Bottom Detection MonitorBottom Detection Monitor
抄底监测器
利用了RSI值低于30的时候，跟30的差值，进行累积和计算，期间如果有RSI值超过了30，则自动累计和值清零，重新计算。一直到达设置的阈值标准，则会清零重置。
阈值的默认设置标准为100。
这个最早是从一分钟交易里总结出来的，小级别周期特别适合。
因为如果是连续的一段强势下跌过程，如果是大时间周期级别，这个阈值可能需要设置很高，就会有一个问题，指标的图表部分就有可能失真过大。而每个产品的波动特点和幅度可能会有差异，所以我把这个阈值留给了用户自己设置。
同样的原理，我也还制作了一个CCI的类似原理检测。
平时，这条曲线会成一条水平贴近零轴的直线，直到下跌波动跌破RSI30开始，当突然增加的曲线从波峰跌回零轴，就是抄底的时机。当然由于阈值的问题，可能会连续出现多个波峰，这个在使用中需要注意，可以通过增大阈值来改变这种现象。
我是我开源的开始。
我尊重有趣的想法，和重新定义的表达。
感谢Tradingview社区，给了我这个机会。
مؤشر قناة السلع (CCI)
CCI & BB with DivergenceCCI İndikatörü, yeni bir trendi belirlemek veya aşırı alım-satım bölgelerine gelmiş hisse emtia veya menkul kıymetlerin piyasa koşullarını belirlemek için kullanılabilecek çok taraflı bir göstergedir.
Bollinger Bandı, teknik analizde fiyat hareketlerini yorumlamanıza yardımcı olan çok yönlü bir göstergedir. 1980'lerde John Bollinger tarafından geliştirilen bu teknik, bir finansal varlığın fiyat oynaklığını ve potansiyel fiyat hareketlerini anlamak için kullanılır.
Düzenli uyumsuzluk ve gizli uyumsuzluk olmak üzere iki tür uyumsuzluk vardır. Onlarda kendi aralarında boğa uyumsuzluğu ve ayı uyumsuzluğu olmak üzere ikiye ayrılır. Boğa uyumsuzluklarına pozitif, ayı uyumsuzluklarına negatif uyumsuzluk adı da verilir.
Tüm bu indikatörler birleştirildi
Super CCI By Baljit AujlaThe indicator you've shared is a custom CCI (Commodity Channel Index) with multiple types of Moving Averages (MA) and Divergence Detection. It is designed to help traders identify trends and reversals by combining the CCI with various MAs and detecting different types of divergences between the price and the CCI.
Key Components of the Indicator:
CCI (Commodity Channel Index):
The CCI is an oscillator that measures the deviation of the price from its average price over a specific period. It helps identify overbought and oversold conditions and the strength of a trend.
The CCI is calculated by subtracting a moving average (SMA) from the price and dividing by the average deviation from the SMA. The CCI values fluctuate above and below a zero centerline.
Multiple Moving Averages (MA):
The indicator allows you to choose from a variety of moving averages to smooth the CCI line and identify trend direction or support/resistance levels. The available types of MAs include:
SMA (Simple Moving Average)
EMA (Exponential Moving Average)
WMA (Weighted Moving Average)
HMA (Hull Moving Average)
RMA (Running Moving Average)
SMMA (Smoothed Moving Average)
TEMA (Triple Exponential Moving Average)
DEMA (Double Exponential Moving Average)
VWMA (Volume-Weighted Moving Average)
ZLEMA (Zero-Lag Exponential Moving Average)
You can select the type of MA to use with a specified length to help identify the trend direction or smooth out the CCI.
Divergence Detection:
The indicator includes a divergence detection mechanism to identify potential trend reversals. Divergences occur when the price and an oscillator like the CCI move in opposite directions, signaling a potential change in price momentum.
Four types of divergences are detected:
Bullish Divergence: Occurs when the price makes a lower low, but the CCI makes a higher low. This indicates a potential reversal to the upside.
Bearish Divergence: Occurs when the price makes a higher high, but the CCI makes a lower high. This indicates a potential reversal to the downside.
Hidden Bullish Divergence: Occurs when the price makes a higher low, but the CCI makes a lower low. This suggests a continuation of the uptrend.
Hidden Bearish Divergence: Occurs when the price makes a lower high, but the CCI makes a higher high. This suggests a continuation of the downtrend.
Each type of divergence is marked on the chart with arrows and labels to alert traders to potential trading opportunities. The labels include the divergence type (e.g., "Bull Div" for Bullish Divergence) and have customizable text colors.
Visual Representation:
The CCI and its associated moving average are plotted on the indicator panel below the price chart. The CCI is plotted as a line, and its color changes depending on whether it is above or below the moving average:
Green when the CCI is above the MA (indicating bullish momentum).
Red when the CCI is below the MA (indicating bearish momentum).
Horizontal lines are drawn at specific levels to help identify key CCI thresholds:
200 and -200 levels indicate extreme overbought or oversold conditions.
75 and -75 levels represent less extreme levels of overbought or oversold conditions.
The 0 level acts as a neutral or baseline level.
A background color fill between the 75 and -75 levels helps highlight the neutral zone.
Customization Options:
CCI Length: You can customize the length of the CCI, which determines the period over which the CCI is calculated.
MA Length: The length of the moving average applied to the CCI can also be adjusted.
MA Type: Choose from a variety of moving averages (SMA, EMA, WMA, etc.) to smooth the CCI.
Divergence Detection: The indicator automatically detects the four types of divergences (bullish, bearish, hidden bullish, hidden bearish) and visually marks them on the chart.
How to Use the Indicator:
Trend Identification: When the CCI is above the selected moving average, it suggests bullish momentum. When the CCI is below the moving average, it suggests bearish momentum.
Overbought/Oversold Conditions: The CCI values above 100 or below -100 indicate overbought and oversold conditions, respectively.
Divergence Analysis: The detection of bullish or bearish divergences can signal potential trend reversals. Hidden divergences may suggest trend continuation.
