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DAMA OSC - Directional Adaptive MA OscillatorOverview: The DAMA OSC (Directional Adaptive MA Oscillator) is a highly customizable and versatile oscillator that analyzes the delta between two moving averages of your choice. It detects trend progression, regressions, rebound signals, MA cross and critical zone crossovers to provide highly contextual trading information. Designed for trend-following, reversal timing, and volatility filtering, DAMA OSC adapts to market conditions and highlights actionable signals in real-time. Features: Support for 11 custom moving average types (EMA, DEMA, TEMA, ALMA, KAMA, etc.) Customizable fast & slow MA periods and types Histogram based on percentage delta between fast and slow MA Trend direction coloring with “Green”, “Blue”, and “Red” zones Rebound detection using close or shadow logic Configurable thresholds: Overbought, Oversold, Underbought, Undersold Optional filters: rebound validation by candle color or flat-zone filter Full visual overlay: MA lines, crossover markers, rebound icons Complete alert system with 16 preconfigured conditions How It Works: Histogram Logic: The histogram measures the percentage difference between the fast and slow MA: hist_value = ((FastMA - SlowMA) / SlowMA) * 100 Trend State Logic (Green / Blue / Red): Green_Up = Bullish acceleration Blue_Up (or Red_Up, depending the display settings) = Bullish deceleration Blue_Down (or Green_Down, depending the display settings) = Bearish deceleration Red_Down = Bearish acceleration Rebound Logic: A rebound is detected when price: Crosses back over a selected MA (fast or slow) After being away for X candles (rebound_backstep) Optional: filtered by histogram zones or candle color Inputs: Display Options: Show/hide MA lines Show/hide MA crosses Show/hide price rebounds Enable/disable blue deceleration zones DAMA Settings: Fast/Slow MA type and length Source input (close by default) Overbought/Oversold levels Underbought/Undersold levels Rebound Settings: Use Close and/or Shadow Rebound MA (Fast/Slow) Candle color validation Flat zone filter rebounds (between UnderSold and UnderBought) Available MA type: SMA (Simple MA) EMA (Exponential MA) DEMA (Double EMA) TEMA (Triple EMA) WMA (Weighted MA) HMA (Hull MA) VWMA (Volume Weighted MA) Kijun (Ichimoku Baseline) ALMA (Arnaud Legoux MA) KAMA (Kaufman Adaptive MA) HULLMOD (Modified Hull MA, Same as HMA, tweaked for Pine v6 constraints) Notes: **DEMA/TEMA** reduce lag compared to EMA, useful for faster reaction in trending markets. **KAMA/ALMA** are better suited to noisy or volatile environments (e.g., BTC). **VWMA** reacts strongly to volume spikes. **HMA/HULLMOD** are great for visual clarity in fast moves. Alerts Included (Fully Configurable): Golden Cross: Fast MA crosses above Slow MA Death Cross: Fast MA crosses below Slow MA Bullish Rebound: Rebound from below MA in uptrend Bearish Rebound: Rebound from above MA in downtrend Bull Progression: Transition into Green_Up with positive delta Bear Progression: Transition into Red_Down with negative delta Bull Regression: Exit from Red_Down into Blue/Green with negative delta Bear Regression: Exit from Green_Up into Blue/Red with positive delta Crossover Overbought: Histogram crosses above Overbought Crossunder Overbought: Histogram crosses below Overbought Crossover Oversold: Histogram crosses above Oversold Crossunder Oversold: Histogram crosses below Oversold Crossover Underbought: Histogram crosses above Underbought Crossunder Underbought: Histogram crosses below Underbought Crossover Undersold: Histogram crosses above Undersold Crossunder Undersold: Histogram crosses below Undersold Credits: Created by Eff_Hash. This code is shared with the TradingView community and full free. do not hesitate to share your best settings and usage.
