Prevailing Trend IndicatorOVERVIEW
The Prevailing Trend indicator is a technical indicator that gauges whether the price is currently trending up or down. The purpose of this indicator is to call and/or filter with-trend signals.
CONCEPTS
This indicator assists traders in identifying high-probability trend entries. The upper line (blue line on the indicator) is calculated by taking the average range (high-low) of all bullish candles. The lower line (red line on the indicator) is calculated by taking the average range of all bearish candles. When these two lines intersect and cross each other, a buy and sell signal is generated. For example, if the blue line crosses over the red line, this indicates that the average size of all bullish bars are larger than the average size of all bearish bars. This is a good sign that an uptrend might occur. Vice versa for downtrends.
HOW DO I READ THIS INDICATOR
As an entry indicator:
When the blue line crosses over the red line, go long.
When the red line crosses over the blue line, go short.
As a signal filter:
If the blue line is above the red line, only take long trades.
If the red line is above the blue line, only take short trades.
Trend
AFRHi everyone! Sorry for not posting anything for so long again. I will be active in July, after passing my university exams. I bought some S&C magazine archives, so await my new post strategies and indicator in July, as things are gonna get real interesting! But for now let me hand you some new and interesting stuff — AFR indicator.
Actually, this is my third time republishing this indicator after a big timeout because of the battles with TV mods on reference politics (which I lost).
This is indicator was originaly made by some user from other trading website, which I can't mention because of TV reference politics.
Which principles are behind AFR?
First we define our own low and high (OL and OH respectively), which are equal to:
OL = open - ATR * ATR_Factor
OH = open + ATR * ATR_Factor,
where ATR — Average True Range,
ATR_Factor — "Factor" in the settings — multiplier for ATR.
On each tick we remember AFR's value from previous bar, if it is not 0.
When OL is greater then AFR, then AFR is equal to OL. It means that there is probably an uptrend, so we adjust AFR accordingly.
When OH is lower then AFR, then AFR is equal to OH. It means that there is probably a downtrend, so we adjust AFR accordingly.
How to use?
Green AFR — bullish trend.
Red AFR — bearish trend.
Green AFR's triangle up — buy signal — appears when AFR changes it's colour from red to green.
Red AFR's triangle down— sell signal — appears when AFR changes it's colour from green to red.
ALERTS INCLUDED!
My personal ecommendations
- You can AFR as a tool to find short-term and middle-term trends, as it does it's best to find such trends;
- If are a scalper, then you probably should try AFR on low factor settings, as AFR alone can find good scalping entries.
- As AFR is a trend indicator, please use it with other confirmation indicator to make better entries.
Hope you will find this script useful.
Take your profits!
- Tarasenko Fyodor
CANDLE STICK HEATMAPCANDLE STICK HEATMAP shows the statistics of a candle at a particular time. its very useful to find repeating pattern's at a particular time in a day.
based on the settings you can see regular repeating patterns of a day in an hourly chart. During a particular time in day there is always a down or up signal or candles.
The table boxes are candles in RED and GREEN based on open and close of the chart. The Heat map is very useful in analyzing the daily Hourly candlesticks in a week. The Time of each candlestick is plotted on the table along with default Indicators like RSI, MACD, EMA, VOLUME, ADX.
Additionally this can be used as a screener of candles on all timeframes. Analysis is easy when you want to see what happened exactly at a particular time in the previous hour, day, month etc.,
Hopefully additional updates will be introduced shortly.
Indicators:
1. MACD (close,12,26,9)
2.RSI (close,14)
3.EMA 200
3.Volume MA
Option is provided to show indicator statistics and time.
Color can be changed using settings.
Supports all Time Zones
Cumulative TICK [Pt]Cumulative TICK Indicator, shown as the bottom indicator, is a robust tool designed to provide traders with insights into market trends using TICK data. This indicator visualizes the cumulative TICK trend in the form of colored columns on a separate chart below the main price chart.
Here's an overview of the key features of the Cumulative TICK Indicator:
1. Selectable TICK Source 🔄: The indicator allows users to choose from four different TICK data sources, namely USI:TICK , USI:TICKQ , USI:TICKI , and $USI:TICKA.
2. TICK Data Type Selection 🎚️: Users can select the type of TICK data to be used. The options include: Close, Open, hl2, ohlc4, hlc3.
3. Optional Simple Moving Average (SMA) 📊: The indicator offers an option to apply an SMA to the Cumulative TICK values, with a customizable length.
4. After-hour Background Color 🌙: The background color changes during after-hours to provide a clear distinction between regular and after-hour trading sessions.
🛠️ How it Works:
The Cumulative TICK Indicator uses TICK data accumulated during the regular market hours (9:30-16:00) as per the New York time zone. At the start of a new session or at the end of the regular session, this cumulative TICK value is reset.
The calculated Cumulative TICK is plotted in a column-style graph. If the SMA is applied, the SMA values are used for the column plots instead. The columns are colored green when the Cumulative TICK is positive and red when it is negative. The shades of green and red vary based on whether the Cumulative TICK is increasing or decreasing compared to the previous value.
