*Predictive Volume + HTF [Free]*"Predictive Volume + HTF " is a predictor of real-time to near-future volume % change on the current chart and the next highest time frame. The script calculates the volume's % change (Pred Vol) between Current Volume vs. Previous Volume by predicting whether Pred Vol will be higher or lower at the end of the current bar using an "elapsed time" vs "volume so far" concept. This gives the benefit of the most up-to-date information without artificial low/high comparisons when a bar has just formed. For example, it would be common to see -100% in a lot of instances when a new bar is just forming which would be normal because volume at the start of a new candle will generally be lower than where it was when the last bar closed. Where this indicator shines is during this old to new bar formation and the volume that's carried over to the new bar. As a result, it will now be common to see Pred Vol values starting much higher because the calculation is dividing up the bar and analyzing fractions of it instead of the entire bar that would otherwise lead to these incorrect volume % change calculations.
A few examples of Predictive Volume % Change:
In addition, this indicator uses many advanced and dynamic features:
⚡ Matrices that create the table, allowing you to add and remove columns to customize the table to show only the information that's important to you
⚡ View 2 time frames at once - meaning every time you switch time frames, the table will auto-adjust to show the next highest time frame, or "HTF"
⚡ Header function that keeps you aware of the ticker, time frame and session that you're on at all times (can use in lieu of TV's watermark feature, or use together)
⚡ Timer that shows you when a bar will begin/end
⚡ Includes the following popular time frames: 1m, 3m, 5m, 10m, 15m, 30m, 1h, 2h, 4h, 8h, 1d, week, month
⚡ 3 "bias mode" choices that use Relative Volume (RVOL) from calculations between Current, Previous & Average Volume that provide a visual with varying degrees of color representing buying & selling momentum of your favorite asset. Traders generally have an innate bias when it comes to their trading methodology. Of course it can change quickly depending on current market structure. The script's author created separate modes to account for these biases. One way to utilize the indicator is to use 2 on your chart with 1 Bullish bias \"middle right\" and another Bearish bias \"lower right\" to see if volume pressure is skewed towards your particular bias by showing how many colored boxes there are on each table.
⏩ Standard - 🟢🔴 - displays green and red to depict volume momentum using same RVOL calculations as Bullish & Bearish modes
⏩ Bullish - 🐂🐂 - displays 5 colors to represent the levels of intensity of the Buy/Sell/RVOL data (light blue, green, yellow, light orange, dark orange)
⏩ Bearish - 🐻🐻 - displays 5 colors to represent the levels of intensity of the Buy/Sell/RVOL data (light red to dark purple)
Ex. of all 3 bias modes during a burst of bullish volume momentum:
Ex. of all 3 bias modes during a burst of bearish volume momentum:
⚡ 2 alert types: 1 bullish & 1 bearish with 2 levels for each
⏩ The PREDEFINED ALERTS consist of 2 Bullish & Bearish levels with Lvl 1 designed to be less sensitive than Lvl 2
⏩ Configurable for every time frame, "On Close" or "Each Bar". On Close could be a better choice on lower time frames so that you're not getting a bunch of triggers over a short duration & Each Bar could be a better option for higher time frames so that you don't miss a move mid bar for instance
⏩ Creating a PREDEFINED BULLISH/BEARISH ALERT saves a snapshot of the alert's settings. You can then change the settings and create another alert. In this way, you can create multiple unique alerts
⏩ Create one alert for any alert type (bull and/or bear), for every time frame all at once, or you can create multiple & separate alerts, giving each one a unique name with the time frame that it's for: ex. BTC - Bullish Vol Lvl1 (1m)
In this example, you'll see what causes the alerts to trigger as well as how to create them and how they'll look when they do fire.
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It is with a sense of gratitude, appreciation and indebtedness to the coder of this script ©SimpleCryptoLife that I'm able to present this indicator to you after months of hard work. We hope that you find it invaluable during your own trading journey! Should you have any questions, feedback or critiques please do not hesitate to leave a comment.
Multitimeframe
MTF Fair Value Gap [BigBeluga]The MTF Fair Value Gap (FVG) indicator provides multi-timeframe options to observe lower or higher gaps in different timeframes within your current one. This can enhance the confluence in your trading decisions.
🔶 USAGE
An FVG is formed when a candle has an 'empty' body, leaving a gap. These areas are often filled before the market continues to trend in its original direction.
In practical terms, FVGs serve to highlight support areas (bullish FVGs) and resistance zones (bearish FVGs). As a gap is filled, signaling the end of the existing imbalance, it tends to foreshadow an impending price reversal.
While this approach is inherently contrarian, individuals seeking a more trend-following strategy can opt to use FVG identification as straightforward signals. This entails taking a long position upon detecting a bullish FVG and adopting a short position in the presence of a bearish FVG.
🔹 Mitigation
The mitigation point is where the user selects when the FVG is considered filled or no longer usable.
Source => Choose the candle's low/high or close as the mitigation point.
Point => Choose the FVG's mitigation point to trigger after the candle's Source has filled it. Users can choose between the middle point or the top/bottom of the FVG.
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🔹 MTF
This script can display MTF FVGs from different timeframes while showing the current one. This is extremely useful as it avoids the need to switch timeframes frequently and can add significant confluence with the current FVG.
🔹 Threshold
The Threshold is an input to remove insignificant FVGs that are too small to be truly useful. Users can choose between:
Auto => Automatically remove unusable FVGs.
Manual => Set an automatic Threshold.
🔶 TIPS
Users can choose how many FVGs to display on the current chart for better visualization.
Users can choose which FVGs to display: only the current one, only MTF ones, or both.
Support and Resistance Signals MTF [LuxAlgo]The Support and Resistance Signals MTF indicator aims to identify undoubtedly one of the key concepts of technical analysis Support and Resistance Levels and more importantly, the script aims to capture and highlight major price action movements, such as Breakouts , Tests of the Zones , Retests of the Zones , and Rejections .
The script supports Multi-TimeFrame (MTF) functionality allowing users to analyze and observe the Support and Resistance Levels/Zones and their associated Signals from a higher timeframe perspective.
