TradeDots - Buy Sell SignalsThe TradeDots Buy Sell Indicator is a sophisticated multi-strategy analytics tool designed to discern market direction and identify potential trading opportunities.
The TradeDots indicator utilizes a trend-following strategy that initially identifies the long-term market trend, whether bullish or bearish, at a macro level. It then zooms in on pullback and reversal price action patterns within this broader trend. These patterns are confirmed by a micro-level candlestick analysis, which leads to the issuance of a "buy" alert. This process ensures both macro and micro elements of the market are considered before entering a trade.
How Does It Work?
In more detail, the procedure begins at the macro level where the advanced indicator applies an Exponential Moving Average (EMA) within the current timeframe. This EMA is then cross-verified with another EMA of the same length from a higher timeframe, ensuring a reliable assessment of long-term market trends. This approach helps establish whether the market situation favors long or short positions.
Following this, a complex mathematical model uses a designated window of candlesticks to calculate price action changes, storing all significant reversal patterns for subsequent comparison. The algorithm then identifies similar repeated reversal patterns in the chart, pinpointing potential market turning points.
For precision and reliability, the confirmation of these reversal patterns involves further refinement and filtering at a micro level. By calculating market momentum in tandem with an exhaustive analysis, e.g. Average True Value (ATR), candlestick body and wick data, the algorithm can affirm the reversal. Finally, the buy or sell signals are plotted on the chart in real-time.
The indicator includes 4 distinct entry strategies for both "Long" and "Short" orders. Each strategy represents different levels of rigorousness in their analysis rules. For instance, a "Weak Buy" signal represents a lighter pullback strength compared to a "Strong Buy" signal, with "Reversal Buy" exhibiting the robust pullback strength based on the change in price action value.
Each type of order comes with its minimum threshold and conditions for profit-taking to prevent excessive trading activity that could lead to high commission costs. Once these conditions are met and coupled with a reversal signal — generated with the same concepts as mentioned earlier but in the opposite direction — a sell signal is then triggered in real time. It's a systematic process that ensures an optimal balance between timely entries and exits in the market.
Generating Trading Ideas Catering To Traders Of All Kinds
TradeDots Buy Sell Indicator includes multiple strategies and many features:
4+ Types of Trading Alerts: Strong, Weak, Reversal, and Breakout for different market conditions (Should not be followed blindly).
2+ Trading Styles: Buy and Hold, Swing Trading (Should not be followed blindly).
Facilitates both "Long" and "Short" trades.
+ more. (Check the changelog below for current features)
HOW TO USE
⭐️ TRADING STRATEGY
Buy and Hold: An approach suitable for long-term investments or as an alternative to a dollar-cost averaging strategy by identifying only the undervalued positions in markets with long-term growth potential like stocks and indices.
Note: This strategy does not provide an exit strategy.
Swing Trading: This method targets buying low and selling high, adapted for traders looking to make the most of short to mid-term market volatility.
⭐️ ORDER DIRECTION
Order direction is for “Swing trading” strategy and other strategies that comes with an exit strategy. It is to choose the direction of the market that you wish to place your order on.
Long: Primarily targeting markets that exhibit a left-skewed trend (more often it rises than falls), this strategy focuses on "long" trading opportunities, avoiding "short" market actions.
Short: Apt for markets displaying a right-skewed trend (more often it falls than rises), this approach targets "short" opportunities exclusively, refraining from "long" market actions.
Long and Short: This comprehensive strategy identifies trading opportunities for both "long" and "short" market actions, facilitating increased opportunities for volatile assets.
⭐️ ALERT TYPES
Strong: These alerts designate high risk/reward return opportunities with a reasonable win rate. They tend to appear near previous support pivots where a Change in Character (CoCh) may often occur, typically coupled with a tight stop-loss strategy.
Weak: Indicative of opportunities balancing risk/reward return and win-rate, these alerts often appear during strong momentum markets.
Reversal: These signals identify potential reversals by highlighting extreme oversold or overbought states, thus revealing markets that are underpriced or overpriced for swift trading actions.
Breakout: They are to identify a change in trend and market breakout by gaps created post earnings or significant economic events, purposed for "Buy high, sell higher" strategies.
⭐️ STOP LOSS
The stop-loss feature offers customization options, enabling users to close a position upon reaching a predefined percentage drawdown. As volatility varies across different timeframes and markets, tuning this feature in accordance with the market allows optimal usage of this indicator.
CONCLUSION
While technical indicators are certainly vital in trading analysis, they are just one part of the equation. The individual trader's style and mindset significantly influence their trading outcomes, making them equally crucial in the process. Therefore, relying solely on indicators for a successful trading outcome may not be the most effective strategy.
Understanding and leveraging these indicators requires substantial time and significant effort from traders. They need to deeply engage with these tools to truly grasp their behavior and functionality. Taking this into consideration, our aim is to create highly advanced, customizable, and user-friendly technical indicators. This tool is designed to illuminate the fundamental role that technical indicators play as a supportive decision-making apparatus, aiding traders to more swiftly embark on their journey towards successful trading.
See Author's instructions below to get instant access to this indicator.
RISK DISCLAIMER
Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.
Candlestick analysis
Trend: SMA with ATR Bands and EMA [Oxyge]Brief introduction:
Easy to use trend indicator to help find entry positions
How it works:
1, short-term trend judgment: EMA is greatly influenced by short-term trends, so it is very good to use it as a tool for judging short-term trends. At the same time, the filtering function has been added:
Long: green
Short: red
No direction: blue
2, the general trend judgment: the use of 30SMA as the default trend line, while increasing the ATR band to increase the scope of judgment.
How do I use (assuming it is now a period of long market):
1, first look at the 30SMA and ATR band, if the slope is positive (> 45 °), then ready to go long!
2. When price comes to the ATR band, the ATR band is my point of interest
3. Wait for a test of the ATR band: the EMA turns green, which means that the short-term trend is already nice and long.
4. Stop Loss Placement: Stop Loss is placed at the most recent low.
Closing
Enjoy it!
——————————————
简单介绍：
简单易用的趋势指标，帮助寻找进场位置
它怎么工作：
1、短期趋势判断：EMA受短期趋势影响很大，因此把它作为判断短期趋势的工具非常好用。同时增加了过滤功能：
多头：绿色
空头：红色
无方向：蓝色
2、大趋势判断：使用30SMA作为默认趋势线，同时增加ATR带增加判断范围。
我是如何使用的（假设是现在是一段多头行情）：
1、先看30SMA和ATR带，如果斜率为正（>45°），那么准备做多
2、当价格来到ATR带时，ATR带是我的感兴趣的点
3、等待一次对于ATR带的测试：EMA变成绿色，代表短期已经是不错的多头趋势
4、止损放置：止损放置在最近的低点
结束
请享受它
HTF FVG and Wick Fill trackingImbalances in the charts are some of the clearest and most traded price areas. Two of the best and most used are fair value gaps FVGs and large candle wicks. In both of these price appears to move in such a way that most are left behind having 'missed' the move. But in reality price will often come back to these price points to re-balance and absorb the liquidity that was left behind.
