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Daily ProtractorDaily Protractor Indicator Overview The Daily Protractor is a visually intuitive tool designed for traders who want to analyze price action through angular measurements on a 5-minute chart. By overlaying a protractor on the chart, this indicator helps identify potential support, resistance, and trend directions based on angular relationships from the first 5-minute candle of each day. It’s particularly useful for intraday traders looking to incorporate geometric analysis into their strategies for spot or strike charts. Key Features Dynamic Protractor Overlay: Draws a protractor centered on the low of the first 5-minute candle of each day, with customizable radius in both bars (horizontal) and price units (vertical). Angular Measurements: Displays angles in 5-degree increments, covering a full 360° circle or a 105° to -105° (91° to 269°) half-circle, depending on user preference. Customizable Display: Adjust the number of days to display protractors (up to 5 days). Customize line colors for different angle ranges (0° to 180°, 180° to 360°, and 0° specifically). Modify line thickness, label size, and label colors for better visibility. Center Point Highlight: Marks the center of each protractor with a labeled point for easy reference. Efficient Design: Optimized with max_lines_count, max_labels_count, and max_bars_back to ensure smooth performance on TradingView. How It Works The indicator identifies the first 5-minute candle of each day and uses its low price as the center point for a protractor. It then draws lines at 5-degree intervals, radiating from the center, with each line representing an angle from 0° to 360°. Labels at the end of each line display the angle in degrees, with negative values shown for angles between 195° and 345° (e.g., 270° is displayed as -90°). The protractor’s radius can be adjusted in both time (bars) and price units, allowing traders to scale the tool to their chart’s characteristics. Usage Instructions Add to Chart: Apply the indicator to a 5-minute chart of your chosen instrument (e.g., spot or strike charts). Interpret the Protractor: Use the angular lines to identify potential price levels or trend directions. The 0° line (horizontal) can act as a reference for horizontal support/resistance. Angles between 0° and 180° (upper half) and 180° and 360° (lower half) are color-coded for quick identification. Customize Settings: Toggle the Show 105° to -105° option to display a half-circle (91° to 269°) instead of a full 360° protractor. Adjust the Radius in Bars and Radius in Price Units to scale the protractor to your chart. Set the Maximum Days to Display to control how many daily protractors are shown. Modify line thickness, colors, and label settings to suit your visual preferences. Customization Options Protractor Settings: Show 105° to -105° (91° to 269°): Toggle between a full circle or a half-circle protractor. Radius in Bars: Set the horizontal span of the protractor (default: 75 bars). Radius in Price Units: Set the vertical span in price units (default: 1000.0). Maximum Days to Display: Limit the number of protractors shown (default: 5 days). Line Settings: Line Thickness: Adjust the thickness of the protractor lines (1 or 2). Line Color (0° to 180°): Color for the upper half (default: light blue). Line Color (180° to 360°): Color for the lower half (default: light red). Line Color (0°): Color for the 0° line (default: black). Label Settings: Label Size: Choose between small, normal, or large labels. Label Color (0° to 180°): Color for labels in the upper half (default: red). Label Color (180° to 360°): Color for labels in the lower half (default: green). Notes The indicator was designed with the help of Grok3 for use on 5-minute charts only, as it relies on the first 5-minute candle of the day to set the protractor’s center. For best results, adjust the radius settings to match the volatility and price scale of your instrument. However, where the price is in single digits it is advised to switch off the labels or I would suggest not to use the same. The protractor can be used alongside other technical tools to confirm trends, reversals, or key price levels. Limitations: This cannot be used on instruments that trade for more than 75 candles with a timeframe of 5 minutes as the angles would not cover the entire trading window. I am working coming up with a script to address this limitation. Feedback I’d love to hear your thoughts! If you find the Daily Protractor helpful or have suggestions for improvements, please leave a comment or reach out. Happy trading!
