Helacator Ai ThetaHelacator Ai Theta is a state-of-the-art advanced script. It helps the trader find the possibility of a trend reversal in the market. By finding that point at which the three black crows pattern combines with the three white soldiers pattern, it is the most cherished pattern in technical analysis for its signal of strong bullish or bearish momentum. Therefore, it is a very strong predictive tool in the ability of shifting markets.
Key Highlights: Three White Soldiers and Three Black Crows Patterns
The script identifies these candlestick formations that consist of three consecutive candles, either bullish (Three White Soldiers) or bearish (Three Black Crows). These patterns help the trader identify possible trend reversal points as they provide an early signal of a change in the market direction. It is with great care that the script is written to evaluate the position and relationship between the candlesticks for maintaining the accuracy of pattern recognition. Moving Averages for Trend Filtering:
Two important ones used are moving averages for filtering any signals not in accordance with the general trend. The length of these MAs is variable, allowing the traders to be in a position to adapt the script for use under different market conditions. The moving averages ensure that signals are only taken in the direction that supports the general market flow, so it leads to more reliability within the signals. The MAs are not plotted on the chart for the sake of clarity, but they still perform a crucial function in signal filtering and can be displayed optionally for a more detailed investigation. Cooldown filter to reduce over-trading
This is part of what is implemented in the script to prevent generation of consecutive signals too quickly. All this helps to reduce market noise and not overtrade—only when market conditions are at their best. The cooldown period can be set to be adjusted according to the trader's preference, making the script more versatile in its use. Practical Considerations: Educational Purpose: This script is for educational purposes only and should be part of a comprehensive trading approach. Proper risk management techniques should be observed while at the same time taking into consideration prevailing market conditions before making any trading decision.
No Guaranteed Results: The script is aimed at bringing signal accuracy into improvement to align with the broader market trend and reducing noise, but past performance cannot guarantee future success. Traders should use this script within their broad trading approach. Clean and Simple Chart Display: The primary goal of this script is to have a clear and simple display on the chart. The signals are prominently marked with "BUY" and "SELL," and the color of the bars has changed according to the last signal, thus traders can easily read the output. Community and Open Source Open Source Contribution: This script is open for contribution by the TradingView community. Any suggestions regarding improvements are highly welcomed. Candlestick patterns, moving averages, and the combination of the cooldown filter are presented in such a way as to give traders something special, and any modifications or extra touch by the community is appreciated. Attribution and Transparency: The script is based on standard technical analysis principles and for all parts inspired by or derivated from other available open-source scripts, credit is given where it is due. In this way, transparency ensures that the script adheres to TradingView's standards and promotes a collaborative community environment.
Cerca negli script per "N+credit最新动态"
OrderBlock Trend (CISD)OrderBlock Trend (CISD) Indicator
Overview:
The "OrderBlock Trend (CISD)" AKA: change in state of delivery by ICT inner circle trader this indicator is designed to help traders identify and visualize market trends based on higher timeframe candle behavior. This script leverages the concept of order blocks, which are price levels where significant buying or selling activity has occurred, to signal potential trend reversals or continuations. By analyzing bullish and bearish order blocks on a higher timeframe, the indicator provides visual cues and statistical insights into the market's current trend dynamics.
Key Features:
Higher Timeframe Analysis: The indicator uses a higher timeframe (e.g., Daily) to assess the trend direction based on the open and close prices of candles. This approach helps in identifying more significant and reliable trend changes, filtering out noise from lower timeframes.
Bullish and Bearish Order Blocks: The script detects the first bullish or bearish candle on the selected higher timeframe and uses these candles as reference points (order blocks) to determine the trend direction. A bullish trend is indicated when the current price is above the last bearish order block's open price, and a bearish trend is indicated when the price is below the last bullish order block's open price.
Visual Trend Indication: The indicator visually represents the trend using background colors and plot shapes:
A green background and a square shape above the bars indicate a bullish trend.
A red background and a square shape above the bars indicate a bearish trend.
Candle Count and Statistics: The script keeps track of the number of up and down candles during bullish and bearish trends, providing percentages of up and down candles in each trend. This data is displayed in a table, giving traders a quick overview of market sentiment during each trend phase.
User Customization: The higher timeframe can be adjusted according to the trader's preference, allowing flexibility in trend analysis based on different time horizons.
Concepts and Calculations:
The "OrderBlock Trend (CISD)" indicator is based on the concept of order blocks, a key area where institutional traders are believed to place large orders, creating significant support or resistance levels. By identifying these blocks on a higher timeframe, the indicator aims to highlight potential trend reversals or continuations. The use of higher timeframe data helps filter out minor fluctuations and focus on more meaningful price movements.
The candle count and percentage calculations provide additional context, allowing traders to understand the proportion of bullish or bearish candles within each trend. This information can be useful for assessing the strength and consistency of a trend.
How to Use:
Select the Higher Timeframe: Choose the higher timeframe (e.g., Daily) that best suits your trading strategy. The default setting is "D" (Daily), but it can be adjusted to other timeframes as needed.
Interpret the Trend Signals:
A green background indicates a bullish trend, while a red background indicates a bearish trend. The corresponding square shapes above the bars reinforce these signals.
Use the information on the proportion of up and down candles during each trend to gauge the trend's strength and consistency.
Trading Decisions: The indicator can be used in conjunction with other technical analysis tools and indicators to make informed trading decisions. It is particularly useful for identifying trend reversals and potential entry or exit points based on the behavior of higher timeframe order blocks.
Customization and Optimization: Experiment with different higher timeframes and settings to optimize the indicator for your specific trading style and preferences.
Conclusion:
The "OrderBlock Trend (CISD)" indicator offers a comprehensive approach to trend analysis, combining the power of higher timeframe order blocks with clear visual cues and statistical insights. By understanding the underlying concepts and utilizing the provided features, traders can enhance their trend detection and decision-making processes in the markets.
Disclaimer:
This indicator is intended for educational purposes and should be used in conjunction with other analysis methods. Always perform your own research and risk management before making trading decisions.
Some known bugs when you switch to lower timeframe while using daily timeframe data it didn't use the daily candle close to establish the trend change but your current time frame If some of you know how to fix it that would be great if you help me to I would try my best to fix this in the future :) credit to ChatGPT 4o
CRT Hourly/15m dividers and opensRange Separator is a unique tool designed to help traders visualize critical price levels and ranges on their charts. This script employs the innovative concepts of "Candles Are Ranges" and the "Power of 3 (PO3)" to enhance trading strategies by marking key time intervals and price levels.
What the Script Does:
Hourly Lines:
Automatically draws vertical lines at the start of each hour.
Provides an option to display only the current hour's line for a cleaner visual.
Allows customization of line color, width, and style.
15-Minute Lines:
Adds vertical lines at 15-minute intervals to highlight smaller time ranges.
Includes an option to draw horizontal lines at the 15-minute interval prices.
Offers customization for line color, width, and style.
Horizontal Lines:
Draws horizontal lines based on the opening, high, or low price of the selected timeframe.
Customizable options for line color, width, and style.
