Market Sessions (Use On Low TF)The Market Sessions Indicator is designed to highlight the active trading sessions of London, New York, and Hong Kong directly on your TradingView chart. Instead of cluttering the entire chart, this version ensures that session markers are only plotted on the latest candle, keeping your workspace clean and focused.
Analisi candlestick
EMA Study Script for Price Action TradersThis indicator creates an Exponential Moving Average (EMA) with customizable bands around it.
The bands can be based on three different calculation methods:
1. Full Average Bar Range (high-low)
2. Body Average Bar Range (open-close)
3. Standard Deviation of the EMA
Users can display up to three bands above and below the EMA, with options to customize the colors, transparency, and whether to fill the area between bands. The indicator serves both as a research tool for studying price action around EMAs and as a potential trading tool for identifying volatility zones.
Key features:
- Configurable EMA period and color
- Three different band calculation methods
- Up to 3 standard deviations of band display
- Optional band filling with customizable color and transparency
- Overlay display for easy price action analysis
Candle Emotion Index (CEI)The Candle Emotion Index (CEI) is a comprehensive sentiment analysis indicator that combines three sub-oscillators—Indecision Oscillator, Fear Oscillator, and Greed Oscillator—to provide a single, unified measure of market sentiment. By analyzing bullish, bearish, and indecisive candlestick patterns, the CEI delivers a holistic view of market emotions and helps traders identify key turning points.
How It Works
Indecision Oscillator: Measures market uncertainty using Doji and Spinning Top candlestick patterns. Scores their presence and normalizes the results over a user-defined lookback period.
Fear Oscillator: Measures bearish sentiment using Shooting Star, Hanging Man, and Bearish Engulfing candlestick patterns. Scores their presence and normalizes the results over a user-defined lookback period.
Greed Oscillator: Measures bullish sentiment using Marubozu, Bullish Engulfing, Hammer, and Three White Soldiers candlestick patterns. Scores their presence and normalizes the results over a user-defined lookback period.
Candle Emotion Index Calculation: The CEI is calculated as the average of the Indecision, Fear, and Greed Oscillators: CEI = (Indecision Oscillator + Fear Oscillator + Greed Oscillator) / 3
Plotting: The CEI is plotted as a single line on the chart, representing overall market sentiment.
Reference lines are added to indicate Low Emotion, Neutral, and High Emotion levels.
The Candle Emotion Index provides a unified perspective on market sentiment by blending indecision, fear, and greed into one easy-to-interpret metric. It serves as a powerful tool for traders seeking to gauge market psychology and identify high-probability trading opportunities. For best results, use the CEI in conjunction with other technical indicators to confirm signals.
5/15 Min High-Low Indicator with alertsSummary of the Indicator:
This 5/15 Min High-Low Indicator is designed to dynamically track and mark the key high and low levels from the first 5-minute and 15-minute timeframes of the trading session. Here's how it works:
Features:
Dynamic Level Tracking:
Tracks and updates the high and low for the first 5 minutes and 15 minutes of the session.
Visual Representation:
Plots the following on the chart:
5-Min High (Green Line)
5-Min Low (Red Line)
15-Min High (Blue Line)
15-Min Low (Orange Line)
Alerts:
Alerts when the price:
Breaks above the 5-Min High.
Breaks below the 5-Min Low.
Breaks above the 15-Min High.
Breaks below the 15-Min Low.
Alerts are triggered only once per bar close to avoid repetition.
Reset for New Day:
Automatically resets the high and low levels for 5 and 15 minutes at the start of each trading day.
Inputs:
Configurable session start time (default: 9:30 AM).
Customizable session lengths for the 5-minute and 15-minute ORB ranges.
Option to enable or disable alerts.
Dynamic Alerts:
Alerts notify when new highs or lows for the 5-minute or 15-minute ranges are set during the session.
Use Case:
Ideal for manual backtesting or live market trading.
Helps traders monitor breakouts and retests of significant intraday levels.
Can be activated as a daily tool for session-based trading strategies.
Momentum candle w/ AlertMomentum Candle Indicator with Alerts
The Momentum Candle Indicator is designed to assist traders in identifying candles that exhibit strong momentum based on customizable criteria. This indicator visually highlights momentum candles and provides alerting functionality to ensure timely notifications about significant price movements. It is flexible and suited for various trading styles, offering easy configuration.
Key Features:
Momentum Candle Detection: Identifies candles with a body size and wick characteristics indicative of momentum. The detection criteria are fully customizable to fit individual trading strategies.
Customizable Parameters:
- Minimum Body Size (Pips): The minimum size of the candle body, in pips, for it to be considered a momentum candle.
- Minimum Wick-to-Body Ratio (%): Specifies the minimum percentage of wick relative to the body size to qualify as momentum.
- Maximum Wick-to-Body Ratio (%): Sets the upper limit for the wick-to-body ratio to filter out candles with excessive wicks.
- Timeframe: Select the timeframe for momentum candle analysis (e.g., 15 minutes, 1 hour, etc.).
