Durango - Mr YenDo you short too soon ? or go long too early ?
Well Durango chart provides traders with direction !
It is best used to guide the trader's decision whether to short or long as the Keltner channels multipliers indicate extreme oversold or overbaught conditions.
The source of this indicator is the trader Brian Watt specialized in trading the S&P500, where he talks about this indicator as the GOAT (greatest of all times) on his youtube channel. So it's well suited for trading index futures, but might as well work for stocks, you have to ajust the parameters and backtest.
The channel multipliers depend on the underlying instrument to trade, you must ajust and fine tune it for every instrument. For NQ for example, 3.1, 9.1 and 18 seems to work fine.
This is the first draft, in the next updates I'll be adding seperate mulipliers for upper and lower channels, to give traders better fine tuning capability.
Trade Safe guys !
Cari skrip untuk "KELTNER"
EXAMPLES:enhanced_taThis script is created to demonstrate usage of enhanced ta library which is present here :
Following custom indicators are populated in this script:
ma (Select moving average)
atr/atrpercent (With custom moving average)
bands - Bollinger Band, Keltner Channel, Donchian Channel (All with enhanced versions and additional options)
bandwidth - Bandwidth for the bands available. Uses same input as that of bands
bandpercent - Percentage in relation to band upper and lower levels. Uses same input as that of bands.
oscillator (oscillatorRange) - Generating custom overbought oversold regions.
Display Options
Display individual indicator by selecting them through dropdown. If you select all, we also look at overlay and non-overlay parameters to show/hide only those indicators which are applicable on candle overlay or as separate window.
RSI Trend LineI took a concept similar to the "Adaptive RSI" to get the RSI overlaid on a price chart. The problem I have with the Adaptive RSI is to me it sticks too closely to price. I wanted something much more visually helpful that can provide actual tradable signals and strategies.
The orange line you are seeing is the "RSI Trend Line"
The further the RSI moves away from a value of 50 (the "zero line"), the more you see this orange line move away from price. This helps visualize the strength of price pushing away from a neutral value to a position of strength or weakness-- if orange is below price then relative strength is high; if orange is above price then relative strength is low. When price is equal to the orange RSI line, the RSI is at a value of 50.
In addition to the trend line, you can enable bands which reflect Overbought and Oversold levels . If you leave the responsiveness to a value of 1.0 and removed any smoothing, these should pretty accurately reflect an actual RSI chart topping the OB and OS lines (default 70 and 30, respectively). (They're still very close with different responsiveness and smoothing values)
The conversion or scaling of RSI value onto price comes with a bit of a quirk which I decided to leave to the user to determine how they want it applied. So the setting "Responsiveness" will impact the sort of aggressiveness of the RSI trend line as well as the the size of the bands. You could think of this in some ways as the OPPOSITE of the multiple setting on a Bollinger or Keltner band-- 1.0 will make for the widest band, 2.0 is the default and my preference, and you can move it up to a value of 5.0.
Here are some examples of how you could use the indicator for trade signals--
And here's my thought on the current state (as of 10/06) on indices with regards to this indicator-
Multi-ZigZag Multi-Oscillator Trend DetectorThis table is intended to give you snapshot of how price and oscillators are moving along with zigzag pivots.
This is done in the same lines of Zigzag-Trend-Divergence-Detector
But, here are the differences
Table shows multiple oscillator movements at a same time instead of one selected oscillator
Divergence is not calculated and also supertrend based trend. Trend can be calculated based on zigzag movements. However, lets keep this for future enhancements.
This system also uses multiple zigzags instead of just one.
⬜ Process
▶ Derive multiple zigzags - Code is taken from Multi-ZigZag
▶ Along with zigzags - also calculate different oscillators and attach it to zigzag pivot.
▶ Calculate directions of zigzag pivots and corresponding oscillators.
▶ Plot everything in the table on last bar.
