Flag DetectorThis script attempts to find consolidations or retracements within the context of a previous uptrend - basically looking for flag type patterns. It first measures an initial move (referred to as the flag pole in this script) and then looks for consolidation after that move within a certain range. If the consolidation is within the rage, it plots a dot under the candle to show you the consolidation areas. It's not fool proof, but seems to do a decent job of identifying pullbacks and sideways consolidations reasonably well.
Mum Analizi
3 Line Strike [TTF]This indicator is a spin-off of the popular TMA Overlay indicator made by request of the original author that narrows down the scope to simply identifying a couple of key candlestick patterns - Engulfing candles and 3 Line Strikes.
In addition to being a far more tailored and purpose-specific indicator, we have also update the indicator code to the latest version of Pinescript and added some enhanced alerts.
Candle Stick UpdateHeikin ashi chart so powerful that you can understand trend direction easily. But sometimes, this type of chart doesn't update properly and make no sense on real time. So I made this script. You can now change candle stick style default to heikin ashi (default / modified version) on the real time default chart without switching heikin ashi chart. Enjoy traders!!! And don't forget to press the like button :)
Dante Bullish/Bearish EngulfingBearish and Bullish engulfings as taught by Tom Dante Piccin. Different from other bullish/bearish engulfing indicators because other indicators only want the body of the current candle to engulf the previous body.
This indicator needs the low and high of the current candle to engulf the previous one and also in the example of a bullish engulfing close above the previous candle high or in a bearish engulfing example close below the low of the previous candle.
J2S Backtest: 123-Stormer StrategyThis backtest presents the 123-Stormer strategy created by trader Alexandre Wolwacz "Stormer". The strategy is advocates and shared by the trader through his YouTube channel without restrictions.
Note :
This is not an investment recommendation. The purpose of this study is only to share knowledge with the community on tradingview.
What is the purpose of the strategy?
The strategy is to buy the 123-Stormer pattern at the bottom of an uptrend and sell the 123-Stormer pattern at the top of a downtrend, aiming for a short stop for a long profit target.
To which timeframe of a chart is it applicable to?
Recommended for weekly and daily charts, as the signals are more reliable, being that strategy a good option for swing and position trading.
What about risk management and success rate?
The profit target is established by the author as being twice the risk assumed. Also according to the author, the strategy is mathematically positive, reaching around 65% of success rate in tradings.
How are the trends identified in this strategy?
Two averages are plotted to indicate the trend, a fast EMA average with an 8-week close and a slow EMA average with an 80-week close.
Uptrend happens whenever the fast EMA is above the slow EMA and prices are above the fast EMA. In this case, we should start looking for a LONG entry based on the signal of the 123-Stromer pattern to buying.
On the other hand, downtrend happens when the fast EMA is below the slow EMA and prices are below the fast EMA. In this case, we should start looking for a SHORT entry based on the signal of the 123-Stromer pattern to selling.
How to identify the 123-Stormer pattern for a LONG entry?
This pattern consists of three candles. The first candle has a higher low than the second candle's low, and the third candle has a higher low than the second candle's low. In this pattern, we will buy as soon as a trade occurs above the third candle's high, placing a stop as soon as a trade occurs below the second candle's low, with profit target twice the risk assumed. In another words, the amplitude of the prices of the three candles from the third candle’s high upwards. (you can use fibonacci extension to determine your stops and profit targets).
Importantly, the low of the three candles must be above the fast EMA average and in an uptrend.
How to identify the 123-Stormer pattern for a SHORT entry?
This pattern consists of three candles. The first candle has a lower high than the second candle's high, and the third candle has a lower high than the second candle's high. In this pattern, we will sell as soon as a trade occurs below the third candle's low, placing a stop as soon as a trade occurs above the second candle's high, with profit target twice the risk assumed. In other words, the amplitude of prices of the three candles from the third candle’s low down (you can use fibonacci extension to determine your stops and profit targets).
Importantly, the high of the three candles must be below the fast average and in a downtrend.
Tips and tricks
According to the author, the best signal for both LONG or SHORT entry is when the third candle is a inside bar of second candle.
Backtest features
Backtest parameters are fully customizable. The user chooses to validate only LONG or SHORT entries, or both. It is also possible to determine the specific time period for running the backtests, as well as setting a threshold in candels for entry by the 123-Stormer pattern.
Furthermore, for validation purposes, you can choose to activate the best signal of the pattern recommended by the author of the strategy, as well as change the values of the EMA averages or even deactivate them.
Final message
Feel free to provide me with any improvement suggestions for the backtest script. Bear in mind, feel free to use the ideas in my script in your studies.
RSI In-Chart Indicator with Candle StickSimplified RSI with in Chart Indicator for better analysis, What is does? it simply plot OB/OS over candles for better understanding. Also you can on/of candle stick along side in setting but the RSI is always on.