How the Script Works:
Candles Are Ranges: Each candle represents a price range (OHLC) on any timeframe. The script visually emphasizes these ranges, helping traders understand price action better.
Power of 3 (PO3): This concept divides price delivery into three stages: formation, turtle soup (stop hunting), and distribution/expansion. The script marks these intervals, aiding in identifying potential key levels for entries and exits.
How to Use the Script:
Adding the Script:
Apply the script to your chart and adjust the settings in the input menu.
Customize the appearance of hourly and 15-minute lines to suit your preference.
Analyzing the Chart:
Observe the hourly lines to determine higher timeframe biases.
Use 15-minute lines to identify more granular price movements.
Pay attention to horizontal lines that mark significant price levels based on your chosen criteria (open, high, low).
Trading Strategy:
Combine the script's visual aids with your understanding of the "Candles Are Ranges" and "Power of 3" concepts.
Use these visual cues to make informed decisions about potential entry and exit points.
What Makes it Original:
Integration of Candles Are Ranges and PO3 Concepts: Unlike traditional scripts that merely plot lines, this script uniquely integrates two powerful trading theories to provide a comprehensive view of price action.
Customizable Visual Aids: Offers extensive customization options for line colors, widths, and styles, allowing traders to tailor the script to their specific needs.
Enhanced Timeframe Analysis: By marking both hourly and 15-minute intervals, the script provides a detailed view of price ranges across multiple timeframes, enhancing the trader's ability to make informed decisions.
- Key script Parameters
Show Hourly Lines: Toggles the display of vertical lines marking each hour.
Hourly Lines Color: Sets the color of the hourly vertical lines.
Hourly Lines Width: Chooses the width of the hourly vertical lines (1, 2, or 3).
Hourly Lines Style: Selects the style of the hourly lines (Solid, Dashed, or Dotted).
Horizontal Line Color: Defines the color of the horizontal lines drawn at hourly intervals.
Horizontal Line Width: Determines the width of the horizontal lines (1, 2, or 3).
Horizontal Line Style: Sets the style of the horizontal lines (Solid, Dashed, or Dotted).
Horizontal Line Start Price: Specifies which price (Open, High, Low) the horizontal lines will start from.
Show Current Hour Only: Limits the display to only the current hour's horizontal line.
Show 15-Minute Lines: Toggles the display of vertical lines marking each 15-minute interval.
15-Minute Lines Color: Sets the color of the 15-minute vertical lines.
15-Minute Lines Width: Chooses the width of the 15-minute vertical lines (1, 2, or 3).
15-Minute Lines Style: Selects the style of the 15-minute lines (Solid, Dashed, or Dotted).
Show 15-Minute Horizontal Lines: Toggles the display of horizontal lines at 15-minute intervals.
15-Minute Horizontal Lines Color: Defines the color of the horizontal lines drawn at 15-minute intervals.
15-Minute Horizontal Lines Width: Determines the width of the horizontal lines (1, 2, or 3).
15-Minute Horizontal Lines Style: Sets the style of the horizontal lines (Solid, Dashed, or Dotted).
Important Notes:
- Credit to @Yazdanian and his basic "Hourly separators" indicator that plots a simple vertical line every hour which provided the idea for this version and expanded on
- This script is designed to complement your trading strategy by providing visual aids and should be used alongside other technical analysis tools.
It is not intended to issue buy or sell signals but to help you understand price ranges and potential key levels.
Disclaimer: The script is provided as-is, and the authors are not responsible for any trading losses incurred using this script. Always perform your own analysis and use proper risk management.
Macro Risk On/Off SentimentOverview
As an Ichimoku trader, I've always found it crucial to understand the broader market sentiment before entering trades. That's why I developed this Macro Risk On/Off Sentiment Indicator. It's designed to provide a comprehensive view of global market risk sentiment by analysing multiple factors across different asset classes. By combining nine key market indicators, it produces an overall risk sentiment score, giving me a clearer picture of the market's mood before I apply my Ichimoku strategy.
Rationale
While Ichimoku is powerful for identifying trends and potential entry points, I realised it doesn't always capture the broader market context. Markets don't exist in isolation—they're influenced by a myriad of factors including volatility, economic indicators, and cross-asset relationships. By creating this indicator, I aimed to fill that gap, providing myself with a macro view that complements my Ichimoku analysis.
How It Works
The indicator analyses nine different market factors:
VIX (Volatility Index): Measures market expectations of near-term volatility.
S&P 500 Performance: Represents the overall US stock market performance.
US 10-Year Treasury Yield: Indicates bond market sentiment and economic outlook.
Gold Price Movement: Often seen as a safe-haven asset.
US Dollar Index: Measures the strength of the USD against a basket of currencies.
Emerging Markets Performance: Represents risk appetite for higher-risk markets.
High Yield Bond Spreads: Indicates credit market risk sentiment.
Copper/Gold Ratio: An economic growth indicator.
Put/Call Ratio: Measures overall market sentiment based on options trading.
Each factor is assigned a score based on its z-score relative to its recent history, then weighted according to its perceived importance. The overall risk score is a weighted average of these individual scores.
How I Use It
Before applying my Ichimoku strategy, I first check this indicator to gauge the overall market sentiment:
I look at the blue line plotted on the chart, which represents the overall risk score.
I note the background colour: green for risk-on (positive score) and red for risk-off (negative score).
I check the label in the lower-left corner, which provides specific FX pair recommendations and market expectations.
In a risk-on environment (positive score):
I focus on long positions in AUD/JPY, NZD/JPY, EUR/USD, etc.
I look for short opportunities in USD/CAD, USD/NOK, etc.
I expect commodities and yields to rise
In a risk-off environment (negative score):
I focus on long positions in USD/JPY, USD/CHF, USD/CAD
I look for short opportunities in AUD/USD, NZD/USD, EUR/USD
I expect increased volatility and falling yields
The strength of the sentiment is reflected in how close the score is to either 1 (strong risk-on) or -1 (strong risk-off). This helps me gauge how aggressive or conservative I should be with my Ichimoku trades.
Customisation
I've designed this indicator to be flexible. You can modify it to:
Adjust the lookback period and moving average length (both default to 30)
Change the weighting of different factors in the final score calculation
Include or exclude specific factors based on your analysis needs
By combining this Macro Risk On/Off Sentiment Indicator with my Ichimoku analysis, I've found I can make more informed trading decisions, taking into account both the technical setups I see on the chart and the broader market context.
Flush Percent RangeFans of Woodies CCI may recognize the approach to this one. This is my attempt at using the same methods but for taking the highs and lows into account without the standard deviation of the CCI. The smoothness of other oscillators may not be ideal however the Williams Percent Range is a fast stochastic that also operates within a channel. This provides an alternative yet still complex view for the virtuoso. A unique feature is total utilization of the weighted moving average, from the standard to the more complex. A fun fact is the Hull Moving Average is actually calculated using weighted moving averages.
How to use:
The base length is for accuracy, the fast length is for catching all the moves(even the wrong ones sometimes.)