⬜ Table components
Table contains following data:
Directional legends are:
⇈ - Higher High (Green)
⇊ - Lower Low (Red)
⭡- Lower High (Orange)
⭣ - Higher Low (Lime)
⬜ Input Parameters
▶ Source : Default is close. If Unchecked - uses high/low data for calculating pivots. Can also use external input such as OBV
▶ Stats : Gives option to select the depth of output (History) and also lets you chose text size and table position.
▶ Oscillators : Oscillator length is derived by multiplying multiplier to zigzag length. For example, for zigzag 5, with 4 as multiplier, all oscillators are calculated with length 20. But, same for zigzag 8 will be 32 and so on.
▶ Available oscillators :
CCI - Commodity Channel Index
CMO - Chande Momentum Oscillator
COG - Center Of Gravity
MFI - Money Flow Index (Shows only if volume is present)
MOM - Momentum oscillator
ROC - Rate Of Change
RSI - Relative Strength Index
TSI - Total Strength Index
WPR - William Percent R
BB - Bollinger Percent B
KC - Keltner Channel Percent K
DC - Donchian Channel Percent D
ADC - Adoptive Donchian Channel Percent D ( Adoptive-Donchian-Channel )
⬜ Challenges
There are 12 oscillators and each zigzag has different length. Which means, there are 48 combinations of the ocillators.
First challenge was generating these values without creating lots of static initialization. Also, note, if the functions are not called on each bar, then they will not yield correct result. This is achieved through initializer function which runs on every bar and stores the oscillator values in an array which emulates multi dimensional array oscillator X zigzag length.
Next challenge was getting these values within function when we need it. While doing so I realized that values stored in array also have historical series and calling array.get will actully get you the entire series and not just the value. This is an important takeaway for me and this can be used for further complex implementations.
Thanks to @LonesomeTheBlue and @LucF for some timely suggestions and interesting technical discussions :)
Zigzag Trend/Divergence DetectorPullbacks are always hardest part of the trade and when it happen, we struggle to make decision on whether to continue the trade and wait for recovery or cut losses. Similarly, when an instrument is trending well, it is often difficult decision to make if we want to take some profit off the table. This indicator is aimed to make these decisions easier by providing a combined opinion of sentiment based on trend and possible divergence.
⬜ Process
▶ Use any indicator to find trend bias. Here we are using simple supertrend
▶ Use any oscillator. I have added few inbuilt oscillators as option. Default used is RSI.
▶ Find divergence by using zigzag to detect pivot high/low of price and observing indicator movement difference between subsequent pivots in the same direction.
▶ Combine divregence type, divergence bias and trend bias to derive overall sentiment.
Complete details of all the possible combinations are present here along with table legend
⬜Chart Legend
C - Continuation
D - Divergence
H - Hidden Divergence
I - Indeterminate
⬜ Settings
▶ Zigzag parameters : These let you chose zigzag properties. If you check "Use confirmed pivots", then unconfirmed pivot will be ignored in the table and in the chart
▶ Oscillator parameters : Lets you select different oscillators and settings. Available oscillators involve
CCI - Commodity Channel Index
CMO - Chande Momentum Oscillator
COG - Center Of Gravity
DMI - Directional Movement Index (Only ADX is used here)
MACD - Moving average convergence divergence (Can chose either histogram or MACD line)
MFI - Money Flow Index
MOM - Momentum oscillator
ROC - Rate Of Change
RSI - Relative Strength Index
TSI - Total Strength Index
WPR - William Percent R
BB - Bollinger Percent B
KC - Keltner Channel Percent K
DC - Donchian Channel Percent D
ADC - Adoptive Donchian Channel Percent D ( Adoptive-Donchian-Channel )
▶ Trend bias : Supertrend is used for trend bias. Coloring option color candles in the direction of supertrend. More option for trend bias can be added in future.
▶ Stats : Enables you to display history in tabular format.
Overview of settings present here:
⬜ Notes
Trend detection is done only with respect to previous pivot in the same direction. Hence, if chart has too many zigzags in short period, try increasing the zigzag length or chart timeframe. Similarly, if there is a steep trend, use lower timeframe charts to dig further.
Oscillators does not always make pivots at same bar as price. Due to this some the divergence calculation may not be correct. Hence visual inspection is always recommended.
