Composite Bull-Bear Dominance IndexNote: CREDITS: This is based on the Up Down Volume Indicator (published in Trading View) and Elder Ray Index (Bull Bear Power).
The Composite Bull Bear Dominance Index (CBBDI) is a indicator that combines up down volume analysis with Bull and Bear Power to provide a comprehensive view of market dynamics. It calculates Z-scores for up down volume delta and bull bear power measures, averages them, and then smoothes the result using Weighted Moving Average (WMA) for Bull and Bear Power and Volume Weighted Moving Average (VWMA) for Up and Down Volume Delta. The advantages include responsiveness to short-term trends, noise reduction through weighting, incorporation of volume information, and the ability to identify significant changes in buying and selling pressure. The indicator aims to offer clear signals for traders seeking insights into overall market dominance and indicate if the bulls or the bears have the upper hand.
Volume Analysis (Up/Down Volume Delta):
Up/Down Volume Delta reflects the net difference between buying and selling volume, providing insights into the prevailing market sentiment.
Positive Delta: Indicates potential bullish dominance due to higher buying volume.
Negative Delta: Suggests potential bearish dominance as selling volume surpasses buying volume.
Price Analysis (Bull and Bear Power):
Bull and Bear Power measure the strength of buying and selling forces based on price movements and the Exponential Moving Average (EMA) of the closing price.
Positive Bull Power: Reflects bullish dominance, indicating potential upward momentum.
Positive Bear Power: Suggests bearish dominance, indicating potential downward momentum.
Composite Bull Bear Dominance Index (CBBDI):
CBBDI combines the standardized Z-scores of Up/Down Volume Delta and Bull Bear Power, providing an average measure of both volume and price-related dominance.
Positive CBBDI: Indicates an overall bullish dominance in both volume and price dynamics.
Negative CBBDI: Suggests an overall bearish dominance in both volume and price dynamics.
Smoothing Techniques:
The use of Weighted Moving Average (WMA) for smoothing Bull and Bear Power Z-scores, and Volume Weighted Moving Average (VWMA) for smoothing Up/Down Volume Delta, reduces noise and provides a clearer trend signal.
Smoothing helps filter out short-term fluctuations and emphasizes more significant trends in both volume and price movements.
Color Coding:
CBBDI values are color-coded based on their direction, visually representing the prevailing market sentiment.
Green Colors: Positive values indicate potential bullish dominance.
Red Colors: Negative values suggest potential bearish dominance.
Osilatörler
RSI Missmatch(Divergence) OSC. by Neo_ with Missmatch Alert█ Definition
A divergence or missmatch occurs when an asset’s price is moving opposite to a specific technical indicator or is moving in a different direction from other relevant data. The divergence indicator warns traders and technical analysts of changes in a price trend, oftentimes that it is weakening or changing direction.
Divergence or missmatch can be either positive, signifying the possibility of a move that is higher in the asset’s price, or it can be negative, signifying the possibility of a move that is lower in the asset’s price.
█ Takeaways
Divergence or missmatch often works with other indicators and data. It is usually used by technical analysts and traders when the asset’s price is moving counter to the direction of another indicator.
As mentioned above, positive divergence or missmatch indicates that the price could start rising and usually occurs when the price is moving lower, but while another indicator counters this direction by moving higher. In other words, showing bullish signals.
Negative divergence or missmatch indicates that the price could start declining and usually occurs when the price is moving higher, while another indicator moves lower as well. In other words, showing bearish signals.
█ What to look for
Divergence or missmatch is most often used to track and analyze the momentum in an asset’s price and the odds of a price reversal within the current trend. While using divergence, traders and analysts can decide on whether or not they would like to exit the position or set a stop loss in the case the divergence is negative and prices begin to fall.
█ Limitations
It is best to use divergence or missmatch with the aid of other indicators and analysis tools in order to help identify and confirm trend reversals and major market patterns. Divergence should not be relied on by itself to tell you the pertinent information you need to know as an investor. Risk control is key in your analysis and the fact that divergence is not always present in price reversals should definitely be what pushes you to combine it with other tools and indicators.
Additionally, divergence or missmatch can reflect long-term or short-term changes. When making snap decisions, acting on divergence alone could prove detrimental to your trading. Make sure you have other risk factors applied to your charting and general market analysis.
█ What exactly is RSI Missmatches discrepancies using a lookback period in trading?
In trading, lookback period is the number of periods of historical data used for observation and calculation. It is how far into the past the system looks when trying to calculate the variable under consideration. The concept was based on the fact that history can provide information about the future, and my aim was to predict the periods when trend changes would begin within these periods with the RSI oscillator. But this is only true if you're locked back far enough, not locked any further or less!
We already use the idea of looking back in different aspects of our lives, and even in the world of financial trading it can be used in various ways. Of course you will want to learn more about the concept, so in this article we will cover the following topics:
█ What kind of hindsight is this?
The aim here is to check whether trends will change in certain cycles, so we chose the High + Low / 2 formula as the source. Because no matter how much the prices swing up or down, sometimes the rebound can go further. The aim here is to notice the points where the price leaves a needle at the levels where it oscillates and the slowdown in momentum.
█ What does look-back period mean in trade?
To understand what a lookback period means in trading, you need to ask yourself: What is a lookback period in trading? In financial trading, period refers to the duration of a particular trading session. For example, a one-week period means one full week of trading sessions or five trading days. In 5 trading days, the average time is 120 hours in FX markets and 40 hours in stock markets. Regardless of what happens in these cycles, I prefer to choose a time period of 55 periods. Because I noticed that in all the charts I examined, the cycles generally changed during this time period.
█ Let's talk about the meaning of catching Missmatches
As you know, technical indicators are all a mathematical calculation using historical market data (price, volume, or a combination of both). It shows the behavior of the price better and helps in the analysis of price movement. But the indicator can only serve your intended purpose if you get the lookback time right. What we mean here is the setting parameter that determines how much historical data it will use in its calculation. In other words, it is the retrospective review period.
For example, on the RSI indicator you can set this period to 13 periods (default setting) or even 2 periods. The period you choose can determine what the indicator tells you, which in turn determines the strategy you can create with the indicator. The 13- period RSI gives you information about price momentum, so you can effectively use it to create a momentum strategy. On the other hand, the 2-periods RSI can be used to create a mean reversion strategy. To catch any incompatibilities, I set this period to 55 periods. Nothing more, nothing less!
█ Summary
The missmatch indicator helps traders assess changes in the price trend and indicates when price will move with or against the direction of another indicator. It can be either positive or negative, but it is important to note its limitations and that it should be used with other indicators that can also monitor price trends.
We wish you to identify these incompatibilities in the market in the best way possible... Good luck.
█ Tanım
Bir varlığın fiyatı belirli bir teknik göstergenin tersi yönünde hareket ettiğinde veya diğer ilgili verilerden farklı bir yönde hareket ettiğinde bir sapma veya uyumsuzluk meydana gelir. Farklılık göstergesi, tüccarları ve teknik analistleri fiyat eğilimindeki değişiklikler konusunda uyarır; çoğu zaman zayıflıyor veya yön değiştiriyor.
