QQE Weighted Oscillator [LuxAlgo]The QQE (Quantitative Qualitative Estimation) Weighted Oscillator improves on its original version by weighting the RSI based on the indications given by the trailing stop, requiring more effort in order for a cross with the trailing stop to occur.
🔶 USAGE
The QQE Weighted Oscillator is comprised of a smoothed RSI oscillator and a trailing stop derived from this same RSI. The oscillator can be used to indicate whether the market is overbought/oversold as well as an early indication of trend reversals thanks to the leading nature of the RSI.
Using higher Factor values will return a longer-term trailing stop.
Like with a regular RSI divergence can be indicative of a reversal.
Further weighting will control how much "effort" is required for the trailing stop to cross the RSI. For example. For example, an RSI above the trailing stop will require a higher degree of negative price variations in order for a potential cross to occur when using higher weights.
This can cause higher weightings to return more cyclical and smoother results.
🔶 SETTINGS
Length: Length of the RSI oscillator.
Factor: Multiplicative factor used for the trailing stop calculation.
Smooth: Degree of smoothness of the RSI oscillator.
Weight: Degree of weighting used for the RSI calculation.
Divergence
Bullish Divergence Short-term Long Trade FinderThis script is a Bullish divergence trade finder built to find small periods where Bitcoin will likely rise from. It looks for bullish divergence followed by a higher low as long as the hour RSI value is below the 40 mark, if then it will enter an long. It marks out Buy signals on the RSI if the value dips below 'RSI Bull Condition Minimum' (Default 40) on the current time frame in view. It also marks out Sell signals found when the RSI is above the 'RSI Bearish Condition Minimum' (Default 50). The sell signals are bearish divergence that has occurred recently on the RSI. When a long is in play it will sell if it finds bearish divergence or the time frame in view reaches RSI value higher than the 'RSI Sell Value'(Default 75). You can set your stop loss value with the 'Stop loss Percentage' (default 5).
Available inputs:
RSI Period: relative strength measurement length(Typically 14)
RSI Oversold Level: the bottom bar of the RSI (Typically 30)
RSI Overbought Level: the top bar of the RSI (Typically 70)
RSI Bearish Condition Minimum: The minimum value the script will use to look for a pivot high that starts the Bearish condition to Sell (Default 50)
RSI Bearish Condition Sell Min: the minimum value the script will accept a bearish condition (Default 60)
RSI Bull Condition Minimum: the minimum value it will consider a pivot low value in the RSI to find a divergence buy (Default 40)
Look Back this many candles: the amount of candles thee script will look back to find a low value in the RSI (Default 25)
RSI Sell Value: The RSI value of the exit condition for a long when value is reached (Default 75)
Stop loss Percentage: Percentage value for amount to lose (Default 5)
The formula to enter a long is stated below:
If price finds a lower low and there is a higher low found following a lower low and price has just made another dip and price closes lower than the last divergence and Relative strength index hour value is less than 40 enter a long.
The formula to exit a long is stated below:
If the value drops below the stop loss percentage OR (the RSI value is greater than the value of the parameter 'RSI Sell Value' or bearish divergence is found greater than the parameter 'RSI Bearish Condition Minimum' )
This script was built from much strategy testing on BTC but works with alts (occasionally) also. It is most successful to my knowledge using the 15 min and 7 min time frames with default values. Hope it helps! Follow for further possible updates to this script or other entry or exit strategies.
snapshot:
I only have a Pro trading view account so I cannot share a larger data set about this script because the buy signals happen pretty rarely. The most amount that I could find within a view for me was 40 trades within a viewable time. The suggested/default parameters that I have do not occur very often so it limits the data set. Adjustments can be made to the parameters so that trades can be entered more often. The scripts success is dependent on the values of the parameters set by the user. This script was written to be used for BTC/USD or BTC/USDT trading. I am unable to share a larger dataset without putting out results that are intended to fail or having a premium account so reaching the 100 trade minimum is not possible with my account.
Extreme Entry with Mean Reversion and Trend FilterThis non-repainting indicator is an improved version of my previous work, a more versatile tool designed to provide traders with dynamic and adaptive entry signals while incorporating a mean reversion and trend filtering mechanism. By combining RSI overbought/oversold, regular divergence and confirmatory momentum oscillator such as CCI or MOM, this indicator generates more precise and timely signals for entering trades.
The indicator offers a comprehensive set of entry conditions for both Buy and Sell entries:
• For Buy entries, it checks for oversold conditions based on RSI levels, and detects bullish divergence patterns while oversold and it identifies upward crossovers in the selected entry signal source (CCI or Momentum).
• Similarly, for Sell entries, it identifies downward crossovers of the CCI or Mom, after the recent overbought conditions, and bearish divergence patterns inside the overbought RSI.
