Bank Nifty ScalpingThis indicator is designed for scalping purposes.
Users have the option to input the desired source and enable or disable the following indicators:
Multiple EMA (Exponential moving average)
Simultaneously displays multiple moving averages to quickly identify shifts in momentum and obtain confirmation from slower-moving averages.
By default, the EMA display settings are configured to show the 20-day EMA and the 200-day EMA. However, users have the flexibility to modify the display settings according to their preferences. This means that users can customize the indicator to show the EMA values of their choice, such as EMA 50 and EMA 100.
VWAP ( Volume weighted average price )
Default value is set to ‘hl2’
A bullish trend is indicated when the price is above the Volume Weighted Average Price (VWAP), while a bearish trend is indicated when the price is below the VWAP.
VWMA ( Volume weighted moving average )
In the VWMA (Volume Weighted Moving Average) indicator, a default value of 20 is used. If the price is higher than the VWMA, it typically indicates a bullish trend. Conversely, if the price is lower than the VWMA, it suggests a bearish trend. The VWMA takes into account both price and volume, providing a weighted average that can help identify shifts in market sentiment.
Multiple SuperTrends
Default value is 10 and 2 / 10 and 3
A bullish trend is identified when the price is above the SuperTrend indicator, whereas a bearish trend is observed when the price is below the SuperTrend indicator.
Camarilla Pivot Points (Level 3 and 4 only)
Levels 3 and 4 serve as crucial support and resistance levels, acting as the final line of defense against strong trends. These levels are expected to generate reversals, where price often changes direction.
CPR ( Central Pivot Points)
The Daily Central Pivot Point Indicator is a popular tool used in technical analysis. It calculates several levels based on the previous day's high, low, and closing prices.
Strong Volume
The user has the ability to set the average volume for Nifty and BankNifty indices to calculate strong volume.
Elder Impulse System
The Impulse System, developed by Alexander Elder and discussed in his book "New Trading for a Living," is a censorship trading system designed to determine whether a trade should be allowed or prohibited. Additionally, it can be used to identify when a trend is starting to weaken. The Impulse System relies on the following factors:
1. Slope of a Fast Exponential Moving Average (EMA): The fast EMA's slope reflects the price's inertia or momentum.
2. Slope of the Moving Average Convergence Divergence (MACD): The MACD's slope indicates the strength or power of the price movement.
Based on these factors, the Impulse System categorizes candles or price bars into three colors:
* Green Candle: When both the fast EMA and MACD are rising, indicating upward momentum.
* Red Candle: When both the fast EMA and MACD are declining, suggesting downward momentum.
* Blue Candle: In all other cases where the conditions for green or red candles are not met, representing a neutral or uncertain market condition.
By applying the Impulse System, traders can gain insights into the market trend, its strength, and potential shifts in momentum, helping them make informed trading decisions.
Happy Trading
Moving Averages
Advanced Exponential Smoothing Indicator (AESI) [AstrideUnicorn]The Advanced Exponential Smoothing Indicator (AESI) provides a smoothed representation of price data using the exponential smoothing technique. It helps traders identify the overall trend and potential reversal points in the market.
SETTINGS
Length: The number of periods used for the calculation of the exponential moving average (EMA). Higher values provide a smoother result but may lag behind price movements.
Alpha: The smoothing factor that determines the weight of the recent price data in the smoothing calculation. Higher values give more weight to recent data, resulting in a more responsive indicator.
Cloud Mode: Determines whether to display a cloud between the AESI line and the EMA line. When enabled, the cloud represents bullish (green) and bearish (red) market conditions.
HOW TO USE
The AESI indicator consists of a single line that represents the advanced exponential smoothing of the price data. It aims to provide a smoother version of the price series, reducing noise and revealing the underlying trend.
Bullish Condition: When the AESI line is above the EMA line, it indicates a bullish market condition. Traders may consider looking for buying opportunities or holding onto existing long positions.
Bearish Condition: When the AESI line is below the EMA line, it suggests a bearish market condition. Traders may consider looking for selling opportunities or holding onto existing short positions.
Optional Cloud Mode:
Enabling the cloud mode allows you to visualize bullish and bearish market conditions more clearly. The cloud appears between the AESI line and the EMA line, providing a visual representation of the prevailing market sentiment.
Bullish Cloud: When the AESI line is above the EMA line, the cloud is green, indicating a potential bullish market condition.
Bearish Cloud: When the AESI line is below the EMA line, the cloud is red, indicating a potential bearish market condition.
Note: The AESI indicator is most effective when used in conjunction with other technical analysis tools and indicators to confirm trading signals and make informed trading decisions.
Adjusting the Parameters:
You can adjust the Length and Alpha parameters to find the best ones for different timeframes and market conditions. Experimenting with different parameter values can help you find the optimal settings for your trading strategy.
It is recommended to backtest the AESI indicator on historical price data and evaluate its performance before using it in live trading. Remember that no indicator can guarantee profitable trades, and it is important to use risk management techniques and exercise caution when making trading decisions.
REVE Cohorts - Range Extension Volume Expansion CohortsREVE Cohorts stands for Range Extensions Volume Expansions Cohorts.
Volume is divided in four cohorts, these are depicted in the middle band with colors and histogram spikes.
0-80 percent i.e. low volumes; these get a green color and a narrow histogram bar
80-120 percent, normal volumes, these get a blue color and a narrow histogram bar
120-200 percent, high volume, these get an orange color and a wide histogram bar
200 and more percent is extreme volume, maroon color and wide bar.
All histogram bars have the same length. They point to the exact candle where the volume occurs.
Range is divided in two cohorts, these are depicted as candles above and below the middle band.
0-120 percent: small and normal range, depicted as single size, square candles
120 percent and more, wide range depicted as double size, rectangular candles.
The range candles are placed and colored according to the Advanced Price Algorithm (published script). If the trend is up, the candles are in the uptrend area, which is above the volume band, , downtrend candles below in the downtrend area. Dark blue candles depict a price movement which confirms the uptrend, these are of course in the uptrend area. In this area are also light red candles with a blue border, these depict a faltering price movement countering the uptrend. In the downtrend area, which is below the volume band, are red candles which depict a price movement confirming the downtrend and light blue candles with a red border depicting price movement countering the downtrend. A trend in the Advanced Price Algorithm is in equal to the direction of a simple moving average with the same lookback. The indicator has the same lagging.as this SMA.