⬜ Possible future enhancements
More options for trend bias
Enhance divergence calculation. Possible options include using oscillator based zigzag as primary or using close prices based zigzag instead of high/low.
Multi level zigzag option - Can be messy to include more than one zigzag. Option can be added to chose either Level1 or Level2 zigzags.
Alerts - Alerts can only be added for confirmed pivots - otherwise it will generate too many unwanted alerts. Will think about it :)
If I get time, I will try to make a video.
Williams Vix Fix + BB & RVI (Top/Bottom) & SqueezeLegend :
- When line touches or crosses red band it is Top signal (Williams Vix Fix)
- When line touches or crosses blue band it is Bottom signal (Williams Vix Fix)
- Red dot at the top of indicator is a Top signal (Relative Volatility Index)
- Blue dot at the top of indicator is a Bottom signal (Relative Volatility Index)
- Gray dot at the bottom of indicator is a Squeeze signal
This is an attempt to make use of the main features of all 4 of these very popular Volatility tools :
- Williams Vix Fix + Bollinger Bands (as per Larry Williams idea, link )
- Relative Volatility Index (RVI)
- The crossing of Keltner Channel by the Bollinger Bands (Squeeze)
The goal is to find the best tool to find bottoms and top relative to volatility . This is a simple combination, but I find it very useful personally
(no need to reinvent the wheel, just need to find what works best)
The idea is that Williams Vix Fix + Bollinger Bands already give the main volatility bottom and top (Bottom are more accurate).
So instead of trying to modify it, I chose to compliment it by mapping with points when the Relative Volatility Index (RVI) reached the
top/bottom thresholds (red dot means top and blue dot means bottom). That way we can easily see when both indicators find a top or bottom relative
to volatility (of course this needs to be then confirmed with a momentum indicator rally).
In addition, I added the squeeze because this quickly shows the potential breakouts.
For ideas on how to continue this work, it would be very interesting to be able to create a probability of a bottom and top relative to volatility using the
Williams Vix Fix + Bollinger Bands and "Relative Volatility Index" signals as both work well and give top or bottom the other doesn't see.
Trading Rule #19This script is based on Trading Rule #19 from Chester Keltner's book How To Make Money On Commodities. It is best applied to candlestick charts with longer time frames and plans with minimal losses (i.e. swing trades). The rule is based on "Key" trend days (this is applied to daily charts in the book).
An initial Key-Up day is established on the third day of 3 consecutive new highs. Subsequent key-up days are determined as follows:
1. The first day following an initial key-up day trades 0.375% above the previous key-up day
2. The second day or any following day trades 0.125% above the previous key-up day
An initial Key-Down day is established on the third day of 3 consecutive new lows. Subsequent key-down days are determined as follows:
1. The first day following an initial key-up day trades 0.375% below the previous key-down day
2. The second day or any following day trades 0.125% below the previous key-down day
Green candles are considered up-trend, red candles are down-trend. Gray candles are undecided - when there is a new high and low in the same time frame, when there is no new high or low in that time frame, or the order price was cleared.
Order prices are represented as a blue line, with some days being "na" when order prices remain unchanged. On key-up days, orders are placed 0.375% below the low of the previous key-up day or the day previous (whichever is lower). Order prices on key-down days are placed 0.375% above the high of the previous key-down day or the day previous (whichever is higher).
The tolerance setting mainly effects the plot point of order price, at a certain point key-trend rules will take priority over order price (meaning if tolerance is high enough, order price will have no effect on determining key-trends).
Elliott Wave Oscillator + TTM SqueezeThe Elliott Wave Oscillator enables traders to track Elliott Wave counts and divergences. It allows traders to observe when an existing wave ends and when a new one begins. It works on the basis of a simple calculation: The difference between a 5-period simple moving average and a 34-period simple moving average.
Included with the EWO are the breakout bands that help identify strong impulses.