To refine the entry signals even further, the indicator utilizes a mean reversion filter. Traders can choose to display signals that occur inside or outside the upper and lower mean reversion bands:
• Range Entries are indicating potential buying opportunities near the lower band and selling opportunities near the upper band. This is based on the concept of mean reversion, which suggests that prices tend to return to the average when they reach the upper or lower bands. By focusing on these signals, traders can take advantage of price movements that have a higher probability of reversing towards the mean.
• Extreme Entries, on the other hand, represent signals that occur outside of the bands, signaling potential pullbacks during strong trends. By entering positions only at extreme highs or lows, traders can avoid getting caught in the middle of the trend. This approach helps traders capitalize more favorable trading opportunities which have a high reward-risk ratio.
Trend Filter acts as a directional bias for the entry signals. When enabled, long and short entry conditions are filtered based on the relationship between the closing price and the EMA.
Traders have the flexibility to customize, tweak the indicator filter and values in the settings according to their preferences strategies and traded assets, tailoring the signals to their specific needs. The script sets alert conditions to trigger alerts for buy, sell, or both entry signals. This indicator can be used in conjunction with price action or other technical analysis tools for confirmation and better trading decisions.
I created this indicator for my own use, and I share this for informational purposes only. It does not constitute financial advice so use at your own risk and consider your financial situation before making any trading decisions. The indicator's accuracy is not guaranteed, and past performance is not indicative of future results.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
Gradient Money Flow Divergence DetectorThe "Gradient Money Flow Divergence Detector" indicator has several use cases for traders. Let's explore the main use cases:
1. Money Flow Analysis : The primary purpose of this indicator is to analyze money flow in a particular asset. The Money Flow Index (MFI) is a momentum indicator that uses price and volume data to assess the buying and selling pressure in a market. Traders can use the MFI to identify overbought and oversold conditions, potential trend reversals, and divergences between the MFI and price movement.
2. Divergence Detection : The indicator incorporates a divergence detection mechanism for multiple timeframes (micro, sub-mid, mid, and macro). Divergence occurs when the price movement and an indicator (MFI in this case) move in opposite directions, signaling a potential shift in the price trend. Traders can use divergences to anticipate trend reversals or trend continuation.
3. Multiple Lookback Analysis : The indicator allows traders to assess divergences and money flow trends across various time horizons by providing divergence detection for different lengths. This can help traders identify confluence areas where divergences align on multiple timeframes, strengthening the potential signal.
4. Overbought and Oversold Conditions : The indicator plots horizontal lines at MFI levels of 20, 50, and 80. These levels can be used to identify overbought (MFI above 80) and oversold (MFI below 20) conditions. Traders may look for potential reversal signals when the MFI reaches extreme levels.
5. Confirmation of Price Trends : The indicator's color gradient visually represents the MFI value, which can help traders confirm the strength of a prevailing price trend. For example, an uptrend with a consistently high MFI might suggest strong buying pressure, reinforcing the bullish bias.
6. Fine-Tuning Divergence Signals : Traders can adjust the parameters of divergence detection (e.g., pivot points, rangeUpper, rangeLower) to fine-tune the sensitivity of the divergence signals. This allows for greater customization based on individual trading preferences.
7. Combining with Other Indicators : The indicator can be used in combination with other technical indicators or price action analysis to strengthen trading decisions. For example, traders may look for divergences in conjunction with support and resistance levels or chart patterns to increase the probability of successful trades.
8. Trend Reversal Confirmation : When a divergence is detected, it may indicate a potential trend reversal. Traders can use other confirmation signals (e.g., candlestick patterns, trendline breaks) to validate the reversal before making trading decisions.
Remember that no single indicator should be used in isolation, and it's essential to use the indicator in combination with other confirmations such as support and resistance, and analysis methods for more robust trading strategies. Additionally, thorough backtesting and practice in a demo environment are recommended before using the indicator in live trading.
Edri Extreme Points Buy & SellEDRI EXTREME POINTS BUY & SELL INDICATOR
This Buy and Sell (non-repainting) indicator uses signals based on the combined CCI/Momentum and RSI indicators and optional regular divergence.
The idea of the indicator is to look for a potential reversal after the price reached extreme points (overbought or oversold) and signals an entry when the price shows signs of momentum for reversal.
Optionally, it considers finding a divergence while RSI is at the extreme levels to improve the predictability of a possible reversal.
Additionally, the indicator includes a simple Mean Reversion visual on the chart to assist users in identifying extreme price levels and potential reversal opportunities. It features upper and lower bands that can be optionally plotted, showing calculated values where price bounces at those extreme levels.
The purpose of these bands is to help traders avoid getting trapped in the middle of a trend and to guide them to buy low and sell high. (It's important to note that this is purely a visual aid and does not impact the generation of trade signals.)
By utilizing the Mean Reversion bands alongside the entry conditions, traders can gain insights into potential price reversals and make more informed decisions about when to enter or exit trades.
Buy and Sell Entry conditions:
• The indicator looks at the CCI/Momentum indicator to turn positive (if buy) or negative (if sell) after the RSI was overbought or oversold in the recent past.
