Thrax - QuickStrike 5-Mins Scalping** Indicator Description **
1. Price Change Threshold (%) – The minimum price change required for a candle to be recognized as significant. Candles exceeding this threshold are considered potential candidates for zone creation. Default value for 5 min is 0.5%. As you move on higher timeframe the threshold should increase
2. Percentage Change for Zones (%) – The amount of price movement needed to form a dynamic support or resistance zone. Tweak this to control how sensitive the indicator is to price fluctuations. 5 min default value is 1%. For 15 min suggested is 2-3%.
3. Break Threshold for Zones (%) – Defines how much price must break above or below a zone for it to be removed from the chart/mitigated. Keeps the chart clean by removing invalidated zones. Default value is 0.1% in 5 min, for 15 min it is 0.5%.
4. Buy Zone Retracement Level (%) – The percentage retracement level for defining the inner buy zone within a broader bullish zone. Ideal for timing precision entries. Ideal value is 75%
5. Sell Zone Retracement Level (%) – The percentage retracement level used to determine the inner sell zone within a larger bearish zone. Helps in identifying potential reversal areas or exits. Ideal value is 25%
By tailoring these inputs, traders can fully customize the indicator to suit their scalping strategies, enhancing their ability to navigate fast-moving markets with confidence.
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There are two primary approaches for scalping using this indicator:
1. Candle-Based Scalping:
a. Bullish Signal: When you observe a bullish candle highlighted in blue (by default), you can consider entering a long position at the close of this candle. It’s advisable to wait for the candle to close before taking action. For a more aggressive scalp, you might take profits based on your scalp target after a few subsequent candles. If the price remains stagnant or moves unfavorably in the next few candles, you can exit with a small loss. Alternatively, if you have a higher risk tolerance, you may hold the position even if the price initially declines within a set percentage.
b. Bearish Signal: For a bearish candle highlighted in yellow, you can enter a short trade at the close of the candle. Similar to the bullish setup, you have the option to exit after a few candles if the price doesn’t move as expected or hold the position with a higher risk tolerance if the price goes up initially.
2. Zone-Based Scalping:
Entering Zones: Monitor the price as it enters a defined support or resistance zone. If you are open to higher risk, you can enter a trade immediately upon the price entering the zone. For a more cautious approach with a smaller stop loss, wait for the price to reach a retracement level within the zone before initiating your trade. This approach allows for a more precise entry but may result in missing out on trades if the price reverses before hitting the retracement level. Conversely, entering at the zone’s boundary offers the potential for early trade capture but comes with a higher stop loss risk.
Adjust these strategies based on your risk tolerance and trading preferences to optimize your scalping opportunities.
Scalping
Heikin Ashi Price DetectionThis script performs custom calculations for both bullish and bearish bars, providing a numerical result that can be used to gauge price movements and potential trading signals.
How It Works
Bullish Bars:
Calculates the absolute difference between the open and low prices (BullOpenLow).
Calculates the absolute difference between the high and close prices (BullHighClose).
Compares BullOpenLow and BullHighClose:
If BullOpenLow is greater, the difference is divided by BullOpenLow.
If BullHighClose is greater, the difference is divided by BullHighClose.
The result is normalized to a percentage and subtracted from 100 to produce a final value.
Bearish Bars:
Calculates the absolute difference between the close and low prices (BearCloseLow).
Calculates the absolute difference between the high and open prices (BearHighOpen).
Compares BearCloseLow and BearHighOpen:
If BearCloseLow is greater, the difference is divided by BearCloseLow.
If BearHighOpen is greater, the difference is divided by BearHighOpen.
The result is normalized to a percentage and subtracted from 100 to produce a final value.
Key Features
Bullish and Bearish Calculations: The script identifies bullish and bearish bars and applies separate calculations to each.
Normalized Results: The calculations provide a normalized result that can be easily interpreted.
Visual Representation: Results are plotted on the chart for quick visual reference.
Buy-Sell Volume Bar Gauge [By MUQWISHI]▋ INTRODUCTION :
The Buy-Sell Volume Bar Gauge is developed to provide traders with a detailed analysis of volume in bars using a low timeframe, such as a 1-second interval, to measure the dominance of buy and sell for each bar. By highlighting the balance between buying and selling activities, the Buy-Sell Volume Bar Gauge helps traders identify potential volume momentum of a bar; aimed at being a useful tool for day traders and scalpers.
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▋ OVERVIEW:
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▋ METHODOLOGY:
The concept is based on bars from a lower timeframe within the current chart timeframe bar, where volume is categorized into Up, Down, and Neutral Volume, with each one displayed as a portion of a column plot. Up Volume is recorded when the price experiences a positive change, Down Volume occurs when the price experiences a negative change, and Neutral Volume is observed when the price shows no significant change.
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▋ INDICATOR SETTINGS:
(1) Fetch data from the selected lower timeframe. Note: If the selected timeframe is invalid (higher than chart), the indicator will automatically switch to 1 second.
(2) Price Source.
(3) Treating Neutral Data (Price Source) as
Neutral: In a lower timeframe, when the bar has no change in its price, the volume is counted as Neutral Volume.
Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the previous change; “Up Volume” if the previous change was positive, and “Down Volume” if the previous change was negative.
Opposite Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the opposite previous change; “Up Volume” if the previous change was negative, and “Down Volume” if the previous change was positive.
(4) Average Volume Length, it's used for lighting/darkening columns in a plot.
(5) Enable Alert.
(7) Total bought (%) Level.
(8) Total Sold (%) Level.
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▋ COMMENT:
The Buy-Sell Volume Bar Gauge can be taken as confirmation for predicting the next move, but it should not be considered a major factor in making a trading decision.
BINANCE-BYBIT Cross Chart: Spot-Perpetual CorrelationName: "Binance-Bybit Cross Chart: Spot-Perpetual Correlation"
Category: Scalping, Trend Analysis
Timeframe: 1M, 5M, 30M, 1D (depending on the specific technique)
Technical analysis: This indicator facilitates a comparison between the price movements shown on the Binance spot chart and the Bybit perpetual chart, with the aim of discerning the correlation between the two charts and identifying the dominant market trends. It automatically generates the corresponding chart based on the ticker selected in the primary chart. When a Binance pair is selected in the main chart, the indicator replicates the Bybit perpetual chart for the same pair and timeframe, and vice versa, selecting the Bybit perpetual chart as the primary chart generates the Binance spot chart.
