3 Fib EMAs To Scalp Them AllThe "3 Fib EMAs To Scalp Them All" was made in order to clear up when we should look for shorts, longs, or walk away. Also it can alert you when a trend starts, or when there is a possible reversal. I use it for scalping/day trading in 5m-1h timeframes.
1. EMAs: By default, the indicator uses Fibonacci numbers (21, 55, 233), but you can change them.
2. Color Changes: The color of the Micro EMA line changes depending on its relation to the Mid and Macro EMAs.
When Micro EMA < Mid < Macro EMA, it turns red, indicating a potential bearish trend - that's when you should look for shorts
When Micro EMA > Mid > Macro EMA, it turns green, indicating a potential bullish trend - that's when you should look for longs
A white Micro EMA is when you need to take some rest, enjoy your coffee, and avoid overtrading.
3. Signals: The indicator provides visual signals in the form of diamonds and crosses and corresponding alert signals.
A red diamond above the bar signals a potential beginning of a downtrend
A red cross above the bar signals the end of the downtrend and can be used as a signal for a possible reversal up/breakout.
A green diamond below the bar signals a potential beginning of a downtrend,
A green cross below the bar signals the end of the uptrend and can be used as a signal for a possible reversal down/breakout.
4. Alerts: For algo traders and people who prefer to stay away from the monitor... there are alerts for every signal.
Friendly note: Don't blindly follow the signals for your long and short entries. The signals only pop up when the EMA cross value gets a confirmation. A smart move would be to wait for a retracement to the EMA line and use momentum indicators like market cipher B to pinpoint those ideal entry points.
النطاقات والقنوات
tlc with False BreakoutThe strategy aims to identify a trend line channel with the potential for a false breakout. Here's an explanation of the strategy:
The script starts by defining the input parameters. The lookback parameter determines the number of previous bars to consider for detecting the trend lines, and the threshold parameter controls the sensitivity of the trend line detection.
The script then initializes variables to store the trend lines, tap count, and the false breakout signal.
Inside the loop, the script iterates over the specified number of bars (lookback) to identify the trend lines. It checks if the current high is greater than the previous and next highs to identify an upper trend line and sets it using the line.new function. Similarly, it checks if the current low is smaller than the previous and next lows to identify a lower trend line and sets it.
The script also keeps track of the price levels of the upper and lower trend lines using the variables upperTrendLinePrice and lowerTrendLinePrice. These price levels are obtained using the line.get_y1 function.
After the fourth tap (when tapCount is equal to 4), the script checks if the current close price is above the upper trend line or below the lower trend line. If this condition is met, it sets the falseBreakout variable to true, indicating a potential false breakout.
Finally, the script plots a shape marker (plotshape) when a false breakout occurs. This is represented by an orange label displayed below the bar.
At the end of the script, the line.delete function is used to remove the old trend lines when the script reaches the last bar (barstate.islast).
By using this strategy, you can visually identify trend line channels where the upper and lower lines touch higher highs or lower highs and higher lows or lower lows. Additionally, it provides a false breakout signal when the price breaks above the upper trend line or below the lower trend line on the fifth tap.
Super Secret 200 EMAThe indicator is called "Super Secret 200 EMA." It combines two technical indicators, the Supertrend and the 200 Exponential Moving Average (EMA), to generate buy and sell opportunities in a trading chart.
Here's how the indicator works and how you can use it:
Supertrend Calculation:
The Supertrend indicator helps identify the current trend in the market. It uses two parameters: Length and Multiplier.
Length: This parameter determines the number of periods used for the calculation.
Multiplier: It controls the width of the Supertrend line, indicating the level of volatility considered in the calculation.
The Supertrend is calculated by looping through the historical data from length to 1.
For each period, it checks whether the closing price has increased or decreased compared to the previous period.
If the closing price has increased, it updates the highestHigh value with the maximum of the current highest high and the high of the current period.
If the closing price has decreased, it updates the lowestLow value with the minimum of the current lowest low and the low of the current period.
