Market Structure Targets Model [LuxAlgo]The Market Structure Targets Model indicator provides an algorithmic approach to setting targets from market structure shifts (MSS) and market structure breaks (MSB), two popular Smart Money Concept (SMC) concepts. Depending on the target % settings, they can be used as take profit, confirmation levels, or potential reversal points.
🔶 USAGE
Our Market Structure Targets Model scripts provide automated and customizable targets from MSS and MSB. Each displayed target can be used in several ways described in the sub-sections below:
🔹 Take Profit
The targets can be used as take profit levels, where the target distance can be set separately for bullish/bearish MSS/MSB respectively.
🔹 Confirmation Levels
Alternatively, targets can be used as an additional confirmation level of a trend reversal when set at a lower percentage, filtering out fake signals that might be given from market structures. In this way, targets can be used as potential entry levels.
🔹 Potential Reversal Points
In some circumstances, targets being reached can be indicative of trend reversals. The percentage of the targets would be typically set higher to allow for trend exhaustion.
The above examples highlight this usage for bearish reversal scenarios, while the image below highlights it for bullish reversal scenarios.
🔹 Support/Resistance Levels
The targets, being horizontal levels, can also serve as potential support/resistances, with breakouts potentially confirming new trends. It is important to remain observant of the market structure. An MSS or MSB in the opposite direction provides essential information to be included in future decisions.
Using multiple timeframes can help detect longer-term trends. Depending on the user's preference, they can choose the appropriate timeframe for their needs.
Note that Target lines will only be drawn when the Target Level exceeds the close value when it is drawn.
🔹 Maximum Target Duration
The Maximum Target Duration setting removes unreached target levels when the amount of bars since the associated market structure of that target exceeds the user set limit. This effectively allows the removal of any target that might no longer be relevant to newer trends.
🔹 Type: Switch/Hold
This setting is another way to control unreached target levels.
Switch: When a new MSS/MSB is found, the previous target level associated with a market structure with the same direction (bullish/bearish) is deleted if it hasn't been reached.
Hold: Target levels are retained and continuously evaluated when a new MSS/MSB is formed.
The target level will be removed in both cases when the Maximum Target Duration condition is applied.
The above example shows the case when the Type setting is set to Switch , while in the example below, it is set to Hold .
🔶 DETAILS
🔹 Market Structure
Market structures are commonly classified as follows:
Market Structure Shift (MSS), also referred to as Change of Character (CHoCH)
Market Structure Break (MSB), also referred to as Break of Structure (BOS)
MSS indicates a shift in the market trend, confirming trend reversals. Conversely, MSB occurs once a trend is already determined, confirming new higher highs/lower lows.
🔹 Targets
A: Highest/lowest between the extremities of the MSS/MSB line
B: Price value of the MSS/MSB line
The distance between A and B is projected on the opposite side of the MSS/MSB line, adjusted with a percentage that can be set by the user. The above example used 100% of the distance between A and B.
The Target Percentage of MSS and MSB can be set separately for bullish or bearish market structures.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Type: the Switch/Hold setting controls unattained target levels
Maximum Target Duration: removes the target lines when the amount of bars since the drawing of the target exceeds the limit and the target has not been reached
🔹 Market Structure Shift (MSS)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
🔹 Market Structure Break (MSB)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
ابحث في النصوص البرمجية عن "BULL"
Breakouts with Tests & Retests [LuxAlgo]The Breakouts Tests & Retests indicator highlights tests and retests of levels constructed from detected swing points. A swing area of interest switches colors when a breakout occurs.
Users can control the sensitivity of the swing point detection and the width of the swing areas.
🔶 USAGE
When a Swing point is detected, an area of interest is drawn, colored green for a bullish swing and red when bearish.
A test is confirmed when the opening price is situated in the area of interest, and the closing price is above or below the area, depending on whether it is a bullish or bearish swing. Tests are highlighted with a solid-colored triangle.
A breakout is confirmed when the price closes in the opposite position, below or above the area, in which case the area will switch colors.
If the opening price is located within the area and the closing price closes outside the area, in the same direction as the breakout, this is considered a retest . Retests are highlighted with a hollow-colored triangle.
Note that tests/retests do not act on wicks. The main factor is that the opening price is in the area of interest, while the closing price is outside.
🔹 Area Of Interest Width
The user can adjust the width of the swing areas. Changing the " Width " is a fast and easy way to find different areas of interest.
A higher "Multiple" setting would return a wider area, allowing price to develop within it for a longer period of time and potentially provide later test signals.
When a swing area is broken, a higher "Width" setting can make it more complicated for the price to break it again, allowing a swing area to remain valid for a longer period of time thus potentially providing more retest signals.
🔶 DETAILS
Generally, only one bullish/bearish pattern can be active at a time. This means that no more than 1 bullish or bearish area will be active.
The " Display " settings, however, can help control how areas of different types are displayed.
Bullish AND Bearish: Both, bullish and bearish patterns can be drawn at the same time
Bullish OR Bearish: Only 1 bullish or 1 bearish pattern is drawn at a time
Bullish: Only bullish patterns
Bearish: Only bearish patterns
🔹 Test/Retest Labels
The user can adjust the settings so only the latest test/retest label is shown or set a minimum number of bars until the next test/retest can be drawn.
🔹 Maximum Bars
Users can set a limit of bars for when there is no test/retest in that period; the area of interest won't be updated anymore and will be available and ready for the next Swing.
An option for pulling the area back to the last retest is included.
🔶 SETTINGS
Display: Determines which swing areas are displayed by the indicator. See the "DETAILS" section for more information
Multiple: Adjusts the width of the areas of interest
Maximum Bars: Limit of bars for when there is no test/retest
Display Test/Retest Labels: Show all labels or just the last test/retest label associated with a swing area
Minimum Bars: Minimum bars required for a subsequent test/retest label are allowed to be displayed
Set Back To Last Retest: When after "Maximum Bars" no test/retest is found, place the right side of the area at the last test/retest
🔹 Swings
Left: x amount of wicks on the left of a potential Swing need to be higher/lower for a Swing to be confirmed.
Right: The number of wicks on the right of a potential swing needs to be higher/lower for a Swing to be confirmed.
🔹 Style
Bullish: color for test period (before a breakout) / retest period (after a breakout)
Bearish: color for test period (before a breakout) / retest period (after a breakout)
Label Size
VolumeSpreadAnalysisLibrary "VolumeSpreadAnalysis"
A library for Volume Spread Analysis (VSA).
spread(_barIndex)
Calculates the spread of a bar.
Parameters:
_barIndex (int) : (int) The index of the bar.
Returns: (float) The spread of the bar.
volume(_barIndex)
Retrieves the volume of a bar.
Parameters:
_barIndex (int) : (int) The index of the bar.
Returns: (float) The volume of the bar.
body(_barIndex)
Calculates the body of a bar.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (float) The body size of the bar.
wickUpper(_barIndex)
Calculates the upper wick of a bar (upper shadow).
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (float) The upper wick size of the bar.
wickLower(_barIndex)
Calculates the lower wick of a bar (lower shadow).
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (float) The lower wick size of the bar.
calcForecastedSMA(_source, _length, _forecastedLevel)
Calculates the forecasted Simple Moving Average (SMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the SMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted SMA value.
calcForecastedEMA(_source, _length, _forecastedLevel)
Calculates the forecasted Exponential Moving Average (EMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the EMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted EMA value.
calcForecastedRMA(_source, _length, _forecastedLevel)
Calculates the forecasted Relative Moving Average (RMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the RMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted RMA value.
calcForecastedWMA(_source, _length, _forecastedLevel)
Calculates the forecasted Weighted Moving Average (WMA).
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the WMA.
_forecastedLevel (float) : (float) The forecasted level to include in the calculation.
Returns: (float) The forecasted WMA value.
calcElapsedTimePercent()
Calculates the elapsed time percent of the current bar.
Returns: (float) The elapsed time percent.
calcForecastedSpread(multiplierAtMidpoints, multiplierAtPeaks)
Calculates the forecasted spread using elapsed time and dynamic multipliers, handling spread's non-linear nature.
Parameters:
multiplierAtMidpoints (float) : (float) The multiplier value at midpoints.
multiplierAtPeaks (float) : (float) The multiplier value at peaks.
Returns: (float) The forecasted spread value.
calcForecastedVolume()
Calculates the forecasted volume using elapsed time, satisfying volume's linear nature.
Returns: (float) The forecasted volume value.
calcForecastedMA(_source, _length, _forecastedSource, _type)
Calculates the forecasted Moving Average (MA) based on the specified type.
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the MA.
_forecastedSource (float) : (float) The forecasted level to include in the calculation.
_type (simple string) : (string) The type of the MA ("SMA", "EMA", "SMMA (RMA)", "WMA").
Returns: (float) The forecasted MA value.
calcMA(_source, _length, _type)
Calculates the Moving Average (MA) based on the specified type.
Parameters:
_source (float) : (series float) Source data for calculation.
_length (simple int) : (int) The length of the MA.
_type (simple string) : (string) The type of the MA ("SMA", "EMA", "SMMA (RMA)", "WMA").
Returns: (float) The MA value.
bullBar(_barIndex)
Determines if the bar is bullish.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if the bar is bullish, otherwise false.
bearBar(_barIndex)
Determines if the bar is bearish.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if the bar is bearish, otherwise false.
breakout(_barIndex)
Determines if there is a breakout above the previous bar.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if there is a breakout, otherwise false.
breakdown(_barIndex)
Determines if there is a breakdown below the previous bar.
Parameters:
_barIndex (simple int) : (int) The index of the bar.
Returns: (bool) True if there is a breakdown, otherwise false.
rejectionWickUpper(_rejectionWick)
Determines if the upper wick is a rejection wick.
Parameters:
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if the upper wick is a rejection wick, otherwise false.
rejectionWickLower(_rejectionWick)
Determines if the lower wick is a rejection wick.
Parameters:
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if the lower wick is a rejection wick, otherwise false.
setupDataVolume(_data, _mult_Low, _mult_High, _mult_Ultra, _maLengthVolume, _maTypeVolume)
Sets up data for volume levels.
Parameters:
_data (map) : (map) The map to store the levels.
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthVolume (simple int) : (int) The length for MA.
_maTypeVolume (simple string) : (string) The type for MA.
Returns: (void) Nothing.
setupDataSpread(_data, _mult_Low, _mult_High, _mult_Ultra, _maLengthSpread, _maTypeSpread)
Sets up data for spread levels.
Parameters:
_data (map) : (map) The map to store the levels.
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthSpread (simple int) : (int) The length for MA.
_maTypeSpread (simple string) : (string) The type for MA.
Returns: (void) Nothing.
setupDataForecastVolume(_dataForecast, _mult_Low, _mult_High, _mult_Ultra, _maLengthVolume, _predictedLevelVolume, _maTypeVolume)
Sets up data for volume and spread levels for forecast.
Parameters:
_dataForecast (map)
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthVolume (simple int) : (int) The length for MA.
_predictedLevelVolume (float) : (float) The predicted level for MA.
_maTypeVolume (simple string) : (string) The type for MA.
Returns: (void) Nothing.
setupDataForecastSpread(_dataForecast, _mult_Low, _mult_High, _mult_Ultra, _maLengthSpread, _predictedLevelSpread, _maTypeSpread)
Sets up data for spread levels for forecast.
Parameters:
_dataForecast (map)
_mult_Low (simple float) : (float) The multiplier for low level.
_mult_High (simple float) : (float) The multiplier for high level.
_mult_Ultra (simple float) : (float) The multiplier for ultra level.
_maLengthSpread (simple int) : (int) The length for MA.
_predictedLevelSpread (float) : (float) The predicted level for MA.
_maTypeSpread (simple string) : (string) The type for MA.
Returns: (void) Nothing.
isVolumeLow(_data, _barIndex)
Determines if the volume is low.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is low, otherwise false.
isVolumeNormal(_data, _barIndex)
Determines if the volume is normal.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is normal, otherwise false.
isVolumeHigh(_data, _barIndex)
Determines if the volume is high.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is high, otherwise false.
isVolumeUltra(_data, _barIndex)
Determines if the volume is ultra.
Parameters:
_data (map) : (map) The data map with volume levels.
_barIndex (int)
Returns: (bool) True if the volume is ultra, otherwise false.
isSpreadLow(_data, _barIndex)
Determines if the spread is low.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is low, otherwise false.
isSpreadNormal(_data, _barIndex)
Determines if the spread is normal.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is normal, otherwise false.
isSpreadHigh(_data, _barIndex)
Determines if the spread is high.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is high, otherwise false.
isSpreadUltra(_data, _barIndex)
Determines if the spread is ultra.
Parameters:
_data (map) : (map) The data map with spread levels.
_barIndex (int)
Returns: (bool) True if the spread is ultra, otherwise false.
isVolumeText(_data)
Determines text string representing the volume area level.
Parameters:
_data (map) : (map) The data map with volume levels.
Returns: (string) Text string of Low, Normal, High, or Ultra.
isSpreadText(_data)
Determines text string representing the spread area level.
Parameters:
_data (map) : (map) The data map with spread levels.
Returns: (string) Text string of Low, Normal, High, or Ultra.
calcBarColor(_value, _level)
Calculates the color based level.
Parameters:
_value (float) : (float) The value to check.
_level (float) : (float) The value level for comparison.
Returns: (color) The color for the bar.
bullPinBar(_maxBodyPercent, _minWickPercent)
Determines if the bar is a bull pin bar.
Parameters:
_maxBodyPercent (simple float) : (float) The maximum body percentage.
_minWickPercent (simple float) : (float) The minimum wick percentage.
Returns: (bool) True if the bar is a bull pin bar, otherwise false.
bearPinBar(_maxBodyPercent, _minWickPercent)
Determines if the bar is a bear pin bar.
Parameters:
_maxBodyPercent (simple float) : (float) The maximum body percentage.
_minWickPercent (simple float) : (float) The minimum wick percentage.
Returns: (bool) True if the bar is a bear pin bar, otherwise false.
dojiBar(_maxBodyPercent)
Determines if the bar is a doji.
Parameters:
_maxBodyPercent (simple float) : (float) The maximum body percentage.
Returns: (bool) True if the bar is a doji, otherwise false.
spinningTopBar(_minWicksPercent, _emaLength)
Determines if the bar is a spinning top.
Parameters:
_minWicksPercent (simple float) : (float) The minimum wicks percentage.
_emaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if the bar is a spinning top, otherwise false.
highWaveBar(_minBodyPercent, _minWickPercent, _bars)
Determines if the bar is a high wave bar.
Parameters:
_minBodyPercent (simple float) : (float) The minimum body percentage.
_minWickPercent (simple float) : (float) The minimum wick percentage.
_bars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if the bar is a high wave bar, otherwise false.
consolidationBar(_data, _spread, _bars)
Determines if the bars are in consolidation.
Parameters:
_data (map) : (map) The data map with spread levels.
_spread (simple float) : (float) The spread percentage for comparison.
_bars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if the bars are in consolidation, otherwise false.
S_DownThrust(_data, _bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of strength (DownThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of strength (DownThrust), otherwise false.
S_SellingClimax(_data, _rejectionWick)
Determines if there is a sign of strength (Selling Climax).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if there is a sign of strength (Selling Climax), otherwise false.
S_NoEffortBearishResult()
Determines if there is a sign of strength (No Effort Bearish Result).
Returns: (bool) True if there is a sign of strength (No Effort Bearish Result), otherwise false.
S_BearishEffortNoResult()
Determines if there is a sign of strength (Bearish Effort No Result).
Returns: (bool) True if there is a sign of strength (Bearish Effort No Result), otherwise false.
S_InverseDownThrust(_data, _bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of strength (Inverse DownThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of strength (Inverse DownThrust), otherwise false.
S_FailedSellingClimax()
Determines if there is a sign of strength (Failed Selling Climax).
Returns: (bool) True if there is a sign of strength (Failed Selling Climax), otherwise false.
S_BullOutsideReversal(_data)
Determines if there is a sign of strength (Bull Outside Reversal).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of strength (Bull Outside Reversal), otherwise false.
S_EndOfFallingMarket(_data)
Determines if there is a sign of strength (End of Falling Market).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of strength (End of Falling Market), otherwise false.
S_PseudoDownThrust(_bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of strength (Pseudo DownThrust).
Parameters:
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of strength (Pseudo DownThrust), otherwise false.
S_NoSupply(_bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of strength (No Supply).
Parameters:
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of strength (No Supply), otherwise false.
W_UpThrust(_data, _bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of weakness (UpThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of weakness (UpThrust), otherwise false.
W_BuyingClimax(_data, _rejectionWick)
Determines if there is a sign of weakness (Buying Climax).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_rejectionWick (simple float) : (float) The rejection wick percentage.
Returns: (bool) True if there is a sign of weakness (Buying Climax), otherwise false.
W_NoEffortBullishResult()
Determines if there is a sign of weakness (No Effort Bullish Result).
Returns: (bool) True if there is a sign of weakness (No Effort Bullish Result), otherwise false.
W_BullishEffortNoResult()
Determines if there is a sign of weakness (Bullish Effort No Result).
Returns: (bool) True if there is a sign of weakness (Bullish Effort No Result), otherwise false.
