RSI K-Means Clustering [UAlgo]The "RSI K-Means Clustering " indicator is a technical analysis tool that combines the Relative Strength Index (RSI) with K-means clustering techniques. This approach aims to provide more nuanced insights into market conditions by categorizing RSI values into overbought, neutral, and oversold clusters.
The indicator adjusts these clusters dynamically based on historical RSI data, allowing for more adaptive and responsive thresholds compared to traditional fixed levels. By leveraging K-means clustering, the indicator identifies patterns in RSI behavior, which can help traders make more informed decisions regarding market trends and potential reversals.
🔶 Key Features
K-means Clustering: The indicator employs K-means clustering, an unsupervised machine learning technique, to dynamically determine overbought, neutral, and oversold levels based on historical RSI data.
User-Defined Inputs: You can customize various aspects of the indicator's behavior, including:
RSI Source: Select the data source used for RSI calculation (e.g., closing price).
RSI Length: Define the period length for RSI calculation.
Training Data Size: Specify the number of historical RSI values used for K-means clustering.
Number of K-means Iterations: Set the number of iterations performed by the K-means algorithm to refine cluster centers.
Overbought/Neutral/Oversold Levels: You can define initial values for these levels, which will be further optimized through K-means clustering.
Alerts: The indicator can generate alerts for various events, including:
Trend Crossovers: Alerts for when the RSI crosses above/below the neutral zone, signaling potential trend changes.
Overbought/Oversold: Alerts when the RSI reaches the dynamically determined overbought or oversold thresholds.
Reversals: Alerts for potential trend reversals based on RSI crossing above/below the calculated overbought/oversold levels.
RSI Classification: Alerts based on the current RSI classification (ranging, uptrend, downtrend).
🔶 Interpreting Indicator
Adjusted RSI Value: The primary plot represents the adjusted RSI value, calculated based on the relative position of the current RSI compared to dynamically adjusted overbought and oversold levels. This value provides an intuitive measure of the market's momentum. The final overbought, neutral, and oversold levels are determined by K-means clustering and are displayed as horizontal lines. These levels serve as dynamic support and resistance points, indicating potential reversal zones.
Classification Symbols : The "RSI K-Means Clustering " indicator uses specific symbols to classify the current market condition based on the position of the RSI value relative to dynamically determined clusters. These symbols provide a quick visual reference to help traders understand the prevailing market sentiment. Here's a detailed explanation of each classification symbol:
Ranging Classification ("R")
This symbol appears when the RSI value is closest to the neutral threshold compared to the overbought or oversold thresholds. It indicates a ranging market, where the price is moving sideways without a clear trend direction. In this state, neither buyers nor sellers are in control, suggesting a period of consolidation or indecision. This is often seen as a time to wait for a breakout or reversal signal before taking a position.
Up-Trend Classification ("↑")
The up-trend symbol, represented by an upward arrow, is displayed when the RSI value is closer to the overbought threshold than to the neutral or oversold thresholds. This classification suggests that the market is in a bullish phase, with buying pressure outweighing selling pressure. Traders may consider this as a signal to enter or hold long positions, as the price is likely to continue rising until the market reaches an overbought condition.
Down-Trend Classification ("↓")
The down-trend symbol, depicted by a downward arrow, appears when the RSI value is nearest to the oversold threshold. This indicates a bearish market condition, where selling pressure dominates. The market is likely experiencing a downward movement, and traders might view this as an opportunity to enter or hold short positions. This symbol serves as a warning of potential further declines, especially if the RSI continues to move toward the oversold level.
Bullish Reversal ("▲")
This signal occurs when the RSI value crosses above the oversold threshold. It indicates a potential shift from a downtrend to an uptrend, suggesting that the market may start to move higher. Traders might use this signal as an opportunity to enter long positions.
Bearish Reversal ("▼")
This signal appears when the RSI value crosses below the overbought threshold. It suggests a possible transition from an uptrend to a downtrend, indicating that the market may begin to decline. This signal can alert traders to consider entering short positions or taking profits on long positions.