Finally, it calculates the Supertrend value using the following formula:
If the change in the closing price is positive: Supertrend = lowestLow + (multiplier * Average True Range (ATR))
If the change in the closing price is negative: Supertrend = highestHigh - (multiplier * ATR)
The Supertrend line will be green if it is above the 200 EMA line and red if it is below.
200 EMA Calculation:
The 200 EMA is a widely used moving average indicator that gives more weight to recent prices.
The EMA period is set to 200 in this case.
The 200 EMA is calculated using the EMA formula, taking into account the closing prices over the specified period.
Plotting:
The Supertrend and 200 EMA lines are plotted on the chart using the plot function.
The Supertrend line is colored green if it is above the 200 EMA line and red if it is below.
The 200 EMA line is colored green if the closing price is above it and red if it is below.
Buy and Sell Conditions:
The indicator determines the buy and sell conditions based on the crossover and crossunder of the closing price with the 200 EMA line and the Supertrend line.
Buy Condition: A buy signal is generated when the closing price crosses above the 200 EMA line and is also above the Supertrend line.
Sell Condition: A sell signal is generated when the closing price crosses below the 200 EMA line and is also below the Supertrend line.
Plotting Buy and Sell Signals:
You can use this indicator to identify potential buy and sell opportunities in your trading strategy. However, please note that this is a simplified explanation, and it's essential to thoroughly understand the indicator's principles and backtest it with historical data before relying on it for actual trading decisions.
Use this with other confluences for best results and never rely on a single indicator
Liquidity Channel with B/SIndicator - Liquidity Level
Which calculates the liquidity levels based on the highest high and lowest low of the specified period. It determines the middle line, upper line, and lower line of the liquidity channel. The liquidity level is the average of the upper and lower lines, and the liquidity level distance is half of the difference between the upper and lower lines.
Here, the code determines if the conditions for overbought and oversold signals are met. It compares the current closing price with the previous opening price to determine the color of the bar (red or green). If the conditions are met and the bar color matches the expected direction (red for overbought and green for oversold), the respective signals are triggered.
The code plots buy and sell signals on the chart using shape labels. It displays "Buy" labels below the bars for buy signals and "Sell" labels above the bars for sell signals. Additionally, it colors the bars in gray. The code also sets up alert conditions to send notifications when buy or sell signals occur.
*************** Please note that this is a high-level overview of the code's functionality. The specific details and calculations may vary based on the parameters and settings provided in the code.
*************** Remember, trading involves risks, and it's important to thoroughly test any strategy and consider risk management principles before using it in live trading. It's recommended to consult with a knowledgeable financial advisor or professional trader for guidance and assistance in developing and implementing trading strategies.
***************Happy trading..
I will try to share my most commonly used strategies with you as much as possible. For this, you can follow me as a source of motivation, and if you like the indicators, you can give me a rocket to make me happy, my friends! :))
BB and KC StrategyThis script is designed as a TradingView strategy that uses Bollinger Bands (BB) and Keltner Channels (KC) as the primary indicators for generating trade signals. It aims to catch potential market trends by comparing the movements of these two popular volatility measures.
Key aspects of this strategy:
1. **Bollinger Bands and Keltner Channels:** Both are volatility-based indicators. The Bollinger Bands consist of a middle band (simple moving average) and two outer bands calculated based on standard deviation, which adjusts itself to market conditions. Keltner Channels are a set of bands placed above and below an exponential moving average of the price. The distance between the bands is calculated based on the Average True Range (ATR), a measure of price volatility.
2. **Entry Signals:** The strategy enters a long position when the upper KC line crosses above the upper BB line and the volume is above its moving average. Conversely, it enters a short position when the lower KC line crosses below the lower BB line and the volume is above its moving average.
3. **Exit Signals:** The strategy exits a position under two conditions. First, if the trade has been open for a certain number of bars defined by the user (default 20 bars). Second, a stop loss and trailing stop are in place to limit potential losses and lock in profits as the price moves favorably. The stop loss is set at a percentage of the entry price (default 1.5% for long and -1.5% for short), and the trailing stop is also a percentage of the entry price (default 2%).
4. **Trade Quantity:** The script allows specifying the investment amount for each trade, set to a default of 1000 currency units.
