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Wave Analysis

Trend Direction Helper (ZigZag and S/R and HH/LL labels)Hey everyone First of all, I'd like to thank Ricardo Santos, Backtest Rookies for the inspiration for this script. Actually, most of it is coming from them and I only mixed them up (and added my secret sauce ^^). If some of you are not thinking about a trading secret sauce, please get serious for a moment :) Some of you asked me how I do to set the trend direction. You all understood that if you get an UP label, then the price should go up and vice-versa for down. But it's not so easy to define the good signals for each asset and each timeframe. I'm going to repeat what I said yesterday because ... well... that's what trading is about So quoting myself here "The inputs set by default will have to be changed for your asset/timeframe and can't be generic for everything. You have to play with the inputs until the signals will make sense to you The indicator/strategy with a unique configuration that you'll never check or update according to the market condition DOES NOT exit. " BUT... a bit of patience and practice and you might do wonders. The Method I never realized until now but by connecting the higher highs/lower lows, I was drawing zigzag lines. The Zig Zag Master is Ricardo Santos . Please give him a follow, he's awesome For those who don't want to draw on the chart or (my preferred choice) need some inspiration to define your trend directions, this script is for YOU (and your family, your pet, your girlfriend/boyfriend, ...) I think that each asset/timeframe chart has its own history. What worked in a post could work in the future. In that regard, if a trend direction worked in the past, that's the parameter that I'll use to trade with it in a demo account and make sure it's relevant. If not then I will adjust If you're trading with new indicators or a new method right away on your real trading account, you're gonna have a bad time imgflip.com Lines EVERYWHERE The script draws the classical horizontal pivots + the zig zag lines + the Higher Highs/Lower Lows label in just 1 script. I'm very excited to share a script (on which I coded 100 lines out of 500) but no one else did it The horizontal pivots part are coming from Backtest Rookies For more security, you can add a pullback on a moving average after getting a signal. Pullbacks are necessary to limit any eventual loss or maximize your gains by getting in the trend sooner. I really give you a solid method and a great script in my opinion. 6 years of experience given away for FREE :p (when Dave will start thinking as a business man instead :O) Does it repaint ? Getting this question twice a day. You guys are obsessed with the repainting :) Short answer, yes because it will calculate the pivots and zig zags whenever new higher highs/lower lows will be formed. However, the trend direction code is based on the candle close so it shouldn't repaint. If it does, please let me know See you all on Monday Love you all Dave ____________________________________________________________ Be sure to hit the thumbs up. Building those indicators take a lot of time and likes are always rewarding for me :) (tips are accepted too) - If you want to suggest some indicators that I can develop and share with the community, please use my personal TRELLO board - I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies Jump on a 1 to 1 coaching with me - You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python Disclaimer: Trading involves a high level of financial risk, and may not be appropriate because you may experience losses greater than your deposit. Leverage can be against you. Do not trade with capital that you can not afford to lose. You must be aware and have a complete understanding of all the risks associated with the market and trading. We can not be held responsible for any loss you incur. Trading also involves risks of gambling addiction. Please notice I do not provide financial advice - my indicators, strategies, educational ideas are intended to provide only some source code for anyone interested in improving their trading The proprietary indicators and strategies developed by Best Trading Indicator, the object of intellectual property rights are and remain the exclusive property of Best Trading Indicator, at the exclusion of images and videos and texts free of rights or provided by the Company or external legal or physical person. No assignment of intellectual property rights is carried out through these Terms and Conditions. Any total or partial reproduction, modification or use of these properties for any reason whatsoever is strictly prohibited without the express written authorization of the Company.
Pine Script™ indicator
by Daveatt
93
Master000 automation trade indicatorIndicator description: The Master000 indicator is four indicators built into one. They work together to provide trading insights including trend and momentum, reversal points, potential entry points, and projections of future reversal or breakout levels. Trend power Shows strength of trend and a change in momentum Red: The trend has been determined and is short Lime: The trend has been determined and is long Aqua: Continuation of the down trend, but showing down trend is in weakness. Fuchsia: Continuation of the up trend, but showing up trend is in weakness Yellow: Trend is reversing or trend is missing direction Zig Zag Trend Lines (Major/Minor ) Major The trend is graphed based on changes in price. The major trend should be used in deciding which way to enter the trade. Min or The minor trend is similar to the major but it is used to determine your entry point. It is easy to spot higher highs or lower lows. Take not when the minor trend fails to set a new high or a new low. Channels These dotted lines are provided as a quick guide to determine where the trend is headed. They show if price is getting squeezed and we should look for a break out using a flag or pennant pattern or is there an ever widening channel creating a broadening wedge. Look for hesitation or a reversal near the channel lines. Entry Signals Should be taken as a suggestion and not taken everyone. Do your research before entering any trade. There could also be many profitable trades even when an entry signal was not given. Not good now, just reference for you. Strategies for using the indicator Major and minor trendlines: Once major trendline has been set look for a pullback for an entry. Look for a reversal in the major trendline when the minor trendline fails to create a higher high or lower low. Trend Power: Look for an optimal entry point when the trend power turns teal. This mean the trend is reversing and should be an optimal place for an entry going against the previous trend. Indicator Explain video at YouTube: youtu.be Anyone can apply to use it, you will get two weeks for testing it. [/b Just click 'like', when I get the message, I will add you as 'invite only' indicator.
