Whole NumbersThis is a simple indicator for the whole numbers.
It breaks down every pair for 10 pips.
Its also simple and nice to use
Reversal
OBV Correlation [Fournier-Eaton]This is the On Balance Volume Correlation (And Price Correlation) Indicator. Directions of each has been encoded with color.
This Indicator is one of a series of scripts which I hope will aid in volume analysis.
The primary component is the histogram plot which represents the correlation between the direction of obv of your current equity and your chosen reference equity.
I have included the direction of OBV for your currently plotted equity encoded as color. (Thus you know that if the plot is negative and blue, that the correlation is negative but the OBV for your current equity is increasing.)
Furthermore, I included a supplementary price correlation line for the given equities. This line has had price direction encoded as color for quick reference.
Thus as a quick example: if you see a blue negative histogram and an accompanying red positive line you know that: 1. obv is increasing and anti-correlated with your reference equity and the price is decreasing and positively correlated with your reference equity. A lot of information encoded in one plot.
If you find this at all useful, I'd love to hear from you.
Bradford Fournier-Eaton, PhD
Inside Bar and special Outside Bar insider bar is old and classic theory. but special outside bar is type of trap by operator in stock market
use this only daily or weekly time frame
special out side bar is type of reversal
Volume Confirmation Signal by BobRivera990The purpose of this script is to determine the response of trading volume to price action
This is not an indicator but a set of four signals
1 - Bullish Strength Signal (Upward Green Triangle) :
If the resistance is broken at the same time is valid
this signal indicates the continuation of the bullish trend
the trading volume is relatively high.
If the bar is closed above the resistance level, It will probably turn into support.
2 - Bullish Reversal Signal (Upward Black Triangle) :
if the bar is closed above the support level is valid
this signal indicates trend reversal after a bearish candle
the trading volume is very high.
3 - Bearish Strength Signal (Downward Red Triangle) :
If the Support is broken at the same time is valid
this signal indicates the continuation of the bearish trend
the trading volume is relatively high.
If the bar is closed below the support level, It will probably turn into resistance.
4 - Bearish Reversal Signal (Downward Black Triangle) : if the bar is closed below the resistance level is valid
this signal indicates trend reversal after a bullish candle
the trading volume is very high.
Fake-out ReversalsThis script combines two simple concepts, stop running and short term momentum, into a simple visual signal that can be applied to any market and any timeframe with some adjustment. It looks for price to violate a prior extreme within a certain lookback window, followed by price triggering a momentum filter that helps put the proverbial 'wind at your back' for the user. Users have the ability to customize three inputs; 1) Bars used to calculate price extremes 2)Bars since price violated that extreme 3)The sensitivity of the momentum filter.
You will find that these signals work best in choppy and rangebound price action, less so in trending/grinding markets. For entertainment/educational purposes only.
Enjoy!
The WWG Plan Indicator V2█ OVERALL
This indicator was specifically created for the Walsh Wealth Group.
In short it is a fusion of some of the most basic and widely used indicators to show overbought patterns and trend reversals.
Its best usage is with LTF scalping and agressive profit taking but can also be used to find HTF dips and buy-zones.
█ FEATURES
Buy Signal (Buy):
Printed only with all confirmations triggered
Small Buy Signal (B1 & B2)
Printed if some of the confirmations are triggered and can be treated as DCA entries or for further
confirmation with other indicators and basic TA.
Crayons (Color Bars):
Blue: RSI is oversold
Olive: RSI and Stoch RSI are oversold
Yellow: RSI, Stoch RSI are oversold and lower Bollinger Bands are crossed by Low
Orange: RSI, Stoch RSI and CCI are oversold
Trailing SL:
If activated in the config, a trailing SL can be displayed on the chart based on ATR.
█ SETTINGS
The underlying indicators used are RSI, Stoch RSI, Bollinger Bands, MACD and CCI.
All possible configs can be changed in the config settings.
█ GENERAL INFORMATION
Depending on the settings, the indicator performance will be highly affected.
This indicator is only displaying highly oversold areas and events of trend reversal it is not a *God*-Signal and will print false positives.
█ ALERTS
An alert for the main buy-signal is implemented and can be used via the TV alert functionality.
MyAlgo ZULU ZONESPLEASE READ THE ENTIRE POST BEFORE PURCHASING & USING THE MyAlgo Tool. Saves you and me some time in emails and messages. :)
This is the official version of MyAlgo ZULU ZONES
PLEASE UNDERSTAND THAT THIS IS A DIFFERENT AND SEPARATE PRODUCT AND SCRIPT FROM "MyAlgo SLIM" FROM THE MyAlgo TRADING TOOL SERIES
Description
ZULU Zones is a rework of a long-gone development from the early stages of MyAlgo.
