Mulai

Analisis Candlestick

Point and Figure Chart - LiveHello Traders, This is "Point and Figure Chart (PnF)" script that run in separated window in real time. The separated PnF chart window is timeless, so no relation with the time on the chart. PnF chart consist of "X" and "O" columns. While "X" columns represents rising prices, "O" column represents a falling price. If you have no idea about what PnF charting is then you should search for "Point and Figure Charting" on the net and get some info before using this script. Now lets talk about details. PnF Chart requires at least two variables to be set => Box size and Reversal. Box size represents the size of each X/O in PnF chart and the reversal is used to calculate new X/O or reversal. for example if currrent column is X column then for new "X", "box size * 1" move is needed and for new "O" column or reversal, "box size * revelsal" move is needed. in the script I use lines as X/O columns. In the options you can set "Box Size Assingment Method". you have 3 options Traditional, ATR, Percentage . what are they? Traditional: user-defined box size, means you can set the box size as you wish, using the option . if you use this option then you should set it accordingly. ATR : that's dynamic box size scaling and on each columns it's calculated once, you can set length for ATR Percentage: that's also dynamic box size scaling according to closing price when new column appeared. if you use this option then you should set it accordingly. Reversal: The reversal is typically 3 but you can change it as you wish "Change Bar Color by PnF Trend": if you enable this option then bar color changes by PnF columns, by default it's not enabled "Change Column Color When Breakout Occurs": PnF color changes if Double Top/Bottom breakout accours. enabled by default and you can set the colors as you wish using the options "Change Bar Color When Breakout Occurs": bar colors changed if Double Top/Bottom breakout accours. enabled by default and you can set the colors as you wish using the options the script checks only Double Top/Bottom breakouts at the moment. there are many other breakouts such Triple/Quadruple, Ascending/Descending Triple Top/Bottom breakouts, Catapult etc. Also the script shows new X/O level and reversal Levels in PnF window. An example: If you enable "Change Bar Color by PnF Trend" option: An example if you disable the option "Change Column Color When Breakout Occurs You may want to see my another/older "Point and Point Chart" script as well. you can find it in my profile/published scripts and in the Public Library. I use same PnF calculation algorithm in both scripts. Enjoy!
Indikator Pine Script™
oleh LonesomeTheBlue
28
D Closes [Intromoto]It's kind of annoying no having a reference of higher time frames when trading intraday. This script is one level from the "closes" script, but as an individual script, this allows more historical closes to be observed at once. Shows daily closes from the exact candle, regardless of time frame. Number of lines plotted is limited by tradingview/pinescript, show will only show a certain number i.e recent daily levels. Lines can be styled by user: Thickness, solid vs dotted vs dashed, range of colors, label size and X location. The "line.new" function requires that you 'show' the indicator where the close occured, in order to have the line show. The labels are there regardless and will remind you of the level, with or without the line. This is also true if you change chart resolution. You may have to 'search' for the close to have the line show up. DM for access. Thanks!
Indikator Pine Script™
oleh Intromoto
Tweezers and Kangaroo TailHello Traders, Here Tweezers and Kangaroo Tail script is in your service. The script searches for Tweezer / Kangaroo Tail candlestick patterns and shows them as T (Tweezer) and K (Kangaroo Tail). Thanks to RorschachT who game me the idea and some details while working on this script. What are these candlestick patterns? Tweezers : - A tweezers pattern occurs when the highs/Lows of two candlesticks occur at almost exactly the same level - Both candles must have wicks - Bigger Wick / Smaller Wick rate should not be greater than 150% ( 150% by default and you have option to change it) - First Candle must be highest/lowest for last 5 candles (5 by default and you have option to change it) - The level of High for Top, Low for Bottom must be almost lower than 20% of the bigger wick of tweezer candles (20% by default and you have option to change it) - The Candles can be right next to each other or apart but not more than 12 candles apart (12 by default and you have option to change it) - You will see that Tweezers pattern occurs frequently Kangaroo Tail: - Looks almost like a Hammer or Inverted Hammer candle - They have both its open and close in the top or bottom third of the candle - There must be some space/room on the left of the kangaroo tail - The open and close of the Kangaroo Tail candle must be inside the range of the previous candlestick - The next candle should create a new high or new low - You have several options to set details about the "Room" that should be on the left and also options for Wick/Body rates - You can see example below You have option to enable/disable any of these patterns. as far as I have tested they are strong reversal patterns but none of the indicators or patterns may not be enough alone. so you should confirm the signals using other indicators or tools If you need more information you can find a lot of info on the net ;) Example: Tweezers - Aparted Example: Kangaroo Tail - Bullish Enjoy!
