Normailzed CandleThis indicator normalizes Day's candle with Open. Idea is to see the daily movement in the context of the Open of the Day.
Larry Williams talks about Open being the most important price of the day. Hence, this indicator.
The Green line is average Open-to-High for occurrences of Red days. The Red line is average Open-to-Low for occurrences of Green days.
Average are not perfect calculations since occurrences(of Red or Green) will vary within the time-span used for averages.
These can used to gauge likelihood of the intra-day price reversal. If the price exceeds green/red line, there is higher likelihood of the price closing above/below open.
The blue lines are average Open-to-close for Green and Red occurrences.
Be careful on days where consecutive 3rd Highest High or Lowest Low day is made and also on the next day after such day. Prices may turn direction at least for a short while.
The precursor to this script of the Candle Infopanel script. That script was just numbers in panel and this is a graphical representation. I
Some of the calculations from original script are commented here because it would make visuals clutters (and probably the left-out calculation are not critical to making trade decisions!)
Intraday
Hide extended hours/non-intraday barsEspecially for future users, such as ES/NQ/RTY/YM, etc., this script can hide the extended hours/non-intraday bars and leave the intraday bars only.
With this script , you can find the intraday support/resistance quite easily!
Example, if you are a ES investor, you can easily find the intraday support/resistance level ,which is almost equal to SPY, with this script, and no need to check SPY separately again , saving your time a lot.
Note: Please couple this script with American Bars. If you use candle charts, the upper/lower pins of the candle can't be hidden with the bars together, which is restricted by the code editor itself...
Price reversal intraday IndicatorIndicator “Price reversal intraday”
Class : oscillator
Trading type : scalping+intraday trading
Time frame : 15-30 min
Purpose : trading on rebounds and reversals
Level of aggressiveness : aggressive
“Price reversal intraday (PRI)” indicator is designed for aggressive intraday trading on rebounds and reversals. It belongs to oscillators. The idea that formed the basis for the creation of “Price reversal intraday (PRI)” is to obtain a synergistic effect from the use of the best oscillatory techniques: modified Bollinger bands and the classic RSI oscillator.
The indicator, using advanced Bollinger technique, monitors the deviation of the current price from the equilibrium value, and then with the help of the RSI oscillator it determines the moment when this deviation reaches a critical point. As a result, a buy or sell signal is generated, which is displayed on the chart in order to facilitate the trading process as much as possible.
Structure of the indicator
Indicator consists of the following elements:
- red zone – indication of a sell zone. Entry into this zone is a signal to close long positions and search for entry points to sell asset;
- red line – extremely high positive deviation of current price from its equilibrium value;
- blue zone - indication of a buy zone. Entry into this zone is a signal to close short positions and search for entry points to buy asset;
- blue line – extremely high negative deviation of current price from its equilibrium value.
Parameters of the indicator
To configure the indicator, the following parameters are provided:
- RSI_period (default value is 8) - period for calculating the RSI oscillator.
- Ranger_period (default value - 21) - period for calculating the modified Bollinger bands.
- Ranger_width (default value - 1) - the parameter used to control the level of aggressiveness of the indicator and frequency of signals. The lower it is, the more signals the indicator will generate. Possible values from 0 to 3.
- ob (the default value is 60) - this parameter defines the overbought zone for the RSI indicator.
- os (the default value is 40) - this parameter defines the oversold zone for the RSI indicator.
Rules of trading
The main task of the trader using indicator is to monitor the location of the current market price relative to the extreme zones (blue/red). Entering the red zone is a signal for closing long positions and searching for sell entry points. Entering the blue zone is a signal for closing short positions and searching for buy entry points.
The appearance of a blue triangle with the inscription “BUY” on the chart is a signal to open buy positions, and a red triangle with the inscription “SELL” is a signal for sale.
Total Trend Follow Study with Alerts, Pyramid and DCA
Introduction
This is the study version of my trend following strategy. It is designed to be a “drop in” replacement for its twin strategy. I have replicated the analysis logic and entry and exit procedures to produce a nearly identical result set to the strategy. Other than the properties tab, the inputs dialog is exactly the same. Backtest the strategy to determine the best inputs to trade. Then apply the same inputs to this study to forward test. Alerts are available for trade entry, take profit close, stop-loss exit and pyramid level. Please see the strategy version for a complete description of the trading behavior of this script.
