Volume Based Volatility Trail [UAlgo]"Volume Based Volatility Trail ", is designed to identify potential trading opportunities based on volatility and volume analysis. It calculates the Average True Range (ATR) to gauge market volatility and uses a volume-based multiplier to dynamically adjust a trailing stop level. The indicator also incorporates volume analysis to identify high volume periods that might signal potential breakouts.
🔶 Key Features
Volume-Based Volatility Trail: The indicator calculates a trailing stop level based on the ATR, which is then adjusted based on volume. Higher volume periods can lead to a wider trailing stop to account for increased volatility.
Price Source: Users can select the price source (e.g., close, open) for volume calculations.
Customizable Inputs: Users can adjust various parameters like the ATR period, multiplier, smoothing period, volume SMA period, ATR adjustment factor, and colors for buy/sell signals and the trailing stop area.
Buy/Sell Alerts: The indicator generates alerts for potential buy and sell opportunities based on the trailing stop crossing the price.
🔶 Usage
Look for buy signals (▲ marker) when the price crosses above the trailing stop level, potentially indicating a bullish trend.
Conversely, sell signals (▼ marker) appear when the price falls below the trailing stop, suggesting a bearish trend.
The shaded area around the trailing stop represents a buffer zone that might offer some protection against price fluctuations, but it can also indicate areas of potential pullbacks. During volatile periods or after strong price movements, the price might retrace back towards the trailing stop before continuing its trend. This shaded area can help visualize these potential retracement zones.
High volume periods (highlighted by the indicator) can be used in conjunction with other technical analysis to confirm potential breakouts. Analyze these high volume periods alongside price action and other indicators to assess the strength of the breakout and the likelihood of the price continuing its upward move.
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Pullback
RSI Trail [UAlgo]The RSI Trail indicator is a technical analysis tool designed to assist traders in making informed decisions by utilizing the Relative Strength Index (RSI) and various moving average calculations. This indicator dynamically plots support and resistance levels based on RSI values, providing visual cues for potential bullish and bearish signals. The inclusion of a trailing stop mechanism allows traders to adapt to market volatility, ensuring optimal entry and exit points.
🔶 Key Features
Multiple Moving Average Types: Choose from Simple Moving Average (SMA), Exponential Moving Average (EMA), Weighted Moving Average (WMA), Running Moving Average (RMA), and McGinley Dynamic for diverse analytical approaches.
Configurable RSI Bounds: Tailor the RSI lower and upper bounds to your specific trading preferences, with default settings at 40 and 60.
Signals: The indicator determines bullish and bearish market states and plots corresponding signals on the chart.
Customizable Visualization: Options to display the midline and color candles based on market state enhance visual analysis.
Alerts: Integrated alert conditions notify you of bullish and bearish signals.
🔶 Calculations
The RSI Trail indicator calculates dynamic support and resistance levels using a combination of moving averages and the Relative Strength Index (RSI). It starts by computing a chosen moving average (SMA, EMA, WMA, RMA, or McGinley) over a period of 27 using the typical price (ohlc4).
The indicator then defines upper and lower bounds based on customizable RSI levels (default 40 and 60) and adjusts these bounds using the Average True Range (ATR) to account for market volatility. The upper bound is calculated by adding a volatility-adjusted value to the moving average, while the lower bound is found by subtracting this value. Bullish signals occur when the price crosses above the upper bound, and bearish signals when it falls below the lower bound.
The RSI Trail indicator also can be used to identify pullback opportunities. When the price high/low crosses above/below the calculated upper/lower bound, it indicates a potential pullback, suggesting a favorable point to enter a trade during a pullback.
🔶 Disclaimer
This indicator is for informational purposes only and should not be considered financial advice.
Always conduct your own research and due diligence before making any trading decisions. Past performance is not necessarily indicative of future results.
Volume Buyer-Seller [GOODY]This indicator was designed to analyze buying and selling pressure through volume calculations, providing insights into market dynamics. It can be used to determine whether buyers or sellers dominate the market at any given time.
Key Features
1. Volume Calculations: This indicator calculates the volume attributable to buyers and sellers for each bar, then represents it as buying and selling columns on the chart. It also provides the average volume over a specified period for context.
2. Dominance Logic: By comparing the buying and selling volumes, the indicator determines which side (buyers or sellers) has dominance. If the difference between the two is within a specified threshold, the market is considered indecisive.
3. Dominance Marker: Circles or squares appear on the chart to indicate the dominant force, helping traders quickly assess market sentiment. The colors of these markers can be customized.
4. Label Display: The indicator displays a comprehensive label on the chart with information like total volume, buyer/seller percentages, average volume, ratio, and ATR (Average True Range) details. This label can show current or past data depending on user preference.
5. Ratio and Control: A critical component is the ratio, calculated as the proportion of buying volume to selling volume. This ratio is a key indicator of market sentiment, with an appended symbol to denote whether buyers or sellers are in control.
How to Use
• Settings: Adjust the settings to align with your trading strategy. You can modify the length for average volume, ATR, and other parameters to suit your trading style.
• Volume Analysis: Monitor the buying and selling columns to determine market activity. The larger columns indicate higher volume, suggesting a strong buying or selling pressure.
• Dominance: Pay attention to the dominance markers. Green markers indicate buying dominance, while red markers signify selling dominance. If the market is indecisive, the marker will be gray.
• Ratio: A ratio above 1 suggests buying dominance, while a ratio below 1 indicates selling dominance. The ratio's appended color tag helps quickly identify which side is in control.
• Labels: The labels provide a snapshot of key data, including total volume, buyer/seller percentages, average volume, ratio, and ATR. This information is helpful in understanding overall market conditions.
Reading the Indicator
• Buying and Selling Columns: These represent the respective volumes for each side. Positive columns are buying volumes, and negative columns are selling volumes.
• Dominance Circles: A circle appears at the zero baseline to show which side is currently dominant. A blue circle indicates buying dominance, while a red circle indicates selling dominance.
• Ratio with Dominance: The label includes a ratio with a tag showing who is in control. A green tag indicates buyers, and a red tag indicates sellers.
• ATR and Average Volume: The label provides additional context with ATR and average volume, helping you understand volatility and relative volume.
Volume Gauge Addition : Introduced a volume gauge display option to visualize the relative strength of buying vs. selling volumes. Users can toggle this feature on or off according to their analysis needs.
Total Volume
Metric: Displays "Total Vol."
Value: Shows the total trading volume for the current bar, formatted in a human-readable format (K for thousands, M for millions). Additionally, it shows the percentage of this volume relative to the average volume, aiding in understanding volume spikes or drops.
Usage: Compare current volume to historical averages to identify unusual market activity.
Average Volume
Metric: Displays "Avg Vol."
Value: Shows the simple moving average of the volume over a user-defined period, formatted similarly to Total Volume.
