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Candlestick analysis

MathsTrade Nifty Option StrikeOption Type and Strike Price Selection: 1.Calls: In-the-money (ITM): If the strike price is below the current market price. Provides intrinsic value and is less risky. Out-of-the-money (OTM): If the strike price is above the current market price. Provides a leverage play with lower premiums. At-the-money (ATM): Strike price is equal to the underlying asset’s market price, offering a balance of cost and potential reward. Puts: In-the-money (ITM): The strike price is above the current market price. Higher premiums but higher chances of profitability. Out-of-the-money (OTM): The strike price is below the current market price, cheaper with greater risk but also higher reward potential if the market moves significantly. 2. Consider the Bid-Ask Spread: Narrower bid-ask spreads are generally a sign of better liquidity, making it easier to enter and exit trades at favorable prices. Avoid options with wide bid-ask spreads as they can lead to higher transaction costs and slippage. 3. Liquidity and Open Interest: Look for Liquidity: Higher open interest and volume generally mean that the option has better liquidity, ensuring you can enter or exit trades more efficiently. Strike Selection: Ensure there is adequate open interest at the selected strike price. Too little open interest can make it harder to exit a trade. Conclusion: Selecting the right strike price depends on your market outlook, time frame, risk tolerance, and the volatility of the underlying asset. A careful evaluation of these factors will help you choose an optimal strike price and increase the probability of success in your options trades. Always make sure to balance the risk/reward profile of the chosen strike with the capital you're willing to invest.
Pine Script™ indicator
by victory6
MERCURY™ by DrAbhiramSivprasad **MERCURY™ by Dr. Abhiram Sivprasad** - The Intraday trader Mercury™ **MERCURY™ by Dr. Abhiram Sivprasad** is a comprehensive technical indicator that combines pivot points, CPR (Central Pivot Range), multiple EMA crossovers, and VWAP with configurable bands. This versatile indicator helps traders identify potential support and resistance levels on various timeframes (Daily) and includes visual alerts for significant EMA crossovers. It’s especially useful for momentum traders and those seeking to trade breakouts and reversals with clearly defined support and resistance levels. ### Features 1. **Central Pivot Range (CPR)**: Tracks the central pivot, top central, and bottom central pivots. Daily pivot lines provide important levels for potential support and resistance. 2. **Support and Resistance Levels**: Three support (S1, S2, S3) and three resistance (R1, R2, R3) levels are calculated based on the pivot and can be toggled on/off. 3. **Exponential Moving Averages (EMAs)**: Includes up to nine customizable EMAs with visual crossover alerts, bar color change, and an EMA dashboard that shows price positioning relative to each EMA. 4. **VWAP with Standard Deviation and Percentage Bands**: VWAP with optional upper and lower bands that are either based on a standard deviation or a percentage distance from the VWAP. ### Usage #### Example Strategy This indicator provides signals primarily for trend-following and reversal strategies: 1. **Trend Continuation**: - **Buy Signal**: When the price crosses above both EMA1 and EMA2 and holds above the daily CPR level, a bullish trend continuation is confirmed. - **Sell Signal**: When the price crosses below both EMA1 and EMA2 and holds below the daily CPR level, a bearish trend continuation is confirmed. 2. **Reversal at Pivot Levels**: - If the price approaches a resistance (R1, R2, or R3) from below with an uptrend and then begins to cross under EMA1 or EMA2, it may signal a bearish reversal. - If the price approaches a support (S1, S2, or S3) from above in a downtrend and then crosses above EMA1 or EMA2, it may signal a bullish reversal. #### Example Setup - **Long Entry**: - When the price crosses above the daily pivot point and closes above both EMA1 and EMA2. - Hold the position if the price remains above the VWAP band and monitor for any EMA crossunder as an exit signal. - **Short Entry**: - When the price drops below the daily pivot and both EMA1 and EMA2 cross under the price. - Consider covering the position if the price breaks above the VWAP band or if a crossover of EMA1 and EMA2 occurs. ### Alerts Alerts are customizable based on EMA1 & EMA2 crossovers to notify the trader of potential trend shifts.
Pine Script™ indicator
by abiramsivprasad
Multi-Timeframe Strategy with Pivots. 1m trend follow breakouts.This is a basic script that shows bullish and bearish pivots above or below the aligning moving averages. It also give an entry indicator when price taps, or crosses a moving average before moving past the corresponding pivot. This is a personal strategy that in my findings has shown around a 60% win rate when aligned with higher timeframe trend, and high volume times of entry. This indicator needs refinement, but it is as close as I can get using Ai coding, since I don't know how to code. If you stumble across this indicator/ strategy and have refinement suggestions, let me know! Thanks. Happy Trading!
