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November 24, 2023- USDCAD SELL TradeRR: 1:6.6 Daily Structure is Bearish because of the 1D( supply zone 1.38880) , upon checking lower timeframe i saw a clear manipulation of highs and BOS to the downside starting from London to N.Y session last nov 23, so i set a pending order in my mt5 to anticipate the sell trade. After waiting for several hours, the trade was confirmed because of validity (check charts for full detail and clear annotation). from Daily---> down to 4H----> to 1H structure then set pending order using POI of 15 min TF. A clear wyckoff distribution takes place here. another great week :)
Short
by glyrad
4
Bitcoin 4H RSI OVERBOUGHT BEARISH DIVERGENCEBitcoin Price Analysis: As of the latest available data, Bitcoin (BTC) has reached a local high at $35,280. This level has acted as a significant resistance point in the recent price history. If Bitcoin is unable to break above this resistance, it could potentially signify a short-term top. This is an important level to watch as it may signal a reversal or consolidation in the price movement. 4-Hour RSI Overbought Bearish Divergence: The 4-hour RSI is a technical indicator that measures the momentum of the price. An RSI value above 70 is often considered overbought, indicating that the asset might be due for a pullback or correction. However, it's important to note that overbought conditions can persist in strong bullish trends. The bearish divergence occurs when the price makes a higher high, while the RSI makes a lower high. This can be a sign that the current uptrend is losing momentum, and a reversal might be on the horizon. Given the combination of the price reaching a significant resistance level and the 4-hour RSI showing signs of overbought bearish divergence, traders should exercise caution and consider potential short-term downside risk. This does not necessarily mean that a major trend reversal is imminent, but it could indicate that a pullback or consolidation phase may be in store.
by sailortrades
1st Pine Script Lesson: Coding an Indicator - Bollinger Band Welcome to this lesson on Trading View, where we will be learning how to create a Bollinger Band indicator using Pine Script. Bollinger Bands are a popular tool that helps measure an asset's volatility and identify potential trends in price movement. Essentially, the indicator consists of three lines: a middle line that's a simple moving average (SMA), and an upper and lower band that are two standard deviations away from the SMA. The upper band represents the overbought level, meaning the price of the asset is considered high and may be due for a correction. The lower band represents the oversold level, meaning the price is considered low and may be due for a rebound. Pine Script is a programming language specifically used for creating custom indicators and strategies on Trading View. It's a powerful tool that allows traders to customize their technical analysis to fit their special trading needs and gain deeper insights into the markets.. In this lesson, we'll be taking a hands-on approach to learning. We'll walk through each step of creating our own Bollinger Band indicator using Pine Script, with the goal of helping you gain confidence in your ability to customize and create indicators that meet your unique trading needs. So, grab a cup of coffee and let's get started! Step 1: Set up a new chart Let‘s set up a new clean chart to work with for this example. You will find the menu to manage your layouts on the top right of the TradingView screen. a) add a new layout b) rename it to „Mizar Example“ c) select BTCUSDT from Binance d) set the time frame to 1 hour e) clean the screen (closing the Volume indicator) f) save it Step 2: Coding an indicator Let‘s code our new indicator („Mizar-Killer-Long-Approach“)and make the possible entry moments visible on the chart. You will find the Pine Editor on the bottom left of the TradingView screen. a) open the Pine Editor b) use „Open“ in the Pine Editor menu bar c) use the item: create a new indicator d) let‘s use full screen for a better overview use the three dots on the right end of the Pine Editor menu bar and open the script in a separate new browser tab e) rename it to “Mikilap“ by clicking on the current name f) save it Step 3: Coding an indicator Let‘s start coding Our target: 1. create an own new indicator: Mikilap, which bases in general on RSI and Bollinger Band 2. define the parameter for Mikilap, to select the long entries 3. show the long entries on the chart by - putting a label below the bar - change the background color of the timeframe for the bar on the chart Initiation/Generals • Indicator initiation //Indicator script initiation indicator(title = "Mizar-Killer-Long-Approach", shorttitle = "Mikilap", overlay = true, max_labels_count = 300) indicator = Pine keyword for an indicator script title = Long form of the name short title = Short form of the name as shown on the chart overlay = true: output like labels, boxes, … are shown on the chart false: output like plots, … are shown in a separate pane • General variables and input // Coin Pair with PREFIX // Bitcoin / USDT on Binance as an example / standard value on an 60 minutes = 1-hour timeframe string symbol_full = input.symbol(defval = "BINANCE:BTCUSDT", title = "Select Pair:", group = "General") string time_frame = input.string(defval = "60", title = "Timeframe:", tooltip = "Value in minutes, so 1 hour = 60", group = "General") Using the input type of a variable allows you to change this setting in the setup on the chart without changing the Pine Script code. Framework Code on Main Level • Framework code on the main level around the indicator calculation function // Defintion of a Pine Script individual function to handle the Request and avoid Repainting Errors Function_Mikilap(simple string coinpair, simple string tf_to_use) => int function_result = 0 // placeholder for indicator calculations function_result // Calling the Milky Way function to start the calculation int indi_value = Function_Mikilap(symbol_full, time_frame) Output on the chart - Part 1 // Output on the chart // Part 1 - plotting a Bollinger Band for the active CoinPair on the chart int length = input.int(defval = 21, title = "BB Length:", group = "Bollinger Band Setting") src = input(defval = close, title="BB Source", group = "Bollinger Band Setting") float mult = input.float(defval = 2.0, title="BB Standard-Deviation", group = "Bollinger Band Setting") upper_band = ta.sma(src, length) + (mult * ta.stdev(src, length)) lower_band = ta.sma(src, length) - (mult * ta.stdev(src, length)) upper = plot(upper_band, "BB Upper", color=#faffaf) lower = plot(lower_band, "BB Lower", color=#faffaf) fill(upper, lower, title = "BB Background", color=color.rgb(245, 245, 80, 80)) Done for today! • Let‘s save our current script and take a look if we see our Bollinger Band plotted on the chart. • Step 1: Save (top right) • Step 2: check in the compiling section, that there are no errors (separate pane below the code) • Step 3: go to the Mizar Example chart and add an Indicator How does it look now? You will see the Bollinger Band as a yellow area around the candles. By pressing the „Settings“ button behind the name of our indicator, the menu for Mikilap will open and you can adjust all the settings we have done with input type variables. Congrats if you‘ve made it until here! Get prepared for the next lesson, where we will continue with the indicator/entry logic.
Education
by Mizar_trading
13
AMZN Short Position- Price below the 200 MA, confirming the general downtrend. - Possible formation of descending triangle. - Demand for the asset is weakening (see volume, RSI and OBV indicators). When the price cuts below the 50 MA, the RSI is well below 50% and the OBV is red and well below the mid level, enter short. I prefer to enter my positions with confirmations of indicators, rather formations of patterns. WARNING: THIS IS NOT A INVESTMENT ADVICE. I'M JUST POSTING MY IDEAS AND IT IS FOR EXCHANGE OPINIONS.
NASDAQ:AMZNShort
by mariohidalgo
📊 Best Beginner Technical IndicatorsTechnical indicators are mathematical calculations based on an asset's price and/or volume that are used to analyze market trends and identify potential trading opportunities. 📍Trend indicators: These indicators are used to identify the direction of the market's trend over a given time period. Some popular trend indicators include moving averages, trendlines, and the Average Directional Index (ADX). 📍Relative strength indicators: These indicators compare the strength of a security's price action to the strength of a market index or another security. They are often used to identify potential buying or selling opportunities based on whether a security is overbought or oversold. Examples of relative strength indicators include the Relative Strength Index (RSI) and the Stochastic oscillator. 📍Momentum indicators: These indicators measure the rate of change in a security's price over a given time period. They can be used to identify potential trend reversals or confirm the strength of a current trend. Examples of momentum indicators include the Moving Average Convergence Divergence (MACD) and the Rate of Change (ROC). 📍Volume indicators: These indicators measure the trading volume of a security over a given time period. They can be used to confirm the strength of a trend or identify potential trend reversals. Examples of volume indicators include the Chaikin Oscillator and On-Balance Volume (OBV). 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
Perfect BBands Strateg. w/ Indic. SetupThis one is for anybody looking to try a new consistently solid strategy with multiple intuitive indicators setup that is not automated - yet. But, since the strategy part of this setup relies mostly on a simple but effective BBands strategy (I've found best results with 15m), it shouldn't be that hard to get automation setup. As it is now, the indicators included in this setup work perfectly together to give even beginner traders a rather good idea of where the trend is going and when to enter/exit their trades. This is a great setup for those using a free TV account since it combines certain indicators together by making use of the Pine Editor. So technically, only 3 indicators/strategies are used. In this case, 2 indicators and 1 strategy. All features of the indicators combined in terms of being able to adjust settings for each can still be fine tuned and have not been negatively impacted by the merging of multiple indicators. If you like this setup or have any suggestions to improve it, please let me know and if you consider testing this out with automation - send me a private message and let's discuss it.
EEducation
by Y2K_B