Dynamic Trailing (Zeiierman)█ Overview
The Dynamic Trailing (Zeiierman) indicator enhances the traditional SuperTrend approach by providing a more nuanced, adaptable tool for trend analysis and market volatility assessment. It combines techniques to identify dynamic support and resistance levels, trend directions, and market volatility. By integrating the Average True Range (ATR) with a unique multiplier system and smoothing mechanisms, this indicator offers a nuanced approach to trend-following strategies, making it a valuable asset for traders looking to leverage SuperTrend methodologies with additional insights into market dynamics.
█ How It Works
At its core, this indicator builds on the traditional SuperTrend formula by utilizing a modified ATR calculation to define the deviation for dynamic support and resistance levels. These levels are dynamically adjusted based on market volatility. The innovation lies in the addition of the Hull Moving Average (HMA) and the Triple Exponential Moving Average (TEMA) for an enhanced smoothing effect, making the indicator's trend signals more reliable and less prone to market noise. The trend direction is determined by comparing the closing price with the dynamic levels, facilitating clear bullish or bearish signals.
The indicator incorporates a 'Supertrend' function, which uses the dynamic levels and the price’s position relative to them to determine the trend direction. This determination is visualized through color-coded lines and a cloud zone, which expands or contracts based on the ATR and a user-defined width setting, illustrating the market's volatility and trend strength.
ATR Calculation: Utilizes the Average True Range (ATR) to measure market volatility. The ATR is a cornerstone of this indicator, helping to dynamically adjust the support and resistance levels according to the market’s changing conditions.
Supertrend Calculation: Implements a supertrend formula that combines the ATR with user-defined multipliers to plot potential trend directions. This feature helps in identifying whether the market is in an uptrend or downtrend, offering visual cues for potential reversals.
TEMA Calculation: Employs the Triple Exponential Moving Average (TEMA) through a Hull Moving Average (HMA) calculation to smooth out price data. This smoothing process helps in reducing market noise and makes the trend direction clearer.
Dynamic Support and Resistance: Calculates dynamic support and resistance levels by applying a deviation (derived from the ATR and user-defined multiplier) to the smoothed price data. These levels adapt to market conditions, providing areas where price might experience support or resistance.
Trend and Cloud Calculation: Determines the overall trend direction and plots a 'Cloud' zone around it, which adjusts in width based on the ATR and a user-defined cloud width setting. This cloud acts as a visual buffer, indicating the strength and stability of the current trend.
█ How to Use
Trend Identification: The primary function of this indicator is to help traders quickly identify the prevailing market trend. A change in the color of the dynamic trailing line or its position relative to the price can signal potential trend reversals.
Dynamic Support and Resistance: Unlike static levels, the dynamic levels adjust with market conditions, providing current areas where the price might experience support or resistance.
Dynamic Support
Dynamic Resistance
█ Settings
Mult (Multiplier): Adjusts the multiplier for the ATR calculation, affecting the deviation distance for support and resistance levels. Higher values decrease sensitivity and vice versa.
Len (Length): Sets the period for the HMA in the TEMA calculation, influencing the indicator's responsiveness to price changes.
Smoothness: Determines the smoothness of the dynamic support and resistance lines by setting the SMA length. Higher values result in smoother lines.
Cloud Width : Modifies the width of the cloud, providing a visual representation of market volatility.
Color Settings (upcol and dncol): Allows users to customize the colors of the indicator's lines and cloud, aiding in visual trend identification.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Supertrend
Median Supertrend [BackQuant]Median Supertrend Concept by BackQuant ©
This was created since the normal supertrend is noisy, in the attempts to remove that and still get a good signal we decided to use a special median calculation as the source to a modified supertrend. This allows us to reduce noise, and make the supertrend adaptive to volatility. The full description and reasoning, including definitions and backtests are as follows:
1. Definition of Median
The median is a statistical measure that identifies the middle value in a given set of numbers when those numbers are arranged in either ascending or descending order. If the dataset has an even number of observations, the median is calculated as the average of the two middle numbers. This measure is particularly useful in understanding the central tendency of data, especially in cases where the dataset may contain outliers that could skew the mean. For example, in a dataset representing the earnings of families, the median provides a more accurate reflection of the typical income than the mean if the dataset includes extreme values.
2. Understanding Supertrend and Its Use Case
Supertrend is a popular trend-following indicator used in technical analysis. It is computed using the Average True Range (ATR) to capture volatility, combined with a moving average. The indicator provides clear signals to traders about bullish or bearish trends, indicating potential entry and exit points. Traders often use Supertrend in various market conditions to enhance their trading strategies, leveraging its simplicity and effectiveness in identifying ongoing trends and reversals.
3. Rationale Behind Combining Median with Supertrend
The integration of the median into the Supertrend indicator seeks to mitigate the impact of outliers and sudden market spikes that can affect trend analysis. By using the median value of price data for trend determination, the Median Supertrend aims to offer a more stable and reliable indicator that reflects the underlying market conditions more accurately than traditional methods. This modification is intended to improve the timing of trend detection and the precision of entry and exit signals.
4. Key Differences and Benefits
Enhanced Stability: The use of median values reduces sensitivity to extreme price movements, offering a smoother trend line that can lead to more reliable trading signals.
Adaptive Sensitivity: Users can adjust the indicator's sensitivity to align with different trading styles and market conditions through customizable parameters like the ATR multiplier and lookback period.
Explicit Trading Signals: The indicator simplifies the trading process by providing clear, actionable long and short signals based on trend reversals, aiding in decision-making.
Customizability: Options to use Heikin Ashi candles, paint candles based on the trend, and toggle signal visibility allow traders to personalize the indicator to their preference.
5. User Inputs
The Median Supertrend indicator includes several user inputs to tailor its operation:
Use HA Candles as Source?: Option to base calculations on Heikin Ashi candles for smoother price data.
Paint Candles According to Trend?: Visual aid that colors candles based on the current trend direction, enhancing chart readability.
ATR Period and Multiplier: Parameters to adjust the sensitivity of the trend detection, allowing users to fine-tune the indicator.
Adaptive Lookback Period: Defines the period for the median calculation, offering flexibility in trend assessment.
Show Long and Short Signals: Enables traders to visualize entry signals directly on the chart.
6. Application in Trading
Traders can incorporate the Median Supertrend into their strategies as a standalone indicator for trend following or as a filter in a multi-indicator system. It is particularly useful in markets known for having outliers or sudden price jumps, as the median-based calculation provides a grounded trend analysis. This indicator can be applied across various timeframes and asset classes, making it a versatile tool for day traders, swing traders, and long-term investors alike.
7. Summary and Empirical Soundness
The integration of median values into the Supertrend indicator represents an innovative approach to trend analysis, addressing some of the volatility and outlier-related challenges inherent in traditional methods. This combination is empirically sound as it leans on the statistical robustness of the median to offer a more stable and reliable trend determination mechanism.
8. Relavant Backtests on Major Assets (1D Timeframe)
We include these backtests as a general proxy for how they work.
Please do your own calibrating to suit it to your own needs and backtest.
Past results don't = future results but they can help you understand how it functions.
INDEX:BTCUSD
INDEX:ETHUSD
BINANCE:SOLUSD
Supertrended RSI [AlgoAlpha]🚀📈 Introducing the Supertrended RSI Indicator by AlgoAlpha!
Designed to empower your trading decisions, this innovative Pine Script™ creation marries the precision of the Relative Strength Index (RSI) with the dynamic prowess of the SuperTrend methodology. Whether you’re charting the course of cryptos, riding the waves of stock markets, or navigating the futures landscape, our SuperTrended RSI Indicator is your go-to tool for uncovering unique trend insights and crafting trading strategies. 🌟
Key Features:
🔍 Enhanced RSI Analysis: Combines the traditional RSI with a supertrend calculation for a dynamic look at market trends.
🔄 Multiple Moving Averages: Offers a selection of moving averages including SMA, HMA, EMA, and more for tailored analysis.
🎨 Customizable Visuals: Choose your own color scheme for uptrends and downtrends to match your trading dashboard.
📊 Flexible Input Settings: Tailor the indicator with customizable lengths, factors, and smoothing options.
⚡ Real-Time Alerts: Set alerts for bullish and bearish reversals to stay ahead of market movements.