These classification symbols are plotted near the adjusted RSI line, with their positions adjusted based on the standard deviation and a distance multiplier. This placement helps in visualizing the classification's strength and ensuring clarity in the indicator's presentation. By monitoring these symbols, traders can quickly assess the market's state and make more informed trading decisions.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Uptrend
Bullish Wave StructureThis indicator visualizes bullish waves and the uptrend structure. It highlights the wave patterns, breakout levels, and swing highs and lows, distinguishing major and minor swings. The script also incorporates labels to denote trend and wave numbers, enhancing clarity in trend and wave identification. The waves plotted on the chart aid in chart study, trend analysis, and decision-making. Drawing objects on the chart are customizable.
## Fundamental Trend Assumptions
A trend starts when there is a break above a major swing high. There is then a first wave.
Subsequent waves are validated when there is a break above the high of the preceding wave and another major swing high is detected.
The trend ends when the price trades below the swing low of the latest wave.
## Wave drawing mechanism
The drawing of a wave occurs when:
There is a break above a major swing high (or the high of a wave) and another major swing high is detected.
There is a break above a major swing high (or the high of a wave) and the price collapses below the lowest point between the highest high and the high of the previous wave. The script treats this false break high as a legitimate bullish wave, even if no major swing high has been detected. The trend ends because the low of the current wave has been breached. This is a false break high that falls back within the range of the preceding wave.
There is a break above a major swing high (or the high of a wave) and the price collapses below the low of the preceding wave. The script treats this false break high as a legitimate bullish wave, even if no major swing high has been detected. The trend ends because the low of the preceding wave has been breached. This is a false break high followed by a sharp sell-off.
In short, the script draws the wave if there is a break above a major swing high (or the high of a wave) and another swing high is detected (or there is a break below the low of a wave).
## Remarks
While lower timeframes could benefit from this indicator, it shows clearer wave and trend structures in higher timeframes, starting from the 1H chart.
This indicator does not provide price projections. The drawing occurs after the price patterns have been unveiled. In other words, it draws waves and performs labeling in hindsight. However, users can fully benefit from the indicator for trend study and various technical analyses to support trading decisions, as explained in the description above.
## Acknowledgement
The script uses user-defined functions to look back and find indexes of the highest and lowest values when no swings have been found (i.e., one-bar false break high and collapse). The detection of regular minor and major swings has been accomplished by the built-in functions:
ta.pivothigh() [Pine Script Language Reference Manual — TradingView (www.tradingview.com)
ta.pivotlow() [Pine Script Language Reference Manual — TradingView (www.tradingview.com)
TrendPivotsLibrary "TrendPivots"
This library provides functions to search for bullish and bearish divergences between pivots and indicators. Functions search for higher highs and lower lows, automating lines, labels and signals for technical analysis and strategies.
method maxBeforeLast(id)
Method function to get the maximum price before the last, stored in an array pivotPoint.
Namespace types: pivotPoint
Parameters:
id (pivotPoint ) : (array pivotPoint) The pivotPoint array to inspect.
Returns: pivotPoint
method minBeforeLast(id)
Method function to get the minimum price before the last, stored in an array pivotPoint.
Namespace types: pivotPoint
Parameters:
id (pivotPoint ) : (array pivotPoint) The pivotPoint array to inspect.
Returns: pivotPoint
method pivotLine(id, a, b, color)
Sets the coordinates of a given line using two pivotPoint variables.
Namespace types: series line
Parameters:
id (line) : (line) Existing line
a (pivotPoint) : (pivotPoint) First pivotPoint.
b (pivotPoint) : (pivotPoint) Second pivotPoint.
color (color) : (color) The desired color. Default is red.
Returns: void
bearishDivergence(pivotArray)
Look for bearish divergence in a pivotPoint array cointaining pivot highs.
Parameters:
pivotArray (pivotPoint ) : (array pivotPoint) The pivotPoint array to inspect.
