SMA with ATR BandsSMA with ATR Bands
This custom indicator combines the Simple Moving Average (SMA) with Average True Range (ATR) bands. It’s designed to help traders identify potential price reversals and gauge volatility. Here’s what it does:
Simple Moving Average (SMA):
The SMA represents the average price over a specified period.
It acts as a trend-following line, smoothing out price fluctuations.
The blue line on the chart represents the SMA.
ATR Bands:
The ATR measures volatility by calculating the average range between high and low prices.
We add and subtract the ATR (multiplied by a user-defined factor) from the SMA to create the bands.
The green upper band and red lower band dynamically adjust based on volatility.
How to Use It:
Volatility Signals: When the bands are close together (a “squeeze”), it indicates low volatility. A breakout often follows.
Overbought/Oversold: Price touching the upper band suggests overbought conditions, while touching the lower band suggests oversold conditions.
Trend Confirmation: The indicator can confirm trends.
Feel free to use this indicator on TradingView to enhance your trading strategy. Remember to customize the parameters according to your preferences. Happy trading! 📈🚀
Bands and Channels
Heikin Ashi and Optimized Trend Tracker and PVSRA [Erebor]Heikin Ashi Candles
Let's consider a modification to the traditional “Heikin Ashi Candles” where we introduce a new parameter: the period of calculation. The traditional HA candles are derived from the open , high low , and close prices of the underlying asset.
Now, let's introduce a new parameter, period, which will determine how many periods are considered in the calculation of the HA candles. This period parameter will affect the smoothing and responsiveness of the resulting candles.
In this modification, instead of considering just the current period, we're averaging or aggregating the prices over a specified number of periods . This will result in candles that reflect a longer-term trend or sentiment, depending on the chosen period value.
For example, if period is set to 1, it would essentially be the same as traditional Heikin Ashi candles. However, if period is set to a higher value, say 5, each candle will represent the average price movement over the last 5 periods, providing a smoother representation of the trend but potentially with delayed signals compared to lower period values.
Traders can adjust the period parameter based on their trading style, the timeframe they're analyzing, and the level of smoothing or responsiveness they prefer in their candlestick patterns.
Optimized Trend Tracker
The "Optimized Trend Tracker" is a proprietary trading indicator developed by TradingView user ANIL ÖZEKŞİ. It is designed to identify and track trends in financial markets efficiently. The indicator attempts to smooth out price fluctuations and provide clear signals for trend direction.
The Optimized Trend Tracker uses a combination of moving averages and adaptive filters to detect trends. It aims to reduce lag and noise typically associated with traditional moving averages, thereby providing more timely and accurate signals.
Some of the key features and applications of the OTT include:
• Trend Identification: The indicator helps traders identify the direction of the prevailing trend in a market. It distinguishes between uptrends, downtrends, and sideways consolidations.
• Entry and Exit Signals: The OTT generates buy and sell signals based on crossovers and direction changes of the trend. Traders can use these signals to time their entries and exits in the market.
• Trend Strength: It also provides insights into the strength of the trend by analyzing the slope and momentum of price movements. This information can help traders assess the conviction behind the trend and adjust their trading strategies accordingly.
• Filter Noise: By employing adaptive filters, the indicator aims to filter out market noise and false signals, thereby enhancing the reliability of trend identification.
• Customization: Traders can customize the parameters of the OTT to suit their specific trading preferences and market conditions. This flexibility allows for adaptation to different timeframes and asset classes.
Overall, the OTT can be a valuable tool for traders seeking to capitalize on trending market conditions while minimizing false signals and noise. However, like any trading indicator, it is essential to combine its signals with other forms of analysis and risk management strategies for optimal results. Additionally, traders should thoroughly back-test the indicator and practice using it in a demo environment before applying it to live trading.
PVSRA (Price, Volume, S&R Analysis)
“PVSRA” (Price, Volume, S&R Analysis) is a trading methodology and indicator that combines the analysis of price action, volume, and support/resistance levels to identify potential trading opportunities in financial markets. It is based on the idea that price movements are influenced by the interplay between supply and demand, and analyzing these factors together can provide valuable insights into market dynamics.
Here's a breakdown of the components of PVSRA:
• Price Action Analysis: PVSRA focuses on analyzing price movements and patterns on price charts, such as candlestick patterns, trendlines, chart patterns (like head and shoulders, triangles, etc.), and other price-based indicators. Traders using PVSRA pay close attention to how price behaves at key support and resistance levels and look for patterns that indicate potential shifts in market sentiment.
• Volume Analysis: Volume is an essential component of PVSRA. Traders monitor changes in trading volume to gauge the strength or weakness of price movements. An increase in volume during a price move suggests strong participation and conviction from market participants, reinforcing the validity of the price action. Conversely, low volume during price moves may indicate lack of conviction and potential reversals.
• Support and Resistance (S&R) Analysis: PVSRA incorporates the identification and analysis of support and resistance levels on price charts. Support levels represent areas where buying interest is expected to be strong enough to prevent further price declines, while resistance levels represent areas where selling interest may prevent further price advances. These levels are often identified using historical price data, trendlines, moving averages, pivot points, and other technical analysis tools.
The PVSRA methodology combines these three elements to generate trading signals and make trading decisions. Traders using PVSRA typically look for confluence between price action, volume, and support/resistance levels to confirm trade entries and exits. For example, a bullish reversal signal may be considered stronger if it occurs at a significant support level with increasing volume.
It's important to note that PVSRA is more of a trading approach or methodology rather than a specific indicator with predefined rules. Traders may customize their analysis based on their preferences and trading style, incorporating additional technical indicators or filters as needed. As with any trading strategy, risk management and proper trade execution are essential components of successful trading with PVSRA.
The following types of moving average have been included: "SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA", "HMA", "KAMA", "LSMA", "TRAMA", "VAR", "DEMA", "ZLEMA", "TSF", "WWMA". Thanks to the authors.
Thank you for your indicator “Optimized Trend Tracker”. © kivancozbilgic
Thank you for your indicator “PVSRA Volume Suite”. © creengrack
Thank you for your programming language, indicators and strategies. © TradingView
Kind regards.
