[dharmatech] KBDR Mean ReversionBased on the criteria described in the book "Mean Revision Trading" by Nishant Pant.
Bullish signal criteria:
Bollinger Bands must be outside Keltner Channel
Price near bottom bband
DI+ increasing
DI- decreasing
RSI near bottom and increasing
Bearish signal criteria:
Bollinger Bands must be outside Keltner Channel
Price near upper bband
DI+ decreasing
DI- increasing
RSI near upper and decreasing
A single triangle indicates that all 4 criteria are met.
If letters appear with the triangle, this indicates that there was a partial criteria match.
K : bbands outside Keltner
B : bbands criteria met
D : DI criteria met
R : RSI criteria met
You can use the settings to turn off partial signals. For example:
"Partial 3" means show signals where 3 of the criteria are met.
If you want more insight into the underlying criteria, load these indicators as well:
Bollinger Bands (built-in to TradingView)
Keltner Channels (built-in to TradingView)
RSI (built-in to TradingView)
ADX and DI
Warning:
Not meant to be used as a stand-alone buy/sell signal.
It regularly provides signals which would not be profitable.
It's meant to be used in conjunction with other analysis.
Think of this as a time-saving tool. Instead of manually checking RSI, DI+/DI-, bbands, distance, etc. this does all of that for you on the fly.
ابحث في النصوص البرمجية عن "band"
Z-Score Based Momentum Zones with Advanced Volatility ChannelsThe indicator "Z-Score Based Momentum Zones with Advanced Volatility Channels" combines various technical analysis components, including volatility, price changes, and volume correction, to calculate Z-Scores and determine momentum zones and provide a visual representation of price movements and volatility based on multi timeframe highest high and lowest low values.
Note: THIS IS A IMPROVEMNT OF "Multi Time Frame Composite Bands" INDICATOR OF MINE WITH MORE EMPHASIS ON MOMENTUM ZONES CALULATED BASED ON Z-SCORES
Input Options
look_back_length: This input specifies the look-back period for calculating intraday volatility. correction It is set to a default value of 5.
lookback_period: This input sets the look-back period for calculating relative price change. The default value is 5.
zscore_period: This input determines the look-back period for calculating the Z-Score. The default value is 500.
avgZscore_length: This input defines the length of the momentum block used in calculations, with a default value of 14.
include_vc: This is a boolean input that, if set to true, enables volume correction in the calculations. By default, it is set to false.
1. Volatility Bands (Composite High and Low):
Composite High and Low: These are calculated by combining different moving averages of the high prices (high) and low prices (low). Specifically:
a_high and a_low are calculated as the average of the highest (ta.highest) and lowest (ta.lowest) high and low prices over various look-back periods (5, 8, 13, 21, 34) to capture short and long-term trends.
b_high and b_low are calculated as the simple moving average (SMA) of the high and low prices over different look-back periods (5, 8, 13) to smooth out the trends.
high_c and low_c are obtained by averaging a_high with b_high and a_low with b_low respectively.
IDV Correction Calulation : In this script the Intraday Volatility (IDV) is calculated as the simple moving average (SMA) of the daily high-low price range divided by the closing price. This measures how much the price fluctuates in a given period.
Composite High and Low with Volatility: The final c_high and c_low values are obtained by adjusting high_c and low_c with the calculated intraday volatility (IDV). These values are used to create the "Composite High" and "Composite Low" plots.
Composite High and Low with Volatility Correction: The final c_high and c_low values are obtained by adjusting high_c and low_c with the calculated intraday volatility (IDV). These values are used to create the "Composite High" and "Composite Low" plots.
2. Momentum Blocks Based on Z-Score:
Relative Price Change (RPC):
The Relative Price Change (rpdev) is calculated as the difference between the current high-low-close average (hlc3) and the previous simple moving average (psma_hlc3) of the same quantity. This measures the change in price over time.
Additionally, std_hlc3 is calculated as the standard deviation of the hlc3 values over a specified look-back period. The standard deviation quantifies the dispersion or volatility in the price data.
The rpdev is then divided by the std_hlc3 to normalize the price change by the volatility. This normalization ensures that the price change is expressed in terms of standard deviations, which is a common practice in quantitative analysis.
Essentially, the rpdev represents how many standard deviations the current price is away from the previous moving average.