- Alert Trigger Option: Choose between alerts that trigger at candle close or in real-time when criteria are met. Real-time alerts are sent as soon as the criteria are met, but there is no guarantee that the candle will remain a valid momentum candle at its close.
- Show Detail: Enable or disable additional labels on the chart that display metrics for valid momentum candles.
- Enable Candle Debug: Activate debug mode to show detailed metrics for every candle, assisting in fine-tuning settings.
Visual Feedback: Highlights valid momentum candles on the chart for easy identification. Optional labels display metrics like body size, wick size, and ratios.
Alerts: Configurable alerts notify you whenever a momentum candle is detected, based on your defined criteria.
How to Use:
Add the Indicator to Your Chart: Add this script to your TradingView chart as an indicator.
Configure the Settings: Open the settings panel and adjust the parameters: Define the Minimum Body Size in pips. Set the Wick-to-Body Ratio thresholds. Choose the timeframe for analysis. Select the alert trigger option ( real-time or candle close ). Enable or disable labels and debug information.
Set Up Alerts: Open the TradingView alert panel. Select the condition for this script (e.g., " Momentum Candle Detected "). Customize the alert message and preferences. Click Create to activate the alert.
Analyze Results: Review highlighted momentum candles on the chart. Use optional debug labels for a detailed breakdown of candle metrics.
Why Use This Indicator?
Momentum candles often indicate significant market movements, providing valuable insights for trend-following or breakout strategies. This indicator automates the detection and alert process, helping traders focus on strategy execution while ensuring they don’t miss key opportunities.
With customizable parameters and real-time feedback, this tool is practical, adaptable, and designed to simplify momentum analysis.
Greed OscillatorThis Pine Script v6 component calculates and plots a "Greed Oscillator" based on the presence of bullish candlestick patterns (Marubozu, Bullish Engulfing, Hammer, and Three White Soldiers) over a user-defined lookback period.
How It Works:
User Inputs: length - The lookback period for calculating the oscillator, marubozuThreshold - The threshold for identifying Marubozu patterns, engulfingThreshold - The threshold for identifying Bullish Engulfing patterns, hammerThreshold - The threshold for identifying Hammer patterns, threeWhiteSoldiersThreshold - The threshold for identifying Three White Soldiers patterns.
Pattern Detection: The script defines functions to detect Marubozu, Bullish Engulfing, Hammer, and Three White Soldiers patterns. Patterns are identified based on the size of the body, wicks, and specific threshold criteria.
Score Calculation: The script calculates scores for each bullish pattern over the lookback period. These scores are normalized by dividing by the total number of candles in the period.
Greed Oscillator: The oscillator is calculated as the average of the normalized scores for the four bullish patterns.
Plotting: The Greed Oscillator is plotted on the chart, with reference lines for "Low Greed" and "High Greed" levels.
This indicator provides a visual representation of market greed, making it a useful tool for traders to assess bullish sentiment and identify potential reversal points or areas of heightened bullish activity. It works best in conjunction with other technical analysis tools to confirm signals.
Fear OscillatorThis Pine Script v6 component calculates and plots a "Fear Oscillator" based on the presence of bearish candlestick patterns (Shooting Star, Hanging Man, and Bearish Engulfing) over a user-defined lookback period.
How It Works:
User Inputs: length - The lookback period for calculating the oscillator, shootingStarThreshold - The threshold for identifying Shooting Star patterns, hangingManThreshold - The threshold for identifying Hanging Man patterns, engulfingThreshold - The threshold for identifying Bearish Engulfing patterns.
Pattern Detection: The script defines functions to detect Shooting Star, Hanging Man, and Bearish Engulfing patterns based on wick and body size ratios. Each pattern is checked for the given thresholds.
Score Calculation: The script calculates scores for each bearish pattern over the lookback period. These scores are normalized by dividing by the total number of candles in the period.
Fear Oscillator: The oscillator is calculated as the average of the normalized scores for the three patterns.
Plotting: The Fear Oscillator is plotted on the chart, with reference lines for "Low Fear" and "High Fear" levels.
This indicator is designed to provide a visual representation of market fear, making it a valuable tool for traders to assess bearish sentiment and identify potential reversal points or areas of heightened market risk. It is best used in conjunction with other technical analysis tools to confirm signals.
Indecision OscillatorThis Pine Script v6 component calculates and plots an "Indecision Oscillator" based on the presence of Doji and Spinning Top candlestick patterns over a user-defined lookback period.
Here's how it works:
User Inputs: length - the lookback period for calculating the oscillator, dojiThreshold - the threshold for identifying Doji patterns, spinningTopThreshold - the threshold for identifying Spinning Top patterns.
Pattern Detection: The script defines functions to detect Doji and Spinning Top patterns based on the body size relative to the total range of the candle.
Score Calculation: It calculates scores for Doji and Spinning Top patterns over the specified lookback period and normalizes these scores.
Indecision Oscillator: The oscillator is calculated as the average of the normalized Doji and Spinning Top scores.
Plotting: Only the Indecision Oscillator is plotted on the chart, with reference lines for neutral and indecision levels.
This component provides a visual representation of market indecision, which can be useful for traders looking to identify potential reversal points or periods of consolidation.