W_InverseUpThrust(_data, _bullPinBarMaxBody, _bullPinBarMinWick)
Determines if there is a sign of weakness (Inverse UpThrust).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_bullPinBarMaxBody (simple float) : (float) The maximum body percentage for bull pin bar.
_bullPinBarMinWick (simple float) : (float) The minimum wick percentage for bull pin bar.
Returns: (bool) True if there is a sign of weakness (Inverse UpThrust), otherwise false.
W_FailedBuyingClimax()
Determines if there is a sign of weakness (Failed Buying Climax).
Returns: (bool) True if there is a sign of weakness (Failed Buying Climax), otherwise false.
W_BearOutsideReversal(_data)
Determines if there is a sign of weakness (Bear Outside Reversal).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of weakness (Bear Outside Reversal), otherwise false.
W_EndOfRisingMarket(_data)
Determines if there is a sign of weakness (End of Rising Market).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
Returns: (bool) True if there is a sign of weakness (End of Rising Market), otherwise false.
W_PseudoUpThrust(_bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of weakness (Pseudo UpThrust).
Parameters:
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of weakness (Pseudo UpThrust), otherwise false.
W_NoDemand(_bearPinBarMaxBody, _bearPinBarMinWick)
Determines if there is a sign of weakness (No Demand).
Parameters:
_bearPinBarMaxBody (simple float) : (float) The maximum body percentage for bear pin bar.
_bearPinBarMinWick (simple float) : (float) The minimum wick percentage for bear pin bar.
Returns: (bool) True if there is a sign of weakness (No Demand), otherwise false.
N_QuietDoji(_dojiBarMaxBody)
Determines if there is a neutral signal (Quiet Doji).
Parameters:
_dojiBarMaxBody (simple float) : (float) The maximum body percentage for doji bar.
Returns: (bool) True if there is a neutral signal (Quiet Doji), otherwise false.
N_BalancedDoji(_data, _dojiBarMaxBody)
Determines if there is a neutral signal (Balanced Doji).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_dojiBarMaxBody (simple float) : (float) The maximum body percentage for doji bar.
Returns: (bool) True if there is a neutral signal (Balanced Doji), otherwise false.
N_StrongDoji(_dojiBarMaxBody)
Determines if there is a neutral signal (Strong Doji).
Parameters:
_dojiBarMaxBody (simple float) : (float) The maximum body percentage for doji bar.
Returns: (bool) True if there is a neutral signal (Strong Doji), otherwise false.
N_QuietSpinningTop(_spinningTopBarMinWicks, _spinningTopBarEmaLength)
Determines if there is a neutral signal (Quiet Spinning Top).
Parameters:
_spinningTopBarMinWicks (simple float) : (float) The minimum wicks percentage for spinning top bar.
_spinningTopBarEmaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if there is a neutral signal (Quiet Spinning Top), otherwise false.
N_BalancedSpinningTop(_data, _spinningTopBarMinWicks, _spinningTopBarEmaLength)
Determines if there is a neutral signal (Balanced Spinning Top).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_spinningTopBarMinWicks (simple float) : (float) The minimum wicks percentage for spinning top bar.
_spinningTopBarEmaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if there is a neutral signal (Balanced Spinning Top), otherwise false.
N_StrongSpinningTop(_spinningTopBarMinWicks, _spinningTopBarEmaLength)
Determines if there is a neutral signal (Strong Spinning Top).
Parameters:
_spinningTopBarMinWicks (simple float) : (float) The minimum wicks percentage for spinning top bar.
_spinningTopBarEmaLength (simple int) : (int) The length for EMA calculation.
Returns: (bool) True if there is a neutral signal (Strong Spinning Top), otherwise false.
N_QuietHighWave(_highWaveBarMinBody, _highWaveBarMinWick, _highWaveBarBars)
Determines if there is a neutral signal (Quiet High Wave).
Parameters:
_highWaveBarMinBody (simple float) : (float) The minimum body percentage for high wave bar.
_highWaveBarMinWick (simple float) : (float) The minimum wick percentage for high wave bar.
_highWaveBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Quiet High Wave), otherwise false.
N_BalancedHighWave(_data, _highWaveBarMinBody, _highWaveBarMinWick, _highWaveBarBars)
Determines if there is a neutral signal (Balanced High Wave).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_highWaveBarMinBody (simple float) : (float) The minimum body percentage for high wave bar.
_highWaveBarMinWick (simple float) : (float) The minimum wick percentage for high wave bar.
_highWaveBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Balanced High Wave), otherwise false.
N_StrongHighWave(_highWaveBarMinBody, _highWaveBarMinWick, _highWaveBarBars)
Determines if there is a neutral signal (Strong High Wave).
Parameters:
_highWaveBarMinBody (simple float) : (float) The minimum body percentage for high wave bar.
_highWaveBarMinWick (simple float) : (float) The minimum wick percentage for high wave bar.
_highWaveBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Strong High Wave), otherwise false.
N_Consolidation(_data, _consolidationBarSpread, _consolidationBarBars)
Determines if there is a neutral signal (Consolidation).
Parameters:
_data (map) : (map) The data map with volume and spread levels.
_consolidationBarSpread (simple float) : (float) The spread percentage for consolidation bar.
_consolidationBarBars (simple int) : (int) The number of bars for comparison.
Returns: (bool) True if there is a neutral signal (Consolidation), otherwise false.
ICT Unicorn Model [LuxAlgo]The ICT Unicorn Model indicator highlights the presence of "unicorn" patterns on the user's chart which is derived from the lectures of "The Inner Circle Trader" (ICT) .
Detected patterns are followed by targets with a distance controlled by the user.
🔶 USAGE
At its core, the ICT Unicorn Model relies on two popular concepts, Fair Value Gaps and Breaker Blocks. This combination highlights a future area of support/resistance.
A Bullish Unicorn Pattern consists out of:
A Lower Low (LL), followed by a Higher High (HH)
A Fair Value Gap (FVG), overlapping the established Breaker Block
A successful re-test of the FVG which confirms the pattern.
A Bearish Unicorn Pattern consists of:
A Higher High (HH), followed by a Lower Low (LL)
A Fair Value Gap (FVG), overlapping the established Breaker Block
A successful re-test of the FVG which confirms the pattern
The pattern detection depends on detected swings, which can be controlled by the Swing setting. Using higher values of this setting will return longer-term breaker blocks.
🔹 Using Risk/Reward Targets
A confirmed Unicorn pattern will show a blue ( Target ) / grey ( Stop Loss) "Risk/Reward" areas (RR).
When the Stop Loss or Target is hit, a white line is shown on the concerned side.
The Risk/Reward ratio can be adjusted in the "Targets" settings.
🔹 Trailing Stop
As seen in the previous snapshots, besides the RR areas, this indicator also includes an optional Trailing Stop .
This can be helpful to lower your risk, by exiting earlier than if you would wait until the Stop Loss is hit.
This example shows a successful bullish and bearish Unicorn Pattern . In this scenario, the Trailing Stop could be used for partial Take Profit.
The goal of this publication is to show confirmed Unicorn Patterns . To increase the chance of success, it is important to evaluate the bigger picture & use this in confluence with your price action analysis. For example, look for potential areas of liquidity, consider this pattern only during certain market sessions, avoid trading during heavy impact news, &/or incorporate other aspects of technical analysis rather than just following this pattern blindly.
🔶 DETAILS
🔹 Combine
When disabled, all potential Unicorn Patterns will delete previous unconfirmed patterns:
Enabling Combine ensures the last Unicorn Patterns in the opposite direction will remain.
While the latter bullish pattern became invalid, another one formed.
The combination of the previous bearish pattern, and looking at the big picture, the bullish pattern did not have much chance to be successful.
While disabling 'combine' helps minimize clutter, enabling this feature can give a pattern more chance to hit the SL/Target level.
🔹 Mitigated FVG
Users can determine if a pattern becomes invalid due to a mitigated FVG, causing the pattern to be deleted.
🔹 New pattern detected
When a new pattern is detected, the previous unconfirmed pattern in the same direction (bullish - bullish or bearish - bearish) will be deleted. This will always be the case, whether "Combine' is enabled or disabled.
When the previous pattern was confirmed but no SL or Target level was hit, this pattern will stop updating.
🔶 SETTINGS
🔹 Unicorn
Swings: This sets the length of swings, used for the underlying ZigZag and Unicorn Patterns detection.
Bull: Enable/disable Bullish patterns, and set the color of FVG box and Trailing Stop .
Bear: Enable/disable Bearish patterns, and set the color of FVG box and Trailing Stop .
Combine: When enabled, patterns in opposite directions (bullish/bearish) can exist at the same time. disabling this feature tends to give less clutter. See the "Usage" section for more information.
🔹 Targets
Risk/Reward: Sets the Risk/Reward ratio.
Trailing Stop: Set the length of small swings, which is used for the Trailing Stop .
Algoflow's Levels PlotterAlgoflow's Levels Plotter - Indicator
Release Date: Jan. 15, 2024
Release version: v3 r1
Release notes date: Jan. 15, 2024
Overview
Parses user's input of levels to be plotted and labeled on the chart for NQ & ES futures
Features
Quick plotting of predetermined price levels.
- Type or copy from another source of values in a predetermined output format.
Supports separate line plotting for Weekly, OVN and RTH values
- Plot only Weekly, OVN or RTH levels, or all
- Configure colors separately for Inflection Points, Weekly, OVN & RTH levels
- Shift/place price labels separately to easily identify levels
User Impacts of Changes
Requires users to remove previous version and re-add indicator "Algoflow's Levels Plotter", then re-add values. Colors and shift values will need to be re-entered and/or reconfigured
Support
Questions, feedbacks, and requests are welcomed. Please feel free to use Comments or direct private message via TradingView.
Quick usage notes:
The indicator allows you to enter data for both ES & NQ at the same time. This is useful in single chart window/layout situations, like viewing on the phone. When you switch between futures, the data is already there.
If you leave the entries blank, nothing will be plotted. This is useful if you want to have separate charts for ES & NQ. So you can just enter only the relevant data of either.
As an indicator, input values are saved within it, until it is removed from the chart. Input for one chart will not update other charts of the same ticker, even in the same layout.
The easiest and quickest way to share the inputs across all charts and layouts is to use the Indicator Templates feature.
- After input values are entered (for both ES & NQ futures) via the indicator's Settings, select ""Save as Default"".
- Click on ""Indicator Templates"" (4 squares icon), and click on ""Save Indicator template...""
- Remove the previous version of the indicator in other charts.
- Click on ""Indicator Templates"" icon, and select the newly created template. Repeat this for other charts of the same futures ticker
The labels can be disabled in settings > Style tab. Use the Inputs tab to configure orientation (left or right of current bar on chart), and how much spacing from the current (in distance of bars)
Format example:
Primary directional inflection point: 1234
For Bulls: 1244.25, 1254, 1264.50
For Bears: 1224, 1214, 1204
Changes
v3 r1 - Fixed erroneous default values in Weekly input sections. Added options to en/disable display of each set (session) of levels. Default label text size to normal, from small.
- Jan 15, 2024
v2 r9 - Added support for USTEC & US500.
- Dec. 10, 2023
v2 r8 - Added configuration features for users to modify the labels' text colors and size. Simplified code further by moving inputs processing modules into a single user function.
- Oct. 31, 2023
v2 r7 - Added support for the micro NQ & ES. Modified to ignore string case in inputs
- Oct 18, 2023
v2 r4 - Added support of weekly lines and labels features. Began the process of optimizing/simplifying code
- Oct. 15, 2023
v2 r3 - Made Inflection Point levels' colors configurable
- Oct. 04, 2023
v2 r2 - Removed comments & debug codes from development build revision #518
- Oct. 04, 2023
v2 r1 - Released from development revision #518. Major rewrite to fix previous and overlapping plots of lines and labels.
- Oct. 04, 2023
v1 r2 - First release of indicator
- Oct. 02, 2023
Smart Money Oscillator [ChartPrime]The "Smart Money Oscillator " is a premium and discount zone oscillator with BOS and CHoCH built in for further analysis of price action. This indicator works by first determining the the premium and discount zones by using pivot points and high/lows. The top of this oscillator represents the current premium zone while the bottom half of this oscillator represents the discount zone. This oscillator functionally works like a stochastic oscillator with more sophisticated upper and lower bounds generated using smart money concept theories. We have included a moving average to allow the user to visualize the currant momentum in the oscillator. Another key feature we have included lagging divergences to help traders visualize potential reversal conditions.
Understanding the concepts of Premium and Discount zones, as well as Break of Structure (BoS) and Change of Character (CHoCH), is crucial for traders using the Smart Money Oscillator. These concepts are rooted in market structure analysis, which involves studying price levels and movements.
Premium Zone is where the price is considered to be relatively high or 'overbought'. In this zone, prices have risen significantly and may indicate that the asset is becoming overvalued, potentially leading to a reversal or slowdown in the upward trend.
The Discount Zone represents a 'discount' or 'oversold' area. Here, prices have fallen substantially, suggesting that the asset might be undervalued. This could be an indicator of a potential upward reversal or a pause in the downward trend.
Break of Structure (BoS) is about the continuation of a trend. In a bullish trend, a BoS is identified by the break of a recent higher high. In a bearish trend, it's the break of a recent Lower Low. BoS indicates that the trend is strong and likely to continue in its current direction. It's a sign of strength in the prevailing trend, whether up or down.
Change of Character (CHoCH) is an indication of a potential end to a trend. It occurs when there's a significant change in the market's behavior, contradicting the current trend. For example, in an uptrend characterized by higher highs and higher lows, a CHoCH may occur if a new high is formed but then is followed by an impulsive move downwards. This suggests that the bullish trend may be weakening and a bearish reversal could be imminent. CHoCH is essentially a sign of trend exhaustion and potential reversal.
With each consecutive BoS, the signal line of the oscillator will deepen in color. This allows you to visually see the strength of the current trend. The maximum strength of the trend is found by keeping track of the maximum number of consecutive BoS's within a window of 10. This calculation excludes periods without any BoS's to allow for a more stable max.
Quick Update is a feature that implements a more aggressive algorithm to update the highs and lows. Instead of updating the pivot points exclusively to update the range levels, it will attempt to use the current historical highs/lows to update the bounds. This results in a more responsive range at the cost of stability. There are pros and cons for both settings. With Quick Update disabled, the indicator will allow for strong reversals to register without the indicator maxing out. With Quick Update enabled, the indicator will show shorter term extremes with the risk of the signal being pinned to the extremities during strong trends or large movements. With Quick Update disabled, the oscillator prioritizes stability, using a more historical perspective to set its bounds. When Quick Update is enabled, the oscillator becomes more responsive, adjusting its bounds rapidly to reflect the latest market movements.
The Scale Offset feature allows the indicator to break the boundaries of the oscillator. This can be useful when the market is breaking highs or lows allowing the user to identify extremities in price. With Scale Offset disabled the oscillator will always remain inside of the boundaries because the extremities will be updated instantly. When this feature is enabled it will update the boundaries one step behind instead of updating it instantly. This allows the user to more easily see overbought and oversold conditions at the cost of incurring a single bar lag to the boundaries. Generally this is a good idea as this behavior makes the oscillator more sensitive to recent price spikes or drops, reflecting sudden market movements more accurately. It accentuates the extremities of the market conditions, potentially offering a more aggressive analysis. The main trade-off with the Scale Offset feature is between sensitivity and potential overreaction. It offers a more immediate and exaggerated reflection of market conditions but might also lead to misinterpretations in certain scenarios, especially in highly volatile markets.
Divergence is used to predict potential trend reversals. It occurs when the price of an asset and the reading of an oscillator move in opposite directions. This discrepancy can signal a weakening of the current trend and possibly indicate a potential reversal.
Divergence doesn't always lead to a trend reversal, but it's a warning sign that the current trend might be weakening. Divergence can sometimes give false signals, particularly in strongly trending markets where the oscillator may remain in overbought or oversold conditions for extended periods. The lagging nature of using pivot points to calculate divergences means that all divergences are limited by the pivot look forward input. The upside of using a longer look forward is that the divergences will be more accurate. The obvious con here is that it will be more delayed and might be useless by the time it appears. Its recommended to use the built in divergences as a way to learn how these are formed so you can make your own in real time.
By default, the oscillator uses a smoothing of 3 to allow for a more price like behavior while still being rather smooth compared to raw price data. Conversely, you can increase this value to make this indicator behave smoother. Something to keep in mind is that the amount of delay from real time is equal to half of the smoothing period.
We have included a verity of alerts in this indicator. Here is a list of all of the available alerts: Bullish BOS, Bearish BOS, Bullish CHoCH, Bearish CHoCH, Bullish Divergence, Hidden Bullish Divergence, Bearish Divergence, Hidden Bearish Divergence, Cross Over Average, Cross Under Average.
Below are all of the inputs and their tooltips to get you started:
Settings:
Smoothing: Specifies the degree of smoothing applied to the oscillator. Higher values result in smoother but potentially less responsive signals.
Average Length: Sets the length of the moving average applied to the oscillator, affecting its sensitivity and smoothness.
Pivot Length: Specifies the forward-looking length for pivot points, affecting how the oscillator anticipates future price movements. This directly impacts the delay in finding a pivot.
Max Length: Sets the maximum length to consider for calculating the highest values in the oscillator.
Min Length: Defines the minimum length for calculating the lowest values in the oscillator.
Quick Update: Activates a faster update mode for the oscillator's extremities, which may result in less stable range boundaries.
