Breaker Blocks with Signals [LuxAlgo]The Breaker Blocks with Signals indicator aims to highlight a complete methodology based on breaker blocks. Breakout signals between the price and breaker blocks are highlighted and premium/discount swing levels are included to provide potential take profit/stop loss levels.
This script also includes alerts for each signal highlighted.
🔶 SETTINGS
🔹 Breaker Blocks
Length: Sensitivity of the detected swings used to construct breaker blocks. Higher values will return longer term breaker blocks.
Use only candle body: Only use the candle body when determining the maximum/minimum extremities of the order blocks.
Use 2 candles instead of 1: Use two candles to confirm the occurrence of a breaker block.
Stop at first break of center line: Do not highlight breakout signals after invalidation until reset.
🔹 PD Array
Only when E is in premium/discount zone: Only set breaker block if point E of wave ABCDE is within the corresponding zone.
Show premium discount zone: Show premium/discount zone.
Highlight Swing Break: Highlight occurrences of price breaking a previous swing level.
Show Swings/PD Arrays: Show swing levels/labels and pd areas.
🔶 USAGE
The Breaker Blocks with Signals indicator aims to provide users with a minimalistic display alongside optimal signals to be aware of for finding trade setups as shown below.
Here we can see a MSS occurred allowing the indicator to detect a Breaker Block (-BB) & display a red arrow to confirm this signal.
The signal(s) that can be used for potential entries are only during retests of the breaker blocks.
A potential strategy traders could use with this indicator is to target the corresponding Discount PD Arrays detected (for a short position) and Premium PD Arrays (for a long position).
In the image above we can see price generated the potential entry signals in orange & fell to the Discount PD Arrays as a logical setup to look for with this indicator.
As we can see in the image above, signals can be considered invalid when price closes above the 50% level in which it would be suggested to wait for another setup.
Users still looking for more potential setups based on the same breaker block can disable the "Stop at first break of center line" setting within the settings menu.
In the image above we can see a bullish example whereas price confirmed a bullish breaker block (+BB), had a quick pullback into it that was confirmed by the green arrow, and then reached the Premium PD Arrays.
While retests of breaker blocks can still function well if they occur later in the price action, it's most preferable for users to look for entry signals that are near confirmed breaker blocks (5-10 bars) opposed to waiting 20+ bars.
Additional take profits based on the occurence of the breaker blocks are given in order to provide targets after the occurence of a breaker block breakout.
🔶 DETAILS
Breaker blocks are formed after a mitigated order block, these can provide change of polarity opportunities, thus playing a role as a potential support/resistance. It is the re-test/retrace of price to a breaker block that will set the conditions to provide signals.
The above chart describes the creation of a breaker block.
The signal generation logic makes use of various rules described below:
Bullish Breaker Blocks:
opening price is within the breaker block, while the closing price is above the upper extremity of the breaker block.
Price did not cross the breaker block average in the interval since the previous breakout.
Bearish Breaker Blocks:
opening price is within the breaker block, while the closing price is below the lower extremity of the breaker block.
Price did not cross the breaker block average in the interval since the previous breakout.
When a new pattern is formed, all previous drawings are removed.
🔶 RELATED SCRIPTS
Komut dosyalarını "support resistance" için ara
Vector CandlesTitle: Vector Candles Indicator with PVSRA
Short Description: Visualize climax and above-average volume candles using PVSRA method for trend reversals and significant moves.
Long Description:
The Vector Candles Indicator with PVSRA (Price, Volume, Support, and Resistance Analysis) is designed to help traders visualize climax and above-average volume candles on the chart, which can indicate potential trend reversals and significant market moves. This indicator is suitable for various financial instruments, including stocks, forex, and cryptocurrencies.
This script uses the PVSRA method to determine the candle colour based on volume and price action. By analysing the relationships between price, volume, and support/resistance levels, it allows traders to better understand the market dynamics and make informed decisions.