Suggested use: You can utilize this tool to conduct altcoin trading on Binance or Bybit, facilitating the comparison of price actions and real-time monitoring of trigger point sensitivity across both exchanges. We recommend prioritizing the Binance Spot chart in the main panel due to its typically longer historical data availability compared to Bybit.
The primary objective is to efficiently and automatically manage the following three aspects:
- Data history analysis for higher timeframes, leveraging the extensive historical data of the Binance spot market. Variations in indicators such as slow moving averages may arise due to differences in historical data between exchanges.
- Assessment of coin liquidity on both exchanges by observing candlestick consistency on smaller timeframes or the absence of gaps. In the crypto market, clean charts devoid of gaps indicate dominance and offer enhanced reliability.
- Identification of precise trigger point levels, including daily, previous day, or previous week highs and lows, which serve as sensitive areas for breakout or reversal operations.
All-Time High (ATH) and All-Time Low (ATL) levels may vary significantly across exchanges due to disparities in historical data series.
This tool empowers traders to make informed decisions by leveraging historical data, liquidity insights, and precise trigger point identification across Binance Spot and Bybit Perpetual market.
Configuration:
EMA length:
- EMA 1: Default 5, user configurable
- EMA 2: Default 10, user configurable
- EMA 3: Default 60, user configurable
- EMA 4: Default 223, user configurable
- Additional Average: Optional display of an additional average, such as a 20-period average.
Chart Elements:
- Session separator: Indicates the beginning of the current session (in blue)
- Background: Indicates an uptrend (60 > 223) with a green background and a downtrend (60 < 223) with a red background.
Instruments:
- EMA Daily: Shows daily averages on an intraday timeframe.
- EMA levels 1h - 30m: Shows the levels of the 1g-30m EMAs.
- EMA Levels Highest TF: Provides the option to select additional EMA levels from the major timeframes, customizable via the drop-down menu.
- "Hammer Detector: Marks hammers with a green triangle and inverted hammers with a red triangle on the chart
- "Azzeramento" signal on TF > 30m: Indicates a small candlestick on the EMA after a dump.
- "No Fomo" signal on TF < 30m: Indicates a hyperextended movement.
Trigger Points:
- Today's highs and lows: Shows the opening price of the day's candlestick, along with the day's highs and lows (high in purple, low in red, open in green).
- Yesterday's highs and lows: Displays the opening price of the daily candlestick, along with the previous day's highs and lows (high in yellow, low in red).
You can customize the colors in "Settings" > "Style".
It is best used with the Scalping The Bull indicator on the main panel.
Credits:
@tumiza999: for tests and suggestions.
Thanks for your attention, happy to support the TradingView community.
RF+ Replay for Heikin AshiRF+ Replay for Heikin Ashi
RF+ Replay for Heikin Ashi generates fully customisable Heikin Ashi candlesticks presented on a standard chart, enabling traders to utilise the Tradingview Replay feature with Heikin Ashi candlesticks when analysing and backtesting HA style strategies.
The features of this indicator include:
- Fully customisable Heikin Ashi Candles, including custom colour options for candle bodies, borders and wicks.
- Optional real-time, real-price close dots painted onto each candlestick.
- A optional set of 2 x Range Filters designed to indicate short term trend identification upon color change, ideal for low timeframe scalping.
- A optional set of 3 x fully customisable Moving Averages.
- An option to enable Heikin Ashi calculated data for the Range Filters and Moving Averages, so they present as they would on a Heikin Ashi non-standard chart type, without having to use an actual Heikin Ashi chart. Enabled by default.
- An optional sessions indicator, to highlight your prefered trading session for the purpose of backtesting.
- An optional watermark featuring customisable text and well as symbol and timeframe information, as seen in the screenshot of this indicator.
Instructions for use:
1) Because this indicator generates candlesticks and presents them onto your chart, you will need to hide the existing candlesticks so you do not see two sets of candles. You can do this by going into your Tradingview chart settings and making the candle bodies, borders and wicks fully transparent. You can then save this as a layout template. You can access your Chart Settings by clicking on the cog icon, or by right clicking on the chart itself and selecting 'Chart Settings' from the list.
2) Ensure you have the standard chart type selected - you do not need to select a Heikin Ashi type chart.
3) You will now be able to analyise and even backtest your Heikin Ashi style strategies including the use of the Tradingview Replay feature found at the top of the chart.
Heikin Ashi means 'average bar' in Japanese, which speaks to the fact that Heikin Ashi candles are calculated differently to standard Japanese candlesticks. The general idea of Heikin Ashi candles is to 'smooth' the appearance of price movement, by the use of averages within their calculation. It is important to understand that the Open and Close values of a Heikin Ashi candlestick do not reflect real Open and Close prices. You can use the real price dots feature to clearly see the real time and real price Close of each candle.
The formula for calculating a Heikin Ashi candlestick is as follows:
High = Maximum of High, Open, or Close (whichever is highest)
Low = Minimum of Low, Open, or Close (whichever is lowest)
Open = Open (previous bar) + Close (previous bar) /2
Close = (Open + High + Low + Close) / 4
If you found this useful, be sure to leave a like, comment and subscribe to show your support.
Until next time.
Volume Footprint Voids [BigBeluga]Volume Footprint Voids is a unique tool that uses lower timeframe calculation to plot different styles of single candle POC.
This indicator is very powerful for scalping and finding very precise entry and exits, spotting potential trapped traders, and more.
Unlike many other volume profiles, this aims to plot single candle profiles as well as their own footprints.
🔶 FEATURES
The script includes the following settings:
Windows: Plotting style and calculations
Coloring modes
Display modes
lower-timeframe calculations
🔶 CALCULATION
In the image above we can see how the script calculates each level position that will serve as a calculation process to see how much volume/closes there are within the levels.
In the image above, we can have a more clear example of how we count each candle close.
We use the prior screenshot as an example, after setting each level we will use the lower-timeframe input to measure the amount of closes within the ranges.
Depending on the lot size, the box will be larger or smaller, usually the POC will always have the highest box size.
