LNL Trend SystemLNL Trend System is an ATR based day trading system specifically designed for intra-day traders and scalpers. The System works on any chart time frame & can be applied to any market. The study consist of two components - the Trend Line and the Stop Line. Trend System is based on a special ATR calculation that is achieved by combining the previous values of the 13 EMA in relation to the ATR which creates a line of deviations that visually look similar to the basic moving average but actually produce very different results ESPECIALLY in sideways market.
Trend Line:
Trend Line is a simple line which is basically a fast gauge represented by the 13 EMA that can change the color based on the current trend structure defined by multiple averages (8,13,21,34 EMAs). Trend Line is there to simply add the confluence for the current trend. Colors of the line are pretty much self-explanatory. Whenever the line turns red it states that the current structure is bearish. Vice versa for green line. Gray line represents neutral market structure.
Stop Line:
Stop Line is an ATR deviaton line with special calculation based on the previous bar ATRs and position of the price in relation to the current and previous values of 13 EMA. As already stated, this creates an ATR deviation marker either above or below the price that trails the price up or down until they touch. Whenever the price comes into the Stop Line it means it is making an ATR expansion move up or down .This touch will usually resolve into a reaction (a bounce) which provides trade opportunities.
Trend Bars:
When turned ON, Trend Bars can provide additional confulence of the current trend alongside with the Trend Line color. Trend Bars are based on the DMI and ADX indicators. Whenever the DMI is bearish and ADX is above 20 the candles paint themselfs red. And vice versa applies for the green candles and bullish DMI. Whenever the ADX falls below the 20, candles are netural (Gray) which means there is no real trend in place at the moment.
Trend Mode:
There are total of 5 different trend modes available. Each mode is visualizing different ATR settings which provides either aggressive or more conservative approach. The more tigher the mode, the more closer the distance between the price and the Stop Line. First two modes were designed for slower markets, whereas the "Loose" and "FOMC" modes are more suitable for products with high volatility.
Trend Modes:
1. Tight
Ideal for the slowest markets. Slowest market can be any market with unusually small average true range values or just simply a market that does have a personality of a "sleeper". Tight Mode can be also used for aggresive entries in the most ridiculous trends. Sometimes price will barely pullback to the Trend Line not even the Stop Line.
2. Normal
Normal Mode is the golden mean between the modes. "Normal" provides the ideal ATR lengths for the most used markets such as S&P Futures (ES) or SPY, AAPL and plenty of other highly popular stocks. More often than not, the length of this mode is respected considering there is no breaking news or high impact market event scheduled.
3. Loose
The "Loose" mode is basically a normal mode but a little bit more loose. This mode is useful whenever the ATRs jump higher than usual or during the days of highly anticipated news events. This mode is also better suited for more active markets such as NQ futures.
4. FOMC
The FOMC mode is called FOMC for a reason. This mode provides the maximum amount of wiggle room between the price and the Stop Line. This mode was designed for the extreme volatility, breaking news events or post-FOMC trading. If the market quiets down, this mode will not get the Stop Line touch as frequently as othete modes, thus it is not very useful to run this on markets with the average volatlity. Although never properly tested, perhaps the FOMC mode can find its value in the crypto market?
5. The Net
The net mode is basically a combination of all modes into one stop line system which creates "the net" effect. The Net provides the widest Stop Line zone which can be mainly appreciated by traders that like to use scale-in scale-out methods for their trading. Not to mention the visual side of the indicator which looks pretty great with the net mode on.
HTF (Higher Time Frame) Trend System:
The system also includes additional higher time frame (HTF) trend system. This can be set to any time frame by manual HTF mode. HTF mode set to "auto" will automatically choose the best suitable higher time frame trend system based on how appropriate the aggregation is. For everything below 5min the HTF Trend System will stay on 5min. Anything between 5-15min = 30min. 30min - 120min will turn on the 240min. 180min and higher will result in Daily time frame. Anything above the Daily will result in Weekly HTF aggregation, above W = Monthly, above M = Quarterly.
Background Clouds:
In terms of visualization, each trend system is fully customizable through the inputs settings. There is also an option to turn on/off the background clouds behind the stop lines. These clouds can make the charts more clean & visible.
Tips & Tricks:
1. Different Trend Modes
Try out different modes in different markets. There is no one single mode that will fit to everyone on the same type of market. I myself actually prefer more Loose than the Normal.
2. Stop Line Mirroring
Whenever the Stop Lines start to mirror each other (there is one above the price and one below) this means the price is entering a ranging sideways market. It does not matter which Stop Line will the price touch first. They can both be faded until one of them flips.
3. Signs of the Ranging Market
Watch out for signs of ranging market. Whenever the Trend System looses its colors whether on trend line or trend bars, if everything turns neutral (gray) that is usually a solid indication of a range type action for the following moments. Also as already stated before, the Stop Line mirroring is a good sign of the range market.
4. Trailing Tool, Trend System as an Additional Study?
In case you are not a fan of the colorful green / red charts & candles. You can switch all of them off and just leave the Stop Line on. This way you can use the benefits of the trend system and still use other studies on top of that. Similarly as the Parabolic SAR is often used.
5. The Flip Setup
One of my favorite trades is the Flip Setup on the 5min charts. Whenever the Stop Line is broken , the very first opposing touch after the Trend System flips is a usually a highly participated touch. If there is a strong reaction, this means this is likely a beginning of a new trend. Once I am in the position i like to trail the Stop Line on the 1min charts.
Hope it helps.
Cari skrip untuk "adx"
Directional Movement Index FLEXA common problem experienced by short term traders using DMI/ADX is that the session breaks results in carry-over effects from the prior session. For example, a large gap up would result in a positive DMI, even though momentum is clearly negative. Note the extremely different results in the morning session, when the gap is reversed.
The DMI-FLEX algoritm resets the +DI and -DI values to the prior session ending midpoint, so that new momentum can be observed from the indicator. (Note for Pinescript coders: rma function does not accept series int, thus the explicit pine_rma function)
DMI-FLEX has the added feature that the ADX value, instead of a separate line, is shown as shading between the +DI and -DI lines, and the color itself is determined by whether +DI is above -DI for a bullish color, or -DI is above +DI for a bearish color.
DMI Flex also gives you the flexibility of inverse colors, in case your chart has inverted scale.
Summary and How to use:
1) Green when +DI is above -DI
2) Red when -DI is above +DI
3) Deeper shading represents a higher ADX value.
Sniffer
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Overview
A vast majority of modern data analysis & modelling techniques rely upon the idea of hidden patterns, wether it is some type of visualisation tool or some form of a complex machine learning algorithm, the one thing that they have in common is the belief, that patterns tell us what’s hidden behind plain numbers. The same philosophy has been adopted by many traders & investors worldwide, there’s an entire school of thought that operates purely based on chart patterns. This is where Sniffer comes in, it is a tool designed to simplify & quantify the job of pattern recognition on any given price chart, by combining various factors & techniques that generate high-quality results.
This tool analyses bars selected by the user, and highlights bar clusters on the chart that exhibit similar behaviour across multiple dimensions. It can detect a single candle pattern like hammers or dojis, or it can handle multiple candles like morning/evening stars or double tops/bottoms, and many more. In fact, the tool is completely independent of such specific candle formations, instead, it works on the idea of vector similarity and generates a degree of similarity for every single combination of candles. Only the top-n matches are highlighted, users get to choose which patterns they want to analyse and to what degree, by customising the feature-space.
Background
In the world of trading, a common use-case is to scan a price chart for some specific candlestick formations & price structures, and then the chart is further analysed in reference to these events. Traders are often trying to answer questions like, when was the last time price showed similar behaviour, what are the instances similar to what price is doing right now, what happens when price forms a pattern like this, what were some of other indicators doing when this happened last(RSI, CCI, ADX etc), and many other abstract ideas to have a stronger confluence or to confirm a bias.Having such a context can be vital in making better informed decisions, but doing this manually on a chart that has thousands of candles can have many disadvantages. It’s tedious, human errors are rather likely, and even if it’s done with pin-point accuracy, chances are that we’ll miss out on many pieces of information. This is the thought that gave birth to Sniffer .
Sniffer tries to provide a general solution for pattern-based analysis by deploying vector-similarity computation techniques, that cover the full-breadth of a price chart and generate a list of top-n matches based on the criteria selected by the user. Most of these techniques come from the data science space, where vector similarity is often implemented to solve classification & clustering problems. Sniffer uses same principles of vector comparison, and computes a degree of similarity for every single candle formation within the selected range, and as a result generates a similarity matrix that captures how similar or dissimilar a set of candles is to the input set selected by the user.
How It Works
A brief overview of how the tool is implemented:
- Every bar is processed, and a set of features are mapped to it.
- Bars selected by the user are captured, and saved for later use.
- Once the all the bars have been processed, candles are back-tracked and degree of similarity is computed for every single bar(max-limit is 5000 bars).
- Degree of similarity is computed by comparing attributes like price range, candle breadth & volume etc.
- Similarity matrix is sorted and top-n results are highlighted on the chart through boxes of different colors.
A brief overview of the features space for bars:
- Range: Difference between high & low
- Body: Difference between close & open
- Volume: Traded volume for that candle
- Head: Upper wick for green candles & lower wick for red candles
- Tail: Lower wick for green candles & upper wick for red candles
- BTR: Body to Range ratio
- HTR: Head to Range ratio
- TTR: Tail to Range ratio
- HTB: Head to Body ratio
- TTB: Tail to Body ratio
- ROC: Rate of change for HL2 for four different periods
- RSI: Relative Strength Index
- CCI: Commodity Channel Index
- Stochastic: Stochastic Index
- ADX: DMI+, DMI- & ADX
A brief overview of how degree of similarity is calculated:
- Each bar set is compared to the inout bar set within the selected feature space
- Features are represented as vectors, and distance between the vectors is calculated
- Shorter the distance, greater the similarity
- Different distance calculation methods are available to choose from, such as Cosine, Euclidean, Lorentzian, Manhattan, & Pearson
- Each method is likely to generate slightly different results, users are expected to select the method & the feature space that best fits their use-case
How To Use It
- Usage of this tool is relatively straightforward, users can add this indicator to their chart and similar clusters will be highlighted automatically
- Users need to select a time range that will be treated as input, and bars within that range become the input formation for similarity calculations
- Boxes will be draw around the clusters that fit the matching criteria
- Boxes are color-coded, green color boxes represent the top one-third of the top-n matches, yellow boxes represent the middle third, red boxes are for bottom third, and white box represents user-input
- Boxes colors will be adjusted as you adjust input parameters, such as number of matches or look-back period
User Settings
Users can configure the following options:
- Select the time-range to set input bars
- Select the look-back period, number of candles to backtrack for similarity search
- Select the number of top-n matches to show on the chart
- Select the method for similarity calculation
- Adjust the feature space, this enables addition of custom features, such as pattern recognition, technical indicators, rate of change etc
- Toggle verbosity, shows degree of similarity as a percentage value inside the box
Top Features
- Pattern Agnostic: Designed to work with variable number of candles & complex patterns
- Customisable Feature Space: Users get to add custom features to each bar
- Comprehensive Comparison: Generates a degree of similarity for all possible combinations
Final Note
- Similarity matches will be shown only within last 4500 bars.
