Pivot Average [Misu]█ This Indicator is based on Pivot Points.
It aggregates closed Pivot Points to determine a " Pivot Average " line.
Pivot Points here refer to highs and lows.
█ Usages:
Pivot Average can be used as resistance or breakout area.
It is also very usefull to find battle zones.
It can also be used as a trend indicator: when the price is below, trend is down, when price is above, trend is up.
Mixed with momentum/volatility indicator it is very powerfull.
█ Parameters:
Deviation: Parameter used to calculate pivots.
Depth: Parameter used to calculate pivots.
Length: History Lenght used to determine Pivot Average.
Smoothing MA Lenght: MA lenght used to smooth Pivot Average.
Close Range %: Define price percentage change required to determine close pivots.
Color: Color of the Pivot Average.
Support and Resistance
Simple LevelsSimple Level provides a (you guessed it) simple user to user level sharing experience, with less boxes, less formatting, and less hassle.
Simply insert your levels into the input box, separated by commas. That's it.
Example: 1,2,3,4,5
The Simple Levels indicator will automatically color your lines based on their position to the current close price.
If the level is crossed, the level line will change color.
This indicator is intended for those who just want to skip filling out boxes or typing in a tricky format, and cut to the chase.
There are additional, nice-to-have settings as well for the "more" technically inclined; however, nothing too complicated.
Enjoy!
T3 Striped [Loxx]Theory:
Although T3 is widely used, some of the details on how it is calculated are less known. T3 has, internally, 6 "levels" or "steps" that it uses for its calculation.
This version:
Instead of showing the final T3 value, this indicator shows those intermediate steps. This shows the "building steps" of T3 and can be used for trend assessment as well as for possible support / resistance values.
What is the T3 moving average?
Better Moving Averages Tim Tillson
November 1, 1998
Tim Tillson is a software project manager at Hewlett-Packard, with degrees in Mathematics and Computer Science. He has privately traded options and equities for 15 years.
Introduction
"Digital filtering includes the process of smoothing, predicting, differentiating, integrating, separation of signals, and removal of noise from a signal. Thus many people who do such things are actually using digital filters without realizing that they are; being unacquainted with the theory, they neither understand what they have done nor the possibilities of what they might have done."
This quote from R. W. Hamming applies to the vast majority of indicators in technical analysis . Moving averages, be they simple, weighted, or exponential, are lowpass filters; low frequency components in the signal pass through with little attenuation, while high frequencies are severely reduced.
"Oscillator" type indicators (such as MACD , Momentum, Relative Strength Index ) are another type of digital filter called a differentiator.
Tushar Chande has observed that many popular oscillators are highly correlated, which is sensible because they are trying to measure the rate of change of the underlying time series, i.e., are trying to be the first and second derivatives we all learned about in Calculus.
We use moving averages (lowpass filters) in technical analysis to remove the random noise from a time series, to discern the underlying trend or to determine prices at which we will take action. A perfect moving average would have two attributes:
It would be smooth, not sensitive to random noise in the underlying time series. Another way of saying this is that its derivative would not spuriously alternate between positive and negative values.
It would not lag behind the time series it is computed from. Lag, of course, produces late buy or sell signals that kill profits.
The only way one can compute a perfect moving average is to have knowledge of the future, and if we had that, we would buy one lottery ticket a week rather than trade!
Having said this, we can still improve on the conventional simple, weighted, or exponential moving averages. Here's how:
Two Interesting Moving Averages
We will examine two benchmark moving averages based on Linear Regression analysis.
In both cases, a Linear Regression line of length n is fitted to price data.
I call the first moving average ILRS, which stands for Integral of Linear Regression Slope. One simply integrates the slope of a linear regression line as it is successively fitted in a moving window of length n across the data, with the constant of integration being a simple moving average of the first n points. Put another way, the derivative of ILRS is the linear regression slope. Note that ILRS is not the same as a SMA ( simple moving average ) of length n, which is actually the midpoint of the linear regression line as it moves across the data.
We can measure the lag of moving averages with respect to a linear trend by computing how they behave when the input is a line with unit slope. Both SMA (n) and ILRS(n) have lag of n/2, but ILRS is much smoother than SMA .
