Precision Trade Zone By KittisakThis indicator is designed for Money Management calculations, helping to facilitate risk management in trading, determining suitable leverage based on acceptable risk, and adjusting the Stop Loss level to align with the calculated leverage.
Abbreviation Descriptions
LR : Suitable Leverage.
EP : Entry Price.
BEP : Break-Even Point (a point where you can move your Stop Loss to prevent losses once the price reaches a certain level).
SL : Stop Loss (a recalculated Stop Loss level to match the leverage. You should use this as the Stop Loss price instead of the initial level you set).
TP : Take Profit (a point where you take profit based on the defined risk-reward ratio).
Note
When first activating the indicator, an error may occur, and no output will be displayed. This happens because you must first specify the Entry Price and Stop Loss in the indicator settings.
How Much Leverage Should You Use?
It may seem like a simple question but is difficult to answer.
Method for Calculating Suitable Leverage
Use the formula:
Leverage = Acceptable Loss / (Distance between Entry Price and Stop Loss + (Buy Fee + Sell Fee))
Calculating the Correct Stop Loss Point
(Stop Loss levels will be slightly adjusted or extended)
For Long Positions :
New Stop Loss = Entry Price * (1 - Acceptable Loss / (Calculated Leverage * 100))
For Short Positions :
New Stop Loss = Entry Price * (1 + Acceptable Loss / (Calculated Leverage * 100))
Calculating the Correct Take Profit Point
(Take Profit levels will be slightly adjusted or extended)
For Long Positions :
Take Profit = Entry Price * (1 + (Acceptable Loss / (Calculated Leverage * 100) * RR) + ((Buy Fee + Sell Fee) / 100))
For Short Positions :
Take Profit = Entry Price * (1 - (Acceptable Loss / (Calculated Leverage * 100) * RR) + ((Buy Fee + Sell Fee) / 100))
Benefits of This Calculation
1. Accurate Risk Assessment
The calculated leverage accounts for trading fees. For example, if you aim for a 2% loss, this method ensures the actual loss is exactly 2%, not more (e.g., 2% plus fees).
2. Eliminates Guesswork
Randomly setting leverage can lead to risks because the Stop Loss level may not align with your position. This calculation ensures that the leverage aligns precisely with your desired Stop Loss level.
3. Realistic Profit Targets
For example, with a 2% acceptable loss and a 1:2 RR, you expect a 4% profit. However, without this calculation, fees may reduce your profit below 4%. This method includes fees, ensuring your profit matches the intended target.
Caution
This indicator does not account for slippage or requotes. Use it with caution and allow a buffer for slippage in your calculations.
Indicator นี้มีไว้สำหรับคำนวณ Money Management ซึ่งจะช่วยอำนวยความสะดวกในการจัดการความเสี่ยงในการเทรด การคำนวณ Leverage ที่เหมาะสมกับความเสี่ยงที่คุณยอมรับได้ และจัดการจุด Stop Loss ให้เหมาะสมกับ Leverage นั้น
คำอธิบายเกี่ยวกับคำย่อ
LR หมายถึง Leverage ที่เหมาะสม
EP หมายถึง Entry Price หรือราคาเข้าซื้อ
BEP หมายถึง Break-Even Point หรือจุดคุ้มทุน (คุณสามารถย้าย Stop Loss มาที่จุดนี้เมื่อราคาไปถึงจุดหนึ่งเพื่อป้องกันการขาดทุนได้)
SL หมายถึง Stop Loss (ซึ่งเป็น Stop Loss ที่คำนวณใหม่เพื่อให้ตำแหน่งเหมาะสมกับ Leverage ที่คำนวณได้ คุณควรใช้จุดนี้เพื่อเป็นราคา Stop Loss แทนจุด Stop Loss ที่คุณกำหนดไว้ในตอนแรก)
TP หมายถึง Take Profit (เป็นจุดที่คุณจะขายทำกำไรตาม RR ที่กำหนดไว้)
* หมายเหตุ เมื่อเริ่มเปิด Indicator จะเกิด Error ขึ้น และไม่มีผลลัพท์ใด ๆ แสดงให้เห็น นั่นเป็นเพราะคุณต้องเข้าไปกำหนด Entry Price และ Stop Loss ในการตั้งค่าของ Indicator เสียก่อน
ต้องใช้ Leverage เท่าไหร่? มันเป็นคำถามที่ดูเหมือนง่าย แต่ตอบยาก
วิธีคำนวณ Leverage ที่เหมาะสม ใช้สมการคือ
Levarage = การขาดทุนที่ยอมรับได้ / (ระยะห่างระหว่าง Entry Price และ Stop Loss + (ค่าธรรมเนียมซื้อ + ค่าธรรมเนียมขาย))
นำผลลัพท์ Leverage ที่ได้มาคำนวณเพื่อหาจุด Stop Loss ที่ถูกต้อง (จุดของ Stop Loss จะมีการยืดขยายออกไปเล็กน้อย) โดยใช้สมการ
ตำแหน่ง Stop Loss ใหม่ = Entry Price * (1 - การขาดทุนที่ยอมรับได้ / (Leverage ที่คำนวณได้ * 100)) // สำหรับ Long
ตำแหน่ง Stop Loss ใหม่ = Entry Price * (1 + การขาดทุนที่ยอมรับได้ / (Leverage ที่คำนวณได้ * 100)) // สำหรับ Short
นำผลลัพท์ Leverage ที่ได้มาคำนวณเพื่อหาจุด Take Profit ที่ถูกต้อง (จุดของ Take Profit จะมีการยืดขยายออกไปเล็กน้อย) โดยใช้สมการ
ตำแหน่ง Take Profit = Entry Price * (1 + (การขาดทุนที่ยอมรับได้ / (Leverage ที่คำนวณได้ * 100) * RR) + ((ค่าธรรมเนียมซื้อ + ค่าธรรมเนียมขาย) / 100)) // สำหรับ Long
ตำแหน่ง Take Profit = Entry Price * (1 - (การขาดทุนที่ยอมรับได้ / (Leverage ที่คำนวณได้ * 100) * RR) + ((ค่าธรรมเนียมซื้อ + ค่าธรรมเนียมขาย) / 100)) // สำหรับ Short
ข้อดีของการคำนวณคือ
1. คุณจะได้ค่า Leverage ที่เหมาะสมกับความเสี่ยงที่คุณยอมรับได้โดยรวมค่าธรรมเนียมเข้าไปในนั้นแล้ว นั่นหมายความว่า ความสูญเสียจะเป็น 2% (ตามตัวอย่าง) จริง ๆ ไม่ใช่ 2% และถูกหักค่าธรรมเนียมเพิ่มอีก กลายเป็นสูญเสียมากกว่า 2%
2. การตั้ง Leverage มั่ว ๆ กลายเป็นความเสี่ยง นั่นเพราะตำแหน่งของ Stop Loss ไม่ได้อยู่ในจุดที่ควรจะเป็น การคำนวณนี้ช่วยให้คุณได้ Leverage ในตำแหน่ง Stop Loss ที่คุณต้องการโดยแท้จริง
3. ผลกำไรที่ได้รับตรงกับความต้องการจริง ๆ เช่น การขาดทุนที่ยอมรับได้ 2% และ RR 1:2 สิ่งที่คุณคิดคือกำไร 4% แต่จริง ๆ แล้วไม่ถึง 4% นั่นเพราะว่าโดนหักค่าธรรมเนียมไปส่วนหนึ่ง การคำนวณนี้ได้รวมค่าธรรมเนียมให้แล้ว คุณจึงได้กำไรที่ 4% อย่างถูกต้องตามต้องการ
ข้อควรระวัง
Indicator นี้ไม่ได้มีการควบคุมความเสี่ยงในเรื่องของ slippage หรือ requote โปรดใช้งานอย่างระมัดระวังและมีการเผื่อระยะสำหรับ slippage ด้วย
Komut dosyalarını "entry" için ara
Mean Reversion Pro Strategy [tradeviZion]Mean Reversion Pro Strategy : User Guide
A mean reversion trading strategy for daily timeframe trading.
Introduction
Mean Reversion Pro Strategy is a technical trading system that operates on the daily timeframe. The strategy uses a dual Simple Moving Average (SMA) system combined with price range analysis to identify potential trading opportunities. It can be used on major indices and other markets with sufficient liquidity.
The strategy includes:
Trading System
Fast SMA for entry/exit points (5, 10, 15, 20 periods)
Slow SMA for trend reference (100, 200 periods)
Price range analysis (20% threshold)
Position management rules
Visual Elements
Gradient color indicators
Three themes (Dark/Light/Custom)
ATR-based visuals
Signal zones
Status Table
Current position information
Basic performance metrics
Strategy parameters
Optional messages
📊 Strategy Settings
Main Settings
Trading Mode
Options: Long Only, Short Only, Both
Default: Long Only
Position Size: 10% of equity
Starting Capital: $20,000
Moving Averages
Fast SMA: 5, 10, 15, or 20 periods
Slow SMA: 100 or 200 periods
Default: Fast=5, Slow=100
🎯 Entry and Exit Rules
Long Entry Conditions
All conditions must be met:
Price below Fast SMA
Price below 20% of current bar's range
Price above Slow SMA
No existing position
Short Entry Conditions
All conditions must be met:
Price above Fast SMA
Price above 80% of current bar's range
Price below Slow SMA
No existing position
Exit Rules
Long Positions
Exit when price crosses above Fast SMA
No fixed take-profit levels
No stop-loss (mean reversion approach)
Short Positions
Exit when price crosses below Fast SMA
No fixed take-profit levels
No stop-loss (mean reversion approach)
💼 Risk Management
Position Sizing
Default: 10% of equity per trade
Initial capital: $20,000
Commission: 0.01%
Slippage: 2 points
Maximum one position at a time
Risk Control
Use daily timeframe only
Avoid trading during major news events
Consider market conditions
Monitor overall exposure
📊 Performance Dashboard
The strategy includes a comprehensive status table displaying:
Strategy Parameters
Current SMA settings
Trading direction
Fast/Slow SMA ratio
Current Status
Active position (Flat/Long/Short)
Current price with color coding
Position status indicators
Performance Metrics
Net Profit (USD and %)
Win Rate with color grading
Profit Factor with thresholds
Maximum Drawdown percentage
Average Trade value
📱 Alert Settings
Entry Alerts
Long Entry (Buy Signal)
Short Entry (Sell Signal)
Exit Alerts
Long Exit (Take Profit)
Short Exit (Take Profit)
Alert Message Format
Strategy name
Signal type and direction
Current price
Fast SMA value
Slow SMA value
💡 Usage Tips
Consider starting with Long Only mode
Begin with default settings
Keep track of your trades
Review results regularly
Adjust settings as needed
Follow your trading plan
⚠️ Disclaimer
This strategy is for educational and informational purposes only. It is not financial advice. Always:
Conduct your own research
Test thoroughly before live trading
Use proper risk management
Consider your trading goals
Monitor market conditions
Never risk more than you can afford to lose
📋 Release Notes
14 January 2025
Added New Fast & Slow SMA Options:
Fibonacci-based periods: 8, 13, 21, 144, 233, 377
Additional period: 50
Complete Fast SMA options now: 5, 8, 10, 13, 15, 20, 21, 34, 50
Complete Slow SMA options now: 100, 144, 200, 233, 377
Bug Fixes:
Fixed Maximum Drawdown calculation in the performance table
Now using strategy.max_drawdown_percent for accurate DD reporting
Previous version showed incorrect DD values
Performance metrics now accurately reflect trading results
Performance Note:
Strategy tested with Fast/Slow SMA 13/377
Test conducted with 10% equity risk allocation
Daily Timeframe
For Beginners - How to Modify SMA Levels:
Find this line in the code:
fastLength = input.int(title="Fast SMA Length", defval=5, options= )
To add a new Fast SMA period: Add the number to the options list, e.g.,
To remove a Fast SMA period: Remove the number from the options list
For Slow SMA, find:
slowLength = input.int(title="Slow SMA Length", defval=100, options= )
Modify the options list the same way
⚠️ Note: Keep the periods that make sense for your trading timeframe
💡 Tip: Test any new combinations thoroughly before live trading
"Trade with Discipline, Manage Risk, Stay Consistent" - tradeviZion
IU Trailing Stop Loss MethodsThe 'IU Trailing Stop Loss Methods' it's a risk management tool which allows users to apply 12 trailing stop-loss (SL) methods for risk management of their trades and gives live alerts when the trailing Stop loss has hit. Below is a detailed explanation of each input and the working of the Script.