Volume Correction (VC): If the include_vc input is set to true, volume correction is applied by dividing the trading volume by the previous simple moving average of the volume (psma_volume). This accounts for changes in trading activity.
Volume Corrected Relative Price Change (VCRPD): The vcrpd is calculated by multiplying the rpdev by the volume correction factor (vc). This incorporates both price changes and volume data.
Z-Scores: The Z-scores are calculated by taking the difference between the vcrpd and the mean (mean_vcrpd) and then dividing it by the standard deviation (stddev_vcrpd). Z-scores measure how many standard deviations a value is away from the mean. They help identify whether a value is unusually high or low compared to its historical distribution.
Momentum Blocks: The "Momentum Blocks" are essentially derived from the Z-scores (avgZScore). The script assigns different colors to the "Fill Area" based on predefined Z-score ranges. These colored areas represent different momentum zones:
Positive Z-scores indicate bullish momentum, and different shades of green are used to fill the area.
Negative Z-scores indicate bearish momentum, and different shades of red are used.
Z-scores near zero (between -0.25 and 0.25) suggest neutrality, and a yellow color is used.
Volatility Price RangeThe Volatility Price Range is an overlay which estimates a price range for the next seven days and next day, based on historical volatility (already available in TradingView). The upper and lower bands are calculated as follows:
The Volatility for one week is calculated using the formula: WV = HV * √t where:
WV: one-week volatility
HV: annual volatility
√: square root
t: the time factor expressed in years
From this formula we can deduce the weekly volatility WV = HV * √(1 / 52) = HV / 7.2 where 52: weeks in a year.
The daily volatility DV = HV * √(1 / 365) = HV / 19.1 where 365: days in a year.
To calculate the lower and upper value of the bands, the weekly/daily volatility value obtained will be subtracted/added from/to the current price.
Trend Channels With Liquidity Breaks [ChartPrime]Trend Channels
This simple trading indicator is designed to quickly identify and visualize support and resistance channels in any market. The primary purpose of the Trend Channels with Liquidity Breaks indicator is to recognize and visualize the dominant trend in a more intuitive and user-friendly manner.
Main Features
Automatically identifies and plots channels based on pivot highs and lows
Option to extend the channel lines
Display breaks of the channels where liquidity is deemed high
Inclusion of volume data within the channel bands (optional)
Market-friendly and customizable colors and settings for easy visual identification
Settings
Length: Adjust the length and lookback of the channels
Show Last Channel: Only shows the last channel
Volume BG: Shade the zones according to the volume detected
How to Interpret
Trend Channels with Liquidity Breaks indicator uses a combination of pivot highs and pivot lows to create support and resistance zones, helping traders to identify potential breakouts, reversals or continuations of a trend.
These support and resistance zones are visualized as upper and lower channel lines, with a dashed center line representing the midpoint of the channel. The indicator also allows you to see the volume data within the channel bands if you choose to enable this functionality. High volume zones can potentially signal strong buying or selling pressure, which may lead to potential breakouts or trend confirmations.
To make the channels more market-friendly and visually appealing, Trend Channels indicator also offers customizable colors for upper and lower lines, as well as the possibility to extend the line lengths for further analysis.
The indicator displays breaks of key levels in the market with higher volume.
Deviations from ARL (DARL)Similar to Bollinger Bands, this indicator uses standard deviations but from Adaptive Rebound Lines (See: 'ARL').
The adaptiveness of the 'ARL' is further affected by volatility and helps greatly in spotting the possible strength and direction of rebounds.
All this information is presented with minimal lag thanks to the rebound qualities of the 'ARL' adapting to market volatility.
----- HOW TO USE IT -----
1) Use with 1h time frame.
2) Smaller width typically means that price will be moving is smaller movements.
3) Small price movements while the width is increasing typically means that a large price move will occur soon.
4) Larger width typically means that price will be moving in larger movements.
5) Very large width with sideways price typically means that the price will have a bias towards the center.
Note: A V-Offset of 1 is also a good setting alternative for this indicator.
----- HOW THIS INDICATOR IS ORIGINAL; WHAT IT DOES AND HOW IT DOES IT -----
This indicator has an original, unique ability in anticipating the strength and direction of a price rebound while at the same time showing the bias of the rebound with minimal lag.
It does this by letting the adaptive qualities of the 'ARL' be affected by market volatility, not just by price movement alone.
