator for decision-making.
Limitations: This indicator does not work for every asset class. For example, it may not display detailed information for cryptocurrencies or certain less common instruments.
Alerts:
This indicator does not include any alert functionality since it is meant to display static stock data, not trigger trading signals.
Customization Options:
Table Styling: While users can't adjust the data displayed, the indicator automatically applies a styled table with a navy blue background and white borders to ensure readability. Users can modify this part of the code if needed for better chart integration.
Backtesting and Performance:
Backtesting is not applicable here as the indicator provides static information about the stock rather than dynamic data or signals. Performance is based on the data retrieval capabilities of TradingView's syminfo feature.
Conclusion:
The "Stock Info by IT Wala" indicator provides traders with instant access to crucial stock-related data, allowing them to review key details about the asset they are analyzing without leaving the chart. By offering details such as stock name, exchange, sector, and more, it makes fundamental information conveniently accessible, enhancing the charting experience.
Disclaimer:
This indicator is for informational purposes only and does not provide trading advice or recommendations. The stock data is sourced from TradingView’s systems and should be cross-verified if used for making trading decisions. Always conduct your own research and consult financial experts before executing any trades.
Importance of Clarity and Transparency:
When publishing a script, especially one like this that provides essential stock information, it's important to clearly explain its purpose, limitations, and intended usage. A transparent description ensures users understand what the indicator does and how to use it effectively in their analysis, preventing confusion or misuse. Clear communication builds trust with your audience and encourages responsible use of the tool.
Heatmap Volume ProfileThe Volume Profile with Support/Resistance indicator is a powerful tool designed to help traders visually identify support and resistance zones based on volume analysis at specific price levels. Unlike traditional volume indicators that focus on time-based volume, this indicator analyzes the volume traded at various price levels, offering a clearer view of where the strongest buying and selling forces are concentrated.
Key Features:
Volume Heatmap: The indicator displays a colored heatmap that varies based on the volume traded at different price levels. "Hot zones" (red) indicate areas with high volume, while "cold zones" (blue) represent areas with low volume.
Automatic Detection of Support and Resistance Levels: In addition to the heatmap, the indicator automatically detects price levels where the volume reaches a significant threshold. These levels are marked with white lines on the chart, highlighting potential support and resistance zones.
Adjustable Granularity: The number of price bands can be adjusted, allowing for finer or broader volume analysis. This helps customize the analysis based on the volatility of the asset and the chosen time frame.
Configurable Analysis Period: The number of historical bars used for volume analysis can be defined by the user, enabling the analysis of short-term or long-term volume trends.
Customizable Support/Resistance Threshold: A parameter allows you to define the threshold at which a volume level is considered significant enough to be marked as support or resistance.
Indicator Parameters:
Number of Price Bands (Granularity):
This parameter controls how finely the price is divided into bands. The higher the number of bands, the more precise the volume analysis. The default is set to 50 bands.
Color Transparency:
This parameter adjusts the transparency of the heatmap colors, making it easier to read when overlaid on the price chart.
Number of Bars for Analysis:
Defines the historical period used for volume analysis. The default is 200 bars, but it can be adjusted based on your time frame and the asset being analyzed.
Volume Threshold for Support/Resistance:
This setting allows you to define the intensity of volume (between 0.1 and 1.0) necessary for a price level to be marked as support or resistance. This parameter ensures that only the most relevant levels are displayed.
Practical Use:
Identify Support and Resistance Zones: Traders can use the levels marked by this indicator to identify areas where significant volumes have been traded, signaling potential support or resistance. These zones are often where the market may reverse direction or confirm a trend.
Detect Congestion Zones: The heatmap allows traders to easily spot volume congestion zones, where prices tend to stall due to the high concentration of trading at those levels.
Improve Decision-Making: By combining price-level volume analysis, traders can better understand where the market’s key forces are located, allowing for more informed entry and exit strategies.
Example of Use:
Support: If a support line is detected at a price level with high volume, it may represent an area where buyers are heavily concentrated, making it more difficult for the price to break below that level.
Resistance: Conversely, a resistance line indicates a zone where sellers have a significant presence, suggesting that the price may struggle to move above that level without strong momentum.
