buyer_seller_scalping_indicatorThis code is a custom script designed for analyzing trading volume within a specific time window on the TradingView platform. It offers a comprehensive analysis of buying and selling activity during a defined period and provides visual aids and data summaries for traders to make informed decisions. Here's a detailed breakdown of its functionality and how to use it:
1. Custom Time Period: The script starts by allowing you to specify a custom time period for analysis. In this example, it's set from 04:00 to 09:29. You can modify these time values to suit your specific trading needs.
2. Volume Calculation: The script calculates buying and selling volume based on price levels. It takes into account the open, high, low, and close prices to determine whether buying or selling pressure is dominant during the specified time frame.
3. Total Volume Calculation: It calculates the total volume within the custom time period. This can help you gauge the overall activity and liquidity during the chosen time window.
4. Visualizations: The script then plots visual elements on the chart:
- A volume histogram, which provides a graphical representation of the total volume during the time period.
- Buying and selling volume indicators, which are shown as circles on the chart, highlighting the relative strength of buyers and sellers.
- An average volume line, represented in gray, which helps you identify the average trading volume over a 50-period moving average.
5. Volume Type Determination: The script determines whether buyers or sellers dominate the market during the specified time period. It labels this as "Buyers Volume > Sellers Volume," "Sellers Volume > Buyers Volume," or "Buyers Volume = Sellers Volume." This information can be crucial for assessing market sentiment.
6. Percentage Breakdown: The script calculates the percentage of buying and selling volume in relation to the total volume, helping you understand the distribution of market participants. These percentages are displayed in a table.
7. Table Display: Finally, the script creates a table that displays the following information:
- The current volume type (buyers, sellers, or balanced), with corresponding text colors.
- The percentage of buyers and sellers in the market.
How to Use:
1. Copy the script and add it as a custom script on TradingView.
2. Apply the script to your desired financial chart.
3. Adjust the custom time period if needed.
4. Interpret the visual elements and table to gain insights into market sentiment and volume distribution during the specified time frame.
5. Use this information to inform your trading decisions and strategies, especially when trading within the chosen time window.
This script is a valuable tool for traders seeking to understand market dynamics and volume behavior during specific trading hours, ultimately aiding in more informed trading decisions.
Disclaimer:
The indicator provided herein is experimental and has not undergone comprehensive testing. Its usage is solely at your own risk.
The publisher assumes no responsibility for any trading decisions made based on the utilization of this indicator.
Komut dosyalarını "scalping" için ara
Support & Resistance PROHi Traders!
The Support & Resistance PRO
A simple and effective indicator that helped me a bunch!
This indicator will chart simple support and resistance zones on 2 time frames of your choice.
It uses a 30 day lookback period and will find the last high and low.
Each zone is built from the highest/lowest closure, and the highest/lowest wick, creating a liquid zone between the 2.
It is perfect for people trading support and resistance, watching key areas, scalping zones and much more!
*You can change the time frames you are looking at and the lookback period.
*The example in the picture is looking at the Daily and Weekly zones on BTC.
Double Supertrend HTF FilterDouble Supertrend HTF Filter: A Comprehensive Market Direction Tool
The Double Supertrend HTF Filter is an innovative tool designed for traders who seek a more holistic view of market trends. At its core, the indicator combines two Supertrends from different higher timeframes, providing a layered perspective on the market's direction. Instead of juggling between multiple timeframes or charts, traders get a consolidated view with this indicator. One of its standout features is the horizontal line at the bottom of the chart, which visually represents the alignment of the two Supertrends – a simple yet powerful way to gauge the combined sentiment of the two higher timeframes on your chart.
The Supertrend Indicator: Origins and Rationale
The Supertrend indicator, a popular tool among traders, was developed by Olivier Seban. At its essence, the Supertrend is a trend-following indicator, designed to identify and visualize the current market trend. It operates using average true range (ATR) values and price data, effectively smoothing out market noise to present clearer trend directions. When prices move with a consistent momentum upwards or downwards, the Supertrend remains below or above the price respectively, signaling the prevailing trend's direction. The rationale behind the Supertrend is its ability to adapt to price volatility. By factoring in the average true range, it dynamically adjusts itself, ensuring that it's not just based on price but also the inherent volatility of the market. This adaptability makes it a valuable tool for traders, offering insights into potential trend reversals and potential entry or exit points.
Filter Usage
The main idea behind the Double Supertrend HTF is to use the indicator as a filter in addition to a signal indicator to your liking. To illustrate, consider incorporating it with a MACD Oscillator, such as the one detailed in this article: When the solid line at the bottom of the chart turns green, it signals that both supertrends are up and thus allows for long positions, indicating a bullish sentiment across both the chosen higher timeframes. Conversely, a red line permits short positions, hinting at a bearish trend. Should the line turn yellow, it's a sign of caution. The market is indecisive, and it might be prudent to refrain from taking any trades until a clearer direction emerges.
Features of the Indicator
Understanding that traders have different preferences, the Double Supertrend HTF Filter comes with customizable features. With the easy user interface you can change the timeframe, ATR and factor to your preferred trading strategy. The default settings are set for the 30 minutes and 4 hour timeframe, which is my personal preference for scalping trades on lower timeframes (eg. 1min, 5 min, 10 min, 15 min). While the dual Supertrend lines offer valuable insights, a chart can become cluttered when combined with other indicators. Therefore, traders have the option to toggle on or off the display of the Supertrends. This ensures that you have the flexibility to maintain a clean chart view while still benefiting from the insights the tool provides at the bottom of the chart.
