Breakaway Fair Value Gaps [LuxAlgo]The Breakaway Fair Value Gap (FVG) is a typical FVG located at a point where the price is breaking new Highs or Lows.
🔶 USAGE
In the screenshot above, the price range is visualized by Donchian Channels.
In theory, the Breakaway FVGs should generally be a good indication of market participation, showing favor in the FVG's breaking direction. This is a combination of buyers or sellers pushing markets quickly while already at the highest high or lowest low in recent history.
While this described reasoning seems conventional, looking into it inversely seems to reveal a more effective use of these formations.
When the price is pushed to the extremities of the current range, the price is already potentially off balance and over-extended. Then an FVG is created, extending the price further out of balance.
With this in consideration, After identifying a Breakaway FVG, we could logically look for a reversion to re-balance the gap.
However, it would be illogical to believe that the FVG will immediately mitigate after formation. Because of this, the dashboard display for this indicator shows the analysis for the mitigation likelihood and timeliness.
In the example above, the information in the dashboard would read as follows (Bearish example):
Out of 949 Bearish Breakaway FVGs, 80.19% are shown to be mitigated within 60 bars, with the average mitigation time being 13 bars.
The other 19.81% are not mitigated within 60 bars. This could mean the FVG was mitigated after 60 bars, or it was never mitigated.
The unmitigated FVGs within the analysis window will extend their mitigation level to the current bar. We can see the number of bars since the formation is represented to the right of the live mitigation level.
Utilizing the current distance readout helps to better judge the likelihood of a level being mitigated.
Additionally, when considering these mitigation levels as targets, an additional indicator or analysis can be used to identify specific entries, which would further aid in a system's reliability.
🔶 SETTINGS
Trend Length: Sets the (DC) Trend length to use for Identifying Breakaway FVGs.
Show Mitigation Levels: Optionally hide mitigation levels if you would prefer only to see the Breakaway FVGs.
Maximum Duration: Sets the analysis duration for FVGs, Past this length in bars, the FVG is counted as "Un-Mitigated".
Show Dashboard: Optionally hide the dashboard.
Use Median Duration: Display the Median of the Bar Length data set rather than the Average.
Indicatori e strategie
Vikas Buy Sell Signal_ 5 EMA’s, RSI 60_40, 2 Donchian StrategyDescription of the EMA RSI Donchian Trading Strategy
Overview: The EMA RSI Donchian Trading Strategy is a comprehensive trading system designed for use in TradingView. This strategy combines multiple technical indicators—Exponential Moving Averages (EMAs), the Relative Strength Index (RSI), and Donchian Channels—to identify optimal entry and exit points for both long and short trades. The script is built using Pine Script version 5 and is tailored to provide traders with visual signals and alerts for informed decision-making.
Key Features:
Indicator Inputs:
Exponential Moving Averages (EMAs): Users can customize the lengths of five EMAs:
Fast EMA (default: 9)
Mid EMA (default: 21)
Slow EMA (default: 55)
Additional EMAs of lengths 89 and 144.
Relative Strength Index (RSI): Users can define the RSI period (default: 14) and set overbought (default: 60) and oversold (default: 40) levels.
Donchian Channels: Users can specify lengths for two Donchian Channels (default: 21 and 74).
Calculations:
The script calculates the fast, mid, and slow EMAs based on the closing prices.
The RSI is computed using the defined period.
The upper and lower bands for both Donchian Channels, as well as their midpoints, are calculated to identify price ranges.
Visual Plotting:
The script plots the five EMAs on the chart using distinct colors and line widths for easy differentiation.
It also plots the upper, lower, and mid bands for both Donchian Channels with appropriate colors, providing a visual representation of price volatility.
Entry Conditions:
Long Entry: A long position is triggered when the fast EMA crosses above the slow EMA while the RSI is above the overbought level.
Short Entry: A short position is initiated when the fast EMA crosses below the slow EMA while the RSI is below the oversold level.
Risk Management:
Stop Loss: For long entries, a stop loss is set at 1% below the most recent swing high. For short entries, it is set at 1% above the most recent swing low.
Take Profit Targets: Two take profit targets are defined for both long and short positions, calculated at 2.618% and 3.6185% from the stop loss level.
Labels and Alerts:
The script adds labels to the chart indicating buy and sell signals when trades are initiated.
Alert conditions are implemented to notify users of long and short entry signals, allowing for timely execution of trades.
Conclusion: The EMA RSI Donchian Trading Strategy is a robust tool for traders seeking to leverage technical analysis for trading decisions. By combining multiple indicators, it enhances the ability to identify trends and potential reversals, while also incorporating essential risk management practices. This strategy is suitable for traders of all levels looking to improve their trading performance through systematic analysis.
Fibonacci Snap Tool [TradersPro]
OVERVIEW
The Fibonacci Snap tool automatically snaps to the swing high and swing low of the price data shown on the chart display. Fibonacci retracement levels can be used for entry, exit, or as a confirmation of trend continuation.
If the swing high on the chart comes before the swing low, the price is in a downtrend.If the swing high comes after the swing low, the price is in an uptrend.
We call the 23.60% Fibonacci level the momentum zone of the trend. Price in a solid trend, either up or down, will typically hold the 23.60% Fibonacci level as support (demand) in an uptrend or resistance (supply) in a downtrend.
Deeper Fibonacci levels of 38.20%, 50.00%, and 61.80% are corrective supply/demand zones. As price moves against the found trend, it can move into this range block we call the corrective zone.
Fibonacci retracement levels are used to identify potential supply/demand areas where price could reverse or consolidate. These levels are based on key ratios derived from the Fibonacci sequence, and we only use the core 23.60%, 38.20%, 50.00%, and 61.80% ratios.
CONCEPTS
Price action moves in trend cycles, these retracement levels help traders measure proportional relationships between the high/low swings in the price trend.
When a price trend is moving against the trend, traders can find opportunities to trade with the current trend at key Fibonacci levels. Fibonacci levels can be used to anticipate where price might find supply/demand imbalance and continue moving in the trend direction.
Traders apply the indicator by selecting a window of price they want to analyze in the chart display, and the Fibonacci Snap tool will snap to the high and low of the visible price display.
The Intent and Use of This Tool
The 23.60% level acts as a momentum or continuation of trend. The 38.20% to 61.80% range are corrective zones of the trend.
The 61.80% level, also known as the golden ratio (Google the term “Golden Ratio”; it's fun), can often represent the location of supply/demand imbalance.
In an uptrend, it can represent the area of no more selling supply, and the balance can shift to buying demand. In a downtrend, it can represent the area of no more buying demand and the balance can shift to selling supply.
When used with the Momentum Zones indicator, these two tools create a powerful combination for traders to find, implement, and manage trades.
Super ScriptKey Features
Opening Range Breakout (ORB):
Defines the first 10-minute candle range after market open (high and low).
Tracks breakout conditions where the price opens above or below the range.
VWAP Integration:
Calculates the Volume-Weighted Average Price (VWAP) and its slope to gauge intraday trend direction.
Used in conjunction with breakout alerts to validate trend strength.
Bollinger Bands (BB):
Implements 6-period Bollinger Bands with a multiplier of 2.
Determines the position of the middle Bollinger Band relative to the opening range to validate breakouts.
Alerts for Buy/Sell:
Triggers alerts when conditions for breakouts align with VWAP slope and Bollinger Band positioning.
Ensures alerts only occur within the first hour of trading to target high-volatility periods.
ATR-Based Trailing Stops:
Uses Average True Range (ATR) to calculate dynamic trailing stop levels.
Displays trailing stop values as a reference for position management.
ADX Signals:
Detects strong directional movements using the Average Directional Index (ADX).
Plots "Strong Signal" icons when ADX crosses above 20.
Signal Icons:
Displays BUY and SELL icons on the chart for visual clarity.
Uses white triangles for bearish signals and orange labels for BUY/SELL conditions.
How It Works
Market Open Setup:
Captures the high and low of the first 10-minute candle after the market opens (9:30 AM EST).
Monitors the price movement relative to this range.
Breakout Conditions:
Detects if the current candle opens above or below the first 10-minute candle range.
Confirms breakout signals using:
Positive VWAP slope (uptrend validation).
Middle Bollinger Band position (above or below the breakout range).
Dynamic Alerts:
Sends "Price Break Above" or "Price Break Below" alerts only once per day for validated conditions.
Combines multiple indicators to reduce false signals.
Position Tracking:
Tracks BUY/SELL positions based on the ATR trailing stop levels.
Adjusts the stop dynamically as the price moves.
ADX Strong Signals:
Highlights periods of strong directional trends.
Adds white triangle icons to emphasize bearish opportunities.
Visualization
Horizontal Lines: The high and low of the first 10-minute candle are plotted as white lines.
Middle Bollinger Band: A blue line displays the trend of the middle Bollinger Band.
Signal Icons: BUY and SELL signals are marked with small labels or triangles for quick interpretation.
ADX Triangles: White triangles signify strong ADX-based signals below the price.
Usage Tips
Trade During High Volatility:
Focus on the first hour of trading, where the script's alerts are most effective.