The bars back option will not flip the histogram/base trend to its bullish/bearish alternative until the base plot remains on the latter half of the oscillator for a certain number of bars. This can be set to zero if desired.
The factor controls the chop on the various levels. A higher number will increase it.
The oscillator levels are measuring slope, price relative to the average, and a summation of percent changes between the two. Both the baseline/histogram and the levels have color coding for bullishness, bearishness, and indecision(depending on the factor.) The fast line matches the indecision color by default. This is all customizable.
There are many potential ways to trade with this indicator. From hooks back toward the trend and range line crossovers to divergence and reversals. It's important to note the current performance of the oscillator levels. Time cycles may come in handy along with other forecasting tools.
Lastly, there are optional linear regression lines plotted on the chart. They're synchronized to the lengths in the oscillator. This is an additional visual aid to provide context to the direction of the channel.
Overall the Flush Percent Range is for analyzing multiple regression models within a single price channel. No smoothing, fast averages, and specified timeframes of highs/lows. Credit to Larry Williams for the original calculation and Ken Woods for design/methodology inspiration.
Moving Average CyclesMoving Average Cycles Indicator
Description:
The Moving Average Cycles indicator is a versatile tool designed to help traders identify and analyze bullish and bearish cycles based on price movements relative to a moving average. This indicator offers valuable insights into market trends and potential reversal points.
Key Features:
Customizable Moving Average: Users can adjust the MA period and resolution (Daily, Weekly, Monthly) to suit their trading style.
Cycle Identification: The indicator tracks bull and bear cycles, providing visual cues through color-coded histograms.
Comprehensive Metrics: A detailed table displays crucial cycle statistics, including:
Current cycle information (candles and % distance from MA)
Maximum and average cycle lengths (in candles)
Maximum and average percentage distances from the MA
How to Use:
Apply the indicator to your chart and adjust the MA period and resolution as needed.
Green histograms represent bullish cycles, while red histograms indicate bearish cycles.
Use the metrics table to gain insights into historical cycle behavior and current market positioning.
This indicator is designed to complement your existing trading strategy by providing a clear visual representation of market cycles and detailed statistical information. It can be particularly useful for identifying potential trend reversals and gauging the strength of current trends compared to the past.
Note: Past performance does not guarantee future results. This indicator is meant for informational purposes only and should not be considered as financial advice. Always combine multiple analysis tools and conduct your own research before making trading decisions.
This script is published as open-source under the Mozilla Public License 2.0. Feel free to use and modify it, but please provide appropriate credit if you build upon this work.
I hope you find this Moving Average Cycles indicator helpful in your trading journey. If you have any questions or suggestions for improvement, please feel free to leave a comment below.
Directional Movement Index DEThis script uses the existing built-in DMI indicator but adds two lines indicating strength of the ADX trend. The original author J. Welles Wilder, indicated a ADX trending strongly above 25 (yellow by default), and ADX trending weaker at a threshold of 20 or below (dashed yellow by default).
The default colours have been changed so that ADX is yellow, +DI is green, and -DI is red.
Calculation
Calculating the DMI can actually be broken down into two parts. First, calculating the +DI and -DI, and second, calculating the ADX. To calculate the +DI and -DI you need to find the +DM and -DM (Directional Movement). +DM and -DM are calculated using the High, Low and Close for each period. You can then calculate the following:
Current High - Previous High = UpMove
Previous Low - Current Low = DownMove
If UpMove > DownMove and UpMove > 0, then +DM = UpMove, else +DM = 0
If DownMove > Upmove and Downmove > 0, then -DM = DownMove, else -DM = 0
Once you have the current +DM and -DM calculated, the +DM and -DM lines can be calculated and plotted based on the number of user defined periods.
+DI = 100 times Exponential Moving Average of (+DM / Average True Range)
-DI = 100 times Exponential Moving Average of (-DM / Average True Range)
Now that -+DX and -DX have been calculated, the last step is calculating the ADX.
ADX = 100 times the Exponential Moving Average of the Absolute Value of (+DI - -DI) / (+DI + -DI)
The basics
DMI has a value between 0 and 100 and is used to measure the strength of the current trend. +DI and -DI are then used to measure direction. When combined, the indicator can provide some valuable insight. A general interpretation would be that during a strong trend (ADX above 25 but dependent on the analyst's interpretation), when the +DI is above the -DI, then a Bullish Market is defined. When -DI is above +DI, then a Bearish Market is at hand.
One thing to be considered is that what DMI values determine, strength or a potential signal, is up to the trader's interpretation. Acceptable values may change depending on the financial instrument being examined, therefore some historical analysis of the instrument in question would be prudent. A technical analyst can make better decisions based on what has occurred in historical examples.
All credit goes to the original script .
Adaptive Trend Lines [MAMA and FAMA]Updated my previous algo on the Adaptive Trend lines, however I have added new functionalities and sorted out the settings.
You can now switch between normalized and non-normalized settings, the colors have also been updated and look much better.
The MAMA and FAMA
These indicators was originally developed by John F. Ehlers (Stocks & Commodities V. 19:10: MESA Adaptive Moving Averages). Everget wrote the initial functions for these in pine script. I have simply normalized the indicators and chosen to use the Laplace transformation instead of the hilbert transformation
How the Indicator Works:
The indicator employs a series of complex calculations, but we'll break it down into key steps to understand its functionality:
LaplaceTransform: Calculates the Laplace distribution for the given src input. The Laplace distribution is a continuous probability distribution, also known as the double exponential distribution. I use this because of the assymetrical return profile
MESA Period: The indicator calculates a MESA period, which represents the dominant cycle length in the price data. This period is continuously adjusted to adapt to market changes.
InPhase and Quadrature Components: The InPhase and Quadrature components are derived from the Hilbert Transform output. These components represent different aspects of the price's cyclical behavior.
Homodyne Discriminator: The Homodyne Discriminator is a phase-sensitive technique used to determine the phase and amplitude of a signal. It helps in detecting trend changes.
Alpha Calculation: Alpha represents the adaptive factor that adjusts the sensitivity of the indicator. It is based on the MESA period and the phase of the InPhase component. Alpha helps in dynamically adjusting the indicator's responsiveness to changes in market conditions.
MAMA and FAMA Calculation: The MAMA and FAMA values are calculated using the adaptive factor (alpha) and the input price data. These values are essentially adaptive moving averages that aim to capture the current trend more effectively than traditional moving averages.
But Omar, why would anyone want to use this?
The MAMA and FAMA lines offer benefits:
The indicator offers a distinct advantage over conventional moving averages due to its adaptive nature, which allows it to adjust to changing market conditions. This adaptability ensures that investors can stay on the right side of the trend, as the indicator becomes more responsive during trending periods and less sensitive in choppy or sideways markets.
One of the key strengths of this indicator lies in its ability to identify trends effectively by combining the MESA and MAMA techniques. By doing so, it efficiently filters out market noise, making it highly valuable for trend-following strategies. Investors can rely on this feature to gain clearer insights into the prevailing trends and make well-informed trading decisions.
