ZigZag Smart Trend [TradingFinder] Major & Minor Structured Wave🔵 Introduction
🟣 Zigzag
Zigzag is a lagging indicator; this indicator identifies points on a price chart that have more significant changes than its previous wave and then by connecting these lines to each other, it assists traders in trend detection.
This indicator reduces random price fluctuations and attempts to make the primary price trend clearer.
🟣 Pivot
Pivots are points where the price chart changes direction. Pivots, also called reversal points, form when supply and demand forces dominate one another.
Different types of technical analysis pivots can be introduced into two categories, minor pivots, and major pivots, each of which has a specific meaning in analysis.
Major Pivot : These pivots actually indicate major changes in the direction of the chart and occur at the end of trends. Analysts seeking to reach the primary analysis focus more on major pivot points. In fact, most technical analysis tools are examined and determined based on major pivots.
Minor Pivot : This type of pivot focuses more on small and subsidiary points and directions. Therefore, it occurs at the end of corrections. Analysts focusing on minor pivots represent small trends, and it should be noted that minor pivots are not suitable for use in primary technical tools.
How to identify minor and major pivots :
Minor pivots are pivots formed between two major pivots and fail to break the opposite major pivot.
Major pivots are pivots that have either successfully broken the opposite pivot or have moved more than the previous pivot of the same type.
🔵 How to use
Based on identifying pivots and drawing zigzag lines, you can have various uses for this indicator.
Identifying support and resistance levels :
Identifying Elliott Waves :
Identifying classic patterns :
Identifying pivots with higher validity :
Identifying internal and external breakouts :
Identifying trends and range areas :
Identifying pivot types along with major and minor recognition :
MHH : Major Higher High
MLH : Major Lower High
MLL : Major Lower Low
MHL : Major Higher Low
mHH : Minor Higher High
mLH : Minor Lower High
mLL : Minor Lower Low
mHL : Minor Higher Low
🔵 Settings
Pivot Period Zigzag Line : Using this input, you can determine the pivot period for identifying zigzag swings.
Show Zigzag Line : To show or not to show the zigzag line.
Zigzag Line Color : Change the color of the zigzag line.
Zigzag Line Style : Change the Style of the zigzag line.
Zigzag Line Width : Change the Width of the zigzag line.
Show Label : To show or not to show Pivot Type.
Color Label : Change the color of the Pivot Type Label.
Pivot
Pivot Point Calculator [JP&Dia]English User Guide
Script Name: Pivot Point Calculator
What Does This Script Do? This script calculates classic and Camarilla pivot points used in financial markets. Pivot points are used to identify key support and resistance levels, and this script helps traders better understand market movements.
How to Use It?
Add the script to your charts on TradingView.
Enter your desired time frame in the “Enter Time Frame” field (e.g., M, W, D).
Choose either or both “Classic Pivot” and “Camarilla Pivot” options to display them.
The script will automatically calculate the pivot points and display them on the chart.
Why Is This Script Unique? This script combines both classic and Camarilla pivot calculations, allowing users to easily utilize both pivot styles through a single script.
How Can People Benefit? Traders can use this script to identify potential buy-sell points and market trends. They can also conduct their market analyses more efficiently and effectively.
Script Adı: Pivot Noktası Hesaplayıcı
Script Ne İşe Yarar? Bu script, finansal piyasalarda kullanılan klasik ve Camarilla pivot noktalarını hesaplar. Pivot noktaları, önemli destek ve direnç seviyelerini belirlemek için kullanılır ve bu script, yatırımcıların piyasa hareketlerini daha iyi anlamalarına yardımcı olur.
Nasıl Kullanılır?
Scripti TradingView’deki grafiklerinize ekleyin.
“Zaman Dilimi Girin” alanına istediğiniz zaman dilimini girin (Örneğin: M, W, D).
“Classic Pivot” ve “Camarilla Pivot” seçeneklerinden birini veya her ikisini de seçerek gösterilmesini sağlayabilirsiniz.
Script otomatik olarak pivot noktalarını hesaplayacak ve grafik üzerinde gösterecektir.
Neden Özgü Bir Script? Bu script, hem klasik hem de Camarilla pivot hesaplamalarını birleştirir ve kullanıcıların her iki pivot stilini de tek bir script üzerinden kolayca kullanmalarını sağlar.
İnsanlar Nasıl Faydalanabilir? Yatırımcılar, bu scripti kullanarak potansiyel alım-satım noktalarını ve piyasa trendlerini belirleyebilirler. Ayrıca, piyasa analizlerini daha verimli ve etkili bir şekilde yapabilirler.
Pivot Profit Target [Mxwll]Introducing the Pivot Profit Target!
This script identifies recent pivot highs/lows and calculates the expected minimum distance for the next pivot, which acts as an approximate profit target.
The image above details the indicator's output.
The image above shows a table consisting of projection statistics.
How to use
The Pivot Profit Targets can be used to approximate a profit target for your trade.
Identify where your entry is relative to the most recent pivot, and assess whether the minimum expected distance for the most recent pivot has been exceeded. Treat the zones as an approximation.
If your trade aligns with the most recent pivot - treat the minimum expected distance zone as a potential profit target area. Of course, price might stop short or continue beyond the projection area!
That's it! Just a short and sweet script; thank you!
Fib Pivot Points HLThis TradingView indicator allows users to select a specific timeframe (TF) and then analyzes the high, low, and closing prices from the past period within that TF to calculate a central pivot point. The pivot point is determined using the formula (High + Close + Low) / 3, providing a key level around which the market is expected to pivot or change direction.
