Komut dosyalarını "bear" için ara
Bull And Bear Balance Strategy Backtest This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb.
This modified strategy backtest from HPotter
Bull And Bear Balance Strategy This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb.
[RS]Linear Regression Bull and Bear Power Accumulation V1EXPERIMENTAL:
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
(accidentjev2) added multi timeframe support (indicator may repaint values)
[RS]Linear Regression Bull and Bear Power V0EXPERIMENTAL:
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
Stacked Bullish vs Bearish VolumeThis indicator visually represents buying (bullish) and selling (bearish) pressure within each candle by stacking both portions inside a single volume bar. Unlike traditional volume indicators that use only one color per bar, this script splits each volume bar into two segments:
Green portion (Bullish Volume) → Represents the buying pressure when the price moves up.
Red portion (Bearish Volume) → Represents the selling pressure when the price moves down.
By stacking buy and sell volume inside the same column, traders can easily assess the balance of buying vs selling activity within each trading session.
Stacking the Bars:
The bullish portion (green) is plotted first.
The bearish portion (red) is plotted slightly offset to create a stacked effect.
Average Bullish & Bearish Percentage ChangeAverage Bullish & Bearish Percentage Change
Processes two key aspects of directional market movements relative to price levels. Unlike traditional momentum tools, it separately calculates the average of positive and negative percentage changes in price using user-defined independent counts of actual past bullish and bearish candles. This approach delivers comprehensive and precise view of average percentage changes.
FEATURES:
Count-Based Averages: Separate averaging of bullish and bearish %𝜟 based on their respective number of occurrences ensures reliable and precise momentum calculations.
Customizable Averaging: User-defined number of candle count sets number of past bullish and bearish candles used in independent averaging.
Two Methods of Candle Metrics:
1. Net Move: Focuses on the body range of the candle, emphasizing the net directional movement.
2. Full Capacity: Incorporates wicks and gaps to capture full potential of the bar.
The indicator classifies Doji candles contextually, ensuring they are appropriately factored into the bullish or bearish metrics to avoid mistakes in calculation:
1. Standard Doji - open equals close.
2. Flat Close Doji - Candles where the close matches the previous close.
Timeframe Flexibility:
The indicator can be applied across any desired timeframe, allowing for seamless multi-timeframe analysis.
HOW TO USE
Select Method of Bar Metrics:
Net Move: For analyzing markets where price changes are consistent and bars are close to each other.
Full Capacity: Incorporates wicks and gaps, providing relevant figures for markets like stocks
Set the number of past candles to average:
🟩 Average Past Bullish Candles (Default: 10)
🟥 Average Past Bullish Candles (Default: 10)
Why Percentage Change Is Important
Standardized Measurement Across Assets:
Percentage change normalizes price movements, making it easier to compare different assets with varying price levels. For example, a $1 move in a $10 stock is significant, but the same $1 move in a $1,000 stock is negligible.
Highlights Relative Impact:
By measuring the price change as a percentage of the close, traders can better understand the relative impact of a move on the asset’s overall value.
Volatility Insights:
A high percentage change indicates heightened volatility, which can be a signal of potential opportunities or risks, making it more actionable than raw price changes. Percents directly reflect the strength of buying or selling pressure, providing a clearer view of momentum compared to raw price moves, which may not account for the relative size of the move.
By focusing on percentage change, this indicator provides a normalized, actionable, and insightful measure of market momentum, which is critical for comparing, analyzing, and acting on price movements across various assets and conditions.
RCYC Bullish Bearish Indicator
Summary: The RCYC Bullish Bearish Indicator is a custom trading tool designed to help traders identify potential bullish and bearish conditions in the market using a combination of KDJ and RSI indicators. This indicator uses color-coded candles to visually represent bullish and bearish signals, making it easy to identify trend changes on the chart. The script is particularly useful for traders who prefer visual signals and want to incorporate both trend momentum (KDJ) and relative strength (RSI) in their analysis.