Returns: bool True if bearish divergence was found.
bullishDivergence(pivotArray)
Look for bullish divergence in a pivotPoint array cointaining pivot lows.
Parameters:
pivotArray (pivotPoint ) : (array pivotPoint) The pivotPoint array to inspect.
Returns: bool True if bullish divergence was found.
uptrendPivot(leftBars, rightBars, indicator, reset, plotLabel, plotLine)
Detects higher highs, higher lows and bearish divergence in an uptrend. Creates a line when bearish divergence is found, and labels.
Parameters:
leftBars (int) : (int)
rightBars (int) : (int)
indicator (float) : (float) RSI, MACD or other value.
reset (bool) : (bool) A bool variable to reinitiates the pivot computation, such as time changes, crossovers, or another.
plotLabel (bool) : (bool) If true (default), plots labels to higher highs and for each pivot low. Default = true.
plotLine (bool) : (bool) If true (default), plots a line linking the lower lows with divergence. Default = true.
Returns:
downtrendPivot(leftBars, rightBars, indicator, reset, plotLabel, plotLine)
Detects lower lows, lower highs, and bullish divergence in a downtrend. Creates a line when bullish divergence is found, and labels.
Parameters:
leftBars (int) : (int)
rightBars (int) : (int)
indicator (float) : (float) RSI, MACD or other value.
reset (bool) : (bool) A bool variable to reinitiates the pivot computation, such as time changes, crossovers, or another.
plotLabel (bool) : (bool) If true (default), plots labels to lower lows, and for each pivot low.
plotLine (bool) : (bool) If true (default), plots a line linking the lower lows with divergence. Default = true.
Returns:
pivotPoint
The coordinates of a pivot point and corresponding indicator value.
Fields:
x (series int) : (int) Time.
y (series float) : (float) Price.
indicator (series float) : (float) Indicator value.
DOW Theory Price Action Multi-Time FrameThis indicator gives a visual representation of Dow Theory Price action based trend analysis and provides trader a table with 4 different timeframe to align with the trend.
It will help traders identify if it is an ongoing Impulse Wave or a Corrective Wave.
3 rules for Bullish Price Action setup (Uptrend or continuation of existing UpTrend): Denoted by 'U' below the candlestic
HH - Higher High
HL - Higher Low
CAH - Close above prior High
3 rules for Bearish Price Action setup (Downtrend or continuation of existing DownTrend): Denoted by 'D' below the candlestic
LH - Lower High
HL - LowerLow
CAH - Close below prior Low
Exception - Outside Candle: Denoted by 'OC' above the candlestic
Outside reversal is a two-day price pattern that shows when a candle or bar on a candlestick or bar chart falls “outside” of the previous day's candle or bar.
The table posistion can be set be user from the input settings as per his screen setting / resolution.
The trailing line can is also customizable from inputs, recomended value is 3-4.
Ideation Credits: Mr. Vineet Jain
Adaptive Fisherized Trend Intensity Index Introduction
Here, I modified the script "Trend Intensity Index" (TII) of @everyget.
TTI was developed by M.H. Pee, who also published other trend analysis indicators like the Trend Trigger/Continuation Factor
It helps to determine how strong the current trend is.
The stronger the trend, the higher the chance the price may continue moving in the current direction.
Features
Adaptive mode (based on Ehlers dominant cycle determination) => automatically determines the length
Inverse Fisher Transform => gives sharper signals
Customizable MA Types => discover the impact of different ma bases
Hann Window and NET smoothing => state-of-the-art smoothing
Trend Visualization => shows you the up/down/side trend
Usage
This indicator here offers a perfect trend filtering system. It is capable of up/down/side trend detection.
There are a lot of trend indicators which don't respect sidetrends, which makes this indicator pretty useful.
A lot of traders use trend-following trading systems.
A trader will usually make his/her entry in the market during a strong trend and ride it, until the TII provides an indication of a reversal.
For mean-revertive trading systems, you could use TII to just trade in side trend.
