N Bar Reversal Detector [LuxAlgo]The N Bar Reversal Detector is designed to detect and highlight N-bar reversal patterns in user charts, where N represents the length of the candle sequence used to detect the patterns. The script incorporates various trend indicators to filter out detected signals and offers a range of customizable settings to fit different trading strategies.
🔶 USAGE
The N-bar reversal pattern extends the popular 3-bar reversal pattern. While the 3-bar reversal pattern involves identifying a sequence of three bars signaling a potential trend reversal, the N-bar reversal pattern builds on this concept by incorporating additional bars based on user settings. This provides a more comprehensive indication of potential trend reversals. The script automates the identification of these patterns and generates clear, visually distinct signals to highlight potential trend changes.
When a reversal chart pattern is confirmed and aligns with the price action, the pattern's boundaries are extended to create levels. The upper boundary serves as resistance, while the lower boundary acts as support.
The script allows users to filter patterns based on the trend direction identified by various trend indicators. Users can choose to view patterns that align with the detected trend or those that are contrary to it.
🔶 DETAILS
🔹 The N-bar Reversal Pattern
The N-bar reversal pattern is a technical analysis tool designed to signal potential trend reversals in the market. It consists of N consecutive bars, with the first N-1 bars used to identify the prevailing trend and the Nth bar confirming the reversal. Here’s a detailed look at the pattern:
Bullish Reversal : In a bullish reversal setup, the first bar is the highest among the first N-1 bars, indicating a prevailing downtrend. Most of the remaining bars in this sequence should be bearish (closing lower than where they opened), reinforcing the existing downward momentum. The Nth (most recent) bar confirms a bullish reversal if its high price is higher than the high of the first bar in the sequence (standard pattern). For a stronger signal, the closing price of the Nth bar should also be higher than the high of the first bar.
Bearish Reversal : In a bearish reversal setup, the first bar is the lowest among the first N-1 bars, indicating a prevailing uptrend. Most of the remaining bars in this sequence should be bullish (closing higher than where they opened), reinforcing the existing upward momentum. The Nth bar confirms a bearish reversal if its low price is lower than the low of the first bar in the sequence (standard pattern). For a stronger signal, the closing price of the Nth bar should also be lower than the low of the first bar.
🔹 Min Percentage of Required Candles
This parameter specifies the minimum percentage of candles that must be bullish (for a bearish reversal) or bearish (for a bullish reversal) among the first N-1 candles in a pattern. For higher values of N, it becomes more challenging for all of the first N-1 candles to be consistently bullish or bearish. By setting a percentage value, P, users can adjust the requirement so that only a minimum of P percent of the first N-1 candles need to meet the bullish or bearish condition. This allows for greater flexibility in pattern recognition, accommodating variations in market conditions.
🔶 SETTINGS
Pattern Type: Users can choose the type of the N-bar reversal patterns to detect: Normal, Enhanced, or All. "Normal" detects patterns that do not necessarily surpass the high/low of the first bar. "Enhanced" detects patterns where the last bar surpasses the high/low of the first bar. "All" detects both Normal and Enhanced patterns.
Reversal Pattern Sequence Length: Specifies the number of candles (N) in the sequence used to identify a reversal pattern.
Min Percentage of Required Candles: Sets the minimum percentage of the first N-1 candles that must be bullish (for a bearish reversal) or bearish (for a bullish reversal) to qualify as a valid reversal pattern.
Derived Support and Resistance: Toggles the visibility of the support and resistance levels/zones.
🔹 Trend Filtering
Filtering: Allows users to filter patterns based on the trend indicators: Moving Average Cloud, Supertrend, and Donchian Channels. The "Aligned" option only detects patterns that align with the trend and conversely, the "Opposite" option detects patterns that go against the trend.
🔹 Trend Indicator Settings
Moving Average Cloud: Allows traders to choose the type of moving averages (SMA, EMA, HMA, etc.) and set the lengths for fast and slow moving averages.
Supertrend: Options to set the ATR length and factor for Supertrend.
Donchian Channels: Option to set the length for the channel calculation.
🔶 RELATED SCRIPTS
Reversal-Candlestick-Structure.
Reversal-Signals.
Komut dosyalarını "high low" için ara
Realized Price Oscillator [InvestorUnknown]Overview
The Realized Price Oscillator is a fundamental analysis tool designed to assess Bitcoin's price dynamics relative to its realized price. The indicator calculates various metrics using data from the realized market capitalization and total supply. It applies normalization techniques to scale values within a specified range, helping investors identify overbought or oversold conditions over the long time horizon. The oscillator also features DCA-based signals to assist in strategic market entry and exit.
Key Features
1. Normalization and Scaling:
The indicator scales values using a limit that can be adjusted for decimal precision (Limit). It allows for both positive and negative values, providing flexibility in analysis.
Decay functionality is included to progressively reduce the extreme values over time, ensuring recent data impacts the oscillator more than older data.
f_rescale(float value, float min, float max, float limit, bool negatives) =>
((limit * (negatives ? 2 : 1)) * (value - min) / (max - min)) - (negatives ? limit : 0)
2. Realized Price Oscillator Calculation:
Realized Price Oscillator is computed using logarithmic differences between the open, high, low, and close prices and the realized price. This helps in identifying how the current market price compares with the average cost basis of the Bitcoin supply.
f_realized_price_oscillator(float realized_price) =>
rpo_o = math.log(open / realized_price)
rpo_h = math.log(high / realized_price)
rpo_l = math.log(low / realized_price)
rpo_c = math.log(close / realized_price)
3. Oscillator Normalization:
The normalized oscillator calculates the range between the maximum and minimum values over time. It adjusts the oscillator values based on these bounds, considering a decay factor. This normalized range assists in consistent signal generation.
normalized_oscillator(float x, float b) =>
float oscillator = b
var float min = na
var float max = na
if (oscillator > max or na(max)) and time >= normalization_start_date
max := oscillator
if (min > oscillator or na(min)) and time >= normalization_start_date
min := oscillator
if time >= normalization_start_date
max := max * decay
min := min * decay
normalized_oscillator = f_rescale(x, min, max, lim, neg)
4. Dollar-Cost Averaging (DCA) Signals:
DCA-based signals are generated using user-defined thresholds (DCA IN and DCA OUT). The oscillator triggers buy signals when the normalized low value falls below the DCA IN threshold and sell signals when the normalized high value exceeds the DCA OUT threshold.
5. Visual Representation:
The indicator plots candlestick representations of the normalized Realized Price Oscillator values (open, high, low, close) over time, starting from a specified date (plot_start_date).
Colors are dynamically adjusted using a gradient to represent the state of the oscillator, ranging from green (buy zone) to red (sell zone). Background and bar colors also change based on DCA conditions.
How It Works
Data Sourcing: Realized price data is sourced using Bitcoin’s realized market cap (BTC_MARKETCAPREAL) and total supply (BTC_SUPPLY).
Realized Price Oscillator Metrics: Logarithmic differences between price and realized price are computed to generate Realized Price Oscillator values for open, high, low, and close.
Normalization: The indicator rescales the oscillator values based on a defined limit, adjusting for negative values if allowed. It employs a decay factor to reduce the influence of historical extremes.
Conclusion
The Realized Price Oscillator is a sophisticated tool that combines market price analysis with realized price metrics to offer a robust framework for understanding Bitcoin's valuation. By leveraging normalization techniques and DCA thresholds, it provides actionable insights for long-term investing strategies.
Sylvain Zig-Zag [MyTradingCoder]This Pine Script version of ZigZagHighLow is a faithful port of Sylvain Vervoort's original study, initially implemented in NinjaScript and later added to the thinkorswim standard library. This indicator identifies and connects swing points in price data, offering a clear visualization of market moves that exceed a specified threshold. Additionally, it now includes features for detecting and plotting support and resistance levels, enhancing its utility for technical analysis.