It is an oscillator, which indicates the best timing for reversal zones, yet also in the settings allows the user to adjust itself to the given asset and its usual retraces/reversals, so it is easier to spot the next incoming reversal.
Side Notes
MyAlgo is being updated and upgraded very frequently to suit the requests of our customers.
This is not financial advice. Please read our disclaimer before using it.
Please refer to the signature field if you are interested in gaining access to this script.
Anything below this sentence will be Updates regarding MyAlgo
Upside reversalUpside reversal is a condition when price takes down prior day's low but closes in an upper half on a daily range
Overnight Bollinger Band ExtremesThis script is a combination of my overnight fakeout script and bollinger band color bars. It's designed to be used on CME/CBOT Equity Indexes during their GLOBEX session. It uses the built in Bollinger Band script and highlights bars that exceed the upper/lower bands during the overnight session.
Keltner Channels Color BarsAnother tweak to a classic built-in script. Simply replacing the Keltner Channels overlay plot with color bars.
Equity Index Overnight FakeoutThis script highlights when price violates the highest high or lowest low within the user's selected lookback period, with the caveat that it occurs during the GLOBEX session. The script is designed to work exclusively with the trading hours for CME and CBOT Equity Index futures. I'm planning to make a more customizable version down the line.
My reasoning behind this very simple script is that the low liquidity and participation of the overnight session creates a tendency for moves at extremes to mean revert. Let me know what you think.
Vision VolumeAfter reading an article on how to trade volume I felt that I needed some kind of indicator using price action and volume together.
More precisely I tried to build two indicators. Bear in mind this indactor is very simple because it only evaluates each bar with its previous bar and an average.
Nr.1 Weak/fake push: Price suddenly goes up/down a lot more but without much volume being traded -> sign of a fake move or low interest
Nr 2 Price action resistance: After an up or down move price suddenly stops moving but high volumes are being traded. This means high resistance from sellers in a rally or buyers in a decline.
This is very simple and as you can see it is often not a clear signal. I will try to improve it further. If a fake move bar (purple) has a close near its new high we don't know if the fake push will continue. As you can see on the chart. some reversal signs come a little to early.
You can re-color labels and turn them off optionally.
This is built for educational purposes only. I hope you find it useful.
Design by Hook
ZigZag with Fibonacci LevelsHello Traders,
This is " ZigZag with Fibonacci Levels " script. It finds the ZigZag, draw Fibonacci lines and put labels accordingly. I get many requests for this script, so here it is.
You can set ZigZag period as you wish. Bigger numbers (such 20, 30) may give better perspective and result.
It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.
As an example:
if you don't want to see ZigZag Lines then you have option to disable it and see only Fibonacci levels:
You have coloring options for Zigzag, Fibonacci lines and texts:
Enjoy!
(VIP) Contrarian Reversal Zones Script is showing potential reversal zones on chart, based on calculations of High/Low of selected period, smoothing it with selected type of Moving Average and applying Standard Deviation. Preferred to be used for contrarian traders. Another alternative usage would be to lock profit from open positions as this is very often early warning before reversal ahead.
If you're interested with access to indicator, please contact me via DM (private message) on Tradingview.com ;)
Study - Mean Reversion Index© fareidzulkifli
Disclaimer:
I always felt Pinescript is a very fast to type language with excellent visualization capabilities, so I've been using it as code-testing platform prior to actual coding in other platform.
Having said that, these study scripts was built only to test/visualize an idea to see its viability and if it can be used to optimize existing strategy.
While some of it are useful and most are useless, none of it should be use as main decision maker.
Indicator title : Mean Reversion Index
Description : This index is based on theory that suggests that asset prices and historical returns eventually will revert to the long-run mean or average level of the entire dataset.
Please note that this indicator are not intended to establish a trend bias. It only tells how far the closing price is from the mean price in terms of ATR multiples,
e.g. The green zone indicates that the price is within 3 ATR (default setting) from the mean price.
One way to use it is to determine a safe entry zone to enter current trend from a pullback.
For example, after a sharp retracement during an uptrend, as long as it does not retraced beyond the low of the green zone, Chances are, price is only retraced to its mean value and its not a start of a new downtrend and now ready to continue the uptrend.
More aggressive method to use this is as indicator approaching the higher limit of yellow zone,
prices is to far from the mean and not sustainable, and we can start to look for counter trend opportunity as price reverse to its mean value.
Bjorgum RSIRSI output signals are displayed with color change to reflect the plotted value. This makes evaluating RSI conditions require but a glance.
RSI momentum buy signals are given on the cross of the 50 level, whereas sell signals are given on a fall below.
Default values a 5 period RSI which gives more timely entrances and exits for swing traders. This can be adjusted to the typical 14 period if the viewer desires slower signals.
