Fibonacci Retracement + Pivot Points + RSI / Owl of ProfitFibonacci Retracement + Pivot Points + RSI Strategy
This strategy combines Fibonacci Retracement, Pivot Points, and the Relative Strength Index (RSI) to identify key support/resistance levels, overbought/oversold conditions, and potential trade opportunities.
Features:
Fibonacci Retracement Levels:
Key levels (38.2%, 50%, 61.8%) are plotted to identify potential support and resistance zones.
Helps traders determine possible reversal or bounce points.
Pivot Points:
Automatically detects swing highs and lows on the chart.
Assists in locating key levels for entry or exit.
Relative Strength Index (RSI):
Identifies overbought (above 70) and oversold (below 30) conditions.
Provides additional confirmation for trades.
Entry and Exit Conditions:
Buy Signal: Triggered when the price bounces from a Fibonacci retracement level and RSI is below 30 (oversold).
Sell Signal: Triggered when the price rejects a Fibonacci retracement level and RSI is above 70 (overbought).
Customization Options:
Adjust Fibonacci levels, pivot point sensitivity, and RSI thresholds to suit different markets and trading styles.
Visualization:
Fibonacci retracement levels and pivot points are displayed directly on the chart.
RSI is plotted in a separate panel, with overbought/oversold levels clearly marked.
This strategy is designed for educational and testing purposes. Use it as a foundation for further backtesting and adapting to your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
تحليل الاتجاه
EMA 9 a 21 + Stochastic RSI / Owl of ProfitEMA 9/21 + Stoch RSI Strategy
This strategy combines Exponential Moving Averages (EMA) with Stochastic RSI to identify high-probability trading opportunities by analyzing both trend direction and overbought/oversold conditions.
Features:
Exponential Moving Averages (EMA):
Tracks short-term (9-period) and mid-term (21-period) trends.
Crossover signals are used to determine bullish and bearish trends.
Stochastic RSI:
Identifies overbought and oversold market conditions.
Adds a layer of confirmation to EMA crossovers, improving signal quality.
Entry and Exit Conditions:
Long Entry: Triggered when EMA 9 crosses above EMA 21 (bullish crossover) and Stochastic RSI is below the oversold threshold (default: 20).
Short Entry: Triggered when EMA 9 crosses below EMA 21 (bearish crossover) and Stochastic RSI is above the overbought threshold (default: 80).
Positions are closed when the opposite signal occurs.
Customization Options:
Adjust EMA and Stochastic RSI lengths to suit your trading preferences.
Modify overbought and oversold levels for different market conditions.
Visualization:
Plots EMA 9 and EMA 21 directly on the price chart for trend analysis.
Displays Stochastic RSI in a separate panel for clear visualization of overbought/oversold zones.
This strategy is designed for educational and testing purposes. Use it as a foundation for further backtesting and adapting to your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
EMA 9/21 + ATR Stop-Loss / Owl of ProfitEMA 9/21 + ATR SL Strategy
This strategy combines Exponential Moving Averages (EMA) with a Stop-Loss based on the Average True Range (ATR) to create a robust trend-following system with volatility-based risk management.
Features:
Exponential Moving Averages (EMA):
Tracks short-term (9-period) and mid-term (21-period) trends.
Crossover signals indicate bullish or bearish trends for trade entries.
Average True Range (ATR):
Dynamically calculates Stop-Loss levels based on market volatility.
Protects trades by adapting to changing market conditions.
Entry and Exit Conditions:
Long Entry: Triggered when EMA 9 crosses above EMA 21 (bullish crossover).
Short Entry: Triggered when EMA 9 crosses below EMA 21 (bearish crossover).
Positions are exited when the Stop-Loss level, calculated using ATR, is hit.
Customization Options:
Adjust the periods for EMA and ATR to suit different trading styles or markets.
Modify the ATR multiplier for tighter or looser Stop-Loss levels.