Signals are placed in the vacated spaces, e.g. during an uptrend the downtrend area is vacated.
There are six signals, which arise as follows:
1 Two blue triangles up on top of each other: high or extreme volume in combination with wide range confirming uptrend. This indicates strong and effective up pressure in uptrend
2 Two pink tringles down on top of each other: high or extreme volume in combination with wide range down confirming downtrend. This indicates strong and effective down pressure in downtrend
3 Blue square above pink down triangle down: extreme volume in combination with wide range countering uptrend. This indicates a change of heart, down trend is imminent, e.g. during a reversal pattern. Down Pressure in uptrend
4 Pink square below blue triangle up: extreme volume in combination with wide range countering downtrend. This indicates a change of heart, reversal to uptrend is imminent. Up Pressure in downtrend
5 single blue square: a. extreme volume in combination with small range confirming uptrend, b. extreme volume in combination with small range countering downtrend, c. high volume in combination with wide range countering uptrend. This indicates halting upward price movement, occurs often at tops or during distribution periods. Unresolved pressure in uptrend
6 Single pink square: a extreme volume in combination with small range confirming downtrend, b extreme volume in combination with small range countering uptrend, c high volume in combination with wide range countering downtrend. This indicated halting downward price movement. Occurs often at bottoms or during accumulation periods. Unresolved pressure in downtrend.
The signals 5 and 6 are introduced to prevent flipping of signals into their opposite when the lookback is changed. Now signals may only change from unresolved in directional or vice versa. Signals 3 and 4 were introduced to make sure that all occurrences of extreme volume will result in a signal. Occurrences of wide volume only partly lead to a signal.
Use of REVE Cohorts.
This is the indicator for volume-range analyses that I always wanted to have. Now that I managed to create it, I put it in all my charts, it is often the first part I look at, In my momentum investment system I use it primarily in the layout for following open positions. It helps me a lot to decide whether to close or hold a position. The advantage over my previous attempts to create a REVE indicator (published scripts), is that this version is concise because it reports and classifies all possible volumes and ranges, you see periods of drying out of volume, sequences of falter candles, occurrences of high morning volume, warning and confirming signals.. The assessment by script whether some volume should be considered low, normal, high or extreme gives an edge over using the standard volume bars.
Settings of REVE Cohorts
The default setting for lookback is ‘script sets lookback’ I put this in my indicators because I want them harmonized, the script sets lookback according to timeframe. The tooltip informs which lookback will be set at which timeframe, you can enable a feedback label to show the current lookback. If you switch ‘script sets lookback’ off, you can set your own preferred user lookback. The script self-adapts its settings in such a way that it will show up from the very first bar of historical chart data, it adds volume starting at the fourth bar.
You can switch off volume cohorts, only range candles will show while the middle band disappears. Signals will remain if volume is present in the data. Some Instruments have no volume data, e.g. SPX-S&P 500 Index,, then only range candles will be shown.
Colors can be adapted in the inputs. Because the script calculates matching colors with more transparency it is advised to use 100 percent opacity in these settings.
Take care, Eykpunter
[FC] Multi EMA Cross Alerts Fltered with RSI and StochThis script prints Green Dots and Red Dots on candle close using Faster EMA ( 5 ) and Slower EMA (10 ) filtering with RSI (50)+ Stochastic %K ( 20 to 80 ) Smoothning(3).
The idea behind is to you use dots for scalping on smaller timeframe(5) ,(10) etc but you can modify all values to better fit your needs.
Explaination for Green Dots and Red Dots:
---> Green dot : 5 Ema crosses above 10 Ema ( i.e faster EMA crosses above slower EMA which signals price is trying to move up
RSI value > 50 (filtering for quick move)
stoch %k value between 20 and 80 ( filtering to know there is leg left in the move and all movement is already not done)
---> Red dot : 5 Ema crosses below 10 Ema ( i.e faster EMA crosses above slower EMA which signals price is trying to move down
RSI value < 50 (filtering for quick move)
stoch %k value between 20 and 80 ( filtering to know there is leg left in the move and all movement is already not done)
Banana RSIBanana RSI is not just ap-PEAL-ing to the eyes!
This simple little indicator provides a New Approach to determining Overbought and Oversold levels, as well as taking advantage of a non-typical smoothing method for this type of indicator.
Banana RSI uses a Cumulative High and Low Average to draw the upper, lower, and midline.
The High and Low Averages use the data only from above or below the Cumulative Average to calculate their respective line.
In simpler terms:
The High average is an average of every value ABOVE the full average.
The Low average is an average of every value BELOW the full average.
This creates an automated method to determine overbought and oversold territory based on the charts historical movement.
Since every chart can be different, these levels change with the chart.
Banana RSI also uses a linear regression smoothing method , by taking advantage of the built-in Least Squares Moving Average, we are able to view a better reacting/less-lagging moving average.
Included are 2 Length-Adjustable LSMA lines to use however needed.
Using the Regression Lines along with the High & Low Averages provides a new view on the classic RSI indicator.
Enjoy!
Moving Average CandlesInspired by Ricardo Santos's " Multiple Moving Average Candle System V0" ()
This script plots 6 moving averages using the plotcandle function rather than the normal plot function. Result is a stylish indicator that shows moving average crossovers in a more visual way. Moving average type options available are , or Simple, Exponential, Hull, Relative, Volume Weighted, and Arnaud Legoux Moving Averages, Linear Regression Curve, and Median. Lengths for each can be set in settings along with selection specific parameters. Good for plotting/visualizing potential entry/exit points based on your preferred moving averages crossing over, or just as some eye candy.
Engulfing Pattern BUY and SELL SystemThis indicator is based on multiple parameters such as the Open, High, Low, and Close of candles. We add confluences such as SMMA crossovers, engulfing candles, and the number of pips that it has moved from it.
The main parameter is the DFS (Distance from SMMA). This will adjust the number of signals you'll get. This parameter is calculated based on the Open price of the signal bar and the 50 SMMA price. If the difference between these two values is greater than the input value, it will not be considered a signal.