- In theory, it is possible to compute similarity for any size candle formations, indicator has been tested with formations of 50+ candles, but it is recommended to select smaller range for faster & cleaner results.
- As you move to smaller time frames, selected time range will provide a larger number of candles as input, which can produce undesired results, it is advised to adjust your selection when you change time frames. Seeking suggestions on how to directly receive bars as user input, instead of time range.
- At times, users may see array index out of bound error when setting up this indicator, this generally happens when the input range is not properly configured. So, it should disappear after you select the input range, still trying to figure out where it is coming from, suggestions are welcome.
Credits
- @HeWhoMustNotBeNamed for publishing such a handy PineScript Logger, it certainly made the job a lot easier.
SPY 1 Minute Day TraderWhen scalping options, users are looking for where breakouts are going to occur instead of sitting thru areas choppy price action that drain delta and cause them to lose value even if price is up trending. This script tries to identify when a trend reversal is expected based on one minute price action on the SPY. It alerts users to prepare for potential breakout when 5 out of the 6 key optimized parameters are discovered by showing a white L or S. Once all six trigger, it informs the user at the close of that candle with a golden triangle with Pivot Up or Pivot Down. As scalping options is something that is expected to be short in duration, a take profit and stop loss of 30 cents of price actions is established. If five or more parameters occur after the pivot is initiated, then stop losses and take profits are adhered to; however, if there are less, then it waits to take profit or stop the trade, as likely it is just noise and it will finish trend with an additional breakout.
This script has been created to take into account how the following variables impact trend for SPY 1 Minute:
ema vs 13 ema : A cross establishes start of trend
MACD (Line, Signal & Slope) : If you have momentum
ADX : if you are trending
RSI : If the trend has strength
The above has been optimized to determine pivot points in the trend using key values for these 6 indicators
bounce up = ema5 > ema13 and macdLine < .5 and adx > 20 and macdSlope > 0 and signalLine > -.1 and rsiSignal > 40
bounce down = ema5 < ema13 and macdLine > -.5 and adx > 20 and signalLine < 0 and macdSlope < 0 and rsiSignal < 60
White L's indicate that 5 of 6 conditions are met due to impending uptrend w/ missing one in green below it
Yellow L's indicate that 6 of 6 conditions still are met
White S's indicate that 5 of 6 conditions are met due to impending downtrend w/ missing condition in red above it
Yellow S's indicate that 6 of 6 conditions still are met
After a downtrend or uptrend is established, once it closes it can't repeat for 10 minutes
Won't open any trades on last two minutes of any hours to avoid volatility
Will close any open trades going into last minute of hour to avoid large overnight random swings.
MLExtensionsLibrary "MLExtensions"
normalizeDeriv(src, quadraticMeanLength)
Returns the smoothed hyperbolic tangent of the input series.
Parameters:
src : The input series (i.e., the first-order derivative for price).
quadraticMeanLength : The length of the quadratic mean (RMS).
Returns: nDeriv The normalized derivative of the input series.
normalize(src, min, max)
Rescales a source value with an unbounded range to a target range.
Parameters:
src : The input series
min : The minimum value of the unbounded range
max : The maximum value of the unbounded range
Returns: The normalized series
rescale(src, oldMin, oldMax, newMin, newMax)
Rescales a source value with a bounded range to anther bounded range
Parameters:
src : The input series
oldMin : The minimum value of the range to rescale from
oldMax : The maximum value of the range to rescale from
newMin : The minimum value of the range to rescale to
newMax : The maximum value of the range to rescale to
Returns: The rescaled series
color_green(prediction)
Assigns varying shades of the color green based on the KNN classification
Parameters:
prediction : Value (int|float) of the prediction
Returns: color
color_red(prediction)
Assigns varying shades of the color red based on the KNN classification
Parameters:
prediction : Value of the prediction
Returns: color
tanh(src)
Returns the the hyperbolic tangent of the input series. The sigmoid-like hyperbolic tangent function is used to compress the input to a value between -1 and 1.
Parameters:
src : The input series (i.e., the normalized derivative).
Returns: tanh The hyperbolic tangent of the input series.
dualPoleFilter(src, lookback)
Returns the smoothed hyperbolic tangent of the input series.
Parameters:
src : The input series (i.e., the hyperbolic tangent).
lookback : The lookback window for the smoothing.
Returns: filter The smoothed hyperbolic tangent of the input series.
tanhTransform(src, smoothingFrequency, quadraticMeanLength)
Returns the tanh transform of the input series.
Parameters:
src : The input series (i.e., the result of the tanh calculation).
smoothingFrequency
quadraticMeanLength
Returns: signal The smoothed hyperbolic tangent transform of the input series.
n_rsi(src, n1, n2)
Returns the normalized RSI ideal for use in ML algorithms.
Parameters:
src : The input series (i.e., the result of the RSI calculation).
n1 : The length of the RSI.
n2 : The smoothing length of the RSI.
Returns: signal The normalized RSI.
n_cci(src, n1, n2)
Returns the normalized CCI ideal for use in ML algorithms.
Parameters:
src : The input series (i.e., the result of the CCI calculation).
n1 : The length of the CCI.
n2 : The smoothing length of the CCI.
Returns: signal The normalized CCI.
n_wt(src, n1, n2)
Returns the normalized WaveTrend Classic series ideal for use in ML algorithms.
Parameters:
src : The input series (i.e., the result of the WaveTrend Classic calculation).
n1
n2
Returns: signal The normalized WaveTrend Classic series.
n_adx(highSrc, lowSrc, closeSrc, n1)
Returns the normalized ADX ideal for use in ML algorithms.
Parameters:
highSrc : The input series for the high price.
lowSrc : The input series for the low price.
closeSrc : The input series for the close price.
n1 : The length of the ADX.
regime_filter(src, threshold, useRegimeFilter)
Parameters:
src
threshold
useRegimeFilter
filter_adx(src, length, adxThreshold, useAdxFilter)
filter_adx
Parameters:
src : The source series.
length : The length of the ADX.
adxThreshold : The ADX threshold.
useAdxFilter : Whether to use the ADX filter.
Returns: The ADX.
filter_volatility(minLength, maxLength, useVolatilityFilter)
filter_volatility
Parameters:
minLength : The minimum length of the ATR.
maxLength : The maximum length of the ATR.
useVolatilityFilter : Whether to use the volatility filter.
Returns: Boolean indicating whether or not to let the signal pass through the filter.
backtest(high, low, open, startLongTrade, endLongTrade, startShortTrade, endShortTrade, isStopLossHit, maxBarsBackIndex, thisBarIndex)
Performs a basic backtest using the specified parameters and conditions.
Parameters:
high : The input series for the high price.
low : The input series for the low price.
open : The input series for the open price.
startLongTrade : The series of conditions that indicate the start of a long trade.`
endLongTrade : The series of conditions that indicate the end of a long trade.
startShortTrade : The series of conditions that indicate the start of a short trade.
endShortTrade : The series of conditions that indicate the end of a short trade.
isStopLossHit : The stop loss hit indicator.
maxBarsBackIndex : The maximum number of bars to go back in the backtest.
thisBarIndex : The current bar index.
Returns: A tuple containing backtest values
init_table()
init_table()
Returns: tbl The backtest results.
update_table(tbl, tradeStatsHeader, totalTrades, totalWins, totalLosses, winLossRatio, winrate, stopLosses)
update_table(tbl, tradeStats)
Parameters:
tbl : The backtest results table.
tradeStatsHeader : The trade stats header.
totalTrades : The total number of trades.
totalWins : The total number of wins.
totalLosses : The total number of losses.
winLossRatio : The win loss ratio.
winrate : The winrate.
stopLosses : The total number of stop losses.
Returns: Updated backtest results table.
Fibonacci Zone DCA Strategy - R3c0nTraderCredits:
Thank you "eykpunter" for granting me permission to use "Fibonacci Zones" to create this strategy
Thank you "junyou0424" for granting me permission to use "DCA Bot with SuperTrend Emulator" which I used for adding bot inputs, calculations, and strategy
Pre-requisites:
You can use this script without a 3Commas account and see how 3Commas DCA Bot would perform. However, I highly recommend signing up for their free account, going through their training, and testing this strategy with a paper bot. This would give you a base understanding of the settings you will see in this strategy and why you will need to know them.
What can this do?
First off, this is a Long only strategy as I wrote it with DCA in mind. It cannot be used for shorting. Shorting defeats the purpose of a DCA bot which has a goal that is Long a position not Short a position. If you want to short, there are plenty of free scripts out there that do this.
I created this script out of curiosity and I wanted to see how a strategy based on “Fibonacci” levels would work with a 3Commas DCA bot. I came across "eykpunter’s" "Fibonacci Zones" study and in TradingView and I found it to be a very interesting concept. The "Fib Zones" in his study are basically a "Donchian Channel" of 4 Fibonacci lines. These are the High @ 0.236, Center High @ 0.382, Center Low @ 0.618, and Low @ 0.764.
The Fib Zones in this strategy can be used as conditions to open a trade as well as closing a trade. There is also the option to close a trade based on a Target Take Profit (%).
Advanced Fibonacci trading is also supported by specifying additional parameters for Trade Entry and Exit.
For example, for order entry, you can increase the minimum trend strength to open an order via the "minimum ADX value" option. You can also further limit order entry by selecting the option to "Only open trades on bullish +DI" (Positive Directional Index).
Or you can play the contrarian. For example, I would look for "buying the dip" opportunities by doing the following under "Trade Entry Settings":
Set the "Min ADX value to open trade" to zero
Set the option "Open a trade when the price moves" to "1-To the bottom of Downtrend Fib zone" or "2-Higher than the top of the Downtrend Fib zone"
Uncheck option "Only open trades on bullish +DI"
Set the 'Min ADX value to open trade' to Zero
Set the 'Max +DI value to open trade' to a value between 10-20.