In addition to the central pivot point, the indicator enhances its utility by incorporating Fibonacci levels. These levels are calculated based on the range from the low to the high of the selected timeframe. For instance, a Fibonacci level like R0.38 would be calculated by adding 38% of the high-low range to the pivot point, giving traders potential resistance levels above the pivot.
Key features of this indicator include:
Timeframe Selection: Users can choose their desired timeframe, such as weekly, daily, etc., for analysis.
Pivot Point Calculation: The indicator calculates the pivot point based on the previous period's high, low, and closing prices within the selected timeframe.
Fibonacci Levels: Adds Fibonacci retracement levels to the pivot point, offering traders additional layers of potential support and resistance based on the natural Fibonacci sequence.
This indicator is particularly useful for traders looking to identify potential turning points in the market and key levels of support and resistance based on historical price action and the Fibonacci sequence, which is widely regarded for its ability to predict market movements.
Example:
Suppose you're analyzing the EUR/USD currency pair using this indicator with a weekly timeframe setting. The previous week's price action showed a high of 1.2100, a low of 1.1900, and the week closed at 1.2000.
Using the formula ( High + Close + Low ) / 3 (High+Close+Low)/3, the pivot point would be calculated as ( 1.2100 + 1.2000 + 1.1900 ) / 3 = 1.2000. Thus, the central pivot point for the current week is at 1.2000.
The range from the low to the high is 1.2100 − 1.1900 = 0.0200 1.2100−1.1900=0.0200.
To calculate a specific Fibonacci level, such as R0.38, you would add 38% of the high-low range to the pivot point: 1.2000 + ( 0.0200 ∗ 0.38 ) = 1.2076 1.2000+(0.0200∗0.38)=1.2076. Thus, the R0.38 Fibonacci resistance level is at 1.2076.
Similarly, you can calculate other Fibonacci levels such as S0.38 (Support level at 38% retracement) by subtracting 38% of the high-low range from the pivot point.
Traders can use the pivot point as a reference for the market's directional bias: prices above the pivot point suggest bullish sentiment, while prices below indicate bearish sentiment. The Fibonacci levels act as potential stepping stones for price movements, offering strategic points for entry, exit, or placing stop-loss orders.
ZigZag LibraryThis is yet another ZigZag library.
🔵 Key Features
1. Lightning-Fast Performance : Optimized code ensures minimal lag and swift chart updates.
2. Real-Time Swing Detection : No more waiting for swings to finalize! This library continuously identifies the latest swing formation.
3. Amplitude-Aware : Discover significant swings earlier, even if they haven't reached the standard bar length.
4. Customizable Visualization : Draw ZigZag on-demand using polylines for a tailored analysis experience.
Stay tuned for more features as this library is being continuously enhanced. For the latest updates, please refer to the release information.
🔵 API
// Import this library. Remember to check the latest version of this library and replace the version number below.
import algotraderdev/zigzag/1 as zz
// Initialize the ZigZag instance.
var zz.ZigZag zig = zz.ZigZag.new().init(
zz.Settings.new(
swingLen = 5,
lineColor = color.blue,
lineStyle = line.style_solid,
lineWidth = 1))
// Analyze the ZigZag using the latest bar's data.
zig.tick()
// Draw the ZigZag.
if barstate.islast
zig.draw()
3 Pivots Interpolation BreakoutsI designed the '3 Pivots Interpolation Breakouts' indicator to intuitively identify breakout opportunities using pivot points. This tool stems from my need to anticipate market direction and capitalize on breakouts. It uses a line interpolated from three pivot highs or lows to forecast upcoming breakouts. This offers a straightforward way to visualize potential bullish and bearish breakouts with color-coded extrapolations. The aim is to simplify breakout detection, enhancing your trading strategy with precise, actionable insights.
Equal Highs & Lows [UAlgo]
🔶 Description:
The "Equal Highs/Lows " indicator is designed to identify equal highs and lows within price action. These levels are significant as they often indicate potential reversal points or areas of consolidation in the market. The indicator is based on specific settings and utilizes the concept of Average True Range (ATR) to determine thresholds for identifying these key price levels.
The indicator plots lines and labels to mark equal highs and lows on the price chart.
It dynamically adjusts to changes in market volatility by utilizing ATR-based thresholds.
🔶 Settings:
Pivot Length: Determines the number of bars used to identify pivot highs and lows.
ATR Length to calculate threshold: Specifies the length of the ATR used to calculate the threshold for determining equal highs and lows.
Threshold: Sets the percentage threshold used in conjunction with ATR to identify equal highs and lows.
Wait For Confirmation: When enabled, the indicator waits for confirmation by considering pivots beyond (considers right length bars while calcuation pivot points) the specified length.
While "Wait For Confirmation" is enabled, EQH / EQL Lines will appear after "Pivot Length" after for confirmation
While "Wait For Confirmation" is disabled, EQH / EQL Lines will appear immediately if it meets the requirements to create EQH or EQL as soon as the candle closes.