Pine Script® indicator
by Boron555
[COG]Adaptive Volatility Bands# Adaptive Volatility Bands (AVB) Indicator Guide for Traders ## Special Acknowledgment 🙌 This script is inspired by and builds upon the foundational work of **DonovanWall**, a respected contributor to the trading community. His innovative approach to adaptive indicators has been instrumental in developing this advanced trading tool. ## What is the Adaptive Volatility Bands Indicator? The Adaptive Volatility Bands (AVB) is a sophisticated technical analysis tool designed to help traders understand market dynamics by creating dynamic, responsive price channels that adapt to changing market conditions. Unlike traditional static indicators, this script uses advanced mathematical techniques to create flexible bands that adjust to market volatility in real-time. ## Key Features and Inputs ### 1. Price and Filtering Options - **Price Source**: Determines the base price used for calculations (default is HLC3 - Average of High, Low, and Close) - **Filter Poles**: Controls the smoothness of the indicator (1-9 poles) - Lower values: More responsive, more noise - Higher values: Smoother, but slower to react ### 2. Volatility and Band Settings - **Sample Length**: Determines how many bars are used to calculate volatility (default 144) - **Volatility Multiplier**: Adjusts the width of the main bands (default 1.414) - **Outer Band Multiplier**: Controls the width of the outer bands (default 2.5) - **Inner Band Ratio**: Positions the inner bands between the center and outer bands (default 0.25) ### 3. Advanced Processing Options - **Lag Reduction Mode**: Helps reduce indicator delay - **Fast Response Mode**: Makes the indicator more responsive to recent price changes ### 4. Signal and Visualization Options - **Show Entry Signals**: Displays buy and sell signals - **Signal Display Style**: Choose between labels or shapes - **Range Filter**: Adds an additional filter for signal validation ## How the Indicator Works The Adaptive Volatility Bands create a dynamic price channel with three key components: 1. **Center Line**: Represents the core trend direction 2. **Inner Bands**: Closer to the center line 3. **Outer Bands**: Wider bands that show broader price potential ### Color Dynamics - The indicator uses a smart color gradient system - Colors change based on price position within the bands - Helps visualize bullish (green/blue) and bearish (red) market conditions ## Trading Strategies for Beginners ### Basic Entry Signals - **Buy Signal**: - Price touches the center line from below - Candle is bullish (closes higher than it opens) - Price is above the center line - Trend is upward - **Sell Signal**: - Price touches the center line from above - Candle is bearish (closes lower than it opens) - Price is below the center line - Trend is downward ### Risk Management Tips 1. Use the bands to identify: - Potential trend changes - Volatility levels - Support and resistance areas 2. Combine with other indicators for confirmation 3. Always use stop-loss orders 4. Adjust parameters to match your trading style and asset ## When to Use This Indicator Best suited for: - Trending markets - Swing trading - Identifying potential entry and exit points - Understanding market volatility ### Recommended Markets - Stocks - Forex - Cryptocurrencies - Futures ## Customization The script offers extensive customization: - Adjust smoothness - Change band multipliers - Modify color schemes - Enable/disable features like lag reduction ## Important Considerations for Beginners 🚨 **Disclaimer**: - No indicator guarantees profits - Always practice with a demo account first - Learn and understand the indicator before live trading - Market conditions change, so continually adapt your strategy ## Getting Started 1. Add the script to your TradingView chart 2. Experiment with different settings 3. Backtest on historical data 4. Start with small positions 5. Continuously learn and improve Happy Trading! 📈🔍
Pine Script® indicator
by CognitiveAlpha
1
Dow Theory Trend Strategy v3Title: Dow Theory Trend Strategy Description: This Pine Script implements a trading strategy based on classic Dow Theory principles for trend identification. It analyzes pivot highs and lows to determine uptrends (Higher Highs & Higher Lows) and downtrends (Lower Highs & Lower Lows), entering trades when the trend direction is confirmed to change. This version (v3) includes several key features and improvements: Core Dow Theory Logic: Identifies trends based on confirmed sequences of pivot points detected using ta.pivothigh() and ta.pivotlow(). Improved Trend Persistence: The script confirms an uptrend only on both a Higher High (HH) and Higher Low (HL), and a downtrend on both a Lower High (LH) and Lower Low (LL). Crucially, if neither condition is met, the script maintains the previous trend state (trendDirection ), leading to smoother trend following compared to logic that frequently resets to neutral. Manual Trend Override: A user input allows you to override the automatic Dow Theory trend detection. You can set the strategy to: Auto: Follow the calculated Dow Theory trend signals. Long Only: Only take long entry signals. Short Only: Only take short entry signals. Tick-Based Stop Loss & Take Profit: Optional Stop Loss (SL) and Take Profit (TP) levels can be enabled. These are set in Ticks from the entry price using strategy.exit(). Important: You must understand what a 'tick' (syminfo.mintick) represents for the specific instrument you are trading when setting the stopLossTicks and takeProfitTicks inputs (e.g., for EURUSD with mintick=0.00001, a 20 pip SL = 200 ticks). Clear Visualizations: Background color changes to reflect the detected Dow Theory trend (Blue for Up, Red for Down, Gray for Undetermined). Optional markers for confirmed pivot points. Optional labels indicating confirmed trend change signals (potential entry points). Code Structure Note: This version defines the options for the "Manual Trend Mode" input directly inline within the input.string() function to potentially improve compatibility for users who experienced issues with copy-pasting previous versions that used a separate array definition. How it Works: Pivots are identified using the pivotLookback period (note the inherent lag). The trend direction (trendDirection) is updated based on HH/HL or LH/LL confirmations, otherwise, it persists. Strategy enters long on changedToUp (if allowed by mode) and short on changedToDown (if allowed by mode). If enabled, strategy.exit places SL and TP orders based on the specified number of ticks immediately upon entry. Inputs: Calculation Settings: pivotLookback: Controls pivot detection sensitivity and lag. Display Settings: Show Pivot Points: Toggle pivot markers. Show Trend Change Signals: Toggle entry signal labels. Strategy Settings: Manual Trend Mode: Select "Auto", "Long Only", or "Short Only". Risk Management: Use Stop Loss: Enable/disable SL. Stop Loss (Ticks): Set SL distance in ticks. Use Take Profit: Enable/disable TP. Take Profit (Ticks): Set TP distance in ticks. How to Use: Add the script to your TradingView chart. Access the Settings panel for the script. Configure the pivotLookback appropriate for your timeframe and instrument. Choose your desired Manual Trend Mode. Enable and configure the Stop Loss (Ticks) and Take Profit (Ticks) carefully, based on the instrument's tick size and your risk management plan. Use the Strategy Tester tab to backtest performance on historical data. Disclaimer: This script is provided for educational and informational purposes only. Trading strategies based on Dow Theory involve inherent lag. Past performance is not indicative of future results. Financial markets involve risk, and you should not trade with capital you cannot afford to lose. Always conduct thorough backtesting and implement robust risk management practices before considering any live trading. This script does not constitute financial advice.
