[TTI] IBD Base Analysis (WEEKLY)📜 ––––HISTORY & CREDITS––––
This indicator, titled " IBD Base Analysis (WEEKLY)," is an original creation by TinTinTrading. It synthesises multiple metrics and visual cues to provide a comprehensive overview of market bases on a weekly timeframe. It is based on the teachings of Investors Business Daily (IBD) and William O'Neil. Mainly from attending all IBD Seminars, Courses and part of man IBD MeetUps. I have compiled most criteria and made it into indicator.
🦄 –––UNIQUENESS–––
What sets this indicator apart is its multi-faceted approach to base analysis. It doesn't just measure base depth or length, or plot a base structure with target (Cup with Handle, Double Bottoms, Flat Bases or other);
The IBD Base Analysis (WEEKLY) allows the user to pick the beginning and end of base and then runs through the criteria for a HEALTHY vs FAULTY Bases. The script is intended for a Weekly timeframe and is base agnostic - hence it can be used on any base pattern you want to analyse. By using the script you will be able to grab a quick visual if there are any faulty characteristics that you have be aware of. Furthermore, its user-friendly interface, complete with customisable color-coding and toggle-able advanced metrics, makes it a great tool for both novice and expert traders to incorporate into their trading.
🛠️ ––––WHAT IT DOES––––
👉 Analysis Table with customisable position. Each cell has additional information when you hover over it with a mouse to show what is required and what is faulty. The cells are color coordinated by user customisable color-coding. If the cell is green then it is bullish. If it is orange then it is soft violating condition and if it is red it is bearish.
Depth: First we look at the Depth of the base expressed in percent
Length: How many weeks long is the base
Number of Weeks under Accumulation (Acc Wks)
Number of Weeks under Distribution (Distrb Wks)
Number of Weeks showing Supporting action
Number of weeks which show wide and loose action (unfavorable), "10% WKs)
Number of weeks we close above the mid point
Grading of the close within the first 3 weeks after bottoming
Counting the Gap ups vs Gap down for the given period
👉 Base plots
+ plot under weeks where we have a tight action compared to previous week - this is considered favorable
▲ plot under down weeks where we show supporting action
⏺ appear under the 3 most important weeks in the base: The Week at the bottom, The week with the Largest Spread and the Week with the Largest Volume. Green means bullish action, Orange means soft violation. The tooltips on the circles show the Closing Range of the week.
- midpoint (in blue), this draws the midpoint within the base.
👉 18 month line - According to IBD the True Market Leaders Breakout and run for on average of 18 months before topping. For this reason I have included a customizable on/off line that plots 18 months back. What I want to see is if the stock has been in a strong uptrend (Stage 2 accumulation for those knowing the Stan Weinstein methodology) for the last18 months. If yes, you ought to consider the base higher risk than one that is just starting its move.
💡 ––––HOW TO USE IT––––
Add the indicator to your chart
Determine the beginning and the end of the base (use the settings in the indicator or drag the verical blue lines)
Read the price action based on the coloring and the criteria explained in the tooltips. Additionally familiarize yourself with the general tips for reading a base below.
💡 ––––GENERAL TIPS FOR READING THE ANALYSIS TABLE––––
Depth: IBD recommends bases to be under 30%. However, during a strong bear market some stocks can exhibit 1.5-2x the volatility. Yet, it is key within the IBD methodology to buy breakouts from proper Non-deep bases
Length: Many newer traders misinterpret small patterns for bases. This common misunderstanding is addressed by calculating the length of the base and determining if it is developed or immature.
Number of Weeks under Accumulation (Acc Wks): This is the first thing the late Market Wizard William O'neill looks into the base. How many weeks are showing signs of accumualtion and how many are showing signs of distribution (the cell below). Always look for Accumulation weeks to be more than distribution weeks.
Number of Weeks under Distribution (Dist Wks): See above
Number of Weeks showing Supporting action: New traders determine down week as bearish. However, within the methodology and extensive research IBD has given criteria of down weeks that are actually a bullish sign. Counting the number of weeks within the base that meet this criteria gives us this metric.
Number of weeks which show wide and loose action: If the base is not compact but it is wide and loose it is considered an unfavorable pattern. Generally, occurs within Stage 3 of a stock topping.
Wks > Mid: Utilizes a simple 'hack' of base reading. How many weeks have closed above the mid level of the base and how many have closed below the mid level of the base.
Grading of the close within the first 3 weeks of the bottom: The next cell looks at the price action subsequent of the 3 weeks after the bottom. These are very important as they show if accumulation is happening (strengthening the breakout hypothesis) or if it is not.
Counting the Gap ups vs Gap down for the given period: Lastly gaps are key footprint of institutional moves. We look for the number of DAILY gaps on the WEEKLY timeframe and compare the daily gap up vs the daily gap downs within the base.
REMEMBER, ALL TRADING INCLUDES RISK. NEVER RELY SOLELY ON A SINGLE INDICATOR. INCORPORATE IT INTO YOUR BROADER TRADING METHODOLOGY AS A COMPLEMENTING SOURCE OF INFORMATION.
Chart patterns
HL 930 by JPThe "High and Low of 9:30 Candle" strategy is a simple trading strategy commonly used in the stock market and other financial markets. It involves using the price range (high and low) of the first candlestick that forms at the opening of a trading session, typically at 9:30 AM, as a basis for making trading decisions. Here's a description of this strategy:
1. Timeframe: This strategy is often applied to intraday trading, where traders focus on short-term price movements within a single trading day.
