70% rule strength/trend/reversalThis indicator tells you which candle closed strong for the day by identifying if the price closed above 70% of the candle's total height. this can help you identify reversals/new trends/ renewed strength in the current trend.
The indicator colors such candle green and if the candle closes with increase in price by 5% or higher then marks an asterisk under the candle.
HOPE THIS HELPS
Trend Analysis
Smart Money Concepts IndicatorBEST ICT AND SMC INDICATOR
The **Smart Money Concepts Indicator** is designed to enhance trading decisions by incorporating key principles from Smart Money Concepts (SMC), focusing on the detection of market structure changes, liquidity zones, order flow, and order blocks. This indicator is particularly useful for traders looking to understand market dynamics and make informed trading decisions based on advanced market analysis.
#### Key Features:
1. **Break of Structure (BOS)**:
- Identifies upward and downward breaks in market structure, indicating potential trend reversals.
- Visual markers on the chart help traders spot these critical levels.
2. **Change of Character (CHOCH)**:
- Detects significant changes in market direction, highlighting potential shifts in momentum.
- Clearly labeled signals indicate when the market may be changing its character.
3. **Order Blocks**:
- Highlights order blocks, which are key areas where significant buying or selling has occurred.
- Provides visual cues for potential support and resistance zones.
4. **Liquidity Zones**:
- Marks liquidity zones, indicating areas where buy-side or sell-side liquidity may be targeted.
- Helps traders understand where the market might draw liquidity.
5. **Dynamic Take Profit and Stop Loss Levels**:
- Calculates and plots take profit (TP) and stop loss (SL) levels based on the Average True Range (ATR) for adaptive risk management.
- Customizable multipliers allow traders to adjust levels based on their risk tolerance.
6. **Order Flow Analysis**:
- Displays bullish and bearish order flow signals based on candle close relative to open.
- Provides insights into market sentiment and potential future price action.
#### How to Use:
- **Identifying Entry and Exit Points**: Use BOS and CHOCH signals to find potential entry points, while leveraging TP and SL levels for risk management.
- **Market Analysis**: Analyze order blocks and liquidity zones to make informed decisions on market behavior.
- **Visual Confirmation**: The clear visual cues provided by the indicator make it easier to interpret market movements and align trades with institutional behavior.
#### Conclusion:
The Smart Money Concepts Indicator is an invaluable tool for traders looking to enhance their understanding of market structure and make more informed trading decisions. By integrating advanced concepts like BOS, CHOCH, and liquidity analysis, this indicator helps traders navigate the complexities of the market with greater confidence.
Delta Candle ColorsThe Delta Divergences indicator provides a visual representation of volume delta, which measures the difference between buying pressure and selling pressure within a candle. This is achieved by using intrabar (lower timeframe) volume and price fluctuations to estimate the delta between buying and selling pressure within each bar.
By color-coding candles based on this volume delta, traders can gain insight into the strength behind price movements and spot potential divergences. When a candle closes positively (higher than the previous close) but the volume delta is negative (more selling than buying), or when a candle closes negatively with a positive delta (more buying than selling), it indicates a divergence. These divergences can signal potential trend exhaustion or possible reversals.
The indicator includes custom alerts that notify the trader when these divergences occur:
Positive close with negative delta: Signals that the price is rising, but selling pressure is higher.
Negative close with positive delta: Signals that the price is falling, but buying pressure is higher.
In addition to color-coding candles based on delta, the indicator provides an option to display delta labels directly on the chart for each candle.
Finally, the option to only show divergences can be turned on. When enabled, non-divergent candles are colored normally, while only candles with delta divergences are highlighted, allowing traders to focus on the most relevant market information.
Dynamic Buy/Sell VisualizationDynamic Trend Visualization Indicator
Description:
This simple and easy to use indicator has helped me stay in trades longer.
This indicator is designed to visually represent potential buy and sell signals based on the crossover of two Simple Moving Averages (SMA). It's crafted to assist traders in identifying trend directions in a straightforward manner, making it an excellent tool for both beginners and experienced traders.
Features:
Customizable Moving Averages: Users can adjust the period length for both short-term (default: 10) and long-term (default: 50) SMAs to suit their trading strategy.
Visual Signals: Dynamic lines appear at the points of SMA crossover, with labels to indicate 'BUY' or 'SELL' opportunities.
Color and Style Customization: Customize the appearance of the buy and sell lines for better chart readability.
Alert Functionality: Alerts are set up to notify users when a crossover indicating a buy or sell condition occurs.
How It Works:
A 'BUY' signal is generated when the short-term SMA crosses above the long-term SMA, suggesting an upward trend.
A 'SELL' signal is indicated when the short-term SMA crosses below the long-term SMA, pointing to a potential downward trend.
Use Cases:
Trend Following: Ideal for markets with clear trends. For example, if trading EUR/USD on a daily chart, setting the short SMA to 10 days and the long SMA to 50 days might help in capturing longer-term trends.
Scalping: In a volatile market, setting shorter periods (e.g., 5 for short SMA and 20 for long SMA) might catch quicker trend changes, suitable for scalping.
Examples of how to use
* Short-term for Quick Trades:
SMA 5 and SMA 21:
Purpose: This combination is tailored for day traders or those looking to engage in scalping. The 5 SMA will react rapidly to price changes, providing early signals for buy or sell opportunities. The 21 SMA, being a Fibonacci number, offers a slightly longer-term view to confirm the short-term trend, helping to filter out minor fluctuations that might lead to false signals.
* Middle-term for Swing Trading:
SMA 10 and SMA 50:
Purpose: Suited for swing traders who aim to capitalize on medium-term trends. The 10 SMA picks up on immediate market movements, while the 50 SMA gives insight into the medium-term direction. This setup helps in identifying when a short-term trend aligns with a longer-term trend, providing a good balance for trades that might last several days to a couple of weeks.
* Long-term Trading:
SMA 50 and SMA 200:
Purpose: Investors focusing on long-term trends would benefit from this pair. The crossover of the 50 SMA over the 200 SMA can indicate the beginning or end of major market trends, ideal for making decisions about long-term holdings that might span months or years.
Example Strategy if not using the Buy / Sell Label Alerts:
Entry Signal: Enter a long position when the shorter SMA crosses above the longer SMA. For example:
SMA 10 crosses above SMA 50 for a medium-term bullish signal.
Exit Signal: Consider exiting or initiating a short position when:
SMA 10 crosses below SMA 50, suggesting a bearish turn in the medium-term trend.
Confirmation: Use these crossovers in conjunction with other indicators like volume or momentum indicators for better confirmation. For instance, if you're using the 5/21 combination, look for volume spikes on crossovers to confirm the move's strength.
When Not to Use:
Sideways or Range-Bound Markets: The indicator might generate many false signals in a non-trending market, leading to potential losses.
High Volatility Without Clear Trends: Rapid price movements without a consistent direction can result in misleading crossovers.
As a Standalone Tool: It should not be used in isolation. Combining with other indicators like RSI or MACD for confirmation can enhance trading decisions.
Practical Example:
Buy Signal: If you're watching Apple Inc. (AAPL) on a weekly chart, a crossover where the 10-week SMA moves above the 50-week SMA could suggest a buying opportunity, especially if confirmed by volume increase or other technical indicators.
Sell Signal: Conversely, if the 10-week SMA dips below the 50-week SMA, it might be time to consider selling, particularly if other bearish signals are present.
Conclusion:
The "Dynamic Trend Visualization" indicator provides a visual aid for trend-following strategies, offering customization and alert features to streamline the trading process. However, it's crucial to use this in conjunction with other analysis methods to mitigate the risks of false signals or market anomalies.
Legal Disclaimer:
This indicator is for educational purposes only. It does not guarantee profits or provide investment advice. Trading involves risk; please conduct thorough or consult with a financial advisor. The creator is not responsible for any losses incurred. By using this indicator, you agree to these terms.
[Spinn] LeveragesThis indicator is designed to visually measure the levels of the position at different leverage values. It acts as a "ruler", the level of levels at which it can cause liquidation, which helps the trader estimate whether it is gradually risky to use this or that leverage.
The indicator works in two modes:
Basic mode:
Levels of prescriptions for standard leverage values (1x, 2x, 5x, etc.), allowing you to quickly assess the risk of consequences when using these coefficients.
Pivots mode:
Levels are built on the basis of local extremes (pivots) on the visible section of the chart, tied to key reversal points.
The pivot is determined by the number of bars to the left and right of it, which is set as a source (the number of bars to the right of each specific roller does not matter).