This is a simple yet powerful tool to track market sentiment throughout the day using TICK data. Please note that this indicator is intended to be used as part of a comprehensive trading strategy. Always ensure you are managing risk appropriately and consulting various data sources to make informed trading decisions.
Adaptive Gaussian Moving AverageThe Adaptive Gaussian Moving Average (AGMA) is a versatile technical indicator that combines the concept of a Gaussian Moving Average (GMA) with adaptive parameters based on market volatility. The indicator aims to provide a smoothed trend line that dynamically adjusts to different market conditions, offering a more responsive analysis of price movements.
Calculation:
The AGMA is calculated by applying a weighted moving average based on a Gaussian distribution. The length parameter determines the number of bars considered for the calculation. The adaptive parameter enables or disables the adaptive feature. When adaptive is true, the sigma value, which represents the standard deviation, is dynamically calculated using the standard deviation of the closing prices over the volatilityPeriod. When adaptive is false, a user-defined fixed value for sigma can be input.
Interpretation:
The AGMA generates a smoothed line that follows the trend of the price action. When the AGMA line is rising, it suggests an uptrend, while a declining line indicates a downtrend. The adaptive feature allows the indicator to adjust its sensitivity based on market volatility, making it more responsive during periods of high volatility and less sensitive during low volatility conditions.
Potential Uses in Strategies:
-- Trend Identification : Traders can use the AGMA to identify the direction of the prevailing trend. Buying opportunities may arise when the price is above the AGMA line during an uptrend, while selling opportunities may be considered when the price is below the AGMA line during a downtrend.
-- Trend Confirmation : The AGMA can be used in conjunction with other technical indicators or trend-following strategies to confirm the strength and sustainability of a trend. A strong and steady AGMA line can provide additional confidence in the prevailing trend.
-- Volatility-Based Strategies : Traders can utilize the adaptive feature of the AGMA to build volatility-based strategies. By adjusting the sigma value based on market volatility, the indicator can dynamically adapt to changing market conditions, potentially improving the accuracy of entry and exit signals.
Limitations:
-- Lagging Indicator : Like other moving averages, the AGMA is a lagging indicator that relies on historical price data. It may not provide timely signals during rapidly changing market conditions or sharp price reversals.
-- Whipsaw in Sideways Markets : During periods of low volatility or when the market is moving sideways, the AGMA may generate false signals or exhibit frequent crossovers around the price, leading to whipsaw trades.
-- Subjectivity of Parameters : The choice of length, adaptive parameters, and volatility period requires careful consideration and customization based on individual preferences and trading strategies. Traders need to adjust these parameters to suit the specific market and timeframe they are trading.
Overall, the Adaptive Gaussian Moving Average can be a valuable tool in trend identification and confirmation, especially when combined with other technical analysis techniques. However, traders should exercise caution, conduct thorough analysis, and consider the indicator's limitations when incorporating it into their trading strategies.
Average Variation Bands OscillatorSimilar to how a donchian% of channel helps to visualize trend and volatility, this tool helps identify those same characteristics, if the oscillator is generally above the 50 mark, it is considered to be trending upwards, and the reverse if it is generally bellow 50.
NSDT Horizontal VWAPThis script plots VWAP as a horizontal line starting at the most recent candle and extending backwards for a period of 10 to make it easier to see. (default is 10 but can be changed to fit your needs)
You may only want to see where VWAP is currently and not need to see the entire day. Helps keep the chart clean.
Colors and line settings can all be modified.
You can show the original VWAP plot as well for reference.
What Is the Volume-Weighted Average Price (VWAP)?
The volume-weighted average price (VWAP) is a technical analysis indicator used on intraday charts that resets at the start of every new trading session.
It's a trading benchmark that represents the average price a security has traded at throughout the day, based on both volume and price.
VWAP is important because it provides traders with pricing insight into both the trend and value of a security.
Cumulative TICK Trend[Pt]Cumulative TICK Trend indicator is a comprehensive trading tool that uses TICK data to define the market's cumulative trend. Trend is shown on ATR EMA bands, which is overlaid on the price chart. Cumulative TICK shown on the bottom pane is for reference only.
Main features of the Cumulative TICK Trend Indicator include:
Selectable TICK Source: You have the flexibility to choose your preferred TICK source from the following options, depending on the market you trade: USI:TICK, USI:TICKQ, USI:TICKI, and USI:TICKA.
TICK Data Type: Select the type of TICK data to use, options include: Close, Open, hl2, ohlc4, hlc3.
Simple Moving Average (SMA): You can choose to apply an SMA on the calculated Cumulative TICK values with a customizable length.
Average True Range (ATR) Bands: It provides the option to display ATR bands with adjustable settings. This includes the ATR period, EMA period, source for the ATR calculation, and the ATR multiplier for the upper band.
Trend Color Customization: You can customize the color of the bull and bear trends according to your preference.
Smooth Line Option: This setting allows you to smooth the ATR Bands with a customizable length.
How it Works:
This indicator accumulates TICK data during market hours (9:30-16:00) as per the New York time zone and resets at the start of a new session or the end of the regular session. This cumulative TICK value is then used to determine the trend.
The trend is defined as bullish if the SMA of cumulative TICK is equal to or greater than zero and bearish if it's less than zero. Additionally, this indicator plots the ATR bands, which can be used as volatility measures. The Upper ATR Band and Lower ATR Band can be made smoother using the SMA, according to the trader's preference.
