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DB369 - Directional Bias 369 DB369 - Directional Bias 369 Indicator The **DB369** indicator helps traders identify key market levels and trends by combining multiple timeframes' price action analysis. It highlights important **pivot points** on the chart and provides visual cues to help you make more informed buy and sell decisions based on the overall market direction. Key Features 1. Pivot Points Across Multiple Timeframes**: - The indicator calculates and displays pivot points for the **Monthly**, **Weekly**, **Daily**, **4-Hour**, and **1-Hour** timeframes (or 30-minute equivalent if desired). These pivots represent significant price levels where the market may retest. 2. **Trend Detection**: - The indicator evaluates the relationship between the current price and the pivot point for each timeframe. Based on this comparison, it classifies the market as **Bullish**, **Bearish**, or **Neutral** on each timeframe. 3. **Pivot Lines**: - Horizontal lines are drawn to mark the key pivot points for each selected timeframe. These lines extend into the future and adjust dynamically as the market moves in real time. - **Customizable**: You can choose which timeframes to display pivot points by enabling/disabling them in the settings. 4. **Trend Table**: - A **table** is displayed at the top-right of the chart to show the trend for the **Daily**, **4-Hour**, and **30-Minute** timeframes. It provides an easy-to-read view of the trend direction across these timeframes. 5. **Buy/Sell Arrows**: - **Buy Arrow**: A green arrow will appear when the **Daily**, **4-Hour**, and **30-Minute** trends are all **Bullish** (aligned in the same direction). - **Sell Arrow**: A red arrow will appear when all three timeframes show a **Bearish** trend. - These arrows appear only once per alignment change and can be enabled or disabled for alerts. This helps avoid clutter on the chart and ensures that you only see a signal when the alignment occurs or changes. ### **How to Use the DB369 Indicator**: 1. **Pivot Points**: - The pivot points represent significant price levels where the market might retest in the future. For instance: - **Bullish Market**: If the price is above the pivot point, the market is considered bullish. - **Bearish Market**: If the price is below the pivot point, the market is considered bearish. - **Neutral Market**: When the price is near the pivot point, the market is neither strongly bullish nor bearish. 2. **Trend Alignment**: - When the **Daily**, **4-Hour**, and **30-Minute** timeframes all show the same trend direction (either **Bullish** or **Bearish**), this alignment signifies a stronger trend. - You will receive a **Buy Arrow** when all three timeframes are aligned bullish, and a **Sell Arrow** when they are aligned bearish. - These arrows are displayed at the point when the alignment is first detected and can also trigger **alerts**. 3. **Alerts**: - You can choose to enable alerts for when a **Buy** or **Sell** arrow appears on the chart. This allows you to be notified in real-time when the alignment conditions are met. 4. **Using the Pivot Points for Entry**: - **Buy Trade**: Look for a buy trade when the price is near the **pivot line** of the higher timeframes, particularly when the trend across all three timeframes is **Bullish**. - **Sell Trade**: Similarly, look for a sell trade when the price is near a **pivot line** and the trend is **Bearish**. 5. **Customization**: - You can customize which timeframes' pivots are shown on the chart by toggling the visibility of the **Monthly**, **Weekly**, **Daily**, **4-Hour**, and **1-Hour** pivots in the settings. - The indicator automatically adjusts the pivot levels in real-time as the market progresses. **Important Notes**: - This indicator does not guarantee successful trades; it is intended to assist in identifying potential trade opportunities based on the alignment of higher timeframe trends. - Always combine the information from the DB369 indicator with other technical analysis tools and risk management strategies to ensure more accurate trade decisions.
Indikator Pine Script®
oleh Niko-picasso369
5
Correlation Confluence Trend IndicatorCorrelation Confluence Trend Indicator Overview The Correlation Confluence Trend Indicator combines exponential moving averages (EMAs) and statistical correlation measures to identify high-confidence trend alignments between an asset and a benchmark. By filtering signals through correlation strength, this indicator highlights opportunities when the asset and benchmark move together. In other words, it defines a trend and then uses correlation strength and the trend of a second asset to identify high-confidence trends. Key Features Dual EMA Trend Analysis : Calculates fast and slow EMAs for both the asset and the selected benchmark (e.g., SPY) to identify bullish and bearish trends. Correlation Strength Filtering : Evaluates correlation between the asset and benchmark, identifying stronger-than-average relationships based on the mean and standard deviation. Background Color Coding : - Green : Strong correlation, both asset and benchmark bullish. - Aqua : Weak correlation, both asset and benchmark bullish. - Red : Strong correlation, both asset and benchmark bearish. - Fuchsia : Weak correlation, both asset and benchmark bearish. - Orange : Strong correlation, benchmark bullish, asset bearish. - Yellow : Weak correlation, benchmark bullish, asset bearish. - Purple : Strong correlation, benchmark bearish, asset bullish. - Lime : Weak correlation, benchmark bearish, asset bullish. Visual Trend Indicators : Plots fast and slow EMAs for the asset, dynamically colored based on aggregate trend signals. The color of this corresponds to the main trend signal. Inputs Benchmark Symbol : Symbol of the benchmark asset to compare against. Fast EMA Length : Period for the fast EMA calculation. Slow EMA Length : Period for the slow EMA calculation. Correlation Length : Number of bars for correlation calculation. Correlation Mean Length : Number of bars for mean and standard deviation calculation. Std Dev Multiplier : Multiplier for standard deviation to define correlation strength. When the correlation is Std Dev Multiplier standard deviations above the mean, it counts as a strong correlation. Set Background Color : Toggle background coloring on or off. Notes This indicator is primarily designed for trend-following strategies. By combining trend analysis and correlation filtering, it ensures that signals occur during aligned market conditions, reducing false signals. Before incorporating this indicator into your trading strategy: Always backtest on historical data to evaluate its performance before committing capital. Use proper risk management to control position sizes and mitigate potential losses. Remember that no indicator guarantees success. I'm quite proud of this one, but it's not the holy grail.
Indikator Pine Script®
oleh nathanfarmer
Arshtiq - Multi-Timeframe Trend StrategyMulti-Timeframe Setup: The script uses two distinct timeframes: a higher (daily) timeframe for identifying the trend and a lower (hourly) timeframe for making trades. This combination allows the script to follow the larger trend while timing entries and exits with more precision on a shorter timeframe. Moving Averages Calculation: higher_ma: The 20-period Simple Moving Average (SMA) calculated based on the daily timeframe. This average gives a sense of the larger trend direction. lower_ma: The 20-period SMA calculated on the hourly (current) timeframe, providing a dynamic level for detecting entry and exit points within the broader trend. Trend Identification: Bullish Trend: The script determines that a bullish trend is present if the current price is above the daily moving average (higher_ma). Bearish Trend: Similarly, a bearish trend is identified when the current price is below this daily moving average. Trade Signals: Buy Signal: A buy signal is generated when the price on the hourly chart crosses above the hourly 20-period MA, but only if the higher (daily) timeframe trend is bullish. This ensures that buy trades align with the larger upward trend. Sell Signal: A sell signal is generated when the price on the hourly chart crosses below the hourly 20-period MA, but only if the daily trend is bearish. This ensures that sell trades are consistent with the broader downtrend. Plotting and Visual Cues: Higher Timeframe MA: The daily 20-period moving average is plotted in red to help visualize the long-term trend. Buy and Sell Signals: Buy signals appear as green labels below the price bars with the text "BUY," while sell signals appear as red labels above the bars with the text "SELL." Background Coloring: The background changes color based on the identified trend for easier trend recognition: Green (with transparency) when the daily trend is bullish. Red (with transparency) when the daily trend is bearish.