In this mode, levels will be shown only for the visible part of the chart.
Color marking: green indicates liquidation levels for longs, red - for shorts. Each approach corresponds to a price tag for ease of use.
It is important to note that the indicator uses pure coefficients, without taking into account exchange commissions and other adjustments. Therefore, the calculated levels may not coincide with the actual liquidation levels on the exchanges.
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Данный индикатор предназначен для визуальной оценки уровней ликвидации позиций при разных значениях плеча. Он выступает в роли «линейки», показывая уровни, на которых может произойти ликвидация, что помогает трейдеру прикинуть, насколько рискованно использовать то или иное плечо.
Индикатор работает в двух режимах:
Режим Basic (базовый):
Уровни привязаны к стандартным значениям плеча (1x, 2x, 5x и т. д.), позволяя быстро оценить риск ликвидации при использовании этих коэффициентов.
Режим Pivots (пивотный):
Уровни строятся на основе локальных экстремумов (пивотов) на видимом участке графика, привязываясь к ключевым точкам разворота.
Пивот определяется по количеству баров слева и справа от него, что задается в настройках (количество баров справа от пивота особой роли не играет).
В этом режиме будут показаны уровни только для видимой части графика.
Цветовая маркировка: зелёным обозначены уровни ликвидаций лонгов, красным — шортов. Каждому уровню соответствует метка с ценой для удобства работы.
Важно отметить, что индикатор использует чистые коэффициенты, без учета комиссий бирж и других поправок. Поэтому рассчитанные уровни могут не совпадать с фактическими уровнями ликвидации на биржах.
[Defaust] Fractals Fractals Indicator
Overview
The Fractals Indicator is a technical analysis tool designed to help traders identify potential reversal points in the market by detecting fractal patterns. This indicator is a fork of the original fractals indicator, with adjustments made to the plotting for enhanced visual clarity and usability.
What Are Fractals?
In trading, a fractal is a pattern consisting of five consecutive bars (candlesticks) that meet specific conditions:
Up Fractal (Potential Sell Signal): Occurs when a high point is surrounded by two lower highs on each side.
Down Fractal (Potential Buy Signal): Occurs when a low point is surrounded by two higher lows on each side.
Fractals help traders identify potential tops and bottoms in the market, signaling possible entry or exit points.
Features of the Indicator
Customizable Periods (n): Allows you to define the number of periods to consider when detecting fractals, offering flexibility to adapt to different trading strategies and timeframes.
Enhanced Plotting Adjustments: This fork introduces adjustments to the plotting of fractal signals for better visual representation on the chart.
Visual Signals: Plots up and down triangles on the chart to signify down fractals (potential bullish signals) and up fractals (potential bearish signals), respectively.
Overlay on Chart: The fractal signals are overlaid directly on the price chart for immediate visualization.
Adjustable Precision: You can set the precision of the plotted values according to your needs.
Pine Script Code Explanation
Below is the Pine Script code for the Fractals Indicator:
//@version=5 indicator(" Fractals", shorttitle=" Fractals", format=format.price, precision=0, overlay=true)
// User input for the number of periods to consider for fractal detection n = input.int(title="Periods", defval=2, minval=2)
// Initialize flags for up fractal detection bool upflagDownFrontier = true bool upflagUpFrontier0 = true bool upflagUpFrontier1 = true bool upflagUpFrontier2 = true bool upflagUpFrontier3 = true bool upflagUpFrontier4 = true
// Loop through previous and future bars to check conditions for up fractals for i = 1 to n // Check if the highs of previous bars are less than the current bar's high upflagDownFrontier := upflagDownFrontier and (high < high ) // Check various conditions for future bars upflagUpFrontier0 := upflagUpFrontier0 and (high < high ) upflagUpFrontier1 := upflagUpFrontier1 and (high <= high and high < high ) upflagUpFrontier2 := upflagUpFrontier2 and (high <= high and high <= high and high < high ) upflagUpFrontier3 := upflagUpFrontier3 and (high <= high and high <= high and high <= high and high < high ) upflagUpFrontier4 := upflagUpFrontier4 and (high <= high and high <= high and high <= high and high <= high and high < high )
// Combine the flags to determine if an up fractal exists flagUpFrontier = upflagUpFrontier0 or upflagUpFrontier1 or upflagUpFrontier2 or upflagUpFrontier3 or upflagUpFrontier4 upFractal = (upflagDownFrontier and flagUpFrontier)
// Initialize flags for down fractal detection bool downflagDownFrontier = true bool downflagUpFrontier0 = true bool downflagUpFrontier1 = true bool downflagUpFrontier2 = true bool downflagUpFrontier3 = true bool downflagUpFrontier4 = true
// Loop through previous and future bars to check conditions for down fractals for i = 1 to n // Check if the lows of previous bars are greater than the current bar's low downflagDownFrontier := downflagDownFrontier and (low > low ) // Check various conditions for future bars downflagUpFrontier0 := downflagUpFrontier0 and (low > low ) downflagUpFrontier1 := downflagUpFrontier1 and (low >= low and low > low ) downflagUpFrontier2 := downflagUpFrontier2 and (low >= low and low >= low and low > low ) downflagUpFrontier3 := downflagUpFrontier3 and (low >= low and low >= low and low >= low and low > low ) downflagUpFrontier4 := downflagUpFrontier4 and (low >= low and low >= low and low >= low and low >= low and low > low )
// Combine the flags to determine if a down fractal exists flagDownFrontier = downflagUpFrontier0 or downflagUpFrontier1 or downflagUpFrontier2 or downflagUpFrontier3 or downflagUpFrontier4 downFractal = (downflagDownFrontier and flagDownFrontier)
// Plot the fractal symbols on the chart with adjusted plotting plotshape(downFractal, style=shape.triangleup, location=location.belowbar, offset=-n, color=color.gray, size=size.auto) plotshape(upFractal, style=shape.triangledown, location=location.abovebar, offset=-n, color=color.gray, size=size.auto)
Explanation:
Input Parameter (n): Sets the number of periods for fractal detection. The default value is 2, and it must be at least 2 to ensure valid fractal patterns.
Flag Initialization: Boolean variables are used to store intermediate conditions during fractal detection.
Loops: Iterate through the specified number of periods to evaluate the conditions for fractal formation.
Conditions:
Up Fractals: Checks if the current high is greater than previous highs and if future highs are lower or equal to the current high.
Down Fractals: Checks if the current low is lower than previous lows and if future lows are higher or equal to the current low.
Flag Combination: Logical and and or operations are used to combine the flags and determine if a fractal exists.
Adjusted Plotting:
The plotting of fractal symbols has been adjusted for better alignment and visual clarity.
The offset parameter is set to -n to align the plotted symbols with the correct bars.
The color and size have been fine-tuned for better visibility.
How to Use the Indicator
Adding the Indicator to Your Chart
Open TradingView:
Go to TradingView.
Access the Chart:
Click on "Chart" to open the main charting interface.
Add the Indicator:
Click on the "Indicators" button at the top.
Search for " Fractals".
Select the indicator from the list to add it to your chart.
Configuring the Indicator
Periods (n):
Default value is 2.
Adjust this parameter based on your preferred timeframe and sensitivity.
A higher value of n considers more bars for fractal detection, potentially reducing the number of signals but increasing their significance.
Interpreting the Signals
– Up Fractal (Downward Triangle): Indicates a potential price reversal to the downside. May be used as a signal to consider exiting long positions or tightening stop-loss orders.
– Down Fractal (Upward Triangle): Indicates a potential price reversal to the upside. May be used as a signal to consider entering long positions or setting stop-loss orders for short positions.
Trading Strategy Suggestions
Up Fractal Detection:
The high of the current bar (n) is higher than the highs of the previous two bars (n - 1, n - 2).
The highs of the next bars meet certain conditions to confirm the fractal pattern.
An up fractal symbol (downward triangle) is plotted above the bar at position n - n (due to the offset).
Down Fractal Detection:
The low of the current bar (n) is lower than the lows of the previous two bars (n - 1, n - 2).
The lows of the next bars meet certain conditions to confirm the fractal pattern.
A down fractal symbol (upward triangle) is plotted below the bar at position n - n.
Benefits of Using the Fractals Indicator
Early Signals: Helps in identifying potential reversal points in price movements.
Customizable Sensitivity: Adjusting the n parameter allows you to fine-tune the indicator based on different market conditions.
Enhanced Visuals: Adjustments to plotting improve the clarity and readability of fractal signals on the chart.
Limitations and Considerations
Lagging Indicator: Fractals require future bars to confirm the pattern, which may introduce a delay in the signals.
