Parabolic SAR [with Algorithm and Alerts]Hello All,
In one of my projects I needed Parabolic SAR algorithm. I decided to write it in Pine and publish it. Then I added Alerts and Labels. here it is ;)
ENJOY!
Komut dosyalarını "algo" için ara
BEST Algorithm Builder STOCKSHello traders 👋
I. 💎 SCRIPTS ACCESS AND TRIALS 💎
1. Every trial request access has to be done through my website.
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here: Daveatt profile status
3. Many video tutorials explaining clearly how all our indicators work are available on our website > guides section and also on website forum + Youtube
4. You may also contact me directly for more information regarding the trading method included in the indicator or how to access it
II. Forewords
(Screenshot based on $FCEL - FUELCELL ENERGY Inc.)
This indicator is for the SWING traders looking for fixed entries based on our proprietary trading method. It's a nice complement to any intraday method
We've been working on it for months and releasing now for our subscribers.
We mostly trade the US stocks with it due to personal preference but it's working also with other international stocks.
All stocks sectors (tech, aerospace, food, energy, financial, healthcare, ...) are eligible.
We've seen quite great signals with penny stocks/biotech/tech stocks.
III. Optimized system for lowering risk/capturing most of the opportunities
We worked hard on reducing the risk as much as we could.
The built-in hard-exit (also called invalidation) system does a huge job in exiting a position way before a Stop Loss will get hit
$TSLA (TESLA)
$SAVA (CASSAVA SCIENCES)
IV. Trade Manager and compatible with dynamic alerts
It includes :
- our proprietary method with fixed entries
- a hard exit system (built-in stop-loss)
- multiple options for user-defined stop-loss/take-profit settings (price value, distance in pips, percentage, trailing, ...)
- 🔔 Compatible with dynamic alerts 🔔
Dynamic alerts are bringing automated trading to a whole new level. The third-party solutions capturing TradingView alerts are able to use them.
- Algorithmic Supports and Resistances used as safeguards and take profit zones
Final words
We made it as simple as we could (to be honest it's a very simple system for the end-user) - even with several hundreds of calculations in the indicator.
Please hit me up for any questions/feedback/comments
Become the BEST trader you deserve to be
Dave
Ultimate Algorithm Builder (Single Trend)Hello traders
This is a fantastic tool to detect convergence between the following indicators :
Overlay - meaning if the price close above/below the SMA 50
Trend Signal - to detect if the the DOW law is broken and predict a possible reversal - en.wikipedia.org/wiki/Dow_theory
In other words, it detects if the higher highs or lower lows sequence is broken
MACD or MACD Zero Lag
MM Cross - Cross of moving averages
Ichimoku - if the price closes below/above the cloud
Supertrend - used to detect polarity zones
TSI Shadow - propieraty indicator - URL :
It's ultra flexible as you check which indicator you need in your own strategy. That's why I called it the Ultimate Algorithm Builder
Enjoy
Dave
CryptoMedics Algorithmic Trading BandsCryptoMedics are happy to announce the release of our new Algorithmic trading bands!
The Bands can be used as dynamic support and resistance levels. Anything from scalping on the 1m chart to swing trading on the daily. The opportunities are endless.
Developed using tried and tested methods that hedge funds from wallstreet to smart individual traders have used for years now. Now all available to you.
Here is an example of scalping with it on the 3m chart on BCHZ18. If you would've used 10x leverage you would've made a total of 760%!
Examples:
Another example on XBTUSD using the bands to catch a swing trade
These results are undeniably good and I bet you can't find similar ones with any other indicator!
CryptoMedics Algorithmic Trading Bands CryptoMedics are happy to announce the release of our new Algorithmic trading bands!
The Bands are used as dynamic moving support and resistance levels and can be used for anything from scalping on low timeframes to swing trading larger moves.
An example of this would be if a coin pumped 20% and you're expecting it to go up more you wait for it to return to either the upper middle or one of the core bands and long it there.
The amount of usecases for this indicator is endless.
Developed using tried and proven methods that everyone from private individuals to wallstreet hedge funds have used. Now available to CryptoMedics subscribers.
The indicator works across any assets since it isn't based on any pair-specific data but rather more broad data that exists on all trading pairs.
Market Rhythm Trading Algo with Super SignalsThe Market Rhythm trading algo is designed using many different confluence data points that gives you a virtually unlimited combination of settings to manage risk on any given underlying asset. Designed with flexibility in mind, Market Rhythm can be used on futures, stocks, options, and even crypto.
The current settings are what give you the most buy and sell signals. Be sure to change the 'Rate of Change' source to something like hl2 instead of close where it's set to get even more signals.
How to Use:
Regular vs Super - Market Rhythm includes a set of regular signals, which are given on many price bars. Super signals are a combination of regular signals based on a length of bars you set. This is an effective way to clean up the chart and give more reliable buy and sell signals.
