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Candlestick Analysis

Swing Reversal IndicatorSwing Reversal Indicator was meant to help identify pivot points on the chart which indicate momentum to buy and sell. The indicator uses 3 main questions to help plot the points: Criteria Did price take out yesterday's high or low? Is today's range bigger than yesterday? (Indicates activity in price) Is the close in the upper/lower portion of the candle? Thus, indicating momentum in that direction This indicator was built to help me find pivot points for directional options trading however can be used for equities and forex swing trading and other strategies. Used in conjunction with a BB extreme can provide good setups. Alerts are available for both the long and the short positions and the indicator will repaint as price moves. The character Plotted can be changed in the settings The size of the candle area can be changed as well if you want to tighten/loosen the trigger points based on the third question above.
Pine Script™ indicator
by karimka
3
CSPDMost Advanced & Accurate CandleStick Pattern Detector Looking All Over of All Markets for All Important Powerful Reversal | Corrective Patterns (25 type) Filtering the Results with Optional Features like Oscillator, Bollinger Bands, Volume Confirmation, Prior and Following Candles Confirmation which are Fully Customizable. With this you can detect: Hammer | Shooting star Inverted Hammer | Hanging Long legged Doji | Dragonfly Doji | Gravestone Doji Bullish tweezers | Bearish tweezers Bullish inside bar | Bearish inside bar Bullish three line strike | Bearish three line strike Bullish engulfing | Bearish engulfing Piercing line | Dark cloud cover Bullish abandoned baby | Bearish abandoned baby Morning star | Evening star Three white soldiers | Three black crows *Bullish kayo | *Bearish kayo Features: Prior and Following candles Confirmation    You can set prior and following candle as basic prerequisites for marking candles as pattern to make sure you are at the top or bottom of the trend. Volume confirmation    You can active volume increasing confirmation for some of pattern with adjustable increase % relative to prior candle | candles. Oscillator Confirmation    Active oscillator confirmation. Select your approved oscillator from list (Stochastic, RSI, StochRSI, MFI, StochMFI) then enter desired value for marking candles as bullish | bearish pattern. Bollinger Bands Confirmation    Active BB confirmation. Configure your Bollinger Bands. Now only see the patterns which reached or crossed from Bands. Also you can enable BB clod to have your BB indicator at the same time. Adjustable Flexibility and Precision    You can set tolerance% for Osc and BB Confirmation - each one separately - for more control. Self-adaptability    The properties of markets change over time, for example the amplitude of fluctuations and the intensity of movements. The script is designed in such a way that you can examine the price history as a benchmark for changes in market properties to adopt determinants. Also you can control those manually. Self-regulatory    The user has the ability to change input factors depending on their point of view. Behind the pattern recognition algorithms, there are relationships and similarities in their appearance that cause them to be influenced by each other. Simultaneously with changing the determining factors of each pattern by you, script automatically adjusts other details in accordance with your changes. Alerts    You can set for type of pattern or each one of pattern have been detected. Fully Costumizable    All of these options can be change and adjust. Note 1.    The patterns are based on extensive study of reference and famous sources and the experience of me and my friends in trading and analysis with price action methods. Note 2.    Due to the Pine limitations in the number of outputs | plots for each script, our attempt has been made to select the best and most important patterns. Note 3.    So far, many scripts have been written in this field, but our experience with all of them and even the build in version was not satisfactory, and this was the initial motivation for making the script. We strive to improve progress and elimination of shortcomings and we will continue to make this better. Note 4.    Through personal experience and based on the principles of market and candlestick psychology, we discovered a new type of pattern and named it as Kayo. kayo is a two candle pattern which formed when:     1.We have a pivot point with prior candles as left bars and following candles as right bar. Pivot candle called as second candle.     2.In a bullish kayo, first candle must closed descending and second candle must closed as ascending. For bearish kayo vise versa.     3.In a bullish kayo, second candle's lower wick must be longer then upper wick.     4. A pattern marked as kayo when its conditions do not correspond to any of the other patterns(include the confirmation that user added), ie it has the last naming priority over the other patterns. Note 5.    When you active confirmation options for patterns like hammer, engulf and etc which they conditions are like kayo in some extent, if they can't pass the confirmation steps, they can be marked as kayo pattern. Note 6.    If you active volume confirmation for Three white soldiers | Three black crows, the confirmation get passed if the volume of forth or third candle increased as value as entered relative to volume EMA3 of 3 candles. Note 7.    In a bullish pattern all highs of following candles MUST be higher than prior highs and all lows of following candles MUST be higher than prior lows. For bearish patterns vise versa. This type of confirmation depends on High and Low NOT close! Gift to price action lovers! Support us with your like and comments. let us know your experience, points and idea to make this better together.
