Coppock Unchanged
An implementation of the "Coppock Unchanged" plot concept by Tom McClellan.
Simply put, assume that for each bar, an alternative close creates a Coppock Plot that is unchanged , i.e. a close that generates a flat coppock curve.
This coppock unchanged plot can be used to:
1) identify a start of a trend on a long timescale (monthly) when the price goes above the coppock unchanged plot after a major correction
2) potentially identify an end of a trend when the prices goes below the coppock unchanged plot
See Tom McClellan's article 'Coppock Curve Still Working On a Major Bottom Signal' for a full explanation...
Multitimeframe
MTF Fantastic Stochastic (FS+)MTF Fantastic Stochastic (FS+) + Alerts
This chart overlay indicator can signal multiple triple-timeframe Stochastic RSI overbought and oversold confluences directly onto your chart, intended for use as a confluence either for reversal trade entries, or potential trade exits, indicating where price may be probable to reverse.
Features include:
- Primary set of fully configurable triple-timeframe overbought and oversold signals, indicating where 3 selected timeframes are all overbought or all oversold at the same time. Enabled by default.
- Secondary set of fully configurable triple-timeframe overbought and oversold signals, indicating where 3 selected timeframes are all overbought or all oversold at the same time, with alert option. Enabled by default.
- Also includes standard configurable Stoch RSI options, including k length, d length, RSI length, Stochastic length, etc.
- The default primary MTF #1 timeframes are set to 1minute, 5minute and 15minute. These are highly suitable for low timeframe scalpers trading on charts less than 5 minutes, and can often pin point price reversals.
- The default Secondary MTF #2 timeframes are set to 15minute, 30minute and 60minute. These are suitable for both low timeframe scalpers and considerably higher timeframe traders.
- Optional drawing of background colours and/or ribbon seen at bottom of the chart.
- Fully configurable timeframes, as well as overbought and oversold threshold levels for each individual timeframe. Overbought and oversold thresholds are set to the factory 80 and 20 levels respectively for all timeframes by default.
- Alert features for both MTF #1 and MTF #2 triple-timeframe confluences, including options for alerting overbought and oversold individually, as well as an option for alerting either overbought or oversold in a single alert.
Note: THe features listed above are accurate at the time of publishing but maybe updated or added to in future.
The Stochastic RSI
The popular oscillator has been described as follows:
“The Stochastic RSI is an indicator used in technical analysis that ranges between zero and one (or zero and 100 on some charting platforms) and is created by applying the Stochastic oscillator formula to a set of relative strength index ( RSI ) values rather than to standard price data. Using RSI values within the Stochastic formula gives traders an idea of whether the current RSI value is overbought or oversold. The Stochastic RSI oscillator was developed to take advantage of both momentum indicators in order to create a more sensitive indicator that is attuned to a specific security's historical performance rather than a generalized analysis of price change.”
How do traders use overbought and oversold levels in their trading?
The oversold level, that is when the Stochastic RSI is above the 80 level is typically interpreted as being 'overbought', and below the 20 level is typically considered 'oversold'. Traders will often use the Stochastic RSI at an overbought level as a confluence for entry into a short position, and the Stochastic RSI at an oversold level as a confluence for an entry into a long position. These levels do not mean that price will necessarily reverse at those levels in a reliable way, however. This is why this version of the Stoch RSI employs the triple timeframe overbought and oversold confluence, in an attempt to add a more confluence and reliability to this usage of the Stoch RSI.
This indicator was originally built as one of a many features included in the RF+ Divergence Scalping System and has been separated into it's own standalone indicator here for traders who do not want the many other features bundled into the original indicator. A number of features that exist in the original were intensive, and also quite niche. Therefore this lightweight single purpose chart overlay indicator offers this versatile feature of the ever popular Stochastic RSI to a wider audience of traders who may add it to various strategies.
Rainbow ChannelI have designed this indicator with the idea of staying focused on the price during the corresponding trend, for this I have built a rainbow channel
The upper part of the channel is painted in colors during the uptrend, at this time the lower part turns gray to focus only on the longs signals
The lower part of the channel is painted in colors during the downtrend, at this time the upper part turns gray to focus only on the shorts signals
The signals are followed by a mark that indicates when to close that trade.
The indicator works with all timeframes, I use it on the 1 hour chart and I do the trades in 1 minute.