The idea behind so many points of confluence is to give you many different ways to filter out the signals you don't want to trade, or just don't like trading. With built in filters using rate of change, rsi, and chop index, you can customize the feel of your signals based on your risk. You can even use the Settings1 and Settings2 and ADX to separate your risk management into 2 different market conditions. For lower ADX settings you can manage risk much tighter for choppier, less trending markets. For higher ADX settings you will be able to set your risk management based on stronger trends.
The Adaptive Average included also changes based on Settings1/2 to give you a better idea of changing market conditions.
The Moving Average Ribbon can be used to temper your decisions for entering or exiting a trade. For instance, if you receive a red (sell signal) during a strong up trend, and the Adaptive Average is green, and the MA Ribbon is all green, then you have a pretty good idea of whether or not its safe to stay in the trade or go ahead and take profit.
Depending on your favorite time frame, Market Rhythm can be used for intraday scalping, as well as, daily swing trading. Not sure if your favorite discord pump stock is ready to go up? Check it against Market Rhythm and you'll have a much better idea of whether it's still going up or if you've missed the move. Trade safer and happier with Market Rhythm.
The small green triangles are 'regular buy signals' and the larger green triangles are 'super buy signals'.
The small red triangles are 'regular sell signals' and the larger red triangles are 'super sell signals'.
Use this indicator against your levels or main strategy for maximum effectiveness.
Limitations:
This script does not mark reversals. It will only identify safe trade zones during periods of strong momentum.
Disclaimer:
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
Algorithmic ScalperAlgorithmic Scalper — Adaptive Trend-Cycle Trading System
Overview
Algorithmic Scalper is an advanced trend detection and signal generation tool designed for scalpers and intraday traders. Its primary goal is to help traders spot and confirm high-probability trend entries with precision. By combining a multi-layer trend detection engine, an ATR-driven trend structure, and EMA trend clustering, it delivers clear LONG, SHORT, OOT LONG (early countertrend long), and OOT SHORT (early countertrend short) signals that can be acted upon within a structured trading framework.
What It Does
Algorithmic Scalper analyzes price action across four core dimensions:
1. Trend Detection — Identifies the dominant trend using a 4-EMA trend cluster (customizable values: 20, 50, 100, 200), which provides the foundation for trend classification and signal labeling.
2. Cycle Timing — Uses a proprietary trend-cycle engine inspired by the Schaff trend approach. This engine applies smoothing and filtering across four internal phases to adapt to market shifts, making trend-confirmation significantly more robust compared to traditional RSI or Stoch-style indicators.
3. ATR Barrier Framework — Constructs a dynamic ATR-based trend zone, similar to advanced ATR trailing methods. This zone adjusts itself in real-time based on market volatility, allowing precise breakout detection and trend adherence.
4. Momentum Validation — Incorporates a MACD-style momentum measure (differential EMA + signal line) that confirms trend strength and trend changes.
5. Signal Alert - Supports built‑in alerts, allowing traders to be notified instantly when a new signal is triggered, so they can stay engaged with the market even when away from the screen.
How It Works
The indicator uses the interplay between these elements to classify price action into one of four actionable states:
1. LONG: Strong trend-confirmation signal aligning trend, momentum, and ATR structure.
2. SHORT: Strong trend-confirmation signal for downside movement.
3. OOT LONG: Early warning for a countertrend long entry when price is stretched away from the trend zone, ideal for reversal or scalp strategies.
4. OOT SHORT: Early warning for a countertrend short entry when price is extended to the upside.
Result: Each signal is calculated only when trend, trend-cycle, momentum, and ATR align, making the entries highly selective and aligned with market structure.
How To Use It
1. Confirm the Context: Always assess the signal within the current market structure. Use higher timeframes to confirm trend direction and strength.
2. Act According to the Signal Type:
-- LONG / SHORT: Enter trend-following positions when trend and momentum align. These signals are ideal for breakout or trend-confirmation trades.
-- OOT LONG / OOT SHORT: Enter countertrend positions when price is extended from its trend zone and confirmed by trend-cycle shifts. These are higher risk and require tighter risk controls.
Why It Is Unique
1. Integrates trend detection, trend-cycling, ATR trend structure, and MACD-style momentum into a single streamlined tool.
2. Goes beyond simple EMA ribbons by adding adaptive trend-cycle filtering for higher precision trend detection.
3. Provides four clearly classified signal types for both trend and countertrend setups.
4. Enables traders to clearly understand the market state, making it ideal for both breakout/trend and reversal strategies.
Apply Risk Management
Never use signals in isolation. Maintain a pre-defined risk/reward ratio, utilize stop losses, and adapt position sizes according to market volatility and personal risk tolerance.
Timeframe Selection
The indicator is optimized for 5-minute and 15-minute charts, making it ideal for scalping and active intraday strategies.
