WD Gann: Close Price X Bars Ago with Line or Candle PlotThis indicator is inspired by the principles of WD Gann, a legendary trader known for his groundbreaking methods in time and price analysis. It helps traders track the close price of a security from X bars ago, a technique that is often used to identify key price levels in relation to past price movements. This concept is essential for Gann’s market theories, which emphasize the relationship between time and price.
WD Gann’s analysis often revolved around specific numbers that he considered significant, many of which correspond to squared numbers (e.g., 1, 4, 9, 16, 25, 36, 49, 64, 81, 100, 121, 144, 169, 196, 225, 256, 289, 324, 361, 400, 441, 484, 529, 576, 625, 676, 729, 784, 841, 900, 961, 1024, 1089, 1156, 1225, 1296, 1369, 1444, 1521, 1600, 1681, 1764, 1849, 1936). These numbers are believed to represent natural rhythms and cycles in the market. This indicator can help you explore how past price levels align with these significant numbers, potentially revealing key price zones that could act as support, resistance, or reversal points.
Key Features:
- Historical Close Price Calculation: The indicator calculates and displays the close price of a security from X bars ago (where X is customizable). This method aligns with Gann's focus on price relationships over specific time intervals, providing traders with valuable reference points to assess market conditions.
- Customizable Plot Type: You can choose between two plot types for visualizing the historical close price:
- Line Plot: A simple line that represents the close price from X bars ago, ideal for those who prefer a clean and continuous representation.
- Candle Plot: Displays the close price as a candlestick chart, providing a more detailed view with open, high, low, and close prices from X bars ago.
- Candle Color Coding: For the candle plot type, the script color-codes the candles. Green candles appear when the close price from X bars ago is higher than the open price, indicating bullish sentiment; red candles appear when the close is lower, indicating bearish sentiment. This color coding gives a quick visual cue to market sentiment.
- Customizable Number of Bars: You can adjust the number of bars (X) to look back, providing flexibility for analyzing different timeframes. Whether you're conducting short-term or long-term analysis, this input can be fine-tuned to suit your trading strategy.
- Gann Method Application: WD Gann's methods involved analyzing price action over specific time periods to predict future movements. This indicator offers traders a way to assess how the price of a security has behaved in the past in relation to a chosen time interval, a critical concept in Gann's theories.
How to Use:
1. Input Settings:
- Number of Bars (X): Choose the number of bars to look back (e.g., 100, 200, or any custom period).
- Plot Type: Select whether to display the data as a Line or Candles.
2. Interpretation:
- Using the Line plot, observe how the close price from X bars ago compares to the current market price.
- Using the Candles plot, analyze the full price action of the chosen bar from X bars ago, noting how the close price relates to the open, high, and low of that bar.
3. Gann Analysis: Integrate this indicator into your broader Gann-based analysis. By looking at past price levels and their relationship to significant squared numbers, traders can uncover potential key levels of support and resistance or even potential reversal points. The historical close price can act as a benchmark for predicting future market movements.
Suggestions on WD Gann's Emphasis in Trading:
WD Gann’s trading methods were rooted in several key principles that emphasized the relationship between time and price. These principles are vital to understanding how the "Close Price X Bars Ago" indicator fits into his overall analysis:
1. Time Cycles: Gann believed that markets move in cyclical patterns. By studying price levels from specific time intervals, traders can spot these cycles and predict future market behavior. This indicator allows you to see how the close price from X bars ago relates to current market conditions, helping to spot cyclical highs and lows.
2. Price and Time Squaring: A core concept in Gann’s theory is that certain price levels and time periods align, often marking significant reversal points. The squared numbers (e.g., 1, 4, 9, 16, 25, etc.) serve as potential key levels where price and time might "square" to create support or resistance. This indicator helps traders spot these historical price levels and their potential relevance to future price action.
3. Geometric Angles: Gann used angles (like the 45-degree angle) to predict market movements, with the belief that prices move at specific geometric angles over time. This indicator gives traders a reference for past price levels, which could align with key angles, helping traders predict future price movement based on Gann's geometry.
4. Numerology and Key Intervals: Gann paid particular attention to numbers that held significance, including squared numbers and numbers related to the Fibonacci sequence. This indicator allows traders to analyze price levels based on these key numbers, which can help in identifying potential turning points in the market.
5. Support and Resistance Levels: Gann’s methods often involved identifying levels of support and resistance based on past price action. By tracking the close price from X bars ago, traders can identify past support and resistance levels that may become significant again in future market conditions.
Perfect for:
Traders using WD Gann’s methods, such as Gann angles, time cycles, and price theory.
Analysts who focus on historical price levels to predict future price action.