Indikator Pine Script®
oleh aalammulla23
Confirmed market structure buy/sell indicatorOverview The Swing Point Breakout Indicator with Multi-Timeframe Dashboard is a TradingView tool designed to identify potential buy and sell signals based on swing point breakouts on the primary chart's timeframe while simultaneously providing a snapshot of the market structure across multiple higher timeframes. This dual approach helps traders make informed decisions by aligning short-term signals with broader market trends. Key Features Swing Point Breakout Detection Swing Highs and Lows: Identifies significant peaks and troughs based on a user-defined lookback period. Breakout Signals: Bullish Breakout (Buy Signal): Triggered when the price closes above the latest swing high. Bearish Breakout (Sell Signal): Triggered when the price closes below the latest swing low. Visual Indicators: Highlights breakout bars with colors (lime for bullish, red for bearish) and plots buy/sell markers on the chart. Multi-Timeframe Dashboard Timeframes Monitored: 1m, 5m, 15m, 1h, 4h, 1D, and 1W. Market Structure Status: Bullish: Indicates upward market structure. Bearish: Indicates downward market structure. Neutral: No clear trend. Visual Table: Displays each timeframe with its current status, color-coded for quick reference (green for bullish, red for bearish, gray for neutral). Operational Workflow Initialization: Sets up a dashboard table on the chart's top-right corner with headers "Timeframe" and "Status". Swing Point Detection: Continuously scans the main timeframe for swing highs and lows using the specified lookback period. Updates the latest swing high and low levels. Signal Generation: Detects when the price breaks above the last swing high (bullish) or below the last swing low (bearish). Activates potential buy/sell setups and confirms signals based on subsequent price movements. Dashboard Update: For each defined higher timeframe, assesses the market structure by checking for breakouts of swing points. Updates the dashboard with the current status for each timeframe, aiding in trend confirmation. Visualization: Colors the bars where breakouts occur. Plots buy and sell signals directly on the chart for easy identification.
Indikator Pine Script®
oleh undacovacobra
3
Average Up and Down Candles Streak with Predicted Next CandleThis indicator is designed to analyze price trends by examining the patterns of up and down streaks (consecutive bullish or bearish candles) over a defined period. It uses this data to provide insights on whether the next candle is likely to be bullish or bearish, and it visually displays relevant information on the chart. Here’s a breakdown of what the indicator does: 1. Inputs and Parameters Period (Candles): Defines the number of candles used to calculate the average length of bullish and bearish streaks. For example, if the period is set to 20, the indicator will analyze the past 20 candles to determine average up and down streak lengths. Bullish/Bearish Bias Signal Toggle: These options allow users to show or hide visual signals (green or red circles) when there’s a bullish or bearish bias in the trend based on the indicator’s calculations. 2. Streak Calculation The indicator looks at each candle within the period to identify if it closed up (bullish) or down (bearish). Up Streak: The indicator counts consecutive bullish candles. When there’s a bearish candle, it resets the up streak count. Down Streak: Similarly, it counts consecutive bearish candles and resets when a bullish candle appears. Averages: Over the defined period, the indicator calculates the average length of up streaks and average length of down streaks. This provides a baseline to assess whether the current streak is typical or extended. 3. Current and Average Streak Display The indicator displays the current up and down streak lengths alongside the average streak lengths for comparison. This data appears in a table on the chart, allowing you to see at a glance: The current streak length (for both up and down trends) The average streak length for up and down trends over the chosen period 4. Trend Prediction for the Next Candle Next Candle Prediction: Based on the current streak and its comparison to the average, the indicator predicts the likely direction of the next candle: Bullish: If the current up streak is shorter than the average up streak, suggesting that the bullish trend could continue. Bearish: If the current down streak is shorter than the average down streak, indicating that the bearish trend may continue. Neutral: If the current streak length is near the average, which could signal an upcoming reversal. This prediction appears in a table on the chart, labeled as “Next Candle.” 5. Previous Candle Analysis The Previous Candle entry in the table reflects the last completed candle (directly before the current candle) to show whether it was bullish, bearish, or neutral. This data gives a reference point for recent price action and helps validate the next candle prediction. 6. Visual Signals and Reversal Zones Bullish/Bearish Bias Signals: The indicator can plot green circles on bullish bias and red circles on bearish bias to highlight points where the trend is likely to continue. Reversal Zones: If the current streak length reaches or exceeds the average, it suggests the trend may be overextended, indicating a potential reversal zone. The indicator highlights these zones with shaded backgrounds (green for possible bullish reversal, red for bearish) on the chart. Summary of What You See on the Chart Bullish and Bearish Bias Signals: Green or red circles mark areas of expected continuation in the trend. Reversal Zones: Shaded areas in red or green suggest that the trend might be about to reverse. Tables: The Next Candle prediction table displays the trend direction of the previous candle and the likely trend of the next candle. The Streak Information table shows the current up and down streak lengths, along with their averages for easy comparison. Practical Use This indicator is helpful for traders aiming to understand trend momentum and potential reversals based on historical patterns. It’s particularly useful for swing trading, where knowing the typical length of bullish or bearish trends can help in timing entries and exits.