2. 9:30 AM Candle: The strategy begins by observing the first candlestick that forms at 9:30 AM, which is the opening time for many stock markets, including the New York Stock Exchange (NYSE). This candle represents the price action during the first few minutes of trading.
3. High and Low: Identify the highest price (the candle's high) and the lowest price (the candle's low) during the 9:30 AM candle's time period. These price levels are critical for the strategy.
4. Trading Decisions:
Long (Buy) Signal: If the current market price breaks above the high of the 9:30 AM candle, it may trigger a bullish signal. Traders may consider entering a long (buy) position, anticipating further upward momentum.
Short (Sell) Signal: Conversely, if the market price breaks below the low of the 9:30 AM candle, it may trigger a bearish signal. Traders may consider entering a short (sell) position, anticipating further downward movement.
5. Stop-Loss and Take-Profit: To manage risk, traders often set stop-loss orders just below the low (for long positions) or just above the high (for short positions) of the 9:30 AM candle. They may also establish take-profit levels based on their risk-reward preferences.
6. Time Frame: This strategy is typically used for short-term trading and may be effective in capturing quick price movements that often occur at the market open. Traders often close their positions before the end of the trading day.
7. Caution: While the "High and Low of 9:30 Candle" strategy can be straightforward, it should not be used in isolation. Traders should consider other technical and fundamental factors, such as volume, market sentiment, news events, and overall market trends, when making trading decisions.
Remember that trading strategies always carry risks, and it's essential to have a well-thought-out risk management plan in place. Additionally, backtesting and practice are crucial before implementing any trading strategy in a live market to evaluate its historical performance and suitability for your trading style.
AAD Research ZeroesIt calculates the "zero" candles for selected period in percentage (here we have 4 hours - 240 minutes, but you can set any you like).
Zero candle mean equal open=close with previous candle.
So as I see from my stats if >5% for 4 hours then do not trade it. That mean there are no volatility on that asset.
CCPD Candle Color Price DetectorThe "CCPD Candle Color Price Detector" is a custom indicator developed for TradingView, a popular platform for technical analysis and trading. This indicator assists traders in identifying potential trend reversals and assessing market sentiment based on candlestick color changes and key price levels.
This indicator operates as follows:
Color Change Detection: It primarily focuses on the color of candlesticks (green for bullish and red for bearish). When a candlestick closes higher than it opens, it is considered green (bullish), and when it closes lower, it is red (bearish).
High and Low Analysis: The indicator calculates the highest high and lowest low over a user-defined number of bars (specified by the 'Bars for High/Low' input parameter). This helps identify recent price extremes.
Midpoint Calculation: It then computes the midpoint between the highest high and lowest low, effectively determining a central reference point within the specified period.
Signal Generation: Buy and sell signals are generated based on the relationship between the current candlestick's close price, the midpoint, and the candlestick color. Buy signals occur when a green candle closes above the midpoint, suggesting potential bullish momentum. Conversely, sell signals trigger when a red candle closes below the midpoint, indicating possible bearish pressure.
Visualization: The indicator visualizes the highest high, lowest low, midpoint, and additional lines to aid in understanding the price action and potential reversal points.
Alerts: It provides alerts for buy and sell signals, allowing traders to receive notifications when potential trading opportunities arise.
Usage:
Traders can utilize the "CCPD Candle Color Price Detector" in the following ways:
Trend Reversal Identification: This indicator can help traders spot potential trend reversals by signaling when candlestick colors change and close near the midpoint. Buy and sell signals offer entry points for trades based on these reversals.
Confirmation Tool: It can be used in conjunction with other technical analysis tools to confirm trading decisions. For example, a buy signal from this indicator, coupled with a bullish trendline break or a bounce from a key support level, may provide a stronger bullish signal.
Risk Management: By understanding potential reversal points and using stop-loss orders, traders can better manage their risk and protect their capital when entering positions based on the indicator's signals.
Customization: The indicator allows users to adjust the number of bars for high/low calculations, making it adaptable to different trading strategies and timeframes.
In summary, the "CCPD Candle Color Price Detector" is a versatile indicator that can aid traders in spotting potential trend changes, enhancing trading decisions, and managing risk effectively. However, like any trading tool, it should be used in conjunction with other analysis methods and risk management strategies for optimal results.
Zaree - FX Index RSI IndicatorDescription:
The "Zaree - FX Index RSI Indicator" (FIRI) is a technical analysis tool designed to provide insights into the relative strength of two selected currency indices using the Relative Strength Index (RSI). It allows traders to compare the RSI values of a primary currency index and a secondary currency index, helping them identify potential overbought and oversold conditions in the currency market.
Details of the Indicator:
The indicator calculates the RSI for both the primary and secondary currency indices based on the user's selections.
Traders can choose from a variety of currency indices to use as the primary and secondary indices for comparison.
The indicator offers settings for customizing the calculation of the RSI, including selecting the type of moving average (SMA, EMA, WMA, SMMA) and adjusting the length of the RSI and moving average.
Upper and lower RSI bands are displayed on the chart to highlight potential overbought and oversold conditions.
The RSI values and their corresponding moving average values are plotted on the chart, allowing traders to visually analyze the relative strength of the indices.
How to Use the Indicator:
Select the primary and secondary currency indices you want to compare from the provided dropdown menus. These indices will serve as the basis for RSI calculation.
Choose the type of moving average (SMA, EMA, WMA, SMMA) to use for RSI calculation and set the desired length for the moving average.
Decide whether you want to visualize the RSI and moving average values for the primary and secondary indices on the chart.
