Market Forecast with SL & TPThis script is an indicator for TradingView. It overlays on your chart to give you visual cues about when to enter or exit in trades.
2. Key Components:
ATR (Average True Range): This measures market volatility. Think of it like how much the price jumps around. The script uses this to help decide when the market might be too volatile or just right for trading.
Fibonacci Levels: These are specific price levels that traders believe the market will react to. They're calculated based on the highest high and lowest low over a period. Imagine these as 'magic' levels where the price might want to stop or bounce back.
SMA (Simple Moving Average): This is like a smoothed out version of price movement over time. It helps to see the general trend without the noise of daily price fluctuations.
Higher Timeframe (HTF) Analysis: This looks at the price trend on a bigger time frame (like daily charts) to see if it aligns with your shorter-term trading decisions.
3. How It Works:
Volatility Filter: The script first calculates the ATR to understand the market's volatility. You can adjust how sensitive this is with the "ATR Length" and "ATR Multiplier" inputs.
Fibonacci Levels Calculation: It figures out where these 'magic' Fibonacci levels are based on recent price action.
Trend Analysis: It checks the trend on both your current chart time frame and a higher time frame (HTF) to see if they're in agreement.
Enter/Exit Signals:
Enter/Exit: When the current price is above the SMA of both your chart and the HTF, and it's within a certain range (defined by ATR) of a Fibonacci level, the script suggests it might be a good time to buy. It places a green label saying "ENTER" below the price, draws a green line showing where the price might go up by 5% (this is your target profit), and a red line below for where you might want to stop loss if things go south.
Exit Signal: Conversely, if the price is below both SMAs and within the ATR range of a Fibonacci level, it suggests selling or exiting a position. It places a red "EXIT" label above the price, a red line predicting a 5% drop, and a stop loss line above the current price.
Visual Aids: The script also plots the SMA for reference and draws horizontal lines at Fibonacci levels to give you a visual guide of where these levels are.
4. Using the Script:
When you see the "ENTER" label, it's suggesting a potential buying opportunity based on all the conditions being favorable (trend, volatility, Fibonacci levels).
The "EXIT" label suggests selling or getting out of a trade.
The green and red lines give you a visual of where you might aim to take profit or set your stop loss, helping you manage your trade.
5. Why It's Useful:
This script combines several trading concepts (volatility, trend following, Fibonacci retracement) into one tool, making it easier for you to spot potential trading opportunities without having to analyze each component separately. It's like having a little trading assistant on your chart!
Remember, while this script can guide you, always use it alongside your own analysis, risk management, and understanding of the market. Happy trading!
Accurate
Accurate Bollinger Bands mcbw_ [True Volatility Distribution]The Bollinger Bands have become a very important technical tool for discretionary and algorithmic traders alike over the last decades. It was designed to give traders an edge on the markets by setting probabilistic values to different levels of volatility. However, some of the assumptions that go into its calculations make it unusable for traders who want to get a correct understanding of the volatility that the bands are trying to be used for. Let's go through what the Bollinger Bands are said to show, how their calculations work, the problems in the calculations, and how the current indicator I am presenting today fixes these.
--> If you just want to know how the settings work then skip straight to the end or click on the little (i) symbol next to the values in the indicator settings window when its on your chart <--
--------------------------- What Are Bollinger Bands ---------------------------
The Bollinger Bands were formed in the 1980's, a time when many retail traders interacted with their symbols via physically printed charts and computer memory for personal computer memory was measured in Kb (about a factor of 1 million smaller than today). Bollinger Bands are designed to help a trader or algorithm see the likelihood of price expanding outside of its typical range, the further the lines are from the current price implies the less often they will get hit. With a hands on understanding many strategies use these levels for designated levels of breakout trades or to assist in defining price ranges.
--------------------------- How Bollinger Bands Work ---------------------------
The calculations that go into Bollinger Bands are rather simple. There is a moving average that centers the indicator and an equidistant top band and bottom band are drawn at a fixed width away. The moving average is just a typical moving average (or common variant) that tracks the price action, while the distance to the top and bottom bands is a direct function of recent price volatility. The way that the distance to the bands is calculated is inspired by formulas from statistics. The standard deviation is taken from the candles that go into the moving average and then this is multiplied by a user defined value to set the bands position, I will call this value 'the multiple'. When discussing Bollinger Bands, that trading community at large normally discusses 'the multiple' as a multiplier of the standard deviation as it applies to a normal distribution (gaußian probability). On a normal distribution the number of standard deviations away (which trades directly use as 'the multiple') you are directly corresponds to how likely/unlikely something is to happen:
1 standard deviation equals 68.3%, meaning that the price should stay inside the 1 standard deviation 68.3% of the time and be outside of it 31.7% of the time;
2 standard deviation equals 95.5%, meaning that the price should stay inside the 2 standard deviation 95.5% of the time and be outside of it 4.5% of the time;
3 standard deviation equals 99.7%, meaning that the price should stay inside the 3 standard deviation 99.7% of the time and be outside of it 0.3% of the time.
Therefore when traders set 'the multiple' to 2, they interpret this as meaning that price will not reach there 95.5% of the time.
---------------- The Problem With The Math of Bollinger Bands ----------------
In and of themselves the Bollinger Bands are a great tool, but they have become misconstrued with some incorrect sense of statistical meaning, when they should really just be taken at face value without any further interpretation or implication.
In order to explain this it is going to get a bit technical so I will give a little math background and try to simplify things. First let's review some statistics topics (distributions, percentiles, standard deviations) and then with that understanding explore the incorrect logic of how Bollinger Bands have been interpreted/employed.