Those who rely on numerology and geometric principles in their trading strategies.
By integrating this indicator into your trading strategy, you gain a powerful tool for analyzing market cycles and price movements in relation to key time intervals. The ability to track and compare the historical close price to significant numbers—like Gann’s squared numbers—can provide valuable insights into potential support, resistance, and reversal points.
Disclaimer:
This indicator is based on the methods and principles of WD Gann and is for educational purposes only. It is not intended as financial advice. Trading involves significant risk, and you should not trade with money that you cannot afford to lose. Past performance is not indicative of future results. The use of this indicator is at your own discretion and risk. Always do your own research and consider consulting a licensed financial advisor before making any investment decisions.
Priceanalysis
Normal Price Indicator by KirillPOHEnglish:
Normal Price Indicator is a technical indicator designed to analyze market prices and find normal price levels, as well as the upper and lower boundaries of the normal price area for a given period of time. The indicator is designed for traders and analysts who want to track price movements and identify potential levels for buying or selling based on statistical calculations.
This indicator calculates three main lines:
- The Normal price (Median Price) — the line showing the median of prices for the selected period.
- Upper Bound — a line located at a certain distance from the normal price, based on the standard deviation.
- Lower Bound — a line also located based on the standard deviation from the normal price.
In addition, the indicator can highlight areas on the chart when the price goes beyond these boundaries, which can be a signal to traders about possible important levels.
Main Features:
- Normal price: It is calculated as the median of prices for a given period of time, which helps to track the typical price value on the chart.
- Upper and lower bounds: These limits are calculated as the average price ± (multiplier * standard deviation), which allows you to take into account market fluctuations and set a price range in which the price is considered "normal".
- Adaptation to the scale of the graph: The lines of the indicator adjust correctly to changes in the scale of the chart, while maintaining a link to price levels. They are always displayed in the current position, no matter how much you increase or decrease the graph.
- Zone allocation: The indicator also allows you to highlight areas on the chart where the price is above the upper limit or below the lower limit, which may signal unusual market conditions.
How to use the indicator:
1. The normal price (Median Price): This is the main line of the indicator, which shows the central price level on the chart for the selected period. It helps traders keep track of the standard market level and determine if the current price is within that range.
2. Upper and lower borders: These lines are used to identify potential deviations from the normal price zone. If the closing price turns out to be above the upper limit or below the lower one, this may indicate strong market movements or potential reversals. For example:
- The price above the upper limit may signal a strong bullish trend.
- The price below the lower limit may indicate a bearish trend or a strong correction.
3. Areas on the graph: The indicator highlights the background when the price is above the upper limit (the area is colored green) or below the lower limit (the area is colored red). These visual cues can help traders quickly identify deviations.
Settings :
- Period: The period for calculating the median, standard deviation, and upper/lower bounds. It is usually set to 14, but can be changed depending on the user's needs.
is the multiplier for the standard deviation: This parameter allows you to adjust how much the upper and lower limits will deviate from the normal price. The standard value is 2, which corresponds to two standard deviations, but can be adjusted to suit your needs.
Application:
Traders can use the indicator to analyze market levels and make decisions about entering or exiting the market. Analysts can use the indicator to identify normal price ranges and deviations, which allows them to more accurately predict market trends and potential pivot points.
This indicator is not a signal for trading, but rather a tool for analyzing the market and price levels. It should be used in combination with other indicators and analysis methods for more accurate trading decisions.
Russia:
Normal Price Indicator — это технический индикатор, предназначенный для анализа рыночных цен и нахождения нормальных ценовых уровней, а также верхних и нижних границ нормальной ценовой области за заданный период времени. Индикатор предназначен для трейдеров и аналитиков, которые хотят отслеживать ценовые движения и выявлять потенциальные уровни для покупки или продажи, основываясь на статистических расчетах.
Этот индикатор рассчитывает три основные линии:
- Нормальная цена (Median Price) — линия, отображающая медиану цен за выбранный период.
- Верхняя граница (Upper Bound) — линия, находящаяся на определённом расстоянии от нормальной цены, основанная на стандартном отклонении.
- Нижняя граница (Lower Bound) — линия, также расположенная на основе стандартного отклонения от нормальной цены.
Кроме того, индикатор может выделять области на графике, когда цена выходит за пределы этих границ, что может быть сигналом для трейдеров о возможных важных уровнях.
Основные особенности:
- Нормальная цена: Вычисляется как медиана цен за заданный период времени, что помогает отследить типичное значение цены на графике.
- Верхняя и нижняя границы: Эти границы рассчитываются как средняя цена ± (множитель * стандартное отклонение), что позволяет учитывать рыночные колебания и задавать диапазон цен, в котором цена считается "нормальной".
