Candle Overlay and Change From Open PercentCandle Overlay and Change from Open Percentage
This script is free for all to use was designed to be non-cluttering for those who like their charts clean. This script features two things:
1) An option to allow a candle overlay over the existing stock/security in a charting window.
- By default, the additional candle overlay uses the same ticker you're currently looking at
- By default, the chart resolution for the additional candle overlay uses the same chart resolution as the current charting window you're using
- Please note that if you enable an additional candle overlay for a stock/security that has a wider gap in the stock price between the two different stock/securities, the additional candle overlay may not be visible, due to the big variances in stock price (unless you zoom out to get both charts to fit).
- The benefit to having this feature, is the ability to use a line chart as the primary and the candle chart as the secondary (each overlaying another)
2) An information window showing the percentage change from the market open
- If the market is not currently open, you will see a message, which reads "MARKET CLOSED" and underneath it, the stock/security price from the prior trading day
- If the market is open, you will see a couple of things:
a) The information window will either be green or red and geared towards mostly day traders. This color is based on whether the current price is above or below the market open price. The default color if the current price is at or above market open price is green and the default color if the current price is below the market open price is red. Although, not always the case, you can generally assume if the stock price is above the market open price that the overall trend is generally bullish (but again, not always the case, as there's other varying factors that come into play).
b) There's two lines displayed on the information window and these information automatically changes depending on the color of the information window.
c) The first line that starts with a star symbol begins with the current percentage change/move from the market open price and the secondary number on the same line is either the absolute highest (or lowest) percentage change uncovered during the current trading day. If the information window is green, this percentage number is the highest percentage uncovered. If the information window is red, this percentage number is the lowest percentage uncovered. Please note that nobody knows the absolute highest and lowest price of any particular stock on any particular day; therefore, sometimes the only way to have a better sense of what the absolute highest (or lowest) percentage possible on a stock/security is when the day progresses into power hour and into the market close.
d) The second line that starts with either an UP and DOWN arrow indicates the estimated projected max percentage (again depending on whether the information window is green or red). Please note that this feature is completely experimental and subject to future code changes. If the information window is green, this percentage number guesses what the max percentage change the stock price will go up to. If the information window is red, this percentage number guesses what the max percentage change the stock price will go down to.
e) Please note that the second line which provides the estimated max percentage (either up to down) should not be used as an indicator for your trading, but rather just for entertainment. The estimated percentage max change can auto-adjust itself throughout the day. Stock news, unexpected high trading volume, etc... can cause a stock/security price to exceed (or shortfall) this estimated max percentage.
* Please note that this script is in its early beta stage and there could be bugs. This is being provided as is and the information provided by this script is meant for informational/entertainment purposes only.
Overlay
RSI OverlayThis is the stock RSI index using the Price as the midline.
It can be useful to view information normally displayed in a second pane overlaid on the price chart. As far as I know, this has not been done for one of the most widely used indicators, the Relative Strength Index.
This can be overlaid anywhere on the chart and every parameter is variable. If you'd like to change the position, the RSI, midline, upper line, and lower line are scaled with a factor "*close/x"
To change the position on the chart, simply change the "X" until you are pleased with the location.
The RSI MA was distracting so I removed it. I also published this indicator including the MA, titled "RSI Overlay with MA."
[_ParkF]HeikinAshi
In the Input menu, the default value of Location is 1, and HeikinAshi can be seen overlapping the candle.
If you modify the Location value, you can overlay it separately with candle to compare.
(In this case, the HeikinAshi value is different from the actual value, so it is recommended to use it to identify the trend.)
Also, if you move HeikinAshi to a new pane, you can use it as an auxiliary indicator at the bottom.
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Input 메뉴에서 Location의 기본값은 1이며, 헤이킨아시를 캔들과 겹쳐서 볼 수 있게 되어 있습니다.
Location 값을 수정하면 캔들과 따로 overlay 시켜 비교할 수 있습니다.
(이 경우 헤이킨아시의 값은 실제값과 다르니 추세 파악을 위해 사용하시길 권장합니다.)