---------------- Quick Stats Review ----------------
.
(If you are comfortable with statistics feel free to skip ahead to the next section)
.
-------- I: Probability distributions --------
When you have a lot of data it is helpful to see how many times different results appear in your dataset. To visualize this people use "histograms", which just shows how many times each element appears in the dataset by stacking each of the same elements on top of each other to form a graph. You may be familiar with the bell curve (also called the "normal distribution", which we will be calling it by). The normal distribution histogram looks like a big hump around zero and then drops off super quickly the further you get from it. This shape (the bell curve) is very nice because it has a lot of very nifty mathematical properties and seems to show up in nature all the time. Since it pops up in so many places, society has developed many different shortcuts related to it that speed up all kinds of calculations, including the shortcut that 1 standard deviation = 68.3%, 2 standard deviations = 95.5%, and 3 standard deviations = 99.7% (these only apply to the normal distribution). Despite how handy the normal distribution is and all the shortcuts we have for it are, and how much it shows up in the natural world, there is nothing that forces your specific dataset to look like it. In fact, your data can actually have any possible shape. As we will explore later, economic and financial datasets *rarely* follow the normal distribution.
-------- II: Percentiles --------
After you have made the histogram of your dataset you have built the "probability distribution" of your own dataset that is specific to all the data you have collected. There is a whole complicated framework for how to accurately calculate percentiles but we will dramatically simplify it for our use. The 'percentile' in our case is just the number of data points we are away from the "middle" of the data set (normally just 0). Lets say I took the difference of the daily close of a symbol for the last two weeks, green candles would be positive and red would be negative. In this example my dataset of day by day closing price difference is:
week 1:
week 2:
sorting all of these value into a single dataset I have:
I can separate the positive and negative returns and explore their distributions separately:
negative return distribution =
positive return distribution =
Taking the 25th% percentile of these would just be taking the value that is 25% towards the end of the end of these returns. Or akin the 100%th percentile would just be taking the vale that is 100% at the end of those:
negative return distribution (50%) = -5
positive return distribution (50%) = +4
negative return distribution (100%) = -10
positive return distribution (100%) = +20
Or instead of separating the positive and negative returns we can also look at all of the differences in the daily close as just pure price movement and not account for the direction, in this case we would pool all of the data together by ignoring the negative signs of the negative reruns
combined return distribution =
In this case the 50%th and 100%th percentile of the combined return distribution would be:
combined return distribution (50%) = 4
combined return distribution (100%) = 10
Sometimes taking the positive and negative distributions separately is better than pooling them into a combined distribution for some purposes. Other times the combined distribution is better.
Most financial data has very different distributions for negative returns and positive returns. This is encapsulated in sayings like "Price takes the stairs up and the elevator down".
-------- III: Standard Deviation --------
The formula for the standard deviation (refereed to here by its shorthand 'STDEV') can be intimidating, but going through each of its elements will illuminate what it does. The formula for STDEV is equal to:
square root ( (sum ) / N )
Going back the the dataset that you might have, the variables in the formula above are:
'mean' is the average of your entire dataset
'x' is just representative of a single point in your dataset (one point at a time)
'N' is the total number of things in your dataset.
Going back to the STDEV formula above we can see how each part of it works. Starting with the '(x - mean)' part. What this does is it takes every single point of the dataset and measure how far away it is from the mean of the entire dataset. Taking this value to the power of two: '(x - mean) ^ 2', means that points that are very far away from the dataset mean get 'penalized' twice as much. Points that are very close to the dataset mean are not impacted as much. In practice, this would mean that if your dataset had a bunch of values that were in a wide range but always stayed in that range, this value ('(x - mean) ^ 2') would end up being small. On the other hand, if your dataset was full of the exact same number, but had a couple outliers very far away, this would have a much larger value since the square par of '(x - mean) ^ 2' make them grow massive. Now including the sum part of 'sum ', this just adds up all the of the squared distanced from the dataset mean. Then this is divided by the number of values in the dataset ('N'), and then the square root of that value is taken.
There is nothing inherently special or definitive about the STDEV formula, it is just a tool with extremely widespread use and adoption. As we saw here, all the STDEV formula is really doing is measuring the intensity of the outliers.
--------------------------- Flaws of Bollinger Bands ---------------------------
The largest problem with Bollinger Bands is the assumption that price has a normal distribution. This is assumption is massively incorrect for many reasons that I will try to encapsulate into two points:
Price return do not follow a normal distribution, every single symbol on every single timeframe has is own unique distribution that is specific to only itself. Therefore all the tools, shortcuts, and ideas that we use for normal distributions do not apply to price returns, and since they do not apply here they should not be used. A more general approach is needed that allows each specific symbol on every specific timeframe to be treated uniquely.
The distributions of price returns on the positive and negative side are almost never the same. A more general approach is needed that allows positive and negative returns to be calculated separately.
In addition to the issues of the normal distribution assumption, the standard deviation formula (as shown above in the quick stats review) is essentially just a tame measurement of outliers (a more aggressive form of outlier measurement might be taking the differences to the power of 3 rather than 2). Despite this being a bit of a philosophical question, does the measurement of outlier intensity as defined by the STDEV formula really measure what we want to know as traders when we're experiencing volatility? Or would adjustments to that formula better reflect what we *experience* as volatility when we are actively trading? This is an open ended question that I will leave here, but I wanted to pose this question because it is a key part of what how the Bollinger Bands work that we all assume as a given.
