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Average True Range (ATR)

Daily GAP StatsI did not write the script from scratch but rather started editing code of an existing one. The original code came from a script called GAP DETECTOR by @Asch- First up: I am a trader, not a programmer and therefore my code most likely is inefficient. If someone with more expertise would like to help and optimize it - feel free to get in touch, I am always happy to learn some new tricks. :) This script does 2 things: - It shows daily gaps stats based on user inputs - It shows color coded labels on gap days with additional information in tooltips ( important: make sure to read 'known issues/limitations' at the end ) User Inputs ========== Although the input dialog is pretty straight forward, I do a quick rundown: - Length: max lookback time - Gap Direction: self explanatory - Show All Gaps | Cont Only | Reversal Only | Off: This refers to the way labels are displayed on gap days (again: make sure to read known issues/limitations!) - Show All Gaps: does what it says - Cont Only: only shows gaps where price continued in the gap direction. If you filter for gap ups and chose 'Cont only' you will only see labels on gap days where price closed above the open (and vice versa if you scan for gap downs). - Reversal Only: you will only see labels for closes below the open on gap up days (and the opposite on gap down days) - Off: self explanatory - Gap Measure in ATR/PCT: self explanatory, ATR is calculated over a 10d period - Gap Size (Abs Values): no negative values allowed here. If you filter for gap downs and enter 3 it means it will show gaps where the stock fell more than 3 ATR/PCT on the open. - RVOL Factor: along with significant gaps should come significant volume. RVOL = volume of the gap day / 20d average volume - Viewing Options: Placing the stats label in the window is a bit tricky (see knonw issues/limitations) and I was not sure which way I liked better. See for yourself what works best for you. Known Isusses/Limitations: ======================= - Positioning of the stats table: As to my knowledge, Tradingview only allows label positioning relative to price and not relative to the chart window. I tried to always display the gap stats table in the upper right corner, using 52wk high as y-coordinate. This works ok most of the time, but is not pretty. If anybody has some fancy way to tag the label in a fixed position, please get in touch. - Max number of labels per script: TradingView has a limitation that allows a maxium of ~50 labels per script. If there are more labels, TradingView will automatically cut the oldest ones, without any notification. I have found this behaviour to be rather inconsistent - sometimes it'll dump labels even if there are a lot fewer than 50. Hopefully TradingView will drop this limitation at one point in the future. Important: The inconsistent display of the gap day labels has NO INFLUENCE on the calculations in the gap stats table - the count and the calculations are complete and correct!
Pine Script™ indicator
by dax50
15
MA Trailing StopA Trailing Stop indicator that uses a multiple of ATR below a SMA/EMA line. Support long positions only. Configurables: 1. Use SMA or EMA 2. MA Period 3. ATR multiplier 4. ATR look back period The bottom of the red area indicates the stop line. The top of the red area indicates the reference MA line. Ideal use case is you find your a red area that covers most local lows. The stop line moves up with MA, but does not move down if MA moves down. If moves down (re-calculates itself) only when a low penetrates the stop line.
Pine Script™ indicator
by szewa1992
4
Chandelier Exit | SAR/Long Only (4CUP)As introduced by StockCharts.com, Chandelier Exit was developed by Charles Le Beau and featured in Alexander Elder's books, this sets a trailing stop-loss based on the Average True Range (ATR). Chandelier Exit can be formulated as a stop-and-reverse (SAR) or as a traditional trailing stop-loss version shown by Stockcharts.com. The main difference is that, in SAR version, the indicator is usually formulated in a higher of previous or spot indicator (HPS) for long and lower of previous and spot indicator (LPS) for short position. This indicator is coded to show both the SAR version and the traditional one shown by Stockcharts.com (for long position) by simply clicking a tick in the Version box. The ATR multiplier is relaxed to allow non-integer input, like 3.5, 4.25, ... for a greater flexibility to tailor your best-fit exit strategy. If you find this indicator is useful to you, Star it, Follow, Donate, Like and Share. Your support is a highly motivation for me.
Pine Script™ indicator
by earnSmartAlgorithm
Minimum Average True RangeI use ATR a lot when designing trading strategies, this way the strategy adjusts to the instrument in most cases instead of me plugging in special numbers. However, ATR itself could get spiked by some violent moves. For this I have created MinATR which I am publishing here. It is effectively ATR + minimum ATR over the last "Min Length" bars. (this is a parameter which I have defaulted to 50). So use this the same way you use ATR, but it will also show the min ATR over the last "Min Length" periods.
