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Alternate Bat Harmonic Pattern [TradingFinder] ALT Bat Indicator🔵 Introduction The Alternate Bat harmonic pattern is one of the most precise and practical tools in technical analysis, introduced by Scott Carney in 2003. This pattern focuses on specific Fibonacci ratios, such as 0.382 at point B and 1.13XA at point D, to identify Potential Reversal Zones (PRZ) where price is likely to reverse. The Alternative Bat pattern emerged as a result of repeated failures observed in the standard Bat pattern. Traders entering trades near the 0.886XA level of the standard Bat often encountered losses. In the Alternate Bat, point D extends beyond 0.886XA, typically reversing at 1.13XA, offering a more accurate identification of the reversal zone. A key characteristic of this pattern is its M- or W-shaped structure, where the midpoint B retraces 0.382XA or less. Additionally, the CD leg requires an extension of 2.0 to 3.618 to complete the pattern. Due to its accuracy and the predictable behavior of price near the PRZ, the Alternate Bat pattern is recognized as a powerful tool for forecasting price reversals. In the bullish Alternative Bat pattern, an M-shaped structure forms. After an initial upward movement (XA), price undergoes a short correction at point B (0.382XA) and then declines toward point D (1.13XA and an extension of 2.0 to 3.618BC), where a potential upward reversal is expected. In the bearish Alternate Bat pattern, a W-shaped structure forms. After an initial downward movement (XA), price retraces slightly at point B (0.382XA) and then rises toward point D (1.13XA and an extension of 2.0 to 3.618BC), where a potential downward reversal is anticipated. 🔵 How to Use The Alternate Bat harmonic pattern is a key tool for identifying potential reversal zones (PRZ) in the market. By leveraging the 0.382 retracement at point B and the 1.13XA extension at point D, along with symmetrical price structures, this pattern offers precise reversal opportunities in both bullish and bearish market conditions. 🟣 Bullish Alternate Bat Pattern The bullish Alternate Bat pattern forms during a downtrend, signaling a potential reversal to the upside. This pattern consists of three downward movements with two corrective waves, ultimately reaching point D, which marks the PRZ. At the PRZ, the convergence of Fibonacci levels—1.13XA and extensions ranging from 2.0 to 3.618BC—creates a strong support zone where price is likely to reverse upward. 🟣 Bearish Alternative Bat Pattern The bearish Alternate Bat pattern develops during an uptrend, indicating a potential reversal to the downside. This pattern features three upward price movements with two retracements, ending at point D, where the PRZ forms. Point D is defined by the 1.13XA extension and the 2.0 to 3.618BC projection, creating a strong resistance zone where price is expected to reverse downward. 🔵 Setting 🟣 Logical Setting ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition. Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern. Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk. Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period. 🟣 Genaral Setting Show : Enter "On" to display the template and "Off" to not display the template. Color : Enter the desired color to draw the pattern in this parameter. LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness. LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries. 🟣 Alert Setting Alert : On / Off Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar". Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default. 🔵 Conclusion The Alternate Bat harmonic pattern, with its precise Fibonacci ratios like 0.382 and 1.13XA, is a reliable tool for identifying Potential Reversal Zones (PRZ) in financial markets. By recognizing symmetrical price structures and focusing on both bullish and bearish scenarios, traders can identify optimal entry and exit points with high accuracy. The key strength of this pattern lies in its ability to define strong support and resistance zones near the PRZ, increasing the probability of price reversals. Combining the pattern with candlestick confirmations and volume analysis enhances its effectiveness. Ultimately, incorporating the Alternative Bat pattern with proper risk management and Fibonacci-based targets allows traders to enter the market confidently and capitalize on potential price reversals.