Description:
The RCYC Bullish Bearish Indicator is a unique mashup of the KDJ and RSI indicators, optimized to provide a clear visual representation of market conditions through color-coded candles. This indicator not only identifies the potential trend shifts but also provides alerts for significant crossover points, enhancing a trader's ability to make informed decisions.
How It Works:
KDJ Calculation:
The KDJ is a variation of the Stochastic Oscillator that includes the %J line, which can go beyond the typical 0-100 range of %K and %D.
The KDJ component of this indicator calculates the highest high and lowest low over a specified period (KDJ Length), using these values to derive the %K line.
The %D line is a smoothed version of %K, and the %J line is derived from %K and %D using the formula: J = 3 * %K - 2 * %D.
This indicator focuses on the behavior of the %J line in relation to a mid-point level (50), identifying crossovers and crossunders that signal potential shifts in market sentiment.
RSI Calculation:
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It is widely used to identify overbought or oversold conditions.
In this indicator, RSI values are adjusted and plotted to align visually with the KDJ values, providing a complementary momentum analysis.
Crossover Logic and Candle Coloring:
The indicator tracks two main events:
CrossOver50: When the %J line crosses above the 50 level, indicating potential bullish momentum.
CrossUnder50: When the %J line crosses below the 50 level, indicating potential bearish momentum.
Depending on the crossover events, the script changes the color of the candles on the chart:
Red candles on the initial crossover above 50, followed by dark blue candles to maintain bullish sentiment.
Yellow candles on the initial crossover below 50, followed by light blue candles to maintain bearish sentiment.
Alerts:
The indicator includes alert conditions for both bullish and bearish signals:
Red Candle Alert: Notifies the trader when the %J line crosses above 50.
Yellow Candle Alert: Notifies the trader when the %J line crosses below 50.
These alerts allow traders to react promptly to key market signals without continuously monitoring the chart.
Usage and Benefits:
This indicator is designed for traders looking to combine momentum and trend analysis into a single visual tool. It is particularly useful for those trading in trending markets or looking for entry/exit signals based on momentum shifts.
The color-coded candles provide an intuitive way to assess market conditions at a glance, reducing the complexity associated with analyzing multiple indicators separately.
By integrating both KDJ and RSI, the RCYC Bullish Bearish Indicator offers a balanced approach to trend detection and momentum confirmation, making it versatile for various trading styles, including scalping, swing trading, and position trading.
Originality and Usefulness:
While the indicator builds upon the familiar concepts of KDJ and RSI, it uniquely merges them into a cohesive visual tool with distinct crossover-based alerts and candle coloring.
This approach makes the indicator original, as it simplifies the interpretation of complex signals into straightforward visual cues, enhancing the decision-making process for traders who prefer chart-based analysis.
Truly Bullish & Bearish CandleThis Pine Script indicator identifies and highlights truly bullish and bearish candles on your chart. Truly bullish candles are characterized by a strong bullish close significantly above the specific percentage, suggesting strong buying pressure. Conversely, truly bearish candles exhibit a strong bearish close significantly below the specific percentage, indicating strong selling pressure. By identifying these candles, traders can gain insights into potential shifts in market sentiment and make more informed trading decisions.
Key Features:
Identifies truly bullish and bearish candles based on strong open/close differentials.
Highlights these candles on the chart for easy visualization.
Helps traders identify potential reversals or continuations in market trends.
Customizable parameters for fine-tuning to suit individual trading strategies.
Compatible with various timeframes and trading instruments.
Usage Instructions:
Apply the indicator to your chart.
Configure the settings according to your preferences.
Look for highlighted truly bullish and bearish candles as potential entry or exit signals.
Consider additional analysis and risk management strategies to confirm trading decisions.
Disclaimer: This indicator is provided for informational and educational purposes only. It is not intended as financial advice or trading recommendations. Trading involves risks, and it's essential to conduct thorough research and practice proper risk management techniques.
