Advanced Adaptive Grid Trading StrategyThis strategy employs an advanced grid trading approach that dynamically adapts to market conditions, including trend, volatility, and risk management considerations. The strategy aims to capitalize on price fluctuations in both rising (long) and falling (short) markets, as well as during sideways movements. It combines multiple indicators to determine the trend and automatically adjusts grid parameters for more efficient trading.
How it Works:
Trend Analysis:
Short, long, and super long Moving Averages (MA) to determine the trend direction.
RSI (Relative Strength Index) to identify overbought and oversold levels, and to confirm the trend.
MACD (Moving Average Convergence Divergence) to confirm momentum and trend direction.
Momentum indicator.
The strategy uses a weighted scoring system to assess trend strength (strong bullish, moderate bullish, strong bearish, moderate bearish, sideways).
Grid System:
The grid size (the distance between buy and sell levels) changes dynamically based on market volatility, using the ATR (Average True Range) indicator.
Grid density also adapts to the trend: in a strong trend, the grid is denser in the direction of the trend.
Grid levels are shifted depending on the trend direction (upwards in a bear market, downwards in a bull market).
Trading Logic:
The strategy opens long positions if the trend is bullish and the price reaches one of the lower grid levels.
It opens short positions if the trend is bearish and the price reaches one of the upper grid levels.
In a sideways market, it can open positions in both directions.
Risk Management:
Stop Loss for every position.
Take Profit for every position.
Trailing Stop Loss to protect profits.
Maximum daily loss limit.
Maximum number of positions limit.
Time-based exit (if the position is open for too long).
Risk-based position sizing (optional).
Input Options:
The strategy offers numerous settings that allow users to customize its operation:
Timeframe: The chart's timeframe (e.g., 1 minute, 5 minutes, 1 hour, 4 hours, 1 day, 1 week).
Base Grid Size (%): The base size of the grid, expressed as a percentage.
Max Positions: The maximum number of open positions allowed.
Use Volatility Grid: If enabled, the grid size changes dynamically based on the ATR indicator.
ATR Length: The period of the ATR indicator.
ATR Multiplier: The multiplier for the ATR to fine-tune the grid size.
RSI Length: The period of the RSI indicator.
RSI Overbought: The overbought level for the RSI.
RSI Oversold: The oversold level for the RSI.
Short MA Length: The period of the short moving average.
Long MA Length: The period of the long moving average.
Super Long MA Length: The period of the super long moving average.
MACD Fast Length: The fast period of the MACD.
MACD Slow Length: The slow period of the MACD.
MACD Signal Length: The period of the MACD signal line.
Stop Loss (%): The stop loss level, expressed as a percentage.
Take Profit (%): The take profit level, expressed as a percentage.
Use Trailing Stop: If enabled, the strategy uses a trailing stop loss.
Trailing Stop (%): The trailing stop loss level, expressed as a percentage.
Max Loss Per Day (%): The maximum daily loss, expressed as a percentage.
Time Based Exit: If enabled, the strategy exits the position after a certain amount of time.
Max Holding Period (hours): The maximum holding time in hours.
Use Risk Based Position: If enabled, the strategy calculates position size based on risk.
Risk Per Trade (%): The risk per trade, expressed as a percentage.
Max Leverage: The maximum leverage.
Important Notes:
This strategy does not guarantee profits. Cryptocurrency markets are volatile, and trading involves risk.
The strategy's effectiveness depends on market conditions and settings.
It is recommended to thoroughly backtest the strategy under various market conditions before using it live.
Past performance is not indicative of future results.
التقلب
Pipnotic Asset Strength HistogramDescription
The Pipnotic Asset Strength Histogram (ASH) was originally developed to provide traders with a structured approach to identifying market cycles and momentum shifts. Due to increasing demand, it has been adapted for TradingView, ensuring traders can leverage its insights directly on their charts. This tool is particularly useful for spotting divergences, trend reversals, and price imbalances, making it an essential addition for traders who rely on momentum and strength-based analysis. We will continue to actively develop this indicator to enhance its functionality and accuracy.
How It Works
The ASH follows a systematic approach to analyse price movements and highlight key market dynamics:
Momentum & Cycle Analysis
Evaluates price movements using a dual-smoothing methodology.
Identifies shifts in momentum that indicate potential reversals or trend continuations.
Divergence Detection
Highlights instances where price action diverges from underlying momentum, signalling potential trading opportunities.
Helps confirm trade setups based on hidden and regular divergences.
Dynamic Visualization & Alerts
Plots a histogram to provide a clear visual representation of market strength.
Identifies buy and sell zones based on historical price deviations.
Updates dynamically, adapting to changing market conditions to maintain relevance.
Key Features & Inputs
Customizable Sensitivity: Traders can fine-tune cycle smoothing values to match different trading styles.
Clear Buy & Sell Zones: Highlights potential high-probability trading areas based on historical deviations.
Flexible Visualization: Adjustable histogram colours, line width, and mean deviation settings for optimal clarity.
Adaptability Across Markets: Works effectively on stocks, forex, crypto, and commodities.
Compatible with Various Trading Strategies: Can be used alongside trend-following, breakout, and reversal strategies for enhanced trade confirmation.
Benefits of Using the Pipnotic ASH Indicator
Market Timing: Helps traders identify optimal entry and exit points based on momentum shifts.
Reduces Subjectivity: Automates the detection of market strength and divergence, ensuring consistency.
Adapts to Market Conditions: Adjusts dynamically to price changes, ensuring relevant signals.
Saves Time & Effort: Eliminates the need for manual divergence analysis.
Works on All Timeframes: Suitable for scalping, swing trading, and long-term investing.
The Pipnotic Asset Strength Histogram is designed to streamline market analysis by providing clear, actionable insights into momentum shifts and divergences. Whether you're a day trader or a long-term investor, this tool helps refine your decision-making and enhance your trading strategy.
ST_HTF_EMA### **ST_HTF_EMA – Higher Timeframe EMA Overlay**
#### **Description:**
The **ST_HTF_EMA** indicator plots a **21-period Exponential Moving Average (EMA)** from a **higher timeframe** onto the current chart. This allows traders to track key trend levels from a larger perspective while trading on a lower timeframe.
#### **Features:**
- **Customizable Timeframe:** The EMA is sourced from a user-defined timeframe (default: **5-minute**).
- **EMA Calculation:** Uses the **21-period EMA** for smoothing price action and identifying trend direction.
