EMA ZONE MASTER [By TraderMan]🟢 EMA Zone Master Indicator Explanation 🚀
🌟 What is the EMA Zone Master?
The EMA Zone Master is a powerful TradingView Pine Script indicator designed to help traders identify trends, entry points, and manage trades with precision. It leverages a 200-period EMA (Exponential Moving Average) to create a dynamic zone for spotting bullish 📈 and bearish 📉 trends. The indicator provides clear buy/sell signals, take-profit (TP) levels, and stop-loss (SL) levels, making it ideal for both novice and experienced traders! 💪
🔍 How Does It Work?
The indicator uses the 200-period EMA as its core, surrounded by a zone defined by a percentage offset (default 0.3%). Here's how it operates:
Trend Detection 🧠:
The price's position relative to the EMA zone determines the trend:
Above the zone (with tolerance and minimum distance) signals a bullish trend (BUY 📈).
Below the zone signals a bearish trend (SELL 📉).
A neutral trend occurs when the price is within the zone or lacks momentum.
A trend is confirmed after a set number of bars (default 3) to filter out noise. 🔎
Trade Signals 🚦:
Buy Signal: Triggered when the price breaks above the EMA zone with confirmation.
Sell Signal: Triggered when the price breaks below the EMA zone with confirmation.
Signals are visualized with labels ("BUY" or "SELL") on the chart for clarity. ✅
Position Management 🎯:
Entry Price: Set at the closing price when a signal is triggered.
Take-Profit Levels: Three TP levels (TP1, TP2, TP3) are calculated based on a Risk/Reward Ratio (default 0.7).
Stop-Loss: Calculated using the ATR (Average True Range) with a multiplier (default 6.0) for volatility-based protection. 🛡️
Lines and labels for entry, TP, and SL are drawn on the chart for easy tracking.
Trend Strength 💪:
The indicator calculates trend strength (0-100%) and categorizes it as Very Strong, Strong, Moderate, Weak, or Very Weak. This helps gauge the reliability of the trend. 🌡
Analysis Comment 📝:
A dynamic comment provides professional insights based on trend strength, guiding traders on whether to act or wait. 🧑💼
Visuals & Alerts 🔔:
The EMA, zone boundaries, and candlestick colors change based on the trend (green for bullish, red for bearish, gray for neutral).
A table in the top-right corner summarizes key data: trend direction, strength, entry price, TP/SL levels, and success rate.
Alerts are generated with detailed trade information when a new signal appears.
🛠 How to Use It?
Setup on TradingView ⚙️:
Add the EMA Zone Master to your chart via the TradingView Pine Script editor.
Customize settings like EMA Length (default 200), Zone Width (0.3%), ATR Period (50), and Risk/Reward Ratio (0.7) to suit your trading style. 🛠
Interpreting Signals 📊:
Buy Signal (AL): Look for a "BUY" label and green candlesticks when the price breaks above the EMA zone. 📈
Sell Signal (SAT): Look for a "SELL" label and red candlesticks when the price breaks below the EMA zone. 📉
Check the table for trend strength and analysis comments to confirm the signal's reliability.
Opening a Position 💸:
Long Position: Enter a buy trade when a "BUY" signal appears. Set your take-profit at TP1, TP2, or TP3 and stop-loss at the SL level shown on the chart.
Short Position: Enter a sell trade when a "SELL" signal appears. Use the TP and SL levels provided.
The indicator automatically plots these levels as lines and labels for easy reference. 🎯
Managing Trades 🕒:
Monitor the trade's progress via the table and labels.
The indicator tracks if TP1, TP2, or TP3 is hit or if the trade stops out, updating the Last Result in the table (e.g., "✅ TP1 SUCCESS" or "❌ STOPPED OUT").
Use the Success Rate (displayed in the table) to gauge historical performance (75% for BUY, 65% for SELL, 50% for NEUTRAL).
Using Alerts 🔔:
Set up alerts in TradingView to receive notifications when a buy or sell signal is triggered.
The alert message includes the trend, strength, entry price, TP/SL levels, success rate, and analysis comment for quick decision-making.
📈 How to Open a Position?
Wait for a Signal: Ensure a "BUY" or "SELL" label appears, and the trend strength is at least Moderate (40%+) for higher confidence. ✅
Check the Table: Review the trend direction, strength, and analysis comment to confirm the trade setup. 📊
Enter the Trade:
For a Buy: Enter at the entry price shown, set TP1/TP2/TP3 and SL as indicated by the lines/labels.
For a Sell: Same process, but for a short position.
Monitor: Watch for TP or SL hits. The indicator will update the table with the result (e.g., "✅ TP3 SUCCESS"). 🕒
Risk Management: Always adhere to the stop-loss level to limit losses, and consider partial profit-taking at TP1 or TP2 for safer trading. 🛡️
🎉 Why Use EMA Zone Master?
