ICT Watermark | FluxxDescription:
The watermark indicator is designed to enhance the visual presentation of your trading charts by adding customizable watermarks. This tool allows you to overlay essential information, such as ticker symbols, timeframes, dates, and custom text, directly onto your charts. While providing larger text options then all other watermarks currently available.
Key Features:
Customizable Watermarks: Users can enable up to two watermarks with adjustable text content, color, size, and position.
Dynamic Information Display: Option to display real-time symbol and timeframe details, as well as the current date.
Flexible Placement: Watermarks can be positioned at the top, middle, or bottom of the chart, and aligned to the left, center, or right.
Multiple Size Options: Includes a variety of text sizes, making the text larger than any other watermark out there!
Use Cases:
Branding: Add your name or brand to your charts for a personalized touch.
Clarity: Overlay important chart details without obstructing the main content, helping in presentations or shared analysis.
This indicator is original and valuable for traders who seek to enhance the clarity and professionalism of their charts. It is particularly useful for those who create educational content or wish to maintain consistent chart branding.
Chart patterns
Shark Harmonic Pattern [TradingFinder] Shark Detector Indicator🔵 Introduction
The Shark harmonic pattern, first introduced by Scott Carney in 2011, is a recognized tool in technical analysis. Since its inception, it has been widely adopted by traders as an essential market analysis tool.
Due to its complexity, the Shark pattern can be challenging for novice traders. Therefore, we have developed the Harmonic Pattern Indicator to help analysts and traders easily identify these patterns.
🟣 Understanding the Types of Shark Pattern
In technical analysis, the Shark harmonic pattern forms at the end of trends and is categorized into two types: Bullish and Bearish Shark Patterns.
Bullish Shark Pattern : This pattern appears at the end of a downtrend, indicating a potential reversal to an uptrend. Traders can use this pattern to identify buy entry points. The image below illustrates the core components of the Bullish Shark Pattern.
Bearish Shark Pattern : Conversely, the Bearish Shark Pattern forms at the end of an uptrend, signaling a possible reversal to a downtrend. This pattern prompts traders to shift their positions from buying to selling. The image below showcases the characteristics of the Bearish Shark Pattern.
🔵 How to Use
🟣 Trading with the Bullish Shark Pattern
The Bullish Shark Pattern acts as a reversal pattern, helping traders identify the end of a downtrend and the beginning of an uptrend. It consists of five key points that indicate alternating bullish and bearish movements.
Upon the complete formation of this pattern, traders can look for opportunities to enter buy trades. To manage risk effectively, it is advisable to set a stop-loss below the lowest price point within the pattern.
🟣 Trading with the Bearish Shark Pattern
Similarly, the Bearish Shark Pattern functions as a reversal pattern but in the opposite direction. It helps traders identify the end of an uptrend and the onset of a downtrend.
After the pattern fully forms, traders can seek sell entry opportunities. As with the bullish pattern, placing a stop-loss above the highest price point within the pattern is recommended for risk management.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Shark harmonic pattern is a potent analytical tool in technical analysis that aids traders in identifying critical reversal points in financial markets. Whether in a bullish or bearish context, this pattern provides clear trend change signals, allowing traders to enter trades with greater precision and optimize their strategies.
However, as with all analytical methods, it is essential to supplement the Shark pattern with additional analyses and strict risk management to avoid potential losses. Incorporating this pattern into a comprehensive trading strategy can lead to better trade outcomes and more opportunities for success
Big Volumes HighlighterBig Volumes Highlighter
Overview:
The "Big Volume Highlighter" is a powerful tool designed to help traders quickly identify candles with the highest trading volume over a specified period. This indicator not only highlights the most significant volume candles but also color-codes them based on the candle's direction—green for bullish (close > open) and red for bearish (close < open). Whether you're analyzing volume spikes or looking for key moments in price action, this indicator provides clear visual cues to enhance your trading decisions.
Features:
Customizable Lookback Period: Define the number of candles to consider when determining the highest volume.
Automatic Color Coding: Candles with the highest volume are highlighted in green if bullish and red if bearish.
Visual Clarity: The indicator marks the significant volume candles with a triangle above the bar and changes the background color to match, making it easy to spot important volume events at a glance.
Use Cases:
Volume Spike Detection:
Quickly identify when a large volume enters the market, which may indicate significant buying or selling pressure.
Trend Confirmation: Use volume spikes to confirm trends or potential reversals by observing the direction of the high-volume candles.
Market Sentiment Analysis: Understand market sentiment by analyzing the direction of the candles with the biggest volumes.
How to Use:
Add the "Big Volume Highlighter" to your chart.
Adjust the lookback period to suit your analysis.
Observe the highlighted candles for insights into market dynamics.
This script is ideal for traders who want to incorporate volume analysis into their technical strategy, providing a simple yet effective way to monitor significant volume changes in the market.
Artaking 2Components of the Indicator:
Moving Averages:
Short-Term Moving Average (MA): This is a 50-period Simple Moving Average (SMA) applied to the closing price. It is used to track the short-term trend of the market.
Long-Term Moving Average (MA): This is a 200-period SMA used to track the long-term trend.
Day Trading Moving Average: A 20-period SMA is used specifically for day trading signals, focusing on shorter-term price movements.
Purpose:
The crossing of these moving averages (short-term crossing above or below long-term) provides basic buy and sell signals, indicative of potential trend reversals or continuations.
ADX (Average Directional Index) for Trend Strength:
ADX Calculation: The ADX is calculated using a 14-period length with 14-period smoothing. The ADX value indicates the strength of a trend, regardless of direction.
Strong Trend Condition: The indicator considers a trend to be strong if the ADX value is above 25. This threshold helps filter out trades during weak or sideways markets.
Purpose:
To ensure that the strategy only generates signals when there is a strong trend, thus avoiding whipsaws in low volatility or range-bound conditions.
Support Levels:
Support Level Calculation: The indicator calculates the lowest close over the last 100 periods. This level is used to identify significant support zones where the price might find a floor.
Purpose:
Support levels are critical in identifying potential areas where the price might bounce, making them ideal for setting stop losses or identifying buy opportunities.
Volatility Spike (Proxy for News Trading):
ATR (Average True Range) Calculation: The indicator uses a 14-period ATR to measure market volatility. A volatility spike is identified when the ATR is greater than 1.5 times the 14-period SMA of the ATR.
Purpose:
This serves as a proxy for news events or other sudden market movements that could make the market unpredictable. The indicator avoids generating signals during these periods to reduce the risk of being caught in a volatile, potentially news-driven move.
Fibonacci Retracement Levels:
61.8% Fibonacci Level: Calculated from the highest high and lowest low over the long MA period, this retracement level is widely regarded as a significant support or resistance level.
Purpose:
Position traders often use Fibonacci levels to identify potential reversal points. The indicator incorporates the 61.8% level to fine-tune entries and exits.
Candlestick Patterns for Price Action Trading:
Bullish Engulfing Pattern: A bullish reversal pattern where a green candle fully engulfs the previous red candle.
Bearish Engulfing Pattern: A bearish reversal pattern where a red candle fully engulfs the previous green candle.
Purpose:
These patterns are classic signals used in price action trading to identify potential reversals at key levels, especially when they align with other conditions like support/resistance or Fibonacci levels.
Signal Generation:
The indicator generates buy and sell signals by combining the above elements:
Buy Signal:
A buy signal is triggered when:
The short-term MA crosses above the long-term MA (indicating a potential uptrend).
The trend is strong (ADX > 25).
The current price is near or below the 61.8% Fibonacci retracement level, suggesting a potential reversal.
