Year-over-Year % Change for PCEPILFEHello, traders!
This indicator is specifically for FRED:PCEPILFE , which is a 'Personal Consumption Expenditures (PCE) Index excluding food and energy.'
What this indicator does is compare the monthly data to that of the same month last year to see how it has changed over the year. This comparison method is widely known as YoY(Year-over-Year).
While I made this indicator to use for FRED:PCEPILFE , you may use it for different charts as long as they show monthly data.
FRED:PCEPILFE is one of the main measures of inflation the Federal Reserve uses.
You can see the YoY % change of the PCE Index excluding food and energy in the official website for the Bureau of Labor Statistics, but unfortunately, I couldn't find one in TradingView.
So instead, I decided to make my own indicator showing the changes using FRED:PCEPILFE .
The code is very simple: it compares the data to the data 12 points ago because 12 points would mean 12 months in this chart. We then multiply the result by 100 for percentage.
Doing so, we compare the current month to the same month of the previous year.
Because I am only interested in the YoY % Change of the index, I pulled the indicator all the way up, covering the original chart data entirely. (Or you could achieve the same by simply moving your indicator to the pane above. But this way, the original chart data is also visible.)
I hope this indicator helps you with your analysis. Feel free to ask questions if have any!
God bless!
Educational
Compare Symbol [LuxmiAI]This indicator allows users to plot candles or bars for a selected symbol and add a moving average of their choice as an underlay. Users can customize the moving average type and length, making it versatile for a wide range of trading strategies.
This script is designed to offer flexibility, letting traders select the symbol, timeframe, candle style, and moving average type directly from the input options. The moving averages include the Exponential Moving Average (EMA), Simple Moving Average (SMA), Weighted Moving Average (WMA), and Volume-Weighted Moving Average (VWMA).
Features of the Script
This indicator provides the following key features:
1. Symbol Selection: Users can input the ticker symbol for which they want to plot the data.
2. Timeframe Selection: The script allows users to choose a timeframe for the symbol data.
3. Candle Styles: Users can select from three styles - regular candles, bars, or Heikin-Ashi candles.
4. Moving Average Options: Users can choose between EMA, SMA, WMA, and VWMA for added trend analysis.
5. Customizable Moving Average Length: The length of the moving average can be adjusted to suit individual trading strategies.
How the Script Works
The script starts by taking user inputs for the symbol and timeframe. It then retrieves the open, high, low, and close prices of the selected symbol and timeframe using the request.security function. Users can select between three candle styles: standard candles, bars, and Heikin-Ashi candles. If Heikin-Ashi candles are selected, the script calculates the Heikin-Ashi open, high, low, and close values.
To add further analysis capabilities, the script includes a moving average. Traders can select the moving average type from EMA, SMA, WMA, or VWMA and specify the desired length. The selected moving average is then plotted on the chart to provide a clear visualization of the trend.
Step-by-Step Implementation
1. Input Options: The script starts by taking inputs for the symbol, timeframe, candle style, moving average type, and length.
2. Data Retrieval: The script fetches OHLC data for the selected symbol and timeframe using request.security.
3. Candle Style Logic: It determines which candle style to plot based on the user’s selection. If Heikin-Ashi is selected, the script calculates Heikin-Ashi values.
4. Moving Average Calculation: Depending on the user’s choice, the script calculates the selected moving average.
5. Visualization: The script plots the candles or bars and overlays the moving average on the chart.
Benefits of Using This Indicator
This custom indicator provides multiple benefits for traders. It allows for quick comparisons between symbols and timeframes, helping traders identify trends and patterns. The flexibility to choose different candle styles and moving averages enhances its adaptability to various trading strategies. Additionally, the ability to customize the moving average length makes it suitable for both short-term and long-term analysis.
Session Bar/Candle ColoringChange the color of candles within a user-defined trading session. Borders and wicks can be changed as well, not just the body color.
PREFACE
This script can be used an educational resource for those who are interested in learning Pine Script. Therefore, the script is published open source and is organized in a manner that follows the recommended Style Guide .
While the main premise of the indicator is rather simple, the script showcases various things that can be achieved such as conditional plotting, alignment of indicator settings, user input validation, script optimization, and more. The script also has examples of taking into consideration the chart timeframe and/or different chart types (Heikin Ashi, Renko, etc.) that a user might be running it on. Note: for complete beginners, I strongly suggest going through the Pine Script User Manual (possibly more than once).
FEATURES
Besides being able to select a specific time window, the indicator also provides additional color settings for changing the background color or changing the colors of neutral/indecisive candles, as shown in the image below.
This allows for a higher level of customization beyond the TradingView chart settings or other similar scripts that are currently available.
HOW TO USE
First, define the intraday trading session that will contain the candles to modify. The session can be limited to specific days of the week.
Next, select the parts of the candles that should be modified: Body, Borders, Wick, and/or Background.
For each of the candle parts that were enabled, you can select the colors that will be used depending on whether a candle is bullish (⇧), bearish (⇩), or neutral (⇆).
All other indicator settings will have a detailed tooltip to describe its usage and/or effect.
LIMITATIONS
The indicator is not intended to function on Daily or higher timeframes due to the intraday nature of session time windows.
The indicator cannot always automatically detect the chart type being used, therefore the user is requested to manually input the chart type via the " Chart Style " setting.
Depending on the available historical data and the selected choice for the " Portion of bar in session " setting, the indicator may not be able to update very old candles on the chart.
EXAMPLE USAGE
This section will show examples of different scenarios that the indicator can be used for.
Emphasizing a main trading session.
Defining a "Pre/post market hours background" like is available for some symbols (e.g., NASDAQ:AAPL ).
Highlighting in which bar the midnight candle occurs.
Hiding indecision bars (neutral candles).
Showing only "Regular Trading Hours" for a chart that does not have the option to toggle ETH/RTH. To achieve this, the actual chart data is hidden, and only the indicator is visible; alternatively, a 2nd instance of the indicator could change colors to match the chart background.
Using a combination of Bars and Japanese Candlesticks. Alternatively, this could be done by hiding the main chart data and using 2 instances of the indicator (one with " Chart Style " setting as Bars , and the other set to Candles ).
Using a combination of thin and thick bars on Range charts. Note: requires disabling the "Thin Bars" setting for Bar charts in the TradingView chart settings.
NOTES
If using more than one instance of this indicator on the same chart, you can use the TradingView "Save Indicator Template" feature to avoid having to re-configure the multiple indicators at a later time.
This indicator is intended to work "out-of-the-box" thanks to the behind_chart option introduced to Pine Script in October 2024. But you can always manually bring the indicator to the front just in case the color changes are not being seen (using the "More" option in the indicator status line: More > Visual Order > Bring to front ).
Many thanks to fikira for their help and inspiring me to create open source scripts.
Any feedback including bug reports or suggestions for improving the indicator (or source code itself) are always welcome in the comments section.
Trend Force Meter | JeffreyTimmermansTrend Force Meter
The "Trend Force Meter" is an innovative trading tool designed to visualize trend strength and provide precise signals for identifying market dynamics. By combining the Hull Moving Average (HMA) with the Simple Moving Average (SMA), it delivers a comprehensive analysis of trend forces and directions. With customizable smoothing, low-pass filtering, and an advanced color-coded display, this indicator is a valuable addition to any trader's toolkit.
Overview
The Trend Force Meter uses a unique approach to trend analysis by calculating the difference between smoothed HMA and SMA values. This difference is normalized and converted into a visually intuitive gradient to represent bullish and bearish conditions. The indicator also incorporates features for noise reduction and enhanced visualization.
Key Features
Dual Moving Averages
Hull Moving Average (HMA): Provides a highly responsive measure of trend direction and strength.
Simple Moving Average (SMA): Offers a stable and reliable long-term trend baseline.
Customizable Smoothing
Enable/Disable Smoothing: Adjust the sensitivity of the HMA and SMA calculations.
Smoothing Length: Fine-tune the smoothing parameters to match your trading style, balancing between responsiveness and stability.
Low-Pass Filtering
Noise Reduction: Optional low-pass filter reduces market noise, providing clearer trend signals.
Filter Length: Adjustable parameter for fine control over the noise reduction level.
Gradient-Based Visualization
Dynamic Color Coding: Bullish trends are displayed in shades of green, while bearish trends appear in shades of red, providing immediate visual clarity.
Strength Meter: A gradient-based strength meter quantifies the intensity of the current trend, from weak to strong.
Trend Strength Normalization
Normalizes trend strength over a configurable period, ensuring consistent and meaningful readings across various market conditions.
Alerts
Bullish Trend Alert: Notifies when the trend transitions to a bullish phase.
Bearish Trend Alert : Signals when the trend turns bearish.
Enhanced Functionality
Trend Strength Gauge
Displays a real-time strength gauge that visualizes the trend intensity, allowing traders to assess the market at a glance.
Automatically adjusts to reflect normalized trend values, ensuring accuracy across different timeframes and volatility conditions.
Visual Gradient
A refined gradient coloring system dynamically adjusts based on trend direction and intensity, enabling traders to easily interpret market sentiment.
Advanced Customization
Length Settings: Fine-tune HMA and SMA lengths to match specific trading strategies.
Smoothing Options: Toggle smoothing and low-pass filtering on or off as needed.
Gradient Color Range: Provides flexible options for customizing the visual display.
Use Cases
Trend Analysis: Quickly identify the direction and strength of market trends to make informed trading decisions.
Momentum Confirmation : Use the gradient and strength meter to validate potential breakout or reversal scenarios.
Noise Reduction: Employ the low-pass filter to focus on meaningful trends while ignoring short-term market fluctuations.