Best Suited For
Scalpers, intraday traders, and active market participants.
Important Notes
The signals generated by Algorithmic Scalper are meant to support decision-making. They should always be used in conjunction with sound trading knowledge, risk management practices, and personal market analysis.
The indicator does not guarantee outcomes and should not be treated as a standalone buy/sell tool. Its value lies in providing actionable trend context, allowing traders to make confident decisions.
This tool is built to evolve as market dynamics evolve, making it a robust long-term addition to any trading toolkit.
License
This indicator was developed by the ProphetAlgoAI team. Its use is restricted to TradingView under a private, invite-only agreement. Redistribution or use outside TradingView is strictly prohibited unless explicitly authorized by the ProphetAlgoAI team.
QaSH DCA AlgorithmQaSH DCA Algorithm implements a DCA strategy that takes advantage of price volatility by buying dips to average down, and adjusting price targets as the break-even price gets lower.
How does the DCA strategy work?
When the specified entry condition has occurred, the indicator will set up several limit orders below the current price. If price goes up a specified amount, then the layers will be overwritten at the higher prices. If price goes down and fills the first layer (limit order), then the Take Profit price is plotted and will be sent in an alert. If more layers are filled, then the TP price will move down accordingly as it’s based on the average entry price (alerts on each TP update). This action of lowering the average entry and TP price mitigates your risk, and increases the likelihood of a Take Profit event happening. More entry conditions will be added as time goes on, although complex entry conditions are not necessary for the strategy to work. All the meat of the DCA strategy is in the layer placement, order volume , and TP %.
How does this differ from other DCA bots?
1) The layer placements, order volume , and “take profit %” for each layer or “safety order” is much more customizable than what you get from other services. For example, I can choose to have my TP% change, depending on how big the price dip was. Maybe on safety order 1 I want 10% TP, but on safety order 7 might want a 2% TP.
2) Settings optimization. You can take advantage of the replay feature and see how trades would have played out, and how much PnL you would have made (strategy version is coming soon)
3) You can use this indicator on more than just crypto. You can easily set up alerts for manual trades on stocks, or you can integrate it with your stock broker API of choice and automate your trades.
4) When combining this with an automation service, you will get unmatched execution speed by running it on your dedicated machine.
5) I can offer a lifetime subscription to the indicator upon request.
What kind of market is it best used on?
QaSH DCA Algorithm is best used on cryptocurrencies and stocks, and it is best used on assets that are volatile. That means large swings up and down. Also I recommend running this on many uncorrelated assets at the same time.
What settings should I use?
The default settings are decent for most markets, and provide a good balance between profit potential and downside protection, although you can use a wide variety of settings. In a strong bull market its best to either bring up your layers to catch smaller dips, or you can go big on the first few layers (maybe 4 layers, 25% on each layer for example). In a sideways or brearish market you'll want more downside protection, so you'll want the larger orders to be at lower prices.
What should I do if price goes below my last layer?
The best solution is to keep a cash reserve on the side at all times. If price looks like it has reached a low point below your lowest layer, then manually buy more to average down further. This action will help it along and get you in the green sooner.
Disclaimer: In order to get a large position in an asset, you need to have most of your layers fill. That means you have to be comfortable with buying more as the price goes down, patiently waiting for the bounce that occurs afterward. This is the working principle of Dollar Cost Averaging, and it's a proven method for most markets.
Dual Thrust Trading Algorithm (ps4)This is an PS4 update to the popular Dual Thrust trading algorithm posted by me some time ago (). It has been commonly used in futures, Forex and equity markets. The idea of Dual Thrust is similar to a typical breakout system, however dual thrust uses the historical price to construct update the look back period - theoretically making it more stable in any given period.
See: www.quantconnect.com
Algo BOT 3.0Algo BOT 3.0 is a sophisticated, rule-based intraday trading strategy designed for index option traders who seek high-probability entries based on market structure, institutional zones, and controlled risk management. This strategy intelligently identifies BUY and SELL trade opportunities using price action, Fibonacci retracements, and pivot confluences, layered with dynamic trade management through trailing stop loss (TSL) and predefined profit/loss thresholds.
🔍 Strategic Foundation
Algo BOT 3.0 combines multiple proven intraday trading concepts into a single unified system:
Candle Behavior Analysis:
Detects strong green (bullish) and red (bearish) candles based on configurable range filters, wick/body ratios, and volume-backed movement.
Ensures only impactful candles are considered for signal generation, filtering out noise.
Dynamic Candle Range Filtering:
Filters out low-momentum candles by comparing their range against a dynamically calculated threshold (based on recent 30-minute close).
Prevents premature or weak entries by focusing on high-volatility structures.
Fibonacci Entry Zones:
Automatically calculates 0.382 and 0.618 Fibonacci levels between the most recent key candles (highest green & lowest red).