Pine Script® strategy
by Salaryman_G
VIX bottom/top with color scale [Ox_kali]📊 Introduction ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ The “VIX Bottom/Top with Color Scale” script is designed to provide an intuitive, color-coded visualization of the VIX (Volatility Index), helping traders interpret market sentiment and volatility extremes in real time. It segments the VIX into clear threshold zones, each associated with a specific market condition—ranging from fear to calm—using a dynamic color-coded system. This script offers significant value for the following reasons: Intuitive Risk Interpretation: Color-coded zones make it easy to interpret market sentiment at a glance. Dynamic Trend Detection: A 200-period SMA of the VIX is plotted and dynamically colored based on trend direction. Customization and Flexibility: All colors are editable in the parameters panel, grouped under “## Color parameters ##”. Visual Clarity: Key thresholds are marked with horizontal lines for quick reference. Practical Trading Tool: Helps identify high-risk and low-risk environments based on volatility levels. 🔍 Key Indicators ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ VIX (CBOE Volatility Index) : Measures market volatility and investor fear. SMA 200 : Long-term trendline of the VIX, with color-coded direction (green = uptrend, red = downtrend). Color-coded VIX Levels: 🔴 33+ → Something bad just happened 🟠 23–33 → Something bad is happening 🟡 17–23 → Something bad might happen 🟢 14–17 → Nothing bad is happening ✅ 12–14 → Nothing bad will ever happen 🔵 <12 → Something bad is going to happen 🧠 Originality and Purpose ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Unlike traditional VIX indicators that only plot a line, this script enhances interpretation through visual segmentation and dynamic trend tracking. It serves as a risk-awareness tool that transforms the VIX into a simple, emotional market map. This is the first version of the script, and future updates may include alerts, background fills, and more advanced features. ⚙️ How It Works ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ The script maps the current VIX value to a range and applies the corresponding color. It calculates a SMA 200 and colors it green or red depending on its slope. It displays horizontal dotted lines at key thresholds (12, 14, 17, 23, 33). All colors are configurable via input parameters under the group: "## Color parameters ##". 🧭 Indicator Visualization and Interpretation ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ The VIX line changes color based on market condition zones. The SMA line shows long-term direction with dynamic color. Horizontal threshold lines visually mark the transitions between volatility zones. Ideal for quickly identifying periods of fear, caution, or stability. 🛠️ Script Parameters ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Grouped under “## Color parameters ##”, the following elements are customizable: 🎨 VIX Zone Colors: 33+ → Red 23–33 → Orange 17–23 → Yellow 14–17 → Light Green 12–14 → Dark Green <12 → Blue 📈 SMA Colors: Uptrend → Green Downtrend → Red These settings allow users to match the script’s visuals to their preferred chart style or theme. ✅ Conclusion ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ The “VIX Bottom/Top with Color Scale” is a clean, powerful script designed to simplify how traders view volatility. By combining long-term trend data with real-time color-coded sentiment analysis, this script becomes a go-to reference for managing risk, timing trades, or simply staying in tune with market mood. 🧪 Notes ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ This is version 1 of the script. More features such as alert conditions, background fill, and dashboard elements may be added soon. Feedback is welcome! 💡 Color code concept inspired by the original VIX interpretation chart by @nsquaredvalue on Twitter. Big thanks for the visual clarity! 💡 ⚠️ Disclaimer ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ This script is a visual tool designed to assist in market analysis. It does not guarantee future performance and should be used in conjunction with proper risk management. Past performance is not indicative of future results.