----- VERSION -----
This indicator is not a variation, replacement, or presentation of the 'ARL' or the 'ARL' Bands -- it merely derives its base calculations for standard deviations from the 'ARL'.
However, this indicator affects the calculations of the standard 'ARL' with volatility and creates a new, unique calculation.
It thus presents a totally different context for price action.
A standard 'ARL' helps in finding possible rebounds but it does not help in finding the strength of them or the directional bias of a rebound.
This is because a standard 'ARL' is more negligent of market volatility and adapts to price movement alone.
In contrast, this indicator does help in anticipating the strength and direction of the rebound because it adapts deviations from an 'ARL' to market volatility.
Therefore, the lines cannot be adjusted individually but in pairs and only further from their respective, mirroring lines.
God's Little FingerThe "God's Little Finger" indicator uses several technical analysis tools to provide information about the direction of the market and generate buy/sell signals. These tools include a 200-period exponential moving average (EMA), Moving Average Convergence Divergence (MACD), Bollinger Bands, and the Relative Strength Index (RSI).
EMA is used to determine if prices are trending. MACD measures the speed and momentum of the trend. Bollinger Bands are used to determine if prices are staying within a range and to measure the strength of the trend. RSI shows overbought/oversold levels and can be used to determine if the trend will continue.
The indicator generates buy/sell signals based on market conditions. A buy signal is generated when the MACD line is below zero, the price is below the lower boundary of the Bollinger Bands, the price is above the 200-period EMA, and the RSI is in oversold levels (usually below 40). A sell signal is generated when the MACD line is above zero, the price is above the upper boundary of the Bollinger Bands, the price is below the 200-period EMA, and the RSI is in overbought levels (usually above 60).
However, it should be noted that indicators can be used to predict market conditions, but they do not guarantee results and any changes or unexpected events in the market can affect predictions. Therefore, they should always be used in conjunction with other analysis methods and risk management strategies.
Waddah Attar Explosion with TDI First of all, a big shoutout to @shayankm, @LazyBear, @Bromley, @Goldminds and @LuxAlgo, the ones that made this script possible.
This is a version of Waddah Attar Explosion with Traders Dynamic Index.
WAE provides volume and volatility information. Also, WAE calculation was changed to a full-on MACD, to provide the momentum: the idea is to "assess" which MACD bars have significant momentum (i.e. crossover the Explosion Line)
TDI provides momentum, divergences as well as overbought and oversold areas. There is also a RSI on a different timeframe, for convergence.
Almost everything is editable:
- All moving averages are customizable, including the TRAMA, from @LuxAlgo
Waddah Attar Explosion_
- Three different crossing signals: histogram crossing contracting Explosion Line, expanding Explosion Line and ascending Explosion Line while both Bolling Bands are expanding; Explosion Line shows different color when expanding.
- Explosion line signals: Below DeadZone line and Exhaustion (highest value in a given lookback period). You can set a predefined EPL slope to filter out some noise.
- Deadzone signal : Deadzone squeeze ( lowst value in a given lookback period)
TDI:
- Overbought an Oversold signals. The OB and OS shapes have two colors, in order to display extreme signals on current timeframe or extreme signals on current and different time frame.
- Visual display of RSI outside the Bollinger Bands, and crossing of RSI Moving Average crossing of zero line.
I believe this combination is great for so many reasons!
Like the idea of TTM Squeeze? You can tune the Deadzone and Explosion lines to look for a volatility breakout
Like trading divergences or want to filter out extreme areas? The RSI is great for that
You like the using the MACD strategy but don't like the amount of false signals given? this WAE version filters some of them out.
If you are a Bollinger bands fan, you can customize both indicators to trade breakouts and/or mean reversion strategies, and filter out exhaustion of the bands expansion
This is my first publication, so give it a go and provide feedback if possible.
Global Net Liquidity - SPX Fair ValueThis is similar to the SPX Fair Value Bands indicator.
It currently only displays the fair value.
The original SPX Fair Value formula only includes the Fed balance sheet data.
This indicator incorporates the following central bank assets:
Fed
Japan
China
UK
ECB
This is currently experimental. Feel free to explore using different formula constants.