또, 헤이킨아시를 새 페인으로 옮기면 하단의 보조지표처럼 사용할 수 있습니다.
[_ParkF]KDJ_Div(Overlay)KDJ Divergence(overlay)
Does not include KDJ indicator.
This indicator overlays the same divergence signal as the existing KDJ Indicator on the chart.
Uptrend Change Signal = Displayed green triangle below the candle
Downtrend Change Signal = Dispalyed red triangle above the candle
* Don't trade just at the signal
I hope it will help you with your trading.
hope you become rich!
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KDJ 다이버전스
KDJ 지표 미포함.
이 지표는 기존의 KDJ Indicator와 동일한 다이버전스 신호를 차트에 표시합니다.
상승 추세 변화 신호 = 초록색 삼각형 캔들 아래 표시.
하락 추세 변화 신호 = 빨간색 삼각형 캔들 위에 표시.
* 신호만 보고 매매하지 마세요
당신의 트레이딩에 도움이 되었으면 합니다.
부자되세요!
OnBalanceVolume by DGTComparing relative action between price bars and On-Balance Volume (OBV) generates more actionable signals, and plotting OBV on top of price chart alows to visually emphasis the relation between the price bars and OBV.
The On Balance Volume indicator (OBV) is a good metric for measuring buying and selling pressure. Many people believe that buying and selling pressure precede changes in price, making this indicator valuable. The actual individual quantitative value of OBV is not relevant. Instead, traders and analysts look to the nature of OBV movements over time; the slope of the OBV line carries all of the weight of analysis.
* Trend Identification - On Balance Volume (OBV) is useful for identifying or confirming overall market trends, when both price and OBV are moving in the same direction the underlying trend is likely to continue.
* Devrgence - divergence occurs when price movement is not confirmed by the indicator. In many cases, these divergences can indicate a potential reversal
* During a trading range, if the OBV is rising, accumulation may be taking place—a warning of an upward breakout, and coversly if the OBV is falling, distribution may be taking place—a warning of a downward breakout.
Note of caution in using the On Balance Volume
- It is a leading indicator, meaning that it may produce predictions, but there is little it can say about what has actually happened in terms of the signals it produces. Because of this, it is prone to produce false signals. It can therefore be balanced by lagging indicators. Add a moving average line to the OBV to look for OBV line breakouts; you can confirm a breakout in the price if the OBV indicator makes a concurrent breakout
- A large spike in volume on a single day can throw off the indicator for quite a while. For instance, a surprise earnings announcement, being added or removed from an index, or massive institutional block trades can cause the indicator to spike or plummet, but the spike in volume may not be indicative of a trend
This study additionally presents
- Volume Histogram with a Volume Moving Average
- Volume Weighted Colored Bars
Other alternatives where OBV is used as source of creating indicators : RelativeStrength of VolumeIndicators , Neglected-Volume , StochX Indicator of Indicators , etc
As with most indicators however, it is best to use OBV with additional technical analysis tools
Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Oscillators Overlay w/ Divergencies/Alerts by DGTAn oscillator is a technical analysis tool that, simply said, gauge momentum, determine market trend direction and duration. For some oscillators, fluctuations are bounded by some upper and lower band, and traders use them to discover short-term overbought or oversold conditions.
