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[Gw]Adaptive RSI Candles V1 (Refined)//@version=5 indicator(title=' Adaptive RSI Candles V1 (Refined)', shorttitle='ARC RSI', overlay=false) // Inputs for RSI rsiLength = input.int(title='RSI Length', defval=14) multiplier = input.float(title='Range Multiplier:', defval=0.1) SHOW_RSI_LINE = input.bool(title='Show RSI Line?', defval=true) // RSI Calculation rsiValue = ta.rsi(close, rsiLength) // Calculate high and low values for RSI adaptive range var float rsiHigh = na var float rsiLow = na rsiHigh := na(rsiHigh ) ? rsiValue : (rsiValue >= rsiHigh ? rsiValue : rsiHigh ) rsiLow := na(rsiLow ) ? rsiValue : (rsiValue <= rsiLow ? rsiValue : rsiLow ) rsiRange = (rsiHigh - rsiLow) * multiplier // Adaptive average calculation for RSI var float adaptiveRsi = na adaptiveRsi := na(adaptiveRsi ) ? rsiValue : (rsiValue > adaptiveRsi + rsiRange ? rsiValue : (rsiValue < adaptiveRsi - rsiRange ? rsiValue : adaptiveRsi )) // Preventing repainting var float prevAdaptiveRsi = na prevAdaptiveRsi := ta.valuewhen(ta.change(adaptiveRsi) != 0, adaptiveRsi, 1) // Plot the adaptive RSI candles with reduced noise plotcandle(prevAdaptiveRsi, rsiHigh, rsiLow, adaptiveRsi, color=adaptiveRsi > prevAdaptiveRsi ? color.lime : color.red) // Option to plot the RSI line plot(title='RSI', series=SHOW_RSI_LINE ? rsiValue : na, color=color.blue, linewidth=1) // Plot Overbought, Oversold, and 50-Level Lines hline(70, 'Overbought', color=color.red, linestyle=hline.style_dotted) hline(50, 'Mid-Level', color=color.gray, linestyle=hline.style_solid) hline(30, 'Oversold', color=color.green, linestyle=hline.style_dotted) // Buy/Sell Labels Based on RSI 50-Level Crossover longCondition = ta.crossover(rsiValue, 50) shortCondition = ta.crossunder(rsiValue, 50) if (longCondition) label.new(bar_index, rsiValue, "Buy", color=color.green, textcolor=color.white, size=size.small, style=label.style_label_up) if (shortCondition) label.new(bar_index, rsiValue, "Sell", color=color.red, textcolor=color.white, size=size.small, style=label.style_label_down)
Pine Script™ indicator
by Ganeshwanave
New Day [UkutaLabs]█ OVERVIEW The New Day indicator is a useful trading tool that automatically identifies the first bar of each trading day for the user’s convenience. █ USAGE At the beginning of each trading day, this indicator will automatically create a line that will display the first bar of the trading day. This is a useful way to visualize where each day begins and ends. When this indicator is used on a stock or futures chart, the first bar of the session will be identified as the first bar of the trading day. If this indicator is used on crypto or forex charts, which are tradable for 24 hours, the indicator will identify the bar closest to midnight as the first bar of the trading day. █ SETTINGS Configuration • Line Color: This setting allows the user to determine the color of the New Day line. • Line Width: This setting allows the user to determine the width of the New Day line. • Line Style: This setting allows the user to determine the style of the New Day line.
