RAINBOW AVERAGES - INDICATOR - (AS) - 1/3
-INTRODUCTION:
This is the first of three scripts I intend to publish using rainbow indicators. This script serves as a groundwork for the other two. It is a RAINBOW MOVING AVERAGES indicator primarily designed for trend detection. The upcoming script will also be an indicator but with overlay=false (below the chart, not on it) and will utilize RAINBOW BANDS and RAINBOW OSCILLATOR. The third script will be a strategy combining all of them.
RAINBOW moving averages can be used in various ways, but this script is mainly intended for trend analysis. It is meant to be used with overlay=true, but if the user wishes, it can be viewed below the chart. To achieve this, you need to change the code from overlay=true to false and turn off the first switch that plots the rainbow on the chart (or simply move the indicator to a new pane below). By doing this, you will be able to see how all four conditions used to detect trends work on the chart. But let's not get ahead of ourselves.
-WHAT IS IT:
In its simplest form, this indicator uses 10 moving averages colored like a rainbow. The calculation is as follows:
MA0: This is the main moving average and can be defined with the type (SMA, EMA, RMA, WMA, SINE), length, and price source. However, the second moving average (MA1) is calculated using MA0 as its source, MA2 uses MA1 as the data source, and so on, until the last one, MA9. Hence, there are 10 moving averages. The first moving average is special as all the others derive from it. This indicator has many potential uses, such as entry/exit signals, volatility indication, and stop-loss placement, but for now, we will focus on trend detection.
-TREND DETECTION:
The indicator offers four different background color options based on the user's preference:
0-NONE: No background color is applied as no trend detection tools is being used (boring)
1-CHANGE: The background color is determined by summing the changes of all 10 moving averages (from two bars). If the sum is positive and not falling, the background color is GREEN. If the sum is negative and not rising, the background color is RED. From early testing, it works well for the beginning of a movement but not so much for a lasting trend.
2-RAINBW: The background color is green when all the moving averages are in ascending order, indicating a bullish trend. It is red when all the moving averages are in descending order, indicating a bearish trend. For example, if MA1>MA2>MA3>MA4..., the background color is green. If MA1 threshold, and red indicates width < -threshold.
4-DIRECT: The background color is determined by counting the number of moving averages that are either above or below the input source. If the specified number of moving averages is above the source, the background color is green. If the specified number of moving averages is below the source, the background color is red. If all ten MAs are below the price source, the indicator will show 10, and if all ten MAs are above, it will show -10. The specific value will be set later in the settings (same for 3-TSHOLD variant). This method works well for lasting trends.
Note: If the indicator is turned into a below-chart version, all four color options can be seen as separate indicators.
-PARAMETERS - SETTINGS:
The first line is an on/off switch to plot the skittles indicator (and some info in the tooltip). The second line has already been discussed, which is the background color and the selection of the source (only used for MA0!).
The line "MA1: TYP/LEN" is where we define the parameters of MA0 (important). We choose from the types of moving averages (SMA, EMA, RMA, WMA, SINE) and set the length.
Important Note: It says MA1, but it should be MA0!.
The next line defines whether we want to smooth MA1 (which is actually MA0) and the period for smoothing. When smoothing is turned on, MA0 will be smoothed using a 3-pole super smoother. It's worth noting that although this only applies to MA0, as the other MAs are derived from it, they will also be smoothed.
In the line below, we define the type and length of MAs for MA2 (and other MAs except MA0). The same type and length are used for MA1 to MA9. It's important to remember that these values should be smaller. For example, if we set 55, it means that MA1 is the average of 55 periods of MA0, MA2 will be 55 periods of MA1, and so on. I encourage trying different combinations of MA types as it can be easily adjusted for ur type of trading. RMA looks quirky.
Moving on to the last line, we define some inputs for the background color:
TSH: The threshold value when using 3-TSHOLD-BGC. It's a good idea to change the chart to a pane below for easier adjustment. The default values are based on EURUSD-5M.
BG_DIR: The value that must be crossed or equal to the MA score if using 4-DIRECT-BGC. There are 10 MAs, so the maximum value is also 10. For example, if you set it to 9, it means that at least 9 MAs must be below/above the price for the script to detect a trend. Higher values are recommended as most of the time, this indicator oscillates either around the maximum or minimum value.
-SUMMARY OF SETTINGS:
L1 - PLOT MAs and general info tooltip
L2 - Select the source for MA0 and type of trend detection.
L3 - Set the type and length of MA0 (important).