Oscillators are often combined with moving average indicators to signal trend breakouts or reversals
Histogram, is the difference between the oscillator and signal lines, which oscillates above and below a center line and is used as a good indication of an asset's momentum
What to look for
- Signal Line Crossover is the most common signal produced by the oscillators
- Zero Line Crossovers have a very similar premise to Signal Line Crossovers
- Divergence , when the oscillator and actual price are not in agreement, is another signal created by the oscillators
- Overbought and Oversold , with any range-bound oscillator, conditions are a primary signal generated
Oscillators Overlay study
* Presents oscillators on top of the mian chart (price chart)
* A single indicator for many well known and custom oscillators
* Divergence detection
* Alerts for various condtions
The list of oscillators included;
- Awesome Oscillator (AO)
- Chaikin Oscillator (Chaikin Osc)
- Commodity Channel Index (CCI)
- Distance Oscillator
- Elder-Ray Bear and Bull Power
- Elliott Wave Oscillator (EWO)
- Klinger Oscillator
- Money Flow Index (MFI)
- Moving Average Convergence Divergence (MACD)
- Rate Of Change (ROC)
- Relative Strength Index (RSI)
- Stochastic (Stoch)
- Stochastic RSI (Stoch RSI)
- Volume Oscillator (Volume Osc)
- Wave Trend
In technical analysis, investors find oscillators to be important technical tools and consider them more effective when used in conjunction with other means of technical analysis
Disclaimer : Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
[_ParkF]RSI Divergence_overlayRSI Divergence_overlay
Does not include RSI indicator.
Up Signal = Displayed green dot below the candle
Down Signal = Dispalyed red dot above the candle
* Don't trade just at the signal
RSI 다이버전스
RSI 지표 미포함.
상승 신호 = 초록색 점으로 캔들 아래 표시.
하락 신호 = 빨간색 점으로 캔들 위에 표시.
* 신호만 보고 매매하지 마세요
Renko Candles OverlayHello All,
For long time I got many request for Renko Candles and now here it's, Renko Candles Overlay . I tried to make almost everything optional, so you can play with the options as you want.
Let see the options:
Method: the option for brick scaling method: ATR, ATR/2, ATR/4, Percent, Traditional
- ATR Period: period for Average True Range and it's valid if the method is ATR
- ATR/2 Period: period for Average True Range and it's valid if the method is ATR/2
- ATR/4 Period: period for Average True Range and it's valid if the method is ATR/4
- Traditional: User-defined brick size, it's valid if the method is Traditional
- Percent: Percent of Close price, it's valid if the method is Percent
if the method is not Traditional (fixed brick size) then Brick size is calculated/updated when new bricks added. so The box sizes may be different because of the calculation is dynamic.
Levels & Lines for new Bricks: if you enable this option then the script shows the levels for new brick
Change Bar Color: optionally the script changes the bar color by using direction of the bricks
and some other options for coloring.
The script shows the bricks for visible area, which is approximately 280 candles. so if you change the width and number of the bricks then number of bricks that is shown is adjusted automatically to fit the screen. you can see the examples below:
The script shows the levels to new brick as a line and label:
Because of real-time bar is not confirmed until the candle close, the script shows the bricks as Unconfirmed , and unconfirmed bricks shown in different color:
You can change the width of the bricks (width is 10 in following example):
Optionally candle colors are changde by the direction of the bricks:
If you have any recommendation then please drop a comment under the script ;)
Enjoy!
BTC Price OverlayThis is not a crazy strategy like most of the code I write. It's a simple overlay so you can drop BTC on top of whatever chart you are watching. It will track BTC's price on Binance.us (though the exchange is changeable with a few lines of code, maybe I will make it a dropdown on the next iteration of this.)
It uses TradingView's scale function to show both assets on a relative chart. BTC's price is on the left and your asset is on the right.
I've made this available for free because it is quick and easy. I plan to write a bot based around this code and that one will be private.
Sessions Rainbow EST with overlapsThis script displays the trading zones with overlaps based on the color of the rainbow. It is used with a Point&Figure chart to show trends associated with trading periods and overlapping trading periods.
Higher Time Frame Chart OverlayHello All,
This script gets OHLC values from any security and Higher/Same time frame you set, then creates the chart including last 10 candles. it shows Symbol name, Time Frame, Highest/Lowest level of last 10 candles and Close Price at the right side of the chart as well. Closing price text color changes by the real-time candle of the related symbol and time frame. The all this was made using the Tables in Pine and the chart location doesn't change even if you change the size of main chart window.