This script is an extended version of our previously published Support-and-Resistance-Levels-with-Breaks script from 2020.
Identification of key support and resistance levels/zones is an essential ingredient to successful technical analysis.
🔶 USAGE
Support and resistance are key concepts that help traders understand, analyze and act on chart patterns in the financial markets. Support describes a price level where a downtrend pauses due to demand for an asset increasing, while resistance refers to a level where an uptrend reverses as a sell-off happens.
The creation of support and resistance levels comes as a result of an initial imbalance of supply/demand, which forms what we know as a swing high or swing low. This script starts its processing using the swing highs/lows. Swing Highs/Lows are levels that many of the market participants use as a historical reference to place their trading orders (buy, sell, stop loss), as a result, those price levels potentially become and serve as key support and resistance levels.
One of the important features of the script is the signals it provides. The script follows the major price movements and highlights them on the chart.
🔹 Breakouts (non-repaint)
A breakout is a price moving outside a defined support or resistance level, the significance of the breakout can be measured by examining the volume. This script is not filtering them based on volume but provides volume information for the bar where the breakout takes place.
🔹 Retests
Retest is a case where the price action breaches a zone and then revisits the level breached.
🔹 Tests
Test is a case where the price action touches the support or resistance zones.
🔹 Rejections
Rejections are pin bar patterns with high trading volume.
Finally, Multi TimeFrame (MTF) functionality allows users to analyze and observe the Support and Resistance Levels/Zones and their associated Signals from a higher timeframe perspective.
🔶 SETTINGS
The script takes into account user-defined parameters to detect and highlight the zones, levels, and signals.
🔹 Support & Resistance Settings
Detection Timeframe: Set the indicator resolution, the users may examine higher timeframe detection on their chart timeframe.
Detection Length: Swing levels detection length
Check Previous Historical S&R Level: enables the script to check the previous historical levels.
🔹 Signals
Breakouts: Toggles the visibility of the Breakouts, enables customization of the color and the size of the visuals
Tests: Toggles the visibility of the Tests, enables customization of the color and the size of the visuals
Retests: Toggles the visibility of the Retests, enables customization of the color and the size of the visuals
Rejections: Toggles the visibility of the Rejections, enables customization of the color and the size of the visuals
🔹 Others
Sentiment Profile: Toggles the visibility of the Sentiment Profiles
Bullish Nodes: Color option for Bullish Nodes
Bearish Nodes: Color option for Bearish Nodes
🔶 RELATED SCRIPTS
Support-and-Resistance-Levels-with-Breaks
Buyside-Sellside-Liquidity
Liquidity-Levels-Voids
Quarterly Cycles [Daye's Theory]This is entirely based on quarters theory by Daye (@traderdaye in Twitter). I'm merely the creator of the indicator and full credits for the underlying concept goes to Daye.
The idea is to split year, month, week and day into quarters at specific times which lead to PO3 (Accumulation-Manipulation-Distribution) cycles within those quarters.
They present in one of these two forms:
Q1. (A)ccumulation - Consolidation
Q2. (M)anipulation - Judas Swing
Q3. (D)istribution - Low Resistance Liquidity Run
Q4. (X) - Continuation/Reversal of previous quarter
(OR)
Q1. (X) - Continuation/Reversal of previous quarter
Q2. (A)ccumulation - Consolidation
Q3. (M)anipulation - Judas Swing
Q4. (D)istribution - Low Resistance Liquidity Run
As of now, the indicator assumes everything as AMDX, but if some clever idea comes in the future, I'll try to implement XAMD as well.
Similar to True Day Opens, there are True Monthly Opens, True Weekly Opens and True Session Opens, all of which form during the second quarters of those periods, all of which are marked by the indicator. For timeframes in H1 and below, the indicator shows weekly, daily and session quarter cycle phases. For higher timeframes, it shows yearly, monthly and weekly cycle phases.
Double Supertrend HTF FilterDouble Supertrend HTF Filter: A Comprehensive Market Direction Tool
The Double Supertrend HTF Filter is an innovative tool designed for traders who seek a more holistic view of market trends. At its core, the indicator combines two Supertrends from different higher timeframes, providing a layered perspective on the market's direction. Instead of juggling between multiple timeframes or charts, traders get a consolidated view with this indicator. One of its standout features is the horizontal line at the bottom of the chart, which visually represents the alignment of the two Supertrends – a simple yet powerful way to gauge the combined sentiment of the two higher timeframes on your chart.
The Supertrend Indicator: Origins and Rationale
The Supertrend indicator, a popular tool among traders, was developed by Olivier Seban. At its essence, the Supertrend is a trend-following indicator, designed to identify and visualize the current market trend. It operates using average true range (ATR) values and price data, effectively smoothing out market noise to present clearer trend directions. When prices move with a consistent momentum upwards or downwards, the Supertrend remains below or above the price respectively, signaling the prevailing trend's direction. The rationale behind the Supertrend is its ability to adapt to price volatility. By factoring in the average true range, it dynamically adjusts itself, ensuring that it's not just based on price but also the inherent volatility of the market. This adaptability makes it a valuable tool for traders, offering insights into potential trend reversals and potential entry or exit points.
Filter Usage
The main idea behind the Double Supertrend HTF is to use the indicator as a filter in addition to a signal indicator to your liking. To illustrate, consider incorporating it with a MACD Oscillator, such as the one detailed in this article: When the solid line at the bottom of the chart turns green, it signals that both supertrends are up and thus allows for long positions, indicating a bullish sentiment across both the chosen higher timeframes. Conversely, a red line permits short positions, hinting at a bearish trend. Should the line turn yellow, it's a sign of caution. The market is indecisive, and it might be prudent to refrain from taking any trades until a clearer direction emerges.
Features of the Indicator
Understanding that traders have different preferences, the Double Supertrend HTF Filter comes with customizable features. With the easy user interface you can change the timeframe, ATR and factor to your preferred trading strategy. The default settings are set for the 30 minutes and 4 hour timeframe, which is my personal preference for scalping trades on lower timeframes (eg. 1min, 5 min, 10 min, 15 min). While the dual Supertrend lines offer valuable insights, a chart can become cluttered when combined with other indicators. Therefore, traders have the option to toggle on or off the display of the Supertrends. This ensures that you have the flexibility to maintain a clean chart view while still benefiting from the insights the tool provides at the bottom of the chart.