No significant volatility spike is detected, ensuring the market isn’t reacting unpredictably to news.
Sell Signal:
A sell signal is triggered when:
The short-term MA crosses below the long-term MA (indicating a potential downtrend).
The trend is strong (ADX > 25).
The current price is near or above the 61.8% Fibonacci retracement level, suggesting potential resistance.
No significant volatility spike is detected.
Day Trading Signals:
Independent of the main trend signals, the indicator also generates intraday buy and sell signals when the price crosses above or below the 20-period day trading MA.
Price Action Signals:
The indicator can trigger buy or sell signals based purely on price action, such as the occurrence of bullish or bearish engulfing patterns. This is optional and can be enabled or disabled.
Alerts:
The indicator includes built-in alert conditions that notify the trader when a buy or sell signal is generated. This allows traders to act immediately without having to constantly monitor the charts.
Practical Application:
This indicator is versatile and can be used across various trading styles:
Position Trading: The long-term MA, Fibonacci retracement, and ADX provide a solid foundation for identifying long-term trends and potential entry/exit points.
Day Trading: The short-term MA and day trading MA offer quick signals for intraday trading.
Price Action: Candlestick pattern recognition allows for precise entry points based on market sentiment and behavior.
News Trading: The volatility spike filter helps avoid trading during periods of market instability, often driven by news events.
Conclusion:
The Comprehensive Trading Strategy Indicator is a robust tool designed to help traders navigate various market conditions by integrating multiple strategies into a single, coherent framework. It provides clear, actionable signals while filtering out potentially dangerous trades during volatile or weak market conditions. Whether you're a long-term trader, a day trader, or someone who relies on price action, this indicator can be a valuable addition to your trading toolkit.
Prometheus TTM SqueezeThe TTM indicator is an indicator used to better understand an underlying’s direction and volatility. Positive values indicate a rising price, negative falling. There is also an element of the underlying's volatility, explained below.
When, in this particular indicator, the zero line is the aqua color, that means that the volatility has picked up. In literal terms, it means that the upper Keltner Channel is above the upper Bollinger Band and the lower Keltner Channel is below the lower Bollinger Band. The range of the Keltner Channels is greater than the range of the Bollinger bands. What this is supposed to correlate to with price action is a more volatile choppier area. See below.
This is an example of volatility picking up being shown as the speed of the underlying. When the line turns aqua the move following tends to be sharp in the respective direction. Not a smooth delivery of price.
Regarding why this script is different from the others, with this script you do not need to input a bar's back value if you do not want to. Bars back being the amount of bars used in the indicator calculation. This is because of the use of Sum of Squared Errors, or SSE. How we do it is we calculate a Simple Moving Average or SMA and the indicator using a lot of different bars back values. Then if there is an event, characterized by the oscillator crossing over or under the 0 line, we subtract the close by the SMA and square it. If there is no event we return a big value, we want the error to be as small as possible. Because we loop over every value for bars back, we get the value with the smallest error. Or the SMA closest to the price ensuring we are following it as close as we can. This also becomes the value used as the multiplier for the Keltner Channels and Bollinger Bands, we simply divide them by 10 to normalize it. This leads to ease of use. A user does not need to worry about finding the best bars back for each ticker and time frame. We have you covered! SSE is not to be regarded to be the best given values for a pocket of the market, simply an estimation.
Of course we have the option for users to enter their own bars back or multipliers. Here is a comparison of the SSE at work and a 20 period bar’s back with 2 as the multiplier on a 4 hour $QQQ.
The top one is the SSE, the bottom is 20. I turned off showing the SMA, and alerts for better visibility. We see the SSE version does not cross above 0 again until the trend totally reverses. I would much rather overestimate risk than underestimate it.
The BULL and BEAR plotted on the chart is a result of the following conditions. A BULL if the price is above our auto optimized SMA and the oscillator crosses over 0. BEAR is the opposite, price below the SMA and an oscillator cross below 0. Here is the Daily NYSE:PLTR chart to show some.
Users have the options to toggle on and off the BULL and BEAR plots, SMA, as well as input their own lookback and multipliers.
We encourage traders to not follow indicators blindly, none are 100% accurate. SSE does not guarantee that the values generated will be the best for a given moment in time. Please comment on any desired updates, all criticism is welcome!
God's of LiquidityHere’s a detailed description for your script, following the guidelines for clarity and originality:
---
**Title:** God's of Liquidity
**Description:**
The "Gods of Liquidity" script is a comprehensive trading tool designed to help traders identify high-probability buy and sell opportunities based on a combination of liquidity levels, RSI-based sentiment analysis, and session-specific filters.
**Key Features:**
1. **Liquidity Zones Identification:**
- The script dynamically calculates the previous day's high and low levels, which serve as critical liquidity zones. Traders can use these levels to spot potential breakout points and reversals.
2. **RSI-Based Sentiment Analysis:**
- The script incorporates a sophisticated RSI-based sentiment model that differentiates between institutional (Banker) and retail (Hot Money) activity. This dual RSI approach allows traders to gauge market sentiment and anticipate shifts in momentum.
- **Banker RSI:** Measures the sentiment of institutional traders, with customizable sensitivity and period parameters.
- **Hot Money RSI:** Measures retail trader sentiment, with its own adjustable settings to tailor the script to various market conditions.
3. **Session and Day Filters:**
- Traders can restrict signals to specific trading sessions and days of the week, providing greater control and precision in executing trades. This feature is particularly useful for aligning trading activity with market conditions that best suit the strategy.
4. **Breakout and Reversal Signals:**
- The script generates buy signals when the price breaks above the previous day's high, accompanied by bullish RSI sentiment from institutional traders. Conversely, sell signals are generated when the price breaks below the previous day's low, with bearish institutional sentiment.
- These signals are visually marked on the chart, making it easier for traders to identify potential trading opportunities.
5. **Customizable Moving Averages:**
- The script allows users to customize the moving averages used in the RSI calculations, giving traders the flexibility to adapt the tool to their specific trading style and market conditions.
6. **Alert System:**
- Alerts are integrated to notify traders when buy or sell conditions are met, ensuring that traders can react promptly to potential trading opportunities without constantly monitoring the charts.
**How It Works:**
- The script uses the previous day's high and low as key liquidity levels. The price crossing these levels, combined with RSI-based signals, indicates potential buy or sell opportunities.
- The sentiment analysis is derived from the RSI values, with separate calculations for institutional and retail activities. The crossover points of these RSI values against their respective moving averages trigger buy or sell signals.
- The session and day filters allow traders to focus on the most relevant times for trading, enhancing the effectiveness of the strategy.
**Usage:**
- This indicator is designed for Forex traders who want to integrate liquidity zones and sentiment analysis into their trading strategy. It is particularly effective on daily or higher timeframes where liquidity levels and RSI-based sentiment analysis can provide strong indications of market direction.
- The script's flexibility in adjusting session times, days, and RSI parameters makes it suitable for a wide range of trading styles, from day trading to swing trading.
---
**License:**
This source code is subject to the terms of the Mozilla Public License 2.0 at (mozilla.org).
© bankbaguitarcrazy
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This description should provide sufficient detail to comply with the publication guidelines, offering clear insight into how the script works and its unique features.
Rising & Falling Window Signals [LuxAlgo]The Rising & Falling Window Signals indicator identifies Rising & Falling Window formations on the chart and manages them for use as support and resistance zones. The Rising and Falling Window methods used in this indicator are based on Steve Nison's techniques, emphasizing the importance of these areas to better identify continuation momentum and likely reversal points.
Various filtering settings are included to identify zones of a specific width, as well as hide shorter zones from displaying on their chart, helping the users focus on the most significant zones.