L4 - Turn smoothing on/off for MA0 and set the period for super smoothing.
L5 - Set the type and length for the rest of the MAs.
L6 - Set values if using 4-DIRECT or 3-TSHOLD for the trend detection.
-OTHERS:
To see trend indicators, you need to turn off the plotting of MAs (first line), and then choose the variant you want for the background color. This will plot it on the chart below.
Keep in mind that M1 int settings stands for MA0 and MA2 for all of the 9 MAs left.
Yes, it may seem more complicated than it actually is. In a nutshell, these are 10 MAs, and each one after MA0 uses the previous one as its source. Plus few conditions for range detection. rest is mainly plots and colors.
There are tooltips to help you with the parameters.
I hope this will be useful to someone. If you have any ideas, feedback, or spot errors in the code, LET ME KNOW.
Stay tuned for the remaining two scripts using skittles indicators and check out my other scripts.
-ALSO:
I'm always looking for ideas for interesting indicators and strategies that I could code, so if you don't know Pinescript, just message me, and I would be glad to write your own indicator/strategy for free, obviously.
-----May the force of the market be with you, and until we meet again,
Pattern grafici
StdDev ChannelsThis script draws two sets of standard deviation channels on the price chart, providing a nuanced view of price volatility over different lengths.
The script starts by declaring a set of user-defined inputs allowing traders to customize the tool according to their individual requirements. The price input sets the source of the price data, defaulting to the closing price but customizable to use open, high, or low prices. The deviations parameter defines the width of the channels, with larger numbers resulting in wider channels. The length and length2 inputs represent the number of periods (in bars) that the script considers when calculating the regression line and standard deviation. Traders can also personalize the visual aspects of the indicator on the chart using the color, linewidth, and linestyle parameters.
Calculation of Standard Deviation:
The core of this script lies in calculating the regression line and standard deviation. This is where the InertiaAll function comes into play. This function calculates the linear regression line, which serves as the middle line of each channel. The function takes in two parameters: y (price data) and n (length for calculation). It returns an array containing the values for the regression line (InertiaTS), counter variable (x), slope of the line (a), and y-intercept (b). The standard deviation is then calculated using the built-in function ta.stdev, which measures the amount of variation or dispersion from the average.
After the calculation, the script proceeds to draw the channels. It creates two sets of lines (upper, middle, and lower) for each channel. These lines are initialized at the lowest price point on the chart (low). The coordinates for these lines get updated in the last section of the script, which runs only on the last bar on the chart (if barstate.islast). The functions line.set_xy1 and line.set_xy2 are used to adjust the starting and ending points for each line, forming the channels.
If the "full range" toggle is enabled, the script uses the maximum number of bars available on the chart to calculate the regression and standard deviation. This can give a broader perspective of the price's volatility over the entire available data range.
A Basic Strategy
The channels generated by this script may inform your trading decisions. If the price hits the upper line of a channel, it could suggest an 'overbought' condition indicating a potential selling opportunity. Conversely, if the price hits the lower line, it might signal an 'oversold' condition, suggesting a buying opportunity. The second channel, calculated over a different length, may serve to confirm these signals or identify longer-term trends.
Trend Channels With Liquidity Breaks [ChartPrime]Trend Channels
This simple trading indicator is designed to quickly identify and visualize support and resistance channels in any market. The primary purpose of the Trend Channels with Liquidity Breaks indicator is to recognize and visualize the dominant trend in a more intuitive and user-friendly manner.
Main Features
Automatically identifies and plots channels based on pivot highs and lows
Option to extend the channel lines
Display breaks of the channels where liquidity is deemed high
Inclusion of volume data within the channel bands (optional)
Market-friendly and customizable colors and settings for easy visual identification
Settings
Length: Adjust the length and lookback of the channels
Show Last Channel: Only shows the last channel
Volume BG: Shade the zones according to the volume detected
How to Interpret
Trend Channels with Liquidity Breaks indicator uses a combination of pivot highs and pivot lows to create support and resistance zones, helping traders to identify potential breakouts, reversals or continuations of a trend.
These support and resistance zones are visualized as upper and lower channel lines, with a dashed center line representing the midpoint of the channel. The indicator also allows you to see the volume data within the channel bands if you choose to enable this functionality. High volume zones can potentially signal strong buying or selling pressure, which may lead to potential breakouts or trend confirmations.
To make the channels more market-friendly and visually appealing, Trend Channels indicator also offers customizable colors for upper and lower lines, as well as the possibility to extend the line lengths for further analysis.