The indicator displays candles in different colours to represent the volume and price action:
Climax Up (Lime): Bullish candle with high volume
Climax Down (Red): Bearish candle with high volume
Above Average Up (Blue): Bullish candle with above-average volume
Above Average Down (Fuchsia): Bearish candle with above-average volume
Normal Up (Gray): Bullish candle with normal volume
Normal Down (Dark Gray): Bearish candle with normal volume
The script is designed to work on the TradingView platform and is based on original contributions by plasmapug, infernix, peshocore, and xtech5192. It has been modified RapidFireOG for easy integration into your trading setup.
Add this powerful tool to your chart and enhance your trading analysis with the Vector Candles Indicator with PVSRA.
Extended Session High/Low - Intraday and daily chartsThis script plots the extended session highest high and lowest low levels. It works on any time frame from 1 minute to daily.
Please note that during the extended session, TradingView stops updating the daily chart. This means that once the script is loaded on a daily chart, it will not be updated until the market opens, unless you manually reload the layout (Ctrl+R). For this reason, it is recommended to use a multi-timeframe layout, so when the pre/post market line is near the extended session high/low on the daily chart, you can compare these values with those on an intraday chart of the same ticker.
The extended session high/low are important for day traders because they represent the maximum and minimum limits within which the trades have taken place during the extended trading hours. This can make them levels of support/resistance that can be useful for planning trend following, reversal and range-bound strategies.
By displaying the extended session high/low on the daily chart, traders can also see if there are any significant levels nearby that are related to the daily time frame, such as trendlines, support/resistance levels, or moving averages. This can help the trader evaluate whether there is enough room for a price movement in the direction of his trading strategy.
Volatility Percentile (H-LINES)A simple script that adjusts the Volatility Percentile Indicator visibly in order to better accommodate entries/exits and certain trading setups/strategies.
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TL;DR - Remember after a full reset, we are looking for initial crosses UP on the UpperSwingline and crosses DOWN on the LowerSwingline for primary and secondary signal derivation.
Vice versa also works great but the prior method mentioned is a little more consistent in my experience, but you should mess around and optimise this for your own setups and strategies anyway.
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ORIGINAL SCRIPT HERE:
^Click image for a redirect to that script.
ALL CREDIT GOES TO: www.tradingview.com
He wrote everything so give credit where it's due, good bit of kit this here script is.
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HOW I USE MY VISUALLY ALTERED VERSION OF THIS SCRIPT
First of all, the alterations I've made seem only to be consistently viable with renko charts though if you can get the sought after results using candles or any other chart type then perfect, but be wary. All my back-testing done only with LinReg, HMA and SWMA - ATR type settings exclusively on renko charts. The changes I've made to the original script essentially just turns it visibly into an oscillator and uses a couple horizontal lines to generate signals, very simple - absolutely nothing has changed in the actual code of calculating this indicator.
What I believe my adjustments have achieved is quite simple. A full reset/oscillation on the indicator tries to map the strongest parts of a move or at least the part of the move where volume and the rate of transactions is at its peak to even facilitate said move. *take this statement with a pinch of salt though I do believe it's interacting with accumulation/distribution patterns, which is expected of volatility*
For ease of communication let's refer to the area between the the first UpperSwingline cross to the subsequent LowerSwingline cross, as the primary move. Then afterwards when it crosses the UpperSwingline again to make the full reset, the area in between those two points referred to as the secondary move.