© Erebor_GIT
Deck@r True Range IndexThis Pine Script calculates the True Range Index (TRI) using ATR and Fib Levels and uses the result to generate buy and sell signals based on certain conditions.
Here's a breakdown of the code:
Inputs:
atr_period: Determines the period for calculating the Average True Range (ATR), preferred setting at 14.
atr_multiplier: Multiplier used to set the width of the ATR bands preferred setting at 1.
Calculations:
atr_value: Calculates the Average True Range (ATR) using the input period.
upper_band: Calculates the upper band of the ATR bands using a Simple Moving Average (SMA) of the close price plus the ATR multiplied by the multiplier.
lower_band: Calculates the lower band of the ATR bands using a Simple Moving Average (SMA) of the close price minus the ATR multiplied by the multiplier.
midline_75 and midline_25: Calculate midlines at Fibonacci retracement levels of 0.75 and 0.25, respectively, between the upper and lower bands.
Plotting:
Plots the upper and lower bands of the ATR bands.
Optionally plots midlines for the ATR bands (commented out in the code).
Buy and Sell Conditions:
buy_condition: Defines a condition for a buy signal, which occurs when the close price is above the midline at the Fibonacci retracement level of 0.25.
sell_condition: Defines a condition for a sell signal, which occurs when the close price is below the midline at the Fibonacci retracement level of 0.75.
Candle Color:
Sets the candle color based on the buy and sell conditions.
Buy and Sell Signals:
buy_signal: Checks for a buy signal when the close price crosses above the midline at the Fibonacci retracement level of 0.25.
sell_signal: Checks for a sell signal when the close price crosses below the midline at the Fibonacci retracement level of 0.75.
Plots buy and sell signals on the chart.
Sector ETFs performance overviewThe indicator provides a nuanced view of sector performance through ETF analysis, focusing on long-term price trends and deviations from these trends to gauge relative strength or weakness. It utilizes a methodical approach to smooth out ETF price data and then applies a regression analysis to pinpoint the primary trend direction. By examining how far the current price deviates from this regression line, the indicator identifies potential overbought or oversold conditions within various sectors.
Core Analysis Techniques:
Logarithmic Transformation and Regression: This process transforms ETF closing prices on a logarithmic scale to better understand sector growth patterns and dynamics. A linear regression of these prices helps define the overarching trend, crucial for understanding market movements.
Volatility Bands for Market State Assessment: The indicator calculates standard deviation based on logarithmic prices to establish dynamic bands around the regression line. These bands are instrumental in identifying market states, highlighting when sectors may be overextended from their central trend.
Sector-Specific Analysis: By focusing on distinct sector ETFs, the tool enables targeted analysis across various market segments. This specificity allows for a granular look at sectors like technology, healthcare, and financials, providing insights tailored to each area.
Adaptability and Insight:
Customizable Parameters: The indicator offers users the ability to adjust key parameters such as regression length and smoothing factors. This customization ensures that the analysis can be tailored to individual preferences and market outlooks.
Trend Direction and Momentum: It assesses the ETF's price movement relative to historical data and the established volatility bands, helping to clarify the sector's trend strength and potential directional shifts.
Strategic Application:
Focusing on trend and volatility analysis rather than direct trading signals, the indicator aids in forming a strategic view of sector investments. It's particularly useful for:
Spotting macroeconomic trends through the lens of sector ETF performance.
Informing portfolio decisions with nuanced insights into sector momentum and market conditions.
Anticipating potential market shifts by evaluating how current prices align with historical volatility and trend patterns.
This tool stands out as a vital resource for analyzing sector-level market trends, offering detailed insights into the dynamics of economic sectors for comprehensive market analysis.
POC IndicatorThis simplified Point of Control (POC) indicator for TradingView is designed to identify and plot the price level where the highest volume of trading occurred over a specified period. The script works as follows:
Input and Initialization: The user specifies a length for the analysis period. Variables highestVolPrice and highestVol are initialized to track the price with the highest volume and the highest volume encountered, respectively.
Volume Analysis Loop: For each bar in the specified period (up to length bars back from the current bar), the script compares the volume of the current bar (volume ) to highestVol. If the current bar's volume is higher, highestVol and highestVolPrice are updated to reflect the volume and closing price of the current bar.
Plotting the POC: Instead of using a horizontal line (hline), which cannot be dynamically updated within the loop, the script uses plot to draw the POC. This plotting function draws a line on the chart that represents the closing price level associated with the highest volume observed within the analysis period.
Resetting Variables: To ensure the indicator updates correctly with each new bar, the script resets highestVol and highestVolPrice at the start of the analysis for each new period. This step is designed to recalculate the POC dynamically as new data comes in.
This approach offers a basic method for visualizing significant price levels where substantial trading activity occurred, potentially indicating areas of strong support or resistance. However, it's a simplified model and does not calculate the true POC based on a detailed volume profile across all price levels within the period.
Foxy's Logarithmic Bollinger BandsThis versatile indicator plots logarithmic Bollinger Bands on any financial asset or timeframe in the TradingView platform. Unlike traditional Bollinger Bands, which use simple arithmetic calculations, Foxy's LBB employs logarithmic scales to better capture and visualize percentage-based price movements.
The core functionality includes:
Basis Line: A central moving average line calculated on the log10 of the selected price source (default is close price). Multiple moving average types are available, including SMA, EMA, RMA, and volume-weighted variants.
Upper/Lower Bands 1: The first set of upper and lower bands, plotted at a user-defined number of standard deviations (default 2.0) above and below the Basis Line.
Upper/Lower Bands 2: A second set of bands plotted at a different standard deviation level (default 3.0) to cater to different volatility preferences.
Offset: An option to vertically offset the plotted lines for better visualization alongside other indicators or studies.
By using a logarithmic scale, Foxy's LBB provides a more accurate representation of percentage-based price changes, making it particularly useful for analyzing and trading volatile assets or markets with significant price swings.
Traders can leverage this indicator for various purposes, such as identifying potential overbought/oversold conditions, gauging volatility levels, and spotting trend continuations or reversals based on the interaction between price and the band levels.
