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Candlestick analysis

TTP Green/Red Consecutive CandlesThis indicator counts consecutive green/red candles offering some basic statistics and signals/alerts. Features - Counts consecutive green/red candles in an oscillator chart - Moving average of the counting helps spotting when the consecutive candles are away from the mean. MA length and multiplier to adjust the signal sensitivity. - Thresholds can be set to backtest and send alerts on any number of arbitrary consecutive candles of the same color. - All time highs: the indicator keeps track of when the maximum has been reached - Distribution data: the number of times each number of consecutive color candles has been reached is offered Signals - Threshold signal triggers when the number of candles of the same color is above the specified threshold. - MA cross signal triggers when the number of candles of the same color is above the MA.
Pine Script™ indicator
by TheTradingParrot
Indecision Candle FinderIndecision Candle Finder, is a simple indicator for quickly identifying indecision candles. What does Indecision Candle Finder Indicator Does? This indicator enables quick and easy identification of indecision candles. When an indecision candle appears on a chart, this indicator identifies this candle with either a red circle for a bearish indecision candle, or a green circle for bullish indecision candle. What is an indecision candle? Indecision candles are relatively small and opposite direction candles that appear between two equal direction candles on a trending market. These candles usually have a smaller body than their wicks and can appear on any timeframe. How to use Indecision Candle Finder Properly? Indecision candles by definition indicate indecisiveness in the market. These are areas where some traders, especially the smart money do trades opposite to the market direction. On a trending market, these areas may work as resistance/support zones when the trend changes or the market makes a correction. Indecision Candles especially work well on higher timeframes. Example #1 In this graph, we can see a valid example of an indecision candle. A relatively small bearish candle appearing on a trending market. This zone worked as a resistance zone when the trend changes.
Pine Script™ indicator
by LordBarlord
1
Buy/Sell EMA CrossoverThe indicator identifies potential trading opportunities within the market. It is entirely based on the combination of exponential moving averages by drawing triangles on the chart that identify buy or sell signals combined with vertical bars that create areas of interest. Specifically, when a buy signal occurs, the indicator draws a vertical bar with an azure background, indicating a possible buy area. Similarly, a sell signal is represented by a vertical bar with a fuchsia background, indicating a possible sell area. These areas represent the main point of the indicator which uses exponential moving averages which, based on the direction of prices, identify the trend and color the background of the graph in order to visually highlight the predominant trend. The green triangles above the bars of the chart suggest possible upside opportunities (good bullish entry points) when the 21 ema crosses the 200 ema. While on the contrary the red triangles, 21 ema lower than the 200 ema, can indicate possible bearish trends (good bearish entry points). While the white and purple triangles reveal moments of potential indecision or market change. We can think of them as situations of uncertain trend in which it is possible to place a long or short order near some conditions that we are going to see. The white triangles below, which are created when the 13 ema is higher than the 21 ema, indicate a possible bullish zone while the purple triangles above (13 ema lower than the 21) could suggest a bearish reflex Colored lines represent moving averages blue = 200, 21= fuchsia and 13 = white. If the price is above the 200 period line then it could be a bullish opportunity, otherwise it could be a bearish one. An interesting strategy to adopt is to evaluate, for example, the inputs near the vertical bars (azure - long) (fuchsia - short) when a white or purple triangle appears. The more prominent green triangle indicates that the trend is going in a long direction. On the contrary, the red (short) triangles are the opposite of the green ones and have the same importance as input logic. The white triangle instead present more often inside the indicator identifies interesting buying areas of short duration, it is important to consider that the closer the triangles are to the vertical blue bars the stronger the entry signal. Finally, the purple triangles are the short-term bearish trends whose entry near the fuchsia vertical bars defines a short.