Short Swing Bearish MACD Cross (By Coinrule)This strategy is oriented towards shorting during downside moves, whilst ensuring the asset is trading in a higher timeframe downtrend, and exiting after further downside.
This script can work well on coins you are planning to hodl for long-term and works especially well whilst using an automated bot that can execute your trades for you. It allows you to hedge your investment by allocating a % of your coins to trade with, whilst not risking your entire holding. This mitigates unrealised losses from hodling as it provides additional cash from the profits made. You can then choose to hodl this cash, or use it to reinvest when the market reaches attractive buying levels. Alternatively, you can use this when trading contracts on futures markets where there is no need to already own the underlying asset prior to shorting it.
ENTRY
This script utilises the MACD indicator accompanied by the Exponential Moving Average (EMA) 450 to enter trades. The MACD is a trend following momentum indicator and provides identification of short-term trend direction. In this variation it utilises the 11-period as the fast and 26-period as the slow length EMAs, with signal smoothing set at 9.
The EMA 450 is used as additional confirmation to prevent the script from shorting when price is above this long-term moving average. Once price is above the EMA 450 the script will not open any shorts - preventing the rule from attempting to short uptrends. Due to this, this strategy is ideal for setting and forgetting.
The script will enter trades based on two conditions:
1) When the MACD signals a bearish cross. This occurs when the EMA 11 crosses below the EMA 26 within the MACD signalling the start of a potential downtrend.
2) Price has closed below the EMA 450. Price closing below this long-term EMA signals that the asset is in a sustained downtrend. Price breaking above this could indicate a bullish strength in which shorting would not be profitable.
EXIT
This script utilises a set take-profit and stop-loss from the entry of the trade. The take profit is set at 8% and the stop loss of 4%, providing a risk reward ratio of 2. This indicates the script will be profitable if it has a win ratio greater than 33%.
Take-Profit Exit: -8% price decrease from entry price.
OR
Stop-Loss Exit: +4% price increase from entry price.
Based on backtesting results across a selection of assets, the 45-minute and 1-hour timeframes are the best for this strategy.
The strategy assumes each order is using 30% of the available coins to make the results more realistic and to simulate you only ran this strategy on 30% of your holdings. A trading fee of 0.1% is also taken into account and is aligned to the base fee applied on Binance.
The backtesting data was recorded from December 1st 2021, just as the market was beginning its downtrend. We therefore recommend analysing the market conditions prior to utilising this strategy as it operates best on weak coins during downtrends and bearish conditions, however the EMA 450 condition should mitigate entries during bullish market conditions.
Bearish or Bullish CandleThis simple indicator helps you decide whether a candle is bullish or bearish.
--The closer closing price is to the lower red line, the more bearish it is and vice versa.
--If price closes below the red line, the candle is bearish and vice versa.
Bearish Highs & Bullish Lows (Untouched Levels)As the indicator-name already states:
This indicator draws rays from every untouched high of a bear candle and every untouched low of a bull candle.
Levels which are touched are deleted, not on touch, but on the start of the new candle.
Bear Market LevelMarks the bear market level. Calculated as 20% drop from highs. Useful on indices to determine technical Bull or Bear markets.
Bearish Cassiopeia C Harmonic Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically detects and draws bearish Cassiopeia C harmonic patterns and price projections derived from the ranges that constitute the patterns.
Cassiopeia A, B and C harmonic patterns are patterns that I created/discovered myself. They are all inspired by the Cassiopeia constellation and each one is based on different rotations of the constellation as it moves through the sky. The range ratios are also based on the constellation's right ascension and declination listed on Wikipedia:
Right ascension 22h 57m 04.5897s–03h 41m 14.0997s
Declination 77.6923447°–48.6632690°
en.wikipedia.org
I actually developed this idea quite a while ago now but have not felt audacious enough to introduce a new harmonic pattern, let alone 3 at the same time! But I have since been able to run backtests on tick data going back to 2002 across a variety of market and timeframe combinations and have learned that the Cassiopeia patterns can certainly hold their own against the currently known harmonic patterns.