🔶 USAGE
A Window (Rising or Falling) forms when the candle wicks from 2 consecutive candlesticks do not overlap, causing a gap. This gap is considered as a strong market sentiment of upward or downward movement, allowing traders to anticipate the likely direction of future prices.
The formation of a Rising Window is a typical indication that a bullish trend is likely to follow.
The formation of a Falling Window is a typical indication that a bearish trend is likely to follow.
After forming a window, we can interpret the zone as a likely area of support and resistance for the price to return to and react from.
Generally, the extremities of the window are used as support and resistance levels, with opposite extremities being regarded as the strongest point of support/resistance. However, when the window is exceptionally wide, the mid-point is looked upon as the strongest point of support/resistance. Once the price closes beyond the window, the window is no longer seen as supportive.
🔶 DETAILS
The script uses a fairly simple concept and implements it with familiar size and mitigation checks. From the settings of this script, the zones can be controlled based on user preferences.
🔹 Horizontal Zone Control
Horizontal Control Settings manipulate the extension and zone display for each zone; however, these settings do not affect the identification of each zone.
Maximum Live Zone Length: This determines the maximum duration of a zone. Zones will stop extending once the zone is mitigated, or if it has reached the maximum zone length determined by this setting.
Minimum Inactive Zone Length: This will hide mitigated (inactive) zones that are shorter than this setting value, this is used to free up the chart from irrelevant zones.
Extend Historical Zones on Touch: If a zone is unmitigated, but has stopped extending, it is considered a "historical" zone. If the price returns to a historical zone, this setting will cause it to extend to the current bar.
🔹 Vertical Zone Control
Vertical Control Settings filter out windows that are wider or thinner than the desired width range. Each of these settings is specified as "ATR Multipliers".
Minimum Width: Filters out any zones whose width is lower than ATR * Minimum Width.
Maximum Width: Filters out any zones whose width is higher than ATR * Maximum Width.
🔹 Signal Types
Signals are used to identify interactions with the Rising & Falling Window zones. The script has 3 different identification types to choose from:
Note: These are all bullish (rising window) examples of each signal.
Regular: The "regular" signal will fire when the price crosses above the upper extremity of an unmitigated zone.
Engulfing: The "engulfing" signal will fire when a bullish engulfing candlestick pattern occurs while one or more of the candle's wicks are touching the zone.
Wick: The "wick" signal will fire when the low of the candle is below the top of a zone, but the candle then closes above the top of the zone.
🔶 SETTINGS
🔹 Horizontal Zone Control
Maximum Live Zone Length: Maximum duration of newly formed zones.
Minimum Inactive Zone Length: Hides Zones whose length is lower than this setting.
Extend Historical Zones on Touch: Extend historical unmitigated zones when the price reaches the zone to the current bar.
🔹 Vertical Zone Control
Minimum Width: ATR multiplier used to filter out any zones whose width is lower than ATR * Minimum Width.
Maximum Width: ATR multiplier used to filter out any zones whose width is higher than ATR * Maximum Width.
Show Midlines: Determine if the zone midlines are displayed.
🔹 Signals
Show Zone Tests: Determine if signals appearing on zone tests are displayed.
Test Type: Sets the signal method for zone tests.
Signal Size: Sets label size for displayed signals.
Prometheus Cauchy ProbabilityThe Cauchy probability distribution is a distribution that is better suited to be used on non normal data, such as stock returns. Markets characterized by volatility and fat-tails can be better modeled like this.
This script provides two values to a user. The blue line represents the probability for the underlying to rise. The purple line represents its probability to fall. Rise and fall by how much? By default a prediction of 0.5% is set, but users can adjust it. The script automatically calculates based on how many bars would be in an entire day. For example there are 390 minutes from 9:30am to 4:00pm est. time so the script uses 390 bars. Users have the option to set a custom bars back length.
Developer’s note. This script works best with extended market hours on. Every example shown will have it on. The more price and volatility the better!
Code breakdown:
cauchy_cdf(x, x0, gamma)=>
1 / math.pi * math.atan((x - x0) / gamma) + 0.5
This function is what calculates the Cauchy cumulative density function.
// Calculate x and gamma
x = close * (1 + pred)
x0 = hi
gamma := ta.stdev(close, Len, false)
y = cauchy_cdf(x, x0, gamma)
//down
x_lo = close * (1 - pred)
x0_lo = lo
y_lo = cauchy_cdf(x_lo, x0_lo, gamma)
x represents the target price. x0 represents the current highest price of the day. Gamma is the standard deviation of prices over the desired length. x_lo, x0_lo, are variables to determine the probability of falling. Inputting these values into the function we get back our chance of rising and falling. Our blue and purple line.
Trade Examples:
Step 1: After a move down there is some choppiness, the values are close to each other and moving sharply.
Step 2: The chance to rise (Blue Line) strongly moves above the chance to fall (Purple Line), uptrend ensues.
Step 3: Small breaks below the purple line show breaks in the overall trend.
Step 4: Strong move down in price, and up in purple line end up trend.
Step 1: Strong cross in purple and blue line, marking the start of a downtrend.
Step 2: Small breaks above the purple line show breaks in the overall trend.
Step 3: Strong move up in price, and up in the blue line end downtrend.
Day trading example:
Custom input:
Step 1: Pre market weakness ends with a move up in the blue line and price.
Step 2: Consolidation in the uptrend with a small downtrend and above the purple line.
Step 3: Strong move up in price, and up in the blue line end consolidation and resumes strong uptrend.
This example is with custom input: 100 bars back, and 1% prediction.
Step 1: Downtrend starts after a big move up.
Step 2: Big crossover in blue and purple line. Uptrend starts.
Step 3: Lines get close signaling choppiness.
Step 4: Purple crosses over blue ending uptrend.
No indicator is 100% accurate, we encourage traders to use them along with their own discretion. Please use these tools with your own decision making. Comments about desired features and updates are encouraged!
Linear and Logarithmic Fibonacci Levels and (Price&Time) FansIntroduction
The Fibonacci Retracement tool is a go-to for traders looking to spot potential support and resistance levels. By measuring the distance between swing highs and lows, you can apply Fibonacci ratios like 0.236, 0.382, and 0.618 to predict key market levels.
Traditionally, these levels are set by dividing this distance into equal parts—known as Linear Levels. A more refined approach, Logarithmic Price and Time Levels, divides the distance into proportionally equal segments. Plus, this indicator now includes Fibonacci fans, adding another layer of analysis by projecting potential price levels using trendlines based on Fibonacci ratios.
This tool makes it easier to identify both Linear and Logarithmic levels while also leveraging Fibonacci fans for a more complete market view.
Applications
Logarithmic Levels and Fibonacci fans are ideal for volatile markets. In crypto, they’re especially effective for BTCUSDT (check out the wick from January 23, 2024). They also help spot accumulation and distribution patterns in high-volume altcoins like FETUSDT . In traditional markets, they’re useful for tracking stocks like TSLA and NVDA with extreme price swings, as well as indices in inflation-affected markets like XU100 , or recession-hit currency pairs like JPYUSD .
How to Use
This indicator is intuitive and similar to TradingView’s Fibonacci Tool. Select your reference levels (Level 1 and Level 0), then tweak the settings to customize your analysis, including adding Fibonacci fans for extra insights.
Why It’s Different
Unlike TradingView’s tool, which forces you to switch to a logarithmic scale (messing with other indicators and trend lines), this indicator lets you view both Linear and Logarithmic levels—and Fibonacci fans on Price and Time Series—without changing your chart’s scale. The original Fibonacci Code was derived from zekicanozkanli, modified and upgraded to plot fib front and back fans as well. Due to TV Max Plot restrictions I need to publish just Front and Back and Front Fibs separately.