Indikator Pine Script™
oleh LonesomeTheBlue
43
High timeframe Highs, Lows, Opens, Closes. HTF Candles displayPosting previously requested indicator. Overlays higher timeframe high and low over the current bars - pictured is daily high and low overlayed on lower timeframe chart. Can be set to fill between the open and close to show higher timeframe candles by color, with bullish or bearish fills Very versatile and can be used to display weekly or monthly opens, or used to display previous weekly highs and lows for charting out possible liquidity points, etc. Originally converted from Chris Moody's HLOC pine version 2 indicator.
Indikator Pine Script™
oleh BryceWH
4
[TS] S/R TweezersThe Tweezers pattern is a minor trend reversal pattern that consists of two candlesticks with more or less the same high or the same low or some variation thereof. The user can adjust this variation by changing the 'Tweezer Wick Percentage' input. The Tweezers Bottom pattern generally appears in a downtrend with the first candlestick being a bearish candlestick, followed by a bullish candlestick. The Tweezers Top pattern generally appears in an uptrend. The first candlestick in this pattern is a bullish candlestick followed by a bearish candlestick. To further confirm the trend reversal, we've added an Engulfing filter. If this option is enabled, the indicator will only show Tweezer signals that also engulf the previous 1 or 2 candles. We've also included a S/R Lookback Filter that will search for previous Support/Resistance Zones and only display those Tweezers that are within those zones. The candle lookback period is fully adjustable. The Support/Resistance zones are based on Swing Points, which length can be adjusted by the user. The user can also change the width of the S/R zones, by adjusting the input 'S/R Zone ATR Multiplier'
Indikator Pine Script™
oleh TrustedSignals
6
Kangaroo Tail Pro Indicator Kangaroo Tail Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos. The Kangaroo Tail is a multi-bar pattern. The Kangaroo Tail is both simple and very effective pattern to trade. The strategy that comes with the Kangaroo Tail is based on price action. The indicator does what it was designed for: displaying Kangaroo Tail patterns. Don't expect to follow the up and down arrows and make money. Trading is not that simple. The Kangaroo Tail pattern is a starting point. The arrow is not a confirmed BUY and SELL signal in itself. The Kangaroo Tail indicator alerts you that the market might be at a turning point now. Then you must use other elements of your strategy (trend, momentum, support/resistance, volatility, daily bias, and other indicators) to confirm the signal and place a trade. The Kangaroo Pro version lets users adjust the pattern definition. This version is meant for expert traders who want to use their own optimized settings for the pattern. Inputs of the indicator are: MaxBars: number of bars back used to calculate the indicator Automatic(true/false): you can either use the defaults conservative settings (automatic=true) or use your own settings (automatic=false). BuySignals (true/false): you can filter signals and decide to show BUY signals or not. Default settings is true (no filter). SellSignals (true/false): you can filter signals and decide to show SELL signals or not. Default settings is true (no filter). CandleSize: filter signals depending on the size of candle (0.5 to 1.5 recommended range of values) BodyPercent: position of body compared to the complete candle range (0.2 to 0.4 recommended range of values) RoomLeftBars: room on the left you want to have for valid pattern (counted as a number of bars, recommended values of 5 to 30). Alerts: The alerts are managed by TradingView trading platform features and not by the indicator itself. You must use Kangaroo Sell less than zero and Kangaroo Buy greater than zero as settings for the alerts. Beware that TradingView limits the number of alerts you can receive according to the plan you subscribed with the platform. Beware that alerts are managed by TradingView trading platform features and not by the indicator itself. We provide settings for alerts as a courtesy. If you have problems with alerts or need special settings then please contact TradingView support since alerting is not a feature managed by the indicator. Trading rules: For BUY: wait for a bullish Kangaroo Tail to print on a support zone after a down trend. Wait for price to break high of the Kangaroo Tail candle (5 pips above the high for H1 and higher time frames). Immediately enter in the trade once high is broken. You also can use a BUY STOP order placed 5 pips above the high of the candle (plus spread). Stop Loss should be placed below the low of the Kangaroo Tail candle. If order is not triggered in the next candle then trade is invalidated and should be canceled. For SELL: wait for