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Dow Theory Trend Strategy v3Title: Dow Theory Trend Strategy Description: This Pine Script implements a trading strategy based on classic Dow Theory principles for trend identification. It analyzes pivot highs and lows to determine uptrends (Higher Highs & Higher Lows) and downtrends (Lower Highs & Lower Lows), entering trades when the trend direction is confirmed to change. This version (v3) includes several key features and improvements: Core Dow Theory Logic: Identifies trends based on confirmed sequences of pivot points detected using ta.pivothigh() and ta.pivotlow(). Improved Trend Persistence: The script confirms an uptrend only on both a Higher High (HH) and Higher Low (HL), and a downtrend on both a Lower High (LH) and Lower Low (LL). Crucially, if neither condition is met, the script maintains the previous trend state (trendDirection ), leading to smoother trend following compared to logic that frequently resets to neutral. Manual Trend Override: A user input allows you to override the automatic Dow Theory trend detection. You can set the strategy to: Auto: Follow the calculated Dow Theory trend signals. Long Only: Only take long entry signals. Short Only: Only take short entry signals. Tick-Based Stop Loss & Take Profit: Optional Stop Loss (SL) and Take Profit (TP) levels can be enabled. These are set in Ticks from the entry price using strategy.exit(). Important: You must understand what a 'tick' (syminfo.mintick) represents for the specific instrument you are trading when setting the stopLossTicks and takeProfitTicks inputs (e.g., for EURUSD with mintick=0.00001, a 20 pip SL = 200 ticks). Clear Visualizations: Background color changes to reflect the detected Dow Theory trend (Blue for Up, Red for Down, Gray for Undetermined). Optional markers for confirmed pivot points. Optional labels indicating confirmed trend change signals (potential entry points). Code Structure Note: This version defines the options for the "Manual Trend Mode" input directly inline within the input.string() function to potentially improve compatibility for users who experienced issues with copy-pasting previous versions that used a separate array definition. How it Works: Pivots are identified using the pivotLookback period (note the inherent lag). The trend direction (trendDirection) is updated based on HH/HL or LH/LL confirmations, otherwise, it persists. Strategy enters long on changedToUp (if allowed by mode) and short on changedToDown (if allowed by mode). If enabled, strategy.exit places SL and TP orders based on the specified number of ticks immediately upon entry. Inputs: Calculation Settings: pivotLookback: Controls pivot detection sensitivity and lag. Display Settings: Show Pivot Points: Toggle pivot markers. Show Trend Change Signals: Toggle entry signal labels. Strategy Settings: Manual Trend Mode: Select "Auto", "Long Only", or "Short Only". Risk Management: Use Stop Loss: Enable/disable SL. Stop Loss (Ticks): Set SL distance in ticks. Use Take Profit: Enable/disable TP. Take Profit (Ticks): Set TP distance in ticks. How to Use: Add the script to your TradingView chart. Access the Settings panel for the script. Configure the pivotLookback appropriate for your timeframe and instrument. Choose your desired Manual Trend Mode. Enable and configure the Stop Loss (Ticks) and Take Profit (Ticks) carefully, based on the instrument's tick size and your risk management plan. Use the Strategy Tester tab to backtest performance on historical data. Disclaimer: This script is provided for educational and informational purposes only. Trading strategies based on Dow Theory involve inherent lag. Past performance is not indicative of future results. Financial markets involve risk, and you should not trade with capital you cannot afford to lose. Always conduct thorough backtesting and implement robust risk management practices before considering any live trading. This script does not constitute financial advice.
Pine Script® strategy
by Salaryman_G
EMA vs SMA Crossover (Toggle 15/20) by AaronEscaThis custom indicator by AaronEsca lets you toggle between a 15-period or 20-period EMA/SMA crossover to spot trend shifts and momentum changes earlier. Features: Choose between 15 or 20 period moving averages using a simple dropdown. Highlights when the EMA crosses above or below the SMA — a signal of trend momentum or exhaustion. Includes visual fill between the two lines for instant trend direction insight. Alerts included for bullish and bearish crossovers. Designed for use on the 4H, 1H, and Daily timeframes, but flexible for any strategy. This tool is perfect for swing traders, scalpers, or anyone wanting early confirmation of a potential reversal or momentum break.