CREDITS:
- @DonovanWall for his study "Gaussian Channel " included in this script
- @Alex Orekhov (everget) for his study "HalfTrend" included in this script
Higher Time Frame Average True RangesPurpose: This script will help an options trader asses risk and determine good entry and exit strategies
Background Information: The true range is the greatest of: current high minus the current low; the absolute value of the current high minus the previous close; and the absolute value of the current low minus the previous close. The Average True Range (ATR) is a 14-day moving average of the true range. Traders use the ATR indicator to assess volatility in stocks and decide when to enter and exit trades. It is important to note the limitations of using True Range and ATR: These indications cannot tell you the direction of your options trade (call vs. put) and they cannot tell you whether a particular trend is about to reverse. However, it can be used to assess if volatility has peaked for a particular direction and time period.
How this script works: This indicator calculates true range for the daily (DTR), weekly (WTR), and monthly (MTR) time frames and compares it to the Average True Range (ATR) for each of those time frames (DATR, WATR, and MATR). The comparison is displayed into a colored table in the upper right-hand corner of the screen. When a daily, weekly, or monthly true range reaches 80% of its respective ATR, the row for that time frame will turn Orange indicating medium risk for staying in the trade. If the true range goes above 100% of the respective ATR, then the row will turn Red indicating high risk for staying in the trade. When the row for a time period turns red, volatility for the time period has likely peaked and traders should heavily consider taking profits. It is important to note these calculations start at different times for each time frame: Daily (Today’s Open), Weekly (Monday’s Open), Monthly (First of the Month’s Open). This means if it’s the 15th of the month then the Monthly True Range is being calculated for the trading days in the first half of the month (approximately 10 trade days).
The script also plots three sets of horizontal dotted lines to visually represent the ATR for each time period. Each set is generated by adding and subtracting the daily, weekly, and monthly ATRs from that time periods open price. For example, the weekly ATR is added and subtracted from Mondays open price to visually represent the true range for that week. The DATR is represented by red lines, the WATR is represented by the green lines, and the MATR is represented by the blue lines. These plots could also be used to assess risk as well.
How to use this script: Use the table to assess risk and determine potential exit strategies (Green=Low Risk, Orange=Medium Risk, Red=High Risk. Use the dotted lines to speculate what a stock’s price could be in a given time period (Daily=Red, Weekly=Green, and Monthly=Blue). And don’t forget the true range’s calculation and plots starts at the beginning of each time period!
International Open Market Hours by WAMRAInternational Market Hours for NY, London, Germany and Japan.
It will plot an "Open" value for use with other indicators.
Volume 15m vs 1m*Up/Down Volume Indicator
This indicator plots the 15m volume (black line) on the 1m chart alongside the sum of 1m volume for 15m (blue line).
This indicator allows us to see the raw data that will generate the 15m volume before it occurs.
Next it seperates up period volume (green line) from down period volume (red line) so that we can see how much of each was responsible for the total volume.
The black line will dance for 15m at a time but if the blue line rises above the locked in section of the black line (to the left), then the next 15m volume will be higher than the last.
Also, if the green line is higher than the red, we know that up volume is driving of the increase.
*Volume Sum Indicator
This indicator allows us to track the volume trend even when volume is near zero.
This indicators sums the 15m volume for 13 periods to represent 200 minutes worth of volume.
Then it plots the sum of 1m up volume for 200 periods and the 1m down volume for 200 periods.
When green is over red, the volume is trending up.
Blue is the total 1m volume for 200 periods. It should act as a resistance line since it is unusual for 100% of volume to be up volume or down volume.
This indicator only works on the 1m chart. The higher timeframe must be set to 15m. If anyone knows how to make this indicator work on any timeframe that would be great!
Gap ZonesSharing a simple gap zone identifier, simply detects gap up/down areas and plots them for visual reference. Calculation uses new candle open compared to previous candle close and draws the zone, a mid point is plotted also as far too often it's significance is proven effective.
Works on any timeframe and market though I recommend utilizing timeframes such as weekly or daily for viewing at lower timeframes such as 5, 15 or 30 minutes.
Often price is observed reaching towards zone high/mid/low before rejection/bouncing. These gap zones can give quantitative basis for trade management.
Future features may include alerts based on price crossing up/down gap low, mid and highs. Feel free to message with any other suggestions.