Indikator Pine Script®
oleh PickthePath
1
Cumulative Buying and Selling Volume with 3 Lookback PeriodsScript Overview: This script is designed to help traders identify market momentum by analyzing buying and selling volume. It calculates the cumulative buying and selling pressure over three different lookback periods, providing insights into whether the bulls or bears are dominating at any given time. The script does this by computing the cumulative buying and selling volume for each period and comparing them through exponential moving averages (EMA) to smooth out short-term fluctuations. Purpose and Use: The primary goal of this script is to highlight shifts in market sentiment based on volume dynamics. Volume is a critical component in market analysis, often signaling the strength behind price movements. By focusing on cumulative buying and selling pressure, the script gives traders an idea of whether the market is trending towards more buying or selling during specific periods. Traders can use this tool to: Identify potential entry points when buying pressure is strong. Recognize potential selling opportunities when selling pressure is increasing. Detect periods of indecision when neither buying nor selling dominates. Key Concepts: 1. Buying Volume (BV): The buying volume is calculated based on the price range of each candle. It represents the volume allocated to the bullish side of the market: When the close is near the high, the buying volume is higher. Formula: BV = volume * (close - low) / (high - low). 2. Selling Volume (SV): Similarly, selling volume is derived based on the position of the close relative to the low: When the close is near the low, selling volume is higher. Formula: SV = volume * (high - close) / (high - low) 3. Lookback Periods: The script allows users to define three different lookback periods (5, 10, and 20 by default). These periods smooth out the cumulative buying and selling volumes using EMA calculations: Shorter periods capture more immediate changes in volume dynamics. Longer periods provide a broader perspective on market trends. 4. Cumulative Volume Calculation: For each lookback period, cumulative buying and selling volumes are tracked separately and then smoothed with EMA: emaBuyVol and emaSellVol are the smoothed values for buying and selling volumes over the lookback periods. 5. Market Pressure Comparison: Buying Pressure: If the EMA of buying volume is greater than the EMA of selling volume for a particular lookback period, the script considers that buying pressure dominates for that period. Selling Pressure: Conversely, if selling volume dominates over buying volume for a period, the script registers selling pressure. 6. Overall Market Pressure: The script aggregates the buying and selling pressures from the three lookback periods to determine the overall market sentiment: If the majority of periods show buying pressure, the market is bullish. If the majority show selling pressure, the market is bearish. If neither side dominates, it suggests a neutral or indecisive market. Visual Cues: The script provides visual feedback to help traders quickly interpret the market pressure: Background Color: Green (#2bff00) when buying pressure dominates. Red (#ff0000) when selling pressure dominates. Gray (#404040) when there is no clear dominance. Bar Color: The script also colors the price bars based on the dominant market pressure: Green for buying pressure. Red for selling pressure. Gray for neutral or balanced market pressure. Reset Mechanism: At the start of each new candle, the cumulative volumes for all three periods are reset to zero. This ensures that the cumulative volumes are only measured for the current candle, preventing carryover from previous periods that could distort the analysis. How Traders Can Use This Script: Trend Confirmation: Traders can use the script as a trend confirmation tool. When the background turns green (buying dominance), it suggests bullish momentum. When red, bearish momentum is likely. This information can be used to confirm existing positions or signal new trades in the direction of the market pressure. Reversal Detection: A sudden shift in the background color (from green to red or vice versa) can indicate a potential reversal. This can be particularly useful when combined with other technical indicators such as price action or support/resistance levels. Multiple Timeframes: Since the script supports three different lookback periods, it provides a comprehensive view of market pressure across short-term, medium-term, and long-term perspectives. Traders can tailor the lookback periods based on their preferred timeframe to match their trading style, whether it’s intraday trading or longer-term swing trading. Risk Management: The script's clear visual cues help traders manage risk by highlighting when selling pressure increases, allowing them to consider reducing long positions or tightening stop-losses.
Indikator Pine Script®
oleh HabibiBudo
Engulfing Candles Alert - Multi Symbol (Miu)This indicator plots triangle shapes on each engulfing candles (bullish or bearish) on current chart. The main use for this indication is to set alerts on multiple symbols at once. Please follow steps below to set your alarms: 1) Add indicator to the chart 2) Go to settings 3) Check symbols you want to receive alerts (choose up to 8 different symbols) 4) Check if you want only bullish or bearish alerts or both 5) Once all is set go back to the chart and click on 3 dots to set alert in this indicator, rename your alert and confirm 6) You can remove indicator after alert is set and it'll keep working as expected What does this indicator do? This indicator will generate alerts anytime a candle closes and reaches bullish or bearish engulfing condition for any of symbol set. Alert messages example: "Bullish alert on {Symbol}" This script requests open and close information for each symbol through request.security() built-in function. Detailed indicator description: If current bar open is less than or equal to the previous bar close AND current bar open is less than previous bar open AND current bar close is greater than previous bar open THEN True bullishEngulfing = (openBarCurrent <= closeBarPrevious) and (openBarCurrent < openBarPrevious) and (closeBarCurrent > openBarPrevious) The opposite condition will be bearishEngulfing Feel free to give feedbacks on comments section below. Enhancement suggestions are welcome =). Enjoy!
Indikator Pine Script®
oleh fabianomiu
7
ADX Trend Strength Analyzer█  OVERVIEW This script implements the Average Directional Index (ADX), a powerful tool used to measure the strength of market trends. It works alongside the Directional Movement Index (DMI), which breaks down the directional market pressure into bullish (+DI) and bearish (-DI) components. The purpose of the ADX is to indicate when the market is in a strong trend, without specifying the direction. This indicator can be especially useful for identifying market trends early and validating trading strategies based on trend-following systems. The ADX component in this script is based on two key parameters: ADX Smoothing Length (adxlen), which determines the degree of smoothing for the trend strength. DI Length (dilen), which defines the look-back period for calculating the directional index values. Additionally, a horizontal line is plotted at the 30 level, providing a widely used threshold that signifies when a trend is considered strong (above 30). █  CONCEPTS Directional Movement (DM): The core idea behind this indicator is the calculation of price movement in terms of bullish and bearish forces. By evaluating the change in highs and lows, the script distinguishes between bullish movement (+DM) and bearish movement (-DM). These values are normalized by dividing them by the True Range (TR), creating the +DI and -DI values. True Range (TR): The True Range is calculated using the Average True Range (ATR) formula, and it serves to smooth out volatility, ensuring that short-term fluctuations don't distort the long-term trend signal. ADX Calculation: The ADX is derived from the absolute difference between the +DI and -DI. By smoothing this difference and normalizing it, the ADX is able to measure the overall strength of the trend without regard to whether the market is moving up or down. A rising ADX indicates increasing trend strength, while a falling ADX signals weakening trends. █  METHODOLOGY Directional Movement Calculation: The script first determines the upward and downward price movement by comparing changes in the high and low prices. If the upward movement is greater than the downward movement, it registers a bullish signal and vice versa for bearish movement. True Range Adjustment: The script then applies a smoothing function to normalize these movements by dividing them by the True Range (ATR). This ensures that the trend signal is based on relative, rather than absolute, price movements. ADX Signal Generation: The final step is to calculate the ADX by applying the Relative Moving Average (RMA) to the difference between +DI and -DI. This produces the ADX value, which is plotted in red, making it easy to visualize shifts in market momentum. Threshold Line: A blue horizontal line is plotted at 30, which serves as a key reference point. When the ADX is above this line, it indicates a strong trend, whether bullish or bearish. █  HOW TO USE Trend Strength: Traders typically use the 30 level as a critical threshold. When the ADX is above 30, it signifies a strong trend, making it a favorable environment for trend-following strategies. Conversely, ADX values below 30 suggest a weak or non-trending market. +DI and -DI Relationship: The indicator also provides insight into whether the trend is bullish or bearish. When +DI is greater than -DI, the market is considered bullish. When -DI is greater than +DI, the market is considered bearish. While this script focuses on the ADX value itself, the underlying +DI and -DI help interpret the trend direction. Market Conditions: This indicator is effective in trending markets, but not ideal for choppy or sideways conditions. Traders can use it to determine the best entry and exit points when trends are strong, or to avoid trading in periods of low volatility. Combining with Other Indicators: The ADX is commonly used in conjunction with oscillators like RSI or moving averages, to confirm the trend strength and avoid false signals. █  METHOD VARIANTS This script applies the standard approach for calculating the ADX, but could be adapted with the following variants: Different Timeframes: The script could be modified to calculate ADX values across higher or lower timeframes, depending on the trader's strategy. Custom Thresholds: Instead of using the default 30 threshold, traders could adjust the horizontal line to suit their own risk tolerance or market conditions.
