Triple Colored Least Squares Moving Average + Crossover AlertsThis script is forked from the ‘ Double Colored Least Squares Moving Average + Crossover Alerts ‘ from @IronKnightmare.
First release & notes : 2021-11-03.
Overview:
The Least Squares Moving Average is used mainly as a crossover signal to identify bullish or bearish trends. When a shorter duration line cross a longer one a trend can be identified. When multiple lines or the price action cross a longterm trend the confirmation can be further validated. Tradingview contains already some indicators with 1 or two LSMA trendlines that can be configured and toggled.
The original script that I forked had two LSMA lines that could be plotted with other valuable functions, I added a third for further confirmation as some trading systems will use three lines or some combination of those for validation.
Usage:
In inputs
- You will see LSMA 1, LSMA 2 & LSMA 3. The default values are 40, 100 & 400 representing the number of periods plotted by that line : fast, medium and slow changing trendlines will be plotted. The offset value and source are standard for most scripts.
In Style
- You can toggle LSMA 1, 2 or 3 and any combination of those. There are much more possibilities this way.
- For each LSMA, Color 0 & Color 1 are for coloring the slope of the trendline,
- Color 0 for rising slope,
- Color 1 for descending slope.
- The script will automatically color the rise or fall of the trendline accordingly. You can also set one identical color in both slopes for one unique color.
- The ‘ Long Crossover 1 on 2 ’ is a signal for when the LSMA 1 cross over the LSMA 2, usually a shorter periods trendline, more volatile, climbing over the medium term one. A Signal will be traced on the chart at that crossing, you can configure this. The ‘Short Crossover 1 on 2’ is when the LSMA 1 cross under the LSMA 2, a signal will be traced on the chart accordingly.
- The Long Crossover 1 on 3 & Short Crossover 1 on 3 act on the same principle, although the crossing of the fast LSMA on the long / slow LSMA are used. Both can be toggled.
- The ‘ Background Coloring Line 1 : 0-Neutral, 1-Up, 2-Down ’ is an optional background coloring for the LSMA1 line. This can provide additional information at a quick glance, especially if you combine the two other lines backgrounds, the partial transparency will compound.
Search in scripts for "THE SCRIPT"
TradingGroundhog - Strategy & Fractal V1#-- Public Strategy - No Repaint - Fractals -- Short term
Here I come with another script, more simple than Wavetrend V1. You will love it.
#-- Synopsis --
Another simple idea, on a small time frame (15 min) we buy when the opening price goes below a Bottom fractals and sell when it goes over a Top fractals, but as this script do not use Wavetrends. You should stop by your self to use the script during long lasting downtrends.
I developed the strategy using BTC /EUR 3 MIN BINANCE but it can be applied to many other cryptos, I don't know for forex or others. You can use it for short term (to a month of uptrend) and automated trading.
#-- Graph reading --
And now, how to read it ?
Fractals:
Yellow Flags occur when the opening price goes below a Bottom fractal , it means Buy.
White Flags appear when the opening price goes over a Top fractal , it means Sell.
#-- Parameters --
*** Parameters have been intensively optimized using 10 cryptocurrency markets in order to have potent efficiency for each of them. I would recommend to only change the Can Be touch parameter. For the others, I don't recommend any modifications. The idea behind the script is to be able to switch between markets without having to optimize parameters, less work, easy to target active crypto and therefor limit the risks. ***
Can be touch :
'Filter fractals' : Activate or Disable the filtering fractal operation. If Enable, buy during less risky periods. (Activate is often better)
Can be touch but not necessary :
'VolumeMA' : The Volume corrector used by the fractals
'Extreme window' : The number of price individuals to look for if we want to remove extreme fractals.
Not to touch :
'Long Sop Loss (%)' : The minimal difference of price between a Fractal bottom and the opening price to buy.
#-- Time frame --
Should be used with the following time frames depending on the necessity:
1 MIN
3 MIN (Preferred with the parameters set)
5 MIN
#-- Last words --
The script can be set up to send Tradingview signals to 3comma just by adding comment = " " in strategy.close_all() and strategy.entry().
Good trades !
Disclaimer (As it should always be one to any script)
***
This script is intended for and only to be used for personal purposes only. No such information provided by it constitutes advice or a recommendation for any investment or trading strategy for any specific person. There is no guarantee presented or implied as to the accuracy of specific forecasts, projections, or predictive statements offered by the script. Users of the script agree that its original developer does not take responsibility for any of your investment decisions. Please seek professional advice before trading.
***
# Here are the results from the 20rst of September 2021 with 100% of equity on the BTC /EUR 3 Min and with a capital of 10 000 EUR. So almost, one month.
# As I saw, it goes from +30% to more than +160% (the great SHIB) depending on the selected crypto. It may be negative if you spot a downtrend.
TradingGroundhog - Strategy & Wavetrend V2#-- Public Strategy - No Repaint - Fractals - Wavetrend --
Here I come with another script, a nice and simple strategy based on fractals and Wavetrends.
#-- Synopsis --
A simple idea, on a small time frame (15 min) we buy when the opening price goes below a Bottom fractals and sell when it goes over a Top fractals, but in order to avoid bad and evil downtrends, we use Wavetrends based on a Daily time frame. From it, Tops and Bottoms are extracted. If the opening price goes above Wavetrend Tops, no trades will be conducted during the day. If the price goes below Wavetrend bottoms, no trades will be executed from 1 to N days, until a new Wavetrend bottom is generated.
I developed the strategy using BTC /EUR 15 MIN BINANCE but it can be applied to many other cryptos, I don't know for forex or others. You can use it for long term and automated trading, I implemented the Wavetrend indicator to do so, or for short term if you have spot a long coming uptrend. Test it, look at its profit and long or short period on your crypto of choice.
#-- Graph reading --
And now, how to read it ?
Wavetrends:
Red Backgrounds are associated to No Trade periods. These periods occur when the price goes below a Wavetrend bottom or above a Wavetrend Top. They are here to limit the loss.
Blue Gradient lines represent the past Tops. For each bar, only the increasing values of the Wavetrend tops are acquired. Going from light to dark blue based on the age of the Tops. Thus, if on line goes from dark to light, this means the price is approaching a previous Wavetrend top. In the opposite, if it darken, thus the price say 'buy buy' and go dropping.
Yellow Gradient lines represent the past Bottoms. They are based on the same principe that the blue lines.
Fractals:
Yellow Flags occur when the opening price goes below a Bottom fractal , it means Buy.
White Flags appear when the opening price goes over a Top fractal , it means Sell.
#-- Parameters --
*** Parameters have been intensively optimized using 10 cryptocurrency markets in order to have potent efficiency for each of them. I would recommend to only change the Can Be touch parameter. For the others, I don't recommend any modifications. The idea behind the script is to be able to switch between markets without having to optimize parameters, less work, easy to target active crypto and therefor limit the risks. ***
Can be touch :
'Combined Smoothness' : The number of open individuals used by the Wavetrend. (6 or 9, often 9 is better but with less volatile crypto it will be 6)
'Filter fractals' : Activate or Disable the filtering fractal operation. If Enable, buy during less risky periods. (Disable is often better)
Can be touch but not necessary :
'VolumeMA' : The Volume corrector used by the fractals
'Extreme window' : The number of price individuals to look for if we want to remove extreme fractals.
Not to touch :
'Limit_candle to look on' : Number of candles to use to compute the Wavetrend Tops and Bottoms.