These fib levels are used to define entry zones for BUY (above red fib 0.382) and SELL (below green fib 0.382).
Optional fib zones can be visually shown on the chart with real-time drawing.
📈 Signal Generation Logic
The core BUY/SELL signals are triggered based on a combination of:
Green/Red Candle Identification:
A green candle qualifies if:
Open is near the bottom 38.2% of its range.
Close is above the top 61.8% of the range.
High is above a pivot or institutional level.
A red candle qualifies if:
Open is near the top 38.2% of its range.
Close is below the bottom 61.8% of the range.
Low is below a pivot or institutional level.
Support/Resistance Touch Confirmation:
Signals are only considered valid if the qualifying candle touches:
CPR Top/Bottom
Daily Pivot Points (PP, R1–R4, S1–S4)
VWAP or MVWAP
CE Entry (BOT BUY):
Occurs when the price crosses above red fib 0.382 after red candle touch at support.
PE Entry (BOT SELL):
Occurs when the price crosses below green fib 0.382 after green candle touch at resistance.
Signal Controls:
Only one active signal per type (BUY/SELL) at a time.
Real-time tracking of active trade with condition-based resets.
🎯 Exit Management
Built-in risk and profit control with dynamic logic:
Trailing Stop Loss (TSL):
TSL is dynamically adjusted based on peak price after entry.
Trail distance is customizable via input (% below peak).
Visual alerts notify when TSL is hit.
Profit Target:
Trade exits automatically when desired % profit is achieved from entry.
Loss Limit:
Trade exits immediately if unrealized loss exceeds a set % threshold.
Helps prevent large drawdowns during volatile market moves.
🧠 Technical Indicator Integration
To enhance trade accuracy, the strategy includes several optional filters:
RSI: Momentum confirmation or divergence filtering.
SMA/EMA: Trend direction confirmation.
MVWAP: Modified VWAP for smoother institutional bias tracking.
🖼️ Visuals & Alerts
BOT BUY and BOT SELL Signal Labels appear directly on the chart with trade type and candle reference.
TSL, Target, and SL Exits shown as label markers with optional background highlight.
Live Alerts:
BOT BUY (CE Entry)
BOT SELL (PE Entry)
Trailing Stop Loss Triggered
Profit Target Hit
Stop Loss Triggered
⚙️ Customizable Settings
Users can fine-tune the strategy using the following input options:
MVWAP Length
RSI / SMA / EMA Lengths
Candle Range Sensitivity
TSL Distance (%)
Profit Target (%)
Loss Limit (%)
Enable/Disable Background Highlights & Labels
Display Fib Zones
⏱️ Best Use Case & Timeframes
Position and Risk Calculator (for Indices) [dR-Algo]Position and Risk Calculator : Your Ultimate Risk Management Tool for Indices
The difference between a novice and a seasoned trader often comes down to one essential element: risk management. While trading indices, the challenges are even more intense due to market volatility and leverage. The Position and Risk Calculator steps in here to bridge the gap, providing you with an efficient tool designed exclusively for indices trading.
Key Features:
User-Friendly Interface: Designed to integrate effortlessly with your TradingView chart, this tool's interface is intuitive and clutter-free.
Dynamic Price Level Adjustment: Move your Entry, Stop Loss, and Take Profit levels directly on the chart for an interactive experience.
Account Balance Input: Customize the tool to understand your unique financial situation by inputting your current account balance.
Trade Risk Customization: Define how much you're willing to risk per trade, and the tool will do the rest.
Automated Calculations: The indicator calculates the maximum monetary risk and translates it into the maximum lot size you can afford. It delivers a full-integer lot size to make your trading decisions easier.
Comprehensive Risk Evaluation: Beyond lot sizes, it provides you with the Cost-to-Reward Ratio (CRV) of your trade, the actual monetary risk according to the calculated lot size, and the potential profit.
How To Use:
Once you add the Position and Risk Calculator to your TradingView chart, a new interactive panel appears. Here’s how it works:
Set Price Levels: Using draggable lines on the chart, set your Entry Price, Stop Loss, and Take Profit levels.
Account Details: Go to settings and enter your Account Balance and your desired risk percentage per trade.
Automatic Calculations: As soon as the above details are set, the indicator goes to work. It first calculates your maximum risk in monetary terms and then translates that into the maximum lot size you can take for the trade.
Review and Trade: The indicator shows you all the vital statistics - CRV of the trade, the money at risk according to the calculated lot size, and the possible profit.
Why Choose This Tool?
Informed Decisions: Your trading decisions will be based on concrete numbers, removing guesswork.
Time-saving: No need for manual calculations or using separate tools; everything is in one place.
Focus on Trading: By automating the risk management aspect, this tool allows you to focus more on your trading strategy and market analysis.
Tailor-Made for Indices: Unlike many other tools that try to serve all markets, the Position and Risk Calculator is designed specifically for indices trading.