- **Envelope Bands (Optional):** A **0.75% envelope** can be toggled on to create upper and lower bands around the EMA for potential dynamic support/resistance zones.
- **Overlay on Chart:** The EMA and envelope bands are plotted directly on the price chart for easy visibility.
#### **How to Use:**
- Use the **EMA as a trend guide**—price above the EMA suggests bullish momentum, while price below indicates bearish momentum.
- Enable the **envelope bands** (if needed) to spot price deviations from the mean for possible reversal or continuation trades.
#### **Customization:**
- Modify the **timeframe** to adapt the EMA to different market structures.
- Adjust the **envelope percentage** to fine-tune sensitivity.
#### **Visuals:**
- The **EMA is plotted in yellow** for clear visibility.
- **Envelope bands (if enabled)** appear in yellow, with a subtle background highlight.
This indicator is ideal for traders who rely on **higher timeframe trend confirmation** while making decisions on lower timeframes. 🚀
JJ/CG - Dynamic Mean Reversion Indicator with Candle Size FilterDynamic Mean Reversion Indicator (DMR 250 EMA)
📌 Best Timeframes: 5m / 15m / 1hr
📊 Works on All Markets: Crypto, Forex, Stocks, Commodities
How It Works (Based on Script)
This indicator is built around the 250 EMA (Exponential Moving Average) and tracks price movements in relation to it. It identifies extreme price deviations and detects when price has moved too far from the EMA, signaling potential reversion points.
🔹 Core Components:
250 EMA as a Baseline
The script calculates a 250-period EMA, which acts as a dynamic trend guide.
Price Deviation Calculation
The script measures the absolute difference between price and the 250 EMA.
It tracks the highest deviation over a set lookback period (default: 1000 candles).
A dynamic threshold is created based on the highest historical deviation, multiplied by a user-defined factor (default: 0.85).
Candle Size Filter
The script calculates the average candle size over a lookback period (default: 50 candles).
If a candle is significantly larger than the average (based on a multiplier, default: 2.0x), it is flagged as an important move.
Long & Short Signal Conditions
Long Signal (Buy Signal):
Price is significantly below the EMA (beyond the dynamic threshold).
A large candle is present.
Short Signal (Sell Signal):
Price is significantly above the EMA (beyond the dynamic threshold).
A large candle is present.
Alerts & Visuals
When conditions are met, the script plots "Buy" signals below the price and "Sell" signals above the price.
Users can set up alerts to get notified when a signal occurs.
How to Use It
Price tends to revert to the 250 EMA after extreme deviations.
Use this indicator with support/resistance levels, RSI, and Stochastic for confirmation.
Best used in volatile markets where price moves sharply away from the mean.
⚠ Not a standalone indicator – combine with other tools for better accuracy! 🚀ator – use it with RSI, Stochastic, and solid TA for best results! 🚀
BTC: Open InterestThis indicator tracks the 7-day (default) percentage change in open interest (OI), providing insights into market participation trends. It includes customizable periods and colors, allowing traders to adjust settings for better visualization.
Open interest (OI) is the total number of active contracts (futures or options) that haven’t been closed or settled. It represents the total open positions in the market.
Thus when OI increases, more traders are entering new positions, signaling growing market interest. Conversely, when OI decreases, positions are being closed, suggesting lower trader participation or liquidation.
Attributes & Features:
Open Interest Percentage Change – Measures the 7-day % change in open interest to track market participation.
Customizable Calculation Period – Users can adjust the period (default: 7 days) for more flexible analysis.
Adjustable Colors – Allows modification of colors for better visualization.
Trend Identification – Highlights rising vs. falling open interest trends.
Works Across Assets – Can be used for cryptos, stocks, and futures with open interest data.
Overlay or Separate Panel – Can be plotted on price chart or as a separate indicator.
How It Works:
Fetches Open Interest Data – Retrieves open interest values for each day for USD, USDT, and USDC Bitcoin Perpetual Derivitives.
Calculates Percentage Change – Compares current open interest to its value X days ago (Default = 7 days).
Standard Deviation – Applies standard deviation ranging from -2 to +2 deviations to identify large shifts in OI.
Visual Alerts – Can highlight extreme increases or decreases signaling potential market shifts.
NOTE: THE INDICATOR DATA ONLY GOES BACK TO START OF 2022
Higher Timeframe Support/ResistanceMulti-Timeframe Support/Resistance Indicator
This TradingView indicator helps you monitor important support and resistance levels based on the previous candle’s high, low, and close from a higher timeframe. By default, it uses a daily timeframe, but you can adjust this to any timeframe you want.
Key Features:
- Previous Candle High (PCH) and Previous Candle Low (PCL):
These levels are plotted on your chart (if enabled) and can act as potential support and
resistance zones. You can toggle the visibility of these levels.
- Pivot, Resistance (R1), and Support (S1):
The script calculates Pivot, R1 (Resistance), and S1 (Support) levels based on the previous
candle's price action from the selected higher timeframe.
These levels are displayed on your chart and can be used to identify potential breakout or
reversal points.
- Alert Feature:
Alerts are triggered when the price approaches any of these key levels (PCH, PCL, Pivot, R1,
or S1) within a specified threshold (e.g., 0.5%).
This helps traders react quickly to potential price movements near critical levels.
- Visual Representation:
The script visually fills the areas between Pivot and R1 (Resistance-Pivot Zone) and Pivot and
S1 (Support-Pivot Zone) with color for easy identification of key price zones.
Combined ATR + VolumeOverview
The Combined ATR + Volume indicator (C-ATR+Vol) is designed to measure both price volatility and market participation by merging the Average True Range (ATR) and trading volume into a single normalized value. This provides traders with a more comprehensive tool than ATR alone, as it highlights not only how much price is moving, but also whether there is sufficient volume behind those moves.
Originality & Utility
Two Key Components
ATR (Average True Range): Measures price volatility by analyzing the range (high–low) over a specified period. A higher ATR often indicates larger price swings.
Volume: Reflects how actively traders are participating in the market. High volume typically indicates strong buying or selling interest.
Normalized Combination
Both ATR and volume are independently normalized to a 0–100 range.
The final output (C-ATR+Vol) is the average of these two normalized values. This makes it easy to see when both volatility and market participation are relatively high.
Practical Use
Above 80: Signifies elevated volatility and strong volume. Markets may experience significant moves.
Around 50–80: Indicates moderate activity. Price swings and volume are neither extreme nor minimal.
Below 50: Suggests relatively low volatility and lower participation. The market may be ranging or consolidating.