The buy/sell signal consists of the following conditions:
1. Engulfing Candle based on conditions
2. SMMA crossover (21 and 50 periods)
3. For BUYS, the RSI value is greater than 49. For SELLS, the RSI value is less than 51.
4. Open price of the signal bar is less/greater than the 50 SMMA for SELLS/BUYS respectively.
5. DFS value is less than or equal to the input value
We recommend backtesting this on FX Pairs, and metals such as Gold. It is not well suited for Crypto or Indices.
TimeLy Moving Average - TMAHello traders, I'm Only Fibonacci.
With this indicator, you will see the averages according to the hourly, weekly and monthly price movements in many periods on the chart.
This will show you the moving average values of the price over different periods in a progressive manner on the chart that is open to you.
Options and Usage
To see the hourly average, your chart's time range must be less than or equal to 60 minutes, otherwise it will produce a NaN value.
In order to see the daily average, your chart must be open for any minute period or (even if the second is open, it must be greater than 6 seconds). Otherwise, it does not produce any value.
Your chart must be larger than the second chart to see the weekly average. In other words, you can see the weekly average with at least 1 minute chart open.
In order to see the monthly average, your chart time interval must be above 10 minutes, otherwise you will not be able to see data again.
Settings
You choose the moving average type and the time interval value you want to see from the indicator settings.
You can also select a source for moving averages.
Enjoy it, you can make improvements on it.
Please do not forget to comment for various bug reports.
FalconRed 5 EMA Indicator (Powerofstocks)Improved version:
This indicator is based on Subhashish Pani's "Power of Stocks" 5 EMA Strategy, which aims to identify potential buying and selling opportunities in the market. The indicator plots the 5 EMA (Exponential Moving Average) and generates Buy/Sell signals with corresponding Target and Stoploss levels.
Subhashish Pani's 5 EMA Strategy is a straightforward approach. For intraday trading, a 5-minute timeframe is recommended for selling. In this strategy, you can choose to sell futures, sell calls, or buy puts as part of your selling strategy. The goal is to capture market tops by selling at the peak, anticipating a reversal for profitable trades. Although this strategy may result in frequent stop losses, they are typically small, while the minimum target should be at least three times the risk taken. By staying aligned with the trend, significant profits can be achieved. Subhashish Pani claims that this strategy has a 60% success rate.
Strategy for Selling (Short Future/Call/Stock or Buy Put):
1. When a candle completely closes above the 5 EMA (with no part of the candle touching the 5 EMA), it is considered an Alert Candle.
2. If the next candle is also entirely above the 5 EMA and does not break the low of the previous Alert Candle, ignore the previous Alert Candle and consider the new candle as the new Alert Candle.
3. Continue shifting the Alert Candle in this manner. However, when the next candle breaks the low of the Alert Candle, take a short trade (e.g., short futures, calls, stocks, or buy puts).
4. Set the stop loss above the high of the Alert Candle, and the minimum target should be 1:3 (at least three times the stop loss).
Strategy for Buying (Buy Future/Call/Stock or Sell Put):
1. When a candle completely closes below the 5 EMA (with no part of the candle touching the 5 EMA), it is considered an Alert Candle.
2. If the next candle is also entirely below the 5 EMA and does not break the high of the previous Alert Candle, ignore the previous Alert Candle and consider the new candle as the new Alert Candle.
3. Continue shifting the Alert Candle in this manner. However, when the next candle breaks the high of the Alert Candle, take a long trade (e.g., buy futures, calls, stocks, or sell puts).
4. Set the stop loss below the low of the Alert Candle, and the minimum target should be 1:3 (at least three times the stop loss).
Buy/Sell with Additional Conditions:
An additional condition is added to the buying/selling strategy:
1. Check if the closing price of the current candle is lower than the closing price of the Alert Candle for selling, or higher than the closing price of the Alert Candle for buying.
- This condition aims to filter out false moves, potentially preventing entering trades based on temporary fluctuations. However, it may cause you to miss out on significant moves, as you will enter trades after the candle closes, rather than at the breakout point.
Note: According to Subhashish Pani, the recommended timeframe for intraday buying is 15 minutes. However, this strategy can also be applied to positional/swing trading. If used on a monthly timeframe, it can be beneficial for long-term investing as well. The rules remain the same for all types of trades and timeframes.
If you need a deeper understanding of this strategy, you can search for "Subhashish Pani's (Power of Stocks) 5 EMA Strategy" on YouTube for further explanations.
Note: This strategy is not limited to intraday trading and can be applied to positional/swing
SMMA Bounce IndicatorThis indicator Looks for continuous retracements from Smoothed Moving Average periods of the user's choosing. This can be helpful in locating reversals and pullbacks with a quick glance. With this indicator, you have plenty of options to cater to your time period of choice as well as the freedom to change to colors that best suit your chart. This script was made in whole by SirvivalFX and utilized the (Built-in Script) "Smoothed Moving Average" with inspirations from rmunoz's Engulfing Candle Indicator. *DISCLAIMER*- This should be used with a plethora of knowledge and tools to work effectively and should not be used as a surefire trading tactic. You may use and alter this script in any form you like! :)
Major and Minor Trend Indicator by Nikhil34aScript Description:
This script is designed to provide a visual indication of the major and minor trends of an asset, along with potential buy and sell signals. It calculates two Simple Moving Averages (SMA): a longer-term 200-period SMA (Major SMA) and a shorter-term 20-period SMA (Minor SMA). The script determines whether the asset's closing price is above or below these moving averages to identify the major and minor trends. It also detects potential buying and selling opportunities based on the intersection of the asset's price with the SMA lines.
Usefulness:
This script can be useful for traders and investors who follow trend-based strategies and want to monitor the major and minor trends of an asset. By visually displaying the trends and potential buy and sell signals, it helps traders make informed decisions about entering or exiting positions.
Simple Explanation on BTC Chart:
In the context of a BTC chart, let's consider the following scenario:
BTC is currently trading above the 200-period SMA (Simple Moving Average), which is located at 29,059.
BTC is trading below the 20-period SMA, positioned at 30,178.
The current price of BTC is 29,916.
Based on this information, we can conclude that:
The major trend is bullish since BTC is trading above the 200-period SMA.