Observe the RSI values and moving averages plotted on the chart. The indicator's upper and lower bands can help you identify potential overbought (above the upper band) and oversold (below the lower band) conditions.
Pay attention to the intersections between the RSI values and the moving average lines. These intersections can provide insights into potential trend changes or reversals in the currency market.
Example of Usage:
Let's say you're a swing trader focusing on currency pairs involving the US Dollar (USD) and Euro (EUR). You want to compare the relative strength of the USD Index (USDINX) and the EUR Index (EURINX) to identify potential trading opportunities. Here's how you can use the FIRI indicator:
Select "USDINX" as the primary index and "EURINX" as the secondary index.
Choose "SMA" as the moving average type and set the RSI length to 14.
Enable the visualization of RSI values for both the primary and secondary indices.
Observe the chart to identify instances where the RSI values of the indices cross above the upper band (potential overbought) or below the lower band (potential oversold).
Look for intersections between the RSI values and the moving average lines. A bullish signal may occur when the RSI crosses above the moving average, indicating potential upward momentum, while a bearish signal may occur when the RSI crosses below the moving average, indicating potential downward momentum.
Remember that the FIRI indicator is a tool to assist you in your analysis. It's important to consider other technical and fundamental factors before making trading decisions.
Feel free to adjust the settings of the indicator based on your trading preferences and strategy. Keep in mind that no indicator is foolproof, and it's recommended to use the FIRI indicator in conjunction with other analysis techniques for a comprehensive trading approach.
Sideways Market Identifier (FinnoVent)The Sideways Market Identifier (SMI Indicator) aims to identify when the market is trading in a sideways pattern. This is particularly useful for traders who specialize in range-bound strategies or those looking to avoid trading in choppy market conditions. The indicator changes the background and the color of the candles to grey when the conditions for a sideways market are met.
How It Works
The SMI Indicator combines three popular trading metrics: Bollinger Bands, the Average Directional Index (ADX), and the Relative Strength Index (RSI):
Bollinger Bands: Checks if the close price is within a certain range of the middle Bollinger Band. Specifically, it checks if the close price is between the 20% and 80% range of the band's width.
ADX: Helps to identify the strength of a trend. A value under 30 suggests that the market is not strongly trending in either direction.
RSI: Measures the speed and change of price movements. A value between 40 and 60 suggests a lack of strong momentum.
How to Use
Apply the SMI Indicator to your chart.
When the background and the candles turn grey, the market is likely in a sideways pattern.
Disclaimer
This indicator is intended for educational and analytical purposes only. It is not a recommendation to buy or sell any financial instrument. Always conduct your own analysis and consult with a financial advisor before making trading decisions.
Advanced Optimized VSA - 15 MinThis script is written in Pine Script and is designed to be run on the TradingView trading platform. It is an advanced technical analysis indicator that utilizes various methods and indicators to generate trading signals based on a Volume Spread Analysis (VSA) approach.
Here's a detailed breakdown of its functionalities:
### Customizable Parameters:
1. `scoreLabel` and `TDLabel`: Customizable labels for score and trend direction.
2. `labelColorScore` and `labelColorTD`: Colors for the score and trend direction labels.
### Base Indicators and Variables:
1. `spread`: Calculates the difference between the high and low of a candle.
2. `emaVolume`: Exponential moving average of volume over a 21-period range.
3. `rsi14`: Relative Strength Index (RSI) over a 14-period range.
4. `sma200` and `ema50`: Simple moving average over a 200-period range and exponential moving average over a 50-period range, respectively.
5. `volatility`: Calculates the 14-period Average True Range (ATR) to determine volatility.
6. `trendDirection`: Establishes the trend direction based on the SMA200.
### Risk Management:
1. `atrValue`: Calculates the value of the ATR.
2. `stopLoss` and `takeProfit`: Calculates the stop-loss and take-profit levels based on the ATR.
### MACD:
Computes the MACD line, signal line, and histogram.
### Volume Analysis:
1. `weightedVol`: Weighted volume.
2. `forceFactor`: Measures the strength of price movement in relation to volume.
### Support and Resistance:
1. `support` and `resistance`: Calculates support and resistance levels based on the most recent 50 periods.
### Liquidity Check:
1. `isLiquid`: Checks if an asset is sufficiently liquid.
### Score Calculation:
Evaluates various factors such as price position relative to support/resistance levels, RSI, MACD, strength of movement, and volatility to generate a score.
### Criteria for Final Signals:
1. `isBullSpread` and `isBearSpread`: Generates a bullish or bearish signal based on various factors, including the score, trend direction, and liquidity.
### Notifications:
Generates alert conditions for bullish and bearish signals.
### Graphical Elements:
Displays various indicators and signals on the chart, including stop-loss, take-profit, SMA200, EMA50, and support and resistance lines.
### Debugging Labels:
Shows labels on the chart for score and trend direction.
The goal is to provide a comprehensive picture of the current asset, taking into consideration various factors and generating potentially profitable trading signals.
################################################################### ITALIANO ########################################################################################
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Questo script è scritto in Pine Script e progettato per essere eseguito sulla piattaforma di trading TradingView. È un indicatore di analisi tecnica avanzata che utilizza diversi metodi e indicatori per generare segnali di trading basati su un approccio Volume Spread Analysis (VSA).
Ecco un riepilogo dettagliato delle funzionalità:
### Parametri personalizzabili:
1. `scoreLabel` e `TDLabel`: Etichette personalizzabili per i punteggi e la direzione del trend.
2. `labelColorScore` e `labelColorTD`: Colori delle etichette per punteggio e direzione del trend.
