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Week in Review: Hidden GemHonorable Mentions Some very nice work has been done this week again by the Pine community. Shout out to Covax for publishing an attractive "Bitfinex Sentiment Index", beautifully rendering longs and shorts with some creative code; mortdiggidy's "Fisher Transform MTF" includes a unique function for the MTF Fisher, which, if I'm reading it right, solves the upper timeframe repainting that's oft associated with studies; and "Relative Derivative" by byteboi is a simple modification of the RoC that's comparable across assets and smoothed with an SMA. Dr. Do-a-lot A scripter that some, but not enough, users of TradingView will be familiar with is RafaelZioni. He's been a user for ten months and in that time he's amassed a huge library. RafaelZioni's strengths can be seen in the details of his work and as such his broader body of work may go underappreciated, but it's worth venturing deep into some of his work if you want to learn tricks-of-the-trade. His most recent work, and the script that will be highlighted this week, is "zigzag%". Zig-Zags in the Bag A very famous and useful scripter by the name of RicardoSantos has published a slew of scripts for realising zig-zags on the chart, so what make this one special? Well, for a start (and as far as I can tell), the zig-zag paints in real-time and with no lag. It can also use upper timeframe data with (as per description) no repaint. But that's not where the value lies in this script. A problem with Pine is that we can't realise some strategy functions in studies. TradingView doesn't accommodate for this and we need to think out of the box in order to achieve fidelity. So if you look carefully in this script you'll see that RafaelZioni has done just that. We can set the backtest date, set the take-profit levels, stop-loss levels and more. For anyone who's trying to turn their strategies into studies so that they can get alerts for each action, look here for some great insight. The script is actually an implementation of a trading strategy too. Here's an example of some results you can get. What Else is in the Bag? It's a jungle out there, but there's treasure deep in the dark. I advise everyone to get down and dirty with RafaelZioni's scripts. There's a very RicardoSantos-feel from his ideas and I expect that they're only going to get more creative in the future. His "Bollinger ratio" was included in the honorable mentions list last week and is a creative way of merging Bollinger Bands with the MACD. The eloquently named "net volume of positive and negative volume buy and sell alert" is also a fantastic way to view volume, and it comes with buy and sell alerts. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Honorable Mentions RafaelZioni: www.tradingview.com Covax: www.tradingview.com mortdiggidy: www.tradingview.com byteboi: www.tradingview.com
FX_IDC:XAUUSDEducation
by chrysopoetics
5
Week in Review: New Kid on the BlockHonorable Mentions This week we've seen a flurry of new open-source scripts hit TradingView, empowering it's users with trading ideas and programming techniques. "By Traders For Traders" by Dunhua-Yao , a potent modification of JustUncleL's "Price Action Candles", uses tighter criteria for 'Hammers' and 'Shooting Stars'; "Blau Divergence RSI", by blindfreddy , gifts us with William Blau's RSI; Quansium's "Quansium Source Layout" suggests ways to use external sources with TradingView; and RafaelZioni's "Bollinger ratio" brings together the MACD and Bollinger Bands in a unique way. There Goes the Neighborhood But there was one coder in particular that really caught my attention, introducing new, interesting, accessible, exotic and useful concepts. In the last week he's published 8 scripts, with his most recent strategy garnering a seemingly-outlandish return of 6000%+, although he has been a member for seven months. So the shining light for me this week, a big fan of Ehler's (who isn't?), has to be dasanc: www.tradingview.com Magnum Opus Currere The script that encapsulates his talent (for me) is his most recent strategy, "Adaptive Zero Lag EMA v2": This piece of work uses Ehler's ZLEMA and the two methods for Instantaneous Frequency Measurement (IFM) that dasanc's published in the past week. You can also adjust your risk limit, change TP/SL levels and determine your gain limit from within the control panel. Not only that, but it's presented in a clean and understandable manner, allowing beginners and professionals alike to pick up and immediately get started with the algorithms. Cherry on Top... So what makes this script so special? Well, the two IFM techniques: (One) (Two) In what seems to be his typical fashion, he's provided excellent descriptions for how these should be used. In short, if you're using an indicator that uses a lookback period (RSI, EMA etc), instead of fiddling with arbitrary numbers you just use the output of either of these techniques as the source for determining the lookback. Realising this concept has resulted in the entire Pine community being gifted with something they might not even know they were looking for. ...And Some Cream Low Lag Exponential Moving Average: Cosine, In-Phase and Quadrature IFM: Moving Forward With a young account and a recent burst of activity, it's safe to assume that we'll be seeing more of dasanc. Hopefully his singular approach to signal processing (as far as the current TradingView library is concerned) will be emulated by others. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Honorable Mentions
NASDAQ:INTCEducation
by chrysopoetics
2