Intraday Volume### Intraday Volume Indicator Explanation
--- this was Mostly created by OpenAI ChatGPT --- it's pretty good!
--- My Commentary: One of the problems I find is with Volume is - it is skewed by the overwhelming volume around the Open and Close. So, as an experiment, I asked ChatGPT to create an indicator to plot the volume everywhere BUT the open.
I added in the CandleColor() function and set the times.
I also changed the Intraday Volume calculation from Cumulative to live.
still Chat GPT - did about 90% of the heavy lift! And, wrote the summary !
----
The "Intraday Volume" indicator is a custom script designed for use on the TradingView platform. It provides a visual representation of the total accumulated trading volume during the intraday trading session, specifically between the market open and close times. Below is a detailed explanation of its functionality:
#### **Key Features:**
1. **Session Times:**
- The indicator defines the intraday session as the period between 9:30 AM EST (market open) and 4:00 PM EST (market close).
- It uses the `timestamp` function to set these times dynamically for each trading day.
2. **Intraday Volume Calculation:**
- During the defined intraday session, the indicator accumulates the trading volume from each bar (candlestick).
- Outside the intraday session, the volume is reset to `na` (not available) to ensure only intraday data is plotted.
3. **Plotting the Volume:**
- The accumulated intraday volume is plotted as a blue column chart in a separate pane below the price chart.
- This provides a clear visualization of how the trading volume evolves throughout the trading session.
4. **Horizontal Reference Line:**
- A horizontal line is added at zero as a visual reference, making it easier to interpret the volume data.
#### **Use Cases:**
- **Volume Analysis:**
- Traders can use the indicator to identify periods of high or low trading activity during the intraday session.
- Peaks in the volume chart may correspond to key market events, such as news releases or significant price movements.
- **Trend Confirmation:**
- Comparing intraday volume with price action can help traders confirm the strength of a trend or the likelihood of a reversal.
- **Custom Time Frames:**
- Although this script is tailored for regular U.S. market hours, it can be adapted for other markets or time zones by modifying the session times.
#### **Customization:**
- **Colors and Styles:**
- The plot color (blue) and style (columns) can be customized to suit user preferences.
- **Session Times:**
- Users can change the session start and end times to match their trading needs or regional market hours.
This indicator is especially useful for intraday traders seeking insights into trading volume dynamics within the trading day. By visualizing the intraday volume, traders can gain a deeper understanding of market behavior and make informed decisions.
ابحث في النصوص البرمجية عن "horizontal line"
Custom RSI & MACD Momentum Entry SignalsIndicator Explanation: Custom RSI & MACD Momentum Entry Signals
Introduction
The "Custom RSI & MACD Momentum Entry Signals" indicator combines the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) to generate precise long and short entry signals. This indicator offers a powerful combination of overbought/oversold zones, momentum analysis, and RSI-EMA crossovers to assist traders in making better decisions.
How the Indicator Works
1. RSI Calculation and EMA
The RSI is calculated based on the closing price with an adjustable period (default: 14).
An Exponential Moving Average (EMA) of the RSI (default: 9) is plotted to identify RSI trend changes.
When the RSI crosses its EMA upwards, it signals a bullish impulse. Conversely, a downward cross indicates a bearish impulse.
2. MACD Calculation and Momentum Shifts
The MACD line is derived from the difference between a fast EMA (default: 12) and a slow EMA (default: 26).
The Signal line is the EMA of the MACD line (default: 9).
The MACD histogram represents the difference between the MACD line and the Signal line.
Momentum shifts are detected as follows:
Weakening Bearish: Histogram is negative but increasing (less bearish pressure).
Strengthening Bullish: Histogram is positive and rising.
Weakening Bullish: Histogram is positive but decreasing.
Strengthening Bearish: Histogram is negative and falling.
Signal Generation
Long Signals
A Long signal is triggered when all of the following conditions are met:
The RSI was previously below 30 (oversold condition).
MACD momentum shifts from "strengthening bearish" to "weakening bearish" or turns bullish.
The RSI crosses its EMA upwards.
A green upward arrow is displayed below the bar, and the background is lightly shaded green for additional visualization.
Short Signals
A Short signal is triggered when all of the following conditions are met:
The RSI was previously above 70 (overbought condition).
MACD momentum shifts from "strengthening bullish" to "weakening bullish" or turns bearish.
The RSI crosses its EMA downwards.
A red downward arrow is displayed above the bar, and the background is lightly shaded red for additional visualization.
Visual Elements
RSI and EMA:
The RSI is shown in purple.
The RSI EMA is shown in blue.
Horizontal lines at 30 (oversold) and 70 (overbought) provide additional context.
MACD:
The MACD line is displayed in blue.
The Signal line is displayed in orange.
The zero line is added for easier interpretation.
Signals:
Green arrows: Long signals.
Red arrows: Short signals.
Background color: Light green for long conditions, light red for short conditions.
Use Cases
This indicator is ideal for:
Trend Followers: Combining RSI and MACD allows traders to identify entry points during impulsive trend shifts.
Swing Traders: Long and short signals can be used at reversal points to capture short-term price movements.
Momentum Traders: By considering MACD momentum, the indicator provides additional confidence in signal generation.
Customizable Settings
The indicator provides flexible input options:
RSI Period (default: 14)
RSI EMA Period (default: 9)
MACD Parameters: Fast, slow, and signal EMAs can be adjusted.
Conclusion
The Custom RSI & MACD Momentum Entry Signals indicator is a powerful tool for traders looking to combine RSI and MACD to identify high-probability entry signals. With clear visualization and precise signal generation, traders can make decisions more efficiently and capitalize on market movements.
Multi-Period CorrelationDescription:
The “Correlation Coefficient - Multi Periods” indicator allows you to analyze the correlation between the price of the chart’s asset and another specified asset across multiple time periods simultaneously. It provides a visual representation of how closely the two assets move in relation to each other over user-defined lengths, helping traders and analysts identify relationships, diversification opportunities, and potential hedging strategies.
Features:
• Multi-Period Correlation: Input multiple periods (e.g., 20, 50, 100) to see correlations across different timeframes on the same chart.
• Customizable Asset: Choose any symbol to compare against the current asset.
• Dynamic Visualization: Each correlation is plotted with a unique color for easy distinction.
• Validation: Warns the user if invalid inputs are provided for the lengths, ensuring accuracy.
• Reference Lines: Horizontal lines at 1, 0, and -1 for quick interpretation:
• 1: Perfect positive correlation.
• 0: No correlation.
• -1: Perfect negative correlation.
Use Cases:
• Portfolio Analysis: Evaluate how an asset correlates with another to assess diversification.
• Market Analysis: Identify trends and relationships between stocks, indices, or other financial instruments.
• Risk Management: Understand correlation to optimize hedging strategies and reduce portfolio risk.
This indicator is ideal for traders and investors seeking to make informed decisions by understanding inter-market relationships and their dynamics over time.
Top-Down Analysis previous day Top-Down Analysis 2nd Candle with Enhanced Features
This powerful TradingView script is designed for traders looking for a comprehensive and customizable top-down analysis tool. The indicator plots horizontal lines based on significant price levels from multiple timeframes (Daily, 4-Hour, 1-Hour, and Weekly), offering clear reference points for technical analysis. Each timeframe is associated with high and low levels from the previous candle, and these levels are represented with customizable line styles, colors, and widths.
