TradingHookLibrary "TradingHook"
This library is a client script for making a webhook signal formatted string to TradingHook webhook server.
buy_message(password, amount, order_name) Make a buy Message for TradingHook.
Parameters:
password : (string) password that you set in .env file.
amount : (float) amount. If not set, your strategy qty will be sent.
order_name : (string) order_name. The default name is "Order".
Returns: (string) A string containing the formatted webhook message.
sell_message(password, percent, order_name) Make a sell message for TradingHook.
Parameters:
password : (string) password that you set in .env file.
percent : (string) what percentage of your quantity you want to sell.
order_name : (string) order_name. The default name is "Order".
Returns: (string) A string containing the formatted webhook message.
You can use TradingHook WebServer open source code in github(github.com)
E-signal
RelicusRoad - Signal LineWhen you have charts full of too many indicators, it can mess up with your analysis and cause analysis paralysis. Use RelicusRoad Signal Line to simply your charts with a beautiful color changing moving average line as per the strategies selected.
4 different strategies to choose from:
1) MACD
2) PMACD (Price Action + MACD)
3) Parabolic SAR
4) Momentum
GREEN: BUY ZONE
RED: SELL ZONE
FUNCTIONS OVERVIEW
MACD: Moving average convergence divergence ( MACD ) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. The MACD is calculated by subtracting the 26-period exponential moving average ( EMA ) from the 12-period EMA .
The result of that calculation is the MACD line. A 9 EMA of the MACD called the "signal line," is then plotted on top of the MACD line, which can function as a trigger for buy and sell signals. Traders may buy the security when the MACD crosses above its signal line and sell—or short—the security when the MACD crosses below the signal line. Moving average convergence divergence ( MACD ) indicators can be interpreted in several ways, but the more common methods are crossovers, divergences, and rapid rises/falls.
Moving average convergence divergence ( MACD ) is calculated by subtracting the 26-period exponential moving average ( EMA ) from the 12-period EMA .
MACD triggers technical signals when it crosses above (to buy) or below (to sell) its signal line.
The speed of crossovers is also taken as a signal of a market is overbought or oversold.
MACD helps investors understand whether the bullish or bearish movement in the price is strengthening or weakening.
PMACD: It's an improvement to MACD that you can use the Red/Green indications to make better decisions.
Parabolic SAR: The parabolic SAR indicator, developed by J. Wells Wilder, is used by traders to determine trend direction and potential reversals in price. The indicator uses a trailing stop and reverse method called "SAR," or stop and reverse, to identify suitable exit and entry points. Traders also refer to the indicator as the parabolic stop and reverse , parabolic SAR , or PSAR.
The parabolic SAR indicator appears on a chart as a series of dots, either above or below an asset's price, depending on the direction the price is moving. A dot is placed below the price when it is trending upward, and above the price when it is trending downward.
The parabolic SAR (stop and reverse) indicator is used by technical traders to spot trends and reversals.
The indicator utilizes a system of dots superimposed onto a price chart.
A reversal occurs when these dots flip, but a reversal signal in the SAR does not necessarily mean a reversal in the price. A PSAR reversal only means that the price and indicator have crossed.
Momentum: On paper, momentum investing seems less like an investing strategy and more like a knee-jerk reaction to market information. The idea of selling losers and buying winners is seductive, but it flies in the face of the tried and true Wall Street adage, "buy low, sell high."
Momentum investing is a trading strategy in which investors buy securities that are rising and sell them when they look to have peaked.
The goal is to work with volatility by finding buying opportunities in short-term uptrends and then sell when the securities start to lose momentum.
Then, the investor takes the cash and looks for the next short-term uptrend, or buying opportunity, and repeats the process.
Skilled traders understand when to enter into a position, how long to hold it for, and when to exit; they can also react to short-term, news-driven spikes or selloffs.
Risks of momentum trading include moving into a position too early, closing out too late, and getting distracted and missing key trends and technical deviations.
ENVELOPE RSI - Buy Sell SignalsThis indicator is mainly based on Overbought and Oversold . Indicator for short-term trading. This way you can get small but acceptable signals.
The main basis of the indicator is as follows:
To buy, the indicator is waiting for the instrument to be oversold from the RSI point of view. Then, if the chart crosses the bottom line of the Envelope indicator from the bottom to the top, a buy signal is issued.
For sell, the indicator waits for the instrument to be overbought from the RSI perspective. Then, if the chart crosses the top line of the Envelope indicator from top to bottom, a sell signal is issued.
The general basis is the consonance of the price and the RSI indicator .
The best settings I came up with myself:
Time frame: 15 minutes
Overbought: 80
Oversell: 25
RSI Length: 8
It can be done on different instruments. But always set your profit and loss limits.
(Profit to loss ratio in this indicator can be 1: 1.)
Disclaimer : This information and trading indicators and tools provided neither is, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities. You shall be fully responsible for any investment decision you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
I am not liable for any profit, financial improvement, losses or damages, monetary or other that may result from the application of information contained within this indicator. Individual traders must use their own due diligence in analyzing featured trading indicators, other trading tools, webinars and other educational materials to determine if they represent suitable and useable features and capabilities for the individual trader.
Artharjan - RSI and RSI-Moving Avg Crossover SignalsHi,
I have created "Artharjan - Index Heavy Weight Components RSI and RSI-Moving Avg Crossover Bullish/Bearish/Neutral Signal" (Short Name - ARSICROSSOVER) indicator for Traders whereby they can see the RSI and RSI Moving Average Values for Indices and Index heavyweight Components at the same time in a Dashboard.
The analysis is based on 2 different timeframes. Basically when Higher timeframe RSI is Bullish and Lower timeframe is Bearish then you enter the LONG trade when Lower Timeframe RSI shows "Bullish Reversal Signal" &
when Higher timeframe RSI is Bearish and Lower timeframe is Bullish then you enter the SHORT trade when Lower Timeframe RSI shows "Bearish Reversal Signal"
The two timeframes which I have selected by Default are Weekly (Higher timeframe) and 30 min Lower (Trade Entry) Timeframe
Also I have used to source to calculate the RSI as 5 period WMA of hlc3, if you want use raw RSI to generate crossover signals then change the source to "close" and input soothing to '1' instead of '5'
The system generates very accurate Buy and Sell Signals and when the script is range bound in its respective timeframe it shows Neutral signal
The overbought and oversold levels for Higher and Lower timeframes are set to be 60/40 and 70/30 respectively, however Traders may change these levels as per their preferences.