For Trade Exit settings, I can use a "Target Take Profit (%)" or one of the High Fib levels to close the trade.
Here's an example result when using a Contrarian-Fibonacci-Zone-DCA strategy:
Explanation of Chart lines and colors on chart
Six Options for Entering a Fibonacci Trade
Open a trade when the price moves:
1-To the bottom of Downtrend Fib zone
2-Higher than the top of the Downtrend Fib zone
3-Higher than the bottom of Ranging Fib Zone
4-Higher than the top of Ranging Fib Zone
5-Higher than the bottom of Uptrend Fib Zone
6-To the top of Uptrend Fib Zone
Three Options for Exiting a Fibonacci Trade
Take profit using:
"Target Take Profit (%)"
"High Fibonacci Border-1"
"High Fibonacci Border-2"
[blackcat] L3 DMIQLevel: 3
Background
The directional movement index (DMI) is an indicator developed by J. Welles Wilder in 1978 that identifies in which direction the price of an asset is moving. The indicator does this by comparing prior highs and lows and drawing two lines: a positive directional movement line (+DI) and a negative directional movement line (-DI). An optional third line, called the average directional index (ADX), can also be used to gauge the strength of the uptrend or downtrend.
Function
When +DI is above -DI, there is more upward pressure than downward pressure in the price. Conversely, if -DI is above +DI, then there is more downward pressure on the price. This indicator may help traders assess the trend direction. Crossovers between the lines are also sometimes used as trade signals to buy or sell.
The directional movement index (DMI) is a technical indicator that measures both the strength and direction of a price movement and is intended to reduce false signals.
The DMI utilizes two standard indicators, one negative (-DM) and one positive (+DN), in conjunction with a third, the average directional index (ADX), which is non-directional but shows momentum.
The larger the spread between the two primary lines, the stronger the price trend. If +DI is way above -DI the price trend is strongly up. If -DI is way above +DI then the price trend is strongly down.
ADX measures the strength of the trend, either up or down; a reading above 25 indicates a strong trend.
Remarks
Free and Open Source
Alerts are added.
Leonidas Squeeze Momentum SystemThis indicator is based on LazyBear SQ Momentum Indicator and SQ Plus Indicator.
This indicator is using ADX and Squeeze Momentum Indicator.
When you see the ADX above 0 line and the slop is positive that means the trend is strong
When the ADX is below 0 line and the trend is weak you will see the slop negative and the color gray
When we see the SQ changing the color from Red to Yellow that means the sell pressure is decreasing this could be a potential buy signal
When we see the color changing from blue to dark blue that means the buy pressure is decreasing this could be a a potential sell signal
Bull/Bear divergences supported
Added SQ signal
this signal is an exponential moving average following the SQ main signal useful for filtering fake signals.
This indicator is very powerful but offers many fake signals it is recommended using this indicator with other indicators to confirm the entries
The Witcher [30MIN] - AlertsHello,
This is the Witcher Bot
This bot is got best performance at BTCUSDTPERP BINANCE FUTURES
this is bot for leverage 1x,
I tried focusing at highest % profitable trades, bot could be optimalised to even higher profit net.
TP: 1.1
SL: 8.2
Stop-loss unfortunelly have to be high to avoid bear/bull traps
The core of this strategy is trend strenght ( MONEY FLOW INDKES)
Strategy can only open position on strong price movment, to avoid wrong decision
Settings are set for highest profitable trades %
Bot using 10 indicators to trigger basic condtition for long and short :
1) ADX - Is one of the most powerful and accurate trend indicators. ADX measures how strong a trend is, and can give valuable information on whether there is a potential trading opportunity.
2) RSI - value helps strategy to stop trade in right time. When RSI is overbought strategy don't open new longs , also when RSI is oversold strategy don't open new shorts
3) TREND STRENGHT
4) JURIK MOVING AVERAGE - The Jurik Moving Average indicator is one of the surest ways to smoothen price curves within a minimum time lag. The indicator offers currency traders one of the best price filters during strong price moves. In this time, when bitcoin price action is so strong, this indicator is necessary.
5) SAR - The parabolic SAR is a technical indicator used to determine the price direction of an asset, as well as draw attention to when the price direction is changing. SAR supporting bot, to not open new trades when the trends are slowly changing
6) TREND INDICATOR
7) MOMENTUM - Indicator istechnical analysis tool used to determine the strength or weakness of a stock's price. Momentum measures the rate of the rise or fall of stock prices. Common momentum indicators include the relative strength index ( RSI ) and moving average convergence divergence ( MACD ).
8) OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price.
9) FAST MA - like previous ones this is for better view of trends, and correctly define the trends, also Speed_MA are using for predict the future price action.
10) RANGE FILTER - this indicator is for the better view of trends, define trends, that is important for every bull/bear traps which helps a lot becouse of the very variable trends.
I decided to add momentum indicator to strategy, to make a fast-reacting decision on lower timeframes at extremly price volatility
Also bot got additional EMA scalping option, which increase profit net but, in some situation, that could be risky.
For max security I recommend to turn off this option.
Commision are set at standard binancefutures VIP-0 = 0.04%
After converting strategy into study version, bot is ready for automation.
All the ploting color depends of adx value.
Strategy are not Repainting
For the source code I tried to keep as clean as I could
Enjoy
pandas_taLibrary "pandas_ta"
Level: 3
Background
Today is the first day of 2022 and happy new year every tradingviewers! May health and wealth go along with you all the time. I use this chance to publish my 1st PINE v5 lib : pandas_ta
This is not a piece of cake like thing, which cost me a lot of time and efforts to build this lib. Beyond 300 versions of this script was iterated in draft.
Function
Library "pandas_ta"
PINE v5 Counterpart of Pandas TA - A Technical Analysis Library in Python 3 at github.com
The Original Pandas Technical Analysis (Pandas TA) is an easy to use library that leverages the Pandas package with more than 130 Indicators and Utility functions and more than 60 TA Lib Candlestick Patterns.
I realized most of indicators except Candlestick Patterns because tradingview built-in Candlestick Patterns are even more powerful!
I use this to verify pandas_ta python version indicators for myself, but I realize that maybe many may need similar lib for pine v5 as well.
Function Brief Descriptions (Pls find details in script comments)
bton --> Binary to number
wcp --> Weighted Closing Price (WCP)
counter --> Condition counter
xbt --> Between
ebsw --> Even Better SineWave (EBSW)
ao --> Awesome Oscillator (AO)
apo --> Absolute Price Oscillator (APO)
xrf --> Dynamic shifted values
bias --> Bias (BIAS)
bop --> Balance of Power (BOP)
brar --> BRAR (BRAR)
cci --> Commodity Channel Index (CCI)
cfo --> Chande Forcast Oscillator (CFO)
cg --> Center of Gravity (CG)
cmo --> Chande Momentum Oscillator (CMO)
coppock --> Coppock Curve (COPC)
cti --> Correlation Trend Indicator (CTI)
dmi --> Directional Movement Index(DMI)
er --> Efficiency Ratio (ER)
eri --> Elder Ray Index (ERI)
fisher --> Fisher Transform (FISHT)
inertia --> Inertia (INERTIA)
kdj --> KDJ (KDJ)
kst --> 'Know Sure Thing' (KST)
macd --> Moving Average Convergence Divergence (MACD)
mom --> Momentum (MOM)
pgo --> Pretty Good Oscillator (PGO)
ppo --> Percentage Price Oscillator (PPO)
psl --> Psychological Line (PSL)
pvo --> Percentage Volume Oscillator (PVO)
qqe --> Quantitative Qualitative Estimation (QQE)
roc --> Rate of Change (ROC)
rsi --> Relative Strength Index (RSI)
rsx --> Relative Strength Xtra (rsx)
rvgi --> Relative Vigor Index (RVGI)
slope --> Slope
smi --> SMI Ergodic Indicator (SMI)
sqz* --> Squeeze (SQZ) * NOTE: code sufferred from very strange error, code was commented.
sqz_pro --> Squeeze PRO(SQZPRO)
xfl --> Condition filter
stc --> Schaff Trend Cycle (STC)
stoch --> Stochastic (STOCH)
stochrsi --> Stochastic RSI (STOCH RSI)
trix --> Trix (TRIX)
tsi --> True Strength Index (TSI)
uo --> Ultimate Oscillator (UO)
willr --> William's Percent R (WILLR)
alma --> Arnaud Legoux Moving Average (ALMA)
xll --> Dynamic rolling lowest values
dema --> Double Exponential Moving Average (DEMA)
ema --> Exponential Moving Average (EMA)
fwma --> Fibonacci's Weighted Moving Average (FWMA)
hilo --> Gann HiLo Activator(HiLo)
hma --> Hull Moving Average (HMA)
hwma --> HWMA (Holt-Winter Moving Average)
ichimoku --> Ichimoku Kinkō Hyō (ichimoku)
jma --> Jurik Moving Average Average (JMA)
kama --> Kaufman's Adaptive Moving Average (KAMA)
linreg --> Linear Regression Moving Average (linreg)
mgcd --> McGinley Dynamic Indicator
rma --> wildeR's Moving Average (RMA)
sinwma --> Sine Weighted Moving Average (SWMA)
ssf --> Ehler's Super Smoother Filter (SSF) © 2013
supertrend --> Supertrend (supertrend)
xsa --> X simple moving average
swma --> Symmetric Weighted Moving Average (SWMA)
t3 --> Tim Tillson's T3 Moving Average (T3)
tema --> Triple Exponential Moving Average (TEMA)
trima --> Triangular Moving Average (TRIMA)
vidya --> Variable Index Dynamic Average (VIDYA)
vwap --> Volume Weighted Average Price (VWAP)
vwma --> Volume Weighted Moving Average (VWMA)
wma --> Weighted Moving Average (WMA)
zlma --> Zero Lag Moving Average (ZLMA)
entropy --> Entropy (ENTP)
kurtosis --> Rolling Kurtosis
skew --> Rolling Skew
xev --> Condition all
zscore --> Rolling Z Score
adx --> Average Directional Movement (ADX)
aroon --> Aroon & Aroon Oscillator (AROON)
chop --> Choppiness Index (CHOP)
xex --> Condition any
cksp --> Chande Kroll Stop (CKSP)
dpo --> Detrend Price Oscillator (DPO)
long_run --> Long Run
psar --> Parabolic Stop and Reverse (psar)
short_run --> Short Run
vhf --> Vertical Horizontal Filter (VHF)
vortex --> Vortex
accbands --> Acceleration Bands (ACCBANDS)
atr --> Average True Range (ATR)
bbands --> Bollinger Bands (BBANDS)
donchian --> Donchian Channels (DC)
kc --> Keltner Channels (KC)
massi --> Mass Index (MASSI)
natr --> Normalized Average True Range (NATR)
pdist --> Price Distance (PDIST)
rvi --> Relative Volatility Index (RVI)
thermo --> Elders Thermometer (THERMO)
ui --> Ulcer Index (UI)
ad --> Accumulation/Distribution (AD)
cmf --> Chaikin Money Flow (CMF)
efi --> Elder's Force Index (EFI)
ecm --> Ease of Movement (EOM)
kvo --> Klinger Volume Oscillator (KVO)
mfi --> Money Flow Index (MFI)
nvi --> Negative Volume Index (NVI)
obv --> On Balance Volume (OBV)
pvi --> Positive Volume Index (PVI)
dvdi --> Dual Volume Divergence Index (DVDI)
xhh --> Dynamic rolling highest values
pvt --> Price-Volume Trend (PVT)
Remarks
I also incorporated func descriptions and func test script in commented mode, you can test the functino with the embedded test script and modify them as you wish.