Pine Script™ indicator
by UkutaLabs
Hull MA Crossover Band //@version=5 indicator("Hull MA Crossover Band", overlay=true) // Inputs src = input.source(close, title="Source") length = input.int(55, title="Hull MA Length") smoothing = input.int(3, title="Smoothing Length") // Additional smoothing to narrow bandwidth // Function: Hull Moving Average (HMA) Calculation HMA(_src, _length) => ta.wma(2 * ta.wma(_src, _length / 2) - ta.wma(_src, _length), math.round(math.sqrt(_length))) // Calculate Hull MA with additional smoothing hullMA = HMA(src, length) smoothedHullMA = ta.sma(hullMA, smoothing) // Applying extra smoothing for stability // Define color based on position of candle relative to the Hull MA hullColor = close > smoothedHullMA ? color.green : color.red // Plot the Hull MA band with color indicating position of price plot(smoothedHullMA, color=hullColor, linewidth=2, title="Hull MA Band")
Pine Script™ indicator
by Ganeshwanave
TAExtModLibrary "TAExtMod" Indicator functions can be used in other indicators and strategies. This will be extended by time with indicators I use in my strategies and studies. All indicators are highly configurable with good defaults. jma(src, length, phase, power)   Jurik Moving Average   Parameters:      src (float) : The source of the moving average      length (simple int) : The length of the moving average calculation      phase (simple int) : The phase of jurik MA calculation (-100..100)      power (simple float) : The power of jurik MA calculation   Returns: The Jurik MA series atrwo(length, stdev_length, stdev_mult, ma_type)   ATR without outliers   Parameters:      length (simple int) : The length of the TR smoothing      stdev_length (simple int) : The length of the standard deviation, used for detecting outliers      stdev_mult (simple float) : The multiplier of the standard deviation, used for detecting outliers      ma_type (simple string) : The moving average type used for smoothing   Returns: The ATR value atrwma(src, length, type, atr_length, stdev_length, stdev_mult)   ATR without outlier weighted moving average   Parameters:      src (float) : The source of the moving average      length (simple int) : The length of the moving average      type (simple string) : The type of the moving average, possible values: SMA, EMA, RMA      atr_length (simple int) : The length of the ATR      stdev_length (simple int) : The length of the standard deviation, used for detecting outliers      stdev_mult (simple float) : The multiplier of the standard deviation, used for detecting outliers   Returns: The moving average series anyma(src, length, type, offset, sigma, atr_length, stdev_length, stdev_mult, phase, power)   Moving Average by type   Parameters:      src (float) : The source of the moving average      length (simple int) : The length of the moving average calculation      type (simple string) : The type of the moving average      offset (simple float) : Used only by ALMA, it is the ALMA offset      sigma (simple int) : Used only by ALMA, it is the ALMA sigma      atr_length (simple int)      stdev_length (simple int)      stdev_mult (simple float)      phase (simple int) : The phase of jurik MA calculation (-100..100)      power (simple float) : The power of jurik MA calculation   Returns: The moving average series slope_per_atr(src, lookback, atr_length, stdev_length, stdev_mult, atr_ma_type)   Slope per ATR, it is a slope, that can be used across multiple assets   Parameters:      src (float) : The Source of slope      lookback (simple int) : How many timestaps to look back      atr_length (simple int) : The length of the TR smoothing      stdev_length (simple int) : The length of the standard deviation, used for detecting outliers      stdev_mult (simple float) : The multiplier of the standard deviation, used for detecting outliers      atr_ma_type (simple string) : The moving average type used for smoothing   Returns: The slope value angle(src, lookback, atr_length, stdev_length, stdev_mult, atr_ma_type)   Angle of Slope per ATR   Parameters:      src (float) : The Source of slope      lookback (simple int) : How many timestaps to look back      atr_length (simple int) : The length of the TR smoothing      stdev_length (simple int) : The length of the standard deviation, used for detecting outliers      stdev_mult (simple float) : The multiplier of the standard deviation, used for detecting outliers      atr_ma_type (simple string) : The moving average type used for smoothing   Returns: The slope value macd(fast_src, slow_src, fast_ma_type, slow_ma_type, fast_length, slow_length, signal_ma_type, signal_length)   Moving Average Convergence Divergence (MACD)   Parameters:      fast_src (float) : The source series used by MACD fast      slow_src (float) : The source series used by MACD slow      fast_ma_type (simple string) : The MA type for the