Overview
The Sylvain Zig-Zag study excels at highlighting significant price swings by plotting points where the price change, combined with volatility adjustments via the Average True Range (ATR), exceeds a user-defined percentage. It effectively smooths out minor fluctuations, allowing traders to focus on the primary market trends. This tool is particularly useful in identifying potential turning points, trends in price movements, and key support and resistance levels, making it a valuable addition to your technical analysis arsenal.
How It Works
The Sylvain Zig-Zag indicator works by detecting swing points in the price data and connecting them to form a zigzag pattern. A swing point is identified when the price moves a certain distance, defined by a combination of percentage change and ATR. This distance must be exceeded for a swing point to be plotted.
When the price moves upwards and exceeds the previous high by a specified percentage plus a factor of the ATR, a new high swing point is plotted. Conversely, a low swing point is plotted when the price moves downwards and exceeds the previous low by the same criteria. This ensures that only significant price moves are considered, filtering out minor fluctuations and providing a clear view of the overall market trend.
In addition to plotting zigzag lines, the indicator can now identify and draw support and resistance levels based on the detected swing points. These levels are crucial for identifying potential reversal areas and market structure.
Key Features
Swing Point Detection: Accurately identifies significant price swings by considering both percentage price change and volatility (via Average True Range).
Dynamic Support/Resistance: Automatically generates support and resistance lines based on the identified swing points, providing potential areas of price reversals.
Customizable Parameters: Tailor the indicator's sensitivity to your preferred trading style and market conditions. Adjust parameters like percentage reversal, ATR settings, and absolute/tick reversals.
Visual Clarity: Choose to display the ZigZag line, support/resistance levels, new trend icons, continuation icons, and even customize bar colors for easy visual analysis.
Trading Applications
Trend Identification: Easily visualize the prevailing market trend using the direction of the ZigZag line and support/resistance levels.
Entry/Exit Signals: Potential entry points can be identified when the price interacts with the dynamic support/resistance levels.
Stop-Loss Placement: Use recent swing points as logical places for setting stop-loss orders.
Profit Targets: Project potential price targets based on the distance between previous swing points.
Input Parameters
Several input parameters can be adjusted to customize the behavior of the Sylvain Zig-Zag indicator. These parameters allow traders to fine-tune the detection of swing points and support/resistance levels to better suit their trading strategy and the specific market conditions they are analyzing.
High Source and Low Source:
These inputs define the price points used for detecting high and low swing points, respectively. You can choose between high, low, open, or close prices for these calculations.
Percentage Reversal:
This input sets the minimum percentage change in price required for a swing to be detected. A higher percentage value will result in fewer but more significant swing points, while a lower value will detect more frequent, smaller swings.
Absolute Reversal:
This parameter allows for an additional fixed value to be added to the minimum price change and ATR change. This can be useful for increasing the distance between swing points in volatile markets.
ATR Length:
This input defines the period used for calculating the ATR, which is a measure of market volatility. A longer ATR period will smooth out the ATR calculation, while a shorter period will make it more sensitive to recent price changes.
ATR Multiplier:
This factor is applied to the ATR value to adjust the sensitivity of the swing point detection. A higher multiplier will increase the required price movement for a swing point to be plotted, reducing the number of detected swings.
Tick Reversal:
This input allows for an additional value in ticks to be added to the minimum price change and ATR change, providing further customization in the swing point detection process.
Support and Resistance:
Show S/R: Enable or disable the plotting of support and resistance levels.
Max S/R Levels: Set the maximum number of support and resistance levels to display.
S/R Line Width: Adjust the width of the support and resistance lines.
Visual Settings
The Sylvain Zig-Zag indicator also includes visual settings to enhance the clarity of the plotted swing points and trends. You can customize the color and width of the zigzag line, and enable icons to indicate new trends and continuation patterns. Additionally, the bars can be colored based on the detected trend, aiding in quick visual analysis.
Conclusion
This port of the ZigZagHighLow study from NinjaScript to Pine Script preserves the essence of Sylvain Vervoort’s methodology while adding new features for support and resistance. It provides traders with a powerful tool for technical analysis. The combination of price changes and ATR ensures that you have a robust and adaptable tool for identifying key market movements and structural levels. Customize the settings to match your trading style and gain a clearer picture of market trends, turning points, and support/resistance areas. Enjoy improved market analysis and more informed trading decisions with the Sylvain Zig-Zag indicator.
Alpha-Sutte Multi-Price Indicator [CHE] Overview
The AlphaSutte MultiPrice Indicator is a powerful tool for forecasting market movements and generating trading signals. At its core is the AlphaSutte Model, which stands out for its innovative approach to predicting future price movements.
Inspired by the () on TradingView, this indicator enhances the original concept by integrating it with the T3 smoothing technique to improve trend identification and signal reliability.
The AlphaSutte Model
The AlphaSutte Model is a mathematical method for forecasting prices based on the analysis of historical price data. It is applied to various price components such as High, Low, Open, and Close. The model predicts future values using differences and weighted averages of previous periods. Here are the key steps and components of the AlphaSutte Model:
1. Data Extraction:
The model extracts historical values at specified intervals. For example, it uses the values from the last four periods for calculations.
2. Difference Calculations:
Differences between successive historical values are calculated:
Delta_x: Difference between the first and fourth values.
Delta_y: Difference between the second and first values.
Delta_z: Difference between the third and second values.
3. Weighted Average Calculation:
These differences are then integrated into a weighted average to forecast the future value:
The weighted average combines the historical values and their differences to calculate the forecasted value, referred to as a_t.
4. Application to Price Components:
The AlphaSutte Model can be applied to various price components:
High: Forecasting the future high price.
Low: Forecasting the future low price.
Open: Forecasting the future opening price.
Close: Forecasting the future closing price.
5. Averaging AlphaSutte Values:
If multiple price components are used for calculation, an average of the AlphaSutte values is computed. This average serves as the basis for generating trading signals.
Trading Signals and Directional Change
The AlphaSutte Model is used to generate long and short trading signals. These signals are confirmed by the directional change of the T3 Indicator to enhance reliability:
Long Signals:
A long signal is generated when the average value of the AlphaSutte Model is positive, and the T3 indicator previously showed a downtrend.
These signals are displayed with green labels and lines on the chart.
Short Signals:
A short signal is generated when the average value of the AlphaSutte Model is negative, and the T3 indicator previously showed an uptrend.
These signals are displayed with red labels and lines on the chart.
StepbyStep Explanation of the Script
The AlphaSutte MultiPrice Indicator script in TradingView is designed to provide comprehensive market trend analysis and trading signal generation. Here is a stepbystep explanation of how the script operates:
1. Input Parameters:
The script begins by defining several input parameters for the T3 indicator and AlphaSutte Model, including:
`t3Length`: The length of the T3 moving average.
`t3VolumeFactor`: The volume factor used in T3 smoothing.
Boolean inputs to determine which price components (High, Low, Open, Close) should use the AlphaSutte Model.
`numLastLabels`: The number of last labels to display for recent signals.
2. T3 Smoothing Function:
The `t3Smoothing` function calculates the T3 smoothed value for the specified source price using a series of exponential moving averages (EMAs):
It calculates six sequential EMAs of the source price.
It then combines these EMAs using specific coefficients to obtain the T3 value.
3. AlphaSutte Calculation Function:
The `get_alpha_sutte` function forecasts future values based on historical price data:
It extracts historical price values at specific intervals.
It calculates the differences (deltas) between these values.
It computes a weighted average of these deltas to obtain the AlphaSutte value.
4. Calculating AlphaSutte Components:
The script calculates the AlphaSutte values for the selected price components (High, Low, Open, Close) based on user input.
