[Suitable Hope] Crypto Upside Model 3.0The "Crypto Upside Model 3.0" indicator dynamically calculates the potential price of any cryptocurrency based on various percentages of Ethereum or Bitcoin's market capitalization.
By fetching and analyzing marketcap data from TradingView sources, it allows traders to visualize potential price targets if their chosen cryptocurrency reaches specific market dominance levels. This tool is designed for daily timeframe analysis and can be used to set informed price expectations and strategic investment goals, providing valuable insights for long-term investment planning.
Why using the Crypto Upside Model 3.0?
Strategic Planning: Helps traders and investors set realistic price targets and investment goals by visualizing potential market cap scenarios.
Informed Decision-Making: Provides a data-driven approach to understanding how a cryptocurrency might perform relative to major assets like Bitcoin and Ethereum.
Customizable Analysis: Allows users to choose different comparison assets (ETH or BTC) and visualize various market cap dominance percentages, offering tailored insights.
Daily Timeframe Focus: Ideal for swing traders and long-term investors who operate on a daily analysis timeframe, providing relevant and actionable data.
Bull Markets: Identify potential price targets if your cryptocurrency's market cap increases significantly.
Bear Markets: Assess how much value could be retained relative to major cryptocurrencies.
Strategic Entry/Exit Points: Use the visualized targets to plan entry or exit points in your trading strategy.
Comparative Advantage
Dynamic Adaptation: Unlike fixed indicators, this tool adapts to any active chart, making it versatile for multiple cryptocurrencies.
Market Cap Insights: Provides a unique perspective by linking price targets to market cap dominance, a critical factor in the crypto market.
User Instructions
Setup: Add the " Upside Model 3.0" indicator to your TradingView chart.
Configuration: Use the input settings to select the comparison cryptocurrency (ETH or BTC) and enable the desired market cap percentage plots.
Analysis: The indicator will display potential price targets based on the selected market cap percentages, providing a visual guide for setting price expectations.
Limitations
Marketcap Data Availability: The indicator relies on marketcap data from TradingView, which may not be available for all cryptocurrencies. If the data is unavailable, the indicator will not function for that asset. This tool is more likely to work with older, established cryptocurrencies, as marketcap data for newer cryptocurrencies may not yet be available.
Daily Timeframe Restriction: The indicator is designed to work exclusively on the daily timeframe, limiting its applicability for intraday trading.
Assumptions of Market Dynamics: The calculations assume a direct correlation between market dominance and price, which may not account for other market dynamics and external factors influencing prices.
Data Accuracy: The accuracy of the indicator depends on the reliability of the data provided by TradingView, which may sometimes experience delays or inaccuracies.
Currently available cryptocurrencies: Bitcoin, Ethereum, Solana, Binance Coin, Cardano, Ripple, Polkadot, Avalanche, Chainlink, Litecoin, Dogecoin, Terra, Uniswap, VeChain, Stellar, Internet Computer, Hedera, Filecoin, Monero, Aave, TRON, NEAR Protocol, Compound, Maker,... For all compatible cryptocurrencies, please consult CRYPTOCAP's documentation.
Final notes
Although various sources ask a payment or user data for similar kind of private indicators, this one is entirely free and open source. "Uncanny" isn't it? I hope this indicator will provide you value. Feel free to leave a message if you have any questions or constructive feedback.
Examples of how I use this indicator
When using ETH's historical price as a reference compared to Bitcoin's marketcap, we can notice that price generally has been held between the +-30% and 50% lines of BTC's marketcap. If history is repeating again, we can expect major resistances around the 50% looking ahead into the future. This for me would be a great area to potentially reduce my ETH spot position.
When using SOL's historical price action, we can notice that the 15% line of ETH's marketcap has been a top in the previous cycle. Today SOL (July 2024), is back at this level. Could this be a top again or could price break this 15% level and head perhaps towards 30% which currently sits around $260? Time will tell.
These are 2 simple example of how I interpret the data. I'm keen to hear what other findings with other pairs you can find.
Forecasting
Sector Analysis This indicator offers a straightforward yet effective way to analyze and compare the performance of various sectors within the market. By normalizing and plotting sector-specific data as lines on the chart, it enables users to quickly assess sector rotations, relative strength, and potential shifts in market dynamics. The sector labels further enhance usability by clearly identifying each line’s corresponding sector, facilitating easy interpretation and analysis.
Risk Radar ProThe "Risk Radar Pro" indicator is a sophisticated tool designed to help investors and traders assess the risk and performance of their investments over a specified period. This presentation will explain each component of the indicator, how to interpret the results, and the advantages compared to traditional metrics.
The "Risk Radar Pro" indicator includes several key metrics:
● Beta
● Maximum Drawdown
● Compound Annual Growth Rate (CAGR)
● Annualized Volatility
● Dynamic Sharpe Ratio
● Dynamic Sortino Ratio
Each of these metrics is dynamically calculated using data from the entire selected period, providing a more adaptive and accurate measure of performance and risk.
1. Start Date
● Description: The date from which the calculations begin.
● Interpretation: This allows the user to set a specific period for analysis, ensuring that all metrics reflect the performance from this point onward.
2. Beta
● Description: Beta measures the volatility or systematic risk of the instrument relative to a reference index (e.g., SPY).
● Interpretation: A beta of 1 indicates that the instrument moves with the market. A beta greater than 1 indicates more volatility than the market, while a beta less than 1 indicates less volatility.
● Advantages: Unlike classic beta, which typically uses fixed historical intervals, this dynamic beta adjusts to market changes over the entire selected period, providing a more responsive measure.
3. Maximum Drawdown
● Description: The maximum observed loss from a peak to a trough before a new peak is achieved.
● Interpretation: This shows the largest single drop in value during the specified period. It is a critical measure of downside risk.
● Advantages: By tracking the maximum drawdown dynamically, the indicator can provide timely alerts when significant losses occur, allowing for better risk management.
4. Annualized Performance
● Description: The mean annual growth rate of the investment over the specified period.
● Interpretation: The Annualized Performance represents the smoothed annual rate at which the investment would have grown if it had grown at a steady rate.
● Advantages: This dynamic calculation reflects the actual long-term growth trend of the investment rather than relying on a fixed time frame.
5. Annualized Volatility
● Description: Measures the degree of variation in the instrument's returns over time, expressed as a percentage.
● Interpretation: Higher volatility indicates greater risk, as the investment's returns fluctuate more.
● Advantages: Annualized volatility calculated over the entire selected period provides a more accurate measure of risk, as it includes all market conditions encountered during that time.
6. Dynamic Sharpe Ratio
● Description: Measures the risk-adjusted return of an investment relative to its volatility.
● Choice of Risk-Free Rate Ticker: Users can select a ticker symbol to represent the risk-free rate in Sharpe ratio calculations. The default option is US03M, representing the 3-month US Treasury bill.
● Interpretation: A higher Sharpe ratio indicates better risk-adjusted returns. This ratio accounts for the risk-free rate to provide a comparison with risk-free investments.
● Advantages: By using returns and volatility over the entire period, the dynamic Sharpe ratio adjusts to changes in market conditions, offering a more accurate measure than traditional static calculations.
7. Dynamic Sortino Ratio
● Description: Similar to the Sharpe ratio, but focuses only on downside risk.
Interpretation: A higher Sortino ratio indicates better risk-adjusted returns, focusing solely on negative returns, which are more relevant to risk-averse investors.
● Choice of Risk-Free Rate Ticker: Similarly, users can choose a ticker symbol for the risk-free rate in Sortino ratio calculations. By default, this is also set to US03M.
● Advantages: This ratio's dynamic calculation considering the downside deviation over the entire period provides a more accurate measure of risk-adjusted returns in volatile markets.
Comparison with Basic Metrics
● Static vs. Dynamic Calculations: Traditional metrics often use fixed historical intervals, which may not reflect current market conditions. The dynamic calculations in "Risk Radar Pro" adjust to market changes, providing more relevant and timely information.
● Comprehensive Risk Assessment: By including metrics like maximum drawdown, Sharpe ratio, and Sortino ratio, the indicator provides a holistic view of both upside potential and downside risk.
● User Customization: Users can customize the start date, reference index, risk-free rate, and table position, tailoring the indicator to their specific needs and preferences.
Conclusion
The "Risk Radar Pro" indicator is a powerful tool for investors and traders looking to assess and manage risk more effectively. By providing dynamic, comprehensive metrics, it offers a significant advantage over traditional static calculations, ensuring that users have the most accurate and relevant information to make informed decisions.
The "Risk Radar Pro" indicator provides analytical tools and metrics for informational purposes only. It is not intended as financial advice. Users should conduct their own research and consider their individual risk tolerance and investment objectives before making any investment decisions based on the indicator's outputs. Trading and investing involve risks, including the risk of loss. Past performance is not indicative of future results.
Symbolik SequentialThe Symbolik Sequential indicator aims to identify potential trend exhaustion points and trend reversals in the market. It consists of two main components: Setup and Countdown.
Setup:
A bullish setup occurs when there are 9 consecutive closes lower than the close 4 bars earlier.
A bearish setup occurs when there are 9 consecutive closes higher than the close 4 bars earlier.
When a setup is completed, it's called "perfected" and is shown as a triangle on the chart (green triangle for bullish, red for bearish).
Countdown:
After a setup is perfected, a countdown begins.
For a bullish countdown, it counts up to 13 when the close is lower than the low two bars earlier.
For a bearish countdown, it counts up to 13 when the close is higher than the high two bars earlier.
Countdown numbers are displayed on the chart (green at the bottom for bullish, red at the top for bearish).
Why it Signals:
The indicator signals potential trend exhaustion and reversal points.
A perfected setup (triangle) suggests that the current trend might be losing momentum.
A completed countdown (reaching 13) indicates a higher probability of a trend reversal.
Trend is weakening when both bearish and bullish countdowns are occurring at the same time.
How to Best Use It:
Setup Signals:
When you see a green triangle (bullish setup), it might indicate a potential bottom. Consider looking for buying opportunities.
When you see a red triangle (bearish setup), it might indicate a potential top. Consider looking for selling opportunities.
However, don't rely solely on these signals; use them in conjunction with other technical analysis tools.
Countdown:
As the countdown progresses, be increasingly cautious about the current trend.
When the countdown reaches 13, it signals a high probability of a trend reversal. Consider closing positions or preparing for a potential reversal.
Conflicting Signals:
The indicator doesn't show a bullish setup signal if there's an active bearish countdown, and vice versa. This helps avoid conflicting signals.
CNN Fear and Greed IndexThe “CNN Fear and Greed Index” indicator in this context is designed to gauge market sentiment based on a combination of several fundamental indicators. Here’s a breakdown of how this indicator works and what it represents:
Components of the Indicator:
1. Stock Price Momentum:
• Calculates the momentum of the S&P 500 index relative to its 125-day moving average. Momentum is essentially the rate of acceleration or deceleration of price movements over time.
2. Stock Price Strength:
• Measures the breadth of the market by comparing the number of stocks hitting 52-week highs versus lows. This provides insights into the overall strength or weakness of the market trend.