Pine Script® indicator
by aaronescalante07
IDX - 5UPThe UDX-5UP is a custom indicator designed to assist traders in identifying trends, entry and exit signals, and market reversal moments with greater accuracy. It combines price analysis, volume, and momentum (RSI) to provide clear buy ("Buy") and sell ("Sell") signals across any asset and timeframe, whether you're a scalper on the 5M chart or a swing trader on the 4H chart. Inspired by robust technical analysis strategies, the UDX-5UP is ideal for traders seeking a reliable tool to operate in volatile markets such as cryptocurrencies, forex, stocks, and futures. Components of the UDX-5UP The UDX-5UP consists of three main panels that work together to provide a comprehensive view of the market: Main Panel (Price): Pivot Supertrend: A dynamic line that changes color to indicate the trend. Green for an uptrend (look for buys), red for a downtrend (look for sells). SMAs (Simple Moving Averages): Two SMAs (8 and 21 periods) to confirm the trend direction. When the SMA 8 crosses above the SMA 21, it’s a bullish signal; when it crosses below, it’s a bearish signal. Entry/Exit Signals: "Buy" (green) and "Sell" (red) labels are plotted on the chart when entry or exit conditions are met. Volume Panel: Colored Volume Bars: Green bars indicate dominant buying volume, while red bars indicate dominant selling volume. Volume Moving Average (MA 20): A blue line that helps identify whether the current volume is above or below the average, confirming the strength of the movement. RSI Panel: RSI (Relative Strength Index): Calculated with a period of 14, with overbought (70) and oversold (30) lines to identify momentum extremes. Divergences: The indicator detects divergences between the RSI and price, plotting signals for potential reversals. How the UDX-5UP Works The UDX-5UP uses a combination of rules to generate buy and sell signals: Buy Signal ("Buy"): The Pivot Supertrend changes from red to green. The SMA 8 crosses above the SMA 21. The volume is above the MA 20, with green bars (indicating buying pressure). The RSI is rising and, ideally, below 70 (not overbought). Example: On the 4H chart, the price of Tether (USDT) is at 0.05515. The Pivot Supertrend turns green, the SMA 8 crosses above the SMA 21, the volume shows green bars above the MA 20, and the RSI is at 46. The UDX-5UP plots a "Buy". Sell Signal ("Sell"): The Pivot Supertrend changes from green to red. The SMA 8 crosses below the SMA 21. The volume is above the MA 20, with red bars (indicating selling pressure). The RSI is falling and, ideally, above 70 (overbought). Example: On the 4H chart, the price of Tether rises to 0.05817. The Pivot Supertrend turns red, the SMA 8 crosses below the SMA 21, the volume shows red bars, and the RSI is above 70. The UDX-5UP plots a "Sell". RSI Divergences: The indicator identifies bullish divergences (price makes a lower low, but RSI makes a higher low) and bearish divergences (price makes a higher high, but RSI makes a lower high), plotting alerts for potential reversals. Adjustable Settings The UDX-5UP is highly customizable to suit your trading style: Pivot Supertrend Period: Default is 2. Increase to 3 or 4 for more conservative signals (fewer false positives, but more lag). SMA Periods: Default is 8 and 21. Adjust to 5 and 13 for smaller timeframes (e.g., 5M) or 13 and 34 for larger timeframes (e.g., 1D). RSI Period: Default is 14. Reduce to 10 for greater sensitivity or increase to 20 for smoother signals. Overbought/Oversold Levels: Default is 70/30. Adjust to 80/20 in volatile markets. Display Panels: You can enable/disable the volume and RSI panels to simplify the chart. How to Use the UDX-5UP Identify the Trend: Use the Pivot Supertrend and SMAs to determine the market direction. Uptrend: look for buys. Downtrend: look for sells. Confirm with Volume and RSI: For buys: Volume above the MA 20 with green bars, RSI rising and below 70. For sells: Volume above the MA 20 with red bars, RSI falling and above 70. Enter the Trade: Enter a buy when the UDX-5UP plots a "Buy" and all conditions are aligned. Enter a sell when the UDX-5UP plots a "Sell" and all conditions are aligned. Plan the Exit: Use Fibonacci levels or support/resistance on the price chart to set targets. Exit the trade when the UDX-5UP plots an opposite signal ("Sell" after a buy, "Buy" after a sell). Tips for Beginners Start with Larger Timeframes: Use the 4H or 1D chart for more