Remember, this is a strategy script, which means it is used for backtesting and not for real-time signals or live trading. It is also recommended that it is used as a tool to aid your trading, not as a standalone system. As with any strategy, it should be tested over different market conditions and used in conjunction with other aspects of technical and fundamental analysis to ensure robustness and effectiveness.
AggBands (v1) [qrsq]The "AggBands" indicator is a custom trading indicator designed to provide a consolidated view of the price action across multiple assets or trading pairs. It combines the price data from multiple tickers and calculates an aggregated price using user-defined weights for each ticker.
The indicator starts by defining the tickers to be included in the aggregation. You can choose from predefined configurations such as "BTC PAIRS," "CRYPTO TOTAL MARKET CAP," "TOP 5 PAIRS," "TOP 5 MEMECOINS," "SPX," "DXY," or "FANG." Each configuration includes specific tickers or indices relevant to the chosen category.
The indicator then fetches the closing, high, and low prices for each ticker and applies the user-defined weights to calculate the aggregated prices. The aggregated prices are normalized within a specified length to provide a consistent scale across different assets or pairs.
Next, the indicator calculates the midpoint, which is the average of the highest high and lowest low of the aggregated prices over a specified aggregation period.
To assess the volatility, the indicator calculates the price range and applies the Average True Range (ATR) indicator to determine the volatility value. The standard deviation is then computed using the price range and aggregation period, with an additional scaling factor applied to the volatility value.
Based on the standard deviation, the indicator generates multiple bands above and below the midpoint. By default, three standard deviation bands are calculated, but the user can choose between one and five bands. The upper and lower bands are smoothed using various moving average (MA) types, such as Simple Moving Average (SMA), Exponential Moving Average (EMA), Smoothed Moving Average (SMMA/RMA), Weighted Moving Average (WMA), Volume Weighted Moving Average (VWMA), Volume Weighted Average Price (VWAP), or Arnaud Legoux Moving Average (ALMA). The user can also adjust the length, offset, and sigma parameters for the moving averages.
The indicator can optionally smooth the midpoint, upper bands, and lower bands using a separate set of moving average parameters.
The indicator can be useful for traders and analysts who want to gain a consolidated view of price movements across multiple assets or trading pairs. It helps identify trends, volatility, and potential support and resistance levels based on the aggregated price and standard deviation bands. Traders can use this information to make informed decisions about trading strategies, risk management, and market analysis.
Master Supertrend Strategy [Trendoscope]Here is the strategy version of the indicator - Master Supertrend
Options and variations are same throughout.
🎲 Variations
Following variations are provided in the form of settings.
🎯 Range Type
Instead of ATR, different types of ranges can be used for stop calculation. Here is the complete list used in the script.
Plus/Minus Range* - Calculates plus range and minus range for each candle and uses them for different sides of stop calculation
Ladder ATR - Based on the existing concept of Ladder ATR defined in Supertrend-Ladder-ATR
True Range - True range derived from standard function ta.tr
Standard Deviation - Standard deviation of close prices
🎯 Applied Calculation
In standard ATR, rma of TR is used for calculations. But, the application calculation provides option to users to use different mechanisms. It can be a type of moving average or few other types of calculations.
Available values are
sma
ema
hma
rma
wma
high
median
🎯 Other options
Few other options provided are
Use Close Price - If selected stops are calculated based on the close price instead of high/low prices
Wait for Close If selected, change of supertrend direction is calculated based on close price instead of high/low prices
Diminishing Stop Distance - When selected, stop distance for the trend direction can only reduce and cannot increase. This option is useful for keeping the tight stops on strong trends.
🎯 Plus Minus Range*
One of the range type used is Plus/Minus Range. What it means and how are these ranges calculated? Let's have a look.
Plus Range is an upward movement of a candle from its last price or open price whichever is lower.
Minus Range is a downward movement of a candle from its last price or open price whichever is higher.
This divides True Range into two separate range for positive and negative side.
Note : Effectiveness on daily charts are quire visible. However, if you want to use it for lower timeframes, please play around with settings before settling on suitable configuration.