Farklılık veya uyumsuzluk, varlığın fiyatında daha yüksek bir hareket olasılığını işaret ederek pozitif olabilir veya varlığın fiyatında daha düşük bir hareket olasılığını işaret ederek negatif olabilir.
█ Çıkarımlar
Farklılık veya uyumsuzluk çoğu zaman diğer göstergeler ve verilerle de çalışır. Genellikle teknik analistler ve yatırımcılar tarafından varlığın fiyatı başka bir göstergenin yönünün tersine hareket ettiğinde kullanılır.
Yukarıda bahsedildiği gibi pozitif sapma veya uyumsuzluk, fiyatın yükselmeye başlayabileceğini gösterir ve genellikle fiyat düşerken meydana gelir, ancak başka bir gösterge bu yöne yükselerek karşı koyar. Başka bir deyişle yükseliş sinyalleri veriyor.
Negatif sapma veya uyumsuzluk, fiyatın düşmeye başlayabileceğini gösterir ve genellikle fiyat yükselirken başka bir gösterge de düşerken meydana gelir. Başka bir deyişle düşüş sinyalleri veriyor.
█ Nelere bakılmalı
Farklılık veya uyumsuzluk çoğunlukla bir varlığın fiyatındaki momentumu ve mevcut trend içinde fiyatın tersine dönme olasılığını izlemek ve analiz etmek için kullanılır. Farklılaşmayı kullanırken tüccarlar ve analistler, sapmanın negatif olması ve fiyatların düşmeye başlaması durumunda pozisyondan çıkmak isteyip istemeyeceklerine veya zararı durdurma kararı verip veremeyeceklerine karar verebilirler.
█ Sınırlamalar
Trend dönüşlerini ve ana piyasa modellerini tanımlamaya ve doğrulamaya yardımcı olmak için diğer göstergeler ve analiz araçlarının yardımıyla sapmayı veya uyumsuzluğu kullanmak en iyisidir. Bir yatırımcı olarak bilmeniz gereken ilgili bilgileri size söylemesi için farklılığa tek başına güvenilmemelidir. Risk kontrolü analizinizin anahtarıdır ve fiyat dönüşlerinde farklılığın her zaman mevcut olmaması gerçeği kesinlikle sizi onu diğer araç ve göstergelerle birleştirmeye iten şey olmalıdır.
Ek olarak, farklılık veya uyumsuzluk uzun vadeli veya kısa vadeli değişiklikleri yansıtabilir. Ani kararlar verirken yalnızca farklılıklara göre hareket etmek ticaretinize zarar verebilir. Grafiğinize ve genel piyasa analizinize başka risk faktörlerinin uygulandığından emin olun.
█ Ticarette yeniden inceleme dönemi kullanan RSI Missmatches tutarsızlıkları tam olarak nedir?
Ticarette yeniden inceleme süresi, gözlem ve hesaplama için kullanılan geçmiş verilerin dönemlerinin sayısıdır. Söz konusu değişkeni hesaplamaya çalışırken sistemin ne kadar geçmişe baktığıdır. Konsept tarihin geleceğe dair bilgi verebileceği gerçeği üzerine kuruluydu ve amacım RSI osilatörü ile bu dönemler içerisinde trend değişimlerinin başlayacağı dönemleri tahmin etmekti. Ancak bu yalnızca yeterince geriye kilitlenmişseniz geçerlidir, daha fazla veya daha az kilitlenmemişseniz!
Geriye bakma fikrini hayatımızın farklı yönlerinde zaten kullanıyoruz ve hatta finansal ticaret dünyasında bile bu fikir çeşitli şekillerde kullanılabilir. Elbette konsept hakkında daha fazla bilgi edinmek isteyeceksiniz, bu nedenle bu yazıda aşağıdaki konuları ele alacağız:
█ Bu nasıl bir sonradan görmedir?
Burada amaç belli döngülerde trendlerin değişip değişmeyeceğini kontrol etmek olduğundan kaynak olarak Yüksek + Düşük / 2 formülünü seçtik. Çünkü fiyatlar ne kadar yukarı veya aşağı hareket ederse etsin bazen toparlanma daha da ileri gidebiliyor. Burada amaç fiyatın salınım yaptığı seviyelerde iğne bıraktığı noktaları ve momentumdaki yavaşlamayı fark etmektir.
█ Ticarette geriye bakma süresi ne anlama geliyor?
Ticarette yeniden inceleme süresinin ne anlama geldiğini anlamak için kendinize şu soruyu sormanız gerekir: Ticarette yeniden inceleme süresi nedir? Finansal ticarette dönem, belirli bir ticaret seansının süresini ifade eder. Örneğin, bir haftalık dönem, bir tam haftalık işlem seansı veya beş işlem günü anlamına gelir. 5 işlem gününde ortalama süre döviz piyasalarında 120 saat, borsalarda ise 40 saattir. Bu döngülerde ne olursa olsun 55 periyotluk bir zaman dilimini seçmeyi tercih ediyorum. Çünkü incelediğim tüm grafiklerde bu zaman diliminde döngülerin genel olarak değiştiğini fark ettim.
█ Kaçak Eşleşmeleri yakalamanın anlamı hakkında konuşalım
Bildiğiniz gibi teknik göstergeler, geçmiş piyasa verileri (fiyat, hacim veya her ikisinin birleşimi) kullanılarak yapılan matematiksel hesaplamalardır. Fiyatın davranışını daha iyi gösterir ve fiyat hareketinin analizine yardımcı olur. Ancak gösterge yalnızca yeniden inceleme süresini doğru yaparsanız amacınıza hizmet edebilir. Burada kast ettiğimiz, hesaplamasında ne kadar geçmiş veri kullanacağını belirleyen ayar parametresidir. Bir başka deyişle geriye dönük inceleme dönemidir.
Örneğin RSI göstergesinde bu süreyi 13 döneme (varsayılan ayar) ve hatta 2 döneme ayarlayabilirsiniz. Seçeceğiniz dönem, göstergenin size ne söyleyeceğini belirleyebilir ve bu da gösterge ile oluşturabileceğiniz stratejiyi belirler. 13 dönemlik RSI size fiyat momentumu hakkında bilgi verir, böylece onu bir momentum stratejisi oluşturmak için etkili bir şekilde kullanabilirsiniz. Öte yandan, ortalamaya dönüş stratejisi oluşturmak için 2 dönemlik RSI kullanılabilir. Herhangi bir uyumsuzluğu yakalamak için bu periyodu 55 periyoda ayarladım. Ne fazla ne eksik!
█ Özet
Uyumsuzluk göstergesi, yatırımcıların fiyat eğilimindeki değişiklikleri değerlendirmesine yardımcı olur ve fiyatın ne zaman başka bir göstergenin yönüne göre veya ona karşı hareket edeceğini gösterir. Olumlu ya da olumsuz olabilir, ancak sınırlamalarına dikkat etmek ve fiyat eğilimlerini de izleyebilecek diğer göstergelerle birlikte kullanılması gerektiğini unutmamak önemlidir.
Piyasadaki bu uyumsuzlukları en iyi şekilde tespit etmenizi dileriz... Bol Kazançlar.