Remember, effective risk management is what separates successful traders from those who burn out. The Position and Risk Calculator not only helps you define your risk but also helps you understand it, empowering you to trade with confidence.
So why not give yourself the best chance of success? Add the Position and Risk Calculator to your TradingView setup and experience the difference it can make.
RSI Algo (Pinescript v5 + Alerts)Found this the other day and thought it might be useful to have an updated version with alerts:
Credit to the original author.
Cluster Algo (Skoda Version)This Indicator operates similarly to the Cluster Algo marketed elsewhere. The key difference is the integration of Bollinger Bands, giving us clear indications.
Buy - When the signal line goes above the Bollinger basis line and is GREEN
Sell - When the signal line goes below the Bollinger basis line and is RED
Consider closing the trade when the signal line changes colour.
When the signal line goes outside the Bollinger band, this a strong indication price will rally.
If you require any further information or script modifications, please message me.
PLEASE CHECK OUT MY OTHER SCRIPTS
Dual Thrust Trading AlgorithmThe Dual Thrust trading algorithm is a famous strategy developed by Michael Chalek. It has been commonly used in futures, forex and equity markets. The idea of Dual Thrust is similar to a typical breakout system, however dual thrust uses the historical price to construct update the look back period - theoretically making it more stable in any given period.
AK MACD BB INDICATOR V 1.00Here's my version of the MACD _BB . This is a great indicator to capture short term trends.
yellow candles = long
aqua candles = short
This indicator can be much better. I will work on it and publish an improved version (hopefully) soon. In the mean time , go ahead and play around with the code, and please share your findings :)
Cheers
Algo
AK TREND ID v1.00Hello,
"Are we at the top yet ? "........ " Is it a good time to invest ? " ......." Should I buy or sell ? " These are the many questions I hear and get on the daily basis. 1000's of investors do not know when to go in and out of the market. Most of them rely on the opinion of "experts" on television to make their investment decisions. Bad idea.Taking a systematic approach when investing, could save you a lot of time and headache. If there was only a way to know when to get in and out of the market !! hmmmm. The good news is that there many ways to do that. The bad news is , are you disciplined enough to follow it ?
I coded the AK_TREND ID specifically to identified trends in the SPX or SPY only . How does it work ? very simply , I simply plot the spread between the 3 month and 8 month moving average on the chart.
If the spread > 0 @ month end = BUY
if the spread < 0 @ month end = SELL
The AK TREND ID is a LAGGING Indicator , so it will not get you in at the very bottom or get you out at the very top. I did a backtest on the SPX from 1984 to 7/2/2014 (yesterday), The rule was to buy only when the AK TREND ID was green. let's look at the result:
14 trades : 11 W 3 L , 78.75 % winning %
Biggest winner (%) = 108 %
Biggest loser (%) = -10.7 %
Average Return = 27 %
Total Return since 1984 = 351.3 %
You can see the result in detail here : docs.google.com
Although the backtesting results are good, the AK TREND ID is not to be used as a trading system. It is simply design to let you know when to invest and when to get out. I'm working a more accurate version of this Indicator , that will use both technical and fundamental data. In the mean time , I hope this will give some of you piece of mind, and eliminate emotions from your trading decision. Feel free to modify the code as you wish, but please share your finding with the rest of Trading View community.
All the best
Algo
Jurik Moving AverageJurik Moving Average (JMA) – Precision Smoothing with Adaptive Filtering
📌 Version: This script is written in Pine Script v6, utilizing advanced array handling and dynamic filtering for improved performance.
📌 Overview:
The Jurik Moving Average (JMA) was originally developed by Mark Jurik and is widely recognized for its ability to provide smooth trend-following signals with minimal lag. Unlike traditional moving averages, which suffer from a tradeoff between responsiveness and smoothness, JMA employs an adaptive smoothing algorithm that dynamically adjusts based on market conditions, reducing false signals while maintaining trend accuracy.
This version of JMA has been implemented in Pine Script v6 with enhancements that make it even more efficient for TradingView users. By utilizing advanced array-based calculations, logarithmic scaling, and cycle-based filtering, this implementation delivers an optimized, customizable, and high-performance smoothing indicator.
📌 How It Works:
✅ Adaptive Filtering: Dynamically adjusts smoothing based on price volatility.
✅ Cycle-Based Adjustments: Uses historical price action to fine-tune lag vs. responsiveness.
✅ Advanced Phase Control: Traders can shift the moving average forward or backward to optimize signal alignment.
Unlike existing open-source JMA implementations, this version features:
🔹 Enhanced Array-Based Calculations for better memory management & performance.
🔹 Logarithmic and Square Root Scaling to dynamically adjust phase & smoothing.
🔹 Improved Noise Reduction Techniques to minimize false breakouts.