To further aid in the detection of explosive movements I've included the TTM Squeeze indicator which shows the relationship between Keltner Channels & Bollinger Bands, wich highlight situations of compression/low volatility, and expansion/high volatility. The dark dots indicate a squeeze, and white dots indicates the end of such squeeze and therefore the start of an expansion.
Enjoy!
Borg's BaselineMoving average baseline comprised of and an adjustable Keltner Channel band around the MA.
Used as directional bias indicator in systems trading.
(JS) Triple StochasticSo I ended up adding a ton of stuff to my prior Double Stochastic script which you can see here .
The concept of the Double was to smooth out the existing Stochastic by applying a Stochastic to the existing Stochastic (hence the Double). My concept for the Triple Stochastic is much different. It combines a regular stochastic, stochastic RSI, and the double stochastic to get a smoothed output based on all 3.
Also - since I love being able to see a Squeeze (see my Squeeze Pro indicators - Squeeze Pro 2 & Squeeze Pro Overlays ) I added the Squeeze to the Stochastic (the dots). If you're unfamiliar with how a Squeeze works, or what it is, check out my links for explanation. A quick explanation however is that the Squeeze is an indicator that was invented by John Carter that detects price compression before a big move out of a range. This is done by using Bollinger Bands and Keltner Channels, the BB shrink inside the KC. The color of the dots represent the depth of the BB in the KC, white (or black) being the lightest squeeze, red being the standard squeeze, and yellow being the strongest squeeze. Now on to the indicator:
The first thing you'll notice is the options available for the type of Stochastic you'd like to use:
Standard : This is a regular Stochastic
Stochastic RSI : This is the standard Stochastic RSI
Double : This is the Stochastic on top of a Stochastic from the prior version
Triple : This is simply an average of all 3 of the above combined together
(Top indicator shows the Triple Stochastic)
The options "K", "D", and "Smooth" are the settings from a regular Stochastic used to set up the type of Stochastic you choose to use.
Now let's say you're not sure how one type performs compared to another, or you like the quickest momentum change but also like to see the smoothest trend, or you want to use the same types of Stochastic and watch for them to cross like moving averages - for these reasons I added the ability to add a second Stochastic for comparison.
(2nd indicator shows a fast and slow Triple Stochastic together)
Quite obviously, the "K 2", "D 2", and "Smooth 2" are what is used in order to set the parameters for the second Stochastic.
Now another thing I added was the option to replace the regular Stochastic and instead look at the distance between the K and D. By turning off "Use K% and D%" you get to see this in action. To put it simply, a cross above zero would indicate a positive Stochastic crossover, and a cross below zero would represent the opposite. There's also an option titled "SMA Length using Difference" which, to smooth this out a bit, allows you to apply a moving average to the distance. By setting it at 1 you'd see the actual distance between K and D.
(3rd indicator shows the K and D distance used as a plot)
Another thing I wanted to do was add a different type of background that wasn't based on the indicator itself. I decided to use ADX & DMI which is a great way to determine the trend. When you select "ADX/DMI BG" the BG colors will change from being based on the indicator to being based on ADX and DMI.
(The 3rd indicator also shows the ADX/DMI BG being used).
And now finally the last feature I decided to add takes us back to the Squeeze. Essentially it is just the Stochastic shown through the lens of Squeeze momentum, as I ended up plugging the Stochastic output into the Squeeze momentum formula to create an oscillator. By selecting "Use Oscillator" you will see this in action as well.
(Bottom indicator shows the oscillator addition)
All in one [Liubam]Hey tradingviewers!
This is an All in one Indicator for those who can't add too many indicators on your charts. Inspired by ©LonesomeTheBlue "Indicators all in one" script. I found a lot of very interesting scripts on the public library and I decided to make a tool with some of the greatest IMO, adding some modifications to improve the indicators. With this tool you can plot 1 of 6 different indicators by selecting it from a drop-down list (on the indicator settings).
All the credit goes to it's respective owners (taggeds).
THIS INDICATOR INCLUDES:
1. Classic RSI with some OB/OS tools:
The relative strength index (RSI) is a popular momentum indicator displayed as an oscillator (a line graph that moves between two extremes) that measures the magnitude of recent price changes to evaluate overbought or oversold conditions, in other words it shows signals about bullish and bearish price momentum. I added some visual improvements to help you finding the OB/OS zones.