Whether you're a seasoned trader or just starting, Foxy's LBB offers a powerful and flexible tool to enhance your technical analysis and decision-making process in the TradingView environment.
RWEDT Weighted Moving Average Overview:
The RWEDT MA, which is short for rolling, weighted, exponential, double exponential, and triple exponential, is a group of moving averages that were subjected to a log transformation to deal with the skewness of price, and the weight of each of these moving averages was also used for calculating the standard deviations from the mean.
Clearing a misunderstanding on Standard Deviation Bands and Moving Averages
Bands, such as standard deviation bands, are frequently misinterpreted as indicators of support and resistance levels or as "mean-reverting" indicators." However, this is not their intended purpose. Bands are statistical tools that provide ranges within which price (in this case) movements are expected to occur based on historical data. Deviations beyond these bands suggest a decrease in confidence in the model rather than a reversal back to a moving average or a "support/resistance level."
Example : Assuming you correctly applied a log transformation to your standard deviation bands to remove the right skew, and assuming your data closely resembles a normal distribution or some other type of symmetrical distribution, then the probability of a value being in the 2 standard deviation range is around 95%. This does not mean it will reject or go up, or mean revert. The price won't bounce from -2 STDEV 95% of the time; that is incorrect. It just tells you that around 95% of the values will be within the 2 SD range.
Moving averages, including the ones in this indicator, are often misinterpreted as signals of trend reversals or levels of "bouncing." What moving averages actually tell you is what the expected value is. It does not show where you expect the price to be in the future; it tells you that based on the lookback, the expected value is in the center, and the confidence you have in the estimate is the confidence interval or the standard deviation range.
Example: Let's say you enter a trade with a positive expected value (expecting the price to drift up), and we have the limits set at 95%. What it tells you is that as long as the price stays within the limits, you can be 95% certain the model isn't completely random. As the price moves further away from the average, or expected value, it tells you that the model is less likely to be correct.
RWEDT MA
This indicator comes with 5 moving averages, each log transformed to reduce the skewness and asymmetry of price as much as possible
Rolling
Weighted
Exponential
Double Exponential
Triple Exponential
The band standard deviation can be adjusted, and the standard deviations have the weight of all of the moving averages that are present in the indicator. The weight is not customizable.
Why this indicator is useful:
This indicator can tell you what the expected value is. Above the moving average signifies a positive expected value, and below the moving average signifies a negative expected value. As previously stated above, the price moving further from the expected value lets you know that you should have less confidence that the model is "correct," and you could see this as taking profits as the price deviates further from the expected value.
The importance of log-transforming prices for standard deviations and moving averages.
Symmetry: Logarithmic transformations can help achieve symmetry in the distribution of price data. Stock prices, for example, exhibit some type of right-skewed distribution, where large positive price movements are more common than large negative movements. Price also can't go below 0 but can go towards positive infinity, so having a right-skew makes sense; all the outliers will be towards infinity, while all the average occurrences are "near" 0.
Stabilizing Variance: Price data typically exhibit heteroscedasticity, meaning that the variance of price movements changes over time. Log transformations can stabilize the variance and make it more consistent across different price levels. This is important for ensuring that the variability in price moves is not disproportionately influenced by extreme values.
Statistical Assumptions: Many retail indicators like Bollinger Bands use the standard deviation and moving average models of a normal distribution to attempt to model price, whose distribution more closely resembles some type of right-skew distribution. Even with the log-transformation, it still won't always resemble a perfect symmetrical distribution, and you still should not use it for mean reversion. You can still use it to understand the expected value and whether or not you should have confidence in your model.
Range PercentageRange Percentage is a simple indicator utility to clearly display and dynamically alert on where a chosen series falls between two bounds, either series themselves or constant values.
To set up, select between series or value for upper and lower bounds. Only the chosen options will be used by the indicator, though you may enter the non-selected option. Configure the thresholds if you wish to use them for visual display or alerting. If you only care about the background color, disable both thresholds and the percentage line and move the indicator into the main pane.
Some sample use cases:
Coloring background on a zoomed-in chart to show to show price change relative to the entire value of an asset, not just the range selected on the y-axis
Get alerts which adjust dynamically as price approaches another series or dynamic value
Determine at a glance where a price falls between your identified support/resistance lines, no matter where you zoom or scroll
Compare relative gain of two assets
Identify trends of a price closing closer to low or high over time
This indicator is often most useful in conjunction with other indicators which produce a plotted series output and can save a lot of time thinking or interpreting. Its usefulness to a trader depends entirely on the rationale for choosing a lower/upper bound and sample series that are meaningful to that trader.
Breaker Blocks Screener | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Breaker Blocks Screener! This screener can provide information about the latest breaker blocks in up to 5 tickers. You can also customize the algorithm that finds the breaker blocks and the styling of the screener.
Features of the new Breaker Blocks Screener :
Find Latest Breaker Blocks Accross 5 Tickers
Latest Status, Restests & Volume
Customizable Algoritm / Styling
📌 HOW DOES IT WORK ?
Breaker blocks form when an order block fails, or "breaks". It is often associated with market going in the opposite direction of the broken order block, and they can be spotted by following order blocks and finding the point they get broken, ie. price goes below a bullish order block.
The volume of a breaker block is simply the total volume of the bar that the original order block is broken. Often the higher the breaking bar's volume, the stronger the breaker block is.
This screener then finds breaker blocks accross 5 different tickers, and shows the latest information about them.
Status ->
Far -> The current price is far away from the breaker block.
Approaching ⬆️/⬇️ -> The current price is approaching the breaker block, and the direction it's approaching from.
Inside -> The price is currently inside the breaker block.
Retests -> Retest means the price to invalidate the breaker block, but failed to do so. Here you can see how many times the price retested the breaker block.
For the volume, check the top of the "How Does It Work" section.
🚩UNIQUENESS
This screener can detect latest breaker blocks and give information about them for up to 5 tickers. This saves the user time by showing them all in a dashboard at the same time. The screener shows the number of the retests of the breaker block as an unique trait. Another unique ability of the screener is that it shows the latest valid breaker block's volume in the dashboard.