For intraday trades I would recommend using Higher time frame as "Daily" and Lower (Trade Entry) Timeframe as "15 min"
For Swing trades I would recommend using Higher time frame as "Weekly" and Lower (Trade Entry) Timeframe as "75 min"
For Positional trades I would recommend using Higher time frame as "Monthly" and Lower (Trade Entry) Timeframe as "Daily"
Also you can select maximum 10 Scripts at any given point in time.
My recommendation would be to use Sector Index as Script 1 and then Heavy weight components of that Sector in Script 2 to 10
This will help you to identify which Stock is responsible to pull index Up or Down and then you may decide to take either a Long Trade or Short Trade accordingly.
The Background Color and Bullish/Bearish/Neutral stages are decided based on following logic
1] If Higher timeframe RSI > Overbought Level - Stock is in a Bull Run
2] If Higher timeframe RSI > If Higher timeframe EMA of RSI = Positively Bullish
3] If Higher timeframe RSI < Oversold Level - Stock is in a Bear Run
4] If Higher timeframe RSI < If Higher timeframe EMA of RSI = Positively Bearish
5] Bulls will be said to have control if Condition 1 & 2 are true
6] Bears will be said to have control if Condition 3 & 4 are true
7] The Stock/Index will be said to be in a Neutral zone if its RSI is less than Overbought Level but greater than Oversold Level
The same rules are applicable for a Lower (Trade Entry) Timeframe
Hope you guys like this indicator and are able to make decent money by using it.
Regards
Rahul Desai
@Artharjan
Fibonacci Progression with Breaks [LuxAlgo]This indicator highlights points where price significantly deviates from a central level. This deviation distance is determined by a user-set value or using a multiple of a period 200 Atr and is multiplied by successive values of the Fibonacci sequence.
Settings
Method: Distance method, options include "Manual" or "Atr"
Size: Distance in points if the selected method is "Manual" or Atr multiplier if the selected method is "Atr"
Sequence Length: Determines the maximum number of significant deviations allowed.
Usage
The indicator allows highlighting potential reversal points, but it can also determine trends using the central level, with an uptrend detected if the central level is higher than its previous value and vice versa for a downtrend.
When an uptrend is detected, and the price deviates significantly upward from it a first checkmark will be highlighted alongside the Fibonacci sequence used as a multiplier, if the price deviates downward, a cross will be shown instead, then the distance threshold will be multiplied by the next value in the Fibonacci sequence.
If the price deviates from the central level such that the length of the sequence is greater than the user set Sequence Length , a break label will be shown alongside a new central level with a value determined by the current closing price, while the Fibonacci multiplier will be reset to 1.
Upper and lower extremities made from the central level and threshold distance are highlighted and can be used as support and resistances.
Bounce Manager ATRThis is a tool to turn any line or indicator into a signaller from bounces from the source line.
The ATR version is build to specify what would be considered a worthy entry from the line using ATR multiplier values as inputs.
COMPONENTS:
- Max violation: When price moves past this the script will no longer look for entry until a new trend has been established. The line can also be used as a stop loss.
- Confirmation line: When price touches the line during a trend it
will wait to cross over this line to confirm a reaction from the line.
- Min past distance: A trend filtering system, this is a distance from
the line price has to break to confirm trend direction.
- Stop loss: This can be set to a percentage distance from the low after
bounce. Or it can be set to the max violation line
- Take profit: This can be a fixed take profit target or a risk to reward
based take profit. With risk to reward it will multiply the stop loss
distance by the input and use that to create target (green cross)
- ATR based or % based: there are 2 versions of the script, one for strict
percentage based logic and another one based on ATR values
In bounce manager v1 these stop loss and take profit targets are there only for plotting and visual backtesting purposes. Right now it can only send long and short signals.
Part of the Honest Algo service.
Premium Index - Signal
What is Premium Index?
Premium index is a system that helps us to determine whether financial instruments such as stocks, gold, forex, cryptocurrencies, etc. are premium or not in terms of their market price.
By using this system, we can determine in which price the assets we intend to invest in are low-risk, and we can make gradual purchases and sales according to Premium Index.
What is Premium Index - Signal?
Premium Index - Signal shows the buy and sell signals produced by the Premium Index on the main chart and allows us to follow the the system more easily.
How do we it use it?
We use Premium Index - Signal as a supplementary indicator. We assign the same values as the Premium Index and wait for the buy or sell signals to appear on the chart.
Prim Endeksi Nedir?
Prim endeksi, hisse senedi, altın, forex, kripto para vb. finansal araçların bulunduğu fiyat itibariyle primli olup olmadığını belirlememize yardımcı olan bir sistemdir.
Prim Endeksi Sinyal Nedir?
Prim Endeksinin ürettiği sinyalleri ana grafik üzerinde gösterir ve sistemi görsel açıdan daha kolay takip edilebilmemize olanak verir.
Nasıl Kullanırız?
Prim Endeksi Sinyali yardımcı bir indikatör olarak kullanırız. Prim Endeksi ile aynı değerleri gireriz ve grafikte al-sat sinyallerin oluşmasını bekleriz.
Use the link below to obtain access to this indicator:
mumlarikoklayanadam@gmail.com
İndikatöre ulaşmak için aşağıdaki adrese mail gönderebilirsiniz:
mumlarikoklayanadam@gmail.com
[TT] Daily Levels
These pivots are based on calculations that i have been using for quite some time. I'm sure There is no need to explain on how to use pivots.
Labels are given to understand and you can Msg me here or comment if u need any explanation.
I have given few examples below.. check i t out
XAUUSD
BTCUSD
Nifty
Banknifty
customConfluenceSimplifiedThis indicator is intended to automatically search for confluence on a variety of indicators and conditions, highly customizable parameters, including Take profits, stop losses and classic indicator adjustments.
Best results in BTCUSDT 15m and 1H, but feel free to optimize it on any pair and timeframe. I don't recommend using it in non crypto assets.
Alerts are fully customizable too. You can put any alert() (buy/sell) to any pair.
I intended to maximize quality of signals over quantity. But anyway you can customize a lot of parameters to make it more frequent.
DM me for access.
Trading Assistant DiNGUETrading Assistant DiNGUE This indicator is like a trading assistant for your charts.
It helps set your biases and emotions aside and lets you focus on managing trades in an easy visual way.
