SR Levels - Major Support and Resistance LevelsHello Traders!
This Indicator helps you to identify Major support and resistance level. Major Vibration numbers are working as support & resistance in the many scripts as I have seen. Since I have my research about the vibration numbers, I strongly believe these numbers are works as good Support & Resistance. This is just try to idendify the those number to enter into the trade. Use Other indicators to Identify Trend and for your support!
When Price move low to high:
1) Green Line works are buy entry point, TP area is Red Line, SL area also Red Just below the Green Line
When Price Move High to Low:
1) Red Lines are works as Sell entry point, TP are Green Line, SL area also Green Lines just above the Red Line.
Notes: This Indicators is mainly focus the script which more than 5 digit scripts. Example above 10000 price scripts only.. for Intraday. below 10000 or 1000 scripts also works but for long term not for intraday...
NSE:BANKNIFTY
ابحث في النصوص البرمجية عن "the script"
Fixed Reference Relative StrengthRelative Strength based on a fixed reference session date. This study works on day timeframe only.
The idea here is to "fix" a reference trading session day. The relative strength of subsequent candles are measured based on this reference day only. Relative strengths of bars before this bar is irrelevant and not plotted. As the plotting of the bars advances, the length is automatically adjusted so that the base reference is the "fixed" reference only. The RS value is multiplied by 100 to give a percentage value.
The other Relative Strength indicators that I have published (and other Relative Strength scripts generally available on TradingView), generally take a fixed length as input and that has to be advanced each trading session. What this results into is that only the "latest bar" RS is compared to the "reference" session date. All the RS values prior to this latest bar is actually compared to days previous to the reference date.
In the example above, we have input 13-Feb-2020 as the "fixed" reference trading session day. Starting from 14-Feb-2020, each session day, we calculate the RS always with respect to 13-Feb-2020, unlike the other scripts. When the RS value of today, 08-Sep-2020 is being calculated, it is using 13-Feb-2020 (as the other scripts do when the length is advanced one day each trading session day). However, when the RS value of 07-Sep-2020 is being calculated today (08-Sep-2020), it is still using 13-Feb-2020 as the reference. In the other scripts, a calculation of RS for 07-Sep-2020 on 08-Sep-2020 would have taken 12-Feb-2020 as the reference value.
This plot thus gives the exact performance of the script with respect to the benchmark index from the fixed reference each day. A performance trend is therefore possible to do on this plot.
TradeChartist PowerTracer Pro Backtester™TradeChartist PowerTracer Pro Backtester is the strategy script for backtesting ™TradeChartist PowerTracer Pro for best performance settings which can then be used with ™TradeChartist PowerTrader Pro to plot Trades emulating the backtester and use Alerts (once per bar) on real time price chart.
PowerTracer Backtester includes the following options in the settings.
PowerTracer setting - Power Plot Type - (PowerTracer, Bar-wise Power Holder)
PowerTracer setting - Timeframe Multiplier
PowerTracer setting - Smoothing Factor
Backtester setting - Trade Direction - (Both Longs and Shorts, Only Longs, Only Shorts)
Backtester setting - SL Type (Fixed Stop Loss, Trailing Stop Loss)
Backtester setting - Reference for Trailing SL (Close, High/Low)
Backtester setting - Stop Loss %
Backtester setting - Take Profit %
Backtester setting - Quantity to trade at TP %
Using combinations of the settings, the user can find optimal settings for the asset to deliver lucrative entry and exit signals with high ROI and minimal Drawdown which can then be used on PowerTracer Pro and PowerTrader Pro to plot signals and create alerts to start trading in real-time.
Example charts:
GBP-USD 1hr chart - (2,1,Trailing SL, close, 1,1,25)
BTC-USDT 15m chart - (4,5, Trailing SL, high/low, 3.9,1.2,15)
SPX 1hr chart - (1,3, Trailing SL, high/low, 3, 2, 50)
This backtester needs the following scripts to generate signals and plots on main price chart and for real-time alerts
™TradeChartist PowerTracer Pro
™TradeChartist PowerTrader Pro
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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Standard Deviation Measurement ToolIf you like the script please come back and leave me a comment or find me on the interwebs. I get notified you "liked" it... but I have no idea if you actually use it. So, let me know =)
The script uses the open price as the mean and calculates the standard deviation from the open price on a per candle basis
- Goal: -
To establish a mean based on the Open Price and calculate the standard deviation.
The reason for this is if the Open is the mean, then the Standard deviation implies a standardized distance a given candle can be expected to travel
from the open price
- Edge: -
If you know that there is a 68%/95%/99.7% probability that price will NOT move more than
One Standard Deviation/Two Standard Deviations/Three Standard Deviations from the open price respectively
you can set reasonable price targets that relate to those probabilities in a given timeframe.
e.g. if you're on a 1h chart and your target is 3.5% from the open price, but 1 standard deviation of the hourly candle is equal to 0.78%.
You can make assumptions on either:
- The reasonableness of your target
or
- The holding period likely required for the trade.
Also, Standard Deviation is a function of volatility and this tool provides a unique mechanism for measuring volatility as well on a candle by candle basis
- Customization Options-
- Set 3 independent upper and lower standard deviations.
- Each set of standard deviations are on a switch so you can show 1, 2, or 3 sets of standard deviations
- You can set the distribution width
- Though it's not recommended, you can change the mean source.
- There is a switch to show the standard deviation on only the real-time bar or real-time and historical bars.
- How I Think About This Script -
This strategy is predicated the same principle as Bollinger Bands: the reality that 68% of all data points will fall within one standard deviation of the mean, 96% of all data points will fall within two standard deviations, and 98% of al data points will fall within 3 standard deviations. By understanding the standard deviation, you can possibly infer an edge by understanding the probabilistic range price will be bound to the limits of standard deviation rules according to their probabilistic outcomes for the single candle on any given timeframe. Bollinger Bands are designed to provide this information with the mean being a 20-period moving average and this indicator.
This indicator is designed to provide standard deviation information with the mean being based on the distance price travels away from the open of individual candles in the lookback period.
If you use a strategy where you enter on major candle closes, this can be useful to set targets for those entries based on the intended hold period or at least add/remove validity to other target metrics.
Example:
Your target is at the 1.618 Fibonacci level and your confirmation triggers on the 4h candle close (H4 if that's your thing lol). You set up the indicator based on the standard deviation of price movement in 4h candles over the last week.
Let's say the indicator shows that the 1.618 Fibonacci level is 3 standard deviations away.
This being the case this statistically indicates that within the next 4 hours, you have a very low probability of achieving your target (>2%). This doesn't invalidate your target, but it does indicate a low probability of achieving it in the next 4hrs. With this information, you can infer that you are either going to be (a) really lucky (b) in this trade for a lot longer than 4hrs or (c) your target is unrealistic given your intended hold period.
You can develop a more probabilistically favorable hold period calculation by looking at the standard deviation on a higher time frame (e.g. 1d-1w).
Bonus feature: You'll find that the 2 and 3 standard deviations will often "cluster" and these clusters often provide future S/R levels. That's a pretty sweet feature no one things to look for. But, try it. Find a cluster of 2nd and 3rd stdevs that are in somewhat of a horizontal pattern (usually the result of a range) and you'll find that to be a good s/r area. Even better if you use the 3.2 standard deviation, you'll find that is a fantastic breakout signal!
Summary
So, you can use it for target setting, a confluence test, a reasonableness test, or just a measurement tool.
This was the first TV script I ever wrong.. Got taken down. But, I've re-released it because there are other TV scripts that attempt to do this but are completely wrong.
Please be careful about using other people's scripts. Always validate the math of the script before you use it if possible.
Stay safe out there and I hope all your dreams come true.
TFs Pivot Reversal StrategyThe Pivot Reversal strategy script uses pivot points to create a support and resistance level; based on this levels the strategy creates virtual stop-market orders to catch the trend if the price is crossing the pivot lines.
A configurable trailing-stop and stop-loss is being used to exit an open position.
How to use
The strategy works with all timeframes; the current chart setting is using a 15min timeframe. The strategy enters about 10 trades per day, depending on the used settings.
I'm also providing a "study" version of this strategy, which can be used to automate the strategy by using webhooks for instance.
The script is using a default commission of 0.075% which reflects Bitmex' Taker-Fees. This is just a default and can be modified in the strategy settings for each instrument individually.
How to access
This strategy is a "Invite Only" script. You can can subscribe or purchase the strategy ; please use the link below or send me a message via Tradingview to obtain access to the strategy and study script.
For enabling the script in your Tradingview chart window, click on "Indicators" and select "Invite-Only Scripts".
Full list of parameters:
"Pivot Left Bars" ... Number of bars on the left of the pivot point - used for pivot/peak detection
"Pivot Right Bars" ... Number of bars on the right of the pivot point - used for pivot/peak detection
"Entry Offset " ... Entry price offset after crossing pivot line (in %)
"Trailing Activation Level " ... Trailing stop activation level above/below average price (in %)
"Trailing Offset " ... Trailing stop price (in %)
"Stop Loss " ... Absolute stop-loss (in %)
"Capital Risk Factor " ... Capital risk factor (in %)
"Margin / Leverage " ... Optional leverage factor which can be used to leverage position (in %)
"Backtest ..." ... Backtest timeframe; area outside this timeframe will be grayed out
I'm looking forward to any feedback, reviews or change requests!
BullTrading 15 Min Daily Retracement Channel V2.0Hi Traders, I have been received tons of private messages asking me access to my previous scripts. Please let me apologize for not being able to answer all messages. Once you publish a script in Tradingview you can manage individual access to the script but there is no option to open the script after being published.
For that reason I decided to open this script for you, this indicator implements many of the best features contained in previous "invite only scripts". It is designed to display alerts for day trading and short term swings using the 15m Timeframe.
How to use "BullTrading 15 Min Daily Retracement Channel V2.0" indicator?
This indicator is experimental but works if the trader applies good judgment and risk management. Neither myself or BullTrading Asset Management is or will be responsible for any live trading loss using this script, so please use it on Demo.