Our second benchmark moving average is well known, called EPMA or End Point Moving Average. It is the endpoint of the linear regression line of length n as it is fitted across the data. EPMA hugs the data more closely than a simple or exponential moving average of the same length. The price we pay for this is that it is much noisier (less smooth) than ILRS, and it also has the annoying property that it overshoots the data when linear trends are present.
However, EPMA has a lag of 0 with respect to linear input! This makes sense because a linear regression line will fit linear input perfectly, and the endpoint of the LR line will be on the input line.
These two moving averages frame the tradeoffs that we are facing. On one extreme we have ILRS, which is very smooth and has considerable phase lag. EPMA has 0 phase lag, but is too noisy and overshoots. We would like to construct a better moving average which is as smooth as ILRS, but runs closer to where EPMA lies, without the overshoot.
A easy way to attempt this is to split the difference, i.e. use (ILRS(n)+EPMA(n))/2. This will give us a moving average (call it IE /2) which runs in between the two, has phase lag of n/4 but still inherits considerable noise from EPMA. IE /2 is inspirational, however. Can we build something that is comparable, but smoother? Figure 1 shows ILRS, EPMA, and IE /2.
Filter Techniques
Any thoughtful student of filter theory (or resolute experimenter) will have noticed that you can improve the smoothness of a filter by running it through itself multiple times, at the cost of increasing phase lag.
There is a complementary technique (called twicing by J.W. Tukey) which can be used to improve phase lag. If L stands for the operation of running data through a low pass filter, then twicing can be described by:
L' = L(time series) + L(time series - L(time series))
That is, we add a moving average of the difference between the input and the moving average to the moving average. This is algebraically equivalent to:
2L-L(L)
This is the Double Exponential Moving Average or DEMA , popularized by Patrick Mulloy in TASAC (January/February 1994).
In our taxonomy, DEMA has some phase lag (although it exponentially approaches 0) and is somewhat noisy, comparable to IE /2 indicator.
We will use these two techniques to construct our better moving average, after we explore the first one a little more closely.
Fixing Overshoot
An n-day EMA has smoothing constant alpha=2/(n+1) and a lag of (n-1)/2.
Thus EMA (3) has lag 1, and EMA (11) has lag 5. Figure 2 shows that, if I am willing to incur 5 days of lag, I get a smoother moving average if I run EMA (3) through itself 5 times than if I just take EMA (11) once.
This suggests that if EPMA and DEMA have 0 or low lag, why not run fast versions (eg DEMA (3)) through themselves many times to achieve a smooth result? The problem is that multiple runs though these filters increase their tendency to overshoot the data, giving an unusable result. This is because the amplitude response of DEMA and EPMA is greater than 1 at certain frequencies, giving a gain of much greater than 1 at these frequencies when run though themselves multiple times. Figure 3 shows DEMA (7) and EPMA(7) run through themselves 3 times. DEMA^3 has serious overshoot, and EPMA^3 is terrible.
The solution to the overshoot problem is to recall what we are doing with twicing:
DEMA (n) = EMA (n) + EMA (time series - EMA (n))
The second term is adding, in effect, a smooth version of the derivative to the EMA to achieve DEMA . The derivative term determines how hot the moving average's response to linear trends will be. We need to simply turn down the volume to achieve our basic building block:
EMA (n) + EMA (time series - EMA (n))*.7;
This is algebraically the same as:
EMA (n)*1.7-EMA( EMA (n))*.7;
I have chosen .7 as my volume factor, but the general formula (which I call "Generalized Dema") is:
GD (n,v) = EMA (n)*(1+v)-EMA( EMA (n))*v,
Where v ranges between 0 and 1. When v=0, GD is just an EMA , and when v=1, GD is DEMA . In between, GD is a cooler DEMA . By using a value for v less than 1 (I like .7), we cure the multiple DEMA overshoot problem, at the cost of accepting some additional phase delay. Now we can run GD through itself multiple times to define a new, smoother moving average T3 that does not overshoot the data:
T3(n) = GD ( GD ( GD (n)))
In filter theory parlance, T3 is a six-pole non-linear Kalman filter. Kalman filters are ones which use the error (in this case (time series - EMA (n)) to correct themselves. In Technical Analysis , these are called Adaptive Moving Averages; they track the time series more aggressively when it is making large moves.