MACD      slow_ma_type (simple string) : The MA type for the MACD      fast_length (simple int) : The fast MA length of the MACD      slow_length (simple int) : The slow MA length of the MACD      signal_ma_type (simple string) : The MA type for the MACD signal      signal_length (simple int) : The signal MA length of the MACD wae(macd_src, macd_ma_type, macd_fast_length, macd_slow_length, macd_sensitivity, bb_base_src, bb_upper_src, bb_lower_src, bb_ma_type, bb_length, bb_mult, dead_zone_length, dead_zone_mult)   Waddah Attar Explosion (WAE)   Parameters:      macd_src (float) : The source series used by MACD      macd_ma_type (simple string) : The MA type for the MACD      macd_fast_length (simple int) : The fast MA length of the MACD      macd_slow_length (simple int) : The slow MA length of the MACD      macd_sensitivity (simple float) : The MACD diff multiplier      bb_base_src (float) : The source used by stdev      bb_upper_src (float) : The source used by the upper Bollinger Band      bb_lower_src (float) : The source used by the lower Bollinger Band      bb_ma_type (simple string) : The MA type of the Bollinger Bands      bb_length (simple int) : The lenth for Bollinger Bands      bb_mult (simple float) : The multiplier for Bollinger Bands      dead_zone_length (simple int) : The ATR length for dead zone calculation      dead_zone_mult (simple float) : The ATR multiplier for dead zone   Returns: ssl(length, ma_type, src, high_src, low_src)   Semaphore Signal Level channel (SSL)   Parameters:      length (simple int) : The length of the moving average      ma_type (simple string)      src (float) : Source of compare      high_src (float) : Source of the high moving average      low_src (float) : Source of the low moving average   Returns: adx(atr_length, di_length, adx_length, high_src, low_src, atr_ma_type, di_ma_type, adx_ma_type, atr_stdev_length, atr_stdev_mult)   Average Directional Index + Direction Movement Index (ADX + DMI)   Parameters:      atr_length (simple int) : The length of ATR      di_length (simple int) : DI plus and minus smoothing length      adx_length (simple int) : ADX smoothing length      high_src (float) : Source of the high moving average      low_src (float) : Source of the low moving average      atr_ma_type (simple string) : MA type of the ATR calculation      di_ma_type (simple string) : MA type of the DI calculation      adx_ma_type (simple string) : MA type of the ADX calculation      atr_stdev_length (simple int) : The length of the standard deviation, used for detecting outliers      atr_stdev_mult (simple float) : The multiplier of the standard deviation, used for detecting outliers   Returns: chop(length, atr_length, stdev_length, stdev_mult, ma_type)   Choppiness Index (CHOP) using ATRWO   Parameters:      length (simple int) : The sum and highest/lowest length      atr_length (simple int) : The length of the ATR      stdev_length (simple int)      stdev_mult (simple float) : The multiplier of the standard deviation, used for detecting outliers      ma_type (simple string) : The MA type of ATR   Returns: The choppiness value chop_stdev(length, src, stdev_length)   Choppiness Index (CHOP) using stdev instead of ATR   Parameters:      length (simple int) : The sum and highest/lowest length      src (float) : The source of the stdev      stdev_length (simple int) : The length of the stdev calculation   Returns: The choppiness value kc(length, atr_length, mult, base_src, upper_src, lower_src, base_ma_type, upper_ma_type, lower_ma_type, stdev_length, stdev_mult, atr_ma_type)   Keltner Channels (KC)   Parameters:      length (simple int) : The length of moving averages      atr_length (simple int) : The ATR length, the ATR is used to shift the upper and lower bands      mult (simple float) : The ATR multiplier      base_src (float) : Source of the base line      upper_src (float) : Source of the upper line      lower_src (float) : Source of the lower line      base_ma_type (simple string) : The MA type of the base line      upper_ma_type (simple string) : The MA type of the upper line      lower_ma_type (simple string) : The MA type of the lower line      stdev_length (simple int) : The length of the standard deviation, used for detecting outliers      stdev_mult (simple float) : The multiplier of the standard deviation, used for detecting outliers @retrurns      atr_ma_type (simple string) kc_trend(base, lower, upper, lookback)   Keltner Channel Trend   Parameters:      base (float) : The base value returned by kc function      lower (float) : The lower value returned by kc function      upper (float) : The upper value returned by kc function      lookback (simple int) : Howmany timestaps to look back to determine the trend   Returns: supertrend(lower, upper, compare_src)   Supertrend, calculated from above "kc" (Keltner Channel Function)   