Indikator Pine Script®
oleh giovannibeltra
Prometheus Volatility StopThe Prometheus Volatility Stop is an indicator designed to give you a moving risk metric along with a custom Moving Average cross. After a calculation of the annualized volatility for the specified lookback period we determine bullish or bearish from the moving averages and plot the Volatility Stop accordingly. User Input: A user can select from Hull Moving Average, Exponential Moving average, Simple Moving Average, the Moving Average used in RSI, and Weighted Moving Average. The default is Hull Moving Average and Exponential Moving average. A user can also specify the lookback period. The default is 30. A user may also turn off the plots for the Moving Averages. The reason for this approach is to be more original from the traditional Volatility Stop. Calculation: The Historical Volatility is calculated by taking the standard deviation of the log returns for the specified period and then annualizing it. hv = ta.stdev(math.log(close / close ), lkb) * math.sqrt(252/5) Then the Volatility Stop is calculated as follows: recent_max = ta.highest(close, lkb) recent_min = ta.lowest(close, lkb) hv_stop = ma_2 > ma_1 ? recent_max + hv : recent_min - hv When the second selected moving average is greater than the first, which signals bearishness, the historical volatility gets added to the high of that period. When the moving averages signal bullish the historical volatility gets subtracted from the low of that period. Here is an example on NASDAQ:ARM : After the first crossover, bullish signal, price runs for some time. As we get higher and higher so does the Volatility Stop. At the highs before a bearish crossover the price hits and closes at the Volatility Stop. Providing what could be an exit from a strong run up. Intra-day example on NASDAQ:QQQ : We see that in the early bearish move price goes on to hit the Volatility Stop before the trend switches. We also see that in the failed long. The price action throughout the rest of the day, while not providing in profit stop outs, do provide fine directional alerts. All those examples have been done with the default settings. Upon changing Moving Average One to a WMA and Moving Average Two to an SMA, as well as the lookback to 75. We see this quickly can become a simple trend follower. This is the perspective we aim to provide. We encourage traders to not follow indicators blindly. No indicator is 100% accurate. This one can give you a different perspective of price strength with volatility. We encourage any comments about desired updates or criticism!
Indikator Pine Script®
oleh ScorsoneEnterprises
Change in State of Delivery (CISD) [LuxAlgo]The Change In State Of Delivery (CISD) indicator detects and displays Change in State Of Delivery, a concept related to market structures. Users can choose between two different CISD detection methods. Various filtering options are also included to filter out less significant CISDs. 🔶 USAGE A Change in State of Delivery (CISD) is a concept closely related to market structures, where price breaks a level of interest, confirming trends and their continuations from the resulting breakouts. Unlike more traditional market structures which rely on swing points, CISDs rely on a persistent sequence of candles, using the sequence extremes as breakout levels. CISDs are detected as follows: Bullish: The price closes above the opening price of the first candle in a sequence of bearish candles (or its own opening price if it's the only candle). Bearish: The price closes below the opening price of the first candle in a sequence of bullish candles (or its own opening price if it's the only candle). If a newly detected CISD aligns with the indicator's current established trend, this confirms a trend continuation (represented with a dashed line). On the other hand, if a newly detected CISD is in the opposite direction to the detected trend it can confirm a trend reversal (represented with a solid line). 🔹 Liquidity Sweep Detection Method Using Liquidity Sweeps to update CISD breakout levels allows us to obtain less frequent and more relevant levels that are less sensitive to noisy price variations. Sweeps are obtained from detected Swing Points , with a higher Swing Length allowing us to obtain longer-term swing levels and potentially more detected sweeps from a specific level over time. Note: The 'Swing Length' setting is only applicable on the Liquidity Sweep Detection Method and will only change the Liquidity levels. A Liquidity Sweep is valid when the price reaches an important liquidity level , after which the price closes below/above this level. Bullish scenario: The price goes below a previous unbroken Swing Low but closes above. Bearish scenario: The price goes above a previous unbroken Swing High but closes below. After a Liquidity Sweep has been detected, the last level of importance acts as support/resistance . Breaking this level in the other direction changes the state of delivery . Users must keep observing the price and significant levels, as highlighted by the white rectangle in the above example. 🔹 CISD Filtering Users can adjust the following two settings: Minimum CISD Duration: The minimum length of the 'CISD' line Maximum Swing Validity: The maximum length of the 'CISD' line; potential CISD lines that aren't broken are deleted when exceeding the limit. The chart can get cluttered when the Minimum CISD Duration is low. Users could focus on a switch in trend (first solid line CISD ), where the following dashed CISD lines can be seen as extra opportunities/confirmations. 🔶 DETAIL 🔹 Using Different Timeframes When an important liquidity level (Previous Swing high/low, FVG, etc.) is reached on the higher timeframe, the user can move to a lower timeframe to check whether there is a CISD . Above example: The high of the last candle breaches a liquidity level (previous Swing High). The opening price of the last candle acts as a trigger/confirmation level. A confirmed CISD is seen in a lower timeframe, just after this Liquidity Sweep. This could be an early opportunity. Later, a confirmed CISD on the higher timeframe is established. 🔶 SETTINGS Detection Method: Classic or Liquidity Sweep Swing Length: Period used for the swing detection, with higher values returning longer-term Swing Levels. Minimum CISD Duration: The minimum length of the CISD line Maximum Swing Validity: The maximum length of the CISD line; potential CISD lines that aren't broken are deleted when exceeding the limit.
Indikator Pine Script®
oleh LuxAlgo
23
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
Indikator Pine Script®
oleh chervolino
3
Follow the Volumes / Path of Least ResistanceThis indicator tracks price movements following significant volume increases. It identifies volume spikes by comparing recent average volume to a longer-term average. After a spike, it monitors price changes over a specified number of bars. In plain English, the point of this is to “let the market show it’s hand”, vs. other common and preemptive methods of execution. You can think of it as a better version of a volume up/down indicator which only uses opening and closing prices to identify "bullish" or "bearish" behavior. To optimize this, I used a very small range chart, hence the small values. You will need to experiment with other values, ESPECIALLY the % change. If you do not do this, the indicator will generate a lot of noise. The indicator has three main conditions: 1. Significant price increase, bullish: A green triangle appears below the bar. 2. Significant price decrease, bearish: A red triangle appears above the bar. 3. Price change within thresholds: A fuschia triangle appears, pointing up or down based on the overall (short-term) trend. This is common behavior during trends. A spike in volume will appear, and price simply does not budge. Volume/price is essentially declaring a new found value, in which case prices tend to follow the impulse movement (see market profile theory). The color scheme is intuitive: green for positive moves, red for negative, and fuschia for subtle changes following the existing trend. Blue circles mark volume spikes for reference, which I recommend using only for reference, and disabling to remove unneeded noise. Because this indicator "lags" in the sense of waiting for the market to show its hand, best opportunities are typically found on retests of the volume spikes themselves. On drives, however, the market will unlikely pullback, which (in my view) is one of its best use cases. Bottom line, you will need to adjust the parameters to the instrument. This is not a plug and play solution, but far more accurate than those which are. Settings, and what they mean: Volume spike average bars: length for identification of high volumes. On smaller timeframes, such as my optimization period, you’ll want several bars. But on something such as a 5 minute or higher, only 1. Lookback period: for identification of high volumes. Volume Increase Threshold (%): % which constitutes a jump in volume Bars After Spike: How long to wait for ensuing price movement. Also sensitive to the timeframe you are using. 1-2 recommended for 5m+, more for smaller range-based. Negative Price Change Threshold (%): For red arrows (Volume + Price Movement) Positive Price Change Threshold (%): Inverse of above WMA Period for Stability Function: When price spikes on high volumes but does not move (price is “trapped” between negative and positive price change thresholds) the indicator marks direction (in fuchsia) in the direction of the underlying trend. This short-term MA identifies that trend. Finally, because this indicator is volume-based, I recommend using primary instruments only and discourage its use on CFDs or other firm-generated instruments. Just use the primary. I would ignore signals off the open, which is subject to erroneous behavior. Other methods are far more effective for that. This script is purposely uncomplicated. Feel free to play with settings and change code to suit your needs.