False Signals: In volatile or ranging markets, fractals may produce false signals. It's advisable to use them in conjunction with other analysis tools.
Not a Standalone Tool: Fractals should be part of a broader trading strategy that includes other indicators and fundamental analysis.
Best Practices for Using This Indicator
Combine with Other Indicators: Use in combination with trend indicators, oscillators, or volume analysis to confirm signals.
Backtesting: Before applying the indicator in live trading, backtest it on historical data to understand its performance.
Adjust Periods Accordingly: Experiment with different values of n to find the optimal setting for the specific asset and timeframe you are trading.
Disclaimer
The Fractals Indicator is intended for educational and informational purposes only. Trading involves significant risk, and you should be aware of the risks involved before proceeding. Past performance is not indicative of future results. Always conduct your own analysis and consult with a professional financial advisor before making any investment decisions.
Credits
This indicator is a fork of the original fractals indicator, with adjustments made to the plotting for improved visual representation. It is based on standard fractal patterns commonly used in technical analysis and has been developed to provide traders with an effective tool for detecting potential reversal points in the market.
Advanced Multi-Timeframe Trend DetectorThis script is designed to provide a multi-timeframe trend analysis, combining moving averages (MAs) and the Relative Strength Index (RSI) to determine market direction across different timeframes. Here's a breakdown of what the script does:
Key Components of the Script
Inputs:
Moving Averages: Short and long moving average lengths (9 and 21 periods).
ATR and RSI Lengths: ATR (Average True Range) and RSI (Relative Strength Index) lengths set to 14 periods.
RSI Levels: Overbought and oversold levels for the RSI set to 70 and 30, respectively.
Trend Determination:
A function called trendDirection evaluates the trend based on the closing prices of the current and previous periods, as well as the RSI value.
It classifies the trend as "Up", "Down", or "Sideways" based on the conditions:
Up: Current close is higher than the previous close and RSI is below the overbought level.
Down: Current close is lower than the previous close and RSI is above the oversold level.
Sideways: If neither condition is met.
Table Creation:
A table is created at the bottom right of the chart to display the trend for different timeframes (5m, 15m, 60m, 240m, and Daily).
The table is initialized with headers and then populated with the trend results for each timeframe.
Calculating Trends for Each Timeframe:
The script fetches the current and previous close prices for each timeframe using request.security().
It calculates the RSI for each timeframe and then calls the trendDirection function to determine the trend.
Displaying Trends:
The results are displayed in a table format, with each timeframe and its corresponding trend.
Summary
Overall, this script provides a concise way to visualize market trends across multiple timeframes, using MAs and RSI to offer a more nuanced view of potential market movements. This can help traders make more informed decisions based on the prevailing trends.
RS+ Majors Allocation | viResearchRS+ Majors Allocation | viResearch
Conceptual Foundation and Innovation
The "RS+ Majors Allocation" script is a comprehensive strategy for managing a crypto portfolio focused on BTC, ETH, and SOL. By dynamically rotating between these major assets, the strategy aims to identify the strongest performer in real-time and allocate capital accordingly. The script incorporates a relative strength (RS) model that leverages price movements and a custom scoring system to rank each asset's performance. This allows the strategy to maintain positions in favorable market conditions while moving to cash during periods of weakness.
The script also includes a trend regime filter to further refine allocations. This filter ensures that an asset's own trend aligns with the market’s trend before committing to an allocation, adding another layer of protection against downturns. The approach is designed to outperform traditional buy-and-hold strategies by minimizing risk exposure during unfavorable market conditions.
Technical Composition and Calculation
The "RS+ Majors Allocation" script combines several technical elements to execute the strategy:
Relative Strength Model: Each asset (BTC, ETH, SOL) is evaluated through a ratio matrix, comparing their performance relative to one another. A scoring system is applied to these ratios to rank the assets, determining which is outperforming. This dynamic evaluation is central to the strategy's decision-making process.
Trend Regime Filter: This filter uses trend indicators to assess whether the market and individual assets are in a favorable state. If an asset’s trend score does not meet the criteria, it won't be allocated capital, thus avoiding exposure to potential downturns.
Equity Tracking and Allocation: The script tracks the portfolio's equity performance over time, plotting it against a traditional buy-and-hold strategy for comparison. Allocation decisions are based on the scores of BTC, ETH, and SOL, with the system selecting the top-performing asset and moving to cash if no asset meets the criteria.
Performance Metrics: To evaluate the effectiveness of the strategy, the script calculates several key performance indicators:
Sharpe Ratio: Measures risk-adjusted returns.
Sortino Ratio: Focuses on downside risk by considering only negative fluctuations.
Omega Ratio: Analyzes returns relative to risk.
Maximum Drawdown: Shows the largest peak-to-trough decline, indicating potential loss exposure.
Features and User Inputs
The script offers a range of customizable parameters to tailor the strategy to individual preferences and market conditions:
Asset Selection: Users can choose the specific assets to include in the rotation, with the script currently focusing on BTC, ETH, and SOL. The trend regime filter is optional, allowing for a more aggressive or conservative approach.
Equity Visualization: The script provides real-time equity tracking, comparing the portfolio's performance with individual assets. Users can adjust visualization settings to focus on specific assets or the overall strategy.
Starting Date: The backtesting period can be set to begin at a specific date, helping to analyze the strategy’s performance over different timeframes.
Bar Colors and Alerts: Visual cues, including colored bars, indicate the active trend direction of the selected asset. Additionally, alerts notify traders when the system rotates between assets or moves to cash.
Practical Applications
The "RS+ Majors Allocation" script is designed for traders who want to manage a crypto portfolio with a focus on risk-adjusted returns. It is particularly effective in several scenarios:
Asset Rotation: The dynamic scoring system allows the script to rotate between BTC, ETH, and SOL based on relative strength, capitalizing on the strongest performer at any given time.
Downside Protection: The trend regime filter helps avoid exposure during market-wide downturns by staying in cash, minimizing drawdowns during periods of high volatility.
Active Portfolio Management: By using real-time data to make allocation decisions, the script offers a more hands-on approach to portfolio management compared to passive holding strategies.
Advantages and Strategic Value
This script brings a structured and disciplined approach to portfolio management, combining trend analysis, relative strength, and performance metrics to optimize returns. The use of a scoring system for asset rotation, along with the trend filter, makes it versatile and adaptable to different market environments. The script aims to outperform traditional buy-and-hold strategies by focusing on the strongest assets while reducing risk during unfavorable conditions.
The visual and performance feedback provided by the script allows traders to gain deeper insights into their portfolio’s behavior, helping to make data-driven decisions.
Summary and Usage Tips
The "RS+ Majors Allocation" script is a powerful tool for managing a crypto portfolio with a focus on performance optimization and risk management. By incorporating this strategy, traders can dynamically allocate capital to the top-performing assets while protecting their portfolio from significant downturns. Adjust the trend regime filter, threshold settings, and asset choices to fit your market outlook and trading goals. The script's equity tracking and performance metrics will provide clear insights into how well the strategy is performing compared to a traditional buy-and-hold approach.
Remember to use backtesting to assess the script's effectiveness over different timeframes and market conditions. Keep in mind that past performance does not guarantee future results, so consider using this strategy in conjunction with other analysis tools for a comprehensive approach to trading.
Trend indicatorThe Trend Indicator script is a custom oscillator-based tool designed for identifying potential entry and exit points in the market. Using a combination of Exponential Moving Average (EMA) and Relative Moving Average (RMA) calculations, it captures the trend direction and signals market momentum shifts. The indicator visually presents buy and sell signals and color-codes background conditions based on potential trend reversals, offering a clear and structured approach for trend-based trading strategies.
Key Components
1. User Inputs
Smoothing Length (smoothLength): The script allows the trader to input a smoothing length for adjusting the EMA and RMA calculations. This parameter fine-tunes the indicator's sensitivity to price movements, where lower values result in a more responsive oscillator, while higher values make it smoother and less reactive to minor fluctuations.
Source (source): This is the price data input for the script, defaulting to the close price but customizable to other price points (e.g., open, high, or low) based on user preference.
2. Smoothed Price Calculation
Using an Exponential Moving Average (EMA), the script smooths the selected source price to reduce noise and make trends clearer. The EMA’s calculation length is determined by the smoothLength input, and this moving average forms the baseline from which other components derive.
3. Oscillator Calculation
The oscillator value represents the relative strength or weakness of price momentum. Here, the oscillator is computed using Relative Moving Average (RMA), applied to the difference between the smoothed price and the SMA of the source price. The RMA further filters short-term fluctuations to identify the core trend direction.