Parameters:      lower (float) : The lower value returned by kc function      upper (float) : The upper value returned by kc function      compare_src (float) : Source of the base line heiken_ashi(smooth_length, smooth_ma_type, after_smooth_length, after_smooth_ma_type, wicks, src_open, src_high, src_low, src_close)   Heiken Ashi (Smoothed) Candle   Parameters:      smooth_length (simple int) : Smooth length before heiken ashi calculation      smooth_ma_type (simple string) : Type of smoothing MA before heiken ashi calculation      after_smooth_length (simple int) : Smooth length after      after_smooth_ma_type (simple string) : Smooth MA type after      wicks (bool)      src_open (float) : Sourve of open      src_high (float) : Source of high      src_low (float) : Source of low      src_close (float) : Source of close   Returns: swinghl(use_ha_candle)   Calculate recent swing high and low from Heiken Ashi candle reverse points   Parameters:      use_ha_candle (simple bool) : If true, use HA candle open/close to swing high/low instead of normal high/low
Pine Script™ library
by xdserver
EMA, SMA, BB & 5-21 StrategyThis Pine Script code displays Exponential Moving Averages (EMA) and Simple Moving Averages (MA) on a TradingView chart based on the user's selection. Users can choose to show EMA, MA, or both. The script includes predefined periods for both EMA ( ) and MA ( ). Each period is displayed in a different color, making it easy to distinguish between each line. This helps traders analyze trends, support, and resistance levels effectively. And Bollinger bands, 5-21 Strategy Bu Pine Script kodu, Üstel Hareketli Ortalama (EMA) ve Basit Hareketli Ortalama (MA) çizgilerini TradingView grafiğinde kullanıcının seçimine göre gösterir. Kullanıcı EMA, MA veya her ikisini seçebilir. EMA için ve MA için periyotları tanımlıdır. Her çizgi farklı renkte gösterilir, bu da periyotları ayırt etmeyi kolaylaştırır. Bu gösterge, yatırımcıların trendleri, destek ve direnç seviyelerini analiz etmesine yardımcı olur.
Pine Script™ indicator
by FinansalBorsaci
Kushy - EMA (9, 21, 50, 100, 200)Tên chỉ báo: Custom EMA (9, 21, 50, 100, 200) Mô tả: Đây là chỉ báo EMA tùy chỉnh được thiết kế để giúp người dùng theo dõi xu hướng thị trường bằng cách sử dụng 5 đường EMA phổ biến với các giá trị 9, 21, 50, 100 và 200. Mỗi đường EMA được gán màu sắc riêng để dễ dàng quan sát: EMA 9: Màu tím - thích hợp cho việc theo dõi biến động ngắn hạn. EMA 21: Màu cam - giúp xác định xu hướng ngắn hạn và hỗ trợ giao dịch ngắn. EMA 50: Màu xanh dương - cung cấp tín hiệu trung hạn, thường được sử dụng trong chiến lược swing trading. EMA 100: Màu xanh lá - cho thấy xu hướng tổng quát trung hạn. EMA 200: Màu đỏ - biểu thị xu hướng dài hạn, rất hữu ích để đánh giá xu hướng lớn trong thị trường. Chỉ báo này giúp người dùng dễ dàng xác định xu hướng và tìm điểm vào/ra tiềm năng khi các đường EMA giao nhau hoặc khi giá cắt qua các đường EMA chính. Phù hợp cho cả day trading, swing trading và các chiến lược đầu tư dài hạn. Hướng dẫn sử dụng: Các đường EMA ngắn hạn (EMA 9, EMA 21) giúp xác định các tín hiệu giao dịch nhanh, trong khi các đường dài hạn (EMA 50, EMA 100, EMA 200) cung cấp xu hướng tổng thể của thị trường. Quan sát sự giao nhau của các đường EMA để tìm điểm vào/ra giao dịch. Khi giá nằm trên các đường EMA dài hạn, đó là tín hiệu của xu hướng tăng; ngược lại, khi giá nằm dưới các đường này, có thể là xu hướng giảm.
Pine Script™ indicator
by ti3uy3ub4by
Pivot Points StrategyTrade Entry Logic Long Entry: The strategy enters a long position when the price crosses above the primary pivot level (P). This crossover indicates a potential uptrend or bullish momentum. Short Entry: The strategy enters a short position when the price crosses below the primary pivot level (P). This crossunder suggests bearish momentum or a potential downtrend. Trade Exit Logic Long Exit: If a long position is active and the price reaches or exceeds R4, the strategy will exit the long position. R4 serves as an upper target, signaling that the bullish momentum might be losing steam. Short Exit: If a short position is active and the price reaches or falls below S4, the strategy exits the short position. S4 is used as a target for short positions, indicating that downward momentum may be weakening. Alerts The strategy includes alerts for exits: When a long position exits at R4, an alert is triggered with the message "Exit Long Trade at R4." When a short position exits at S4, an alert is triggered with the message "Exit Short Trade at S4." Strategy Rationale This strategy is based on the concept that certain price levels act as psychological boundaries where price may reverse, pause, or breakout significantly. By using Camarilla pivots, the strategy aims to capture moves within strong support and resistance boundaries, providing guidance on entry and exit points.