The indicator displays breaks of key levels in the market with higher volume.
Regression Envelope MTFThe Regression Envelope MTF indicator is a technical analysis tool that uses linear regression to identify potential price reversal points in the market. The indicator plots a linear regression line based on the selected price source over a specified length, and adds and subtracts a multiple of the standard deviation to create upper and lower bands around the line.
One advantage of using linear regression over the traditional envelope indicator is that it takes into account the slope of the trend, rather than assuming that the trend is linear. This means that the bands will adapt to the slope of the trend, which can provide more accurate signals in trending markets.
Another advantage of using linear regression over a simple moving average (SMA) is that it is less sensitive to outliers. SMAs can be heavily influenced by extreme values in the data, which can result in false signals. Linear regression, on the other hand, is more robust to outliers, which can lead to more reliable signals.
Overall, the Regression Envelope MTF indicator can be a useful tool for traders and investors looking to identify potential price reversal points and generate trading signals. However, it should be used in conjunction with other technical analysis tools and with proper risk management strategies in place.
Donchian Channel Smoothed (Linear Regression)The script is an implementation of the Donchian Channel Smoothed indicator using linear regression to smooth the data. The indicator plots three curves: the middle curve, which represents the average of the upper and lower curves, and the upper and lower curves, which are the standard Donchian channels.
The smoothing is done using linear regression on the highest and lowest of the given period. This helps filter out the noise in the data and provides a smoother curve that can help traders identify trends and key levels of support and resistance. The advantages of using linear regression for smoothing are reduced data volatility, better identification of long-term trends, and improved ability to identify support and resistance levels.
Using this indicator, traders can identify potential entry and exit points in a trend, as well as key support and resistance levels. Donchian channels are also useful for measuring asset volatility and determining trading range boundaries.
In summary, using linear regression to smooth the data in the Donchian Channel Smoothed indicator presents significant advantages for traders, such as reduced data volatility and better identification of long-term trends. This allows traders to more easily identify support and resistance levels and make more informed trading decisions.
BD Momentum ChannelIntroducing the BD Momentum Channel, a new indicator that helps traders identify market trends and momentum through a combination of upper and lower channels, as well as fast and slow moving averages. The BD Momentum Channel can be used in standalone mode or in combination with other technical analysis tools to enhance trading strategies. We recommend using it in combination with the Wave Master indicator.
To use the indicator, simply input the desired length for the upper and lower channels, as well as the smoothing periods for the fast and slow moving averages or use the provided defaults. The Bull and Bear Levels can be set to the desired values, while the Extreme Bull and Extreme Bear Levels can be used to signal significant market movements.
The BD Momentum Channel works by calculating the highest and lowest prices over a specified period, and then finding the average of these two values, which is used as the basis for the upper and lower channels. The width of the channel is calculated as the difference between the upper and lower channels, while the position of the current price in relation to the upper and lower channels is used to determine the percentage change and which half of the channel the price is in.
The fast and slow moving averages are then calculated using a simple moving average function, and plotted as histograms on the chart. The Bull and Bear Levels are also plotted on the chart as horizontal lines, providing a quick reference for market direction.
The BD Momentum Channel also includes a range of color-coded signals, including extreme bull and bear levels, and cross-under and cross-over signals that can be used to confirm trends and changes in market momentum.
Overall, the BD Momentum Channel is a powerful tool for traders looking to identify market trends and momentum, and can be easily customized to suit individual trading strategies.
TideMasterThe TideMaster is an alternative to the classic moving average, providing a volatility channel around its centerline. The idea of such envelope has been popularized by many technicians such as Jake Bernstein and Jeffrey Kennedy.
The channel creates a virtual S/R zone which is ideal trend following and pullback entries after impulsive movements. It also acts as a tool to avoid price whipsaws and to provide a simple heuristic for entry and stop loss placement within a moving average system.
This indicator has the following unique features:
- Gradient Color Centerline to track the moving average slope/direction.
- Gradient Color Volatility Channel with adjustable width.
- 5 Moving Average Types: EMA,SMA,HMA,WMA & VWMA.
Enjoy!
Double top and double bottomThis script identifies double top and double bottom chart patterns
It has many settings. For example, you can choose by which extremums you want to identify patterns - by the edges of wicks (tails, shadows), or by the edges of candle bodies .
The Sensitivity parameter will allow you to control the frequency of detected patterns , depending on whether you want the patterns to be detected more often, or if they cover a larger number of candles and thus be more reliable.
