Volume Bars and Regions of InterestThe bars are colored according to the volume traded. The volume weights were distributed logically for a better analysis.
<0.666 low volume
0.666 to 1.333 median volume
1,333 to 2,666 high volume
> 2,666 'institutional' volume
The moving average bands are the average of the highs and lows. They show a region of interest and not just a 'line'.
Komut dosyalarını "bar" için ara
RSI BAR COLOR (KETT)RSI BAR COLOR
1) White - looking for a long
2) Orange - looking for a short
3) Gray - think
//-----------
1) Белый - ищем вход в LONG
2) Оранжевый - ищем вход в SHORT
3) Серый - думаем
Dreadblitz BarsThese bars can give you good opportunities if you know how to analyze the context.
blue=bullish
black=bearish
thumbs up
[LunaOwl] RSI 美國線 (RSI Bar, RSIB)Last year, I saw someone using the candle innovation called "RSI Candle" or "RSIC". so let me have the idea of making RSIB. the Candlestick was Steve Nison in the 1990s. He introduced the concept from Japan to America and published it in the book "Candlestick Course". Welles Wilder is the creator of the relative strength index. after several years of commodity trading, Wilder focused on technical analysis. In 1978 he published "New Concepts in the Technology Trading System". RSI is the new momentum oscillator mentioned in the book. then, if you use Bars to display RSI, it might be an artistic idea. everyone is familiar with the method of use.
以前看過人家使用 " RSI 蠟燭線 "(RSIC)的版本,於是就想做一下美國線的版本。1990年代史蒂夫.尼森將蠟燭線的概念從日本引進華爾街,並在《陰線陽線》詳細介紹;威爾德是 RSI 的作者,做商品交易的他專注於研究技術分析,1978年他出版《技術交易系統新概念》提到了這個。如果用美國線表示 RSI 會是另一個模樣。至於它的用法大家都很熟悉了。
The purpose of publishing Chinese Scripts is to make Pine close to more Chinese user.
發布中文腳本的目的,是希望可以讓 Pine 親近更多中文圈的使用者。
Inside Bar Visualizer PineV4I didn't find a study for Inside bar as I wanted. Therefore I wrote a one with PineV4. This may help you to see inside bars.
It can recalculate and works with either (opens-closes) or (highs-lows)
Cheers! :)
Volume & Dollar BarsThis scriptlet is a part of an ongoing project and attempts at volume and dollar bar identification. The original idea is taken from excellent books 'Hands-On Machine Learning for Algorithmic Trading' (2019) by Stefan Jansen and 'Advances in Financial Machine Learning' (2018) by Marcos Lopez de Prado.
Statement of Purpose
I am an advocate of Open source and against those who publish their code with a lock icon. My code and ideas are aimed at people with critical thinking, who are able to take an informative and responsible decision when it comes to investing their funds. I do not guarantee that all of my ideas will perform well. As usual, they require a certain degree of your sound judgment. My final aim is to provide you with coding techniques that you could use in your own scripts and strategies.
Improved Volume Bars IVB"IVB" is an attempt to improve volume analyze using classical volume bars , focusing on market cycle phase recognition and noticing cycle onset/peak points
V.01
Chart Theme - Change Bar and Background Colors using HEX #sAdds aesthetic ability to charts by allowing the trader to change the color of the bars, background, and plots using HEX colors, rather than TradingView's limited color selector box. This makes for easy application of color palettes to charts. The color palettes can be saved as indicators and applied quickly, as desired.
HiLo high low bar chart type, patternsmartThis is the HiLo style bar type, it's a built-in chart type in some other platfomrs.
//For any custom programming task on any platform, please contact us
Inside Bar Breakout FailureSimple indicator to highlight Inside Bar Breakout Failure patterns on chart.
Rob Hoffman's Inventory Retracement Bar - by UCSgearsClaims by Rob Hoffman
Developed and used to win trading competitions around the world, the Hoffman Inventory Retracement Trade is quickly becoming one of the most popular ways to identify where short-term counter trend institutional inventory has subsided and when it’s time to re-enter into a trade’s original trend direction.
I have not included the TREND condition.
- Enjoy
Rob Hoffman Inventory Retracement Bar - tradersonline-mag.com
Magnus Doesn't Share (Line Area Bars)Line style chart similar to Cryptowat.ch and Bitcoinwisdom. Set your bar style to line!