Visualization:
EMA 9 and EMA 21 are plotted directly on the price chart for clear trend identification.
ATR-based Stop-Loss levels are dynamically calculated for each trade.
This strategy is designed for educational and testing purposes. Use it as a foundation for further backtesting and adapting to your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
EMA 9 + EMA 21 / Owl of ProfitEMA 9 + EMA 21 Strategy
This simple yet effective strategy uses the Exponential Moving Average (EMA) crossover method to identify trend reversals and generate buy and sell signals.
Features:
Exponential Moving Averages (EMA):
Tracks short-term (9-period) and mid-term (21-period) trends.
Crossover signals are used to determine potential entry and exit points.
Entry and Exit Conditions:
Long Entry: Triggered when EMA 9 crosses above EMA 21 (bullish crossover).
Short Entry: Triggered when EMA 9 crosses below EMA 21 (bearish crossover).
Positions are closed immediately when an opposite crossover occurs.
Customization Options:
Easily adjust the periods of EMA to suit different trading styles or asset classes.
Visualization:
Both EMAs are plotted directly on the price chart for clear trend identification.
Long and short signals are executed based on crossover events.
This strategy is designed for educational and testing purposes. Use it as a foundation for further backtesting and adapting to your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
EMA12 + EMA26 + MACD + RSI / Owl of ProfitEMA 12 + EMA 26 + MACD + RSI Strategy
This strategy combines Exponential Moving Averages (EMA), MACD, and RSI to identify high-probability trading opportunities. It uses trend, momentum, and overbought/oversold conditions to refine entry and exit points.
Features:
Exponential Moving Averages (EMA):
Tracks short-term (12-period) and long-term (26-period) trends for crossover signals.
MACD Indicator:
Confirms trend strength and momentum using the MACD line and Signal line crossover.
Includes a histogram for visualizing bullish or bearish momentum.
RSI (Relative Strength Index):
Identifies overbought and oversold conditions to avoid entering trades in extreme zones.
Entry Conditions:
Long Entry: Triggered when EMA12 crosses above EMA26, MACD crosses above the Signal line, and RSI is below 70.
Sell Exit: Triggered when EMA12 crosses below EMA26, MACD crosses below the Signal line, and RSI is above 30.
Customization Options:
Modify lengths for EMA, MACD, and RSI to suit your trading preferences.
Visualization:
Plots EMA12 and EMA26 on the price chart for trend identification.
Displays MACD histogram and RSI in separate panels for momentum and strength analysis.
Entry and exit signals are clearly marked on the chart.
This strategy is designed for educational and testing purposes. Use it as a foundation for backtesting and adapting to your trading style.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
EMA 12 + EMA 26 + MACD / Owl of ProfitEMA 12 + EMA 26 + MACD Strategy
This strategy combines Exponential Moving Averages (EMA) with the MACD indicator to identify bullish and bearish market trends. It includes dynamic stop-loss and take-profit levels for risk management.
Features:
Exponential Moving Averages (EMA):
Tracks short-term and long-term trends using 12-period and 26-period EMAs.
Provides clear crossover signals for trend direction.
MACD Indicator:
Analyzes momentum and confirms entry signals using the MACD line and Signal line crossover.
Includes a histogram for visualizing bullish and bearish momentum.
Entry Conditions:
Long Entry: Triggered when the short EMA crosses above the long EMA and MACD is above the Signal line.
Short Entry: Triggered when the short EMA crosses below the long EMA and MACD is below the Signal line.
Exit Conditions:
Dynamic Stop-Loss and Take-Profit levels based on user-defined percentages.
Positions are also closed when the EMA or MACD signals reverse.
Customization Options:
Adjust EMA lengths for sensitivity to trends.
Modify MACD settings (fast, slow, and signal periods).
Set Stop-Loss and Take-Profit percentages for risk and reward management.
Visualization:
Plots short and long EMAs directly on the chart for easy trend identification.