In brief, this script is intended to benefit from long duration trending markets. The trading behavior is to buy on strength and sell on weakness. As such the trade orders maintain its directional bias according to price pressure. What you will see on the chart is long positions on the left side of the mountain and short on the right. Long and short positions are not intermingled as long as there exists a detectable trend. My trend following script uses the same pivot point calculations used by my range trader but this time rising pivots are long and falling pivots are short. I refer to pivots as a vertex in the inputs dialog box. The cone based measurement adds a peak, sides and a base to the calculation elements. This allows the inputs to focus on adjusting the location of trades and not just trend lines. The pivot points can be plotted on the backtest. You can use the vertex input values to move the pivots where you want trades to be. This script can be traded in four different modes: Long, Short, BiDir, and Flip Flop.
This script replicates the TradingView pyramid feature by adding a field to the inputs tab. Pyramiding works the same way in this script as its twin strategy. Each pyramid level increases the order size as a multiple of its level. This makes it easy to comply with NFA FIFO Rule 2-43(b) if the trades are executed here in America. The current pyramid level is reported in the summary label when reports are enabled. You can use this value to manually adjust the position size in your forward testing. I also expose an alert when the pyramid threshold is breached. Use the TradingView alert window to send yourself a message when the level increases.
In addition to pyramiding this script employs a DCA feature which can increase the order size in response to stopped out or winning streak trades. The number of losing trades is tracked through the “Debt Sequence” value displayed in the summary report. When the debt is recovered the sequence number resets to zero. You can use the “Debt Sequence” number to manually manage DCA on your forward test. The main difference between DCA and pyramids is that this implementation of DCA applies to new trades while pyramids affect open positions. If DCA is enabled be sure to set the limiter to prevent your account from depleting capital during runaway markets.
I also have a range trading version of this script for those not interested in trend following.
Design
This script is approximately 1800 lines of Pine 4 code and implements nine indicators on two time frames. The chart (primary) interval and one higher time frame which is based on the primary. The higher time frame identifies the trend for which the primary will trade. The original trading algorithms are a port from a much larger program on another trading platform. I've converted some of the statistical functions to use standard indicators available on TradingView. The setups make heavy use of the Hull Moving Average in conjunction with EMAs that form the Bill Williams Alligator as described in his book “New Trading Dimensions” Chapter 3. Lag between the Hull and the EMAs form the basis of the entry and exit points. The alligator itself is used to identify the trend main body.
Indicator Repainting
Indicator repainting is an industry wide problem which mainly occurs when you mix backtest data with real-time data. It doesn't matter which platform you use some form of this condition will manifest itself on your chart over time. The TradingView wiki has an in depth article on this subject in regard to the elements of the Pine language which contribute or are susceptible to this effect. In dealing with this problem from a prevention aspect in Pine, you have to accept some repaint to occur.
The goal of my repaint prevention in the study script is simply to ensure that my signal trading bias remains consistent between the strategy, study and broker. This actually turned out to be kind of a job since it interfered with another project goal to synchronize the entry and exits between the strategy and study scripts. The script execution engines are different between the Pine strategy and study. While the primary chart interval is quite manageable the higher time frame requires the security() function. TradingViewʼs higher time frame implementation, which interleaves the chart interval, combined with the critical “lookahead” parameter makes the solution necessarily complex. According the wiki regarding this issue, best practice comes down to the following two methods:
1. a = security(syminfo.tickerid, 'D', close , lookahead=barmerge.lookahead_on)
2. indexHighTF = barstate.isrealtime ? 1 : 0
indexCurrTF = barstate.isrealtime ? 0 : 1
a0 = security(syminfo.tickerid, 'D', close ,lookahead=barmerge.lookahead_off)
a = a0
This script employs method 2 with the only problem being the Pine sar() function which does not expose its internal bar series. The best work around would require hand coding the parabolic but the script is at the maximum local scopes and run-time duration so that option is not viable. So far, this hasn't proven to be much of a problem. I'm currently running several symbols, forex and crypto, the strategy and study remain highly correlated with no instances of completely opposite real-time signals. However, I have received some alerts with no corresponding plot on the chart but so far it only occurred on one symbol. I will continue to monitor this problem.