Trading Signals: You can use the divergence markers (arrows and labels) as potential buy or sell signals, depending on whether the divergence is bullish or bearish.
Practical Application:
This indicator is useful for traders who want to:
Combine the CCI with different moving averages for trend-following strategies.
Identify overbought and oversold conditions using the CCI.
Use divergence detection to anticipate potential trend reversals or continuations.
Have a highly customizable tool for various trading strategies, including trend trading, reversal trading, and divergence-based trading.
Overall, this is a comprehensive tool that combines multiple technical analysis techniques (CCI, moving averages, and divergence) in a single indicator, providing traders with a robust way to analyze price action and spot potential trading opportunities.
Rikki's DikFat Bull/Bear OscillatorRikki's DikFat Bull/Bear Oscillator - Trend Identification & Candle Colorization
Rikki's DikFat Bull/Bear Oscillator is a powerful visual tool designed to help traders easily identify bullish and bearish trends on the chart. By analyzing market momentum using specific elements of the Commodity Channel Index (CCI) , this indicator highlights key trend reversals and continuations with color-coded candles, allowing you to quickly spot areas of opportunity.
How It Works
At the heart of this indicator is the Commodity Channel Index (CCI) , a popular momentum-based oscillator. The CCI measures the deviation of price from its average over a specified period (default is 30 bars). This helps identify whether the market is overbought, oversold, or trending.
Here's how the indicator interprets the CCI:
Bullish Trend (Green Candles) : When the market is showing signs of continued upward momentum, the candles turn green. This happens when the current CCI is less than 200 and moves from a value greater than 100 with velocity, signaling that the upward trend is still strong, and the market is likely to continue rising. Green candles indicate bullish price action , suggesting it might be a good time to look for buying opportunities or hold your current long position.
Bearish Trend (Red Candles) : Conversely, when the CCI shows signs of downward momentum (both the current and previous CCI readings are negative), the candles turn red. This signals that the market is likely in a bearish trend , with downward price action expected to continue. Red candles are a visual cue to consider selling opportunities or to stay out of the market if you're risk-averse.
How to Use It
Bullish Market : When you see green candles, the market is in a bullish phase. This suggests that prices are moving upward, and you may want to focus on buying signals . Green candles are your visual confirmation of a strong upward trend.
Bearish Market : When red candles appear, the market is in a bearish phase. This indicates that prices are moving downward, and you may want to consider selling or staying out of long positions. Red candles signal that downward pressure is likely to continue.
Why It Works
This indicator uses momentum to identify shifts in trend. By tracking the movement of the CCI , the oscillator detects whether the market is trending strongly or simply moving in a sideways range. The color changes in the candles help you quickly visualize where the market momentum is headed, giving you an edge in determining potential buy or sell opportunities.
Clear Visual Signals : The green and red candles make it easy to follow market trends, even for beginners.
Identifying Trend Continuations : The oscillator helps spot ongoing trends, whether bullish or bearish, so you can align your trades with the prevailing market direction.
Quick Decision-Making : By using color-coded candles, you can instantly know whether to consider entering a long (buy) or short (sell) position without needing to dive into complex indicators.
NOTES This indicator draws and colors it's own candles bodies, wicks and borders. In order to have the completed visualization of red and green trends, you may need to adjust your TradingView chart settings to turn off or otherwise modify chart candles.
Conclusion
With Rikki's DikFat Bull/Bear Oscillator , you have an intuitive and easy-to-read tool that helps identify bullish and bearish trends based on proven momentum indicators. Whether you’re a novice or an experienced trader, this oscillator allows you to stay in tune with the market’s direction and make more informed, confident trading decisions.
Make sure to use this indicator in conjunction with your own trading strategy and risk management plan to maximize your trading potential and limit your risks.
Momentum Nexus Oscillator [UAlgo]The "Momentum Nexus Oscillator " indicator is a comprehensive momentum-based tool designed to provide traders with visual cues on market conditions using multiple oscillators. By combining four popular technical indicators—RSI (Relative Strength Index), VZO (Volume Zone Oscillator), MFI (Money Flow Index), and CCI (Commodity Channel Index)—this heatmap offers a holistic view of the market's momentum.
The indicator plots two lines: one representing the current chart’s combined momentum score and the other representing a higher timeframe’s (HTF) score, if enabled. Through smooth gradient color transitions and easy-to-read signals, the Momentum Nexus Heatmap allows traders to easily identify potential trend reversals or continuation patterns.
Traders can use this tool to detect overbought or oversold conditions, helping them anticipate possible long or short trade opportunities. The option to use a higher timeframe enhances the flexibility of the indicator for longer-term trend analysis.
🔶 Key Features
Multi-Oscillator Approach: Combines four popular momentum oscillators (RSI, VZO, MFI, and CCI) to generate a weighted score, providing a comprehensive picture of market momentum.
Dynamic Color Heatmap: Utilizes a smooth gradient transition between bullish and bearish colors, reflecting market momentum across different thresholds.
Higher Timeframe (HTF) Compatibility: Includes an optional higher timeframe input that displays a separate score line based on the same momentum metrics, allowing for multi-timeframe analysis.
Customizable Parameters: Adjustable RSI, VZO, MFI, and CCI lengths, as well as overbought and oversold levels, to match the trader’s strategy or preference.
Signal Alerts: Built-in alert conditions for both the current chart and higher timeframe scores, notifying traders when long or short entry signals are triggered.
Buy/Sell Signals: Displays visual signals (▲ and ▼) on the chart when combined scores reach overbought or oversold levels, providing clear entry cues.
User-Friendly Visualization: The heatmap is separated into four sections representing each indicator, providing a transparent view of how each contributes to the overall momentum score.
🔶 Interpreting Indicator:
Combined Score
The indicator generates a combined score by weighing the individual contributions of RSI, VZO, MFI, and CCI. This score ranges from 0 to 100 and is plotted as a line on the chart. Lower values suggest potential oversold conditions, while higher values indicate overbought conditions.