Gap Percentage Highlighter (1Day)b]🇬🇧 ENGLISH
The "Gap Percentage Highlighter" script is a useful tool for traders who want to visually highlight and analyze price gaps on their charts.
Features:
Identification of Price Gaps (Gaps):
The script automatically highlights candles where the opening price significantly differs from the previous day's closing price.
Percentage Display of the Gap:
The percentage change between the closing price and the opening price is displayed directly on the chart.
Customizable Gap Size:
Users can set the minimum size of the price gap in percentage terms through a simple input field, determining when the script marks a gap as significant.
Visual Highlighting:
Gap-ups (positive gaps) are highlighted in green, and gap-downs (negative gaps) are highlighted in red, making them easy to identify.
Use Case:
This script is ideal for traders who utilize gaps in their analyses to identify potential market movements. It allows for quick and visual identification of significant price gaps directly on the chart and offers the flexibility to adjust the definition of "significant" to match individual needs.
Disclaimer:
This script is for educational purposes only. Trading involves risks and is not suitable for every investor.
(c) BS IMPACT SCALE GmbH
🇩🇪 GERMAN
Das "Gap Percentage Highlighter" Skript ist ein nützliches Tool für Trader, die Kurslücken (Gaps) auf ihren Charts visuell hervorheben und analysieren möchten.
Funktionen:
Identifizierung von Kurslücken (Gaps):
Das Skript hebt automatisch Kerzen hervor, bei denen der Eröffnungskurs vom Schlusskurs der vorherigen Kerze auf Tagesbasis signifikant abweicht.
Prozentuale Anzeige der Kurslücke:
Die prozentuale Veränderung zwischen Schlusskurs und Eröffnungskurs wird direkt auf dem Chart angezeigt.
Anpassbare Gap-Größe:
Nutzer können über ein einfaches Eingabefeld die minimale Größe der Kurslücke in Prozent festlegen, ab der das Skript die Lücke als relevant markiert.
Visuelle Hervorhebung:
Gap-Ups (positive Lücken) werden in Grün und Gap-Downs (negative Lücken) in Rot hinterlegt, sodass sie leicht identifiziert werden können.
Anwendungsbereich:
Dieses Skript ist ideal für Trader, die Gaps in ihren Analysen nutzen, um potenzielle Marktbewegungen zu identifizieren. Es ermöglicht eine schnelle und visuelle Erkennung von signifikanten Kurslücken direkt auf dem Chart und bietet die Flexibilität, die Definition von "signifikant" an die eigenen Bedürfnisse anzupassen.
Haftungsausschluss:
Dieses Skript dient ausschließlich zu Bildungszwecken. Trading beinhaltet Risiken und ist nicht für jeden Anleger geeignet.
(c) BS IMPACT SCALE GmbH
Anomaly Detection with Standard Deviation [CHE]Anomaly Detection with Standard Deviation in Trading
Application for Traders
Traders can use this indicator to identify potential turning points in the market. Anomalies above the upper threshold may indicate overbought conditions, suggesting a possible reversal or sell opportunity. Conversely, anomalies below the lower threshold might signal oversold conditions, presenting a potential buying opportunity. By combining these signals with other technical analysis tools, traders can make more informed decisions and refine their trading strategies.
Introduction
Welcome to this presentation on Anomaly Detection using Standard Deviation in the context of trading. This method helps traders identify unusual price movements that may indicate potential trading opportunities. We will walk through the concept, explain how to set up the indicator, and discuss how traders can utilize it effectively.
Concept Overview
Anomaly Detection using Standard Deviation is a statistical method that identifies price points in a financial market that deviate significantly from the norm. The method relies on calculating the moving average and the standard deviation of a chosen price indicator over a specified period. By defining thresholds (e.g., 3 standard deviations above and below the mean), the method flags these deviations as anomalies, which can signal potential trading opportunities.
1. Selecting the Data Source
Description: The first step in setting up the indicator is choosing the price data that will be analyzed. Common options include the closing price, opening price, highest price, lowest price, or a combination of these (such as the average of the open, high, low, and close prices, known as OHLC4).
Importance: The choice of data source affects the sensitivity and relevance of the detected anomalies.
2. Setting the Calculation Period
Description: The calculation period refers to the number of time units (such as days, hours, or minutes) used to compute the moving average and standard deviation. A typical default period might be 20 units.
Importance: A shorter period makes the indicator more responsive to recent changes, while a longer period smooths out short-term fluctuations and highlights more significant trends.
3. Determining the Number of Displayed Lines and Labels
Description: Traders can configure how many anomaly lines and labels are displayed on the chart at any given time. This is crucial for maintaining a clear and readable chart, especially in volatile markets.
Importance: Limiting the number of displayed anomalies helps avoid clutter and focuses attention on the most recent or relevant data points.
4. Calculating the Mean and Standard Deviation
Description: The mean (or moving average) represents the central tendency of the price data, while the standard deviation measures the dispersion or volatility around this mean.
Importance: These statistical measures are fundamental to determining the thresholds for what constitutes an "anomaly."
5. Defining Anomaly Thresholds
Description: Anomaly thresholds are typically set at 3 standard deviations above and below the mean. Prices that exceed these thresholds are considered anomalies, signaling potential overbought (above the upper threshold) or oversold (below the lower threshold) conditions.
Importance: These thresholds help traders identify extreme market conditions that might present trading opportunities.
6. Identifying Anomalies
Description: The indicator checks whether the high or low prices exceed the defined thresholds. If they do, these price points are flagged as anomalies.
Importance: Identifying these points can alert traders to unusual market behavior, prompting them to consider buying, selling, or holding their positions.
7. Visualizing the Anomalies
Description: The indicator plots the thresholds on the chart as lines, with anomalies highlighted through additional visual cues, such as labels or lines.
Importance: This visualization makes it easy for traders to spot significant deviations from the norm, which might warrant further analysis or immediate action.
8. Managing Displayed Anomalies
Description: To keep the chart organized, the indicator automatically removes the oldest lines and labels when the number exceeds the user-defined limit.
Importance: This feature ensures that the chart remains clear and focused on the most relevant data points, preventing information overload.
Conclusion
The Anomaly Detection with Standard Deviation indicator is a powerful tool for identifying significant deviations in market behavior. By customizing parameters such as the calculation period and the number of displayed anomalies, traders can tailor the indicator to suit their specific needs, leading to more effective trading decisions.
Best regards
Chervolino
AB_Bnf_Selling_5minThe Mathematical Level Reversal Strategy is designed to identify potential reversal points in the market using mathematical levels combined with price action on a 5-minute chart. This strategy is particularly effective for intraday traders who seek to capitalize on precise entry and exit points based on calculated levels rather than traditional indicators like moving averages or Bollinger Bands.
Creators' Mathematical Levels Explanation
Mathematical levels are predetermined price points calculated based on various factors such as previous high/low points, Fibonacci retracements, or other arithmetic calculations. These levels are used to anticipate areas where the price might reverse or experience significant support or resistance.
higher threshold: A predefined level where the price is expected to experience resistance, leading to a potential reversal downward.
Lower Threshold: A predefined level where the price might find support, leading to a potential upward reversal.
In this strategy, we focus on price movements around the upper mathematical level, where prices are likely to reverse downwards.
Strategy Logic
Setup:
The strategy is applied on a 5-minute chart.
Mathematical levels are calculated based on your preferred method, such as Fibonacci levels, pivot points, or custom calculations. For this strategy, let's assume we are using a specific predefined upper level.