Quick Guide to Using the Supertrended RSI Indicator
Maximize your trading with the Supertrended RSI by following these streamlined steps! 🚀✨
🛠 Add the Indicator: Search for "Supertrended RSI " in TradingView's Indicators & Strategies. Customize settings like RSI length, MA type, and Supertrend factors to fit your trading style.
🎨 Visual Customization: Adjust uptrend and downtrend colors for clear trend visualization.
📊 Market Analysis: Watch for the Supertrend color change for trend reversals. Use the 70 and 30 lines to spot overbought/oversold conditions.
🔔 Alerts: Enable notifications for reversal conditions to capture trading opportunities without constant chart monitoring.
How It Works:
At the core of this indicator is the combination of the Relative Strength Index (RSI) and the Supertrend framework, it does so by applying the SuperTrend on the RSI. The RSI settings can be adjusted for length and smoothing, with the option to select the data source. The Supertrend calculation takes into account a specified trend factor and the Average True Range (ATR) over a given period to determine trend direction.
Visual elements include plotting the RSI, its moving average, and the Supertrend line, with customizable colors for clarity. Overbought and oversold conditions are highlighted, and trend changes are filled with distinct colors.
🔔 Alerts: Enable alerts for crossover and crossunder events to catch every trading opportunity.
🌈 Whether you're a seasoned trader or just starting, the Supertrended RSI offers a fresh perspective on market trends. 📈
💡 Tip: Experiment with different settings to find the perfect balance for your trading style!
🔗 Explore, customize, and enhance your trading experience with the Supertrended RSI Indicator! Happy trading! 🎉
SuperTrend Fisher [AlgoAlpha]🚀🌟 Introducing the "Super Fisher" by AlgoAlpha, a sophisticated and versatile tool crafted for the discerning trader. This innovative indicator merges the precision of the Fisher Transform with the adaptability of the SuperTrend methodology, offering a fresh perspective on market analysis. 📈🔍
Key Features:
🔶 Customizable Settings: Tailor the indicator to your trading style with adjustable inputs like "Fair-value Period" and "EMA Length". Choose your preferred "Up Color" and "Down Color" for a personalized visual experience.
🔶 Advanced Fisher Transform: At the heart of this tool is the Fisher Transform, an algorithm renowned for pinpointing potential price reversals by normalizing asset prices.
🔶 Integrated SuperTrend Functionality: This feature adds a layer of trend analysis, using the refined Fisher Transform values to generate dynamic, trend-following signals.
🔶 Enhanced Visualization: Clearly distinguishable bullish and bearish market phases, thanks to the color-coded plots of Fisher Transform and SuperTrend values.
🔶 Overbought/Oversold Levels: Visual plots and fills for these levels provide additional insights into market extremities.
🔶 Configurable Alerts: Stay informed with alerts for critical market movements like crossing the zero line or the SuperTrend.
Logic:
The "Super Fisher" operates on a sophisticated algorithm:
1. Fisher Transform Calculation: It starts by calculating the Detrended Price Oscillator (DPO) and its standard deviation. These values are then transformed using the Fisher Transform formula, which is subsequently smoothed with a Hull Moving Average.
2. SuperTrend Integration: The SuperTrend function employs the Fisher Transform values to create a dynamic trend-following tool. It calculates upper and lower bands and determines which one to use for market direction based on whether the fisher is above or below the bands, offering an insightful view of the price trend.
3. Overbought/Oversold Identification: The tool plots specific levels to indicate overbought and oversold conditions, aiding in the identification of potential reversal points.
Here's a closer look at the core calculations:
Calculates the Fisher Transform:
value = 0.0
value := round_(.66 * ((src - low_) / (high_ - low_) - .5) + .67 * nz(value ))
fish1 = 0.0
fish1 := .5 * math.log((1 + value) / (1 - value)) + .5 * nz(fish1 )
fish1 := ta.hma(fish1, l)
Calculates the SuperTrend:
supertrend(factor, atrPeriod, srcc) =>
src = srcc
atr = atrr(srcc, atrPeriod)
upperBand = src + factor * atr
lowerBand = src - factor * atr
prevLowerBand = nz(lowerBand )
prevUpperBand = nz(upperBand )
lowerBand := lowerBand > prevLowerBand or srcc < prevLowerBand ? lowerBand : prevLowerBand
upperBand := upperBand < prevUpperBand or srcc > prevUpperBand ? upperBand : prevUpperBand
int direction = na
float superTrend = na
prevSuperTrend = superTrend
if na(atr )
direction := 1
else if prevSuperTrend == prevUpperBand
direction := srcc > upperBand ? -1 : 1
else
direction := srcc < lowerBand ? 1 : -1
superTrend := direction == -1 ? lowerBand : upperBand
How to Use:
📊 To maximize the potential of the "Super Fisher", follow these steps:
1. Customize Settings: Adjust the inputs to match your trading preferences. This includes setting the periods for the Fisher Transform and SuperTrend, as well as choosing colors for better visualization.
2. Analyze the Market: Observe the Fisher Transform and SuperTrend plots to gauge market direction. Pay special attention to color changes, as they indicate shifts in market sentiment.
3. Identify Extremes: Use the overbought and oversold plots to understand potential reversal points.
4. Set Alerts: Utilize the alert functionality to stay informed about significant market movements, ensuring you never miss an opportunity.
🔥 In summary the "Super Fisher" is a comprehensive market analysis tool designed to enhance your trading insights and decision-making process. 📉🌟🚨
GKD-C Variety Volatility Supertrend w/ Bands [Loxx]The Giga Kaleidoscope GKD-C Variety Volatility Supertrend w/ Bands is a confirmation module included in Loxx's "Giga Kaleidoscope Modularized Trading System."
█ GKD-C Variety Volatility Supertrend w/ Bands
Variety Volatility Supertrend w/ Bands indicator is a powerful and highly customizable tool for traders. Building upon the foundational concept of the classic Supertrend indicator, this variant adds a plethora of user-driven options and features that can cater to diverse trading styles and market scenarios.
The Supertrend indicator is traditionally used to identify market trends by overlaying a line on the price chart, which changes color and position in relation to the price based on the trend direction. The Variety Volatility Supertrend w/ Bands takes this a step further by offering various volatility calculations, visual enhancements, explicit trading signals, and alert conditions.
It provides five options for volatility calculations, enabling users to select the most suitable measure for their strategy. This indicator also allows users to control the display of the upper, lower, and mid bands, which can serve as dynamic support and resistance levels. Further, it can display explicit trading signals when the trend changes direction and set up alerts for these signals.
█ Giga Kaleidoscope Modularized Trading System
Core components of an NNFX algorithmic trading strategy
The NNFX algorithm is built on the principles of trend, momentum, and volatility. There are six core components in the NNFX trading algorithm:
1. Volatility - price volatility; e.g., Average True Range, True Range Double, Close-to-Close, etc.
2. Baseline - a moving average to identify price trend
3. Confirmation 1 - a technical indicator used to identify trends
4. Confirmation 2 - a technical indicator used to identify trends
5. Continuation - a technical indicator used to identify trends
6. Volatility/Volume - a technical indicator used to identify volatility/volume breakouts/breakdown
7. Exit - a technical indicator used to determine when a trend is exhausted
8. Metamorphosis - a technical indicator that produces a compound signal from the combination of other GKD indicators*
*(not part of the NNFX algorithm)
What is Volatility in the NNFX trading system?
In the NNFX (No Nonsense Forex) trading system, ATR (Average True Range) is typically used to measure the volatility of an asset. It is used as a part of the system to help determine the appropriate stop loss and take profit levels for a trade. ATR is calculated by taking the average of the true range values over a specified period.
True range is calculated as the maximum of the following values:
-Current high minus the current low
-Absolute value of the current high minus the previous close
-Absolute value of the current low minus the previous close
ATR is a dynamic indicator that changes with changes in volatility. As volatility increases, the value of ATR increases, and as volatility decreases, the value of ATR decreases. By using ATR in NNFX system, traders can adjust their stop loss and take profit levels according to the volatility of the asset being traded. This helps to ensure that the trade is given enough room to move, while also minimizing potential losses.
Other types of volatility include True Range Double (TRD), Close-to-Close, and Garman-Klass
What is a Baseline indicator?
The baseline is essentially a moving average, and is used to determine the overall direction of the market.
The baseline in the NNFX system is used to filter out trades that are not in line with the long-term trend of the market. The baseline is plotted on the chart along with other indicators, such as the Moving Average (MA), the Relative Strength Index (RSI), and the Average True Range (ATR).