Median Proximity Percentile [AlgoAlpha]📊🚀 Introducing the "Median Proximity Percentile" by AlgoAlpha, a dynamic and sophisticated trading indicator designed to enhance your market analysis! This tool efficiently tracks median price proximity over a specified lookback period and finds it's percentile between 2 dynamic standard deviation bands, offering valuable insights for traders looking to make informed decisions.
🌟 Key Features:
Color-Coded Visuals: Easily interpret market trends with color-coded plots indicating bullish or bearish signals.
Flexibility: Customize the indicator with your preferred price source and lookback lengths to suit your trading strategy.
Advanced Alert System: Stay ahead with customizable alerts for key trend shifts and market conditions.
🔍 Deep Dive into the Code:
Choose your preferred price data source and define lookback lengths for median and EMA calculations. priceSource = input.source(close, "Source") and lookbackLength = input.int(21, minval = 1, title = "Lookback Length")
Calculate median value, price deviation, and normalized value to analyze market position relative to the median. medianValue = ta.median(priceSource, lookbackLength)
Determine upper and lower boundaries based on standard deviation and EMA. upperBoundary = ta.ema(positiveValues, lookbackLength) + ta.stdev(positiveValues, lookbackLength) * stdDevMultiplier
lowerBoundary = ta.ema(negativeValues, lookbackLength) - ta.stdev(negativeValues, lookbackLength) * stdDevMultiplier
Compute the percentile value to track market position within these boundaries. percentileValue = 100 * (normalizedValue - lowerBoundary)/(upperBoundary - lowerBoundary) - 50
Enhance your analysis with Hull Moving Average (HMA) for smoother trend identification. emaValue = ta.hma(percentileValue, emaLookbackLength)
Visualize trends with color-coded plots and characters for easy interpretation. plotColor = percentileValue > 0 ? colorUp : percentileValue < 0 ? colorDown : na
Set up advanced alerts to stay informed about significant market movements. // Alerts
alertcondition(ta.crossover(emaValue, 0), "Bullish Trend Shift", "Median Proximity Percentile Crossover Zero Line")
alertcondition(ta.crossunder(emaValue, 0), "Bearish Trend Shift", "Median Proximity Percentile Crossunder Zero Line")
alertcondition(ta.crossunder(emaValue,emaValue ) and emaValue > 90, "Bearish Reversal", "Median Proximity Percentile Bearish Reversal")
alertcondition(ta.crossunder(emaValue ,emaValue) and emaValue < -90, "Bullish Reversal", "Median Proximity Percentile Bullish Reversal")
🚨 Remember, the "Median Proximity Percentile " is a tool to aid your analysis. It’s essential to combine it with other analysis techniques and market understanding for best results. Happy trading! 📈📉
Blockunity Drawdown Visualizer (BDV)Monitor the drawdown (value of the drop between the highest and lowest points) of assets and act accordingly to reduce your risk.
Introducing BDV, the incredibly intuitive metric that visualizes asset drawdowns in the most visually appealing manner. With its color gradient display, BDV allows you to instantly grasp the state of retracement from the asset’s highest price level. But that’s not all – you have the option to display the oscillator’s colorization directly on your chart, enhancing your analysis even further.
The Idea
The goal is to provide the community with the best and most complete tool for visualizing the Drawdown of any asset.
How to Use
Very simple to use, the indicator takes the form of an oscillator, with colors ranging from red to green depending on the Drawdown level. A table summarizes several key data points.
Elements
On the oscillator, you'll find a line with a color gradient showing the asset's Drawdown. The flatter line represents the Max Drawdown (the lowest value reached).
In addition, the table summarizes several data:
The asset's All Time High (ATH).
Current Drawdown.
The Max Drawdown that has been reached.
Settings
First of all, you can activate a "Bar Color" in the settings (You must also uncheck "Borders" and "Wick" in your Chart Settings):
You can display Fibonacci levels on the oscillator. You'll see that levels can be relevant to drawdown. The color of the levels is also configurable.
In the calculation parameters, you can first choose between taking the High of the candles or the Close. By default this is Close, but if you change the parameter to High, the indication next to ATH in the table will change, and you'll see that the values in the table will be affected.
The second calculation parameter (Start Date) lets you modify the effective start date of the ATH, which will affect the drawdown level. Here's an example:
How it Works
First, we calculate the ATH:
var bdv_top = bdv_source
bdv_top := na(bdv_top ) ? bdv_source : math.max(bdv_source, bdv_top )
Then the drawdown is calculated as follows:
bdv = ((bdv_source / bdv_top) * 100) - 100
Then the max drawdown :
bdv_max = bdv
bdv_max := na(bdv_max ) ? bdv : math.min(bdv, bdv_max )
Stochastic Levels on Chart [MisterMoTA]The values of the Stochastic Levels on Chart indicator are calculated using Reverse Engineering calculations starting from default Stochastic formula : 100 * (close - lowest(low, length)) / (highest(high, length) - lowest(low, length)).
I added options for users to define the Extreme Overbought and Oversold values, also simple Oversold and Overbought values of the stochastic, default Extreme Overbought at 100, Extreme Oversold at 0, the 20 for Oversold and 80 as Overbought, plus the middle stochastic level = 50.
The script has included a color coded 20 SMA that will turn red when the 20 SMA is falling and green when it is rising, also there are bollinger bands using 2 standard deviation plus an extra top and bottom bollinger bands with a 2.5 standard deviation.
The users can use Stochastic Levels on Chart along with a simple Stochastic or a Stochastic Rsi indicator, when the price on chart touching extreme levels and Stochastic or Stochastic Rsi K line crossing above or bellow D line users can see on chart the levels where price need to close for getting stochastic overbought or oversold.
In the demo chart we can see at daily stochastic crossed down and the price crossed down all the levels displayed on chart, and same before stochastic was crossing up from oversold and price crossed up the stochastic levels displayed on chart.
In strong bullish moves the Extreme level 100 of the stochastic will be pushed higher, same in a strong bearish move the Extreme Oversold 0 level will be pushed lower, so users need to wait for confirmation of a crossover between K and D lines of stochastic that will signalize a pullback or a reverse of the trend.
For better results you will need to add a dmi or an adx or other indicator that will show you trend strength.
If you have any questions or suggestions to improve the script please send me a PM.
RSI Levels On Chart [MisterMoTA]The values of the RSI Levels On Chart are calculated using Reverse Engineering RSI calculations by Giorgos Siligardos, Ph.D.
Instead of using only the 50 line of the RSI on chart I added options for users to define the Extreme Overbought and Oversold values, also simple Oversold and Overbought values, start of Bullish and Bearish zones and the 50 rsi value.
With the RSI Levels On Chart users are able to see on chart the price that a candles need to close for a certain value of the RSI. E.g. what price is needed for the RSI to be at oversold 30 or what would be the price when rsi will cross the 50 line.
The script has the 50 line color coded that will turn red when the line falling and will change to the user input color when it will be rising, helping users to see fast the clear trend of any asset on any timeframe from 1 second to 12 months.
I added few alerts for rsi overbought, oversold, extreme overbought and extreme oversold, crossing 50 level, crossing bullish or bearish zones values and also alerts for the 50 line falling or rising.