🔶 Disclaimer:
"Equal Highs/Lows " is provided for informational and educational purposes only. Trading involves risks, and users should exercise caution and perform their own analysis before making any trading decisions based on this indicator. The creator of the indicator, UAlgo, does not guarantee the accuracy or reliability of the indicator, and usage of this indicator is at the user's own risk.
series_collectionLibrary "series_collection"
A personal collection of commonly used series types like moving averages that are supported directly by
the pinescript library ('ALMA', 'DEMA', 'EMA', 'HMA', 'RMA', 'SMA', 'SWMA', 'VWMA', 'WMA'), highest and lowest source,
median and pivots. One single function (with overloads) that can be configured easily by the user input and can be
used as a core piece of functionality for many user cases. This library was created to abstract away and re-use this
commonly used functionality in my "Two MA Signal Indicator" script and the "Template Trailing Strategy" script. Both
of them use the "two_ma_logic" for defining entry and exit signals. While this piece of work does not contain any
novel mathematical expressions and just adds a convinient (and configurable) way to do things, I hope that might add
value to other scripts as well and future projects.
cust_series(length, seriesType, source)
cust_series - Calculate the custom series of the given source for the given length and type
Parameters:
length (simple int) : - The length of the custom series
seriesType (simple string) : - The type of the custom series
source (float) : - The source of the values
Returns: - The resulting value of the calculations of the custom series
cust_series(length, seriesType, source)
cust_series - Calculate the custom series of the given source for the given length and type
Parameters:
length (simple float) : - The length of the custom series (ceiled)
seriesType (simple string) : - The type of the custom series
source (float) : - The source of the values
Returns: - The resulting value of the calculations of the custom series
CARNAC Elasticity IndicatorThe CARNAC Elasticity Indicator (EI) is a technical analysis tool designed for traders and investors using TradingView. It calculates the percentage deviation of the current price from an Exponential Moving Average (EMA) and helps traders identify potential overbought and oversold conditions in a financial instrument.
Key Features:
EMA Length: Users can customize the length of the Exponential Moving Average (EMA) used in the calculations by adjusting the "EMA Length" parameter in the indicator settings.
Percentage Deviation: The indicator calculates the percentage deviation of the current price from the EMA. Positive values indicate prices above the EMA, while negative values indicate prices below the EMA.
Maximum Deviations: The indicator tracks the maximum positive (above EMA) and negative (below EMA) percentage deviations over time, allowing traders to monitor extreme price movements.
Bands: Upper and lower bands are displayed on the indicator chart at 100 and -100, respectively. Additionally, dashed middle bands at 50 and -50 provide reference points for moderate deviations.
Dynamic Color Coding: The indicator uses dynamic color coding to highlight the current percentage deviation. It turns red for values above 50 (indicating potential overbought conditions), green for values below -50 (indicating potential oversold conditions), and purple for values in between.
How to Use:
Overbought Conditions: Watch for the percentage deviation to cross above 50, indicating potential overbought conditions. This might be a signal to consider selling or taking profits.
Oversold Conditions: Look for the percentage deviation to cross below -50, signaling potential oversold conditions. This could be an opportunity to consider buying or entering a long position.
Historical Extremes: Keep an eye on the upper and lower bands (100 and -100) to identify historical extremes in percentage deviation.
The CARNAC Elasticity Indicator can be a valuable tool for traders seeking to identify potential trend reversals and assess the strength of price movements. However, it should be used in conjunction with other technical analysis tools and risk management strategies for comprehensive trading decisions.
Smallest Swing [Truth Indie]This indicator is designed to test the smallest swing draw using the swing capture concept of the Pivot Points High Low indicator, setting the length to 1 for all periods, and combining it with price action that I think makes sense.
Example of a valid swing high.
Example of a valid swing low.
Volatility ZigZagIt calculates and plots zigzag lines based on volatility and price movements. It has various inputs for customization, allowing you to adjust parameters like source data, length, deviation, line styling, and labeling options.
The indicator identifies pivot points in the price movement, drawing lines between these pivots based on the deviation from certain price levels or volatility measures.
The script labels various data points at the ZigZag pivot points on the chart. These labels provide information about different aspects of the price movement and volume around these pivot points. Here's a breakdown of what gets labeled:
Price Change: Indicates the absolute and average percentage change between the two pivot points. It displays the absolute or relative change in price as a percentage. Additionally, the average absolute price increase or the average rate of increase can also be labeled.
Volume: Shows the total volume and average volume between the two pivot points.
Number of Bars: Indicates the number of bars between the current and the last pivot point.
Reversal Price: Displays the price of the reversal point (the previous pivot).
Adaptive MFT Extremum Pivots [Elysian_Mind]Adaptive MFT Extremum Pivots
Overview:
The Adaptive MFT Extremum Pivots indicator, developed by Elysian_Mind, is a powerful Pine Script tool that dynamically displays key market levels, including Monthly Highs/Lows, Weekly Extremums, Pivot Points, and dynamic Resistances/Supports. The term "dynamic" emphasizes the adaptive nature of the calculated levels, ensuring they reflect real-time market conditions. I thank Zandalin for the excellent table design.
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Chart Explanation:
The table, a visual output of the script, is conveniently positioned in the bottom right corner of the screen, showcasing the indicator's dynamic results. The configuration block, elucidated in the documentation, empowers users to customize the display position. The default placement is at the bottom right, exemplified in the accompanying chart.
The deliberate design ensures that the table does not obscure the candlesticks, with traders commonly situating it outside the candle area. However, the flexibility exists to overlay the table onto the candles. Thanks to transparent cells, the underlying chart remains visible even with the table displayed atop.
In the initial column of the table, users will find labels for the monthly high and low, accompanied by their respective numerical values. The default precision for these values is set at #.###, yet this can be adjusted within the configuration block to suit markets with varying degrees of volatility.
Mirroring this layout, the last column of the table presents the weekly high and low data. This arrangement is part of the upper half of the table. Transitioning to the lower half, users encounter the resistance levels in the first column and the support levels in the last column.