• It also checks if there is a 3-period regular bullish divergence in the RSI (if buy), or regular bearish divergence (if sell) and consider these in the entry condition.
• If these conditions are met, this indicator suggests that it may be a good time to enter a trade.
In summary this is how this indicator works:
• The indicator takes input settings such as the choice between using CCI or Momentum as the entry signal source, length parameters for CCI/Momentum, RSI levels for overbought and oversold conditions, RSI length, and options to plot mean reversion bands on the chart.
• It calculates the CCI and Momentum and RSI values based on user-defined length..
• It checks for regular bullish and bearish divergences (3 periods) in the RSI if the option is enabled.
• The script plots shapes on the chart to indicate the buy and sell signals based on the entry conditions.
• If the mean reversion bands option is enabled, it calculates the mean reversion, standard deviation, upper band, and lower band values.
• It also plots the upper band, mean reversion line, and lower band on the chart if the mean reversion bands option is enabled.
• This indicator includes alert conditions to generate alerts for the buy and sell signals.
• On top of that, users can opt to use only one alert for both buy and sell signals. (This can save Trading view subscribers with limited alerts.)
Important! Please do not consider everything you read here as financial advice. Additionally, do not rely solely on indicators for making your trading decisions. It is important to note that no indicator or strategy is perfect. Therefore, it is always recommended to backtest everything and practice proper risk management.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
Divergence Screener [Mr_Zed]Divergence Screener
This script allows you to scan multiple assets and timeframes for bullish and bearish divergences based on the RSI (Relative Strength Index) indicator.
Features
Supports up to 40 different assets and timeframes for simultaneous scanning.
Customizable settings for RSI period and source.
Adjustable lookback periods for identifying pivot highs and pivot lows.
Flexible range limits for filtering divergences based on the number of bars since the last pivot point.
Alerts for bullish and bearish divergences on confirmed bars.
RSI MTF [Market Yogi]The Multi-Time Frame RSI with Money Flow Index and Average is a powerful trading indicator designed to help traders identify overbought and oversold conditions across multiple time frames. It combines the Relative Strength Index (RSI) with the Money Flow Index (MFI) and provides an average value for better accuracy.
The Relative Strength Index (RSI) is a popular momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is used to identify overbought and oversold conditions in an asset. By incorporating the RSI across multiple time frames, this indicator offers a broader perspective on market sentiment.
In addition to the RSI, this indicator also includes the Money Flow Index (MFI). The MFI is a volume-based oscillator that measures the inflow and outflow of money into an asset. It takes into account both price and volume, providing insights into the strength and direction of buying and selling pressure.
By combining the RSI and MFI across multiple time frames, traders gain a comprehensive understanding of market dynamics. The indicator allows for comparing the RSI and MFI values across different time frames, enabling traders to identify divergences and potential trend reversals.
Furthermore, this indicator provides an average value of the multi-time frame RSI, offering a consolidated signal that helps filter out noise and enhance the accuracy of trading decisions.
Key Features:
1. Multi-Time Frame RSI: Combines the RSI across different time frames to provide a comprehensive view of market sentiment.
2. Money Flow Index (MFI): Incorporates the MFI to gauge buying and selling pressure based on both price and volume.
3. Average Calculation: Computes the average value of the multi-time frame RSI to generate a consolidated trading signal.
4. Divergence Detection: Enables traders to spot divergences between the RSI and MFI values, indicating potential trend reversals.
5. Overbought and Oversold Levels: Highlights overbought and oversold levels on the RSI, aiding in timing entry and exit points.
The Multi-Time Frame RSI with Money Flow Index and Average is a versatile tool that can be applied to various trading strategies, including trend following, swing trading, and mean reversion. Traders can adjust the time frame settings to suit their preferences and trading style.
Note: It's important to use this indicator in conjunction with other technical analysis tools and indicators to validate signals and make informed trading decisions.
MACD Normalized [ChartPrime]Overview of MACD Normalized Indicator
The MACD Normalized indicator, serves as an asset for traders seeking to harness the power of the moving average convergence divergence (MACD) combined with the advantages of the stochastic oscillator. This novel indicator introduces a normalized MACD, offering a potentially enhanced flexibility and adaptability to numerous market conditions and trading techniques.
This indicator stands out by normalizing the MACD to its average high and average low, also factoring in the deviation of the high-low position from the mean. This approach incorporates the high and low in the calculations, providing the benefits of stochastic without its common drawbacks, such as clipping problems. As a result, the indicator becomes exceptionally versatile and suitable for various trading strategies, including both faster and slower settings.
The MACD Normalized Indicator boasts a variety of options and settings. The features include:
Enable Ribbon: Toggle the display of the ribbon accompanying the MACD Normalized, as desired.
Fast Length: Determine the movement speed of the fast line to receive advance notice of potential market opportunities.