Fibonacci Breakout Target LevelsFibonacci Extension
Fibonacci Extension is a powerful technical analysis tool that traders use to predict where the market might find support and resistance. It is based on the Fibonacci sequence and uses levels that are found by extending the 23.6%, 38.2%, 50%, 61.8%, and 100% Fibonacci ratios from a swing high or low. These levels can be used to find possible areas of support and resistance, and traders often use them to figure out when to get into or get out of a trade.
What does this indicator do?
This indicator gets five levels of the Fibonacci Extension and uses it for both the low and the high. The default lookback period is 10 days, and it checks for the highest and lowest price in that period. Then it calculates the extension levels and plots them, and it also adds a line that shows you the current breakout target levels.
How to use?
The primary use intended for this indicator is to be used to determine possible breakout target levels. Let's say you are trading a range and a breakout happens. You can use this indicator to determine possible take-profit zones and possible support and resistance zones.
Features:
Change the lookback period for the Fibonacci Extension levels.
Disable the Fibonacci Bands if you just want to see the FIB levels.
You can also change the 5 levels and add different Fibonacci numbers.
In this image, you can see how you can use this indicator to determine take-profit levels. The Fibonacci Extensions will determine potential support and resistance levels, which could be good places to exit your long or short positions.
Click VWAP Anchored with Standard Devation BandsSimply use it by clicking on your chart on the places you find important to determine whether you entries or exits look strong or weak.
Volume Weighted Exponential Moving Average Suite (VWEMA)This is a volume weighted exponential moving average (EMA) script that allows users to customize various parameters to fit their specific needs.
The script includes four different EMA styles: EMA, DEMA, TEMA, and EHMA. Users can choose which style they would like to use by selecting it in the input field. The script also allows users to customize the length of the EMA, with options for both a maximum and minimum length. Users can also choose to use a manual length or to use the dominant cycle within a range as the length.
In addition to these options, the script also includes the ability to turn on or off volume weighting and a daily reset feature that resets the EMA every day. There is also an option to turn on deviation bands, which show the standard deviation of the selected EMA.
Overall, this script offers a wide range of customization options to help users find the best EMA settings for their needs. It is an advanced tool that can be very helpful for traders looking to optimize their EMA strategy.
Cumulative length instead of cycle length
Double EMA Volume Weighted
Triple EMA Volume Weighted
EHMA Volume Weighted
Higher time frame
Deviation Bands
Nadaraya-Watson: Envelope (Non-Repainting)Due to popular request, this is an envelope implementation of my non-repainting Nadaraya-Watson indicator using the Rational Quadratic Kernel. For more information on this implementation, please refer to the original indicator located here:
What is an Envelope?
In technical analysis, an "envelope" typically refers to a pair of upper and lower bounds that surrounds price action to help characterize extreme overbought and oversold conditions. Envelopes are often derived from a simple moving average (SMA) and are placed at a predefined distance above and below the SMA from which they were generated. However, envelopes do not necessarily need to be derived from a moving average; they can be derived from any estimator, including a kernel estimator such as Nadaraya-Watson.
How to use this indicator?
Overall, this indicator offers a high degree of flexibility, and the location of the envelope's bands can be adjusted by (1) tweaking the parameters for the Rational Quadratic Kernel and (2) adjusting the lookback window for the custom ATR calculation. In a trending market, it is often helpful to use the Nadaraya-Watson estimate line as a floating SR and/or reversal zone. In a ranging market, it is often more convenient to use the two Upper Bands and two Lower Bands as reversal zones.
How are the Upper and Lower bounds calculated?
In this indicator, the Rational Quadratic (RQ) Kernel estimates the price value at each bar in a user-defined lookback window. From this estimation, the upper and lower bounds of the envelope are calculated based on a custom ATR calculated from the kernel estimations for the high, low, and close series, respectively. These calculations are then scaled against a user-defined multiplier, which can be used to further customize the Upper and Lower bounds for a given chart.
How to use Kernel Estimations like this for other indicators?