Though more interestingly/practically the indicator ends up giving you two signals. In order for this to work we have to first decide that a spike up in volatility which crosses the UpperSwingline implies a significant level of interest at that price level. Usually that means a reversal is brewing, if price has already moved, trended and is approaching a certain area of value; which causes a spike of new positions to be taken, then you know that this is a level where contrarians are looking to enter. Now here's the tricky part, when volatility crosses the LowerSwingline price action becomes a little more open for interpretation, the way I personally like to look at this secondary signal is the potential for an exhaustion period to prolong itself a little longer. I know that's not the perfect analysis for what's going on, a more in-depth look into what's going on would best be described using Elliott Wave Theory, if a cross on the UpperSwingline near a significant area of value gives us a reversal trade lets just assume for the sake of argument that a new Elliott Wave can begin forming here. Making the move from that initial UpperSwngline cross to the cross on the LowerSwingline, the area that encompasses those two points: the impulse wave. After this point my analogy kind of falls apart and sadly my knowledge just isn't what it needs to be in order for me to properly analyse what's going on here but I must digress. Price after crossing the LowerSwingline up until the point where it makes a full reset by crossing the UpperSwingline again, within this area price seems to do either one of two things:
Situation 1 - Most likely occurs after a major trend reversal from major support/resistance or area of value (price has trended to new territory, maybe spent time a little time consolidating but hasn't broken the key level, momentum shifts, price action breaks current structure and you get the signal that primary move is a reversal) = Exhaustion Period, price will continue in direction of primary move during the secondary move. This here is for our trend-followers, you wanna take a continuation trade? Just wait for the pullback/rally to hit a FiB retracement level and enter - or any other means to find a decent support/resistance to enter.
Situation 2 - Most likely occurs when market enters a range or consolidation (price was previously seen as being at either a discount or premium so Situation 1 could have already played out and now you're looking at a full reset after that, imagine this spot to be the centre line of a linear regression channel or bang in the middle of your range, could even occur if price breaks a key moving average and decides it ought to consolidate around it for a while. Basically at any point where a somewhat prolonged consolidation is expected and not a quick reversal) = Corrective Wave, price will move against the direction of primary move during the secondary move. Now you might be expecting me to say this ones for you reversal traders but not really, if this is occurring then there probably isn't a definitive direction the market has chosen so you can use this opportunity to take range trades in the direction or against the direction of whatever the current trend or latest trend was depending on whatever slight bias you may have. <--- Situation 2 is very useful for finding cleaner entries if you do have a trend bias, say price underwent Situation 1, is now at key moving average but your bias is that it will break and continue up, so you wait and allow the secondary move of Situation 2 to take your entry to a much better R:R before entering a position.
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Period OpenA very simple indicator that displays the Open of the specified Timeframe
How to use this indicator?
1. Directional Bias
Bullish => Closing Price > Period Open
Bearish => Closing Price < Period Open
2. Support / Resistance
Each Period Open can be used as Support or Resistance
3. Take Profit Targets
Each Period Open can be used as targets for taking profit
Three Bar Gap (Simple Price Action - with 1 line plot)This script is tailored towards experienced traders who prefer to view raw price charts during live execution. It searches for a three-bar pattern of what is colloquially called "fair value gap", or "imbalance" and uses a single line to plot the results. The goal is to display price in a way that is as simple as possible so that chart readers who don't prefer to add indicators on their screen will still find this indicator as an acceptable option to consider for.
From a code perspective, this script explores a new PineScript feature called UDT (user-defined types). This is an incredible update because it brings developers one step close to having the ability to create abstract data types.
█ What is price action?
Experienced traders will tell you that the chart that they use for live execution is raw, clean, and uses no indicators. They say they execute on price action, so what exactly is price action?
There is no formal definition to it, but one can agree that it implies the process of analyzing price without considering the fundamentals, without needing to know what the news was about, and without needing to know any of the Greeks (except for the desire to “seek alpha” Ha.haa...). This is not to say that price action traders are executing in their own vacuums without the need to know what is happening around the world. Surely fundamentals and financial models can be used beforehand for developing a bias for what is being traded, but it’s price-first at the moment of execution. That said, Factor (A) is Price.
Factor (B) is time-perception, it’s how the trader reads the tape. How the trader perceives price to change with respect to time is valuable information. Interpretation of "time" will be elaborated in the next section that talks about candlestick patterns detected by this script.
Putting this together, price action means the analysis of price movement by only considering (A) price, and (B) time, to predict which direction the market will move. A speculative trader is timing the market with the expectation to make a quick in-and-out profit; she/she is using price action. On the other hand, a long term investor holding a diversified portfolio with a strategy based on modern portfolio theory combined with fundamental analysis (at this point candlesticks are irrelevant) but has one additional criteria of, say, can only go Long on a stock when it has closed Green on Daily; he/she is also considered to be executing on price action.