This oscillator measures the divergence between the smoothed price and the SMA, providing insight into whether the market is experiencing bullish or bearish pressure.
4. Signal Line
The Signal Line is a Simple Moving Average (SMA) of the oscillator, using the same smoothLength parameter. The SMA smooths the oscillator’s values, offering a secondary reference that traders can use to identify changes in momentum when it crosses the oscillator line.
5. Buy and Sell Signals
Buy Signal (bullSignal): The script triggers a buy signal when the oscillator crosses above zero. This indicates that momentum may be shifting in favor of buyers, potentially signaling an uptrend.
Sell Signal (bearSignal): The script triggers a sell signal when the oscillator crosses below zero, suggesting a shift in momentum to the downside, potentially initiating a downtrend.
Visualization
1. Plotting the Oscillator and Signal Line
The oscillator line is plotted in blue, representing the current momentum of the price. The signal line, plotted in red, serves as a smoother baseline.
When the oscillator crosses the signal line, it hints at a potential trend shift, which can be a signal for cautious traders to pay attention to trend reversals.
2. Buy/Sell Signal Markers
Buy Signal Marker: A green label appears below the bar whenever the oscillator crosses above zero, indicating a potential buying opportunity.
Sell Signal Marker: A red label appears above the bar whenever the oscillator crosses below zero, marking a potential selling opportunity.
These visual cues make it easy for traders to spot signals directly on the chart without needing to watch the oscillator values closely.
3. Background Coloring for Trend Direction
To further aid in trend identification, the background color changes to green when a bullish signal is active and red during bearish signals. This coloring helps visually reinforce the current trend direction, allowing traders to spot prolonged uptrends or downtrends easily.
Trading Strategy Suggestions
This indicator can be adapted to various trading strategies. Here are a few practical suggestions:
Trend-Following Strategy:
When the oscillator crosses above zero (green background), it could indicate the start of a potential uptrend. Consider entering a long position on this signal and holding it until the oscillator crosses back below zero.
Conversely, a cross below zero (red background) may signal a downtrend, making it suitable for short positions or exiting long trades.
Cross-Confirmation with Signal Line:
Use the crossover of the oscillator and signal line to confirm trends. For example, when the oscillator is above zero and crosses above the signal line, it could reinforce a strong buy signal. Similarly, a cross below the signal line when the oscillator is below zero could strengthen a sell signal.
Combining with Other Indicators:
For added accuracy, combine this indicator with other trend-confirming tools like Moving Averages or Bollinger Bands to confirm the validity of buy/sell signals.
Risk Management:
Always set stop-losses below recent lows in uptrends or above recent highs in downtrends. This indicator is useful for entry and exit points but should always be paired with solid risk management practices.
The Trend Indicator is a comprehensive tool for identifying market momentum and potential reversal points. By smoothing out price data and using an oscillator to track momentum shifts, it offers traders a structured approach to trading trends. Its built-in buy/sell markers and background coloring make it visually accessible and easy to interpret at a glance. However, as with any indicator, it's most effective when combined with other strategies and a disciplined approach to risk management.
Supertrend with EMASupertrend + EMA Indicator
This custom indicator combines the popular Supertrend and Exponential Moving Average (EMA) indicators to enhance trend analysis and signal accuracy. The Supertrend tracks price volatility to identify potential trend directions, while the EMA provides a smooth moving average to help refine entries and exits based on trend momentum.
Features:
Supertrend: Detects trend reversals by using price action and volatility, making it effective in trending markets.
Exponential Moving Average (EMA): Smoothens price fluctuations, helping you gauge the trend’s strength and filter out false signals.
Versatile for multiple timeframes and asset classes.
Ideal for traders looking to catch sustained trends and avoid false breakouts, this indicator offers an improved way to follow market momentum and confirm trend strength. Customize the Supertrend ATR multiplier and EMA length to suit your trading style and timeframe.
INDIA/NIFTY DOWN DAY MARKERINDIA/NIFTY DOWN DAY MARKER is indicator designed for Indian investors that provides visual cues on whole universe of stock charts marking volatile days based on the performance of selected Indian market indices. This indicator helps traders and investors assess the relative strength of individual stocks during extreme market movements
Key Features:
1) Index Selection: Users can choose from four major Indian indices: Nifty 50, Nifty Midcap 100, Nifty Smallcap 100, and Nifty MIDSMALLCAP 400. This flexibility allows for tailored analysis based on market focus.
2) Customizable Thresholds: Users can set their desired percentage thresholds for both rise and fall days, with default values of 2%. This customization enables users to adapt the indicator to their trading strategies.
3) Visual Indicators:
Rise Days: When the selected index rises by the specified percentage, the chart background turns green, indicating a bullish trend.
Fall Days: Conversely, if the index falls by the defined percentage, the background changes to red, signaling a bearish trend.
CSP Key Level Finder This script is designed for option sellers, particularly those using strategies like cash-secured puts (CSPs), to help automate the process of identifying key levels in the market. The core functionality is to calculate a specific price level where a 5% return can be achieved based on the historical volatility of the underlying asset. This level is visually plotted on a chart to guide traders in making more informed decisions without manually calculating the thresholds themselves.
The script incorporates implied volatility (IV) data to determine the volatility rank of the asset and calculates historical volatility (HV) based on price movements. These volatility measures help assess market conditions. The resulting key level is drawn as a line on the chart, along with a label that includes relevant information about volatility, making it easier for traders to evaluate potential option selling strategies.
Additionally, the script includes user input options, allowing users to control when to display the key level on the chart, offering flexibility based on individual needs. Overall, the script provides a visual aid for option sellers to streamline the process of identifying attractive entry points.
Fibonacci Buy /Sell SignalsHere is a Fibonacci-based Buy/Sell Indicator using retracement levels for potential support and resistance zones. This indicator plots Fibonacci levels and provides buy/sell signals based on price interaction with these levels.
Fibonacci Levels:
Highest high and lowest low over the lookback period.
Key levels: 38.2% (retracement), 50% (midpoint), 61.8% (strong retracement).
Buy Signal: When the price crosses above the 61.8% Fibonacci level (bullish).
Sell Signal: When the price crosses below the 38.2% Fibonacci level (bearish).
Enhanced CCI with Trend FiltersThis indicator combines the power of the Commodity Channel Index (CCI) with adaptive trend filters and divergence detection to identify high-probability trading opportunities. It's designed to reduce false signals by incorporating trend direction and divergence confirmation.
🔍 How It Works:
1. Trend Detection:
- Uses an adaptive Simple Moving Average (SMA) that automatically adjusts between daily and weekly timeframes
- Daily mode: Default 200 SMA for longer-term trend
- Weekly mode: Default 40 SMA for broader market perspective
- Trend direction is determined by comparing current SMA value to its previous value
2. CCI Component:
- Traditional CCI calculation with customizable length (default: 20)
- Adjustable overbought (default: +100) and oversold (default: -100) levels
- Color-coded CCI line for quick visual reference:
* Green: Overbought and rising
* Red: Oversold and falling
* Gray: Neutral zone
3. Signal Generation:
- Buy Signal (Green Background):
* CCI crosses above oversold level AND
* Main trend is confirmed bullish (rising SMA)
- Sell Signal (Red Background):
* CCI crosses below overbought level AND
* Main trend is confirmed bearish (falling SMA)
4. Divergence Detection:
- Automatically identifies bullish and bearish divergences
- Bullish Divergence: Price makes lower low while CCI makes higher low
- Bearish Divergence: Price makes higher high while CCI makes lower high
- Visualized with distinct markers on the CCI line
- Can be used to set up alerts for divergence confirmations
⚙️ Customization Options:
- CCI calculation length and price source
- Overbought/Oversold levels
- SMA lengths for daily and weekly modes
- Divergence lookback period
- Signal colors and visualization settings
🔔 Alert Capabilities:
- Set alerts for CCI crossovers of overbought/oversold levels
- Create divergence detection alerts
- Configure trend change notifications
- Combine multiple conditions for complex alert strategies
💡 Trading Tips:
- Combine divergence signals with trend direction for better accuracy
- Wait for signal confirmation before entering trades
- Use additional indicators or price action for exit decisions
This indicator helps traders identify potential trend reversals while keeping them aligned with the main market trend. Perfect for both trend following and counter-trend strategies when used appropriately.
Tags: CCI, trend following, divergence, momentum, signals, SMA, multi-timeframe, technical analysis, trend filter, oversold, overbought
Note: Past performance does not guarantee future results. Always combine with proper risk management.