Kernel Functions are highly underrated, and when calibrated correctly, they have the potential to provide more value than any mundane moving average. For those interested in using non-repainting Kernel Estimations for technical analysis, I have written a Kernel Functions library that makes it easy to access various well-known kernel functions quickly. The Rational Quadratic Kernel is used in this implementation, but one can conveniently swap out other kernels from the library by modifying only a single line of code. For more details and usage examples, please refer to the Kernel Functions library located here:
Variety N-Tuple Moving Averages w/ Variety Stepping [Loxx]Variety N-Tuple Moving Averages w/ Variety Stepping is a moving average indicator that allows you to create 1- 30 tuple moving average types; i.e., Double-MA, Triple-MA, Quadruple-MA, Quintuple-MA, ... N-tuple-MA. This version contains 2 different moving average types. For example, using "50" as the depth will give you Quinquagintuple Moving Average. If you'd like to find the name of the moving average type you create with the depth input with this indicator, you can find a list of tuples here: Tuples extrapolated
Due to the coding required to adapt a moving average to fit into this indicator, additional moving average types will be added as they are created to fit into this unique use case. Since this is a work in process, there will be many future updates of this indicator. For now, you can choose from either EMA or RMA.
This indicator is also considered one of the top 10 forex indicators. See details here: forex-station.com
Additionally, this indicator is a computationally faster, more streamlined version of the following indicators with the addition of 6 stepping functions and 6 different bands/channels types.
STD-Stepped, Variety N-Tuple Moving Averages
STD-Stepped, Variety N-Tuple Moving Averages is the standard deviation stepped/filtered indicator of the following indicator
Last but not least, a big shoutout to @lejmer for his help in formulating a looping solution for this streamlined version. this indicator is speedy even at 50 orders deep. You can find his scripts here: www.tradingview.com
How this works
Step 1: Run factorial calculation on the depth value,
Step 2: Calculate weights of nested moving averages
factorial(depth) / (factorial(depth - k) * factorial(k); where depth is the depth and k is the weight position
Examples of coefficient outputs:
6 Depth: 6 15 20 15 6
7 Depth: 7 21 35 35 21 7
8 Depth: 8 28 56 70 56 28 8
9 Depth: 9 36 34 84 126 126 84 36 9
10 Depth: 10 45 120 210 252 210 120 45 10
11 Depth: 11 55 165 330 462 462 330 165 55 11
12 Depth: 12 66 220 495 792 924 792 495 220 66 12
13 Depth: 13 78 286 715 1287 1716 1716 1287 715 286 78 13
Step 3: Apply coefficient to each moving average
For QEMA, which is 5 depth EMA , the calculation is as follows
ema1 = ta. ema ( src , length)
ema2 = ta. ema (ema1, length)
ema3 = ta. ema (ema2, length)
ema4 = ta. ema (ema3, length)
ema5 = ta. ema (ema4, length)
In this new streamlined version, these MA calculations are packed into an array inside loop so Pine doesn't have to keep all possible series information in memory. This is handled with the following code:
temp = array.get(workarr, k + 1) + alpha * (array.get(workarr, k) - array.get(workarr, k + 1))
array.set(workarr, k + 1, temp)
After we pack the array, we apply the coefficients to derive the NTMA:
qema = 5 * ema1 - 10 * ema2 + 10 * ema3 - 5 * ema4 + ema5
Stepping calculations
First off, you can filter by both price and/or MA output. Both price and MA output can be filtered/stepped in their own way. You'll see two selectors in the input settings. Default is ATR ATR. Here's how stepping works in simple terms: if the price/MA output doesn't move by X deviations, then revert to the price/MA output one bar back.
ATR
The average true range (ATR) is a technical analysis indicator, introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing the entire range of an asset price for that period.
Standard Deviation
Standard deviation is a statistic that measures the dispersion of a dataset relative to its mean and is calculated as the square root of the variance. The standard deviation is calculated as the square root of variance by determining each data point's deviation relative to the mean. If the data points are further from the mean, there is a higher deviation within the data set; thus, the more spread out the data, the higher the standard deviation.
Adaptive Deviation
By definition, the Standard Deviation (STD, also represented by the Greek letter sigma σ or the Latin letter s) is a measure that is used to quantify the amount of variation or dispersion of a set of data values. In technical analysis we usually use it to measure the level of current volatility .
Standard Deviation is based on Simple Moving Average calculation for mean value. This version of standard deviation uses the properties of EMA to calculate what can be called a new type of deviation, and since it is based on EMA , we can call it EMA deviation. And added to that, Perry Kaufman's efficiency ratio is used to make it adaptive (since all EMA type calculations are nearly perfect for adapting).
The difference when compared to standard is significant--not just because of EMA usage, but the efficiency ratio makes it a "bit more logical" in very volatile market conditions.