Color Heatmap
The indicator divides the combined score into four distinct sections, each representing one of the underlying momentum oscillators (RSI, VZO, MFI, and CCI). Bullish (greenish) colors indicate upward momentum, while bearish (grayish) colors suggest downward momentum.
Long/Short Signals
When the combined score drops below the oversold threshold (default is 26), a long signal (▲) is displayed on the chart, indicating a potential buying opportunity.
When the combined score exceeds the overbought threshold (default is 74), a short signal (▼) is shown, signaling a potential sell or short opportunity.
Higher Timeframe Analysis
If enabled, the indicator also plots a line representing the combined score for a higher timeframe. This can be used to align lower timeframe trades with the broader trend of a higher timeframe, providing added confirmation.
Signals for long and short entries are also plotted for the higher timeframe when its combined score reaches overbought or oversold levels.
🔶Purpose of Using Multiple Technical Indicators
The combination of RSI, VZO, MFI, and CCI in the Momentum Nexus Heatmap provides a comprehensive approach to analyzing market momentum by leveraging the unique strengths of each indicator. This multi-indicator method minimizes the limitations of using just one tool, resulting in more reliable signals and a clearer understanding of market conditions.
RSI (Relative Strength Index)
RSI contributes by measuring the strength and speed of recent price movements. It helps identify overbought or oversold levels, signaling potential trend reversals or corrections. Its simplicity and effectiveness make it one of the most widely used indicators in technical analysis, contributing to momentum assessment in a straightforward manner.
VZO (Volume Zone Oscillator)
VZO adds the critical element of volume to the analysis. By assessing whether price movements are supported by significant volume, VZO distinguishes between price changes that are driven by real market conviction and those that might be short-lived. It helps validate the strength of a trend or alert the trader to potential weakness when price moves are unsupported by volume.
MFI (Money Flow Index)
MFI enhances the analysis by combining price and volume to gauge money flow into and out of an asset. This indicator provides insight into the participation of large players in the market, showing if money is pouring into or exiting the asset. MFI acts as a volume-weighted version of RSI, giving more weight to volume shifts and helping traders understand the sustainability of price trends.
CCI (Commodity Channel Index)
CCI contributes by measuring how far the price deviates from its statistical average. This helps in identifying extreme conditions where the market might be overextended in either direction. CCI is especially useful for spotting trend reversals or continuations, particularly during market extremes, and for identifying divergence signals.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Trend CCITrend CCI (TCCI) Indicator
Description:
The Trend CCI (TCCI) indicator is a unique combination of the Commodity Channel Index (CCI) and the Average True Range (ATR), designed to identify trends and market reversals with a refined sensitivity to price volatility. The indicator plots the CCI, adjusted by an ATR filter, and color-codes the trendline to signal uptrends and downtrends.
How It Works:
This indicator uses the CCI to measure price momentum and an ATR-based filter to smooth out market noise, making it easier to detect significant shifts in the market trend. Key parameters such as the ATR Period, ATR Multiplier, and CCI Period have been carefully chosen to optimize the indicator's performance:
1. ATR Period (default: 18)
The ATR Period determines the number of periods used to calculate the **Average True Range**, which reflects market volatility. In this case, an **ATR Period of 18** has been selected for several reasons:
Balance between responsiveness and noise reduction : A period of 18 strikes a balance between being responsive to recent price movements and filtering out minor fluctuations. Shorter ATR periods might be too reactive, creating false signals, while longer periods might miss shorter-term trends.
Adaptable to various market conditions : An 18-period ATR is suitable for both intraday and swing trading strategies, making it versatile across different time frames.
Standard industry practice : Many traders use ATR settings between 14 and 20 periods as a convention for detecting reliable volatility levels.
2. ATR Multiplier (default: 1.5)
The ATR Multiplier is applied to the ATR value to define how sensitive the indicator is to volatility. In this case, a multiplier of 1.5 has been chosen:
Avoiding whipsaws in low volatility markets: By setting the multiplier to 1.5, the indicator filters out smaller, less significant price movements, reducing the likelihood of whipsaw signals (i.e., false trend reversals during periods of low volatility).
Optimizing signal accuracy: A moderate multiplier like 1.5 ensures that the indicator only generates signals when the price moves a significant distance from the average range. Higher multipliers (e.g., 2.0) may ignore valid opportunities, while lower multipliers (e.g., 1.0) might create too many signals.
Enhancing trend clarity : The multiplier’s role in widening the range allows the indicator to respond more clearly during periods of strong trends, reducing signal noise and false positives.
3. CCI Period (default: 63)
The CCI Period defines the number of periods used to calculate the Commodity Channel Index. A 63-period CCI is selected based on the following considerations:
Smoothing the momentum calculation: A longer period, such as 63, is used to smooth out the CCI and reduce the effects of short-term price fluctuations. This period captures longer-term momentum, making it ideal for identifying more significant market trends.
-Filtering out short-term noise: While shorter CCI periods (e.g., 14 or 20) may be more reactive, they tend to produce more signals, some of which may be false. A 63-period CCI focuses on stronger and more sustained price movements, providing fewer but higher-quality signals.
Adapted to intermediate trading: A 63-period CCI aligns well with traders looking for medium-term trend-following strategies, striking a balance between long-term trend identification and responsiveness to significant price shifts.
How to Use:
Green Area: When the trendline turns green, it signals that the CCI is positive, reflecting upward momentum. This can be interpreted as a buy signal, indicating the potential for long positions or continuing bullish trades.
Red Area: When the trendline turns red, it signals that the CCI is negative, reflecting downward momentum. This can be interpreted as a sell signal, indicating potential short positions or bearish trades.
ATR Filter: The ATR helps reduce false signals by ignoring minor price movements. Traders can adjust the ATR Multiplier to make the indicator more or less sensitive based on market conditions. A lower multiplier (e.g., 1.2) may increase signal frequency, while a higher multiplier (e.g., 2.0) reduces it.