Pine Script™ indicator
by xxGiDEONxx
Globex time (New York Time)This indicator is designed to highlight and analyze price movements within the Globex session. Primarily geared toward the Globex Trap trading strategy, this tool visually identifies the session's high and low prices, allowing traders to better assess price action during extended hours. Here’s a comprehensive breakdown of its features and functionality: Purpose The "Globex Time (New York Time)" indicator tracks price levels during the Globex trading session, providing a clear view of overnight market activity. This session, typically running from 6 p.m. ET (18:00) until the following morning at 8:30 a.m. ET, is a critical period where significant market positioning can occur before the regular session opens. In the Globex Trap strategy, the session high and low are essential levels, as price movements around these areas often indicate potential support, resistance, or reversal zones, which traders use to set up entries or exits when the regular trading session begins. Key Features Customizable Session Start and End Times The indicator allows users to specify the exact start and end times of the Globex session in New York time. The default settings are: Start: 6 p.m. ET (18:00) End: 8:30 a.m. ET These settings can be adjusted to align with specific market hours or personal preferences. Session High and Low Identification Throughout the defined session, the indicator dynamically calculates and tracks: Session High: The highest price reached within the session. Session Low: The lowest price reached within the session. These levels are essential for the Globex Trap strategy, as price action around them can indicate likely breakout or reversal points when regular trading resumes. Vertical Lines for Session Start and End The indicator draws vertical lines at both the session start and end times: Session Start Line: A solid line marking the exact beginning of the Globex session. Session End Line: A similar vertical line marking the session’s conclusion. Both lines are customizable in terms of color and thickness, making it easy to distinguish the session boundaries visually on the chart. Horizontal Lines for Session High and Low At the end of the session, the indicator plots horizontal lines representing the Globex session's high and low levels. Users can customize these lines: Color: Define specific colors for the session high (default: red) and session low (default: green) to easily differentiate them. Line Style: Options to set the line style (solid, dashed, or dotted) provide flexibility for visual preferences and chart organization. Automatic Reset for Daily Tracking To adapt to the next trading day, the indicator resets the session high and low data once the current session ends. This reset prepares it to start tracking new levels at the beginning of the next session without manual intervention. Practical Application in the Globex Trap Strategy In the Globex Trap strategy, traders are primarily interested in price behavior around the high and low levels established during the overnight session. Common applications of this indicator for this strategy include: Breakout Trades: Watching for price to break above the Globex high or below the Globex low, indicating potential momentum in the breakout direction. Reversal Trades: Monitoring for failed breakouts or traps where price tests and rejects the Globex high or low, suggesting a reversal as liquidity is trapped in these zones. Support and Resistance Zones: Using the session high and low as key support and resistance levels during the regular trading session, with potential entry or exit points when price approaches these areas. Additional Configuration Options Vertical Line Color and Width: Define the color and thickness of the vertical session start and end lines to match your chart’s theme. Upper and Lower Line Colors and Styles: Customize the appearance of the session high and low horizontal lines by setting color and line style (solid, dashed, or dotted), making it easy to distinguish these critical levels from other chart markings. Summary This indicator is a valuable tool for traders implementing the Globex Trap strategy. It visually segments the Globex session and marks essential price levels, helping traders analyze market behavior overnight. Through its customizable options and clear visual representation, it simplifies tracking overnight price activity and identifying strategic levels for potential trade setups during the regular session.