Price Action StrategyThe **Price Action Strategy** is a tool designed to capture potential market reversals by utilizing classic reversal candlestick patterns such as Hammer, Shooting Star, Doji, and Pin Bar near dinamic support and resistance levels.
***Note to moderators
- The moving average was removed from the strategy because it was not suitable for the strategy and not participating in the entry or exit criteria.
- The moving average length has been replaced/renamed by the support/resistance lenght.
- The bullish engulfing and bearish engulfing patterns were also removed because in practice they were not working as entry criteria, since the candle price invariably closes far from the support/resistance level even considering the sensitivity range. There was no change in the backtest results after removing these patterns.
### Key Elements of the Strategy
1. Support and Resistance Levels
- Support and resistance are pivotal price levels where the asset has previously struggled to move lower (support) or higher (resistance). These levels act as psychological barriers where buying interest (at support) or selling interest (at resistance) often increases, potentially causing price reversals.
- In this strategy, support is calculated as the lowest low and resistance as the highest high over a 16-period length. When the price nears these levels, it indicates possible zones for a reversal, and the strategy looks for specific candlestick patterns to confirm an entry.
2. Candlestick Patterns
- This strategy uses classic reversal patterns, including:
- **Hammer**: Indicates a buy signal, suggesting rejection of lower prices.
- **Shooting Star**: Suggests a sell signal, showing rejection of higher prices.
- **Doji**: Reflects indecision and potential reversal.
- **Pin Bar**: Represents price rejection with a long shadow, often signaling a reversal.
By combining these reversal patterns with the proximity to dinamic support or resistance levels, the strategy aims to capture potential reversal movements.
3. Sensitivity Level
- The sensitivity parameter adjusts the acceptable range (Default 0.018 = 1.8%) around support and resistance levels within which reversal patterns can trigger trades (i.e. the closing price of the candle must occur within the specified range defined by the sensitivity parameter). A higher sensitivity value expands this range, potentially leading to less accurate signals, as it may allow for more false positives.
4. Entry Criteria
- **Buy (Long)**: A Hammer, Doji, or Pin Bar pattern near support.
- **Sell (Short)**: A Shooting Star, Doji, or Pin Bar near resistance.
5. Exit criteria
- Take profit = 9.5%
- Stop loss = 16%
6. No Repainting
- The Price Action Strategy is not subject to repainting.
7. Position Sizing by Equity and risk management
- This strategy has a default configuration to operate with 35% of the equity. The stop loss is set to 16% from the entry price. This way, the strategy is putting at risk about 16% of 35% of equity, that is, around 5.6% of equity for each trade. The percentage of equity and stop loss can be adjusted by the user according to their risk management.
8. Backtest results
- This strategy was subjected to deep backtest and operations in replay mode on **1000000MOGUSDT.P**, with the inclusion of transaction fees at 0.12% and slipagge of 5 ticks, and the past results have shown consistent profitability. Past results are no guarantee of future results. The strategy's backtest results may even be due to overfitting with past data.
9. Chart Visualization
- Support and resistance levels are displayed as green (support) and red (resistance) lines.
- Only the candlestick pattern that generated the entry signal to triger the trade is identified and labeled on the chart. During the operation, the occurrence of new Doji, Pin Bar, Hammer and Shooting Star patterns will not be demonstrated on the chart, since the exit criteria are based on percentage take profit and stop loss.
Doji:
Pin Bar and Doji
Shooting Star and Doji
Hammer
10. Default settings
Chart timeframe: 20 min
Moving average lenght: 16
Sensitivity: 0.018
Stop loss (%): 16
Take Profit (%): 9.5
BYBIT:1000000MOGUSDT.P
Supertrend StrategyThe Supertrend Strategy was created based on the Supertrend and Relative Strength Index (RSI) indicators, widely respected tools in technical analysis. This strategy combines these two indicators to capture market trends with precision and reliability, looking for optimizing exit levels at oversold or overbought price levels.
The Supertrend indicator identifies trend direction based on price and volatility by using the Average True Range (ATR). The ATR measures market volatility by calculating the average range between an asset’s high and low prices over a set period. It provides insight into price fluctuations, with higher ATR values indicating increased volatility and lower values suggesting stability. The Supertrend Indicator plots a line above or below the price, signaling potential buy or sell opportunities: when the price closes above the Supertrend line, an uptrend is indicated, while a close below the line suggests a downtrend. This line shifts as price movements and volatility levels change, acting as both a trailing stop loss and trend confirmation.
To enhance the Supertrend strategy, the Relative Strength Index (RSI) has been added as an exit criterion. As a momentum oscillator, the RSI indicates overbought (usually above 70) or oversold (usually below 30) conditions. This integration allows trades to close when the asset is overbought or oversold, capturing gains before a possible reversal, even if the percentage take profit level has not been reached. This mechanism aims to prevent losses due to market reversals before the Supertrend signal changes.
### Key Features
1. **Entry criteria**:
- The strategy uses the Supertrend indicator calculated by adding or subtracting a multiple of the ATR from the closing price, depending on the trend direction.
- When the price crosses above the Supertrend line, the strategy signals a long (buy) entry. Conversely, when the price crosses below, it signals a short (sell) entry.
- The strategy performs a reversal if there is an open position and a change in the direction of the supertrend occurs
2. **Exit criteria**:
- Take profit of 30% (default) on the average position price.
- Oversold (≤ 5) or overbought (≥ 95) RSI
- Reversal when there is a change in direction of the Supertrend
3. **No Repainting**:
- This strategy is not subject to repainting, as long as the timeframe configured on your chart is the same as the supertrend timeframe .
4. **Position Sizing by Equity and risk management**:
- This strategy has a default configuration to operate with 35% of the equity. At the time of opening the position, the supertrend line is typically positioned at about 12 to 16% of the entry price. This way, the strategy is putting at risk about 16% of 35% of equity, that is, around 5.6% of equity for each trade. The percentage of equity can be adjusted by the user according to their risk management.
5. **Backtest results**:
- This strategy was subjected to deep backtesting and operations in replay mode, including transaction fees of 0.12%, and slippage of 5 ticks.
- The past results in deep backtest and replay mode were compatible and profitable (Variable results depending on the take profit used, supertrend and RSI parameters). However, it should be noted that few operations were evaluated, since the currency in question has been created for a short time and the frequency of operations is relatively small.
- Past results are no guarantee of future results. The strategy's backtest results may even be due to overfitting with past data.
Default Settings
Chart timeframe: 2h
Supertrend Factor: 3.42
ATR period: 14
Supertrend timeframe: 2 h
RSI timeframe: 15 min
RSI Lenght: 5 min
RSI Upper limit: 95
RSI Lower Limit: 5
Take Profit: 30%
BYBIT:1000000MOGUSDT.P
SMA Fibonacci Rainbow Waves[FibonacciFlux]SMA Fibonacci Rainbow Waves
Overview
The SMA Fibonacci Rainbow Waves script is designed for traders who seek to blend simplicity with complexity in their trading strategies. By leveraging multiple Simple Moving Averages (SMAs) weighted by Fibonacci numbers, this indicator provides a nuanced view of price action, allowing traders to capture essential market dynamics while filtering out unnecessary noise.
Key Features
1. Multiple Simple Moving Averages (SMA)
- The indicator employs a series of SMAs to represent both short-term and long-term trends, providing a comprehensive view of market sentiment.
- Each SMA helps identify critical price levels that serve as support and resistance, particularly the purple Fibonacci SMA, which can be pivotal for limit entries. Traders positioned at this level can initiate stop-loss hunts at the institutional level, potentially achieving risk-reward ratios exceeding 30.
2. Fibonacci Weighting
- By applying Fibonacci principles to the SMAs, the indicator enhances adaptability to market conditions.
- This unique approach allows traders to pinpoint significant support and resistance levels within Fibonacci layers, enabling them to anticipate market movements effectively.
3. Dynamic Support and Resistance Levels
- The SMA Fibonacci Rainbow Waves indicator identifies key price levels that act as support and resistance based on Fibonacci layers.
- For instance, on the hourly chart, these levels function as reliable zones for traders to watch for potential reversals, while on the 15-minute chart, a consolidation within the rainbow pocket followed by expansion can signal lucrative trading opportunities.
4. Visual Clarity with Color Coding
- Each SMA is assigned a distinct color, making it easy to differentiate between the various levels on the chart.
- Fills between SMAs visually represent zones of confluence, enhancing the analysis of potential trading opportunities.