Pine Script™ indicator
by Hyder521
Volume to Candle Size Ratio - UpdatedBased on the script from but with some added features (more to come) (don't mind that the screen shot above has 3 of the same indicator....I was testing/debugging when it took and published the screen shot) What's new: - Works across all time frames, not just the 5 minute - Added a moving average line - Added alerts so that you don't have to watch the charts Soon to come: - Add levels/zones to be shown on the chart and used with the indicator. The indicator will alert you when a volume/price ratio candle approaches your levels (would also be useful for automated backtesting) - Using the volume profile and the indicator to automate finding levels/zones for you
Pine Script™ indicator
by yareally
Enhanced MY SCRIPT Trend Confirmation (is_uptrend and is_downtrend): The script now checks that all short-term MAs are consistently above (for an uptrend) or below (for a downtrend) the long-term MAs, strengthening the trend confirmation before generating signals. ATR Volatility Filter: The ATR filter ensures that buy/sell signals are only triggered when volatility is above a certain threshold (adjusted by atr_threshold). This filter helps avoid signals in low-volatility periods. Signal Refined with GMMA Confluence: The crossover and crossunder of the short and long MAs are combined with GMMA confluence (all short-term MAs above or below long-term MAs) for more accurate buy/sell points.
Pine Script™ indicator
by gidstone2014
5-Minute YEN Pivot Bars 1.0The 5-Minute YEN Pivot Bars indicator is designed to identify and highlight low-range pivot bars on 5-minute charts, specifically tailored for Yen-based pairs (e.g., GBPJPY, USDJPY). By focusing on precise pip thresholds, this tool helps traders detect potential pivot points within specific trading sessions, while avoiding inside bars and other noise often seen in low-volatility conditions. This can be particularly useful for trend traders and those looking to refine their entry points based on intraday reversals. Key Features: - Customized Pip Thresholds for Yen Pairs: The indicator is pre-configured for Yen pairs, where 1 pip is typically represented by 0.01. It applies these thresholds: - Limited Range: 4 pips or less between open and close prices. - High/Low Directionality: At least 3 pips from the close/open to the bar's high or low. - Open/Close Proximity: 4 pips or less between open and close. - Inside Bar Tolerance: A tolerance of 3 pips for inside bars, helping reduce false signals from bars contained within the previous bar's range. - Session-Specific Alerts: - The indicator allows you to enable alerts for the European Session (6:00-12:00), American Session (12:00-17:00), and London Close (17:00-20:00). You can adjust these times based on your own trading hours or timezone preferences via a time-shift setting. - Receive real-time alerts when a valid bullish or bearish pivot bar is identified within the chosen sessions, allowing you to respond to potential trade opportunities immediately. - Time Shift Customization: - Adjust the "Time Shift" parameter to account for different time zones, ensuring accurate session alignment regardless of your local time. How It Works: 1. Pivot Bar Identification: The indicator scans for bars where the difference between the open and close is within the "Limited Range" threshold, and both open and close prices are close to either the high or the low of the bar. 2. Directional Filtering: It requires the bar to show strong directional bias by enforcing an additional distance between the open/close levels and the opposite end of the bar (high/low). Only bars with this directional structure are considered for highlighting. 3. Exclusion of Inside Bars: Bars that are completely contained within the range of the previous bar are excluded (inside bars), as are consecutive inside bars. This filtering is essential to avoid marking bars that typically indicate consolidation rather than potential pivot points. 4. Session Alerts: When a valid pivot bar appears within the selected sessions, an alert is triggered, notifying the trader of a potential trading signal. Bullish and bearish signals are differentiated based on whether the close is near the high or low. How to Use: - Trend Reversals: Use this indicator to spot potential trend reversals or pullbacks on a 5-minute chart, especially within key trading sessions. - Entry and Exit Points: Highlighted bars can serve as potential entry points for traders looking to capitalize on short-term directional changes or continuation patterns. - Combine with Other Indicators: Consider pairing this tool with momentum indicators or trendlines to confirm the signals, providing a comprehensive analysis framework. Default Parameters: - Limited Range: 4 Pips - High/Low Directionality: 3 Pips - Open/Close Proximity: 4 Pips - Inside Bar Tolerance: 3 Pips - Session Alerts: Enabled for European, American, and London Close sessions - Time Shift: Default 6 (adjustable to align with different time zones) This indicator is specifically optimized for Yen pairs on 5-minute charts due to its pip calculation.