Clear Signals: Easy-to-read buy/sell signals with visual cues. 🚦
Automated Levels: Pre-calculated TP and SL levels save time and reduce errors. 🧮
Trend Strength Insight: Helps avoid weak trends and focus on high-probability setups. 💪
Professional Analysis: Dynamic comments guide your trading decisions. 🧑💼
Customizable: Adjust settings to match your trading style or market conditions. ⚙️
Alert System: Stay informed with detailed alerts for timely action. 🔔
⚠️ Tips for Success
Confirm with Other Tools: Use additional indicators (e.g., RSI, MACD) to validate signals. 🔍
Test First: Backtest the indicator on your preferred market/timeframe to understand its performance. 📉
Risk Management: Always use proper position sizing and respect stop-loss levels. 🛑
Higher Timeframes: The indicator works best on higher timeframes (e.g.,15MİN, 1H, 4H, Daily) for stronger signals. ⏰
Happy trading with EMA Zone Master! 🚀 Let it guide you to smarter, more confident trades. 💰 Feel free to tweak settings and share your results! 😊
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Apex Edge - RSI Trend LinesThe Apex Edge - RSI Trend Lines indicator is a precision tool that automatically draws real-time trendlines on the RSI oscillator using confirmed pivot highs and lows. These dynamic trendlines track RSI structure in motion, helping you anticipate breakout zones, reversals, and hidden divergences.
Every time a new pivot forms, the indicator automatically re-draws the RSI trendline between the two most recent pivots — giving you an always-current view of momentum structure. You’ll instantly see when RSI begins compressing or expanding, long before price reacts.
Key Features: • Dynamic RSI trendlines drawn from the last 2 pivots
• Auto re-draws in real-time as new pivots form
• Optional "Full Extend" or "Pivot Only" modes
• Slope color-coded: green = support, red = resistance
• Built-in dotted RSI levels (30/70 default)
• Alert conditions for RSI trendline breakout signals
• Ideal for spotting divergence, compression, and early SMC confluence
This is not your average RSI — it’s a fully reactive momentum edge overlay designed to give you clarity, structure, and timing from within the oscillator itself. Perfect for traders using Smart Money Concepts, divergence setups, or algorithmic trend tracking.
⚔️ Built for precision. Built for edge. Built for Apex.
MestreDoFOMO RENKO Sushy System v6🔍 What is this script?
The MestreDoFOMO RENKO Sushy System is a visual tool developed to help traders better interpret the market trend based on a Renko logic adapted to traditional candlestick charts.
It does not use TradingView's native Renko chart, but rather a simulation of Renko behavior, calculated dynamically in real time, adapting to the percentage movement of the price.
🧠 How does it work?
The script uses a Renko simulation with an adjustable percentage base (Renko Size), allowing the trader to define the size of the virtual "blocks" or "bricks" in % of the price. This logic creates a dynamic trend line that changes direction only when there is a sufficient variation in the price — filtering out noise and helping to focus on the prevailing direction.
When a change in direction occurs, a visual signal is displayed on the chart:
💲 Buy signal, when the trend changes from bearish to bullish
👹 Sell signal, when the trend changes from bullish to bearish
These signals are not automatic trading alerts, but rather visual periodic signals based on the internal logic of the system.
📈 Why do we include EMAs (20, 50 and 200)?
Exponential moving averages (EMAs) are widely used in technical analysis as supporting tools for understanding market structure:
EMA 20: A short-term indicator, useful for capturing recent movements.
EMA 50: Considered an interactive trend average, often used as dynamic support/resistance.
EMA 200: A long-term reference, often used to identify the "bigger direction" of the market.
EMAs are indicated in the script and can be enabled or disabled according to the user's preference. They are not part of the signal logic — they serve only as visual and contextual support to assist the trader's manual analysis.
📋 Included features
✅ Renko logic adapted to the candlestick chart, with sensitivity control in %
✅ Trend line based on the current Renko direction
✅ Visual signals of trend change (buy/sell)
✅ Option to enable/disable EMAs 20, 50 and 200
✅ Information panel with trend status, EMA values and current parameters
✅ Customizable trend change alerts
✅ Background color to strengthen the direction (green = high, red = low)
🛠 How to use?
Choose the timeframe: Works best on timeframes longer than 1 hour (e.g. 1H, 4H, Daily).
Adjust the Renko size (%): Try starting with 1% and adjusting according to the asset (crypto, forex, etc.).
Decide whether to use EMAs: Only activate if you want additional context.
Observe the signals and the trend line: They are useful for detecting possible reversals or confirmations of movement.
Combine with other elements: This system is a support tool. For best results, use it in conjunction with price action, liquidity zones or other complementary indicators.
⚠️ Important notice
This script does not execute orders or make automatic decisions. It is an educational and visual tool created to help read the trend in a clean and simple way.
No guarantee of past or future performance is provided. Use is at the sole risk of the user.
TrendLine + AlertsThe TrendLine + Alerts indicator is an advanced technical analysis tool designed to quickly identify trend direction using various moving averages and RMSD deviation. It dynamically generates buy and sell signals and visually marks entry points with price labels on the chart. Additionally, an optional transaction table can be toggled on or off, displaying buy and sell prices along with the percentage returns of individual trades and an aggregated summary row, facilitating the evaluation of trading strategy performance.