It then averages these values if multiple components are selected.
5. Generating Long and Short Conditions:
The script defines conditions for generating long and short signals based on the AlphaSutte average:
`long_condition`: True if the AlphaSutte average is positive.
`short_condition`: True if the AlphaSutte average is negative.
6. Tracking T3 Trend Direction:
The script updates state variables to track whether the T3 line is in an uptrend or downtrend:
`t3_uptrend`: True if the T3 value is higher than the previous T3 value.
`t3_downtrend`: True if the T3 value is lower than the previous T3 value.
7. Generating and Managing Labels and Lines:
The script generates labels and lines on the chart to visualize long and short signals:
For long signals, green labels and lines are created when the long condition is met, and the T3 was previously in a downtrend.
For short signals, red labels and lines are created when the short condition is met, and the T3 was previously in an uptrend.
Old labels and lines are deleted to keep the chart clean and relevant.
8. Updating Lines to Current Candle:
The script dynamically updates the end points of the lines to the current candle to reflect the latest market data.
9. Highlighting Movements:
The script optionally highlights the T3 line based on its direction to visually emphasize the trend:
Green for an uptrend and red for a downtrend.
10. Plotting the T3 Line:
Finally, the T3 line is plotted on the chart with the specified color and line width to provide a clear visualization of the trend.
Conclusion
The primary focus of the AlphaSutte MultiPrice Indicator is on the forecasting capabilities of the AlphaSutte Model. This model's forecasts are the most critical part of the indicator, providing the essential signals for potential market movements. The T3 indicator serves as a confirmation tool, validating these forecasts by indicating the direction of the trend. This combination enhances the reliability of the trading signals, making the AlphaSutte MultiPrice Indicator a valuable asset for traders looking to make informed decisions based on robust market analysis.
Best regards Chervolino
Fair Value Gap (FVG) Oscillator [UAlgo]The "Fair Value Gap (FVG) Oscillator " is designed to identify and visualize Fair Value Gaps (FVG) within a given lookback period on a trading chart. This indicator helps traders by highlighting areas where price gaps may signify potential trading opportunities, specifically bullish and bearish patterns. By leveraging volume and Average True Range (ATR) data, the FVG Oscillator aims to enhance the accuracy of pattern recognition and provide more reliable signals for trading decisions.
🔶 Identification of Fair Value Gap (FVG)
Fair Value Gaps (FVG) are specific price areas where gaps occur, and they are often considered significant in technical analysis. These gaps can indicate potential future price movements as the market may return to fill these gaps. This indicator identifies two types of FVGs:
Bullish FVG: Occurs when the current low price is higher than the high price two periods ago. This condition suggests a potential upward price movement.
Obtains with:
low > high
Bearish FVG: Occurs when the current high price is lower than the low price two periods ago. This condition suggests a potential downward price movement.
Obtains with:
high < low
The FVG Oscillator not only identifies these gaps but also verifies them using volume and ATR conditions to ensure more reliable trading signals.
🔶 Key Features
Lookback Period: Users can set the lookback period to determine how far back the indicator should search for FVG patterns.
ATR Multiplier: The ATR Multiplier is used to adjust the sensitivity of the ATR-based conditions for verifying FVG patterns.
Volume SMA Period: This setting determines the period for the Simple Moving Average (SMA) of the volume, which helps in identifying high volume conditions.
Why ATR and Volume are Used?
ATR (Average True Range) and volume are integrated into the Fair Value Gap (FVG) Oscillator to enhance the accuracy and reliability of the identified patterns. ATR measures market volatility, helping to filter out insignificant price gaps and focus on impactful ones, ensuring that the signals are relevant and strong. Volume, on the other hand, confirms the strength of price movements. High volume often indicates the sustainability of these movements, reducing the likelihood of false signals. Together, ATR and volume ensure that the detected FVGs are both significant and supported by market activity, providing more trustworthy trading signals.
Normalized Values: The FVG counts are normalized to enhance the visual representation and interpretation of the patterns on the chart.
Visual Customization and Plotting: Users can customize the colors for positive (bullish) and negative (bearish) areas, and choose whether to display these areas on the chart, also plots the bullish and bearish FVG counts, a zero line, and the net value of FVG counts. Additionally, it uses histograms to display the width of verified bullish and bearish patterns.
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Pivot Points - [RealFact]Description:
The Pivot Points indicator is a powerful tool for identifying potential support and resistance levels based on previous price action. It calculates key pivot levels (P), along with support (S1, S2) and resistance (R1, R2) levels, which are used to forecast potential turning points in the market.
Key Features:
Pivot Calculation: Based on the previous period's high, low, and close prices.
Support and Resistance Levels: Three support (S1, S2) and three resistance (R1, R2) levels.
Customizable Timeframes: Applicable to various timeframes including daily, weekly, and monthly charts.
Visual Representation: Levels are clearly plotted on the chart, making it easy to identify key areas.
Trading Strategies: Useful for breakout, reversal, and trend-following strategies.
How to Use:
Identify Key Levels: Use the pivot point (P) to determine the general market trend.
Support and Resistance: Look for price reactions at S1, S2, R1 and R2 to find potential entry and exit points.
Combine with Other Indicators: Enhance analysis by combining with other technical indicators such as Moving Averages, RSI, or MACD.
Formula:
Pivot Point (P) = (High + Low + Close) / 3
Support 1 (S1) = 2P - High
Resistance 1 (R1) = 2P - Low
Support 2 (S2) = P - (High - Low)
Resistance 2 (R2) = P + (High - Low)
Best Practices:
Confirm with Volume: Look for volume confirmation when price approaches pivot levels.
Avoid False Breakouts: Be cautious of false breakouts and use other indicators to confirm price moves.
Swing Failure Zones and Signals [AlgoAlpha]Elevate your trading strategy with the Swing Failure Zones and Signals indicator by AlgoAlpha! This powerful tool helps you identify potential swing failure zones, offering clear bullish and bearish signals to guide your trading decisions. 📈💡
🎨 Bullish/Bearish Color Customization : Easily set the colors for bullish and bearish signals to match your chart preferences.
🧹 Mitigated Zone Removal : Option to remove mitigated zones from the chart for a cleaner view.
🔍 Range High/Low Lookback : Adjustable lookback period for determining significant highs and lows.
🖌 Dynamic Zone Creation : Automatically draws zones based on swing failure criteria.
🔔 Alert Conditions : Set alerts for both bullish and bearish swing failure conditions to stay informed without constant monitoring.
Quick Guide to Using the Swing Failure Zones and Signals Indicator
🛠 Add the Indicator : Search for "Swing Failure Zones and Signals " in TradingView's Indicators & Strategies. Customize settings like lookback period, colors, and zone removal options to fit your trading style.
📊 Market Analysis : Watch for the appearance of the zones and the directional arrows for potential reversal signals. Use these signals to identify key market entries and exits.
🔔 Alerts : Enable alerts for bullish and bearish swing failure conditions to capture trading opportunities without constant chart monitoring.
How it works
The indicator calculates the direction and length of each candle to identify swing failure points by comparing current high and low prices with those from the lookback period. A bullish swing failure is detected when the current low is lower than the previous low and the close is higher than the previous high, while a bearish swing failure occurs when the current high is higher than the previous high and the close is lower than the previous low. Upon detection, the script creates zones on the chart to indicate these failure points and manages them by removing invalidated zones based on the user's settings. Visual signals are plotted on the chart as arrows, and alerts are set for these conditions to help traders capture potential entry opportunities efficiently.
Enhance your trading edge with this robust tool designed to spotlight critical swing failure points in the market! 💪📈
Volume-Enhanced Momentum Moving Average (VEMMA)Volume-Enhanced Momentum Moving Average (VEMMA)
Overview:
The Volume-Enhanced Momentum Moving Average (VEMMA) helps you spot market trends by combining momentum and volume as a moving average. This unique moving average adjusts itself based on the strength and activity of the market, giving you a clearer picture of what’s happening.