I would also point out that the Cassiopeia constellation does actually look like a harmonic pattern and the Cassiopeia A star is literally the 'strongest source of radio emission in the sky beyond the solar system', so its arguably more of a real harmonic phenomenon than the current patterns.
www.britannica.com
chandra.si.edu
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Muti-Part Upper and Lower Trends
• A multi-part return line uptrend begins with the formation of a new return line uptrend and continues until a new downtrend ends the trend.
• A multi-part downtrend begins with the formation of a new downtrend and continues until a new return line uptrend ends the trend.
• A multi-part uptrend begins with the formation of a new uptrend and continues until a new return line downtrend ends the trend.
• A multi-part return line downtrend begins with the formation of a new return line downtrend and continues until a new uptrend ends the trend.
Double Trends
• A double uptrend is formed when the current trough price is higher than the preceding trough price and the current peak price is higher than the preceding peak price.
• A double downtrend is formed when the current peak price is lower than the preceding peak price and the current trough price is lower than the preceding trough price.
Muti-Part Double Trends
• A multi-part double uptrend begins with the formation of a new uptrend that proceeds a new return line uptrend, and continues until a new downtrend or return line downtrend ends the trend.
• A multi-part double downtrend begins with the formation of a new downtrend that proceeds a new return line downtrend, and continues until a new uptrend or return line uptrend ends the trend.
Wave Cycles
A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa.
Figure 1.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Fibonacci Retracement and Extension Ratios
The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on.
1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven.
Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak.
Harmonic Patterns
The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements.
Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern.
The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves.
Bullish and Bearish Cassiopeia C Harmonic Patterns
• Bullish Cassiopeia C patterns are fundamentally composed of three troughs and two peaks. The second peak being higher than the first peak. And the third trough being lower than both the first and second troughs, while the second trough is higher than the first.
• Bearish Cassiopeia C patterns are fundamentally composed of three peaks and two troughs. The second trough being lower than the first trough. And the third peak being higher than both the first and second peaks, while the second peak is lower than the first.
The ratio measurements I use to detect the patterns are as follows:
• Wave 1 of the pattern, generally referred to as XA, has no specific ratio requirements.
• Wave 2 of the pattern, generally referred to as AB, should retrace by at least 11.34%, but no further than 22.31% of the range set by wave 1.
• Wave 3 of the pattern, generally referred to as BC, should extend by at least 225.7%, but no further than 341% of the range set by wave 2.
• Wave 4 of the pattern, generally referred to as CD, should retrace by at least 77.69%, but no further than 88.66% of the range set by wave 3.
Measurement Tolerances
In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences.
For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence.
█ FEATURES
Inputs
• AB Lower Tolerance
• AB Upper Tolerance
• BC Lower Tolerance
• BC Upper Tolerance
• CD Lower Tolerance
• CD Upper Tolerance
• Pattern Color
• Label Color
• Show Projections
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
█ NOTES
I know a few people have been requesting a single indicator that contains all my patterns and I definitely hear you on that one. However, I have been very busy working on other projects while trying to trade and be a human at the same time. For now I am going to maintain my original approach of releasing each pattern individually so as to maintain consistency. But I am now also working on getting my some of my libraries ready for public release and in doing so I will finally be able to fit all patterns into one script. I will also be giving my scripts some TLC by making them cleaner once I have the libraries up and running. Please bear with me in the meantime, this may take a while. Cheers!
Bearish Cassiopeia B Harmonic Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically detects and draws bearish Cassiopeia B harmonic patterns and price projections derived from the ranges that constitute the patterns.