2. Classic CCI with some OB/OS tools.
The Commodity Channel Index (CCI) is a momentum-based oscillator used as market indicator to help determine market movements that may indicate buying or selling. Added some vistual improvements to the chart.
3. ADX and DMI oscillator with the keylevel coded by @console:
The Average Directional Index (ADX) is non-directional indicator used by some traders to determine the strength of a trend. When the ADX line is rising (Above the keylevel) trend strength is increasing, and the price moves in the direction of the trend whether up or down. Otherwise, low ADX (Below the keylevel) is usually a sign of accumulation or distribution (Range). Non-trending doesn't mean the price isn't moving. It may not be, but the price could also be making a trend change or is too volatile for a clear direction to be present.
Suggested settings of the keylevel is 23-25.... REMEMBER: The trend may be your friend.
4. MFI
The Money Flow Index (MFI) is a technical oscillator for identifying overbought or oversold signals in an asset. Unlike conventional oscillators such as the RSI, the Money Flow Index incorporates both price and volume data, as opposed to just price. It can also be used to spot divergences which warn of a trend change in price.
5. Stochastic:
A stochastic oscillator is range-bound, meaning it is always between 0 and 100. This makes it a useful indicator of overbought and oversold conditions. Traditionally, readings over 80 are considered in the overbought range, and readings under 20 are considered oversold. However, these are not always indicative of impending reversal; very strong trends can maintain overbought or oversold conditions for an extended period. Instead, traders should look to changes in the stochastic oscillator for clues about future trend shifts. I added some features for this popular indicator to show the stochastic crosses.
6. The famous Squeeze momentum Indicator made by @Lazybear:
This is derivate of John Carter's "TTM Squeeze" volatility indicator and its very strong when using with trending indicator such a ADX. Black line (or no-line) on the midline show that the market just entered a squeeze ( Bollinger Bands are with in Keltner Channel). This signifies low volatility , market preparing itself for an explosive move (up or down). Gray line signify "Squeeze release". Mr.Carter suggests waiting till the gray line after a blackline, and taking a position in the direction of the momentum (for ex., if momentum value is above zero, go long). Exit the position when the momentum changes.
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This script is source code protected, but you can add to your favorite list to use it. Also you can add twice to use 2 different indicators at the same time (E.g. Squeeze Momentum Indicator + ADX)
An additional indicator I made (MA Hunterz + InfoPanel) is needed to not miss good entry points.
Your valuable comment and feedback is much appreciated...
And remember indicators can be really helpfull but always use Price Action.
Peak Reversal v2This is a brand new version of my Peak Reversal indicator. As with the older version, the idea behind this indicator is simple: identify potential price reversal areas, and identifying markets which are trending. In this new version I focused on improving on the old concept, but introduced a bunch of features heavily inspired by Adam Grimes' ideas from The Art and Science of Trading. (I also blatantly stole the way he colors candles outside of the bands. Sorry.)
As you can see below this indicator gives traders a plethora of tools to judge whether a market is trending, and might be mean reverting soon.
Follow me, join my group, like the script. You know the drill.
Basic functions:
You have a triplet of Keltner (ATR-based) bands in Peak Reversal. They are defined by a multiplier and an EMA, which is referred to as "the mean". There's a tight, normal, and an extreme band. The multiplier defines how far apart your bands are. By default the indicator uses 1.125, 2.25, and 3.375. The tight band is off by default, but you can turn it on in the options. The mean is also off by default. This is more a personal preference thing for me, because I happen to use a different indicator to show a couple of moving averages.
Band crosses:
Peak Reversal can indicate whenever price crosses one of the bands. This can help traders identify points where a mean reversal play could be an option. Triangles indicate these crosses. New in version 2 is the ability to choose which of the bands to use to show these crosses. If you are more of an aggressive trader, you might find it better to show tight band crosses. If you are looking for more extreme market conditions, then choose extreme. The default is "normal".