There are also several settings which you can determine the parameters of the pattern - the length and proportions of the lines included in it .
You can also customize your styles.
All key settings are accompanied by tooltips
Alex's Dikfat Velocity 2hr CCI Color SignalerAlex's Dikfat Velocity 2hr CCI Color Signaler
As most traders have experienced at one time or another, over bought and oversold readings are relative in nature and do not always work as a standalone reading.
Momentum indicators such as the Commodity Channel Index ( CCI ) have to be understood and read correctly to determine the value in a momentum reading.
When an asset is "Overbought" or "Oversold" the reading can remain in this region Irrationally for extended periods as the market remains in irrational trend.
In order to better understand this and other readings on a momentum indicator clues such as divergence, exhaustion, continuation, time and frequency as well as the actual velocity of the movement must be measured. In addition, there are very specific measurement lines on the CCI that must be read and that can reject or break and result in the asset either loosing or gaining momentum in one direction or the other. These are the dashed lines in the background.
For the purposes of this Indicator, the actual function, characterization and use of CCI will not be explained here as the colored indications themselves will do all the work for you.
It is very important to know that the calculations used to signal the color filling ARE NOT based on simple breaks of the dashed background lines as traditionally read with a CCI indicator.
The calculations used in this Indicator are based on a very fine tuned mathematical algorithm that measure an unseen element within the CCI . When the VELOCITY of a move in momentum is met, the color fills will begin. When the VELOCITY of the move changes, so to will colorization. This has led to some of the best High Probability Long and Short Sale signaling in any CCI indicator. Pairing this with your favorite chart indicators and personal analysis will result in high tradability but can also be used stand alone.
Remember: No one single indicator should ever be used to determine market signaling.
A basic understanding of a CCI indicator is recommended before using this indicator.
This indicator and the proprietary calculations used were built and meant to be used on the 2 Hour Timeframe. The indicator is open to all time frames and accuracy increases as the time frame increases.
It is recommended that if you use this indicator on a lower timeframe, to pull CCI readings from a higher Timeframe as found in the settings.
This indicator signals long and short opportunities. High Probability long and short trades, bullish and bearish divergence building, market time traps and bullish / bearish continuation as well as exhaustion of these moves.
There is also a companion indicator which will signal the High Probability Long and Short trades on the candle chart called "Alex's Dikfat CCI Equity Signaler" Which will place white Triangles on the candle chart showing high probability long entries and Orange Triangles for High Probability short entries. These are also built into the CCI line and can be turned on in this indicator.
Color Code:
Bullish Continuation: (Background Color Black)
The function of the black background colorization is to alert the user that a bullish move has begun and is currently in a strong continuation period. the longer the black background color draws, the more sustained or trending up the current move is. When these background lines begin to break and start to appear as more frequent broken background lines, exhaustion in the move can be assumed. When the black stops drawing all together, the strength of the continuation move is gone.
Bearish Continuation: (Background Color Fuchsia)
The function of the fuchsia background colorization is to alert the user that a bearish move has begun and is currently in a strong continuation period. the longer the fuchsia background color draws, the more sustained or trending down the current move is. When these background lines begin to break and start to appear as more frequent broken background lines, exhaustion in the move can be assumed. When the fuchsia stops drawing all together, the strength of the continuation move is gone.
High Probability Long/Short:
These buy and sell opportunities were designed to give a trader the best signal/entry on a Long or a Short with the highest probability of making a large and typically sustained impulse move.
High Probability Long: (White Color Fill)
The High Probability Long is a signal to BUY with the best possible entry on an a pending large impulse move to the upside. When White begins to fill, The long is extremely likely. The signal is confirmed on the close of the following candle after white begins to draw unless an opposing color immediately follows, or white dips below the zero line. White will always usually start just below the zero line in the highest probability scenarios.
High Probability Short: (Orange Color Fill)
The High Probability Short is a signal to SELL SHORT with the best possible entry on a pending large impulse move to the downside. When Orange begins to fill, The Short is extremely likely. The signal is confirmed on the close of the following candle after orange begins to draw unless an opposing color immediately follows. Some of the best entries for Orange are when it starts at the END of a black stripe in the background and better so when Orange dips below zero for entry. The signal was designed to color early enough to get in a short during consolidation before the move.
Long and Short Opportunities: Long and Short opportunities are just as they sound. Coloring will signal green for a long opportunity and red for a short opportunity. These opportunities are not always guaranteed and usually result in an lesser impulse move in one direction with a shorter duration.