Cassiopeia A, B and C harmonic patterns are patterns that I created/discovered myself. They are all inspired by the Cassiopeia constellation and each one is based on different rotations of the constellation as it moves through the sky. The range ratios are also based on the constellation's right ascension and declination listed on Wikipedia:
Right ascension 22h 57m 04.5897s–03h 41m 14.0997s
Declination 77.6923447°–48.6632690°
en.wikipedia.org
I actually developed this idea quite a while ago now but have not felt audacious enough to introduce a new harmonic pattern, let alone 3 at the same time! But I have since been able to run backtests on tick data going back to 2002 across a variety of market and timeframe combinations and have learned that the Cassiopeia patterns can certainly hold their own against the currently known harmonic patterns.
I would also point out that the Cassiopeia constellation does actually look like a harmonic pattern and the Cassiopeia A star is literally the 'strongest source of radio emission in the sky beyond the solar system', so its arguably more of a real harmonic phenomenon than the current patterns.
www.britannica.com
chandra.si.edu
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Muti-Part Upper and Lower Trends
• A multi-part return line uptrend begins with the formation of a new return line uptrend and continues until a new downtrend ends the trend.
• A multi-part downtrend begins with the formation of a new downtrend and continues until a new return line uptrend ends the trend.
• A multi-part uptrend begins with the formation of a new uptrend and continues until a new return line downtrend ends the trend.
• A multi-part return line downtrend begins with the formation of a new return line downtrend and continues until a new uptrend ends the trend.
Double Trends
• A double uptrend is formed when the current trough price is higher than the preceding trough price and the current peak price is higher than the preceding peak price.
• A double downtrend is formed when the current peak price is lower than the preceding peak price and the current trough price is lower than the preceding trough price.
Muti-Part Double Trends
• A multi-part double uptrend begins with the formation of a new uptrend that proceeds a new return line uptrend, and continues until a new downtrend or return line downtrend ends the trend.
• A multi-part double downtrend begins with the formation of a new downtrend that proceeds a new return line downtrend, and continues until a new uptrend or return line uptrend ends the trend.
Wave Cycles
A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa.
Figure 1.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Fibonacci Retracement and Extension Ratios
The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on.
1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven.
Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak.
Harmonic Patterns
The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements.
Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern.
The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves.
Bullish and Bearish Cassiopeia B Harmonic Patterns
• Bullish Cassiopeia B patterns are fundamentally composed of three troughs and two peaks. The second peak being lower than the first peak. And the third trough being lower than both the first and second troughs, while the second trough is also lower than the first.
• Bearish Cassiopeia B patterns are fundamentally composed of three peaks and two troughs. The second trough being higher than the first trough. And the third peak being higher than both the first and second peaks, while the second peak is also higher than the first.
The ratio measurements I use to detect the patterns are as follows:
• Wave 1 of the pattern, generally referred to as XA, has no specific ratio requirements.
• Wave 2 of the pattern, generally referred to as AB, should retrace by at least 11.34%, but no further than 22.31% of the range set by wave 1.
• Wave 3 of the pattern, generally referred to as BC, should extend by at least 225.7%, but no further than 341% of the range set by wave 2.
• Wave 4 of the pattern, generally referred to as CD, should retrace by at least 77.69%, but no further than 88.66% of the range set by wave 3.
Measurement Tolerances
In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences.
For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence.
█ FEATURES
Inputs
• AB Lower Tolerance
• AB Upper Tolerance
• BC Lower Tolerance
• BC Upper Tolerance
• CD Lower Tolerance
• CD Upper Tolerance
• Pattern Color
• Label Color
• Show Projections
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
█ NOTES
I know a few people have been requesting a single indicator that contains all my patterns and I definitely hear you on that one. However, I have been very busy working on other projects while trying to trade and be a human at the same time. For now I am going to maintain my original approach of releasing each pattern individually so as to maintain consistency. But I am now also working on getting my some of my libraries ready for public release and in doing so I will finally be able to fit all patterns into one script. I will also be giving my scripts some TLC by making them cleaner once I have the libraries up and running. Please bear with me in the meantime, this may take a while. Cheers!