Main Inputs:
- bar_time: Specifies the date from which the trade begins and entry price will be the open of the first candle.
- entry_type: Choose between 'Long' or 'Short' positions.
- trailing_method: Select the trailing stop-loss method. Options include ATR, Parabolic SAR, Supertrend, Point/Pip based, Percentage, EMA, Highest/Lowest, Standard Deviation, and multiple target-based methods.
- exit_after_close: If checked, exits the trade only after the candle closes.
Optional Inputs:
ATR Settings:
- atr_Length: Length for the ATR calculation.
- atr_factor: ATR multiplier for SL calculation.
Parabolic SAR Settings:
- start, increment, maximum: Parameters for the Parabolic SAR indicator.
Supertrend Settings:
- supertrend_Length, supertrend_factor: Length and factor for the Supertrend indicator.
Point/Pip Based:
- point_base: Set trailing SL in points/pips.
Percentage Based:
- percentage_base: Set SL as a percentage of entry price.
EMA Settings:
- ema_Length: Length for EMA calculation.
Standard Deviation Settings:
- std_Length, std_factor: Length and factor for standard deviation calculation.
Highest/Lowest Settings:
- highest_lowest_Length: Length for the highest/lowest SL calculation.
Target-Based Inputs:
- ATR, Point, Percentage, and Standard Deviation based target SL settings with customizable lengths and multipliers.
Entry Logic:
- Trades initiate based on the entry_type selected and the specified bar_time.
- If Long is selected, a long trade is initiated when the conditions match, and vice versa for Short.
Trailing Stop-Loss (SL) Methods Explained:
The strategy dynamically adjusts stop-loss based on the chosen method. Each method has its calculation logic:
- ATR: Stop-loss calculated using ATR multiplied by a user-defined factor.
- Parabolic SAR: Uses the Parabolic SAR indicator for trailing stop-loss.
- Supertrend: Utilizes the Supertrend indicator as the stop-loss line.
- Point/Pip Based: Fixed point-based stop-loss.
- Percentage Based: SL set as a percentage of entry price.
- EMA: SL based on the Exponential Moving Average.
- Highest/Lowest: Uses the highest high or lowest low over a specified period.
- Standard Deviation: SL calculated using standard deviation.
Exit Conditions:
- If exit_after_close is enabled, the position will only close after the candle confirms the stop-loss hit.
- If exit_after_close is disabled, the strategy will close the trade immediately when the SL is breached.
Visualization:
The script plots the chosen trailing stop-loss method on the chart for easy visualization.
Target-Based Trailing SL Logic:
- When a position is opened, the strategy calculates the initial stop-loss and progressively adjusts it as the price moves favorably.
- Each SL adjustment is stored in an array for accurate tracking and visualization.
Alerts and Labels:
- When the Entry or trailing stop loss is hit this scripts draws a label and give alert to the user that trailing stop has been hit for the trade.
Note - on the historical data The Script will show nothing if the entry and the exit has happened on the same candle, because we don't know what was hit first SL or TP (basically how the candle was formed on the lower timeframe).
Summary:
This script offers flexible trailing stop-loss options for traders who want dynamic risk management in their strategies. By offering multiple methods like ATR, SAR, Supertrend, and EMA, it caters to various trading styles and risk preferences.
00 Averaging Down Backtest Strategy by RPAlawyer v21FOR EDUCATIONAL PURPOSES ONLY! THE CODE IS NOT YET FULLY DEVELOPED, BUT IT CAN PROVIDE INTERESTING DATA AND INSIGHTS IN ITS CURRENT STATE.
This strategy is an 'averaging down' backtester strategy. The goal of averaging/doubling down is to buy more of an asset at a lower price to reduce your average entry price.
This backtester code proves why you shouldn't do averaging down, but the code can be developed (and will be developed) further, and there might be settings even in its current form that prove that averaging down can be done effectively.
Different averaging down strategies exist:
- Linear/Fixed Amount: buy $1000 every time price drops 5%
- Grid Trading: Placing orders at price levels, often with increasing size, like $1000 at -5%, $2000 at -10%
- Martingale: doubling the position size with each new entry
- Reverse Martingale: decreasing position size as price falls: $4000, then $2000, then $1000
- Percentage-Based: position size based on % of remaining capital, like 10% of available funds at each level
- Dynamic/Adaptive: larger entries during high volatility, smaller during low
- Logarithmic: position sizes increase logarithmically as price drops
Unlike the above average costing strategies, it applies averaging down (I use DCA as a synonym) at a very strong trend reversal. So not at a certain predetermined percentage negative PNL % but at a trend reversal signaled by an indicator - hence it most closely resembles a dynamically moving grid DCA strategy.
Both entering the trade and averaging down assume a strong trend. The signals for trend detection are provided by an indicator that I published under the name '00 Parabolic SAR Trend Following Signals by RPAlawyer', but any indicator that generates numeric signals of 1 and -1 for buy and sell signals can be used.
The indicator must be connected to the strategy: in the strategy settings under 'External Source' you need to select '00 Parabolic SAR Trend Following Signals by RPAlawyer: Connector'. From this point, the strategy detects when the indicator generates buy and sell signals.
The strategy considers a strong trend when a buy signal appears above a very conservative ATR band, or a sell signal below the ATR band. The conservative ATR is chosen to filter ranging markets. This very conservative ATR setting has a default multiplier of 8 and length of 40. The multiplier can be increased up to 10, but there will be very few buy and sell signals at that level and DCA requirements will be very high. Trade entry and DCA occur at these strong trends. In the settings, the 'ATR Filter' setting determines the entry condition (e.g., ATR Filter multiplier of 9), and the 'DCA ATR' determines when DCA will happen (e.g., DCA ATR multiplier of 6).
The DCA levels and DCA amounts are determined as follows:
The first DCA occurs below the DCA Base Deviation% level (see settings, default 3%) which acts as a threshold. The thick green line indicates the long position avg price, and the thin red line below the green line indicates the 3% DCA threshold for long positions. The thick red line indicates the short position avg price, and the thin red line above the thick red line indicates the short position 3% DCA threshold. DCA size multiplier defines the DCA amount invested.
If the loss exceeds 3% AND a buy signal arrives below the lower ATR band for longs, or a sell signal arrives above the upper ATR band for shorts, then the first DCA will be executed. So the first DCA won't happen at 3%, rather 3% is a threshold where the additional condition is that the price must close above or below the ATR band (let's say the first DCA occured at 8%) – this is why the code resembles a dynamic grid strategy, where the grid moves such that alongside the first 3% threshold, a strong trend must also appear for DCA. At this point, the thick green/red line moves because the avg price is modified as a result of the DCA, and the thin red line indicating the next DCA level also moves. The next DCA level is determined by the first DCA level, meaning modified avg price plus an additional +8% + (3% * the Step Scale Multiplier in the settings). This next DCA level will be indicated by the modified thin red line, and the price must break through this level and again break through the ATR band for the second DCA to occur.
Since all this wasn't complicated enough, and I was always obsessed by the idea that when we're sitting in an underwater position for days, doing DCA and waiting for the price to correct, we can actually enter a short position on the other side, on which we can realize profit (if the broker allows taking hedge positions, Binance allows this in Europe).
This opposite position in this strategy can open from the point AFTER THE FIRST DCA OF THE BASE POSITION OCCURS. This base position first DCA actually indicates that the price has already moved against us significantly so time to earn some money on the other side. Breaking through the ATR band is also a condition for entry here, so the hedge position entry is not automatic, and the condition for further DCA is breaking through the DCA Base Deviation (default 3%) and breaking through the ATR band. So for the 'hedge' or rather opposite position, the entry and further DCA conditions are the same as for the base position. The hedge position avg price is indicated by a thick black line and the Next Hedge DCA Level is indicated by a thin black line.
The TPs are indicated by green labels for base positions and red labels for hedge positions.
No SL built into the strategy at this point but you are free to do your coding.
Summary data can be found in the upper right corner.
The fantastic trend reversal indicator Machine learning: Lorentzian Classification by jdehorty can be used as an external indicator, choose 'backtest stream' for the external source. The ATR Band multiplicators need to be reduced to 5-6 when using Lorentz.
The code can be further developed in several aspects, and as I write this, I already have a few ideas 😊
Outside Bar Strategy % (Alessio)Outside Bar Strategy %
This strategy is based on identifying Outside Bars, which occur when the current bar's high is higher than the previous bar's high and its low is lower than the previous bar's low. The strategy enters trades in the direction of the Outside Bar, offering a powerful way to capture price moves following a strong price expansion.
Key Features:
Long and Short Entries: The strategy enters a Long trade when the Outside Bar closes bullish (current close > open), and a Short trade when the Outside Bar closes bearish (current close < open).
Customizable Entry Levels: The entry point is calculated based on a customizable percentage of the Outside Bar's range, allowing flexibility for traders to fine-tune their entries at 50% or 70% of the bar's range.
Stop Loss (SL) and Take Profit (TP):
Stop Loss (SL) is automatically placed at the Outside Bar's low for Long trades and at its high for Short trades.
Take Profit (TP) is calculated as a percentage of the Outside Bar's range, with customizable settings for take-profit levels.
Visual Indicators:
Entry, Stop Loss, and Take Profit levels are plotted as lines on the chart, with customizable colors and widths for easy identification.
Labels are placed on the chart to indicate whether the trade is Long or Short, positioned above or below the Outside Bar's candlestick.
Alerts: Users can enable alerts to receive notifications when a trade is triggered, including details such as entry points and stop loss levels.
Strategy Parameters:
Entry Percentage: Set the entry level as a percentage of the Outside Bar's range (e.g., 50%, 70%).
Take Profit Percentage: Customize the Take Profit level as a percentage of the Outside Bar's range.
Customizable Colors and Line Widths: Adjust the colors and thickness of the entry, stop loss, and take profit lines to fit your preferences.
Alerts: Enable alerts to be notified when a trade is executed or when the entry level is reached.
This strategy is ideal for traders who want to capitalize on significant price moves after a breakout, with clear risk management through Stop Loss and Take Profit levels. The customizable features make it suitable for various market conditions and trading styles.
Stop Loss & TargetHow to Use the SL/TP Indicator
The SL/TP indicator is a versatile tool designed for traders to easily visualize entry, stop-loss (SL), and take-profit (TP) levels on their charts. This guide will walk you through the steps to configure and use the indicator effectively.
Features:
Configure Long Trades and Short Trades independently.
Define Entry Price, Stop Loss, and up to three Take Profit levels for each trade.
Customize line colors for better visualization.
Works for both risk-reward and target-based trading.
Adding the Indicator:
Open the TradingView platform.
Search for the indicator name: SL/TP.
Click the Add to Chart button to apply it.
Configuration:
1. Long Trade Settings
Enable Long Trade: Check this option to activate long trade lines on the chart.
Long Entry Price: Input the price at which you plan to enter the long trade.
Long Stop Loss: Input your stop-loss level for the long trade.
Line Colors: You can customize the colors for the Entry, SL, and TP lines in the Long Trade settings group.
Take Profit Levels (Calculated Automatically):
TP1: 1:1 Risk-Reward ratio (difference between Entry and SL added to Entry).
TP2: 1:2 Risk-Reward ratio.
TP3: 1:3 Risk-Reward ratio.
2. Short Trade Settings
Enable Short Trade: Check this option to activate short trade lines on the chart.
Short Entry Price: Input the price at which you plan to enter the short trade.
Short Stop Loss: Input your stop-loss level for the short trade.
Line Colors: You can customize the colors for the Entry, SL, and TP lines in the Short Trade settings group.
Take Profit Levels (Calculated Automatically):
TP1: 1:1 Risk-Reward ratio (difference between Entry and SL subtracted from Entry).
TP2: 1:2 Risk-Reward ratio.
TP3: 1:3 Risk-Reward ratio.
Visualizing on the Chart:
Once you configure the settings and enable the trade, the indicator will draw horizontal lines on the chart for:
Entry Price
Stop Loss
Take Profit Levels (TP1, TP2, TP3)
Each line will extend to three bars ahead of the current bar index.
Customization:
Adjust colors for better visibility depending on your chart theme.
The width and style of lines can also be modified in the source code if needed.
Example Usage:
Long Trade Example:
Enable Long Trade: Check the box.
Set Entry Price: 100.
Set Stop Loss: 95.