Trades are only taken when the price is in the same direction as the baseline. For example, if the baseline is sloping upwards, only long trades are taken, and if the baseline is sloping downwards, only short trades are taken. This approach helps to ensure that trades are in line with the overall trend of the market, and reduces the risk of entering trades that are likely to fail.
By using a baseline in the NNFX system, traders can have a clear reference point for determining the overall trend of the market, and can make more informed trading decisions. The baseline helps to filter out noise and false signals, and ensures that trades are taken in the direction of the long-term trend.
What is a Confirmation indicator?
Confirmation indicators are technical indicators that are used to confirm the signals generated by primary indicators. Primary indicators are the core indicators used in the NNFX system, such as the Average True Range (ATR), the Moving Average (MA), and the Relative Strength Index (RSI).
The purpose of the confirmation indicators is to reduce false signals and improve the accuracy of the trading system. They are designed to confirm the signals generated by the primary indicators by providing additional information about the strength and direction of the trend.
Some examples of confirmation indicators that may be used in the NNFX system include the Bollinger Bands, the MACD (Moving Average Convergence Divergence), and the MACD Oscillator. These indicators can provide information about the volatility, momentum, and trend strength of the market, and can be used to confirm the signals generated by the primary indicators.
In the NNFX system, confirmation indicators are used in combination with primary indicators and other filters to create a trading system that is robust and reliable. By using multiple indicators to confirm trading signals, the system aims to reduce the risk of false signals and improve the overall profitability of the trades.
What is a Continuation indicator?
In the NNFX (No Nonsense Forex) trading system, a continuation indicator is a technical indicator that is used to confirm a current trend and predict that the trend is likely to continue in the same direction. A continuation indicator is typically used in conjunction with other indicators in the system, such as a baseline indicator, to provide a comprehensive trading strategy.
What is a Volatility/Volume indicator?
Volume indicators, such as the On Balance Volume (OBV), the Chaikin Money Flow (CMF), or the Volume Price Trend (VPT), are used to measure the amount of buying and selling activity in a market. They are based on the trading volume of the market, and can provide information about the strength of the trend. In the NNFX system, volume indicators are used to confirm trading signals generated by the Moving Average and the Relative Strength Index. Volatility indicators include Average Direction Index, Waddah Attar, and Volatility Ratio. In the NNFX trading system, volatility is a proxy for volume and vice versa.
By using volume indicators as confirmation tools, the NNFX trading system aims to reduce the risk of false signals and improve the overall profitability of trades. These indicators can provide additional information about the market that is not captured by the primary indicators, and can help traders to make more informed trading decisions. In addition, volume indicators can be used to identify potential changes in market trends and to confirm the strength of price movements.
What is an Exit indicator?
The exit indicator is used in conjunction with other indicators in the system, such as the Moving Average (MA), the Relative Strength Index (RSI), and the Average True Range (ATR), to provide a comprehensive trading strategy.
The exit indicator in the NNFX system can be any technical indicator that is deemed effective at identifying optimal exit points. Examples of exit indicators that are commonly used include the Parabolic SAR, and the Average Directional Index (ADX).
The purpose of the exit indicator is to identify when a trend is likely to reverse or when the market conditions have changed, signaling the need to exit a trade. By using an exit indicator, traders can manage their risk and prevent significant losses.
In the NNFX system, the exit indicator is used in conjunction with a stop loss and a take profit order to maximize profits and minimize losses. The stop loss order is used to limit the amount of loss that can be incurred if the trade goes against the trader, while the take profit order is used to lock in profits when the trade is moving in the trader's favor.
Overall, the use of an exit indicator in the NNFX trading system is an important component of a comprehensive trading strategy. It allows traders to manage their risk effectively and improve the profitability of their trades by exiting at the right time.
What is an Metamorphosis indicator?
The concept of a metamorphosis indicator involves the integration of two or more GKD indicators to generate a compound signal. This is achieved by evaluating the accuracy of each indicator and selecting the signal from the indicator with the highest accuracy. As an illustration, let's consider a scenario where we calculate the accuracy of 10 indicators and choose the signal from the indicator that demonstrates the highest accuracy.
The resulting output from the metamorphosis indicator can then be utilized in a GKD-BT backtest by occupying a slot that aligns with the purpose of the metamorphosis indicator. The slot can be a GKD-B, GKD-C, or GKD-E slot, depending on the specific requirements and objectives of the indicator. This allows for seamless integration and utilization of the compound signal within the GKD-BT framework.
How does Loxx's GKD (Giga Kaleidoscope Modularized Trading System) implement the NNFX algorithm outlined above?
Loxx's GKD v2.0 system has five types of modules (indicators/strategies). These modules are:
1. GKD-BT - Backtesting module (Volatility, Number 1 in the NNFX algorithm)
2. GKD-B - Baseline module (Baseline and Volatility/Volume, Numbers 1 and 2 in the NNFX algorithm)
3. GKD-C - Confirmation 1/2 and Continuation module (Confirmation 1/2 and Continuation, Numbers 3, 4, and 5 in the NNFX algorithm)
4. GKD-V - Volatility/Volume module (Confirmation 1/2, Number 6 in the NNFX algorithm)
5. GKD-E - Exit module (Exit, Number 7 in the NNFX algorithm)
6. GKD-M - Metamorphosis module (Metamorphosis, Number 8 in the NNFX algorithm, but not part of the NNFX algorithm)
(additional module types will added in future releases)
Each module interacts with every module by passing data to A backtest module wherein the various components of the GKD system are combined to create a trading signal.
That is, the Baseline indicator passes its data to Volatility/Volume. The Volatility/Volume indicator passes its values to the Confirmation 1 indicator. The Confirmation 1 indicator passes its values to the Confirmation 2 indicator. The Confirmation 2 indicator passes its values to the Continuation indicator. The Continuation indicator passes its values to the Exit indicator, and finally, the Exit indicator passes its values to the Backtest strategy.
This chaining of indicators requires that each module conform to Loxx's GKD protocol, therefore allowing for the testing of every possible combination of technical indicators that make up the six components of the NNFX algorithm.
What does the application of the GKD trading system look like?
Example trading system:
Backtest: Multi-Ticker CC Backtest
Baseline: Hull Moving Average
Volatility/Volume: Hurst Exponent
Confirmation 1: Advance Trend Pressure as shown on the chart above
Confirmation 2: uf2018
Continuation: Coppock Curve
Exit: Rex Oscillator
Metamorphosis: Baseline Optimizer
Each GKD indicator is denoted with a module identifier of either: GKD-BT, GKD-B, GKD-C, GKD-V, GKD-M, or GKD-E. This allows traders to understand to which module each indicator belongs and where each indicator fits into the GKD system.