How It Works:
1. Key Settings (all of these are adjustable in the settings panel of the indicator):
◦ Base Length: Looks back over the last 50 days by default.
◦ Momentum Length: Uses the past 14 days to measure market strength.
◦ Volume Length: Uses the past 30 days to average trading volume.
◦ High/Low Thresholds: Considers RSI values above 70 as high momentum and below 30 as low momentum.
2. Momentum and Volume:
◦ Momentum: Calculated using the Relative Strength Index (RSI) to see if the market is gaining or losing strength.
◦ Volume: Average trading volume is calculated over the last 30 days to gauge trading activity.
3. VEMMA Calculation:
◦ For each of the past 50 days:
▪ Check Momentum: If RSI > 70, it’s high momentum; if RSI < 30, it’s low.
▪ Weight by Volume: High momentum days with high volume get more weight; low momentum days get less.
▪ Combine: Multiply the closing price by this weight and sum it up.
◦ Average: Divide the total by 50 to get the VEMMA value.
4. Visuals:
◦ Lines: Two lines, VEMMA1 (blue) and VEMMA2 (orange), show the adjusted moving averages.
◦ Colours: Background colors help you quickly spot high (green) and low (red) momentum periods.
How to Use:
• Spot Trends: Rising VEMMA lines suggest an uptrend; falling lines suggest a downtrend.
• Confirm Signals: When both VEMMA1 and VEMMA2 move together, it indicates a strong trend.
• Identify Reversals: Watch for background color changes from green to red or vice versa to catch potential trend reversals.
If the market has been strong and active, the VEMMA line will rise more sharply. If the market is weak and quiet, the line will be smoother.
Benefits:
• Integrated View: Combines market strength and trading activity for a fuller picture.
• Responsive: Adapts to significant market changes, highlighting key movements.
• Easy to Read: Clear visuals with color-coded backgrounds make interpretation simple.
Remember, just like any other indicator, this is not supposed to be used alone. Use it as part of your greater trading strategy. I do however believe it works exceptionally well for finding longer term trends early. The default VEMMA settings work very well as replacement for the EMA 200. Try it and see how it goes. Play around with the settings. Feedback appreciated.
Pivot Points + Day First Candle Breakout + VWAP + Supertrend This indicator amalgamates several key indicators to provide a comprehensive analysis for trading decisions, including SuperTrend, Pivot Points, VWAP, along with the Day First Candle Breakout strategy.
Key Features:
Day First Candle Breakout: Identifies potential breakout opportunities based on the first candle of the trading day. It utilizes the high and low of the initial trading range to determine entry points.
Timeframe Selection: Allows users to select the timeframe for analyzing the first candle (e.g., 5, 15, or 60 minutes).
Previous Day and Week High/Low: Displays the high and low of the previous day and week to provide additional context for trading decisions and assess the strength of the trend.
Trend Strength Analysis: Indicates whether the current price is above or below the previous day's high or low, signaling a stronger bullish or bearish trend respectively.
SuperTrend Indicator: Visualizes the trend direction and potential reversal points based on the SuperTrend indicator. It helps traders to stay aligned with the prevailing trend and avoid premature exits.
Pivot Points: Presents key support and resistance levels derived from Pivot Points, assisting traders in identifying potential reversal or breakout zones.
VWAP (Volume Weighted Average Price): Plots VWAP to provide insight into the average price traded over a given period, aiding in determining the fair value of the asset and potential buying/selling zones.
Trading Signals:
Buy Signal: Triggered when the price exceeds the high of the initial trading range after an upward price gap.
Sell Signal: Generated when the price falls below the low of the initial trading range after a downward price gap.
Caveats for Effective Trading:
Extended Trading Ranges: Adjusts support and resistance levels if the initial trading range extends beyond the defined timeframe.
Morning Noise Consideration: Exercises caution during volatile morning sessions to avoid false breakouts and whipsaws.
Pullbacks and Narrow Range Bars: Looks for opportunities during pullbacks or when the price forms narrow range bars to enter trades, reducing the risk of sudden reversals.
Fibonacci Golden Wave | Flux Charts💎 GENERAL OVERVIEW
Introducing the new Fibonacci Golden Wave indicator! This indicator plots the Fibonacci golden zone from the last highs / lows instead of the pivots so that the resulting zone is shaped like a "wave". We believe this will help you to see the latest trend of the Fibonacci retracement levels easier. For more information of the working progress of the indicator, check the "How Does It Work" section of the description.
Features of the new Fibonacci Golden Wave Indicator :
Plots Fibonacci Golden Zone Based On Highs / Lows
A Different Approach To Fibonacci Retracement Levels
Customizable Swing Range & Retracement Levels
Customizable Visuals
🚩UNIQUENESS
The Fibonacci Golden Zone is a widely used concept in trading. To achieve the golden zone, the Fibonacci retracement levels are generally placed between pivot high / lows, resulting in a rectangular zone. However, this indicator will place the Fibonacci retracement levels between the last highest / lowest points going back from the current bar, resulting in a "wave" shape. This will help traders understand the latest trend of the Fibonacci golden zone. The ability to change the Fibonacci retracement levels to your liking in the settings is another unique function of this indicator.
📌 HOW DOES IT WORK ?
To calculate the Fibonacci wave, first of all we need to place a line at the lowest low and the highest high of the last 20 bars (can be changed from the settings)
Then, Fibonacci retracement levels are placed between those lines.
For the next step, put two points in the (1.0 - 0.618) = 0.382 and (1.0 - 0.5) = 0.5 (can be changed from the settings) levels of the Fibonacci retracement.
Repeat this step for each bar in the chart, then connect all the points.
Instead of a pivot approach to the Fibonacci retracement levels, this approach will not need a new pivot point to form before calculating the new Fibonacci golden zone, thus indicating the latest trend of the current golden zone.
🚨HOW YOU CAN USE THIS INDICATOR
Fibonacci retracement tool is typically used to find entries after a pullback in an uptrend or downtrend. The Fibonacci Golden Wave can be used in the same way. It can be used to find entries after markets retrace. In this example, the Fibonacci Golden Wave is able to catch 2 pullback opportunities to enter long in the market with the trend.
⚙️SETTINGS
1. General Configuration
Swing Range -> This setting determines how the highest high / lowest low levels are calculated. This essentially means that the script will look back X bars before the current bar in calculation to find the highest / lowest wick points.
2. Golden Zone
Here you can select which range of the Fibonacci retracement levels should be considered as the golden zone. The default value is 0.5 - 0.618.