Pine Script® indicator
by Eff_Hash
Round Numbers Round Numbers – A Visual Guide to Key Psychological Price Levels The Round Numbers indicator highlights key psychological price levels, specifically 500s and 1000s, which frequently act as support and resistance zones. This tool automatically detects and plots horizontal lines at these critical price points, helping traders analyze market structure with clarity. Features: Plots horizontal lines at every 500 & 1000 price level (e.g., $20,500, $21,000, $21,500). Customizable settings: Line color, style (solid, dashed, dotted). Font type selection (Comic Sans, Century Gothic, Sans, Serif, Mono). Text color customization. Formatted price labels with currency symbols (e.g., $20,500). Adjustable line length – Choose how many candles back the lines extend (1-500 bars). No background on price labels – Clean, non-intrusive design. How It Helps Traders: Support & Resistance Trading – Round numbers often act as reversal or breakout zones. Scalping & Day Trading – Quickly identify psychological price barriers in fast-moving markets. Swing Trading & Long-Term Analysis – Spot major price clusters where buyers and sellers react. This indicator is suitable for Forex, Stocks, Crypto, and Futures traders who rely on psychological price levels for precision trading.
Pine Script® indicator
by BruceReign
1
Bollinger Band Long & Short Strategy### **Strategy Summary: Bollinger Band Long & Short Strategy** #### **Bollinger Band Setup:** - Uses a **20-period Simple Moving Average (SMA)** as the basis. - **Standard deviation multiplier = 1.5**. - Calculates **upper** and **lower Bollinger Bands**. #### **Entry Conditions:** - **Short Trade:** - A candle must fully form **above** the upper Bollinger Band. - The **low of this candle** must be broken by one of the **next four candles**. - A **short position** is then entered. - **Long Trade:** - A candle must fully form **below** the lower Bollinger Band. - The **high of this candle** must be broken by one of the **next four candles**. - A **long position** is then entered. #### **Risk Management:** - **Stop Loss:** - **Short Trade:** High of the candle that formed outside the upper Bollinger Band. - **Long Trade:** Low of the candle that formed outside the lower Bollinger Band. - **Position Sizing:** - The number of shares/contracts is calculated such that the **maximum loss per trade is INR 4000**. - **Risk-to-Reward Ratio:** - **Target Profit = 3x Risk (1:3 R:R).** - Once **1:2 profit is reached, the stop loss moves to breakeven**. - The trade is **closed at 1:3 profit**. #### **Additional Features:** - **Trades are only considered if the breakout happens within four candles** after the alert candle. - **Bollinger Bands are plotted for visibility** on the chart. Let me know if you need any modifications! 🚀
Pine Script® strategy
by Sachin_49
VOLD Ratio Histogram [Th16rry]How to Use the VOLD Ratio Histogram Indicator The VOLD Ratio Histogram Indicator is a powerful tool for identifying buying and selling volume dominance over a selected period. It provides traders with visual cues about volume pressure in the market, helping them make more informed trading decisions. How to Read the Indicator: 1. Green Bars (Positive Histogram): - Indicates that buying volume is stronger than selling volume. - Higher green bars suggest increasing bullish pressure. - Useful for confirming uptrends or identifying potential accumulation phases. 2. Red Bars (Negative Histogram): - Indicates that selling volume is stronger than buying volume. - Lower red bars suggest increasing bearish pressure. - Useful for confirming downtrends or identifying potential distribution phases. 3. Zero Line (Gray Line): - Acts as a neutral reference point where buying and selling volumes are balanced. - Crossing above zero suggests buying dominance; crossing below zero suggests selling dominance. How to Use It: 1. Confirming Trends: - A strong positive histogram during an uptrend supports bullish momentum. - A strong negative histogram during a downtrend supports bearish momentum. 2. Detecting Reversals: - Monitor for changes from positive (green) to negative (red) or vice versa as potential reversal signals. - Divergences between price action and histogram direction can indicate weakening trends. 3. Identifying Volume Surges: - Sharp spikes in the histogram may indicate strong buying or selling interest. - Use these spikes to investigate potential breakout or breakdown scenarios. 4. Filtering Noise: - Adjust the period length to control sensitivity: - Shorter periods (e.g., 10) are more responsive but may produce more noise. - Longer periods (e.g., 50) provide smoother signals, better for identifying broader trends. Recommended Markets: - Cryptocurrencies: Works effectively with real volume data from exchanges. - Forex: Useful with tick volume, though interpretation may vary. - Stocks & Commodities: Particularly effective for analyzing high-volume assets. Best Practices: - Combine the VOLD Ratio Histogram with other indicators like moving averages or RSI for confirmation. - Use different period lengths depending on your trading style (scalping, swing trading, long-term investing). - Observe volume spikes and divergences to anticipate potential market moves. The VOLD Ratio Histogram Indicator is ideal for traders looking to enhance their volume analysis and gain a deeper understanding of market dynamics.