'Length top bottom drawn' : Size of the lines
'Long Sop Loss (%)' : The minimal difference of price between a Fractal bottom and the opening price to buy.
#-- Time frame --
Should be used with the following time frames depending on the necessity:
1 MIN
3 MIN (Interesting for short term profit, may need some parameter ajustements)
5 MIN
15 MIN (Preferred for long term profit, the script was developed on it)
#-- Last words --
The script can be set up to send Tradingview signals to 3comma just by adding comment = " " in strategy.close_all() and strategy.entry().
Good trades !
Disclaimer (As it should always be one to any script)
***
This script is intended for and only to be used for personal purposes only. No such information provided by it constitutes advice or a recommendation for any investment or trading strategy for any specific person. There is no guarantee presented or implied as to the accuracy of specific forecasts, projections, or predictive statements offered by the script. Users of the script agree that its original developer does not take responsibility for any of your investment decisions. Please seek professional advice before trading.
***
# Here are the results from the 1rst of July 2021 with 100% of equity on the BTC /EUR 15 Min and with a capital of 1 000 EUR.
# As I saw, it goes from +20% to more than +100% depending on the selected crypto. Sometimes it's negative but it's quite rare on crypto using the EUR.
BULLSEYE BORDERS (Combined Price Action Follower)Developed for Crypto Currency Market! Use for 15 minutes period or more! Under 15 minutes, results are unpredictible.
This script had been orginized with Donchian Lines based on support and resistance levels.
Rules:
If the price is under top line, you will be ready for short position, and over the bottom line, long position.
When the price passes the red and green area you can take action and enter the trade!
Orange area refers the squeezed or floating position, so you can either stop or wait for price action!
If you see boring candles frequently, check out the last high and low levels.
If the price close to the last high, take long position. If not, short position.
Use ALMA , if you want to put and alert on script. It is identical to price line.
Thanks to @millerrh for 'Breakout Trend Follower'. Just used the last low and high features to complete the script. Combined with 'Boring Candles' from ©Prasad Raut, Modified on 20190811 (Updated to %30 full candle)
Trend Tip: You can use the script with Linear Channel so you can also see the trend. (not always)
Raff Regression Channel by DGTRᴀꜰꜰ Rᴇɢʀᴇꜱꜱɪᴏɴ Cʜᴀɴɴᴇʟ (RRC)
This study aims to automate Raff Regression Channel drawing either based on ZigZag Indicator or optionally User Preference
The Raff Regression Channel , developed by Gilbert Raff, is based on a linear regression, which is the least-squares line-of-best-fit for a price series, with evenly spaced trend lines above and below . The width of the channel is set by determining the high or low that is the furthest from the linear regression.
Because the channel distance is based off the largest pullback or highest peak within a trend, for effectively drawing and using a Raff Regression Channel it is recommend/required that a Raff Regression Channel is applied to “mature” trends. Knowing this requirement, for better automated drawing results this study benefits from the Zig Zag Indicator, where the Zig Zag indicator is used to help identify price trends and changes in price trends. Option to manually adjust lengths for drawing a Raff Regression Channel is also made available.
Using a Raff Regression Channel
Once The Raff Regression Channel is drawn, covering an existing trend, Exᴛᴇɴꜱɪᴏɴ Lɪɴᴇꜱ are drawn to identify ᴛʜᴇ ꜱᴜᴘᴘᴏʀᴛ﹐ʀᴇꜱɪꜱᴛᴀɴᴄᴇ ᴏʀ ʀᴇᴠᴇʀꜱᴀʟ ᴘᴏɪɴᴛꜱ
The trend is up as long as prices rise within this channel. An uptrend may be reversing (not always, but likely) when price breaks below the channel extension . The trend is down as long as prices decline within the channel. Similarly, a downtrend may be reversing (not always, but likely) when price breaks above the channel extension . Moves outside the channel extensions can be indication of a reversal or can denote overbought or oversold conditions
For further details please refer to education post Raff Regression Channel
█ FEATURES
- AUTO or MANUALLY adjusted Raff Regression Channel and Channel Extentions drawing
- ALERTs, for Linear Regression Line, Raff Regression Upper and Lower Channel Extentions
- LSMA , Least Squares Moving Average, in other words Linear Regression Curve
█ SETTINGS
Setting Loopback and Number of Bars are the most important part for The Raff Regression Channel, where ;
- Lookback, defines where the Raff Regression Channel is starting, it is recommended to set to a trend begining
- Number of Bars, defines how many bars to be assumed for calculation, or simply stated the end of the Raff Regression Channel drawing (not extentions but the main channel, extentions by default will be drawn till the last bar)
Setting of Loopback and Number of Bars is performed eigher automatically based on Zig Zag indicator or users may prefer to set them manually. If selected automatically then
- Deviation and Depth values of Zig Zag indicator are used for calculations (enabling visually plotting of ZigZag Lines will help to identify better visually the points), where ;
Deviation, is a multiplier that affects how much the price should deviate from the previous pivot in order for the bar to become a new pivot.
Depth, affects the minimum number of bars that will be taken into account when building
Short-term traders may wish to apply the channel to small waves of a trend so they can reduce the value of the Deviation and Depth
█ OTHER CHANNEL CONSEPTS
Linear Regression Channels, , what linear regression channels are? and linear regression channel/curve/slope study
Fibonacci Channels, how to apply fibonacci channels and automated fibonacci channels study
Andrews’ Pitchfork, how to apply pitchfork and automated pitchfork study
Special Thanks to @Kiss66000 for his kind suggestion, je vous remercie beaucoup @Kiss66000
Disclaimer :
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
RSI Support & Resistance by DGTRSI Sᴜᴘᴘᴏʀᴛ & Rᴇꜱɪꜱᴛᴀɴᴄᴇ ʙʏ DGT
This experimental study attempts to translate Relative Strength Index (RSI) threshold levels of oversold/overbought and bull/bear zones as probable Price Support and Resistance levels
█ OPTIONS
Support & Resistance Levels , the main aim of the study. Level calculations are based on Relative Strength Index (RSI) threshold levels of oversold/overbought and bull/bear zones, where all threshold values are customizable through the user dialog box. Background of the levels can be colored optionally
RSI Weighted Colored Bars and/or Mark Overbought/Oversold Bars , Bar colors can be painted to better emphasis RSI values. Darker colors when the oscillator is in oversold/overbought zones, light colors when oscillator readings are below/above the bull/bear zone respectively, and remain unchanged otherwise. Besides the colors, with “Display RSI Overbought/Oversold Price Bars” option little triangle shapes can be plotted on top or bottom of the bars when RSI is in oversold/overbought zones
Example usage of the study with explanations
█ OTHERS
More regarding Support & Resistance concept (definition, identifying levels, trading S&R, etc) you are kindly invited to check my previous publication
Price Action - Support & Resistance by DGT
More regarding Relative Strength Index (RSI) and Relative Strength of Volume Indicators , please check Relative Strength of Volume Indicators by DGT
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
V2_Major_Trend_FinderThis script is a major trend following script. The calculations use Keltner Channels, moving averages and RSI.
The indicator is simple to follow:
Green Candlesticks indicate more bullish momentum expected
Red Candlesticks indicate more bearish momentum expected
blue dots are possible long ideas due to RSI oversold
Orange dots are possible short ideas due to RSI overbought
olive line is a one year moving average
The script is open for those looking for deeper understanding of the script.