Sell Signal Criteria:
A 5-minute candle must cross above the predefined upper mathematical level or close entirely above it (open and close both above the level).
The following candle must break below the low of the candle that crossed the upper level and close below that low. This confirms a bearish reversal.
Once these conditions are met, a sell signal is triggered.
Stop Loss:
The stop loss is placed at the high of the candle that crossed above the upper mathematical level.
This level represents the point where the trade setup would be invalidated.
Take Profit:
Target 1: The first take profit is set at a level that offers a 1:5 risk-to-reward ratio.
Target 2: An alternative take profit level is set at a 1:3 risk-to-reward ratio, providing flexibility based on market conditions.
Trade Management:
Once a trade is initiated, no new trades will be taken until the current trade hits either the stop loss or the first take profit level. This prevents overlapping signals and helps in managing risk effectively.
Originality and Usefulness
This strategy offers a unique approach by using mathematical levels instead of traditional indicators. It provides traders with a clear framework for identifying and executing high-probability reversal trades, particularly in intraday markets.
Originality:
The strategy's originality lies in its reliance on mathematical levels combined with a multi-candle confirmation pattern. This approach reduces the chances of false signals and offers a robust method for identifying potential reversals.
Usefulness:
The strategy is particularly useful for traders who prefer a more quantitative approach, relying on calculated price levels rather than indicators. The clear rules for entry, stop loss, and take profit make it easier to execute consistently.
The inclusion of both 1:5 and 1:3 risk-to-reward targets allows for flexibility depending on market conditions, ensuring that traders can adapt to varying levels of volatility.
Chart Signals and Examples
To demonstrate the effectiveness of this strategy, let's look at a few hypothetical examples on a 5-minute chart:
Example 1: Clear Reversal Signal
The price steadily rises and crosses above the predefined upper mathematical level. The next candle breaks below the low of this candle and closes lower, triggering a sell signal.
A red dotted line is drawn at the stop loss level (the high of the candle that crossed the upper level).
Two green dashed lines are drawn to indicate the first and second take profit levels.
Example 2: No Signal Due to Ongoing Trade
After an initial sell signal is triggered, the price fluctuates but does not hit either the stop loss or the first take profit target. During this period, the strategy refrains from issuing any new signals, adhering to the trade management rule.
Example 3: Trade Reaches Target 1
In another scenario, the price moves sharply in favor of the trade after the signal is triggered. The first take profit level is hit, securing a profit. The trade is then considered closed, and the strategy is ready to issue a new signal when conditions are met.
ChartArt-Bankniftybuying5minName: ChartArt-BankNifty Buying Strategy (5-Minute)
Timeframe: 5-Minute Candles
Asset: BankNifty (Indian Stock Market Index)
Trading Hours: 9:30 AM - 2:45 PM IST (Indian Standard Time)
This strategy is designed for BankNifty intraday traders who want to capitalize on short-term price movements within a defined trading window. It combines technical indicators like Simple Moving Averages (SMA), Relative Strength Index (RSI), and candlestick patterns to identify potential buy signals during intraday downtrends. The strategy employs specific entry, stop-loss, and target conditions to manage trades effectively and minimize risk.
Technical Indicators Used
Simple Moving Averages (SMA):
EMA7: 7-period SMA on closing price.
EMA5: 5-period SMA on closing price.
Purpose: Used to identify the intraday trend by comparing short-term moving averages. The strategy focuses on situations where the market is in a minor downtrend, indicated by EMA5 being below EMA7.
Relative Strength Index (RSI):
RSI14: 14-period RSI, a momentum oscillator that measures the speed and change of price movements.
SMA14: 14-period SMA of the RSI.
Purpose: RSI is used to identify potential reversal points. The strategy looks for situations where the RSI is below its own moving average, suggesting weakening momentum in the downtrend.
Candlestick Patterns:
Relaxed Hammer or Doji (2nd Candle): A pattern where the second candle in a 3-candle sequence shows a potential reversal signal (Hammer or Doji), indicating indecision or a potential turning point.
Bearish 1st Candle: The first candle is bearish, setting up the context for a potential reversal.
Bullish 3rd Candle: The third candle must be bullish with specific characteristics (closing near the high, surpassing the previous high), confirming the reversal.
Strategy Conditions
Time Condition:
The strategy is only active during specific hours (9:30 AM to 2:45 PM IST). This ensures that trades are only taken during the most liquid hours of the trading day, avoiding potential volatility or lack of liquidity towards market close.
Intraday Downtrend Condition:
EMA5 < EMA7: Indicates that the market is in a minor downtrend. The strategy looks for reversal opportunities within this trend.
RSI Condition:
RSI14 <= SMA14: Indicates that the current RSI value is below its 14-period SMA, suggesting potential weakening momentum, which can precede a reversal.
Candlestick Patterns:
1st Candle: Must be bearish, setting up the context for a potential reversal.
2nd Candle: Must either be a Hammer or Doji, indicating a potential reversal pattern.
3rd Candle: Must be bullish, with specific characteristics (closing near the high, breaking the previous high, etc.), confirming the reversal.
RSI Crossover Condition:
A crossover of the RSI over its SMA in the last 5 periods is also checked, adding further confirmation to the reversal signal.
Entry and Exit Rules
Entry Signal:
A buy signal is generated when all the conditions (time, intraday downtrend, bearish 1st candle, hammer/doji 2nd candle, bullish 3rd candle, and RSI condition) are met. The trade is entered at the high of the bullish third candle.
Stop Loss:
The stop loss is calculated based on the difference between the entry price and the low of the second candle. If this difference is greater than 90 points, the stop loss is placed at the midpoint of the second candle's range (average of high and low). Otherwise, it is placed at the low of the second candle.
Target 1:
The first target is set at 1.8 times the difference between the entry price and the stop loss. When this target is hit, half of the position is exited to lock in partial profits.
Target 2:
The second target is set at 3 times the difference between the entry price and the stop loss. The remaining position is exited at this point, or if the price hits the stop loss.
Originality and Usefulness
This strategy is original in its combination of multiple technical indicators and candlestick patterns to identify potential reversals in a specific intraday timeframe. By focusing on minor downtrends and utilizing a 3-candle reversal pattern, the strategy seeks to capture quick price movements with a structured approach to risk management.
Key Benefits:
High Precision: The strategy’s multi-step filtering process (time condition, trend confirmation, candlestick pattern analysis, and momentum evaluation via RSI) increases the likelihood of accurate trade signals.
Risk Management: The use of a dynamic stop-loss based on candle characteristics, combined with partial profit-taking, allows traders to lock in profits while still giving the trade room to develop further.
Structured Approach: The strategy provides a clear, rule-based system for entering and exiting trades, which can help remove emotional decision-making from the trading process.
Charts and Signals
The strategy produces signals in the form of labels on the chart:
Buy Signal: A green label is plotted below the candle that meets all entry conditions, indicating a potential buy opportunity.
Stop Loss (SL): A red dashed line is drawn at the stop-loss level with a label indicating "SL".
Target 1 (1st TG): A blue dashed line is drawn at the first target level with a label indicating "1st TG".
Target 2 (2nd TG): Another blue dashed line is drawn at the second target level with a label indicating "2nd TG".
These visual aids help traders quickly identify entry points, stop loss levels, and target levels on the chart, making the strategy easy to follow and implement.
Backtesting and Optimization
Backtesting: The strategy can be backtested on TradingView using historical data to evaluate its performance. Traders should consider testing across different market conditions to ensure the strategy's robustness.
Optimization: Parameters such as the RSI period, moving averages, and target multipliers can be optimized based on backtesting results to refine the strategy further.