⚙️SETTINGS
1. Tickers
You can set up to 5 tickers for the screener to scan breaker blocks here. You can also enable / disable them and set their individual timeframes.
2. General Configuration
Zone Invalidations -> Select between Wick & Close price for Order & Breaker Block Invalidation.
Swing Length -> Swing length is used when finding order block formations. Smaller values will result in finding smaller order blocks.
BabyShark VWAP Strategy What the code does:
This Pine Script implements a trading strategy based on two indicators: Volume Weighted Average Price (VWAP) and On Balance Volume (OBV) Relative Strength Index (RSI). The strategy aims to identify potential buy and sell signals based on deviations from VWAP and OBV RSI crossing certain threshold levels.
How it does it:
**VWAP Calculation**: The script calculates the VWAP using either standard deviation or average deviation over a specified length. It then plots the VWAP and its upper and lower deviation bands.
**OBV RSI Calculation**: It computes the OBV and then calculates the RSI using the cumulative changes in OBV. The RSI is plotted and compared against predefined levels.
**Table Visibility and Occurrence Counting**: It allows the user to display a table showing the number of occurrences where the price is above Upper Dev 2, below Lower Dev 2, crosses above a higher RSI level, or crosses below a lower RSI level.
**Entries**: Long and short entry conditions are defined based on the position of the price relative to the VWAP deviation bands and the color of the OBV RSI. Entries are made when specific conditions are met, and there hasn't been a recent entry.
**Exit Conditions**: The script includes stop-loss and take-profit mechanisms. It exits positions based on price crossing the VWAP or a certain percentage, and it prevents further trading after a certain number of consecutive losses.
What traders can use it for:
**Trend Identification**: Traders can use the VWAP and its deviation bands to identify potential trend reversals or continuations.
**Volume Confirmation**: The inclusion of OBV RSI provides confirmation of price movements based on volume changes.
**Entry and Exit Signals**: The script generates buy and sell signals based on the specified conditions, allowing traders to enter and exit positions with defined stop-loss and take-profit levels.
**Statistical Analysis**: The visibility of occurrence counts in the table allows traders to perform statistical analysis on the frequency of price movements relative to the VWAP and OBV RSI levels.
Support and Resistance ZoneSupport and Resistance Zone Indicator :
Introduction :
The purpose of this indicator is to identify the chart symbol's main supports and resistances. It displays these key zones, which are very important psychological points for traders. Since support and resistance are not very precise levels, the indicator displays them as zones.
Pivots :
Pivots are a key concept in identifying support and resistance. The indicator uses two types of pivot:
Pivot high : This is a high point that has not been reached by a user-defined number of candles on either the left and right of this candle. The " left pivot leg " is the number of candles before this pivot point that have not reached the realized high, and the " right pivot leg " is the number of candles after this pivot point that have not reached this high. If these two conditions are met, the pivot point is considered a turning point, and resistance is probably the cause.
Pivot low : This is a low point that has not been reached by a user-defined number of candles on either the left or right. The " left pivot leg " is the number of candles before this pivot point that have not reached the candle low, and the " right pivot leg " is the number of candles after this pivot point that have not reached this low. If these two conditions are met, the pivot point is considered a turning point, and support is probably the cause.
Support/Resistance area :
If a pivot point has been identified, the indicator considers it a resistance if it's a pivot high, or a support if it's a pivot low. To define the support or resistance zone, we'll use the ATR (Average True Range), an indicator that measures asset volatility. We'll take the ATR of the candle for which the pivot was spotted, and use it as the width of the support or resistance zone. Thus the upper line of support/resistance is at pivot+atr/2 and the lower line is at pivot-atr/2 . The greater the volatility, the larger the zone.
New Support/Resistance :
If a new pivot has been identified, but the level of this pivot lies between the lower line and the upper line of the previous support or resistance, the indicator considers this to be the same support or resistance as before. In this case, no new support or resistance is created. The pivot must be outside the area of the previous support or resistance to be validated.
Anticipated Support/Resistance :
This indicator also allows early detection of support or resistance. To do this, the value of the right pivot legs will be shortened in order to find these areas more quickly. The support or resistance will then be considered anticipated and may disappear at any time if the high/low is reached. On the other hand, if the high/low is not reached, and a number of candles equal to the " Right Pivot Legs" parameter has elapsed since the detection of this anticipated support/resistance, it will be considered validated and will integrate the other supports/resistances of the chart.
Extended supports/resistances :
For a more optimal view, the indicator allows the user to choose the number of last support or resistance levels to be extended to the last candle. This must be specified in the indicator parameters.
Parameters :
Pivot Legs : Determine the left and right legs of the pivot i.e the number of candle before and after the pivot that doesn’t reach pivot point. The pivot is validated only if this two conditions are verified.
Extend Last Supports : Number of supports to extend to the last bar
Extend Last Resistances : Number of resistances to extend to the last bar
Show Support/Resistance Anticipated : If yes, will find anticipated support and resistance
Right Pivot Legs for Anticipation : Determine the right legs of pivots to find faster a support or a resistance.
Conclusion :
This indicator plot support and resistance zones based on pivot. The width of support and resistance zones are calculated with ATR. Possibility to find anticipated support and resistance in order to have more timeliness informations.
Enjoy the indicator and don’t forget to take the trade ;)
Peak and Trough Tracker by Mustafa KAPUZPeak and Trough Tracker
This indicator identifies the highest and lowest prices reached in two user-defined time periods. It then draws two lines connecting these peak and trough points. The purple line represents the connection between the highest prices, while the aqua line represents the relationship between the lowest prices. Both lines extend into the future and past, providing insights into potential support and resistance levels.
How to Use:
Add the indicator to your chart.
Enter two time periods.
Analyze the lines connecting peak and trough points.
This tool helps visually understand the market's key turning points and adjust your investment strategy based on these insights.