Almost everything can be change as you want. You can change/set:
- Colors of Body and Top/Bottom Wicks separately
- The Height of each Cell
- The Width of Body and Wicks
- The Background and Frame color
- Enable/disable Status Panel (if you disable Status Panel then only candle chart is shown)
- Location of Status Panel
- Text color and Text size
- The Background color of Status Panel
Some examples:
The info shown in Status Panel:
You can change The Height of each Cell and The Width of Body and Wicks
You can change colors:
You can change location of the chart:
If you add the script more than once then you can see the charts for different symbols and time frames: (This may slow down your chart)
If you right-click on the script and choose "Visual Order" => "Bring to front" then it will be better visually:
P.S. Using this script may slow down your chart, especially if you add it more than once
Enjoy!
Stochastic RSI Heat Candles OverlayThis script is based on the Stochastic RSI indicator.
Candles are dynamically colored with a customizable RGB shading directly generated from the average Stochastic RSI current value.
By default, colors represent the following status -> green is overgought & red is oversold.
Options:
Shading colors: Choose between Red/Green, Green/Blue, and Blue/Red shadings to represent the SRSI heat.
Invert colors: Switch colors of the selected shading.
Third color: Select a value from 0 to 255 for the third color which does not vary.
Transparency: Select the transparency value.
Overlay style : Choose to color the whole candle, or only borders and wick.
Show candle side: If you choose to fully fill candles with the SRSI heat color , enable this option to plot shapes representing the candles directions.
Candle marks colors: Select bull and bear colors for direction shapes.
Overbought and Oversold situations are also represented by colored shapes at the top of the chart.
Standards Stochastic RSI parameters.
Examples:
Notes:
Do not forget to bring the script to the front of your chart to avoid being covered by default candles.
Next improvements would probably be a better coloring algorithm, however, do not hesitate to suggest any modifications in comments.
Initially, I shared a Stochastic RSI Heat Bollinger Bands indicator which gave me the idea to develop this one, you can find it on my profile.
RSI CrayonsThis simple script colors candles based on the Relative Strength Index. RSI Values > 50 are solid colors, RSI values < 50 are pastels, with additional colors/fills/alerts for overheated and oversold (both user adjustable thresholds) conditions.
As an added bonus, RSI can be calculated by non-traditional methods (not using the running/smoothed moving average) using a variety of different moving averages, but you may have to adjust the time-frame for 'faster' moving averages. An option for plotting the moving average basis is also available.
Value Added:
This indicator can be used to chart RSI without adding an "oscillator frame" to your chart, since we don't normally care too much about RSI values between 30 and 70 under normal conditions.
Indicators OverlayHello All,
This script shows the indicators in separate windows on the main chart. Included indicators are RSI, CCI, OBV, Stochastic, Money Flow Index, Average True Range and Chande Momentum Oscillator. indicator windows are located at the top or bottom of the chart according to last moves of the Closing price. Different colors are used for each indicator. Horizontal levels are shown as dashed line and label as well.
Using the options;
You can enable/disable the indicators you want to see or not
You can change source and length for each indicator
You can set window length. using this length indicator windows are located on the chart
After you added this indicator to your chart I recommend: right click on any of the indicator windows => "Visual Order" => "Bring to front" as seen screenshot below:
in this example only 3 indicators enabled and period is set as 80:
indicator windows moves to the top or bottom of the chart according to the close price:
P.S. if you want to see any other indicator in the options then leave a comment under the indicator ;)
Enjoy!