█ Candlestick patterns
This script calculates the displacement of highs and lows over three consecutive bars.
A) Down move = When High of the recent confirmed bar is lower than the Low of the previous-previous candle
B) Up move = When Low of the recent confirmed bar is higher than the High of the previous-previous candle
(Note that its the confirmed bar that is being talked about, so it does not repaint)
An ATR filter will be applied to reduce the number of lines generated as many times they might just be associated with minor price changes.
Interpretations:
When price moves quickly across three bars, it can be thought that it has gapped. Although the candle in the middle appears to be solid, it’s not from a conceptual perspective. This is because time itself is arbitrary; timeframes don’t necessarily have to be fixed intervals. Take stocks with regular trading hours for example, if price makes a breakaway gap and you bundle the after-hours and pre-market sessions together as one candle, never minding that intervals should be fixed, then you will see the exact three-bar-gap patterns. Similar happens during intraday sessions on lower timeframes, if you zoom-in closer, you’ll see that ticks within the middle candle are sparsely dispersed. This is why it's called a gap.
█ Parameters with fixed inputs & assumptions used:
ATR is used for filtering out minor movements that will likely be deemed as irrelevant by trader for the purpose of live execution. The following inputs are required:
A) ATR lookback period
B) Multiplier
The product of ATR(len=A) and B produces a threshold for minimum distance that price must gap by. Initially, it was proposed to be only based on one ATR, but often an ATR is too wide and using it will filter out too many lines. Because of this observation, a multiplier (Parameter B) has been introduced to allow users to apply fractional ATR as a threshold.
█ Applications:
For trend followers: Follow the direction of the gap. Entering above recent high/low points above/below the first impulse with a stop-limit order is a viable tactic.
For contrarians fading a trend: The mid-point is a good point of reference for predicting potential areas of support/resistance.
Fibonacci Step IndicatorThe Fibonacci Step Indicator assumes irregularity in calculating a moving average. It is measured as the mean of the previous lows and highs situated at Fibonacci past periods. For example, the mean of the lows from 2, 3, 5, 8, etc. periods ago form the Fibonacci step indicator.
The indicator uses the formula for the first twelve Fibonacci numbers on highs and lows so that it creates a moving support/resistance zone. Afterwards, the zone is stabilized by taking the highest highs of the upper indicator and the lowest lows of the lower indicator part.
The indicator is used as a trend following way. It can be compared to the Ichimoku Kinko Hyo cloud (without the future projection). The zone form a support and resistance area. During ranging periods, the market will fluctuate within the area which is a bad time to follow the trend (if any).
FOREX MASTER PATTERN Value Lines by nnamThe Forex Master Pattern is form of technical analysis that provides a framework for spotting hidden price patterns that reveal the true movement of the market. The Forex Master Pattern Value Lines Indicator helps to identify this Phase 1 contraction of the Forex Master Pattern cycle.
HOW THIS INDICATOR WORKS
This indicator looks for a sustained contraction in price initially indicated by TWO contraction bars in a row, thus detecting a contraction point and a potential new master pattern origin point.
Once a contraction point is detected, a blue box will appear on the chart with a thick solid blue line projecting from its center. These are potential "Points of Origin" and "Value Lines" that institutional traders use to balance their books.
As shown above, when price begins to move (detected by engulfing and/or expansion candles), an Arrow is plotted to the chart identifying a possible expansion.
As shown above, previous Value Lines typically serve as future support / resistance points, however, due to the unique location of these lines, they are not typically identified as support or resistance levels on standard S/R indicators.
Color Coded Candles assist the user in quickly identifying contraction and expansion areas as well as trends away from the value-line. The expansion candles, Up/Down candles, and contraction BARS are all inspired by the STRAT (Rob Smith) and are specifically incorporated into this indicator to assist the user in finding potential reversals during the expansion phase. This helps to avoid the whiplash typically associated with the first phase of Forex Master Pattern.
USER DEFINED SETTINGS
- Line Settings Section -
#Max Lines to Show
This limits or extends the total number of lines shown on the chart. The Default is 12 (minimum is 1, maximum is 499).