Scale Offset: When enabled, delays updating minimum and maximum values to enhance signal directionality, allowing the signal to occasionally exceed normal bounds.
Candle Color: Enables coloring of candles based on the current directional signal of the oscillator.
Labels:
Enable BOS/CHoCH Labels: Activates the display of BOS (Break of Structure) and CHoCH (Change of Character) labels on the chart.
Visual Padding: Turns on additional visual padding at the top and bottom of the chart to accommodate labels. Determines the amount of visual padding added to the chart for label display.
Divergence:
Divergence Pivot: Defines the number of bars to the right of the pivot in divergence calculations, influencing the oscillator's responsiveness.
Divergence Pivot Forward: Directly impacts latency. Longer periods results in more accurate results at the sacrifice of delay.
Upper Range: Sets the upper range limit for divergence calculations, influencing the oscillator's sensitivity to larger trends.
Lower Range: Determines the lower range limit for divergence calculations, affecting the oscillator's sensitivity to shorter trends.
Symbol: Allows selection of the label style for divergence indicators, with options for text or symbolic representation.
Regular Bullish: Activates the detection and marking of regular bullish divergences in the oscillator.
Hidden Bullish: Enables the identification and display of hidden bullish divergences.
Regular Bearish: Turns on the feature to detect and highlight regular bearish divergences.
Hidden Bearish: Activates the functionality for detecting and displaying hidden bearish divergences.
Color:
Bullish: Determines the minimum/maximum color gradient for bullish signals, impacting the chart's visual appearance.
Bearish: Defines the minimum/maximum color gradient for bearish signals, affecting their visual representation.
Average: Specifies the color for the average line of the oscillator, enhancing chart readability.
CHoCH: Sets the color for bullish/bearish CHoCH (Change of Character) signals.
Premium/Discount: Determines the color for the premium/discount zone in the oscillator's visual representation.
Text Color: Sets the color for the text in BoS/CHoCH labels.
Regular Bullish: Defines the color used to represent regular bullish divergences.
Hidden Bullish: Specifies the color for hidden bullish divergences.
Regular Bearish: Determines the color for hidden bearish divergences.
Divergence Text Color: Specifies the color for the text in divergence labels.
ICT Times [joshu]This TradingView indicator provides a comprehensive view of ICT killzones, Silver Bullet times, and ICT Macros, enhancing your trading experience.
In those time windows price either seeks liquidity or imbalances and you often find the most energetic price moves and turning points.
Features:
Automatic Adaptation: The ICT killzones intelligently adapt to the specific chart you are using. For Forex charts, it follows the ICT Forex times:
Asia: 2000-0000
London: 0200-0500
New York: 0700-1000
London Close: 1000-1200
For other charts, it uses the following session times:
Asia: 2000-0000
London: 0200-0500
New York AM: 0830-1100
New York PM: 1330-1600
Silver Bullet Times:
0300-0400
1000-1100
1400-1500
How to Use:
Simply apply the indicator to your chart, and the session boxes and Silver Bullet times will be plotted automatically.
Ichimoku Oscillator With Divergences [ChartPrime]The Ichimoku Oscillator is a trading indicator designed to streamline the interpretation of Ichimoku clouds. It aims to refine and condense the complexities of the Chikou (the lag line), presenting its implications in real-time through an oscillator format, beneficial for those familiar with Ichimoku components but to have a new interpretation of their indicators.
The basics of an Ichimoku:
Conversion Line (Tenkan-Sen): It represents a midpoint of the highest and lowest prices over a specific period, usually 9 periods, reflecting short-term price movements.
Base Line (Kijun-Sen): It acts similarly to the Conversion Line but over a longer period, typically 26 periods, representing medium-term price movements.
Leading Span A & B (Kumo): Span A is the average of the Conversion Line and Base Line, and Span B is the midpoint of the highest and lowest prices over a usually longer period, typically 52 periods. Their interaction denotes trend direction, and the cloud color changes depending on whether Span A is above or below Span B, indicating bullish or bearish market conditions, respectively.
Lagging Span (Chikou Span): It is the current closing price plotted 26 periods behind, assisting in confirming the trend direction and potential momentum.
Advantage of an Oscillator:
Utilizing the oscillator format allows traders to interpret market dynamics more efficiently by visualizing the momentum and trend strength in a bounded range, enabling quick assessments of overbought or oversold conditions. Creating this oscillator provides multiple advantageous; particularly in sideway markets, helping to identify potential reversal points and offering insights on market entries and exits. When building this oscillator we've put a focus on unique interpretations such as overbought and sold areas and divergences; otherwise not found in traditional Ichimoku techniques. It is important to note these divergences are naturally not 100% real time.
When the oscillator turns green; the market is in an uptrend, red for downtrend and yellow for a transitioning market. The center line and the inner most cloud represent a balanced market state.
Key Features & Input Parameters:
Signal Source: Allows the selection of the price data source for signal generation, such as closing prices, and it’s the foundational parameter upon which the oscillator functions.
Normalization Settings: Users can select the normalization mode (“All”, “Window”, or “Disabled”), influencing how the oscillator scales its values. When enabled, it will scale from 100 to -100, allowing the user to understand better the relative positioning of price data.
Smoothing: This indicator offers advanced smoothing features, with options for additional smoothing, allowing traders to adjust the signal's sensitivity to price movements.
Kumo & Chikou Visibility: Traders can customize the visibility settings of Kumo and Chikou, tailoring the display of each component to their preference, enabling a cleaner and more intuitive view of market conditions.
Color Coding: Each component and condition, like bullish or bearish states, can be color-coded, providing visual cues to enhance the interpretability of market trends and states.
Color on Conversion: The oscillator provides an option to color the signal based on the crossover of the conversion and base lines.
Divergence: The oscillator can detect and highlight regular and hidden bullish and bearish divergences between the signal and price, aiding traders in identifying potential trend reversals or continuations.
Alerts:
The list of inbuilt alerts are provided below:
Inside Cloud: The signal line is inside the cloud.
Up Out of Cloud: The signal line crossed above the cloud.
Down Out of Cloud: The signal line crossed below the cloud.
Future Kumo Cross Bullish: The future Kumo lines have crossed in a bullish manner.
Future Kumo Cross Bearish: The future Kumo lines have crossed in a bearish manner.
Current Kumo Cross Bullish: The current Kumo lines have crossed in a bullish manner.
Current Kumo Cross Bearish: The current Kumo lines have crossed in a bearish manner.
Conversion Base Bullish: The conversion line crossed above the base line.
Conversion Base Bearish: The conversion line crossed below the base line.
Signal Bullish on Conversion Base: The signal line crossed above the maximum of conversion and base lines.
Signal Bearish on Conversion Base: The signal line crossed below the minimum of conversion and base lines.
Chikou Bullish: The Chikou line crossed above zero.
Chikou Bearish: The Chikou line crossed below zero.
Signal Over Max: The signal line crossed above the max level.
Signal Over High: The signal line crossed above the high level.
Signal Under Min: The signal line crossed below the min level.
Signal Under Low: The signal line crossed below the low level.
Chikou Over Max: The Chikou line crossed above the max level.
Chikou Over High: The Chikou line crossed above the high level.
Chikou Under Min: The Chikou line crossed below the min level.
Chikou Under Low: The Chikou line crossed below the low level.
Signal Crossover MA: The signal line crossed over the moving average.
Signal Crossunder MA: The signal line crossed under the moving average.
Regular Bullish Divergence: Regular bullish divergence detected.
Hidden Bullish Divergence: Hidden bullish divergence detected.
Regular Bearish Divergence: Regular bearish divergence detected.
Hidden Bearish Divergence: Hidden bearish divergence detected.
Bounce off of Kumo Up: Bullish Bounce off of Kumo.
Bounce off of Kumo Down: Bearish Bounce off of Kumo.
By providing a cohesive visualization of the Ichimoku elements and market momentum within a bounded range, this oscillator is a unique tool and insight into markets.
AI Momentum [YinYang]Overview:
AI Momentum is a kernel function based momentum Indicator. It uses Rational Quadratics to help smooth out the Moving Averages, this may give them a more accurate result. This Indicator has 2 main uses, first it displays ‘Zones’ that help you visualize the potential movement areas and when the price is out of bounds (Overvalued or Undervalued). Secondly it creates signals that display the momentum of the current trend.
The Zones are composed of the Highest Highs and Lowest lows turned into a Rational Quadratic over varying lengths. These create our Rational High and Low zones. There is however a second zone. The second zone is composed of the avg of the Inner High and Inner Low zones (yellow line) and the Rational Quadratic of the current Close. This helps to create a second zone that is within the High and Low bounds that may represent momentum changes within these zones. When the Rationalized Close crosses above the High and Low Zone Average it may signify a bullish momentum change and vice versa when it crosses below.
There are 3 different signals created to display momentum:
Bullish and Bearish Momentum. These signals display when there is current bullish or bearish momentum happening within the trend. When the momentum changes there will likely be a lull where there are neither Bullish or Bearish momentum signals. These signals may be useful to help visualize when the momentum has started and stopped for both the bulls and the bears. Bullish Momentum is calculated by checking if the Rational Quadratic Close > Rational Quadratic of the Highest OHLC4 smoothed over a VWMA. The Bearish Momentum is calculated by checking the opposite.
Overly Bullish and Bearish Momentum. These signals occur when the bar has Bullish or Bearish Momentum and also has an Rationalized RSI greater or less than a certain level. Bullish is >= 57 and Bearish is <= 43. There is also the option to ‘Factor Volume’ into these signals. This means, the Overly Bullish and Bearish Signals will only occur when the Rationalized Volume > VWMA Rationalized Volume as well as the previously mentioned factors above. This can be useful for removing ‘clutter’ as volume may dictate when these momentum changes will occur, but it can also remove some of the useful signals and you may miss the swing too if the volume just was low. Overly Bullish and Bearish Momentum may dictate when a momentum change will occur. Remember, they are OVERLY Bullish and Bearish, meaning there is a chance a correction may occur around these signals.
Bull and Bear Crosses. These signals occur when the Rationalized Close crosses the Gaussian Close that is 2 bars back. These signals may show when there is a strong change in momentum, but be careful as more often than not they’re predicting that the momentum may change in the opposite direction.
Tutorial:
As we can see in the example above, generally what happens is we get the regular Bullish or Bearish momentum, followed by the Rationalized Close crossing the Zone average and finally the Overly Bullish or Bearish signals. This is normally the order of operations but isn’t always how it happens as sometimes momentum changes don’t make it that far; also the Rationalized Close and Zone Average don’t follow any of the same math as the Signals which can result in differing appearances. The Bull and Bear Crosses are also quite sporadic in appearance and don’t generally follow any sort of order of operations. However, they may occur as a Predictor between Bullish and Bearish momentum, signifying the beginning of the momentum change.
The Bull and Bear crosses may be a Predictor of momentum change. They generally happen when there is no Bullish or Bearish momentum happening; and this helps to add strength to their prediction. When they occur during momentum (orange circle) there is a less likely chance that it will happen, and may instead signify the exact opposite; it may help predict a large spike in momentum in the direction of the Bullish or Bearish momentum. In the case of the orange circle, there is currently Bearish Momentum and therefore the Bull Cross may help predict a large momentum movement is about to occur in favor of the Bears.
We have disabled signals here to properly display and talk about the zones. As you can see, Rationalizing the Highest Highs and Lowest Lows over 2 different lengths creates inner and outer bounds that help to predict where parabolic movement and momentum may move to. Our Inner and Outer zones are great for seeing potential Support and Resistance locations.
The secondary zone, which can cross over and change from Green to Red is also a very important zone. Let's zoom in and talk about it specifically.
The Middle Zone Crosses may help deduce where parabolic movement and strong momentum changes may occur. Generally what may happen is when the cross occurs, you will see parabolic movement to the High / Low zones. This may be the Inner zone but can sometimes be the outer zone too. The hard part is sometimes it can be a Fakeout, like displayed with the Blue Circle. The Cross doesn’t mean it may move to the opposing side, sometimes it may just be predicting Parabolic movement in a general sense.
When we turn the Momentum Signals back on, we can see where the Fakeout occurred that it not only almost hit the Inner Low Zone but it also exhibited 2 Overly Bearish Signals. Remember, Overly bearish signals mean a momentum change in favor of the Bulls may occur soon and overly Bullish signals mean a momentum change in favor of the Bears may occur soon.
You may be wondering, well what does “may occur soon” mean and how do we tell?
The purpose of the momentum signals is not only to let you know when Momentum has occurred and when it is still prevalent. It also matters A LOT when it has STOPPED!
In this example above, we look at when the Overly Bullish and Bearish Momentum has STOPPED. As you can see, when the Overly Bullish or Bearish Momentum stopped may be a strong predictor of potential momentum change in the opposing direction.
We will conclude our Tutorial here, hopefully this Indicator has been helpful for showing you where momentum is occurring and help predict how far it may move. We have been dabbling with and are planning on releasing a Strategy based on this Indicator shortly.
Settings:
1. Momentum:
Show Signals: Sometimes it can be difficult to visualize the zones with signals enabled.
Factor Volume: Factor Volume only applies to Overly Bullish and Bearish Signals. It's when the Volume is > VWMA Volume over the Smoothing Length.
Zone Inside Length: The Zone Inside is the Inner zone of the High and Low. This is the length used to create it.
Zone Outside Length: The Zone Outside is the Outer zone of the High and Low. This is the length used to create it.
Smoothing length: Smoothing length is the length used to smooth out our Bullish and Bearish signals, along with our Overly Bullish and Overly Bearish Signals.
2. Kernel Settings:
Lookback Window: The number of bars used for the estimation. This is a sliding value that represents the most recent historical bars. Recommended range: 3-50.
Relative Weighting: Relative weighting of time frames. As this value approaches zero, the longer time frames will exert more influence on the estimation. As this value approaches infinity, the behavior of the Rational Quadratic Kernel will become identical to the Gaussian kernel. Recommended range: 0.25-25.
Start Regression at Bar: Bar index on which to start regression. The first bars of a chart are often highly volatile, and omission of these initial bars often leads to a better overall fit. Recommended range: 5-25.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
ICT Time Indicator - MinimalisticThis indicator is intended to make backtesting and journaling a lot easier.
This script will automatically plot the sessions you selec.t
You don't have to worry about your timezone because this indicator will automatically handle that.
For best results please don't go any higher than the Hourly.
I aimed to keep this indicator very minimalistic to reduce the 'lipstick' on your chart.
Enabling any of the follow settings will quickly show you on your chart the times you want to be looking at:
Morning Session
Lunch
Afternoon Session
Marco 0950-1010
Marco 1050-1110
Marco 1450-1510
Silver Bullet London Open
Silver Bullet AM
Silver Bullet PM
You can also customize the color of any time session to suite your color scheme.
If you have any requests please leave a comment (I'm sure there are more marcos) :)
Dee_MeterHere's how you can effectively use the Dee Meter indicator:
1. **Understanding the Basics**:
- Dee Meter evaluates the market sentiment across various sectors.
- It calculates the overall market trend and presents it in percentage form through a line graph.
2. **Indicator Results**:
- When you add the Dee Meter indicator to your chart, you'll notice two key results: Bull and Bear percentages, along with a line graph.
- The Bull percentage reflects the strength of bullish (positive) sentiment, while the Bear percentage indicates bearish (negative) sentiment.
- For example, if the Bull percentage is 55% and the Bear percentage is 45%, it signifies that the bulls currently have a stronger influence in the market.
3. **Interpreting Percentages**:
- Utilize the Bull and Bear percentages to craft your analysis strategy.
- A high Bull percentage in a bullish market suggests strong bullish momentum.
- In the case of a bullish trend showing signs of weakening (e.g., a double top pattern), monitor the Bull and Bear percentages for early reversal indications.
- A decrease in the Bull percentage and an increase in the Bear percentage could hint at a potential market reversal.
4. **Line Graph Analysis**:
- The line graph visually depicts the strength of bulls (green line) and bears (red line) over time.
- During a bullish trend, the green line rises while the red line remains lower, indicating bullish strength.
- Conversely, during a bearish trend, the red line climbs higher, indicating bearish dominance.
5. **Cross Over and Cross Under**:
- Cross-over and cross-under scenarios occur when the market abruptly reverses direction.
- For instance, in a bullish market that suddenly turns bearish, the red line could cross above the green line, indicating increased bearish power.
- In a bearish market that experiences a sudden influx of buying activity, the green line might cross above the red line, signifying strong buying interest.
6. **Applying the Indicator**:
- Use the Dee Meter to build your own trading strategies and make informed decisions.
- Keep an eye on changes in Bull and Bear percentages to identify shifts in market sentiment.
- Monitor line graph movements to assess the relative strength of bulls and bears.
In summary, the Dee Meter indicator is a valuable tool for assessing market sentiment and confirming trends in the Indian market. By understanding and utilizing the Bull and Bear percentages, line graph analysis, and cross-over/cross-under scenarios, you can develop effective trading strategies and trade with greater confidence.
MACDh with divergences & impulse system (overlayed on prices)-----------------------------------------------------------------
General Description:
This indicator ( the one on the top panel above ) consists on some lines, arrows and labels drawn over the price bars/candles indicating the detection of regular divergences between price and the classic MACD histogram (shown on the low panel). This script is special because it can be adjusted to fit several criteria when trading divergences filtering them according to the "height" and "width" of the patterns. The script also includes the "extra features" Impulse System and Keltner Channels, which you will hardly find anywhere else in similar classic MACD histogram divergence indicators.