Pine Script™ indicator
by TFlab
Ema Support & Resistance With Signals [ClarifyChart]Use Case This indicator is designed for traders who seek to identify key reversal points in the market based on dynamic support and resistance levels. The tool is especially useful for swing traders and trend-followers who rely on price reversals near key levels of support and resistance. By combining exponential moving averages (EMA) with the Average True Range (ATR), this script dynamically adjusts the support and resistance bands to reflect market volatility, helping traders stay aligned with the prevailing trend while spotting potential reversal opportunities. Logic The core of the indicator is built around dynamic EMAs that act as support and resistance levels, which adjust according to market volatility (calculated using ATR). These levels form a range in which price is expected to either reverse or continue its movement. The EMA-based support and resistance levels are calculated at multiple distances, allowing traders to identify significant zones where price may change direction. The indicator also integrates a buffer percentage to avoid too many signals by ensuring the price is a reasonable distance from the support or resistance level before a reversal is triggered. Signal Logic Reversal signals are generated based on the following conditions: Bullish Reversal: If the price crosses below a support level by a predefined buffer percentage and then moves back above it, a bullish signal is triggered. Bearish Reversal: If the price crosses above a resistance level by the buffer percentage and then moves back below it, a bearish signal is generated. These conditions are designed to capture the most relevant reversal points while minimizing false signals. Example Trade Let’s say the price is approaching a support level (sup_ma1) and crosses below it by 0.5% (defined by the buffer). If the price then starts to rise back above this support level, a bullish reversal signal will appear. A trader might enter a long position once the price crosses back above the support level, expecting a price increase. Similarly, if the price hits a resistance level (res_ma1) and then reverses downward, a bearish signal would indicate an opportunity to enter a short position. Flaws While the indicator is designed to capture major reversals, there are some limitations: False signals in choppy markets: The indicator may trigger occasional false signals in sideways or range-bound markets, especially if the price crosses support/resistance levels multiple times without a true reversal. Lagging indicators: Like most trend-following systems, this indicator might not always catch the very beginning of a reversal, especially during high volatility periods. Over-sensitivity: If the buffer percentage is set too small, the indicator might generate too many signals, leading to overtrading or confusion. Overall, this tool can be a valuable part of a trader's strategy when combined with other technical indicators or used in markets where price is likely to respect key support and resistance zones.
Pine Script™ indicator
by ClarifyChart
Tomas Ratio Strategy with Multi-Timeframe AnalysisHello, I would like to present my new indicator I have compiled together inspired by Calmar Ratio which is a ratio that measures gains vs losers but with a little twist. Basically the idea is that if HLC3 is above HLC3 (or previous one) it will count as a gain and it will calculate the percentage of winners in last 720 hourly bars and then apply 168 hour standard deviation to the weekly average daily gains. The idea is that you're supposed to buy if the thick blue line goes up and not buy if it goes down (signalized by the signal line). I liked that idea a lot, but I wanted to add an option to fire open and close signals. I have also added a logic that it not open more trades in relation the purple line which shows confidence in buying. As input I recommend only adjusting the amount of points required to fire a signal. Note that the lower amount you put, the more open trades it will allow (and vice versa) Feel free to remove that limiter if you want to. It works without it as well, this script is meant for inexperienced eye. I will also publish a indicator script with this limiter removed and alerts added for you to test this strategy if you so choose to. Also, I have added that the trades will enter only if price is above 720 period EMA Disclaimer This strategy is for educational purposes only and should not be considered financial advice. Always backtest thoroughly and adjust parameters based on your trading style and market conditions. Made in collaboration with ChatGPT.
Pine Script™ strategy
by Beefmaster3
Mastering ATR for Smart Stop Loss and Take Profit PlacementUsing the ATR indicator to set Stop Loss and Take Profit levels provides a dynamic and flexible way to manage risk based on the volatility of the market. This method ensures that your SL and TP are always in tune with current market conditions, preventing unnecessary stop-outs while maximizing the potential for profit. The table in the script makes it easy to view your calculated levels directly on the chart, improving your trading efficiency. If you're looking for a more automated way to manage your trades, integrating ATR-based SL and TP can be a powerful tool in your strategy. Happy Trading!
Pine Script™ indicator
by premier213
Bitcoin Exponential Profit Strategy### Strategy Description: The **Bitcoin Trading Strategy** is an **Exponential Moving Average (EMA) crossover strategy** designed to identify bullish trends for Bitcoin. 1. **Indicators**: - **Fast EMA (default 9 periods)**: Represents the short-term trend. - **Slow EMA (default 21 periods)**: Represents the longer-term trend. 2. **Entry Condition**: - A **bullish crossover** occurs when the Fast EMA crosses above the Slow EMA. - The strategy enters a **long position** with a user-defined order size (default 0.01 BTC). 3. **Exit Conditions**: - **Take Profit**: Closes the position when the profit target is reached (default $100). - **Stop Loss**: Closes the position when the price drops below the stop loss level (default $50). - **Bearish Crossunder**: Closes the position when the Fast EMA crosses below the Slow EMA. 4. **Visual Signals**: - **BUY signals**: Displayed when a bullish crossover occurs. - **SELL signals**: Displayed when a bearish crossunder occurs. This strategy is optimized for trend-following behavior, ensuring positions are aligned with upward-moving trends while managing risk through clear stop-loss and take-profit levels.