Usage: Helps determine if current volume is above or below average, indicating potential interest or disinterest in the asset.
Buyers
Metric: Displays "BUYERS."
Value: Shows the volume of buying calculated from the upward price movements within the bar, along with its percentage of the total volume.
Usage: Spot dominance in buying activity which might suggest bullish conditions.
Sellers
Metric: Displays "SELLERS."
Value: Shows the volume of selling calculated from the downward price movements within the bar, along with its percentage of the total volume.
Usage: Spot dominance in selling activity which might suggest bearish conditions.
Delta
Metric: Displays "Delta."
Value: Shows the difference between buying and selling volumes, providing a quick snapshot of which side of the market is exerting more pressure.
Usage: Use to gauge overall market sentiment and potential price direction.
Ratio
Metric: Displays "Ratio."
Value: Shows the ratio of buying volume to selling volume, providing insight into the relative strength of buyers vs. sellers.
Usage: Ratios significantly above or below 1 can indicate strong market biases.
ATR (Average True Range)
Metric: Displays "ATR."
Value: Shows the current ATR value to gauge volatility, with an arrow indicating the direction of change from the previous bar’s ATR.
Usage: Utilize to assess market volatility and potentially adjust trading strategies or risk management settings.
Dynamic Background Colors
The table employs dynamic background colors for certain metrics to visually represent data intensity or significance:
Total Volume: Changes color based on the percentage relative to the average volume.
Buyers/Sellers: The background color indicates whether buying or selling is dominant.
Delta and Ratio: Colors change based on their calculated values to reflect market conditions quickly.
What is Volume Delta?
Volume delta, also known as volume difference or volume delta divergence, refers to the difference between buying (accumulation) and selling (distribution) volumes within a given time period. It provides a quantitative measure of the net buying or selling pressure in the market.
How to Use Volume Delta:
Identifying Market Sentiment:
Positive delta values indicate that buying volume exceeds selling volume, suggesting bullish sentiment.
Negative delta values indicate that selling volume exceeds buying volume, suggesting bearish sentiment.
Confirming Price Movements:
Volume delta can be used to confirm price movements. For example, if prices are rising and volume delta is positive, it may suggest that the uptrend is supported by strong buying interest.
Conversely, if prices are falling and volume delta is negative, it may suggest that the downtrend is supported by strong selling pressure.
Spotting Divergence:
Divergence between price and volume delta can signal potential trend reversals. For example, if prices are rising but volume delta is declining (or vice versa), it may indicate weakening momentum and a possible reversal in trend.
Confirming Breakouts:
Volume delta can help confirm breakout moves. For instance, a breakout accompanied by increasing positive delta values may suggest strong buying interest and validate the breakout.
In summary, volume delta provides valuable insights into market sentiment and can be used alongside price action analysis to make more informed trading decisions.
Last Kiss - PullBack to TrendLine
So far, various indicators have been published to draw the trend line. There are also indicators to detect trend line breakouts. But in rare indicators, the issue of " pullback to the trend line " has been discussed.
After breaking the trend line, the price usually returns to the trend line, which is called a pullback or the last kiss.
A pullback is a confirmation of the strength of the trend break.
1. Find the trend line
An uptrend line is formed by connecting two low-pivots.
low-pivot is a candle that has a lower low value than the before and after candles.
The pivot period is optional and can be changed from the indicator settings.
A pivot may form trend lines with several pivots before it. One of the important features of the indicator is that it can identify all trend lines.
The maximum number of trend lines for each pivot can be determined from the indicator settings.
It is also possible to determine the minimum and maximum distance between two pivots.
2. Find the trend line breakout
After the formation of the trend line, we wait for the price to return to it and break that line. As soon as the first candle closes after the trend line, the breakout is confirmed.
A trend line is not valid forever. If after a certain number of candles, the price does not move towards the trend line, the trend line becomes invalid.
The allowed distance from the formation of the trend line to the breaking point is optional.
3. Detect the last kiss (pullback)
For a valid pullback, after breaking the trend line, the price should move far enough away from the trend line (minimum distance is an optional factor of ATR) and then return to the trend line range and react to it.
Since the price reaction to the exact value of a trend line seems to be rare, therefore, we define an area parallel and close to the trend line as the range of the trend line.
The range is defined as an optional factor of ATR(50).
Also, the allowed distance between the trend line breakout and the pullback can be changed from the indicator settings.
Some features of indicator:
- Manage pivots and their distance
- Trend-Line detection of live market
- Extend lines from the right side for more clarity
- Detection of trend line breakout with the possibility of displaying on the chart and sending alarms
- Fast changing the color of broken lines
- Follow the broken lines to detect the pullback to the broken trend line
- Find pullback points and show them on the chart and send alarms
- Color management of trend lines, broken lines and pullback
- Instructions for using the indicator in the form of different tooltips.
Engulfing pullbackThis Indicator searching for pullback on input Moving Average with Engulfing candle
Rules for indicator :-
Buy Signal -
1) search for pullback on ma if price above ma and come back and touches ma
2)after pullback on ma searching for bullish engulfing pattern on next candle
3)if pullback on previous candle and bullish engulfing for buy signal form
Sell Signal -
1) search for pullback on ma if price below ma and come back touches ma
2)after pullback on ma searching for bearish engulfing pattern on next candle
3)if pullback on previous candle and bearish engulfing for buy signal form
Disclaimer -Traders can use this script as a starting point for further customization or as a reference for developing their own trading strategies. It's important to note that past performance is not indicative of future results, and thorough testing and validation are recommended before deploying any trading strategy.
TrendGuard Pullback Trader Signals [Quantigenics]The "TrendGuard Pullback Trader Signals" script, integral to the "TrendGuard Pullback Trader" system, offers a sophisticated suite of trading tools for nearly any market or time frame. Designed to be used alongside the "TrendGuard Pullback Trader Indicators" script, this script is pivotal for identifying Buy/Sell Signals, Profit Target Signals, and Stop Loss Levels.
As with all of our scripts, the "TrendGuard Pullback Trader Signals" script, is designed to work on ANY symbol and time frame. The input parameters can be adjusted to fit your specific trading style.
Methodology and Application:
The script's core methodology lies in identifying primary signals at the onset of a trend and secondary signals during pullbacks or dips. It focuses on pinpointing optimal entry points during market pullbacks, enhancing the "TrendGuard Pullback Trader Indicators" script with well-timed signals for profit targets and stop loss levels.
Technical Composition:
The "TrendGuard Pullback Trader Signals" script combines various technical analysis tools to generate comprehensive trading signals. It calculates stop levels by assessing the highest and lowest bars over a chosen period, defining the market range. Primary signals are derived using a triple exponential moving average (EMA) of logarithmic closing prices, identifying trend changes with stop level plots and directional arrows. For secondary signals, the script uses a sequence of EMAs applied to the average price (HLC3) and an oscillator that measures the extremity of recent price movements, pinpointing potential entry points. The script also incorporates a sideways exit mechanism, comparing short-term and long-term EMAs of the average price to detect significant deviations, suggesting exit opportunities. This layered strategy offers a detailed perspective on market trends, momentum, and possible entry and exit points.
