AI indicatorThis script is a trading indicator designed for future trading signals on the TradingView platform. It uses a combination of the Relative Strength Index (RSI) and a Simple Moving Average (SMA) to generate buy and sell signals. Here's a breakdown of its components and logic:
1. Inputs
The script includes configurable inputs to make it adaptable for different market conditions:
RSI Length: Determines the number of periods for calculating RSI. Default is 14.
RSI Overbought Level: Signals when RSI is above this level (default 70), indicating potential overbought conditions.
RSI Oversold Level: Signals when RSI is below this level (default 30), indicating potential oversold conditions.
Moving Average Length: Defines the SMA length used to confirm price trends (default 50).
2. Indicators Used
RSI (Relative Strength Index):
Measures the speed and change of price movements.
A value above 70 typically indicates overbought conditions.
A value below 30 typically indicates oversold conditions.
SMA (Simple Moving Average):
Used to smooth price data and identify trends.
Price above the SMA suggests an uptrend, while price below suggests a downtrend.
3. Buy and Sell Signal Logic
Buy Condition:
The RSI value is below the oversold level (e.g., 30), indicating the market might be undervalued.
The current price is above the SMA, confirming an uptrend.
Sell Condition:
The RSI value is above the overbought level (e.g., 70), indicating the market might be overvalued.
The current price is below the SMA, confirming a downtrend.
These conditions ensure that trades align with market trends, reducing false signals.
4. Visual Features
Buy Signals: Displayed as green labels (plotshape) below the price bars when the buy condition is met.
Sell Signals: Displayed as red labels (plotshape) above the price bars when the sell condition is met.
Moving Average Line: A blue line (plot) added to the chart to visualize the SMA trend.
5. How It Works
When the buy condition is true (RSI < 30 and price > SMA), a green label appears below the corresponding price bar.
When the sell condition is true (RSI > 70 and price < SMA), a red label appears above the corresponding price bar.
The blue SMA line helps to visualize the overall trend and acts as confirmation for signals.
6. Advantages
Combines Momentum and Trend Analysis:
RSI identifies overbought/oversold conditions.
SMA confirms whether the market is trending up or down.
Simple Yet Effective:
Reduces noise by using well-established indicators.
Easy to interpret for beginners and experienced traders alike.
Customizable:
Parameters like RSI length, oversold/overbought levels, and SMA length can be adjusted to fit different assets or timeframes.
7. Limitations
Lagging Indicator: SMA is a lagging indicator, so it may not capture rapid market reversals quickly.
Not Foolproof: No trading indicator can guarantee 100% accuracy. False signals can occur in choppy or sideways markets.
Needs Volume Confirmation: The script does not consider trading volume, which could enhance signal reliability.
8. How to Use It
Copy the script into TradingView's Pine Editor.
Save and add it to your chart.
Adjust the RSI and SMA parameters to suit your preferred asset and timeframe.
Look for buy signals (green labels) in uptrends and sell signals (red labels) in downtrends.
Pita dan Kanal
NPT Levels GeneratorNPT Levels Generator
Description:
The NPT Levels Generator is a custom indicator designed to draw horizontal lines at specific price levels on the chart. It helps traders identify key levels of interest, making it easier to analyze price action and plan trades.
The indicator takes a manually defined Base Price as the central reference point and then generates a series of horizontal lines above and below it at equal intervals. The number of lines and the distance between them are fully customizable through the settings panel.
This tool is particularly useful for identifying support and resistance levels, pivot zones, or any other significant price levels for technical analysis.
Features:
-Customizable Base Price: Define the central level manually.
- Adjustable Line Distance: Set the spacing between each horizontal line.
- Flexible Number of Lines: Choose how many lines to display above and below the base price.
- Custom Line Appearance: Configure the color and thickness of the lines.
This indicator is ideal for traders using price levels as a core part of their strategy, offering flexibility and clarity in visualizing key areas of interest.
FON60DK by leventsahThe strategy generates buy and sell signals using the Tillson T3 and TOTT (Twin Optimized Trend Tracker) indicators. Additionally, the Williams %R indicator is used to filter the signals. Below is an explanation of the main components of the code:
1. Input Parameters:
Tillson T3 and TOTT parameters: Separate parameters are defined for both buy (AL) and sell (SAT) conditions. These parameters control the sensitivity and behavior of the indicators.
Williams %R period: The period for the Williams %R indicator is set to determine overbought and oversold levels.
2. Tillson T3 Calculation:
The Tillson T3 indicator is a smoothed moving average that uses an exponential moving average (EMA) with additional smoothing. The formula calculates a weighted average of multiple EMAs to produce a smoother line.
The t3 function computes the Tillson T3 value based on the close price and the input parameters.
3. TOTT Calculation (Twin Optimized Trend Tracker):
The TOTT indicator is a trend-following tool that adjusts its sensitivity based on market conditions. It uses a combination of price action and a volatility coefficient to determine trend direction.
The Var_Func function calculates the TOTT value, which is then used to derive the OTT (Optimized Trend Tracker) levels for both buy and sell conditions.
4. Williams %R Calculation:
Williams %R is a momentum oscillator that measures overbought and oversold levels. It is calculated using the highest high and lowest low over a specified period.
5. Buy and Sell Conditions:
Buy Condition: A buy signal is generated when the Tillson T3 value crosses above the TOTT upper band (OTTup) and the Williams %R is above -20 (indicating an oversold condition).
Sell Condition: A sell signal is generated when the Tillson T3 value crosses below the TOTT lower band (OTTdnS) and the Williams %R is above -70 (used to close long positions).
6. Strategy Execution:
The strategy.entry function is used to open a long position when the buy condition is met.
