Triple Bottom Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws triple bottom patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Triple Bottom and Triple Top Patterns
• Triple bottom patterns are composed of two peaks and three troughs, with the second and third troughs being roughly equal to the first trough.
• Triple top patterns are composed of two troughs and three peaks, with the second and third peaks being roughly equal to the first peak.
Measurement Tolerances
In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of triple bottom and triple top patterns to increase to the frequency of pattern occurrences.
For example, a perfect triple bottom is very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A ratio tolerance of 10% to both downside and upside, which is the default setting, means we would have a tolerable ratio measurement range between 90-110% for the second and third troughs as ratios of the first trough, thus increasing the frequency of occurrence.
█ FEATURES
Inputs
• Unbroken Peaks
• Lower Tolerance
• Upper Tolerance
• Pattern Color
• Neckline Color
• Extend Current Neckline
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Komut dosyalarını "top" için ara
Double Bottom Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws double bottom patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Double Bottom and Double Top Patterns
• Double bottom patterns are composed of one peak and two troughs, with the second trough being roughly equal to the first trough.
• Double top patterns are composed of one trough and two peaks, with the second peak being roughly equal to the first peak.
Measurement Tolerances
In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of double bottom and double top patterns to increase to the frequency of pattern occurrences.
For example, a perfect double bottom is very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A ratio tolerance of 10% to both downside and upside, which is the default setting, means we would have a tolerable ratio measurement range between 90-110% for the second trough, thus increasing the frequency of occurrence.
█ FEATURES
Inputs
• Unbroken Peaks
• Lower Tolerance
• Upper Tolerance
• Pattern Color
• Neckline Color
• Extend Current Neckline
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Range of a source displayed in thirdsThis indicator will take the value of any external source input and display how it has changed over time (the lookback period in settings). For the purposes of display here I'm using the WT1 line from Wavetrend with Crosses by LazyBear to provide a source input.
The highest and lowest value of the source over the lookback period are used to determine the highest and lowest point - the green and red lines at the top and bottom of the bands. This region is then mathematically split into three, such that the source (and its optional moving average line) can be defined as being in the top third, the middle or the bottom third.
Applications for this could be in risk management where you may wish to take on a larger position size when a certain indicator is in the top third, or decide that you want to enter / leave positions when the source crosses in / out of the extreme points.
Candle Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed candle scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
A green candle is one that closes with a high price equal to or above the price it opened.
A red candle is one that closes with a low price that is lower than the price it opened.
Upper Candle Trends
A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
█ FEATURES
Inputs
Start Date
End Date
Position
Text Size
Show Sample Period
Show Plots
Table
The table is colour coded, consists of three columns and twenty-two rows. Blue cells denote all candle scenarios, green cells denote green candle scenarios and red cells denote red candle scenarios.
The candle scenarios are listed in the first column with their corresponding total counts to the right, in the second column. The last row in column one, row twenty-two, displays the sample period which can be adjusted or hidden via indicator settings.
Rows two and three in the third column of the table display the total green and red candles as percentages of total candles. Rows four to nine in column three, coloured blue, display the corresponding candle scenarios as percentages of total candles. Rows ten to fifteen in column three, coloured green, display the corresponding candle scenarios as percentages of total green candles. And lastly, rows sixteen to twenty-one in column three, coloured red, display the corresponding candle scenarios as percentages of total red candles.
Plots
I have added plots as a visual aid to the various candle scenarios listed in the table. Green up-arrows denote higher high candles when above bar and higher low candles when below bar. Red down-arrows denote lower high candles when above bar and lower low candles when below bar. Similarly, blue diamonds when above bar denote double-top candles and when below bar denote double-bottom candles. These plots can also be hidden via indicator settings.
█ HOW TO USE
This indicator is intended for research purposes and strategy development. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe. It can, for example, give you an idea of any inherent biases such as a greater proportion of green candles to red. Or a greater proportion of higher low green candles to lower low green candles. Such information can be very useful when conducting top down analysis across multiple timeframes, or considering trailing stop loss methods.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
This is just the first and most basic in a series of indicators that can be used to study objective price action scenarios and develop a systematic approach to trading.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY, do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
Distance from the High/Low priceThis indicator shows how far the price is from the Top and Bottom over a set period of time.
The basic purpose of this indicator is to quickly compare how many symbols have risen over a certain period of time.
For example,
For example, let's say I want to see what the maximum increase is from the December, and how much it's currently down from there.
Then, let's set the "Length" to approximately 1500 and check it from December 18th.
So now you can see that bitcoin is up to about 44%, and it's down 6.9% from its peak.
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For the second example, let's say I want to see what the maximum increase in ALPHA is and how far it is currently from that maximum.
So, as you can see in the chart above, the maximum increase over the period was about 120%, and now it's down by 22.8%.
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In addition, if you check 'Retracement' in the indicator setting, you can see the ratio of the currently located returns based on Top and Bottom.
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이 지표는, 특정 기간동안 여러개의 symbol들이 얼마만큼의 상승을 했는지 빠르게 비교하기 위해 만들었습니다.
위에 첨부한 사진을 기준으로 말씀드리겠습니다.
2022년 12월 말부터 올라온 상승의 최대폭이 얼마인지, 그리고 그 최대 상승으로부터 현재 얼마나 떨어졌는지를 확인하고 싶은 상황이라고 하겠습니다.
그렇다면 'Length'를 대략 1500으로 설정하여 12월 18일부터 확인해보겠습니다.
그러면 비트코인은 최대 약 44%만큼 상승하였고, 현재 최고점으로부터 6.9% 떨어진 상황이라는 것을 확인할 수 있습니다.
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두 번째 예시로, ALPHA의 최대 상승폭이 얼마인지, 그리고 그 최댓값으로부터 현재 얼마만큼 떨어져 있는 상황인지를 확인하고 싶다고 가정해보겠습니다.
그렇다면 위의 차트에서 보이는 바와 같이, 해당 기간동안 최대 상승폭이 약 120%였고, 현재 그 최댓값으로부터 22.8%정도 하락한 상황이라는 것을 확인할 수 있습니다.
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번외로, 지표 설정에서 'Retracement'를 체크하시면, Top과 Bottom을 기준으로 현재 위치한 되돌림의 비율을 확인할 수 있습니다.
Gaps + Imbalances + Wicks (MTF) - By LeviathanThis script will identify and draw price gaps, wicks and imbalances with customizable fill conditions, multi-timeframe function, zone size filtering, volume comparison, lookback filtering, as well as highly customizable appearance and settings.
I’ve made this indicator to combine the three similar but different elements that occur in price movements and serve as significant zones of interest or way of PA interpretation in various different strategies.
Imbalances (or Fair Value Gap/FVG/Inefficiency/whatever)
- The Imbalance “pattern” consists of 3 candles (1- candle before the sharp move, 2 - sharp move candle and 3- candle after the sharp move). When price makes a move downwards, the imbalance zone is defined as the area between the low of 1 and the high of 3 When price makes a move upwards, the imbalance zone is defined as the area between the high of 1 and the low of 3.