Includes MACD and Signal line with a histogram in a separate panel for momentum analysis.
Entry and exit signals are clearly marked on the chart.
This strategy is designed for educational and testing purposes. Use it as a foundation for backtesting and adapting to your trading style.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Price & P/E Regression with Mean Reversion Zones (6 Years)This indicator is designed to analyze the relationship between a stock's price and its price-to-earnings (P/E) ratio relative to their respective regression trends over a six-year period. Based on research, the indicator highlights mean reversion zones—areas where price and P/E deviate significantly from their historical averages. These zones signal potential overvaluation or undervaluation, providing insights into whether a stock is trading above or below its fair value. By incorporating regression analysis, the tool identifies long-term price and valuation trends, while mean reversion dynamics help anticipate possible corrections or continuations. This approach combines price momentum, valuation insights, and historical behavior to inform both short-term trading opportunities and long-term investment decisions.
Donchian Channels + Volume Strategy / Owl of ProfitDonchian Channels + Volume Strategy
This strategy combines Donchian Channels with Volume analysis to identify potential breakout opportunities and confirm them with volume strength. It is designed to capture trend reversals and breakouts based on price action and volume dynamics.
Features:
Donchian Channels:
Tracks the highest high and lowest low over a customizable period.
Provides dynamic support and resistance levels for breakout identification.
Volume Confirmation:
Uses a Volume SMA to validate breakout signals by ensuring above-average volume.
Entry Conditions:
Long: Triggered when the price crosses above the previous upper Donchian Channel, with volume greater than the average.
Short: Triggered when the price crosses below the previous lower Donchian Channel, with volume greater than the average.
Exit Conditions:
Long Exit: Triggered when the price crosses below the current lower Donchian Channel.
Short Exit: Triggered when the price crosses above the current upper Donchian Channel.
Customization Options:
Adjust the Donchian Channel period for breakout sensitivity.
Modify the Volume SMA period to fine-tune volume confirmation.
Visualization:
Dynamic Donchian Channels plotted with shaded areas for better zone visibility.
Visual markers for entry and exit signals directly on the chart.
This strategy is designed for educational and testing purposes. Use it as a foundation for backtesting and adapting to your trading style.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Monthly Start LinesThis script automatically draws vertical lines on the chart at the start of each new month
D Vortex / Owl of ProfitVortex Strategy with Signals
This strategy uses the Vortex Indicator (VI) to identify bullish and bearish trend reversals. It visualizes clear buy and sell signals based on the crossover of VI+ and VI- lines.
Features:
Vortex Indicator Calculation:
Calculates VI+ and VI- using smoothed values of directional movement and true range.
Identifies directional trends based on the relationship between VI+ and VI-.
Entry Conditions:
Long: Triggered when VI+ crosses above VI- (bullish crossover).
Short: Triggered when VI+ crosses below VI- (bearish crossover).
Visualization:
Plots VI+ (green) and VI- (red) for trend analysis.
Buy and sell signals are marked with clear labels on the chart (green for "BUY" and red for "SELL").
Customization Options:
Adjust the Vortex period for sensitivity to market trends.
This strategy is designed for educational and testing purposes. Use it as a foundation for further backtesting and adapting to your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Consolidation Zone (LonesomeTheBlue) / Owl of Profit remakeConsolidation Zones - Live (LonesomeTheBlue)
This strategy, created by LonesomeTheBlue, identifies consolidation zones on the chart and detects potential breakout opportunities. It uses pivots and price ranges to define areas of consolidation and generates alerts when price breaks above or below these zones.
Special thanks to LonesomeTheBlue for the inspiration!
License:
This code is licensed under the Mozilla Public License 2.0
More details at: mozilla.org
Features:
Consolidation Zone Detection:
Identifies areas of price consolidation based on pivot highs and lows.
Dynamically updates consolidation zones with upper and lower boundaries.