How It Works
Calculate HMA and SMA: The indicator computes smoothed HMA and SMA values.
Difference Extraction: The difference between the smoothed HMA and SMA forms the core trend signal.
Optional Filtering: Low-pass filtering reduces noise, enhancing the clarity of trend signals.
Normalization: The difference is normalized over the selected period, ensuring consistent scaling.
Visualization: A color-coded gradient and trend strength gauge display the trend’s intensity and direction.
Customization Options
MA Lengths: Adjust the calculation periods for HMA and SMA.
Smoothing and Filtering: Enable or disable smoothing and filtering to refine the signal output.
Color Palette: Choose custom colors to align with personal preferences or trading environments.
Conclusion
The Trend Force Meter is an invaluable addition to any trader’s toolkit, combining cutting-edge techniques with intuitive visuals to make trend analysis more accessible and actionable. Its flexibility and precision cater to various trading strategies, ensuring traders stay ahead of market movements.
This script is inspired by "VanHels1ng" . However, it is more advanced and includes additional features and options.
-Jeffrey
QuantFrame | FractalystWhat’s the purpose of this indicator?
The purpose of QuantFrame is to provide traders with a systematic approach to analyzing market structure, eliminating subjectivity, and enhancing decision-making. By clearly identifying and labeling structural breaks, QuantFrame helps traders:
1. Refine Market Analysis: Transition from discretionary market observation to a structured framework.
2. Identify Key Levels: Highlight important liquidity and invalidation zones for potential entries, exits, and risk management.
3. Streamline Multi-Timeframe Analysis: Track market trends and structural changes across different timeframes seamlessly.
4. Enhance Consistency: Reduce guesswork by following a rule-based methodology for identifying structural breaks.
How Does This Indicator Identify Market Structure?
1. Swing Detection
• The indicator identifies key swing points on the chart. These are local highs or lows where the price reverses direction, forming the foundation of market structure.
2. Structural Break Validation
• A structural break is flagged when a candle closes above a previous swing high (bullish) or below a previous swing low (bearish).
• Break Confirmation Process:
To confirm the break, the indicator applies the following rules:
• Valid Swing Preceding the Break: There must be at least one valid swing point before the break.
3. Numeric Labeling
• Each confirmed structural break is assigned a unique numeric ID starting from 1.
• This helps traders track breaks sequentially and analyze how the market structure evolves over time.
4. Liquidity and Invalidation Zones
• For every confirmed structural break, the indicator highlights two critical zones:
1. Liquidity Zone (LIQ): Represents the structural liquidity level.
2. Invalidation Zone (INV): Acts as Invalidation point if the structure fails to hold.
What do the extremities show us on the charts?
When using QuantFrame for market structure analysis, the extremities—Liquidity Level (LIQ) and Invalidation Level (INV)—serve as critical reference points for understanding price behavior and making informed trading decisions.
Here's a detailed explanation of what these extremities represent and how they function:
Liquidity Level (LIQ)
Definition: The Liquidity Level is a key price zone where the market is likely to retest, consolidate, or seek liquidity. It represents areas where orders are concentrated, making it a high-probability reaction zone.
Purpose: Traders use this level to anticipate potential pullbacks or continuation patterns. It helps in identifying areas where price may pause or reverse temporarily due to the presence of significant liquidity.
Key Insight: If a candle closes above or below the LIQ, it results in another break of structure (BOS) in the same direction. This indicates that price is continuing its trend and has successfully absorbed liquidity at that level.
Invalidation Level (INV)
Definition: The Invalidation Level marks the threshold that, if breached, signifies a structural shift in the market. It acts as a critical point where the current market bias becomes invalid.
Purpose: This level is often used as a stop-loss or re-evaluation point for trading strategies. It ensures that traders have a clear boundary for risk management.
Key Insight: If a candle closes above or below the INV, it signals a shift in market structure:
A closure above the INV in a bearish trend indicates a shift from bearish to bullish bias.
A closure below the INV in a bullish trend indicates a shift from bullish to bearish bias.
What does the top table display?
The top table in QuantFrame serves as a multi-timeframe trend overview. Here’s what it provides:
1. Numeric Break IDs Across Multiple Timeframes:
• Each numeric break corresponds to a confirmed structural break on a specific timeframe, helping traders track the most recent breaks systematically.
2. Trend Direction via Text Color:
• The color of the text reflects the current trend direction:
• Blue indicates a bullish structure.
• Red signifies a bearish structure.
3. Higher Timeframe Insights Without Manual Switching:
• The table eliminates the need to switch between timeframes by presenting a consolidated view of the market trend across multiple timeframes, saving time and improving decision-making.
What is the Multi-Timeframe Trend Score (MTTS)?
MTTS is a score that quantifies trend strength and direction across multiple timeframes.
How does MTTS work?
1. Break Detection:
• Analyzes bullish and bearish structural breaks on each timeframe.
2. Trend Scoring:
• Scores each timeframe based on the frequency and quality of bullish/bearish breaks.
3. MTTS Calculation:
• Averages the scores across all timeframes to produce a unified trend strength value.
How is MTTS interpreted?
• ⬆ (Above 50): Indicates an overall bullish trend.
• ⬇ (Below 50): Suggests an overall bearish trend.
• ⇅ (Exactly 50): Represents a neutral or balanced market structure.
How to Use QuantFrame?
1. Implement a Systematic Market Structure Framework:
• Use QuantFrame to analyze market structure objectively by identifying key structural breaks and marking liquidity (LIQ) and invalidation (INV) zones.
• This eliminates guesswork and provides a clear framework for understanding market movements.
2. Leverage MTTS for Directional Bias:
• Refer to the MTTS table to identify the multi-timeframe directional bias, giving you the broader market context.
• Align your trading decisions with the overall trend or structure to improve accuracy and consistency.
3. Apply Your Preferred Entry Model:
• Once the market context is clear, use your preferred entry model to capitalize on the identified structure and trend.
• Manage trades dynamically as price delivers, using the provided liquidity and invalidation zones for risk management.
What Makes QuantFrame Original?
1. Objective Market Structure Analysis:
• Unlike subjective methods, QuantFrame uses a rule-based approach to identify structural breaks, ensuring consistency and reducing emotional decision-making.
2. Multi-Timeframe Integration:
• The MTTS table consolidates trend data across multiple timeframes, offering a bird’s-eye view of market trends without the need to switch charts manually.
• This unique feature allows traders to align strategies with higher-timeframe trends for more informed decision-making.
3. Liquidity and Invalidation Zones:
• Automatically marks Liquidity (LIQ) and Invalidation (INV) zones for every structural break, providing actionable levels for entries, exits, and risk management.
• These zones help traders define their risk-reward setups with precision.
4. Dynamic Trend Scoring (MTTS):
• The Multi-Timeframe Trend Score (MTTS) quantifies trend strength and direction across selected timeframes, offering a single, consolidated metric for market sentiment.
• This score is visualized with intuitive symbols (⬆, ⬇, ⇅) for quick decision-making.
5. Numeric Labeling of Breaks:
• Each structural break is assigned a unique numeric ID, making it easy to track, analyze, and backtest specific market scenarios.
6. Systematic Yet Flexible:
• While it provides a structured framework for market analysis, QuantFrame seamlessly integrates with any trading style. Traders can use it alongside their preferred entry models, adapting it to their unique strategies.
7. Enhanced Market Context:
• By combining structural insights with directional bias (via MTTS), the indicator equips traders with a complete market context, enabling them to make better-informed decisions.
Terms and Conditions | Disclaimer
Our charting tools are provided for informational and educational purposes only and should not be construed as financial, investment, or trading advice. They are not intended to forecast market movements or offer specific recommendations. Users should understand that past performance does not guarantee future results and should not base financial decisions solely on historical data.
Built-in components, features, and functionalities of our charting tools are the intellectual property of @Fractalyst use, reproduction, or distribution of these proprietary elements is prohibited.
By continuing to use our charting tools, the user acknowledges and accepts the Terms and Conditions outlined in this legal disclaimer and agrees to respect our intellectual property rights and comply with all applicable laws and regulations.
US Treasury Yields ROC1. Motivation and Context
The yield curve, which represents the relationship between bond yields and their maturities, plays a pivotal role in macroeconomic analysis and market forecasting. Changes in the slope or curvature of the yield curve are often indicative of investor expectations about economic growth, inflation, and monetary policy. For example:
• Steepening curves may indicate economic optimism and rising inflation expectations.
• Flattening curves are often associated with slower growth or impending recessions.
Analyzing these dynamics with quantitative tools such as the rate of change (ROC) enables traders and analysts to identify actionable patterns in the market. As highlighted by Gürkaynak, Sack, and Wright (2007), the term structure of interest rates embeds significant economic information, and understanding its movements is crucial for both policy makers and market participants.
2. Methodology
2.1 Input Parameters
The script takes the following key input:
• ROC Period (roc_length): Determines the number of bars over which the rate of change is calculated. This is an adjustable parameter (14 by default), allowing users to adapt the analysis to different timeframes.
2.2 Data Sources
The yields of the US Treasury securities for different maturities are fetched from TradingView using the request.security() function:
• 2-Year Yield (TVC:US02Y)
• 5-Year Yield (TVC:US05Y)
• 10-Year Yield (TVC:US10Y)
• 30-Year Yield (TVC:US30Y)
These yields are central to identifying trends in short-term versus long-term rates.