The strategy.close function is used to close the long position when the sell condition is met.
7. Visualization:
The bars on the chart are colored green when a long position is open.
The Tillson T3, TOTT upper band (OTTup), and TOTT lower band (OTTdn) are plotted on the chart for both buy and sell conditions.
8. Plots:
The Tillson T3 values for buy and sell conditions are plotted in blue.
The TOTT upper and lower bands are plotted in green and red, respectively, for both buy and sell conditions.
Summary:
This strategy combines trend-following indicators (Tillson T3 and TOTT) with a momentum oscillator (Williams %R) to generate buy and sell signals. The use of separate parameters for buy and sell conditions allows for fine-tuning the strategy based on market behavior. The visual elements, such as colored bars and plotted indicators, help traders quickly identify signals and trends on the chart.
Channel Breakout by NatXateThe Channel Breakout by NatXate is a multi-channel technical indicator designed to identify potential breakout opportunities based on a combination of Keltner Channels, Donchian Channels, and Bollinger Bands.
This indicator helps traders pinpoint buy and sell signals by analyzing price behavior around key channel boundaries, while filtering out false signals using volatility and momentum criteria such as the Average True Range (ATR) and Bollinger Bands Width (BBW).
Key Features:
Keltner Channel:
The Keltner Channel is calculated using an Exponential Moving Average (EMA) and ATR to define upper and lower boundaries.
The upper and lower Keltner boundaries serve as potential breakout levels.
Donchian Channel:
The Donchian Channel tracks the highest high and lowest low over a user-defined period.
Price breaking above or below these boundaries indicates a potential long or short opportunity.
Bollinger Bands:
Bollinger Bands use a Simple Moving Average (SMA) and standard deviation to define dynamic support and resistance levels.
The upper and lower Bollinger boundaries provide an additional layer of confirmation for breakouts.
Bollinger Bands Width (BBW) Filter:
Measures the width of the Bollinger Bands, which reflects market volatility.
A minimum BBW threshold (minBBW) ensures signals are only generated during periods of sufficient volatility, helping to avoid false signals in consolidating markets.
ATR Filter:
The ATR is used to measure market volatility.
Only signals with ATR exceeding a user-defined percentage of the current price (atrThresholdPercent) are considered valid.
Buy and Sell Conditions:
Buy Signal:
Price breaks above the upper boundary of any of the three channels (Keltner, Donchian, or Bollinger Bands).
ATR is above its threshold, indicating sufficient volatility.
BBW is above the minBBW threshold.
Sell Signal:
Price breaks below the lower boundary of any of the three channels.
ATR is above its threshold.
BBW is above the minBBW threshold.
Non-Repainting Logic:
Signals are confirmed only after the bar closes (barstate.isconfirmed), preventing repainting and ensuring reliable signal generation.
Visual Signals:
Buy signals are marked with a green "B" label below the bar.
Sell signals are marked with a red "S" label above the bar.
The upper and lower boundaries of the Keltner Channel, Donchian Channel, and Bollinger Bands are plotted for visual clarity.
Alerts:
Separate alerts are available for Buy and Sell signals:
Buy Signal: "Channel Breakout Buy Signal by NatXate detected!"
Sell Signal: "Channel Breakout Sell Signal by NatXate detected!"
Alerts trigger once per bar close, making it suitable for real-time trading or monitoring.
How It Works:
Trend Identification:
The indicator identifies trends based on price breakouts above or below the channel boundaries.
Volatility Filtering:
Both ATR and BBW filters ensure that only high-probability breakout signals are shown, reducing noise in low-volatility environments.
Signal Confirmation:
Signals are confirmed after the bar closes to prevent false positives or premature triggers.
Parameters:
Keltner Channel Parameters:
lengthKC: Period for the Keltner Channel's EMA.
multKC: ATR multiplier for Keltner Channel boundaries.
Donchian Channel Parameters:
lengthDC: Period for calculating the highest high and lowest low.
Bollinger Bands Parameters:
lengthBB: Period for the Bollinger Bands' SMA.
multBB: Standard deviation multiplier for Bollinger Bands boundaries.
ATR Filter:
atrLength: Period for calculating ATR.
atrThresholdPercent: Minimum ATR as a percentage of the price for valid signals.
BBW Filter:
minBBW: Minimum Bollinger Bands Width required for signal generation.
Use Cases:
Breakout Trading:
Detect potential buy and sell opportunities when price breaks key channel boundaries during high volatility.
Trend Following:
Use the indicator to confirm trends and enter trades in the direction of the breakout.
Avoiding Low-Volatility Periods:
The BBW and ATR filters help avoid false signals in consolidating or choppy markets.
Recommended Usage:
Combine this indicator with additional tools such as volume analysis or momentum oscillators (e.g., MACD, RSI) for further confirmation.
Suitable for various timeframes, from intraday to swing trading.
Backtest thoroughly to adjust parameters for the specific market and timeframe you trade.
Midnight Open RangeMidnight Open Range with Breakouts & Targets
This indicator helps traders identify and analyze the Midnight Open Range (12:00 AM to 12:30 AM ET) for potential trading opportunities. Key features include:
1. Automatic detection and plotting of the Midnight Open Range
2. Display of multiple historical ranges (customizable)
3. Breakout signals for range violations
4. Multiple target levels based on the range size
5. Customizable colors and styles for easy visual analysis
Perfect for traders looking to capitalize on overnight price action and early morning trends. Ideal for forex, futures, and 24-hour markets.
Note: For best results, use on lower timeframes (5-minute or less) with 24-hour chart data.