Circling back on the normal distribution assumption, the standard deviation formula used in the calculation of the bands only encompasses the deviation of the candles that go into the moving average and have no knowledge of the historical price action. Therefore the level of the bands may not really reflect how the price action behaves over a longer period of time.
------------ Delivering Factually Accurate Data That Traders Need------------
In light of the problems identified above, this indicator fixes all of these issue and delivers statistically correct information that discretionary and algorithmic traders can use, with truly accurate probabilities. It takes the price action of the last 2,000 candles and builds a huge dataset of distributions that you can directly select your percentiles from. It also allows you to have the positive and negative distributions calculated separately, or if you would like, you can pool all of them together in a combined distribution. In addition to this, there is a wide selection of moving averages directly available in the indicator to choose from.
Hedge funds, quant shops, algo prop firms, and advanced mechanical groups all employ the true return distributions in their work. Now you have access to the same type of data with this indicator, wherein it's doing all the lifting for you.
------------------------------ Indicator Settings ------------------------------
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---- Moving average ----
Select the type of moving average you would like and its length
---- Bands ----
The percentiles that you enter here will be pulled directly from the return distribution of the last 2,000 candles. With the typical Bollinger Bands, traders would select 2 standard deviations and incorrectly think that the levels it highlights are the 95.5% levels. Now, if you want the true 95.5% level, you can just enter 95.5 into the percentile value here. Each of the three available bands takes the true percentile you enter here.
---- Separate Positive & Negative Distributions----
If this box is checked the positive and negative distributions are treated indecently, completely separate from each other. You will see that the width of the top and bottom bands will be different for each of the percentiles you enter.
If this box is unchecked then all the negative and positive distributions are pooled together. You will notice that the width of the top and bottom bands will be the exact same.
---- Distribution Size ----
This is the number of candles that the price return is calculated over. EG: to collect the price return over the last 33 candles, the difference of price from now to 33 candles ago is calculated for the last 2,000 candles, to build a return distribution of 2000 points of price differences over 33 candles.
NEGATIVE NUMBERS(<0) == exact number of candles to include;
EG: setting this value to -20 will always collect volatility distributions of 20 candles
POSITIVE NUMBERS(>0) == number of candles to include as a multiple of the Moving Average Length value set above;
EG: if the Moving Average Length value is set to 22, setting this value to 2 will use the last 22*2 = 44 candles for the collection of volatility distributions
MORE candles being include will generally make the bands WIDER and their size will change SLOWER over time.
I wish you focus, dedication, and earnest success on your journey.
Happy trading :)
ADV_RSIADV_RSI - Advanced Relative Strength Index
Description: The ADV_RSI indicator is an advanced and mutated version of the classic Relative Strength Index (RSI), enhanced with multiple moving averages and a dynamic color-coding system. It provides traders with deeper insights into market momentum and potential trend reversals by incorporating two different moving averages of the RSI (21, and 50 periods). The indicator helps to visualize overbought and oversold conditions more effectively and offers a clear, color-coded representation of the RSI value relative to key thresholds.
Features:
RSI Calculation: The core of the indicator is based on the traditional RSI, calculated over a customizable period.
Multiple Moving Averages: The script includes two RSI moving averages (21, and 50 periods) to help identify trend strength and potential reversal points.
Dynamic RSI Color Coding: The RSI line is color-coded based on its value, ranging from red for overbought conditions to aqua for oversold conditions. This makes it easier to interpret the market's momentum at a glance.
Threshold Bands: The indicator includes horizontal threshold lines at key RSI levels (20, 30, 40, 50, 60, 70, 80), with shaded areas between them, providing a visual aid to quickly identify overbought and oversold zones.
How to Use:
The RSI line fluctuates between 0 and 100, with traditional overbought and oversold levels set at 70 and 30, respectively.
When the RSI crosses above the 70 level, it may indicate overbought conditions, signaling a potential selling opportunity.
When the RSI falls below the 30 level, it may indicate oversold conditions, signaling a potential buying opportunity.
The included moving averages of the RSI can help confirm trend direction and potential reversals.
The color coding of the RSI line provides a quick visual cue for momentum changes.
Ideal For:
Traders looking for a more nuanced understanding of market momentum.
Those who prefer visual aids for quick decision-making in identifying overbought and oversold conditions.
Traders who utilize multiple timeframes and need a comprehensive RSI tool for better accuracy in their analysis.
Enhanced Alligator Trend Indicator By Er. Parvez HaleemPurpose: The Enhanced Alligator Trend Indicator aims to identify strong and reliable buy and sell signals on the price chart by combining the Alligator Indicator with trend strength and volume filters. It is specifically designed for use on a 1-minute chart to enhance precision in short-term trading decisions.
Components:
Alligator Indicator:
Jaw Line (Blue): Calculated as a simple moving average (SMA) of the closing price over a specified period (default: 13 bars). Represents the long-term trend.
Teeth Line (Red): Calculated as a simple moving average (SMA) of the closing price over a shorter period (default: 8 bars). Represents the medium-term trend.
Lips Line (Green): Calculated as a simple moving average (SMA) of the closing price over an even shorter period (default: 5 bars). Represents the short-term trend.
Trend Strength Indicator:
Relative Strength Index (RSI): Measures the strength of the current trend, using a default period of 14 bars. RSI values above 50 suggest a bullish trend, while values below 50 suggest a bearish trend.
Volume Filter:
Volume Threshold: Filters signals based on trading volume to ensure they only appear when volume exceeds a specified threshold (default: 100,000). This helps to avoid low-volume noise and enhance signal reliability.