Indikator Pine Script®
oleh pcurve
Special Engulfing BarsExplanation of the Code: Bullish Engulfing: low <= low : The low of the current candle is lower than or equal to the low of the previous candle. close >= close : The close of the current candle is higher than or equal to the close of the previous candle. close > open: The current candle is bullish. open > close : The previous candle is bearish. Bearish Engulfing: high >= high : The high of the current candle is higher than or equal to the high of the previous candle. close <= close : The close of the current candle is lower than or equal to the close of the previous candle. close < open: The current candle is bearish. open < close : The previous candle is bullish. Plot shape : Displays a signal on the chart when a bullish engulfing pattern (green color) or a bearish engulfing pattern (red color) is detected. Alert condition : Sets an alert to send a notification when a bullish or bearish engulfing pattern is detected.
Indikator Pine Script®
oleh Giancarlo_Adorno
Algo Market Structure (Nephew_Sam_)This indicator takes a different approach into reading market structure. The key difference between this logic compared to the pivot logic is; we read highs and lows based on bullish and bearish candles. Ie: Pivot method - highest/lowest point in previous and next X candles Algo method - Bullish candle(s) followed by a bearish candle and vice versa More explanation in each of the key feature below. Here are all of the concepts and features included in the indicator: Timeframe - You can select the timeframe of the indicator (has to be higher or equal to the chart timeframe) - Min option is the minimum timeframe to show the indicator. If you show daily structure on 1m chart, you can run into a timeout error so keep it close to the chart timeframe. - Recommended timeframe for no bugs is the current chart timeframe. Structure The structure is calculated using a combination of candle patterns (ie. pivot top = Bullish x3-Bearish-Bullish) and marks out circle labels after a new HH or LL Structure high = 1 or more consecutive bull candles followed by a bear candle Structure low = 1 or more consecutive bear candles followed by a bull candle Structure direction change = when the second previous H/L is taken out (TLQ) ILQ - Inducement Liquidity concept In a bearish example this is the most recent structure high. TLQ In a bearish example this is the second most recent structure high. This is also what helps define our structure direction. If broken, the structure changes (bullish / bearish) and plots a bos line. EPA - Efficient price action When price returns back to previous structure point after bos. Similar to an ICT breaker. Note: It might be a little, just a little buggy if you have set your indicator timeframe to higher than the chart timeframe. Extremes Zones The final zone to find a trade entry before a structural shift. These are wick of the TLQ candle. This is select the wick of the current timeframe candle even if indicator is set to higher timeframe. MSU Tiny arrow labels at the bottom of your chart. Plots the arrows when price is between an ILQ and TLQ VTA Valid trading range. This is when we get some sort of a structure pattern. Plots a box when price induces previous structure point and then breaks structure in the opposite direction. Here are the patterns: Bull VTA - HH-LL-HH Bear VTA - LL-HH-LL Bull Strict VTA - LL-HH-LL-HH Bear Strict VTA - HH-LL-HH-LL Bar colors Changes the bar color based on the structure to all green/red. Note: for this to work, you will have to right click on the indicator, then under visual order select 'bring to front' Table This table plots the structure stats/data 1. If structure is bullish / bearish 2. If price is efficient or not 3. If there is an MSU 4. If price is inside a VTA Disclaimer: This indicator is fully written from scratch by me, the idea behind the concepts come from AlgoHub material on Youtube. Do NOT use this code for reselling purposes and if anything is created using any part of this code, the source code should be public.
Indikator Pine Script®
oleh nephew_sam_
22
VWAP with RSIVWAP with RSI Indicator Overview The VWAP with RSI Indicator is a powerful tool that combines the Volume Weighted Average Price (VWAP) with the Relative Strength Index (RSI) to provide traders with comprehensive insights into price trends, volume-weighted price levels, and market momentum. This dual-indicator setup enhances your trading strategy by offering a clearer understanding of the market conditions, potential entry and exit points, and trend reversals. Key Features VWAP (Volume Weighted Average Price): Calculation: The VWAP is calculated using the high, low, and close prices, weighted by trading volume over a specified period. Purpose: VWAP provides an average price that reflects the trading volume at different price levels, helping traders identify the true average price over a given period. Visualization: The VWAP line is plotted in blue on the price chart, indicating the volume-weighted average price. RSI (Relative Strength Index): Calculation: RSI is based on the average gains and losses over a specified period (default is 14 periods) and ranges from 0 to 100. Purpose: RSI measures the speed and change of price movements, identifying overbought or oversold conditions in the market. Overbought/Oversold Levels: Overbought: RSI above 70 (red line). Oversold: RSI below 30 (green line). Midline: RSI at 50 (gray dashed line). Visualization: The RSI line changes color based on its value (purple for normal, red for overbought, green for oversold) and is plotted below the price chart. Background Fill for RSI: Overbought Area: Shaded red when RSI is above 70. Oversold Area: Shaded green when RSI is below 30. Bullish and Bearish Divergence Detection: Bullish Divergence: Occurs when price forms a lower low, but RSI forms a higher low, indicating potential upward reversal. Visualization: Bullish divergence points are marked with a green line and labeled "Bull." Bearish Divergence: Occurs when price forms a higher high, but RSI forms a lower high, indicating potential downward reversal. Visualization: Bearish divergence points are marked with a red line and labeled "Bear." Alerts: Conditions for bullish and bearish divergences trigger alerts. Settings VWAP Settings: hideonDWM: Option to hide VWAP on daily or higher timeframes. src: Source for VWAP calculation (default is hlc3 - (high + low + close)/3). offset: Offset for plotting the VWAP. RSI Settings: rsiLengthInput: Period length for RSI calculation (default is 14). rsiSourceInput: Source for RSI calculation (default is close price). maTypeInput: Type of moving average applied to RSI (options: SMA, EMA). maLengthInput: Length of the moving average applied to RSI. How to Use Trend Identification: Use VWAP to identify the average price level and market trend. If the price is above VWAP, it suggests an uptrend, and if below, it suggests a downtrend. Overbought/Oversold Conditions: Use RSI to identify potential reversal points. RSI above 70 indicates overbought conditions, and below 30 indicates oversold conditions. Divergence: Look for bullish or bearish divergences between price and RSI to anticipate potential trend reversals. Conclusion By combining VWAP and RSI, this indicator provides a robust framework for analyzing market conditions, identifying trends, and making more informed trading decisions. Enhance your trading strategy today with the VWAP with RSI Indicator!