### Indicatori e variabili base:
1. `spread`: Calcola la differenza tra il massimo e il minimo di una candela.
2. `emaVolume`: Media mobile esponenziale del volume con un periodo di 21.
3. `rsi14`: RSI (Relative Strength Index) con un periodo di 14.
4. `sma200` e `ema50`: Media mobile semplice con un periodo di 200 e media mobile esponenziale con un periodo di 50, rispettivamente.
5. `volatility`: Calcola l'Average True Range (ATR) con un periodo di 14 per determinare la volatilità.
6. `trendDirection`: Stabilisce la direzione del trend basata sulla SMA200.
### Gestione del rischio:
1. `atrValue`: Calcola il valore dell'ATR.
2. `stopLoss` e `takeProfit`: Calcola i livelli di stop-loss e take-profit basati sull'ATR.
### MACD:
Calcola le linee MACD, segnale e l'istogramma.
### Analisi del volume:
1. `weightedVol`: Volume ponderato.
2. `forceFactor`: Misura la forza del movimento del prezzo in relazione al volume.
### Supporto e resistenza:
1. `support` e `resistance`: Calcola i livelli di supporto e resistenza basati sui 50 periodi più recenti.
### Verifica della liquidità:
1. `isLiquid`: Verifica se un asset è sufficientemente liquido.
### Calcolo del punteggio:
Valuta diversi fattori come la posizione del prezzo rispetto ai livelli di supporto/resistenza, RSI, MACD, forza del movimento e volatilità per generare un punteggio.
### Criteri per i segnali finali:
1. `isBullSpread` e `isBearSpread`: Genera un segnale rialzista o ribassista basato su vari fattori, incluso il punteggio, la direzione del trend e la liquidità.
### Notifiche:
Genera condizioni di allarme per segnali rialzisti e ribassisti.
### Elementi grafici:
Visualizza diversi indicatori e segnali sul grafico, inclusi stop-loss, take-profit, SMA200, EMA50, e linee di supporto e resistenza.
### Etichette di debug:
Mostra etichette sul grafico per il punteggio e la direzione del trend.
L'obiettivo è fornire un quadro completo dell'asset corrente, prendendo in considerazione diversi fattori e generando segnali di trading potenzialmente profittevoli.
Adjustable Bull Bear Candle Indicator (V1.2)Indicator Description: Adjustable Bull Bear Candle Indicator
This indicator, named "Adjustable Bull Bear Candle Indicator ," is designed to assist traders in identifying potential bullish and bearish signals within price charts. It combines candlestick pattern analysis, moving average crossovers, and RSI (Relative Strength Index) conditions to offer insights into potential trading opportunities.
Disclaimer:
Trading involves substantial risk and is not suitable for every investor. This indicator is a tool designed to aid in technical analysis, but it does not guarantee successful trades. Always exercise your own judgment and seek professional advice before making any trading decisions.
Key Features:
Preceding Candles Analysis:
The indicator examines the behavior of the previous 'n' candles to identify specific patterns that indicate bearish or bullish momentum.
Candlestick Pattern and Momentum:
It considers the relationship between the opening and closing prices of the current candle to determine if it's bullish or bearish. The indicator then assesses the absolute price difference and compares it to the cumulative absolute differences of preceding candles.
Moving Averages:
The indicator calculates two Simple Moving Averages (SMAs) – Close SMA and Far SMA – to help identify trends and crossovers in price movement.
Relative Strength Index (RSI):
RSI is used as an additional measure to gauge momentum. It analyzes the current price's magnitude of recent gains and losses and compares it to past data.
Time Constraint:
If enabled, the indicator operates within a specific time window defined by the user. This feature can help traders focus on specific market hours.
Customizable Alerts:
The indicator includes an alert system that can be enabled or disabled. You can also adjust the specific alert conditions to align with your trading strategy.
How to Use:
This indicator generates buy signals when specific conditions are met, including a bullish candlestick pattern, positive price difference, closing price above the SMAs, RSI above a threshold, preceding bearish candles, and optionally within a specified time window. Conversely, short signals are generated under conditions opposite to those of the buy signal.
Disclosure and Risk Warning:
Educational Tool: This indicator is meant for educational purposes and to aid traders in their technical analysis. It's not a trading strategy in itself.
Risk of Loss: Trading carries inherent risks, including the potential for substantial loss. Always manage risk and consider using proper risk management techniques.
Diversification: Do not rely solely on this indicator. A well-rounded trading approach includes fundamental analysis, risk management, and proper diversification.
Consultation: It's strongly advised to consult with a financial professional before making any trading decisions.
Conclusion:
The "Bullish Candle after Bearish Candles with Momentum Indicator" can be a valuable tool in your technical analysis toolkit. However, successful trading requires a deep understanding of market dynamics, risk management, and continual learning. Use this indicator in conjunction with other tools and strategies to enhance your trading decisions.
Remember that past performance is not indicative of future results. Always be cautious and informed when participating in the financial markets.
Super Cloud Support and Resistance Signal [5ema]This indicator can supply the trending and signal.
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How to calculate?
The cloud be create by the min/max of the EMA lines:
+ (avg(EMA(source, 20), EMA(source, 50), EMA(source, 200), EMA(source, 460), EMA(source, 610))
+ with source = high / low / open and close.
The signal bar is a reversal candle pattern such as engulfing, hammer, ....
For avoid to against the trend, use the number left bars are completely above or below the cloud.
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How to set up?
Input the number left bars to get the number left bars are completely above or below the cloud. Its purpose is avoid to get signal against the trend. Can set it bigger than 2.