EMA-Based Trend Analysis Algorithm :
Utilizes an advanced algorithm that incorporates exponential moving averages (EMA) with specific length parameters. This algorithm analyzes the slope and direction of EMA lines to identify significant shifts in market trends.
Primary Signal Generation : Logarithmic and Triple EMA Function:
Primary signals are derived from a unique logarithmic function applied to price data, which is then processed through a series of three EMAs with distinct period settings. This combination targets potential trend initiation points by detecting shifts in the logarithmic trend curve.
Dynamic Stop Level Determination :
Employs a methodology involving the calculation of recent high and low price bars, adjusted by a factor that considers market volatility. This factor dynamically alters the sensitivity of the stop levels, aligning them with current market conditions.
Secondary Signal Identification During Pullbacks :
Secondary signals are identified through a complex comparison of the market's relative position to its moving averages. This involves calculating the divergence between price and moving averages, adjusted for the rate of change in the market, to flag strategic entry points during pullbacks.
Composite Market Trend Analysis for Signal Mechanism :
Signal generation integrates a composite of multiple technical indicators, each contributing unique mathematical calculations. This integration enhances the accuracy and reliability of entry and exit signals.
Practical Application in Trading :
> For trade initiation, primary signals are used to identify the start of potential trends, applying a specific mathematical threshold to confirm the trend change. Secondary signals focus on quantifying the pullback depth relative to recent market movements for additional entry opportunities.
> The script's dynamic stop loss adjustment incorporates a calculated moving average of recent highs and lows, providing a responsive and protective mechanism for open positions.
How to Use the Script:
Trade Initiation : Primary signals at trend onset can be used for potential entry points, or to simply establish a trend-bias, to watch for Strategic Entries signals.
Strategic Entries on Pullbacks : Secondary signals provide opportunities for additional entries or scaling into positions during pullbacks within the main trend.
Profit Targets and Exit Strategy : Profit target signals serve as potential exit points. For larger positions, consider partial exits at these targets while adjusting stop loss levels to secure profits, and hold the remaining position for further potential gains.
Dynamic Risk Management : Regularly adjust stop loss levels based on the script's dynamic stop level determination to protect against market reversals and lock in profits.
Integration with TrendGuard Pullback Trader Indicators:
The script is designed and intended to be used in conjunction with the "TrendGuard Pullback Trader Indicators ". This integration ensures a holistic approach to market analysis, combining the strengths of both scripts for a comprehensive understanding of market trends, momentum, and entry points.
Note: The lower indicators are from the 'TrendGuard Pullback Trader Indicators' script, complementing the 'TrendGuard Pullback Trader Signals' script seen here, which generates the 'cloud' and signals on the price chart.
The 'TrendGuard Pullback Traders Indicators” script can be found here :
Input Parameter Settings:
Important Usage Guidance: For seamless integration with its counterpart, the "TrendGuard Pullback Trader Indicators" script, it's crucial to align the input parameter settings across both scripts. When adjusting values from their defaults, ensure that corresponding parameters in both scripts are identically set. This synchronization is key to achieving a cohesive and accurate representation on your charts.
Intra-Bar Order Generation (IntraBar): Determines whether signals are generated within the current bar or only after it closes, enhancing flexibility in signal timing.
Stop Level Strength (StopLvlStr): Sets the strength for calculating stop levels, impacting the sensitivity of the script to market highs and lows for stop placement.
Primary Signal Display (PrimON_OFF): Toggles the visibility of primary signals on the chart, aiding in identifying trend initiation points.
Secondary Signal Display (SecON_OFF): Controls the display of secondary signals for opportunities during pullbacks, allowing traders to capitalize on additional entry points.
Stop Loss Level Display (StopLossLvls): Enables or disables the visualization of stop loss levels, crucial for risk management strategies.
Trend Length (TrendLen): Adjusts the length parameter for the EMA calculations, influencing how the script interprets trend duration and strength.
These parameters allow traders to customize the script’s functionality according to their trading style and preferences, ensuring a tailored approach to signal generation and risk management.
Trade Alerts:
The script includes an advanced alert system designed to notify traders of crucial trading signals. This can Especially be useful when using larger time frames where trade setups can take a longer period of time to develop:
Primary Buy/Sell Alerts: Alerts are triggered at primary signals, indicating potential trend initiation points for entering trades.
Secondary Buy/Sell Alerts: These alerts activate during secondary signals, highlighting opportunities within ongoing trends for strategic entries or exits.
Stop Loss Level Alerts: The script can alert traders when the price reaches or crosses the script-determined stop loss levels, aiding in timely decision-making for risk management.
Sideways Exit Alerts: Alerts for potential exits are generated in sideways market conditions, based on the script’s analysis of average price movements.
To set up these alerts, traders can use TradingView’s alert system to specify the conditions under which they receive notifications, such as when a certain shape (e.g., arrow up for buy, arrow down for sell) appears on the chart. This feature helps traders stay informed and react promptly to the dynamic market conditions.
The "TrendGuard Pullback Trader Signals " script is a meticulously crafted tool, essential for traders aiming to enhance their market analysis and decision-making across diverse trading environments. While the script offers advanced functionalities, it reaches its full potential when used alongside the "TrendGuard Pullback Trader Indicators" script. Traders are advised to familiarize themselves with both scripts for a well-rounded trading strategy.
As always, remember that trading involves risks and past performance is not indicative of future results.
You can see the “Author’s instructions" below to get immediate access to TrendGuard Pullback Trader Signals & the rest of the “Quantigenics Premium Indicator Suite”.
Strong Pullback Indicator [Rami_LB]Strong Pullback Indicator
Description:
The Strong Pullback Indicator is designed to identify potential pullbacks or even trend reversals by utilizing a specific candlestick pattern in conjunction with the Relative Strength Index (RSI). It is advised to employ this indicator in chart intervals of 15 minutes or higher, as intervals below 15 minutes may generate excessive false signals.
Working Mechanism:
Upon detecting the designated candlestick pattern, the indicator examines whether any of the last five candles exhibit RSI values below 30 or above 70 across at least four distinct time intervals, depending on whether the pattern is bullish or bearish. The RSI calculations incorporate eight different intervals: 1 minute (1m), 5 minutes (5m), 15 minutes (15m), 30 minutes (30m), 1 hour (1h), 2 hours (2h), 4 hours (4h), and 1 day (1d). An arrow is rendered above or below the current candle only when these conditions are met.
Users have the option to adjust the number of overbought or oversold intervals, as well as the general settings for the RSI.