Candles Table in PercentShow table for different timeframes count in percent currant candle from previous. And oscillator for current timeframe.
Noah y AmaruDiscover the Strategy That Turns the Market into Your Ally
In the world of trading, few tools have the power to simplify complexity and turn it into winning opportunities. This indicator, crafted with passion and focus, is one of those rare gems. Its effectiveness has consistently proven to be a winner, delivering results that exceed expectations.
The magic behind this strategy lies in its ability to pinpoint the exact moments when the market is truly oversold. When everything seems uncertain, this tool acts as a reliable compass, highlighting the best opportunities to take action. It requires no technical knowledge or prior experience: simply follow the signals, and let the strategy do the rest.
With a philosophy rooted in dedication, love, and focus, this strategy serves as a reminder that the best results come when things are done with heart and mind aligned. It’s the perfect tool for anyone who wants to make money in the markets without getting tangled in advanced technical analysis.
Dare to try this strategy and experience how it simplifies trading while unlocking consistent and profitable results.
Hugo G. Vassalas.
HTF CandlestickHTF Candlestick
This indicator that visualizes a specific candle from a user-defined timeframe (1D, 1H, etc.) and its associated properties on the chart. Below is a detailed explanation:
1 - Inputs and Initialization:
timeframeInput: Allows the user to select the desired timeframe (e.g., daily).
pos: Adjusts the horizontal position of the drawn candle on the chart.
2 - Custom Data Type (type bar):
The bar type stores data for the open, high, low, and close (OHLC) values, as well as the start time of the candle.
It also includes graphical elements like body, wick, and start lines.
3 - Logic:
A variable b is initialized to represent the custom candle.
The script checks for changes in the selected timeframe and creates a new bar when the timeframe changes.
4 - Methods:
update(): Updates the OHLC values of the bar if a new high or low occurs.
display(): Draws the candle on the chart, including:
The candle body.
The wick (shadow).
Labels showing the open, high, and low values.
Horizontal and vertical dotted lines for visual aid.
5 - Candle Redrawing:
The script clears all graphical elements (lines, labels, boxes) for the current candle on the last bar of the chart (barstate.islast) and redraws them using the display() method.
6 - Table Display:
A small table is displayed at the right-hand side of the chart showing:
The selected timeframe.
The opening value of the candle.
The difference between the close and open prices, highlighted with the appropriate color.
Kod Açıklaması
Bu Pine Script, kullanıcı tarafından seçilen bir zaman dilimine (1D, 1H vb.) ait bir mum çubuğunu ve onun özelliklerini grafik üzerinde görselleştiren özel bir indikatördür. İşte detaylı açıklaması:
1- Girdiler ve Başlangıç:
timeframeInput: Kullanıcının istediği zaman dilimini seçmesine olanak tanır (ör. günlük).
pos: Çizilen mumun grafikte yatay pozisyonunu ayarlamak için kullanılır.
2 - Özel Veri Tipi (type bar):
bar türü, açılış, yüksek, düşük ve kapanış (OHLC) değerlerini ve mumun başlangıç zamanını saklar.
Ayrıca, grafik öğeleri için body, wick ve start gibi alanlar içerir.
3- Mantık:
b değişkeni, seçilen mum çubuğunu temsil etmek için tanımlanmıştır.
Seçilen zaman diliminde bir değişiklik olup olmadığını kontrol eder ve değişiklik olduğunda yeni bir bar oluşturur.
4 - Metotlar:
update(): Daha yüksek bir zirve veya daha düşük bir dip meydana gelirse, mumun OHLC değerlerini günceller.
display(): Grafik üzerinde mum çubuğunu çizer. Bu işlem şunları içerir:
Mum gövdesi.
Fitil (gölge).
Açılış, yüksek ve düşük değerlerini gösteren etiketler.
Görsel yardım için yatay ve dikey kesik çizgiler.
5- Mum Yeniden Çizimi:
Grafik üzerindeki tüm grafiksel elemanları (çizgiler, etiketler, kutular) temizler ve mevcut mumun son çubuğunda (barstate.islast) bunları yeniden çizer.
6 - Tablo Görüntüsü:
Grafik üzerinde sağ tarafta küçük bir tablo gösterilir. Bu tabloda:
Seçilen zaman dilimi.
Mumun açılış değeri.
Kapanış ve açılış fiyatları arasındaki fark, uygun renkte vurgulanarak gösterilir.
Bu kod, kullanıcıya belirli bir zaman dilimindeki mum çubuğunun görsel bir analizini ve temel bilgilerini sağlar.
Vela Personalizada con Proyección de Zonas de RompimientoEste innovador script de Pine Script versión 5 está diseñado para proporcionar una representación visual detallada de la última vela de un intervalo de tiempo seleccionado por el usuario. Al superponer en el gráfico principal, el indicador ofrece las siguientes características destacadas:
Visualización Personalizada de la Vela: Dibuja la última vela del intervalo especificado, incluyendo su cuerpo y sombras, con colores distintivos que indican si la vela es alcista o bajista.