🔧 Key Features:
- Supports multiple moving average types: SMA, EMA, HMA, DEMA, TEMA, RMA, FRAMA
- Dynamic trend analysis based on RMSD deviation, adaptable to current market conditions
- Color-coded trend indication: green for uptrends, red for downtrends
- Alert generation: real-time buy and sell signals (TrendLine BUY / SELL)
- Price labels on the chart for better visualization of entry/exit points
- Interactive settings panel allowing selection of data source (open, close, high, low etc.), adjustable moving average length, and RMSD deviation multiplier
- Optionally displays a dynamic transaction table (toggleable via chart settings) that shows:
- Buy: entry prices
- Sell: exit prices
- Percent: percentage return of each trade, displayed as a number
- A summary row that aggregates the percentage returns, offering a quick evaluation of trading performance
⚙️ Settings:
- Ability to select the data source: open, close, high, low, oc2, hl2, occ3, hlc3, ohlc4, hlcc4
- Adjustable moving average length
- Customizable RMSD deviation multiplier
- Toggle switch to enable or disable the transaction table
🚀 Application:
Ideal for traders seeking an effective method to identify trends and turning points in the market. It is suitable for both short-term day trading and long-term trend analysis, with adjustable settings to suit individual trading strategies.
Auto Support Resistance Channels [TradingFinder] Top/Down Signal🔵 Introduction
In technical analysis, a price channel is one of the most widely used tools for identifying and tracking price trends. A price channel consists of two parallel trendlines, typically drawn from swing highs (resistance) and swing lows (support). These lines define dynamic support and resistance zones and provide a clear framework for interpreting price fluctuations.
Drawing a channel on a price chart allows the analyst to more precisely identify entry points, exit levels, take-profit zones, and stop-loss areas based on how the price behaves within the boundaries of the channel.
Price channels in technical analysis are generally categorized into three types: upward channels with a positive slope, downward channels with a negative slope, and horizontal (range-bound) channels with near-zero slope. Each type offers unique insights into market behavior depending on the price structure and prevailing trend.
Structurally, channels can be formed using either minor or major pivot points. A major channel typically reflects a stronger, more reliable structure that appears on higher timeframes, whereas a minor channel often captures short-term fluctuations or corrective movements within a larger trend.
For instance, a major downward channel may indicate sustained selling pressure across the market, while a minor upward channel could represent a temporary pullback within a broader bearish trend.
The validity of a price channel depends on several factors, including the number of price touches on the channel lines, the symmetry and parallelism of the trendlines, the duration of price movement within the channel, and price behavior around the median line.
When a price channel is broken, it is generally expected that the price will move in the breakout direction by at least the width of the channel. This makes price channels especially useful in breakout analysis.
In the following sections, we will explore the different types of price channels, how to draw them accurately, the structural differences between minor and major channels, and key trade interpretations when price interacts with channel boundaries.
Up Channel :
Down Channel :
🔵 How to Use
A price channel is a practical tool in technical analysis for identifying areas of support, resistance, trend direction, and potential breakout zones. The structure consists of two parallel trendlines within which price fluctuates.
Traders use the relative position of price within the channel to make informed trading decisions. The two primary strategies include range-based trades (buying low, selling high) and breakout trades (entering when price exits the channel).
🟣 Up Channel
In an upward channel, price moves within a positively sloped range. The lower trendline acts as dynamic support, while the upper trendline serves as dynamic resistance. A common strategy involves buying near the lower support and taking profit or selling near the upper resistance.
If price breaks below the lower trendline with strong volume or a decisive candle, it can signal a potential trend reversal. Channels constructed from major pivots generally reflect dominant uptrends, while those based on minor pivots are often corrective structures within a broader bearish movement.
🟣 Down Channel
In a downward channel, price moves between two negatively sloped lines. The upper trendline functions as resistance, and the lower trendline as support. Ideal entry for short trades occurs near the upper boundary, especially when confirmed by bearish price action or a resistance level.
Exit targets are typically located near the lower support. If the upper boundary is broken to the upside, it may be an early sign of a bullish trend reversal. Like upward channels, a major down channel represents broader selling pressure, while a minor one may indicate a brief retracement in a bullish move.
🟣 Range Channel
A horizontal or range-bound channel is characterized by price oscillating between two nearly flat lines. This type of channel typically appears during sideways markets or periods of consolidation.
Traders often buy near the lower boundary and sell near the upper boundary to take advantage of contained volatility. However, fake breakouts are more frequent in range-bound structures, so it is important to wait for confirmation through candlestick signals and volume. A confirmed breakout beyond the channel boundaries can justify entering a trade in the direction of the breakout.
🔵 Settings
Pivot Period :This parameter defines how sensitive the channel detection is. A higher value causes the algorithm to identify major pivot points, resulting in broader and longer-term channels. Lower values focus on minor pivots and create tighter, short-term channels.
🔔 Alerts
Alert Configuration :
Enable or disable the full alert system
Set a custom alert name
Choose the alert frequency: every time, once per bar, or on bar close
Define the time zone for alert timestamps (e.g., UTC)
Channel Alert Types :
Each channel type (Major/Minor, Internal/External, Up/Down) supports two alert types :
Break Alert : Triggered when price breaks above or below the channel boundaries
React Alert : Triggered when price touches and reacts (bounces) off the channel boundary
🎨 Display Settings
For each of the eight channel types, you can customize:
Visibility : show or hide the channel
Auto-delete previous channels when new ones are drawn
Style : line color, thickness, type (solid, dashed, dotted), extension (right only, both sides)
🔵 Conclusion
The price channel is a foundational structure in technical analysis that enables traders to analyze price movement, identify dynamic support and resistance zones, and locate potential entry and exit points with greater precision.
When constructed properly using minor or major pivots, a price channel offers a consistent and intuitive framework for interpreting market behavior—often simpler and more visually clear than many other technical tools.