NOTE: Size is the starting point, always from the low of the candle.
To find more voids, select a closer LTF to the current one you're using.
To find fewer voids, select a timeframe away from your current one.
Due to Pine Script limitations, we are only able to plot a certain amount of footprints, and we can't plot the whole history chart.
POC will be the largest block displayed, indicating the time point of control
Gray areas are closes above the average
Black are Void or imbalance that price will fill in the future, like FVG
The image above shows an incorrect size input that will lead to bad calculations, while on the other side, a correct size input that will lead to a clear vision and better calculation.
🔶 WINDOWS
The "▲▼" Mode will display delta buyers and delta sellers coloring with voids as black.
It also offers a gradient mode for a beautier visualization
The "Total Volume" mode will display the net volume within the lot size (closes within the levels).
This is useful to spot possible highest net volume within the same highest lot size.
The "POC + Gaps" will show both POC and Gaps as the highest block while all the rest will be considered as the smaller block.
This is useful to see where the highest lot were and if there are higher or lower imbalances within the candle
The last option "Gaps" will simply display the gaps as the highest block, while the POC as the lowest block.
This is useful to have a better view of the gaps areas
🔶 EXAMPLE
This is one of the most basic examples of how this script can be used. POC at the bottom creating a strong support area as price holds and creates higher voids gap that price fills while rising.
🔶 SETTINGS
Users have full control over the script, from colors to choosing the lower-timeframe inputs to disabling the lot size.
GOLD MonitorI'm using this platform from sometime and I carry out trading on Gold, using a kind of scalping strategy.
Scalping is not an easy task to do. Personally I found a lot of problems while detecting the trend direction.
So I decided to develop an indicator that is capable, in a discrete way, to give an instant-view on the market that is interesting.
This indicator can summarize in a small table all interesting figures related to gold scalping trading and is useful while joined with technical and fundamental analysis.
In this way it is possible to easy take under control all important aspects related to gold trading that I summarize here and you can find inside the table:
1) Gold / USD current direction
2) USD dollar strength (instant DXY) indicator take under consideration the DXY value every each tick and measures the increase or decrease in percentage. If there is a decrease the indicator displays a red low arrow, if there is an increase the indicator displays a green high arrow
also Gold friends are important so it is possible to find also:
3) NZDUSD (that is a Gold friend) variation percentage. If there is a decrease the indicator displays a red low arrow, if there is an increase the indicator displays a green high arrow
4) AUDUSD (that is a Gold friend) variation percentage. If there is a decrease the indicator displays a red low arrow, if there is an increase the indicator displays a green high arrow
then it is possible to find DXY USD dollar strength calculated between previous period (e.g. in timeframe M5 last 5 minutes) and current period (current 5 minutes). This indication is represented by an high arrow if there has been an increase, or by an low arrow if there has been a decrease.
Last but not least the information about the Gold trend itself with the possible forecast for the current period. This information must be carefully interpreted together with other instruments for technical analysis like Fibonacci lines.
buyer_seller_scalping_indicatorThis code is a custom script designed for analyzing trading volume within a specific time window on the TradingView platform. It offers a comprehensive analysis of buying and selling activity during a defined period and provides visual aids and data summaries for traders to make informed decisions. Here's a detailed breakdown of its functionality and how to use it:
1. Custom Time Period: The script starts by allowing you to specify a custom time period for analysis. In this example, it's set from 04:00 to 09:29. You can modify these time values to suit your specific trading needs.
2. Volume Calculation: The script calculates buying and selling volume based on price levels. It takes into account the open, high, low, and close prices to determine whether buying or selling pressure is dominant during the specified time frame.
3. Total Volume Calculation: It calculates the total volume within the custom time period. This can help you gauge the overall activity and liquidity during the chosen time window.
4. Visualizations: The script then plots visual elements on the chart:
- A volume histogram, which provides a graphical representation of the total volume during the time period.
- Buying and selling volume indicators, which are shown as circles on the chart, highlighting the relative strength of buyers and sellers.
- An average volume line, represented in gray, which helps you identify the average trading volume over a 50-period moving average.
5. Volume Type Determination: The script determines whether buyers or sellers dominate the market during the specified time period. It labels this as "Buyers Volume > Sellers Volume," "Sellers Volume > Buyers Volume," or "Buyers Volume = Sellers Volume." This information can be crucial for assessing market sentiment.
6. Percentage Breakdown: The script calculates the percentage of buying and selling volume in relation to the total volume, helping you understand the distribution of market participants. These percentages are displayed in a table.
7. Table Display: Finally, the script creates a table that displays the following information:
- The current volume type (buyers, sellers, or balanced), with corresponding text colors.
- The percentage of buyers and sellers in the market.
How to Use:
1. Copy the script and add it as a custom script on TradingView.
2. Apply the script to your desired financial chart.
3. Adjust the custom time period if needed.
4. Interpret the visual elements and table to gain insights into market sentiment and volume distribution during the specified time frame.
5. Use this information to inform your trading decisions and strategies, especially when trading within the chosen time window.
This script is a valuable tool for traders seeking to understand market dynamics and volume behavior during specific trading hours, ultimately aiding in more informed trading decisions.
Disclaimer:
The indicator provided herein is experimental and has not undergone comprehensive testing. Its usage is solely at your own risk.
The publisher assumes no responsibility for any trading decisions made based on the utilization of this indicator.
RenkoIndicatorIntroduction:
The Renko Indicator is a powerful tool designed to help traders identify trends and potential trade opportunities in the financial markets. This indicator overlays a Renko chart on the main price chart and generates Buy and Sell signals based on Renko brick movements. Renko charts are unique in that they focus solely on price movements, ignoring the element of time. In this guide, we will walk you through how to use the Renko Indicator effectively in your trading strategy.
Indicator Components:
The Renko Indicator consists of several components, each serving a specific purpose in aiding your trading decisions.
Market Sentiment Calculation:
At the top of the script, the indicator calculates market sentiment by analyzing recent price action. It determines whether the market sentiment is Bullish, Bearish, or Neutral based on the highest and lowest prices within specific time periods. This information provides you with a broader context for potential trading decisions.