Get various types of signals to enter your trades (either Long or Short). Then use take profits, stops, or the opposite signal to exit trades.
The signals are created from various indicators and sensibility options you can customize any way you want. Works on every timeframe.
You can customize every setting or used the preset ones. Preset settings adjust automatically based on the timeframe you are using on the chart.
The 12 Indicators are Volume - RSI - Stochastic - MacD - Moving Averages (MA) - Rate of Change (ROC) - ADX DMI Directional Movement Index - On Balance Volume (OBV) - Bollinger Bands - VWAP - ATR - Parabolic SAR.
Every indicator can be turned On or Off.
You can adjust the way it creates signals by selecting either 'rise-fall', 'crosses' or by combining both.
You can select the sensitivity of the signal from Normal - Safe - Safer.
You can adjust lengths or use the preset ones.
There are also additional options for each indicator, you can filter weak levels for ADX, filter for tight bands, have ROC above 0…
You can also plot several of those indicators on the screen. 2x Moving Averages, 2x VWAP, 2x ATR, 2x SAR for even easier visualization of the trend.
You can also plot fractals to facilitate once again on trend visualization. Higher high, lower low, higher low, lower high.
Trade with the Trend and Safe Trades:
If you want to have a higher chance of success, you can trade with the trend. First, select the trend timeframe you would like to use. Let's say the “Weekly” trend. Meaning it will generate a signal on the weekly timeframe and based on the result (Long or Short) it will only take trades in that direction. So the trend is LONG on the Weekly and you get a “Long” signal, it will take it. “Short” signals on the other hand will be treated as “stops” and won’t want to go against the trend by going ‘short’.
Safe Trend works in the same manner, but instead of using the signal on a bigger timeframe, it uses an indicator as to the deciding factor. Let's say you select the 200SMA as the “Safe signal”. The indicator will only go “Long” when above the 200SMA and “Short” under the 200SMA. Otherwise, it will put a stop instead of going against the trend.
Stop Loss:
There are 4 different types of stop-loss that you can use at the same time.
- Indicator Stop
- Fib stop
- Fix % stop
- Trailing stop
You can plot the stops directly on the chart AND OR add them to the panel for an easy visualization once again.
With the ‘indicator stop’, you can select one of the two: MA ATR SAR VWAP as a stop.
Fib stop, it uses fib numbers to calculate a stopping point.
Fix %, you can select your max loss in percent. Could be 2%, 5%
A trailing stop is like a fixed stop but that will trail as the price moves in the right direction.
Take Profit:
There are 4 different types of take profit that you can use simultaneously.
- Fix % Take Profit
- ATR multiple Take Profit
- Fib multiple Take Profit
- Bollinger Band Take Profit
Fix % just let you set a fix take profit target in percent.
ATR multiple lets you select a target based on a multiple of the average true range.
Fib multiple lets you select a target based on a fib multiple
Bolling Band lets you take profit based on the Bollinger band settings you select.
Visual Panel:
The visual panel lets you see exactly how is the last trade progressing. It will give you the entry price, profit, stop, and target. You can turn it on or off, as is for the stop and target.
You can also decide to plot 1 position or more, you can even show all the possible signals, add backgrounds with colors. You can also plot the bigger Trend and Safe Signals explained above.
If you have any questions, suggestions, or comments, feel free to do so!
Double EMA WIth Pullback Buy Sell Signal - Smarter AlgoBuilt with love "Double EMA With Pullback Buy Sell Signal "
This indiator will help you to find a Double EMA Pullback Signal
You can combine with your own strategy, or use this purely
DISCLAIMER :
Measure the risk first before use it in real market
Backtest The Strategy was very important, so you know the probability
Fundamentally Logical :
Pullback (Some Previous candle is Red for Bull Pullback vice versa)
the Entry candle must be a Candlestick Pattern
Features :
1. Double EMA
2. Pullback Signal
How to use it :
1. Adjust the Pullback Backstep
2. Adjust the EMA Period
3. Adjust the Style to your preferences
Regards,
Hanabil
GMC Trend FilterAvoid Fake Signals, and identify the trend.
How it works ?
- it calculates main trend direction by using the length that is user-defined. so you can change it as you wish
- then it calculates trend direction for each 9 lower lengths. if you set the length = 20 then the lengths are 19, 18,...11
- and it checks if the trend directions that came from lower lengths is same or not with main trend direction.
- it changes the trend color of the ribbon.
P-Signal GravityP-Signal Gravity will help you choose a trading strategy, taking into account volatility and exchange commissions. The white circles indicate the probabilistic position of the virtual center of gravity. The reliability parameter determines the probability of finding such a center of gravity. The table shows the latest price and the expected P/L, taking into account the exchange commission, which is also a parameter. Due to the overlay type of indicator, the table also contains p-signal values and its increment.
NazhoThis is a simple scalping strategy that works for all time frames... I have only tested it on FOREX
It works by checking if the price is currently in an uptrend and if it crosses the 20 EMA .
If it crosses the 20 EMA and its in and uptrend it will post a BUY SIGNAL.
If it crosses the 20 EMA and its in and down it will post a SELL SIGNAL.
The red line is the highest close of the previous 8 bars --- This is resistance
The green line is the lowest close of the previous 8 bars -- This is support
+SuperTrend
BjCandlePatternsLibrary "BjCandlePatterns"
Patterns is a Japanese candlestick pattern recognition Library for developers. Functions here within detect viable setups in a variety of popular patterns. Please note some patterns are without filters such as comparisons to average candle sizing, or trend detection to allow the author more freedom.
doji(dojiSize, dojiWickSize) Detects "Doji" candle patterns
Parameters:
dojiSize : (float) The relationship of body to candle size (ie. body is 5% of total candle size). Default is 5.0 (5%)
dojiWickSize : (float) Maximum wick size comparative to the opposite wick. (eg. 2 = bottom wick must be less than or equal to 2x the top wick). Default is 2
Returns: (series bool) True when pattern detected
dLab(showLabel, labelColor, textColor) Produces "Doji" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
bullEngulf(maxRejectWick, mustEngulfWick) Detects "Bullish Engulfing" candle patterns
Parameters:
maxRejectWick : (float) Maximum rejection wick size.