The indicator helps to find trend reversals, and it works on any market, any instrument, any timeframe, and any market condition (except against really strong trends that do not show any other sign of reversion yet).
Please take on consideration that divergences should be taken with caution.
-----------------------------------------------------------------
Definition of classic Bullish and Bearish divergences:
* Bearish divergences occur in uptrends identifying market tops. A classical or regular bearish divergence occurs when prices reach a new high and then pull back, with an oscillator (MACD histogram in this case) dropping below its zero line. Prices stabilize and rally to a higher high, but the oscillator reaches a lower peak than it did on a previous rally.
In the chart above (weekly charts of NKE, Nike, Inc.), in area X (around August 2021), NKE rallied to a new bull market high and MACD-Histogram rallied with it, rising above its previous peak and showing that bulls were extremely strong. In area Y, MACD-H fell below its centerline and at the same time prices punched below the zone between the two moving averages. In area Z, NKE rallied to a new bull market high, but the rally of MACD-H was feeble, reflecting the bulls’ weakness. Its downtick from peak Z completed a bearish divergence, giving a strong sell signal and auguring a nasty bear market.
* Bullish divergences , in the other hand, occur towards the ends of downtrends identifying market bottoms. A classical (also called regular) bullish divergence occurs when prices and an oscillator (MACD histogram in this case) both fall to a new low, rally, with the oscillator rising above its zero line, then both fall again. This time, prices drop to a lower low, but the oscillator traces a higher bottom than during its previous decline.
In the example in the chart above (weekly charts of NKE, Nike, Inc.), you see a bearish divergence that signaled the October 2022 bear market bottom, giving a strong buy signal right near the lows. In area A, NKE (weekly charts) appeared in a free fall. The record low A of MACD-H indicated that bears were extremely strong. In area B, MACD-H rallied above its centerline. Notice the brief rally of prices at that moment. In area C, NKE slid to a new bear market low, but MACD-H traced a much more shallow low. Its uptick completed a bullish divergence, giving a strong buy signal.
-----------------------------------------------------------------
Some cool features included in this indicator:
1. This indicator also includes the “ Impulse System ”. The Impulse System is based on two indicators, a 13-day exponential moving average and the MACD-Histogram, and identifies inflection points where a trend speeds up or slows down. The moving average identifies the trend, while the MACD-Histogram measures momentum. This unique indicator combination is color coded into the price bars for easy reference.
Calculation:
Green Price Bar: (13-period EMA > previous 13-period EMA) and
(MACD-Histogram > previous period's MACD-Histogram)
Red Price Bar: (13-period EMA < previous 13-period EMA) and
(MACD-Histogram < previous period's MACD-Histogram)
Price bars are colored blue when conditions for a Red Price Bar or Green Price Bar are not met. The MACD-Histogram is based on MACD(12,26,9).
The Impulse System works more like a censorship system. Green price bars show that the bulls are in control of both trend and momentum as both the 13-day EMA and MACD-Histogram are rising (you don't have permission to sell). A red price bar indicates that the bears have taken control because the 13-day EMA and MACD Histogram are falling (you don't have permission to buy). A blue price bar indicates mixed technical signals, with neither buying nor selling pressure predominating (either both buying or selling are permitted).
2. Another "extra feature" included here is the " Keltner Channels ". Keltner Channels are volatility-based envelopes set above and below an exponential moving average.
3. It were also included a couple of EMAs.
Everything can be removed from the chart any time.
-----------------------------------------------------------------
Options/adjustments for this indicator:
*Horizontal Distance (width) between two tops/bottoms criteria.
Refers to the horizontal distance between the MACH histogram peaks involved in the divergence
*Height of tops/bottoms criteria (for Histogram).
Refers to the difference/relation/vertical distance between the MACH HISTOGRAM peaks involved in the divergence: 1st Histogram Peak is X times the 2nd.
*Height/Vertical deviation of tops/bottoms criteria (for Price).
Deviation refers to the difference/relation/vertical distance between the PRICE peaks involved in the divergence.
*Plot Regular Bullish Divergences?.
*Plot Regular Bearish Divergences?.
*Delete Previous Cancelled Divergences?.
*Shows a pair of EMAs.
*Shows Keltner Channels (using ATR)
Keltner Channels are volatility-based envelopes set above and below an exponential moving average.
*This indicator also has the option to show the Impulse System over the price bars/candles.
MACDh with divergences & impulse system-----------------------------------------------------------------
General Description:
This indicator ( the one on the low panel ) is a classic MACD that also shows regular divergences between its histogram and the prices. This script is special because it can be adjusted to fit several criteria when trading divergences filtering them according to the "height" and "width" of the patterns. The script also includes the "extra feature" Impulse System, which you will hardly find anywhere else in similar classic MACD histogram divergence indicators.
The indicator helps to find trend reversals, and it works on any market, any instrument, any timeframe, and any market condition (except against really strong trends that do not show any other sign of reversion yet).
Please take on consideration that divergences should be taken with caution.
-----------------------------------------------------------------
Definition of classic Bullish and Bearish divergences:
* Bearish divergences occur in uptrends identifying market tops. A classical or regular bearish divergence occurs when prices reach a new high and then pull back, with an oscillator (MACD histogram in this case) dropping below its zero line. Prices stabilize and rally to a higher high, but the oscillator reaches a lower peak than it did on a previous rally.
In the chart above (weekly charts of NKE, Nike, Inc.), in area X (around August 2021), NKE rallied to a new bull market high and MACD-Histogram rallied with it, rising above its previous peak and showing that bulls were extremely strong. In area Y, MACD-H fell below its centerline and at the same time prices punched below the zone between the two moving averages. In area Z, NKE rallied to a new bull market high, but the rally of MACD-H was feeble, reflecting the bulls’ weakness. Its downtick from peak Z completed a bearish divergence, giving a strong sell signal and auguring a nasty bear market.
* Bullish divergences , in the other hand, occur towards the ends of downtrends identifying market bottoms. A classical (also called regular) bullish divergence occurs when prices and an oscillator (MACD histogram in this case) both fall to a new low, rally, with the oscillator rising above its zero line, then both fall again. This time, prices drop to a lower low, but the oscillator traces a higher bottom than during its previous decline.
In the example in the chart above (weekly charts of NKE, Nike, Inc.), you see a bearish divergence that signaled the October 2022 bear market bottom, giving a strong buy signal right near the lows. In area A, NKE (weekly charts) appeared in a free fall. The record low A of MACD-H indicated that bears were extremely strong. In area B, MACD-H rallied above its centerline. Notice the brief rally of prices at that moment. In area C, NKE slid to a new bear market low, but MACD-H traced a much more shallow low. Its uptick completed a bullish divergence, giving a strong buy signal.
-----------------------------------------------------------------
Extra feature: Impulse System
This indicator also includes the “ Impulse System ”. The Impulse System is based on two indicators, a 13-day exponential moving average and the MACD-Histogram, and identifies inflection points where a trend speeds up or slows down. The moving average identifies the trend, while the MACD-Histogram measures momentum. This unique indicator combination is color coded into the price bars or macd histogram bars for easy reference.
Calculation:
Green Price Bar: (13-period EMA > previous 13-period EMA) and
(MACD-Histogram > previous period's MACD-Histogram)
Red Price Bar: (13-period EMA < previous 13-period EMA) and
(MACD-Histogram < previous period's MACD-Histogram)
Histogram bars are colored blue when conditions for a Red Histogram Bar or Green Histogram Bar are not met. The MACD-Histogram is based on MACD(12,26,9).
The Impulse System works more like a censorship system. Green histogram bars show that the bulls are in control of both trend and momentum as both the 13-day EMA and MACD-Histogram are rising (you don't have permission to sell). A red histogram bar indicates that the bears have taken control because the 13-day EMA and MACD Histogram are falling (you don't have permission to buy). A blue histogram bar indicates mixed technical signals, with neither buying nor selling pressure predominating (either both buying or selling are permitted).
The impulse system can be removed from the chart any time.
-----------------------------------------------------------------
Options/adjustments for this indicator:
*Horizontal Distance (width) between two tops/bottoms criteria.
Refers to the horizontal distance between the MACH histogram peaks involved in the divergence
*Height of tops/bottoms criteria (for Histogram).
Refers to the difference/relation/vertical distance between the MACH HISTOGRAM peaks involved in the divergence: 1st Histogram Peak is X times the 2nd.
*Height/Vertical deviation of tops/bottoms criteria (for Price).
Deviation refers to the difference/relation/vertical distance between the PRICE peaks involved in the divergence.
*Plot Regular Bullish Divergences?.
*Plot Regular Bearish Divergences?.
*Delete Previous Cancelled Divergences?.
*This indicator also has the option to show the Impulse System over the MACD histogram bars
ATR VisualizerAdvance Your Market Analysis with the True Range Indicator
The True Range Indicator is a sophisticated screener meticulously developed to bolster your trading execution by presenting an exceptional understanding of the market direction. The centerpiece of this instrument is a distinctive candle configuration depicting the Average True Range (ATR) and the Bear/Bull range. However, it traverses beyond the conventional channels to offer specific market settings to boost your trading decisions.
User-Defined Settings
Broadly, the indicator offers five dynamic settings:
Bear/Bull Range
The Bear/Bull Range outlines the ATR for each candle type - bearish and bullish - and then smartly opts for the pertinent one based on the prevalent market circumstances. This feature aids in comparing the range of bullish and bearish candlesticks, which deepens your understanding of the price action and volatility.
Bearish Range
The Bearish Range isolates and computes the ATR for bearish candles solely. Utilizing this option spots the bear-dominated periods and provides insights about potential market reversals or downward continuations.
Bullish Range
Opposite to the Bearish Range, the Bullish Range setting tabulates the ATR exclusively for bullish candles. It assists in tracking the periods when bulls control, enlightening traders about the possibility of upward continuations or trend reversals.
Average Range
The Average Range provides an unbiased measure of range without prioritizing either bull or bear trends. This model is ideal for traders looking for a holistic interpretation of market behavior, regardless of direction.
Cumulative Average Range
Equally significant is the Cumulative Average Range which calculates the aggregate moving average of the true ranges for an expressed period. This setting is extremely valuable when evaluating the long-term volatility and spotting potential breakouts.
Dual Candle Configuration
Going a step ahead, the True Range Indicator uniquely offers the possibility to incorporate more than one candle estimate on your screen. This ensures simultaneous analysis of multiple market dynamics, thereby enhancing your trading precision multifold.
Concluding Thoughts
In essence, the True Range Indicator is an indispensable companion for traders looking to not only leverage market volatility but also make educated predictions. Equipped with an array of insightful market settings and the ability to display dual candle estimates on-screen, you can customize the functionality to suit your unique trading style and magnify your market performance dramatically.
CNTLibraryLibrary "CNTLibrary"
Custom Functions To Help Code In Pinescript V5
Coded By Christian Nataliano
First Coded In 10/06/2023
Last Edited In 22/06/2023
Huge Shout Out To © ZenAndTheArtOfTrading and his ZenLibrary V5, Some Of The Custom Functions Were Heavily Inspired By Matt's Work & His Pine Script Mastery Course
Another Shout Out To The TradingView's Team Library ta V5
//====================================================================================================================================================
// Custom Indicator Functions
//====================================================================================================================================================
GetKAMA(KAMA_lenght, Fast_KAMA, Slow_KAMA)
Calculates An Adaptive Moving Average Based On Perry J Kaufman's Calculations
Parameters:
KAMA_lenght (int) : Is The KAMA Lenght
Fast_KAMA (int) : Is The KAMA's Fastes Moving Average
Slow_KAMA (int) : Is The KAMA's Slowest Moving Average
Returns: Float Of The KAMA's Current Calculations
GetMovingAverage(Source, Lenght, Type)
Get Custom Moving Averages Values
Parameters:
Source (float) : Of The Moving Average, Defval = close
Lenght (simple int) : Of The Moving Average, Defval = 50
Type (string) : Of The Moving Average, Defval = Exponential Moving Average
Returns: The Moving Average Calculation Based On Its Given Source, Lenght & Calculation Type (Please Call Function On Global Scope)
GetDecimals()
Calculates how many decimals are on the quote price of the current market © ZenAndTheArtOfTrading
Returns: The current decimal places on the market quote price
Truncate(number, decimalPlaces)
Truncates (cuts) excess decimal places © ZenAndTheArtOfTrading
Parameters:
number (float)
decimalPlaces (simple float)
Returns: The given number truncated to the given decimalPlaces
ToWhole(number)
Converts pips into whole numbers © ZenAndTheArtOfTrading
Parameters:
number (float)
Returns: The converted number
ToPips(number)
Converts whole numbers back into pips © ZenAndTheArtOfTrading
Parameters:
number (float)
Returns: The converted number
GetPctChange(value1, value2, lookback)
Gets the percentage change between 2 float values over a given lookback period © ZenAndTheArtOfTrading
Parameters:
value1 (float)
value2 (float)
lookback (int)
BarsAboveMA(lookback, ma)
Counts how many candles are above the MA © ZenAndTheArtOfTrading
Parameters:
lookback (int)
ma (float)
Returns: The bar count of how many recent bars are above the MA
BarsBelowMA(lookback, ma)
Counts how many candles are below the MA © ZenAndTheArtOfTrading
Parameters:
lookback (int)
ma (float)
Returns: The bar count of how many recent bars are below the EMA
BarsCrossedMA(lookback, ma)
Counts how many times the EMA was crossed recently © ZenAndTheArtOfTrading
Parameters:
lookback (int)
ma (float)
Returns: The bar count of how many times price recently crossed the EMA
GetPullbackBarCount(lookback, direction)
Counts how many green & red bars have printed recently (ie. pullback count) © ZenAndTheArtOfTrading
Parameters:
lookback (int)
direction (int)
Returns: The bar count of how many candles have retraced over the given lookback & direction
GetSwingHigh(Lookback, SwingType)
Check If Price Has Made A Recent Swing High
Parameters:
Lookback (int) : Is For The Swing High Lookback Period, Defval = 7
SwingType (int) : Is For The Swing High Type Of Identification, Defval = 1
Returns: A Bool - True If Price Has Made A Recent Swing High
GetSwingLow(Lookback, SwingType)
Check If Price Has Made A Recent Swing Low
Parameters:
Lookback (int) : Is For The Swing Low Lookback Period, Defval = 7
SwingType (int) : Is For The Swing Low Type Of Identification, Defval = 1
Returns: A Bool - True If Price Has Made A Recent Swing Low
//====================================================================================================================================================
// Custom Risk Management Functions
//====================================================================================================================================================
CalculateStopLossLevel(OrderType, Entry, StopLoss)
Calculate StopLoss Level
Parameters:
OrderType (int) : Is To Determine A Long / Short Position, Defval = 1
Entry (float) : Is The Entry Level Of The Order, Defval = na
StopLoss (float) : Is The Custom StopLoss Distance, Defval = 2x ATR Below Close
Returns: Float - The StopLoss Level In Actual Price As A
CalculateStopLossDistance(OrderType, Entry, StopLoss)
Calculate StopLoss Distance In Pips
Parameters:
OrderType (int) : Is To Determine A Long / Short Position, Defval = 1
Entry (float) : Is The Entry Level Of The Order, NEED TO INPUT PARAM
StopLoss (float) : Level Based On Previous Calculation, NEED TO INPUT PARAM
Returns: Float - The StopLoss Value In Pips
CalculateTakeProfitLevel(OrderType, Entry, StopLossDistance, RiskReward)
