Trend Persistence Rate Indicator [CC]The Trend Persistence Rate Indicator was created by Richard Poster (Stocks and Commodities Feb 2021 pg 12) and this indicator is a good trend strength indicator similar to ADX. A good strategy with this indicator according to the author is to combine this with a moving average crossover strategy and a volatility indicator. Buy when the price crosses over the moving average and when the volatility and this indicator are over a selected minimum. I think 30-40 as a minimum for this indicator works well. Exit that position when this indicator peaks and starts to go down and it should be very profitable for you. I have included general buy and sell signals with this indicator as well.
Let me know if there are any other indicators you would like to see me publish!
Trends
The Bayesian Q OscillatorFirst of all the biggest thanks to @tista and @KivancOzbilgic for publishing their open source public indicators Bayesian BBSMA + nQQE Oscillator. And a mighty round of applause for @MarkBench for once again being my superhero pinescript guy that puts these awesome combination Ideas and ES stradegies in my head together. Now let me go ahead and explain what we have here.
I am gonna call it the Bayesian Q Oscillator I suppose. The goal of the script is to solve an issue both indicators on their own suffer from. QQE signals are not new and often the problem has always been false signals for them. They are good for scalping but the difference between a quality move and a small to nearly nonexistent move following a signal is not so clear. Kivanc made his normalized version to help reduce this problem by adding colors to his histogram type verision that would essentially represent if price was a trending move or in a ranging structure. As you can see I have kept this Idea but instead opted for lines as the oscillator. two yellow line (default color) is a ranging sideways area and when there is red or green it is trending up or down. I wanted to take this to the next level with combining the Bayesian probability oscillator that tista put together.
The Bayesian indicator is the opposite for its issue as it is a probability indicator that shows which candle or price movement is more likely to come next. Red rising means possibly down move soon and green means up soon. I will not go into the complex details of this indicator but will suggest others take a look at his and others to understand the idea behind them. The point I am driving at is that it show probabilities or likelyhood without the most effecient signal device to match it. This original was line form and now it is background filled colors.
The idea. is that you can potentially get some stronger and more accurate reversal signals with these two paired together. when you see a sell signal or cross with the towering or rising red... maybe it is a good jump potentially. The same for green. At the same time it is a double added filter effect from just having yellow represent it is ranging... but now if you get a buy signal (example) and have yellow lines (example) along wi5h a red rising or mountain color background... it not only is an indication of ranging, but also that there is potentially even a counter move coming based on the probabilities. Also if you get into a good trade and see dual yellow qqe crosses with no color represented by the bayesian background... it is possible it might only be noise.
I have found them to work decently in the 1 hour timframe. Let me know your experience.
I hope everyone takes a look at the originals to understand them. Full credit goes to those guys for this to be here. Let me know how it is working out for you.
Here are the original links.
bayesian
Normalized QQE
Monthly, Quaterly, Yearly SMA trendsIt highlights on the chart when the SMA20 crosses the SMA60 etc. for the Monthly, Quaterly, Yearly SMA trends.
Ehlers Trend Vigor NormalizedThanks to MasBart, I updated the earlier version to normalize signal and lead according to vigor and trigger. Vigor and trigger are limited to +-2. Now signal and lead are also in that range.
The code of interest is lines 39-43:
tmpdif = (BP - nz(BP ))/close
a = array.new_float(0)
for i = 0 to win-1
array.push(a, tmpdif )
den = array.max(a)
den is then used to normalize the BP values (bandpass filter).
SuperRange - evoA SuperTrend like indicator based on highest and lowest candle close from a few bars back. It looks almost the same as Donchian Channels but with a dominant trend direction inside (Black line).
Uptrend: Candle closed higher than highest close
Downtrend: Candle closed lower than lowest close
This works best on higher time frames since a daily close is more powerful than a 15 minute close.
A few examples how you could use this:
Use support & resistance
Apply a moving average
Buy and sell the break-out
All perfect world examples, this does not happen all the time off course.. Its just for the idea. There are many ways to trade this so feel free to share in the comments, good luck and follow the trend! :)
Separated Moving Average - evoHere are two moving averages, one based on positive candles and the other based on negative candles. If the current bar is positive, the negative MA will use its last known negative bar for the calculation. The default setting uses Heikin Ashi to smooth the candles with the trend, you can turn this off if you want in inputs.
Let me know if you find it useful :)
Automatic TrendlinesIntroduction
For a full free tutorial explaining this code in more detail, visit the backtest-rookies (.com) website.
This indicator will plot two trend lines at any given time. A resistance trend line and a support trend line. The resistance trend is shown with red circles and is created by joining swing highs together. The second is a support trend which is created by joining swing lows.
Since we need swings to make the trend, the trend line code contains code for the swing detection. You can play around with the swing detection to alter how frequently new trend lines are detected. Relying on swings also means that there will be some delay in trend detection depending on how you configure the swing detection. The higher you set rightbars, the more lag you will have before a trend is detected. However, at the same time the quality of the pivots found will increase. So it is a trade-off you need to come to terms with and decide what the best settings are for you.
Lines
A single trend line is made up of several components.
Pivot Points: Marked as blue or orange circles. There will be two pivots per trend.
Orange/Purple Lines: Connecting all pivot points. You will see these lines change direction slightly each time a new pivot is detected (new circles appear).
Green/Red Circle lines: Showing the trend line from the earliest moment a new trend is detected.
Blue Dashed lines: Joining the purple and green/red circle lines so the full trend line can be seen.
Note: The blue dashed lines use pine-scripts drawing functions. As such, there is a limit to how many of these can be placed on a chart. When the limit is reached, the oldest line will be removed so the newest can be drawn. This means that if you detect enough trends and scroll back in time, the blue dashed lines will disappear at some point!
Gann Trend OscillatorDeveloped by Robert Krausz, the Gann Trend Oscillator is a trend-following indicator used to determine the financial instruments long-term price direction.
Elder Impulse SystemQuickly Identify Trends with the Elder Impulse Indicator.
Pretty much the same as , but written from scratch to be simpler to use and the source code easier to read (no offense, LazyBear)
For more info, see stockcharts.com