3. Stock Price Breadth:
• Evaluates the volume of shares trading on the rise versus the falling volume. Higher volume on rising days suggests positive market breadth, while higher volume on declining days indicates negative breadth.
4. Put and Call Options Ratio (Put/Call Ratio):
• This ratio indicates the sentiment of investors in the options market. A higher put/call ratio typically signals increased bearish sentiment (more puts relative to calls) and vice versa.
5. Market Volatility (VIX):
• Also known as the “fear gauge,” the VIX measures the expected volatility in the market over the next 30 days. Higher VIX values indicate higher expected volatility and often correlate with increased fear or uncertainty in the market.
6. Safe Haven Demand:
• Compares the returns of stocks (represented by S&P 500) versus safer investments like 10-year Treasury bonds. Higher returns on bonds relative to stocks suggest a flight to safety or risk aversion.
7. Junk Bond Demand:
• Measures the spread between yields on high-yield (junk) bonds and investment-grade bonds. Widening spreads may indicate increasing risk aversion as investors demand higher yields for riskier bonds.
Normalization and Weighting:
• Normalization: Each component is normalized to a scale of 0 to 100 using a function that adjusts the range based on historical highs and lows of the respective indicator.
• Weighting: The user can adjust the relative importance (weight) of each component using input parameters. This customization allows for different interpretations of market sentiment based on which factors are considered more influential.
Fear and Greed Index Calculation:
• The Fear and Greed Index is calculated as a weighted average of all normalized components. This index provides a single numerical value that summarizes the overall sentiment of the market based on the selected indicators.
Usage:
• Visualization: The indicator plots the Fear and Greed Index and its components on the chart. This allows traders and analysts to visually assess the sentiment trends over time.
• Analysis: Changes in the Fear and Greed Index can signal shifts in market sentiment. For example, a rising index may indicate increasing greed and potential overbought conditions, while a falling index may suggest increasing fear and potential oversold conditions.
• Customization: Traders can customize the indicator by adjusting the weights assigned to each component based on their trading strategies and market insights.
By integrating multiple fundamental indicators into a single index, the “CNN Fear and Greed Index” provides a comprehensive snapshot of market sentiment, helping traders make informed decisions about market entry, exit, and risk management strategies.
Options Overlay [Pro] IVR IV Skew Delta Exp.mv MurreyMath Expiry
𝗧𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗿𝗲𝗮𝗹 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 𝗱𝗮𝘁𝗮 𝗶𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗼𝗻 𝗧𝗿𝗮𝗱𝗶𝗻𝗴𝗩𝗶𝗲𝘄, 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗳𝗼𝗿 𝗼𝘃𝗲𝗿 𝟭𝟱𝟬+ 𝗹𝗶𝗾𝘂𝗶𝗱 𝗨𝗦 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝘆𝗺𝗯𝗼𝗹𝘀.
🔃 Auto-Updating Option Metrics without refresh!
🍒 Developed and maintained by option traders for option traders.
📈 Specifically designed for TradingView users who trade options.
Our indicator provides essential key metrics such as:
✅ IVRank
✅ IVx
✅ 5-Day IVx Change
✅ Delta curves and interpolated distances
✅ Expected move curve
✅ Standard deviation (STD1) curve
✅ Vertical Pricing Skew
✅ Horizontal IVx Skew
✅ Delta Skew
like TastyTrade, TOS, IBKR etc, but in a much more visually intuitive way. See detailed descriptions below.
If this isn't enough, we also include a unique grid system designed specifically for options traders. This package features our innovative dynamic grid system:
✅ Enhanced Murrey Math levels (horizontal scale)
✅ Options expirations (vertical scale)
Designed to help you assess market conditions and make well-informed trading decisions, this tool is an essential addition for every serious options trader!
Ticker Information:
This indicator is currently implemented for more than 150 liquid US market tickers and we are continuously expanding the list:
SP:SPX AMEX:SPY NASDAQ:QQQ NASDAQ:TLT AMEX:GLD
NYSE:AA NASDAQ:AAL NASDAQ:AAPL NYSE:ABBV NASDAQ:ABNB NASDAQ:AMD NASDAQ:AMZN AMEX:ARKK NASDAQ:AVGO NYSE:AXP NYSE:BA NYSE:BABA NYSE:BAC NASDAQ:BIDU AMEX:BITO NYSE:BMY NYSE:BP NASDAQ:BYND NYSE:C NYSE:CAT NYSE:CCJ NYSE:CCL NASDAQ:COIN NYSE:COP NASDAQ:COST NYSE:CRM NASDAQ:CRWD NASDAQ:CSCO NYSE:CVNA NYSE:CVS NYSE:CVX NYSE:DAL NASDAQ:DBX AMEX:DIA NYSE:DIS NASDAQ:DKNG NASDAQ:EBAY NASDAQ:ETSY NASDAQ:EXPE NYSE:F NYSE:FCX NYSE:FDX AMEX:FXI AMEX:GDX AMEX:GDXJ NYSE:GE NYSE:GM NYSE:GME NYSE:GOLD NASDAQ:GOOG NASDAQ:GOOGL NYSE:GPS NYSE:GS NASDAQ:HOOD NYSE:IBM NASDAQ:IEF NASDAQ:INTC AMEX:IWM NASDAQ:JD NYSE:JNJ NYSE:JPM NYSE:JWN NYSE:KO NYSE:LLY NYSE:LOW NYSE:LVS NYSE:MA NASDAQ:MARA NYSE:MCD NYSE:MET NASDAQ:META NYSE:MGM NYSE:MMM NYSE:MPC NYSE:MRK NASDAQ:MRNA NYSE:MRO NASDAQ:MRVL NYSE:MS NASDAQ:MSFT AMEX:MSOS NYSE:NCLH NASDAQ:NDX NYSE:NET NASDAQ:NFLX NYSE:NIO NYSE:NKE NASDAQ:NVDA NASDAQ:ON NYSE:ORCL NYSE:OXY NASDAQ:PEP NYSE:PFE NYSE:PINS NYSE:PLTR NASDAQ:PTON NASDAQ:PYPL NASDAQ:QCOM NYSE:RBLX NYSE:RCL NASDAQ:RIOT NASDAQ:RIVN NASDAQ:ROKU NASDAQ:SBUX NYSE:SHOP AMEX:SLV NASDAQ:SMCI NASDAQ:SMH NYSE:SNAP NYSE:SQ NYSE:T NYSE:TGT NASDAQ:TQQQ NASDAQ:TSLA NYSE:TSM NASDAQ:TTD NASDAQ:TXN NYSE:U NASDAQ:UAL NYSE:UBER AMEX:UNG NYSE:UPS NASDAQ:UPST AMEX:USO NYSE:V AMEX:VXX NYSE:VZ NASDAQ:WBA NYSE:WFC NYSE:WMT NASDAQ:WYNN NYSE:X AMEX:XHB AMEX:XLE AMEX:XLF AMEX:XLI AMEX:XLK AMEX:XLP AMEX:XLU AMEX:XLV AMEX:XLY NYSE:XOM NYSE:XPEV CBOE:XSP NASDAQ:ZM
How does the indicator work and why is it unique?
This Pine Script indicator is a complex tool designed to provide various option metrics and visualization tools for options market traders. The indicator extracts raw options data from an external data provider (ORATS), processes and refines the delayed data package using pineseed, and sends it to TradingView, visualizing the data using specific formulas (see detailed below) or interpolated values (e.g., delta distances). This method of incorporating options data into a visualization framework is unique and entirely innovative on TradingView.
The indicator aims to offer a comprehensive view of the current state of options for the implemented instruments, including implied volatility (IV), IV rank (IVR), options skew, and expected market movements, which are objectively measured as detailed below.
The options metrics we display may be familiar to options traders from various major brokerage platforms such as TastyTrade, IBKR, TOS, Tradier, TD Ameritrade, Schwab, etc.
🟨 𝗗𝗘𝗧𝗔𝗜𝗟𝗘𝗗 𝗗𝗢𝗖𝗨𝗠𝗘𝗡𝗧𝗔𝗧𝗜𝗢𝗡 🟨
🔶 Auto-Updating Option Metrics and Curved Lines
🔹 Interpolated DELTA Curves (16,20,25,30,40)
In our indicator, the curve layer settings allow you to choose the delta value for displaying the delta curve: 16, 20, 25, 30, or even 40. The color of the curve can be customized, and you can also hide the delta curve by selecting the "-" option.
It's important to mention that we display interpolated deltas from the actual option chain of the underlying asset using the Black-Scholes model. This ensures that the 16 delta truly reflects the theoretical, but accurate, 16 delta distance. (For example, deltas shown by brokerages for individual strikes are rounded; a 0.16 delta might actually be 0.1625.)
🔹 Expected Move Curve (Exp.mv)
The expected move is the predicted dollar change in the underlying stock's price by a given option's expiration date, with 68% certainty. It is calculated using the expiration's pricing and implied volatility levels. We chose the TastyTrade method for calculating expected move, as we found it to be the most expressive.
Expected Move Calculation
Expected Move = (ATM straddle price x 0.6) + (1st OTM strangle price x 0.3) + (2nd OTM strangle price x 0.1)
For example , if stock XYZ is trading at 121 and the ATM straddle is 4.40, the 120/122 strangle is 3.46, and the 119/123 strangle is 2.66, the expected move is calculated as follows: 4.40 x 0.60 = 2.64; 3.46 x 0.30 = 1.04; 2.66 x 0.10 = 0.27; Expected move = 2.64 + 1.04 + 0.27 = ±3.9
In this example below, the TastyTrade platform indicates the expected move on the option chain with a brown color, and the exact value is displayed behind the ± symbol for each expiration. By default, we also use brown for this indication, but this can be changed or the curve display can be turned off.
🔹 Standard Deviation Curve (1 STD)
One standard deviation of a stock encompasses approximately 68.2% of outcomes in a distribution of occurrences based on current implied volatility.
We use the expected move formula to calculate the one standard deviation range of a stock. This calculation is based on the days-to-expiration (DTE) of our option contract, the stock price, and the implied volatility of a stock:
Calculation:
Standard Deviation = Closing Price * Implied Volatility * sqrt(Days to Expiration / 365)
According to options literature, there is a 68% probability that the underlying asset will fall within this one standard deviation range at expiration.
If the 1 STD and Exp.mv displays are both enabled, the indicator fills the area between them with a light gray color. This is because both represent probability distributions that appear as a "bell curve" when graphed, making it visually appealing.
Tip and Note:
The 1 STD line might appear jagged at times , which does not indicate a problem with the indicator. This is normal immediately after market open (e.g., during the first data refresh of the day) or if the expirations are illiquid (e.g., weekly expirations). The 1 STD value is calculated based on the aggregated IVx for the expirations, and the aggregated IVx value for weekly expirations updates less frequently due to lower trading volume. In such cases, we recommend enabling the "Only Monthly Expirations" option to smooth out the bell curve.
∑ Quant Observation:
The values of the expected move and the 1st standard deviation (1STD) will not match because they use different calculation methods, even though both are referred to as representing 68% of the underlying asset's movement in options literature. The expected move is based on direct market pricing of ATM options. The 1STD, on the other hand, uses the averaged implied volatility (IVX) for the given expiration to determine its value. Based on our experience, it is better to consider the area between the expected move and the 1STD as the true representation of the original 68% rule.