a bearish Kangaroo Tail to print on resistance zone after an up trend. Wait for price to break the low of the Kangaroo Tail candle (5 pips below the low for H1 and higher time frames). Immediately enter in the trade once low is broken. You also can use a SELL STOP order place 5 pips below the low of the candle. Stop Loss should be placed above the high of the Kangaroo Tail candle. If order is not triggered in the next candle then trade is invalidated and should be canceled. The Kangaroo Tail indicator can be used with any time frame. The Kangaroo Tail indicator can be used with any class of assets: Forex, Stocks, Indices, Futures, Commodities and Cryptos. Beware that in accordance with TradingView rules, we cannot update this description over time. At the time you are reading this description it might be outdated. We recommend you to visit our website for up to date information.
Indikator Pine Script™
oleh renaudcandel
7
tradershedge Dear Traders, This script will get a smile on most of the pivot and price action traders. My trading skills have drastically improved after learning the concepts of central pivot point, supply and demand and more importantly understanding of the simple candle stick patterns. This is my experiment of decoding the above mentioned concepts to simple trading setups which can be used across any instruments and across any timeframes. The most essential and must skills required in order to achieve profits in trading is to identify the right trend, exact entry and exits, risk management and importantly understanding the market structure along with the traders emotion. Let’s just decipher each of the essential skills along the tools we will be using for analyzing each of the section TREND ANALYSIS Central pivot range ( CPR ) : is used to identify the market structure and the major trend of the instrument you are going to trade. This will help in identifying the mean reversions & trending trade setups in the market. Developing Dynamic Pivots & Future Targets This setup will help us in decoding the closing and opening market sentiment and will help us in planning our trade upfront. This home work in post & pre-market session will increase the odds of the trade in our favor to a great extent. Trend Identification & Dynamic Support & Resistance I have also included the Pivot based exponential moving average (PEMA) to visually identify the current trend and it also shows the current trend by dynamically changing the colors for bull & bear market in the PEMA zone. VALUE AREA We know that the market works on supply and demand and when the price arrives at these zones the market reacts very faithfully. Hence it’s very important for a trader to know in advance where these levels exist before entering the market. This Indicator bridges this gap by showing in advance the future value areas where the price reaction can be expected and trades can be planned accordingly. Hence it can anticipate the market move with a strong logic behind us rather than leaving the trader in surprise. This value area zone will be highlighted in different colors on the chart will be grab your attention and help in planning your trade accordingly. Market Sentiment Each market session is a story in itself which is been scripted by the movements of each candle sticks, hence if we understand the relationship between each candles as it is getting formed we can predicate the future candle stick formation to a great extent. i have coded the indicator triggers which reads the relationship between each candles and shows signals of reversals and also give traders alerts when the price rejection occurs. Various shapes of rejection signs are plotted for bullish and bearish reversals which help in prediction the strength of the price rejection which will help the trader in planning his trade. The various shapes in the order of strength are diamond, square, arrows, and triangle respectively. Entry & Exits The volatility is the key in predicting the market movement. If we identify the trend correctly then all we have to do is set our expectations accordingly for the targets based on the volatility of the instrument. The indicator basically captures the recent volatility for the specified look back period and plots across the possible price movements for the current session. Based on your entry setups you can get a reference of the maximum targets we can expect with the help of the levels the indicator plots. Please do feel free to use the indicator and give your valuable feed backs which will help me in optimizing it to a great extent. I am in the process of optimizing the price triggers to a greater extent and also dynamically plot the possible demand and supply zones in coming future. I would love to thank each of the traders in this TradingView community in helping me improve on my trading skills. Happy Trading !
