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Bands and Channels

ATR Trend Bands [Misu]█ This indicator shows an upper and lower band based on price action and ATR (Average True Range) The average true range (ATR) is a market volatility indicator used in technical analysis. █ Usages: The purpose of this indicator is to identify changes in trends and price action.  It is mainly used to identify breaking points and trend reversals.  But it can also be used to show resistance or support levels. █ Features: > Buy & Sell Alerts > Buy & Sell Labels > Color Bars > Show Bands █ Parameters: Length: Length is used to calculate ATR. Atr Multiplier: A factor used to balance the impact of the ATR on the Trend Bands calculation.
Pine Script™ indicator
by Fontiramisu
9
Supertrend B&SSuperTrend is one of the most common ATR based trailing stop indicators. In this version you can change the ATR calculation method from the settings. Default method is RMA, when the alternative method is SMA . The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier. The default values used while constructing a superindicator are 10 for average true range or trading period and three for its multiplier. The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility . The buy and sell signals are generated when the indicator starts plotting either on top of the closing price or below the closing price. A buy signal is generated when the ‘Supertrend’ closes above the price and a sell signal is generated when it closes below the closing price. It also suggests that the trend is shifting from descending mode to ascending mode. Contrary to this, when a ‘Supertrend’ closes above the price, it generates a sell signal as the colour of the indicator changes into red. A ‘Supertrend’ indicator can be used on equities, futures or forex, or even crypto markets and also on daily, weekly and hourly charts as well, but generally, it fails in a sideways-moving market.
Pine Script™ indicator
by GTTRADINGIN
OB EmaCross + BBThis is my setup and the way I like to trade. It is based in an EMA cross ( 9 x 21) and the Bollinger Bands without the central Moving Average. I prefer to use the EMA cross in the middle of the bands. It is also possible to activate "Colored Bars" to paint the candles according to the EMA cross: green if the candles are above both EMAs, white when at least one of them are in between EMAs and red if they are both below EMAs. My operational works like this: - Buy when price is above EMAs - Sell when price is belos EMAs Of course, I use BB to give me the direction of the trend and I only enter in a trade when the price is in the same trend of the BB. I avoid trades when the bands are getting narrowed. I hope you enjoy my indicator and let me know if you have any suggestion! ;)
Pine Script™ indicator
by OdirBrasil
3
The Killer Whale - Multiple Keltner Channels by JoeFinally, after centuries of pain and suffering, the good townsfolk of TradingView have been given a single Keltner Channel indicator that will grant them FREE access to MORE THAN ONE Keltner Channel. With "The Killer Whale" indicator, Joe has once again saved all the peasants—those who cannot add 10,000 indicators to our charts—from the dirty tyrants who arrogantly rule over us with disdain. And, now, not only can you have more than one Keltner Channel with this single indicator, but you can have UP TO FOUR! For FREE! Yes, I know, it seems too good to be true. But, install and enjoy your newfound freedom! Options: Keltner Channel length and source Multiplication Factor for each channel SMA or EMA ATR Length Border and fill colors for each channel Now, go, therefore, and Keltner to your heart's content. May The Killer Whale be with your charts forever!