Zirve ve Dip Noktaları İzleyici
Bu indikatör, kullanıcı tarafından belirlenen iki zaman periyodunda piyasanın ulaştığı en yüksek ve en düşük fiyatları tespit eder. Ardından, bu zirve ve dip noktalarını birleştiren iki çizgi çizer. Mor çizgi, en yüksek fiyatlar arasındaki bağlantıyı gösterirken; aqua çizgi, en düşük fiyatlar arasındaki ilişkiyi temsil eder. Her iki çizgi de geleceğe ve geçmişe doğru uzanarak, potansiyel destek ve direnç seviyeleri hakkında fikir verir.
Kullanımı:
İndikatörü grafik üzerine ekleyin.
İki zaman periyodu girin.
Zirve ve dip noktalarını birleştiren çizgilerin analizini yapın.
Bu araç, piyasanın önemli dönüm noktalarını görsel olarak anlamanıza ve yatırım stratejinizi bu bilgilere göre ayarlamanıza yardımcı olur.
Previous Day High and LowPlots previous and the day before days' high and low for all days, not just today.
AWR_WaveTrend Multitimeframe [adapted from LazyBear]I've adapted a script from Lazy Bear (WT trend oscillator)
WaveTrend Oscillator is a port of a famous TS/MT indicator.
When the oscillator (WT1 designed as a line) is above the overbought band (50 to 60) and crosses down the WT2 (dotted line), it is usually a good SELL signal. Similarly, when the oscillator crosses above the signal when below the Oversold band ( (-50 to -60)), it is a good BUY signal.
In this indicator, you can display at the same time, different time frames.
Choice possible are 1 mn, 15 mn, 30 mn, 60 mn, 120 mn, 240 mn, 1D, Week, Month.
Small time frames (1 to 30 mn) are represented by a blue lines (light to dark)
1H is in grey
2H & 4H are in purple (light to dark)
1D is in green
1W is in orange
1M is in black
You can choose which timeframes you want to display for the current period or for the last period closed.
In a few seconds, you perfectly see the selected timeframes trends.
There is also at the bottom right a table summing up all the different values of WT1, WT2 and difference between them.
Positive difference means an upside trend
Negative difference means a downside trend.
Another way of using this indicator is displaying only the difference between WT1 & WT2. It's giving the speed & the direction of all trends. Trends are our friends ...
You can observe the significent times frames and look if they are all positives or negatives or if the speed of lower timeframe cross a longer timeframe of if the speed is decreasing or increasing...
Difference values goes generaly from -20 to 20 (it can exceed a bit but really rare). 12 is already high level of speed.
Many uses possible.
In the exemple posted, I've selected WT1 and WT2 for timeframes 4H, Daily & Weekly.
Marker 1:
Orange lines (WT1) are far below - 50 (-67 here) and cross WT2 pointed lines : weekly buy signal
But this buy signal is balanced by 4H & Daily sell signal = it's marking start of hesitations of main trend !!!!
Marker 2 :
Next buy signal in 4H or daily would normaly confirm the start
Marker 3 :
Sell signal in 4H and daily but weekly has an upside trend ! Start of a counter trend in the trend. To find the perfect timing of that you have to look to lower time frames, because 4H and daily are giving many hesitations signals crossing down & crossing up many times in an overbought zone.
Marker 4 :
End of the counter trend. Most of the time, the countertrend don't go in the "over" zone. That's why if you trading in an counter trend, you have to keep it in mind.
Then a few days later you can see the sell signal. And what a sell signal ! 4H & daily are smashed down really fastly ! Trends change warning !
Marker 5
Long hesitation/change of the trend. Daily WT and 4H are below the weekly trends. Weekly start to go down.
Start of a counter trend inside the trend giving us the best selling signal at her end !
Marker 6 :
Long hesitation/change of the trend.
You have to look in lower time frames to identify the short trend. Difficult to find the best timing to get in. ....
I've add many alerts. When a time frame become positive or negative. When many time frames are positive or negative or above or below 47 level...
Please feel free to explore.
Hope it will help you.
Thanks to Lazybear ! Thousands thanks to Lazybear !
Exemple with difference
EMA Cross RSI Filter [EPS]The "EMA Cross RSI Filter " is a technical analysis tool that combines the power of Exponential Moving Averages (EMAs) with the Relative Strength Index (RSI) to provide clear buy and sell signals on financial charts. Utilizing the dynamic interaction between a fast and a medium EMA, it identifies potential trend reversals. This is further refined by the RSI which filters signals based on momentum, with a custom threshold to pinpoint optimal entry and exit points.
🔹 KEY FEATURES
Dynamic EMA Crossover: Detects potential market turns with a fast EMA crossing a medium EMA.
Momentum-Filtered RSI: Enhances signal reliability by incorporating momentum data from the RSI.
Trend-Following Confirmation: Ensures trades are in harmony with the broader market direction by considering the long-term EMA.
Adaptable Parameters: Empowers traders to tailor EMA periods and RSI thresholds to their unique trading blueprint.
🔹 TRADING APPLICATION
Buy Indications: Presented when the fast EMA ascends above the medium EMA while the asset's price surpasses the long-term EMA, and the RSI exceeds the established long level.
Sell Projections: Emerge when the fast EMA descends below the medium EMA, combined with the asset's price dropping beneath the long-term EMA and the RSI falling short of the prescribed short level.
Custom Visibility: Offers the flexibility to display or conceal EMA lines for a streamlined chart analysis experience.
🔹 STRATEGIC INTEGRATION
This analytical tool is optimized for traders who prioritize a disciplined methodology in market entry and exit, bolstered by the validation of trend direction and momentum agreement.
Capital Management Synergy: You can seamlessly integrate these signals with your personal risk management strategy, enhancing the effectiveness of your trades.
Stop-Loss and Take-Profit: It's advisable to set stop-loss orders at the previous swing low for buys, or swing high for sells. For take-profit levels, a Risk to Reward ratio of 1 to 1.5 or a preferred measure can be employed to systematically secure gains.
🔶 APPROACH
This tool caters to both trend-following and breakout strategies. It's designed for traders who want a systematic approach to enter and exit the market with the added confidence of trend and momentum confirmation.
🔹 NOTE
Indicator does not repaint.
Optimal for various timeframes and trading instruments.
Best used in trending markets for higher reliability.