See how this compares to Standard Devaition here:
Adaptive Deviation
Median Absolute Deviation
The median absolute deviation is a measure of statistical dispersion. Moreover, the MAD is a robust statistic, being more resilient to outliers in a data set than the standard deviation. In the standard deviation, the distances from the mean are squared, so large deviations are weighted more heavily, and thus outliers can heavily influence it. In the MAD, the deviations of a small number of outliers are irrelevant.
Because the MAD is a more robust estimator of scale than the sample variance or standard deviation, it works better with distributions without a mean or variance, such as the Cauchy distribution.
For this indicator, I used a manual recreation of the quantile function in Pine Script. This is so users have a full inside view into how this is calculated.
Efficiency-Ratio Adaptive ATR
Average True Range (ATR) is widely used indicator in many occasions for technical analysis . It is calculated as the RMA of true range. This version adds a "twist": it uses Perry Kaufman's Efficiency Ratio to calculate adaptive true range
See how this compares to ATR here:
ER-Adaptive ATR
Mean Absolute Deviation
The mean absolute deviation (MAD) is a measure of variability that indicates the average distance between observations and their mean. MAD uses the original units of the data, which simplifies interpretation. Larger values signify that the data points spread out further from the average. Conversely, lower values correspond to data points bunching closer to it. The mean absolute deviation is also known as the mean deviation and average absolute deviation.
This definition of the mean absolute deviation sounds similar to the standard deviation (SD). While both measure variability, they have different calculations. In recent years, some proponents of MAD have suggested that it replace the SD as the primary measure because it is a simpler concept that better fits real life.
For Pine Coders, this is equivalent of using ta.dev()
Bands/Channels
See the information above for how bands/channels are calculated. After the one of the above deviations is calculated, the channels are calculated as output +/- deviation * multiplier
Signals
Green is uptrend, red is downtrend, yellow "L" signal is Long, fuchsia "S" signal is short.
Included:
Alerts
Loxx's Expanded Source Types
Bar coloring
Signals
6 bands/channels types
6 stepping types
Related indicators
3-Pole Super Smoother w/ EMA-Deviation-Corrected Stepping
STD-Stepped Fast Cosine Transform Moving Average
ATR-Stepped PDF MA
Refracted EMARefracted EMA is a price based indicator with bands that is built on moving average.
The price range between the bands directly depends on relationship of Average True Range to Moving Average. This gives us very valuable variable constant that changes with the market moves.
So the bands expand and contract due to changes in volatility of the market, which makes this tool very flexible exposing psychological levels.
Variety-Filtered, Squeeze Moving Averages [Loxx]Variety-Filtered, Squeeze Moving Averages is a chop zone indicator that identifies when price is below a specific volatility threshold calculated as the difference between a fast and slow moving average and filtered using ATR- or Pips-based threshold. This indicator can be use as both an entry and exit indicator. It identifies both chop zones and breakouts/breakdowns
How to use
When the candles turn white and the threshold bands appear on the chart, this is indicative of low volatility
When price exits the threshold bands, price will usually explode up or down giving a long or short signal. This acts as a sort of squeeze momentum.
Included:
Bar coloring
Signals
Alerts, 4 types of alerts: Squeeze started, Squeeze ended, long, and short
Loxx's Expanded Source Types
35+ Loxx's Moving Averages
God Number Channel v2(GNC v2)GNC got a little update:
1) Logic changed a bit.
I tried to calculate MAs based on the power(high - low of previous bars).You can see it the M-variables, as new statements were added in calculation section of MAs. I don't really know if I did right, because I didn't go too much in Pine Script. I just wanted to make a Bollinger-bands-like bands, which could predict the levels at which might reverse, using legendary fibonacci and Tesla's harmonic number 432. It's might sound as a joke, but as you can see, it works pretty good.
2) Customization :
No need to change Fibonacci ratios in code. Now you can do it in the GNC settings. Also MAs' names were made obvious, just check it out. Time of million similar "MA n1" has passed :)
3) Trade-entry advices :
I didn't tell you exactly the trade-entry advices, as I haven't explored this script fully yet :) But you probably understood something intuitively, when added GNC on the chart. Now I made things way more obvious:
1. Zones between Fib ratios show you how aware you should be of price movements. Basically, here are the rules, but you probably understand them already:
1.1 Red zone(RZ) : high awareness, very likly for price to be reversed, but if there is a clear trend and you know, than it might be a time for price to shoot up/down.