Set Alerts:
Activate TradingView alerts to stay informed when breakout or ADX conditions are met.
This script is ideal for day traders seeking precise entry points and swing traders looking for trend confirmation. With integrated breakout logic and strong trend detection, the Super Script enhances efficiency and confidence in trading decisions.
Venmo @Matt-Hierseman if you want to tip your script-tender. CHEERS and happy Trading!
Trend AnalyzerThe Trend Analyzer is designed to help traders identify and analyze market trends. Here's a simple explanation of its logic:
Main Features
Customizable Moving Average: The indicator plots a moving average on the chart. Users can choose from various types (SMA, EMA, WMA, VWMA, HMA, SMMA, TMA) and set the period. This flexibility allows traders to adapt the indicator to different trading styles and timeframes.
Trend Detection: It determines whether the current price is above or below the moving average, providing a clear visual representation of the current trend direction.
Sequence Counter: The indicator counts consecutive candles above or below the moving average. This feature helps traders identify trend strength and persistence, which can be crucial for timing entries and exits.
Statistical Analysis: It calculates probabilities for the next candle's direction based on historical data. This unique feature gives traders a statistical edge in predicting short-term price movements.
Visual Candle Counter: An optional feature that displays the number of consecutive candles above or below the moving average directly on the chart, enhancing visual analysis.
How It Works
The indicator continuously tracks the position of price relative to the chosen moving average.
It maintains a count of how many candles in a row have been above or below the moving average.
For each sequence length, it records historical data on how often the trend continued or reversed in the past.
This historical data is used to calculate probabilities for the next candle's direction, providing a statistical insight into potential price movements.
The indicator displays this information directly on the chart, allowing for quick and easy interpretation.
Practical Applications
Trend Confirmation: Use the indicator to confirm the strength and direction of current trends.
Entry and Exit Signals: The sequence counter and probability calculations can help in timing trades more effectively.
Risk Management: Understanding the statistical likelihood of trend continuation can aid in setting appropriate stop-loss and take-profit levels.
Market Analysis: The indicator provides valuable insights into market behavior and can be used for both short-term and long-term analysis.
While the Trend Analyzer provides valuable insights based on historical data and statistical analysis, it's important to remember that past performance does not guarantee future results. The financial markets are complex and influenced by numerous factors. This indicator should be used as part of a comprehensive trading strategy and not as a sole decision-making tool. Always practice proper risk management and consider seeking advice from financial professionals before making investment decisions.
How to generate profits with easy and basic indicatorsFirst post in a while, so please leave me feedback!
I'd like to start a series of posts where I explain and show how basic indicators can be utilized to maximize profits. Understanding basic indicators, such as MACD, RSI, Stochastics, Moving averages, etc are better than using advanced or complicated indicators. Often times, traders get caught up in trying to create the best indicator they can, but fail to realize that it won't perform well if they don't understand it. Instead, it is better to understand and learn which indicators control what kind of market, and how to tune each indicator to account for the market it is targeting.
In this example, I'll be focusing on the MACD and Linear Regression slope indicators. In my strategy, my MACD is slightly modified so that the smoothing function incorporates the WMA, TEMA in addition to the standard SMA and EMA. The difference between the 4 different types of moving averages may not seem significant since they're all a TYPE of moving average, but the difference becomes very clear when they're incorporated into a MACD calculation. As with many things in trading, there is no correct answer, but in this study I used the WMA simply because experience has taught me that the most recent point of data is the most important, which is utilized in the WMA calculation.
In addition to the MACD indicator, I add a Linear regression slope indicator. My script allows you to generate buy signals with the MACD indicator ALONE, or the Linear regression slope (LRS) indicator ONLY, or both. Similarly, the sell indicators are structured the same way. A take profit and stop loss is also utilized.
The LRS is designed to plot out 2 values: the linear regression value, and the slope of the linear regression value which is essentially the difference between 2 most current points. The buy indicator for LRS in my script can either be when the slope is increasing, when the linear regression value is greater than the price of the chart, or BOTH.
By combining the MACD and Linear regression into one script, we are left with 4 integer parameters to tune. In this example, we are using an initial capital of 10,000, with a 100% equity order size. The reason I am doing this is because I want to show how effective this strategy is compared to buying and holding Bitcoin under the same conditions. Assuming a commission of .1%, and a slippage of 10 ticks, this strategy is about +4000 compared to bitcoin (+25,000 vs +21,000.)
In the coming days and weeks, I'll be coming out with my simplified combo scripts that show how slightly modifying standard indicators, or combining 2 indicators can be better than using complicated indicators such as those claiming to be AI (artificial intelligence) or ML (machine learning) driven.
If you have any feedback, questions, or comments please leave them below! I am very transparent with over a decade of experience in data science and statistics, and an engineering background. Looking to help others! :)
Lastly, If you'd like to use my strategy and indicator, please send me a message. I also don't mind a challenge. Send me ANY chart, ANY market, ANY time frame, and I'll adapt a simplified (1-2 indicator) strategy to suit your needs.
Bull Bear Power [SpeedBot]The Bull Bear Power indicator is designed to provide a clear and dynamic view of market momentum, helping traders identify potential bullish and bearish market states. By leveraging smoothed ranges derived from price movements and ATR (Average True Range), this indicator overlays adaptive upper and lower boundaries directly on the price chart, offering intuitive and actionable insights.
Features:
Dynamic Bull/Bear States:
Identifies whether the market is bullish or bearish based on price action and the smoothed Bull/Bear Power ranges.
Overlaid Visualization:
Upper (Bullish) and Lower (Bearish) boundaries are displayed directly on the price chart for seamless integration with candlestick data.
Color-Coded Ranges:
Green lines signify a bullish market state, while red lines represent bearish conditions, providing quick visual interpretation.
ATR-Driven Levels:
Uses ATR (Average True Range) to create adaptive levels that respond to market volatility, ensuring relevance across different market conditions.
Customizable Settings:
Adjustable smoothing period and length to fit individual trading styles and timeframes.
Alerts:
Alerts notify traders when the market transitions between bullish and bearish states, enabling timely decision-making.
How to Use:
Bullish State:
When the price crosses above the upper smoothed range (green line), it indicates potential bullish momentum. Use this as a signal to consider long positions or confirm an uptrend.
Bearish State:
When the price crosses below the lower smoothed range (red line), it suggests bearish momentum. Use this as a signal to consider short positions or confirm a downtrend.
Dynamic Volatility Adjustment:
The indicator automatically adjusts to market conditions using ATR, making it suitable for trending and volatile environments.
Ideal For:
Swing traders looking for clear trend direction.
Scalpers who want quick insights into market bias.
Traders seeking an adaptive indicator that integrates momentum and volatility analysis.
This indicator combines simplicity, adaptability, and precision to help you stay ahead of the market. Add Bull Bear Power to your trading arsenal today!
User-Variable Low-Volume CalculatorThe indicator will look at the last 20x, 50x candles (user defined setting) and take the highest volume value in this period.
It will then mark a solid line against the volume, calculated by a user defined variable percentage (default 16%).
If you determine any volume values that are under 16% (for example) of the highest volume candles in any given period, this indicator will paint this 16% level onto a volume chart for you, this is useful to quickly and conveniently see which candles held a volume below this level
Fancy Oscillator Screener [Daveatt]⬛ OVERVIEW
Building upon LeviathanCapital original RSI Screener (), this enhanced version brings comprehensive technical analysis capabilities to your trading workflow. Through an intuitive grid display, you can monitor multiple trading instruments simultaneously while leveraging powerful indicators to identify market opportunities in real-time.
⬛ FEATURES
This script provides a sophisticated visualization system that supports both cross rates and heat map displays, allowing you to track exchange rates and percentage changes with ease. You can organize up to 40 trading pairs into seven customizable groups, making it simple to focus on specific market segments or trading strategies.
If you overlay on any circle/asset on the chart, you'll see the accurate oscillator value displayed for that asset
⬛ TECHNICAL INDICATORS
The screener supports the following oscillators:
• RSI - the oscillator from the original script version
• Awesome Oscillator
• Chaikin Oscillator
• Stochastic RSI
• Stochastic
• Volume Oscillator
• CCI
• Williams %R
• MFI
• ROC
• ATR Multiple
• ADX
• Fisher Transform
• Historical Volatility
• External : connect your own custom oscillator
⬛ DYNAMIC SCALING
One of the key improvements in this version is the implementation of dynamic chart scaling. Unlike the original script which was optimized for RSI's 0-100 range, this version automatically adjusts its scale based on the selected oscillator.
This adaptation was necessary because different indicators operate on vastly different numerical ranges - for instance, CCI typically ranges from -200 to +200, while Williams %R operates from -100 to 0.
The dynamic scaling ensures that each oscillator's data is properly displayed within its natural range, making the visualization both accurate and meaningful regardless of which indicator you choose to use.
⬛ ALERTS
I've integrated a comprehensive alert system that monitors both overbought and oversold conditions.
Users can now set custom threshold levels for their alerts.
When any asset in your monitored group crosses these thresholds, the system generates an alert, helping you catch potential trading opportunities without constant manual monitoring.
em will help you stay informed of market movements and potential trading opportunities.