Pine Script™ indicator
by Almureqeeb
Granular Candle-by-Candle VWAPGranular Candle-by-Candle VWAP is a customizable Volume Weighted Average Price (VWAP) indicator designed for TradingView. Unlike traditional VWAP indicators that operate on the chart's primary timeframe, this script enhances precision by incorporating lower timeframe (e.g., 1-minute) data into VWAP calculations. This granular approach provides traders with a more detailed and accurate representation of the average price, accounting for intra-bar price and volume movements. The indicator dynamically adjusts to the chart's current timeframe and offers a range of customization options, including price type selection, visual styling, and alert configurations. Customizable Features Users have extensive control over various aspects of the Granular Candle-by-Candle VWAP indicator. Below are the key features that can be customized to align with individual trading preferences: 🎛️ Customizable Features Users have extensive control over various aspects of the Granular Candle-by-Candle VWAP indicator. Below are the key features that can be customized to align with individual trading preferences: 🔢 Lookback Period Description: Defines the number of lower timeframe bars used in the VWAP calculation. Customization: Input: VWAP Lookback Period (Number of Lower Timeframe Bars) Default Value: 20 bars Range: Minimum of 1 bar Purpose: Allows traders to adjust the sensitivity of the VWAP. A smaller lookback period makes the VWAP more responsive to recent price changes, while a larger period smoothens out fluctuations. 📈 Price Type Selection Description: Determines which price metric is used in the VWAP calculation. Customization: Input: Price Type for VWAP Calculation Options: Open: Uses the opening price of each lower timeframe bar. High: Uses the highest price of each lower timeframe bar. Low: Uses the lowest price of each lower timeframe bar. Close: Uses the closing price of each lower timeframe bar. OHLC/4: Averages the Open, High, Low, and Close prices. HL/2: Averages the High and Low prices. Typical Price: (High + Low + Close) / 3 Weighted Close: (High + Low + 2 × Close) / 4 Default Value: Close Purpose: Offers flexibility in how the average price is calculated, allowing traders to choose the price metric that best fits their analysis style. 🕒 Lower Timeframe Selection Description: Specifies the lower timeframe from which data is fetched for granular VWAP calculations. Customization: Input: Lower Timeframe for Granular Data Default Value: 1 minute ("1") Options: Any valid TradingView timeframe (e.g., "1", "3", "5", "15", etc.) Purpose: Enables traders to select the granularity of data used in the VWAP calculation, enhancing the indicator's precision on higher timeframe charts. 🎨 VWAP Line Customization Description: Adjusts the visual appearance of the VWAP line based on price position relative to the VWAP. Customizations: Color When Price is Above VWAP: Input: VWAP Color (Price Above) Default Value: Green Color When Price is Below VWAP: Input: VWAP Color (Price Below) Default Value: Red Line Thickness: Input: VWAP Line Thickness Default Value: 2 Range: Minimum of 1 Line Style: Input: VWAP Line Style Options: Solid, Dashed, Dotted Default Value: Solid Purpose: Enhances visual clarity, allowing traders to quickly assess price positions relative to the VWAP through color coding and line styling. 🔔 Alerts and Notifications Description: Provides real-time notifications when the price crosses the VWAP. Customizations: Enable/Disable Alerts: Input: Enable Alerts for Price Crossing VWAP Default Value: Enabled (true) Alert Conditions: Price Crossing Above VWAP: Trigger: When the closing price crosses from below to above the VWAP. Alert Message: "Price has crossed above the Granular VWAP." Price Crossing Below VWAP: Trigger: When the closing price crosses from above to below the VWAP. Alert Message: "Price has crossed below the Granular VWAP." Purpose: Keeps traders informed of significant price movements relative to the VWAP, facilitating timely trading decisions. 📊 Plotting and Visualization Description: Displays the calculated Granular VWAP on the chart with user-defined styling. Customization Options: Color, Thickness, and Style: As defined in the VWAP Line Customization section. Track Price Feature: Parameter: trackprice=true Function: Ensures that the VWAP line remains visible even when the price moves far from the VWAP. Purpose: Provides a clear and persistent visual reference of the VWAP on the chart, aiding in trend analysis and support/resistance identification. ⚙️ Performance Optimizations Description: Ensures the indicator runs efficiently, especially on higher timeframes with large datasets. Strategies Implemented: Minimized Security Calls: Utilizes two separate request.security calls to fetch necessary data, balancing functionality and performance. Efficient Calculations: Employs built-in functions like ta.sum for rolling calculations to reduce computational load. Conditional Processing: Alerts are processed only when enabled, preventing unnecessary computations. Purpose: Maintains smooth chart performance and responsiveness, even when using lower timeframe data for granular calculations.