Included
Alerts
Signals
Bar coloring
Loxx's Expanded Source Types
Median Absolute Deviation Outlier FractalsCore Concepts
Using Bill William's fractals (can be any types of pivots), we want to find outlier fractals using the median absolute deviation (MAD). When the true range falls outside the specified threshold, it is counted as an outlier. These outliers tend to have significance. Prices usually react to those levels in the future, sometimes a single level and other times a cluster of them to create a zone.
Usage
The baseline determines the trend. Above baseline is uptrend and below is downtrend.
MAD length is how much data you want to use for the MAD calculation.
Deviation limit is the multiple of MAD from median figure to determine if the true range prices exceeds it and if it does we have an outlier.
Notes:
The script is for informational and educational purposes only.
Any suggestions for improvement are welcome!
Mark FVGsMark FVGs is marking FVG (stands for Fair Value Gap, other name is Imbalance or IMB) on your chart so that you can instantly detect them
It supports:
- marking bullish and bearish partly filled or unfilled FVGs of the current timeframe
- marking bullish and bearish already filled FVGs of the current timeframe
- marking bullish and bearish FVGs of the any 4 timeframes on your current timeframe
technically it re-builds them on the last bar or as soon as new realtime bar is updated. it looks with 1k bars back to find the nearest specific number of FGVs
Adjustments:
- changing the maximum number of FVGs to display.
- changing the color of FVG area
- displaying already filled FVG of the current time frame
- changing the mode of displaying area it can either extended or fixed width
- displaying labels of other time frame FVGs
Institutional Price LevelsInstitutional price levels
(AKA round numbers, Perfect Price Levels-PPL)
Institutional Price Levels (IPL) script shows the closest round numbers from the current price.
Some traders uses round numbers as a support resistance levels.
For example: 0.000 0.500 1.000 levels. Additional levels are 0.200 0.800.
So I made a simple script that shows round numbers and the quarter levels(Not exactly quarter but minor levels)
Quarter level option is planned on next update.
Default range is 300 pips and you can extend until 500 pips range.
Time range is extandable to the right and left side. You can just extend the line by increasing the bar numbers.
Inputs:
Show levels - Can show and hide all levels. Level colors are optional.
Show quarter - Can show and hide minor levels which is 0.800 0.200 levels. Colors are optional
Show more levels - Can show and hide more levels. Default range is 300 pips. Additional 200 pips range is optional.
Extend right bars - Can set length of levels to the right side.
Extend left bars - Can set length of levels to the left side.
Thank you.
Range Strat - MACD/RSIThis strategy uses a trend based indicator (MACD) for entry/exit signals with a momentum oscillator (RSI) to act as confirmation. Although relying on a trend based indicator this has been created for range bound crypto markets, which have been in a period of chop since June 2022.
Long/Short signals are generated from MACD with the RSI oscillator thresholds suppressing entries at price extremes. This is not a mean reversion RSI strategy! As the indicators are contrary to each other you will need to be generous with the RSI settings in order for signals to trigger.
Strategy is designed for use on the 4h timeframe, it may work well on higher timeframes, but lower time frames will lead to false signals. Use fixed percentage of equity for order size to capture the compounding effect. As a reversal strategy bear in mind that should market trend strongly in either direction stops will be required.
The RSI thresholds can be tailored to provide higher frequency or safer signals. Similarly tweaking MACD settings will provide earlier/more frequent or safer signals. As this is intended to enter near range high / low you should check the visual cues to ensure a ping-pong effect is observed, so that peaks and troughs are captured. Once an observable range is established the strategy works well across a range of crypto markets,
The script is open source, so feel free to amend as you wish. Using a different momentum oscillator may provide better results. I have prior coding experience, but first time using PineScript was last night, so it's not very tidy. I will update this with some additional customisation and TP/SL in the near future.
Usage: Range bound markets
Markets: Cryptocurrency Alts/BTC/ETH
Timeframe: 4h
Fair Value Gap [LuxAlgo]Fair value gaps (FVG) highlight imbalances areas between market participants and have become popular amongst technical analysts. The following script aims to display fair value gaps alongside the percentage of filled gaps and the average duration (in bars) before gaps are filled.