The maximum wick size as a percentge of body size allowable for a top wick on the resolution candle of the pattern. 0.0 disables the filter.
eg. 50 allows a top wick half the size of the body. Default is 0% (Disables wick detection).
mustEngulfWick : (bool) input to only detect setups that close above the high prior effectively engulfing the candle in its entirety. Default is false
Returns: (series bool) True when pattern detected
bewLab(showLabel, labelColor, textColor) Produces "Bullish Engulfing" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
bearEngulf(maxRejectWick, mustEngulfWick) Detects "Bearish Engulfing" candle patterns
Parameters:
maxRejectWick : (float) Maximum rejection wick size.
The maximum wick size as a percentge of body size allowable for a bottom wick on the resolution candle of the pattern. 0.0 disables the filter.
eg. 50 allows a botom wick half the size of the body. Default is 0% (Disables wick detection).
mustEngulfWick : (bool) Input to only detect setups that close below the low prior effectively engulfing the candle in its entirety. Default is false
Returns: (series bool) True when pattern detected
bebLab(showLabel, labelColor, textColor) Produces "Bearish Engulfing" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
hammer(ratio, shadowPercent) Detects "Hammer" candle patterns
Parameters:
ratio : (float) The relationship of body to candle size (ie. body is 33% of total candle size). Default is 33%.
shadowPercent : (float) The maximum allowable top wick size as a percentage of body size. Default is 5%.
Returns: (series bool) True when pattern detected
hLab(showLabel, labelColor, textColor) Produces "Hammer" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
star(ratio, shadowPercent) Detects "Star" candle patterns
Parameters:
ratio : (float) The relationship of body to candle size (ie. body is 33% of total candle size). Default is 33%.
shadowPercent : (float) The maximum allowable bottom wick size as a percentage of body size. Default is 5%.
Returns: (series bool) True when pattern detected
ssLab(showLabel, labelColor, textColor) Produces "Star" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
dragonflyDoji() Detects "Dragonfly Doji" candle patterns
Returns: (series bool) True when pattern detected
ddLab(showLabel, labelColor) Produces "Dragonfly Doji" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
Returns: (series label) A label visible at the chart level intended for the title pattern
gravestoneDoji() Detects "Gravestone Doji" candle patterns
Returns: (series bool) True when pattern detected
gdLab(showLabel, labelColor, textColor) Produces "Gravestone Doji" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
tweezerBottom(closeUpperHalf) Detects "Tweezer Bottom" candle patterns
Parameters:
closeUpperHalf : (bool) input to only detect setups that close above the mid-point of the candle prior increasing its bullish tendancy. Default is false
Returns: (series bool) True when pattern detected
tbLab(showLabel, labelColor, textColor) Produces "Tweezer Bottom" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
tweezerTop(closeLowerHalf) Detects "TweezerTop" candle patterns
Parameters:
closeLowerHalf : (bool) input to only detect setups that close below the mid-point of the candle prior increasing its bearish tendancy. Default is false
Returns: (series bool) True when pattern detected
ttLab(showLabel, labelColor, textColor) Produces "TweezerTop" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
spinningTopBull(wickSize) Detects "Bullish Spinning Top" candle patterns
Parameters:
wickSize : (float) input to adjust detection of the size of the top wick/ bottom wick as a percent of total candle size. Default is 34%, which ensures the wicks are both larger than the body.
Returns: (series bool) True when pattern detected
stwLab(showLabel, labelColor, textColor) Produces "Bullish Spinning Top" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
spinningTopBear(wickSize) Detects "Bearish Spinning Top" candle patterns
Parameters:
wickSize : (float) input to adjust detection of the size of the top wick/ bottom wick as a percent of total candle size. Default is 34%, which ensures the wicks are both larger than the body.
Returns: (series bool) True when pattern detected
stbLab(showLabel, labelColor, textColor) Produces "Bearish Spinning Top" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
spinningTop(wickSize) Detects "Spinning Top" candle patterns
Parameters:
wickSize : (float) input to adjust detection of the size of the top wick/ bottom wick as a percent of total candle size. Default is 34%, which ensures the wicks are both larger than the body.
Returns: (series bool) True when pattern detected
stLab(showLabel, labelColor, textColor) Produces "Spinning Top" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
morningStar() Detects "Bullish Morning Star" candle patterns
Returns: (series bool) True when pattern detected
msLab(showLabel, labelColor, textColor) Produces "Bullish Morning Star" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
eveningStar() Detects "Bearish Evening Star" candle patterns
Returns: (series bool) True when pattern detected
esLab(showLabel, labelColor, textColor) Produces "Bearish Evening Star" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
haramiBull() Detects "Bullish Harami" candle patterns
Returns: (series bool) True when pattern detected
hwLab(showLabel, labelColor, textColor) Produces "Bullish Harami" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
haramiBear() Detects "Bearish Harami" candle patterns
Returns: (series bool) True when pattern detected
hbLab(showLabel, labelColor, textColor) Produces "Bearish Harami" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
haramiBullCross() Detects "Bullish Harami Cross" candle patterns
Returns: (series bool) True when pattern detected
hcwLab(showLabel, labelColor, textColor) Produces "Bullish Harami Cross" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
haramiBearCross() Detects "Bearish Harami Cross" candle patterns
Returns: (series bool) True when pattern detected
hcbLab(showLabel, labelColor) Produces "Bearish Harami Cross" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
Returns: (series label) A label visible at the chart level intended for the title pattern
marubullzu() Detects "Bullish Marubozu" candle patterns
Returns: (series bool) True when pattern detected
mwLab(showLabel, labelColor, textColor) Produces "Bullish Marubozu" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
marubearzu() Detects "Bearish Marubozu" candle patterns
Returns: (series bool) True when pattern detected
mbLab(showLabel, labelColor, textColor) Produces "Bearish Marubozu" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
abandonedBull() Detects "Bullish Abandoned Baby" candle patterns
Returns: (series bool) True when pattern detected
abwLab(showLabel, labelColor, textColor) Produces "Bullish Abandoned Baby" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
abandonedBear() Detects "Bearish Abandoned Baby" candle patterns
Returns: (series bool) True when pattern detected
abbLab(showLabel, labelColor, textColor) Produces "Bearish Abandoned Baby" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
piercing() Detects "Piercing" candle patterns
Returns: (series bool) True when pattern detected
pLab(showLabel, labelColor, textColor) Produces "Piercing" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
darkCloudCover() Detects "Dark Cloud Cover" candle patterns
Returns: (series bool) True when pattern detected
dccLab(showLabel, labelColor, textColor) Produces "Dark Cloud Cover" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
tasukiBull() Detects "Upside Tasuki Gap" candle patterns
Returns: (series bool) True when pattern detected