Slow Length: Control the movement pace of the slow line for smoother signals and a comprehensive outlook on market trends.
Average Length: Specify the length used to calculate the high and low averages, providing greater control over the indicator's granularity.
Upper Deviation: Establish the extent to which the high and low values deviate from the mean, ensuring adaptability to diverse market situations.
Inner Band (Middle Deviation): Adjust the balance between the high and low deviations to create an inner band signal, giving traders a secondary level of market analysis and decision-making support.
Enable Candle Color: Enable the coloring of candles based on the MACD Normalized value for effortless visualization of trading potential.
Use Cases for the MACD Normalized Indicator
In addition to analyzing market trends and identifying potential trading opportunities, ChartPrime's MACD Normalized Indicator offers a range of applications for traders. These use cases encompass distinct trading scenarios and strategies:
Overbought and Oversold Regions
One of the key applications of the MACD Normalized Indicator is identifying overbought and oversold regions. Overbought refers to a situation where an asset's price has risen significantly and is expected to face a downturn, while oversold indicates a price drop that may subsequently lead to a reversal.
By adjusting the indicator's parameters, such as the upper and inner deviation levels, traders can set precise boundaries to determine overbought and oversold areas. When the MACD moves into the upper region, it may signal that the asset is overbought and due for a price correction. Conversely, if the MACD enters the lower region, it possibly indicates an oversold condition with the potential for a price rebound.
Signal Line Crossovers
The MACD Normalized Indicator displays two lines: the fast line and the slow line (inner band). A common trading strategy involves observing the intersection of these two lines, known as a crossover. When the fast line crosses above the slow line, it may signify a bullish trend or a potential buying opportunity. Conversely, a crossover with the fast line moving below the slow line typically indicates a bearish trend or a selling opportunity.
Divergence and Convergence
Divergence occurs when the price movement of an asset does not align with the corresponding MACD values. If the price establishes a new high while the MACD fails to do the same, a bearish divergence emerges, suggesting a potential downtrend. Similarly, a bullish divergence takes place when the price forms a new low but the MACD does not follow suit, hinting at an upcoming uptrend.
Convergence, on the other hand, is represented by the MACD lines moving closer together. This movement signifies a potential change in the trend, providing traders with a timely opportunity to enter or exit the market.
Divergence V2This indicator is based on the concept of divergence. I recommend that you find out and study about this yourself as the concept of divergence will not be explained in depth in this description.
This indicator will show divergences between the asset price and the RSI oscillator. The indicator will look for divergent points between the rising highs and falling lows of the asset; and the rising lows and falling highs of the RSI.
The trend of the asset tends to follow the behavior of the oscillator when a divergence occurs. So if we find a divergence between the two, the price of the asset is likely to follow the trend of the oscillator.
This indicator looks for these types of divergences and will show (based on the RSI) if there is a bullish or bearish divergence.
If it is bullish, it will show a line joining those points in green and if it is bearish in red. In addition, it will show a label where you can see the number of occurrences that have been found from a certain point to another.
Note: this indicator can be complemented with the “Divergence RSI V2” indicator which is also found in my library.
Settings
Backtesting Bars: is the number of bars back that the indicator will check. No more than 1000 is recommended as this will slow down the search.
Tolerance: number of times a divergent line can cross a bar. If you place 0, no bar can be crossed by a diverging line.
Min Bars To detect: will only search for divergences (or lines) that have the minimum number of bars selected in this option. Default option is 30.
Min Bars To detect: it will only search for divergences (or lines) that have the maximum number of bars selected in this option. Default option is 100.
Source Highs: The high points will be based on the close of each bar. You can use as another alternative.
Source Lows: The low points will be based on the close of each bar. You can use as another alternative.
Use squeeze parameter : only look for divergences (bullish or bearish) at times when such an indicator is in favor of the trend or coincides with the corresponding RSI divergence.
ADX Divergence IndicatorDescription:
The ADX Divergence Indicator (ADXDI) is a technical analysis tool designed to identify potential bullish and bearish signals based on the Average Directional Index (ADX), the Positive Directional Indicator (+DI), and the Negative Directional Indicator (-DI) lines. This overlay indicator plots circles on the chart to highlight these signals.
How it Works:
The ADXDI calculates the ADX, +DI, and -DI values using user-defined parameters. It then evaluates specific conditions to determine potential bullish and bearish signals. The indicator considers rising and falling trends of the +DI and -DI lines, as well as changes in the ADX values. Additionally, it detects a bounce condition when the current ADX is less than the previous ADX value and that ADX value is higher than the one previous to it.
Usage:
To effectively utilize the ADX Divergence Indicator, follow these steps:
1. Apply the ADX Divergence Indicator to your chart by adding it from the available indicators.
2. Observe the circles plotted on the chart:
- Bullish circles (green by default) indicate potential bullish signals.
- Bearish circles (red by default) indicate potential bearish signals.