Users can be alerted when an FVG is filled using the alerts built into this script.
🔶 USAGE
In practice, FVG's highlight areas of support (bullish FVG) and resistances (bearish FVG). Once a gap is filled, suggesting the end of the imbalance, we can expect the price to reverse.
This approach is more contrarian in nature, users wishing to use a more trend-following approach can use the identification of FVG as direct signals, going long with the identification of a bullish FVG, and short with a bearish FVG.
🔹 Mitigation
By default, the script highlights the areas of only unmitigated FVG's. Users can however highlight the mitigation level of mitigated FVG's, that is the lower extremity of bullish FVG's and the upper extremity of bearish FVG's.
The user can track the evolution of a mitigated FVG's using the "Dynamic" setting.
🔹 Threshold
The gap height can be used to determine the degree of imbalance between buying and selling market participants. Users can filter fair value gaps based on the gap height using the "Threshold %" setting. Using the "Auto" will make use of an automatic threshold, only keeping more volatile FVG's.
🔶 DETAILS
We use the following rules for detecting FVG's in this script:
Bullish FVG
low > high(t-2)
close(t-1) > high(t-2)
(low - high(t-2)) / high(t-2) > threshold
Upper Bullish FVG = low
Lower Bullish FVG = high(t-2)
Bearish FVG
high < low(t-2)
close(t-1) < low(t-2)
(low(t-2) - high) / high < -threshold
Upper Bearish FVG = low(t-2)
Lower Bearish FVG = high
🔶 SETTINGS
Threshold %: Threshold percentage used to filter our FVG's based on their height.
Auto Threshold: Use the cumulative mean of relative FVG heights as threshold.
Unmitigatted Levels: Extent the mitigation level of the number of unmitigated FVG's set by the user.
Mitigation Levels: Show the mitigation levels of mitigated FVG's.
Timeframe : Timeframe of the price data used to detect FVG's.
VWAP BANDS [qrsq]Description
This indicator is used to find support and resistance utilizing both buying and selling volume. It can be used on lower and higher time frames to understand where price is likely to reject or bounce.
How it works
Instead of calculating the VWAP using the total volume, this script estimates the buying/selling volume and respectively calculates their individual VWAP's. The standard deviations of these are then calculated to create the set of two bands. The top bands being the VWAP from buying volume and bottom bands are from selling volume, with the option to use a double band on either pair.
How to use it
I like to use the bands for LTF scalping as well as HTF swings, I also like to use it alongside my SMA VWAP BANDS.
For scalping:
I tend to use either the 5m or 15m TF
I then set the indicator's TF to 1m
I will take a scalp based on the bands confluence with other PA methods, if price is being either supported or rejected.
For swings:
I tend to use a variety of TFs, including: 30m, 1H, 4H, D
I then set the indicator's TF to "Chart"
I will take a swing based on the bands confluence with other PA methods, if price is being either supported or rejected.
I also tend to use them on perpetual contracts as the volume seems to be more consistent and hence results in more accurate support and resistance.
Multiple Daily SMA EMA on Intra 1min 5min 15min ChartsThis script is helping you auto plot daily SMA EMA and extensions when you are looking at intraday charts. The script is customizable where user can select which ever levels they are interested in viewing. These daily lines act as support and resistance levels for intraday
The green line represent 20 EMA Daily
The yellow line represent 50 SMA Daily
The olive line represent 200 SMA Daily
The red line is upper Bollinger Band Daily
The black line is lower Bollinger Band Daily
To help you understand which lines are what I would recommend you add this indicator and select "D" timeframe and then see which lines you would like to view for your 1min chart or 5 min chart you can customize from the setting options which plot color you would like to view.
Quick LevelsQuick Levels allow users to quickly add multiple levels to their chart all at once through an intuitive user interface!
No need to fiddle with drawing lines and then inputting their exact position afterwards, do all of it with one string of numbers!
Insert multiple levels at once, simply separate your price levels by commas(,).
Insert levels across tickers to save time when switching between charts.