ALWAYS USE PENDING ORDERS!! It is always much better to wait price using your Fibonacci Retracement tool or the indicator reference lines.
Set Buy signals AT THE CLOSE of yellow candlesticks.
Set Sell signals AT THE CLOSE of fuchsia candlesticks.
Most of the time Buy/Sell signals will react with too much anticipation so you can wait for the price to form enough fractals in order to analyze your entry levels, risk management, SL's and TP's.
AVOID AT ALL COSTS to enter the market immediately after a signal. WAIT for fractal formations to confirm reversals. I will say it AGAIN: Use only pending orders and AVOID market execution orders!
If your order is already filled and the moving average changes color or the price consolidates in your entry level it is better to trail tight your SL, exit the trade with small loss or Break Even instead of waiting for a full Stop Loss exit (this conditions usually indicate trend continuations against the indicator signals).
If the market goes against the signal, THINK and use the indicator lines and channels to match a level using your Fib retracement tool. Applying this criteria will lead for better entry levels in the opposite direction.
Feel free to comment suggestions.
Best Regards
GustavoRubi
AG Pro Dynamic Channels PremiumAG Pro Dynamic Channels Premium
The Gold Standard in Automated Market Structure.
AG Pro Dynamic Channels Premium is the culmination of advanced algorithmic development, designed specifically for professional traders who refuse to compromise on chart clarity.
While standard indicators flood your screen with noise, this Premium edition employs a proprietary "Smart Filtering Engine" to identify, validate, and project only the most statistically significant support and resistance channels. It transforms chaos into a clear, actionable roadmap.
🏆 Why Go Premium?
This is not just an update; it is a complete overhaul of the trend detection logic.
1. 🧠 Smart Quality Control (Exclusive) The core difference in the Premium version is its ability to "think" before it draws.
Volatility Filtering: The script analyzes the slope of every potential trend. It automatically rejects unsustainable "pump/dump" moves and flat ranges, keeping only tradeable structures.
Wick Exclusion Logic: An advanced algorithm that ignores extreme volatility spikes (wicks), drawing channels based on candle body consolidation for higher precision.
2. 🏷️ Intelligent Labeling System Instant situational awareness. Every channel is auto-labeled (e.g., Mj Ext Up), so you know exactly which market phase (Major or Minor, Internal or External) you are trading in without guessing.
3. ⚡ Zero-Lag Optimization The code has been refactored for maximum efficiency, ensuring faster load times and smoother performance even on lower timeframes.
💎 Key Features
Dual-Layer Architecture: Simultaneously tracks Major Trends (for bias) and Minor Trends (for entries).
Dynamic Support & Resistance: The dotted midline acts as a high-probability reversal zone.
Institutional Grade Alerts: Fully customizable alerts for Breakouts and Reactions, complete with metadata for automated trading systems.
Auto-Tuning: Default settings are optimized for a balance of sensitivity and reliability, but fully customizable for specific assets (Crypto, Forex, Indices).
⚙️ Methodology (How It Works)
To comply with TradingView House Rules, here is the technical logic behind the script:
Pivot Detection: The script scans price action using a highly sensitive lookback period to find raw Pivot Highs and Lows.
Structure Mapping: It processes these points to define the Market Structure (HH, LL, LH, HL).
Validation Layer: Before rendering, the Smart Filter calculates the channel's duration and slope coefficient. If the channel is too short or too steep (violating the user-defined Max Slope threshold), it is discarded as "Market Noise."
Projection: Validated channels are drawn with dynamic extensions and fill zones.
🔒 How to Get Access
This is an Invite-Only script. Access is restricted to authorized users.
To Request Access: Please send me a private message on TradingView or check the links in my profile signature for more information.
Existing Members: If you have active access, the script will load automatically.
Disclaimer: Technical analysis tools are for educational purposes. Past performance does not guarantee future results.
Developed by Ali Gurtuna (AG Pro Series).
Troop ToolkitGENERAL OVERVIEW:
The Troop Toolkit indicator by Flux Charts is an all-in-one toolkit to identify Multi-Timeframe First Fair Value Gaps, Multi-Timeframe Inversion First Fair Value Gap, Fair Value Gaps, Buyside & Sellside Liquidity Levels, SMT Divergences, EQ Ranges, Efficient Candle Ranges, and Volume Imbalances. This indicator was developed by Flux Charts, utilizing concepts taught and traded by Andrew Macre.
ATTRIBUTION NOTICE:
This indicator incorporates concepts and source code from the indicator “Efficient Candle Range (ECR)” authored by @Joeyheick on TradingView. We have received full written permission from the original author to use and commercialize this code within this invite-only script.
Original script: Efficient Candle Range (ECR):
TROOP TOOLKIT FEATURES:
The Troop Toolkit indicator includes 8 main features:
Multi-Timeframe First Fair Value Gaps (FFVG)
Multi-Timeframe Inverse First Fair Value Gaps (IFFVGs)
Fair Value Gaps (FVG)
Buyside & Sellside Liquidity Levels
SMT Divergences
EQ Ranges (EQR)
Efficient Candle Ranges (ECR)
Volume Imbalances (VI)
Multi-Timeframe First Fair Value Gaps (FFVG):
The first feature of this indicator is Multi-Timeframe First Fair Value Gaps (FFVG). These are the first Fair Value Gaps (FVG) that form after a swing high or low is created.
🔹What is a Fair Value Gap?:
To properly understand First Fair Value Gaps (FFVGs), you must understand what a Fair Value Gap (FVG) is. A FVG is an area where the market’s perception of fair value suddenly changes. On your chart, it appears as a three-candle pattern: a large candle in the middle, with smaller candles on each side that don’t fully overlap it. A bullish FVG forms when a bullish candle is between two smaller bullish/bearish candles, where the first and third candles’ wicks don’t overlap each other at all. A bearish FVG forms when a bearish candle is between two smaller bullish/bearish candles, where the first and third candles’ wicks don’t overlap each other at all.
Examples of Bullish & Bearish FVGs:
🔹Why are Fair Value Gaps important?:
Fair Value Gaps show where price moved so quickly that one side of the market never got a chance to trade. They represent sudden shifts in what traders believe something is worth, where “fair value” changed. When a large candle drives straight through an area without overlap from the candles before and after it, it means buyers or sellers were so aggressive that the market skipped that price zone entirely.
These gaps matter because they mark the moment when confidence in price changes. If price rallies and never pulls back, it signals that traders accept the new higher prices as fair and are willing to keep buying there. The same logic applies in reverse for bearish gaps. They tell you where the market re-priced aggressively and where value was last accepted.
🔹What is a First Fair Value Gap?:
A First Fair Value Gap is the very first fair value gap that forms immediately after a new swing high or swing low. It marks the first sign of imbalance following a key turning point in price.
When a major swing low forms, the first bullish FVG that appears afterward shows where buyers first stepped in with enough strength to shift momentum upward. When a swing high forms, the first bearish FVG that appears afterward shows where sellers first regained control.
Because it’s tied directly to a confirmed swing point, an FFVG carries more weight than a regular FVG that forms randomly in the middle of a large move. It identifies where a new phase of price delivery begins, which is the first sign that the market is repricing after completing a prior leg.
🔹How are First Fair Value Gaps Detected?:
The indicator identifies First Fair Value Gaps (FFVGs) by starting with a swing high or swing low, which is detected using the 5-minute timeframe.
A swing high is formed when a candle’s high is higher than the two candles before and after it.
A swing low is formed when a candle’s low is lower than the two candles before and after it.
Each time a new swing high or low is confirmed, the indicator marks that area as a “pivot.” From that moment, the script begins looking for the first valid Fair Value Gap that forms after that swing.
To identify a First Fair Value Gap (FFVG), you should first identify a swing high and swing low. These are the most recent highest and lowest areas price reached. A bullish FFVG is the first bullish FVG that forms after a swing low. A bearish FFVG is the first bearish FVG that forms after a swing high.
This indicator automatically detects bullish and bearish FFVGs across the 1-minute, 2-minute, 3-minute, 4-minute, and 5-minute timeframes simultaneously. You will only be able to view FFVGs from timeframes that are equal to or less than your chart’s timeframe. For example, if you are using a 3-minute chart, you’ll only be able to view 1-minute, 2-minute, and 3-minute FFVGs, but not 4-minute or 5-minute FFVGs.
In the indicator settings, under the “FFVGs” section, you can toggle on/off which timeframes are used for FFVG detections. The following settings correspond to the following timeframes:
1 → 1-minute timeframe
2 → 2-minute timeframe
3 → 3-minute timeframe
4 → 4-minute timeframe
5 → 5-minute timeframe
In this screenshot, the chart timeframe is set to the 5-minute, and all the FFVG timeframes are enabled in the settings. Thus, 1-minute, 2-minute, 3-minute, 4-minute, and 5-minute FFVGs will be displayed on the chart.
The ‘Sweep Proximity’ setting determines how soon after a swing high/low the indicator will show the First Fair Value Gap. After a high/low forms, the indicator looks for the very first gap that forms and shows it, but only if it appears within the number of bars you choose. This distance is measured using your current chart timeframe. For example, on a 1-minute chart, a value of 6 means the FFVG must form within 6 bars (6 minutes) after the high/low is detected. Smaller values show only the most immediate FFVGs after a high/low forms. Larger values allow FFVGs to be detected farther away from the high/low, which may display more zones but can increase chart clutter. The default value is 6.
Users can also customize how FFVG zones appear. The settings let you change the color and transparency of bullish and bearish FFVGs, turn the midline on or off, and enable or disable FFVG labels. When labels are enabled, they show the timeframe the FFVG came from, making it easy to identify whether it was detected on the 1m, 2m, 3m, 4m, or 5m chart.
Multi-Timeframe Inversion First Fair Value Gaps (IFFVG):
The second feature of this indicator is Multi-Timeframe Inversion First Fair Value Gaps (IFFVG). These form when a FFVG is invalidated by a candle close on the 5-minute timeframe.
Bullish IFFVG: A bullish IFFVG forms when a 5-minute candle closes above a bearish FFVG, invalidating it.
