RSI and Bollinger Bands Screener [deepakks444]Indicator Overview
The indicator is designed to help traders identify potential long signals by combining the Relative Strength Index (RSI) and Bollinger Bands across multiple timeframes. This combination allows traders to leverage the strengths of both indicators to make more informed trading decisions.
Understanding RSI
What is RSI?
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Developed by J. Welles Wilder Jr. for stocks and forex trading, the RSI is primarily used to identify overbought or oversold conditions in an asset.
How RSI Works:
Calculation: The RSI is calculated using the average gains and losses over a specified period, typically 14 periods.
Range: The RSI oscillates between 0 and 100.
Interpretation:
Key Features of RSI:
Momentum Indicator: RSI helps identify the momentum of price movements.
Divergences: RSI can show divergences, where the price makes a higher high, but the RSI makes a lower high, indicating potential reversals.
Trend Identification: RSI can also help identify trends. In an uptrend, the RSI tends to stay above 50, and in a downtrend, it tends to stay below 50.
Understanding Bollinger Bands
What is Bollinger Bands?
Bollinger Bands are a type of trading band or envelope plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of a price. Developed by financial analyst John Bollinger, Bollinger Bands consist of three lines:
Upper Band: SMA + (Standard Deviation × Multiplier)
Middle Band (Basis): SMA
Lower Band: SMA - (Standard Deviation × Multiplier)
How Bollinger Bands Work:
Volatility Measure: Bollinger Bands measure the volatility of the market. When the bands are wide, it indicates high volatility, and when the bands are narrow, it indicates low volatility.
Price Movement: The price tends to revert to the mean (middle band) after touching the upper or lower bands.
Support and Resistance: The upper and lower bands can act as dynamic support and resistance levels.
Key Features of Bollinger Bands:
Volatility Indicator: Bollinger Bands help traders understand the volatility of the market.
Mean Reversion: Prices tend to revert to the mean (middle band) after touching the bands.
Squeeze: A Bollinger Band Squeeze occurs when the bands narrow significantly, indicating low volatility and a potential breakout.
Combining RSI and Bollinger Bands
Strategy Overview:
The strategy aims to identify potential long signals by combining RSI and Bollinger Bands across multiple timeframes. The key conditions are:
RSI Crossing Above 60: The RSI should cross above 60 on the 15-minute timeframe.
RSI Above 60 on Higher Timeframes: The RSI should already be above 60 on the hourly and daily timeframes.
Price Above 20MA or Walking on Upper Bollinger Band: The price should be above the 20-period moving average of the Bollinger Bands or walking on the upper Bollinger Band.
Strategy Details:
RSI Calculation:
Calculate the RSI for the 15-minute, 1-hour, and 1-day timeframes.
Check if the RSI crosses above 60 on the 15-minute timeframe.
Ensure the RSI is above 60 on the 1-hour and 1-day timeframes.
Bollinger Bands Calculation:
Calculate the Bollinger Bands using a 20-period moving average and 2 standard deviations.
Check if the price is above the 20-period moving average or walking on the upper Bollinger Band.
Entry and Exit Signals:
Long Signal: When all the above conditions are met, consider a long entry.
Exit: Exit the trade when the price crosses below the 20-period moving average or the stop-loss is hit.
Example Usage
Setup:
Add the indicator to your TradingView chart.
Configure the inputs as per your requirements.
Monitoring:
Look for the long signal on the chart.
Ensure that the RSI is above 60 on the 15-minute, 1-hour, and 1-day timeframes.
Check that the price is above the 20-period moving average or walking on the upper Bollinger Band.
Trading:
Enter a long position when the criteria are met.
Set a stop-loss below the low of the recent 15-minute candle or based on your risk management rules.
Monitor the trade and exit when the RSI returns below 60 on any of the timeframes or when the price crosses below the 20-period moving average.
House Rules Compliance
No Financial Advice: This strategy is for educational purposes only and should not be construed as financial advice.
Risk Management: Always use proper risk management techniques, including stop-loss orders and position sizing.
Past Performance: Past performance is not indicative of future results. Always conduct your own research and analysis.
TradingView Guidelines: Ensure that any shared scripts or strategies comply with TradingView's terms of service and community guidelines.
Conclusion
This strategy combines RSI and Bollinger Bands across multiple timeframes to identify potential long signals. By ensuring that the RSI is above 60 on higher timeframes and that the price is above the 20-period moving average or walking on the upper Bollinger Band, traders can make more informed decisions. Always remember to conduct thorough research and use proper risk management techniques.
Cari skrip untuk "tradingview+筹码结构"
Drawdown from All-Time High (Line)This Pine Script is a **Drawdown Indicator from All-Time High** for TradingView. It calculates and plots the percentage drawdown from the highest price the asset has ever reached (the all-time high). Here's a breakdown of what this script does:
### Description:
- **Drawdown Calculation**:
- The drawdown is calculated as the difference between the current price (`close`) and the all-time high, divided by the all-time high, and multiplied by 100 to express it as a percentage.
- If the current price is higher than the previous all-time high, the all-time high is updated to the current price.
- **All-Time High Tracking**:
- The script tracks the highest price (`allTimeHigh`) that the asset has ever reached. Each time a new high is reached, the `allTimeHigh` value is updated.
- **Line Plot**:
- The drawdown percentage is then plotted as a line on the chart, with a color of **blue** for easy visualization.
- The line shows how much the price has dropped relative to its all-time high.
- **Zero Line**:
- A horizontal line is added at the **0%** level to act as a reference point, which is helpful to identify when the asset has fully recovered to its all-time high.
### Key Features:
- **Track Drawdown**: The indicator helps visualize how far the current price has fallen from its highest point, which is useful for understanding the depth of losses (drawdowns) during a period.
- **Update All-Time High**: The indicator automatically updates the all-time high whenever a new high is detected.
- **Visual Reference**: The 0% horizontal line provides a clear indication of when the asset is at its all-time high, and the drawdown is at 0%.
### How it Works:
- If the current price surpasses the all-time high, the script will reset the all-time high to the new price.
- The drawdown percentage is calculated from the current price relative to this all-time high, and it is displayed as a line on the chart.
### Visuals:
- **Drawdown Line**: Plots the percentage of the drawdown, which is the drop from the all-time high.
- **Zero Line**: A dotted horizontal line at 0% marks the level of the all-time high.
This indicator is valuable for understanding the extent of price corrections and potential recoveries relative to the historical peak of the asset. It is especially useful for traders and investors who want to assess the risk of drawdowns in relation to the highest price achieved by the asset.
Enhanced RSIEnhanced RSI with Phases, Divergences & Volume Control:
This advanced RSI indicator expands on the traditional Relative Strength Index by introducing dynamic exhaustion phase detection, automatic divergence identification, and volume-based control evaluation. It provides traders with actionable insights into trend momentum, potential reversals, and market dominance.
Key Features:
Dynamic Exhaustion Phases:
Identifies real phases of the RSI based on slope and momentum:
Acceleration: Momentum increasing rapidly (green phase).
Deceleration: Momentum weakening (red phase).
Plateau: Momentum flattening (yellow phase).
Neutral: No significant momentum shift detected.
Phases are displayed dynamically in a box on the chart.
Automatic Divergence Detection:
Bullish Divergence: Identified when price makes a lower low while RSI makes a higher low.
Bearish Divergence: Identified when price makes a higher high while RSI makes a lower high.
Divergences are marked directly on the RSI chart with labeled circles.
Volume-Based Control Evaluation:
Analyzes price action relative to volume to determine market dominance:
Bulls in Control: Closing price is higher than the opening price.
Bears in Control: Closing price is lower than the opening price.
Neutral: No significant dominance (closing equals opening).
Volume status is displayed alongside the RSI phase in the chart’s top-left box.
Custom RSI Plot:
Includes overbought (70), oversold (30), and neutral (50) levels for easier interpretation of market conditions.
RSI plotted in blue for clarity.
How to Use:
Add to Chart:
Apply this indicator to any chart in TradingView.