Calculate TakeProfit Level
Parameters:
OrderType (int) : Is To Determine A Long / Short Position, Defval = 1
Entry (float) : Is The Entry Level Of The Order, Defval = na
StopLossDistance (float)
RiskReward (float)
Returns: Float - The TakeProfit Level In Actual Price
CalculateTakeProfitDistance(OrderType, Entry, TakeProfit)
Get TakeProfit Distance In Pips
Parameters:
OrderType (int) : Is To Determine A Long / Short Position, Defval = 1
Entry (float) : Is The Entry Level Of The Order, NEED TO INPUT PARAM
TakeProfit (float) : Level Based On Previous Calculation, NEED TO INPUT PARAM
Returns: Float - The TakeProfit Value In Pips
CalculateConversionCurrency(AccountCurrency, SymbolCurrency, BaseCurrency)
Get The Conversion Currecny Between Current Account Currency & Current Pair's Quoted Currency (FOR FOREX ONLY)
Parameters:
AccountCurrency (simple string) : Is For The Account Currency Used
SymbolCurrency (simple string) : Is For The Current Symbol Currency (Front Symbol)
BaseCurrency (simple string) : Is For The Current Symbol Base Currency (Back Symbol)
Returns: Tuple Of A Bollean (Convert The Currency ?) And A String (Converted Currency)
CalculateConversionRate(ConvertCurrency, ConversionRate)
Get The Conversion Rate Between Current Account Currency & Current Pair's Quoted Currency (FOR FOREX ONLY)
Parameters:
ConvertCurrency (bool) : Is To Check If The Current Symbol Needs To Be Converted Or Not
ConversionRate (float) : Is The Quoted Price Of The Conversion Currency (Input The request.security Function Here)
Returns: Float Price Of Conversion Rate (If In The Same Currency Than Return Value Will Be 1.0)
LotSize(LotSizeSimple, Balance, Risk, SLDistance, ConversionRate)
Get Current Lot Size
Parameters:
LotSizeSimple (bool) : Is To Toggle Lot Sizing Calculation (Simple Is Good Enough For Stocks & Crypto, Whilst Complex Is For Forex)
Balance (float) : Is For The Current Account Balance To Calculate The Lot Sizing Based Off
Risk (float) : Is For The Current Risk Per Trade To Calculate The Lot Sizing Based Off
SLDistance (float) : Is The Current Position StopLoss Distance From Its Entry Price
ConversionRate (float) : Is The Currency Conversion Rate (Used For Complex Lot Sizing Only)
Returns: Float - Position Size In Units
ToLots(Units)
Converts Units To Lots
Parameters:
Units (float) : Is For How Many Units Need To Be Converted Into Lots (Minimun 1000 Units)
Returns: Float - Position Size In Lots
ToUnits(Lots)
Converts Lots To Units
Parameters:
Lots (float) : Is For How Many Lots Need To Be Converted Into Units (Minimun 0.01 Units)
Returns: Int - Position Size In Units
ToLotsInUnits(Units)
Converts Units To Lots Than Back To Units
Parameters:
Units (float) : Is For How Many Units Need To Be Converted Into Lots (Minimun 1000 Units)
Returns: Float - Position Size In Lots That Were Rounded To Units
ATRTrail(OrderType, SourceType, ATRPeriod, ATRMultiplyer, SwingLookback)
Calculate ATR Trailing Stop
Parameters:
OrderType (int) : Is To Determine A Long / Short Position, Defval = 1
SourceType (int) : Is To Determine Where To Calculate The ATR Trailing From, Defval = close
ATRPeriod (simple int) : Is To Change Its ATR Period, Defval = 20
ATRMultiplyer (float) : Is To Change Its ATR Trailing Distance, Defval = 1
SwingLookback (int) : Is To Change Its Swing HiLo Lookback (Only From Source Type 5), Defval = 7
Returns: Float - Number Of The Current ATR Trailing
DangerZone(WinRate, AvgRRR, Filter)
Calculate Danger Zone Of A Given Strategy
Parameters:
WinRate (float) : Is The Strategy WinRate
AvgRRR (float) : Is The Strategy Avg RRR
Filter (float) : Is The Minimum Profit It Needs To Be Out Of BE Zone, Defval = 3
Returns: Int - Value, 1 If Out Of Danger Zone, 0 If BE, -1 If In Danger Zone
IsQuestionableTrades(TradeTP, TradeSL)
Checks For Questionable Trades (Which Are Trades That Its TP & SL Level Got Hit At The Same Candle)
Parameters:
TradeTP (float) : Is The Trade In Question Take Profit Level
TradeSL (float) : Is The Trade In Question Stop Loss Level
Returns: Bool - True If The Last Trade Was A "Questionable Trade"
//====================================================================================================================================================
// Custom Strategy Functions
//====================================================================================================================================================
OpenLong(EntryID, LotSize, LimitPrice, StopPrice, Comment, CommentValue)
Open A Long Order Based On The Given Params
Parameters:
EntryID (string) : Is The Trade Entry ID, Defval = "Long"
LotSize (float) : Is The Lot Size Of The Trade, Defval = 1
LimitPrice (float) : Is The Limit Order Price To Set The Order At, Defval = Na / Market Order Execution
StopPrice (float) : Is The Stop Order Price To Set The Order At, Defval = Na / Market Order Execution
Comment (string) : Is The Order Comment, Defval = Long Entry Order
CommentValue (string) : Is For Custom Values In The Order Comment, Defval = Na
Returns: Void
OpenShort(EntryID, LotSize, LimitPrice, StopPrice, Comment, CommentValue)
Open A Short Order Based On The Given Params
Parameters:
EntryID (string) : Is The Trade Entry ID, Defval = "Short"
LotSize (float) : Is The Lot Size Of The Trade, Defval = 1
LimitPrice (float) : Is The Limit Order Price To Set The Order At, Defval = Na / Market Order Execution
StopPrice (float) : Is The Stop Order Price To Set The Order At, Defval = Na / Market Order Execution
Comment (string) : Is The Order Comment, Defval = Short Entry Order
CommentValue (string) : Is For Custom Values In The Order Comment, Defval = Na
Returns: Void
TP_SLExit(FromID, TPLevel, SLLevel, PercentageClose, Comment, CommentValue)
Exits Based On Predetermined TP & SL Levels
Parameters:
FromID (string) : Is The Trade ID That The TP & SL Levels Be Palced
TPLevel (float) : Is The Take Profit Level
SLLevel (float) : Is The StopLoss Level
PercentageClose (float) : Is The Amount To Close The Order At (In Percentage) Defval = 100
Comment (string) : Is The Order Comment, Defval = Exit Order
CommentValue (string) : Is For Custom Values In The Order Comment, Defval = Na
Returns: Void
CloseLong(ExitID, PercentageClose, Comment, CommentValue, Instant)
Exits A Long Order Based On A Specified Condition
Parameters:
ExitID (string) : Is The Trade ID That Will Be Closed, Defval = "Long"
PercentageClose (float) : Is The Amount To Close The Order At (In Percentage) Defval = 100
Comment (string) : Is The Order Comment, Defval = Exit Order
CommentValue (string) : Is For Custom Values In The Order Comment, Defval = Na
Instant (bool) : Is For Exit Execution Type, Defval = false
Returns: Void
CloseShort(ExitID, PercentageClose, Comment, CommentValue, Instant)
Exits A Short Order Based On A Specified Condition
Parameters:
ExitID (string) : Is The Trade ID That Will Be Closed, Defval = "Short"
PercentageClose (float) : Is The Amount To Close The Order At (In Percentage) Defval = 100
Comment (string) : Is The Order Comment, Defval = Exit Order
CommentValue (string) : Is For Custom Values In The Order Comment, Defval = Na
Instant (bool) : Is For Exit Execution Type, Defval = false
Returns: Void
BrokerCheck(Broker)
Checks Traded Broker With Current Loaded Chart Broker
Parameters:
Broker (string) : Is The Current Broker That Is Traded
Returns: Bool - True If Current Traded Broker Is Same As Loaded Chart Broker
OpenPC(LicenseID, OrderType, UseLimit, LimitPrice, SymbolPrefix, Symbol, SymbolSuffix, Risk, SL, TP, OrderComment, Spread)
Compiles Given Parameters Into An Alert String Format To Open Trades Using Pine Connector
Parameters:
LicenseID (string) : Is The Users PineConnector LicenseID
OrderType (int) : Is The Desired OrderType To Open
UseLimit (bool) : Is If We Want To Enter The Position At Exactly The Previous Closing Price
LimitPrice (float) : Is The Limit Price Of The Trade (Only For Pending Orders)
SymbolPrefix (string) : Is The Current Symbol Prefix (If Any)
Symbol (string) : Is The Traded Symbol
SymbolSuffix (string) : Is The Current Symbol Suffix (If Any)
Risk (float) : Is The Trade Risk Per Trade / Fixed Lot Sizing
SL (float) : Is The Trade SL In Price / In Pips
TP (float) : Is The Trade TP In Price / In Pips
OrderComment (string) : Is The Executed Trade Comment
Spread (float) : is The Maximum Spread For Execution
Returns: String - Pine Connector Order Syntax Alert Message
ClosePC(LicenseID, OrderType, SymbolPrefix, Symbol, SymbolSuffix)
Compiles Given Parameters Into An Alert String Format To Close Trades Using Pine Connector
Parameters:
LicenseID (string) : Is The Users PineConnector LicenseID
OrderType (int) : Is The Desired OrderType To Close
SymbolPrefix (string) : Is The Current Symbol Prefix (If Any)
Symbol (string) : Is The Traded Symbol
SymbolSuffix (string) : Is The Current Symbol Suffix (If Any)
Returns: String - Pine Connector Order Syntax Alert Message
//====================================================================================================================================================
// Custom Backtesting Calculation Functions
//====================================================================================================================================================
CalculatePNL(EntryPrice, ExitPrice, LotSize, ConversionRate)
Calculates Trade PNL Based On Entry, Eixt & Lot Size
Parameters:
EntryPrice (float) : Is The Trade Entry
ExitPrice (float) : Is The Trade Exit
LotSize (float) : Is The Trade Sizing
ConversionRate (float) : Is The Currency Conversion Rate (Used For Complex Lot Sizing Only)
Returns: Float - The Current Trade PNL
UpdateBalance(PrevBalance, PNL)
Updates The Previous Ginve Balance To The Next PNL
Parameters:
PrevBalance (float) : Is The Previous Balance To Be Updated
PNL (float) : Is The Current Trade PNL To Be Added
Returns: Float - The Current Updated PNL
CalculateSlpComm(PNL, MaxRate)
Calculates Random Slippage & Commisions Fees Based On The Parameters
Parameters:
PNL (float) : Is The Current Trade PNL
MaxRate (float) : Is The Upper Limit (In Percentage) Of The Randomized Fee
Returns: Float - A Percentage Fee Of The Current Trade PNL
UpdateDD(MaxBalance, Balance)
Calculates & Updates The DD Based On Its Given Parameters
Parameters:
MaxBalance (float) : Is The Maximum Balance Ever Recorded
Balance (float) : Is The Current Account Balance
Returns: Float - The Current Strategy DD
CalculateWR(TotalTrades, LongID, ShortID)
Calculate The Total, Long & Short Trades Win Rate
Parameters:
TotalTrades (int) : Are The Current Total Trades That The Strategy Has Taken
LongID (string) : Is The Order ID Of The Long Trades Of The Strategy
ShortID (string) : Is The Order ID Of The Short Trades Of The Strategy
Returns: Tuple Of Long WR%, Short WR%, Total WR%, Total Winning Trades, Total Losing Trades, Total Long Trades & Total Short Trades
CalculateAvgRRR(WinTrades, LossTrades)
Calculates The Overall Strategy Avg Risk Reward Ratio
Parameters:
WinTrades (int) : Are The Strategy Winning Trades
LossTrades (int) : Are The Strategy Losing Trades
Returns: Float - The Average RRR Values
CAGR(StartTime, StartPrice, EndTime, EndPrice)
Calculates The CAGR Over The Given Time Period © TradingView
Parameters:
StartTime (int) : Is The Starting Time Of The Calculation
StartPrice (float) : Is The Starting Price Of The Calculation
EndTime (int) : Is The Ending Time Of The Calculation
EndPrice (float) : Is The Ending Price Of The Calculation
Returns: Float - The CAGR Values
//====================================================================================================================================================
// Custom Plot Functions
//====================================================================================================================================================
EditLabels(LabelID, X1, Y1, Text, Color, TextColor, EditCondition, DeleteCondition)
Edit / Delete Labels
Parameters:
LabelID (label) : Is The ID Of The Selected Label
X1 (int) : Is The X1 Coordinate IN BARINDEX Xloc
Y1 (float) : Is The Y1 Coordinate IN PRICE Yloc
Text (string) : Is The Text Than Wants To Be Written In The Label
Color (color) : Is The Color Value Change Of The Label Text
TextColor (color)
EditCondition (int) : Is The Edit Condition of The Line (Setting Location / Color)
DeleteCondition (bool) : Is The Delete Condition Of The Line If Ture Deletes The Prev Itteration Of The Line
Returns: Void
EditLine(LineID, X1, Y1, X2, Y2, Color, EditCondition, DeleteCondition)
Edit / Delete Lines
Parameters:
LineID (line) : Is The ID Of The Selected Line
X1 (int) : Is The X1 Coordinate IN BARINDEX Xloc
Y1 (float) : Is The Y1 Coordinate IN PRICE Yloc
X2 (int) : Is The X2 Coordinate IN BARINDEX Xloc
Y2 (float) : Is The Y2 Coordinate IN PRICE Yloc
Color (color) : Is The Color Value Change Of The Line
EditCondition (int) : Is The Edit Condition of The Line (Setting Location / Color)
DeleteCondition (bool) : Is The Delete Condition Of The Line If Ture Deletes The Prev Itteration Of The Line
Returns: Void
//====================================================================================================================================================
// Custom Display Functions (Using Tables)
//====================================================================================================================================================
FillTable(TableID, Column, Row, Title, Value, BgColor, TextColor, ToolTip)
Filling The Selected Table With The Inputed Information
Parameters:
TableID (table) : Is The Table ID That Wants To Be Edited
Column (int) : Is The Current Column Of The Table That Wants To Be Edited
Row (int) : Is The Current Row Of The Table That Wants To Be Edited
Title (string) : Is The String Title Of The Current Cell Table
Value (string) : Is The String Value Of The Current Cell Table
BgColor (color) : Is The Selected Color For The Current Table
TextColor (color) : Is The Selected Color For The Current Table
ToolTip (string) : Is The ToolTip Of The Current Cell In The Table
Returns: Void
DisplayBTResults(TableID, BgColor, TextColor, StartingBalance, Balance, DollarReturn, TotalPips, MaxDD)
Filling The Selected Table With The Inputed Information
Parameters:
TableID (table) : Is The Table ID That Wants To Be Edited
BgColor (color) : Is The Selected Color For The Current Table
TextColor (color) : Is The Selected Color For The Current Table
StartingBalance (float) : Is The Account Starting Balance
Balance (float)
DollarReturn (float) : Is The Account Dollar Reture
TotalPips (float) : Is The Total Pips Gained / loss
MaxDD (float) : Is The Maximum Drawdown Over The Backtesting Period
Returns: Void
DisplayBTResultsV2(TableID, BgColor, TextColor, TotalWR, QTCount, LongWR, ShortWR, InitialCapital, CumProfit, CumFee, AvgRRR, MaxDD, CAGR, MeanDD)
Filling The Selected Table With The Inputed Information
Parameters:
TableID (table) : Is The Table ID That Wants To Be Edited
BgColor (color) : Is The Selected Color For The Current Table
TextColor (color) : Is The Selected Color For The Current Table
TotalWR (float) : Is The Strategy Total WR In %
QTCount (int) : Is The Strategy Questionable Trades Count
LongWR (float) : Is The Strategy Total WR In %
ShortWR (float) : Is The Strategy Total WR In %
InitialCapital (float) : Is The Strategy Initial Starting Capital
CumProfit (float) : Is The Strategy Ending Cumulative Profit
CumFee (float) : Is The Strategy Ending Cumulative Fee (Based On Randomized Fee Assumptions)
AvgRRR (float) : Is The Strategy Average Risk Reward Ratio
MaxDD (float) : Is The Strategy Maximum DrawDown In Its Backtesting Period
CAGR (float) : Is The Strategy Compounded Average GRowth In %
MeanDD (float) : Is The Strategy Mean / Average Drawdown In The Backtesting Period
Returns: Void
//====================================================================================================================================================
// Custom Pattern Detection Functions
//====================================================================================================================================================
BullFib(priceLow, priceHigh, fibRatio)
Calculates A Bullish Fibonacci Value (From Swing Low To High) © ZenAndTheArtOfTrading
Parameters:
priceLow (float)
priceHigh (float)
fibRatio (float)
Returns: The Fibonacci Value Of The Given Ratio Between The Two Price Points
BearFib(priceLow, priceHigh, fibRatio)
Calculates A Bearish Fibonacci Value (From Swing High To Low) © ZenAndTheArtOfTrading
Parameters:
priceLow (float)
priceHigh (float)
fibRatio (float)
Returns: The Fibonacci Value Of The Given Ratio Between The Two Price Points
GetBodySize()
Gets The Current Candle Body Size IN POINTS © ZenAndTheArtOfTrading
Returns: The Current Candle Body Size IN POINTS
GetTopWickSize()
Gets The Current Candle Top Wick Size IN POINTS © ZenAndTheArtOfTrading
Returns: The Current Candle Top Wick Size IN POINTS
GetBottomWickSize()
Gets The Current Candle Bottom Wick Size IN POINTS © ZenAndTheArtOfTrading
Returns: The Current Candle Bottom Wick Size IN POINTS
GetBodyPercent()
Gets The Current Candle Body Size As A Percentage Of Its Entire Size Including Its Wicks © ZenAndTheArtOfTrading
Returns: The Current Candle Body Size IN PERCENTAGE
GetTopWickPercent()
Gets The Current Top Wick Size As A Percentage Of Its Entire Body Size
Returns: Float - The Current Candle Top Wick Size IN PERCENTAGE
GetBottomWickPercent()
Gets The Current Bottom Wick Size As A Percentage Of Its Entire Bodu Size
Returns: Float - The Current Candle Bottom Size IN PERCENTAGE
BullishEC(Allowance, RejectionWickSize, EngulfWick, NearSwings, SwingLookBack)
Checks If The Current Bar Is A Bullish Engulfing Candle
Parameters:
Allowance (int) : To Give Flexibility Of Engulfing Pattern Detection In Markets That Have Micro Gaps, Defval = 0
RejectionWickSize (float) : To Filter Out long (Upper And Lower) Wick From The Bullsih Engulfing Pattern, Defval = na