Bearish IFFVG: A bearish IFFVG forms when a 5-minute candle closes below a bearish FFVG, invalidating it.
The IFFVGs will be displayed from all the timeframes that are enabled for FFVGs. For example, if only the 1-minute, 2-minute, and 3-minute FFVGs are enabled, then only IFFVGs from the 1-minute, 2-minute, and 3-minute timeframes will be displayed.
Users can also customize how IFFVG zones appear. The settings allow you to change the color and transparency of bullish and bearish IFFVGs, adjust the color of IFFVG borders, the thickness of the borders, turn the midline on or off, and enable or disable IFFVG labels. When labels are enabled, they show the timeframe the IFFVG came from, making it easy to identify whether it was detected on the 1m, 2m, 3m, 4m, or 5m chart.
Fair Value Gaps (FVG):
The indicator automatically detects regular bullish and bearish Fair Value Gaps (FVG). However, the indicator only plots FVGs that are NOT First Fair Value Gaps. This prevents FVGs and FFVGs from overlapping each other. There is no style customization for Fair Value Gaps. Users can only toggle them on or off through the indicator settings.
Liquidity Levels:
The indicator automatically plots Buyside & Sellside liquidity levels using user-specific session highs/lows and swing highs/lows.
Sessions used and their time periods (in EST):
Asia Session (20:00 - 00:00)
London Session (02:00 - 05:00)
NY AM Session (09:30 - 11:00)
NY PM Session (14:00 - 16:00)
All highs/lows that have not been ‘swept’, meaning price never crosses above (for highs) or below (for lows), will remain plotted on the chart. After a level is swept, it will become gray.
Swing Highs/Lows are plotted using the color selected from the ‘Colors’ setting under the ‘Liquidity Levels’ section. These levels are plotted with the following labels “ SSL” for lows and “ BSL” for highs. For example, “5M SSL” would be a 5-minute low.
The Asia Session Highs/Lows are plotted yellow with the following labels “Asia Low” & “Asia High”
The London Session Highs/Lows are plotted green with the following labels “London Low” & “London High”
The NY AM Session Highs/Lows are plotted orange with the following labels “NY AM Low” & “NY AM High”
The NY PM Session Highs/Lows are plotted blue with the following labels “NY PM Low” & “NY PM High”
Users can toggle these levels on/off, toggle session highs/lows on/off, toggle text labels on/off, and customize the colors used for swing highs/lows.
SMT Divergence:
This indicator automatically highlights SMT Divergences that occur between the current selected chart ticker and a second user-selected ticker.
A SMT Divergence forms when the prices of the currently selected chart ticker and the user-selected ticker don’t follow each other. For example, if the current chart’s ticker symbol is SEED_ALEXDRAYM_SHORTINTEREST2:NQ and the user-selected ticker is $ES. If SEED_ALEXDRAYM_SHORTINTEREST2:NQ does not sweep the low of the NY AM Session, but NYSE:ES sweeps that same exact session’s low during the same candle, then a SMT Divergence is detected.
In the images below, SEED_ALEXDRAYM_SHORTINTEREST2:NQ and NYSE:ES form a low at 10:45 AM on August 27th. At 11:30 AM, the 10:45 AM low is taken out on $NQ. However, on NYSE:ES , price failed to take out this exact low at 11:30 AM. Thus, an SMT Divergence is detected, and a bubble is plotted on the SEED_ALEXDRAYM_SHORTINTEREST2:NQ chart.
NYSE:ES Chart:
SEED_ALEXDRAYM_SHORTINTEREST2:NQ Chart:
When hovering over the SMT Divergence bubble, a textbox will appear which includes more information about the current SMT Divergence. These text boxes can include one of the following messages:
$TICKER failed high/low
$TICKER took high/low
$TICKER failed high/low
$TICKER took high/low
“$TICKER failed high/low” and “$TICKER failed high/low”: This textbox message occurs when the chart’s symbol creates a new high/low after a high/low formed, but the user-selected ticker fails to create a new higher high or lower low (similar to the SEED_ALEXDRAYM_SHORTINTEREST2:NQ and NYSE:ES example images above).
“$TICKER took high/low” and “$TICKER took high/low”: This textbox image occurs when the user-selected ticker creates a new higher high / lower low after a high/low formed, but the chart’s ticker fails to create a new higher high or lower low.
The indicator uses the levels described above in the ‘Liquidity Levels’ section to detect SMT Divergences. This includes all the session highs/lows and swing highs/lows.
Users can toggle on/off SMT Divergences through the settings. They can also change the ticker used for detections. Since SMT Divergences occur by comparing two tickers, the inputted ticker within the settings will always be compared to the current selected ticker on your chart.
Users can also adjust the colors used for SMT Divergence bubbles at highs and lows. By default, green bubbles appear when an SMT Divergence occurs from a low, and red bubbles appear when an SMT Divergence occurs from a high.
EQ Range:
The EQ Range shows you where price is finding fair value during the New York session. It does this by comparing two VWAP levels: one influenced by global trading and one driven by New York session volume. When both are available, it plots a live zone between them.
This zone updates every bar and extends to the right, so you can see where price may consolidate, stall, or snap back toward during the New York session. The EQ Range only appears during the New York session.
Within the indicator settings, users can toggle the EQ Range zone on/off.
Efficient Candle Range:
Efficient Candle Ranges (ECR) mark areas where the market is moving smoothly without one side (buyers or sellers) moving price aggressively. An “efficient candle” is simply a candle where the body is small compared to the whole candle and the wicks are fairly similar in size. That means buyers and sellers both participated, and price wasn’t pushed too far in either direction.
When one of these candles forms, the indicator creates a zone using its high and low. If more efficient candles appear in a row, the zone can widen to include any new highs or lows they create. The box continues to extend forward as long as price stays inside it.
If price closes outside the top or bottom of the box, the zone is no longer active and visually fades out. While active, it shows where the market is moving in a controlled way, which typically leads to pauses, retests, or a strong move once price breaks out of the range.
Within the indicator settings, users can customize the active ECR zone color, inactive ECR zone colors, and the text color for ECR labels. ECRs can be toggled on/off as well.
Volume Imbalance:
A Volume Imbalance forms when one candle does not properly overlap the trading range of the previous candle. For example, if a bullish candle opens above the previous candle’s close and price did not trade back down into that gap, there was no two-way trade in that price region. That means sellers never had a chance to transact there. The same applies in reverse for bearish moves. When that happens, there is a “missing volume” zone between the two candles because one side of the auction was skipped.
When the indicator detects that kind of gap, where the open and close relationship between two candles leaves untraded space, it marks that area with a box labeled “VI.” A bullish volume imbalance means buyers pushed through a level without sellers trading back into it. A bearish volume imbalance means sellers drove price lower without buyers filling in behind them.
Once price has fully filled the gap, meaning it traded back between the area that was skipped, the gap is deemed as inactive and removed from the chart.
In the settings, users can toggle on/off Volume Imbalances and also adjust the colors for Bullish VIs and Bearish VIs.
Important Notes:
TradingView has limitations when running features on multiple timeframes, such as FFVGs and IFFVGs, which can result in the following restriction:
Computation Error:
The computation of using MTF features is very intensive on TradingView. This can sometimes cause calculation timeouts. When this occurs, simply force the recalculation by modifying one indicator’s settings or by removing the indicator and adding it to your chart again.
UNIQUENESS:
The Troop Toolkit indicator solves a major workflow problem that has never been automated before on TradingView. The most important piece: automatic detection of First Fair Value Gaps (FFVGs) and their proper conversion into Inversion First Fair Value Gaps (IFFVGs). These two concepts require strict rules, swing validation, multi-timeframe comparison, and invalidation logic that traders can currently only do manually. There is no other indicator on TradingView that handles FFVG + IFFVG logic correctly across multiple intraday timeframes at once. Before this tool was created, traders had to manually scan five different timeframes every day and track every first fair value gap that formed after a significant high/low was formed. This took hours each week and was prone to inconsistencies. Troop Toolkit automates the entire process with clear validation rules, making this the first indicator to fully operationalize FFVG + IFFVG workflow.
Tristan's Devil Mark (Short / Long, with W%R)The Devil’s Mark indicator is a visual tool designed to help traders identify potential short and long opportunities based on candle structure and market momentum. It combines price action analysis with the Williams %R (W%R) oscillator to highlight candles with high potential for reversal or continuation.
Can be used on any timeline, from scalping day trades to swing trades on daily and higher timelines. Know that the higher the timeline the less likely the indicator will show. (Asia and London sessions tend to show many indicators. I find this more useful for NY session.)
How the script works
Candle Structure Conditions
Short (Sell) Wedge: Plotted above green candles that have no bottom wick, indicating that inside that candle there was strong upward momentum without downside hesitation .
Long (Buy) Wedge: Plotted below red candles that have no top wick, indicating that inside that candle there was strong downward momentum without upside hesitation .
These candles are visually emphasized as wedges to mark potential turning points.
Williams %R Filter
The indicator uses Williams %R to measure overbought and oversold conditions:
Proximity to 0 (nearZeroThresh): Determines how close W%R must be to 0 (overbought) to trigger a Sell Wedge. This acts as a “Sell sensitivity” filter.
Proximity to -100 (nearHundredThresh): Determines how close W%R must be to -100 (oversold) to trigger a Buy Wedge. This acts as a “Buy sensitivity” filter.
When the candle meets both the candle structure and the W%R condition, the wedge is plotted in purple (“Within W%R Range”).
When the "ignore W%R filter" toggle is on, all eligible candles are plotted regardless of W%R. Wedges that normally would not meet W%R criteria are plotted in light purple (“Outside W%R Range”) to distinguish them. #YOLO (🚫 I recommend leaving "Ignore W%R Filter" OFF)
Settings Explained
Williams %R Length: The number of bars used to calculate the W%R oscillator. Shorter lengths make it more sensitive; longer lengths smooth the readings.