#Show Lines on Chart
This setting turns all lines ON or OFF on the chart
#Show Value-Lines on Chart
This setting turns the Value Lines ON or OFF on the chart
#Set Value-Line Width
This setting sets the width of the value-line displayed on the chart
#Only show last value-line on the chart
This setting removes all but the most recent value-line from the chart
- Box Settings Section -
#Show Last Box Only
This setting turns OFF all previous boxes and only shows the most recent contraction box on the chart
- Expansion Area Settings Section -
#Show Expansion Area
This setting turns ON or OFF the expansion area fill
#Show Expansion Guidelines on Chart
This setting turns ON or OFF the guidelines that show the current direction of the price via an extended line.
- Candle Colors Section -
#Color Code the Candles
This setting turns on Color Coding for the Candles which changes the colors of each candle type:
1. Contraction Candle
2. Expansion Candle
3. Up Candle
4. Down Candle
5. Engulfing Candles (engulfing candles override other candle settings if turned ON)
- Engulfing Patterns Section -
#Show Engulfing Patterns
This setting turns ON or OFF engulfing candle plots globally
#Show Bullish Engulfing Candles
This setting allows the user to turn Bullish Engulfing signals ON or OFF
#Show Bearish Engulfing Candles
This setting allows the user to turn Bearish Engulfing signals ON or OFF
I hope you enjoy this indicator and that it provides some value. Please reach out to me with any suggestions or need training on the indicator.
Z-Score Buy and Sell SignalsHello everyone!
Happy Holidays, Merry/Happy Christmas!
Here is my Christmas gift to you to show my appreciation of your support and engagement over the past year!
This is the Z-Score Buy and Sell Signal indicator!
How it works:
It works by looking at the Z-Score of an equities close price and looking for previous areas over reversals over the defined period of time.
It also looks at areas that are overbought or oversold (manifested by Z-Scores greater than or less than 2 Standard Deviations away) and displays them as bar colour changes.
Historic reversals are signaled with buy and/or sell signals.
Oversold is signaled with a green bar colour change (colour can be customaized).
Overbought is signaled with an orange bar colour change.
How to use it:
You can use it with support resistance or other indicators. You can use this on both the larger and small timeframes, depending on the style of trader you are.
You can modify the input length to look back on shorter or longer periods.
As a general rule from my experience using it, if you are using the shorter timeframes (i.e. 1 minute tfs), its best to look back between 50 and 75 candles for most equities.
If you are looking at the larger timeframes (i.e. Daily, 1 to 2 hour, etc.) its best to set the input value to between 500 to 800.
But, as always, you should check to ensure the indicator is providing correct signals by reviewing the previous signals to ensure that they adequate identified reversals.
It is also best not to use this alone as your sole indicator. It is meant to be supplementary to other indicators/support resistance/chart patterns you are using to guide your trades. This will not replace good TA and a good understand of the stock and its likely trajectory.
As always, please feel free to share your comments/feedback/questions and recommendations below.
As always, I do customary tutorial videos for my indicators, so please see below for an in-depth video tutorial should you want to see it in action:
Otherwise, happy holidays everyone! And all of the best over this Christmas weekend to you and your loved ones!
Fixed Fibonacci Support ResistanceI took the formula of the fibonacci from LonesomeTheBlue and made this script. You can take a look at his indicator here:
When you first add the indicator on the chart, click on the chart to select the first date and then the second date. It will then calculate the fibonacci support and resistance of the range you choose. You can also choose the date inside the inputs.
Be sure the first date is before the second date, otherwise it won't be able to show the fibonacci. If that happen, choose a correct date in the inputs.
Donchian Trendline - Support Resistance Slope [UhoKang]// This is a strategy that draws a trend line in the form of a slope whenever the high point and low point are updated.
// The upper slope serves as a resistance line, and the lower slope serves as a support line.
// Buy when the of the candle crosses the slope
HH-LL ZZAnother ZigZag, yes...
I believe though this concerns another angle/principle, therefore I wanted to share
How does it work?