Interpret the RSI Phase Box:
Use the RSI phase (Acceleration, Deceleration, Plateau, Neutral) to identify trend momentum.
Combine the phase with the volume status (Bulls or Bears in Control) to confirm market sentiment.
Identify Divergences:
Look for Bullish Divergence (potential upward reversal) or Bearish Divergence (potential downward reversal) marked directly on the RSI chart.
Adjust Settings:
Customize the RSI period, phase sensitivity, and divergence lookback period to fit your trading style.
Disclaimer:
This indicator is a tool to assist with technical analysis. It is not a financial advice or a guarantee of market performance. Always combine this indicator with other methods or strategies for better results.
Options Cumulative Chart AnalysysThis Pine Script is a comprehensive tool designed for traders analyzing options data on TradingView. It aggregates multiple symbols to calculate and visualize cumulative performance, providing essential insights for decision-making.
Key Features:
Symbol and Strike Price Configuration:
Supports up to four configurable symbols (e.g., NIFTY options).
Allows defining buy/sell actions, quantities, and entry premiums for each symbol.
Customizable Chart Display:
Plot candlesticks and line charts for cumulative data.
Configurable Exponential Moving Averages (EMAs) for technical analysis.
Entry and price lines with customizable colors.
Timeframe Management:
Supports higher timeframe (HTF) candles.
Ensures compatibility with the current chart timeframe to maintain accuracy.
Dynamic Coloring and Visualization:
Red, green, and gray color schemes for body and wicks of candlesticks based on price movements.
Customizable positive and negative color schemes.
Table for Data Representation:
Displays an info table showing symbols, quantities, entry prices, and latest traded prices (LTP).
Adjustable table position, overlay, and styling.
Premium and Profit/Loss Calculations:
Calculates cumulative open, high, low, and close prices considering premiums and quantities.
Tracks the profit and loss dynamically based on cumulative premiums and market prices.
Alerts and Notifications:
Alerts triggered on specific conditions, such as when the profit/loss turns negative.
Modular Functions:
Functions for calculating high/low/open/close values, combining premiums, and drawing candlesticks.
Utilities for symbol management and security requests.
Custom Settings:
Includes a wide range of input options for customization:
Timeframes, EMA lengths, colors, table configurations, and more.
Error Handling:
Validates timeframe inputs to ensure compatibility and prevent runtime errors.
This script is designed for advanced traders looking for a customizable tool to analyze cumulative options data efficiently. By leveraging its modular design and visual elements, users can make informed trading decisions with a holistic view of market movements.
Crypto Sectors Performance [Daveatt]IMPORTANT
⚠️ This script must be used on the Daily timeframe only.
OVERVIEW
This indicator brings the powerful sector analysis capabilities from velo.xyz/market's
Sector Performance chart to TradingView.
It enables traders to track and compare performance across the crypto market's major sectors, providing essential insights for sector rotation strategies and market analysis.
CALCULATION METHOD
The indicator calculates performance across six key crypto sectors: DeFi, Gaming, Layer 1s, Layer 2s, AI, and Memecoins.
For each sector, it computes a rolling percentage performance by averaging the performance of multiple representative tokens.
All sector performances are rebased to 0% at the start of each period, making relative comparisons clear and intuitive.
VISUALIZATION MODES
The script features two distinct visualization methods:
Plots Mode:
Displays continuous performance lines for each sector over time, ideal for tracking relative strength trends and sector momentum. Each sector has its own color-coded line with performance values clearly marked.
Bars Mode:
Presents current sector performance as vertical bars, offering an immediate visual comparison of sector gains and losses.
The bars are color-coded and labeled with exact percentage values for precise analysis.
For the "Bars Mode", I used the box.new() function
SECTOR COMPOSITION
Each sector comprises carefully selected representative tokens:
- DeFi: AAVE, 1INCH, JUP, MKR, UNI
- Gaming: GALA, AXS, RONIN, SAND
- Layer 1: BTC, ETH, AVAX, APT, SOL, BNB, SUI
- Layer 2: ARB, OP, ZK, POL, STRK, MNT
- AI: FET, NEAR, RENDER, TAO
- Memecoins: PEPE, BONK, SHIB, DOGE, WIFU, POPCAT
PERFORMANCE TRACKING
The indicator implements a rolling window approach for performance calculations.
Starting from 0% at the beginning of each period, it tracks relative performance with positive values indicating outperformance and negative values showing underperformance.
Multiple timeframe options (1W, 1M, 3M, 6M, and 1Y) allow for both short-term and long-term analysis.
APPLICATIONS
This tool proves invaluable for:
- Sector rotation analysis
- Identifying trending sectors
- Comparing relative strength
- Gauging market sentiment
- Understanding market structure through sector performance
Thanks for reading and for the support
Daveatt
Force Volume GradientThis Pine Script is a technical indicator designed for trading platforms, specifically TradingView. It plots the Force Volume Gradient (FVG) and generates buy/sell signals based on the crossover of the FVG line and a signal line.
Key Components:
Force Index: Calculates the exponential moving average (EMA) of the product of the close price and volume.
Force Volume Gradient (FVG): Calculates the EMA of the Force Index.
Signal Line: A simple moving average (SMA) of the FVG.
Buy/Sell Signals: Generated when the FVG line crosses above/below the signal line.
How it Works:
The script calculates the Force Index, which measures the amount of energy or "force" behind price movements.
The FVG is then calculated by applying an EMA to the Force Index, smoothing out the values.
The signal line is a SMA of the FVG, providing a benchmark for buy/sell signals.
When the FVG line crosses above the signal line, a buy signal is generated. Conversely, when the FVG line crosses below the signal line, a sell signal is generated.
Trading Strategy:
This script can be used as a momentum indicator to identify potential buying or selling opportunities. Traders can use the buy/sell signals as entry/exit points, or combine the FVG with other indicators to create a more comprehensive trading strategy.
Customization:
Users can adjust the input parameters, such as the length of the Force Index and signal line, to suit their individual trading preferences.
HTF Candles Overlay [Trendoscope®]🎲 HTF Candles Overlay is a simple indicator where you can overlay higher timeframe candles on current timeframe chart.
Most of the code is encapsulated in the library HTFCandlesLib . After publishing the library as open source, many people requested to convert that into an indicator. Based on this, we decided to publish this small code for the use of community.
🎯 Usage
The indicator is simple, it helps users visualise higher timeframe candles. We majorly use this for debugging or validating our implementations based on higher timeframe. Instead of switching back and forth to different timeframes, it helps us visualise higher timeframe candles on the same chart when we are validating the implementation that involves higher timeframe calculations.
🎯 Components
The indicator provides two types of displays
Candles - overlay candles built through lines and labels
Plot - close price of higher timeframe plotted on chart
🎯 Candles
The behaviour of the candles are similar to that of hollow candles. The color of the body and the border+wick demonstrates the movement of the candle.
Body color is lime if the HTF close is higher than HTF open. Body color is orange if the HTF close is lower than the HTF open.
Wick and border color is lime if HTF close price is higher than previous HTF close price. And they are orange if HTF close price is lower than the previous HTF close price
In most cases body color will be same as the wick color. In case of stocks and indices, it may happen that the open price is too far away from previous close price due to gaps. This can lead to close price being relatively in different direction when compared to open and previous close.
Wicks are not at the centre of the candle. Instead wicks are drawn on the current chart timeframe position where the current timeframe has reached the highest or lowest point within the given HTF candle
Candles also list OHLC price of HTF candle along with HTF bar index and the range of LTF bar index that the candle spawns
Here are some pictorial representations that can help understand better.
Here are the examples of candles with gaps where body and wick/border are in different directions (colours)
🎯 Indicator Settings
Simple settings allow users to select the timeframe, whether to display candles and plots and their specific colors.
🎯 Possible inconsistencies
The overlay can show inconsistent data in certain situations. Here are some of the scenarios where the indicator may not show consistent display of the data.
When the HTF data from request.security does not match that of combined LTF data . In such cases, HTF candles may not form inline with the current timeframe candles. This happens when there is a data issue of different OHLC data available in tradingview.