This indicator is primarily suppoest to be used on the big timeframes to see which trend is prevailing, however I am not against someone using it on a timeframe below the 1D, just be careful if you are using this for modern portfolio theory, this is not suppoest to be a mid-term component, but rather a long term component that works well with proper use of detrended fluctuation analysis.
Dont hesitate to ask me if you have any questions
Again, I want to give credit to Everget and ChartPrime!
Code explanation as required by House Rules:
fastLimit = input.float(title='Fast Limit', step=0.01, defval=0.01, group = "Indicator Settings")
slowLimit = input.float(title='Slow Limit', step=0.01, defval=0.08, group = "Indicator Settings")
src = input(title='Source', defval=close, group = "Indicator Settings")
input.float: Used to create input fields for the user to set the fastLimit and slowLimit values.
input: General function to get user inputs, like the data source (close price) used for calculations.
norm_period = input.int(3, 'Normalization Period', 1, group = "Normalized Settings")
norm = input.bool(defval = true, title = "Use normalization", group = "Normalized Settings")
input.int: Creates an input field for the normalization period.
input.bool: Allows the user to toggle normalization on or off.
Color settings in the code:
col_up = input.color(#22ab94, group = "Color Settings")
col_dn = input.color(#f7525f, group = "Color Settings")
Constants and functions
var float PI = math.pi
laplace(src) =>
(0.5) * math.exp(-math.abs(src))
_computeComponent(src, mesaPeriodMult) =>
out = laplace(src) * mesaPeriodMult
out
_smoothComponent(src) =>
out = 0.2 * src + 0.8 * nz(src )
out
math.pi: Represents the mathematical constant π (pi).
laplace: A function that applies the Laplace transform to the source data.
_computeComponent: Computes a component of the data using the Laplace transform.
_smoothComponent: Smooths data by averaging the current value with the previous one (nz function is used to handle null values).
Alpha function:
_computeAlpha(src, fastLimit, slowLimit) =>
mesaPeriod = 0.0
mesaPeriodMult = 0.075 * nz(mesaPeriod ) + 0.54
...
alpha = math.max(fastLimit / deltaPhase, slowLimit)
out = alpha
out
_computeAlpha: Calculates the adaptive alpha value based on the fastLimit and slowLimit. This value is crucial for determining the MAMA and FAMA lines.
Calculating MAMA and FAMA:
mama = 0.0
mama := alpha * src + (1 - alpha) * nz(mama )
fama = 0.0
fama := alpha2 * mama + (1 - alpha2) * nz(fama )
Normalization:
lowest = ta.lowest(mama_fama_diff, norm_period)
highest = ta.highest(mama_fama_diff, norm_period)
normalized = (mama_fama_diff - lowest) / (highest - lowest) - 0.5
ta.lowest and ta.highest: Find the lowest and highest values of mama_fama_diff over the normalization period.
The oscillator is normalized to a range, making it easier to compare over different periods.
And finally, the plotting:
plot(norm == true ? normalized : na, style=plot.style_columns, color=col_wn, title = "mama_fama_diff Oscillator Normalized")
plot(norm == false ? mama_fama_diff : na, style=plot.style_columns, color=col_wnS, title = "mama_fama_diff Oscillator")
Example of Normalized settings:
Example for setup:
Try to make sure the lower timeframe follows the higher timeframe if you take a trade based on this indicator!
RSI Screener / Heatmap - By LeviathanThis script allows you to quickly scan the market by displaying the RSI values of up to 280 tickers at once and visualizing them in an easy-to-understand format using labels with heatmap coloring.
📊 Source
The script can display the RSI from a custom timeframe (MTF) and custom length for the following data:
- Price
- OBV (On Balance Volume)
- Open Interest (for crypto tickers)
📋 Ticker Selection
This script uses a different approach for selecting tickers. Instead of inputting them one by one via input.symbol(), you can now copy-paste or edit a list of tickers in the text area window. This approach allows users to easily exchange ticker lists between each other and, for example, create multiple lists of tickers by sector, market cap, etc., and easily input them into the script. Full credit to @allanster for his functions for extracting tickers from the text. Users can switch between 7 groups of 40 tickers each, totaling 280 tickers.
🖥️ Display Types
- Screener with Labels: Each ticker has its own color-coded label located at its RSI value.
- Group Average RSI: A standard RSI plot that displays the average RSI of all tickers in the group.
- RSI Heatmap (coming soon): Color-coded rows displaying current and historical values of tickers.
- RSI Divergence Heatmap (coming soon): Color-coded rows displaying current and historical regular/hidden bullish/bearish divergences for tickers.
🎨 Appearance
Appearance is fully customizable via user inputs, allowing you to change heatmap/gradient colors, zone coloring, and more.
Trend Regression Kernel [IkkeOmar]Kernel by @jdehorty huge shoutout to him! This is only an idea for how I use it when trading
All credit for the kernel goes to him, I did not make the kernel! I don't know how to make it more clear.
I use this to assist with top-down analysis.
timeframe I want to trade : timeframe to analyse with white noise and kernel:
1m : 1H
5m : 2H
15m : 4H
1H : 1D
In the chart you see that I have the 1H open, I use the white noise at a "lower setting length" (55 in this case), I change the source of to be the kernel on the higher timeframe. When a new trend is detected by the White noise I wait for price to retest the kernel before building a position. Another case described below:
Here i use the adaptive MCVF (I have made this free for everyone on TradingView) to buy when price is below the kernel while the trend for the white noise is bullish .
Notice that the Kernel is set on the 4H timeframe! The source of the white noise is the kernel!
Here is an example in a bearish trend:
Notice, I am on the 5m chart, kernel uses the 2H chart and the source of the white noise is the kernel.
I use the adaptive MCVF to help me get entries AFTER the first touch of the kernel.
Mandatory code explanation, with respect to the house rules:
Input settings:
Input Settings:
The script provides various input parameters to customize the indicator:
src: The source of price data, defaulted to closing prices.
h, r, x_0: Parameters for Kernel 1.
h2, r2, x_2: Parameters for Kernel 2.
Kernel Regression Functions:
Two functions kernel_regression1 and kernel_regression2 are defined to perform kernel regression calculations.
These functions estimate the trend using the Nadaraya-Watson kernel non-parametric regression method.
They take the source data (_src), the size of the data series (_size), and the lookback window (_h) as inputs.
They iterate over the data series and calculate the weighted sum of the values based on the specified kernel parameters.
The result is divided by the cumulative weight to obtain the estimated value.
Estimations:
The kernel_regression1 and kernel_regression2 functions are called with the respective parameters to estimate trends (yhat1 and yhat2).
Buy and Sell Signals:
Buy and sell signals are generated based on crossover and crossunder conditions between the two trend estimates (yhat1 and yhat2).
buySignal is true when yhat1 crosses above yhat2.
SellSignal is true when yhat1 crosses below yhat2.
Plotting:
The average of the two trend estimates (yhat1 and yhat2) is calculated and plotted.
The color of the plot is determined based on whether yhat1 is greater than yhat2, less than yhat2, or equal to yhat2.
Buy and sell signals are plotted using triangle shapes below and above bars, respectively.