This indicator takes these areas and makes viewing and tracking them clearer than ever. It does this, by first allowing the user to overlay a higher timeframe candle on the current chart. This in itself provides an in depth look at a higher timeframe candle both as it forms and in its final form.
Next the indicator identifies either the FVG or large wicks, on the chosen higher timeframe, all while the chart remains on a lower timeframe. As seen here the fair value gaps are clearly highlighted, taken from a 4 hour timeframe, while the actual chart is on 15 minutes. This allows the user even greater accuracy in identifying their key trading areas.
Utilizing the indicators unique feature, these areas can optionally be extended forward to the current timeframe and 'filled' in realtime. Areas that are filled to the users defined level, will be removed from the chart.
With supplementary settings for how much history to show, how large of a wick should be highlighted and complete control over the colour scheme, users will be able to track and understand the filling of imbalances like never before.
Smart Money Concepts [UAlgo]🔶 Description:
Smart Money Concepts (SMC) refer to a trading strategy that revolves around understanding and following the actions of institutional investors, such as banks and hedge funds, who are considered the “smart money” in the market. The concept is based on the idea that these institutions have more information and resources, and thus their market activities can indicate future market movements.
This script designed to be a tool that will automatically provide many features related to SMC concept for investors, offering a market structure analysis that includes the identification of order blocks, breaker blocks, and liquidity points. It also delineates premium and discount zones, highlights Fair Value Gaps (FVG), Volume Imbalance (VI) and Order Gap (OG) areas, providing users with a multifaceted view of market dynamics.
🔶 Key Features:
Market Structure Analysis : Simplifies the overview of market behavior, identifies market breakouts or trend continuation.
It detects the market structure as shown in the image below :
Order Blocks : Detects Order Blocks based on market structure analysis and volume characteristics. It draws these blocks and provides information such as volume.
Order Block Identification:
Breaker Blocks : Detects Breaker Blocks based on market structure analysis.
Breaker Block Identification:
When Order Block above is broken,
As you can see, it has now turned into a Bearish Breaker Block,
And it seems that the price is getting a reaction from this breaker block above.
Liquidity Sweeps : Tracks liquidity sweeps on both the buy and sell sides, offering traders a perspective on market momentum and potential shifts.
Multi-Timeframe Fair Value Gap (FVG), Volume Imbalance (VI), Order Gaps (OG) Detection : Detects Fair Value Gap (FVG), Volume Imbalance (VI) and Order Gaps (OG) based on different criteria such as price movements and volume characteristics. It marks these gaps/voids and provides visual cues for analysis.
Examle for FVG:
Premium & Discount Zone Analysis : Analyzes premium and discount zones, showing prices within these zones and highlighting equilibrium (0.5) levels.
Customizable Options : Provides various input parameters for customization, such as market structure length, sensitivity settings, display preferences, and mitigation methods.
Previous Key Levels : Identifies previous key levels include previous highs, lows, equilibrium points, and open prices across different timeframes such as daily, weekly, and monthly.
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Entry FraggerEntry Fragger is a simple buy signal indicator.
It is most suitable for cryptocurrency, especially for altcoins on the 5 minute to daily timeframe and is based on simple volume calculations, in combination with EMA's.
Main Signal Logic explained:
A buy signal is generated by counting candles with an above average sell volume of 130% to 170%, taking into account the candles position below and above the 50 and 200 EMA.
If criteria meet, the first green candle above the 50 EMA's suggests upcoming higher prices.
The indicator has 2 input variables.
"Signal Confirmations (0 - 7):" Changes signal accuracy by a defining an ammount of high sell volume candles necessary below the 50 EMA.
"Volume Calculation Base (9 - 200):" Sets the exponential volume multiplier, this affects candle coloring and the volume calculation inside the candle.
"Style Settings": Turn ON/OFF Signals, Cloud, Bar Coloring, EMA's, etc...
There are no generally suitable default numbers for those 2 inputs, those have to be tested out, depending on cryptocurrency and timeframe.
The calculation is very basic, the underlying idea being, market maker initiating range breakouts through rapid increase of volume above or below the EMA's .
Example settings:
SOLUSDT: Signal Confirmations: 2, Volume Calculation Base 13.
SOLUSDT: Signal Confirmations: 0, Volume Calculation Base 20.
As you can see it affects signals quite a lot, but staying accurate.
Finetune the inputs to your preference.
Risk to Reward, Stoploss, Take Profit, position sizing, etc... is up to the user.
Recommended entry is to wait for following candle closes, entering half of the candle size and setting Stoploss outside the structure, like this:
Or right below the candles open, for safety.
Ouside Bar First high/low DetectorIndicator wenting to the lower time frame(if compare with current chart time frame) and seek what happened first, the low of previouse bar was updated first or the high of previouse bar.
In some trading strategies need to know exactly sequence of actions for outside bars to program the logic for testing on deep history.
If first was updated the high of previouse bar indicator will draw green diamond above the outside bar. If first was updated the low of previouse bar then indicator will draw red diamon below the ouside bar.
In cases where both side diamonds is plotted it meant the current Lower time frame resolution is not enough to clear figure out what was first Low of High, need choose lower resolution.
I did not found ready to use examples and made my own.
I hope it will be usefull for you.
Best Regards.
Divergent Bar Strategy [declarative] v0.2Divergent Bar Strategy v0.2
Divergent Bar is a price action that signals potential trend reversal.
This strategy uses repeating divergent bars during a bearish local trend as signals to issue multiple averaging long orders in the direction of potentially emerging bullish trend. As the local trend reverses from bearish to bullish, position could become profitable and is closed by an opposite signal.
As an averaging strategy, this strategy can accumulate substantial order sizes, so this implementation uses a stop loss which is adjusted dynamically according to the current position size to protect deposit.
What you see on a chart:
Greenish background under the divergent bars. This designates detected divergent signals.
Alligator Fast Period and Required Bar Amplitude affect the amount of divergent bars detected.
Red green and blue alligator lines display the alligator indicator used as part of divergent bar detection. In general, you don’t need to see it, you can color the lines transparent in the Style section.
Green triangles designate placed long orders. Required Divergents for Long Cummulative Signal parameter affects those signals.
Parameters and default values:
Alligator Fast Period, default 9.
Length of the alligator fast EMA. The alligator indicator used to filter a divergent bar. A bar is considered divergent only if it is located below the alligator for bollish signal and above for a bearish. In general you can leave default value, as the period 9 corresponds to a reasonable value for an alligator, used for bars on a specific timeframe.
Required Bar Amplitude (%), default 0.4.
This is an important parameter that needs to be adjusted for different timeframes. It specifies minimum size of candle shadow used to detect divergent bars. Higher values produce more false signals, lower values tend produce only strong signals. Be careful, because it also filters out bearish signals used to close the trades, so you need a bearish signal to appear. If you filter small signals you risk ending up with a trade that does not close in profit. You need to find a balance here.
Required Divergents for Long Cummulative Signal, default 3.