A Note on Usage
It's essential to highlight that the Double Supertrend HTF Filter is for educational purposes. While it offers a unique perspective on market trends and can be a valuable addition to a trader's toolkit, it's merely an example of how one can use the Supertrend as a filter. Always conduct thorough research and consider your trading strategy before making any decisions.
If you have any comments or ideas how to combine this filter with other indicators feel free to leave a comment.
ICT Clean Midnight [dR-Algo]
Are you a trader who values clean charts and precise indicators? Are you an avid follower of ICT Concepts? If so, the Midnight Marker is tailored for you. This ultra-simple, highly effective TradingView script draws a nearly transparent blue line at midnight on your chart, keeping your interface as clean as possible while delivering essential information.
Why is "ICT Clean Midnight" so Special?
Focus on Price Action: The minimalist design ensures that you can focus solely on price action, which is a core principle of ICT teachings.
Easy Back Testing: Whether you're trading live or back-testing strategies, the midnight marker helps you quickly identify key time points.
Customizable: Though designed to be subtle, the line's color and opacity can be easily customized to suit your charting needs.
This indicator embodies ICT's principle of maintaining a clutter-free, focus-driven trading environment. Perfect for both novice traders wanting to adopt ICT concepts and seasoned traders looking for minimalistic yet effective tools.
Multi Time Frame Composite BandsMulti Time Frame Composite Bands utilizes Fibonacci numbers (5, 8, 13, 21, 34) as period lengths for calculations. The indicator calculates a composite high line (C_high) by averaging the highest prices over Fibonacci periods, incorporating moving averages (SMA) of high prices for added refinement and smoothing. Similarly, a composite low line (C_low) is calculated by averaging the lowest prices with moving averages of low prices. The midline, obtained from the mean of C_high and C_low.
This band can function as volatility bands unlike traditional volatility indicators like Bollinger Bands , ATR bands it does not use traditional measures of volatility such standard deviation , ATR. This hugs closely to the price and during trending markets the some part of the candles stay outside the band and when the entire candle digress outside the band a price correction or reversal can be anticipated. This can be considered as a smoothed Donchian channel.
Realtime Daily High Low Half Quarter BoxOverview
This indicator offers real-time updates for daily high and low prices, addressing the issue of expanding plots in traditional daily high-low indicators.
It plots daily high, low, 1/2, and 1/4 price levels as horizontal lines.
It adds a vertical line at the center of the daily candle.
You can customize the indicator's background color for bullish and bearish days.
It extends horizontal lines until the daily candle switches.
This indicator is not compatible with second-by-second data.
Due to Pine Script's object drawing limitations, there is a restriction on how many days back the price lines can be drawn.
概要
このインジケーターは、従来の日足の高値・安値プロットの問題を解決し、リアルタイムでの更新を提供します。これにより、プロットが広がっていく現象が回避されます。
インジケーターは、日足の高値、安値、1/2、1/4の価格レベルを水平線で表示します。
一日の中央の時間に垂直線を追加します。
日足が陽線と陰線のいずれかに応じて、背景色をカスタマイズできます。
インジケーターは日足が切り替わるバーまで水平線を延長します。
このインジケーターは秒足データには対応していません。
Pine Scriptのオブジェクト描画数の制限により、価格ラインの描画が遡れる日数に制限があります。
HTF Oscillators RSI/ROC/MFI/CCI/AO - Dynamic SmoothingThe Interplay of Time Frames: A Balanced View
Navigating the markets often involves interpreting trends from multiple angles. The HTF Oscillators with Dynamic Smoothing indicator enables you to do just that. This tool provides the option to integrate smoothed oscillator readings from Higher Time Frames (HTF) into lower time frame charts, such as a 1-minute chart. By doing so, the indicator offers a balanced viewpoint that bridges the gap between micro and macro perspectives, helping you make informed decisions without losing sight of the broader market context.
Features
Multi-Oscillator Support
Choose from a range of popular oscillators like the Relative Strength Index (RSI), Rate of Change (ROC), Money Flow Index (MFI), Commodity Channel Index (CCI), and Awesome Oscillator (AO). These oscillators are commonly used as foundational building blocks in trading strategy scripts by traders worldwide. Switch effortlessly between them, depending on your trading strategy and requirements. To maintain consistency and a familiar user experience, our script adopts the same visual aesthetics that you'll find in Pine Script indicators on TradingView: a sleek purple line for the oscillator and a transparent band filling. These visual elements are not only pleasing to the eye but also widely appreciated by the trading community.
Dynamic Smoothing
The unique dynamic smoothing feature calculates a smoothing factor based on the ratio of minutes between the Higher Time Frame (HTF) and your current time frame. This provides a sleek and responsive oscillator line that still holds the weight of the longer trend. One of the significant advantages of this feature is user experience; when you change your time frame, the HTF-values in your settings will remain consistent. This ensures that you can easily switch between different time frames without losing the insights provided by your selected HTF.
Visual Aids
Visual cues are an essential part of any trading strategy. The indicator not only plots signals to mark overbought and oversold conditions based on the dynamically smoothed oscillator but also provides you with the flexibility to customize your visual experience. You have the option to toggle on/off the display of these signals depending on your specific needs. Additionally, bands can be displayed at overbought and oversold levels, along with a reference middle line. If you switch between different oscillators (available in the parameter settings), remember to manually adjust the bands in the input settings to ensure signals matches with the type of oscillator to your liking.
User-Friendly Settings
We've grouped related settings together, making it easier for you to find what you're looking for. Adjust the oscillator type, length of bars, smoothing settings, and more with just a few clicks.
Information Table
A standout feature of this indicator is the real-time information table, which displays the values of all selected oscillators based on your specified Higher Time Frame (HTF) settings. This can be particularly useful for traders who depend on multiple indicators for their decision-making process. The data presented in the table is synchronized with the HTF options you've configured in the input settings, allowing for a more efficient and quick scan of values from higher time frames.