Pine Script™ indicator
by AleSaira
CCPD Candle Color Price DetectorThe "CCPD Candle Color Price Detector" is a custom indicator developed for TradingView, a popular platform for technical analysis and trading. This indicator assists traders in identifying potential trend reversals and assessing market sentiment based on candlestick color changes and key price levels. This indicator operates as follows: Color Change Detection: It primarily focuses on the color of candlesticks (green for bullish and red for bearish). When a candlestick closes higher than it opens, it is considered green (bullish), and when it closes lower, it is red (bearish). High and Low Analysis: The indicator calculates the highest high and lowest low over a user-defined number of bars (specified by the 'Bars for High/Low' input parameter). This helps identify recent price extremes. Midpoint Calculation: It then computes the midpoint between the highest high and lowest low, effectively determining a central reference point within the specified period. Signal Generation: Buy and sell signals are generated based on the relationship between the current candlestick's close price, the midpoint, and the candlestick color. Buy signals occur when a green candle closes above the midpoint, suggesting potential bullish momentum. Conversely, sell signals trigger when a red candle closes below the midpoint, indicating possible bearish pressure. Visualization: The indicator visualizes the highest high, lowest low, midpoint, and additional lines to aid in understanding the price action and potential reversal points. Alerts: It provides alerts for buy and sell signals, allowing traders to receive notifications when potential trading opportunities arise. Usage: Traders can utilize the "CCPD Candle Color Price Detector" in the following ways: Trend Reversal Identification: This indicator can help traders spot potential trend reversals by signaling when candlestick colors change and close near the midpoint. Buy and sell signals offer entry points for trades based on these reversals. Confirmation Tool: It can be used in conjunction with other technical analysis tools to confirm trading decisions. For example, a buy signal from this indicator, coupled with a bullish trendline break or a bounce from a key support level, may provide a stronger bullish signal. Risk Management: By understanding potential reversal points and using stop-loss orders, traders can better manage their risk and protect their capital when entering positions based on the indicator's signals. Customization: The indicator allows users to adjust the number of bars for high/low calculations, making it adaptable to different trading strategies and timeframes. In summary, the "CCPD Candle Color Price Detector" is a versatile indicator that can aid traders in spotting potential trend changes, enhancing trading decisions, and managing risk effectively. However, like any trading tool, it should be used in conjunction with other analysis methods and risk management strategies for optimal results.
Pine Script™ indicator
by KingForexBob
Choose Symbol, candle and line modeThis indicator plots candlesticks or line charts based on user-specified symbol and price data in the time frame. The user can also choose whether this indicator works in normal mode or Heikin-Ashi mode. Here are the features of this indicator: 1. **Trend and Normal Modes:** User can choose to operate the indicator in two different modes. In "Trend Mode" the indicator plots the moving average of the price based on the specified period length. In the "Normal Mode", it draws the opening, high, low and closing prices similar to the Heikin-Ashi candlesticks. 2. **Time Zone Selection:** User can select a different time zone to operate this indicator. By default, the current chart timeframe is used. 3. **Symbol Selection:** The indicator uses the price data from the specified symbol. The user can specify the symbol in the format "SYMBOL:PAIR". 4. **Buy-Sell Signals:** The indicator identifies buy and sell signals based on a certain period length. A buy signal occurs when the price goes above the line, while a sell signal occurs when the price goes below the line. 5. **Buy-Sell Alerts:** Alerts are sent to the user for buying and selling signals. 6. **Display on Chart:** The indicator draws candlesticks or line chart with specified modes and colors. It also marks the buying and selling points on the chart. This indicator is used to analyze price movements in the specified symbol and time frame and to assist in buying and selling decisions. It has a user-friendly and customizable interface. It is for idea purposes only, does not contain investment advice.
Pine Script™ indicator
by erdas0
[GTH decimals heatmap] (wide screen advised)Preface I share my personal general view on indicators below; skip ahead to the Description below if you are not interested. It is my personal conviction that most - if not all - indicators rely mainly on trader's belief that they work, and in a feedback system like free markets they might become a self-fulfilling prophecy as a result, if (!) a big part of the traders believes in it, because some famous trader releases an indicator, or such person's public statement goes viral. One of those voodoo indicators is the famous "follow-through day". There is zero statistical evidence for its validity, beyond the validity of a statement like "If it's bright at day it's usually the sun shining". The uselessness was proven exactly on its inventor's YT channel, Investors Business Daily. According to the examiner, its inventor William J. O'Neil himself could not explain the values used for this indicator. It might have been an incidental observation at some point without general validity. A.k.a "curve fitting". Still, it's being used by many today. Another one of those indicators is the three points reversal on the S&P 500 Volatility Index (VIX) which allegedly might potentially maybe indicate a possible shift in trend. Both indicators share an immediately problematic feature: They use absolute values. Nothing is ever absolute in a highly subjective and emotionally driven game like the markets where a lot of money can be made and lost. Most indicators can not produce additional information since they can only re-pack price/volume action. Many times an interpretion of the distance between price and a moving average and/or the slope of a moving average deliver very similar - if not better - results than MACD, RSI etc., especially with standard settings, the origin of which are usually unknown (always a warning sign). Very few indicators can deliver information which is otherwise hard to quantify, e. g. market noise (Kaufman's Efficiency Ratio or Price Density) or volatility, standard deviation etc. It is common knowledge that trading the markets is a game of probability. No indicator works all the time (or at all, see above). In order to make decisions based on any indicator, the probability for its validity and the conditions under which validity seemed to have occurred, must be known. Otherwise it is just coffee grounds reading under the illusion of adding to the edge, when in fact it is only adding to the trees, making it even harder to see the forest. Description A common belief is that whole or half-dollar prices tend to be attraction points in price action, so a number of traders include those into decision making. But are they really...? Spoiler Alert: Generally, it is safe to say that for the big majority of stocks there is very thin evidence for it. It depends vastly on the asset, the timeframe used and the market period (pre/post/main trading times). If at all, there seems to be an above random but still thin evidence for whole prices being significant attraction points. Interesting/surprising patterns are visible on many stocks/timeframes/session periods, though. The screenshot shows TSLA, 30m timeframe, two heatmaps added. The top one shows pre/post-market data only, the bottom one main market data only. The cyan fields indicate the strongest occurrence, the dark blue fields indicate the weakest occurrence of open/high/low/close prices at the respective decimal. The red field indicates the current/last price decimal. Clearly, TSLA displays a strong pre-market attraction for .00, followed by .33 and .67 and .50. This pattern of thirds seems to be a unique feature of TSLA. In the main trading session it is being diluted by a more random distribution. Other interesting equities to examine: SPY: No significant pattern on any timeframe! META: Generally weak patterns on all timeframes, but interestingly on the 1D there is evidence for less randomness on O and H, more on L and most on C. AAPL: 1D, foggy attraction areas around .35 and .12. Whole price is no attraction area at all! Very weak attraction around .73. AMD: Strong pattern on D, W, M, attraction areas around 1/16th intervals. No patterns on lower timeframes. AMZN: Significant differences between pre/post and main session. Strong 1/16th pattern below D in pre/post. TAOP: Strong 1/5th pattern on all timeframes. Read the tool tips and go explore!