utgLab(showLabel, labelColor, textColor) Produces "Upside Tasuki Gap" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
tasukiBear() Detects "Downside Tasuki Gap" candle patterns
Returns: (series bool) True when pattern detected
dtgLab(showLabel, labelColor, textColor) Produces "Downside Tasuki Gap" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
risingThree() Detects "Rising Three Methods" candle patterns
Returns: (series bool) True when pattern detected
rtmLab(showLabel, labelColor, textColor) Produces "Rising Three Methods" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
fallingThree() Detects "Falling Three Methods" candle patterns
Returns: (series bool) True when pattern detected
ftmLab(showLabel, labelColor, textColor) Produces "Falling Three Methods" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
risingWindow() Detects "Rising Window" candle patterns
Returns: (series bool) True when pattern detected
rwLab(showLabel, labelColor, textColor) Produces "Rising Window" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
fallingWindow() Detects "Falling Window" candle patterns
Returns: (series bool) True when pattern detected
fwLab(showLabel, labelColor, textColor) Produces "Falling Window" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
kickingBull() Detects "Bullish Kicking" candle patterns
Returns: (series bool) True when pattern detected
kwLab(showLabel, labelColor, textColor) Produces "Bullish Kicking" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
kickingBear() Detects "Bearish Kicking" candle patterns
Returns: (series bool) True when pattern detected
kbLab(showLabel, labelColor, textColor) Produces "Bearish Kicking" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
lls(ratio) Detects "Long Lower Shadow" candle patterns
Parameters:
ratio : (float) A relationship of the lower wick to the overall candle size expressed as a percent. Default is 75%
Returns: (series bool) True when pattern detected
llsLab(showLabel, labelColor, textColor) Produces "Long Lower Shadow" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
lus(ratio) Detects "Long Upper Shadow" candle patterns
Parameters:
ratio : (float) A relationship of the upper wick to the overall candle size expressed as a percent. Default is 75%
Returns: (series bool) True when pattern detected
lusLab(showLabel, labelColor, textColor) Produces "Long Upper Shadow" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
bullNeck() Detects "Bullish On Neck" candle patterns
Returns: (series bool) True when pattern detected
nwLab(showLabel, labelColor, textColor) Produces "Bullish On Neck" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
bearNeck() Detects "Bearish On Neck" candle patterns
Returns: (series bool) True when pattern detected
nbLab(showLabel, labelColor, textColor) Produces "Bearish On Neck" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
soldiers(wickSize) Detects "Three White Soldiers" candle patterns
Parameters:
wickSize : (float) Maximum allowable top wick size throughout pattern expressed as a percent of total candle height. Default is 5%
Returns: (series bool) True when pattern detected
wsLab(showLabel, labelColor, textColor) Produces "Three White Soldiers" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
crows(wickSize) Detects "Three Black Crows" candle patterns
Parameters:
wickSize : (float) Maximum allowable bottom wick size throughout pattern expressed as a percent of total candle height. Default is 5%
Returns: (series bool) True when pattern detected
bcLab(showLabel, labelColor, textColor) Produces "Three Black Crows" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
triStarBull() Detects "Bullish Tri-Star" candle patterns
Returns: (series bool) True when pattern detected
tswLab(showLabel, labelColor, textColor) Produces "Bullish Tri-Star" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
triStarBear() Detects "Bearish Tri-Star" candle patterns
Returns: (series bool) True when pattern detected
tsbLab(showLabel, labelColor, textColor) Produces "Bearish Tri-Star" identifier label
Parameters:
showLabel : (bool) Shows label when input is true. Default is false
labelColor : (series color) Color of the label border and arrow
textColor : (series color) Text color
Returns: (series label) A label visible at the chart level intended for the title pattern
wrap(cond, barsBack, borderColor, bgcolor) Produces a box wrapping the highs and lows over the look back.
Parameters:
cond : (series bool) Condition under which to draw the box.
barsBack : (series int) the number of bars back to begin drawing the box.
borderColor : (series color) Color of the four borders. Optional. The default is color.gray.
bgcolor : (series color) Background color of the box. Optional. The default is color.gray.
Returns: (series box) A box who's top and bottom are above and below the highest and lowest points over the lookback
topWick() returns the top wick size of the current candle
Returns: (series float) A value equivelent to the distance from the top of the candle body to its high
bottomWick() returns the bottom wick size of the current candle
Returns: (series float) A value equivelent to the distance from the bottom of the candle body to its low
body() returns the body size of the current candle
Returns: (series float) A value equivelent to the distance between the top and the bottom of the candle body
highestBody() returns the highest body of the current candle
Returns: (series float) A value equivelent to the highest body, whether it is the open or the close
lowestBody() returns the lowest body of the current candle
Returns: (series float) A value equivelent to the highest body, whether it is the open or the close
barRange() returns the height of the current candle
Returns: (series float) A value equivelent to the distance between the high and the low of the candle
bodyPct() returns the body size as a percent
Returns: (series float) A value equivelent to the percentage of body size to the overall candle size
midBody() returns the price of the mid-point of the candle body
Returns: (series float) A value equivelent to the center point of the distance bewteen the body low and the body high
bodyupGap() returns true if there is a gap up between the real body of the current candle in relation to the candle prior
Returns: (series bool) true if there is a gap up and no overlap in the real bodies of the current candle and the preceding candle
bodydwnGap() returns true if there is a gap down between the real body of the current candle in relation to the candle prior
Returns: (series bool) true if there is a gap down and no overlap in the real bodies of the current candle and the preceding candle
gapUp() returns true if there is a gap down between the real body of the current candle in relation to the candle prior
Returns: (series bool) true if there is a gap down and no overlap in the real bodies of the current candle and the preceding candle
gapDwn() returns true if there is a gap down between the real body of the current candle in relation to the candle prior
Returns: (series bool) true if there is a gap down and no overlap in the real bodies of the current candle and the preceding candle
dojiBody() returns true if the candle body is a doji
Returns: (series bool) true if the candle body is a doji. Defined by a body that is 5% of total candle size
Trendlines with Breaks [LuxAlgo]The trendlines with breaks indicator return pivot point based trendlines with highlighted breakouts. Users can control the steepness of the trendlines as well as their slope calculation method.
Trendline breakouts occur in real-time and are not subject to backpainting. Trendlines can however be subject to repainting unless turned off from the user settings.