This is a Level 3 free and open source indicator library.
Feedbacks are appreciated.
This is not the end of pandas_ta lib publication, but it is start point with pine v5 lib function and I will add more and more funcs into this lib for my own indicators.
Function Name List:
bton()
wcp()
count()
xbt()
ebsw()
ao()
apo()
xrf()
bias()
bop()
brar()
cci()
cfo()
cg()
cmo()
coppock()
cti()
dmi()
er()
eri()
fisher()
inertia()
kdj()
kst()
macd()
mom()
pgo()
ppo()
psl()
pvo()
qqe()
roc()
rsi()
rsx()
rvgi()
slope()
smi()
sqz_pro()
xfl()
stc()
stoch()
stochrsi()
trix()
tsi()
uo()
willr()
alma()
wcx()
xll()
dema()
ema()
fwma()
hilo()
hma()
hwma()
ichimoku()
jma()
kama()
linreg()
mgcd()
rma()
sinwma()
ssf()
supertrend()
xsa()
swma()
t3()
tema()
trima()
vidya()
vwap()
vwma()
wma()
zlma()
entropy()
kurtosis()
skew()
xev()
zscore()
adx()
aroon()
chop()
xex()
cksp()
dpo()
long_run()
psar()
short_run()
vhf()
vortex()
accbands()
atr()
bbands()
donchian()
kc()
massi()
natr()
pdist()
rvi()
thermo()
ui()
ad()
cmf()
efi()
ecm()
kvo()
mfi()
nvi()
obv()
pvi()
dvdi()
xhh()
pvt()
Trading Made Easy ATR BandsAs always, this is not financial advice and use at your own risk. Trading is risky and can cost you significant sums of money if you are not careful. Make sure you always have a proper entry and exit plan that includes defining your risk before you enter a trade.
Background:
This is my take on two relatively famous indicators that paint the colour of your candles in order to help identify trend direction and smooth out market noise. The Elder Impulse System was designed by Dr . Alexander Elder in his book Come Into My Trading Room and attempts to identify the change of trends and when these trends speed up and slow down (school.stockcharts.com). The system used a 13 period EMA and a MACD histogram, and compared each of these indicators to the previous period. In short, when both the histogram and the EMA were rising, the trend was accelerating to the upside and when both were falling, accelerating to the downside. Conversely, when the indicators were not in alignment, say the MACD falling but the EMA rising, it signaled a slowing down of momentum. The downside of this indicator is that it be can rather jumpy, focusing on a short period EMA for 50% of its calculation, leaving a trader to potentially sit on the sidelines during opportune pull backs to enter winning positions, or exit early when there is still a lot of gas left in the tank.
A similar concept has been employed by John Carter and his organization, SimplerTrading, with the 10X bars indicator. However, here they use the famous Directional Movement Index (DMI) created by J. Welles Wilder as the basis for their bars (www.simplertrading.com). John Carter states that the use of this indicator can lead to getting in earlier on more, bigger, and faster setups. The downside of this indicator is the reliance on the ADX calculations to keep you out of rangebound trades. Anyone who is familiar with the DMI system understands it has unparalleled ability to identify longer term trends, but it is also quite slow, leaving the trader to miss a good portion of the initial runup due to this ADX portion that is very slow to get moving and also slow to signal exits.
In short, both of these systems are designed with one thing in mind: keeping the trader on the right side of the move --- but both suffer from the same issue but on opposite sides of the spectrum. One is too fast and the other is too slow. Ultimately, leaving profits on the table for the trader when such a situation could be avoided.
Here I present my own take on these and have made the “Trading Made Easy ATR Bands”. I name it this because trading is much easier when you trade with the prevailing trend, and this system identifies these periods quite effectively while doing a better job of handling the speed flux of most markets. The base formula uses the DMI as its main calculation and the relationship between the DMI+ and DMI- lines, respectively, like the 10X bars. While the trader can investigate these on their own to understand these more intimately, essentially the DMI+ and DMI- lines are calculating the highs and lows respectively of each bar compared to a period in the past and smoothed with the true range, a measurement of volatility . What this ultimately presents is a picture of uptrends and downtrends, where price is making consistently more highs or more lows over a period of time. Where I have modified this relative to the 10X bars is I have ignored the ADX calculations. Further, values over 25 have been discussed as “strong” momentum, in my calculations, I have sped this up to 20 to get a trader into the move earlier. Second, I have added an additional calculation based around the 21-period exponential moving average calculated against its previous output. This then, like the Elder Impulse System, has two forms of market momentum as its calculation to smooth out noise, but has the benefit of being less jumpy, like the original 10X bar system. I have added a series of exponential moving averages following the Fibonacci sequence from 8-144 as a system of dynamic support and resistance showing the sentiment of both the shorter and longer term market participants. Last, I have added a series of Keltner Channels , from 1X-4X, that encompass the 21 period EMA as a base line. The 21 EMA is a stable in all of John Carter’s work and I do believe he is correct that the market is mostly structured around this line, since it roughly approximates one month of trading data. It is not uncommon to see price expand and contract back to this line over and over again.
Trade Signals:
Strong Bullish Momentum – The system will generate a green bar when the DMI+ line is over the DMI- line, the DMI+ line is equal or greater than 20 and the 21 EMA has increased relative to its last close.
Weak Bullish Momentum – The system will generate a blue bar in several scenarios. First, when the DMI+ line is over the DMI- line but the DMI+ line is not over 20 and the EMA is equal or less than the previous close. It will also print a blue bar if either the DMI or the EMA are not aligned, such as the DMI+ is over the DMI- but not over 20 but the EMA has risen compared to the last bar. Last, it will also print a blue bar if the DMI- is over the DMI+ but the EMA is rising.
Strong Bearish Momentum – The system will generate a red bar when the DMI- line is over the DMI+ line, the DMI- line is equal or greater than 20, and the 21 EMA has fallen relative to its last close.
Weak Bearish Momentum – The system will generate an orange bar in several scenarios. First when the DMI- line is over the DMI+ line but the DMI- line is not over 20 and the EMA is equal or greater than the last bar. It will also print an orange bar if either the DMI or the EMA are not aligned, such as the DMI- is over the DMI+ but not over 20 but the EMA has fallen. Lastly, it will also print an orange bar if the DMI+ line is over the DMI- and the EMA has fallen relative to the last bar.
Uses:
1) Like the Elder Impulse System and 10X Bar systems, these should be used as trade filters only.. It is in the trader’s best interest to trade with the trends and these bars identify these periods but may not always generate the most opportune time to enter a market. For instance, trying to short a market when the market is in a phase of Strong Bullish Momentum would not be wise, and vice versa with trying to open long positions when the market is exhibiting Strong Bearish Momentum. Use multiple forms of evidence to confirm the signals shown before entering any trade and to not take these signals on their without confluence of ideas. A viable system could use the Elder Triple Screen System (for reference, see this decent write up --- www.dailyforex.com) with the Trading Made Easy Bands as your “Tide” or longer term filter, and a further trading plan to establish an entry on a short time frame pull back.
2) Interim Trend Exhaustion – Keltner channels work as moving standard deviations from the 21 EMA . 3X multipliers will encompass 99.7% of price and 4X will encompass 99.9% of price away from the 21 EMA . During a trend it would be a good idea to lock in partial profits when price reaches these outer extrema as it is very highly probable that a retracement back to the mean is approaching. While not part of the system, and not recommended to be used by this system, a mean reversion trader could in theory look for reversals at these extrema points and trade a mean reversion strategy back to the 21EMA, but is a much riskier trade with lower probability of success. A trend trader should look to enter trades when a signal is given within the 1ATR or 2ATR zone as this is when price has not really started accelerating yet and is likely to see continued momentum in that direction.
Indicators Combination Framework v3 IND [DTU]Hello All,
This script is a framework to analyze and see the results by combine selected indicators for (long, short, longexit, shortexit) conditions.
I was designed this for beginners and users to facilitate to see effects of the technical indicators combinations on the chart WITH NO CODE
You can improve your strategies according the results of this system by connecting the framework to a strategy framework/template such as Pinecoder, Benson, daveatt or custom.
This is enhanced version of my previous indicator "Indicators & Conditions Test Framework "
Currently there are 93 indicators (23 newly added) connected over library. You can also import an External Indicator or add Custom indicator (In the source)
It is possible to change it from Indicator to strategy (simple one) by just remarking strategy parts in the source code and see real time profit of your combinations
Feel free to change or use it in your source
Special thanks goes to Pine wizards: Trading view (built-in Indicators), @Rodrigo, @midtownsk8rguy, @Lazybear, @Daveatt and others for their open source codes and contributions
SIMPLE USAGE
1. SETTING: Show Alerts= True (To see your entries and Exists)
2. Define your Indicators (ex: INDICATOR1: ema(close,14), INDICATOR2: ema(close,21), INDICATOR3: ema(close,200)
3. Define Your Combinations for long & Short Conditions
a. For Long: (INDICATOR1 crossover INDICATOR2) AND (INDICATOR3 < close)
b. For Short: (INDICATOR1 crossunder INDICATOR2) AND (INDICATOR3 > close)
4. Select Strategy/template (Import strategy to chart) that you export your signals from the list
5. Analyze the best profit by changing Indicators values
SOME INDICATORS DETAILS
Each Indicator includes:
- Factorization : Converting the selected indicator to Double, triple Quadruple such as EMA to DEMA, TEMA QEMA
- Log : Simple or log10 can be used for calculation on function entries
- Plot Type : You can overlay the indicator on the chart (such ema) or you can use stochastic/Percentrank approach to display in the variable hlines range
- Extended Parametes : You can use default parameters or you can use extended (P1,P2) parameters regarding to indicator type and your choice
- Color : You can define indicator color and line properties
- Smooth : you can enable swma smooth
- indicators : you can select one of the 93 function like ema(),rsi().. to define your indicator
- Source : you can select from already defined indicators (IND1-4), External Indicator (EXT), Custom Indicator (CUST), and other sources (close, open...)