Indikator Pine Script™
oleh RaviChandran_Rajkumar
69
False BreakoutA false breakout is when the price temporarily moves above or below a key support or resistance level, but then later retreats back to the same side as it started. The “False Breakout” indicator reveals false breakouts in comparison to the previous candle. In case we're looking to trade the stock for long this would mean that the price of the stock broke the previous low (support) and then got back above that low. In case we're looking to trade the stock for short then a false breakout would mean the stock broke the previous high (resistance) and then got back below that high. How to use the indicator? First choose the direction you're looking to trade, meaning either long or short. Then choose how strict you want to be about the Falls brakes. There are three options: The first option named “All“ means that it's enough that the stock broke the previous level and then get back to the original side. The second option is “Supporting Change” meaning not only that the stock broke the previous key level (support or resistance), but also the change at the end of the candle is supporting the main direction - meaning the change is positive for long or negative for short. The third option is “Engulfing”. This is a well-known candle, but to make it clear, in our case “Engulfing” means that not only the stock broke the previous level but it also ended the day on the other side of the candle - higher than the previous high, in case of long, and lower than the previous low, in case of short. When you choose the level of strictness you determine how many indications you're going to get on the chart. If you choose the highest level of strictness, meaning “Engulfing”, you would only see the red flags indicating engulfing candles. If you choose the lowest level of strictness, meaning “All”, you will get more indications on your chart, including every false breakout. When the direction you're looking for is long, all indications would appear below the candles. When the direction you're looking for is short, then all indications would appear above the candles. The Engulfing candles are represented by Red flags, and the Simple breakouts candles are represented by yellow. All colors may be adjusted to your preference. Explaining the example above: In the chart above we can see two consolidations. At the end of each consolidation, we can see a candle with an indication from the indicator that points out that this could be the end of the consolidation and the stock might continue its move. In “consolidation 1” we can see that there is an orange flag below the candle right before the stock began to move up again. In “consolidation 2” we can see that there is a red flag below the candle, right before the stock began another move. Wishing you all the best :)
Indikator Pine Script™
oleh yehonatan.bus
7
ImbalanceOf the three consecutive candles, the state where the space between the first and third wicks not filled is called imbalance. This indicator visualizes those imbalances. How to use: Used to recognize sudden supply and demand fluctuations that have occurred in the market. 3つの連続するローソクのうち、1つ目と3つ目のヒゲからヒゲの間が埋まっていない状態をインバランスという。 このインジケーターは、それらのインバランスを可視化するものである。 使い方；マーケット場で起こった急激な需要と供給の変動を認識するのに用いる。
Indikator Pine Script™
oleh wolf_trader155
45
Divergence for Many Indicators v4Hello Traders, Here is my new year gift for the community, Digergence for Many Indicators v4 . I tried to make it modular and readable as much as I can. Thanks to Pine Team for improving Pine Platform all the time! How it works? - On each candle it checks divergences between current and any of last 16 Pivot Points for the indicators. - it search divergence on choisen indicators => RSI , MACD , MACD Histogram, Stochastic , CCI , Momentum, OBV, VWMACD, CMF and any External Indicator ! - it checks following divergences for 16 pivot points that is in last 100 bars for each Indicator. --> Regular Positive Digergences --> Regular Negative Digergences --> Hidden Positive Digergences --> Hidden Negative Digergences - for positive divergences first it checks if