Pine Script™ indicator
by gehteha
Liquidity Concepts [BigBeluga]The Liquidity Concepts indicator is designed to represent the liquidity on the chart using pivot points as potential stop-losses / liquidity grabs. The indicator is facilitated by a market structure detector and pivot points to identify resting liquidity / stop-loss levels. A liquidity grab or a stop-loss hunt is when retail traders place their stop-loss orders at recent highs / most recent highs or lows. This is a spot where big players attempt to push the market to trigger all the stop-loss orders and gain a better entry in their favor. 🔶 CALCULATION The indicator uses the Higher Lower script made by @LonesomeTheBlue to determine these pivot points. When a pivot point is formed, it is displayed on the chart with the corresponding symbol (HH - HL - LH - LL). When one of these points is broken, a line is drawn between the pivot point and the candle that broke it. A liquidity grab is only recognized after it has occurred, and it is represented with a box showing all the candles that were involved in the sweep / stop-loss hunt. A pivot point is established only after the selected lookback period and cannot be printed beforehand in any manner. This ensures that it captures the highest point within the lookback period following the candle formation. An HL (Higher Low) point is established when it is lower than an HH (Higher High) point, whereas an LH (Lower High) point is established when it is higher than an LL (Lower Low) point. Boxes are formed in two different types: Major and Minor. - Major boxes occur when LH or HL points are breached, with their high or low point crossing above or below in the specific lookback period. - Minor boxes occur when HH or LL points are breached, with their high or low point crossing above or below in the specific lookback period. Minor points are less efficient since they represent key highs and lows, and before taking out those liquidity levels, the HL and LH points should be cleared. Representation of Pivot Point Formation: Liquidity wicks are a minor representation of a stop-loss hunt during the retracement of a pivot point. This means that a pivot point is broken only by the wick and not by the entire body. Bigger wick = more liquidity Lower wick = less liquidity Liquidity wicks can be used as trade confirmation or targets for your entry to enhance accuracy. Users have the option to display candle coloring based on the currently detected trend. 🔶 VERIFICATION Users have the option to specify the verification length for when the liquidity should occur. This means that if the length is set to 7, the indicator will search for the liquidity formation within the last 7 candles; otherwise, it will be considered invalid. 🔶 CONCEPTS The whole idea is to help find possible zone of stop loss hunting helping having a better entry in our trading, we can utilize a lot more tools, and this shoud be used as confluence only 🔶 OPTIONS Users have complete control over the settings, allowing them to: - Disable pivot points. - Disable the display of boxes. - Disable liquidity wicks. - Customize colors to their preferences. - Adjust lookback settings for historical data analysis. - Modify candle coloring settings. - Adjust the text size of labels for better readability and customization. 🔶 RECAP Box => Represents liquidity formation / stop-loss hunt - Minor Box HH / LL point - Major Box LH / HL point Liquidity Wicks => Formed when a pivot point is broken only by the wick BOS / CHoCH => Calculated using the pivot points from the @LonesomeTheBlue script 🔶 RELATED SCRIPTS Price Action Concepts =>
Pine Script™ indicator
by BigBeluga
25
[TTI] Closing Range Indicator📜 ––––HISTORY & CREDITS–––– This Pine Script Utility indicator, titled " Closing Range Indicator," is designed and developed by TintinTrading but inspired by the teaching of Investor's Business Daily (IBD) and William O'Neil. It aims to help traders identify the closing range of a given timeframe, either daily or weekly. 🦄 –––UNIQUENESS––– The unique feature of this indicator lies in its ability to simulate a functionality of Closing Range calculation based on hovering of the mouse over the close. It employs a conditional display that allows the user to set the indicator as 'invisible' without removing it from the chart and hence provides a numerical closing range value when hovering over the indicator. 🛠️ ––––WHAT IT DOES–––– The Closing Range Indicator calculates the closing range of a trading bar in terms of percentages. It computes the difference between the closing price and the low price of the bar, and then divides it by the range of the bar. A stock that closes on the high would display 100% A stock that closes on the low would display 0% Generally, the higher the percentage the more bullish the close but there are exceptions to this rule. The indicator can operate on two timeframes: Daily : Computes the closing range based on the daily high, low, and closing prices. Weekly : Computes the closing range based on the weekly high, low, and closing prices. If you enable the weekly it will show the weekly close on all daily timeframes. Meaning that if the week Closing range is 54.15% on Friday, it will show the value 54.15% for all days prior to Friday from the same week. The indicator places a label at the close of each bar, with the label's tooltip showing the calculated closing range percentage. I generally hide the label and just reference the tooltip calculation with a a hoover on top of the bar. 