reliable signals and less noise. Combine with Other Indicators: Use the UDX-5UP with tools like Fibonacci or the Candles RSI (another powerful indicator) to confirm signals. Practice in Demo Mode: Test the indicator in a demo account before using real money. Manage Risk: Always use a stop-loss and don’t risk more than 1-2% of your capital per trade. Why Use the UDX-5UP? Simplicity: Clear "Buy" and "Sell" signals make trading accessible even for beginners. Versatility: Works on any asset (crypto, forex, stocks) and timeframe. Multiple Confirmations: Combines price, volume, and momentum to reduce false signals. Customizable: Adjust the settings to match your trading style. Author’s Notes The UDX-5UP was developed based on years of trading and technical analysis experience. It is an evolution of tested strategies, designed to help traders navigate volatile markets with confidence. However, no indicator is infallible. Always combine the UDX-5UP with proper risk management and fundamental analysis, especially in unpredictable markets. Feedback is welcome – leave a comment or reach out with suggestions for improvements!
Pine Script® indicator
by Marrulk
Supertrend + MACD with Advanced FiltersDetailed Guide 1. Indicator Overview Purpose: This enhanced indicator combines Supertrend and MACD to signal potential trend changes. In addition, it now includes several extra filters for more reliable signals: Multi-Timeframe (MTF) Confirmation: Checks a higher timeframe’s trend. ADX (Momentum) Filter: Ensures the market is trending strongly. Dynamic Factor Adjustment: Adapts the Supertrend sensitivity to current volatility. Volume Filter: Verifies that current volume is above average. Each filter can be enabled or disabled according to your preference. How It Works: The Supertrend calculates dynamic support/resistance levels based on ATR and an adjustable factor, while MACD identifies momentum shifts via its crossovers. The additional filters then confirm whether the conditions meet your criteria for a trend change. If all enabled filters align, the indicator plots a shape and triggers an alert. 2. Supertrend Component with Dynamic Factor Base Factor & ATR Period: The Supertrend uses these inputs to compute its dynamic bands. Dynamic Factor Toggle: When enabled, the factor is adjusted by comparing the current ATR to its simple moving average. This makes the indicator adapt to higher or lower volatility conditions, helping to reduce false signals. 3. MACD Component Parameters: Standard MACD settings (Fast MA, Slow MA, Signal Smoothing) determine the responsiveness of the MACD line. Crossovers between the MACD line and its signal line indicate potential trend reversals. 4. Multi-Timeframe (MTF) Filter Function: If enabled, the indicator uses a higher timeframe’s simple moving average (SMA) to confirm the prevailing trend. Bullish Confirmation: The current close is above the higher timeframe SMA. Bearish Confirmation: The current close is below the higher timeframe SMA. 5. ADX Filter (Momentum) Custom Calculation: Since the built-in ta.adx function may not be available, a custom ADX is calculated. This involves: Determining positive and negative directional movements (DMs). Smoothing these values to obtain +DI and -DI. Calculating the DX and then smoothing it to yield the ADX. Threshold: Only signals where the ADX exceeds the set threshold (default 20) are considered valid, ensuring that the market is trending strongly enough. 6. Volume Filter Function: Checks if the current volume exceeds the average volume (SMA) multiplied by a specified factor. This helps confirm that a price move is supported by sufficient trading activity. 7. Combined Signal Logic & Alerts Final Signal: A bullish signal is generated when: MACD shows a bullish crossover, Supertrend indicates an uptrend, And all enabled filters (MTF, ADX, volume) confirm the signal. The bearish signal is generated similarly in the opposite direction. Alerts: Alert conditions are set so that TradingView can notify you via pop-up, email, or SMS when these combined conditions are met. 8. User Adjustments Toggle Filters: Use the on/off switches for MTF, ADX, and Volume filters as needed. Parameter Tuning: Adjust the ATR period, base factor, higher timeframe settings, ADX period/threshold, and volume multiplier to match your trading style and market conditions. Backtesting: Always backtest your settings to ensure that they perform well with your strategy.