Notes:
For users coming from "Copy/Paste Levels", this system is very robust.
The only user input variable that is not multiple choice is the "levels" box. I have taken steps to fool proof this box, by (input processing) removing spaces, removing commas at the start or end, and replacing semicolons with commas. You can see in the cover chart that the inputs for the first level have a lot of spaces and a comma at the end, yet it does not effect the output.
If there is no ticker entered in the "Ticker" box, the levels will be drawn on your current chart.
Enjoy!
Pivot-Based Channels & Bands [Misu]█ This Indicator is based on Pivot detection to show bands and channels.
The pivot price is similar to a resistance or support level. If the pivot level is breached, the price should continue in that direction. Or the price could reverse at or near this level.
█ Usages:
Use channels as a support & resistance zone.
Use bands as a support & resistance zone. It is also very powerfull to use it as a breakout.
Use mid bands & mid channels as a trend direction or trade filter as a more usual moving average.
█ Parameters:
Show Pivot Bands: show bands.
Show Pivot Mid Band: show mid bands.
Show Pivot Channels: show channels.
Show Pivot Mid Channel: show mid channels.
Deviation: deviation used to calculate pivot points.
Depth: depth used to calculate pivot points.
Inside Bar SetupScript Details
- This script plots Inside Bar for given day in selected time-frame (applicable only for Timeframes < Day)
- Basis plotted inside bar, relevant targets are marked on the chart
- Targets can be customised from script settings. Example, if range of mother candle is 10 points, then T1 is 10 * x above/below mother candle and T2 is 10 * y above/below mother candle. This x & y are configured via script settings
How to use this script ?
- This script works well on 10-15 mins timeframe for stocks, 15/30 mins timeframe for nifty index and 30/60 mins time frame for bank nifty index
- If mother candle high is broken, take long trade with SL of mother candle low and if low is broken, take short trade with SL of mother candle high
Remember:
1. Above logic is to be combined with support/resistances i.e. price action. This script is an add-on to price action analysis giving you more conviction.
2. If range of mother candle is very high, it is recommended to avoid the trade.
3. Basis inside bar formed on higher time frame, take trade on basis of lower time frame i.e if inside bar is formed on 60 mins, take trade on the basis of 10-15 mins time frame
Example:
1. As seen in the chart, Nifty is near it's resistance and we are seeing Inside Bar being formed, In such scenario, even if High of Mother Candle is broken, we should be more interested to short as we are near resistance and probability of getting our targets in long side is less.
2. So, if I see breakdown of mother candle i.e. price going below low of mother candle, we will short with SL of high of mother candle.
3. As seen in the chart, both the targets are achieved.
Additional Info:
1. Targets on Long/Short Side can be configured via settings. For indices 1 times/1.5 times the range works well.
2. This script plots targets basis the first inside bar formed in the day for selected time frame.
3. Inside bars formed through out the day are coloured separately but lines are plotted only on the basis of 1st formed inside bar as this strategy works well for the first formed inside bar)
4. Don't forget to check volume in case of breakout/breakdown.
Note:
1. Mother Candle - First Candle of Inside Bar
2. Child Candle - Candle formed inside Mother Candle (Second Candle of Inside Bar)
Happy Trading :)
Volume Histogram [SpiritualHealer117]This indicator is a histogram produced with Pinescript's boxes and is helpful for spotting support, resistance, and key levels. The indicator shows the volume executed at each source price over a customizable time period. The "Key Level" in this indicator is the price at which the most volume was executed, and the "Major Levels" are levels where volume was over a percentile threshold, which you can customize in settings. Feel free to give any feedback on the indicator or make a copy for yourself!
Copy/Paste LevelsCopy/Paste Levels allows levels to be pasted onto your chart from a properly formatted source.
This tool streamlines the process of adding lines to your chart, and sharing lines from your chart.
More than one ticker at a time!
This indicator will only draw lines on charts it has values for!