A lot of mean-revertive signal emitters like Bollinger Bands or RSI work most of the times better in side trend.
Furthermore, every timeframe could be used, but higher timeframes have more impact because trends are stronger there.
Signals
Green zone (Top) => Etablished bullish trend
"Peachy" Zone (Middle) => Sidetrend/flat market
Red Zone (Bottom) => Etablished bearish trend
Enjoy guys!
(Let me know your opinions!)
--
Credits to:
@blackcat1402
@DasanC
@cheatcountry
@everget
Range Detector Indicator [Misu]█ This indicator shows an upper and lower band based on Highs and Lows.
Depending on this, the indicator interprets a ranging market, an uptrend or a downtrend.
█ Usages:
The purpose of this indicator is to identify when the price is ranging.
It's also used to identify changes in trends, breaking points, and trend reversals.
But it can also be used to show resistance or support levels.
█ Features:
> Price Action Change Alerts
> Price Action Change Labels
> Color Bars
> Show Bands
█ Parameters:
Deviation: A parameter used to calculate pivots.
Depth: A parameter used to calculate pivots.
Activate Range Detection: Check the box to activate range detection.
Band% Offset: A factor that is used to vary the bands offset.
DCA After Downtrend v2 (by BHD_Trade_Bot)The purpose of the strategy is to identify the end of a short-term downtrend . So that you can easily to DCA certain amount of money for each month.
ENTRY
The buy orders are placed on a monthly basis for assets at the end of a short-term downtrend:
- Each month condition: In 1-hour time frame, each month has 24 * 30 candles
- The end of short-term downtrend condition: use MACD for less delay
CLOSE
The sell orders are placed when:
- Is last bar
The strategy use $1000 and trading fee is 1.1% for each order.
Pro tip: The 1-hour time frame has the best results on average:
- Total spent: $1000 x 33 = $33,000
- Total profit: $65,578
DCA After Downtrend (by BHD_Trade_Bot)The purpose of the strategy is to identify the end of a short-term downtrend . So that you can easily to DCA certain amount of money for each month.
ENTRY
The buy orders are placed on a monthly basis for assets at the end of a short-term downtrend:
- Each month condition: In 1-hour time frame, each month has 240 candles
- The end of short-term downtrend condition: use MACD for less delay
CLOSE
The sell orders are placed when:
- Is last bar
The strategy use $1000 and trading fee is 0.1% for each order.
Pro tip: The 1-hour time frame for TSLA has the best results on average:
- Total spent: $1000 x 85 = $85,000
- Total profit: $790,556
Take Profit On Trend v2 (by BHD_Trade_Bot)The purpose of strategy is to detect long-term uptrend and short-term downtrend so that you can easy to take profit.
The strategy also using BHD unit to detect how big you win and lose, so that you can use this strategy for all coins without worry about it have different percentage of price change.
ENTRY
The buy order is placed on assets that have long-term uptrend and short-term downtrend:
- Long-term uptrend condition: ema200 is going up
- Short-term downtrend condition: 2 last candles are down price (use candlestick for less delay)
CLOSE
The sell order is placed when take profit or stop loss:
- Take profit: price increase 2 BHD unit
- Stop loss: price decrease 3 BHD unit
The strategy use $1000 for initial capital and trading fee is 0.1% for each order.
Pro tip: The 1-hour time frame for ETH/USDT has the best results on average.
dize Multi-Timeframe TrendHi Trader,
the "Multi-Timeframe Trend" indicator is one part of our holistic approach to identifying trading setups. It is one of many indcators of our dize indicator package and should always be used in conjunction with the other dize indicators.
💡 What is the MTF Trend indicator?
Our "Multi-Timeframe Trend" indicator allows to view the trend on different timeframes. The multi-timeframe approach helps us to filter out noise from the market and to find the overarching trend. In addition to the trend, the indicator also shows the percentage change for each up and down movement, which is an expression of the trend strength. We use a proprietary approach to identifying turning points, which will be used for trend recognition.