Proximity to 0 / 100: Controls how “strict” the indicator is in requiring overbought or oversold W%R conditions to trigger. Lower values mean closer to extreme zones, higher values are more permissive.
Ignore W%R Toggle: Option to show Devil’s Marks on every eligible candle regardless of W%R. Useful for visualizing purely price-action-based signals.
What the trader sees
Purple wedges: Candles meeting both candle structure and W%R conditions.
Light purple wedges: Candles meeting candle structure but ignored W%R (when toggle is on). #YOLO (🚫 I recommend leaving "Ignore W%R Filter" OFF)
Short opportunities are wedges above bars (green candles with no bottom wick).
Long opportunities are wedges below bars (red candles with no top wick).
Trading Insight
The Devil’s Mark is a momentum and reversal alert tool:
Look for purple downward-pointing wedges when W%R is near overbought. This is a potential shorting opportunity. Buying at the close of that candle may improve your short trades.
Look for purple upward-pointing wedges when W%R is near oversold. This is a potential
long opportunity. Buying at the close of that candle may improve your long trades.
Light purple wedges show the same price-action cues without W%R confirmation—useful for aggressive traders who want every potential setup. #YOLO #YMMV #noFullPort
Settings / Security
The “Output values” checkbox appears for each plotted series (like a plot or plotshape) and controls whether the series will also be exposed numerically in the Data Window or used by other indicators/scripts.
Here’s what it means in practice:
1. Checked (true)
The series values (like candle high, low, or any computed value) are exported to the Data Window and can be read by other scripts using request.security() or ta functions.
Example: You can see the exact numerical value of each plotted point in the Data Window when you hover over the chart.
Useful if you want to backtest or reference these plotted values programmatically.
2. Unchecked (false)
The series is plotted visually only.
The numeric values are hidden from the Data Window and cannot be accessed by other scripts.
Makes the chart cleaner if you don’t need the numeric outputs.
Bollinger Band Screener [Pineify]Multi-Symbol Bollinger Band Screener Pineify – Advanced Multi-Timeframe Market Analysis
Unlock the power of rapid, multi-asset scanning with this original TradingView Pine Script. Expose trends, volatility, and reversals across your favorite tickers—all in a single, customizable dashboard.
Key Features
Screens up to 8 symbols simultaneously with individual controls.
Covers 4 distinct timeframes per symbol for robust, multi-timeframe analysis.
Integrates advanced Bollinger Band logic, adaptable with 11+ moving average types (SMA, EMA, RMA, HMA, WMA, VWMA, TMA, VAR, WWMA, ZLEMA, and TSF).
Visualizes precise state changes: Open/Parallel Uptrends & Downtrends, Consolidation, Breakouts, and more.
Highly interactive table view for instant signal interpretation and actionable alerts.
Flexible to any market: crypto, stocks, forex, indices, and commodities.
How It Works
For each chosen symbol and timeframe, the script calculates Bollinger Bands using your specified source, length, standard deviation, and moving average method.
Real-time state recognition assigns one of several states (Open Rising, Open Falling, Parallel Rising, Parallel Falling), painting the table with unique color codes.
State detection is rigorously defined: e.g., “Open Rising” is set when both bands and the basis rise, indicating strong up momentum.
All bands, signals, and strategies dynamically update as new bars print or user inputs change.
Trading Ideas and Insights
Identify volatility expansions and compressions instantly, spotting breakouts and breakdowns before they play out.
Spot multi-timeframe confluences—when trends align across several TFs, conviction increases for potential trades.
Trade reversals or continuations based on unique Bollinger Band patterns, such as squeeze-break or persistent parallel moves.
Harness this tool for scalping, swing trading, or systematic portfolio screens—your logic, your edge!
How Multiple Indicators Work Together
This screener’s core strength is its integration of multiple moving average types into Bollinger Band construction, not just standard SMA. Each average adapts the bands’ responsiveness to trend and noise, so traders can select the underlying logic that matches their market environment (e.g., HMA for fast moves or ZLEMA for smoothed lag). Overlaying 4 timeframes per symbol ensures trends, reversals, and volatility shifts never slip past your radar. When all MAs and bands synchronize across symbols and TFs, it becomes easy to separate real opportunity from market noise.
Unique Aspects
Perhaps the most flexible Bollinger Band screener for TradingView—choose from over 10 moving average methods.
Powerful multi-timeframe and multi-asset design, rare among Pine scripts.
Immediate visual clarity with color-coded table cells indicating band state—no need for guesswork or chart clutter.
Custom configuration for each asset and time slice to suit any trading style.
How to Use
Add the script to your TradingView chart.
Use the user-friendly input settings to specify up to 8 symbols and 4 timeframes each.
Customize the Bollinger Band parameters: source (price type), band length, standard deviation, and type of moving average.
Interpret the dashboard: Color codes and “state” abbreviations show you instantly which symbols and timeframes are trending, consolidating, or breaking out.
Take trades according to your strategy, using the screener as a confirmation or primary scan tool.
Customization
Fully customize: symbols, timeframes, source, band length, standard deviation multiplier, and moving average type.
Supports intricate watchlists—anything TradingView allows, this script tracks.
Adapt for cryptos, equities, forex, or derivatives by changing symbol inputs.
Conclusion
The Multi-Symbol Bollinger Band Screener “Pineify” is a comprehensive, SEO-optimized Pine Script tool to supercharge your market scanning, trend spotting, and decision-making on TradingView. Whether you trade crypto, stocks, or forex—its fast, intuitive, multi-timeframe dashboard gives you the informational edge to stay ahead of the market.
Try it now to streamline your trading workflow and see all the bands, all the trends, all the time!
ZenAlgo - RangerThe core of the indicator is the daily range, anchored around the 1-minute timeframe VWAP (volume-weighted average price), with ±2 standard deviations defining the upper and lower bounds. This range dynamically forms throughout the day and then gets “locked” at 23:59 each day to establish historical reference values.
The indicator calculates this locked VWAP and standard deviation per day, which serves two primary purposes:
Drawing today's real-time evolving range , updated each minute.
Plotting previous daily ranges , based on historical locked VWAPs and standard deviations, providing visual reference boxes on the chart.
This design enables the trader to identify mean-reversion zones and persistent directional biases based on volume-weighted price consensus.
Multiple Standard Deviation Layers
Beyond the ±2.0 deviation bounds, optional lines are available at half-step increments (e.g., ±0.5, ±1.5, ..., ±4.5) and full-step levels beyond ±2.0 (±3.0, ±4.0, ±5.0). These provide a customizable grid to visualize price extremes, tail behavior, or potential breakout zones relative to volume-adjusted price equilibrium.
Users can enable only the levels they need, offering flexibility depending on their strategy (e.g., scalping versus swing trading).
Historical Range Retention
The script stores up to 70 previous daily VWAP + standard deviation values (adjustable). For each, it draws a full range box and standard deviation lines in the past. This historical context helps in understanding how current price interacts with prior days’ balance zones.
These boxes are always drawn from 00:00 to 23:59 UTC , ensuring consistent alignment across instruments and avoiding session-based discrepancies.
Monday Range Reference (Drawn on Tuesdays)
On Tuesdays, the indicator plots the previous Monday's VWAP-based range across the rest of the week. This serves as a persistent contextual anchor for traders watching weekly unfolding behavior. The range is defined identically (VWAP ±2σ) and drawn from Monday 00:00 through the following Monday.
This method assumes Monday often sets the tone or structure for the week, and tracking this level through time may highlight support/resistance confluence or range expansion scenarios.
Each Monday range is extended over 7 days and includes dashed lines at the 25%, 50%, and 75% marks within the range. These midrange markers help traders assess microstructure behaviors (e.g., reversion to median, failure to hold midpoint, etc.).
Daily Volume Delta via 4H Candles
The indicator also integrates daily buy/sell volume deltas , derived from 4-hour candles of the regular session (non-Heikin Ashi). The logic categorizes volume as:
Buy volume when candle closes above the previous close.
Sell volume when it closes below.
Even split when the candle closes flat.
These volumes accumulate each day to derive net delta (buy - sell). This delta is recorded for each day and can optionally be displayed. A similar process tracks the delta for each Monday range on an ongoing basis.
This information quantifies the market’s aggressive buying vs. selling , correlating with price positions inside or outside the VWAP ranges. A strong delta in one direction may justify a price sustaining above/below VWAP, or diverging from the previous range.
Interpretation and Best Usage Practices
VWAP±2σ Range : Considered a high-probability area for consolidation or reversal. Mean-reverting strategies can benefit from signals within this area.
VWAP±3.0 and beyond : Extreme deviations may signal exhaustion or breakout potential, but are less frequent.
Previous Range Overlap : Overlap of today’s price with past VWAP zones may indicate support/resistance zones.
Monday Range on Tuesday : Persistent levels where the week may repeatedly pivot. Best used on instruments that exhibit weekly cyclical behavior (e.g., indices, forex).
Delta Behavior : Sharp positive or negative delta combined with price outside VWAP bands may suggest initiative participation and potential trend continuation.
Added Value Over Free Alternatives
While many free VWAP tools exist, this script differs in several specific and factual ways:
Anchored 1-minute VWAP lock at a consistent daily timestamp (23:59 UTC), enabling historical analysis.
Historical storage of previous VWAP ranges , with adjustable memory depth and visual continuity.
Flexible standard deviation plotting , down to 0.5 increments, tailored to the user's strategy needs.
Dedicated Monday range analysis , not common in freely available scripts.
Volume delta tracking per day and per Monday range , offering a directional volume view unavailable in standard VWAP implementations.
Persistent and visual interpretation framework using extended boxes and dashed lines for easier contextual navigation.
Each of these additions increases the script’s utility for methodical traders relying on volume-weighted statistics, without requiring additional configuration or external calculations.
Limitations and Disclaimers
VWAP based on 1-minute resolution : The indicator uses minute-level data to calculate daily VWAP and standard deviation. This offers high fidelity on liquid instruments but may produce noisy or unreliable levels on illiquid assets or during periods of low volume. For example, microcap stocks or thinly traded altcoins might not yield stable VWAP centers.