Divergent bar does not necessarily signal an immidiate trend reversal. Sometimes several signals need to accumulate. This parameter specifies the count at which the orders start. If you increase this count, orders are only placed after the count is achieved, so your position has bigger chance to go in profit sooner. It does not necessarily mean the most profitable position.
Required Divergents for Short Cummulative Signal, default 1.
It is the same as for long positions, but the opposite.
These signals are used to close the trades. Higher value can mean that a take profit signal would happen at potentially higher price, but be aware that it could also lead to missign oportunity to take profit if there is not enough signals in the sequence.
Long Order Size (%), default 5.0.
Percentage of deposit used for the first order in sequence. Actual order size is comuted dynamically, it depends on Reinvest and parameter. In case Reinvest is turned on, it is computed relative to the current equity, that is initial deposit and netprofit combined.
Reinvest (only for backtesting), default - turned off.
Affects Long Order Size. If turned off, order size is computed according to percentage of total equity, that is initial deposit + net profit. In an automated strategy, you should not turn this parameter on, because this way you can’t control the position size, as it growith or reduces during the actual period of the study.
Martingale, default 1.0.
Affects dynamically computed order size. First order is calculated in percentage from deposit or equity, as specified by Long Order Size and Reinvest parameters.
Order will be scaled by the following values:
Martingale = 0.0 - only the first order would be placed.
Martingale = 1.0 - equal orders will be placed in sequence, with leads to unlimited position growth.
Martingale = 1.3 - orders will be scaled by 1.3, 1.69, 2.197 etc. That is geometric increasing sequnce, which leads to unlimited position growth.
Sequential long order size is multiplied by the martingale value.
Martingale < 1.0 - orders will be scaled by geometrically decreasing sequence, resulting in limited growth of position.
Long Stop Loss (%), default 10.0.
Dynamically adjusted stop loss, which is computed according to the current average position price, so the value potentially lost is proportional to the percentage specified.
Show Long Stop Loss Line, default is off.
Draws a graph line corresponding to the dynamic stop loss on the chart.
Bullish Line Visual Offset (% of price), default -10
For convenience, the count of sequential orders is drawn as a green line over a black EMA on the same chart, offset from an EMA. This is just a visual aid to visualize the strength of long signal as divergent bars accumulate in sequence. EMA is just used so the visual cue is always displayed somewhere close the price graph.
SMT divergencesAn extension from my Liquidity Raids indicator work, this indicator is a way to approach SMT divergences occurring on your pair against a configured pair i.e., when a bullish or bearish raid occurs (i.e., low or high gets taken) in the correlated asset and it doesn't occur in the current asset or vice versa, the indicator plots it on the chart.
In the above example, you can see SMT divergences between US100 and US500.
The following features are supported:
SMT plotted on pairs
Alerts to get notified when such SMTs occur.
Inversion of SMTs supported (for e.g., when you want SMT from DXY to be plotted on EU)
Minimum pips filter required for raids to trigger SMT (plot or alert)
NOTE: It's cleanest and advisable when it's used on the same timeframe as the chart. While switching timeframe works, the timeframe in the indicator must be equal or higher than the current timeframe, however it won't be accurate and I don't want to put in further efforts for a free-to-use indicator :)
ThWiDraws thick vertical lines behind candles or bars so it looks like the wicks are thick. The thickness is adjustable and so are the color for up bars vs down bars.
2. [pufferman] - Key Bars with auto halflineThe idea is to identify significantly large candles on high volume. These candles frequently offer significant context to the subsequent candles.
The indicator marks unusually large candles with certain body to wick & tail ratio that has above average volume. These candles are marked bullish and bearish (green or red respectively). It is recommended that these colors are a higher tier than the regular candles to denote significance. See chart for reference. regular candles are blue and yellow while key bars are marked green and red.
the half value of the spread (open and close) of the candle is significant level. you want the half line held in whatever direction your trend is. I.e. if a bullish key bar, you want the price to hold above the half line of the key bar. this is the type of price action you want to see in a trending move. Reverse for bearish key bars.
This indicator work on all time frames and will identify keybars according to he users metrics on all time frames. However, the most two recent daily keybar half line is projected onto all intraday timeframes to allow the user quickly see significant daily levels on the intraday time frames.
The indicator is based on moving average of the atr of the spread of the candle and tail and wick vs spread size ratio to determine unusually large bodied candles. The candle also have to have above average volume. Default average is the 10 session MA.
I use blue and yellow regular candles. and so the keybars are colored red and green. you may need to change this. In case the user uses other candle color overlays, the keybars are also denoted via a purple square below the candle.
Heikin Ashi TSI and OTT [Erebor]TSI (True Strength Index)
The TSI (True Strength Index) is a momentum-based trading indicator used to identify trend direction, overbought/oversold conditions, and potential trend reversals in financial markets. It was developed by William Blau and first introduced in 1991.
Here's how the TSI indicator is calculated:
• Double Smoothed Momentum (DM): This is calculated by applying double smoothing to the price momentum. First, the single smoothed momentum is calculated by subtracting the smoothed closing price from the current closing price. Then, this single smoothed momentum is smoothed again using an additional smoothing period.
• Absolute Smoothed Momentum (ASM): This is calculated by applying smoothing to the absolute value of the price momentum. Similar to DM, ASM applies a smoothing period to the absolute value of the difference between the current closing price and the smoothed closing price.
• TSI Calculation: The TSI is calculated as the ratio of DM to ASM, multiplied by 100 to express it as a percentage. Mathematically, TSI = (DM / ASM) * 100.
The TSI indicator oscillates around a centerline (typically at zero), with positive values indicating bullish momentum and negative values indicating bearish momentum. Traders often look for crossovers of the TSI above or below the centerline to identify shifts in momentum and potential trend reversals. Additionally, divergences between price and the TSI can signal weakening trends and potential reversal points.
Pros of the TSI indicator:
• Smoothed Momentum: The TSI uses double smoothing techniques, which helps to reduce noise and generate smoother signals compared to other momentum indicators.
• Versatility: The TSI can be applied to various financial instruments and timeframes, making it suitable for both short-term and long-term trading strategies.
• Trend Identification: The TSI is effective in identifying the direction and strength of market trends, helping traders to align their positions with the prevailing market sentiment.
Cons of the TSI indicator:
• Lagging Indicator: Like many momentum indicators, the TSI is a lagging indicator, meaning it may not provide timely signals for entering or exiting trades during rapidly changing market conditions.
• False Signals: Despite its smoothing techniques, the TSI can still produce false signals, especially during periods of low volatility or ranging markets.
• Subjectivity: Interpretation of the TSI signals may vary among traders, leading to subjective analysis and potential inconsistencies in trading decisions.
Overall, the TSI indicator can be a valuable tool for traders when used in conjunction with other technical analysis tools and risk management strategies. It can help traders identify potential trading opportunities and confirm trends, but it's essential to consider its limitations and incorporate additional analysis for more robust trading decisions.
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.
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 programming language, indicators and strategies. © TradingView
Kind regards.