The plot includes two parts for each trend: a stronger color (Red for bear, Green for bull) when the trend is ongoing, and a lighter color when the trend seems to be changing.
Remember, this tool is intended to be used as part of a comprehensive trading strategy. Always ensure you are managing risk appropriately and consulting various data sources to make informed trading decisions.
Interactive trendline - Proximity Doji & 3LSThis script was developed with Blockhead305 (seriously talented) and uses 1) the Three Line Strike from The Moving Average as well as 2) an original doji script written for me and 3) the Interactive Trendline as developed by Blockhead305. The basic premise is that should a doji or Three Line Strike occur within a customizable ATR distance from your trendline, an on-chart notification will appear or you could set an alarm to warn you if this has happened.
How to set this up:
Step 1 - Find a a trend
Step 2 - Identify the candles that touches the trendline
Step 3 - Click on the indicator
Step 4 - Set the X1 and Y1 coordinates for the start of the trend
Step 5 - Set the X2 and Y2 coordinates for the last relevant candle of the trend
Step 6 - Write the number in the yellow box down (in this case 880)
Step 7 - Open the settings of the indicator
Enter the number from the yellow box into the box titled "Run" - Press "OK"
Step 8 - Chart should/could now show Buy/Sell Signals for the Dojis and/or Bullish or Bearish Three Line Strikes
Notes
1. If your trendline is bearish (X1/Y1 is higher than X2/Y2) only bearish signals will appear and vice versa
2. You can change the ATR multiples from trendline in the settings - I prefer 2 (which is also the default)
3. You can toggle Big Engulfing and/or Three Line Strike on or off (exact functionality as per The Moving Average functionality)
4. You can construct the type of doji you would like to see at the bottom of the settings screen - I prefer the following settings:
Dominant Wick Multiple - 2
Recessive Wick Multiple - 2
Body Multiple - 5
5. I place my SL above last high (shorts) or last low (longs) but could also use the trendline for this
6. I use TP with RRR off 1:2 but much more is obviously possible.
7. ONLY ONE INTERACTIVE TRENDLINE CAN BE USED ON THE SAME CHART
8. THE NUMBER IN THE YELLOW BOX IS RELEVANT TO THE TIMEFRAME THAT THE TRENDLINE WAS CREATED ON. IF YOU CHANGE
TIMEFRAMES IT WILL NOT WORK
Happy to receive constructive criticism and/or suggestions for improvements on the settings.
Auto Trend ProjectionAuto Trend Projection is an indicator designed to automatically project the short-term trend based on historical price data. It utilizes a dynamic calculation method to determine the slope of the linear regression line, which represents the trend direction. The indicator takes into account multiple length inputs and calculates the deviation and Pearson's R values for each length.
Using the highest Pearson's R value, Auto Trend Projection identifies the optimal length for the trend projection. This ensures that the projected trend aligns closely with the historical price data.
The indicator visually displays the projected trend using trendlines. These trendlines extend into the future, providing a visual representation of the potential price movement in the short term. The color and style of the trendlines can be customized according to user preferences.
Auto Trend Projection simplifies the process of trend analysis by automating the projection of short-term trends. Traders and investors can use this indicator to gain insights into potential price movements and make informed trading decisions.
Please note that Auto Trend Projection is not a standalone trading strategy but a tool to assist in trend analysis. It is recommended to combine it with other technical analysis tools and indicators for comprehensive market analysis.
Overall, Auto Trend Projection offers a convenient and automated approach to projecting short-term trends, empowering traders with valuable insights into the potential price direction.
Strongest TrendlineUnleashing the Power of Trendlines with the "Strongest Trendline" Indicator.
Trendlines are an invaluable tool in technical analysis, providing traders with insights into price movements and market trends. The "Strongest Trendline" indicator offers a powerful approach to identifying robust trendlines based on various parameters and technical analysis metrics.
When using the "Strongest Trendline" indicator, it is recommended to utilize a logarithmic scale . This scale accurately represents percentage changes in price, allowing for a more comprehensive visualization of trends. Logarithmic scales highlight the proportional relationship between prices, ensuring that both large and small price movements are given due consideration.
One of the notable advantages of logarithmic scales is their ability to balance price movements on a chart. This prevents larger price changes from dominating the visual representation, providing a more balanced perspective on the overall trend. Logarithmic scales are particularly useful when analyzing assets with significant price fluctuations.
In some cases, traders may need to scroll back on the chart to view the trendlines generated by the "Strongest Trendline" indicator. By scrolling back, traders ensure they have a sufficient historical context to accurately assess the strength and reliability of the trendline. This comprehensive analysis allows for the identification of trendline patterns and correlations between historical price movements and current market conditions.
The "Strongest Trendline" indicator calculates trendlines based on historical data, requiring an adequate number of data points to identify the strongest trend. By scrolling back and considering historical patterns, traders can make more informed trading decisions and identify potential entry or exit points.
When using the "Strongest Trendline" indicator, a higher Pearson's R value signifies a stronger trendline. The closer the Pearson's R value is to 1, the more reliable and robust the trendline is considered to be.