Target Audience:
This indicator is ideal for:
Day traders looking to spot short-term reversal points based on volume concentration.
Swing traders identifying key zones to place limit orders or stops.
Long-term traders who want to analyze volume clusters over an extended period to determine critical levels to watch.
Conclusion:
The Volume Profile with Support/Resistance indicator is an essential tool for any trader looking to understand how volume behaves at each price level. With its intuitive visualizations and automatically marked levels, this indicator makes it easy to spot important support and resistance zones, helping traders optimize their strategies and anticipate market movements more effectively.
RSI (Kernel Optimized) | Flux Charts💎 GENERAL OVERVIEW
Introducing our new KDE Optimized RSI Indicator! This indicator adds a new aspect to the well-known RSI indicator, with the help of the KDE (Kernel Density Estimation) algorithm, estimates the probability of a candlestick will be a pivot or not. For more information about the process, please check the "HOW DOES IT WORK ?" section.
Features of the new KDE Optimized RSI Indicator :
A New Approach To Pivot Detection
Customizable KDE Algorithm
Realtime RSI & KDE Dashboard
Alerts For Possible Pivots
Customizable Visuals
❓ HOW TO INTERPRET THE KDE %
The KDE % is a critical metric that reflects how closely the current RSI aligns with the KDE (Kernel Density Estimation) array. In simple terms, it represents the likelihood that the current candlestick is forming a pivot point based on historical data patterns. a low percentage suggests a lower probability of the current candlestick being a pivot point. In these cases, price action is less likely to reverse, and existing trends may continue. At moderate levels, the possibility of a pivot increases, indicating potential trend shifts or consolidations.Traders should start monitoring closely for confirmation signals. An even higher KDE % suggests a strong likelihood that the current candlestick could form a pivot point, which could lead to a reversal or significant price movement. These points often align with overbought or oversold conditions in traditional RSI analysis, making them key moments for potential trade entry or exit.
📌 HOW DOES IT WORK ?
The RSI (Relative Strength Index) is a widely used oscillator among traders. It outputs a value between 0 - 100 and gives a glimpse about the current momentum of the price action. This indicator then calculates the RSI for each candlesticks, and saves them into an array if the candlestick is a pivot. The low & high pivot RSIs' are inserted into two different arrays. Then the a KDE array is calculated for both of the low & high pivot RSI arrays. Explaining the KDE might be too much for this write-up, but for a brief explanation, here are the steps :
1. Define the necessary options for the KDE function. These are : Bandwidth & Nº Steps, Array Range (Array Max - Array Min)
2. After that, create a density range array. The array has (steps * 2 - 1) elements and they are calculated by (arrMin + i * stepCount), i being the index.
3. Then, define a kernel function. This indicator has 3 different kernel distribution modes : Uniform, Gaussian and Sigmoid
4. Then, define a temporary value for the current element of KDE array.
5. For each element E in the pivot RSI array, add "kernel(densityRange.get(i) - E, 1.0 / bandwidth)" to the temporary value.
6. Add 1.0 / arrSize * to the KDE array.
Then the prefix sum array of the KDE array is calculated. For each candlestick, the index closest to it's RSI value in the KDE array is found using binary search. Then for the low pivot KDE calculation, the sum of KDE values from found index to max index is calculated. For the high pivot KDE, the sum of 0 to found index is used. Then if high or low KDE value is greater than the activation threshold determined in the settings, a bearish or bullish arrow is plotted after bar confirmation respectively. The arrows are drawn as long as the KDE value of current candlestick is greater than the threshold. When the KDE value is out of the threshold, a less transparent arrow is drawn, indicating a possible pivot point.
🚩 UNIQUENESS
This indicator combines RSI & KDE Algorithm to get a foresight of possible pivot points. Pivot points are important entry, confirmation and exit points for traders. But to their nature, they can be only detected after more candlesticks are rendered after them. The purpose of this indicator is to alert the traders of possible pivot points using KDE algorithm right away when they are confirmed. The indicator also has a dashboard for realtime view of the current RSI & Bullish or Bearish KDE value. You can fully customize the KDE algorithm and set up alerts for pivot detection.