2.3 Visualization
Plots: The ROC values for each maturity are plotted in distinct colors for clarity:
• 2Y: Blue
• 5Y: Yellow
• 10Y: Green
• 30Y: Red
Background Highlight: The script uses color-coded backgrounds to visualize the identified curve regimes:
• Bull Steepener: Neon Green
• Bear Steepener: Bright Red
• Bull Flattener: Blue
• Bear Flattener: Orange
2.4 Zero Line
A horizontal zero line is included as a reference point, allowing users to easily identify transitions from negative to positive ROC values, which may signal shifts in the yield curve dynamics.
3. Implications for Financial Analysis
By automating the identification of yield curve dynamics, this script aids in:
• Macroeconomic Forecasting:
Steepeners and flatteners are associated with growth expectations and monetary policy changes. For instance, Bernanke and Blinder (1992) emphasize the predictive power of the yield curve for future economic activity.
• Trading Strategies:
Yield curve steepening or flattening can inform bond market strategies, such as long/short duration trades or curve positioning.
4. References
1. Bernanke, B. S., & Blinder, A. S. (1992). “The Federal Funds Rate and the Channels of Monetary Transmission.” American Economic Review, 82(4), 901–921.
2. Gürkaynak, R. S., Sack, B., & Wright, J. H. (2007). “The U.S. Treasury Yield Curve: 1961 to the Present.” Journal of Monetary Economics, 54(8), 2291–2304.
3. TradingView Documentation. “request.security Function.” Retrieved from TradingView.
Big Whale Finder (BWF)The Big Whale Finder (BWF) indicator is a technical analysis tool designed to detect large, hidden orders in financial markets. These orders, often placed by institutional traders or "whales," are significant in size but executed in a way that minimizes their impact on the market price.
This tool uses volume-based analysis to identify these orders, focusing on the detection of unusual volume spikes occurring in price regions where the market remains stagnant or shows minimal movement. The indicator aims to help traders identify potential areas of institutional activity, providing a strategic advantage by recognizing patterns of hidden liquidity.
Core Logic and Methodology
The BWF indicator combines two key factors to identify potential "whale" activity:
Volume Analysis: The first condition evaluates the volume relative to its average over a defined period. This is done by calculating the Simple Moving Average (SMA) of the volume and comparing current volume levels against this average. When the volume is significantly higher than the historical average, it signals the presence of a potentially large order.
Volume Threshold=Current Volume>(Average Volume×Threshold Factor)
Volume Threshold=Current Volume>(Average Volume×Threshold Factor)
According to market theory, large trades or "whale" activities often require substantial volumes to be executed. Identifying these anomalies can offer insights into the behavior of institutional players who seek to execute large transactions without disturbing the market (Lo, 2004).
Price Movement Analysis: The second condition considers the price change in relation to the volume. Specifically, if high volumes are detected but the price remains relatively stable, this suggests that large orders are being executed without significantly impacting the market price.
This phenomenon often occurs in "liquidity pools" or through algorithms designed to mask the true size of the orders. The indicator uses a price change threshold to identify this stagnation, with the condition that price movement remains below a certain percentage threshold.
Price Stagnation=(∣Close−Open∣Open)<Price Change Threshold
Price Stagnation=(Open∣Close−Open∣)<Price Change Threshold
This principle is aligned with research on market microstructure, which suggests that large institutional orders often attempt to hide their true size to avoid influencing the market (Hasbrouck, 1991).
Practical Use and Benefits
The Big Whale Finder (BWF) indicator is useful for identifying zones where large, potentially hidden orders are being executed. Traders often seek to detect these areas to better understand market dynamics and anticipate price movements. The benefits of using such an indicator include:
Increased Market Awareness: By identifying areas of high volume with minimal price movement, traders can spot potential "whale" activity that may indicate significant institutional involvement. These hidden large orders are not immediately visible in the market price, but their impact can become evident over time (Kyle, 1985).
Strategic Entry and Exit Points: Identifying areas with hidden liquidity can help traders make more informed decisions about where to enter or exit positions. A large institutional order may signal strong interest in a specific price level, and understanding this can guide strategic decisions regarding support and resistance levels.
Mitigating Price Impact: Knowing where these large orders are placed can also assist traders in avoiding price levels where they are more likely to face slippage. For instance, avoiding areas where whales are accumulating or distributing assets may help reduce the risk of unfavorable price movements.
Scientific Foundations and References
The underlying logic of this indicator draws heavily on established theories in market microstructure and behavioral finance, particularly the concept of hidden liquidity and information asymmetry. Market participants, especially institutional traders, frequently employ strategies to hide the true size of their orders to avoid influencing the market (Hasbrouck, 1991). These strategies include the use of dark pools, where large trades are executed privately and away from public view, and algorithmic trading systems that spread large orders across multiple price levels to minimize market impact (Lobel, 2012).
Research has shown that understanding these hidden liquidity dynamics can give traders a significant edge. For example, Hasbrouck (1991) emphasized that large, hidden orders may signal upcoming price trends, as they often precede significant market moves. Similarly, Lo (2004) highlighted that institutional traders' strategies to hide orders are a critical factor in market behavior, suggesting that the ability to detect these activities could enhance trading strategies.
Conclusion
The Big Wale Finder (BWF) indicator provides a powerful tool for identifying areas where large orders are being executed without significantly impacting the price. By analyzing volume and price stagnation, it helps traders uncover hidden liquidity, which is critical for anticipating potential price movements. This indicator's effectiveness lies in its ability to detect "whale" activity, offering traders insights into the actions of institutional market participants. Understanding and leveraging these insights can provide a strategic advantage in the highly competitive and information-rich landscape of financial markets.
References
Hasbrouck, J. (1991). Measuring the Information Content of Stock Trades. Journal of Finance, 46(1), 179-207.
Kyle, A. S. (1985). Continuous Auctions and Insider Trading. Econometrica, 53(6), 1315-1335.
Lo, A. W. (2004). The Adaptive Markets Hypothesis: Market Efficiency from an Evolutionary Perspective. Journal of Portfolio Management, 30(5), 15-29.
Lobel, S. (2012). Dark Pools, Price Discovery, and Market Liquidity. The Journal of Trading, 7(1), 35-42.
Improved Trend Shot | JeffreyTimmermansImproved Trend Shot
The "Improved Trend Shot" is an advanced trend-following tool that integrates cutting-edge features and the principles of John Ehlers’ SuperSmoother Filter to provide traders with more accurate trend detection and better decision-making. This enhanced version includes multiple smoothing types, customizable lengths, dynamic alerts, and a comprehensive dashboard to help traders quickly interpret market conditions.
This script is inspired by "TRW" . However, it is more advanced and includes additional features and options.
Key Features and Improvements
Smoothed Lines and Trend Detection
The core of the Improved Smooth Trend Shot relies on three key lines to capture market momentum:
Fast Line: Highly sensitive to short-term price changes, offering rapid responsiveness to market movements.
Middle Line: Provides a medium-term view of market trends, acting as a more stable reference.
Slow Line: Focuses on long-term trends, offering a broader perspective on market direction.
These three smoothed lines interact dynamically to create a visual color-coded cloud that helps traders easily interpret market conditions:
Green Cloud: Indicates an upward trend when the Fast line is above the Slow line.
Red Cloud: Signals a downward trend when the Fast line is below the Slow line.
The cloud color adjusts based on the relative positioning of the Fast, Middle, and Slow lines, helping traders to identify bullish or bearish trends with ease.
Dynamic Cloud Visualization and Alerts
The cloud and trend lines adapt to market conditions, updating in real-time to reflect changes in trend strength and momentum. Traders can also set up real-time alerts to notify them of important trend shifts, such as:
Fast and Slow Crossovers: Alerts when the Fast line crosses the Slow line.
Middle and Slow Crossovers: Alerts when the Middle line crosses the Slow line.
This makes it easier to capture trading opportunities and respond promptly to market changes.
Enhanced Smoothing Options
Traders can now choose from multiple smoothing types, including:
EMA (Exponential Moving Average)
SMA (Simple Moving Average)
DEMA (Double Exponential Moving Average)
WMA (Weighted Moving Average)
Each smoothing type has different properties, allowing traders to select the best fit for their trading style. The smoothing length can also be customized, offering flexibility in fine-tuning how sensitive or stable the trend lines should be.
Improved Signal Logic and Precision
The signal logic has been optimized for better precision. Now, the system provides more accurate buy and sell alerts based on:
Trend Detection: The color-coded cloud and the relative positions of the Fast, Middle, and Slow lines help visualize whether the trend is bullish or bearish.
Rising and Falling Indicators: The indicator also checks if each line is rising or falling over the last three bars, offering early signals of momentum shifts.
Dashboard Insights
The dashboard provides real-time updates on the positions and movements of the smoothed lines:
Line Positions: Displays the positions of the Fast, Middle, and Slow lines.
Trend Direction: Shows whether each line is rising or falling.
Price Levels: Displays the price levels for each of the smoothed lines, offering clear reference points for market evaluation.
These features help traders better understand the state of the market, offering valuable insights for both trend-following and reversal-based strategies.
Crossovers and Signal Triggers
The Improved Smooth Trend Shot focuses on crossovers between the different smoothed lines as primary trading signals. There are two types of crossovers:
Fast Shots: This occurs when the Fast line crosses the Slow line.
Slow Shots: This occurs when the Middle line crosses the Slow line.
These crossovers serve as key entry or exit points for traders, helping them spot potential trend reversals. The improved logic ensures that crossovers are accurately detected, reducing the chances of false signals.
Customization Options
The Improved Smooth Trend Shot offers a high degree of customization:
Smoothing Length: Adjust the smoothing period to balance between fast responses and stable trends.
Source Selection: Default to the average of high and low prices (hl2), or choose other price sources.
