I got the idea for a narrow Donchian Channel with a short lookback period which closely follows the price fluctuation in which the sides of the channel have a thickness according to the range of the last touching candle. Any channel, be it Donchian, Keltner, Bollinger Bands or Parallel, has an upside and a downside, touching the upside is a buy signal as this may...
Purpose: This script shows when price is in a range or trending. When the green line rises above the threshold the price is trending. When the green line falls below the threshold it's ranging. You may try adjusting the lookback way far back to find more areas of resistance. Logic: It shows how many instances the current price has been crossed in the past...
This script is meant to be a form of pure candlestick analysis. Terminology in the description used below is as follows: - numcands = Number of candles specified by the user to be used for sampling in each moving average. This script plots moving average (SMA/EMA specified by the user ) of the percentage of the high-low range that the previous {numcands}...
Here is an attempt to segregate ATR into ATR of up days and down days. While setting trailing stops based on ATR, you probably need to consider more on how an instrument can drop during red days. Hence, ATR of only red days makes more compelling case than overall ATR. Another use case for this kind of indicator may be in options if you are selling puts and calls...
Checks what the average true range is for the X amount of trading days. Then will also label the ATR from the low, and the ATR from the high of the current day. A second label can be created dependent on current days RVOL %. If RVOL is not 0 or 1, then it will create the second label. Otherwise it will just leave it as the standard label. The calculation for...
This is a Vortex Based Visual System, Which can help you identify the Vortex Crosses based Range Breakouts/ Breakdown, over the price Scale, How its made ? The vortex Crosses are projected over the Price on Same Time frame {Green and Red Filled area} -> green Area means : Vortex Crossover Range -> red Area means : Vortex Crossunder Range and on Higher...
Version 1 Creates a box around a specified time range with the ability to extend the lines to a later time. Next update: - Background in box - Remove historical boxes - Extend lines in future instead of only till current price There's similar but complex indicators out there, I'll leave this code as open source and you have permission to reuse and not credit me.
Mark Timeframes for future studies. Just copy and combine with your other indicators
Greetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: www.tradingview.com). This one is called User-Inputed Time Range & Fibs. The idea behind this script is to record the Range Highs and Lows of a User Defined...
EXPERIMENTAL: just a wild experiment.. mapping the average range break points to find natural hubs of support and resistance?!
█ 888 BOT #alerts (open source) This is an Expert Advisor 'EA' or Automated trading script for ‘longs’ and ‘shorts’, which uses only a Take Profit or, in the worst case, a Stop Loss to close the trade. It's a much improved version of the previous ‘Repanocha’. It doesn`t use 'Trailing Stop' or 'security ()' functions (although using a security function doesn`t...
█ 888 BOT #backtest (open source) This is an Expert Advisor 'EA' or Automated trading script for ‘longs’ and ‘shorts’, which uses only a Take Profit or, in the worst case, a Stop Loss to close the trade. It's a much improved version of the previous ‘Repanocha’. It doesn`t use 'Trailing Stop' or 'security()' functions (although using a security function doesn`t...
A simple script which allows the user to highlight the background of a certain session. At the moment there is only one session available, I will work on multiple highlights for numerous sessions at a later date.
Trend trading algorithms fail in ranging market and Swing trading algorithm fail in trending market. Purpose of this indicator is to identify if the instrument is trending or ranging so that you can apply appropriate trading algorithm for the market. Process: ATR is calculated based on the input parameter atrLength Range/Channel containing upLine and...
I have heard many people ask for a script that will identify the high and low of a specific session. So, I made one. Important Note: This indicator has to be set up properly or you will get an error. Important things to note are the length of the range and the session definition. The idea is that you would set it up for what's relevant to your trading. Going...
SuperTrendRange study attempts to determine the state of the market • whether a well-established bull/bear trend is present • whether the market is trading in a range SuperTrendRange (STR) takes into account the volatility of the market - further details regarding volatility can be found in the description of “Volatility Bands by DGT” study Due to its...
Disclamer: This indicator does not use actual Volume data and doesn't display any Volume data. It creates a pseudo Volume Profile by counting the high-low-2 values of candles and simulates something that is similar to a Volume Profile without using any Volume data. Core facts: Creates a pseudo Volume Profile by counting values of candles and sorting them...