⚙️ SETTINGS
1. RSI Settings
RSI Length -> The amount of bars taken into account for RSI calculation.
Source -> The source value for RSI calculation.
2. Pivots
Pivot Lengths -> Pivot lengths for both high & low pivots. For example, if this value is set to 21; 21 bars before AND 21 bars after a candlestick must be higher for a candlestick to be a low pivot.
3. KDE
Activation Threshold -> This setting determines the amount of arrows shown. Higher options will result in more arrows being rendered.
Kernel -> The kernel function as explained in the upper section.
Bandwidth -> The bandwidth variable as explained in the upper section. The smoothness of the KDE function is tied to this setting.
Nº Bins -> The Nº Steps variable as explained in the upper section. It determines the precision of the KDE algorithm.
China's stock market Limit up / Limit downThe price limit system in China’s stock market is a regulatory measure implemented by the Chinese securities authorities to curb excessive speculation. It refers to the maximum allowable daily price fluctuation of a stock, which cannot exceed a certain percentage of the previous trading day's closing price. For regular stocks, the daily price movement limit is 10%. For stocks under special treatment (ST stocks), the maximum daily price movement is restricted to 5%. There is no price limit on the listing day of newly issued stocks or stocks undergoing a rights issue. This indicator highlights the K-lines (candlesticks) of stocks that have hit the upper or lower price limits with different background colors and lists the recent number of instances of limit-up and limit-down occurrences in a table format.
Info DisplayThis indicator can display the code, time period and current date of the selected commodity in real time in the upper right corner of the screen.
The display size of the 3 display fonts can be adjusted in the options.
Winning and Losing StreaksThe Pine Script indicator "Winning and Losing Streaks" tracks and visualizes the length of consecutive winning and losing streaks in a financial series, such as stock prices. Here’s a detailed description of the indicator, including the relevance of statistical analysis and streak tracking.
Indicator Description
The "Winning and Losing Streaks" indicator in Pine Script is designed to analyze and display streaks of consecutive winning and losing days in trading data. It helps traders and analysts understand the persistence of trends in price movements.
Here’s how it functions:
Streak Calculation:
Winning Streak: A series of consecutive days where the closing price is higher than the previous day's closing price.
Losing Streak: A series of consecutive days where the closing price is lower than the previous day's closing price.
Doji Candles: The indicator also considers Doji candles, where the difference between the opening and closing prices is minimal relative to the high-low range, and excludes these from being counted as winning or losing days.
Statistical Analysis:
The indicator computes the maximum and average lengths of winning and losing streaks.
It also tracks the current streak lengths and maintains arrays to store the historical streak data.
Visualization:
Histograms: Winning and losing streaks are visualized using histograms, which provide a clear graphical representation of streak lengths over time.
Relevance of Statistical Analysis and Streak Tracking
1. Statistical Significance of Streaks
Tracking winning and losing streaks has significant statistical implications for trading strategies and risk management:
Autocorrelation: Streaks in financial time series can reveal autocorrelation, where past returns influence future returns. Studies have shown that financial time series often exhibit autocorrelation, which can be used to forecast future price movements (Lo, 1991; Jegadeesh & Titman, 1993). Understanding streaks helps in identifying and leveraging these patterns.
Behavioral Finance: Streak analysis aligns with concepts from behavioral finance, such as the "hot-hand fallacy," where investors may perceive trends as more persistent than they are (Gilovich, Vallone, & Tversky, 1985). Statistical streak analysis provides a more objective view of trend persistence, helping to avoid biases.
2. Risk Management and Strategy Development
Risk Assessment: Identifying the length and frequency of losing streaks is crucial for managing risk and adjusting trading strategies. Long losing streaks can indicate potential strategy weaknesses or market regime changes, prompting a reassessment of trading rules and risk management practices (Brock, Lakonishok, & LeBaron, 1992).
Strategy Optimization: Statistical analysis of streaks can aid in optimizing trading strategies. For example, understanding the average length of winning and losing streaks can help in setting more effective stop-loss and take-profit levels, as well as in determining the optimal position sizing (Fama & French, 1993).
Scientific References:
Lo, A. W. (1991). "Long-Term Memory in Stock Market Prices." Econometrica, 59(5), 1279-1313. This paper discusses the presence of long-term memory in stock prices, which is relevant for understanding the persistence of streaks.