When using weekly candle as either chart timeframe or higher timeframe - end of week may not coincide with end of month or other timeframes. This can cause some inconsistencies in the visuals of the indicator.
When open and close time of either LTF or HTF falls under different day due to time zone used. - time is always the time on which the candle close. So, when we use time zone that causes the exchange day to open and close on different days, that can cause some inconsistencies in the candles being drawn.
Stage Market V4This script provides a comprehensive tool for identifying market stages based on exponential moving averages (EMAs), market performance metrics, and additional price statistics. Below is a summary of its functionality and instructions on how to use it:
1. Inputs and Configuration
Fast and Slow EMA:
Fast EMA Length: Determines the period for the fast EMA.
Slow EMA Length: Determines the period for the slow EMA.
Additional EMAs:
Enable or disable three additional EMAs (EMA 1, EMA 2, and EMA 3) with customizable lengths.
52-Week High Display:
Optionally display the percentage distance from the 52-week high.
2. Market Stages
The indicator identifies six market stages based on the relationship between the price, fast EMA, and slow EMA:
Recovery: Price is above the fast EMA, and the slow EMA is above both the price and the fast EMA.
Accumulation: Price is above both the fast EMA and slow EMA, but the slow EMA is still above the fast EMA.
Bull Market: Price, fast EMA, and slow EMA are all aligned in a rising trend.
Warning: Price is below the fast EMA, but still above the slow EMA, signaling potential weakness.
Distribution: Price is below both EMAs, but the slow EMA remains below the fast EMA.
Bear Market: Price, fast EMA, and slow EMA are all aligned in a falling trend.
The current stage is displayed in a table along with the number of bars spent in that stage.
3. Performance Metrics
The script calculates additional metrics to gauge the stock's performance:
30-Day Change: The percentage price change over the last 30 days.
90-Day Change: The percentage price change over the last 90 days.
Year-to-Date (YTD) Change: The percentage change from the year's first closing price.
Distance from 52-Week High (if enabled): The percentage difference between the current price and the highest price over the past 52 weeks.
These values are color-coded:
Green for positive changes.
Red for negative changes.
4. Table Display
The indicator uses a table in the bottom-right corner of the chart to show:
Current market stage and bars spent in the stage.
30-day, 90-day, and YTD changes.
Distance from the 52-week high (if enabled).
5. EMA Plotting
The script plots the following EMAs on the chart:
Fast EMA (default: 50-period) in yellow.
Slow EMA (default: 200-period) in orange.
Optional EMAs (EMA 1, EMA 2, and EMA 3) in blue, green, and purple, respectively.
6. Using the Indicator
Add the indicator to your chart via the Pine Editor in TradingView.
Customize the input parameters to fit your trading style or the asset's characteristics.
Use the table to quickly assess the current market stage and key performance metrics.
Observe the plotted EMAs to understand trend alignments and potential crossovers.
This script is particularly useful for identifying market trends, understanding price momentum, and aligning trading decisions with broader market conditions.
Combined VolumeThis indicator displays the combined volume for all the exchanges listed in the settings menu.
For example, with the default settings, on BTCUSD the indicator will display the current market's volume AND the volume of all other major exchanges listed on TradingView.
The gray indicator value is the current exchange's volume, the colored volume is the combined volume of all other exchanges, allowing you to compare the current exchange's volume to the broad market to give you a better idea of local exchange activity versus broad market activity.
If you want to add more exchange tickers, turn "debug" mode on and a small label will appear in the top right telling you which market type & exchange ticker you're currently on. All exchange tickers must be separated by a comma.
The "Other Exchanges" input setting overrides all other lists allowing you to specify your own exchange list for assets not provided by the default settings (the indicator supports crypto, forex and stocks by default).
Global Market Strength IndicatorThe Global Market Strength Indicator is a powerful tool for traders and investors. It helps compare the strength of various global markets and indices. This indicator uses the True Strength Index (TSI) to measure market strength.
The indicator retrieves price data for different markets and calculates their TSI values. These values are then plotted on a chart. Each market is represented by a different colored line, making it easy to distinguish between them.
One of the main benefits of this indicator is its comprehensive global view. It covers major indices and country-specific ETFs, giving users a broad perspective on global market trends. This wide coverage allows for easy comparison between different markets and regions.
The indicator is highly customizable. Users can adjust the TSI smoothing period to suit their preferences. They can also toggle the visibility of individual markets. This feature helps reduce chart clutter and allows for more focused analysis.
To use the indicator, apply it to your chart in TradingView. Adjust the settings as needed, and observe the relative positions and movements of the TSI lines. Lines moving higher indicate increasing strength in that market, while lines moving lower suggest weakening markets.
The chart includes reference lines at 0.5 and -0.5. These help identify potential overbought and oversold conditions. Markets with TSI values above 0.5 may be considered strong or potentially overbought. Those below -0.5 may be weak or potentially oversold.
By comparing the movements of different markets, users can identify which markets are leading or lagging. They can also spot potential divergences between related markets. This information can be valuable for identifying sector rotations or shifts in global market sentiment.
A dynamic legend automatically updates to show only the visible markets. This feature improves chart readability and makes it easier to interpret the data.
The Global Market Strength Indicator is a versatile tool that provides valuable insights into global market performance. It helps traders and investors identify trends, compare market performances, and make more informed decisions. Whether you're looking to spot emerging global trends or identify potential trading opportunities, this indicator offers a comprehensive solution for global market analysis.
Top-Down Trend and Key Levels with Swing Points//by antaryaami0
Overview
The “Top-Down Trend and Key Levels with Swing Points” indicator is a comprehensive tool designed to enhance your technical analysis by integrating multiple trading concepts into a single, easy-to-use script. It combines higher timeframe trend analysis, key price levels, swing point detection, and ranging market identification to provide a holistic view of market conditions. This indicator is particularly useful for traders who employ multi-timeframe analysis, support and resistance levels, and price action strategies.
Key Features
1. Higher Timeframe Trend Background Shading:
• Purpose: Identifies the prevailing trend on a higher timeframe to align lower timeframe trading decisions with the broader market direction.
• How it Works: The indicator compares the current higher timeframe close with the previous one to determine if the trend is up, down, or ranging.
• Customization:
• Trend Timeframe: Set your preferred higher timeframe (e.g., Daily, Weekly).
• Up Trend Color & Down Trend Color: Customize the background colors for uptrends and downtrends.
• Ranging Market Color: A separate color to indicate when the market is moving sideways.
2. Key Price Levels:
• Previous Day High (PDH) and Low (PDL):
• Purpose: Identifies key support and resistance levels from the previous trading day.
• Visualization: Plots horizontal lines at PDH and PDL with labels.
• Customization: Option to show or hide these levels and customize their colors.
• Pre-Market High (PMH) and Low (PML):
• Purpose: Highlights the price range during the pre-market session, which can indicate potential breakout levels.
• Visualization: Plots horizontal lines at PMH and PML with labels.
• Customization: Option to show or hide these levels and customize their colors.
3. First 5-Minute Marker (F5H/F5L):
• Purpose: Marks the high or low of the first 5 minutes after the market opens, which is significant for intraday momentum.
• How it Works:
• If the first 5-minute high is above the Pre-Market High (PMH), an “F5H” label is placed at the first 5-minute high.
• If the first 5-minute high is below the PMH, an “F5L” label is placed at the first 5-minute low.
• Visualization: Labels are placed at the 9:35 AM candle (closing of the first 5 minutes), colored in purple by default.
• Customization: Option to show or hide the marker and adjust the marker color.
4. Swing Points Detection:
• Purpose: Identifies significant pivot points in price action to help recognize trends and reversals.
• How it Works: Uses left and right bars to detect pivot highs and lows, then determines if they are Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), or Lower Lows (LL).
• Visualization: Plots small markers (circles) with labels (HH, LH, HL, LL) at the corresponding swing points.
• Customization: Adjust the number of left and right bars for pivot detection and the size of the markers.
5. Ranging Market Detection:
• Purpose: Identifies periods when the market is consolidating (moving sideways) within a defined price range.