Breakout Alerts:
Detects breakouts when the price moves outside the consolidation zone.
Alerts for both Breakout Up and Breakout Down scenarios.
Customization Options:
Adjust the Loopback Period for pivot detection.
Define the minimum number of candles for consolidation.
Enable/disable zone shading with customizable colors.
Entry Conditions:
Long: Triggered when price breaks above the consolidation zone.
Short: Triggered when price breaks below the consolidation zone.
Visualization:
Upper and lower zone boundaries plotted with dashed lines.
Optional zone fill for easier identification of consolidation areas.
This strategy is designed for educational and testing purposes. Use it as a foundation for backtesting and adapting to your trading style.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
CCI / Owl of ProfitCCI Strategy Example
This strategy uses the Commodity Channel Index (CCI) to identify potential long and short trading opportunities. It features customizable smoothing options and optional Bollinger Bands for added precision.
Features:
CCI Calculation:
CCI is calculated using the source (default: HLC3) with customizable period length.
Plots CCI values along with key levels (+100, -100, and 0) to identify overbought/oversold conditions.
Smoothing Options:
Includes various moving average types: SMA, EMA, SMMA (RMA), WMA, and VWMA.
Optionally applies Bollinger Bands to the smoothed CCI values for dynamic overbought/oversold levels.
Entry Conditions:
Long: Triggered when CCI crosses above -100.
Short: Triggered when CCI crosses above +100.
Customization Options:
Adjust CCI length and source (e.g., close, hlc3).
Select MA type and length for smoothing.
Enable Bollinger Bands with customizable standard deviation multiplier.
Visualization:
Clear CCI plot with shaded background for oversold and overbought zones.
Optional smoothed CCI with Bollinger Bands for advanced analysis.
This strategy is designed for educational and testing purposes. Use it as a foundation for backtesting and adapting to your trading needs.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Bollinger Bands Filter (TradeChartist) / Owl of Profit remakeThis strategy, created by TradeChartist, uses Bollinger Bands to filter market conditions and generate precise signals for long and short positions based on price action relative to the Bollinger Bands.
Special thanks to TradeChartist for the inspiration!
Features:
Bollinger Bands Logic:
Long Entry: Triggered when the price crosses above the upper Bollinger Band.
Short Entry: Triggered when the price crosses below the lower Bollinger Band.
Customizable Settings:
Adjust the SMA period and Standard Deviation multiplier for Bollinger Bands to suit your trading style.
Enable or disable bar coloring based on Bollinger Bands logic.
Alerts and Visualization:
Clear alerts for both Long and Short signals.
Visual signals with triangle markers directly on the chart.
Shaded Bollinger Bands with customizable transparency for easier zone identification.
Bar Coloring:
Green for bullish conditions when the price is above the upper band.
Red for bearish conditions when the price is below the lower band.
This strategy is designed for educational and testing purposes. Use it as a foundation for backtesting and customization to your trading approach.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Refined Highs and Lows MarkerSince having been at this Trading thing since 1983 I know for a fact that marking and following Highs and Lows and the Higher highs and Lower lows in between "Tops" and "Bottoms" since nearly the beginning of time. This script shows those highs and lows based on three candles where the middle candle will be your Hi or Lo. The idea here is to at say a "Bottom" to locate the Red lowest Lo, then a red or Green Hi and finally a "Green" higher Lo. This outline typically can indicate a reversal point. The same is also true of "Tops" in where you will see the "green" highest hi followed by a green or red Lo. The last point should be a "RED" lower Hi from which to potentially sell. The script does not always abandon a Hi for a newer hi where there is no lo between them, and the same is also true of lows. You can manually place in a triangle icon and putting a proper color to it. Higher "Highs" and higher "Lows" are marked in Green and lower highs and lower lows are marked with red. I personally use a 13 SMA which shows candles/price fully below it when heading down and fully above the SMA when heading up. This script should be used in conjunction with perhaps one other indicator of your preference. Enjoy and build.