20-34 Dual Dot Alerts OnlyPine Script that uses dual Donchian Channels (20-period and 34-period) and places tiny blue dots above candles when the highest price touches any upper Donchian Channel and below candles when the lowest price touches any lower Donchian Channel, without displaying the channels themselves, you can use the code.
### Explanation of the Code:
1. **Indicator Declaration**: The script is named "Dual Donchian Channels Dots Only" and overlays on the price chart.
2. **Input for Lengths**: Users can set lengths for two Donchian Channels (20 and 34 periods).
3. **Calculating Bands**: The upper and lower bands are calculated using `ta.highest` and `ta.lowest` functions over the specified periods.
4. **Touch Conditions**:
- `upperTouch`: Checks if the highest price of the current candle touches either of the upper bands.
- `lowerTouch`: Checks if the lowest price of the current candle touches either of the lower bands.
5. **Plotting Dots**:
- A tiny blue dot is plotted above bars where `upperTouch` is true.
- A tiny blue dot is plotted below bars where `lowerTouch` is true.
### How to Use:
1. Copy this script into TradingView’s Pine Script editor.
2. Save it and add it to your chart.
3. You will see tiny blue dots appear above or below candles based on whether they touch any of the upper or lower Donchian Bands.
This setup provides a clear visual indication of price interactions with both Donchian Channels while keeping the chart uncluttered by hiding the channel lines.
EMA/RMA clouds by AlpachinoRE-UPLOAD
The indicator is designed for faster trend determination and also provides hints about whether the trend is strong, weaker, or if a range is expected.
It consists of an exponential moving average (EMA) and a slower smoothed moving average (RMA). I chose these because EMA is the fastest and is respected by the market, while I discovered through practice that the market often respects RMA, and in some cases, even more than EMA. Their combination is necessary because I want to take advantage of the best qualities of both averages. Displaying averages based solely on the close values creates a simple line that the market might respect. However, this is often not the case. Market makers know that many traders still believe in the theory that closing above/below an EMA signals a valid new trend. They commonly apply this belief to EMA200. Traders think that if the market closes below EMA, it signals a downtrend. That’s not necessarily true. This misconception often traps inexperienced traders.
For this reason, my indicator does not include a separate line.
I use what are called envelopes. In other words, for both EMA and RMA, the calculation uses the high and low of the selected period, which can be chosen as an input in the indicator.
Why did I choose high and low?
To stabilize price fluctuations as much as possible, especially to allow enough space for the price to react to the moving average. This reaction occurs precisely between the high and low.
Modes:
EMA Cloud – This is the most common envelope in terms of averages. It shows the best reactions with a period of 50.
What should you observe: the alignment of the envelope or its slope.
Usage:
Breakouts through the entire envelope tend to be strong, which signals that the trend may change. However, what interests you most is that the first test of the envelope after a breakout is the most successful entry point for trades in the breakout direction.
In an uptrend, the first support will be the high of the envelope, and the second (let’s call it the "ultimate support") will be the low of the envelope.
If, during an uptrend, the market closes below the low, be cautious, as the trend may reverse.
If the envelope is broken, trade the retest of the envelope.
In general, if the price is above the envelope, focus on long trades; if it’s below the envelope, focus on short trades.
Double Cloud – Since we already know that highs and lows are more relevant for price respect, I utilized this in the double cloud. Here, I use calculations for EMA and RMA highs and EMA and RMA lows.
The core idea is that since the price often reacts more to RMA than EMA, I wanted to eliminate attempts by market makers to lure you into incorrect directions. By creating more space for the price to react to the highs or lows, I made the cloud fill the area between EMA and RMA highs. This serves as the last zone where the price can hold. If the price breaks above this high cloud during a return, this doesn’t happen randomly—you should pay attention, as it’s likely signaling a range or a trend change.
The same applies to the low cloud for EMA and RMA.
The advantage of the double cloud is that you can see two clouds that may move sideways. This can resemble two walls—and they really act as such.
Usage:
Let’s say we have a downtrend. The market seems to be experiencing a downtrend exhaustion. Here's the behavior you might observe:
The price returns to the EMA/RMA low; the first reaction may still have some strength, but each subsequent return will move higher and higher into the cloud with increasingly smaller rejections downward. This indicates the absorption of selling pressure by bullish pressure. Eventually, the price may close above the cloud, significantly disrupting the downtrend and potentially signaling a reversal.
A confirmation of the reversal is usually seen with a retest of the cloud and a bounce upward into an uptrend.
The second scenario, which you’ll often see, involves sharp and significant moves through both envelopes. This kind of move is the strongest signal of a trend change. However, do not jump into trades immediately—wait for the first retest, which is usually successful. Additional tests may not work, as the breakout might not signify a trend change but rather a range.
When the clouds are far apart, it signals a weak trend or that the market is in a range. You will see that this is generally true. When the clouds cross or overlap, their initial point of contact signals the start of a stronger trend. The steeper the slope, the stronger the trend.
Volume-Based RSI Color Indicator with MAsVolume-Based RSI Color Indicator with MAs
Overview
This script combines the Relative Strength Index (RSI) with volume analysis to provide an enhanced perspective on market conditions. By dynamically coloring the RSI line based on overbought/oversold conditions and volume thresholds, this indicator helps traders quickly identify high-probability reversal zones. Additionally, it incorporates short-term and long-term moving averages (MAs) of the RSI for trend analysis, making it a versatile tool for scalping and swing trading strategies.
Key Features
Dynamic RSI Color Coding:
The RSI line changes color based on two conditions:
Overbought/High Volume: RSI is above the overbought threshold (default: 70) and volume exceeds the average volume by a user-defined multiplier (default: 2.0). The line turns red, indicating potential reversal zones.