• How it Works: Calculates the highest high and lowest low over a specified period and determines if the price range is within a set percentage threshold.
• Visualization: Draws a gray box around the price action during the ranging period and labels the high and low prices at the end of the range.
• Customization: Adjust the range detection period and threshold, as well as the box color.
6. Trend Coloring on Chart:
• Purpose: Provides a visual cue for the short-term trend based on a moving average.
• How it Works: Colors the candles green if the price is above the moving average and red if below.
• Customization: Set the moving average length and customize the uptrend and downtrend colors.
How to Use the Indicator
1. Adding the Indicator to Your Chart:
• Copy the Pine Script code provided and paste it into the Pine Script Editor on TradingView.
• Click “Add to Chart” to apply the indicator.
2. Configuring Inputs and Settings:
• Access Inputs:
• Click on the gear icon next to the indicator’s name on your chart to open the settings.
• Customize Key Levels:
• Show Pre-Market High/Low: Toggle on/off.
• Show Previous Day High/Low: Toggle on/off.
• Show First 5-Minute Marker: Toggle on/off.
• Set Trend Parameters:
• Trend Timeframe for Background: Choose the higher timeframe for trend analysis.
• Moving Average Length for Bar Color: Set the period for the moving average used in bar coloring.
• Adjust Ranging Market Detection:
• Range Detection Period: Specify the number of bars to consider for range detection.
• Range Threshold (%): Set the maximum percentage range for the market to be considered ranging.
• Customize Visuals:
• Colors: Adjust colors for trends, levels, markers, and ranging market boxes.
• Label Font Size: Choose the size of labels displayed on the chart.
• Level Line Width: Set the thickness of the lines for key levels.
3. Interpreting the Indicator:
• Background Shading:
• Green Shade: Higher timeframe is in an uptrend.
• Red Shade: Higher timeframe is in a downtrend.
• Gray Box: Market is ranging (sideways movement).
• Key Levels and Markers:
• PDH and PDL Lines: Represent resistance and support from the previous day.
• PMH and PML Lines: Indicate potential breakout levels based on pre-market activity.
• F5H/F5L Labels: Early indication of intraday momentum after market open.
• Swing Point Markers:
• HH (Higher High): Suggests bullish momentum.
• LH (Lower High): May indicate a potential bearish reversal.
• HL (Higher Low): Supports bullish continuation.
• LL (Lower Low): Indicates bearish momentum.
• Ranging Market Box:
• Gray Box Around Price Action: Highlights consolidation periods where breakouts may occur.
• Range High and Low Labels: Provide the upper and lower bounds of the consolidation zone.
4. Applying the Indicator to Your Trading Strategy:
• Trend Alignment:
• Use the higher timeframe trend shading to align your trades with the broader market direction.
• Key Levels Trading:
• Watch for price reactions at PDH, PDL, PMH, and PML for potential entry and exit points.
• Swing Points Analysis:
• Identify trend continuations or reversals by observing the sequence of HH, HL, LH, and LL.
• Ranging Market Strategies:
• During ranging periods, consider range-bound trading strategies or prepare for breakout trades when the price exits the range.
• Intraday Momentum:
• Use the F5H/F5L marker to gauge early market sentiment and potential intraday trends.
Practical Tips
• Adjust Settings to Your Trading Style:
• Tailor the indicator’s inputs to match your preferred timeframes and trading instruments.
• Combine with Other Indicators:
• Use in conjunction with volume indicators, oscillators, or other technical tools for additional confirmation.
• Backtesting:
• Apply the indicator to historical data to observe how it performs and refine your settings accordingly.
• Stay Updated on Market Conditions:
• Be aware of news events or economic releases that may impact market behavior and the effectiveness of technical levels.
Customization Options
• Time Zone Adjustment:
• The script uses “America/New_York” time zone by default. Adjust the timezone variable in the script if your chart operates in a different time zone.
var timezone = "Your/Timezone"
• Session Times:
• Modify the Regular Trading Session and Pre-Market Session times in the indicator settings to align with the trading hours of different markets or exchanges.
• Visual Preferences:
• Colors: Personalize the indicator’s colors to suit your visual preferences or to enhance visibility.
• Label Sizes: Adjust label sizes if you find them too intrusive or not prominent enough.
• Marker Sizes: Further reduce or enlarge the swing point markers by modifying the swing_marker_size variable.
Understanding the Indicator’s Logic
1. Higher Timeframe Trend Analysis:
• The indicator retrieves the closing prices of a higher timeframe using the request.security() function.
• It compares the current higher timeframe close with the previous one to determine the trend direction.
2. Key Level Calculation:
• Previous Day High/Low: Calculated by tracking the highest and lowest prices of the previous trading day.
• Pre-Market High/Low: Calculated by monitoring price action during the pre-market session.
3. First 5-Minute Marker Logic:
• At 9:35 AM (end of the first 5 minutes after market open), the indicator evaluates whether the first 5-minute high is above or below the PMH.
• It then places the appropriate label (F5H or F5L) on the chart.
4. Swing Points Detection:
• The script uses ta.pivothigh() and ta.pivotlow() functions to detect pivot points.
• It then determines the type of swing point based on comparisons with previous swings.
5. Ranging Market Detection:
• The indicator looks back over a specified number of bars to find the highest high and lowest low.
• It calculates the percentage difference between these two points.
• If the difference is below the set threshold, the market is considered to be ranging, and a box is drawn around the price action.
Limitations and Considerations
• Indicator Limitations:
• Maximum Boxes and Labels: Due to Pine Script limitations, there is a maximum number of boxes and labels that can be displayed simultaneously.
• Performance Impact: Adding multiple visual elements (boxes, labels, markers) can affect the performance of the script on lower-end devices or with large amounts of data.
• Market Conditions:
• False Signals: Like any technical tool, the indicator may produce false signals, especially during volatile or erratic market conditions.
• Not a Standalone Solution: This indicator should be used as part of a comprehensive trading strategy, including risk management and other forms of analysis.
Conclusion
The “Top-Down Trend and Key Levels with Swing Points” indicator is a versatile tool that integrates essential aspects of technical analysis into one script. By providing insights into higher timeframe trends, highlighting key price levels, detecting swing points, and identifying ranging markets, it equips traders with valuable information to make more informed trading decisions. Whether you are a day trader looking for intraday opportunities or a swing trader aiming to align with the broader trend, this indicator can enhance your chart analysis and trading strategy.
Disclaimer
Trading involves significant risk, and it’s important to understand that past performance is not indicative of future results. This indicator is a tool to assist in analysis and should not be solely relied upon for making trading decisions. Always conduct thorough research and consider seeking advice from financial professionals before engaging in trading activities.
ADM Indicator [CHE] Comprehensive Description of the Three Market Phases for TradingView
Introduction
Financial markets often exhibit patterns that reflect the collective behavior of participants. Recognizing these patterns can provide traders with valuable insights into potential future price movements. The ADM Indicator is designed to help traders identify and capitalize on these patterns by detecting three primary market phases:
1. Accumulation Phase
2. Manipulation Phase
3. Distribution Phase
This indicator places labels on the chart to signify these phases, aiding traders in making informed decisions. Below is an in-depth explanation of each phase, including how the ADM Indicator detects them.
1. Accumulation Phase
Definition
The Accumulation Phase is a period where informed investors or institutions discreetly purchase assets before a potential price increase. During this phase, the price typically moves within a confined range between established highs and lows.
Characteristics
- Price Range Bound: The asset's price stays within the previous high and low after a timeframe change.
- Low Volatility: Minimal price movement indicates a balance between buyers and sellers.
- Steady Volume: Trading volume may remain relatively constant or show slight increases.
- Market Sentiment: General market interest is low, as the accumulation is not yet apparent to the broader market.
Detection with ADM Indicator
- Criteria: An accumulation is detected when the price remains within the previous high and low after a timeframe change.
- Indicator Action: At the end of the period, if accumulation has occurred, the indicator places a label "Accumulation" on the chart.