Smoothing Type: Select from EMA, SMA, DEMA, or WMA for personalized trend analysis.
Signal Type: Choose between Fast Shots or Slow Shots based on the type of crossover you want to focus on.
Long, Medium, and Short-Term Applications
Although the default settings are optimized for long-term trend analysis, the Improved Smooth Trend Shot is highly adaptable. By adjusting the smoothing length and selecting different smoothing types, traders can use the tool for:
Short-Term Trading: Focus on fast responses to market shifts using shorter smoothing periods.
Medium-Term Trading: Tailor the settings to capture intermediate trends.
Long-Term Trend Analysis: Use longer smoothing periods for a more stable and comprehensive view of market dynamics.
Advanced ATR Filtering and Alerts
The inclusion of ATR (Average True Range) filtering helps ensure that signals are triggered only when significant price movements occur. This helps reduce noise and false signals, ensuring traders only act on meaningful market shifts.
Conclusion
The Improved Smooth Trend Shot is a powerful and versatile tool that enhances the original SuperSmoother Filter with advanced features like customizable smoothing options, real-time alerts, and an intuitive dashboard. Whether you're a day trader, swing trader, or long-term investor, this enhanced indicator provides a comprehensive and actionable view of market trends.
The combination of enhanced signal accuracy, dynamic trend visualization, and in-depth customization ensures that the Improved Smooth Trend Shot is an indispensable tool for traders across all market conditions.
-Jeffrey
Drawdown Tracker [SpokoStocks]Drawdown Tracker
The Drawdown Tracker is a powerful tool designed to help traders monitor and visualize the drawdown of symbol. By tracking both current and maximum drawdown levels, this indicator provides valuable insights into risk and potential capital preservation.
Features:
> Current Drawdown:
The current drawdown is calculated as the percentage drop from the record high to the current low, providing a real-time view of the loss from the peak.
> Maximum Drawdown:
The maximum drawdown represents the deepest drop observed from any peak in the historical data, giving an understanding of the worst-case scenario for losses.
> You can choose between two modes:
Full History: Tracks the maximum drawdown from the entire available data.
Rolling Period: Tracks the maximum drawdown within a defined rolling period (default 50 bars), allowing for a shorter-term risk assessment.
> Customizable Rolling Period:
You can adjust the rolling period length through the Rolling Period Length input to reflect different time frames for drawdown calculations.
> Warning Level:
A customizable warning level (default -65%) is plotted on the chart. This acts as a threshold to alert users when the drawdown crosses into a potentially concerning territory.
> Gradient Color Visualization:
The current drawdown is visualized using a gradient color, transitioning from red to yellow as the drawdown increases from -100% to 0%, providing an easy-to-interpret view of the severity of the drawdown.
> New Max Drawdown Marker:
Whenever a new maximum drawdown is recorded, a triangle marker is displayed at the bottom of the chart, along with a label showing the drawdown percentage. This provides clear visual confirmation when a new historical low is reached.
> Alerts:
Warning Level Breach Alert: Alerts you when the drawdown breaches the warning level you’ve set, helping you stay aware of significant risk events.
New Max Drawdown Alert: Triggers when a new maximum drawdown is recorded, allowing you to act quickly if necessary.
Use Cases:
Risk Management: Keep track of how much an asset is down from the peak, helping you make informed decisions about risk and drawdown tolerances.
Risk Disclaimer:
The information provided by this script is for educational and informational purposes only. It is not intended as financial advice and should not be construed as such. All trading and investment activities involve a high level of risk and may result in the loss of capital. The user is solely responsible for any decisions made based on the content provided by this script.
By using this script, you acknowledge and agree that you use it at your own risk. The creator of this script makes no warranties regarding the accuracy, completeness, or reliability of the information, and disclaims any responsibility for any losses or damages arising from its use.
Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
MMXM ICT [TradingFinder] Market Maker Model PO3 CHoCH/CSID + FVG🔵 Introduction
The MMXM Smart Money Reversal leverages key metrics such as SMT Divergence, Liquidity Sweep, HTF PD Array, Market Structure Shift (MSS) or (ChoCh), CISD, and Fair Value Gap (FVG) to identify critical turning points in the market. Designed for traders aiming to analyze the behavior of major market participants, this setup pinpoints strategic areas for making informed trading decisions.
The document introduces the MMXM model, a trading strategy that identifies market maker activity to predict price movements. The model operates across five distinct stages: original consolidation, price run, smart money reversal, accumulation/distribution, and completion. This systematic approach allows traders to differentiate between buyside and sellside curves, offering a structured framework for interpreting price action.
Market makers play a pivotal role in facilitating these movements by bridging liquidity gaps. They continuously quote bid (buy) and ask (sell) prices for assets, ensuring smooth trading conditions.
By maintaining liquidity, market makers prevent scenarios where buyers are left without sellers and vice versa, making their activity a cornerstone of the MMXM strategy.
SMT Divergence serves as the first signal of a potential trend reversal, arising from discrepancies between the movements of related assets or indices. This divergence is detected when two or more highly correlated assets or indices move in opposite directions, signaling a likely shift in market trends.
Liquidity Sweep occurs when the market targets liquidity in specific zones through false price movements. This process allows major market participants to execute their orders efficiently by collecting the necessary liquidity to enter or exit positions.
The HTF PD Array refers to premium and discount zones on higher timeframes. These zones highlight price levels where the market is in a premium (ideal for selling) or discount (ideal for buying). These areas are identified based on higher timeframe market behavior and guide traders toward lucrative opportunities.
Market Structure Shift (MSS), also referred to as ChoCh, indicates a change in market structure, often marked by breaking key support or resistance levels. This shift confirms the directional movement of the market, signaling the start of a new trend.
CISD (Change in State of Delivery) reflects a transition in price delivery mechanisms. Typically occurring after MSS, CISD confirms the continuation of price movement in the new direction.
Fair Value Gap (FVG) represents zones where price imbalance exists between buyers and sellers. These gaps often act as price targets for filling, offering traders opportunities for entry or exit.
By combining all these metrics, the Smart Money Reversal provides a comprehensive tool for analyzing market behavior and identifying key trading opportunities. It enables traders to anticipate the actions of major players and align their strategies accordingly.
MMBM :
MMSM :
🔵 How to Use
The Smart Money Reversal operates in two primary states: MMBM (Market Maker Buy Model) and MMSM (Market Maker Sell Model). Each state highlights critical structural changes in market trends, focusing on liquidity behavior and price reactions at key levels to offer precise and effective trading opportunities.
The MMXM model expands on this by identifying five distinct stages of market behavior: original consolidation, price run, smart money reversal, accumulation/distribution, and completion. These stages provide traders with a detailed roadmap for interpreting price action and anticipating market maker activity.
🟣 Market Maker Buy Model
In the MMBM state, the market transitions from a bearish trend to a bullish trend. Initially, SMT Divergence between related assets or indices reveals weaknesses in the bearish trend. Subsequently, a Liquidity Sweep collects liquidity from lower levels through false breakouts.
After this, the price reacts to discount zones identified in the HTF PD Array, where major market participants often execute buy orders. The market confirms the bullish trend with a Market Structure Shift (MSS) and a change in price delivery state (CISD). During this phase, an FVG emerges as a key trading opportunity. Traders can open long positions upon a pullback to this FVG zone, capitalizing on the bullish continuation.
🟣 Market Maker Sell Model
In the MMSM state, the market shifts from a bullish trend to a bearish trend. Here, SMT Divergence highlights weaknesses in the bullish trend. A Liquidity Sweep then gathers liquidity from higher levels.
The price reacts to premium zones identified in the HTF PD Array, where major sellers enter the market and reverse the price direction. A Market Structure Shift (MSS) and a change in delivery state (CISD) confirm the bearish trend. The FVG then acts as a target for the price. Traders can initiate short positions upon a pullback to this FVG zone, profiting from the bearish continuation.
Market makers actively bridge liquidity gaps throughout these stages, quoting continuous bid and ask prices for assets. This ensures that trades are executed seamlessly, even during periods of low market participation, and supports the structured progression of the MMXM model.
The price’s reaction to FVG zones in both states provides traders with opportunities to reduce risk and enhance precision. These pullbacks to FVG zones not only represent optimal entry points but also create avenues for maximizing returns with minimal risk.
🔵 Settings
Higher TimeFrame PD Array : Selects the timeframe for identifying premium/discount arrays on higher timeframes.
PD Array Period : Specifies the number of candles for identifying key swing points.
ATR Coefficient Threshold : Defines the threshold for acceptable volatility based on ATR.
Max Swing Back Method : Choose between analyzing all swings ("All") or a fixed number ("Custom").
Max Swing Back : Sets the maximum number of candles to consider for swing analysis (if "Custom" is selected).
Second Symbol for SMT : Specifies the second asset or index for detecting SMT divergence.
SMT Fractal Periods : Sets the number of candles required to identify SMT fractals.
FVG Validity Period : Defines the validity duration for FVG zones.
MSS Validity Period : Sets the validity duration for MSS zones.
FVG Filter : Activates filtering for FVG zones based on width.
FVG Filter Type : Selects the filtering level from "Very Aggressive" to "Very Defensive."
Mitigation Level FVG : Determines the level within the FVG zone (proximal, 50%, or distal) that price reacts to.
Demand FVG : Enables the display of demand FVG zones.
Supply FVG : Enables the display of supply FVG zones.
Zone Colors : Allows customization of colors for demand and supply FVG zones.
Bottom Line & Label : Enables or disables the SMT divergence line and label from the bottom.
Top Line & Label : Enables or disables the SMT divergence line and label from the top.