Understanding the differences between upward, downward, and range-bound channels—as well as recognizing the distinctions between minor and major structures—is critical for selecting the right trading strategy. Upward channels tend to generate buying opportunities, downward channels prioritize short setups, and horizontal channels provide setups for both mean-reversion and breakout trades.
Ultimately, the reliability of a price channel depends on various factors such as the number of touchpoints, the duration of the channel, the parallelism of the lines, and how the price reacts to the median line.
By taking these factors into account, an experienced analyst can effectively use price channels as a powerful tool for trend forecasting and precise trade execution. Although conceptually simple, successful application of price channels requires practice, pattern recognition, and the ability to filter out market noise.
WAGMI LAB Trend Reversal Indicator HMA-Kahlman (m15)WAGMI HMA-Kahlman Trend Reversal Indicator
This indicator combines the Hull Moving Average (HMA) with the Kahlman filter to provide a dynamic trend reversal signal, perfect for volatile assets like Bitcoin. The strategy works particularly well on lower timeframes, making it ideal for intraday trading and fast-moving markets.
Key Features:
Trend Detection: It uses a blend of HMA and Kahlman filters to detect trend reversals, providing more accurate and timely signals.
Volatility Adaptability: Designed with volatile assets like Bitcoin in mind, this indicator adapts to rapid price movements, offering smoother trend detection during high volatility.
Easy Visualization: Buy (B) and Sell (S) signals are clearly marked with labels, helping traders spot trend shifts quickly and accurately.
Trendlines Module: The indicator plots trendlines based on pivot points, highlighting important support and resistance levels. This helps traders understand the market structure and identify potential breakout or breakdown zones.
Customizable: Adjust the HMA and Kahlman parameters to fit different assets or trading styles, making it flexible for various market conditions.
Usage Tips:
Best Timeframes: The indicator performs exceptionally well on lower timeframes (such as 15-minute to 1-hour charts), making it ideal for scalping and short-term trading strategies.
Ideal for Volatile Assets: This strategy is perfect for highly volatile assets like Bitcoin, but can also be applied to other cryptocurrencies and traditional markets with high price fluctuations.
Signal Confirmation: Use the trend signals (green for uptrend, red for downtrend) along with the buy/sell labels to help you confirm potential entries and exits. It's also recommended to combine the signals with other technical tools like volume analysis or RSI for enhanced confirmation.
Trendline Analysis: The plotted trendlines provide additional visual context to identify key market zones, supporting your trading decisions with a clear view of ongoing trends and possible reversal areas.
Risk Management: As with any strategy, always consider proper risk management techniques, such as stop-loss and take-profit levels, to protect against unforeseen market moves.
OBV TSI IndicatorThe OBV TSI Indicator combines two powerful technical analysis tools: the On-Balance Volume (OBV) and the True Strength Index (TSI). This hybrid approach provides insights into both volume dynamics and momentum, helping traders identify potential trend reversals, breakouts, or continuations with greater accuracy.
The OBV TSI Indicator tracks cumulative volume shifts via OBV and integrates the TSI for momentum analysis. It offers customizable moving average options for further smoothing. Visual trendlines, pivot points, and signal markers enhance clarity.
The OBV tracks volume flow by summing volumes based on price changes. Positive volume is added when prices rise, and negative volume is subtracted when prices fall. The result is smoothed to detect meaningful trends in volume. A volume spread is derived from the difference between the smoothed OBV and cumulative volume. This is then adjusted by the price deviation to generate the shadow spread, which highlights critical volume-driven price levels.
The shadow spread is added to either the high or low price, depending on its sign, producing a refined OBV output. This serves as the main source for the subsequent TSI calculation. The TSI is a momentum oscillator calculated using double-smoothed price changes. It provides an accurate measure of trend strength and direction.
Various moving average options, such as EMA, DEMA, or TEMA, are applied to the smoothed OBV for additional trend filtering. Users can select their preferred type and length to suit their trading strategy. Trendlines are plotted to visualize the overall direction. When a significant change in trend is detected, up or down arrows indicate potential buy or sell signals. The script identifies key pivot points based on the highest and lowest levels within a defined period. These pivots help pinpoint reversal zones.
The indicator offers customization options, allowing users to adjust the OBV length for smoothing, choose from various moving average types, and fine-tune the short, long, and signal periods for TSI. Additionally, users can toggle visibility for trendlines, signals, and pivots to suit their preferences.
This indicator is ideal for practical use cases such as spotting potential trend reversals by observing TSI crossovers and pivot levels, anticipating breakouts from key price levels using the shadow spread, and validating trends by aligning TSI signals with OBV and moving averages.
The OBV TSI Indicator is a versatile tool designed to enhance decision-making in trading by combining volume and momentum analysis. Its flexibility and visual aids make it suitable for traders of all experience levels. By leveraging its insights, you can confidently navigate market trends and improve your trading outcomes.
New Rate - PROIndicator Description: New Rate - PRO
The New Rate - PRO is an advanced trading indicator designed to assist traders in identifying significant price levels and potential reversal points within a specified time frame. By highlighting key highs and lows, projecting trendlines, and providing visual cues, this indicator enhances your ability to make informed trading decisions. It offers extensive customization options, ensuring adaptability to various trading styles and market conditions.
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Key Features:
Customizable Color Themes: Choose between Dark and Light color styles to match your chart preferences.
High and Low Line Detection: Automatically identifies and draws lines for significant high and low price levels within the defined analysis period.
Midline Projection: Optionally displays a midline representing the 50% range between the detected high and low, aiding in trend analysis.