The minor trend is bearish as BTC is trading below the 20-period SMA.
The intersection of the price with the moving averages indicates a potential selling opportunity.
Traders using this script would observe that BTC is in a bullish major trend, a bearish minor trend, and there is a possibility of a sell signal. They may consider these factors when making trading decisions, such as adjusting their positions or taking profits.
Remember to conduct your own analysis and consider additional factors before making any trading decisions.
Trendilo LSMA Band ExampleThe "Trendilo LSMA Example" indicator is a technical analysis tool that combines two moving averages, the Linear Regression Moving Average (LSMA) and the Hull Moving Average (HMA), to provide insights into market trends.
The indicator plots a line on the price chart, which represents the combined values of the LSMA and HMA. This line changes color based on the direction of the trend. When the line is green, it suggests an upward trend, indicating that prices may continue to rise. Conversely, when the line is red, it suggests a downward trend, indicating that prices may continue to fall. If the line is yellow, it suggests a neutral or sideways trend, indicating that prices may be moving within a range without a clear trend.
Traders can customize the indicator by adjusting the input parameters. The "LSMAlen" parameter determines the length of the LSMA, the "LSMA Offset" parameter sets the offset for the LSMA, and the "LSMA Smoother" parameter controls the smoothing factor. Additionally, the "HMAlen" parameter determines the length of the HMA.
By using the Trendilo LSMA Example indicator, traders can get a visual representation of the market trend and use it to make informed trading decisions. Green indicates a potential buying opportunity, red suggests a potential selling opportunity, and yellow suggests a period of uncertainty where it may be prudent to wait for a clearer trend signal.
[DisDev] D-I-Y Gridbot🟩 This script is a “do-it-yourself” Grid Bot Simulator, used for visualizing support and resistance levels. Prices are divided into grids, or trade zones, that will trigger signals each time a new zone is entered. During ranging markets, each transaction is followed by a “take profit.” As the market starts to trend, transactions are stacked (compare to DCA ), until the market consolidates. No signals are triggered above the upper gridline or below the lower gridline. Unlike the previous version, all grids may be adjusted in real-time by dragging the gridlines up and down to the desired support and resistance levels.
When adding the indicator to a new chart, you must choose six grid levels by clicking on the desired support or resistance price. You can change all of these levels at any time directly on the chart.
⚡ OVERVIEW ⚡
The D-I-Y Gridbot is an interactive tool designed for visualizing support and resistance levels. As a continuation of the original Gridbot Simulator , which has received significant recognition on TradingView, earning over 4000 boosts and an Editor's Pick status. This tool serves not only as an evolved version of its predecessor, but also as an open-source template for developing future gridbots. It aims to foster discussions and facilitate innovations around grid-trading strategies.
One of the new features of this gridbot is the real-time adjustability of all gridlines. Users can move these lines up and down to set their desired support and resistance levels in response to changing market conditions. Additionally, the D-I-Y Gridbot is compatible with multiple timeframes and can be used on most TradingView charts.
Drag gridlines up or down to desired price level.
Key Features 🔑
All gridlines are adjustable in real-time, directly on the chart
Signals can be filtered by a customizable moving average or by VWAP
Customizable support and resistance levels
Potentially increases profitability in ranging markets
Benefits 💸
Customizable Support and Resistance Levels : The D-I-Y Gridbot allows users to set their preferred support and resistance levels, which can be changed at any time directly on the chart. This provides users with the ability to customize their trading parameters based on their strategy and risk tolerance.
Various Trading Strategies : The D-I-Y Gridbot supports various trading strategies, including Mean Reversion, Ranging Markets, and Dollar-cost averaging (DCA). This allows users to capitalize on price reversals, execute buy and sell orders at predetermined levels, and buy more of an asset as the price falls, respectively.
Multi-Timeframe and Versatility : The D-I-Y Gridbot is compatible with multiple timeframes and can be used on any TradingView chart.
Experimental and Educational : The D-I-Y Gridbot is considered a proof-of-concept tool that is both experimental and educational. This can provide traders with a deeper understanding of grid trading strategies and the ability to experiment with different trading parameters and strategies.
⚙️ CONFIGURATION & SETTINGS ⚙️
Inputs 🔧
Trigger : Candle location to trigger the signal. "Wick" will use either high or low, depending on the signal direction. "Close" will use the close price. “MA” will use the selected moving average or VWAP.
Confirmation : Market direction to confirm the candle trigger. "Reverse" will confirm the signal when the price crosses back over the trigger. "Breakout" will confirm when the price breaks out of the trigger.
Number of Support/Resistance zones : 1 = Only Top Grid is Support/Only Bottom Grid is Resistance. 2 = Top two grids are Resistance/Bottom two grids are Support. 3 = Top three grids are Resistance/Bottom three grids are Support
MA Type : Exponential Moving Average (EMA), Hull Moving Average (HMA), Simple Moving Average (SMA), Triple Exponential Moving Average (TEMA), Volume Weighted Moving Average (VWMA), Volume Weighted Average Price (VWAP)
MA Filter : Use Moving Average as a reversion filter for signals. When enabled, no buys when above MA, no sells when below. Use in conjunction with S/R zones to reduce false signals.
Allow Repeat Signals . When enabled, signals will reset when nearest gridline is triggered. When disabled, only one signal will be triggered per gridline.
Line/Fill colors
Gridlines . Adjusts gridline prices manually.
Left : Trigger = Wick. Confirm = Breakout. Buys are signaled when LOW breaks below gridline. Sells are triggered when HIGH breaks above gridline.
Right : Trigger = Close. Confirm = Breakout. Buys are signaled when the candle CLOSES below the gridline. Sells are triggered when the candle CLOSES above the gridline.
Left : Confirm=Breakout. Signals on breaking through the next gridline.
Right : Confirm=Reverse. Signals only when crossing back from the gridline.
S/R Zones=1. Upper gridline is Resistance / Lower is Support. Middle 4 are neutral.
S/R Zones = 3. Upper three gridlines are Resistance / Lower three are Support
Notes:
If gridlines are dragged out of order on a live chart, they will auto-sort into the correct order.
Price levels may be entered in settings, or adjusted in real-time directly on the chart.