A Note on Usage
It's essential to highlight that the Double Supertrend HTF Filter is for educational purposes. While it offers a unique perspective on market trends and can be a valuable addition to a trader's toolkit, it's merely an example of how one can use the Supertrend as a filter. Always conduct thorough research and consider your trading strategy before making any decisions.
If you have any comments or ideas how to combine this filter with other indicators feel free to leave a comment.
Key Levels (Daily Percentages)OVERVIEW
This indicator automatically identifies and progressively draws daily percentage levels, normalized to the first market bar.
Percentages are one of the most common ways to measure price movement (outside price itself). Being able to visually reference these levels helps contextualize price action, in addition to giving us a glimpse into how algos might "see" the market.
This script is most useful on charts with smaller time frames (1 to 5 minutes). This is not ideal for medium or larger time frames (greater than 5 minutes).
INPUTS
You can configure:
• Line size, style, colors and maximum length
• Label colors and visibility
• Fractional and intra level visibility
• Bidirectional zone parameters (custom range and extended anomalies)
• Normalization source
• Price Proximity features
• Market Hours and Time Zone
INSPIRATION
Broad Assumptions:
• +/- 70% of days move 1%, 20% of days move 1-2%, and 10% of days have moves exceeding 2%.
• +/- 10-20% of days trend, with moves ≥ 1%.
• All trading strategies are effectively scalping, mean reversion, or trend.
• Humans program algos to capitalize on these assumptions, using percentages to mange / execute trades.
Fibo Levels with Volume Profile and Targets [ChartPrime]The Fib Levels With Volume Profile and Targets (FIVP) is a trading tool designed to provide traders with a unique understanding of price movement and trading volume through the lens of Fibonacci levels. This dynamic indicator merges the concepts of Fibonacci retracement levels with trading volume analytics to offer predictive insights into potential price trajectories.
Features:
1. Fibonacci Levels: The FPI showcases three prominent Fibonacci levels on both sides of the current price, offering an intricate picture of potential support and resistance levels.
2. Support and Resistance Recognition: Harnessing the power of Fibonacci levels, the FPI provides traders with potential areas of support and resistance, aiding in informed decision-making for entries, exits, and stop placements.
3. Customizable Timeframe Settings: In order to cater to different trading strategies and styles, users can manually select their preferred timeframe for the Fibonacci calculations, ensuring optimal relevance and accuracy for their trading approach.
4. Volume Analytics: One of the standout features of the FIVP is its ability to calculate trading volume for every bar that is sandwiched between the top and lower Fibonacci levels. This ensures traders have a clear vision of where the majority of trading activity is occurring, lending weight to the credibility of the displayed support and resistance zones.
5. Volume-Derived Price Targeting: The Possible Target Arrow function is an innovative feature. By analyzing and comparing the trading volume in the bearish and bullish zones, it provides an arrow indicating the potential direction the market might take. If the bull volume surpasses the bear volume, the market is likely skewing bullish and vice versa.
Usage
Ideal for both novice and seasoned traders, the FPI offers a rich tapestry of information. It allows for refined technical analysis, more precise entries and exits, and a holistic view of the interplay between price and trading volume. Whether you're scalping, day trading, or swing trading, the Fibonacci Profile Indicator is designed to enhance your trading strategy, providing a comprehensive perspective of the market's potential movements.
RenkoIndicatorIntroduction:
The Renko Indicator is a powerful tool designed to help traders identify trends and potential trade opportunities in the financial markets. This indicator overlays a Renko chart on the main price chart and generates Buy and Sell signals based on Renko brick movements. Renko charts are unique in that they focus solely on price movements, ignoring the element of time. In this guide, we will walk you through how to use the Renko Indicator effectively in your trading strategy.
Indicator Components:
The Renko Indicator consists of several components, each serving a specific purpose in aiding your trading decisions.
Market Sentiment Calculation:
At the top of the script, the indicator calculates market sentiment by analyzing recent price action. It determines whether the market sentiment is Bullish, Bearish, or Neutral based on the highest and lowest prices within specific time periods. This information provides you with a broader context for potential trading decisions.
Renko Chart Creation:
The indicator creates a Renko chart overlay on the main price chart using the Average True Range (ATR) method. ATR is used to calculate the brick size for the Renko chart, allowing you to adjust the sensitivity of the chart to price movements.
Renko Open and Close Midpoint:
The script plots the midpoint of Renko open and close prices as a line on the main chart. This visualization helps you understand the direction of Renko bricks and identify trends.
Buy and Sell Signal Generation:
The script generates Buy and Sell signals as label shapes on the chart. A Buy signal is generated when the Renko close price crosses above the Renko open price, indicating potential upward momentum. Conversely, a Sell signal is generated when the Renko close price crosses below the Renko open price, suggesting potential downward momentum.
Alert Conditions:
To ensure you never miss a trading opportunity, the script sets up alert conditions for Buy and Sell signals. These alerts notify you when the specified conditions for potential trades are met. Alerts can be customized to your preference, allowing you to receive notifications via your chosen communication channels.
How to Use the Renko Indicator:
Market Sentiment Analysis:
Start by analyzing the calculated market sentiment. This information helps you understand the broader trend in the market. A Bullish sentiment indicates potential upward movement, a Bearish sentiment suggests potential downward movement, and a Neutral sentiment signals uncertainty.