CONDITION DETAILS
- There are are 4 type of conditions, long entry, short entry, long exit, short exit.
- Each condition are built up from 4 combinations that joined with "AND" & "OR" operators
- You can see the results by enabling show alerts check box
- If you only wants to enter long entry and long exit, just fill these conditions
- If "close on opposite" checkbox selected on settings, long entry will be closed on short entry and vice versa
COMBINATIONS DETAILS
- There are 4 combinations that joined with "AND" & "OR" operators for each condition
- combinations are built up from compare 1st entry with 2nd one by using operator
- 1st and 2nd entries includes already defined indicators (IND1-5), External Indicator (EXT), Custom Indicator (CUST), and other sources (close, open...)
- Operators are comparison values such as >,<, crossover,...
- 2nd entry include "VALUE" parameter that will use to compare 1st indicator with value area
- If 2nd indicator selected different than "VALUE", value are will mean previous value of the selection. (ex: value area= 2, 2nd entry=close, means close )
- Selecting "NONE" for the 1st entry will disable calculation of current and following combinations
JOINS DETAILS
- Each combination will join wiht the following one with the JOIN (AND, OR) operator (if the following one is not equal "NONE")
CUSTOM INDICATOR
- Custom Indicator defines harcoded in the source code.
- You can call it with "CUST" in the Indicator definition source or combination entries source
- You can change or implement your custom indicator by updating the source code
EXTERNAL INDICATOR
- You can import an external indicator by selecting it from the ext source.
- External Indicator should be already imported to the chart and it have an plot function to output its signal
EXPORTING SIGNAL
- You can export your result to an already defined strategy template such as Pine coders, Benson, Daveatt Strategy templates
- Or you can define your custom export for other future strategy templates
ALERTS
- By enabling show alerts checkbox, you can see long entry exits on the bottom, and short entry exits aon the top of the chart
ADDITIONAL INFO
- You can see all off the inputs descriptions in the tooltips. (You can also see the previous version for details)
- Availability to set start, end dates
- Minimize repainting by using security function options (Secure, Semi Secure, Repaint)
- Availability of use timeframes
-
Version 3 INDICATORS LIST (More to be added):
▼▼▼ OVERLAY INDICATORS ▼▼▼
alma(src,len,offset=0.85,sigma=6).-------Arnaud Legoux Moving Average
ama(src,len,fast=14,slow=100).-----------Adjusted Moving Average
accdist().-------------------------------Accumulation/distribution index.
cma(src,len).----------------------------Corrective Moving average
dema(src,len).---------------------------Double EMA (Same as EMA with 2 factor)
ema(src,len).----------------------------Exponential Moving Average
gmma(src,len).---------------------------Geometric Mean Moving Average
highest(src,len).------------------------Highest value for a given number of bars back.
hl2ma(src,len).--------------------------higest lowest moving average
hma(src,len).----------------------------Hull Moving Average.
lagAdapt(src,len,perclen=5,fperc=50).----Ehlers Adaptive Laguerre filter
lagAdaptV(src,len,perclen=5,fperc=50).---Ehlers Adaptive Laguerre filter variation
laguerre(src,len).-----------------------Ehlers Laguerre filter
lesrcp(src,len).-------------------------lowest exponential esrcpanding moving line
lexp(src,len).---------------------------lowest exponential expanding moving line
linreg(src,len,loffset=1).---------------Linear regression
lowest(src,len).-------------------------Lovest value for a given number of bars back.
mcginley(src, len.-----------------------McGinley Dynamic adjusts for market speed shifts, which sets it apart from other moving averages, in addition to providing clear moving average lines
percntl(src,len).------------------------percentile nearest rank. Calculates percentile using method of Nearest Rank.
percntli(src,len).-----------------------percentile linear interpolation. Calculates percentile using method of linear interpolation between the two nearest ranks.
previous(src,len).-----------------------Previous n (len) value of the source
pivothigh(src,BarsLeft=len,BarsRight=2).-Previous pivot high. src=src, BarsLeft=len, BarsRight=p1=2
pivotlow(src,BarsLeft=len,BarsRight=2).--Previous pivot low. src=src, BarsLeft=len, BarsRight=p1=2
rema(src,len).---------------------------Range EMA (REMA)
rma(src,len).----------------------------Moving average used in RSI. It is the exponentially weighted moving average with alpha = 1 / length.
sar(start=len, inc=0.02, max=0.02).------Parabolic SAR (parabolic stop and reverse) is a method to find potential reversals in the market price direction of traded goods.start=len, inc=p1, max=p2. ex: sar(0.02, 0.02, 0.02)
sma(src,len).----------------------------Smoothed Moving Average
smma(src,len).---------------------------Smoothed Moving Average
super2(src,len).-------------------------Ehlers super smoother, 2 pole
super3(src,len).-------------------------Ehlers super smoother, 3 pole
supertrend(src,len,period=3).------------Supertrend indicator
swma(src,len).---------------------------Sine-Weighted Moving Average
tema(src,len).---------------------------Triple EMA (Same as EMA with 3 factor)
tma(src,len).----------------------------Triangular Moving Average
vida(src,len).---------------------------Variable Index Dynamic Average
vwma(src,len).---------------------------Volume Weigted Moving Average
volstop(src,len,atrfactor=2).------------Volatility Stop is a technical indicator that is used by traders to help place effective stop-losses. atrfactor=p1
wma(src,len).----------------------------Weigted Moving Average
vwap(src_).------------------------------Volume Weighted Average Price (VWAP) is used to measure the average price weighted by volume
▼▼▼ NON OVERLAY INDICATORS ▼▼
adx(dilen=len, adxlen=14, adxtype=0).----adx. The Average Directional Index (ADX) is a used to determine the strength of a trend. len=>dilen, p1=adxlen (default=14), p2=adxtype 0:ADX, 1:+DI, 2:-DI (def:0)
angle(src,len).--------------------------angle of the series (Use its Input as another indicator output)
aroon(len,dir=0).------------------------aroon indicator. Aroons major function is to identify new trends as they happen.p1 = dir: 0=mid (default), 1=upper, 2=lower
atr(src,len).----------------------------average true range. RMA of true range.
awesome(fast=len=5,slow=34,type=0).------Awesome Oscilator is an indicator used to measure market momentum. defaults : fast=len= 5, p1=slow=34, p2=type: 0=Awesome, 1=difference
bbr(src,len,mult=1).---------------------bollinger %%
bbw(src,len,mult=2).---------------------Bollinger Bands Width. The Bollinger Band Width is the difference between the upper and the lower Bollinger Bands divided by the middle band.
cci(src,len).----------------------------commodity channel index
cctbbo(src,len).-------------------------CCT Bollinger Band Oscilator
change(src,len).-------------------------A.K.A. Momentum. Difference between current value and previous, source - source . is most commonly referred to as a rate and measures the acceleration of the price and/or volume of a security
cmf(len=20).-----------------------------Chaikin Money Flow Indicator used to measure Money Flow Volume over a set period of time. Default use is len=20
cmo(src,len).----------------------------Chande Momentum Oscillator. Calculates the difference between the sum of recent gains and the sum of recent losses and then divides the result by the sum of all price movement over the same period.
cog(src,len).----------------------------The cog (center of gravity) is an indicator based on statistics and the Fibonacci golden ratio.
copcurve(src,len).-----------------------Coppock Curve. was originally developed by Edwin Sedge Coppock (Barrons Magazine, October 1962).
correl(src,len).-------------------------Correlation coefficient. Describes the degree to which two series tend to deviate from their ta.sma values.
count(src,len).--------------------------green avg - red avg
cti(src,len).----------------------------Ehler s Correlation Trend Indicator by
dev(src,len).----------------------------ta.dev() Measure of difference between the series and its ta.sma
dpo(len).--------------------------------Detrended Price OScilator is used to remove trend from price.
efi(len).--------------------------------Elders Force Index (EFI) measures the power behind a price movement using price and volume.
eom(len=14,div=10000).-------------------Ease of Movement.It is designed to measure the relationship between price and volume.p1 = div: 10000= (default)
falling(src,len).------------------------ta.falling() Test if the `source` series is now falling for `length` bars long. (Use its Input as another indicator output)
fisher(len).-----------------------------Fisher Transform is a technical indicator that converts price to Gaussian normal distribution and signals when prices move significantly by referencing recent price data
histvol(len).----------------------------Historical volatility is a statistical measure used to analyze the general dispersion of security or market index returns for a specified period of time.
kcr(src,len,mult=2).---------------------Keltner Channels Range
kcw(src,len,mult=2).---------------------ta.kcw(). Keltner Channels Width. The Keltner Channels Width is the difference between the upper and the lower Keltner Channels divided by the middle channel.
klinger(type=len).-----------------------Klinger oscillator aims to identify money flow’s long-term trend. type=len: 0:Oscilator 1:signal
macd(src,len).---------------------------MACD (Moving Average Convergence/Divergence)
mfi(src,len).----------------------------Money Flow Index s a tool used for measuring buying and selling pressure
msi(len=10).-----------------------------Mass Index (def=10) is used to examine the differences between high and low stock prices over a specific period of time
nvi().-----------------------------------Negative Volume Index
obv().-----------------------------------On Balance Volume
pvi().-----------------------------------Positive Volume Index
pvt().-----------------------------------Price Volume Trend
ranges(src,upper=len, lower=-5).---------ranges of the source. src=src, upper=len, v1:lower=upper . returns: -1 source=upper otherwise 0
rising(src,len).-------------------------ta.rising() Test if the `source` series is now rising for `length` bars long. (Use its Input as another indicator output)
roc(src,len).----------------------------Rate of Change
rsi(src,len).----------------------------Relative strength Index
rvi(src,len).----------------------------The Relative Volatility Index (RVI) is calculated much like the RSI, although it uses high and low price standard deviation instead of the RSI’s method of absolute change in price.
smi_osc(src,len,fast=5, slow=34).--------smi Oscillator
smi_sig(src,len,fast=5, slow=34).--------smi Signal
stc(src,len,fast=23,slow=50).------------Schaff Trend Cycle (STC) detects up and down trends long before the MACD. Code imported from
stdev(src,len).--------------------------Standart deviation
trix(src,len) .--------------------------the rate of change of a triple exponentially smoothed moving average.
tsi(src,len).----------------------------The True Strength Index indicator is a momentum oscillator designed to detect, confirm or visualize the strength of a trend.
ultimateOsc(len.-------------------------Ultimate Oscillator indicator (UO) indicator is a technical analysis tool used to measure momentum across three varying timeframes
variance(src,len).-----------------------ta.variance(). Variance is the expectation of the squared deviation of a series from its mean (ta.sma), and it informally measures how far a set of numbers are spread out from their mean.
willprc(src,len).------------------------Williams %R
wad().-----------------------------------Williams Accumulation/Distribution.
wvad().----------------------------------Williams Variable Accumulation/Distribution.