Signal Generation and Alerts
- The indicator generates buy and sell signals based on the interactions of the SMAs, providing clear entry and exit points.
- Customizable alerts notify traders of significant market changes, allowing for timely reactions to evolving conditions.
Benefits
1. Simplified Trading Approach
- Traders can focus on significant market trends without distraction, enhancing decision-making efficiency and reducing emotional trading.
2. Flexibility Across Timeframes
- The indicator operates effectively across multiple timeframes, allowing traders to apply its principles in various scenarios, from scalping to longer-term strategies.
3. Enhanced Market Insights
- The combination of multiple SMAs and Fibonacci weighting offers a comprehensive view of market trends, helping traders identify lucrative opportunities that may be overlooked.
4. Bridging Simplicity and Complexity
- This indicator elegantly addresses the contradictions in trading psychology, allowing traders to maintain clarity while navigating complex market dynamics.
Conclusion
The SMA Fibonacci Rainbow Waves script is an essential tool for traders seeking to streamline their analysis while effectively capturing market movements. By integrating Fibonacci principles with multiple SMAs, this indicator empowers traders to follow trends confidently. Its design makes it invaluable for both novice and experienced traders, revealing entry points often missed by traditional indicators.
Open Source Collaboration
This script is available as an open-source project on TradingView, inviting contributions from the global trading community to enhance its functionality. Collaboration ensures it remains a valuable resource for market participants.
Important Note
As with any trading tool, thorough analysis and risk management are crucial when using this indicator. Past performance does not guarantee future results, and traders should always prepare for potential market fluctuations.
TechniTrend: Trend and Volume Indicator🟪 Overview
The "TechniTrend: Trend and Volume Indicator" is designed to assist traders in identifying optimal entry and exit points in the market by combining trend detection and volume analysis. This indicator integrates moving average-based trend recognition with volume threshold analysis to provide clear buy and sell signals. Additionally, it includes divergence filtering and correlation analysis to enhance the accuracy of signals, making it suitable for traders who want to identify strong trends and high-probability trading opportunities.
🟪 Indicator Components
🔹Trend Moving Average (MA):
The indicator calculates a moving average based on the closing prices to identify the overall trend. Various moving average types are available for customization:
Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Weighted Moving Average (WMA)
Hull Moving Average (HMA)
The length of the moving average can be adjusted via the Trend MA Length input to adapt to different market conditions.
🔹Volume Analysis:
A volume moving average is calculated over a specified period (Volume MA Length), with a volume threshold derived by multiplying this average by a user-defined Volume Threshold Factor.
This threshold helps to classify volume as either high or low, which plays a crucial role in signal generation.
🔹Divergence Detection:
The indicator can filter out signals when there is a divergence between the price movement and volume changes. Divergence occurs when the price moves in one direction while the volume moves in the opposite direction, indicating a potential weakening of the trend.
🔹Correlation Analysis:
The correlation between price and volume changes is calculated over the same length as the trend moving average. The user can enable this filter to ensure that buy or sell signals are only generated when the correlation exceeds a specified threshold (Correlation Threshold).
🟪 Signals and Alerts
🔹Buy Signal: Generated when the price is above the trend moving average (indicating an uptrend), and the current volume exceeds the volume threshold (indicating high volume). The signal can be filtered based on divergence or correlation settings.
🔹Sell Signal: Triggered when the price is below the trend moving average (indicating a downtrend), and the volume is above the threshold. Similarly, the signal is affected by divergence and correlation filters.
🔹Visual Indicators:
The trend line is plotted on the chart for easy trend identification.
Buy and sell signals are displayed using green and red labels, respectively.
Background highlighting is used to mark areas of high volume on the chart.
🟪 Customizable Inputs
🔹Trend MA Length: Adjusts the moving average length used to detect trends.
🔹Volume MA Length: Sets the length for the volume moving average calculation.
🔹MA Type for Trend: Select the type of moving average for trend detection (SMA, EMA, WMA, HMA).
🔹Volume Threshold Factor: Multiplier used to define high-volume conditions based on the volume moving average.
🔹Enable Divergence Filter: Allows the user to filter out signals where divergence between price and volume is detected.
🔹Enable Correlation Filter: Enables filtering of signals based on the correlation between price and volume changes.
🔹Correlation Threshold: Sets the minimum correlation value required for a signal to be considered valid.
🟪 Alerts
The indicator provides alert conditions for buy and sell signals, allowing traders to receive notifications when new trading opportunities arise.
🟪 Usage Tips
🔹Adjust Moving Average Lengths: Shorter lengths can make the indicator more sensitive to recent market changes, while longer lengths provide a smoother, more reliable trend signal.
🔹Volume Threshold Factor: Increasing this factor raises the volume required to generate high-volume signals, which can help filter.
🟪 Disclaimer:
The "TechniTrend: Trend and Volume Indicator" is a technical analysis tool intended for educational and informational purposes only. It is not a guarantee of future performance or a recommendation to buy, sell, or hold any financial instrument. Trading involves significant risk, and past performance is not indicative of future results. Users should conduct their own research and seek advice from a qualified financial professional before making any investment decisions. The creators of this indicator are not liable for any financial losses or damages incurred through its use.
HMA Fibonacci Rainbow Waves[FibonacciFlux]HMA Fibonacci Rainbow Waves
Overview
The HMA Fibonacci Rainbow Waves script is designed for traders who strive for simplicity in their trading strategies while navigating the complexities of chart analysis. By utilizing the Hull Moving Average (HMA) for smoothing, this indicator provides a refined view of price action. However, over-smoothing can sometimes filter out essential market noise. To address this, the indicator incorporates a unique approach by applying Fibonacci weighting to seven HMA200 calculations. This enables traders to capture noise while effectively following market trends.
BTCUSDT 4hour
Key Features
1. Hull Moving Average (HMA)
- The HMA is known for its responsiveness and ability to filter out noise, providing a clear view of the underlying trend.
- The indicator balances smoothness with responsiveness, making it suitable for various trading styles, from day trading to swing trading and scalping.
2. Fibonacci Weighting
- By applying Fibonacci numbers to the HMA calculations, the indicator enhances its ability to adapt to market dynamics.
- This unique approach allows traders to maintain clarity while accommodating fluctuations in price action, ensuring they do not miss critical entry points.
3. Multi-Timeframe Functionality
- The HMA Fibonacci Rainbow Waves indicator operates effectively across multiple timeframes, including daily, 4-hour, 5-minute, and 1-minute charts.
- This adaptability makes it a valuable tool for traders, regardless of their preferred trading style, facilitating seamless transitions between different market conditions.
4. Noise Capture and Trend Following
- The indicator is designed to capture essential market movements while filtering out excessive noise.
- It helps traders follow trends without being overwhelmed by market fluctuations, allowing them to act on advantageous entry conditions that might otherwise be obscured.
Signal Generation and Alerts
- The indicator generates buy and sell signals based on the relationship between the HMAs, providing clear entry and exit points.
- Customizable alerts keep traders informed of significant changes in market conditions, enabling timely decisions that reflect the nuances of market behavior.
BTCUSDT 15min
Benefits
1. Simplified Trading Approach
- Traders can focus on core market movements without being distracted by excessive noise, enhancing decision-making efficiency and minimizing emotional trading.
2. Flexibility Across Timeframes
- The ability to function across different timeframes allows traders to apply the same principles in various trading scenarios, from quick scalps to strategic swing trades.
3. Enhanced Market Insights
- The combination of HMA smoothing and Fibonacci weighting offers a comprehensive view of market trends, aiding traders in identifying potential opportunities, including those that institutional investors might exploit.
4. Resolving Complexity with Simplicity
- This indicator elegantly bridges the gap between simplicity and complexity, providing a single tool that addresses the inherent contradictions in trading psychology. It allows traders to simplify their strategies while still capturing the dynamic nature of the market.
BTCUSDT 1min
Conclusion
The HMA Fibonacci Rainbow Waves script is a powerful tool for traders seeking to streamline their analysis while effectively capturing market dynamics. By integrating advanced smoothing techniques with Fibonacci weighting, this indicator empowers traders to follow market trends confidently across various timeframes. Its design makes it an essential asset for both novice and experienced traders alike, offering insights that can reveal entry points often missed by traditional indicators.
Open Source Collaboration
This script is released as an open-source project on TradingView, inviting the global trading community to contribute and enhance its functionality. By collaborating on this project, traders can help improve its capabilities, ensuring it remains a valuable resource for market participants around the world.
Important Note
As with any trading tool, it is crucial to conduct thorough analysis and risk management when using this indicator. Past performance does not guarantee future results, and traders should always be prepared for potential market fluctuations.