The indicator will draw the following lines:
Entry Line: At 100 (customizable color).
Stop Loss Line: At 95 (customizable color).
TP1 Line: At 105 (1:1 Risk-Reward).
TP2 Line: At 110 (1:2 Risk-Reward).
TP3 Line: At 115 (1:3 Risk-Reward).
Short Trade Example:
Enable Short Trade: Check the box.
Set Entry Price: 200.
Set Stop Loss: 205.
The indicator will draw the following lines:
Entry Line: At 200 (customizable color).
Stop Loss Line: At 205 (customizable color).
TP1 Line: At 195 (1:1 Risk-Reward).
TP2 Line: At 190 (1:2 Risk-Reward).
TP3 Line: At 185 (1:3 Risk-Reward).
Notes:
Ensure that you input valid and realistic price levels for Entry and Stop Loss.
The indicator will only display lines if both the Entry Price and Stop Loss are non-zero.
Use this indicator for planning trades visually but always confirm levels with your trading strategy.
Disclaimer: This indicator is a tool to assist in trading. Use it with proper risk management and your own due diligence.
Autonomous 5-Minute RobotKey Components of the Strategy:
Trend Detection:
A 50-period simple moving average (SMA) is used to define the market trend. If the current close is above the SMA, the market is considered to be in an uptrend (bullish), and if it's below, it's considered a downtrend (bearish).
The strategy also looks at the trend over the last 30 minutes (6 candles in a 5-minute chart). The strategy compares the previous close with the current close to detect an uptrend or downtrend.
Volume Analysis:
The strategy calculates buyVolume and sellVolume based on price movement within each candle.
The condition for entering a long position is when the market is in an uptrend, and the buy volume is greater than the sell volume.
The condition for entering a short position is when the market is in a downtrend, and the sell volume is greater than the buy volume.
Trade Execution:
The strategy enters a long position when the trend is up and the buy volume is higher than the sell volume.
The strategy enters a short position when the trend is down and the sell volume is higher than the buy volume.
Positions are closed based on stop-loss and take-profit conditions.
Stop-loss is set at 3% below the entry price.
Take-profit is set at 29% above the entry price.
Exit Conditions:
Long trades will be closed if the price falls 3% below the entry price or rises 29% above the entry price.
Short trades will be closed if the price rises 3% above the entry price or falls 29% below the entry price.
Visuals:
The SMA (50-period) is plotted on the chart to show the trend.
Buy and sell signals are marked with labels on the chart for easy identification.
With this being said this algo is still being worked on to be autonomous
Analyze the Market Direction: Determine whether the market is in an uptrend or downtrend over the past 30 minutes (using the last 6 candles in a 5-minute chart).
Use Trend Indicators and Volume: Implement trend-following indicators like moving averages or the SMA/EMA crossover and consider volume to decide when to enter or exit a trade.
Enter and Exit Trades: The robot will enter long positions when the trend is up and short positions when the trend is down. Additionally, it will close positions based on volume signals and price action (e.g., volume spikes, price reversals).
Nen Star Harmonic Pattern [TradingFinder] NenStar Reversal Auto🔵 Introduction
The Nen-Star Harmonic Pattern is an advanced reversal pattern in technical analysis, designed to identify market trend changes and predict key price reversal points. This pattern is defined by a combination of Fibonacci ratios and critical concepts such as Potential Reversal Zones (PRZ), market structure, and corrective waves.
The key points of this pattern include X, A, B, C, and D, and it appears in both bullish and bearish forms. In its bullish form, the pattern resembles the letter M, while in its bearish form, it takes the shape of W. The critical Fibonacci ratios for this pattern are 0.382 to 0.786 for the XA wave, 1.13 to 1.414 for the AB wave, and 1.272 to 2.618 for the BC wave.
The Nen-Star Harmonic Pattern is one of the most precise tools for identifying market reversals and executing reversal trades. Traders can use it to pinpoint optimal entry and exit points and benefit from high risk-to-reward ratios.
By emphasizing Fibonacci retracement levels, XABCD waves, the formation of bullish and bearish patterns, and precise trade entry points, this pattern has become a practical tool in advanced technical analysis.
Bullish Nen-Star Pattern :
Bearish Nen-Star Pattern :
🔵 How to Use
The Nen-Star Harmonic Pattern indicator allows traders to automatically identify the bullish and bearish structures of this pattern and locate optimal entry and exit points. By accurately analyzing Fibonacci ratios and determining points X, A, B, C, and D, the indicator highlights Potential Reversal Zones (PRZ) on the chart. Traders can rely on the generated signals to manage their trades with greater precision.
🟣 Bullish Nen-Star Pattern
The bullish Nen-Star pattern begins with a price increase from point X to point A, followed by a retracement to point B, which lies between 0.382 and 0.786 of the XA wave.
After this retracement, the price moves to point C, located between 1.13 and 1.414 of the AB wave. The final movement is a price decline to point D, which is between 1.272 and 2.618 of the BC wave and 1.13 to 1.272 of the XA wave.
Point D : Serves as the key Potential Reversal Zone (PRZ).
Entry : A buy trade is initiated at point D, signaling the end of the corrective movement and the beginning of a price increase.
Price Targets :
61.8% retracement of the CD wave
Point A
Point C
1.272 and 1.618 extensions of the CD wave if resistance at point C is broken
Stop Loss : Placed slightly below point D.
🟣 Bearish Nen-Star Pattern
The bearish Nen-Star pattern starts with a price decrease from point X to point A, followed by a retracement to point B, which lies between 0.382 and 0.786 of the XA wave.
After this retracement, the price moves to point C, located between 1.13 and 1.414 of the AB wave. The final movement is a price increase to point D, which is between 1.272 and 2.618 of the BC wave and 1.13 to 1.272 of the XA wave.
Point D : Serves as the key Potential Reversal Zone (PRZ).
Entry : A sell trade is initiated at point D, signaling the end of the corrective movement and the beginning of a price decline.
Price Targets :
61.8% retracement of the CD wave
Point A
Point C
1.272 and 1.618 extensions of the CD wave if support at point C is broken
Stop Loss : Placed slightly above point D.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Nen-Star Harmonic Pattern is a highly effective analytical tool in global financial markets, playing a crucial role in identifying reversal points and market trend changes. By leveraging Fibonacci principles and price structure, this pattern enables precise analysis across various assets, including stocks, cryptocurrencies, forex, and commodities.
Traders operating in global markets can use this pattern to identify high risk-to-reward trading opportunities. Its clear entry and exit points, defined Potential Reversal Zones (PRZ), and accurate price targets make it an excellent tool for risk management and profitability enhancement.
In the global context, the Nen-Star pattern is widely used by professional analysts in both advanced and emerging markets due to its versatility in analyzing long-term and short-term charts. Beyond trend prediction, it enhances trading strategies and optimizes investment decisions.
Combining this pattern with complementary tools such as volume analysis, technical indicators, and macroeconomic conditions can provide traders with deeper market insights, helping them capitalize on global opportunities.
4Vietnamese 3x SupertrendThis strategy attempts to capture long positions in the Vietnamese stock market using a combination of three Supertrend indicators and additional filters. It utilizes pyramiding to enter up to three long positions with a 33.33% allocation each.
Key Elements:
Supertrend Indicators: Three Supertrend indicators are used with different lengths and multipliers to identify potential trend changes.
Entry Conditions:
The strategy looks for a downtrend on the slowest Supertrend (Supertrend3) followed by uptrends on the medium (Supertrend2) and fast (Supertrend1) Supertrends.
Alternatively, if Supertrend3 is still downtrending, but Supertrend1 is downtrending and a significant previous high (highestGreen) exists, an entry signal is generated.
An optional filter allows using the highest of the last two red candles for highestGreen calculation.
Entry Stop Loss:
An optional stop loss can be set based on the entry price of previous long positions, preventing further losses if the price falls below entry prices.
Exit Conditions:
Three exit options are available:
- All Downtrend Exit: Close all positions if all Supertrends turn uptrend and a bearish candlestick pattern (close price lower than open price) is formed.
- Average Price in Loss Exit: Close all positions if the average entry price of open positions is higher than the current closing price (indicating a loss).
- All Positions in Loss Exit: Close all positions if any of the following conditions are met:
A single open position exists, and its entry price is higher than the current close price.
Two open positions exist, and their entry prices are both higher than the current close price.
Three open positions exist, and their entry prices are all higher than the current close price.
Pyramiding: The strategy allows entering up to three long positions with a fixed allocation of 33.33% each.
Customization Options:
The strategy provides various input parameters to customize its behavior:
Supertrend lengths and multipliers for each indicator.
Option to use the highest of the last two red candles for highestGreen calculation.
Enabling/disabling Entry Stop Loss and different exit conditions.
Further Enhancements:
Explore additional entry and exit filters to refine trade signals.
Consider incorporating risk management techniques like position sizing and trailing stops.
Backtest the strategy with historical data to evaluate its effectiveness and identify potential areas for improvement.
EMA Crossover Strategy with Take Profit and Candle HighlightingStrategy Overview:
This strategy is based on the Exponential Moving Averages (EMA), specifically the EMA 20 and EMA 50. It takes advantage of EMA crossovers to identify potential trend reversals and uses multiple take-profit levels and a stop-loss for risk management.
Key Components:
EMA Crossover Signals:
Buy Signal (Uptrend): A buy signal is generated when the EMA 20 crosses above the EMA 50, signaling the start of a potential uptrend.
Sell Signal (Downtrend): A sell signal is generated when the EMA 20 crosses below the EMA 50, signaling the start of a potential downtrend.
Take Profit Levels:
Once a buy or sell signal is triggered, the strategy calculates multiple take-profit levels based on the range of the previous candle. The user can define multipliers for each take-profit level.
Take Profit 1 (TP1): 50% of the previous candle's range above or below the entry price.
Take Profit 2 (TP2): 100% of the previous candle's range above or below the entry price.
Take Profit 3 (TP3): 150% of the previous candle's range above or below the entry price.
Take Profit 4 (TP4): 200% of the previous candle's range above or below the entry price.
These levels are adjusted dynamically based on the previous candle's high and low, so they adapt to changing market conditions.
Stop Loss:
A stop-loss is set to manage risk. The default stop-loss is 3% from the entry price, but this can be adjusted in the settings. The stop-loss is triggered if the price moves against the position by this amount.
Trend Direction Highlighting:
The strategy highlights the bars (candles) with colors:
Green bars indicate an uptrend (when EMA 20 crosses above EMA 50).
Red bars indicate a downtrend (when EMA 20 crosses below EMA 50).
These visual cues help users easily identify the market direction.
Strategy Entries and Exits:
Entries: The strategy enters a long (buy) position when the EMA 20 crosses above the EMA 50 and a short (sell) position when the EMA 20 crosses below the EMA 50.
Exits: The strategy exits the positions at any of the defined take-profit levels or the stop-loss. Multiple exit levels provide opportunities to take profit progressively as the price moves in the favorable direction.
Entry and Exit Conditions in Detail:
Buy Entry Condition (Uptrend):
A buy position is opened when EMA 20 crosses above EMA 50, signaling the start of an uptrend.
The strategy calculates take-profit levels above the entry price based on the previous bar's range (high-low) and the multipliers for TP1, TP2, TP3, and TP4.
Sell Entry Condition (Downtrend):
A sell position is opened when EMA 20 crosses below EMA 50, signaling the start of a downtrend.
The strategy calculates take-profit levels below the entry price, similarly based on the previous bar's range.
Exit Conditions:
Take Profit: The strategy attempts to exit the position at one of the take-profit levels (TP1, TP2, TP3, or TP4). If the price reaches any of these levels, the position is closed.
Stop Loss: The strategy also has a stop-loss set at a default value (3% below the entry for long trades, and 3% above for short trades). The stop-loss helps to protect the position from significant losses.
Backtesting and Performance Metrics:
The strategy can be backtested using TradingView's Strategy Tester. The results will show how the strategy would have performed historically, including key metrics like:
Net Profit
Max Drawdown
Win Rate
Profit Factor
Average Trade Duration
These performance metrics can help users assess the strategy's effectiveness over historical periods and optimize the input parameters (e.g., multipliers, stop-loss level).
Customization:
The strategy allows for the adjustment of several key input values via the settings panel:
Take Profit Multipliers: Users can customize the multipliers for each take-profit level (TP1, TP2, TP3, TP4).
Stop Loss Percentage: The user can also adjust the stop-loss percentage to a custom value.