4. Interpret the signals provided by the indicator:
- A bullish signal occurs when the +DI line rises and the -DI line falls.
- A bearish signal occurs when the -DI line rises and the +DI line falls.
- The presence of a bounce condition (ADX < ADX and ADX > ADX) further strengthens the signal.
5. Combine the signals from the ADX Signals indicator with other technical analysis tools, such as support and resistance levels, trend lines, or candlestick patterns, to confirm potential trade setups.
6. Customize the indicator's parameters, such as the lengths of the DI and ADX calculations or the colors of the plotted circles, to suit your trading preferences.
7. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
SMT Divergences [LuxAlgo]The SMT Divergences indicator highlights SMT divergences between the chart symbol and two user-selected tickers (ES and YM by default).
A dashboard returning the SMT divergences statistics is also provided within the settings.
🔶 SETTINGS
Swing Lookback: Calculation window used to detect swing points.
Comparison Ticker: If enabled, will detect SMT divergences between the chart prices and the prices of the selected ticker.
🔹 Dashboard
Show Dashboard: Displays statistics dashboard on the chart.
Location: Location of the dashboard on the chart.
Size: Size of the displayed dashboard.
🔶 USAGE
SMT Divergences are characterized by diverging swing points between two securities.
The detection of SMT Divergences is performed by detecting swing points using the user chart prices as well as the prices of the selected external tickers. If a swing point on the chart ticker is detected at the same time on external tickers, comparison is performed.
Due to the detection requiring swing point confirmation (3 candles by default), this indicator can better be used to study price behaviors on the occurrence of an SMT divergence.
The dashboard highlights the number of SMT divergences that occurred on a swing high and swing low between the chart ticker and the selected external tickers.
The returned percentage indicates the proportion of swing highs or swing lows that led to an SMT divergence.
Strength Comparison @joshuuuexample:
if you want to find the stronger/weaker pair between eurusd and gbpusd, what you can do is check the eurgbp charts. if eurgbp is bullish, that means, that longs longs on eurusd are better than on gbpusd.
Unfortunately, there is no such thing to compare for example usoil with ukoil, or us100 with us500.
That's where this indicator comes in handy. You can choose whatever two symbols you want, that are supported by tradingview and you will get a chart, which shows symbol1/symbol2.
Now you can use normal market structure, or the ema option, to find out the stronger symbol.
This can also help predicting the so called SMT Divergences, taught by ICT.
⚠️ Open Source ⚠️
Coders and TV users are authorized to copy this code base, but a paid distribution is prohibited. A mention to the original author is expected, and appreciated.
⚠️ Terms and Conditions ⚠️
This financial tool is for educational purposes only and not financial advice. Users assume responsibility for decisions made based on the tool's information. Past performance doesn't guarantee future results. By using this tool, users agree to these terms.
Divergence IndicatorDescription:
The Divergence Indicator (DI) is a powerful technical analysis tool designed to identify potential bullish and bearish signals based on multiple indicators, including RSI, Stochastic Oscillator, MACD, and EMA. It helps traders spot divergences between price and these indicators, indicating potential trend reversals or continuations.
How it Works:
The Divergence Indicator compares various indicators and their relationships with price to identify bullish and bearish signals. It considers conditions such as rising or falling values of the Stochastic Oscillator (%K), RSI, and MACD lines, as well as the crossover and crossunder of the MACD Line and Signal Line. Additionally, it evaluates the relationship between fast and slow Exponential Moving Averages (EMA) to detect divergences. When a bullish or bearish condition is met, circles are plotted on the chart to highlight the signals.
Usage:
To effectively utilize the Divergence Indicator, follow these steps:
1. Apply the DI indicator to your chart by adding it from the available indicators.
2. Customize the color settings to suit your preferences. The bullish and bearish colors determine the colors of the plotted circles.
3. Observe the circles plotted on the chart:
- Bullish circles indicate potential bullish signals.
- Bearish circles indicate potential bearish signals.
4. Interpret the signals provided by the indicator:
- A bullish signal may occur when there is price divergence accompanied by rising values of the Stochastic Oscillator (%K), RSI, and MACD lines, or when the MACD Line crosses above the Signal Line. Additionally, a histogram value close to zero may strengthen the signal.
- A bearish signal may occur when there is price divergence accompanied by falling values of the Stochastic Oscillator (%K), RSI, and MACD lines, or when the MACD Line crosses below the Signal Line. A histogram value close to zero may also strengthen the signal.
5. Be cautious of false signals by considering additional factors such as the relationship between the fast and slow Exponential Moving Averages (EMA). If the EMAs or MACD values do not support the identified divergence, the signal may be less reliable.
6. Combine the signals from the Divergence Indicator with other technical analysis tools, such as support and resistance levels, trend lines, or candlestick patterns, to confirm potential trade setups.
7. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
Note: The Divergence Indicator provides valuable insights into potential trend reversals or continuations based on divergences between price and multiple indicators. However, it is recommended to use this indicator in conjunction with other technical analysis tools and perform thorough analysis before making trading decisions.