When changing symbols, remember to adjust the gridlines to accommodate the new symbol.
Alerts 🔔
Users can set alerts based on their chosen parameters for triggers, confirmations, number of support/resistance zones, and smoothing type, enabling precise control over alert conditions.
💡 USAGE & STRATEGY 💡
Trading Strategies 📈
Mean Reversion: The script can be used to capitalize on price reversals back to the mean.
Ranging Markets: The script excels in ranging markets, executing buy and sell orders at predetermined levels.
Dollar-cost averaging (DCA): The script can be used to execute DCA orders, buying more of an asset as the price falls, and lowering the average cost per unit.
Timeframes and Symbols ⌚
Multi-Timeframe: The indicator is compatible with multiple timeframes.
Versatile: Can be used on any crypto trading pair on TradingView.
🤖 DETAILS & METHODOLOGY 🤖
Algorithm and Calculation 🛡️
Grids are set and adjusted when loading the indicator on the chart and may be customized anytime afterward by clicking and dragging the gridlines on the chart.
Gridlines are updated, sorted, and stored in a float array.
Signals are calculated based on candle trigger, market direction, and previous price level.
📚 ADDITIONAL RESOURCES 📚
Chart Examples 📊
S/R Zones = 3: Three Support and Three Resistance. Filter = 50-period Triple Exponential Moving Average (TEMA)
S/R Zones = 1: One Support, One Resistance, and Four Neutral Zones. Support Zones: Buys only. Resistance Zones: Sells only. Neutral Zones: Grid-dependent
When MA filter is enabled, Buys are only triggered below Moving Average, and Sells are only triggered above.
Trigger = Wick. Confirmation = Breakout. Buys are signaled when Low breaks above the next grid level. Sells are signaled when High breaks below the next grid level.
🚀 CONCLUSION 🚀
The D-I-Y Gridbot is a proof-of-concept, emphasizing its experimental and educational nature. In future versions, we will aim to incorporate concepts such as auto-adjusting grids and angled grids for trending markets. The script is designed to evolve through user feedback and suggestions, shaping its future iterations.
Credit: This is a continuation of the Gridbot series by xxattaxx-DisDev . Explicit permission was granted by user xxattaxx-disdev to re-use all Gridbot code and all materials without restrictions.
⚠️ DISCLAIMER ⚠️
This indicator is a proof-of-concept and is considered experimental and educational. When gridlines are drawn in hindsight, signals appear to be predictive and valid. Future results may always vary when the trend direction changes. Comments and suggestions are encouraged.
This indicator is provided as a tool for traders and should not be used as the sole basis for making trading decisions. Always conduct your own research and consider your risk tolerance before entering any trades.
Range Weighted Moving Average (RWMA)The Range Weighted Moving Average (RWMA) :
The Range Weighted Moving Average (RWMA) is a variation of the traditional moving average that incorporates the price range within each period as a weighting factor.
It assigns higher weights to periods with larger price ranges, aiming to provide a moving average that responds more dynamically to changes in price range and volatility.
Compared to a normal Simple Moving Average (SMA) or Exponential Moving Average (EMA), the RWMA offers several potential advantages:
Why do i think its better than Normal SMA , EMA ?
Increased Sensitivity: The RWMA reacts faster to changes in price compared to traditional moving averages. By incorporating the price range, which represents the volatility of each period, the RWMA gives more importance to periods with larger price ranges. This increased sensitivity can help traders identify price movements and trends more quickly.
Adaptive to Volatility: The RWMA adjusts dynamically to changes in market volatility. During periods of high volatility, the RWMA places more weight on those periods, capturing and reflecting the increased price movements. This adaptability allows the RWMA to be responsive to different market conditions and better capture significant price swings.
Filtering Potential: The RWMA can be utilized as a filtering tool in trading strategies. By using the RWMA as a trend indicator or filter, traders can focus on trades that align with the direction indicated by the RWMA. This filtering mechanism can help eliminate trades that go against the prevailing momentum, potentially improving the overall quality of trade entries.
Pullback WarningThe Pullback Warning indicator is a simple indicator that highlights the potential for a market pullback, by measuring distances between certain key moving averages.
John Pocorobba recently shared in his general market updates, research showing that when the distance between the closing price and the 9 day exponential moving average is greater than the distance between the 9 day exponential moving average and the 20 day exponential moving average a pullback is likely.
While this condition occurs frequently, I added sensitivity options to try and filter out the noise. The sensitivity is based on the closing price’s extension from the 50 day simple moving average. Depending on your level of sensitivity, only signals that occur when price is extended either 5, 6, or 7 percent away from the 50 sma will be plotted.
Choose how to see the signal:
Highlight Background
Plot a symbol at desired location
Note this signal works best on indexes, not individual securities.
Volume Spike, Price Move >3% Spike with Vol & Gap Up IdentifierTitle: Identifying Volume Spikes, Price Movements and Gap Ups: A TradingView Script
Introduction:
In the world of trading, identifying volume spikes and price movements can provide valuable insights into market trends and potential trading opportunities. In this article, we'll explore a TradingView script that helps traders visualize volume spikes, price up moves with volume spikes, and gap-up days on their charts.
Detecting Price Up Moves:
The script starts by calculating price up moves. It compares the current day's closing price with the previous day's closing price and checks if it has increased by 3% or more. This helps traders spot significant upward price movements.
Detecting Volume Spurts:
Next, the script focuses on detecting volume spikes, which are often associated with increased market activity and potential trading opportunities. It compares the current day's volume with the highest volume of the previous nine sessions. If the current volume exceeds all the volumes of the previous nine sessions, it is considered a volume spurt.
Example:
Let's consider a hypothetical scenario where we have the following volume data for a stock:
Day 1: 100,000
Day 2: 80,000
Day 3: 120,000
Day 4: 150,000
Day 5: 200,000
Day 6: 90,000
Day 7: 110,000
Day 8: 130,000
Day 9: 140,000
Day 10: 250,000 (current day)
To determine if there is a volume spurt on Day 10, the script compares the current day's volume (250,000) with the highest volume of the previous nine sessions. In this case, the highest volume among the previous nine sessions is 200,000 (on Day 5). Since the current day's volume (250,000) exceeds the highest volume of the previous nine sessions (200,000), it is considered a volume spurt.
