Earlier this week, published an idea on how harmonic patterns can be used for trend following. This script is an attempt to implement the same.
🎲 Process
🎯 Derive Zigzag and scan harmonic patterns for last 5 confirmed pivots
🎯 If a pattern is found, highest point of pattern will become the bullish zone and lower point of the pattern will become bearish zone.
🎯...
Strategy Time!!!
Have built this on my earlier published indicator Band-Zigzag-Trend-Follower . This is just one possible implementation of strategy on Band-Based-Zigzag .
🎲 Notes
Experimental prototype. Not financial advise and strategy not guaranteed to make money despite backtest results
Not created or tested for any specific instrument or...
We defined new method to derive zigzag last month - which is called Channel-Based-Zigzag . This script is an example of one of the use case of this method.
🎲 Trend Following
Defining a trend following method is simple. Basic rule of trend following is Buy High and Sell Low (Yes, you heard it right). To explain further - methodology involve finding an...
Many times while developing algos based on patterns and reversals, I come across issues which needs lower timeframe inspection. Loading multiple charts and comparing equivalent lower timeframe is slightly cumbersome at times. Hence, I thought of building this simple tool - which will instantly provide me lower timeframe candles for given candle. Since the candle...
Library "DataCorrelation"
Implementation of functions related to data correlation calculations. Formulas have been transformed in such a way that we avoid running loops and instead make use of time series to gradually build the data we need to perform calculation. This allows the calculations to run on unbound series, and/or higher number of samples
🎲...
This is my first attempt on implementing a statistical method. This problem was given to me by @lejmer (who also helped me later on building more efficient code to achieve this) when we were debating on the need for higher resource allocation to run scripts so it can run longer and faster. The major problem faced by those who want to implement statistics based...
Library "eHarmonicpatternsLogScale"
Library provides functions to scan harmonic patterns both or normal and log scale
getSupportedPatterns()
get_prz_range(x, a, b, c, patternArray, errorPercent, start_adj, end_adj, logScale)
Provides PRZ range based on BCD and XAD ranges
Parameters:
x : X coordinate value
a : A coordinate value
b : B...
Extending the earlier implemented concept of Harmonic-Patterns-Based-Trend-Follower , in this script, lets make it work as supertrend so that it is more easier to operate.
🎲 Process
🎯 Derive Zigzag and scan harmonic patterns for last 5 confirmed pivots
🎯 If a pattern is found, bullish and bearish zones are calculated based on parameter Base
🎯 These bullish and...
Library "FibRatios"
Library with calculation logic for fib retracement, extension and ratios
retracement(a, b, ratio, logScale, precision)
Calculates the retracement for points a, b with given ratio and scale
Parameters:
a : Starting point a
b : Second point b
ratio : Ratio for which we need to calculate retracement c
logScale : Flag...
Hello Everyone,
Wish you all Merry X-Mas and happy new year. Lets start 2023 with fresh new strategy built on Wolfe Indicator. Details of the indicator can be found here
🎲 Wolfe Concept
Wolfe concept is simple. Whenever a wedge is formed, draw a line joining pivot 1 and 4 as shown in the chart below:
For simplicity, we will only consider static value for...
Similar to RelativeBandwidthFilter , this script is also a simple trend filter which can be used to define your trading zone.
🎲 Concept
On contrary to reversal mindset, we define trend when price hits either side of the band. If close price hits upper band then it is considered as bullish and if close price hits lower band, then it is considered bearish....
🎲 Concept
Zigzag is built based on the price and number of offset bars. But, in this experiment, we build zigzag based on different bands such as Bollinger Band, Keltner Channel and Donchian Channel. The process is simple:
🎯 Derive bands based on input parameters
🎯 High of a bar is considered as pivot high only if the high price is above or equal to upper...
Still experimental. Extending further on the divergence backtest results - in this script we try to project next 2 pivots (including one unconfirmed pivot)
🎲 Previous experiments
1. Divergence-Backtester
2. Divergence-Backtester-V2
🎲 Additions
Apart from collecting the stats on number of occurrences of HH, HL, LH, LL - this script also keeps track of...
I started off with the intention of creating script to identify Wolfe wave projection. But, soon ran into problem with loops. Realized drawing wedge is more difficult than drawing converging triangle. Hence, took a step back and started working on wedges and triangle identification. Ended up with a messy output which looked like this.
Had to take another step...
Before getting into the script, I would like to explain bit of history around this project. Wolfe was in the back of my mind for some time and I had several attempts so far.
🎯Initial Attempt
When I first developed harmonic patterns, I got many requests from users to develop script to automatically detect Wolfe formation. I thought it would be easy and started...
Using moving average crossover for identifying the change in trend is very common. However, this method can give lots of false signals during the ranging markets. In this algorithm, we try to find the extreme trend by looking at fully aligned multi-level moving averages and only look at moving average crossover when market is in the extreme trend - either bullish...
This is an attempt to develop alternative visualisation of financial charts. This script also makes use of new pine feature types which represents User Defined Object Types. You can refer to below documentation to understand more about this feature:
www.tradingview.com
www.tradingview.com
🎲 Structure of new chart components
🎯Instead of candles/bars,...
![ETHUSDT: Band-Zigzag - TrendFollower Strategy [Trendoscope]](https://s3.tradingview.com/9/9FsHYtrq_mid.png "Band-Zigzag - TrendFollower Strategy [Trendoscope]")
![ETHUSDT: Wolfe Strategy [Trendoscope]](https://s3.tradingview.com/e/EGvQ2nLb_mid.png "Wolfe Strategy [Trendoscope]")
![BTCUSDT: Channel Based Zigzag [HeWhoMustNotBeNamed]](https://s3.tradingview.com/q/QWj7mtEF_mid.png "Channel Based Zigzag [HeWhoMustNotBeNamed]")
![BTCUSDT: Next Pivot Projection [Trendoscope]](https://s3.tradingview.com/d/dkSaWOLA_mid.png "Next Pivot Projection [Trendoscope]")
![APT: Auto TrendLines [HeWhoMustNotBeNamed]](https://s3.tradingview.com/j/JZZObGme_mid.png "Auto TrendLines [HeWhoMustNotBeNamed]")
![BTCUSDT: Wolfe Scanner (Multi - zigzag) [HeWhoMustNotBeNamed]](https://s3.tradingview.com/f/fVPGXfB3_mid.png "Wolfe Scanner (Multi - zigzag) [HeWhoMustNotBeNamed]")
![BTCUSDT: Extreme Trend Reversal Points [HeWhoMustNotBeNamed]](https://s3.tradingview.com/e/eBB5mW6b_mid.png "Extreme Trend Reversal Points [HeWhoMustNotBeNamed]")