Pine Script™ indicator
by crypto-with-joe
15
Variety N-Tuple Moving Averages w/ Variety Stepping [Loxx]Variety N-Tuple Moving Averages w/ Variety Stepping is a moving average indicator that allows you to create 1- 30 tuple moving average types; i.e., Double-MA, Triple-MA, Quadruple-MA, Quintuple-MA, ... N-tuple-MA. This version contains 2 different moving average types. For example, using "50" as the depth will give you Quinquagintuple Moving Average. If you'd like to find the name of the moving average type you create with the depth input with this indicator, you can find a list of tuples here: Tuples extrapolated Due to the coding required to adapt a moving average to fit into this indicator, additional moving average types will be added as they are created to fit into this unique use case. Since this is a work in process, there will be many future updates of this indicator. For now, you can choose from either EMA or RMA. This indicator is also considered one of the top 10 forex indicators. See details here: forex-station.com Additionally, this indicator is a computationally faster, more streamlined version of the following indicators with the addition of 6 stepping functions and 6 different bands/channels types. STD-Stepped, Variety N-Tuple Moving Averages STD-Stepped, Variety N-Tuple Moving Averages is the standard deviation stepped/filtered indicator of the following indicator Last but not least, a big shoutout to @lejmer for his help in formulating a looping solution for this streamlined version. this indicator is speedy even at 50 orders deep. You can find his scripts here: www.tradingview.com How this works Step 1: Run factorial calculation on the depth value, Step 2: Calculate weights of nested moving averages factorial(depth) / (factorial(depth - k) * factorial(k); where depth is the depth and k is the weight position Examples of coefficient outputs: 6 Depth: 6 15 20 15 6 7 Depth: 7 21 35 35 21 7 8 Depth: 8 28 56 70 56 28 8 9 Depth: 9 36 34 84 126 126 84 36 9 10 Depth: 10 45 120 210 252 210 120 45 10 11 Depth: 11 55 165 330 462 462 330 165 55 11 12 Depth: 12 66 220 495 792 924 792 495 220 66 12 13 Depth: 13 78 286 715 1287 1716 1716 1287 715 286 78 13 Step 3: Apply coefficient to each moving average For QEMA, which is 5 depth EMA , the calculation is as follows ema1 = ta. ema ( src , length) ema2 = ta. ema (ema1, length) ema3 = ta. ema (ema2, length) ema4 = ta. ema (ema3, length) ema5 = ta. ema (ema4, length) In this new streamlined version, these MA calculations are packed into an array inside loop so Pine doesn't have to keep all possible series information in memory. This is handled with the following code: temp = array.get(workarr, k + 1) + alpha * (array.get(workarr, k) - array.get(workarr, k + 1)) array.set(workarr, k + 1, temp) After we pack the array, we apply the coefficients to derive the NTMA: qema = 5 * ema1 - 10 * ema2 + 10 * ema3 - 5 * ema4 + ema5 Stepping calculations First off, you can filter by both price and/or MA output. Both price and MA output can be filtered/stepped in their own way. You'll see two selectors in the input settings. Default is ATR ATR. Here's how stepping works in simple terms: if the price/MA output doesn't move by X deviations, then revert to the price/MA output one bar back. ATR The average true range (ATR) is a technical analysis indicator, introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing the entire range of an asset price for that period. Standard Deviation Standard deviation is a statistic that measures the dispersion of a dataset relative to its mean and is calculated as the square root of the variance. The standard deviation is calculated as the square root of variance by determining each data point's deviation relative to the mean. If the data points are further from the mean, there is a higher deviation within the data set; thus, the more spread out the data, the higher the standard deviation. Adaptive Deviation By definition, the Standard Deviation (STD, also represented by the Greek letter sigma σ or the Latin letter s) is a measure that is used to quantify the amount of variation or dispersion of a set of data values. In technical analysis we usually use it to measure the level of current volatility . Standard Deviation is based on Simple Moving Average calculation for mean value. This version of standard deviation uses the properties of EMA to calculate what can be called a new type of deviation, and since it is based on EMA , we can call it EMA deviation. And added to that, Perry Kaufman's efficiency ratio is used to make it adaptive (since all EMA type calculations are nearly perfect for adapting). The difference when compared to standard is significant--not just because of EMA usage, but the efficiency ratio makes it a "bit more