This means you can input levels for every ticker you need all at once, one time, and only be displayed the levels for the current chart you are looking at. When you switch tickers, the levels for that ticker will display. (Assuming you have levels entered for that ticker)
The formatting is as follows:
Ticker,Color,Style,Width,Lvl1,Lvl2,Lvl3;
Ticker - Any ticker on Tradingview can be used in the field
Color - Available colors are: Red,Orange,Yellow,Green,Blue,Purple,White,Black,Gray
Style - Available styles are: Solid,Dashed,Dotted
Width - This can be any negative integer, ex.(-1,-2,-3,-4,-5)
Lvls - These can be any positive number (decimals allowed)
Semi-Colons separate sections, each section contains enough information to create at least 1 line.
Each additional level added within the same section will have the same styling parameters as the other levels in the section.
Example:
2 solid lines colored red with a thickness of 2 on QQQ, 1 at $300 and 1 at $400.
QQQ,RED,SOLID,-2,300,400;
IMPORTANT MUST READ!!!
Remember to not include any spaces between commas and the entries in each field!
ex. ; QQQ, red, dotted, -1, 325; <- Wrong
ex. ;QQQ,red,dotted,-1,325;)<- Right
However,
All fields must be filled out, to use default values in the fields, insert a space between the commas.
ex. ;QQQ,red,dotted,,325; <- Wrong
ex. ;QQQ,red,dotted, ,325; <- Right
While spaces can not be included line breaks can!
I recommend for easier typing and viewing to include a line break for each new line (if changing styling or ticker)
Example:
2 solid lines, one red at $300, one green at $400, both default width. Written in a single line AND using multiple lines, both give the same output.
QQQ,red,solid, ,300;QQQ,green,solid, ,400;
or
QQQ,red,solid, ,300;
QQQ,green,solid, ,400;
In this following screenshot you can see more examples of different formatting variations.
The textbox contains exactly what is pasted into the settings input box.
As you can see, capitalization does not matter.
Default Values:
Color = optimal contrast color, If this field is filled in with a space it will display the optimal contrast color of the users background.
Style = solid
Width = -1
More Examples:
Multi-Ticker: drawing 3 lines at $300, all default values, on 3 different tickers
SPY, , , ,300;QQQ, , , ,300;AAPL, , , ,300
or
SPY, , , ,300;
QQQ, , , ,300;
AAPL, , , ,300
Multiple levels: There is no limit* to the number of levels that can be included within 1 section.
* only TV default line limit per indicator (500)
This will be 4 lines all with the same styling at different values on 2 separate tickers.
SPY,BLUE,SOLID,-2,100,200,300,400;QQQ,BLUE,SOLID,-2,100,200,300,400
or
SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400
Semi-colons must separate sections, but are not required at the beginning or end, it makes no difference if they are or are not added.
SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400
==
SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400;
==
;SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400;
All the above output the same results.
Hope this is helpful for people,
Enjoy!
Price Pivots for NASDQ 100 StocksPrice Pivots for NASDQ 100 Stocks
What is this Indicator?
• This indicator calculates the price range a Stock can move in a Day.
Advantages of this Indicator
• This is a Leading indicator, not Dynamic or Repaint.
• Helps to identify the tight range of price movement.
• Can easily identify the Options strike price.
• Develops a discipline in placing Targets.
Disadvantages of this Indicator
• The indicator is specifically made for NASDQ 100 stocks. The levels won't work for other stocks.
• The indicator shows nothing for other indexes and stocks other than above mentioned.
• The data need to be entered manually.
Who to use?
Highly beneficial for Day Traders, it can be used for Swing and Positions as well.
What timeframe to use?
• Any timeframe.
• The highlighted levels in Red and Green will not show correct levels in 1 minute timeframe.
• 5min is recommended for Day Traders.
When to use?
• Wait for proper swing to form.
• Recommended to avoid 1st 1 hour or market open, that is 9.15am to 10.15 or 10.30am.
• Within this time a proper swing will be formed.
What are the Lines?
• The concept is the price will move from one pivot to another.
• Entry and Exit can be these levels as Reversal or Retracement.
Gray Lines:
• Every lines with price labels are the Strike Prices in the Option Chain.
• Price moves from 1 Strike Price level to another.
• The dashed lines are average levels of 2 Strike Prices.
Red & Green Lines:
• The Red and Green Lines will appear only after the first 1 hour.
• The levels are calculated based on the 1st 1 hour.