At the center of the table, prominently displayed, is the monthly pivot point. For a comprehensive understanding of the calculations governing these values, users can refer to the documentation. Importantly, users retain the freedom to modify these mathematical calculations, with the table seamlessly updating to reflect any adjustments made.
Noteworthy is the table's persistence; it continues to display reliably even if users choose to customize the mathematical calculations, providing a consistent and adaptable tool for informed decision-making in trading.
This detailed breakdown offers traders a clear guide to interpreting the information presented by the table, ensuring optimal use and understanding of the Adaptive MFT Extremum Pivots indicator.
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Usage:
Table Layout:
The table is a crucial component of this indicator, providing a structured representation of various market levels. Color-coded cells enhance readability, with blue indicating key levels and a semi-transparent background to maintain chart visibility.
1. Utilizing a Table for Enhanced Visibility:
In presenting this wealth of information, the indicator employs a table format beneath the chart. The use of a table is deliberate and offers several advantages:
2. Structured Organization:
The table organizes the diverse data into a structured format, enhancing clarity and making it easier for traders to locate specific information.
3. Concise Presentation:
A table allows for the concise presentation of multiple data points without cluttering the main chart. Traders can quickly reference key levels without distraction.
4. Dynamic Visibility:
As the market dynamically evolves, the table seamlessly updates in real-time, ensuring that the most relevant information is readily visible without obstructing the candlestick chart.
5. Color Coding for Readability:
Color-coded cells in the table not only add visual appeal but also serve a functional purpose by improving readability. Key levels are easily distinguishable, contributing to efficient analysis.
Data Values:
Numerical values for each level are displayed in their respective cells, with precision defined by the iPrecision configuration parameter.
Configuration:
// User configuration: You can modify this part without code understanding
// Table location configuration
// Position: Table
const string iPosition = position.bottom_right
// Width: Table borders
const int iBorderWidth = 1
// Color configuration
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
// Color: Characters
const color iCharColor = color.white
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
// Precision: Numerical data
const int iPrecision = 3
// End of configuration
The code includes a configuration block where users can customize the following parameters:
Precision of Numerical Table Data (iPrecision):
// Precision: Numerical data
const int iPrecision = 3
This parameter (iPrecision) sets the precision of the numerical values displayed in the table. The default value is 3, displaying numbers in #.### format.
Position of the Table (iPosition):
// Position: Table
const string iPosition = position.bottom_right
This parameter (iPosition) sets the position of the table on the chart. The default is position.bottom_right.
Color preferences
Table borders (iBorderColor):
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
This parameters (iBorderColor) sets the color of the borders everywhere within the window.
Table Background (iTableColor):
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
This is the background color of the table. If you've got cells without custom background color, this color will be their background.
Title Cell Background (iTitleCellColor):
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
This is the background color the title cells. You can set the background of data cells and text color elsewhere.
Text (iCharColor):
// Color: Characters
const color iCharColor = color.white
This is the color of the text - titles and data - within the table window. If you change any of the background colors, you might want to change this parameter to ensure visibility.
Data Cell Background: (iDataCellColor):
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
The data cells have a background color to differ from title cells. You can configure this is a different parameter (iDataColor). You might even set the same color for data as for the titles if you will.
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Mathematical Background:
Monthly and Weekly Extremums:
The indicator calculates the High (H) and Low (L) of the previous month and week, ensuring accurate representation of these key levels.
Standard Monthly Pivot Point:
The standard pivot point is determined based on the previous month's data using the formula:
PivotPoint = (PrevMonthHigh + PrevMonthLow + Close ) / 3
Monthly Pivot Points (R1, R2, R3, S1, S2, S3):
Additional pivot points are calculated for Resistances (R) and Supports (S) using the monthly data:
R1 = 2 * PivotPoint - PrevMonthLow
S1 = 2 * PivotPoint - PrevMonthHigh
R2 = PivotPoint + (PrevMonthHigh - PrevMonthLow)
S2 = PivotPoint - (PrevMonthHigh - PrevMonthLow)
R3 = PrevMonthHigh + 2 * (PivotPoint - PrevMonthLow)
S3 = PrevMonthLow - 2 * (PrevMonthHigh - PivotPoint)
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Code Explanation and Interpretation:
The table displayed beneath the chart provides the following information:
Monthly Extremums:
(H) High of the previous month
(L) Low of the previous month
// Function to get the high and low of the previous month
getPrevMonthHighLow() =>
var float prevMonthHigh = na
var float prevMonthLow = na
monthChanged = month(time) != month(time )
if (monthChanged)
prevMonthHigh := high
prevMonthLow := low
Weekly Extremums:
(H) High of the previous week
(L) Low of the previous week
// Function to get the high and low of the previous week
getPrevWeekHighLow() =>
var float prevWeekHigh = na
var float prevWeekLow = na
weekChanged = weekofyear(time) != weekofyear(time )
if (weekChanged)
prevWeekHigh := high
prevWeekLow := low
Monthly Pivots:
Pivot: Standard pivot point based on the previous month's data
// Function to calculate the standard pivot point based on the previous month's data
getStandardPivotPoint() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
Resistances:
R3, R2, R1: Monthly resistance levels
// Function to calculate additional pivot points based on the monthly data
getMonthlyPivotPoints() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
r1 = (2 * pivotPoint) - prevMonthLow
s1 = (2 * pivotPoint) - prevMonthHigh
r2 = pivotPoint + (prevMonthHigh - prevMonthLow)
s2 = pivotPoint - (prevMonthHigh - prevMonthLow)
r3 = prevMonthHigh + 2 * (pivotPoint - prevMonthLow)
s3 = prevMonthLow - 2 * (prevMonthHigh - pivotPoint)
Initializing and Populating the Table:
The myTable variable initializes the table with a blue background, and subsequent table.cell functions populate the table with headers and data.