logical" in very volatile market conditions. See how this compares to Standard Devaition here: Adaptive Deviation Median Absolute Deviation The median absolute deviation is a measure of statistical dispersion. Moreover, the MAD is a robust statistic, being more resilient to outliers in a data set than the standard deviation. In the standard deviation, the distances from the mean are squared, so large deviations are weighted more heavily, and thus outliers can heavily influence it. In the MAD, the deviations of a small number of outliers are irrelevant. Because the MAD is a more robust estimator of scale than the sample variance or standard deviation, it works better with distributions without a mean or variance, such as the Cauchy distribution. For this indicator, I used a manual recreation of the quantile function in Pine Script. This is so users have a full inside view into how this is calculated. Efficiency-Ratio Adaptive ATR Average True Range (ATR) is widely used indicator in many occasions for technical analysis . It is calculated as the RMA of true range. This version adds a "twist": it uses Perry Kaufman's Efficiency Ratio to calculate adaptive true range See how this compares to ATR here: ER-Adaptive ATR Mean Absolute Deviation The mean absolute deviation (MAD) is a measure of variability that indicates the average distance between observations and their mean. MAD uses the original units of the data, which simplifies interpretation. Larger values signify that the data points spread out further from the average. Conversely, lower values correspond to data points bunching closer to it. The mean absolute deviation is also known as the mean deviation and average absolute deviation. This definition of the mean absolute deviation sounds similar to the standard deviation (SD). While both measure variability, they have different calculations. In recent years, some proponents of MAD have suggested that it replace the SD as the primary measure because it is a simpler concept that better fits real life. For Pine Coders, this is equivalent of using ta.dev() Bands/Channels See the information above for how bands/channels are calculated. After the one of the above deviations is calculated, the channels are calculated as output +/- deviation * multiplier Signals Green is uptrend, red is downtrend, yellow "L" signal is Long, fuchsia "S" signal is short. Included: Alerts Loxx's Expanded Source Types Bar coloring Signals 6 bands/channels types 6 stepping types Related indicators 3-Pole Super Smoother w/ EMA-Deviation-Corrected Stepping STD-Stepped Fast Cosine Transform Moving Average ATR-Stepped PDF MA
Pine Script™ indicator
by loxx
1
Psychological levels (Bank levels) PsychoLevels v2 - TartigradiaPsychological levels (Bank levels) plots "round" price levels above and below current price, by truncating after the nth leftmost digits, based on neuroscience research of how humans intuitively calculate in logarithms. Psychological levels, also called bank levels, are "round" price numbers around which price often experience resistance or support, because traders and investors tend to set orders around these round numbers. Calculation here is fully automatic and dynamic, contrary to other similar scripts, this one uses a mathematical calculation that extracts the 1, 2 or 3 leftmost digits and calculate the previous and next level by incrementing/decrementing these digits. This means it works for any symbol under any price range. This approach is based on neuroscience research, which found that human brains intuitively approximate numbers on a logarithmic scale, adults and children alike, and similarly to macaques, for more info see Numerical Cognition , Weber-Fechner Law , Zipf law. For example, if price is at 0.0421, the next major price level is 0.05 and medium one is 0.043. For another asset currently priced at 19354, the next and previous major price levels are 20000 and 10000 respectively, and the next/previous medium levels are 20000 and 19000, and the next/previous weak levels are 19400 and 19300. Usage: * By default, strong upper level is in green, strong lower level is in red, medium upper level is in blue, medium lower level is in yellow, and weak levels aren't displayed but can be. Half levels are also displayed, in a darker color. Strong levels are increments of the first leftmost digit (eg, 10000 to 20000), medium levels are increments of the second leftmost digit (eg, 19000 to 20000), and weak levels of the third leftmost digit (eg, 19100 to 19200). Instead of plotting all the psychological levels all at once as a grid, which makes the chart unintelligible, here the levels adapt dynamically around the current price, so that they show the upper/lower levels relatively to the current price. * A simple moving average