VPQuantLibLibrary "VPQuantLib"
Misc of math, position size and consolidation detection functions that can be used accross various scripts.
isPercentAboveReference(current, percent, reference, or_equal)
Checks if the current value is bigger (or equal) with the provided percent value to the reference
Parameters:
current (float) : - what to check against the reference
percent (float) : - what is the percent to check for difference
reference (float) : - what to compare against
or_equal (bool) : - enables checking for bigger or equal
Returns: true if the current is percent bigger (or equal) to the reference
isPercentBelowReference(current, percent, reference, or_equal)
Checks if the current value is smaller (or equal) with the provided percent value to the reference
Parameters:
current (float) : - what to check against the reference
percent (float) : - what is the percent to check for difference
reference (float) : - what to compare against
or_equal (bool) : - enables checking for smaller or equal
Returns: true if the current is percent smaller (or equal) to the reference
isInRange(current, reference, min_percent, max_percent, below)
Checks if the current value is greater/smaller than the reference value within the provided percent range
Parameters:
current (float) : - what to check for being in range against the refenence
reference (float) : - what to compare against
min_percent (float) : - the min percent range border
max_percent (float) : - the max percent range border
below (bool) : - check if below or above the reference
@return true if the current is bigger/smaller than the reference withing the percent range provided
GetRiskBasedPositionSize(account_balance, equity_risk_perc, max_loss_per_share)
Calculates and returns the positins size based on risk of the equity
Parameters:
account_balance (float) : - total account balance
equity_risk_perc (int) : - percent of equity to risk in the trade
max_loss_per_share (float) : - maximum loss per share (in currency, not in %) that we're willing to loose (calc based on the entry_price-stop_loss_price)
@return number of shares to buy
CheckInRangeConsolidation(consolidation_period, allowed_consolidation_range, ref_high, ref_low, prev_bar_consolidaton, draw_consolidation_lines)
Checks if the current bar is in a consolidation range
Parameters:
consolidation_period (int) : - the number of bars to consider for consolidation range calculation
allowed_consolidation_range (int) : - the percentage range allowed for the current consolidation range to be considered valid
ref_high (float) : - the reference high value to use for consolidation range calculation
ref_low (float) : - the reference low value to use for consolidation range calculation
prev_bar_consolidaton (bool)
draw_consolidation_lines (bool) : - a boolean indicating if consolidation range lines should be drawn on the chart
@return a tuple of three values:
1. _curr_consolidation - a boolean indicating if the current bar is in consolidation range
2. _curr_consolidation_low - the current consolidation low value
3. _curr_consolidation_high - the current consolidation high value
FindBasicConsolidation(loopback_period, consolidation_length, ref_high, ref_low, draw_consolidation_lines)
Finds a basic consolidation areas, looking back 1000 bars to find the pivot of the trend and checks if the current bar is in consolidation area counting the
number of bars that have not broken the consolidation high/low levels
Parameters:
loopback_period (int) : - the number of bars to look back to determine the high/low watermark
consolidation_length (int) : - minimum number of bars required to establish a consolidation period
ref_high (float) : - user input for high (can be based on the bar or wicks)
ref_low (float) : - user input for high (can be based on the bar or wicks)
draw_consolidation_lines (bool) : - enable/disable drawing of the consolidation lines
Returns: _pivot_point - pivot point
Anchored Chandelier ExitThe Chandelier Exit is a popular tool among traders used to help determine appropriate stop loss levels. Originally developed by Chuck LeBeau, the Chandelier Exit takes into account market volatility and adjusts the stop loss level dynamically. This indicator builds upon the original Chandelier Exit by allowing the trader to select an anchor date or starting point for the indicator to begin calculating from.
The Original Chandelier Exit
Before we get into the details of the Anchored Chandelier Exit, let's review the original. Essentially a dynamic ATR stop loss, the Chandelier Exit provides a trailing stop that moves higher or lower based on volatility.
The Chandelier Exit is calculated based on the following criteria:
🔶ATR - The ATR is used to measure the volatility of a security over a lookback period. The ATR length determines the number of bars to consider when calculating the average true range. The shorter the length, the more responsive the level will be.
🔶ATR Multiplier - The default multiplier is set to 3. This is used to determine the sensitivity of the Chandelier Exit. The higher the ATR multiplier the wider the stop levels will be. A lower multiplier will tighten stop levels.
🔶Highest / Lowest Points - Determine the highest high (bullish trade) or lowest low (bearish trade) during the lookback period. The default length is 22 bars.
Calculating the Chandelier Exit
Bullish trades - Highest High - ATR * Multiplier
Bearish trades - Lowest Low + ATR * Multiplier
The Anchored Chandelier Exit
The Anchored Chandelier Exit is a new twist on the original, allowing traders to adapt their stop loss levels based on specific market events, levels or bars.
Similar to the original, traders can select the ATR length and multiplier, however, the high or low from which the ATR is subtracted or added is first determined at the anchor bar.
As new bars form, the indicator checks for the previous high/low to be breached. If the high or low is exceeded, the highest/lowest point is updated and the Chandelier Exit is recalculated.
When the indicator is first loaded to your chart, it will ask you to select an anchor bar and choose the bias for the trade.
A bullish (long) bias trade will plot the Chandelier Exit below price action, while a bearish (short) bias trade will plot the Chandelier Exit above price action.
Indicator Features
🔶Custom Start Date
🔶Bullish or Bearish Bias
🔶Selectable ATR Length & Multiplier
🔶Custom Colors
🔶Exit With Close or Wicks
🔶Exit Alerts
With careful parameter optimization, the Anchored Chandelier Exit can be a useful tool for helping traders manage risk based on market volatility.
Market SessionsMarket Sessions Indicator Overview:
The "Market Sessions" indicator is a powerful tool designed to enhance traders' insights by providing comprehensive information about key market sessions, daily high/low values, and important exponential moving averages (EMAs) directly on the trading chart.
Key Features:
Market Sessions Display:
Visually represents Sydney/Tokyo, London, and New York sessions using distinct color-coded shapes.
Enhances visibility by dynamically changing the background color during specific trading sessions.
Daily High/Low:
Plots and labels the high and low values of the previous trading day on the chart.
Customizable colors for daily high and low markers.
Exponential Moving Averages (EMAs):
Includes 20, 50, and 200-period EMAs for comprehensive trend analysis.
Users have the flexibility to customize the visibility and color of each EMA.
Dashboard Information:
Real-time information about the current and upcoming market sessions.
Displays the time remaining for the upcoming session, aiding in timely decision-making.
Stock Session Information:
Clearly marks open and close times for Asia, Euro, and USA stock sessions.
Customizable visibility options for stock open/close lines, allowing for a tailored chart display.
Usage Guidelines:
Market Session Identification: Easily identify distinct market sessions using color-coded shapes and background color changes.
Daily Analysis: Quickly reference labeled lines for the high and low values of the previous trading day.
Trend Analysis: Observe the plotted EMAs on the chart for insights into the prevailing trends.
Real-time Monitoring: Utilize the dashboard for real-time information on current and upcoming sessions.
Stock Session Details: Identify specific open and close times for stock sessions, aiding in strategic planning.
Customization Options:
User-Friendly Parameters: Customize visibility, color, and positioning based on individual preferences.
Dashboard Configuration: Adjust dashboard position, text placement, and EMA parameters to tailor the indicator to specific needs.
Backtesting Feature:
The indicator includes a backtest feature, allowing users to visualize past sessions for testing and refining trading strategies.
This Market Sessions Indicator provides traders with a holistic view of market dynamics, facilitating informed decision-making and enhancing overall trading experiences.
Data from dataThe "Data from Data" indicator, developed by OmegaTools, is a sophisticated and versatile tool designed to offer a nuanced analysis of various market dynamics, catering to traders and investors seeking a comprehensive understanding of price movements considering a large amount of data and variables.
The uses of this indicator are nonconventional. You can use the indicator as a stand-alone tool on the chart, hiding the current symbol price data, to be able to analyze the price action with the Semaphore visualization method, you can also hide the indicator and choose from your favorite indicators and oscillator one of the data output as a source to have additional insight on the asset.
The last use of this indicator, which depends on the X Value that you set in the settings, is to have a possible scenario for the future outcomes of the markets. Remember that there is no tool that can really predict what the market will do in the future, this tool applies a large amount of formulas to use past prices as an indication that aims to be as close as possible to the future prices. The X Value not only changes the lookback of the formulas but also changes the number of future scenarios that the indicator will plot on the chart.
Key Features:
1. Rate of Change Analysis:
The indicator evaluates the rate of change variations in closing prices, providing insights into the current rate of change and expected rate of change variation.
2. Momentum Analysis:
Momentum is analyzed through calculations involving simple moving averages, offering expected values derived from momentum and momentum variation.
3. High/Low Variation:
The expected market behavior is assessed based on the average variation between high and low prices, contributing to a more holistic analysis.