Additional Trend Filters:
Short-Term SMA: A simple moving average with a default period of 20 bars, used to assess short-term trend direction.
Long-Term SMA: A simple moving average with a default period of 50 bars, used to assess long-term trend direction.
SMA Crossover: A bullish crossover occurs when the short-term SMA is above the long-term SMA, and a bearish crossover occurs when the short-term SMA is below the long-term SMA.
Signal Generation:
Buy Signal: Generated when:
The Lips line is above the Teeth line, and the Teeth line is above the Jaw line (indicating a bullish alignment in the Alligator Indicator).
The RSI is above 50 (indicating strong bullish trend strength).
The trading volume exceeds the specified volume threshold (indicating sufficient trading activity).
The short-term SMA is above the long-term SMA (confirming a bullish trend).
Sell Signal: Generated when:
The Lips line is below the Teeth line, and the Teeth line is below the Jaw line (indicating a bearish alignment in the Alligator Indicator).
The RSI is below 50 (indicating strong bearish trend strength).
The trading volume exceeds the specified volume threshold (indicating sufficient trading activity).
The short-term SMA is below the long-term SMA (confirming a bearish trend).
Plotting on Chart:
Alligator Lines: The Jaw, Teeth, and Lips lines are plotted directly on the price chart in blue, red, and green, respectively, to indicate the long-term, medium-term, and short-term trends.
Buy/Sell Signals: Buy signals are plotted below the price bars in green, and sell signals are plotted above the price bars in red. These signals are marked with labels ("BUY" and "SELL") to clearly indicate trading opportunities.
Debugging: RSI and SMA lines are plotted but hidden by default. They can be revealed for verification purposes to ensure the correctness of the indicator’s calculations.
Alerts:
Buy Alert: Triggers when a buy signal condition is met, sending a notification that a buy opportunity has been identified.
Sell Alert: Triggers when a sell signal condition is met, sending a notification that a sell opportunity has been identified.
[UPRIGHT Trading] Academy of Forex - Scalp Strategy█ OVERVIEW
This is a collaboration of efforts of The Academy of Forex and UPRIGHT Trading .
The Academy of Forex - Scalp Strategy Indicator is a clean & reimagined lower indicator. To enable optimization & potential automation, we re-coded & optimized it at UPRIGHT Trading.
It is based on the one presented on its YT channel.
The idea is for it to be an easy to use - simple indicator - that works not just for confirmation, but also entering and exiting quickly (scalping).
█ CONCEPTS
The idea is that %B (derived from BBs) is able to pick up some pretty significant moves. With that as one of the bases the Inverse Fisher Transform (Ribbon) acts to show some of the movement of the asset highlighting when it at extremes. The RSI highlights are there as another confirmation to help normalize the sometimes too frequent movement of %B.
As expected the indicator often acts as a reversal indicator, but with the optimizations of logic it's able to pick up more than just the reversals and works as a pretty decent Buy/Sell Algorithm.
█ CALCULATIONS
Calculations used included, but not limited to:
- %B - Quantifies the price as a percentage to the Upper and Lower Band of the Popular Bollinger Bands, which were named after their inventor John Bollinger in 1980.
- Inverse Fisher Transform RSI - is a variation of the IFT, created by John Ehlers, the idea is for the IFT to convert Gaussian normal distribution and to take it a step further the RSI version is to just use overbought and oversold placements. This indicator is meant to highlight when price has moved to an extreme and in this process helps to spot turning points.
- Relative Strength Index (RSI) - As most of you know already the RSI is a technical analysis tool invented by J. Welles Wilder, that oscillates and is used to measure the momentum of price changes. It normalizes to index 0-100 with overbought and oversold defined by the user, but often around 70 as overbought and 30 as oversold.
- Pivot/Swing Points - Implemented to show recent Higher-Highs or Lower-Lows, Pivot points are included in the indicator for structure tracking.
- Moving Averages - Moving averages help to get an idea of when price is moving near the norm or outside to extremes.
█ FEATURES
Indicator Features:
-2 Buy/Sell Signals.
-U Signals (UPRIGHT optimized).
-Exit Reminders.
-Alerts allowing Automation of Scalp Strategy.
-H/L Swings.
-Color Customization.
-Clean Mode.
-Inverse Fisher Transform Ribbon.
-RSI Bullish/Bearish Highlights.
-Options for More Signals (including: Oversold/Overbought Circles, %B Bull/Bear Squares and Triangles, and IFT Highlights).
Showing some of the signals close up.
Should look like this:
Enjoy!
Sincerely,
Mike
[UPRIGHT Trading] Volatility Trend Filter (VTF) AlgoHello Traders,
As some of you know, I have had this in Beta for a long while now and it's finally time for a full release.
I originally designed this to be an Unreal Algo add-on to track & stay in the trade a little better, but the VTF Algo has become a full Algorithm and can be used standalone with supreme accuracy.
It's for beginners and advanced traders alike. I've made the settings very customizable, but also easy to just jump right in.
How it works:
It uses volatility , deviations, and tons of statistical calculations, confirmations, moving averages, and filters to bring you the most accurate Supply & Demand predictive algorithm possible. The VTF Algo will automatically normalize different volatility in any type of market to help avoid getting Chopped up and give a forward-looking approach to accurate Price Action and confirmation. It will automatically show support and resistance in real-time. The channel that The VTF Algo creates will help traders confirm whether they should stay in the trade or get out fast. As the green top grows it naturally acts as Supply and as the red bottom grows it acts as Demand, when one of them far exceeds the other the direction price will proceed to is clear to see.
Features:
-Easy-to-read Price Action & Trend channel.