DrawIndicatorOnTheChartLibrary "DrawIndicatorOnTheChart"
this library is used to show an indicator (such RSI, CCI, MOM etc) on the main chart with indicator's horizontal lines in a window. Location of the window is calculated dynamically by last price movemements
drawIndicator(indicatorName, indicator, indicatorcolor, period, indimax_, indimin_, levels, precision, xlocation) draws the related indicator on the chart
Parameters:
indicatorName : is the indicator name as string such "RSI", "CCI" etc
indicator : is the indicator you want to show, such rsi(close, 14), mom(close, 10) etc
indicatorcolor : is the color of indicator line
period : is the length of the window to show
indimax_ : is the maximum value of the indicator, for example for RSI it's 100.0, if the indicator (such CCI, MOM etc) doesn't have maximum value then use "na"
indimin_ : is the minimum value of the indicator, for example for RSI it's 0.0, if the indicator (such CCI, MOM etc)doesn't have maximum value then use "na"
levels : is the levels of the array for the horizontal lines. for example if you want horizontal lines at 30.0, and 70.0 then use array.from(30.0, 70.0). if no horizontal lines then use array.from(na)
precision : is the precision/number of decimals that is used to show indicator values, for example for RSI set it 2
xlocation : is end location of the indicator window, for example if xlocation = 0 window is created on the index of the last bar/candle
Returns: none
Opening Range FibonaccisThis indicator uses the concept of the "Opening Range" to create a Fibonacci zone from the high and low set during a specific time period after open (Defaults to 9:30 - 10:05 AM, EST)
The Opening Range is a popular tool for intraday technical analysis. Price frequently uses these levels as support/resistance, and a breakout from within the range can be a sign of further movement.
The Fibonacci levels are set such that the opening range high/low fall on the +/-0.5 fib. This creates an "extended range" outside of the opening range that may be useful during breakouts.
Classic Candlestick on Range ChartHello traders!
This is my first script to share with everyone! As of right now the range candles on Tradingview are lacking the option to see range charts using the classic candlesticks. This script allows you to overlay a regular candlestick or heikin-ashi candlestick on a range chart!! Unfortunately, the only bar that cannot be a candlestick is the current bar. Once that bar has completed its range then it will update to a regular candlestick.
Install / Use instructions!
-For the best visual appearance it is important to set the transparency of up bars and down bars to 0. This setting is found in the main chart settings under SYMBOL. However, if you want to see the current unfinished range bar you need to set the "projection up bars" and "projection down bars" to the color you prefer.
-To change the colors of the candlesticks is found under the indicator settings like any other script!
Volume Zones Multi-Timeframe OverlayAt its core, this indicator is a variation of my other indicator, Welkin Advanced Volume Overlay (for VSA )
This version is based on the power of multi-timeframe analysis. The basic functionality is simple: Plot lines from the high and low of candles formed during periods of high volume and fill the space between them. The volume levels for deciding what counts as "high volume" are based on standard deviations of the volume's SMA , and the higher the volume , the brighter the zone. i.e., a volume zone set by a volume level that is 4 standard deviations higher than average will be more "filled in" and less transparent than a volume zone from a 2 standard deviation candle.
These zones tend to act as areas of congestion, and the "ceilings" and "floors" of the zones as support and resistance . Overlapping zones tend to indicate strength and are likely to require more effort to get through. The more timeframes that agree with each other, the stronger the zone, ceiling, or floor.
By default, these zones are drawn based on the chart's timeframe and 1 timeframe higher, automatically set based on some "standard" values:
1m -> 5m
5m -> 15m
10m -> 30m
15m -> 60m
30m -> 60m
60m -> 1d
1d -> 1w
Finally, both the base timeframe and the higher timeframe are customizable; this is intended to make it easy to "double" up copies of the indicator to fit even more timeframes on the chart, creating a sort of heatmap for volume price analysis.
An example of three copies of the indicator, showing volume zones from 6 different timeframes.
Quick-Glance RSIThis script will draw a live, updating-RSI on the main chart. As the price updates, the RSI line will self-adjust between the highest high an the lowest low for the RSI period.
Settings/Customizations:
RSI Length : Calculate RSI and draw RSI Line for specified period
Overbought Level : Draw maroon box from OB level to highest high.
Oversold Level : Draw green box from lowest low to OS level.
Scale Offset : Fine-tune location of 0-100 scale.
Show Scale : Draw 0-100 levels to the right of the RSI line.
Show RSI Line : Draw a line from the start of the RSI period to the current price.
Show OB/OS Boxes : Enable or disable background for overbought and oversold areas.
Realtime : Draw all data in real time.