Pine Script® indicator
by Ox_kali
DIR Pro (ʘ‿ʘ)ノMomentum System Detection: Uses ta.barssince() to count consecutive closes above/below EMA25 Threshold: Requires ≥7 consecutive bars (momentum_length) Output: Directional integer (-1/0/1) + duration count Intensity Metric pinescript Copy intensity = sum(last 3 bars' distance > historical reference) × 0.5 Comparison Window: Current vs momentum start period (3-bar rolling window) Scaling: 0.5 points per confirmation (max 1.5) Score Weighting Copy Total = (Base × 70%) + (Momentum × 20%) + (Intensity × 10%) Base (70%): Long-term EMA25 positioning (144-period exponential decay) Momentum (20%): Trend persistence confirmation Intensity (10%): Short-term acceleration strength Key Fixes Applied NaN Protection: Added ternary checks (peso_total != 0 ?) in all metric calculations Position Adjustment: Horizontal: bar_index + 12 (moved 3cm right) Vertical: high * 1.015 (moved 3cm up from price) Metric Visibility: Explicit inclusion of AvgD/Body in Section A Precision Formatting: #.0 format for 1-decimal consistency
Pine Script® indicator
by ravingant
Cyclical Momentum PivotsCYCLICAL MOMENTUM PIVOTS Overview Cyclical Momentum Pivots is a streamlined indicator blending Cyclic Smoothed RSI (cRSI) with dynamic momentum detection to pinpoint high-probability trading pivots across stocks, forex, crypto, and more. Built on an adaptive cycle engine, it tracks market rhythm, delivering clear signals for momentum shifts and cyclic reversals, with an optional Hurst-style pivot forecast projected ahead of time. Powered by Pine Script v6, it uses lazy evaluation for real-time efficiency and precision. How It Works Momentum Signals (Green/Red Triangles) Green Triangles (Below Bars): Trigger on volume spikes (default >2x 10-period SMA) with price surges (default ≥1.5%) or volume momentum (>20% over 5 bars). Red Triangles (Above Bars): Same conditions with price drops. Dynamic Tuning: Thresholds adjust via volatility (ATR, volume std dev) and cycle strength—stronger signals when cycles deviate far from a dynamic mean. cRSI Band Crossovers (Turquoise/Purple Diamonds) Turquoise Diamonds (Below Bars): cRSI crosses up through the low band—potential bullish pivot from oversold. Purple Diamonds (Above Bars): cRSI crosses down through the high band—bearish pivot from overbought. cRSI 25% Level Signals (Yellow Markers) Yellow X (Above Bars): cRSI drops below 25% under the high band with a price decline—early bearish momentum cue. Yellow O (Below Bars): cRSI rises above 25% over the low band with a price increase—early bullish momentum hint. Cycle Momentum Signals (Green/Red Circles) Green Circles (Below Bars): Cycle crosses above its dynamic mean—potential bullish acceleration. Red Circles (Above Bars): Cycle dips below the mean—potential bearish slowdown. Why Shorter Cycles Are Bearish, Longer Bullish: Shorter cycles (below mean) signal rapid swings—often bearish, reflecting seller-driven volatility. Longer cycles (above mean) indicate sustained trends—typically bullish, driven by buyer confidence. Dynamic Cycle Length & Pivot Forecast Calculation: Detects peaks/troughs over an adaptive window (scaled by smoothed cycle and sensitivity), averages distances, and smooths with an EMA (default 5). Clamped 10–40 bars. Dynamic mean adjusts to cycle length (default 2x multiplier). Display: White number (e.g., "18") on cycle changes—off by default, toggle on via settings. Optional gray label (e.g., "P+10") forecasts bars until the next pivot, based on Hurst cycle analysis—off by default, toggle on via settings. Hurst Pivot Forecast: Uses the average pivot period (full cycle, e.g., peak-to-peak or trough-to-trough) to predict the next pivot from the last cycle shift. Half-cycle (e.g., avgPivotPeriod / 2) marks potential midpoints, full cycle (default) targets the next major pivot, and 2x cycle (e.g., avgPivotPeriod * 2) forecasts longer-term turns—adjustable via sensitivity and multiplier settings for custom timing. Key Features Adaptive Cycle Engine: Peak/trough distances, smoothed with an EMA, scaled by sensitivity (default 1.0)—locks onto market rhythm. Cycle Strength: Signals amplify with deviation from a dynamic mean—tighter thresholds in long cycles, looser in short ones. Pivot Forecast: Optional Hurst-inspired prediction shows bars until the next pivot—enhances planning without clutter. User Controls: Tune smoothing period (default 5), window sensitivity (0.5–2.0), and mean multiplier (1.0–5.0) for your market. v6 Efficiency: Lazy evaluation optimizes conditions (e.g., momentumSignal and currentPriceChange > 0) for real-time precision. Usage Tips Timeframes: Scales from 5M to 1D—tweak settings for speed or stability. Assets: Universal—adjust thresholds for volatility (e.g., 2.5 for crypto, 1.5 for forex). Confirmation: Pair with support/resistance—e.g., green triangle + green circle = strong bullish pivot; red diamond + red circle = bearish pivot. Watch forecast (e.g., "P+5") for timing entries/exits. Backtesting: Test historically—cycle strength and forecast boost accuracy in trending vs. ranging markets. Settings Use Auto Dominant Cycle Length: Enable (default) for adaptive cycles; disable for fixed (default 20). Example: Enable for crypto’s