Key Features:
Multi-Timeframe Support: Displays high and low levels from the previous candle for the Daily, 4-Hour, 1-Hour, and Weekly timeframes. Customize which timeframes to show.
Customizable Line Appearance: Choose the line color, style (solid, dotted, dashed), and width for each timeframe. This allows for a personalized chart appearance to suit your trading strategy.
Text Labels: Add custom text labels to each line, and move them dynamically to the right, keeping them visible as the candles progress. The labels can be customized with user-defined text for each timeframe’s high and low levels.
Toggle Line Visibility: Easily control the visibility of the horizontal lines and their labels for each timeframe, allowing you to focus on the levels that matter most.
Price Alerts: Set price alerts when the price crosses any of the plotted levels, including the Daily, 4-Hour, 1-Hour, and Weekly levels. Receive notifications when significant price interactions occur.
User Control: With inputs for changing timeframes, colors, labels, and more, this indicator is fully customizable to fit your trading style.
This indicator is ideal for day traders, swing traders, and anyone utilizing multi-timeframe analysis for more informed decision-making.
Non-Psychological Levels🟩 Non-Psychological Levels is a structural analysis tool that segments price action into objective ranges, identifying Broken and Unbroken levels without relying on psychological or time-based assumptions. By emphasizing mechanically derived price behavior, it provides traders with a clear framework for analyzing support and resistance in a consistent and unbiased manner across various market conditions.
This indicator introduces a new approach to understanding market structure by focusing on price movement within defined segments, free from behavioral patterns, round numbers, or specific time intervals. While the indicator is time-agnostic in design, it works within the natural time progression of the chart, ensuring that segmentation aligns with the inherent structure of price movement. Broken levels, where price has breached a structural boundary, and Unbroken levels, which remain intact, are visualized with horizontal lines. These structural zones are complemented by dynamically boxed segments that contextualize both historical and ongoing price behavior.
By offering an objective perspective, the Non-Psychological Levels indicator complements psychology-based tools, helping traders explore market dynamics from multiple angles. When structural levels align with psychological zones, they reinforce critical price areas; when they differ, they provide opportunities to analyze price behavior from an alternative lens. This indicator is designed as both an educational framework and a practical tool, encouraging a deeper understanding of structural price behavior in technical analysis.
⭕ THEORY AND CONCEPT ⭕
The Non-Psychological Levels indicator is grounded in the principle of analyzing price behavior without reliance on psychological assumptions or time-based factors. Its primary purpose is to provide a structural framework for identifying support and resistance levels by focusing solely on price movement within mechanically defined segments. By removing external influences such as sentiment, time intervals, or market sessions, the indicator offers an unbiased lens through which traders can observe price dynamics.
Non-psychology, as defined here, refers to an approach that excludes behavioral and emotional patterns—like fear, greed, or herd mentality—from price analysis. Traditional tools often depend on these patterns to identify zones such as pivots or Fibonacci retracements, but these methods can be inconsistent in volatile markets. In contrast, the Non-Psychological Levels indicator focuses entirely on what price is doing, free from assumptions about trader behavior or external time constraints.
The indicator’s time-agnostic and mechanically driven design segments price action into consistent ranges, highlighting "Broken" levels (where price breaches structural boundaries) and "Unbroken" levels (where price holds). These structural zones remain unaffected by subjective or external influences, ensuring clarity and consistency across different markets and timeframes. By doing so, the indicator reveals a pure view of price structure, independent of psychological biases.
Importantly, the Non-Psychological Levels indicator is not intended to replace psychology-based tools but to complement them. When its structural levels align with psychological zones like round numbers or session highs/lows, the significance of these areas is reinforced. Conversely, when the levels differ, the contrast provides traders with alternative insights into market dynamics. This dual perspective—blending mechanical objectivity with behavioral analysis—enhances the depth and flexibility of market evaluation.
The following principles outline the theoretical foundation of the indicator and its unique contribution to structural price analysis:
Time-Agnostic Design : The indicator avoids reliance on time-based factors like daily opens, session intervals, or specific events. Instead, it segments price action using bar indexes, ensuring that structural levels are identified independently of external time variables. While the x-axis of a chart inherently represents time, this indicator abstracts away its influence, allowing traders to focus purely on price movement without the bias of temporal context.
Mechanical and Neutral Framework : Every calculation within the indicator is predetermined by a set of mechanical rules, ensuring no subjective input or interpretation affects the results. This objectivity guarantees that levels are derived solely from observed price behavior, providing a reliable framework that traders can trust to remain consistent across different assets, timeframes, and market conditions.
Broken and Unbroken Levels : Broken levels represent zones where price has breached a structural boundary, while Unbroken levels highlight areas where price has consistently respected its range. This distinction provides a clear and systematic method for identifying key support and resistance levels, offering insights into where future price interactions are most likely to occur.
Neutral Price Behavior : By dividing price action into equal segments, the indicator removes the influence of external factors like trader sentiment or psychological expectations. Each segment independently determines significant levels based purely on price action, enabling a structural view of the market that abstracts away behavioral or emotional biases.
Complement to Psychological Tools : While the indicator itself avoids behavioral assumptions, its levels can align with psychological zones like round numbers, pivots, or Fibonacci levels. When these structural and psychological levels overlap, it reinforces the importance of key areas, while divergences offer opportunities to examine price behavior from a new perspective.
Educational Value : The indicator encourages traders to explore the contrast between structural and psychological analysis. By introducing a framework that isolates price behavior from external influences, it challenges traditional methods of technical analysis, fostering deeper insights into market structure and behavior.
🔍 UNDERSTANDING STRUCTURAL LEVELS 🔍
The Non-Psychological Levels indicator offers a straightforward yet powerful way to understand market structure by segmenting price action into mechanically defined ranges. This segmentation highlights two key elements: "Broken" levels, where price has breached structural boundaries, and "Unbroken" levels, which remain intact and respected by price action. Together, these components create a framework for identifying potential areas of support and resistance.
Broken Levels : These are structural boundaries that price has surpassed, indicating areas where previous support or resistance failed. Broken levels often signal transitions in price behavior, such as shifts in momentum or the start of trending movements. They provide insight into zones where price has already tested and moved beyond.
Unbroken Levels : These levels remain intact within a given price segment, marking areas where price has consistently respected boundaries. Unbroken levels are particularly useful for identifying potential reversal points or zones of continued support or resistance. Their persistence across price action often makes them reliable indicators of market structure.
The visual segmentation of price action into distinct ranges allows traders to observe how price transitions between structural zones. For example:
- Clusters of Unbroken levels near the current price may suggest strong support or resistance, offering areas of interest for reversals or breakouts.
- Gaps between Unbroken levels highlight areas of price inefficiency or low interaction, which may become significant if revisited.
By focusing solely on structural price behavior, the Non-Psychological Levels indicator enables traders to analyze price independently of time or psychological factors. This makes it a valuable tool for understanding price dynamics objectively, whether used on its own or alongside other indicators.
🛠️ SETTINGS 🛠️
The Non-Psychological Levels indicator offers various customizable settings to help users tailor its visualization to their specific trading style and market conditions. These settings allow adjustments to sensitivity, level projection, and the source of price calculations (e.g., wicks or closing prices). Below, we outline each setting and its impact on the chart, along with examples to illustrate their functionality.