🔶 SETUP
EMA Lengths: Fast (9), Medium (21), Long (200).
RSI Settings: Length (14), Long Threshold (50), Short Threshold (35).
Display Options: Show or hide EMA lines.
By adhering to the principle that no single indicator should dictate a trade, this tool is best used in conjunction with other analyses to confirm signals.
[KG] FCPO Spread*** Released Version 79 ***
------ INTRODUCTION ------
Spread trading where a trader buys one futures contract and sells another contract simultaneously.
Spread trading is popular because it is less risky when compared to outright futures trading. And since it is less risky, spread trading tends to have lower margin requirements.
------ DESCRIPTION ------
This indicator, FCPO Spread, is calculating the spread value of 2 FUTURE CONTRACTS and construct new candles based on Open, Close, High and Low of 2 contracts.
Moving Average were drawn based on spread value.
There's Spread Information at BOTTOM right of the chart which contain the following info.
Spread Contract Timeframe
Future Contracts Symbols for Spread calculation
Close = Spread/Difference of the 2 contracts.
Long Risk = Differences of Current level to SUPPORT
Short Risk = Differences of Current level to RESISTANT
------ ICONS ------
🚀 triggered when Bullish MA lineup, i.e Fast MA is above Slow MA (Default MA period 5,9,13,20).
L ONG is TURTLE Buy signal when spread closes above Turtle Resistant.
💥triggers when Bearish MA lineup i.e Fast MA is below Slow MA (Default MA period 20,13,9,5)..
S HORT is TURTLE Sell signal when spread closes below Turtle Support
Note : Closing price varies depend on chooses timeframe
------ USAGE ------
LONG when L signal appear.
L signal will appear when the spread breaks and closing above Turtle Resistant .
Turtle Resistant is calculated based on previous N candles high where N value (Default 5) is configurable in the setting.
It is better to LONG during uptrend i.e Bullish MA Lineup (represented by 🚀 icon)
SHORT when S signal appear.
S signal will appear when the spread breaks and closing below Turtle Support .
Turtle Support is calculated based on previous N candles low where N value (Default 5) is configurable in the setting.
It is better to SHORT during downtrend i.e BEARISH MA Lineup (represented by 💥 icon)
ATR Bands with Optional Risk/Reward Colors█ OVERVIEW
This indicator projects ATR bands and, optionally, colors them based on a risk/reward advantage for those who trade breakouts/breakdowns using moving averages as partial or full exit points.
█ DEFINITIONS
► True Range
The True Range is a measure of the volatility of a financial asset and is defined as the maximum difference among one of the following values:
- The high of the current period minus the low of the current period.
- The absolute value of the high of the current period minus the closing price of the previous period.
- The absolute value of the low of the current period minus the closing price of the previous period.
► Average True Range
The Average True Range was developed by J. Welles Wilder Jr. and was introduced in his 1978 book titled "New Concepts in Technical Trading Systems". It is calculated as an average of the true range values over a certain number of periods (usually 14) and is commonly used to measure volatility and set stop-loss and profit targets (1).
For example, if you are looking at a daily chart and you want to calculate the 14-day ATR, you would take the True Range of the previous 14 days, calculate their average, and this would be the ATR for that day. The process is then repeated every day to obtain a series of ATR values over time.
The ATR can be smoothed using different methods, such as the Simple Moving Average (SMA), the Exponential Moving Average (EMA), or others, depending on the user's preferences or analysis needs.
► ATR Bands
The ATR bands are created by adding or subtracting the ATR from a reference point (usually the closing price). This process generates bands around the central point that expand and contract based on market volatility, allowing traders to assess dynamic support and resistance levels and to adapt their trading strategies to current market conditions.
█ INDICATOR
► ATR Bands
The indicator provides all the essential parameters for calculating the ATR: period length, time frame, smoothing method, and multiplier.
It is then possible to choose the reference point from which to create the bands. The most commonly used reference points are Open, High, Low, and Close, but you can also choose the commonly used candle averages: HL2, HLC3, HLCC4, OHLC4. Among these, there is also a less common "OC2", which represents the average of the candle body. Additionally, two parameters have been specifically created for this indicator: Open/Close and High/Low.
With the "Open/Close" parameter, the upper band is calculated from the higher value between Open and Close, while the lower one is calculated from the lower value between Open and Close. In the case of bullish candles, therefore, the Close value is taken as the starting point for the upper band and the Open value for the lower one; conversely, in bearish candles, the Open value is used for the upper band and the Close value for the lower band. This setting can be useful for precautionally generating broader bands when trading with candlesticks like hammers or inverted hammers.
The "High/Low" parameter calculates the upper band starting from the High and the lower band starting from the Low. Among all the available options, this one allows drawing the widest bands.
Other possible options to improve the drawing of ATR bands, aligning them with the price action, are:
• Doji Smoothing: When the current candle is a doji (having the same Open and Close price), the bands assume the values they had on the previous candle. This can be useful to avoid steep fluctuations of the bands themselves.
• Extend to High/Low: Extends the bands to the High or Low values when they exceed the value of the band.
• Round Last Cent: Expands the upper band by one cent if the price ends with x.x9, and the lower band if the price ends with x.x1. This function only works when the asset's tick is 0.01.
► Risk/Reward Advantage
The indicator optionally colors the ATR bands after setting a breakpoint, one or two risk/reward ratios, and a series of moving averages. This function allows you to know in advance whether entering a trade can provide an advantage over the risk. The band is colored when the ratio between the distance from the break point to the band and the distance from the break point to the first available moving average reaches at least the set ratio value. It is possible to set two colorings, one for a minimum risk/reward ratio and one for an optimal risk/reward ratio.
The break point can be chosen between High/Low (High in case of breakout, Low in case of breakdown) or Open/Close (on breakouts, Close with bullish candles or Open with bearish candles; on breakdowns, Close with bearish candles or Open with bullish candles).
It is possible to choose up to 10 moving averages of various types, including the VWAP with the Anchor Period (2).
Depending on the "Price to MA" setting, the bands can be individually or simultaneously colored.