Originality:
The Trend CCI (TCCI) stands out due to its combination of the CCI and ATR. While many indicators simply plot raw CCI values, this script enhances the CCI’s effectiveness by incorporating an ATR-based volatility filter. This ensures that only significant trends trigger signals, making it a more reliable tool in volatile markets. The choice of the ATR period, multiplier, and CCI period ensures a refined balance between trend detection and noise reduction, distinguishing it as a powerful trend-following indicator.
Additionally, the visual aspect—using color-coded trendlines that dynamically shift between green and red—simplifies the interpretation of market trends, offering traders a clear and immediate understanding of trend direction and momentum strength.
Final Recommendations:
Use in Trending Markets The TCCI is most effective in trending markets, where its signals align with broader market momentum. In sideways or low-volatility markets, consider adjusting the ATR multiplier or using other complementary indicators to confirm the signals.
Risk Management: Always integrate robust risk management practices, such as using stop-loss orders and position sizing, to protect against sudden market reversals or periods of heightened volatility.
Adjust for Volatility: Consider the volatility of the asset being traded. In highly volatile assets, a higher ATR multiplier (e.g., 2.0) may be necessary to filter out noise, while in more stable assets, a lower multiplier (e.g., 1.2) might generate earlier signals.
By using the Trend CCI (TCCI) indicator with a deeper understanding of its key parameters, traders can better identify trends, reduce noise, and improve their overall decision-making in the markets.
Good Profits!
Pulse Oscillator [UAlgo]The "Pulse Oscillator " is a trading tool designed to capture market momentum and trend changes by combining the strengths of multiple well-known technical indicators. By integrating the RSI (Relative Strength Index), CCI (Commodity Channel Index), and Stochastic Oscillator, this indicator provides traders with a comprehensive view of market conditions, offering both trend filtering and precise buy/sell signals. The oscillator is customizable, allowing users to fine-tune its parameters to match different trading strategies and timeframes. With its built-in smoothing techniques and level adjustments, the Pulse Oscillator aims to be a reliable tool for both trend-following and counter-trend trading strategies.
🔶 Key Features
Multi-Indicator Integration: Combines RSI, CCI, and Stochastic Oscillator to create a weighted momentum oscillator.
Why Use Multi-Indicator Integration?
Script uses Multi-Indicator Integration to combine the strengths of different technical indicators—such as RSI, CCI, and Stochastic Oscillator—into a single tool. This approach helps to reduce the weaknesses of individual indicators, providing a more comprehensive and reliable analysis of market conditions. By integrating multiple indicators, we can generate more accurate signals, filter out noise, and enhance our trading decisions.
Customizable Parameters: Allows users to adjust weights, periods, and smoothing techniques, providing flexibility to adapt the indicator to various market conditions.
Trend Filtering Option: An optional trend filter is available to enhance the accuracy of buy and sell signals, reducing the risk of false signals in choppy markets.
Dynamic Levels: The indicator dynamically calculates multiple levels of support and resistance, adjusting to market conditions with customizable decay factors and offsets.
Visual Clarity: The indicator visually represents different levels and trends with color-coded plots and fills, making it easier for traders to interpret market conditions at a glance.
Alerts: Configurable alerts for buy and sell signals, as well as trend changes, enabling traders to stay informed of key market movements without constant monitoring.
🔶 Interpreting the Indicator
Buy Signal: A buy signal is generated when the Slow Line crosses under the Fast Line during an uptrend or when the trend filter is disabled. This indicates a potential bullish reversal or continuation of an upward trend.
Sell Signal: A sell signal occurs when the Slow Line crosses above the Fast Line during a downtrend or when the trend filter is disabled, signaling a potential bearish reversal or continuation of a downward trend.
Trend Change: The indicator detects trend changes when the Fast Line shifts from increasing to decreasing or vice versa, providing early warning of possible market reversals.
Dynamic Levels: The indicator calculates upper and lower levels based on the Fast Line's values. These levels can be used to identify overbought or oversold conditions and potential areas of support or resistance.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Trend Tide Oscillator [UAlgo]🔶 Description:
The "Trend Tide Oscillator " is a technical analysis tool designed to identify potential trend reversals and overbought/oversold conditions in the market. It calculates an oscillator based on the Commodity Channel Index (CCI) and then applies smoothing techniques to provide a clearer view of market momentum.
🔶 Key Features:
Oscillator Calculation : The indicator calculates an oscillator based on the Commodity Channel Index (CCI), which is a momentum-based oscillator used to identify overbought and oversold conditions.
Smoothing : Smoothing techniques are applied to the oscillator to reduce noise and provide a clearer view of market momentum. This helps traders in identifying trends more effectively.
Support and Resistance Zones : The indicator plots support and resistance zones based on the highest and lowest values of the oscillator over a specified lookback (default 50) period. These zones can help traders identify potential areas of price reversal. The indicator considers volatility when plotting the support and resistance zones. This aims to create more adaptable levels that account for fluctuating market conditions.
Visualization : The indicator visually represents overbought and oversold conditions with shapes (⚠️), aiding traders in quickly identifying potential entry or exit points.
Customization : Users can adjust parameters such as oscillator length, smoothing, and overbought/oversold levels, support and resistance lookbacks according to their trading preferences.
🔶 Disclaimer :
This indicator is provided for informational and educational purposes only and should not be considered as financial advice. Trading in the financial markets involves risk, and users should conduct their own research and analysis before making any investment decisions.
Reversal Zones [UAlgo]🔶Description:
"Reversal Zones " aims to identify potential reversal zones in price movements. The indicator provides visual signals on the chart, indicating potential overbought and oversold conditions based on the calculated values. It offers traders insights into possible turning points in the market, aiding in decision-making processes regarding entry and exit points.
🔶Key Features:
Bollinger Bands Percentile (BB Percentile):
Bollinger Bands Percentile is utilized in this script to gauge the current price position relative to its recent volatility. By calculating the percentile rank of the current price within the Bollinger Bands, traders can identify extreme price levels. This assists in recognizing potential overbought or oversold conditions, where price may be due for a reversal.