? Giga Kaleidoscope Modularized Trading System Signals
Standard Entry
1. GKD-C Confirmation gives signal
2. Baseline agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Confirmation 2 agrees
6. Volatility/Volume agrees
1-Candle Standard Entry
1a. GKD-C Confirmation gives signal
2a. Baseline agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
Next Candle
1b. Price retraced
2b. Baseline agrees
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Volatility/Volume agrees
Baseline Entry
1. GKD-B Baseline gives signal
2. Confirmation 1 agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Confirmation 2 agrees
6. Volatility/Volume agrees
7. Confirmation 1 signal was less than 'Maximum Allowable PSBC Bars Back' prior
1-Candle Baseline Entry
1a. GKD-B Baseline gives signal
2a. Confirmation 1 agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
5a. Confirmation 1 signal was less than 'Maximum Allowable PSBC Bars Back' prior
Next Candle
1b. Price retraced
2b. Baseline agrees
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Volatility/Volume agrees
Volatility/Volume Entry
1. GKD-V Volatility/Volume gives signal
2. Confirmation 1 agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Confirmation 2 agrees
6. Baseline agrees
7. Confirmation 1 signal was less than 7 candles prior
1-Candle Volatility/Volume Entry
1a. GKD-V Volatility/Volume gives signal
2a. Confirmation 1 agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
5a. Confirmation 1 signal was less than 'Maximum Allowable PSVVC Bars Back' prior
Next Candle
1b. Price retraced
2b. Volatility/Volume agrees
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Baseline agrees
Confirmation 2 Entry
1. GKD-C Confirmation 2 gives signal
2. Confirmation 1 agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Volatility/Volume agrees
6. Baseline agrees
7. Confirmation 1 signal was less than 7 candles prior
1-Candle Confirmation 2 Entry
1a. GKD-C Confirmation 2 gives signal
2a. Confirmation 1 agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
5a. Confirmation 1 signal was less than 'Maximum Allowable PSC2C Bars Back' prior
Next Candle
1b. Price retraced
2b. Confirmation 2 agrees
3b. Confirmation 1 agrees
4b. Volatility/Volume agrees
5b. Baseline agrees
PullBack Entry
1a. GKD-B Baseline gives signal
2a. Confirmation 1 agrees
3a. Price is beyond 1.0x Volatility of Baseline
Next Candle
1b. Price inside Goldie Locks Zone Minimum
2b. Price inside Goldie Locks Zone Maximum
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Volatility/Volume agrees
Continuation Entry
1. Standard Entry, 1-Candle Standard Entry, Baseline Entry, 1-Candle Baseline Entry, Volatility/Volume Entry, 1-Candle Volatility/Volume Entry, Confirmation 2 Entry, 1-Candle Confirmation 2 Entry, or Pullback entry triggered previously
2. Baseline hasn't crossed since entry signal trigger
4. Confirmation 1 agrees
5. Baseline agrees
6. Confirmation 2 agrees
ATR TrendTL;DR - An average true range (ATR) based trend
ATR trend uses a (customizable) ATR calculation and highest high & lowest low prices to calculate the actual trend. Basically it determines the trend direction by using highest high & lowest low and calculates (depending on the determined direction) the ATR trend by using a ATR based calculation and comparison method.
The indicator will draw one trendline by default. It is also possible to draw a second trendline which shows a 'negative trend'. This trendline is calculated the same way the primary trendline is calculated but uses a negative (-1 by default) value for the ATR calculation. This trendline can be used to detect early trend changes and/or micro trends.
How to use:
Due to its ATR nature the ATR trend will show trend changes by changing the trendline direction. This means that when the price crosses the trendline it does not automatically mean a trend change. However using the 'negative trend' option ATR trend can show early trend changes and therefore good entry points.
Some notes:
- A (confirmed) trend change is shown by a changing color and/or moving trendline (up/down)
- Unlike other indicators the 'time period' value is not the primary adjustment setting. This value is only used to calculate highest high & lowest low values and has medium impact on trend calculation. The primary adjustment setting is 'ATR weight'
- Every settings has a tooltip with further explanation
- I added additional color coding which uses a different color when the trend attempts to change but the trend change isn't confirmed (yet)
- Default values work fine (at least in my back testing) but the recommendation is to adjust the settings (especially ATR weight) to your trading style
- You can further finetune this indicator by using custom moving average types for the ATR calculation (like linear regression or Hull moving average)
- Both trendlines can be used to determine future support and resistance zones
- ATR trend can be used as a stop loss finder
- Alerts are using buy/sell signals
- You can use fancy color filling ;)
Happy trading!
Daniel
Alpha Schaff [AlgoAlpha]Description:
The Alpha Schaff indicator is a proprietary technical analysis tool that incorporates a modified version of the Schaff Trend Cycle (STC) to generate trading signals. The indicator is designed to identify potential overbought and oversold conditions in the market. It utilizes a combination of exponential moving averages (EMAs) and price volatility to generate trading signals. The plot of the indicator is derived from the opening price adjusted by a factor that depends on the Alpha Schaff value. A color scheme is used to indicate whether the current value is higher or lower than the previous value.
What is Alpha Schaff?:
Alpha Schaff is a technical indicator used in trading to identify potential trend reversals and confirm the strength of a current trend. It combines multiple moving averages and oscillators to generate buy and sell signals. Traders use Alpha Schaff to make informed decisions about entering or exiting positions based on its indications of trend momentum and market conditions.
Calculation:
The Alpha Schaff indicator calculates the difference between fast and slow EMAs based on the specified input lengths. It then measures the highest and lowest values of the difference over a defined sensitivity period. The indicator normalizes these values to a percentage scale to provide insights into the current market conditions.
How to use it?:
Monitor the color of the indicator line. A change in color indicates a potential trend reversal. For example, a switch from white to a purple color suggests a possible bullish trend, while a switch from a purple color to white indicates a potential bearish trend. Points of reversal can also be indicated by distinctive arrows pointing upwards or downward as well as visualized in bullish/bearish colors. The Distance between the indicator plot and the source can be interpreted as a measurement of price volatility. The script includes alert conditions that trigger when specific criteria are met. These alerts can notify users of potential buying or selling opportunities based on the indicator's signals.
Utility:
The Alpha Schaff is a trend-following indicator suitable for traders operating in trending markets. It offers clear and precise signals that provide valuable insights into bullish or bearish price movements. Additionally, this indicator stands out by incorporating distinctive arrows, indicating potential retracement points and allowing traders to anticipate mean reversion.
Originality:
The Alpha Schaff indicator, developed by AlgoAlpha introduces a proprietary modification to the Schaff Trend Cycle (STC) by incorporating multiple moving averages and oscillators. While the concept of the Schaff Trend Cycle exists, the specific implementation and combination of elements in the Alpha vSchaff indicator are unique to this tool. The inclusion of color schemes, arrow indicators, and volatility measurements sets it apart from other technical analysis indicators. Traders can benefit from its originality by utilizing its distinctive features to make more informed trading decisions in trending markets.
Targets For Overlay Indicators [LuxAlgo]The Targets For Overlay Indicators is a useful utility tool able to display targets during crossings made between the price and external indicators on the user chart. Users can display a series of two targets, one for crossover events and another one for crossunder event.
Alerts are included for the occurrence of a new target as well as for reached targets.
🔶 USAGE
In order for targets to be displayed users need to select an appropriate input source from the "Source" drop-down input setting. In the example above we apply the indicator to a volatility stop.
This can also easily be done by adding the "Targets For Overlay Indicators" script on the VStop indicator directly.
Targets can help users determine the price limit where the price might start deviating from an indication given by one or multiple indicators. In the context of trading, targets can help secure profits/reduce losses of a trade, as such this tool can be useful to evaluate/determine user take profits/stop losses.
Due to these essentially being horizontal levels, they can also serve as potential support/resistances, with breakouts potentially confirming new trends.
Users might be interested in obtaining new targets once one is reached, this can be done by enabling "New Target When Reached" in the target logic setting section, resulting in more frequent targets.
Lastly, users can restrict new target creation until current ones are reached. This can result in fewer and longer-term targets, with a higher reach rate.
🔹 Examples
The indicator can be applied to many overlay indicators that naturally produce crosses with the price, such as moving average, trailing stops, bands...etc.
Users can use trailing stops such as the SuperTrend or VStop to more easily create clean targets. Do note that certain SuperTrend scripts separate the upper and lower extremities of the SuperTrend into two different plot, which cannot be used with this tool, you may use the provided SuperTrend script below to have a compatible version with our tool:
//@version=5
indicator("SuperTrend", overlay = true)
factor = input.float(3, 'Factor', minval = 0)
atrLen = input.int(10, 'ATR Length', minval = 1)
= ta.supertrend(factor, atrLen)
plot(spt, 'SuperTrend', dir != dir ? na : dir < 0 ? #089981 : #f23645, 2)
plot(spt, 'Circles', dir > dir ? #f23645 : dir < dir ? #089981 : na, 3, plot.style_circles)
Using moving averages can produce more targets than other overlay indicators.
Users can apply the tool twice when using bands or any overlay indicator returning two outputs, using crossover targets for obtaining targets using the upper band as source and crossunder targets for targets using the lower band. We can also use the Trendlines with breaks indicator as example:
🔹 Dashboard
A dashboard is displayed on the top right of the chart, displaying the amount, reach rate of targets 1/2, and total amount.
This dashboard can be useful to evaluate the selected target distances relative to the selected conditions, with a higher reach rate suggesting the distance of the targets from the price allows them to be reached.
🔶 SETTINGS
Source: Indicator source used to create targets. Targets are created when the closing price crosses the specified source.
Show Target Labels: Display target labels on the chart.
Candle Coloring: Apply candle coloring based on the most recent active target.
🔹 Target
Crossover and Crossunder targets use the same settings below:
Show Target: Determines if the target is displayed or not.
Above Price Target: If selected, will create targets above the closing price.