Pine Script® indicator
by Th16rry
Cyclical Momentum Pivots V2Cyclical Momentum Pivots V2 /b] Overview Welcome to Cyclical Momentum Pivots V2—a next-generation momentum indicator engineered to surpass traditional tools like MACD and standard cRSI with its dynamic adaptability and cutting-edge cycle analysis. Optimized for volatile assets like XRP on a 2-hour (2H) timeframe, this indicator leverages advanced Hurst cycle integration and a dual-signal system (intent and confirmation) to pinpoint momentum shifts with unparalleled accuracy. Below, we’ll explore its operation using a 2H XRP chart as a live example, showcasing why it’s a game-changer for crypto trading and beyond. Key Features & Benefits a) Dynamic Nature for Superior Accuracy Unlike static indicators like MACD or traditional cRSI, Cyclical Momentum Pivots V2 dynamically adjusts its cycle length based on real-time price action. On a 2H XRP chart, the dominant cycle length (domCycle) adapts between 10 and 30 bars, reflecting XRP’s rapid momentum shifts. This fluidity ensures signals align with the market’s current rhythm—far more precise than MACD’s fixed periods or cRSI’s rigid lookbacks. b) Hurst Cycles for Enhanced Precision The indicator incorporates Hurst exponent analysis, a powerful tool for identifying cyclical patterns in price data. On XRP 2H, Hurst cycles refine momentum signals by filtering noise, ensuring trend changes—like those in early March 2025—align with underlying market rhythms. This precision catches reversals that simpler indicators miss, giving traders a deeper edge. c) Intent and Confirmation Signals Explained The dual-signal system is a standout feature: Intent Signals: Appear instantly at crossover points as early warnings. On XRP 2H, a solid turquoise upward marker (#82D5F6) below the bar signals a potential low band crossover (bullish), while a solid yellow downward marker (#FFFF00) above flags a high band crossover (bearish). For example, on March 19th, 2025, a yellow intent signal hinted at a top-band crossunder. Confirmation Signals: Follow one bar later if cRSI moves >3%, locking in the trend. Larger solid turquoise or yellow markers confirm the move—see March 25th, 2025, where a confirmed yellow signal validated a bearish shift. Additionally, 50% band crossovers (mid-range pivots) use semi-transparent markers (55% transparency) for nuanced momentum insights. d) Cycle Changes as Bear/Bull Indicators Cycle length shifts (domCycle) reveal market regimes. On XRP 2H, an increase (green circle with white number below the bar) signals lengthening cycles, often tied to bullish consolidation—check the buildup before March’s rally. A decrease (red circle above) indicates shortening cycles, typical of bearish exhaustion—visible post-March 25th downturn. These shifts guide your bias in real time. e) Multiple Signals in Close Proximity When signals cluster, they amplify confidence. On XRP 2H around mid-March 2025, a flurry of intent signals, confirmed crossovers, and a domCycle decrease within a few bars screamed bearish momentum—confirmed by XRP’s drop. This convergence, paired with whale-driven pumps (dark green flags) or dumps (dark red flags), is your cue to trust the