🔶 IVR Dashboard Panel Rows
🔹 IVR (IV Rank)
The Implied Volatility Rank (IVR) indicator helps options traders assess the current level of implied volatility (IV) in comparison to the past 52 weeks. IVR is a useful metric to determine whether options are relatively cheap or expensive. This can guide traders on whether to buy or sell options. We calculate IVrank, like TastyTrade does.
IVR Calculation:
IV Rank = (current IV - 52 week IV low) / (52 week IV high - 52 week IV low)
IVR Levels and Interpretations:
IVR 0-10 (Green): Very low implied volatility rank. Options might be "cheap," potentially a good time to buy options.
IVR 10-35 (White): Normal implied volatility rank. Options pricing is relatively standard.
IVR 35-50 (Orange): Almost high implied volatility rank.
IVR 50-75 (Red): Definitely high implied volatility rank. Options might be "expensive," potentially a good time to sell options for higher premiums.
IVR above 75 (Highlighted Red): Ultra high implied volatility rank. Indicates very high levels, suggesting a favorable time for selling options.
The panel refreshes automatically if the symbol is implemented. You can hide the panel or change the position and size.
🔹IVx (Implied Volatility Index)
The Implied Volatility Index (IVx) displayed in the option chain is calculated similarly to the VIX. The Cboe uses standard and weekly SPX options to measure the expected volatility of the S&P 500. A similar method is utilized to calculate IVx for each option expiration cycle.
For our purposes on the IVR Panel, we aggregate the IVx values specifically for the 35-70 day monthly expiration cycle . This aggregated value is then presented in the screener and info panel, providing a clear and concise measure of implied volatility over this period.
IVx Color coding:
IVx above 30 is displayed in orange.
IVx above 60 is displayed in red
IVx on curve:
The IVx values for each expiration can be viewed by hovering the mouse over the colored tooltip labels above the Curve.
IVx avg on IVR panel :
If the option is checked in the IVR panel settings, the IVR panel will display the average IVx values up to the optimal expiration.
Important Note:
The IVx value alone does not provide sufficient context. There are stocks that inherently exhibit high IVx values. Therefore, it is crucial to consider IVx in conjunction with the Implied Volatility Rank (IVR), which measures the IVx relative to its own historical values. This combined view helps in accurately assessing the significance of the IVx in relation to the specific stock's typical volatility behavior.
This indicator offers traders a comprehensive view of implied volatility, assisting them in making informed decisions by highlighting both the absolute and relative volatility measures.
🔹IVx 5 days change %
We are displaying the five-day change of the IV Index (IVx value). The IV Index 5-Day Change column provides quick insight into recent expansions or decreases in implied volatility over the last five trading days.
Traders who expect the value of options to decrease might view a decrease in IVX as a positive signal. Strategies such as Strangle and Ratio Spread can benefit from this decrease.
On the other hand, traders anticipating further increases in IVX will focus on the rising IVX values. Strategies like Calendar Spread or Diagonal Spread can take advantage of increasing implied volatility.
This indicator helps traders quickly assess changes in implied volatility, enabling them to make informed decisions based on their trading strategies and market expectations.
🔹 Vertical Pricing Skew
At TanukiTrade, Vertical Pricing Skew refers to the difference in pricing between put and call options with the same expiration date at the same distance (at expected move). We analyze this skew to understand market sentiment. This is the same formula used by TastyTrade for calculations.
We calculate the interpolated strike price based on the expected move , taking into account the neighboring option prices and their distances. This allows us to accurately determine whether the CALL or PUT options are more expensive.
PUT Skew (red): Put options are more expensive than call options, indicating the market expects a downward move (▽). If put options are more expensive by more than 20% at the same expected move distance, we color it lighter red.
CALL Skew (green): Call options are more expensive than put options, indicating the market expects an upward move (△). If call options are priced more than 30% higher at the examined expiration, we color it lighter green.
Vertical Skew on Curve:
The degree of vertical pricing skew for each expiration can be viewed by hovering over the points above the curve. Hover with mouse for more information.
Vertical Skew on IVR panel:
We focus on options with 35-70 days to expiration (DTE) for optimal analysis in case of vertical skew. Hover with mouse for more information.
This approach helps us gauge market expectations accurately, providing insights into potential price movements. Remember, we always evaluate the skew at the expected move using linear interpolation to determine the theoretical pricing of options.
🔹 Delta Skew 🌪️ (Twist)
We have a new metric that examines which monthly expiration indicates a "Delta Skew Twist" where the 16 delta deviates from the monthly STD. This is important because, under normal circumstances, the 16 delta is positioned between the expected move and the standard deviation (STD1) line (see Exp.mv & 1STD exact definitions above). However, if the interpolated 16 delta line exceeds the STD1 line either upwards or downwards, it represents a special case of vertical skew on the option chain.
Normal case : exp.move < delta16 < std1
Delta Skew Twist: exp.move < std1 < delta16
We indicate this with direction-specific colors (red/green) on the delta line. We also color the section of the delta curve affected by the delta skew in this case, even if you choose to display a lower delta, such as 30, instead of 16.
If "Colored Labels with Tooltips" is enabled, we also display a 🌪️ symbol in the tooltip for the expirations affected by Delta Skew.
If you have enabled the display of 'Vertical Pricing Skew' on the IVR Panel, a 🌪️ symbol will also appear next to the value of the vertical skew, and the tooltip will indicate from which expiration Delta Skew is observed.
🔹 Horizontal IVx Skew
In options pricing, it is typically expected that the implied volatility (IVx) increases for options with later expiration dates. This means that options further out in time are generally more expensive. At TanukiTrade, we refer to the phenomenon where this expectation is reversed—when the IVx decreases between two consecutive expirations—as Horizontal Skew or IVx Skew.
Horizontal IVx Skew occurs when: Front Expiry IVx < Back Expiry IVx
This scenario can create opportunities for traders who prefer diagonal or calendar strategies . Based on our experience, we categorize Horizontal Skew into two types:
Weekly Horizontal Skew:
When IVx skew is observed between two consecutive non-monthly expirations, the displayed value is the rounded-up percentage difference. On hover, the approximate location of this skew is also displayed. The precise location can be seen on this indicator.
Monthly Horizontal Skew:
When IVx skew is observed between two consecutive monthly expirations , the displayed value is the rounded-up percentage difference. On hover, the approximate location of this skew is also displayed. The precise location can be seen on our Overlay indicator.
The Monthly Vertical IVx skew is consistently more liquid than the weekly vertical IVx skew. Weekly Horizontal IVx Skew may not carry relevant information for symbols not included in the 'Weeklies & Volume Masters' preset in our Options Screener indicator.
If the options chain follows the normal IVx pattern, no skew value is displayed.
Color codes or tooltip labels above curve:
Gray - No horizontal skew;
Purple - Weekly horizontal skew;
BigBlue - Monthly horizontal skew
The display of monthly and weekly IVx skew can be toggled on or off on the IVR panel. However, if you want to disable the colored tooltips above the curve, this can only be done using the "Colored labels with tooltips" switch.
We indicate this range with colorful information bubbles above the upper STD line.
🔶 The Option Trader’s GRID System: Adaptive MurreyMath + Expiry Lines
At TanukiTrade, we utilize Enhanced MurreyMath and Expiry lines to create a dynamic grid system, unlike the basic built-in vertical grids in TradingView, which provide no insight into specific price levels or option expirations.
These grids are beneficial because they provide a structured layout, making important price levels visible on the chart. The grid automatically resizes as the underlying asset's volatility changes, helping traders identify expected movements for various option expirations.
The Option Trader’s GRID System part of this indicator can be used without limitations for all instruments . There are no type or other restrictions, and it automatically scales to fit every asset. Even if we haven't implemented the option metrics for a particular underlying asset, the GRID system will still function!
🔹 SETUP OF YOUR OPTIONS GRID SYSTEM
You can setup your new grid system in 3 easy steps!
STEP1: Hide default horizontal grid lines in TradingView
Right-click on an empty area of your chart, then select “Settings.” In the Chart settings -> Canvas -> Grid lines section, disable the display of horizontal lines to avoid distraction.
SETUP STEP2: Scaling fix
Right-click on the price scale on the right side, then select "Scale price chart only" to prevent the chart from scaling to the new horizontal lines!
STEP3: Enable Tanuki Options Grid
As a final step, make sure that both the vertical (MurreyMath) and horizontal (Expiry) lines are enabled in the Grid section of our indicator.
You are done, enjoy the new grid system!
🔹 HORIZONTAL: Enhanced MurreyMath Lines
Murrey Math lines are based on the principles observed by William Gann, renowned for his market symmetry forecasts. Gann's techniques, such as Gann Angles, have been adapted by Murrey to make them more accessible to ordinary investors. According to Murrey, markets often correct at specific price levels, and breakouts or returns to these levels can signal good entry points for trades.
At TanukiTrade, we enhance these price levels based on our experience , ensuring a clear display. We acknowledge that while MurreyMath lines aren't infallible predictions, they are useful for identifying likely price movements over a given period (e.g., one month) if the market trend aligns.
Our opinion: MurreyMath lines are not crystal balls (like no other tool). They should be used to identify that if we are trading in the right direction, the price is likely to reach the next unit step within a unit time (e.g. monthly expiration).
One unit step is the distance between Murrey Math lines, such as between the 0/8 and 1/8 lines. This interval helps identify different quadrants and is crucial for recognizing support and resistance levels.
Some option traders use Murrey Math lines to gauge the movement speed of an instrument over a unit time. A quadrant encompasses 4 unit steps.
Key levels, according to TanukiTrade, include:
Of course, the lines can be toggled on or off, and their default color can also be changed.
🔹 VERTICAL: Expiry Lines
The indicator can display monthly and weekly expirations as dashed lines, with customizable colors. Weekly expirations will always appear in a lighter shade compared to monthly expirations.
Monthly Expiry Lines:
You can turn off the lines indicating monthly expirations, or set the direction (past/future/both) and the number of lines to be drawn.
Weekly Expiry Lines:
You can display weekly expirations pointing to the future. You can also turn them off or specify how many weeks ahead the lines should be drawn.
Of course, the lines can be toggled on or off, and their default color can also be changed.
TIP: Hide default vertical grid lines in TradingView
Right-click on an empty area of your chart, then select “Settings.” In the Chart settings -> Canvas -> Grid lines section, disable the display of vertical lines to avoid distraction. Same, like steps above at MurreyMath lines.
🔶 ADDITIONAL IMPORTANT COMMENTS
- U.S. market only:
Since we only deal with liquid option chains: this option indicator only works for the USA options market and do not include future contracts; we have implemented each selected symbol individually.
- Why is there a slight difference between the displayed data and my live brokerage data? There are two reasons for this, and one is beyond our control.
- Brokerage Calculation Differences:
Every brokerage has slight differences in how they calculate metrics like IV and IVx. If you open three windows for TOS, TastyTrade, and IBKR side by side, you will notice that the values are minimally different. We had to choose a standard, so we use the formulas and mathematical models described by TastyTrade when analyzing the options chain and drawing conclusions.