Can filter the signal only buy or only sell to follow the current trend.
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How to use?
Refer the trend cloud:
Can refer the signal:
Make an alert when signal appear.
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Forecast by ScanYourStratOverview :
This indicator scans historical price data and focus on 3 main characteristics:
1. Momentum of the move
2. Volume changes
3. Proprietary candle scoring system (a scoring based on the candles open and close, wicks and color of the candle)
After it analyzes the above 3 characteristics, it will find the pattern most closely to each one and will make an average Forecast which is the result you see on the chart. They can be all 3 in the same area or across historical data. The length of the price range that you want to analyze is user dependent, based on the Bar calculation length (see below on settings), and then will take the price movements that followed each of the 3 characteristics and It will project it into the future to provide potential price actions as an average forecast. As we all know, certain patterns and sequences, do repeat in the market. From these patterns we can try to forecast what will be the response based on previous data. The closer the past values to the historical data, the more likely the price will continue to move according to the same rules.
How it works :
Once you have set the Bar calculation length and the Forecast length, it will find the closest pattern that fulfills all 3 characteristics as above (either together or separate). Meaning, if you want to look at the last 10 candle bars on the current timeframe, the algorithm will find the pattern that resembles closest in momentum, volume, and candles scores to bring the forecast based on the movement that happened after those 10 candles (average of all 3). For the length of the forecast, you can choose how far into the future you want to look for.
Calculations :
The indicator works by scanning historical price data for the 3 characteristics above, and then forecast based on previous patterns. It uses mainly Pearson correlation calculation, but also, we have included Spearmen and cosine similarity equations to calculate different ways depending on the style of the trader. Essentially, the indicator takes the historical price moves that followed the pattern to forecast what might happen next. It will be an average of all 3 characteristics.
Potential Pitfalls :
This comes with certain problems, choose a pattern to small and you will have too many variables, choose a pattern too long and could limit the results that may not be statistically significant. Each person is encouraged to test depending on the timeframe that you trade. As you change the number of candles and calculations, it will change the forecast path.
How to use :
Each new candle will give you a forecast that may be new or consistent with previous candles. You cannot rely solely on this indicator as no indicator is 100%. Best strategy to work, is to already have some type of zone for demand or supply, or expansion zones or liquidity zones and use this indicator in conjunction to it. This indicator has been tested mainly on the 1 hour but will work on any timeframe. Best settings so far are with Pearson calculation and a length of 12 bars. The forecast line should not be used as an exact replica but more as a trend whether going up or down. The targets although sometimes close, the trader is not encouraged to use the line targets as their entry or stops but more using the above zones to help for those. In addition, the trader can use the option to average the last few candles forecast to see if the movement is consistent as well.
Settings :
- Bar calculation length : will be the X number of candles that the script will look in historical data that resembles the most. (Example chose 3 candles or 10, or 20)
- Forecast length : how many X number of candles that the script will look forward (forecast).
- Average forecast color : you can change the color of the forecast line.
- Multi bar forecast : is a way to bring the previous forecast lines from past candles to see if there is a pattern without having to use the bar replay, the more you candles you choose, the more lines will be available but at the same time making it harder to see.
- Average all on end bar : if you want to average all the forecast lines into one. You can choose the amount of candles that you want to average based on the multi bar forecast.
Disclaimer :
This is still an indicator that is being tested and in no way should be used alone. Currently will be in closed beta to find bugs and to work on accuracy.
The information contained in this script does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts are only for educational purposes!
Breakout Sideway Range [5ema]This indicator can find the breakout of sideway range. The range create by the bars inside the highest bar.
Compared to my previous script name Breaking Bar , this one is different in important point:
The Highest bar can be found at higher timeframe.
No have opening candles of each session.
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How to calculate?
Find the bar have full body or full bar is highest on number left bars.
The sideway range are bars inside highest bar.
Find the bar breakout highest bar are reversal candle patterns.
The highest bar can set up on higher timeframe.
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How to set up?
Change the input value of left bar to find the highest bar.
Change the input value of right bar to find the inside bar of highest.
Select the time frame to find the highest bar. Set "chart" if want to follow chart.
Select the way find highest bar, by price high and low or open and close.
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How to use?
Choose the signal buy or sell or all.
Change the color or range if want.
Hidden, display, change color background of signal bar.
Make the alert when signal appear.
Refer the signal appear on chart:
- Signal Sell:
- Signal Buy:
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Baha'i Reversal Points [CC]The Baha'i Reversal Points is a custom creation that combines some of my favorite passions, creating stock indicator scripts and my faith. The Baha'i Faith believes in the oneness of God and all religions, and sees the number 9 as significant because that is the number of major world religions as well as the Baha'i symbol is a nine-pointed star. The number 19 is also seen as significant because in the Baha'i calendar, there are 19 months, and each month is made up of 19 days. Anyway, with all that being explained, I created these reversal points to find the points where the last 19 highs or lows are higher or lower, respectively than the previous high or low nine days ago. As with many indicators, this does have some hits and misses but does a pretty good job of finding reversal points based on these criteria.
There are a few different ways to analyze this data to determine when to buy or sell. I have set the default behavior for when we encounter the first time that the amount of highs or lows is greater than or equal to the length amount using a crossover or crossunder alert. You could also ignore the crossover or crossunder alerts and buy when the count is greater than or equal to the length, which can happen for extended periods depending on the underlying trend. Overall, buy when the buy label appears and sell when the sell label appears.
Let me know if there are any other custom indicators or scripts you would like to see me publish!