Price Correction to fix data manipulation and mispricingPrice Correction corrects for index and security mispricing to the extent possible in TradingView on both daily and intraday charts. Price correction addresses mispricing issues for specific securities with known issues, or the user can build daily candles from intraday data instead of relying on exchange reported daily OHLC prices, which can include both legitimate special auction and off-exchange trades or illegitimate mispricing. The user can also detect daily OHLC prices that don’t reflect the intraday price action within a specified percent deviation. Price Correction functions as normal candles or bars for any time frame when correction is not needed.
On the 4th of October 2022, the AMEX exchange, owned by the New York Stock Exchange, decided to misprice the daily OHLC data for the SPY, the world’s largest ETF fund. The exchange eliminated the overnight gap that should have occurred in the daily chart that represents regular trading hours by showing a wick connecting near the close of the previous day. Neither the SPX, the SP500 cash index that the SPY ETF tracks, nor other SPX ETFs such as VOO or IVV show such a wick because significant price action at that level never occurred. The intraday SPY chart never shows the price drop below 372.31 that day, but there is a wick that extends to 366.57. On the 6th of October, they continued this practice of using a wick that connects with the close of the previous day to eliminate gaps in daily price action. The objective of this indicator is to fix such inconsistent mispricing practices in the SPY, NYA, and other indices or securities.
Price Correction corrects for the daily mispricing in the SPY to agree with the price action that actually occurred in the SPX index it tracks, as well as the other SPX ETFs, by using intraday data. The chart below compares the Price Correction of the SPY (top) to the SPX (middle) and the original mispriced SPY (bottom) with incorrect wicks. Price correction (top) removes those incorrect wicks (bottom) to match the SPX (middle).
The daily mispricing of the SPY follows after the successful deployment of the NYSE Composite Index mispricing, NYA, an index that represents all common stocks within the New York Stock Exchange, the largest exchange in the world. The importance of the NYA should not be understated. It is the price counterpart to NYSE’s market internals or statistics. Beginning in 2021, the New York Stock Exchange eliminated gaps in daily OHLC data for the NYA by using the close of the previous day as the open for the following day, in violation of their own NYSE Index Series Methodology. The Methodology states for the opening price that “The first index level is calculated and published around 09:30 ET, when the U.S. equity markets open for their regular trading session. The calculation of that level utilizes the most updated prices available at that moment.” You can verify for yourself that this is simply not the case. The first update of the NYA price for each day matches the close of the previous day, not the “most updated prices available at that moment”, causing data providers to often represent the first intraday bar with a huge sudden price change when an overnight price change occurred instead. For example, on 13 Jun 2022, TradingView shows a one-minute bar drop 2.3%. With a market capitalization of roughly 23 trillion dollars, the NYSE composite capitalization did not suddenly drop a half-trillion dollars in just one minute as the intraday chart data would have you believe. All major US indices, index ETFs, and even foreign indices like the Toronto TAX, the Australian ASXAL, the Bombay SENSEX, and German DAX had down gaps that day, except for the mispriced NYSE index. Price Correction corrects for this mispricing in daily OHLC data, as shown in the main chart at the top of this page comparing the original NYA (top) to the Price Corrected NYA (bottom).
Price Correction also corrects for the intraday mispricing in the NYA. The chart below shows how the Price Correction (top) replaces the incorrect first one-minute candles with gaps (bottom) from 22 Sep 2022 to 29 Sep 2022. TradingView is inconsistent in how intraday data is reported for overnight gaps by sometimes connecting the first intraday bar of the day to the close of the previous day, and other times not. This inconsistency may be due to manually changing the intraday data based on user support tickets. For example, after reporting the lack of a major gap in the NYA daily OHLC prices that existed intraday for 13 Jun 2022, TradingView opted to remove the true gap in intraday prices by creating a 2.3% half-a-trillion-dollar one-minute bar that connected the close of the previous day to show a sudden drop in price that didn’t occur, instead of adding the gap in the daily OHLC data that actually took place from overnight price action.
Price Correction allows users to detect daily OHLC data that does not reflect the intraday price action within a certain percent difference by changing the color of those candles or bars that deviate. The chart below clearly shows the start of the NYSE disinformation campaign for NYA that started in 2021 by painting blue those candles with daily OHLC values that deviated from the intraday values by 0.1%. Before 2021, the number of deviating candles is relatively sparse, but beginning in 2021, the chart is littered with deviating candles.
If there are other index or security mispricing or data issues you are aware of that can be incorporated into Price Correction, please let me know. Accurate financial data is indispensable in making accurate financial decisions. Assert your right to accurate financial data by reporting incorrect data and mispricing issues.