Gaps
A price gap is an area on a chart where no trading activity has taken place. A gap up means that the low of the current candle is higher than the high of the previous candle and a gap down means that the high of the current candle is lower than the low of the previous candle.
Wicks (or shadows/tails/whatever)
Wicks are used to indicate where the price has fluctuated relative to the opening and closing price of the candle. An upper wick is the zone between candle high and candle close/open (whichever is higher) and a lower wick is the zone between candle’s low and candle’s close/open (whichever is lower).
Settings Overview
“Zone Type” - This input lets you decide which zones should the script plot and on which timeframe. You should always pick a timeframe higher than your chat’s.
“Middle Line, Top Line, Bottom Line” - Show or hide the Middle Line (horizontal level in the middle of each zone), Show or hide Top Line (horizontal level at the top of the zone), Show or hide Bottom Line (horizontal level at the bottom of the zone)
“UP/DOWN Zones" - This input lets you show/hide UP Zones or DOWN Zones an pick their color, border color and label color.
”Fill Condition” - If turned ON, the zones will end drawing when your prefered Fill Condition is met (Full Filll = price mitigates the whole zone, Half Fill = zone is at least halfway mitigated and Touch = zone is touched by price). If turned OFF, the zones will only be plotted for the amount of bars defined it “Zone Length”.
”Lookback (D)” - This input lets you limit the amount of zones plotted on the chart by choosing how many days back in time should the script go to find and plot zones. For example, input 1 will only show you the zones of the past day, input 7 will only show you the zones of the past week.
”Hide Filled Zones” - If turned ON, the zones that have been filled will be removed from the chart.
”Show Boxes” - Show or hide the boxes that represent the zones. This is useful for those who want the zones to be visualized by just lines.
“Filter Type” - this input lets you create a filter that will make the script only show zones that are larger than ATR or larger than a certain percentage. You can choose the ATR Length and the multiplier (higher multiplier → larger zone required), as well as the Percentage (%) and its multiplier (higher percentage → larger zone required). If you choose “None”, the zones of all sizes will be plotted.
”Zone Labels” - this part of the settings lets you: show/hide labels, decide on the size of the labels and their positions, choose a custom name for each zone, choose the data that the labels present (Type of the zone/Timeframe/ Volume ).
”Other settings” - ‘Stop/Delete zone after X number of candles’ will force stop/delete the zone if it’s plotted for more than prefered number of bars. ‘Line Style’ lets you choose the style and the color of the lines, ‘Zone Length’ defines the length of the zone if Fill Condition is “None”.
More settings, modifications and improvements coming in future updates. This script is a bit old so I will clean up and optimize the code once I have more time.
TOMMAR#TOMMAR #MultiMovingAverages #MMAR
Dear fellow traders, this is Tommy, and today I'd like to introduce you to the Multi-Moving Averages Ribbon (MMAR) indicator, which I believe to be one of the best MMAR indicators available on TradingView. Moving Averages is a popular technical analysis tool used to smooth out price data by creating an average of past price data points over a specified time period. They can be used to identify trends and provide a clearer view of price action, as well as generate buy and sell signals by observing crossovers between different moving average lines.
In the MMAR indicator, we have incorporated 12 different types of Moving Averages, including Simple Moving Averages (SMA), Exponential Moving Averages (EMA), Weighted Moving Averages (WMA), Hull Moving Averages (HMA), and Smoothed Moving Averages (SMMA), among others. This allows traders to choose the optimal type for their preferred trading commodities.
One common technique in technical analysis is using multiple Moving Averages with varying lengths, which provides a more comprehensive view of price action. By analyzing multiple Moving Averages with different timeframes, traders can better understand both short- and long-term trends and make more informed trading decisions. Some of the well-known combinations of multiple moving averages used by traders are (5, 9, 14, 21, 45), (6, 11, 16, 22, 51), [8, 13, 21, 55), (50, 100, 200), and (60, 120, 240).
Another way to gauge the strength of the market trend is to look for the arrangement of the Moving Averages. If they are in a sequential order, with the shortest on top and the longest on the bottom, it is most likely a bullish trend. On the other hand, if they are arranged in reverse order, with the shortest on the bottom and the longest on top, it is most likely a bearish trend. The 'Trend Light' in the indicator settings will automatically signal when the Moving Averages are in either an orderly or reverse arrangement.
Lastly, I have added a useful feature to the indicator: the 'MA Projection'. This feature projects and forecasts the Moving Averages in the future, allowing traders to easily identify confluence zones in future candlesticks. Please note that the projection levels may change in the case of extreme price action that significantly affects the Moving Averages.
This is free so any Tradingview users can use this indicator. Just search TOMMAR in the indicator section located on top of the chart.
#TOMMAR #MultiMovingAverages #MMAR
안녕하세요 트레이더 여러분, 토미입니다. 오늘 여러분들에게 소개드릴 지표는 다양한 길이의 이동평균선 조합을 사용할 수 있는 MMAR (Multiple Moving Averages Ribbon)입니다. 아마 제가 만든 MMAR 지표가 트레이딩뷰에서 가장 쓸만할 겁니다. 이동평균선, 줄여서 이평선은 말 그대로 특정 기간 범위 내의 주가들을 평균한 값들로 이루어진 선입니다. 제가 이평선 관련된 강의 자료는 예전에 올려드린 바 있으니 더 자세한 내용이 궁금하신 분들은 아래 링크/이미지 클릭하시길 바랍니다.
본 지표는 Simple Moving Averages (SMA), Exponential Moving Averages (EMA), Weighted Moving Averages (WMA), Hull Moving Averages (HMA), 그리고 Smoothed Moving Averages (SMMA) 등을 포함해 총 12개 종류의 이평선 지표를 사용할 수 있습니다. 또한 각 이평선의 길이들도 하나하나 일일이 설정하실 수 있습니다. 예를 들어 요즘에 자주 보이는 이평선들의 조합이 , , , , 그리고 등등이 존재하는데 여러분의 취향에 맞게 설정하여 사용하시면 됩니다.
몇 가지 주요 기능에 대해서 설명 드리겠습니다. 설정에서 ‘Trend Light’를 키면 이평선들의 정배열 혹은 역배열 여부를 쉽게 볼 수 있습니다. 이평선이 정배열일때는 맨 아래의 이평선에 초록불이, 역배열일때는 맨 위의 이평선에 빨간불이 켜지며 둘 다 아닐 땐 아무 불도 켜지지 않습니다. 또한 ‘MA Projection’을 키면 이평선들의 미래 예측 값들을 확장해줍니다. 당연히 가격 변동이 갑자기 크게 나오면 이평선 예측 확장 레벨들이 확 바뀌겠죠.
지표창에 TOMMAR 검색하시거나 아래 즐겨찾기 인디케이터에 넣기 클릭하시면 누구나 사용하실 수 있습니다~ 여러분의 구독, 좋아요, 댓글은 저에게 큰 힘이 됩니다.