Volume Divergence IndicatorThe Volume Divergence Indicator is a powerful tool that can help traders identify potential price reversals in the market by analyzing volume data. The indicator has several features, including divergences signals, volume spikes, volume contractions, and volume trend signals.
Unlike most divergence indicators, this one is focused on providing non-repainting alerts. That is why I chose not to use pivot points.
The Volume Divergence Indicator can be used as an overlay or a non-overlay. The overlay mode displays the indicator on top of the price chart, while the non-overlay mode displays the indicator below the price chart.
The indicator has five alerts that can be used to generate alerts:
Bullish Divergence : This alert is generated when prices are making lower lows, but volume is making higher lows. This suggests that the selling pressure is weakening, and a bullish reversal may be imminent.
Bearish Divergence : This alert is generated when prices are making higher highs, but volume is making lower highs. This suggests that the buying pressure is weakening, and a bearish reversal may be imminent.
Volume Spike : This alert is generated when volume spikes above a certain threshold, such as two standard deviations above the moving average. This suggests that there is unusual buying or selling activity in the market, and traders may want to pay attention to the price movements that follow.
Volume Contraction : This alert is generated when volume contracts to a certain level, such as two standard deviations below the moving average. This suggests that there is little buying or selling activity in the market, and traders may want to be cautious until volume picks up again.
Volume Trend : This alert is generated when volume trends above or below the moving average for a certain number of periods, such as five or ten. This suggests that there is a sustained increase or decrease in buying or selling pressure, and traders may want to adjust their trading strategy accordingly.
To customize the indicator settings, users can adjust the following inputs:
Choose overlay mode: select either Overlay or Non-Overlay
Price and volume lookback: set the number of bars to look back for price and volume data
Bull and bear sensitivity: adjust the sensitivity of the bullish and bearish divergences
Volume MA length: set the length of the moving average used to calculate volume spikes and contractions
Sensitivity of spikes: adjust the sensitivity of the volume spikes
Sensitivity of contractions: adjust the sensitivity of the volume contractions
Trend sensitivity: set the number of periods to identify the volume trend
The Volume Divergence Indicator can be a valuable addition to any trader's toolkit. It can help traders identify potential price reversals in the market, as well as unusual buying or selling activity.
I am open to suggestions for further updates or additions.
RSI Divergence Method█ OVERVIEW
This is a divergence indicator based on Relative Strength Index (RSI).
My attempt to make this indicator updated based on latest pine script features such as type, object and method.
█ FEATURES
1. Color of plot and label is based on contrast color of chart background. Able to customize color from style menu.
2. Big divergence (Regular Divergence) is based on lime / red color.
3. Small divergence (Hidden Divergence) is based on contrast color of chart background.
█ EXAMPLES / USAGES
(Very promising) [Abdullah Ahmed] Momentum indicator V.1Description: MOM-LRC is a powerful technical analysis indicator designed to provide traders with signals based on the momentum of an asset's price and its deviation from its mean value. The indicator calculates the exponential RSI and uses a custom function to determine the percentage change from the mean. The upper and lower bands of the momentum channel are then calculated using linear regression of the rate of change from the mean. The channel multiplier can be adjusted to increase or decrease the sensitivity of the indicator.
How to use :
1 - Using MOM-LRC , look for buy signals when the price of the asset is below the lower border of the channel and retracing up. The opposite is true in the case of sell signals.
2 - It is also used in the case of negative and positive divergences, just as you use RSI
The indicator can be used on any time frame and any asset, making it a versatile tool for traders of all levels.
features:
Calculates exponential RSI and percentage change from the mean
Uses linear regression to calculate upper and lower bands of momentum channel
Adjustable channel multiplier for increased sensitivity
Suitable for any time frame and any asset
Happy trading!
Vector MACDCalculates five vector moving averages of different periods and averages them.
Origin moving average is ALMA from the mid point of the candles (hl2.)
Vector moving averages are the difference between Hull Moving Averages and the Origin MA.
It is a momentum indicator that shows when long term and short term trends agree with the move. It moves stronger, when all the vectors point to the same direction.
Look for divergence to detect trend changes.
Trampoline DotsTrampoline Dots (Price Divergence)
Higher Time Frame Price Divergence:
Trampoline Dots serve as a "quick bounce" tool. These little dots will trigger whenever the higher aggregation MACD is above / below zero and the price is below / above the 50 period simple moving average. When these criteria are met, the price is usually under pressure of strong divergence, more often than not price will sharply reverse into the trend direction usually within the next few bars.