- Option-data update frequency:
According to TradingView's regulations and guidelines, we can update external data a maximum of 5 times per day. We strive to use these updates in the most optimal way:
(1st update) 15 minutes after U.S. market open
(2nd, 3rd, 4th updates) 1.5–3 hours during U.S. market open hours
(5th update) 10 minutes before market close.
You don’t need to refresh your window, our last refreshed data-pack is always automatically applied to your indicator , and you can see the time elapsed since the last update at the bottom of your indicator.
- Skewed Curves:
The delta, expected move, and standard deviation curves also appear relevantly on a daily or intraday timeframe. Data loss is experienced above a daily timeframe: this is a TradingView limitation.
- Weekly illiquid expiries:
Especially for instruments where weekly options are illiquid: the weekly expiration STD1 data is not relevant. In these cases, we recommend checking in the "Display only Monthly labels" checkbox to avoid displaying not relevant weekly options expirations.
-Timeframe Issues:
Our option indicator visualizes relevant data on a daily resolution. If you see strange or incorrect data (e.g., when the options data was last updated), always switch to a daily (1D) timeframe. If you still see strange data, please contact us.
Disclaimer:
Our option indicator uses approximately 15min-3 hour delayed option market snapshot data to calculate the main option metrics. Exact realtime option contract prices are never displayed; only derived metrics and interpolated delta are shown to ensure accurate and consistent visualization. Due to the above, this indicator can only be used for decision support; exclusive decisions cannot be made based on this indicator . We reserve the right to make errors.This indicator is designed for options traders who understand what they are doing. It assumes that they are familiar with options and can make well-informed, independent decisions. We work with public data and are not a data provider; therefore, we do not bear any financial or other liability.
Options SCREENER [Lite] - IVRank, IVx, Deltas, Exp.move, Skew
𝗢𝗽𝘁𝗶𝗼𝗻 𝘀𝗰𝗿𝗲𝗲𝗻𝗲𝗿 𝗼𝗻 𝗧𝗿𝗮𝗱𝗶𝗻𝗴𝗩𝗶𝗲𝘄 𝘄𝗶𝘁𝗵 𝗿𝗲𝗮𝗹 𝗱𝗮𝘁𝗮, 𝗼𝗻𝗹𝘆 𝗳𝗼𝗿 𝟱 𝗹𝗶𝗾𝘂𝗶𝗱 𝗨𝗦 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝘆𝗺𝗯𝗼𝗹𝘀
𝗢𝘂𝗿 𝘀𝗰𝗿𝗲𝗲𝗻𝗲𝗿 𝗽𝗿𝗼𝘃𝗶𝗱𝗲𝘀 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹 𝗸𝗲𝘆 𝗺𝗲𝘁𝗿𝗶𝗰𝘀 𝘀𝘂𝗰𝗵 𝗮𝘀:
✅ IVRank
✅ IVx
✅ 5-Day IVx Change
✅ Vertical Pricing Skew
✅ Horizontal IVx Skew
✅ Delta Skew
like TastyTrade, TOS, IBKR etc.
Designed to help you assess option market conditions and make well-informed trading decisions, this tool is an essential addition for every serious options trader!
Ticker Information:
This screener is currently implemented only for 5 liquid US market tickers:
NASDAQ:AAPL NASDAQ:AMZN AMEX:DIA NYSE:ORCL and NASDAQ:TSLA
How does the screener work and why is it unique?
This Pine Script screener is an expert tool created to provide various option metrics and visualization tools for options market traders. The screener extracts raw options data from an external data provider (ORATS), processes, and refines the delayed data package using pineseed, and sends it to TradingView. The data is calculated using specific formulas or interpolated values, such as delta distances. This method of integrating options data into a screener framework is unique and innovative on TradingView.
The screener aims to offer a comprehensive view of the current state of options for the implemented instruments, including implied volatility index (IVx), IV rank (IVR), options skew, and expected market movements, which are objectively measured as detailed below.
The options metrics displayed may be familiar to options traders from various major brokerage platforms such as TastyTrade, IBKR, TOS, Tradier, TD Ameritrade, Schwab, etc.
🟨 𝗗𝗘𝗧𝗔𝗜𝗟𝗘𝗗 𝗗𝗢𝗖𝗨𝗠𝗘𝗡𝗧𝗔𝗧𝗜𝗢𝗡 🟨
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🔶 Auto-Updating Option Metrics
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🔹 IVR (IV Rank)
The Implied Volatility Rank (IVR) indicator helps options traders assess the current level of implied volatility (IV) in comparison to the past 52 weeks. IVR is a useful metric to determine whether options are relatively cheap or expensive. This can guide traders on whether to buy or sell options. We calculate IVrank, like TastyTrade does.
IVR Calculation: IV Rank = (current IV - 52 week IV low) / (52 week IV high - 52 week IV low)
IVR Levels and Interpretations:
IVR 0-10 (Green): Very low implied volatility rank. Options might be "cheap," potentially a good time to buy options.
IVR 10-35 (White): Normal implied volatility rank. Options pricing is relatively standard.
IVR 35-50 (Orange): Almost high implied volatility rank.
IVR 50-75 (Red): Definitely high implied volatility rank. Options might be "expensive," potentially a good time to sell options for higher premiums.
IVR above 75 (Highlighted Red): Ultra high implied volatility rank. Indicates very high levels, suggesting a favorable time for selling options.
Extra: If the IVx value is also greater than 30, the background will be dark highlighted, because a high IVR alone doesn’t mean much without high IVx.
🔹IVx (Implied Volatility Index)
The Implied Volatility Index (IVx) displayed in the option chain is calculated similarly to the VIX. The Cboe employs standard and weekly SPX options to measure the expected volatility of the S&P 500. A similar method is utilized to calculate IVx for each option expiration cycle.
For our purposes, we aggregate the IVx values specifically for the 35-70 day monthly expiration cycle . This aggregated value is then presented in the screener and info panel, providing a clear and concise measure of implied volatility over this period.
We will display a warning if the option chain is heavily skewed and valid, symmetric 16 delta options are not found at optimal monthly expirations.
IVx Color coding:
IVx above 30 is displayed in orange.
IVx above 60 is displayed in red
Important Note: The IVx value alone does not provide sufficient context. There are stocks that inherently exhibit high IVx values. Therefore, it is crucial to consider IVx in conjunction with the Implied Volatility Rank (IVR), which measures the IVx relative to its own historical values. This combined view helps in accurately assessing the significance of the IVx in relation to the specific stock's typical volatility behavior.
This indicator offers traders a comprehensive view of implied volatility, assisting them in making informed decisions by highlighting both the absolute and relative volatility measures.
🔹IVx 5 days change %
We are displaying the five-day change of the IV Index (IVx value). The IV Index 5-Day Change column provides quick insight into recent expansions or decreases in implied volatility over the last five trading days.
Traders who expect the value of options to decrease might view a decrease in IVX as a positive signal. Strategies such as Strangle and Ratio Spread can benefit from this decrease.
On the other hand, traders anticipating further increases in IVX will focus on the rising IVX values. Strategies like Calendar Spread or Diagonal Spread can take advantage of increasing implied volatility.
This indicator helps traders quickly assess changes in implied volatility, enabling them to make informed decisions based on their trading strategies and market expectations.
🔹 Vertical Pricing Skew
At TanukiTrade, Vertical Pricing Skew refers to the difference in pricing between put and call options with the same expiration date at the same distance (at expected move). We analyze this skew to understand market sentiment. This is the same formula used by TastyTrade for calculations.
PUT Skew (red): Put options are more expensive than call options, indicating the market expects a downward move (▽). If put options are more expensive by more than 20% at the same expected move distance, we color it lighter red.
CALL Skew (green): Call options are more expensive than put options, indicating the market expects an upward move (△). If call options are priced more than 30% higher at the examined expiration, we color it lighter green.
We focus on options with 35-70 days to expiration (DTE) for optimal analysis. We always evaluate the skew at the expected move using linear interpolation to determine the theoretical pricing of options. If the pricing have more than C50%/P35% we are highlighting the cell.
This approach helps us gauge market expectations accurately, providing insights into potential price movements.
🔹 Horizontal IVx Skew
In options pricing, it is typically expected that the implied volatility (IVx) increases for options with later expiration dates. This means that options further out in time are generally more expensive. At TanukiTrade, we refer to the phenomenon where this expectation is reversed—when the IVx decreases between two consecutive expirations—as Horizontal Skew or IVx Skew.
Horizontal IVx Skew occurs when: Front Month IVx < Back Month IVx
This scenario can create opportunities for traders who prefer diagonal or calendar strategies. Based on our experience, we categorize Horizontal Skew into two types:
Weekly Horizontal Skew: When IVx skew is observed between two consecutive non-monthly expirations , the displayed value is the rounded-up percentage difference. On hover, the approximate location of this skew is also displayed. The precise location can be seen on the Overlay indicator.
Monthly Horizontal Skew: When IVx skew is observed between two consecutive monthly expirations , the displayed value is the rounded-up percentage difference. On hover, the approximate location of this skew is also displayed. The precise location can be seen on the Overlay indicator.
The Monthly Vertical IVx skew is consistently stronger (more liquid) on average symbols than the weekly vertical IVx skew. Weekly Horizontal IVx Skew may not carry relevant information for symbols not included in the 'Weeklies & Volume Masters' preset.
If the options chain follows the normal IVx pattern, no skew value is displayed.
Additionally , if the Implied Volatility Rank (IVR) is low (indicated by green), the Horizontal Skew background turns black, because this environment is good for Calendar+Diagonal.
Additionally , if the % of the skew is greater than 10, the Horizontal Skew font color turns lighter.
🔹 Delta Skew 🌪️ (Twist)
We have a metric that examines which monthly expiration indicates a "Delta Skew Twist" where the 16 delta deviates from the monthly STD. This is important because, under normal circumstances, the 16 delta is positioned between the expected move and the standard deviation (STD1) line. However, if the interpolated 16 delta line exceeds the STD1 line either upwards or downwards, it represents a special case of vertical skew.
Normal case : exp.move < delta16 < std1
Delta Skew Twist: exp.move < std1 < delta16
If the Days to Expiration of the twist is less than 75, we use a lighter color.
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🔶 HOW WE CALCULATE
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🔹 Expected Move
The expected move is the predicted dollar change in the underlying stock's price by a given option's expiration date, with 68% certainty. It is calculated using the expiration's pricing and implied volatility levels.
Expected Move Calculation
Expected Move = (ATM straddle price x 0.6) + (1st OTM strangle price x 0.3) + (2nd OTM strangle price x 0.1)
For example , if stock XYZ is trading at 121 and the ATM straddle is 4.40, the 120/122 strangle is 3.46, and the 119/123 strangle is 2.66, the expected move is calculated as follows: 4.40 x 0.60 = 2.64; 3.46 x 0.30 = 1.04; 2.66 x 0.10 = 0.27; Expected move = 2.64 + 1.04 + 0.27 = ±3.9
🔹 Standard deviation
One standard deviation of a stock encompasses approximately 68.2% of outcomes in a distribution of occurrences based on current implied volatility.