Price Swing Detection - Smart Money ConceptSince my own style is Smart Money Concept and these days I have seen a lot of my friends who are having trouble identifying structures for their indicators and strategies. I wrote this code so they could use it in their strategy . In fact, this type of structure, as one of the strongest technical structures, can increase the success of your strategy according to your personalization.
The script detects swings (i.e. significant highs and lows) in a financial instrument's price action over a specified period. The user can set the lookback period (number of candles to consider) and the colors of the lines representing bullish and bearish trends.
The script has two functions: detectSwing and pivot high. The detectSwing function calculates the swing highs and lows for the specified number of candles. The function uses the ta.highest and ta.lowest functions to find the highest and lowest prices, respectively, over the lookback period. The function also determines the swing state (high or low) of the current candle and returns the calculated swing values.
The pivot high function calculates the pivot high, which is an important step in detecting bullish structures in the market. If a new top (i.e. swing high) is found, the script updates the pivot high values and creates a line from the recent top to the last bar. The script also updates the trailing maximum values, which are used to extend the top extension line.
For Strategy :
The variable "trendDirection" in the code is used to keep track of the trend state, either bullish (up trend) or bearish (down trend), in the market. The variable is initialized to 0 which represents a downtrend. The value of this variable is updated later in the code based on the calculations of swing highs and lows, pivot crosses, and the trailing maximum. If a bullish structure is detected, the value of "trendDirection" is set to 1, indicating an uptrend.
Balance of Force Day of the Week (BOFDW)The script is a custom technical indicator for TradingView that is based on an analysis of the price movements of a financial instrument over the course of a week. The indicator uses a variety of inputs, including the open and close prices for each day of the week, to determine the "BOF" (BOF) for each day.
The BOF is calculated based on the relative magnitude of bullish and bearish price movements and is then used to determine the average BOF over a moving window of data points. This average BOF is displayed on the chart as an overlay, providing a measure of the average bullishness or bearishness of the financial instrument over the course of a week.
The indicator also allows users to specify the location of the overlay on the chart and to customize the appearance of the overlay with options for text and box colors. The script provides a number of built-in options for chart position, including the top-left, top-middle, top-right, middle-left, middle-center, middle-right, bottom-left, bottom-middle, and bottom-right corners of the chart.
Overall, this custom technical indicator is a useful tool for traders and investors who are looking to gain a deeper understanding of the price trends of a financial instrument over the course of a week. By providing a clear and concise measure of the average POF over time, the indicator can help users identify key patterns in the market and make more informed trading decisions.
XYZ Super Fibonacci Channel Cluster
Simple setups
Just input two different ema, X and Y.
Multiple = input Phi factor (ex: 0.38 , 0.618 , 1.618 , 3.14)
Usage
Grouping movements into channels to identify trend acceleration and deceleration
Example usability in the BTC/USD trading pair (timeframe = 1D) =>
Input Setups
Source = hlc3
Multiplier = 2
X Ema = 13
Y Ema = 21
How to identify acceleration and deceleration?
H_1 to H_2 => Bullish but no acceleration (because at same top level border).
H_2 to H_3 => Bullish with acceleration (go up to another top level border).
H_3 to H_4 / H_4 to H_5 => Bullish deceleration (because drop to another top level border).
L_1 to L_2 => Bearish signal (because fall below EMA-super and touch the bottom border of Super Channel).
L_2 to L_3 => Bearish acceleration (drop to another bottom level border).
L_3 to L_4 => Bearish deceleration (go up to another bottom level border).
Volume Price Balance by serkany88This idea has been in my mind for a while. We all know how important volume is to technical analysis but volume and price itself doesn't mean much when volatility and momentum of the current trend is not taken into account. With this oscillator we try to combine all these factors into one indicator and provide a simplified interpretation of this relationship with spread analysis. This indicator can be used in all timeframes but higher timeframes like 1 hour and above will provide most stable results.
How it works?
This oscillator tries to analyze volume spread along with price spread based on wyckoff methods and attains certain "strength value" for each candle and it's relationship with the volume. After this calculation preferably we remove detected rejection candles from overall calculation and draw them as plots. The multipliers of the strengths can be changed from the settings.
Green Line Above Red Line = Bullish momentum stronger
Red Line Above Green Line = Bearish momentum stronger
Top circles mean possible bullish reversal candle detected. Gray is weak, White is normal and Red top circle means strong possible reversal detected.
Bottom circles mean possible bearish reversal candle detected. Gray is weak, White is normal and Green bottom circle means strong possible reversal detected.
Let's check the example below
As you can see we see a green dot appear in a somewhat weakening bullish momentum, this can mean possible reversal can happen soon and it does.
Below is a bearish example
In this example we see a possible strong reversal signal in a increasing bullish momentum and the price reacts immediately after the candle.
We also have a table that shows the current non-smoothed result of trend strength based on calculated price-volume spread at top right of the oscillator.
Stock Value EUThere are many method of measuring value of stock. However I'm proposing most basic stock valuation based on Book Value, Earnings , Dividends and Money Supply:
SV = (BVPS + EPS + DPS ) * ( M3 /M1)
BVPS = Book Value Per Share (Asset - Liability)
EPS = Earnings Per Share
DPS = Dividends Per Share
M3 = M3 Money Supply (Money Market)
M1 = M1 Money Supply (Base Money)
Fundamental value of a stock should be determine by it's BV which means total asset of a company if were liquidated today and use some of it's asset to pay of the debt. So technically BVPS is the intrinsic value of a stock. However the company is generating an earning which is profit and loss that should be added on top of the fundamental value of company, so thus EPS should be added on top of Book Value Per Share. Aside from earnings , the stock that you purchase give you dividends as your return so DPS also can be included on top of that. So all in all BVPS, EPS and DPS are the primary valuation of the stock. However most of the stock are traded way higher than their fundamental valuation. The main reason of this is the market dynamics which is driven by central banks printing of base money supply M0. The banking credit system then lend out this money to money markets as loan so that peoples can invest and by the company stock. This money supply extension of credit is known as money market M2 which drive the stock inflated price. The ratio between M2 and M0 are the money multiplier effect that drives the stock price higher than it's valuation. So the Stock Value should be the total number of BVPS + EPS + DPS times the M2 money multiplier as shown by this indicator.
If the stock are traded above their SV value, that means it's an overpriced bubble
If the stock are traded below their SV value, that means it's an underpriced burst
This indicator is only applicable for EU based stock chart, because we use EU money supply to do the money multiplier calculation. For other country stocks take a look our other indicator:
- Stock Value EU - applicable for European stocks
- Stock Value CN - applicable for Chinese stocks
- Valuation Rainbow - applicable for all countries
VFIBs AgreementVFIBs Agreement is a custom oscillator, using Volume Weighted Fibonacci Bands (VFIBs).
The two values in yellow and teal relate to the price action and where they fall in the Fibonacci Bands for the 50 and 200 VWMAs, respectively. These values are scaled logarithmically, making it so that the 7 period moving averages of the values tend to 'stick' to the top (just above 20) or bottom (just below -20). When the background color is deep red, this indicates that there is bullish momentum and likely a bull market. The inverse, in green, represents bearish momentum or a bear market. These colors correspond to the 200 period VFIB.