-Exceptional Chop Filter (grayed center).
-Accurate Buy/Sell and Topline Continuation Signals.
-Rejection Signals.
-Multiple-Timeframe Customizable Trend Table. Showing Directional Arrows (see bottom right of picture).
-Bullish / Bearish Growing Blocks.
-Fully Customizable with Clean and Cleaner Mode.
The VTF Algo was made with all different types of traders in mind.
Some like things Ultra Crispy Clean:
Others like things a little more clean but can move their focus to where it's needed:
Lastly, there are those who don't mind things looking a little busy:
Topline Continuation Signals, Auto-Supply/Demand, and a Real-Time Multiple Timeframe Trend Table (in the bottom-right) corner:
Meshes perfectly as an Algo Add-on for Unreal Algo © (as originally designed) to enhance "The Simple Strat" © :
I tried to make everything as customizable as possible. So adding or removing or color-changing is super easy.
Happy Trading.
Cheers,
Mike
Double Top/Bottom [Early]Early Double Top & Bottoms
This script will scan pivot highs/lows as well as the macro highs/lows to determine whether it thinks there could be a potential double top or double bottom.
This does not mean there definitely will be but the indicator from this point will display the proposed pattern and set out a box where you could look for reversal signals.
The simple premise is rather than having to wait like most pattern scripts this will identify the pattern much sooner and set you up so you can decide how you would like to take action.
Settings
You have the option to choose what type of alert you would like to receive, one option is for an alert soon as the pattern is detected, the 2nd is for when price break the neckline.
below in the settings you have an option to determine what classifies a break. Either the price has to close over the neckline or it can be just a wick, up to you.
You can change all colours of the patterns, labels and line styles.
There are extra labels which can help explain when the pattern is spotted or point out when the neckline is broken depending on your choices
You can also change the frequency in which the patterns will be spotted where 1 is the lowest. We currently believe that 1 spots enough patterns however if you want more feel free to change this.
Use Cases
One is to simply try DCA into the Box if the DB / DT lines up with your support or resistance,.
Another way you can use this on the neckline breaks to confirm the pattern, in the settings you have an option to decide whether you want the close or the wick to trigger the neckline break.
Thirdly, one which we have had the most success with is lining the box plays up with divergence signals.
Feel free to leave any suggestions, happy for the feedback!
[LazyBear] SQZ Momentum + 1st Gray Cross Signals ━ whvntrI have modified LazyBears Squeeze Momentum Indicator with enhancements, plus added signals
LazyBear mentioned that in John F. Carter's book, Chapter 11, "Mastering the Trade", that "Mr. Carter suggests waiting till the first gray after a black cross, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). Exit the position when the momentum changes (increase or decrease --- signified by a color change)." I have done just that. Now at each "first gray after a black cross", there are now Bearish and Bullish signals.. The signals only appear in the direction of the momentum.
Disclaimer: This indicator does not constitute investment advice. Trade at your own
risk with this method of identifying changes in stock market momentum.
Effortless ScalpingEffortless Scalping is an indicator that primarily is used for stock options trading.
Effortless Scalping is based off of momentum. Our script takes into account the price action, volume, and historical data points of a stock to give potential "buy" and "sell" areas.
Effortless Scalping is a protected script because its Buy and Sell signals are based off of custom coded confirmations. This is what makes our script unique. We also have custom coded CHOP Filters in the indicator.
Effortless Scalping has a custom EMA line that flows with the trend of the market. It also changes colors to indicate a bullish or bearish trend . It also will change into a yellow color if the CHOP of the market exceeds your allowance. This EMA line is the only "classic" element of our custom coded script.
You can easily use Effortless Scalping by applying it straight to your chart. You can customize several visual effects in the settings menu.
Effortless Scalping also has two types of signals--RISKY signals and normal signals. Risky signals have a higher risk, but also a higher reward.
Effortless Scalping also features take profit levels based off of ATR levels.
Effortless Scalping also has custom support and resistance lines to better help you analyze the movement of a stock. These levels are based off of pivot levels.
Effortless Scalping can not predict the future move of a stock. Our script uses historical data points to alert POTENTIAL entries. These historical data points by NO MEANS predict the future movement of the market.
Effortless Scalping was created to help me understand the movement of a stock and why it may be moving in that direction. I personally found success using this script. I am sharing it because I am hoping that others find success in this script as well. I also like to trade quite frequently, and several times a day, so I made an indicator that is both accurate and alerts frequently.
This indicator does NOT provide financial advice. It is intended for general use only.
Alien Brain👉 What is this indicator ?
This indicator is made up with the help of Multi Trend , Moving Average and Price Action , In this beautiful indicator, The buy and sell entry is taken by comparing the trend in the higher time frame with the Trend in the short time frame using our secret logic.
👉 What kind of Buy and Sell signal is there on this indicator ?
Four types of buy and sell signals are displayed on this indicator, each marked as M.Buy(Master Buy) , M.Sell (Master Sell) , Buy1, Sell1, Buy2 , Sell2, Buy3 and Sell3 respectively. These four types of indications are obtained by comparing the trend in the higher time frame with the Trend in the short time frame.
👉 What kind of Take Profit signal is there on this indicator ?
Four types of take profit signals are displayed on this indicator, each marked as TP1,TP2,TP3 and TP4 respectively. The take profit signals available for both buy and sell entries. The take profit of the buy entry is shown in Green Color and the take profit of the sell entry is shown in Red Color.
Note : Take Profit Signals Only Available for Master Buy and Master Sell
👉 What kind of Exit signal is there on this indicator ?