Show All HTF Levels : Displays all premium/discount levels on higher timeframes.
High/Low Levels : Activates the display of high/low levels.
Color Options : Customizes the colors for high/low lines and labels.
Show All MSS Levels : Enables display of all MSS zones.
High/Low MSS Levels : Activates the display of high/low MSS levels.
Color Options : Customizes the colors for MSS lines and labels.
🔵 Conclusion
The Smart Money Reversal model represents one of the most advanced tools for technical analysis, enabling traders to identify critical market turning points. By leveraging metrics such as SMT Divergence, Liquidity Sweep, HTF PD Array, MSS, CISD, and FVG, traders can predict future price movements with precision.
The price’s interaction with key zones such as PD Array and FVG, combined with pullbacks to imbalance areas, offers exceptional opportunities with favorable risk-to-reward ratios. This approach empowers traders to analyze the behavior of major market participants and adopt professional strategies for entry and exit.
By employing this analytical framework, traders can reduce errors, make more informed decisions, and capitalize on profitable opportunities. The Smart Money Reversal focuses on liquidity behavior and structural changes, making it an indispensable tool for financial market success.
Stop Loss & Take Profit LevelsCalculate and Plot Stop Loss (SL) Levels:
The indicator calculates the Stop Loss price level based on the account balance, risk percentage, and the trade's entry price.
For long positions, the SL is below the entry price.
For short positions, the SL is above the entry price.
Calculate and Plot Take Profit (TP) Levels:
The indicator calculates up to three Take Profit (TP) levels, each based on different Risk/Reward (R:R) ratios.
The R:R ratio determines how much reward (profit) you aim to achieve relative to the risk (the distance between the entry price and the stop loss).
These TP levels are plotted on the chart as lines above the entry price for long positions or below the entry price for short positions.
Manual Entry Price:
The user can input a manual entry price to simulate trades or plan trades before entering the market. This makes it useful for pre-trade analysis.
Dynamic Position Type:
Users can toggle between Long or Short positions:
Long Position: The trader expects the price to go up.
Short Position: The trader expects the price to go down.
The indicator adapts its calculations (SL and TP levels) based on the selected position type.
Risk Calculation Based on Account Balance:
The indicator calculates the amount of capital at risk (in €) based on the trader's account balance and the selected risk percentage.
For example:
If the account balance is €1,000 and the Stop Loss percentage is 1%, the risk amount is €10.
Visual Representation on the Chart:
The following levels are plotted on the chart:
Stop Loss Level (Red Line): The price level at which the trader would exit the trade to limit losses.
Take Profit Levels (Green Lines): Up to three price levels where the trader could take profits based on R:R ratios.
Entry Price (Blue Line): The price level where the trade begins.
These lines are dynamically updated as inputs are changed, providing instant feedback to the trader.
6 Band Parametric EQThis indicator implements a complete parametric equalizer on any data source using high-pass and low-pass filters, high and low shelving filters, and six fully configurable bell filters. Each filter stage features standard audio DSP controls including frequency, Q factor, and gain where applicable. While parametric EQ is typically used for audio processing, this implementation raises questions about the nature of filtering in technical analysis. Why stop at simple moving averages when you can shape your signal's frequency response with surgical precision? The answer may reveal more about our assumptions than our indicators.
Filter Types and Parameters
High-Pass Filter:
A high-pass filter attenuates frequency components below its cutoff frequency while passing higher frequencies. The Q parameter controls resonance at the cutoff point, with higher values creating more pronounced peaks.
Low-Pass Filter:
The low-pass filter does the opposite - it attenuates frequencies above the cutoff while passing lower frequencies. Like the high-pass, its Q parameter affects the resonance at the cutoff frequency.
High/Low Shelf Filters:
Shelf filters boost or cut all frequencies above (high shelf) or below (low shelf) the target frequency. The slope parameter determines the steepness of the transition around the target frequency , with a value of 1.0 creating a gentle slope and lower values making the transition more abrupt. The gain parameter sets the amount of boost or cut in decibels.
Bell Filters:
Bell (or peaking) filters create a boost or cut centered around a specific frequency. A bell filter's frequency parameter determines the center point of the effect, while Q controls the width of the affected frequency range - higher Q values create a narrower bandwidth. The gain parameter defines the amount of boost or cut in decibels.
All filters run in series, processing the signal in this order: high-pass → low shelf → bell filters → high shelf → low-pass. Each stage can be independently enabled or bypassed.
The frequency parameter for all filters represents the period length of the targeted frequency component. Lower values target higher frequencies and vice versa. All gain values are in decibels, where positive values boost and negative values cut.
The 6-Band Parametric EQ combines these filters into a comprehensive frequency shaping tool. Just as audio engineers use parametric EQs to sculpt sound, this indicator lets you shape market data's frequency components with surgical precision. But beyond its technical implementation, this indicator serves as a thought experiment about the nature of filtering in technical analysis. While traditional indicators often rely on simple moving averages or single-frequency filters, the parametric EQ takes this concept to its logical extreme - offering complete control over the frequency domain of price action. Whether this level of filtering precision is useful for analysis is perhaps less important than what it reveals about our assumptions regarding market data and its frequency components.
Weekly Trading StrategyStrategy Overview:
This trading strategy is designed for short-term trades over weekly intervals, utilizing the combination of Simple Moving Averages (SMA) for trend identification and the Relative Strength Index (RSI) for overbought/oversold conditions. It aims to capitalize on momentum shifts while mitigating the risk of entering a market at extreme points.
Key Components:
Fast SMA (9 periods): Acts as a short-term trend indicator, providing insights into quick price changes.
Slow SMA (21 periods): Represents a longer-term trend, smoothing out price fluctuations to show a more stable trend line.
RSI (14 periods): An oscillator that measures the speed and change of price movements, helping to identify potential reversal points.
Entry Signals:
Buy Signal:
Condition 1: The fast SMA (9 periods) crosses above the slow SMA (21 periods), indicating a potential upward trend shift.
Condition 2: RSI falls below 30, suggesting the asset is potentially oversold and due for a correction upwards.
Sell Signal:
Condition 1: The fast SMA crosses below the slow SMA, signaling a possible downward trend shift.
Condition 2: RSI climbs above 70, indicating the asset might be overbought and could pull back.
Strategy Execution:
Timeframe: This strategy is optimized for a weekly chart (W), where each bar or candle represents one week of trading data.
Alert System: Alerts can be set up for buy and sell signals, allowing traders to react promptly to market conditions without constant chart monitoring.
Risk Management:
This strategy includes inherent risk management by avoiding trades when the market shows extreme conditions via RSI. However, traders should also consider:
Position sizing based on account size and risk tolerance.
Setting stop-loss orders to manage potential losses if the market moves against the position.
Considering additional market analysis or indicators for confirmation before executing trades.
Considerations:
Backtesting: Before live trading, backtest the strategy on historical data to assess performance across different market conditions.
Adaptation: Market dynamics change, so periodic review and adjustment of SMA periods and RSI thresholds might be necessary.
Complementary Analysis: Enhance this strategy with fundamental analysis or other technical indicators for a more robust trading approach.
This strategy is suited for traders looking for weekly swings in the market, balancing between following the trend and spotting potential reversals. However, like all trading strategies, it should not be used in isolation but as part of a broader trading plan.
Candle Spread Oscillator (CS0)The Candle Spread Oscillator (CSO) is a custom technical indicator designed to help traders identify momentum and directional strength in the market by analyzing the relationship between the candle body spread and the total candle range. This oscillator provides traders with a visually intuitive representation of price action dynamics and highlights key transitions between positive and negative momentum.
How It Works:
Body Spread vs. Total Range:
The CSO calculates the body spread (difference between the close and open price) and compares it to the total range (difference between the high and low price) of a candle.
The ratio of the body spread to the total range represents the proportion of price movement driven by directional momentum.
Smoothed Oscillator:
To remove noise and enhance clarity, the ratio is smoothed using a Hull Moving Average (HMA). The smoothing period can be adjusted through the "Smoothing Period" input, enabling traders to tailor the indicator to their preferred timeframes or strategies.
Gradient Visualization:
A gradient coloring is applied to the oscillator, transitioning smoothly between colors (e.g., fuchsia for negative momentum and aqua for positive momentum). This provides traders with a clear, intuitive visual cue of market behavior.
Visual Features:
Oscillator Plot:
The oscillator is displayed as an area-style plot, dynamically colored using a gradient. Positive values are represented in shades of aqua, while negative values are in shades of fuchsia.
Midline (0 Level):
A horizontal midline is plotted at the zero level, serving as a key reference point for identifying transitions between positive and negative momentum.
Background Highlights:
The chart background is subtly colored to match the oscillator's state, enhancing the visual emphasis on current momentum conditions.
Alerts for Key Crossovers:
The CSO comes with built-in alert conditions, making it highly actionable for traders:
Cross Up Alert: Triggers when the oscillator crosses above the midline (0), signaling a potential shift into positive momentum.
Cross Down Alert: Triggers when the oscillator crosses below the midline (0), indicating a potential transition into negative momentum.
These alerts allow traders to stay informed about critical market shifts without constantly monitoring the chart.
How to Use:
Trend Identification:
When the oscillator is above the midline and positive, it indicates that price action is moving with bullish momentum.
When the oscillator is below the midline and negative, it reflects bearish momentum.
Momentum Strength:
The magnitude of the oscillator (its distance from the midline) helps traders gauge the strength of the momentum. Stronger moves will push the oscillator further from zero.
Potential Reversals:
Crossovers of the oscillator through the midline can signal potential reversals or shifts in market direction.