Furthermore, we connect the most recent dominating highs and lows to create two trendlines at the most right side of the chart.
💡 How to use it?
Using the "Multi-Timeframe Trend" indicator is pretty straight forward. After applying it to your chart you will have to adjust the "Resolution" parameter in the settings. Please be aware, that the selected resolution should always be higher than the displayed chart timeframe. Once that is done, the indicator will show the up- and downmovements of the higher timeframe on your chart.
To fine-tune the trendlines, you should first activate the "Show Trendlines" checkbox. After that we will use the "Trendlines Depth" parameter to detect the most optimal trendlines out of the latest "n" up and down turning points.
Let's have a look:
In the above example you can see a daily Bitcoin chart with a weekly MTF Trend configuration. Initially it shows an uptrend. You will notice how the up- and downswing percentages change over time and move into favor of the bears. The red numbers (downmovement) increase, while the green number (upmovement) decrease. It's easy to identify the sentiment shift. Lastly, the indicator shows two trendlines, which both indicate the current direction of the market.
🔓 To gain access to this indicator, please read the signature field.
dize Market SentimentHi Trader,
the "Market Sentiment" indicator is one part of our holistic approach to identifying trading setups. It is one of many indcators of our dize indicator package and should always be used in conjunction with the other dize indicators.
💡 What is the Market Sentiment indicator?
The Market Sentiment indicator is a trend-following indicator. It visually divides our chart into three phases that are familiar to every trader - uptrend, downtrend and sideways movement. The visualization allows us to determine very quickly which phase is currently active. The indicator generates buy and sell signals for trend changes, which can be precisely matched to the asset using various filters.
💡 How to use it?
The "Lookback"-parameter indicates how many candlesticks are considered for trend development. The "Sensitivity" parameter indicates how much noise we allow in the trend calculation.
In addition to changing the technical details, the indicator also includes input settings for the visual appearance. Colors for the three sentiment phases, as well as colors for the buy and sell labels can be set, making it easy to customize the indicator to suit your personal preferences.
Let's have a look:
Looking at the above example, we can clearly see how the market sentiment indicator could be beneficial to our trading. It created a "Buy" signal on the 10th October 2020 at 11297.0 USD, moving all the way up to 55705.5 USD on 19th April 2021, where it generated a "Sell" and then dropping back down to 35392.0 USD on the 25th July 2021 to create another "Buy".
Of course, the indicator should not be used as a standalone buy and sell signal generator. It has to be used wisely in conjunction with other indicators and potential risk management tools. But this example shows how the indicator can bring value to your chart.
🔓 To gain access to this indicator, please read the signature field.
Moving Averages With Cross AlertsA simple way to add up to 5 moving averages with optional crossover/crossunder alerts.
Available options for Moving Average Type are:
SMA
EMA (default)
HMA
RMA
WMA
VWMA
VWAP
ALMA
By default, 5 moving averages are enabled and set to the following:
MA1 set to 5
MA2 set to 13
MA3 set to 50
MA4 set to 200
MA5 set to 800
Each moving average has the following options:
Enable/Disable
Source (default is close)
Length
Color
4-Way EMA Trend4 separate EMAs that are used to determine trend, colored appropriately to reflect the trend to make it easy to tell what the trend is. All 4 EMAs are not needed, you can turn each one on and off individually and the indicator will adjust itself accordingly. Having a single EMA will use the closing price to determine the trend. There are 2 different types of trend detection; EMA Flip and EMA Confluence. EMA Flip is dependent on all active EMAs rising or falling in the correct hierarchical order. The EMA Confluence option is if all EMAs are moving in the same direction. I've found that this second option, EMA Confluence, is more accurate in getting in early before strong movements because the EMAs will more often move in the same direction before they "flip".
ADX and DI+ v4.5 OptimizedThis script plots VWMA(ADX) vs EMA(DI+) under pre-set time frame.
Feature:
The Main Strategy is to look for potential BUY opportunity (Intraday trading, Session trading, Swing) when EMA(DI+) colored blue, entering upward into Green zone where ADX counterpart (default colored: Yellow) is also present.