Identifying Gap-Up Days:
Gap-up days occur when the market opens significantly higher than the previous day's close. To identify these days, the script compares the current day's low price with the previous day's high price. If the low price is greater than the previous day's high, it is marked as a gap-up day.
Visualizing the Findings:
To provide a clear visual representation of the identified patterns, the script uses different shapes and colors. First, it plots small red dots above the candles whenever a volume spurt is detected. These dots help traders quickly identify periods of increased volume activity.
For price up moves with volume spikes, the script utilizes blue triangular shapes below the candles. This allows traders to pinpoint instances where both price and volume are showing positive signs, indicating potential bullish movements.
Additionally, the script incorporates green candles to represent gap-up days. These candles help traders recognize days when the market opens with a significant upward gap, suggesting a potential shift in market sentiment.
Conclusion:
The TradingView script discussed in this article provides traders with a visual representation of volume spikes , price up moves with volume spikes , and gap-up days . By incorporating these visual cues into their analysis, traders can gain valuable insights into market trends and potential trading opportunities.
Remember, this script should be used for educational and informational purposes only and does not serve as financial advice or recommendations. Traders are encouraged to customize and modify the script according to their specific trading strategies and risk tolerance.
Share this script with other traders on TradingView to enhance their chart analysis and trading decisions.
PS: This TradingView script is designed to work specifically on the daily timeframe (daily candles). It calculates and identifies volume spurts based on the volume data of the daily timeframe. Since it is designed for the daily timeframe, it may not produce accurate results or work as intended on other timeframes.
Parabolic SAR + EMA 200 + MACD SignalsParabolic SAR + EMA 200 + MACD Signals Indicator, a powerful tool designed to help traders identify optimal entry points in the market.
This indicator combines three popular technical indicators: Parabolic SAR (Stop and Reverse), EMA200 (Exponential Moving Average 200) and MACD (Moving Average Convergence Divergence) - to provide clear and concise buy and sell signals based on market trends.
The MACD component of this indicator calculates the difference between two exponentially smoothed moving averages, providing insight into the trend strength of the market. The Parabolic SAR component helps identify potential price reversals, while the EMA200 acts as a key level of support and resistance, providing additional confirmation of the overall trend direction.
Whether you're a seasoned trader or just starting out, the MACD-Parabolic SAR-EMA200 Indicator is a must-have tool for anyone looking to improve their trading strategy and maximize profits in today's dynamic markets.
Buy conditions
The price should be above the EMA 200
Parabolic SAR should show an upward trend
MACD Delta should be positive
ُSell conditions
The price should be below the EMA 200
Parabolic SAR should show an downward trend
MACD Delta should be negative
Bollinger Bands Lab - by InFinitoVariation of the Moving Average Lab that includes Bollinger Bands functionality for any manually created Moving Average. It includes:
- Standard Deviations for any MA
- Fixed Symmetrical Deviations for any MA that remain at a constant % away from the MA
- The same Moving Average creation settings from the Moving Average Lab
"The Moving Average Lab allows to create any possible combination of up to 3 given MAs. It is meant to help you find the perfect MA that fits your style, strategy and market type.
This script allows to average, weight, double and triple multiple types and lengths of Moving Averages
Currently supported MA types are:
SMA
EMA
VWMA
WMA
SMMA (RMA)
HMA
LSMA
DEMA
TEMA
Features:
- Double or Triple any type of Moving Average using the same logic used for calculating DEMAs and TEMAs
- Average 2 or 3 different types and lengths of Moving Average
- Weight each MA manually
- Average up to 3 personalized MAs
- Average different Moving Averages with different length each "
The preview screenshot shows:
- The combination of:
- 200 LSMA - Weight: 1
- 200 HMA - Weight: 2
- 200 VWMA - Weight: 1 - Double
- The regular Bollinger Band setting, 2 standard deviations
- Two fixed symmetrical deviations at 15% and 20% away from the XMA
Normalized Volume Rate of ChangeThis indicator is designed to help traders gauge changes in volume dynamics and identify potential shifts in buying or selling pressure. By normalizing the volume rate of change and comparing it to moving averages of itself, it offers valuable insights into market trends and can assist in making informed trading decisions.
Calculation:
The indicator calculates the Volume Rate of Change (VROC) by measuring the percentage change in volume over a specified length. This calculation provides a relative measure of how quickly the volume is increasing or decreasing. It then normalizes the VROC to a range of -1 to +1 by scaling it based on the highest and lowest values observed within the specified length. This normalization allows for easy comparison of the current VROC value with historical levels, enabling traders to assess the intensity of volume fluctuations.
Interpretation:
The main plot of the indicator displays the normalized VROC values as columns. The color of each column provides valuable information about the relationship between the VROC and the moving averages. Lime-colored columns indicate that the VROC is above both moving averages, suggesting increased buying pressure and potential bullish sentiment. Conversely, fuchsia-colored columns indicate that the VROC is below both moving averages, suggesting increased selling pressure and potential bearish sentiment. Yellow-colored columns indicate that the VROC is between the two moving averages, reflecting a period of consolidation or indecision in the market.
To further enhance interpretation, the indicator includes two moving averages. The Aqua line represents the faster moving average (MA1), and the Orange line represents the slower moving average (MA2). These moving averages provide additional context by smoothing out the VROC values and highlighting the overall trend. Traders can observe the interaction between the moving averages and the VROC to identify potential crossovers and assess the strength of trend reversals or continuations.
Colors:
-- Lime : The lime color is used to represent high volume rate of change above both moving averages. This color indicates a potentially bullish market sentiment, suggesting that buyers are dominant.
-- Fuchsia : The fuchsia color is used to represent low volume rate of change below both moving averages. This color indicates a potentially bearish market sentiment, suggesting that sellers are dominant.
-- Yellow : The yellow color is used to represent the volume rate of change between the two moving averages. This color reflects a transitional phase where neither buyers nor sellers have a clear advantage, signaling a period of consolidation or indecision in the market.