Many Regards
Sulaiman
Matrix functions - JD/////////////////////////////////////////////////////////////////////////////////////////////////////////////////
// The arrays provided in Pinescript are linear 1D strucures that can be seen either as a large vertical stack or
// a horizontal row containing a list of values, colors, bools,..
//
// With the FUNCTIONS in this script the 1D ARRAY LIST can be CONVERTED INTO A 2D MATRIX form
//
//
///////////////////////////////////////////
/// BASIC INFO ON THE MATRIX STRUCTURE: ///
///////////////////////////////////////////
//
// The matrix is set up as an 2D structure and is devided in ROWS and COLUMNS.
// following the standard mathematical notation:
//
// a 3 x 4 matrix = 4 columns
// 0 1 2 3 column index
// 0
// 3 rows 1
// 2
// row
// index
//
// With the use of some purpose-built functions, values can be placed or retrieved in a specific column of a certain row
// this can be done by intuitively using row_nr and column_nr coördinates,
// without having to worry on what exact index of the Pine array this value is located (the functions do these conversions for you)
//
//
// the syntax I propose for the 2D Matrix array has the following structure:
//
// - the array starts with 2 VALUES describing the DIMENSION INFORMATION, (rows, columns)
// these are ignored in the actual calculations and serve as a metadata header (similar to the "location, time,... etc." data that is stored in photo files)
// so the array always carries it's own info about the nr. of rows and columns and doesn't need is seperate "info" file!
//
// To stay consistent with the standard Pinescript (array and ) indexing:
// - indexes for sheets and columns start from 0 (first) and run up to the (total nr of sheets or columns) - 1
// - indexes for rows also start from 0 (most recent, cfr. ) and run up to the (total nr of rows) - 1
//
// - this 2 value metadata header is followed by the actual df data
// the actual data array can consist of (100,000 - 2) usable items,
//
// In a theoretical example, you can have a matrix with almost 20,000 rows with each 5 columns of data (eg. open, high, low, close, volume) in it!!!
//
//
///////////////////////////////////
/// SCHEMATIC OF THE STRUCTURE: ///
///////////////////////////////////
//
////// (metadata header with dimensions info)
//
// (0) (1) (array index)
//
B3 Clear Method Streak CountAbout Clear Method -- to repeat my prior post on the bar painter script:
This indicator is translated out of Technical Analysis of Stocks & Commodities , September 2010, (I take zero design credit). The script simply looks for the price action to break or "clear" the most recent action, and only changes the paintbar color if the action indeed clears the previous candles. Simple to use, just add to your chart from your favorites and change the colors in the UI. It does the rest.
This version can replace my previous Clear Method Bar Painter as it also paints the bars.
What is different is this share is a lower study that counts the streak of the bars shown via histogram.
The way to use the streak is to notice the previous streaks and get a sense of how long the current trend is lasting versus prior trends of the same direction.
@Tradestation recently posted their "price streak" study, and this one is quite similar in nature.
Enjoy, the code open to view,
_B3
d^.^b
Open Interest:CME e-o-d vs CFTC e-o-wCFTC only publishes total OI on fridays, related to last Tuesday.
But what happened since last Tuesday?
CME Vol & Open Interest data is recorded&exported daily by quandl.com to tradingview
via the che CHRIS/CME datasets
www.quandl.com
Eg. Nat Gas next outstanding cntract n. 20, field n. 7(OI)
@quandl.com:
www.quandl.com
is exported @tradingview:
www.tradingview.com
Every outstanding contract's OI & vol is exported (black column), but not the total (yellow line):
tiny.cc
This script sums up all the existing outstanding contract's OI for the future (the black column), so one can have an idea of the total OI for the day (Yellow line).
As numer of outstanding contracts varies from future to future,Eg:
E-mini (ES) has 4 contracts, Gold(GC) 16 cntrcts, NatGas(NG) has 43, WTI(CL) has 38 etc
the scrips tries to guess how many exist for it and sums them up, to have the total OI for tha day
Number ofoutstanding contracts exported by quandl.com to tradingview is taken from
s3.amazonaws.com
There are 2 params you can enter on the script:
* override the ticket symbol on the chart ,if script cannot guessit or you need a different one
* enter the "preliminary" OI that is published by CME early the next day, butb not yet exported by quandl to tradingview
This script is Open so anyone can copy and modifyit for its use.
Please post comments and ideas if you find it useful
I try to keep a log of my work here:
[RESEARCH] Percentrank BugI found a bug with built-in percentrank function. Sometimes it gives unexpected and incorrect results. You can see a one of them on the chart.
ALL scripts which use percentrank function are affected. No matter which version they use, no matter who is their author - ALL scripts which use this built-in function can work incorrectly.
If you want to avoid this bug use _percentrank function (the "shim" ) - you can find it in the script.
NOTE: Don't push on TradingView Support or Pine Core Team because they already know about this issue and work on the fix. I publish it to warn you.
Relative Volume Change: BTC | Retail v. Non-Retail [Sim]This script was inspired by Cryptorae's BTC Volume Share, Retail script:
The script plots the relative monthly change of BTC volume, retail vs. non-retail. A move above 1 means the volume of retail or non-retail, respectively, is greater than last month's cumulative volume.
Mayer Multiple @ Current PriceThough this script is by me, the original idea comes from a podcast I heard where Trace Mayer talks about how he does crypto valuation. It is based on current price against the 200 day moving average. This indicator script will simply plot that value as a label overlayed on your trading view chart. Best long term results occur when acquiring BTC when the multiple is 2.4 or less. For more info, google "mayer multiple" This script/indicator is strictly for educational purposes. It is not exclusive to bitcoin.
To get the best look out of your charts I make the following changes.
1.Apply the indicator to your chart.
2. In the tools palette of trading view, when looking at a chart, click "Show Objects Tree" the icon displayed above the trash can.
In the objects tree panel, click the preferences icon for "Mayer Multiple @ Current Price"
Switch "scale" to "scale Left"
3. Then for your chart preferences (right click on chart background and select "Properties", and be sure the following are checked on the "Scales" tab
Left Axis
Right Axis
Indicator Last Value
Indicator Labels
Screenshots are not allowed in this view, so I can't post screenshots, but the view above is what it should look like when you are done.
For anyone who wants to see the code, here is the code of the script:
Use at will, and at your own risk.
//@version=3
// Created By Timothy Luce, inspired by Trace Mayer's 200 Day SMA cryptocurrency valuation method
study("Mayer Multiple @ Current Price", overlay=true)
currentPrice = close
currentDay = security(tickerid, "D", sma(close, 200))
mayerMultiple = currentPrice/currentDay
plot(mayerMultiple, color=#00ffaa, transp=100)
If you want to change the color, change this line: #00ffaa
RSI Oversold/Overbought StrategyExplanation of the Script:
Version Declaration and Strategy Initialization:
//@version=5 specifies that the script uses Pine Script version 5.
strategy("RSI Oversold/Overbought Strategy", overlay=true) initializes the strategy with the given name and overlays it on the price chart.
User Inputs:
rsiLength allows the user to set the RSI calculation period, defaulting to 14.
oversoldLevel and overboughtLevel let users define the oversold and overbought thresholds, defaulting to 30 and 70, respectively.
RSI Calculation:
rsiValue = ta.rsi(close, rsiLength) computes the RSI based on the closing prices and the specified period.