📌 How to Use:
🔹 Trend Confirmation: Use JMA to validate trend direction and avoid whipsaws.
🔹 Trade Entries & Exits: Combine with price action or momentum indicators for refined entry/exit points.
🔹 Scalping & Swing Trading: Ideal for short-term and long-term strategies due to its adaptability.
📌 Why This Version is Unique:
This JMA expands on standard implementations by incorporating multi-level cycle smoothing, phase correction, and adaptive noise filtering. The result? A more precise, stable, and robust trend indicator that performs better than existing open-source versions.
Murrey Math
The Murrey Math indicator is a set of horizontal price levels, calculated from an algorithm developed by stock trader T.J. Murray.
The main concept behind Murrey Math is that prices tend to react and rotate at specific price levels. These levels are calculated by dividing the price range into fixed segments called "ranges", usually using a number of 8, 16, 32, 64, 128 or 256.
Murrey Math levels are calculated as follows:
1. A particular price range is taken, for example, 128.
2. Divide the current price by the range (128 in this example).
3. The result is rounded to the nearest whole number.
4. Multiply that whole number by the original range (128).
This results in the Murrey Math level closest to the current price. More Murrey levels are calculated and drawn by adding and subtracting multiples of the range to the initially calculated level.
Traders use Murrey Math levels as areas of possible support and resistance as it is believed that prices tend to react and pivot at these levels. They are also used to identify price patterns and possible entry and exit points in trading.
The Murrey Math indicator itself simply calculates and draws these horizontal levels on the price chart, allowing traders to easily visualize them and use them in their technical analysis.
HOW TO USE THIS INDICATOR?
To use the Murrey Math indicator effectively, here are some tips:
1. Choose the appropriate Murrey Math range : The Murrey Math range input (128 by default in the provided code) determines the spacing between the levels. Common ranges used are 8, 16, 32, 64, 128, and 256. A smaller range will give you more levels, while a larger range will give you fewer levels. Choose a range that suits the volatility and trading timeframe you're working with.
2. Identify potential support and resistance levels: The horizontal lines drawn by the indicator represent potential support and resistance levels based on the Murrey Math calculation. Prices often react or reverse at these levels, so they can be used to spot areas of interest for entries and exits.
3. Look for price reactions at the levels: Watch for price action like rejections, bounces, or breakouts at the Murrey Math levels. These reactions can signal potential trend continuation or reversal setups.
4. Trail stop-loss orders: You can place stop-loss orders just below/above the nearest Murrey Math level to manage risk if the price moves against your trade.
5. Set targets at future levels: Project potential profit targets by looking at upcoming Murrey Math levels in the direction of the trend.
7. Adjust range as needed: If prices are consistently breaking through levels without reacting, try adjusting the range input to a different value to see if it provides better levels.
In which asset can this indicator perform better?
The Murrey Math indicator can potentially perform well on any liquid financial asset that exhibits some degree of mean-reversion or trading range behavior. However, it may be more suitable for certain asset classes or trading timeframes than others.
Here are some assets and scenarios where the Murrey Math indicator can potentially perform better:
1. Forex Markets: The foreign exchange market is known for its ranging and mean-reverting nature, especially on higher timeframes like the daily or weekly charts. The Murrey Math levels can help identify potential support and resistance levels within these trading ranges.
2. Futures Markets: Futures contracts, such as those for commodities (e.g., crude oil, gold, etc.) or equity indices, often exhibit trading ranges and mean-reversion trends. The Murrey Math indicator can be useful in identifying potential turning points within these ranges.
3. Stocks with Range-bound Behavior: Some stocks, particularly those of large-cap companies, can trade within well-defined ranges for extended periods. The Murrey Math levels can help identify the boundaries of these ranges and potential reversal points.
4. I ntraday Trading: The Murrey Math indicator may be more effective on lower timeframes (e.g., 1-hour, 30-minute, 15-minute) for intraday trading, as prices tend to respect support and resistance levels more closely within shorter time periods.
5. Trending Markets: While the Murrey Math indicator is primarily designed for range-bound markets, it can also be used in trending markets to identify potential pullback or continuation levels.
Algorithm Builder - Single Trend+ (Plug&Play)Hello traders
I. SCRIPTS ACCESS AND TRIALS
1. For the trial request access, they have to be done through my website .
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. You may also contact me directly for more information
II. Algorithm Builder - Single Trend+ Plug&Play
2.1 Concept
That script is an upgrade of the Single Trend:
The Algorithm Builder - Single Trend+ (Plug & Play) is made to detect the convergence of many unrelated indicators, and give a BUY or SELL signal whenever all the selected sub-indicators are converging in the same direction.
The Single Trend+ (Plug & Play) gives one single entry per identified trend - unlike the Multiple Trends editions (also available on my scripts page) which may give more than 1 entry per trend.
The traders select the sub-indicators they want, and see in real-time the BUY and SELL triangles being updated.