wild swings; disable and set 30 for stable stocks—locks cycle to asset pace. Base Volume Threshold: Default 2.0—raise for stricter signals, lower for more. Example: 2.5 cuts noise in BTC/USD, 1.5 catches more in SPY—tunes signal frequency. Base Price Change % Threshold: Default 1.5%—adjust for asset volatility. Example: 2% for high-beta stocks, 1% for forex—matches price action scale. Volume Momentum Lookback: Default 5—shorten for sensitivity, lengthen for stability. Example: 3 for 5M scalping, 10 for 1D swings—sharpens momentum detection. Show Cycle Labels: Disable (default)—enable to see cycle length changes. Example: Enable on 1H for cycle tracking, disable on 5M for cleaner charts—reduces visual noise. Show Pivot Forecast: Disable (default)—enable for Hurst-style next-pivot countdown. Example: Enable on 4H for swing planning (e.g., "P+20"), disable on 15M for focus—adds timing insight. Cycle Smoothing EMA Period: Default 5—faster (3) for volatility, slower (10) for trends. Example: 3 smooths fast XRP cycles, 10 steadies SPX trends—reduces erratic signals. Window Sensitivity: Default 1.0—lower (0.5) for tighter detection, higher (1.5) for broader cycles. Example: 0.8 narrows for ETH’s chop, 1.2 widens for gold’s slow waves—tunes peak/trough precision. Mean Multiplier: Default 2.0—shorter (1.5) for responsiveness, longer (3.0) for broader context. Example: 1.5 tightens signals in 15M forex, 3.0 broadens for 1D indices—shifts momentum circle and forecast timing. Show cRSI Band Crossovers: Enable (default) for cRSI signals; disable for simplicity. Example: Enable for reversal plays, disable for momentum focus—cuts clutter. Why It Stands Out Cyclical Momentum Pivots’ auto-adaptive cycle—smoothed, strength-weighted, and dynamically averaged—tracks market shifts, delivering clear, actionable pivot signals with optional Hurst-style forecasting ahead of time. v6’s lazy evaluation ensures every trigger is computed efficiently, making it a go-to for traders seeking precision in momentum and reversals.
Pine Script® indicator
by albertmay
Big 7 NASDAQ – % + SMA Signal (com gradiente)📌 Indicator Description – "Big 7 NASDAQ – % + SMA Signal (with Gradient)" This indicator displays a dynamic table of the 7 major NASDAQ stocks, providing at-a-glance insights into: 📈 Daily % Change – Calculated from the daily open to the current price, with background color gradient to reflect strength: Green shades for gains Red shades for losses Gray for neutral movement 🟢 SMA Signal – Shows whether the current price is above ("Buy") or below ("Sell") a customizable Simple Moving Average (SMA). Background colors reinforce the signal direction. ✅ Key Features: Covers Apple, Microsoft, Amazon, Google, Meta, Tesla, Nvidia Includes percentage change with directional arrows Clean and minimal design for fast decision-making Fully customizable SMA period Optional addition of Nasdaq Index (NQ1!) Perfect for traders who want a quick market heatmap with actionable SMA-based signals.
Pine Script® indicator
by EduWarlock
sideways market for strangle📌 Description of "Sideways Market for Strangle" Script** This **Pine Script** is designed to identify a **sideways market**, which is ideal for **option strangle strategies**. The script plots a **green signal** below the price chart when the market is in a low-volatility, non-trending phase. --- 🔹 How It Works** 1️⃣ **RSI Condition (Measures Market Momentum)** - The script uses a **Relative Strength Index (RSI) with a length of 11**. - If **RSI is between 40 and 60**, the market is neither overbought nor oversold, indicating a range-bound or sideways trend. 2️⃣ **ADX Condition (Checks Trend Strength)** - The **Average Directional Index (ADX)** is used to measure trend strength. - If **ADX is below 25**, it confirms a weak trend. - Additionally, ADX must be **lower than both DI+ and DI-**, ensuring that there’s no strong bullish or bearish momentum. 3️⃣ **Signal Plotting** - When both conditions are met (RSI between 40-60 and ADX < 25 with ADX < DI+ & DI-), a **green shape appears below the price chart**. - This signal suggests that the market is in a **sideways phase**, making it suitable for **strangle or non-directional option strategies**. --- 🔹 Why Use This for a Strangle Strategy?** - **Strangles perform best in a sideways market** where implied volatility is low. - This indicator helps traders avoid **trending markets**, reducing risk. - **Simple visualization** makes it easy to identify low-movement zones at a glance. --- 🔹 How to Use in TradingView** 1. **Add this script** as a custom indicator. 2. **Look for green signals** appearing below candles. 3. When the signal appears, consider setting up a **strangle options strategy**. 4. Avoid trading when the market shows **strong trends** (RSI out of range or ADX above 25). --- 🚀 Summary** ✅ **Detects sideways markets for strangle strategies** ✅ **Uses RSI (11) & ADX (14) for confirmation** ✅ **Filters out trending conditions** ✅ **Easy-to-use signal for option traders**
Pine Script® indicator
by jaydipali622018