💡 ––––HOW TO USE IT–––– Installation: Add the indicator to your TradingView chart by searching for " Closing Range Indicator" in the indicator library. Reorder: Reorder the indicator so that it sits as the first indicator (even above the price) on the Pane. This will make sure that you always trigger the tooltip functionality. Go to Settings: Timeframe: Choose between daily ('D') and weekly ('W') timeframes from the settings. Visibility: Enable the 'Make Invisible' option if you want the indicator to be hidden. Interpretation: A higher percentage indicates that the closing price is closer to the high of the range, signaling bullish sentiment. A lower percentage indicates bearish sentiment. Tooltip: Hover over the label to view the closing range in percentage terms.
Pine Script™ indicator
by TintinTrading
Candle Tick SizeHello everyone! I dont think it exists, I couldnt find it any way I searched, maybe it is part of a bigger indicator. This is a really basic code, all it does, it shows the tick/pip size of the candles forming. You can adjust on how many candles should it show. Also because the code counts the point size of the candles from high to low, you can adjust that how many ticks are in one point, like for ES and NQ 4 ticks to a point, which is the basic setting. It helps me with entrys when I calculate the contract size so my risk/reward stays pretty much the same depending on the candle size for my entrys.
Pine Script™ indicator
by c013ain
11
The Swinging Momentum IndicatorThe Swinging Momentum indicator is a custom trading indicator that looks at price momentum to identify potential buy and sell signals. It uses the rate of change in closing price over the last few bars to determine if momentum is increasing or decreasing. It also looks at the relationship of the close price to recent highs and lows, volume, and short term moving averages to confirm the strength of the momentum signal. The indicator has two main components - identifying initial buy and sell signals, and then rating the strength of those signals. For buys, it looks for an increase in closing price momentum along with a close above recent highs and highest volume. For sells, it looks for a decrease in momentum and close below recent lows and highest volume. This identifies the initial signal without too many false signals. It then looks at multiple factors to grade the strength of the signal, on a scale of 0 to 3. For buys it looks at how the close compares to the open, high and low of the last 4 bars, if the current low is above the recent low, and if there are more gaining days than losing days recently. For sells it looks at the close versus the open/high/low, if the current high is below the recent high, and if there are more losing than gaining days. Each condition met adds 1 point to the strength rating. A rating above 2 is considered a strong momentum signal. This filters out weaker signals and reduces whipsaws. The end result is plotted on the chart. Buy signals are triangles pointing up below the bars, sells are triangles pointing down above the bars. The colors help visualize the strength - strong signals are green for buys and red for sells, while weaker signals are yellow. Trading with the Swinging Momentum indicator is straightforward. Strong buy signals identify upside momentum, so traders would look to enter long positions on a retest of the buy signal bar high. Strong sell signals identify downside momentum, so short positions can be entered on a retest of the bar low. Stops are placed beyond recent swing points in the opposite direction of the trade. Since momentum can quickly change, risk management is key. Traders should look for other confirming indicators to strengthen the probability of a momentum trade working out. Good additional indicators to use with momentum include volume, trends, support/resistance and volatility measures. The advantage of the Swinging Momentum indicator is that isolating the strongest momentum moves helps traders focus on higher probability trade setups. Monitoring both the initial signal and the strength rating gives an added level of confidence compared to standard momentum indicators. This custom indicator combines multiple momentum strategies into one, allowing traders to quickly identify and evaluate momentum opportunities on the chart. Used appropriately with sound risk management, the Swinging Momentum indicator can be a valuable addition to a trading system. It visualizes both the direction and strength of momentum, key factors when trading trends and breakouts. While no indicator is perfect, understanding and utilizing momentum is a key concept for traders to master. This indicator provides a graphical representation to improve the way momentum is incorporated into trading decisions.