Formula plot is also helpful to understand upcoming downtrend signal when both blue and yellow lines try to make diverted bifurcation like pattern on graph.
Disclaimer - This is an indicator script and not final Buy and Sell advice.
* Originally developed by © BeikabuOyaji and further extended & optimized by Bharat @imbharat to serve above features
Up & Down Trend following trading strategy for BTC/USDT 3hThis strategy is based on multi time frame technical indicators such as;
1. RSI (10,50,100)
2. MFI (10,50,100)
3. RVI (10,50,100)
4. BOP (10,50,100)
5. Super Trend
6. SAR indicator
7. Higher highs and lower lows
8. SMA (9,500)
9. EMA (9,200)
After evaluating different parameters provided by those indicators, script is in a possition to determine optimul positions to enter in to market as well as exit from the market. In some cases stratergy will exit fully or partially depends on the situation. Other than that, this strategy is in a possition to calculate and specify the quantity you need to buy or sell depending on market situation. You can specify amount available for investment and how many times you are going to average (if downtrend). Parameters are optimised to BTC/USDT, 3h standerd candlestic chart.
goodluck
Up & Down Trend Trading Strategy - BNB/USDT 15minThis strategy will focus on up trend trading and down trend trading based on several indicators such as;
for up trend
1. SAR indicator
2. Super trend indicator
3. Simple moving average for the period of 100
down trend
1. RSI Indicator
2. Money flow index
3. Relative volatility index
4. Balance of powder
KINSKI Flexible Vortex IndicatorThe Vortex indicator is based on two trend lines that indicate an uptrend (VI+) or a downtrend (VI-) in the current market. This can be used to determine trend reversals or confirmations of current trends and directions. The number of periods is usually between 10 and 25. This indicator has 14 periods as its default value. You can adjust this value in the settings according to your needs.
A buy signal can be interpreted when VI+ is greater than VI-. Conversely, a sell signal exists when VI+ is smaller than VI-. Whenever a "crossing point" occurs, an imminent trend change can also be anticipated. If the differences from the highs and lows become larger and larger, a breakout is to be expected.
When using this indicator, please note that VI+ and VI crossings, especially during choppy price movements, can trigger false trading signals.
What distinguishes this Vortex indicator from others of this type?
Possibility to choose between different template templates that influence the display
Extensive setting options to emphasize upward and downward movements and cross points
The following settings are possible:
"Length": Adjustable period / default value = 14
"Template": "DISABLED", "Clear", "Informative" / Default value = DISABLED
"Line: Size": Thickness of the vortex lines / default value = 2
"Line: Style Type": Display variants (options: "Line", "Stepline") / default value = "Line".
"Line: Up/Down Movements": Up and down movements are highlighted in color / default value = AN
"Cross Points: On/Off": Cross points are displayed / default value = OFF
"Bands: On/Off": Vortex lines are connected as a band / default value = OFF
"Bands: Transparency": Strength of transparency / default value = 85
Color codes: The color codes are explained in the settings
Take Profit On Trend (by BHD_Trade_Bot)The purpose of strategy is to detect long-term uptrend and short-term downtrend so that you can easy to take profit.
The strategy also using BHD unit to detect how big you win and lose, so that you can use this strategy for all coins without worry about it have different percentage of price change.
ENTRY
The buy order is placed on assets that have long-term uptrend and short-term downtrend:
- Long-term uptrend condition: ema200 is going up (rsi200 greater than 51)
- Short-term downtrend condition: 2 last candles are down price (use candlestick for less delay)
CLOSE
The sell order is placed when take profit or stop loss:
- Take profit: price increase 1 BHD unit
- Stop loss: price decrease 2 BHD units
The strategy use $15 and trading fee is 0.1% for each order. So that, in the real-life, if you are using trade bot, it will need $1500 for trading 100 coins at the same time.
Pro tip : The 1-hour time frame for altcoin/USDT has the best results on average.