Long Opportunity: (Green)
The Long Opportunity is a signal that a Long is possible however with less likely odds of a larger more sustained move. When Green begins to fill, a long opportunity is available. The signal is confirmed on the close of the following candle after green begins to draw unless an opposing color immediately follows, or green dips below the zero line. Green will always usually start just above the zero line and have the best opportunities at the end of Bullish Divergence (Blue) at the end of Bearish Continuation (Fuchsia) or a non filled CCI .
Short Opportunity: (Red)
The Short Opportunity is a signal that a Short is possible however with less likely odds of a larger more sustained move. When Red begins to fill, a short opportunity is available. The signal is confirmed on the close of the following candle after red begins to draw unless an opposing color immediately follows. Some of the best entries for Red are when it starts at the END of a black stripe in the background (higher odds than other red signaling). The signal was designed to color early enough to get in a short during consolidation before the move and better so if orange develops after red.
Bullish Divergence: (Dark Blue)
Dark Blue colors when Bullish Divergence is detected. Bullish divergence is a signal that momentum is building higher within the asset for an up move while price action in the candle chart makes lower lows. Bullish Divergence is not a signal to buy or sell but rather a sign post to say WAIT. Bullish divergence is building and a Long is coming. Some traders will buy bullish divergence in anticipation of a move and is only equitable if you have the cash and resolve to follow it through for as long as it is developing. Buying or selling divergence right away is not always the best practice unless a hard dip below all momentum lines followed by an immediate buy signal from white or green resulting in a drop base rally.
Bearish Divergence: (Dark Maroon)
Dark Maroon colors when Bearish Divergence is detected. Bearish divergence is a signal that momentum is dropping out of the asset for a move lower while price action in the candle chart makes higher highs. Bearish Divergence is not a signal to buy or sell but rather a sign post to say WAIT. Bearish divergence is building and a Short is coming. Some traders will sell bearish divergence in anticipation of a move and is only equitable if you have the cash and resolve to follow it through for as long as it is developing. Buying or selling divergence right away is not always the best practice unless a hard rip above all momentum lines followed by an immediate sell signal from red or orange resulting in a rally base drop.
No Color Fill:
When CCI has no color fill whatsoever it is telling the trader there are no high velocity movements in momentum in any direction. Best practice is to do nothing and wait out the Time Trap currently on the chart until signaling develops.
Time and Frequency:
Time and frequency is notable throughout the indicator. First and foremost when CCI is not being filled it is best practice to do nothing as there is NO Velocity of Movement within the asset at that time. This is one of the most obvious of Time Traps.
Bullish and Bearish Divergence is also a type of Time Trap. The longer these develop, the more weak hands are shaken out of the market and derivatives traders have their premium burned. Best practice with divergences is also to wait until adequate signaling develops, or be willing to buy or sell the appropriate divergence by accumulating or distributing for as long as it develops; or simply to buy/sell and hold for the move.
Any Sustained color for extended periods of time is also a time trap signaling to the trader that the asset is being irrational in its present move.
Bullish and Bearish Continuation:
These also deal with time and frequency most importantly. When we are on a sustained Bull Run, black will color in the background continuously. When the black starts to barcode or break up, exhaustion of the bull run is assumed as the frequency of the run becomes erratic. Inversely, When we are on a sustained Bear Run, fuchsia will color in the background continuously. When the fuchsia starts to barcode or break up, exhaustion of the bear run is assumed as the frequency of the run becomes erratic.
The color scheme is designed to be read from darkest to lightest when a sequence of events is found. I.E Dark Maroon>Red>Orange or Inversely Dark Blue>Green>White
In keeping with the best practices and traditions of TradingView, we have published this as a public script with the best intentions of aiding the TradingView community in unique and valuable ways. While some of our best indicators are by invite only, we feel an addition to the community of this magnitude will add to the fabric and substance of community.
TradingWolf Premium PatternsThe TradingWolf Premium is a one of a kind indicator which can identify charting patterns unlike any others. Standard Chart patterns take 10+ candles to recognise where as ares are almost instant without repainting!
Within this one indicator you will have access to Break Out Levels , Dynamic Support and resistance, Bull Flag, Bear Flag, Rising Wedge, Falling Wedge, Inverse Head & Shoulders, Head & Shoulders, Double Top, Double Bottom, Trend Lines, Ascending Triangle, Descending Triangle, Parallel Channel & Linear Regression Channels.
Below each indicator is explained along with its enhancements to help you understand it better.