Pine Script® indicator
by kiemonline2016
TrendWave Bands [BigBeluga]This is a trend-following indicator that dynamically adapts to market trends using upper and lower bands. It visually highlights trend strength and duration through color intensity while providing additional wave bands for deeper trend analysis. 🔵Key Features: Adaptive Trend Bands: ➣ Displays a lower band in uptrends and an upper band in downtrends to indicate trend direction. ➣ The bands act as dynamic support and resistance levels, helping traders identify potential entry and exit points. Wave Bands for Additional Analysis: ➣ A dashed wave band appears opposite the main trend band for deeper trend confirmation. ➣ In an uptrend, the upper dashed wave band helps analyze momentum, while in a downtrend, the lower dashed wave band serves the same purpose. Gradient Color Intensity: ➣ The trend bands have a color gradient that fades as the trend continues, helping traders visualize trend duration. ➣ The wave bands have an inverse gradient effect—starting with low intensity at the trend's beginning and increasing in intensity as the trend progresses. Trend Change Signals: ➣ Circular markers appear at trend reversals, providing clear entry and exit points. ➣ These signals mark transitions between bullish and bearish phases based on price action. 🔵Usage: Trend Following: Use the lower band for confirmation in uptrends and the upper band in downtrends to stay on the right side of the market. Trend Duration Analysis: Gradient wavebands give an idea of ​​the duration of the current trend — new trends will have high-intensity colored wavebands and as time goes on, trends will fade. Trend Reversal Detection: Circular markers highlight trend shifts, making it easier to spot entry and exit opportunities. Volatility Awareness: Volatility-based bands help traders adjust their strategies based on market volatility, ensuring better risk management. TrendWave Bands is a powerful tool for traders seeking to follow market trends with enhanced visual clarity. By combining trend bands, wave bands, and gradient-based color scaling, it provides a detailed view of market dynamics and trend evolution.
Pine Script® indicator
by BigBeluga
10
ATR SL and TP with Candle Freeze & DataWindowThis indicator uses the Average True Range (ATR) to automatically calculate your stop loss (SL) and take profit (TP) levels based on the current market volatility and your chosen multipliers. Here's how it works: ATR Calculation: The indicator computes the ATR, which measures the average market volatility over a set period. This value helps gauge how much the price typically moves. SL and TP Determination: Depending on whether you're in a long or short trade, the SL and TP are calculated relative to the current price: For a long trade, the stop loss is set below the current price (by subtracting a multiple of the ATR) and the take profit is set above it (by adding a multiple of the ATR). For a short trade, the calculations are reversed. Candle Freeze Feature: Once a new candle starts, the calculated SL and TP values are "frozen" for that candle. This means they remain constant during the candle's formation, preventing them from updating continuously as the price fluctuates. This can make it easier to plan your trades without the levels shifting mid-candle. Data Window & Labels: The SL and TP values are plotted on the chart as lines and displayed in labels for quick reference. Additionally, they appear in TradingView's Data Window, so you can easily copy the price numbers if needed. Overall, the indicator is designed to help you manage your trades by setting dynamic, volatility-adjusted SL and TP levels that only update at the start of each new candle, aligning with your chosen timeframe. Let me know if you have any more questions or need further adjustments!