RSI on overlay chart is same as current RSI on bottom chart
RSI without scale, boxes, or RSI Line
“Repainting” Note : The current RSI level is calculated in real time as each price changes, so yes this does “repaint” on the current bar. This is by design and will not change the effectiveness of the script. However, if you are using this script to generate signals, uncheck “Realtime” and/or use “once per bar close” for alerts.
Rosebud Trend Backtest [DepthHouse]*Past Performance Does Not Guarantee Future Results*
*Strategy created for backtesting purposes only.
*Backtesting assesses the viability of a trading strategy or pricing model by discovering how it would have played out retrospectively using historical data.
* Please be sure to read all updates below as the information below could change with future updates.
Rosebud Trend Indicator uses complex range calculations to easily detect trend changes, critical support and resistance levels, and even aid in spotting reversals. The Critical Support & Resistance Zones are plotted via the red and green cloud. This cloud not only visually displays the expected trend direction but often acts as major support and resistance zones. The outer band measures the expected range in which the assets trade over longer periods of time.
The Rosebud Trend Backtest combines the calculations of the ATR Auto Oscillator & the Rosebud Trend Indicator to demonstrate backtest performance.
// Settings //
Users can switch the ‘ Trend Sensitivity ’ between ‘ Low ', ' Med ', and ‘ High ’ to increase or decrease the rate at which the cloud changes.
By altering the S/R Band Thickness users can furthermore increase or decrease the rate at which a trend changes by altering the thickness of the cloud. Default is .50 however this can be lowered if needed.
Bar colors are generated by a combination of Rosebuds primary function and our ATR AUTO Oscillator base functions. Users have 3 bar color options to select from: Simple, Complex, and Off.
Simple: Bars colors alternate between shades of red and green based on the trend direction and the ATR Auto strength. The stronger the shade, the stronger the trend.
Complex: This adds a few extra variables to the script which generates a more complex bar color display. Using this option, Rosebud will generate light red bars in a bull trend if downward movement is strong and vice versa in a bear trend. It also will generate a purple bar if the candle successfully closes above or below the Top & Bottom Range Bands; We call this a range break, and it could be an early sign of strong upward or downward movement.
Off: In case you like to keep things even simpler, this option hides all overlay bar colors.
ATR Options: Used for Light & Strong Entries/Exits // Bar Colors also based on these settings
ATR Smoothed Signal Option: Turns advance smoothing on or off. On will reduce signal noise, while Off could land you that perfect bottom signal with a lower success rate.
ATR Candlestick Length: Default factor for bar color and shape generation, the higher the number the fewer signals that will generate.
ATR Candlestick Smoothing: Default smoothing for the Candlestick Length
Signal Lookback: Adjust the factor at which Bull, Bear, Up, and Down. Lower this to 2 for more signals.
// ⇅ BackTest Settings ⇅ //
Short Trading: Option to see backtest results for both long and short positions. Default is Long Only.
Strategy Entry Options:
Trend Only: Positions are entered right as there is a cloud trend change.
Light Entry: This enters a trade as soon as there is a breakout or breakdown signal generated from the ATR settings.
Strong Entry: Multiple conditions must be met; Price action must be near the Trend Base and must receive either a bullish or bearish crossover in the oversold or overbought range of the ATR Settings.
Strategy Exit Options:
Trend Only: Exits all positions after there is a primary trend change.
Light Exit: Exits a user set percentage of open positions when the ATR generates a breakdown or breakout. Will continue to do this at each occurrence. Presets are built in to keep these from triggering too often in volatile conditions.
Strong Exit: Exits a user set percentage of open positions when the ATR generates a bullish or bearish crossover in the overbought or oversold ranges. Will continue to do this with each occurrence. Presets are built in to keep these from triggering too often in volatile conditions.
Profit Points: Exits a set percentage of the position up to 3 times at a user set percentage gap from the entry. Any remaining amount in the position exits upon a trend change.
Profit QTY Percent: Percent of the position to exit when an exit condition triggers. This does not apply to the “Trend Only” exit option.
Profit Percent Gap: Percent gap for Profit Point Exits. Recommend adjusting based on timeframe. See example below.
