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Centered Oscillators

Shadow Range IndexShadow Range Index (SRI) introduces a new concept to calculate momentum, shadow range. What is range? Traditionally, True Range (TR) is the current high minus the current low of each bar in the timeframe. This is often used successfully on its own in indicators, or as a moving average in ATR (Average True Range). To calculate range, SRI uses an innovative calculation of current bar range that also considers the previous bar. It calculates the difference between its maximum upward and maximum downward values over the number of bars the user chooses (by adjusting ‘Range lookback’). What is shadow range? True Range (TR) uses elements in its calculation (the highs and lows of the bar) that are also visible on the chart bars. Shadow range does not, though. SRI calculates shadow range in a similar formula to range, except that this time it works out the difference between the minimum upward and minimum downward movement. This movement is by its nature less than the maximums, hence a shadow of it. Although more subtle, shadow range is significant, because it is quantifiable, and goes in one direction or another. Finally, SRI smoothes shadow range and plots it as a histogram, and also smoothes and plots range as a signal line. Useful up and down triangles show trend changes, which optionally colour the chart bars. Here’s an example of a long trade setup: In summary, Shadow Range Index identifies and traces maximum and minimum bar range movement both up and down, and plots them as centred oscillators. The dynamics between the two can provide insights into the chart's performance and future direction. Credit to these authors, whose MA or filters form part of this script: @balipour - Super Smoother MA @cheatcountry - Hann window smoothing @AlgoAlpha - Gaussian filter
Pine Script™ indicator
by alphaXiom
6
MACD / Connectable [Azullian]Enhance your market insight with the MACD indicator. Monitor momentum to make more informed trading decisions, facilitating the development of stronger strategies. This connectable MACD indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy. █   UNIFORM SETTINGS AND A WAY OF WORK Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.  ■ Connectable indicators - Settings  • 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.  • ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.  • → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.  • ⌥ Flow: Determine where you want to receive signals from:     ○ Both: Weights from this indicator and the connected indicator will apply     ○ Indicator only: Only weights from this indicator will apply     ○ Input only: Only weights from the connected indicator will apply  • ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.  • ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.  • ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator. ■ Connectable indicators - Weight scoring settings ▢ Weight scoring conditions • SM – Signal mode: Enable specific conditions for weight scoring    ○ All: All signals will be scored.    ○ Entries only: Only entries will score.    ○ Exits only: Only exits will score.    ○ Entries & exits: Both entries and exits will score.    ○ Zone: Continuous scoring for each candle within the zone. • SP – Signal period: Defines a range of candles within which a signal can score. • SC - Signal count: Specifies the number of bars to retrospectively examine and score.    ○ Single: Score for a single occurrence    ○ All occurrences: Score for all occurrences    ○ Single + Threshold: Score for single occurrences within the signal period (SP)    ○ Every + Threshold: Score for all occurrences within the signal period (SP) ▢ Weight scoring direction • ES: Enter Short weight • XL: Exit long weight • EL: Enter Long weight • XS: Exit Short weight ▢ Weight scoring values • Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it. █ MACD - INDICATOR SETTINGS  ■ Main settings  • Enable/Disable Indicator: Toggle the entire indicator on or off.  • S - Source: Choose an alternative data source for the MACD calculation.  • T - Timeframe: Select an alternative timeframe for the MACD calculation.  • FL - Fast Length: Define the number of bars or periods used in the MACD calculation for the fast length.  • SL - Fast Length: Define the number of bars or periods used in the MACD calculation for the slow length.  • SM - Smoothing: Smooths the averaged MACD over a specified period.  • C - Condition Define the smoothing amount    ○ Above/Below zero: : Trigger when the MACD line is above or below zero    ○ All: : Trigger on all conditions  ■ MACD Scoring functionality   • The MACD scores long entries when it crosses above its smoothed value and is below the zero line.   • The MACD scores long exits when it crosses below its smoothed value after a long entry.   • The MACD scores long zones the entire time the MACD line is above its smoothed value and below zero.   • The MACD scores short entries when it crosses below its smoothed value and is above the zero line.   • The MACD scores short exits when it crosses above its smoothed value after a short entry.   • The MACD scores short zones the entire time the MACD line is below its smoothed value and above zero. █  PLOTTING  • Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.  • Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an MACD signaling over two times in 3 candles (scoring 6 each) triggers a larger icon. █ USAGE OF CONNECTABLE INDICATORS  ■ Connectable chaining mechanism Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.  • Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).  • Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.  ■ Set up this indicator with a signal filter and strategy The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, monitor, or strategy . Let's connect the MACD to a connectable signal filter and a strategy : 1. Load all relevant indicators  • Load MACD / Connectable  • Load Signal filter / Connectable  • Load Strategy / Connectable 2. Signal Filter: Connect the MACD to the Signal Filter  • Open the signal filter settings  • Choose one of the three input dropdowns (1→, 2→, 3→) and choose : MACD / Connectable: Signal Connector  • Toggle the enable box before the connected input to enable the incoming signal 3. Signal Filter: Update the filter signals settings if needed  • The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short). 4. Signal Filter: Update the weight threshold settings if needed  • All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)  • By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking. 5. Strategy: Connect the strategy to the signal filter in the strategy settings  • Select a strategy input → and select the Signal filter: Signal connector 6. Strategy: Enable filter compatible directions  • Set the signal mode of the strategy to a compatible direction with the signal filter. Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process! █ BENEFITS • Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach. • Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups. • Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code. • Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation. • Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision. • Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making. • Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility. • Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean. █ COMPATIBLE INDICATORS Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above. For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator. █ COMMON MISTAKES, CLARIFICATIONS AND TIPS  • Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.  • Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.  • Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.  • Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.  • Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.  • Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade. █ A NOTE OF GRATITUDE Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight. █ RISK DISCLAIMER Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
Pine Script™ indicator
by azullian
1
CCI / Connectable [Azullian]Sharpen your analysis of market trends with the CCI indicator. Effectively evaluate market cycles and identify potential reversals, enriching your strategic planning. This connectable CCI indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy. █   UNIFORM SETTINGS AND A WAY OF WORK Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.  ■ Connectable indicators - Settings  • 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.  • ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.  • → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.  • ⌥ Flow: Determine where you want to receive signals from:     ○ Both: Weights from this indicator and the connected indicator will apply     ○ Indicator only: Only weights from this indicator will apply     ○ Input only: Only weights from the connected indicator will apply  • ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.  • ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.  • ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator. ■ Connectable indicators - Weight scoring settings ▢ Weight scoring conditions • SM – Signal mode: Enable specific conditions for weight scoring    ○ All: All signals will be scored.    ○ Entries only: Only entries will score.    ○ Exits only: Only exits will score.    ○ Entries & exits: Both entries and exits will score.    ○ Zone: Continuous scoring for each candle within the zone. • SP – Signal period: Defines a range of candles within which a signal can score. • SC - Signal count: Specifies the number of bars to retrospectively examine and score.    ○ Single: Score for a single occurrence    ○ All occurrences: Score for all occurrences    ○ Single + Threshold: Score for single occurrences within the signal period (SP)    ○ Every + Threshold: Score for all occurrences within the signal period (SP) ▢ Weight scoring direction • ES: Enter Short weight • XL: Exit long weight • EL: Enter Long weight • XS: Exit Short weight ▢ Weight scoring values • Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it. █ CCI - INDICATOR SETTINGS  ■ Main settings  • Enable/Disable Indicator: Toggle the entire indicator on or off.  • S - Source: Choose an alternative data source for the CCI calculation.  • T - Timeframe: Select an alternative timeframe for the CCI calculation.  • LE - Length: Define the number of bars or periods used in the CCI calculation.  • OB - Overbought Level: Determine the CCI value at which overbought conditions are met.  • OS - Oversold Level: Specify the CCI value at which oversold conditions are met.  ■ Scoring functionality   • The CCI scores long entries when the CCI enters OS: oversold area   • The CCI scores long exits when the CCI exits OS: oversold area   • The CCI scores long zones the entire time the CCI is in OS: oversold area   • The CCI scores short entries when the CCI enters OB: overbought area   • The CCI scores short exits when the CCI exits OB: overbought area   • The CCI scores short zones the entire time the CCI is in OB: overbought area █  PLOTTING  • Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.  • Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an CCI signaling over two times in 3 candles (scoring 6 each) triggers a larger icon. █ USAGE OF CONNECTABLE INDICATORS  ■ Connectable chaining mechanism Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.  • Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).  • Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.  ■ Set up this indicator with a signal filter and strategy The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, monitor, or strategy . Let's connect the CCI to a connectable signal filter and a strategy : 1. Load all relevant indicators  • Load CCI / Connectable  • Load Signal filter / Connectable  • Load Strategy / Connectable 2. Signal Filter: Connect the CCI to the Signal Filter  • Open the signal filter settings  • Choose one of the three input dropdowns (1→, 2→, 3→) and choose : CCI / Connectable: Signal Connector  • Toggle the enable box before the connected input to enable the incoming signal 3. Signal Filter: Update the filter signals settings if needed  • The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short). 4. Signal Filter: Update the weight threshold settings if needed  • All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)  • By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking. 5. Strategy: Connect the strategy to the signal filter in the strategy settings  • Select a strategy input → and select the Signal filter: Signal connector 6. Strategy: Enable filter compatible directions  • Set the signal mode of the strategy to a compatible direction with the signal filter. Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process! █ BENEFITS • Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach. • Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups. • Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code. • Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation. • Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision. • Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making. • Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility. • Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean. █ COMPATIBLE INDICATORS Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above. For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator. █ COMMON MISTAKES, CLARIFICATIONS AND TIPS  • Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.  • Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.  • Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.  • Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.  • Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.  • Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade. █ A NOTE OF GRATITUDE Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight. █ RISK DISCLAIMER Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
Pine Script™ indicator
by azullian
1
Forex Multi-Factor IndicatorMoving Averages (MA): Two moving averages are plotted on the chart: a fast MA (blue line) and a slow MA (red line). The fast MA is calculated using a shorter period (10 periods by default), while the slow MA is calculated using a longer period (30 periods by default). Moving averages help identify trends by smoothing out price fluctuations. When the fast MA crosses above the slow MA, it suggests a bullish trend, and when the fast MA crosses below the slow MA, it suggests a bearish trend. Relative Strength Index (RSI): The RSI indicator (orange line) is plotted on a separate axis. RSI measures the speed and change of price movements and oscillates between 0 and 100. RSI values above 70 are considered overbought, indicating a potential reversal to the downside, while RSI values below 30 are considered oversold, indicating a potential reversal to the upside. Volume Moving Average (Volume MA): The volume moving average (purple line) is plotted on the same axis as the volume. The volume moving average is calculated over a specified period (20 periods by default). Volume analysis provides insights into the strength of price movements. When the volume increases along with price movements, it suggests strong conviction from traders. Buy and Sell Signals: Buy signals (green triangle) are generated when all of the following conditions are met: The fast MA crosses above the slow MA (indicating a bullish trend). The RSI is below the oversold level (indicating potential upward momentum). The current price is above the fast MA, and the volume is higher than the volume MA (indicating positive volume trend). Sell signals (red triangle) are generated when all of the following conditions are met: The fast MA crosses below the slow MA (indicating a bearish trend). The RSI is above the overbought level (indicating potential downward momentum). The current price is below the fast MA, and the volume is lower than the volume MA (indicating negative volume trend). Overall, this multi-factor indicator combines moving averages, RSI, and volume analysis to identify potential buying and selling opportunities in the Forex market. Traders can use the signals generated by this indicator as part of their trading strategy, but it's important to consider other factors such as risk management and market conditions before making trading decisions
Pine Script™ indicator
by griffinw18
CBO (Candle Bias Oscillator)The Candle Bias Oscillator (CBO) with volume and ATR scaling is a unique technical analysis tool designed to capture market sentiment through the analysis of candlestick patterns, volume momentum, and market volatility. This indicator is built on the foundation of assessing the bias within a candlestick's body and wicks, adjusted for market volatility using the Average True Range (ATR), and further refined by comparing the Rate of Change (ROC) in volume and the adjusted bias. The culmination of these calculations results in the CBO, a smoothed oscillator that highlights potential market turning points through divergence analysis. Key Features: Bias Calculations: Utilizes the relationship between the candle's body and wicks to determine the market's immediate bias, offering a nuanced view beyond simple price action. Have you ever wanted to quantify exactly how bullish or bearish a particular candle or candlestick pattern is? Whether it's dojis, hammers, engulfing, gravestones, evening morning star, three soldiers etc. you don't have to memorize 50 candlestick patterns anymore. Volatility Adjustment: Employs the ATR to adjust the bias calculation, ensuring the oscillator remains relevant across varying market conditions by accounting for volatility. Momentum and Divergence: Measures the momentum in volume and bias through ROC calculations, identifying divergence that may signal reversals or significant price movements. Signal Line: A smoothed version of the CBO, derived from its own values, serving as a benchmark for identifying potential crossovers and divergences. Utility and Application: The CBO with Divergence Scaling is developed for traders who seek a deeper understanding of market dynamics beyond price movements alone. It is particularly useful for identifying potential reversals or continuation patterns early, by highlighting divergence between market sentiment (as expressed through candlestick bias) and actual volume movements. In this way, it aligns us retail traders with institutional traders and smart money. This indicator is versatile and can be applied across various time frames and market instruments, offering value to both short-term traders and long-term investors. How to Use: Trend Identification: The direction and value of the CBO provide insights into the prevailing market trend. A positive oscillator value may indicate bullish sentiment, while a negative value suggests bearish sentiment. Signal Line Crossovers: Crossovers between the CBO and its signal line can be used as potential buy or sell signals. A crossover above the signal line might indicate a buying opportunity, whereas a crossover below could suggest a selling point. Divergence: Discrepancies between the CBO and price action (especially when confirmed by volume ROC) can highlight potential reversals. Customization and Parameters: This script allows users to adjust several parameters, including oscillator periods, signal line periods, ATR periods, and ROC periods for divergence, to best fit their trading strategy and the characteristics of the market they are analyzing. Conclusion: The Custom Bias Oscillator with Divergence Scaling is a comprehensive tool designed to offer traders a multi-faceted view of market conditions, combining elements of price action, volatility, and momentum. By integrating these aspects into a single indicator, it aims to provide a more rounded and actionable insight into market trends and potential turning points. To comply with best practices and ensure clarity regarding the informational nature of the Custom Bias Oscillator (CBO) tool, it's crucial to include a disclaimer about the non-advisory nature of the script. Here's a suitable disclaimer that you can add to the end of your script description or publication: Disclaimer: The Custom Bias Oscillator (CBO) with Divergence Scaling and its accompanying analysis are provided as tools for educational and informational purposes only and should not be construed as financial advice. The creator of this indicator does not guarantee any specific outcomes or profit, and all users should be aware of the risks involved in trading and investing. Users should conduct their own research and consult with a professional financial advisor before making any investment decisions. The use of this indicator is at the user's own risk, and the creator bears no responsibility for any direct or consequential loss arising from any use of this tool or the information provided herein.