Dow Theory Trend StrategyDow Theory Trend Strategy (Pine Script) Overview This Pine Script implements a trading strategy based on the core principles of Dow Theory. It visually identifies trends (uptrend, downtrend) by analyzing pivot highs and lows and executes trades when the trend direction changes. This script is an improved version that features refined trend determination logic and strategy implementation. Core Concept: Dow Theory The script uses a fundamental Dow Theory concept for trend identification: Uptrend: Characterized by a series of Higher Highs (HH) and Higher Lows (HL). Downtrend: Characterized by a series of Lower Highs (LH) and Lower Lows (LL). How it Works Pivot Point Detection: It uses the built-in ta.pivothigh() and ta.pivotlow() functions to identify significant swing points (potential highs and lows) in the price action. The pivotLookback input determines the number of bars to the left and right required to confirm a pivot. Note that this introduces a natural lag (equal to pivotLookback bars) before a pivot is confirmed. Improved Trend Determination: The script stores the last two confirmed pivot highs and the last two confirmed pivot lows. An Uptrend (trendDirection = 1) is confirmed only when the latest pivot high is higher than the previous one (HH) AND the latest pivot low is higher than the previous one (HL). A Downtrend (trendDirection = -1) is confirmed only when the latest pivot high is lower than the previous one (LH) AND the latest pivot low is lower than the previous one (LL). Key Improvement: If neither a clear uptrend nor a clear downtrend is confirmed based on the latest pivots, the script maintains the previous trend state (trendDirection := trendDirection ). This differs from simpler implementations that might switch to a neutral/range state (e.g., trendDirection = 0) more frequently. This approach aims for smoother trend following, acknowledging that trends often persist through periods without immediate new HH/HL or LH/LL confirmations. Trend Change Detection: The script monitors changes in the trendDirection variable. changedToUp becomes true when the trend shifts to an Uptrend (from Downtrend or initial state). changedToDown becomes true when the trend shifts to a Downtrend (from Uptrend or initial state). Visualizations Background Color: The chart background is colored to reflect the currently identified trend: Blue: Uptrend (trendDirection == 1) Red: Downtrend (trendDirection == -1) Gray: Initial state or undetermined (trendDirection == 0) Pivot Points (Optional): Small triangles (shape.triangledown/shape.triangleup) can be displayed above pivot highs and below pivot lows if showPivotPoints is enabled. Trend Change Signals (Optional): Labels ("▲ UP" / "▼ DOWN") can be displayed when a trend change is confirmed (changedToUp / changedToDown) if showTrendChange is enabled. These visually mark the potential entry points for the strategy. Strategy Logic Entry Conditions: Enters a long position (strategy.long) using strategy.entry("L", ...) when changedToUp becomes true. Enters a short position (strategy.short) using strategy.entry("S", ...) when changedToDown becomes true. Position Management: The script uses strategy.entry(), which automatically handles position reversal. If the strategy is long and a short signal occurs, strategy.entry() will close the long position and open a new short one (and vice-versa). Inputs pivotLookback: The number of bars on each side to confirm a pivot high/low. Higher values mean pivots are confirmed later but may be more significant. showPivotPoints: Toggle visibility of pivot point markers. showTrendChange: Toggle visibility of the trend change labels ("▲ UP" / "▼ DOWN"). Key Improvements from Original Smoother Trend Logic: The trend state persists unless a confirmed reversal pattern (opposite HH/HL or LH/LL) occurs, reducing potential whipsaws in choppy markets compared to logic that frequently resets to neutral. Strategy Implementation: Converted from a pure indicator to a strategy capable of executing backtests and potentially live trades based on the Dow Theory trend changes. Disclaimer Dow Theory signals are inherently lagging due to the nature of pivot confirmation. The effectiveness of the strategy depends heavily on the market conditions and the chosen pivotLookback setting. This script serves as a basic template. Always perform thorough backtesting and implement proper risk management (e.g., stop-loss, take-profit, position sizing) before considering any live trading.
Pine Script® strategy
by Salaryman_G
Big 7 NASDAQ📊 Big 7 NASDAQ % Change Heatmap with Trend Arrows This indicator displays a real-time performance table for the "Big 7" NASDAQ stocks: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Google (GOOGL), Meta (META), Tesla (TSLA), and Nvidia (NVDA). 🔎 Features: Live Daily % Change: Calculates the percentage change between today’s open and the current price. Color Gradient: Background color intensity reflects the strength of the move (from mild to strong bullish/bearish). Trend Arrows: Visual arrows 🔺 (up) and 🔻 (down) represent the direction of movement. Position Mode Selector: "Buy" – highlights with green tones "Sell" – highlights with red tones "Neutral" – uses dynamic coloring based on individual stock moves 📍 Placement: The table is positioned in the top-right corner of the chart for easy reference without cluttering your main view.