Pine Script™ indicator
by kronos455
On Balance Volume Oscillator of Trading Volume TrendOn Balance Volume Oscillator of Trading Volume Trend Introduction This indicator, the "On Balance Volume Oscillator of Trading Volume Trend," is a technical analysis tool designed to provide insights into market momentum and potential trend reversals by combining the On Balance Volume (OBV) and Relative Strength Index (RSI) indicators. Calculation and Methodology * OBV Calculation: The indicator first calculates the On Balance Volume, which is a cumulative total of the volume of up days minus the volume of down days. This provides a running tally of buying and selling pressure. * RSI of OBV: The RSI is then applied to the OBV values to smooth the data and identify overbought or oversold conditions. * Exponential Moving Averages (EMAs): Two EMAs are calculated on the RSI of OBV. A shorter-term EMA (9-period in this case) and a longer-term EMA (100-period) are used to generate signals. Interpretation and Usage * EMA Crossovers: When the shorter-term EMA crosses above the longer-term EMA, it suggests increasing bullish momentum. Conversely, a downward crossover indicates weakening bullish momentum or increasing bearish pressure. * RSI Divergences: Divergences between the price and the indicator can signal potential trend reversals. For example, if the price is making new highs but the indicator is failing to do so, it could be a bearish divergence. * Overbought/Oversold Conditions: When the RSI of OBV is above 70, it suggests the market may be overbought and a potential correction could be imminent. Conversely, when it is below 30, it suggests the market may be oversold. Visual Representation The indicator is plotted on a chart with multiple lines and filled areas: * Two EMAs: The shorter-term EMA and longer-term EMA are plotted to show the trend of the OBV. * Filled Areas: The area between the two EMAs is filled with a color to indicate the strength of the trend. The color changes based on whether the shorter-term EMA is above or below the longer-term EMA. * RSI Bands: Horizontal lines at 30 and 70 mark the overbought and oversold levels for the RSI of OBV. Summary The On Balance Volume Oscillator of Trading Volume Trend provides a comprehensive view of market momentum and can be a valuable tool for traders. By combining the OBV and RSI, this indicator helps identify potential trend reversals, overbought and oversold conditions, and the strength of the current trend. Note: This indicator should be used in conjunction with other technical analysis tools and fundamental analysis to make informed trading decisions.
Pine Script™ indicator
by da_ji_ba
Formation Defined Moving Support and ResistanceThe script was originally coded in 2018 with Pine Script version 3, and it was in protected code status. It has been updated and optimised for Pine Script v5 and made completely open source. The Formation Defined Moving Support and Resistance indicator is a sophisticated tool for identifying dynamic support and resistance levels based on specific price formations and level interactions. This indicator goes beyond traditional static support and resistance by updating levels based on predefined formation patterns and market behaviour, providing traders with a more responsive view of potential support and resistance zones. Features: The indicator detects essential price levels: Lower Low (LL) Higher Low (HL) Higher High (HH) Lower High (LH) Equal Lower Low (ELL) Equal Higher Low (EHL) Equal Higher High (EHH) Equal Lower High (ELH) By identifying these key points, the script builds a foundation for tracking and responding to changes in price structure. Pre-defined Formations and Comparisons: The indicator calculates and recognises nine different pre-defined formations, such as bullish and bearish formations, based on the sequence of price levels. These formations are compared against previous levels and formations, allowing for a sophisticated understanding of recent market movements and momentum shifts. This formation-based approach provides insights into whether the price is likely to maintain, break, or reverse key levels. Dynamic Support and Resistance Levels: The indicator offers an option to toggle Moving Support and Resistance Levels. When enabled, the support and resistance levels dynamically adjust: Upon a change in the detected formation. When the bar’s closing price breaks the last defined support or resistance level. This feature ensures that the support and resistance levels adapt quickly to market changes, giving a more accurate and responsive perspective. Customisable Price Source: Users can choose the price source for level detection, selecting between close or high/low prices. This flexibility allows the indicator to adapt to different trading styles, whether the focus is on closing prices for more conservative levels or on highs and lows for more sensitive level tracking. This indicator can benefit traders relying on dynamic support and resistance rather than fixed, historical levels. It adapts to recent price actions and market formations, making it useful for identifying entry and exit points, trend continuation or reversal, and setting trailing stops based on updated support and resistance levels.
Pine Script™ indicator
by aybarsm