Pine Script™ indicator
by Tradenometry
Donchian Channel Trend MeterInspired by the Chande Trend Meter (this is not the Chande Trend Meter), this indicator aims to show the trend so you can make trading decisions accordingly. This is calculated by looking at Donchian Channels over a number of lengths (20, 40, 60 periods, etc.), converting them to percent, and then applying a weighting and smoothing similar to the Know Sure Thing Indicator. This results in smooth trend line that is not disturbed by large fluctuations in price action. When the line is below 20%, you have a strong down trend. Values between 20 - 40% are a weak down trend. Values between 40 - 60% are no trend (slightly bullish or bearish if above or below 50%). Similarly, 60 - 80% is a weak uptrend, and above 80% is a strong uptrend. Trade signals can be turned on or off that correspond to crosses over 50%. It can be useful in spotting divergence.
Pine Script™ indicator
by grnghost
Adaptive Fisherized Z-scoreHello Fellas, It's time for a new adaptive fisherized indicator of me, where I apply adaptive length and more on a classic indicator. Today, I chose the Z-score, also called standard score, as indicator of interest. Special Features Advanced Smoothing: JMA, T3, Hann Window and Super Smoother Adaptive Length Algorithms: In-Phase Quadrature, Homodyne Discriminator, Median and Hilbert Transform Inverse Fisher Transform (IFT) Signals: Enter Long, Enter Short, Exit Long and Exit Short Bar Coloring: Presents the trade state as bar colors Band Levels: Changes the band levels Decision Making When you create such a mod you need to think about which concepts are the best to conclude. I decided to take Inverse Fisher Transform instead of normalization to make a version which fits to a fixed scale to avoid the usual distortion created by normalization. Moreover, I chose JMA, T3, Hann Window and Super Smoother, because JMA and T3 are the bleeding-edge MA's at the moment with the best balance of lag and responsiveness. Additionally, I chose Hann Window and Super Smoother because of their extraordinary smoothing capabilities and because Ehlers favours them. Furthermore, I decided to choose the half length of the dominant cycle instead of the full dominant cycle to make the indicator more responsive which is very important for a signal emitter like Z-score. Signal emitters always need to be faster or have the same speed as the filters they are combined with. Usage The Z-score is a low timeframe scalper which works best during choppy/ranging phases. The direction you should trade is determined by the last trend change. E.g. when the last trend change was from bearish market to bullish market and you are now in a choppy/ranging phase confirmed by e.g. Chop Zone or KAMA slope you want to do long trades. Interpretation The Z-score indicator is a momentum indicator which shows the number of standard deviations by which the value of a raw score (price/source) is above or below the mean value of what is being observed or measured. Easily explained, it is almost the same as Bollinger Bands with another visual representation form. Signals B -> Buy -> Z-score crosses above lower band S -> Short -> Z-score crosses below upper band BE -> Buy Exit -> Z-score crosses above 0 SE -> Sell Exit -> Z-score crosses below 0 If you were reading till here, thank you already. Now, follows a bunch of knowledge for people who don't know the concepts I talk about. T3 The T3 moving average, short for "Tim Tillson's Triple Exponential Moving Average," is a technical indicator used in financial markets and technical analysis to smooth out price data over a specific period. It was developed by Tim Tillson, a software project manager at Hewlett-Packard, with expertise in Mathematics and Computer Science. The T3 moving average is an enhancement of the traditional Exponential Moving Average (EMA) and aims to overcome some of its limitations. The primary goal of the T3 moving average is to provide a smoother representation of price trends while minimizing lag compared to other moving averages like Simple Moving Average (SMA), Weighted Moving Average (WMA), or EMA. To compute the T3 moving average, it involves a triple smoothing process using exponential moving averages. Here's how it works: Calculate the first exponential moving average (EMA1) of the price data over a specific period 'n.' Calculate the second exponential moving average (EMA2) of EMA1 using the same period 'n.' Calculate the third exponential moving average (EMA3) of EMA2 using the same period 'n.' The formula for the T3 moving average is as follows: T3 = 3 * (EMA1) - 3 * (EMA2) + (EMA3) By applying this triple smoothing process, the T3 moving average is intended to offer reduced noise and improved responsiveness to price trends. It achieves this by incorporating multiple time frames of the exponential moving averages, resulting in a more accurate representation of the underlying price action. JMA The Jurik Moving Average (JMA) is a technical indicator used in trading to predict price direction. Developed by Mark Jurik, it’s a type of weighted moving average that gives more weight to recent market data rather than past historical data. JMA is known for its superior noise elimination. It’s a causal, nonlinear, and adaptive filter, meaning it responds to changes in price action without introducing unnecessary lag. This makes JMA a world-class moving average that tracks and smooths price charts or any market-related time series with surprising agility. In comparison to other moving averages, such as the Exponential Moving Average (EMA), JMA is known to track fast price movement more accurately. This allows traders to apply their strategies to a more accurate picture of price action. Inverse Fisher Transform The Inverse Fisher Transform is a transform used in DSP to alter the Probability Distribution Function (PDF) of a signal or in our case of indicators. The result of using the Inverse Fisher Transform is that the output has a very high probability of being either +1 or –1. This bipolar probability distribution makes the Inverse Fisher Transform ideal for generating an indicator that provides clear buy and sell signals. Hann Window The Hann function (aka Hann Window) is named after the Austrian meteorologist Julius von Hann. It is a window function used to perform Hann smoothing. Super Smoother The Super Smoother uses a special mathematical process for the smoothing of data points. The Super Smoother is a technical analysis indicator designed to be smoother and with less lag than a traditional moving average. Adaptive Length Length based on the dominant cycle length measured by a "dominant cycle measurement" algorithm. Happy Trading! Best regards, simwai --- Credits to @cheatcountry @everget @loxx @DasanC @blackcat1402