You can use RSI Levels On Chart as a simple indicator or you can add your favorite oscilator(s) to have a clear view of the trends of the markets, in this demo I added RSI + Divergences + Alerts with a moving average set to 50 RMA.
RSI/MFI Selling Sentiment IndexPsychological Sales Index (Psychological Sales Index)
Fundamental Indicators of Market Sentiment: The Importance of MFI and RSI
The two fundamental indicators that best reflect market sentiment are Money Flow Index (MFI) and Relative Strength Index (RSI). MFI is an indicator of the flow of funds in a market by combining price and volume, which is used to determine whether a stock is over-bought or over-selling. RSI is an indicator of the overheating of the market by measuring the rise and fall of prices, which is applied to the analysis of the relative strength of stock prices. These two indicators allow a quantitative assessment of the market's buying and selling pressure, which provides important information to understand the psychological state of market participants.
Using timing and fundamental metrics
In order to grasp the effective timing of the sale, in-depth consideration was needed on how to use basic indicators. MFI and RSI represent the buying and selling pressures of the market, respectively, but there is a limit to reflecting the overall trend of the market alone. As a result, a study on how to capture more accurate selling points was conducted by comprehensively considering technical analysis along with psychological factors of the market.
The importance of ADX integration and weighting
The "Average Regional Index (ADX)" was missing in the early version. ADX is an indicator of the strength of a trend, and has experienced a problem of less accuracy in selling sentiment indicators, especially in the upward trend. To address this, we incorporated ADX and adopted a method of adjusting the weights of MFI and RSI according to the values of ADX. A high ADX value implies the existence of a strong trend, in which case it is appropriate to reduce the influence of MFI and RSI to give more importance to the strength of the trend. Conversely, a low ADX value increases the influence of MFI and RSI, putting more weight on the psychological elements of the market.
How to use and interpret
The user can adjust several parameters. Key inputs include 'Length', 'Overbought Threshold', 'DI Length', and 'ADX Smoothing'. These parameters are used to set the calculation period, overselling threshold, DI length, and ADX smoothing period of the indicator, respectively. The script calculates the psychological selling index based on MFI, RSI, and ADX. The calculated index is normalized to values between 0 and 100 and is displayed in the graph. Values above 'Overbought Threshold' indicate an overselling state, which can be interpreted as a potential selling signal. This index allows investors to comprehensively evaluate the psychological state of the market and the strength of trends, which can be used to make more accurate selling decisions.
SMIIO + VolumeThis indicator generates long and short signals.
The operation of the indicator is as follows;
First, true strength index is calculated with closing prices. We call this the "ergodic" curve.
Then the average of the ergodic (ema) is calculated to obtain the "signal" curve.
To calculate the "oscillator", the signal is subtracted from ergodic (oscillator = ergodic - signal).
The last variable to be used in the calculation is the average volume, calculated with sma.
Calculation for long signal;
- If the ergodic curve cross up the zero line (ergodic > 0 AND ergodic < 0) and,
- If the current oscillator is greater than the previous oscillator (oscillator > oscillator ) and,
- If the current ergonic is greater than the previous signal (ergonic > signal) and,
- If the current volume is greater than the average volume (volume > averageVolume) and,
- If the current candle closing price is greater than the opening price (close > open)
If all the above conditions are fullfilled, the long input signal is issued with "Buy" label.
Calculation for short signal;
- If the ergodic curve cross down the zero line (ergodic < 0 AND ergodic > 0) and,
- If the current oscillator is smaller than the previous oscillator (oscillator < oscillator ) and,
- If the current ergonic is smaller than the previous signal (ergonic < signal) and,
- If the current volume is greater than the average volume (volume > averageVolume) and,
- If the current candle closing price is smaller than the opening price (close < open)
If all the above conditions are fullfilled, the short input signal is issued with "Sell" label.
Osmosis [ChartPrime]Osmosis is a multi indicator, multi period heatmap. Lookback periods can be mysterious as it can tend to seem very arbitrary. This tool allows users to see how price/volume reacts to short to long periods by visualizing all of the periods at the same time. This is useful because small periods are only good for short term movements while long periods are useful for long term movements. This more detailed view of market trends is analogues of multi time frame analysis. The lookback periods are arranged from bottom up, where the bottom of the indicator is the shortest period while the top is the longest period.
One major feature of this indicator is its ability to signal potential trend reversals. For example, a shift in the direction at the lower end of the heatmap can indicate a weakening of the current trend, suggesting a possible reversal. On the other hand, when the heatmap is fully saturated at all levels, it may indicate a strong trend that could be nearing a reversal point.
Another important and unique aspect of the Osmosis indicator is its automatic highlighting feature. This feature emphasizes regions within the heatmap that score exceptionally high or low, drawing attention to significant market movements or potential anomalies.
All of the indicators are normalized using min/max scaling driven by the highest highs and lows. The period of this scaling is adjustable by changing the "Lookback" parameter under settings. Delta length changes the lookback for "MA Delta" and "Volume Delta". A longer period corresponds to a smoother output. Fast Mode scales back the range of the indicator, literally halving the increment.
Here is a short description of what each input does:
Alternate Source: A choice to use a different data source for the indicator.
Source: An option to turn on or off the alternate data source.
Style: A selection menu to choose the visual style of the indicator.
Lookback: Adjusts how far back in time the indicator looks for its calculations.
Delta Length: Changes the length of time over which changes are measured.
Fast Mode: A setting that adjusts the range of the indicator for quicker analysis.
Enable Smoothing: A choice to smooth out the data for a cleaner look.
Smooth: Activates the smoothing feature.
Max Region: Highlights the highest value regions in the heatmap.
Max Threshold: Sets the threshold for what counts as a 'max' region.
Minimum Max Width: Determines the smallest size for a 'max' region to be highlighted.
Max Region Color: Chooses the color for the maximum value regions.
Max Top Line Alpha: Adjusts the transparency of the top line in max regions.
Max Bottom Line Alpha: Adjusts the transparency of the bottom line in max regions.
Line Width: Sets the thickness of the lines in the max regions.
Region Start Indication: Specifies where the max region starts.
Fill Max: Decides if the max regions should be filled with color and sets the transparency level for the color fill in max regions.
Minimum Region: Highlights the lowest value regions in the heatmap.
Minimum Threshold: Sets the threshold for what counts as a 'min' region.
Minimum Minimum Width: Determines the smallest size for a 'min' region to be highlighted.
Minimum Region Color: Chooses the color for the minimum value regions.
Minimum Top Line Alpha: Adjusts the transparency of the top line in min regions.
Minimum Bottom Line Alpha: Adjusts the transparency of the bottom line in min regions.
Minimum Line Width: Sets the thickness of the lines in the min regions.
Minimum Region Start Indication: Specifies where the min region starts.
Fill Minimum: Decides if the min regions should be filled with color and sets the transparency level for the color fill in min regions.
Color Presets: Provides pre-set color schemes.
Invert Color Scale: Flips the color scale.
Gradient Colors: Customizes individual colors for the gradient scale.