Trade Entry and Exit Conditions:
enterLong is set to true when the RSI crosses below the oversold level, indicating a potential buying opportunity.
exitLong becomes true when the RSI crosses above the overbought level, signaling an exit point.
Trade Execution:
When enterLong is true, strategy.entry("Long", strategy.long) opens a long position.
When exitLong is true, strategy.close("Long") closes the long position.
RSI Visualization:
plot(rsiValue, title="RSI", color=color.blue) displays the RSI line on a separate chart.
hline functions draw horizontal lines at the oversold and overbought levels for reference.
Important Considerations:
Backtesting: Before deploying this strategy in live trading, conduct thorough backtesting to evaluate its performance across different market conditions.
Risk Management: Incorporate appropriate risk management techniques, such as stop-loss and take-profit levels, to protect against adverse market movements.
Market Conditions: Be aware that the effectiveness of RSI-based strategies can vary with market volatility and trends. Adjust the oversold and overbought levels as needed to align with specific market dynamics.
By customizing the input parameters and thoroughly testing the strategy, you can tailor it to fit your trading preferences and the specific characteristics of the markets you are trading.
Volume-MACD-RSI Integrated StrategyDescription:
This script integrates three well-known technical analysis tools—Volume, MACD, and RSI—into a single signal meant to help traders identify potential turning points under strong market conditions.
Concept Overview:
Volume Filter: We compare the current bar’s volume to a 20-period volume average and require it to exceed a specified multiplier. This ensures that signals occur only during periods of heightened market participation. The logic is that moves on low volume are less reliable, so we wait for increased activity to confirm potential trend changes.
MACD Momentum Shift:
We incorporate MACD crossovers to determine when momentum is changing direction. MACD is a popular momentum indicator that identifies shifts in trend by comparing short-term and long-term EMAs. A bullish crossover (MACD line crossing above the signal line) may suggest upward momentum is building, while a bearish crossunder can indicate momentum turning downward.
RSI Market Condition Check:
RSI helps us identify overbought or oversold conditions. By requiring that RSI be oversold on buy signals and overbought on sell signals, we attempt to pinpoint entries where price could be at an extreme. The idea is to position entries or exits at junctures where price may be due for a reversal.
How the Script Works Together:
Volume Confirmation: No signals fire unless there’s strong volume. This reduces false positives.
MACD Momentum Check: Once volume confirms market interest, MACD crossover events serve as a trigger to initiate consideration of a trade signal.
RSI Condition: Finally, RSI determines whether the market is at an extreme. This final layer helps ensure we only act on signals that have both momentum shift and a price at an extreme level, potentially increasing the reliability of signals.
Intended Use:
This script can help highlight potential reversal points or trend shifts during active market periods.
Traders can use these signals as a starting point for deeper analysis. For instance, a “BUY” arrow may prompt a trader to investigate the market context, confirm with other methods, or look for patterns that further support a long entry.
The script is best used on markets with reliable volume data, such as stocks or futures, and can be experimented with across different timeframes. Adjusting the RSI thresholds, MACD parameters, and volume multiplier can help tailor it to specific instruments or trading styles.
Chart Setup:
When adding this script to your chart, it should be the only indicator present, so you can clearly see the red “BUY” arrows and green “SELL” arrows at the candle closes where signals occur.
The chart should be kept clean and uncluttered for clarity. No other indicators are necessary since the logic is already integrated into this single script.
MicuRobert EMA Cross StrategyThis is a repost of a old strategy that cant be updated anymore, it was a request for a user made in Oct, 6, 2015
Here's a possible engaging description for the tradingview script:
**MicuRobert EMA Cross V2: A Powerful Trading Strategy**
Join the ranks of successful traders with this advanced strategy, designed to help you profit from market trends. The MicuRobert EMA Cross V2 combines two essential indicators - Exponential Moving Average (EMA) and Divergence EMA (DEMA) - to generate buy and sell signals.
**Key Features:**
* **Trading Session Filter**: Only trade during your preferred session, ensuring you're in sync with market conditions.
* **Trailing Stop**: Automatically adjust stop-loss levels to lock in profits or limit losses.
* **Customizable Trade Size**: Set the size of each trade based on your risk tolerance and trading goals.
**How it Works:**
The script uses two EMAs (5-period and 34-period) to identify trends. When the shorter EMA crosses above the longer one, a buy signal is generated. Conversely, when the shorter EMA falls below the longer one, a sell signal is triggered. The strategy also incorporates divergence analysis between price action and the EMAs.
**Visual Aids:**
* **EMA Plots**: Visualize the two EMAs on your chart to gauge market momentum.
* **Buy/Sell Signals**: See when buy or sell signals are generated, along with their corresponding entry prices.
* **Trailing Stop Lines**: Monitor stop-loss levels as they adjust based on price action.
**Get Started:**
Download this script and start trading like a pro! With its robust features and customizable settings, the MicuRobert EMA Cross V2 is an excellent addition to any trader's arsenal.
~Llama3
[blackcat] L1 Extreme Shadows█ OVERVIEW
The Pine Script provided is an indicator designed to detect market volatility and extreme shadow conditions. It calculates various conditions based on simple moving averages (SMAs) and plots the results to help traders identify potential market extremes. The primary function of the script is to provide visual cues for extreme market conditions without generating explicit trading signals.
█ LOGICAL FRAMEWORK
Structure:
1 — Input Parameters:
• No user-defined input parameters are present in this script.
2 — Calculations:
• Calculate Extreme Shadow: Checks if the differences between certain SMAs and prices exceed predefined thresholds.
• Calculate Buy Extreme Shadow: Extends the logic by incorporating additional SMAs to identify stronger buy signals.
• Calculate Massive Bullish Sell: Detects massive bullish sell conditions using longer-term SMAs.
3 — Plotting:
• The script plots the calculated conditions using distinct colors to differentiate between various types of extreme shadows.
Data Flow:
• The close price is passed through each custom function.
• Each function computes its respective conditions based on specified SMAs and thresholds.
• The computed values are then summed and returned.
• Finally, the aggregated values are plotted on the chart using the plot function.
█ CUSTOM FUNCTIONS
1 — calculate_extreme_shadow(close)
• Purpose: Identify extreme shadow conditions based on 8-period and 14-period SMAs.
• Functionality: Computes the difference between the 8-period SMA and the close price, and the difference between the 14-period SMA and the 4-period SMA, relative to the 6-period SMA. Returns 2 if both conditions exceed 0.04; otherwise, returns 0.
• Parameters: close (price series)
• Return Value: Integer (0 or 2)
2 — calculate_buy_extreme_shadow(close)
• Purpose: Identify more robust buy signals by evaluating multiple SMAs.
• Functionality: Considers the 8-period SMA along with additional SMAs (21, 42, 63, 84, 105) and combines multiple conditions to provide a comprehensive buy signal.
• Parameters: close (price series)
• Return Value: Integer (sum of conditions, ranging from 0 to 14)
3 — calculate_massive_bullish_sell(close)
• Purpose: Detect massive bullish sell conditions using longer-term SMAs.
• Functionality: Evaluates conditions based on the 8-period SMA and longer-term SMAs (88, 44, 22, 11, 5), returning a sum of conditions meeting specified thresholds.
• Parameters: close (price series)
• Return Value: Integer (sum of conditions, ranging from 0 to 10)
█ KEY POINTS AND TECHNIQUES
• Advanced Pine Script Features:
• Multiple Nested Conditions: Uses nested conditions to assess complex market scenarios.