Jegadeesh, N., & Titman, S. (1993). "Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency." Journal of Finance, 48(1), 65-91. This study explores momentum and reversal strategies, which are related to the concept of streaks.
Gilovich, T., Vallone, R., & Tversky, A. (1985). "The Hot Hand in Basketball: On the Misperception of Random Sequences." Cognitive Psychology, 17(3), 295-314. This paper provides insight into the psychological aspects of streaks and persistence.
Brock, W., Lakonishok, J., & LeBaron, B. (1992). "Simple Technical Trading Rules and the Stochastic Properties of Stock Returns." Journal of Finance, 47(5), 1731-1764. This research examines the effectiveness of technical trading rules, relevant for streak-based strategies.
Fama, E. F., & French, K. R. (1993). "Common Risk Factors in the Returns on Stocks and Bonds." Journal of Financial Economics, 33(1), 3-56. This paper provides a foundation for understanding risk factors and strategy performance.
By analyzing streaks, traders can gain valuable insights into market dynamics and refine their trading strategies based on empirical evidence.
Statistical Anomaly IndicatorThe Statistical Anomaly Indicator is a sophisticated tool designed for traders to detect and highlight candles that significantly deviate from the expected price action based on statistical analysis. By leveraging historical price data, this indicator calculates an anticipated price range using a pricing model rooted in the mean and standard deviation of historical returns. When the actual price moves outside these statistical boundaries, the corresponding candles are marked on the chart, providing traders with unique insights into potential market anomalies.
Purpose and Unique Insights
The primary purpose of the Statistical Anomaly Indicator is to aid traders in identifying periods of abnormal price movements that may signify overbought or oversold conditions, potential reversals, or trend continuations. By highlighting these statistical outliers, the indicator offers:
Early Detection of Market Anomalies: Spot unusual price actions promptly.
Enhanced Decision-Making: Make more informed trading decisions by understanding when prices deviate from historical norms.
Versatility Across Markets: Applicable in various market contexts, whether trending or ranging.
This tool benefits both novice traders, by simplifying complex statistical concepts into visual cues, and experienced traders, by adding a quantitative edge to their analysis.
Methodology
Calculate the return of the period
return(t) = (close - close )/close
Calculate the mean of past returns within a specified window
mean = ta.sma(return , period)
Calculate the standard deviation of past returns within a specified window
stdev = ta.stdev(return , period)
Establish price upper and lower bound using the last close, mean and standard deviation
upper_bound = close * (1 + mean + stdev)
lower_bound = close * (1 + mean - stdev)
Mark the candles where the close price exceeds the established price range
close > upper_bound or close < lower_bound
Visual Presentation on the Chart
Color-Coded Triangles: The indicator places color-coded triangles below the bars of the candles that exceed the expected price range.
Green Triangles: Indicate a close above the upper bound (potential overbought condition).
Red Triangles: Indicate a close below the lower bound (potential oversold condition).
Immediate Recognition: These visual cues enable traders to quickly identify statistical anomalies without sifting through numerical data.
Practical Applications for Traders
Identifying Overbought/Oversold Conditions: Recognize when the asset price may have moved too far in one direction and could be due for a correction.
Spotting Potential Reversals: Use deviations as early signals of possible market reversals.
Confirming Trend Continuations: In strong trends, deviations might indicate momentum is continuing rather than reversing.
Identifying historical trends in the price action.
Combining with Other Tools and Analysis
To maximize the effectiveness of the Statistical Anomaly Indicator:
Pair with the Mean and Standard Deviation Lines Indicator:
Provides additional context by displaying the mean and standard deviation levels directly on the chart.
Use in Conjunction with Fundamental Analysis:
Validate whether statistical anomalies are supported by underlying economic factors or news events.
Integrate with Other Technical Indicators.
Limitations and Caveats
Not a Standalone Tool: Should not be used in isolation; always consider the broader market context.
Statistical Assumptions: Based on historical data; past performance does not guarantee future results.
False Signals: Like all indicators, it may generate false positives, especially in highly volatile or low-volume markets which is why context is needed to interpret the signals.