How to use the Price Correction
Simply add this “indicator” to your chart and remove the mispriced default candles or bars by right clicking on the chart, selecting Settings, and de-selecting Body, Wick, and Border under the Symbol tab. The Presets settings automatically takes care of mispricing in the NYA and SPY to the extent possible in TradingView. The user can also build their own daily candles based off of intraday data to address other securities that may have mispricing issues.
deviation from fixed-timeframe-maIt is like an improved version of the deviation rate from the R-type (Radioyazi) moving average line used in stocks.
5RMA deviation rate is red and 25RMA deviation rate is blue. RMA is the average of the opening, high, low and closing prices. You can change it to SMA or close price in the settings.
Pink is (5RMA+25RMA)/2.
Each line is a band, the upper end is the high price, the lower end is the low price, and the middle line is the closing price. If you don't need the high/low price band, you can turn it off in the settings.
The gray line is the difference between the red 5RMA deviation rate and the blue 25RMA deviation rate.
It draws the results on the daily chart even on the intraday chart.
株で使われるR式(RadiOyazi)移動平均線からの乖離率の改良版のようなものです。
5RMA乖離率が赤で、25RMA乖離率が青です。RMAは、始値、高値、安値、終値の平均です。設定でSMAにも終値にも変更できます。
ピンクが(5RMA+25RMA)/2です。
各線が帯になってますが、上端が高値、下端が安値、中の線が終値です。高値・安値の帯が要らなければ、設定で消せます。
グレーの線は、赤の5RMA乖離率と青の25RMA乖離率の差です。
日中足でも日足での結果を描画します。
[VTaL] Vertical Time Alert Lines - By BlueJayBird🦾 USE
- Vertical lines drawn ON TOP of chart at selected key times of the day, week, month, year.
- You can use it at any symbol (as far as I know).
- Programmatic alerts available.
- Lines from lower time-frames are selectively NOT visible at higher time-frames. Example: At 1h time-frame, vertical lines from 1h and 4h intervals are not visible. Drawing them is considered not really useful.
🎭 MAIN FEATURES
- Available targeted times: 3m, 15m, 1h, 4h, 1D, 1W, 1M, 1Y.
- Offset available for all lines. Example: 1 offset for 4h moves lines from 4AM to 8AM.
- Programmatic alerts for all lines. Example: If alert is enabled for 15m lines, every time those lines are reached, alert will trigger.
- Available drawing themes: Custom, Light, Dark.
💻 NOTES ON CODE
- Vertical lines are drawn using a custom function, which uses line.new() built-in function.
- Alerts are triggered using ta.cross() built-in function. Alert is triggered when close price crosses a given time value from the line.get_x1() built-in function.
- I've added, where necessary, several comments to the code for understanding what's going on. If you have additional questions, you may ask them in the comment section of the publication.
- 3m lines are not really useful in day-trading, they were added for debugging purposes mainly. Useful for learning how to use alerts, though.
👉🏼 NOTES ON ALERTS
- When setting up an alert, the targeted line must be enabled/visible.
- Every time any alert is enabled or disabled, you must create AGAIN the alert from the "Alerts" panel (remember, alerts run in the back-end).
- Alerts contain really useful information. If you have any idea for adding some other data, tell in the comment section. 💡
⚠️ KNOWN ISSUES
- None. Let me know please if you find any.
--------------------------------------------
~ Comment , Follow and Boost ~ 🚀
Display Momento -[0.1]-This is Indicator Panel use for watch many indicator in one panel.
*For this version u can only adjust length (RSI , STOCH , ATR)
SUPER MACDthis indicator serves to differentiate the classic source of MACD and add the: DYNAMIC MACD and DYNAMIC BAND
with these inputs you can modify the inputs of the different Bar's, you can choose between:
Candles = classic Candles
Heikin Hashi
Kagi
Line break
Pointfigure
Renko
To use the Dynamic Macd and Band just check the box:
Use Dynamic Rsi??? = this input will change the Rsi in the Dynamic Rsi
Use Dynamic Band??? = this input will change the Bands to the Dynamic Band
Selecting the input: "Use Different Source ???" you can use a source with multiple elements of your choice:
2 = (Source 1 + Source 2) / 2
3 = (Source 1 + Source 2 + Source 3) / 3
4 = (Source 1 + Source 2 + Source 3 + Source 4) / 4
5 = (Source 1 + Source 2 + Source 3 + Source 4 + Source 5) / 5
MTF MA Ribbon and Bands + BB, Gaussian F. and R. VWAP with StDev█ Multi Timeframe Moving Average Ribbon and Bands + Bollinger Bands, Gaussian Filter and Rolling Volume Weighted Average Price with Standard Deviation Bands
Up to 9 moving averages can be independently applied.