EMA Periods: The default periods for the EMA 50 and EMA 20 are fixed, but they can be adjusted for different market conditions.
Pros of the Strategy:
EMA Crossover Strategy: A classic and well-known strategy used by traders to identify the start of new trends.
Multiple Take Profit Levels: By taking profits progressively at different levels, the strategy locks in gains as the price moves in favor of the position.
Clear Trend Identification: The use of green and red bars makes it visually easier to follow the market's direction.
Risk Management: The stop-loss and take-profit features help to manage risk and optimize profit-taking.
Cons of the Strategy:
Lagging Indicators: The strategy relies on EMAs, which are lagging indicators. This means that the strategy might enter trades after the trend has already started, leading to missed opportunities or less-than-ideal entry prices.
No Confirmation Indicators: The strategy purely depends on the crossover of two EMAs and does not use other confirming indicators (e.g., RSI, MACD), which might lead to false signals in volatile markets.
How to Use in Real-Time Trading:
Use for Backtesting: Initially, use this strategy in backtest mode to understand how it would have performed historically with your preferred settings.
Paper Trading: Once comfortable, you can use paper trading to test the strategy in real-time market conditions without risking real money.
Live Trading: After testing and optimizing the strategy, you can consider using it for live trading with proper risk management in place (e.g., starting with a small position size and adjusting parameters as needed).
Summary:
This strategy is designed to identify trend reversals using EMA crossovers, with customizable take-profit levels and a stop-loss to manage risk. It's well-suited for traders looking for a systematic way to enter and exit trades based on clear market signals, while also providing flexibility to adjust for different risk profiles and trading styles.
EMA SHIFT & PARALLEL [n_dot]BINANCE:ETHUSDT.P
This strategy was developed for CRYPTO FUTURES, (the settings for ETHUSDT.P) . I aimed for the strategy to function in a live environment, so I focused on making its operation realistic:
When determining the position, only 80% (adjustable) of the available cash is invested to reduce the risk of position liquidation.
I account for a 0.05% commission, typical on the futures market, for each entry and exit.
Concept:
I modified a simple, well-known method: the crossover of two exponential moving averages (FAST, SLOW) generates the entry and exit signals.
I enhanced the base idea as follows:
For the fast EMA, I incorporated a multiplier (offset) to filter out market noise and focus only on strong signals.
I use different EMAs for long and short entry points; both have their own FAST and SLOW EMAs and their own offset. For longs, the FAST EMA is adjusted downward (<1), while for shorts, it is adjusted upward (>1). Consequently, the signal is generated when the modified FAST EMA crosses the SLOW EMA.
Risk Management:
The position includes the following components:
Separate stop-losses for long and short positions.
Separate trailers for long and short positions.
The strategy operates so that the entry point is determined by the EMA crossover, while the exit is governed only by the Stop Loss or Trailer. Optionally, it can be set to close the position at the EMA recrossing ("Close at Signal").
Trailer Operation:
An entry percentage and offset are defined. The trailer activates when the price surpasses the entry price, calculated automatically by the system.
The trailer closes the position when the price drops by the offset percentage from the highest reached price.
Example for trailer:
Purchase Price = 100
Trailer Enter = 5% → Activation Price = 105 (triggers trailer if market price crosses it).
Trailer Offset = 2%
If the price rises to 110, the exit price becomes 107.8.
If the price goes to 120, the exit price becomes 117.6.
If the price falls below 117.6, the trailer closes the position.
Settings:
Source: Determines the market price reference.
End Close: Closes positions at the end of the simulation to avoid "shadow positions" and provide an objective result.
Lot proportional to free cash (%): Only a portion of free cash is invested to meet margin requirements.
Plot Short, Plot Long: Simplifies displayed information by toggling indicator lines on/off.
Long Position (toggleable):
EMA Fast ws: Window size for FAST EMA.
EMA Slow ws: Window size for SLOW EMA.
EMA Fast down shift: Adjustment factor for FAST EMA.
Stop Loss long (%): Percent drop to close the position.
Trailer enter (%): Percent above the purchase price to activate the trailer.
Trailer offset (%): Percent drop to close the position.
Short Position (toggleable):
EMA Fast ws: Window size for FAST EMA.
EMA Slow ws: Window size for SLOW EMA.
EMA Fast up shift: Adjustment factor for FAST EMA.
Stop Loss short (%): Percent rise to close the position.
Trailer enter (%): Percent below the purchase price to activate the trailer.
Trailer offset (%): Percent rise to close the position.
Operational Framework:
If in a long position and a short EMA crossover occurs, the strategy closes the long and opens a short (flip).
If in a short position and a long EMA crossover occurs, the strategy closes the short and opens a long (flip).
A position can close in three ways:
Stop Loss
Trailer
Signal Recrossing
If none are active, the position remains open until the end of the simulation.
Observations:
Shifts significantly deviating from 1 increase overfitting risk. Recommended ranges: 0.96–0.99 (long) and 1.01–1.05 (short).
The strategy's advantage lies in risk management, crucial in leveraged futures markets. It operates with relatively low DrawDown.
Recommendations:
Bullish Market: Higher entry threshold (e.g., 6%) and larger offset (e.g., 3%).
Volatile/Sideways Market: Tighter parameters (e.g., 3%, 1%).
The method is stable, and minor parameter adjustments do not significantly impact results, helping assess overfitting: if small changes lead to drastic differences, the strategy is over-optimized.
EMA Settings: Adjust FAST and SLOW EMAs based on the asset's volatility and cyclicality.
On the crypto market, especially in the Futures market, short time periods (1–15 minutes) often show significant noise, making patterns/repetitions hard to identify. I recommend setting the interval to at least 1 hour.
I hope this contributes to your success!
DCA Strategy with HedgingThis strategy implements a dynamic hedging system with Dollar-Cost Averaging (DCA) based on the 34 EMA. It can hold simultaneous long and short positions, making it suitable for ranging and trending markets.
Key Features:
Uses 34 EMA as baseline indicator
Implements hedging with simultaneous long/short positions
Dynamic DCA for position management
Automatic take-profit adjustments
Entry confirmation using 3-candle rule
How it Works
Long Entries:
Opens when price closes above 34 EMA for 3 candles
Adds positions every 0.1% price drop
Takes profit at 0.05% above average entry
Short Entries:
Opens when price closes below 34 EMA for 3 candles
Adds positions every 0.1% price rise
Takes profit at 0.05% below average entry
Settings
EMA Length: Controls the EMA period (default: 34)
DCA Interval: Price movement needed for additional entries (default: 0.1%)
Take Profit: Profit target from average entry (default: 0.05%)
Initial Position: Starting position size (default: 1.0)
Indicators
L: Long Entry
DL: Long DCA
S: Short Entry
DS: Short DCA
LTP: Long Take Profit
STP: Short Take Profit
Alerts
Compatible with all standard TradingView alerts:
Position Opens (Long/Short)
DCA Entries
Take Profit Hits
Note: This strategy works best on lower timeframes with high liquidity pairs. Adjust parameters based on asset volatility.
Omega_galskyThe strategy uses three Exponential Moving Averages (EMAs) — EMA8, EMA21, and EMA89 — to decide when to open buy or sell trades. It also includes a mechanism to move the Stop Loss (SL) to the Break-Even (BE) point, which is the entry price, once the price reaches a Risk-to-Reward (R2R) ratio of 1:1.
Key Steps:
Calculating EMAs: The script computes the EMA values for the specified periods. These help identify market trends and potential entry points.
Buy Conditions:
EMA8 crosses above EMA21.
The candle that causes the crossover is green (closing price is higher than the opening price).
The closing price is above EMA89.
If all conditions are met, a buy order is executed.
Sell Conditions:
EMA8 crosses below EMA21.
The candle that causes the crossover is red (closing price is lower than the opening price).
The closing price is below EMA89.
If all conditions are met, a sell order is executed.
Stop Loss and Take Profit:
Initial Stop Loss and Take Profit levels are calculated based on the entry price and a percentage defined by the user.
These levels help protect against large losses and lock in profits.
Break-Even Logic:
When the price moves favorably to reach a 1:1 R2R ratio:
For a buy trade, the Stop Loss is moved to the entry price if the price increases sufficiently.
For a sell trade, the Stop Loss is moved to the entry price if the price decreases sufficiently.
This ensures the trade is risk-free after the price reaches the predefined level.
Visual Representation:
The EMAs are plotted on the chart for easy visualization of trends and crossovers.
Entry and exit points are also marked on the chart to track trades.
Purpose:
The strategy is designed to capitalize on EMA crossovers while minimizing risks using Break-Even logic and predefined Stop Loss/Take Profit levels. It automates decision-making for trend-following traders and ensures disciplined risk management.
Kernel Regression Envelope with SMI OscillatorThis script combines the predictive capabilities of the **Nadaraya-Watson estimator**, implemented by the esteemed jdehorty (credit to him for his excellent work on the `KernelFunctions` library and the original Nadaraya-Watson Envelope indicator), with the confirmation strength of the **Stochastic Momentum Index (SMI)** to create a dynamic trend reversal strategy. The core idea is to identify potential overbought and oversold conditions using the Nadaraya-Watson Envelope and then confirm these signals with the SMI before entering a trade.
**Understanding the Nadaraya-Watson Envelope:**
The Nadaraya-Watson estimator is a non-parametric regression technique that essentially calculates a weighted average of past price data to estimate the current underlying trend. Unlike simple moving averages that give equal weight to all past data within a defined period, the Nadaraya-Watson estimator uses a **kernel function** (in this case, the Rational Quadratic Kernel) to assign weights. The key parameters influencing this estimation are:
* **Lookback Window (h):** This determines how many historical bars are considered for the estimation. A larger window results in a smoother estimation, while a smaller window makes it more reactive to recent price changes.
* **Relative Weighting (alpha):** This parameter controls the influence of different time frames in the estimation. Lower values emphasize longer-term price action, while higher values make the estimator more sensitive to shorter-term movements.
* **Start Regression at Bar (x\_0):** This allows you to exclude the potentially volatile initial bars of a chart from the calculation, leading to a more stable estimation.
The script calculates the Nadaraya-Watson estimation for the closing price (`yhat_close`), as well as the highs (`yhat_high`) and lows (`yhat_low`). The `yhat_close` is then used as the central trend line.
**Dynamic Envelope Bands with ATR:**
To identify potential entry and exit points around the Nadaraya-Watson estimation, the script uses **Average True Range (ATR)** to create dynamic envelope bands. ATR measures the volatility of the price. By multiplying the ATR by different factors (`nearFactor` and `farFactor`), we create multiple bands:
* **Near Bands:** These are closer to the Nadaraya-Watson estimation and are intended to identify potential immediate overbought or oversold zones.
* **Far Bands:** These are further away and can act as potential take-profit or stop-loss levels, representing more extreme price extensions.
The script calculates both near and far upper and lower bands, as well as an average between the near and far bands. This provides a nuanced view of potential support and resistance levels around the estimated trend.
**Confirming Reversals with the Stochastic Momentum Index (SMI):**
While the Nadaraya-Watson Envelope identifies potential overextended conditions, the **Stochastic Momentum Index (SMI)** is used to confirm a potential trend reversal. The SMI, unlike a traditional stochastic oscillator, oscillates around a zero line. It measures the location of the current closing price relative to the median of the high/low range over a specified period.
The script calculates the SMI on a **higher timeframe** (defined by the "Timeframe" input) to gain a broader perspective on the market momentum. This helps to filter out potential whipsaws and false signals that might occur on the current chart's timeframe. The SMI calculation involves:
* **%K Length:** The lookback period for calculating the highest high and lowest low.
* **%D Length:** The period for smoothing the relative range.
* **EMA Length:** The period for smoothing the SMI itself.
The script uses a double EMA for smoothing within the SMI calculation for added smoothness.
**How the Indicators Work Together in the Strategy:**
The strategy enters a long position when:
1. The closing price crosses below the **near lower band** of the Nadaraya-Watson Envelope, suggesting a potential oversold condition.
2. The SMI crosses above its EMA, indicating positive momentum.
3. The SMI value is below -50, further supporting the oversold idea on the higher timeframe.
Conversely, the strategy enters a short position when:
1. The closing price crosses above the **near upper band** of the Nadaraya-Watson Envelope, suggesting a potential overbought condition.