© Erebor_GIT
FlowHello, everyone,
Recently I found a useful indicator for the short-term minute-level trading called Liquidity Sweeps. This is a technical indicator that studies the resistance and support levels of candle patterns.
The strategy takes into account the following market factors:
Lql -> resistance formed by a rapid rise or support formed by a rapid rise
Sweep Area -> potential entry point
The inspiration of this strategy comes mostly from Liquidity Sweeps (LuxAlgo), but I have also optimized it based on my own trading experience.
What are the differences from the original strategy?
The Only Outbreaks & Retest option has been removed, and the formation of Wicks is enough to prevent conflicting signals.
The P&L ratio of the strategy has been set, which allows more combinations of the appropriate strategy parameters to match different characteristics of trading pairs.
Signals
1. Enter the trade when three consecutive bars are formed in the Wicks block (resistance or support) and set the stop-loss/stop-profit
2. The condition is not met when three bars are formed in the Wicks block, and the Wicks index is reset when the price returns.
Risk Management
1. Use the P&L ratio, plus appropriate ATR volatility to prevent false breakouts.
2. When the signal is reversed.
3. The strategy is suitable for the short-term level, not for the trend market.
Now, for the inexperienced reader, a series of knowledge. ATR: Like Boolean channel and ADX, Average True Rage is an indicator used to measure price volatility. But unlike these two indicators, it can reflect the price volatility more accurately because of the factors such as gaps added in its calculation process. For this reason, it is called "true" volatility.
Sincerely,
Special thanks to @LuxAlgo for sharing.
Morning & Evening Star [TradingFinder] Stock Indices Gap Candle🔵 Introduction
In "technical analysis", there are certain reversal patterns that alert us to a potential reversal of a stock's previous trajectory.
Two significant patterns in this regard are the "Morning Star" pattern and the "Evening Star" pattern, which are formed by a combination of three different candlesticks and are considered as reversal patterns.
Here, we will examine how to identify these patterns and how to respond to them.
🟣 Morning Star Pattern
This pattern forms at the end of a downtrend and indicates the beginning of an uptrend.
The pattern consists of three candlesticks in the following order :
1.A large bearish candlestick
2.A candlestick with a short body
3.A bullish candlestick
With the formation of the morning star pattern, it is expected that the stock price will change direction and continue to rise. Therefore, in such situations, it is advisable to enter a long position and follow the uptrend.
Signs of the morning star pattern :
•The first sign of this pattern is the presence of a small-bodied candlestick at the end of the trend, accompanied by a gap from the previous candlestick (a bearish candlestick with a large body). Therefore, the bodies of the first and second candlesticks do not overlap.
•The second candlestick indicates market confusion and uncertainty. The color of the middle candlestick is not significant.
•The third candlestick must be positive and have a higher price than the previous candlestick (i.e., the small-bodied candlestick).
•The closing price of the third candlestick must be higher than half of the first candlestick.
🟣 Evening Star Pattern
This pattern forms at the end of an uptrend and indicates the beginning of a downtrend.
The pattern consists of three candlesticks in the following order :
1.A large bullish candlestick
2.A candlestick with a short body
3.A bearish candlestick
With the formation of the evening star pattern, it is expected that the stock price will change direction and continue to fall. Therefore, in such situations where this pattern is identified, it is advisable to refrain from entering a long position.
If the stock is traded in a two-way market, it is possible to profit by taking a short position after the formation of the evening star pattern.
Signs of the evening star pattern :
•The first sign of this pattern is the presence of a small-bodied candlestick at the end of the trend, accompanied by a gap from the previous candlestick (a bullish candlestick with a large body). Therefore, the bodies of the first and second candlesticks do not overlap.
•The second candlestick indicates market confusion and uncertainty. The color of the middle candlestick is not significant.
•The third candlestick must be negative and have a lower price than the previous candlestick (i.e., the small-bodied candlestick).
•The closing price of the third candlestick must be lower than half of the first candlestick.
🔵 How to Use
The "Filter" and "Market" features are available in the settings section, allowing you to customize the output of the indicator according to your needs.
With the "Filter" feature, you can filter the "Morning Star" and "Evening Star" patterns as "strong" or "weak." The difference between strong and weak patterns lies in their "Candle Body."
In strong patterns, the candle bodies account for more than 80% of the total candle range, while in weak patterns, the bodies comprise between 60% to 80% of the candle range.
If the "Filter" feature is set to "On," only strong patterns will be displayed. If it's set to "Off," all patterns will be displayed. By default, it's set to "Off."
The "Market" feature allows you to include "gaps" in your pattern identification calculations. You can choose between "Forex" and "Stock" modes. In the Forex pattern, calculations are performed without considering gaps since there are fewer gaps in the Forex market.
If gap calculations were to be part of the pattern identification conditions, only a very small number of patterns would be identified. However, in the "Stock" mode, gaps are considered as part of the identification conditions.
Order-Block Detector ICT/SMT + FVG + SignalsOrderBlock-Finder
This script shows order-blocks (OB) and fair-value-gaps (FVG). Additionaly there are entry signals for OB and FVG. The Dist-Parameter tell how many candles should exist between the beginning of the OB or FVG and the pullback.
Order-Blocks
An order block in trading typically refers to a significant grouping of buy or sell orders at a particular price level within a financial market. These blocks of orders can influence price movement when they are executed. Here's a breakdown:
Buy Order Block: This occurs when there's a large concentration of buy orders at a specific price level. It indicates a significant interest among traders to purchase the asset if the price reaches that level.
Sell Order Block: Conversely, a sell order block happens when there's a notable accumulation of sell orders at a particular price level. This suggests that many traders are willing to sell the asset if the price reaches that level.
Impact on Price: Order blocks can influence price movement because when the market approaches these levels, the orders within the block may be triggered, leading to increased buying or selling pressure, depending on the type of block. This surge in trading activity can cause the price to either bounce off the level or break through it.
Support and Resistance: Order blocks are often associated with support and resistance levels. A buy order block may act as support, preventing the price from falling further, while a sell order block may serve as resistance, hindering upward price movement.
Fair-Value-Gap
The fair value gap in trading refers to the difference between the current market price of an asset and its calculated fair value. This concept is often used in financial markets, especially in the context of stocks and other securities. Here's a breakdown:
Market Price: The market price is the price at which an asset is currently trading in the market. It is determined by the interaction of supply and demand forces, as well as various other factors such as news, sentiment, and economic conditions.
Fair Value: Fair value represents the estimated intrinsic value of an asset based on fundamental analysis, which includes factors such as earnings, dividends, cash flow, growth prospects, and prevailing interest rates. It's essentially what an asset should be worth based on its fundamentals.
Fair Value Calculation: Analysts and investors use various methods to calculate the fair value of an asset. Common approaches include discounted cash flow (DCF) analysis, comparable company analysis (CCA), and dividend discount models (DDM), among others.
Fair Value Gap: The fair value gap is the numerical difference between the calculated fair value of an asset and its current market price. If the market price is higher than the fair value, it suggests that the asset may be overvalued. Conversely, if the market price is lower than the fair value, it indicates that the asset may be undervalued.