4. Liquidity Targets:
Liquidity targets can be found by analyzing the highs and lows in the direction of the current fair price.
5. Regression Sequence:
Linear regression analysis is applied to closing prices, assessing momentum and providing expected values based on regression sequences.
6. Volume Presence:
The indicator evaluates the Rate of Change (ROC) by volume presence, offering insights into price movements influenced by trading volume.
7. Liquidity Grabs:
Expected market behavior is determined based on liquidity grabs, considering both current and historical price levels.
8. Fair Value Analysis:
Expected values are derived from fair value closes and fair value highs and lows, contributing to a more nuanced analysis of market conditions.
9. STT (Sequential Trend Test):
The Sequential Trend Test is employed to analyze market trends, providing expected values for a more informed decision-making process.
Visualization:
The indicator shows a "Semaphore" on the chart, visually representing all of the data extrapolated from the script. The visualization can be more minimalistic or more complex, to let the user decide that, in the settings, it's possible to decide if to show all of the data or only the average.
Additionally, the user can choose to display bars on the chart, that visualize the standard high and low of the price data, with the difference between the expected forecasted value and the actual closing price.
My suggestion is to try to change the colors of the data to fit best your eye and the data that you find more useful, and also to try to change some parameters from circle to line as a visualization method to catch with more ease some price patterns.
Error Analysis:
The indicator provides a detailed error analysis, including historical error, average error, and present error. This information is presented in a user-friendly table for quick reference. This table can be used to analyze the margin of error of the expected future price.
SessionVolumeProfileLibrary "SessionVolumeProfile"
Analyzes price & volume during regular trading hours to provide a session volume profile analysis. The primary goal of this library is to provide the developer with three values: the value area high, low and the point of control. The library also provides methods for rendering the value areas and histograms. To learn more about this library and how you can use it, click on the website link in my profile where you will find a blog post with detailed information.
debug(vp, position)
Helper function to write some information about the supplied SVP object to the screen in a table.
Parameters:
vp (Object) : The SVP object to debug
position (string) : The position.* to place the table. Defaults to position.bottom_center
getLowerTimeframe()
Depending on the timeframe of the chart, determines a lower timeframe to grab volume data from for the analysis
Returns: The timeframe string to fetch volume for
get(volumeProfile, lowerTimeframeHigh, lowerTimeframeLow, lowerTimeframeVolume)
Populated the provided SessionVolumeProfile object with vp data on the session.
Parameters:
volumeProfile (Object) : The SessionVolumeProfile object to populate
lowerTimeframeHigh (float ) : The lower timeframe high values
lowerTimeframeLow (float ) : The lower timeframe low values
lowerTimeframeVolume (float ) : The lower timeframe volume values
drawPriorValueAreas(todaySessionVolumeProfile, extendYesterdayOverToday, showLabels, labelSize, pocColor, pocStyle, pocWidth, vahlColor, vahlStyle, vahlWidth, vaColor)
Given a SessionVolumeProfile Object, will render the historical value areas for that object.
Parameters:
todaySessionVolumeProfile (Object) : The SessionVolumeProfile Object to draw
extendYesterdayOverToday (bool) : Defaults to true
showLabels (bool) : Defaults to true
labelSize (string) : Defaults to size.small
pocColor (color) : Defaults to #e500a4
pocStyle (string) : Defaults to line.style_solid
pocWidth (int) : Defaults to 1
vahlColor (color) : The color of the value area high/low lines. Defaults to #1592e6
vahlStyle (string) : The style of the value area high/low lines. Defaults to line.style_solid
vahlWidth (int) : The width of the value area high/low lines. Defaults to 1
vaColor (color) : The color of the value area background. Defaults to #00bbf911)
drawHistogram(volumeProfile, bgColor, showVolumeOnHistogram)
Given a SessionVolumeProfile object, will render the histogram for that object.
Parameters:
volumeProfile (Object) : The SessionVolumeProfile object to draw
bgColor (color) : The baseline color to use for the histogram. Defaults to #00bbf9
showVolumeOnHistogram (bool) : Show the volume amount on the histogram bars. Defaults to false.
Object
Fields:
numberOfRows (series__integer)
valueAreaCoverage (series__integer)
trackDevelopingVa (series__bool)
valueAreaHigh (series__float)
pointOfControl (series__float)
valueAreaLow (series__float)
startTime (series__integer)
endTime (series__integer)
dayHigh (series__float)
dayLow (series__float)
step (series__float)
pointOfControlLevel (series__integer)
valueAreaHighLevel (series__integer)
valueAreaLowLevel (series__integer)
volumeRows (array__float)
priceLevelRows (array__float)
ltfSessionHighs (array__float)
ltfSessionLows (array__float)
ltfSessionVols (array__float)
Kawasaki_MFIKawasaki_MFI Indicator
The Kawasaki_MFI indicator is a customized technical analysis tool developed to analyze asset prices in financial markets. This script is implemented in TradingView's Pine Script language (version 5) and is based on the concept of the Accumulation/Distribution Line (ADL) which is a volume-based indicator designed to measure the cumulative flow of money into and out of a security.
Script Details
Version: Pine Script version 5
Overlay: True - The indicator is plotted directly on the price chart.
Input Variables
The script utilizes the following input variables sourced from daily (D) time frames:
High (my_high): The highest price of the security in the daily time frame.
Low (my_low): The lowest price of the security in the daily time frame.
Close (my_close): The closing price of the security in the daily time frame.
Volume (my_volume): The trading volume of the security in the daily time frame.
ADL Calculation
The ADL is calculated using the following formula:
ADL
=
Cumulative sum of ((Close−Low)−(High−Close)High−Low×Volume)
ADL=Cumulative sum of ( High−Low(Close−Low)−(High−Close)×Volume)
Plot
The ADL line is plotted on the chart with the following characteristics:
Title: ADL
Color: Blue
Usage
Traders can use the Kawasaki_MFI indicator to identify trends and potential reversal points in the market. A rising ADL line suggests buying pressure, while a falling ADL line suggests selling pressure. It can be used in conjunction with other technical indicators to develop a comprehensive trading strategy.
Feel free to add more details or modify the description to better suit your needs.
Pivotal MomentsPivotal Moments draws lines for each of up to 500 pivot high and pivot low levels that have never been revisited at the present moment in time. After the Pivotal Moments indicator has been loaded onto chart and any of the subsequent realtime bars that are formed touch or cross a pivot level it is deleted. The duration for how long any touched or crossed pivot levels remain on chart before deletion may be extended by N bars or N units of time.
There are user selectable options for the following:
• Pivot Bars Left : the number of lower highs or higher lows that must be formed before a possible pivot bar can occur.
• Right : the number of lower highs or higher lows that must be formed after potential pivot to validate a pivot bar.
• Lines Show As : the choice of line style to use for the drawn pivot levels includes Dashed, Dotted, or Solid.
• Wide : the number of lines wide for how thick the drawn pivot levels are desired to be on the chart.
• Delay Removal : the number of units that touched or crossed pivot levels will persist on chart.
• Units : the choice of which delay unit type includes nBars, nSecs, nMins, nHrs, or nDays.
• Extend Right : the number of bars right of current bar to extend drawn pivot levels.
• Show : the number of maximum recent drawn pivot levels to keep on chart.
• Colors Used : the colors used for pivots high, low, and dual pivot bars.
• Show Price Labels : the choice whether to show prices for levels.
• On Right : the choice to move prices to right of pivot levels.
• Show Pivot Bars : the choice to colorize pivot bars.
If desired, alerts can be received for whenever new touches or crosses occur for both pivot highs and pivot lows by creating a single Alert. Note that these alerts are triggered by realtime bars which by their very nature are repainting prices, thus the alert creation window will warn of this with an orange exclamation symbol. For an illustration of how to create alerts for this indicator click the chart below:
Credit: this indicator was originally built for @Luckshury, who has graciously given me permission to publish it publicly.