In conclusion, the "Strongest Trendline" indicator offers traders a robust method for identifying trendlines with significant predictive power. By utilizing a logarithmic scale and considering historical data, traders can unleash the full potential of this indicator and gain valuable insights into price trends. Trendlines, when used in conjunction with other technical analysis tools, can help traders make more informed decisions in the dynamic world of financial markets.
Ultimate Trend LineThe "Ultimate Trend Line" indicator, designed for overlay on financial charts, calculates and plots a global trend line. It works by first allowing users to input several parameters such as different lengths for up to 21 groups, a multiplier that defines the deviation from the linear regression line for calculating the upper and lower bands, and a color for the fill.
Using these inputs, it calculates the upper and lower bands for each length group based on a multiple of the standard deviation from the linear regression line. It then averages these bands to define the global trend line, which is plotted on the graph.
Although the code includes commented-out lines for plotting each individual upper and lower band, the indicator as it stands only displays the overall average trend line. The line's color and linewidth can be adjusted according to user preferences.
This indicator can be effectively used on both logarithmic and linear scales. This versatility allows it to be adaptable to various types of financial charts and trading styles, providing a flexible tool for users to assess and visualize trend patterns across different market conditions and time frames. It maintains its accuracy and relevance, regardless of the scale used, thus making it a comprehensive solution for trend line analysis in diverse scenarios.
It's important to note that the "Ultimate Trend Line" indicator requires a substantial amount of historical data to function properly. If insufficient historical data is available, the indicator may not display accurately or at all. This issue is particularly prevalent when using larger time units, such as weekly or monthly charts, where the available data may not stretch back far enough to satisfy the requirements of the indicator. As such, users should ensure they are operating on a time scale and data set that provides adequate historical depth for the reliable operation of this indicator.
Advanced Trend Channel Detection (Log Scale)The Advanced Trend Channel Detection (Log Scale) indicator is designed to identify the strongest trend channels using logarithmic scaling. It does this by calculating the highest Pearson's R value among all length inputs and then determining which length input to use for the selected slope, average, and intercept. The script then draws the upper and lower deviation lines on the chart based on the selected slope, average, and intercept, and optionally displays the Pearson's R value.
To use this indicator, you will need to switch to logarithmic scale. There are several advantages to using logarithmic scale over regular scale. Firstly, logarithmic scale provides a better visualization of data that spans multiple orders of magnitude by compressing large ranges of values into a smaller space. Secondly, logarithmic scale can help to minimize the impact of outliers, making it easier to identify patterns and trends in the data. Finally, logarithmic scale is often utilized in scientific contexts as it can reveal relationships between variables that may not be visible on a linear scale.
If the trend channel does not appear on the chart, it may be necessary to scroll back to view historical data. The indicator uses past price data to calculate the trend channel, so if there is not enough historical data visible on the chart, the indicator may not be able to identify the trend channel. In this case, the user should adjust the chart's timeframe or zoom out to view more historical data. Additionally, the indicator may need to be recalibrated if there is a significant shift in market conditions or if the selected length input is no longer appropriate.
SuperBollingerTrend (Expo)█ Overview
The SuperBollingerTrend indicator is a combination of two popular technical analysis tools, Bollinger Bands, and SuperTrend. By fusing these two indicators, SuperBollingerTrend aims to provide traders with a more comprehensive view of the market, accounting for both volatility and trend direction. By combining trend identification with volatility analysis, the SuperBollingerTrend indicator provides traders with valuable insights into potential trend changes. It recognizes that high volatility levels often accompany stronger price momentum, which can result in the formation of new trends or the continuation of existing ones.
█ How Volatility Impacts Trends
Volatility can impact trends by expanding or contracting them, triggering trend reversals, leading to breakouts, and influencing risk management decisions. Traders need to analyze and monitor volatility levels in conjunction with trend analysis to gain a comprehensive understanding of market dynamics.
█ How to use
Trend Reversals: High volatility can result in more dramatic price fluctuations, which may lead to sharp trend reversals. For example, a sudden increase in volatility can cause a bullish trend to transition into a bearish one, or vice versa, as traders react to significant price swings.
Volatility Breakouts: Volatility can trigger breakouts in trends. Breakouts occur when the price breaks through a significant support or resistance level, indicating a potential shift in the trend. Higher volatility levels can increase the likelihood of breakouts, as they indicate stronger market momentum and increased buying or selling pressure. This indicator triggers when the volatility increases, and if the price is near a key level when the indicator alerts, it might trigger a great trend.
█ Features
Peak Signal Move
The indicator calculates the peak price move for each ZigZag and displays it under each signal. This highlights how much the market moved between the signals.
Average ZigZag Move
All price moves between two signals are stored, and the average or the median is calculated and displayed in a table. This gives traders a great idea of how much the market moves on average between two signals.
Take Profit
The Take Profit line is placed at the average or the median price move and gives traders a great idea of what they can expect in average profit from the latest signals.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
SuperTrend Long Strategy +TrendFilterThis strategy aims to identify long (buy) opportunities in the market using the SuperTrend indicator. It utilizes the Average True Range (ATR) and a multiplier to determine the dynamic support levels for entering long positions. This presentation will provide an overview of the strategy's components, explain its usage, and highlight that it focuses on long trades.