Renko Chart Interpretation:
Observe the Renko chart overlay and its midpoint line. Upward-trending Renko bricks suggest Bullish momentum, while downward-trending bricks indicate Bearish momentum. Use the Renko chart to identify trends and confirm your trading bias.
Buy and Sell Signals:
Pay close attention to the Buy and Sell signals generated by the indicator. A Buy signal occurs when the Renko close price crosses above the Renko open price. Conversely, a Sell signal occurs when the Renko close price crosses below the Renko open price. These signals highlight potential entry points for trades.
Alert Notifications:
Make use of the alert conditions to receive real-time notifications for Buy and Sell signals. Alerts help you stay informed even when you're not actively watching the charts, allowing you to promptly take action on potential trade opportunities.
Risk Management and Considerations:
Confirmation: While the Renko Indicator provides valuable insights, it's crucial to use it in conjunction with other technical and fundamental analysis tools for confirmation.
Backtesting: Before implementing the indicator in live trading, conduct thorough backtesting on historical data to assess its performance and suitability for your trading strategy.
Position Sizing: Determine appropriate position sizes based on your risk tolerance and the signals provided by the indicator. Avoid overleveraging your trades.
Market Conditions: Be mindful of market conditions and news events that could impact price movements. Use the Renko Indicator as a tool to enhance your decision-making process, not as a standalone strategy.
Conclusion:
The Renko Indicator offers a unique perspective on price movements and can be a valuable addition to your trading toolkit. By analyzing market sentiment, interpreting Renko chart patterns, and acting on Buy and Sell signals, you can make informed trading decisions. Remember to practice proper risk management and integrate the Renko Indicator into a comprehensive trading strategy to achieve consistent and successful trading outcomes.
[FC] Multi EMA Cross Alerts Fltered with RSI and StochThis script prints Green Dots and Red Dots on candle close using Faster EMA ( 5 ) and Slower EMA (10 ) filtering with RSI (50)+ Stochastic %K ( 20 to 80 ) Smoothning(3).
The idea behind is to you use dots for scalping on smaller timeframe(5) ,(10) etc but you can modify all values to better fit your needs.
Explaination for Green Dots and Red Dots:
---> Green dot : 5 Ema crosses above 10 Ema ( i.e faster EMA crosses above slower EMA which signals price is trying to move up
RSI value > 50 (filtering for quick move)
stoch %k value between 20 and 80 ( filtering to know there is leg left in the move and all movement is already not done)
---> Red dot : 5 Ema crosses below 10 Ema ( i.e faster EMA crosses above slower EMA which signals price is trying to move down
RSI value < 50 (filtering for quick move)
stoch %k value between 20 and 80 ( filtering to know there is leg left in the move and all movement is already not done)
OSPL Volume [Community Edition]NSE:BANKNIFTY1!
This indicator is based on the concepts popularized by @OptionsScalper123 "Siva" of OiPulse. His ideology Is that large moves come after high volume candles. For Nifty, high volume is considered to be a candle above 125k volume and for BankNifty it’s 50k.
This indicator allows you to cut the noise and focus only on the high volume candle. It shows high volume candle in a brighter shade and lower volume candles in a less visible shade.
You can set the minimum volume threshold limit for Nifty and BankNifty. The indicator smartly recognizes which index you are using it in and uses the respective threshold volume limit.
All colors are customizable.
Thanks for Siva for all the ideas and wonderful products he has given to the community
Thanks to all the wonderful Pinescipters for developing awesome indicators and keeping the source open.
The source code of this indicator is just a few lines. Hope you can use it in your projects and learn something from this just how I learned from other scripts.
Any changes or updates needed in this indicator, please suggest. I was thinking some kind of alerts can be added when volume crosses the threshold. Let me know.
Boost/like this indicator and comment if you find this useful. Cheers and happy trading!!!
Scalp Pump-Dump Detector with AlertsThis script displays the percentage of movement of all candles on the chart, as well as identifying abnormal movements to which you can attach alerts. An abnormal movement is considered a rise or fall that exceeds the parameter set in the settings (by default, 1% per 1 bar).
Added a function to display the volume on abnormal candlesticks.
Trading Session TemplateDescription:
The Trading Session Template Indicator is a powerful script that allows traders to customize their own trading session time range on a chart. With this indicator, you have the flexibility to define specific hours during which you prefer to focus your trading activities. The example chart showcases the New York session hours, but you can easily adapt it to any desired time range based on your trading strategy and preferences.
Key Features:
Customizable Trading Session: The indicator empowers you to define your own trading session time range, tailored to your preferred market sessions or specific trading hours. This flexibility ensures that the indicator aligns with your unique trading strategy.
Highlighted Trading Session: When a new trading day begins, the script automatically scans for the specified time range. Once the first candle within the range begins printing, the background color of the chart is highlighted, indicating the beginning of the trading session. When the last candle within the range is closed, the background color returns to normal.
Focus on Specific Market Sessions: This indicator is particularly useful for traders who prefer to trade certain market sessions or specific hours during the day. By customizing the trading session, you can better align your trading activities with specific market conditions and trading opportunities.
Candle Pattern Detection: The indicator includes the ability to detect candle patterns such as Doji, Engulfing, Hammer, and Shooting Star. You can activate the desired candle patterns and set up alerts for them. When an alert is triggered, indicating the formation of a specific candle pattern, you can further analyze the market and make informed trading decisions.
ATR Filter: The indicator offers an ATR (Average True Range) filter to limit noise and focus on candle patterns with a size comparable to the ATR. You can set a minimum and maximum size for a candle compared to the ATR. This helps you filter out smaller or larger candles that may not align with your trading preferences.