trend. f) Crypto-Optimized Design with Multi-Asset Flexibility Built for cryptocurrencies like XRP, the indicator thrives in high-volatility environments. Its default settings are tuned for 2H crypto charts, balancing responsiveness and stability. However, it adapts to stocks, forex, and commodities via customizable inputs—see the table below for tailored values. Input Values for Different Timeframes (Crypto-Optimized) www.dropbox.com Customizing Inputs for Asset Classes The Inputs tab offers flexibility: Use Auto Dominant Cycle Length: Default true for crypto’s dynamic cycles (e.g., XRP). Set to false and adjust Manual Dominant Cycle Length (e.g., 50) for slower assets like stocks. Cycle Smoothing EMA Period: Default 3 for XRP’s volatility—try 5-7 for smoother markets like forex. Volume/Price Thresholds: Base Volume Threshold (2.0) and Base Price Change % Threshold (1.5) suit XRP 2H. Increase for high-volume assets (e.g., BTC) or decrease for low-volatility (e.g., forex). Use Volume Weighted Candles: Default true—prompts a switch to VWC for optimal XRP 2H results. Toggle off if volume data is sparse (e.g., forex line charts). How to Use on XRP 2H Apply the Indicator: Add Cyclical Momentum Pivots V2 to your 2H XRP chart. Watch Intent Signals: Turquoise upward markers (bullish) or yellow downward markers (bearish) offer early heads-ups. Confirm with Larger Signals: Solid markers one bar later validate momentum—key on March 19th/25th, 2025. Track Cycle Changes: Green (bullish lengthening) or red (bearish shortening) circles signal regime shifts. Combine Signals: Clusters near whale flags (dark green/dark red) confirm XRP’s direction. Adjust Inputs: Fine-tune for XRP or adapt for other assets. Why It Beats MACD & cRSI On XRP 2H, MACD lags with fixed EMAs, missing rapid swings, while standard cRSI lacks cycle depth. Cyclical Momentum Pivots V2 adapts dynamically, integrates Hurst cycles, and delivers intent/confirmation precision—offering actionable insights where others falter.
Pine Script® indicator
by albertmay
Mean Reversion with Volume AnalysisKey Features of This Script: Adaptive Parameters RSI thresholds adjust based on market volatility Uses ATR to measure current volatility Volume Confirmation Only enters trades when volume is above average (vol_ratio > vol_threshold) Volume spike helps confirm potential reversions Multi-Timeframe Analysis Optional higher timeframe confirmation Ensures you’re not fighting against the larger trend Volatility Filters Uses normalized ATR to avoid trading in extremely volatile conditions BB width provides visual indication of current volatility Visual Feedback Plots buy/sell signals directly on the chart Information panel shows key metrics Customization Tips: Adjust the length parameter based on the timeframe you’re trading Modify bb_mult to be more aggressive (lower value) or conservative (higher value) The vol_threshold can be increased for stricter volume confirmation Fine-tune the ATR filter (0.03 in the script) based on your risk tolerance This script provides both visual signals and automated strategy execution. You can use it in TradingView’s strategy tester to backtest its performance on different assets and timeframes.