This combined approach can help filter out situations where volatility is high but volume is absent—or vice versa—providing a more reliable context for potential breakouts or trend continuations.
Indicator Logic
ATR Calculation
Uses Pine Script’s built-in ta.tr(true) function to measure true range, then smooths it with a user-selected method (RMA, SMA, EMA, or WMA).
Key Input: ATR Length (default 14).
Volume Calculation
Smooths the built-in volume variable using the same selectable smoothing methods.
Key Input: Volume Length (default 14).
Normalization
For each metric (ATR and Volume), the script finds the lowest and highest values over the lookback period and converts them into a 0–100 scale:
normalized value
=(current value−min)(max−min)×100
normalized value= (max−min)(current value−min) ×100
Combined Score
The final plot is the average of Normalized ATR and Normalized Volume. This single value simplifies the process of identifying high-volatility, high-volume conditions.
How to Use
Setup
Add the indicator to your chart.
Adjust ATR Length, Volume Length, and Smoothing to match your preferred time horizon or chart style.
Interpretation
High Values (above 80): The market is experiencing significant price movement with high participation. Potential for strong trends or breakouts.
Moderate Range (50–80): Conditions are active but not extreme. Trend setups may be forming.
Low Values (below 50): Indicates quieter markets with reduced liquidity. Expect ranging or less decisive moves.
Strategy Integration
Use C-ATR+Vol alongside other trend or momentum indicators (e.g., Moving Averages, RSI, MACD) to confirm potential entries/exits.
Combine it with support/resistance or price action analysis for a broader market view.
Important Notes
This script is open-source and intended as a community contribution.
No Future Guarantee: Past market behavior does not guarantee future results. Always use proper risk management and validate signals with additional tools.
The indicator’s performance may vary depending on timeframes, asset classes, and market conditions.
Adjust inputs as needed to suit different instruments or personal trading styles.
By adhering to TradingView’s publishing rules, this script is provided with sufficient detail on what it does, how it’s unique, and how traders can use it. Feel free to customize the settings and experiment with other technical indicators to develop a trading methodology that fits your objectives.
🔹 Combined ATR + Volume (C-ATR+Vol) 지표 설명
이 인디케이터는 ATR(Average True Range)와 거래량(Volume)을 결합하여 시장의 변동성과 유동성을 동시에 측정하는 지표입니다.
ATR은 가격 변동성의 크기를 나타내며, 거래량은 시장 참여자의 활동 수준을 반영합니다. 보통 높은 ATR은 가격 변동이 크다는 의미이고, 높은 거래량은 시장에서 적극적인 거래가 이루어지고 있음을 나타냅니다.
이 두 지표를 각각 0~100 범위로 정규화한 후, 평균을 구하여 "Combined ATR + Volume (C-ATR+Vol)" 값을 계산합니다.
이를 통해 단순한 가격 변동성뿐만 아니라 거래량까지 고려하여, 더욱 신뢰성 있는 변동성 판단을 할 수 있도록 도와줍니다.
📌 핵심 개념
1️⃣ ATR (Average True Range)란?
시장의 변동성을 측정하는 지표로, 일정 기간 동안의 고점-저점 변동폭을 기반으로 계산됩니다.
ATR이 높을수록 가격 변동이 크며, 낮을수록 횡보장이 지속될 가능성이 큽니다.
하지만 ATR은 방향성을 제공하지 않으며, 단순히 변동성의 크기만을 나타냅니다.
2️⃣ 거래량 (Volume)의 역할
거래량은 시장 참여자의 관심과 유동성을 반영하는 중요한 요소입니다.
높은 거래량은 강한 매수 또는 매도세가 존재함을 의미하며, 낮은 거래량은 시장 참여가 적거나 관심이 줄어들었음을 나타냅니다.
3️⃣ ATR + 거래량의 결합 (C-ATR+Vol)
단순한 ATR 값만으로는 변동성이 커도 거래량이 부족할 수 있으며, 반대로 거래량이 많아도 변동성이 낮을 수 있습니다.
이를 해결하기 위해 ATR과 거래량을 각각 0~100으로 정규화하여 균형 잡힌 변동성 지표를 만들었습니다.
두 지표의 평균값을 계산하여, 가격 변동과 거래량이 동시에 높은지를 측정할 수 있도록 설계되었습니다.
📊 사용법 및 해석
80 이상 → 강한 변동성 구간
가격 변동성이 크고 거래량도 높은 상태
강한 추세가 진행 중이거나 큰 변동이 일어날 가능성이 큼
상승/하락 방향성을 확인한 후 트렌드를 따라가는 전략이 유리
50~80 구간 → 보통 수준의 변동성
가격 움직임이 일정하며, 거래량도 적절한 수준
점진적인 추세 형성이 이루어질 가능성이 있음
시장이 점진적으로 상승 혹은 하락할 가능성이 크므로, 보조지표를 활용하여 매매 타이밍을 결정하는 것이 중요
50 이하 → 낮은 변동성 및 유동성 부족
가격 변동이 적고, 거래량도 낮은 상태
시장이 횡보하거나 조정 기간에 들어갈 가능성이 큼
박스권 매매(지지/저항 활용) 또는 돌파 전략을 고려할 수 있음
💡 활용 방법 및 전략
✅ 1. 트렌드 판단 보조지표로 활용
단독으로 사용하는 것보다는 RSI, MACD, 이동평균선(MA) 등의 지표와 함께 활용하는 것이 효과적입니다.
예를 들어, MACD가 상승 신호를 주고, C-ATR+Vol 값이 80을 초과하면 강한 상승 추세로 해석할 수 있습니다.
✅ 2. 변동성 돌파 전략에 활용
C-ATR+Vol이 80 이상인 구간에서 가격이 특정 저항선을 돌파한다면, 강한 추세의 시작을 의미할 수 있습니다.
반대로, C-ATR+Vol이 50 이하에서 가격이 저항선에 가까워지면 돌파 가능성이 낮아질 수 있습니다.
✅ 3. 시장 참여도와 변동성 확인
단순히 ATR만 높아서는 신뢰하기 어려운 경우가 많습니다. 예를 들어, 급등 후 거래량이 급감하면 상승 지속 가능성이 낮아질 수도 있습니다.
하지만 C-ATR+Vol을 사용하면 거래량이 함께 증가하는지를 확인하여 보다 신뢰할 수 있는 분석이 가능합니다.
🚀 결론
🔹 Combined ATR + Volume (C-ATR+Vol) 인디케이터는 단순한 ATR이 아니라 거래량까지 고려하여 변동성을 측정하는 강력한 도구입니다.