Multi-Divergence Buy/Sell IndicatorThe "Multi-Divergence Buy/Sell Indicator" is a technical analysis tool that combines multiple divergence signals from different indicators to identify potential buy and sell opportunities in the market. Here's a breakdown of how the indicator works and how to use it:
Input Parameters:
RSI Length: Specifies the length of the RSI (Relative Strength Index) calculation.
MACD Short Length: Specifies the short-term length for the MACD (Moving Average Convergence Divergence) calculation.
MACD Long Length: Specifies the long-term length for the MACD calculation.
MACD Signal Smoothing: Specifies the smoothing length for the MACD signal line calculation.
Stochastic Length: Specifies the length of the Stochastic oscillator calculation.
Stochastic Overbought Level: Defines the overbought level for the Stochastic oscillator.
Stochastic Oversold Level: Defines the oversold level for the Stochastic oscillator.
Calculation of Indicators:
RSI: Calculates the RSI based on the specified RSI Length.
MACD: Calculates the MACD line, signal line, and histogram based on the specified MACD parameters.
Stochastic: Calculates the Stochastic oscillator based on the specified Stochastic parameters.
Divergence Detection:
RSI Divergence: Identifies a bullish divergence when the RSI crosses above its 14-period simple moving average (SMA).
MACD Divergence: Identifies a bullish divergence when the MACD line crosses above the signal line.
Stochastic Divergence: Identifies a bullish divergence when the Stochastic crosses above its 14-period SMA.
Buy and Sell Conditions:
Buy Condition: Triggers a buy signal when all three divergences (RSI, MACD, and Stochastic) occur simultaneously.
Sell Condition: Triggers a sell signal when both RSI and MACD divergences occur, but Stochastic divergence does not occur.
Plotting Buy/Sell Signals:
The indicator plots green "Buy" labels below the price bars when the buy condition is met.
It plots red "Sell" labels above the price bars when the sell condition is met.
Usage:
The indicator can be used on any timeframe and for any trading instrument.
Look for areas where all three divergences (RSI, MACD, and Stochastic) align to generate stronger buy and sell signals.
Consider additional technical analysis and risk management strategies to validate the signals and manage your trades effectively.
Remember, no indicator guarantees profitable trades, so it's essential to use this indicator in conjunction with other tools and perform thorough analysis before making trading decisions.
Feel free to ask any questions
Alpha Fractal BandsWilliams fractals are remarkable support and resistance levels used by many traders. However, it can sometimes be challenging to use them frequently and get confirmation from other oscillators and indicators. With the new "Alpha Fractal Bands", a unique blend of Williams Fractals and Bollinger Bands emerges, offering a fresh perspective. Extremes can be utilized as price reversals or for taking profits. I look forward to hearing your thoughts. Best regards... Happy trading!
An easy solution for long positions is to:
Identify a bullish trend or a potential entry point for a long position.
Set a stop-loss order to limit potential losses if the trade goes against you.
Determine a target price or take-profit level to lock in profits.
Consider using technical indicators or analysis tools to confirm the strength of the bullish trend.
Regularly monitor the trade and make necessary adjustments based on market conditions.
An easy solution for short positions could be to follow these steps:
Identify a bearish trend or a potential entry point for a short position.
Set a stop-loss order to limit potential losses if the trade goes against you.
Determine a target price or take-profit level to lock in profits.
Consider using technical indicators or analysis tools to confirm the strength of the bearish trend.
Regularly monitor the trade and make necessary adjustments based on market conditions.
Remember, it's important to conduct thorough research and analysis before entering any trade and to manage your risk effectively.