Free bars:
Indicating free bars is also a concept from the book. A "free bar" is one which stands "freely" above the bands, which means its low price is completely outside of the bands. It can be argued that a freely standing bar is an even more extreme mean deviation, than just a band cross. Traders can gain an additional advantage studying the markets this way. Free bars are not shown by default, when on, a star shape on the candles indicates free bars. Both band crosses and free bars can be shown at the same time, but there might be overlap.
Deviations:
Also based on a concept from The Art and Science of Trading, is an indication of price "deviations". You will notice that when a candle "touches" a band (high and close above band), its colored. The idea here is to show traders when a market is in motion, but also when a mean reversal might be coming next. To accomplish this, the more colors deviate, the darker the color is. The idea here is also simple, the more price deviates off the mean, the likelier it is to return to it. This uses three different shades to show these deviations. 1-2 is one shade, 3-4 another, and upwards of 5 there's only the darkest shade. I didn't make extensive studies, which color for how many candles would be appropriate to use, but I do believe it doesn't matter that much in usage. It's clear what traders gain from using this information: more deviation, the likelier a snapback becomes.
Advanced mode:
Last but not least, I decided to add an advanced mode for advanced traders. This does nothing more than flip all colors and shapes upside down. Everything that is red, becomes green. The idea is where some traders say "buy low, sell high" (standard mode), other traders might say "buy high, sell higher" (advanced mode). See for yourself, which one you like better.
Robust Channel [tbiktag]Introducing the Robust Channel indicator.
This indicator is based on a remarkable property of robust statistics , namely, the resistance to the presence of data points that deviate significantly from the established trend (generally speaking, outliers ). Being outlier-resistant, the Robust Channel indicator “remembers” a pre-existing trend and thus exhibits a very peculiar "lag" in case of a sharp price change. This allows high-confidence identification of such price actions as a trend reversal, range break, pullback, etc.
In the case of trending and range-bound market conditions, the price remains within the channel most of the time, fluctuating around the central line.
Technical details
The central line is calculated using the repeated median slope algorithm. For each data point in a lookback window of a user-specified Length , this method calculates the median slope of the lines that connect that point to all other points inside the window. The overall median of these median slopes is then calculated and used as an estimate of the trend slope. The algorithm is very efficient as it uses an on-the-fly procedure to update the array containing the slopes (new data pushed - old data removed).
The outer line is then calculated as the central line plus the Length -period standard deviation of the price data multiplied by a user-defined Channel Width Factor . The inner line is defined analogously below the central line.
Usage
As a stand-alone indicator, the Robust Channel can be applied similarly to the Bollinger Bands and the Keltner Channel:
A close above the outer line can be interpreted as a bullish signal and a close below the inner line as a bearish signal.
Likewise, a return to the channel from below after a break may serve as a bullish signal, while a return from above may indicate bearish sentiment.
Robust Channel can be also used to confirm chart patterns such as double tops and double bottoms.
If you like this indicator, feel free to leave your feedback in the comments below!
V2_Major_Trend_FinderThis script is a major trend following script. The calculations use Keltner Channels, moving averages and RSI.
The indicator is simple to follow:
Green Candlesticks indicate more bullish momentum expected
Red Candlesticks indicate more bearish momentum expected
blue dots are possible long ideas due to RSI oversold
Orange dots are possible short ideas due to RSI overbought
olive line is a one year moving average
The script is open for those looking for deeper understanding of the script.
Many Regards
Sulaiman
Momentum Cloud HashesYellow Cloud Showing Uptrend Momentum cloud based on Upper half of Upper Bollinger Band (Std Deviation 1 to Std Deviation 2).
Include :
Upper Keltner Channel line - price need to be above this to be uptrend
EMA 5 and EMA 10
Use VWMA 10 - immediate support for an uptrend line
Black Traingle - Price Closed under VWMA 10
Red Diamond - EMA 5 closed under Std Deviation 1
Edit it as you wish.