Available styles include:
'MACD Histogram'
'Normalized MACD'
'Slow MACD'
'MACD Percent Rank'
'MA Delta' (Delta Length set to 2)
'BB Width'
'BB Width Percentile'
'Stochastic'
'RSI'
'True Range OSC'
'Normalized Volume'
'Volume Delta'
'True Range'
'Rate of Change' (Smoothing set to 1)
'OBV' (Smoothing set to 1)
'MFI' (Smoothing set to 1)
'Trend Angle' (Smoothing set to 2 and fast mode off)
Fibonacci Averages Trend OscillatorOverview:
The Fibonacci Averages Trend Oscillator is a unique technical indicator that leverages Fibonacci numbers to analyze market trends. It calculates the average trend sentiment over periods determined by Fibonacci numbers and smooths the result to create an oscillator.
Key Features:
Uses Fibonacci sequences for trend analysis.
Smooths the trend data to create a clear oscillator.
Offers adjustable oversold and overbought levels for customized analysis.
Inputs:
Max Fib Number: Select the highest Fibonacci number for trend calculation.
Smooth: Adjust the smoothness of the oscillator line.
Using the Oscillator:
A rising oscillator indicates a bullish trend, while a falling oscillator suggests bearish sentiment.
Oversold and overbought levels help identify potential reversal points.
Use the oscillator in conjunction with other indicators for comprehensive market analysis.
Tips for Effective Use:
Adjusting Fibonacci Levels: Experiment with different 'Max Fib Number' settings to find the one that best matches your trading style and the asset's characteristics. Higher Fibonacci numbers consider longer periods, which might be more suitable for long-term trend analysis.
Smoothing Level: The 'Smooth' input helps in reducing noise. A higher smooth level results in a less responsive but smoother line, which can be useful for identifying the overall trend direction.
Interpreting Overbought/Oversold: Watch for the oscillator reaching overbought or oversold levels. These points could signal potential trend reversals or consolidation phases.
Combination with Other Tools: For best results, combine the Fibonacci Averages Trend Oscillator with other technical tools like moving averages, RSI, or MACD to validate the signals and develop a robust trading strategy.
Conclusion:
The Fibonacci Averages Trend Oscillator offers a unique approach to trend analysis by incorporating Fibonacci numbers into its calculation. Its adjustable settings allow for customization to fit various trading styles and market conditions, making it a versatile tool for traders seeking to enhance their technical analysis capabilities.
ADX and DI (Colored Candles Open-Source)The "ADX and DI (Colored Candles Open-Source)" indicator is a technical analysis tool used in trading. It utilizes the Average Directional Index (ADX) and the Directional Movement Indicators (+DI and -DI) to assess the strength and direction of a price trend. The ADX is calculated based on a 14-period lookback and is displayed as a histogram.
The color of the ADX histogram varies depending on the ADX value and the relative positions of +DI and -DI. Green and purple colors represent bullish and bearish trends respectively, with variations in shades indicating trend strength. Yellow and red colors indicate potential trend exhaustion for bullish and bearish trends, respectively, when ADX is above 50. Gray color is used when ADX is below 10, indicating a neutral trend.
Additionally, the script plots +DI and -DI lines with a fill between them to visually represent their crossover. Horizontal dotted lines are drawn at key ADX levels (0, 10, 25, 50) for reference. The candles on the chart are also colored to match the ADX histogram, providing a clear visual representation of the market trend.
F.B_Vortex Indicator ProThe "F.B_Vortex Indicator Pro" is a technical analysis tool designed to identify trends in financial markets. It calculates two Vortex Indicators (VI) based on price movements, considering positive and negative price changes.
The smoothed VI+ line represents the smoothed negative trend, while the smoothed VI+ line represents the smoothed positive trend.
The crossing of the smoothed VI+ line above the smoothed VI+ line could indicate a potential bullish trend.
Conversely, the crossing of the smoothed VI+ line above the smoothed VI+ line suggests a possible bearish trend.
The "Smoothed VI-" line is also displayed.
When the Smoothed VI- line is above both the smoothed VI+ line and the smoothed VI+ line, it may signal a transition to a bearish main trend or indicate an expected one.
When the Smoothed VI- line is below both the smoothed VI+ line and the smoothed VI+ line, it may indicate a transition to a bullish main trend or suggest an expected one.
Adjustments can be made using input parameters such as length and smoothing periods to tailor the indicator to specific market conditions.
Monitor XThe Monitor X Indicator is a dynamic tool designed for any trading symbol, providing a quick and intuitive snapshot of price action relative to the latest closing level. With a user-friendly interface, this indicator allows traders to effortlessly gauge price movement and key levels.
Key Features:
1. Symbol Agnosticism:
Universally applicable to any trading symbol, the Monitor X Indicator ensures versatility and adaptability across various financial instruments.
2. Instant Price Insight:
Obtain immediate clarity on current market dynamics with a single glance. The indicator prominently displays the price line, facilitating swift analysis.
3. Last Close Comparison:
Easily assess the price's relationship to the most recent closing level. This feature provides valuable context for understanding market sentiment and potential support/resistance areas.
4. Customizable Display:
Tailor the indicator to your preferences with adjustable settings for line color, width, and opacity. This customization empowers traders to align the indicator with their unique trading strategies.
5. Intuitive Interface:
The clean and intuitive interface ensures a seamless user experience. Access crucial information effortlessly, allowing for quick decision-making.
How to Use:
1. Symbol Selection:
Apply the Monitor X Indicator to any trading symbol of your choice, ensuring a versatile tool for your entire portfolio.
2. Last Close Analysis:
Quickly assess how the current price relates to the previous close. This instant comparison aids in identifying potential entry and exit points.
3. Customization for Precision:
Fine-tune the indicator's appearance to suit your preferences. Adjust line colors, widths, and opacity settings for a personalized and efficient trading experience.
4. Swift Decision-Making:
Utilize the Monitor X Indicator for rapid decision-making. Gain insights into market movements at a glance, allowing you to stay ahead in dynamic trading environments.
Momentum Bias Index [AlgoAlpha]Description:
The Momentum Bias Index by AlgoAlpha is designed to provide traders with a powerful tool for assessing market momentum bias. The indicator calculates the positive and negative bias of momentum to gauge which one is greater to determine the trend.
Key Features:
Comprehensive Momentum Analysis: The script aims to detect momentum-trend bias, typically when in an uptrend, the momentum oscillator will oscillate around the zero line but will have stronger positive values than negative values, similarly for a downtrend the momentum will have stronger negative values. This script aims to quantify this phenomenon.
Overlay Mode: Traders can choose to overlay the indicator on the price chart for a clear visual representation of market momentum.
Take-profit Signals: The indicator includes signals to lock in profits, they appear as labels in overlay mode and as crosses when overlay mode is off.
Impulse Boundary: The script includes an impulse boundary, the impulse boundary is a threshold to visualize significant spikes in momentum.
Standard Deviation Multiplier: Users can adjust the standard deviation multiplier to increase the noise tolerance of the impulse boundary.
Bias Length Control: Traders can customize the length for evaluating bias, enabling them to fine-tune the indicator according to their trading preferences. A higher length will give a longer-term bias in trend.