Candle stick Patterns
Three White Soldier (TWS)
Three Black Crows (TBS)
Fake breakHi Traders,
I've developed an indicator which can detect fake-breaks on the chart.
In the following you'll find the definition of the fake break candles and also you will find how to recognize it on the chart with practical examples.
What is the fake break pattern?
Sometimes support and resistance lines broke with a full body and strong candles that gives us the idea of sharp movements on the chart but suddenly the next candle returns all the path of the previous candle. in this case we can say fake break is happening on the chart.
This indicator detect fake break patterns based on two criteria:
1. It uses AverageTrueRange indicator to measure the strength of the pattern.
2. The returning candle should engulf minimum 75% of the break candle.
This indicator plot 2 terms in the name of "FB-D" and "FB-U" that are abbreviations of the "Fake Break Down" and "Fake Break Up".
You can also set alerts to get notified when fake breakout happens on the chart.
Notice: This pattern is only acceptable in valid support and resistance zones and you can not rely on it everywhere on the chart (specially in the middle of the waves).
Notice: The source code of this indicator is open and you are allowed to use it on your scripts by mentioning the name of author.
Disclaimer: This is not a financial advice or any signal to buy or sell, the goal of developing such an indicator is to use for educational purposes.
PopGun Trading, PG Pattern DetectorPopGun Bar Pattern Strategy
PG Trading
The indicator does the following:
It detects the Outside Bar, the smaller inside Bar and the 3rd Pop Gun that is bigger, than the inside Bar.
When the Pop Gun was detected, the indicator will calculate 3 targets for long and short trades.
In our understanding, a Pop Gun is neutral. The next candles after the Pop Gun will decide if the PG breakout is bullish or bearish.
So if one of the next candles after the PG is breaking the high or low of the PG Candle, this is a breakout confirmation and can traded long or short.
We are using the PG Indicator for Stock, Futures and Index Trading.
The Script uses 3 targets per default, but you can extend the target dots up to 6.
If you want to see the targets in plain text, you can activate the PG Box.
The targets are calculated really easy: Just the height of the candle multiplied with 1, 2 and 3 (4,5 and 6 additionally). In some communities there is an ATR calculation for more extended targets but it seems, that the ATR Calculation will sometimes lead to unreachable targets if the ATR is really high intraday...
We trade PopGuns starting at M15 chart. I think PGs smaler than M15 are not worth a trade...
Maybe i will add the ATR Function in the future just to compare the 2 ways to calculate PG targets. We are really doing well with 1,2,3 targets based on the PG Candle size. (Low to High).
Please leave a comment if you have some feature requests or input to make this the best Pop Gun Indicator in Trading View ;-)
Doji FinderModified version of HPotter's "Doji and Near Doji automatic finding script".
Candles are classified based on not just the size of the body but also the distance from the close to the high/low. This avoids classifying a reversal candle with a long wick but a strong close as a doji.
BTC Price TrendThe crypto market is reacting very quickly based on BTC price, thus monitoring the BTC price is very helpful.
This script will color the candles based on the BTC price trend. Set the timeframe and down/up percentage to monitor the BTC price trend, and the script should not repaint.
The indicator will monitor the BTC price in a high frame, for example, for 4 hours, if the price goes down the set percentage during one candle, will change the candle color. Thereafter, if the price goes up within a small timeframe (as you set) then the candle color will be changed.
So, in case the bar color is red, then it is recommended to avoid trading since the BTC price is down trending.
The indicator is requesting the BTC price as of now, and the previous closed price, then it will calculate the price difference, if it result is minus, then the price is in a downtrend, else it is in an uptrend.
Better Heiken-Ashi Candles w/ Expanded Source Types [Loxx]Better Heiken-Ashi Candles w/ Expanded Source Types is an indicator to compare regular candles to traditional Heiken-Ashi candles to "better" Heiken Ashi candles. This indicator and comparison study appears an oscillator. The purpose of this indicator is to demonstrate a better way to calculate HA candles and also to demonstrate expanded source types. This indicator is meant to be used by advanced Pine Coders who wish to add fine-tuning to their indicators and strategies.
What are Heiken Ashi "better" candles?
The "better formula" was proposed in an article/memo by BNP-Paribas (In Warrants & Zertifikate, No. 8, August 2004 (a monthly German magazine published by BNP Paribas, Frankfurt), there is an article by Sebastian Schmidt about further development (smoothing) of Heikin-Ashi chart.)
They proposed to use the following :
(Open+Close)/2+(((Close-Open)/(High-Low))*ABS((Close-Open)/2))
instead of using :
haClose = (O+H+L+C)/4
According to that document the HA representation using their proposed formula is better than the traditional formula.
What are traditional Heiken-Ashi candles?