1.2 Orange zone(OZ) : medium awareness, not so obvious, as price might go between boundaries of OZ and continue the trend movement if such followed before entering the OZ. If price go below lower boundary of OZ and the next bar opens below this boundary, it might be a signal for SHORY, BUT(!) please consider confirmation of any sort to be more sure. Think of going beyond the upper boundary by analogy.
1.3 Green Zone(GZ) : if the price hits any boundary of green zone, it is usually a good oppurtunity to open a position against the movement(hit lower boundary -> open LONG, hit upper boundary -> open SHORT).
1.4 Middle Zone(Harmonic Zone)(MZ) : same rules from Green Zone.
IMPORTANT RECCOMENDATION : Use trend indicator to trend all signals from zones to follow the trend, 'cause counter-trending with this thing without stop loss might very quickly wipe you out , might if you will counter-trend strategy with GNC, I will be glad if you share it with the community :)
Reccomendation for better entries :
1) if the price hits the lower(or high) boundaries(LB or HB) zone after zone(hit LB or HB of RZ, then of OZ, then of GZ), it is a very good signal to either LONG, if price was hitting LBs , or SHORT, if hitting HBs .
2) Consider NOT to place trades when in MZ, as price in this zone gets tricky often enough. By the way, if you dont the see the harmonic MAs(which go with plot(ma1+(0.432*avg1)) ), then set the transparency of zone to 20% or a bit more and then it will be ok.
I will continue to develop the GNC and any help or feedback from you, guys, will be very helpful for me, so you welcome for any of those, but please be precise in your critics.
Thank you for using my stuff, hope you found it usefull. Good luck :)
DELAYED FIBOfibo delayed and real value wave design. Burada bandlar arası dalgalanmadan faydalanılmakta.
All-in-one CPR indicator Introduction and Acknowledgement:
The script is basically a mashup script and provides a combined functionality of various indicators. I'll explain the usefulness and the optimal usage of the script after giving the credits where it is due. A CPR indicator for visually identifying the trend along with the strength of the trend is NOT available in the public library of TradingView. Hence, the need of this indicator.
The credit of creating the original indicators remain unknown to me but I would like to acknowledge the authors whose formulae and codes I have used for creating this mashup indicator.
- Frank Ochoa
- Guruprasad Meduri
- Rafael Zioni
- Stoked Stocks
- Pine team for default indicators
The prime focus of the script is identifying and simplifying the 2 main aspects of a trend:
1. Direction / Underlying trend
2. Strength of the trend
Flaws in traditional CPR:
Some may see this as a flaw, some may not. So take my opinion with a grain of salt. In general, the traditional CPR indicator is used to plot just support and resistance levels, and the trend identification is purely discretionary. In addition to this, there is no way to assess the strength of the move without using a dedicated volumed based indicator. This causes amateur traders to take counter trades to the market direction.
What is the need of this hybrid indicator?
A CPR indicator that also aids in visually identifying the trend and the strength of the trend with respect to the price action in NOT available in the public library of TradingView. The traditional CPR can be used to assess the rough direction of the market but if it combined with the Hull ribbon, the probability of identifying the trend increases manifold. Hence, I decided to create this mashup indicator.
In addition to the basic CPR pivots, the script provides the functionality of the following indicators:
1. HMA based trend ribbons with auto buy/sell signals
2. Volatility based bands - Bollinger bands, Keltner channel, Donchian channel, envelope.
3. Coloured volume candles to determine the strength of the trend
4. CPR with daily, weekly, and monthly levels
5. Previous day high/low
6. Tomorrow CPR
7. 3 Simple moving averages
8. Volume Weighted Average Price (VWAP)
Correct usage of the indicator:
The optimal usage of the indicators consists of mainly 2 parts:
1. Identification of the trend using the combination of CPR and Hull ribbon
2. Determining the strength of the trend
How to identify the trend?
In general, when the price is above CPR it is considered a bullish trend. Also, when the price is above the Hull ribbon, it is considered bullish. Reverse is true for a bearish trend. Combining the traditional CPR logic with the Hull trend ribbon, we can conclude that:
1. Bullish trend = Price above CPR and above the Hull ribbon
2. Bearish trend = Price below CPR and below the Hull ribbon
If the Hull ribbon is showing a zig-zag move, the trend will be sideways. Also, the time frame of the Hull ribbon can be defined as per the need of the user.