2. The SMI crosses below its EMA, indicating negative momentum.
3. The SMI value is above 50, further supporting the overbought idea on the higher timeframe.
Trades are closed when the price crosses the **far band** in the opposite direction of the trade. A stop-loss is also implemented based on a fixed value.
**In essence:** The Nadaraya-Watson Envelope identifies areas where the price might be deviating significantly from its estimated trend. The SMI, calculated on a higher timeframe, then acts as a confirmation signal, suggesting that the momentum is shifting in the direction of a potential reversal. The ATR-based bands provide dynamic entry and exit points based on the current volatility.
**How to Use the Script:**
1. **Apply the script to your chart.**
2. **Adjust the "Kernel Settings":**
* **Lookback Window (h):** Experiment with different values to find the smoothness that best suits the asset and timeframe you are trading. Lower values make the envelope more reactive, while higher values make it smoother.
* **Relative Weighting (alpha):** Adjust to control the influence of different timeframes on the Nadaraya-Watson estimation.
* **Start Regression at Bar (x\_0):** Increase this value if you want to exclude the initial, potentially volatile, bars from the calculation.
* **Stoploss:** Set your desired stop-loss value.
3. **Adjust the "SMI" settings:**
* **%K Length, %D Length, EMA Length:** These parameters control the sensitivity and smoothness of the SMI. Experiment to find settings that work well for your trading style.
* **Timeframe:** Select the higher timeframe you want to use for SMI confirmation.
4. **Adjust the "ATR Length" and "Near/Far ATR Factor":** These settings control the width and sensitivity of the envelope bands. Smaller ATR lengths make the bands more reactive to recent volatility.
5. **Customize the "Color Settings"** to your preference.
6. **Observe the plots:**
* The **Nadaraya-Watson Estimation (yhat)** line represents the estimated underlying trend.
* The **near and far upper and lower bands** visualize potential overbought and oversold zones based on the ATR.
* The **fill areas** highlight the regions between the near and far bands.
7. **Look for entry signals:** A long entry is considered when the price touches or crosses below the lower near band and the SMI confirms upward momentum. A short entry is considered when the price touches or crosses above the upper near band and the SMI confirms downward momentum.
8. **Manage your trades:** The script provides exit signals when the price crosses the far band. The fixed stop-loss will also close trades if the price moves against your position.
**Justification for Combining Nadaraya-Watson Envelope and SMI:**
The combination of the Nadaraya-Watson Envelope and the SMI provides a more robust approach to identifying potential trend reversals compared to using either indicator in isolation. The Nadaraya-Watson Envelope excels at identifying potential areas where the price is overextended relative to its recent history. However, relying solely on the envelope can lead to false signals, especially in choppy or volatile markets. By incorporating the SMI as a confirmation tool, we add a momentum filter that helps to validate the potential reversals signaled by the envelope. The higher timeframe SMI further helps to filter out noise and focus on more significant shifts in momentum. The ATR-based bands add a dynamic element to the entry and exit points, adapting to the current market volatility. This mashup aims to leverage the strengths of each indicator to create a more reliable trading strategy.
three Supertrend EMA Strategy by Prasanna +DhanuThe indicator described in your Pine Script is a Supertrend EMA Strategy that combines the Supertrend and EMA (Exponential Moving Average) to create a trend-following strategy. Here’s a detailed breakdown of how this indicator works:
1. EMA (Exponential Moving Average):
The EMA is a moving average that places more weight on recent prices, making it more responsive to price changes compared to a simple moving average (SMA). In this strategy, the EMA is used to determine the overall trend direction.
Input Parameter:
ema_length: This is the period for the EMA, set to 50 periods by default. A shorter EMA will respond more quickly to price movements, while a longer EMA is smoother and less sensitive to short-term fluctuations.
How it's used:
If the price is above the EMA, it indicates an uptrend.
If the price is below the EMA, it indicates a downtrend.
2. Supertrend Indicator:
The Supertrend indicator is a trend-following tool based on the Average True Range (ATR), which is a volatility measure. It helps to identify the direction of the trend by setting a dynamic support or resistance level.
Input Parameters:
supertrend_atr_period: The period used for calculating the ATR, set to 10 periods by default.
supertrend_multiplier1: Multiplier for the first Supertrend, set to 3.0.
supertrend_multiplier2: Multiplier for the second Supertrend, set to 2.0.
supertrend_multiplier3: Multiplier for the third Supertrend, set to 1.0.
Each Supertrend line has a different multiplier, which affects its sensitivity to price changes. The ATR period defines how many periods of price data are used to calculate the ATR.
How the Supertrend works:
If the Supertrend value is below the price, the trend is considered bullish (uptrend).
If the Supertrend value is above the price, the trend is considered bearish (downtrend).
The Supertrend will switch between up and down based on price movement and ATR, providing a dynamic trend-following signal.
3. Three Supertrend Lines:
In this strategy, three Supertrend lines are calculated with different multipliers and the same ATR period (10 periods). Each line is more or less sensitive to price changes, and they are plotted on the chart in different colors based on whether the trend is bullish (green) or bearish (red).
Supertrend 1: The most sensitive Supertrend with a multiplier of 3.0.
Supertrend 2: A moderately sensitive Supertrend with a multiplier of 2.0.
Supertrend 3: The least sensitive Supertrend with a multiplier of 1.0.
Each Supertrend line signals a bullish trend when its value is below the price and a bearish trend when its value is above the price.
4. Strategy Rules:
This strategy uses the three Supertrend lines combined with the EMA to generate trade signals.
Entry Conditions:
A long entry is triggered when all three Supertrend lines are in an uptrend (i.e., all three Supertrend lines are below the price), and the price is above the EMA. This suggests a strong bullish market condition.
A short entry is triggered when all three Supertrend lines are in a downtrend (i.e., all three Supertrend lines are above the price), and the price is below the EMA. This suggests a strong bearish market condition.
Exit Conditions:
A long exit occurs when the third Supertrend (the least sensitive one) switches to a downtrend (i.e., the price falls below it).
A short exit occurs when the third Supertrend switches to an uptrend (i.e., the price rises above it).
5. Visualization:
The strategy also plots the following on the chart:
The EMA is plotted as a blue line, which helps identify the overall trend.
The three Supertrend lines are plotted with different colors:
Supertrend 1: Green (for uptrend) and Red (for downtrend).
Supertrend 2: Green (for uptrend) and Red (for downtrend).
Supertrend 3: Green (for uptrend) and Red (for downtrend).
Summary of the Strategy:
The strategy combines three Supertrend indicators (with different multipliers) and an EMA to capture both short-term and long-term trends.
Long positions are entered when all three Supertrend lines are bullish and the price is above the EMA.
Short positions are entered when all three Supertrend lines are bearish and the price is below the EMA.
Exits occur when the third Supertrend line (the least sensitive) signals a change in trend direction.
This combination of indicators allows for a robust trend-following strategy that adapts to both short-term volatility and long-term trend direction. The Supertrend lines provide quick reaction to price changes, while the EMA offers a smoother, more stable trend direction for confirmation.
The indicator described in your Pine Script is a Supertrend EMA Strategy that combines the Supertrend and EMA (Exponential Moving Average) to create a trend-following strategy. Here’s a detailed breakdown of how this indicator works:
1. EMA (Exponential Moving Average):
The EMA is a moving average that places more weight on recent prices, making it more responsive to price changes compared to a simple moving average (SMA). In this strategy, the EMA is used to determine the overall trend direction.
Input Parameter:
ema_length: This is the period for the EMA, set to 50 periods by default. A shorter EMA will respond more quickly to price movements, while a longer EMA is smoother and less sensitive to short-term fluctuations.
How it's used:
If the price is above the EMA, it indicates an uptrend.
If the price is below the EMA, it indicates a downtrend.
2. Supertrend Indicator:
The Supertrend indicator is a trend-following tool based on the Average True Range (ATR), which is a volatility measure. It helps to identify the direction of the trend by setting a dynamic support or resistance level.
Input Parameters:
supertrend_atr_period: The period used for calculating the ATR, set to 10 periods by default.
supertrend_multiplier1: Multiplier for the first Supertrend, set to 3.0.
supertrend_multiplier2: Multiplier for the second Supertrend, set to 2.0.
supertrend_multiplier3: Multiplier for the third Supertrend, set to 1.0.
Each Supertrend line has a different multiplier, which affects its sensitivity to price changes. The ATR period defines how many periods of price data are used to calculate the ATR.
How the Supertrend works:
If the Supertrend value is below the price, the trend is considered bullish (uptrend).
If the Supertrend value is above the price, the trend is considered bearish (downtrend).
The Supertrend will switch between up and down based on price movement and ATR, providing a dynamic trend-following signal.
3. Three Supertrend Lines:
In this strategy, three Supertrend lines are calculated with different multipliers and the same ATR period (10 periods). Each line is more or less sensitive to price changes, and they are plotted on the chart in different colors based on whether the trend is bullish (green) or bearish (red).
Supertrend 1: The most sensitive Supertrend with a multiplier of 3.0.
Supertrend 2: A moderately sensitive Supertrend with a multiplier of 2.0.
Supertrend 3: The least sensitive Supertrend with a multiplier of 1.0.
Each Supertrend line signals a bullish trend when its value is below the price and a bearish trend when its value is above the price.
4. Strategy Rules:
This strategy uses the three Supertrend lines combined with the EMA to generate trade signals.
Entry Conditions:
A long entry is triggered when all three Supertrend lines are in an uptrend (i.e., all three Supertrend lines are below the price), and the price is above the EMA. This suggests a strong bullish market condition.
A short entry is triggered when all three Supertrend lines are in a downtrend (i.e., all three Supertrend lines are above the price), and the price is below the EMA. This suggests a strong bearish market condition.
Exit Conditions:
A long exit occurs when the third Supertrend (the least sensitive one) switches to a downtrend (i.e., the price falls below it).
A short exit occurs when the third Supertrend switches to an uptrend (i.e., the price rises above it).
5. Visualization:
The strategy also plots the following on the chart:
The EMA is plotted as a blue line, which helps identify the overall trend.
The three Supertrend lines are plotted with different colors:
Supertrend 1: Green (for uptrend) and Red (for downtrend).
Supertrend 2: Green (for uptrend) and Red (for downtrend).
Supertrend 3: Green (for uptrend) and Red (for downtrend).
Summary of the Strategy:
The strategy combines three Supertrend indicators (with different multipliers) and an EMA to capture both short-term and long-term trends.
Long positions are entered when all three Supertrend lines are bullish and the price is above the EMA.
Short positions are entered when all three Supertrend lines are bearish and the price is below the EMA.
Exits occur when the third Supertrend line (the least sensitive) signals a change in trend direction.
This combination of indicators allows for a robust trend-following strategy that adapts to both short-term volatility and long-term trend direction. The Supertrend lines provide quick reaction to price changes, while the EMA offers a smoother, more stable trend direction for confirmation.
The indicator described in your Pine Script is a Supertrend EMA Strategy that combines the Supertrend and EMA (Exponential Moving Average) to create a trend-following strategy. Here’s a detailed breakdown of how this indicator works:
1. EMA (Exponential Moving Average):
The EMA is a moving average that places more weight on recent prices, making it more responsive to price changes compared to a simple moving average (SMA). In this strategy, the EMA is used to determine the overall trend direction.
Input Parameter:
ema_length: This is the period for the EMA, set to 50 periods by default. A shorter EMA will respond more quickly to price movements, while a longer EMA is smoother and less sensitive to short-term fluctuations.
How it's used:
If the price is above the EMA, it indicates an uptrend.
If the price is below the EMA, it indicates a downtrend.
2. Supertrend Indicator:
The Supertrend indicator is a trend-following tool based on the Average True Range (ATR), which is a volatility measure. It helps to identify the direction of the trend by setting a dynamic support or resistance level.
Input Parameters:
supertrend_atr_period: The period used for calculating the ATR, set to 10 periods by default.
supertrend_multiplier1: Multiplier for the first Supertrend, set to 3.0.
supertrend_multiplier2: Multiplier for the second Supertrend, set to 2.0.
supertrend_multiplier3: Multiplier for the third Supertrend, set to 1.0.
Each Supertrend line has a different multiplier, which affects its sensitivity to price changes. The ATR period defines how many periods of price data are used to calculate the ATR.
How the Supertrend works:
If the Supertrend value is below the price, the trend is considered bullish (uptrend).
If the Supertrend value is above the price, the trend is considered bearish (downtrend).
The Supertrend will switch between up and down based on price movement and ATR, providing a dynamic trend-following signal.