Custom Settings
Sensitivity : This setting adjusts the balance between detailed and broader structural levels by controlling the number of segments. Higher values result in more segments, revealing finer price levels, while lower values consolidate segments to highlight major price movements.
Source : Allows the user to choose between 'Wick' or 'Close' for detecting levels. Selecting 'Wick' emphasizes the absolute highs and lows of price action, while 'Close' focuses on closing prices within each segment.
Level Labels : Configures the visual representation of price levels, allowing users to toggle between price values, symbols (▲ ▼), or disabling labels altogether. This setting ensures clarity in how Broken and Unbroken levels are displayed on the chart.
Unbroken Levels : - - - Users can customize the colors and label styles for Unbroken levels, which highlight areas where price has respected structural boundaries.
Broken Levels : -|- Similar to Unbroken levels, users can specify the visual appearance of Broken levels, including color customization for Broken highs and lows. These settings help distinguish areas where price has breached a structural boundary.
Projection Options : This setting allows users to control how broken and unbroken levels are visually extended on the chart. The Future option projects lines forward to the right of the current price, showing potential future relevance of levels. The All option extends lines both forward and backward, providing a comprehensive view of how levels align with historical and potential future price action. The None option disables projections, keeping the chart focused solely on current segment levels without any extensions.
Segments : Includes options for customizing the segment visualization:
- Live Segment : Toggles the display of a highlighted box representing the current developing segment, helping users focus on ongoing price action.
- Boxes : Allows users to display filled boxes around each segment for additional visual emphasis.
- Segment Colors : Users can define separate colors for support (lower) and resistance (upper) segments, making it easier to interpret directional trends.
- Boundaries : Enables or disables vertical lines to mark segment boundaries, providing a clearer view of structural divisions.
Repaint : This setting allows users to enable or disable triangle labels within the live segment. When enabled, the triangles dynamically update to reflect real-time price behavior during the live bar but will repaint until the bar is fully confirmed. Disabling this option prevents the triangles from appearing during the live bar, reducing potential confusion as they may otherwise flash on and off during price updates. This setting ensures users can choose their preferred visualization while maintaining clarity in real-time analysis.
Color Settings : Offers extensive customization for all visual elements, including Broken and Unbroken levels, segment boundaries, and live segments. These settings ensure the indicator can adapt to individual preferences for chart readability.
🖼️ CHART EXAMPLES 🖼️
The following chart examples illustrate different configurations and features of the Non-Psychological Levels indicator. These examples highlight how the indicator’s settings influence the visualization of structural price behavior, helping traders understand its functionality in various scenarios.
Broken and Unbroken Levels : Orange prices are Broken HIghs. Blue prices are Broken Lows. Green and Red are Unbroken.
Boundaries : Enable Boundaries to visualize segments.
High Sensitivity Setting : A high sensitivity setting produces fewer segments and levels, emphasizing broader price ranges and major structural zones. This configuration is better suited for higher timeframes or identifying overarching trends.
Low Sensitivity Setting : A low sensitivity setting results in a greater number of segments and levels, offering a granular view of price structure. This configuration is ideal for analyzing detailed price movements on lower timeframes.
Live Segment with Triangles Enabled : This example shows the live segment box with triangle labels enabled. These triangles update dynamically during the live bar but may repaint until the bar is confirmed, helping traders observe real-time price behavior.
Broken and Unbroken Levels : This example highlights Broken levels (where price has breached structural boundaries and are drawn through subsequent price action) and Unbroken levels (where price has respected structural boundaries). These distinctions visually identify areas of potential support and resistance.
Broken and Unbroken Levels with Projection: All : This example demonstrates the "Project All" feature, where broken and unbroken levels are extended both forward and backward on the chart. This visualization highlights historical and potential future support and resistance zones, helping traders better understand how price interacts with these structural levels over time.
Segment Boxes with Boundaries : Filled boxes around individual segments visually distinguish each price interval, offering clarity in observing structural price transitions.
📊 SUMMARY 📊
The Non-Psychological Levels indicator provides a unique framework for analyzing structural price behavior through the identification of Broken and Unbroken levels. These levels act as a mechanical representation of support and resistance, independent of psychological biases or time-based factors. By focusing purely on price movement within defined segments, the indicator offers a neutral and consistent approach to understanding market dynamics.
This method complements traditional tools by providing an unbiased perspective. When structural levels align with psychological zones—such as round numbers or session-based highs and lows—they reinforce the significance of these areas as key price zones. When they diverge, the indicator introduces an alternative view, prompting further exploration of price behavior. This dual perspective enhances the depth of analysis by combining the mechanical and behavioral aspects of price action.
The Non-Psychological Levels indicator is not designed to generate trading signals or predict future price movements but serves as a visual and educational tool. Its adaptability across all markets and timeframes allows traders to integrate it into their broader strategies. By highlighting structural price dynamics, the indicator offers a fresh perspective on market analysis while remaining compatible with other technical tools.
⚙️ COMPATIBILITY AND LIMITATIONS ⚙️
Asset Compatibility :
The Non-Psychological Levels indicator is compatible with all asset classes, including cryptocurrencies, forex, stocks, and commodities. It can be applied to any chart or timeframe, making it a flexible tool for structural price analysis. Users should adjust the Sensitivity setting to ensure the segmentation aligns with the price behavior of the specific asset being analyzed. For instance, higher sensitivity values are more suitable for assets with large price ranges, while lower values work well for assets with tighter ranges.
Visual Range Dependency :
The indicator is optimized to perform calculations only within the visible range of the chart. This is a significant advantage, as it prevents unnecessary calculations and maintains efficient performance. However, because of this dependency, levels may appear to "recalculate" when the chart is zoomed in or out quickly or shifted abruptly. While this does not affect the integrity of the levels, it may cause a temporary lag as the indicator adjusts to the new visual range.
Persistence of Levels Beyond Visibility :
Even if levels are not visible on the chart due to zoom or scroll settings, they still exist in the background and are recalculated when revisited. This ensures that the structural price analysis remains consistent, regardless of the chart view.
Box Limitations in Pine Script :
The indicator is subject to Pine Script's inherent limitation of 500 boxes. This means that no more than 500 segments or level boxes can be drawn on the chart simultaneously. For most configurations, this limitation is mitigated by focusing on the visual range, but users employing very low sensitivity settings may exceed the limit. In such cases, only the most recent 500 boxes will be displayed, potentially omitting earlier segments.
Lag with Low Sensitivity Settings :
When sensitivity is set to a low value, the indicator creates many more segments, resulting in finer granularity and a higher number of boxes. While this provides detailed structural levels, it may increase the likelihood of exceeding Pine Script’s 500-box limit or cause a temporary lag when rendering a dense set of boxes over a wide visual range. Users should adjust sensitivity to balance detail with performance, especially on assets with high volatility or broad price ranges.
Live Segment Caution :
The live segment box updates in real time to reflect price movements as the segment is still developing. Since the segment high and segment low are not yet finalized, users should interpret this feature as a dynamic visualization of current price behavior rather than a definitive structural analysis. This ensures clarity during ongoing price action while maintaining the integrity of the indicator's framework.
Cross-Market Versatility :
The indicator’s time-agnostic and mechanical design ensures that it functions identically across all markets and timeframes. However, users should consider the unique characteristics of different markets when interpreting the results, as certain assets (e.g., highly volatile cryptocurrencies) may require sensitivity adjustments for optimal segmentation.