Exhibit: Identification of a bullish trend
Exhibit: Identification of a bullish trend with a contra move (pullback)
Exhibit: Identification of a bearish trend
Exhibit: Identification of a bearish trend with a contra move (pullback)
How to determine the strength of the trend?
1. Strong trend = The dark coloured candles represent volume more than 150% of the look back period. For instance
2. Moderate trend = The bright coloured candles represent volume between 50-150%.
3. Neutral trend = The Grey coloured candles represent a weak trend where the volume is less than 50%.
Exhibit: Identification of a strong bearish trend along with the trend direction
Exhibit: Identification of a strong bullish trend using only coloured candles
All the other indicators including the SMA, VWAP, Bollinger bands, Keltner channels, etc. can be used as per the taste of the trader.
Thanks for reading! I hope you find this indicator useful.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
TL WavesI created this indicator inspired by the miyuki waves indicator by eto_miyuki. In my indicator we have 17 types of moving averages which can be selected in the settings.
It is a trend indicator, the base of the wave is a moving average and 4 Average True Range (ATR) Bands derived from the baseline are formed.
There are also 3 moving averages in a guppy style, these 3 moving averages can also be configured.
The moving average options are:
SMA ---> Simple
WMA ---> Weighted
VWMA ---> Volume Weighted
EMA ---> Exponential
DEMA ---> Double EMA
ALMA ---> Arnaud Legoux
HMA ---> Hull MA
SMMA ---> Smoothed
LSMA ---> Least Squares
KAMA ---> Kaufman Adaptive
TEMA ---> Triple EMA
ZLEMA ---> Zero Lag
FRAMA ---> Fractal Adaptive
VIDYA ---> Variable Index Dynamic Average
JMA ---> Jurik Moving Average
T3 ---> Tillson
TRIMA ---> Triangular
All settings are available for changing inputs.
[blackcat] L1 Pawel Kosinski BB with CandlesLevel 1
Background
In Traders’ Tips of October 2019, the focus is Pawel Kosinski’s article : “Combining Bollinger Bands With Candlesticks”
Function
In “Combining Bollinger Bands With Candlesticks” in this issue, author Pawel Kosinski introduces us to a trading indicator that combines standard Bollinger Bands with the bullish engulfing candlestick pattern. Along the way we get a glimpse into the author’s process for trading strategy design and testing.
Remarks
Feedbacks are appreciated.
Root mean squared error range (RMSER)Similarly to Bollinger bands, the RMSER gives a support and resistance areas for the trading price. Unlike bollinger bands, which use standard deviation, this support and resistance is calculated with 2 * the root mean squared error away from the moving average. This works very well with indices, like $SPX, and prices only fall outside the range during black swan events like the 2020 crash.
wnG - VWAP MOD Modified version of VWAP :
Classic VWAP with 6 levels based on the Average True Range to identify the distance and distribution of the prices around the VWAP.
There are 2 calcul methodologies for the bands
- Last 24 Hours Average True Range
- Progressive Average True Range starting from 00:00
As prices tend to move around the VWAP level, favor LONG positions in the GREEN ZONE (and SHORT in the RED ZONE).
How to use it :
Avoid taking long position when price is in the RED ZONE
Avoid taking short position when price is in the GREEN ZONE
==> Adjust the settings depending on your timeframe and asset
multiple_ma_envelope
Description:
Moving Average is a well-known though simple technical analysis tool, that can be applied in most trading journeys. By adding an envelope (a certain amount above and below the moving averages, cited from Investopedia), the indicator aligned its aim to identify the reversal area i.e. when the price reaches the envelopes, the price tends to have a reverse. In this indicator, the improvement is by adding multiple envelopes at once, thus can identify the further phase of the reverse area when the price apparently continues current direction.
Upper Band = MA * (1 + %envelope)
Lower Band = MA * (1 - %envelope)
Notes:
1). In this indicator, the default value of the moving average utilized is set to 10, 20, 50, 100 respectively
2). The band initial value is set to 0.2, and increases by 0.2 for each increasing MA Length
Feature:
1). Multiple Moving Average Envelope
2). Information Table as displayed Rolling Deviation, Rolling Maximum Drawdown, and Value-at-Risk