Dynamic Score SMA [QuantAlgo]Dynamic Score SMA 📈🌊
The Dynamic Score SMA by QuantAlgo offers a powerful trend-following approach that combines the simplicity of the Simple Moving Average (SMA) with an innovative dynamic trend scoring technique . By continuously evaluating price movement relative to the SMA over a customizable window, this indicator adapts to varying market conditions, providing traders and investors with clearer, more adaptable trend signals. With this dynamic scoring approach, the Dynamic Score SMA helps identify trend shifts, allowing for more strategic decision-making.
🌟 Conceptual Foundation and Innovation
At the core of the Dynamic Score SMA is its dynamic trend score system , which assesses price movements by comparing them to the SMA over a series of historical data points. This technique goes beyond traditional SMA indicators by offering a dynamic, probabilistic evaluation of trend strength, delivering a more responsive and nuanced view of market direction. The integration of this scoring system enables traders and investors to navigate both trending and sideway markets with greater confidence and precision.
⚙️ Technical Composition and Calculation
The Dynamic Score SMA leverages the Simple Moving Average to establish a baseline trend, with customizable SMA length to control the indicator’s sensitivity. The dynamic trend scoring technique then evaluates price behavior relative to the SMA over a specified window, generating a trend score that reflects the current market bias.
When the score crosses the designated uptrend or downtrend thresholds, the indicator signals a potential trend shift. By adjusting the SMA length, window duration, and thresholds, users can refine the indicator’s responsiveness to match their preferred trading or investing strategy, making it suitable for both volatile and steady markets.
📈 Features and Practical Applications
Customizable SMA Length: Set the length of the SMA to control how sensitive the trend is to price changes. Longer lengths produce smoother trends, while shorter lengths increase responsiveness.
Window Length for Dynamic Scoring: Adjust the window length to determine how many data points are considered in the dynamic trend score calculation, allowing for more tailored analysis of recent versus long-term trends.
Uptrend/Downtrend Thresholds: Define thresholds for triggering trend signals. Higher thresholds reduce sensitivity, providing clearer signals in volatile markets, while lower thresholds capture shorter-term movements.
Bar and Background Coloring: Visual cues, including bar coloring and background fills, provide a quick reference for current trend direction, making it easier to monitor market conditions.
Trend Confirmation: The dynamic trend scoring system verifies trend strength, offering more reliable entry and exit points by filtering out potential false signals.
⚡️ How to Use
✅ Add the Indicator: Add the Dynamic Score SMA to your favourites, then apply it to your chart. Customize the SMA length, window size, and thresholds to match your trading or investing preferences.
👀 Monitor Trend Shifts: Observe the trend in relation to the SMA and watch for signals when the score crosses key thresholds. Bar and/or background coloring will help identify the current trend direction and any shifts in momentum.
🔔 Set Alerts: Configure alerts for significant trend crossovers and reversals, enabling you to act on market changes in real-time without needing constant chart observation.
💫 Summary and Usage Tips
The Dynamic Score SMA by QuantAlgo is a sophisticated trend-following indicator that combines the familiarity of the SMA with a dynamic trend scoring system, providing a more adaptable and probabilistic approach to trend analysis. By tailoring the SMA length, scoring window, and thresholds, traders and investors can fine-tune the indicator for both short-term adjustments and long-term trend following. For optimal use, adjust sensitivity based on market volatility, and rely on the visual cues for clear trend confirmation. Whether you’re navigating choppy markets or stable trends, the Dynamic Score SMA offers a refined approach to capturing market direction with enhanced precision.
Parabolic (Brachistochrone) Curve IndicatorOverview of the Script
The script is designed to plot an approximation of the Brachistochrone curve between two points on a TradingView chart. The Brachistochrone curve represents the path of fastest descent under gravity between two points not aligned vertically. In physics, this curve is a segment of a cycloid.
Understanding the Brachistochrone Curve
Definition: The Brachistochrone curve is the curve along which a particle will descend from one point to another in the least time under gravity, without friction.
Mathematical Representation: The solution to the Brachistochrone problem is a cycloid, which is the curve traced by a point on the rim of a circular wheel as it rolls along a straight line.
Relevance to Trading: While the Brachistochrone curve originates from physics, plotting it on a price-time chart can offer a unique visual representation of the fastest possible movement between two price levels.
How the Script Works
Inputs
Start and End Bars:
startBar: The number of bars back from the current bar to define the starting point.
endBar: The number of bars back from the current bar to define the ending point.
Curve Customization:
numPoints: The number of points used to plot the curve (affects smoothness).
curveColor: The color of the curve.
curveWidth: The width of the curve lines.
Labels:
showTimeLabels: A toggle to display labels along the curve for reference.
Calculations
Determine Start and End Points:
The script calculates the coordinates (x_start, y_start, x_end, y_end) of the start and end points based on the specified bar offsets.
x_start and x_end correspond to bar indices (time).
y_start and y_end correspond to price levels.
Calculate Differences and Parameters:
Horizontal and Vertical Differences:
delta_x = x_end - x_start
delta_y = y_end - y_start
Ensure Descending Motion:
If the end point is higher than the start point (i.e., delta_y is positive), the script swaps the start and end points to ensure the curve represents a descent.
Cycloid Parameters:
Angle (theta): Calculated using theta = atan(delta_y / delta_x), representing the inclination of the curve.
Radius (R): The radius of the generating circle for the cycloid, calculated with R = delta_x / (π * cos(theta)).
Generate Points Along the Cycloid:
Parameter t: Varies from 0 to t_end, where t_end is set to π to represent half a cycloid (a common segment for the Brachistochrone).
Cycloid Equations:
Horizontal Component (x_t): x_t = R * (t - sin(t))
Vertical Component (y_t): y_t = R * (1 - cos(t))
Adjust Coordinates:
The script adjusts the cycloid coordinates to align with the chart's axes:
x_plot = x_start + x_t * cos(theta)
y_plot = y_start + y_t * sin(theta)
The x_plot values are converted to integer bar indices to match the chart's x-axis.
Plotting the Curve
Drawing Lines:
The script connects consecutive points using lines to form the curve.
It uses the line.new function, specifying the start and end coordinates of each line segment.
Adding Labels (Optional):
If showTimeLabels is enabled, the script places labels at intervals along the curve to indicate progress or parameter values.
Adjustments for Accurate Visualization
Handling Ascending Paths:
To adhere to the physical definition of the Brachistochrone curve, the script ensures that the ending point is below the starting point in terms of price.
If not, it swaps the points to represent a descending path.
Parameter Constraints:
The script ensures that calculations involving trigonometric functions remain within valid ranges to prevent mathematical errors (e.g., division by zero or invalid arguments for acos).
Scaling Considerations:
Adjustments are made to account for the differences in scaling between time (x-axis) and price (y-axis) on the chart.
The script maps spatial coordinates to the chart's axes appropriately.
Limitations and Considerations
Theoretical Nature:
The Brachistochrone curve is a theoretical concept from physics and doesn't necessarily predict actual price movements in financial markets.
Chart Scaling:
The visual appearance of the curve may be affected by the chart's scaling settings. Users may need to adjust the chart's zoom or scale to view the curve properly.
Data Range:
The start and end bars must be within the range of available data on the chart. If the specified bars are out of range, the script may not plot the curve.
Computational Limits:
TradingView imposes limits on the number of drawing objects (lines, labels) that can be displayed. The script accounts for this, but extremely high numPoints values may lead to performance issues.
Usage Instructions
Adding the Indicator:
The script is added to the chart as a custom indicator in TradingView's Pine Script Editor.
Configuring Inputs:
Start and End Bars: Users specify the bar offsets for the start and end points. It's important that the end point is below the start point in price to represent a descent.
Curve Customization: Users can adjust the number of points for smoothness and customize the curve's color and width.
Labels: Users can choose to display or hide labels along the curve.
Observing the Curve:
After configuring the inputs, the curve will be plotted between the two specified points.
Users can observe the curve to understand the theoretical fastest descent between the two price levels.
Potential Applications
Educational Tool:
The script serves as a visual aid to understand the properties of the Brachistochrone curve and cycloid.
Analytical Insights:
While not predictive, the curve might inspire new ways of thinking about price movements, momentum, or acceleration in markets.
Visualization:
It provides a unique way to visualize the relationship between time and price over a specific interval.
Conclusion
The script effectively adapts the mathematical concept of the Brachistochrone curve to a financial chart by carefully mapping spatial coordinates to time and price axes. By accounting for the unique characteristics of TradingView charts and implementing necessary mathematical adjustments, the script plots the curve between two user-defined points, offering a novel and educational visualization.