- Visual Cues: A yellow semi-transparent background highlights the accumulation phase, enhancing visual recognition.
Implications for Traders
- Entry Opportunity: Consider preparing for potential long positions before a possible upward move.
- Risk Management: Use tight stop-loss orders below the support level due to the defined trading range.
2. Manipulation Phase
Definition
The Manipulation Phase, also known as the Shakeout Phase, occurs when dominant market players intentionally move the price to trigger stop-loss orders and create panic among less-informed traders. This action generates liquidity and better entry prices for large positions.
Characteristics
- False Breakouts: The price moves above the previous high or below the previous low but quickly reverses.
- Increased Volatility: Sharp price movements occur without fundamental reasons.
- Stop-Loss Hunting: The price targets common stop-loss areas, triggering them before reversing.
- Emotional Trading: Retail traders may react impulsively, leading to poor trading decisions.
Detection with ADM Indicator
- Manipulation Up:
- Criteria: Detected when the price rises above the previous high and then falls back below it.
- Indicator Action: Places a label "Manipulation Up" on the chart at the point of detection.
- Manipulation Down:
- Criteria: Detected when the price falls below the previous low and then rises back above it.
- Indicator Action: Places a label "Manipulation Down" on the chart at the point of detection.
- Visual Cues:
- Manipulation Up: Blue background highlights the phase.
- Manipulation Down: Orange background highlights the phase.
Implications for Traders
- Caution Advised: Be wary of false signals and avoid overreacting to sudden price changes.
- Preparation for Next Phase: Use this phase to anticipate potential distribution and adjust strategies accordingly.
3. Distribution Phase
Definition
The Distribution Phase occurs when the institutions or informed investors who accumulated positions start selling to the general market at higher prices. This phase often follows a Manipulation Phase and may signal an impending trend reversal.
Characteristics
- Price Reversal: The price moves in the opposite direction of the prior manipulation.
- High Trading Volume: Increased selling activity as large players offload positions.
- Trend Weakening: The previous trend loses momentum, indicating a potential shift.
- Market Sentiment Shift: Optimism fades, and uncertainty or pessimism may emerge.
Detection with ADM Indicator
- Distribution Up:
- Criteria: Detected after a verified Manipulation Up when the price subsequently falls below the previous low.
- Indicator Action: Places a label "Distribution Up" on the chart.
- Distribution Down:
- Criteria: Detected after a verified Manipulation Down when the price subsequently rises above the previous high.
- Indicator Action: Places a label "Distribution Down" on the chart.
- Visual Cues:
- Distribution Up: Purple background highlights the phase.
- Distribution Down: Maroon background highlights the phase.
Implications for Traders
- Exit Signals: Consider closing long positions if in a Distribution Up phase.
- Short Selling Opportunities: Potential to enter short positions anticipating a downtrend.
Using the ADM Indicator on TradingView
Indicator Overview
The ADM Indicator automates the detection of Accumulation, Manipulation, and Distribution phases by analyzing price movements relative to previous highs and lows on a selected timeframe. It provides visual cues and labels on the chart, helping traders quickly identify the current market phase.
Features
- Multi-Timeframe Analysis: Choose from auto, multiplier, or manual timeframe settings.
- Visual Labels: Clear labeling of market phases directly on the chart.
- Background Highlighting: Distinct background colors for each phase.
- Customizable Settings: Adjust colors, styles, and display options.
- Period Separators: Optional separators delineate different timeframes.
Interpreting the Indicator
1. Accumulation Phase
- Detection: Price stays within the previous high and low after a timeframe change.
- Label: "Accumulation" placed at the period's end if detected.
- Background: Yellow semi-transparent color.
- Action: Prepare for potential long positions.
2. Manipulation Phase
- Detection:
- Manipulation Up: Price rises above previous high and then falls back below.
- Manipulation Down: Price falls below previous low and then rises back above.
- Labels: "Manipulation Up" or "Manipulation Down" placed at detection.
- Background:
- Manipulation Up: Blue color.
- Manipulation Down: Orange color.
- Action: Exercise caution; avoid impulsive trades.
3. Distribution Phase
- Detection:
- Distribution Up: After a Manipulation Up, price falls below previous low.
- Distribution Down: After a Manipulation Down, price rises above previous high.
- Labels: "Distribution Up" or "Distribution Down" placed at detection.
- Background:
- Distribution Up: Purple color.
- Distribution Down: Maroon color.
- Action: Consider exiting positions or entering counter-trend trades.
Configuring the Indicator
- Timeframe Type: Select Auto, Multiplier, or Manual for analysis timeframe.
- Multiplier: Set a custom multiplier when using "Multiplier" type.
- Manual Resolution: Define a specific timeframe with "Manual" option.
- Separator Settings: Customize period separators for visual clarity.
- Label Display Options: Choose to display all labels or only the most recent.
- Visualization Settings: Adjust colors and styles for personal preference.
Practical Tips
- Combine with Other Analysis Tools: Use alongside volume indicators, trend lines, or other technical tools.
- Backtesting: Review historical data to understand how the indicator signals would have impacted past trades.
- Stay Informed: Keep abreast of market news that might affect price movements beyond technical analysis.
- Risk Management: Always employ stop-loss orders and position sizing strategies.
Conclusion
The ADM Indicator is a valuable tool for traders seeking to understand and leverage market phases. By detecting Accumulation, Manipulation, and Distribution phases through specific price action criteria, it provides actionable insights into market dynamics.
Understanding the precise conditions under which each phase is detected empowers traders to make more informed decisions. Whether preparing for potential breakouts during accumulation, exercising caution during manipulation, or adjusting positions during distribution, the ADM Indicator aids in navigating the complexities of the financial markets.
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
This indicator is inspired by the Super 6x Indicators: RSI, MACD, Stochastic, Loxxer, CCI, and Velocity . A special thanks to Loxx for their relentless effort, creativity, and contributions to the TradingView community, which served as a foundation for this work.
Best regards Chervolino
Overview of the Timeframe Levels in the `autotimeframe()` Function
The `autotimeframe()` function automatically adjusts the higher timeframe based on the current chart timeframe. Here are the specific timeframe levels used in the function:
- Current Timeframe ≤ 1 Minute
→ Higher Timeframe: 240 Minutes (4 Hours)
- Current Timeframe ≤ 5 Minutes
→ Higher Timeframe: 1 Day
- Current Timeframe ≤ 1 Hour
→ Higher Timeframe: 3 Days
- Current Timeframe ≤ 4 Hours
→ Higher Timeframe: 7 Days
- Current Timeframe ≤ 12 Hours
→ Higher Timeframe: 1 Month
- Current Timeframe ≤ 1 Day
→ Higher Timeframe: 3 Months
- Current Timeframe ≤ 7 Days
→ Higher Timeframe: 6 Months
- For All Higher Timeframes (over 7 Days)
→ Higher Timeframe: 12 Months
Summary:
The function assigns a corresponding higher timeframe based on the current timeframe to optimize the analysis:
- 1 Minute or Less → 4 Hours
- Up to 5 Minutes → 1 Day
- Up to 1 Hour → 3 Days
- Up to 4 Hours → 7 Days
- Up to 12 Hours → 1 Month
- Up to 1 Day → 3 Months
- Up to 7 Days → 6 Months
- Over 7 Days → 12 Months
This automated adjustment ensures that the indicator works effectively across different chart timeframes without requiring manual changes.
ATR% Multiple from Key Moving AverageThis script gives signal when the ATR% multiple from any chosen moving average is beyond the configurable threshold value. This indicator quantifies how extended the stock is from a given key moving average.
A lot of traders use ATR% multiple from 10DMA, 21EMA, 50SMA or 200SMA to determine how extended a stock is and accordingly sell partials or exit. By default the indicator takes 50SMA and when the ATR% multiple is greater than 7 then it gives the signal to take partials. You can back test this indicator with previous trades and determine the ideal threshold for the signal. For small and midcaps a threshold of 7 to 10 ATR% multiples from 50SMA is where partials can be taken while large caps can revert to mean even earlier at 3 to 5 ATR% multiples from 50SMA.