Educational Corner: The Power of the Information Table and Customization
The table incorporated into this indicator isn't just eye-candy; it's a practical tool designed to elevate your trading strategy. It dynamically displays real-time values of various oscillators for the HTF you've chosen. This is an exemplary use of TradingView's scripting capabilities to blend multiple indicators into a single visual panel, streamlining your analysis and decision-making process.
But here's the best part: You're not limited to what we've created. With some basic understanding of TradingView's scripting language, Pine Script, you can easily adapt this table to include different indicators that suit your unique trading style. The logic in the script is modular and can serve as a foundation for your own customized trading dashboard. So, go ahead, get creative and explore new combinations of indicators that will help you excel in your trading endeavors!
You no longer have to toggle between different charts or indicators to get the information you need; it's all there in one neatly organized table. We encourage you to tap into this feature and make it your own, empowering your trading like never before.
By doing so, you not only gain a more comprehensive toolset, but you also engage more deeply with your trading strategy, understanding its nuances and, ultimately, making more informed decisions.
Conclusion
The HTF Oscillators with Dynamic Smoothing is a versatile and powerful tool that brings together the best of both worlds: the perspective of higher time frames and the granularity of shorter ones. Its feature-rich setting options and real-time information table make it a potential useful addition to your trading toolkit.
Remember, while this indicator offers a comprehensive and smarter way to look at the markets, it is not a foolproof method for predicting market movements. Always use it in conjunction with other analysis methods and risk management strategies.
SuperTrend ZoneThe SuperTrend Zone indicator is a tool designed to help traders identify the best zone to enter in a position revisiting the usage of the standard SuperTrend indicator.
In the settings you can chose the ATR length and the Factor of the indicator, and in addition to that you can also change the multiplier for the zone width.
This indicator provide two different SuperTrend indicator, the first one has the settings that you chose and display the zone, meanwhile the second one has double the parameters you have chosen and can be used to determine the long term trend direction.
TEWY - Magic Strength Indicator V2My goal is to equip every trader and investor with the essential tools necessary to confidently navigate the complexities of the financial markets, enabling them to consistently identify opportunities and maintain a position of strength on the winning side of their trades. This indicator stands as an immensely powerful tool, delivering a comprehensive and robust approach to market analysis and decision-making.
Allow me to provide some context regarding the genesis of this indicator. The global financial landscape encompasses a multitude of markets, ranging from the money market to the stock market, cryptocurrencies, commodities, and beyond. Often, these markets display proportional or inverse correlations, unveiling the intricate interplay between them. At the heart of this concept lies a meticulous comparison between a selected ticker and other analogous markets. This analytical approach serves as a pathway to unearthing invaluable insights and intricate patterns across interconnected sectors.
So, I created this indicator, to empower you with the capability to select and construct combinations of up to seven comparable markets and offer a comprehensive perspective on market dynamics.
Let me to elucidate the intricacies of this indicator and delve into its versatile configurations. By understanding its components and tailoring its settings, traders can harness its full potential to make informed and strategic trading decisions.
Related to indicator configuration sections
Section 1. 'PRIMARY AND SECONDARY INDEX' and Section 2. 'GLOBAL REFERENCE INDEX'
To utilize this indicator, begin by configuring at least one comparison indicator in the "Primary Index" field. Additional options include the secondary index (which can function as a sector index) and five global indices. Furthermore, you have the flexibility to adjust their timeframes, allowing for comparisons across various time horizons.
Section 3. ADVANCED FEATURS
Consider a scenario where you've pulled up a chart for "NSE:BANKNIFTY" and desire to assess the relative strength of "NSE:NIFTY" in comparison to global indices. To accomplish this, explore the Advanced Feature section and toggle the "Use Different Base Ticker" option to "Yes." Subsequently, input "NSE:NIFTY" as the symbol/ticker in the designated box. This ingenious feature empowers you to evaluate the strength of "NSE:NIFTY" the backdrop of the "NSE:BANKNIFTY" chart. The result? A remarkably potent analytical capability at your fingertips! The possibilities it offers are indeed remarkable!
Section 4. LINE AND BARCOLOR RELATED
I have dedicated considerable effort to scrutinize historical patterns within the strength indicator of various symbols. Through meticulous analysis, I've identified pivotal conditions that often herald shifts in market or symbol trends. Leveraging this insight, I've devised a system to determine optimal strength line colors and bar colors. This strategic approach adds a layer of precision to the indicator, enhancing its effectiveness in recognizing and visualizing trend changes.
Recognizing the prevailing tendency of global markets to exhibit more upward momentum than downward movement, I've taken into account this inherent "Long Bias." With this understanding in mind, I've incorporated a unique feature that aims to prompt an early transition from red to green bar colors when there's a potential indication of a trend reversal from a downtrend. By proactively signaling the shift in color dynamics, this feature aligns with the overall upward-leaning nature of the markets, enabling traders/investors to respond swiftly to potential changes in trend direction.
By employing the 'Use Simple Method of Calculation,' the determination of strength line color is executed through a straightforward crossover technique. This approach proves particularly effective in scenarios where inverse correlations exist between the symbols or tickers being compared. Additionally, an 'Inverse Scale' option is available, wherein a simple multiplication by -1 is applied to all values. This ingenious feature offers a convenient perspective on symbols or tickers that exhibit inverse correlations, further enhancing the indicator's adaptability to a wide array of market dynamics.
**** It's important to note that the 'Change Bar Color' option is intentionally set to the default selection of 'No.' By design, only when you opt to set it to 'Yes' do custom bar colors come into play on the chart. This thoughtful design choice acknowledges the potential need to preserve bar colors when seeking to discern inverse correlations between symbols. Should you require a modification in bar colors, kindly select 'Yes' to initiate this change and access the custom color functionality.
Section 5. LABELS
Moreover, to facilitate ease of use and organization, I've included a practical feature for instances where you deploy this indicator multiple times on a single chart. Within this context, should you wish to assign quick tags to each instance, a dedicated free-text box is at your disposal. This allows you to conveniently label and categorize different instances of the indicator, ensuring a streamlined and efficient approach to managing your chart analyses.