I hope you'll find this tool valuable in your trading journey
All the BEST,
Daveatt
RSI + ATR Strategy for XAU/USD and Forex by KrylovDescription:
This strategy combines the RSI (Relative Strength Index) and ATR (Average True Range) indicators to identify trading opportunities on the XAU/USD and Forex markets. It is designed for intraday trading on the 5-minute timeframe, providing clear entry and exit signals based on volatility and trend filters.
How it works:
Indicators Used:
RSI: Detects oversold (<45) and overbought (>55) conditions and confirms entry signals when crossing its moving average.
ATR: Filters signals by ensuring sufficient volatility for trading.
Conditions for Entry:
Long (Buy):
RSI crosses above its moving average below the level of 45.
Volatility is above the ATR threshold.
Trading occurs only during active hours (8:00–21:00 Prague time).
Short (Sell):
RSI crosses below its moving average above the level of 55.
Volatility is above the ATR threshold.
Trading occurs only during active hours (8:00–21:00 Prague time).
Exit Conditions:
Trades are closed when a fixed take-profit (5000 ticks) or stop-loss (5000 ticks) level is reached.
Parameters for stop-loss and take-profit are customizable.
Why it’s unique:
This strategy combines trend and volatility filters for precision.
Users can customize key parameters like RSI length, ATR threshold, and risk levels.
It avoids trading during low-volatility periods by using ATR as a filter.
Backtesting Notes:
The default settings are optimized for XAU/USD on a $10,000 account with realistic slippage and commissions.
Results:
Win rate: 64.4%.
Profit factor: 1.1.
Over 100 trades to ensure statistical significance.
Users can adjust settings for other instruments or market conditions.
How to Use:
Apply the strategy to a 5-minute chart.
Customize parameters if necessary.
Monitor the strategy’s signals and adapt based on your trading style.
Chart Settings:
The chart is clean and includes:
RSI levels and moving average.
ATR line to visualize volatility.
Markers for trade entries and exits.
Jahul SirA trend indicator is a tool used in technical analysis to identify the direction and strength of a market trend. Here are some common features and descriptions of trend indicators:
1. **Moving Averages**: This smooths out price data to create a single flowing line, making it easier to identify the direction of the trend. The two most common types are Simple Moving Average (SMA) and Exponential Moving Average (EMA).
2. **Average Directional Index (ADX)**: This measures the strength of a trend. It ranges from 0 to 100, where a higher value indicates a stronger trend.
3. **Moving Average Convergence Divergence (MACD)**: This is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price.
4. **Bollinger Bands**: This uses standard deviation to create bands above and below a moving average. The width of the bands changes based on market volatility and helps to identify trend direction and strength.
5. **Relative Strength Index (RSI)**: While primarily a momentum oscillator, RSI can also give insight into trend strength. It ranges from 0 to 100 and helps identify overbought or oversold conditions.
6. **Ichimoku Cloud**: This is a comprehensive indicator that defines support and resistance, identifies trend direction, gauges momentum, and provides trading signals.
These indicators are widely used by traders and analysts to make informed decisions about buying or selling assets.
Would you like to dive deeper into any specific trend indicator? 📈
UVR Crypto TrendINDICATOR OVERVIEW: UVR CRYPTO TREND
The UVR Crypto Trend indicator is a custom-built tool designed specifically for cryptocurrency markets, utilizing advanced volatility, momentum, and trend-following techniques. It aims to identify trend reversals and provide buy and sell signals by analyzing multiple factors, such as price volatility(UVR), RSI (Relative Strength Index), CMF (Chaikin Money Flow), and EMA (Exponential Moving Average). The indicator is optimized for CRYPTO MARKETS only.
KEY FEATURES AND HOW IT WORKS
Volatility Analysis with UVR
The UVR (Ultimate Volatility Rate) is a proprietary calculation that measures market volatility by comparing significant price extremes and smoothing the data over time.
Purpose: UVR aims to reduce noise in low-volatility environments and highlight significant movements during higher-volatility periods. While it strives to improve filtering in low-volatility conditions, it does not guarantee perfect performance, making it a balanced and adaptable tool for dynamic markets like cryptocurrency.
HOW UVR (ULTIMATE VOLATILITY RATE) IS CALCULATED
UVR is calculated using a method that ensures precise measurement of market volatility by comparing price extremes across consecutive candles:
Volatility Components:
Two values are calculated to represent potential price fluctuations:
The absolute difference between the current candle's high and the previous candle's low:
Volatility Component 1=∣High−Low ∣
The absolute difference between the previous candle's high and the current candle's low:
Volatility Component 2=∣High −Low∣
Volatility Ratio:
The larger of the two components is selected as the Volatility Ratio, ensuring UVR captures the most significant movement:
Volatility Ratio=max(Volatility Component 1,Volatility Component 2)
Smoothing with SMMA:
To stabilize the volatility calculation, the Volatility Ratio is smoothed using a Smoothed Moving Average (SMMA) over a user-defined period (e.g., 14 candles):
UVR=(UVR(Previous)×(Period−1)+Volatility Ratio)/Period
This calculation ensures UVR adapts dynamically to market conditions, focusing on significant price movements while filtering out noise.
RSI FOR MOMENTUM DETECTION
RSI (Relative Strength Index) identifies overbought and oversold conditions.
Trend Confirmation at the 50 Level
RSI values crossing above 50 signal the potential start of an upward trend.
RSI values crossing below 50 indicate the potential start of a downward trend.
Key Reversals at Extreme Levels
RSI detects trend reversals at overbought (>70) and oversold (<30) levels.
For example:
Overbought Trend Reversal: RSI >70 followed by bearish price action signals a potential downtrend.
Oversold Trend Reversal: RSI <30 with bullish confirmation signals a potential uptrend.
Rare Extreme RSI Readings
Extreme levels, such as RSI <12 (oversold) or RSI >88 (overbought), are used to identify rare yet powerful reversals.
---HOW IT DIFFERS FROM OTHER INDICATORS---
Using UVR High and Low Values
The Ultimate Volatility Rate (UVR) focuses on analyzing the high and low price ranges of the market to measure volatility.
Unlike traditional trend indicators that rely primarily on momentum or moving average crossovers, UVR leverages price extremes to better identify trend reversals.
This approach ensures fewer false signals during low-volatility phases and more accurate trend detection during high-volatility conditions.
UVR as the Core Component
The indicator is fundamentally built around UVR as the primary filter, while supporting tools like RSI (momentum detection), CMF (volume confirmation), and EMA (trend validation) complement its functionality.
By integrating these additional components, the indicator provides a multidimensional analysis rather than relying solely on a single approach.
Dynamic Adaptation to Volatility
UVR dynamically adjusts to market conditions, striving to improve filtering in low-volatility phases. While not flawless, this approach minimizes false signals and adapts more effectively to varying levels of market activity.
Trend Clouds for Visual Guidance
UVR-based dynamic clouds visually mark high and low price areas, highlighting potential consolidation or retracement zones.
These clouds serve as guides for setting stop-loss or take-profit levels, offering clear risk management strategies.
BUY AND SELL SIGNAL LOGIC
BUY CONDITIONS
Momentum-Based Buy-Entry
RSI >50, CMF >0, and the close price is above EMA50.
The price difference between open and close exceeds a threshold based on UVR.
Oversold Reversal
RSI <30 and CMF >0 with a strong bullish candle (close > open and UVR-based sensitivity filter).
Breakout Confirmation
The price breaks above a previously identified resistance, with conditions for RSI and CMF supporting the breakout.
Reversal from Oversold RSI Extreme
RSI <12 on the previous candle with a strong rebound on the current candle with UVR confirmation filter.
SELL CONDITIONS
Momentum-Based Sell-Entry
RSI <50, CMF <0, and the close price is below EMA50.
The price difference between open and close exceeds the UVR threshold.
Overbought Reversal
RSI >70 with bearish price action (open > close and UVR-based sensitivity filter).
Breakdown Confirmation
The price breaks below a previously identified support, with RSI and CMF supporting the breakdown.
Reversal from Overbought RSI Extreme
RSI >88 on the previous candle with a bearish confirmation on the current candle with UVR confirmation filter.
BUY AND SELL SIGNALS VISUALIZATION
The UVR Crypto Trend Indicator visually represents buy and sell conditions using dynamic plots, making it easier for traders to interpret and act on the signals. Below is an explanation of the visual representation:
Buy Signals and Visualization
Signal Trigger:
A buy signal is generated when one of the defined Buy Conditions is met (e.g., RSI >50, CMF >0, price above EMA50).
Visual Representation:
A blue upward arrow appears at the candle where the buy condition is triggered.
A blue cloud forms above the price candles, representing the strength of the bullish trend. The cloud dynamically adapts to market volatility, using the UVR calculation to mark support zones or consolidation levels.
Purpose of the Blue Cloud:
It acts as a visual guide for price movements and stay horizontal when the trend is not moving up
Sell Signals and Visualization
Signal Trigger:
A sell signal is generated when one of the defined Sell Conditions is met (e.g., RSI <50, CMF <0, price below EMA50).