Components of the Strategy:
1. ATR Period: This input determines the period used for calculating the Average True Range (ATR). A higher value may result in smoother trend lines but may lag behind recent price changes.
2. Source (src): This input determines the price source used for calculations, with "hl2" (the average of high and low prices) set as the default.
3. ATR Multiplier: This input specifies the multiplier applied to the ATR value to determine the distance of the support levels from the source.
4. Change ATR Calculation Method: This input allows toggling between two methods of ATR calculation: the default method using atr() or a simple moving average (SMA) of ATR values (sma(tr, Periods)).
5. Show Buy/Sell Signals: This input enables or disables the display of buy and sell signals on the chart.
6. Highlighter On/Off: This input controls whether highlighting of up and down trends is displayed on the chart.
7. Bar Coloring On/Off: This input determines whether the bars on the chart are colored based on the trend direction.
8. The "SuperTrend Long STRATEGY" has been enhanced by incorporating a trend filter. A moving average is used as the filter to confirm the prevailing trend before executing trades. This addition effectively reduces false signals and improves the strategy's reliability, all while maintaining its original name.
Strategy Logic:
1. The strategy calculates the upper (up) and lower (dn) trend lines based on the ATR value and the chosen multiplier.
2. The trend variable keeps track of the current trend, with 1 indicating an uptrend and -1 indicating a downtrend.
3. Buy and sell signals are generated based on the change in trend direction.
4. The strategy includes an optional highlighting feature that colors the chart background based on the current trend.
5. Additionally, the bar coloring feature colors the bars based on the direction of the last trend change.
Usage:
1. ATR Period and ATR Multiplier can be adjusted based on the desired sensitivity and risk tolerance.
2. Buy and sell signals can be displayed using the Show Buy/Sell Signals input, providing clear indications of entry and exit points.
3. The Highlighter On/Off input allows users to visually identify the prevailing trend by coloring the chart background.
4. The Bar Coloring On/Off input offers a quick visual reference for the most recent trend change.
Long Strategy:
The SuperTrend Long Strategy is specifically designed to identify long (buy) opportunities. It generates buy signals when the current trend changes from a downtrend to an uptrend, indicating a potential entry point for long positions. The strategy aims to capture upward price movements and maximize profits during bullish market conditions.
The SuperTrend Long Strategy provides traders with a systematic approach to identifying long trade opportunities. By leveraging the SuperTrend indicator and dynamic support levels, this strategy aims to generate buy signals in uptrending markets. Traders can customize the inputs and utilize the visual features to adapt the strategy to their specific trading preferences.
The modification adds a trend filter to the "SuperTrend Long STRATEGY" to improve its effectiveness. The trend filter uses a moving average to confirm the prevailing trend before taking trades. This addition helps filter out false signals and enhances the strategy's reliability without changing its name.
RSI Trending with DivergencesThis script uses the RSI and RSI divergences to mark signals where the rsi is both below/above the 50, below/above its moving average, and where the last regular or hidden divergence matches that state. The RSI is built into the indicator, so you don't need it in your bottom pane if you don't want it, I just put one there for illustrative purposes. Please note it will not print the same signal consecutively, as it is meant to show an overall direction, not the in and out fluctuations. I suggest using it in conjunction with some moving averages so you can ignore signals not in the trend.
Bollinger Bands - Breakout StrategyThe Bollinger Bands - Breakout Strategy is a trend-following optimized for short-term trading in the crypto market. This strategy employs the Bollinger Bands, a widely recognized technical indicator, as its primary instrument for pinpointing potential trades. It is capable of executing both long and short positions, depending on whether the market is in a spot or futures, and is particularly effective in trending markets.
The strategy boasts a high degree of configurability, allowing users to set the Bollinger Bands period and deviation, trend filter, volatility filter, trade direction filter, rate of change filter, and date filter. Furthermore, it offers options for Take Profit, Stop Loss, and Trailing Stop for both long and short positions, ensuring a comprehensive risk management approach. The inclusion of a maximum intraday loss feature adds another layer of protection, making this strategy a valuable tool for traders seeking a professional and adaptable trading system.
Name : Bollinger Bands - Breakout Strategy
Category : Trend Follower based on Bollinger Bands
Operating mode : Long and Short on Futures or Long on Spot
Trade duration : Intraday
Timeframe : 2H, 3H, 4H, 5H
Market : Crypto
Suggested usage : Trending Markets
Entry : When the price crosses above or below the Bollinger Bands
Exit : Opposite Cross or Profit target, Trailing stop or Stop loss
Configuration :
- Bollinger Bands period and deviation
- Trend Filter
- Volatility Filter
- Trade direction filter
- Rate of Change filter
- Date Filter (for backtesting purposes)
- Take Profit, Stop Loss and Trailing Stop for long and short positions
- Risk Management: Max Intraday Loss
Backtesting :
⁃ Exchange: BINANCE
⁃ Pair: BTCUSDT.P
⁃ Timeframe: 4H
⁃ Fee: 0.025%
⁃ Slippage: 1
- Initial Capital: 10000 USDT
- Position sizing: 10% of Equity
- Start : 2019-09-19 (Out Of Sample from 2022-12-23)
- Bar magnifier: on
Credits :
- LucF of Pine Coders for f_security function to avoid repainting using security.