Trading Implications: Traders and investors often pay attention to the fair value gap to identify potential trading opportunities. If the market price deviates significantly from the fair value, it may present opportunities to buy or sell the asset with the expectation that the market price will eventually converge towards its fair value.
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
KT Litmus2
Hello everyone,
Recently I saw a very good indicator on TV called Ichimoku Oscillator. This is a K-line convergence and divergence indicator similar to MACD. After backtesting research, this indicator performs well on long-term trends.
Since it is an indicator, it is made into a strategy category. Several optimizations have also been made.
This strategy takes into account the following market factors:
EMA -> Trend
Fast line - slow line -> moving average
EMA Squeeze -> Momentum Conversion, Trend
ATR -> Noise Reduction
How does it compare to the original indicator?
Optimized background display so the canvas doesn't feel cluttered with excessive colors.
Optimized part of the position reduction logic so that too many trading signals will not affect the performance of the strategy.
NOTE: As you can see, there are potential improvements that can be made by merging volumes.
Signal
Input level -> Kinetic energy enhancement, +4 long, -4 short
Partial exit level -> moving average (EMA | fast and slow line) crossing, trend unchanged
All exit levels -> trend conversion
Risk Management
"Trend Stop Loss" and "Momentum Take Profit" are used here.
Trend stop loss: Use the conversion of the strategy trend parameter wave range to close the order.
Momentum take profit: take advantage of the weakening or reverse trend momentum of the strategy to take profit.
As described, the strategy has obvious advantages in trend trading, but in volatile markets, stop loss may be triggered due to frequent signals.
Now, a set of knowledge is provided for the inexperienced reader.
MACD usually consists of three components. The MACD line is the fast exponential moving average (usually taken on the 12th day) minus the slow exponential moving average (usually taken on the 26th day), generally called the difference (DIF). The second line is the signal line, which is the exponential moving average of DIF (usually 9 days), generally called DEA. The last component is the MACD histogram, whose value is the difference between DIF and DEA. However, the time value of the MACD indicator can also be adjusted according to the trader's preference and trading category.
The underlying logic of DIF is that the short-term exponential moving average reflects current price movements, while the long-term EMA reflects earlier price movements. Therefore, if there is a large gap between these two EMAs, then the market is trending up or down. While the MACD histogram is oscillating around the zero line, indicating the strength of the trend.
EMA: Exponential Moving Average; similar to a simple moving average but exponentially weights the input data.
Sincerely,
salute
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Acknowledgments:
@LonesomeTheBlue
renew
March 14
Strategies for increasing Python version
FreedX Grid Backtest█ FreedX Grid Backtest is an open-source tool that offers accurate GRID calculations for GRID trading strategies. This advanced tool allows users to backtest GRID trading parameters with precision, accurately reflecting exchange functionalities. We are committed to enhancing trading strategies through precise backtesting solutions and address the issue of unreliable backtesting practices observed on GRID trading strategies. FreedX Grid Backtest is designed for optimal calculation speed and plotting efficiency, ensuring users to achieve fastest calculations during their analysis.
█ GRID TRADING STRATEGY SETTINGS
The core of the FreedX Grid Backtest tool lies in its ability to simulate grid trading strategies. Grid trading involves placing orders at regular intervals within a predefined price range, creating a grid of orders that capitalize on market volatility.
Features:
⚙️ Backtest Range:
→ Purpose: Allows users to specify the backtesting range of GRID strategy. Closes all positions at the end of this range.
→ How to Use: Drag the dates to fit the desired backtesting range.
⚙️ Investment & Compounding:
→ Purpose: Allows users to specify the total investment amount and select between fixed and compound investment strategies. Compounding adjusts trade quantities based on performance, enhancing the grid strategy's adaptability to market changes.
→ How to Use: Set the desired investment amount and choose between "Fixed" or "Compound" for the investment method.
⚙️ Leverage & Grid Levels:
→ Purpose: Leverage amplifies the investment amount, increasing potential returns (and risks). Users can define the number of grid levels, which determines how the investment is distributed across the grid.
→ How to Use: Input the desired leverage and number of grids. The tool automatically calculates the distribution of funds across each grid level.
⚙️ Distribution Type & Mode:
→ Purpose: Users can select the distribution type (Arithmetic or Geometric) to set how grid levels are determined. The mode (Neutral, Long, Short) dictates the direction of trades within the grid.
→ How to Use: Choose the distribution type and mode based on the desired trading strategy and market outlook.
⚙️ Enable LONG/SHORT Grids exclusively:
█ MANUAL LEVELS AND STOP TRIGGERS
Beyond automated settings, the tool offers manual adjustments for traders seeking finer control over their grid strategies.
Features:
⚙️ Manual Level Adjustment:
→ Purpose: Enables traders to manually set the top, reference, and bottom levels of the grid, offering precision control over the trading range.
→ How to Use: Activate manual levels and adjust the top, reference, and bottom levels as needed to define the grid's scope.
⚙️ Stop Triggers:
→ Purpose: Provides an option to set upper and lower price limits, acting as stop triggers to close or terminate trades. This feature safeguards investments against significant market movements outside the anticipated range.
→ How to Use: Enable stop triggers and specify the upper and lower limits. The tool will automatically manage positions based on these parameters.
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This guide gives you a quick and clear overview of the FreedX Grid Backtest tool, explaining how you can use this cutting-edge tool to improve your trading strategies.
FreedX Backtest Plus█ Our new FreedX Backtest PLUS template enhances TradingView backtesting with smart features like Mean Reversion, Flexible Volatility, Liquidation Filter, and Better Trend Filtering, making strategies more effective. It lets users set up automated alerts easily. This guide explains how to make the most of these improved features.
The Trading Date Settings feature in our TradingView script allows you to refine their backtesting parameters by specifying trading dates and hours. This feature enhances the accuracy of the backtest by aligning it with specific time frames and days, ensuring that the strategy is tested under relevant market conditions.
Features:
⚙️ Enable Trading Between Specific Dates:
🎯 Purpose:
→ Allows you to limit the backtesting of their strategy to a specific date range.
💡 How to Use:
→ Input the Start Date and End Date for the backtest period.
→ The script will execute the strategy only within this specified date range.
⚙️ Enable Trading Between Specific Hours:
🎯 Purpose:
→ Allows you to limit the backtesting of their strategy to a specific hour range.
💡 How to Use:
→ Input the start and end hour for in Trading Session section.
→ The script will execute the strategy only within this specified hour range.
⚙️ Enable Trading on Specified Days of the Week:
🎯 Purpose:
→ Gives you the option to conduct backtesting on selected days of the week, tailoring the strategy to particular market behaviours that may occur on these days.
💡 How to Use:
→ Select the days of the week for the backtest.
→ The script will activate the trading strategy only on these chosen days.
█ BUY/SELL TRIGGER SETTINGS
The Buy/Sell Trigger Settings feature is designed to provide users with flexibility in defining the conditions for 'LONG' and 'SHORT' signals based on various indicator types. This customization is crucial for tailoring strategies to different trading styles and market conditions.