Pine Script™ indicator
by Algorca
38
Fat Fingers studyIt often happens that prices moves to fast below or above the previous price levels. A very large wick up or down the candle are formed then. These wicks are Fat fingers because they are very large in comparison wiith the other wicks. Fat fingers study is a simple but effective way to detect these fat fingers. HOW TO USE: Set the percentage of the wicks for upward movement or downward movement. Note! These values are different for each market. Markets: It can be used to all markets.
Pine Script™ indicator
by Wilson-IV
Aggregate CandlesThis script creates candles based on an aggregated Index price from various exchange tickers. A lot of exchanges have specific flash crash wicks, missing data, erraticness compared to other exchanges particularly in their first few months, this is an attempt to clean up the price history, be it for TA ( trendlines , S/R etc.) or use in algos or other indicators, without reliance on one exchange. It uses the new Array functionality to generate median and averages, and is entirely original work. This particular version is a generic version of the BTC version. Please read the header before use, and if you do wish to use the code, please ask permission first.
Pine Script™ indicator
by rthomson
1
Stock Adjustments: None, Splits, DividendsUtilizes Pine Script's built-in function to display trading data without stock splits or dividends adjustments affecting its price. The three main options are 'none', 'splits', and 'dividends'. 'none' displays the data and stock splits nor dividends affect price. 'splits' accounts for splits without dividends affecting price. 'dividends' accounts for dividends adjustments without splits affecting price. A stock splits calendar may be viewed at NASDAQ's website here: www.nasdaq.com A dividend calendar may be viewed here: www.nasdaq.com
Pine Script™ indicator
by NeoButane
6
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
Doji swing strategyThis is a simple strategy based on Doji star candlestick This strategy is suited for big time frames, like 4h -1Day and so on. It places two orders: long at doji star high or previous candle high and short at doji star low or previous candle low. It can also be applied volume average, in order to filter between trades . This strategy works very well with high time frames like Weekly TF because it eliminates the noise in doji formation. It also has inside a risk management made of SL/TP , or if not prefered it can exit based on a exit condition. If you have any questions, please let me know !
Pine Script™ strategy
by SoftKill21
2
Pinescript v4 - The Holy Grail (Trailing Stop)After studying several other scripts, I believe I have found the Holy Grail! (Or perhaps I've just found a bug with Tradingview's Pinescript v4 language) Anyhow, I'm publishing this script in the hope that someone smarter than myself could shed some light on the fact that adding a trailing stop to any strategy seems to make it miraculously...no that's an understatement...incredulously, stupendously, mind-bendingly profitable. I'm talking about INSANE profit factors, higher than 200x, with drawdowns of <10%. Sounds too good to be true? Maybe it is...or you could hook it up to your LIVE broker, and pray it doesn't explode. This is an upgraded version of my original Pin Bar Strategy. Recommended Chart Settings: Asset Class: Forex Time Frame: H1 Long Entry Conditions: a) Exponential Moving Average Fan up trend b) Presence of a Bullish Pin Bar c) Pin Bar pierces the Exponential Moving Average Fan Short Entry Conditions: a) Exponential Moving Average down trend b) Presence of a Bearish Pin Bar c) Pin Bar pierces the Exponential Moving Average Fan Exit Conditions: a) Trailing stop is hit b) Moving Averages cross-back (optional) c) It's the weekend Default Robot Settings: Equity Risk (%): 3 //how much account balance to risk per trade Stop Loss (x*ATR, Float): 0.5 //stoploss = x * ATR, you can change x Stop Loss Trail Points (Pips): 1 //the magic sauce, not sure how this works Stop Loss Trail Offset (Pips): 1 //the magic sauce, not sure how this works Slow SMA (Period): 50 //slow moving average period Medium EMA (Period): 18 //medium exponential moving average period Fast EMA (Period): 6 //fast exponential moving average period ATR (Period): 14 // average true range period Cancel Entry After X Bars (Period): 3 //cancel the order after x bars not triggered, you can change x Backtest Results (2019 to 2020, H1, Default Settings): AUDUSD - 1604% profit, 239.6 profit factor, 4.9% drawdown (INSANE) NZDUSD - 1688.7% profit, 100.3 profit factor, 2.5% drawdown GBPUSD - 