Advanced Choppiness Indicator with CPMA"The Advanced Choppiness Indicator with CPMA is a technical analysis tool designed to assist traders in identifying choppy market conditions and determining trend direction. It combines two key components: the Choppiness Index and a Custom Price Moving Average (CPMA).
The Choppiness Index is calculated using the Average True Range (ATR), which measures market volatility. It compares the ATR to the highest high and lowest low over a specified period. A higher Choppiness Index value indicates choppier market conditions, while a lower value suggests smoother and more directional price movements.
The CPMA is a custom moving average that takes into account various price types, including the close, high, low, and other combinations. It calculates the average of these price types over a specific length. The CPMA provides a smoother trend line that can help identify support and resistance levels more accurately than traditional moving averages.
When using this indicator, pay attention to the following elements:
Yellow range boxes: These indicate choppy zones, where market conditions are characterized by low momentum and erratic price action. Avoid entering trades during these periods.
Histogram bars: Green bars suggest an uptrend, while red bars indicate a downtrend. These bars are based on the CPMA and can help confirm the prevailing trend direction.
CPMA angle: The angle of the CPMA line provides further insight into the trend. A positive angle indicates an uptrend, while a negative angle suggests a downtrend.
Choppiness thresholds: The indicator includes user-defined thresholds for choppiness. Values above the high threshold indicate high choppiness, while values below the low threshold suggest low choppiness.
Trade decisions: Consider the information provided by the indicator to make informed trading decisions. Avoid trading during choppy zones and consider entering trades in the direction of the prevailing trend.
Remember that the indicator's parameters, such as ATR length and CPMA length, can be adjusted to suit your trading preferences and timeframe. However, it's important to use this indicator in conjunction with other technical analysis tools and your trading strategy for comprehensive market analysis."
By combining the Choppiness Index, CPMA, and other visual cues, this indicator aims to help traders identify suitable trading conditions and make more informed decisions based on market trends and volatility.
Grafik Paternleri
TGIF StatsTGIF - "Thank God it's Friday"
After a heavily bearish week (tuesday, wednesday and thursday) price sometimes looks for some retracement on fridays. Vice versa for bullish weeks.
This script shows how often that specific scenario happens and displays that data in a table.
The user has the option to input a starting year for the statistic and is able to filter between bearish or bullish weeks.
*disclaimer : if paired with a higher timeframe pd array taught by ICT the stats should be better, that's not included in the code though*
⚠️ Open Source ⚠️
Coders and TV users are authorized to copy this code base, but a paid distribution is prohibited. A mention to the original author is expected, and appreciated.
⚠️ Terms and Conditions ⚠️
This financial tool is for educational purposes only and not financial advice. Users assume responsibility for decisions made based on the tool's information. Past performance doesn't guarantee future results. By using this tool, users agree to these terms.
Hobbiecode - RSI + Close previous dayThis is a simple strategy that is working well on SPY but also well performing on Mini Futures SP500. The strategy is composed by the followin rules:
1. If RSI(2) is less than 15, then enter at the close.
2. Exit on close if today’s close is higher than yesterday’s high.
If you backtest it on Mini Futures SP500 you will be able to track data from 1993. It is important to select D1 as timeframe.
Please share any comment or idea below.
Have a good trading,
Ramón.
Hobbiecode - Five Day Low RSI StrategyThis is a simple strategy that is working well on SPY but also well performing on Mini Futures SP500. The strategy is composed by the followin rules:
1. If today’s close is below yesterday’s five-day low, go long at the close.
2. Sell at the close when the two-day RSI closes above 50.
3. There is a time stop of five days if the sell criterium is not triggered.
If you backtest it on Mini Futures SP500 you will be able to track data from 1993. It is important to select D1 as timeframe.
Please share any comment or idea below.
Have a good trading,
Ramón.
BRAHMA_ALARMThe indicator is an update to the "HMA-Kahlman Trend & Trendlines" script by capissimo, which is available at the following link: The update includes the integration of an alarm function to provide additional functionality.
The indicator continues to be based on the combination of the HMA (Hull Moving Average)-SMA (Simple Moving Average) method and the Kalman filter to generate precise trading signals. The original script by capissimo serves as the foundation for the SIMSOIL indicator, which has been enhanced by the addition of the alarm function to keep traders informed of potential trading opportunities.
It is important to emphasize that indicator is developed as an update to the original script by capissimo. I would like to thank capissimo for their original work on the script, and I have added the alarm function as an extension.
RD Opening Range/Initial BalanceIntroducing the RD Opening Range/Initial Balance indicator. The opening range is the first 60 minutes of trading action for a given day (High, Mid, and Low).
The market tends to put significance in these levels, that's why we use them in our trade system.