To stay updated with the content, don't forget to follow and engage with it on TV, my friends. Remember to leave comments as well :)
Anchored VWAP Pinch & Handoff, Intervals, and Signals"Anchored VWAP Pinch & Handoff, Intervals, and Signals" is an AVWAP toolbox for those who like to use various VWAP trading techniques. The indicator is currently comprised of the following three sections:
• The Pinch & Handoff section (shown above on chart) allows manually setting an upper and lower AVWAP (Pinch) along with an additional AVWAP (Handoff) by entering dates or by dragging the vertical anchor lines to the desired significant events on chart. Each of these three AVWAPs can also be set to show zones above and/or below by a percentage or standard deviation amount. The theory behind this method is that the upper and lower AVWAPs may act as dynamic support and resistance levels, effectively creating a price range or channel. As price moves between these two VWAP levels, it becomes squeezed or consolidated within that range. Further conjecture is that the longer the price remains within the range of the two anchored VWAP values, the higher the potential for an explosive breakout. Traders using this strategy may interpret the prolonged consolidation as a period of price compression, with the expectation that a significant move in either direction is likely to occur. Traders employing the AVWAP Pinch strategy might look for specific chart patterns or additional confirmation signals to enter a trade. For example, a breakout above the upper anchored VWAP level could trigger a long trade, while a breakdown below the lower anchored VWAP level could signal a short trade. Stop-loss orders and profit targets are typically set based on the trader's risk tolerance and the volatility of the asset. The third AVWAP (Handoff) is typically set after price has broken through the Pinch, and is used as a new level of support or resistance. The "Pinch & Handoff" phrase is believed to have been coined by Brian Shannon, who has popularized this method.
• The Intervals section (shown above on chart) is comprised of six periodic AVWAPs which cyclically reset. Their default settings are 1 Day, 2 Days, 1 Week, 1 Month, 1 Quarter, and 1 Year. They each may be set to desired period and when they are enabled the VWAPs whose periods are lower than the current chart timeframe are automatically hidden. For example a 1 Day AVWAP is not useful on a 1 Week chart so it would be hidden from that timeframe. When using AVWAPs from higher timeframes it may be helpful to set your chart to "Scale price chart only". This can be enabled by right clicking on your chart's price column and then left clicking "Scale price chart only" to enable that option.
• The Auto section (shown above on chart) is comprised of two automatic Anchored VWAPs. There are choices for setting anchors automatically based upon Highest Source, Highest Volume, Lowest Source, Lowest Volume, Pivot High, and Pivot Low. Because these two VWAPs work retroactively they are drawn with lines instead of plots. There is currently a limitation of 500 lines that may be drawn at any given time and the logic within this indicator uses a line for every bar of VWAP that is drawn, so if the combined length of both of these VWAPs exceeds 500 bars the earliest lines would disappear. For typical use of looking for the highest high in the last 50 bars or the last fractal this limitation should not be an issue.
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All of the plots have been titled including hidden plots that are generated for the AVWAP line drawings. All of the various types of AVWAP within the indicator should be available as choices within the Alert creation dialog if use of alerts is desired.
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NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
[DIP] Inverse BB/Bollinger highlight for barsThis indicator allows you to highlight the area outside of the Bollinger Bands in order to draw more attention to it. This is especially useful for those who only trade when we are outside of the bands.
Keep in mind this indicator only works on bars, not on candles.
BRAHMA_ALARMThe indicator is an update to the "HMA-Kahlman Trend & Trendlines" script by capissimo, which is available at the following link: The update includes the integration of an alarm function to provide additional functionality.
The indicator continues to be based on the combination of the HMA (Hull Moving Average)-SMA (Simple Moving Average) method and the Kalman filter to generate precise trading signals. The original script by capissimo serves as the foundation for the SIMSOIL indicator, which has been enhanced by the addition of the alarm function to keep traders informed of potential trading opportunities.
It is important to emphasize that indicator is developed as an update to the original script by capissimo. I would like to thank capissimo for their original work on the script, and I have added the alarm function as an extension.
RD Opening Range/Initial BalanceIntroducing the RD Opening Range/Initial Balance indicator. The opening range is the first 60 minutes of trading action for a given day (High, Mid, and Low).
The market tends to put significance in these levels, that's why we use them in our trade system.
There is also a data panel:
Today - Today's opening range value
W-Avg - This weeks average
20D CA-OH - the total number of closes above the opening range over the last 20 days (above high)
20D CA-OL - the total number of closes below the opening range over the last 20 days (below low)
* We do plan to add additional data points.
* Only the last OR has labels, we will not be adding them or an option in the future.