Pine Script™ indicator
by lew.pmo
3
Alnami_Quantum_blocks v.11The (Al Nami Quantum Blocks v.11) script is based on Renko chart that is based on % move of the selected symbol. This is different from the traditional or ATR based Renko charts.. box size = user selected percentage x current price Alnami Quantum Blocks Channel is composed of 5 levels that are calculated based on the box size: 1- Base 2- Green Box High (GBH) = Base + box size 3- Next Green Box trigger (GBN) = base + (box size x 2) 4- Red Box Low ( RBL ) = Base - box size 5- Next Red Box trigger ( RBN ) = base - (box size x 2) Those levels will appear in the chart with the following order: ------GBN------- ------GBH------- ------BASE------ ------RBL------- ------RBN------- Usually when prices are trending up, the price will stay above the base for most of the time,, when it trending downwards, price stays below base most of the time.. Now how to time your entries based on the channel? This strategy draws two levels, breakout level (top red line) and stop level (bottom green line). If the price is above red line, place a buy order If the price is below the green line, place a sell order In version 11 of the Quantum blocks, you can choose to make the those two lines drawn using: recent/near term price actions (less accurate) and fast - set the number of Legs to low value or wider term price actions (more accurate) and slow - set the number of Legs to high value This version also tracks the last three changes for the red and green lines as following: 1- Above, Above, Above = 3 2- Above, Above, Below = 2 3- Above, Below, Below = 1 4- Below, Below, Below = 0 I did run full optimization for the settings of this strategy on Bitcoin (Binance:BTCUSDT) for the following multiple time frames using Amibroker scrips and data downloaded from Binance through a REST API call. The TFs were for 1min, 15min, 30min, 45min, 90min, 120min, 180min, and 240min. pair Input Settings btc TF Profit% Sys DD% Trade DD% sharpe% # Trades Win% Wave% # of Legs up lo 1 204 40.16 15.04 1.33 132 40.15 1.5 4 3 3 15 249 35 14.3 2.96 35 51.43 1.8 3 1 3 30 469 28.95 14.04 3.82 34 67.65 1.4 3 1 3 45 712 54.48 23.3 2.49 46 54.35 1.7 3 3 3 90 1114 40.51 21.41 3.3 48 54.17 1.4 2 3 3 120 602 25.32 16.8 2.82 51 43.14 1.2 2 3 3 180 960 35.9 20.09 3.33 42 52.38 0.9 2 2 3 240 819 46.84 28.27 3.48 46 65.22 0.6 2 3 3 I spent a lot of time and resource in providing the above, If this script/back tests helped in making some profits, then kindly express your appreciation and support to this work by sending some altcoins to any of the following wallets, this will encourage me sharing more stuff with the public: BTC : 15VLCLZRkEhhZn6E4gNjMLVYnmCcUzKvWU LTC : LN6mE6aZhEqVVfssmaQ3kk8PPspWQ5wToy ETH : 0x7901035f2b6f334fa404d0ceb187d7bfcfdb72ce
Pine Script™ strategy
by anas_algo
2
MoT - ZigZag Fibonacci + Ext./Ret. (Extended Ver.)The Indicator plots ZigZags and then overlays Fibonacci Levels (With Extension and Retracement Levels). W have also programmed the indicator to search for Bullish/Bearish chart patterns in the form of ABC's, ABCD's, 3 Drives , BAT etc etc. We have also added multiple time frame (MTF) options so the script will search for swing Highs/Lows over a larger period. Please Note - This Version is with Extended lines of the most current Fib Levels. Which can make the charts look very busy. The other Indicator (No Extensions - Cleaner) is here:
Pine Script™ indicator
by MastersOfTrading
4
MoT - ZigZag Fibonacci w/Extensions + Chart Pattern RecognitionOne of my favourite indicators we have created over an extremely creative weekend while also watching Bitcoin keep pushing on! The Indicator plots ZigZags and then overlays Fibonacci Levels (With Extensions). I have also programmed the indicator to search for Bullish/Bearish chart patterns in the form of ABC's, ABCD's, 3 Drives, BAT etc etc. This evening we have also added multiple time frame (MTF) options.