Líneas de Máximo, Mínimo y Nivel Medio: Añade líneas punteadas que destacan los puntos de máximo y mínimo de la vela, así como una línea intermedia que representa el nivel medio de la vela, proporcionando una referencia visual clara de los niveles clave de precios.
Etiquetas Informativas: Incorpora etiquetas que muestran los valores exactos de los niveles de máximo, mínimo y medio, facilitando una comprensión rápida y precisa de los datos de la vela.
Temporizador de Intervalo: Muestra un temporizador que indica el tiempo restante hasta la finalización del intervalo actual, ayudando a los traders a gestionar mejor su tiempo y decisiones de trading.
Proyección de Zonas de Rompimiento: Extiende líneas desde los niveles de máximo y mínimo de la vela actual para proyectar posibles zonas de rompimiento, ofreciendo una herramienta visual para anticipar movimientos futuros del precio.
Candle Range HighlighterThis indicator highlights candles with a range exceeding a user-defined threshold such as 50c. When a large-range candle is detected, it visually highlights the following 10 candles to help identify potential areas of significance or volatility. Customizable threshold input allows fine-tuning for different trading styles or instruments. Designed for overlay on price charts.
XAU-USD - OANDA - Jan 25Strategy Overview
Name: "XAU-USD - OANDA - Updated Jan 2025 - by PB ver 5"
Purpose: A Renko-based trading strategy for XAU-USD, with support for date/session filters, dynamic trailing stops, and webhook integration for external trade execution.
Key Features
Backtesting Date Filter
useDateFilter: Enables/disables filtering based on a backtesting date range.
backtestStartDate & backtestEndDate: Define the date range for the backtest.
Trades are only executed if the current time (time) falls within this range (inTradeWindow).
Session and Days Filtering
Uses a specified session (SessionInput) and day configuration (daysInput) to determine active trading hours.
inSession: Determines if the current time falls within the specified session.
A background color (bgcolor) is applied during active sessions for visual clarity.
Renko Chart Integration
Constructs Renko charts using the traditional method:
renko_tickerid: Creates a Renko series based on the ticker.
renko_open & renko_close: Tracks Renko open and close levels.
Signals are generated using crossovers:
Long Entry: Renko close crosses above Renko open.
Short Entry: Renko close crosses below Renko open.
Trade Management
Long/Short Toggle: Trades can be enabled/disabled using checkboxes (enableLong & enableShort).
Trailing Stops: Automatically adjusts stop-loss levels for active trades:
Longs: Trails below the average position price by a fixed offset.
Shorts: Trails above the average position price by the same offset.
Trades are closed when the price exits the defined session or reverses signal:
E.g., A long position is closed if a short signal is generated and vice versa.
Webhooks for Integration
Includes parameters (code, buyID, sellID) to integrate with external trading platforms (e.g., Dhan) for automated execution via webhooks.
Visualization
Plots Renko open and close levels (plot).
Plots trailing stop levels for both long and short positions for transparency.
Conditions for Trade Execution
General Requirements:
The current time must fall within the session (inSession).
The current date must match the backtesting filter (inTradeWindow).
Entry Signals:
Long Entry: Renko close crosses above Renko open.
Short Entry: Renko close crosses below Renko open.
Exit Conditions:
Trailing stops (trail_offset) trigger exits.
Opposite trade signals cause the current trade to close before entering the new position.
All trades are forcefully closed when out of the active session.
Plotted Components
Renko Close (Red) and Open (Green): Visualize Renko levels on the chart.
Trailing Stops:
Blue line: Trailing stop for long positions.
Yellow line: Trailing stop for short positions.
Customizable Parameters
Input Settings:
Date range (backtestStartDate, backtestEndDate).
Session and days (SessionInput, daysInput).
Renko brick size (Bsize).
Trailing stop value (trail).
Toggleable Features:
Enable/disable long (enableLong) and short (enableShort) trades.
Advantages
Combines Renko simplicity with session-specific trading.
Offers flexibility in trade filtering and execution.
Trailing stops enhance risk management.
CHAKRA RISS ENGULFING CANDLESTICK STRATEGYChakra RISS Engulfing Candlestick Strategy
Type: Technical Indicator & Strategy
Platform: TradingView
Script Version: Pine Script v6
Overview:
The Chakra RISS Engulfing Candlestick Strategy combines a momentum-based approach using the Relative Strength Index (RSI) with Engulfing Candlestick Patterns to generate buy and sell signals. The strategy filters trades based on price movement relative to a 50-period Simple Moving Average (SMA), making it a trend-following strategy.
The indicator uses color-coded bars to visually represent market conditions, helping traders easily identify bullish and bearish trends. The strategy is designed to be dynamic, adapting to changing market conditions and filtering out noise using key technical indicators.
How It Works:
RSI-Based Color Conditions:
Green Bars: When the RSI crosses above a specified UpLevel (default: 50), indicating a bullish momentum and signaling potential buy conditions.
Red Bars: When the RSI crosses below a specified DownLevel (default: 50), indicating a bearish momentum and signaling potential sell conditions.
Buy Signal:
Triggered when the following conditions are met:
RSI crosses from below the UpLevel (default: 50) to above it, signaling increasing bullish momentum.