Inferred buy/sell volume : Volume delta is estimated using price movement from one candle to the next (close-to-close logic), rather than actual trade-level aggressor data (which is not accessible via TradingView). This approximation may misclassify volume in choppy or low-volatility environments, especially in assets where price changes do not correlate well with order flow (e.g., crypto during low-volume weekends).
Non-continuous markets and price gaps : For assets that do not trade continuously (e.g., stocks, futures), the VWAP calculation starts fresh every day at 00:00 UTC, regardless of the instrument’s official session start. As a result:
Pre-market/post-market trades may be included in VWAP when analyzing equities, even though they are often excluded in professional VWAP tools.
Opening gaps in equities and futures may distort early VWAP values due to lack of volume context, especially if the previous day's session was already closed when new data begins accumulating.
Weekend gaps in crypto, although less frequent due to 24/7 trading, can still influence delta accumulation if abrupt moves happen during low liquidity periods.
Daily session alignment : The VWAP anchoring and box drawing uses 00:00 UTC to 23:59 UTC windows. For instruments with different official session timings (e.g., US equities, CME futures), this may cause mismatches between expected session VWAPs and the ones shown in this script.
Conclusion
The ZenAlgo – Ranger script offers a systematic visualization of volume-adjusted price behavior, combining statistical VWAP ranges with volume delta overlays. By integrating daily and weekly reference zones, this tool supports structured decision-making in various market environments, particularly for traders prioritizing mean reversion, range expansion, or trend confirmation.
Moving Average Trend ToolsI. How M.A.T.T. Adds Value to the TradingView Community:
The "Moving Average Trend Tools" (M.A.T.T.) is a versatile Pine Script v6 indicator that empowers traders with clear trend analysis, reliable trade signals, and real-time insights. Its intuitive design and robust features make it a valuable addition to the TradingView Community Scripts by catering to traders of all levels. Here’s why it stands out:
Clear Trend Visualization: M.A.T.T. plots a moving average (MA) with dynamic coloring—green for rising, red for falling, and gray for flat—based on a user-defined lookback period. This simplifies trend interpretation, helping traders quickly assess market momentum.
Reliable Trade Signals : The script identifies price crossovers above or below the MA, plotting green circles for bullish crosses and red for bearish, confirmed on closed bars to prevent repainting. These signals guide entry and exit points for trend-following or reversal strategies.
Real-Time Extension Detection : M.A.T.T. calculates percentage price deviations from the MA, displaying real-time labels when thresholds (e.g., 6%) are exceeded. This highlights overextended moves, ideal for spotting reversals or pullbacks, with alerts to keep traders informed.
Extensive Customization : Traders can tailor the MA type (SMA, EMA, WMA, HMA), length, colors, line width, and label sizes. This flexibility supports diverse strategies across markets like stocks, forex, and crypto, from scalping to swing trading.
Automated Alerts : Alert conditions for crossovers and extensions integrate seamlessly with TradingView’s system, enabling traders to stay updated without constant chart monitoring.
M.A.T.T. combines trend analysis, signal generation, and overextension detection into a single, user-friendly tool. Its accessibility, reliability, and educational value for Pine Script learners make it a compelling contribution to the community.
II. What M.A.T.T. Does, How It Works, and Its Originality:
What It Does :
M.A.T.T. enhances trend analysis and trade decision-making through three core features:
Dynamic MA Visualization: Plots a customizable MA (SMA, EMA, WMA, or HMA) with trend-based coloring to reflect rising, falling, or flat market conditions.
Price Crossover Signals : Marks bullish (green circles) and bearish (red circles) crossovers, confirmed on closed bars, with alerts for trade opportunities.
Price Extension Labels : Displays real-time percentage deviations of price from the MA, with alerts when user-defined thresholds are breached, signaling potential reversals.
How It Works :
M.A.T.T. leverages Pine Script v6 for precise calculations and user-friendly outputs:
Inputs: Users select MA type, length, lookback period, colors, and thresholds for extensions, plus label styles and sizes for customization.
MA Calculation : A switch function computes the chosen MA (e.g., ta.ema(close, 21) for EMA). Trend direction is determined using ta.rising or ta.falling over the lookback period, coloring the MA accordingly.
Crossover Logic : Bullish crossovers (close > ma and close < ma ) and bearish crossovers (close < ma and close > ma ) are plotted as circles on confirmed bars (barstate.isconfirmed) to ensure reliability. Alerts trigger only on the first bar of a crossover.
Extension Logic : Percentage deviations are calculated as ((price - ma) / ma) * 100, using the high for above-MA extensions and low for below. Labels appear in real-time when thresholds are exceeded, with alerts on transitions to avoid noise.
Why It’s Original
M.A.T.T. distinguishes itself through a unique blend of features and thoughtful design:
All-in-One Design : It integrates dynamic MA coloring, non-repainting crossover signals, and real-time extension detection, addressing trend identification, trade signals, and overextension warnings in one tool—unlike most MA indicators that focus on a single aspect.
Real-Time Extension Labels : Displaying percentage deviations with customizable thresholds is a rare feature, ideal for volatile markets and not commonly found in standard scripts.
Non-Repainting Signals : Confirmed crossover signals enhance reliability for live trading, setting M.A.T.T. apart from less rigorous indicators.
Optimized Alert Condtions : Alerts trigger only on transitions (e.g., first bar of a crossover or extension), reducing noise and improving usability.
Visual and Functional Flexibility : Support for four MA types, extensive customization, and a clean interface (dynamic colors, tiny circles, clear labels) make it adaptable and user-friendly.
While MA plotting or crossovers exist elsewhere, M.A.T.T.’s seamless integration, real-time extension detection, alert conditions, and focus on reliability and customization create a distinctive, practical tool. Its balance of simplicity and sophistication makes it a unique asset for the TradingView community.
Fibonacci Retracement MTF/LOGIn Pine Script, there’s always a shorter way to achieve a result. As far as I can see, there isn’t an indicator among the community scripts that can produce Fibonacci Retracement levels (linear and logarithmic) as multiple time frame results based on a reference 🍺 This script, which I developed a long time ago, might serve as a starting point to fill this gap.
OVERVIEW
This indicator is a short and simple script designed to display Fibonacci Retracement levels on the chart according to user preferences, aiming to build the structure of support and resistance.
ORIGINALITY
This script:
Can calculate 'retracement' results from higher time frames.
Can recall previous time frame results using its reference parameter.
Performs calculations based on both linear and logarithmic scales.
Offers optional multipliers and appearance settings to simplify users’ tasks
CONCEPTS
Fibonacci Retracement is a technical analysis tool used to predict potential reversal points in an asset's price after a significant movement. This indicator identifies possible support and resistance levels by measuring price movements between specific points in a trend, using certain ratios derived from the Fibonacci sequence. It is based on impulsive price actions.
MECHANICS
This indicator first identifies the highest and lowest prices in the time frame specified by the user. Next, it determines the priority order of the bars where these prices occurred. Finally, it defines the trend direction. Once the trend direction is determined, the "Retracement" levels are constructed.
FUNCTIONS
The script contains two functions:
f_ret(): Generates levels based on the multiplier parameter.
f_print(): Handles the visualization by drawing the levels on the chart and positioning the labels in alignment with the levels. It utilizes parameters such as ordinate, confirmation, multiplier, and color for customization
NOTES
The starting bar for the time frame entered by the user must exist on the chart. Otherwise, the trend direction cannot be determined correctly, and the levels may be drawn inaccurately. This is also mentioned in the tooltip of the TimeFrame parameter.
I hope it helps everyone. Do not forget to manage your risk. And trade as safely as possible. Best of luck!
Helacator Ai ThetaHelacator Ai Theta is a state-of-the-art advanced script. It helps the trader find the possibility of a trend reversal in the market. By finding that point at which the three black crows pattern combines with the three white soldiers pattern, it is the most cherished pattern in technical analysis for its signal of strong bullish or bearish momentum. Therefore, it is a very strong predictive tool in the ability of shifting markets.
Key Highlights: Three White Soldiers and Three Black Crows Patterns
The script identifies these candlestick formations that consist of three consecutive candles, either bullish (Three White Soldiers) or bearish (Three Black Crows). These patterns help the trader identify possible trend reversal points as they provide an early signal of a change in the market direction. It is with great care that the script is written to evaluate the position and relationship between the candlesticks for maintaining the accuracy of pattern recognition. Moving Averages for Trend Filtering:
Two important ones used are moving averages for filtering any signals not in accordance with the general trend. The length of these MAs is variable, allowing the traders to be in a position to adapt the script for use under different market conditions. The moving averages ensure that signals are only taken in the direction that supports the general market flow, so it leads to more reliability within the signals. The MAs are not plotted on the chart for the sake of clarity, but they still perform a crucial function in signal filtering and can be displayed optionally for a more detailed investigation. Cooldown filter to reduce over-trading
This is part of what is implemented in the script to prevent generation of consecutive signals too quickly. All this helps to reduce market noise and not overtrade—only when market conditions are at their best. The cooldown period can be set to be adjusted according to the trader's preference, making the script more versatile in its use. Practical Considerations: Educational Purpose: This script is for educational purposes only and should be part of a comprehensive trading approach. Proper risk management techniques should be observed while at the same time taking into consideration prevailing market conditions before making any trading decision.
No Guaranteed Results: The script is aimed at bringing signal accuracy into improvement to align with the broader market trend and reducing noise, but past performance cannot guarantee future success. Traders should use this script within their broad trading approach. Clean and Simple Chart Display: The primary goal of this script is to have a clear and simple display on the chart. The signals are prominently marked with "BUY" and "SELL," and the color of the bars has changed according to the last signal, thus traders can easily read the output. Community and Open Source Open Source Contribution: This script is open for contribution by the TradingView community. Any suggestions regarding improvements are highly welcomed. Candlestick patterns, moving averages, and the combination of the cooldown filter are presented in such a way as to give traders something special, and any modifications or extra touch by the community is appreciated. Attribution and Transparency: The script is based on standard technical analysis principles and for all parts inspired by or derivated from other available open-source scripts, credit is given where it is due. In this way, transparency ensures that the script adheres to TradingView's standards and promotes a collaborative community environment.