🔹 시장이 큰 움직임을 보일 가능성이 높은 구간을 찾는 데 유용하며, 80 이상일 경우 강한 변동성이 있음을 나타냅니다.
🔹 단독으로 사용하기보다는 보조지표와 함께 활용하여, 트렌드 분석 및 돌파 전략 등에 효과적으로 적용할 수 있습니다.
📌 주의사항
변동성이 크다고 해서 반드시 가격이 급등/급락한다는 보장은 없습니다.
특정한 매매 전략 없이 단순히 이 지표만 보고 매수/매도를 결정하는 것은 위험할 수 있습니다.
시장 상황에 따라 변동성의 의미가 다르게 작용할 수 있으므로, 반드시 다른 보조지표와 함께 활용하는 것이 중요합니다.
🔥 이 지표를 활용하여 시장의 변동성과 거래량을 보다 효과적으로 분석해보세요! 🚀
IU BBB(Big Body Bar) StrategyDESCRIPTION
The IU BBB (Big Body Bar) Strategy is a price action-based trading strategy that identifies high-momentum candles with significantly larger body sizes compared to the average. It enters trades when a strong bullish or bearish move occurs and manages risk using an ATR-based trailing stop-loss system.
USER INPUTS:
- Big Body Threshold – Defines how many times larger the candle body should be compared to the average body ( default is 4 ).
- ATR Length – The period for the Average True Range (ATR) used in the trailing stop-loss calculation ( default is 14 ).
- ATR Factor – Multiplier for ATR to determine the trailing stop distance ( default is 2 ).
LONG CONDITION:
- The current candle’s body is greater than the average body size multiplied by the Big Body Threshold.
- The closing price is higher than the opening price (bullish candle).
SHORT CONDITION:
- The current candle’s body is greater than the average body size multiplied by the Big Body Threshold.
- The closing price is lower than the opening price (bearish candle).
LONG EXIT:
- ATR-based trailing stop-loss dynamically adjusts, locking in profits as the price moves higher.
SHORT EXIT:
- ATR-based trailing stop-loss dynamically adjusts, securing profits as the price moves lower.
WHY IT IS UNIQUE:
- Unlike traditional momentum strategies, this system adapts to volatility by filtering trades based on relative candle size.
- It incorporates an ATR-based trailing stop-loss, ensuring risk management and profit protection.
- The strategy avoids choppy market conditions by only trading when significant momentum is present.
HOW USERS CAN BENEFIT FROM IT:
- Catch Strong Price Moves – The strategy helps traders enter trades when the market shows decisive momentum.
- Effective Risk Management – The ATR-based trailing stop ensures that winning trades remain profitable.
- Works Across Markets – Can be applied to stocks, forex, crypto, and indices with proper optimization.
- Fully Customizable – Users can adjust sensitivity settings to match their trading style and time frame.
Supertrend with RSI FilterThis indicator is an enhanced version of the classic Supertrend, incorporating an RSI (Relative Strength Index) filter to refine trend signals. Here is a detailed explanation of its functionality and key advantages over the traditional Supertrend.
1. Indicator Functionality
The indicator uses ATR (Average True Range) to calculate the Supertrend line, just like the classic version. However, it introduces an additional condition based on RSI to strengthen or weaken the Supertrend color based on market momentum.
2. Interpretation of Colors
The indicator displays the Supertrend line with dynamic colors based on trend direction and RSI strength:
- Uptrend (Supertrend in buy mode):
- Dark green (Teal): RSI above the defined threshold (default 50) → Strong bullish confirmation.
- Light gray: RSI below the threshold → Indicates a weaker uptrend or lack of confirmation.
- Downtrend (Supertrend in sell mode):
- Dark red: RSI below the threshold → Strong bearish confirmation.
- Light gray: RSI above the threshold → Indicates a weaker downtrend or lack of confirmation.
The opacity of the color dynamically adjusts based on how far RSI is from its threshold. The greater the difference, the more vivid the color, signaling a stronger trend.
3. Key Advantages Over the Classic Supertrend
- Filters out false signals: The RSI integration helps reduce false signals by only validating trends when RSI aligns with the Supertrend direction.
- Weakens uncertain signals: When RSI is close to its threshold, the color becomes more transparent, alerting traders to a less reliable trend.
- Classic mode available: The 'Use Classic Supertrend' option allows switching to a standard Supertrend display (fixed red/green) without the RSI effect.
4. Customizable Parameters
- ATR Length & ATR Factor: Define the sensitivity of the Supertrend.
- RSI Period & RSI Threshold: Allow refining the RSI filter based on market volatility.
- Classic mode: Enables/disables the RSI filtering to revert to the original Supertrend.
This indicator is especially valuable for traders looking to refine their trend signals based on market momentum measured by RSI.
This indicator is for informational purposes only and should not be considered financial advice. Trading involves risks, and past performance does not guarantee future results. Always conduct your own analysis before making any trading decisions.
RVI SD Band Oscillator | BinMastaThe RVI SD Band Oscillator is a momentum-based indicator that enhances trend analysis using the Relative Vigor Index (RVI) with Standard Deviation (SD) Bands. It refines signals by incorporating a signal line and dynamically adjusting bands based on market volatility.
Core Components:
RVI Calculation: Measures price momentum relative to past movements.
Signal Line: A smoothed version of RVI to identify crossovers.
SD Bands: Standard deviation-based boundaries to gauge overbought/oversold conditions.
Trading Logic:
Trend Direction: Determined by RVI crossover with the signal line.
Momentum Confirmation: Identifies shifts in buying and selling strength.
Trade Signals:
Bullish when the trend is up & the signal is near the lower band.
Bearish when the trend is down & the signal is near the upper band.
Visual Features:
Colored candles highlight potential trend shifts.
Signal line plot provides additional confirmation.
Disclaimer:
This indicator is for educational purposes only and should not be considered financial advice. Past performance is not indicative of future results. Always conduct your own analysis and risk management before making trading decisions. 🚀
BBr1 Candle Range Volitility Gap IndicatorModified Candle Range Volatility Gap Indicator
1. Useful to analyze bars body and wicks and volatility of security.
2. Added a Percentage Option - easier to analyze across different securities.
2. Added a Standard Deviation ("1 std dev= 68.2%, 2 std dev=95.4%, 3 std dev=99.7%, etc") based upon user defined lookback period.