The close price is above the 50-period Simple Moving Average (SMA), confirming an uptrend.
The Buy Signal is plotted below the bar with a green arrow and a "BUY" label.
Sell Signal:
Triggered when the following conditions are met:
RSI crosses from above the DownLevel (default: 50) to below it, signaling increasing bearish momentum.
The close price is below the 50-period Simple Moving Average (SMA), confirming a downtrend.
The Sell Signal is plotted above the bar with a red arrow and a "SELL" label.
Stop Loss and Take Profit:
For long trades (buy signals), the stop loss is placed below the previous bar's low, and the take profit is set at 3% above the entry price.
For short trades (sell signals), the stop loss is placed above the previous bar's high, and the take profit is set at 3% below the entry price.
Dynamic Bar Coloring:
The bar colors change dynamically based on RSI levels:
Green Bars: Indicating a potential uptrend (bullish).
Red Bars: Indicating a potential downtrend (bearish).
These visual cues help traders quickly identify market trends and potential reversals.
Trend Filtering:
The 50-period Simple Moving Average (SMA) is used to filter trades based on the overall market trend:
Buy signals are only considered when the price is above the moving average, indicating an uptrend.
Sell signals are only considered when the price is below the moving average, indicating a downtrend.
Alerting System:
Alerts can be set for both buy and sell signals. These alerts notify traders in real-time when potential trades are generated, allowing them to act promptly.
Alerts can be configured to send notifications through email, SMS, or a webhook for integration with other services like IFTTT or Zapier.
Key Features:
RSI and Moving Average-Based Signals: Combines RSI with a moving average for more accurate trade signals.
Stop Loss and Take Profit: Dynamic risk management with custom stop loss and take profit levels based on previous high and low prices.
Buy and Sell Alerts: Provides real-time alerts when a buy or sell signal is triggered.
Trend Confirmation: Uses the 50-period Simple Moving Average to filter signals and confirm the direction of the trend.
Visual Bar Color Changes: Makes it easy to identify bullish or bearish trends with color-coded bars.
Usage:
This strategy is suitable for traders who prefer a trend-following approach and want to combine momentum indicators (RSI) with price action (Engulfing Candlestick patterns). It is particularly useful in volatile markets where quick identification of trend changes can lead to profitable trades.
Best Used For: Day trading, swing trading, and trend-following strategies.
Timeframes: Works well on various timeframes, from 1-minute charts for scalping to daily charts for swing trading.
Markets: Can be applied to any market with sufficient liquidity (stocks, forex, crypto, etc.).
Settings:
UpLevel: The RSI level above which the market is considered bullish (default: 50).
DownLevel: The RSI level below which the market is considered bearish (default: 50).
SMA Length: The period of the Simple Moving Average used to filter trades (default: 50).
Risk Management: Customizable stop loss and take profit settings based on price action (default: 3% above/below the entry price).
Dynamic Time Zone EMA with Candle Trend AnalysisCandleTrend TZ is a powerful analytical tool that integrates time zones, exponential moving averages (EMA), and custom candle coloring based on trend direction. This indicator is ideal for traders looking to analyze market trends within specific time sessions effectively.
Key Features:
Time Zones:
Divides the chart into four distinct time intervals, each highlighted with a unique background color.
Fully customizable start and end times for each interval, allowing for adaptation to various trading schedules.
Exponential Moving Averages (EMA):
Displays three EMAs with user-defined lengths:
EMA 200 (blue) for long-term trends.
EMA 50 (green) for medium-term trends.
EMA 20 (red) for short-term trends.
Helps identify trend direction and strength.
Custom Candle Coloring:
Utilizes smoothed Heiken Ashi and Triple EMA (TEMA) calculations for enhanced candle coloring:
Green candles indicate an upward trend.
Red candles signal a downward trend.
Filters out market noise, providing a clear visual representation of market dynamics.
Customization Options:
Time Zones:
Adjustable start and end times for each of the four sessions:
Input hour and minute for start and end times (e.g., Interval 1 Start/End Hour/Minute).
Background colors are pre-defined but can be modified in the code.
EMAs:
User-defined lengths for each EMA:
EMA 200 Length (default: 200)
EMA 50 Length (default: 50)
EMA 20 Length (default: 20)
TEMA Settings:
Parameters for trend smoothing:
TEMA Length (default: 55)
EMA Length (default: 60)
Use Cases:
Intraday Session Analysis:
Use time zones to differentiate between morning, afternoon, and evening market activity.
The background colors make it easy to track session-specific trends.
Trend Trading:
Analyze EMA crossings and their slopes to confirm market direction.
Green candles indicate buying opportunities, while red candles highlight selling signals.
Noise Reduction:
TEMA smoothing removes market noise, allowing you to focus on the primary market trend.
Adaptation to Custom Strategies:
By adjusting time intervals, you can tailor the indicator to specific trading styles or market conditions.
Benefits:
Versatility for both trending and sideways markets.
Intuitive and user-friendly setup.
Suitable for traders of all skill levels, from beginners to professionals.