The length , type and timeframe of each moving average are configurable .
The lines, colors and background fill are customizable too.
This script can also display:
Moving Average Bands
Bollinger Bands
Gaussian Filter
Rolling VWAP and Standard Deviation Bands
Types of Moving Averages:
Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Smoothed Moving Average (SMMA)
Weighted Moving Average (WMA)
Volume Weighted Moving Average (VWMA)
Least Squares Moving Average (LSMA)
Hull Moving Average (HMA)
Arnaud Legoux Moving Average (ALMA)
█ Moving Average
Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time.
A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance.
█ Bollinger Bands
Bollinger Bands consist of a band of three lines which are plotted in relation to security prices.
The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader, a 20 day moving average is by far the most popular).
The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price.
█ Gaussian Filter
Gaussian filter can be used for smoothing.
It rejects high frequencies (fast movements) better than an EMA and has lower lag.
A Gaussian filter is one whose transfer response is described by the familiar Gaussian bell-shaped curve.
In the case of low-pass filters, only the upper half of the curve describes the filter.
The use of gaussian filters is a move toward achieving the dual goal of reducing lag and reducing the lag of high-frequency components relative to the lag of lower-frequency components.
█ Rolling VWAP
The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day.
Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe.
You can thus use the rolling VWAP on any chart that includes volume information in its data feed.
Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset.
Made with the help from scripts of: adam24x, VishvaP, loxx and pmk07.
TrapFrames (Stocks)TrapFrames (Stocks) is the Stock version of Trapframes that is the table chart from Traplight that showed the current values for a symbol for Traplight and Kriss/Kross, but cranked up to 11! You can select from a large list of stocks to create a dashboard-like view of your favorite symbols. So that you can "Check the Weather" so to speak. This is mainly to be used as a companion indicator to Traplight. So, that you can find which of your symbols looks interesting, and delve more deeply into them on an individual basis from there.
TrapFramesTrapFrames is the table chart from Traplight that showed the current values for a symbol for Traplight and Kriss/Kross, but cranked up to 11! You can select from a large list of pairs/indexes to create a dashboard-like view of your favorite symbols. So that you can "Check the Weather" so to speak. This is mainly to be used as a companion indicator to Traplight. So, that you can find which of your symbols looks interesting, and delve more deeply into them on an individual basis from there.
True Average Period Traded RangeTrue Average Period Trading Range (TAPTR)
The J. Welles Wilder Average True Range calculation includes the ability to calculate in gaps into the equation.
It is in my opinion that gaps are untraded range values until the prices on their own come back and close the gaps.
The TAPTR calculation is simple, it is the average for a set period of time of the HIGH - LOW.
The ATR average calculation is automatically set based on the timeframe period you are looking at.
12 Months (1 year) = 10 (1 decade)
Months = 12 (1 year)
Weeks = 12 (1 business quarter)
Days = 21 (1 trading month)
4 Hour = 9 (5 trading days)
1 Hour = 33 (5 trading days)
45 minutes = 9 (1 trading day)
30 minutes = 14 (1 trading day)
15 minutes = 28 (1 trading day)
10 minutes = 42 (1 trading day)
5 minutes = 85 (1 trading day)
1 minute = 420 (1 trading day)
default value = 21 (if using a timeframe not described above)
The "master trend" as being a 21 SMA.
The colored columns represent the actual range value for that time period.
Description of values from left to right.
1) Actual Trade Range Value for the time period you are viewing
2) % of price (in decimal, you need multiply by 100 to get the true percent)
3) Average Traded Range
4) % of price
5) .618 of Average Traded Range
6) % of price
7) Mean of #3 and #5
8) % of price
The % of price is displayed in its calculated form. You need to multiple the value by 100 if you want the actual percent.
Example: Displayed Value: 0.0246 = 2.46%
Why calculated form only? If the ranges are .72 and the % of price is 2.32 the indicator looks all jacked up like a redneck's pick-up.
However, if it is .0232, everything is to scale.
Why is % of price helpful?