Correlation Analysis Tool📈 What Does It Do?
Correlation Calculation: Measures the correlation between a selected asset (Asset 1) and up to four additional assets (Asset 2, Asset 3, Asset 4, Asset 5).
User Inputs: Allows you to define the primary asset and up to four comparison assets, as well as the period for correlation calculations.
Correlation Matrix: Displays a matrix of correlation coefficients as a text label on the chart.
🔍 How It Works
Inputs: Enter the symbols for Asset 1 (main asset) and up to four other assets for comparison.
Correlation Period: Specify the period over which the correlations are calculated.
Calculations: Computes log returns for each asset and calculates the correlation coefficients.
Display: Shows a textual correlation matrix at the top of the chart with percentage values.
⚙️ Features
Customizable Assets: Input symbols for one primary asset and up to four other assets.
Flexible Period: Choose the period for correlation calculation.
Correlation Coefficients: Outputs correlation values for all asset pairs.
Textual Correlation Matrix: Provides a correlation matrix with percentage values for quick reference.
🧩 How to Use
Add the Script: Apply the script to any asset’s chart.
Set Asset Symbols: Enter the symbols for Asset 1 and up to four other assets.
Adjust Correlation Period: Define the period for which correlations are calculated.
Review Results: Check the correlation matrix displayed on the chart for insights.
🚨 Limitations
Historical Data Dependency: Correlations are based on historical data and might not reflect future market conditions.
No Visual Plots Yet: This script does not include visual plots; it only provides a textual correlation matrix.
💡 Best Ways To Use
Sector Comparison: Compare assets within the same sector or industry for trend analysis.
Diversification Analysis: Use the correlations to understand how different assets might diversify or overlap in your portfolio.
Strategic Decision Making: Utilize correlation data for making informed investment decisions and portfolio adjustments.
📜 Disclaimer
This script is for educational and informational purposes only. Please conduct your own research and consult with a financial advisor before making investment decisions. The author is not responsible for any losses or damages resulting from the use of this script.
M Farm Scalper v4"M Farm Scalper v2" Trading Indicator on TradingView
Overview
This script uses a combination of indicators to help attempt the best view of when to exit and enter markets. The author has seen that usage of multiple indicators combined provided value and create profit.
1. Improved Signal Reliability
Combining swing highs and lows with Swing Failure Patterns (SFP) increases the reliability of the signals. Each indicator contributes different insights into market behavior:
Swing Highs and Lows: These help identify key support and resistance levels.
Swing Failure Patterns: These provide early warning signs of potential trend reversals when price fails to maintain new highs or lows.
2. Comprehensive Market Analysis
Using multiple indicators allows for a more comprehensive analysis of market conditions:
Trend Analysis: Swing highs and lows can indicate the overall trend direction.
Reversal Signals: SFPs highlight potential reversal points where the current trend might be weakening.
3. Enhanced Signal Strength
The script not only detects basic SFPs but also evaluates their strength by considering the number of failures within a specified range:
Strength of SFPs: By quantifying the strength of SFPs, the script can distinguish between weak and strong reversal signals. This helps traders prioritize stronger signals, reducing false positives.
4. Visual and Alert-based Trading
The combined use of these indicators improves both visual analysis and automated alert systems:
Visual Representation: Plotting different characters for swing points and SFPs makes it easier for traders to quickly interpret the chart.
Alerts: Automated alerts for specific conditions (like swing high/low failures) enable traders to respond promptly to significant market movements without constantly monitoring the charts.
5. Flexibility and Customization
The script includes parameters that allow traders to customize the behavior of the indicators based on their trading preferences:
Customization of Lookback Period (swingHistory): Traders can adjust this to fine-tune the sensitivity of swing point detection.
Selective Plotting (plotSwings, plotFirstSFPOnly, plotStrongerSFPs): These options provide flexibility in how much information is displayed on the chart, preventing clutter and focusing on relevant signals.
6. Minimized Noise and False Signals
By using a combination of indicators, the strategy aims to filter out market noise and reduce the likelihood of false signals:
Confluence of Signals: When multiple indicators align to provide a signal, it generally indicates a higher probability setup, thus reducing the chances of acting on false or less significant market moves.
7. Contextual Market Understanding
Combining indicators offers a more contextual understanding of market dynamics:
Market Context: Identifying both support/resistance levels (via swing points) and potential trend reversals (via SFPs) provides a fuller picture of market conditions, allowing traders to make more informed decisions.
Conclusion
Combining multiple indicators in the "M Farm Scalper v2" script is a strategic choice designed to enhance the robustness, reliability, and actionable quality of the trading signals. This approach leverages the strengths of each indicator to provide a well-rounded, comprehensive trading tool that aids traders in identifying high-probability trade setups and minimizing the risk of false signals.
ChatGPT can make mistakes. Check important info.
Introducing "M Farm Scalper v2" – an advanced proprietary trading indicator designed exclusively for the TradingView platform. This tool excels in identifying key swing points and Swing Failure Patterns (SFPs), offering traders unique visual and auditory cues to enhance decision-making. It's particularly tailored for the 5-minute timeframe but adaptable to suit a variety of trading styles.
Unique Features
Advanced Swing Point Detection: Leverages a sophisticated algorithm to detect swing highs and lows, integrating predictive analytics to forecast potential market reversals.
Dynamic Swing Failure Pattern Analysis: Employs a real-time analysis combining price action and volume data to pinpoint bullish and bearish reversal opportunities with high precision.
Innovative Visual and Auditory Cues: Features unique, easy-to-understand icons such as animals and fruits to represent market signals, simplifying complex market data into actionable insights.
Functionality
"M Farm Scalper v2" is crafted to deliver:
Configurable Parameters: Users can adjust settings including Swing History, visibility of swing points, and sensitivity for detecting stronger SFPs, making it highly customizable to fit individual trading strategies.
Clear, Actionable Outputs: Designed to offer straightforward visual signals directly on the trading chart, facilitating quick and effective decision-making.
Compliance and Originality
Original Integration of Features: This script combines several analytical techniques into a cohesive unit that surpasses the capabilities of existing open-source scripts in both originality and functionality.
Justification for Closed-Source: The proprietary nature of the algorithms and the unique method of data presentation are maintained as closed-source to protect the integrity and effectiveness of the tool, providing users with a reliable competitive advantage.
Application Instructions
To apply "M Farm Scalper v2," add it from the TradingView "Indicators" menu by searching for our script. Adjust the customizable settings as per your trading requirements and observe how the indicator’s outputs make market dynamics easy to interpret and act upon.
Chart Presentation
The accompanying chart is presented cleanly, focusing solely on the outputs of "M Farm Scalper v2." Each visual cue is annotated to demonstrate its relevance, ensuring that traders can easily understand and utilize the information provided without distraction.
Conclusion
"M Farm Scalper v2" is not just an indicator but an essential trading tool for those seeking precision and efficiency in their trading operations. Its advanced features and user-friendly design make it a valuable addition to any trader’s arsenal, especially for those involved in scalping and short-term trading.
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BitBell - EMA PullBack RSI EXO
🔵 Introduction
Version 1.1
This is a Pine 5 trend following strategy. It has a four strategy with several alerts and signals. The design intent is to produce a commercial grade signal generator that can be adapted to any symbol in cryptocurrency and only 1H Chart. Ideally, the script is reliable enough to be the basis of an automated trading system web-hooked to a server with API access to crypto brokerages. The strategy can be run in three different modes: long, short and bidirectional.
As a trend following strategy, the behavior of the script is to buy on strength and sell on weakness. As such the trade orders maintain its directional bias according to price pressure. What you will see on the chart is long positions on the left side of the mountain and short on the right. Long and short positions are not intermingled as long as there exists a detectable trend. This is extremely beneficial feature in long running bull or bear markets. The script uses multiple setups to avoid the situation where you got in on the trend, took a small profit but couldn’t get back in because the logic is waiting for a pullback or some other intricate condition.
Deep draw-downs are a characteristic of trend following systems and this system is no different. However, this script makes use of the TradingView pyramid feature with three NPUs to find better place and even you can change drop percentage in settings for another trigger, accessible from the properties tab.
When trend market break it will stop the trade and usually it takes 2-4 percent loss but don't worry it has prefect money management and you can use it for Futures market and even Spot market.
🔵 Design
This script uses twelve indicators on two time frames. The chart (primary) interval and one higher time frame which is based on the primary. The higher time frame identifies the trend for which the primary will trade. I’ve tried to keep the higher time frame around five times greater than the primary. The original trading algorithms are a port from a much larger program on another trading platform. I’ve converted some of the statistical functions to use standard indicators available on TradingView. The setups make heavy use of the Hull Moving Average in conjunction with EMAs that form the Bill Williams Alligator as described in his book “New Trading Dimensions” Chapter 3. Lag between the Hull and the EMAs form the basis of the entry and exit points. The alligator itself is used to identify the trend main body.
The entire script is around 740 lines of Pine code which is the maximum incidental size given the TradingView limits: local scopes, run-time duration and compile time. I’ve been working on this script for over a year and have tested it on various instruments stock crypto. It performs well on higher liquidity markets that have at least a year of historical data. Though it can be configured to work on any interval between 15 minutes and 4 hour, trend trading is generally a longer term paradigm. For day trading the 10 to 15 minute interval will allow you to catch momentum breakouts. For intraweek trades 30 minutes to 1 hour should give you a trade every other a day.
Inputs to the script use cone centric measurements in effort to avoid exposing adjustments to the various internal indicators. The goal was to keep the inputs relevant to the actual trade entry and exit locations as opposed to a series of MA input values and the like. As a result the strategy exposes over 12 inputs grouped into long or short sections. Inputs are available for the usual minimum profit and stop-loss as well as trade, modes, presets, reports and lots of calibrations. The inputs are numerous, I’m aware. Unfortunately, at this time, TradingView does not offer any other method to get data in the script. The usual initialization files such as cnf, cfg, ini, json and xml files are currently unsupported.