Renko Chart Creation:
The indicator creates a Renko chart overlay on the main price chart using the Average True Range (ATR) method. ATR is used to calculate the brick size for the Renko chart, allowing you to adjust the sensitivity of the chart to price movements.
Renko Open and Close Midpoint:
The script plots the midpoint of Renko open and close prices as a line on the main chart. This visualization helps you understand the direction of Renko bricks and identify trends.
Buy and Sell Signal Generation:
The script generates Buy and Sell signals as label shapes on the chart. A Buy signal is generated when the Renko close price crosses above the Renko open price, indicating potential upward momentum. Conversely, a Sell signal is generated when the Renko close price crosses below the Renko open price, suggesting potential downward momentum.
Alert Conditions:
To ensure you never miss a trading opportunity, the script sets up alert conditions for Buy and Sell signals. These alerts notify you when the specified conditions for potential trades are met. Alerts can be customized to your preference, allowing you to receive notifications via your chosen communication channels.
How to Use the Renko Indicator:
Market Sentiment Analysis:
Start by analyzing the calculated market sentiment. This information helps you understand the broader trend in the market. A Bullish sentiment indicates potential upward movement, a Bearish sentiment suggests potential downward movement, and a Neutral sentiment signals uncertainty.
Renko Chart Interpretation:
Observe the Renko chart overlay and its midpoint line. Upward-trending Renko bricks suggest Bullish momentum, while downward-trending bricks indicate Bearish momentum. Use the Renko chart to identify trends and confirm your trading bias.
Buy and Sell Signals:
Pay close attention to the Buy and Sell signals generated by the indicator. A Buy signal occurs when the Renko close price crosses above the Renko open price. Conversely, a Sell signal occurs when the Renko close price crosses below the Renko open price. These signals highlight potential entry points for trades.
Alert Notifications:
Make use of the alert conditions to receive real-time notifications for Buy and Sell signals. Alerts help you stay informed even when you're not actively watching the charts, allowing you to promptly take action on potential trade opportunities.
Risk Management and Considerations:
Confirmation: While the Renko Indicator provides valuable insights, it's crucial to use it in conjunction with other technical and fundamental analysis tools for confirmation.
Backtesting: Before implementing the indicator in live trading, conduct thorough backtesting on historical data to assess its performance and suitability for your trading strategy.
Position Sizing: Determine appropriate position sizes based on your risk tolerance and the signals provided by the indicator. Avoid overleveraging your trades.
Market Conditions: Be mindful of market conditions and news events that could impact price movements. Use the Renko Indicator as a tool to enhance your decision-making process, not as a standalone strategy.
Conclusion:
The Renko Indicator offers a unique perspective on price movements and can be a valuable addition to your trading toolkit. By analyzing market sentiment, interpreting Renko chart patterns, and acting on Buy and Sell signals, you can make informed trading decisions. Remember to practice proper risk management and integrate the Renko Indicator into a comprehensive trading strategy to achieve consistent and successful trading outcomes.
OSPL Volume [Community Edition]NSE:BANKNIFTY1!
This indicator is based on the concepts popularized by @OptionsScalper123 "Siva" of OiPulse. His ideology Is that large moves come after high volume candles. For Nifty, high volume is considered to be a candle above 125k volume and for BankNifty it’s 50k.
This indicator allows you to cut the noise and focus only on the high volume candle. It shows high volume candle in a brighter shade and lower volume candles in a less visible shade.
You can set the minimum volume threshold limit for Nifty and BankNifty. The indicator smartly recognizes which index you are using it in and uses the respective threshold volume limit.
All colors are customizable.
Thanks for Siva for all the ideas and wonderful products he has given to the community
Thanks to all the wonderful Pinescipters for developing awesome indicators and keeping the source open.
The source code of this indicator is just a few lines. Hope you can use it in your projects and learn something from this just how I learned from other scripts.
Any changes or updates needed in this indicator, please suggest. I was thinking some kind of alerts can be added when volume crosses the threshold. Let me know.
Boost/like this indicator and comment if you find this useful. Cheers and happy trading!!!
Scalp Pump-Dump Detector with AlertsThis script displays the percentage of movement of all candles on the chart, as well as identifying abnormal movements to which you can attach alerts. An abnormal movement is considered a rise or fall that exceeds the parameter set in the settings (by default, 1% per 1 bar).
Added a function to display the volume on abnormal candlesticks.
Trading Session TemplateDescription:
The Trading Session Template Indicator is a powerful script that allows traders to customize their own trading session time range on a chart. With this indicator, you have the flexibility to define specific hours during which you prefer to focus your trading activities. The example chart showcases the New York session hours, but you can easily adapt it to any desired time range based on your trading strategy and preferences.
Key Features:
Customizable Trading Session: The indicator empowers you to define your own trading session time range, tailored to your preferred market sessions or specific trading hours. This flexibility ensures that the indicator aligns with your unique trading strategy.
Highlighted Trading Session: When a new trading day begins, the script automatically scans for the specified time range. Once the first candle within the range begins printing, the background color of the chart is highlighted, indicating the beginning of the trading session. When the last candle within the range is closed, the background color returns to normal.
Focus on Specific Market Sessions: This indicator is particularly useful for traders who prefer to trade certain market sessions or specific hours during the day. By customizing the trading session, you can better align your trading activities with specific market conditions and trading opportunities.
Candle Pattern Detection: The indicator includes the ability to detect candle patterns such as Doji, Engulfing, Hammer, and Shooting Star. You can activate the desired candle patterns and set up alerts for them. When an alert is triggered, indicating the formation of a specific candle pattern, you can further analyze the market and make informed trading decisions.
ATR Filter: The indicator offers an ATR (Average True Range) filter to limit noise and focus on candle patterns with a size comparable to the ATR. You can set a minimum and maximum size for a candle compared to the ATR. This helps you filter out smaller or larger candles that may not align with your trading preferences.
Stop Loss (SL) and Take Profit (TP) Levels: When a candle pattern is detected, based on the ATR, the indicator can display suggested Stop Loss and Take Profit levels. This feature provides additional guidance for risk management and potential profit targets.
User-Friendly Interface: The indicator provides a user-friendly interface with adjustable settings and switches for customization. Tooltips are available to guide you through the various options and configurations, making it easy to adapt the indicator to your trading style and preferences.