If you are trading and are aware that average period traded range is 5%, you now have an idea of an average return if you could catch from low to high (or short high to low).
Bar Colors
RED is greater than 4.2x TAPTR
ORANGE is greater than 2.618x TAPTR but less than RED
YELLOW is greater than 1.618x TAPTR but less than ORANGE
GREEN is greater than .618x TAPTR but less than YELLOW
BLUE is less than GREEN
The colors of the bars represent how far from the Master Trend (21 SMA) the close is.
This is determined by taking the difference between the close and the 21 SMA and dividing by the current TAPTR.
EXAMPLE:
IF you have a RED bar, the close is greater than 4.2 TAPTRs away from the 21 SMA. This means that either prices will stall and remain flat until
the SMA comes to the prices or turn and return to the SMA.
If prices are greater than 4.2 TAPTR, that also represents that it is greater than 4 or more time periods from the mean if the return traded within the averages.
Moving Averages based on higher TimeframesOVERVIEW
This indicator gives you the possibility to plot up to 10 individually adjustable moving averages on to one chart. You can individualize them based on several criteria.
FEATURES
Type : You can define which type of moving average you want to use. Possible options are EMA, SMA, WMA, HMA, and RMA.
Source : By default, moving averages use the closing price as source, but you can use all OHCL values as source.
Length : Set the length of the moving average.
Timeframe : Select any timeframe the moving average should be based on.
Smooth line : Plot the moving average as a smooth or a stepped line.
Important : This indicator was designed to request values from moving averages of a timeframe higher than the current chart timeframe. It is not recommended to request values from moving averages of a timeframe lower than the current chart timeframe.
If you find errors of any kind or have suggestions to improve this indicator or just want to give some feedback, please feel free to post a comment below.
Vegas AutoThis is a trial script that searches for Vegas buy/sell signals in different time frames.
When a Vegas signal is found, it remains valid until the Vegas tunnel at that time frame is broken (i.e. 12 EMA crosses 144 EMA), or the candle closes across the 200 EMA.
When a signal in a lower time frame is found, the Vegas signal in higher time frames are also considered to be valid, as long as the corresponding EMAs are in the appropriate order. And when the Vegas signal in a lower time frame is invalidated, the script automatically switches to the next higher time frame that is still valid.
The Vegas tunnels when the buy/sell signals are valid are shown as green/red lines. The time frames considered are 30m, 1H, 2H, 4H, 6H, 12H, and 1D.
CFH | RSI-SRSI tableShows RSI and SRSI values on multiple timeframes, highlights oversold and overbought
Timeframes and colors are customizable
/V1llager/
TPO Letters [Kioseff Trading]Hello!
"TPO Letters" functions similarly to the script "Realtime TPO Profile"; however, TPO characters are appended to a developing bar. Simply, TPO characters display on the bar that formed them.
All colors are configurable.
The image above emphasizes functionality; TPO letters are colored on a gradient . Additionally, the value area range is shaded; characters that form within the range are gradient colored. Gray-colored characters extend beyond the value area.
The columned data displayed right of the TPO letters shows tick levels. Tick levels are shaded various colors, each color indicative of some occurrence.
Tick Levels
Red: Single Print
Yellow: POC
Lime Green: VAH or VAL
Lighter Green: Value Area Inclusive Level
Left of the TPO horizontal-axis, the aqua-colored line (blue-line inclusive) reflects the high-low range of the session; the blue-colored line reflects the initial-balance range (IBR).
You can select to color TPO letters within the IBR blue (any color).
Additionally, you can select to shade the IBR.
The image above shows auxiliary features.
Unfortunately, I'm unable to orient TPO letters at their intended tick levels using one label per bar, a contrasting feature of the "Realtime TPO Profile" script.
This means only 1000 TPO letters can be displayed simultaneously. If the number of TPO letters exceeds 1000, early-session and middle-session characters will begin to disappear. This isn't an issue for the "Realtime TPO Profile" script, as each tick level comprised one label, to which additional TPO characters were appended to the label as necessary and extended horizontally. Using this same method proved fallible for this indicator - vertical scaling is an issue. While I could append all letters formed for a bar to one label, the letters wouldn't superimpose atop their corresponding tick level (using " " didn't suffice).
Consequently, you'll have to, at times, rely on the label & box count oriented in the bottom-right table to see whether the number of labels & boxes transcends the upper threshold. You can hide this table at anytime (:
The image above exemplifies the "Fixed Range" portion of the indicator. A useful inclusion for the "Realtime TPO Profile" script however, while still useful for "TPO Letters", can only display 1000 TPO letters concurrently.