Pine Script® indicator
by EduWarlock
HOSSA High-Low LevelsHOSSA High-Low Levels – How It Works and How to Use It The HOSSA High-Low Levels indicator gives you three different ways to plot key price levels on your chart, all based on a higher timeframe candle you select. It can help you spot important support and resistance zones, potential expansion levels, or key reference points (high, low, open, close) to aid in your technical analysis. 1. Modes of Operation Resistance In this mode, the indicator measures the range between the previous candle’s high and low (on your chosen higher timeframe). It then projects multiple lines above and below that range (both “positive” and “negative” expansions). This allows you to visualize potential resistance/support areas at intervals like +25%, +50%, +100%, -25%, -50%, etc., relative to that candle’s range. Fibonacci This mode also takes the candle’s high and low, then applies Fibonacci retracement and extension levels (including negative extensions). You’ll see levels such as 0.236, 0.382, 0.5, 0.618, 1.272, 1.618, and more plotted on your chart. These can be useful for identifying potential reversal or continuation zones based on Fibonacci theory. High-Low-Open-Close In this simpler mode, the script plots just four lines at the higher timeframe candle’s high, low, open, and close. This gives you clean reference levels for intraday trading or any lower timeframe analysis. 2. Selecting Your Higher Timeframe Higher Timeframe Input: The script uses the high, low, open, and close of the candle from the timeframe you choose (default is 240 minutes, i.e., 4 hours). These reference points form the basis of how the indicator calculates its lines in each mode. 3. How to Use It in Your Analysis Detect Potential Support/Resistance In Resistance or Fibonacci mode, look for price reactions around these plotted lines. If price stalls or reverses, those levels may act as support or resistance. Identify Trade Targets and Stop Areas Projected lines (especially in Resistance or Fibonacci mode) can serve as logical areas for placing stop-loss or take-profit orders. Combine with Price Action If using High-Low-Open-Close, you might watch for breakouts or bounces near the higher timeframe candle’s open/close. Combining these key levels with candlestick patterns or volume can enhance your conviction for entries or exits. Multi-Timeframe Context While your main chart might be on a shorter timeframe (e.g., 15 minutes), the lines from a higher timeframe candle (e.g., 4 hours) add valuable “bigger picture” context to refine your trades. 4. Tips for Best Practice Experiment with Different Timeframes: If the 4-hour candle levels aren’t aligning well with your style, consider daily or weekly candles to see broader market structure. Color Coding: The script automatically colors lines based on their significance in each mode (e.g., highs in one color, lows in another). This makes it easier to quickly identify critical price references. Alert Combinations: Although this script doesn’t directly create alerts, you can combine it with TradingView’s alert system (e.g., “Crossing” a plotted level) to get notified if price tests a key zone. By using HOSSA High-Low Levels, you’ll have a flexible tool to easily project important price lines on your chart – whether those lines are expansions of a range, Fibonacci retracements and extensions, or simply the previous candle’s high, low, open, and close. This can help you trade more confidently by giving you clear, higher timeframe reference points. Request to Share My Work Dear Users, I kindly ask for your support in sharing my work with your friends and networks. Every like, share, or recommendation is extremely valuable to me and helps reach a wider audience. I would be immensely grateful for any form of support and engagement! Thanks to your help, I can continue developing this project and bring more ideas to life. With sincere appreciation,
Pine Script® indicator
by Hossa_Nostra
TICK Bias Timer with EMA Position📌 Description This indicator tracks the time in minutes that the Exponential Moving Average (EMA) of the NYSE USI:TICK remains above or below the zero line. It serves as a powerful market breadth confirmation tool to support your intraday directional bias. Rather than focusing on momentary TICK spikes, this tool emphasizes duration and persistence of buying/selling pressure across the entire NYSE – helping traders stay on the right side of the flow. 🔧 Features ✅ Measures how long the EMA of TICK stays above or below 0 ✅ Visual plots of upward and downward pressure duration (in minutes) ✅ Background color changes based on EMA position relative to 0 ✅ Automatic daily reset at a customizable time (e.g. 15:30 for RTH open) ✅ Gap filter to avoid spikes during overnight or weekend sessions ✅ Clean, minimalist design – built for real-time decision making 🎯 How to Use EMA > 0 for 10+ minutes → sustained bullish breadth → intraday bullish bias EMA < 0 for 10+ minutes → sustained bearish breadth → intraday bearish bias Frequent flip between sides → uncertain or choppy market → trade with caution Can be used in confluence with Volume Profile, VWAP, price action, and Bookmap to reinforce trade setups. 💡 Ideal For: Scalpers looking for flow confirmation Day traders who want to filter fake strength/weakness Professionals using TICK, USI:ADD , USI:VOLD , and other internals for decision-making
Pine Script® indicator
by khalilmassabih10
NHPF (Normalized Hodrick-Prescott Filter)This indicator applies a normalized Hodrick–Prescott filter (NHPF) to Bitcoin’s price data. It separates the underlying trend from short-term cyclical fluctuations by recursively smoothing the price using a user-defined lambda (HP Filter Period). The raw trend is then normalized by calculating a ratio between the trend and the current price, which is scaled and shifted according to subjective parameters (Mean and Scale). The result is a dimensionless value that highlights deviations from the long-term trend—serving as a signal for potential overbought (positive values) or oversold (negative values) market conditions. A zero line provides a clear reference, allowing traders to visually gauge when Bitcoin’s price is significantly above or below its expected trajectory. Feel free to adjust the inputs to best match your analysis preferences.