The Use of The Trampoline Dots:
This indicator can serve multiple ways. Obviously the main use case is the price divergence. These "dots" will not give you any precise & exact entry. But rather a zone of possible incoming reversal. There is no timing to it. All these dots will do is warn you about potential sharp reversal in the upcoming bars. It can be used by itself alone for sure, but the best way to utilize the dots is to use them in combination of other trend or momentum studies. The best signals are the ones that are within the larger time frame trend. Another great thing is that the visuals are really straight-forward and simple. It is either green dot or a red dot. Nothing more, nothing less. Also since the indicator is pretty small, it can be easily layered onto other studies as well which can create an additional confirmation for different patterns or setups.
Which Time Frame Are Reliable?
This indicator works on any time frame. But the most "stable" one is the daily & hourly time frame. My personal favorite is the hourly since these divergences can produce amazing entries in the daily trends (which are usually hidden on the daily chart). In the most aggresive trends, I like to see the green dots triggering around the 8 EMA and 13 EMA. Daily chart can show the daily and weekly (big divergences) that can take multiple days & weeks to resolve.
Hope it helps.
Recursive Zigzag [Trendoscope]Here is an another outcome of Object Oriented Zigzag and Pattern Ecosystem of Libraries.
We already have another implementation of recursive zigzag which makes use of earlier library rzigzag . Here in this example, we make use of similar logic but leverage the new type and method based Zigzag system libraries to derive the indicator.
🎲 Design Overview
Similar to Recursive Auto Pitchfork, here too the indicator code is around 50 lines. Whereas most of the heavy lifting is done by the libraries.
🎲 Base Libraries
Base libraries are those which does not have any dependency. They form basic structures which are later used in other libraries. These libraries need to be crafted carefully so that minimal updates are done later on. Any updates on these libraries will impact all the dependent libraries and scripts.
🎯 Drawing
DrawingTypes - Defines basic drawing types Point, Line, Label, Box, Linefill and related property types.
DrawingMethods - All the methods or functionality surrounding Basic types are defined here.
🎲 Layer 1 Libraries
These are the libraries which has direct dependency on base libraries.
🎯 Zigzag
ZigzagTypes - Types required for defining Zigzag and Divergence
ZigzagMethods - Methods associated with Zigzag Type definitions.
🎲Indicator
Indicator draws zigzags based on given length. And then recursively derives next level zigzags based on previous levels. As per the utility, indicator is useful in several ways
Visualising price structure based on zigzag pivots - which in turn can help visualise patterns.
Ability to add any oscillator makes it easy to spot divergences with choice of indicators.
Programmers can use the derived values to build complex algorithms such as automatic pattern recognition.
🎯 Settings
Settings are explained via tooltips. These are very much straight forward and directly related to zigzag, oscillators and divergence.
Universal Moving Average Convergence DivergenceI changed MACD formula to divergence of (MA26/MA12 - 1).
And its make it more useful.
Cuz:
1) comparability with all other coins with different prices.
2) fix small numbers in low price coines like shiba
3) making a good indicator like RSI to use it for optimization and ML/AI projects as a variable
Most important thing about this indicator is that its Universal
Now you can compare the UMACD of Shiba with Bitcoin without any problem in matamatics space.No need to use virtuality and its important in Optimization problems that we rediuse the problem from a picture to a number(A plot to a list of numbers)
If we don't care about exagrated pumps and dumps, we can say to it Normalized-MACD too. Cuz in normal situations its MAX ≈ 0.1 and MIN ≈ -0.1
RSI Overbought/Oversold + Divergence IndicatorDESCRIPTION:
This script combines the Relative Strength Index ( RSI ), Moving Average and Divergence indicator to make a better decision when to enter or exit a trade.
- The Moving Average line (MA) has been made hidden by default but enhanced with an RSIMA cloud.
- When the RSI is above the selected MA it turns into green and when the RSI is below the select MA it turns into red.
- When the RSI is moving into the Overbought or Oversold area, some highlighted areas will appear.
- When some divergences or hidden divergences are detected an extra indication will be highlighted.
- When the divergence appear in the Overbought or Oversold area the more weight it give to make a decision.
- The same color pallet has been used as the default candlestick colors so it looks familiar.
HOW TO USE:
The prerequisite is that we have some knowledge about the Elliot Wave Theory, the Fibonacci Retracement and the Fibonacci Extension tools.
Wave 1
(1) When we receive some buy signals we wait until we receive some extra indications.
(2) On the RSI Overbought/Oversold + Divergence Indicator we can see a Bullish Divergence and our RSI is changing from red to green ( RSI is higher then the MA).
(3) If we are getting here into the trade then we need to use a stop loss. We put our stop loss 1 a 2 pips just below the lowest wick. We also invest maximum 50% of the total amount we want to invest.
Wave 2
(4) Now we wait until we see a clear reversal and here we starting to use the Fibonacci Retracement tool. We draw a line from the lowest point of wave(1) till the highest point of wave (1). When we are retraced till the 0.618 fib also called the golden ratio we check again the RSI Overbought/Oversold + Divergence Indicator. When we see a reversal we do our second buy. We set again a stop loss just below the lowest wick (this is the yellow line on the chart). We also move the stop loss we have set in step (3) to this level.