Bullish and bearish area is shaded to accentuate the signal to the eye.
Excellent results can be found when coupling BJ RSI, with BJ TSI, and the reversal system using all 3 as a complete together simultaneously
Default color changes are plotted as a recorded value falls within the following levels:
RSI < 30 = green
RSI 30-50 = red
RSI 50-70 = blue
RSI 70-80 = yellow
RSI 80-90 = orange
RSI 90-100 = white hot
Pro Algo Reversal 2 Signal No Repaint/No Lagging by @ProKingTVThis is a Reversal trading signal system (part 2) for any range markets. It’s better used with timeframe from 15 min to 60 min for day trading or swing trading. It generates reversal signals for the important turning point bars and candles with no repaint and no lagging.
Part 2 internal R/S setting is different from part 1. Use this script with part 1.
How does it work?
* Defines support/resistance (S/R) levels based on floor trader’s pivot points and my own S/R levels.
* Calculates the reversal signals, price reactions close to all above S/R levels.
* Generates reversal trading signal: buy/long or sell/short based on all combined factors.
What are the Reversal signals?
* Blue arrow means trend is reversed to bullish
* Pink arrow means trend is reversed to bearish
How to use?
* Blue up arrow : Buy(Long) or continuous Buy(Long)
* Pink down arrow : Sell(Short) or continuous Sell(Short)
* Have to increase time frame to reduce signal noises, prefer 15-60 min.
* There is no way to filter all noises even with higher time frame, all the trades must have a stop.
How to access?
* PM me to obtain access
* 10 day Free Trial is available
Pro Algo Reversal 1 Signal No Repaint/No Lagging
This is a Reversal trading signal system (part 1) for any range markets. It’s better used with timeframe from 15 min to 60 min for day trading or swing trading. It generates reversal signals for the important turning point bars and candles with no repaint and no lagging.
How does it work?
* Defines support/resistance(S/R) levels based on floor trader’s pivot points and my own S/R levels.
* Calculates the reversal signals, price reactions close to all above S/R levels.
* Generates reversal trading signal: buy/long or sell/short based on all combined factors.
What are the Reversal signals?
* Blue arrow means trend is reversed to bullish
* Pink arrow means trend is reversed to bearish
How to use?
* Blue up arrow : Buy(Long) or continuous Buy(Long)
* Pink down arrow : Sell(Short) or continuous Sell(Short)
* Have to increase time frame to reduce signal noises, prefer 15-60 min.
* There is no way to filter all noises even with higher time frame, all the trades must have a stop.
How to access?
* PM me to obtain access
* 10 day Free Trial is available
[TrustedSignals] Doji ScalperTrustedSignals Dojji Scalper is our most basic trading algorithm. It is based on Candle Patterns that show potential market reversal points.
The script has 3 different types of signals, which can be individually turned on and off:
- Doji signals, based entirely on the Doji candle pattern and 2 Strong and Weak candle reversal patters
As a bonus, we have included RSI based Support and Resistance bands that, if used correctly can further confirm all the entry signals
All chart signals can be set up as live alerts!
[TrustedSignals] Oscillator DivergencesDivergences are powerful tools that assess the price momentum and the likelihood of a price reversal. A positive divergence occurs when the price of an asset makes a new low while an oscillator, starts to climb. Conversely, a negative divergence is when the price makes a new high but the oscillator analyzed makes a lower high.
Once again, with the idea of providing an All-in-One indicator, this script can display the Divergences in up to 9 most used oscillators (RSI, Stochastic RSI, Stochastic, Williams%, MFI, ChangeMO, CCI, BB %B) including our own branded no-lag ‘ TS Oscillator ’
We have also included an optional custom no-lag smoothing function, that allows the user to smooth out the noise on all the oscillators and increase their accuracy, without delaying the actual data. This feature can be turned off if necessary and the smoothing length can be manually adjusted.
After the user selects from the first input the desired oscillator, the indicator can display Regular and Hidden Divergences on the chart.
The lookback period of the divergences is also fully configurable, as the settings for each of our individual oscillators.
Bjorgum TSI-This script utilizes simple color changes of the TSI output signals to aid in interpretation of the classic TSI indicator.
-Crosses of the TSI value line and signal line are a bullish or bearish indication. TSI value line is colored green or yellow to help identify that the TSI value line is either dropping or rising, while over or under the signal line.
-This can help anticipate a cross, or significant points in the trend. TSI signal line changes color when rising or falling which can help to identify larger prevailing trends.
-Generally, a rising signal line can be an overall bullish move, while falling more bearish regardless of crosses.
*Resolution function enables multiple overlay for "Multi-timeframe analysis"*