Parameter Selection: The chosen period for calculating mean and standard deviation can significantly affect the indicator's sensitivity.
Conclusion
The Statistical Anomaly Indicator offers a quantitative approach to identifying unusual price movements in the market. By transforming complex statistical data into simple visual signals, it empowers traders to make more informed decisions. Whether you're a novice trader seeking to understand market dynamics or an experienced trader looking to refine your strategy, this indicator provides practical benefits. Remember to integrate it with fundamental analysis and other technical tools to validate signals and enhance your trading decisions.
FED and ECB Interest RatesFED and ECB Interest Rates Indicator
This indicator provides a clear visual representation of the Federal Reserve (FED) and European Central Bank (ECB) interest rates, offering traders and analysts a quick way to track these crucial economic metrics.
• Displays both FED (red) and ECB (blue) interest rates on a single chart
• Shows rates in basis points in the status line for precise reading
• Uses daily data for up-to-date rate information
• Features robust error handling for consistent performance
How It Works:
• Fetches FED rate from FRED and ECB rate from ECONOMICS database
• Plots rates as percentage values on the chart
• Displays rates in basis points when hovering over the chart
Use Cases:
• Monitor central bank policies and their potential impact on markets
• Compare FED and ECB rate trends over time
• Analyze correlation between interest rates and asset prices
• Assist in fundamental analysis for forex, equities, and fixed income trading
Note:
This indicator is for informational purposes only. Always combine this data with other forms of analysis and stay informed about central bank announcements and economic events.
Enhance your trading strategy with real-time insights into two of the world's most influential interest rates!
[BRAIN] Absolute Volatility of Price
Hello traders!
Today I want to share with you a series of scripts and strategies that I developed a few years ago. This is one of my first works, born from the curiosity of seeing a candlestick representation in a different way, without considering the price movement along the y-axis.
Imagine observing the price movement in dollars and percentages, always starting from the same reference point: the 0 axis. This approach can offer new insights and ideas on how and how much prices move.
To explain it better, the open of each candle does not start from the previous close negotiations but always starts from the 0 axis . In this way, it is possible to clearly compare the bodies of the candles with each other.
Script Visualization Methods and Input
- Study Normal: Simply reports the prices, including the negative ones of the red candles, on the same scale in absolute terms (ABS), as shown in the first indicator above.
- Study Normal Neg: In this version, the red candles vary negatively below zero, instead of in absolute terms above zero, as shown in the second indicator above.
- Study Perc: Similar to "Study Normal" but uses percentage values instead of dollars, useful for very low timeframes and low variations with many decimals, such as 1 minute on EUR/USD.
- Study Perc Neg: Similar to "Study Normal Neg" but uses percentage values.
Additionally, I have added the possibility to display or not, through two buttons, an average of the candle bodies adjustable in length via input and the range of each candle, always correlated in dollars or percentages, as per the main study setting.
I hope this work can be useful to many of you. I invite you to like if you appreciate my scripts and want to see more like these. Do not hesitate to comment or contact me for any doubts or questions.
PS: If you notice that in the script the sum of the percentage values between the shadow and the body of the candle does not correspond to the range, it is only a rounding issue. Change the precision setting to a lower value and you will see that the rounding disappears.
PS: In the script, to better visualize the percentage growth and decline of the instrument on very high timeframes, I decided to represent it as follows:
- If close ≥ open: (high - low) / low * 100
- If close < open: (high - low) / high * 100
The same method is also applied for calculating the percentage variations of the shadows relative to themselves.
I hope you like this version! If you need any further modifications or adjustments, let me know. Good luck with your project!
(In the photos below I show 3 versions of the indicator open on 3 different tickers as an example: from top to bottom in the 3 indicators are set these Study: Study Normal, Study Perc and Study Perc Neg)
Currency Futures StatisticsThe "Currency Futures Statistics" indicator provides comprehensive insights into the performance and characteristics of various currency futures. This indicator is crucial for portfolio management as it combines multiple metrics that are instrumental in evaluating currency futures' risk and return profiles.
Metrics Included:
Historical Volatility:
Definition: Historical volatility measures the standard deviation of returns over a specified period, scaled to an annual basis.