// Initialize the table with adjusted bgcolor
var myTable = table.new(position = iPosition, columns = 5, rows = 10, bgcolor = color.new(color.blue, 90), border_width = 1, border_color = color.new(color.blue, 70))
Dynamic Data Population:
Data is dynamically populated in the table using the calculated values for Monthly Extremums, Weekly Extremums, Monthly Pivot Points, Resistances, and Supports.
// Add rows dynamically with data
= getPrevMonthHighLow()
= getPrevWeekHighLow()
= getMonthlyPivotPoints()
---
Conclusion:
The Adaptive MFT Extremum Pivots indicator offers traders a detailed and clear representation of critical market levels, empowering them to make informed decisions. However, users should carefully analyze the market and consider their individual risk tolerance before making any trading decisions. The indicator's disclaimer emphasizes that it is not investment advice, and the author and script provider are not responsible for any financial losses incurred.
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Disclaimer:
This indicator is not investment advice. Trading decisions should be made based on a careful analysis of the market and individual risk tolerance. The author and script provider are not responsible for any financial losses incurred.
Kind regards,
Ely
Pocket Pivot BreakoutPocket Pivot Breakout Indicator
The pocket pivot breakout indicator will show a blue arrow under the candle if both the following conditions are met:
1. The percentage change of the candle on that day from open is greater than 3%.
2. The volume on the day of 3% candle is higher than the highest red volume in the past 10 days.
The second condition is based on the 'Pocket Pivot' concept developed by Gil Morales and Chris Kacher.
If only one of the conditions is met, while the other is not, there will be no arrow.
How to use the Pocket Pivot Breakout indicator?
1. If the stock is breaking out of a proper base like (cup & handle, Darvas box etc.), you can use the blue arrow as an indicator to make your initial buy.
2. If you already own a stock, the blue arrow indicator can be used for pyramiding, following a continuation breakout from a proper base.
3. Avoid making a new entry or continuation entry if the stock is too extended from 10ma.
Gap-up > 0.5% Indicator
Gap-up Indicator displays a blue colored candle when a stock gaps up by more than 0.5% compared to previous day's close.
It is turned off by default. To activate it, check the box next to Gap-up > 0.5% in the indicator options.
How to use the Gap-up Indicator?
1. When a stock gaps up, it usually indicates strength, especially if on the day of the gap-up, the stock closes strongly.
2. This indicator should not be used in isolation but with a proper base breakout from a tight consolidation.
3. If a stock is already extended from 10ma, avoid taking any new or continuation entries.
Precautions
1. Avoid buying longs when the general market conditions are not favorable.
2. Avoid buying stocks below 200ma.
3. Avoid making a new entry or pyramid entry if a stock is too extended from 10ma.
Important Points
1. Always choose fundamentally strong stocks showing strong growth in earnings/margins/sales.
2. Buy these fundamentally strong stocks when they are breaking out of proper bases.
3. To learn more about pocket pivots and buyable gap-ups, read the book, Trade Like an O'Neil Disciple (by Gil Morales & Chris Kacher).
Cheers
Simranjit
PivottrendHi all!
This script is based on the concept of "higher highs and higher lows" and "lower highs and lower lows". Bullish/bearish trend changes when a previous pivot (low in bullish trend and high in bearish trend) is broken (or has equal value). Some settings are customizable by the user:
Timeframe
- You can choose what timeframe the pivots are found on
Left length
- The left length used for the pivots found
Right length
- The right length used for the pivots found
Show labels
- Choose if you want to display buy and sell labels
Show pivots
- Choose if you want to display the pivots found
Show MSS
- Choose if you want to display a line when price breaks a previous pivot
The "look and feel" is inspired by the script "SuperTrend" by KivancOzbilgic ().
Best of trading luck!
Market Pivot Levels [Past & Live]Market Levels provide a robust view of daily pivot points of markets such as high/low/close with both past and live values shown at the same time using the recently updated system of polylines of pinescript.
The main need for this script arose from not being able to use plots for daily points because plots are inherently once drawn can't be erased and because we can't plot stuff for previous bars after values are determined we can't use them reliably. And while we can use traditional lines, because we would have extremely high amount of lines and we would have to keep removing the previous ones it wouldn't be that effective way for us. So we try to do it with the new method of polylines .
Features of this script:
- Daily High/Low Points
- Yesterday High/Low/Close Points
- Pre-Market High-Low points.
Now let's preview some of the important points of code and see how we achieve this:
With the code below we make sure no matter which chart we are using we are getting the extended hours version of sessions so our calculations are made safely for viewing pre-market conditions.
// Let's get ticker extended no matter what the current chart is
tc = ticker.new(syminfo.prefix, syminfo.ticker, session.extended)
Coding our own function to calculate high's and low's because inbuilt pinescript function cannot take series and we send this function to retrieve our high's and lows.
// On the fly function to calculate daily highlows instead of tv inbuilt because tv's length cannot take series
f_highlow(int last) =>
bardiff = last
float _low = low, float _high = high
for i = bardiff to 0 by 1
if high > _high
_high := high
if low < _low
_low := low
With doing calculations at the bars of day ending points we can retrieve the correct points and values and push them for our polylines array so it can be used in best way possible.