Indikator Pine Script®
oleh Parth429
Heads UpAn indicator that gives you the "heads up" that that bullish/ bearish strength is increasing. I wanted an indicator that could give me the "heads up" that bullish/ bearish strength is increasing. This would help me get into a breakout early or avoid entering a breakout that had a high probability of failure. Here are my definitions for this indicator: My bull bar definition: - A green candle that closes above 75% of it's candle range. - The candle's body does not overlap the previous candle's body. Tails/ wicks CAN overlap. My bear bar definition: - A red candle that closes below 75% of it's candle range. - the candle's body does not overlap the previous candle's body. Tails/ ticks CAN overlap. Bullish strength increasing (arrow up): - Bull bars are increasing in size (the candle's range) compared to previous 5 bars. - 2 consecutive bull bars. Bearish strength increasing (arrow down): - Bear bars are increasing in size (the candle's range) compared to previous 5 bars. - 2 consecutive bear bars. You will not see this indicator trigger very often but when it does - it's because there is a change in bullish bearish strength. Things to be aware of: Use the indicator in line with the context of the previous trend. You will get triggers that fail. These are usually because they appear counter trend. When in doubt zoom out. It will not call every successful breakout. If you understand the definitions you'll understand why it appears. This is my first indicator and used for my personal use. Feedback and other ideas are welcome.
Indikator Pine Script®
oleh BenjaminSamElliott
2
MTF Regime Filter II [CHE]Regime Filter II - Comprehensive Guide Introduction The "Regime Filter II " indicator is a tool designed to help traders identify market trends by smoothing price data and applying a color scheme to visualize bullish and bearish conditions. This guide provides a detailed explanation of the script's functionality, benefits, and how to use it effectively in TradingView. Key Benefits 1. Trend Identification: Smooths price data to highlight underlying trends, making it easier for traders to spot potential buying or selling opportunities. 2. Visual Clarity: Uses distinct color schemes to differentiate between bullish and bearish market conditions, enhancing visual analysis. 3. Customization: Offers various settings to adjust smoothing and averaging lengths, choose between different color schemes, and set visibility for different timeframes. 4. Neutral Candle Option: Provides an option to display neutral candles for clearer visual representation when market conditions are neither strongly bullish nor bearish. 5. Timeframe Adaptability: Includes functions to determine appropriate step sizes based on different timeframes, ensuring the indicator remains accurate across various trading periods. Script Breakdown 1. Indicator Declaration The script starts by declaring itself as a TradingView indicator using the latest version of Pine Script. This sets up the framework for the indicator's functionality. 2. User Inputs for Smoothing and Averaging Lengths The script allows users to input specific lengths for smoothing and averaging intervals. These inputs are crucial for determining how the price data is processed to identify trends. By adjusting these lengths, users can fine-tune the sensitivity of the indicator to market movements. 3. Color Scheme Selection Users can choose between two color schemes: "Traditional" and "WT1 0 Rule". The selected color scheme will determine how the indicator colors the candles to represent bullish and bearish conditions. This customization enhances the visual appeal and usability of the indicator according to personal preferences. 4. Settings for Timeframe Visibility The script includes settings that allow users to specify which timeframes the indicator should be visible on. This feature helps traders focus on the most relevant timeframes for their trading strategies. Additionally, users can set the number of recent candles to display, providing a clear view of the most recent market trends. 5. Color Definitions The indicator defines specific colors for bearish and bullish candles. Bearish candles are colored red, while bullish candles are green. These color definitions are applied based on the selected color scheme and the calculated trend, providing a quick visual reference for market conditions. 6. Time Constants To manage different timeframes effectively, the script uses constants that represent various time intervals in milliseconds, such as minutes, hours, and days. These constants are used to convert timeframes into a format that the script can work with to determine the appropriate step size for calculations. 7. Step Size Determination The script includes a function that determines the step size based on the selected timeframe. This function ensures that the indicator adapts to different timeframes, maintaining its accuracy and relevance across various trading periods. The step size is calculated based on time intervals, and appropriate labels (like "60", "240", "1D") are assigned. - For timeframes less than or equal to 1 minute, the step size is set to "60". - For timeframes less than or equal to 5 minutes, the step size is set to "240". - For timeframes less than or equal to 1 hour, the step size is set to "1D" (daily). - For timeframes less than or equal to 4 hours, the step size is set to "3D" (three days). - For timeframes less than or equal to 12 hours, the step size is set to "7D" (weekly). - For timeframes less than or equal to 1 day, the step size is set to "1M" (monthly). - For timeframes less than or equal to 1 week, the step size is set to "3M" (three months). - For all other timeframes, the step size is set to "12M" (yearly). 8. Trend Calculation The core of the indicator is its ability to calculate market trends. Here's a detailed breakdown of how the `calculateTrend` function works: - Initialization: Variables for the middle price and scale, and summations of high/low prices and ranges, are initialized. - Summation Loop: A loop runs over the smoothing length to calculate the sum of high and low prices and their range. - Middle and Scale Calculation: The middle price is determined as the average of high/low sums, and the scale is calculated as a fraction of the average range. - Normalization: The high, low, and close prices are normalized based on the middle price and scale. - HT Calculation: The normalized prices are smoothed using a simple moving average (SMA). - Frequency and Exponential Calculations: The frequency and related constants (a, c1, c2, c3) are calculated for further smoothing. - Smoothed Moving Average (SMA): A smoothed moving average is computed using the HT values and exponential constants. - WT1 and WT2 Calculation: The final smoothed values (WT1) and their average (WT2) are derived. 9. Color Application Based on Trend Once the trend is calculated, the script applies the appropriate color to the candles based on the selected color scheme. This function ensures that the visual representation of the trend is consistent with the user’s preferences. 10. Label Plotting for Timeframes If the option to display timeframe labels is enabled, the script plots labels on the chart to indicate the current timeframe. This feature helps users quickly identify which timeframe they are analyzing. 11. Shape Plotting Based on Trend and Color Scheme The indicator plots shapes (squares) on the chart based on the calculated trend and selected color scheme. These shapes provide an additional visual cue for market conditions, enhancing the overall clarity of the indicator. 12. Neutral Candle Color Option The script includes an option to set the color of neutral candles when market conditions are neither strongly bullish nor bearish. This option helps traders better visualize periods of market indecision. Summary The "Regime Filter II " is a powerful and customizable tool for traders, offering clear visual cues for market trends and adaptability to various timeframes. By smoothing price data and applying intuitive color schemes, it helps traders make more informed decisions. With features like adjustable smoothing lengths, multiple color schemes, and optional neutral candle displays, this indicator enhances market analysis and trading strategy development. By following this comprehensive guide, traders can effectively utilize the "Regime Filter II " indicator to enhance their market analysis and make more informed trading decisions. Best regards