To provide additional visual cues for potential trade signals, the indicator includes lime-colored arrows below the price chart when there is a crossover upwards (MA1 crossing above MA2). This lime arrow indicates a potential bullish signal, suggesting a favorable time to consider long positions. Similarly, fuchsia-colored arrows are displayed above the price chart when there is a crossover downwards (MA1 crossing below MA2), signaling a potential bearish signal and suggesting a favorable time to consider short positions.
Applications:
This indicator offers various applications in trading strategies, including:
-- Trend Identification : By observing the relationship between the normalized VROC and the moving averages, traders can identify potential shifts in market trends. Lime-colored columns above both moving averages indicate a strong bullish trend, suggesting an opportunity to capitalize on upward price movements. Conversely, fuchsia-colored columns below both moving averages indicate a strong bearish trend, suggesting an opportunity to profit from downward price movements. Yellow-colored columns between the moving averages indicate a period of consolidation or uncertainty, signaling a potential trend reversal or continuation.
-- Confirmation of Price Moves : The indicator's ability to reflect volume dynamics in relation to the moving averages can help traders validate price moves. When significant price movements are accompanied by lime-colored columns (indicating high volume rate of change above both moving averages), it adds confirmation to the bullish sentiment. Similarly, fuchsia-colored columns accompanying downward price movements validate the bearish sentiment. This confirmation can enhance traders' confidence in the reliability of price moves.
-- Trade Timing : The indicator's moving average crossovers and the presence of arrows provide timing signals for trade entries and exits. Lime arrows appearing below the price chart signal potential long entry opportunities, indicating a bullish market sentiment. Conversely, fuchsia arrows appearing above the price chart suggest potential short entry opportunities, indicating a bearish market sentiment. These signals can be used in conjunction with other technical analysis tools to improve trade timing and increase the probability of successful trades.
Parameter Adjustments:
Traders can adjust the length of the VROC and the moving averages according to their trading preferences and timeframes. Longer VROC lengths provide a broader view of volume dynamics over an extended period, making it suitable for assessing long-term trends. Shorter VROC lengths offer a more sensitive measure of recent volume changes, making it suitable for shorter-term analysis. Similarly, adjusting the lengths of the moving averages can help adapt the indicator to different market conditions and trading styles.
Limitations:
While the indicator provides valuable insights, it has some limitations that traders should be aware of:
-- False Signals : Like any technical indicator, false signals can occur. During periods of low liquidity or in choppy markets, the indicator may generate misleading signals. It is essential to consider other indicators, price action, and fundamental analysis to confirm the signals before taking any trading actions.
-- Lagging Nature : Moving averages inherently lag behind the price action and volume changes. As a result, there may be a delay in the generation of signals and capturing trend reversals. Traders should exercise patience and avoid solely relying on this indicator for immediate trade decisions. Combining it with other indicators and tools can provide a more comprehensive picture of market conditions.
In conclusion, this indicator offers valuable insights into volume dynamics and trend analysis. By comparing the normalized VROC with moving averages, traders can identify shifts in buying or selling pressure, validate price moves, and improve trade timing. However, it is important to consider its limitations and use it in conjunction with other technical analysis tools to form a well-rounded trading strategy. Additionally, thorough testing, experimentation, and customization of the indicator's parameters are recommended to align it with individual trading preferences and market conditions.
DJ Soori Trading StrategyThe strategy combines three indicators: Exponential Moving Average (EMA), Weighted Moving Average (WMA), and Average Directional Index (ADX).
The EMA and WMA are used to track the average price over different time periods.
The ADX measures the strength of a trend in the market.
The strategy generates buy signals when the EMA is higher than the WMA and the ADX is above a certain threshold. It suggests a potential uptrend.
It generates sell signals when the EMA is lower than the WMA and the ADX is above the threshold. It suggests a potential downtrend.
The strategy also considers whether the ADX is rising or falling to indicate the strength of the trend.
The EMA, WMA, and ADX values are plotted on the chart.
Buy and sell signals are shown as labels on the chart, indicating "Buy (Strong)" or "Buy (Weak)" for buy signals, and "Sell (Strong)" or "Sell (Weak)" for sell signals.
MA Slope : New Method1 . Introduction
Hello, traders.
This indicator is designed to measure the slope of a moving average line.
I imagine many of you who use Pine Script have struggled with this; measuring the slope of a moving average line can be quite challenging.
Firstly, this is because while the x-axis is fixed to the 'number of candles', the price scale on the y-axis can be adjusted freely.
Secondly, while the concept of differentiation could simplify the measurement process, the resulting value will differ from the conventional derivative we are familiar with since 'delta x' is fixed to '1'.
Consequently, I've put a lot of thought into how to configure the x-axis and y-axis in order to measure a slope that aligns with our perception of 'slope'.
After some reflection, I, like many others, realized that many people measure the slope based on the pivot of the moving average line.
This indicator is the product of that reflection.
2. Description
A. Setting
First, select the moving average line for which you want to check the slope. While SMA is commonly used, T3 is set as the default because it best visualizes the slope.
If you check 'Show MA Slope Average Pivot Range?' in the input window, it displays the average of the recent 30 slope pivot highs and pivot lows.
In other words, it shows 'On average, this level of slope was produced in the recent 30 waves.'
B. Usage
A cross from 0 in the slope indicates a 'reversal in the slope of the curve', which is the most crucial value when observing the slope.
Thus, fundamentally, it's important to look at the points where the slope becomes "0". Furthermore, when the slope starts to curve after rising, it signifies a change in acceleration, suggesting an imminent slope reversal.
(Note that acceleration was omitted from the indicator representation due to its tendency to overly complicate the data.)
While a shorter length of the moving average line may provide more useful slope data for actual trading, a less smooth moving average line may cross around 0 too often, making it less useful.
Therefore, it's crucial to adjust the 'Smoothing Length' in the input values to find a value that you believe is appropriate.
3. Conclusion
I always contemplate how to find a value in Pine Script that is similar to the perceived slope.
I made this script thinking that it might be a novel approach, but there are still many areas that need improvement.
If you have any innovative ideas about the slope, please feel free to provide feedback anytime.
Thank you.
--------
1. 서론
트레이더 여러분 안녕하세요. 이 지표는 이동평균선의 기울기를 측정하는 지표입니다.
아마 파인스크립트를 다루는 많은 분들이 같은 고민을 하셨을 것 같은데, 이동평균선의 기울기를 측정하는 것은 매우 어렵습니다.