Stop Loss (SL) and Take Profit (TP) Levels: When a candle pattern is detected, based on the ATR, the indicator can display suggested Stop Loss and Take Profit levels. This feature provides additional guidance for risk management and potential profit targets.
User-Friendly Interface: The indicator provides a user-friendly interface with adjustable settings and switches for customization. Tooltips are available to guide you through the various options and configurations, making it easy to adapt the indicator to your trading style and preferences.
Note:
The Trading Session Template Indicator is designed for timeframes lower than 1D. It does not plot any information on timeframes of 1D and higher.
Disclaimer:
The Trading Session Template Indicator is provided for informational and educational purposes only. Trading in the financial markets involves risk, and you should only trade with funds that you can afford to lose. The indicator's past performance is not indicative of future results. Always conduct your own research and due diligence before making any investment decisions. The creator of this indicator shall not be held responsible for any losses or damages incurred from the use of this indicator.
AFRHi everyone! Sorry for not posting anything for so long again. I will be active in July, after passing my university exams. I bought some S&C magazine archives, so await my new post strategies and indicator in July, as things are gonna get real interesting! But for now let me hand you some new and interesting stuff — AFR indicator.
Actually, this is my third time republishing this indicator after a big timeout because of the battles with TV mods on reference politics (which I lost).
This is indicator was originaly made by some user from other trading website, which I can't mention because of TV reference politics.
Which principles are behind AFR?
First we define our own low and high (OL and OH respectively), which are equal to:
OL = open - ATR * ATR_Factor
OH = open + ATR * ATR_Factor,
where ATR — Average True Range,
ATR_Factor — "Factor" in the settings — multiplier for ATR.
On each tick we remember AFR's value from previous bar, if it is not 0.
When OL is greater then AFR, then AFR is equal to OL. It means that there is probably an uptrend, so we adjust AFR accordingly.
When OH is lower then AFR, then AFR is equal to OH. It means that there is probably a downtrend, so we adjust AFR accordingly.
How to use?
Green AFR — bullish trend.
Red AFR — bearish trend.
Green AFR's triangle up — buy signal — appears when AFR changes it's colour from red to green.
Red AFR's triangle down— sell signal — appears when AFR changes it's colour from green to red.
ALERTS INCLUDED!
My personal ecommendations
- You can AFR as a tool to find short-term and middle-term trends, as it does it's best to find such trends;
- If are a scalper, then you probably should try AFR on low factor settings, as AFR alone can find good scalping entries.
- As AFR is a trend indicator, please use it with other confirmation indicator to make better entries.
Hope you will find this script useful.
Take your profits!
- Tarasenko Fyodor
Scalp Tool
This script is primarily intended as a scalping tool.
The theory of the tool is based on the fact that the price always returns to its mean.
Elements used:
1. VWMA as a moving average. VWMA is calculated once based on source close and once based on source open.
2. the bands are not calculated like the Bollinger Band, but only a settlement is calculated for the lower bands based on the Lows and for the upper bands based on the Highs. Thus the bands do not become thicker or thinner, but remain in the same measure to the mean value above or below the price.
3. a volume filter on simple calculation of a MA with deviation. Therefore, it can be identified if a volume breakout has occurred.
4. support and resistance zones which are calculated based on the highs and lows over a certain length.
5. RSI to determine oversold and overbought zones. It also tries to capture the momentum by using a moving average (variable selectable) to filter the signals. The theory is that in an uptrend the RSI does not go below 50 and in a downtrend it does not go above 50.
However, this can be very different depending on the financial instrument.
Explanation of the signals:
The main signal in this indicator Serves for pure short-term trading and is generated purely on the basis of the bands and the RSI.
Only the first bands are taken into account.
Buy signal is generated when the price opens below the lower band 1 and closes above the lower band 1 or the RSI crosses a value of 25 from bottom to top.
Sell signal is generated when the price opens above the Upper Band 1 and closes below the Upper Band 1 or the RSI crosses a value of 75 from top to bottom.
The position should be closed when the price hits the opposite band. Alternatively, it can also be closed at the mean.
Other side signals:
1. breakouts:
The indicator includes 2 support and resistance zones, which differ only in length. For the breakout signals, the short version of the R/S is used. A signal is generated when the price breaks through the zones with increased volume. It is then assumed that the price will continue to follow the breakout.
The values of the S/R are adjustable and marked with "BK".
The value under Threshold 2 defines the volume breakout. 4 is considered as the highest value. The smaller the value, the smaller the volume must be during a breakout.
2. bounce
If the price hits a S/R (here the long variant is used with the designation "Support" or "Resistance") and makes a wick with small volume, the script assumes a bounce and generates a Sell or Buy signal accordingly.
The volume can be defined under "Threshold".
The S/R according to the designation as well.
Combined signals:
If the value of the S/R BK and the S/R is the same and the bounce logic of the S/R BK applies and an RSI signal is also generated, a signal is also plotted.
Here the idea was to get very strong signals for possible swing entries.
4. RSI Signals
The script contains two RSI.
RSI 1:
Bullish signal is generated when the set value is crossed from the bottom to the top.
Bearish signal is generated when the set value is crossed from the top to the bottom.
RSI 2:
Bullish signal is generated when the set value is crossed from the top to the bottom.
Bearish signal is generated when the set value is crossed from bottom to top.