Visual Representation:
A red downward arrow appears at the candle where the sell condition is triggered.
A red cloud forms below the price candles, representing the strength of the bearish trend. Like the blue cloud, it uses the UVR calculation to dynamically mark resistance zones or potential retracement levels.
Purpose of the Red Cloud:
It acts as a visual guide for price movements and stay horizontal when the trend is not moving down.
CONCLUSION
The UVR Crypto Trend indicator provides a powerful tool for trend reversal detection by combining volatility analysis, momentum confirmation, and trend-following techniques. Its unique use of the Ultimate Volatility Rate (UVR) as a core element, supported by proven indicators like RSI, CMF, and EMA, ensures reliable and actionable signals tailored for the crypto market's dynamic nature. By leveraging UVR’s high and low price range analysis, it achieves a level of precision that traditional indicators lack, making it a high-performing system for cryptocurrency traders.
Enhanced MACD with Trend Confirmation (RMAC) [visualSilicon]RMAC - Enhanced MACD with Trend Confirmation
Description:
The Relative Moving Average Convergence Divergence (RMAC) is an innovative adaptation of the traditional MACD indicator that helps identify high-probability trade setups by combining trend analysis with dynamic support/resistance levels.
Key Features:
Dynamic threshold lines that adapt to recent price action
Combines MACD with a signal averaging system to reduce false signals
Clear visual signals for both long and short setups
Customizable parameters for different timeframes and trading styles
How It Works:
The indicator calculates a signal average based on the highest and lowest signal values over a specified period. This creates dynamic threshold lines that help filter out noise and identify stronger trend movements. A trading signal occurs when the signal line crosses and closes above/below these threshold lines while moving in the direction of the overall trend.
Parameters:
Signal Average Length: Period for calculating the dynamic thresholds (default: 45)
Fast Length: Short-term EMA period (default: 2)
Slow Length: Long-term EMA period (default: 20)
Signal Smoothing: Smoothing period for the signal line (default: 1)
MA Types: Choose between SMA or EMA for both oscillator and signal calculations
Best Practices:
Use in conjunction with overall trend analysis
Look for setups where price respects key support/resistance levels
Consider volume confirmation at potential entry points
More reliable signals typically occur when used on higher timeframes
Limitations:
Like all indicators, RMAC can produce false signals, especially in choppy markets
Should not be used as a standalone trading system
Past performance does not guarantee future results
Backtest thoroughly before using in live trading
This indicator is free and open-source. If you find it useful, please consider leaving a like or comment.
Note: Always use proper risk management and combine this tool with other forms of analysis for best results.
True Range Trend StrengthThis script is designed to analyze trend strength using True Range calculations alongside Donchian Channels and smoothed moving averages. It provides a dynamic way to interpret market momentum, trend reversals, and anticipate potential entry points for trades.
Key Functionalities:
Trend Strength Oscillator:
Calculates trend strength based on the difference between long and short momentum derived from ATR (Average True Range) adjusted stop levels.
Smooths the trend strength using a simple moving average for better readability.
Donchian Channels on Trend Strength Oscillator:
Plots upper and lower Donchian Channels on the smoothed trend strength oscillator.
Traders can use these levels to anticipate breakout points and determine the strength of a trend.
Zero-Cross Shading:
Highlights bullish and bearish zones with shaded backgrounds:
Green for bullish zones where smoothed trend strength is above zero.
Red for bearish zones where smoothed trend strength is below zero.
Moving Averages for Oscillator:
Overlays fast and slow moving averages on the oscillator to provide crossover signals:
Fast MA Cross Above Slow MA: Indicates bullish momentum.
Fast MA Cross Below Slow MA: Indicates bearish momentum.
Alerts:
Alerts are available for MA crossovers, allowing traders to receive timely notifications about potential trend reversals or continuation signals.
Anticipating Entries with Donchian Channels:
The integration of Donchian Channels offers an edge in anticipating excellent trade entries.
Traders can use the oscillator's position relative to the channels to gauge oversold/overbought conditions or potential breakouts.
Use Case:
This script is particularly useful for traders looking to:
Identify the strength and direction of market trends.
Time entries and exits based on dynamic Donchian Channel levels and trend strength analysis.
Incorporate moving averages and visual cues for better decision-making.
CacauGomes _ Delta Average vs PriceCacauGomes _ Delta Average vs Price
O indicador "CacauGomes _ Delta Average vs Price" foi desenvolvido para oferecer uma análise completa de desvio percentual entre o preço atual e uma média móvel simples, combinada com um estudo avançado do Momentum e do MACD.
Além disso, ele utiliza uma tabela no gráfico para exibir informações importantes de forma organizada e visualmente acessível. Este indicador é ideal para traders que desejam entender desvios de preço, tendências de momentum e interações entre indicadores-chave.
Funcionalidades Principais
Cálculo do Desvio Percentual do Preço em Relação à Média Móvel (SMA):
O indicador compara o preço de fechamento atual com a média móvel configurada (Per_Media).
Apresenta o desvio absoluto (ind03) e percentual (ind04), exibidos dinamicamente na tabela.
Análise Avançada de Momentum e MACD:
O Momentum é calculado com base em 6 períodos padrão e suavizado por uma EMA configurável (ind05).
O MACD é aplicado ao Momentum para oferecer uma visão ajustada das tendências do mercado.
Diferença Entre Indicadores (MACD e Desvio de Preço):
Um cálculo adicional (ind06) mostra a diferença entre os dois principais indicadores, permitindo avaliar desvios entre Momentum e preço.
Tabela de Dados no Gráfico:
Exibe os valores de:
Diferença absoluta do preço em pontos (ind03).
Diferença percentual do preço (ind04).
Diferença entre o MACD e o desvio do preço (ind06), com coloração dinâmica para indicar a direção.
Coloração Dinâmica das Barras:
Três modos de coloração, selecionáveis via menu:
Variação Percentual: Destaca desvios acima ou abaixo de um percentual configurável.
Diferença de Indicadores: Mostra a relação entre o MACD e o desvio do preço.
Tendência do MACD: Colore as barras com base na inclinação do MACD (alta ou baixa).
Sem Cor: Desativa a coloração das barras.
Visualização Gráfica Avançada:
Plotagem das linhas de Momentum, MACD e EMA do Momentum, com estilos personalizáveis.
Configurações Personalizáveis
Médias:
Per_Media: Período da média móvel simples para cálculo do desvio.
Percentual: Percentual limite para destacar desvios relevantes.
Momentum:
mom: Período do cálculo do Momentum.
mmom: Período da média do Momentum (EMA).
MACD:
macd_fast: Período da média rápida do MACD.
macd_slow: Período da média lenta do MACD.
macd_signal: Período da linha de sinal do MACD.
Coloração:
cor: Escolha do modo de coloração das barras:
"Variação Percentual".
"Diferença de Indicadores".
"Tendência MACD".
"Sem Cor".
Como Usar
Configure os parâmetros de acordo com seu estilo de trading e o ativo analisado.
Use a tabela para obter insights sobre desvios de preço, percentual e diferenças entre indicadores.
Escolha o modo de coloração das barras para identificar rapidamente tendências ou condições específicas do mercado.
Combine este indicador com outras ferramentas para confirmar sinais de entrada e saída.
Público-Alvo
Swing Traders e Day Traders que buscam uma análise detalhada de desvios de preço.
Traders interessados em avaliar a interação entre Momentum, MACD e desvios de preço.
Qualquer trader que deseje insights rápidos e organizados com auxílio de uma tabela integrada.
Experimente o indicador e otimize suas estratégias com análises profundas e flexíveis! 🚀
English Version
The "CacauGomes _ Delta Average vs Price" indicator was developed to provide a comprehensive analysis of the percentage deviation between the current price and a simple moving average, combined with an advanced study of Momentum and MACD.
Additionally, it uses a table on the chart to display important information in an organized and visually accessible manner. This indicator is ideal for traders looking to understand price deviations, momentum trends, and interactions between key indicators.
Key Features
Calculation of Percentage Deviation Between Price and Moving Average (SMA):
The indicator compares the current closing price with the configured moving average (Per_Media).
Displays the absolute deviation (ind03) and percentage deviation (ind04), dynamically shown in the table.
Advanced Momentum and MACD Analysis:
Momentum is calculated based on a 6-period standard and smoothed by a configurable EMA (ind05).
MACD is applied to the Momentum, providing an adjusted view of market trends.
Difference Between Indicators (MACD and Price Deviation):
An additional calculation (ind06) shows the difference between the two main indicators, allowing traders to evaluate deviations between Momentum and price.
Data Table on the Chart:
Displays the values of:
Absolute price difference in points (ind03).
Percentage price difference (ind04).
Difference between MACD and price deviation (ind06), with dynamic coloring to indicate direction.
Dynamic Bar Coloring:
Three coloring modes, selectable via menu:
Percentage Variation: Highlights deviations above or below a configurable percentage.
Indicator Difference: Shows the relationship between MACD and price deviation.
MACD Trend: Colors the bars based on the MACD slope (uptrend or downtrend).
No Color: Disables bar coloring.