Wait Until Reached: When enabled will not create a new target until an existing one is reached.
New Target When Reached: Will create a new target when an existing one is reached.
Evaluate Wicks: Will use high/low prices to determine if a target is reached. Unselecting this setting will use the closing price.
Target Distance From Price: Controls the distance of a target from the price. Can be determined in currencies/points, percentages, ATR multiples, or ticks.
SuperTrend ToolkitThe SuperTrend Toolkit (Super Kit) introduces a versatile approach to trend analysis by extending the application of the SuperTrend indicator to a wide array of @TradingView's built-in or Community Scripts . This tool facilitates the integration of the SuperTrend algorithm with various indicators, including oscillators, moving averages, overlays, and channels.
Methodology:
The SuperTrend, at its core, calculates a trend-following indicator based on the Average-True-Range (ATR) and price action. It creates dynamic support and resistance levels, adjusting to changing market conditions, and aiding in trend identification.
pine_st(simple float factor = 3., simple int length = 10) =>
float atr = ta.atr(length)
float up = hl2 + factor * atr
up := up < nz(up ) or close > nz(up ) ? up : nz(up )
float lo = hl2 - factor * atr
lo := lo > nz(lo ) or close < nz(lo ) ? lo : nz(lo )
int dir = na
float st = na
if na(atr )
dir := 1
else if st == nz(up )
dir := close > up ? -1 : 1
else
dir := close < lo ? 1 : -1
st := dir == -1 ? lo : up
@TradingView's native SuperTrend lacks the flexibility to incorporate different price sources into its calculation.
Community scripts, addressed the limitation by implementing the option to input different price sources, for example, one of the most popular publications, @KivancOzbilgic's SuperTrend script.
In May 2023, @TradingView introduced an update allowing the passing of another indicator's plot as a source value via the input.source() function. However, the built-in ta.atr function still relied on the chart's price data, limiting the formerly mentioned scripts to the chart's price data alone.
Unique Approach -
This script addresses the aforementioned limitations by processing the data differently.
Firstly we create a User-Defined-Type (UDT) replicating a bar's open, high, low, close (OHLC) values.
type bar
float o = open
float h = high
float l = low
float c = close
We then use this type to store the external input data.
src = input.source(close, "External Source")
bar b = bar.new(
nz(src ) , open 𝘷𝘢𝘭𝘶𝘦
math.max(nz(src ), src), high 𝘷𝘢𝘭𝘶𝘦
math.min(nz(src ), src), low 𝘷𝘢𝘭𝘶𝘦
src ) close 𝘷𝘢𝘭𝘶𝘦
Finally, we pass the data into our custom built SuperTrend with ATR functions to derive the external source's version of the SuperTrend indicator.
supertrend st = b.st(mlt, len)
- Setup Guide -
Utility and Use Cases:
Universal Compatibility - Apply SuperTrend to any built-in indicator or script, expanding its use beyond traditional price data.
- A simple example on one of my own public scripts -
Trend Analysis - Gain additional trend insights into otherwise mainly mean reverting or volume indicators.
- Alerts Setup Guide -
The Super Kit empowers traders and analysts with a tool that adapts the robust SuperTrend algorithm to a myriad of indicators, allowing comprehensive trend analysis and strategy development.
Rainbow Fibonacci Momentum - SuperTrend🌈 "Rainbow Fibonacci Momentum - SuperTrend" Indicator 🌈
IMPORTANT: as this is a complex and elaborate TREND ANALYSIS on the graph, ALL INDICATORS REPAINT.
Experience the brilliance of "Rainbow Fibonacci Momentum - SuperTrend" for your technical analysis on TradingView! This versatile indicator allows you to visualize various types of Moving Averages, including Simple Moving Averages (SMA), Exponential Moving Averages (EMA), Weighted Moving Averages (WMA), Hull Moving Averages (HMA), and Volume Weighted Moving Averages (VWMA).
Each MA displayed in a unique color to create a stunning rainbow effect. This makes it easier for you to identify trends and potential trading opportunities.
Key Features:
📊 Multiple Moving Average Types - Choose from a range of moving average types to suit your analysis.
🎨 Stunning Color Gradient - Each moving average type is displayed in a unique color, creating a beautiful rainbow effect.
📉 Overlay Compatible - Use it as an overlay on your price chart for clear trend insights.
With the "Rainbow Fibonacci Momentum - SuperTrend" indicator, you'll add a burst of color to your trading routine and gain a deeper understanding of market trends.
HOW IT WORKS
MA Lines:
MA - 5: purple lines
MA - 8: blue lines
MA - 13: green lines
MA - 21: yellow lines
MA - 34: orange lines
MA - 55: red line
Header Color Indicators:
Purple: MA-5 is in uptrend on the chart
Blue: MA-5 and MA-8 are in the uptrend on the chart
Green: MA-5, MA-8 and MA-13 are in the uptrend on the chart
Yellow: MA-5, MA-8, MA-13 and MA-21 are in the uptrend on the chart
Orange: MA-5, MA-8, MA-13, MA-21 and MA-34 are in the uptrend on the chart
Red: MA-5, MA-8, MA-13, MA-21, MA-34 and MA-55 are in the uptrend on the chart
Red + White Arrow: All MAs are correctly aligned in the uptrend on the chart
Footer Color Indicators:
Purple: MA-5 is in downtrend on the chart
Blue: MA-5 and MA-8 are in the downtrend on the chart
Green: MA-5, MA-8 and MA-13 are in the downtrend on the chart
Yellow: MA-5, MA-8, MA-13 and MA-21 are in the downtrend on the chart
Orange: MA-5, MA-8, MA-13, MA-21 and MA-34 are in the downtrend on the chart
Red: MA-5, MA-8, MA-13, MA-21, MA-34 and MA-55 are in the downtrend on the chart
Red + White Arrow: All MAs are correctly aligned in the downtrend on the chart
Background Colors:
Light Red: All MAs are on the rise!
Red: All MAs are align correctly on the rise!
Light Green: All MAs are in freefall!
Green: All MAs are align correctly in freefall!
Tiny Arrows Indicators/Alerts:
Down Arrow: All MAs are in freefall!
Up Arrow: All MAs are on the rise!
Big Arrows Indicators/Alerts:
Down Arrow: All MAs are align correctly in freefall!
Up Arrow: All MAs are align correctly on the rise!
Harmonic Trend Fusion [kikfraben]📈 Harmonic Trend Fusion - Your Personal Trading Assistant
This versatile tool combines multiple indicators to provide a holistic view of market trends and potential signals.
🚀 Key Features:
Multi-Indicator Synergy: Benefit from the combined insights of Aroon, DMI, MACD, Parabolic SAR, RSI, Supertrend, and SMI Ergodic Oscillator, all in one powerful indicator.
Customizable Plot Options: Tailor your chart by choosing which signals to visualize. Whether you're interested in trendlines, histograms, or specific indicators, the choice is yours.
Color-Coded Trends: Quickly identify bullish and bearish trends with the color-coded visualizations. Stay ahead of market movements with clear and intuitive signals.
Table Display: Stay informed at a glance with the interactive table. It dynamically updates to reflect the current market sentiment, providing you with key information and trend direction.
Precision Control: Fine-tune your analysis with precision control over indicator parameters. Adjust lengths, colors, and other settings to align with your unique trading strategy.
🛠️ How to Use:
Customize Your View: Select which indicators to display and adjust plot options to suit your preferences.
Table Insights: Monitor the dynamic table for real-time updates on market sentiment and trend direction.
Indicator Parameters: Experiment with different lengths and settings to find the combination that aligns with your trading style.
Whether you're a seasoned trader or just starting, Harmonic Trend Fusion equips you with the tools you need to navigate the markets confidently. Take control of your trading journey and enhance your decision-making process with this comprehensive trading assistant.
Micro Dots with VMA line [Crypto_Chili_]In the chart photo is a quick description of each part of the indicator is.
The Micro Dots were hours of testing different combinations of indicators and settings to find what looked and worked best. This is what I came up with, use it as a rough draft as it could probably be added to or changed around.
One simple way to use the indicator is if price is above VMA with green dots, look to long. If price is below VMA with red dots look to short.
Variable Moving Average - Also known as VMA or Track Line, is an Exponential Moving Average. VMA adjusts its smoothing constant on the basis of Market Volatility. This can help to measure the macro trend.