We use the expected move formula to calculate the one standard deviation range of a stock. This calculation is based on the days-to-expiration (DTE) of our option contract, the stock price, and the implied volatility of a stock:
Calculation:
Standard Deviation = Closing Price * Implied Volatility * sqrt(Days to Expiration / 365)
According to options literature, there is a 68% probability that the underlying asset will fall within this one standard deviation range at expiration.
∑ Quant Observation: The values of the expected move and the 1st standard deviation (1STD) will not match because they use different calculation methods, even though both are referred to as representing 68% of the underlying asset's movement in options literature. The expected move is based on direct market pricing of ATM options. The 1STD, on the other hand, uses the averaged implied volatility (IVX) for the given expiration to determine its value. Based on our experience, it is better to consider the area between the expected move and the 1STD as the true representation of the original 68% rule.
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🔶 USAGE
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🔹 Create a new empty layout for the screener!
You can access this from the dropdown menu in the upper right corner. In the popup window, name it as you like, for example, "Option Screener."
🔹 Hide the candlestick chart
Make the chart invisible using the "Hide" option from the three-dot dropdown menu located in the upper left corner.
🔹 Other Unwanted Elements
If other unnecessary elements are distracting you (e.g., economic data, volume, default grid), you can easily remove them from the layout. Right-click on the empty chart area. Here, click on the gear (Settings) icon and remove everything from the "Events" tab, as well as from the "Trading" tab. Under the "Canvas" tab, it is recommended to set the "Grid lines" setting to "None."
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🔶 Screener Settings
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Naturally, the font size and position can be easily adjusted.
Additionally, there are two basic usage modes: manual input or using the preset list.
🔹If you selected “Manual Below” in the preset dropdown, the tickers you chose from the dropdown (up to a maximum of 40) will be displayed. The panel name will be the one you specified.
🔹If you selected a pre-assembled list , the manually entered list will be ignored, and the preset list will be displayed. (In the future, we will expand the preset list based on your feedback!).
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🔶 Best Practices for TanukiTrade Option Screener:
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🔹 Every Preset on a New Layout:
If you following the steps above, you easy can setup this screener in one window with one split layout:
🔹 Split Layout:
- Left Side: The underlying asset with our Options IV Overlay (IVR, Deltas, Expected Move, STD1, Skew visualized) along with the Enhanced Murrey Math Indicator and Option Expiry.
- Right Side: Searching for opportunities using our Options Screener.
Opportunities Search
🔹 Everything in One Layout + One Window:
This is the all-in-one view:
- The underlying asset with our Options IV Overlay (IVR, Deltas, Expected Move, STD1, Skew visualized)
- Enhanced Murrey Math Indicator and Option Expiry
- Options Screener on the left
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🔶 ADDITIONAL IMPORTANT COMMENTS
- U.S. market only:
Since we only deal with liquid option chains: this option indicator only works for the USA options market and do not include future contracts; we have implemented each selected symbol individually.
- Why is there a slight difference between the displayed data and my live brokerage data? There are two reasons for this, and one is beyond our control.
- Brokerage Calculation Differences:
Every brokerage has slight differences in how they calculate metrics like IV and IVx. If you open three windows for TOS, TastyTrade, and IBKR side by side, you will notice that the values are minimally different. We had to choose a standard, so we use the formulas and mathematical models described by TastyTrade when analyzing the options chain and drawing conclusions.
- Option-data update frequency:
According to TradingView's regulations and guidelines, we can update external data a maximum of 5 times per day. We strive to use these updates in the most optimal way:
(1st update) 15 minutes after U.S. market open
(2nd, 3rd, 4th updates) 1.5–3 hours during U.S. market open hours
(5th update) 10 minutes before market close.
You don’t need to refresh your window, our last refreshed data-pack is always automatically applied to your indicator , and you can see the time elapsed since the last update at the bottom of your indicator.
- Weekly illiquid expiries:
The Weekly Horizontal IVx Skew may not carry relevant information for instruments not included in the 'Weeklies & Volume Masters' preset package.
-Timeframe Issues:
Our option indicator visualizes relevant data on a daily resolution. If you see strange or incorrect data (e.g., when the options data was last updated), always switch to a daily (1D) timeframe. If you still see strange data, please contact us.
Disclaimer:
Our option indicator uses approximately 15min-3 hour delayed option market snapshot data to calculate the main option metrics. Exact realtime option contract prices are never displayed; only derived metrics and interpolated delta are shown to ensure accurate and consistent visualization. Due to the above, this indicator can only be used for decision support; exclusive decisions cannot be made based on this indicator . We reserve the right to make errors.This indicator is designed for options traders who understand what they are doing. It assumes that they are familiar with options and can make well-informed, independent decisions. We work with public data and are not a data provider; therefore, we do not bear any financial or other liability.
Algos Asia Sweep"Algos Asia Sweep" Indicator is here to help "Asia sweep" traders with statistics and technical analysis.
This indicator includes three main parts:
1. It shows the three major sessions (Asia, London, and New York) as three boxes on the chart, so users can easily find the difference in volume and volatility in each session and use it to take trades with their own strategy.
2. It displays a "statistics table" in the upper-right corner of the chart with information about the breakouts of Asia session highs and lows during the last X days (the number of days used for the calculations can be changed depending on different timeframes and the TradingView edition the user has; it appears in the "session counted" row).
3. It indicates on each day if the Asia session high/low has been broken by creating a circle above the first bar that breaks the Asia high and below the first bar that breaks the Asia low. In addition, it creates a horizontal line at the last session's Asia low and high if they have not yet been broken.
HOW THE CALCULATIONS WORK?
Every day, the script finds each session's high and low. The script counts the number of Asia sessions that have occurred since it started working, and on each day, it identifies if the Asia session high/low/both have been broken. At the end, the indicator divides the number of times the Asia session high/low/both have been broken by the number of sessions executed.
-The indicator is set to GMT+3. Change it to your timezone.
-The indicator can't be used in higher timeframes than 4H, and it is not recommended to use it in higher timeframes than 1H.
-Everything you get from this indicator is NOT considered trading advice. The programmer is not a financial advisor. Any action/decision you make based on this indicator is at your own discretion. Always do your own research and trade only based on your personal judgment.
I would like to know your opinion about using this indicator. Please let me know in the comments.
Fourier Extrapolation of PriceOverview
The "Fourier Extrapolation of Price" indicator utilizes Fourier Transform methods to analyze and predict future price movements based on historical data. By decomposing price series into their frequency components, this indicator provides a forecast of future price trends, making it a powerful tool for traders seeking advanced analytical techniques.
Key Features
Fourier Transform Analysis: Applies Discrete Fourier Transform (DFT) to the price series to identify frequency components.
Price Prediction: Forecasts future prices based on the dominant frequencies detected in the historical data.
Customizable Parameters: Allows users to set the length of historical data for analysis and the forecast period.
Visual Representation: Plots historical and forecasted prices for easy comparison.
How It Works
The indicator first normalizes the price series by subtracting the mean. It then applies the Discrete Fourier Transform (DFT) to the normalized data, extracting the real and imaginary parts. The magnitude and phase of these components are used to forecast future prices through an inverse DFT. Finally, the forecasted prices are denormalized and plotted alongside the historical prices on the chart.
Usage Instructions
Configure Parameters: Set the length of the historical data (DFT Length) and the forecast period (Forecast Length) to suit your analysis.
Apply to Chart: Add the indicator to your chart to start the analysis. Note that the computation may take a minute to complete due to the complexity of the Fourier Transform.
Analyze Results: Review the plotted forecasted prices (in red) alongside the historical prices (in blue) to identify potential future trends.
Trading Decisions: Use the forecasted price trends to inform your trading decisions, such as identifying potential entry and exit points based on predicted market movements.
Note : Due to the computational complexity of the Fourier Transform, the prediction may take a minute to load. Please be patient as the indicator processes the data to provide accurate forecasts.
This indicator is useful for traders who:
Advanced Analysis: Seek advanced mathematical techniques for market analysis.
Trend Prediction: Want to forecast future price movements based on historical data.
Customizable Analysis: Prefer customizable parameters for tailored analysis.
Visual Insights: Appreciate visual representation of historical and forecasted prices for better decision-making.
Gap Trend Lines by @eyemaginativeSummary:
The "Gap Trend Lines" script is designed to identify and visualize gaps between the close of one candle and the opening of the next on a TradingView chart. It draws extended trend lines to visually connect these gaps, helping traders to identify significant price movements between consecutive candles.
Functionality:
Indicator Setup:
The script is set as an overlay indicator on the main chart.
It includes settings for maximum line and label counts, ensuring efficient performance.
Parameter Customization:
Gap Threshold: Defines the minimum gap size considered significant.
Line Colors: Allows customization of colors for small and large gaps.
Line Thickness and Style: Provides options to adjust the thickness and style (solid, dotted, dashed) of the trend lines.
Drawing Extended Trend Lines:
For each bar (candlestick) on the chart, the script checks if there is a gap between the previous candle's close and the current candle's open.
If a gap is detected (i.e., close != open), it determines the size of the gap.
Depending on the size relative to the defined threshold, it selects the appropriate color (small or large gap).
It then draws an extended trend line that starts from the close of the previous candle (bar_index , close ) and extends to the open of the current candle (bar_index, open).
The trend line is drawn with the specified thickness, color, and style.
Dynamic Line Attribute Changes:
The script includes a function (changeLineAttributes()) that periodically changes the color and style of the trend lines.
By default, it changes the color every 4 hours (adjustable), alternating between green and the original color.
Enhanced Functionality:
Handles both small and large gaps with different visual cues (colors).
Supports extended trend lines that span both past and future directions (extend=extend.both), ensuring visibility across the entire chart.
Usage:
Traders can use the "Gap Trend Lines" script to:
Identify and analyze gaps between candlesticks.
Visualize significant price movements or breaks in continuity.
Customize the appearance of trend lines for better clarity and analysis.
By utilizing this script, traders can gain insights into price gap dynamics directly on TradingView charts, aiding in decision-making and strategy development.
Exponential Grid [Phi, Pi, Euler]If you disagree with one of the EMH principles that price is too random, then by definition you must agree that historic price has deterministic function to a scenario ahead.
I personally believe that constants like phi, pi and e can mimic exponential growth of the price.
In this script, first grid is based on the Lowest price multiplied with self fraction of the constant.
For example:
If you are familiar with fib ratio 1.272, then you must know that it is 1.618 to the power of 0.5.
With default settings of exponent step 0.25
First grid = Lowest price x phi^0.25
Second grid = Lowest price x phi^0.25x2
Third grid = Lowest price x phi^0.25x3 and so on
The script will automatically find the lowest price and update the grid values.
Or you can set up your custom Lowest price manually if you feel like the All Time Low level loses its relevance value after long period.
There are 64 grids including Lowest price level. And it wasn't by a chance. Pine Script has a limitation of max 64 plots. Number of grids shown in the chart depends on the highest price. Once price breaks above ATH a couple of next grids will be plotted automatically. In most cases if everything is plotted, the chart appears squeezed and you'll need to zoom in to see it. Therefore, I adjusted it relatively to the scale of the chart for the comfort.
In some cases 64 plots aren't enough to cover the whole chart. For example, let's take a look at NVIDIA chart:
Since the price has started with 0.0333, it is way too small to cover all with default settings.