is implemented, so that "half-levels" are also displayed when relevant (eg, medium level can also display 19500 instead of only 19000 or 20000). This can be disabled by setting smoothing to 1. * By default, the script runs on the daily timeframe, whatever the current chart's timeframe is. This is to reduce the variability in levels, to make it less noisy than intraday price movement, but this can be changed in the settings. * The step can be adjusted to increase the gap between levels, eg, if you want to display one every 2 levels then input step = 2 (eg, 22000, 24000, 26000, etc), or if you want to display quarter levels, input 0.25 (eg, 22000, 22250, 22500, etc). The default values should fit most use cases and cover most psychological levels. I made this script mainly to train with PineScript, but I found it surprisingly accurate to define levels that are respected by price movements. So I guess it can be useful for new traders and experienced traders alike, as it's easy to forget that psychological levels can often be as strong if not stronger than technical levels. It can also be used to quickly screen other minor assets for trading opportunities. For example, a hybrid strategy would be to manually define levels on BTCUSD but using this script to automatically define levels in crypto altcoins and quickly screen them for a trade opportunity that can be greater than with BTCUSD but with the same trend. Changes compared to v1: * Deduplicated redundant calculations and hence faster script. * Added half-step levels, which allows to more easily see breakouts (because the levels are still on-screen). * All steps are now configuration on the GUI. * Revamped color scheme. * And major reasons to post as a separate v2 script rather than updating: because we can't update the original description nor screenshot. I have now read more about the House Rules and saw other scriptmakers, so I am trying to write better descriptions like wizards do, by explaining not only how the script works but what the underlying financial concept is to a neophyte audience.
Pine Script™ indicator
by tartigradia
3
StDev BandsThis is a "bands"-type indicator. It was developed out of my Sharpe Ratio indicator . It uses the standard deviation of returns as basis for drawing the bands. I'm going to update this indicator as the other indicator evolves. Please be sure you know how to calculate Sharpe Ratio and check out the Sharpe Ratio indicator as well. This will help you understand the purpose of this indicator a bit more. As a very short introduction. Many investors use the standard deviation of returns as risk measurement . I admit the defaults of this indicator aren't perfect. Normally investors use the standard deviation over a 1 year period. Traditional finance uses 265 days, and because crypto never sleeps, we could use 365. I defaulted it to 20.
Pine Script™ indicator
by Zettt
Psychological levels (Bank levels) by tartigradiaPsychological levels (Bank levels) plots the price levels by truncating after the nth leftmost digits, as it appears the humain brain tends to intuitively calculate in log/zipf. Contrary to other similar scripts, this one uses a mathematical calculation that extracts the 1, 2 or 3 leftmost digits and calculate the previous and next level by incrementing/decrementing these digits. This means it works for any asset at any price range. For example, if price is at 0.0421, the next major price level is 0.05 and medium one is 0.043. For another asset currently priced at 19354, the next and previous major price levels are 20000 and 10000 respectively, and the next/previous medium levels are 20000 and 19000, and the next/previous weak levels are 19400 and 19300. By default, strong upper level is in green, strong lower level is in red, medium upper level is in blue, medium lower level is in yellow, and weak levels aren't displayed but can be. Strong levels are increments of the first leftmost digit (eg, 10000 to 20000), medium levels are increments of the second leftmost digit (eg, 19000 to 20000), and weak levels of the third leftmost digit (eg, 19100 to 19200). Instead of plotting all the psychological levels all at once as a grid, which makes the chart unintelligible, here the levels adapt dynamically around the current price, so that they show the upper/lower levels relatively to the current price. A simple moving average is implemented, so that "half-levels" are also displayed when relevant (eg, medium level can also display 19500 instead of only 19000 or 20000). This can be disabled by setting smoothing to 1. I made this script mainly to train with PineScript, but I guess it can be useful for new traders, as it's easy to forget that psychological levels can often be as strong if not stronger than technical levels.