Customization:
Adjust the Smoothing Period to adapt the sensitivity of the oscillator to different timeframes. A lower smoothing period reacts faster to price changes, while a higher smoothing period smooths out noise.
Best Use Cases:
Momentum Trading: Identify periods of sustained bullish or bearish momentum to align with the trend.
Reversal Signals: Spot transitions in market direction when the oscillator crosses the midline.
Confirmation Tool: Use the CSO alongside other indicators (e.g., volume, trendlines, or moving averages) to confirm trading signals.
Key Inputs:
Smoothing Period: Customize the sensitivity of the oscillator by adjusting the lookback period for the Hull Moving Average.
Gradient Range: The color gradient transitions between defined thresholds (-0.1 to 0.2 by default), ensuring a smooth visual experience.
[Why Use the Candle Spread Oscillator?
The CSO is a simple yet powerful tool for traders who want to:
Gain a deeper understanding of price momentum.
Quickly visualize shifts between bullish and bearish trends.
Use clear, actionable signals with customizable alerts.
Disclaimer: This indicator is not a standalone trading strategy. It should be used in combination with other technical and fundamental analysis tools. Always trade responsibly, and consult a financial advisor for personalized advice.
Improved SF Oscillator | JeffreyTimmermansImproved SF Oscillator
The "Improved SF Oscillator" is an advanced and versatile technical indicator designed to transform any moving average (MA) into a dynamic oscillator. This cutting-edge tool incorporates up to 13 different moving average types, including specialized indicators like Kaufman’s Adaptive Moving Average (KAMA), Tillson's Exponential Moving Average (T3), and the Arnaud Legoux Moving Average (ALMA). The oscillator offers traders a powerful tool for both trend-following and mean reversion strategies, significantly enhancing their ability to analyze market movements, identify potential entry and exit points, and make informed trading decisions.
This script is inspired by "EliCobra" . However, it is more advanced and includes additional features and options.
Core Functionality and Methodology
The Improved SF Oscillator leverages user-defined parameters to calculate the selected moving average type. Key inputs, such as the length of the MA and smoothing factors, offer traders extensive customization. Additionally, the indicator utilizes a unique process of deriving both the mean and standard deviation of the moving average over a defined normalization period. This method is crucial for normalizing the moving average and standardizing its behavior. The final step in this calculation involves deriving the Z-Score, which is computed by subtracting the moving average's mean from its current value and then dividing the result by the standard deviation.
This normalization allows the oscillator to display a standardized value that highlights the relative position of the moving average, offering a clear view of market volatility and potential trend shifts. By incorporating this statistical approach, the Improved SF Oscillator helps traders assess price behavior in relation to its typical fluctuations, providing vital insight into whether the price is overbought, oversold, or near a turning point.
The Moving Average Types
One of the standout features of the Improved SF Oscillator is its support for a wide variety of moving average types. Each MA type has its own unique methodology and behavior, allowing traders to choose the best fit for their trading strategy:
KAMA (Kaufman’s Adaptive Moving Average):
KAMA is designed to adapt its smoothing period dynamically based on market volatility. When market conditions are more volatile, KAMA responds quickly, while during calmer periods, it smooths price action more effectively. This characteristic allows KAMA to capture trends with minimal noise, providing traders with a smoother and more adaptive moving average.
T3 (Tillson's Exponential Moving Average):
The T3 MA is a refined version of the traditional EMA. By applying additional smoothing to the moving average, it significantly reduces lag and increases responsiveness. This allows traders to capture trends more accurately while maintaining the benefit of smooth price tracking.
ALMA (Arnaud Legoux Moving Average):
ALMA combines both linear regression and exponential smoothing techniques. Its unique formula allows for reduced lag and noise, providing a smoother representation of price trends. ALMA is particularly useful in detecting trend changes and is highly favored for its precision and ability to identify entry and exit points with minimal delay.
Z-Score and Normalization
The Z-Score is central to the functionality of the Improved SF Oscillator. By calculating the standard deviation and mean of the moving average over a defined period, the Z-Score standardizes the values of the MA. This transformation allows traders to assess the relative position of price in terms of how far it deviates from its mean, taking market volatility into account.
The Z-Score provides the following key benefits:
Overbought/Oversold Conditions: By assessing the Z-Score, traders can identify whether the price is approaching overbought or oversold conditions. Extreme positive or negative Z-Score values indicate potential reversals.
Volatility Adjustments: The Z-Score allows traders to understand market volatility in a normalized way, facilitating more accurate readings of price movements in relation to their typical behavior.
Enhanced Utility and Features
The Improved SF Oscillator is built for use in both trend-following and mean-reversion strategies. Traders can analyze the position of the oscillator relative to its midline to confirm trends. The oscillator’s deviation from the midline can indicate potential reversals, while extreme values can serve as signals for mean-reversion trades.
Additional features include:
Custom Alerts: The Improved SF Oscillator comes with real-time alerts for significant events such as trend reversals or when the oscillator crosses important thresholds. Traders can set alerts for when the oscillator exceeds a specified Z-Score, signaling overbought or oversold conditions.
Reversal Bubbles: To further aid in identifying turning points, the oscillator provides visually distinctive bubbles on the chart that highlight potential reversal points. These bubbles mark instances when the oscillator reaches an extreme value and then begins to reverse, offering valuable signals for potential entry or exit points.
Bar Coloring Options: The oscillator features a variety of bar coloring options, including:
Trend (Midline Cross): Bar colors change when the oscillator crosses its midline, signaling potential shifts in market momentum.
Extremities: Bars are colored based on extreme values, helping traders quickly identify periods of high volatility or potential trend reversals.
Reversions: Bar colors change when reversal conditions are met, such as when the oscillator shows signs of turning from overbought to oversold or vice versa.
Slope: Bars are colored based on the slope of the oscillator, providing insights into the underlying momentum of the market.
Recent Improvements and Features
After its initial release, the Improved SF Oscillator underwent several significant updates aimed at enhancing its usability and providing traders with more advanced tools:
Reversal Point Alerts: The addition of alerts for potential reversal points adds a crucial layer of functionality. These alerts notify traders in real time when the oscillator signals an overbought or oversold condition, or when it reaches a reversal point that could mark a shift in market direction.
Dashboard Integration: A dashboard feature was introduced to provide an overview of the oscillator’s readings. This allows traders to quickly assess the market conditions and oscillator behavior across multiple timeframes or instruments, ensuring that they are always aware of potential opportunities or risks.
Visual Enhancements: Several visual improvements were made to the bar coloring system, making it easier for traders to quickly interpret market conditions at a glance. The addition of customized bar color schemes for trends, extremes, and slopes helps traders make faster decisions based on clear visual cues.
Revised Inputs and Customization: The user interface was improved to offer more flexibility in customizing the indicator’s inputs. Traders can now fine-tune the oscillator's behavior to match their trading style, adjusting factors such as the length of the moving average, the type of smoothing, and the threshold values for overbought and oversold conditions.
Use Cases and Practical Application
The Improved SF Oscillator is ideal for a wide range of trading strategies, from long-term trend-following techniques to short-term mean-reversion approaches. Here are some practical use cases:
Trend Confirmation: Traders can use the oscillator to confirm existing trends. When the oscillator is above the midline and moving upward, it may confirm a bullish trend. Similarly, a downward slope below the midline may indicate a bearish trend.
Mean Reversion Trading: By observing the oscillator’s movement beyond certain Z-Score thresholds, traders can identify potential mean-reversion opportunities. Extreme readings above or below the midline signal that price may be ready to revert to its average.
Reversal Detection: The reversal bubbles and alerts provide early warnings of potential trend reversals, making the Improved SF Oscillator an effective tool for spotting turning points before they fully manifest.
Volatility Assessment: The Z-Score and different MA types allow traders to assess market volatility, adjusting their trading approach based on the current market conditions. For instance, during periods of low volatility, slower MAs like KAMA may be more suitable, while during high volatility, faster MAs like T3 or ALMA can offer more responsiveness.
Key Features Recap
13 moving average types to suit different market conditions and trading strategies.
Z-Score normalization for accurate assessments of market volatility and overbought/oversold conditions.
Alerts for reversal points, extreme Z-Score values, and trend changes.
Dashboard to monitor oscillator values and conditions across timeframes and instruments.
Reversal point bubbles to visually highlight potential turning points.
Customizable bar coloring for trend, extremity, reversal, and slope visualization.
The Improved SF Oscillator offers a comprehensive, flexible, and user-friendly tool for traders looking to enhance their analysis and make better-informed decisions in a constantly evolving market. Whether used for trend-following, mean-reversion, or volatility analysis, this indicator is designed to provide valuable insights that can help traders navigate even the most challenging market conditions.
-Jeffrey
General Ehlers Oscillator | JeffreyTimmermansGeneral Ehlers Oscillator
The "General Ehlers Oscillator" is a powerful, technical indicator designed to provide traders with precise insights into market trends, reversals, and momentum. Built upon Dr. John Ehlers' innovative methodologies, this tool leverages advanced signal processing techniques to deliver near-zero lag with exceptional sensitivity to trend changes. Contact us via direct message to request access to this exclusive indicator.
Designed for multi-timeframe usability, the oscillator operates seamlessly across all intervals, from 1-second candles to monthly charts. Its outputs are normalized within a consistent range of -3.0 to +3.0, ensuring clarity and uniformity in identifying overbought, oversold, and midline conditions. With enhancements and added functionality, the General Ehlers Oscillator is a comprehensive tool for traders seeking to refine their analysis and improve trade timing.