We are left with 2 choices:
Either Enable "Round"
OR increase Exponent Step (from 0.25 to 0.5 in the particular example below)
If you set constant to pi or e which is a bigger number than phi, expect the gaps to be bigger. To reduce it to a more gradual way of expansion you can decrease Exponent Step.
Earnings Beat IndicatorThis indicator seeks to predict whether a stock will beat or miss earnings by forecasting revenues, and subsequently net income, using linear regression. The y-values of this regression are revenues and the x-axis is an economic series of your choosing. Double-click the status line (the words "US" and "GDP") to change economic datasets. The full list of economic datasets available in TradingView is in the Help Center.
Instructions:
1. Double-click on the status line (the fields "US" and "GDP"). The inputs tab will pop up.
2. Type in the country and data codes for the economic datasets you believe have the highest correlation with revenues and net margins respectively.
3. Check the correlation coefficient between financial data and economic data by interpreting the white and gray numbers on the status line - white for the correlation coefficient between revenues and your chosen economic dataset, and gray for the correlation coefficient between net margins and your chosen economic dataset. These numbers should be as close to +1 or -1 as possible.
4. Interpret the results - the blue number indicates whether revenues will beat estimates and the green number indicates whether earnings will beat estimates. A 1 for both outputs indicates a double beat, a 1 and a 0 indicates a revenue beat but not an earnings beat, a 0 and a 1 indicates an earnings beat but not a revenue beat, and a 0 and a 0 indicates a double miss.
- DickZhones
COT-NocTradingIndicator Description:
Commitments of Traders (COT) Data Indicator
The Commitments of Traders (COT) Data Indicator on TradingView provides insights into market sentiment based on the weekly CFTC (Commodity Futures Trading Commission) reports. It plots three key lines derived from this data, offering valuable information for traders seeking to understand positioning trends among large speculators, commercial hedgers, and small traders.
Lines Plotted:
Commercials: Reflects positions held by commercial entities engaged in the production or sale of the underlying commodity. Their positions often act as a hedge against physical market exposure.
Non Commercials: Represents positions held by large speculators, typically hedge funds and large financial institutions, who often take more significant positions based on their market outlook.
Retail Traders: Shows positions held by small traders, including individual retail traders and smaller institutional players, providing insights into the broader retail sentiment.
Labeling:
Each line is accompanied by a label to clearly identify its corresponding group, enhancing clarity and ease of interpretation for traders analyzing the indicator.
Usage:
Trend Confirmation: Monitor the positioning of commercial and non commercial relative to retail traders to confirm trends and potential reversals.
Sentiment Analysis: Assess shifts in market sentiment based on changes in positioning across different trader categories.
Trading Signals: Use crossovers, divergences, and extreme positioning relative to historical data to generate potential trading signals.
This indicator is valuable for traders looking to incorporate institutional positioning data into their trading strategies, offering a deeper understanding of market dynamics beyond price action alone.
ADX and SADX, SDIThe indicator aims to analyze and visualize the Average Directional Index (ADX) and its smoothed versions, along with directional indicators (DI) to help traders identify trend strength and potential buy/sell signals.
Indicator Settings:
The indicator is named "ADX and SADX, SDI" and is set to display prices with a precision of 2 decimal places.
Users can customize the ADX smoothing length, DI length, ADX smoothing period, and DI smoothing period through input variables.
Directional Movement (DM) Calculation:
The function dirmov calculates the positive and negative directional movements (DM) and the smoothed values of the positive directional index (DI+) and negative directional index (DI-).
This is done using the average true range (ATR) to normalize the DM values.
Average Directional Index (ADX) Calculation:
The function adx calculates the ADX, which measures the strength of a trend.
It uses the DI+ and DI- values to compute the ADX value.
Smoothed ADX and DI Calculation:
The ADX values are further smoothed using a simple moving average (SMA).
The DI difference is also smoothed and used to determine the trend direction.
Buy and Sell Signals:
A buy signal is generated when the DI+ crosses above DI- and the smoothed DI difference is increasing.
A sell signal is generated when the DI- crosses above DI+ and the smoothed DI difference is decreasing.
Plotting:
The ADX, smoothed ADX, smoothed DI difference (SPM), DI+, and DI- values are plotted on the chart.
Horizontal lines are drawn to indicate threshold levels (e.g., level 22).
Background and bar colors change based on buy (lime) and sell (maroon) signals to visually indicate these conditions.
Purpose of the Code:
This Pine Script code is used to create a custom indicator on TradingView that helps traders identify the strength and direction of a trend. The Average Directional Index (ADX) is used to measure trend strength, while the Directional Indicators (DI+ and DI-) are used to determine the direction of the trend. The smoothed versions of these indicators (SADX and SDI) provide additional confirmation and smoothing to reduce noise and false signals. Traders can use the buy and sell signals generated by this indicator to make informed trading decisions based on the trend strength and direction.
Important Note:
This script is provided for educational purposes and does not constitute financial advice. Traders and investors should conduct their research and analysis before making any trading decisions.
Wosabi 2 Time Cycle Gann and candles v3Important Note: This indicator relies on your expertise in time cycles and does not provide any buy or sell signals. It helps you by automating the drawing of minor and major time cycles and digital gates, relying on your personal expertise. It simply draws a vertical line every 12 candles from your selected starting candle and repeats this until the cycle is complete after 12 minor cycles. Additionally, it calculates digital gates, and you need to configure the settings to choose the type of calculation for the digital gate, whether it's based on the commonly known digital gates (12-15-18) or gate targets, for example (369-693-936-258-582-825-147...), and then multiply them based on the price difference you input to draw horizontal lines for the expected gates. If a gate is broken, the price will continue to the next gate.
This indicator is an auxiliary tool for drawing the five, seven, ten, and even fifty or more cycles that Gann discussed. With its default settings, it draws vertical lines every 12 candles for 12 minor cycles (modifiable), forming a major cycle of 144 candles, which is the ten-cycle. (You should have experience in time cycle patterns as explained by Gann to know if the trend will continue up or down over time). The indicator only draws the columns that define the minor cycles, and their total forms the major cycle.
- The indicator also draws digital gates as horizontal lines, which you need to set manually and adjust the price difference from one currency to another in the settings.
- When adding the indicator for the first time, you must specify the starting candle of the trend, whether at a bottom or a top, and determine the highest or lowest price expected to reach five digital gates. If you expect an upward cycle, set the price at the resistance area where you expect the price to bounce. If you want to draw a downward cycle, set the price at the support area where you expect the bounce. You can later adjust the gates from the settings if you want to calculate them according to the digital gate. For example, if you start drawing the downward cycle for Bitcoin, as in the above picture when the highest price was 73881, we add the first two digits 7+3=10, 1+0=1, and the number 1 corresponds to gate 12, so you select it from the settings and then adjust the price difference to 1000 or its multiples since Bitcoin's price is in thousands. If it is another currency with a price not exceeding $100, adjust the price difference to 10 or its multiples. Thus, adjust the price difference from one currency to another. For currencies with values in fractions, the price difference will be 0.0001 or the closest figure to the currency's price, as an example.
- You can display a horizontal line at the close of each minor cycle, i.e., every 12 candles.
- You can display a strategic line at candle 42 from the start of the cycle. The strategic line is used to guide you; if the trend is up and doesn't close below this line after 7 minor cycles, the trend will likely continue up, or above it if the trend is down. In a downtrend, there are slightly different rules that can't be fully explained here.
- You can also display lines on the vibration candles, which are multiples of the number 3 from the start of the cycle, i.e., 3, 9, 12, 15, etc.
- When the trend is upward, the ending price should be higher than the starting price to draw the trend towards the gates correctly. When the trend is downward, the ending price should be lower than the starting price.
- You can now calculate digital gates in more than one way, and you can adjust the digital gates (if you have a specific method for calculating them), double them, or divide them.
** One of the most important additions is the ability to convert minor time cycles into candles to visualize the upcoming direction of the minor cycle.
ملاحظة هامة : هذا المؤشر يعتمد على خبرتك في الدورات الزمنية ولن يعطيك اي اشارات شراء او بيع فهو مؤشر يوفر عليك الرسم للدورات الزمنية الصغرى والكبرى والبوابات الرقمية ويعتمد على خبرتك الشخصية وعمله ببساطه يقوم برسم خط عمودي كل 12 شمعة من بعد اختيارك لاي شمعة ويكرر رسم الاعمده حتى اكتمال الدورة بعد 12 دورة زمنية صغرى كما انه يقوم بحساب البوابات الرقمية ويجب عليك ضبط الاعدادات من المؤشر باختيار نوع الحساب للبوابة الرقمية هل هو حساب البوابات الرقمية المتعارف عليها ( 12-15-18) او حسب اهداف البوابات كمثال (369-693-936-258-582-825-147.....) ثن يتم مضاعفتها حسب ادخالك لفارق الاسعار ليتم رسم خطوط افقيه للبوابات المتوقع اذا كسرها يستمر السعر بالوصول للبوابة التي تليها .
هذا المؤشر اداة مساعدة لرسم دورة الخمس او السبع اوالعشر وحتى الخمسين واكثر التي تحدث عنها gan ، فهو باعداداته الافتراضية يرسم خطوط اعمده راسية كل 12 شمعة ولعدد 12 دورة صغرى (يمكن تعديلها) لتتكون دورة كبرى من 144 شمعة وهي دورة العشرة ، (يجب ان يكون ليك خبرة في انماط الدورات الزمنية كما شرحها gan لتعرف هل سيستمر الصعود او الهبوط زمنياً ) فالمؤشر فقط يرسم الاعمدة التي تحدد الدورات الصغرى ومجموعها يكون الدورة الكبرى .
- يقوم المؤشر ايضا برسم البوابات الرقمية في خطوط افقية وعليك تحديدها بشكل يدوي وتعديل فارق السعر من عملة لاخرى من الاعدادات .
- عند اضافة المؤشر لاول مرة يجب تحديد شمعة بداية الاتجاه سواء عند قاع او قمة وكذلك تحديد السعر الاعلى او الادنى المتوقع ان تصل له خمس بوابات رقمية فاذا كنت تتوقع ان الدورة صاعدة فحينها تحدد السعر عند منطقة المقاومة التي تتوقع ان يرتد منها السعر وان كنت تريد رسم دورة هابطة فحينها تحدد السعر عند منطقة الدعم المتوقع الارتداد منه ويمكنك تعديل البوابات لاحقا من الاعدادات اذا اردت حسابها حسب البوابة الرقمية على سبيل المثال اذا رسمت بداية الدورة الهابطة للبيتكوين كما في الصورة اعلاه حينما كان سعر اعلى قمة 73881 نقوم بجمع اول رقمين و هم 7+3=10 , 1+0=1 والرقم 1 يتبع البوابه 12 فتقوم باختيارها من الاعدادات ثم تقوم بتعديل فارق السعر الى 1000 او مضاعفاته كون سعر البيتكوين بالالاف وان كانت عمله اخرى نفترض ان سعرها ل يتجاوز 100 دولار نعدل فارق السعر الى 10 او مضاعفاته وهكذا نقوم بتعديل فارق السعر من عملة الى اخرى ففي العملات الصفرية سيكون فارق السعر 0.0001 او حسب الرقم القريب لسعر العملة هذا فقط كمثال .