closing price is higher than last closing price and indicator value is higher than perious value, then start searching divergence - for negative divergences first it checks if closing price is lower than last closing price and indicator value is lower than perious value, then start searching divergence Some Options: Pivot Period: you set Pivot Period as you wish. you can see Pivot Points using "Show Pivot Points" option Source for Pivot Points: you can use Close or High/Low as source Divergence Type: you can choose Divergence type to be shown => "Regular", "Hidden", "Regular/Hidden" Show Indicator Names: you have different options to show indicator names => "Full", "First Letter", "Don't Show" Show Divergence Number: option to see number of indicators which has Divergence Show Only Last Divergence : if you enable this option then it shows only last Positive and Negative Divergences you can include any External Indicator to see if there is divergence - enable "Check External Indicator" - and then choose External indicator name in the list, "External Indicator" - External indicator name is shown as Extrn - related external indicator must be added before enabling this option Coloring, line width and line style options for different type of divergences. Following Alerts added: - Positive Regular Divergence Detected - Negative Regular Divergence Detected - Positive Hidden Divergence Detected - Negative Hidden Divergence Detected Now lets see some examples: Hidden Divergences: Regular and Hidden Divergences together: Showing first letters of indicators: You can see only the number of indicators which has divergence: You can see only divergence lines without indicators names and numbers: option to used different label/line/text colors: You have option to see only last divergences: You can change Pivot Period, in following example Pivot Period = 15: You can use Close or High/Low as Source for Divergence You can include external indicators and get divergences on it: Wish you all a happy new year! Enjoy!
Indikator Pine Script™
oleh LonesomeTheBlue
665
Position Size Calculator w/ profit targetsThis script helps the user visualize profit targets and calculates position size based on the input risk amount. Input variables: - Risk amount - Entry price - Stop loss amount - Profit target amount Calculated variables: - Profit loss ratio - Position size - Postion cost Plotted variables: - shaded: entry price --> price target (green filled) - shaded: entry price --> stop loss target (red filled) - 1:1 p/l ratio --> yellow line - 2:1, 3:1, 4:1 p/l ratios --> green lines Overlay text can be toggled on/off in parameter input section
Indikator Pine Script™
oleh trialanderror
3
EMA ATR Engulfing CandlesThis is good old EMA (Exponential Moving Average) with a twist. The EMA line is surrounded by ATR on either side giving you visibility on how market breadth is working out. The icing on this cake is in the form of engulfing candle indications. Whenever the engulfing candle happens to be inside the size (that's upper and low ATR area limits around EMA) and the engulfing candle has closed in the appropriate direction, the signal triangle comes up. To understand this... The signal appears only if one of OHLC price point of engulfed and/or engulfing candles are within upper and lower ATR areas around EMA When there is a bullish engulfing candle, and the close of the candle is above EMA, a green triangle comes up below the candle When there is a bearish engulfing candle and the close of the candle is below EMA, a red triangle comes up above the candle The settings enable you to set the following Length of EMA (default is 200) Length of ATR (default is 12) Resolution of EMA independent of the chart timeframe (default is Daily) Price type (default is hlc3) Trade zone width in number of ATRs on either side of EMA (default is 1) Other settings to adjust display I have been using this in different timeframes to generate signals and found that it generates pretty good alpha. Feel free to write to me if you have any ideas that can improve this further or if you wish to discuss how to properly use this.