1168.8% profit, 98.7 profit factor, 0% drawdown USDJPY - 900.7% profit, 93.7 profit factor, 4.9% drawdown USDCAD - 819% profit, 31.7 profit factor, 8.1% drawdown EURUSD - 685.6% profit, 26.8 profit factor, 5.9% drawdown USDCHF - 1008% profit, 18.7 profit factor, 8.6% drawdown GBPJPY - 1173.4% profit, 16.1 profit factor, 7.9% drawdown EURAUD - 613.3% profit, 14.4 profit factor, 9.8% drawdown AUDJPY - 1619% profit, 11.26 profit factor, 9.1% drawdown EURJPY - 897.2% profit, 6 profit factor, 13.8% drawdown EURGBP - 608.9% profit, 5.3 profit factor, 9.8% drawdown (NOT TOO SHABBY) As you can clearly see above, this forex robot is projected by the Tradingview backtester to be INSANELY profitable for all common forex pairs. So what was the difference between this strategy and my previous strategies? Check my code and look for "trail_points" and "trail_offset"; you can even look them up in the PineScript v4 documentation. They specify a trailing stop as the exit condition, which automatically closes the trade if price reverses against you. I however suspect that the backtester is not properly calculating intra-bar price movement, and is using a simplified model. With this simplfied approach, the trailing stop code becomes some sort of "holy grail" generator, making every trade entered profitable. Risk Warning: This is a forex trading strategy that involves high risk of equity loss, and backtest performance will not equal future results. You agree to use this script at your own risk. Hint: To get more realistic results, and *maybe* overcome the intrabar simulation error, change the settings to: "Stop Loss Trail Points (pips)": 100 I am not sure if this eradicates the bug, but the entries and exits look more proper, and the profit factors are more believable.
Pine Script™ strategy
by TsangYouJun
77
Pivot Support and Resistance Finder [JV] V1Hi Traders. This is my first attempt of writing an indicator. Let me start by saying I could never have done this without lmatl and WMX_Q_System_Trading who were and are an incredible source of inspiration. This indicator shows horizontal Pivot Support and Resistance . It draws up to 4 horizontal lines extending to the right from and adds labels to High and Low Pivot Candles . It also draws the Support / Resistance that is currently forming. You can select the number of lines on the current timeframe. There are some options in Settings: Current timeframe pivot settings Show and hide levels of the current timeframe Change colors Extend Lines Any suggestions are more than welcome! I also welcome donations, no matter how small ;-)
Pine Script™ indicator
by jurlvarg
16
Aggregate BTC CandlesThis script creates candles based on an aggregated Index price from various BTC exchange tickers. Since the early years in particular have a lot of exchange specific flash crash wicks, missing data, erraticness compared to other exchanges particularly in their first few months, this is an attempt to clean up the price history, be it for TA (trendlines, S/R etc.) or use in algos or other indicators, without reliance on one exchange. It uses the new Array functionality to generate median and averages, and is entirely original work.
Pine Script™ indicator
by rthomson
7
[SCL] Better Heikin AshiTo display the Heikin Ashi candle direction on your normal chart, using this script is better than switching between layouts. It includes different display modes so that you can use it alongside other indicators without clashing visually (bar colour/plotted shapes/shapes on flip only), and alerts on changes in direction. Many scripts include some or other of these features; here I've included them all in one for flexibility. One feature that AFAIK is unique is the "predictive close", which shows you where the current candle needs to close in order to change the Heikin Ashi direction. Heikin Ashi is a different method of calculating candlesticks. It has several advantages: + It can help to show the dominant trend in a smoother way than normal candles. + Flips in direction can show either trend reversal, or a pause and continuation, which can be a place to join a trend. Disadvantages of using Heikin Ashi include: + Having to change to a different chart layout + Difficulties working directly with Heikin Ashi values, because the values of the Open, Low, High, and Close displayed are different to the "real" prices. This indicator solves this problem by bringing trend information from Heikin Ashi candles (whether they're bullish or bearish) onto your normal candle chart. It displays in the main chart pane.
Pine Script™ indicator
by SimpleCryptoLife
8
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