Conclusion
The ChartArt-BankNifty Buying Strategy offers a well-rounded approach to intraday trading, focusing on capturing reversals in minor downtrends. With a strong emphasis on technical analysis, precise entry and exit rules, and robust risk management, this strategy provides a solid framework for traders looking to engage in intraday trading on BankNifty.
Combined Bitcoin CME Gaps and Weekend DaysScript Description: Combined Bitcoin CME Gaps and Weekend Days
Author: NeoButane (Bitcoin CME Gaps), JohnIsTrading (Day of Week),
Contributor : MikeTheRuleTA (Combined and optimizations)
This Pine Script indicator provides a combined view of Bitcoin CME gaps and customizable weekend day backgrounds on your chart. It’s designed to help traders visualize CME gaps along with customizable weekend day highlights.
Features:
CME Gaps Visualization:
Enable CME Gaps: Toggle the display of CME gaps on your chart.
Show Real vs. CME Price: Choose whether to display chart prices or CME prices for gap analysis.
Weekend Gaps Only: Filter to show only weekend gaps for a cleaner view (note: this may miss holidays).
CME Gaps Styling:
Weekend Background Highlighting:
Enable Weekend Background: Toggle the weekend day background highlight on or off.
Timezone Selection: Choose the relevant timezone for accurate weekend highlighting.
Customizable Weekend Colors: Define colors for Saturday and Sunday backgrounds.
How It Works:
CME Gaps: The script identifies gaps between CME and chart prices when the CME session is closed. It plots these gaps with customizable colors and line widths.
You can choose to see gaps based on CME prices or chart prices and decide whether to include only weekends.
Weekend Backgrounds: The script allows for background highlighting of weekends (Saturday and Sunday) on your chart. This can be enabled or disabled and customized with specific colors.
The timezone setting ensures that the background highlights match your local time settings.
Inputs:
CME Gaps Settings:
Enable CME Gaps
Show Real vs. CME Price
Only Show Weekend Gaps
CME Gaps Style:
Gap Fill Color Up
Gap Fill Color Down
Gap Fill Transparency
Weekend Settings:
Enable Weekend Background
Timezone
Enable Saturday
Saturday Color
Enable Sunday
Sunday Color
Usage:
Add this script to your TradingView chart to overlay CME gaps and weekend highlights.
Adjust the settings according to your preferences for a clearer view of gaps and customized weekend backgrounds.
This indicator provides a comprehensive tool for tracking CME gaps and understanding weekend market behaviors through visual enhancements on your trading charts.
Multi-Timeframe 325 SMA TouchMulti-Timeframe 325 SMA Touch Indicator
This versatile indicator detects and visualizes when the price touches (crosses over or under) the 325-period Simple Moving Average (SMA) across multiple timeframes. It's designed to help traders identify potential support and resistance levels across various time horizons.
Key Features:
Monitors 7 different timeframes: 30 minutes, 1 hour, 2 hours, 4 hours, 6 hours, 12 hours, and 1 day.
Customizable: Each timeframe can be toggled on or off individually.
Visual cues: Unique shapes and colors for each timeframe make it easy to distinguish touches on different time scales.
Adjustable SMA length: While defaulted to 325 periods, the SMA length can be modified to suit your strategy.
Current timeframe SMA: Displays the 325 SMA on the chart for additional context.
How it Works:
The indicator checks for price touches on the 325 SMA for each selected timeframe. When a touch occurs, it plots a distinct shape below the price bar:
30 minutes: Blue circle
1 hour: Green square
2 hours: Red triangle (up)
4 hours: Purple diamond
6 hours: Teal triangle (down)
12 hours: Orange X
1 day: White circle
The 325 SMA for the current chart timeframe is also plotted as a yellow line for reference.
Use Cases:
Identify potential support and resistance levels across multiple timeframes
Spot confluences where touches occur on multiple timeframes simultaneously
Enhance your multi-timeframe analysis for more informed trading decisions
Use as a filter or confirmation tool in your existing trading strategy
Customization:
You can easily customize the indicator by adjusting the SMA length or toggling specific timeframes on/off to focus on the time horizons most relevant to your trading style.
Big Bar Followed by Doji/PinbarUsed find doji/pinbars after a Big candle showing the potential Morning/Evening star formation after x amount of consecutive up moves.
1. Doji Threshold (dojiThreshold)
What is a Doji?: A doji is a candlestick pattern where the opening and closing prices are very close to each other. It represents indecision in the market.
Threshold Explanation: The dojiThreshold is used to define what qualifies as a doji by comparing the size of the candle's body (the difference between the opening and closing prices) to the total range of the candle (the difference between the high and low prices).
How it works:
The formula in the script checks if the absolute difference between the close and open is less than or equal to a percentage of the entire candle's range.
Example: If the dojiThreshold is set to 0.1 (or 10%), this means that for a candle to be considered a doji, the size of the body (the difference between the open and close) must be 10% or less of the total candle's range (the difference between the high and low prices).
In other words, if the body is small enough (based on the threshold), the candle is considered a doji.
2. Pinbar Body Size (pinbarBodySize)
What is a Pinbar?: A pinbar (short for "pinocchio bar") is a candlestick pattern with a small body and a long wick (or shadow) on one side, indicating a potential reversal. The longer wick represents a rejection of a certain price level.
Body Size Explanation: The pinbarBodySize defines the maximum proportion of the candle's total range that the body can occupy for the candle to be considered a pinbar.
How it works:
The script compares the size of the body to the total range of the candle.
Example: If pinbarBodySize is set to 0.3 (or 30%), the body of the candle must be 30% or less of the total range for it to be considered a pinbar. This ensures that the candle has a small body and, therefore, a relatively long wick on one side.
The script then checks whether the longer wick is on the upper or lower side of the candle to determine if it's a valid pinbar pattern.
Summary:
Doji: The dojiThreshold parameter sets how close the open and close prices need to be relative to the candle's range for the candle to be considered a doji.
Pinbar: The pinbarBodySize parameter sets the maximum size of the body relative to the candle's total range to qualify it as a pinbar.
Both of these thresholds are adjustable in the script, allowing you to fine-tune what qualifies as a doji or pinbar based on your trading style and the market conditions you're analyzing.
9:20 5 Min Candle Levels with AlertsThe 9:20 AM 5-Minute Candle refers to the candlestick that represents the price action of a financial asset between 9:20 AM and 9:25 AM on a trading day. This candle is observed on a 5-minute chart and captures all the market activity during this specific time window.
Description:
Timeframe: 9:20 AM to 9:25 AM (5-minute interval).
Opening Price: The price at 9:20 AM when the 5-minute period begins.
Closing Price: The price at 9:25 AM when the 5-minute period ends.
High: The highest price achieved during these five minutes.
Low: The lowest price reached during these five minutes.
Body: The distance between the opening and closing prices. A longer body indicates stronger buying or selling pressure, while a shorter body reflects more market indecision.
Wick (Shadow): The lines extending above and below the body, representing the range between the high and low prices during this period. Long wicks suggest higher volatility, while shorter wicks indicate more stable price movements.
Significance:
Bullish Candle: If the closing price is higher than the opening price, it suggests positive momentum and buying interest within this 5-minute period.
Bearish Candle: If the closing price is lower than the opening price, it signals negative momentum and selling pressure.
Market Sentiment: The 9:20 AM 5-minute candle can provide insight into the early sentiment of the market, often influencing the trading strategy for the rest of the day.
Volatility Indicator: The length of the wicks can help traders assess the volatility and potential risk during these five minutes.
This candle is particularly important for day traders and scalpers who rely on short-term price movements to make trading decisions.