• Combination of Conditions: Combines multiple conditions to provide a more reliable signal.
• Optimization Techniques:
• Thresholds: Employs specific thresholds (0.04 and 0.03) to filter out noise and highlight significant market movements.
• SMA Comparisons: Compares multiple SMAs to identify trends and extreme conditions.
• Unique Approaches:
• Combining Multiple Time Frames: Incorporates multiple time frames to offer a holistic view of the market.
• Visual Distinction: Utilizes different colors and line widths to clearly differentiate between various extreme shadow conditions.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
• Potential Modifications:
• User-Defined Thresholds: Allow users to customize thresholds to align with personal trading strategies.
• Additional Indicators: Integrate other technical indicators like RSI or MACD to improve the detection of extreme market conditions.
• Entry and Exit Signals: Enhance the script to generate clear buy and sell signals based on identified extreme shadow conditions.
• Application Scenarios:
• Volatility Analysis: Analyze market volatility and pinpoint times of extreme price action.
• Trend Following: Pair with trend-following strategies to capitalize on significant market moves.
• Risk Management: Adjust position sizes or stop-loss levels based on detected extreme conditions.
• Related Pine Script Concepts:
• Custom Functions: Demonstrates how to create reusable functions for simplified and organized code.
• Plotting Techniques: Shows effective ways to visualize data using color and styling options.
• Multiple Time Frame Analysis: Highlights the benefits of analyzing multiple time frames for a broader market understanding.
Coinbase Premium HeatmapCoinbase Premium Heatmap visualizes spot bitcoin premium (or discount) on Coinbase, relative to other spot markets, visualized as a heatmap overlay.
OPTIMIZED FOR CLARITY
Coinbase Premium can whipsaw quickly, with dramatic state changes over relatively brief periods, unnecessarily complicating its use (for our purposes).
To mitigate whipsaws, the script (a) averages premium/discount on an hourly basis, and (b) introduces lightweight exponential smoothing, to further simplify/clarify state.
WHY IT MATTERS
Spot Coinbase premium is a strong proxy for bullish institutional sentiment and net inflows/accumulation by western financial institutions, ETF providers, and corporations (like MicroStrategy) adding bitcoin to their treasury.
In aggregate, this holder cohort drives trend & sentiment more than any other, so it's important to know their directional bias.
HOW IT'S CALCULATED
Premium / discount calculates the spread between Coinbase spot BTC price, and spot price on Binance + Bybit. Calculation is averaged hourly, with light exponential smoothing.
HOW WE USE THE SCRIPT
When assessing optimal moments to hedge exposure (or sell spot assets) near a presumed impending cycle top, awareness of institutional sentiment is a crucial variable. This script:
(a) Filters out unnecessarily early cycle exit signals (if Coinbase premium is still present)
(b) Confirms other metrics that indicate an impending cycle top (if the neutral to bearish institutional sentiment we'd expect to see is in effect), and
(c) Visualizes state changes (from bearish to bullish & vice versa), that often make for good swing entries & exits on lower timeframes.
STRATEGY Fibonacci Levels with High/Low Criteria - AYNET
Here is an explanation of the Fibonacci Levels Strategy with High/Low Criteria script:
Overview
This strategy combines Fibonacci retracement levels with high/low criteria to generate buy and sell signals based on price crossing specific thresholds. It utilizes higher timeframe (HTF) candlesticks and user-defined lookback periods for high/low levels.
Key Features
Higher Timeframe Integration:
The script calculates the open, high, low, and close values of the higher timeframe (HTF) candlestick.
Users can choose to calculate levels based on the current or the last HTF candle.
Fibonacci Levels:
Fibonacci retracement levels are dynamically calculated based on the HTF candlestick's range (high - low).
Users can customize the levels (0.000, 0.236, 0.382, 0.500, 0.618, 0.786, 1.000).
High/Low Lookback Criteria:
The script evaluates the highest high and lowest low over user-defined lookback periods.
These levels are plotted on the chart for visual reference.
Trade Signals:
Long Signal: Triggered when the close price crosses above both:
The lowest price criteria (lookback period).
The Fibonacci level 3 (default: 0.5).
Short Signal: Triggered when the close price crosses below both:
The highest price criteria (lookback period).
The Fibonacci level 3 (default: 0.5).
Visualization:
Plots Fibonacci levels and high/low criteria on the chart for easy interpretation.
Inputs
Higher Timeframe:
Users can select the timeframe (default: Daily) for the HTF candlestick.
Option to calculate based on the current or last HTF candle.
Lookback Periods:
lowestLookback: Number of bars for the lowest low calculation (default: 20).
highestLookback: Number of bars for the highest high calculation (default: 10).
Fibonacci Levels:
Fully customizable Fibonacci levels ranging from 0.000 to 1.000.
Visualization
Fibonacci Levels:
Plots six customizable Fibonacci levels with distinct colors and transparency.
High/Low Criteria:
Plots the highest and lowest levels based on the lookback periods as reference lines.
Trading Logic
Long Condition:
Price must close above:
The lowest price criteria (lowcriteria).
The Fibonacci level 3 (50% retracement).
Short Condition:
Price must close below:
The highest price criteria (highcriteria).
The Fibonacci level 3 (50% retracement).
Use Case
Trend Reversal Strategy:
Combines Fibonacci retracement with recent high/low criteria to identify potential reversal or breakout points.
Custom Timeframe Analysis:
Incorporates higher timeframe data for multi-timeframe trading strategies.
Last Freemans Ver1This script is a technical indicator for TradingView that combines three popular tools for analyzing price movements:
Relative Strength Index (RSI): This measures the momentum of recent price changes and indicates potential overbought or oversold conditions. The script allows you to adjust the RSI length (default 14) and define overbought (default 70) and oversold (default 30) levels.
Moving Average Convergence Divergence (MACD): This indicator helps identify trend direction and potential turning points. It uses two moving averages (fast and slow) and a signal line. The script lets you customize the lengths of the MACD lines (fast: 12, slow: 26, signal: 9).
Exponential Moving Average (EMA): This is a smoothing indicator used to identify the underlying trend by filtering out price noise. You can adjust the EMA length (default 200) in the script.
Additionally, the script generates Buy/Sell signals based on the following conditions:
Buy Signal:
MACD line crosses above the signal line (indicating a potential uptrend).
RSI is below the oversold level (suggesting room for price increase).
Closing price is below the EMA (potentially indicating a price pullback before an upswing).
Sell Signal:
MACD line crosses below the signal line (indicating a potential downtrend).
RSI is above the overbought level (suggesting potential for a price decrease).
Closing price is above the EMA (potentially indicating a price breakout before a decline).
Visualization:
The script plots the following on the chart:
RSI line (blue) with overbought and oversold levels as dashed lines (red and green, respectively).
MACD line (red) and signal line (blue).
EMA line (orange).
Green triangle up (below the bar) for Buy signals.
Red triangle down (above the bar) for Sell signals.
Important Note:
This script provides trading signals based on technical indicators, but keep in mind that these are not guaranteed predictions of future price movements. Always conduct your own research and consider other factors before making trading decisions.
Rounded Grid Levels🟩 Rounded Grid Levels is a visual tool that helps traders quickly identify key psychological price levels on any chart. By dynamically adapting to the user's visible screen area, it provides consistent, easy-to-read round number grids that align with price action. The indicator offers a traditional visualization of horizontal round level grids, along with enhanced options such as tilted grids that align with market sentiment, and fan-shaped grids for alternative price interaction views. It serves purely as a visual aid, providing an adaptable way to observe rounded price levels without making predictions or generating trading signals.