CandleTrend TZ is an indispensable tool for understanding market dynamics, enhancing your trading precision, and making well-informed decisions. 🚀
RSI MACD Combined Color StrategyOverview
This indicator combines RSI and MACD signals to create a powerful visual trading system, inspired by TrendSpider's AI Strategy Coder examples. It colors candles based on the alignment of three key technical conditions, providing clear visual signals for potential trend strength and direction.
Technical Components
Core Conditions
RSI (Relative Strength Index) > 50
Indicates bullish momentum when price is trading above the centerline
Traditional indicator of trend strength
MACD Line > Signal Line
Shows positive momentum
Classic signal for potential upward movement
MACD Line > 0
Confirms bullish territory
Indicates overall positive momentum
Color Coding System
🟢 Green Candles: All three conditions are met
Strongest bullish signal
Suggests high probability trading opportunities
⚪ Grey Candles: One or two conditions are met
Neutral or transitioning market
Suggests caution or waiting for stronger confirmation
🔴 Red Candles: No conditions are met
Bearish signal
Suggests potential downward pressure
How to Use This Indicator
For Entry Signals
Look for transitions from red or grey to green candles
Green candles suggest strong bullish alignment
Consider entering long positions when candles turn green
For Exit Signals
Watch for color transitions from green to grey or red
Consider taking profits when candles change from green to grey
Consider stop losses when candles turn red
Risk Management
Use color transitions as part of your broader strategy
Don't rely solely on color changes for trading decisions
Combine with other technical analysis tools and risk management practices
Customizable Parameters
RSI Length (default: 14)
MACD Fast Length (default: 12)
MACD Slow Length (default: 26)
MACD Signal Length (default: 9)
Best Practices
Use multiple timeframes for confirmation
Look for confluences with support/resistance levels
Consider volume and market context
Start with default settings and adjust based on your trading style
Backtest different parameter combinations
Notes
This indicator works best in trending markets
Grey candles can indicate transition periods
Consider market conditions and volatility when interpreting signals
Credits
Inspired by TrendSpider's AI Strategy Coder examples and adapted for TradingView using Pine Script v5.
Disclaimer
This technical indicator is for informational purposes only. Always conduct your own analysis and consider risk management principles before making trading decisions. Past performance does not guarantee future results.
Yearly Open LevelsThe Yearly Open Levels indicator is designed to help traders visualize the opening price of each year on a price chart.
Key Features:
Yearly Open Display: Automatically calculates and displays the opening price for each year starting from a user-defined starting year. This helps traders quickly spot where the price opens each year.
Customizable Start Year: Users can set a specific year to begin displaying opening levels. The default starting year is 2022, but this can be adjusted based on individual trader needs.
Visual Lines and Labels: Each yearly open is represented by a horizontal line that extends to the right of the chart, making it easy to see the level throughout the year.
A label is placed next to the line, indicating the year and the opening price, enhancing clarity and reference while analyzing price movements.
Color Customization: Traders can choose the color of the lines and labels to fit their charting style or preferences, enhancing the visual representation on different market charts.
Inside Bar/Outside Bar/Mother Bar Box By SmartTrader888This Indicator shows:
1. Inside Bar
2. Outside Bar
3. Mother Bar box (Box the mother bar and all subsequent inside bars)
This indicator handles correctly the edge conditions such as:
1. bar close = bar open
2. current bar low equals to mother bar low or current bar high equals mother bar high
Doji Double Top & Double Bottom
FUNCTION :
This indicator checks if 2 consecutive candlesticks are formed in such a way that both the lows or both the highs of the consecutive candlesticks are almost at the same level and either of them is a doji
TIMEFRAMES :
it works on daily, weekly, monthly and higher timeframes
CRITERIA :
There is maximum difference value between 2 consecutive candlesticks' lows or 2 consecutive candlesticks' highs
Minimum value of the doji's wick size
Maximum value of the doji's body size
These 3 conditions need to be fulfilled for the 2 consecutive candlesticks to be considered as a Double top or Double bottom by this indicator
EXAMPLES :
Here the indicator is giving only double Bottom signals on CRUDE OIL chart
Here the indicator is giving only double top signals on GOLD chart
Here the indicator gives both double top & double bottom signals on EUR/USD Daily chart
Here the indicator is giving both double top & double bottom signals on EUR/USD Half-Yearly chart
DEFINITIONS :
There are 2 types -
DOJI DOUBLE BOTTOM - if the lows of 2 consecutive candlesticks are almost at the same level & either of them is doji then it is called Double Bottom and market is supposed to go higher after forming it.
DOJI DOUBLE TOP - if the highs of 2 consecutive candlesticks are almost at the same level & either of them is doji then it is called Double Top and market is supposed to go lower after forming it.
SETTINGS :
There are options to change the value of each of the 3 parameters within the indicator's settings for daily, weekly & monthly chart [
LIMITATIONS :
You should not trade based on the signals from this indicator solely, you should check other parameters too before making trading decision
Advanced Trend Strategy [BITsPIP] V2.0.0The BITsPIP team is super excited to share our latest trading gem with you all. We're all about diving deep and ensuring our strategies can stand the test of time. So, we invite you to join us in exploring the awesome potential of this new strategy and really put it through its pace with some deep backtesting. This isn't just another strategy; it boasts a profit factor hovering around 1.5 across over 1000 trades, which is quite an achievement. Consider integrating it with your trading bots to further enhance your trading efficiency and profit generation. Curious? Ask for trial access or drop by our website for more details.