TF_VXMV Active Trend FollowingTF_VXMV Active Trend Following Algorithm
// Version 1.1
// Date : 26. June 2023
// (28/06/2023) Update 1.1 : added crypto as input.
// Scope:
// - can be used for Stocks, Futures, Indices, Bonds, ETFs, Forex
// Features:
// - the algorithm adjusts the stop-loss multiplier according to the market cap of the security (stocks only)
// - furthermore the multiplier gets adjusted by the VIX regime that is currently prevailing (high vol-> increased multiplier)
// - all multipliers have default values prescribed that are derived from benchmark calibration back-tests, they can be
// manually adjusted in TradingView indicator settings.
//
// The original algorithm is based on Wilders Trend Following algorithm.
// Details can be found in his book, or better in the two papers that were published on the indicator, which can be found here
// (1) www.researchgate.net
// (2) www.researchgate.net
//
// Copyright ©TradeFlags, Andreas Aigner 2023
// For implementation of this algorithm into your own application please contact me.
IB of New Hour (Customizable)Purpose: Tracks first x candles of each hour to define a price range
Customizable settings:
Border color of the IB box
Fill color of the IB box
Number of candles to define IB
Box width in hours (1-24)
Functionality:
Calculates highest high and lowest low for specified number of candles
Creates a rectangular box representing the initial balance
Adapts to different timeframes (1, 5, 15, 30, 60-minute charts)
Limits storage of boxes to prevent memory overload
Box Placement:
Starts at first candle of the hour
Width calculated based on current timeframe and user-specified hours
Maintains consistent visual representation across different chart timeframes
Indicator for helping you with bias
Levels from All-Time HighJust an easy script to track percentage distance from recent all time highs. You can customize the color and the percentages from the all time highs. These zones can mark great opportunities to buy.
Stochastic RSI - 8 TimeframesStochastic RSI - 8 Timeframes (English version)
To configure this indicator, follow the step-by-step below:
Select the setting button in the chart of Stoch RSI MTF:
INPUTS - The first tab of setting :
K = (Smooth K) standard input is 3 and minimun is 1
D = (Smooth D) standard input is 3 and minimun is 1
The RSI lenght and Stochastic lenght standards are 14 candles (for all kinds of timeframes)
RSI Source = close (standard)
Setting and Organize the Timeframe for each channel (1 to 8) --> Default is set from smallest timeframe to largest >>
{Timeframe 1 >> 1 minute, Timeframe 2 >> 5 minutes, Timeframe 3 >> 15 minutes, Timeframe 4>> 1 hour,
Time frame 5 >> 4 hours, Timeframe 6 >> 1 day, Timeframe 7 >> 1 week, Timeframe 8 >> 1 month}
STYLE - The second tab of setting
Select which channel 1 to 8 will be activated throught the K or D curves or boths can be selected
Select the RSI bands (upper, middle and lower)
Colors for configuration: All colors are already configured and follow the sequence (for Knowledge):
1 minute: red (#f23645) - all colors are in 100% opacity
5 minutes: orange (#ff9800)
15 minutes: yellow (#ffeb3b)
1 hour: green (#4caf50)
4 hours: blue (#2962ff)
1 day: Purple (#9c27b0)
1 week: Pink - Light (#f48fb1)
1 month: Pink 400 (#ec407a)
VISIBILITY - The third tab of setting
Default for all timeframes;
Below is Protuguese version (only translation from above):
Para configurar após selecionar este indicador, seguem os passos abaixo: (Português)
Selecionar o botão Configurações do gráfico Stoch RSI MTF :
VALORES - Na primeira tela de configuração:
K = (Smooth K) valor padrão está em 3 e o mínimo é 1
D = (Smooth D)valor padrão está em 3 e o mínimo é 1
O período IFR e o período estocástico está no padrão de 14 candles (para cada tipo de tempo gráfico)
Fonte do IFR = fechamento do candle (padrão)
Configurar nos canais de 1 a 8 os timeframes os tempos gráficos --> Padrão está configurado do menor timeframe para o maior>>