Pine Script™ indicator
by tartigradia
2
Candlestick Channels [LuxAlgo]Candlestick Channels return channels whose extremities converge towards the price when a corresponding candlestick pattern is detected. This allows for us to obtain more reactive extremities in the presence of a cluster of candlestick patterns. The detected candlestick patterns are also highlighted with labels on your chart automatically. Settings Trend Length: Period of the stochastic oscillator used to determine trend sentiment; this sentiment is used to detect certain candlestick patterns. Convergence: Convergence percentage of the channel extremities used during the occurrence of a candlestick pattern. A lower value will return extremities converging more slowly toward the price. Smooth: Determines the degree of smoothness of the channel extremities. Patterns This category determines which patterns are detected by the indicator. Patterns toggled off will not be detected and won't affect the channels. Usage Candlesticks patterns are commonly used by traders to detect potential reversals or continuation periods in the price. It can be of interest to use them as core elements in the calculation of more classical indicators, this can allow us to filter out potential false signals returned by candlestick patterns by shifting the source of interpretation towards the channel extremities instead. In this indicator extremities converge towards the price when a corresponding pattern is detected. As such bullish patterns will make the upper extremity converge towards the price, facilitating a cross with price. Using a lower convergence percentage will require a greater number of patterns to make the extremity converge closer towards the price. Users can use the channel like most indicators returning extremities, with an uptrend being detected when price cross over the upper extremity and a downtrend being detected when price cross under the lower extremity. An approach solely making use of crosses between the price and the average line can be used but the user should expect further whipsaws signals. Users can eventually use the candlestick patterns as entries and use the extremities for confirmation. For example, users can follow a candlestick pattern return an indication in accordance with the detected trend by the channels. This approach would lead to the following of bullish patterns when they occur in an uptrend, that is when the price is above the average line (in orange). The same logic applies to bearish patterns. The chart above highlights the candlesticks patterns in accordance with a detected trend. Notes - Bullish/Bearish engulfing patterns are turned off by default due their more frequent appearance. - Candlestick patterns relying on gaps were not included, since they would be more uncommon in cryptocurrencies, thus leading to a disparity between the indicator performance on the cryptocurrency and stock market.
Pine Script™ indicator
by LuxAlgo
25
ETS Price Deviation Reversal AreasThis indicator tracks the degree to which price moves away from an average and triggers potential direction changes based on standard deviation levels. The reason I created this script is because I wanted to see how far price moved away from the moving average in a more clearly defined way than just saying "wow, price is pretty far away from the 9 EMA..." or whichever moving average you were looking at. Typically when price moves "too far" away from the moving averages, it corrects itself, I think mainly because a lot of people say "wow, price is pretty far away from the 9 EMA..." and then enter a trade. This indicator tries to make it easier to see when that switches around, which could indicate that price will be reversing. Of course the indicator is not a silver bullet, but I have found it pretty useful and I hope that you do too! It also tries to avoid giving signals when prices are in a very small range. When the deviation bars contract, the indicator switches to only signal "breakout" type moves to try and limit whipsaw signals. The smaller dots are spots that could indicate a potentially early reversal, and the larger dots show up a bit later when the reversal is a bit more established. There are also alerts that you can use if you want. Change this code as you want to, but please let the community know and send me a message if you found something to share! Thanks!