Given:
source for level breach -> close
X breaches -> 3
Let's say this is the latest found 'lower low' (LL - blue dot under bar):
This bar has been triggered because 3 bars closed under low of previous 'trigger bar' (TB )
The high and low of this new TB will act as triggers
(aqua blue lines, seen in image above)
Then there are 2 options:
- again 3 bars closes under the latest TB , in that case the TB moves to that new LL.
- 3 bars closes higher than the high of previous TB
The high and low of this new TB act again as trigger
If a new TB LL/HH is found, the script checks previous LL/HH
and searches the highest/lowest point in between.
If necessary, the temporary highest/lowest will be adjusted:
Another example:
The last 2 points can change (repaint).
Yellow coloured lines/labels are set and won't change anymore.
Concluded:
In case of these settings:
source for level breach -> close
X breaches -> 3
once a new TB is found, the high and low act as trigger lines
- when 3 bars closes under that low , a new LL is found, this will be the new TB
- when 3 bars closes above that high , a new HH is found, this will be the new TB
and so on...
Settings:
source for level breach -> close or high/low - H/L
X breaches -> 1 -> 10
line style -> solid, dotted, dashed
show level breaches -> new found TB (blue/lime coloured)
show Support/Resistance (lines at the right)
repaint warning can be removed
show labels / lines
This ZZ can be used for Harmonic patterns, Trend evaluation, support/resistance,...
In this script, I also used new features
- text_font_family = font.family_monospace -> link
- display=display.pane -> link
Cheers!
(E)Moving Average Ribbon High/LowThis is a slight modification of the standard Moving Average Ribbon. This script will take the 200 EMA and SMA with source the high and low, not the close.
This band will act as a support and resistance zone and should be used as a confluence with other indicators or support/resistance lines.
I got inspired to create this one, by the YT video "FINALLY! The 200 EMA Confluence Trading Strategy You’ve Been Waiting For" by The Secret Mindset.
In his video he takes only the 200EMA, but this script will take by default also the SMA into account.
In the settings you still can adapt as you wish ;-)
Happy trading!
SupportResitanceAndTrendLibrary "SupportResitanceAndTrend"
Contains utilities for finding key levels of support, resistance and direction of trend.
superTrendPlus(multiple, h, l, atr, closeBars)
A more flexible version of SuperTrend that allows for supplying the series used and sensitivity adjustment by confirming close bars.
Parameters:
multiple : The multiple to apply to the average true range.
h : The high values.
l : The low values.
atr : The average true range values.
closeBars : The number of bars to confirm a change in trend.
Returns:
superTrend(multiple, period, mode, closeBars)
superTrendPlus with simplified parameters.
Parameters:
multiple : The multiple to apply to the average true range.
period : The number of bars to measure.
mode : The type of moving average to use with the true range.
closeBars : The number of bars to confirm a change in trend.
Returns:
superTrendCleaned(multiple, period, mode, closeBars, maxDeviation)
superTrendPlus with default compensation for extreme volatility.
Parameters:
multiple : The multiple to apply to the average true range.
period : The number of bars to measure.
mode : The type of moving average to use with the true range.
closeBars : The number of bars to confirm a change in trend.
maxDeviation : The optional standard deviation level to use when cleaning the series. The default is the value of the provided level.
Returns:
stochSR()
Identifies support and resistance levels by when a stochastic RSI reverses.
Returns:
stochAVWAP()
Identifies anchored VWAP levels by when a stochastic RSI reverses.
Returns:
Regression Channel Trend DetectionThis is a regression channel that uses ichimoku to determine trend. The sensitivity is customizable. The centerline will change color according to the trend detected by ichimoku, and each line can act as support/resistance. The bands of the channel also change colors according to how far price is getting away from them. If you notice in this example, the lower band is turning orange when the price is getting too far away from it, suggesting that it may have risen too fast and too soon. This is still in testing so feel free to comment with any suggestions or fixes.
SSL HYBRID AdvancedSSL HYBRID Advanced
SSL Hybrid is an Advanced version of the default SSL Hybrid by Mihkel00.