⚡ OVERVIEW ⚡
The Rounded Grid Levels indicator is a visual tool designed to help traders identify and track price levels that may hold psychological significance, such as round numbers or significant milestones. These levels often serve as potential areas for price reactions, including support, resistance, or points of market interest. The indicator's gridlines are determined by user-defined settings and adjust dynamically based on the visible chart area, meaning they are influenced by the user's current zoom level and perspective. This behavior is similar to TradingView's built-in grid lines found in the chart settings canvas, which also adjust in real-time based on the visible screen, ensuring the most relevant price levels are displayed. By default, the indicator provides consistent gridlines to represent traditional round number levels, offering a straightforward view of key psychological areas. Additionally, users have access to experimental and novel configurations, such as fan-shaped layouts, which expand from a central point and adapt directionally based on user settings. This configuration can provide an alternate perspective for traders, especially useful in analyzing broader market moves and visualizing expansion relative to the current price.
Users can display the gridlines in a variety of configurations, including horizontal, neutral, auto, or fan-shaped layouts, depending on their preferred method of analysis. This flexibility allows traders to focus on different types of price action without overcrowding the visual representation of price movements.
This indicator is intended purely as a visual aid for understanding how price interacts with rounded levels over time. It does not generate predictive trading signals or recommendations but rather provides traders with a customizable framework to enhance their market analysis.
⭕ ROUND NUMBERS IN MARKET PSYCHOLOGY ⭕
Round numbers hold a significant place in financial markets, largely due to the psychological tendencies of traders and investors. These levels often represent areas of interest where human behavior, market biases, and trading strategies converge. Whether it's prices ending in 000, 500, or other recognizable values, these levels naturally attract more attention and influence decision-making.
Round numbers can act as key support or resistance levels and often become focal points in market activity. They are frequently highlighted by financial media, embedded in products like options, and serve as foundations for various trading theories. Their impact extends across different market participants and strategies, making them important focal points in both short-term and long-term market analysis.
Round numbers play an important role in guiding trader behavior and market activity. To better understand why these levels are so impactful, there are several key factors that highlight their significance in trading and price dynamics:
Psychological Impact : Humans naturally gravitate toward round numbers, such as prices ending in 000, 500, or 00. These levels tend to draw attention as traders perceive them as psychologically significant. This behavior is rooted in the cognitive bias known as "left-digit bias," where people assign greater importance to rounded, more recognizable numbers. In trading, this means that prices at these levels are more memorable and thus more likely to attract attention, creating an area where traders focus their buying or selling decisions.
Order Clustering : Traders often place buy and sell orders around these rounded levels, either manually or automatically through stop and limit orders. This clustering leads to the formation of visible support or resistance zones, as the concentrated orders tend to influence price behavior around these key levels. Market participants tend to converge their orders around these price points because of their perceived psychological importance, creating a liquidity pocket. As a result, these areas often act as barriers that the price either struggles to cross or uses as springboards for further movement.
External Influences : Financial media frequently highlights round-number milestones, amplifying market sentiment and drawing traders' attention to these levels. Additionally, algorithmic trading systems often react to round-number thresholds, which can further reinforce price movements, creating self-reinforcing reactions at these levels. As media and analysts emphasize these milestones, more traders pay attention to them, leading to increased volume and often heightened volatility at those points. This self-reinforcing cycle makes round numbers an area where price movement can either accelerate due to a breakout or stall because of clustering interest.
Option Strike Prices : Options contracts typically have strike prices set at round numbers, and as expiration approaches, these levels can influence the price of the underlying asset due to concentrated trading activity. The behavior around these levels, often called "pinning," happens because traders adjust their positions to avoid unfavorable scenarios at these key strikes. This activity tends to concentrate price movement toward these levels as traders hedge their positions, leading to increased liquidity and the potential for abrupt price reactions near option expiration dates.
Whole Number Theory : This theory suggests that whole numbers act as natural psychological barriers, where traders tend to make decisions, place orders, or expect price reactions, making these levels crucial for analysis. Whole numbers are simple to remember and are often used as informal targets for profit-taking or stop placement. This behavior leads to a natural ebb and flow around these levels, where the market finds equilibrium temporarily before deciding on a future direction. Whole numbers tend to work like magnets, drawing price to them and often creating reactions that are visible across different timeframes.
Quarters Theory : Commonly used in Forex markets, this theory focuses on quarter-point increments (e.g., 1.0000, 1.2500, 1.5000) as key levels where price often pauses or reverses. These quarter levels are treated as important psychological barriers, with price frequently interacting at these intervals. Traders use these points to gauge market strength or weakness because quarter levels divide larger round-number ranges into more manageable and meaningful segments. For example, in highly traded forex pairs like EUR/USD, traders might treat 1.2500 as a significant barrier because it represents a halfway point between 1.0000 and 1.5000, offering a balanced reference point for decision-making.
Big Round Numbers : Major round numbers, such as 100, 500, or 1000, often attract significant attention and serve as psychological thresholds. Traders anticipate strong reactions when prices approach or cross these levels. This is often because large round numbers symbolize major milestones, and price behavior around them tends to signal important market sentiment shifts. When price crosses a major level, such as a stock moving above $100 or Bitcoin crossing $50,000, it often creates a surge in trading activity as it is viewed as a validation or invalidation of market trends, drawing in momentum traders and triggering both retail and institutional responses.
By visualizing these round levels on the chart, the Rounded Grid Levels indicator helps traders identify areas where price may pause, reverse, or gain momentum. While round numbers provide useful insights, they should be used in conjunction with other technical analysis tools for a comprehensive trading strategy.
🛠️ CONFIGURATION AND SETTINGS 🛠️
The Rounded Grid Levels indicator offers a variety of configurable settings to tailor the visualization according to individual trader preferences. Below are the key settings available for customization:
Custom Settings
Rounding Step : The Rounding Step parameter sets the minimum interval between gridlines. This value determines how closely spaced the rounded levels are on the chart. For example, if the Rounding Step is set to 100, gridlines will be displayed at every 100 points (e.g., $100, $200, $300) relative to the current price level. The Rounding Step is scaled to the chart's visible area, meaning users should adjust it appropriately for different assets to ensure effective visualization. Lower values provide a more granular view, while larger values give a broader, higher-level perspective.
Major Grids : Defines the interval at which major gridlines will appear compared to minor ones. For example, if the Rounding Step is 100 and Major Grids is set to 10, major gridlines will be displayed every $1,000, while minor gridlines will be at every $100. This distinction allows traders to better visualize key psychological levels by emphasizing significant price intervals.
Direction : Users can select the gridline direction, choosing between options such as 'Up', 'Down', 'Auto', or 'Neutral'. This setting controls how the gridlines extend relative to the current price level, which can help in analyzing directional trends.
Neutral Direction : This option provides balanced gridlines both above and below the current price, allowing traders to visualize support and resistance levels symmetrically. This is useful for analyzing sideways or ranging markets without directional bias.
Up Direction : The gridlines are tilted upwards, starting from visible lows and extending toward the rounded level at the current price. By choosing Up , traders emphasize an upward sentiment, visualizing price action that aligns with rising trends. This option helps illustrate potential areas where pullbacks may occur, as well as how price might expand upwards in the current market context.