HISTORY
v3.01
ADD: 23 new indicators added to indicators list from the library. Current Total number of Indicators are 93. (to be continued to adding)
ADD: 2 more Parameters (P1,P2) for indicator calculation added. Par:(Use Defaults) uses only indicator(Source, Length) with library's default parameters. Par:(Use Extra Parameters P1,P2) use indicator(Source,Length,p1,p2) with additional parameters if indicator needs.
ADD: log calculation (simple, log10) option added on indicator function entries
ADD: New Output Signals added for compatibility on exporting condition signals to different Strategy templates.
ADD: Alerts Added according to conditions results
UPD: Indicator source inputs now display with indicators descriptions
UPD: Most off the source code rearranged and some functions moved to the new library. Now system work like a little bit frontend/backend
UPD: Performance improvement made on factorization and other source code
UPD: Input GUI rearranged
UPD: Tooltips corrected
REM: Extended indicators removed
UPD: IND1-IND4 added to indicator data source. Now it is possible to create new indicators with the previously defined indicators value. ex: IND1=ema(close,14) and IND2=rsi(IND1,20) means IND2=rsi(ema(close,14),20)
UPD: Custom Indicator (CUST) added to indicator data source and Combination Indicator source.
UPD: Volume added to indicator data source and Combination Indicator source.
REM: Custom indicators removed and only one custom indicator left
REM: Plot Type "Org. Range (-1,1)" removed
UPD: angle, rising, falling type operators moved to indicator library
Joint Conditions Strategy Suite + TradingConnector alerts bot"Please give us combined alerts with the possibility of having several conditions in place to trigger the alert." - was the top voted request from users under one of the recent blogposts by TradingView.
Ask and you shall receive ;)
TradingView is a great platform, with unmatched set of functionalities, yet this particular combo of features indeed seems not to be in place. Fortunately, TradingView is also very open platform, thanks to PineScript coding language, which enables developing combos like the requried one and plenty of other magic.
I have already published numerous "educational" scripts, showing how to code indicators and alerts with PineScript, but... this is not one of them. This one is for real. READY FOR USE on real markets, also by the non-coding traders. Just take my script, set parameters with dropdowns, backtest the strategy, fire the alerts and execute them.
HOW TO USE IT
In "Settings" popup I tried to mimic the CreateAlert popup dropdowns for selecting logic. Let's say you want to enter Long position at Stochastic KxD crossover. In first line of Long Entry conditions set "StochK" + "Crossing Up" + "StochD". Last field doesn't matter because in 3rd dropdown something else than "value" was selected. In second line you could set "maB" + "Greater Than" + "maC" to filter out those entries which are in direction of the uptrend. And yeah, add ADX>25 to make sure the market is actually moving: "ADX" + "Greater Than" + "value" + "25". All condition lines must be TRUE (or skipped) for the entry to be triggered. Toghether with an alert.
The same for Short entries. Combinations are limitless.
INDICATORS AND MTF (MULTI-TIMEFRAME)
In those dropdowns you can select candle values like open/close/high/low/ohlc4, but also some most popular indicators, which I have pre-built into this script: RSI, various Moving Averages, ADX-DMI, Stochastic and Bollinger Bands for start. You can configure parameters of those indicators also in "Settings" popup, in "Indicator Definitions" section. What's important, you can use any of these indicators from higher timeframe, setting MTF multiplier. So if you applied this indicator to 1h chart, but want to use rsi(close,14) from 4h chart, set MTF to 4. If you want to use current timeframe indicators, keep MTF at 1, which is a default setting here.
Note for coders: to keep focus of this script on joining conditions, entire logic for those indicators has been moved to external library, also open source. I encourage you to dig into the code and see how it's done. I love the addition of libraries concept in PineScript.
CUSTOM INDICATOR
Following the "openness" spirit of my master - which is TradingView itself - my work is also open, in 2 ways:
1. This script is open source. So you can grab it, modify or add any functionalities you want. I cannot and don't want to stop you from doing that. I'm asking for only one favor - please mention this source script in your credits.
2. You can import the plot (series) from any other indicator on TradingView. In Settings popup of my script, scroll down to "Indicator Definitions" section, and select the series of your choice in the first dropdown. Now it is ready to use in conditions dropdowns on top of the Settings popup.
Let me give you an example of that last scenario. Take another script of mine, "Pivot Points on SR lines DEMO". You can find it in "Indicators & Strategies" library or here: (). Attach it to your chart. Now come back to THIS script, open Settings popup and in "Custom Indicator aka Imported Source" select "Pivot Points on SR lines: ...". The way it works - it detects if a pivot point happened on Support/Resistance line from the past and returns 1 for PivotLow and -1 for Pivot High. Now in first Long Entry condition set: "custom indicator" + "Greater Than" + "value" + "0" and long entries will be marked on every pivot low noticed on Support/Resistance line.
ALERTS
Last but not least - the alerts. This script produces alerts on the entries calculated by strategy logic, as marked on the chart by the backtester. Moreover, syntax of those alerts is already prepared and fully compatible with TradingConnector - alerts executing tool (bot), if you want to auto-execute those trades. Apart from installing the tool, you need to set
up the alerts in TradingView, here is how:
open CreateAlert popup
in first dropdown select "Joint Conditions Strategy Template"
in second dropdown select "alert() function calls only"
And that's all. You only need to set one alert for the whole script, not one for Longs and one for Shorts as it was in the past. Also, you don't need to setup closing alerts, because stop-loss/take-profit/trailing-stop information is embedded in the entry alert so your broker receives it as early as possible. Alerts sent will look like this: "long sl=40 tp=80", which is exactly what TradingConnector expects.
Phew, that's all folks. If you think I should add something to this template (maybe other indicators?) please let me know in comments or via DM. Happy trading!
P.S. Pyramiding is not supported in this script.
Disclaimer : I'm not saying above combination of conditions will make you money. Actually none of this can be considered financial advice. It is only a software tool. Use it wisely, be aware of the risk and do your own research!
[blackcat] L1 Enhanced DMILevel: 1
Background
The Directional Movement Index (DMI) is an indicator developed by J. Welles Wilder in 1978 that shows the direction in which the price of an asset is moving. The indicator does this by comparing previous highs and lows and drawing two lines: a positive directional movement line (+ DI) and a negative directional movement line (-DI). An optional third line, called the Average Directional Index (ADX), can also be used to measure the strength of the upward or downward trend.
When + DI is above -DI there is more upward pressure than downward pressure in price. Conversely, when -DI is above + DI, there is more downward pressure on the price. This indicator can help traders estimate the direction of the trend. Crossovers between the lines are also sometimes used as trading signals to buy or sell.
Function
This is a blackcat1402 enhanced DMI indicator by counting period number of +DI and -DI relationship, overbought and oversold states are given.
Key Signal
White line --> +DI
Yellow line --> -DI
Fuchsia line --> ADX
Green line --> ADXR, or averaged ADX
red OB label --> overbought
green OS label --> oversold
Remarks
Feedbacks are appreciated.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Didi's TrendChanges the background according to the DMI trend.
Based on the way the infamous Brazilian trader with over 40 years experience, Master Didi Aguiar reads the Directional Movement Index — one indicators in his setup.
It's read this way:
Only trade on the direction of the trend. Start the trade when accelerating:
Blue = Long trend
Bright Blue = Long trend, accelerating
Purple = Short trend
Bright Purple = Short trend, accelerating
Change from bright to dark color = ADX's bounce, the first signal to exit the trade.
Nor coloured background = no trend.
Use other indicators to confirm your trades.
Not recommended for color blind people :)
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Indicador que muda a cor do fundo de acordo com a tendencia.
É baseado na maneira que Didi Aguiar lê o DMI e o ADX .
Lê-se assim:
Fundo azul = Tendencia de compra
Fundo roxo = Tendencia de venda
Cor mais saturada (vibrante) = Tendencia acelerante
Passou de cor mais clara para mais escura = Kick do ADX
Sem coloração de fundo = Sem tendencia
Não é indicado para pessoas que sofrem de daltonismo.
ADX_TSI_Bol Band Trend ChaserThe idea of this script is to be a low risk strategy on trending stocks (or any other trending market), aiming to achieve minimal draw down (e.g. at time of writing AAPL only had ~1.36% draw down, FB ~1.93% draw down and the SPY was 0.80% draw down and all remained profitable).
Testing proved it shouldn't be used in choppy stocks and best period was on daily charts. The back test filter goes back until 2010 so you can obtain 10 years of data.
The strategy utilizes the 200 Moving Average, a Custom Bollinger Band, a TSI with 52 period weighted moving average and ADX strength.
Although back test dates are set to 2010 - 2020, all other filters (moving average, ADX, TSI , Bollinger Band) are not locked so they can be user amended if desired. However the current settings have been tested with manual trading for quite some time to get this combination correct.
Buy signal is given when trading above the 200 moving average + 5 candles have closed above the upper custom Bollinger + the TSI is positive + ADX is above 20.
As back testing proved that this traded better only in tends then some Sell/Short conditions have been removed from the script and this only takes Long orders.
Only requires 2 additional lines of code to add shorting order and then remove the "buy" condition and this could be used for a downward trending stock instead.
Close for either long or short trades is signaled once the TSI crosses in the opposite direction indicating change in trend strength.
Further optimization could be achieved by adding a stop loss, which I may do in the future.
NOTE: This only shows the lower indicators however for visualization you can use my script "CUSTOM BOLLINGER WITH SMA", which is the upper indicators in this strategy.