III. Plug & Play
Hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
In TradingView, there is a feature called "Indicator on Indicator" meaning you can use an external indicator as a data source for another indicator.
I'm using that feature to connect any external indicator to our Algorithm Builder Single Trend+ Plug & Play (hence the plug and play name).
Let's assume you have your RSI divergence indicator - which is not part of the Algorithm Builder - but noticed that the convergence of an RSI divergence and a MACD gives strong signals.
I mentioned an RSI divergence, but you may connect any oscillator (MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillator (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
Any indicator that displays visual signals are eligible for this feature .... in other words.... all possible indicators. You're welcome :)
THE SKY IS (or more likely your imagination) is the limit :)
Fear no more. The Plug&Play technology allows you to connect it and use it in the convergence/confluence calculations.
Hence, whenever the MACD and RSI divergence will be in the same direction for the first time, you'll get a signal. For the first time only because this is a Single trend edition - you may enter multiple times using our Algorithm Builders - Multiple Trends editions.
To connect your external indicator to ours, we're using a native TradingView feature, which is not available for all users.
It depends on your TradingView subscription plan ( More info here )
If you intend to use our Algorithm Plug&Play indicator, and/or our Backtest Plug&Play suites, then you must upgrade your TradingView account to enjoy those features.
We value our relationship with our customers seriously, and that's why we're warning you that a compatible TradingView account type is required - at least PRO+ or PREMIUM to add more than 1 Plug&Play indicator per account.
We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature
IV. Why the Algorithm Builder Single Trend+ (Plug&Play) may help you
I worked with many traders during my career, and their feedback about trading is often pretty similar.
They all tried a lot of complicated indicators, losing their capital, and finally getting back to the basics (even to the basic indicators if I might say)
The art is finding a good combination of indicators and setting strict money/risk management rules.
Easy in concept, but more than 90+% of traders lose money on the markets... which teach us that trading is not only about drawing trendlines, or using cool indicators but finding ways to ease our psychology while trading.
4.1 The Algorithm Builder trading framework
The sub-indicators (full list on our website) weren't chosen randomly. They're based on a trading method we've developed over the last 6 years - while working with traders and other trading quants.
The Algo Builders are made to detect a convergence - and as such, will give a signal once a trend has been identified.
They're not made to detect reversal but have been designed to give a signal when all sub-indicators are either ALL bullish (green) or ALL bearish (red).
We provide a framework based on indicators we selected because they:
1. make sense to be used altogether
2. work on asset classes like INDEX, CRYPTO, STOCK OPTIONS, FOREX, COMMODITIES
3. it may expand your knowledge about what detecting a convergence with pre-selected indicator really means
4.2 Supports and Resistances
The indicator displays the main algorithmic supports and resistances according to our trading method.
I think they're relevant for all asset classes, but you're absolutely free to use any different supports/resistances logic if you want to.
I'm not against it because I know that pivots, Fibonacci levels, etc. may work very well also.
4.3 Choose your favorite risk management algorithm
1/ Pre-defined Algo S/R method using:
- a supertrend of the stop-loss
- the nearest algorithmic resistances for the take profit levels.
2/ Define your own Stop-loss and Take-profits level in real-time
Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing: This is a very awesome feature. The stop-loss is set 2% away when the trades start.
When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven).
When the TP2 is hit, the SL is moved to the previous TP1 position
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
Take Profits Management
You can manage up to 2 take profit levels defined as a percentage or price value.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
4.4 Built-in Trade Manager
This is very likely the most loved utility script that we shared on TradingView.
It's included in your Algorithm Builder - Single Trend+, and will certainly help you immensely to analyze your charts and your trades.
We made sure that all the graphical elements on the chart will be updated in real-time whenever our user change anything on the indicator configuration.
You'll also be able to change the Trade Manager labels positions as you wish :)
4.5 Built-in Risk-to-Reward Panel
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
It displays for the selected trading algorithmic (see 2.3.2 above), a ton of useful real-time analytics.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1: Distance (in currency/units) between the entry price and the first take profit
- Entry TP2: Distance (in currency/units) between the entry price and the second take profit
- Risk/Reward TP1: Using the Stop-loss distance at entry, and Take Profit 1 at entry to compute the risk-to-reward ratio.
- Risk/Reward TP2: Using the Stop-loss distance at entry, and Take Profit 2 at entry to compute the risk-to-reward ratio.
For more details, please check the guides section of my website. Links are in my signature and profile status.
4.6Hard Exits
Our trading method is known for the hard exits, also called invalidation.
The Single Trend+ includes a hard exit based on a MACD - settings are flexible and you may update them.
Having a stop-loss protecting your trade is a best practice - Protecting your stop-loss also from getting hit is incredible.
We prefer invalidate a few positions, even if sometimes we don't want to. Rather than the market hard exiting on us, and leaving with our hard-working money.