// Daily change points
changeD = timeframe.change("D")
// When new day starts fill polyline arrays with previous day values for polylines to draw on chart
// We also update prevtime values with current ones after we pushed to the arrays
if changeD
f_arrFill(cpArrHigh, cpArrLow, prevArrh, prevArrl, prevArrc, prevMarh, prevMarl)
valHolder.unshift(valueHold.new(_high, _low, _high, _close, _low, time, pr_h, pr_l))
The rest of the code is annotated and commented. You can let me know in comments if you have any questions. Happy trading.
DIY Custom Strategy Builder [ZP] - v1DISCLAIMER:
This indicator as my first ever Tradingview indicator, has been developed for my personal trading analysis, consolidating various powerful indicators that I frequently use. A number of the embedded indicators within this tool are the creations of esteemed Pine Script developers from the TradingView community. In recognition of their contributions, the names of these developers will be prominently displayed alongside the respective indicator names. My selection of these indicators is rooted in my own experience and reflects those that have proven most effective for me. Please note that the past performance of any trading system or methodology is not necessarily indicative of future results. Always conduct your own research and due diligence before using any indicator or tool.
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Introducing the ultimate all-in-one DIY strategy builder indicator, With over 30+ famous indicators (some with custom configuration/settings) indicators included, you now have the power to mix and match to create your own custom strategy for shorter time or longer time frames depending on your trading style. Say goodbye to cluttered charts and manual/visual confirmation of multiple indicators and hello to endless possibilities with this indicator.
What it does
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This indicator basically help users to do 2 things:
1) Strategy Builder
With more than 30 indicators available, you can select any combination you prefer and the indicator will generate buy and sell signals accordingly. Alternative to the time-consuming process of manually confirming signals from multiple indicators! This indicator streamlines the process by automatically printing buy and sell signals based on your chosen combination of indicators. No more staring at the screen for hours on end, simply set up alerts and let the indicator do the work for you.
Available indicators that you can choose to build your strategy, are coded to seamlessly print the BUY and SELL signal upon confirmation of all selected indicators:
EMA Filter
2 EMA Cross
3 EMA Cross
Range Filter (Guikroth)
SuperTrend
Ichimoku Cloud
SuperIchi (LuxAlgo)
B-Xtrender (QuantTherapy)
Bull Bear Power Trend (Dreadblitz)
VWAP
BB Oscillator (Veryfid)
Trend Meter (Lij_MC)
Chandelier Exit (Everget)
CCI
Awesome Oscillator
DMI ( Adx )
Parabolic SAR
Waddah Attar Explosion (Shayankm)
Volatility Oscillator (Veryfid)
Damiani Volatility ( DV ) (RichardoSantos)
Stochastic
RSI
MACD
SSL Channel (ErwinBeckers)
Schaff Trend Cycle ( STC ) (LazyBear)
Chaikin Money Flow
Volume
Wolfpack Id (Darrellfischer1)
QQE Mod (Mihkhel00)
Hull Suite (Insilico)
Vortex Indicator
2) Overlay Indicators
Access the full potential of this indicator using the SWITCH BOARD section! Here, you have the ability to turn on and plot up to 14 of the included indicators on your chart. Simply select from the following options:
EMA
Support/Resistance (HeWhoMustNotBeNamed)
Supply/ Demand Zone ( SMC ) (Pmgjiv)
Parabolic SAR
Ichimoku Cloud
Superichi (LuxAlgo)
SuperTrend
Range Filter (Guikroth)
Average True Range (ATR)
VWAP
Schaff Trend Cycle ( STC ) (LazyBear)
PVSRA (TradersReality)
Liquidity Zone/Vector Candle Zone (TradersReality)
Market Sessions (Aurocks_AIF)
How it does it
==================
To explain how this indictor generate signal or does what it does, its best to put in points.
I have coded the strategy for each of the indicator, for some of the indicator you will see the option to choose strategy variation, these variants are either famous among the traders or its the ones I found more accurate based on my usage. By coding the strategy I will have the BUY and SELL signal generated by each indicator in the backend.
Next, the indicator will identify your selected LEADING INDICATOR and the CONFIRMATION INDICATOR(s).
On each candle close, the indicator will check if the selected LEADING INDICATOR generates signal (long or short).
Once the leading indicator generates the signal, then the indicator will scan each of the selected CONFIRMATION INDICATORS on candle close to check if any of the CONFIRMATION INDICATOR generated signal (long or short).
Until this point, all the process is happening in the backend, the indicator will print LONG or SHORT signal on the chart ONLY if LEADING INDICATOR and all the selected CONFIRMATION INDICATORS generates signal on candle close. example for long signal, the LEADING INDICATOR and all selected CONFIRMATION INDICATORS must print long signal.
The dashboard table will show your selected LEADING and CONFIRMATION INDICATORS and if LEADING or the CONFIRMATION INDICATORS have generated signal. Signal generated by LEADING and CONFIRMATION indicator whether long or short, is indicated by tick icon ✔. and if any of the selected CONFIRMATION or LEADING indicator does not generate signal on candle close, it will be indicated with cross symbol ✖.
how to use this indicator
==============================
Using the indicator is pretty simple, but it depends on your goal, whether you want to use it for overlaying the available indicators or using it to build your strategy or for both.