There is also a data panel:
Today - Today's opening range value
W-Avg - This weeks average
20D CA-OH - the total number of closes above the opening range over the last 20 days (above high)
20D CA-OL - the total number of closes below the opening range over the last 20 days (below low)
* We do plan to add additional data points.
* Only the last OR has labels, we will not be adding them or an option in the future.
* Full customization in setting panel. Color of lines, background, no display of data panel and more.
How to Use
These levels act as dual magnets. They both attract price and repel price.
You use price action and rules to decipher if price is being attracted or repelled.
You will notice as you use this indicator that price respects these levels. Often when answering the 3Qs one of these levels is in play.
During the cash market these levels play a significant role in price action. Even during the Globex/Overnight session these levels are a factor.
Circle areas are examples of price reactions at OR key levels:
If you trade with the RDTS you already know how to use these levels as reaction and target zones.
For clues on which level price is being repelled or attracted I'd suggest you utilize bias and momentum indicators like the RDA.
Initial Balance vs Opening Range
Before we move on and discuss how to use this indicator I want to mention what I consider the difference between the Opening Range and the Initial Balance.
I've adopted the Opening Range verbiage for the first 60 minutes of trading even though the Opening Range is often defined as the first 15m or first 30m.
The more accurate term for the first 60m should be Initial Balance. I'm not sure exactly where this originated but I learned this term when I was heavily trading TPO-- the IB is the first 2 30m blocks of trading.
Any questions or improvements just comment below.
This script was created in by both Bhangerang (an Alpha member of the RDTS) with help by @RexDogActual as well as permission to publish.
ATR Daily BandThis indicator draws an upper and lower band for each day. It uses the Average True Range calculation (with configurable lookback) and places the band at 1ATR above and 1ATR below the daily open.
I use this indicator as a simple gauge to tell how significant price movement is, and get a feel for the daily volatility. Due to the fractal nature of price action, it can be difficult to determine if a price movement is significant while zoomed in on a single intraday chart. Using this indicator, I can tell if the price action is approaching the ATR or if it's just staying within the band.
Strategies: Useful for both mean reversion and momentum strategies. It's up to you to decide how this metric will fit into your trading strategy. I currently use this indicator to look for mean reversion setups, but that is due to the current market conditions and my personal trading style.
The Golden Candlestick PatternThe Golden pattern is a three-candlestick configuration based on a variation of the golden ratio (2.618) from the Fibonacci sequence.
The bullish Golden pattern is composed of a normal bullish candlestick with any type of body, followed by a bigger bullish candlestick with a close price that is at least 2.618 times the size of the first candlestick (high to low). Finally, there must be an important condition that is, a third candlestick that comes back to test the open of the second candlestick from where the entry is given.
The bearish Golden pattern is composed of a normal bearish candlestick with any type of body, followed by a bigger bearish candlestick with a close price that is at least 2.618 times the size of the first candlestick (high to low). Finally, there must be an important condition that is, a third candlestick that comes back to test the open of the second candlestick from where the entry is given.
Multi-Timeframe FVG [TFO]The goal of this indicator is to find Fair Value Gaps (FVGs) that overlap on multiple timeframes. FVGs are already meant to be “sensitive” areas where one might expect price to react from, therefore FVGs that overlap on multiple timeframes could provide even more confluence that there may be a reaction in said area (with proper context).
Mitigation Type allows users to select how FVGs should be mitigated, either by wick or by completely closing through the area.
The displacement option helps to filter out smaller FVGs by looking for areas where price ran rather quickly (causing displacement). This is done by comparing the candle that made the FVG to a fractional ATR value, so that one may fine-tune how much “larger” the candle range needs to be, relative to recent price action.
The timeframe alignment option allows users to select how many timeframes must be converging in order to draw FVGs. For instance, with all timeframes selected, a timeframe alignment value of 2 would require that there be overlapping FVGs on 2 or more timeframes. A value of 3 would require that there be overlapping FVGs on all 3 timeframes in order for them to be drawn.
Pro Trading Art - Head And ShouldersHow the Script Works:
1. The script identifies potential Head and Shoulders patterns by searching for specific pivot highs and pivot lows in the price data.
2. It checks for the presence of a left shoulder, head, and right shoulder based on the conditions defined in the script.
3. If a valid Head and Shoulders pattern is found, the script plots lines and labels on the chart to visualize the pattern.
4. The script also identifies Inverted Head and Shoulders patterns using similar logic but with different conditions.
5. It plots lines and labels for the Inverted Head and Shoulders pattern.
6. The script generates short and long conditions based on the patterns. Short conditions trigger when the close price crosses below the neck level of a Head and Shoulders pattern, while long conditions trigger when the close price crosses above the neck level of an Inverted Head and Shoulders pattern.