You can also reset the TPO profile at user-defined time intervals.
The indicator hosts an auto-calculate tick levels option; however, there will be times you'll need to manually adjust the tick levels to achieve digestible results (:
That's all! If the script would benefit from an excluded feature, or you notice an error, please let me know! Thank you (:
Shoutout to @kaigouthro for creating an exceptional library for gradient colors!! It was used in this script (:
Buying & Selling PressureBuying and selling pressure is a volatility indicator which denotes the balance between buyers and sellers inside candlestick.
You set the length to average it just like ATR. But This offers further break down of participants of the market.
Pretty much at any condition of the market the indicator can filter out interesting details to make trading decisions faster or confirm them.
So keep it simple we have two lines
🟢 Green → buying pressure
🔴 Red → selling pressure
If green is rising → Price most likely will grow
If green is rising and red is falling → Price will grow at higher probability
If red is rising → Price most likely will fall
If red is rising and green is falling → Price will fall at higher probability
When they both grow or fall → wait till one of them goes opposite way.
╳ Crossings can indicate turning points for bigger price swings.
Technically by very act of intersecting means that Buying and Selling Pressure are equal.
Can be used for Demand/Supply analysis and evaluate the support/resistance levels.
TMO ArrowsTMO - (T)rue (M)omentum (O)scillator) MTF Arrows
Do you want to use TMO but you lack space on the chart? This study is just for you. This is the more user-friendly version of the TMO Oscillator. In terms of the indicator there are no changes except the indicator is converted in to the simple arrows.
There are Four Types of Arrows:
1. TMO Arrow Up - Visualizes the TMO bullish crosses.
2. TMO Arrow Down - Visualizes the TMO bearish crosses.
3. TMO Arrow Up (Oversolds Only) - Visualizes only the bullish crosses that are at or below the oversold zone.
4. TMO Arrow Down (Overboughts Only) - Visualizes only the bearish crosses that are at or above the overbought zone.
In case you only want the arrows for extremes, turn off the Arrow Up / Arrow Down first. Arrows for extremes only are turned off by default.
Hope it helps.
RF+ Divergence Scalping SystemRF+ Divergence Scalping System + Custom Signals + Alerts.
This chart overlay indicator has been developed for the low timeframe divergence scalper.
Built upon the realtime divergence drawing code from the Divergence for Many indicator originally authored by Lonsometheblue, this chart overlay indicator bundles several additional unique features and modifications to serve as an all-in-one divergence scalping system. The current key features at the time of publishing are listed below (features are optional and can be enabled or disabled):
- Fully configurable realtime divergence drawing and alerting feature that can draw divergences directly on the chart using data sourced from up to 11 oscillators selected by the user, which have been included specifically for their ability to detect divergences, including oscillators not presently included in the original Divergence for Many indicator, such as the Ultimate Oscillator and TSI.
- Optional on chart table showing a summary of key statuses of various indicators, and nearby divergences.
- 2 x Range Filters with custom settings used for low timeframe trend detection.
- 3 x configurable multi-timeframe Stochastic RSI overbought and oversold signals with presentation options.
- On-chart pivot points drawn automatically.
- Automatically adjusted pivot period for up to 4 configurable time frames to fine tune divergences drawn for optimal divergence detection.
- Real-price line for use with Heikin Ashi candles, with styling options.
- Real-price close dots for use with Heikin Ashi candles, with styling options.
- A selection of custom signals that can be printed on-chart and alerted.
- Sessions indicator for the London, New York, Tokyo and Sydney trading sessions, including daylight savings toggle, and unique ‘invert background color’ option, which colours the entire chart - except the trading session you have selected, leaving your chart clear of distracting background color.
- Up to 4 fully configurable moving averages.
- Additional configurable settings for numerous built in indicators, allowing you to alter the lengths and source types, including the UO, TSI, MFI, TSV, 2 x Range Filters.
- Configurable RSI Trend detection signal filter used in a number of the signals, which filters buy signals where the RSI is over the RSI moving average, and only prints sell signals where RSI is under the moving average.
- Customisable on-chart watermark, with inputs for a custom title, subtitle, and also an optional symbol | timeframe | date feature.