Advanced Graphical Visualization:
Plots lines for Momentum, MACD, and Momentum EMA with customizable styles.
Customizable Settings
Moving Averages:
Per_Media: Period of the simple moving average used for deviation calculation.
Percentual: Limit percentage to highlight relevant deviations.
Momentum:
mom: Momentum calculation period.
mmom: Momentum moving average period (EMA).
MACD:
macd_fast: Fast period for MACD calculation.
macd_slow: Slow period for MACD calculation.
macd_signal: Signal line period for MACD.
Coloring:
cor: Choice of bar coloring mode:
"Percentage Variation"
"Indicator Difference"
"MACD Trend"
"No Color"
How to Use
Configure the parameters according to your trading style and the analyzed asset.
Use the table to gain insights into price deviations, percentages, and differences between indicators.
Choose the bar coloring mode to quickly identify trends or specific market conditions.
Combine this indicator with other tools to confirm entry and exit signals.
Target Audience
Swing traders and day traders seeking detailed analysis of price deviations.
Traders interested in evaluating the interaction between Momentum, MACD, and price deviations.
Any trader looking for quick and organized insights with the help of an integrated table.
Try the indicator and optimize your strategies with in-depth and flexible analysis! 🚀
Bollinger Bands with ADX Filter이 지표는
Bollinger Bands와 ADX(Average Directional Index)를 결합하여
매수/매도 신호를 생성하는 전략을 구현한 것입니다.
1. 입력 값 (Inputs)
Bollinger Bands (BB)
bb_length: Bollinger Bands 계산에 사용되는 기간 (기본값: 20)
bb_mult: Bollinger Bands의 상한선 및 하한선을 계산할 때 사용되는 곱셈 인자 (기본값: 2.0)
Fast EMA (빠른 지수 이동 평균)
fast_ma_len: 빠른 EMA의 기간 (기본값: 3)
Awesome Oscillator (AO)
ao_slow: AO의 느린 기간 (기본값: 34)
ao_fast: AO의 빠른 기간 (기본값: 5)
ADX (평균 방향 지수)
adx_length: ADX를 계산할 때 사용되는 기간 (기본값: 14)
adx_threshold: ADX가 강한 추세를 나타내기 위한 기준선 (기본값: 20)
Squeeze 필터 (BB Squeeze 필터)
sqz_length: BB Squeeze 계산에 사용되는 기간 (기본값: 100)
sqz_threshold: BB Squeeze의 임계값 (기본값: 50)
2. 계산 부분 (Calculations)
Bollinger Bands, Fast EMA, Awesome Oscillator, ADX 및 Squeeze 필터를 계산합니다.
Bollinger Bands 계산:
- basis: Bollinger Bands의 중심선 (단순 이동 평균)
- dev: 표준 편차 (가격 변동성)
- bb_upper: 상한선 (중심선 + 2배 표준 편차)
- bb_lower: 하한선 (중심선 - 2배 표준 편차)
Fast EMA (빠른 지수 이동 평균):
- fast_ma: 지정된 기간 (fast_ma_len)을 기준으로 계산된 빠른 EMA
Awesome Oscillator (AO):
- ao: AO는 빠른 (5 기간) 단순 이동 평균과 느린 (34 기간) 단순 이동 평균의 차이로 계산
- ao_direction: AO가 양수일 때 상승 추세로 판단하고, 음수일 때 하락 추세로 판단하여
1 또는 -1로 표시됩니다.
ADX 계산:
- plus_dm, minus_dm: 가격의 상승 및 하락 움직임을 계산하여 plus_dm (상승 방향)과
minus_dm (하락 방향)을 계산합니다.
- tr: True Range (진짜 범위)
- atr: 평균 진짜 범위
- plus_di, minus_di: 상승 및 하락 방향의 지표
- adx: ADX는 plus_di와 minus_di를 이용하여 강한 추세를 확인합니다.
ADX 값이 adx_threshold 이상이면 강한 추세로 간주됩니다.
Bollinger Band Squeeze:
- spread: Bollinger Bands의 상한선과 하한선의 차이
- avgspread: spread의 평균값
- bb_squeeze: 상대적인 Bollinger Bands의 폭 (Squeeze 상태를 나타내는 값)
3. 조건 설정 (Conditions)
이 부분에서는 매수 및 매도 조건을 정의합니다.
ADX Trend Filter:
is_strong_trend: ADX가 adx_threshold보다 클 때만 강한 추세로 간주합니다.
Squeeze Filter:
is_in_squeeze: Bollinger Bands의 상대적인 폭이 sqz_threshold 이하일 때
Squeeze 상태로 간주합니다.
Breakout Conditions:
break_up: 매수 신호는 다음 조건을 만족할 때 발생합니다:
- Fast EMA가 Bollinger Bands의 중심선을 상향 돌파 (crossup)
- 현재 가격이 중심선 위에 있으며, 상한선보다 낮음
- AO가 상승 추세를 보이고 있으며 (AO가 증가하고 있을 때)
- ADX가 강한 추세를 나타내는 경우 (ADX > adx_threshold)
break_down: 매도 신호는 다음 조건을 만족할 때 발생합니다:
- Fast EMA가 Bollinger Bands의 중심선을 하향 돌파 (crossunder)
- 현재 가격이 중심선 아래에 있으며, 하한선보다 높음
- AO가 하락 추세를 보이고 있음 (AO가 감소하고 있을 때)
- ADX가 강한 추세를 나타내는 경우 (ADX > adx_threshold)
4. 차트에 플로팅 (Plotting)
Bollinger Bands:
plot(bb_upper, "BB Upper"), plot(bb_lower, "BB Lower"), plot(basis, "BB Basis")는
Bollinger Bands의 상한선, 하한선 및 중심선을 차트에 표시합니다.
Fast EMA:
plot(fast_ma, "Fast EMA")는 Fast EMA를 차트에 표시합니다.
매수/매도 신호:
plotshape(break_up, title="Buy Signal")는
매수 신호가 발생하면 "Buy"라는 텍스트와 함께 차트에 표시됩니다.
plotshape(break_down, title="Sell Signal")는
매도 신호가 발생하면 "Sell"이라는 텍스트와 함께 차트에 표시됩니다.
ADX:
plot(adx, "ADX")는 ADX 값을 차트에 표시합니다.
hline(adx_threshold, "ADX Threshold")는 ADX의 임계값을 점선으로 표시합니다.
Squeeze Zone:
fill(plot(bb_upper), plot(bb_lower), color=is_in_squeeze ? color.yellow : na, transp=80)는
Bollinger Bands의 폭이 좁을 때 Squeeze 영역을 노란색으로 표시합니다.
5. 알림 (Alerts)
alertcondition(break_up, title="Buy Alert", message="Buy Signal detected!"):
매수 신호 발생 시 알림을 보냅니다.
alertcondition(break_down, title="Sell Alert", message="Sell Signal detected!"):
매도 신호 발생 시 알림을 보냅니다.
전체적인 전략
이 전략은 Bollinger Bands를 사용하여 가격의 변동성을 확인하고,
ADX로 강한 추세를 필터링하여 매수/매도 신호를 생성합니다.
Fast EMA와 Awesome Oscillator (AO)를 결합하여
추세 방향과 변동성을 추가로 확인합니다.
또한 BB Squeeze를 사용하여
가격이 좁은 범위에서 움직일 때 강한 변동성을 예측합니다.
15분봉 ,adx_threshold 35, 또는 40 에 잘 작동됨
Harmonic Pattern Detector (75 patterns)Harmonic Pattern Detector offers a record amount of "Harmonic Patterns" in one script, with 75 different patterns detected, together with up to 99 different swing lengths.
🔶 USAGE
Harmonic Patterns are detected from several different ZigZag lines, derived from Swings with different lengths (shorter - longer term)
Depending on the settings ' Minimum/Maximum Swing Length ', the user will see more or less patterns from shorter and/or longer-term swing points.
🔹 Fibonacci Ratio
Certain patterns have only one ratio for a specific retrace/extension instead of one upper and one lower limit. In this case, we add a ' Tolerance ', which adds a percentage tolerance below/above the ratio, creating two limits.
A higher number may show more patterns but may become less valid.
Hoovering over points B, C, and D will show a tooltip with the concerning limits; adjusted limits will be seen if applicable.
Tooltips in settings will also show which patterns the Fibonacci Ratio applies to.
🔹 Triangle Area Ratio
Using Heron's formula , the triangle area is calculated after the X-Y axis is normalized.
Users can filter patterns based on the ratio of the smallest triangle to the largest triangle.
A lower Triangle Area Ratio number leads to more symmetrical patterns but may appear less frequently.
🔶 DETAILS
Harmonic patterns are based on geometric patterns, where the retracement/extension of a swing point must be located between specific Fibonacci ratios of the previous swing/leg. Different Harmonic Patterns require unique ratios to become valid patterns.