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
ICT Institutional Order Flow (fadi)ICT Institutional Order Flow indicator is intended to provide wholistic view to better analyze order flow and where price may go to next. The concept follows ICT principles.
ICT Market Structure
ICT breaks down Pivot points into three categories:
Short Term High/Low (STH/STL) is a 3 candle pattern with a low with higher low on each side (STL), or a high with lower high on each side (STH)
Intermediate Term High/Low (ITH/ITL) uses the calculated STH/STL and marks any STH that has lower or STH on each side, and STL that has higher STL on each side
Long Term High/Low (LTH/LTL) uses the calculated ITH/ITL and marks any ITH that has lower or ITH on each side, and ITL that has higher ITL on each side
Note: ICT also states that if a STH wicks into and closes (almost?) a FVG, he marks it as ITH even if it does not have STH on reach side. This scenario is not covered by this indicator
Liquidity
liquidity is usually present under pivot points. The more prominent the pivot point, the more likely higher values liquidity pools reside under/above it. Liquidity under ITL and LTL as an example, will have better indication of which liquidity the price may seek next.
Displacement
Displacement registers above average move in the price resulting in strong visible move. If requiring a FVG is enabled (in settings), then the displacement could possibly (but never guaranteed) be used to visually recognize a move as it develops.
Full Credit: The calculation for Displacement is derived from TFO's Visualizing Displacement
Imbalances
Imbalances can come in different forms. This indicator identifies three type of imbalances:
1. FVG
2. Volume Imbalance
3. Open Gaps
Imbalances completes the picture by help visualize strong moves, where possible pivot points may develop, and how to enter or manage a trade.
Previous OHLC Levels [TradeMaster Lite]In trading, the “Previous Open/High/Low/Close” (or previous OHLC) refers to the opening, high, low and closing price of the instrument in the previous period. These prices are typically used in technical analysis to identify trends and patterns and to make trading decisions. Some traders may also use the differences between the opening, high, low and closing prices to make trading decisions. For example, the difference between the closing and opening price (the so-called “true body”) and the high and low price (the so-called “upper shadow” and “lower shadow”) can indicate the strength of a trend, whether the bulls or bears are controlling the market, and can also give an idea of market volatility, and are also used as support and resistance levels.
Previous Open: shows the opening price of the previous period. It's the price at which the market first started trading in that period.
Previous High: represents the highest price reached during the previous period. It can act as a resistance level for the current period.
Previous Low: indicates the lowest price hit during the previous period. It can serve as a support level in the current period.
Previous Close: the last price at which the asset traded during the previous period. It's often considered the most accurate reflection of the market sentiment at the end of that period.
These values provide a summary of the previous trading period's price action, giving you a baseline for comparing current price movements. They can help in understanding the market's direction and identifying potential support and resistance levels. It is important to keep in mind that, like any other technical indicator, Previous OHLC does not give a definitive indication of future market direction and should be used in conjunction with other analytical tools, as well as fundamental analysis and market sentiment. It is also important to have appropriate risk management in place.
👉 General advice
Confirming Signals with other indicators:
As with all technical indicators, it is important to confirm potential signals with other analytical tools, such as support and resistance levels, as well as indicators like RSI, MACD, and volume. This helps increase the probability of a successful trade.
Use proper risk management:
When using this or any other indicator, it is crucial to have proper risk management in place. Consider implementing stop-loss levels and thoughtful position sizing.
Combining with other technical indicators:
The indicator can be effectively used alongside other technical indicators to create a comprehensive trading strategy and provide additional confirmation.
Keep in Mind:
Thorough research and backtesting are essential before making any trading decisions. Furthermore, it's crucial to have a solid understanding of the indicator and its behavior. Additionally, incorporating fundamental analysis and considering market sentiment can be vital factors to take into account in your trading approach.
Limitations:
This is a lagging indicator. Please note that the displayed values are delayed by the chosen timeframe on historical bars and show the values from the previous period on the current bar.
The indicators within the TradeMaster Lite package aim for simplicity and efficiency, while retaining their original purpose and value. Some settings, functions or visuals may be simpler than expected.
⭐ Conclusion
We hold the view that the true path to success is the synergy between the trader and the tool, contrary to the common belief that the tool itself is the sole determinant of profitability. The actual scenario is more nuanced than such an oversimplification. Our aim is to offer useful features that meet the needs of the 21st century and that we actually use.
🛑 Risk Notice:
Everything provided by trademasterindicator – from scripts, tools, and articles to educational materials – is intended solely for educational and informational purposes. Past performance does not assure future returns.
Advanced Volatility-Adjusted Momentum IndexAdvanced Volatility-Adjusted Momentum Index (AVAMI)
The AVAMI is a powerful and versatile trading index which enhances the traditional momentum readings by introducing a volatility adjustment. This results in a more nuanced interpretation of market momentum, considering not only the rate of price changes but also the inherent volatility of the asset.
Settings and Parameters:
Momentum Length: This parameter sets the number of periods used to calculate the momentum, which is essentially the rate of change of the asset's price. A shorter length value means the momentum calculation will be more sensitive to recent price changes. Conversely, a longer length will yield a smoother and more stabilized momentum value, thereby reducing the impact of short-term price fluctuations.
Volatility Length: This parameter is responsible for determining the number of periods to be considered in the calculation of standard deviation of returns, which acts as the volatility measure. A shorter length will result in a more reactive volatility measure, while a longer length will produce a more stable, but less sensitive measure of volatility.
Smoothing Length: This parameter sets the number of periods used to apply a moving average smoothing to the AVAMI and its signal line. The purpose of this is to minimize the impact of volatile periods and to make the indicator's lines smoother and easier to interpret.
Lookback Period for Scaling: This is the number of periods used when rescaling the AVAMI values. The rescaling process is necessary to ensure that the AVAMI values remain within a consistent and interpretable range over time.
Overbought and Oversold Levels: These levels are thresholds at which the asset is considered overbought (potentially overvalued) or oversold (potentially undervalued), respectively. For instance, if the AVAMI exceeds the overbought level, traders may consider it as a possible selling opportunity, anticipating a price correction. Conversely, if the AVAMI falls below the oversold level, it could be seen as a buying opportunity, with the expectation of a price bounce.
Mid Level: This level represents the middle ground between the overbought and oversold levels. Crossing the mid-level line from below can be perceived as an increasing bullish momentum, and vice versa.
Show Divergences and Hidden Divergences: These checkboxes give traders the option to display regular and hidden divergences between the AVAMI and the asset's price. Divergences are crucial market structures that often signal potential price reversals.
Index Logic:
The AVAMI index begins with the calculation of a simple rate of change momentum indicator. This raw momentum is then adjusted by the standard deviation of log returns, which acts as a measure of market volatility. This adjustment process ensures that the resulting momentum index encapsulates not only the speed of price changes but also the market's volatility context.
The raw AVAMI is then smoothed using a moving average, and a signal line is generated as an exponential moving average (EMA) of this smoothed AVAMI. This signal line serves as a trigger for potential trading signals when crossed by the AVAMI.
The script also includes an algorithm to identify 'fractals', which are distinct price patterns that often act as potential market reversal points. These fractals are utilized to spot both regular and hidden divergences between the asset's price and the AVAMI.
Application and Strategy Concepts:
The AVAMI is a versatile tool that can be integrated into various trading strategies. Traders can utilize the overbought and oversold levels to identify potential reversal points. The AVAMI crossing the mid-level line can signify a change in market momentum. Additionally, the identification of regular and hidden divergences can serve as potential trading signals:
Regular Divergence: This happens when the asset's price records a new high/low, but the AVAMI fails to follow suit, suggesting a possible trend reversal. For instance, if the asset's price forms a higher high but the AVAMI forms a lower high, it's a regular bearish divergence, indicating potential price downturn.