Down Direction : The gridlines are tilted downwards, starting from visible highs and extending toward the rounded level at the current price. Selecting Down allows traders to emphasize a downward sentiment, visualizing how price may expand downwards, which is particularly useful when analyzing downtrends or potential correction levels. The gridlines provide an illustrative view of how price interacts with lower levels during market declines.
Auto Direction : The gridlines automatically adjust their direction based on recent market trends. This adaptive option allows traders to visualize gridlines that dynamically change according to price action, making it suitable for evolving market conditions where the direction is uncertain. It’s useful for traders looking for an indicator that moves in sync with market shifts and doesn’t require manual adjustment.
Grid Type : Allows users to choose between 'Linear' or 'Fan' grid types. The Linear type creates evenly spaced gridlines that can be either horizontal or tilted, depending on the chosen direction setting, providing a straightforward view of price levels. The Fan type radiates lines from a central point, offering a more dynamic perspective for analyzing price expansions relative to the current price. These grid types introduce experimental visualizations influenced by chart properties, including visible highs, lows, and the current price. Regardless of the configuration, the gridlines will always end at the current bar, which represents a rounded price level, ensuring consistency in how key price areas are displayed.
Extend : This setting allows gridlines to be projected into the future, helping traders see potential levels beyond the current bar. When enabled, the behavior of the extended lines varies based on the selected grid type and direction. For Neutral and Horizontal Linear settings, the extended gridlines maintain their round-number alignment indefinitely. However, for Up , Down , or Auto directions, the angle of the extended gridlines can change dynamically based on the chart’s visible high and low or the latest price action. As a result, extended lines may not continue to align with round-number levels beyond the current bar, reflecting instead the current trend and sentiment of the market. Regardless of direction, extended gridlines remain consistently spaced and either parallel or evenly distributed, ensuring a structured visual representation.
Color Settings : Users can customize the colors for resistance, support, and minor gridlines at the current price. This helps in visually distinguishing between different grid types and their significance on the chart.
Color Options
These configuration options make the Rounded Grid Levels indicator a versatile tool for traders looking to customize their charts based on their personal trading strategies and analytical preferences.
🖼️ CHART EXAMPLES 🖼️
The following chart examples illustrate different configurations available in the Rounded Grid Levels indicator. These examples show how variations in grid type, direction, and rounding step settings impact the visualization of price levels. Traders may find that smaller rounding steps are more effective on lower time frames, where precision is key, whereas larger rounding steps help to reduce clutter and highlight key levels on higher time frames. Each image includes a caption to explain the specific configuration used, helping users better understand how to apply these settings in different market conditions.
Smaller Rounding Step (100) : With a smaller rounding step, the gridlines are spaced closely together. This setting is particularly useful for lower time frames where price action is more granular and finer details are needed. It allows traders to track price interactions at narrower levels, but on higher time frames, it may lead to clutter and exceed Pine Script's 500-line limit.
Larger Rounding Step (1000) : With a larger rounding step, the gridlines are spaced farther apart. This visualization is better suited for higher time frames or broader market overviews, allowing users to focus on major psychological levels without overloading the chart. On lower time frames, this may result in fewer actionable levels, but it helps in maintaining clarity and staying within Pine Script's line limit.
Linear Grid Type, Neutral Direction (Traditional Rounded Price Levels) : The Linear gridlines are displayed in a neutral fashion, representing traditional round-number levels with consistent spacing above and below the current price. This layout helps visualize key psychological price levels over time in a straightforward manner.
Linear Grid Type, Down Direction : The Linear gridlines are tilted downwards, remaining parallel and ending at the rounded level at the current price. This setup emphasizes downward market sentiment, allowing traders to visualize price expansion towards lower levels, which is useful when analyzing downtrends or potential correction levels.
Linear Grid Type, Down Direction : The Linear gridlines are tilted downwards, extending from the current price to lower levels. Useful for observing downtrending price movements and visualizing pullback areas during uptrends.
Linear Grid Type, Auto Direction : The Linear gridlines adjust dynamically, tilting either upwards or downwards to align with recent price trends, remaining parallel and ending at the rounded level at the current price. This configuration reflects the current market sentiment and offers traders a flexible way to observe price dynamics as they develop in real time.
Fan Grid Type, Neutral Direction : The fan-shaped gridlines radiate symmetrically from a central point, ending at the rounded level at the current price. This configuration provides an unbiased view of price action, giving traders a balanced visualization of rounded levels without directional influence.
Fan Grid Type, Up Direction : The fan-shaped gridlines originate from lower visible price points and radiate upwards, ending at the rounded level at the current price. This layout helps visualize potential price expansion to higher levels, offering insights into upward momentum while maintaining a dynamic and evolving perspective on market conditions.
Fan Grid Type, Down Direction : The fan-shaped gridlines originate from higher visible price points and radiate downwards, ending at the rounded level at the current price. This setup is particularly useful for observing potential price expansion towards lower levels, illustrating areas where the price might extend during a downtrend.
Fan Grid Type, Auto Direction : The fan-shaped gridlines dynamically adjust, originating from visible chart points based on the current market trend, and radiate outward, ending at the rounded level at the current price. This adaptive visualization offers a continuously evolving representation that aligns with changing market sentiment, helping traders assess price expansion dynamically.
📊 SUMMARY 📊
The Rounded Grid Levels indicator helps traders highlight important round-number price levels on their charts, providing a dynamic way to visualize these psychological areas. With customizable gridline options—including traditional, tilted, and fan-shaped styles—users can adapt the indicator to suit their analysis needs. The gridlines adjust with chart zoom or scale, offering a flexible tool for observing price action, without providing specific trading signals or predictions.
⚙️ COMPATIBILITY AND LIMITATIONS ⚙️
Asset Compatibility :
The Rounded Grid Levels indicator is compatible with all asset classes, including cryptocurrencies, forex, stocks, and commodities. Users should adjust both the Rounding Step and the Major Grid settings to ensure the correct scale is used for the specific asset. This adjustment ensures that the most relevant round price levels are displayed effectively regardless of the instrument being analyzed. For instance, when analyzing BTCUSD, a higher Rounding Step may be needed compared to forex pairs like EURUSD, and the Major Grid value should also be adjusted to appropriately emphasize significant levels.
Line Limitations in Pine Script :
The Rounded Grid Levels indicator is subject to Pine Script's 500-line limit. This means that it cannot draw more than 500 gridlines on the chart at any given time. The number of gridlines depends directly on the chosen Rounding Step . If the steps are too small, the gridlines will be spaced too closely, causing the indicator to quickly reach the line limit. For example, if Ethereum is trading around $2,500, a Rounding Step of 100 might be appropriate, but a step of 1.00 would create too many gridlines, exceeding Pine Script's limit. Users should consider appropriate settings to avoid running into this constraint.
Runtime Error Considerations
When using the Rounded Grid Levels indicator, users might encounter a runtime error in specific scenarios. This typically happens if the Rounding Step is set too small, causing the indicator to exceed Pine Script's line limit or take too long to process. This can often occur when switching between charts that have significantly different price ranges. Since the Rounding Step requires flexibility to work with a wide variety of assets—ranging from decimals to thousands—it is not practically limited within the script itself. If a runtime error occurs, the recommended solution is to increase the Rounding Step to a larger value that better matches the current asset's price range.
Runtime Error: If the Rounding Step is too small for the current asset or chart, the indicator may generate a runtime error. Users should increase the Rounding Step to ensure proper visualization.