I. Deep Backtesting
We're all in on transparency and solid results, which is why we didn't stop at 100... or even 500 trades. We went over 1000, making sure this strategy is as robust as they come. No flimsy forecasts or sneaky repainting here. Just good, solid strategy that's ready for the real deal. Curious about the details? Check out our detailed backtesting screenshot for the BINANCE:BTCUSDT in a 5-minute timeframe. It's all about giving you the clear picture.
#No Overfitting
#No Repainting
Backtesting Screenshot
II. Algorithmic Trading
Thinking of trading as a manual game? Think again! Manual trading is a bit like rolling the dice - fun, but kind of risky if you're aiming for consistent wins. Instead, why not lean into the future with algorithmic trading? It's all about trusting the market's rhythm over the long term. By integrating your strategy with a trading bot, you can enjoy peace of mind, rest easy, and keep those emotional trades at bay.
III) Applications
Dive into the Advanced Trend Strategy, your versatile tool for navigating the market's waters. This strategy shines in under an hour timeframes, offering adaptability across stocks, commodities, forex, and cryptocurrencies. Initially fine-tuned for low-volatility cryptos like BINANCE:BTCUSDT , its default settings are a solid starting point.
But here's where your expertise comes into play. Each market beats to its own drum, necessitating nuanced adjustments to stop loss and take profit settings. This customization is key to maximizing the strategy's effectiveness in your chosen arena.
IV) Strategy's Logic
The Advanced Trend Strategy is a powerhouse, blending the precision of Hull Suite, RSI, and our unique trend detector technique. At its core, it’s designed for savvy risk management, aiming to lock in substantial profits while steering clear of minor market ripples. It utilizes stop-loss and take-profit thresholds to form a profit channel, providing a safety net for each trade. This is a trend-following strategy at heart, where these profit channels play a critical role in maximizing returns by securing positions within these "warranty channels."
1. Trend-Following
The market's complexity, influenced by countless factors, makes small movements seem almost chaotic. Yet, the principle of #Trend-Following shines in less volatile markets in long term. The strategy excels by pinpointing the ideal moments to enter the market, coupled with refined risk management to secure profits. It’s tailored for you, the individual trader, enabling you to ride the waves of market trends upwards or downwards.
2. Risk Management
A key facet of the strategy is its emphasis on pragmatic risk management. Traders are empowered to establish practical stop-loss and take-profit levels, tailoring these crucial parameters to the specific market they are engaging in. This customization is instrumental in optimizing long-term profitability, ensuring that the strategy adapts fluidly to the unique characteristics and volatility patterns of different trading environments.
V) Strategy's Input Settings and Default Values
1. Alerts
The strategy comes equipped with a flexible alert system designed to keep you informed and ready to act. Within the settings, you’ll find options to configure order/exit and comment/alert messages to your preference. This feature is particularly useful for staying on top of the strategy’s activities without constant manual oversight.
2. Hull Suite
i. Hull Suite Length: Designed for capturing long-term trends, the Hull Suite Length is configured at 1000. Functioning comparably to moving averages, the Hull Suite features upper and lower bands. Currently, it is set to 1000.
ii. Length Multiplier: It's advisable to maintain a minimal value for the Length Multiplier, prioritizing the optimization of the Hull Suite Length. Presently, it is set to 1.
3. RSI Indicator
i. The RSI is a widely recognized tool in trading. Adapt the oversold and overbought thresholds to better match the specifics of your market for optimal results.
4. StopLoss and TakeProfit
i. StopLoss and TakeProfit Settings: Two distinct approaches are available. Semi-Automatic StopLoss/TakeProfit Setting and Manual StopLoss/TakeProfit Setting. The Semi-Automatic mode streamlines the process by allowing you to input values for a 5-minute timeframe, subsequently auto-adjusting these values across various timeframes, both lower and higher. Conversely, the Manual mode offers full control, enabling you to meticulously define TakeProfit values for each individual timeframe.
ii. TakeProfit Threshold # and TakeProfit Value #: Imagine this mechanism as an ascending staircase. Each step represents a range, with the lower boundary (TakeProfit Value) designed to close the trade upon being reached, and the upper boundary (TakeProfit Threshold) upon being hit, propelling the trade to the next level, and forming a new range. This stair-stepping approach enhances risk management and increases profitability. The pre-set configurations are tailored for BINANCE:BTCUSDT. It's advisable to devote time to tailoring these settings to your specific market, aiming to achieve optimal results based on backtesting.
iii. StopLoss Value: In line with its name, this value marks the limit of loss you're prepared to accept should the market trend go against your expectations. It's crucial to note that once your asset reaches the first TakeProfit range, the initial StopLoss value becomes obsolete, supplanted by the first TakeProfit Value. The default StopLoss value is pegged at 1.6(%), a figure worth considering in your trading strategy.