This is my first attempt at coding a strategy so I'm happy to receive any feedback or hints on how this could be written better from any experienced coders!
NASDAQ:AAPL AMEX:SPY
RSI and A/D StrengthThis is an edit of Chris Moody's EMA of RSI script see the original here:
The edited version has an accumulation distribution line as well as well as two SMAs
If you want a detailed look at how I use ADX and DI along with it to enter/exit please see the following video and article
youtu.be
bitcointradingtoday.com
Triple Sync StrategyThe Triple Sync Strategy is a comprehensive technical analysis tool designed to combine three powerful indicators: the ADX (Average Directional Index), Stochastic RSI, and CCI (Commodity Channel Index). By synthesizing these indicators into a single line, referred to as the Snake Line, this strategy identifies strong market trends and potential reversal points with high accuracy.
Key Features:
ADX helps measure the strength of a trend, ensuring that trades are executed in trending conditions.
Stochastic RSI smoothens the RSI values to detect overbought and oversold conditions, offering entry and exit signals.
CCI highlights price deviation from the average, providing insights into potential trend changes.
Dynamic Levels automatically adjust to market conditions, with overbought and oversold levels plotted as entry and exit zones.
Entry Signals: The strategy generates buy (long) and sell (short) signals when the Snake Line crosses the defined upper or lower levels.
Performance Optimization: Designed to filter noise and focus on high-probability trade opportunities by combining multiple indicators for a holistic view of the market.
This strategy is ideal for traders looking to identify trend reversals, capitalize on strong market moves, and avoid choppy or sideways price action. With dynamic levels and multiple confirmation points, the Triple Sync Strategy aims to improve trade accuracy and enhance overall trading performance.
Triple Sync StrategyThe Triple Sync Strategy is a comprehensive technical analysis tool designed to combine three powerful indicators: the ADX (Average Directional Index), Stochastic RSI, and CCI (Commodity Channel Index). By synthesizing these indicators into a single line, referred to as the Snake Line, this strategy identifies strong market trends and potential reversal points with high accuracy.
Key Features:
ADX helps measure the strength of a trend, ensuring that trades are executed in trending conditions.
Stochastic RSI smoothens the RSI values to detect overbought and oversold conditions, offering entry and exit signals.
CCI highlights price deviation from the average, providing insights into potential trend changes.
Dynamic Levels automatically adjust to market conditions, with overbought and oversold levels plotted as entry and exit zones.
Entry Signals: The strategy generates buy (long) and sell (short) signals when the Snake Line crosses the defined upper or lower levels.
Performance Optimization: Designed to filter noise and focus on high-probability trade opportunities by combining multiple indicators for a holistic view of the market.
This strategy is ideal for traders looking to identify trend reversals, capitalize on strong market moves, and avoid choppy or sideways price action. With dynamic levels and multiple confirmation points, the Triple Sync Strategy aims to improve trade accuracy and enhance overall trading performance.
Atr Target TP & Protecion Zone [Pinescriptlabs]This indicator provides an adaptive trailing stop system with dynamic price targets and protection zones, ideal for position management.
Main Features:
🚦 ADAPTIVE TRAILING STOP:
Automatically adjusts based on volatility (ATR) and volume
Two modes: "Modified" and "UnModified" for true range calculation
Displayed as a line with colored background (green for longs, red for shorts)
🎯 TARGET ZONES (T1 & T2):
Calculates two target zones (T1 and T2) based on:
Market strength (combination of RSI, volume, MFI, ADX, MACD)
Current volatility (ATR)
Distance from current price
Visualized with blue boxes (T1) and purple boxes (T2)
🛡️ PROTECTION ZONE:
Automatically activates in sideways markets
Provides an additional buffer to the trailing stop
Helps avoid premature exits in volatile markets
📊 INFORMATION PANELS:
Top Right Panel displays:
Current trend direction
Target status (T1 & T2)
Market strength
Current ATR
RSI level
Bottom Right Panel displays:
Trailing status (WIDE/NORMAL)
Volume impact
Directional strength
Protection zone status
Español:
Este indicador proporciona un sistema de trailing stop adaptativo con objetivos de precio dinámicos y zonas de protección, ideal para la gestión de posiciones.
**Características Principales**:
🚦 **TRAILING STOP ADAPTATIVO**:
- Se ajusta automáticamente según la volatilidad (ATR) y el volumen
- Dos modos: "Modified" y "UnModified" para el cálculo del rango verdadero
- Se visualiza como una línea con fondo coloreado (verde para largos, rojo para cortos)
🎯 **ZONAS OBJETIVO (T1 y T2)**:
- Calcula dos zonas objetivo (T1 y T2) basadas en:
- Fuerza del mercado (combinación de RSI, volumen, MFI, ADX, MACD)
- Volatilidad actual (ATR)
- Distancia al precio actual
- Visualización mediante cajas azules (T1) y moradas (T2)
🛡️ **ZONA DE PROTECCIÓN**:
- Se activa automáticamente en mercados laterales
- Proporciona un buffer adicional al trailing stop
- Ayuda a evitar salidas prematuras en mercados volátiles
📊 **PANELES INFORMATIVOS**:
*Panel Superior Derecho* muestra:
- Dirección de la tendencia actual
- Estado de los objetivos (T1 y T2)
- Fuerza del mercado
- ATR actual
- Nivel de RSI
*Panel Inferior Derecho* muestra:
- Estado del trailing (WIDE/NORMAL)
- Impacto del volumen
- Fuerza direccional
- Estado de la zona de protección
[3Commas] Signal BuilderSignal Builder is a tool designed to help traders create custom buy and sell signals by combining multiple technical indicators. Its flexibility allows traders to set conditions based on their specific strategy, whether they’re into scalping, swing trading, or long-term investing. Additionally, its integration with 3Commas bots makes it a powerful choice for those looking to automate their trades, though it’s also ideal for traders who prefer receiving alerts and making manual decisions.
🔵 How does Signal Builder work?
Signal Builder allows users to define custom conditions using popular technical indicators, which, when met, generate clear buy or sell signals. These signals can be used to trigger TradingView alerts, ensuring that you never miss a market opportunity. Additionally, all conditions are evaluated using "AND" logic, meaning signals are only activated when all user-defined conditions are met. This increases precision and helps avoid false signals.
🔵 Available indicators and recommended settings:
Signal Builder provides access to a wide range of technical indicators, each customizable to popular settings that maximize effectiveness:
RSI (Relative Strength Index): An oscillator that measures the relative strength of price over a specific period. Traders typically configure it with 14 periods, using levels of 30 (oversold) and 70 (overbought) to identify potential reversals.
MACD (Moving Average Convergence Divergence): A key indicator tracking the crossover between two moving averages. Common settings include 12 and 26 periods for the moving averages, with a 9-period signal line to detect trend changes.
Ultimate Oscillator: Combines three different time frames to offer a comprehensive view of buying and selling pressure. Popular settings are 7, 14, and 28 periods.
Bollinger Bands %B: Provides insight into where the price is relative to its upper and lower bands. Standard settings include a 20-period moving average and a standard deviation of 2.
ADX (Average Directional Index): Measures the strength of a trend. Values above 25 typically indicate a strong trend, while values below suggest weak or sideways movement.
Stochastic Oscillator: A momentum indicator comparing the closing price to its range over a defined period. Popular configurations include 14 periods for %K and 3 for %D smoothing.
Parabolic SAR: Ideal for identifying trend reversals and entry/exit points. Commonly configured with a 0.02 step and a 0.2 maximum.
Money Flow Index (MFI): Similar to RSI but incorporates volume into the calculation. Standard settings use 14 periods, with levels of 20 and 80 as oversold and overbought thresholds.
Commodity Channel Index (CCI): Measures the deviation of price from its average. Traders often use a 20-period setting with levels of +100 and -100 to identify extreme overbought or oversold conditions.
Heikin Ashi Candles: These candles smooth out price fluctuations to show clearer trends. Commonly used in trend-following strategies to filter market noise.
🔵 How to use Signal Builder:
Configure indicators: Select the indicators that best fit your strategy and adjust their settings as needed. You can combine multiple indicators to define precise entry and exit conditions.
Define custom signals: Create buy or sell conditions that trigger when your selected indicators meet the criteria you’ve set. For example, configure a buy signal when RSI crosses above 30 and MACD confirms with a bullish crossover.
TradingView alerts: Set up alerts in TradingView to receive real-time notifications when the conditions you’ve defined are met, allowing you to react quickly to market opportunities without constantly monitoring charts.
Monitor with the panel: Signal Builder includes a visual panel that shows active conditions for each indicator in real time, helping you keep track of signals without manually checking each indicator.
🔵 3Commas integration:
In addition to being a valuable tool for any trader, Signal Builder is optimized to work seamlessly with 3Commas bots through Webhooks. This allows you to automate your trades based on the signals you’ve configured, ensuring that no opportunity is missed when your defined conditions are met. If you prefer automation, Signal Builder can send buy or sell signals to your 3Commas bots, enhancing your trading process and helping you manage multiple trades more efficiently.
🔵 Example of use:
Imagine you trade in volatile markets and want to trigger a sell signal when:
Stochastic Oscillator indicates overbought conditions with the %K value crossing below 80.
Bollinger Bands %B shows the price has surpassed the upper band, suggesting a potential reversal.
ADX is below 20, indicating that the trend is weak and could be about to change.
With Signal Builder , you can configure these conditions to trigger a sell signal only when all are met simultaneously. Then, you can set up a TradingView alert to notify you as soon as the signal is activated, giving you the opportunity to react quickly and adjust your strategy accordingly.
👨🏻💻💭 If this tool helps your trading strategy, don’t forget to give it a boost! Feel free to share in the comments how you're using it or if you have any questions.
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The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.
Swiss Knife [MERT]Introduction
The Swiss Knife indicator is a comprehensive trading tool designed to provide a multi-dimensional analysis of the market. By integrating a wide array of technical indicators across multiple timeframes, it offers traders a holistic view of market sentiment, momentum, and potential reversal points. This indicator is particularly useful for traders looking to combine trend analysis, momentum indicators, volume data, and price action into a single, easy-to-read format.
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Key Features
Multi-Timeframe Analysis : Evaluates indicators on Daily , 4-Hour , 1-Hour , and 15-Minute timeframes.
Comprehensive Indicator Suite : Incorporates MACD , Awesome Oscillator (AO) , Parabolic SAR , SuperTrend , DPO , RSI , Stochastic Oscillator , Bollinger Bands , Ichimoku Cloud , Chande Momentum Oscillator (CMO) , Donchian Channels , ADX , volume-based momentum indicators, Fractals , and divergence detection.