Multiple Indicators
MACD Crossover Signals
EMA 200
Bollinger Band
Bollinger Band Squeeze
ADX Crossover and ADX level
CCI Over Brought /Sold
Stochastic Over Brought /Sold
RSI Over Brought /Sold
CREDITS
QQE MOD byMihkel00
SSL Hybrid by Mihkel00
Waddah Attar Explosion by shayankm
Support Resistance LonesomeTheBlue
Indicators On Chart
QQE MOD is plotted as Dot below and above the candle and also as Background
QQE line is plotted and can be used as crossover to find trend. Flat movement of QQE is Sideways
Weak ADX is plotted as a Background color. Same can be verified using Bollinger band Squeeze.
EMA crossover can be plotted by selecting MTF MA(multi time frame moving average indicator) Area plot is provided.
CCI , Stochastic, RSI signals provided in the table option
WAE (volume indicator ) is shown in Table
EMA 200 is plotted and color Represents ADX level and direction. Plots on EMA 200 are ADX crossovers
MACD crossovers are represented by Triangles above and below Candles
Support Resistance levels are plotted (change settings)
Pivot Points are plotted (change settings)
Bollinger Bands Plotted
EMA 20 and EMA 50 plotted with AREA for additional confirmation
Buy: When the table option shows completely Blue signals in all indicators
Sell: When the table option shows completely Pink signals in all indicators
WARNING not recommended for lower time frames. Use at your own Risk.
Updates will be released shortly if any. please provide your suggestions to make it more functional indicator.
Rolling VWAP with stdev█ OVERVIEW
Based on TradingView's Rolling VWAP (RVWAP) indicator, this indicator includes the option of plotting lines for the first and second standard deviations of the RVWAP, which some traders like to use for entry/exit decisions and support/resistance.
█ HOW TO USE
In the Style tab, use the checkboxes to enable or disable the plots. By default, the first standard deviation lines are enabled, but the second deviation lines are disabled.
█ THANKS
Thanks to TradingView for the original RVWAP code.
EMA/Session/ATR/LotSizeSeveral indicators combined
1. 6 Exponential Moving Averages - Identifying the trend direction or using EMAs as a dynamic support/resistance.
2. Session on Chart - Highlighting session for day trading. London, New York, Tokyo, and Sydney.
3. Average True Range - display the Average True Range on recent price to calculate the volatility.
4. Lot Size Calculator - to calculate lot size based on account balance, risk per trade, atr stop-loss, and art multiplier.
5. ATRX - ATRX is an indicator that gives the value of the (close price - EMA 27)/ATR (14)
It tells how strong the trend is compared to its volatility
According to AJ. BANK FTMO Trader Thailand, if the value of ATRX is between 2X-3X or -2X-3X, you should consider trading using climax zone on timeframe H1.
If the ATRX is more than 3X or less than -3X but does not exceed 4X or -4X, you should consider trading using timeframe M15 in the climax zone.
However, if the ATRX exceeds 4X or -4X, use M5 instead.
VIX Reversal Scalper by Trend Friend - Stocks OnlyVIX REVERSAL SCALPER BY TREND FRIEND - STOCKS ONLY
This indicator is built for scalping, but can be used for swing trades by adjusting the signal settings to a higher number.
This indicator is meant for stocks with a lot of price action and volatility, so for best results, use it on charts that move similar to the S&P 500 or other similar charts.
This indicator uses real time data from the stock market overall, so it should only be used on stocks and will only give a few signals during after hours. It does work ok for crypto, but will not give signals when the US stock market is closed.
**HOW TO USE**
When the VIX Volatility Index trend changes direction, it will give a bull or bear signal on the chart depending on which way the VIX is now trending. Follow these when price is near support/resistance or fibonacci levels.
For more signals with earlier entries, go into settings and reduce the number. 10-100 is best for scalping. For less signals with later entries, change the number to a higher value. Use 100-500 for swing trades. Can go higher for long swing trades.
***MARKETS***
This indicator should only be used on the US stock markets as signals are given based on the VIX volatility index which measures volatility of the US Stock Markets.