I encourage you all to embark on a rewarding journey in your trading and investing endeavors. With this indicator as your ally, equipped with its potent analytical capabilities, may your path be marked by well-informed decisions and prosperous outcomes. Wishing you every success in your trading and investment journey!
Should you have any inquiries or require further clarification regarding this indicator, please do not hesitate to reach out to me via direct message. I am here to provide you with the necessary guidance and support to ensure your experience with this tool is both seamless and enriching. Your understanding and satisfaction remain my utmost priority.
By TEWY - Trade Easy With Yogesh
I am Yogesh
MACD Bands - Multi Timeframe [TradeMaster Lite]We present a customizable MACD indicator, with the following features:
Multi-timeframe
Deviation bands to spot unusual volatility
9 Moving Average types
Conditional coloring and line crossings
👉 What is MACD?
MACD is a classic, trend-following indicator that uses moving averages to identify changes in momentum. It can be used to identify trend changes, overbought and oversold conditions, and potential reversals.
👉 Multi-timeframe:
This feature allows to analyze the same market data on multiple time frames, which can be in help to identify trends and patterns that would not be visible on a single time frame. When using the multi-timeframe feature, it is important to start with the higher time frame and then look for confirmation on the lower time frames. This will help you to avoid false signals. Please note that only timeframes higher than the chart timeframe is supported currently with this feature enabled. Might get updated in the future.
👉 Deviation bands to spot unusual volatility:
Deviation bands are plotted around the Signal line that can be in help to identify periods of unusual volatility. When the MACD line crosses outside of the deviation bands, it suggests that the market is becoming more volatile and a strong trend may form in that direction.
👉 9 Moving Average types can be used in the script. Each type of moving average offers a unique perspective and can be used in different scenarios to identify market trends.
SMA (Simple Moving Average): This calculates the average of a selected range of values, by the number of periods in that range.
SMMA (Smoothed Moving Average): This takes into account all data available and assigns equal weighting to the values.
EMA (Exponential Moving Average): This places a greater weight and significance on the most recent data points.
DEMA (Double Exponential Moving Average): This is a faster-moving average that uses a proprietary calculation to reduce the lag in data points.
TEMA (Triple Exponential Moving Average): This is even quicker than the DEMA, helping traders respond more quickly to changes in trend.
LSMA (Least Squares Moving Average): This moving average applies least squares regression method to determine the future direction of the trend.
HMA (Hull Moving Average): This moving average is designed to reduce lag and improve smoothness, providing quicker signals for short-term market movements.
VWMA (Volume Weighted Moving Average): This assigns more weight to candles with a high volume, reflecting the true average values more accurately in high volume periods.
WMA (Weighted Moving Average): This assigns more weight to the latest data, but not as much as the EMA.
👉 Conditional coloring :
This feature colors the MACD line line based on it's direction and fills the area between the MACD line and Deviation band edges to highlight the potential volatility and the strength of the momentum. This can be useful to identify when the market is trending strongly and when it is in a more neutral or choppy state.
👉 MACD Line - Signal Line crossings:
This is a classic MACD trading signal that occurs when the MACD line crosses above or below the signal line. Crossovers can be used to identify potential trend reversals. This can be a bullish or bearish signal, depending on the direction of the crossover.
👉 General advice
Confirming Signals with other indicators:
As with all technical indicators, it is important to confirm potential signals with other analytical tools, such as support and resistance levels, as well as indicators like RSI, MACD, and volume. This helps increase the probability of a successful trade.
Use proper risk management:
When using this or any other indicator, it is crucial to have proper risk management in place. Consider implementing stop-loss levels and thoughtful position sizing.
Combining with other technical indicators:
The indicator can be effectively used alongside other technical indicators to create a comprehensive trading strategy and provide additional confirmation.
Keep in Mind:
Thorough research and backtesting are essential before making any trading decisions. Furthermore, it's crucial to have a solid understanding of the indicator and its behavior. Additionally, incorporating fundamental analysis and considering market sentiment can be vital factors to take into account in your trading approach.
Limitations:
This is a lagging indicator. Please note that the indicator is using moving averages, which are lagging indicators.
The indicators within the TradeMaster Lite package aim for simplicity and efficiency, while retaining their original purpose and value. Some settings, functions or visuals may be simpler than expected.
⭐ Conclusion
We hold the view that the true path to success is the synergy between the trader and the tool, contrary to the common belief that the tool itself is the sole determinant of profitability. The actual scenario is more nuanced than such an oversimplification. Our aim is to offer useful features that meet the needs of the 21st century and that we actually use.
🛑 Risk Notice:
Everything provided by trademasterindicator – from scripts, tools, and articles to educational materials – is intended solely for educational and informational purposes. Past performance does not assure future returns.
External Indicator Analysis Overlay | Buy/Sell | HTF Heikin-AshiThis chart overlay offers multiple candlestick display options. The Regular (Japanese) and the Heikin-Ashi candles are well known. The Mari-Ashi (or Renko) option is something special as it should be timeframe independent, so that sideways action should be represented in one candle. That is difficult to realize as an overlay on the normal candlestick structure, but perhaps the chosen implementation is useful nonetheless. The Velocity option is experimental and is designed to show if the price has accelerated too much in a trend direction. In this case, the highs and lows do not reflect the actual highs and lows, but indicate the overshooting velocity. The opening of the candle also depends on the inherent velocity, but the close of the candle is always the actual close. Anyway, it doesn't look very useful, but the option is there.
All options can be applied to higher timeframes. A usable setting is obtained by disabling only the body of the TradingView candles in regular mode and enabling this overlay.