The indicator includes integrated alerts for trendline breakouts.
🔶 USAGE
Any valid trendlines methodology can be used with the indicator, users can identify breakouts in order to infer future price movements.
The calculation method of the slope greatly affects the trendline's behaviors. By default, an average true range is used, returning a more constant slope amongst trendlines. Other methods might return trendlines with significantly different slopes.
Stdev makes use of the standard deviation for the slope calculation, while Linreg makes use of the slope of a linear regression.
The above chart shows the indicator using "Stdev" as a slope calculation method. The chart below makes use of the "Linreg" method.
By default trendlines are subject to backpainting, and as such are offset by length bars in the past. Disabling backpainting will not offset the trendlines.
🔶 SETTINGS
Length: Pivot points period
Slope: Slope steepness, values greater than 1 return a steeper slope. Using a slope of 0 would be equivalent to obtaining levels.
Slope Calculation Method: Determines how the slope is calculated.
Backpaint: Determine whether trendlines are backpainted, that is offset to past.
SMART4TRADER - BREAKOUTThis indicator shows the breakthrough of extremes for the selected period. The default period is set = 3
The indicator checks on the current bar whether the maximum or minimum prices for the selected period are broken
----------------
Данный индикатор показывает прорыв экстремумов за выбранный период. По-умолчанию выставлен период = 3
Индикатор проверяет на текущем баре пробиты ли максимальные или минимальные значения цен за выбранный период
Signal Money PlusSignal Money Plus is a trend analysis indicator including Signal Money and Signal Money Plus.
Signal Money:
- Signal Money enters the overbought or oversold area and the price fluctuates around the strong support or resistance area, giving a reliable signal.
- Signal Money creates a divergence, and the price fluctuates around a strong support or resistance area, giving a reliable signal.
- The price fluctuates in a narrow range but the Signal Money correcting according to the elliott wave pattern gives a reliable signal.
Signal Money Plus:
- Money Plus > 0 for positive cash flow trend. Money Plus < 0 for negative cash flow trend. Money Plus fluctuates around -20 to 20, showing an accumulation trend waiting for a confirmation signal.
- Money Plus creates divergence for reliable signal
Use combination Signal Money Plus:
AJ Scalp Reversal Tops and Bottoms IndicatorReuploaded after TV took it down.
A free scalping reversal, top and bottom indicator. It prints signals in real time, and should be used for scalping.
Following candle will usually always follow the signal but from there closer management is required.
This script uses RSI, Volume, OBV, Pivots and a few more indicators to calculate the signals.
Use alongside other indicators and price action analysis for best results.
Only use on time frames above 1H, otherwise the signals fire too frequently.
*These signals are different compared to other scripts created by me
Bollinger Band Layer Entry (BBLE) The Bollinger Band Layer Entry Indicator uses plenty of Bollinger Bands to create an onion-looking layered indicator to help with layered entries. It is similar to a Ribbon but better. This indicator is best used with any volume-related indicator so you can recede from entering into any position with too much momentum to rebound off of any line. Note that this indicator is best used with another strategy like pair trading. It is not recommended to trade based on this indicator only. Please stay aware of any news about the stock you are trading because some events may have a big impact and force the market to go bullish/bearish by a lot. This indicator can be used with all chart types and works well with many other indicators. It allows for complete customization and offers easy-to-understand settings which can be designated to a certain individual. You can modify every single factor of the BBs which allows for an even more personalized and adapted Indicator that reflects your trading/ investing needs. You also have the option to choose which type of MAs will be used to create the Bollinger Bands , a few of which include: EMA, SMA, WMA, HMA, RMA, DMA, LSMA, VAMA, TMA, MF.
Bollinger Bands are a way to measure and visualize volatility. As volatility increases, the wider the bands become, and the more they deviate from the basis. Vice versa, when volatility decreases, the gap between the bands and basis decreases. Yet a big advantage for not only this but many other indicators is created due to the ample count of different settings that are widely used, it is difficult to view the market through the eyes of all types of investors/traders. This indicator manages to counter exactly this issue, you will be able to see all of these settings on one chart and at one time and enter/exit positions accordingly.
Using this indicator will allow you to visualize entries with ease and make order layering (buying/selling in layers) much more simple. You can choose a certain amount of Bollinger Bands you would like displayed and customize all technical and style-related settings related to each of the BBs separately.
A few of the technical settings you can change for each Bollinger Band are:
Bollinger Band count (Select how many BBs you want to be displayed.)
MA type used to make the Bollinger Bands (EMA, SMA, WMA, etc.)
Source (close, open, high, low.)
BB length (The length of each Bollinger Band, its lookback. How many previous candles should it be based on? Choose each Bollinger Band's lookback length.)
BB deviator (The standard Deviator applied for the BB for both the upper and lower line.)
Offset
A few of the style settings you can change for each Bollinger Band are:
Upper, Lower, Basis line opacity % (separate for each)
Upper, Lower, Basis line color (separate for each)
Fill (the color used to fill from the upper to the lower band) (separate for each)
Fill opacity % (the opacity used when filling the upper line to the lower line) (separate for each)
This indicator is unique because it can be used for all strategies and all trading styles, for example, day trading or long-term investing, really anything if used correctly. The reason it can be used in so many instances is a result of the detailed and in-depth settings tab that allows complete customization of each separate Bollinger Band. This allows the indicator to be used and to be useful in various situations and allows you to dominate the market. Integrated alerts also enhance your efficiency while using this indicator because you can choose to be notified at the crossing of any of the Bollinger Bands.
The technical part of this indicator plots the selected amount of Bollinger Bands using custom-built specified Bollinger Bands accordingly. Then it uses the style settings and styles it as you selected.
Auto Harmonic Pattern - PRO [AlgoScopes] V1Harmonic Patterns is a powerful tool for identifying potential reversal areas in the financial markets. Auto Harmonic Pattern Pro it is based on the work of Scott Carney, a renowned trader and author who developed the concept of harmonic patterns.
Scott Carney's extensive research and contributions have greatly enhanced our understanding of market patterns and their application in trading. Auto Harmonic Pattern Pro is adapted from Scott Carney's original work on harmonic patterns, as well as other sources that have contributed to the recognition and understanding of harmonic patterns beyond Carney's initial research.
Auto Harmonic Pattern Pro offers traders a valuable tool for identifying potential reversal zones in the markets. We would like to express our gratitude to Scott Carney for his pioneering work in developing harmonic patterns, as well as to the various contributors and sources that have expanded our knowledge and understanding of harmonic patterns beyond Carney's original research.