SL/TP Lines:
The indicator can also serve as a trade signal to initiate trades in the opposite direction. To evaluate the potential success of a trade in a backtesting scenario, SL (Stop Loss) and TP (Take Profit) lines can be displayed on the chart. The SL is calculated by taking the distance from the close of the current candle to the high/low of the previous candle and multiplying it by 2.
In the settings, you can alter the Risk Reward Ratio (RRR) of the trade. Given the pullback nature of this indicator, a RRR of 1:1 is deemed logical, thus set as the default value.
Bullish vs. Bearish Candle Counter:
An additional feature of this indicator is its ability to analyze the last 100 candles to ascertain the ratio of bullish to bearish candles. When a 60% threshold is reached, the chart background color alters accordingly. This feature was conceived after a thorough analysis of over 50,000 candles of a currency pair revealed nearly identical counts of bullish and bearish candles, suggesting a market tendency to maintain this balance.
Within the settings, you have the flexibility to modify the number of candles to be analyzed and the percentage threshold for each candle type.
Should you have any ideas on how to enhance the accuracy of this indicator, or suggestions for other indicators that could improve the signals, feel free to leave a comment.
Structure_TradingHubThe smart money concept suggests that institutional traders have a greater understanding of the market and often have access to more information than retail traders. Therefore, by analyzing market structure, retail traders can align themselves with the actions of smart money and potentially profit from their moves.
This indicator considerably simplifies the process of identification of market structure for traders based on the TradingHUB-3 technical method. Therefore, it is quite different from the existing market structure or trend detection tools, even the other smart-money-based indicators.
How it works:
The indicator starts candlestick analysis from the given start point detecting followings items.
1) Identify valid pullbacks (minor Zigzag):
Uptrend: In the upward trend, each candle that hits a higher high (HH), acts as our checking candle, and if the next candle hits its low, a valid pullback is formed, and we marked the checking candle as the end of a minor leg. Note that we do not take inside bars into account. If the highest point of the leg hit, the lowest point is marked as the end of pullback leg. On the other hand, if the lowest point of the upward leg is hit, the pullback checking procedure is restarted as a downtrend. Note that the downward checking is restarted from the highest point (previous checking candle).
Downtrend: The pullback detection for downtrend follows the reverse procedure of uptrend.
2) Identify inducements (IDM)
The last pullback point (on the minor zigzag) considers as the inducement level. In the uptrend, if the price hit the IDM, the highest point on the major leg is accepted as a major higher high. Note, if the IDM point is equal to a major HL and hit by price, the highest point is accepted as a new HH and the previous HH and LL are deleted (i.e. the HH is transferred).
In the downtrend, it acts conversely.
3) Identify valid break of structures (BOS)
In the uptrend, if the price closed above the highest point between the previous accepted HH to the current candle, a BOS is accrued, and the lowest point in this time interval is accepted as a higher low (HL). In the downtrend, it acts contrariwise.
4) Identify valid change of characters (Choch)
In the uptrend, if the price closed below the lowest point between the previous accepted HL to the current candle, a Choch is accrued, and the major trend changes from uptrend to downtrend, and a new reverse IDM will be detected. In the downtrend, it acts inversely.
5) Identify major HH/HL/LL/LH points
By following the above steps, the major higher highs, higher lows, lower highs, and lower lows, as well as the major trend are detected. The major high and lows on the major trend can be displayed by zigzag style or bullet points with corresponding up/down color.
How to use it:
This indicator works in any chart timeframe, and it does not need much tunning for use. Although, two parameters can be modified:
1- Starting Point:
Mode 1: Go back a certain number of candles in the past to find the starting point.
Mode 2: Use the last major swing that is higher/lower point between X candles right and left.
2- Choch/BOS min ticks' confirmation: The user can set an extra pipettes value that price should close higher/lower than the major H/L for more confirmation.
A trader can use this indicator for trading through the following steps (Of course, the trader is not restricted in these steps and can act according to its trading strategy):
1- Recognize the trend direction by seeing the H/L or zigzag color.
2- Identify the unmitigated IDM, which is marked by "X". When the inducement hit, the level is marked by "IDM", and a major H/L is confirmed.
3- Identify an order block to trade on it. We recommend users to add "OrderBlock_TradingHub " indicator to identify valid order blocks easily according to this technical method.
4- Go to the lower timeframe to find a trigger.
Indicator Options:
1) Set the starting point based on a certain number of candles or a major swing.
2) Show/Hide Pullbacks zigzag
3) Show/Hide Inducements (IDM)
4) Show/Hide Change of Characters (CHoCHs)
5) Show/Hide Break of Structures (BOS)
6) Draw up/down Trend
7) Draw H/L Points (by major Zigzag or Bullets)
8) Set CHoCH/BOS min pipettes for confirmation
9) Change the color and style of elements on the chart
Price Action Box RetracementsThe Price Action Box Retracements Indicator offers a fresh perspective on price analysis, departing from the conventional fixed-length lookback period commonly used in trading indicators. This indicator embraces a more flexible and adaptable approach, taking into account changes in price action behavior and avoiding overfitting. With a design philosophy rooted in the principle of "Keep it simple, stupid!" (KISS), this indicator allows users to customize just one variable: Price Box Size.
Imagine the price action as a journey within a box or channel, defined by significant pivots from the past that act as support and resistance levels. The Price Action Box Retracements Indicator visualizes the midpoints between these pivots, representing half-point retracements. By adjusting the "Price Box Size" variable, users can select the size of the price action box that the script will identify on the chart. A larger value will look for a larger box/channel, meaning the price will stay within it for a longer duration. Think of it as switching to a slower timeframe without changing the chart resolution.
The indicator plots a median line within the price action box, which changes color based on the position of the price action within the box. When the price action is trading below the median, the line is displayed in red, indicating a potential for short entries. Conversely, when the price action is above the box median, the line turns green, suggesting opportunities for long entries. An orange color is used when the price action breaks outside the box, signaling the start of a new trend or a measured move where the box size is expected to double.
Sudden changes in the median location are crucial signals that the price action has broken outside its previous box and created a new one. Usually, the price action will attempt to return back and test its old box boundaries or median (support/resistance) before continuing further. If the new box is positioned above the previous one, it indicates an upward channel (uptrend), while a box below the previous one suggests a descending channel (downtrend). A flat median line represents a ranging market, where the price action lacks a clear directional bias.
In addition to the median plot, the script also offers a pivot-anchored moving average, assisting traders in identifying smaller trends and potential entry points within a larger price action box.
Experience a new approach to price analysis with the Price Action Box Retracements Indicator and enhance your trading strategies with simplicity and flexibility.
Supply and Demand Daily [LuxAlgo]The Supply and Demand Daily indicator displays daily supply and demand areas on the user's chart. These areas are constructed using the market data within a previous daily interval.