EngulfWick (bool) : To Specify If We Want The Pattern To Also Engulf Its Upper & Lower Previous Wicks, Defval = false
NearSwings (bool) : To Specify If We Want The Pattern To Be Near A Recent Swing Low, Defval = true
SwingLookBack (int) : To Specify How Many Bars Back To Detect A Recent Swing Low, Defval = 10
Returns: Bool - True If The Current Bar Matches The Requirements of a Bullish Engulfing Candle
BearishEC(Allowance, RejectionWickSize, EngulfWick, NearSwings, SwingLookBack)
Checks If The Current Bar Is A Bearish Engulfing Candle
Parameters:
Allowance (int) : To Give Flexibility Of Engulfing Pattern Detection In Markets That Have Micro Gaps, Defval = 0
RejectionWickSize (float) : To Filter Out long (Upper And Lower) Wick From The Bearish Engulfing Pattern, Defval = na
EngulfWick (bool) : To Specify If We Want The Pattern To Also Engulf Its Upper & Lower Previous Wicks, Defval = false
NearSwings (bool) : To Specify If We Want The Pattern To Be Near A Recent Swing High, Defval = true
SwingLookBack (int) : To Specify How Many Bars Back To Detect A Recent Swing High, Defval = 10
Returns: Bool - True If The Current Bar Matches The Requirements of a Bearish Engulfing Candle
Hammer(Fib, ColorMatch, NearSwings, SwingLookBack, ATRFilterCheck, ATRPeriod)
Checks If The Current Bar Is A Hammer Candle
Parameters:
Fib (float) : To Specify Which Fibonacci Ratio To Use When Determining The Hammer Candle, Defval = 0.382 Ratio
ColorMatch (bool) : To Filter Only Bullish Closed Hammer Candle Pattern, Defval = false
NearSwings (bool) : To Specify If We Want The Doji To Be Near A Recent Swing Low, Defval = true
SwingLookBack (int) : To Specify How Many Bars Back To Detect A Recent Swing Low, Defval = 10
ATRFilterCheck (float) : To Filter Smaller Hammer Candles That Might Be Better Classified As A Doji Candle, Defval = 1
ATRPeriod (simple int) : To Change ATR Period Of The ATR Filter, Defval = 20
Returns: Bool - True If The Current Bar Matches The Requirements of a Hammer Candle
Star(Fib, ColorMatch, NearSwings, SwingLookBack, ATRFilterCheck, ATRPeriod)
Checks If The Current Bar Is A Hammer Candle
Parameters:
Fib (float) : To Specify Which Fibonacci Ratio To Use When Determining The Hammer Candle, Defval = 0.382 Ratio
ColorMatch (bool) : To Filter Only Bullish Closed Hammer Candle Pattern, Defval = false
NearSwings (bool) : To Specify If We Want The Doji To Be Near A Recent Swing Low, Defval = true
SwingLookBack (int) : To Specify How Many Bars Back To Detect A Recent Swing Low, Defval = 10
ATRFilterCheck (float) : To Filter Smaller Hammer Candles That Might Be Better Classified As A Doji Candle, Defval = 1
ATRPeriod (simple int) : To Change ATR Period Of The ATR Filter, Defval = 20
Returns: Bool - True If The Current Bar Matches The Requirements of a Hammer Candle
Doji(MaxWickSize, MaxBodySize, DojiType, NearSwings, SwingLookBack)
Checks If The Current Bar Is A Doji Candle
Parameters:
MaxWickSize (float) : To Specify The Maximum Lenght Of Its Upper & Lower Wick, Defval = 2
MaxBodySize (float) : To Specify The Maximum Lenght Of Its Candle Body IN PERCENT, Defval = 0.05
DojiType (int)
NearSwings (bool) : To Specify If We Want The Doji To Be Near A Recent Swing High / Low (Only In Dragonlyf / Gravestone Mode), Defval = true
SwingLookBack (int) : To Specify How Many Bars Back To Detect A Recent Swing High / Low (Only In Dragonlyf / Gravestone Mode), Defval = 10
Returns: Bool - True If The Current Bar Matches The Requirements of a Doji Candle
BullishIB(Allowance, RejectionWickSize, EngulfWick, NearSwings, SwingLookBack)
Checks If The Current Bar Is A Bullish Harami Candle
Parameters:
Allowance (int) : To Give Flexibility Of Harami Pattern Detection In Markets That Have Micro Gaps, Defval = 0
RejectionWickSize (float) : To Filter Out long (Upper And Lower) Wick From The Bullsih Harami Pattern, Defval = na
EngulfWick (bool) : To Specify If We Want The Pattern To Also Engulf Its Upper & Lower Previous Wicks, Defval = false
NearSwings (bool) : To Specify If We Want The Pattern To Be Near A Recent Swing Low, Defval = true
SwingLookBack (int) : To Specify How Many Bars Back To Detect A Recent Swing Low, Defval = 10
Returns: Bool - True If The Current Bar Matches The Requirements of a Bullish Harami Candle
BearishIB(Allowance, RejectionWickSize, EngulfWick, NearSwings, SwingLookBack)
Checks If The Current Bar Is A Bullish Harami Candle
Parameters:
Allowance (int) : To Give Flexibility Of Harami Pattern Detection In Markets That Have Micro Gaps, Defval = 0
RejectionWickSize (float) : To Filter Out long (Upper And Lower) Wick From The Bearish Harami Pattern, Defval = na
EngulfWick (bool) : To Specify If We Want The Pattern To Also Engulf Its Upper & Lower Previous Wicks, Defval = false
NearSwings (bool) : To Specify If We Want The Pattern To Be Near A Recent Swing High, Defval = true
SwingLookBack (int) : To Specify How Many Bars Back To Detect A Recent Swing High, Defval = 10
Returns: Bool - True If The Current Bar Matches The Requirements of a Bearish Harami Candle
//====================================================================================================================================================
// Custom Time Functions
//====================================================================================================================================================
BarInSession(sess, useFilter)
Determines if the current price bar falls inside the specified session © ZenAndTheArtOfTrading
Parameters:
sess (simple string)
useFilter (bool)
Returns: A boolean - true if the current bar falls within the given time session
BarOutSession(sess, useFilter)
Determines if the current price bar falls outside the specified session © ZenAndTheArtOfTrading
Parameters:
sess (simple string)
useFilter (bool)
Returns: A boolean - true if the current bar falls outside the given time session
DateFilter(startTime, endTime)
Determines if this bar's time falls within date filter range © ZenAndTheArtOfTrading
Parameters:
startTime (int)
endTime (int)
Returns: A boolean - true if the current bar falls within the given dates
DayFilter(monday, tuesday, wednesday, thursday, friday, saturday, sunday)
Checks if the current bar's day is in the list of given days to analyze © ZenAndTheArtOfTrading
Parameters:
monday (bool)
tuesday (bool)
wednesday (bool)
thursday (bool)
friday (bool)
saturday (bool)
sunday (bool)
Returns: A boolean - true if the current bar's day is one of the given days
AUSSess()
Checks If The Current Australian Forex Session In Running
Returns: Bool - True If Currently The Australian Session Is Running
ASIASess()
Checks If The Current Asian Forex Session In Running
Returns: Bool - True If Currently The Asian Session Is Running
EURSess()
Checks If The Current European Forex Session In Running
Returns: Bool - True If Currently The European Session Is Running
USSess()
Checks If The Current US Forex Session In Running
Returns: Bool - True If Currently The US Session Is Running
UNIXToDate(Time, ConversionType, TimeZone)
Converts UNIX Time To Datetime
Parameters:
Time (int) : Is The UNIX Time Input
ConversionType (int) : Is The Datetime Output Format, Defval = DD-MM-YYYY
TimeZone (string) : Is To Convert The Outputed Datetime Into The Specified Time Zone, Defval = Exchange Time Zone
Returns: String - String Of Datetime
cphelperLibrary "cphelper"
ACPU helper library - for private use. Not so meaningful for others.
calculate_rr(targetArray, rrArray, breakevenOnTarget1)
calculates risk reward for given targets
Parameters:
targetArray (float ) : array of targets
rrArray (float ) : array of risk reward
breakevenOnTarget1 (simple bool) : option to breakeven
Returns: array rrArray
trendPairs(l1StartX, l1StartY, l1EndX, l1EndY, l2StartX, l2StartY, l2EndX, l2EndY, zgColor)
creates trendline pairs
Parameters:
l1StartX (int) : startX of first line
l1StartY (float) : startY of first line
l1EndX (int) : endX of first line
l1EndY (float) : endY of first line
l2StartX (int) : startX of second line
l2StartY (float) : startY of second line
l2EndX (int) : endX of second line
l2EndY (float) : endY of second line
zgColor (color) : line color
Returns:
find_type(l1t, l2t, channelThreshold)
Finds type based on trendline pairs
Parameters:
l1t (line) : line1
l2t (line) : line2
channelThreshold (simple float) : theshold for channel identification
Returns: pattern type and flags
getFlags(flags)
Flatten flags
Parameters:
flags (bool ) : array of flags
Returns: - flattened flags isChannel, isTriangle, isWedge, isExpanding, isContracting, isFlat, isRising, isFalling
getType(typeNum)
Get type based on type number
Parameters:
typeNum (int) : number representing type
Returns: String value of type
getStatus(status, maxStatus)
Get status based on integer value representations
Parameters:
status (int) : integer representing current status
maxStatus (int) : integer representing max status
Returns: String status value
calculate_simple_targets(trendLines, settingsMatrix, patternTypeMapping, patternType)
Calculate targets based on trend lines
Parameters:
trendLines (line ) : trendline pair array
settingsMatrix (matrix) : matrix containing settings
patternTypeMapping (string ) : array containing pattern type mapping
patternType (int) : pattern type
Returns: arrays containing long and short calculated targets
recalculate_position(patternTypeAndStatusMatrix, targetMatrix, index, pIndex, status, maxStatus, targetValue, stopValue, dir, breakevenOnTarget1)
Recalculate position values
Parameters:
patternTypeAndStatusMatrix (matrix) : matrix containing pattern type and status
targetMatrix (matrix) : matrix containing targets
index (int) : current index
pIndex (int) : pattern index
status (int) : current status
maxStatus (int) : max status reached
targetValue (float) : current target value
stopValue (float) : current stop value
dir (int) : direction
breakevenOnTarget1 (simple bool) : flag to breakeven upon target1
Returns: new status and maxStatus values
draw_targets(longTargets, shortTargets, index, labelColor, patternName, positionIndex, longMaxStatus, longStatus, shortMaxStatus, shortStatus, tempBoxes, tempLines, tempLabels)
Draw targets on chart
Parameters:
longTargets (matrix) : matrix containing long targets
shortTargets (matrix) : matrix containing short targets
index (int) : current index
labelColor (color) : color of lines and labels
patternName (string) : Pattern name
positionIndex (int) : position on the chart
longMaxStatus (int) : max status for long
longStatus (int) : long status value
shortMaxStatus (int) : max status for short
shortStatus (int) : short status value
tempBoxes (box ) : temporary box array
tempLines (line ) : temporary lines array
tempLabels (label ) : temporary labels array
Returns: void
populate_open_stats(patternIdArray, barMatrix, patternTypeAndStatusMatrix, patternColorArray, longTargets, shortTargets, patternRRMatrix, OpenStatPosition, lblSizeOpenTrades)
Populate open stats table
Parameters:
patternIdArray (int ) : pattern Ids
barMatrix (matrix) : matrix containing bars
patternTypeAndStatusMatrix (matrix) : matrix containing pattern type and status
patternColorArray (color ) : array containing current patter colors
longTargets (matrix) : matrix of long targets
shortTargets (matrix) : matrix of short targets
patternRRMatrix (matrix) : pattern risk reward matrix
OpenStatPosition (simple string) : table position
lblSizeOpenTrades (simple string) : text size
Returns: void
draw_pattern_label(trendLines, patternFlagMatrix, patternTypeAndStatusMatrix, patternColorArray, patternFlags, patternLabelArray, zgColor, patternType, drawLabel, clearOldPatterns, safeRepaint, maxPatternsReference)
Parameters:
trendLines (line )
patternFlagMatrix (matrix)
patternTypeAndStatusMatrix (matrix)
patternColorArray (color )
patternFlags (bool )
patternLabelArray (label )
zgColor (color)
patternType (int)
drawLabel (simple bool)
clearOldPatterns (simple bool)
safeRepaint (simple bool)
maxPatternsReference (simple int)
populate_closed_stats(patternTypeAndStatusMatrix, bullishCounts, bearishCounts, bullishRetouchCounts, bearishRetouchCounts, bullishSizeMatrix, bearishSizeMatrix, bullishRR, bearishRR, ClosedStatsPosition, lblSizeClosedTrades, showSelectivePatternStats, showPatternStats, showStatsInPercentage)
Parameters:
patternTypeAndStatusMatrix (matrix)
bullishCounts (matrix)
bearishCounts (matrix)
bullishRetouchCounts (matrix)
bearishRetouchCounts (matrix)
bullishSizeMatrix (matrix)
bearishSizeMatrix (matrix)
bullishRR (matrix)
bearishRR (matrix)
ClosedStatsPosition (simple string)
lblSizeClosedTrades (simple string)
showSelectivePatternStats (simple bool)
showPatternStats (simple bool)
showStatsInPercentage (simple bool)
Directional Volume EStimate from Price Action (RedK D_VESPA)The "Directional Volume EStimate from Price Action (RedK D_VESPA)" is another weapon for the VPA (Volume Price Analysis) enthusiasts and traders who like to include volume-based insights & signals to their trading. The basic concept is to estimate the sell and buy split of the traded volume by extrapolating the price action represented by the shape of the associated price bar. We then create and plot an average of these "estimated buy & sell volumes" - the estimated average Net Volume is the balance between these 2 averages.
D_VESPA uses clear visualizations to represent the outcomes in a less distracting and more actionable way.
How does D_VESPA work?
-------------------------------------
The key assumption is that when price moves up, this is caused by "buy" volume (or increasing demand), and when the price moves down, this is due to "selling" volume (or increasing supply). Important to note that we are making our Buy/sell volume estimates here based on the shape of the price bar, and not looking into lower time frame volume data - This is a different approach and is still aligned to the key concepts of VPA.
Originally this work started as an improvement to my Supply/Demand Volume Viewer (V.Viewer) , I ended up re-writing the whole thing after some more research and work on VPA, to improve the estimation, visualization and usability / tradability.
Think of D_VESPA as the "Pro" version of V.Viewer -- and please go back and review the details of V.Viewer as the root concepts are the same so I won't repeat them here (as it comes to exploring Balance Zone and finding Price Convergence/Divergence)
Main Features of D_VESPA
--------------------------------------
- Update Supply/Demand calculation to include 2-bar gaps (improved algo)
- Add multiple options for the moving average (MA type) for the calculation - my preference is to use WMA
- Add option to show Net Volume as 3-color bars
- Visual simplification and improvements to be less distracting & more actionable
- added options to display/hide main visuals while maintaining the status line consistency (Avg Supply, Avg Demand, Avg Net)
- add alerts for NetVol moving into Buy (crosses 0 up) or Sell (crosses 0 down) modes - or swing from one mode to the other
(there are actually 2 sets of alerts, one set for the main NetVol plot, and the other for the secondary TF NetVol - give user more options on how to utilize D_VESPA)
Quick techie piece, how does the estimated buy/sell volume algo work ?
------------------------------------------------------------------------------------------
* per our assumption, buy volume is associated with price up-moves, sell volume is associated with price down-moves
* so each of the bulls and bears will get the equivalent of the top & bottom wicks,
* for up bars, bulls get the value of the "body", else the bears get the "body"
* open gaps are allocated to bulls or bears depending on the gap direction
The below sketch explains how D_VESPA estimates the Buy/Sell Volume split based on the bar shape (including gap) - the example shows a bullish bar with an opening gap up - but the concept is the same for a down-bar or a down-gap.
I kept both the "Volume Weighted" and "2-bar Gap Impact" as options in the indicator settings - these 2 options should be always kept selected. They are there for those who would like to experiment with the difference these changes have on the buy/sell estimation. The indicator will handle cases where there is no volume data for the selected symbol, and in that case, it will simply reflect Average Estimated Bull/Bear ratio of the price bar
The Secondary TF Est Average Net Volume:
---------------------------------------------------------
I added the ability to plot the Estimate Average Net Volume for a secondary timeframe - options 1W, 1D, 1H, or Same as Chart.
- this feature provides traders the confidence to trade the lower timeframes in the same direction as the prevailing "market mode"
- this also adds more MTF support beyond the existing TradingView's built-in MTF support capability - experiment with various settings between exposing the indicator's secondary TF plot, and changing the TF option in the indicator settings.
Note on the secondary TF NetVol plot:
- the secondary TF needs to be set to same as or higher TF than the chart's TF - if not, a warning sign would show and the plot will not be enabled. for example, a day trader may set the secondary TF to 1Hr or 1Day, while looking at 5min or 15min chart. A swing/trend trader who frequently uses the daily chart may set the secondary TF to weekly, and so on..
- the secondary TF NetVol plot is hidden by default and needs to be exposed thru the indicator settings.
the below chart shows D_VESPA on a the same (daily) chart, but with secondary TF plot for the weekly TF enabled
Final Thoughts
-------------------
* RedK D_VESPA is a volume indicator, that estimates buy/sell and net volume averages based on the price action reflected by the shape of the price bars - this can provide more insight on volume compared to the classic volume/VolAverage indicator and assist traders in exploring the market mode (buyers/sellers - bullish/bearish) and align trades to it.