Pine Script® indicator
by kiemonline2016
Ruben.Ramiro - Momentum Breakout StrategyThis strategy is designed to capture breakout movements aligned with the prevailing trend, using a combination of Exponential Moving Averages (EMAs), Relative Strength Index (RSI), and Average True Range (ATR) for entry signals and risk management. It includes clear long/short entry conditions, dynamic stop-losses. 1. Trend Identification Uses two EMAs: • Fast EMA (default 20 periods) • Slow EMA (default 50 periods) The trend is considered bullish if EMA Fast > EMA Slow, and bearish if EMA Fast < EMA Slow. 2. Momentum Filter (RSI) Applies a 14-period RSI to avoid entries during overbought/oversold conditions: • Avoids long entries when RSI > 70 (overbought) • Avoids short entries when RSI < 30 (oversold) 3. Breakout Logic Detects breakouts over a configurable period (default: 5 candles): • Resistance: Highest high over the last N periods (excluding the current one) • Support: Lowest low over the last N periods (excluding the current one) 4. Entry Conditions Long Entry: • Price breaks above recent resistance • Uptrend confirmed (EMA Fast > EMA Slow) • RSI not overbought Short Entry: • Price breaks below recent support • Downtrend confirmed (EMA Fast < EMA Slow) • RSI not oversold 5. Position Management Stop-Loss and Trailing Stop based on ATR: Stop-Loss: • For long: entry price - (ATR * SL multiplier) • For short: entry price + (ATR * SL multiplier) Trailing Stop: • Uses same ATR * trailing multiplier for both trail_points and trail_offset • Defaults for both SL and trailing multiplier: 1.5x ATR 6. Alerts (Webhook) JSON-formatted webhook alerts: • Long entry: Market buy order • Short entry: Market sell order 7. Visual Cues • Green triangle below bar for Long entries • Red triangle above bar for Short entries
Pine Script® strategy
by ruben_ramiro
30 Second Opening RangeDisplaying the first 30 seconds of RTH. Range high and low between 8:30 and 8:30:30 CST. (9:30 and 9:30:30 New York time.) The can be used as a directional basis and breakout strategy, to spot trends and entry/exit points. For the use on US Equities NQ, ES, YM. The option to adjust: • High and low line color • Mid line color • Background color • History (amount) *The indicator has limitations, based around your TradingView plan and amount of data shown.
Pine Script® indicator
by LeonidasTrades
SUPERTREND BASICSUPERTREND BASIC 2.0 The Supertrend Indicator is a popular trend-following tool used in trading to determine market direction based on price movements and volatility. It helps traders identify potential entry and exit points by plotting a continuous line above or below the price. The Supertrend shifts its position based on the Average True Range (ATR) and a multiplier, which adjusts its sensitivity to price fluctuations. How the Supertrend Works ATR-Based Calculation – The indicator relies on the ATR to measure market volatility. Upper and Lower Bands – It calculates trend levels based on the ATR and a user-defined multiplier. Trend Confirmation – If the price moves above the Supertrend line, it turns bullish (green), signaling a buy opportunity. If the price moves below the Supertrend line, it turns bearish (red), indicating a sell signal.