Visual Range Dependency: Levels recalculate efficiently within the chart's visible range but may lag temporarily when zooming or scrolling quickly.
These considerations ensure that the Non-Psychological Levels indicator remains robust and versatile while highlighting some inherent limitations of Pine Script and real-time recalculations. Users can mitigate these constraints by carefully adjusting sensitivity and understanding how the visual range dependency affects performance.
⚠️ DISCLAIMER ⚠️
The Non-Psychological Levels indicator is a visual analysis tool and is not designed as a predictive or trading signal indicator. Its primary purpose is to highlight structural price levels, providing an objective framework for understanding support and resistance within mechanically segmented price action.
The indicator operates within the visible range of the chart to ensure efficiency and adaptiveness, but this recalculation should not be interpreted as a forecast of future price behavior. While the structural levels may align with significant price zones in hindsight, they are purely a reflection of observed price dynamics and should not be used as standalone trading signals.
This indicator is intended as an educational and visual aid to complement other analysis methods. Users are encouraged to integrate it into a broader trading strategy and make adjustments to the settings based on their individual needs and market conditions.
🧠 BEYOND THE CODE 🧠
The Non-Psychological Levels indicator, like other xxattaxx indicators , is designed with education and community collaboration in mind. Its open-source nature encourages exploration, experimentation, and the development of new approaches to price analysis. By focusing on structural price behavior rather than psychological or time-based factors, this indicator introduces a fresh perspective for users to study.
Beyond its visual utility, the indicator serves as an educational framework for understanding the concept of non-psychological analysis. It offers traders an opportunity to explore price dynamics in a purely mechanical way, challenging conventional methods and fostering deeper insights into structural behavior. This approach is especially valuable for those interested in exploring new concepts or seeking alternative perspectives on market analysis.
Your comments, suggestions, and discussions are invaluable in shaping the future of this project. We actively encourage your feedback and contributions, which will directly help us refine and improve the Non-Psychological Levels indicator. We look forward to seeing the creative ways in which you use and enhance this tool. MVS
XRP Comparative Price Action Indicator - Final VersionXRP Comparative Price Action Indicator - Final Version
The XRP Comparative Price Action Indicator provides a comprehensive visual analysis of XRP’s price movements relative to key cryptocurrencies and market indices. This indicator normalises price data across various assets, allowing traders and investors to assess XRP’s performance against its peers and major market influences at a glance.
Key Features:
• Normalised Price Data: Prices are scaled between 0.00 and 1.00,
enabling straightforward comparisons between different assets.
• Key Comparisons: Includes normalised prices for:
• XRP/USD (Bitstamp)
• XRP Dominance (CryptoCap)
• XRP/BTC (Bitstamp)
• BTC/USD (Bitstamp)
• BTC Dominance (CryptoCap)
• USDT Dominance (CryptoCap)
• S&P 500 (SPY)
• DXY (Dollar Index)
• ETH/USD (Bitstamp)
• ETH Dominance (CryptoCap)
• XRP/ETH (Binance)
• Visual Clarity: Each asset is plotted with distinct colors for easy identification,
with thicker lines enhancing visibility on the chart.
• Reference Lines: Optional horizontal lines indicate the minimum (0) and maximum (1) normalised values, providing clear reference points for analysis.
This indicator is ideal for traders looking to understand XRP’s relative performance, gauge market sentiment, and make informed trading decisions based on comparative price action.
First 1-Minute Candle High/Low After Specific TimeDescription:
This indicator captures and marks the high and low of the first 1-minute candle after a specified time (default: 9:30 AM) and tracks the highs and lows of the first five candles. The levels marked by these initial candles are often critical in determining early session support and resistance, providing a visual guide for traders monitoring price action in the opening minutes of a trading session.
Key Features and Usage
1-Minute Candle High/Low: The indicator captures the high and low of the first 1-minute candle after the specified session start time. This level is marked with horizontal lines and labels, providing traders with an immediate reference for early-session price extremes.
5-Candle Range High/Low: After the first five candles, the indicator also highlights the highest and lowest levels within this range, offering additional support/resistance lines to aid in understanding early price movements.
Custom Labels and Dynamic Line Extension:
Labels update dynamically and display whether the 1-minute high/low coincides with the 5-minute range high/low, combining these labels if they match.
Horizontal lines extend to the current bar to remain visible throughout the session for consistent reference.
Customization Options
Colors and Label Text: Users can adjust colors for the 1-minute and 5-minute high/low lines and the label text for optimal readability.
Label Position Offset: Labels are placed slightly above or below their respective lines to avoid overlap with price action, maintaining clarity on the chart.
Intended Use
This indicator is especially useful for intraday traders focusing on opening range breakout strategies, scalping, or short-term trend analysis. It is intended for use on intraday charts (such as 1-minute or 5-minute intervals) and provides straightforward levels to assess early market structure.
Technical Details
Customization of Start Time: Users can change the default start time to any desired session opening time, adapting it to various markets or trading sessions.
Dynamic Line and Label Updates: Both lines and labels dynamically extend with the chart, while labels remain easy to read as they shift based on recent price action.
This script is designed to be simple yet powerful, offering key insights into session open levels without relying on predictive or lookahead features. It is useful for real-time analysis and adds value by helping traders identify critical levels in the market's early stages.
Volumatic Variable Index Dynamic Average [BigBeluga]The Volumatic VIDYA (Variable Index Dynamic Average) indicator is a trend-following tool that calculates and visualizes both the current trend and the corresponding buy and sell pressure within each trend phase. Using the Variable Index Dynamic Average as the core smoothing technique, this indicator also plots volume levels of lows and highs based on market structure pivot points, providing traders with key insights into price and volume dynamics.
Additionally, it generates delta volume values to help traders evaluate buy-sell pressure balance during each trend, making it a powerful tool for understanding market sentiment shifts.
BTC:
TSLA:
🔵 IDEA
The Volumatic VIDYA indicator's core idea is to provide a dynamic, adaptive smoothing tool that identifies trends while simultaneously calculating the volume pressure behind them. The VIDYA line, based on the Variable Index Dynamic Average, adjusts according to the strength of the price movements, offering a more adaptive response to the market compared to standard moving averages.
By calculating and displaying the buy and sell volume pressure throughout each trend, the indicator provides traders with key insights into market participation. The horizontal lines drawn from the highs and lows of market structure pivots give additional clarity on support and resistance levels, backed by average volume at these points. This dual analysis of trend and volume allows traders to evaluate the strength and potential of market movements more effectively.
🔵 KEY FEATURES & USAGE
VIDYA Calculation:
The Variable Index Dynamic Average (VIDYA) is a special type of moving average that adjusts dynamically to the market’s volatility and momentum. Unlike traditional moving averages that use fixed periods, VIDYA adjusts its smoothing factor based on the relative strength of the price movements, using the Chande Momentum Oscillator (CMO) to capture the magnitude of price changes. When momentum is strong, VIDYA adapts and smooths out price movements quicker, making it more responsive to rapid price changes. This makes VIDYA more adaptable to volatile markets compared to traditional moving averages such as the Simple Moving Average (SMA) or the Exponential Moving Average (EMA), which are less flexible.