A large part of this overlay consists of buy/sell indication settings. For activation it is necessary to select an external source. For example the “Relative Bi-Directional Volatility Range”, specifically the Trend Shift Signal (TSS). This signal switches from 0 to 1, if the trend becomes bullish or from 0 to -1, if the trend becomes bearish. It will be automatically detected without specifying the Indication Type. Alternatively, the Volatility Moving Average (VMA) would meet the requirements for the Indication Type “Buy = positive | Sell = negative”. The Moving Average Convergence Divergence (MACD) also fulfills these conditions. Another example is to use any Moving Average with the Indication Type “Buy = rising | Sell = falling”. In the chart above the Hull Moving Average (HMA) is used. In addition, it is possible to reverse the signal, so that positive signals become negative and vice versa. The signals will be labeled as Buy or Sell on the chart.
The user can analyze whether the provided signals are good or bad indications for going long or short or simply for rebalancing a portfolio. Therefore, it is possible to set a starting point for the analysis and choose a weighting for the investments from 0% to 100% of the portfolio. To avoid sleepless nights, a very reliable (and conservative) setting seems to be Rebalancing with 50% (very similar to the well-known 60/40 portfolio). The calculation results are shown in a table.
As a small addition there is the possibility to label the peaks by setting the distance between the highs/lows. This will make the quality of the buy and sell signals even more clear.
OHMLC Lines - Present- Current OHMLC candles
- Show current Open, High, Mid, Low, Close candles levels
DAX/FTSE Time Open & Close Lines
Title: "Danish Time Open & Close Lines".
Overlay: Set to true so the plotted lines will be shown on the main price chart.
Scale: Set to scale.none to avoid scaling the chart based on this script's output.
Inputs:
Two times are taken as input: openTime and closeTime (in the format of HH.MM, e.g., 9.0 represents 9:00 AM).
Colors for the opening and closing lines are also taken as inputs: openColor and closeColor.
Time Extraction:
Hours and minutes are separately extracted from the given openTime and closeTime.
For instance, if openTime is 9.30, then openHour will be 9 and openMinute will be 30.
Danish Time Adjustment:
Danish time can be either Central European Time (CET, UTC+1) or Central European Summer Time (CEST, UTC+2 during daylight saving time).
The script uses a simple method to determine whether daylight saving time is active: it checks if the current month is between March and October. If yes, it assumes CEST (UTC+2), otherwise CET (UTC+1).
The current hour is adjusted based on the above calculation to match the Danish time.
Checking Current Bar's Time:
Two conditions (isOpen and isClose) are defined to check whether the current bar on the chart corresponds to the input openTime or closeTime.
Plotting:
If the current bar matches the openTime, a green vertical line is plotted.
If it matches the closeTime, a red vertical line is plotted.
Summary: This script marks the opening and closing times of a market (like the Danish stock market) on a TradingView chart using vertical lines. The time inputs are adjusted for the Danish time zone (considering daylight saving time).
MACD HTF - Dynamic SmoothingEnhancing Your 1-Minute Trades with Dynamic HTF MACD Smoothing
Ever found yourself glued to a 1-minute chart, trying to catch every minor price movement, yet feeling like you're missing the bigger picture? Picture this: a solid MACD line on that chart, dynamically smoothed from a higher timeframe (HTF). This tool offers two significant benefits over other existing HTF MACD indicators:
User-Friendly Interface: No need to manually adjust input parameters every time you switch to a different timeframe.
Smooth Charting: Say goodbye to the zigzag lines that often result from plotting higher time frame resolutions on a lower time frame.
Understanding the MACD
The Moving Average Convergence Divergence (MACD) is one of the most widely used and trusted technical indicators in the trading community. Invented by Gerald Appel in the late 1970s, the MACD helps traders understand the relationship between two moving averages of a security's price. It consists of the MACD line (difference between a 12-period and 26-period Exponential Moving Average) and the Signal line (9-period EMA of the MACD line). When the MACD line crosses above the Signal line, it's viewed as a bullish signal, and vice versa. The difference between the two lines is represented as a histogram, providing insights into potential buy or sell opportunities.
Features of the Dynamic HTF MACD Smoothing Script
Time Frame Flexibility: Choose a higher timeframe to derive MACD values and apply dynamic smoothing to your current timeframe.
Multiple Moving Averages: The script supports various MA types like EMA, SMA, DEMA, TEMA, WMA and HMA.
Alerts: Get real-time alerts for MACD crossover and crossunder.
Customizability: From the type of moving average to its length, customize as per your strategy.
Visual Indicators: Clearly plots signals when MACD crossover or crossunder occurs for potential entries.
At last
A massive shoutout to all the wizards and generous contributors in the community! You inspire innovations and new tools, paving the path forward. Here's to a community where we learn and build together. Cheers to collective growth!
Daylight Saving Time [Open Source]Are you tired of manually tracking daylight saving time transitions on your trading charts? Say goodbye to confusion and hello to a smarter approach with our innovative indicator.
Designed to streamline your trading experience, this indicator automatically detects and highlights the exact moments when daylight saving time shifts occur, ensuring you stay on top of time changes without the hassle.
Key Features:
Customizable Display: Choose between two distinct display modes - "Flag" or "Emoticons" - to suit your visual preference and enhance your chart's clarity.
Global Compatibility: Tailor the indicator to your region by selecting your country for daylight saving time calculations. Choose from popular options like the European Union (EU) or the United States and Canada (US_CA).
Seamless Transitions: No more guessing when daylight saving time starts or ends. Our indicator will automatically mark the transition points, helping you to avoid costly trading mistakes due to incorrect time calculations.
Background Coloring: Elevate your chart's visibility by optionally coloring the background during the transition periods. With a simple toggle, you can make sure you never miss an important shift.
Experience a new level of trading precision and accuracy with the "Daylight Saving Time Indicator". Take control of your trading strategy by focusing on the market instead of time changes. Try it now and witness the difference it makes in your trading routine!
About Daylight Saving Time:
Daylight Saving Time (DST) is a practice observed by many countries to make better use of daylight during the longer days of summer. The EU and California (US_CA) have specific rules for DST transitions:
EU DST Rules:
DST begins on the last Sunday of March.
DST ends on the last Sunday of October.
US_CA DST Rules:
DST begins on the second Sunday of March.
DST ends on the first Sunday of November.
