ConditionZeroThis study is a proof of concept analysis of situations that can lead to divide with zero or divide by zero conditions. Such situations can lead to mathematical errors, and can increase the potential for false alerts.
One common formula that is prone to this situation is:
pct=(high-close)/(high-low)
This is used to calculate percentage change of a candlestick.
Common outcomes are 0/0, 0/x, x/0, where x is a non zero value.
Visualizing this situation allows for more robust script development and deployment.
There are no user configurations.
Priceaction
Long Tail Candle by Oliver VelezThis script detects an event created by Oliver Velez, it is a wide-range candle with a small body and a long tail (hammer-type candle), its range is noticeably larger than previous candles, as a rule it can be taken that the body should be maximum of 30% of the total range of the candle with a long tail. The stop goes under the tail and the signal is given when the next candle followed by the long tail candle exceeds its body, do not program this condition so that the alert indicates that a long tail candle was generated and the trader has some Time to visualize the graph and wait for the signal.
The default configuration is very basic, each trader must adjust to their needs.
- Trend filters can be activated.
- Alerts available.
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Adaptive RSI by PuzzleAdaptive RSI
RSI with a twist. The values are calculated differently depending upon whether the RSI is above or below the centre point. I have found this gives:
More pronounced divergences which are easier to spot and more accurate at predicting local top and bottoms
More accurate indications of overbought/oversold conditions.
Candle Information Panel//This indicator shows Day's candle measurements with past averages. First column shows the candle details for the present day.
//"Open - Low", "High - Open", "Range(=High-low)", "Body(open-close)"
//Averages are calculated for occurences of Green and Red days. Up Averages are for Green days and Down Averages are for Red days.
//Average are not perfect calculations since occurences(of Red or Green) will vary within the timespan used for averages.
//This can used to guage general sense of probability of the price movement.
//e.g. if the Open to Low for a day exceeds UpAv value, then there is higher likelihood of day being Red.
//similarly, trade can be held in expectation of price reaching the DnAv and stop loss can be trailed accordingly.
//Not a perfect system. But something to work on further to increase price action understanding.
//Be careful on days where consecutive 3rd Highest High or Lowest Low day is made and also on the next day after such day. Prices may turn direction at least for a short while.
Complete Credit goes to @pinecoders who gave me the main script on tradingview chat room.
TimeFrame Slicer - JDThis script "slices up' the price action in hourly, daily, weekly,... slices
to give a view of the sentiment and price action or volume during the selected period.
Different time periods can be selected.
There is a choice to display the information in:
- normal candlesticks
- heikin ashi candles
- volume candles
JD.
#NotTradingAdvice #DYOR
Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
Climatic Volume X- Climate volume detection
- Relative volume value in bar
- Automatic zone generation (possibility of configuration)
- Additional features
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Red and Green Ignored Bar by Oliver VelezOn this occasion I present a script that detects Ignored Red Candles and Ignored Green Candles, basically it is a Price Action event that indicates a possible continuation of the current trend and gives the opportunity to climb it with a Very tight risk, before delving into detail I would like to leave this note:
Note: the detection of this event does not guarantee that the signal will be good, the trader must have the ability to determine its quality based on aspects such as trend, maturity, support / resistance levels, expansion / contraction of the market, risk / benefit, etc, if you do not have knowledge about this you should not use this indicator since using it without a robust trading plan and experience could cause you to partially or totally lose your money, if this is your case you should train before If you try to extract money from the market, this script was created to be another tool in your trading plan in order to configure the rules at your discretion, execute them consistently and have AUTOMATIC ALERTS when the event occurs, which is where I find more value because you can have many instruments waiting for the event to be generated, in the time frame you want and without having to observe the mer When the alert is generated, the Trader should evaluate the quality of the alert and define whether or not to execute it (higher timeframes, they can give you more time to execute the operation correctly).
Let's continue….
This event was created by Oliver Velez recognized trader / mentor of price action, the event has a very interesting particularity since it allows to take a position with a very limited risk in trend movements, this achieves favorable operations of good ratio and small losses when taking An adjusted risk, if the trade works, a good ratio is quickly achieved and we agree with a key point in the “Keep small losses and big profits” trading, this makes it easier to have a positive mathematical hope when your level of Success is not very high, so leave you in the field of profitability.