- يمكنك اظهار خط افقي عند اغلاق كل دورة صغرى اي كل 12 سمعة .
- يمكنك اظهار خط الاستراتيجي عند شمعة 42 من بداية الدورة وخط الاستراتيجي يسترشد من خلاله اذا لم يتم الاغلاق اسفله اذا كان الاتجاه صاعد بعد 7 دورات صغرى ان الاتجاه سيستمر او اعلاه اذا كان الاتجاه هابط وفي الاتجاه الهابط هنالك قواعد مختلفة قليلاً لا يتسع المجال لشرحها.
- يمكنك كذلك اظهار خطوط على شمعات الاهتزاز التي تكون من بداية الدورة مضاعفات الرقم 3 اي 3,9,12,15 وهكذ .
- عندما يكون الاتجاه صاعد يجب ان يكون سعر النهاية اعلى من سعر البداية ليتم رسم الاتتجاه للبوابات بشكل صحيح وعندما يكون الاتجاه هابط يجب ان يكون سعر النهاية ادنى من سعر البداية .
- يمكنك الان حساب البوابات الرقمية باكثر من طريقة ويمكنك تعديل البوابات الرقمية (اذا كان لديك طريقة معينة لحسابها) او مضاعفتها او تقسيمها .
** من اهم الاضافات هو امكانية تحويل الدورات الزمنية الصغرة الى شموع حتى تتخيل الاتجاه القادم لحركة الدورة الصغرى .
[XSO-Premium-X1]The indicator is a comprehensive, premium trading indicator designed to optimize your trading strategy through advanced price action analysis. By examining raw price data and market structure, it identifies key areas where price movements are likely to occur. This indicator serves as an essential trading companion, significantly reducing the time required for analysing price action and enabling you to place trades manually or via automated alerts.
Summary:
The indicator is a sophisticated tool crafted for analysing and predicting market trends using a variety of technical analysis techniques. It integrates multiple calculations, filters, and conditions to pinpoint optimal buy and sell signals, thereby assisting you in making well-informed decisions. The indicator emphasizes trend detection, sideways market identification, and signal generation, all while providing visual cues and alerts for trading actions.
The indicator leverages price action calculations to evaluate the market's bullish or bearish tendencies, ensuring that signals are only triggered when price action is strong enough.
This indicator performs extensive calculations, consolidating our top tools into a master signal generator that includes new, extensively tested methods previously unavailable to the public. Signals are confirmed when multiple factors, including price action, align. The indicator swiftly reacts to market changes, providing early signals at the first signs of a reversal.
HOW TO USE THE INDICATOR
Buy Signal
An orange “Buy Signal” will be plotted on the chart to indicate when the most opportunistic time is to place a trade. The indicator includes alert functionality so that you can be notified using the standard Trading View alert management options.
You will see indicated by the blue arrows on the above graph the entry or ‘buy’ signals. The signal is represented by an orange box and clearly states ‘Buy Signal’ inside it. You are also provided with the close price of the bar for which the entry/buy value should be.
Sell Signal
The sell signal will look at the market and detect changes within the trend. There are multiple tools that are used to determine the best time to exit/sell the trade. Our advanced algorithm continually monitors the current action and will determine the most desirable time to display a sell signal box which is blue in colour. This signal will be shown directly on the chart.
Indicated in blue arrows you will see the sell signals. Each signal has four values:
Type of Signal
The current close price of the current bar
The percentage change from the original corresponding buy signal
The previous buy signal’s close price
The indicator will look at many factors when determining if you should exit a trade. Look at the image below and you can see a typical buy and sell signal combination:
The bottom blue arrow indicates your entry or “buy” trade and the top blue arrow indicates your exit or “sell” trade. As you can see you would have entered/bought at 185.76 and exited/sold at 186.895 with a 0.61% margin.
Here is another example:
Hold Asset / Stop Loss
If the market moves to the downside after you have entered a trade then the indicator will track this. Our analysis may determine that the market may continue to fall or that simply the conditions are no longer favourable. Under these circumstances the indicator will flag for you to Hold Asset / Stop Loss. You can then make a decision if you want to hold onto your asset or sell it at a loss.
If you look on the chart below you can see an example of these signals plotted on the chart indicated by the blue arrow.
Alert Management
There are 3 alerts that are fixed. They are:
Buy Signal
Sell Signal
Hold Asset / Stop Loss
You can select which alert you would like to trigger from the standard trading view alert management page. For all buying you would select “Buy Signal” for all selling/take profit you would select “Sell Signal” and for holding the asset (maybe to set a limit order) or to sell the asset at a loss (stop loss), you would choose “Hold Asset / Stop Loss”.
Best Utilization of Our Indicator with Lower Time Frames
Our indicator is specifically designed to excel in short-term trading environments, making it the perfect tool for scalping strategies. For optimal performance, it is best utilized with time frames under 5 minutes . Here’s why our indicator is tailored for lower time frames and not suitable for long-term signalling:
1. Scalping Focus:
o Scalping involves making numerous trades throughout the trading session to capture small price movements. Our indicator is engineered to identify these quick, short-term opportunities, making it ideal for time frames of 3 minutes and under.
2. Rapid Signal Generation:
o Lower time frames generate more data points in a shorter period, allowing our indicator to provide rapid buy and sell signals. This frequency is crucial for scalpers who need to react quickly to market changes.
3. Minimized Market Noise:
o While lower time frames can be more volatile, our indicator includes filters to minimize market noise and focus on significant trading signals. This feature ensures that you receive reliable signals even in fast-paced trading environments.
Suitable Markets
This indicator is versatile and suitable for all markets, offering comprehensive analysis and reliable signals for various trading environments. Its advanced features and customizable settings ensure optimal performance across different market conditions, making it an essential tool for traders in any market.
Strategies
This indicator is ideal for both scalping whilst taking long positions, providing precise, timely signals for short-term trades while also identifying strong trends. Its versatility and advanced features make it a valuable tool for traders with diverse strategies.
What makes our indicator different?
Our indicator incorporates predefined parameters tailored to identify opportunities within a long strategy, rendering this indicator particularly advantageous for traders focused on long positions. Upon identifying a buy position, the indicator issues a buy signal and subsequently initiates asset tracking. A sell signal is generated only when the indicator identifies substantial uncertainty regarding the continuation of the upward trend. Its simple to use.
Swing Highs and Lows predictorHighs and Lows Predictor
Description:
The "Swing Highs and Lows Predictor" is a comprehensive Pine Script indicator designed to help traders identify potential swing highs and lows in the market. This indicator combines moving averages, RSI, Fibonacci retracement levels, and volume analysis to provide a holistic view of market trends and reversals.
Features:
Moving Averages (SMA and EMA): These are used to determine the overall trend direction. The Simple Moving Average (SMA) smooths out price data to identify the direction of the trend over a specified period. The Exponential Moving Average (EMA) reacts more quickly to recent price changes, providing a more sensitive trend indicator.
Relative Strength Index (RSI): This oscillator measures the speed and change of price movements. Values above 70 indicate overbought conditions, while values below 30 indicate oversold conditions. This helps in identifying potential reversal points.
Fibonacci Retracement Levels: These levels are calculated based on the recent significant high and low. They help in identifying potential support and resistance levels where the price might reverse.
Volume Spike Detection: Volume spikes often precede significant price movements. This feature highlights unusual volume activity, indicating potential trend changes.
Swing Highs and Lows: The script identifies and marks significant swing highs and lows based on historical price action. This is useful for traders to spot potential entry and exit points.
How It Works:
Trend Analysis with Moving Averages: The script plots both SMA and EMA on the chart to help identify the current trend. When the EMA is above the SMA, it indicates an uptrend, and vice versa for a downtrend.
Momentum Analysis with RSI: The RSI is plotted to identify overbought and oversold conditions. Traders can look for entries when the RSI exits these zones.
Support and Resistance with Fibonacci Retracements: Fibonacci levels are drawn based on the highest high and lowest low over the specified period. These levels indicate potential areas of support and resistance.
Volume Analysis: The script highlights bars with significant volume spikes, providing additional confirmation for potential reversals.
Identifying Swings: The script uses a combination of high and low price points over a defined period to mark swing highs and lows, helping traders spot potential turning points.
How to Use:
Entry Points: Look for swing low markers combined with oversold RSI levels and support from Fibonacci retracement levels for potential buy entries.
Exit Points: Look for swing high markers combined with overbought RSI levels and resistance from Fibonacci retracement levels for potential sell entries.
Volume Confirmation: Use volume spikes as an additional confirmation for the strength of the identified swings.
Trend Confirmation: Use SMA and EMA to confirm the overall trend direction before making trade decisions.
This script aims to provide a comprehensive tool for traders to analyze market trends, momentum, support, and resistance levels, enhancing their decision-making process. By combining multiple indicators into a single script, it offers a streamlined approach to technical analysis.
Example Usage:
Long Trade Setup: Enter a long position when a swing low is identified, RSI exits the oversold zone, and the price finds support at a Fibonacci retracement level, with a volume spike confirming the move.
Short Trade Setup: Enter a short position when a swing high is identified, RSI exits the overbought zone, and the price faces resistance at a Fibonacci retracement level, with a volume spike confirming the move.
Dinapoli Objective Points (OPs)The DiNapoli Objective Points (OPs) is a drawing tool that computes potential exit targets to a market. It does so by drawing Fibonacci ABC Extensions which form Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
Let’s dive into what this tool does.
HOW TO READ THE DINAPOLI OPs
First, let’s review the basic concepts. In the chart below you’ll see a market Up Swing and a Down Swing. Both charts show a significant Retracement within the scope of a larger Swing, and therefore are suitable for this tool.
A Point : That’s the base Reaction Point. In up swings, it’s usually a significant pivot low, while in down swings it’s a pivot high.
B Point : That’s the Focus Point that will define the extent of the extensions. In up swings, it’s usually a significant pivot high, while in down swings it’s a pivot low.
C Point : That’s the Retracement Point from where the extensions will be drawn. The C Point is contained within the A-B Price Range, and often coincides with a Fibonacci Node.
On adding the tool to the chart, it will pop up a message asking the user to click for the 3 Points: A, B and C. Then, the tool will compute the Objective Points. Let’s review them:
COP : It’s the 61.8% Fibonacci Extension. It’s called COP as an acronym for Contracted Objective Point. It’s commonly used as an early Take Profit level or also as a point at which to enable a Trailing Stop Loss.
OP : It’s the 100% Fibonacci Extension. It’s called OP as an acronym for the main Objective Point. It’s usually used as a level where to Take Profit.
XOP : It’s the 161.8% Fibonacci Extension. It’s called XOP as an acronym for Extended Objective Point. It’s usually employed as a Take Profit target in which to close the position or significantly reduce the position weight.
By combining Objective Points with Dinapoli Levels, one can define Areas of Interest that might act as reinforced Support or Resistance levels. The Agreement Area happens where there’s a convergence between a Fibonacci Node and an Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Combine Objective Points with D-Levels!
This tool allows you to quickly compute the Objective Points and display them in a minimalistic non-intrusive fashion.