Oversold/High Volume: RSI is below the oversold threshold (default: 30) and volume exceeds the average volume by the multiplier. The line turns green, suggesting potential buying opportunities.
Neutral Conditions: Default blue color for all other scenarios.
Volume Integration:
Unlike standard RSI indicators, this script incorporates volume data to refine signals, helping traders avoid false signals in low-volume environments.
RSI Moving Averages:
Two moving averages of the RSI (short-term and long-term) provide trend context:
200-period MA: Highlights the long-term trend in RSI values.
20-period MA: Shows short-term fluctuations for quick decision-making.
Both MAs can be calculated using Simple or Exponential methods, giving users flexibility.
Visual Aids:
Horizontal lines at the overbought (70) and oversold (30) levels help define the boundaries of expected price action extremes.
How It Works
The script calculates the RSI over a user-defined length (default: 14).
Volume data is compared to its moving average to determine if it exceeds the user-defined high-volume threshold.
When RSI and volume conditions align, the RSI line is dynamically colored to indicate potential overbought/oversold zones.
The RSI moving averages provide additional context to confirm trends or reversals.
How to Use
Identify Reversal Zones:
Look for green RSI signals in oversold conditions to identify potential buying opportunities.
Look for red RSI signals in overbought conditions to identify potential selling opportunities.
Use Moving Averages for Confirmation:
When the RSI is above its 200-period MA, the long-term trend is bullish; consider only long trades.
When the RSI is below its 200-period MA, the trend is bearish; consider only short trades.
Combine with Other Tools:
This indicator works best when used alongside price action analysis, candlestick patterns, or support/resistance levels.
Originality
This script is unique in combining volume analysis with RSI and RSI-specific moving averages. While many indicators focus on RSI or volume separately, this script marries these two key metrics to filter out weak signals and improve trade decision accuracy.
Chart Recommendations
Clean Chart: Use this indicator on a clean chart without additional overlays for maximum clarity.
Timeframes: Works well on intraday charts (e.g., 5m, 15m) for scalping and on higher timeframes (e.g., 1H, 4H, Daily) for swing trading.
Disclaimer
This indicator is a tool to aid trading decisions and should not be used in isolation. Always consider other factors such as market conditions, news events, and risk management.
Bollinger Bands CustomThe indicator is a customized version of Bollinger Bands with added trading signals. This indicator is designed to help traders identify potential entry (buy) and exit (sell) points based on the interaction between the price and the Bollinger Bands. Below, I will explain in detail its purpose, how it works, and how to use it.
Purpose of the Indicator
The main purpose of this indicator is:
Identify market volatility: Bollinger Bands expand and contract based on price volatility.
Provide trading signals: The indicator generates buy signals (BUY) when the price crosses the lower band and sell signals (SELL) when the price crosses the upper band.
Help identify dynamic support and resistance levels: The upper and lower bands act as dynamic resistance and support levels.
How the Indicator Works
The indicator is based on three main components:
Moving Average (SMA): It calculates the simple moving average (SMA) of the price over a specified period (length).
Bollinger Bands:
The upper band is calculated as the moving average plus a standard deviation multiplied by a factor (mult).
The lower band is calculated as the moving average minus a standard deviation multiplied by the same factor.
Trading signals:
A BUY signal is generated when the price crosses above the lower band.
A SELL signal is generated when the price crosses below the upper band.
How to Use the Indicator
Here is a step-by-step guide on how to use the indicator on TradingView:
1. Add the Indicator to the Chart
Copy the Pine Script code you created.
Open TradingView and go to the Pine Editor.
Paste the code and click "Add to Chart."
The indicator will be displayed directly on the price chart.
2. Customize the Parameters
You can customize the following parameters:
Moving Average Length (length): Set the period for the moving average (default is 20).
Price Source (source): Choose the price to use (default is the closing price).
Standard Deviation Multiplier (mult): Set the multiplier for the standard deviation (default is 2.0).
3. Interpret the Signals
BUY Signal: When you see a "BUY" label below a candle, it means the price has crossed above the lower band. This could indicate a buying opportunity.
SELL Signal: When you see a "SELL" label above a candle, it means the price has crossed below the upper band. This could indicate a selling opportunity.
4. Use Bollinger Bands as Support and Resistance
If the price approaches the upper band, it might indicate a resistance level.
If the price approaches the lower band, it might indicate a support level.
5. Monitor the Colored Background
The chart background turns light green when there is a BUY signal and light red when there is a SELL signal. This helps you quickly identify signals.
Practical Example
Suppose you are analyzing a daily chart of a stock or cryptocurrency:
If the price crosses above the lower band, the indicator will show a "BUY" label. You might consider this as a signal to open a long position.
If the price crosses below the upper band, the indicator will show a "SELL" label. You might consider this as a signal to close a long position or open a short position.
Limitations and Considerations
False signals: In range-bound markets, Bollinger Bands can generate many false signals. It is advisable to use this indicator in combination with other technical analysis tools.
Extreme volatility: During periods of high volatility, the bands expand, and signals may become less reliable.
Confirmation: It is always good practice to confirm signals with other indicators (e.g., RSI, MACD) or candlestick analysis.
Conclusion
My indicator is a useful tool for identifying potential trading opportunities based on Bollinger Bands. However, as with any indicator, it is important to use it in combination with other forms of analysis and risk management to maximize effectiveness. Happy trading! 🚀
EXPONOVA by @thejamiulEXPONOVA is an advanced EMA-based indicator designed to provide a visually intuitive and actionable representation of market trends. It combines two EMAs (Exponential Moving Averages) with a custom gradient fill to help traders identify trend reversals, strength, and the potential duration of trends.