Pine Script® strategy
by gadge75
David Capital | Power Of 3## David Capital | Power Of 3 *A Dynamic Structure-Based Indicator for Smart Market Manipulation Recognition* --- ### 📌 What it does This indicator implements a dynamic interpretation of the Power Of 3 (PO3) methodology. Unlike generic PO3 indicators, this version constructs consolidation zones based on mathematical structure, and detects precise manipulation setups with built-in confirmations. --- ### ⚙️ How it works - The indicator identifies consolidation zones using dynamic candle analysis (at least 5 inside bars). - After a breakout (manipulation) from the zone, it looks for a confirmation candle that: - Sweeps the high/low of the breakout candle (wick only), - Closes back within the zone, - Closes in the opposite direction (color flip). - When all conditions are met, a signal is triggered (LONG or SHORT). --- ### 🧠 Why it's different Most indicators leave discretion to the trader. This tool builds **a mechanical execution system** based on 3 years of backtesting logic and dynamic structure recognition. It filters out noise and only highlights statistically meaningful opportunities. --- ### 🎯 Entry Logic - Entry signals appear as labels on the chart (LONG / SHORT). - Alerts are sent at the close of confirmation candles. - Entry type can be set to "Aggressive" or "Passive" (future expansion). --- ### ✅ Usage Notes - Best used on 5M/15M charts for precision. - Does not repaint. - No other indicators are required. - Script is closed-source due to proprietary structure and logic.
Pine Script® indicator
by David_capital
SV Strategy📈 Quick Scalping Indicator This custom-built indicator is designed specifically for quick scalping and fast-paced intraday trading. It helps traders spot short-term price movements and identify high-probability entry and exit points with ease. 🔍 Key Features: Real-time Buy/Sell signals based on momentum and short-term price action. Optimized for 1-min, 3-min, 5-min, 1-hr and 4-hr timeframes. Effective in both trending and ranging market conditions. Lightweight and minimal — keeps your chart clean and focused. ✅ How to Use: Use this tool alongside basic support/resistance and volume for best results. Ideal for scalping BTC, ETH, and high-liquidity altcoins on spot or futures. Avoid trading during high-impact news events for more accurate signals. ⚠️ Disclaimer: This indicator is for educational and informational purposes only. Always do your own research and use proper risk management when trading.
Pine Script® indicator
by SVTECHNICALCLUB
Arthavidhi Time cycle*Explanation of "Arthavidhi Time Cycle" Script* The **"Arthavidhi Time Cycle"** script is a **technical analysis tool** designed for **TradingView**, which helps traders identify key support and resistance levels using **Gann Fan angles** and **time cycles**. It is particularly useful for understanding market trends based on historical high and low pivot points. --- ## **How to Use the Script?** ### ✅ **1. Understanding the Gann Fan Angles** - The script **automatically detects** **major pivot highs and lows** and draws **Gann fan lines** from those points. - It plots **important Gann angles**, such as **1/1, 1/2, 1/3, 1/4, 2/1, 3/1, 4/1, 8/1**, which act as dynamic support and resistance levels. - **Breakouts above or below these angles indicate trend continuation or reversal zones.** ### ✅ **2. Customizable Color & Transparency Settings** - Users can **change colors** for different angles to suit their preference. - **Transparency** of the lines and background fills can be adjusted to make the chart visually appealing. ### ✅ **3. Identifying Pivot Points** - The script **automatically detects recent highs and lows** based on a **pivot period** (default = 5). - These pivot points are used to **draw Gann fans** and **calculate trend projections**. ### ✅ **4. Labeling & Styling** - The script allows users to **toggle labels** (e.g., **1/1, 2/1, 1/2, etc.**) for easier reference. - It includes options for **different line styles** (**solid, dashed, or dotted**). ### ✅ **5. Time Cycle Consideration** - The script calculates historical **high-low cycles** based on a **loopback period** (default = 360 bars). - This helps traders **visualize market structure over time**. --- ## **How to Interpret the Analysis?** 1. **If price is above the 1/1 line**, the market is in a **bullish trend**. 