* Because D_VESPA is a volume indicator, it can't be used alone to generate a trading signal - and needs to be combined with other indicators that analysis price value (range), momentum and trend. I recommend to at least combine D_VESPA with a variant of MACD and RSI to get a full view of the price action relative to the prevailing market and the broader trend.
* I found it very useful to take note and "read" how the Est Buy vs Est Sell lines move .. they sort of "tell a story" - experiment with this on your various chart and note the levels of estimate avg demand vs estimate avg supply that this indicator exposes for some very valuable insight about how the chart action is progressing. Please feel free to share feedback below.
Trend Oscillatorwhat is "Trend Oscillator"?
it is an indicator for determining the trend.
what it does?
analyzes the price action by reducing it to 4 different situations. Red means strong bear, orange means bearish, yellow means weak bull and green means strong bull. It was developed to help traders who trade in the direction of the trend and its biggest promise is to simplify price action.
how it does it?
He defines 4 different situations as follows. If the velocity of the price is positive and the acceleration is positive, it is a strong bull, if the velocity is positive and the acceleration is negative, it is a weak bull, if the velocity is negative and the acceleration is positive, it is a weak bear, if both velocity and acceleration are negative, it is a strong bear.
2 for strong bull
1 for the weak bull
-1 for weak bear
Creates a function that takes values of -2 for the strong bear. this function is the velocity of the principal indicator, and then the integral of this function forms the principal indicator.
how to use it?
"source" is used to change the source of the indicator,
"length" makes the indicator give a later but less signal.
you can use it to follow or analyze the trend. colors make it easy to use. learns about current or past trends by looking at colors. Like any trend indicator, it can give unsuccessful signals in a horizontal trend.
Bar metrics / quantifytools— Overview
Rather than eyeball evaluating bullishness/bearishness in any given bar, bar metrics allow a quantified approach using three basic fundamental data points: relative close, relative volatility and relative volume. These data points are visualized in a discreet data dashboard form, next to all real-time bars. Each value also has a dot in front, representing color coded extremes in the values.
Relative close represents position of bar's close relative to high and low, high of bar being 100% and low of bar being 0%. Relative close indicates strength of bulls/bears in a given bar, the higher the better for bulls, the lower the better for bears. Relative volatility (bar range, high - low) and relative volume are presented in a form of a multiplier, relative to their respective moving averages (SMA 20). A value of 1x indicates volume/volatility being on par with moving average, 2x indicates volume/volatility being twice as much as moving average and so on. Relative volume and volatility can be used for measuring general market participant interest, the "weight of the bar" as it were.
— Features
Users can gauge past bar metrics using lookback via input menu. Past bars, especially recent ones, are helpful for giving context for current bar metrics. Lookback bars are highlighted on the chart using a yellow box and metrics presented on the data dashboard with lookback symbols:
To inspect bar metric data and its implications, users can highlight bars with specified bracket values for each metric:
When bar highlighter is toggled on and desired bar metric values set, alert for the specified combination can be toggled on via alert menu. Note that bar highlighter must be enabled in order for alerts to function.
— Visuals
Bar metric dots are gradient colored the following way:
Relative volatility & volume
0x -> 1x / Neutral (white) -> Light (yellow)
1x -> 1.7x / Light (yellow) -> Medium (orange)
1.7x -> 2.4x / Medium (orange) -> Heavy (red)
Relative close
0% -> 25% / Heavy bearish (red) -> Light bearish (dark red)
25% -> 45% / Light bearish (dark red) -> Neutral (white)
45% - 55% / Neutral (white)
55% -> 75% / Neutral (white) -> Light bullish (dark green)
75% -> 100% / Light bullish (dark green) -> Heavy bullish (green)
All colors can be adjusted via input menu. Label size, label distance from bar (offset) and text format (regular/stealth) can be adjusted via input menu as well:
— Practical guide
As interpretation of bar metrics is highly contextual, it is especially important to use other means in conjunction with the metrics. Levels, oscillators, moving averages, whatever you have found useful for your process. In short, relative close indicates directional bias and relative volume/volatility indicates "weight" of directional bias.
General interpretation
High relative close, low relative volume/volatility = mildly bullish, bias up/consolidation
High relative close, medium relative volume/volatility = bullish, bias up
High relative close, high relative volume/volatility = exuberantly bullish, bias up/down depending on context
Medium relative close, low relative volume/volatility = noise, no bias
Medium relative close, medium to high relative volume/volatility = indecision, further evidence needed to evaluate bias
Low relative close, low relative volume/volatility = mildly bearish, bias down/consolidation
Low relative close, medium relative volume/volatility = bearish, bias down
Low relative close, high relative volume/volatility = exuberantly bearish, bias down/up depending on context
Nuances & considerations
As to relative close, it's important to note that each bar is a trading range when viewed on a lower timeframe, ES 1W vs. ES 4H:
When relative close is high, bulls were able to push price to range high by the time of close. When relative close is low, bears were able to push price to range low by the time of close. In other words, bulls/bears were able to gain the upper hand over a given trading range, hinting strength for the side that made the final push. When relative close is around middle range (40-60%), it can be said neither side is clearly dominating the range, hinting neutral/indecision bias from a relative close perspective.
As to relative volume/volatility, low values (less than ~0.7x) imply bar has low market participant interest and therefore is likely insignificant, as it is "lacking weight". Values close to or above 1x imply meaningful market participant interest, whereas values well above 1x (greater than ~1.3x) imply exuberance. This exuberance can manifest as initiation (beginning of a trend) or as exhaustion (end of a trend):
[blackcat] L3 Super Best Cost LineLevel: 3
Background
As suggested by @hedan1, he made a suggestion: this indicator can be further optimized to develop a dull line to filter the overall direction, and then use the sensitive line as a confirmation signal to enter.
One of my favourite tool to see fast trends which is simple but powerful. It runs under below market logic.
Function
With @hedan1's idea, the 1st thing i come up with is a two-layer structure: the inner sensitive part is the best cost line indicator, the outer layer is a supertrend indicator to control the overall trend direction.
Best cost line is a tool to model the people's mood and preference in the market. I define a typical price as wcx, when wcx is above the best cost line, which means traders are willing to use higher price to buy, then if you long, you are following the trend and make profit. On the other hand, if wcx is below the best cost line, which means traders are NOT willing to pursue higher price (maybe due to continous stop loss or sth other), then you should at least not long or if you are agressive in style, you may consider short.
That is it. Do you think it is simple and powerful enough?
Remarks
L: long entry, yellow
XL: close long, fuchsia
S: short entry, green
XS: close short, red
inner bullish: yellow color
inner bearish: fuchsia color
outer bullish: green color
outer bearish: red color
inner indicator : the best cost line
outer indicator : supertrend
also, i improved the display fucntinon remove some blur lines with linebr feature.
Feedbacks are appreciated.
New Highs-New-Lows on US Stock Market - Main Chart Edition#### ENGLISH ####
This script visualizes divergences between the price and new highs and new lows in the US stock market. The indicator should be used exclusively on the US stock indices (timeframe >= D).
This is the indicator for the main chart. It should be used together with the subchart indicator of the same name. In order to get the same results between the main and subchart editions, the indicator settings must be manually adjusted equally in both charts.
The approach:
Let's take a bull market as an example. A bull market is characterized by rising highs and rising lows. We can therefore assume that with the rising prices, the number of stocks that form new highs also rises or at least remains constant. This confirms the upward trend and thus expresses that it is supported by the broad stock market. If the market forms new highs and the number of stocks forming new highs decreases at the same moment, these new index highs are no longer supported by the broad stock market but exclusively by a few highly capitalized stocks. This creates a bearish divergence between the index and the NHNL indicator. This means that the uptrend tends to be overheated and a correction becomes more likely. Stops should be drawn closer.
The approach applies conversely, of course, to downtrends as well.
The indicator itself:
The number of new highs and lows (NHNL) are determined using the data sources included in Tradingview, such as "INDEX:HIGN" for NYSE highs. This data is provided on a daily basis. For higher time units (week, month) the daily numbers are shown summed up and not only the Friday value like most other NHNL indicators.
The signal strength is determined on the basis of two factors. The stronger the signal, the clearer (less transparent) the line/arrow. The two factors are on the one hand the strength of the divergence in and of itself, and on the other hand the strength of the overriding trend. The trend strength is determined using a 50 EMA on the NHNL indicator.
To avoid displaying every small divergence and to reduce false signals, the threshold for the signal strength can be set in the indicator settings.
#### GERMAN #####
Dieses script visualisiert Divergenzen zwischen dem Preis und neuer Hochs sowie neuer Tiefs im US Aktienmarkt. Der Indikator sollte ausschließlich auf den US Aktienindizes verwendet werden (Timeframe >= D).
Dies ist der Indikator für den Hauptchart. Er sollte zusammen mit dem gleichnamigen Subchart Indikator verwendet werden. Um gleiche Ergebnisse zwischen Haupt- und Subchart Edition zu erhalten, müssen die Indikatoreistellung manuell in beiden Charts gleichermaßen eigestellt werden.
Der Ansatz:
Nehmen wir uns als Beispiel einen Bullenmarkt. Ein Bullenmarkt zeichnet sich durch steigende Hochs und steigende Tiefs aus. Man kann also annehmen, dass mit den steigenden Preisen auch die Anzahl der Aktien die neuen Hochs ausbilden steigt oder zumindest konstant bleibt. Dies bestätigt den Aufwärtstrend und drückt somit aus, dass dieser vom breiten Aktienmarkt mitgetragen wird. Wenn der Markt neue Hochs bildet und die Anzahl der Aktien, die neue Hochs bilden im selben Moment sinkt, so werden diese neuen Indexhochs vom breiten Aktienmarkt nicht mehr getragen sonder ausschließlich von wenigen hochkapitalisierten Aktien. Es entsteht eine bärische Divergenz zwischen Index und dem NHNL Indikator. Das bedeutet, dass der Aufwärtstrend tendenziell überhitzt ist und ein Korrektur wahrscheinlicher wird. Die Stops sollten näher herangezogen werden.
Der Ansatz gilt umgekehrt natürlich auch bei Abwärtstrends.
Der Indikator an sich:
Die Anzahl der neuen Hochs und Tiefs (NHNL) werden anhand der in Tradingview enthaltenen Datenquellen wie z.B. "INDEX:HIGN" für die NYSE Hochs ermittelt. Diese Daten werden auf Tagesbasis bereitgestellt. Für höher Zeiteinheiten (Woche, Monat) werden die Tageszahlen aufsummiert dargestellt und nicht wie bei den meisten anderen NHNL Indikatoren nur der Freitagswert.
Die Signalstärke wird Anhand zweier Faktoren ermittelt. Je stärker das Signal um so deutlicher (weniger transparent) die Linie/der Pfeil. Die zwei Faktoren sind zum einen die stärke der Divergenz an und für sich, sowie zum anderen die Stärke des übergeordneten Trends. Die Trendstärke wird anhand eines 50er-EMA auf den NHNL-Indikator ermittelt.
Um nicht jede kleine Divergenz anzuzeigen und um Fehlsignale zu reduzieren, kann die Schwelle für die Signalstärke in den Indikatoreinstellungen festgelegt werden.
New Highs-New-Lows on US Stock Market - Sub Chart Edition#### ENGLISH ####
This script visualizes divergences between the price and new highs and new lows in the US stock market. The indicator should be used exclusively on the US stock indices (timeframe >= D).
This is the indicator for the sub chart. It should be used together with the main chart indicator of the same name. In order to get the same results between the main and subchart editions, the indicator settings must be manually adjusted equally in both charts.
The approach:
Let's take a bull market as an example. A bull market is characterized by rising highs and rising lows. We can therefore assume that with the rising prices, the number of stocks that form new highs also rises or at least remains constant. This confirms the upward trend and thus expresses that it is supported by the broad stock market. If the market forms new highs and the number of stocks forming new highs decreases at the same moment, these new index highs are no longer supported by the broad stock market but exclusively by a few highly capitalized stocks. This creates a bearish divergence between the index and the NHNL indicator. This means that the uptrend tends to be overheated and a correction becomes more likely. Stops should be drawn closer.
The approach applies conversely, of course, to downtrends as well.
The indicator itself:
The number of new highs and lows (NHNL) are determined using the data sources included in Tradingview, such as "INDEX:HIGN" for NYSE highs. This data is provided on a daily basis. For higher time units (week, month) the daily numbers are shown summed up and not only the Friday value like most other NHNL indicators.
The signal strength is determined on the basis of two factors. The stronger the signal, the clearer (less transparent) the line/arrow. The two factors are on the one hand the strength of the divergence in and of itself, and on the other hand the strength of the overriding trend. The trend strength is determined using a 50 EMA on the NHNL indicator.
To avoid displaying every small divergence and to reduce false signals, the threshold for the signal strength can be set in the indicator settings.
#### GERMAN #####
Dieses script visualisiert Divergenzen zwischen dem Preis und neuer Hochs sowie neuer Tiefs im US Aktienmarkt. Der Indikator sollte ausschließlich auf den US Aktienindizes verwendet werden (Timeframe >= D).
Dies ist der Indikator für den Subchart. Er sollte zusammen mit dem gleichnamigen Hauptchart Indikator verwendet werden. Um gleiche Ergebnisse zwischen Haupt- und Subchart Edition zu erhalten, müssen die Indikatoreistellung manuell in beiden Charts gleichermaßen eigestellt werden.
Der Ansatz:
Nehmen wir uns als Beispiel einen Bullenmarkt. Ein Bullenmarkt zeichnet sich durch steigende Hochs und steigende Tiefs aus. Man kann also annehmen, dass mit den steigenden Preisen auch die Anzahl der Aktien die neuen Hochs ausbilden steigt oder zumindest konstant bleibt. Dies bestätigt den Aufwärtstrend und drückt somit aus, dass dieser vom breiten Aktienmarkt mitgetragen wird. Wenn der Markt neue Hochs bildet und die Anzahl der Aktien, die neue Hochs bilden im selben Moment sinkt, so werden diese neuen Indexhochs vom breiten Aktienmarkt nicht mehr getragen sonder ausschließlich von wenigen hochkapitalisierten Aktien. Es entsteht eine bärische Divergenz zwischen Index und dem NHNL Indikator. Das bedeutet, dass der Aufwärtstrend tendenziell überhitzt ist und ein Korrektur wahrscheinlicher wird. Die Stops sollten näher herangezogen werden.
Der Ansatz gilt umgekehrt natürlich auch bei Abwärtstrends.
Der Indikator an sich:
Die Anzahl der neuen Hochs und Tiefs (NHNL) werden anhand der in Tradingview enthaltenen Datenquellen wie z.B. "INDEX:HIGN" für die NYSE Hochs ermittelt. Diese Daten werden auf Tagesbasis bereitgestellt. Für höher Zeiteinheiten (Woche, Monat) werden die Tageszahlen aufsummiert dargestellt und nicht wie bei den meisten anderen NHNL Indikatoren nur der Freitagswert.
Die Signalstärke wird Anhand zweier Faktoren ermittelt. Je stärker das Signal um so deutlicher (weniger transparent) die Linie/der Pfeil. Die zwei Faktoren sind zum einen die stärke der Divergenz an und für sich, sowie zum anderen die Stärke des übergeordneten Trends. Die Trendstärke wird anhand eines 50er-EMA auf den NHNL-Indikator ermittelt.
Um nicht jede kleine Divergenz anzuzeigen und um Fehlsignale zu reduzieren, kann die Schwelle für die Signalstärke in den Indikatoreinstellungen festgelegt werden.
Physics CandlesPhysics Candles embed volume and motion physics directly onto price candles or market internals according to the cyclic pattern of financial securities. The indicator works on both real-time “ticks” and historical data using statistical modeling to highlight when these values, like volume or momentum, is unusual or relatively high for some periodic window in time. Each candle is made out of one or more sub-candles that each contain their own information of motion, which converts to the color and transparency, or brightness, of that particular candle segment. The segments extend throughout the entire candle, both body and wicks, and Thick Wicks can be implemented to see the color coding better. This candle segmentation allows you to see if all the volume or energy is evenly distributed throughout the candle or highly contained in one small portion of it, and how intense these values are compared to similar time periods without going to lower time frames. Candle segmentation can also change a trader’s perspective on how valuable the information is. A “low” volume candle, for instance, could signify high value short-term stopping volume if the volume is all concentrated in one segment.
The Candles are flexible. The physics information embedded on the candles need not be from the same price security or market internal as the chart when using the Physics Source option, and multiple Candles can be overlayed together. You could embed stock price Candles with market volume, market price Candles with stock momentum, market structure with internal acceleration, stock price with stock force, etc. My particular use case is scalping the SPX futures market (ES), whose price action is also dictated by the volume action in the associated cash market, or SPY, as well as a host of other securities. Physics allows you to embed the ES volume on the SPY price action, or the SPY volume on the ES price action, or you can combine them both by overlaying two Candle streams and increasing the Number of Overlays option to two. That option decreases the transparency levels of your coloring scheme so that overlaying multiple Candles converges toward the same visual color intensity as if you had one. The Candle and Physics Sources allows for both Symbols and Spreads to visualize Candle physics from a single ticker or some mathematical transformation of tickers.