This indicator uses a gradient color fill between two EMAs—one short-term (20-period) and one longer-term (55-period). The gradient dynamically adjusts based on the proximity and relationship of the closing price to the EMAs, giving traders a unique visual insight into trend momentum and potential exhaustion points.
Key Features:
Dynamic Gradient Fill:
The fill color between the EMAs changes based on the bar's position relative to the longer-term EMA.
A fading gradient visually conveys the strength and duration of the trend. The closer the closing price is to crossing the EMA, the stronger the gradient, making trends easy to spot.
Precision EMA Calculations:
The indicator plots two EMAs (20 and 55) without cluttering the chart, ensuring traders have a clean and informative display.
Ease of Use:
Designed for both novice and advanced traders, this tool is effective in identifying trend reversals and entry/exit points.
Trend Reversal Detection:
Built-in logic identifies bars since the last EMA cross, dynamically adjusting the gradient to signal potential trend changes.
How It Works:
This indicator calculates two EMAs:
EMA 20 (Fast EMA): Tracks short-term price movements, providing early signals of potential trend changes.
EMA 55 (Slow EMA): Captures broader trends and smoothens noise for a clearer directional bias.
The area between the two EMAs is filled with a dynamic color gradient, which evolves based on how far the price has moved above or below EMA 55. The gradient acts as a visual cue to the strength and duration of the current trend:
Bright green shades indicate bullish momentum building over time.
Red tones highlight bearish momentum.
The fading effect in the gradient provides traders with an intuitive representation of trend strength, helping them gauge whether the trend is accelerating, weakening, or reversing.
Gradient-Filled Region: Unique visualization to simplify trend analysis without cluttering the chart.
Dynamic Trend Strength Indication: The gradient dynamically adjusts based on the price's proximity to EMA 55, giving traders insight into momentum changes.
Minimalist Design: The EMAs themselves are not displayed by default to maintain a clean chart while still benefiting from their analysis.
Customizable Lengths: Pre-configured with EMA lengths of 20 and 55, but easily modifiable for different trading styles or instruments.
How to Use This Indicator
Trend Detection: Look at the gradient fill for visual confirmation of trend direction and strength.
Trade Entries:
Enter long positions when the price crosses above EMA 55, with the gradient transitioning to green.
Enter short positions when the price crosses below EMA 55, with the gradient transitioning to red.
Trend Strength Monitoring:
A brighter gradient suggests a sustained and stronger trend.
A fading gradient may indicate weakening momentum and a potential reversal.
Important Notes
This indicator uses a unique method of color visualization to enhance decision-making but does not generate buy or sell signals directly.
Always combine this indicator with other tools or methods for comprehensive analysis.
Past performance is not indicative of future results; please practice risk management while trading.
How to Use:
Trend Following:
Use the gradient fill to identify the trend direction.
A consistently bright gradient indicates a strong trend, while fading colors suggest weakening momentum.
Reversal Signals:
Watch for gradient changes near the EMA crossover points.
These can signal potential trend reversals or consolidation phases.
Confirmation Tool:
Combine EXPONOVA with other indicators or candlestick patterns for enhanced confirmation of trade setups.
Supertrend with EMAs (288 & 50)This indicator combines the Supertrend with two key Exponential Moving Averages (EMAs) — the 50 EMA and the 288 EMA — to help traders identify trends and possible entry or exit points in the market.
Key Features:
Supertrend Indicator:
The Supertrend indicator is a widely used trend-following tool. It helps determine whether the market is in an uptrend or downtrend by adjusting based on the Average True Range (ATR).
In this indicator, green represents an uptrend, and red represents a downtrend.
288 EMA:
The 288-period Exponential Moving Average is plotted to show the long-term market trend. It reacts more quickly to recent price changes than a simple moving average, offering an effective way to gauge long-term market direction.
50 EMA:
The 50-period Exponential Moving Average is commonly used as a short-term trend indicator. It helps identify shorter-term trends and serves as a dynamic support/resistance level.
EMA Crossover Alerts:
This indicator includes alerts for when the 50 EMA crosses above the 288 EMA (bullish signal) and when it crosses below (bearish signal), helping traders catch trend reversals or confirmation of current trends.
Supertrend Alerts:
Alerts are triggered when the Supertrend indicator switches from uptrend to downtrend or downtrend to uptrend, indicating a potential shift in market direction.
Usage:
Uptrend Confirmation: When the Supertrend is green and the 50 EMA is above the 288 EMA, it signals that the market is in a strong bullish trend.
Downtrend Confirmation: When the Supertrend is red and the 50 EMA is below the 288 EMA, it indicates that the market is in a bearish trend.
Crossover Signals: The indicator provides alerts when the 50 EMA crosses above or below the 288 EMA, helping traders spot trend changes.
Best For:
Trend-following strategies
Identifying potential trend reversals and market shifts
Traders looking for a combination of short-term and long-term trend analysis
Note: This indicator is most effective when used in conjunction with other technical analysis tools and should be considered alongside other factors such as volume, support/resistance levels, and price action.
GOLDEN RSI by @thejamiulGOLDEN RSI thejamiul is a versatile Relative Strength Index (RSI)-based tool designed to provide enhanced visualization and additional insights into market trends and potential reversal points. This indicator improves upon the traditional RSI by integrating gradient fills for overbought/oversold zones and divergence detection features, making it an excellent choice for traders who seek precise and actionable signals.
Source of this indicator : This indicator is based on @TradingView original RSI indicator with a little bit of customisation to enhance overbought and oversold identification.
Key Features
1. Customizable RSI Settings:
RSI Length: Adjust the RSI calculation period to suit your trading style (default: 14).