The bands of the VFIBs are broken down by fibonacci values as different channels, moving alongside the mid-line above and below. The price action will go between these values, showing where it is in the extremes. This is what VFIBs agreement represents.
In order for an uptrend to begin, the two VFIBs must 'agree'. With the 50 period VFIB trending up, it doesn't matter if it keeps getting rejected by the 200 period, as we can see with Bitcoin. When the 50 period VFIB starts to pull the 200 period up or down, it could indicate an imminent reversal.
This indicator works well with any market that you would use the VFIBs in. Mid and large cap stocks, top cryptocurrencies, and indices are my top choices.
Tweezer PatternsTweezer top and bottom, also known as tweezers, are reversal candlestick patterns
that signal a potential change in the price direction. Both formations consist of
two candles that occur at the end of a trend, which is in its dying stages.
The tweezer bottom candlestick pattern is a bullish reversal pattern that can be
spotted at the bottom of a downtrend. It consists of two candles, where the first
candle is in line with the bearish trend, while the second candle reflects more
bullish market sentiment as the price bursts higher, in the opposite trend.
The tweezer top candlestick pattern is of the same structure as the tweezer bottom,
except for the fact that it happens at the end of an uptrend, and therefore, it is a
bearish reversal pattern. The first candle is bullish, and it continues in the same
direction, while the second bearish candle indicates that the trend may be changing soon.
Both the bottom and top tweezers are only valid when they occur during uptrends and downtrends.
Their appearance during choppy trading conditions is practically meaningless, and it signals
the market indecision to move in either direction.
WARNING:
- For purpose educate only
- This script to change bars colors.
Extreme Trend Reversal Points [HeWhoMustNotBeNamed]Using moving average crossover for identifying the change in trend is very common. However, this method can give lots of false signals during the ranging markets. In this algorithm, we try to find the extreme trend by looking at fully aligned multi-level moving averages and only look at moving average crossover when market is in the extreme trend - either bullish or bearish. These points can mean long term downtrend or can also cause a small pullback before trend continuation. In this discussion, we will also check how to handle different scenarios.
🎲 Components
🎯 Recursive Multi Level Moving Averages
Multi level moving average here refers to applying moving average on top of base moving average on multiple levels. For example,
Level 1 SMA = SMA(source, length)
Level 2 SMA = SMA(Level 1 SMA, length)
Level 3 SMA = SMA(Level 2 SMA, length)
..
..
..
Level n SMA = SMA(Level (n-1) SMA, length)
In this script, user can select how many levels of moving averages need to be calculated. This is achieved through " recursive moving average " algorithm. Requirement for building such algorithm was initially raised by @loxx
While I was able to develop them in minimal code with the help of some of the existing libraries built on arrays and matrix , I also thought why not extend this to find something interesting.
Note that since we are using variable levels - we will not be able to plot all the levels of moving average. (This is because plotting cannot be done in the loop). Hence, we are using lines to display the latest moving average levels in front of the last candle. Lines are color coded in such a way that least numbered levels are greener and higher levels are redder.
🎯 Finding the trend and range
Strength of fully aligned moving average is calculated based on position of each level with respect to other levels.
For example, in a complete uptrend, we can find
source > L(1)MA > L(2)MA > L(3)MA ...... > L(n-1)MA > L(n)MA
Similarly in a complete downtrend, we can find
source < L(1)MA < L(2)MA < L(3)MA ...... < L(n-1)MA < L(n)MA
Hence, the strength of trend here is calculated based on relative positions of each levels. Due to this, value of strength can range from 0 to Level*(Level-1)/2
0 represents the complete downtrend
Level*(Level-1)/2 represents the complete uptrend.
Range and Extreme Range are calculated based on the percentile from median. The brackets are defined as per input parameters - Range Percentile and Extreme Range Percentile by using Percentile History as reference length.
Moving average plot is color coded to display the trend strength.
Green - Extreme Bullish
Lime - Bullish
Silver - range
Orange - Bearish
Red - Extreme Bearish
🎯 Finding the trend reversal
Possible trend reversals are when price crosses the moving average while in complete trend with all the moving averages fully aligned. Triangle marks are placed in such locations which can help observe the probable trend reversal points. But, there are possibilities of trend overriding these levels. An example of such thing, we can see here:
In order to overcome this problem, we can employ few techniques.
1. After the signal, wait for trend reversal (moving average plot color to turn silver) before placing your order.
2. Place stop orders on immediate pivot levels or support resistance points instead of opening market order. This way, we can also place an order in the direction of trend. Whichever side the price breaks out, will be the direction to trade.
3. Look for other confirmations such as extremely bullish and bearish candles before placing the orders.
🎯 An example of using stop orders
Let us take this scenario where there is a signal on possible reversal from complete uptrend.
Create a box joining high and low pivots at reasonable distance. You can also chose to add 1 ATR additional distance from pivots.
Use the top of the box as stop-entry for long and bottom as stop-entry for short. The other ends of the box can become stop-losses for each side.
After few bars, we can see that few more signals are plotted but, the price is still within the box. There are some candles which touched the top of the box. But, the candlestick patterns did not represent bullishness on those instances. If you have placed stop orders, these orders would have already filled in. In that case, just wait for position to hit either stop or target.
For bullish side, targets can be placed at certain risk reward levels. In this case, we just use 1:1 for bullish (trend side) and 1:1.5 for bearish side (reversal side)
In this case, price hit the target without any issue:
Wait for next reversal signal to appear before placing another order :)
Delta Volume Channels [LucF]█ OVERVIEW
This indicator displays on-chart visuals aimed at making the most of delta volume information. It can color bars and display two channels: one for delta volume, another calculated from the price levels of bars where delta volume divergences occur. Markers and alerts can also be configured using key conditions, and filtered in many different ways. The indicator caters to traders who prefer chart visuals over raw values. It will work on historical bars and in real time, using intrabar analysis to calculate delta volume in both conditions.
█ CONCEPTS
Delta Volume
The volume delta concept divides a bar's volume in "up" and "down" volumes. The delta is calculated by subtracting down volume from up volume. Many calculation techniques exist to isolate up and down volume within a bar. The simplest techniques use the polarity of interbar price changes to assign their volume to up or down slots, e.g., On Balance Volume or the Klinger Oscillator . Others such as Chaikin Money Flow use assumptions based on a bar's OHLC values. The most precise calculation method uses tick data and assigns the volume of each tick to the up or down slot depending on whether the transaction occurs at the bid or ask price. While this technique is ideal, it requires huge amounts of data on historical bars, which usually limits the historical depth of charts and the number of symbols for which tick data is available.