- Адаптация под масштаб графика: Линии индикатора корректно подстраиваются под изменения масштаба графика, сохраняя привязку к уровням цен. Они всегда отображаются в актуальном положении, независимо от того, насколько вы увеличиваете или уменьшаете график.
- Выделение зон: Индикатор также позволяет выделять области на графике, где цена находится выше верхней границы или ниже нижней границы, что может сигнализировать о необычных рыночных условиях.
Как использовать индикатор:
1. Нормальная цена (Median Price): Это основная линия индикатора, которая показывает центральный уровень цен на графике за выбранный период. Она помогает трейдерам отслеживать стандартный рыночный уровень и определять, находится ли текущая цена в пределах этого диапазона.
2. Верхняя и нижняя границы: Эти линии используются для выявления потенциальных отклонений от нормальной ценовой зоны. Если цена закрытия оказывается выше верхней границы или ниже нижней, это может свидетельствовать о сильных движениях на рынке или потенциальных разворотах. Например:
- Цена выше верхней границы может сигнализировать о сильном бычьем тренде.
- Цена ниже нижней границы может указывать на медвежий тренд или сильную коррекцию.
3. Области на графике: Индикатор выделяет фон, когда цена находится выше верхней границы (область окрашивается в зелёный) или ниже нижней границы (область окрашивается в красный). Эти визуальные подсказки могут помочь трейдерам быстро выявить отклонения.
Параметры настройки :
- Период: Период для расчета медианы, стандартного отклонения и верхних/нижних границ. Обычно устанавливается на 14, но может быть изменён в зависимости от потребностей пользователя.
- Множитель для стандартного отклонения: Этот параметр позволяет настроить, насколько сильно будут отступать верхняя и нижняя границы от нормальной цены. Стандартное значение — 2, что соответствует двум стандартным отклонениям, но можно настроить под свои нужды.
Применение:
Трейдеры могут использовать индикатор для анализа рыночных уровней и принятия решений о входе или выходе на рынок. Аналитики могут использовать индикатор для выявления нормальных диапазонов цен и отклонений, что позволяет более точно прогнозировать рыночные тренды и потенциальные точки разворота.
Этот индикатор не является сигналом для торговли, а скорее инструментом для анализа рынка и ценовых уровней. Его стоит использовать в комплексе с другими индикаторами и методами анализа для более точных торговых решений.
Similar Price ActionDescription:
The indicator tries to find an area of N candles in history that has the most similar price action to the latest N candles. The maximum search distance is limited to 5000 candles. It works by calculating a coefficient for each candle and comparing it with the coefficient of the latest candle, thus searching for two closest values. The indicator highlights the latest N candles, as well as the most similar area found in the past, and also tries to predict future price based on the latest price and price directly after the most similar area that was found in the past.
Inputs:
- Length -> the area we are searching for is comprised of this many candles
- Lookback -> maximum distance in which a similar area can be found
- Function -> the function used to compare latest and past prices
Notes:
- The indicator is intended to work on smaller timeframes where the overall price difference is not very high, but can be used on any
Persistent Homology Based Trend Strength OscillatorPersistent Homology Based Trend Strength Oscillator
The Persistent Homology Based Trend Strength Oscillator is a unique and powerful tool designed to measure the persistence of market trends over a specified rolling window. By applying the principles of persistent homology, this indicator provides traders with valuable insights into the strength and stability of uptrends and downtrends, helping to inform better trading decisions.
What Makes This Indicator Original?
This indicator's originality lies in its application of persistent homology , a method from topological data analysis, to financial markets. Persistent homology examines the shape and features of data across multiple scales, identifying patterns that persist as the scale changes. By adapting this concept, the oscillator tracks the persistence of uptrends and downtrends in price data, offering a novel approach to trend analysis.
Concepts Underlying the Calculations:
Persistent Homology: This method identifies features such as clusters, holes, and voids that persist as the scale changes. In the context of this indicator, it tracks the duration and stability of price trends.
Rolling Window Analysis: The oscillator uses a specified window size to calculate the average length of uptrends and downtrends, providing a dynamic view of trend persistence over time.
Threshold-Based Trend Identification: It differentiates between uptrends and downtrends based on specified thresholds for price changes, ensuring precision in trend detection.
How It Works:
The oscillator monitors consecutive changes in closing prices to identify uptrends and downtrends.
An uptrend is detected when the closing price increase exceeds a specified positive threshold.
A downtrend is detected when the closing price decrease exceeds a specified negative threshold.
The lengths of these trends are recorded and averaged over the chosen window size.