F.B_Stochastic Trend HarmonizerThe "F.B_Stochastic Trend Harmonizer" has been developed to provide insights into market trends. It combines stochastic oscillations with moving averages. Stochastic oscillators are used to measure market fluctuations, while moving averages serve to smooth these fluctuations and identify trends. By linking these elements, the indicator aims to offer an enhanced representation of market dynamics and potential trend reversals.
You can choose various types of moving averages such as SMA, EMA, or WMA and control the sensitivity of the lines by adjusting the smoothing factors. The fast line displays harmonized stochastic values, while the slow line is smoothed by a moving average.
The "Fast Line 2" marks individual candles for better visibility. It is recommended to combine this indicator with other analysis tools to make trading decisions.
If the "Fast Line" is greater than the "Slow Line MA," it indicates an uptrend. Conversely, if the "Fast Line" is smaller than the "Slow Line MA," it signals a downtrend.
Instant MACD (IMACD)The "Instant MACD" is a tailored version of the traditional Moving Average Convergence Divergence indicator, specifically designed to begin plotting with minimal data, such as in cases of high timeframe charts or newly listed trading instruments. Unlike the standard MACD that requires a substantial amount of data to provide accurate readings, the Instant MACD can deliver insights with as few as two candlesticks.
This iteration of the MACD utilizes the Chebyshev filter for the computation of both the fast and slow moving averages as well as for the signal line. The Chebyshev filter is known for its effectiveness in smoothing data series and reducing ripple effects, which is particularly advantageous when working with limited datasets.
The Instant MACD comprises several components. The histogram, which illustrates the difference between the MACD line and the signal line, adjusts its color based on the directional momentum; it transitions between shades of green and red as the histogram moves above or below the zero line and increases or decreases in value. The MACD line, depicted in blue, represents the disparity between the fast and slow Chebyshev moving averages. Complementing it is the signal line in orange, which is a Chebyshev-filtered mean of the MACD line and serves as an indicator of potential momentum shifts.
Additionally, the indicator includes a zero line for reference, aiding in the visualization of the convergence or divergence of the MACD and signal lines. To enhance its utility, the script encompasses alert conditions to notify users when there is a change in the trend of the histogram—specifically, when it transitions from a rising to a falling state and vice versa, potentially indicating shifts in market momentum.
Overall, the Instant MACD is an innovative tool for traders who require early trend signals in scenarios where traditional MACD analysis might be hampered by the lack of extensive historical data.
tl;dr this is identical to the regular macd but it starts working almost instantly.
Overbought / Oversold Screener## Introduction
**The Versatile RSI and Stochastic Multi-Symbol Screener**
**Unlock a wealth of trading opportunities with this customizable screener, designed to pinpoint potential overbought and oversold conditions across 17 symbols, with alert support!**
## Description
This screener is suitable for tracking multiple instruments continuously.
With the screener, you can see the instant RSI or Stochastic values of the instruments you are tracking, and easily catch the moments when they are overbought / oversold according to your settings.
The purpose of the screener is to facilitate the continuous tracking of multiple instruments. The user can track up to 17 different instruments in different time intervals. If they wish, they can set an alarm and learn overbought oversold according to the values they set for the time interval of the instruments they are tracking.**
Key Features:
Comprehensive Analysis:
Monitors RSI and Stochastic values for 17 symbols simultaneously.
Automatically includes the current chart's symbol for seamless integration.
Supports multiple timeframes to uncover trends across different time horizons.
Personalized Insights:
Adjust overbought and oversold thresholds to align with your trading strategy.
Sort results by symbol, RSI, or Stochastic values to prioritize your analysis.
Choose between Automatic, Dark, or Light mode for optimal viewing comfort.
Dynamic Visual Cues:
Instantly highlights oversold and overbought symbols based on threshold levels.
Timely Alerts:
Stay informed of potential trading opportunities with alerts for multiple oversold or overbought symbols.
## Settings
### Display
**Timeframe**
The screener displays the values according to the selected timeframe. The default timeframe is "Chart". For example, if the timeframe is set to "15m" here, the screener will show the RSI and stochastic values for the 15-minute chart.
** Theme **
This setting is for changing the theme of the screener. You can set the theme to "Automatic", "Dark", or "Light", with "Automatic" being the default value. When the "Automatic" theme is selected, the screener appearance will also be automatically updated when you enable or disable dark mode from the TradingView settings.
** Position **
This option is for setting the position of the table on the chart. The default setting is "middle right". The available options are (top, middle, bottom)-(left, center, right).
** Sort By **
This option is for changing the sorting order of the table. The default setting is "RSI Descending". The available options are (Symbol, RSI, Stoch)-(Ascending, Descending).
It is important to note that the overbought and oversold coloring of the symbols may also change when the sorting order is changed. If RSI is selected as the sorting order, the symbols will be colored according to the overbought and oversold threshold values specified for RSI. Similarly, if Stoch is selected as the sorting order, the symbols will be colored according to the overbought and oversold threshold values specified for Stoch.
From this perspective, you can also think of the sorting order as a change in the main indicator.
### RSI / Stochastic
This area is for selecting the parameters of the RSI and stochastic indicators. You can adjust the values for "length", "overbought", and "oversold" for both indicators according to your needs. The screener will perform all RSI and stochastic calculations according to these settings. All coloring in the table will also be according to the overbought and oversold values in these settings.
### Symbols
The symbols to be tracked in the table are selected from here. Up to 16 symbols can be selected from here. Since the symbol in the chart is automatically added to the table, there will always be at least 1 symbol in the table. Note that the symbol in the chart is shown in the table with "(C)". For example, if SPX is open in the chart, it is shown as SPX(C) in the table.
## Alerts
The screener is capable of notifying you with an alarm if multiple symbols are overbought or oversold according to the values you specify along with the desired timeframe. This way, you can instantly learn if multiple symbols are overbought or oversold with one alarm, saving you time.
BTC Supply in Profits and Losses (BTCSPL) [AlgoAlpha]Description:
🚨The BTC Supply in Profits and Losses (BTCSPL) indicator, developed by AlgoAlpha, offers traders insights into the distribution of INDEX:BTCUSD addresses between profits and losses based on INDEX:BTCUSD on-chain data.
Features:
🔶Alpha Decay Adjustment: The indicator provides the option to adjust the data against Alpha Decay, this compensates for the reduction in clarity of the signal over time.
🔶Rolling Change Display: The indicator enables the display of the rolling change in the distribution of Bitcoin addresses between profits and losses, aiding in identifying shifts in market sentiment.
🔶BTCSPL Value Score: The indicator optionally displays a value score ranging from -1 to 1, traders can use this to carry out strategic dollar cost averaging and reverse dollar cost averaging based on the implied value of bitcoin.
🔶Reversal Signals: The indicator gives long-term reversal signals denoted as "▲" and "▼" for the price of bitcoin based on oversold and overbought conditions of the BTCSPL.
🔶Moving Average Visualization: Traders can choose to display a moving average line, allowing for better trend identification.
How to Use ☝️ (summary):
Alpha Decay Adjustment: Toggle this option to enable or disable Alpha Decay adjustment for a normalized representation of the data.
Moving Average: Toggle this option to show or hide the moving average line, helping traders identify trends.
Short-Term Trend: Enable this option to display the short-term trend based on the Aroon indicator.