Pine Script™ indicator
by durunvo
1
Sideways Market Identifier (FinnoVent)The Sideways Market Identifier (SMI Indicator) aims to identify when the market is trading in a sideways pattern. This is particularly useful for traders who specialize in range-bound strategies or those looking to avoid trading in choppy market conditions. The indicator changes the background and the color of the candles to grey when the conditions for a sideways market are met. How It Works The SMI Indicator combines three popular trading metrics: Bollinger Bands, the Average Directional Index (ADX), and the Relative Strength Index (RSI): Bollinger Bands: Checks if the close price is within a certain range of the middle Bollinger Band. Specifically, it checks if the close price is between the 20% and 80% range of the band's width. ADX: Helps to identify the strength of a trend. A value under 30 suggests that the market is not strongly trending in either direction. RSI: Measures the speed and change of price movements. A value between 40 and 60 suggests a lack of strong momentum. How to Use Apply the SMI Indicator to your chart. When the background and the candles turn grey, the market is likely in a sideways pattern. Disclaimer This indicator is intended for educational and analytical purposes only. It is not a recommendation to buy or sell any financial instrument. Always conduct your own analysis and consult with a financial advisor before making trading decisions.
Pine Script™ indicator
by FinnoVent
4
ICT Daily BiasThis indicator is based on ICT's teaching - Daily Bias. Indicator tries to predict which direction (bias) the price will move in the near future and it can tell you in which direction should you take trades on the lower timeframe (buy or sell). It works on every timeframe but best to use on 1D timeframe. It can also show historical Daily Biases. Daily Bias can be BUY, SELL or NEUTRAL. If there is NEUTRAL Daily Bias then you should not take any trade because following price direction is not clear until the Daily Bias changes to BUY or SELL. Current Daily Bias is shown in the right bottom corner. Daily Bias can be calculated by 2 types: Previous H/L or Previous Swing H/L. Previous H/L: This calculation is based on previous H/L. If actual candle reaches previous high (red line by default) or low (green line by default) with wick then price should reverse into opposite direction. If actual candle closes with body above previous high (green line by default) or below previous low (red line by default) then price should continue in current direction. There are also colorful arrows showing the following daily bias based on previous candle. Previous Swing H/L: This calculation is based on previous untested swing H/L. If actual candle reaches previous untested swing high (red line by default) or low (green line by default) with wick then price should reverse into opposite direction. If actual candle closes with body above previous untested swing high (green line by default) or below previous untested swing low (red line by default) then price should continue in current direction. Lookleft and lookright period (default: 3) for swing H/L can be set in indicator settings. This period tells you how many candles left and right from the swing H/L need to be higher (swing low) or lower (swing high). Previous tested swing H/L are labeled by colorful (yellow by default) diamonds. There are also colorful arrows showing the following daily bias based on previous tested swing H/L. All settings of this indicator should be self-explanatory and some of them have tooltips for better understanding.
Pine Script™ indicator
by majky
20
JK - Q SuiteThis indicator is primarily for identifying pauses in Stage 2 uptrends, modelled on Qullamaggie's style of trading, but fits well with many traders including William O' Neil. or Mark Minervini. I built this for my own purposes, and have gradually added range of tools into a single suite. My goal has also to be as clean as possible, while providing clear, actionable information. This suite includes all of the following: Moving averages (10, 20, 50, 200) Coloured bars showing tightening price (blue under 75% of ADR, orange under 50% of ADR) A 'markets' dashboard (top-right), showing the major indexes. Red if 10<20MA, or price <20MA A 'sectors' dashboard (top-right, below markets). Red if 5<10MA, or price <10MA - see note below Strength / Weakness information - two cells at the top, bottom-right. See below Stock information - glanceable stock info as quick filters. The thresholds for ADR, Average volume, and Dollar Volume can be customised. NOTE - if the 'tightening coloured candles' are not showing, the indicator needs to be at the top of the stack. Click the triple squares at the very bottom-right of the TradingView interface, and drag the indicator to the top, should work then! ============= Sectors These are based on the 11 official Sectors, tracked using index funds (XLY, XLK etc). HOWEVER, TradingView does NOT use the official 11 sectors - therefore I've done my best to match TradingViews ones to the official ones, but doesn't always work... e.g. 'Electronic Technology' is typically semiconductors, which are classes as 'Industrials', but Apple is the same sector in TV, but classed as 'Technology' using the official 11 Sectors. If TradingView move to use the official 11 I'll update this, but for now it's a best guess and will sometimes be wrong, sorry! Strength / Weakness information This was an experiment in trying not to give too much back to the market! Typically the strategy would be to sell if price closes below 10MA (Weakness), however there may be large pops that can be advantageous to sell into. The 'Strength' information (top cell, bottom-right), checks how far the price is extended above 10MA - this is customisable as a multiple of ADR. You may find that in weak markets (like now), it can be best to take profits quickly - in good markets, you could increase this as stocks make bigger or more sustained moves. ============= While I'm not the best coder - and I've hacked and tried and changed different things - this has been a labour of love and essential for me. If you have any suggestions, while I may or may not be able to implement them, I'm certainly open to ideas!