Pine Script™ indicator
by TrendFollowingTradersCommunity
Reversão Simples com Pontos de Liquidez//@version=5 indicator("Indicador IQ Option - Reversão Simples com Pontos de Liquidez", overlay=true) // Configurações do RSI para detectar condições de reversão rsiLength = input.int(14, title="Período do RSI") overbought = input.int(70, title="Nível de Sobrecomprado (Venda)") oversold = input.int(30, title="Nível de Sobrevendido (Compra)") rsi = ta.rsi(close, rsiLength) // Definindo as condições de entrada de compra (CALL) e venda (PUT) sinalCompra = ta.crossover(rsi, oversold) // RSI cruzando para cima o nível de sobrevenda sinalVenda = ta.crossunder(rsi, overbought) // RSI cruzando para baixo o nível de sobrecompra // Plotando os indicativos de entrada para Compra (CALL) e Venda (PUT) como texto plotshape(series=sinalCompra, title="Entrada CALL", location=location.belowbar, color=color.green, style=shape.labelup, text="CALL") plotshape(series=sinalVenda, title="Entrada PUT", location=location.abovebar, color=color.red, style=shape.labeldown, text="PUT") // Identificando os dois últimos pontos de liquidez (topos e fundos) lookback = 50 // Número de barras para procurar os topos e fundos // Encontrando os índices dos maiores topos e fundos nas últimas `lookback` barras topoIndex = ta.highestbars(high, lookback) fundoIndex = ta.lowestbars(low, lookback) // Garantindo que os índices não sejam negativos (significa que o ponto não existe dentro da janela de lookback) validTopoIndex = topoIndex >= 0 ? topoIndex : na validFundoIndex = fundoIndex >= 0 ? fundoIndex : na // Preços de liquidez nos topos e fundos liquidezTopo = validTopoIndex >= 0 ? high : na liquidezFundo = validFundoIndex >= 0 ? low : na // Plotando linhas horizontais nos dois últimos pontos de liquidez if (validTopoIndex >= 0) line.new(x1=bar_index , y1=liquidezTopo, x2=bar_index, y2=liquidezTopo, color=color.orange, width=2, style=line.style_dashed) if (validFundoIndex >= 0) line.new(x1=bar_index , y1=liquidezFundo, x2=bar_index, y2=liquidezFundo, color=color.blue, width=2, style=line.style_dashed) // Detectando reversões após os pontos de liquidez reversaoTopo = ta.crossover(close, liquidezTopo) // Quando o preço ultrapassa o topo reversaoFundo = ta.crossunder(close, liquidezFundo) // Quando o preço cai abaixo do fundo // Plotando setas de reversão plotshape(series=reversaoTopo, title="Reversão no Topo", location=location.abovebar, color=color.yellow, style=shape.triangledown, text="Reversão") plotshape(series=reversaoFundo, title="Reversão no Fundo", location=location.belowbar, color=color.purple, style=shape.triangleup, text="Reversão") // Alertas para notificar o trader alertcondition(sinalCompra, title="Sinal de Compra (CALL)", message="Sinal de Compra (CALL) detectado!") alertcondition(sinalVenda, title="Sinal de Venda (PUT)", message="Sinal de Venda (PUT) detectado!")
Pine Script™ indicator
by natozica01
First 5 Minutes Open/Close LinesThis very simple indicator paints lines at the high and low of the first 5m candle of the session. It is primarily intended for big cap NYSE traded stocks with high volume. I wrote this indicator to save me the trouble of manually drawing the lines each day. The lines drawn at the 5m high/low will remain constant regardless of which timeframe you switch to. In the example screenshot, we are looking at the 1m timeframe. This helps us switch effortlessly between different timeframes to see if a given price movement meets our entry criteria. In addition to drawing lines at the first 5m high/low, it will optionally paint two zones, one each around the high and low. The boundaries of this zone are configurable and expressed as a percentage of the total movement of the first 5m bar. By default, it is set to 25%. This indicator is based on the concept that the first 5m bar always has massive volume which helps us infer that price may react around the extremes of that movement. The basic strategy works something like this: - You identify the high timeframe (HTF) trend direction of the stock - You wait for the first 5m candle of the session to close - You wait for price to puncture through the outer boundary of the zone marked by the indicator. - You enter when price retraces to the high, or low, which marks the midpoint of the punctured zone. - Only enter long on stocks in a HTF uptrend, and short on stocks in an HTF downtrend. - Use market structure to identify stop loss and take profit targets Note: Use at your own risk. This indicator and the strategy described herein are not in any way financial advice, nor does the author of this script make any claims about the effectiveness of this strategy, which may depend highly on the discretion and skill of the trader executing it, among many other factors outside of the author's control. The author of this script accepts no liability, and is not responsible for any trading decisions that you may or may not make as a result of this indicator. You should expect to lose money if using this indicator.
Pine Script™ indicator
by KingSpork