Pine Script™ indicator
by simwai
3
ML - Momentum Index (Pivots)Building upon the innovative foundations laid by Zeiierman's Machine Learning Momentum Index (MLMI), this variation introduces a series of refinements and new features aimed at bolstering the model's predictive accuracy and responsiveness. Licensed under the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0), my adaptation seeks to enhance the original by offering a more nuanced approach to momentum-based trading. Key Features : Pivot-Based Analysis: Shifting focus from trend crosses to pivot points, this version employs pivot bars to offer a distinct perspective on market momentum, aiding in the identification of critical reversal points. Extended Parameter Set: By integrating additional parameters for making predictions, the model gains improved adaptability, allowing for finer tuning to match market conditions. Dataset Size Limitation: To ensure efficiency and mitigate the risk of calculation timeouts, a cap on the dataset size has been implemented, balancing between comprehensive historical analysis and computational agility. Enhanced Price Source Flexibility: Users can select between closing prices or (suggested) OHLC4 as the basis for calculations, tailoring the indicator to different analysis preferences and strategies. This adaptation not only inherits the robust framework of the original MLMI but also introduces innovations to enhance its utility in diverse trading scenarios. Whether you're looking to refine your short-term trading tactics or seeking stable indicators for long-term strategies, the ML - Momentum Index (Pivots) offers a versatile tool to navigate the complexities of the market. For a deeper understanding of the modifications and to leverage the full potential of this indicator, users are encouraged to explore the tooltips and documentation provided within the script. The Momentum Indicator calculations have been transitioned to the MLMomentumIndex library, simplifying the process of integration. Users can now seamlessly incorporate the momentumIndexPivots function into their scripts to conduct detailed momentum analysis with ease.
Pine Script™ indicator
by tkarolak
1
Relative Strength Scoring SystemRelative Strength Scoring System : Important prerequisite : This indicator can be loaded on any forex chart, i.e. a currency pair, but must not be loaded on any other asset due to certain market closures. The chart timeframe must be less than or equal to the trading timeframe, which is the indicator's first parameter. A timeframe equal to that of the "Trading Timeframe" parameter is preferable. Introduction : This indicator measures the relative strength of a currency against all other currencies using spread formulas. It gives an indication of which currencies are bullish, neutral or bearish. The ultimate aim of this indicator is to find out which pair will generate a higher probability of gain than the others by pairing the most bullish pair with the most bearish pair. Spread formulas : To find the relative strength of a currency compared with others, we use the following spreads formulas : USD = (FX:USDJPY/100+SAXO:USDEUR+FX:USDCHF+SAXO:USDGBP+FX:USDCAD+SAXO:USDAUD+FX_IDC:USDNZD)/7 JPY = (SAXO:JPYUSD/100+FX_IDC:JPYAUD/100+FX_IDC:JPYCAD/100+FX_IDC:JPYNZD/100+FX_IDC:JPYCHF/100+SAXO:JPYEUR/100+FX_IDC:JPYGBP/100)/7 CHF = (FX:CHFJPY/100+SAXO:CHFUSD+SAXO:CHFEUR+FX_IDC:CHFGBP+FX_IDC:CHFCAD+SAXO:CHFAUD+FX_IDC:CHFNZD)/7 EUR = (FX:EURJPY/100+FX:EURUSD+FX:EURCHF+FX:EURGBP+FX:EURCAD+FX:EURAUD+FX:EURNZD)/7 GBP = (FX:GBPJPY/100+FX:GBPUSD+FX:GBPCHF+SAXO:GBPEUR+FX:GBPCAD+FX:GBPAUD+FX:GBPNZD)/7 CAD = (FX:CADJPY/100+SAXO:CADUSD+FX:CADCHF+FX_IDC:CADGBP+SAXO:CADEUR+FX_IDC:CADAUD+FX_IDC:CADNZD)/7 AUD = (FX:AUDJPY/100+FX:AUDUSD+FX:AUDCHF+SAXO:AUDGBP+FX:AUDCAD+SAXO:AUDEUR+FX:AUDNZD)/7 NZD = (FX:NZDJPY/100+FX:NZDUSD+FX:NZDCHF+SAXO:NZDGBP+FX:NZDCAD+SAXO:NZDAUD+SAXO:NZDEUR)/7 CRYPTO = (BITSTAMP:BTCUSD+BITSTAMP:ETHUSD+BITSTAMP:LTCUSD+BITSTAMP:BCHUSD)/4 Timeframes : As mentioned in the prerequisites, the chart timeframe must not be greater than the trading timeframe. The latter corresponds to the timeframe chosen by the trader to enter a position, and is the indicator's first parameter. Once this has been chosen, the algorithm selects the timeframes of the "Trend" and "Velocity" charts. Here's how it allocates them : Trading TF => ("Velocity TF", "Trend TF") "5min" => ("15min ", "60min") "15min" => ("60min ", "4h") "30min" => ("2h ", "8h") "60min" => ("4h ", "12h") "4h" => ("12h", "1D") "6h" => ("1D", "3D") "8h" => ("1D", "4D") "12h" => ("2D", "1W") "1D" => ("3D", "1W") Trend Scoring System : When the timeframe of the trend graph has been allocated, the algorithm will establish this graph's score using three criteria : Trend chart pivot points: if the last two pivots, high and low, are increasing, the score is 1; if they are decreasing, the score is -1; else the score is 0. SMA: if its slope is increasing with a candle strictly above the SMA value, the score is 1; if its slope is decreasing with a candle strictly below it, the score is -1; otherwise, it is 0. MACD: if the MACD is positive, the score is 1, if it is negative, the score is -1; else it's 0. We then sum the scores of these three criteria to find the trend score. Velocity Scoring System : In the same way, we analyze the score of the "velocity" graph with its corresponding timeframe using three criteria : The EMA: if its slope is increasing with a candle strictly above the EMA value, the score is 1; if its slope is decreasing with a candle strictly below it, the score is -1; otherwise, it is 0. The RSI: if the RSI's EMA has an increasing slope with an RSI strictly greater than the value of this EMA, the score is 1; and if the RSI's EMA has a decreasing slope with an RSI strictly less than this EMA, the score is -1; otherwise it is 0. SAR parabolic: if the SAR is below the price, the score is 1; if it is above the price, the score is -1. We then sum the scores of these three criteria to find the velocity score. Relative Strength Scoring System : Once the trend score and velocity score have been calculated, we determine the relative strength score of each currency using the following algorithm : If trend score >=2 and velocity score >=2, the currency is bullish. If trend score <=2 and velocity score <=2, currency is bearish If (trendScore>=2 or velocityScore>=2) and (trendScore=1 or velocityScore=1) the currency is not yet bullish If (trendScore<=2 or velocityScore<=2) and (trendScore=-1 or velocityScore=-1) the currency is not yet bearish. Otherwise the currency is neutral Parameters : Trading Timeframe: the trading timeframe chosen by the trader for which he makes his position entry