Micro Trend Dots - A Supertrend with extras filters. Supertrend is a trend-following indicator based on ATR (In this indicator TrueRange instead). The extra filters on top of the Supertrend help add confluence to them to give more confidence in the micro trend.
Credit to @LazyBear for the Variable Moving Average
Credit to @KivancOzbilgic for his Supertrend
Send me a message if you create something with the Micro Dots I'd love it see it!
Thank you friends I hope you enjoy!
No Signal is 100% correct at what it's trying to do. Use caution when trading!
Practice Risk Management.
Standardized SuperTrend Oscillator
The Standardized SuperTrend Oscillator (SSO) is a versatile tool that transforms the SuperTrend indicator into an oscillator, offering both trend-following and mean reversion capabilities. It provides deeper insights into trends by standardizing the SuperTrend with respect to its upper and lower bounds, allowing traders to identify potential reversals and contrarian signals.
Methodology:
Lets begin with describing the SuperTrend indicator, which is the fundamental tool this script is based on.
SuperTrend:
The SuperTrend is calculated based on the average true range (ATR) and multiplier. It identifies the trend direction by placing a line above or below the price. In an uptrend, the line is below the price; in a downtrend, it's above the price.
pine_st(float src = hl2, float factor = 3., simple int len = 10) =>
float atr = ta.atr(len)
float up = src + factor * atr
up := up < nz(up ) or close > nz(up ) ? up : nz(up )
float lo = src - factor * atr
lo := lo > nz(lo ) or close < nz(lo ) ? lo : nz(lo )
int dir = na
float st = na
if na(atr )
dir := 1
else if st == nz(up )
dir := close > up ? -1 : 1
else
dir := close < lo ? 1 : -1
st := dir == -1 ? lo : up
SSO Oscillator:
The SSO is derived from the SuperTrend and the source price. It calculates the standardized difference between the SuperTrend and the source price. The standardization is achieved by dividing this difference by the distance between the upper and lower bounds of the SuperTrend.
float sso = (src - st) / (up - lo)
Components and Features:
SuperTrend of Oscillator - An additional SuperTrend based on the direction and volatility of the oscillator, behaving as the SuperTrend OF the SuperTrend. This provides further trend analysis of the underlying broad trend regime.
Reversion Tracer - The RSI of the direction of the original SuperTrend, providing a dynamic threshold for premium and discount price areas.
float rvt = ta.rsi(dir, len)
Heikin Ashi Transform - An option to apply the Heikin Ashi transform to the source price of the oscillator, providing a smoother visual representation of trends.
Display Modes - Choose between Line mode for a standard oscillator view or Candle mode, displaying the oscillator as Heikin Ashi candles for more in-depth trend analysis.
Contrarian and Reversion Signals:
Contrarian Signals - Based on the SuperTrend of the oscillator, these signals can act as potential buy or sell indications, highlighting potential trend exhaustion or premature reversals.
Reversion Signals - Generated when the oscillator crosses above or below the Reversion Tracer, signaling potential mean reversion opportunities or trend breakouts.
Utility and Use Cases:
Trend Analysis - Utilize the SSO as a trend-following tool with the added benefits of the oscillator's SuperTrend and Heikin Ashi transform.
Valuation Analysis - Leverage the oscillator's reversion signals for identifying potential mean reversion opportunities in the market.
The Standardized SuperTrend Oscillator enhances the capabilities of the SuperTrend indicator, offering a balanced approach to both trend-following and mean reversion strategies. Its customizable options and contrarian signals make it a valuable instrument for traders seeking comprehensive trend analysis and potential reversal signals.
SuperTrend Polyfactor Oscillator [LuxAlgo]The SuperTrend Polyfactor Oscillator is an oscillator based on the popular SuperTrend indicator that aims to highlight information returned by a collection of SuperTrends with varying factors inputs.
A general consensus is calculated from all this information, returning an indication of the current market sentiment.
🔶 USAGE
Multiple elements are highlighted by the proposed oscillator. A mesh of bars is constructed from the difference between the price and a total of 20 SuperTrends with varying factors. Brighter colors of the mesh indicate a higher amount of aligned SuperTrends indications.
The factor input of the SuperTrends is determined by the user from the Starting Factor setting which determines the factor of the shorter-term SuperTrend, and the Increment settings which control the step between each factor inputs.
Using higher values for these settings will return information for longer-term term price variations.
🔹 Consensus
From the collection of SuperTrends, a consensus is obtained. It is calculated as the median of all the differences between the price and the collection of SuperTrends.
This consensus is highlighted in the script by a blue and orange line, with a blue color indicating an overall bullish market, and orange indicating a bearish market.
Both elements can be used together to highlight retracements within a trend. If we see various red bars while the general consensus is bullish, we can interpret it as the presence of a retracement.
🔹 StDev Area
The indicator includes an area constructed from the standard deviation of all the differences between the price and the collection of SuperTrends.
This area can be useful to see if the market is overall trending or ranging, with a consensus over the area indicative of a trending market.
🔹 Normalization
Users can decide to normalize the results and constrain them within a specific range, this can allow obtaining a lower degree of variations of the indicator outputs. Two methods are proposed "Absolute Sum", and "Max-Min".
The "Absolute Sum" method will divide any output returned by the indicator by the absolute sum of all the differences between the price and SuperTrends. This will constrain all the indicator elements in a (1, -1) scale.
The "Max-Min" method will apply min-max normalization to the indicator outputs (with the exception of the stdev area). This will constrain all the indicator elements in a (0, 1) scale.
🔶 SETTINGS
Length: ATR Length of all calculated SuperTrends.
Starting Factor: Factor input of the shorter-term SuperTrend.
Increment: Step value between all SuperTrends factors.
Normalize: Normalization method used to rescale the indicator output.
Supertrend Multiasset Correlation - vanAmsen Hello traders!
I am elated to introduce the "Supertrend Multiasset Correlation" , a groundbreaking fusion of the trusted Supertrend with multi-asset correlation insights. This approach offers traders a nuanced, multi-layered perspective of the market.
The Underlying Concept:
Ever pondered over the term Multiasset Correlation?
In the intricate tapestry of financial markets, assets do not operate in silos. Their movements are frequently intertwined, sometimes palpably so, and at other times more covertly. Understanding these correlations can unlock deeper insights into overarching market narratives and directional trends.
By melding the Supertrend with multi-asset correlations, we craft a holistic narrative. This allows traders to fathom not merely the trend of a lone asset but to appreciate its dynamics within a broader market tableau.
Strategy Insights:
At the core of this indicator is its strategic approach. For every asset, a signal is generated based on the Supertrend parameters you've configured. Subsequently, the correlation of daily price changes is assessed. The ultimate signal on the selected asset emerges from the average of the squared correlations, factoring in their direction. This indicator not only accounts for the asset under scrutiny (hence a correlation of 1) but also integrates 12 additional assets. By default, these span U.S. growth ETFs, value ETFs, sector ETFs, bonds, and gold.
Indicator Highlights:
The "Supertrend Multiasset Correlation" isn't your run-of-the-mill Supertrend adaptation. It's a bespoke concoction, tailored to arm traders with an all-encompassing view of market intricacies, fortified with robust correlation metrics.
Key Features:
- Supertrend Line : A crystal-clear visual depiction of the prevailing market trajectory.
- Multiasset Correlation : Delve into the intricate interplay of various assets and their correlation with your primary instrument.
- Interactive Correlation Table : Nestled at the top right, this table offers a succinct overview of correlation metrics.
- Predictive Insights : Leveraging correlations to proffer predictive pointers, adding another layer of conviction to your trades.
Usage Nuances:
- The bullish Supertrend line radiates in a rejuvenating green hue, indicative of potential upward swings.
- On the flip side, the bearish trajectory stands out in a striking red, signaling possible downtrends.
- A rich suite of customization tools ensures that the chart resonates with your trading ethos.
Parting Words:
While the "Supertrend Multiasset Correlation" bestows traders with a rejuvenated perspective, it's paramount to embed it within a comprehensive trading blueprint. This would include blending it with other technical tools and adhering to stringent risk management practices. And remember, before plunging into live trades, always backtest to fine-tune your strategies.
Supertrend Forecast - vanAmsenHello everyone!
I am thrilled to present the "vanAmsen - Supertrend Forecast", an advanced tool that marries the simplicity of the Supertrend with comprehensive statistical insights.