This script is inspired by the Wizard: "ImmortalFreedom" . However, it is more advanced and includes additional features and options.
Core Methodology
The General Ehlers Oscillator employs cutting-edge techniques to enhance trend-following and reversal detection:
TrendFlex Calculation: Retains trend information while being highly responsive to reversals.
Zero-Lag Averaging: Near-zero lag processing ensures that signals are timely and reliable.
Bounded Output: Oscillator values are normalized between -3.0 and +3.0, allowing consistent interpretation across all timeframes.
Key Features
The General Ehlers Oscillator combines advanced calculations with user-friendly customization options to meet the needs of diverse trading strategies.
Adjustable Thresholds
Additional threshold levels have been introduced, offering more granular insights into overbought and oversold conditions.
Enhanced Threshold Coloring
Improved visual cues allow traders to quickly interpret the oscillator's position relative to key thresholds, making it easier to identify significant market conditions.
Dynamic Alerts
Real-time alerts provide notifications for critical events, such as midline crosses, extreme values, and reversal points, ensuring you never miss an important signal.
Dashboard Integration
The oscillator now features an integrated dashboard that displays key information at a glance. Traders can monitor critical metrics and oscillator conditions across multiple timeframes, ensuring comprehensive situational awareness.
Dynamic Label for TrendFlex
A dynamic label overlays the chart, providing immediate feedback on the oscillator’s TrendFlex readings and reinforcing its usability as a trend-confirmation and reversal tool.
Practical Applications
The General Ehlers Oscillator supports a variety of trading strategies, including:
Trend Confirmation: Use midline crossings and the slope of the oscillator to confirm ongoing trends.
Reversal Detection: Identify key turning points in the market with high sensitivity to reversals.
Mean-Reversion Strategies: Spot overbought and oversold conditions using oscillator extremes, signaling potential reversion opportunities.
Enhanced Utility
Reversal Sensitivity
The oscillator’s ability to detect reversals is enhanced by additional threshold levels and dynamic visual cues, helping traders act decisively at critical turning points.
Multi-Timeframe Consistency
With a bounded range of -3.0 to +3.0, the oscillator maintains consistent behavior across all timeframes, offering reliable insights for both intraday and long-term analysis.
Comprehensive Alerts
Set custom alerts for threshold breaches, midline crossings, and reversal signals to stay ahead of market movements.
Visual Enhancements
Improved threshold coloring and dynamic labels make interpreting market conditions faster and more intuitive, reducing analysis time and decision-making delays.
Recent Updates
The General Ehlers Oscillator has been significantly improved with the following updates:
Additional Thresholds: More thresholds have been added, providing detailed insights into varying levels of market conditions.
Enhanced Threshold Coloring: Thresholds are now color-coded with improved clarity, making it easier to identify critical zones.
Dynamic Alerts: Real-time alerts for trading, reversal points, and threshold breaches ensure timely notifications of key events.
Integrated Dashboard: The new dashboard consolidates critical information, offering a clear overview of oscillator behavior across timeframes.
Dynamic TrendFlex Label: A dynamic label overlays the chart, displaying real-time TrendFlex values and reinforcing the oscillator’s analytical capabilities.
Why Use the General Ehlers Oscillator?
The General Ehlers Oscillator combines advanced methodologies with enhanced usability, making it an indispensable tool for traders.
Advanced Signal Processing: Built on Dr. John Ehlers’ innovative techniques.
Bounded Range: Consistent performance with a normalized range of -3.0 to +3.0.
Enhanced Alerts: Stay on top of critical market events with dynamic alerts.
Visual Improvements: Clear, intuitive visuals ensure faster interpretation and decision-making.
Customizable Features: Tailor the oscillator’s behavior to suit your trading style and market conditions.
Whether you’re focused on trend-following, mean-reversion, or volatility analysis, the General Ehlers Oscillator provides the tools and insights you need to navigate complex market conditions with confidence. However, the General Ehlers Oscillator works best in trend-following regimes.
-Jeffrey
Dynamic Intensity Transition Oscillator (DITO)The Dynamic Intensity Transition Oscillator (DITO) is a comprehensive indicator designed to identify and visualize the slope of price action normalized by volatility, enabling consistent comparisons across different assets. This indicator calculates and categorizes the intensity of price movement into six states—three positive and three negative—while providing visual cues and alerts for state transitions.
Components and Functionality
1. Slope Calculation
- The slope represents the rate of change in price action over a specified period (Slope Calculation Period).
- It is calculated as the difference between the current price and the simple moving average (SMA) of the price, divided by the length of the period.
2. Normalization Using ATR
- To standardize the slope across assets with different price scales and volatilities, the slope is divided by the Average True Range (ATR).
- The ATR ensures that the slope is comparable across assets with varying price levels and volatility.
3. Intensity Levels
- The normalized slope is categorized into six distinct intensity levels:
High Positive: Strong upward momentum.
Medium Positive: Moderate upward momentum.
Low Positive: Weak upward movement or consolidation.
Low Negative: Weak downward movement or consolidation.
Medium Negative: Moderate downward momentum.
High Negative: Strong downward momentum.
4. Visual Representation
- The oscillator is displayed as a histogram, with each intensity level represented by a unique color:
High Positive: Lime green.
Medium Positive: Aqua.
Low Positive: Blue.
Low Negative: Yellow.
Medium Negative: Purple.
High Negative: Fuchsia.
Threshold levels (Low Intensity, Medium Intensity) are plotted as horizontal dotted lines for visual reference, with separate colors for positive and negative thresholds.
5. Intensity Table
- A dynamic table is displayed on the chart to show the current intensity level.
- The table's text color matches the intensity level color for easy interpretation, and its size and position are customizable.
6. Alerts for State Transitions
- The indicator includes a robust alerting system that triggers when the intensity level transitions from one state to another (e.g., from "Medium Positive" to "High Positive").
- The alert includes both the previous and current states for clarity.
Inputs and Customization
The DITO indicator offers a variety of customizable settings:
Indicator Parameters
Slope Calculation Period: Defines the period over which the slope is calculated.
ATR Calculation Period: Defines the period for the ATR used in normalization.
Low Intensity Threshold: Threshold for categorizing weak momentum.
Medium Intensity Threshold: Threshold for categorizing moderate momentum.
Intensity Table Settings
Table Position: Allows you to position the intensity table anywhere on the chart (e.g., "Bottom Right," "Top Left").
Table Size: Enables customization of table text size (e.g., "Small," "Large").
Use Cases
Trend Identification:
- Quickly assess the strength and direction of price movement with color-coded intensity levels.
Cross-Asset Comparisons:
- Use the normalized slope to compare momentum across different assets, regardless of price scale or volatility.
Dynamic Alerts:
- Receive timely alerts when the intensity transitions, helping you act on significant momentum changes.
Consolidation Detection:
- Identify periods of low intensity, signaling potential reversals or breakout opportunities.
How to Use
- Add the indicator to your chart.
- Configure the input parameters to align with your trading strategy.
Observe:
The Oscillator: Use the color-coded histogram to monitor price action intensity.
The Intensity Table: Track the current intensity level dynamically.
Alerts: Respond to state transitions as notified by the alerts.
Final Notes
The Dynamic Intensity Transition Oscillator (DITO) combines trend strength detection, cross-asset comparability, and real-time alerts to offer traders an insightful tool for analyzing market conditions. Its user-friendly visualization and comprehensive alerting make it suitable for both novice and advanced traders.
Disclaimer: This indicator is for educational purposes and is not financial advice. Always perform your own analysis before making trading decisions.
ICT Digital open Daily DividersDescription for "ICT Digital Open Daily Dividers" TradingView Indicator
Overview
The "ICT Digital Open Daily Dividers" is a versatile and comprehensive TradingView Pine Script indicator designed for traders who utilize Institutional Order Flow methodologies, particularly in ICT (Inner Circle Trader) trading. This indicator provides a structured visual framework to assist traders in identifying key daily market sessions, critical opening prices, and distinguishing different trading days, especially focusing on the Sunday open, which is a crucial element in the ICT trading strategy.
Core Functionalities
Daily Vertical Lines: The script plots vertical lines at the start of each trading day, which helps to demarcate daily trading sessions. These lines are customizable, allowing traders to choose their color, style (solid, dashed, or dotted), and width. This feature helps in visually segmenting each trading day, making it easier to analyze daily price action patterns.
Sunday Open Differentiation: Unlike many other daily divider indicators, this script uniquely provides the option to highlight the Sunday open at 6 PM EST with distinct lines. This feature is especially valuable for ICT traders who consider the Sunday open as a critical reference point for weekly analysis. The color, style, and width of the Sunday open lines can be set separately, providing a clear visual distinction from regular weekday separators.
12 AM Open Toggle: For markets that are influenced by midnight opens, the indicator includes an option to shift the daily open line to 12 AM instead of the default 6 PM. This flexibility allows traders to adapt the indicator to different market dynamics or trading strategies.
Timezone Customization: The indicator allows traders to set the timezone for the open lines, ensuring that the vertical lines align accurately with the trader’s specific market hours, whether they follow New York time or any other timezone.
Session Time Filters: The script can hide or show specific trading session markers, such as the New York session open and close, which are pivotal for ICT traders. These markers help in focusing on the most active and liquid trading times.
Customizable Style Settings: The script includes comprehensive styling options for the plotted lines and session markers, allowing traders to personalize their charts to suit their visual preferences and improve clarity.
Day of the Week Labels: The indicator can plot labels for each day of the week, providing a quick reference to the day’s price action. This feature is particularly useful in reviewing weekly trading patterns and performance.