Note:
The Trading Session Template Indicator is designed for timeframes lower than 1D. It does not plot any information on timeframes of 1D and higher.
Disclaimer:
The Trading Session Template Indicator is provided for informational and educational purposes only. Trading in the financial markets involves risk, and you should only trade with funds that you can afford to lose. The indicator's past performance is not indicative of future results. Always conduct your own research and due diligence before making any investment decisions. The creator of this indicator shall not be held responsible for any losses or damages incurred from the use of this indicator.
3 Fib EMAs To Scalp Them AllThe "3 Fib EMAs To Scalp Them All" was made in order to clear up when we should look for shorts, longs, or walk away. Also it can alert you when a trend starts, or when there is a possible reversal. I use it for scalping/day trading in 5m-1h timeframes.
1. EMAs: By default, the indicator uses Fibonacci numbers (21, 55, 233), but you can change them.
2. Color Changes: The color of the Micro EMA line changes depending on its relation to the Mid and Macro EMAs.
When Micro EMA < Mid < Macro EMA, it turns red, indicating a potential bearish trend - that's when you should look for shorts
When Micro EMA > Mid > Macro EMA, it turns green, indicating a potential bullish trend - that's when you should look for longs
A white Micro EMA is when you need to take some rest, enjoy your coffee, and avoid overtrading.
3. Signals: The indicator provides visual signals in the form of diamonds and crosses and corresponding alert signals.
A red diamond above the bar signals a potential beginning of a downtrend
A red cross above the bar signals the end of the downtrend and can be used as a signal for a possible reversal up/breakout.
A green diamond below the bar signals a potential beginning of a downtrend,
A green cross below the bar signals the end of the uptrend and can be used as a signal for a possible reversal down/breakout.
4. Alerts: For algo traders and people who prefer to stay away from the monitor... there are alerts for every signal.
Friendly note: Don't blindly follow the signals for your long and short entries. The signals only pop up when the EMA cross value gets a confirmation. A smart move would be to wait for a retracement to the EMA line and use momentum indicators like market cipher B to pinpoint those ideal entry points.
LNL Scalper ArrowsLNL Scalper Arrows
The indicator consist of various different types of candlestick patterns that are truly time tested by multiple veteran traders. These arrows are a combination of short-term scalping strategies taught by Linda Raschke & a trader that goes by name Quant Trade Edge. These strategies/patterns occur regularly within the markets. They offer high probability quick moves during the trending days. These four patterns are based on pure price action, no oscillators, no trend, no momentum indicators involved. Trend (ema) is there just as a simple trend gauge.
LNL Scalper Arrows were designed specifically for intra-day trading. Mostly useful for the futures but also stocks as well. These arrows can work anywhere between the fast-moving 512 or 1600 tick charts to a 1min, 2min and up to 5min or 10min charts.
Trend Gauge (Exponential Moving Average)
Nothing fancy just a classic EMA that can guide the direction of the short-term trend. I have added a custom coloring of the EMA that is based on a simple RSI filter. That should help to visualize the non-directional moments within the trend. Although the length is adjustable, for scalping it is better to focus on smaller periods such as 9, 13 or 20 or 34 but anything above 50 loses its purpose as a short-term trend gauge. Again, this is a scalping tool not a trend tool, you are not going to get rid of the fakeouts by increasing the period of the trend.
Tail Arrows (Eat the Tail Pattern)
Tail is a candlestick that is either a price rejection spike, or a flag continuation pattern on a lower time frame. A failed action. It is basically a candle with much bigger wick (shadow) of the candle than the actual body. Such candles are usually telling us about strong participation from the other side of the market. Eat the tail pattern occurs whenever the low of the Tail candle is immediately broken on a following candle "the tail is eaten alive". Such a breaks occurs in a most aggressive types of markets with a strong momentum. DO NOT try to trade this in a low volume or a ranging market. Tail Arrows are the most aggressive arrows & should be only used on the highest volume or a parabolic momentum markets.
Scalp Arrows (Scallop Pattern)
Known as Scallops or minor lows or highs, these patterns are the most common within the all scalper arrows. They occur regularly on 1min & 5min charts - basically everyday. Scallops provide the best possible risk to reward entry within the trend without the need of any indicators or oscillators. The Scallop Up 3 bar pattern consist of a high that is lower that the previous high but also low that is lower than the previous low. Scallop Up or a minor low triggers when the last high is broken, creating a three bar mountain or a peak within the 5 bar span.
Hoagie Arrows (Hoagie Pattern)
Hoagies occur way less often than any other scalping patterns. Hoagies represent two (or more) inside candles within the shadow of a first candle. Such a formation is creating a small compression or a range that sooner or later breaks out. The hoagie is triggered whenever the high or low of the shadow (first) candle is broken. The great thing about the hoagies is that they can work either way despite the trend direction. Although this indicator is coded for the 2 bar hoagies, there are no limitations on how much inside bars can hoagie include.
Umbrella Arrows (Umbrella Pattern)
Another really awesome 3 bar pattern that is really fun to trade. Umbrella occurs when the candle before the previous candle is a pin bar or a tail bar and the body of the previous candle is within the shadow or a wick of the candle before. The umbrella is triggered once the high or low of the previous bar is broken. Umbrellas are more frequent than Hoagies but occur much less than the Scallops.
Outside Bar Wedges (Outside Bar Pattern)
Pretty much self-explanatory candlestick pattern. Outside Bar is basically any bar that peaks outside of the both ends of the previous candle. So the range of the candle is higher & it looked beyond the high and beyond the low of the previous candle. These candles are signalizing the potenial momentum change. Ouside Bars usually occur at the tops or bottoms of the moves. I decided to add them because they can serve as a great addition to these scalping patterns.
Signal vs. SignalBreak Mode
The trigger can be viewed in two different ways:
1. Signal: Plots the trigger before the trigger bar, basically right when the pattern is formed but NOT YET triggered. The signal is triggered once the next candle break the high or low of the current candle.
2. SignalBrake: Plots the trigger after the break of the high or low of the actual pattern. It is basically a candle after the signal candle. (Signal is better for trading because it gives you time to prepare for the actual break of the high or low = the actual signal. SignalBrake is great for looking back in history only for the patterns that actually traded).