Market Sentiment Scoring : Aggregates signals from multiple indicators to provide an overall sentiment score.
Visual Aids : Displays EMA lines, trendlines, divergence signals, and a sentiment table directly on the chart.
Super Trend Reversal Signals : Identifies potential market reversal points by assessing the momentum of automated trading bots.
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Explanation of Each Indicator
Moving Average Convergence Divergence (MACD)
- Purpose : Measures the relationship between two moving averages of price.
- Interpretation : A positive histogram suggests bullish momentum; a negative histogram indicates bearish momentum.
Awesome Oscillator (AO)
- Purpose : Gauges market momentum by comparing recent market movements to historic ones.
- Interpretation : Above zero indicates bullish momentum; below zero indicates bearish momentum.
Parabolic SAR (SAR)
- Purpose : Identifies potential reversal points in price direction.
- Interpretation : Dots below price suggest an uptrend; dots above price suggest a downtrend.
SuperTrend
- Purpose : Determines the prevailing market trend.
- Interpretation : Provides buy or sell signals based on price movements relative to the SuperTrend line.
Detrended Price Oscillator (DPO)
- Purpose : Removes trend from price to identify cycles.
- Interpretation : Values above zero suggest price is above the moving average; values below zero indicate it is below.
Relative Strength Index (RSI)
- Purpose : Measures the speed and change of price movements.
- Interpretation : Values above 50 indicate bullish momentum; values below 50 indicate bearish momentum.
Stochastic Oscillator
- Purpose : Compares a particular closing price to a range of its prices over a certain period.
- Interpretation : Values above 50 indicate bullish conditions; values below 50 indicate bearish conditions.
Bollinger Bands (BB)
- Purpose : Measures market volatility and provides relative price levels.
- Interpretation : Price above the middle band suggests bullishness; below the middle band suggests bearishness.
Ichimoku Cloud
- Purpose : Provides support and resistance levels, trend direction, and momentum.
- Interpretation : Bullish signals when price is above the cloud; bearish signals when price is below the cloud.
Chande Momentum Oscillator (CMO)
- Purpose : Measures momentum on both up and down days.
- Interpretation : Values above 50 indicate strong upward momentum; values below -50 indicate strong downward momentum.
Donchian Channels
- Purpose : Identifies volatility and potential breakouts.
- Interpretation : Price above the upper band suggests bullish breakout; below the lower band suggests bearish breakout.
Average Directional Index (ADX)
- Purpose : Measures the strength of a trend.
- Interpretation : DI+ above DI- indicates bullish trend; DI- above DI+ indicates bearish trend.
Volume Momentum Indicators (VolMom, CumVolMom, POCMom)
- Purpose : Analyze volume to assess buying and selling pressure.
- Interpretation : Positive values suggest bullish volume momentum; negative values indicate bearish volume momentum.
Fractals
- Purpose : Identify potential reversal points in the market.
- Interpretation : Up fractals may indicate a future downtrend; down fractals may indicate a future uptrend.
Divergence Detection
- Purpose : Identifies divergences between price and various indicators (RSI, MACD, Stochastic, OBV, MFI, A/D Line).
- Interpretation : Bullish divergences suggest potential upward reversal; bearish divergences suggest potential downward reversal.
- Note : This functionality utilizes the library from Divergence Indicator .
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Coloring Scheme
Background Color
- Purpose : Reflects the overall market sentiment by combining sentiment scores from all indicators across different timeframes.
- Interpretation :
- Green Shades : Indicate bullish market sentiment.
- Red Shades : Indicate bearish market sentiment.
- Intensity : The strength of the color corresponds to the strength of the sentiment score.
Sentiment Table
- Purpose : Displays the status of each indicator across different timeframes.
- Interpretation :
- Green Cell : The indicator suggests a bullish signal.
- Red Cell : The indicator suggests a bearish signal.
- Percentage Score : Indicates the overall bullish or bearish sentiment on that timeframe.
Exponential Moving Averages (EMAs)
- Purpose : Provide dynamic support and resistance levels.
- Colors :
- EMA 10 : Lime
- EMA 20 : Yellow
- EMA 50 : Orange
- EMA 100 : Red
- EMA 200 : Purple
Trendlines
- Purpose : Visual representation of support and resistance levels based on pivot points.
- Interpretation :
- Upward Trendlines : Colored green , indicating support levels.
- Downward Trendlines : Colored red , indicating resistance levels.
- Note : Trendlines are drawn using the library from Simple Trendlines .
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Utility of Market Sentiment
The indicator aggregates signals from multiple technical indicators across various timeframes to compute an overall market sentiment score . This comprehensive approach helps traders understand the prevailing market conditions by:
Confirming Trends : Multiple indicators pointing in the same direction can confirm the strength of a trend.
Identifying Reversals : Divergences and fractals can signal potential turning points.
Timeframe Alignment : Aligning signals across different timeframes can enhance the probability of successful trades.
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Divergences
Divergence occurs when the price of an asset moves in the opposite direction of a technical indicator, suggesting a potential reversal.
- Bullish Divergence : Price makes a lower low, but the indicator makes a higher low.
- Bearish Divergence : Price makes a higher high, but the indicator makes a lower high.
The indicator detects divergences for:
RSI
MACD
Stochastic Oscillator
On-Balance Volume (OBV)
Money Flow Index (MFI)
Accumulation/Distribution Line (A/D Line)
By identifying these divergences, traders can spot early signs of trend reversals and adjust their strategies accordingly.
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Trendlines
Trendlines are essential tools for identifying support and resistance levels. The indicator automatically draws trendlines based on pivot points:
- Upward Trendlines (Support) : Connect higher lows, indicating an uptrend.
- Downward Trendlines (Resistance) : Connect lower highs, indicating a downtrend.
These trendlines help traders visualize the trend direction and potential breakout or reversal points.
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Super Trend Reversals (ST Reversal)
The core idea behind the Super Trend Reversals indicator is to assess the momentum of automated trading bots (often referred to as 'Supertrend bots') that enter the market during critical turning points. Specifically, the indicator is tuned to identify when the market is nearing bottoms or peaks, just before it shifts direction based on the triggered Supertrend signals. This approach helps traders:
Engage Early : Enter the market as reversal momentum builds up.
Optimize Entries and Exits : Enter under favorable conditions and exit before momentum wanes.
By capturing these reversal points, traders can enhance their trading performance.
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Conclusion
The Swiss Knife indicator serves as a versatile tool that combines multiple technical analysis methods into a single, comprehensive indicator. By assessing various aspects of the market—including trend direction, momentum, volume, and price action—it provides traders with valuable insights to make informed trading decisions.
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Citations
- Divergence Detection Library : Divergence Indicator by DevLucem
- Trendline Drawing Library : Simple Trendlines by HoanGhetti
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Note : This indicator is intended for informational purposes and should be used in conjunction with other analysis techniques. Always perform due diligence before making trading decisions.
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Mystic Pulse [CHE]Mystic Pulse - A Non-Lagging Trend Indicator
Introduction
In the world of trading, identifying trends accurately and timely is crucial for successful decision-making. The saying "The Trend is Your Friend" encapsulates this principle, emphasizing the importance of riding the prevailing market trend. The Mystic Pulse indicator is designed to help traders do exactly that—detect trends early and follow them with confidence.
This presentation will walk you through how the Mystic Pulse indicator functions, its advantages, and how it can be a powerful tool in your trading arsenal.
Key Features of Mystic Pulse
Non-Lagging Signals: Unlike traditional indicators that often lag the market, Mystic Pulse generates trend signals in real-time, ensuring you are always in sync with the current market direction.
Adaptive Smoothing: The indicator employs a smoothing factor that dynamically adjusts based on recent price action, reducing noise and focusing on significant market movements.
Directional Movement Analysis: By calculating the directional movement index (DI+ and DI-) with a unique smoothing approach, the indicator identifies whether bulls or bears are in control.
Trend Counting Logic: The indicator counts consecutive positive and negative trend signals, providing a clear visual representation of the market’s direction.
Customizable Candle Colors: For better visual clarity, the indicator allows for customization of candle colors, highlighting neutral, bullish, or bearish candles based on trend strength.
Understanding the Indicator
1. Directional Movement and ADX Calculation
The Mystic Pulse uses a modified ADX calculation known as ZLAG ADX. It assesses true range, directional movement (both positive and negative), and smoothes these values over a specified length. This helps in capturing the essence of market trends without lag:
True Range (TR): Measures market volatility by comparing the high-low range to the previous close.
Directional Movement: Determines whether bulls (DI+) or bears (DI-) are gaining strength.
These components are then smoothed using a custom formula that adapts to recent price movements, ensuring that the signals remain relevant and timely.
2. Trend Counting Mechanism
The heart of Mystic Pulse is its trend counting logic:
Positive Trend Count: Increases when DI+ shows strengthening bullish signals.
Negative Trend Count: Increases when DI- indicates stronger bearish control.
Total Trend Count: Reflects the dominant trend by comparing positive and negative counts.
This counting mechanism ensures that the indicator is always aware of the current market bias, updating in real-time.
3. Visualization and Signal Generation
The indicator provides visual cues through color-coded plots:
Green Plot: Indicates an ongoing uptrend (positive trend count is higher).
Red Plot: Signals a downtrend (negative trend count is higher).
Neutral Candles: Optionally highlighted when neither bulls nor bears dominate, offering a clearer view of indecisive market conditions.
Application and Strategy
The Mystic Pulse indicator is ideal for traders who prefer trend-following strategies. Here's how you can apply it effectively:
Entry Points: Enter trades when the trend count strongly favors one direction, indicated by consecutive green (bullish) or red (bearish) plots.
Exit Points: Consider exiting when the opposite trend starts to gain traction, signaled by a change in the dominant color.
Risk Management: Use the neutral candle display to avoid trades in uncertain market conditions, thereby reducing risk.
Conclusion
The Mystic Pulse indicator is a sophisticated tool that helps traders stay aligned with market trends, offering non-lagging, adaptive signals. Its design reflects the trading philosophy "The Trend is Your Friend," enabling you to follow the market's lead with confidence.
By incorporating this indicator into your trading strategy, you can enhance your ability to identify and capitalize on emerging trends, minimizing lag and maximizing potential returns.
Q&A
If you have any questions or would like to see a live demonstration of the Mystic Pulse in action, feel free to ask.
Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (CHE) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Best regards Chervolino