This script makes use of the same logic as our previous Supply and Demand Visible Range indicator .
🔶 USAGE
The supply/demand areas & levels displayed by the indicator aim to provide potential support/resistance levels for users. Supply areas highlight where buyers are willing to exit the market and sell the asset, thus providing resistance and potentially causing prices to reverse or bounce back downwards, while demand areas highlights where buyers were willing to purchase the asset, thus providing support and potentially causing prices to reverse or bounce back upwards.
Historical areas allow the user to study the evolution of supply/demand from one day to another. Wider areas highlight prices avoiding reverting to this area, while thinner areas highlight prices returning more frequently to them.
Trends can be determined by looking at the price position relative to the previous day's supply/demand areas. Price breaking down from the demand zone is indicative of a downtrend, while price breaking above the supply zone is indicative of an uptrend.
Pullback/throwback scenarios can also be common using this indicator.
🔶 SETTINGS
Threshold %: Percentage of the total visible range volume used as a threshold to set supply/demand areas. Higher values return wider areas.
Resolution: Determines the number of bins used to find each area. Higher values will return more precise results.
Intra-bar TF: Timeframe used to obtain intra-bar data.
🔶 RELATED SCRIPTS
Pullback WarningThe Pullback Warning indicator is a simple indicator that highlights the potential for a market pullback, by measuring distances between certain key moving averages.
John Pocorobba recently shared in his general market updates, research showing that when the distance between the closing price and the 9 day exponential moving average is greater than the distance between the 9 day exponential moving average and the 20 day exponential moving average a pullback is likely.
While this condition occurs frequently, I added sensitivity options to try and filter out the noise. The sensitivity is based on the closing price’s extension from the 50 day simple moving average. Depending on your level of sensitivity, only signals that occur when price is extended either 5, 6, or 7 percent away from the 50 sma will be plotted.
Choose how to see the signal:
Highlight Background
Plot a symbol at desired location
Note this signal works best on indexes, not individual securities.
Extended Price for Pullback IdentifierOverview
This script was created from an idea I saw on one of John Pocorobba's General Market Update videos. In it, he mentions that he's looking for certain criteria to signal that price may be extended and that a pullback may be coming. This script helps to identify those candles. It also goes a step further and identifies if the candle has not only met the criteria but has also has moved at least 1 ATR at the close.
By default, the potentially extended candles are colored gold and the potentially extended candles with an ATR are colored blue. Both are editable as is the ATR length.
There are many ways to fine-tune this script to get it to fit the security in which you're interested and there are some additional niceties to help make the indicator more well-rounded.
NOTE: This script is meant to be used on indexes or index ETF's and only on the Daily timeframe.
How It Works
- Allows the user to modify the minimum distance between the close and the fast EMA to fine-tune the filter (this is one of John's key criteria).
- Ensures that the distance between the fast and slow EMA's is less than the distance between the close and fast EMA (this is one of John's key criteria).
- Ensures that all three moving averages are in the correct order (fast > slow > base)
- Ensures that the candle closed higher than the previous one and can be tuned to identify when price has been in a trend for however many days you want.
- Checks for a fine-tunable gap to help filter out large gap-ups that may be just a breakout or something else unrelated to a potential pullback.
- Plots the moving averages (also editable), if desired.
- Allows the ATR filter to be decoupled from the extended price filter should the trader want to see only the ATR candles.
- Allows the trader to determine if they want to colorize just the up candles or both up and down candles.
Troubleshooting
- If you're not seeing colored candles ensure that the indicator is placed at the top of the Object Tree. You can get there by clicking the icon in the lower-right corner of TradingView that looks like a stack of papers and then dragging the indicator to the top of the list.
- If you're still not seeing colored candles play around with the settings until some start to show up. Depending on the security, some of the settings may need to be very low.
Future Updates & Suggestions
I'm considering adding in a 'Presets' dropdown that will load default settings for certain indexes and/or index ETF's (no individual stocks). If this is something you think would be useful, or if you have some settings of your own for an index or index ETF that you'd like to have added, let me know in the comments below.
Trend & Pullback Toolkit (Expo)█ Overview
The Trend & Pullback Trading Toolkit is an all-encompassing suite of tools designed for serious traders who want a comprehensive trend approach. It empowers traders to align their strategies with prevailing market trends, thereby mitigating risk while maximizing profit potential.
The Toolkit helps traders spot, analyze, and react to market trends, pullbacks, and significant trends. It combines multiple trading methodologies, such as the Elliott Wave theory, cyclical analysis, retracement analysis, strength analysis, volatility analysis, and pivot analysis, to provide a thorough understanding of the market. All these tools can help traders detect trends, pullbacks, and major shifts in the overall trend. By integrating different methodologies, this toolkit offers a multifaceted approach to analyzing market trends.
In essence, the Trend & Pullback Toolkit is the complete package for traders seeking to detect, evaluate, and act upon market trends and pullbacks while being prepared for major trend shifts.
The Trend & Pullback Toolkit works in any market and timeframe for discretionary analysis and includes many oscillators and features, but first, let us define what a cycle is:
█ What is a cycle
This involves the analysis of recurring patterns or events in the market that repeat over a specific period. Cycles can exist in various time frames and can be identified and analyzed with various tools, including some types of oscillators or time-based analysis methods.
Traders must also be aware that cycles do not always repeat perfectly and can often shift, evolve, or disappear entirely.
█ Features & How They Work
Elliott Wave Cycles: This is a method of technical analysis that traders use to analyze financial market cycles and forecast market trends. Elliott Wave theory asserts that markets move in repetitive cycles, which traders can analyze to predict future price movement. The core principle behind the theory is that market prices alternate between an impulsive, or driving phase, and a corrective phase on all time scales of trend. This pattern forms a fractal, meaning it's a self-similar pattern that repeats regardless of the degree or size of the waves.
The Elliott Wave Cycle Feature uses the principle of the Elliott Wave to identify trends and pullbacks in real-time.
Ratio Wave Cycle: This method elaborates on the concept of how negative volatility, or the degree of variation in the negative returns of a financial instrument, influences the effectiveness of a relative price move. Essentially, it delves into the relationship between the negative fluctuations in the market and the resulting relative price change, exploring how the two aspects interact with each other.
The central concept is that trends are generally more stable and predictable than rapid retracements. Therefore, the indicator calculates the relationship between these two market movements. By doing so, it establishes a trend-based identification system. This system aids in forecasting future market movements, allowing traders to make informed decisions based on these predictions. Essentially, it uses the calculated relationship to discern the overall direction (trend) of the market despite temporary counter-movements (retracements), thereby providing a more robust trading signal.
Periodic Wave Cycle: Thi refers to patterns or events in price action that recur over a specific time period. Periodic cycles can range from short-term intraday cycles (like the tendency for stock market volatility to be high at the opening and close of trading) to long-term cycles trend cycles. Traders use this to predict future price movements and trends.