3. Added the ability to include Gaps in Analysis. (Gaps are when the prior closing cost does not equal opening price)
4. Possible Uses setting up stop losses, trailing entries/exits (inside range or outside range).
5. Use it with other indicators in determining if to make an entry or close entry.
Reposted Original Description by © ka66 Kamal Advani
Visually shows the Body Range (open to close) and Candle Range (high to low).
Semi-transparent overlapping area is the full Candle Range, and fully-opaque smaller area is the Body Range. For aesthetics and visual consistency, Candle Range follows the direction of the Body Range, even though technically it's always positive (high - low).
The different plots for each range type also means the UI will allow deselecting one or the other as needed. For example, some strategies may care only about the Body Range, rather than the entire Candle Range, so the latter can be hidden to reduce noise.
Threshold horizontal lines are plotted, so the trader can modify these high and low levels as needed through the user interface. These need to be configured to match the instrument's price range levels for the timeframe. The defaults are pretty arbitrary for +/- 0.0080 (80 pips in a 4-decimal place forex pair). Where a range reaches or exceeds a threshold, it's visually marked as well with a shape at the Body or Candle peak, to assist with quicker visual potential setup scanning, for example, to anticipate a following reversal or continuation.
Sharpe Ratio ScreenerThe original code was created by tim_amblard , and the modifications were made by Mr_Rakun for the purpose of adapting the script into a screener format.
The Sharpe ratio is a popular metric used to measure the risk-adjusted return of an asset or portfolio, which allows traders and investors to assess whether the returns they are receiving are worth the risk they are taking. In this script, the Sharpe ratio is calculated over a 180-day period (approximately 6 months), and several valuation zones are defined based on the ratio to help assess whether an asset is overvalued, undervalued, or critically undervalued.
Key Features:
1. Risk-Free Rate Input: The user can define the risk-free rate (usually the return of government bonds or a similar safe asset) for Sharpe ratio calculation.
2. Lookback Period (180 Days): The default lookback period is set to 180 days (approximately 6 months) to calculate the mean and standard deviation of the asset’s daily returns.
3. Valuation Zones:
• Overvalued Zone: If the Sharpe ratio is greater than 5.
• Undervalued Zone: If the Sharpe ratio is between -1 and 5.
• Critically Undervalued Zone: If the Sharpe ratio is below -3.
• Neutral Zone: If the Sharpe ratio does not meet any of the above conditions.
4. Table View: The script pulls a list of symbols from the user (e.g., cryptocurrency or stock tickers) and displays their latest price, Sharpe ratio, and whether they are in an overvalued, undervalued, or neutral zone in a table format.
5. Custom Symbol Input: The user can input a list of symbols (separated by commas) to track.
6. Daily Timeframe Check: The script warns the user to ensure they are using a daily timeframe, as this indicator is designed specifically for it.
How It Works:
• The script calculates the daily returns for each symbol over the specified lookback period.
• It then calculates the mean and standard deviation of the returns to derive the Sharpe ratio.
• The Sharpe ratio is annualized, and it’s compared to the defined thresholds to categorize the symbol into different valuation zones.
• A table is generated on the chart to show the symbols, their current prices, and their Sharpe ratios, with color-coded background to easily identify whether they are overvalued (red), undervalued (green), or critically undervalued (blue).
This tool is useful for screening multiple assets for their Sharpe ratio to find investment opportunities with optimal risk-adjusted returns.
Original code credit: This code was originally written by tim_amblard and modified by Mr_Rakun for use as a screener.
Türkçe Açıklama:
Orijinal kod tim_amblard tarafından yazılmıştır ve Mr_Rakun tarafından, bu script’in tarayıcı formatına dönüştürülmesi amacıyla değiştirilmiştir.
Sharpe oranı, bir varlığın veya portföyün risk düzeltilmiş getirisini ölçmek için yaygın olarak kullanılan bir metriktir. Bu metrik, yatırımcıların aldıkları risk karşılığında aldıkları getirinin ne kadar verimli olduğunu değerlendirmelerine olanak tanır. Bu script’te, Sharpe oranı 180 günlük bir periyot (yaklaşık 6 ay) boyunca hesaplanır ve oranı baz alarak varlıkların değerleme bölgeleri tanımlanır: aşırı değerli, değerli ve kritik şekilde değersiz.
Ana Özellikler:
1. Risk-Free Rate (Risk-Free Oranı) Girişi: Kullanıcı, Sharpe oranı hesaplaması için risk-free (risksiz) oranı (genellikle devlet tahvilleri veya benzeri güvenli bir varlık getirisi) tanımlayabilir.
2. Lookback (Geribildirim) Periyodu (180 Gün): Varsayılan geribildirim periyodu, varlığın günlük getirilerinin ortalama ve standart sapmalarını hesaplamak için 180 gün (yaklaşık 6 ay) olarak ayarlanmıştır.
3. Değerleme Bölgeleri:
• Aşırı Değerli Bölge: Sharpe oranı 5’ten büyükse.
• Değerli Bölge: Sharpe oranı -1 ile 5 arasında ise.
• Kritik Derecede Değersiz Bölge: Sharpe oranı -3’ten küçükse.
• Nötr Bölge: Sharpe oranı yukarıdaki hiçbir koşulu karşılamıyorsa.
4. Tablo Görünümü: Script, kullanıcıdan alınan semboller listesine göre (örneğin, kripto para veya hisse senedi sembolleri) her bir sembolün son fiyatını, Sharpe oranını ve değerleme bölgesini tablo şeklinde gösterir.
5. Özel Sembol Girişi: Kullanıcı, izlemek istediği semboller listesini (virgülle ayrılmış) girebilir.
6. Günlük Zaman Çerçevesi Kontrolü: Script, kullanıcının doğru sonuçlar almak için günlük zaman çerçevesinde işlem yapması gerektiğini hatırlatır.
Nasıl Çalışır:
• Script, her sembol için belirtilen geribildirim periyodu boyunca günlük getirileri hesaplar.
• Ardından, getirilerin ortalama ve standart sapmasını hesaplayarak Sharpe oranını çıkarır.
• Sharpe oranı yıllıklaştırılır ve tanımlanan eşiklerle karşılaştırılarak sembol, farklı değerleme bölgelerine kategorize edilir.
• Grafik üzerinde, semboller, mevcut fiyatları ve Sharpe oranları gösteren bir tablo oluşturulur. Bu tablo, hangi sembollerin aşırı değerli (kırmızı), değerli (yeşil) veya kritik derecede değersiz (mavi) olduğunu kolayca görmek için renk kodlu arka planlar kullanır.