and exit decisions. Default is 1h Pivot Legs: Parameter used for the chart "Trend" setting the pivot strength to the right and left of high/low. Default is 2 SMA Length: SMA length of the chart "Trend". Default is 20 MACD Fast Length: Length of the MACD fast SMA calculated on the chart "Trend". Default is 12 MACD Slow Length: Length of the MACD slow SMA calculated on the chart "Trend". Default is 26 MACD Signal Length: Length of the MACD signal SMA calculated on the chart "Trend". Default is 9 EMA Length: EMA length of the "Velocity" graph. Default is 13 RSI Length: RSI length of the "Velocity" graph. Default is 14 RSI EMA Length: Length of the RSI EMA. Default is 9 Parabolic SAR Start: Start of the SAR parabola in the "Velocity" graph. Default is 0.02 Parabolic SAR Increment: Increment of the SAR parabola in the "Velocity" graph. Default is 0.02 Parabolic SAR Max: Maximum of the SAR parabola in the "Velocity" graph. Default is 0.2 Conclusion : This indicator has been designed to determine the relative strength of the major currencies against each other. The aim is to know which pair to trade at the right time in order to maximize the probability of a successful trade. For example, if the USD is bullish and the NZD bearish, we'll short the NZDUSD pair. Enjoy this indicator and don't forget to take the trade ;)
Pine Script™ indicator
by gsanson66
2
F.B_Consolidation Range Identifier The "F.B_Consolidation Range Identifier" (F.B_CRI) is an indicator aimed at identifying consolidation areas in the price chart. Here is an explanation of the logic and usage of this indicator: Calculation of Standard Deviation This indicator analyzes the market's volatility by considering the standard deviation of price movements over a defined period. A higher standard deviation indicates larger price movement, while a lower standard deviation suggests potential consolidation, where price movements are limited. Derivation of Standard Deviation To track changes in volatility, the derivative of the standard deviation is calculated. Positive derivative values indicate increasing volatility, while negative values suggest a decrease in volatility. This allows for the identification of potential consolidation phases where volatility decreases, and the market may stabilize. Identification of Consolidation Phase The indicator signals potential consolidation phases when the standard deviation is low and/or the derivative of the standard deviation is negative. To represent consolidation phases on the chart, the standard deviation line, background, and candles are colored red. However, it's important to note that the display is customizable and can be configured according to individual needs. 🚨 Important 🚨 The indicator only indicates whether consolidation phases exist. If the standard deviation line, background, or candles are gray, it indicates that a trend exists in general, but not whether it is bullish or bearish. It is advisable to use other analytical tools to confirm the direction of the trend.
Pine Script™ indicator
by F-B_AutoPilot
Candlestick Bias OscillatorCandlestick Bias Oscillator (CBO) The Candlestick Bias Oscillator (CBO) with Signal Line is a pioneering indicator developed for the TradingView platform, designed to offer traders a nuanced analysis of market sentiment through the unique lens of candlestick patterns. This indicator stands out by merging traditional concepts of price action analysis with innovative mathematical computations, providing a fresh perspective on trend detection and potential market reversals. Originality and Utility At the core of the CBO's originality is its method of calculating the bias of candlesticks. Unlike conventional oscillators that may rely solely on closing prices or high-low ranges, the CBO incorporates both the body and wick of candlesticks into its analysis. This dual consideration allows for a more rounded understanding of market sentiment, capturing both the directional momentum and the strength of price rejections within a single oscillator. Mathematical Foundations 1. Body Bias: The CBO calculates the body bias by assessing the relative position of the close to the open within the day's range, scaled to a -100 to 100 range. This calculation reflects the bullish or bearish sentiment of the market, based on the day's closing momentum. Body Bias = (Close−Open​)/(High−Low) x 100 Wick Bias: Similarly, the wick bias calculation takes into account the lengths of the upper and lower wicks, indicating rejection levels beyond the body's close. The balance between these wicks is scaled similarly to the body bias, offering insight into the market's indecision or rejection of certain price levels. Wick Bias=(Lower Wick−Upper Wick)/(Total Wick Length) × 100 3. Overall Bias and Oscillator: By averaging the body and wick biases, the CBO yields an overall bias score, which is then smoothed over a user-defined period to create the oscillator. This oscillator provides a clear visual representation of the market's underlying sentiment, smoothed to filter out the noise. 4. Signal Line: A secondary smoothing of the oscillator creates the signal line, offering a trigger for potential trading signals when the oscillator crosses this line, indicative of a change in market momentum. How to Use the CBO: The CBO is versatile, suitable for various trading strategies, including scalping, swing trading, and long-term trend following. Traders can use the oscillator and signal line crossovers as indications for entry or exit points. The relative position of the oscillator to the zero line further provides insight into the prevailing market bias, enabling traders to align their strategies with the broader market sentiment. Why It Adds Value: The CBO's innovative approach to analyzing candlestick patterns fills a gap in the existing array of TradingView indicators. By providing a detailed analysis of both candle bodies and wicks, the CBO offers a more comprehensive view of market sentiment than traditional oscillators. This can be particularly useful for traders looking to gauge the strength of price movements and potential reversal points with greater precision. Conclusion: The Candle Bias Oscillator with Signal Line is not just another addition to the plethora of indicators on TradingView. It represents a significant advancement in the analysis of market sentiment, combining traditional concepts with a novel mathematical approach. By offering a deeper insight into the dynamics of candlestick patterns, the CBO equips traders with a powerful tool to navigate the complexities of the market with increased confidence. Explore the unique insights provided by the CBO and integrate it into your trading strategy for a more informed and nuanced market analysis.