{Timeframe 1 >> 1 minute, Timeframe 2 >> 5 minutes, Timeframe 3 >> 15 minutes, Timeframe 4>> 1 hour,
Time frame 5 >> 4 hours, Timeframe 6 >> 1 day, Timeframe 7 >> 1 week, Timeframe 8 >> 1 month}
ESTILO - Na segunda tela de configuração:
Selecionar qual canal de 1 a 8 será ativado através da curva K ou D ou ambas
Selecionar os limites do RSI mínimo e máximo e a referencia neutra
Cores para configuração : Todas as cores já estão configuradas e seguem abaixo na sequencia (para conhecimento):
1 minute: red (#f23645) - all colors are in 100% opacity
5 minutes: orange (#ff9800)
15 minutes: yellow (#ffeb3b)
1 hour: green (#4caf50)
4 hours: blue (#2962ff)
1 day: Purple (#9c27b0)
1 week: Pink - Light (#f48fb1)
1 month: Pink 400 (#ec407a)
VISIBILIDADE - Na terceira tela de configuração:
Padrão ticks e tempos gráficos para todos os tipos;
BTM LayoutThis is for personal use and for my friends, that's why publislishing it.
when trend line color is green and you see a buy signal that indicates there is a buy trend.
when trend line color is Red and you see a Sell signal that indicates there is a Sell trend.
better chart timeframe is 15 mins and 30 mins.
Ichimoku MTF (best MTF 4H - Entry 15M)The Ichimoku Cloud is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. It does this by taking multiple averages and plotting them on a chart. It also uses these figures to compute a “cloud” that attempts to forecast where the price may find support or resistance in the future.
The technical indicator shows relevant information at a glance by using averages.
The overall trend is up when the price is above the cloud, down when the price is below the cloud, and trendless or transitioning when the price is in the cloud.
Charles G. Koonitz. “Ichimoku Analysis & Strategies: The Visual Guide to Spot the Trends in Stock Market, Cryptocurrency and Forex Using Technical Analysis and Cloud Charts," Tripod Solutions Inc., 2019.
When Leading Span A is rising and above Leading Span B, this helps to confirm the uptrend and the space between the lines is typically colored green. When Leading Span A is falling and below Leading Span B, this helps confirm the downtrend. The space between the lines is typically colored red in this case.1
Traders will often use the Ichimoku Cloud as an area of support and resistance depending on the relative location of the price. The cloud provides support/resistance levels that can be projected into the future. This sets the Ichimoku Cloud apart from many other technical indicators that only provide support and resistance levels for the current date and time.
Traders should use the Ichimoku Cloud in conjunction with other technical indicators to maximize their risk-adjusted returns. For example, the indicator is often paired with the relative strength index (RSI), which can be used to confirm momentum in a certain direction. It’s also important to look at the bigger trends to see how the smaller trends fit within them. For example, during a very strong downtrend, the price may push into the cloud or slightly above it, temporarily, before falling again. Only focusing on the indicator would mean missing the bigger picture that the price was under strong longer-term selling pressure.
Crossovers are another way that the indicator can be used. Watch for the conversion line to move above the base line, especially when the price is above the cloud. This can be a powerful buy signal. One option is to hold the trade until the conversion line drops back below the base line. Any of the other lines could be used as exit points as well.
SSL Channel MTFSSL Channel with MTF support, This eliminates the noise of a basic SSL Channel script which is based on ErwinBeckers SSL Channel. So i have used a Multi Time Frame approach to have a clear confirmation of trend and reduce Noise and False signals unlike basic SSL Channel.
This script can be used to determine.