Realtime Divergence for Any Indicator - By John BartleThe main purpose of this script is to show historical and real-time divergences for any oscillating indicator. The secondary purpose is to give the user a lot of precise control over identifying divergences and determining what they are. This is an improved version of my other script which is similarly called "Realtime Divergence for Any Indicator"
There are four types of divergences that are offered:
Bull divergence
Hidden bull divergence
Bear divergence
Hidden Bear divergence
There are three types of potential(real-time) divergences which include:
1) Without right side bars for rightside pivots. Plus without waiting for the rightside pivot bar to complete
2) Without right side bars for rightside pivots. Plus with waiting for the rightside pivot bar to complete
3) With right side bars for rightside pivots. Plus without waiting for the rightside pivot right-most bar to complete
A definite divergence occurs when all specified bars are accounted for and fully formed.
Potential divergences use dashed lines and definite(historical) divergences use solid lines.
In addition to several other categories of settings to filter out unwanted divergences or manipulate the search process, this script also offers Alerts. Remember that alerts must not only be set within this scripts settings but also your "Alerts" panel on your right. It's strange but BOTH must be set for alerts to work...
Other interesting Things To Know:
1)I actually don't trade and so I have no need of a paid account. Unpaid accounts don't have the playback feature so I haven't really tested this script out very well. Sorry. Just let me know if something seems off and IF I have time I'll try to fix it.
2)Keep in mind that Pinescript limits the number of lines that can be shown at one time. This means that if your settings allow for a large number of divergence lines they will be removed from the leftward side of your chart but appear in the rightward side.
3) The time and the values for the price or oscillator are not the same things as each other nor are they physical things with physical space. This means that slopes of lines using the time as X and value as Y can not have definite angles. Consequently, under the setting "DIVERGENCES: SLOPE ANGLE EXCLUSION" YOU have to decide what slope equals what angle by using the setting called "Normalization Factor".
4) Remember that some individual settings apply to both the oscillator and price chart. This means that even if the setting's conditions are fulfilled in one they may not be fulfilled in the other.
5) Under the category "DIVERGENCES: INTERSECTION ALLOWANCE", if you set the "Measurement Type" to Relative Percentage then FYI any single given length will equate to an increasingly smaller percentage the further away from zero it is. Because of this, I think "Reletive Percentage" is probably only useful for price charts or oscillators with big values. Maybe >200 is OK ?
Errors:
1) If you get the error mentioning that the script must complete execution within X amount of time, this is because this is a big script and sometimes takes longer than your service plan's allotted time limit. You can just disable some of the settings to reduce the scripts amount of work and time. The biggest time savers will be to disable some lines and labels
2) If you get an error saying the script accessed a negative index(e.g. ) then try temporarily increasing the "Add More Array Elements" setting to 100-200. Sometimes it fixes the problem.
3) You may sometimes temporarily get an error that reads: "Pine cannot determine the referencing length of a series. Try using max_bars_back in the study or strategy function".
If this happens there are several things that you can do:
3A) Create a copy of my script. Then edit the section of code that looks like this ")//, max_bars_back = INSERT_YOUR_QUANTITY_HERE)" and transform it to look like this new code ", max_bars_back = INSERT_YOUR_QUANTITY_HERE)" then repeatedly try replacing "INSERT_YOUR_QUANTITY_HERE" with an increasingly larger number greater than 244 but less than 5000.
This method will increase your system resources and could cause other problems. Try changing the code back after a few hours and see if all is well again. It is a Pinescript limitation issue and happens when certain functions or variables don't get used at least once within the first 244 bars.
3B) Adjust your settings to hopefully find a divergence within the first 244 bars. If one is found then the problematic variables or functions should get used and the Pinescript 244 bar limitation should be temporarily resolved.
3C) Wait for X number of new bars to occur. If a divergence is eventually found within the first 244 bars that should solve the issue.
Tips:
1) If the amount that a setting changes value is undesirable for each time you click it then you can change that amount in the code. To do that, you'll need your own copy of my script. To make your own copy just click on "create a working copy" in the brown colored strip area above the code. Then within approximately the first 108 lines find the title of the setting you want to change. Then look to it's right to find the parameter called "step =". Change what the step equals to whatever you want. FYI, you can hover your mouse over the blue colored code and a popup will tell you what parameters(i.e. settings) that function(e.g. "input.int()") has available.
Daye @joshuuuThis indicator is based on Dayes studies about 90minute cycles and true opens.
Similar to how ICT teaches the true day open at 0.00, Daye came up with his true year, true month, true week and true session opens.
True Year - April 1st
True Month - 2nd Monday
True Week - Monday, 6pm
True Day - 12am (Midnight)
True Session - 1:30am (London), 7:30am (New York), 1:30pm (Afternoon)
Ideally, for a bearish scenario, we would like to see price trade above the opening price to then reverse and trade lower.
Ideally, for a bullish scenario, we would like to see price trade below the opening price to then reverse and trade higher.
The moves into the opposite direction are used my smart money to accumulate their positions and trap traders into wrong positions.
This indicator also shows 90 minutes cycles.
90min Cycle Cheat Sheet:
Q1. (A)ccumulation - Consolidation
Q2. (M)anipulation - Judas Swing (Trade this)
Q3. (D)istribution - LRLR (Trade this)
Q4. (X) - Continuation/Reversal of previous q.
Or
Q1. (X) - Continuation/Reversal of previous q.