Bu araç, yatırım fırsatlarını daha verimli bir şekilde değerlendirebilmek için risk düzeltilmiş getiri açısından optimal fırsatları bulmak için birden fazla varlığın Sharpe oranlarını taramak için kullanışlıdır.
ATR Percentages BoxThis custom indicator provides a quick visual reference for volatility-based price ranges, directly on your TradingView charts. It calculates and displays three ranges derived from the Daily Average True Range (ATR) with a standard 14-period setting:
5 Min (3% ATR): Ideal for very short-term scalping and quick intraday moves.
1 Hour (5% ATR): Useful for hourly setups, short-term trades, and intraday volatility assessment.
Day (10% ATR): Perfect for daily volatility context, swing trades, or placing stops and targets.
The ranges are clearly shown in a compact box at the top-right corner, providing traders immediate insights into realistic price movements, helping to optimise entries, stops, and profit targets efficiently.
Extreme Areas with MTF Screener by QTX Algo SystemsStatistically Extreme Areas with MTF Screener by QTX Algo Systems
Overview
This indicator is designed to automatically highlight zones where prices become statistically overextended, signaling potential reversal opportunities. Enhanced with a Multi Time Frame (MTF) Screener, it verifies these extremes across several timeframes for a comprehensive, multi-dimensional view of market conditions.
How It Works
Baseline Statistical Analysis:
The indicator establishes a baseline price range using historical data through a statistical percentile approach. This baseline reflects typical price extremes over time.
Volatility and Momentum Filters:
It incorporates a Bollinger Band Width Percentile (BBWP) to measure real-time volatility and combines this with a double‐smoothed SMI and a Price – Moving Average Ratio (PMARP) to assess short-term momentum. This dual-filter system ensures that signals are generated only when both volatility and momentum conditions are satisfied.
Directional Oscillator (BBO) Analysis:
A Bollinger Band Oscillator (BBO) is used to evaluate the slopes of the upper and lower bands, adding an extra layer of confirmation for identifying true market extremes.
MTF Screener Integration:
The added MTF Screener scans multiple timeframes, confirming that the statistically extreme conditions are not isolated events. This cross-verification provides a more robust signal, ensuring that the identified reversal zones are consistent across the market.
Customizable Visual Alerts:
The indicator allows for customizable color coding for various conditions (e.g., extreme low warnings, extreme high warnings, and potential reversals), offering clear, visual guidance for traders.
Why It’s Different and Valuable
This tool is more than just a simple merger of common indicators—it’s a carefully integrated system that validates price extremes across several dimensions. By combining statistical analysis with real-time volatility, momentum verification, and multi-timeframe confirmation, it provides a dynamic framework that helps traders identify high-probability reversal zones while minimizing false signals. The added MTF Screener ensures that these signals are consistent and reliable across different market views, enhancing the overall decision-making process.
How to Use
Monitor Visual Cues: Look for the color-coded signals that indicate statistically extreme price levels.
Confirm Across Timeframes: Use the MTF Screener component to ensure that the extreme conditions appear consistently across various timeframes.
Integrate with Your Strategy: Use this indicator alongside other technical tools to refine entry, exit, and stop-loss decisions.
Disclaimer
This indicator is for educational purposes only and is intended to support your trading analysis. It does not guarantee performance, and past results are not indicative of future outcomes. Always use proper risk management and conduct your own analysis before trading.
Volatility Based Momentum with MTF Screener by QTX Algo SystemsVolatility Based Momentum with MTF Screener by QTX Algo Systems
Overview
This indicator builds on our original Volatility Based Momentum tool by integrating a Multi Time Frame (MTF) Screener that provides real-time, cross-market momentum analysis. It dynamically adjusts momentum signals using adaptive volatility measurements, ensuring that signals reflect true market strength across various timeframes and assets.
How It Works
Core Momentum Analysis:
The indicator uses a double‐smoothed SMI combined with a Price – Moving Average Ratio (PMARP) to assess short-term momentum. These metrics filter out noise and generate per-candle signals based on sustained market energy.
Adaptive Volatility Measurement:
An adaptive volatility factor—derived from a Bollinger Band Width Percentile (BBWP) calculation—scales the momentum readings, ensuring that only strong signals in a sufficiently volatile market are considered.
MTF Screener Integration:
The MTF Screener scans multiple timeframes simultaneously, confirming that a momentum signal is consistent across different market views. This extra layer of screening reduces false signals and helps ensure that the detected momentum is robust and reliable.
Real-Time Visual Feedback:
Dynamic visual cues, such as color changes and signal markers, indicate when the momentum and volatility align, providing a clear, actionable overview.
Why It’s Different and Valuable
This indicator isn’t just a simple overlay of standard momentum and volatility measures—it’s a multi-layered system that verifies signals across multiple timeframes. The integrated MTF Screener provides broader context and cross-validation, making it a more dependable tool for confirming trend strength. This level of depth in analysis offers enhanced clarity and helps traders make more confident decisions compared to using conventional indicators in isolation.
How to Use
Review Per-Candle Signals: Observe the momentum signals generated on your chart and note when they are confirmed by the adaptive volatility measure.
Cross-Check with MTF Screener: Ensure that signals appear consistently across multiple timeframes before taking action.
Adjust Settings for Your Style: Customize the volatility threshold, and MTF settings to match your specific trading approach.
Integrate with Your Strategy: Use the insights from this indicator alongside other analysis tools to optimize your entry and exit points.
Disclaimer
This indicator is for educational purposes only and is intended to support your trading strategy. It does not guarantee performance, and past results are not indicative of future outcomes. Always apply proper risk management and conduct your own analysis before trading.
Continuation Opportunity with MTF Screener by QTX Algo SystemsContinuation Opportunity Indicator with MTF Screener by QTX Algo Systems
Overview
This enhanced indicator is designed to pinpoint key moments when an established trend is likely to continue. By combining traditional momentum analysis with dual volatility measures—and now integrating a powerful Multi Time Frame (MTF) Screener—it offers a multi-dimensional view of trend behavior. This tool not only detects when a pullback is simply a temporary consolidation (characterized by reduced volatility) but also confirms that the overall trend is poised to resume, validated across several timeframes.
How It Works
Core Methodology:
The base indicator uses a double‐smoothed Stochastic Momentum Index (SMI) combined with a Price – Moving Average Ratio (PMARP) to detect momentum crossovers that signal trend continuation. It also uses volatility filters to ensure that the signals occur only when market activity is strong.