Pine Script™ indicator
by asenski
9
2HLA very simple, almost naive strategy, in which you buy on the lowest of the two previous candles and sell at the highest of the two previous candles. You can configure these highest and lowest lenght, in some assets two is too small of a number to make profit. You can also configure to exit the position after X, and I found that 7 (which is a week of working days) is a good number for that. This is strategy is intended to be used as a swing trade. Your capital needs to be high enough so that it can pay the operaitonal costs, and reach it's target with a reasonable profit. Since this is a volatility based strategy, assets that are more liquid won't work properly.
Pine Script™ strategy
by EduardoMattje
7
Supertrend - Delayed TrailI use supertrend for for trailing stops. One of the problem of trailing stops in long term trend trading is we get stopped too early and then trend continues. To avoid this problem, we can limit or delay our trailing. In this modified version of supertrend, we can delay trailing by two methods: Bars : Trail after certain bars. Input DelayBars says after how many bars it should trail. Steps : Trail after reaching equivalent stop on the other side. ConsiderWicks option reverse direction upon high reaching trailing Sell stop or low reaching trailing buy stop (instead of close) ConsiderWicksForDelayByStep does the same thing for calculating if the steps have reached.
Pine Script™ indicator
by Trendoscope
4
GAURs Polynomial Regression ChannelsThanks to The Sweet Lord , here is the Gaur's Polynomial Regression Channel. Its a Polynomial Regression Channel but applied a little differently. Wont go into technical details much. Overview of options is as follows- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Channel Options - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1. Degree of Polynomial: 1/2/3 Default = 3 Defines the degree of polynomials - 1,2,3. Note here, degree 1 will not be a straight line since its applied differently. Try different degrees for different fits and market conditions. 2. Channel Length: Default 30 (candles) You can go beyond 100 or 200 candle lengths but smaller is the usual preference of Poly-Reg-channel traders. It all depends on market conditions and your style of trading. Do your research. I am usually comfortable with a range of 20-50 (in crypto markets). 3. Basis of Channel height/boundries: ATR/Manual Default: ATR ATR provides a dynamically adjusted entry/exit bounds of the channels. As ATR changes, the channel bounds also changes its height. It can also be fixed manually. Manual heights wont change automatically. 4. Basis of Y-Value: open/close/ sma / ema / wma /hilow Default: close Y- value is the y value of the (x,y) coordinates used while calculating the regression coefficients. Dont worry about it, its nothing serious. 5. Apply channel smoothning using sma?: Yes/No Default: Yes Without smoothning, the channel does not "look" good. 6. Shaded Area Height Percentage: Its the extra margin for the channel. Its in percentage of the total height (defined 3 above) of channels. The shaded area provides an extra allowance for your entries or exits beyond the ATR or manual heights. 7. Plot RSI?: Yes/No Default: Yes Plots RSI (orange line in between the channel - its different from the dotted center line) considering the downbound of channels as 0 (oversold) and upbound of channels as 100 (overbought) 8. Plot 200 sma?: Yes/No Default: Yes It plots a 200 period fast (green) and 225 period slow (red) sma . I usually use two MAs. Its visually very easy to understand. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Sample Strategy - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - You can develop your own strategy with the channels. But following is just one of the ways you can trade. Best Application: Ranging markets. But can be happily used in volatile conditions, with a little experience. 1. SMA: -- (this condition is optional really) If green (200) is above red (225) go only long. If red is above green go only short. Defines long term trend of the market. 2. Channel slope: -- (this stuff needs practice/experience) Depending on the channel slope, like if its tending to go up or down, you can choose to take only short or long trades. It defines short term momentum of the market. 3. ATR based heights: Since its ATR based, the channel height are our natural entry and exit points. Long: When price touches lower shaded area, consider possible long entry. Exit on price entering the upper shaded area. Short: Enter on upper bound shaded area, exit on lower. 4. RSI: For additional conformations. Again note, the RSI considers the lower bound of channel as 0 and upper as 100. But since, the channel moves up and down, the RSI will also move not only as RSI but also with the channel. Meaning, say if the RSI is valued at 50, then it will be near the center of the channel but since the center changes as time and price changes, the RSI valued at 50 at different times will not be at the same horizontal level respect to the graph, although it will be at the same level (center) respect to the channel. 