7. It plots sell and buy signal shapes on the chart when the short and long conditions are met, respectively.
8. The script can also trigger alerts to notify the user when a valid Head and Shoulders or Inverted Head and Shoulders pattern is detected.
9. The script provides visual cues on the chart to help users identify potential trading opportunities.
10. The logic and parameters of the script can be modified by the user to customize the behavior and adapt it to different trading strategies.
How Users Can Make Profit Using This Script:
1. Identify potential short-selling opportunities: When a valid Head and Shoulders pattern is detected and a short condition is met, it indicates a potential trend reversal. Traders can consider opening short positions to profit from a downward price movement.
2. Identify potential long-buying opportunities: When a valid Inverted Head and Shoulders pattern is detected and a long condition is met, it suggests a potential trend reversal. Traders can consider opening long positions to profit from an upward price movement.
3. Combine with additional analysis: Users can utilize this script as a tool in their overall trading strategy. They can combine the signals generated by the script with other technical indicators, fundamental analysis, or market sentiment to make more informed trading decisions.
4. Define appropriate entry and exit points: Traders can use the lines and labels plotted by the script to determine entry and exit points for their trades. For example, they may choose to enter a short position after the price crosses below the neck level and exit when the price reaches a predetermined target or when the pattern is invalidated.
5. Set risk management measures: It is important for users to implement proper risk management strategies when trading based on the script's signals. They should define stop-loss orders to limit potential losses if the trade goes against them and consider setting profit targets to secure profits when the trade moves in their favor.
Farzan Paid CaliburnFarzan Paid Caliburn is used to identify trends and smoothen out price fluctuations. It was derived from the candlestick charting techniques, and it is based on open, high, low and close prices from the previous session
The Farzan Paid Caliburn indicator is plotted as a candlestick chart with a series of Blue and Black candles. The Blue candles indicate an uptrend while Black candles indicate a downtrend.
The Farzan Paid Caliburn indicator is a trend-following indicator that helps traders identify the direction of the current market trend.
To use this Farzan Paid Caliburn indicator you need to follow these steps :-
*1.Open the chart of a particular stock you want to trade.
*2.Fix the time interval of 10 minutes for the intraday trading. For that, you can use Tradingview charts.
*3.Insert the Farzan Paid Caliburn as your indicator.
The Farzan Paid Caliburn is shown under the main chart and their plots indicate the current trend. Farzan Paid Caliburn indicator can be used with varying periods (daily, weekly, intraday etc.) and on varying instruments (stocks, futures or forex) .
My personal preference is to use the Indicator on Weekly chart for best result.
Interactive trendline - Proximity Doji & 3LSThis script was developed with Blockhead305 (seriously talented) and uses 1) the Three Line Strike from The Moving Average as well as 2) an original doji script written for me and 3) the Interactive Trendline as developed by Blockhead305. The basic premise is that should a doji or Three Line Strike occur within a customizable ATR distance from your trendline, an on-chart notification will appear or you could set an alarm to warn you if this has happened.
How to set this up:
Step 1 - Find a a trend
Step 2 - Identify the candles that touches the trendline
Step 3 - Click on the indicator
Step 4 - Set the X1 and Y1 coordinates for the start of the trend
Step 5 - Set the X2 and Y2 coordinates for the last relevant candle of the trend
Step 6 - Write the number in the yellow box down (in this case 880)
Step 7 - Open the settings of the indicator
Enter the number from the yellow box into the box titled "Run" - Press "OK"
Step 8 - Chart should/could now show Buy/Sell Signals for the Dojis and/or Bullish or Bearish Three Line Strikes
Notes
1. If your trendline is bearish (X1/Y1 is higher than X2/Y2) only bearish signals will appear and vice versa
2. You can change the ATR multiples from trendline in the settings - I prefer 2 (which is also the default)
3. You can toggle Big Engulfing and/or Three Line Strike on or off (exact functionality as per The Moving Average functionality)
4. You can construct the type of doji you would like to see at the bottom of the settings screen - I prefer the following settings:
Dominant Wick Multiple - 2
Recessive Wick Multiple - 2
Body Multiple - 5
5. I place my SL above last high (shorts) or last low (longs) but could also use the trendline for this
6. I use TP with RRR off 1:2 but much more is obviously possible.
7. ONLY ONE INTERACTIVE TRENDLINE CAN BE USED ON THE SAME CHART
8. THE NUMBER IN THE YELLOW BOX IS RELEVANT TO THE TIMEFRAME THAT THE TRENDLINE WAS CREATED ON. IF YOU CHANGE
TIMEFRAMES IT WILL NOT WORK
Happy to receive constructive criticism and/or suggestions for improvements on the settings.