* Full customization in setting panel. Color of lines, background, no display of data panel and more.
How to Use
These levels act as dual magnets. They both attract price and repel price.
You use price action and rules to decipher if price is being attracted or repelled.
You will notice as you use this indicator that price respects these levels. Often when answering the 3Qs one of these levels is in play.
During the cash market these levels play a significant role in price action. Even during the Globex/Overnight session these levels are a factor.
Circle areas are examples of price reactions at OR key levels:
If you trade with the RDTS you already know how to use these levels as reaction and target zones.
For clues on which level price is being repelled or attracted I'd suggest you utilize bias and momentum indicators like the RDA.
Initial Balance vs Opening Range
Before we move on and discuss how to use this indicator I want to mention what I consider the difference between the Opening Range and the Initial Balance.
I've adopted the Opening Range verbiage for the first 60 minutes of trading even though the Opening Range is often defined as the first 15m or first 30m.
The more accurate term for the first 60m should be Initial Balance. I'm not sure exactly where this originated but I learned this term when I was heavily trading TPO-- the IB is the first 2 30m blocks of trading.
Any questions or improvements just comment below.
This script was created in by both Bhangerang (an Alpha member of the RDTS) with help by @RexDogActual as well as permission to publish.
Ultimate Trend ChannelThe "Ultimate Trend Channel" indicator is a comprehensive trend analysis tool that calculates and displays a series of upper and lower bands based on user-defined input lengths. It uses linear regression and standard deviation to determine these bands for each of the 21 different group lengths. The indicator then computes the averages of these upper and lower bands, as well as the average of all the bands combined.
The visualization on the chart includes the plotting of the average upper and lower bands, with the space between these bands shaded for easy visualization of the overall trend. Additionally, the average of all the bands, referred to as the "Ultimate Trend Line," is also plotted on the chart.
This indicator provides a robust way of assessing market trends and volatility over varying periods, which can be extremely useful for both short-term and long-term trading strategies.
ATR Daily BandThis indicator draws an upper and lower band for each day. It uses the Average True Range calculation (with configurable lookback) and places the band at 1ATR above and 1ATR below the daily open.
I use this indicator as a simple gauge to tell how significant price movement is, and get a feel for the daily volatility. Due to the fractal nature of price action, it can be difficult to determine if a price movement is significant while zoomed in on a single intraday chart. Using this indicator, I can tell if the price action is approaching the ATR or if it's just staying within the band.
Strategies: Useful for both mean reversion and momentum strategies. It's up to you to decide how this metric will fit into your trading strategy. I currently use this indicator to look for mean reversion setups, but that is due to the current market conditions and my personal trading style.
Scalping Strategy (5min)This indicator is designed for scalping strategies on a 5-minute timeframe. It generates signals based on two RSI crossovers and incorporates moving averages to identify trends. Additionally, a Bollinger Band is included to eliminate the need for an additional Bollinger Band on the chart.
Please note that this indicator does not guarantee 100% accurate signals and may produce false signals. It is recommended to use this indicator in conjunction with other indicators such as Stochastic, MACD, SuperTrend, or any other suitable indicators to enhance the accuracy of trading decisions.
1) Signal Generation: The indicator generates buy and sell signals based on two RSI crossovers. A buy signal is generated when the fast RSI crosses above the slow RSI, indicating potential bullish momentum. Conversely, a sell signal is generated when the fast RSI crosses below the slow RSI, suggesting potential bearish momentum.
2) To adjust the indicator to your specific chart and trading preferences, you have the flexibility to modify the RSI and moving average (MA) values. By changing the RSI values (slow RSI length and fast RSI length), you can fine-tune the sensitivity of the RSI crossovers to suit different timeframes and market conditions. Similarly, adjusting the MA values (slow MA period and fast MA period) allows you to adapt the indicator to the desired trend identification and short-term trend confirmation.
3) Pay attention to trades that are confirmed by the short-term moving average (MA) aligning with the desired direction. For buy signals, ensure that the short MA is tending upward, indicating a potential uptrend. For sell signals, confirm that the short MA is trending downward, suggesting a potential downtrend.