Pine Script® indicator
by dealerof
CCI with Subjective NormalizationCCI (Commodity Channel Index) with Subjective Normalization This indicator computes the classic CCI over a user-defined length, then applies a subjective mean and scale to transform the raw CCI into a pseudo Z‑score range. By adjusting the “Subjective Mean” and “Subjective Scale” inputs, you can shift and rescale the oscillator to highlight significant tops and bottoms more clearly in historical data. 1. CCI Calculation: - Uses the standard formula \(\text{CCI} = \frac{\text{price} - \text{SMA(price, length)}}{0.015 \times \text{mean deviation}}\) over a user-specified length (default 500 bars). 2. Subjective Normalization: - After CCI is calculated, it is divided by “Subjective Scale” and offset by “Subjective Mean.” - This step effectively re-centers and re-scales the oscillator, helping you align major lows or highs at values like –2 or +2 (or any desired range). 3. Usage Tips: - CCI Length controls how far back the script measures average price and deviation. Larger values emphasize multi-year cycles. - Subjective Mean and Scale let you align the oscillator’s historical lows and highs with numeric levels you prefer (e.g., near ±2). - Adjust these parameters to fit your particular market analysis or to match known cycle tops/bottoms. 4. Plot & Zero Line: - The indicator plots the normalized CCI in yellow, along with a zero line for quick reference. - Positive values suggest price is above its long-term mean, while negative values suggest it’s below. This approach offers a straightforward momentum oscillator (CCI) combined with a customizable normalization, making it easier to spot historically significant overbought/oversold conditions without writing complex code yourself.
Pine Script® indicator
by dealerof
US500 Institutional Bias - MultiTF Pro EditionUS500 Institutional Bias – Multi-Timeframe Pro Edition This custom-built TradingView indicator is designed to replicate an institutional-level bias model using multi-timeframe analysis, trend structure, and volume-based smart money signals. It combines over 20 high-value components into a single, weighted directional score — helping traders determine whether the environment favors long, short, or neutral positioning. ✅ Key Features & What It Does: 📈 Multi-Timeframe Trend Following Analyzes EMA structures (fast > mid > slow) on: M1 (intrabar) M5 M15 H1 1D Each timeframe contributes to the final bias based on its weight. Higher timeframes like H1 and D1 have stronger influence on the overall direction. 🧠 Bias Score Calculation The script calculates a composite Bias Score by summing weighted signals from: Moving Averages (Trend) MACD Histogram (Momentum) RSI & Stochastic (Mean Reversion) MFI, OBV, ADL, CMF (Volume Flow) TSI & ROC (True Strength) VWAP relationship Bollinger Band squeeze detection Donchian Channel positioning RSI divergence detection Relative Vigor Index & Volatility Index Seasonality (month-based behavior) 🔺 Smart Money & Liquidity Zones Highlights potential Order Blocks Detects Volume Spikes and Support/Resistance pivots 📊 Visual Outputs Color-coded chart background based on bias intensity Triangle signals for Strong Long or Strong Short zones Divergence dots when price and RSI disagree (early reversal alerts) Optional Bias Panel to show total score and market state 🧭 Use Case This tool is ideal for: Intraday scalpers and swing traders Confirming trend alignment across timeframes Avoiding trades during neutral or conflicting structure Combining technical and sentiment-based signals
Pine Script® indicator
by Feni_h
DOPT--- ## 🔍 **DOPT - Daily Open & Price Time Markers** This script is designed to support directional bias development and price behavior analysis around key time-based reference points on the **1H and 4H timeframes**. ### ✨ **What It Does** - **1800 Open Marker** (6 PM NY time): Plots the **daily open** from 1800 in **black dotted lines**. - **0000 Open Marker** (Midnight NY time): Plots the **midnight open** in **blue dotted lines**. - **Day Letters**: Each 1800 open is labeled with the corresponding **day of the week** (e.g., M, T, W...), helping visually segment your chart. - **Hour Labels**: Select specific candles (e.g., 0000 = '0', 0800 = '8') to be labeled above the bar. These are fully customizable. - **Candle Midpoints**: Option to mark the **50% level** of a specific candle (good for CE or CRT references). - **CRT High/Low Tracking**: Ability to plot **extended high and low lines** from a selected candle back (e.g., for CRT modeling). - **4H Timeframe Candle Numbering**: Helpful when analyzing sequences on the 4-hour timeframe. Candles are numbered `1`, `5`, and `9` for reference. --- ### 🧠 **How I Use It** - I mostly use this on the **1-hour timeframe** to decide **directional bias** for the day: - If price **closes above 1800 open**, I consider that a **green daily close** — potential bullish sentiment. - If price **closes below**, I treat it as a **red daily close** — potential bearish behavior. - Price often uses these opens as **support/resistance**, so I watch for reactions there. - On the **4H**, the candle numbers help track structure and flow. - Combine with CRT tools to mark **key candle highs/lows** and their **equilibrium (50%)** — great for refining entries or understanding how price is respecting a particular candle. --- ### ⚠️ **Note on Daylight Savings** This is a **daylight saving time-dependent script**. When DST kicks in or out, you’ll need to **adjust the time inputs** accordingly to keep the opens accurate (e.g., 1800 might shift to 1700 depending on the season). --- ### 🔁 **Backtesting & Reference** - The **1800 and 0000 opens** are plotted for **as far back** as your chart loads, making it great for backtesting historical reactions. - The CRT marking tools only go back **50 candles max**, so use that for recent structure only. ---
Pine Script® indicator
by OmegaValorSage