ICHIMOKU Crypto Swing StrategyThis is a crypto swing strategy designed for timeframes bigger than 1h.
The main components are
ICHOMOKU
KDJ
Average High
Average Low
Rules for entry
For long: we have the ichimoku crosses between tenkan and baselines, we have a rising kdj line and at the same time we have a increase in the average high
For short: we have the ichimoku crosses between tenkan and baselines, we have a falling kdj line and at the same time we have an increase in the average low
Rules for exit
We exit when we have inverse conditions than the initial ones used for entry.
Caution
This strategy does not use a risk management, so be careful with it !
If you have any questions let me know !
Up/Down Indicator - DurbtradeA simple but unique indicator to show ONLY whether there is an increase or a decrease in price compared to the previous value.
Also includes a customizable SMA or EMA based "Smoothing Length" variable,
allowing the indicator to show whether the SMA or the EMA of the price
is up or down compared to the previous value.
An offset option is also included if you need it.
Settings :
Personal thoughts :
I wanted to have an indicator that showed ONLY whether the price is UP or DOWN from the previous value.
My logic was that I could have a more accurate perception of general up or down trend direction
if I removed the AMOUNT of increase or decrease happening from moment to moment over time.
From there, I added the SMA/EMA "Smoothing Length" and "Smoothing Type" variables into the script.
By increasing the value of the smoothing length above 1,
the indicator act as a color-changing moving average, except without showing an actual value.
"Smooth Length" acts just like the length of any other moving average...
When the value of the "Smooth Length" is = 1, the indicator shows whether PRICE is up or down.
When the value of the "Smooth Length" is = 50, the indicator shows whether the MOVING AVERAGE with a length of 50 is up or down.
When the value of the "Smooth Type" is = 1, the indicator is SMA based.
When the value of the "Smooth Type" is = 2, the indicator is EMA based.
As you can see in the main chart above, or in the picture below, I show the indicator in 2 different ways...
The indicator on the top shows price up/down action,
and the indicator on the bottom shows the 50 SMA up/down action :
Other key points :
The indicator height can be smashed down as small as possible and still remain 100% functional...
which is very important when chart real-estate is limited.
Here is an example of my main layout setup, with the Up/Down indicator on the top left :
As you can see, it takes up very little space, but still remains fully functional.
In the example above, I have it overlayed on the left chart price panel,
with the price visibility turned off.
If it is overlayed on the price panel like so, and you want to see both the indicator and price,
simply turn the price visibility on to see both.
Since the indicator displays itself merely by changing the color of the background,
layer order has no effect, and the indicator is always drawn in the background.
The Up/Down indicator can also be used in conjunction with other candle types
that sometimes display candle color differently than standard candles, such as heikin-ashi candles.
Just take note that the colors of the indicator may not match the colors of the heikin-ashi candles.
Finally, I looked very hard to find an indicator like this on TradingView, and found absolutely nothing.
I know that it is a simple concept, but I'm honestly surprised I couldn't find anything like it.
I have been using it for awhile now, and I'm proud of the results...
therefore, I'd like to share it with the community, along with my previously published indicators,
in the hope that you find it useful!
Outro :
A) As with my previous indicators,
this one was written while keeping information, color, clarity, chart real-estate, and customization in mind.
B) It is optimized to be displayed on all display setups...
for use on your own personal television, laptop, or cellular phone screen...
and on all chart zoom levels and layout styles.
C) Please feel free to comment your thoughts, critiques, or suggestions. They are all very helpful!
D) Check out my previous pine script indicators if you like this one. They work really well together.
E) I hope that you find this script useful.
F) Enjoy!
// Durbtrade
Tipsy EMA Tipsy EMA
v0.2a
Coded by vaidab.
A simple strategy to buy dips in an uptrend.
How to use:
- buy on trend when price retraces to the orange "buy" line and compound orders
- sell when price reaches red line (stop loss) or at 💰 (take profit)
Note that you can reverse trade on the 💰 sign for a short scalp / day trade.