You can modify this script and use it anyway you please as long as you make it opensource on TradingView.
Moving Average with Buy/Sell SignalsBINANCE:BTCUSD
Pine Script Brief: "44 Moving Average with Buy/Sell Signals"
This Pine Script is designed to generate buy and sell signals based on the interaction of the price with the 44-period Simple Moving Average (SMA). It also considers the closing behavior of the last five candles to further refine the conditions for generating signals. The script is intended for use in technical analysis for trading strategies on platforms like TradingView.
Features:
44-Period Simple Moving Average (SMA):
The script calculates and plots the 44-period SMA of the closing price on the chart, providing a trend-following indicator.
The SMA is used as a key level to determine when price action is "touching" or interacting with the moving average.
Buy and Sell Signal Logic:
Buy Signal:
The candle is green (close > open).
The candle's high and low are around the 44 SMA, indicating the candle is "touching" or near the moving average.
At least 2 of the last 5 candles must have closed above the 44 SMA.
The 44 SMA is positioned below the midpoint of the current candle.
Sell Signal:
The candle is red (close < open).
The candle's high and low are around the 44 SMA.
At least 2 of the last 5 candles must have closed below the 44 SMA.
The 44 SMA is positioned above the midpoint of the current candle.
Label Plotting:
The script uses the plotSignal function to plot buy and sell labels directly on the chart. The labels are plotted at the low of a green candle (for buy signals) and the high of a red candle (for sell signals).
Labels are color-coded for quick identification: green for buy and red for sell.
EMA for Smoothing (Optional):
An optional Exponential Moving Average (EMA) is plotted for additional trend smoothing, allowing users to visualize another moving average for possible trend-following strategies.
The length of the EMA is customizable, and it is plotted on the chart alongside the 44 SMA.
Alert Conditions:
Alerts can be set up for both buy and sell signals, notifying the user when these conditions are met. The alerts are triggered whenever the script detects a valid buy or sell signal.
Customizable Inputs:
The script allows customization of the following:
Smoothing Length: For the optional EMA line.
Tolerance: For adjusting the proximity check (candle touching the 44 SMA).
Styling: The color and text of the buy and sell labels can be customized.
Usage:
This script can be used by traders who want to identify possible entry and exit points based on price interaction with the 44-period moving average, combined with the behavior of previous candles. It is suitable for trend-following strategies and can be used in conjunction with other indicators to refine trading decisions.
Key Benefits:
Provides visual signals (buy/sell) directly on the chart.
Considers both immediate price action and historical trends (previous candles).
Offers customization for moving averages and labels.
Alerts can be set for automated notifications.
This Pine Script helps traders make informed decisions by combining the reliability of moving averages with price action and historical candle behavior, enhancing trading strategies based on trend-following principles.
Candle Average PriceOverview
The Candle Average Price indicator is a custom tool designed to help traders identify key price levels by calculating and displaying the average price of recent candles on your TradingView chart. This indicator computes the average price based on a user-defined percentage of each candle's range over a specified number of candles. It then plots a horizontal line representing this average, covering only the last N candles as defined by you.
Key Features
Customizable Number of Candles: Define how many past candles to include in the average calculation.
Adjustable Percentage Level: Choose any percentage of each candle's range (from low to high) to calculate the price level.
Dynamic Horizontal Line: The indicator plots a horizontal line representing the calculated average, updating with each new bar and covering only the specified number of candles.
How It Works
Price at Specified Percentage:
For each candle, the indicator calculates a price level at your chosen percentage within the candle's range.
Formula: Price = Low + (Percentage Level / 100) * (High - Low)
Average Price Calculation:
It computes the average of these price levels over the last N candles.
Formula: Average Price = Sum of Price Levels over N Candles / N
Horizontal Line Plotting:
A horizontal line is drawn at the calculated average price level.
The line spans from N candles ago to the current candle, covering exactly the number of candles specified.
Input Parameters
Number of Candles (length):
Description: The number of recent candles over which the average is calculated.
Default Value: 4
Range: 1 to any positive integer.
Usage: Adjust this to include more or fewer candles in the calculation. A higher number smooths the average, while a lower number makes it more responsive to recent price changes.
Percentage Level (%):
Description: The percentage within each candle's range to calculate the price level.
Default Value: 50%
Range: 0% (candle low) to 100% (candle high).
Usage: Modify this to focus on different parts of each candle:
0%: Uses the low of each candle.
50%: Uses the midpoint of each candle.
100%: Uses the high of each candle.
Custom Percentage: Any value between 0% and 100% to target specific levels.
How to Use the Indicator
Adding the Indicator to Your Chart:
Open the TradingView chart of your preferred financial instrument.
Click on Indicators at the top of the chart.
Select Invite-Only Scripts if you've saved the script there, or use the Pine Editor to paste and apply the script.
Configuring the Settings:
After adding the indicator, click on the gear icon ⚙️ next to its name to open settings.
Adjust the Number of Candles (length) to your desired period.
Set the Percentage Level (%) (percentage) to the specific level within each candle's range you want to analyze.
Interpreting the Horizontal Line:
The horizontal line represents the average price calculated based on your inputs.
It updates with each new bar, always reflecting the most recent data over the specified number of candles.
The line only spans the last N candles, providing a focused view of recent price action.
Practical Applications
Identifying Support and Resistance Levels:
The average price line can act as a dynamic support or resistance level.
Traders can watch for price reactions around this line to make trading decisions.
Trend Analysis:
Observing how the price interacts with the average line can provide insights into the current trend's strength and potential reversals.
Entry and Exit Signals:
Use the line as a reference point for setting stop-loss orders or taking profits.
Combine it with other indicators for more robust trading signals.
In highly volatile markets, consider increasing the number of candles to avoid false signals.
Limitations and Considerations
Not a Standalone Tool:
This indicator should not be used in isolation for making trading decisions. Always consider additional analysis.
Market Conditions Matter:
The indicator may perform differently in trending markets versus ranging markets.
Data Refresh:
Ensure you have a stable internet connection and that your TradingView chart is set to the correct time frame.
Conclusion
The Candle Average Price indicator is a flexible and user-friendly tool that provides valuable insights into recent price action by calculating the average price based on your specific criteria. By adjusting the parameters to suit your trading style, you can incorporate this indicator into your technical analysis to help identify potential trading opportunities.
Disclaimer: Trading financial instruments involves risk, and past performance is not indicative of future results. This indicator is a tool to assist in analysis and should not be considered financial advice.
Happy Trading!
Simplified Momentum ScoreIndicator Name: Simplified Momentum Score
Description:
The Simplified Momentum Score indicator calculates the normalized price momentum of an asset over a user-defined period (e.g., 30 days). It provides a single actionable score between 0 and 1, making it easy to compare the relative strength of different tokens or assets:
1: Strongest momentum (best performer).
0: Weakest momentum (worst performer).
How to Use:
Apply this indicator to any chart in TradingView.
Use the normalized score to rank tokens or assets:
Closer to 1: Indicates strong recent price performance.
Closer to 0: Indicates weak recent price performance.
Customize the momentum period to match your trading strategy.
This tool is ideal for quick comparative analysis of multiple tokens to identify top-performing assets. Keep it simple, actionable, and effective! 🚀
Mean Price
^^ Plotting switched to Line.
This method of financial time series (aka bars) downsampling is literally, naturally, and thankfully the best you can do in terms of maximizing info gain. You can finally chill and feed it to your studies & eyes, and probably use nothing else anymore.
(HL2 and occ3 also have use cases, but other aggregation methods? Not really, even if they do, the use cases are ‘very’ specific). Tho in order to understand why, you gotta read the following wall, or just believe me telling you, ‘I put it on my momma’.
The true story about trading volumes and why this is all a big misdirection
Actually, you don’t need to be a quant to get there. All you gotta do is stop blindly following other people’s contextual (at best) solutions, eg OC2 aggregation xD, and start using your own brain to figure things out.