Wave 3
(5) To identify how far the uptrend can go we need to use the Fibonacci Extension tool. We draw a line from the lowest point of wave(1) till the highest point of wave (1) and draw it back to the lowest point of wave (2). Wave (3) is most of the time the longest wave and can go till it has reached the 1.618 or 2.618 fib. On the 1.618 we can take some profit. If we don't want to sell we move our stop loss to the 1 fib line (yellow line on the chart).
(6) We wait until we see a clear reversal on the Overbought/Oversold + Divergence Indicator and sell 33% to 50% of our investment.
Wave 4
(7) Now we wait again until we see a clear reversal and here we starting to use the Fibonacci Retracement tool. We draw a line from the lowest point of wave(2) till the highest point of wave (3). When we are retraced till the 0.618 fib also called the golden ratio we check again the RSI Overbought/Oversold + Divergence Indicator. When we see a reversal we buy again. We set again a stop loss just below the lowest wick (this is the yellow line on the chart).
(8) If we bought at the first reversal ours stop los was triggered (9) and we got out of the trade.
(9) If we did not bought at step (7) because our candle did not hit the 0.618 fib or we got stopped out of the trade we buy again at the reversal.
Wave 5
(10) To identify how far the uptrend can go we need to use the Fibonacci Extension tool. We draw a line from the lowest point of wave(2) till the highest point of wave (3) and draw it back to the lowest point of wave (4). Most of the time wave 5 goes up till it has reached the 1 fib. And that is the point where we got out of the trade with all of our investment. In this trade we got out of the trade a bit earlier. We received the sell signals and got a reversal on the Overbought/Oversold + Divergence Indicator.
We are hoping you learned something so you can make better decisions when to get into or out of a trade.
If you have any question just drop it into the comments below.
FEATURES:
• You can show/hide the RSI .
• You can show/hide the MA.
• You can show/hide the lRSIMA cloud.
• You can show/hide the Stoch RSI cloud.
• You can show/hide and adjust the Overbought and Oversold zones.
• You can show/hide and adjust the Overbought Extended and Oversold Extended zones.
• You can show/hide the Overbought and Oversold highlighted zones.
• Etc...
HOW TO GET ACCESS TO THE SCRIPT:
• Favorite the script and add it to your chart.
REMARKS:
• This advice is NOT financial advice.
• We do not provide personal investment advice and we are not a qualified licensed investment advisor.
• All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice.
• We will not and cannot be held liable for any actions you take as a result of anything you read here.
• We only provide this information to help you make a better decision.
• While the information provided is believed to be accurate, it may include errors or inaccuracies.
Good Luck and have fun,
The CryptoSignalScanner Team
TICK Divergence + Heikin Ashi [Pt]This indicator identifies divergence between NYSE TICK and price, displays TICK in line, bar, or Heikin Ashi format, calculates various types of moving average lines and shows moving average crossovers.
What is TICK
NYSE TICK, also known as the TICK index, is a technical analysis indicator that shows the number of stocks on the New York Stock Exchange (NYSE) that are trading on an uptick or a downtick in a particular period of time. The TICK index is calculated by subtracting the number of stocks trading on a downtick from the number of stocks trading on an uptick. A reading of +1000 on the TICK index, for example, would indicate that there are 1000 more stocks trading on an uptick than on a downtick. The TICK index is often used as a measure of market sentiment, as it can provide insight into whether there is more buying or selling pressure in the market at a given time. A high TICK index reading may suggest that there is strong buying pressure, while a low TICK index reading may indicate that there is more selling pressure in the market.
The TICK index is usually very volatile, so this indicator is best suited for lower timeframes, such as 1 to 5 min charts.
Features
1) Shows bullish, bearish, hidden bullish and hidden bearish divergences
2) Three display modes for TICK data: Line, Bar, Heikin-Ashi
3) Plot various moving average lines and crossovers. Overall background
4) Configurable significant zones. Background colors will change based on closing TICK value.
RSI Multi Length With Divergence Alert [Skiploss]This is a modified indicator base code from RSI Multi Length and we will add some of functions by finding a classic/hidden divergence and alert.
The indicator returns information over RSI using multiple periods and calculates the percentage of overbought and oversold by overbought divided by oversold.
To find the divergence and hidden divergence we use base code from platform (Divergence Indicator) but change the input from normal to the average (RSI Multi Length).
RSI Settings
Maximum Length is maximum period.
Minimum Length is minimum period.
Overbought Level is value of the overbought level .
Oversold Level is value of the oversold level.
Source is input source of the indicator.
Divergence Settings
Pivot Right is value look back to the right side.
Pivot Left is value look back to the left side.
Max Range is maximum range value.
Min Range is minimum range value.
Alert Settings
It will be part of display of Divergence and Hidden Divergence.
Style Settings
Color of overbought/oversold/Bullish/Bearish which you can change as you wish.