The Trend Persistence Index is calculated as the difference between the average uptrend length and the average downtrend length, providing a measure of trend persistence.
How Traders Can Use It:
Identify Trend Strength: The Trend Persistence Index offers a clear measure of the strength and stability of uptrends and downtrends. A higher value indicates stronger and more persistent uptrends, while a lower value suggests stronger and more persistent downtrends.
Spot Trend Reversals: Significant shifts in the Trend Persistence Index can signal potential trend reversals. For instance, a transition from positive to negative values might indicate a shift from an uptrend to a downtrend.
Confirm Trends: Use the Trend Persistence Index alongside other technical indicators to confirm the strength and duration of trends, enhancing the accuracy of your trading signals.
Manage Risk: Understanding trend persistence can help traders manage risk by identifying periods of high trend stability versus periods of potential volatility. This can be crucial for timing entries and exits.
Example Usage:
Default Settings: Start with the default settings to get a feel for the oscillator’s behavior. Observe how the Trend Persistence Index reacts to different market conditions.
Adjust Thresholds: Fine-tune the positive and negative thresholds based on the asset's volatility to improve trend detection accuracy.
Combine with Other Indicators: Use the Persistent Homology Based Trend Strength Oscillator in conjunction with other technical indicators such as moving averages, RSI, or MACD for a comprehensive analysis.
Backtesting: Conduct backtesting to see how the oscillator would have performed in past market conditions, helping you to refine your trading strategy.
% Price change (by OP)To visually evaluate the percentage change in price over any time period
This handsome indicator shows exact % price change at each candle by displaying a circle at the level of the change. To read numerical value, point at the circle of the relevant bar corresponding to the candle you are interested in, and look at the scale.
BankNifty Multi-TimeFrames Price Panel [MaestroTrader]█ OVERVIEW
Price Panel provides Nifty /BankNifty Index comprehensive Price Insights on different time intervals. It helps to determine the trend of Index using top Index Heavy Weights along with Dow, India VIX & Index Spot Prices. It helps to determine the price behavior of the underlying Index/stock to make informed decisions while trading.
█ FEATURES
a) Displays Price in Multi Time Frames for Multi time frame analysis
b) Displays Weighted Securities price for Weighted INDEX price analysis.
c) Displays INDIA VIX and DOW for Combined INDIX VOLATALITY Analysis
█ MUTLI TIME FRAME ANALYSIS
How to use Multiple time frame analysis?
Multiple time frame analysis follows a top-down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame. Traders can then conduct technical analysis using multiple time frames to confirm or reject their trading bias.
Multiple time frame analysis, is the process of viewing the same symbols under different time frames. Usually, the larger time frame is used to establish a longer-term trend, while a shorter time frame is used to spot ideal entries into the market.
Let’s Say 75 & 15 TF’s Trend is up, then shorter time 5M is used to spot ideal entries on long side.
█ WEIGHTED INDEXS PRICE ANALYSIS
How to use Weighted Index Price Movement in Multi timeframes?
The index future trading price is based on the trading prices of the individual securities (stocks) that comprise the index basket. In other words, the stocks with higher weights will have more impact on the movement of the index. Price Panel provides the insights of these heavy weight stock price movement in different time frames, that can help you confirm or reject your trading bias.
HDFC Bank (28% Weight) will have more impact on the BankNifty Movement. By looking the top 4 bank's price movement in different timeframes, you can derive the BankNifty price trend.
█ VOLATALITY ANALYSIS
India VIX is a short form for India Volatility Index. It is the volatility index that measures the market’s expectation of volatility over the near term.
A lower VIX level usually implies that the market is confident about the movement and is expecting lower volatility and a stable range.
A higher VIX level usually signals high volatility and lower trader confidence about the current range of the market. A major directional move can be expected in the market and a quick broadening of range can be expected.
█ SETTINGS
• Time Frame Settings: Configure Time Frames 5 Min, 15 Min, 75 Min
• Table Settings: Configure Table Styles- Position- Font Color
• Symbol Settings: Configure Securities. Toggle (on/Off) Securities display.
• Index Settings: Display Bank Nifty or Nifty Heavy Weights.
█ PANEL DISPLAY VARIATIONS
BANK NIFTY VIEW
NIFTY VIEW
WITHOUT STOCKS - ONLY INDEX, VIX, DOW
█ THANKS
Thanks to Pine Team for this new great feature tables & Thanks to PineCoders for the `f_strRightOf` function.
█ DISCLIAMER
Indicator is built for educational purposes. Test it before use.
Hope - These features help you get quick insights of the price movement to take informed trades.
You are free to use the code, please share the credit for reuse.
Happy Trading !!