Choppiness Index (CI):
The Choppiness Index is employed here to measure the market's trendiness or choppiness. By evaluating the efficiency of the price movement, CI helps traders determine whether the market is trending or consolidating.
Commodity Channel Index (CCI):
The Commodity Channel Index is integrated into this script to capture price momentum. CCI quantifies the relationship between the current price, a moving average, and standard deviation. Traders use CCI to identify overbought or oversold conditions and potential trend reversals.
By averaging and smoothing these values, traders can obtain a clearer picture of potential turning points in the market. The final smoothed combination signal aims to reduce noise and provide more reliable insights.
🔶Disclaimer:
Please note that this script is provided for informational and educational purposes only and should not be considered as financial advice.
Trading in financial markets involves risk, and past performance is not necessarily indicative of future results.
Users should conduct their own research and analysis or consult with a qualified financial advisor before making any investment decisions based on this indicator.
The creators of this script are not liable for any losses incurred from trading activities.
CCI / Connectable [Azullian]Sharpen your analysis of market trends with the CCI indicator. Effectively evaluate market cycles and identify potential reversals, enriching your strategic planning.
This connectable CCI indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ CCI - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the CCI calculation.
• T - Timeframe: Select an alternative timeframe for the CCI calculation.
• LE - Length: Define the number of bars or periods used in the CCI calculation.
• OB - Overbought Level: Determine the CCI value at which overbought conditions are met.
• OS - Oversold Level: Specify the CCI value at which oversold conditions are met.
■ Scoring functionality
• The CCI scores long entries when the CCI enters OS: oversold area
• The CCI scores long exits when the CCI exits OS: oversold area
• The CCI scores long zones the entire time the CCI is in OS: oversold area
• The CCI scores short entries when the CCI enters OB: overbought area
• The CCI scores short exits when the CCI exits OB: overbought area
• The CCI scores short zones the entire time the CCI is in OB: overbought area
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an CCI signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, monitor, or strategy .
Let's connect the CCI to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load CCI / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the CCI to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : CCI / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
Ultimate Momentum"Ultimate Momentum" – Elevating Your Momentum Analysis
Experience a refined approach to momentum analysis with "Ultimate Momentum," a sophisticated indicator seamlessly combining the strengths of RSI and CCI. This tool offers a nuanced understanding of market dynamics with the following features:
1. Harmonious Fusion: Witness the dynamic interplay between RSI and CCI, providing a comprehensive understanding of market nuances.
2. Optimized CCI Dynamics: Delve confidently into market intricacies with optimized CCI parameters, enhancing synergy with RSI for a nuanced perspective on trends.
3. Standardized Readings: "Ultimate Momentum" standardizes RSI and CCI, ensuring consistency and reliability in readings for refined signals.
4. Native TradingView Integration: Immerse yourself in the reliability of native TradingView codes for RSI and CCI, ensuring stability and compatibility.
How RSI and CCI Work Together:
RSI (Relative Strength Index): Captures price momentum with precision, measuring the speed and change of price movements.
CCI (Commodity Channel Index): Strategically integrated to complement RSI, offering a unique perspective on price fluctuations and potential trend reversals.
Why "Ultimate Momentum"?
In a crowded landscape, "Ultimate Momentum" stands out, redefining how traders interpret momentum. Gain a profound understanding of market dynamics, spot trend reversals, and make informed decisions.
Your Insights Matter:
Share your suggestions to enhance "Ultimate Momentum" in the comments. Your feedback is crucial as we strive to deliver an unparalleled momentum analysis tool.
Multi-data oscillatorThe multi-data oscillator is a tool created to help traders visualize clearly how an oscillator works and moves considering different input parameters.
In this tool, you can choose to visualize the script as the RSI, the CCI, the LOC indicator, a custom-created formula that simply shows the location of the data considering X past values, or the average of all of these three indicators.
In the settings, you can choose both the length of the indicator and the smoothing factor.
Additionally, the indicator has a gradient color that changes considering the deviation and the variance of the different lines used to calculate the average line, displayed with more thickness.
S/R and Reversal BarsToday I'm proposing an idea to form S/R with a slightly different basic idea. This is a combination of CCI and candlestick study, and we will use this to mark possible reversal candles and possible S/R lines.
This is nothing complicated, I've used a basic CCI indicator with certain rules/system to mark S/R levels on the chart. (Have loaded traditional CCI indicator on bottom for comparison)
S/R levels are market as followed
Cross -
Lime = Support
Red = Resistance
Zero/Balance line - Yellow circles
The idea is to use this indicator to trade sideways market more successfully, in trending market this can be futile if you are not waiting for the break-out or breakdowns with confirmation.
Since this is based on CCI, it will give static result only when bar is closed, till then it will be susceptible for repaint. This is inherited nature from CCI readings on current bar. I could change this to only making reading on closed bar (historical bar), but that takes away from the uniqueness of this indicator in giving early indications.
This is a great tool for intraday scalping, but it does work on all timeframes, it's not bound by granularity.
This is for education purpose only.
Past success or seemingly positive results on published posts are not indication of future success.
Auto Fibo on IndicatorsThis drawing tool aims to draw auto Fibonacci Retracement Levels on desired indicators.
Users can define the target indicator to draw Auto Fibo Lines, from the "settings tab":
There are six commonly used indicators below the charts that can be selected to draw Fibonacci Retracement lines on:
RSI : Relative Strength Index
CCI : Commodity Channel Index
MFI : Money Flow Index
STOCHASTIC : Stochastic Oscillator
CMF : Chaikin Money Flow
CMO : Chande Momentum Oscillator
Fibonacci Retracement Levels will appear automatically after applying the indicator.
The "Auto Fibo on Indicators" tool looks back. It checks the indicator levels for a desired number of bars and then draws the Fibonacci Levels automatically in the right way, considering the final movements of the indicator.