This script comes with the 'TradingWolf Premium' to get access, read the Author’s Instructions below.
There are extensive explanations on how to use this indicator in our documentation on the website but we will give a simple overview here.
Break Out Levels
Break out levels are great for breakout traders, this indicator is scanning for strong points of support & resistance, it does this by finding pivot points where price has had a noticeable pull back. From there it will monitor that level and display a signal soon as price breaks it.
Another use case for this indicator is helping identify the market structure direction. If we are breaking up and getting Green triangles, this suggests we are in a bullish up-trending structure and vice versa for red bearish signals.
Support & Resistance
There are lots of ways of deciding how to mark up support and resistance, we like to use ATR values related to daily price action. Marking levels up on lower timeframes tend not to give such good levels to play whereas calculating values from the Higher time frames gives us levels we know are more like to be respected.
Although they are calculated from the daily timeframe you will notice these levels will adjust to the daily price action to make sure they are keeping up to date on levels you need to keep an eye on.
Flags
Flags show signs of continuation, they are confirmed when price breaks the upper resistance for bull flags and lower support for bear flags. They are commonly used in trading but with this indicator, it will help you spot ones you may normally miss. Everyone judges flags differently so we have given you the ability to decide how strict you would like the flags to be with the correlation setting, if you set it to 100% the top and bottom lines of the flag must be going at the exact same angle to count as a valid flag.
Wedges
A wedge pattern is typically a reversal pattern, you would normally use these in correlation with volume. For a confirmed wedge you want declining volume as the price reaches the wedge end. You can either try entering at the top/bottom of the wedge pattern or wait until price breaks into the opposite trending direction.
Head & Shoulders
These are reversal patterns, for a confirmed Head and shoulder pattern you want to pair it with declining volume or momentum
You will notice you have a HF option, when enabled this will scan multiple different lengths of pivots to try spot more patterns which the regular settings may miss. If you think you are getting enough you may want to disable this.
Triangles
Triangles help us identify areas where price starts consolidating in a narrow range, once we reach roughly ¾ of the way through the triangle, we will see a break out in either direction, normally confirmation just requires 1 close out of the triangle along with increased volume. If you miss the initial move you may be able to catch a retest if you are lucky!
Double Tops & Bottoms
These patterns are considered reversal patterns. They are confirmed on the break of the neck line with increased volume.
Trend Lines
These are as simple as the name suggests, the lines are calculated slightly differently to other support and resistance points but they will work the same spotting potential areas where price will bounce or reject.
Channels
Similar to Trend lines but these are looking for trend lines at the same angle forming channels where price tends to range between. You have several options to edit these in the settings including the correlation % of the channel lines, how many candles are allowed outside of the channel (fake outs), sensitivity/ frequency the channels appear and whether you use the Wicks or candle Closes to determine where to calculate the channels from.
Linear Regression Channels
Linear regression is the analysis of two separate variables to define a single relationship and is a useful measure from a technical and quantitative point of view.
As seen in the image above, these can be used to help determine key levels in the chart where price is likely to react. In the settings you will be able to adjust its sensitivity to the levels you like to trade.
Pro Trading Art - Double Top & Bottom with alertThis indicator is based on ta.pivothigh and ta.pivotlow function. And with the help of different ph and pl I am detecting double top and double bottom.
Features
1. All signal are on realtime means no repaint
2. Able to detect precise double top & bottom
Input Field
Pivot Length : Default 10 => Use to detect pivot point
V Bottom & V Top Pattern [Misu]█ This indicator shows V bottom & V top patterns as well as potential V bottom & V top.
These V bottom & V top are chart powerful reversal patterns.
They appear in all markets and time-frames, but due to the nature of the aggressive moves that take place when a market reverses direction, it can be difficult to identify this pattern in real-time.
To address this problem, I added potential V pattern as well as the confirmed one.
█ Usages:
You can use V top & V bottoms for reversal zones.
You can use it for scalping strategies, as a main buy & sell signal.
Potential V patterns can be used to anticipate the market, in addition to volatility or momentum indicators, for example.
█ How it works?
This indicator uses pivot points to determine potential V patterns and confirm them.
Paramaters are available to filter breakouts of varying strengths.
Patterns also have a "max number bars" to be validated.
█ Why a Strategy type indicator?
Due to the many different parameters, this indicator is a strategy type.
This way you can overview the best settings depending on your pair & timeframe.
Parameters are available to filter.
█ Parameters:
Deviation: Parameter used to calculate parameters.