Indikator Pine Script®
oleh chervolino
4
Expansion Candles by Alex EntrepreneurHey people! Thanks for using Expansion Candles. I designed this tool to help me identify price runs (expansions) based on consecutive bullish or bearish candle closes and then trade continuations on the lower timeframes. Here's what makes it awesome: How Does It Work? An “expansion” is confirmed after multiple closes above the previous candle’s high (in the bull case) or below the previous candle’s low (in the bear case) while also having a higher candle low than the previous candle (in the bull case) or having lower candle high that the previous candle (in the bear case). After an expansion is confirmed, then the indicator will be displayed on the next candle. You can set the number of required candle closes that confirm an “expansion” by increasing or decreasing the "Required Candles For Valid Expansion" setting. An expansion will continue until an “invalidation” event occurs this will cause the indicator to stop displaying. This “invalidation” can either be a lower candle low than the previous candle (in the bull case) and a higher candle high than the previous candle (in the bear case), or a close below the previous candle’s low (in the bull case) or a close above the previous candle’s high (in the bear case). You can choose whether you want to use candle highs and lows as invalidation or candle closes as invalidation by changing the “Invalidation Type” setting to either “Wick” or “Candle Close”. Key Features Price Run Detection : Identify when price is expanding through consecutive bullish or bearish candle closes. You can chose whether a wick or opposite candle close finishes the run. Timeframe Selection : Select your preferred timeframe for expansion candles and then view the indicator on lower timeframes for precise continuation entries. Custom Display Options : Tailor the way expansions are shown on your chart. Choose your bullish and bearish colours and then display expansions as coloured candles, background colours, boxes, or arrows. Sensitivity Adjustment : Adjust the indicator's sensitivity by changing the number of "Required Candles For Valid Expansion" to suit your analysis. Set Alerts : Detect new bullish or bearish expansions in your favourite instruments with customisable alerts. Best, Alex Entrepreneur
Indikator Pine Script®
oleh alexonmarkets
Johnny's Adjusted BB Buy/Sell Signal"Johnny's Adjusted BB Buy/Sell Signal" leverages Bollinger Bands and moving averages to provide dynamic buy and sell signals based on market conditions. This indicator is particularly useful for traders looking to identify strategic entry and exit points based on volatility and trend analysis. How It Works Bollinger Bands Setup: The indicator calculates Bollinger Bands using a specified length and multiplier. These bands serve to identify potential overbought (upper band) or oversold (lower band) conditions. Moving Averages: Two moving averages are calculated — a trend moving average (trendMA) and a long-term moving average (longTermMA) — to gauge the market's direction over different time frames. Market Phase Determination: The script classifies the market into bullish or bearish phases based on the relationship of the closing price to the long-term moving average. Strong Buy and Sell Signals: Enhanced signals are generated based on how significantly the price deviates from the Bollinger Bands, coupled with the average candle size over a specified lookback period. The signals are adjusted based on whether the market is bullish or bearish: In bullish markets, a strong buy signal is triggered if the price significantly drops below the lower Bollinger Band. Conversely, a strong sell signal is activated when the price rises well above the upper band. In bearish markets, these signals are modified to be more conservative, adjusting the thresholds for triggering strong buy and sell signals. Features: Flexibility: Users can adjust the length of the Bollinger Bands and moving averages, as well as the multipliers and factors that determine the strength of buy and sell signals, making it highly customizable to different trading styles and market conditions. Visual Aids: The script vividly plots the Bollinger Bands and moving averages, and signals are visually represented on the chart, allowing traders to quickly assess trading opportunities: Regular buy and sell signals are indicated by simple shapes below or above price bars. Strong buy and sell signals are highlighted with distinctive colors and placed prominently to catch the trader's attention. Background Coloring: The background color changes based on the market phase, providing an immediate visual cue of the market's overall sentiment. Usage: This indicator is ideal for traders who rely on technical analysis to guide their trading decisions. By integrating both Bollinger Bands and moving averages, it provides a multi-faceted view of market trends and volatility, making it suitable for identifying potential reversals and continuation patterns. Traders can use this tool to enhance their understanding of market dynamics and refine their trading strategies accordingly.
Indikator Pine Script®
oleh JonathanLeyva
1
Delta ZigZag [LuxAlgo]The Delta ZigZag indicator is focused on volume analysis during the development of ZigZag lines. Volume data can be retrieved from a Lower timeframe (LTF) or real-time Tick data. Our Delta ZigZag publication can be helpful in detecting indications of a trend reversal or potential weakening/strengthening of the trend. This indicator by its very nature backpaints, meaning that the displayed components are offset in the past. 🔶 USAGE The ZigZag line is formed by connecting Swings , which can be set by adjusting the Left and Right settings. Left is the number of bars for evaluation at the left of the evaluated point. Right is the number of bars for evaluation at the right of the evaluated point. A valid Swing is a value higher or lower than the bars at the left/right . A higher Left or Right set number will generally create broader ZigZag ( ZZ ) lines, while the drawing of the ZZ line will be delayed (especially when Right is set higher). On the other hand, when Right is set at 0, ZZ line are drawn quickly. However, this results in a hyperactive switching of the ZZ direction. To ensure maximum visibility of values, we recommend using " Bars " from the " Bar's style " menu. 🔹 Volume examination The script provides two options for Volume examination : Examination per ZigZag line Examination per bar Bullish Volume is volume associated with a green bar ( close > open ) Bearish Volume is volume associated with a red bar ( close < open ) Neutral Volume (volume on a " close == open" bar) is not included in this publication. 🔹 Examination per ZigZag line As long as the price moves in the same direction, the present ZZ line will continue. When the direction of the price changes, the bull/bear volume of the previous ZZ line is evaluated and drawn on the chart. The ZZ line is divided into two parts: a bullish green line and a bearish red line. The intercept of these two lines will depend on the ratio of bullish/bearish volume This ratio is displayed at the intercept as % bullish volume (Settings -> Show % Bullish Volume) * Note that we cannot draw between 2 bars. Therefore, if a ZZ line is only 1 bar long, the intercept will be at one of those 2 bars and not in between. The percentage can be helpful in interpreting bull/bear volume. In the example above (2 most right labels), you can see that an overlap of 2 labels is prevented, ensuring the ability to evaluate the bullish % volume of the ZZ line . The percentage will be colored green when more than 50%, red otherwise. The color will fade when the direction is contradictory; for example, 40% when the ZZ line goes up or 70% when the ZZ line falls. More details can be visualized by enabling " Show " and choosing 1 of 3 options: Average Volume Delta/bar Average Volume/bar Normalised Volume Delta For both 'averages', the sum of " Volume "/" Volume Delta " of every bar on the ZZ line is divided by the number of bars (per ZZ line ). The " Normalised Volume Delta " is calculated by dividing the sum of " Delta Volume " by the sum of " Volume " (neutral volume not included), which is displayed as a percentage. All three options will display a label at the last point of the ZZ line and be coloured similarly: green when the ratio bullish/bearish volume of the ZZ line is bullish and red otherwise. Here, the colour also fades when it is bullish, but the ZZ line falls or when it is bearish with a rising ZZ line . A tooltip at each label hints at the chosen option. You can pick one of the options or combine them together. 