⚠️ DISCLAIMER ⚠️
The Rounded Grid Levels indicator is not designed as a predictive tool. While it extends gridlines into the future, this extension is purely for visual continuity and does not imply any forecast of future price movements. The primary function of this indicator is to help users visualize significant round number price levels.
The gridlines adjust dynamically based on the visible chart range, ensuring that the most relevant round price levels are displayed. This behavior allows the indicator to adapt to your current view of the market, but it should not be used to predict price movements. The indicator is intended as a visual aid and should be used alongside other tools in a comprehensive market analysis approach.
While gridlines may align with significant price levels in hindsight, they should not be interpreted as indicators of future price movements. Traders are encouraged to adjust settings based on their strategy and market conditions.
🧠 BEYOND THE CODE 🧠
The Rounded Grid Levels indicator, like other xxattaxx indicators , is designed with education and community collaboration in mind. Its open-source nature encourages exploration, experimentation, and the development of new grid calculation indicators, drawings, and strategies. We hope this indicator serves as a framework and a starting point for future innovations in grid trading.
Your comments, suggestions, and discussions are invaluable in shaping the future of this project. We actively encourage your feedback and contributions, which will directly help us refine and improve the Rounded Grid Levels indicator. We look forward to seeing the creative ways in which you use and enhance this tool.
Options Series - Supertrend, HalfTrend, Ichimoku Cloud and P_SAR➤ Supertrend:
➤ HalfTrend:
➤ Ichimoku Cloud:
➤ Parabolic SAR:
⭐ Overview and How It Works:
This script combines multiple popular technical indicators—Supertrend, HalfTrend, Ichimoku Cloud, and Parabolic SAR—into a single, cohesive tool for analyzing price trends and reversals. Designed for traders who prefer multi-layered confirmation, it displays non-overlay signals in a candlestick format, helping users make sense of intricate market dynamics. It also includes a "Master Candle" condition, which aggregates the signals from all indicators, providing a powerful snapshot of market sentiment.
References for study,
Supertrend and HalfTrend and Ichimoku Cloud and Parabolic SAR
⭐ Key Features and Functionality:
The script integrates four indicators and visually represents them in a non-overlay fashion, meaning that each indicator's signal appears on separate candlestick layers. It uses color coding to differentiate between bullish and bearish signals. The Master Candle is a unique feature that aggregates the signals from all indicators to show the overall sentiment.
Supertrend: It uses ATR and a multiplier factor to create a trailing stop, identifying bullish and bearish trends.
HalfTrend: It analyzes market volatility that provides buy and sell signals based on volatility channels and historical highs and lows.
Ichimoku Cloud: It leverages historical highs and lows to form the conversion and baseline, which are compared to assess market strength.
Parabolic SAR: A stop-and-reverse system that highlights potential reversals. It is based on time and price, offering traders potential reversal points.
Master Candle: It computes a score based on the confluence of all four indicators, adding another layer of confirmation.
🎨 Visualizations and User Experience:
The script's user interface is highly visual, with color-coded candlesticks plotted across multiple layers. Each indicator has its own color coding for bullish and bearish signals, ensuring clarity:
➤ Green for bullish signals.
➤ Red for bearish signals.
➤ Each candlestick layer represents a different indicator (e.g., Supertrend, HalfTrend, etc.), making it easy for the trader to isolate and interpret signals.
➤ The "Master Candle" provides an overarching view of the market by displaying a consolidated signal, which can reduce confusion from mixed indicator signals.
⭐ Settings and Customization:
The script is highly customizable, allowing users to adjust the settings for each indicator. Key customizable parameters include:
• Supertrend ATR Period and Factor
• HalfTrend Amplitude and Channel Deviation
• Ichimoku Conversion, Base, and Lagging Span Periods
• Parabolic SAR Start, Increment, and Maximum value
Additionally, users can toggle the visibility of each indicator and customize the look of the plot to suit their preferences.
⭐ Uniqueness of the Concept:
No repaints. This is the advanced representation and the combination of multiple indicators into a single script, along with a powerful "Master Candle" that aggregates them, makes this tool unique. Most scripts provide isolated indicator signals, while this one brings together four powerful indicators and visually simplifies the analysis. The non-overlay style and color-coded candlesticks offer traders an easy-to-understand, actionable visual cue, which stands out from traditional indicator overlays.
🚀 Conclusion:
This script is a comprehensive, multi-indicator trading tool suitable for traders looking for reliable trend-following and reversal detection. Its ability to provide an aggregated "Master Candle" signal reduces noise and aids in better decision-making. Customization options allow users to tailor it to their trading style, while its clear visualizations provide an excellent user experience.
Three Bar Reversal Pattern [LuxAlgo]The Three Bar Reversal Pattern indicator identifies and highlights three bar reversal patterns on the user price chart.
The script also provides an option for incorporating various trend indicators used to filter out detected signals, allowing them to enhance their accuracy and help obtain a more comprehensive analysis.
🔶 USAGE
The script automates the detection of three-bar reversal patterns and provides a clear, visually identifiable signal for potential trend reversals.
When a reversal chart pattern is confirmed and price action aligns with the pattern, the pattern's boundaries are extended, forming levels, with the upper boundary often acting as a resistance and the lower boundary as a support.
The script allows users to filter patterns based on a specific trend direction detected by multiple trend indicators. Users can choose to view patterns that are either aligned with the detected trend or opposite to it.
Included trend indicators are: Moving Average Cloud, Supertrend, and Donchian Channels.
🔶 DETAILS
The three-bar reversal pattern is a technical analysis pattern that signals a potential reversal in the prevailing trend. The pattern consists of three consecutive bar formations:
First Bar and Second Bar: 2 consecutive of the same sentiment, representing the prevailing trend in the market.
Third Bar: Confirms the reversal by closing beyond the high or low of the first bar, signaling a potential change in market sentiment.
Various types of three-bar reversal patterns are documented. The script supports two main types:
Normal Pattern: Detects three-bar reversal patterns without requiring the third bar closing price to surpass the high (bullish pattern) or low (bearish pattern) of the first bar. It identifies basic formations signaling potential trend reversals.
Enhanced Pattern: Specifically identifies three-bar reversal patterns where the third bar closing price surpasses the high (bullish pattern) or low (bearish pattern) of the first bar. This type provides a more selective signal for stronger trend reversals.
🔶 SETTINGS
Pattern Type: Users can choose the type of 3-bar reversal patterns to detect: Normal, Enhanced, or All. "Normal" detects patterns that do not necessarily surpass the high/low of the first bar. "Enhanced" detects patterns where the third bar surpasses the high/low of the first bar. "All" detects both Normal and Enhanced patterns.
Derived Support and Resistance: Toggles the visibility of the support and resistance levels/zones.
🔹 Trend Filtering
Filtering: Allows users to filter patterns based on the trend indicators: Moving Average Cloud, Supertrend, and Donchian Channels. The "Aligned" option only detects patterns that align with the trend and conversely, the "Opposite" option detects patterns that go against the trend.
🔹 Trend Indicator Settings
Moving Average Cloud: Allows traders to choose the type of moving averages (SMA, EMA, HMA, etc.) and set the lengths for fast and slow-moving averages.
Supertrend: Options to set the ATR length and factor for Supertrend.
Donchian Channels: Option to set the length for the channel calculation.
🔶 RELATED SCRIPTS
Reversal-Candlestick-Structure .
Reversal-Signals .