Mystic Pulse [CHE]Mystic Pulse - A Non-Lagging Trend Indicator
Introduction
In the world of trading, identifying trends accurately and timely is crucial for successful decision-making. The saying "The Trend is Your Friend" encapsulates this principle, emphasizing the importance of riding the prevailing market trend. The Mystic Pulse indicator is designed to help traders do exactly that—detect trends early and follow them with confidence.
This presentation will walk you through how the Mystic Pulse indicator functions, its advantages, and how it can be a powerful tool in your trading arsenal.
Key Features of Mystic Pulse
Non-Lagging Signals: Unlike traditional indicators that often lag the market, Mystic Pulse generates trend signals in real-time, ensuring you are always in sync with the current market direction.
Adaptive Smoothing: The indicator employs a smoothing factor that dynamically adjusts based on recent price action, reducing noise and focusing on significant market movements.
Directional Movement Analysis: By calculating the directional movement index (DI+ and DI-) with a unique smoothing approach, the indicator identifies whether bulls or bears are in control.
Trend Counting Logic: The indicator counts consecutive positive and negative trend signals, providing a clear visual representation of the market’s direction.
Customizable Candle Colors: For better visual clarity, the indicator allows for customization of candle colors, highlighting neutral, bullish, or bearish candles based on trend strength.
Understanding the Indicator
1. Directional Movement and ADX Calculation
The Mystic Pulse uses a modified ADX calculation known as ZLAG ADX. It assesses true range, directional movement (both positive and negative), and smoothes these values over a specified length. This helps in capturing the essence of market trends without lag:
True Range (TR): Measures market volatility by comparing the high-low range to the previous close.
Directional Movement: Determines whether bulls (DI+) or bears (DI-) are gaining strength.
These components are then smoothed using a custom formula that adapts to recent price movements, ensuring that the signals remain relevant and timely.
2. Trend Counting Mechanism
The heart of Mystic Pulse is its trend counting logic:
Positive Trend Count: Increases when DI+ shows strengthening bullish signals.
Negative Trend Count: Increases when DI- indicates stronger bearish control.
Total Trend Count: Reflects the dominant trend by comparing positive and negative counts.
This counting mechanism ensures that the indicator is always aware of the current market bias, updating in real-time.
3. Visualization and Signal Generation
The indicator provides visual cues through color-coded plots:
Green Plot: Indicates an ongoing uptrend (positive trend count is higher).
Red Plot: Signals a downtrend (negative trend count is higher).
Neutral Candles: Optionally highlighted when neither bulls nor bears dominate, offering a clearer view of indecisive market conditions.
Application and Strategy
The Mystic Pulse indicator is ideal for traders who prefer trend-following strategies. Here's how you can apply it effectively:
Entry Points: Enter trades when the trend count strongly favors one direction, indicated by consecutive green (bullish) or red (bearish) plots.
Exit Points: Consider exiting when the opposite trend starts to gain traction, signaled by a change in the dominant color.
Risk Management: Use the neutral candle display to avoid trades in uncertain market conditions, thereby reducing risk.
Conclusion
The Mystic Pulse indicator is a sophisticated tool that helps traders stay aligned with market trends, offering non-lagging, adaptive signals. Its design reflects the trading philosophy "The Trend is Your Friend," enabling you to follow the market's lead with confidence.
By incorporating this indicator into your trading strategy, you can enhance your ability to identify and capitalize on emerging trends, minimizing lag and maximizing potential returns.
Q&A
If you have any questions or would like to see a live demonstration of the Mystic Pulse in action, feel free to ask.
Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (CHE) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Best regards Chervolino
T-Wave Pattern IdentifierA T-wave might describe a pattern where the price movement forms a "T" shape on the chart, which could involve:
Strong Vertical Movement (The Stem of the T):
This could represent a sharp, decisive move in one direction (up or down), often occurring in a single candle or a few candles. This movement could be seen as the "stem" of the T.
For example, a sudden spike up in price followed by a horizontal consolidation.
Horizontal Movement (The Cross of the T):
Following the sharp move, the price might consolidate sideways, forming a horizontal base or resistance/support level, which creates the top cross of the "T."
This could indicate a pause or a consolidation phase after a significant move, where the price moves within a narrow range.
Contexts Where a T-Wave Pattern Might Be Useful:
Breakout Scenarios: If a T-wave forms after a significant upward or downward movement, it could suggest a potential continuation in the direction of the initial move, especially if the price breaks out of the consolidation range.
Reversal Signals: Alternatively, the T-wave could act as a reversal pattern if the price fails to continue in the direction of the initial move and instead breaks out in the opposite direction.
T-Wave Logic Example:
Stem (Vertical Movement):
Identify a candle or series of candles with a significant price move (e.g., a large-bodied candle with a relatively small wick). This shows momentum in one direction.
Cross (Horizontal Movement):
Following the vertical move, identify a consolidation phase where the price moves sideways in a relatively tight range. This could be visualized as a series of small candles with overlapping highs and lows.
Envelope with Kernel Selection [CHE] Envelope with Kernel Selection Indicator Overview
The "Envelope with Kernel Selection " is a versatile technical analysis tool designed to help traders identify market trends and trading signals. This indicator allows traders to spot signals in two primary ways: through the plotshape markers, which indicate specific price crossovers, and via the background color, which visually represents the current market trend.
Key Features and Advantages:
1. Dual Signal Mechanism:
- Plotshape Markers: The indicator uses visual markers (arrows) on the chart to highlight when the price crosses above or below the envelope bands. These markers act as clear trade signals, helping traders identify potential buy or sell opportunities.
- Background Color for Trend Identification: In addition to plotshape markers, the indicator can also use the chart's background color to indicate overall market direction. A green background suggests a bullish trend, while a red background indicates a bearish trend. This dual signal mechanism provides traders with both precise entry/exit points and an easy-to-read trend indicator.
2. Customizable Background Color Feature:
- Background Color Toggle: The background color feature can be turned on or off using the `bgColorEnabled = input.bool(true, "Background Color On / Off")` setting. When this setting is enabled (`true`), the background color dynamically changes based on the market's trend, offering an additional visual cue. If the setting is disabled (`false`), the background color remains neutral, allowing traders to focus solely on the plotshape signals or other chart elements.
- Visual Clarity: When enabled, the background color helps traders quickly gauge the market's trend without analyzing detailed chart patterns, making it easier to identify whether the market is in a bullish or bearish phase.
3. Customizable Kernel Selection for Enhanced Smoothing:
- Diverse Kernel Options: The indicator provides six different kernel functions (Linear, Exponential, Epanechnikov, Triangular, Cosine, Gauss) for smoothing price data. Traders can select the kernel that best suits their analysis style, allowing for precise adjustment to market conditions.
- Improved Trend Accuracy: By choosing the appropriate kernel function, traders can either focus on short-term price movements or capture broader trends more effectively, thus improving the accuracy of their market analysis.
4. Non-Repainting Signals for Reliability:
- Consistency in Signals: The indicator’s non-repainting nature ensures that once a signal (such as a crossover or trend change) is generated, it does not change with future price movements. This consistency is crucial for making reliable trading decisions, especially when backtesting or executing strategies based on historical data.
- Dependable Trading: Traders can rely on the signals provided by this indicator to remain consistent, which enhances confidence in decision-making and reduces the risk of false signals.
5. Dynamic Trend Bands:
- Adaptive Support and Resistance: The indicator calculates and displays upper and lower trend bands around a midline based on the selected kernel function. These bands act as dynamic support and resistance levels, guiding traders in identifying potential reversal zones.
- Versatility in Various Market Conditions: The bands can be adjusted for different market volatilities using the bandwidth setting, making the indicator suitable for both trending and ranging markets.