There are five commonly used Fibonacci Levels added between the Highest and Lowest values such as:
%23.6
%38.2
%50 (Not precisely a Fibonacci Level, indeed)
%61.8 (Golden Ratio)
%78.6
Four extra levels can be added from the settings tab by checking their boxes:
%127.2 (adjustable level)
%161.8
%261.8
%361.8
Default lookback bars of Auto Fibo Levels: 144 (which is also a Fibonacci number)
Default Indicator: RSI
Default Indicator length: 14
Default data source: CLOSE
Users can also define and show overbought and oversold levels by unchecking the "Do not Show Indicator Overbought / Oversold Levels?" button from the settings menu.
In technical analysis, Fibonacci Levels on price can guide valuable trading signals for investors.
Levels can be significant support and resistance levels for breakouts and turning points.
This drawing tool aims to follow those necessary levels on indicators to observe critical levels and breakouts.
CCI RSI Trading SignalThe "CCI RSI Trading Signal" indicator combines the Commodity Channel Index (CCI) and Relative Strength Index (RSI) to provide buy and sell signals for trading. The CCI identifies potential trend reversals, while the RSI helps confirm overbought and oversold conditions.
How It Works:
The indicator generates a buy signal when the CCI crosses above -100 (indicating a potential bullish reversal) and the RSI is below the specified oversold level. On the other hand, a sell signal is produced when the CCI crosses below 100 (indicating a potential bearish reversal) and the RSI is above the specified overbought level.
Customization:
Traders can adjust the RSI and CCI periods, RSI oversold and overbought levels, as well as take profit, stop loss, and lot size settings to suit their trading preferences.
Usage:
The "CCI RSI Trading Signal" indicator can be used on various timeframes and markets to aid in decision-making, providing potential entry and exit points based on the combined analysis of CCI and RSI.
Relative Strength Volume ComparisonThe Relative Strength Volume Comparison is a powerful tool that can help traders identify the current trend based on volume pressure and potential reversals.
This oscillator is made of two lines and the overbought and oversold levels. Each of these two lines is a relative-strength formula that contains both the famous RSI and CCI formulas, smoothed by a Hull moving average.
The two lines are different for input. The colored line is based just on price and changes color based on the relation with the other line. The second line uses as input an average of three different popular volume indicators: The OBV, the Accumulation/Distribution, and the PVT.
Thanks to this tool, which uses 6 different formulas combined, traders can:
- Identify the current trend direction, based on the color of the area fill and the first colored line
- Identify potential reversal areas thanks to the overbought and oversold levels, customizable in the input section alongside the length and smoothing parameters.
Extreme Entry with Mean Reversion and Trend FilterThis non-repainting indicator is an improved version of my previous work, a more versatile tool designed to provide traders with dynamic and adaptive entry signals while incorporating a mean reversion and trend filtering mechanism. By combining RSI overbought/oversold, regular divergence and confirmatory momentum oscillator such as CCI or MOM, this indicator generates more precise and timely signals for entering trades.
The indicator offers a comprehensive set of entry conditions for both Buy and Sell entries:
• For Buy entries, it checks for oversold conditions based on RSI levels, and detects bullish divergence patterns while oversold and it identifies upward crossovers in the selected entry signal source (CCI or Momentum).
• Similarly, for Sell entries, it identifies downward crossovers of the CCI or Mom, after the recent overbought conditions, and bearish divergence patterns inside the overbought RSI.
To refine the entry signals even further, the indicator utilizes a mean reversion filter. Traders can choose to display signals that occur inside or outside the upper and lower mean reversion bands:
• Range Entries are indicating potential buying opportunities near the lower band and selling opportunities near the upper band. This is based on the concept of mean reversion, which suggests that prices tend to return to the average when they reach the upper or lower bands. By focusing on these signals, traders can take advantage of price movements that have a higher probability of reversing towards the mean.
• Extreme Entries, on the other hand, represent signals that occur outside of the bands, signaling potential pullbacks during strong trends. By entering positions only at extreme highs or lows, traders can avoid getting caught in the middle of the trend. This approach helps traders capitalize more favorable trading opportunities which have a high reward-risk ratio.
Trend Filter acts as a directional bias for the entry signals. When enabled, long and short entry conditions are filtered based on the relationship between the closing price and the EMA.
Traders have the flexibility to customize, tweak the indicator filter and values in the settings according to their preferences strategies and traded assets, tailoring the signals to their specific needs. The script sets alert conditions to trigger alerts for buy, sell, or both entry signals. This indicator can be used in conjunction with price action or other technical analysis tools for confirmation and better trading decisions.
I created this indicator for my own use, and I share this for informational purposes only. It does not constitute financial advice so use at your own risk and consider your financial situation before making any trading decisions. The indicator's accuracy is not guaranteed, and past performance is not indicative of future results.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
InteliTrend StableFXThis appealing little tool is a derivation of the CCI indicator and was developed in 2023 by Mario Jemic for MT4. It has additional settings that the conventional CCI indicator does not have. Furthermore, it is combined with moving averages to create signals. This is lines crossing confirmation type indicator. Look for the orange line to cross the moving average (red line).
Differences from the original:
1. Though it was coded in 2023, the original is for people who are still running Windows 95 and would like to do technical analysis on MT4.
2. The original had an additional stochastic moving average that was not particularly useful and made the indicator busy.
3. All of the moving average options have been ported over with 2 additional choices. (Hull and Arnaud Legoux added).
4. The default options are set as the tweaks that were discovered by StoneHill Forex (stonehillforex.com). You can also download the original from them.
I will probably add a few more features and options in the near future such as visuals for crossovers etc.
Enjoy!
d1g1talshad0w
Reversion Zone IndexThe Reversion Zone Index (RZI) is an indicator that combines the Commodity Channel Index (CCI), Choppiness Index (CI), and Bollinger Bands Percentage (BBPct) to identify mean reversion signals in the market. It is plotted as an Exponential Moving Average (EMA) smoothed oscillator with overbought and oversold zones, and mean reversion signals are represented by red and green arrows.