3. Three Supertrend Lines:
In this strategy, three Supertrend lines are calculated with different multipliers and the same ATR period (10 periods). Each line is more or less sensitive to price changes, and they are plotted on the chart in different colors based on whether the trend is bullish (green) or bearish (red).
Supertrend 1: The most sensitive Supertrend with a multiplier of 3.0.
Supertrend 2: A moderately sensitive Supertrend with a multiplier of 2.0.
Supertrend 3: The least sensitive Supertrend with a multiplier of 1.0.
Each Supertrend line signals a bullish trend when its value is below the price and a bearish trend when its value is above the price.
4. Strategy Rules:
This strategy uses the three Supertrend lines combined with the EMA to generate trade signals.
Entry Conditions:
A long entry is triggered when all three Supertrend lines are in an uptrend (i.e., all three Supertrend lines are below the price), and the price is above the EMA. This suggests a strong bullish market condition.
A short entry is triggered when all three Supertrend lines are in a downtrend (i.e., all three Supertrend lines are above the price), and the price is below the EMA. This suggests a strong bearish market condition.
Exit Conditions:
A long exit occurs when the third Supertrend (the least sensitive one) switches to a downtrend (i.e., the price falls below it).
A short exit occurs when the third Supertrend switches to an uptrend (i.e., the price rises above it).
5. Visualization:
The strategy also plots the following on the chart:
The EMA is plotted as a blue line, which helps identify the overall trend.
The three Supertrend lines are plotted with different colors:
Supertrend 1: Green (for uptrend) and Red (for downtrend).
Supertrend 2: Green (for uptrend) and Red (for downtrend).
Supertrend 3: Green (for uptrend) and Red (for downtrend).
Summary of the Strategy:
The strategy combines three Supertrend indicators (with different multipliers) and an EMA to capture both short-term and long-term trends.
Long positions are entered when all three Supertrend lines are bullish and the price is above the EMA.
Short positions are entered when all three Supertrend lines are bearish and the price is below the EMA.
Exits occur when the third Supertrend line (the least sensitive) signals a change in trend direction.
This combination of indicators allows for a robust trend-following strategy that adapts to both short-term volatility and long-term trend direction. The Supertrend lines provide quick reaction to price changes, while the EMA offers a smoother, more stable trend direction for confirmation.
Milvetti_Pineconnector_LibraryLibrary "Milvetti_Pineconnector_Library"
This library has methods that provide practical signal transmission for Pineconnector.Developed By Milvetti
buy(licenseId, symbol, risk, sl, tp, beTrigger, beOffset, trailTrig, trailDist, trailStep, atrTimeframe, atrTrigger, atrPeriod, atrMultiplier, atrShift, spread, accFilter, secret, comment)
Create a buy order message
Parameters:
licenseId (string) : License Id. This is a unique identifier found in the Pineconnector Licensing Dashboard.
symbol (string) : Symbol. Default is syminfo.ticker
risk (float) : Risk. Function depends on the “Volume Type” selected in the EA
sl (float) : StopLoss. Place stop-loss. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
tp (float) : TakeProfit. Place take-profit. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
beTrigger (float) : Breakeven will be activated after the position gains this number of pips. Ensure > 0
beOffset (float) : Offset from entry price. 0 means the SL will be placed exactly at entry price. 1 means 1 pip above the entry price for buy trades and 1 pip below for sell trades.
trailTrig (int) : Trailing stop-loss will be activated after a trade gains this number of pips. Default is 0(inactive)
trailDist (int) : SL will be opened at traildist after trailtrig is met, even if you do not have a SL placed.. Default is 0(inactive)
trailStep (int) : Moves trailing stop-loss once price moves to favourable by a specified number of pips. Default is 0(inactive)
atrTimeframe (string) : ATR Trailing Stop will be based on the specified timeframe in minutes and will only update once per bar close. Default is Timeframe.Period
atrTrigger (float) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default is 0(inactive)
atrPeriod (int) : ATR averaging period. Default is 0
atrMultiplier (float) : Multiple of ATR to utilise in the new SL computation. Default is 1
atrShift (float) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default is 0
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips. Default is 0(inactive)
accFilter (float) : Enter the position only if the account requirement is met. Default is 0(inactive)
secret (string)
comment (string) : Comment. Add a string into the order’s comment section. Default is "Symbol+Timeframe"
sell(licenseId, symbol, risk, sl, tp, beTrigger, beOffset, trailTrig, trailDist, trailStep, atrTimeframe, atrTrigger, atrPeriod, atrMultiplier, atrShift, spread, accFilter, secret, comment)
Create a buy order message
Parameters:
licenseId (string) : License Id. This is a unique identifier found in the Pineconnector Licensing Dashboard.
symbol (string) : Symbol. Default is syminfo.ticker
risk (float) : Risk. Function depends on the “Volume Type” selected in the EA
sl (float) : StopLoss. Place stop-loss. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
tp (float) : TakeProfit. Place take-profit. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
beTrigger (float) : Breakeven will be activated after the position gains this number of pips. Ensure > 0
beOffset (float) : Offset from entry price. 0 means the SL will be placed exactly at entry price. 1 means 1 pip above the entry price for buy trades and 1 pip below for sell trades.
trailTrig (int) : Trailing stop-loss will be activated after a trade gains this number of pips. Default is 0(inactive)
trailDist (int) : SL will be opened at traildist after trailtrig is met, even if you do not have a SL placed.. Default is 0(inactive)
trailStep (int) : Moves trailing stop-loss once price moves to favourable by a specified number of pips. Default is 0(inactive)
atrTimeframe (string) : ATR Trailing Stop will be based on the specified timeframe in minutes and will only update once per bar close. Default is Timeframe.Period
atrTrigger (float) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default is 0(inactive)
atrPeriod (int) : ATR averaging period. Default is 0
atrMultiplier (float) : Multiple of ATR to utilise in the new SL computation. Default is 1
atrShift (float) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default is 0
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips. Default is 0(inactive)
accFilter (float) : Enter the position only if the account requirement is met. Default is 0(inactive)
secret (string)
comment (string) : Comment. Add a string into the order’s comment section. Default is "Symbol+Timeframe"
buyLimit(licenseId, symbol, pending, risk, sl, tp, beTrigger, beOffset, trailTrig, trailDist, trailStep, atrTimeframe, atrTrigger, atrPeriod, atrMultiplier, atrShift, spread, accFilter, secret, comment)
Create a buy limit order message
Parameters:
licenseId (string) : License Id. This is a unique identifier found in the Pineconnector Licensing Dashboard.
symbol (string) : Symbol. Default is syminfo.ticker
pending (float) : Computing pending order entry price. EA Options: Pips, Specified Price, Percentage
risk (float) : Risk. Function depends on the “Volume Type” selected in the EA
sl (float) : StopLoss. Place stop-loss. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
tp (float) : TakeProfit. Place take-profit. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
beTrigger (float) : Breakeven will be activated after the position gains this number of pips. Ensure > 0
beOffset (float) : Offset from entry price. 0 means the SL will be placed exactly at entry price. 1 means 1 pip above the entry price for buy trades and 1 pip below for sell trades.
trailTrig (int) : Trailing stop-loss will be activated after a trade gains this number of pips. Default is 0(inactive)
trailDist (int) : SL will be opened at traildist after trailtrig is met, even if you do not have a SL placed.. Default is 0(inactive)
trailStep (int) : Moves trailing stop-loss once price moves to favourable by a specified number of pips. Default is 0(inactive)
atrTimeframe (string) : ATR Trailing Stop will be based on the specified timeframe in minutes and will only update once per bar close. Default is Timeframe.Period
atrTrigger (float) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default is 0(inactive)
atrPeriod (int) : ATR averaging period. Default is 0
atrMultiplier (float) : Multiple of ATR to utilise in the new SL computation. Default is 1
atrShift (float) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default is 0
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips. Default is 0(inactive)
accFilter (float) : Enter the position only if the account requirement is met. Default is 0(inactive)
secret (string)
comment (string) : Comment. Add a string into the order’s comment section. Default is "Symbol+Timeframe"
buyStop(licenseId, symbol, pending, risk, sl, tp, beTrigger, beOffset, trailTrig, trailDist, trailStep, atrTimeframe, atrTrigger, atrPeriod, atrMultiplier, atrShift, spread, accFilter, secret, comment)
Create a buy stop order message
Parameters:
licenseId (string) : License Id. This is a unique identifier found in the Pineconnector Licensing Dashboard.
symbol (string) : Symbol. Default is syminfo.ticker
pending (float) : Computing pending order entry price. EA Options: Pips, Specified Price, Percentage
risk (float) : Risk. Function depends on the “Volume Type” selected in the EA
sl (float) : StopLoss. Place stop-loss. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
tp (float) : TakeProfit. Place take-profit. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
beTrigger (float) : Breakeven will be activated after the position gains this number of pips. Ensure > 0
beOffset (float) : Offset from entry price. 0 means the SL will be placed exactly at entry price. 1 means 1 pip above the entry price for buy trades and 1 pip below for sell trades.
trailTrig (int) : Trailing stop-loss will be activated after a trade gains this number of pips. Default is 0(inactive)
trailDist (int) : SL will be opened at traildist after trailtrig is met, even if you do not have a SL placed.. Default is 0(inactive)
trailStep (int) : Moves trailing stop-loss once price moves to favourable by a specified number of pips. Default is 0(inactive)
atrTimeframe (string) : ATR Trailing Stop will be based on the specified timeframe in minutes and will only update once per bar close. Default is Timeframe.Period
atrTrigger (float) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default is 0(inactive)
atrPeriod (int) : ATR averaging period. Default is 0
atrMultiplier (float) : Multiple of ATR to utilise in the new SL computation. Default is 1
atrShift (float) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default is 0
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips. Default is 0(inactive)
accFilter (float) : Enter the position only if the account requirement is met. Default is 0(inactive)
secret (string)
comment (string) : Comment. Add a string into the order’s comment section. Default is "Symbol+Timeframe"
sellLimit(licenseId, symbol, pending, risk, sl, tp, beTrigger, beOffset, trailTrig, trailDist, trailStep, atrTimeframe, atrTrigger, atrPeriod, atrMultiplier, atrShift, spread, accFilter, secret, comment)
Create a sell limit order message
Parameters:
licenseId (string) : License Id. This is a unique identifier found in the Pineconnector Licensing Dashboard.
symbol (string) : Symbol. Default is syminfo.ticker
pending (float) : Computing pending order entry price. EA Options: Pips, Specified Price, Percentage
risk (float) : Risk. Function depends on the “Volume Type” selected in the EA
sl (float) : StopLoss. Place stop-loss. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
tp (float) : TakeProfit. Place take-profit. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
beTrigger (float) : Breakeven will be activated after the position gains this number of pips. Ensure > 0
beOffset (float) : Offset from entry price. 0 means the SL will be placed exactly at entry price. 1 means 1 pip above the entry price for buy trades and 1 pip below for sell trades.
trailTrig (int) : Trailing stop-loss will be activated after a trade gains this number of pips. Default is 0(inactive)
trailDist (int) : SL will be opened at traildist after trailtrig is met, even if you do not have a SL placed.. Default is 0(inactive)
trailStep (int) : Moves trailing stop-loss once price moves to favourable by a specified number of pips. Default is 0(inactive)
atrTimeframe (string) : ATR Trailing Stop will be based on the specified timeframe in minutes and will only update once per bar close. Default is Timeframe.Period
atrTrigger (float) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default is 0(inactive)
atrPeriod (int) : ATR averaging period. Default is 0
atrMultiplier (float) : Multiple of ATR to utilise in the new SL computation. Default is 1
atrShift (float) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default is 0
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips. Default is 0(inactive)
accFilter (float) : Enter the position only if the account requirement is met. Default is 0(inactive)
secret (string)
comment (string) : Comment. Add a string into the order’s comment section. Default is "Symbol+Timeframe"
sellStop(licenseId, symbol, pending, risk, sl, tp, beTrigger, beOffset, trailTrig, trailDist, trailStep, atrTimeframe, atrTrigger, atrPeriod, atrMultiplier, atrShift, spread, accFilter, secret, comment)
Create a sell stop order message
Parameters:
licenseId (string) : License Id. This is a unique identifier found in the Pineconnector Licensing Dashboard.
symbol (string) : Symbol. Default is syminfo.ticker
pending (float) : Computing pending order entry price. EA Options: Pips, Specified Price, Percentage
risk (float) : Risk. Function depends on the “Volume Type” selected in the EA
sl (float) : StopLoss. Place stop-loss. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
tp (float) : TakeProfit. Place take-profit. Computation is based on the Target Type selected in the EA. Default is 0(inactive)
beTrigger (float) : Breakeven will be activated after the position gains this number of pips. Ensure > 0
beOffset (float) : Offset from entry price. 0 means the SL will be placed exactly at entry price. 1 means 1 pip above the entry price for buy trades and 1 pip below for sell trades.
trailTrig (int) : Trailing stop-loss will be activated after a trade gains this number of pips. Default is 0(inactive)
trailDist (int) : SL will be opened at traildist after trailtrig is met, even if you do not have a SL placed.. Default is 0(inactive)
trailStep (int) : Moves trailing stop-loss once price moves to favourable by a specified number of pips. Default is 0(inactive)
atrTimeframe (string) : ATR Trailing Stop will be based on the specified timeframe in minutes and will only update once per bar close. Default is Timeframe.Period
atrTrigger (float) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default is 0(inactive)
atrPeriod (int) : ATR averaging period. Default is 0
atrMultiplier (float) : Multiple of ATR to utilise in the new SL computation. Default is 1
atrShift (float) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default is 0
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips. Default is 0(inactive)
accFilter (float) : Enter the position only if the account requirement is met. Default is 0(inactive)
secret (string)
comment (string) : Comment. Add a string into the order’s comment section. Default is "Symbol+Timeframe"
Volume-MACD-RSI Integrated StrategyDescription:
This script integrates three well-known technical analysis tools—Volume, MACD, and RSI—into a single signal meant to help traders identify potential turning points under strong market conditions.