The Oscillators able to be selected for use in drawing divergences at the time of publishing are as follows:
- Ultimate Oscillator (UO)
- True Strength Indicator (TSI)
- Money Flow Index (MFI)
- Cumulative Delta Volume (CDV)
- Time Segmented Volume (TSV)
- Commodity Channel Index (CCI)
- Awesome Oscillator
- Relative Strength Index (RSI)
- Stochastic
- On Balance Volume (OBV)
- MACD Histogram
What are divergences?
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
There are 4 main types of divergence, which are split into 2 categories;
regular divergences and hidden divergences. Regular divergences indicate possible trend reversals, and hidden divergences indicate possible trend continuation.
Regular bullish divergence: An indication of a potential trend reversal, from the current downtrend, to an uptrend.
Regular bearish divergence: An indication of a potential trend reversal, from the current uptrend, to a downtrend.
Hidden bullish divergence: An indication of a potential uptrend continuation.
Hidden bearish divergence: An indication of a potential downtrend continuation.
Setting alerts.
With this indicator you can set alerts to notify you when any/all of the above types of divergences occur, on any chart timeframe you choose, also when the triple timeframe Stochastic RSI overbought and oversold confluences occur, as well as when custom signals are printed.
Configurable pivot period values.
You can adjust the default pivot period values to suit your prefered trading style and timeframe. If you like to trade a shorter time frame, lowering the default lookback values will make the divergences drawn more sensitive to short term price action. By default, this indicator has enabled the automatic adjustment of the pivot periods for 4 configurable time frames, in a bid to optimize the divergences drawn when the indicator is loaded onto any of the 4 time frames selected. These time frames and their associated pivot periods can be fully reconfigured within the settings menu. By default, these have been further optimized for the low timeframe scalper trading on the 1-15 minute time frames.
How do traders use divergences in their trading?
A divergence is considered a leading indicator in technical analysis , meaning it has the ability to indicate a potential price move in the short term future.
Hidden bullish and hidden bearish divergences, which indicate a potential continuation of the current trend are sometimes considered a good place for traders to begin, since trend continuation occurs more frequently than reversals, or trend changes.
When trading regular bullish divergences and regular bearish divergences, which are indications of a trend reversal, the probability of it doing so may increase when these occur at a strong support or resistance level . A common mistake new traders make is to get into a regular divergence trade too early, assuming it will immediately reverse, but these can continue to form for some time before the trend eventually changes, by using forms of support or resistance as an added confluence, such as when price reaches a moving average, the success rate when trading these patterns may increase.
Typically, traders will manually draw lines across the swing highs and swing lows of both the price chart and the oscillator to see whether they appear to present a divergence, this indicator will draw them for you, quickly and clearly, and can notify you when they occur.
How do traders use overbought and oversold levels in their trading?
The oversold level is when the Stochastic RSI is above the 80 level is typically interpreted as being 'overbought', and below the 20 level is typically considered 'oversold'. Traders will often use the Stochastic RSI at, or crossing down from an overbought level as a confluence for entry into a short position, and the Stochastic RSI at, or crossing up from an oversold level as a confluence for an entry into a long position. These levels do not mean that price will necessarily reverse at those levels in a reliable way, however. This is why this version of the Stoch RSI employs the triple timeframe overbought and oversold confluence, in an attempt to add a more confluence and reliability to this usage of the Stoch RSI.
This indicator is intended for use in conjunction with related panel indicators including the TSI+ (True Strength Indicator + Realtime Divergences), UO+ (Ultimate Oscillator + Realtime Divergences), and optionally the STRSI+ (MTF Stochastic RSI + Realtime Divergences) and MFI+ (Money Flow Index + Realtime Divergences) available via this authors’ Tradingview profile, under the scripts section. The realtime divergence drawing code will not identify all divergences, so it is suggested that you also have panel indicators to observe. Each panel indicator also offers additional means of entry confirmation into divergence trades, for example, the Stochastic can indicate when it is crossing down from overbought or up from oversold, the TSi can indicate when the 2 TSI bands cross over one another upward or downward, and the UO and MFI can indicate an entry confluence when they are nearing, or crossing their centerlines, for more confidence in your divergence trade entries.
Additional information on the settings for this indicator can be found via the tooltips within the settings menu itself. Further information on feature updates, and usage tips & tricks will be added to the comments section below in due course.
Disclaimer: This indicator uses code adapted from the Divergence for Many v4 indicator authored by Lonesometheblue, and several stock indicators authored by Tradingview. With many thanks.