// VIDYA (Variable Index Dynamic Average) function
vidya_calc(src, vidya_length, vidya_momentum) =>
float momentum = ta.change(src)
float sum_pos_momentum = math.sum((momentum >= 0) ? momentum : 0.0, vidya_momentum)
float sum_neg_momentum = math.sum((momentum >= 0) ? 0.0 : -momentum, vidya_momentum)
float abs_cmo = math.abs(100 * (sum_pos_momentum - sum_neg_momentum) / (sum_pos_momentum + sum_neg_momentum))
float alpha = 2 / (vidya_length + 1)
var float vidya_value = 0.0
vidya_value := alpha * abs_cmo / 100 * src + (1 - alpha * abs_cmo / 100) * nz(vidya_value )
ta.sma(vidya_value, 15)
When momentum is strong, VIDYA adapts and smooths out price movements quicker, making it more responsive to rapid price changes. This makes VIDYA more adaptable to volatile markets compared to traditional moving averages
Triangle Trend Shift Signals:
The indicator marks trend shifts with up and down triangles, signaling a potential change in direction. These signals appear when the price crosses above a VIDYA during an uptrend or crosses below during a downtrend.
Volume Pressure Calculation:
The Volumatic VIDYA tracks the buy and sell pressure during each trend, calculating the cumulative volume for up and down bars. Positive delta volume occurs during uptrends due to higher buy pressure, while negative delta volume reflects higher sell pressure during downtrends. The delta is displayed in real-time on the chart, offering a quick view of volume imbalances.
Market Structure Pivot Lines with Volume Labels:
The indicator draws horizontal lines based on market structure pivots, which are calculated using the highs and lows of price action. These lines are extended on the chart until price crosses them. The indicator also plots the average volume over a 6-bar range to provide a clearer understanding of volume dynamics at critical points.
🔵 CUSTOMIZATION
VIDYA Length & Momentum: Control the sensitivity of the VIDYA line by adjusting the length and momentum settings, allowing traders to customize the smoothing effect to match their trading style.
Volume Pivot Detection: Set the number of bars to consider for identifying pivots, which influences the calculation of the average volume at key levels.
Band Distance: Adjust the band distance multiplier for controlling how far the upper and lower bands extend from the VIDYA line, based on the ATR (Average True Range).
Power MarketPower Market Indicator
Description: The Power Market Indicator is designed to help traders assess market strength and make informed decisions for entering and exiting positions. This innovative indicator provides a comprehensive view of the evolution of Simple Moving Averages (SMA) over different periods and offers a clear measure of market strength through a total score.
Key Features:
Multi-Period SMA Analysis:
Calculates Simple Moving Averages (SMA) for 10 different periods ranging from 10 to 100.
Provides detailed analysis by comparing the current closing price with these SMAs.
Market Strength Measurement:
Assesses market strength by calculating a total score based on the relationship between the closing price and the SMAs.
The total score is displayed as a histogram with distinct colors for positive and negative values.
Smoothed Curve for Better View:
A smoothing of the total score is applied using a 5-period Simple Moving Average to represent the overall trend more smoothly.
Dynamic Information Table:
Real-time display of the maximum and minimum values among the SMAs, as well as the difference between these values, providing valuable insights into the variability of moving averages.
Visual Reference Lines:
Horizontal lines at zero, +50, and -50 for easy evaluation of key score levels.
How to Use the Indicator:
Position Entries: Use high positive scores to identify buying opportunities when market strength is strong.
Position Exits: Negative scores may signal market weakness, allowing you to exit positions or wait for a better opportunity.
Data Analysis: The table helps you understand the variability of SMAs, offering additional context for your trading decisions.
This powerful tool provides an in-depth view of market dynamics and helps you navigate your trading strategies with greater confidence. Embrace the Power Market Indicator and optimize your trading decisions today!
Yesterday's Levels with 50% wick and Equilibrium## Script Description
This Pine Script indicator highlights key levels from the previous day’s daily candle on any timeframe chart. It focuses exclusively on marking the following:
1. **Previous Day’s High, Low, Open, and Close**:
- Horizontal lines are drawn to indicate the previous day's high, low, open, and close prices.
- These lines are white and extend across the chart.
2. **50% of Candle Wicks**:
- If the previous day’s candle has wicks, two additional lines mark 50% of the top wick and 50% of the bottom wick.
- These lines are green and dotted, representing half the wick’s height.
3. **Equilibrium (50% of the Full Candle)**:
- A horizontal red line marks the midpoint (equilibrium) of the entire previous day’s candle, from high to low.
- This line is thicker than the others to emphasize the equilibrium level.
The script works by focusing only on the previous day’s daily candle, ensuring that it doesn’t plot lines for any older candles. These levels are visible on all timeframes.
Price Action Volumetric Order Blocks [UAlgo]"Price Action Volumetric Order Blocks" indicator aims to identify significant price zones in the market based on a combination of price action and volume analysis. It utilizes the concept of "Order Blocks," which are areas on the chart where large orders are believed to have been placed, influencing price behavior. By analyzing price swings and volume activity, the indicator attempts to highlight potential support and resistance levels.
🔶 Key Features
Swing Length: This input allows you to adjust the timeframe used to identify price swings for order block detection. A longer swing length will focus on larger timeframes and potentially capture stronger order blocks.
Show Last X Order Blocks: This controls the number of order blocks displayed on the chart. You can choose to visualize a specific number of the most recent order blocks.
Violation Check: This setting determines how the indicator identifies potential order block violations. You can choose between "Wick" or "Close" violations. A "Wick" violation occurs when the price (wick) extends beyond the order block boundaries, while a "Close" violation signifies that the closing price breaches the order block.
Hide Overlap: This option allows you to manage the display of overlapping order blocks. If set to "True," only non-overlapping order blocks will be shown, potentially offering a clearer visualization.
Colors: You can customize the color scheme for bullish (upward) and bearish (downward) order blocks to enhance visual clarity on the chart.
🔶 Interpreting the Indicator
Order Blocks: The teal-colored boxes represent bullish order blocks, indicating areas of demand where buying pressure is likely to be strong. Red-colored boxes represent bearish order blocks, indicating areas of supply where selling pressure is likely to be dominant. These zones often signal potential reversal points or consolidation areas.
Strength Calculations: The indicator calculates the relative strength of bullish and bearish blocks based on volume. A higher bullish strength indicates stronger buying pressure, while higher bearish strength suggests more selling pressure. Traders can use this information to gauge the strength of a price level and predict future price movements.
Market Structure Lines: The indicator displays horizontal lines to depict the current market structure, labeled as "MSB" (Market Sell Balance) or "BOS" (Break of Structure). These lines can help visualize the prevailing trend direction.
Order Block Violations: When a price wick or close breaches an order block (depending on the chosen violation type), the corresponding order block visualization is removed from the chart. This can signify a potential weakening of the identified support or resistance zone.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Revenue GridDescription:
The Revenue Grid indicator helps traders and investors visualize a stock’s valuation by plotting horizontal lines based on its price-to-sales (P/S) ratio. This tool displays how the stock price compares to multiples of its total revenue per share, giving a clear perspective on valuation benchmarks.
Fundamental Concept:
The price-to-sales ratio compares a company’s stock price to its revenue per share. It’s used to evaluate whether a stock is overvalued or undervalued based on its revenue.
This indicator offers a unique way to view this ratio by applying Fibonacci multiples to the revenue per share. It plots lines at these multiples to show how the stock price measures up against different valuation levels.