Concept Overview:
Volume Filter: We compare the current bar’s volume to a 20-period volume average and require it to exceed a specified multiplier. This ensures that signals occur only during periods of heightened market participation. The logic is that moves on low volume are less reliable, so we wait for increased activity to confirm potential trend changes.
MACD Momentum Shift:
We incorporate MACD crossovers to determine when momentum is changing direction. MACD is a popular momentum indicator that identifies shifts in trend by comparing short-term and long-term EMAs. A bullish crossover (MACD line crossing above the signal line) may suggest upward momentum is building, while a bearish crossunder can indicate momentum turning downward.
RSI Market Condition Check:
RSI helps us identify overbought or oversold conditions. By requiring that RSI be oversold on buy signals and overbought on sell signals, we attempt to pinpoint entries where price could be at an extreme. The idea is to position entries or exits at junctures where price may be due for a reversal.
How the Script Works Together:
Volume Confirmation: No signals fire unless there’s strong volume. This reduces false positives.
MACD Momentum Check: Once volume confirms market interest, MACD crossover events serve as a trigger to initiate consideration of a trade signal.
RSI Condition: Finally, RSI determines whether the market is at an extreme. This final layer helps ensure we only act on signals that have both momentum shift and a price at an extreme level, potentially increasing the reliability of signals.
Intended Use:
This script can help highlight potential reversal points or trend shifts during active market periods.
Traders can use these signals as a starting point for deeper analysis. For instance, a “BUY” arrow may prompt a trader to investigate the market context, confirm with other methods, or look for patterns that further support a long entry.
The script is best used on markets with reliable volume data, such as stocks or futures, and can be experimented with across different timeframes. Adjusting the RSI thresholds, MACD parameters, and volume multiplier can help tailor it to specific instruments or trading styles.
Chart Setup:
When adding this script to your chart, it should be the only indicator present, so you can clearly see the red “BUY” arrows and green “SELL” arrows at the candle closes where signals occur.
The chart should be kept clean and uncluttered for clarity. No other indicators are necessary since the logic is already integrated into this single script.
ToolsPosLibrary "ToolsPos"
Library for general purpose position helpers
new_pos(state, price, when, index)
Returns new PosInfo object
Parameters:
state (series PosState) : Position state
price (float) : float Entry price
when (int) : int Entry bar time UNIX. Default: time
index (int) : int Entry bar index. Default: bar_index
Returns: PosInfo
new_tp(pos, price, when, index, info)
Returns PosInfo object with new take profit info object
Parameters:
pos (PosInfo) : PosInfo object
price (float) : float Entry price
when (int) : int Entry bar time UNIX. Default: time
index (int) : int Entry bar index. Default: bar_index
info (Info type from aybarsm/Tools/14) : Info holder object. Default: na
Returns: PosInfo
new_re(pos, price, when, index, info)
Returns PosInfo object with new re-entry info object
Parameters:
pos (PosInfo) : PosInfo object
price (float) : float Entry price
when (int) : int Entry bar time UNIX. Default: time
index (int) : int Entry bar index. Default: bar_index
info (Info type from aybarsm/Tools/14) : Info holder object. Default: na
Returns: PosInfo
PosTPInfo
PosTPInfo - Position Take Profit info object
Fields:
price (series float) : float Take profit price
when (series int) : int Take profit bar time UNIX. Default: time
index (series int) : int Take profit bar index. Default: bar_index
info (Info type from aybarsm/Tools/14) : Info holder object
PosREInfo
PosREInfo - Position Re-Entry info object
Fields:
price (series float) : float Re-entry price
when (series int) : int Re-entry bar time UNIX. Default: time
index (series int) : int Take profit bar index. Default: bar_index
info (Info type from aybarsm/Tools/14) : Info holder object
PosInfo
PosInfo - Position info object
Fields:
state (series PosState) : Position state
price (series float) : float Entry price
when (series int) : int Entry bar time UNIX. Default: time
index (series int) : int Entry bar index. Default: bar_index
tp (array) : PosTPInfo Take profit info. Default: na
re (array) : PosREInfo Re-entry info. Default: na
info (Info type from aybarsm/Tools/14) : Info holder object
3 EMA + RSI with Trail Stop [Free990] (LOW TF)This trading strategy combines three Exponential Moving Averages (EMAs) to identify trend direction, uses RSI to signal exit conditions, and applies both a fixed percentage stop-loss and a trailing stop for risk management. It aims to capture momentum when the faster EMAs cross the slower EMA, then uses RSI thresholds, time-based exits, and stops to close trades.
Short Explanation of the Logic
Trend Detection: When the 10 EMA crosses above the 20 EMA and both are above the 100 EMA (and the current price bar closes higher), it triggers a long entry signal. The reverse happens for a short (the 10 EMA crosses below the 20 EMA and both are below the 100 EMA).
RSI Exit: RSI crossing above a set threshold closes long trades; crossing below another threshold closes short trades.
Time-Based Exit: If a trade is in profit after a set number of bars, the strategy closes it.
Stop-Loss & Trailing Stop: A fixed stop-loss based on a percentage from the entry price guards against large drawdowns. A trailing stop dynamically tightens as the trade moves in favor, locking in potential gains.
Detailed Explanation of the Strategy Logic
Exponential Moving Average (EMA) Setup
Short EMA (out_a, length=10)
Medium EMA (out_b, length=20)
Long EMA (out_c, length=100)
The code calculates three separate EMAs to gauge short-term, medium-term, and longer-term trend behavior. By comparing their relative positions, the strategy infers whether the market is bullish (EMAs stacked positively) or bearish (EMAs stacked negatively).
Entry Conditions
Long Entry (entryLong): Occurs when:
The short EMA (10) crosses above the medium EMA (20).
Both EMAs (short and medium) are above the long EMA (100).
The current bar closes higher than it opened (close > open).
This suggests that momentum is shifting to the upside (short-term EMAs crossing up and price action turning bullish). If there’s an existing short position, it’s closed first before opening a new long.
Short Entry (entryShort): Occurs when:
The short EMA (10) crosses below the medium EMA (20).
Both EMAs (short and medium) are below the long EMA (100).
The current bar closes lower than it opened (close < open).
This indicates a potential shift to the downside. If there’s an existing long position, that gets closed first before opening a new short.
Exit Signals
RSI-Based Exits:
For long trades: When RSI exceeds a specified threshold (e.g., 70 by default), it triggers a long exit. RSI > short_rsi generally means overbought conditions, so the strategy exits to lock in profits or avoid a pullback.
For short trades: When RSI dips below a specified threshold (e.g., 30 by default), it triggers a short exit. RSI < long_rsi indicates oversold conditions, so the strategy closes the short to avoid a bounce.
Time-Based Exit:
If the trade has been open for xBars bars (configurable, e.g., 24 bars) and the trade is in profit (current price above entry for a long, or current price below entry for a short), the strategy closes the position. This helps lock in gains if the move takes too long or momentum stalls.
Stop-Loss Management
Fixed Stop-Loss (% Based): Each trade has a fixed stop-loss calculated as a percentage from the average entry price.
For long positions, the stop-loss is set below the entry price by a user-defined percentage (fixStopLossPerc).
For short positions, the stop-loss is set above the entry price by the same percentage.
This mechanism prevents catastrophic losses if the market moves strongly against the position.
Trailing Stop:
The strategy also sets a trail stop using trail_points (the distance in price points) and trail_offset (how quickly the stop “catches up” to price).
As the market moves in favor of the trade, the trailing stop gradually tightens, allowing profits to run while still capping potential drawdowns if the price reverses.
Order Execution Flow
When the conditions for a new position (long or short) are triggered, the strategy first checks if there’s an opposite position open. If there is, it closes that position before opening the new one (prevents going “both long and short” simultaneously).
RSI-based and time-based exits are checked on each bar. If triggered, the position is closed.
If the position remains open, the fixed stop-loss and trailing stop remain in effect until the position is exited.
Why This Combination Works
Multiple EMA Cross: Combining 10, 20, and 100 EMAs balances short-term momentum detection with a longer-term trend filter. This reduces false signals that can occur if you only look at a single crossover without considering the broader trend.
RSI Exits: RSI provides a momentum oscillator view—helpful for detecting overbought/oversold conditions, acting as an extra confirmation to exit.
Time-Based Exit: Prevents “lingering trades.” If the position is in profit but failing to advance further, it takes profit rather than risking a trend reversal.
Fixed & Trailing Stop-Loss: The fixed stop-loss is your safety net to cap worst-case losses. The trailing stop allows the strategy to lock in gains by following the trade as it moves favorably, thus maximizing profit potential while keeping risk in check.
Overall, this approach tries to capture momentum from EMA crossovers, protect profits with trailing stops, and limit risk through both a fixed percentage stop-loss and exit signals from RSI/time-based logic.
DCA Strategy with Mean Reversion and Bollinger BandDCA Strategy with Mean Reversion and Bollinger Band
The Dollar-Cost Averaging (DCA) Strategy with Mean Reversion and Bollinger Bands is a sophisticated trading strategy that combines the principles of DCA, mean reversion, and technical analysis using Bollinger Bands. This strategy aims to capitalize on market corrections by systematically entering positions during periods of price pullbacks and reversion to the mean.
Key Concepts and Principles
1. Dollar-Cost Averaging (DCA)
DCA is an investment strategy that involves regularly purchasing a fixed dollar amount of an asset, regardless of its price. The idea behind DCA is that by spreading out investments over time, the impact of market volatility is reduced, and investors can avoid making large investments at inopportune times. The strategy reduces the risk of buying all at once during a market high and can smooth out the cost of purchasing assets over time.
In the context of this strategy, the Investment Amount (USD) is set by the user and represents the amount of capital to be invested in each buy order. The strategy executes buy orders whenever the price crosses below the lower Bollinger Band, which suggests a potential market correction or pullback. This is an effective way to average the entry price and avoid the emotional pitfalls of trying to time the market perfectly.
2. Mean Reversion
Mean reversion is a concept that suggests prices will tend to return to their historical average or mean over time. In this strategy, mean reversion is implemented using the Bollinger Bands, which are based on a moving average and standard deviation. The lower band is considered a potential buy signal when the price crosses below it, indicating that the asset has become oversold or underpriced relative to its historical average. This triggers the DCA buy order.
Mean reversion strategies are popular because they exploit the natural tendency of prices to revert to their mean after experiencing extreme deviations, such as during market corrections or panic selling.
3. Bollinger Bands
Bollinger Bands are a technical analysis tool that consists of three lines:
Middle Band: The moving average, usually a 200-period Exponential Moving Average (EMA) in this strategy. This serves as the "mean" or baseline.
Upper Band: The middle band plus a certain number of standard deviations (multiplier). The upper band is used to identify overbought conditions.