By selecting "Single Direction," the risk/reward calculation is performed only when all moving averages are above or below the break point, resulting in only one band being colored at a time. For this reason, when the break point is in between the moving averages, the calculation is not executed. This setting can be useful for strategies involving price movement from a level towards a series of specific moving averages (for example, in reversals starting from a certain level towards the VWAP with possible partial take profits on some previous moving averages, or simply in trend following towards one or more moving averages).
Choosing "Both Directions" the risk/reward ratio is calculated based on the first available moving averages both above and below the price. This setting is useful for those who operate in range bound markets or simply take advantage of movements between moving averages.
█ NOTE
This script may not be suitable for scalping strategies that require immediate entries due to the inability to know the ATR of a candle in advance until its closure. Once the candle is closed, you should have time to place a stop or stop-limit order, so your strategy should not anticipate an immediate start with the next candle. Even more conveniently, if your strategy involves an entry on a pullback, you can place a limit order at the breakout level.
(1) www.tradingview.com
(2) For convenience, the code for the Anchor Period has been entirely copied from the VWAP code provided by TradingView.
Chop Zone 2X [EPS]This indicator, like the one shared previously Chop Zone
The Chop Zone script transforms traditional market trend analysis by leveraging the power of Exponential Moving Averages (EMAs) and their angles. Designed to identify market trends with a higher degree of accuracy, this script offers traders an innovative approach to detect uptrends, downtrends, and neutral market phases.
🔶 USAGE
Snapshot:
The indicator's core functionality revolves around the calculation of the EMA angle, providing a visual representation of market trends through color-coded columns:
Green Columns: Indicate an uptrend, suggesting bullish market conditions.
Red Columns: Signal a downtrend, highlighting bearish market conditions.
Transparent Columns: Represent neutral market conditions, indicating no significant trend.
The angle of the EMA is calculated over a user-defined period, adapting to different trading strategies and timeframes for a customized analysis.
🔶 DETAILS
At the heart of the Chop Zone is its unique angle calculation method. By assessing the slope of the EMA, the script quantifies the strength and direction of the market trend. This calculation is further refined by considering the highest highs and lowest lows over a specified period, making the indicator adaptable to varying market volatilities.
EMA Angle Limits:
Uptrend Threshold: User-defined angle for identifying uptrends.
Downtrend Threshold: User-defined angle for recognizing downtrends.
The script also allows for extensive customization, including the selection of the source data for EMA calculations and the length of the EMA, thereby catering to diverse trading preferences.
🔶 SETTINGS
Source: Choose between close, open, high, low, etc., for the EMA calculation.
EMA Length: Define the length of the EMA for trend analysis.
EMA Angle Thresholds: Set the upper and lower angle limits to categorize market trends.
Color Settings: Customize the colors for uptrend, downtrend, and neutral trends for easy visualization.
🔹 Note
The Chop Zone indicator is not just a tool for trend identification; it's a comprehensive system for understanding market dynamics. The unique angle calculation offers a fresh perspective on EMA analysis, making it a valuable addition to any trader's toolkit. However, users should integrate this indicator into their broader trading strategy, considering other market factors and indicators for optimal decision-making.
Chop Zone [EPS]The Chop Zone script transforms traditional market trend analysis by leveraging the power of Exponential Moving Averages (EMAs) and their angles. Designed to identify market trends with a higher degree of accuracy, this script offers traders an innovative approach to detect uptrends, downtrends, and neutral market phases.
🔶 USAGE
The indicator's core functionality revolves around the calculation of the EMA angle, providing a visual representation of market trends through color-coded columns:
Green Columns: Indicate an uptrend, suggesting bullish market conditions.
Red Columns: Signal a downtrend, highlighting bearish market conditions.
Transparent Columns: Represent neutral market conditions, indicating no significant trend.
The angle of the EMA is calculated over a user-defined period, adapting to different trading strategies and timeframes for a customized analysis.
🔶 DETAILS
At the heart of the Chop Zone is its unique angle calculation method. By assessing the slope of the EMA, the script quantifies the strength and direction of the market trend. This calculation is further refined by considering the highest highs and lowest lows over a specified period, making the indicator adaptable to varying market volatilities.
EMA Angle Limits:
Uptrend Threshold: User-defined angle for identifying uptrends.
Downtrend Threshold: User-defined angle for recognizing downtrends.
The script also allows for extensive customization, including the selection of the source data for EMA calculations and the length of the EMA, thereby catering to diverse trading preferences.
🔶 SETTINGS
Source: Choose between close, open, high, low, etc., for the EMA calculation.
EMA Length: Define the length of the EMA for trend analysis.
EMA Angle Thresholds: Set the upper and lower angle limits to categorize market trends.
Color Settings: Customize the colors for uptrend, downtrend, and neutral trends for easy visualization.
🔹 Note
The Chop Zone indicator is not just a tool for trend identification; it's a comprehensive system for understanding market dynamics. The unique angle calculation offers a fresh perspective on EMA analysis, making it a valuable addition to any trader's toolkit. However, users should integrate this indicator into their broader trading strategy, considering other market factors and indicators for optimal decision-making.
Trailing Support and Resistance Zones
This Script code is used to plot support and resistance levels on a chart. Here's how it works:
Input Parameters: The code starts by defining an input parameter lookback_period, which determines the number of bars to look back when calculating support and resistance levels. You can adjust this parameter based on your preferences or trading strategy. I recommend 50 for longer trends and larger profits.
Calculate Support and Resistance Levels: The calculateSR() function is defined to calculate the support and resistance levels based on the lowest low and highest high prices within the specified lookback period. It uses the ta.lowest() function to find the lowest low price and the ta.highest() function to find the highest high price over the specified number of bars.
Plotting: The function calculateSR() is called to compute the support and resistance levels, and the results are stored in the variables support_level and resistance_level, respectively. These levels are then plotted on the chart using the plot() function. The support levels are plotted in green, while the resistance levels are plotted in red. Both lines are drawn with a specified line width and style (plot.style_stepline).
By visualizing these support and resistance levels on the chart, you can identify potential price levels where the market might find buying or selling pressure. These levels are crucial for making trading decisions, such as setting entry and exit points, defining stop-loss and take-profit levels, and assessing the overall market sentiment.