Source Selection: Choose the price source (e.g., close, open, high, low) for RSI calculation.
2. Gradient-Filled RSI Zones:
Overbought Zone (80-100): Gradient fill with shades of green to indicate strong bullish conditions.
Oversold Zone (0-20): Gradient fill with shades of red to highlight strong bearish conditions.
3. Support and Resistance Levels:
Upper Band: 80
Middle Bands: 60 (bullish) and 40 (bearish)
Lower Band: 20
These levels help identify overbought, oversold, and neutral zones.
4. Divergence Detection:
Bullish Divergence: Detects lower lows in price with corresponding higher lows in RSI, signaling potential upward reversals.
Bearish Divergence: Detects higher highs in price with corresponding lower highs in RSI, indicating potential downward reversals.
Visual Indicators:
Bullish divergence is marked with green labels and line plots.
Bearish divergence is marked with red labels and line plots.
5. Alert Functionality:
Custom Alerts: Set up alerts for bullish or bearish divergences to stay notified of potential trading opportunities without constant chart monitoring.
6. Enhanced Chart Visualization:
RSI Plot: A smooth and visually appealing RSI curve.
Color Coding: Gradient and fills for better distinction of trading zones.
Pivot Labels: Clear identification of divergence points on the RSI plot.
RY-Parabolic Stop and ReverseParabolic Stop and Reverse with Support Resistance (PSAR-SR)
Identify dynamic support and resistance levels based on price movements.
Reduce false signals often generated by the regular PSAR.
Provide more accurate trading decisions by considering previous reversal points as support and resistance.
How Does PSAR-SR Work?
PSAR Reversal Points:
When the regular PSAR generates a reversal signal, the price at that reversal point is used as support (in an uptrend) or resistance (in a downtrend).
Support and Resistance Lines:
Support: A line drawn from the previous PSAR reversal point in an uptrend.
Resistance: A line drawn from the previous PSAR reversal point in a downtrend.
Price often moves sideways between these support and resistance levels before a breakout occurs.
Breakout Above/Below Support and Resistance:
A Buy signal is generated when the price breaks above resistance with a new candle closing above it.
A Sell signal is generated when the price breaks below support with a new candle closing below it.
Strategy Using PSAR-SR
Wait for the Breakout:
Avoid buying or selling immediately when the PSAR gives a signal.
Confirm that the price breaks past the support or resistance levels and forms a new candle outside those lines.
Use Alongside Other Indicators:
PSAR-SR is not recommended as a standalone tool. Use additional confirmation indicators such as:
Moving Average: To identify long-term trends.
RSI or MACD: To confirm momentum or overbought/oversold conditions.
Advantages of PSAR-SR
Reduces False Signals:
By focusing on previous support and resistance levels, PSAR-SR avoids invalid signals.
Helps Identify Breakouts:
It provides better insight for traders to enter the market during valid breakouts.
Limitations of PSAR-SR
Not Suitable for Sideways Markets:
If the price moves sideways for an extended period, the signals may become less effective.
Requires Additional Confirmation:
Should be used in combination with other indicators to improve accuracy.
Conclusion
PSAR-SR is a helpful tool for identifying dynamic support and resistance levels and generating buy/sell signals based on price breakouts. However, it should always be used with additional indicators for confirmation to avoid false trades.
Disclaimer:
Use this indicator at your own risk, and always perform additional analysis before making any trading decisions.
If you'd like further clarification or examples of how to apply this to a chart, feel free to ask! 😊
Fibonacci Trend - Aynet1. Inputs
lookbackPeriod: Defines the number of bars to consider for calculating swing highs and lows. Default is 20.
fibLevel1 to fibLevel5: Fibonacci retracement levels to calculate price levels (23.6%, 38.2%, 50%, 61.8%, 78.6%).
useTime: Enables or disables time-based Fibonacci projections.
riskPercent: Defines the percentage of risk for trading purposes (currently not used in calculations).
2. Functions
isSwingHigh(index): Identifies a swing high at the given index, where the high of that candle is higher than both its previous and subsequent candles.
isSwingLow(index): Identifies a swing low at the given index, where the low of that candle is lower than both its previous and subsequent candles.
3. Variables
swingHigh and swingLow: Store the most recent swing high and swing low prices.
swingHighTime and swingLowTime: Store the timestamps of the swing high and swing low.
fib1 to fib5: Fibonacci levels based on the difference between swingHigh and swingLow.
4. Swing Point Detection
The script checks if the last bar is a swing high or swing low using the isSwingHigh() and isSwingLow() functions.
If a swing high is detected:
The high price is stored in swingHigh.
The timestamp of the swing high is stored in swingHighTime.
If a swing low is detected:
The low price is stored in swingLow.
The timestamp of the swing low is stored in swingLowTime.
5. Fibonacci Levels Calculation
If both swingHigh and swingLow are defined, the script calculates the Fibonacci retracement levels (fib1 to fib5) based on the price difference (priceDiff = swingHigh - swingLow).
6. Plotting Fibonacci Levels
Fibonacci levels (fib1 to fib5) are plotted as horizontal lines using the line.new() function.
Labels (e.g., "23.6%") are added near the lines to indicate the level.
Lines and labels are color-coded:
23.6% → Blue
38.2% → Green
50.0% → Yellow
61.8% → Orange
78.6% → Red
7. Filling Between Fibonacci Levels
The plot() function creates lines for each Fibonacci level.
The fill() function is used to fill the space between two levels with semi-transparent colors:
Blue → Between fib1 and fib2
Green → Between fib2 and fib3
Yellow → Between fib3 and fib4
Orange → Between fib4 and fib5
8. Time-Based Fibonacci Projections
If useTime is enabled:
The time difference (timeDiff) between the swing high and swing low is calculated.