This indicator uses intrabar analysis to achieve a compromise between the simplest and most precise methods of calculating volume delta. In the context where historical tick data is not yet available on TradingView, intrabar analysis is the most precise technique to calculate volume delta on historical bars on our charts. TradingView's Volume Profile built-in indicators use it, as do the CVD - Cumulative Volume Delta Candles and CVD - Cumulative Volume Delta (Chart) indicators published from the TradingView account . My Volume Delta Columns Pro indicator also uses intrabar analysis. Other volume delta indicators such as my Realtime 5D Profile use realtime chart updates to achieve more precise volume delta calculations. Indicators of that type cannot be used on historical bars however; they only work in real time.
This is the logic I use to assign intrabar volume to up or down slots:
• If the intrabar's open and close values are different, their relative position is used.
• If the intrabar's open and close values are the same, the difference between the intrabar's close and the previous intrabar's close is used.
• As a last resort, when there is no movement during an intrabar and it closes at the same price as the previous intrabar, the last known polarity is used.
Once all intrabars making up a chart bar have been analyzed and the up or down property of each intrabar's volume determined, the up volumes are added and the down volumes subtracted. The resulting value is volume delta for that chart bar, which can be used as an estimate of the buying/selling pressure on an instrument.
Delta Volume Percent (DV%)
This value is the proportion that delta volume represents of the total intrabar volume in the chart bar. Note that on some symbols/timeframes, the total intrabar volume may differ from the chart's volume for a bar, but that will not affect our calculations since we use the total intrabar volume.
Delta Volume Channel
The DV channel is the space between two moving averages: the reference line and a DV%-weighted version of that reference. The reference line is a moving average of a type, source and length which you select. The DV%-weighted line uses the same settings, but it averages the DV%-weighted price source.
The weight applied to the source of the reference line is calculated from two values, which are multiplied: DV% and the relative size of the bar's volume in relation to previous bars. The effect of this is that DV% values on bars with higher total volume will carry greater weight than those with lesser volume.
The DV channel can be in one of four states, each having its corresponding color:
• Bull (teal): The DV%-weighted line is above the reference line.
• Strong bull (lime): The bull condition is fulfilled and the bar's close is above the reference line and both the reference and the DV%-weighted lines are rising.
• Bear (maroon): The DV%-weighted line is below the reference line.
• Strong bear (pink): The bear condition is fulfilled and the bar's close is below the reference line and both the reference and the DV%-weighted lines are falling.
Divergences
In the context of this indicator, a divergence is any bar where the slope of the reference line does not match that of the DV%-weighted line. No directional bias is assigned to divergences when they occur.
Divergence Channel
The divergence channel is the space between two levels (by default, the bar's low and high ) saved when divergences occur. When price has breached a channel and a new divergence occurs, a new channel is created. Until that new channel is breached, bars where additional divergences occur will expand the channel's levels if the bar's price points are outside the channel.
Prices breaches of the divergence channel will change its state. Divergence channels can be in one of five different states:
• Bull (teal): Price has breached the channel to the upside.
• Strong bull (lime): The bull condition is fulfilled and the DV channel is in the strong bull state.
• Bear (maroon): Price has breached the channel to the downside.
• Strong bear (pink): The bear condition is fulfilled and the DV channel is in the strong bear state.
• Neutral (gray): The channel has not been breached.
█ HOW TO USE THE INDICATOR
Load the indicator on an active chart (see here if you don't know how).
The default configuration displays:
• The DV channel, without the reference or DV%-weighted lines.
• The Divergence channel, without its level lines.
• Bar colors using the state of the DV channel.
The default settings use an Arnaud-Legoux moving average on the close and a length of 20 bars. The DV%-weighted version of it uses a combination of DV% and relative volume to calculate the ultimate weight applied to the reference. The DV%-weighted line is capped to 5 standard deviations of the reference. The lower timeframe used to access intrabars automatically adjusts to the chart's timeframe and achieves optimal balance between the number of intrabars inspected in each chart bar, and the number of chart bars covered by the script's calculations.
The Divergence channel's levels are determined using the high and low of the bars where divergences occur. Breaches of the channel require a bar's low to move above the top of the channel, and the bar's high to move below the channel's bottom.
No markers appear on the chart; if you want to create alerts from this script, you will need first to define the conditions that will trigger the markers, then create the alert, which will trigger on those same conditions.
To learn more about how to use this indicator, you must understand the concepts it uses and the information it displays, which requires reading this description. There are no videos to explain it.
█ FEATURES
The script's inputs are divided in four sections: "DV channel", "Divergence channel", "Other Visuals" and "Marker/Alert Conditions". The first setting is the selection method used to determine the intrabar precision, i.e., how many lower timeframe bars (intrabars) are examined in each chart bar. The more intrabars you analyze, the more precise the calculation of DV% results will be, but the less chart coverage can be covered by the script's calculations.
DV Channel
Here, you control the visibility and colors of the reference line, its weighted version, and the DV channel between them.
You also specify what type of moving average you want to use as a reference line, its source and length. This acts as the DV channel's baseline. The DV%-weighted line is also a moving average of the same type and length as the reference line, except that it will be calculated from the DV%-weighted source used in the reference line. By default, the DV%-weighted line is capped to five standard deviations of the reference line. You can change that value here. This section is also where you can disable the relative volume component of the weight.
Divergence Channel
This is where you control the appearance of the divergence channel and the key price values used in determining the channel's levels and breaching conditions. These choices have an impact on the behavior of the channel. More generous level prices like the default low and high selection will produce more conservative channels, as will the default choice for breach prices.
In this section, you can also enable a mode where an attempt is made to estimate the channel's bias before price breaches the channel. When it is enabled, successive increases/decreases of the channel's top and bottom levels are counted as new divergences occur. When one count is greater than the other, a bull/bear bias is inferred from it.
Other Visuals
You specify here:
• The method used to color chart bars, if you choose to do so.
• The display of a mark appearing above or below bars when a divergence occurs.
• If you want raw values to appear in tooltips when you hover above chart bars. The default setting does not display them, which makes the script faster.
• If you want to display an information box which by default appears in the lower left of the chart.
It shows which lower timeframe is used for intrabars, and the average number of intrabars per chart bar.
Marker/Alert Conditions
Here, you specify the conditions that will trigger up or down markers. The trigger conditions can include a combination of state transitions of the DV and the divergence channels. The triggering conditions can be filtered using a variety of conditions.
Configuring the marker conditions is necessary before creating an alert from this script, as the alert will use the marker conditions to trigger.
Markers only appear on bar closes, so they will not repaint. Keep in mind, when looking at markers on historical bars, that they are positioned on the bar when it closes — NOT when it opens.
Raw values
The raw values calculated by this script can be inspected using a tooltip and the Data Window. The tooltip is visible when you hover over the top of chart bars. It will display on the last 500 bars of the chart, and shows the values of DV, DV%, the combined weight, and the intermediary values used to calculate them.
█ INTERPRETATION
The aim of the DV channel is to provide a visual representation of the buying/selling pressure calculated using delta volume. The simplest characteristic of the channel is its bull/bear state. One can then distinguish between its bull and strong bull states, as transitions from strong bull to bull states will generally happen when buyers are losing steam. While one should not infer a reversal from such transitions, they can be a good place to tighten stops. Only time will tell if a reversal will occur. One or more divergences will often occur before reversals.