I recommend using this indicator together with my morning & Evening Star Indicator to find entry zones.
arpit bollinger bandStrategy Overview:
This strategy utilizes Bollinger Bands based on a 20-period Exponential Moving Average (EMA) with a standard deviation multiplier of 1.5. It is designed to generate early trading signals based on the relationship between the price action and the Bollinger Bands.
Bollinger Bands Calculation:
The upper Bollinger Band is calculated as the 20-period EMA of the closing prices plus 1.5 times the standard deviation of the same period.
The lower Bollinger Band is calculated as the 20-period EMA of the closing prices minus 1.5 times the standard deviation.
Entry Criteria:
Buy Signal: A buy signal is generated when the current candle's high exceeds the high of the candle two periods ago, which had closed below the lower Bollinger Band. This condition implies an anticipation of a bullish reversal.
Sell Signal: A sell signal is generated when the current candle's low falls below the low of the candle two periods ago, which had closed above the upper Bollinger Band. This condition suggests an anticipated bearish reversal.
Stop Loss and Take Profit:
The stop loss for a buy order is set slightly below the low of the current candle, and for a sell order, it is set slightly above the high of the current candle.
The take profit level is determined based on a predefined risk-reward ratio of 1:3. This means the take profit target is set at a distance three times greater than the distance between the entry price and the stop loss.
Risk Management:
The strategy includes an input option to adjust the risk-reward ratio, allowing for flexibility in managing the trade's potential risk versus reward.
Trade Execution:
The strategy automatically plots the buy and sell signals on the chart and executes the trades according to the defined conditions. It also visually indicates the stop loss levels for each trade.
Usage Notes:
This strategy is designed for use in the TradingView platform using Pine Script version 5.
It is important to backtest and paper trade the strategy before using it in live trading to understand its performance characteristics and risk profile.
The strategy should be used as part of a comprehensive trading plan, considering market conditions, trader risk tolerance, and personal trading goals.
Normal Weighted Average PriceIntroducing the "Normal Weighted Average Price" (NWAP) by OmegaTools. This innovative script refines the traditional concept of VWAP by eliminating volume from the equation, offering a unique perspective on price movements and market trends.
The NWAP script is meticulously crafted to provide traders with a straightforward yet powerful tool for analyzing price action. By focusing solely on price data, the NWAP offers a clear, volume-independent view of the market's average price, augmented with bands that denote varying levels of price deviation.
Key Features:
NWAP Core: At the heart of this script is the Normal Weighted Average Price line, offering a pure, volume-excluded average price over your chosen timeframe.
Dynamic Bands: Includes upper and lower bands, plus extreme levels, calculated using the standard deviation from the NWAP. These bands help identify potential overbought and oversold conditions.
Customizable Timeframe: Whether you're a day trader or a long-term investor, the NWAP script allows you to set your preferred analysis period, ensuring relevance to your trading strategy.
Bands Width Adjustment: Tailor the width of the deviation bands with a simple multiplier to fit your risk tolerance and trading style.
Visual Zones: The script visually demarcates premium and discount zones between the bands, aiding in quick assessment of market conditions.
Usage Tips:
Ideal for traders seeking a volume-neutral method to gauge market sentiment and potential reversal points.
Use the NWAP and its bands to refine entry and exit points, especially in markets where volume data may be less reliable or skewed.
Combine with other technical indicators for a comprehensive trading strategy.
Turtle Trading Strategy@lihexieThe full implementation of the Turtle Trading Rules (as distinct from the various truncated versions circulating within the community) is now ready.
This trading strategy script distinguishes itself from all currently publicly available Turtle trading systems on Tradingview by comprehensively embodying the rules for entries, exits, position management, and profit and loss controls.
Market Selection:
Trade in highly liquid markets such as forex, commodity futures, and stock index futures.
Entry Strategies:
Model 1: Buy when the price breaks above the highest point of the last 20 trading days; Sell when the price drops below the lowest point of the last 20 trading days. When an entry opportunity arises, if the previous trade was profitable, skip the current breakout opportunity and refrain from entering.
Model 2: Buy when the price breaks above the highest point of the last 55 trading days; Sell when the price drops below the lowest point of the last 55 trading days.
Position Sizing:
Determine the size of each position based on the price volatility (ATR) to ensure that the risk of each trade does not exceed 2% of the account balance.
Exit Strategies:
1. Use a fixed stop-loss point to limit losses: Close long positions when the price falls below the lowest point of the last 10 trading days.
2. Trailing stop-loss: Once a position is profitable, adjust the stop-loss point to protect profits.
Pyramiding Rules:
Unit Doubling: Increase position size by one unit every time the price moves forward by n (default is 0.5) units of ATR, up to a maximum of 4 units, while also raising the stop-loss point to below the ATR value at the level of additional entries.
海龟交易法则的完整实现（区别于当前社区各种有阉割海龟交易系统代码）
本策略脚本区别于Tradingview目前公开的所有的海龟交易系统，完整的实现了海龟交易法则中入场、出场、仓位管理，止盈止损的规则。
市场选择：
选择流动性高的市场进行交易，如外汇、商品期货和股指期货等。
入市策略：
模式1：当价格突破过去20个交易日的高点时，买入；当价格跌破过去20个交易日的低点时，卖出。当出现入场机会时，如果上一笔交易是盈利的，那么跳过当前突破的机会，不进行入场。
模式2：当价格突破过去55个交易日的高点时，买入；当价格跌破过去55个交易日的低点时，卖出。
头寸规模：
根据价格波动性（ATR）来确定每个头寸的大小, 使每笔交易的风险不超过账户余额的2%。
退出策略：
1. 使用一个固定的止损点来限制损失：当多头头寸的价格跌破过去10个交易日的低点时，平仓止损。
2. 跟踪止损：一旦头寸盈利，移动止损点以保护利润。
加仓规则：
单位加倍：每当价格向前n（默认是0.5）个单位的ATR移动时，就增加一个单位的头寸大小（默认最大头寸数量是4个），同时将止损点提升至加仓点位的ATR值以下。