Pine Script™ indicator
by Se99jmk
16
Adjustable Bull Bear Candle Indicator (V1.2)Indicator Description: Adjustable Bull Bear Candle Indicator This indicator, named "Adjustable Bull Bear Candle Indicator ," is designed to assist traders in identifying potential bullish and bearish signals within price charts. It combines candlestick pattern analysis, moving average crossovers, and RSI (Relative Strength Index) conditions to offer insights into potential trading opportunities. Disclaimer: Trading involves substantial risk and is not suitable for every investor. This indicator is a tool designed to aid in technical analysis, but it does not guarantee successful trades. Always exercise your own judgment and seek professional advice before making any trading decisions. Key Features: Preceding Candles Analysis: The indicator examines the behavior of the previous 'n' candles to identify specific patterns that indicate bearish or bullish momentum. Candlestick Pattern and Momentum: It considers the relationship between the opening and closing prices of the current candle to determine if it's bullish or bearish. The indicator then assesses the absolute price difference and compares it to the cumulative absolute differences of preceding candles. Moving Averages: The indicator calculates two Simple Moving Averages (SMAs) – Close SMA and Far SMA – to help identify trends and crossovers in price movement. Relative Strength Index (RSI): RSI is used as an additional measure to gauge momentum. It analyzes the current price's magnitude of recent gains and losses and compares it to past data. Time Constraint: If enabled, the indicator operates within a specific time window defined by the user. This feature can help traders focus on specific market hours. Customizable Alerts: The indicator includes an alert system that can be enabled or disabled. You can also adjust the specific alert conditions to align with your trading strategy. How to Use: This indicator generates buy signals when specific conditions are met, including a bullish candlestick pattern, positive price difference, closing price above the SMAs, RSI above a threshold, preceding bearish candles, and optionally within a specified time window. Conversely, short signals are generated under conditions opposite to those of the buy signal. Disclosure and Risk Warning: Educational Tool: This indicator is meant for educational purposes and to aid traders in their technical analysis. It's not a trading strategy in itself. Risk of Loss: Trading carries inherent risks, including the potential for substantial loss. Always manage risk and consider using proper risk management techniques. Diversification: Do not rely solely on this indicator. A well-rounded trading approach includes fundamental analysis, risk management, and proper diversification. Consultation: It's strongly advised to consult with a financial professional before making any trading decisions. Conclusion: The "Bullish Candle after Bearish Candles with Momentum Indicator" can be a valuable tool in your technical analysis toolkit. However, successful trading requires a deep understanding of market dynamics, risk management, and continual learning. Use this indicator in conjunction with other tools and strategies to enhance your trading decisions. Remember that past performance is not indicative of future results. Always be cautious and informed when participating in the financial markets.
Pine Script™ indicator
by Soveriegn_SE
Are stop orders making money? [yohtza]Who is this indicator for and what does it do? This is an indicator that helps price action traders in determining the strength of the trend and potential counter trend traps that present themselves during the move. It highlights the background of the bar at which counter trend traders that trade with stop orders (breakout entries) were able to achieve the same amount of reward as was their risk for that trade. What is it based on? When there is a strong trend in effect, the counter trend traders are unable to buy above(in bear trend) or sell below (in bull trend) a bar with a stop order and get an equal reward for the risk they are taking. The first time counter trend traders are able to buy and make money in bear or sell and make money in bull it is a warning sign that market is likely transitioning into trading range phase of the market cycle. Another application of the indicator is for discovering potential traps. If market comes very close to the take profit level of counter trend traders and reverses, they will usually try to get out with as much profit or as small of a loss as possible and that will often create a fast move (also called giving up) and a good with trend entry. How does it work? The indicator is using exponential moving average as a filter for when the market is trending and then scans for signals where counter trend traders enter. Next it looks if the stoploss or profit target was hit for that trade. If the profit target was hit it draws a box around the bar on which the traders entered, the box height is based on stoploss and profit target price levels. Indicator inputs - Scan for doji signal bars When this option is selected, bars that have small bodies (less than 50% of their height) are also included as bars on which counter traders enter. If the option is not selected it only looks for bull trend bars (bodies are greater than 50% of their height) below the moving average and bear trend bars above the moving average. - Border and background colors and border style It is possible to select different colors and chose between solid, dashed and dotted borders - Ema period Default setting is 20 bar exponential moving average but feel free to use which you prefer - Tick value This is the value of the minimal movement of the chart you are trading on. For example for S&P 500 E-mini futures the value is 0.25 and that is the default setting.