Exit signals can be seen at the end of the trend
Note : Exit Signals Only Available for Master Buy and Master Sell
👉 How many alarms does this indicator have ?
This indicator has 18 types of alarm for Buy , Sell , Take Profit and Exit signal, and it is best to set the alarm by selecting the Alert Once Bar Close option to avoid repaint.
👉 On which coins can this indicator be used ?
This indicator is best used on all cryptocurrencies, forex markets and stocks , This indicator is very helpful to get high returns on all cryptocurrencies with low price and high voltality
Note : This indicator only works well in 1 min time frame , Use appropriate values when using other coins. If you have difficulty finding the value, you can contact us.
Default Setup Instructions 👇
Time Frame : 1 Minute
Default Coin : OGNUSDT
The following settings can be found in this indicator
TOP BRAIN - Factor : This is the ATR Factor Value for High Time Frame trend. You can change this value according to the volatility, the ATR Factor value is also used to reduce the chance of a fake signal
MID BRAIN - Factor : This is the ATR Factor Value for Low Time Frame trend. You can change this value according to the volatility, the ATR Factor value is also used to reduce the chance of a fake signal
MID BRAIN - Threshold : This is the difference between price and moving average. Changing the value of this option will change the accuracy of the trading signal
LOW BRAIN - Factor : This is the ATR Factor Value for Second Low Time Frame trend.
Take Profit - TP1 Percentage : Give What percentage for take First TP of Master Signal
Take Profit - TP2 Percentage : Give What percentage for take Second TP of Master Signal
Take Profit - TP3 Percentage : Give What percentage for take Third TP of Master Signal
Take Profit - TP4 Percentage : Give What percentage for take Fourth TP of Master Signal
[UPRIGHT Trading] Awesome STC+Hello Traders,
I hope you all are doing well.
Today I'm releasing another one of my favorites: the Schaff Trend Cycle (STC). In 2008, Doug Schaff publically released the STC as an improvement on cycle oscillators and the MACD, hence its common nickname, "The better MACD."
This oscillator is essentially a fusion of the benefits of trend and cycle indicators; the idea is to minimize their drawbacks, such as lags or false signals. The STC is mainly used to determine or confirm price direction and market reversals.
We calculate the STC as a double smoothed stochastic of the MACD, which outputs an oscillator that moves between 0 and 100.
How is it typically used?
In trending markets, we can expect the oscillator to move up if the market is in the accelerating uptrend and an accelerating downtrend are to push the oscillator down.
In sideways markets, the STC shows oversold when it reverses after falling below 25; overbought when the STC turns down from above 75.
How the Awesome STC+ is different:
This STC uses several complex equations and filters to improve accuracy and reduce lag.
My original STC wave.
Multiple extremely accurate Buy/Sell signals not found on a traditional STC indicator.
Ability to use 4 different background highlights and several buy/sell and confirmation signals.
Fully customizable (as always), ability to turn on or off any signals, change any of the colors to suit your needs.
Pre-filled Alerts.
Reversals and Continuations.
Chart should look like this:
Please see the "Author's Instructions" for access.
Cheers,
Mike
(UPRIGHT Trading)
Precise Supply Demand Levels
Concept of Supply and Demand Zones
The concept of supply and demand zones is confusing to some traders. And most tend to believe it's not a concrete concept to be relied upon as they don't exactly know where to draw the lines precisely that best represents the supply and demand zones.
A demand zone is where most traders placing their buy order based on the historical trade analysis; these areas could be found at the lowest low with strong support levels. A demand zone is formed where price is most deviated from it's equilibrium market price in lower direction where most sellers has exhausted their energy along the way and the buyers has regained their energy for a bullish momentum.
A supply zone is where most traders placing their sell orders. These are are often found at the highest high with strong resistance level. A supply zone is formed where price is most deviated from it's equilibrium market price in higher direction where most buyers has exhausted their energy along the way and the sellers has regained their energy for a bearish momentum.
Underlying Algorithm used in the indicator
I am using the of concept of "Frequency Lines" to calculate the areas. Lines with the highest frequency has the most support and resistant strength to cause a reversal on the opposite direction.
Settings and Stylings
Lookback : Default is 50 (The lookback period for calculatibf pivots)
No of Pivots: Default is 3 (The maximum number of pivots to consider, higher will result more boxes)
Aligned: Default is True
Whether to align the supply demand levels or not. If true, it will check the deviation of adjacent supply demand levels, if they are very close it will align themselves vertically to create a single level of support or resistance.
A layout with the levels not aligned
Aligned layout
This levels also will most of the times work as support and resistance levels.
I haven't added any other extra features to make the performance robust. Although I might add in future upon requests.
For now I am keeping it in protected mode, as this is my first indicator script and I am unsure of what to expect from it, but If I get enough of your support and love, I might make the source code public.
Thank you for visiting my page and I hope this helps in your trading journey. If it does truly help, follow me as I will be publishing many more indicators soon.
[UPRIGHT Trading] Awesome MACD+ (cc)Hello Traders,
I'd like to introduce you all to the Awesome MACD+ indicator.
As most of you know, the Moving Average Convergence Divergence, MACD, indicator is a one of the most popular indicator among traders. The MACD is a trend-momentum indicator that measures the relationship between moving averages and uses a signal line to show crossovers between the MACD line. The signal line is generally used as a trigger for buy/sell signals with a cross of the MACD line or confirmation when used with other strategies. More advanced traders will look for divergences; divergences can, for example, indicate a weakness in the current trend.
How the Awesome MACD+ is different:
This MACD uses several complex equations and filters to improve accuracy.