For RSI 2 the theory is taken into account according to the description under Used elements point 5
Optical trend filter:
Also an optical trend filter was generated which fills the bands accordingly.
For this the VWMA is used and the two average values of the band.
Color definition:
Gray = Neutral
Red = Bearish
Green = Bullish
If the mean value is above the VWMA and the mean value based on the closing price is above the mean value based on the open price, the band is colored green. It is a bullish trend
If the mean value is below the VWMA and the mean value based on the closing price is below the mean value based on the open price, the band is colored red.
The band is colored gray if the mean value is correspondingly opposite. A sideways phase is assumed.
The script was developed on the basis of the pair BTCUSD in the 15 minute chart and the settings were defined accordingly on it. The display of S/R for forex pairs does not work correctly and should be hidden. The logic works anyway.
When using the script, all options should first be set accordingly to the asset and tested before trading afterwards. It applies of course also here that there is no 100% guarantee.
Also, a strong breakout leads to false signals and overheating of the indicator.
Buy Sell using 5-8-13 EMA, RSI, PSAR IndicatorThis indicator generates Scalping and Strong Buy/Sell Signals.
Quick Scalp signals are generated using 5 EMA and RSI.
Strong Buy/Sell Signals are generated using combination of 5-8-13 EMA and Parabolic SAR.
Signals generated:
QB: Quick Buy
QS: Quick Sell
SB: Strong Buy
SS: Strong Sell
Autoregressive CloudHello,
I am releasing this indicator called the Autoregressive Cloud Indicator.
What it does:
The indicator performs an autoregression analysis on 3 price variables of a ticker, those being the High, the Low and the Close. It uses a 1-lag system and looks back at the previous close, high and low’s effect on the proceeding high, low and close. It then plots out the anticipated range for the ticker based on the autoregression analysis, as well as displays the lag-correlation (autocorrelation) in a table.
What is Autoregression analysis?
Autoregression is a modelling technique used to describe a time series based on its own past values. It assumes that the current value of a variable is a linear combination of its previous values and a random error term.
And what is autocorrelation?
Autocorrelation measures the correlation between a time series and its lagged values. It quantifies the degree to which the current value of a series is related to its past values at different lags, indicating any patterns or dependencies in the data over time. Autoregression and autocorrelation are closely related concepts used to analyze and model time series data.
So how does it work?
The indicator calculates autoregressive values for the close, high, and low prices of a security based on the specified lookback length (which is defaulted to 50). It then plots three sets of clouds representing the smoothed autoregressive values for each price component (done using the SMA function). The transparency of the clouds can be adjusted using the "Transparency" input. Additionally, the code includes a correlation table that displays the correlation coefficients between the lagged values of the close, high, and low prices. The table's position can be customized using the "Position" input.
The indicator defaults to the chart timeframe; however, you can manually adjust the indicator to display the range for whatever timeframe you would like. You can view the 30 minute, 15 or even hourly range on the 1 minute or 5 minute chart if you want.
The indicator will show the anticipated “true trading range” of the stock based on the autoregression and autocorrelation of all 3 variables:
Above is SPY on the 5 minute timeframe with 15 minute levels overlayed. Here, you can see the anticipated trading range for that 15 minute time period.
Using the Correlation Table:
The correlation table displays the Pearson Coefficient for all 3 autoregressions.
A positive correlation: A positive autocorrelation indicates a positive relationship between past and current values of a time series variable. It suggests that when the variable has a high value at a certain time, it is more likely to have a high value in the future, and when it has a low value, it is more likely to have a low value in the future. This positive autocorrelation can imply persistence or trend in the data, indicating that past values can provide useful information for predicting future values. The rule of thumb is anything over 0.5 is considered significant.
A positive correlation among all 3 variables also indicates an uptrend. If you see a strong positive (i.e. the values are all greater than 0.8), it indicates an incredibly decisive and strong uptrend.
A negative correlation: A negative autocorrelation indicates an inverse relationship between past and current values of a time series variable. It suggests that when the variable has a high value at a certain time, it is more likely to have a low value in the future, and vice versa. This negative autocorrelation can imply mean reversion or oscillatory behavior in the data, where extreme values tend to be followed by values closer to the average. It indicates that past values can provide useful information for predicting future values by anticipating a reversal in the direction of the variable. The rule of thumb is anything below or equal to -0.5 is considered significant.
A negative correlation among all 3 variables also indicates a downtrend. If you see a strong negative (i.e. the values are all less than or equal to -0.8), it indicates an incredibly decisive and strong downtrend.
Uses of the Indicator:
The indicator can be used for the following functions:
1. Day trading and scalping within an expected range;
2. Determining the strength or weakness of an uptrend or downtrend on various timeframes;
3. Determining the relationship between previous values and past performance and its effect on future performance;
4. Can alert to changes in trend direction in advance (you may see high, low or close turn negative before others, signifying that weakness is beginning to materialize in an uptrend, or inverse in a downtrend (value changes positive)).
Customizability:
SMA: The autoregression data is smoothed by a 3 period lookback. You can change this if you want, but in order for the indicator to present the true trading range, it is recommended to leave it at <= 3.
Lookback Length: This is the length of the lookback period for the autoregression and autocorrelation functions.
Transparency settings: You can adjust the transparency of the clouds manually.
Timeframe: You can adjust the timeframe, as explained above, to display the timeframe of interest. When you adjust the timeframe, the data will all reflect that timeframe and not necessarily the current TF you have open (i.e. you select 30 minutes while viewing it on the 5 minute, it will show the data for the 30 minute TF period).