Fibonacci time projections are added based on multiples of 23.6%.
If the current time reaches a projected time, a label (e.g., "T1", "T2") is displayed near the high price.
9. Trading Logic
Two placeholder variables are defined for trading logic:
longCondition: Tracks whether a condition for a long trade is met (currently not implemented).
shortCondition: Tracks whether a condition for a short trade is met (currently not implemented).
These variables can be extended to define entry/exit signals based on Fibonacci levels.
How It Works
Detect Swing Points: It identifies recent swing high and swing low points on the chart.
Calculate Fibonacci Levels: Based on the swing points, it computes retracement levels.
Visualize Levels: Plots the levels on the chart with labels and fills between them.
Time Projections: Optionally calculates time-based projections for future price movements.
Trading Opportunities: The framework provides tools for detecting potential reversal or breakout zones using Fibonacci levels.
P/L CalculatorDescription of the P/L Calculator Indicator
The P/L Calculator is a dynamic TradingView indicator designed to provide traders with real-time insights into profit and loss metrics for their trades. It visualizes key levels such as entry price, profit target, and stop-loss, while also calculating percentage differences and net profit or loss, factoring in fees.
Features:
Customizable Input Parameters:
Entry Price: Define the starting price of the trade.
Profit and Stop-Loss Levels (%): Set percentage thresholds for targets and risk levels.
USDT Amount: Specify the trade size for precise calculations.
Trade Type: Choose between "Long" or "Short" positions.
Visual Representation:
Entry Price, Profit Target, and Stop-Loss levels are plotted as horizontal lines on the chart.
Line styles, colors, and thicknesses are fully customizable for better visibility.
Real-Time Metrics:
Percentage difference between the live price and the entry price is calculated dynamically.
Profit/Loss (P/L) and fees are computed in real time to display net profit or loss.
Alerts:
Alerts are triggered when:
The live price hits the profit target.
The live price crosses the stop-loss level.
The price reaches the specified entry level.
A user-defined percentage difference is reached.
Labels and Annotations:
Displays percentage difference, P/L, and fee information in a clear label near the live price.
Custom Fee Integration:
Allows input of trading fees (%), enabling accurate net profit or loss calculations.
Price Scale Visualization:
Displays the percentage difference on the price scale for enhanced context.
Use Case:
The P/L Calculator is ideal for traders who want to monitor their trades' performance and make informed decisions without manually calculating metrics. Its visual cues and alerts ensure you stay updated on critical levels and price movements.
This indicator supports a wide range of trading styles, including swing trading, scalping, and position trading, making it a versatile tool for anyone in the market.
KB Dinamik Grid Bot V8 TrailingThis Pine Script code aims to create a "Dynamic Grid Trading Bot" and perform automatic trading between price ranges. Let's break it down into sections to better understand its functions:
1. Settings and User Inputs
The user can specify the following parameters for the bot:
Lower and Upper Price Limit: Determines the price range where the grid levels are defined.
Number of Grid Lines: Defines how many levels the grid will consist of.
Transaction Amount: Specifies the trading volume for each trading transaction.
Start Date: The date when the bot will start trading.
Price Step (priceStep): Specifies specific steps after the comma to adjust the grid levels more precisely.
Trailing: A feature that activates dynamic selling by following price movements.
2. Calculating Grid Levels
Grid levels: Divides the specified price range into user-defined levels and rounds each level with priceStep.
Lines and labels: Lines and labels are created to visually represent grid levels.
3. Buying and Selling Logic
Buying Transaction: When the price approaches a lower grid level (as much as the offset) and the position is empty, a purchase is made.
Trailing Selling: If Trailing is active, a sale is made when the price passes the specified "trailing step" level.
Normal Selling: If Trailing is not active, a sale is made when the price approaches an upper grid level.
4. Profit and Statistics Tracking
The bot tracks the profit-loss status per transaction and in total.
The number of purchases and sales and net profit information are calculated from the start date.
5. Table Display
The bot places statistical data in a table:
Number of purchases and sales.
Starting date.
Total number of transactions.
Net profit.
Amount of open positions.
6. Drawing and Tracking
Each price movement is updated and the color of the grid lines (green or red) is changed depending on the price's status relative to the level.
This code is a strategy that aims to make a profit by continuously buying and selling in the event of price fluctuations within a range. The "Trailing" feature allows you to keep your profits when the price moves upwards. Net profit, open positions and other statistics are displayed in the table.
TDGS Dynamic Grid Trading Strategy [CoinFxPro]Advanced Dynamic Grid Trading Strategy
Logic and Working Principle:
This strategy uses a dynamic grid system to support both long and short trades. Grid trading aims to capitalize on price fluctuations within a predefined range by executing buy and sell orders systematically. The system calculates grid levels based on a base price and dynamically trades within these levels.
Grid Levels:
Grid levels are calculated based on the initial price and the user-defined grid spacing percentage.
Long Mode: Buys when the price decreases and sells when the price increases.
Short Mode: Sells when the price increases and buys when the price decreases.
Grid Updates:
Grid levels are recalculated based on the market price when the price moves by a user-defined update percentage.
For example;
In Long mode, when the price shows an upward trend, that is, when it rises by the Grid Update Percentage specified by the user, Grid levels are recreated and trades are made according to the new grid levels. While the price and grid levels are updated according to the new price, the Stop level is also updated upwards and the stop is followed with the TrailingStop logic.
In short mode, the same system operates with reverse logic. In other words, as prices decrease downwards, the grids are updated downwards when the Grid update percentage determined by the user decreases. The stop level is also updated accordingly.