5. PRC Channel Percentage label: This label is at the lower side a bit ahead of the current candle. Provides you info on what is the channel percentage. This is especially helpful in crypto markets to gauge your possible percentage profit where profits can be much higher than forex or other instruments. It can also helps you select a suitable market/instrument if the channels are based on ATR. 6. Extra indicators: I usually use stochastic along with this setup for extra conformations. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Donate - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Use freely and donate generously if you find value. Your help will really help. I had earlier provided BTC addresses for donations but it seems to violate TV House rules. Hope they make TV coins redeemable in future. - Pranav Joshi - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Extra Info - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - // © cpranavjoshi // special thanks to the "Trading View" people for providing this great platform for free // ------------------------ // MATH // ------------------------ // special thanks to an article on the web that provided layman friendly explanation of the maths // unfortunately i wont be able to provide the link to that article owing to TV restrictions, though i sincerely would have liked to credit the author. // Google search this phrase, and you should be able to get it in one of the first results - "polynomialregression Mathematics of Polynomial Regression" // my regression math calculation is a further resolution upon the generalized matrix formula given in the that article. // the generalized matrix looks scary but in fact its much simpler than one may assume // the summation sign things are just float numbers that can be easily found out // so we get a matrix with number of equations equal to the number of unknowns. // e.g. if its a 3rd degree poly, it has 4 unknowns (c0,c1,c2,c3) with 4 equations as in the generalized matrix // it can be resolved by simple algebra // Note: the results have been verified with excel using same input data points. // pine was difficult for me so i coded it in python first to verify // ------------------------ // WHY // ------------------------ // this script was coded because Pranav badly needed Polynomial channels (had used them in mt4 earlier) // and at the time of this coding, i could not find any readily available script in the trading view public library ( tnx public) // the complex math was probably the hurdle // i m not good in maths, but by the Will of the Lord, i could resolve the issue with simple algebra and logic // ------------------------ // PINE // ------------------------ // i am just an average (even poor probably) programmer and pine script is not my language // this is a humble attempt to write my first pine with whatever i could do quickly // experts - feel free to develop if needed. have used some workarounds in drawings/plottings. rectify them if possible // // // - Pranav Joshi
Pine Script™ indicator
by cpranavjoshi
2
Renko MTF - Traditional and ATRSomehow there aren't too many renko bars that have the traditional setting built-in so I put one up. This one has the option to choose between Traditional and ATR, the size number corresponds to the option that was chosen. And just in case if anyone wanted, I put up a multi-time frame option to choose the time frame the bars take place. D is for day, W is for week, flat numbers are in minutes, and leaving it blank looks at the current time frame the chart is in. The calculation comes from how Tradingview handles renko bars. Renko bars don't paint a color unless the market moves a certain amount based on its settings. When the market moves up it turns green, if it moves down it turns red, simple color changes alone can say a lot. They're a good way to try to find trends somewhat objectively and seem to be a good way to eliminate time and can replace other time-based indicators that can whipsaw or lag. The bars have a tendency to repeat themselves so it's a good way to find trends. There aren't too many settings for the box size, most people either just choose 5, 10, 14, etc where as other indicators have many options that differ on different markets. The numbers can be chosen easily enough to pick a sweet spot with just a single input where other indicators such as MACD have multiple inputs to pick the right number that can make it difficult to choose from(although it won't be as precise as a MACD would sometimes but can be worth the objectiveness and consistency and same setting repeatability in different markets in my opinion). Some example strategies could be to use them as an alternative trailing stop, finding trends, a simple color change for entry and exit on top of other strategies, etc. It can do the job of many in an all in one price action type indicator(although not better all the time, it can come close enough). Despite all this, it does seem to depend on which time-frame it's being looked at, how TV does the calculation for it, and how one can use this with the lack of practical information on it out there.