Pine Script® strategy
by QuantsTrades
Shadow EdgeShadow Edge Indicator Overview Shadow Edge is an advanced technical analysis tool that visualizes key price levels and statistical patterns based on multiple timeframe analysis. It helps traders identify potential support, resistance, and expansion zones by tracking historical price behavior at specific hours of the trading day. This indicator offers unique statistical insights by calculating average expansion levels and tracking market behavior patterns on an hourly basis. Unlike standard technical indicators, Shadow Edge combines historical price analysis with proprietary statistical calculations to identify high-probability zones for market reactions. Key Features • Previous High/Low Visualization : Displays previous session high and low levels with configurable line styles • Mean Expansion Levels : Calculates and displays average price expansion levels (MuEH/MuEL) based on historical data • Manipulation/Distribution Levels : Shows potential manipulation and distribution zones calculated from price action patterns • Sweep Detection : Alerts when price sweeps previous high or low levels with customizable offset • Multi-timeframe Analysis : Analyzes higher timeframe data and projects it onto your current chart • Statistical Tracking : Maintains a database of price behavior by hour to identify recurring patterns • Fully Customizable Visuals : Adjust colors, line styles, and transparency to match your chart setup Settings • Customize appearance of all elements including candles, lines, and labels • Toggle visibility of different price levels • Set alert conditions for level tests and sweeps • Configure historical bar lookback period • Optional stats display showing reliability percentages by hour Use Cases • Identify potential reversal zones at previous highs/lows • Anticipate likely price expansion based on statistical averages • Recognize manipulation and distribution patterns in price action • Set precise alerts for sweep events at key levels • Enhance your trading strategy with multi-timeframe analysis How to Use It 1. Initial Setup : Apply the indicator to your chart and configure the higher timeframe setting (default is 60 min) to match your trading style. 2. Level Identification : • Previous High (PH) and Previous Low (PL) levels show where price previously found support/resistance • Mean Expansion High (MuEH) and Low (MuEL) levels indicate statistically likely price boundaries • The Previous EQ level represents the equilibrium point between previous high and low 3. Trading Strategy Applications : • Look for price reactions when testing previous high/low levels • Use expansion levels (MuEH/MuEL) as potential take-profit targets • Monitor manipulation (-M, +M) and distribution (-D, +D) levels for potential reversal zones • Set alerts for sweeps of previous high/low levels to identify potential stop hunts 4. Statistical Analysis : • The optional stats table shows reliability percentages for different hours • Higher percentages indicate historically stronger adherence to the projected levels • Use this data to adjust your trade timing and risk management 5. Visual Customization : • Adjust colors and line styles to create a clean, easy-to-read chart • Toggle different elements on/off based on your specific trading approach • Reduce transparency settings if you prefer a more subtle visual overlay Important Notes • This indicator uses statistical calculations to identify price levels; past performance does not guarantee future results • For best results, use on liquid markets during their primary trading sessions • While the indicator provides statistical projections, always combine these signals with your own analysis and risk management strategy • The code containing the proprietary algorithms is protected as closed source to maintain its integrity Limitations • The indicator requires sufficient historical data to calculate accurate statistical levels • Performance may vary depending on market volatility and trading conditions • Level projections work best on standard chart types (not Heikin Ashi, Renko, etc.) • Sweep detections should be confirmed with price action before taking action Note : Contact me for a version of this indicator that can work on any Higher Timeframe.
Pine Script® indicator
by KatherinaNote
SMA Channel AlertsThe "SMA Channel with Alerts" indicator is designed to help traders visualize dynamic support and resistance zones based on a simple moving average (SMA). It computes the SMA on a user-specified timeframe and then applies user-configurable percentage deviations to generate a price channel. The channel consists of five lines: Central SMA: The primary moving average (default is 12-period on a daily timeframe). Upper Lines: Two lines plotted above the SMA, representing small and large positive percentage offsets. Lower Lines: Two lines plotted below the SMA, representing small and large negative percentage offsets. Key Features: Customizable SMA: Choose the SMA length. Select the timeframe for the SMA calculation. Specify the data source (default is closing price). Adjustable Percentage Offsets: Configure the upward offsets (small and large) as percentages. Configure the downward offsets (small and large) as percentages. Versatile Alert System: Set alerts for price crossing any channel line upward or downward. Receive individual alerts for each line when crossed in either direction. A consolidated alert option for any crossing across all channel lines. How to Use the Indicator: Configuration: Adjust the SMA settings (length, timeframe, source) to match your trading strategy. Set your desired percentage deviations for the channel lines. Alert Setup: Open TradingView's alert creation window. Choose the specific alert condition from the indicator (e.g., “Any Cross Upper Large (+)” or “Any Cross ANY Line”). Configure your alert preferences (notification type, sound, etc.). Trading Application: Use the channel lines to gauge potential support and resistance levels. Monitor the alerts for timely notifications when the price breaks through these key levels, signaling possible trend shifts or breakout opportunities. This indicator is ideal for traders looking for a visual method to monitor price action relative to a moving average-based channel and to automate alert notifications for better trade timing.
Pine Script® indicator
by Goldfinch_song