THE EVENT:
The event has a bullish configuration (Ignored Red Candle) and a bearish configuration (Ignored Green Candle), below I detail the “Hard” rules (later I explain why “Hard”):
1- Last 3 bars have to be GREEN-RED-GREEN (possible bullish configuration) or RED-GREEN-RED (possible bearish configuration), the first bar is called Control Bar, the second is called Ignored Bar and the third Signal Bar as shown in the following image:
2- Be in a trend determined by simple moving averages (Slow of 20 periods and Fast of 8 periods), as a general rule you can take the direction of MA20 but the Trader has to determine if there is a trend movement or not.
3- Control bar of good range, little tail and with a body greater than 55%.
4- Ignored bar preferably narrow range, little tail and that is located in the upper 1/3 of the control bar.
5- Signal bar cannot override the minimum of the ignored bar.
6- Activation / Confirmation of event by means of signal bar in overcoming the body of the ignored bar.
Some examples of ignored bars (with “Hard” and “Flexible” rules):
Features and configuration of the indicator:
To access the indicator settings, press the wheel next to the indicator name VVI_VRI "Configuration options".
- Operation mode (Filtering Type):
• Filtering Complete: all filters activated according to the configuration below.
• Without Filtering: all filters deactivated, all VRI / VVI are displayed without any selection criteria.
• Trend Filter only: shows only VRI / VVI that are in accordance with what is set in “Trend Settings”
- Configuration Moving Averages:
• See Slow Media: slow moving average display with direction detection and color change.
• See Fast Media: display of fast moving average with direction detection and color change.
• Type: possibility to choose the type of media: DEMA, EMA, HullMA, SMA, SSMA, SSMA, TEMA, TMA, VWMA, WMA, ZEMA)
• Period: number of previous bars.
• Source: possibility to choose the type of source, open, close, high, low, hl2 hlc3, ohlc4.
• Reaction: this configuration affects the color change before a change of direction, 1 being an immediate reaction and higher values, a more delayed reaction obtaining les false "changes of direction", a value of 3 filters the direction quite well.
- Trend Configuration
• Uptrend Condition P / VRI: possibility to select any of these conditions:
o Bullish MA direction
o Quick bullish MA direction
o Slow and fast bullish MA direction
o Price higher than slow MA
o Price higher than fast MA
o Price higher than slow and fast MA
o Price higher than slow MA and bullish direction
o Price higher than fast MA and bullish direction
o Price higher than slow, fast MA and bullish direction
o No condition
• Condition P / VVI bear trend: possibility of selecting any of these conditions:
o Slow bearish MA direction
o Fast bearish MA direction
o Slow and fast bearish MA direction
o Price less than slow MA
o Price less than fast MA
o Price less than slow and fast MA
o Price lower than slow MA and bearish direction
o Price less than fast MA and bearish direction
o Price less than slow, fast MA and bearish direction
o No condition
- Control bar configuration
• Minimum body percentage%: possibility to select what body percentage the bar must have.
• Paint control bar: when selected, paint the control bar.
• See control bar label: when selected, a label with the legend BC is plotted.
- Configuration bar ignored
• Above X% of the control bar: possibility to select above what percentage of the control bar the ignored bar must be located.
• Paint ignored bar: when selected, paint the ignored bar.
- Signal bar configuration
• You cannot override the minimum of the ignored bar: when selected, the condition is added that the signal bar cannot override the minimum of the ignored bar.
• Paint signal bar: when selected, paint the signal bar.
• See arrow: when selected it shows the direction arrow of the possible movement.