By identifying the phases of a cycle, traders can predict key turning points in the market.
Retracement Cycles: Retracements are temporary price reversals that occur within a larger trend. These retracements are a common occurrence in all markets and timeframes, representing a pause or counter-move within a larger prevailing trend. Retracements can be driven by a variety of factors, including profit-taking, market uncertainty, or a change in market fundamentals. Despite these periodic reversals, the overall trend (upwards or downwards) often continues after the retracement is complete.
Fibonacci retracement functions are primarily used to identify potential retracement levels.
Volatility Cycle: A volatility cycle refers to the periodic changes in the degree of dispersion or variability of a security's returns, expressed as a standard deviation or variance. This feature uses both measures.
Strength Cycle: Gauges the power of a market trend and its inherent impulses. This feature offers a broad perspective on the cyclical nature of markets, which alternate between periods of strength, often referred to as bull markets, and periods of weakness, known as bear markets. It effectively tracks the direction, intensity, and cyclic patterns of market behavior.
Let us define the difference between strength and impulse:
Strength: This refers to the power or force behind a price move. In trading, this refers to the momentum or volume supporting a price move.
Impulse: In the context of trading, an impulse usually refers to a strong move in price. Impulse moves are typically followed by corrective moves against the trend.
Pivot Cycles: Pivot cycles refer to the observation of recurring price patterns or turning points in the market. Pivots can be defined as significant highs or lows that act as potential reversal or support/resistance points. Pivot point analysis helps traders understand the prevailing market sentiment. Overall, pivot cycles provide traders with a framework to identify potential market turning points and price levels of interest.
█ How to use the Trend & Pullback Toolkit
Elliott Wave Cycles
Ratio Wave Cycle
Periodic Wave Cycle
Retracement Cycles
Volatility Cycle:
Strength Cycle
Pivot Cycles
█ Why is this Trend & Pullback Toolkit Needed?
The core philosophy of this toolkit revolves around the popular adage in trading circles: "The trend is your friend." This toolkit ensures that you are always in sync with the trend, thereby increasing the chances of successful trades.
Here's an overview of the key benefits:
Trend Identification: The toolkit includes sophisticated algorithms and indicators that help identify the prevailing trend in the market. These algorithms analyze price patterns, momentum, volume, and other factors to determine the direction and strength of the trend.
Risk Reduction: By enabling traders to trade with the trend, this toolkit reduces the risk of betting against market momentum.
Profit Maximization: Trading with the trend increases the likelihood of successful trades.
Advanced Analysis Tools: The toolkit includes tools that provide a deeper insight into market dynamics. These tools enable a multi-dimensional analysis of market trends, from Elliott Wave cycles and period cycles to retracement cycles, ratio wave cycles, pivot cycles, and strength cycles.
User-friendly Interface: Despite its sophistication, the toolkit is designed with user-friendliness in mind. It allows for customization and presents data in easy-to-understand formats.
Versatility: The toolkit is versatile and can be used across different markets - stocks, forex, commodities, and cryptocurrencies. This makes it a valuable resource for all types of traders.
█ Any Alert Function Call
This function allows traders to combine any feature and create customized alerts. These alerts can be set for various conditions and customized according to the trader's strategy or preferences.
█ In conclusion, The Trading Toolkit is a powerful ally for any trader, offering the capabilities to navigate the complexities of the market with ease. Whether you're a novice or an experienced trader, this toolkit provides a structured and systematic approach to trading.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Dual Dynamic Fibonacci Retracement — Long and Short Duration
Title : "The Dual-Dynamic Fibonacci Retracement Script: An Advanced Tool for Comprehensive Market Analysis"
As the author of the "Dual-Dynamic Fibonacci Retracement Script", I am delighted to introduce you to this cutting-edge tool for technical analysis. Unlike conventional Fibonacci scripts, this advanced model incorporates multiple unique features and adjustments that make it a powerful asset for any market analyst. Whether you're dealing with forex, commodities, equities or any other market, this script is versatile enough to enhance your trading strategy.
Uniqueness & Differentiation:
The "Dual-Dynamic Fibonacci Script" stands out by offering two distinct lookback periods. This feature is what separates it from other scripts available in the market. The first lookback period is longer, focusing on capturing broader market trends. The second lookback period is shorter, allowing for a more granular analysis of near-term market fluctuations. This dual perspective provides a more comprehensive view of the market, allowing you to see both the forest and the trees at the same time.
Fibonacci Levels:
While offering the standard Fibonacci retracement levels (0.236, 0.382, 0.5, 0.618, 0.786, and 1.0), the script also gives you the ability to plot 0.114 and 0.886 levels. These additional levels offer an extra layer of depth to your analysis, and can prove crucial in high-volatility markets where they often serve as significant support and resistance points.
Customizable Line Shifts and Extends:
This script provides options for customization of the shift and extension of the plotted lines. This means you can adjust the start and end points of the Fibonacci lines according to your personal trading style and strategy. This level of personalization is not typically available in other scripts, and it allows for a more tailored visual representation.
Flexible Trading Positioning:
Depending on whether the closing price is above or below the midpoint of the pivot high and pivot low, the Fibonacci retracement levels are adjusted accordingly. This ensures the script remains relevant and useful regardless of market conditions.
Clean Visualization:
To prevent clutter and maintain focus on the most relevant price action, the script removes old Fibonacci lines and plots new ones once a new pivot high or low is identified. This clean visualization helps keep your analysis focused and sharp.
How to Use the Script:
To get started, simply adjust the lookback periods according to your trading strategy. If you're a long-term investor or prefer swing trading, a longer lookback period might be appropriate. Conversely, if you're a day trader, a shorter lookback period might be more beneficial.
The "Shift" and "Extend" inputs allow you to control the positioning of the Fibonacci lines on your chart. Positive values shift the lines to the right, while negative values shift them to the left.
You also have the choice to plot the additional Fibonacci levels (0.114 and 0.886) via the "Plot 0.114 and 0.886 levels?" input. Similarly, the "Plot second set of levels?" input lets you decide whether to display the second set of Fibonacci levels derived from the shorter lookback period.
Like any technical analysis tool, this script is most effective when used in conjunction with other indicators and methods of analysis. It is designed to work well in trending markets, where Fibonacci retracements can often indicate potential reversal levels. However, it's always recommended to use a holistic approach to market analysis to maximize the likelihood of successful trades.
Note: the two lines drawn on the chart are there to help the user identify the levels from which the two respective Fib sequences are calculated.