Bearish Cassiopeia A Harmonic Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically detects and draws bearish Cassiopeia A harmonic patterns and price projections derived from the ranges that constitute the patterns.
Cassiopeia A, B and C harmonic patterns are patterns that I created/discovered myself. They are all inspired by the Cassiopeia constellation and each one is based on different rotations of the constellation as it moves through the sky. The range ratios are also based on the constellation's right ascension and declination listed on Wikipedia:
Right ascension 22h 57m 04.5897s–03h 41m 14.0997s
Declination 77.6923447°–48.6632690°
en.wikipedia.org
I actually developed this idea quite a while ago now but have not felt audacious enough to introduce a new harmonic pattern, let alone 3 at the same time! But I have since been able to run backtests on tick data going back to 2002 across a variety of market and timeframe combinations and have learned that the Cassiopeia patterns can certainly hold their own against the currently known harmonic patterns.
I would also point out that the Cassiopeia constellation does actually look like a harmonic pattern and the Cassiopeia A star is literally the 'strongest source of radio emission in the sky beyond the solar system', so its arguably more of a real harmonic phenomenon than the current patterns.
www.britannica.com
chandra.si.edu
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Muti-Part Upper and Lower Trends
• A multi-part return line uptrend begins with the formation of a new return line uptrend and continues until a new downtrend ends the trend.
• A multi-part downtrend begins with the formation of a new downtrend and continues until a new return line uptrend ends the trend.
• A multi-part uptrend begins with the formation of a new uptrend and continues until a new return line downtrend ends the trend.
• A multi-part return line downtrend begins with the formation of a new return line downtrend and continues until a new uptrend ends the trend.
Double Trends
• A double uptrend is formed when the current trough price is higher than the preceding trough price and the current peak price is higher than the preceding peak price.
• A double downtrend is formed when the current peak price is lower than the preceding peak price and the current trough price is lower than the preceding trough price.
Muti-Part Double Trends
• A multi-part double uptrend begins with the formation of a new uptrend that proceeds a new return line uptrend, and continues until a new downtrend or return line downtrend ends the trend.
• A multi-part double downtrend begins with the formation of a new downtrend that proceeds a new return line downtrend, and continues until a new uptrend or return line uptrend ends the trend.
Wave Cycles
A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa.
Figure 1.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Fibonacci Retracement and Extension Ratios
The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on.
1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven.
Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak.
Harmonic Patterns
The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements.
Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern.
The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves.
Bullish and Bearish Cassiopeia A Harmonic Patterns
• Bullish Cassiopeia A patterns are fundamentally composed of three troughs and two peaks. The second peak being higher than the first peak. And the third trough being higher than both the first and second troughs, while the second trough is also higher than the first.
• Bearish Cassiopeia A patterns are fundamentally composed of three peaks and two troughs. The second trough being lower than the first trough. And the third peak being lower than both the first and second peaks, while the second peak is also lower than the first.
The ratio measurements I use to detect the patterns are as follows:
• Wave 1 of the pattern, generally referred to as XA, has no specific ratio requirements.
• Wave 2 of the pattern, generally referred to as AB, should retrace by at least 11.34%, but no further than 22.31% of the range set by wave 1.
• Wave 3 of the pattern, generally referred to as BC, should extend by at least 225.7%, but no further than 341% of the range set by wave 2.
• Wave 4 of the pattern, generally referred to as CD, should retrace by at least 77.69%, but no further than 88.66% of the range set by wave 3.
Measurement Tolerances
In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences.
For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence.
█ FEATURES
Inputs
• AB Lower Tolerance
• AB Upper Tolerance
• BC Lower Tolerance
• BC Upper Tolerance
• CD Lower Tolerance
• CD Upper Tolerance
• Pattern Color
• Label Color
• Show Projections
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
█ NOTES
I know a few people have been requesting a single indicator that contains all my patterns and I definitely hear you on that one. However, I have been very busy working on other projects while trying to trade and be a human at the same time. For now I am going to maintain my original approach of releasing each pattern individually so as to maintain consistency. But I am now also working on getting my some of my libraries ready for public release and in doing so I will finally be able to fit all patterns into one script. I will also be giving my scripts some TLC by making them cleaner once I have the libraries up and running. Please bear with me in the meantime, this may take a while. Cheers!