Every individual trade (basically an imprint on 1D price space that emerges when market orders hit the order book) has several features like: price, time, volume, AND direction (Up if a market buy order hits the asks, Down if a market sell order hits the bids). Now, the last two features—volume and direction—can be effectively combined into one (by multiplying volume by 1 or -1), and this is probably how every order matching engine should output data. If we’re not considering size/direction, we’re leaving data behind. Moreover, trades aren’t just one-price dots all the time. One trade can consume liquidity on several levels of the order book, so a single trade can be several ticks big on the price axis.
You may think now that there are no zero-volume ticks. Well, yes and no. It depends on how you design an exchange and whether you allow intra-spread trades/mid-spread trades (now try to Google it). Intra-spread trades could happen if implemented when a matching engine receives both buy and sell orders at the same microsecond period. This way, you can match the orders with each other at a better price for both parties without even hitting the book and consuming liquidity. Also, if orders have different sizes, the remaining part of the bigger order can be sent to the order book. Basically, this type of trade can be treated as an OTC trade, having zero volume because we never actually hit the book—there’s no imprint. Another reason why it makes sense is when we think about volume as an impact or imbalance act, and how the medium (order book in our case) responds to it, providing information. OTC and mid-spread trades are not aggressive sells or buys; they’re neutral ticks, so to say. However huge they are, sometimes many blocks on NYSE, they don’t move the price because there’s no impact on the medium (again, which is the order book)—they’re not providing information.
... Now, we need to aggregate these trades into, let’s say, 1-hour bars (remember that a trade can have either positive or negative volume). We either don’t want to do it, or we don’t have this kind of information. What we can do is take already aggregated OHLC bars and extract all the info from them. Given the market is fractal, bars & trades gotta have the same set of features:
- Highest & lowest ticks (high & low) <- by price;
- First & last ticks (open & close) <- by time;
- Biggest and smallest ticks <- by volume.*
*e.g., in the array ,
2323: biggest trade,
-1212: smallest trade.
Now, in our world, somehow nobody started to care about the biggest and smallest trades and their inclusion in OHLC data, while this is actually natural. It’s the same way as it’s done with high & low and open & close: we choose the minimum and maximum value of a given feature/axis within the aggregation period.
So, we don’t have these 2 values: biggest and smallest ticks. The best we can do is infer them, and given the fact the biggest and smallest ticks can be located with the same probability everywhere, all we can do is predict them in the middle of the bar, both in time and price axes. That’s why you can see two HL2’s in each of the 3 formulas in the code.
So, summed up absolute volumes that you see in almost every trading platform are actually just a derivative metric, something that I call Type 2 time series in my own (proprietary ‘for now’) methods. It doesn’t have much to do with market orders hitting the non-uniform medium (aka order book); it’s more like a statistic. Still wanna use VWAP? Ok, but you gotta understand you’re weighting Type 1 (natural) time series by Type 2 (synthetic) ones.
How to combine all the data in the right way (khmm khhm ‘order’)
Now, since we have 6 values for each bar, let’s see what information we have about them, what we don’t have, and what we can do about it:
- Open and close: we got both when and where (time (order) and price);
- High and low: we got where, but we don’t know when;
- Biggest & smallest trades: we know shit, we infer it the way it was described before.'
By using the location of the close & open prices relative to the high & low prices, we can make educated guesses about whether high or low was made first in a given bar. It’s not perfect, but it’s ultimately all we can do—this is the very last bit of info we can extract from the data we have.
There are 2 methods for inferring volume delta (which I call simply volume) that are presented everywhere, even here on TradingView. Funny thing is, this is actually 2 parts of the 1 method. I wonder how many folks see through it xD. The same method can be used for both inferring volume delta AND making educated guesses whether high or low was made first.
Imagine and/or find the cases on your charts to understand faster:
* Close > open means we have an up bar and probably the volume is positive, and probably high was made later than low.
* Close < open means we have a down bar and probably the volume is negative, and probably low was made later than high.
Now that’s the point when you see that these 2 mentioned methods are actually parts of the 1 method:
If close = open, we still have another clue: distance from open/close pair to high (HC), and distance from open/close pair to low (LC):
* HC < LC, probably high was made later.
* HC > LC, probably low was made later.
And only if close = open and HC = LC, only in this case we have no clue whether high or low was made earlier within a bar. We simply don’t have any more information to even guess. This bar is called a neutral bar.
At this point, we have both time (order) and price info for each of our 6 values. Now, we have to solve another weighted average problem, and that’s it. We’ll weight prices according to the order we’ve guessed. In the neutral bar case, open has a weight of 1, close has a weight of 3, and both high and low have weights of 2 since we can’t infer which one was made first. In all cases, biggest and smallest ticks are modeled with HL2 and weighted like they’re located in the middle of the bar in a time sense.
P.S.: I’ve also included a "robust" method where all the bars are treated like neutral ones. I’ve used it before; obviously, it has lesser info gain -> works a bit worse.
BTC Seasonality Strategy (Weekly)This strategy identifies potential weekend opportunities in Bitcoin (BTC) markets by leveraging the concept of seasonality, entering a position at a predefined time and day, and exiting at a specified time and day.
Key Features
Customizable Time and Day Selection:
Users can select the entry and exit days and corresponding times (in EST).
Directional Flexibility:
The strategy allows traders to choose between long or short positions.
TradingView Compliance:
The script adheres to TradingView's house rules, avoids overly complex conditions, and provides clear user-configurable inputs.
How It Works
The script determines the current weekday and hour in EST, converting TradingView's UTC time for accurate comparisons.
If the current day and hour match the selected entry conditions, a trade (long or short) is opened.
The position is closed when the current day and hour match the specified exit conditions.
Theoretical Basis
Market Seasonality:
The concept of seasonality in financial markets refers to predictable patterns based on time, such as weekends or specific days of the week. Studies have shown that cryptocurrency markets exhibit unique trading behaviors during weekends due to reduced institutional activity and higher retail participation behavioral Biases**:
Retail traders often dominate weekend markets, potentially causing predictable inefficiencies .
Reverences**
Baur, D. G., Hong, K., & Lee, A. D. (2018). Bitcoin: Medium of exchange or speculative assets? Journal of International Financial Markets, Institutions and Money, 54, 177–189.
Urquhart, A. (2016). The inefficiency of Bitcoin. Economics Letters, 148, 80–82.
MACD, ADX & RSI -> for altcoins# MACD + ADX + RSI Combined Indicator
## Overview
This advanced technical analysis tool combines three powerful indicators (MACD, ADX, and RSI) into a single view, providing a comprehensive analysis of trend, momentum, and divergence signals. The indicator is designed to help traders identify potential trading opportunities by analyzing multiple aspects of price action simultaneously.