- QuantNomad for Monthly Table.
Disclaimer : Risk Management is crucial, so adjust stop loss to your comfort level. A tight stop loss can help minimise potential losses. Use at your own risk.
How you or we can improve? Source code is open so share your ideas!
Leave a comment and smash the boost button!
Thanks for your attention, happy to support the TradingView community.
Trend Reversal Probability CalculatorThe "Trend Reversal Probability Calculator" is a TradingView indicator that calculates the probability of a trend reversal based on the crossover of multiple moving averages and the rate of change (ROC) of their slopes. This indicator is designed to help traders identify potential trend reversals by providing signals when the short-term moving averages start to slope in the opposite direction of the long-term moving average.
To use the indicator, simply add it to your TradingView chart and adjust the input parameters according to your preferences. The input parameters include the length of the moving averages, the ROC length (trend sensitivity), and the reversal sensitivity (signal percentage).
The indicator calculates the ROC of the moving averages and determines if the short-term moving averages are sloping in the opposite direction of the long-term moving average. The number of short-term moving averages that meet this condition is then counted, and the probability of a trend reversal is calculated based on the percentage of short-term moving averages that meet this condition.
When the probability of a trend reversal is high, a bullish or bearish signal is generated, depending on the direction of the reversal. The bullish signal is generated when the short-term moving averages start to slope upward, and the bearish signal is generated when the short-term moving averages start to slope downward.
Traders can use the "Trend Reversal Probability Calculator" to identify potential trend reversals and adjust their trading strategies accordingly. It is important to note that this indicator is not a guarantee of a trend reversal and should be used in conjunction with other technical analysis tools to make informed trading decisions.
SuperTrend with Chebyshev FilterModified Super Trend with Chebyshev Filter
The Modified Super Trend is an innovative take on the classic Super Trend indicator. This advanced version incorporates a Chebyshev filter, which significantly enhances its capabilities by reducing false signals and improving overall signal quality. In this post, we'll dive deep into the Modified Super Trend, exploring its history, the benefits of the Chebyshev filter, and how it effectively addresses the challenges associated with smoothing, delay, and noise.
History of the Super Trend
The Super Trend indicator, developed by Olivier Seban, has been a popular tool among traders since its inception. It helps traders identify market trends and potential entry and exit points. The Super Trend uses average true range (ATR) and a multiplier to create a volatility-based trailing stop, providing traders with a dynamic tool that adapts to changing market conditions. However, the original Super Trend has its limitations, such as the tendency to produce false signals during periods of low volatility or sideways trading.
The Chebyshev Filter
The Chebyshev filter is a powerful mathematical tool that makes an excellent addition to the Super Trend indicator. It effectively addresses the issues of smoothing, delay, and noise associated with traditional moving averages. Chebyshev filters are named after Pafnuty Chebyshev, a renowned Russian mathematician who made significant contributions to the field of approximation theory.
The Chebyshev filter is capable of producing smoother, more responsive moving averages without introducing additional lag. This is possible because the filter minimizes the worst-case error between the ideal and the actual frequency response. There are two types of Chebyshev filters: Type I and Type II. Type I Chebyshev filters are designed to have an equiripple response in the passband, while Type II Chebyshev filters have an equiripple response in the stopband. The Modified Super Trend allows users to choose between these two types based on their preferences.
Overcoming the Challenges
The Modified Super Trend addresses several challenges associated with the original Super Trend:
Smoothing: The Chebyshev filter produces a smoother moving average without introducing additional lag. This feature is particularly beneficial during periods of low volatility or sideways trading, as it reduces the number of false signals.
Delay: The Chebyshev filter helps minimize the delay between price action and the generated signal, allowing traders to make timely decisions based on more accurate information.
Noise Reduction: The Chebyshev filter's ability to minimize the worst-case error between the ideal and actual frequency response reduces the impact of noise on the generated signals. This feature is especially useful when using the true range as an offset for the price, as it helps generate more reliable signals within a reasonable time frame.
The Great Replacement
The Modified Super Trend with Chebyshev filter is an excellent replacement for the original Super Trend indicator. It offers significant improvements in terms of signal quality, responsiveness, and accuracy. By incorporating the Chebyshev filter, the Modified Super Trend effectively reduces the number of false signals during low volatility or sideways trading, making it a more reliable tool for identifying market trends and potential entry and exit points.
In-Depth Guide to the Modified Super Trend Settings
The Modified Super Trend with Chebyshev filter offers a wide range of settings that allow traders to fine-tune the indicator to suit their specific trading styles and objectives. In this section, we will discuss each setting in detail, explaining its purpose and how to use it effectively.
Source
The source setting determines the price data used for calculations. The default setting is hl2, which calculates the average of the high and low prices. You can choose other price data sources such as close, open, or ohlc4 (average of open, high, low, and close prices) based on your preference.
Up Color and Down Color
These settings control the color of the trend line when the market is in an uptrend (up_color) and a downtrend (down_color). You can customize these colors to your liking, making it easier to visually identify the current market trend.