Dual Volatility Analysis:
A Bollinger Band Width Percentile (BBWP) measure and historical volatility metrics work together to ensure that only meaningful pullbacks trigger signals—distinguishing between noise and genuine consolidation.
MTF Screener Integration:
The new MTF Screener feature extends the analysis beyond a single timeframe. It scans multiple assets and timeframes concurrently, confirming that a detected pullback or resumption signal appears consistently across the broader market view. This cross-verification minimizes false signals and provides traders with confidence that the trend continuation is robust.
Enhanced Visual Cues:
Color-coded backgrounds and well-defined signal triggers help traders quickly interpret when a pullback is likely just a consolidation phase and when increased volatility signals the trend’s resumption.
Why It’s Different and Valuable
Unlike a simple combination of separate indicators, this tool integrates each element in a systematic, layered approach. The MTF Screener adds an extra dimension by validating signals across different timeframes—ensuring that traders are not basing decisions on isolated, potentially misleading data. This cohesive design enhances overall accuracy and provides actionable insights that are more robust than what individual indicators would offer on their own.
How to Use
Monitor Visual Signals: Look for color-coded cues and momentum crossovers that appear after a pullback.
Validate Across Timeframes: Use the MTF Screener’s output to confirm that the continuation signal is consistent across various timeframes.
Integrate with Other Tools: Combine these signals with your existing technical analysis methods to refine your entry and exit points.
Disclaimer
This indicator is provided for educational purposes only and is intended to support your trading analysis. It does not guarantee performance, and past results are not indicative of future outcomes. Always use proper risk management and perform your own analysis before trading.
Dynamic Price ImpulseThis indicator is designed to capture price momentum without the lag typically found in traditional oscillators.
Core Mechanics
Instead of using simple price differences, the indicator normalizes changes relative to the average true range (ATR), making it adaptive to different volatility regimes.
By squaring the normalized change while preserving its sign, the indicator responds more aggressively to stronger price moves while remaining sensitive to smaller ones.
The indicator identifies periods when volatility is expanding, which often precede significant price movements.
Trading Strategy Applications
1. Momentum Signals:
o When the indicator crosses above zero, look for long entries
o When it crosses below zero, look for short entries
o The stronger the impulse (farther from zero), the stronger the signal
2. Early Trend Detection:
o Volatility expansion markers (yellow circles) often appear at the beginning of new trends
o Use these as early warning signals to prepare for potential entries
3. Trend Continuation:
o Strong readings in the direction of the trend suggest continuation
o Weakening readings suggest the trend may be losing steam
4. Counter-Trend Opportunities:
o Look for divergences between price and the indicator for potential reversals
o When price makes a new high but the indicator doesn't, consider potential shorts (and vice versa)
Fine-Tuning
• Length (14): Controls the lookback period for ATR calculation. Lower values make it more responsive but noisier.
• Threshold (1.5): Determines how much volatility needs to expand to trigger the volatility expansion signal.
• Smoothing (3): Reduces noise in the signal. Higher values reduce false signals but introduce more lag.
MSB BOS Market Structure [FTB]Track Market Structure Breaks (MSB) and Breaks of Structure (BOS) on your charts. This indicator does exactly that without clutter and with easy-to-spot.
🔑 Features:
MSB (Market Structure Break): Shows when price flips and breaks the previous high/low — possible start of a new trend.
BOS (Break of Structure): Highlights key structural breakouts in line with the existing trend.
✅ Pivot-Based Analysis (Body Focused)
Uses candle body-based pivot highs and lows to find clean market structure points (no wicks confusion here!).
Adjustable pivot strength — control how many candles you want on either side to define a swing.
✅ Clean Visual Markings
MSB and BOS lines with optional labels so you see exactly where breaks happen.
Customizable line style (Solid, Dashed, Dotted) to match your chart aesthetic.
Optional pivot markers to show minor swing highs/lows.
✅ Alerts Ready
Set alerts for any MSB or BOS, or filter to specific bullish/bearish breaks — never miss a key level again
💡 How to Use This Indicator:
Identify Trend Shifts: Use MSB to spot early trend reversals — when a previous structure breaks against the trend.
Catch Continuations: Watch for BOS to confirm trend continuation — great for riding the trend!
⚙️ Settings You Can Adjust:
Pivot Strength: How many candles to look back and forward for swing points (default: 3).
Show Pivots: Optional — highlight swing highs and lows for extra clarity.
Victor the Predictor - Gold Advanced Analytics Suite by SK v 2.0Victor the Predictor - Gold Advanced Analytics Suite by SK v2.0
Overview:
Victor the Predictor is a powerful trading indicator designed for advanced market analysis, combining classic technical indicators with volatility-based metrics and machine learning-based predictions. This suite is specifically optimized for trading gold (XAUUSD) but can be used effectively in other markets as well.
Key Features:
✅ Swing Levels & Trend Channels: Automatically detects key support and resistance levels, along with trend channels, to help identify optimal entry and exit points.
✅ Technical Indicators: Includes RSI, MACD, and ATR for trend strength assessment and momentum-based trading decisions.
✅ Machine Learning Forecasting: Implements a predictive algorithm that analyzes historical price action, volatility, and volume to provide directional forecasts.
✅ Smart Volatility Filtering: Avoids false signals by analyzing ATR-based volatility spikes and filtering out unstable market conditions.
✅ Candle Coloring & Signal Markers: Highlights strong bullish and bearish signals based on confluence criteria, making trade opportunities visually clear.
✅ Customizable Settings: Offers full flexibility to adjust indicator parameters for different trading styles and risk preferences.
How It Works:
🔹 Support & Resistance Zones: The script calculates the highest high and lowest low within a given period to define swing levels. The mid-point between these levels serves as a potential pivot area.
🔹 Trend Analysis: The indicator overlays trend channels using EMA (50) and ATR-based deviation bands, helping traders gauge market direction and volatility expansion.
🔹 Momentum & Volume Analysis: RSI and MACD are used to confirm trade entries, while volume percentile ranks help assess market participation.
🔹 Machine Learning Predictions: A simplified ML-based approach aggregates various technical indicators into a weighted prediction score, which is normalized and projected over a short-term horizon.
🔹 Trade Signals:
BUY Signal: RSI crosses above 50, MACD is bullish, price is above EMA-14, and volatility conditions are favorable.
SELL Signal: RSI crosses below 50, MACD is bearish, price is below EMA-14, and volatility conditions are favorable.