How It Works:
Data Inputs:
Total Revenue (TR): The company’s revenue over the past twelve months.
Total Shares Outstanding (TSO): The total number of shares in circulation.
Calculation:
Calculates the revenue per share (TR/TSO).
Plots lines at fixed Fibonacci multiples (e.g., 1x, 2x, 3x, 5x, 8x, 13x) of the revenue per share value.
How to Use:
1. Add the "Revenue Grid" indicator to your chart by searching for it in the indicator library and applying it.
2. Observe the lines plotted on the chart. If these lines are trending upwards, it indicates that the revenue is increasing.
3. Analyze how historical prices trend relative to these lines. Look for periods where the stock price supports around specific multiples, you can easily get a sense of overvaluation or undervaluation in certain periods.
Use this information to guide further analysis and investment decisions.
Benefits:
1. Clear Valuation View: Easily see how the company’s revenue translates into stock price levels.
2. Investment Insight: Identify if the stock price is lagging behind revenue growth, which might signal a buying opportunity.
3. Historical Context: Understand how the market has historically valued the company and assess the current valuation.
Do let me know your feedbacks in comments. Happy Investing :)
[KVA] KMACDKMACD Indicator: Advanced Market Analysis Through Central Tendency Metrics
The KMACD (KAMVIA Moving Average Convergence Divergence) indicator is an advanced, multi-dimensional tool designed to provide traders and analysts with a deeper understanding of market dynamics. By integrating the classical MACD framework with statistical measures of central tendency, KMACD offers a sophisticated approach to identifying trends, reversals, and potential trading opportunities.
Key Features of the KMACD Indicator:
1. Enhanced MACD Calculation :
- The KMACD employs dual moving averages (fast and slow) of user-defined types (SMA, EMA, WMA) to calculate the MACD line, which represents the difference between these moving averages. This traditional approach is further enhanced by customizable signal smoothing, allowing users to fine-tune the sensitivity of the indicator.
2. Central Tendency Metrics :
- The indicator integrates additional statistical measures, such as Mean, Median, Mode, Standard Deviation, and Variance, calculated over a rolling window. These metrics provide insights into the central tendencies of the MACD values, helping traders understand the overall trend direction and the dispersion of price movements around the trend.
3. RSI-Like Oscillator :
- A unique RSI-like value derived from the MACD line is included to highlight overbought and oversold conditions. This offers a dual-layered perspective, combining the power of MACD and RSI methodologies, to signal potential market extremes with greater precision.
4. Customizable Visual Elements :
- KMACD allows users to toggle the visibility of the MACD line, Signal line, and Histogram, providing flexibility in how the data is presented. The histogram dynamically changes color—green when above zero, indicating bullish momentum, and red when below zero, indicating bearish momentum.
5. Horizontal Line Customization :
- The indicator includes customizable horizontal lines for the zero level, overbought, and oversold thresholds. These lines serve as visual cues to identify key price levels and market conditions.
6. Adaptive to Various Market Conditions :
- KMACD's comprehensive features make it adaptable to various market conditions, from trending markets to sideways consolidations. Whether you're looking to capture momentum shifts or identify potential reversal points, KMACD provides the analytical power needed to make informed trading decisions.
How to Use KMACD:
- Trend Identification : Use the MACD line in conjunction with central tendency measures (Mean, Median, Mode) to gauge the overall market trend and its strength. A rising MACD line, supported by higher mean and median values, typically indicates an uptrend.
- Momentum Analysis : The histogram and RSI-like value help in identifying the momentum behind price movements. Positive histogram bars suggest increasing bullish momentum, while negative bars suggest increasing bearish momentum.
- Overbought/Oversold Conditions : Monitor the RSI-like oscillator and the overbought/oversold levels to detect when the market may be poised for a reversal.
- Divergence Detection : Look for divergences between the MACD line and price action, supported by the central tendency measures, to spot potential reversal points.
Conclusion
The KMACD indicator is more than just a traditional MACD; it’s a comprehensive tool designed to cater to both novice and experienced traders. By incorporating central tendency metrics and customizable features, KMACD stands out as a versatile and powerful indicator that enhances market analysis and trading strategies. Whether you're navigating volatile markets or steady trends, KMACD offers the precision and depth needed to stay ahead.
Supply and Demand Zones with Enhanced SignalsThis Pine Script indicator combines supply and demand zone analysis with dynamic buy/sell signals to enhance trading strategies. It provides a robust framework for identifying optimal trading opportunities and managing existing trades.
Key Features:
Supply and Demand Zones: The indicator identifies significant supply and demand zones based on recent price action. These zones are plotted as horizontal lines to help traders visualize potential reversal points.
Exponential Moving Average (EMA): A 21-period EMA is used to determine the prevailing trend and generate buy and sell signals.
Relative Strength Index (RSI): The 14-period RSI is utilized to filter buy and sell signals, providing additional context on overbought and oversold conditions.
Signal Generation:
Buy Signal: Triggered when the price crosses above the EMA and RSI indicates that the market is not overbought.
Sell Signal: Triggered when the price crosses below the EMA and RSI indicates that the market is not oversold.
Enhanced Exit Signals:
Exit Buy Signal: Generated if an opposite sell signal occurs or the higher timeframe RSI indicates overbought conditions.
Exit Sell Signal: Generated if an opposite buy signal occurs or the higher timeframe RSI indicates oversold conditions.
Trade Management:
Tracks active trades and provides exit signals based on the occurrence of opposite trading signals. This helps in managing positions more effectively and reducing potential losses.
Usage:
Supply and Demand Zones: Look for price action around these zones to identify potential trading opportunities.
EMA and RSI: Use buy and sell signals in conjunction with EMA and RSI to validate trading decisions.
Higher Timeframe RSI: Utilize this for additional confirmation and exit signals.
Plotting:
Supply Zone: Plotted as a red horizontal line.
Demand Zone: Plotted as a green horizontal line.
EMA: Plotted as a blue line.
Buy and Sell Signals: Indicated by green and red triangle shapes, respectively.
Exit Signals: Indicated by blue and orange X shapes.
This indicator is designed to help traders make informed decisions by combining technical analysis with strategic trade management.
Bullish Breakout After ConsolidationDescription:
The Bullish Breakout After Consolidation Indicator is designed to help traders identify potential bullish breakout opportunities following a period of tight price consolidation. This indicator combines price action and volume analysis to signal when a stock may experience a significant upward movement.
Features:
Consolidation Range Tightness: The indicator identifies periods where the stock price consolidates within a narrow range, defined as a range less than 2% of the lowest low during the consolidation period. This tight consolidation is often a precursor to strong price movements.
Breakout Detection: Once the price breaks above the highest high of the consolidation range, and this breakout occurs after a specified number of days post-consolidation, the indicator marks it as a potential breakout opportunity.
Volume Confirmation: To avoid false breakouts, the indicator requires increased trading volume during the breakout. This ensures that the breakout is supported by substantial market activity.
Visual Cues:
Breakout Label: A "Breakout" label appears above the bar where a valid breakout occurs, making it easy to spot potential entry points.
Support and Resistance Lines: Horizontal lines plot the highest high (resistance) and lowest low (support) during the consolidation period, helping traders visualize the breakout levels.
Moving Averages: Optional 20-day and 50-day simple moving averages are plotted for additional trend confirmation.