Example configurations for various instruments along with a detailed PDF user manual is available.
it has no repaint i guaranty this, and you can have 10 days free with comment and check it by yourself
One issue that comes up when comparing the strategy with the study is that the strategy trades show on the chart one bar later than the study. This problem is due to the fact that “strategy.entry()” and “strategy_close()” do not execute on the same bar called. The study, on the other hand, has no such limitation since there are no position routines. However, alerts that are subsequently fired off when triggered in the study are dispatched from the TradingView servers one bar later from the study plot. Therefore the alert you actually receive on your cell phone matches the strategy plot but is one bar later than the study plot.
Please be aware that the data source matters. Cryptocurrency has no central tick repository so each exchange supplies TradingView its feed. Even though it is the same symbol the quality of the data and subsequently the bars that are supplied to the chart varies with the exchange. This script will absolutely produce different results on different data feeds of the same symbol. Be sure to backtest this script on the same data you intend to receive alerts for. Any example settings I share with you will always have the exchange name used to generate the test results.
🟡 Usage
It sends long and short signals with pyramid orders of up to 3, meaning that the strategy can trigger up to 3 orders in the same direction. Good risk and money management.
It's important to note that the strategy combines 2 systems working together (Long and LongX). Let’s describe the specific features of this strategy.
🔵 If Findes Supports And Ressitances And Trend Lines As Best As It Can, And You Can See:
🟢 Frist Simple Long Condition = It Look At The Trend Wait For RSI Cross 30 Number Then Ckeck Risk To Reward, check something else such as divergence:
🟢 Another Long Example:
🔴 Frist Simple Short Condition = It Look At The Trend Wait For RSI Cross 70 Number Then Ckeck Risk To Reward, check something else such as divergence:
🔴 Another Short Example:
The following steps provide a very brief set of instructions that will get you started but will most certainly not produce the best backtest. A trading system that you are willing to risk your hard earned capital will require a well crafted configuration that involves time, expertise and clearly defined goals. As previously mentioned, I have several example configs that I use for my own trading that I can share with you along with a PDF which describes each input in detail. To get hands on experience in setting up your own symbol from scratch please follow the steps below.
The input dialog box contains over 12 inputs, There are four options must to be configured: Choose Target, side, Choose Settings, Money Management,and settings that apply to both. The following steps address these four main options only.
Money Management System For Leverage 10:
Bot Finds Last Lower Low And Calculate Distance From Entry Price, Then Cross It To Initial Capitan And Cross Leverage =>
Position_Size = (((1.64) * (initial Capital)) * (leverage))
And Check Dominances Too For Getting Best Money Management Result
🔵 Settings
* Side, You Can Set Long Or Short Or Both.
* Choose Target, You Can Set One Target Or All Targets.
* Money Management, You Can ON Or OFF It, With OFF You Can USE It For SPOT Trades.
* Choose Settings, In This Field You Can Set Mathematical Optimization, Ddepends On Which Pair You USE.
* Clear With Daily PullBack?, With This Check Box You Can Clear Signals With Daily PullBack.
* Long X, You Can Set Long Leverage.
* Short X, You Can Set Short Leverage.
* Second Order X, You Can Set Pyramiding Leverage.
* Target Long, You Can Set Percent For Long Target.
* Target Short, You Can Set Percent For Short Target.
* Short Martin Percent, You Can Set Short Martingale Percent.
* Long Martin Percent, You Can Set Long Martingale Percent.
🟡 Pyraming 3
🟡 Commission Is 0.065 %
🟡 Slippage Is 10 ticks
🔴Only Use For 1 Hour Chart
🔴 CONCLUSION
We believe that success lies in the association of the user with the indicator, opposed to many traders who have the perspective that the indicator itself can make them become profitable. The reality is much more complicated than that.
The aim is to provide an indicator comprehensive, customizable, and intuitive enough that any trader can be led to understand this truth and develop an actionable perspective of technical indicators as support tools for decision making.
🔴 RISK DISCLAIMER
Trading is risky & most day traders lose money. All content, tools, scripts, articles, & education provided by BitBell are purely for informational & educational purposes only. Past performance does not guarantee future results.
Machine Learning : Cosine Similarity & Euclidean DistanceIntroduction:
This script implements a comprehensive trading strategy that adheres to the established rules and guidelines of housing trading. It leverages advanced machine learning techniques and incorporates customised moving averages, including the Conceptive Price Moving Average (CPMA), to provide accurate signals for informed trading decisions in the housing market. Additionally, signal processing techniques such as Lorentzian, Euclidean distance, Cosine similarity, Know sure thing, Rational Quadratic, and sigmoid transformation are utilised to enhance the signal quality and improve trading accuracy.
Features:
Market Analysis: The script utilizes advanced machine learning methods such as Lorentzian, Euclidean distance, and Cosine similarity to analyse market conditions. These techniques measure the similarity and distance between data points, enabling more precise signal identification and enhancing trading decisions.
Cosine similarity:
Cosine similarity is a measure used to determine the similarity between two vectors, typically in a high-dimensional space. It calculates the cosine of the angle between the vectors, indicating the degree of similarity or dissimilarity.
In the context of trading or signal processing, cosine similarity can be employed to compare the similarity between different data points or signals. The vectors in this case represent the numerical representations of the data points or signals.
Cosine similarity ranges from -1 to 1, with 1 indicating perfect similarity, 0 indicating no similarity, and -1 indicating perfect dissimilarity. A higher cosine similarity value suggests a closer match between the vectors, implying that the signals or data points share similar characteristics.
Lorentzian Classification:
Lorentzian classification is a machine learning algorithm used for classification tasks. It is based on the Lorentzian distance metric, which measures the similarity or dissimilarity between two data points. The Lorentzian distance takes into account the shape of the data distribution and can handle outliers better than other distance metrics.
Euclidean Distance:
Euclidean distance is a distance metric widely used in mathematics and machine learning. It calculates the straight-line distance between two points in Euclidean space. In two-dimensional space, the Euclidean distance between two points (x1, y1) and (x2, y2) is calculated using the formula sqrt((x2 - x1)^2 + (y2 - y1)^2).
Dynamic Time Windows: The script incorporates a dynamic time window function that allows users to define specific time ranges for trading. It checks if the current time falls within the specified window to execute the relevant trading signals.
Custom Moving Averages: The script includes the CPMA, a powerful moving average calculation. Unlike traditional moving averages, the CPMA provides improved support and resistance levels by considering multiple price types and employing a combination of Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs). Its adaptive nature ensures responsiveness to changes in price trends.
Signal Processing Techniques: The script applies signal processing techniques such as Know sure thing, Rational Quadratic, and sigmoid transformation to enhance the quality of the generated signals. These techniques improve the accuracy and reliability of the trading signals, aiding in making well-informed trading decisions.
Trade Statistics and Metrics: The script provides comprehensive trade statistics and metrics, including total wins, losses, win rate, win-loss ratio, and early signal flips. These metrics offer valuable insights into the performance and effectiveness of the trading strategy.
Usage:
Configuring Time Windows: Users can customize the time windows by specifying the start and finish time ranges according to their trading preferences and local market conditions.
Signal Interpretation: The script generates long and short signals based on the analysis, custom moving averages, and signal processing techniques. Users should pay attention to these signals and take appropriate action, such as entering or exiting trades, depending on their trading strategies.
Trade Statistics: The script continuously tracks and updates trade statistics, providing users with a clear overview of their trading performance. These statistics help users assess the effectiveness of the strategy and make informed decisions.
Conclusion:
With its adherence to housing trading rules, advanced machine learning methods, customized moving averages like the CPMA, and signal processing techniques such as Lorentzian, Euclidean distance, Cosine similarity, Know sure thing, Rational Quadratic, and sigmoid transformation, this script offers users a powerful tool for housing market analysis and trading. By leveraging the provided signals, time windows, and trade statistics, users can enhance their trading strategies and improve their overall trading performance.
Disclaimer:
Please note that while this script incorporates established tradingview housing rules, advanced machine learning techniques, customized moving averages, and signal processing techniques, it should be used for informational purposes only. Users are advised to conduct their own analysis and exercise caution when making trading decisions. The script's performance may vary based on market conditions, user settings, and the accuracy of the machine learning methods and signal processing techniques. The trading platform and developers are not responsible for any financial losses incurred while using this script.
By publishing this script on the platform, traders can benefit from its professional presentation, clear instructions, and the utilisation of advanced machine learning techniques, customised moving averages, and signal processing techniques for enhanced trading signals and accuracy.
I extend my gratitude to TradingView, LUX ALGO, and JDEHORTY for their invaluable contributions to the trading community. Their innovative scripts, meticulous coding patterns, and insightful ideas have profoundly enriched traders' strategies, including my own.
Trend Reversal System with SR levelsHello All,
This is the Trend Reversal System with Support/Resistance levels script. long time ago I published it as closed source but now I upgraded it and and published as open-source with a different name. I hope it would be useful for you all while trading/analyzing.
The script has some parts in it: Setup, Count, SR levels, Risk levels & Targets . Now lets check them:
Setup Part: it has two part, Buy or Sell Setup. one of them can be active only. Buy setup: if current close checks if current is lower/equal than the close of the 5. bar. if yes then the script increases number of buy setup. and if it reaches 9 then the script checks if current low is lower/equal than the lows of last 3. and 4. bars, or if the low of the last bar is lower/equal than the lows of last 3. and 4. bars. if yes then the script increases the buy setup by 1. if these conditions met then it puts the label 'S' , same for Sell setup. S labels on both setup are potential reversals.
Count Part: If buy or sell setup reaches the 9 then Count part starts from 1. lets see buy count: If current close is lower/equal than the low of the 3. bar and buy count is lower than 12 or low of the bar 13 is less than or equal to the close of bar 8 then buy count increase or it's completed. if it's completed then the script puts C label, and it's potential reversal. of course there are some conditions that can cancel the count buy/sell or recycle/restart.