Use in ICT Trading
In ICT trading, the concept of the "open" is fundamental. The "ICT Digital Open Daily Dividers" indicator serves multiple purposes:
Market Structure Identification: By clearly marking daily opens, traders can easily identify market structure changes such as breakouts, retracements, or consolidations around these key levels.
Reference Points: The Sunday open is often a key level in ICT analysis, serving as a benchmark for assessing market direction for the upcoming week. This indicator’s ability to plot Sunday opens separately makes it uniquely suited for ICT strategies.
Time-based Analysis: ICT methodology often involves analyzing the market at specific times of the day. This indicator supports such analysis by marking significant session opens and closes.
Uniqueness and Advantages
The "ICT Digital Open Daily Dividers" stands out from other similar indicators due to its specialized features:
Sunday Open Highlighting: Few indicators offer the capability to specifically mark the Sunday open with distinct styling options.
Flexibility in Time Adjustments: With options to adjust the open time to either 6 PM or 12 AM, this indicator caters to a broader range of trading strategies and market conditions.
Enhanced Visualization: The wide range of customization options ensures that traders can tailor the indicator to their specific needs, enhancing the usability and visual clarity of their charts.
Compliance with TradingView's Pine Script Community Guidelines
The description adheres to TradingView's guidelines by being comprehensive, clear, and informative. It highlights the utility of the script, its unique features, and its application in trading strategies without making exaggerated claims about performance or profitability. The detailed customization options and unique functionalities are emphasized to differentiate this script from other standard daily divider indicators.
[ADDYad] Google Search Trends - Bitcoin (2012 Jan - 2025 Jan)This Pine Script shows the Google Search Trends as an indicator for Bitcoin from January 2012 to January 2025, based on monthly data retrieved from Google Trends. It calculates and displays the relative search interest for Bitcoin over time, offering a historical perspective on its popularity mainly built for BITSTAMP:BTCUSD .
Important note: This is not a live indicator. It visualizes historical search trends based on Google Trends data.
Key Features:
Data Source : Google Trends (Last retrieved in January 10 2025).
Timeframe : The script is designed to be used on a monthly chart, with the data reflecting monthly search trends from January 2012 to January 2025. For other timeframes, the data is linearly interpolated to estimate the trends at finer resolutions.
Purpose : This indicator helps visualize Bitcoin's search interest over the years, offering insights into public interest and sentiment during specific periods (e.g., major price movements or news events).
Data Handling : The data is interpolated for use on non-monthly timeframes, allowing you to view search trends on any chart timeframe. This makes it versatile for use in longer-term analysis or shorter timeframes, despite the raw data being available only on a monthly basis. However, it is most relevant for Monthly, Weekly, and Daily timeframes.
How It Works:
The script calculates the number of months elapsed since January 1, 2012, and uses this to interpolate Google Trends data values for any given point in time on the chart.
The linear interpolation function adjusts the monthly data to provide an approximate trend for intermediate months.
Why It's Useful:
Track Bitcoin's historic search trends to understand how interest in Bitcoin evolved over time, potentially correlating with price movements.
Correlate search trends with price action and other market indicators to analyze the effects of public sentiment and sentiment-driven market momentum.
Final Notes:
This script is unique because it shows real-world, non-financial dataset (Google Trends) to understand price action of Bitcoin correlating with public interest. Hopefully is a valuable addition to the TradingView community.
ADDYad
Percentage Calculator by Akshay GaurThis indicator calculates and displays percentage levels above and below the current price. It allows you to easily identify any percentage levels which can be used in many things like creating strangles and straddles and make informed trading decisions. The indicator automatically adjusts and redraws the lines and labels on the latest bar to reflect real-time market conditions.
Key Features:
• Calculates percentage levels above and below the current price
• Displays percentage levels on big labels with the horizontal lines on the chart
• Allows you to adjust the percentage value and every details.
• Allows you to see Fluctuation line on the chart.
How to Use:
1. Set the percentage value to the desired level (e.g. 1%, 2%, etc.)
2. If you want to see Fluctuation lines also then turn on it from Input settings.
3. Use the displayed levels to identify desired percentage levels.
4. Make informed trading decisions based on the calculated levels
Implied and Historical VolatilityAbstract
This TradingView indicator visualizes implied volatility (IV) derived from the VIX index and historical volatility (HV) computed from past price data of the S&P 500 (or any selected asset). It enables users to compare market participants' forward-looking volatility expectations (via VIX) with realized past volatility (via historical returns). Such comparisons are pivotal in identifying risk sentiment, volatility regimes, and potential mispricing in derivatives.
Functionality
Implied Volatility (IV):
The implied volatility is extracted from the VIX index, often referred to as the "fear gauge." The VIX represents the market's expectation of 30-day forward volatility, derived from options pricing on the S&P 500. Higher values of VIX indicate increased uncertainty and risk aversion (Whaley, 2000).
Historical Volatility (HV):
The historical volatility is calculated using the standard deviation of logarithmic returns over a user-defined period (default: 20 trading days). The result is annualized using a scaling factor (default: 252 trading days). Historical volatility represents the asset's past price fluctuation intensity, often used as a benchmark for realized risk (Hull, 2018).
Dynamic Background Visualization:
A dynamic background is used to highlight the relationship between IV and HV:
Yellow background: Implied volatility exceeds historical volatility, signaling elevated market expectations relative to past realized risk.
Blue background: Historical volatility exceeds implied volatility, suggesting the market might be underestimating future uncertainty.
Use Cases
Options Pricing and Trading:
The disparity between IV and HV provides insights into whether options are over- or underpriced. For example, when IV is significantly higher than HV, options traders might consider selling volatility-based derivatives to capitalize on elevated premiums (Natenberg, 1994).
Market Sentiment Analysis:
Implied volatility is often used as a proxy for market sentiment. Comparing IV to HV can help identify whether the market is overly optimistic or pessimistic about future risks.
Risk Management:
Institutional and retail investors alike use volatility measures to adjust portfolio risk exposure. Periods of high implied or historical volatility might necessitate rebalancing strategies to mitigate potential drawdowns (Campbell et al., 2001).
Volatility Trading Strategies:
Traders employing volatility arbitrage can benefit from understanding the IV/HV relationship. Strategies such as "long gamma" positions (buying options when IV < HV) or "short gamma" (selling options when IV > HV) are directly informed by these metrics.
Scientific Basis
The indicator leverages established financial principles:
Implied Volatility: Derived from the Black-Scholes-Merton model, implied volatility reflects the market's aggregate expectation of future price fluctuations (Black & Scholes, 1973).
Historical Volatility: Computed as the realized standard deviation of asset returns, historical volatility measures the intensity of past price movements, forming the basis for risk quantification (Jorion, 2007).
Behavioral Implications: IV often deviates from HV due to behavioral biases such as risk aversion and herding, creating opportunities for arbitrage (Baker & Wurgler, 2007).
Practical Considerations
Input Flexibility: Users can modify the length of the HV calculation and the annualization factor to suit specific markets or instruments.
Market Selection: The default ticker for implied volatility is the VIX (CBOE:VIX), but other volatility indices can be substituted for assets outside the S&P 500.
Data Frequency: This indicator is most effective on daily charts, as VIX data typically updates at a daily frequency.
Limitations
Implied volatility reflects the market's consensus but does not guarantee future accuracy, as it is subject to rapid adjustments based on news or events.
Historical volatility assumes a stationary distribution of returns, which might not hold during structural breaks or crises (Engle, 1982).
References
Black, F., & Scholes, M. (1973). "The Pricing of Options and Corporate Liabilities." Journal of Political Economy, 81(3), 637-654.
Whaley, R. E. (2000). "The Investor Fear Gauge." The Journal of Portfolio Management, 26(3), 12-17.
Hull, J. C. (2018). Options, Futures, and Other Derivatives. Pearson Education.
Natenberg, S. (1994). Option Volatility and Pricing: Advanced Trading Strategies and Techniques. McGraw-Hill.
Campbell, J. Y., Lo, A. W., & MacKinlay, A. C. (2001). The Econometrics of Financial Markets. Princeton University Press.
Jorion, P. (2007). Value at Risk: The New Benchmark for Managing Financial Risk. McGraw-Hill.
Baker, M., & Wurgler, J. (2007). "Investor Sentiment in the Stock Market." Journal of Economic Perspectives, 21(2), 129-151.
BTC vs Mag7 Combined IndexThis Mag7 Combined Index script is a custom TradingView indicator that calculates and visualizes the collective performance of the Magnificent 7 (Mag7) stocks—Apple, Microsoft, Alphabet, Amazon, NVIDIA, Tesla, and Meta (red line) compared to Bitcoin (blue line). It normalizes the daily closing prices of each stock to their initial value on the chart, scales them into percentages, and then computes their simple average to form a combined index. The result is plotted as a single red line, offering a clear view of the aggregated performance of these influential stocks over time compared to Bitcoin.
This indicator is ideal for analyzing the overall market impact of Bitcoin compared to the Mag7 stocks.
Bitcoin vs Mag7 Combined IndexThis Mag7 Combined Index script is a custom TradingView indicator that calculates and visualizes the collective performance of the Magnificent 7 (Mag7) stocks—Apple, Microsoft, Alphabet, Amazon, NVIDIA, Tesla, and Meta (red line) compared to Bitcoin (blue line). It normalizes the daily closing prices of each stock to their initial value on the chart, scales them into percentages, and then computes their simple average to form a combined index. The result is plotted as a single line, offering a clear view of the aggregated performance of these influential stocks over time compared to Bitcoin.
This indicator is ideal for analyzing the overall market impact of the Mag7 compared to Bitcoin.