To use for Building your strategy: Select your LEADING INDICATOR, and then select your CONFIRMATION INDICATOR(s). if on candle close all the indicators generate signal, then this indicator will print SHORT or LONG signal on the chart for your entry. There are plenty of indicators you can use to build your strategy, some indicators are best for longer time frame setups while others are responsive indicators that are best for short time frame.
To use for overlaying the indicators: Open the setting of this indicator and scroll to the SWITCHBOARD section, from there you can select which indicator you want to plot on the chart.
For each of the listed indicators, you have the flexibility to customize the settings and configurations to suit your preferences. simply open indicator setting and scroll down, you will find configuration for each of the indicators used.
I will also release the Strategy Backtester for this indicator soon.
Pivot Points [MisterMoTA]The Pivot Points indicator by MisterMoTA allow users to get pivots points calculated from last candle high, low and close on any timeframe from 1 minute to weekly.
This will help users that are trading ins small timeframes to see the pivots that are near their timeframes and not only daily timeframe.
Here is an example on the chart from nex image the timeframe is set to 1 minute and pivot points displayed are at 15 minutes :
The users have control on pivots colors, pivot labels colors, text color from labels, decimal numbers displayed in the labels and style of the pivots lines.
Please follow me for other script like this one.
Kind regards,
MisterMoTA
Double Tops & Bottoms [QuantVue]This indicator is designed to detect and plot Double Tops and Double Bottoms, by setting the initial high or low using standard pivot points.
Double Tops
A Double Top is a bearish reversal pattern, typically found when an uptrend returns back to a prior peak. It signifies a potential turning point or resistance level and could potentially reverse in direction.
The pattern is confirmed as a Double Top when the price breaks above the resistance level, but closes below it. A decisive close below this level is seen as a confirmation of the bearish trend.
Double Bottoms
A Double Bottom, on the other hand, is a bullish reversal pattern typically found after a downtrend. It signals a potential turning point or support level where the price has bottomed and could potentially reverse upwards.
The pattern is confirmed as a Double Bottom when the price breaks below the support level, but closes above it. A decisive close above this level is viewed as a confirmation of the bullish trend.
Indicator Features
🔹Double Top Detection: When a double top is identified, a downward-pointing triangle will be plotted above the bar, and if the alerts are enabled, a notification will be triggered.
🔹Double Bottom Detection: When a double bottom is identified, an upward-pointing triangle will be plotted below the bar, and if the alerts are enabled, a notification will be triggered.
🔹Pivot Lookback: Defines the number of bars to the left and right of the pivot that must be lower/higher to qualify as a pivot.
🔹Maximum Length Between Tops/Bottoms: Maximum number of bars between two tops/bottoms to be considered a double top or bottom.
🔹Style Settings: Allows the user to customize the appearance of the lines indicating the tops/bottoms. Options include color selection, line style (dotted, dashed, or solid), and line thickness.
🔹Alerts: The user can enable or disable alerts for Double Top and Double Bottom.
Give this indicator a BOOST and COMMENT your thoughts!
We hope you enjoy.
Cheers!
Liquidity Concepts [BigBeluga]The Liquidity Concepts indicator is designed to represent the liquidity on the chart using pivot points as potential stop-losses / liquidity grabs.
The indicator is facilitated by a market structure detector and pivot points to identify resting liquidity / stop-loss levels.
A liquidity grab or a stop-loss hunt is when retail traders place their stop-loss orders at recent highs / most recent highs or lows. This is a spot where big players attempt to push the market to trigger all the stop-loss orders and gain a better entry in their favor.
🔶 CALCULATION
The indicator uses the Higher Lower script made by @LonesomeTheBlue to determine these pivot points. When a pivot point is formed, it is displayed on the chart with the corresponding symbol (HH - HL - LH - LL). When one of these points is broken, a line is drawn between the pivot point and the candle that broke it.
A liquidity grab is only recognized after it has occurred, and it is represented with a box showing all the candles that were involved in the sweep / stop-loss hunt.
A pivot point is established only after the selected lookback period and cannot be printed beforehand in any manner. This ensures that it captures the highest point within the lookback period following the candle formation.
An HL (Higher Low) point is established when it is lower than an HH (Higher High) point, whereas an LH (Lower High) point is established when it is higher than an LL (Lower Low) point.
Boxes are formed in two different types: Major and Minor.
- Major boxes occur when LH or HL points are breached, with their high or low point crossing above or below in the specific lookback period.
- Minor boxes occur when HH or LL points are breached, with their high or low point crossing above or below in the specific lookback period.
Minor points are less efficient since they represent key highs and lows, and before taking out those liquidity levels, the HL and LH points should be cleared.
Representation of Pivot Point Formation:
Liquidity wicks are a minor representation of a stop-loss hunt during the retracement of a pivot point. This means that a pivot point is broken only by the wick and not by the entire body.
Bigger wick = more liquidity
Lower wick = less liquidity
Liquidity wicks can be used as trade confirmation or targets for your entry to enhance accuracy.
Users have the option to display candle coloring based on the currently detected trend.
🔶 VERIFICATION
Users have the option to specify the verification length for when the liquidity should occur. This means that if the length is set to 7, the indicator will search for the liquidity formation within the last 7 candles; otherwise, it will be considered invalid.
🔶 CONCEPTS
The whole idea is to help find possible zone of stop loss hunting helping having a better entry in our trading, we can utilize a lot more tools, and this shoud be used as confluence only
🔶 OPTIONS
Users have complete control over the settings, allowing them to:
- Disable pivot points.
- Disable the display of boxes.
- Disable liquidity wicks.
- Customize colors to their preferences.