Pin Bar BTW Ratio
Pin Bar (Body-To-Wick) Ratio represents the size of the body of a pin bar candle for Eat the Tail and Umbrella patterns. Pin Bar BTW Ratio measures the ratio between the wick & the body of the candle. Ref. interval is 2.0 - 5.0 (ideal pin bar is 2.0 - 3.0 = the wick or a shadow is 2x - 3x bigger than the body of the candle)
ATR Stop & Target Labels
I also created three simple labels (tables) that can show you the ideal target & stop as well as the current ATR. Since LNL Scalper Arrows consist of high probability scalping patterns, a good rule of thumb to follow is to use a half of the current ATR as a target and a current ATR as a stop (or two times the target). So if the current 7 period ATR is 30 the target would be 15 pts. and a stop around 30 pts. With such a risk management you should aim for a win rate 70% or higher. Obviously you can adjust the risk management in the settings to your personal preference.
Low Range vs. High Range Markets
There are two major downsides with the Scalper Arrows:
1. You need volume and a volatility. These patterns really do struggle in ranging "boring" sideways action. It is absolutely crucial to recognize the current market environment and really stay cautions and (or completely out) in case the chop continues. Adding something like DMI can help you recognize the potential flat markets.
2. Not only do you need volume & momentum, you also need a decent range. This indicator works better on a rangy market such as NQ futures or YM. But are much tougher to trade on lower range markets such as some stocks or ZB futures or basically any other lower range market.
Hope it helps.
NSDT Fair Value GapThis script is our version of the "Fair Value Gap".
A Fair Value Gap is nothing more than a series of 3 candles with a gap between a candle high/low and a candle high/low two candles prior.
For example:
A Gap Up - the Low of a candle is higher than the High of two candles back.
A Gap Down - the High of a candle is lower than the Low of two candles back.
Typically, on a Gap Up, the trader would wait for the price to re-enter the Gap, and take a Long position.
Typically, on a Gap Down, the trader would wait for the price to re-enter the Gap, and take a Short position.
We found that simply trading through the Gaps (fill the gap) produced a better result. So we reversed the procedure and the colors to show our suggested direction.
We have added inputs so the trader can determine the size of the Gaps to be plotted on the chart. A minimum and maximum can be set.
The number of Gaps to be displayed can be adjusted.
There is a option to remove Gaps that had been filled, to help keep a clean chart.
WillyCycle Oscillator&DoubleMa/ErkOzi/version 2This oscillator can be customized by adjusting the length of the Willy period, the length of Willy's EMA, and the upper and lower bands. The upper and lower bands help traders identify overbought and oversold conditions.
The WillyCycle Oscillator is a technical analysis tool used to measure the momentum of an asset and identify overbought and oversold conditions based on the price range of a specific period and calculating the percentage of the closing price in that range. The WillyCycle Oscillator consists of two main components: Willy and Willy's EMA. The Willy component is the percentage calculation of the asset's price range, and Willy's EMA is the exponential moving average of the Willy component. Willy's EMA is used to smooth out the Willy component and make it easier to identify trends.
*** When the oscillator is above the 80 level, it indicates that the asset is overbought, and when it is below the 20 level, it indicates that the asset is oversold. Traders can use these levels as a guide for buying and selling signals.
***Traders can also use the WillyCycle Oscillator to identify trend reversals. When the oscillator rises above the 50 level, it signals a potential uptrend, and when it falls below the 50 level, it signals a potential downtrend.
***I have added a smoothed line option to the WillyCycle Oscillator, which allows traders to see a more smoothed version of the oscillator. This option can be enabled by setting the 'smoothed' input to true. The default value for the smoothed line is 15.
***We have also changed the value range of the WillyCycle Oscillator from -100 to 100 to 0 to 100. This change was made to make the oscillator more user-friendly and easier to read.
In conclusion, the WillyCycle Oscillator is a versatile tool that can help traders identify potential trading opportunities and trend reversals. Traders can customize the oscillator to fit their trading style and preferences. Adding a smoothed line and changing the value range can enhance the user experience and make the oscillator easier to use.
Drip's 11am rule breakout/breakdown (OG)This indicator is based on Drippy2hard's 11:30 am (EST) rule.
In simple terms the rule states that:
If a trending stock makes a new high after 11:15-11:30am EST, there is a 75% chance of closing within 1% of High of day (HOD). Same applies for downtrend.
Please note:
Not all stocks will abide by this, this is backtested on stocks with avg daily volume > 2M and mostly mega cap stocks which have liquid option chains. The backtesting results show very promising results on $SPY/ $SPX so it is advised to trade $SPY/ $SPX using this indicator over any other stocks.
Although the name suggests 11 AM rule, the backtesting shows higher win rate for 11:30 AM so please select that option in the settings.
As always, no indicator is perfect and please follow your risk management and understand that indicators are tools to aid your trading and by no means they are supposed to work as intended in all scenarios
How the script works
1. A HOD/LOD zone is identified based on regular session (9:30am-11:30am) EST. Users can select cut off time to 11AM in the settings. These will be indicated on chart after 11/11:30pm depending on what user selected
2. If the stock breaks above the HOD and the ADX is showing strong momentum to upside then the candlesticks will start showing neon color, if the trend based on moving averages and candle closing is also bullish then the indicator will show trend arrows under the candle indicating to stay in the trade. Same applies for break below LOD, only the colors will change to represent downtrend.
3. An optional cloud is also shown if the trend is developed. The cloud can be used as trail stop or re entry point as long as it is displayed on chart
How to use the indicator in trading
In general, there are three scenarios which are trade worthy
1. If the stocks breaks out above the HOD zone and up trend develops or the stocks breaks below the LOD zone and downtrend develops. See images below
2. You can also use the LOD/HOD zone as demand/ supply if the Price action is range bound like this example below
Thanks for reading, please give thumbs up if you like using it! Please post comments on how to use it.
Setup 123 ScalperSetup 123 Scalper is characterized by a bottom (buy pattern formed by 3 candles where the 2nd has the lowest minimum) or a top (sell pattern formed by 3 candles where the 2nd has the highest maximum). It has a filter that only shows the signal when the asset is trending. Setup popularized by trader Alexandre Wolwacz (Stormer).