Lower Band: The middle band minus a certain number of standard deviations (multiplier). The lower band is used to identify oversold conditions.
In this strategy, the Bollinger Bands are used to identify potential entry points for DCA trades. When the price crosses below the lower band, this is seen as a potential opportunity for mean reversion, suggesting that the asset may be oversold and could reverse back toward the middle band (the EMA). Conversely, when the price crosses above the upper band, it indicates overbought conditions and signals potential market exhaustion.
4. Time-Based Entry and Exit
The strategy has specific entry and exit points defined by time parameters:
Open Date: The date when the strategy begins opening positions.
Close Date: The date when all positions are closed.
This time-bound approach ensures that the strategy is active only during a specified window, which can be useful for testing specific market conditions or focusing on a particular time frame.
5. Position Sizing
Position sizing is determined by the Investment Amount (USD), which is the fixed amount to be invested in each buy order. The quantity of the asset to be purchased is calculated by dividing the investment amount by the current price of the asset (investment_amount / close). This ensures that the amount invested remains constant despite fluctuations in the asset's price.
6. Closing All Positions
The strategy includes an exit rule that closes all positions once the specified close date is reached. This allows for controlled exits and limits the exposure to market fluctuations beyond the strategy's timeframe.
7. Background Color Based on Price Relative to Bollinger Bands
The script uses the background color of the chart to provide visual feedback about the price's relationship with the Bollinger Bands:
Red background indicates the price is above the upper band, signaling overbought conditions.
Green background indicates the price is below the lower band, signaling oversold conditions.
This provides an easy-to-interpret visual cue for traders to assess the current market environment.
Postscript: Configuring Initial Capital for Backtesting
To ensure the backtest results align with the actual investment scenario, users must adjust the Initial Capital in the TradingView strategy properties. This is done by calculating the Initial Capital as the product of the Total Closed Trades and the Investment Amount (USD). For instance:
If the user is investing 100 USD per trade and has 10 closed trades, the Initial Capital should be set to 1,000 USD.
Similarly, if the user is investing 200 USD per trade and has 24 closed trades, the Initial Capital should be set to 4,800 USD.
This adjustment ensures that the backtesting results reflect the actual capital deployed in the strategy and provides an accurate representation of potential gains and losses.
Conclusion
The DCA strategy with Mean Reversion and Bollinger Bands is a systematic approach to investing that leverages the power of regular investments and technical analysis to reduce market timing risks. By combining DCA with the insights offered by Bollinger Bands and mean reversion, this strategy offers a structured way to navigate volatile markets while targeting favorable entry points. The clear entry and exit rules, coupled with time-based constraints, make it a robust and disciplined approach to long-term investing.
Weis Wave Max█ Overview
Weis Wave Max is the result of my weis wave study.
David Weis said,
"Trading with the Weis Wave involves changes in behavior associated with springs, upthrusts, tests of breakouts/breakdowns, and effort vs reward. The most common setup is the low-volume pullback after a bullish/bearish change in behavior."
THE STOCK MARKET UPDATE (February 24, 2013)
I inspired from his sentences and made this script.
Its Main feature is to identify the largest wave in Weis wave and advantageous trading opportunities.
█ Features
This indicator includes several features related to the Weis Wave Method.
They help you analyze which is more bullish or bearish.
Highlight Max Wave Value (single direction)
Highlight Abnormal Max Wave Value (both directions)
Support and Resistance zone
Signals and Setups
█ Usage
Weis wave indicator displays cumulative volume for each wave.
Wave volume is effective when analyzing volume from VSA (Volume Spread Analysis) perspective.
The basic idea of Weis wave is large wave volume hint trend direction. This helps identify proper entry point.
This indicator highlights max wave volume and displays the signal and then proper Risk Reward Ratio entry frame.
I defined Change in Behavior as max wave volume (single direction).
Pullback is next wave that does not exceed the starting point of CiB wave (LH sell entry, HL buy entry).
Change in Behavior Signal ○ appears when pullback is determined.
Change in Behavior Setup (Entry frame) appears when condition of Min/Max Pullback is met and follow through wave breaks end point of CiB wave.
This indicator has many other features and they can also help a user identify potential levels of trade entry and which is more bullish or bearish.
In the screenshot below we can see wave volume zones as support and resistance levels. SOT and large wave volume /delta price (yellow colored wave text frame) hint stopping action.
█ Settings
Explains the main settings.
-- General --
Wave size : Allows the User to select wave size from ① Fixed or ② ATR. ② ATR is Factor x ATR(Length).
Display : Allows the User to select how many wave text and zigzag appear.
-- Wave Type --
Wave type : Allows the User to select from Volume or Volume and Time.
Wave Volume / delta price : Displays Wave Volume / delta price.
Simplified value : Allows the User to select wave text display style from ① Divisor or ② Normalized. Normalized use SMA.
Decimal : Allows the User to select the decimal point in the Wave text.
-- Highlight Abnormal Wave --
Highlight Max Wave value (single direction) : Adds marks to the Wave text to highlight the max wave value.
Lookback : Allows the User to select how many waves search for the max wave value.
Highlight Abnormal Wave value (both directions) : Changes wave text size, color or frame color to highlight the abnormal wave value.
Lookback : Allows the User to select SMA length to decide average wave value.
Large/Small factor : Allows the User to select the threshold large wave value and small wave value. Average wave value is 1.
delta price : Highlights large delta price by large wave text size, small by small text size.
Wave Volume : Highlights large wave volume by yellow colored wave text, small by gray colored.
Wave Volume / delta price : highlights large Wave Volume / delta price by yellow colored wave text frame, small by gray colored.
-- Support and Resistance --
Single side Max Wave Volume / delta price : Draws dashed border box from end point of Max wave volume / delta price level.
Single side Max Wave Volume : Draws solid border box from start point of Max wave volume level.
Bias Wave Volume : Draws solid border box from start point of bias wave volume level.
-- Signals --
Bias (Wave Volume / delta price) : Displays Bias mark when large difference in wave volume / delta price before and after.
Ratio : Decides the threshold of become large difference.
3Decrease : Displays 3D mark when a continuous decrease in wave volume.
Shortening Of the Thrust : Displays SOT mark when a continuous decrease in delta price.
Change in Behavior and Pullback : Displays CiB mark when single side max wave volume and pullback.
-- Setups --
Change in Behavior and Pullback and Breakout : Displays entry frame when change in behavior and pullback and then breakout.
Min / Max Pullback : Decides the threshold of min / max pullback.
If you need more information, please read the indicator's tooltip.
█ Conclusion
Weis Wave is powerful interpretation of volume and its tell us potential trend change and entry point which can't find without weis wave.
It's not the holy grail, but improve your chart reading skills and help you trade rationally (at least from VSA perspective).
SMA Buy/Sell Strategy with Significant Slope and Dynamic TP/SLDescription:
This strategy uses a simple moving average (SMA) to detect trading opportunities based on the slope and proximity of price action. It ensures trades are only executed during significant trends, reducing false signals caused by sideways movements. The strategy incorporates dynamic risk management with an initial ambitious Take Profit (TP) and a Trailing Stop Loss (SL) to protect profits.
Key Features:
Trend Detection with SMA:
Two SMAs are calculated: one on High values and one on Low values.
Signals are generated when the price crosses these SMAs, ensuring:
Buy: Price closes above the SMA on High, with a significant upward slope.
Sell: Price closes below the SMA on Low, with a significant downward slope.
Slope Significance Check:
The slope of the SMA is calculated over a configurable period.
Only trends with a slope variation exceeding a user-defined percentage threshold are considered significant.
Dynamic Risk Management:
Ambitious Initial TP: Positions target a high percentage gain upon entry.
Trailing SL: Automatically adjusts as the price moves in favor of the trade, locking in profits.
Automatic Position Management:
Opposing signals close existing positions to avoid conflicting trades.
Configurable position size for risk control.
Parameters:
SMA Period: Number of candles for calculating the SMA.
Initial Take Profit (%): Percentage gain for the initial TP.
Trailing Stop Loss (%): Percentage for trailing SL based on the current price.
Slope Threshold (%): Minimum percentage change in SMA slope to confirm trend significance.
How It Works:
Buy Signal:
The price closes above the SMA on High values.
The slope of the SMA (on High) is positive and exceeds the slope threshold.
Sell Signal:
The price closes below the SMA on Low values.
The slope of the SMA (on Low) is negative and exceeds the slope threshold.
Exits:
A position closes at the Take Profit level, Trailing Stop Loss, or when an opposing signal is generated.
Use Case:
This strategy is ideal for trending markets where price action respects moving averages. It can be used on any timeframe or asset but is particularly effective in markets with clear directional movements.
Recommended Settings:
Timeframe: Works well on higher timeframes (e.g., 1H, 4H, Daily).
Slope Threshold (%): Default is 5%, adjust based on market volatility.
Initial TP and Trailing SL: Tailor to your risk/reward preferences.
By utilizing this strategy, traders can capitalize on significant market trends while dynamically managing risk. Test it on historical data to optimize the parameters for your preferred market!
Azlan MA Silang PLUS++Overview
Azlan MA Silang PLUS++ is an advanced moving average crossover trading indicator designed for traders who want to jump back into the market when they missed their first opportunity to take a trade. It implements a sophisticated dual moving average system with customizable settings and re-entry signals, making it suitable for both trend following and swing trading strategies.
Key Features
• Dual Moving Average System with multiple MA types (EMA, SMA, WMA, LWMA)
• Customizable price sources for each moving average
• Smart re-entry system with configurable maximum re-entries
• Visual signals with background coloring and shape markers
• Comprehensive alert system for both initial and re-entry signals
• Flexible parameter customization through input options
Input Parameters
Moving Average Configuration
• MA1 Type: Choice between SMA, EMA, WMA, LWMA (default: EMA)
• MA2 Type: Choice between SMA, EMA, WMA, LWMA (default: EMA)
• MA1 Length: Minimum value 1 (default: 8)
• MA2 Length: Minimum value 1 (default: 15)
• MA1 & MA2 Shift: Offset values for moving averages
• Price Sources: Configurable for each MA (Open, High, Low, Close, HL/2, HLC/3, HLCC/4)
Re-entry System
• Enable/Disable re-entry signals
• Maximum re-entries allowed (default: 3)
Technical Implementation
Price Source Calculation
The script implements a flexible price source system through the price_source() function:
• Supports standard OHLC values
• Includes compound calculations (HL/2, HLC/3, HLCC/4)
• Defaults to close price if invalid source specified
Moving Average Types
Implements four MA calculations:
1. SMA (Simple Moving Average)
2. EMA (Exponential Moving Average)
3. WMA (Weighted Moving Average)
4. LWMA (Linear Weighted Moving Average)
Signal Generation Logic
Initial Signals
• Buy Signal: MA1 crosses above MA2 with price above both MAs
• Sell Signal: MA1 crosses below MA2 with price below both MAs
Re-entry Signals
Re-entry system activates when:
1. Price crosses under MA1 in buy mode (or over in sell mode)
2. Price returns to cross back over MA1 (or under for sells)
3. Position relative to MA2 confirms trend direction
4. Number of re-entries hasn't exceeded maximum allowed
Visual Components
• MA1: Blue line (width: 2)
• MA2: Red line (width: 2)
• Background Colors:
o Green (60% opacity): Bullish conditions
o Red (60% opacity): Bearish conditions
• Signal Markers:
o Initial Buy/Sell: Up/Down arrows with "BUY"/"SELL" labels
o Re-entry Buy/Sell: Up/Down arrows with "RE-BUY"/"RE-SELL" labels
Alert System
Generates alerts for:
• Initial buy/sell signals
• Re-entry opportunities
• Alerts include ticker and timeframe information
• Configured for once-per-bar-close frequency
Usage Tips
1. Moving Average Selection
o Shorter periods (MA1) capture faster moves
o Longer periods (MA2) identify overall trend
o EMA responds faster to price changes than SMA
2. Re-entry System
o Best used in strong trending markets
o Limit maximum re-entries based on market volatility
o Monitor price action around MA1 for potential re-entry points
3. Risk Management
o Use additional confirmation indicators
o Set appropriate stop-loss levels
o Consider market conditions when using re-entry signals
Code Structure
The script follows a modular design with distinct sections:
1. Input parameter definitions
2. Helper functions for price and MA calculations
3. Main signal generation logic
4. Visual elements and plotting
5. Alert system implementation
This organization makes the code maintainable and easy to modify for custom needs.