The Heikin-Ashi technique averages price data to create a Japanese candlestick chart that filters out market noise.
Heikin-Ashi charts, developed by Munehisa Homma in the 1700s, share some characteristics with standard candlestick charts but differ based on the values used to create each candle. Instead of using the open, high, low, and close like standard candlestick charts, the Heikin-Ashi technique uses a modified formula based on two-period averages. This gives the chart a smoother appearance, making it easier to spots trends and reversals, but also obscures gaps and some price data.
What's going on with this indicator?
- First, we have the options to select the candlestick type: Regular, HA, HA Better
- Next, and to demonstrate the expanded source types, I've added a simple moving average. In the drop down for the SMA source you'll notice something very different from the typical TradingView source selector. Here's how to decode the new names for the sources:
Close = close
Open = open
High = high
Low = low
Median = hl2
Typical = hlc3
Weighted = hlcc4
Average = ohlc4
Average Median Body = (open+close)/2
Trend Biased = (see code, too complex to explain here)
Trend Biased (extreme) = (see code, too complex to explain here)
... for HA and HA better, see the same set up as above but with different open and close values to calcualate the other source types
- For the HA better calculations, we run the close value through either an Adaptive, Kaufman, or T3 smoothing filter. The length for these smoothing filters, either 2 or 3, can be found in the code and is a constant value that shouldn't be changed. This smoothing is in inline with what is described in the article mentioned above
- Lastly, I've placed an SMA over the oscillator so that the user can test out the various sources explained above
Included:
- Toggle on/off bar coloring
Wick Pressure/Close point inside the barCalculates the strength of closing within the bar. Higher the closing within the high/low points of the bar, greater is the buying strength and vice versa. HMA of the score for the input period is then divided by standard deviation for smoothing. Works well for higher timeframes with a larger data set. Compliments other indicators. Input period should be changed for various timeframes. Shorter the timeframe, the longer the input period is preferable.
Pinbar trailing stop strategyThe strategy finds the nearest pinbar pattern and opens a position (long or short). You choose your take profit and stop loss multiplier.
Take Profit - X times the pinbar size from it's highest point.
Stop loss - X times the pinbar size from it's lowest point.
You can find more detailed screenshots and the source-code on my github page: samgozman/pinbar-strategy-tradingview
Swing Indicator (2 bars before, 1 bar after)This swing indicator is created to mark swing high and low followed by the condition of Bravo Trade Academy.
Conditions for being a Swing High
- The high price of swing high bar has to be higher than the high price of 2 bars before and 1 bar after
Conditions for being a Swing Low
- The low price of swing low bar has to be lower than the low price of 2 bars before and 1 bar after
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Swing Indicator นี้สร้างขึ้นเพื่อช่วยในการมาร์ค Swing High และ Swing Low ตามเงื่อนไขการเป็น Swing หน้า 2 หลัง 1 ของ Bravo Trade Academy
เงื่อนไขการเป็น Swing High
- ราคา High ของแท่งที่เป็น Swing High จะต้องสูงกว่าราคา High ของแท่งก่อนหน้า 2 แท่ง และแท่งหลัง 1 แท่ง
เงื่อนไขการเป็น Swing Low
- ราคา Low ของแท่งที่เป็น Swing Low จะต้องต่ำกว่าราคา Low ของแท่งก่อนหน้า 2 แท่ง และแท่งหลัง 1 แท่ง
Liquidity Heatmap LTF [LuxAlgo]This indicator displays column heatmaps highlighting candle bodies with the highest associated volume from a lower user selected timeframe.
Settings
LTF Timeframe: Lower timeframe used to retrieve the closing/opening price and volume data. Must be lower than the current chart timeframe.
Other settings control the style of the displayed graphical elements.
Usage
It can be of interest to show which candles from a lower timeframe had the highest associated volume, this allows for the highlighting of areas where a candle body was the most traded by market participants.
The area with the highest activity is highlighted in the script with a yellow color (or another user selected color) and additionally by two lines forming an interval.
When the candle body with the highest volume is overlapped by a candle body with lower volume this one will be highlighted instead, hence why certain areas of high activity might not be highlighted by the heatmap.
It is recommended to hide regular candles or use a more discrete graphical presentation of prices when using this tool. Lines are also displayed to highlight the full candle range as well as if a candle was bullish (in green) or bearish (in red). These lines can be hidden if the user is only interested in the heatmap.
Volume Impulse & Candlestick Patterns - FontiramisuIndicator showing volume impulse & engulfing candlestick pattern.
You can set up multiple parameter for both events.
Volume Impulse :
Volume Period : Lenght of the average volume calculated.
Volume Multiplier : Factor to compare actual volume with average volume.
Engulfing Pattern :
VS avg body : Let you chose to compare body candle to average body of the last few candles (define with parameter : lenghtSizeAvgBody ), otherwise it will be compared to the last body candle.