VI) Entry Conditions
The primary signal for entry is generated by our custom trend detection mechanism and hull suite values (ascending/descending). This is supported by additional indicators acting as confirmation.
VII) Exit Conditions
The strategy stipulates exit conditions primarily governed by stop loss and take profit parameters. On infrequent occasions, if the trend lacks confirmation post-entry, the strategy mandates an exit upon the issuance of a reverse signal (whether confirmed or unconfirmed) by the strategy itself.
Jan 18, 2025
Release Notes
We've made the script public. Also, We've updated the basic properties of our strategy to enhance risk management capabilities. The "Commission" has been adjusted to 0.05%. Take a look at our latest backtesting outcomes on BINANCE:BTCUSDT , showcasing the performance across more than 1000 closed trades.
BITsPIP
Candle 1 2 3 on XAUUSD (by Veronica)Description
Discover the Candle 1 2 3 Strategy, a simple yet effective trading method tailored exclusively for XAUUSD on the 15-minute timeframe. Designed by Veronica, this strategy focuses on identifying key reversal and continuation patterns during the London and New York sessions, making it ideal for traders who prioritise high-probability entries during these active market hours.
Key Features:
1. Session-Specific Trading:
The strategy operates strictly during London (03:00–06:00 UTC) and New York (08:30–12:30 UTC) sessions, where XAUUSD tends to show higher volatility and clearer price movements.
Pattern Criteria:
- Works best if the first candle is NOT a pin bar or a doji.
- Third candle should either:
a. Be a marubozu (large body with minimal wicks).
a. Have a significant body with wicks, ensuring the close of the third candle is above Candle 2 (for Buy) or below Candle 2 (for Sell).
Callout Labels and Alerts:
Automatic Buy and Sell labels are displayed on the chart during qualifying sessions, ensuring clarity for decision-making.
Integrated alerts notify you of trading opportunities in real-time.
Risk Management:
Built-in Risk Calculator to estimate lot sizes based on your account size, risk percentage, and stop-loss levels.
Customizable Table:
Displays your calculated lot size for various stop-loss pip values, making risk management seamless and efficient.
How to Use:
1. Apply the indicator to XAUUSD (M15).
2. Focus on setups appearing within the London and New York sessions only.
3. Ensure the first candle is neither a pin bar nor a doji.
4. Validate the third candle's body placement:
For a Buy, the third candle’s close must be above the second candle.
For a Sell, the third candle’s close must be below the second candle.
5. Use the generated alerts to streamline your entry process.
Notes:
This strategy is meant to complement your existing knowledge of market structure and price action.
Always backtest thoroughly and adjust parameters to fit your personal trading style and risk tolerance.
Credit:
This strategy is the intellectual property of Veronica, developed specifically for XAUUSD (M15) traders seeking precision entries during high-volume sessions.
Optimized Engulfing StrategyOptimized Engulfing Strategy
The Optimized Engulfing Strategy is a trend-following system designed to capitalize on bullish and bearish engulfing patterns in the market. It uses a combination of price action, trend direction, and volatility-based risk management to execute high-probability trades.
Key Components:
Bullish Engulfing Pattern:
A bullish engulfing candle is identified when:
The current candle closes above its open (bullish).
The previous candle closes below its open (bearish).
The current candle's close is higher than the previous candle's open.
The current candle's open is lower than the previous candle's close.
This pattern signals potential bullish momentum.
Bearish Engulfing Pattern:
A bearish engulfing candle is identified when:
The current candle closes below its open (bearish).
The previous candle closes above its open (bullish).
The current candle's close is lower than the previous candle's open.
The current candle's open is higher than the previous candle's close.
This pattern signals potential bearish momentum.
Trend Confirmation:
Trades are only taken in the direction of the trend:
Buy: When the 50-period SMA (simple moving average) is above the 200-period SMA, indicating an uptrend.
Sell: When the 50-period SMA is below the 200-period SMA, indicating a downtrend.
Risk Management:
Stop Loss: Placed below the low of the engulfing candle (for buys) or above the high (for sells), with an additional buffer based on the ATR (Average True Range) multiplied by a user-defined factor (default: 1.5).
Take Profit: Calculated using a fixed risk-to-reward ratio (default: 1:2), ensuring a potential reward that is double the risk.
Session Filtering:
Trades can be limited to specific trading hours using a customizable session filter (default: 24 hours).
Trade Execution:
Separate logic is implemented for buy and sell trades, allowing independent toggling of long or short positions via user inputs.
Visualization:
Bullish and bearish engulfing candles are highlighted on the chart for clarity.
The ATR value is displayed in the top-right corner of the chart for reference.
How It Works:
Identify a bullish or bearish engulfing pattern.
Confirm the direction of the trend using the 50 SMA and 200 SMA.
Ensure the market is within the allowed session filter (e.g., London or New York sessions).
Enter a trade if all conditions are met:
Long trades for bullish engulfing patterns in an uptrend.
Short trades for bearish engulfing patterns in a downtrend.
Manage the trade using a stop loss and take profit based on ATR and the risk-reward ratio.