Pine Script™ indicator
by yohtza
9
Super Cloud Support and Resistance Signal [5ema]This indicator can supply the trending and signal. ----- How to calculate? The cloud be create by the min/max of the EMA lines: + (avg(EMA(source, 20), EMA(source, 50), EMA(source, 200), EMA(source, 460), EMA(source, 610)) + with source = high / low / open and close. The signal bar is a reversal candle pattern such as engulfing, hammer, .... For avoid to against the trend, use the number left bars are completely above or below the cloud. ----- How to set up? Input the number left bars to get the number left bars are completely above or below the cloud. Its purpose is avoid to get signal against the trend. Can set it bigger than 2. Can filter the signal only buy or only sell to follow the current trend. ----- How to use? Refer the trend cloud: Can refer the signal: Make an alert when signal appear. ----- This indicator is for reference only, you need your own method and strategy. If you have any questions, please let me know in the comments.
Pine Script™ indicator
by vn5ema
Strategy:Reversal-CatcherWhat This is a plain and vanilla reversal based strategy for intraday (15m) timeframe on Futures prices of the assets. Now what all it comprises of? It finds out the dynamic support & resistance from Bollinger Band (20 period, 1.5 std dev). It finds out the potential divergence of price deviation from 5 period exponential moving average (EMA). If the previous candle (N-1) shows a divergence it confirms the reversal by checking the present candle (N) to be closed inside the Bollinger Band. It confirms the momentum by checking RSI shows a crossover/crossunder to oversold (30) / overbought (70) region. It also confirms whether the trend is up (then only reversal trade to short) or down (then only reversal trade to long). The trend is checked with EMA-21 and EMA-50. Re-affirmation Condition : It re-affirms the position of two successive candles called as `hhLLong` and `hhLLShort` in the script. Why In Indian context, retail participants are pre-dominantly (yes- 80% of Indian daily volume) Options buyers mainly in weekly indices (Nifty, BankNifty, FinNifty, CNXMidcap, Sensex, Bankx .. well everyday is expiry now in India, except -- Thank God -- Saturday & Sunday). And in Index Options the momentum plays a big role. If one can catch a good reversal point the potential of high Risk-to-Reward trade (hence earn handsomely) is very likely (please note: there is no holy grail in trading. Nothing works 100%). So this is the attempt to catch a reversal. Re-affirmation of Reversal hhLLong : It's a reversal point after an uptrend. It checks the relative positioning of current candle compared to that of previous candle. [The details are in the script. Check for variable hhLLong in script. hhLLShort : It's a reversal point after a downtrend. It checks the relative positioning of current candle compared to that of previous candle. [The details are in the script. Check for variable hhLLShort in script. Unique-ness What's unique in it? Why we decided to publicly share this: Already given the context of The Great Indian Options Buyers community. It should be helpful to them, we believe. It takes Very Less Number of Trades with High Accuracy . Please check the result in NSE:NIFTY1! in 15m timeframe. 71% accuracy with roughly a trade in a month. There is no point giving brokers' the brokerages taking 10 trades a day and ending not-so-good EoD. Better lets take less trades with better result possibility. . Mention There are many people uses this variation of Bolling Band, 5EMA Many people use RSI, trends and relative positioning of candles. --> We are grateful to all of them. It's really difficult to mention everyone's name. But all people somehow influence the thought process. Thanks for all of them. Statutory Disclaimer There is no silver bullet / holy grail in trading. Nothing works 100% time. One has to be careful about the loss (s)he can bear in case of the trade goes against. We, as the author of this script, is not responsible for any trading or position decision one is taken based on the outcome of this. It is our sole discretion to change, add, delete the portion or withdraw the whole script without any prior notice or intimation. In Indian Context : We are not SEBI registered, will never be SEBI registered.