4) Moving Averages: The indicator uses a 200-period moving average (MA) to identify the overall trend and a short-term MA for additional confirmation.
5) Bollinger Band: The included Bollinger Band is not directly used in the indicator's calculations. However, it is provided for convenience so that users don't need to add another Bollinger Band to their chart separately.
6) Exercise caution when the short MA is below the 200-period MA but showing signs of attempting an upward move. These situations may indicate a potential reversal or consolidation, and it is advisable to avoid taking trades solely based on the 200-period MA crossover in such cases.
Remember that these guidelines are intended to provide additional insights and should be used in combination with your trading judgment and analysis.
MOJO Opening Range BoxScript allows you to create a box around a time range of your choice. box turns green if price is above opening candle, red otherwise.
Linear Regression Channel (Log)The Linear Regression Channel (Log) indicator is a modified version of the Linear Regression channel available on TradingView. It is designed to be used on a logarithmic scale, providing a different perspective on price movements.
The indicator utilizes the concept of linear regression to visualize the overall price trend in a specific section of the chart. The central line represents the linear regression calculation, while the upper and lower lines indicate a certain number of standard deviations away from the central line. These bands serve as support and resistance levels, and when prices remain outside the channel for an extended period, a potential reversal may be anticipated.
I have replaced the Pearson values with trend strength levels to enhance understanding for individuals unfamiliar with Pearson correlation.
custom Bollinger bands with filters - indicator (AS)-----------Description-------------
This indicator is basically Bollinger bands with many ways to customize. It uses highest and lowest values of upper and lower band for exits. I think something is wrong with the script but cant find any mistakes – most probably smoothing. The ATR filter is implemented but is working incorrectly. In code you can also turn it into strategy but I do not recommend it for now as it is not ready yet.
So this is my first script and I am looking for any advice, ideas to improve this script, sets of parameters, markets to apply, logical mistakes in code or any ideas that you may have. Indicator was initially designed for EURUSD 5MIN but I would be interested in other ideas.
-----------SETTINGS--------------
---START - In starting settings we can choose
Line 1: what parts to use BB/DC/ATR
Line 2: what parts to plot on chart
Line 3 Whether or not apply smoothing to BB or ATR filter
Line 4 Calculate deviation for BB from price or Moving average
Line 5 Fill colors and plot other parts for debug (overlay=false)
Line 6:( for strategy) – enable Long/Short Trades
---BB and DC – here we modify Bollinger bands and Donchian
Line 1: Length and type of BB middle line and also length of DC from BB
Line 2: Length and type of BB standard deviation and multiplier
Line 3: Length and type of BB smoothing and %width for BB filter
---ATR filter – (not ready fully yet)
Line 1: type and length of ATR
Line 2: threshold and smoothing value of ATR
---DATE and SESSION
Line 1: apply custom date or session?
Line 2: session hours settings
Line 3:Custom starting date
Line 4: Custom Ending date
-----------HOW TO USE--------------
We open Long if BB width is bigger than threshold and close when upper band is no longer highest in the period set. Exact opposite with Short
DB Support Resistance Levels + Smart Higher Highs and Lower LowsDB Support Resistance Levels + Smart Higher Highs and Lower Lows
The indicator plots historic lines for high, low and close prices shown in settings as "base levels". Users can control the lookback period that is plotted along with an optional multiplier. Traders will notice that the price bounces off these historic base levels. The base levels are shown as light gray by default (customizable in the settings). Users may choose to display base levels by a combination of historic high, low and close values.
On top of the historic base levels, the indicator display higher high and lower low levels from the current bar high/low. Higher highs are shown by default in pink and lower lows by default in yellow. The user can adjust the lookback period for displaying higher highs and the optional multiplier. Only historic values higher than the current bar high are displayed filtering out (by highlighting) the remaining levels for the current bar. Users may choose to use a combination of historic open, low and close values for displaying higher highs. The user can adjust the lookback period for displaying lower lows and the optional multiplier. Only historic values lower than the current bar low are displayed filtering out (by highlighting) the remaining levels for the current bar. Users may choose to use a combination of historic open, low and close values for displaying lower low.