Pine Script™ indicator
by Tradenometry
1
MACD_TRIGGER_CROSS_TRIANGLEMACD Triangle Trigger Indicator by thebearfib Overview The MACD Cross Triangle Indicator is a powerful tool for traders who rely on the MACD's signal line crossovers to make informed trading decisions. This indicator enhances the traditional MACD by allowing users to customize triggers for bullish and bearish signals and by displaying these signals directly on the chart with visually distinctive labels. Features Customizable Color Scheme: Choose distinct colors for bullish and bearish signals to fit your chart's theme or your personal preference. Flexible Trigger Conditions: Select from a variety of trigger conditions based on MACD and signal line behaviors over a specified number of bars back. Visual Signal Indicators: Bullish and bearish signals are marked with upward and downward triangles, making it easy to spot potential entry or exit points. Detailed Trigger Descriptions: A comprehensive table lists all available triggers and their descriptions, aiding in selection and understanding of each trigger's mechanism. Configuration Options Bullish and Bearish Colors: Customize the color of the labels for bullish (upward) and bearish (downward) signals. Trend Lookback Period: Choose how far back (in bars) the indicator should look to determine the trend, affecting the calculation of certain triggers. Trigger Selection for Bullish and Bearish Signals: Pick specific triggers for both bullish and bearish conditions from a list of 10 different criteria, ranging from MACD crossovers to historical comparisons of MACD, signal line, and histogram values. Label Size and Font Settings: Adjust the size of the signal labels on the chart and the font size of the trigger descriptions table to ensure readability and fit with your chart layout. Trigger Descriptions Table Position and Color: Customize the position and color of the trigger descriptions table to match your chart's aesthetic and layout preferences. Trigger Mechanisms Trigger 1 to 10: Each trigger corresponds to a specific condition involving the MACD line, signal line, and histogram. These include crossovers, directional changes compared to previous bars, and comparisons of current values to historical values. Usage 1. Select Trigger Conditions: Choose the desired triggers for bullish and bearish signals based on your trading strategy. 2. Customize Visuals: Set your preferred colors for the bullish and bearish labels, adjust label and font sizes, and configure the trigger descriptions table. 3. Analyze Signals: Watch for the upward (bullish) and downward (bearish) triangles to identify potential trading opportunities based on MACD crossover signals. Conclusion The MACD Cross Triangle Indicator offers a customizable and visually intuitive way to leverage MACD crossover signals for trading. With its flexible settings and clear signal indicators, traders can tailor the indicator to fit their strategy and improve their decision-making process on TradingView.
Pine Script™ indicator
by thebearfib
1
Economic Growth Index (XLY/XLP)Keeping an eye on the macroeconomic environment is an essential part of a successful investing and trading strategy. Piecing together and analysing its complex patterns are important to detect probable changing trends. This may seem complicated, or even better left to experts and gurus, but it’s made a whole lot easier by this indicator, the Economic Growth Index (EGI). Common sense shows that in an expanding economy, consumers have access to cash and credit in the form of disposable income, and spend it on all sorts of goods, but mainly crap they don’t need (consumer discretionary items). Companies making these goods do well in this phase of the economy, and can charge well for their products. Conversely, in a contracting economy, disposable income and credit dry up, so demand for consumer discretionary products slows, because people have no choice but to spend what they have on essential goods. Now, companies making staple goods do well, and keep their pricing power. These dynamics are represented in EGI, which plots the Rate of Change of the Consumer Discretionary ETF (XLY) in relation to the Consumer Staples ETF (XLP). Put simply, green is an expanding phase of the economy, and red shrinking. The signal line is the market, a smoothed RSI of the S&P500. Run this on a Daily timeframe or higher. Check it occasionally to see where the smart money is heading.
Pine Script™ indicator
by alphaXiom
Unbounded RSIIntroducing the concept of "Unbounded RSI". Instead of indexing the average gain and average loss, over the time period of interest, we leave the average gain and loss unbounded. Instead we "bound" them by difference of each and smoothen out this difference in an envelope using exponential average. See code. What this does to traditional RSI concept? No concept of "overbought", "oversold" No concept of "60-40", "70-30" bands and arguments over it No concept of "Range Shifts" ... How to use it? I am generally a positional long trader. So I present my version. Of course, I expect each individual who decide to use this concept, to come up with their ideas, based on their style and temperament. The points below, I apply on a Weekly Timeframe Chart. Once, we see a long consolidation and price breakout, we should be able to see "Green" histogram bars. These appear, once we have the stock at least 20% up from the 52WL and the "Unbounded RSI" has turned positive. This can be a good time to "enter" into the scrip. The height of the bars are significant, since they essentially show, that the "gap" between the avg. gain and avg. loss is widening, indicating momentum. Swing trading can thrive in these environments I guess. Falling heights indicate that gaps to close, though, the "gap can still be green". This means, momentum is now falling. Swing traders and "quick buck makers", would ideally book profits here. If the color of the bars still remain "Green" it indicates that momentum has reduced but still the gains are "more" than loss on the timeperiod selected. Once the histogram turns red, it means that the gain is now lower than loss. An increasing height underground, means this loss is widening. Generally, this will corelate with price action (not necessarily volume). At this time, exits should be looked for, may be also check other factors/indicators to decide, but surely the momentum and the gain% over the timeperiod selected has now gone. Note for Pine Coders: The source code can easily be modified to develop this concept further. For example: Use different smoothing algorithms Remove 52WL condition and introduce new additional conditions Instead of price change of the stock for gain/loss calculations, we use the concept of Relative Strength (RS, not RSI) and measuere the gain/loss based on a benchmark index . I intend to work on this concept, soon. You shall see a variable "unboundedRSI" which is actually a ratio of the Avg. Gain / Avg. Loss. This ratio is not plotted. It is kept there, for future use. Many more
Pine Script™ indicator
by bharatTrader
3