How to Use:
Apply the Indicator: Add the indicator to your chart in TradingView to start analyzing potential breakouts.
Observe Consolidation: Look for tight consolidation periods where the price trades within a narrow range.
Identify Breakouts: Watch for breakouts where the price moves above the highest high of the consolidation range, supported by increased volume.
Confirm with Labels: The "Breakout" label will help you quickly identify valid breakout signals.
Parameters:
Consolidation Length: Number of days to consider for consolidation.
Range Percentage: Maximum percentage range for consolidation tightness.
Days After Consolidation: Number of days post-consolidation to check for the breakout.
Note: As with any trading tool, it is important to use this indicator as part of a broader trading strategy and in conjunction with other forms of analysis.
Disclaimer: This indicator is provided for educational purposes and should not be construed as financial advice. Trading involves risk and may not be suitable for all investors.
Stocks Above 5-Day Average (FOMO)Overview
Inspired by Matt Carusos's FOMO indicator, this breadth indicator is designed to provide a visual representation of the percentage of stocks within major indices that are trading above their 5-day moving average.
Functionality
The indicator plots the percentage of stocks trading above their 5-day moving average for the following indices:
S&P 500
Nasdaq
Russell 2000
Dow Jones
All Markets (MMFD)
The indicator includes two horizontal lines:
Upper Threshold: Default at 85%
Lower Threshold: Default at 15%
These lines are used to identify potential overbought (above upper threshold) or oversold (below lower threshold) conditions.
Plot Shapes:
Small circles are plotted at the points where the percentage of stocks crosses the upper or lower thresholds, with colors matching the respective index.
Table:
The current percentage of stocks above the 5-day average for each index.
A warning sign (⚠️) is shown in the table if the percentage crosses the upper or lower threshold, regardless of whether the index plot is enabled or not.
Jobinsabu014This Pine Script code is for an advanced trading indicator that displays enhanced moving averages with buy and sell labels, trend probability, and support/resistance levels. Here’s a detailed description of its components and functionality:
### Description:
1. **Indicator Initialization**:
- The indicator is named "Enhanced Moving Averages with Buy/Sell Labels and Trend Probability" and is set to overlay on the chart.
2. **Input Parameters**:
- **Moving Averages**: Four different moving averages (short and long periods for default and enhanced) with customizable periods.
- **Probability Threshold**: Determines the threshold for trend probability.
- **Support/Resistance Lookback**: Number of bars to look back for calculating support and resistance levels.
- **Signals Valid From**: Timestamp from which the signals are considered valid.
3. **Moving Averages Calculation**:
- **Default Moving Averages**: Calculated using simple moving averages (SMA) for the specified periods.
- **Enhanced Moving Averages**: Calculated using SMAs for different specified periods.
4. **Plotting Moving Averages**:
- Plots the default and enhanced moving averages with different colors for distinction.
5. **Crossover Detection**:
- Detects when the short moving average crosses above or below the long moving average for default moving averages.
6. **Buy/Sell Signal Labels**:
- Adds "BUY" and "SELL" labels on the chart when crossovers are detected after the specified valid timestamp.
- Tracks entry prices for buy/sell signals and adds labels when the price moves +100 points.
7. **Trend Detection for Enhanced Indicator**:
- Detects uptrend or downtrend based on the enhanced moving averages.
- Calculates a simple probability of trend based on price movement and EMA.
- Determines buy and sell signals based on trend conditions and volume-based buy/sell pressure.
8. **Plot Buy/Sell Signals for Enhanced Indicator**:
- Plots buy/sell signals based on the enhanced conditions.
9. **Background Color for Trends**:
- Changes the background color to green for uptrend and red for downtrend.
10. **Trend Lines**:
- Draws imaginary trend lines for uptrend and downtrend based on enhanced moving averages.
11. **Support and Resistance Levels**:
- Calculates and plots support and resistance levels using the specified lookback period.
- Stores and plots previous support and resistance levels with dashed lines.
12. **Expected Trend Labels**:
- Adds labels indicating expected uptrend or downtrend based on buy/sell signals.
13. **Alerts**:
- Sets alert conditions for buy and sell signals, triggering alerts when these conditions are met.
14. **Demand and Supply Zones**:
- Draws and extends horizontal lines for demand (support) and supply (resistance) zones.
### Summary:
This script enhances traditional moving average crossovers by adding trend probability calculations, volume-based pressure, and support/resistance levels. It visualizes expected trends and provides comprehensive buy/sell signals with corresponding labels, background color changes, and alerts to help traders make informed decisions.
slope-velocityDescription
This Pine Script indicator, named "slope-velocity," calculates and visualizes the slope of a moving average (MA) in degrees, allowing users to observe the rate of change of the MA over time. Here's a breakdown of its components and functionality:
Inputs:
option: A dropdown menu allowing the user to select the type of moving average (SMA, EMA, DEMA).
length: An integer input for specifying the period length of the moving average.
source: The data source for the moving average calculation, defaulting to the close price.
Variable Initialization:
ma: A variable to store the moving average value, initialized as na.
Moving Average Calculation:
Depending on the selected option, the script calculates the appropriate moving average:
ta.sma(source, length) for Simple Moving Average (SMA).
ta.ema(source, length) for Exponential Moving Average (EMA).
ta.dema(source, length) for Double Exponential Moving Average (DEMA).
Slope Calculation:
slope_ma: The script calculates the slope of the moving average by subtracting the previous period's MA value from the current period's MA value (ma - ma ).
Slope Conversion to Degrees:
slope_degrees_ma: The slope is converted to degrees using the math.atan function to compute the arctangent of the slope, followed by math.todegrees to convert the result from radians to degrees. The result is rounded to the nearest integer using math.round.
Plotting Reference Lines:
Horizontal lines are plotted at specific degree values (0, 10, 20, -10, -20) to provide reference points for the slope's visualization.
Plotting the Slope:
The slope in degrees is plotted as a histogram. The color of the histogram bars is determined by the sign of the slope: green for positive slopes and red for negative slopes.
Additional Comments
The script includes some commented-out sections related to plotting acceleration and displaying labels for slope differences, which are not active in the current implementation.
The script is designed to provide a visual representation of the moving average's rate of change, making it easier to identify periods of rapid price movement and potential trend reversals.
Inside Bar Setup [as]Inside Bar Setup Indicator Description
The **Inside Bar Setup ** indicator is a powerful tool for traders to identify and visualize inside bar patterns on their charts. An inside bar pattern occurs when the current candle's high is lower than the previous candle's high, and the current candle's low is higher than the previous candle's low. This pattern can indicate a potential breakout or a continuation of the existing trend.
Key Features:
1. **Highlight Inside Bar Patterns:**
- The indicator highlights inside bar patterns with distinct colors for bullish and bearish bars. Bullish inside bars are colored with the user-defined bull bar color (default lime), and bearish inside bars are colored with the user-defined bear bar color (default maroon).
2. **Marking Mother Candle High and Low:**
- The high and low of the mother candle (the candle preceding the inside bar) are marked with horizontal lines. The high is marked with a green line, and the low is marked with a red line.
- These levels are labeled as "Range High" and "Range Low" respectively, with the labels displayed a few bars to the right for clarity. The labels have a semi-transparent background for better visibility.
3. **Target Levels:**
- The indicator calculates and plots potential target levels (T1 and T2) for both long and short positions based on user-defined multipliers of the mother candle's range.