• See bear and arrow: when selected it shows bear and arrow label
• See bull and arrow: when selected it shows bull and arrow label
The following image shows the ignored bar and painted signal:
- Take profit / loss
The profit / loss taking varies depending on the trader and its risk / monetary plan, the proposal is a recommendation based on the nature of the event that is to have a small risk unit (stop below the minimum of the ignored bar), look for objectives in ratios greater than 2: 1 and eliminate the risk in 1: 1 by taking the stop to BE, all parameters are configurable and are the following:
• See recommended stop loss and take profit: trace the levels of Stop, BE, TP1 and TP2, as well as their prices to know them quickly based on the assumed risk
• To: select which event you want to draw the SL and TP (VRI, VVI)
• Extend stop loss line x bars: allows extending the stop line by x number of bars
• Extend take profit line x bars: allows extending the stop line by x number of bars
• Ratio to move to break even: allows you to select the minimum ratio to move stop to break even (default 1: 1)
• Take profit 1 ratio: allows you to select the ratio for take profit 1 (default 2: 1)
• Take profit 2 ratio: allows you to select the ratio for take profit 2 (default 4: 1)
- Alerts
• It is possible to configure the following alerts:
-VRI DETECTED
-VVI DETECTED
-VRI / VVI DETECTED
Final Notes:
- The term hard rules refers to the fact that an event is sought with the rules detailed above to obtain a high quality event but this brings 2 situations to consider, less
number of events and events that are generated in a strong impulse may be leaked, a very large control bar followed by an ignored narrow body away from moving averages, despite having a good chance of continuing, taking a stop very tight in a strong impulse you can touch it by the simple fact of the own volatility at that time.
- The setting of the parameters “Minimum body percentage% (control bar)”, “Above x% of the control bar (bar ignored)” and “Cannot override the minimum of the ignored bar” can bring large Benefits in terms of number of events and that can also be of high quality, feel free to find the best configuration for your instrument to operate.
- It is recommended to look for trending events, near moving averages and at an early stage of it.
- The display of several nearby VRIs or VVIs in an advanced trend may indicate a depletion of it.
- The alerts can be worked in 2 ways: at the closing of the candle (confirms event but the risk unit may be larger or smaller) or immediately the body of the ignored bar is exceeded, in case you are operating from the mobile and miss many events because of the short time I recommend that you operate in a superior time frame to have more time.
- The indicator is configured with “flexible” rules to have more events, but without any important criteria, each trader has to look for the best configuration that suits his instrument.
- It is recommended to partially close the operation based on the ratio and always keep a part of the position to apply manual trailing stop and try to maximize profits.
The code is open feel free to use and modify it, a mention in credits is appreciated.
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Greetings to all, I wish you much green!
Elephant Bar by Oliver VelezThis script detects an event created by Oliver Velez, basically it is a wide-range candle, its range is noticeably larger than the previous candles, this event indicates a possible continuation of the movement, or the beginning of an extended movement. The candle has to be of good body, as a rule it can be taken that the body must be more than 70%. The stop goes below the minimum of the candle and the signal is given when the next candle followed by the elephant candle exceeds its body, this condition is not programmed so that the alert indicates that an elephant candle was generated and the trader has some time to visualize the graph and wait for the signal. Example below:
NOTE: IT IS VERY IMPORTANT THAT THE TRADER ANALYZE THE CONTEXT OF THE MARKET WHERE THE ELEPHANT BAR IS GENERATED AND DETERMINE ACCORDING TO ITS EXPERIENCE IF THE EVENT HAS A GOOD PROBABILITY OF PROJECTION, YOU MUST NOT TAKE AN ENTRY ONLY BY THIS EVENT, IF YOU DO YOU WILL LOSE ALL YOUR MONEY
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One of the problems of the elephant bar is that it generates a fairly wide risk unit with respect to other narrow range events, so the risk / benefit ratio is not very large, but it is an event that deserves attention when it occurs in a good location since it generally generates continuation.
If you want to have a lower risk unit and improve the risk / benefit ratio, you can play the “Gift Zone”, when detecting an elephant bar you can wait for a step back inside the elephant bar area and take a position, this will give you a less distance to the stop, but this can lead to the event escaping if there is no recoil.
- The size of the candle is determined by comparing a range of previous candles (you can set the amount at your discretion)
- Search factor: by default 1.3, this means that all bars that have a range greater than the average range of previous candles + 30%, are considered elephant candles (can be configured at your discretion)
- Possibility to configure the percentage of the body that the elephant candle must have.
- Possibility of filtering up to 2 means with direction detection and color change (fully configurable)
- Possibility of filtering by mobile averages
- Alerts
- Additional features
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Mean Reversion Strategy by KrisWatersThis is a type of mean reversion strategy. It only generates long signals when the price is far away from the mean. It tries buy from the dip. Use it with BTC/USDT pair on 4 hour timeframe.