The nature of the divergence channel's design makes it particularly adept at identifying consolidation areas if its settings are kept on the conservative side. A gray divergence channel should usually be considered a no-trade zone. More adventurous traders can use the DV channel to orient their trade entries if they accept the risk of trading in a neutral divergence channel, which by definition will not have been breached by price.
If your charts are already busy with other stuff you want to hold on to, you could consider using only the chart bar coloring component of this indicator:
At its simplest, one way to use this indicator would be to look for overlaps of the strong bull/bear colors in both the DV channel and a divergence channel, as these identify points where price is breaching the divergence channel when buy/sell pressure is consistent with the direction of the breach. I have highlighted all those points in the chart below. Not all of them would have produced profitable trades, but nothing is perfect in the markets. Also, keep in mind that the circles identify the visual you would be looking for — not the trade's entry level.
█ LIMITATIONS
• The script will not work on symbols where no volume is available. An error will appear when that is the case.
• Because a maximum of 100K intrabars can be analyzed by a script, a compromise is necessary between the number of intrabars analyzed per chart bar
and chart coverage. The more intrabars you analyze per chart bar, the less coverage you will obtain.
The setting of the "Intrabar precision" field in the "DV channel" section of the script's inputs
is where you control how the lower timeframe is calculated from the chart's timeframe.
█ NOTES
Volume Quality
If you use volume, it's important to understand its nature and quality, as it varies with sectors and instruments. My Volume X-ray indicator is one way you can appraise the quality of an instrument's intraday volume.
For Pine Script™ Coders
• This script uses the new overload of the fill() function which now makes it possible to do vertical gradients in Pine. I use it for both channels displayed by this script.
• I use the new arguments for plot() 's `display` parameter to control where the script plots some of its values,
namely those I only want to appear in the script's status line and in the Data Window.
• I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual.
█ THANKS
To PineCoders . I have used their lower_tf library in this script, to manage the calculation of the LTF and intrabar stats, and their Time library to convert a timeframe in seconds to a printable form for its display in the Information box.
To TradingView's Pine Script™ team. Their innovations and improvements, big and small, constantly expand the boundaries of the language. What this script does would not have been possible just a few months back.
And finally, thanks to all the users of my scripts who take the time to comment on my publications and suggest improvements. I do not reply to all but I do read your comments and do my best to implement your suggestions with the limited time that I have.
Money Flow Trend Strength [CraftyChaos]I devised this indicator because I wanted to find a way to track the Money Flow Trend to exhaustion for both directions.
Overview:
I use two MFI series and an EMA of the faster MFI series to derive when the Money Flow is trending in one direction or another.
What does this indicator not do:
This indicator does not give buy and sell signals.
What does this indicator do:
This indicator offers confluence with your other indicators to determine when a reversal is approaching after a sustained trend of money flowing in or out of an asset.
This indicator can help time your trades near reversal points, so you are not entering trades in the middle of some trending move.
How to Tune
I would not recommend changing the settings. I have exposed them for people that want to experiment. The short lengths are key to reducing lag
How to read the indicator:
When a red cross appears at the top, this indicates money flow into the asset is strong. Do not short an asset while there are red crosses. You will get REKT
When a green cross appears at the bottom, this indicates money flow exiting the asset is strong. DO NOT buy an asset while there are green crosses. You will get REKT.
When the white step line enters the top, but no crosses appear, this indicates money is flowing into the asset, but is weak. The trend will either gain strength soon or will collapse.
When the white step line enters the bottom, but no crosses appear, this indicates money is flowing out of the asset, but is weak. The trend will either gain strength soon or will collapse.
The green line is the slower MFI. I would not use any crosses with the white step line and the green line. These two lines can cross frequently and show divergences with price. very frequent crossing may indicate sideways movement with no real price movement.
I often see the white step line enter the bottom and top zones under two primary conditions:
Secondary tests of support and resistance zone which fail
Failed breakouts/pullbacks after a pump or dump
Additionally, I use my indicator with the following indicators. You may find them useful:
Jurik Filtered, Composite Fractal Behavior (CFB) Channels (on current timeframe). Note: I often find strong trends trace the upper/lower bands, and end when the upper or lower band flattens
Jurik Filtered, Composite Fractal Behavior (CFB) Channels (on smaller timeframe, i.e., 2hr on a 4h or 15m on the 1hr). Note: I often find weak trend pullbacks/breakouts touch the channel bands
Session Volume Profile. Note: find trend completion corresponds to price above/below VAL areas
Defu_RSIThis is a composite indicator, a collection of multiple indicators.
Includes:
1. in the simple RSI oversold and overbought area, I rewritten the RSI index of pine, which is more in line with the change of the relative intensity of rise and fall.
2. the red and green column line to the top is rewritten by William w% index. The red and green column indicates the top of the stage. When the column line disappears, it indicates the top of the stage. It is very reliable.
3. CCI green line: calculate CCI index through EMA weighting, smooth CCI curve and reflect trend change.
4. the j-link of KDJ variant indicates the real-time change of trend, which is used in conjunction with CCI index. Please observe carefully
5. the intra day fluctuation indicator is represented by a red orange column line below the 0 axis, and a simple filter is added to indicate the turning point of the trend.
I will continue to update when I have time
//==============The above is translated by Google , please pass the administrator
这是个复合指标，是多个指标的集合。
包含有 1. 简单RSI超卖超买区，我改写了pine自带的rsi指标，这个更加符合涨跌相对强度的变化。
2.到顶红绿柱线，由威廉W%指标改写，红绿柱表示阶段的顶部，当柱线消失时，表示阶段顶部，非常可靠。
3. CCI 绿色线，通过ema加权计算CCI指标，平滑CCI曲线，反应趋势变化。
4.用KDJ变种的J线连表示趋势的即时变化，这个配合CCI指标使用。请仔细观察
5.日内波动指示器，在0轴下方用红橙柱线表示，加了简单的过滤器，表示趋势的转折点。
Whisker Reversal Oscillator [SpiritualHealer117]The Whisker Reversal Oscillator can be used to spot strength or weakness in trends. It is designed for stocks, commodities and forex trading, and is intended to be calculated from the high, close, low, and open over a given length.
Features:
The Whisker Reversal Oscillator shows the average length of the top and bottom whiskers on candlesticks over a defined length. It plots the percentage difference between the whiskers and the length of the body, with the yellow line representing the average length of the top whisker, and the bottom line indicating the average length of the bottom whisker.
Interpreting the signals:
The Whisker Reversal Oscillator is interpreted in the same way as a candlestick reversal pattern, where it being bullish or bearish depends on the trend. In a bull trend, if the yellow line passes above the blue line, it means the top whiskers are longer on average than the bottom whiskers, which may show that bulls were too weak to hold a rally, and signal a reversal. On the other hand, in a bear trend, if the yellow line is above the blue line, it indicates that the bulls were able to push the price up, which would be bullish. If the blue line crosses over the yellow line in an uptrend, it's often a bearish sign, but if it happens in a downtrend, its a bullish sign.