Q2. (A)ccumulation - Consolidation
Q3. (M)anipulation - Judas Swing (Trade this)
Q4. (D)istribution - LRLR (Trade this)
This shows that if q1 consolidates and q2 takes out one side and reverses we anticipate q3 to have a strong move.
however, if q2 consolidates, we anticipate q3 to take out one side, reverse and then have a strong move in q4.
Engulfing Box & LinesThe "Engulfing Box & Lines" indicator aims to spot and highlight Engulfing candlestick patterns within a trend. These patterns can provide valuable indications of a possible trend reversal, and the indicator underlines them through the use of colored rectangles and horizontal lines. To fully understand the functioning and use of this indicator, let's explore its key elements and associated strategies.
Identification of Engulfing Patterns:
The indicator focuses on detecting two types of Engulfing candles:
Bullish Engulfing: Occurs when a bullish candle (open lower than close) completely encloses the body of the previous bearish candle. This could indicate a possible upside reversal.
Bearish Engulfing: Occurs when a bearish candle (opening higher than closing) entirely engulfs the body of the previous bullish candle. This could signal a potential bearish reversal.
Using the EMA 200:
The indicator uses the 200-period Exponential Moving Average (EMA) as a reference to determine the position of the candles with respect to the long-term trend. When the price is above the 200 EMA, the bullish Engulfing candles are highlighted with a green box, while below the 200 EMA, red boxes are shown for the bearish Engulfing candles.
Size of Boxes and Lines:
The colored boxes represent the size of the body of the candle that caused the Engulfing. Additionally, a horizontal line is drawn close to the body of the candle, serving as the fulcrum of the indicator.
Trading Strategies:
This indicator can be used for different trading strategies:
Trend Continuation: During a positive trend, the onset of an engulfing pattern suggests a possible continuation of the trend. The horizontal lines represent potential support areas, where the price could bounce. Traders might consider buying during such bounces.
Retracements and Entries: Lines can act as support or resistance zones, depending on the trend. When the price approaches a line, a retracement could occur. Traders might move to a lower timeframe to spot entry signals, using the line as a reference.
Closing Positions: Lines could also be used to define exit levels. For example, a trader might decide to exit a position when the price approaches a resistance line.
Confirmations with Other Indicators: The indicator could be used in conjunction with other technical tools, such as oscillators or candlestick analysis, to confirm signals and improve the accuracy of trading decisions.
RSI Bitmap
Function (English):
1. It displays 40 items’（tokens,stocks, futures etc.) RSI oversold and overbought data in the form of bitmap/dots on the chart.
2. The specifi item will be clear after placing mouse on the small dots.
3. The bitmap will show red when the RSI overbought, show green when the RSI oversold, and will show black when the RSI in the middle of the value.
RSI点阵图功能（中文）：
功能：
1、在图表上以点阵形式、直观的显示40支商品的RSI超卖超买数据
2、如果需要查看具体是什么商品，直接把鼠标放置在小点上就行
3、当RSI超买时点阵显示红色、当RSI超卖时点阵电视绿色、处于中间则显示黑色
Structure ModThis indicator was inspired by mentfx and allows to view structure as moving up and down blocks based on pullback rules:
bear pullback - price opens above previous high
bull pullback - price close below previous low
This indicator has the following settings which can be changed
Highlight 1st MB Up, colour first MB after changing direction up
Highlight 1st MB Down, colour first MB after changing direction down
Show MB breaks, show signals on a chart when new MB formed
Show higher timeframe MB, overlay higher timeframe MB to view fractal structure
Higher timeframe in minutes, allows to adjust higher timeframe overlay
Following alerts also ready to be set
1st MB Up
1st MB Down
DMB Up
DMB Down
MB Up
MB Down
Any MB
Reversal Candles UG [5ema]The indicator can be find 8 reversal candlestick patterns of bullish or bearish.
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How to build?
Based on available reversal patterns that was be share by a group trader.
With name: T1, T1S, T2, T2S, T3, T3S, T3 Pro, T3 Max.
Ex1 - T1 Bull Candles and T3 Bull Candles:
Ex2 - T2 Bull Candles:
Ex2 - T1S Bull Candles:
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How to use?
Combine with other indicators like MA, EMA, RSI, Support, Resistance,... to set up a trading strategy.
Make a Alert to get a notification when a reversal candles appear.
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
The Bull Trader's ZonesTBT Zones - Preferably used on the 4H chart. You should combine this script with other technical indicators as well.
In general the script helps find buy and sell opportunities early enough so as to make better decisions before taking a trade. Basically, it uses the rsi indicator, the long lower and long upper shadow candle sticks to create buy and sell zones.
The script is visibly engaging so one could easily know when the price is reverting into an Overbought or Sell zone after an uptrend, or reverting into an Oversold or Buy zone after an downtrend.
There is also the well known Bollinger Band Indicator, and it could be safer taking short trades when the price of the asset is above the Bollinger Basis, preferably close to the upper Bollinger Band. Vice-versa for long trades.
Adding the Camarilla L3 and H3 strategy could give an edge. Respecting the zones, if the open price is between H3 and L3;
BUY when the price moves back above L3 after going below L3. Target will be H1, H2, H3 levels. Stop loss can be placed at L4 level. Or trail an SL,
SELL when the price moves back below H3 after going above H3. Target will be L1,L2 L3 levels and stop loss above H4. Or trail an SL. Or simply take realistic profits.
By default the zones will extend left (back in history) which could give a view on how the zone previously performed. This option could be unchecked in the options. However, information on past performance is not necessarily a guide to future performance. Trade safe. Get out on time. Wait for another opportunity to set up.