LX Rsi Divergence BarsThis script colours the bars when they are below or boyond a specified RSI threshold
3-Bar-Reversal-Pattern Strategy This startegy based on 3-day pattern reversal described in "Are Three-Bar
Patterns Reliable For Stocks" article by Thomas Bulkowski, presented in
January,2000 issue of Stocks&Commodities magazine.
That pattern conforms to the following rules:
- It uses daily prices, not intraday or weekly prices;
- The middle day of the three-day pattern has the lowest low of the three days, with no ties allowed;
- The last day must have a close above the prior day's high, with no ties allowed;
- Each day must have a nonzero trading range.
Bar Outlines [UkutaLabs]█ OVERVIEW
The Bar Outlines indicator will automatically draw bars from higher time frames onto lower time frames, allowing traders to analyse multiple levels of information at a glance. This indicator is intended to assist traders by allowing them to see different depths of the market on one single chart, as well as to improve the clarity of other indicators that mirror higher time frame data.
The purpose of this script is to simplify the experience of users by allowing them to mirror bars from several higher time frame options onto lower time frame charts.
█ USAGE
Users can choose between several different time frames that they would like to have displayed on their lower time frame charts.
The colors of these bars are customizable, allowing users to distinguish between bullish and bearish bars, as well as making it easier to understand which time frame the bars are being mirrored from if they choose to mirror multiple time frames.
The mirrored bars also contain two sections. The main section is a solid section that represents the body of the higher time frame bar, and the secondary section is a border that represents the wick of the higher time frame bar, making it easier for the user to get all the information they need about the higher time frame bar at a glance.
█ SETTINGS
Configuration
- Max Bars to Display: Determines the number of higher time frame bars to draw on the chart. This number is for each higher time frame that the user has enabled, not the total.
5 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 5 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 5 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 5 minute time frame.
15 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 15 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 15 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 15 minute time frame.
30 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 30 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 30 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 30 minute time frame.
60 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 60 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 60 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 60 minute time frame.
240 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 240 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 240 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 240 minute time frame.
Daily (Higher Time Frame)
- Display (On/Off): Determines whether bars from the daily chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the daily time frame.
- Bearish Color: Determines the color of bearish bars drawn from the daily time frame.
Bars Since EMA Touch (BSET)// Description:
Welcome to the "Bars since EMA touch" indicator, designed and developed by StockJustice. This script provides a unique approach to analyzing price movements relative to the Exponential Moving Average (EMA). It offers valuable insights into trend strength and trend duration, allowing traders to make informed decisions.
// How it Works:
The indicator calculates the EMA based on the chosen length, which is customizable through the input settings. Additionally, it calculates the MACD (Moving Average Convergence Divergence) and its signal line to further enhance the analysis.
The script tracks the number of bars since the price touches or crosses the EMA. It provides a histogram plot that represents this count. Positive values indicate bars since the price crossed above the EMA, while negative values indicate bars since the price crossed below the EMA.
The color of the histogram bars adjusts dynamically based on the relationship between the current close price and the EMA. If the close is above the EMA and the bars since EMA touch is greater than zero, the histogram will be colored red if the signal line is above the MACD. If the close is below the EMA and the bars since EMA touch is greater than zero, the histogram will be colored green if the signal line is below the MACD. Otherwise, the histogram bars will be colored blue or white, depending on the direction of the crossover.
The script also calculates percentiles for bullish and bearish trends. These percentiles indicate the proportion of trend durations that exceed a certain threshold, which is set at 20% by default. The percentile plots help identify significant trend durations and gauge their strength relative to the entire trend history.
// Usage:
This indicator can be applied to various markets and timeframes, accommodating different trading strategies. It is suitable for both intraday and swing trading. Traders can use it in conjunction with other technical analysis tools to confirm trade entries, identify trend reversals, or determine potential price targets.
// Input Parameters:
Length of EMA: This parameter allows you to define the length of the Exponential Moving Average used in the calculations. The default value is 9, but feel free to adjust it according to your preferences and trading style.
// Notes on Uniqueness:
The "Bars since EMA touch" indicator stands out from other published scripts due to its comprehensive analysis of trend durations, the use of MACD and its signal line, and the dynamic coloring of the histogram bars based on various conditions. The incorporation of percentiles provides further insights into trend strength. This unique combination of features makes the indicator a powerful tool for traders seeking a deeper understanding of price action.
// Relevance for Technical Analysis and Trading
The "Bars since EMA touch" indicator can be utilized for various aspects of technical analysis, including trend continuation, trend reversal, and identifying potential entry and exit points. Here's how you can apply it in different scenarios:
Trend Continuation:
When the histogram bars show positive values (indicating bars since the price crossed above the EMA), it suggests the presence of an ongoing uptrend. Traders can use this information to confirm the strength of the prevailing trend. If the histogram bars remain positive and the trend continues to unfold, it signals a potential opportunity to stay in the trade or consider adding to existing positions.