The three indicators are combined to benefit from their complementary aspects and create a more comprehensive view of mean reversion conditions. Here's a brief overview of each indicator's benefits:
1. Commodity Channel Index (CCI): CCI measures the current price level relative to its average over a specified period. It helps identify overbought and oversold conditions, as well as potential trend retracements. By incorporating CCI, the RZI gains insights into momentum and potential turning points.
2. Choppiness Index (CI): CI quantifies the market's choppiness or trendiness by analyzing the range between the highest high and lowest low over a specific period. It indicates whether the market is in a trending or ranging phase. CI provides valuable information about the market state, which can be useful in mean reversion analysis.
3. Bollinger Bands Percentage (BBPct): BBPct measures the current price's position relative to the Bollinger Bands. It calculates the percentage difference between the current price and the bands, identifying potential overbought or oversold conditions. BBPct helps gauge the market's deviation from its typical behavior and highlights potential reversal opportunities.
The RZI combines the three indicators by taking an average of their values and applying further calculations. It smooths the combined oscillator using an EMA to reduce noise and enhance the visibility of the trends. Smoothing with EMA provides a more responsive representation of the overall trend and helps filter out short-term fluctuations.
The overbought and oversold zones are marked on the chart as reference levels. When the combined oscillator is above the overbought zone or below the oversold zone, it suggests a potential mean reversion signal. Red and green arrows are displayed to visually indicate these mean retracement signals.
The RZI is a valuable tool for identifying mean reversion opportunities in the market. It incorporates multiple indicators, each providing unique insights into different aspects of mean reversion, such as momentum, volatility, and price positioning. Traders can use this indicator to spot potential turning points and time their trades accordingly.
Edri Extreme Points Buy & SellEDRI EXTREME POINTS BUY & SELL INDICATOR
This Buy and Sell (non-repainting) indicator uses signals based on the combined CCI/Momentum and RSI indicators and optional regular divergence.
The idea of the indicator is to look for a potential reversal after the price reached extreme points (overbought or oversold) and signals an entry when the price shows signs of momentum for reversal.
Optionally, it considers finding a divergence while RSI is at the extreme levels to improve the predictability of a possible reversal.
Additionally, the indicator includes a simple Mean Reversion visual on the chart to assist users in identifying extreme price levels and potential reversal opportunities. It features upper and lower bands that can be optionally plotted, showing calculated values where price bounces at those extreme levels.
The purpose of these bands is to help traders avoid getting trapped in the middle of a trend and to guide them to buy low and sell high. (It's important to note that this is purely a visual aid and does not impact the generation of trade signals.)
By utilizing the Mean Reversion bands alongside the entry conditions, traders can gain insights into potential price reversals and make more informed decisions about when to enter or exit trades.
Buy and Sell Entry conditions:
• The indicator looks at the CCI/Momentum indicator to turn positive (if buy) or negative (if sell) after the RSI was overbought or oversold in the recent past.
• It also checks if there is a 3-period regular bullish divergence in the RSI (if buy), or regular bearish divergence (if sell) and consider these in the entry condition.
• If these conditions are met, this indicator suggests that it may be a good time to enter a trade.
In summary this is how this indicator works:
• The indicator takes input settings such as the choice between using CCI or Momentum as the entry signal source, length parameters for CCI/Momentum, RSI levels for overbought and oversold conditions, RSI length, and options to plot mean reversion bands on the chart.
• It calculates the CCI and Momentum and RSI values based on user-defined length..
• It checks for regular bullish and bearish divergences (3 periods) in the RSI if the option is enabled.
• The script plots shapes on the chart to indicate the buy and sell signals based on the entry conditions.
• If the mean reversion bands option is enabled, it calculates the mean reversion, standard deviation, upper band, and lower band values.
• It also plots the upper band, mean reversion line, and lower band on the chart if the mean reversion bands option is enabled.
• This indicator includes alert conditions to generate alerts for the buy and sell signals.
• On top of that, users can opt to use only one alert for both buy and sell signals. (This can save Trading view subscribers with limited alerts.)
Important! Please do not consider everything you read here as financial advice. Additionally, do not rely solely on indicators for making your trading decisions. It is important to note that no indicator or strategy is perfect. Therefore, it is always recommended to backtest everything and practice proper risk management.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
RSI-CCI Fusion + AlertsThe "RSI-CCI Fusion" indicator combines the Relative Strength Index (RSI) and Commodity Channel Index (CCI) from TradingView.
RSI-CCI Fusion: Unlocking Synergies in Technical Analysis
Technical analysis plays a crucial role in understanding market dynamics and making informed trading decisions. I often rely on a combination of indicators to gain insights into price movements and identify potential trade opportunities. In the lines below, I will explore the "RSI-CCI Fusion" indicator, a powerful tool that combines the strengths of the Relative Strength Index (RSI) and the Commodity Channel Index (CCI) to provide enhanced trading insights.
1. Understanding the RSI and CCI Indicators
Before delving into the fusion of these indicators, let's briefly review their individual characteristics. The RSI is a widely used momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100, with readings above 70 indicating overbought conditions and readings below 30 indicating oversold conditions.
On the other hand, the CCI is a versatile indicator designed to identify cyclical trends in prices. It measures the distance between the price and its statistical average, thereby providing valuable insights into overbought and oversold levels.
2. The Concept of RSI-CCI Fusion
The RSI-CCI Fusion indicator is born out of my desire to harness the collective power of the RSI and CCI. By combining these indicators, I can benefit from a more comprehensive trading signal that captures both momentum and cyclical trend dynamics.
The fusion process involves assigning weights to the RSI and CCI, creating a blended indicator that reflects their relative importance. The weighted combination ensures that both indicators contribute meaningfully to the final result.
To maintain consistency, the RSI and CCI values are standardized using the z-score technique. This normalization process brings the values to a common scale, making them directly comparable. Rescaling is then applied to bring the combined indicator back to its original scale, facilitating intuitive interpretation.