Text Color
This setting controls the color of the text displayed on the chart when using labels to indicate trend changes. You can choose any color that contrasts well with your chart background for better readability.
Mean Length
The mean_length setting determines the length (number of bars) used for the Chebyshev moving average calculation. A shorter length will make the moving average more responsive to price changes, while a longer length will produce a smoother moving average. It is crucial to find the right balance between responsiveness and smoothness, as a too-short length may generate false signals, while a too-long length might produce lagging signals. The default value is 64, but you can experiment with different values to find the optimal setting for your trading strategy.
Mean Ripple
The mean_ripple setting influences the Chebyshev filter's ripple effect in the passband (Type I) or stopband (Type II). The ripple effect represents small oscillations in the frequency response, which can impact the moving average's smoothness. The default value is 0.01, but you can experiment with different values to find the best balance between smoothness and responsiveness.
Chebyshev Type: Type I or Type II
The style setting allows you to choose between Type I and Type II Chebyshev filters. Type I filters have an equiripple response in the passband, while Type II filters have an equiripple response in the stopband. Depending on your preference for smoothness and responsiveness, you can choose the type that best fits your trading style.
ATR Style
The atr_style setting determines the method used for calculating the Average True Range (ATR). By default (false), it uses the traditional high-low range. When set to true, it uses the absolute difference between the open and close prices. You can choose the method that works best for your trading strategy and the market you are trading.
ATR Length
The atr_length setting controls the length (number of bars) used for calculating the ATR. Similar to the mean_length, a shorter length will make the ATR more responsive to price changes, while a longer length will produce a smoother ATR. The default value is 64, but you can experiment with different values to find the optimal setting for your trading strategy.
ATR Ripple
The atr_ripple setting, like the mean_ripple, influences the ripple effect of the Chebyshev filter used in the ATR calculation. The default value is 0.05, but you can experiment with different values to find the best balance between smoothness and responsiveness.
Multiplier
The multiplier setting determines the factor by which the ATR is multiplied before being added
Super Trend Logic and Signal Optimization
The Modified Super Trend with Chebyshev filter is designed to minimize false signals and provide a clear indication of market trends. It does so by using a combination of moving averages, Average True Range (ATR), and a multiplier. In this section, we will discuss the Super Trend's logic, its ability to prevent false signals, and the early warning crosses added to the indicator.
Super Trend Logic
The Super Trend's logic is based on a combination of the Chebyshev moving average and ATR. The Chebyshev moving average is a smooth moving average that effectively filters out market noise, while the ATR is a measure of market volatility.
The Super Trend is calculated by adding or subtracting a multiple of the ATR from the Chebyshev moving average. The multiplier is a user-defined value that determines the distance between the trend line and the price action. A larger multiplier results in a wider channel, reducing the likelihood of false signals but potentially missing out on valid trend changes.
Preventing False Signals
The Super Trend is designed to minimize false signals by maintaining its trend direction until a significant change in the market occurs. In a downtrend, the trend line will only decrease in value, and in an uptrend, it will only increase. This helps prevent false signals caused by temporary price fluctuations or market noise.
When the price crosses the trend line, the Super Trend does not immediately change its direction. Instead, it employs a safety logic to ensure that the trend change is genuine. The safety logic checks if the new trend line (calculated using the updated moving average and ATR) is more extreme than the previous one. If it is, the trend line is updated; otherwise, the previous trend line is maintained. This mechanism further reduces the likelihood of false signals by ensuring that the trend line only changes when there is a significant shift in the market.
Early Warning Crosses
To provide traders with additional insight, the Modified Super Trend with Chebyshev filter includes early warning crosses. These crosses are plotted on the chart when the price crosses the trend line without the safety logic. Although these crosses do not necessarily indicate a trend change, they can serve as a valuable heads-up for traders to monitor the market closely and prepare for potential trend reversals.
In conclusion, the Modified Super Trend with Chebyshev filter offers a significant improvement over the original Super Trend indicator. By incorporating the Chebyshev filter, this modified version effectively addresses the challenges of smoothing, delay, and noise reduction while minimizing false signals. The wide range of customizable settings allows traders to tailor the indicator to their specific needs, while the inclusion of early warning crosses provides valuable insight into potential trend reversals.
Ultimately, the Modified Super Trend with Chebyshev filter is an excellent tool for traders looking to enhance their trend identification and decision-making abilities. With its advanced features, this indicator can help traders navigate volatile markets with confidence, making more informed decisions based on accurate, timely information.
Normalized KAMA Oscillator | Ikke OmarThis indicator demonstrates the creation of a normalized KAMA (Kaufman Adaptive Moving Average) oscillator with a table display. I will explain how the code works, providing a step-by-step breakdown. This is personally made by me:)
Input Parameters:
fast_period and slow_period: Define the periods for calculating the KAMA.
er_period: Specifies the period for calculating the Efficiency Ratio.
norm_period: Determines the lookback period for normalizing the oscillator.
Efficiency Ratio (ER) Calculation:
Measures the efficiency of price changes over a specified period.
Calculated as the ratio of the absolute price change to the total price volatility.
Smoothing Constant Calculation:
Determines the smoothing constant (sc) based on the Efficiency Ratio (ER) and the fast and slow periods.