Indikator Pine Script™
oleh TradingIndian
2
LPS PLSY INDICATOR for VSA( Google translation from Russian.) Signal conditions: 1. There is a bar with an increased volume 2. The next bar after the bar with increased volume closes in the other direction Arguments: Comparison period - the period during which the volumes are compared with each other to calculate the bars with the increased volume. sensitivity of increased volumes - according to the percentrank indicator - the border above which the volume will be considered large, the same as in the Volume on bar VSA indicator - indicator V2 - for clarity of how it works, I recommend looking at it. efficiency of the next bar - (efficiency of the next bar from 0 to 100) ") - the efficiency of buying or selling on the next bar, bar field with a large volume. If the value is closer to 100, then the bars whose spread corresponds to the inserted volume will be taken into account, if closer to 0, then bars with a small spread and a large volume can be taken into account. This argument is calculated similarly to the efficiency of bulls and bears for VSA Attention. In its original form, this indicator can give a large number of false signals. To filter out false signals, it should be used after studying the theory of VSA. Russian language Условия для сигнала: 1. Имеется бар с повышенным объёмом 2. Следующий бар после бара с повышенным объемом закрывается в другую сторону Аргументы: период для сравнения – период, на котором сравниваются между собой объёмы, для вычисления баров с повышенным объемом. чувствительность повышенных объемов – согласно индикатору percentrank – граница выше которой̆ объем будет считаться большим, то же самое, что в индикаторе Volume on bar VSA - indicator V2 – для наглядности как это работает рекомендую посмотреть его. эффективность следующего бара от 0 до 100 - эффективность покупок или продаж на следующем баре, поле бара с большим объемом. Если значение ближе к 100 то будут учитываться бары у которых спред соответствует вложенному объему, если ближе к 0 то могут учитываться бары у которых спред маленький а объем большой. Расчёт этого аргумента производится аналогично индикатору efficiency of bulls and bears for VSA Примечание В исходном виде этот индикатор может давать большое количество ложных сигналов. Для отсеивания ложных сигналов его следует применять после изучения теории VSA.
Indikator Pine Script™
oleh Alex_Dyuk
2
MTF_HA & CANDLE [by coral1213]Hi traders. This is a multi-timeframe Heikin-Ashi candle chart script. There is no repaint. This is used when you want to see a high time frame Heikin-Ashi candle on the candlestick chart. 1. HTF RESOLUTION = Frame of output candle... 1H=60, 4H=240, 1D=1D, 1W=1W... 2. HTF SOURCE TYPE = Selects the target chart mode for the output candle... Candlestick of HighTimeFrame or Heikin-ashi of HighTimeFrame 3. HTF RESOLUTION HIGHLIGHT = Marks the beginning of the selected resolution. For better visibility, it is recommended to turn off the optional border color. Enjoy Trade
Indikator Pine Script™
oleh coral1213
5
ProjectionGreetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: www.tradingview.com). This one is called Projection. Projection is based off the same Principle as some of my other scripts, such as Trade Manager() and Price Predictor(). I use a simple concept using line.new() to define some potential Price Projections. From the Settings of the Indicator, you can access a couple different Pre-Set options. Wide Parabola: Skinny Parabola: Straight Triangle: ZigZag1: ZigZag2: I wanted to give a Special Thanks to @Pinecoders for the custom RoundToTick Function from Backtesting/Trading Engine --> () If you like Projection, be sure to Like, Follow, and if you have any questions, don't be afraid to drop a comment below.
Indikator Pine Script™
oleh DrCatherineHalsey
17
User-Inputed Time Range & FibsGreetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: www.tradingview.com). This one is called User-Inputed Time Range & Fibs. The idea behind this script is to record the Range Highs and Lows of a User Defined Period, and plot potential Targets based on either Fibonacci Extensions or a Multiple of the Range Size. I created this originally for use with the US Session Initial Balance(From 9:30-10:30AM EST), however it can be set to any time period. What is Initial Balance? In simple words, Initial Balance (IB) is the price data, which are formed during the first hour of a trading session. Activity of traders forms the so-called Initial Balance at this time. This concept was introduced for the first time by Peter Steidlmayer when he presented the market profile to traders(atas.net). The IB is monitored as a break-out area for Range Extension traders. The IB High is also seen as an area of resistance and the IB Low as an area of support until it is broken(www.mypivots.com). As a note, depending on the Time Zone you are in, you may need to manually add or subtract from the Timed Range to match the desired Time. For example in NY Eastern Time, I have to use 8:30-9:30AM to Capture the 9:30-10-30AM IB for ES and NQ. Similarly, I must use 14:30-15:30PM to Capture the 9:30-10-30AM IB for BTC. You will need to make adjustments based on the Time Zone you are located in. I wanted to give a Special Thanks to @PineCoders for the Custom Rounding Function from Backtesting/Trading Engine--> (), Pinecoders.com for help with Tracking the Highs/Lows--> (www.pinecoders.com), and @TradeChartist for allowing me to use some of the code for the Fibonacci Extensions from his script here--> (). If you like User-Inputed Time Range & Fibs, be sure to Like, Follow, and if you have any questions, don't be afraid to drop a comment below.