About the code
The code is briefly commented. Please feel free to use or further customize it ... And, of course, I would be happy to be named and/or linked. If you're satisfied, maybe buy me a coffee ;-)
I'm curious to see how this indicator will develop with more ideas - Please keep me updated by commenting below or by sending me a message.
HTF Trend Filter - Dynamic SmoothingSummary of the HTF Trend Filter
The Higher Time Frame (HTF) Trend Filter is a cutting-edge tool crafted for traders who want to scan moving average trend lines time efficiently. At its core, it harnesses the power of dynamic smoothing to present a sleek moving average line regardless of the time frame you’re on. Here's a glimpse of the advantages you unlock with the HTF trend filter:
Dynamic Smoother: Ever been irked by jagged lines on your chart? With the dynamic smoother, those days are gone. The smoother streamlines HTF moving average line on your current lower time frame chart.
Time Efficiency: Time is of the essence in trading. With this tool, you can nimbly toggle between time charts without the hassle of readjusting input parameters, ensuring your screening process remains unhindered.
Features of the Script
Variety of Moving Averages: The script caters to different trading styles by offering a plethora of moving average types, ranging from the classic SMA and EMA to the innovative Hull and McGinley Dynamic MAs.
Dynamic Smoothing: This is the script's pièce de résistance. The dynamic smoothing factor is ingeniously derived by taking the ratio of minutes of the higher time frame to the current time frame. This ensures the moving average remains fluid and consistent across different time frames, eliminating the common pitfalls of jagged moving averages.
Reversal Indicators: It includes a reversal indicator. Green circles pinpoint the start of a potential uptrend, while red ones signify a potential downtrend.
Customizable Alerts: To ensure you never miss a beat, the script is equipped with customizable alert conditions.
Trading Idea
The essence of trading lies in confirming assumptions and validating trends. The HTF Trend Dynamic Smoother positions itself as a potential game-changer in this domain. One could consider using the HTF trend dynamic smoother as a supplementary confirmation tool alongside other primary indicators. For instance, if you're plotting a moving average on a lower time frame, toggling the HTF smoother can offer a broader perspective of the trend from a higher time frame. By ensuring alignment between these perspectives, you could potentially trade with increased confidence, reinforcing your lower time frame strategies with higher time frame confirmations. It's worth noting, however, that while this method can offer additional layers of information and validation, it doesn't replace due diligence. Every trade decision should be the culmination of thorough analysis, and no tool should be solely relied upon for decision-making.
Limitations
While the HTF Trend Filter is an exceptional tool, like all tools, it has its constraints. Lower Time Frame Dependency: For the indicator to function optimally, it's paramount to ensure that the time frame open is always lower (or equal) than the one selected in the input parameters. This limitation is crucial to remember as the dynamic smoother's accuracy hinges on this condition.
In conclusion, the HTF Trend Filter - Dynamic Smoothing is a remarkable blend of innovation and efficiency, tailored for traders who demand fast screening of higher time frame MA trends. Due to it simplistic design it gives a user-friendly experience. However, always remember the golden rule of trading: utilize tools as part of a comprehensive strategy, never in isolation.
Doji TrenderDoji Trender searches multiple timeframes for candles where open and close are less than dojiPercent apart (default 0.025%), and plots the trends between them.
Experiment with dojiPercent to change the number of "dojis" detected. I will add doji sub-type indication if it appears to be meaningful.
By default, it plots the 5m (red), 15m (orange), 1h (yellow), 4h (green), and chart (cyan). If the chart timeframe is any of the configurable ones, the chart copy won't be drawn. (I might reverse that, so that cyan is always drawn.)
Since doji points are somewhat sparse, and the lookback is short (default 10), the EMA's make drastic corrections toward new indecision. (I'm not convinced the EMA's are useful and/or relevant.)
This works on any timeframe, but seems to work best on the 1D. (5m is somewhat irrelevant on the 1D, so there are tweaks to be made.)
Dojis from a timeframe are corrections to a doji trend from a higher timeframe.
Red corrects to orange, corrects to yellow, corrects to green.
If the chart timeframe is > 4h, the others will correct to cyan.
Otherwise, cyan will fit in-between the adjacent timeframes.
Multiple indecision candles within a short timespan forming sharp peaks indicate retests, backtests, rejections, and bounces off of support/resistance.
With a correct larger-timeframe channel, one would expect lower-timeframe indecision at/along typical levels.
Although the doji's have unpredictable wicks, the dots printed by this indicator do not. Matched with volume, they reveal the prices where the most violent battles between bulls and bears took place, and are likely to take place, again.
One could:
1) Put trends on the longest segments, then look for confluence along them, and/or near the intersections.
2) Use lower-timeframe doji trends to estimate the direction of the higher-timeframe doji trends, before they become detectable to Doji Trender. Confirm by looking for confluence where those trends intersect with horizontal support/resistance, this indicator, and/or others.
3) Notice that multiple legs on the same trend line are close to parallel, if not colinear.
4) Notice that many of the doji segments point toward (very-distant) future dojis.
5) Drop horizontal lines on the dots where we previously reversed, and find confluence in VRVP when we revisit them.
6) Create parallel (fib/whatever) channels that more-closely match MM's intent. The segments one uses to set the angle of the channel, and those used to align the channel, vertically, are not always the same:
a) Match the channel slope to as many doji slopes as possible, considering every trend.
b) Figure out where the channel actually belongs, re-considering every trend.
HighLowBox+220MAs[libHTF]HighLowBox+220MAs
This is a sample script of libHTF to use HTF values without request.security().
import nazomobile/libHTFwoRS/1
HTF candles are calculated internally using 'GMT+3' from current TF candles by libHTF .
To calcurate Higher TF candles, please display many past bars at first.
The advantage and disadvantage is that the data can be generated at the current TF granularity.
Although the signal can be displayed more sensitively, plots such as MAs are not smooth.
In this script, assigned ➊,➋,➌,➍ for htf1,htf2,htf3,htf4.
HTF candles
Draw candles for HTF1-4 on the right edge of the chart. 2 candles for each HTF.
They are updated with every current TF bar update.
Left edge of HTF candles is located at the x-postion latest bar_index + offset.