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Input Explanations:
Long Period Pivot High/Low Lookback and Short Period Pivot High/Low Lookback : These settings determine the length of the lookback periods for the long-term and short-term pivot points, respectively. A pivot point is a technical analysis indicator used to determine the overall trend of the market over different time frames. The pivot points are then used to calculate the Fibonacci levels. A longer lookback period will identify pivot points over a broader time frame, capturing major market trends, while a shorter lookback period will identify pivot points over a narrower time frame, capturing more immediate market movements.
Long Period Fibonacci Level Shift and Short Period Fibonacci Level Shift : These inputs control the shift of the Fibonacci levels based on the long and short lookback periods, respectively. If you want to shift the Fibonacci levels to the right, increase the value. If you want to shift the Fibonacci levels to the left, decrease the value. This allows you to adjust the Fibonacci levels to better align with your analysis.
Long Period Fibonacci Level Extend and Short Period Fibonacci Level Extend : These inputs control the extension of the Fibonacci levels based on the long and short lookback periods, respectively. If you want the Fibonacci levels to extend further to the right, increase the value. If you want the Fibonacci levels to extend less to the right, decrease the value. This feature provides the flexibility to adjust the length of the Fibonacci levels according to your personal trading preferences and strategy.
Plot 0.114 and 0.886 levels? : This setting gives you the ability to plot the additional 0.114 and 0.886 Fibonacci levels. These levels provide extra depth to your analysis, particularly in highly volatile markets where they can act as significant support and resistance levels.
Plot second set of levels? : This input allows you to decide whether to plot the second set of Fibonacci levels based on the short lookback period. Displaying this second set of levels can provide a more granular view of market movements and potential reversal points, enhancing your overall analysis.
Trading Zones based on RS / Volume / PullbackThis is an Indicator which identifies different Trading Zones on the chart.
This should be Primarily used for Long Trades.
Trading Zones: and the Reasoning behind them
Long Zone -> One can do a Potential Entry (Buy) when this Zone is identified, but one could also wait for 'Entry Zone' (explained next) for a better Risk/Reward Trade.
Long Zones are identified with the help of Relative Strength and by an Intermediate Top in price.
Entry Zone -> This can be a better Risk/Reward zone to enter positions within the Long Zone.
Entry Zone is identified by a Pullback in Price & Volume contraction after the Long Zone is activated
Warning Zone -> One needs to be careful in this zone, no need to panic, Script will now try to find an Exit when Price Retraces towards Highs.
Warning Zone identifies weakness in the Price using Relative Strength of the current Stock (w.r.t. the Reference Symbol configured) and the severity of Pullback in Price.
Exit Zone -> are found only after transitioning to Warning Zone, this is a Zone which helps in minimising losses after a trade has gone into losses. Exit Zone is identified by making sure a local peak forms in Warning Zone. However, there are instances when Exit Zone detection can get prolonged when a local price peak is not formed soon enough. So one needs to be careful and use other strategies for exit.
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What is different in this Script:
The Script uses Relative Strength in combination with Pullback in Price from Highs in a Novel way.
Over-trading is avoided by ignoring Sideways price movements, using Relative Strength.
Only Trending Upward movement is detected and traded.
How to use this Indicator:
Use these 'Trading Zones' only as a reference so it can minimise your time in screening stocks.
Preferred Settings for using the Indicator:
Stick to 1-Day candles
Keep Relative Symbol as "Nifty" for Indian Stocks.
For US stocks, we can use "SPX" as the Relative Symbol.
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FEW EXAMPLES:
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ASIANPAINT
TATAMOTORS
TITAN
ITC
DIVISLAB
MARUTI
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Feedback is welcome.
SLSMA PullbacksThis script picks up two types of pullbacks using the SLSMA line. The pb1 signal picks up a fast first pullback as price action breaks the SLSMA line. The pb2 signal detects a stronger pivot with the trend. There is an option to filter pb1 signals with trend in the settings. Lower highs and Higher lows are displayed as labels along the SLMSA line. This tool can be overlaid on your chart or over an indicator using it as its external source.
Support Resistance with Breaks and RetestsThe Break and Retest indicator strives to provide a visual aid for spotting areas of continuation and pullbacks. Support and resistance levels are drawn out automatically and have sequential conditions in place to determine a breakout following an eventual retest. Additionally, there are methods in place that try and detect liquidation events and still output a retest.
Although there are options to adjust repaint settings, "potential labels" are structured in a way to detect live ongoing retest events and therefore will be the only thing in the script that will be forced to repaint.
🔳 Settings
Lookback Range: Lookback period to trigger a new support/resistance level when pivot conditions are met.
Bars Since Breakout: How many bars since breakout in order to detect a retest.
Retest Detection Limiter: Whenever a potential retest is detected, the indicator knows that a retest is about to happen. In that given situation, this input grants the ability to raise the limit on how many bars are allowed to be actively checked while a potential retest event is active. For example, if you see the potential retest label, how many bars do you want that potential retest label to be active for to eventually confirm a retest?
🔳 Repaint Options
By default, the break and retest system uses the current close value to determine a condition. (Repaints by default)
On: Allows repainting
Off - Bar Confirmation: Prevents repainting and generates alerts when the bar closes. (1 candle later)
Off - High & Low: Prevents repainting, but in return utilizes both the high and low values instead of the close which may yield a higher outcome and inaccurate results.
🔳 How it works
In the background, calculations aren't searching for the perfect retest within the zone but instead focuses its attention towards price fluctuation around the zones. This allows the indicator to yield more results than it would otherwise.
The chart below provides an example of how potential retests are established. These are updated constantly until a retest is confirmed, and deleted if not. If a potential retest is active and the next candle drops below the value when the potential retest was detected, a retest is placed..
🔳 Alerts
Morning Option Pullback IndicatorI designed this indicator to help me identify Option CALL and PUT signals for the QQQ and SPY on the 1 min chart.
Summary of how it works
1. It identifies the Pre-Market channel High and Low and draws green and red lines for the day at these levels.
2. Waits for a morning or afternoon sessions breakout/breakdown of price out of that channel.
3. The buy a CALL or PUT signal is when price pulls back to the EMA Medium line after breaking out of the channel.
4. Settings allow adjusting of when the signal happens
5. EMA Short (5) and EMA Medium (20) must stay apart for a selectable number of bars
6. For a CALL signal, the Price and EMA Medium (20) must be above the Pre Market High line when price pulls back to EMA Medium (20) line
7. There is a selectable adjustment to allow the signal to trigger when the price comes within a close enough range of the EMA Medium and PM High lines
8. There is a TICK.US filter that you can use to only signal a CALL when the TICK.US 10 min chart shows the average of the EMA5 and EMA20 is over 100
9. It has Buy and Sell signal Alerts and user adjustable Stop Loss and Profit Taker settings.
10. EMA Settings are adjustable and can show up to 3 EMA's on the chart. I personally like the EMA5 and 20. Others may use something similar like 9 and 21. It's user selectable.