Pine Script™ strategy
by pradipandsuvra
1
Forecast by ScanYourStratOverview : This indicator scans historical price data and focus on 3 main characteristics: 1. Momentum of the move 2. Volume changes 3. Proprietary candle scoring system (a scoring based on the candles open and close, wicks and color of the candle) After it analyzes the above 3 characteristics, it will find the pattern most closely to each one and will make an average Forecast which is the result you see on the chart. They can be all 3 in the same area or across historical data. The length of the price range that you want to analyze is user dependent, based on the Bar calculation length (see below on settings), and then will take the price movements that followed each of the 3 characteristics and It will project it into the future to provide potential price actions as an average forecast. As we all know, certain patterns and sequences, do repeat in the market. From these patterns we can try to forecast what will be the response based on previous data. The closer the past values to the historical data, the more likely the price will continue to move according to the same rules. How it works : Once you have set the Bar calculation length and the Forecast length, it will find the closest pattern that fulfills all 3 characteristics as above (either together or separate). Meaning, if you want to look at the last 10 candle bars on the current timeframe, the algorithm will find the pattern that resembles closest in momentum, volume, and candles scores to bring the forecast based on the movement that happened after those 10 candles (average of all 3). For the length of the forecast, you can choose how far into the future you want to look for. Calculations : The indicator works by scanning historical price data for the 3 characteristics above, and then forecast based on previous patterns. It uses mainly Pearson correlation calculation, but also, we have included Spearmen and cosine similarity equations to calculate different ways depending on the style of the trader. Essentially, the indicator takes the historical price moves that followed the pattern to forecast what might happen next. It will be an average of all 3 characteristics. Potential Pitfalls : This comes with certain problems, choose a pattern to small and you will have too many variables, choose a pattern too long and could limit the results that may not be statistically significant. Each person is encouraged to test depending on the timeframe that you trade. As you change the number of candles and calculations, it will change the forecast path. How to use : Each new candle will give you a forecast that may be new or consistent with previous candles. You cannot rely solely on this indicator as no indicator is 100%. Best strategy to work, is to already have some type of zone for demand or supply, or expansion zones or liquidity zones and use this indicator in conjunction to it. This indicator has been tested mainly on the 1 hour but will work on any timeframe. Best settings so far are with Pearson calculation and a length of 12 bars. The forecast line should not be used as an exact replica but more as a trend whether going up or down. The targets although sometimes close, the trader is not encouraged to use the line targets as their entry or stops but more using the above zones to help for those. In addition, the trader can use the option to average the last few candles forecast to see if the movement is consistent as well. Settings : - Bar calculation length : will be the X number of candles that the script will look in historical data that resembles the most. (Example chose 3 candles or 10, or 20) - Forecast length : how many X number of candles that the script will look forward (forecast). - Average forecast color : you can change the color of the forecast line. - Multi bar forecast : is a way to bring the previous forecast lines from past candles to see if there is a pattern without having to use the bar replay, the more you candles you choose, the more lines will be available but at the same time making it harder to see. - Average all on end bar : if you want to average all the forecast lines into one. You can choose the amount of candles that you want to average based on the multi bar forecast. Disclaimer : This is still an indicator that is being tested and in no way should be used alone. Currently will be in closed beta to find bugs and to work on accuracy. The information contained in this script does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My Scripts are only for educational purposes!
Pine Script™ indicator
by ScanYourStrat
1
Breakout Sideway Range [5ema]This indicator can find the breakout of sideway range. The range create by the bars inside the highest bar. Compared to my previous script name Breaking Bar , this one is different in important point: The Highest bar can be found at higher timeframe. No have opening candles of each session. ----- How to calculate? Find the bar have full body or full bar is highest on number left bars. The sideway range are bars inside highest bar. Find the bar breakout highest bar are reversal candle patterns. The highest bar can set up on higher timeframe. ----- How to set up? Change the input value of left bar to find the highest bar. Change the input value of right bar to find the inside bar of highest. Select the time frame to find the highest bar. Set "chart" if want to follow chart. Select the way find highest bar, by price high and low or open and close. ----- How to use? Choose the signal buy or sell or all. Change the color or range if want. Hidden, display, change color background of signal bar. Make the alert when signal appear. Refer the signal appear on chart: - Signal Sell: - Signal Buy: ----- This indicator is for reference only, you need your own method and strategy. If you have any questions, please let me know in the comments.
Pine Script™ indicator
by vn5ema
4
Baha'i Reversal Points [CC]The Baha'i Reversal Points is a custom creation that combines some of my favorite passions, creating stock indicator scripts and my faith. The Baha'i Faith believes in the oneness of God and all religions, and sees the number 9 as significant because that is the number of major world religions as well as the Baha'i symbol is a nine-pointed star. The number 19 is also seen as significant because in the Baha'i calendar, there are 19 months, and each month is made up of 19 days. Anyway, with all that being explained, I created these reversal points to find the points where the last 19 highs or lows are higher or lower, respectively than the previous high or low nine days ago. As with many indicators, this does have some hits and misses but does a pretty good job of finding reversal points based on these criteria. There are a few different ways to analyze this data to determine when to buy or sell. I have set the default behavior for when we encounter the first time that the amount of highs or lows is greater than or equal to the length amount using a crossover or crossunder alert. You could also ignore the crossover or crossunder alerts and buy when the count is greater than or equal to the length, which can happen for extended periods depending on the underlying trend. Overall, buy when the buy label appears and sell when the sell label appears. Let me know if there are any other custom indicators or scripts you would like to see me publish!
Pine Script™ indicator
by cheatcountry
3