DMI HTF
ADX/+DI/DI arrows(8lines) are shown each timeframes range.
Current TF's is located at left side of the HighLowBox.
HTF's are located at HighLowBox of HTF candles.
The top of HighLowBox is 100, The bottom of HighLowBox is 0.
HighLowBox HTF
Enclose in a square high and low range in each timeframe.
Shows price range and duration of each box.
In current timeframe, shows Fibonacci Scale inside(23.6%, 38.2%, 50.0%, 61.8%, 76.4%)/outside of each box.
Outside(161.8%,261.8,361.8%) would be shown as next target, if break top/bottom of each box.
In HTF, shows Fibonacci Level of the current price at latest box only.
Boxes:
1 for current timeframe.
4 for higher timeframes.(Steps of timeframe: 5, 15, 60, 240, D, W, M, 3M, 6M, Y)
HighLowBox TrendLine
Draw TrendLine for each HighLow Range. TrendLine is drawn between high and return high(or low and return low) of each HighLowBox.
Style of TrendLine is same as each HighLowBox.
HighLowBox RSI
RSI Signals are shown at the bottom(RSI<=30) or the top(RSI>=70) of HighLowBox in each timeframe.
RSI Signal is color coded by RSI9 and RSI14 in each timeframe.(current TF: ●, HTF1-4: ➊➋➌➍)
In case of RSI<=30, Location: bottom of the HighLowBox
white: only RSI9 is <=30
aqua: RSI9&RSI14; <=30 and RSI9RSI14
green: only RSI14 <=30
In case of RSI>=70, Location: top of the HighLowBox
white: only RSI9 is >=70
yellow: RSI9&RSI14; >=70 and RSI9>RSI14
orange: RSI9&RSI14; >=70 and RSI9=70
blue/green and orange/red could be a oversold/overbought sign.
20/200 MAs
Shows 20 and 200 MAs in each TFs(tfChart and 4 Higher).
TFs:
current TF
HTF1-4
MAs:
20SMA
20EMA
200SMA
200EMA
Trade size calculatorThis script will calculate recommended Trade Size based on your Risk appetite, Trading style and Current market volatility. Once you input “ RiskPerTrade ” amount, It automatically adjusts recommended Trade Size for changes in markets behavior. You have an option to select “ Long Term ”, “ Short Term ” & “ Intraday ” as your Trade Type. Your Rec Size (Trade Size) will be calculated and printed on you chart.
How it works:
It calculates recommended trade size using your accepted risk ( RiskPerTrade input) and instruments current average price range.
It uses different multipliers to adjust the trade size based on your Trade Type .
Intraday trades are assumed to be closed within the same trading session and therefore will have the highest recommended size.
Short Term trades assume the overnight risk added to the positions and recommend a lower size.
Long Term trades assume overnight & weekend risk added to the position and therefore recommend the smallest size.
Your Trade Size is the key to Risk Management. This Indicator is simple but powerful when used with a good Portfolio Management Strategy. Just add the indicator to your chart and configure its inputs as per your trade plan.
How to configure the Indicator
Input 1 - Add RiskPerTrade amount
Input 2 - Select your Trade Type
Input 3 - Add a negative number in BarsRight to position the label in the desired location of your screen.
Important Display Setting - “ BarsRight ” Input - If you CAN'T SEE the Yellow Label on the chart after you added the indicator, set this number to a large negative no. for example -200 and then adjust the number to get the label positioned where you would like. This happens due to various screen formats and resolutions.
Please note: This indicator is designed for Equities, Stocks or ETFs only. For users in markets not priced in US dollar, make sure your instrument’s price and your RiskPerTrade amount are in the same currency.
Greedy DCA█ OVERVIEW
Detect price crashes in volatile conditions. This is an indicator for a greedy dollar cost average (DCA) strategy. That is, for people who want to repeatedly buy an asset over time when its price is crashing.
█ CONCEPTS
Price crashes are indicated if the price falls below one or more of the 4 lower Bollinger Bands which are calculated with increasing multipliers for the standard deviation.
In these conditions, the price is far below the average. Therefore they are considered good buying opportunities.
No buy signals are emitted if the Bollinger Bands are tight, i.e. if the bandwidth (upper -lower band) is below the value of the moving average multiplied with a threshold factor. This ensures that signals are only emitted if the conditions are highly volatile.
The Bollinger Bands are calculated based on the daily candles, irrespective the chart time frame. This allows to check the strategy on lower time frames
TASC 2023.09 The Weekly Factor█ OVERVIEW
TASC's September 2023 edition of Traders' Tips features an article written by Andrea Unger titled “The Weekly Factor", discussing the application of price patterns as filters for trade entries. This script implements a sample trading strategy presented in the article for demonstration purposes only. It explores how the strategy's equity curve might benefit from filtering trade entries using a specific price pattern.
█ CONCEPTS
Pattern filters represent valuable tools that assess current market conditions based on price movements and determine when those conditions become more favorable for trade entries.
The filter used and tested in this article is a metric called the "weekly factor", which measures the price range over the last five trading days and compares it to the open of the session five days ago and the close of the session one day ago (i.e., the "body" of the five-day period). When the five-day body is small compared to the five-day range, this could indicate "indecision" or "compression", potentially followed by a price expansion. Thus, the weekly factor metric can help identify areas in the market where a period of compression might signal a potential breakout.
This script demonstrates the use of the weekly factor for a sample intraday trading strategy (intended for educational and exploratory purposes only). In this strategy, the entry signal is triggered when a 15-minute bar breaks out of the previous day's high-low range, and the position is closed at the end of the day.
█ CALCULATIONS
The script uses two timeframes:
• The strategy entries are processed on the 15-minute timeframe.
• The weekly factor is obtained from the daily timeframe using the request.security function and the following formula:
math.abs(open - close ) < RangeFilter * (ta.highest(5) - ta.lowest(5) )
Here, RangeFilter is an input that can be optimized to find the favorable ratio between the five-day body and the five-day range. Smaller RangeFilter values will lead to fewer trade entries. A RangeFilter value of 1 is equivalent to turning off the filtering altogether.
