Summary: The "Gap Trend Lines" script is designed to identify and visualize gaps between the close of one candle and the opening of the next on a TradingView chart. It draws extended trend lines to visually connect these gaps, helping traders to identify significant price movements between consecutive candles. Functionality: Indicator Setup: The script is set as...
Overview This indicator helps visualize the Volume Weighted Average Price (VWAP) and its associated standard deviation bands over specified time periods, providing traders with a clear understanding of price trends, volatility, and potential support/resistance levels. Inputs Deviation StDev mult 1: Multiplier for the first standard deviation band...
Overview This indicator utilizes the Directional Movement Index (DMI) combined with a for-loop to provide a robust trend analysis (ADX is not a part of this indicator). Settings DMI ForLoop Settings: Start Length (a): The initial length for DMI calculation (inclusive). End Length (b): The final length for DMI calculation (inclusive). EMA Length (c): ...
Overview: This strategy combines the Commodity Channel Index (CCI) and the Moving Average Convergence Divergence (MACD) indicators to automate trading decisions. It dynamically sets stop-loss and take-profit levels based on recent lows and highs, ensuring a risk/reward ratio of 1:1.5. This script aims to leverage trend and momentum signals while maintaining...
Overview The Capitulation Candle for Bitcoin and Crypto script identifies potential capitulation events in the cryptocurrency market. Capitulation candles indicate a significant sell-off, often marking a potential market bottom. This script highlights such candles by analyzing volume, price action, and other technical conditions. Below is a detailed presentation...
🔵 Introduction 🟣 ACD Method "The Logical Trader" opens with a thorough exploration of the ACD Methodology, which focuses on pinpointing particular price levels associated with the opening range. This approach enables traders to establish reference points for their trades, using "A" and "C" points as entry markers. Additionally, the book covers the concept of...
📊 The Foundation: Core Parameters and Inputs Filter Number: This parameter is the cornerstone of the script’s sensitivity control. It adjusts the threshold for market volatility that the script considers significant enough for a trade. By default, it's set to 1.5, striking a balance between aggressiveness and conservatism. Traders can tweak this number to make the...
### Golden Area Indicator Description The "Golden Area" indicator is a technical analysis tool designed to assist traders by identifying potential buy and sell signals based on moving averages and support/resistance levels within a specific time frame. This indicator can be applied directly to price charts. #### How It Works 1. **Inputs:** - **MA50 Length:**...
The Wolfe Wave Detector displays occurrences of Wolfe Waves, alongside a target line. A multiple swing detection approach is used to maximize the number of detected waves. The indicator includes a dashboard with the number of detected waves, as well as the number of reached targets. 🔶 USAGE The Wolfe Wave pattern is a chart pattern composed of five...
# Custom Trading System Indicator This Pine Script indicator is designed to identify potential trading setups based on a specific set of rules. It's intended for use on lower timeframes (M1-M5) in the forex market, particularly during the New York-London overlap period. ## Key Features 1. **EMA Condition**: Uses a 20-period Exponential Moving Average (EMA) to...
Glitch Index is an oscillator from an unknown origin that is discovered in 2013 as a lua indicator taken from MetaStock days and we are not really sure how far back the original idea goes. How it Works? As I found this indicator and looking at it's code in different platform I can see it comes back from a basic idea of getting a price value, calculating it's...
Description: The Average Open-to-X Analysis (OHA) indicator provides a comprehensive look at the average price differences between the opening price and the subsequent high, low, and closing prices over a specified lookback period. This allows traders to quickly assess average price movements relative to the open, offering insights into potential volatility and...
Overview This strategy is designed to identify key supply (resistance) and demand (support) zones on a price chart. These zones represent areas where the price has historically shown a significant reaction, either bouncing up from a demand zone or dropping down from a supply zone. The strategy provides clear entry and exit points for trades based on these...
Description The "Enhanced Market Influence Dashboard" (EMID) is a sophisticated trading indicator developed in Pine Script, designed to provide traders with a comprehensive view of the market's influences by analyzing a diverse set of financial instruments. This script integrates various market data, calculates dynamic weights based on volatility, and combines...
-- Overview The "CE_ZLSMA_5MIN_CANDLECHART" strategy, developed by DailyPanda, is a comprehensive trading strategy designed for analyzing trading on 5-minute candlestick charts. It aims to use some indicators calculated from a Hekin Ashi chart, while running it on a normal candlestick chart, making sure that no price distortion affects the strategy results...
Fetch Previous Day's Data: Uses request.security to get the previous day's high, low, and close prices. lookahead=barmerge.lookahead_on ensures the data fetched is fixed for the current session. Calculate CPR Levels: Pivot: Average of the previous day's high, low, and close. Bottom Central Pivot (BC): Average of the previous day's high and low. Top Central Pivot...
Regime Filter II - Comprehensive Guide Introduction The "Regime Filter II " indicator is a tool designed to help traders identify market trends by smoothing price data and applying a color scheme to visualize bullish and bearish conditions. This guide provides a detailed explanation of the script's functionality, benefits, and how to use it effectively in...
The "ICT Balance Price Range " indicator identifies and visualizes potential balance price ranges (BPRs) on a price chart. These ranges are indicative of periods where the market exhibits balance between bullish and bearish forces, often preceding significant price movements. 🔶 What is Balanced Price Range (BPR) ? Balanced Price Range is a concept based on...