TMO with TTM SqueezeApplication of the TTM squeeze and the short-term momentum TTM Wave A in action. This is an example where the short-term wave will react faster than the TTM to give you a signal to start building your positions.
This indicator needs to be combined with "TTM Wave A" (add to existing pane).
The TTM Squeeze works like a better MACD. There is a zeroline and histogram bars above / below represent positive and negative momo. As the height of the bar decreases when above the zeroline, that is called decreasingly positive momo and as the height of the bar decreases when below the zeroline, that is called decreasingly negative momo. The dots on the TTM Squeeze: Red dots represent consolidation where Bollingers are inside the Keltner Channels and green dots represent a move out of consolidation or "squeeze fire". As price action comes out of consolidation there is a bigger move up/down depending on where momo is heading and where prices are (key support/resistance levels, fib areas). You want to use the TTM Squeeze and A wave TOGETHER - TTM Squeeze is your main momo and your A wave is a short-term momo wave that reacts faster and works as a leading gauge. You need to use them TOGETHER to gauge where price action may be heading. When the TTM Squeeze and A wave move lockstep together, let's say both are decreasingly positive, there is a good probability it continues to move in that direction to the next support levels. TWO bars on the TTM Squeeze of different heights is confirmation that in most cases means it will move in the direction of those bars. So if decreasingly positive, you'll see two darker bars. By the time you get your 2nd bar on the TTM Squeeze, it is often too late or you're losing profit. Way to counter that is after you get one darker bar in the opposite direction of current trend, use A wave to "predict" the next wave, the more A wave histogram bars going towards the other direction, the higher the certainty it will hit. Lastly, using these waves together works best when you look at it on MULTIPLE TIME FRAMES. (Credit for this details goes to Brady from Atlas).
TTM Wave AApplication of the TTM squeeze and the short-term momentum TTM Wave A in action. This is an example where the short-term wave will react faster than the TTM to give you a signal to start building your positions.
This indicator needs to be combined with "TMO with TTM Squeeze" (add to existing pane).
The TTM Squeeze works like a better MACD. There is a zeroline and histogram bars above / below represent positive and negative momo. As the height of the bar decreases when above the zeroline, that is called decreasingly positive momo and as the height of the bar decreases when below the zeroline, that is called decreasingly negative momo. The dots on the TTM Squeeze: Red dots represent consolidation where Bollingers are inside the Keltner Channels and green dots represent a move out of consolidation or "squeeze fire". As price action comes out of consolidation there is a bigger move up/down depending on where momo is heading and where prices are (key support/resistance levels, fib areas). You want to use the TTM Squeeze and A wave TOGETHER - TTM Squeeze is your main momo and your A wave is a short-term momo wave that reacts faster and works as a leading gauge. You need to use them TOGETHER to gauge where price action may be heading. When the TTM Squeeze and A wave move lockstep together, let's say both are decreasingly positive, there is a good probability it continues to move in that direction to the next support levels. TWO bars on the TTM Squeeze of different heights is confirmation that in most cases means it will move in the direction of those bars. So if decreasingly positive, you'll see two darker bars. By the time you get your 2nd bar on the TTM Squeeze, it is often too late or you're losing profit. Way to counter that is after you get one darker bar in the opposite direction of current trend, use A wave to "predict" the next wave, the more A wave histogram bars going towards the other direction, the higher the certainty it will hit. Lastly, using these waves together works best when you look at it on MULTIPLE TIME FRAMES. (Credit for this details goes to Brady from Atlas).
SBARThis is momentum based indicator
Input
1. Two EMA
2. Stochastic
Thought process
1. Difference between fast and slow ema has a oscillating nature.
2. Stochastic %k %d crossover gives early signals
3. early entry gives low risk high reward setup
Calculation
1. A= EMA(fast) - EMA(slow)
2. B =Stochastic(%K)-Stochastic(%D)
When A is increasing and B is positive, bar is green
When A is decreasing and B is negative, bar is red
Else, bar is black
Use
This is an early entry signal system. When used with Channel trading system, it gives high probability, low risk high reward setups
Example
When price has breached below -2 Keltner channel, and impulse candle turns green, go long (or sell put options )
Trend-Range IdentifierTrend trading algorithms fail in ranging market and Swing trading algorithm fail in trending market. Purpose of this indicator is to identify if the instrument is trending or ranging so that you can apply appropriate trading algorithm for the market.