Rolling Change: Choose this option to visualize the rolling change in the distribution between profits and losses.
BTCSPL Value Score: Activate this option to show the BTCSPL value score, ranging from -1 to 1, 1 implies that bitcoin is extremely cheap(buy) and -1 implies bitcoin is extremely expensive(sell).
Reversal Signals: Gives binary buy and sell signals for the long term
Instant RSI (IRSI)
Instant RSI is tailored for users seeking an effective RSI indicator for charts with limited historical data, such as new symbols or very high time frame charts. Its distinctiveness lies in employing a Chebyshev filter, an innovative approach that allows the RSI to initiate calculations with just two data points. The Chebyshev filter, traditionally used in signal processing, helps in smoothing data while minimizing lag, a critical aspect in fast-moving financial markets.
Key Features:
Chebyshev Filter Integration: The Chebyshev filter is fine-tuned to mimic a 14-period RMA's behavior, enhancing the RSI's responsiveness and accuracy with minimal data.
Customizable RSI and MA Settings: Users can modify the RSI's source, length, ripple effect, and style. An optional moving average overlay, also based on Chebyshev filtering, tuned to mimic an EMA set to 14.
Divergence Detection: I have also included the ability to adjust the divergence settings to allow for more flexibility over the built in RSI.
The script operates by applying the Chebyshev filter to the price movement's up and down components, forming the basis of the RSI calculation. When the moving average feature is activated, it further processes the RSI value through the Chebyshev filter for additional smoothing. This dual application of the Chebyshev filter is central to the script's design, offering a unique solution for situations where traditional RSI calculations might be less reliable due to data scarcity.
The divergence detection feature enhances the script's utility by signaling potential trend reversals, critical for strategic decision-making in trading. These features are visually represented on the chart, ensuring that users can easily interpret and react to the indicators.
In general this indicator should produce the exact same output as the built in RSI. This indicator is specifically designed to be used in conditions where the built in RSI will not work due to limited data.
In summary, the "Instant RSI" script is a practical option for those dealing with limited data scenarios, offering a unique blend of Chebyshev filter application for more responsive market analysis.
Smart Money Oscillator [ChartPrime]The "Smart Money Oscillator " is a premium and discount zone oscillator with BOS and CHoCH built in for further analysis of price action. This indicator works by first determining the the premium and discount zones by using pivot points and high/lows. The top of this oscillator represents the current premium zone while the bottom half of this oscillator represents the discount zone. This oscillator functionally works like a stochastic oscillator with more sophisticated upper and lower bounds generated using smart money concept theories. We have included a moving average to allow the user to visualize the currant momentum in the oscillator. Another key feature we have included lagging divergences to help traders visualize potential reversal conditions.
Understanding the concepts of Premium and Discount zones, as well as Break of Structure (BoS) and Change of Character (CHoCH), is crucial for traders using the Smart Money Oscillator. These concepts are rooted in market structure analysis, which involves studying price levels and movements.
Premium Zone is where the price is considered to be relatively high or 'overbought'. In this zone, prices have risen significantly and may indicate that the asset is becoming overvalued, potentially leading to a reversal or slowdown in the upward trend.
The Discount Zone represents a 'discount' or 'oversold' area. Here, prices have fallen substantially, suggesting that the asset might be undervalued. This could be an indicator of a potential upward reversal or a pause in the downward trend.
Break of Structure (BoS) is about the continuation of a trend. In a bullish trend, a BoS is identified by the break of a recent higher high. In a bearish trend, it's the break of a recent Lower Low. BoS indicates that the trend is strong and likely to continue in its current direction. It's a sign of strength in the prevailing trend, whether up or down.
Change of Character (CHoCH) is an indication of a potential end to a trend. It occurs when there's a significant change in the market's behavior, contradicting the current trend. For example, in an uptrend characterized by higher highs and higher lows, a CHoCH may occur if a new high is formed but then is followed by an impulsive move downwards. This suggests that the bullish trend may be weakening and a bearish reversal could be imminent. CHoCH is essentially a sign of trend exhaustion and potential reversal.
With each consecutive BoS, the signal line of the oscillator will deepen in color. This allows you to visually see the strength of the current trend. The maximum strength of the trend is found by keeping track of the maximum number of consecutive BoS's within a window of 10. This calculation excludes periods without any BoS's to allow for a more stable max.
Quick Update is a feature that implements a more aggressive algorithm to update the highs and lows. Instead of updating the pivot points exclusively to update the range levels, it will attempt to use the current historical highs/lows to update the bounds. This results in a more responsive range at the cost of stability. There are pros and cons for both settings. With Quick Update disabled, the indicator will allow for strong reversals to register without the indicator maxing out. With Quick Update enabled, the indicator will show shorter term extremes with the risk of the signal being pinned to the extremities during strong trends or large movements. With Quick Update disabled, the oscillator prioritizes stability, using a more historical perspective to set its bounds. When Quick Update is enabled, the oscillator becomes more responsive, adjusting its bounds rapidly to reflect the latest market movements.
The Scale Offset feature allows the indicator to break the boundaries of the oscillator. This can be useful when the market is breaking highs or lows allowing the user to identify extremities in price. With Scale Offset disabled the oscillator will always remain inside of the boundaries because the extremities will be updated instantly. When this feature is enabled it will update the boundaries one step behind instead of updating it instantly. This allows the user to more easily see overbought and oversold conditions at the cost of incurring a single bar lag to the boundaries. Generally this is a good idea as this behavior makes the oscillator more sensitive to recent price spikes or drops, reflecting sudden market movements more accurately. It accentuates the extremities of the market conditions, potentially offering a more aggressive analysis. The main trade-off with the Scale Offset feature is between sensitivity and potential overreaction. It offers a more immediate and exaggerated reflection of market conditions but might also lead to misinterpretations in certain scenarios, especially in highly volatile markets.
Divergence is used to predict potential trend reversals. It occurs when the price of an asset and the reading of an oscillator move in opposite directions. This discrepancy can signal a weakening of the current trend and possibly indicate a potential reversal.
Divergence doesn't always lead to a trend reversal, but it's a warning sign that the current trend might be weakening. Divergence can sometimes give false signals, particularly in strongly trending markets where the oscillator may remain in overbought or oversold conditions for extended periods. The lagging nature of using pivot points to calculate divergences means that all divergences are limited by the pivot look forward input. The upside of using a longer look forward is that the divergences will be more accurate. The obvious con here is that it will be more delayed and might be useless by the time it appears. Its recommended to use the built in divergences as a way to learn how these are formed so you can make your own in real time.
By default, the oscillator uses a smoothing of 3 to allow for a more price like behavior while still being rather smooth compared to raw price data. Conversely, you can increase this value to make this indicator behave smoother. Something to keep in mind is that the amount of delay from real time is equal to half of the smoothing period.
We have included a verity of alerts in this indicator. Here is a list of all of the available alerts: Bullish BOS, Bearish BOS, Bullish CHoCH, Bearish CHoCH, Bullish Divergence, Hidden Bullish Divergence, Bearish Divergence, Hidden Bearish Divergence, Cross Over Average, Cross Under Average.