2. **If price is below the 1/1 line**, the market is in a **bearish trend**. 3. **A breakout above a major Gann angle (e.g., 1/1 or 2/1) signals further upside potential.** 4. **A breakdown below a major Gann angle (e.g., 1/1 or 1/2) signals a downtrend continuation.** --- ## **Ideal Use Cases** - **Swing Trading & Position Trading** 📊 - **Identifying Reversal Points & Breakouts** 🔄 - **Gann-Based Market Analysis** 📈 - **Understanding Time Cycles in the Market** ⏳ This script is **powerful for traders** who want to **combine price action with Gann principles** to make informed decisions. 🚀 #Arthavidhi #GannFan #TimeCycle #TradingView #StockMarket #TechnicalAnalysis
Pine Script® indicator
by Arthavidhi
Killzones (UTC+3) by Roy באנגלית (Professional Style): This script highlights the key Forex/Indices trading Killzones in Israel Time (UTC+3), including background colors and dynamic labels for: Asian Session: 02:00–08:00 London Open: 10:00–12:00 New York Open: 14:00–17:00 London Close: 18:00–19:00 These are the hours with high institutional activity and increased market volatility – ideal for smart intraday setups. ✨ תיאור הסקריפט: סקריפט זה מציג באופן ויזואלי את אזורי המסחר הפעילים ("Killzones") לפי שעון ישראל (UTC+3), כולל רקע צבעוני ותוויות טקסט לכל אזור חשוב: 🟤 Asian Killzone – בין השעות 02:00–08:00 🟢 London Killzone – בין השעות 10:00–12:00 🔵 New York Killzone – בין השעות 14:00–17:00 🔴 London Close – בין השעות 18:00–19:00 אידיאלי לסוחרים המחפשים לזהות מתי השוק נמצא בשיא התנודתיות והנפח.
Pine Script® indicator
by edenalgrisi1
Multi EMA + VWAP LevelsThis script combines the power of Exponential Moving Averages (EMAs) and VWAPs to give you a clear view of market trends, momentum, and institutional value zones — all in one simple visual layout. 📈 What It Includes: ✅ 4 customizable EMAs: EMA 20 (Green) – Short-term trend EMA 50 (Orange) – Mid-term support/resistance EMA 150 (Red) – Longer trend confirmation EMA 200 (White) – Institutional level trend direction ✅ 3 VWAPs with toggle control: Daily VWAP (Purple) – Intraday institutional average Weekly VWAP (Teal) – Swing-trader reference Monthly VWAP (Fuchsia) – Macro value zone 🎯 How to Use: Follow the trend with EMAs — when aligned, trend strength is confirmed. Use VWAPs as dynamic support/resistance and value areas. Avoid chasing price — wait for retests near EMAs or VWAP zones. Combine this with price action or volume signals for precision entries. 💡 Ideal For: Day traders Swing traders Anyone looking to identify key dynamic levels for better entries/exits
Pine Script® indicator
by OliveOne
Support and Resistance with High Volume Candles + Touch Count# **Indicator Notes: S& R with High Volume Candles + Touch Count - Mehta-** ## **Overview** This indicator identifies potential **support** and **resistance** levels based on **high-volume candles** and tracks the number of times price touches these levels within a user-defined lookback period. ### **Key Features:** 1. **High-Volume Candle Detection:** - **Support** is identified from high-volume **green (bullish)** candles. - **Resistance** is identified from high-volume **red (bearish)** candles. 2. **Touch Count:** - Tracks how many times price revisits a support/resistance level within a specified lookback period. - Helps assess the strength of a level (more touches may indicate stronger significance). 3. **Customizable Parameters:** - **Period:** Adjusts the lookback for average volume calculation. - **Volume Multiplier:** Sets the threshold for high-volume detection. - **Touch Count Lookback:** Defines how many bars back to count touches. - **Line Colors & Label Position:** Customize visual appearance. ## **How to Use** - **Support/Resistance Breakouts:** Watch for price closing beyond these levels with confirmation. - **Bounce Trading:** Look for reactions (bounces/rejections) near identified levels. - **Touch Count Insight:** Higher touch counts may indicate stronger levels. --- ## **Disclaimer** ### **Risk Warning:** Trading involves substantial risk and may not be suitable for all investors. The use of this indicator does not guarantee profits or eliminate risks associated with trading. ### **Limitations:** 1. **Historical Performance ≠ Future Results:** Past price behavior does not ensure future outcomes. 2. **False Signals:** The indicator may generate levels that do not hold. 3. **Market Conditions:** Works best in trending markets; may produce less reliable signals in choppy conditions. ### **Recommendations:** - Use in conjunction with other technical analysis tools (e.g., trendlines, moving averages). - Always apply proper risk management (stop-loss, position sizing). - Test in a demo account before live trading. ### **No Financial Advice:** This indicator is for educational purposes only and should not be considered financial advice. Consult a licensed financial advisor before making trading decisions. DO NOT TRADE BASED ON THIS INDICATOR. TRADING IS A RISK PROCESS