Support/Resistance
High/Low Breakout
Trend Direction
MA candles for Entry
The high and low sma are plotted as SSL CHANNEL when ever the high and low sma cross each other a direction change is observed.
The direction of SSL channel determines the trend of the price. The length of the channel can be changed as required a low value has a high noise and direction can be determined with low accuracy. Increasing the length of SSL channel has high accuracy trend confirmation.
The MTF SSL Channel uses plot from higher timeframe this helps in using SSL Channel as a Price Action Tool. Price when ever crosses over or below the channel determines a breakout. Price tries to move between the High SMA line and Low SMA Line of the SSL Channel rejection, breakouts can be easily observed on a lower timeframe using SSL Channel Plot from a higher timeframe.
I have used 5min/15min chart with MTF SSL from a 1Hr/4Hr and a length of 5 instead of 10. This helps quick direction changes over a period of 1hr to 4hr. Price is trapped within the High SMA and Low SMA lines of SSL Channel. In addition to SSL High Low and average mid line is plotted to additional reference.
Buy Sell Signals are plotted based on crossover of SMA High and Low.
Candle are Plotted Using a SMA with length of 5. This Candle Plot can be used to make an entry based on direction confirmation of SSL. keep in mind the direction of SSL Plot and the candle must be same. Preferably Entry can made above or below the midline of SSL Channel. The Candle Plot eliminates the Noise of traditional Japanese Candlesticks.
Additionally MACD Crossover and MACD Trend line confirmations can be used to confirm a Buy Sell and Entry signals
Alerts are also plotted accordingly.
Volume Weighted HMA Index | mad_tiger_slayerTitle: 🍉 Volume Weighted HMA Index | mad_tiger_slayer 🐯
Description:
The Volume Weighted HMA Index is a cutting-edge indicator designed to enhance the accuracy and responsiveness of trading signals by combining the power of volume with the Hull Moving Average (HMA). This indicator adjusts the HMA based on volume-weighted price changes, providing faster and more reliable entry and exit signals while reducing the likelihood of false signals.
Intended and Best Uses:
Used for Strategy Creation:
Extremely Quick Entries and Exits
Intended for Higher timeframe however can be used for scalping paired with additional scripts.
Can be paired to create profitable strategies
TREND FOLLOWING NOT MEAN REVERTING!!!!
[Key Features:
Volume Integration: Dynamically adjusts the HMA using volume data to prioritize higher-volume bars, ensuring that market activity plays a crucial role in signal generation.
Enhanced Signal Clarity: The indicator calculates precise long and short signals by detecting volume-weighted HMA crossovers.
Bar Coloring: Visually differentiate bullish and bearish conditions with customizable bar colors, making trends easier to identify.
Custom Signal Plotting: Optional long and short signal markers for a clear visual representation of potential trade opportunities.
Highly Configurable: Adjust parameters such as volume length and calculation source to tailor the indicator to your trading preferences and strategy.
How It Works:
Volume Weighting: The indicator calculates the HMA using a volume-weighted price change, amplifying the influence of high-volume periods on the moving average.
Trend Identification: Crossovers of the volume-weighted HMA with zero determine trend direction, where:
A bullish crossover signals a long condition.
A bearish crossunder signals a short condition.
Visual Feedback: Bar colors and optional signal markers provide real-time insights into trend direction and trading signals.
Use Cases:
Trend Following: Quickly identify emerging trends with volume-accelerated HMA calculations.
Trade Confirmation: Use the indicator to confirm the strength and validity of your trade setups.
Custom Signal Integration: Combine this indicator with your existing strategies to refine entries and exits.
Notes:
Ensure that your trading instrument provides volume data for accurate calculations. If no volume is available, the script will notify you.
This script works best when combined with other indicators or trading frameworks for a comprehensive market view.
Inspired by the community and designed for traders looking to stay ahead of the curve, the Volume Weighted HMA Index is a versatile tool for traders of all levels.