Trend Reversal:
Conversely, when the histogram bars show negative values (indicating bars since the price crossed below the EMA), it indicates a potential trend reversal or the beginning of a downtrend. Traders can watch for the histogram bars to transition from positive to negative values, signaling a possible trend reversal. This information can be used as an early indication to exit long positions or consider initiating short positions.
Entry and Exit Points:
Traders can incorporate the "Bars since EMA touch" indicator with other technical analysis tools to identify optimal entry and exit points. For example, when the histogram bars are positive, indicating an ongoing uptrend, traders might consider entering long positions when the price retraces and touches the EMA. This strategy aims to capitalize on potential pullbacks within the overall upward trend.
Conversely, when the histogram bars are negative, indicating a potential downtrend, traders might wait for the price to rally and touch the EMA before considering short positions. This approach seeks to enter short positions during temporary bounces within the overall downward trend.
Confirmation with MACD:
The script also incorporates the MACD and its signal line. Traders can analyze the relationship between the MACD and the signal line to confirm trend signals provided by the histogram bars. When the MACD crosses above the signal line and the histogram bars are positive, it adds further strength to the bullish indication. Similarly, when the MACD crosses below the signal line and the histogram bars are negative, it reinforces the bearish signal.
Responsive Histogram Color Scheme:
The color change of the histogram in the "Bars since EMA touch" indicator is specifically designed to alert traders to potential trend weakness or a shift in market dynamics. When the histogram bars turn red (for uptrends) or green (for downtrends), it signifies a weakening trend as the price approaches or hovers around the EMA. This color change acts as a visual cue, indicating that the trend may be losing momentum or facing resistance. It prompts traders to exercise caution, reassess the market conditions, and consider adjusting their trading strategies accordingly, such as tightening stops, taking partial profits, or preparing for a potential trend reversal.
// Red and Green Horizontal Lines:
The plotted percentile values in the "Bars since EMA touch" indicator hold significant importance as they provide insights into the strength and duration of trends. The percentile lines represent the proportion of trend durations that exceed a certain threshold, which is set at 20% by default.
The "Bull 15% Percentile" plot indicates the percentage of bullish trends that have lasted longer than 20% of the entire trend history. A higher value suggests that a significant portion of bullish trends has surpassed the threshold, indicating the presence of relatively strong and sustained uptrends.
On the other hand, the "Bear 15% Percentile" plot represents the percentage of bearish trends that have persisted beyond 20% of the total bearish trend history. A higher value suggests that a notable proportion of bearish trends has extended beyond the threshold, signifying the presence of pronounced and enduring downtrends.
These percentile lines serve as valuable reference points for traders, as they highlight significant trend durations compared to the overall trend history. They offer insights into the relative strength and duration of the prevailing trends, enabling traders to assess the potential continuation or reversal of the current trend. Additionally, observing changes in the percentile values over time can provide further indications of shifts in market dynamics and trend strength.
By incorporating these percentile lines into their analysis, traders can gain a better understanding of the market's trend characteristics and make more informed trading decisions.
Remember, as with any technical analysis tool, it's essential to consider other factors such as support and resistance levels, volume patterns, and broader market conditions to increase the accuracy of your trading decisions. It's recommended to backtest and validate the indicator's performance before using it in live trading.
NOTE: The 9ema is plotted on the chart simply to visually show how, once contact is made, the histogram stops plotting new bars. This visualization is needed to confirm how the script works.
Bar metrics / quantifytools— Overview
Rather than eyeball evaluating bullishness/bearishness in any given bar, bar metrics allow a quantified approach using three basic fundamental data points: relative close, relative volatility and relative volume. These data points are visualized in a discreet data dashboard form, next to all real-time bars. Each value also has a dot in front, representing color coded extremes in the values.
Relative close represents position of bar's close relative to high and low, high of bar being 100% and low of bar being 0%. Relative close indicates strength of bulls/bears in a given bar, the higher the better for bulls, the lower the better for bears. Relative volatility (bar range, high - low) and relative volume are presented in a form of a multiplier, relative to their respective moving averages (SMA 20). A value of 1x indicates volume/volatility being on par with moving average, 2x indicates volume/volatility being twice as much as moving average and so on. Relative volume and volatility can be used for measuring general market participant interest, the "weight of the bar" as it were.