Video Tutorial:
I have prepared a video outlining the indicator and also explaining the theory of autoregression/correlation. You can find it below:
Let me know any comments, questions or suggestions below.
Thank you for taking the time to read/watch and check out this indicator.
Safe trades everyone!
Variance WindowsJust a quick trial at using statistical variance/standard deviation as an indicator. The general idea is that higher variance in the short term tends to indicate more volatility/movement. The other thing is that it can help set probabilistic boundaries for movements (e.g., if you set the bars to be 2 standard deviations, you are visualizing a range that denotes a 95% probability window).
I haven't really tried forming any sort of strategies around this indicator, but there are a few potential possibilities for its usability.
Generally speaking, the magnitude of the standard deviation (relative to the price) is small when the market is consolidating. It is larger when the market is trending up or own.
If the long term variance and the short-term variance are close to each other in scale, the trend is strong. Otherwise, the trend is weak. Note that I am only saying that the "trend" is strong , not that it is necessarily positive. this could be an up-trend, down-trend, or a sideways trend.
When the magnitudes of the variances are changing from very similar to very different (usually it's the long-term variance getting much larger than the short-term one), that's an indication that the previous trend is coming to an end.
Typically, it's the long-term variance that is bigger than the short-term. However, when you see them cross where the short-term is bigger or even much bigger than the long-term, it's indicative of a spike event (more often than not, one that is not favorable if you are holding any position on a given security).
Because you have probabilistic windows based on some n standard deviations from the midline (which in this version, I've used a ZLEMA as that midline), those boundaries could possibly be used to set stop-loss limits and the like.
There's nothing too complicated or deep about this particular indicator. All I'm really doing is assuming that we are dealing with a Gaussian random process. I am actually using EMA as my mean computation, even though for a proper Gaussian variance calculation, I should be using SMA. When I used SMA, though, it felt a lot more sensitive to noise, which made it feel less usable. In any case, it's just a simple first trial in many years after not having even looked at Pine Script to finally messing around with it again. Open to a litany of criticisms as I'm sure there will be many that are rightly deserved. Otherwise, happy scalping to thee.
Bollinger Bands - Breakout StrategyThe Bollinger Bands - Breakout Strategy is a trend-following optimized for short-term trading in the crypto market. This strategy employs the Bollinger Bands, a widely recognized technical indicator, as its primary instrument for pinpointing potential trades. It is capable of executing both long and short positions, depending on whether the market is in a spot or futures, and is particularly effective in trending markets.
The strategy boasts a high degree of configurability, allowing users to set the Bollinger Bands period and deviation, trend filter, volatility filter, trade direction filter, rate of change filter, and date filter. Furthermore, it offers options for Take Profit, Stop Loss, and Trailing Stop for both long and short positions, ensuring a comprehensive risk management approach. The inclusion of a maximum intraday loss feature adds another layer of protection, making this strategy a valuable tool for traders seeking a professional and adaptable trading system.
Name : Bollinger Bands - Breakout Strategy
Category : Trend Follower based on Bollinger Bands
Operating mode : Long and Short on Futures or Long on Spot
Trade duration : Intraday
Timeframe : 2H, 3H, 4H, 5H
Market : Crypto
Suggested usage : Trending Markets
Entry : When the price crosses above or below the Bollinger Bands
Exit : Opposite Cross or Profit target, Trailing stop or Stop loss
Configuration :
- Bollinger Bands period and deviation
- Trend Filter
- Volatility Filter
- Trade direction filter
- Rate of Change filter
- Date Filter (for backtesting purposes)
- Take Profit, Stop Loss and Trailing Stop for long and short positions
- Risk Management: Max Intraday Loss
Backtesting :
⁃ Exchange: BINANCE
⁃ Pair: BTCUSDT.P
⁃ Timeframe: 4H
⁃ Fee: 0.025%
⁃ Slippage: 1
- Initial Capital: 10000 USDT
- Position sizing: 10% of Equity
- Start : 2019-09-19 (Out Of Sample from 2022-12-23)
- Bar magnifier: on
Credits :
- LucF of Pine Coders for f_security function to avoid repainting using security.
- QuantNomad for Monthly Table.
Disclaimer : Risk Management is crucial, so adjust stop loss to your comfort level. A tight stop loss can help minimise potential losses. Use at your own risk.
How you or we can improve? Source code is open so share your ideas!
Leave a comment and smash the boost button!
Thanks for your attention, happy to support the TradingView community.
Stophunt WickAcknowledgement
This indicator is dedicated to my friend Alexandru who saved me from one of these liquidation raids which almost liquidated me.
Alexandru is one of the best scalpers out there and he always nails his entries at the tip of these wicks.
This inspired me to create this indicator.
What's a Liquidation Wick?
It's that fast stop-hunting wick that stophunts everyone by triggering their stop-loss and liquidation.
Liquidity is the lifeblood of stock market and liquidation is the process that moves price.
This indicator will identify when a liquidity pool is getting raided to trigger buy or sell stops, they are also know as stop-hunts.
How does it work?
When market consolidates in one direction, it builds up liquidity zones.
Market maker will break out of these consolidation phases by having dramatic price action to either pump or dump to raid these liquidity zones.
This is also called stop-hunts or liquidity raids. After that it will start reversing back to the opposite direction.
This is most noticeable by the length of the wick of a given candle in a very short amount of time and the total size of the candle.
This indicator highlights them accordingly.
Settings
Wick and Candle ratio works with default values but finetune will enhance user experience and usability.