Strong signals appear only when volatility filters confirm a stable environment.
Visualization & Alerts:
Colored Candles: Green for strong bullish signals, red for strong bearish signals.
Support & Resistance Zones: Automatically plotted key price levels.
Trend Channels: Highlight areas of expected price movement.
ML Forecast Line: A projected trend based on historical data analysis.
Buy/Sell Markers: Clear trade signals displayed directly on the chart.
Usage & Optimization:
Works best on gold (XAUUSD) but can be applied to forex, indices, and commodities.
Ideal for swing traders and day traders who use technical confluence.
Recommended timeframes: 15M, 1H, 4H, Daily.
Adjust RSI, MACD, ATR, and ML sensitivity to fine-tune signals according to market conditions.
📌 Important Note:
This indicator does not guarantee future performance and should be used alongside proper risk management strategies. Always backtest before using it in live trading.
FTB Smart Trader System — Market Maker Levels, EMAs & VectorsThe FTB Trade Engine is an indicator suite I built for myself as a crypto trader. It's designed specifically for trading Institution levels, EMAs, PVSRA Volume Candles, and Session Timings. It helps me spot high probability trade setups without overcomplicating things.
🔑 Features of this Indicator
📌 🔥 Key Session Levels (extend lines in settings as needed)
✅ Weekly High & Low (HOW/LOW) — Automatically plots the previous week's high and low
✅ Daily High & Low (HOD/LOD) — Marks the prior day's range
✅ Asia Session High & Low — Plots the Asian session’s high and low, helping you detect potential breakouts or fakeouts, as Asia often sets the initial high and low of the day.
✅ 50% Asia Level — Automatically calculates and displays the midpoint between Asia’s high and low, an important level for intraday trading.
📌 🔥 Advanced EMA Suite
✅ Includes 10, 20, 50, 200, and 800 EMAs — providing key zones of support, resistance, and trend direction.
👀 Good to know: the break of the 50EMA WITH a vector candle is significant for reversals.
📌 🔥 PVSRA Candles
(👀 IMPORTANT: To properly view PVSRA candles, make sure to UNCHECK all default candle settings — Color Bars, Body, Borders, and Wick — in your chart's candle settings.)
✅ Price, Volume, Support & Resistance Analysis (PVSRA) Candles — These special candles combine price action with volume analysis, color-coded to highlight areas potentially influenced by market makers, institutions, and large players. Perfect for identifying key volume zones and quickly analyzing any coin or pair without switching tools.
Candle Colors Explained:
Bullish Candles:
🟢 Green — 200% increase in volume on bullish moves (strong buyer presence).
🔵 Blue — 150% increase in bullish volume, but may also indicate fatigue or possible reversal.
⚪ White — Normal bullish volume (standard green candles).
Bearish Candles:
🔴 Red — 200% increase in bearish volume compared to the last 10 candles (strong selling).
🟣 Magenta — 150% increase in bearish volume, signaling possible continuation or exhaustion.
⚫ Gray — Normal bearish volume (standard red candles).
Triple Doji SequenceThe Triple Doji Sequence indicator helps traders identify consecutive Doji candlestick patterns, allowing them to choose between spotting single, double, or triple Dojis. A Doji is detected when the candle's body is small relative to its wicks, with either the upper or lower wick being significantly larger. Users can customize their own Doji criteria by adjusting the body size and wick dominance settings. The indicator ensures that consecutive Dojis align in the same direction before confirming a valid pattern, making it easier to identify market indecision or potential trend reversals.
When the chosen Doji sequence is detected, the indicator plots a star (*) above bearish Dojis (upper wick dominant) and below bullish Dojis (lower wick dominant). It also sends alerts when a valid sequence is confirmed at the close of the bar. This tool helps traders refine their strategy by spotting repeated Doji formations, which may indicate key turning points or continuation patterns in price action.
How to Use the Triple Doji Sequence Indicator?
Apply the Indicator:
Add the Triple Doji Sequence indicator to your TradingView chart.
It will automatically scan for Doji patterns based on your settings.
Customize Your Doji Criteria:
Adjust the body size and wick dominance settings to define what qualifies as a Doji.
Choose whether to detect single, double, or triple Doji sequences.
Interpret the Signals:
A star (*) above a candle signals a bearish Doji (upper wick dominant).
A star (*) below a candle signals a bullish Doji (lower wick dominant).
Set Up Alerts:
Enable alerts to receive notifications when a Doji sequence is confirmed at bar close.
Choose alert frequency based on your trading strategy (e.g., once per bar, once per bar close).
Use in Trading Strategy:
Doji sequences can indicate trend reversals or market indecision.
Combine this indicator with support/resistance levels, volume, or other indicators to confirm signals.
PS: Good luck in finding a Triple Doji :)
Volatility BandsThe Volatility Bands script is a custom indicator designed to help traders visualize volatility levels in the market. It calculates dynamic bands around a central moving average, providing insights into potential support and resistance levels based on recent price action.
The script calculates multiple volatility bands (u0, u1, u2, d0, d1, d2) that adjust based on recent price movements. The outer bands (u2 and d2) represent extreme volatility levels, while the inner bands (u0, u1, d0, d1) indicate more immediate support and resistance.
Look for price reactions at the band levels. A touch of the upper bands may indicate overbought conditions, while a touch of the lower bands may indicate oversold conditions.
Central Moving Average: A smoothed moving average that adapts to price changes, providing a clear trend direction.
The script has no input parameters.
Script Functions:
erf(x): Calculates the error function for a given input x. Used in the calculation of the smoothing factor for the UMA.
uma(input): Provides a smoothed average that adapts to recent price changes, reducing lag compared to traditional moving averages.
dev(input, mu): Used to calculate the volatility bands around the central moving average.
MTF ATR BandsA simple but effective MTF ATR bands indicator.
The script calculate and display ATR bands low and high of the current timeframe using high, low inputs and an RMA moving average, adding to it ATR of the period multiplied with the user multiplier, default is set to 1.5.
Than is calculated a smoothed average of the range and the color of it based on its slope, same color is used to fill the atr bands.
Than the higher timeframe bands are calculated and displayed on the chart.
How can be used ?
The higher timeframe average and bands can give you long term direction of the trend and the current timeframes moving average and filling short term trend, for example using the 15 min chart with a 4h HTF bands, or an 1h with a daily, or a daily with an weekly or weekly with bi-monthly atr bands.
Also can be used as a stop loss indicator.
Hope you will like it, any question send me a PM.