Bollinger Bands Inside barthe indicator name is Bollinger Band inside bar because it uses Bollinger Band and inside bar to take counter-trend positions in the market. whenever this pattern is formed then it can be used to take an entry into the market. the candlestick pattern recognizes 3 candle candlestick. first the mother bar i.e. the medium to the big size candle that intersects with the upper and the lower levels of the Bollinger band. the second candle should be an inside bar i.e. the high and low of the current bar should be less than the previous bar. finally, the last bar who's low should be less than the mother bar in case of the mother bar is at upper levels and if the mother bar is at lower levels then the candle's high should be more than the mother bar. the stop-loss should be high and low of the mother bar respectively. entry should be taken as soon as the low and high of the mother bar is taken out respectively. target should be 1:1 or 20 sma or lower Bollinger band in case the entry is taken from the top. works best if there is a trend and the market takes a pullback and this pattern is formed.
VWAP + 2 Moving Averages + RSI + Buy and SellIndicator: VWAP + 2 Moving Averages + RSI + Buy and Sell
Buy and Sell Arrows (Great for use alone or in conjunction with other scripts on the chart)
This indicator displays BUY (BUY) and SELL (SELL) arrows on the chart based on a combination of moving averages, VWAP and RSI. Arrows are a visual way to identify trading opportunities and can be useful for traders who want to follow a strategy based on these conditions.
The indicator uses two moving averages (20 and 50 periods) to identify upward crosses (buy) and downward crosses (sell). In addition, it takes into account VWAP (Volume Weighted Average Price) and RSI (Relative Strength Index) as additional filters to confirm buy and sell signals.
This script is great for use both independently and in conjunction with other indicators and strategies. You can combine it with other indicators and customize it to your preferences to create a more comprehensive trading strategy.
Please remember that this indicator is provided for educational purposes only and does not constitute financial advice. It is always recommended to carry out a thorough analysis before making any trading decisions.
Give this indicator a try and enjoy clear visualization of buy and sell arrows on your chart. Happy trading!
Benner-Fibonacci Reversal Points [CC]This is an original script based on a very old idea called the Benner Theory from the Civil War times. Benner discovered a pattern in pig iron prices (no clue what those are), and this turned out to be a parallel idea to indicators based on Fibonacci numbers. Because a year is 365 days (nearly 377, which is a Fibonacci number), made up of 52 weeks (nearly 55, which is another Fibonacci number), or 12 months (nearly 13, which is another Fibonacci number), Benner theorized that he could find both past and future turning points in the market by using a pattern he found. He discovered that peaks in prices seemed to follow a pattern of 8-9-10, meaning that after a recent peak, it would be 8 bars until the next peak, 9 bars until after that peak for the next, and 10 bars until the following peak. For past peaks, he would just need to reverse this pattern, and so the previous peak would be 10 bars before the most current peak, 9 bars before that peak, and 8 bars before the previous one, and these patterns seemed to repeat. For troughs, he found a pattern of 16,18,20 which follows the same logic, and this idea also seemed to work on long-term peaks and troughs as well.
This is my version of the Benner theory and the major difference between my version and his is that he would manually select a year or date and either work backwards or forwards from that point. I chose to go with an adaptive version that will automatically detect those points and plot those past and future points. I have included several options such as allowing the algorithm to be calculated in reverse which seems to work well for Crypto for some reason. I also have both short and long term options to only show one or both if you choose and of course the option to enable repainting or leave it disabled.
Big thanks to @HeWhoMustNotBeNamed and @RicardoSantos for helping me fix some bugs in my code and for @kerpiciwuasile for suggesting this idea in the first place.
Inside candle (Inside Bar) Strategy- by smartanuThe Inside Candle strategy is a popular price action trading strategy that can be used to trade in a variety of markets. Here's how you can trade the Inside Candle strategy using the Pine script code provided:
1. Identify an Inside Candle: Look for a candlestick pattern where the current candle is completely engulfed within the previous candle's high and low. This is known as an Inside Candle.
2. Enter a Long Position: If an Inside Candle is identified, enter a long position at the open of the next candle using the Pine script code provided.
3. Set Stop Loss and Take Profit: Set a stop loss at a reasonable level to limit your potential losses if the trade goes against you. Set a take profit at a reasonable level to take profit when the price reaches the desired level.
4. Manage the Trade: Monitor the trade closely and adjust the stop loss and take profit levels if necessary. You can use the Pine script code to automatically exit the trade when the stop loss or take profit level is hit.
5. Exit the Trade: Exit the trade when the price reaches the take profit level or the stop loss level is hit.
It's important to note that the Inside Candle strategy is just one of many strategies that traders use to trade the markets. It's important to perform your own analysis and use additional indicators before making any trades. Additionally, it's important to practice proper risk management techniques and never risk more than you can afford to lose.