Importance: High volatility indicates greater price fluctuations, which translates to higher risk. Investors and portfolio managers use volatility to gauge the stability of a currency future and to make informed decisions about risk management and position sizing (Hull, J. C. (2017). Options, Futures, and Other Derivatives).
Open Interest:
Definition: Open interest represents the total number of outstanding futures contracts that are held by market participants.
Importance: High open interest often signifies liquidity in the market, meaning that entering and exiting positions is less likely to impact the price significantly. It also reflects market sentiment and the degree of participation in the futures market (Black, F., & Scholes, M. (1973). The Pricing of Options and Corporate Liabilities).
Year-over-Year (YoY) Performance:
Definition: YoY performance calculates the percentage change in the futures contract's price compared to the same week from the previous year.
Importance: This metric provides insight into the long-term trend and relative performance of a currency future. Positive YoY performance suggests strengthening trends, while negative values indicate weakening trends (Fama, E. F. (1991). Efficient Capital Markets: II).
200-Day Simple Moving Average (SMA) Position:
Definition: This metric indicates whether the current price of the currency future is above or below its 200-day simple moving average.
Importance: The 200-day SMA is a widely used trend indicator. If the price is above the SMA, it suggests a bullish trend, while being below indicates a bearish trend. This information is vital for trend-following strategies and can help in making buy or sell decisions (Bollinger, J. (2001). Bollinger on Bollinger Bands).
Why These Metrics are Important for Portfolio Management:
Risk Assessment: Historical volatility and open interest provide essential information for assessing the risk associated with currency futures. Understanding the volatility helps in estimating potential price swings, which is crucial for managing risk and setting appropriate stop-loss levels.
Liquidity and Market Participation: Open interest is a critical indicator of market liquidity. Higher open interest usually means tighter bid-ask spreads and better liquidity, which facilitates smoother trading and better execution of trades.
Trend Analysis: YoY performance and the SMA position help in analyzing long-term trends. This analysis is crucial for making strategic investment decisions and adjusting the portfolio based on changing market conditions.
Informed Decision-Making: Combining these metrics allows for a holistic view of the currency futures market. This comprehensive view helps in making informed decisions, balancing risks and returns, and optimizing the portfolio to align with investment goals.
In summary, the "Currency Futures Statistics" indicator equips investors and portfolio managers with valuable data points that are essential for effective risk management, liquidity assessment, trend analysis, and overall portfolio optimization.
STRX - Macro TimesSTRX - Macro Times
The STRX - Macro Times is an advanced indicator designed to highlight key moments in financial markets based on specific macroeconomic time frames for Forex, Indices, and Gold. With this tool, you can optimize your trading decisions by monitoring periods of increased volatility and activity in the markets, leveraging the most strategic time windows to operate.
Key Features:
Highlighting Forex, Indices, and Gold Sessions:
The STRX - Macro Times automatically colors the candles on the chart during crucial time intervals for Forex, Indices, and Gold markets, helping you easily spot periods of heightened economic and financial activity. This allows you to focus on times when the market is most liquid and volatile, enhancing your trading performance.
Pre-set Macro Times:
The indicator is programmed to highlight three different key time windows for each market:
Forex: Major sessions from 8:30 to 10:00, 12:00 to 13:00, and 15:00 to 15:30.
Indices: Key times from 9:00 to 10:00, 15:45 to 16:15, and 19:00 to 20:00.
Gold: Strategic moments from 8:30 to 10:00, 14:30 to 16:00, and 20:00 to 21:30.
Total Customization:
You can enable or disable the coloring for different markets (Forex, Indices, Gold) based on your trading preferences. This allows you to focus only on the markets you follow, simplifying chart analysis and optimizing your response time to market changes.
Clear and Intuitive Visual Coloring:
The chart bars are colored in white, creating a clear visual distinction to recognize the most relevant time windows. This makes it easy to identify macroeconomic periods without wasting time manually calculating opportunity windows.
With STRX - Macro Times, you’ll have a strategic advantage in trading by focusing on periods of high volatility and improving the efficiency of your operations in the most active markets. This indicator is perfect for those looking to enhance their strategy and operate in sync with the key moments of the global market.