Alerts:
Alert conditions are set based on buy and sell signals. Alerts are triggered when a crossover (long signal) or crossunder (short signal) occurs.
The alerts include information about the signal type, symbol, and price.
It's important to mention that the buy and sell signals from the indicator is very discretionary, I rarely use them, and if I do it's if they are in confluence with a correction i am biased towards or if it has confluence with some of my other systems.
The adaptive MCVF and White noise is free for everyone on TradingView, linked below:)
Huge shoutout to @jdehorty, original kernel below:
Candle Close TrendFirst of all, a huge credit to Wade for all the help with this indicator. An absolute Legend!
The idea behind this indicator is to identify a potential trend with simply the close of candles.
If a candle closes above the previous candle High, the trend would be "bullish" and remain bullish until there is a candle that closes below the previous candle Low. The opposite is true for a "bearish" trend.
As always, this is NOT intended to be used by itself, but with other TA.
For cleanest results, I find it best to use with the candle borders turned off in the chart settings but that is just my preference.
Works on all timeframes.
Commitments of Traders Report [Advanced]This indicator displays the Commitment of Traders (COT) report data in a clear, table format similar to an Excel spreadsheet, with additional functionalities to analyze open interest and position changes. The COT report, published weekly by the Commodity Futures Trading Commission (CFTC), provides valuable insights into market sentiment by revealing the positioning of various trader categories.
Display:
Release Date: When the data was released.
Open Interest: Shows the total number of open contracts for the underlying instrument held by selected trader category.
Net Contracts: Shows the difference between long and short positions for selected trader category.
Long/Short OI: Displays the long and short positions held by selected trader category.
Change in Long/Short OI: Displays the change in long and short positions since the previous reporting period. This can highlight buying or selling pressure.
Long & Short Percentage: Displays the percentage of total long and short positions held by each category.
Trader Categories (Configurable)
Commercials: Hedgers who use futures contracts to manage risk associated with their underlying business (e.g., producers, consumers).
Non-Commercials (Large Speculators): Speculative traders with large positions who aim to profit from price movements (e.g., hedge funds, investment banks).
Non-Reportable (Small Speculators/Retail Traders): Smaller traders with positions below the CFTC reporting thresholds.
CFTC Code: If the indicator fails to retrieve data, you can manually enter the CFTC code for the specific instrument. The code for instrument can be found on CFTC's website.
Using the Indicator Effectively
Market Sentiment Gauge: Analyze the positioning of each trader category to gauge overall market sentiment.
High net longs by commercials might indicate a bullish outlook, while high net shorts could suggest bearish sentiment.
Changes in open interest and long/short positions can provide additional insights into buying and selling pressure.
Trend Confirmation: Don't rely solely on COT data for trade signals. Use it alongside price action and other technical indicators for confirmation.
Identify Potential Turning Points: Extreme readings in COT data, combined with significant changes in open interest or positioning, might precede trend reversals, but exercise caution and combine with other analysis tools.
Disclaimer
Remember, the COT report is just one piece of the puzzle. It should not be used for making isolated trading decisions. Consider incorporating it into a comprehensive trading strategy that factors in other technical and fundamental analysis.
Credit
A big shoutout to Nick from Transparent FX ! His expertise and thoughtful analysis have been a major inspiration in developing this COT Report indicator. To know more about this indicator and how to use it, be sure to check out his work.
Shadow Range IndexShadow Range Index (SRI) introduces a new concept to calculate momentum, shadow range.
What is range?
Traditionally, True Range (TR) is the current high minus the current low of each bar in the timeframe. This is often used successfully on its own in indicators, or as a moving average in ATR (Average True Range).
To calculate range, SRI uses an innovative calculation of current bar range that also considers the previous bar. It calculates the difference between its maximum upward and maximum downward values over the number of bars the user chooses (by adjusting ‘Range lookback’).
What is shadow range?
True Range (TR) uses elements in its calculation (the highs and lows of the bar) that are also visible on the chart bars. Shadow range does not, though.
SRI calculates shadow range in a similar formula to range, except that this time it works out the difference between the minimum upward and minimum downward movement. This movement is by its nature less than the maximums, hence a shadow of it. Although more subtle, shadow range is significant, because it is quantifiable, and goes in one direction or another.
Finally, SRI smoothes shadow range and plots it as a histogram, and also smoothes and plots range as a signal line. Useful up and down triangles show trend changes, which optionally colour the chart bars.
Here’s an example of a long trade setup:
In summary, Shadow Range Index identifies and traces maximum and minimum bar range movement both up and down, and plots them as centred oscillators. The dynamics between the two can provide insights into the chart's performance and future direction.
Credit to these authors, whose MA or filters form part of this script:
@balipour - Super Smoother MA
@cheatcountry - Hann window smoothing
@AlgoAlpha - Gaussian filter
RSI Market Regime FinderThe Relative Strength Index Market Regime
Imagine the RSI as a tool that helps you figure out if a stock or any other asset is overbought or oversold. It’s like trying to see if a party is too crowded or too empty.
The RSI measures the speed and change of price movements. When it’s high, like above 70, it suggests that the asset might be overbought. Think of it like everyone rushing in to buy the latest cool thing, and maybe it’s getting a bit too popular. On the flip side, if the RSI is low, below 30, it implies that the asset might be oversold. This is like when nobody wants to go to a party, and it might be a good time to check it out because things could pick up.
Now, why does this matter? Well, it gives you a hint about potential reversals in the market. If something is overbought, it might be time for a cool-down, and if it’s oversold, there might be a chance for a comeback. Traders often use RSI to get a sense of whether an asset is in a strong trend or if it’s about to change direction. So, in a nutshell, RSI is like a party meter for the market. It helps you gauge if things are getting too wild or if it’s a bit quiet, giving you a heads-up on potential changes in the market vibe.
Creating the Regime Detection Indicator
A market regime is essentially the prevailing state or condition of the financial markets at a given time. It’s like saying the market can have different modes or phases, just like a person can be happy, sad, or somewhere in between.
Now, these market regimes can be broadly categorized based on trends. Imagine a market in a strong upward trend — everyone’s feeling optimistic, prices are going up, and it’s like a bull (that’s the term for a rising market) is running around.
On the flip side, if the market is in a downtrend, it’s like a bear (that’s the term for a falling market) is dominating. People might be a bit more cautious, prices are dropping, and it’s generally a less optimistic atmosphere.
The tricky part is that markets aren’t always in a clear-cut bull or bear state. Sometimes they’re just moving sideways, not going up or down much. That’s another market regime, often called a “sideways” or “range-bound” market.
The conditions of the creation of the indicator follow these assumptions:
A bullish regime is taking place whenever the RSI is above 50 but below 75 while the last three RSI values were above 46.
A bearish regime is taking place whenever the RSI is below 50 but above 25 while the last three RSI values were below 54.
The script is super simple to use. Basically, whenever the green line is in progress, a bullish regime is taking place, and whenever the red line is in progress, a bearish regime is taking place.
Long strategies fit well within a bullish regime while short strategies fit well within a bearish regime.