Multiple extremely accurate Buy/Sell signals not found on a traditional MACD indicator.
Ability to use 2 different background highlight signals and several different buy/sell signals.
Fully customizable (as always), ability to turn on or off any signals, change any of the colors to suit your needs.
***I've used Bitcoin in the chart above just to show that it is still extremely accurate using alt-coins as well.
On AAPL
Advanced algo trend filtering
Easy to read signals for every level of trader.
..Can work for the minimalist.
..Those that want every signal.
..Those that like a balance of signals.
Whatever your style or skill level, the Awesome MACD+ can be customized to fit your needs.
The above chart should look like this:
Good luck Traders.
Cheers,
Mike
(UPRIGHT Trading)
M.Right Awesome RSI+ (cc)Hey Traders,
Tonight I figured I'd release a special indicator that I've had in the works for years and finally was able to piece it together using pine. It's an extremely accurate take on the RSI. I plan to continue to refine the indicator and add more features, but as it is this is still one you can make a lot of money with.
(((((Please note: all circles and arrows in the chart above are drawn for illustration. Below is a chart showing regular session)))))
This indicator will act similarly to a regular RSI (Relative Strength Indicator) in that there are Oversold and Overbought levels, but also volatility bands around it to allow for more accurate signals whilst moving the Oversold (OS) and Overbought (OB) levels further apart ( less false OB/OS signals ). As shown in the chart above, it's able to detect some pretty big moves with both speed and accuracy .
Most of you are familiar with and use an RSI indicator so I will keep this description as brief as possible: The Relative Strength Index (RSI), developed by the legendary J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements; it oscillates between 0 - 100, with levels set as Overbought and Oversold. These levels are where a trader make look for a reversal, however they must keep in mind in an uptrend or bull market, the RSI tends to remain in the 40 - 90 range; 40 - 50 zone often will act as support. More advanced traders will also look for divergences between the price and the oscillator (i.e. price trending upward while oscillator trending downward). As far as oscillators go, the RSI is one of the most frequently used, by both advanced and beginner traders alike.
Works great on multiple timeframes. It may not catch every rally, but it will catch most --even on smaller timeframes (i.e. 5 minutes in image below).
As with all of my scripts I like to make them customizable:
You can change the up and down colors on the RSI ribbons and the color and style (dotted shown) of Overbought / Oversold lines. In future versions, I will add more color customizations and additions.
Can toggle 1 or both of the 2 highlight signals off to make it a little more plain.
Lot's of ways to make it look the way you'd like it to.
--The alerts include both the super accurate Bullish and Bearish signals shown with the background highlights. They are pre-filled so it will automatically display the price and time that the alert went off for you.
If I missed anything or you have a question, please let me know!
Cheers,
Mike
Please note: I have made this indicator invite only, send me a DM if you're interested in trying it out.
M.Right_ OBV / Volume Smoothed RSI & 3 RSI EMAsFirst, I'd like to thank all those coders who've inspired me to learn and code my own indicator. This is the result of tireless hours of work learning to code and tweaking until everything fits exactly what I was looking for. After using it for a while and seeing the benefits personally, I figured now might be a good time to share with everyone while we are in such great market volatility , maybe I can save you some losses.
Basically, my indicator is meant to use RSI, Volume, and Volatility to show where oversold and overbought levels are, but also good times to buy and alerts.
I've tried to make my indicators as customizable as possible with all the bells and whistles you'd expect, but to have Proprietary calculations under the hood that you probably won't find anywhere else.
This indicator is a great pair with my Top and Bottom Finder.
Features:
Works on all timeframes.
Alerts.
Background highlights.
Buy/Sell signals and arrows (with the option to remove them).
Let me know if you have any questions, and enjoy.
Cheers,
Mike
Sola Fide [Strategy]Sola Fide High Accuracy with ATR R:R
Indicators used:
- Stochastic RSI
- Chopiness Index
- RSI
- Ichimoku Cloud
- ATR
Script has been set up in strategy format to give backtesting data.
The strategy has been made for BTC and ETH pairs against USDT on the hourly timerframe
Currently outperforming the Buy and Hold Return on both assets.
This script has been made to make it easier to automate strategies on 3commas
In the settings you will see options for BTC strategy or ETH strategy
Choose the asset you are on, copy your 3commas Bot ID and Email token and paste them into the settings box for eachever asset you are on.
To receive the alerts set up within the strategy, in your alert message box use " {{strategy.order.alert_message}}"
This will then be able to send any orders taken on the tradingview script directly to your long or short bot on 3commas
This strategy is set up with a strict set of rules on the ATR for the Take profits and Losses.
There is a repaint warning because the code uses heikin ashi candles through the security function, the given entry and exit signals do not repaint,
I have been automating this for myself with no errors.
You don't need to use more than 3x leverage...
Past results do not guarentee future results.
Saper Aude [Alerts]Sapere Aude Strategy - Alerts
Trend based scalping strategy, to work on lower timeframes (15Minute - 1 Hour)
Calculations on ATR, strategy uses extra conditions to help filter out bad trades.
How to use the Indicator?
Simple as when green line shows below, that can be either a good entry point or a signal to start building limit orders on the plot.
I use the ATR as a trailing stop loss for exit.
vica versa for entering shorts. The strategy is only set up to take long positions though.
This is a great scalping strategy for bots in Ranging or up trending markets.