6. Clear Visual Indicators for Crossovers:
- Easy-to-Spot Trade Signals: The indicator uses arrows to mark when the price crosses the upper or lower bands. A green arrow indicates a potential buy signal, while a red arrow indicates a potential sell signal. These visual markers simplify the identification of entry and exit points.
- Enhanced Precision: By clearly marking crossover points, the indicator helps traders execute trades with greater precision, reducing the likelihood of missed opportunities.
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In summary, the "Envelope with Kernel Selection " offers traders a powerful combination of visual signals through plotshape markers and background color changes. Its customizable kernel selection, non-repainting nature, and dynamic trend bands make it a comprehensive and reliable tool for market analysis and trading. Whether you prefer clear trade signals or broader trend identification, this indicator provides the flexibility and accuracy needed to make informed trading decisions.
Best regards
Chervolino
Double Bottom and Top Hunter### Türkçe Açıklama:
Bu strateji, grafikte ikili dip ve ikili tepe formasyonlarını tespit ederek otomatik alım ve satım işlemleri gerçekleştirir. İkili dip, fiyatın belirli bir dönem içinde iki kez en düşük seviyeye ulaşması ile oluşur ve bu durumda strateji long (alım) işlemi açar. İkili tepe ise fiyatın belirli bir dönem içinde iki kez en yüksek seviyeye ulaşması ile oluşur ve bu durumda strateji short (satış) işlemi açar.
- **Dönem Uzunluğu ve Geriye Dönük Kontrol:** Strateji, varsayılan olarak 100 periyotluk bir zaman dilimini temel alır ve bu süre boyunca en düşük ve en yüksek fiyat seviyelerini belirler. Geriye dönük kontrol süresi de 100 periyot olarak ayarlanmıştır.
- **İşlem Açma Koşulları:** İkili dip tespit edildiğinde long pozisyon, ikili tepe tespit edildiğinde short pozisyon açılır.
- **İşlem Kapatma Koşulları:** İkili dipte, en yüksek seviyeye (HH) ulaşıldıktan sonra fiyatın daha düşük bir seviye (LL) yapması durumunda pozisyon kapanır. İkili tepede ise tam tersi bir durumda, pozisyon kapanır.
- **Zigzag Çizimi:** İkili dip ve tepe formasyonları, grafik üzerinde yeşil (dipler) ve kırmızı (tepeler) zigzag çizgileri ile gösterilir.
Bu strateji, özellikle 1, 3 ve 5 dakikalık kısa zaman dilimlerinde yüksek başarı oranına sahiptir ve piyasadaki kısa vadeli trend dönüşlerini yakalamada etkili bir araçtır.
### English Explanation:
This strategy automatically executes buy and sell orders by detecting double bottom and double top formations on the chart. A double bottom occurs when the price reaches a low level twice within a specific period, prompting the strategy to open a long (buy) position. Conversely, a double top forms when the price reaches a high level twice, leading the strategy to open a short (sell) position.
- **Period Length and Lookback Control:** By default, the strategy is based on a 100-period length, during which it identifies the lowest and highest price levels. The lookback control period is also set to 100 periods.
- **Entry Conditions:** A long position is opened when a double bottom is detected, while a short position is opened when a double top is identified.
- **Exit Conditions:** In the case of a double bottom, the position is closed after the price reaches a higher high (HH) and then makes a lower low (LL). For a double top, the opposite occurs before closing the position.
- **Zigzag Plotting:** The double bottom and top formations are visually represented on the chart with green (bottoms) and red (tops) zigzag lines.
This strategy is particularly successful in short timeframes such as 1, 3, and 5 minutes and is an effective tool for capturing short-term trend reversals in the market.
Configurable Level Trading StrategyThe Dynamic Level Reversal Strategy is a trading approach designed to capitalize on price movements between key support and resistance levels. This strategy leverages configurable levels the trader determines, allowing for flexibility and adaptation to different market conditions.
Key Features:
Configurable Levels:
The strategy uses three key levels: Level 1 (Support), Level 2 (Middle), and Level 3 (Resistance). These levels can be adjusted directly within the script settings, making the strategy adaptable to various trading scenarios.
Buy and Sell Signals:
A buy signal is triggered when the price touches Level 1 and shows signs of reversal. The trader enters a position and sets an initial stop-loss just below Level 1.
As the price moves upward, the stop-loss is dynamically adjusted to just below Level 2 and Level 3, locking in profits while managing risk.
A sell signal is generated if the price reverses and crosses below the current stop-loss level, ensuring the trader exits the position with minimized losses.
Iterative Process:
The strategy allows for iterative trades, where the trader re-enters positions at Level 1 or Level 2 if the price revisits these levels, continually adjusting stop-losses and take-profit targets as the price oscillates between the defined levels.
Ideal Use Cases:
Range-Bound Markets: The strategy is particularly effective in markets where the price tends to oscillate between well-defined support and resistance levels.
Volatile Markets: The dynamic adjustment of stop-loss levels helps protect against sudden price reversals, making it suitable for volatile market conditions.
How to Use:
Set the desired levels (Level 1, Level 2, Level 3) based on your market analysis.
The script will automatically generate buy and sell signals, and adjust stop-loss levels as the price moves through the levels.
Monitor the signals and execute trades according to the strategy's guidelines.
Weekly Profiles [TFO]This Weekly Profiles indicator was built to overlay historical data to show how prior weeks of price action have unfolded under specified input conditions.
When "Show Historical Weekly Profiles" is enabled, the indicator draws out how prior weeks have traded. This is done by tracking weekly price movements, measuring the percent change from each week's respective weekly open price, and translating that percent change to the current week's open price to visually describe how price fluctuated in those previous weeks.
With "Show Weekly Profile Table" enabled, we can observe some basic statistics on the weekly profiles that have been collected, such as the average range and which days have made the high/low of the week from the given dataset.
There are also options to refine the dataset by specifying which days have made the high/low of the week, which will only show profiles that meet said criteria. For instance, by enabling "Low of Week" and selecting "Monday", the indicator will show every weekly profile that made its low on a Monday. In the following chart, we can again use the table to observe that we currently have 14 such weeks on NQ1! (from the data available on our current chart timeframe and TradingView plan), whose average range is 3.65% from the week's low to the week's high, and from those 14 weeks, the high of the week was made on a Friday 10 times or 71% of the time.
The "Profile Resolution" option specifies the interval at which to show changes in price (given that it is greater than or equal to the current chart timeframe). In the below chart, the Profile Resolution is set to 4 hours. As such, it simplifies the profiles by tracking the close price of each 4 hour candle (again as a percent change from each profile's respective open price). The larger Profile Resolution can make it easier to observe commonalities between profiles, such as the below chart of NQ1! that highlights a noticeable price decrease during the New York morning session across several of the available weekly profiles.
There is also an option to "Highlight Closest Profiles" which does exactly that. Essentially, all weekly profiles are given a score according to how close the current week's price action is matching each profile up until the current point in time. For example, if one were observing this indicator on a Wednesday afternoon, each profile would be scored according to how close price is to each profile, starting from the weekly open, up until the Wednesday afternoon of each profile. Everything after that point in time is disregarded since it hasn't happened yet and can't be measured. With this in mind, profiles with greater similarity to the current week are highlighted with deeper colors, and profiles with lesser similarity are given lighter, more transparent colors.
The "Randomize Colors" option will use various colors for the weekly profiles for easier visual differentiation (especially where there are several profiles crowding each other), as opposed to otherwise having one color for all profiles. Lastly, there are basic styling options to control the table position, table size, and the line width of all weekly profiles.