• Red Lines are important Resistance levels, these are strong Bearish reversal points. It is also a breakout level, this need to be figured out from the past levels, trend, percentage change and consolidation.
• Green Lines are important Support levels, these are strong Bullish reversal points. It is also a breakdown level, this need to be figured out from the past levels, trend, percentage change and consolidation.
What are the Labels?
• First Number: Price of that level.
• Numbers in (): Percentage change and Change of price from LTP (Last Traded Price) to that Level.
How to use?
Entry:
• Enter when price is closer to the Red or Green lines.
• Enter after considering previous Swing and Trend.
• Note the 50% of previous Swing.
• Enter Short when price reverse from each level.
• If 50% of swing and the pivot level is closer it can be a good entry.
Exit:
• Use the logic of Entry, each level can be a target.
• Exit when price is closer to the Red or Green lines.
Indicator Menu
Source
• Custom: Enter the price manually after choosing the Source as Custom to show the Pivots at that price.
• LTP: Pivot is calculated based on Last Traded Price.
• Day Open: Pivot is calculated based on current day opening price.
• PD Close: Pivot is calculated based on previous day closing price.
• PD HL2: Pivot is calculated based on previous day average of High and Low.
• PD HLC3: Pivot is calculated based on previous day average of High, Low and Close.
"Time (Vertical Lines)"
• This is a marker of every 1 hour.
• Usually major price movement happen between previous day last 1 hour to today first 1 hour.
• Two swings can happen between first 2 hour of current day.
• At the end of the day last 1 hour another important movement will happen.
• Usually rest of the time won't show any interesting movement.
To the Users
• Certain symbols may show the levels as a single line. For such symbols choose a different Source or Timeframe from the indicator menu.
• Please inform if any of the Symbol's price levels don't react to the pivots , include the Symbol a well.
• Also inform if you notice any wrong values, errors or abnormal behavior in the indicator.
• Feel free to suggest or adding new features and options.
General Tips
• It is good if Stock trend is same as that of Index trend.
• Lots of indicators creates lots of confusion.
• Keep the chart simple and clean.
• Buy Low and Sell High.
• Master averages or 50%.
• Previous Swing High and Swing Low are crucial.
Important Note
• Currently the levels are in testing stage.
• Eventually the levels of certain symbols will be corrected after each update and test.
ZigZag with Retracement LevelsThis is a modification to "ZigZag with Fibonacci Levels" by LonesomeTheBlue.
By default, the script finds the ZigZag, draws Fibonacci lines and labels accordinly. ZigZag period can be set.
The modification to the original script provides the following features:
1) Option for user to customize retracement levels, if they don't want to use Fibonacci levels. This allows for different strategy adoptions.
2) Option to show Fibonacci or custom retracement levels based on the latest pivot (including the current bar)
For example:
Enjoy and happy trading~!!
Average Daily Range (ADR) (Multi Timeframe, Multi Period)Average Daily Range (ADR)
(Multi Timeframe, Multi Period, Extended Levels)
Tips
• Narrow Zones are an indication of breakouts. It can be a very tight range as well.
• Wider Zones can be Sideways or Volatile.
What is this Indicator?
• This is Average Daily Range (ADR) Zones or Pivots.
• This have Multi Timeframe, Multi Period (Up to 3 Levels) and Extended Target Levels.
Advantages of this Indicator
• This is a Leading indicator, not Dynamic or Repaint.
• Helps to identify the reversal points.
• The levels are more accurate and not like the old formulas.
• Can practically follow the Buy Low and Sell High principle.
• Helps to keep minimum Stop Loss.
Who to use?
• Highly beneficial for Day Traders
• It can be used for Swing and Positions as well.
What timeframe to use?
• Any timeframe.
When to use?
• Any market conditions.
How to use?
Entry
• Long entry when the Price reach at or closer to the Green Support zone.
• Long entry when the Price retrace to the Red Resistance zone.
• Short entry when the Price reach at or closer to the Red Resistance zone.
• Short entry when the Price retrace to the Green Support zone.
• Long or Short at the Pivot line.
Exit
• Use past ADR levels as targets.
• Or use the Target levels in the indicator for breakouts.