Na linguagem do autor:
O Setup 123 Scalper é caracterizado por um fundo (padrão de compra formado por 3 candles onde o 2º tem a menor mínima) ou um topo (padrão de venda formado por 3 candles onde o 2º tem a maior máxima). Possui um filtro em que só mostra o sinal quando o ativo está em tendência. Setup popularizado pelo trader Alexandre Wolwacz (Stormer).
ATR PivotsThe "ATR Pivots" script is a technical analysis tool designed to help traders identify key levels of support and resistance on a chart. The indicator uses various metrics such as the Average True Range (ATR), Daily True Range ( DTR ), Daily True Range Percentage (DTR%), Average Daily Range (ADR), Previous Day High ( PDH ), and Previous Day Low ( PDL ) to provide a comprehensive picture of the volatility and movement of a security. The script also includes an EMA cloud and 200 EMA for trend identification and a 1-minute ATR scalping strategy for traders to make informed trading decisions.
ATR Detail:-
The ATR is a measure of the volatility of a security over a given period of time. It is calculated by taking the average of the true range (the difference between the high and low of a security) over a set number of periods. The user can input the number of periods (ATR length) to be used for the ATR calculation. The script also allows the user to choose whether to use the current close or not for the calculation. The script calculates various levels of support and resistance based on the relationship between the security's range ( high-low ) and the ATR. The levels are calculated by multiplying the ATR by different Fibonacci ratios (0.236, 0.382, 0.5, 0.618, 0.786, 1.000) and then adding or subtracting the result from the previous close. The script plots these levels on the chart, with the -100 level being the most significant level. The user also has an option to choose whether to plot all Fibonacci levels or not.
DTR and DTR% Detail:-
The Daily True Range Percentage (DTR%) is a metric that measures the daily volatility of a security as a percentage of its previous close. It is calculated by dividing the Daily True Range ( DTR ) by the previous close. DTR is the range between the current period's high and low and gives a measure of the volatility of the security on a daily basis. DTR% can be used as an indicator of the percentage of movement of the security on a daily basis. In this script, DTR% is used in combination with other metrics such as the Average True Range (ATR) and Fibonacci ratios to calculate key levels of support and resistance for the security. The idea behind using DTR% is that it can help traders to better understand the daily volatility of the security and make more informed trading decisions.
For example, if a security has a DTR% of 2%, it suggests that the security has a relatively low level of volatility and is less likely to experience significant price movements on a daily basis. On the other hand, if a security has a DTR% of 10%, it suggests that the security has a relatively high level of volatility and is more likely to experience significant price movements on a daily basis.
ADR:-
The script then calculates the ADR (Average Daily Range) which is the average of the daily range of the security, using the formula (Period High - Period Low) / ATR Length. This gives a measure of the average volatility of the security on a daily basis, which can be useful for determining potential levels of support and resistance .
PDH /PDL:-
The script also calculates PDH (Previous Day High) and PDL (Previous Day Low) which are the High and low of the previous day of the security. This gives a measure of the previous day's volatility and movement, which can be useful for determining potential levels of support and resistance .
EMA Cloud and 200 EMA Detail:-
The EMA cloud is a technical analysis tool that helps traders identify the trend of the market by comparing two different exponential moving averages (EMAs) of different lengths. The cloud is created by plotting the fast EMA and the slow EMA on the chart and filling the space between them. The user can input the length of the fast and slow EMA , and the script will calculate and plot these EMAs on the chart. The space between the two EMAs is then filled with a color that represents the trend, with green indicating a bullish trend and red indicating a bearish trend . Additionally, the script also plots a 200 EMA , which is a commonly used long-term trend indicator. When the fast EMA is above the slow EMA and the 200 EMA , it is considered a bullish signal, indicating an uptrend. When the fast EMA is below the slow EMA and the 200 EMA , it is considered a bearish signal, indicating a downtrend. The EMA cloud and 200 EMA can be used together to help traders identify the overall trend of the market and make more informed trading decisions.
1 Minute ATR Scalping Strategy:-
The script also includes a 1-minute ATR scalping strategy that can be used by traders looking for quick profits in the market. The strategy involves using the ATR levels calculated by the script as well as the EMA cloud and 200 EMA to identify potential buy and sell opportunities. For example, if the 1-minute ATR is above 11 in NIFTY and the EMA cloud is bullish , the strategy suggests buying the security. Similarly, if the 1-minute ATR is above 30 in BANKNIFTY and the EMA cloud is bullish , the strategy suggests buying the security.
Inside Candle:-
The Inside Candle is a price action pattern that occurs when the current candle's high and low are entirely within the range of the previous candle's high and low. This pattern indicates indecision or consolidation in the market and can be a potential sign of a trend reversal. When used in the 15-minute chart, traders can look for Inside Candle patterns that occur at key levels of support or resistance. If the Inside Candle pattern occurs at a key level and the price subsequently breaks out of the range of the Inside Candle, it can be a signal to enter a trade in the direction of the breakout. Traders can also use the Inside Candle pattern to trade in a tight range, or to reduce their exposure to a current trend.
Risk Management:-
As with any trading strategy, it is important to practice proper risk management when using the ATR Pivots script and the 1-minute ATR scalping strategy. This may include setting stop-loss orders, using appropriate position sizing, and diversifying your portfolio. It is also important to note that past performance is not indicative of future results and that the script and strategy provided are for educational purposes only.
In conclusion, the "ATR Pivots" script is a powerful tool that can help traders identify key levels of support and resistance , as well as trend direction. The additional metrics such as DTR , DTR%, ADR, PDH , and PDL provide a more comprehensive picture of the volatility and movement of the security, making it easier for traders to make better trading decisions. The inclusion of the EMA cloud and 200 EMA for trend identification, and the 1-minute ATR scalping strategy for quick profits can further enhance a trader's decision-making process. However, it is important to practice proper risk management and understand that past performance is not indicative of future results.
Special thanks to satymahajan for the idea of clubbing Average True Range with Fibonacci levels.
Dual Bollinger Band Mean ReversionSimple but solid mean reversion indicator with sl and tp levels. Most of the code is based on the built in bollinger bands script. Designed for scalping 1-5 minute timeframes.