All the credit for this script goes to Sofien Kaabar. He graciously provided the code and I'm passing along his work.
Market Health MonitorThe Market Health Monitor is a comprehensive tool designed to assess and visualize the economic health of a market, providing traders with vital insights into both current and future market conditions. This script integrates a range of critical economic indicators, including unemployment rates, inflation, Federal Reserve funds rates, consumer confidence, and housing market indices, to form a robust understanding of the overall economic landscape.
Drawing on a variety of data sources, the Market Health Monitor employs moving averages over periods of 3, 12, 36, and 120 months, corresponding to quarterly, annual, three-year, and ten-year economic cycles. This selection of timeframes is specifically chosen to capture the nuances of economic movements across different phases, providing a balanced view that is sensitive to both immediate changes and long-term trends.
Key Features:
Economic Indicators Integration: The script synthesizes crucial economic data such as unemployment rates, inflation levels, and housing market trends, offering a multi-dimensional perspective on market health.
Adaptability to Market Conditions: The inclusion of both short-term and long-term moving averages allows the Market Health Monitor to adapt to varying market conditions, making it a versatile tool for different trading strategies.
Oscillator Thresholds for Recession and Growth: The script sets specific thresholds that, when crossed, indicate either potential economic downturns (recessions) or periods of growth (expansions), allowing traders to anticipate and react to changing market conditions proactively.
Color-Coded Visualization: The Market Health Monitor employs a color-coding system for ease of interpretation:
-- A red background signals unhealthy economic conditions, cautioning traders about potential risks.
-- A bright red background indicates a confirmed recession, as declared by the NBER, signaling a critical time for traders to reassess risk exposure.
-- A green background suggests a healthy market with expected economic expansion, pointing towards growth-oriented opportunities.
Comprehensive Market Analysis: By combining various economic indicators, the script offers a holistic view of the market, enabling traders to make well-informed decisions based on a thorough understanding of the economic environment.
Key Criteria and Parameters:
Economic Indicators:
Labor Market: The unemployment rate is a critical indicator of economic health.
High or rising unemployment indicates reduced consumer spending and economic stress.
Inflation: Key for understanding monetary policy and consumer purchasing power.
Persistent high inflation can lead to economic instability, while deflation can signal weak
demand.
Monetary Policy: Reflected by the Federal Reserve funds rate.
Changes in the rate can influence economic activity, borrowing costs, and investor
sentiment.
Consumer Confidence: A predictor of consumer spending and economic activity.
Reflects the public’s perception of the economy
Housing Market: The housing market often leads the economy into recession and recovery.
Weakness here can signal broader economic problems.
Market Data:
Stock Market Indices: Reflect overall investor sentiment and economic
expectations. No gains in a stock market could potentially indicate that economy is
slowing down.
Credit Conditions: Indicated by the tightness of bank lending, signaling risk
perception.
Commodity Insight:
Crude Oil Prices: A proxy for global economic activity.
Indicator Timeframe:
A default monthly timeframe is chosen to align with the release frequency of many economic indicators, offering a balanced view between timely data and avoiding too much noise from short-term fluctuations. Surely, it can be chosen by trader / analyst.
The Market Health Monitor is more than just a trading tool—it's a comprehensive economic guide. It's designed for traders who value an in-depth understanding of the economic climate. By offering insights into both current conditions and future trends, it encourages traders to navigate the markets with confidence, whether through turbulent times or in periods of growth. This tool doesn't just help you follow the market—it helps you understand it.
Catching Trend Reversals by shorting tops and buying bottomsHOLP (High of the low period) and LOHP (Low of the high period)
Catching Trend Reversals by shorting tops and buying bottoms
using this Swing High/Low Indicator
Trading Strategy comes from Mastering the Trade, by John Carter pg 300.
Trading Rules for Sells, Buys are reversed
1. Identifying a trending market, where today's price is making a 20-day high (17-18 day highs are also fine)
Note this is configurable by setting the trending period variable (defaults to 20)
For example if price is making a 20 period high or 20 period low, it will show a triangle up/down above the candle.
2. Identify the high bar in the uptrend
3. Go short once the price action closes below the low of this high bar
4. The initial stop is the high of the high bar.
5. If you are in the trade on the third day or period, use a 2 bar trailing stop.
You can check 2-bar trailing stop to draw the line, defaults to off.
Stop is indicated by the white dot.
Code Converted from TradeStation EasyLanguage
I can't find the original source anymore for the swing high/low plots, but if someone knows,
let me know and I'll credit here.
BreakoutTrendFollowingINFO:
The "BreakoutTrendFollowing" indicator is a comprehensive trading system designed for trend-following in various market environments. It combines multiple technical indicators, including Moving Averages (MA), MACD, and RSI,
along with volume analysis and breakout detection from consolidation, to identify potential entry points in trending markets. This strategy is particularly effective for assets that exhibit strong trends and significant price movements.
Note that using the consolidation filter reduces the amount of entries the strategy detects significantly, and needs to be used if we want to have an increased confidence in the trend via breakout.
However, the strategy can be easily transformed to various only trend-following strategies, by applying different filters and configurations.
The indicator can be used to connect to the Signal input of the TTS (TempalteTradingStrategy) by jason5480 in order to backtest it, thus effectively turning it into a strategy (instructions below in TTS CONNECTIVITY section)
DETAILS:
The strategy's core is built upon several key components:
Moving Average (MA): Used to determine the general trend direction. The strategy checks if the price is above the selected MA type and length.
MACD Filter: Analyzes the relationship between two moving averages to confirm the trend's momentum.
Consolidation Detection: Identifies periods of price consolidation and triggers trades on breakouts from these ranges.
Volume Analysis: Assesses trading volume to confirm the strength and validity of the breakout.
RSI: Used to avoid overbought conditions, ensuring trades are entered in favorable market situations.
Wick filters: make sure there is not a long wick that indicates selling pressure from above
The strategy generates buy signals when several conditions are met concurrently (each one of them can be individually enabled/disabled)"
The price is above the selected MA.
A breakout occurs from a configurable consolidation range.
The MACD line is above the signal line, indicating bullish momentum.
The RSI is below the overbought threshold.
There's an increase in trading volume, confirming the breakout's strength.
Currently the strategy fires SL signals, as the approach is to check for loss of momentum - i.e. crossunder of the MACD line and signal line, but that is to everyone to determine the exit conditions.
The buy and SL signals are set on the chart using green or orange triangles on the below/above the price action.
SETTINGS:
Users can customize various parameters, including MA type and period, MACD settings, consolidation length, and volume increase percentage. The strategy is equipped with alert conditions for both entry (buy signals) and exit (set stop loss) points, facilitating both manual and automated trading.
Each one of the technical indicators, as well as the consilidation range and breakout/wick settings can be configured and enabled/disabled individually.