***TIMEFRAMES***
This indicator works on all time frames.
**NOTE**
Repainting does happen but it is seldom. If I get enough requests to remove repainting I will, but since it is built for early entries, preventing it from repainting will make the signals show up later than normal.
Due to various factors, this indicator might not give exit signals every time it should, so be sure to watch the price action for entries/exits and don't rely solely on this indicator.
**INVERSE CHARTS**
If you are using this on an inverse ETF and the signals are showing backwards, please comment with what chart it is and I will configure the indicator to give the correct signals. I have included over 50 inverse ETFs into the code to show the correct signals on inverse charts, but I'm sure there are some that I have missed so feel free to let me know and I will update the script with the requested tickers.
***TIPS***
Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our Auto Fibonacci, Directional Movement Index, Volume Profile, Auto Support And Resistance and Money Flow Index in combination with this Vix Reversal Scalper. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.
Mean Shift Pivot ClusteringCore Concepts
According to Jeff Greenblatt in his book "Breakthrough Strategies for Predicting Any Market", Fibonacci and Lucas sequences are observed repeated in the bar counts from local pivot highs/lows. They occur from high to high, low to high, high to low, or low to high. Essentially, this phenomenon is observed repeatedly from any pivot points on any time frame. Greenblatt combines this observation with Elliott Waves to predict the price and time reversals. However, I am no Elliottician so it was not easy for me to use this in a practical manner. I decided to only use the bar count projections and ignore the price. I projected a subset of Fibonacci and Lucas sequences along with the Fibonacci ratios from each pivot point. As expected, a projection from each pivot point resulted in a large set of plotted data and looks like a huge gong show of lines. Surprisingly, I did notice clusters and have observed those clusters to be fairly accurate.
Fibonacci Sequence: 1, 2, 3, 5, 8, 13, 21, 34...
Lucas Sequence: 2, 1, 3, 4, 7, 11, 18, 29, 47...
Fibonacci Ratios (converted to whole numbers): 23, 38, 50, 61, 78, 127, 161...
Light Bulb Moment
My eyes may suck at grouping the lines together but what about clustering algorithms? I chose to use a gimped version of Mean Shift because it doesn't require me to know in advance how many lines to expect like K-Means. Mean shift is computationally expensive and with Pinescript's 500ms timeout, I had to make due without the KDE. In other words, I skipped the weighting part but I may try to incorporate it in the future. The code is from Harrison Kinsley . He's a fantastic teacher!
Usage
Search Radius: how far apart should the bars be before they are excluded from the cluster? Try to stick with a figure between 1-5. Too large a figure will give meaningless results.
Pivot Offset: looks left and right X number of bars for a pivot. Same setting as the default TradingView pivot high/low script.
Show Lines Back: show historical predicted lines. (These can change)
Use this script in conjunction with Fibonacci price retracement/extension levels and/or other support/resistance levels. If it's no where near a support/resistance and there's a projected time pivot coming up, it's probably a fake out.
Notes
Re-painting is intended. When a new pivot is found, it will project out the Fib/Lucas sequences so the algorithm will run again with additional information.
The script is for informational and educational purposes only.
Do not use this indicator by itself to trade!
Rupesh Govardhane Support ResistanceWith this support and resistance indicator, if you want more levels just change the timeframe it looks at in the settings. It will pull the SR levels off the timeframe specified in the settings. Note: SR1 and SR2 timeframe should match.
Rupesh Govardhane Support ResistanceWith this support and resistance indicator, if you want more levels just change the timeframe it looks at in the settings. It will pull the SR levels off the timeframe specified in the settings. Note: SR1 and SR2 timeframe should match.
Bias Pivot PointA simple indicator that uses Pivot Points as a filter and to generate a Directional Bias .
How to use this indicator?
1. Directional Bias
Bullish => Closing Price > Pivot Point
Bearish => Closing Price < Pivot Point
2. Support / Resistance
Each Pivot Points can be used as Support or Resistance
3. Take Profit Targets
Each Pivot Points can be used as targets for taking profit