Pine Script® indicator
by csrao1000
Trend Strength MeterThe Trend Strength Meter (TSM) is a powerful and versatile indicator designed to help traders identify market trends, measure their strength, and detect potential reversals with ease. This indicator combines the power of moving averages, divergence detection, and a clean, customizable dashboard to provide actionable insights for traders of all levels. How It Works Trend Strength Calculation: 1. The TSM calculates the trend strength using the difference between two Exponential Moving Averages (EMAs): a fast EMA (default: 20) and a slow EMA (default: 50). 2. The difference is expressed as a percentage of the slow EMA, providing a clear measure of the trend's strength and direction. Histogram Visualization: 1. A color-coded histogram visually represents the trend strength: Green: Bullish trend Red: Bearish trend Gray: Neutral or no significant trend 2. A smoothed trend strength line (SMA of the trend strength) is also plotted for better clarity. Divergence Detection: 1. The indicator detects bullish and bearish divergences using the RSI (Relative Strength Index) and price action. 2. Bullish Divergence: Price makes a lower low, but RSI makes a higher low, signaling potential upward momentum. 3. Bearish Divergence: Price makes a higher high, but RSI makes a lower high, signaling potential downward momentum. => Divergences are marked with arrows on the chart: Green Arrow: Bullish divergence Red Arrow: Bearish divergence Dashboard: 1. A clean and informative dashboard displays key information: Trend Strength Value: The current strength of the trend Trend Direction: Bullish, Bearish, or Neutral Last Signal: Buy, Sell, or None (based on divergence signals) The dashboard is fully customizable and can be positioned anywhere on the chart (e.g., top-right, bottom-left, center, etc.). Key Features 1. Trend Strength Measurement: Quickly identify the strength and direction of the trend. 2. Divergence Detection: Spot potential reversals before they occur with bullish and bearish divergence signals. 3. Customizable Dashboard: Move the dashboard to your preferred location on the chart for better visibility. 4. User-Friendly Design: Clean visuals and intuitive color coding make it easy to interpret market conditions. 5. Actionable Signals: Provides clear Buy/Sell signals based on divergence, helping traders make informed decisions. How to Use 1. Trend Confirmation: Use the histogram and trend strength value to confirm the current market trend. Green bars indicate a bullish trend, while red bars indicate a bearish trend. 2. Divergence Signals: Look for divergence arrows (green for bullish, red for bearish) to anticipate potential reversals. Combine divergence signals with other technical analysis tools for higher accuracy. 3. Dashboard Insights: Monitor the dashboard for real-time updates on trend strength, direction, and the latest signal. Use the "Last Signal" (Buy/Sell) to validate your trading decisions. 4. Custom Settings: Adjust the EMA lengths and divergence lookback period to suit your trading style and timeframe. Position the dashboard anywhere on the chart for convenience. Best Practices 1. Use the TSM in conjunction with other indicators or price action analysis for confirmation. 2. Test the indicator on different timeframes to find the one that works best for your strategy. 3. Always practice proper risk management when trading. Disclaimer This indicator is a tool to assist in technical analysis and should not be used as a standalone trading strategy. Past performance is not indicative of future results. Always conduct your own research and consult with a financial advisor before making trading decisions.
Pine Script® indicator
by darshakssc