Please thoroughly review the available settings of the script, but here is an outline of the most important ones:
Use bar wicks (instead of open/close) - the ref_high/low will be taken based on the bar wicks, rather than the open/close when determining the breakout and MA
Enter position only on green candles - additional filters to make sure that we enter only on strong momentum
MA Filter: (enable, source, type, length) - general settings for MA filter to be checked against the stock price (close or upper wick)
MACD Filter: (enable, source, Osc MA type, Signal MA type, Fast MA length, Slow MA length, Low MACD Hist) - detailed settings for fine MACD tuning
Consolidation:
Consolidation Type: we have two different ways of detecting the consolidation, note the types below.
CONSOLIDATION_BASIC - consolidation areas by looking for the pivot point of a trend and counts the number of bars that have not broken the consolidation high/low levels.
CONSOLIDATIO_RANGE_PERCENT - identifies consolidation by comparing the range between the highest and lowest price points over a specified period.
So in summary the CONSOLIDATIO_RANGE_PERCENT uses a percentage-based range to define consolidation, while CONSOLIDATION_BASIC uses a count of bars within a high-low range to establish consolidation.
Thus the former is more focused on the tightness of the price range, whereas the latter emphasizes the duration of the consolidation phase.
The CONSOLIDATIO_RANGE_PERCENT might be more sensitive to recent price movements and suitable for shorter-term analysis, while CONSOLIDATION_BASIC could be better for identifying longer-term consolidation patterns.
Min consolidation length - applicable for CONSOLIDATION_BASIC case, the min number of bars for the price to be in the range to consider consolidation
Consolidation Loopback period - applicable for CONSOLIDATION_BASIC case, the loopback number of bars to look for consolidation
Consolidation Range percent - applicable for CONSOLIDATIO_RANGE_PERCENT, the percent between the high and low in the range to consider consolidation
Plot consolidation - enables plotting of the consolidation (only for debug purposes)
Breakout: (enable, low, high) - the definition of the breakout from the previous consolidation range, the price should be between to determine the breakout as successfull
Upper wick: (enable, percent) - defines the percent of the upper wick compared to the whole candle to allow breakout (if the wick is too big part of the candle we can consider entering the position riskier)
RSI: (enable, length, overbought) - general settings for RSI TA
Volume (enbale, percentage increase, average volume filter en, loopback bars) - percentage of increase of the volume to consider for a breakout. There are two modes - percentage increase compared to the previous bar, or percentage against the average volume for the last loopback bars.
Note that there are many different configuration that you can play with, and I believe this is the strength of the strategy, as it can provide a single solution for different cases and scenarios.
My advice is to try and play with the different options for different markets based on the approach you want to implement and try turning features on/off and tuning them further.
TTS SETTINGS (NEEDED IF USED TO BACKTEST WITH TTS):
The TempalteTradingStrategy is a strategy script developed in Pine by jason5480, which I recommend for quick turn-around of testing different ideas on a proven and tested framework
I cannot give enough credit to the developer for the efforts put in building of the infrastructure, so I advice everyone that wants to use it first to get familiar with the concept and by checking
by checking jason5480's profile www.tradingview.com
The TTS itself is extremely functional and have a lot of properties, so its functionality is beyond the scope of the current script -
Again, I strongly recommend to be thoroughly explored by everyone that plans on using it.
In the nutshell it is a script that can be feed with buy/sell signals from an external indicator script and based on many configuration options it can determine how to execute the trades.
The TTS has many settings that can be applied, so below I will cover only the ones that differ from the default ones, at least according to my testing - do your own research, you may find something even better :)
The current/latest version that I've been using as of writing and testing this script is TTSv48
Settings which differ from the default ones:
Deal Conditions Mode - External (take enter/exit conditions from an external script)
🔌Signal 🛈➡ - BreakoutTrendFollowing: 🔌Signal to TTS (this is the output from the indicator script, according to the TTS convention)
Order Type - STOP (perform stop order)
Distance Method - HHLL (HigherHighLowerLow - in order to set the SL according to the strategy definition from above)
The next are just personal preferences, you can feel free to experiment according to your trading style
Take Profit Targets - 0 (either 100% in or out, no incremental stepping in or out of positions)
Dist Mul|Len Long/Short- 10 (make sure that we don't close on profitable trades by any reason)
Quantity Method - EQUITY (personal backtesting preference is to consider each backtest as a separate portfolio, so determine the position size by 100% of the allocated equity size)
Equity % - 100 (note above)
Channel CorridorOVERVIEW
The Channel Corridor indicator is designed to operate on a log chart of asset prices (e.g., BTCUSD), specifically on a weekly timeframe.
The intent of the indicator is to provide a visual representation of market dynamics, focusing on a dynamically adjusted corridor around a Simple Moving Average (SMA) of an asset's price. The corridor adapts to changing market conditions. The indicator includes channels within the corridor for additional reference points.
PURPOSE
Trend Identification: The channel corridor can aid in visualising the overall trend, as it dynamically adjusts the corridor based on an SMA and user-defined parameters.
Volatility Assessment: The width of the channel corridor can may act as a gauge of market volatility.
Reversal Points: The channel corridor may signal potential trend reversals or corrections when an asset price approaches the upper or lower bounds of the corridor.
Long-Term Trend Analysis: The channel corridor may aid in longer-term trend analysis.
CONSIDERATIONS
Validation: It's recommended that careful back-testing over historical data be done before acting on any identified opportunities.
User Discretion: Trading decisions should not rely solely on this script. Users should exercise judgment and consider market conditions.
CREDIT
Ideation: Thanks @Sw1ngTr4der for the idea and corridor seed code
Dual_MACD_trendingINFO:
This indicator is useful for trending assets, as my preference is for low-frequency trading, thus using BTCUSD on 1D/1W chart
In the current implementation I find two possible use cases for the indicator:
- as a stand-alone indicator on the chart which can also fire alerts that can help to determine if we want to manually enter/exit trades based on the signals from it (1D/1W is good for non-automated trading)
- can be used to connect to the Signal input of the TTS (TempalteTradingStrategy) by jason5480 in order to backtest it, thus effectively turning it into a strategy (instructions below in TTS CONNECTIVITY section)
Trading period can be selected from the indicator itself to limit to more interesting periods.
Arrow indications are drawn on the chart to indicate the trading conditions met in the script - light green for HTF crossover, dark green for LTF crossover and orange for LTF crossunder.
Note that the indicator performs best in trending assets and markets, and it is advisable to use additional indicators to filter the trading conditions when market/asset is expected to move sideways.
DETAILS:
It uses a couple of MACD indicators - one from the current timeframe and one from a higher timeframe, as the crossover/crossunder cases of the MACD line and the signal line indicate the potential entry/exit points.
The strategy has the following flow:
- If the weekly MACD is positive (MACD line is over the signal line) we have a trading window.
- If we have a trading window, we buy when the daily macd line crosses AND closes above the signal line.
- If we are in a position, we await the daily MACD to cross AND close under the signal line, and only then place a stop loss under the wick of that closing candle.
The user can select both the higher (HTF) and lower (LTF) timeframes. Preferably the lower timeframe should be the one that the Chart is on for better visualization.
If one to decide to use the indicator as a strategy, it implements the following buy and sell criterias, which are feed to the TTS, but can be also manually managed via adding alerts from this indicator.