In the above example there is a valid 'Max Butterfly' pattern where:
Point B is located between 0.618 - 0.886 retracement level of the X-A leg
Point C is located between 0.382 - 0.886 retracement level of the A-B leg
Point D is located between 1.272 - 2.618 extension level of the B-C leg
Point D is located between 1.272 - 1.618 extension level of the X-A leg
Harmonic Pattern Detector uses ZigZag lines, where swing highs and swing lows alternate. Each ZigZag line is checked for valid Harmonic Patterns . When multiple types of Harmonic Patterns are valid for the same sequence, the pattern will be named after the first one found.
Different swing lengths form different ZigZag lines.
By evaluating different ZigZag lines (up to 99!), shorter—and longer-term patterns can be drawn on the same chart.
🔹 Blocks
The patterns are organized into blocks that can be toggled on or off with a single click.
When a block is enabled, the user can still select which specific patterns within that block are enabled or disabled.
🔹 Visuals
Besides color settings, labels can show pattern names or arrows at point D of the pattern.
Note this will happen 1 bar after validation because one extra bar is needed for confirmation.
An option is included to show only arrows without the patterns.
🔹 Updated Patterns
When a Swing Low is followed by a lower low or a Swing High followed by a higher high , triggering a pattern identical to a previous one except with a different point D, the pattern will be updated. The previous C-D line will be visible as a dashed line to highlight the event. Only the last dashed line is shown when this happens more than once.
🔹 Optimization
The script only verifies the last leg in the initial phase, significantly reducing the time spent on pattern validation. If this leg doesn't align with a potential Harmonic Pattern , the pattern is immediately disregarded. In the subsequent phase, the remaining patterns are quickly scrutinized to ensure the next leg is valid. This efficient process continues, with only valid patterns progressing to the next phase until all sequences have been thoroughly examined.
This process can check up to 99 ZigZag lines for 75 different Harmonic Patterns , showcasing its high capacity and versatility.
🔹 Ratios
The following table shows the different ratios used for each Harmonic Pattern .
' min ' and ' max ' are used when only one limit is provided instead of 2. This limit is given a percentage tolerance above and below, customizable by the setting ' Tolerance - Fibonacci Ratio '.
For example a ratio of 0.618 with a tolerance of 1% would result in:
an upper limit of 0.624
a lower limit of 0.612
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| NAME PATTERN | BCD (BD) | ABC (AC) | XAB (XB) | XAD (XD) |
| | min max | min max | min max | min max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| 'ABCD' | 1.272 - 1.618 | 0.618 - 0.786 | | |
| '5-0' | 0.5 *min - 0.5 *max | 1.618 - 2.24 | 1.13 - 1.618 | |
| 'Max Gartley' | 1.128 - 2.236 | 0.382 - 0.886 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Gartley' | 1.272 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'NN Gartley' | 1.128 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'NN A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'Alt Bat' | 2.0 - 3.618 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Max Bat' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'NN Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'NN Alt Bat' | 2.0 - 4.236 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'NN A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'NN A Alt Bat' | 2.618*min - 2.618*max | 1.128 - 2.618 | 0.236 - 0.5 | 0.886*min - 0.886*max |
| 'Butterfly' | 1.618 - 2.618 | 0.382 - 0.886 | 0.786*min - 0.786*max | 1.272 - 1.618 |
| 'Max Butterfly' | 1.272 - 2.618 | 0.382 - 0.886 | 0.618 - 0.886 | 1.272 - 1.618 |
| 'Butterfly 113' | 1.128 - 1.618 | 0.618 - 1.0 | 0.786 - 1.0 | 1.128*min - 1.128*max |
| 'A Butterfly' | 1.272*min - 1.272*max | 1.128 - 2.618 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Crab' | 2.24 - 3.618 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'Deep Crab' | 2.618 - 3.618 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'A Crab' | 1.618 - 2.618 | 1.128 - 2.618 | 0.276 - 0.446 | 0.618*min - 0.618*max |
| 'NN Crab' | 2.236 - 4.236 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'NN Deep Crab' | 2.618 - 4.236 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'NN A Crab' | 1.128 - 2.618 | 1.128 - 2.618 | 0.236 - 0.447 | 0.618*min - 0.618*max |
| 'NN A Deep Crab' | 1.128*min - 1.128*max | 1.128 - 2.618 | 0.236 - 0.382 | 0.618*min - 0.618*max |
| 'Cypher' | 1.272 - 2.00 | 1.13 - 1.414 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'New Cypher' | 1.272 - 2.00 | 1.414 - 2.14 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'Anti New Cypher' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 1.272*min - 1.272*max |
| 'Shark 1' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'Shark 1 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 0.886*min - 0.886*max |
| 'Leonardo' | 1.128 - 2.618 | 0.382 - 0.886 | 0.5*min - 0.5*max | 0.786*min - 0.786*max |
| 'NN A Leonardo' | 2.0*min - 2.0*max | 1.128 - 2.618 | 0.382 - 0.886 | 1.272*min - 1.272*max |
| 'Nen Star' | 1.272 - 2.0 | 1.414 - 2.14 | 0.382 - 0.618 | 1.272*min - 1.272*max |
| 'Anti Nen Star' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 0.786*min - 0.786*max |
| '3 Drives' | 1.272 - 1.618 | 0.618 - 0.786 | 1.272 - 1.618 | 1.618 - 2.618 |
| 'A 3 Drives' | 0.618 - 0.786 | 1.272 - 1.618 | 0.618 - 0.786 | 0.13 - 0.886 |
| '121' | 0.382 - 0.786 | 1.128 - 3.618 | 0.5 - 0.786 | 0.382 - 0.786 |
| 'A 121' | 1.272 - 2.0 | 0.5 - 0.786 | 1.272 - 2.0 | 1.272 - 2.618 |
| '121 BG' | 0.618 - 0.707 | 1.128 - 1.733 | 0.5 - 0.577 | 0.447 - 0.786 |
| 'Black Swan' | 1.128 - 2.0 | 0.236 - 0.5 | 1.382 - 2.618 | 1.128 - 2.618 |
| 'White Swan' | 0.5 - 0.886 | 2.0 - 4.237 | 0.382 - 0.786 | 0.238 - 0.886 |
| 'NN White Swan' | 0.5 - 0.886 | 2.0 - 4.236 | 0.382 - 0.724 | 0.382 - 0.886 |
| 'Sea Pony' | 1.618 - 2.618 | 0.382 - 0.5 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Navarro 200' | 0.886 - 3.618 | 0.886 - 1.128 | 0.382 - 0.786 | 0.886 - 1.128 |
| 'May-00' | 0.5 - 0.618 | 1.618 - 2.236 | 1.128 - 1.618 | 0.5 - 0.618 |
| 'SNORM' | 0.9 - 1.1 | 0.9 - 1.1 | 0.9 - 1.1 | 0.618 - 1.618 |
| 'COL Poruchik' | 1.0 *min - 1.0 *max | 0.382 - 2.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Henry – David' | 0.618 - 0.886 | 0.44 - 0.618 | 0.128 - 2.0 | 0.618 - 1.618 |
| 'DAVID VM 1' | 1.618 - 1.618 | 0.382*min - 0.382*max | 0.128 - 1.618 | 0.618 - 3.618 |
| 'DAVID VM 2' | 1.618 - 1.618 | 0.382*min - 0.382*max | 1.618 - 3.618 | 0.618 - 7.618 |
| 'Partizan' | 1.618*min - 1.618*max | 0.382*min - 0.382*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.128 - 3.618 | 1.618 - 3.618 |
| 'Partizan 2.1' | 1.618*min - 1.618*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.2' | 2.236*min - 2.236*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.3' | 1.618*min - 1.618*max | 0.618 - 1.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.4' | 2.236*min - 2.236*max | 1.618*min - 1.618*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'TOTAL' | 1.272 - 3.618 | 0.382 - 2.618 | 0.276 - 0.786 | 0.618 - 1.618 |
| 'TOTAL NN' | 1.272 - 4.236 | 0.382 - 2.618 | 0.236 - 0.786 | 0.618 - 1.618 |
| 'TOTAL 1' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.786 | 0.786 - 0.886 |
| 'TOTAL 2' | 1.618 - 3.618 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTNN 2NN' | 1.618 - 4.236 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTAL 3' | 1.272 - 2.618 | 1.128 - 2.618 | 0.276 - 0.618 | 0.618 - 0.886 |
| 'TOTNN 3NN' | 1.272 - 2.618 | 1.128 - 2.618 | 0.236 - 0.618 | 0.618 - 0.886 |
| 'TOTAL 4' | 1.618 - 2.618 | 1.128 - 2.618 | 0.382 - 0.786 | 1.128 - 1.272 |
| 'BG 1' | 2.618*min - 2.618*max | 0.382*min - 0.382*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 2' | 2.237*min - 2.237*max | 0.447*min - 0.447*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 3' | 2.0 *min - 2.0 *max | 0.5 *min - 0.5 *max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 4' | 1.618*min - 1.618*max | 0.618*min - 0.618*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 5' | 1.414*min - 1.414*max | 0.707*min - 0.707*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 6' | 1.272*min - 1.272*max | 0.786*min - 0.786*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 7' | 1.171*min - 1.171*max | 0.854*min - 0.854*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 8' | 1.128*min - 1.128*max | 0.886*min - 0.886*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
🔶 SETTINGS
🔹 Swings
Minimum Swing Length: Minimum length used for the swing detection.