Before we dive into the functionalities of this indicator, it's essential to understand its foundation and theory.
The Theory:
What exactly is the Supertrend?
The Supertrend, at its core, is a momentum oscillator. It's a tool that provides buy and sell signals based on the prevailing market trend. The underlying principle is straightforward: by analyzing average price data and volatility over a period, the Supertrend gives us a line that represents the trend direction.
However, trading isn't just about identifying trends; it's about understanding their strength, potential profitability, and historical accuracy. This is where statistics come into play. By incorporating statistical analysis into the Supertrend, we can gain deeper insights into the market's behavior.
Description:
The "vanAmsen - Supertrend Forecast" isn't just another Supertrend indicator. It's a comprehensive tool designed to offer traders a holistic view of market trends, backed by robust statistical analysis.
Key Features:
- Supertrend Line: A visual representation of the current market direction.
- Win Rate & Expected Return: Delve into the historical accuracy and profitability of the prevailing trend.
- Average Percentage Change: Understand the average price fluctuation for both winning and losing trends.
- Forecast Lines: Project future price movements based on historical data, providing a roadmap for potential scenarios.
- Interactive Table: A concise table in the top right, offering a snapshot of all vital metrics at a glance.
Usage:
- The bullish Supertrend line adopts an Aqua hue, indicating potential upward momentum.
- In contrast, the bearish line is painted in Orange, suggesting potential downtrends.
- Customize your chart by toggling labels, tables, and lines according to preference.
Recommendation:
The "vanAmsen - Supertrend Forecast" is undoubtedly a powerful tool in a trader's arsenal. However, it's imperative to combine it with other technical analysis tools and sound risk management practices. It's always prudent to backtest strategies with historical data before embarking on live trading.
Supertrend x4 w/ Cloud FillSuperTrend is one of the most common ATR based trailing stop indicators.
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. In this version you can change the ATR calculation method from the settings. Default method is RMA, when the alternative method is SMA.
The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier.
The implementation of 4 supertrends and cloud fills allows for a better overall picture of the higher and lower timeframe trend one is trading a particular security in.
The default values used while constructing a supertrend indicator is 10 for average true range or trading period.
The key aspect what differentiates this indicator is the Multiplier. The multiplier is based on how much bigger of a range you want to capture. In our case by default, it starts with 2.636 and 3.336 for Set 1 & Set 2 respectively giving a narrow band range or Short Term (ST) timeframe visual. On the other hand, the multipliers for Set 3 & Set 4 goes up to 9.736 and 8.536 for the multiplier respectively giving a large band range or Long Term (LT) timeframe visual.
A ‘Supertrend’ indicator can be used on equities, futures or forex, or even crypto markets and also on minutes, hourly, daily, and weekly charts as well, but generally, it fails in a sideways-moving market. That's why with this implementation it enables one to stay out of the market if they choose to do so when the market is ranging.
This Supertrend indicator is modelled around trends and areas of interest versus buy and sell signals. Therefore, to better understand this indicator, one must calibrate it to one's need first, which means day trader (shorter timeframe) vs swing trader (longer time frame), and then understand how it can be utilized to improve your entries, exits, risk and position sizing.
Example:
In this chart shown above using SPX500:OANDA, 15R Time Frame, we can see that there is at any give time 1 to 4 clouds/bands of Supertrends. These four are called Set 1, Set 2, Set 3 and Set 4 in the indicator. Set's 1 & 2 are considered short term, whereas Set's 3 & 4 are considered long term. The term short and long are subjective based on one's trading style. For instance, if a person is a 1min chart trader, which would be short term, to get an idea of the trend you would have to look at a longer time frame like a 5min for instance. Similarly, in this cases the timeframes = Multiplier value that you set.
Optional Ideas:
+ Apply some basic EMA/SMA indicator script of your choice for easier understanding of the trend or to allow smooth transition to using this indicator.
+ Split the chart into two vertical layouts and applying this same script coupled with xdecow's 2 WWV candle painting script on both the layouts. Now you can use the left side of the chart to show all bearish move candles only (make the bullish candles transparent) and do the opposite for the right side of the chart. This way you enhance focus to just stick to one side at a given time.
Credits:
This indicator is a derivative of the fine work done originally by KivancOzbilgic
Here is the source to his original indicator: ).
Disclaimer:
This indicator and tip is for educational and entertainment purposes only. This not does constitute to financial advice of any sort.
DIY Custom Strategy Builder [ZP] - v1DISCLAIMER:
This indicator as my first ever Tradingview indicator, has been developed for my personal trading analysis, consolidating various powerful indicators that I frequently use. A number of the embedded indicators within this tool are the creations of esteemed Pine Script developers from the TradingView community. In recognition of their contributions, the names of these developers will be prominently displayed alongside the respective indicator names. My selection of these indicators is rooted in my own experience and reflects those that have proven most effective for me. Please note that the past performance of any trading system or methodology is not necessarily indicative of future results. Always conduct your own research and due diligence before using any indicator or tool.
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Introducing the ultimate all-in-one DIY strategy builder indicator, With over 30+ famous indicators (some with custom configuration/settings) indicators included, you now have the power to mix and match to create your own custom strategy for shorter time or longer time frames depending on your trading style. Say goodbye to cluttered charts and manual/visual confirmation of multiple indicators and hello to endless possibilities with this indicator.
What it does
==================
This indicator basically help users to do 2 things:
1) Strategy Builder
With more than 30 indicators available, you can select any combination you prefer and the indicator will generate buy and sell signals accordingly. Alternative to the time-consuming process of manually confirming signals from multiple indicators! This indicator streamlines the process by automatically printing buy and sell signals based on your chosen combination of indicators. No more staring at the screen for hours on end, simply set up alerts and let the indicator do the work for you.
Available indicators that you can choose to build your strategy, are coded to seamlessly print the BUY and SELL signal upon confirmation of all selected indicators:
EMA Filter
2 EMA Cross
3 EMA Cross
Range Filter (Guikroth)
SuperTrend
Ichimoku Cloud
SuperIchi (LuxAlgo)
B-Xtrender (QuantTherapy)
Bull Bear Power Trend (Dreadblitz)
VWAP
BB Oscillator (Veryfid)
Trend Meter (Lij_MC)
Chandelier Exit (Everget)
CCI
Awesome Oscillator
DMI ( Adx )
Parabolic SAR
Waddah Attar Explosion (Shayankm)
Volatility Oscillator (Veryfid)
Damiani Volatility ( DV ) (RichardoSantos)
Stochastic
RSI
MACD
SSL Channel (ErwinBeckers)
Schaff Trend Cycle ( STC ) (LazyBear)
Chaikin Money Flow
Volume
Wolfpack Id (Darrellfischer1)
QQE Mod (Mihkhel00)
Hull Suite (Insilico)
Vortex Indicator
2) Overlay Indicators
Access the full potential of this indicator using the SWITCH BOARD section! Here, you have the ability to turn on and plot up to 14 of the included indicators on your chart. Simply select from the following options:
EMA
Support/Resistance (HeWhoMustNotBeNamed)
Supply/ Demand Zone ( SMC ) (Pmgjiv)
Parabolic SAR
Ichimoku Cloud
Superichi (LuxAlgo)
SuperTrend
Range Filter (Guikroth)
Average True Range (ATR)
VWAP
Schaff Trend Cycle ( STC ) (LazyBear)
PVSRA (TradersReality)
Liquidity Zone/Vector Candle Zone (TradersReality)
Market Sessions (Aurocks_AIF)
How it does it
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To explain how this indictor generate signal or does what it does, its best to put in points.
I have coded the strategy for each of the indicator, for some of the indicator you will see the option to choose strategy variation, these variants are either famous among the traders or its the ones I found more accurate based on my usage. By coding the strategy I will have the BUY and SELL signal generated by each indicator in the backend.
Next, the indicator will identify your selected LEADING INDICATOR and the CONFIRMATION INDICATOR(s).
On each candle close, the indicator will check if the selected LEADING INDICATOR generates signal (long or short).
Once the leading indicator generates the signal, then the indicator will scan each of the selected CONFIRMATION INDICATORS on candle close to check if any of the CONFIRMATION INDICATOR generated signal (long or short).
Until this point, all the process is happening in the backend, the indicator will print LONG or SHORT signal on the chart ONLY if LEADING INDICATOR and all the selected CONFIRMATION INDICATORS generates signal on candle close. example for long signal, the LEADING INDICATOR and all selected CONFIRMATION INDICATORS must print long signal.