Below are all of the inputs and their tooltips to get you started:
Settings:
Smoothing: Specifies the degree of smoothing applied to the oscillator. Higher values result in smoother but potentially less responsive signals.
Average Length: Sets the length of the moving average applied to the oscillator, affecting its sensitivity and smoothness.
Pivot Length: Specifies the forward-looking length for pivot points, affecting how the oscillator anticipates future price movements. This directly impacts the delay in finding a pivot.
Max Length: Sets the maximum length to consider for calculating the highest values in the oscillator.
Min Length: Defines the minimum length for calculating the lowest values in the oscillator.
Quick Update: Activates a faster update mode for the oscillator's extremities, which may result in less stable range boundaries.
Scale Offset: When enabled, delays updating minimum and maximum values to enhance signal directionality, allowing the signal to occasionally exceed normal bounds.
Candle Color: Enables coloring of candles based on the current directional signal of the oscillator.
Labels:
Enable BOS/CHoCH Labels: Activates the display of BOS (Break of Structure) and CHoCH (Change of Character) labels on the chart.
Visual Padding: Turns on additional visual padding at the top and bottom of the chart to accommodate labels. Determines the amount of visual padding added to the chart for label display.
Divergence:
Divergence Pivot: Defines the number of bars to the right of the pivot in divergence calculations, influencing the oscillator's responsiveness.
Divergence Pivot Forward: Directly impacts latency. Longer periods results in more accurate results at the sacrifice of delay.
Upper Range: Sets the upper range limit for divergence calculations, influencing the oscillator's sensitivity to larger trends.
Lower Range: Determines the lower range limit for divergence calculations, affecting the oscillator's sensitivity to shorter trends.
Symbol: Allows selection of the label style for divergence indicators, with options for text or symbolic representation.
Regular Bullish: Activates the detection and marking of regular bullish divergences in the oscillator.
Hidden Bullish: Enables the identification and display of hidden bullish divergences.
Regular Bearish: Turns on the feature to detect and highlight regular bearish divergences.
Hidden Bearish: Activates the functionality for detecting and displaying hidden bearish divergences.
Color:
Bullish: Determines the minimum/maximum color gradient for bullish signals, impacting the chart's visual appearance.
Bearish: Defines the minimum/maximum color gradient for bearish signals, affecting their visual representation.
Average: Specifies the color for the average line of the oscillator, enhancing chart readability.
CHoCH: Sets the color for bullish/bearish CHoCH (Change of Character) signals.
Premium/Discount: Determines the color for the premium/discount zone in the oscillator's visual representation.
Text Color: Sets the color for the text in BoS/CHoCH labels.
Regular Bullish: Defines the color used to represent regular bullish divergences.
Hidden Bullish: Specifies the color for hidden bullish divergences.
Regular Bearish: Determines the color for hidden bearish divergences.
Divergence Text Color: Specifies the color for the text in divergence labels.
Doda StochasticThe Doda Stochastic Indicator is an oscillator designed to identify primary trends in asset price movements, operating on a scale from 0 to 100. It offers potential buying signals when it fluctuates between 0 and 20, and potential selling signals when it trends between 80 and 100. To reinforce the reliability of these signals, traders often complement them with price action indicators.
The indicator aims to display a modified version of the Stochastic Oscillator, highlighting filtered stochastic values along with related signals.
Traders often use Stochastic indicators to identify potential reversal points or overbought/oversold conditions in the market. The modified version might aim to reduce noise or improve signals compared to the standard Stochastic oscillator. Adjusting the input parameters can alter the sensitivity of the indicator to market movements.
It can also be used to identify trend by considering Doda Stochatic's Moving Average crossing the midline level. If it is above it is uptrend and if below midline then it is downtrend. It does not repaint. It is a lagging indicator because it heavily depends on Moving Averages.
What makes the Doda Stochastic Indicator unique is its attempt to eliminate false or misleading signals commonly found in standard stochastic tools. Instead of relying solely on the 20 and 80 markings for overbought and oversold conditions, it uses the crossing of the green and red lines within these segments to identify signals. However, fully grasping its functionality is pivotal to maximising its utility.
The indicator strategically analyses price movements by scrutinising key price levels, market momentum, and unexpected shifts in trends. By default, it operates with a bar count of 2000 and a PDS value of 13.0, parameters that have undergone extensive testing. It's important to note that tweaking these settings might not always be necessary, as they are well-calibrated.
How to Use the Doda Stochastic Indicator:
Setting up the Indicator:
- Begin incorporating the Doda Stochastic Indicator into your trading strategy once you're confident in identifying significant support and resistance levels.
Strategy with Doda Stochastic:
- Buy Signal Criteria:
- Asset displaying an upward trend.
- Green line crossing above the red line on the indicator.
- Confirm entry with bullish candlestick patterns.
- Set stop loss below the nearest swing low.
- Set take profit at the nearest resistance zone or exit when the green line crosses below the red line.
- Implement risk management with a risk-to-reward ratio of at least 1:2.
- Sell Signal Criteria:
- Asset demonstrating a downtrend.
- Green line crossing below the red line on the indicator.
- Confirm entry with bearish candlestick patterns.
- Set stop loss above the nearest swing high.
- Set take profit at the nearest support zone or exit when the green line crosses above the red line.
- Implement risk management with a risk-to-reward ratio of at least 1:2.
Advantages and Disadvantages:
Pros:
- Analyses crucial price levels, market momentum, and unexpected trend changes.
- Identifies overbought and oversold levels.
Cons:
- Overbought and oversold levels may not always lead to immediate price reversals.
- Signals might occasionally misinterpret a trend reversal as a correction, and vice versa.
The strength of the indicator lies in its intricate approach to price analysis and its effort to minimize false signals. However, traders should exercise caution and consider supplementary confirmation signals for more robust trade decisions.
Activity & Chop ScoreRelease Notes:
The Activity and Chop Score was designed to help traders quickly determine if a market is active and/or choppy (not moving with any urgency). Slow and chopping markets should be approached with caution or avoided.
How does it work? The Activity Score incorporates momentum and the linear regression. Momentum (change in price over time) is compared over a long and short time period. Active markets are when those are moving together. This is combined with a linear regression of the price to determine the Correlation Coefficient (r^2) to measure of trend strength. The score is a is the average of the two momentum values, normalized by the standard deviation, and scaled by the trend (r^2 value). Chop is defined as divergence between long and short momentum periods. The divergences (chop) are quantified with a Jaccard Similarity Score, normalized by the standard deviation, and averaged to create a score.
How can you use it? This indicator is best used on lower timeframes. Activity Scores Values below 1 are considered low and values over 2 are high. Avoid markets where the Activity Score is below 1. There is an alert threshold in the options. Pivots are worth paying attention too as well as they indicate the start and stop of a recent move. You can compare markets or assets with the Chop Score. You make chose to avoid those with higher Chop Score. The position of the two lines relative to each other are useful. Ideally, the Activity Score is higher than the Chop Score. As with any indicators, it should be used in combination with others that best suits your trading style.
Stochastic RSI Buy/Sell SignalThis indicator will show you a red circle above candles when Stoch RSI K value is greater than your "overbought" value, and a green circle above candles when Stoch RSI K value is below your "oversold" value. Updatable oversold and overbought values.