Due to certain TradingView programming restrictions, each Candle can only be made out of a maximum of 8 candle segments, or an “8-bit” resolution. Since limits are just an opportunity to go beyond, the user has the option to stack multiple Candle indicators together to further increase the candle resolution. If you don’t want to see the Candles for some particular period of the day, you can hide them, or use the hiding feature to have multiple Candles calibrated to show multiple parts of the trading day. Securities tend to have low volume after hours with sharp spikes at the open or close. Multiple Candles can be used for multiple parts of the trading day to accommodate these different cycles in volume.
The Candles do not need be associated with the nominal security listed on the TV chart. The Candle Source allows the user to look at AAPL Candles, for instance, while on a TSLA or SPY chart, each with their respective volume actions integrated into the candles, for instance, to allow the user to see multiple security price and volume correlation on a single chart.
The physics information currently embeddable on Candles are volume or time, velocity, momentum, acceleration, force, and kinetic energy. In order to apply equations of motion containing a mass variable to financial securities, some analogous value for mass must be assumed. Traders often regard volume or time as inextricable variables to a securities price that can indicate the direction and strength of a move. Since mass is the inextricable variable to calculating the momentum, force, or kinetic energy of motion, the user has the option to assume either time or volume is analogous to mass. Volume may be a better option for mass as it is not strictly dependent on the speed of a security, whereas time is.
Data transformations and outlier statistics are used to color code the intensity of the physics for each candle segment relative to past periodic behavior. A million shares during pre-market or a million shares during noontime may be more intense signals than a typical million shares traded at the open, and should have more intense color signals. To account for a specific cyclic behavior in the market, the user can specify the Window and Cycle Time Frames. The Window Time Frame splits up a Cycle into windows, samples and aggregates the statistics for each window, then compares the current physics values against past values in the same window. Intraday traders may benefit from using a Daily Cycle with a 30-minute Window Time Frame and 1-minute Sample Time Frame. These settings sample and compare the physics of 1-minute candles within the current 30-minute window to the same 30-minute window statistics for all past trading days, up until the data limit imposed by TradingView, or until the Data Collection Start Date specified in the settings. Longer-term traders may benefit from using a Monthly Cycle with a Weekly Time Frame, or a Yearly Cycle with a Quarterly Time Frame.
Multiple statistics and data transformation methods are available to convey relative intensity in different ways for different trading signals. Physics Candles allows for both Normal and Log-Normal assumptions in the physics distribution. The data can then be transformed by Linear, Logarithmic, Z-Score, or Power-Law scoring, where scoring simply assigns an intensity to the relative physics value of each candle segment based on some mathematical transformation. Z-scoring often renders adequate detection by scoring the segment value, such as volume or momentum, according to the mean and standard deviation of the data set in each window of the cycle. Logarithmic or power-law transformation with a gamma below 1 decreases the disparity between intensities so more less-important signals will show up, whereas the power-law transformation with gamma values above 1 increases the disparity between intensities, so less more-important signals will show up. These scores are then converted to color and transparency between the Min Score and the Max Score Cutoffs. The Auto-Normalization feature can automatically pick these cutoffs specific to each window based on the mean and standard deviation of the data set, or the user can manually set them. Physics was developed with novices in mind so that most users could calibrate their own settings by plotting the candle segment distributions directly on the chart and fiddling with the settings to see how different cutoffs capture different portions of the distribution and affect the relative color intensities differently. Security distributions are often skewed with fat-tails, known as kurtosis, where high-volume segments for example, have a higher-probabilities than expected for a normal distribution. These distribution are really log-normal, so that taking the logarithm leads to a standard bell-shaped distribution. Taking the Z-score of the Log-Normal distribution could make the most statistical sense, but color sensitivity is a discretionary preference.
Background Philosophy
This indicator was developed to study and trade the physics of motion in financial securities from a visually intuitive perspective. Newton’s laws of motion are loosely applied to financial motion:
“A body remains at rest, or in motion at a constant speed in a straight line, unless acted upon by a force”.
Financial securities remain at rest, or in motion at constant speed up or down, unless acted upon by the force of traders exchanging securities.
“When a body is acted upon by a force, the time rate of change of its momentum equals the force”.
Momentum is the product of mass and velocity, and force is the product of mass and acceleration. Traders render force on the security through the mass of their trading activity and the acceleration of price movement.
“If two bodies exert forces on each other, these forces have the same magnitude but opposite directions.”
Force arises from the interaction of traders, buyers and sellers. One body of motion, traders’ capitalization, exerts an equal and opposite force on another body of motion, the financial security. A securities movement arises at the expense of a buyer or seller’s capitalization.
Volume
The premise of this indicator assumes that volume, v, is an analogous means of measuring physical mass, m. This premise allows the application of the equations of motion to the movement of financial securities. We know from E=mc^2 that mass has energy. Energy can be used to create motion as kinetic energy. Taking a simple hypothetical example, the interaction of one short seller looking to cover lower and one buyer looking to sell higher exchange shares in a security at an agreed upon price to create volume or mass, and therefore, potential energy. Eventually the short seller will actively cover and buy the security from the previous buyer, moving the security higher, or the buyer will actively sell to the short seller, moving the security lower. The potential energy inherent in the initial consolidation or trading activity between buy and seller is now converted to kinetic energy on the subsequent trading activity that moves the securities price. The more potential energy that is created in the consolidation, the more kinetic energy there is to move price. This is why point and figure traders are said to give price targets based on the level of volatility or size of a consolidation range, or why Gann traders square price and time, as time is roughly proportional to mass and trading activity. The build-up of potential energy between short sellers and buyers in GME or TSLA led to their explosive moves beyond their standard fundamental valuations.
Position
Position, p, is simply the price or value of a financial security or market internal.
Time
Time, t, is another means of measuring mass to discover price behavior beyond the time snapshots that simple candle charts provide. We know from E=mc^2 that time is related to rest mass and energy given the speed of light, c, where time ≈ distance * sqrt(mass/E). This relation can also be derived from F=ma. The more mass there is, the longer it takes to compute the physics of a system. The more energy there is, the shorter it takes to compute the physics of a system. Similarly, more time is required to build a “resting” low-volatility trading consolidation with more mass. More energy added to that trading consolidation by competing buyers and sellers decreases the time it takes to build that same mass. Time is also related to price through velocity.
Velocity = (p(t1) – p(t0)) / p(t0)
Velocity, v, is the relative percent change of a securities price, p, over a period of time, t0 to t1. The period of time is between subsequent candles, and since time is constant between candles within the same timeframe, it is not used to calculate velocity or acceleration. Price moves faster with higher velocity, and slower with slower velocity, over the same fixed period of time. The product of velocity and mass gives momentum.
Momentum = mv
This indicator uses physics definition of momentum, not finance’s. In finance, momentum is defined as the amount of change in a securities price, either relative or absolute. This is definition is unfortunate, pun intended, since a one dollar move in a security from a thousand shares traded between a few traders has the exact same “momentum” as a one dollar move from millions of shares traded between hundreds of traders with everything else equal. If momentum is related to the energy of the move, momentum should consider both the level of activity in a price move, and the amount of that price move. If we equate mass to volume to account for the level of trading activity and use physics definition of momentum as the product of mass and velocity, this revised definition now gives a thousand-times more momentum to a one-dollar price move that has a thousand-times more volume behind it. If you want to use finance’s volume-less definition of momentum, use velocity in this indicator.
Acceleration = v(t1) – v(t0)
Acceleration, a, is the difference between velocities over some period of time, t0 to t1. Positive acceleration is necessary to increase a securities speed in the positive direction, while negative acceleration is necessary to decrease it. Acceleration is related to force by mass.
Force = ma
Force is required to change the speed of a securities valuation. Price movements with considerable force have considerably more impact on future direction. A change in direction requires force.
Kinetic Energy = 0.5mv^2
Kinetic energy is the energy that a financial security gains from the change in its velocity by force. The built-up of potential energy in trading consolidations can be converted to kinetic energy on a breakout from the consolidation.
Cycle Theory and Relativity
Just as the physics of motion is relative to a point of reference, so too should the physics of financial securities be relative to a point of reference. An object moving at a 100 mph towards another object moving in the same direction at 100 mph will not appear to be moving relative to each other, nor will they collide, but from an outsider observer, the objects are going 100 mph and will collide with significant impact if they run into a stationary object relative to the observer. Similarly, trading with a hundred thousand shares at the open when the average volume is a couple million may have a much smaller impact on the price compared to trading a hundred thousand shares pre-market when the average volume is ten thousand shares. The point of reference used in this indicator is the average statistics collected for a given Window Time Frame for every Cycle Time Frame. The physics values are normalized relative to these statistics.
Examples
The main chart of this publication shows the Force Candles for the SPY. An intense force candle is observed pre-market that implicates the directional overtone of the day. The assumption that direction should follow force arises from physical observation. If a large object is accelerating intensely in a particular direction, it may be fair to assume that the object continues its direction for the time being unless acted upon by another force.
The second example shows a similar Force Candle for the SPY that counters the assumption made in the first example and emphasizes the importance of both motion and context. While it’s fair to assume that a heavy highly accelerating object should continue its course, if that object runs into an obstacle, say a brick wall, it’s course may deviate. This example shows SPY running into the 50% retracement wall from the low of Mar 2020, a significant support level noted in literature. The example also conveys Gann’s idea of “lost motion”, where the SPY penetrated the 50% price but did not break through it. A brick wall is not one atom thick and price support is not one tick thick. An object can penetrate only one layer of a wall and not go through it.
The third example shows how Volume Candles can be used to identify scalping opportunities on the SPY and conveys why price behavior is as important as motion and context. It doesn’t take a brick wall to impede direction if you know that the person driving the car tends to forget to feed the cats before they leave. In the chart below, the SPY breaks down to a confluence of the 5-day SMA, 20-day SMA, and an important daily trendline (not shown) after the bullish bounce from the 50% retracement days earlier. High volume candles on the SMA signify stopping volume that reverse price direction. The character of the day changes. Bulls become more aggressive than bears with higher volume on upswings and resistance, whiles bears take on a defensive position with lower volume on downswings and support. High volume stopping candles are seen after rallies, and can tell you when to take profit, get out of a position, or go short. The character change can indicate that its relatively safe to re-enter bullish positions on many major supports, especially given the overarching bullish theme from the large reaction off the 50% retracement level.
The last example emphasizes the importance of relativity. The Volume Candles in the chart below are brightest pre-market even though the open has much higher volume since the pre-market activity is much higher compared to past pre-markets than the open is compared to past opens. Pre-market behavior is a good indicator for the character of the day. These bullish Volume Candles are some of the brightest seen since the bounce off the 50% retracement and indicates that bulls are making a relatively greater attempt to bring the SPY higher at the start of the day.
Infrequently Asked Questions
Where do I start?
The default settings are what I use to scalp the SPY throughout most of the extended trading day, on a one-minute chart using SPY volume. I also overlay another Candle set containing ES future volume on the SPY price structure by setting the Physics Source to ES1! and the Number of Overlays setting to 2 for each Candle stream in order to account for pre- and post-market trading activity better. Since the closing volume is exponential-like up until the end of the regular trading day, adding additional Candle streams with a tighter Window Time Frame (e.g., 2-5 minute) in the last 15 minutes of trading can be beneficial. The Hide feature can allow you to set certain intraday timeframes to hide one Candle set in order to show another Candle set during that time.
How crazy can you get with this indicator?
I hope you can answer this question better. One interesting use case is embedding the velocity of market volume onto an internal market structure. The PCTABOVEVWAP.US is a market statistic that indicates the percent of securities above their VWAP among US stocks and is helpful for determining short term trends in the US market. When securities are rising above their VWAP, the average long is up on the day and a rising PCTABOVEVWAP.US can be viewed as more bullish. When securities are falling below their VWAP, the average short is up on the day and a falling PCTABOVEVWAP.US can be viewed as more bearish. (UPVOL.US - DNVOL.US) / TVOL.US is a “spread” symbol, in TV parlance, that indicates the decimal percent difference between advancing volume and declining volume in the US market, showing the relative flow of volume between stocks that are up on the day, and stocks that are down on the day. Setting PCTABOVEVWAP.US in the Candle Source, (UPVOL.US - DNVOL.US) / TVOL.US in the Physics Source, and selecting the Physics to Velocity will embed the relative velocity of the spread symbol onto the PCTABOVEVWAP.US candles. This can be helpful in seeing short term trends in the US market that have an increasing amount of volume behind them compared to other trends. The chart below shows Volume Candles (top) and these Spread Candles (bottom). The first top at 9:30 and second top at 10:30, the high of the day, break down when the spread candles light up, showing a high velocity volume transfer from up stocks to down stocks.
How do I plot the indicator distribution and why should I even care?
The distribution is visually helpful in seeing how different normalization settings effect the distribution of candle segments. It is also helpful in seeing what physics intensities you want to ignore or show by segmenting part of the distribution within the Min and Max Cutoff values. The intensity of color is proportional to the physics value between the Min and Max Cutoff values, which correspond to the Min and Max Colors in your color scheme. Any physics value outside these Min and Max Cutoffs will be the same as the Min and Max Colors.
Select the Print Windows feature to show the window numbers according to the Cycle Time Frame and Window Time Frame settings. The window numbers are labeled at the start of each window and are candle width in size, so you may need to zoom into to see them. Selecting the Plot Window feature and input the window number of interest to shows the distribution of physics values for that particular window along with some statistics.
A log-normal volume distribution of segmented z-scores is shown below for 30-minute opening of the SPY. The Min and Max Cutoff at the top of the graph contain the part of the distribution whose intensities will be linearly color-coded between the Min and Max Colors of the color scheme. The part of the distribution below the Min Cutoff will be treated as lowest quality signals and set to the Min Color, while the few segments above the Max Cutoff will be treated as the highest quality signals and set to the Max Color.
What do I do if I don’t see anything?
Troubleshooting issues with this indicator can involve checking for error messages shown near the indicator name on the chart or using the Data Validation section to evaluate the statistics and normalization cutoffs. For example, if the Plot Window number is set to a window number that doesn’t exist, an error message will tell you and you won’t see any candles. You can use the Print Windows option to show windows that do exist for you current settings. The auto-normalization cutoff values may be inappropriate for your particular use case and literally cut the candles out of the chart. Try changing the chart time frame to see if they are appropriate for your cycle, sample and window time frames. If you get a “Timeframe passed to the request.security_lower_tf() function must be lower than the timeframe of the main chart” error, this means that the chart timeframe should be increased above the sample time frame. If you get a “Symbol resolve error”, ensure that you have correct symbol or spread in the Candle or Physics Source.
How do I see a relative physics values without cycles?
Set the Window Time Frame to be equal to the Cycle Time Frame. This will aggregate all the statistics into one bucket and show the physics values, such as volume, relative to all the past volumes that TV will allow.
How do I see candles without segmentation?
Segmentation can be very helpful in one context or annoying in another. Segmentation can be removed by setting the candle resolution value to 1.
Notes
I have yet to find a trading platform that consistently provides accurate real-time volume and pricing information, lacking adequate end-user data validation or quality control. I can provide plenty of examples of real-time volume counts or prices provided by TradingView and other platforms that were significantly off from what they should have been when comparing against the exchanges own data, and later retroactively corrected or not corrected at all. Since no indicator can work accurately with inaccurate data, please use at your own discretion.
The first version is a beta version. Debugging and validating code in Pine script is difficult without proper unit testing. Please report any bugs with enough information to reproduce them and indicate why they are important. I also encourage you to export the data from TradingView and verify the calculations for your particular use case.
The indicator works on real-time updates that occur at a higher frequency than the candle time frame, which TV incorrectly refers to as ticks. They use this terminology inaccurately as updates are really aggregated tick data that can take place at different prices and may not accurately reflect the real tick price action. Consequently, this inaccuracy also impacts the real-time segmentation accuracy to some degree. TV does not provide a means of retaining “tick” information, so the higher granularity of information seen real-time will be lost on a disconnect.
TV does not provide time and sales information. The volume and price information collected using the Sample Time Frame is intraday, which provides only part of the picture. Intraday volume is generally 50 to 80% of the end of day volume. Consequently, the daily+ OHLC prices are intraday, and may differ significantly from exchanged settled OHLC prices.
The Cycle and Window Time Frames refer to calendar days and time, not trading days or time. For example, the first window week of a monthly cycle is the first seven days of the month, not the first Monday through Friday of trading for the month.
Chart Time Frames that are higher than the Window Time Frames average the normalized physics for price action that occurred within a given Candle segment. It does not average price action that did not occur.
One of the main performance bottleneck in TradingView’s Pine Script is client-side drawing and plotting. The performance of this indicator can be increased by lowering the resolution (the number of sub-candles this indicator plots), getting a faster computer, or increasing the performance of your computer like plugging your laptop in and eliminating unnecessary processes.
The statistical integrity of this indicator relies on the number of samples collected per sample window in a given cycle. Higher sample counts can be obtained by increasing the chart time frame or upgrading the TradingView plan for a higher bar count. While increasing the chart time frame doesn’t increase the visual number of bars plotted on the chart, it does increase the number of bars that can be pulled at a lower time frame, up to 100,000.
Due to a limitation in Pine Scripts request_lower_tf() function, using a spread symbol will only work for regular trading hours, not extended trading hours.
Ideally, velocity or momentum should be calculated between candle closes. To eliminate the need to deal with price gaps that would lead to an incorrect statistical distributions, momentum is calculated between candle open and closes as a percent change of the price or value, which should not be an issue for most liquid securities.