Candle Coloring: Colors the first six candles within the analysis range with a specific color, while the remaining candles are displayed in a subdued gray for clarity.
Trading Session Highlight: Highlights the designated trading hours on the chart, providing a clear visual reference for active trading periods.
Touch Detection Arrows: Plots arrows on the chart when the price touches the detected high or low levels, indicating potential trading opportunities.
Extensive Customization Options: Allows users to adjust line colors, styles, widths, label texts, and more to suit individual trading preferences.
Timeframe and Range Configuration: Defines the specific timeframe and time range for analysis, ensuring precise detection of significant price levels.
How Does the Indicator Work?
Color Style Selection:
- Choose between "Dark" or "Light" themes to match your chart setup, adjusting the color palette for optimal visibility.
High and Low Line Detection:
- The indicator analyzes the first six candles within the specified time range to identify the highest and lowest price levels.
- Once detected, it draws horizontal lines extending 25 candles to the right, marking these significant levels on the chart.
Midline Projection:
- If enabled, the indicator calculates the midpoint between the detected high and low.
- It then draws a horizontal line at this midpoint, providing an additional reference for potential support or resistance.
Candle Coloring:
- The first six candles within the analysis period are colored based on user selection (default: yellow).
- Subsequent candles are displayed in a semi-transparent gray, allowing the key candles to stand out.
Trading Session Highlight:
- Highlights the active trading hours on the chart using a semi-transparent orange background.
- This visual aid helps traders focus on periods of increased market activity.
Touch Detection Arrows:
- When the price touches the previously detected high or low levels, the indicator plots an upward green arrow or a downward red arrow, respectively.
- These arrows signal potential entry points for buy or sell trades.
Customization of Labels and Lines:
- Users can customize the colors, styles (Solid, Dotted, Dashed), and widths of the high, low, and midline.
- Label texts and font sizes are also adjustable to enhance readability.
How to Use the Indicator?
Setup Color Themes:
- Select your preferred color theme ("Dark" or "Light") to ensure the indicator aligns with your chart's appearance.
Configure High and Low Lines:
- Adjust the line color, style, and width to clearly distinguish high and low levels on the chart.
- Enable or disable the midline based on your analysis needs.
Set Timeframe and Analysis Range:
- Define the chart's timeframe in minutes (e.g., 5 minutes) to tailor the indicator's sensitivity.
- Specify the start and end hours and minutes for the analysis period to focus on specific trading sessions.
Customize Candle Colors:
- Choose the color for the first six candles within the analysis range.
- The remaining candles will automatically be displayed in a default gray color.
Enable Trading Session Highlight:
- Activate the background highlight for the trading session to visually separate active trading hours from inactive periods.
Monitor Touch Detection Arrows:
- Watch for green upward arrows indicating potential buy signals when the price touches the high level.
- Look for red downward arrows signaling potential sell opportunities when the price reaches the low level.
Adjust Labels and Visual Elements:
- Modify label texts and font sizes to ensure clarity and avoid clutter on the chart.
- Fine-tune line styles and colors for better visual differentiation.
Plan Your Trades:
- Use the detected high and low levels as reference points for setting entry, stop-loss, and take-profit levels.
- Combine with other technical analysis tools to confirm trade signals and enhance decision-making.
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What Makes This Indicator Original?
Dynamic High and Low Detection: Automatically identifies significant price levels within a defined time range, providing timely insights into market movements.
Midline Projection Feature: Offers an additional reference point by calculating and displaying the midpoint between high and low levels, aiding in trend analysis.
Customizable Visual Elements: Extensive customization options for colors, styles, and labels allow traders to tailor the indicator to their specific preferences and trading environments.
Touch Detection Arrows: Provides clear visual signals when the price interacts with key levels, facilitating quick decision-making for trade entries.
Trading Session Highlight: Enhances focus by visually distinguishing active trading periods, helping traders concentrate on high-probability trading times.
Trade Summary Visualization: (If applicable based on code) Offers a summary of recent trades, allowing traders to assess performance directly on the chart.
Additional Considerations
Testing and Optimization: Before deploying the indicator in live trading, test it on historical data and a demo account to fine-tune settings according to your trading strategy.
Complementary Analysis: Use the indicator alongside other technical analysis tools such as moving averages, trendlines, and oscillators to confirm trade signals.
Risk Management: Always set appropriate stop-loss and take-profit levels to manage risk effectively, regardless of the indicator's signals.
Stay Informed: Keep abreast of market news and economic events that may influence price movements and affect the indicator's performance.
Adjust for Different Assets: Customize the indicator's settings based on the asset's volatility and trading behavior to enhance accuracy and reliability.
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Example Configuration
To help you get started, here is an example configuration:
Color Style: Dark
Line Color (High and Low): Red
Line Style (High and Low): Dotted
Line Width (High and Low): 2
Midline Color (50%): Blue
Show Midline: Yes
Label Text Color: Gray
Label Font Size: Medium
Candle Color (First 6 Candles): Yellow
Default Candle Color (Remaining Candles): Semi-transparent Gray
Timeframe Minutes: 5
Analysis Start Time: 08:35
Analysis End Time: 09:05
These settings are optimized for a 5-minute XAUUSD chart during the 8:35 to 09:05 trading session, highlighting key price levels and providing clear visual signals for potential trades.