The Bottom Line. Does this script repaint. Yes, it will repaint about as much as every other multi-interval script which employs the best practice solutions available in the Pine Language.
Usage
Please be aware that the purpose of the study script is to perform forward testing of the configuration established in the backtest process. Therefore, the usage here in the study begins with the backtest configuration parameters. The following steps provide instructions to get this study script connected to the TradingView alert notification system. For a detailed description of how to create a trend following system using this script please see the strategy version.
Step 1. Create a chart with the trading instrument and interval used in the backtest.
Step 2. Find this script in the “Invite Only” section of the Indicators Dialog and apply it to the current chart.
Step 3. Copy the values from the backtest input dialog to the study.
Step 4. Open the TradingView Alert window.
Step 5. In the “Condition” drop down field find and select the name of the script.
Step 6. A new drop down field will appear with the alerts available in the script. This script exposes the following eight signals:
-- Long Entry Signal
-- Long Profit Signal
-- Long Stop-loss Signal
-- Long Pyramid
-- Short Entry Signal
-- Short Profit Signal
-- Short Stop-loss Signal
-- Short Pyramid
Select the signal for which you want notification.
Step 7. In the “Options” field select the frequency of the alert. Typically, "Once Per Bar" or "Once Per Bar Close" will be sufficient.
Step 8. Set the expiration date and time.
Step 9. Select the action of the alert. Currently TradingView offers six different actions:
-- Notify on App
-- Show Popup
-- Send Email
-- Webhook URL
-- Play Sound
-- Send Email to SMS
Step 10. Create a message to to transmitted with the alert. The script provides a default message which can be overridden with any custom description. The price, time and other reserved chart elements can be included in the message
Step 11. Click the “Create” button to generate this single alert.
Step 12. Repeat steps 1 through 11 for every signal you wish to receive.
This script is open for beta testing. After successful beta test it will become a commercial application available by subscription only. I’ve invested quite a lot of time and effort into making this the best possible signal generator for all of the instruments I intend to trade. I certainly welcome any suggestions for improvements. Thank you all in advance.
Full Range Trading Study with Alerts and DCA
Introduction
This is the study version of my range trading strategy. It is designed to be a “drop in” replacement for its twin strategy. I have replicated the analysis logic and entry and exit procedures to produce a nearly identical result set to the strategy. Other than the properties tab, the inputs dialog is exactly the same. Backtest the strategy to determine the best inputs to trade. Then apply the same inputs to this study to forward test. Alerts are available for trade entry, take profit close and stop-loss exit. Please see the strategy version for a complete description of the trading behavior of this script.
In brief, this script is intended to benefit from a range bound market. The trading behavior is to buy on weakness and sell on strength. As such trade orders are placed in a counter direction to price pressure. What you will see on the chart is a short position on peaks and a long position on valleys. This is accomplished by calculating pivot points from the price stream. Rising pivots are shorts and falling pivots are longs. I refer to pivots as a vertex in the inputs dialog box. The cone based measurement adds a peak, sides and a base to the calculation elements. This allows the inputs to focus on adjusting the location of trades and not just trend lines. The pivot points can be plotted on the backtest. You can use the vertex input values to move the pivots where you want trades to be. This script can be traded in four different modes: Long, Short, BiDir, and Ping Pong. When trading in “Ping Pong” mode long and short positions are intermingled continuously as long as there exists a detectable vertex. I also have a trend following version of this script for those not interested in trading the range.
This script employs a DCA feature which enables users to experiment with loss recovery techniques in the backtest. Here in the study the summary report displays the “Debt Sequence” number which can be used to manually increase the order size on subsequent trades at the broker. The script keeps track of debt incurred from losing trades. When the debt is recovered the “Debt Sequence” resets to zero so orders can return to the base size. Be sure to set the limiter to prevent your account from depleting capital during runaway markets.