Remember to always practice proper risk management and combine the indicator's signals with other technical analysis tools for a comprehensive trading approach.
For more information about Scott Carney and his work on harmonic patterns, you can find additional resources on his official website.
💠 ABOUT THE SCRIPT
💎 DISPLAY
⚬ The following things are displayed by default on the chart
🔸 Live patterns in trade with XABCD labels. (filled major triangle)
🔸 Entry, Stop and Target levels on chart for all live patterns. Target level are dimmed along with reducing size when they become irrelevant
🔸 Open Trades Stat table - Show patterns ID, patterns name, status for patterns, size&age, Entry, I.Stop, T.Stop and Targets (TP1 - TP4).
⚬ Highlighted present stop (and/or trailing stop if is enabled) and next target
⚬ When there are multiple patterns on chart, Entry, Stop, and Target labels & lines & PRZ* boxes are created with specific distance from each other to provide clarity to the users
*(potential reversal zone)
⬜ SETTINGS
⚬ Let's talk about some of the settings. Almost all of these settings have already been optimized and tested over time, but for some tickers it might be better to do a new test.
💎 ZIGZAG
🔸 Length - Default is set to 8. User can change settings but it is a good idea to keep with fibonacci (5, 13, 21, 34, 55 etc)
🔸 Depth - This setting is for how many pivots indicator scan to find harmonic pattern. By default it is set as 200
🔸 Recursive Algorithm - Enabled will use recursive instead standard zigzag
💎 HARMONIC PATTERN SETTINGS
🔸 Trade Direction - Default is set to show all (bearish and bullish) harmonic patterns. Can be filtered to bullish or bearish direction.
🔸 Error Percent - Default is 8. That is error percent tolerance from perfect pattern ratio.
🔸 Maximum patterns - Maximum patterns allowed on chart at any time
⚬ When it reaches the maximum patterns and the indicator finds a new one, the old patterns will be removed
- (important for algo traders because alerts for those removed patterns will no longer be a trigger)
🔸 Pattern size
⚬ Without filter will show all patterns (regardless of size)
⚬ Show only patterns for user preference size (no more two patterns because is smaller of 280 bars)
🔸 External Filter - It can be used to filter harmonic patterns. You can build your own custom trend based scripts and use it with AHP to filter trades.
⚬ The structure of the external script must be
1 for Long/Bullish patterns
-1 for Short/Bearish patterns
2 for all (Long and Short patterns)
0 Trade is not allowed
🔸 Filter Pattern Starts
⚬ When Filter starts is enabled pattern will start for logical pivot (see example)
⚬ Disabled filter will show more patterns (still can be very profitable)
💎 STOP & ENTRY & TRAILING STOP
🔸 Trail Entry Price - If Entry is still not reached and the price is still in PRZ zone, at the new high/low will adjust Entry.
⚬ Open Stats table will show the first Entry (when patterns were found) as well as the last corrected Entry (when patterns reached Entry level).
⚬ Disable this option Entry will remain at the level when patterns are found.
🔸 Enable Targets (awaiting entry) - enabled will show potential Targets for "awaiting entry" patterns (not active patterns because they have not yet reached Entry).
⚬ The Open stats table will show all other information, risk %, R:R etc).
⚬ Risky trade but with very good R:R (not recommended for inexperienced traders, very high risk of trading hitting Stop before reaching a Target)
🔸 Stop Distance - By default is set to 5. That is percent from the last low/high when the pattern reaches Entry. Stop trail from price till pattern reached Entry level.
🔸 Entry Distance - By default is set to 16. Same for SL that is percent distance from live price. You can increase/decrease percent but remember you have to give space between live price and the entry.
⚬ If entry is close to price, trade will become active too quickly
⚬ Remember if you change Stop Distance as well as Entry Distance to check Risk : Reward (recommended R:R for the first target is about 1:1)
🔸 Trailing Type - Options for trailing type, Continuous, Stepped, Breakeven and Disabled.
⚬ Continuous - When the price reaches "Trailing Active" (initial level for activating the trailing stop), T.Stop will start from Entry or Initial Stop (based on "Trailing Starts") and follow the price by Distance or Percent (based on "Trailing by").
- example one (trailing starts from Initial Stop when TP1 reached by distance/price on picture 1 and by percent on picture 2)
- example two (trailing starts from Entry when TP1 reached by distance/price on picture 1 and by percent on picture 2)
⚬ Stepped - when price reaches Trailing Active (initial level for activating the trailing stop), T.Stop will move to the previous level
- (If "Trailing Active" is set to Target2, then T.Stop will move to Target1 when price reached TP2)
⚬ Breakeven - when price reaches Trailing Active (initial level for activating the trailing stop), T.Stop will move to Entry and stay there the entire time for that harmonic trade
- (till reached all targets or reached T.Stop)
🔸 Trailing Active - When will the Trailing Stop be activated ("Trailing Type" must be enabled)
🔸 Trailing by - Distance or Percent
⚬ Distance - T.Stop will follow live price by initial distance
⚬ Percent - T.Stop will follow live price by initial percent
🔸 Trailing Starts - Entry or Initial Stop
⚬ Entry - T.Stop will start trailing from Entry level
⚬ I.Stop - T.Stop will start trailing from initial Stop level
- (Check Continuous picture for information)
💎 TARGET
🔸 Base - The level from which the calculation for Targets is made.
🔸 Target 1/Target 4 dropdown - Targets are set by default and set in the dropdown most often used for those targets.
🔸 Target 1/Target 4 custom - If the desired ratio is not in the dropdown, then it is possible to manually enter the desired ratio.
⚬ (If you want to change some of the targets, maybe to confluence with support/resistance)
💎 PATTERNS
🔸 Harmonic Patterns Type
⚬ Enable/Disable harmonic patterns by Type of patterns (for Classic and Anti patterns)
⚬ By default all patterns are enabled (for standard patterns). Users can control and select/deselect all Classic, Anti or Non Standard patterns but also disable individual patterns.
⚬ For some patterns (like Shark and Navarro 200) we change PRZ or place in different Type groups. That is just cosmetic things.
🔸 Classic - This includes all and most popular Harmonic Patterns.