Conclusion
The New Rate - PRO indicator is tool that combines dynamic price level detection with extensive customization and real-time visual cues. By automatically identifying significant highs and lows, projecting trendlines, and signaling potential trade opportunities, it enhances your ability to navigate the markets effectively. Its adaptability through customizable settings ensures that it can be tailored to various trading styles and market conditions, making it a valuable addition to any trader's toolkit.
[blackcat] L5 Dragon-Void-Dragon for Spot TradingLevel: 5
Background
First of all, this L5 technical indicator is only suitable for spot trading. Because its algorithm is only designed for one-way long, and there is no algorithm for short-selling mechanism.
This technical indicator is the main chart indicator of the integrated trend line, channel technology and moving average technology. Trendlines are straight lines connecting at least two significant highs or lows on a price chart, indicating the direction and strength of a trend. Channels are parallel lines that contain price action within a trend, showing the range and potential reversal points.
Function
Trend lines, channel indicators, and moving averages are all very good subjective technical indicators. However, I have found that if one of the three is used mechanically, or a combination of the three often does not achieve good trading results.Therefore, through continuous practice and summary, I implemented some subjective ideas through algorithms, which improved the winning rate after the integration of the three. Buy and sell points are also more accurate.This involves automatic drawing of trend lines and channel indicators. It is conceivable that if you want to draw relatively stable trend lines and channel indicators, you have to wait until the price trend is relatively stable to obtain stable trend lines and channel lines. The advantage of this is that the subsequent price may rely on this inertia to move up and down the trend line or in the channel, which can be the basis for trend reversal. On the other hand, the formation of trendlines and channel indicators requires price movements and time as prerequisites. This means that the process of waiting for the formation of the trend must also sacrifice part of the profit. This is a trade-off between corresponding characteristics and stable characteristics. What we need to do is to find a perfect balance between the two, and expand profits while keeping risks within a controllable range. Ultimately realize big wins and small losses, long-term compound interest accumulation.
The technical elements reflected in this indicator are: channel line, color of trend strength, double moving average. And through the calculation of the background algorithm, some labels for buying and selling are obtained as alarm signals.
Key Signal
Overall this indicator is quite intuitive and does not require a lot of intellect to understand how to use it. It can be summarized as:
1. If the channel is in a warm color and the direction points to the upper right corner, then go long; if the channel is in a cool color and the direction points to the lower right corner, then go short or close the position.
2. The color of the channel is changed from cool to warm. The extreme value of the cool color is dark blue, which means that it is extremely oversold; the extreme value of the warm color is purple, which means that it is extremely overbought; therefore, when you see channels in different directions, you should also pay attention to their colors, which means that the current channel is in the market Where, and if you need to be careful about price reversals.
3. Because this technical indicator is specially developed for spot trading. Therefore, if you want to enter the market, it is generally better to have the color of the channel and the candle be yellow and orange. Otherwise, it is just a rebound, and the price will repeat more later, and it is more necessary to continue to fall.
4. The double moving average system is also specially customized, mainly combined with Zen Theory's Kiss Saying. This double moving average system is a pressure and support system other than the channel. When an uptrend is relayed and continues to rise after a retracement, the Kiss, Wet-Kiss, and Fly-Kiss triggered by the double moving average will generate yellow and orange buy signal labels.
5. This system needs to wait for the price trend to stabilize before generating a buying and selling point, so there are not many buying and selling signals, and of course some entry opportunities will be missed. Of course, this is the result of sacrificing timeliness for transaction stability. So, be flexible. If your trading style is more aggressive, you can only use the buy and sell labels as auxiliary signals.
Remarks
1. It need time to stablize trendlines and channels, so "B"/"S" labels may not be so in time.
2. Closed-source, Invite-only, NOT free.
3. Highl recommended to use this indicator for >= 30min timeframe, which means this is powerful for swing trading.
4. If you are trading crypto, highly recommend use " L3 RS MSFIELD Crypto" indicator as a screener to find target is stronger than Bitcoin.
5. If you are trading CN A Share, highly recommend use " L3 RS MSFIELD CN A Share" indicator as a screener to find target is stronger than SSE Index.
Subscription
L4/L5 are not free indicators. Trail permissions can be given. Monthly and annual subscriptions are acceptable.
Pivot Point Trend LineThis Indicator simply draw lines between high pivot points and low points.
in the code by default its used tradingview default ta.pivothigh and ta.pivotlow function to get the high and low points.
it will generate recent 4 lines of high and low pivot points.
you can change the no of days for both highs and lows pivot points.
this script is not generating any buy or sell signals its just autodraw and connect 2 pivot points. so you dont have to do it manually.
Donchian Channels [Gu5]█ OVERVIEW
I changed the design of the classic indicator "Donchian Channels", for easy reading.
█ CONCEPTS
Donchian Channels is an indicator made up of upper and lower bands around a mid-band or Basis.
The upper band marks the highest price of a security for N periods, while the lower band marks the lowest price of a security for N periods. The area between the upper and lower bands.
In this version, when there are new Higher High (HH), the trend is Bullish and the channel is painted green.