Consecutive loss limit can be set to report a breach of the threshold value. Every stop hit beyond this limit will be reported on a version 4 label above the bar where the stop is hit. Use the consecutive loss limit to manually halt live trading on the broker side.
Design
This script uses twelve indicators on a single time frame and is approximately 1800 lines of Pine 4 code. The original trading algorithms are a port from a much larger program on another trading platform. I’ve converted some of the statistical functions to use standard indicators available on TradingView. The setups make heavy use of the Hull Moving Average in conjunction with EMAs that form the Bill Williams Alligator as described in his book “New Trading Dimensions” Chapter 3. Lag between the Hull and the EMAs form the basis of the entry and exit points. The vertices are calculated using one of five featured indicators: Volume, Histogram, Fractal, Candle and Macro. The backtest is used to determine the best fit for your desired trading instrument. The incorporation of five distinct pivot point calculations broadens the scope of the markets where this tool can be beneficial.
Example configurations for various instruments along with a detailed PDF user manual is available.
Indicator Repainting
Please see the strategy script for a more detailed description of the repaint problem. The goal of my repaint prevention in the study script is simply to ensure that my signal trading bias remains consistent between the strategy, study and broker. This script employs the following conventions in effort to avoid indicator repainting:
1. This script uses only 1 time frame. The chart interval.
2. Every entry and exit condition is evaluated on closed bars only.
3. Entry and exit plots are not triggered off trend line crossovers.
4. No security functions are called to avoid a look-ahead possibility.
5. Every contributing factor specified in the TradingView wiki regarding this issue has been addressed. Except the use of the exponential moving average which is essential to my strategy.
6. I’ve run a 10 minute chart live for a week and compared it to the same chart periodically reloaded. The two charts were highly correlated with no instances of completely opposite real-time signals
This script does indeed bring up the TradingView warning dialog. The only reason for this is due to “peculiarities of the algorithm” regarding the EMA as stated in the wiki article.
The Bottom Line. Does this script repaint. Yes, it will repaint about as much as every other trading platform which combines backtest data with real time prices in a live trading scenario.
Usage
Please be aware that the purpose of the study script is to perform forward testing of the configuration established in the backtest process. Therefore, the usage here in the study begins with the backtest configuration parameters. The following steps provide instructions to get this study script connected to the TradingView alert notification system. For a detailed description of how to create a range trading system using this script please see the strategy version.
Step 1. Create a chart with the trading instrument and interval used in the backtest.
Step 2. Find this script in the “Invite Only” section of the Indicators Dialog and apply it to the current chart.
Step 3. Copy the values from the backtest input dialog to the study.
Step 4. Open the TradingView Alert window.
Step 5. In the “Condition” drop down field find and select the name of the script.
Step 6. A new drop down field will appear with the alerts available in the script. This script exposes the following six signals:
Long Entry Signal
Long Profit Signal
Long Stop-loss Signal
Short Entry Signal
Short Profit Signal
Short Stop-loss Signal
Select the signal for which you want notification.
Step 7. In the “Options” field select the frequency of the alert. Typically, "Once Per Bar" or "Once Per Bar Close" will be sufficient.
Step 8. Set the expiration date and time.
Step 9. Select the action of the alert. Currently TradingView offers six different actions:
Notify on App
Show Popup
Send Email
Webhook URL
Play Sound
Send Email to SMS
Step 10. Create a message to to transmitted with the alert. The script provides a default message which can be overridden with any custom description. The price, time and other reserved chart elements can be included in the message
Step 11. Click the “Create” button to generate this single alert.
Step 12. Repeat steps 1 through 11 for every signal you wish to receive.
This script is open for beta testing. After successful beta test it will become a commercial application available by subscription only. I’ve invested quite a lot of time and effort into making this the best possible signal generator for all of the instruments I intend to trade. I certainly welcome any suggestions for improvements. Thank you all in advance.
Intraday Support and ResistanceDisplay daily preferred trading and display support and resistance (modified) which is calculate using daily pivots
intraday trading perioddisplay the intraday trading period (08:30 - 15:00) on chart with high transparent white background.
you can edit the time period by yourself in the pine editor mode.