Global Liquidity Index and DEMA1001. Global Liquidity Index:
The code calculates global liquidity from economic data from multiple countries and regions. Specifically, it aggregates money supply data from major economies such as the United States, Europe, China, and Japan, and sums and adjusts them to get a global liquidity index.
This index is calculated by summing data from different sources and subtracting the impact of some financial instruments (such as reverse repurchase agreements, etc.), and then converting the result into a number in trillions. This can help analyze the liquidity conditions in global money markets.
2. ROC SMA (Simple Moving Average of Rate of Change):
The code calculates the rate of change (ROC) of the global liquidity index, which is a way to measure the speed of change of the index.
Then, a simple moving average (SMA) is applied to the rate of change, which helps smooth the data and identify trends.
The ROC SMA curve is displayed in yellow to help users observe the trend of liquidity changes.
3. DEMA (Double Exponential Moving Average):
DEMA is a more complex moving average that attempts to reduce the lag of the moving average and provide a more sensitive trend response.
The calculation method is to first calculate a standard exponential moving average (EMA), then calculate the EMA of this EMA, and use these two results to calculate DEMA.
The code allows users to set the period length of DEMA (default is 100), which can adjust the speed of DEMA's response to price changes.
The DEMA curve is displayed in blue, helping users to more accurately capture the trends and changes of global liquidity indicators.
Korean Exchange Relative Volume BarchartKorean Exchange Relative Volume Barchart
The Korean Exchange Relative Volume Barchart indicator compares the trading volume of a cryptocurrency on any symbol with the combined volumes of major Korean exchanges, Upbit and Bithumb. This tool helps traders understand regional trading activities, offering insights into market sentiment influenced by Korean markets.
For example 0.5 would indicate that the Korean exchanges are doing 50% of the volume of the selected symbol.
Features:
Exchange Selection: Include or exclude Upbit and Bithumb in the comparison.
Automatic Symbol Mapping: Automatically maps the current chart's symbol to equivalent symbols on Upbit and Bithumb.
Stacked Bar Chart Visualization: Plots a stacked bar chart showing the relative volume contributions of Binance, Upbit, and Bithumb.
Usage:
Add the Indicator: Apply it to a cryptocurrency chart on TradingView.
Configure Settings: Toggle inclusion of Upbit and Bithumb in the settings.
Interpret the Chart: The stacked bar chart displays the proportion of trading volumes from each exchange.
Notes:
Symbol Compatibility: Ensure the cryptocurrency is listed on the Korean exchanges for accurate comparison.
Data Accuracy: Volumes are compared in the same base currency (e.g., BTC), so no exchange rate conversion is necessary.
Enhance your trading analysis by understanding the influence of Korean exchanges on cryptocurrency volumes with the Korean Exchange Volume Comparison indicator.
VIX Composite MeterThe VIX Composite Meter is a custom trading indicator designed to help identify potential buy and sell signals based on market volatility, specifically through VIX options. The VIX, also known as the "fear gauge," measures market expectations of future volatility. This meter combines several factors — the VIX-to-SPX ratio, moving average deviation, Z-score, and momentum oscillators — to create a single, easy-to-read score that guides trading decisions.
How It Works
Composite Score: The meter calculates a composite score that ranges from 0 to 1 by weighing four metrics:
VIX/SPX Ratio: Indicates relative volatility compared to the S&P 500.
Moving Average Deviation: Shows how far the VIX is from its typical range.
Z-Score: Measures how extreme the current VIX value is relative to its historical average.
Momentum Oscillator (RSI): Helps identify overbought or oversold conditions in the VIX.
Color-Coded Signals:
Green Background: If the score drops below 0.3, the meter suggests buying VIX calls, indicating a low-volatility environment with potential for increase.
Red Background: If the score rises above 0.7, the meter suggests buying VIX puts, indicating a high-volatility environment likely to decrease.
Use Cases
Buy VIX Calls: When the meter turns green, signaling potential future volatility spikes.
Buy VIX Puts: When the meter turns red, suggesting current high volatility is expected to revert lower.