When there are new Lower Low (LL), the trend is Bearish and the channel is painted Red
█ OTHER SECTIONS
A plus in this script: When there are no new highs or new lows, there is no certain trend
The channel is painted yellow
www.tradingview.com
• HOW TO USE
Menu "Display"
• '■ Basis On/Off': Shows the midline Basis
• '■ Alert On/Off': Shows alerts labels
• '■ Fill On/Off': Paint the entire channel the color of the trend
• '■ Bar Color On/Off': Paint the candle the color of the trend
• '■ Close Alert On/Off': Shows alerts end of trend
• NOTES:
This code was written using the recommendations from the Pine Script™ User Manual's Style Guide
• RAMBLINGS:
You can use the "Basis" line as Trailing Stop.
• THANKS:
Donchian Channels developed by Richard Donchian
and many MANY thanks to @PineCoders
Inverse Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws inverse head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Inverse Head and Shoulders Patterns
Inverse head and shoulders patterns are generally characterised by three troughs with the one in the middle being the lowest of the three.
The current peak acts as neckline resistance and the trendline drawn from the preceding peak to current peak acts as dynamic neckline resistance.
Traders typically look for breakouts of Inverse head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Head and Shoulders Patterns
Head and shoulders patterns are generally characterised by three peaks with the one in the middle being the highest of the three.
The current trough acts as neckline support and the trendline drawn from the preceding trough to current trough acts as dynamic neckline support.
Traders typically look for breakdowns of head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Descending Inv. Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws descending inverse head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Descending Inverse Head and Shoulders Patterns
Descending inverse head and shoulders patterns are generally characterised by three troughs with the one in the middle being the lowest of the three and the third trough being lower than the first. Similarly, the two peaks that connect the three troughs are also descending, with the second peak, or right shoulder peak, being lower than the preceding peak, or left shoulder peak.
The current peak acts as neckline resistance and the trendline drawn from the preceding peak to current peak acts as dynamic neckline resistance.
Traders typically look for breakouts of descending head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Descending Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws descending head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Descending Head and Shoulders Patterns
Descending head and shoulders patterns are generally characterised by three peaks with the one in the middle being the highest of the three and the third peak being lower than the first. Similarly, the two troughs that connect the three peaks are also descending, with the second trough, or right shoulder trough, being lower than the preceding trough, or left shoulder trough.
The current trough acts as neckline support and the trendline drawn from the preceding trough to current trough acts as dynamic neckline support.
Traders typically look for breakouts of descending head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Ascending Inv. Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws ascending inverse head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Ascending Inverse Head and Shoulders Patterns
Ascending inverse head and shoulders patterns are generally characterised by three troughs with the one in the middle being the lowest of the three and the third trough being higher than the first. Similarly, the two peaks that connect the three troughs are also ascending, with the second peak, or right shoulder peak, being higher than the preceding peak, or left shoulder peak.
The current peak acts as neckline resistance and the trendline drawn from the preceding peak to current peak acts as dynamic neckline resistance.
Traders typically look for breakouts of ascending inverse head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Ascending Head and Shoulders Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws ascending head and shoulders patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Ascending Head and Shoulders Patterns
Ascending head and shoulders patterns are generally characterised by three peaks with the one in the middle being the highest of the three and the third peak being higher than the first. Similarly, the two troughs that connect the three peaks are also ascending, with the second trough, or right shoulder trough, being higher than the preceding trough, or left shoulder trough.
The current trough acts as neckline support and the trendline drawn from the preceding trough to current trough acts as dynamic neckline support.
Traders typically look for breakdowns of ascending head and shoulders necklines to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Necklines
• Show Dynamic Necklines
• Show Projections
• Pattern Color
• Pattern Neckline Color
• Extend Current Pattern Lines
• Extend Current Pattern Necklines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Wedge Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws wedge patterns and price projections derived from the ranges that constitute the patterns.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Breakouts and Breakdowns
• A breakout occurs when the price of an asset breaks above a resistance level.
• A breakdown occurs when the price of an asset breaks below a support level.
• A confirmed breakout occurs when the price of an asset breaks and closes above a resistance level.
• A confirmed breakdown occurs when the price of an asset breaks and closes below a support level.
It's important to note that breakouts and breakdowns of resistance and support levels are not always relevant, and the price of an asset can also reverse once it has broken through a level to carry on in the opposite direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
Wedge Patterns
Wedge patterns are generally characterised by converging trend lines drawn from four points that form a triangle, or wedge shape. Traders typically look for breakouts or breakdowns of wedge patterns to identify potential trading opportunities, with targets and stop losses set as multiples of the pattern's range.
█ FEATURES
Inputs
• Show Historic
• Show Projections
• Pattern Color
• Extend Current Pattern Lines
• Extend Current Projection Lines
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Faytterro Market Structerethis indicator creates the market structure with a little delay but perfectly. each zigzag is always drawn from highest to lowest. It also signals when the market structure is broken. signals fade over time.
The table above shows the percentage distance of the price from the last high and the last low.
zigzags are painted green when making higher peaks, while lower peaks are considered downtrends and are painted red. In fact, the indicator is quite simple to understand and use.
"length" is used to change the frequency of the signal.
"go to past" is used to see historical data.
Please review the examples:
𝕋𝕣𝕖𝕟𝕕𝕝𝕚𝕟𝕖𝕤[𝕧𝕟]-This is an indicator for trendline traders
-Pine Script strategy draws pivot points and trendlines on the chart.
-This strategy allows the user to specify the interval to calculate the pivot points and the number of pivot points used to generate the trend lines .
-when an up (or down) trendline is drawn according to the settings in the indicator's settings, that line is support and resistance so we can proceed to make BUY or SELL points according to the support strategy. and resistance
-when the price line breaks above or below the trendline, the price has reversed to the nearest trendline (like the examples in the pictures below.)