Wick Ratio: Size of the wick compared to body of a candle.
Adjust this to higher ratio on smaller timeframe or smaller ratio on bigger timeframe to your trading style to spot a trend reversal.
Candle Ratio: The size of the candle, by default it is 0.75% of the current price.
For example, if BTC is at 20,000 then the size of the candle has to be minimum 150.
This can be fine tuned to bigger candle size on higher time frames or smaller for shorter timeframe depending on the trade type.
How to use it?
This indicator will identify when a liquidity pool is getting raided to trigger buy or sell stops, they are also know as stop-hunts. It can be used of its own for scalping but there are also a good few indicators which would most definitely help to confluence bigger timeframe trades.
Scalp
This indicator shows the most chaotic moments in price action; therefore it works best on smaller timeframes, ideally 3 or 5 minute candle.
- Wait for the market to start pumping or dumping.
- Current candle will change colour (Bullish/Bearish).
- Enter trade as soon as price starts to reverse back.
- Place the stop-loss outside of the current candle.
- Wait for the Liquidation Wick to appear as confirmation.
Price is very chaotic during a liquidity stop-hunt raid but there is a saying:
"In the midst of chaos, there is also opportunity" - Sun-Tzu
Since this is a very high risk, high reward strategy; it is advised to practice on paper trade first.
Practice until perfection and this indicator would be the perfect bread and butter scalp confirmation.
Fair Value Gap
FVG strategy is the most accurate in conjunction with this indicator.
Normally price would reverse after consuming fair value gaps but often it's difficult to know when and where.
This indicator would identify those crucial entry points for reverse course direction of the price action.
Support and Resistance
This indicator can also be used in conjunction with support and resistance lines.
Generally the stophunt will go deep below the support or spike much further up the resistance lines to liquidate positions.
Bollinger Bands
Bolling Bands strategy would be to wait until the price breaks out of the band.
Once the wick is formed, it would be an ideal entry point.
Script change
This is an open-source script and feel free to modify according to your need and to amplify your existing strategy.
Breaking Bar [5ema]I reused some functions, made by (i believe that):
@LeviathanCapital: Market Sessions.
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How to use?
More suitable for Scalping
1. Plan A: Break out the highest bar
Find the bar with the largest range (high – low) and high volume of the previous N bars.
When the price close breaks down to highest bar, give a SELL signal.
When the price close breaks up the highest, give a BUY signal.
2. Plan B: Break out the bar opened market
The price close breaks through the open bar, give a Buy and Sell signal.
Market sessions: Tokyo, London, Sydney, New York.
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How to set up?
Choose the plan.
Lookback bar to find highest bar.
Right bar: What position of signal will appear from the open market bar (or high bar).
Number break: The maximum bars have price close breaked before giving signal.
Session time: The open and close of market.
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
NSDT Fair Value GapThis script is our version of the "Fair Value Gap".
A Fair Value Gap is nothing more than a series of 3 candles with a gap between a candle high/low and a candle high/low two candles prior.
For example:
A Gap Up - the Low of a candle is higher than the High of two candles back.
A Gap Down - the High of a candle is lower than the Low of two candles back.
Typically, on a Gap Up, the trader would wait for the price to re-enter the Gap, and take a Long position.
Typically, on a Gap Down, the trader would wait for the price to re-enter the Gap, and take a Short position.
We found that simply trading through the Gaps (fill the gap) produced a better result. So we reversed the procedure and the colors to show our suggested direction.
We have added inputs so the trader can determine the size of the Gaps to be plotted on the chart. A minimum and maximum can be set.
The number of Gaps to be displayed can be adjusted.
There is a option to remove Gaps that had been filled, to help keep a clean chart.
Local Model Kalman Market ModeIntroduction
Heyo guys, I made a new (repainting) indicator called Local Model Kalman Market Mode.
I created it, because I wanted a reliable market mode filter for a potential mean-reversion strategy (e. g. BB Scalping).
On the screenshot you can see an example of how to use it in a BB strategy.
E.g. you would enter long when you have bullish divergence, price is under lower BB, price is under PoC and this indicator here shows range-bound market phase.
You would exit long on cross of the middle band.
Description
The indicator attempts to model the underlying market using different local models (i.e., trending, range-bound, and choppy) and combines them using the T3 Six Pole Kalman Filter to generate an overall estimate of the market.
The Fisher Transform is applied on the price to reach a Gaussian distribution, which increases the accuracy of the indicator itself.
The script first defines state variables for each local model, which include trend direction, trend strength, upper and lower bounds of the range, volatility of the range, level of choppiness, and strength of noise.
Then, likelihood functions are defined for each local model based on the state variables.
Next, the script calculates weights for each local model based on their likelihoods and uses them to calculate state variables for the overall estimate.
Finally, the script combines the state variables using the T3 Six Pole Kalman Filter to generate the overall estimate of the market, which is plotted in blue.
Fundamental Knowledge
To understand the explanation of the indicator and the script, there are a few fundamental concepts that you need to know:
Market: A market is a place where buyers and sellers come together to exchange goods or services.
In the context of trading, the market refers to the exchange where financial instruments such as stocks, currencies, and commodities are bought and sold.
Local models: Local models are statistical models that attempt to capture the characteristics of a particular market regime.
For example, a trending market may have different characteristics than a range-bound market or a choppy market.
The indicator uses different local models to capture the different market regimes.
Trend direction and strength: The trend direction refers to the direction in which the market is moving, either up or down.