Generally speaking, a cross in the lines is indicative of a potential reversal, and when the lines cross over 1, it means that the whiskers were bigger than the candlestick bodies over your selected length, indicating that a big swing will come.
Future Risk CalculatorCreated out of revenge against the difficulty of controlling psychology, greed, and risk management. Designed for cryptocurrency futures trading by following the risk management principles from Kevin Sailly. Very welcome if there are suggestions and input to improve the quality of this "indicator". Please use wisely.
How to use:
1. Open indicator settings.
2. Fill out all the forms. (Note: I make Max Loss Risk only has 5 options. Because, you know, to control the greed. You can choose by considering your risk profiles and market condition)
3. All of the information and calculation will appear on the label (right side of the bar chart) and top-right box.
4. You can adjust the three prices (target, entry, and stop) by clicking any part of the indicator. There will be three dots in the middle of the chart window (align with three prices). Click that dots and drag them up/down to customize according to your wishes. The price order must be correct, for LONG direction the price order from the top is target-entry-stop. Vice versa for SHORT direction. There will be "SETUP ERROR" text in the top-right box if the price order is not correct.
"Never, ever argue with your trading system." (by Michael Covel)
Regards,
Ircham
Magnifying Glass (LTF Candles) by SiddWolf█ OVERVIEW
This indicator displays The Lower TimeFrame Candles in current chart, Like Zooming in on the Candle to see it's Lower TimeFrame Structure. It plots intrabar OHLC data inside a Label along with the volume structure of LTF candle in an eloquent format.
█ QUICK GUIDE
Just apply it to the chart, Hover the mouse on the Label and ta-da you have a Lower Timeframe OHLC candles on your screen. Move the indicator to the top and shrink it all the way up, because all the useful data is inside the label.
Inside the label: The OHLC ltf candles are pretty straightforward. Volume strength of ltf candles is shown at bottom and Volume Profile on the left. Read the Details below for more information.
In the settings, you will find the option to change the UI and can play around with Lower TimeFrame Settings.
█ DETAILS
First of all, I would like to thank the @TradingView team for providing the function to get access to the lower timeframe data. It is because of them that this magical indicator came into existence.
Magnifying Glass indicator displays a Candle's Lower TimeFrame data in Higher timeframe chart. It displays the LTF candles inside a label. It also shows the Volume structure of the lower timeframe candles. Range percentage shown at the bottom is the percentage change between high and low of the current timeframe candle. LTF candle's timeframe is also shown at the bottom on the label.
This indicator is gonna be most useful to the price action traders, which is like every profitable trader.
How this indicator works:
I didn't find any better way to display ltf candles other than labels. Labels are not build for such a complex behaviour, it's a workaround to display this important information.
It gets the lower timeframe information of the candle and uses emojis to display information. The area that is shown, is the range of the current timeframe candle. Range is a difference between high and low of the candle. Range percentage is also shown at the bottom in the label.
I've divided the range area into 20 parts because there are limitation to display data in the labels. Then the code checks out, in what area does the ltf candle body or wick lies, then displays the information using emojis.
The code uses matrix elements for each block and relies heavily on string manipulation. But what I've found most difficult, is managing to fit everything correctly and beautifully so that the view doesn't break.
Volume Structure:
Strength of the Lower TimeFrame Candles is shown at the bottom inside the label. The Higher Volume is shown with the dark shade color and Lower Volume is shown with the light shade. The volume of candles are also ranked, with 1 being the highest volume, so you can see which candle have the maximum to minimum volume. This is pretty important to make a price action analysis of the lower timeframe candles.
Inside the label on the left side you will see the volume profile. As the volume on the bottom shows the strength of each ltf candles, Volume profile on the left shows strength in a particular zone. The Darker the color, the higher the volume in the zone. The Highest volume on the left represents Point of Control (Volume Profile POC) of the candle.
Lower TimeFrame Settings:
There is a limitation for the lowest timeframe you can show for a chart, because there is only so much data you can fit inside a label. A label can show upto 20 blocks of emojis (candle blocks) per row. Magnifying Glass utilizes this behaviour of labels. 16 blocks are used to display ltf candles, 1 for volume profile and two for Open and Close Highlighter.
So for any chart timeframe, ltf candles can be 16th part of htf candle. So 4 hours chart can show as low as 15 minutes of ltf data. I didn't provide the open settings for changing the lower timeframe, as it would give errors in a lot of ways. You can change the timeframe for each chart time from the settings provided.
Limitations:
Like I mentioned earlier, this indicator is a workaround to display ltf candles inside a label. This indicator does not work well on smaller screens. So if you are not able to see the label, zoom out on your browser a bit. Move the indicator to either top or bottom of all indicators and shrink it's space because all details are inside the label.
█ How I use MAGNIFYING GLASS:
This indicator provides you an edge, on top of your existing trading strategy. How you use Magnifying Glass is entirely dependent on your strategy.
I use this indicator to get a broad picture, before getting into a trade. For example I see a Doji or Engulfing or any other famous candlestick pattern on important levels, I hover the mouse on Magnifying Glass, to look for the price action the ltf candles have been through, to make that pattern. I also use it with my "Wick Pressure" indicator, to check price action at wick zones. Whenever I see price touching important supply and demand zones, I check last few candles to read chart like a beautiful price action story.
Also volume is pretty important too. This is what makes Magnifying Glass even better than actual lower timeframe candles. The increasing volume along with up/down trend price shows upward/downward momentum. The sudden burst (peak) in the volume suggests volume climax.
Volume profile on the left can be interpreted as the strength/weakness zones inside a candle. The low volume in a price zone suggests weakness and High volume suggests strength. The Highest volume on the left act as POC for that candle.
Before making any trade, I read the structure of last three or four candles to get the complete price action picture.
█ Conclusion
Magnifying Glass is a well crafted indicator that can be used to track lower timeframe price action. This indicator gives you an edge with the Multi Timeframe Analysis, which I believe is the most important aspect of profitable trading.
~ @SiddWolf
[blackcat] L3 Xerxes ChannelsLevel 3
Background
The stock price channel theory is a widely used and mature theory in western securities analysis. In the 1970s, American Xerxes first established this theory.
Function
In fact, it is contained by the short-term small channel and runs up and down in the long-term large channel. The basic trading strategy is that when the short-term small channel approaches the long-term large channel, it indicates a recent reversal of the trend. The trend reverses downwards as the upper edge approaches, capturing short-term selling points. The trend reverses upward as the lower edge approaches, capturing short-term buying points. Studying this method can successfully escape from the top and catch the bottom in every wave of the market and seek the maximum profit.