Ma PullbackThis indicator is based on ema band....
condition for buy =>
1) price should crossover ema band
2) price pullback on ema band but price should not close below lower band
3)after pullback green candle should close above ema band
4)check candle size when its crossing ema band
5)check previous canlde 7 should not touching cloud so (we can reduce range signal)
condition for sell =>
1) price should crossunder ema band
2) price pullback on ema band but price should not close above upper band
3)after pullback red candle should crossunder ema band
4)check candle size when its crossing ema band
5)check previous canlde 7 should not touching cloud so (we can reduce range signal)
this indicator also for education purpuse how we can make pullback condition....
RSI Pull-BackA pull-back occurs whenever the price or the value of an indicator breaks a line and comes back to test it before continuing in the prevailing trend.
The RSI has oversold and overbought levels such as 20 and 80 and whenever the market breaks them returns to normality, we can await a pull-back to them before the reversal continues.
This indicator shows the following signals:
* A bullish signal is generated whenever the RSI surpasses the chosen oversold level then directly shapes a pull-back to it without breaking it again.
* A bearish signal is generated whenever the RSI breaks the chosen overbought level then directly shapes a pull-back to it without surpassing it again.
Market Crashes/Chart Timeframes HighlightThis extremely helpful indicator allows you to highlight 7 custom date-based timeframes on your charts.
The default dates selected are what I consider to be the most significant 7 most recent market declines, including and since the 87 flash crash.
Note: The default dates are approximate but good enough to highlight the key timeframes of these pullbacks/crashes/corrections.
It's simple to use and does exactly what it should.
I created this indicator to make it easier when looking at the overall story of a chart. I found it helpful to highlight these areas to see how a market or equity has responded during these significant market pullbacks.
The highlight alone I’ve found helpful, and it becomes more powerful if you combine it with your own trusted trade system.
Also, to get the most out of using the default dates it’s important to understand the narrative behind each pullback/crash. Here’s the list of what I consider significant pullbacks:
Black Monday - Oct 87
1990s Recession - Jul 90 to Mar 91
Dot Com Bubble - 2000 to 2002 or so
Real Estate 2008 Crisis - I choose 2007-2009 to cover full insider knowledge and aftermath
2016 - 2018 - This isn't seen as a pullback, but I have it as significant because in many markets and equities, this was an almost equal percentage pullback as 2008. See Notes below
2020 Crash - Covid-19 and related shenanigans pullback
April 2021 to August 2022 - I believe we are in a current SHORT cycle so I've highlighted April 2021 as the start of what might be the start of a major decline testing Dot Com or lower levels.
A few notes on the above.
You'll find on most of the pullbacks listed above most equities and related markets behave similarly or have similar patterns.
The 2016-18 pullback is the most difficult to track. For instance, GE in this timeframe had a -80% decline, whereas BA depending on how you want to measure it had a 50-110% gain.
Chrtpnk LTF Pullback ScalperINTRODUCTION
I am happy to present the system which I am using for intraday scalps. I have developed this system for my own using, and it has started out as a mere productivity tool. Since I am using more timeframes for the calibration of my scalp entries, I needed a clean, color-based chart tool that relieves me from watching several timeframes simultaneously.
The system has been optimized for entries on the 15-minute chart, providing calibration by following the 1-hour and 4-hour charts in the background.
In this trend following momentum pullback scalping system we are following the trend structure, the multi-timeframe momentum, and we can also add the Stochastic RSI to properly time our entries. Below please find details.
TREND STRUCTURE
The overall trend on our trading timeframe is shown with the assistance of three weighted moving average levels. In line with general MA trading principles, we are looking for the proper alignment of the MA levels, and a correlating price action with our trade. Whenever the short MA is above the middle MA and both of them are above the long MA, the trend is long. Whenever the short MA is below the middle MA and both of them are below the long MA, the trend is short.
MOMENTUM (Multi Timeframe!)
Further to the general trend structure, I am using market momentum to confirm my entries and exits. The most important market indicators to me in this respect are the RSI , DMI and Momentum Oscillator values. A bullish confluence of these momentum indicators are a confirmation for me on a long entry, and a bearish confluence may confirm a short entry.
This aspect is where I believe my indicator is a huge help. Instead of having to check for confluence separately, the indicator is simply signaling confluence by painting the bars, thus providing an easy and quick reading of current momentum.
Even further, the indicator is able to analyize the underlying indicators on three timeframes simultaneously, and paint the candles only in case of total confluence. This has been a huge help in my trading, as it provides me with an immediate MTF momentum reading upon opening a chart.
MY PREFERRED USE OF THIS INDICATOR
I am using this indicator on the 15-minute chart, and I am basically trying to perform trend following momentum pullback scalps. In order to properly time your sniper entries, you may add the Stochastic RSI to the indicator. Here is the strategy:
Long scalp: You are looking for a bullish moving average structure, and you are looking for green candles printed by the Chartpunk Indicator. Green candles mean bullish momentum confluence on the 15m, 1h and 4h timeframes. When you have the bullish ma structure and the green candles, you are waiting for a pullback to the short (yellow) moving average, or to the middle (orange) moving average. The shallower the pullback the stronger the odds. When you see a bounce (trend continuation) and you get also confirmation from the Stochastic RSI, you enter a long scalp.
Short scalp: You are looking for a bearish moving average structure, and you are looking for red candles printed by the Chartpunk Indicator. Red candles mean bearish momentum confluence on the 15m, 1h and 4h timeframes. When you have the bearish ma structure and the red candles, you are waiting for a pullback to the short (yellow) moving average, or to the middle (orange) moving average. The shallower the pullback the stronger the odds. When you see a bounce (trend continuation) and you get also confirmation from the Stochastic RSI, you enter a short scalp.
SUMMARY
This indicator is providing a very clean and quick-to-read outlook of an otherwise rather time and focus intensive study. Instead of checking for confluence of three momentum indicators on three timeframes, you immediately see confluence with the candle paint. The moving average structure is promptly there to confirm the read. The indicator is both a huge productivity help in scouting the market, and an asset to properly time your entries.
Channel SurfingThis is my Channel Surfing indicator. It fires Buy and Sell signals based on multiple conditions. You can use EMAs or LSMAs. You will have to check the box of which moving averages to use once you add it to the chart. It plots EMAs or LSMAs using the different sources Close, Low, and High as the channel to surf. It fires a Buy signal if price crosses the channel up and if there is a pullback into the channel followed by a breakout to the upside. It fires a Sell signal if price crosses the channel down and if there is a pullback into the channel followed buy a breakdown to the down side. I find it works great on the 5 minute SPY chart and the 1 minute chart of ES with the default settings when scalping. You are able to switch between 2 different channels using LSMAs or EMAs. The EMAs has an optional LSMA slope filter for getting rid of some false signals. Let me know if you guys find any other settings or ways to use this and as always I hope it helps.