The trend strength refers to the magnitude of the trend and how likely it is to continue.
Range-bound market: A range-bound market is a market where prices are trading within a specific range, with a clear upper and lower bound.
Choppiness: Choppiness refers to the degree of irregularity in price movements, often seen in sideways or range-bound markets.
Volatility: Volatility refers to the degree of variation in the price of an asset over time. High volatility implies larger price swings, while low volatility implies smaller price swings.
Kalman filter: A Kalman filter is a mathematical algorithm used to estimate an unknown variable from a series of noisy measurements.
In the context of the indicator, the Kalman filter is used to generate an overall estimate of the market by combining the local models.
T3 Six Pole Kalman Filter: The T3 Six Pole Kalman Filter is a specific type of Kalman filter that is used to smooth and filter time-series data, such as the price data of a financial instrument.
Fisher Transform: The Fisher Transform is a mathematical formula used to transform any probability distribution into a Gaussian normal distribution. It is commonly used in technical analysis to transform non-Gaussian indicators into ones that are more suitable for statistical analysis.
By understanding these fundamental concepts, you should have a basic understanding of how the indicator works and how it generates an overall estimate of the market.
Usage
You can use this indicator on every timeframe.
Users can customize the parameters of the T3 Six Pole Kalman Filter (T3 length, alpha, beta, gamma, and delta) using input functions.
Try out different parameter combinations and use the one you like most.
Thank you for checking this out. Leave me a comment or boost the script, when you wanna support me! 👌
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Credits to:
▪@HPotter - Fisher Transform
▪@loxx - T3
▪ChatGPT - Helped me to make the research for this indicator and helped to build the core algorithm.
WillyCycle Oscillator&DoubleMa/ErkOzi/version 2This oscillator can be customized by adjusting the length of the Willy period, the length of Willy's EMA, and the upper and lower bands. The upper and lower bands help traders identify overbought and oversold conditions.
The WillyCycle Oscillator is a technical analysis tool used to measure the momentum of an asset and identify overbought and oversold conditions based on the price range of a specific period and calculating the percentage of the closing price in that range. The WillyCycle Oscillator consists of two main components: Willy and Willy's EMA. The Willy component is the percentage calculation of the asset's price range, and Willy's EMA is the exponential moving average of the Willy component. Willy's EMA is used to smooth out the Willy component and make it easier to identify trends.
*** When the oscillator is above the 80 level, it indicates that the asset is overbought, and when it is below the 20 level, it indicates that the asset is oversold. Traders can use these levels as a guide for buying and selling signals.
***Traders can also use the WillyCycle Oscillator to identify trend reversals. When the oscillator rises above the 50 level, it signals a potential uptrend, and when it falls below the 50 level, it signals a potential downtrend.
***I have added a smoothed line option to the WillyCycle Oscillator, which allows traders to see a more smoothed version of the oscillator. This option can be enabled by setting the 'smoothed' input to true. The default value for the smoothed line is 15.
***We have also changed the value range of the WillyCycle Oscillator from -100 to 100 to 0 to 100. This change was made to make the oscillator more user-friendly and easier to read.
In conclusion, the WillyCycle Oscillator is a versatile tool that can help traders identify potential trading opportunities and trend reversals. Traders can customize the oscillator to fit their trading style and preferences. Adding a smoothed line and changing the value range can enhance the user experience and make the oscillator easier to use.
Traffic Light Signal - POSTraffic Light Signal (TLS) is simple and most easy setup to trade.
How The Traffic Light Signal Works ?
First You have to find a Green and red candle pair or red and green candle pair then mark there highest high and lowest low with the help of line tool. if High breaks go for Buy and when low breaks go Sell. Avoid Doji candle Pair to get better result.
Additonal Indicator Used :
Relative Strength Index : To find Overbought and Oversold Zones
How to Take trade with The help of TLS indicator :
The Indicator detects the Pair candle and detect whether the pair bar high or low cross over or cross under and display the signal over the chart.
if Triangle UP Shape Appears on chart , Once the high of the signal candle breaks take entry for buy side StopLoss will be low of the signal candle.
if Triangle Down Shape Appears on chart, once the low of the signal candle breaks take entry for Short side StopLoss will be low of the signal Candle.
Always Try to take profit 1:2 or as per your risk rewards.
Note :
if you are scalping then avoid first and Last Bar of day in 1 min and 3 min timeframe only
if you are Intraday Trader Use 5 Min and 15 Min max for this strategy.
if your are positional Trader use 1hr or 1 day Timeframe to trade.
No more than 3 trades to trade on this indicator.
Use Additional Indicator for Accuracy
Indicator works on Crypto , Equity , Futures , Options.
Hope you like this if any issue with this indicator ask below or message me.
Thanks and Regards,
TradingTail
ADD 2This is a modification to the original ADD script by Tom1trader
I added the option to choose the timeframe, moving average type and length.
Note from the original script:
"This is the NYSE Advancers - decliners which the SPX pretty much follows. You can chart it like any index (ADD -NYSE $ADV MINUS $DECL) but I find it more useful in a separate panel with colors for direction.
The level gives an idea of days move (example: plus or minus 500 is not much movement through the session) but I follow the direction as when more stocks advance (green) or decline (red) the index tends to track it pretty closely.
On SPX , SPY and correlates - very useful for intra-day trading (Scalping or 0DTE option trades) but not for higher time frames at all. If you chart the ADD in a chart and compare 5 minute to daily you will see what I mean."