Pine Script™ strategy
by kfirporter
Tripple EMA 13, 50, 200 by AR (Ankurna)This script plots three key Exponential Moving Averages (EMAs) to help traders analyze price trends and identify potential trading opportunities: 13 EMA (Red): Short-term trend indicator. 50 EMA (Green): Medium-term trend indicator. 200 EMA (Black): Long-term trend indicator, commonly used to determine overall market direction. Features: Custom Colors: 13 EMA is plotted in red for quick identification of short-term trends. 50 EMA is in green, providing a clear view of medium-term trends. 200 EMA is in black, a reliable marker of long-term trends. Simple and Clean Design: The script is lightweight and easy to use for all traders, whether you're a beginner or a pro. Overlay on Chart: This indicator displays directly on the price chart for better clarity and analysis. Usage : Crossovers: Use the crossovers between the EMAs to identify potential buy or sell signals. Trend Confirmation: Compare price action relative to the EMAs to confirm the market's trend. Support/Resistance: Long-term EMAs like the 200 EMA often act as dynamic support or resistance. This indicator is ideal for day traders, swing traders, and long-term investors alike. Customize the EMA settings in the script if you need different periods.
Pine Script™ indicator
by Ankurna
Tripple EMA 13, 50, 200 By AR (Ankurna)This script plots three key Exponential Moving Averages (EMAs) to help traders analyze price trends and identify potential trading opportunities: 13 EMA (Red): Short-term trend indicator. 50 EMA (Green): Medium-term trend indicator. 200 EMA (Black): Long-term trend indicator, commonly used to determine overall market direction. Features: Custom Colors: 13 EMA is plotted in red for quick identification of short-term trends. 50 EMA is in green, providing a clear view of medium-term trends. 200 EMA is in black, a reliable marker of long-term trends. Simple and Clean Design: The script is lightweight and easy to use for all traders, whether you're a beginner or a pro. Overlay on Chart: This indicator displays directly on the price chart for better clarity and analysis. Usage : Crossovers: Use the crossovers between the EMAs to identify potential buy or sell signals. Trend Confirmation: Compare price action relative to the EMAs to confirm the market's trend. Support/Resistance: Long-term EMAs like the 200 EMA often act as dynamic support or resistance. This indicator is ideal for day traders, swing traders, and long-term investors alike. Customize the EMA settings in the script if you need different periods.
Pine Script™ indicator
by Ankurna
Camarilla Screener//@version=5 indicator("Camarilla Screener", overlay=false) // Input for timeframe (Yearly or Monthly) timeframe = input.timeframe("1M", "Timeframe for Analysis") // Fetch high, low, and close of the selected timeframe high_tf = request.security(syminfo.tickerid, timeframe, high) low_tf = request.security(syminfo.tickerid, timeframe, low) close_tf = request.security(syminfo.tickerid, timeframe, close) // Calculate Camarilla levels range_hl = high_tf - low_tf S3 = close_tf - (range_hl * 1.1 / 4) S4 = close_tf - (range_hl * 1.1 / 2) S5 = close_tf - (range_hl * 1.1) // Current month candle details open_current = request.security(syminfo.tickerid, "1M", open) close_current = request.security(syminfo.tickerid, "1M", close) low_current = request.security(syminfo.tickerid, "1M", low) high_current = request.security(syminfo.tickerid, "1M", high) // Conditions low_sweep = low_current < low_tf // Monthly low sweeps previous month's low bullish_close = close_current > open_current // Bullish close doji_condition = math.abs(close_current - open_current) < (0.005 * close_current) // Doji condition cross_camarilla = high_current > S3 or high_current > S4 or high_current > S5 // Camarilla levels breached // Combine all conditions condition_met = low_sweep and bullish_close and doji_condition and cross_camarilla // Plot signals plotshape(condition_met, title="Signal", location=location.top, color=color.green, style=shape.labelup, text="Camarilla Setup") // Display levels for reference plot(S3, color=color.red, title="S3") plot(S4, color=color.orange, title="S4") plot(S5, color=color.yellow, title="S5")
Pine Script™ indicator
by Sayonee