Pine Script™ indicator
by SparkyFlary
17
Volatility Support & Resistance [LM]Hello guys, I would like to introduce you volatility support and resistance horizontals. It draws line horizontal on high and low vhighly volatile candles. You can select lines on this timeframe and/or another one. It's done in the same spirit like my other indicators for horizontals The colors are dynamic depending whether price is below or above the line: for the current timeframe green is used for support and blue for resistance for the other timeframe by default 4h orange is used for support and violet for resistance There are various sections in setting: general settings - here you can select ATR length, multiplier and show labels show and hide section of the current timeframe other timeframe show and hide other timeframe horizontals Any suggestions are welcome
Pine Script™ indicator
by lmatl
1
ATR TRex [ipooya]To appreciate dear Mr.Khakestar efforts I have converted his mt4 ATR formula to pine script. All credits go to him. you can view the ATR result of each candle in the past: The first black number is the ATR of the M1 chart. The second black number is the ATR of the M5chart. The third black number is the ATR of the M15 chart. The fourth black number is the ATR of the H1 chart. The fifth black number is the ATR of the H4 chart. The sixth black number is the ATR of the Daily chart. The seventh black number is the ATR of the Weekly chart. **and the second number of every line is live ATR ( current ATR candle) What makes this ATR formula so different? This formula invented by Mr.Khakestar and it shows the power of the price to move in each cycle of the chart. We can use it in RTM strategy and Price Action trading. To learn how to use it you need to learn TRex strategy (Presented by Mr.Khakestart for free in Persian).
Pine Script™ indicator
by ipooya
10
quantized pin bar indicator with ATRAbstract This script computes the strength of pin bars. This script uses the corrent and the previous two bars to compute the strength of pin bars. The strength of pin bars can be also comared with average true range, so we can evaluate those pin bars are strong or weak. Introduction Pin bar is a popular price action trading strategy. It is based on quick price rejection. Most of existing pin bar scripts only determine if a bar is a pin bar or not. However, evaluating the strength of pin bars is important. If price rejection is too weak, it is difficult to trigger trend reversal. If a pin bar is too strong, we may enter the trade too late and cannot have good profit. In this script, it provides a method to compute to strength of pin bars. After the strength of pin bars are quantized, they can compare with average true range, price range and trend strength, which can help us to determine where are worthy for us to open trades. Computation Bullish hammer : current low is lower than ( previous high or current open ) and current close. Bearish gravestone : current high is higher than ( previous low or current open ) and current close. Bullish engulfing and harami : ( current low or previous low ) is lower than ( previous 2nd high or previous open ) and current close. Bearish engulfing and harami : ( current high or previous high ) is higher than ( previous 2nd low or previous open ) and current close. Parameters Smoothing : the type of computing average. Length of ATR : determines the number of true ranges for computing average true range. ATR multiplier line : the threshould that a pin bar is strong enough. For example, if this value is 0.5, it means a pin bar with 0.5*atr or more is considered a strong pin bar. one direction pinbar : set to 1 if you want the strength of bullish pin bars and bearish pin bars are cancelled. Set to 0 if you want to keep both strength of bullish pin bars and bearish pin bars; in this case, you may need to change the plot style to make both strength visible. Trading Suggestions Evaluate the strength of trend against pin bars. After all, a single reverse pin bar may be too weak to reverse the trend. Timeframe : if atr is higher than 4*spread, the timeframe is high enough. However, if strong pin bars appear too frequent or price range is too small, going to higher fimeframe may be more safe. Entry and exit : according to personal flavors. Conclusion The strength of pin bars can be quantized. With this indicator, we can find more potential pin bars which human eyes and binary pattern detectors were leaked. In my opinion, 0.5*atr is the most suitable streng of a pin bar for my trade entry but I still need to consider the direction of the trend. You are welcome to share your settings and related trading strategy. References Most of related knowledge can be searched from the internet. I cannot say the exact references because they may violate the rules of Tradingview.