Uptrend: green/red background. Danger zone: orange bg. No go zone: no bg.
Potential buys (in a clear trend): 55, 100, 200 EMA touches and
fibo retracements to .382 and .618.
Potential stop loss: when price breaks the 200 EMA (marked by a red line).
Exit signs: opposite trend divergences (RSI).
Take profit: EMA 55 crossing down EMA 100.
Use it in confluence with market structure. E.g. If 200 EMA ligns up with
past market structure, if there are whole numbers or if there's a monthly level.
Tested BTCUSDT D, 4H
KINSKI ADXThis ADX indicator (Average Directional Index) tries to estimate the strength of a trend. The Average Directional Index is derived from the positive (+DI) and the negative directional indicator (-DI). The direction of movement is determined by comparing the highs and lows of the current and past periods.
As soon as the indicator determines a trend strength for upward or downward trend, a label is displayed. An upward trend is labelled "Bullish Trend". The downward trend bears the label "Bearish Trend".
The clouds in the background represent the movements of the Average Directional Index High/Low:
Color orange: neutral, uncertain in which direction it is going.
Color green: upward trend
Color red: downward trend
The line represents the average value of the ADX signal:
Color orange: neutral: still uncertain in which direction it is going
Color green / outgoing line: upward trend
Color green / descending line: weakening upward trend
Color red / exiting line: downward trend
Color red / descending line: weakening downward trend
The following configurable options are possible:
"ADX Smoothing
Directional Index Length
Level Range
Level Trend
{Gunzo} Trend Sniper (WMA with coefficient)Trend Sniper is a trend-following indicator that sticks closer to the trend than others moving averages as it is using an upgraded weighted moving average implementation.
OVERVIEW :
It is typical to use a moving average indicator (SMA, EMA, WMA or TMA) to identify the trend of an asset. Standard moving averages indicators smooth the price and doesn’t stick very closely to the actual price, showing potential lagging information.
CALCULATION :
In order to have a trendline that sticks to the price, we are going to use a weighted moving average as it puts more weight on recent candles and less on past candles. The weight is usually calculated using the distance from current candle to the other candles used in the calculation. We have the following formula for the standard calculation as implemented in TradingView :
WMA_standard = (Price1 * Weight1 + …… + PriceN * WeightN)) / (Weight1 + …… + WeightN)
This “Trend Sniper” indicator uses an additional coefficient to alter even more the weight of each candle.
WMA_with_coefficient = (Price1 * (Weight1 - Coefficient) + …… + PriceN * (WeightN - Coefficient)) / ((Weight1 - Coefficient) + …… + (WeightN - Coefficient))
SETTINGS :
MA source : Source used for moving average calculation (ex : “close”)
MA length : Length of the moving average. Higher values will give a smoother line, lower values will give a more reactive line.
Use extra smoothing : Enable/disable usage of a EMA to extra smooth the line curve. If activated the indicator may be lagging, but it will also avoid many false buy/sell signals.
MA extra smoothing length : Length of the moving average of the extra smoothing.
Change candle colors : Enable/disable painting the candles of the chart with the colors of the weighted moving average.
Display buy/sell signals : Display buy/sell signals (circles) when the moving average is changing direction
VISUALIZATIONS :
This indicator has 3 possible visualizations :
Moving Average line : the line represents the weighted moving average that is following the price of the asset, when the line goes up we are in a uptrend (green line) when the line goes down we are in a downtrend (red line).
Candle coloring : the color of the moving average line can be applied to the candles of the chart for better readability.
Signals : Buy/Sell signals can be displayed at the bottom of the chart
USAGE :
This indicator can help analyze the trend directional changes :
First of all, if the moving average line is under the price (or above the price), then we can assume that the uptrend is strong (or downtrend is strong).
If the current candle crosses the moving average line, it is the first sign that the trend is weakening and possibly starting to revert.
If the weighted moving average is changing direction, then the trend change is confirmed and the color of the line changes