Features:
⚙️ Single-Line Plotted Indicators :
🎯 Purpose:
→ Enables you to select a single-line plotted indicator as a source for backtesting. You can define specific levels to trigger 'LONG' or 'SHORT' signals.
💡 How to Use:
→ Choose a Single-Line Plotted indicator as the source.
→ Set the top and bottom levels for the indicator.
→ The script triggers 'LONG' signals at the bottom level and 'SHORT' signals at the top level.
⚙️ Two-Line Plotted Indicators :
🎯 Purpose:
→ Allows backtesting with two-line cross plot sources. Signals are generated based on the crossover of these lines.
💡 How to Use:
→ Select two lines as 'Source 1' and 'Source 2' for the indicator.
→ The script triggers a 'LONG' signal when 'Source 1' crosses above 'Source 2'.
→ Conversely, a 'SHORT' signal is triggered when 'Source 2' crosses above 'Source 1'.
⚙️ Custom Signals :
🎯 Purpose:
→ This setting enables users to define their own criteria for LONG, SHORT, and CLOSE signals based on custom indicator outputs.
💡 How to Use:
→ Select the custom source for your signals.
→ Define the output values that correspond to each signal type (e.g., “1” for 'LONG', “-1” for SHORT, and “0” for CLOSE).
→ The script will trigger signals according to these custom-defined values.
█ TP/SL SETTINGS
The TP/SL (Take Profit/Stop Loss) Settings feature is designed to give users control over their profit securing and risk mitigation strategies. This feature allows for setting custom TP and SL levels, which can be critical in managing trades effectively.
Features:
Custom TP/SL Levels for Long/Short Signals:
🎯 Purpose:
→ Enables users to set specific percentage levels for Take Profit and Stop Loss on long and short signals.
💡 How to Use:
→ In the TP/SL Settings, input the desired percentage for Take Profit (TP) and Stop Loss (SL).
→ For example, to secure a profit at a 10% price increase on LONG signals, set the “Long TP Percentage” to “10”.
█ STRATEGY SETTINGS
Strategy Settings provide a range of options to customize the trading strategy. These settings include leverage, position direction changes, and more, allowing users to tailor their strategy to their risk tolerance and market view.
Features:
⚙️ Enable Reverse Position:
🎯 Purpose:
→ Automatically closes a current position and opens a new one in the opposite direction upon detecting a signal for a market trend change.
🎯 Example:
→ If a LONG signal is received while in a SHORT position, the script will close the SHORT position and open a LONG position.
💡 How to Use:
→ Activate this feature in the Strategy Settings.
⚙️ Enable Spot Mode:
🎯 Purpose:
→ Disables short orders, using short signals only for closing long positions.
💡 How to Use:
→ Select the 'Spot Mode' option in the Strategy Settings.
⚙️ Enable Invert Signals:
🎯 Purpose:
→ Inverts all indicator signals, changing LONG signals to SHORT and vice versa.
💡 How to Use:
→ Opt for the 'Invert Signals' feature in the Strategy Settings.
⚙️ Enable Trailing Stop:
🎯 Purpose:
→ Triggers a trailing stop order on the exchange instead of a standard stop market order.
☢️ Caution:
→ The backtesting of this feature on TradingView may not accurately reflect actual strategy performance due to discrepancies between TradingView and exchange mechanisms.
💡 How to Use:
→ Select 'Trailing Stop' in the Strategy Settings.
⚙️ Enable Realistic TP & SL:
🎯 Purpose:
→ Goal is protect the user from unrealistic stop loss and take profit prices in live exchange trading conditions.
→ That feature continuously checks the take profit, stop loss and move stop loss prices to prevent unrealistic values. It changes their values according to (minimum realistic percent %)
💡 How to Use:
→ Select 'Enable Realistic TP & SL' in the Strategy Settings. Write min allowed percents.
█ LIMITER SETTINGS
Limiter Settings provide a range of options to customize the trading strategy. These settings include drawdown limits,contract limit, tradable ratio, for allowing users to tailor their strategy to their risk tolerance and market view.
⚙️ Leverage :
🎯 Purpose:
→ Allows users to apply leverage to their trades.
☢️ Caution:
→ High leverage can significantly increase the risk of liquidation.
→ High leverage and a high stop-loss price may override your fixed stoploss percentage, adjusting the stop-loss to the liquidation price.
💡 How to Use:
→ Set the desired leverage ratio in the Strategy Settings.
⚙️ Drawdown Limit:
🎯 Purpose:
→ Sets a maximum drawdown limit, automatically halting the strategy if this limit is reached, thereby controlling risk.
💡 How to Use:
→ Input the maximum drawdown limit (default: 100, min: 0, max: 100).
⚙️ Contract Limit:
🎯 Purpose:
→ Sets a maximum contract limit, beyond which the compound effect cannot be used. This is important to prevent market manipulation through large-volume orders.
💡 How to Use:
→ Input the maximum contract limit (min: 0).
⚙️ Tradable Ratio:
🎯 Purpose:
→ Sets a tradable ratio, it uses that ratio calculating entry cost for position. Main purpose is cash-out and cash-in according to balance change.
💡 How to Use:
→ Input the tradable ratio percent (default: 98, min: 0.1, max: 100).
█ CASH-OUT SETTINGS
Cash-Out Settings offer a money-saving mechanism that prevents entering positions with the entire balance due to cashed-out funds. It functions with a webhook alerts, but the 'Override Allocation %' option must be enabled.
⚙️ Cash-out Threshold %:
🎯 Purpose:
→ It is cash-out mechanism, it saves money with a target threshold.
💡 How to Use:
→ Input the threshold (min: 0).
⚙️ Cash-out Per Profitable Trades %:
🎯 Purpose:
→ It is cash-out mechanism, it saves money from every trade with a percent like commission.
💡 How to Use:
→ Input save percent% (min: 0).
█ ADAPTIVE VOLATILITY STRATEGY SETTINGS
Advanced Strategy Settings offer sophisticated methods for managing Stop Loss (SL) and Take Profit (TP) using the Average True Range (ATR). These settings are ideal for traders who want to incorporate volatility into their exit strategies.
Features:
⚙️ Enable ATR Stop Loss:
🎯 Purpose:
→ Automatically sets the Stop Loss price using the Average True Range at the time of entry.
💡 How to Use:
→ Activate 'ATR Stop Loss' to have the SL price calculated based on the current ATR.
⛓ Enable ATR Trailing Stop:
→ Dynamically updates the Stop Loss price with each new bar, according to the Average True Range.
→ Activate 'ATR Trailing Stop'.
→ Set the ATR Period to define the number of bars for ATR calculation.
→ Adjust the ATR SL Multiplier to determine the stop loss distance.
→ Modify the ATR TP Multiplier for setting the take profit distance.
⚙️ Enable ATR Take Profit:
🎯 Purpose:
→ Sets the Take Profit price based on the Average True Range at the time of entry.