Pine Script™ indicator
by EasyTradingSignals
4
MTF Fair Value Gap Indicator ULTRAFVG Fair Value Gap Indicator FVG's commonly known as Fair Value Gaps are mostly in use for forex trading, however it’s been widely used in price action trading, even on regular large cap stocks. Think of it as an imbalance area where the price of the stock may actually be under/over valued due to many orders being injected in a short amount of time, ie . a gap caused by an impulse created by the speed of the price movement. In essence, the FVG can become a kind of magnet drawing the price back to that level to attempt to balance out the orders (when? we don't know). Please do research to understand the concept of FVG's. You can look for an opportunity as price approaches the FVG for entry either long/short because after all, it is an "Area of Interest" so the price will either bounce or blow through the area. No indicator works 100% of the time so take in context as just another indicator. It tends work on larger time frames best. IMPORTANT TV RELATED LIMITATIONS: You should take the time to understand the following. A MAXIMUM of 500 boxes and labels are allowed, thus if you elect to display many different time frames of FVGs and/or select to not auto delete old Daily FVGs, the oldest FVGs will be deleted and not be seen. Additionally if you are on a smaller chart time frame (1 min), you may not see older FVGs such as Daily ones that occurred and still exist from long ago. This is due to TV limitation of 20,000 candles of history in each chart timeframe. Example: A 1 minute chart supports approximately 14 days worth of data so looking for Daily FVGs would only go back that far, whereas if your chart was set to 5 minutes you'd be able to see 5 times as many, ie . 60 days worth of Daily FVG's. Obviously setting your chart and looking for Daily FVG's would support up to 20,000 days worth. The Indicator Provides many different features: *Creation of FVG's for all hours or just during market hours. Currently you can enable FVG’s for the following timeframes: Current chart timeframe, 5Min, 10Min, 15Min, 1Hr, 4Hr, 8Hr, Daily, Weekly, Monthly. *Text label displays overlaying FVG bands including creation timestamps. * Bands reflecting FVG's in action (created/deleted) for the current chart time frame, 15min, 1hr, 4hr, 8hr and daily time frames. The FVG's will be overlayed on the chart if enabled. *Mitigation Action - Normal - When FVG is balanced out by price action, the FVG will disappear. Dynamic - The FVG band will decrease as the price movement eats into it thus only showing the remaining imbalance. None - For those that wish to retain FVG's even if they were mitigated. Half - FVG’s disappear when the price intrudes 50% of the overall FVG band zone. *Mitigation Type - The elimination or balancing of the FVG is caused by either the candle wick or body passing completely through the FVG. *Maximum FVGs - A maximum number of FVGs are created for each different enabled time frame (be aware setting a large number could impact system performance). *All FVG band colors can be customized by the user. * All FVG bands auto extend to the right. * Intrusion Alerts - Trading View alerts are supported. You can use the indicator settings to enable an alert if the price intrudes into the FVG zone by a certain percentage. This is not related to mitigation or removal of the FVG, just a warning that price has reached the area of interest.
Pine Script™ indicator
by PapaAlan
150
[blackcat] L3 Swing Trading ZonesLevel 3 Background For swing trading, I consider a combination of multiple technical indicators to indicate periods of long and short positions. Function First, judge the daily-level long and short recommendations by the J value of the KDJ indicator in the weekly cycle. in addition. Second, draw bull-bear lines by integrating existing technical indicators such as rsi, adx, cci, dmi, etc. The bull line is above 0, the bear line is below 0, and the other is offsetting each other. When both are relatively close to the zero axis, it means that the strength is equal, and there will be signs of sideways. Remarks "D" timeframe ONLY. Feedbacks are appreciated.
Pine Script™ indicator
by blackcat1402
Weighted percentile nearest rank oscillatorOriginal script This is my attempt at making a price oscillator out of gorx1's weighted percentile nearest rank script. I centered everything to the 50th percentile and everything oscillates around that. The upper and lower bounds are 100th and 0th. Normalization normalizes the data to the top and bottom lines. The 'center line' represents the momentum of the 50th percentile in either direction. Good luck and happy hunting.