그 이유로 첫번째는 x축은 '캔들 갯수'로 고정되어있는 반면, y축의 가격 스케일은 유동적으로 바꿀 수 있기 때문입니다.
두번째로는, 미분 개념을 이용하면 훨씬 수월하게 구할 수 있을테지만, 델타x가 '1'로 고정되어있기 때문에 우리가 알고있는 미분과 다른 값이 나옵니다.
따라서 x축과 y축을 어떻게 하면 실제 우리가 인식하는 '기울기'에 가깝도록 구성할 수 있을지에 대해 고민해보았습니다.
고민해본 결과 저 역시 그러하고, 많은 사람들이 이동평균선의 피벗을 기준으로 기울기를 측정한다는 사실을 알게되었습니다.
이 지표는 그 고민의 결과물입니다.
2. 내용 설명
A. 셋팅
먼저, 기울기를 확인하고싶은 이동평균선을 선택해주세요.
일반적으로 SMA를 많이 보시겠지만, T3가 기울기로 표현할 때 가장 아름다운 모습이 나오기 때문에 기본 설정을 T3로 설정했습니다.
Input창에 있는 'Show MA Slope Average Pivot Range?'를 체크하면, 최근 30개의 기울기 피벗 하이와 피벗 로우의 평균을 보여줍니다.
즉, '평균적으로, 최근 30개의 파동에서는 이 정도의 기울기가 만들어졌다'라는 것을 보여줍니다
B. 사용법
기울기가 0에서 크로스 된다는 것은, "곡선의 기울기가 반전"된다는 것이기에 기울기를 봄에 있어서 가장 중요한 값입니다. 따라서 가장 기본적으로는, 기울기가 "0"이 되는 곳을 보는 것이 중요하고
또 기울기가 올라갔다 꺾이기 시작할 때는, 가속도가 바뀌고 있다는 뜻이므로, 곧 기울기가 반전될 것을 의미합니다.
(다만 가속도를 지표로 표현하기엔, 너무나도 데이터가 지저분해져서 생략하였습니다)
이동평균선의 길이를 짧게 할수록 더 실제 트레이딩에 유용한 기울기 데이터를 얻을 수 있으나,
부드럽지 못한 이동평균선은 기울기가 0 근처에서 크로스 되는 모습이 지나치게 많이 나올 것이기에 유용하지 않을 수 있습니다.
따라서, input값에 있는 'Smoothing Length'를 조절해가면서 자신이 생각하기에 맞는 값을 고르는 것이 중요합니다.
3. 맺음말
파인스크립트에서 어떻게하면 실제 인식하는 기울기와 유사한 값을 찾을 수 있을까를 항상 고민합니다. 나름 새로운 접근방법이라 생각해서 이렇게 스크립트로 만들었으나, 여전히 아쉬운 부분이 많이 존재합니다.
기울기에 대한 좋은 아이디어가 있다면 언제든 피드백 해주세요.
감사합니다.
MonkeyblackmailThis script consists of several sections. test it and tell me your concerns. a lot of more works will be done
Volume Accumulation : The first part of the script checks for a new 5-minute interval and accumulates the volume of the current interval. It separates the volume into buying volume and selling volume based on whether the closing price is closer to the high or low of the bar.
Volume Normalization and Pressure Calculation : The script then normalizes the volume with a 20-period EMA, and calculates buying pressure, selling pressure, and total pressure. These calculations provide insight into the underlying demand (buying pressure) and supply (selling pressure) conditions in the market.
RSI Calculation and Overbought/Oversold Conditions : The script calculates the RSI (Relative Strength Index) and checks whether it is in an overbought (RSI > 70) or oversold (RSI < 30) state. The RSI is a momentum indicator, providing insights into the speed and change of price movements.
Volume Condition Check and Wondertrend Indicator : The script checks if the volume is high for the past five bars. If it is, it applies the Wondertrend Indicator, which uses a combination of the Parabolic SAR (Stop and Reverse) and Keltner Channel to identify potential trends in the market.
Swing High/Low and Fibonacci Retracement : The script identifies swing high and swing low points using a specified pivot length. Then, it draws Fibonacci retracement levels between these swing high and swing low points.
he monkeyblackmail script works well in the 5 minutes chart and combines several elements of technical analysis, including volume analysis, momentum indicators, trend-following indicators, volatility channels, and Fibonacci retracements. It aims to provide a comprehensive view of the market condition, highlighting key levels and potential trends in an easily understandable format. Don’t be too quick to start trading with it, first study how it work and you will blackmail the market.
Tillson T3 Moving Average - ScreenerScreener version of Tillson T3 Moving Average:
The T3 Moving Average generally produces entry signals similar to other moving averages and, thus, is mainly traded in the same manner. Here are several assumptions:
Suppose the price action is above the T3 Moving Average, and the indicator is upward. In that case, we have a bullish trend and should only enter long trades (advisable for novice/intermediate traders). If the price is below the T3 Moving Average and edging lower, we have a bearish trend and should limit entries to short.
About Screener Panel:
Users can explore 20 different and user-defined tickers, which can be changed from the SETTINGS (shares, crypto, commodities...) on this screener version.
The screener panel shows up right after the bars on the right side of the chart.
Tickers seen in green are the ones that are in an uptrend, according to T3.
The ones that appear in red are those in the SELL signal, in a downtrend.
The numbers in front of each Ticker indicate how many bars passed after the last BUY or SELL signal of T3.
For example, according to the indicator, when BTCUSDT appears (3) in GREEN, Bitcoin switched to a BUY signal 3 bars ago.
-In this screener version of Tillson T3 Moving Average, users can define the number of demanded tickers (symbols) from 1 to 20 by checking the relevant boxes on the settings tab.
-All selected tickers can be screened in different timeframes.
-Also, different timeframes of the same Ticker can be screened.
IMPORTANT NOTICE:
Screener shows the results in 2 different logic:
-Screener shows the information about the color changes of the T3 Moving Average with default settings.
-Users can check the "Change Screener to show T3 & Price Flips" button to activate the screener giving information about price flips.
If this option is preferred, users are advised to enlarge the length to have better signals.