Bear Bull Ratio (BBR)This indicator calculates the ratio of bearish to bullish candles over a certain window of time. It does this by keeping track of the number or distance (depending on the "Enable True Range Mode" input) between the high and low prices of bullish and bearish candles, respectively, and then dividing the total distance of bullish candles by the sum of the distances of both bullish and bearish candles. The resulting ratio is then plotted on the chart as a percentage. The indicator also plots a smoothed version of the ratio using a weighted moving average and the average of the ratio over the entire length of the chart, for both the "True Range Mode" and "Normal Mode".
Bear & Bull Zone Trend AlertsThis script was requested based on what I previously had in my other scripts.
I did do some tweaks based on some assumptions of what I think it will be used for.
Bears/Bulls [MTC]
Bulls vs. Bears, shows the strength of each buyer against sellers and shows us the market trend to make a better decision with an area that can help us to take better points of entry
Español.-
Toros vs Osos, nos muestra la fuerza de cada compradores contra vendedores y nos muestra la tendencia del mercado para tomar una mejor decisión con un área que nos puede ayudar a tomar mejores puntos de entrada
Bearish Wick Reversal█ STRATEGY OVERVIEW
The "Bearish Wick Reversal Strategy" identifies potential bullish reversals following significant bearish price rejection (long lower wicks). This counter-trend approach enters long positions when bearish candles show exaggerated downside wicks relative to closing prices, then exits on bullish confirmation signals. Includes optional EMA trend filtering for improved reliability.
█ What is a Bearish Wick?
A price rejection pattern where:
Bearish candle (close < open) forms with extended lower wick
Wick represents failed selloff: Low drops significantly below close
Measured as: (Low - Close)/Close × 100 (Negative percentage indicates downward extension)
█ SIGNAL GENERATION
1. LONG ENTRY CONDITION
Bearish candle forms with close < open
Lower wick exceeds user-defined threshold (Default: -1% of close price)
The signal occurs within the specified time window
If enabled, the close price must also be above the 200-period EMA (Exponential Moving Average)
2. EXIT CONDITION
A Sell Signal is generated when the current closing price exceeds the highest high of the previous seven bars (`close > _highest `). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position.
█ PERFORMANCE OVERVIEW
Ideal Market: Volatile instruments with frequent price rejections
Key Risk: False signals in sustained bearish trends
Optimization Tip: Test various thresholds
Filter Impact: EMA reduces trades but improves win rate and reduces drawdown
Bearish Gap Down DetectionThis indicator is designed to identify bearish gap downs in price action and visually mark them on your chart. A gap down occurs when today's opening price is below the previous day's low, and the closing price remains below that low, signaling a potential bearish continuation or reversal.
Features:
Precise Gap Down Detection: Identifies only confirmed bearish gap downs, avoiding false signals.
Clear Visual Markers: Marks detected gap downs with a red downward triangle above the bar for easy identification.
Minimalist Design: Focuses solely on gap down detection, without any reliance on moving averages or additional noise.
Use Cases:
Trend Reversals: Spot potential downward trends as they develop.
Momentum Confirmation: Use alongside other indicators or strategies to confirm bearish momentum.
Swing Trading Opportunities: Ideal for traders looking to capitalize on significant price movements.
How It Works:
The script detects a gap down when:
Today's opening price is below the previous day's low.
Today's closing price stays below the previous day's low.
When these conditions are met, the indicator plots a red triangle above the price bar, signaling a bearish gap down.
Best Practices:
Apply this script to daily or higher timeframes for more reliable results.
Combine it with other indicators, such as support/resistance levels or volume analysis, for enhanced decision-making.