By using Setup and Count levels the script can show Support/Resistance Levels, Risk levels & Targets. SR levels are potential reversal levels.
Lets see some example screenshots:
Support/Resistance levels:
Potential Reversal levels and how setup/counts are shown:
Count part can recycle and the script shows it as 'R' , ( you can see the conditions for Recycle in the script ):
Count can be cancelled and and it's shown as 'x'
If the scripts find 9 on Setup or 13 on Count then it checks if it's a good level to buy/sell and if it decides it's good level then it shows TRSSetup Buy/Sell or TRSCount Buy/Sell and also shows the target. in following example the script checks and decide it's a good level to take long position. it can be aggressive or conservative, Conservative is recommended.
Enjoy!
Volume FootprintThe Volume Footprint chart is analyzing volume data from inside the candle and split them into Up and Down Volume in the same way as Volume Profile analyzes the volume data from a fragment of the chart.
The visualization is little different:
Down Volume (sells) are shown on the left side of a candle.
Up Volume (Buys) are shown on the right side of a candle.
User can pick data precision used by Volume Footprint. We recomend to use the highest possible precision.
Unfortunatelly Trading View has many limitations.
If after adding script nothing is visible with error: "'The study references too many candles in history'" you need to use lower precision - It can be changed in script settings.
This script is a part of a toolkit called "Volume Footprint", containing few tools:
Volume Footprint - Scripts drawing Volume Footprint chart.
Volume Footprint Statistics - Script showing table with basic statistics about Up and Down volume inside the candles.
Volume Delta In Candle - Chart showing history of delta (difference between Up and Down volume) changes inside the current candle.
Volume Cumulative Delta - Chart showing history of cumulative delta (sum of difference between Up and Down volume in trading period equal to chart interval).
This script can be used by any user. You do not need to have PRO or PREMIUM account to use it.
Script with limited access, contact author to get authorization
User Interface:
Script is grouping Up and Down Volume into slots based on price. Slots height is controled by "Slot height" param in settings.
On left side of a candle Down Volume is shown and on right side Up Volume is shown.
Before Down Volume may appear imbalance symbols:
⠀↓ - 3 times
⠀↡ - 5 times
⠀⇊ - 10 times
After Up Volume may appear imbalance symbols:
⠀↑ - 3 time
⠀↟ - 5 times
⠀⇈ - 10 times
Above the candle we can show some basic statistics of that candle:
"V:" - Row with volume statistics:
⠀∑ - Total volume,
⠀Δ - Difference between Up and Down Volume.
⠀min Δ - Smallest difference between Up and Down Volume in that candle
⠀max Δ - Biggest difference between Up and Down Volume in that candle
Script settings:
Slot height = 10^ - Price slot height on the chart:
⠀ 0 - 1$
⠀ 1 - 10$
⠀ 2 - 100$
⠀ 3 - 1000$
⠀-1 - 0.1$
⠀-2 - 0.01$
⠀-3 - 0.001$
Data precision - One of 6 levels of data precision: ▉▇▆▅▃▁, where ▉ means the highest precision and ▁ the lowest available precision. On 15 minute chart highest precision should be available, but on 1D it will probably hit TradingView limitations and script will not be even launched by the platform with error: "'The study references too many candles in history'". The general recommendation is to use the highest available precision for a given instrument and interval.
Precise warnings - Option to show precise warnings about missing volume in candle footprint (warning connected with one of TradingView limitations).
Draw candles - Option of drawing candles fiting to volume labels and 2 fields for picking colors of up and down candles. The general recommendation is to hide chart candles and turn on this option.
Show stats - Showing stats over the candle: ∑, Δ, min Δ, max Δ. You can use 'Volume Footprint Statistics' script instead
Font size - Used to draw all the data over the chart: T(iny), S(mall), N(ormal), L(arge)
Centered - If checked volume labels are stick to candle (centered).
Color values - Option to draw labels with use of Up or Down color, depending which value (Volume Up or Volume Down) is bigger in the price slot.
Filter - Filtering option than allow hinding labels with small values:
⠀0 - filter turned off.
⠀1-5 - filtering with transparency
⠀6-10 - Filtering with hiding values.
Show zeros - It can show zeros or leave empty places
Highlight biggest slot - Option to highlight price slot with biggest volume in the candle.
Imbalances - Showing imbalance symbols before Down or after Up Volume
Only over average - Showing imbalances symbols only for volume not smaller than the average value.
Value area - Option to identify group of slots with biggest volume in each candle. A group is a smallest set of neighboring slots that have at least n(param) % of candle volume .
⠀ Value Area Minimal Volume (%) - Value area size as % of candle volume .
⠀ Color - Color of the Value area.
⠀ Show borders - Showing border lines of value areas over the candle.
⠀ Track - Option to track value areas. Potencial Support-Resistance zones.
⠀ Only active - Hide areas that were crossed by the price.
Show Values - Show volume value over tracked value areas.
Troubleshooting:
In case of any problems, send error details to the author of the script.
Known issues:
"The study references too many candles in history" - Change "Data precision" settings to some lower value.
MTFindicatorsQuite recently TradingView added the possibility to create and use Libraries in PineScript. With this feature PineScript became higher quality of coding language overnight. Libraries enable splitting your code into multiple files, providing easier access to code reusability.
I was working on a script which included 3000 lines of code, which was recompiling 1:30 min, and recalculating over 1 minute as well. So I split it into 2 parts: main part + library containing "main logic", which I reuse in variety of scripts, but don't change too often. Result? Now recompilation of my main script takes 10 and recalculation 8 seconds!!!. I instantly fell in love with libraries.
Having said that, and being dedicated hater of security() calls, I have decided to publish a library of MTF indicators created with my own approach: "dig into formula". I have explained reasons for such approach in desription to this script:
So this library script will be a set of indicators reaching to higher timeframes. Just include one line at the beginning of the script you are creating:
import Peter_O/MTFindicators/1 as LIB
and then somewhere is the code add this line:
rsimtf=LIB.rsi_mtf(close,5,14)
All of a sudden you have access to rsimtf from 5x higher timeframe without any hassle :)
I start with RSI MTF, next ones will be ADX, Stochastic and some more. I will update this library with them here as well. Feel free to request particular indicators in comments. Maybe PSAR? Maybe Bollinger Bands?
Exponential MA Channel, Daily Timeframe (Crypto)Moving averages are some of the most common tools for traders. Some of the most widely used ones are simple moving averages (e.g. 20SMA, 50 SMA, 100 SMA, 200SMA,...). There are endless combinations of moving averages that can be used. I prefer to use exponential moving averages because they react more quickly to price data (essentially they filter back through the data over a discrete number of timesteps, with more recent history receiving the highest weighting in the final calculation).
This script uses a combination of the 21EMA, 53 EMA, and 100EMA. The idea of this script is to provide insight into when an asset might be close to a local top/bottom by monitoring price within the middle channel (yellow, blue, and orange lines), as well as identifying longer timeframe opportunities to buy/sell by examining the upper (green) and lower (red) bands. Disclaimer: this is not a guarantee that if price enters a region, that it will be a top or bottom, it is simply an indicator to get an idea based on price history.
As far as I know, this particular combination of exponential moving averages has not yet been published. I do not have an infinite amount of time to check through the entire library of published scripts. If someone else has already done this, I was unaware. Numerical computations were performed on ETHBTC price data in order to find the coefficients used in this script. Essentially, each EMA has a multiplier of either 1, a fraction of 1, or a number larger than 1 (these are the numbers in the script being multiplied by 'out1', 'out2', 'out3'; feel free to change these and see how this changes the indicator). I have found it to be useful for myself, and hope other people can tinker with this idea. My only wish is to allow other people to use this starting point to explore for themselves. I hope that I am allowed to publish this script without it being taken down so that others can freely use it.
Recommendations: although this was fit specifically for ETHBTC, it appears useful for many crypto pairs, specifically alt-BTC pairs and crypto-USD pairs. For example, I have found it useful for BTCUSD, ETHUSD, LINKUSD, LINKBTC, ETHBTC, ADABTC, etc. Only use on the DAILY timeframe.
High time frame Pivot Anchored VWAP V1.0Purpose:
-----------
To provide VWAPs anchored on the high and low pivots. I have seen scripts which anchor VWAP on a session or time frame or indeed a time, but not yet one that anchors on pivot points.
Value:
--------
As many have stated, price action tends toward VWAPs. I named the VWAPs anchored on high pivots the Selling VWAP, representing the volume weighted average of the sellers. And the VWAPs anchored on the low pivots, Buying VWAP, representing the volume weighted average of the buyers.
One of these two governs the current price action.
What is unique about this script:
---------------------------------------
- Locates pivots also found in higher time frames (it does not use the Security Function, technically it does not locate high time frame pivots)
- It uses a simple technique to locate the pivots that avoids using "For Loops" , typically used with HTF Pivots and at times can cause time outs
- VWAPs are then anchored on the pivots
- High Pivots are anchored with a VWAP using the High price as the source
- Low Pivots are anchored with a VWAP using the Low price as the source
How to Use It
-----------------
- Choose the higher time frame pivots of interest, the script uses current time frame multiplier
- so on a 1 minute chart, 60 is 1 hour. On a 5 min chart the same multiplier would be 5 hours.
- Choose how many of the higher time frame bars define the pivot, the right side and left side
- the default is 8 and 4, for a 60 multiplier on a 1min chart it implies 4hrs right of the pivot and 8 hrs left of the pivot.
- A Vidya moving average is included
- When the ma crosses over the Selling VWAP then the system is dominated by the buyers and the Buying VWAP provides support
- When the ma crosses under the Buying VWAP then the system is dominated by the sellers and the Selling VWAP provides resistance
It helps by keeping you in a trade, also by using the support/resistance to add to a position.
I make those decisions in the script, and display only the dominating VWAP
Acknowledgements
------------------------
PineCoders for their functions on managing resolution.
LucF for his work on high time frame pivots.
Future considerations
--------------------------
- Provide option to show both VWAPs
- Use a different ma, such as VWMA, or provide a choice.
- Open the script, version 1.0 being what it is