3. Interpreting the RSI-CCI Fusion Indicator
When plotting the RSI-CCI Fusion indicator on a chart, I gain valuable insights into market dynamics and potential trading opportunities. The indicator's plot typically includes dynamic upper and lower bands, which are calculated based on the indicator's standard deviation. These bands provide boundaries for evaluating overbought and oversold conditions.
When the RSI-CCI Fusion indicator crosses above the lower band, it suggests oversold conditions and potential buying opportunities. Conversely, when the indicator crosses below the upper band, it indicates overbought conditions and potential selling opportunities. I also pay attention to the baseline, which represents the neutral level and may signal potential trend reversals.
4. Utilizing Alerts for Trading Decisions
The RSI-CCI Fusion indicator can be further enhanced by incorporating alerts. These alerts notify me when the indicator generates buy or sell signals, enabling me to take prompt action. I can customize the alerts based on my preferred thresholds and timeframes.
However, it is crucial to remember that the RSI-CCI Fusion indicator should not be relied upon in isolation. To increase the robustness of my trading decisions, it is recommended to combine the indicator with other analysis techniques such as trend lines, support and resistance levels, or additional indicators. This convergence of analysis methodologies enhances the overall accuracy of my trade signals.
Conclusion: The RSI-CCI Fusion indicator represents a compelling approach to technical analysis by synergizing the strengths of the RSI and CCI. By combining momentum and cyclical trend dynamics, I gain a more comprehensive view of market conditions. The fusion of these indicators, accompanied by timely alerts, equips me with valuable insights and facilitates well-informed trading decisions.
As with any technical analysis tool, it is essential for me to backtest the RSI-CCI Fusion indicator to evaluate its performance across different market conditions and timeframes. Additionally, applying proper risk management strategies is crucial to ensure consistent and disciplined trading practices.
Ultimate Balance OscillatorIntroducing the Ultimate Balance Oscillator: A Powerful Trading Indicator
Built upon the renowned Rate of Change (ROC), Relative Strength Index (RSI), Commodity Channel Index (CCI), Williams Percent Range, and Average Directional Index (ADX) from TradingView, this indicator equips traders with an unparalleled understanding of market dynamics.
What sets the Ultimate Balance Oscillator apart is its meticulous approach to weighting. Each component is assigned a weight that reflects its individual significance, while carefully mitigating the influence of highly correlated signals. This strategic weighting methodology ensures an unbiased and comprehensive representation of market sentiment, eliminating dominance by any single indicator.
Key Features and Benefits:
1. Comprehensive Market Analysis: The Ultimate Balance Oscillator provides a comprehensive view of market conditions, enabling traders to discern price trends, evaluate momentum shifts, identify overbought or oversold levels, and gauge the strength of prevailing trends. This holistic perspective empowers traders to make well-informed decisions based on a thorough understanding of the market.
2. Enhanced Signal Accuracy: With its refined weighting approach, the Ultimate Balance Oscillator filters out noise and emphasizes the most relevant information. This results in heightened signal accuracy, providing traders with a distinct advantage in identifying optimal entry and exit points. Say goodbye to unreliable signals and welcome a more precise and dependable trading experience.
3. Adaptability to Various Trading Scenarios: The Ultimate Balance Oscillator transcends the constraints of specific markets or timeframes. It seamlessly adapts to diverse trading scenarios, accommodating both short-term trades and long-term investments. Traders can customize this indicator to suit their preferred trading style and effortlessly navigate ever-changing market conditions.
4. Simplicity and Ease of Use: The Ultimate Balance Oscillator simplifies trading analysis by providing a single line on the chart. Its straightforward interpretation and seamless integration into trading strategies make decision-making effortless. By observing bullish or bearish crossovers with the moving average, recognizing overbought or oversold levels, and tracking the overall trend of the oscillator, traders can make well-informed decisions with confidence.
5. Real-time Alerts: Stay ahead of the game with the Ultimate Balance Oscillator's customizable alert system. Traders can set up personalized alerts for bullish or bearish crossovers, breaches of overbought or oversold thresholds, or any specific events that align with their trading strategy. Real-time notifications enable timely action, ensuring traders never miss lucrative trading opportunities.
The Ultimate Balance Oscillator is a robust trading companion, empowering traders to make shrewd and calculated decisions. Embrace its power and elevate your trading endeavors to new heights of precision and success. Discover the potential of the Ultimate Balance Oscillator and unlock a world of trading possibilities.
ADW - Volatility MapThe ADW - Volatility Map script is a tool for traders to measure and visualize the volatility of a specific asset. It uses both the Average True Range (ATR) and True Range (TR) values in combination with the Commodity Channel Index (CCI) to provide a comprehensive map of the market's volatility.
Average True Range (ATR) : ATR is a measure of market volatility. It measures the average of true price ranges over a time period. In this script, we use it to calculate the ATR-CCI which gives us a more precise measure of volatility.
True Range (TR) : TR is the greatest distance the price moved during a period. It is used in this script to calculate the TR-CCI, adding another level of detail to our volatility measurement.
Commodity Channel Index (CCI) : CCI is a versatile indicator that can be used to identify a new trend or warn of extreme conditions. We use it to scale and compare the ATR and TR values, hence providing a relative measure of volatility.
The script interprets the CCI values and provides four different conditions for both ATR and TR:
Is Low (CCI < 0)
Is High (CCI > 0)
Is Extremely Low (CCI <= -100)
Is Extremely High (CCI >= 100)
The interpretation of these conditions is displayed on the chart using colour highlighting. When the ATR or TR are low, high, extremely low, or extremely high, the script fills the chart accordingly.
In addition, the script has an option `awaitBarConfirmation` set at the beginning. If this is true, the script will only display indicators for fully formed bars, ensuring that the indicators you see are based on confirmed information.
Note: The colours for different conditions can be customized at the beginning of the script, allowing you to personalize the visual output to match your preferences.
This script is designed to provide a visually clear and immediate understanding of the market's volatility. Use it to enhance your decision-making process and adapt your trading strategy to the current market conditions.