4.7 Alerts
Alerts are enabled for:
- BUY/SELL triangles signals
- Trade Manager (SL, TP1, TP2)
- Hard Exits
V. Pain points that we're trying to solve with our Algorithm Builders
Issue #1 There are many informations / indicators / strategies / backtests / noise. Finding the right ones is not a simple task.
Solution #1 A reliable system that removes the external noise is much needed in trading to stay "in the game".
Issue #2 Trading could be quite stressful - The majority doesn't lose in trading because technical analysis is hard, but because managing our psychology is one of the hardest things a human can do.
Solution #2 Some ways to reduce the "trading stress" could be: getting better quality signals and trading like a "machine". Forgetting about Twitter and trusting the system you designed.
Issue #3 Trading without strict rules and only based on what we feel, or what we think the market should do is the fastest way to kiss our money goodbye.
Only 1 indicator generally is not enough. Traders generally use a combination of several indicators but they're monitoring them individually.
It's normal then to feel exhausted at the end of the day ^^ (to say the least)... and exhaustion leads to mistakes which leads to..... (I'm sure you got it) ... capital loss.
Solution #3 As a trader, I needed a trading framework and a method. I offer our trading method but they're plenty others out there. We cannot claim obviously it's the best ever ....but let's say we're using those exact same
scripts ourselves for our trading. And this what we've been recommending our clients to trade with for the past years. Also, having a tool detecting the convergence of several indicators and giving 1 unique signal
for BUY/SELL position will save you a lot of time/energy, and perhaps might help you out getting better trading performance.
VI. Resolving a complex puzzle and having fun in the process
Trading has to stay a passion and not (only be) a source of intense stress.
The most successful traders I know are "trading geeks" - literally always looking for optimizing, searching for the best possible entries, setups, indicators, tools, etc.
For them, it's not even about the money anymore, but only about beating their previous performance.
Why are they doing this? Because it's fun
Might appears as a bold statement, but I guarantee that looking for setups is fun.
One of our users even told us, that it's like playing with "Legos" and we couldn't possibly agree more.
VII. Designing a system that "makes sense"
Another bold statement now. Brace yourselves ladies and gentlemen
The Algorithm Builders allow to design trading systems quickly. What could takes days/weeks/months to find out... might be now within your reach in less than a few hours.
With a bit of practice, less than an hour might be enough per asset/timeframe to find a system that makes sense to you and adapted to your trading capital and psychology.
Assuming our users read our guides and are fully committed to learning a new way of trading - then we do guarantee you'll be able to design kick-ass trading systems that make sense.
"Making sense" doesn't mean at all it's guaranteed to win, it means you're the one defining the convergence of indicators, using your Algorithm Builder, and observe that most of the time - whenever there is a BUY signal, the candlesticks are going upwards - whenever there is a SELL signal, it's going downwards.
This is a necessary step to make real progress from a trading analyst perspective - and hopefully could lead to profits.
VII. Algorithm Builder versus the main trader enemy(=psychology)
This indicator has the goal to help solving one of the MAIN issues encountered by traders.
Most of traders realize, they can't perform with only 1 indicator (or 1 price pattern or 1 price action) and need a combination of multiple indicators before getting in a trade.
Far from being a magic pill, if it could at least reduce the stress you have while trading, then we'll consider we made a great job - it's a technical "useless noise remover", and needs to be followed strictly.
Such trust in a trading system can only be built by testing your Algorithm Builder configuration on either:
1. a demo account
2. or a live account with small bids. And then, increasing progressively the bids if your capital increases progressively.
Though, you should still use your common sense. (for instance: if we get a BUY signal right on a big timeframe resistance we're hitting for the first time).
I'm aware this is a new way of trading but for many, and while we cannot foresee the future, neither predict performance, we believe it might save you a lot of time to find good signals.
My maximum level of happiness will be reached the day when our users will contact me and showing me setups being mine.
I'm sure that even I can learn from my users and, we can all learn from each other Algorithm Builder configuration
VIII. What is a wrong or bad configuration?
Simply put. If you see that most of your signals react such as described below:
1. a buy triangle predicts, most of the time an upwards move
2. a sell triangle predicts, most of the time a downwards move
3. you estimated yourself the stop-loss needed to give enough room for your trades.
4. take profits based on algorithmic support and resistances or your own take profit method.
So what's a good Algorithm Builder configuration? A configuration you're happy with and makes sense.
A better Algorithm Builder setup is one used in demo or a live account w/ small bids for a few weeks, and you're consistent in your trading performance.
If you have any doubt or question, please hit me up directly or ask in the comments section of this script.
I'll never claim I have the best trading methodology or the best indicators. You only will be the judge, and I'll appreciate all the questions and feedback you're sending my way.
They help me a ton to develop indicators based on all the requests I received.
Kind regards,
Dave