GainzyPoo 45m Intraday LRAIC IndicatorIntraday indicator based off a simple moving average/momentum indicator, works best on lower time frames such as 45m. Last version got reported by some LARP. Backtesting works very well as Long Only script.
Magick TrinitySimple, accurate, profitable buy/sell signals.
Works on all timeframes and assets, no repainting (stays after candle close), configurable signal strengths.
Trial available.
Gap Up and Gap DownIdentify gap ups and downs by percentage and amount.
Set alerts for:
Gap up/down by %
Gap up/down by $
EMA-50H-50L-15CThank you @rachitpjain for sharing this simple yet effective strategy on open platform( Twitter ).
For detail reading about strategy refer tweets of @rachitpjain where he timely posts charts using this strategy.
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**EMA-50H-50L-15C Script V1
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This script will be helpful to identify trade based on strategy shared by @rachitpjain.
Here are salient features of this script :
-Apply Three EMAs using single indicator (50H-50L-15C)
-When 15C crosses 50H - EMA Band will be filled with green color and only BUY trades should be taken
-When 15C crosses 50L - EMA Band will be filled with red color and only SELL trades should be taken
-When 15C in between 50H - 50L Band will be filled with white color and Trading should be avoided
*Strategy works best in trending market using any instrument. Results will vary with change in time frame
**Apply Basic TA like horizontal support, resistance, Higher High, Higher Low, Lower Low and Lower High price structure will increase success rate of this strategy
*** Script is kept protected mode and don't ask for codes.
(I think it's easy to code and by coding yourself, you will learn so many aspect of trading which you might missed)
Any MA bands (TMA bands V2)Hi everyone
Website will be opening very shortly :) Sorting out the last details and we're so excited to finally roll-out our different Algorithm Builders for you guys
Forewords
This present script is an evolution of the TMA bands . I would never have expected that script to become so popular to be honest
This is not only a study or idea but a really proven method and I'm glad that many of you are using it already. But please, whenever you see a new script out there, even if it looks cool and promising, please test it on a demo account for a week or on a LIVE account but with tiny amounts every time.
Many times, what you see on the chart is not what will happen in reality. I know that most of you will agree and I know exactly why we see this behavior... I'll give more details in a later post
I have plenty of methods like that one and I'll detail them on my website (and a bit on TradingView) starting next month
TMA bands on steroids
Someone asked me privately to make a generic version of the TMA bands and make it compatible with other standards Moving Average types. That's it for the specifications really as I didn't do much than re-using some piece of my own code
Suggested (but not mandatory) methodology
1) The Take Profit 1 is the middle line, Take Profit 2 is the opposite band.
2) Once the TP1 is hit, set your Stop Loss to breakeven
3) Once the TP2 is hit, if you still want to stay in the trade, set your Stop Loss to the TP1
It will be a powerful tool in your arsenal for some scalp/intraday trades
Wishing you all of you a great and profitable day
PS
It's strictly forbidden to republish this script without my explicit approval. All my posts are copyrighted from now on
Obviously you can use but not republish and get the credit or even worse... some money from your own clients
Dave
____________________________________________________________
Be sure to hit the thumbs up. Building those indicators take a lot of time and likes are always rewarding for me :) (tips are accepted too)
- If you want to suggest some indicators that I can develop and share with the community, please use my personal TRELLO board
- I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies
Jump on a 1 to 1 coaching with me
- You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python
Disclaimer:
Trading involves a high level of financial risk, and may not be appropriate because you may experience losses greater than your deposit. Leverage can be against you.
Do not trade with capital that you can not afford to lose. You must be aware and have a complete understanding of all the risks associated with the market and trading. We can not be held responsible for any loss you incur.
Trading also involves risks of gambling addiction.
Please notice I do not provide financial advice - my indicators, strategies, educational ideas are intended to provide only some source code for anyone interested in improving their trading
The proprietary indicators and strategies developed by Best Trading Indicator, the object of intellectual property rights are and remain the exclusive property of Best Trading Indicator, at the exclusion of images and videos and texts free of rights or provided by the Company or external legal or physical person.