The indicator consists of two sets of bollinger bands.
Price has to close below the lower (fast) bollinger band, above the moving average of the (slower) bollinger band.
If price now closes above the lower (fast) bb, the indicator draws a label at the open of the next candle (which would be a potential entry point). Take profit becomes the upper bollinger band, stop loss the same distance below the open of the candle.
I've built in a simple backtesting function that calculates the potential win/loss-ratio. Loss and profit levels are 1:1. Exit strategy could be improved on.
Adjusting the lengths depending on the asset proves to be a good idea.
The slower bollinger bands can help to identify ranging markets and/or trends following regular bollinger bands theory.
Feel free to comment with any changes that you'd like to be made.
HMA Breakout Buy/Sell indicator for Scalping & Intraday - ShyamHi All,
This is a very simple indicator which provides the buy signal, when the moving average lines turns Green and sell signal, when the moving average signal turns red. This can be used for both intraday and scalping method with different timeframes. But best time frame is 5 minutes.
Buy Signal >>> Line turns GREEN (Use trailing SL to cover maximum profit)
Sell Signal >>> Line turns RED (Use trailing SL to cover maximum profit)
No trade >>> Line turns GRAY
Best timeframe >>> 5 minutes
Thanks,
Shyam
Entry helperHello traders,
This is a script I use daily as a scalper and it helps me a lot, maybe it can help you, this is why I am sharing it!
PART 1 - DESCRIPTION
This program is specifically designed to help scalpers but can be used for all types of trading but won't be as useful.
This script is what I call an entry helper as it calculates dynamically the position size, stop loss and take profit levels and more.
When scalping and placing market entry orders, the price can move significantely while you are calculating your position size according to your stop loss, capital, risk and especially close price that changes very quickly, this results in a risk that is not ideally controlled and personally was a source of frustration and stress. I wanted to enter my quantity and stop loss values as fast as possible and make the process easier.
This script automates the calculation of the position size, stop loss and take profit levels according the the users input and prints the data visibly on the screen so it is easy to copy by the trader. It allows the trader to be confident that his risk is as controlled as possible.
The script is easy to use and set up, this guide will help you if you have any difficulies or questions.
PART 2 - HOW TO USE THE SCRIPT
- SET THE CAPITAL SETTINGS
1 - Set your capital value in $
- SET THE TRADE SETTINGS
2 - Set your trade side (BUY or SELL)
3 - Set you desired risk in % of your capital
- ENTRY SETTINGS
4 - Set your entry from 2 different options
|MARKET| (default option)
This option will place the entry level at the last available price
|LIMIT|
This option allows you to input a fixed price level for the entry
- STOP LOSS SETTINGS
5 - Select your stop loss placement from 4 different options
|EXTREMA STOP LOSS| (default option)
This option will place the stop loss at the highest/lowest (extrema) price level within the last N candles
|ATR EXTREMA|
This option uses the same price level as the EXTREMA STOP LOSS but will add/soustract the last ATR value (calculated on the N last candles) multiplied by a coefficient that you input
|TICKS EXTREMA|
This option uses the same price level as the EXTREMA STOP LOSS but will add/soustract a number of ticks that you input
|PRICE LEVEL|
This option allows you to input a fixed price level for the stop loss
- TAKE PROFIT SETTINGS
6 - Select your take profit from 3 different options
|NONE| (default option)
This option will not display any take profit level, I have added this option as I don't have take profit targets
|RR|
This option uses a risk to reward ratio (reward/risk) that you input, it will automatically calculate the take profit level that corresponds
|PRICE LEVEL|
This option allows you to input a fixed price level for the take profit
- QUANTITY AND FEE SETTINGS
7 - Set the quantity settings, it represents the quantity in a lot (usually 100 000 in forex, 100 in stocks 1 for crypto currencies)
8 - Set the fee per quantity (turning lot)
- VISUAL SETTINGS
9 - Show or remove the tab
- TAB SETTINGS
10 - Select the data that you want to display in the tab (the tab will adapt automatically)
NOTES:
The vertical dashed line shows what candle has been used for the calculation of the stop loss, it allows you to visualize what candle the script has selected in case of an EXTREMA stop loss option.
I hope this helps you out! Any suggestions are welcome and I hope that the guide is clear enough.
Happy trading!
TMO ScalperTMO - (T)rue (M)omentum (O)scillator) MTF Scalper Version
TMO Scalper is a special custom version of the popular TMO Oscillator. Scalper version was designed specifically for the lower time frames (1-5min intraday scalps). This version prints in the signals directly on top of the oscillator only when the higher aggregations are aligned with the current aggregation (the big wheels must be spinning in order for a small wheel to spin). The scalper consist of three MTF TMO oscillators. First one is the one that plot signals (should be the fastest aggregation), second serves as a short term trend gauge (good rule of thumb is to us 2-5x of the chart time frame or the first aggregation). The third one (optional) is shaded in the background & should only serve as a trend gauge for the day (usually higher time frames 30min+).
Time Frames Preffered by Traders:
1. 1m / 5m / 30m - This one is perfect for catching the fastest moves. However, during choppy days the 1min can produce more false signals..
2. 2m / 10m / 30m - Healthy middle, the 2min aggregation nicely smooths out the 1min mess. Short term gauge is turning slowly (10min for a signal to confirm).
3. 3m / 30m / 60m - This TF is awesome for day traders that prefer to take it slow. Obviously, this combination will produce far less signals during the day.
Hope it helps.
Swing Oscillator [AstrideUnicorn]The Swing Oscillator is an indicator that can help you catch small price movements, called swings. Swings are minor trends that occur when price moves between the highs and lows of a trend or range. Because of the short-term nature of swings, a new movement should be identified as soon as possible.
The indicator is based on our original formula, which averages the length of candlestick bodies and compares the result to several thresholds. This allows the algorithm to determine the direction and strength of the price movement.
HOW TO USE
When the indicator is above the zero level and colored green, it means that the price is in an upward swing. When the indicator is below the zero level and colored red, the price is in a downward swing. When the indicator is blue, the price swing is slowing down or the market is moving sideways. The amplitude of the oscillator shows the price volatility.