[blackcat] L2 Double EMA Convergence and Diverence (DEMACD)Introduction: The " L2 Double EMA Convergence and Divergence (DEMACD)" is a custom technical indicator designed for use in TradingView. It's based on the concept of Double Exponential Moving Averages (DEMA) and incorporates elements from the well-known Moving Average Convergence Divergence (MACD). This guide aims to provide an understanding of its definition, history, calculation, operations, usage, input settings, and style. 1. Definition: The DEMACD indicator is designed to detect changes in price trends using a modified approach of the traditional MACD, with a focus on reducing lag. It does this by comparing two DEMAs of different lengths, providing traders with signals of converging and diverging trends. 2. History: The concept of DEMA was introduced by Patrick Mulloy in 1994 to reduce the lag inherent in traditional EMAs. MACD, developed by Gerald Appel in the 1970s, is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. The DEMACD combines the quick response feature of DEMA with the reliable trend analysis of MACD. 3. Calculation Method: DEMACD is calculated through several steps: Smoothed price S is first computed as (3 * close + high + low + open) / 6. DAYLINE is calculated as 2 * EMA(S, len_ema) - EMA(EMA(S, 5), len_ema). The mainTrendLine is the EMA of the EMA of the closing price over len_dema periods. DIF is the difference between the DAYLINE and mainTrendLine. DEA is the EMA of DIF over len_smooth periods. Finally, DEMACD is calculated as (DIF - DEA) * 2. 4. Basic Operations and Comparison with MACD: DEMACD's key feature is its reduced lag compared to the traditional MACD. While MACD uses EMA, DEMACD uses DEMA, providing a faster and more accurate response to price changes. This makes it particularly useful in volatile market conditions where traditional MACD may lag. 5. Usage: Similar to MACD, DEMACD is used for trend confirmation, crossover signals, and divergences: Trend confirmation is observed when the DIF line is above or below the DEA line. Crossover signals are generated when the DIF line crosses the DEA line. Divergences between the DEMACD and price action can signal potential trend reversals. 6. Input Settings: Users can configure the following settings in TradingView: len_ema: Length of the EMA for DAYLINE. len_dema: Length of the EMA for the main trend line. len_smooth: Smoothing length for DEA. Adjusting these settings allows traders to tailor the indicator to different trading styles and market conditions. 7. Style: The DEMACD in TradingView is represented with different colors and line thicknesses: DIF is plotted in red with a line thickness of 2. DEA is plotted in gray, also with a line thickness of 2. DEMACD histogram changes color based on its value relative to its previous value and zero. Conclusion: The " L2 Double EMA Convergence and Divergence (DEMACD)" is a versatile indicator that combines the rapid response of DEMA with the trend-following abilities of MACD. Its reduced lag makes it a valuable tool for traders looking for timely market signals. Proper understanding and application of its settings can enhance its effectiveness in various trading strategies.
Pine Script™ indicator
by blackcat1402
1
Monitor XThe Monitor X Indicator is a dynamic tool designed for any trading symbol, providing a quick and intuitive snapshot of price action relative to the latest closing level. With a user-friendly interface, this indicator allows traders to effortlessly gauge price movement and key levels. Key Features: 1. Symbol Agnosticism: Universally applicable to any trading symbol, the Monitor X Indicator ensures versatility and adaptability across various financial instruments. 2. Instant Price Insight: Obtain immediate clarity on current market dynamics with a single glance. The indicator prominently displays the price line, facilitating swift analysis. 3. Last Close Comparison: Easily assess the price's relationship to the most recent closing level. This feature provides valuable context for understanding market sentiment and potential support/resistance areas. 4. Customizable Display: Tailor the indicator to your preferences with adjustable settings for line color, width, and opacity. This customization empowers traders to align the indicator with their unique trading strategies. 5. Intuitive Interface: The clean and intuitive interface ensures a seamless user experience. Access crucial information effortlessly, allowing for quick decision-making. How to Use: 1. Symbol Selection: Apply the Monitor X Indicator to any trading symbol of your choice, ensuring a versatile tool for your entire portfolio. 2. Last Close Analysis: Quickly assess how the current price relates to the previous close. This instant comparison aids in identifying potential entry and exit points. 3. Customization for Precision: Fine-tune the indicator's appearance to suit your preferences. Adjust line colors, widths, and opacity settings for a personalized and efficient trading experience. 4. Swift Decision-Making: Utilize the Monitor X Indicator for rapid decision-making. Gain insights into market movements at a glance, allowing you to stay ahead in dynamic trading environments.
Pine Script™ indicator
by Julien_Eche
Instant MACD (IMACD)The "Instant MACD" is a tailored version of the traditional Moving Average Convergence Divergence indicator, specifically designed to begin plotting with minimal data, such as in cases of high timeframe charts or newly listed trading instruments. Unlike the standard MACD that requires a substantial amount of data to provide accurate readings, the Instant MACD can deliver insights with as few as two candlesticks. This iteration of the MACD utilizes the Chebyshev filter for the computation of both the fast and slow moving averages as well as for the signal line. The Chebyshev filter is known for its effectiveness in smoothing data series and reducing ripple effects, which is particularly advantageous when working with limited datasets. The Instant MACD comprises several components. The histogram, which illustrates the difference between the MACD line and the signal line, adjusts its color based on the directional momentum; it transitions between shades of green and red as the histogram moves above or below the zero line and increases or decreases in value. The MACD line, depicted in blue, represents the disparity between the fast and slow Chebyshev moving averages. Complementing it is the signal line in orange, which is a Chebyshev-filtered mean of the MACD line and serves as an indicator of potential momentum shifts. Additionally, the indicator includes a zero line for reference, aiding in the visualization of the convergence or divergence of the MACD and signal lines. To enhance its utility, the script encompasses alert conditions to notify users when there is a change in the trend of the histogram—specifically, when it transitions from a rising to a falling state and vice versa, potentially indicating shifts in market momentum. Overall, the Instant MACD is an innovative tool for traders who require early trend signals in scenarios where traditional MACD analysis might be hampered by the lack of extensive historical data. tl;dr this is identical to the regular macd but it starts working almost instantly.