Heikin Ashi Candle OverlayHello Friend,
This is a very simple script for fun to demonstrate the new ability to change the colors of attributes pertaining to the plotbar() and plotcandle() functions using series inputs.
For Heiken Ashi lovers, this script does several things. It gives you both bars and hollow candles with Heikin Ashi values - something TV does not currently support.
It also gives you the ability to see your favorite HA candles while on the main series plot. When viewing indicators in the "Heikin Ashi" candle setting on TradingView, the input values are "smoothed' with HA values. This skews the way your indicators behave as the OLHC are calculated averages. Only the regular candle settings will give your indicators "real close" etc.
By 'Muting' the main series bars by toggling the 👁 symbol next to your ticker id, it makes the normal candles invisible. You then overlay this script, which allows you to see the HA Candle of your choice, while not affecting the way your indicators behave.
You now have the best of 2 worlds. Smoothed behavior of price action to help visualize trends, and accurate indicator values derived from actual OLHC data.
Plus, something about hollow HA candles is just kind of clean and soothing isn't it?
Cheers,
Bjorgum
Hollow Setting:
Bars
Or just plain old regular, but on the main chart
Secondary Candle OverlayThis simple script is meant to allow the user to select another symbol to add onto their chart and plot the candlesticks for that symbol at the selected resolution requested.
Please see the tooltip provided by the 'Secondary Symbol' input for more details with regards to properly using this script on symbols that have vastly different valuations, it will help with getting the symbol requested to scale properly with the primary symbol on the chart.
The user may also input which colors are used for bullish/bearish candles as well as the symbol itself and its resolution.
IMPORTANT NOTE: THIS SCRIPT DOES NOT ACCOUNT FOR SYMBOLS THAT ARE NOT CONTINUOUS (The defval for the symbol is TVC:DXY which closes on weekends whereas a cryptocurrency like Bitcoin does not stop trading ever; candles on these kinds of markets will be repeated when overlaid onto markets that do not have this property.)
QFLOW SUITE QFLOW SUITE is a signal-based comprehensive trading suite for trading across all timeframes. It is designed to be a tool for discretionary traders and there are numerous ways to utilize this trading suite.
INCLUDES :
Buy / Sell Signals
Candle Coloring
Automatic Level Plotting
Trend Following System
Stop Loss Management System
Trend Reversal Mechanisms
Volatility Breakout Algorithm
Mean Reversion Algorithm
Buy / Sell Signals
There are multiple conditions detected by QFLOW Algorithm which are constantly worked on and improved
Candle Coloring
Color coding allows information compression and helps traders analyze the charts in a simple and intuitive manner. The base coloring is meant for trend following and consists of 3 colors :
Green - Trend up
Grey - Rangebound Consolidation
Red - Trend down
The second type of candle coloring is for the special conditions like buy / sell signals or divergences.
Volatility Breakout Algorithm
This part of the algorithm identifies a volatility breakout before it happens by showing a colored shaded squeeze which happens during consolidation. When a potential breakout is detected, an arrow is printed below or above that candle depending on the direction. Most times a second arrow is needed to signal a confirmed breakout. This arrow will be plotted with a 'B' or 'S' in the same color as the arrow.
False Breakout Detection
The algorithm is taught to detect these kind of false breakouts and prints a signal as an arrow with an 'F' below or above the candle.
Mean Reversion Algorithm
A hybrid algorithm that takes both momentum and mean reversion into account for high accuracy.
Automatic Level Plotting
Stop Loss Management System
QFLOW SUITE contains an adaptive trailing ATR system that can be used for stop loss management. It is plotted as a line below the price when the trend is up and above the price when the trend is down. It is highly effective because it is designed to adapt both to the true range ( a measure of the degree of price volatility ) as well as to the average direction change.
Extreme Background Highlighting
The algorithm is taught to analyze multiple technical components. When this option is turned on it will highlight the background when these extreme conditions are met. These highlights will often occur at the tops or bottoms and during times of high volatility. A trader can use this option as extra confluence when making certain trading decisions like taking profits or closing out trades.