💡 How to Use:
→ Choose 'ATR Take Profit' for TP price determination using ATR.
⚙️ Enable ATR Limit Entry:
🎯 Purpose:
→ Trade can not open in candle close price. Price should hit target price that based on average true range value.
💡 How to Use:
→ Choose 'ATR Limit Entry' for entry price determination using ATR.
⛓ Enable ATR Limit Entry Trailing Price:
→ Dynamically updates the entry price with each new bar, according to the Average True Range.
→ Activate 'ATR Limit Entry Trailing Price'.
→ Set the ATR Period to define the number of bars for ATR calculation.
→ Adjust the ATR SL Multiplier to determine the stop loss distance.
→ Modify the ATR TP Multiplier for setting the take profit distance.
█ TREND FILTERING SETTINGS
Trend Filtering Settings are designed to align trading strategies with the prevailing market trend, enhancing the precision of trade entries and exits. These settings utilize moving averages for trend analysis and decision-making.
Features:
⚙️ Enable Moving Average Filtering:
🎯 Purpose:
→ Limits trades based on moving average trends, blocking short trades in an uptrend and vice versa.
💡 How to Use:
→ Enable 'Trend Filtering'.
→ Set Fast and Slow MA Lengths for trend analysis.
→ Select the Timeframe for moving averages.
→ Choose the Moving Average Type for trend filtering.
🎯 Note:
→ Be cautious with timeframe selections; lower timeframes than the base may cause inconsistencies.
⛓ Exit on Trend Reversal:
→ Automatically closes a position when a market trend reversal is detected.
→ Turn on 'Exit on Trend Reversal' in the settings.
⛓ Ignore Counter Signals:
→ Ignores counter signals during trending market way.
→ If the trend way is long. All short signals will ignore and vice versa.
⛓ Enable Drawing On Chart:
→ Visually represents the trend filter directly on the chart for easy reference.
→ Activate 'Drawing On Chart' to see the trend filter overlaid on the trading chart.
⚙️ Enable Adx Filtering:
🎯 Purpose:
→ Limits trades based on adx value, blocking trades if trend strength is not enough or vice versa for invert mode.
💡 How to Use:
→ Enable 'Adx Filtering'.
→ Set Smoothing and Lengths for adx trend analysis.
→ Select level barrier for trend strength.
⚙️ Enable Custom Filtering:
🎯 Purpose:
→ Limits trades based on custom sources, blocking trades according to custom trades.
💡 How to Use:
→ Enable 'Custom Filtering'.
→ Select fast source.
→ Select slow source.
→ Enable lag mode.
█ MEAN REVERSION FILTERING SETTINGS
Mean Reversion Filtering Settings are designed to align trading strategies during accumulation market conditions. They set a distance from a line to permit trading. The purpose is to ensure that when the price strays too far from the mean line, it should revert back. In accumulation markets, price movements are generally horizontal. In such situations, mean reversion will operate like a grid, enabling profitable trades with low drawdown. However, when the market structure begins to trend, mean reversion filters may not be as profitable as in accumulation markets. For instance, let's say the price is rising and we are shorting the market until it reaches the mean price line. As the price goes up and the mean also rises, we will end up closing the position at a higher price, rendering the mean reversion system non-profitable. Therefore, consider this filter wisely; greater distances might work better in trending markets.
Features:
⚙️ Enable Kairi Filter:
🎯 Purpose:
→ Blocks trades based on distance percent between price and moving average.
💡 How to Use:
→ Enable 'Kairi Filter'.
→ Set Length and Distance Percent.
⛓ Enable Trend Drawing On Chart:
→ Visually represents the trend filter directly on the chart for easy reference.
→ Enable 'Drawing On Chart' to see the allowed regions overlaid on the trading chart with arrows.
⚙️ Enable VWAP Filter:
🎯 Purpose:
→ Blocks trades based on distance percent between price and volume weighted average price.
💡 How to Use:
→ Enable 'VWAP Filter'.
→ Set Timeframe as minutes and distance as percent.
⛓ Exit on Crossing with VWAP:
→ Automatically closes a position when the closing price of a candle crosses the VWAP.
→ Choose "Enable", 'Exit on Crossing with VWAP' in the settings.
⛓ Enable Drawing On Chart:
→ Visually represents the trend filter directly on the chart for easy reference.
→ Enable 'Drawing On Chart' to see the allowed regions overlaid on the trading chart with arrows.
█ LIQUIDATION FILTER SETTINGS
Liquidation filter compares the volume data of futures and spot markets.
Large differences in volume indicate unexpected market conditions, such as massive trading activities, which may signal liquidations.
Features:
⚙️ Enable Liquidation Filter:
🎯 Purpose:
→ Blocks trades based on extra ordinary volume differences in spot and futures market.
💡 How to Use:
→ Enable 'Liquidation Filter'.
→ Set behavior to react during that market conditions.
→ Set base amount to filter volume. This amount changes according to timeframe, you should find right amounts.
→ Liquidation candle count means, it is sum of liquidated candle count in last 20 bars.If you set 0, it means feature is disabled.
→ Detection, try to select the spot and perpetual symbols automatically, symbol names varies, it do not support all symbols, you should choose manually in that situation.
█ AUTOMATED ALERT SETTINGS
Automated Alert Settings are designed to integrate your TradingView script with webhook alerts. These settings allow for enhanced strategy execution and management.
Features:
Enable Webhook Alerts:
🎯 Purpose:
→ Trigger BUY, SELL, CHANGE_DIRECTION or MOVE_STOP_LOSS .
💡 How to Use:
→ Enable 'Webhook Alerts' in the settings.
→ Enter your Strategy Key.
→ Optionally, activate 'Override Allocation Percentage' to bypass the preset allocation percentage.
☢️ Caution:
→ Overriding the allocation percentage may result in trade entry errors due to misalignment between entry cost and available balance.
Enable Custom Alerts:
🎯 Purpose:
→ User can produce unique messages for different purposes.
💡 How to Use:
→ Enable 'Custom Alerts' in the settings.
→ Enter your message format type.
█ DEBUGGING SETTINGS
Debugging Settings are crucial for users who want to analyze and optimize their strategies. These settings provide tools for visualizing alerts on charts and accessing detailed data outputs.
Features:
⚙️ Enable Alert Plotting:
🎯 Purpose:
→ Allows users to visualize trading alerts directly on the chart, aiding in strategy analysis and refinement.
💡 How to Use:
→ Activate 'Alert Plotting' to draw alerts on the chart.
☢️ Caution:
→ It is recommended to disable this feature when creating actual trading alerts, as it can cause latency in signal processing.
⚙️ Enable Debugger Mode:
🎯 Purpose:
→ Facilitates strategy debugging by providing detailed data output in the TradingView Data Window.
💡 How to Use:
→ Turn on 'Debugger Mode' to access real-time data and metrics relevant to your strategy.
⚙️ Enable Table:
🎯 Purpose:
→ Facilitates strategy debugging by providing detailed data output in the TradingView Table on chart.
💡 How to Use:
→ Turn on 'Table' to access last closed candle data and metrics relevant to your strategy.