This scripts has 5 variations built within it which are fitted for certain coins & their timeframes
The coins included are
BTC /USDT 1 Hour
ETH/USDT 1 Hour
ADA/USDT 30 Minutes
DOGE/USDT 15 Minutes
LUNA/USDT/15 Minutes
You should find the preset alerts for these when you click "Add aler" on this indicator
You will see in the settings what default Stop losses I used
The script is written in Version 4
The strategy performs best on the Binance listings
Ema System Ajeet v1.0This is a 5 min, Trend following system
using two Ema's: 20 and 50
Probability of hitting the target is high when both Ema's are:
Rising and almost parallel, for Buying
Falling and almost parallel, for Selling
This will decrease the number of entries but probability of hitting the target is 88%
(Tested on 8 months data for FnO scrips cash on 5 mins data)
Target fixed at 1% or you can trail
SL fixed at 1% or you can take close above Ema20 as stop for buying and vice versa
I tested it on FnO stocks Nseindia with 5 mins chart, you are free to explore
-Ajeet Singh
Plutus eXploration Index - PXIGreetings Fellow Traders!
We have developed this simple and easy to use indicator so that all users can benefit from it by:
• Reducing the amount of time spent trading.
• Minimizing the risk of loss.
• Accurate timing on entries and exits.
• Signals are accurate in volatile market conditions.
What is the PXI?
The Plutus eXploration Index falls under the centred momentum oscillator category which means that it fluctuates above and below a central point or line. Apex levels exist, where the indicator will reach a peak, and start moving in the opposite direction. Two lines move in unison and crossovers will signal a buy and a sell.
Setting up the indicator:
Once you have received your invite, the indicator will appear under your "my invite only" scripts in trading view detailed charts screen. Select PXI and add it to your chart. For free accounts on TradingView, the indicator limit is set to x3, so please de-activate something if you hit this limit.
You can access the PXI setting in the string of icons that follow after the indicators name in the top left corner of the indicator chart. In order:
Name | Visibility | Settings | Show source code | Delete | More
Under the settings, there are two tabs. One for the style, which you may freely change to suit your preferences. And then the first tab, for Inputs. The default settings for Long Minima, Short Maxima and Integrated EMA should not be changed.
The critical change to make in the input settings is the time frame !
The time frame on the price chart and the time frame on the indicator have to match! The range of allowable time frames is as follows:
15min | 30min | 1h | 4h | 12h | 1d | 2d | 1week
How to use the PXI:
The apex levels on the oscillator differ for each asset and vary depending on the selected time frame. The signals provided near apex points shall hold more weight. We recommend that traders assess these levels properly before considering a position.
Sell signal: Sell signals occur when the quick line (default blue) crosses over the slow line (default orange) from above.
A red arrow down will mark this point in time out on the chart.
Buy signal: Buy signals occur when the quick line (default blue) crosses the slow line (default orange) from bellow.
A green arrow down will mark this point in time out on the chart.
Maximizing Risk/Reward and profitability:
The indicator strives to keep positions open long enough to reap real rewards in the market. Maximum profit levels naturally occur around the apex points on the indicator chart, and the onus is on the trader to attempt an early exit once these levels are achieved.
Addition points to consider:
Most profitable trading signals occur on the daily time frames while considering the duration of trades and timing of the signals. For the lowest risk levels, weekly time frames are most suitable. From the weekly time frame down, the risk increases incrementally until you reach the 15min time frame. Signals at the lower levels occur more often and they are effective but, they should, however, be monitored closely. Also, the lower the time frame, the higher the chances of false-positive signals.
will not be liable for damages of any kind resulting from your use of or inability to use the indicator or content.
Bitcoin Real VolumeBitcoin’s Real Volume
An accurate read on the change in Bitcoin’s volume profile over time.
Based on 2019 reports by Bitwise and Alameda Research.
Please see the script code notes for assumptions and details on data selection.
Follow me for more information on this script.
🔗Blockchain Fundamentals - PUELL MULTIPLE! by Cryptorhythms🔗Blockchain Fundamentals - PUELL MULTIPLE! by Cryptorhythms
Intro
The PUELL MULTIPLE! is a way to gauge market cycles from a mining profitability / compulsory sellers' perspective. It takes total miner revenue and adjusts by its yearly moving average. Calculation = mining revenue / 365-day simple moving average of mining revenue.
(The indicator is written that way in all caps at the request of its Creator David Puell)
Still over half a dozen blockchain based indicators to come (follow me and dont miss them!)
IS THE BOTTOM IN ?
The PUELL MULTIPLE! seems to suggest it is. With an insanely accurate call history this is a long term bitcoin maximalists dream indicator. You're welcome!
Extras
As usual we took care of you with some selectable options for the MA type and length so you can experiment.
Want more information?
For a better write up that I could do, check out this thread here: medium.com
👍 Enjoying this indicator or find it useful? Please give me a like and follow! I post crypto analysis, price action strategies and free indicators regularly.
💬 Questions? Comments? Want to get access to an entire suite of proven trading indicators? Come visit us on telegram and chat, or just soak up some knowledge. We make timely posts about the market, news, and strategy everyday. Our community isn't open only to subscribers - everyone is welcome to join.
For Trialers & Chat: t.me
Jawwad Nitro_2 Crypto Forex Strategy - Highly ProfitableThis strategy is tested on selected crypto and forex pairs. It seems to be highly profitable and non-repainting. You can make some good money until you are following it properly and not playing with the settings.
1. Use 15 minute Heiken-ashi chart.
2. Apply the strategy.
3. Enjoy!!!
If this strategy works for you, please don't forget to buy me a cup of coffee... If you find anything wrong, please let me know. I shall be happy to fix it for you.
Cheers,
Jawwad