⚬ Gartley (Type I)
⚬ Bat (Type I)
⚬ Butterfly (Type II)
⚬ Crab (Type II)
⚬ Deep Crab (Type II)
⚬ Cypher (Type II)
⚬ Shark (Type III)
⚬ Nenstar (Type IV)
🔸 Anti Patterns
⚬ Anti Nenstar (Type I)
⚬ Anti Shark (Type II)
⚬ Anti Cypher (Type II)
⚬ Anti Crab (Type II)
⚬ Anti Butterfly (Type III)
⚬ Anti Bat (Type IV)
⚬ Anti Gartley (Type IV)
⚬ Navarro 200 (Type IV)
🔸 Non Standard -
⚬ White Swan
⚬ Black Swan
⚬ 3 Drive
⚬ Anti 3 Drive
⚬ Wolfe
⚬ Snorm
⚬ 121 Pattern
⚬ 5-0 Pattern
⚬ Sea Pony
⚬ Leonardo
💎 PATTERN DISPLAY OPTION
🔸 Pattern Lines Size - thickness for harmonic patterns
🔸 Pattern Lines Type - type for harmonic pattern lines (solid, dotted, dashed)
🔸 Fill XAB/BCD - major harmonic triangle
🔸 Fill ABC/XBD - minor harmonic triangle
🔸 Enable XABCD Label - labels for harmonic pattern
🔸 XABCD Label Size - size for harmonic xabcd labels
🔸 Enable Ratio Label & Line - lines and labels that connect harmonic patterns levels and that show the patterns ratio
🔸 Ratio Label Size - ratio labels size
⚬ Lines for pattern ratio are set by default dashed and can’t be changed.
💎 PRZ & ENTRY | STOP | TARGET SETTINGS
🔸 Entry & Stop & Target Labels - by default is set to small (opt small & normal)
🔸 Entry & Stop & Target Lines - by default is set to show lines & labels & price (opt lines & labels & price or lines & labels or disable all)
🔸 PRZ Box size - size in bars for PRZ box
⚬ Added option when it is not readable on chart pattern names or entry/stop/targets offset
⚬ Maximum (last pattern) can be drawn up to 500 bars in future or you will get error for script (use this option only when you need)
🔸 PRZ Box Type of Spacing - distance between PRZ boxes. "Auto" will make the maximum distance when there are more than 3 patterns on the chart for better visibility
- (the maximum can be projected up to 500 bars in the future)
🔸 PRZ Box Manual Spacing - manual distance between PRZ boxes if is “PRZ Box Type of Spacing” set to manual
💎 STATS AND DISPLAY
⚬ These settings can be used to manage display of open and close statistic tables
🔸 Open Trades - By default is enabled and set to the top right position.
🔸 Closed Trades - By default is disabled and set to bottom left position.
⚬ The size of the table can be changed (by default it is set to small)
🔸 Enable Tool Tip for Table - can be enabled/disabled. Shows important information for each section related to Open or Closed tables.
⚬ Recommended enabled until everything related to tables is understood, and later disabled (it starts to get annoying when you accidentally cross the tables with the mouse and tooltip box pop up)
💎 OPEN STATS
🔸 Percentage - show percentage for Targets and Stops
🔸 Risk/Reward - show patterns risk to reward for each Targets
🔸 Size/Age - show patterns size (from X to D in bars) and patterns age (distance in bars when patterns “In Trade”)
🔸 Live % & R:R - enabled will show live % and R:R if you take trade in that moment
💎 CLOSED STATS
🔸 Percentage - show stats by percent instead of numbers
🔸 Display Mode - Closed trade table have three display option, Compact, Detailed and Selective
⚬ Compact - show stats for Long/Bullish and Short/Bearish patterns
⚬ Selective - show stats just for active patterns
⚬ Detailed - show stats for each enabled patterns
- All stats is for “Backtest Bars” if enabled.
- I removed some things from the previous indicator (R:R as well as trailing R:R and win rate) because I think they are not relevant in Closed Table for trade or for statistics (Open Table have that)
💎 PATTERN | CHART COLOR THEME
⚬ By default it is set to Light color theme. Color theme will affect pattern lines, XABCD labels, ratio lines and label, entry/sl/targets labels and text in the open statistics table.
🔸 Dark Theme / Light Theme - Users can change any default individual color for dark or light theme (transparency too).
⚬ Light/Dark Theme suits dark or light chart background or user can change all color to preferred trade style.
⚬ Users have extra control to change all color to preferred trade style.
💎 ALERTS
⚬ Alerts - These settings help users to choose the type of alerts they want to receive.
🔸 New - New Harmonic Pattern is identified
🔸 Entry - Harmonic Pattern reached Entry level
🔸 Target 1/Target4 - Alert when patterns reached on of Target levels
🔸 Closure - Harmonic Pattern trade is closed. Reached all Targets or Stop or Trailing Stop (if is enabled)
🔸 Long & Short placeholders - Enabled will change for alerts Bullish/Bearish text for Long/Short text
⚬ example of custom alerts with some placeholders
💎 BACKTEST WINDOW
🔸 Backtest bars - Enabled will scan patterns for that bar range (default is set to 5000)
🔷 TOOL TIP
⚬ In setting you have help from tooltip to give you almost all this information for easy understanding. Hover mouse above tool tip and windows with info will appear.
⚬ On the chart, tool tip is added for each individual Harmonic pattern to show extra information (pattern ratio, type of harmonic and where often that pattern appears in Elliott wave fractal)
⚬ Tooltip for tables will also provide all the information related to Open and Closed tables. Disabled tooltip for tables will hide all information, but the tooltip for patterns will still remain.
🔴 Possible Errors
⚬ If a mistake is made in the settings and, for example, TP2 is set to 0.618 ratio and TP3 is changed to 0.5 ratio
- (the larger target is set to a smaller ratio than the smaller target), a red text will appear over most charts to indicate the error.
⚬ If Trailing Type is enabled and "Trailing Active" and "Trailing Starts" are set to the same level (Entry), a red text will appear on the charts to indicate an error
- (change "Trailing Active" to a higher level, TP1, or lower "Trailing Starts " to "I.Start")
No-lose trading targets (Based on EoRfA) By Mustafa ÖZVERI simulated the NLTTa_EoRfA indicator with the Bitcoin-USD
For details about the indicator, visit my profile on tradingview
For Simulation, with default settings, we order
When on Long setup and price on green area
- open a long position that closes on red area
When on Short setup and price on red area
- open a short position that closes on green area
And we got
- about 15% profit
But only this value can not guarantee good results for trading. BE CAREFUL