Depth: Parameter used to calculate parameters.
Confirmation Type: Type of signal used to confirme the pattern.
> Mid Pivot: pattern will confirm on mid pivot breakout.
> Opposit Pivot: pattern will confirm on opposit pivot breakout.
> No confirmation: no confirmation.
Lenght Avg Body: Lenght used to calculate the average body size.
First Breakout Factor: This factor multiplied by the "body avg" filters out the non-significant breakout of potential V pattern.
Confirmation Breakout Factor: This factor multiplied by the "body avg" filters out the non-significant breakout for the confirmation.
Max Bars Confirmation: The maximum number of bars needed to validate the pattern.
Hodrick-Prescott Channel [Loxx]Hodrick-Prescott Channel is a fast and slow moving average that moves inside a channel. Breakouts are when the fast ma crosses up over the slow ma and breakdowns are the opposite. The white moving average is the fast ma, the slow moving average is the red/green ma.
What is Hodrick–Prescott filter?
The Hodrick–Prescott filter (also known as Hodrick–Prescott decomposition) is a mathematical tool used in macroeconomics, especially in real business cycle theory, to remove the cyclical component of a time series from raw data. It is used to obtain a smoothed-curve representation of a time series, one that is more sensitive to long-term than to short-term fluctuations. The adjustment of the sensitivity of the trend to short-term fluctuations is achieved by modifying a multiplier Lambda.
The filter was popularized in the field of economics in the 1990s by economists Robert J. Hodrick and Nobel Memorial Prize winner Edward C. Prescott, though it was first proposed much earlier by E. T. Whittaker in 1923.
There are some drawbacks to use the HP filter than you can read here: en.wikipedia.org
Included
Bar coloring
Signals
Alerts
Adaptive ATR Keltner Channels [Loxx]Adaptive ATR Channels are adaptive Keltner channels. ATR is calculated using a rolling signal-to-noise ratio making this indicator flex more to changes in price volatility than the fixed Keltner Channels.
What is Average True Range (ATR)?
The average true range (ATR) is a technical analysis indicator, introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing the entire range of an asset price for that period.1
The true range is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close. The ATR is then a moving average, generally using 14 days, of the true ranges.
What are Keltner Channel (ATR)?
Keltner Channels are volatility-based bands that are placed on either side of an asset's price and can aid in determining the direction of a trend.
The Keltner channel uses the average-true range (ATR) or volatility, with breaks above or below the top and bottom barriers signaling a continuation.
Price action: Double top/bottom StrategyDouble top and bottom patterns are chart patterns that occur when the underlying investment moves in a similar pattern to the letter "W" (double bottom) or "M" (double top).
In this strategy, I use Pivot High/Low to find Double top and bottom.
Entry long: when Double bottom occur.
Entry short: when Double top occur.
Risk: Reward: You can change % Stop loss and Target pfofit.
Genie (AB=CD Fibonacci Extensions and Peaks & Valleys)Our proprietary algorithm supports two types of Signals to choose from (and uses Matrices to keep track of the various waves): 'Fibonacci Extensions' where it spots extended waves (XABC) to predict AB=CD moves and puts the Take Profit levels accordingly to commonly used Fibonacci ratios; OR 'P&V' which stands for Peaks & Valleys (M and W) capturing full Peaks and Valleys formations to signal.
Signal Trigger for two types of positions: Breakout or Confirmation when price retraces back to them (so you wait for a candle to close away from price first to Trigger). The idea is whenever a proper Peak or Valley matching those conditions is printed, price usually reacts at those levels by doing a Reversal, so they represent potential entries .
For Confirmation signals, you want price to close away from the level first to then return to it, and that candle close is either a Close (only the close should be outside the level), Hard Close (OPEN and CLOSE outside the level) or Full Close (HIGH, OPEN, CLOSE, LOW all outside the level).
Note that the Signal is to be taken as soon as a Green or Red arrow appears (not before), based on your desired settings.
The Level of Entry is decided by the user; 'Extreme' means you want the algorithm to process based on the Wicks/Pins (Highs and Lows of candles) so while 'Body' means the Borders (Open and Close of candles). Based on this choice the Signal will change accordingly.
The indicator also provides recommended Take Profit levels as well as a Stop Loss levels. The Take Profits are measured based on the wave structure formation.
All features are configurable from the indicator's settings including setting Minimum Take Profit and Reward:Risk (RR) to filter Signals.