Indikator Pine Script™
oleh DrCatherineHalsey
13
Price PredictorGreetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: www.tradingview.com). This one is called Price Predictor. How To Use Price Predictor Price Predictor acquires potential targets by measuring the Average Change of Price from a user-defined resolution, from Open to Open. By default, the Resolution is set to 1 Day, however you can play around with Weekly, Monthly, etc. When a new resolution period begins, Price Predictor will automatically adjust based on the new Average Change of Price. Due to the avoidance of Security() in this script, you may have to play around with the Timeframe that you use it in to ensure that you have enough bars on your chart to process the User-Defined Resolution. The first Target Zone represents Target 5 of my other script, Trade Manager()(Given that you set the Target Multiple and Default Threshold Inputs as the same in each script), and is the most likely to be hit before the end of the resolution period. In addition to a User-Defined Resolution, you also have the option of using a Custom Price to define Target Zones, however I'd recommend using my other script, Trade Manager(), if the volatility of the Instrument isn't too high. I wanted to give a Special Thanks to @Pinecoders for the Custom RoundToTick Function from The Backtesting/Trading Engine --> ( If you like Price Predictor, be sure to Like, Follow, and if you have any questions, don't be afraid to drop a comment below.
Indikator Pine Script™
oleh DrCatherineHalsey
12
Trade ManagerGreetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: www.tradingview.com). This one is called Trade Manager. How To Use Trade Manager Trade Manager acquires potential targets by measuring the Average Change of Price from a user-defined resolution, from Open to Open. By default, the Resolution is set to 1 Day, however you can play around with Weekly, Monthly, etc. When a new resolution period begins, Trade Manager will automatically adjust its Targets based on the new Average Change of Price. Due to the avoidance of Security() in this script, you may have to play around with the Timeframe that you use it in to ensure that you have enough bars on your chart to process the User-Defined Resolution. The idea behind Trade Manager is quite simple yet can be quite powerful at the same time. Consider a Daily Candle for example. You can clearly see how a vast amount of price movement can be encapsulated within it, sometimes in both directions. By measuring the Average Change of Price per day(From Open to Open), we can use this Average to build targets off of. Defining a small Threshold above and below the Open Price of the Daily Candle allows you to set Limit Orders at these levels with predefined Targets. Then, the use of the custom Trailing Stop and Break Even helps to secure profits without giving too much back to the market, all while managing your risk. Within the Settings of Trade Manager, you have the option to alter the logic of whether Break-Even is set after the first Target or second Target is hit. In addition to using a User-Defined Resolution Period, you can also input a Custom Price into the settings of Trade Manager and allow the Targets, Trailing Stop, and Break Even to be calculated from the Custom Price. I wanted to give a Special Thanks to @PineCoders for the Custom RoundToTick Function from The Backtesting/Trading Engine --> () As a note, there are times where price will break out very strongly from the Limit Price, sometimes crossing the Stop and Limit Price on the same bar. When this happens, it is difficult for Pine to determine which occurred first intra-bar, and as a result, it does not record a new position. In these instances, I'd recommend adjusting the Default Stop Multiple so it is below the bar. If you like Trade Manager, be sure to Like, Follow, and if you have any questions, don't be afraid to drop a comment below.
Indikator Pine Script™
oleh DrCatherineHalsey
13