Hidden Divergence: This is observed when the price forms a lower high/higher low, but the AVAMI forms a higher high/lower low, suggesting the continuation of the prevailing trend. For example, if the price forms a lower low during a downtrend, but the AVAMI forms a higher low, it's a hidden bullish divergence, signaling the potential continuation of the downtrend.
As with any trading tool, the AVAMI should not be used in isolation but in conjunction with other technical analysis tools and within the context of a well-defined trading plan.
ICT TGIF_V2 [MK]The ICT T.G.I.F (Thank God Its Friday) works on the following strategy:
1. Friday makes the High/Low of the Week.
2. The Weekly High/Low range is used to calculate 20-30% levels. (see chart above)
3. Trades are taken in the Friday PM session (NY EST) with the idea that price may retrace to the 20-30% level.
The indicator plots the following levels:
1. Week High
2. Week Low
3. Week Open
3. 20-30% level in upper part of weekly range (only shows if Friday has made the high of the week)
4. 20-30% level in lower part of weekly range (only shows if Friday has made the low of the week)
It is possible to show all historical levels listed above for the purpose of back-testing the TGIF strategy.
Also it is possible to disable all the historical and current levels, in which case only the 20-30% levels will show when Friday has made the Week High/Low (the 20-30% level only shows from 1200-1600 on Friday to keep charts as clean as possible.
Users of this script, and any script for that matter, should always do proper back-testing before taking any trades.
Many thanks should be given to ICT (The Inner Circle Trader) for bringing this strategy to the trading community.
Below shows indicator with all levels turned ON
Below shows indicator with all levels turned OFF (this allows for cleaner charts)
EMA ProHi Traders!
This Improved EMA Cross Pro Indicator does a few things that Ease Up Our Charting.
Personally it Saved me Tons of Time searching for structure highs / lows, measuring ranges and distances from my entry to stop or take profit.
It's like having most of your trade in front of you, charted for you.
Works Across Assets & Time Frames.
The Functions
1. Signals EMA Crosses - green for Bull Cross & Red for Bear Cross
2. Signals Touches to the 55 EMA
a. In a Bull Cross it will only signal touches and closes Above the 55
b. In a Bear Cross it will only signal touches and closes Under the 55
3. Plots Current Horizontals:
a. The current position of the 55
b. The last High & Low
4. Calculation:
a. % from the 55 to the High & Low
b. Risk / Reward Ratio ("Bad Risk Management" message appears if ratio is not favorable)
c. Over Range between the Low and the High
5. Labels - Current prices for all horizontals marked as Entry, Exit & Stop
Notes:
* This Indicator is Interchanging between bull and bear crosses, it recognizes the trend and adapts its high and low output.
* You Can and Should make your personal changes. everything can be changed in the settings inputs.
* You can Turn On & Off most functions in the settings inputs.
BYBIT:BTCUSDT.P
Dual Dynamic Fibonacci Retracement — Long and Short Duration
Title : "The Dual-Dynamic Fibonacci Retracement Script: An Advanced Tool for Comprehensive Market Analysis"
As the author of the "Dual-Dynamic Fibonacci Retracement Script", I am delighted to introduce you to this cutting-edge tool for technical analysis. Unlike conventional Fibonacci scripts, this advanced model incorporates multiple unique features and adjustments that make it a powerful asset for any market analyst. Whether you're dealing with forex, commodities, equities or any other market, this script is versatile enough to enhance your trading strategy.
Uniqueness & Differentiation:
The "Dual-Dynamic Fibonacci Script" stands out by offering two distinct lookback periods. This feature is what separates it from other scripts available in the market. The first lookback period is longer, focusing on capturing broader market trends. The second lookback period is shorter, allowing for a more granular analysis of near-term market fluctuations. This dual perspective provides a more comprehensive view of the market, allowing you to see both the forest and the trees at the same time.
Fibonacci Levels:
While offering the standard Fibonacci retracement levels (0.236, 0.382, 0.5, 0.618, 0.786, and 1.0), the script also gives you the ability to plot 0.114 and 0.886 levels. These additional levels offer an extra layer of depth to your analysis, and can prove crucial in high-volatility markets where they often serve as significant support and resistance points.
Customizable Line Shifts and Extends:
This script provides options for customization of the shift and extension of the plotted lines. This means you can adjust the start and end points of the Fibonacci lines according to your personal trading style and strategy. This level of personalization is not typically available in other scripts, and it allows for a more tailored visual representation.
Flexible Trading Positioning:
Depending on whether the closing price is above or below the midpoint of the pivot high and pivot low, the Fibonacci retracement levels are adjusted accordingly. This ensures the script remains relevant and useful regardless of market conditions.
Clean Visualization:
To prevent clutter and maintain focus on the most relevant price action, the script removes old Fibonacci lines and plots new ones once a new pivot high or low is identified. This clean visualization helps keep your analysis focused and sharp.
How to Use the Script:
To get started, simply adjust the lookback periods according to your trading strategy. If you're a long-term investor or prefer swing trading, a longer lookback period might be appropriate. Conversely, if you're a day trader, a shorter lookback period might be more beneficial.
The "Shift" and "Extend" inputs allow you to control the positioning of the Fibonacci lines on your chart. Positive values shift the lines to the right, while negative values shift them to the left.
You also have the choice to plot the additional Fibonacci levels (0.114 and 0.886) via the "Plot 0.114 and 0.886 levels?" input. Similarly, the "Plot second set of levels?" input lets you decide whether to display the second set of Fibonacci levels derived from the shorter lookback period.
Like any technical analysis tool, this script is most effective when used in conjunction with other indicators and methods of analysis. It is designed to work well in trending markets, where Fibonacci retracements can often indicate potential reversal levels. However, it's always recommended to use a holistic approach to market analysis to maximize the likelihood of successful trades.
Note: the two lines drawn on the chart are there to help the user identify the levels from which the two respective Fib sequences are calculated.
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Input Explanations:
Long Period Pivot High/Low Lookback and Short Period Pivot High/Low Lookback : These settings determine the length of the lookback periods for the long-term and short-term pivot points, respectively. A pivot point is a technical analysis indicator used to determine the overall trend of the market over different time frames. The pivot points are then used to calculate the Fibonacci levels. A longer lookback period will identify pivot points over a broader time frame, capturing major market trends, while a shorter lookback period will identify pivot points over a narrower time frame, capturing more immediate market movements.
Long Period Fibonacci Level Shift and Short Period Fibonacci Level Shift : These inputs control the shift of the Fibonacci levels based on the long and short lookback periods, respectively. If you want to shift the Fibonacci levels to the right, increase the value. If you want to shift the Fibonacci levels to the left, decrease the value. This allows you to adjust the Fibonacci levels to better align with your analysis.
Long Period Fibonacci Level Extend and Short Period Fibonacci Level Extend : These inputs control the extension of the Fibonacci levels based on the long and short lookback periods, respectively. If you want the Fibonacci levels to extend further to the right, increase the value. If you want the Fibonacci levels to extend less to the right, decrease the value. This feature provides the flexibility to adjust the length of the Fibonacci levels according to your personal trading preferences and strategy.
Plot 0.114 and 0.886 levels? : This setting gives you the ability to plot the additional 0.114 and 0.886 Fibonacci levels. These levels provide extra depth to your analysis, particularly in highly volatile markets where they can act as significant support and resistance levels.
Plot second set of levels? : This input allows you to decide whether to plot the second set of Fibonacci levels based on the short lookback period. Displaying this second set of levels can provide a more granular view of market movements and potential reversal points, enhancing your overall analysis.