The fact that the Objective Points get drawn on the right hand side of the chart combines perfectly with the Dinapoli Levels tools.
Keep your Chart Clean!
Disciplined traders keep their charts clean and visually appealing. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Objective Points to print the Extensions, whilst on the right it uses the standard Fibonacci Extension tool.
The DiNapoli Objective Points use a view concentrated into the empty right side of the chart, which contributes to a more comprehensive display of information. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Extension Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
ABC Points : This section contains the ABC price points selected and its label visualization controls.
A-Point, B-Point and C-Point : These fields contain the prices that were selected when clicking on the chart. One can change their value by hand, and the indicator will do its best to accommodate the drawing.
Highlight ABC Points : This conditions whether the A-B-C labels should display on screen.
Back Color : Select the color that will be used to highlight the A-B-C labels.
Text Color : Select the color that will be used to print the characters in the A-B-C labels.
Levels : This section allows you to customize the look of the Dinapoli Objective Points.
Enable/Disable Level : Each Level (COP, OP and XOP) can be enabled or disabled.
Level Color : Select the line color for that specific level. Please beware that the default color is 100% transparent. You might need to change the transparency setting in the color picker for the color you’ve selected to appear.
Id : Shows the label identifying the Objective Point.
Price : Shows the price value of the Objective Point.
Offset : Determines how far to the right will the group of DiNapoli Objective Points be located.
Width : Sets the width of the horizontal lines that represent the Objective Points.
Thickness : Sets the line thickness of the lines.
Median Analyst ConsensusThe Median Analyst Consensus Indicator provides an unbiased, easy-to-interpret view of market sentiment by leveraging TradingView's comprehensive financial data library. This tool displays the median 12-month price target and the percentage difference from the current price directly on your charts.
Key Features
1. Accurate Market Sentiment: By consolidating analyst ratings and price targets from multiple reputable sources like Bloomberg, Refinitiv (formerly Thomson Reuters), S&P Capital IQ, and Morningstar, this indicator displays the median analyst consensus. Using the median ensures outlier ratings don't skew the overall sentiment, providing a more robust representation.
2. Simplicity at a Glance: View the median 12-month price target and percentage difference from the current price directly on your chart. No need to juggle multiple reports - key insights are surfaced within your normal trading workflow.
3. Data-Driven Transparency: If no analyst data is available for a particular asset, the indicator will not display, ensuring you only see reliable information. The number of contributing analysts is also shown for context.
Why the Median?
The median is favored over the mean to minimize the impact of outlier ratings that could distort the consensus view. By taking the middle value across all analyst projections, the median provides a more stable, outlier-resistant measure of market sentiment.
Powered by TradingView Data
This indicator taps into TradingView's financial data library, which aggregates analyst ratings, estimates, and recommendations from leading institutional data providers. TradingView sources this data from firms like FactSet, Bloomberg, Refinitiv, S&P Capital IQ, and Morningstar, ensuring a comprehensive and trusted view of analyst sentiment.
The library provides variables like:
syminfo.recommendations_buy
syminfo.recommendations_sell
syminfo.target_price_median
syminfo.recommendations_buy_strong
syminfo.recommendations_sell_strong
The indicator calculates and displays the median of these analyst inputs.
Usage
The indicator displays:
The median 12-month price target across analysts
The percentage difference between the price target and current price
The number of contributing analyst estimates
If no analyst data is available, the indicator does not display, ensuring full transparency.
The Median Analyst Consensus Indicator provides an unbiased, easy-to-interpret view of market sentiment by leveraging TradingView's comprehensive financial data library. This tool offers a new perspective on potential trade opportunities directly on your charts.
Disclaimer
While the data is sourced from reputable providers, analyst forecasts should not be construed as investment recommendations. This indicator aims to synthesize market opinions, but investment decisions are solely your responsibility. As with any analytical tool, you should conduct your own research and risk assessments before executing any trades.
ΔYoY(Economics)Year over year indicator which will benchmark the most recent data vs 1 year lookback; Will automate the lookback for quarterly and monthly data based on timeframe selected (3M for quarterly, 1M for monthly). Tradingview will aggregate weekly data into a monthly data point. SMA applied to get the average over some x period.
Ln(close)Natural log indicator for normalizing data. SMA applied so you can take the average of that normalization factor. Personally use it for US economic data where the value is very large (GDI, Fed Balance Sheet, USM2 etc.) and the year over year delta is not pertinent (USM2) or not available (GDI.. although I did make an indicator to get YoY :D). Any additional ideas leave a comment and I'll take a look.
Nasan Moving Average with ForecastThe "Nasan Moving Average with Forecast" indicator is a technical analysis forecasting tool that combines the principles of historical data analysis and random walk theory. It calculates a customized moving average (Nasan Moving Average) by integrating price data and statistical measures and projects future price points by generating forecast values within calculated volatility bounds, creating a dynamic and insightful visualization of potential market movements. This indicator to blend past market behavior with probabilistic future trends to enhance forecasting.
Input Parameters:
len: Differencing length (default 21, Use a minimum of 5 and for lower time frames less than 15 min use values between 300 -3000)
len1: Correction Factor Length 1 (default 21, this determines the length of the MA you want , eg. 10 MA, 50 MA, 100 MA, )
len2: Correction Factor Length 2 (default 9, this works best if it is ~ </=1/2 of len1 )
len3: Smoothing Length (default 5, I would not change this and only use if I want to introduce lag where you want to use it for cross over strategies).
forecast_points: Number of points to forecast (default 30).
m: Multiplier for standard deviation (default 2.5).
bl: Block length for calculating max/min values (default 100).
use_calculated_max_min: Boolean to decide whether to use calculated max/min values.
Nasan Moving Average Calculation:
Calculates the simple moving average (mean) and standard deviation (sd) of the typical price (hlc3).
Computes intermediate variables (a, b, c, etc.) based on log transformation and cumulative sum.
Applies weighted moving averages (wma) to these intermediate variables to smooth them and derive the final value c6.
Plots c6 as the Nasan Moving Average if the bar is confirmed. To learn more see Nasan Moving Average.
Forecast Points Calculation:
Calculates maximum (max_val) and minimum (min_val) values for the forecast, either using a fixed value or based on standard deviation and a multiplier.
Initializes an array to store forecast values and creates polyline objects for plotting.
If the current bar is one of the last three bars and confirmed:
Clears and reinitializes the polyline.
Initializes the first forecast value from the cumulative sum c.
Generates subsequent forecast values using a random value within the range .
Updates the forecast array and plots the forecast points as an orange curved polyline.
Plotting Max/Min Values:
Plots max_val and min_val as green and red lines, respectively, to indicate the bounds of the forecast range.
Components of the Forecasting Model
Historical Dependence:
Nasan Moving Average Calculation: The script calculates a custom moving average (c6) that incorporates historical price data (hlc3), standard deviations (sd), and weighted moving averages (wma). This part of the code processes historical data to create a smoothed representation of the price trend.
Max/Min Value Calculation: The maximum (max_val) and minimum (min_val) values for the forecast can be calculated based on the historical standard deviation of a transformed variable b over a block length (bl). This introduces historical volatility into the bounds for the forecast.
Random Walk Model:
Random Value Generation: Within the forecast points calculation, a random value (random_val) is generated for each forecast point within the range . This random value introduces stochasticity into the model, characteristic of a random walk process.
Cumulative Sum for Forecasting: The script uses a cumulative sum (prev_f + random_val) to generate the next forecast point (next_f). This is a typical approach in random walk models where each new point is based on the previous point plus some random noise.
Explanation of the Forecast Model
Random Walk Characteristics: Each new forecast point is generated by adding a random value to the previous point, making the model a random walk with drift, where the drift is influenced by historical correction factors (c1, c4).
Historical and Statistical Dependence: The bounds of the random values and the initial conditions are derived from historical data, ensuring that the forecast respects historical volatility and trends.
The forecasting model in the script is a hybrid approach: It uses a random walk to generate future points, characterized by adding random values to the previous forecasted value.
The historical and statistical dependence is incorporated through initial conditions, scaling factors, and bounds derived from historical price data and its statistical properties.
This combination ensures that the forecasts are not purely stochastic but are grounded in historical price behavior, making the model more robust and potentially more accurate in reflecting market conditions.
Introducing the Markov Chain Model IndicatorThis powerful tool leverages Markov chain theory to help traders predict stock price movements by analyzing historical price data and calculating transition probabilities between different states: "Up by >1%", "Stable", and "Down by <1%". This post will provide a comprehensive overview of the indicator, its advantages and disadvantages, and how it can be used effectively in trading decisions.
How It Works
The Markov Chain Model indicator calculates the daily percentage changes in stock prices and categorizes them into three states:
Up by >1%
Stable (between -1% and +1%)
Down by <1%
By analyzing these transitions, the script constructs a transition matrix that shows the probability of moving from one state to another. This matrix is then displayed on the chart, providing traders with valuable insights into potential future price movements.
Advantages of the Markov Chain Model Indicator
Data-Driven Predictions : Utilizes historical price data to calculate probabilities, offering a statistical foundation for predictions.
Visual Representation : Displays the transition matrix directly on the chart, making it easy to interpret and use in trading decisions.
Adaptability : Allows users to customize the percentage threshold, enabling fine-tuning based on different market conditions.
Comprehensive Analysis : Considers multiple states (up, stable, down), providing a more nuanced view of price movements.
Disadvantages of the Markov Chain Model Indicator
Historical Dependence : The model relies on historical data, which may not always accurately predict future movements, especially in volatile markets.
Simplified States : The use of only three states might oversimplify complex market behaviors, potentially missing out on subtler trends.
Limited Scope : Designed for short-term predictions and may not be as effective for long-term investment strategies.
Example Interpretation
Transition Matrix:
From/To | Up >1% | Stable | Down <1% |
---------------------------------------
Up >1% | 0.30 | 0.40 | 0.30 |
Stable | 0.33 | 0.44 | 0.23 |
Down <1% | 0.34 | 0.36 | 0.30 |
Latest 3 States: S2 -> S1 -> S1
Total Bars: 2523
Decision Making Based on the Transition Matrix:
Current State: Up >1%
Next State Probabilities : 30% Up >1%, 40% Stable, 30% Down <1%
Decision : Given the balanced probabilities, a trader might decide to hold the position but set a trailing stop-loss to protect against sudden downturns. If other technical indicators also suggest continued upward momentum, they might increase their position cautiously.
Current State : Stable
Next State Probabilities : 33% Up >1%, 44% Stable, 23% Down <1%
Decision : With a high probability of stability, a cautious approach might be to hold or make small incremental trades, keeping an eye on other market indicators for confirmation.
Conclusion
The Markov Chain Model indicator is a powerful tool for traders looking to leverage statistical models to predict stock price movements. By understanding the transition probabilities between different states, traders can make more informed decisions and better manage their risk. We hope this tool helps enhance your trading strategy and provides you with a deeper understanding of market behaviors.
Try It Out
Copy the script above into TradingView and start exploring the potential of the Markov Chain Model indicator. Happy trading!
Feel free to share your feedback and let us know how this indicator works for you. Your insights can help us improve and develop even more effective trading tools.