No assignment of intellectual property rights is carried out through these Terms and Conditions.
Any total or partial reproduction, modification or use of these properties for any reason whatsoever is strictly prohibited without the express written authorization of the Company.
CVWAP/PVWAPFirst of all thanks to concept owner @sanstocktrader (Twitter Handle) for sharing this on public platform.
Those who don't know how to trade this strategy can get an idea by studying about it from Pinned Tweet of @vwaptraders.
Thanks to below mentioned Twitter Handles for helping newbies to learn and earn using this strategy.
@CAtLarge
@ankurm84
@blisstrades
Telegram support channels for this strategy are as mention below :
1) vwaptraders
2) blisstrades
**Checkout Telegram/Twitter history msgs for learning to avoid repetitive queries.
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**CVWAP/PVWAP Script V1
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This script will be helpful up to certain extent to identify trade based on strategy shared above.
Here are salient features of this script :
-Plot current day VWAP=CVWAP
-Plot previous day EoD VWAP=PVWAP
-Transparent Blue background suggests to take only BUY side trade (Close > CVWAP and PVWAP)
-Transparent Red background suggest to take only SELL side trade (Close < CVWAP and PVWAP)
** Script is kept protected mode and don't ask for codes
(I think it's easy to code and by coding yourself, you will learn so many aspect of trading which you might missed)
Triangular Moving Average (TMA) bandsWhat in the world is up folks ??!??
Here's the indicator of the day. Sharing a simple one today because I'm busy coding for a few clients (fun life of a top script author on TradingView)
The TMA bands is an indicator that I discovered on FXCM a few years ago FXCM TMA bands
From the screenshot above, we see that when the price hits the lower band, it's a possible reverse BUY signal. When it hits the upper band, it's a possible SELL signal
Methodology
1) The Take Profit 1 is the middle line, Take Profit 2 is the opposite band.
2) Once the TP1 is hit, set your Stop Loss to breakeven
3) Once the TP2 is hit, if you still want to stay in the trade, set your Stop Loss to the TP1
That's what we call a trailing stop loss which I offered in the Trade Manager : Trade-Manager-Open-Source-Version/
It will be a powerful tool in your arsenal for some scalp/intraday trades
After years of coding for traders, I worked with many brokers/API/languages so I'm very used to convert a script from a broker to another one (shameless self-advertising)
PS
Tomorrow I'll share the Signal version of my Algorithm Builder:
You'll be able to connect it in a single click to a very cool Backtest System made by the Pinescripters community
In other words, I'm selling the scripts to allow you to build your own signals in a few clicks AND to connect it easily to a kick-ass backtesting tool. More to come tomorrow
Hope you'll like it, like me, love it, love me, tip me :)
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Feel free to hit the thumbs up as it shows me that I'm not doing this for nothing and will motivate to deliver more quality content in the future. (Meaning... a few likes only = no indicators = Dave enjoying the beach)
- I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies
Jump on a 1 to 1 coaching with me
- You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python
Pivot LevelsThis indicator automatically plots 3 important "Pivot Levels" to watch when day trading.
This simple but effective tool plots out important levels from the prior trading day, and updates every day. I noticed that significant levels such as the close, the high, and the low from the prior day often serve as important support/resistance levels in the future.
The previous day high is displayed as the green line, the close is displayed as the white line, and the low is plotted as the red line.
Enjoy!
Custom Anchored VWAP Offset V2This is the anchored VWAP with offset option which can be used on any timeframe, including intraday.
Intraday System V.3This indicator good for Intraday. It'll give signal through colours. Go long when green colour appears and go short when red colour appear.
Take a trade on candle high above (long) and low below (short). I've made few modification from Mr.Johnman scripts for Better results for Indian traders. Thanks to him.
For Target and stop loss ;
Open Renko chart from your broker trading platform and find the Renko bar settings, here you'll find "Set Range". Those value will be your SL & Target.
Make sure take a trade above / below candle once colours appears.
With Regard's
Kaliyamoorthi
Just Believe Trading Community.