- For long positions, T1 and T2 are plotted above the mother candle's high.
- For short positions, T1 and T2 are plotted below the mother candle's low.
- These target levels are optional and can be toggled on or off via the input settings.
4. **Customizable Inputs:**
- **Colors:**
- Bull Bar Color: Customize the color for bullish inside bars.
- Bear Bar Color: Customize the color for bearish inside bars.
- **Long Targets:**
- Show Long T1: Toggle the display of the first long target.
- Show Long T2: Toggle the display of the second long target.
- Long T1: Multiplier for the first long target above the mother candle's high.
- Long T2: Multiplier for the second long target above the mother candle's high.
- **Short Targets:**
- Show Short T1: Toggle the display of the first short target.
- Show Short T2: Toggle the display of the second short target.
- Short T1: Multiplier for the first short target below the mother candle's low.
- Short T2: Multiplier for the second short target below the mother candle's low.
5. **New Day Detection:**
- The indicator detects the start of a new day and clears the inside bar arrays, ensuring that the pattern detection is always current.
#### Usage:
- Add the indicator to your TradingView chart.
- Customize the inputs to match your trading strategy.
- Watch for highlighted inside bars to identify potential breakout opportunities.
- Use the marked range highs and lows, along with the calculated target levels, to plan your trades.
This indicator is ideal for traders looking to capitalize on inside bar patterns and their potential breakouts. It provides clear visual cues and customizable settings to enhance your trading decisions.
Note:
This indicator is based on famous 15 min inside bar strategy shared by Subashish Pani on his youtube channel Power of stocks. Please watch his videos to use this indicator for best results.
Dynamic Date and Price Tracker with Entry PriceThe Dynamic Date and Price Tracker indicator is a simple tool designed for traders to visualize and monitor their trade's progress in real-time from a specified starting point.
This tool provides an intuitive graphical representation of your trade's profitability based on a custom entry date and price.
Features:
-Starting Date Selection: Choose a specific starting date, after which the indicator begins tracking your trade's performance.
-Custom Entry Price: Input a starting price to accurately reflect your actual entry price for performance tracking across different timeframes.
-Real-Time Tracking: As new bars form, the indicator automatically adjusts a dynamic line to the current closing price.
-Profit/Loss Color Coding: The dynamic line color changes based on whether the current price is above (green for profit) or below (red for loss) your specified entry price.
-Performance Label: A real-time label displays the absolute and percentage change in price since your initial entry, color-coded for positive (green) or negative (red) performance.
-Entry Price Line: The horizontal line marks your starting price for easy visual comparison.
NUPL - Net Unrealized Profit-Loss BTC Tops/Bottoms [Logue]Net Unrealized Profit Loss (NUPL) - The NUPL measures the profit state of the bitcoin network to determine if past transfers of BTC are currently in an unrealized profit or loss state.
Values above zero indicate that the network is in overall profit, while values below zero indicate the network is in overall loss. Highly positive NUPL values indicate overvaluation of the BTC network and relatively negative NUPL values indicate an undervaluation of the BTC network.
For tops: The default setting for tops is based on decreasing "strength" of BTC tops. A decreasing linear function (trigger = slope * time + intercept) was fit to past cycle tops for this indicator and is used as the default to signal macro tops. The user can change the slope and intercept of the line by changing the slope and/or intercept factor. The user also has the option to indicate tops based on a horizontal line via a settings selection. This horizontal line default value is 73. This indicator is triggered for a top when the NUPL is above the trigger value.
For bottoms: Bottoms are displayed based on a horizontal line with a default setting of -13. The indicator is triggered for a bottom when the NUPL is below the bottom trigger value.
LMACD - Logarithmic MACD Weekly BTC Index [Logue]Logarithmic Moving Average Convergence Divergence (LMACD) Weekly Indicator - The LMACD is a momentum indicator that measures the strength of a trend using 12-period and 26-period moving averages. The weekly LMACD for this indicator is calculated by determining the difference between the log (base 10) of the 12-week and 26-week exponential moving averages. Larger positive numbers indicate a larger positive momentum.
For tops: The default setting for tops is based on decreasing "strength" of BTC tops. A decreasing linear function (trigger = slope * time + intercept) was fit to past cycle tops for this indicator and is used as the default to signal macro tops. The user can change the slope and intercept of the line by changing the slope and/or intercept factor. The user also has the option to indicate tops based on a horizontal line via a settings selection. This line default value is 0.125. This indicator is triggered for a top when the LMACD is above the trigger value.
For bottoms: Bottoms are displayed based on a horizontal line with a default setting of -0.07. The indicator is triggered for a bottom when the LMACD is below the bottom trigger value.
Xen's Flag Pattern Scalper1. Input Parameters:
FlagLength: Determines the length of the flag pattern.
TakeProfit1Ratio, takeProfit2Ratio, takeProfit3Ratio: Define the ratios for calculating
the take-profit levels relative to the entry price.
RiskRewardRatio: Specifies the risk-reward ratio for calculating the stop-loss level
relative to the entry price.
2 Flag Conditions:
BullishFlag: Checks if the current bar meets the conditions for a bullish flag pattern. It
evaluates to true if the low of the current bar is lower than the low flagLength bars
ago, and the close of the current bar is higher than the high flagLength bars ago.
BearishFlag: Checks if the current bar meets the conditions for a bearish flag pattern. It evaluates to true if the high of the current bar is higher than the high flagLength bars
ago, and the close of the current bar is lower than the low flagLength bars ago.
3. Entry Price:
EntryPrice: Calculates the entry price based on whether a bullish or bearish flag
pattern is identified. For a bullish flag, the entry price is set to the low of the current bar.
For a bearish flag, the entry price is set to the high of the current bar.
4. Stop Loss:
StopLoss: Determines the stop-loss level based on the entry price and the specified
riskRewardRatio . For a bullish flag, the stop-loss level is calculated by subtracting the
difference between the high and low of the current bar multiplied by the riskRewardRatio from the low of the current bar. For a bearish flag, the stop-loss level
is calculated similarly but added to the high of the current bar.
5. Take Profit Levels:
Three take-profit levels ( takeProfit1, takeProfit2, takeProfit3 ) are calculated based on
the entry price, stop-loss level, and specified take-profit ratios ( takeProfit1Ratio,
takeProfit2Ratio, takeProfit3Ratio ).
6. Plotting Signals and Levels:
Bullish and bearish flag patterns are plotted using triangle shapes ( shape.triangleup for
bullish and shape.triangledown for bearish) above or below the bars, respectively.
Entry, stop-loss, and take-profit levels are plotted using horizontal lines ( line.new )
with different colors and styles. Entry and stop-loss levels are labeled with "Entry" and "SL",
respectively, while take-profit levels are labeled with "TP 1", "TP 2", and "TP 3".
The colors for bullish flags are white for entry, red for stop-loss, and green for take-profit levels. For bearish flags, the colors are the same, but the labels are plotted above the bars.
7. Label Placement:
Labels for entry, stop-loss, and take-profit levels are placed a distance of 4 bars to the right
of the entry price using bar_index + 4 .
This indicator is intended to help traders identify flag patterns on price charts and visualize potential entry, stop-loss, and take-profit levels associated with these patterns.
Please use risk management and when TP1 is hit, move stoploss to breakeven .