The dashboard table will show your selected LEADING and CONFIRMATION INDICATORS and if LEADING or the CONFIRMATION INDICATORS have generated signal. Signal generated by LEADING and CONFIRMATION indicator whether long or short, is indicated by tick icon ✔. and if any of the selected CONFIRMATION or LEADING indicator does not generate signal on candle close, it will be indicated with cross symbol ✖.
how to use this indicator
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Using the indicator is pretty simple, but it depends on your goal, whether you want to use it for overlaying the available indicators or using it to build your strategy or for both.
To use for Building your strategy: Select your LEADING INDICATOR, and then select your CONFIRMATION INDICATOR(s). if on candle close all the indicators generate signal, then this indicator will print SHORT or LONG signal on the chart for your entry. There are plenty of indicators you can use to build your strategy, some indicators are best for longer time frame setups while others are responsive indicators that are best for short time frame.
To use for overlaying the indicators: Open the setting of this indicator and scroll to the SWITCHBOARD section, from there you can select which indicator you want to plot on the chart.
For each of the listed indicators, you have the flexibility to customize the settings and configurations to suit your preferences. simply open indicator setting and scroll down, you will find configuration for each of the indicators used.
I will also release the Strategy Backtester for this indicator soon.
Daily TrendDescription:
The "Daily Trend" script is a powerful technical analysis tool designed for TradingView. This indicator helps traders identify key support and resistance levels based on daily price data. It offers a visual representation of these levels, along with other technical indicators like Exponential Moving Averages (EMA), Supertrend, and Parabolic SAR.
Features:
Past Candle Price Levels: This script calculates and displays past daily candle price levels, including R1, R2, R3, R4, S1, S2, S3, and S4. These levels are vital for identifying potential reversals and breakout points.
Exponential Moving Average (EMA): The script includes an EMA indicator with a customizable period to help traders spot the trend direction and potential crossovers.
Supertrend Indicator: The Supertrend indicator is used to identify trend changes. It plots the Supertrend line and highlights the trend direction with color-coded regions.
Parabolic SAR: The Parabolic SAR indicator is integrated into the script to assist traders in identifying potential entry and exit points in the market.
Customizable Alerts: Traders can customize the indicator by choosing which past candle price levels and other features to display on the chart.
How to Use:
Apply the "Daily Trend" script to your TradingView chart.
Customize the indicator by enabling or disabling specific features, such as past candle price levels and EMA.
Pay attention to the color-coded regions for Supertrend and Parabolic SAR to determine the current trend direction.
Look for potential reversal or bounce signals based on the indicator's signals and the price action.
Consider using this script in conjunction with your trading strategy for enhanced technical analysis.
Risk Warning: Trading involves significant risk, and past performance is not indicative of future results. Always practice proper risk management and consider the broader context of the market before making trading decisions.
Market TrendMarket Trend by Trading Ninjaa
Description:
The "Market Trend" indicator is designed to provide traders with a clear visual representation of the prevailing market direction. By utilizing a higher timeframe moving average, this tool offers insights into the broader market trend. The indicator identifies:
Uptrends: When the price is above the higher timeframe moving average, the background is shaded green.
Downtrends: When the price is below the higher timeframe moving average, the background is shaded red.
Sideways Markets: Recognized by decreased volatility, these periods are shaded in gray.
Usage:
Green Background: Indicates bullish market conditions. Traders might consider long entries or avoiding short trades.
Red Background: Suggests bearish market conditions. Might be used as a signal to consider short entries or avoid long positions.
Gray Background: Highlights potential sideways or consolidating market conditions. Traders might exercise caution, considering range-bound strategies.
Tips:
This indicator is best used in conjunction with other technical tools for confirmation. Always backtest any new strategy involving this indicator before considering it for live trading.
TTP SuperTrend ADXThis indicator uses the strength of the trend from ADX to decide how the SuperTrend (ST) should behave.
Motivation
ST is a great trend following indicator but it's not capable of adapting to the trend strength.
The ADX, Average Directional Index measures the strength of the trend and can be use to dynamically tweak the ST factor so that it's sensitivity can adapt to the trend strength.
Implementation
The indicator calculates a normalised value of the ADX based on the data available in the chart.
Based on these values ST will use different factors to increase or reduce the factor use by ST: expansion or compression.
ST expansion vs compression
Expanding the ST would mean that the stronger a trends get the ST factor will grow causing it to distance further from the price delaying the next ST trend flip.
Compressing the ST would mean that the stronger a trends get the ST factor will shrink causing it to get closer to the price speeding up the next ST trend flip.
Features
- Alerts for trend flip
- Alerts for trend status
- Backtestable stream
- SuperTrend color gets more intense with the strength of the trend
SuperTrend ZoneThe SuperTrend Zone indicator is a tool designed to help traders identify the best zone to enter in a position revisiting the usage of the standard SuperTrend indicator.
In the settings you can chose the ATR length and the Factor of the indicator, and in addition to that you can also change the multiplier for the zone width.
This indicator provide two different SuperTrend indicator, the first one has the settings that you chose and display the zone, meanwhile the second one has double the parameters you have chosen and can be used to determine the long term trend direction.
Pro Supertrend CalculatorThis indicator is an adapted version of Julien_Eche's 'Pro Momentum Calculator' tailored specifically for TradingView's 'Supertrend indicator'.
The "Pro Supertrend Calculator" indicator has been developed to provide traders with a data-driven perspective on price movements in financial markets. Its primary objective is to analyze historical price data and make probabilistic predictions about the future direction of price movements, specifically in terms of whether the next candlestick will be bullish (green) or bearish (red). Here's a deeper technical insight into how it accomplishes this task:
1. Supertrend Computation:
The indicator initiates by computing the Supertrend indicator, a sophisticated technical analysis tool. This calculation involves two essential parameters:
- ATR Length (Average True Range Length): This parameter determines the sensitivity of the Supertrend to price fluctuations.
- Factor: This multiplier plays a pivotal role in establishing the distance between the Supertrend line and prevailing market prices. A higher factor value results in a more significant separation.
2. Supertrend Visualization:
The Supertrend values derived from the calculation are meticulously plotted on the price chart, manifesting as two distinct lines:
- Green Line: This line represents the Supertrend when it indicates a bullish trend, signifying an anticipation of rising prices.
- Red Line: This line signifies the Supertrend in bearish market conditions, indicating an expectation of falling prices.
3. Consecutive Candle Analysis:
- The core function of the indicator revolves around tracking successive candlestick patterns concerning their relationship with the Supertrend line.
- To be included in the analysis, a candlestick must consistently close either above (green candles) or below (red candles) the Supertrend line for multiple consecutive periods.
4.Labeling and Enumeration:
- To communicate the count of consecutive candles displaying uniform trend behavior, the indicator meticulously applies labels to the price chart.
- The positioning of these labels varies based on the direction of the trend, residing either below (for bullish patterns) or above (for bearish patterns) the candlestick.
- The color scheme employed aligns with the color of the candle, using green labels for bullish candles and red labels for bearish ones.
5. Tabular Data Presentation:
- The indicator augments its graphical analysis with a customizable table prominently displayed on the chart. This table delivers comprehensive statistical insights.
- The tabular data comprises the following key elements for each consecutive period:
a. Consecutive Candles: A tally of the number of consecutive candles displaying identical trend characteristics.
b. Candles Above Supertrend: A count of candles that remained above the Supertrend during the sequential period.
3. Candles Below Supertrend: A count of candles that remained below the Supertrend during the sequential period.
4. Upcoming Green Candle: An estimation of the probability that the next candlestick will be bullish, grounded in historical data.
5. Upcoming Red Candle: An estimation of the probability that the next candlestick will be bearish, based on historical data.
6. Tailored Configuration:
To accommodate diverse trading strategies and preferences, the indicator offers extensive customization options. Traders can fine-tune parameters such as ATR length, factor, label and table placement, and table size to align with their unique trading approaches.
In summation, the "Pro Supertrend Calculator" indicator is an intricately designed tool that leverages the Supertrend indicator in conjunction with historical price data to furnish traders with an informed outlook on potential future price dynamics, with a particular emphasis on the likelihood of specific bullish or bearish candlestick patterns stemming from consecutive price behavior.