Engulfing Multiplier : Factor to compare and validate the pattern.
Big Moves IndicatorThis indicator marks big candles (major moves in percentage) on the chart and, more importantly, you will be able to add an alert to them.
Indicator checks if the height (high - low) of last closed candle is bigger than the specified percent of the close of its previous. No matter if the last candle is red or green, the indicator compares the move amount with the previous close. Accordingly, seeing a mark above or below a candle means that there is a large movement in it compared to its previous candles.
Default percentage is 5 but you can change it as you with in the settings and I want to underline that the indicator ignores the non-closed candle at the moment.
CANDLE FILTER Todays scripts is based on my Pullback And Rally Candles with other meaningful candles such as Hammers and Dojis.
You can choose which Candles to show on the cart and if you want to candles to appear above or below a moving average.
If you follow my work, you may recognise some of these candles which I'm about to show you however these candles are 1) more refined and 2) has moving average filters.
Ive included a D,6H,1H Candle in this script as on different timeframes - each swing low on average has a different amount of bars within the swing low / swing high so the DPB and RD will only work on the Daily
//Pullback candle
This candle is very powerful when used with simple Price Action such as Market Structure//Demand zones and support zones. (((((WORKS BEST IN UPTRENDS AND BOTTOM OF RANGES)))))
Ive included a D,6H,1H Pullback Candle in this script as on different timeframes - each swing low on average has a different amount of bars within the swing low so the DPB will only work on the Daily
//DAILY PULLBACK (Swing Traders)
snapshot
//4H PULLBACK (Swing Traders)
snapshot
- this signal will produce more signals due to the swing low filter on the 4H
//1H PULLBACK
snapshot
- this signal has been refined due to too many candle displaying in weak areas
!!!IF YOU DONT WANT TO USE PULLBACKS DURING DOWNTRENDS THEN USE THE EMA FILTER TO TURN OFF THE PULLBACKS WHEN PRICE IS BELOW THE MOVING AVERAGE!!!
//Rally candle (My personal Favourite) (((((WORKS BEST IN DOWNTRENDS AND TOP OF RANGES)))))
This candle is very powerful when used with simple Price Action such as Market Structure//Supply zones and Resistance zones.
//DAILY RALLY(Swing Traders)
snapshot
//4H RALLY(Swing Traders)
snapshot
- this signal will produce more signals due to the swing high filter on the 4H
!!!IF YOU DONT WANT TO USE RALLIES DURING UPTRENDSTHEN USE THE EMA FILTER TO TURN OFF THE RALLIES WHEN PRICE IS ABOVE THE MOVING AVERAGE!!!
//POWERFUL DOJIS (INDECISION)
snapshot
We look for indecision in key areas to see if momentum is shifting. When combined with Pullbacks or Rallys - this will enhance the odds of a probably area.
//HAMMERS
snapshot
//MOVING AVERAGES
snapshot
Short EMA = 50
Long EMA = 200
This filter can be used when the market is trending - look out for rejections off the moving averages
Also you can chance the Short And Long EMA to choose which MA cross you want to use
snapshot
ALSO ALL THE CANDLES HAVE A ALERT CONDITIONS WHICH YOU CAN ACCESS - THIS WILL ALERT ANY CANDLE YOU CHOOSE
Please leave a like/comment on this post as this is much appreciated....
Inside Bar FinderInside bars occur when the range of a candlestick falls entirely within the previous candlestick's range. This indicates volatility contraction which often leads to volatility expansion, i.e. large price movements.
This indicator includes options such as:
- The number of consecutive inside bars required to trigger the indicator
- Signal lines to indicate the high and low of the outermost or innermost bars
Try out this indicator with different options on different timeframes to see if inside bars increase the probability of identifying the direction of price movements. Breaks or closes outside the inside or outside signal lines can be used to trigger trade signals.
Triangle lineHello all ..
Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
Consecutive positive/negative candlesConsecutive positive/negative candles
Shows the consecutive negative or positive candles
Leg/Base & GAP CandlesThis script, redraws the Minute, Hourly, Daily, Weekly, Monthly candles for gap up and gap down situation. Also this candle marks the LEG candles and BASE Candles with different colors to mark the supply and demand zone.
This script is only for Indian NSE markets (09:15 to 15:30) for GAP up/GAP down redraw.
This script is most beneficial for TradeLegend students.
This script is originally made by me, and no code has been modified or copied from anywhere else except Pinescript documentation.
Inverted Hammer - Extended OptionsThis inverted hammer indicator has several options that help identify instances with a higher probability of success.
For example, inverted hammers may have a higher success rate when they:
- Breaks the previous day's high
- Close higher than the previous close
- Have a large upper wick
- Have a small lower wick
etc.
Play with the options on your chart of choice to see which options are more likely to indicate bottoms.