ICT Comprehensive IndicatorThe ICT Comprehensive Indicator is a robust tool designed to assist traders in applying key concepts from the Inner Circle Trader (ICT) methodology directly to their TradingView charts. This indicator integrates multiple ICT principles to provide a holistic view of the market, aiming to enhance trading analysis and decision-making.
Key Features:
Market Structure Analysis:
Swing Highs and Lows:
Automatically identifies and marks significant swing highs and lows.
Plots dotted lines at these levels to help visualize market structure and trend direction.
Red Lines: Indicate swing highs (potential resistance levels).
Green Lines: Indicate swing lows (potential support levels).
Liquidity Pools:
Highlights potential liquidity zones where stop orders may accumulate.
Marks previous swing highs and lows with small circles to identify areas institutions might target for liquidity.
Order Blocks Identification:
Bullish Order Blocks:
Detects the last down candle before a significant up move.
Draws solid green lines extended to the right, representing potential support zones.
Bearish Order Blocks:
Detects the last up candle before a significant down move.
Draws solid red lines extended to the right, representing potential resistance zones.
Fair Value Gaps (Imbalance):
Identifies and highlights gaps in price action where the market moved rapidly, leaving imbalances.
Draws semi-transparent purple boxes to indicate areas where the price may retrace to fill unfilled orders.
Time and Price Theory:
Trading Sessions Highlighting:
Allows selection of major trading sessions: London, New York, or Asian.
Highlights the chosen session on the chart with a semi-transparent blue background.
Helps focus analysis during periods of higher liquidity and volatility.
Risk Management Display:
Calculates and displays the risk amount per trade based on user-defined account size and risk percentage.
Shows a label on the chart with the calculated risk amount to aid in proper position sizing.
Custom Alerts:
Provides alerts for key events:
Formation of new swing highs or lows.
Identification of bullish or bearish order blocks.
Detection of fair value gaps (both up and down).
How to Use:
Add the Indicator to Your Chart:
Search for "ICT Comprehensive Indicator" in the TradingView Indicators library.
Add it to your chart to begin analyzing the market using ICT concepts.
Configure Settings:
Trading Session Selection:
Choose your preferred trading session in the settings to highlight it on the chart.
Risk Management Inputs:
Input your account size and desired risk percentage per trade to calculate the risk amount.
Analyze the Market:
Market Structure:
Use the swing highs and lows to understand the current market trend.
Liquidity Pools and Order Blocks:
Identify potential entry and exit points by observing marked liquidity zones and order blocks.
Fair Value Gaps:
Look for possible retracement areas where the price may return to fill imbalances.
Set Up Alerts:
Configure alerts based on the indicator's conditions to stay informed of significant market events without constant monitoring.
Benefits:
Holistic Analysis Tool:
Combines multiple ICT principles into one indicator for comprehensive market analysis.
Enhanced Decision-Making:
Aids in identifying high-probability trade setups by highlighting key market areas.
Time-Efficient:
Automates the detection of complex trading concepts, saving time on manual analysis.
Customizable:
Adjustable settings allow tailoring the indicator to individual trading styles and preferences.
Disclaimer:
This indicator is intended for educational and informational purposes only.
Trading involves significant risk, and past performance is not indicative of future results.
Always conduct thorough analysis and consult with a financial advisor before making trading decisions.
Note:
This indicator is inspired by ICT concepts but is not affiliated with or endorsed by Inner Circle Trader.
Users are encouraged to have a foundational understanding of ICT methodologies to fully benefit from this tool.
Alboncalc: Top and Bottom Detector - Straight Line ContinuityDescription:
The "Alboncalc: Top and Bottom Detector - Straight Line Continuity" is an innovative indicator for identifying key price reversal points (tops and bottoms) with precision. Unlike traditional indicators that focus on abstract data representations like oscillators or momentum-based lines, this indicator directly overlays the price chart. It draws a continuous line connecting highs and lows (tops and bottoms), providing traders with a clear and immediate visual representation of market swings. The lines automatically adjust in real-time, maintaining a straight path during trend continuations and only shifting when a trend reversal is detected.
Originality and Usefulness:
This indicator stands out from other tools available on TradingView due to its unique ability to maintain a continuous line across price swings, preserving accuracy and visual clarity. Most traditional top-and-bottom detectors merely mark points or provide indicators that are disconnected from price action, making it harder for traders to spot patterns. This script takes a different approach by drawing lines directly on the price chart, offering greater precision and better trend visualization. This innovation is particularly useful for traders who rely on visual cues and price action analysis to make decisions. It simplifies the process of identifying reversal points and trends without needing to rely on lagging indicators.
How It Works:
This indicator detects tops and bottoms based on user-defined periods. When the highest point in a given period is detected, it marks it as a top, and similarly, when the lowest point is detected, it marks it as a bottom. As the price moves, the indicator adjusts the lines to connect consecutive tops and bottoms. If the trend continues in the same direction (e.g., an uptrend), the line remains straight and extends. If a reversal is detected, a new line is drawn to connect the previous bottom (or top) to the new reversal point, providing an accurate visual representation of market trends.
How to Use:
1. Load the Indicator: Add the "Alboncalc: Top and Bottom Detector - Straight Line Continuity" to your chart from the TradingView script library.
2. Customize Settings: Adjust the "Top Period" and "Bottom Period" inputs to fine-tune the sensitivity of top and bottom detection based on your preferred timeframe.
3. Observe Price Action: As the price moves, the indicator will draw lines directly over the price chart, connecting tops and bottoms.
4. Interpret the Lines: Use the continuous lines to identify ongoing trends and potential reversal points. The line remains straight during trend continuation, indicating sustained movement in one direction. A new line signifies a reversal in the trend.
This tool is ideal for traders using trend-following strategies, breakout detection, or those who prefer clean, visual price action analysis (Only Tops and Bottons).
Underlying Concepts:
The core of this indicator is based on the highest high and lowest low concept, which is common in technical analysis. The logic is simple:
- A top is detected when the price reaches a high point compared to a user-defined number of prior candles (i.e., the `top_period`).
- A bottom is detected when the price hits a low point compared to the prior candles (i.e., the `bottom_period`).
When the price continues in the same trend, the line is extended without a break. This behavior ensures that trends are represented in a clear and consistent manner, which helps traders better identify trend continuations and reversals.
Code Breakdown:
```pinescript
//@version=5
indicator("Top and Bottom Detector - Straight Line Continuity", overlay=true)
```
- This initializes the indicator and specifies that it will overlay directly on the price chart.
```pinescript
var int top_period = input.int(5, title="Top Period", minval=1)
var int bottom_period = input.int(5, title="Bottom Period", minval=1)
```
- These inputs allow the user to customize the number of candles used to identify tops and bottoms. A higher period results in fewer but more significant top/bottom detections, while a lower period increases sensitivity.
```pinescript
isTop = ta.highest(top_period) == high
isBottom = ta.lowest(bottom_period) == low
```
- These lines check if the current candle has the highest high or the lowest low in the defined period. If true, the current price is either a top or a bottom.
```pinescript
var line currentLine = na
var float last_price = na
var int last_index = na
var bool isUpTrend = na
```
- These variables store the current line being drawn (`currentLine`), the last detected price (`last_price`), and the direction of the trend (`isUpTrend`). `last_index` tracks where the last top or bottom was detected.
```pinescript
if (isTop or isBottom)
if (not na(last_price))
if ((isTop and isUpTrend) or (isBottom and not isUpTrend))
line.set_xy2(currentLine, bar_index, (isTop ? high : low))
else
currentLine := line.new(x1=last_index, y1=last_price, x2=bar_index, y2=(isTop ? high : low), color=color.yellow, width=2)
last_price := (isTop ? high : low)
last_index := bar_index
isUpTrend := isTop
```
- The `if` block handles the logic of drawing the line. If a top or bottom is detected, and the trend continues (either an uptrend for tops or a downtrend for bottoms), the current line is extended using `line.set_xy2`. If a reversal is detected, a new line is drawn using `line.new`.
- The `last_price` and `last_index` variables are updated after each detection, and the `isUpTrend` flag is set based on whether a top or bottom was found.
Conclusion:
This indicator offers a more precise and visually intuitive way of identifying tops and bottoms directly on the price chart, making it an essential tool for traders focused on price action. Its ability to draw continuous lines through ongoing trends and adjust only upon a reversal makes it superior in terms of visual clarity compared to most conventional indicators.