The long-term major channel reflects the long-term trend state of the stock, the trend has a certain inertia, and the extension time is long, reflecting the large cycle of the stock, which can grasp the overall trend of the stock, and is suitable for medium and long-term investment;
The short-term small channel reflects the short-term trend status of the stock, accommodates the ups and downs of the stock, effectively filters out the frequent vibrations in the stock trend, but retains the up and down fluctuations of the stock price in the large channel, reflecting the small cycle of the stock, suitable for medium short-term speculation;
The long-term large channel is upward, that is, the general trend is upward. At this time, when the short-term small channel touches or is close to the bottom of the long-term large channel, it indicates that the stock price is oversold and there is a possibility of a rebound. The short-term small channel has touched the top of the long-term large channel, indicating that the stock price has been overbought, and there will be a correction or consolidation in the form, and there is a trend of approaching the long-term large channel. It is more effective if the K-line trend and the short-term small channel trend also match well;
The long-term big channel goes up, and the short-term small channel touches the top of the long-term big channel. At this time, the stock is in the stage of strong elongation. It can be appropriate to wait and see. When it turns flat in the short-term or turns its head down, it is a good delivery point, but it will penetrate If the area is a risk area, you should pay close attention to the reversal signal and ship at any time;
The long-term large channel is downward, that is, the general trend is downward. At this time, the short-term small channel or the stock price peaks and the selling pressure increases, and there is a downward trend again. The bottoming pattern means that the buying pressure is increasing, and there is a requirement for slow decline adjustment or stop decline, and the price movement will tend to be close to the upper edge of the long-term large channel. Callbacks should be treated with caution, and buy only after confirming the reversal signal;
The long-term large channel is down, while the short-term small channel penetrates the bottom line of the long-term large channel downward. At this time, it is mostly a slump process, and there is a rebound requirement, but the decline process will continue. It is not appropriate to open a position immediately. There is an upward trend, and when the short-term small channel turns back up and crosses back, it is a better opportunity to open a position at a low level;
When the long-term large channel is flat horizontally for a long time, it is to consolidate the market, and the price fluctuates up and down along the channel. At this time, it is the stage of adjustment, opening and washing, indicating the emergence of the next round of market. Short-term speculators can sell on highs and buy on lows. If the short-term small channel strongly crosses the long-term large channel, and the long-term large channel turns upward, it indicates that a strong upward trend has begun. If the short-term small channel penetrates down the long-term large channel, and the long-term large channel turns downward, it indicates that the decline will continue.
In a large balanced market, buy when the stock price hits the lower rail of the large channel at the bottom of the swing, and sell when the stock price hits the upper rail of the large channel at the peak of the swing.
Remarks
Feedbacks are appreciated.
(JS) Checklist SignalsWhat if I told you that you could use over 10 indicators at once without having a single one of them on you chart? Enter the Checklist Signals. This is probably the most complex yet simple indicator I've ever done.
What you get is 6 rows (if you want them all) of labels that hover at the top of your screen with a ton of extremely useful information. I will go down the list of options in the indicator settings and explain how it all works.
So the label placement is based on ATR. You choose your X Axis and Y Axis starting point then adjust the lookback period. Default lookback is 600 bars. What that means is, the indicator finds the highest high in the last 600 bars, then begins to place the labels above that zone based on the ATR of the chart. Different timeframes require very different combinations so it's all customizable. Sometimes if labels overlap you need to adjust the X Axis starting point, or the spread on either axis.
The next set of options allows you to decide what you'd prefer to be set on or off. Let's start with ATR and VWAP. I have added bands for both of these. When price is below the mean (which is the 21 ema by default), then the labels show you the next 5 standard deviations of ATR going down. When under one of these levels the label turns red. The opposite is true when above the mean and in those instances the labels will be green. It is the same with the VWAP, though instead of using the mean we use the daily VWAP as the starting point. If you choose to have levels switched on then you can see the actual values of each standard deviation level. Down lower in the options you can change the resolution and source used for VWAP.
The next option is "Trending". This creates a moving average using the length of the Trending Lookback Period (default is 5) and then tells you using arrows in the label which direction the trend of the indicator is going.
The next area let's you specify the information you receive in the Squeeze labels. By default all options are one - and this tells you if there's a Squeeze, what type of Squeeze there is, and how many bars the Squeeze has been building up or since it fired. These labels are color coded to correspond with the Squeeze type as well.
Then we get to another one of my indicators, the Ballista. One of the main signals is the "Inverted Squeeze" where the short term momentum inverts against the long term momentum. Here I have the distance between the two oscillators in the first label, and then the second label tells you if there's an Inverted Squeeze signal, if there's potential entry, confirmed entry, or how many bars its been since the last entry signal.
The next feature is off by default, but it will add arrows to your chart based on a simple lower highs and higher lows signals. Turning arrows on will place them right on your chart above or below each bar.
The rest of it is customizable settings of all the other indicators that are shown. Now looking at the labels themselves, starting in the top left corner:
First Row-
ADX + DMI: These labels show the ADX, DI+, & DI- values in each label. Whenever the DI+ or DI- is above the other then their respective label will light up. Also, when the ADX is above 20 (confirming the trend) it lights up in the same color as well.
Squeeze: I described how this worked above, the labels tell you if there's a Squeeze, how long there's been one, and how long since it fired, all while also changing to color of the associated Squeeze type.
Second Row -
Stacked EMAs: The top label looks at the EMA values using the numbers of the Fibonacci sequence. It looks at the EMA 8, 21, 34, 55, 89, & 233 and tells you if they're all stacked in the same direction (Stacked Bear meaning they're all crossed down in order, Stacked Bull meaning they're all crossed up in order). If the EMAs are all stacked but 1 or 2 it will say Stacked -1 or Stacked -2. When they're all over the place it will say they aren't stacked at all.
BB%: This tells you the value of the Bollinger Band %. If this is negative then you know that price is currently below the lower Bollinger Band, and if it is above 100% it is above the upper Bollinger Band.
RSI: This tells you the value of the RSI and the label changes colors based on the value.
Stoch: This tells you the Stochastic value and changes colors based on the value, same as the RSI.
Third Row -
The Mean: This tells you the numerical value of whatever you have the mean set as (21 ema by default). The label changes colors based on price being above or below the mean.
One ATR: This was something I added for those looking to plan their trades out. This tells you the value of one ATR so you can have a better idea of how to plan your trades based on this distance.
VIX: This tells you the current value of the VIX, and color changes based on being green or red on the day.
Ballista: I explained this above, it tells you the distance between the two oscillators and changes colors based on the trend being above or below 0. When there's an Inverted Squeeze this label is gray.
Inverted Squeeze: This label tells you if there's an inverted squeeze as well as if it is showing an entry or how many bars since the last entry signal. This label turns fuchsia on a bear signal and lime on a bull signal.
Fourth Row -
ATR Bands: As I explained above, this plots each standard deviation using ATR and changes colors based on price's relationship to each one.
Fifth Row -
VWAP: The three labels here show the daily, weekly, and monthly VWAP values, and color changes based on price's relationship to each one.
Sixth Row -
VWAP Bands: These are the standard deviation levels of the VWAP resolution of your choosing (as explained above), and just as the others, colors change based on price's relationship to each one.
I thought this was a really cool indicator that could be used for people like me who like knowing the right information, but HATE having their charts clustered with a ton of stuff. Hope you all like it, enjoy!