— Features
Users can gauge past bar metrics using lookback via input menu. Past bars, especially recent ones, are helpful for giving context for current bar metrics. Lookback bars are highlighted on the chart using a yellow box and metrics presented on the data dashboard with lookback symbols:
To inspect bar metric data and its implications, users can highlight bars with specified bracket values for each metric:
When bar highlighter is toggled on and desired bar metric values set, alert for the specified combination can be toggled on via alert menu. Note that bar highlighter must be enabled in order for alerts to function.
— Visuals
Bar metric dots are gradient colored the following way:
Relative volatility & volume
0x -> 1x / Neutral (white) -> Light (yellow)
1x -> 1.7x / Light (yellow) -> Medium (orange)
1.7x -> 2.4x / Medium (orange) -> Heavy (red)
Relative close
0% -> 25% / Heavy bearish (red) -> Light bearish (dark red)
25% -> 45% / Light bearish (dark red) -> Neutral (white)
45% - 55% / Neutral (white)
55% -> 75% / Neutral (white) -> Light bullish (dark green)
75% -> 100% / Light bullish (dark green) -> Heavy bullish (green)
All colors can be adjusted via input menu. Label size, label distance from bar (offset) and text format (regular/stealth) can be adjusted via input menu as well:
— Practical guide
As interpretation of bar metrics is highly contextual, it is especially important to use other means in conjunction with the metrics. Levels, oscillators, moving averages, whatever you have found useful for your process. In short, relative close indicates directional bias and relative volume/volatility indicates "weight" of directional bias.
General interpretation
High relative close, low relative volume/volatility = mildly bullish, bias up/consolidation
High relative close, medium relative volume/volatility = bullish, bias up
High relative close, high relative volume/volatility = exuberantly bullish, bias up/down depending on context
Medium relative close, low relative volume/volatility = noise, no bias
Medium relative close, medium to high relative volume/volatility = indecision, further evidence needed to evaluate bias
Low relative close, low relative volume/volatility = mildly bearish, bias down/consolidation
Low relative close, medium relative volume/volatility = bearish, bias down
Low relative close, high relative volume/volatility = exuberantly bearish, bias down/up depending on context
Nuances & considerations
As to relative close, it's important to note that each bar is a trading range when viewed on a lower timeframe, ES 1W vs. ES 4H:
When relative close is high, bulls were able to push price to range high by the time of close. When relative close is low, bears were able to push price to range low by the time of close. In other words, bulls/bears were able to gain the upper hand over a given trading range, hinting strength for the side that made the final push. When relative close is around middle range (40-60%), it can be said neither side is clearly dominating the range, hinting neutral/indecision bias from a relative close perspective.
As to relative volume/volatility, low values (less than ~0.7x) imply bar has low market participant interest and therefore is likely insignificant, as it is "lacking weight". Values close to or above 1x imply meaningful market participant interest, whereas values well above 1x (greater than ~1.3x) imply exuberance. This exuberance can manifest as initiation (beginning of a trend) or as exhaustion (end of a trend):
Bar RatioBar Ratio is an indicator tool that provides real-time likelihood of the current bar closing up or down (green or red).
Technical status, volatility and time are key elements in this indicator.
From the open of a bar, a ratio of 50% is assumed before changes from factors are considered.
The factors that change the likelihood of a bar closing up or down and their relative weight are listed below.
Micro-Trend observed over the last 20 bars - up to 2.5%
Macro-Trend observed over the last 70 bars - up to 2.5%
Current bar price against beginning of Micro-Trend - up to 2.5%
Combination of significant change above average volatility and move against direction of Micro-Trend - up to 2.5%
Combination of significant change above average volatility and move against direction of Macro-Trend - up to 2.5%
Previous bar direction up to 10 consecutive bars - up to 3.75%
Current status of bar (higher or lower) - up to 3.75%
Significance of change against average volatility - up to 5%
Time until bar close - up to 25%
Total: 100%
If all factors are synchronised, the likelihood of the bar closing up or down can be indicated at a probability of 100%.
While the practical ability for this to be used for trading is limited, the tool can be useful for choosing when it is safe to open a trade.
Time is a key element as the likelihood of the bar remaining at current status by the close of the bar is constantly increasing.
The accuracy of this tool is incredible and should be noted as it's primary trait.
You can find and use this indicator on any time-stamp or security such as Cryptocurrency, Forex, Stocks or Indices.
The Bar Ratio can be located by searching in your public indicator library at the top of your chart and adding it to your screen.