Pine Script™ indicator
by The_Peaceful_Lizard
3
Improved Z-Score OverlayLast month I published an improved z-score script that goes underneath your chart, which helps to highlight overbought or oversold regimes. It is customizable, and allows changing the periods, whether smoothing capability is desired, whether to use simple or exponential moving averages, and which data source to use (open, high, low, close, ohlc4). Some individuals may find that it is most useful not only to have the z-score visible underneath their price chart, but have the sigma values clearly visible on the chart itself to determine overbought or oversold levels. Therefore, this improved z-score overlay script will place the centerline of price on the chart, and +3/+2/+1/0/-1/-2/-3 sigma. These can be disabled if some values do not want to be shown, and the colors / opacity can be changed. Additionally, you could also put this into a new pane below your chart and disable all of the +3 to -3 sigma values, and enable the "Z-Score" button. This will allow you to replicate the original Improved Z-Score Script. If anyone has questions or would like to have any improvements made, let me know :) - Jim Bosse
Pine Script™ indicator
by jlb05013
Kase Peak Oscillator w/ Divergences [Loxx]Kase Peak Oscillator is unique among first derivative or "rate-of-change" indicators in that it statistically evaluates over fifty trend lengths and automatically adapts to both cycle length and volatility. In addition, it replaces the crude linear mathematics of old with logarithmic and exponential models that better reflect the true nature of the market. Kase Peak Oscillator is unique in that it can be applied across multiple time frames and different commodities. As a hybrid indicator, the Peak Oscillator also generates a trend signal via the crossing of the histogram through the zero line. In addition, the red/green histogram line indicates when the oscillator has reached an extreme condition. When the oscillator reaches this peak and then turns, it means that most of the time the market will turn either at the present extreme, or (more likely) at the following extreme. This is both a reversal and breakout/breakdown indicator. Crosses above/below zero line can be used for breakouts/breakdowns, while the thick green/red bars can be used to detect reversals The indicator consists of three indicators: The PeakOscillator itself is rendered as a gray histogram. Max is a red/green solid line within the histogram signifying a market extreme. Yellow line is max peak value of two (by default, you can change this with the deviations input settings) standard deviations of the Peak Oscillator value White line is the min peak value of two (by default, you can change this with the deviations input settings) standard deviations of the PeakOscillator value The PeakOscillator is used two ways: Divergence: Kase Peak Oscillator may be used to generate traditional divergence signals. The difference between it and traditional divergence indicators lies in its accuracy. PeakOut: The second use is to look for a Peak Out. A Peak Out occurs when the histogram breaks beyond the PeakOut line and then pulls back. A Peak Out through the maximum line will be displayed magenta. A Peak Out, which only extends through the Peak Min line is called a local Peak Out, and is less significant than a normal Peak Out signal. These local Peak Outs are to be relied upon more heavily during sideways or corrective markets. Peak Outs may be based on either the maximum line or the minimum line. Maximum Peak Outs, however, are rarer and thus more significant than minimum Peak Outs. The magnitude of the price move may be greater following the maximum Peak Out, but the likelihood of the break in trend is essentially the same. Thus, our research indicates that we should react equally to a Peak Out in a trendy market and a Peak Min in a choppy or corrective market. Included: Bar coloring Alerts
Pine Script™ indicator
by loxx
6
Round Numbers and Quarter LevelsThis script is based on "Round Numbers Above and Below" by BitcoinJesus-Not-Roger-Ver, but unlike this script that only shows "Round Numbers" levels, my script also shows "Quarter Number" levels like 25 and 75 that are very important for those who follow the quarters theory. Also the original script doesn't have different colors for different levels while my script has different colors and different styles for every level, this way it will be much easyer to recognize the levels at first sight. Finally the origianl script only works with Forex while my script also works with indexes like SP500 and others. Round Numbers are very important psychological levels in trading but also quarters levels (25 and 75) have a huge importance, so I created this script that shows all these levels with different colors and different lines style. You can edit the color and the style of the lines as you wish and you can add all the levels you want. In 1 hour chart 4 levels is usually enough but if you watch a daily chart then 8 levels is way better. Features: Personalize color to 00 round levels Personalize color to 50 round levels Personalize color to Quarters levels Personalize line style to 00 round levels Personalize line style to 50 round levels Personalize line style to Quarters levels Choose number of lines above and below price level (4 is default)
Pine Script™ indicator
by bluebeardit
7