## Components
### 1. MACD (Moving Average Convergence Divergence)
- **Purpose**: Identifies trend direction and momentum
- **Components**:
- Fast EMA (default: 12 periods)
- Slow EMA (default: 26 periods)
- Signal Line (default: 9 periods)
- Histogram showing the difference between MACD and Signal line
- **Visual**:
- Blue line: MACD line
- Orange line: Signal line
- Green/Red histogram: MACD histogram
- **Interpretation**:
- Histogram color changes indicate potential trend shifts
- Crossovers between MACD and Signal lines suggest entry/exit points
### 2. ADX (Average Directional Index)
- **Purpose**: Measures trend strength and direction
- **Components**:
- ADX line (default threshold: 20)
- DI+ (Positive Directional Indicator)
- DI- (Negative Directional Indicator)
- **Visual**:
- Navy blue line: ADX
- Green line: DI+
- Red line: DI-
- **Interpretation**:
- ADX > 20 indicates a strong trend
- DI+ crossing above DI- suggests bullish momentum
- DI- crossing above DI+ suggests bearish momentum
### 3. RSI (Relative Strength Index)
- **Purpose**: Identifies overbought/oversold conditions and divergences
- **Components**:
- RSI line (default: 14 periods)
- Divergence detection
- **Visual**:
- Purple line: RSI
- Horizontal lines at 70 (overbought) and 30 (oversold)
- Divergence labels ("Bull" and "Bear")
- **Interpretation**:
- RSI > 70: Potentially overbought
- RSI < 30: Potentially oversold
- Bullish/Bearish divergences indicate potential trend reversals
## Alert System
The indicator includes several automated alerts:
1. **MACD Alerts**:
- Rising to falling histogram transitions
- Falling to rising histogram transitions
2. **RSI Divergence Alerts**:
- Bullish divergence formations
- Bearish divergence formations
3. **ADX Trend Alerts**:
- Strong trend development (ADX crossing threshold)
- DI+ crossing above DI- (bullish)
- DI- crossing above DI+ (bearish)
## Settings Customization
All components can be fine-tuned through the settings panel:
### MACD Settings
- Fast Length
- Slow Length
- Signal Smoothing
- Source
- MA Type options (SMA/EMA)
### ADX Settings
- Length
- Threshold level
### RSI Settings
- RSI Length
- Source
- Divergence calculation toggle
## Usage Guidelines
### Entry Signals
Strong entry signals typically occur when multiple components align:
1. MACD histogram color change
2. ADX showing strong trend (>20)
3. RSI showing divergence or leaving oversold/overbought zones
### Exit Signals
Consider exits when:
1. MACD crosses signal line in opposite direction
2. ADX shows weakening trend
3. RSI reaches extreme levels with divergence
### Risk Management
- Use the indicator as part of a complete trading strategy
- Combine with price action and support/resistance levels
- Consider multiple timeframe analysis for confirmation
- Don't rely solely on any single component
## Technical Notes
- Built for TradingView using Pine Script v5
- Compatible with all timeframes
- Optimized for real-time calculation
- Includes proper error handling and NA value management
- Memory-efficient calculations for smooth performance
## Installation
1. Copy the provided Pine Script code
2. Open TradingView Chart
3. Create New Indicator -> Pine Editor
4. Paste the code and click "Add to Chart"
5. Adjust settings as needed through the indicator settings panel
## Version Information
- Version: 2.0
- Last Updated: November 2024
- Platform: TradingView
- Language: Pine Script v5
Zigzag3 -Invincible3Description:
Zigzag3 - Invincible3 is a powerful and flexible support and resistance indicator for TradingView. Utilizing an enhanced ZigZag algorithm and Dow Theory principles, it detects price pivots, higher highs (HH), lower highs (LH), higher lows (HL), and lower lows (LL). The indicator draws lines and labels to visualize these pivots, making it easier to identify market structure, trends, and potential reversal points.
The Length input allows traders to control the sensitivity of pivot detection.
Support and Resistance Lines:
Displays dotted and solid SR lines based on significant pivots to highlight key market zones.
Option to extend support/resistance lines dynamically with real-time progression for the latest pivot.
Labels for Dow Theory Points:
Mark higher highs, lower highs, higher lows, and lower lows with customizable colors.
Identifies market direction and potential breakout levels with visual clarity.
ZigZag Line Visualization:
Toggle the ZigZag lines to connect pivots for a better understanding of price movement.
Dynamic Dotted Line Progression:
A dotted line extends in real-time from the most recent significant pivot point, aiding in quick analysis.
This indicator is ideal for traders looking to analyze market structure, identify trends, and spot potential reversals. It can be used as a standalone tool or in combination with other strategies for enhanced precision.
ICT Candle Block (fadi)ICT Candle Block
When trading using ICT concepts, it is often beneficial to treat consecutive candles of the same color as a single entity. This approach helps traders identify Order Blocks, liquidity voids, and other key trading signals more effectively.
However, in situations where the market becomes choppy or moves slowly, recognizing continuous price movement can be challenging.
The ICT Candle Block indicator addresses these challenges by combining consecutive candles of the same color into a single entity. It redraws the resulting candles, making price visualization much easier and helping traders quickly identify key trading signals.
FVGs and Blocks
In the above snapshot, FVGs/Liquidity Voids, Order Blocks, and Breaker Blocks are easily identified. By analyzing the combined candles, traders can quickly determine the draw on liquidity and potential price targets using ICT concepts.
Unlike traditional higher timeframes that rigidly combine lower timeframe candles based on specific start and stop times, this indicator operates as a "mixed timeframe." It combines all buying and all selling activities into a single candle, regardless of when the transactions started and ended.
Limitations
There are currently TradingView limitations that affect the functionality of this indicator:
TradingView does not have a Candle object; therefore, this indicator relies on using boxes and lines to mimic the candles. This results in wider candles than expected, leading to misalignment with the time axis below (plotcandle is not the answer).
There is a limit on the number of objects that can be drawn on a chart. A maximum of 500 candles has been set.
A rendering issue may cause a sideways box to appear across the chart. This is a display bug in TradingView; scroll to the left until it clears.
ADX Breakout Strategy█ OVERVIEW
The ADX Breakout strategy leverages the Average Directional Index (ADX) to identify and execute breakout trades within specified trading sessions. Designed for the NQ and ES 30-minute charts, this strategy aims to capture significant price movements while managing risk through predefined stop losses and trade limits.
This strategy was taken from a strategy that was posted on YouTube. I would link the video, but I believe is is "against house rules".
█ CONCEPTS
The strategy is built upon the following key concepts:
ADX Indicator: Utilizes the ADX to gauge the strength of a trend. Trades are initiated when the ADX value is below a certain threshold, indicating potential for trend development.
Trade Session Management: Limits trading to specific hours to align with optimal market activity periods.
Risk Management: Implements a fixed dollar stop loss and restricts the number of trades per session to control exposure.
█ FEATURES
Customizable Stop Loss: Set your preferred stop loss amount to manage risk effectively.
Trade Session Configuration: Define the trading hours to focus on the most active market periods.
Entry Conditions: Enter long positions when the price breaks above the highest close in the lookback window and the ADX indicates potential trend strength.
Trade Limits: Restrict the number of trades per session to maintain disciplined trading.
Automated Exit: Automatically closes all positions at the end of the trading session to avoid overnight risk.
█ HOW TO USE
Configure Inputs :
Stop Loss ($): Set the maximum loss per trade.
Trade Session: Define the active trading hours.
Highest Lookback Window: Specify the number of bars to consider for the highest close.
Apply the Strategy :
Add the ADX Breakout strategy to your chart on TradingView.
Ensure you are using a 30-minute timeframe for optimal performance.
█ LIMITATIONS
Market Conditions: The strategy is optimized for trending markets and may underperform in sideways or highly volatile conditions.
Timeframe Specific: Designed specifically for 30-minute charts; performance may vary on different timeframes.
Single Asset Focus: Primarily tested on NQ and ES instruments; effectiveness on other symbols is not guaranteed.
█ DISCLAIMER
This ADX Breakout strategy is provided for educational and informational purposes only. It is not financial advice and should not be construed as such. Trading involves significant risk, and you may incur substantial losses. Always perform your own analysis and consider your financial situation before using this or any other trading strategy. The source material for this strategy is publicly available in the comments at the beginning of the code script. This strategy has been published openly for anyone to review and verify its methodology and performance.
Volume HighlightVolume Highlight
Description:
This script helps users analyze trading volume by:
1. Highlighting the highest volume bars:
• Trading sessions with volume equal to or exceeding the highest value over the last 20 periods are displayed in purple.
• Other sessions are displayed in light gray.
2. Displaying the 20-period SMA (Simple Moving Average):
• A 20-period SMA line of the volume is included to track the general trend of trading volume.
Key Features:
• Color-coded Highlights:
• Quickly identify trading sessions with significant volume spikes.
• 20-Period SMA Line:
• Observe the overall trend of trading volume.
• Intuitive Volume Bars:
• Volume bars are clearly displayed for easy interpretation.
How to Use:
1. Add the script to your chart on TradingView.
2. Look at the color of the volume bars:
• Purple: Sessions with the highest trading volume in the past 20 periods.
• Light gray: Other sessions.
3. Use the 20-period SMA line to analyze volume trends.
Purpose:
• Analyze market momentum through trading volume.
• Support trading decisions by identifying significant volume spikes.
Illustration:
• A chart showing color-coded volume bars and the 20-period SMA line.