🔹 Examination per bar Besides information about what's happening during the ZZ line , information per bar can be visualized by enabling " Show Details " in Settings . Split Volume per bar : show the sum of bullish (upV) and bearish (dnV) volume per bar Volume (bar) : Total Volume per bar (bullish + bearish volume, neutral volume not included) Δ Volume (bar) : Show Delta Volume (bullish - bearish volume) 🔹 Using Lower Timeframe Data The ZigZag lines using LTF data are colored brighter. Also note the vertical line where the LTF data starts and the gap between ZZ lines with LTF data and without. When " LTF " is chosen for the " Data from: " option in Settings , data is retrieved from Lower Timeframe bars (default 1 minute). When the LTF setting is higher than the current chart timeframe, the LTF period will automatically be adjusted to the current timeframe to prevent errors. As there is a 100K limit to the number of LTF intrabars that can be analyzed by a script, this implies the higher the difference between LTF and current TF; the fewer ZZ lines will be seen. 🔹 Using real-time tick data The principles are mostly the same as those of LTF data. However, in contrast with LTF data, where you already have LTF ZZ lines when loading the script, real-time tick data-based ZZ lines will only start after loading the chart. Changing the settings of a ticker will reset everything. However, returning to the same settings/ticker would show the cached data again. Here, you can see that changing settings reset everything, but returning after 2 minutes to the initial settings shows the cached data. Don't expect it to be cached for hours or days, though. 🔶 DETAILS The timeframe used for LTF data should always be the same or lower than the current TF; otherwise, an error occurs. This snippet prevents the error and adjusts the LTF to the current TF when LTF is too high: res = input.timeframe('1') res := timeframe.from_seconds( math.min( timeframe.in_seconds(timeframe.period), timeframe.in_seconds(res) ) ) 🔶 SETTINGS Data from: LTF (Lower TimeFrame) or Ticks (Real-time ticks) Res: Lower TimeFrame (only applicable when choosing LTF ) Option: choose " high/low " or " close " for Swing detection 🔹 ZigZag Left: Lookback period for Swings Right: Confirmation period after potential Swing 🔹 ZigZag Delta Show % Bullish Volume : % bullish volume against total volume during the ZZ line Show: Average Volume Delta/bar Average Volume/bar Normalised Volume Delta See USAGE for more information 🔹 Bar Data Split Volume per bar: shows the sum of bullish ( upV ) and bearish ( dnV ) volume per bar Volume (bar): Total Volume per bar (bullish + bearish volume, neutral volume not included) Δ Volume (bar): Show Volume Delta (bullish - bearish volume)
Indikator Pine Script®
oleh LuxAlgo
15
TSF 20What kind of traders/investors are we? We are trend followers. We look for assets that are outperforming the market. Our scripts are designed to be used on the higher timeframes (weekly/daily) to catch the large moves/trends in the market. Our scripts have been designed to help you follow the trend in an asset. What does this script do? This script is designed to colour candles on a chart based on their position relative to two sets of Bollinger Bands. Here's a breakdown of how it functions: Bollinger Bands Setup: The script uses two sets of Bollinger Bands, both with a length of 20 and based on the closing prices of candles. The first set of Bollinger Bands uses a standard deviation (StdDev) of 1. The second set uses a standard deviation of 2. Neither set of bands is displayed on the chart. Coloring Candles: Green Candle: A candle is coloured green if its close is above the upper Bollinger Band with StdDev 1 but below the upper Bollinger Band with StdDev 2. This indicates a moderately bullish sentiment. Dark Green Candle: A candle is colored dark green when its close is above the upper Bollinger Band with StdDev 2. This implies a stronger bullish sentiment. Red Candle: A candle is coloured red if its close is below the lower Bollinger Band with StdDev 1 but above the lower Bollinger Band with StdDev 2. This indicates a moderately bearish sentiment. Dark Red Candle: A candle is colored dark red if its close is below the lower Bollinger Band with StdDev 2, indicating a stronger bearish sentiment. Grey Candle: A candle is coloured grey if it closes between the upper and lower Bollinger Bands with StdDev 1. This usually signifies a neutral market condition or periods of consolidation. In summary, this script is an analytical tool that visually represents the market's bullishness or bearishness relative to the Bollinger Bands, without displaying the bands themselves. It's designed to help investors quickly assess market conditions and sentiment based on the colour-coded representation of price action in relation to these volatility bands. What makes this script unique? Innovative Color-Coding System: Candles are colored in varying shades of green and red, providing an immediate visual cue about the market's bullish or bearish tendencies. A neutral grey is also used, offering a quick assessment of market indecision or consolidation phases. Dual Bollinger Band Analysis: Utilizes two sets of Bollinger Bands (StdDev 1 and StdDev 2) to gauge market volatility and sentiment. This dual-band approach enhances the precision of sentiment analysis compared to using a single standard deviation. Customizable and Non-Obtrusive: Designed to keep your charts clean and readable. The Bollinger Bands themselves are not displayed, reducing visual clutter and allowing for a focus on price action. Versatile and Adaptable: Suitable for various trading styles and timeframes. Whether you are a short-term or long-term investor, this indicator can be seamlessly integrated into your analysis toolkit. Valuable Addition to Market Analysis: Enhances traditional candlestick analysis and complements other technical indicators and strategies. It offers an additional layer of understanding market dynamics and can be used to confirm or question other signals. How It Adds Value: Enhanced Visual Analysis: By colour-coding candles based on Bollinger Band positioning, it simplifies the interpretation of market sentiment and volatility, making it easier to spot trends and reversals. Strategic Decision Making: Helps traders make more informed decisions by clearly highlighting bullish and bearish strength, or lack thereof, in the market. Time Efficiency: Reduces the time spent analyzing charts by providing an immediate visual representation of market conditions. Originality: Offers a fresh perspective and an innovative approach to using Bollinger Bands, making it a unique addition to the community's toolbox.
Indikator Pine Script®
oleh Sublime_Trading
1
Morning & Evening Star This Pine Script code is designed to identify Morning Star and Evening Star candlestick patterns on a chart. Here's how it works: Calculate Candle Body and Wick Sizes: The script calculates the size of the candle body and wick based on the difference between the close and open prices, as well as the difference between the high and the maximum of the close and open prices. Determine if the Candle is a Doji: It checks if the candle is a doji by comparing the size of the body to a fraction of the wick size. If the body size is less than or equal to 20% of the wick size, it is considered a doji. Determine if the Current Candle is Bullish or Bearish: It checks if the current candle is bullish (close price is higher than open price) or bearish (close price is lower than open price). Plot Shapes for Doji and Candles: It plots shapes on the chart to indicate buy and sell signals based on the presence of a doji and the formation of Morning Star or Evening Star patterns. These shapes are displayed below (for buy signals) or above (for sell signals) the respective candlesticks. Combine this indicator with my support and resistance zones indicator for better results
Indikator Pine Script®
oleh AllanDecker