- Adjust lookback settings for historical data analysis.
- Modify candle coloring settings.
- Adjust the text size of labels for better readability and customization.
🔶 RECAP
Box => Represents liquidity formation / stop-loss hunt
- Minor Box HH / LL point
- Major Box LH / HL point
Liquidity Wicks => Formed when a pivot point is broken only by the wick
BOS / CHoCH => Calculated using the pivot points from the @LonesomeTheBlue script
🔶 RELATED SCRIPTS
Price Action Concepts =>
The Next Pivot [Kioseff Trading]Hello!
This script "The Next Pivot" uses various similarity measures to compare historical price sequences to the current price sequence!
Features
Find the most similar price sequence up to 100 bars from the current bar
Forecast price path up to 250 bars
Forecast ZigZag up to 250 bars
Spearmen
Pearson
Absolute Difference
Cosine Similarity
Mean Squared Error
Kendall
Forecasted linear regression channel
The image above shows/explains some of the indicator's capabilities!
The image above highlights the projected zig zag (pivots) pattern!
Colors are customizable (:
Additionally, you can plot a forecasted LinReg channel.
Should load times permit it, the script can search all bar history for a correlating sequence. This won't always be possible, contingent on the forecast length, correlation length, and the number of bars on the chart.
Reasonable Assessment
The script uses various similarity measures to find the "most similar" price sequence to what's currently happening. Once found, the subsequent price move (to the most similar sequence) is recorded and projected forward.
So,
1: Script finds most similar price sequence
2: Script takes what happened after and projects forward
While this may be useful, the projection is simply the reaction to a possible one-off "similarity" to what's currently happening. Random fluctuations are likely and, if occurring, similarities between the current price sequence and the "most similar" sequence are plausibly coincidental.
That said, if you have any ideas on cool features to add please let me know!
Thank you (:
Pivot Point SuperTrend Strategy +TrendFilterIn the dynamic world of financial markets, traders are always on the lookout for innovative strategies to identify trends and make timely trades. The "Pivot Point SuperTrend strategy +TrendFilter" has emerged as an intriguing approach, combining two popular indicators - Pivot Points and SuperTrend, while introducing an additional trend filter for added precision. This strategy draws inspiration from Lonesome TheBlue's "Pivot Point SuperTrend" script, aiming to provide traders with a reliable tool for trend following while minimizing false signals.
The Core Concept:
The strategy's foundation lies in the fusion of Pivot Points and SuperTrend indicators, and the addition of a robust trend filter. It begins by calculating Pivot Highs and Lows over a specified period, serving as crucial reference points for trend analysis. Through a weighted average calculation, these Pivot Points create a center line, refining the overall indicator.
Next, based on the center line and the Average True Range (ATR) with a user-defined Factor, upper and lower bands are generated. These bands adapt to market volatility, adding flexibility to the strategy. The heart of the "Pivot Point SuperTrend" strategy lies in accurately identifying the prevailing trend, with the indicator smoothly transitioning between bullish and bearish signals as the price interacts with the SuperTrend bands.
The additional trend filter introduced into the strategy further enhances its capabilities. This filter is based on a moving average, providing a dynamic assessment of the trend's strength and direction. By combining this trend filter with the original Pivot Point SuperTrend signals, the strategy aims to make more informed and reliable trading decisions.
Advantages of "Pivot Point SuperTrend" with Trend Filter:
1. Enhanced Precision: The incorporation of a trend filter improves the strategy's accuracy by confirming the overall trend direction before generating signals.
2. Trend Continuation: The integration of Pivot Points and SuperTrend, along with the trend filter, aims to prolong trades during strong market trends, potentially maximizing profit opportunities.
3. Reduced Whipsaws: The strategy's weighted average calculation, coupled with the trend filter, helps minimize false signals and reduces whipsaws during uncertain or sideways market conditions.
4. Support and Resistance Insights: The strategy continues to provide additional support and resistance levels based on the Pivot Points, offering valuable contextual information to traders.
Pivot Point Trend LineThis Indicator simply draw lines between high pivot points and low points.
in the code by default its used tradingview default ta.pivothigh and ta.pivotlow function to get the high and low points.
it will generate recent 4 lines of high and low pivot points.
you can change the no of days for both highs and lows pivot points.
this script is not generating any buy or sell signals its just autodraw and connect 2 pivot points. so you dont have to do it manually.
HTF Liquidity Dashboard [TFO]The purpose of this indicator is to server as a multi-symbol scanner that indicates when user-defined symbols have exceeded their previous Day/Week/Month highs and lows.
By default, the dashboard will use a compact view where the green ✔ means that price has swept and is currently exceeding the level of interest, the red ❌ implies that price swept the level but reversed back into the original range, and - indicates that the level hasn't been reached. However, the dashboard text can be toggled to show the numerical values of the highs and lows instead of these compact strings, as shown in the following image.
These levels may be shown and customized on the current chart as well via the Show Levels option. By default, levels from the selected timeframes will initially be plotted as black, and will change to red once traded through. Users can optionally increase the Session Limit parameter to show more than one previous high/low on their chart, for each selected timeframe.
Optionally, we can also plot labels to show when any of the user-defined symbols have exceeded their respective highs and lows, for any of the selected timeframes. Alerts can be created for these events as well; simply select the desired symbols and timeframes, create a new alert using this indicator, and you should be alerted when highs and lows are traded through. Note: if you encounter any issues with duplicate alerts, try deleting the alert, navigating to a lower timeframe such as the 1m, and making a new alert.