Maximum Swing Length: Maximum length used for the swing detection.
🔹 Patterns
Toggle Pattern Block
Toggle separate pattern in each Pattern Block
🔹 Tolerance
Fibonacci Ratio: Adds a percentage tolerance below/above the ratio when only one ratio applies, creating two limits.
Triangle Area Ratio: Filters patterns based on the ratio of the smallest triangle to the largest triangle.
🔹 Display
Labels: Display Pattern Names, Arrows or nothing
Patterns: Display or not
Last Line: Display previous C-D line when updated
🔹 Style
Colors: Pattern Lines/Names/Arrows - background color of patterns
Text Size: Text Size of Pattern Names/Arrows
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement
Donchian Channels[SpeedBot]Donchian Channels
The Donchian Channels indicator is a visually enhanced version of the traditional Donchian Channels, designed to provide clear insights into market volatility and price trends.
This indicator plots three key lines:
Upper Band: The highest high over the selected length.
Lower Band: The lowest low over the selected length.
Basis Line: The average of the Upper and Lower bands.
Features
Visual Enhancements
Green Fill (Above Basis): Highlights the area between the Basis and the Upper Band, indicating upward momentum.
Red Fill (Below Basis): Highlights the area between the Basis and the Lower Band, indicating downward momentum.
User Configurable Inputs
Length: Defines the lookback period for calculating the Upper and Lower bands.
Offset: Shifts the bands forward or backward on the chart.
Alerts
Receive real-time notifications when the price crosses key levels:
Price Above Upper Band: Indicates bullish breakout potential.
Price Below Lower Band: Indicates bearish breakdown potential.
How to Use
Use the Upper Band as a resistance level and the Lower Band as a support level.
The Basis Line helps track the midpoint of the current trading range.
The colored fills provide a quick visual guide to market sentiment.
This indicator is perfect for traders looking to identify breakouts, reversals, or trend-following opportunities.
Daily High/Low Levels with mitigationThis Pine Script script defines a TradingView indicator named "Daily High/Low Levels" designed to track and display the daily high and low levels of a trading session, with added functionality for marking levels as mitigated when certain conditions are met. Here's a breakdown of its functionality:
Key Features
Session Start Time: The script allows you to specify a custom session start time in 24-hour format. This ensures the levels align with your trading session preferences.
Daily Highs and Lows:
Tracks the high and low levels for each session.
Retains the highs and lows for a configurable number of previous days.
Visualization:
Creates horizontal lines for each session's high and low levels.
Supports customization of line colors and styles.
Mitigation Tracking:
Monitors whether a high or low level has been "mitigated" (touched or exceeded by subsequent price action).
Changes the line style and color to indicate mitigation.
Provides an alert when mitigation occurs.
Configurable Extensions:
Lines can be extended beyond mitigation or stopped at the bar index where mitigation occurs, depending on user preference.
Efficient Array Management:
Uses arrays to manage daily highs, lows, their respective indices, and lines.
Ensures the size of stored data does not exceed the configured limit (daysToTrack).
Alerts:
Sends alerts when high or low levels are mitigated, which can be used for trading decisions.
Inputs
Session Start Hour/Minute: Defines when a new session starts.
Days to Track: Sets the number of previous days to display high/low levels.
Colors: Allows customization of line colors for unmitigated and mitigated levels.
Extend Lines: Toggles whether lines should extend past the mitigation point.
Code Highlights
New Session Detection: The script detects the start of a new session based on the configured session start time and resets daily highs/lows.
Line Management: Horizontal rays are created for highs and lows, and mitigated lines are updated with a dashed style and faded color.
Mitigation Logic: The script checks whether current price action exceeds stored high or low levels and updates their status and appearance accordingly.
Memory Management: Ensures the size of the arrays (highs, lows, lines) does not exceed the configured daysToTrack, deleting the oldest elements as necessary.
This indicator is highly customizable and useful for traders who want to track and analyze daily support and resistance levels, incorporating mitigation as a dynamic feature.
Cloud Same H/L Price简单的小指标，识别相邻的两根K线最高价或者最低价是否相同。
A simple small indicator to identify whether the highest or lowest prices of two adjacent K-lines are the same.
Pivot of Pivot Reversal Strategy [MAD]The Enhanced PoP Reversal Strategy is a trend-reversal trading system that uses pivot points combined with ATR (Average True Range) for volatility-based position sizing and risk management. The strategy identifies potential reversal points in the market by analyzing significant pivot highs and lows.
Key Components
1. Pivot Points (PP)
Pivot Points are significant price levels where the market has shown reversal tendencies. In this strategy, we use a "pivot of pivot" approach, which means:
- First-level pivots: Basic high/low points
- Second-level pivots: Significant turning points among the first-level pivots
Example Scenarios:
Bullish Reversal Pattern:
Price: 100 → 95 → 98 → 93 → 97 → 91 → 96
First Pivot Low: 91 (lowest point)
Second Pivot Low: 93 (higher low)
Signal: If price breaks above 97, potential long entry
Bearish Reversal Pattern:
Price: 100 → 105 → 102 → 107 → 103 → 109 → 104
First Pivot High: 109 (highest point)
Second Pivot High: 107 (lower high)
Signal: If price breaks below 102, potential short entry
2. ATR (Average True Range)
ATR measures market volatility by calculating the average range between high and low prices. It helps in:
- Position sizing
- Stop-loss placement
- Take-profit targets
Example ATR Applications:
Stock A (Low Volatility):
Price: $100
ATR: $1
Stop Loss: 1-2 × ATR = $1-2 away from entry
Take Profit: 3-4 × ATR = $3-4 from entry
Crypto (High Volatility):
Price: $30,000
ATR: $1,500
Stop Loss: 1-1.5 × ATR = $1,500-2,250 away from entry
Take Profit: 2-3 × ATR = $3,000-4,500 from entry
Market-Specific Settings
1. Stock Market Examples
Large-Cap Stocks (Low Volatility)
Timeframe: Daily
Settings:
- PP Left Bars: 6
- PP Right Bars: 4
- ATR Length: 18
- ATR Mult: 0.08
- Position Size: 0.8%
- Leverage: 3.5x
Example: Trading Apple (AAPL)
- Average daily range: $3-4
- Strategy would look for reversals spanning 3-4 days
- Stop loss typically $2-3 away from entry
Small-Cap Stocks (High Volatility)
Timeframe: 4H
Settings:
- PP Left Bars: 4
- PP Right Bars: 3
- ATR Length: 12
- ATR Mult: 0.18
- Position Size: 0.4%
- Leverage: 2x
Example: Trading a biotech stock
- Average daily range: 8-10%
- Strategy focuses on intraday reversals
- Wider stops due to higher volatility
2. Crypto Market Examples
Bitcoin (Medium-High Volatility)
Timeframe: 4H
Settings:
- PP Left Bars: 4
- PP Right Bars: 3
- ATR Length: 12
- ATR Mult: 0.15
- Position Size: 0.5%
- Leverage: 2x
Example scenario:
- BTC trading at $40,000
- ATR of $1,200
- Stop loss around $1,800 (1.5 × ATR)
- Take profit at $3,600 (3 × ATR)
Altcoins (High Volatility)
Timeframe: 1H
Settings:
- PP Left Bars: 3
- PP Right Bars: 2
- ATR Length: 10
- ATR Mult: 0.2
- Position Size: 0.3%
- Leverage: 1.5x
Example scenario:
- Alt trading at $100
- ATR of $8
- Stop loss around $12 (1.5 × ATR)
- Take profit at $24 (3 × ATR)
3. Forex Market Examples
Major Pairs (Medium Volatility)
Timeframe: 4H
Settings:
- PP Left Bars: 5
- PP Right Bars: 3
- ATR Length: 14
- ATR Mult: 0.12
- Position Size: 0.6%
- Leverage: 3x
Example: EUR/USD
- Average daily range: 50-70 pips
- Strategy looks for reversals over 1-2 days
- Stop loss typically 30-40 pips
How to Use the Strategy
1. Entry Criteria
- Wait for formation of second-level pivot point
- Confirm trend reversal with price action
- Check ATR for volatility confirmation
2. Position Management
- Use the suggested position size based on account equity
- Apply the recommended leverage
- Set stop loss and take profit based on ATR
3. Optimization Tips
- For ranging markets: Increase PP bars for better filtering
- For trending markets: Decrease PP bars for quicker signals
- High volatility periods: Reduce position size and leverage
- Low volatility periods: Can increase position size and leverage
Risk Management Rules
1. Position Sizing
- Never exceed the recommended position size
- Reduce size during major news events
- Scale out of positions at key profit levels
2. Stop Loss Management
- Always use stop losses based on ATR
- Don't move stops to break even too early
- Consider trailing stops in strong trends
3. Market Conditions
- Avoid trading during major news events
- Reduce exposure during uncertain market conditions
- Monitor correlation between different positions
Top-Down Trend and Key Levels with Swing Points//by antaryaami0
Overview
The “Top-Down Trend and Key Levels with Swing Points” indicator is a comprehensive tool designed to enhance your technical analysis by integrating multiple trading concepts into a single, easy-to-use script. It combines higher timeframe trend analysis, key price levels, swing point detection, and ranging market identification to provide a holistic view of market conditions. This indicator is particularly useful for traders who employ multi-timeframe analysis, support and resistance levels, and price action strategies.