Pine Script™ indicator
by clocks156t174
2
SuperTrendRange by DGTSuperTrendRange study attempts to determine the state of the market • whether a well-established bull/bear trend is present • whether the market is trading in a range SuperTrendRange (STR) takes into account the volatility of the market - further details regarding volatility can be found in the description of “Volatility Bands by DGT” study Due to its similarities to SupertTrend (ST) and Parabolic SAR (SAR), I will try to explain by stating differences between them SuperTrendRange uses both the ATR (Average True Range) and STDEV (Standard Deviation) as part of its calculations - unlike ST and SAR where they use only ATR Sensitivity of the indicator is adjusted using the multiplier setting of both ATR and STDEV Additionally, unlike ST, the source of the basis of SuperTrendRange can be selected among the assets price value or its moving average Source and Length are adjustable too The SuperTrendRange, like Parabolic SAR indicator, appears on a chart as a series of dots, either above, below or unlike Parabolic SAR both above and below of the asset's price A dot placed - below the price when the market is trending upward - above the price when it is trending downward - both above and below when the price starts moving sideways – this is a feature that both SuperTrend and Parabolic SAR misses, where they are known to produce false signals and losing trades, whereas SuperTrendRange emphasis the zones of the ranges occurring and in most cases are considered no trade recommended zones. Please note that the range width may vary depending on how the market is volatile. It is up to the users to trade if it fits their trading strategies Dots plotted above and below can be assumed as Support and Resistance levels Example usages – with trading opportunities Gold Monthly Chart Bitcoin Daily Chart Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Pine Script™ indicator
by dgtrd
73
Profit Maximizer StrategyFirst I would like to thank to @KivancOzbilgic for developing this indicator. All the credit goes to him. I just created a strategy, in order to try to find the perfect parameters, timeframe and currency for it. I will provide below the same description like he has in the publish of profit maximizer Profit Maximizer - PMax combines the powerful sides of MOST (Moving Average Trend Changer) and SuperTrend (ATR price detection) in one indicator. Backtest and optimization results of PMax are far better when compared to its ancestors MOST and SuperTrend. It reduces the number of false signals in sideways and give more reliable trade signals. PMax is easy to determine the trend and can be used in any type of markets and instruments. It does not repaint. The first parameter in the PMax indicator set by the three parameters is the period/length of ATR. The second Parameter is the Multiplier of ATR which would be useful to set the value of distance from the built in Moving Average. I personally think the most important parameter is the Moving Average Length and type. PMax will be much sensitive to trend movements if Moving Average Length is smaller. And vice versa, will be less sensitive when it is longer. As the period increases it will become less sensitive to little trends and price actions. In this way, your choice of period, will be closely related to which of the sort of trends you are interested in. We are under the effect of the uptrend in cases where the Moving Average is above PMax; conversely under the influence of a downward trend, when the Moving Average is below PMax. Built in Moving Average type defaultly set as EMA but users can choose from 8 different Moving Average types like: SMA : Simple Moving Average EMA : Exponential Movin Average WMA : Weighted Moving Average TMA : Triangular Moving Average VAR : Variable Index Dynamic Moving Average aka VIDYA WWMA : Welles Wilder's Moving Average ZLEMA : Zero Lag Exponential Moving Average TSF : True Strength Force Tip: In sideways VAR would be a good choice You can use PMax default alarms and Buy Sell signals like: 1- BUY when Moving Average crosses above PMax SELL when Moving Average crosses under PMax 2- BUY when prices jumps over PMax line. SELL when prices go under PMax line.
Pine Script™ strategy
by SoftKill21
15
Profit Maximizer PMax Strategy - Long-ShortI developed a different strategy perspective for the Profit Maximizer PMax indicator prepared by Kıvanç Özbilgiç. When you come to the settings section; - You will see 2 options as Straregy Type. You can test the price and pmax intersections as different strategies. - I added the Long-Short option for spot traders to calculate the profitability rate correctly. Spot traders should not choose this option. Here you can set alarms on the original indicator with the parameters you find successful. Türkçe: Kıvanç Özbilgiç tarafından hazırlanan Profit Maximizer PMax indikatör için farklı bir strateji bakış açısı geliştirdim. Ayarlar bölümüne geldiğinizde; - Straregy Type olarak 2 seçenek göreceksiniz. Fiyat kesişimi ve pmax kesişimlerini, farklı stratejiler olarak test edebilirsiniz. - Spot işlem yapanlar için karlılık oranını doğru hesaplayabilmeleri için Long-Short seçeneği ekledim. Spot işlem yapanların bu seçeneği seçmemeleri gerekmektedir. Burada başarılı bulduğunuz parametreler ile orijinal indikatör üzerinde alarmlar kurabilirsiniz.
Pine Script™ strategy
by melihtuna
14
Relative ATRThis script was originally for finding the ATR for Range Bars, by subtracting (close - open) and then taking the moving average. It has been updated to allow the user to select which sources to subtract, and set the period for the moving average. In this script, bars shown above zero indicate that price is increasing and bars shown below zero indicate that price is decreasing. Look for divergences in the output plot. Plotting as columns or area work best for seeing divergence, IMO. It can also be used to monitor ATR on a higher time frame by changing the resolution. WARNING: I am not a licensed financial advisor. This script is intended for entertainment purposes only. It is available publicly, free of charge. Use at your own discretion and risk. Never blindly follow any indicator or strategy, always follow your own Trading Rules. If you like this script, please give it a Thumbs Up and leave a comment. Requests for custom scripts and strategies are welcome.
Pine Script™ indicator
by FXEngineering