The formula accounts for the different periods to calculate an appropriate smoothing factor.
KAMA Calculation:
Uses the Exponential Moving Average (EMA) and the smoothing constant to compute the KAMA.
Combines the fast EMA and the adjusted price change to adapt to market conditions.
Oscillator Normalization:
Normalizes the oscillator values to a range between -0.5 and 0.5 for better visualization and comparison.
Determines the highest and lowest values of the KAMA within the specified normalization period.
Transforms the KAMA values into a normalized range.
By incorporating the Efficiency Ratio, smoothing constant, and normalization techniques, the indicator actually allows for the identification of trends on different timeframes, even in extreme market conditions.
The normalization makes it much more adaptive than if you were to just use a normal KAMA line. This way you actually get a lot more data by looking at the histogram, rather than just the KAMA line.
I essentially made the KAMA into an oscillator! Please ask if you want me to code another indicator
I hope you enjoyed this.
Please ask if you have any questions<3
Trend forecasting by c00l75----------- ITALIANO -----------
Questo codice è uno script di previsione del trend creato solo a scopo didattico. Utilizza una media mobile esponenziale (EMA) e una media mobile di Hull (HMA) per calcolare il trend attuale e prevedere il trend futuro. Il codice utilizza anche una regressione lineare per calcolare il trend attuale e un fattore di smorzamento per regolare l’effetto della regressione lineare sulla previsione del trend. Infine il codice disegna due linee tratteggiate per mostrare la previsione del trend per i periodi futuri specificati dall’utente. Se ti piace l'idea mettimi un boost e lascia un commento!
----------- ENGLISH -----------
This code is a trend forecasting script created for educational purposes only. It uses an exponential moving average (EMA) and a Hull moving average (HMA) to calculate the current trend and forecast the future trend. The code also uses a linear regression to calculate the current trend and a damping factor to adjust the effect of the linear regression on the trend prediction. Finally, the code draws two dashed lines to show the trend prediction for future periods specified by the user. If you like the idea please put a boost and leave a comment!
RDX Relative Directional IndexRDX Relative Directional Index, Strength + Direction + Trend. This indicator is the combination of RSI and DMI or ADX. RDX aims at providing Relative direction of the price along with strength of the trend. This acts as both RSI and Average Directional Index. as the strength grows the RSI line becomes wider and when there is high volatility and market fluctuation the line becomes thinner. Color decides the Direction. This indicator provides sideways detection of RSI signal.
RDX Width: This determines the strength of RSI and Strength of ADX, The strength grows RDX band grows wider, as strength decreases band shrinks and merge into the RSI line. for exact working simply disable RSI plot on the indicator. when there is no strength the RSI vanishes..
Technical:
RSI : with default 14 period
ADX : Default 14 period
RDX=RSI+(ADX-20)/5
Color Code:
Red: Down Direction
Green: Up Direction
Sideways:
A rectangular channel is plotted on RSI 50 Level
Oversold Overbought:
Oversold and Overbought Levels are plotted for normal RSI Oversold and Overbought detection.
Buy/Sell:
Buy sell signals from ADX crossover are plotted and its easy to determine
Strength + Direction + Trend in one go
Hope the community likes this...
Contibute for more ideas and indicators..
Sushi Trend [HG]🍣 The Sushi Roll, a trading concept conceived at a restaurant by Mark Fisher.
While the indicator itself goes by Sushi Trend, it is completely backed by the idea of Mark Fisher's Sushi Roll Reversal Pattern. No, it has nothing to do with raw fish, it just so happens that somebody was ordering sushi during the discussion of the idea, and that's how it got its name.
📝 Origin
First mentioned in his book, The Logical Trader --- the idea of the Sushi Roll is to serve as an early warning system to identify reversals in the market. Fisher defines the pattern as a series of 10 bars, split into two different sections, seen as 5 and 5. In order for the pattern to be emitted, the 5 bars to the right must completely engulf the 5 bars to the left. It's not a super complex system and is in fact extremely simple to grasp.
📈 Supertrend Similarities
Instead of displaying the pattern in the way Fisher meant for it to be portrayed (as seen in the photo above), I instead turned it into an indicator similar to that of Supertrend while also inheriting the same concepts from the pattern. I did this because the pattern itself has inconsistencies which can be quite noticeable when trading with it after a while. For example, these patterns can occur even during consolidating periods, and even though the pattern is meant to be recognized during trending markets, the engulfing bars can sometimes be left with indecisive directions.
➡️ The Result
Here is the result, visualized to be better in a trending format. (The indicator will not contain the boxes.)
While Fisher does mention the pattern to include 10 bars, you can actually use this pattern with any number of bars. At the end of the day, it's a concept derived from a discussion at a Japanese restaurant, and a pattern that has been around for years that has seen results. Due to this, I added an input option to control the series of bars for right-bar engulf detection.
To reassure the meaning of the pattern --> "A series of 10 bars" means 5 left bars and 5 right bars. So if you want to check if 5 right bars are engulfing the previous 5 bars (as seen in the photo above), you would want to select 5 in the input settings.
You can learn more about it from the following links
Market Reversals and the Sushi Roll Technique
The Logical Trader