█ ADDITIONAL SETTINGS
⚙️ Enable Bar Magnifier
⚙️ Enable Using standard OHLC
Gradient Candles
The Gradient Candles indicator is crafted to be a comprehensive replacement for default candlesticks, offering users an enhanced and visually stunning alternative. To experience the intended results and fully immerse in the distinctive features of Gradient Candles, it's recommended to hide the default candlesticks. This ensures that traders can fully appreciate the unique color gradient and dynamic visual representation that this indicator brings to chart analysis.
Designed to elevate chart analysis, Gradient Candles not only offer a fresh perspective on price movements but also captivate users with their visually appealing representation of market dynamics. Departing from traditional candlestick coloration, the dynamic adaptation of colors, the 'color.from_gradient()' function plays a pivotal role in translating the current source value into a color that reflects its proximity to the highest and lowest values and corresponding colors. Beyond its analytical capabilities, Gradient Candles transform market analysis into an aesthetically enriching experience, providing traders with a unique and comprehensive tool for their technical analysis toolkit.
Traders can tailor the indicator's appearance to suit their preferences and seamlessly integrate it into their personal trading environment. From color inversion to transparency adjustments and the option to fill candles instead of outlining them, the customization features empower users to create a visual representation that aligns precisely with their unique preferences.
Three Inside [TradingFinder] 3 Inside Up & Down Chart Patterns🔵 Introduction
"3 inside up" and "3 inside down" denote a duo of candlestick reversal patterns, each comprising three individual candles, commonly observed on candlestick charts.
These patterns manifest as a sequence of three candles, signaling a potential loss of momentum in the current trend and a potential reversal in direction.
This pattern consists of 3 consecutive candles and can be either "bullish" or "bearish".
In the bullish pattern, known as "Inside Up," emerging at the conclusion of a downtrend, the final candle must exhibit bullish characteristics, while the third candle from the end must display bearish traits.
Conversely, in the bearish pattern, termed "Inside Down," occurring at the culmination of an uptrend, the last candle must demonstrate bearish behavior, with the third candle from the end reflecting bullish attributes.
🔵 How to Use
Using this indicator is very simple. Filtering "Strong 3 Inside Bar" and "Weak 3 Inside Bar" is a feature available in the settings section. You can turn the filter "On" or "Off." By default, the "Filter" is set to "On."
" Filter: On ":
" Filter: Off ":
🔵 How to Display
For better display and differentiation of "Strong 3 Inside Bar" and "Weak 3 Inside Bar," when the "Filter: On" is active, the 3 Inside Bars are displayed in green and red colors. When the "Filter: Off" is active, the 3 Inside Bars are displayed in blue and black colors.
Correlation Coefficient Colored CandlesThis script utilizes Tradingview's built in Correlation Coefficient indicator to calculate the correlation coefficient between two assets and changes candle colors based on the related data.
Info From Correlation Coefficient Indicator:
Correlation Coefficient (CC) is used in statistics to measure the correlation between two sets of data. In the trading world, the data sets would be stocks, etf's or any other financial instrument. The correlation between two financial instruments, simply put, is the degree in which they are related. Correlation is based on a scale of 1 to -1. The closer the Correlation Coefficient is to 1, the higher their positive correlation. The instruments will move up and down together. The higher the Correlation efficient is to -1, the more they move in opposite directions. A value at 0 indicates that there is no correlation.
This indicator allows for choosing the correlated asset, between direct and inverse correlation, the length of the series, and the correlation factor that will trigger the candles to change colors.
Example 1: You choose Direct correlation with a factor of 0.75, the candles that fall below that correlation factor will paint in your desired colors based on their closing price (up or down).
Example 2: You choose Inverse correlation with a factor of -0.75, the candles that rise above that correlation factor will paint in your desired colors based on their closing price (up or down).
Chart Shows Direct correlation of DXY and US10Y with length 3 and correlation factor of 0.75
Daily Range AnalysisThis indicator helps quickly identify if a stock is making a "price expansion" or a "price contraction". If today's range is larger than yesterday, then the stock is having a price expansion. This will be represented with a positive number. If today's range is smaller, the stock is making a contraction, and the indicator will display a negative number.
Indicator Features:
1. **Dark and Light Themes**: Users can choose between dark and light themes based on their preference. Dark themes are easier on the eyes in low-light conditions, reducing eye strain, while light themes are more suitable for well-lit environments.
2. **Customizable Text Colors**: Users can customize the text color for each data element displayed in the table. Customization allows users to tailor the appearance of the indicator to their liking and enhance readability.
3. **Show/Hide Data Options**: Users have the flexibility to show or hide each data element in the table individually. This feature enables users to focus on specific information they find most relevant, decluttering the chart and improving readability.
4. **Daily Range Analysis**: The script calculates and displays important metrics related to the daily price range of a financial instrument. These metrics include:
- Closing Range: Percentage indicating how close the closing price is to the daily low relative to the daily range. Helps traders assess where the closing price lies within the day's price action.
- Range Expansion: Percentage indicating the change in the daily price range compared to the previous day. Useful for identifying potential volatility shifts and trend continuation or reversal.
- StopH: Price level representing the midpoint between the day's open and close, commonly used as a reference for setting stop-loss orders.
- StopL: The low of the day, providing information about the lowest price reached during the trading session. Some traders like to use the Low of Day as a Stop Loss.
Overall, this script provides traders with essential insights into daily price movements, enabling them to make more informed trading decisions based on key price action metrics. The customization options enhance user experience and adaptability, catering to individual preferences and trading styles
DCA StrategyIntroducing the DCA Strategy, a powerful tool for identifying long entry and exit opportunities in uptrending assets like cryptocurrencies, stocks, and gold. This strategy leverages the Heikin Ashi candlestick pattern and the RSI indicator to navigate potential price swings.
Core Functionality:
Buy Signal : A buy signal is generated when a bullish (green) Heikin Ashi candle appears after a bearish (red) one, indicating a potential reversal in a downtrend. Additionally, the RSI must be below a user-defined threshold (default: 85) to prevent buying overbought assets.
Sell Signal : The strategy exits the trade when the RSI surpasses the user-defined exit level (default: 85), suggesting the asset might be overbought.
Backtesting Flexibility : Users can customize the backtesting period by specifying the start and end years.
Key Advantages:
Trend-Following: Designed specifically for uptrending assets, aiming to capture profitable price movements.
Dynamic RSI Integration: The RSI indicator helps refine entry signals by avoiding overbought situations.
User-Defined Parameters: Allows customization of exit thresholds and backtesting periods to suit individual trading preferences.
Commission and Slippage: The script factors in realistic commission fees (0.1%) and slippage (2%) for a more accurate backtesting experience.
Beats Buy-and-Hold: Backtesting suggests this strategy outperforms a simple buy-and-hold approach in uptrending markets.
Overall, the DCA Strategy offers a valuable approach for traders seeking to capitalize on long opportunities in trending markets with the help of Heikin Ashi candles and RSI confirmation.