Bull Bear 180 by Oliver VelezThis script detects an event created by Oliver Velez is called Bull / Bear 180, in the following images the event is detailed:
- The size of the control bar can be set compared to a number of previous bars
- The minimum % of the control bar body can be set
- You can filter by trend
- Possibility of seeing fast and slow media with direction detection and color change
- Various graphic settings
- Event alerts
To enjoy!
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The Fantastic Four of Oliver VelezThis script graphics the "fantastic 4" area, was created by oliver velez and is used in the opening of the american stock market, determined by:
1- ma200 at the closure of the previous day
2- ma20 at the closure of the previous day
3- price of previous day closure
4- activity of the last 30/60 min prior to the closure of the previous day (search the maximum and minimum)
Basically it is a very important support / resistance area the first hour from the opening, the trap area is an area in which it should be avoided to operate if the price opens within the same. In advance of being used as a support / resistance area if the price opens above the 4f is looking for longer opportunities (many more aspects should be evaluated) and if it is below.
Configuration:
- possibility to modify the amount of minutes of the activity of the previous day.
- possibility of hidding the "trap area" label.
- possibility of hidding the "change to temporary frame of 2 min" label.
Note: the temporary framework used is the 2 min, in the event of being in another temporary framework the indicator will not work and will be alerted with a label
Kay-Rules: Candlestick PatternsThis indicator will mark 5 different candlestick patterns:
(1) bullish & bearish engulfing
(2) hammer & shooting star doji
(3) dragonfly & gravestone doji
(4) morning & evening star doji
(5) bottom & top tweezer
You may follow candlestick trading strategy by Rayner Teo here
Keltner ZonesThis is an indicator that draws support and resistance zones / levels based on price action in and around Keltner Channels.
There are 3 different modes;
Draw zones based on price breaking the upper band
Draw zones based on price breaking the lower band
Draw zones if price stays within the bands for a prolonged period of time.
You can also decide if you want the indicator to paint zones or levels. The Zones can grow rather large if there is a volatility shock since they are drawn using the true range around the trigger price.
Upper Band Zones
Lower Band Zones
Congestion Zone
Wick Delta Buy/Sell PressureIf you think of a perfect doji candle, where the wicks on top and bottom are exactly the same, that's a candle with a delta of 0. What this indicator does is show the delta/difference between wicks, if the top wick is longer than the bottom wick it show's sell pressure/bear interest, which is displayed as a red bar and vice versa for buy/bull pressure, which is shown as green bars. I added arrows for clarity.
It's a different way of visualising wicks, which can clarify sentiment and be a useful way to understand wicks better in general. One way to use it is to look for clusters of 3/4 larger bars in a row, which generally helps to determine future direction especially when seen at important levels.
RSI LabelAdds a purple label to the right of price if RSI is overbought or oversold, otherwise it doesn't show anything at all, nada. Handy for people (like me) who often focus on price action and forget to watch the RSI
IO_Volatility Quality Zero LineThis is the Volatility Quality Zero Line Indicator. This indicator measures volatility strength.
Highs & LowsHigh and Lows Script.
For all the price action lovers out there.
Hope you all enjoy.
Thanks
Grimes Modified MACD Supply DemandA follower of mine asked me if I could make a version of my www.tradingview.com script using the MACD. Well it just so happens I was making a few modifications to my MACD script: just as this question came up so I went ahead and threw this together.
The MACD that triggers the SR zones is pictured below, with key trigger points encircled to illustrate how it works.
The Center..some measure of “center” or average price is useful.
- Adam H. Grimes
This line off Adams blog inspired me to cook up a very simple indicator that just takes the High and Low of the time given (input in minutes), adds them together and divides it in half. This way we get a center based on the higher timeframe. Not only does it inform you of the dominating trend, but also works as a sort of momentum indicator if you measure the distance price is from the center.
Got the daily high/low calculations off www.tradingview.com
Swing PointsThis indicator gives a clear indication of price action swing-points as well as an indication of whether it is a higher, lower, or equal swing point relative to the last high/low.
Price Action with MACD Barcolor + Insidebar + Fakey + Key level EMA 89 and Hull MA 89 used to filter trading signals and working as support and resistance.
When both of them are red, market is bearisk, only short.
When both of them are green, market is bullish, only long.
when there is 1 green and 1 red, market is neutral, can short or long.
Enjoy and happy trading!
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