Pine Script™ indicator
by MastersOfTrading
2
Zero Lag - ZigZag - JDThis is a alternative version of the well known "ZigZag indicator" but it uses turning points of the Jurik ma instead of the traditional "pivot points" that are by definition lagging by a large lookback period, the (almost-) Zero Lag ZigZag lags by about 2 bars on average (depending on the candles forming) The ZigZag pattern can be used to draw trendlines and S/R lines It can also be used for "wave counting" in a way that reduces interpretation. If you find other uses, please leave your ideas in the comments! Shoutout to Everget for the awesome Jurik code!! JD. #NotTradingAdvice #DYOR
Pine Script™ indicator
by Duyck
49
Simple LinesIntroduction Making lines is great in technical analysis since it can highlights principal movements and make the analysis of the price easier when using certain methodologies (Elliott Waves, patterns). However most of the indicators making lines (Zig-Zag, simple linear regression) are non causal (repaint), this is the challenge i tried to overcome, making an indicator capable of making lines in a smart way (able to follow price without loosing a linear approach) and with the least lag possible, i inspired myself from the behaviour of the renko when using a small brick size. This indicator does not repaint . The code is short and i hope, understandable for all of you, making lines is not a difficult task and its important to know that when a problem appear complex it does not mean that the code used to solve this problem must be complex. Lets see the indicator in details. The indicator The indicator have 4 parameters, the length parameter who control the length of lines, the emphasis parameter who control the stability and also the ability to make lines closer to the price (thus minimizing the sum of squares) , the mult parameter which is similar to emphasis and a point option that we will discuss later. When emphasis and mult are both equal to 1 the indicator will sometimes draw a perfect line, however this line will try to follow the price and thus can create a noisy result. This is where emphasis and mult will correct this behaviour. The emphasis parameter give a more periodic look as well as some control to the lines but can also destroy them. This should not happen with mult , this parameter also give more predictability to the lines. Overall it correct the drawbacks of the parameters combinations mentioned earlier. Its also possible to mix both the emphasis and mult parameter, but take into account that when both are equals the result consist of less reactive lengthy lines with low accuracy. Its better to only use one of them and let the other stay to 1. Point Option The indicator can sometimes have a weird look, appearing almost flat or just dont appearing at all. When such thing happen use the point option. XPDUSD without point option. with point option : Time Frame Problem and Its Fix When using higher time-frames the result of the indicator can appear different, in general the higher the time frame the lengthier are the lines. In order to fix this you can use decimals in the length parameter length and mult both equal to 5.5, emphasis cant use decimals. Conclusion I have highlighted a simple way to make use of the small renko box size method in order to return reactive lines without making the indicator repaint. However Its ability to be close to the price as well as being always super reactive is not a guarantee. For any suggestion/help feel free to pm me, i would be happy to help you :)
Pine Script™ indicator
by alexgrover
17
Divergences for many indicators v2.0A gift from me to all. This script is developed to find Divergences for many indicators. it analyses divergences and then draws line on the graph. red for negatif, lime for positive divergences. Currently script checks divergence for RSI, MACD, MACD Histogram, Stochastic, CCI, Momentum, OBV, Diosc, VWMACD and CMF indicators. You can use some or all of these indicators to check divergences as you wish by choosing them on the menu. Also you can add/remove many other indicators to the script to check if there is divergence. The script first calculates tops/bottoms by using higher time frame zig zag and then finds divergences. Higher Time Frames are if currend period 1 min => HTF = 5 mins if currend period 3 mins => HTF = 15 mins if currend period 5 mins => HTF = 15 mins if currend period 15 mins => HTF = 1 hour if currend period 30 mins => HTF = 1 hour if currend period 45 mins => HTF = 1 hour if currend period 1 hour => HTF = 4 hours if currend period 2 hours => HTF = 4 hours if currend period 3 hours => HTF = 4 hours if currend period 4 hours => HTF = 1 day if currend period 1 day => HTF = 1 week if currend period 1 week => HTF = 1 week future plan : script finds regular divergences, soon I will add hidden divergences and also I plan to add alert ;)
Pine Script™ indicator
by LonesomeTheBlue
41
Fractal FramerThis indicator constructs dynamic high/low price range levels, based on 3 point fractals. Trend lines are drawn (zigzag style) at fractal points when trend direction is clearly established. This is a lagging indicator: fractals lag by one bar and trend lines can lag by many bars. However, its strength lays in objectively defining historic price action: e.g. support/resistance levels and waves within a trend. See the comments at the beginning of the script for a complete description.
Pine Script™ indicator
by brobear
1