Bearish BreakerDescription:
The Bearish Breaker is designed to detect significant bearish candles that meet specific customizable conditions, allowing traders to easily identify potential sell signals or strong downtrends. This indicator highlights bearish candles based on size, close position within the candle's range, and other specific criteria, with options to plot Fibonacci levels, a stop loss line, and dollar loss estimation.
Key Features:
1. Customizable Candle Highlighting Conditions:
Highlights candles that are bearish and whose body is greater than a user-defined multiple of the average candle body size over a specified period.
2.Checks if the candle’s close is within a customizable percentage from the bottom of the candle’s range (default is 35%).
3. Ensures the close is lower than the lows of the previous two candles.
Visual Markings:
1. A plus sign appears below large bearish candles that meet the highlighting criteria.
2. Optionally plots a line at the low of the previous candle, labeled as "FVG" (Fair Value Gap).
3. Fibonacci Levels:
Plots 61.8% and 50% Fibonacci levels from the low to high of the highlighted candle.
4. Provides options to show/hide labels and adjust line colors.
5. Shaded Area:
Fills the area between the 50% and 61.8% levels with customizable color and transparency.
Stop Loss and Dollar Calculation:
1. Calculates a stop loss level, set a user-defined number of ticks above the high of the highlighted candle.
2. Displays a label with the potential dollar loss from the "FVG" to the stop loss line, using a specified dollar value per tick.
How To Use
1. Highlight Conditions: Adjust parameters like the average body length, threshold multiplier, and close percentage to fine-tune the bearish candle detection. typically I like to use the 4-6 body length with a 1.5 multiplier
2. Visual Elements: Toggle labels, colors, and transparency of Fibonacci and FVG lines, allowing you to customize the display for clarity.
3. Risk Management: Set the dollar value per tick and stop loss distance (in ticks) to display potential risk for your specific instrument , for example dollar per tick on NQ is $5 , ES is $12.50, CL is $10
4. Alerts:
An alert can be set to trigger each time a large bearish candle forms and meets all conditions, helping you stay notified of potential bearish momentum shifts.
5. Parameters:
Threshold Multiplier: Adjusts the size threshold for highlighting a bearish candle.
Close Percent in Range: Sets how close to the bottom of the candle’s range the close must be (0-100%). I like the candle to close in the lower 75 percent of the candle.
6. Stop Loss Ticks Above High: Controls how far above the high of the highlighted candle to place the stop loss.
7. Dollar Value per Tick: Calculates potential dollar loss between the FVG level and stop loss based on the asset’s tick value.
8. To trade this setup I like to wait for the first 1-2 candles after the highlighted breaker candle to pull back into the shaded area for a short position and target the low of the breaker candle or a 2-1 risk to reward.
Ideal For:
This indicator is ideal for traders looking to identify strong bearish momentum, manage risk visually, and use Fibonacci and fair value gaps on large bearish candles as potential areas for short entries with suggested stop loss areas and target profits.
Disclaimer: This indicator is for educational and informational purposes only and should not be used as a sole trading strategy. Always perform your own analysis before making trading decisions.
Bearish 3 Bars Reversal PatternThis TradingView Pine Script indicator identifies and highlights a bearish 3-bar reversal pattern on your chart. The script also calculates the percentage difference between the current low and the previous high, displaying this value on the chart when the pattern is detected.
Features:
Pattern Detection:
The script detects a bearish 3-bar reversal pattern when the high of the previous bar is higher than the high of the bar before it, and the current high is lower than the previous high.
Percentage Difference Calculation:
When the pattern is detected, the script calculates the percentage difference between the current low and the previous high. This percentage is displayed on the chart.
Visual Indicators:
When a bearish 3-bar reversal pattern is detected, a label is created on the chart showing the calculated percentage difference. The label is styled with a downward arrow, red color, and white text for clear visibility.
Alerts:
An alert condition is set up to notify users when the bearish 3-bar reversal pattern is detected. This allows traders to take timely action based on the pattern.