The indicator includes two optional filters for filtering out higher highs and lower lows to focus (highlight) the most relevant levels. The filters include KC and a simple price multiplier filter. The latter is enabled by default and recommended.
The indicator aims to provide two things; first a simple plot of historic base levels and second as the price moves to highlight the most relevant levels for the current price action. While the indicator works on all timeframes, it was tested with the weekly. Please keep in mind adjusting the timeframe may require the lookback settings to be adjusted to ensure the bars are within range.
How should I use this indicator?
Traders may use this indicator to gain a visual reference of support and resistance levels from higher periods of time with the most likely levels highlighted in pink and yellow. Replaying the indicator gives a visual show of levels in action and just how very often price action bounces from these highlighted levels.
Additional Notes
This indicator does increase the max total lines allowed which may impact performance depending on device specs. No alerts or signals for now. Perhaps coming soon...
SMI Momentum Bollinger Squeeze Signals - TradeUIMomentum Bollinger Squeeze Signals - TradeUI
The Squeeze Momentum Indicator (SMI) uses the principles of the Squeeze Indicator, which is a volatility indicator, and combines them with a momentum calculation to provide a more comprehensive view of the market.
The original Squeeze Indicator uses the relationship between the Bollinger Bands and Keltner Channels to identify periods of low volatility, known as "Squeezes", and potential breakout points. The SMI takes this one step further by adding a momentum calculation, making it a more dynamic tool for trading.
The momentum calculation is based on the rate of change of the asset's price. When the price increases rapidly, it signifies positive momentum, and when the price decreases rapidly, it signifies negative momentum.
Purple CloudThe above lines calculate several intermediate values used in the indicator's calculations. Here's a breakdown of each variable:
a1: Represents a modified Exponential Moving Average (EMA) of the high price series, subtracted by a Simple Moving Average (SMA) of the low price series.
a2: Takes the square root of the lowest value between the highest close price over the last 200 bars and the current close price, multiplied by a1.
b1: Represents a modified EMA of the low price series, subtracted by an SMA of the high price series.
b2: Takes the square root of the highest value between the lowest close price over the last 200 bars and the current close price, multiplied by b1.
c1: Represents the square root of a2 multiplied by b2.
These lines create multiple plots using the plot function. Each plot represents a displaced version of c1 by a certain multiple of the Average True Range (ATR) multiplied by a constant factor (0.1, 0.2, 0.3, etc.). The transparency (transp) is set to 100 for all plots.
Bollinger Bands, RSI, and MA StrategyThe "Bollinger Bands, RSI and MA Strategy" is a trend-following strategy that combines the Bollinger Bands indicator, the Relative Strength Index (RSI), and a moving average (MA). It aims to identify potential entry and exit points in the market based on price volatility, momentum, and trend.
The strategy uses two Bollinger Bands with different standard deviations to create price channels. The default settings for the Bollinger Bands are a length of 20 periods and a standard deviation of 2.0. The upper and lower bands of the Bollinger Bands serve as dynamic resistance and support levels, respectively.
The RSI indicator is employed to gauge the strength of price momentum.
The strategy also incorporates a 50-period moving average (MA) to help identify the overall trend direction. When the price is above the MA, it suggests an uptrend, and when the price is below the MA, it suggests a downtrend.
The entry conditions for long trades are when the RSI is above the overbought level and there is no contraction in the Bollinger Bands. For short trades, the entry conditions are when the RSI is below the oversold level and there is no contraction in the Bollinger Bands.
The exit conditions for long trades are when the RSI drops below the overbought level or when the price closes below the 50-period MA.
For short trades, the exit conditions are when the RSI goes above the oversold level or when the price closes above the 50-period MA.
The strategy generates alerts for potential long and short entry signals, as well as for exit signals when the specified conditions are met. These alerts can be used to receive notifications or take further actions, such as placing trades manually or using automated trading systems.
It is important to note that this strategy serves as a starting point and should be thoroughly backtested and validated with historical data before applying it to live trading. Additionally, it is recommended to consider risk management techniques, including setting appropriate stop-loss and take-profit levels, to effectively manage trades.