The difference of the strategy from other Gridbots is that the grid levels are automatically updated and the levels are recreated with the price percentage difference determined by the user. Old levels can be tracked on the chart.
As the price updates, the self-updating grid levels are updated upwards in long mode and downwards in short mode.
The number of buying lots and selling lots are separated, allowing both trading within the position and the opportunity to collect lots and increase the position.
When trading with the grid trading logic, when buying and selling between grids, there is no repeated purchase at the same level unless there is a sale at the upper grid level. In this way, each level will be traded within itself.
For example, in a long condition, when the price is going up, after deducting the selling lot from the buying lot at each level, the remaining lots will be collected while the price is going up and an opportunity will be provided from the price rise.
Different preferences have been added to the profit taking conditions, allowing the robot to continue or stop after profit taking, if desired.
The system, which acts entirely according to user parameters, constantly updates itself as long as it moves in the direction determined by itself, and in these conditions, transactions are carried out according to profit or stop conditions.
Parameters:
Grid Parameters:
Settings such as buy lot size, sell lot size, grid count, and grid spacing percentage allow flexibility and customization.
Risk Management:
Stop loss (%) and take profit (%) levels help limit potential losses and secure profits at predefined thresholds.
Objective:
The goal of this strategy is to systematically capitalize on market price fluctuations through automated grid trading. This method is particularly effective in volatile markets where the price oscillates within a specific range.
The strategy works with a complete algorithm logic, and in appropriate instruments (especially instruments with depth and transaction volume should be preferred), buying and selling transactions are made according to the parameters determined at the beginning, and if the conditions go beyond the conditions, the stop is made, and when the profit taking conditions are met, it takes profit and prices according to the determined value. When it is updated, the values are updated again and the parameter works algorithmically.
Risk Management Recommendations:
Initial Capital: Grid trading involves frequent transactions, so sufficient initial capital is essential.
Stop Loss: Always set stop loss levels to prevent significant losses.
Grid Count and Spacing: A higher number of grids provides more trading opportunities but using grids that are too close may increase transaction costs due to small price movements.
First of all, it is important for risk management that you choose instruments that have depth and high transaction volume.
Strategy results may differ as a result of the parameters entered. Therefore, before trading in your real account, it is recommended that you start real transactions after backtesting with different parameters.
If you are stuck on something, you can mention it in the comments.
Bollinger Bands color candlesThis Pine Script indicator applies Bollinger Bands to the price chart and visually highlights candles based on their proximity to the upper and lower bands. The script plots colored candles as follows:
Bullish Close Above Upper Band: Candles are colored green when the closing price is above the upper Bollinger Band, indicating strong bullish momentum.
Bearish Close Below Lower Band: Candles are colored red when the closing price is below the lower Bollinger Band, signaling strong bearish momentum.
Neutral Candles: Candles that close within the bands remain their default color.
This visual aid helps traders quickly identify potential breakout or breakdown points based on Bollinger Band dynamics.
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M-Score Indicator with TP/SLM-Score Indicator with TP/SL
Optimized for BTCUSDT.P Binance 5min
Buy : Enter Long Position
Sell : Enter Short Position
Green Line : TP
Red Line : SL
White Line : EP
Pivot Market StructureDescription and Features
This script is designed to enhance technical analysis by identifying key market structure levels. It uses a price action trail (based on the last highest/lowest price) and pivot points to track market trends, offering insights into potential reversal zones or trend continuation signals.
How the Script Works
High/Low Trail Logic: The script includes a trail mechanism that compares the current price with the last highest and lowest price, determining whether the price has breached these levels. This helps pinpoint key price action events and potential trend shifts. Unlike pivot points the price action trail is more responsive changes within the market structure.
Step Size and Length for High/Low Trail:
- The Step Length parameter defines how many bars are used to compare the current price against the last highest/lowest price, providing a measure of price extremes.
- The Length parameter determines the number of bars considered for calculating the highest/lowest price since the last price action event (either price surpassing a previous high or dipping below a previous low).
Pivot Point Calculation: Pivot Point Highs are calculated by the number of bars with lower highs on either side of a Pivot Point High calculation. Similarly, Pivot Point Lows are calculated by the number of bars with higher lows on either side of a Pivot Point Low calculation. The script draws a line from/to every calculated pivot point to highlight market structure extremes. It can optionally extend these pivot lines to the left for added context, providing historical reference for decision-making.
Summary
By combining both pivot analysis and price action trailing techniques, the script provides a comprehensive view of a pivot point based market structure.
Enhanced Renko Channel with Emulation and SMA by Dr DevendraThis indicator combines a dynamic Renko-based channel with emulated Renko bricks and a customizable Simple Moving Average (SMA). It provides traders with a powerful tool for identifying trends, visualizing price movement within a Renko framework, and overlaying critical moving average signals.
Features:
Renko Channel:
A Gaussian-based midline with adjustable poles and sampling periods.
True Range-based dynamic channel boundaries.
Visual trend identification with color-coded channel fills.
Renko Emulation:
Emulated Renko brick levels with adjustable brick sizes.
Dynamic brick plotting based on price action.
Simple Moving Average (SMA):
Configurable length and source (e.g., close, hlc3, etc.).
Dynamic color changes based on SMA slope (uptrend or downtrend).
Customizable Inputs:
Adjustable parameters for the channel, Renko emulation, and SMA settings.
Options for reduced lag and fast response modes in the Renko channel.
HKM - Renko Emulator with EMA TrendThis is a Renko based Emulator to plot on any chart type which prints the box as printed on a Renko charts and is a Non-Repaint version. You can use either Traditional or ATR Method on current chart Timeframe. Option to plot an EMA Line is provided with Trend indication.