Key Features
1. Higher Timeframe Trend Background Shading:
• Purpose: Identifies the prevailing trend on a higher timeframe to align lower timeframe trading decisions with the broader market direction.
• How it Works: The indicator compares the current higher timeframe close with the previous one to determine if the trend is up, down, or ranging.
• Customization:
• Trend Timeframe: Set your preferred higher timeframe (e.g., Daily, Weekly).
• Up Trend Color & Down Trend Color: Customize the background colors for uptrends and downtrends.
• Ranging Market Color: A separate color to indicate when the market is moving sideways.
2. Key Price Levels:
• Previous Day High (PDH) and Low (PDL):
• Purpose: Identifies key support and resistance levels from the previous trading day.
• Visualization: Plots horizontal lines at PDH and PDL with labels.
• Customization: Option to show or hide these levels and customize their colors.
• Pre-Market High (PMH) and Low (PML):
• Purpose: Highlights the price range during the pre-market session, which can indicate potential breakout levels.
• Visualization: Plots horizontal lines at PMH and PML with labels.
• Customization: Option to show or hide these levels and customize their colors.
3. First 5-Minute Marker (F5H/F5L):
• Purpose: Marks the high or low of the first 5 minutes after the market opens, which is significant for intraday momentum.
• How it Works:
• If the first 5-minute high is above the Pre-Market High (PMH), an “F5H” label is placed at the first 5-minute high.
• If the first 5-minute high is below the PMH, an “F5L” label is placed at the first 5-minute low.
• Visualization: Labels are placed at the 9:35 AM candle (closing of the first 5 minutes), colored in purple by default.
• Customization: Option to show or hide the marker and adjust the marker color.
4. Swing Points Detection:
• Purpose: Identifies significant pivot points in price action to help recognize trends and reversals.
• How it Works: Uses left and right bars to detect pivot highs and lows, then determines if they are Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), or Lower Lows (LL).
• Visualization: Plots small markers (circles) with labels (HH, LH, HL, LL) at the corresponding swing points.
• Customization: Adjust the number of left and right bars for pivot detection and the size of the markers.
5. Ranging Market Detection:
• Purpose: Identifies periods when the market is consolidating (moving sideways) within a defined price range.
• How it Works: Calculates the highest high and lowest low over a specified period and determines if the price range is within a set percentage threshold.
• Visualization: Draws a gray box around the price action during the ranging period and labels the high and low prices at the end of the range.
• Customization: Adjust the range detection period and threshold, as well as the box color.
6. Trend Coloring on Chart:
• Purpose: Provides a visual cue for the short-term trend based on a moving average.
• How it Works: Colors the candles green if the price is above the moving average and red if below.
• Customization: Set the moving average length and customize the uptrend and downtrend colors.
How to Use the Indicator
1. Adding the Indicator to Your Chart:
• Copy the Pine Script code provided and paste it into the Pine Script Editor on TradingView.
• Click “Add to Chart” to apply the indicator.
2. Configuring Inputs and Settings:
• Access Inputs:
• Click on the gear icon next to the indicator’s name on your chart to open the settings.
• Customize Key Levels:
• Show Pre-Market High/Low: Toggle on/off.
• Show Previous Day High/Low: Toggle on/off.
• Show First 5-Minute Marker: Toggle on/off.
• Set Trend Parameters:
• Trend Timeframe for Background: Choose the higher timeframe for trend analysis.
• Moving Average Length for Bar Color: Set the period for the moving average used in bar coloring.
• Adjust Ranging Market Detection:
• Range Detection Period: Specify the number of bars to consider for range detection.
• Range Threshold (%): Set the maximum percentage range for the market to be considered ranging.
• Customize Visuals:
• Colors: Adjust colors for trends, levels, markers, and ranging market boxes.
• Label Font Size: Choose the size of labels displayed on the chart.
• Level Line Width: Set the thickness of the lines for key levels.
3. Interpreting the Indicator:
• Background Shading:
• Green Shade: Higher timeframe is in an uptrend.
• Red Shade: Higher timeframe is in a downtrend.
• Gray Box: Market is ranging (sideways movement).
• Key Levels and Markers:
• PDH and PDL Lines: Represent resistance and support from the previous day.
• PMH and PML Lines: Indicate potential breakout levels based on pre-market activity.
• F5H/F5L Labels: Early indication of intraday momentum after market open.
• Swing Point Markers:
• HH (Higher High): Suggests bullish momentum.
• LH (Lower High): May indicate a potential bearish reversal.
• HL (Higher Low): Supports bullish continuation.
• LL (Lower Low): Indicates bearish momentum.
• Ranging Market Box:
• Gray Box Around Price Action: Highlights consolidation periods where breakouts may occur.
• Range High and Low Labels: Provide the upper and lower bounds of the consolidation zone.
4. Applying the Indicator to Your Trading Strategy:
• Trend Alignment:
• Use the higher timeframe trend shading to align your trades with the broader market direction.
• Key Levels Trading:
• Watch for price reactions at PDH, PDL, PMH, and PML for potential entry and exit points.
• Swing Points Analysis:
• Identify trend continuations or reversals by observing the sequence of HH, HL, LH, and LL.
• Ranging Market Strategies:
• During ranging periods, consider range-bound trading strategies or prepare for breakout trades when the price exits the range.
• Intraday Momentum:
• Use the F5H/F5L marker to gauge early market sentiment and potential intraday trends.
Practical Tips
• Adjust Settings to Your Trading Style:
• Tailor the indicator’s inputs to match your preferred timeframes and trading instruments.
• Combine with Other Indicators:
• Use in conjunction with volume indicators, oscillators, or other technical tools for additional confirmation.
• Backtesting:
• Apply the indicator to historical data to observe how it performs and refine your settings accordingly.
• Stay Updated on Market Conditions:
• Be aware of news events or economic releases that may impact market behavior and the effectiveness of technical levels.
Customization Options
• Time Zone Adjustment:
• The script uses “America/New_York” time zone by default. Adjust the timezone variable in the script if your chart operates in a different time zone.
var timezone = "Your/Timezone"
• Session Times:
• Modify the Regular Trading Session and Pre-Market Session times in the indicator settings to align with the trading hours of different markets or exchanges.
• Visual Preferences:
• Colors: Personalize the indicator’s colors to suit your visual preferences or to enhance visibility.
• Label Sizes: Adjust label sizes if you find them too intrusive or not prominent enough.
• Marker Sizes: Further reduce or enlarge the swing point markers by modifying the swing_marker_size variable.
Understanding the Indicator’s Logic
1. Higher Timeframe Trend Analysis:
• The indicator retrieves the closing prices of a higher timeframe using the request.security() function.
• It compares the current higher timeframe close with the previous one to determine the trend direction.
2. Key Level Calculation:
• Previous Day High/Low: Calculated by tracking the highest and lowest prices of the previous trading day.
• Pre-Market High/Low: Calculated by monitoring price action during the pre-market session.
3. First 5-Minute Marker Logic:
• At 9:35 AM (end of the first 5 minutes after market open), the indicator evaluates whether the first 5-minute high is above or below the PMH.
• It then places the appropriate label (F5H or F5L) on the chart.
4. Swing Points Detection:
• The script uses ta.pivothigh() and ta.pivotlow() functions to detect pivot points.
• It then determines the type of swing point based on comparisons with previous swings.
5. Ranging Market Detection:
• The indicator looks back over a specified number of bars to find the highest high and lowest low.
• It calculates the percentage difference between these two points.
• If the difference is below the set threshold, the market is considered to be ranging, and a box is drawn around the price action.
Limitations and Considerations
• Indicator Limitations:
• Maximum Boxes and Labels: Due to Pine Script limitations, there is a maximum number of boxes and labels that can be displayed simultaneously.
• Performance Impact: Adding multiple visual elements (boxes, labels, markers) can affect the performance of the script on lower-end devices or with large amounts of data.
• Market Conditions:
• False Signals: Like any technical tool, the indicator may produce false signals, especially during volatile or erratic market conditions.
• Not a Standalone Solution: This indicator should be used as part of a comprehensive trading strategy, including risk management and other forms of analysis.
Conclusion
The “Top-Down Trend and Key Levels with Swing Points” indicator is a versatile tool that integrates essential aspects of technical analysis into one script. By providing insights into higher timeframe trends, highlighting key price levels, detecting swing points, and identifying ranging markets, it equips traders with valuable information to make more informed trading decisions. Whether you are a day trader looking for intraday opportunities or a swing trader aiming to align with the broader trend, this indicator can enhance your chart analysis and trading strategy.
Disclaimer
Trading involves significant risk, and it’s important to understand that past performance is not indicative of future results. This indicator is a tool to assist in analysis and should not be solely relied upon for making trading decisions. Always conduct thorough research and consider seeking advice from financial professionals before engaging in trading activities.