• Use the Pivot line as target.
• Use Support or Resistance Zones as targets in reversal method.
What are the Lines?
Gray Line:
• It the day Open or can be considered as Pivot.
Red & Green ADR Zones:
• Red Zone is Resistance.
• Green Zone is Support.
• Mostly price can reverse from this Zones.
• Multiple Red and Green Lines forms a Zone.
• These lines are average levels of past days which helps to figure out the maximum and minimum price range that can be moved in that day.
• The default number of days are 5, 7 and 14. This can be customized.
Red & Green Target Lines:
• These are Target levels.
What are the Labels?
• First Number: Price of that level.
• Numbers in (): Percentage change and Change of price from LTP (Last Traded Price) to that Level.
General Tips
• It is good if Stock trend is same as that of the Index trend.
• Lots of indicators creates lots of confusion.
• Keep the chart simple and clean.
• Buy Low and Sell High.
• Master averages or 50%.
Caleb's Supply and Demand ZonesThis script takes predetermined levels and plots them as supply and demand zones. These zones are automatically colored as supply or demand based on price action. Additionally, two EMAs and a VWAP are included to help make intraday trading decisions. This script is written to intuitively deduce between SPY, SPX, ES, US500, QQQ, and NQ to plot the zones in their proper corresponding price levels.
RSI Improved strategySet a Horizontal Ray at the price that relates highest / lowest RSI .
It 's more clear to decide when to open long / short position manually.
It's a scalping strategy that works in 15min chart(basically works in most of timeframe , if you don't look it as a scalping strategy), when RSI hits Highest / Lowest value , the strategy will open a Long / Short position.
The Default Risk Reward Ratio was 1 (1600 points : 1600 points) you can adjust it in settings
You guys can look it as a RSI alert indicator
Think before you do , use it wisely. Thanks a lot!
There is a lot of useless words in Pine if you wanna look it please ignore it.
DEMA Supertrend Bands [Misu]█ Indicator based on DEMA (Double Exponential Moving Average) & Supertrend to show Bands .
DEMA attempts to remove the inherent lag associated with Moving Averages by placing more weight on recent values.
Supertrend aims to detect price trends, it's also used to set protective stops.
█ Usages:
Combining Dema to calculate Supertrend results in nice lower and upper bands.
This can be used to identify potential supports and resistances and set protective stops.
█ Parameters:
Length DEMA: Double Ema lenght used to calculate DEMA. Dema is used by Supertrend indicator.
Length Atr: Atr lenght used to calculate Atr. Atr is used by Supertrend indicator.
Band Mult: Used to calculate Supertrend Bands width.
█ Other Applications:
The mid band can be used to filter bad signals in the manner of a more classical Moving Average.
Refracted EMARefracted EMA is a price based indicator with bands that is built on moving average.
The price range between the bands directly depends on relationship of Average True Range to Moving Average. This gives us very valuable variable constant that changes with the market moves.
So the bands expand and contract due to changes in volatility of the market, which makes this tool very flexible exposing psychological levels.
SMA VWAP BANDS [qrsq]Description
This indicator is used to find support and resistance utilizing both SMA and VWAP. It can be used on lower and higher time frames to understand where price is likely to reject or bounce.
How it works
Rather than using the usual calculation for the VWAP, instead this script smooths the volume first with the SMA and then respectively calculates the smoothed multiplication of high, low and close price with the volume individually. These values are then divided by the smoothed volume to find individual VWAP's for each of the sources. The standard deviations of these are calculated, resulting in an upper, lower and middle band. It is essentially VWAP bands with some smoothed calculations in the middle.
How to use it
I like to use the bands for LTF scalping as well as HTF swings.
For scalping:
I tend to use either the 5m or 15m TF
I then set the indicator's TF to 1m
I will take a scalp based on the bands confluence with other PA methods, if price is being either supported or rejected.
For swings:
I tend to use a variety of TFs, including: 30m, 1H, 4H, D
I then set the indicator's TF to "Chart"
I will take a swing based on the bands confluence with other PA methods, if price is being either supported or rejected.
I also tend to use them on perpetual contracts as the volume seems to be more consistent and hence results in more accurate support and resistance.