-The horizontal lines of the trend line , after being broken, it will form a support or resistance area , and it is likely that the price will retest that area to continue following the broken trend.
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Vietnamese
-Đây là chỉ báo dành cho các trader thuộc trường phái phân tích đường xu hướng
-Chiến lược Pine Script vẽ các điểm trục và đường xu hướng trên biểu đồ.
-Chiến lược này cho phép người dùng chỉ định khoảng thời gian tính toán các điểm xoay và số điểm xoay được sử dụng để tạo các đường xu hướng .
-khi đường xu hướng tăng(hoặc giảm) được vẽ ra theo các thiết lập trong cài đặt của chỉ báo,thì đường đó là hỗ trợ,kháng cự để ta có thể tiến hành thực hiện điểm BUY hoặc SELL theo chiến lược hỗ trợ và kháng cự
-khi đường giá mà phá vỡ lên trên hoặc xuống dưới đường xu hướng thì giá đã đảo chiều ngược với đường xu hướng gần nhất (như các ví dụ trong các hình dưới đây.)
-Những đường nằm ngang của đường xu hướng sau khi bị phá vỡ nó sẽ hình thành cho ta là vùng hỗ trợ hoặc kháng cự mà rất có thể giá sẽ kiểm tra lại vùng đó để tiếp tục theo xu hướng bị phá vỡ.
here are some pictures when using this trendline indicator(dưới đây là một số hình ảnh khi dùng với chỉ báo trendline này)
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*break above trendline to form an uptrend(phá vỡ đường trendline bên trên để hình thành xu hướng tăng giá)
*Break the below trendline to form a downtrend(phá vỡ đường trendline bên dưới để hình thành xu hướng giảm giá)
*Support and resistance areas are created by two rising and falling trendlines(Vùng hỗ trợ,kháng cự được tạo ra bởi 2 đường trendline tăng và giảm)
*price is stuck between 2 up and down trendlines (wedge pattern)
giá đang bị kẹt giữa 2 đường trendline tăng và giảm(mô hình cái nêm)
*Adjust the length ,short parameters of the trendline(điều chỉnh độ dài ,ngắn các thông số của đường xu hướng)
- for the "Full Trend Lines" script, please visit the following page🎯🎯🎯:
A New Adaptive Moving Average [CC]The New Adaptive Moving Average was created by Scott Cong (Stocks and Commodities Mar 2023) and his idea was to focus on the Adaptive Moving Average created by Perry Kaufman and to try to improve it by introducing a concept of effort vs results. In this case the effort would be the total range of the underlying price action since each bar is essentially a war of the bulls vs the bears. The result would be the total range of the close so we are looking for the highest close and lowest close in that same time period. This gives us an alpha that we can use to plug into the Kaufman Adaptive Moving Average algorithm which gives us a brand new indicator that can hug the price just enough to allow us to ride the stock up or down. I have color coded it to be darker colors when it is a strong signal and lighter colors when it is a normal signal. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Linear Average PriceWhat is "Linear Average Price"?
"Linear Average Price" is both a trend and an overbought oversold indicator .
What it does?
it creates a trendline and trading zones.
How it does it?
To create the trend line, it averages the difference between each data and chooses it as the slope of the line it creates. then it positions this line so that it passes right through the middle of the data at hand. It uses standard deviation to create trading zones.
How to use it?
It can be used both to have an idea about the trend direction and to determine buy-sell zones. You can choose how many candles the indicator will calculate from the "lenght" section. The "range" part is the coefficient of the standard deviation and can be used to expand or collapse zones.
The Oracle v3 [Redbeard]Welcome,
as the name already says, this indicator will help you to find very early long and short signals for cryptocurrencies and stocks (Didnt test Forex yet).
In the comment section below, i will post some chart examples, in which you will see, how successful the indicator works, when you follow some rules.
1. What does the indicator contain:
This one indicator contains 5 different indicators, which 4 of them are being used as "confirmation signals".
Main Line: The green/red line is a modified RSI , so trendlines are easier to draw.
Stochastic: A regular stochastic indicator.
Multi Divergences: The red/orange and green/olive colored tags with numbers in it, display divergences.
MFI: The vertical blue/purple lines, are being displayed using a MFI calculation. They simply display potential tops/bottoms.
Long/Short Tags: The yellow and blue colored tags with the text "Long/Short" in it, are being displayed by another "secret" indicator.
White vertical line: This is only a offset, so everyone who uses this indicator, knows in which area he should look for trendlines .
2. How to use the indicator:
Its very simple: Trendlines
The only thing you have to do by yourself, is to look for trendline on the "green/red" Main line and to draw them.
If the Main Line closes above a resistance trendline or closes below a support trendline AND has 1-2 additional confirmation signals, then you might have a good early entry.
The most important thing are the stop losses, because like any other indicator, it wont work to 100%. But this i will explain in the discord
3. On which timeframes does it work?
It works on any timeframe.
4. Who should use it?
People who are willing to learn, how to use the indicator.
People with some basic expirience (what is a divergence, what is a trendline)
5. Do i need more indicators?
In best case yes.
Im using 2 additional indicators, which you can use too.
6. Is there any backtest or are there any "proofs" of how good the indicators worked in the past?
Yes.
I will share some examples from the past in the comment section.