Pine Script™ indicator
by The_Peaceful_Lizard
7
Divergence AnalyzerUnlock the potential of your trading strategy with the Divergence Analyzer, a sophisticated indicator designed to identify divergence patterns between two financial instruments. Whether you're a seasoned trader or just starting, this tool provides valuable insights into market trends and potential trading opportunities. Key Features: 1. Versatility in Symbol Selection: - Choose from a wide range of symbols for comparison, including popular indices like XAUUSD and SPX. - Seamlessly toggle between symbols to analyze divergences and make informed trading decisions. 2. Flexible Calculation Options: - Customizable options allow you to use a different symbol for calculation instead of the chart symbol. - Fine-tune your analysis by selecting specific symbols for comparison based on your trading preferences. 3. Logarithmic Scale Analysis: - Utilizes logarithmic scales for accurate representation of price movements. - Linear regression coefficients are calculated on the logarithmic scale, providing a comprehensive view of trend strength. 4. Dynamic Length and Smoothing: - Adjust the length parameter to adapt the indicator to different market conditions. - Smoothed linear regression with exponential moving averages enhances clarity and reduces noise. 5. Standard Deviation Normalization: - Normalizes standard deviations over 200 periods, offering a standardized view of price volatility. - Easily compare volatility levels across different symbols for effective divergence analysis. 6. Color-Coded Divergence Visualization: - Clearly distinguish positive and negative divergences with customizable color options. - Visualize divergence deltas with an intuitive color scheme for quick and effective interpretation. 7. Symbol Information Table: - An included table provides at-a-glance information about the selected symbols. - Identify Symbol 1 and Symbol 2, along with their corresponding positive and negative divergence colors. How to Use: 1. Select symbols for analysis using the user-friendly inputs. 2. Customize calculation options based on your preferences. 3. Analyze the divergence delta plot for clear visual indications. 4. Refer to the symbol information table for a quick overview of selected instruments. Empower your trading strategy with the Divergence Analyzer and gain a competitive edge in the dynamic world of financial markets. Start making more informed decisions today!
Pine Script™ indicator
by Julien_Eche
6
Instant RSI (IRSI) Instant RSI is tailored for users seeking an effective RSI indicator for charts with limited historical data, such as new symbols or very high time frame charts. Its distinctiveness lies in employing a Chebyshev filter, an innovative approach that allows the RSI to initiate calculations with just two data points. The Chebyshev filter, traditionally used in signal processing, helps in smoothing data while minimizing lag, a critical aspect in fast-moving financial markets. Key Features: Chebyshev Filter Integration: The Chebyshev filter is fine-tuned to mimic a 14-period RMA's behavior, enhancing the RSI's responsiveness and accuracy with minimal data. Customizable RSI and MA Settings: Users can modify the RSI's source, length, ripple effect, and style. An optional moving average overlay, also based on Chebyshev filtering, tuned to mimic an EMA set to 14. Divergence Detection: I have also included the ability to adjust the divergence settings to allow for more flexibility over the built in RSI. The script operates by applying the Chebyshev filter to the price movement's up and down components, forming the basis of the RSI calculation. When the moving average feature is activated, it further processes the RSI value through the Chebyshev filter for additional smoothing. This dual application of the Chebyshev filter is central to the script's design, offering a unique solution for situations where traditional RSI calculations might be less reliable due to data scarcity. The divergence detection feature enhances the script's utility by signaling potential trend reversals, critical for strategic decision-making in trading. These features are visually represented on the chart, ensuring that users can easily interpret and react to the indicators. In general this indicator should produce the exact same output as the built in RSI. This indicator is specifically designed to be used in conditions where the built in RSI will not work due to limited data. In summary, the "Instant RSI" script is a practical option for those dealing with limited data scenarios, offering a unique blend of Chebyshev filter application for more responsive market analysis.
Pine Script™ indicator
by The_Peaceful_Lizard
5
MACD Crossover with +/- FilterThis is to directly target when MACD crosses the Signal line. The purpose of this script is to target a +/- change of 3 in the MACD value after the most recent cross. It uses the value of the MACD line and holds it until a value of 3.00 + or - a crossover or crossunder happens. That's the significance of the red and green circles that appear on the chart. This is not financial advice, but I wanted to recreate what a friend of mine was doing manually and automate it for him. The first circle that appears after MACD/SIGNAL lines cross would represent a potential trade idea. The circles after the first one match the intention of the first dot as they meet the condition of more than a value of -3 or +3 as the previous dot. Inputs: Standard Inputs as normal MACD (Moving Average Converging Divergence) within TradingView Fast Length: User can change it to any value they want Slow Length: User can change it to any value they want Standard 12, 26, 9 as normal MACD // 9 being signal smoothing Oscillator and Signal Line moving average type is using EMA's Timeframe is dependent on user chart. Circles are used for signaling the change in values. Red indicates a short-term bearish trend. Green indicates a short-term bullish trend. Tested on lower timeframes: 1m, 3m, 5m, 15m, 60m Not used as much on higher timeframes. Used for trading futures. This is what I use it for. It can be used for other futures than just NQ or ES, but those 2 are the ones that I've tested. Code it shown below for users to tinker with. Style of indication symbol can be changed via settings within the indicator in the "Style" tab, as well as location of the symbol(s). Additionally, color can be changed as well, if you prefer different colors. Not financial advice. Just trade ideas.
Pine Script™ indicator
by x5w
Relative Strength Trend Indicator (RSTI)This indicator is called the "Relative Strength Trend Indicator" (RSTI), designed to assess the relative strength of a trend. Here is a detailed explanation of how it works and how traders can interpret it: Indicator Operation: 1. Data Source (src): The indicator considers a data source, typically the closing price (close), but this can be adjusted according to the trader's preferences. 2. Period Length (Length): This determines the period used to calculate the simple moving average (SMA) of the data source. A longer period smoothes the indicator, while a shorter period makes it more responsive. 3. Multiplier (Multiplier): This is a multiplication factor applied to the Average True Range (ATR), adjusting the width of the bands. 4. Signal Length (Signal Length): This period is used to calculate the simple moving average of the relative strength (l_strength). It determines the sensitivity of the signal to changes in relative strength. Interpretation of the Indicator: 1. Upper Strength Band (Upper Level): This line is drawn at 80 and represents a high strength level. When relative strength exceeds this value, it may indicate a potential overbought market. 2. Lower Strength Band (Lower Level): This line is drawn at 20 and represents a low strength level. When relative strength is below this value, it may indicate a potential oversold market. 3. RSTI Strength: The main line of the indicator, representing the calculated relative strength. When this line exceeds 50, it may indicate an uptrend, while a value below 50 may indicate a downtrend. 4. Filling Zones: These colored zones between levels 80 and 50, and between 50 and 20, can help quickly visualize relative strength. A colored zone above 50 indicates positive strength, while a colored zone below 50 indicates negative strength. Qualities of the Indicator: 1. Adaptability: The use of ATR and the flexibility of parameters (length, multiplier, signal_length) allow the indicator to adapt to different market conditions. 2. Visual Clarity: Colored filling zones and horizontal lines make it easy to visualize relative strength levels. 3. Strength Signal: The signal line (RSTI Strength) allows traders to quickly spot changes in relative strength, facilitating decision-making. 4. Responsiveness: The combination of smoothed moving averages and relative strength indicators allows responsiveness to trend changes while reducing false signals. It is essential to note that while this indicator can provide valuable insights, it is always recommended to use it in conjunction with other technical analysis tools for informed decision-making.
Pine Script™ indicator
by Julien_Eche