This indicator has Alerts for LONG and SHORT signals. You can create a new Alert, select the indicator from the "Condition" list and create it. You can create an Alert for each different timeframe if you want the indicator to monitor various timeframes and give you Alerts accordingly.
Regression Channel with projectionEXPERIMENTAL:
Auto adjusting regressive channel with projection.
Linear regression is a linear approach to modeling the relationship between a dependent variable and one or more independent variables.
In linear regression , the relationships are modeled using linear predictor functions whose unknown model parameters are estimated from the data.
Disclaimer :
Success in trading is all about following your trading strategy and indicators should fit into your own strategy, and not be traded purely on.
This script is for informational and educational purposes only. Use of the script does not constitute professional and / or financial advice. You are solely responsible for evaluating the outcome of the script and the risks associated with using the script. In exchange for the use of the script, you agree not to hold monpotejulien TradingView user responsible for any possible claims for damages arising out of any decisions you make based on the use of the script.
Daily Scalping Moving AveragesThis is a technical analysis study based on the most fit leading indicators for short timeframes like EMA and SMA.
At the same time we have daily channel made from the last 2 weeks of ATR values, which will give us the daily top and bottom expected values(with 80%+ confidence)
We have 3 groups of lengths for short length, medium length and a bigger length.
At the same time we combine it with the daily vwap values .
In the end we are going to have a total of 7 indicators telling us the direction.
The way we can use it :
The max ratings that we can have are +7 for long and -7 for short
In general once we have at least 5 indicators(fast and medium ones) giving us a direction, there is a high chance that we can scalp that trend and then we can exit either when we will be at +7 or close to neutral point
At the same time is very important to be aware of the current position inside of the TOP/BOTTOM channel that we have.
For example lets assume we are at 40k on BTC and our top channel is around 41-42k while the bottom is around 38k. In this case the margin that we have for long is much smaller than for short, so we should be prepared to exit once we reach the top values and from there wait and see if there is a huge continuation or a reversal. If the top channel was hit and the market started the rebounce going downwards and the moving averages confirms it, then we have a huge advantage using the top points as a STOP LOSS and continue the short movements, giving us an amazing risk/reward ratio .
If you have any questions let me know !
Smarter MACD BandThe Smarter MACD displayed as a band instead of an oscillator. A classic MACD with average peak and dip lines. The lighter green and red horizontal lines are the average peak and dip of the entire span, respectively. The second, bolder of the two lines are the averages of the peaks and dips above and below the overall peak and dip averages. The filled in color is to help visualize these averages and possible trade setups.
ZigZag Channel with projection forecastThis indicator is created on top of existing Zigzag indicator .
The projection channel starts at the end of the last ZigZag line.
Disclaimer
Success in trading is all about following your trading strategy and indicators should fit into your own strategy, and not be traded purely on.
This script is for informational and educational purposes only. Use of the script does not constitute professional and / or financial advice. You are solely responsible for evaluating the outcome of the script and the risks associated with using the script. In exchange for the use of the script, you agree not to hold monpotejulien TradingView user responsible for any possible claims for damages arising out of any decisions you make based on the use of the script.
EMA channel with projection forecastExponential Moving Average Channel with projection forecast.
Riding a bull run is almost always riding an EMA value.
This indicator plots displaced EMA values guggesting possible sell targets.
Disclaimer
Success in trading is all about following your trading strategy and indicators should fit into your own strategy, and not be traded purely on.
This script is for informational and educational purposes only. Use of the script does not constitute professional and / or financial advice. You are solely responsible for evaluating the outcome of the script and the risks associated with using the script. In exchange for the use of the script, you agree not to hold monpotejulien TradingView user responsible for any possible claims for damages arising out of any decisions you make based on the use of the script.
Pivot Trend LevelsYou can use this indicator to detect the levels and trend.
I used the highest of the two last highest pivots and the lowest of the two last lowest pivots to calculate "max" and "min" or high level or low level.
I also calculate the average of the 4 values to reach the average line which could be a trend detector in higher lengths.
Default length is 3 but using 10 or 20 as length is really good as trending detector.
I need help to upgrade a trend detector system. please read the script for more information.
Thank you so much.
Volatility ChannelThis script is based on an idea I have had for bands that react better to crypto volatility. It calculates a Donchian Channel, SMMA-Smoothed True Range, Bollinger Bands (standard deviation), and a Keltner Channel (average true range) and averages the components to construct its bands/envelopes. This way, hopefully band touches are a more reliable indicator of a temporary bottom, and so on. Secondary coloring for strength of trend is given as a gradient based on RSI.