By using the VIX Composite Meter, traders can better time their entries and exits in VIX options, aligning with market conditions for potential profits in periods of changing volatility.
buysellsignal-yashgode9The "buysellsignal-yashgode9" indicator utilizes a signal library to generate buy and sell signals based on price action, allowing traders to make informed decisions in their trading strategies.
Overview of the Indicator
The "buysellsignal-yashgode9" indicator is a technical analysis tool that identifies potential buying and selling points in the market. It does this by leveraging a signal library imported from `yashgode9/signalLib/2`, which contains predefined algorithms for analyzing market trends based on specified parameters.
Key Features
1.Input Parameters: The indicator allows users to customize several parameters:
- Depth: Determines the number of bars to look back for price analysis (default is 150).
- Deviation: Sets the threshold for price movement (default is 120).
- Backstep: Defines how many bars to step back when evaluating signals (default is 100).
- Label Transparency: Adjusts the transparency of labels displayed on the chart.
- Color Customization: Users can specify colors for buy and sell signals.
2.Signal Generation: The core functionality is driven by the `signalLib.signalLib` function, which analyzes the low and high prices over the specified depth and deviation. It returns a direction indicator along with price points (`zee1` and `zee2`) that are used to determine whether to issue a buy or sell signal.
3. Labeling and Visualization:
- The indicator creates labels on the chart to indicate buy and sell points based on the direction of the signal.
- Labels are color-coded according to user-defined settings, enhancing visual clarity.
- The indicator also manages the deletion of previous labels and lines to avoid clutter on the chart.
4. Repainting Logic: The script includes a repainting option, allowing it to update signals in real-time as new price data comes in. This can be beneficial for traders who want to see the most current signals but may also lead to misleading signals if not used cautiously.
Conclusion:-
The "buysellsignal-yashgode9" indicator is a versatile tool for traders looking to enhance their decision-making process by identifying key market entry and exit points. By allowing customization of parameters and colors, it caters to individual trading preferences while providing clear visual signals based on price action analysis. This indicator is particularly useful for those who rely on technical analysis in their trading strategies, as it combines automated signal generation with user-friendly visual cues.
Benefits and Applications:
1.Intraday Trading: The "buysellsignal-yashgode9" indicator is particularly well-suited for intraday trading, as it provides accurate and timely buy and sell signals based on the current market dynamics.
2.Trend-following Strategies: Traders who employ trend-following strategies can leverage the indicator's ability to identify the overall market direction, allowing them to align their trades with the dominant trend.
3.Swing Trading: The dynamic price tracking and signal generation capabilities of the indicator can be beneficial for swing traders, who aim to capture medium-term price movements.
Security Measures:
1. The code includes a security notice at the beginning, indicating that it is subject to the Mozilla Public License 2.0, which is a reputable open-source license.
2. The code does not appear to contain any obvious security vulnerabilities or malicious content that could compromise user data or accounts.
NOTE:- This indicator is provided under the Mozilla Public License 2.0 and is subject to its terms and conditions.
Disclaimer: The usage of "buysellsignal-yashgode9" indicator might or might not contribute to your trading capital(money) profits and losses and the author is not responsible for the same.
IMPORTANT NOTICE:
While the indicator aims to provide reliable buy and sell signals, it is crucial to understand that the market can be influenced by unpredictable events, such as natural disasters, political unrest, changes in monetary policies, or economic crises. These unforeseen situations may occasionally lead to false signals generated by the "buysellsignal-yashgode9" indicator.
Users should exercise caution and diligence when relying on the indicator's signals, as the market's behavior can be unpredictable, and external factors may impact the accuracy of the signals. It is recommended to thoroughly backtest the indicator's performance in various market conditions and to use it as one of the many tools in a comprehensive trading strategy, rather than solely relying on its output.
Ultimately, the success of the "buysellsignal-yashgode9" indicator will depend on the user's ability to adapt it to their specific trading style, market conditions, and risk management approach. Continuous monitoring, analysis, and adjustment of the indicator's settings may be necessary to maintain its effectiveness in the ever-evolving financial markets.
Author:- yashgode9
PineScript-version:- 5
This indicator aims to enhance trading decision-making by combining DEPTH, DEVIATION, BACKSTEP with custom signal generation, offering a comprehensive tool for traders seeking clear buy and sell signals on the TradingView platform.