When you add this indicator to your chart you can set up alerts to be informed when a new zone is formed.
Much thanks to @cyatophilum, the pinescript coder who made this a reality.
Marubozu PatternsMarubozu Candlestick Patterns Indicator
This TradingView script identifies two types of Marubozu candlestick patterns: the bearish Marubozu and the bullish Marubozu. Marubozu patterns are characterized by a lack of shadows and a long body, indicating strong market sentiment. The indicator displays labels and triggers alerts when these patterns are detected on the price chart.
Features:
Identifies bearish Marubozu and bullish Marubozu candlestick patterns.
Alerts triggered for both patterns.
Labels displayed to highlight pattern occurrences on the chart.
How it works:
The script calculates various properties of candlesticks, such as body length, shadows, and body type. It then identifies both bearish and bullish Marubozu patterns based on specific conditions. When a pattern is detected, a label is shown on the chart with a corresponding tooltip description. Additionally, a background color change emphasizes the presence of detected patterns. Alerts are triggered for both pattern types, helping traders to quickly spot potential trading opportunities.
Note:
This script is designed for use on the TradingView platform using Pine Script. It aids traders in recognizing Marubozu candlestick patterns, providing visual cues and alerts for potential bullish and bearish market sentiments.
Bitcoin CME Gap TrackerCME Bitcoin Futures Gaps: What Are They and Why Are They Important?
Gaps are breaks between price candles on charts, illustrating the intervals between the closing price of the previous period and the opening price of the next. For Bitcoin on CME, these gaps arise due to the particular workings of this market.
Bitcoin and other cryptocurrencies trade 24/7 without breaks. However, CME Bitcoin Futures, like many other financial instruments on traditional exchanges, have weekends and trading pauses. When the Bitcoin market continues to move during weekends or CME closures, and then CME opens on the subsequent trading day, a price disparity can occur, perceived as a gap.
Several studies suggest that in most cases (approximately 70% and more), the market reverts to "close" these gaps. This phenomenon is observed because large liquidity is concentrated at these gap points. There are many unfilled orders in gap zones, placed at specific prices. When the price reaches these levels, it can swiftly react to this "clustering" of orders, potentially leading to the gap's closure.
Therefore, CME Bitcoin Futures gaps not only reflect crucial psychological moments in the market but can also serve as potential entry or exit points, considering the high liquidity in these zones.
Technical Description:
The script is designed to identify gaps in the Bitcoin Futures chart on CME. It automatically detects gaps that appear on Mondays (since CME is closed on weekends) and are larger than the user-specified percentage.
Key Features:
Identification of the weekday to detect gaps that arose on Monday.
Calculation of positive and negative gaps by comparing the highs and lows of the previous candles with the current ones.
Graphical representation of the gaps using lines and labels on the chart.
User Guide:
Add this script to your TradingView chart.
You can adjust the "Show gaps larger than %" parameter to determine the minimum gap size of interest.
Gaps will be automatically displayed on your chart with lines and labels.
first fvg @joshuuuThis indicator was created to display and alert the user for the first Fair Value Gap (FVG) of up to three trading sessions.
Bullish FVG occurs when the high of the first candle is lower than the low of the third candle, resulting in a price gap between them.
Conversely, a Bearish FVG takes place when the low of the first candle is higher than the high of the third candle, leading to a gap between these prices.
ICT emphasizes on three crucial timeframes: 3-4 am NY, 10-11 am NY, and 2-3 pm NY, collectively referred to as the 'silver bullet' times. The very first FVG formed during these periods can significantly impact the remainder of that trading session.
Building upon these concepts, CasperSMC developed a strategy involving buying/selling the very first FVG and placing a stop order just above/below the candle responsible for creating the FVG.
The strategy aims for a consistent 2-to-1 Reward-to-Risk ratio (2RR).
This indicator serves to support the strategy by not only displaying those fvgs but also sending alerts, reducing the need for constant screen monitoring.
KeitoFX Dynamic Indicator Free vers.This script represents a versatile dynamic indicator called "KeitoFX Dynamic Indicator Free version." It is developed by the author "KeitoFX" and operates as a custom indicator overlaying on financial charts. The indicator utilizes a unique algorithm to dynamically identify bullish and bearish candlestick patterns with specific criteria.
Key Features:
- The indicator visually marks bullish and bearish candlestick patterns using triangle shapes, providing quick visual cues to traders.
- Bullish patterns are detected when the closing price is higher than the opening price and the high and low prices of the candlestick form a narrow range.
- Bearish patterns are identified when the closing price is lower than the opening price, and the high and low prices also form a narrow range.
The indicator incorporates flexible settings that users can customize to fit their trading preferences:
- Users can choose the table's placement, either at the "Top Right," "Middle Right," or "Bottom Right" of the chart.
- Customizable dimensions for the width and height of the table are available.
- Adjustable text size settings ranging from "Auto" to "Huge" are provided for the displayed text.
- A descriptive table containing trading rules and conditions is optionally displayed below the price chart.
Additional Information:
- The indicator's color scheme is harmonious, with shades of purple and neutral tones.
- The "Require FVG" setting influences the pattern detection's sensitivity.
- A dynamic standard deviation is calculated based on the selected displacement settings and historical candle ranges.
- A "FVG" condition enhances pattern accuracy.
- Bullish and bearish pattern detection includes overlapping with other predefined arrays to increase pattern significance.
Note:
This indicator is provided under the Mozilla Public License 2.0, as indicated by the source code comment at the beginning of the script. Users are encouraged to review and comply with the license terms when using this indicator in their trading activities.