Since usually the LTF is preceeding the crossover compared to the HTF, then my interpretation of the strategy and flow that it follows is allowing two different ways to enter a trade:
- crossover (and bar close) of the macd over the signal line in the HIGH TIMEFRAME (no need to look at the LOWER TIMEFRMAE)
- crossover (and bar close) of the macd over the signal line in the LOW TIMEFRAME, as in this case we need to check also that the macd line is over the signal line for the HIGH TIMEFRAME as well (like a regime filter)
The exit of the trade is based on the lower timeframe MACD only, as we create a stop loss equal to the lower wick of the bar, once the macd line crosses below the signal line on that timeframe
SETTINGS:
All of the indicator's settings are for the vanilla/general case.
User can set all of the MACD parameters for both the higher and lower (current) timeframes, currently left to default of the MACD stand-alone indicator itself.
The start-end date is a time filter that can be extermely usefull when backtesting different time periods.
TTS SETTINGS (NEEDED IF USED TO BACKTEST WITH TTS)
The TempalteTradingStrategy is a strategy script developed in Pine by jason5480, which I recommend for quick turn-around of testing different ideas on a proven and tested framework
I cannot give enough credit to the developer for the efforts put in building of the infrastructure, so I advice everyone that wants to use it first to get familiar with the concept and by checking
by checking jason5480's profile www.tradingview.com
The TTS itself is extremely functional and have a lot of properties, so its functionality is beyond the scope of the current script -
Again, I strongly recommend to be thoroughly epxlored by everyone that plans on using it.
In the nutshell it is a script that can be feed with buy/sell signals from an external indicator script and based on many configuration options it can determine how to execute the trades.
The TTS has many settings that can be applied, so below I will cover only the ones that differ from the default ones, at least according to my testing - do your own research, you may find something even better :)
The current/latest version that I've been using as of writing and testing this script is TTSv48
Settings which differ from the default ones:
- from - False (time filter is from the indicator script itself)
- Deal Conditions Mode - External (take enter/exit conditions from an external script)
- 🔌Signal 🛈➡ - Dual_MACD: 🔌Signal to TTSv48 (this is the output from the indicator script, according to the TTS convention)
- Sat/Sun - true (for crypto, in order to trade 24/7)
- Order Type - STOP (perform stop order)
- Distance Method - HHLL (HigherHighLowerLow - in order to set the SL according to the strategy definition from above)
The next are just personal preferenes, you can feel free to experiment according to your trading style
- Take Profit Targets - 0 (either 100% in or out, no incremental stepping in or out of positions)
- Dist Mul|Len Long/Short- 10 (make sure that we don't close on profitable trades by any reason)
- Quantity Method - EQUITY (personal backtesting preference is to consider each backtest as a separate portfolio, so determine the position size by 100% of the allocated equity size)
- Equity % - 100 (note above)
EXAMPLES:
If used as a stand-alone indicator, the green arrows on the bottom will represent:
- light green - MACD line crossover signal line in the HTF
- darker green - MACD line crossover signal line in the LTF
- orange - MACD line crossunder signal line in the LTF
I recommend enabling the alerts from the script to cover those cases.
If used as an input to the TTS, we'll get more decorations on the chart from the TTS itself.
In the example below we open a trade on the next day of LTF crossover, then a few days later a crossunder in the LTF occurs, so we set a SL at the low of the wick of this day. Few days later the price doesn't recover and hits that SL, so the position is closed.
SpiceIn the chart photo is a description for each shape and letter, saying what each one is.
BB, Reversals are off by default.
BB + Reversals + Next bar confirmation - The way this should be used is by waiting for a 1 or 2 bar confirmation closed above/below the high/low of the Reversal candle. So if its a Top R, a yellow box will print as a confirmed 1 bar if it closed below the top R's low, then you can wait for the second bar to close also below the Top R's low. Vice versa with the Bot R.
RSI arrows - Essentially showing you when the multi time frame RSIs are coming back up above 30, or below 70. Respective to what time frames you have selected.
Three Line Strike - A trend continuation candlestick pattern consisting of four candles
Leledc Exhaustion suggest the trend may be reversing. Combined with the moving average as a trend filter, the indicator can signal the end of a pull back and the continuation of the trend.
EMAs - Help measuring the trend direction over a period of time.
Credit to all these amazing creators -
Multi Timeframe RSI (LTF) by @millerrh
3 Line Strike by @Lij_MC 'MarketVision A'
Leledc Exhaustion by @glaz, used updated version by @Joy_Bangla
If anyone uses the BB reversals source code to put into their own indicator/strategy, you are free to do so. Just send me a message I'd love to see your work with it! :)
Thanks to Lij_MC's MarketVision A indicator for inspiring me to add more features. At first it was just the RSI Arrows and the BB reversals candles + Condition but then I found MarketVision A and loved the extra Leledc and 3 Line Strike features.
Hope you enjoy this Spice!
No Signal is 100% correct at what it's trying to do. Use caution when trading!
Practice Risk Management.
BB Support & ResistanceChoosing support and resistance can be time consuming and subjective. Personally, I don't want to spend too much time manually marking up charts. Credit to video I saw, forget the producer, that demonstrated how multi-time frame Bollinger Bands can act as support and resistance. I suggest reading up on Bollinger Bands (en.wikipedia.org) and how to trade them. This indicator draws support and resistance lines based on Bollinger Bands on three time frames. You can select 1 or all three time frames to display on your chart. Enjoy.
Global Central Banks Balance Sheet USD-AdjustedSumming up central banks balance sheet of:
US , China, EU, Japan, UK,
Swiss, Australia, Canada, Norway
Brazil, Russia, India, Mexico, Indonesia
Taiwan, HK, Korea, SG, Thailand
Then adjusting it to USD as the common denominator for comparison.
Net Foreign Assets (or foreign reserves) + Net Domestic Assets (or domestic credit, usually Money Supply M1) = Total Assets of the Central Bank Balance Sheet
In some way, the central bank balance sheet could be M2. However, I find some of the indicators don't add up and I don't have the time to check them out. This indicator is just a proxy. The issue with using central bank balance sheet to determine liquidity in the system is that it doesn't account for 1) collateral used for liquidity management in the public and private system, 2) shadow-banking financial system. As usual, US + EU + Japan publishes their data every weekly and the rest of the central banks publish monthly. I have removed any country with hard-pegged currencies except HK.
Additional materials to aid understanding:
www.imf.org
Ichimoku MA BandsThis indicator is based on the price average of the Ichimoku Strategy taking into account the last twenty five bars.
The blue band represents an upward momentum whereas the white band represents a downward momentum.
The red line is the 50 EMA which is used as a dynamic support resistance level for this strategy.
This indicator also has alerts that can be enabled by the user.
Disclaimer :
The current script should be used in confluence with other trading strategies and not in isolation. The scripts works best on 5M and 15M Timeframes and should be used with caution on lower timeframes.
This indicator is not intended to give exact entry or exit points for a trade but to provide a general idea of the trend & determine a good range for entering or exiting the trade. Please DYOR
Credit & References :
This script uses the default technical analysis reference library provided by PineScript (denoted as ta)