Process:
ATR is calculated based on the input parameter atrLength
Range/Channel containing upLine and downLine is calculated by adding/subtracting atrMultiplier * atr to close price.
This range/channel will remain same until the price breaks either upLine or downLine.
Once price crosses one among upLine and downLine, then new upLine/downLine is calculated based on latest close price.
If price breaks upLine, the trend is considered to be up until the next line break or no lines are broken for rangeLength bars. During this state, candles are colored in lime and upLine/downLine are colored in green.
If price breaks downLine, the trend is considered to be down until the next line break or no lines are broken for rangeLength bars. During this state, candles are colored in orange and upLine/downLine are colored in red.
If close price does not break either upLine or downLine for rangeLength bars, then the instrument is considered to be in range. During this state, candles are colored in silver and upLine/downLine are colored in purple.
In ranging duration, we display one among Keltner Channel, Bollinger Band or Donchian Band as per input parameter : rangeChannel . Other parameters used for calculation are rangeLength and stdDev
I have not fully optimized parameters. Suggestions and feedback welcome.
GMS: VWAP with Percent BandsThis is a pretty straight-forward script. I just wanted to see percent bands around the VWAP after looking at the standard deviation bands for a while and even dabbling with keltner channels. This is the cleanest in my opinion. The script is open so feel free to poke around!
The default settings are below, just to confuse 0.25 with 25%.
0.25 = 0.25%
0.5 = 0.50%
0.75 = 0.75%
PS - it's not multi-timeframe yet. That'll come in the next update.
Hope this helps,
Andre
Mean Deviation Detector - Throw Out All Other IndicatorsI set out this morning to create a script that searches out price moves that went too far too fast relative to historical pricing, given that such situations often result in the most profitable trading opportunities. I came up with the mean deviation detector. This script should be used as a means of judging how far a price is trading, in percent terms, from it's "average trading zone".
This is extremely helpful in a couple scenarios.
First, it can be used to judge a move's volatility relative to it's previous volatility. Put simply, a 5% move in the stock of Coca Cola is a lot more meaningful than a 5% move in the stock of Tesla, and the detector puts moves into historical (visual) perspective.
Second, the indicator can be used in real time as a means of determining when the chances of mean reversion are high or low. Extreme values are unsustainable and often lead to EITHER A.) price mean reversion or B.) time mean reversion. Put simply, prices either went too far and are due to fall back to a historical mean, or they need more time to digest a potentially new pricing zone.
Without getting too deep into volume profile analysis, the MDD can be a simple way of telling that a stock has moved into an "air pocket", where prices will either come back to the previous volume node (price mean reversion) or set up shop in a new, uncharted area (time mean reversion).
An extreme value doesn't always mean a trading opportunity, but it means that something interesting is happening in the stock / instrument.
I use this indicator to help me trade covered calls. Lots of high yielding weekly opportunities are stocks that have moved too far too fast, and I like to use this indicator as a means of either a.) scooping up stocks that have gotten beat up from a historical mean perspective & have likely seen the risk already "beaten" out of them, or to b.) stay away from stocks that have a very high chance of price correcting lower. In situations where I say that the risk has been "beaten" out of something, it doesn't mean that the stock won't continue to fall, it simply means that the degree and acceleration of the fall has peaked and that risk premiums in selling options will / should easily pay for continued losses. In the event that it's a price correction and not a time correction, you also increase your bat rate because you get auto-liquidated at a max profit. It's a really valuable tool in my kit.
You can also feel free to put a Keltner Chanel overlay onto the MDD to filter out noise, identify "extreme" values, and place mean reversion trades if you expect price mean reversion is likely, if you want to use this as the basis of a proper trading strategy. For a high extreme value, you could sell short term OTM call spreads, for example.
The MDD is adaptable to your own trading style & preferences.
