Average Daily Range TableThis is the last script to complete Vladimir Poltoratskiy's setup found in his books.
Poltoratskiy argues that you should not take any fractal corridors higher than 50% of the Average Daily Range. To be honest, even 40% is a lot, because then, your target will be 160% ADR away from your entry and one "fracture" just can't be enough to predict moves this big.
I chose a table to visually represent the indicator because it doesn't change its value during the day. It takes far less room on the chart.
There are also two simple moving averages. You may use the as an indicator if the relative volatility as of late is extremely low and in that case, perhaps, expect an increase in the coming days. They are applied to the Average Daily Range, not one day range!
Cerca negli script per "TAKE"
Weighted Harrell-Davis Quantile Estimator with AbsoluteDeviation
QUANTILE ESTIMATORS
Weighted Harrell-Davis Quantile Estimator with Absolute Deviation Fences.
DISCLAIMER:
The Following indicator/code IS NOT intended to be a formal investment advice or recommendation by the author, nor should be construed as such. Users will be fully responsible by their use regarding their own trading vehicles/assets.
The following indicator was made for NON LUCRATIVE ACTIVITIES and must remain as is, following TradingView's regulations. Use of indicator and their code are published for work and knowledge sharing. All access granted over it, their use, copy or re-use should mention authorship(s) and origin(s).
WARNING NOTICE!
THE INCLUDED FUNCTION MUST BE CONSIDERED FOR TESTING. The models included in the indicator have been taken from open sources on the web and some of them has been modified by the author, problems could occur at diverse data sceneries, compiler version, or any other externality.
Purpose:
Weighted Quantiles or <> are quite difficult to find on must systems, also it's non-weighted approach are rarely used to estimate the location parameter of price distribution WICH IS NOT NORMAL, all this in favour of it's non-robust counterpart, the Arithmetic rolling Mean or <> and it's weighted variants like the WMA, VWAP, etc.
Also, a big drawback from this is that must statistics derived from Normal-Distribution parameter location (the Mean) definitely will not fit for an efficient, nor robust estimation for price distributions, so their moments like the standard deviation, kurtosis, skewness, etc. will not be the better tools to build derived algorithms or technical indicators among price/volume.
In an effort searching better statistical tools for price distributions, I found the excellent work of Andrey Akinshin that took me to port some of their Math research contributions for the compute benchmarking field , and bring it here at the TradingView ecosystem to take a shot at the price distribution crazy fields. For a better detail of what the weighted Harrell-Davis Quantile Estimator can do, who better than drink directly from the source at References:
References:
Weighted Quantile Estimators.
DoubleMAD outlier detector based on the Harrell-Davis quantile estimator.
Unbiased median absolute deviation based on the Harrell-Davis quantile estimator.
Quantile confidence intervals for weighted samples.
Licensing:
This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International Copyright (c) 2021 (CC BY-NC-SA 4.0)
Copyright's & Mentions:
The Gamma Functions & Beta Probability Density Functions C# implementations by the Math.NET Numerics, part of the Math.NET Project.
The Regularized Incomplete (Left) Beta Function C# implementation by the SAMTools, htslib project.
The Weighted Harrell-Davis Quantile estimator ; C# & R implementations by Andrey Akinshin.
External PineScript code, methods, support & consultancy by @PineCoders staff with special mention for:
+ "ma sorter ('sort by array' example)- JD" by @Duyck.
+ Porting, mods, compilation and debugging for this script by @XeL_Arjona for the TradingView's @PineCoders community.
Relative Volume & RSI PopThis is a basic idea/script designed to take a breakout trade by taking advantage of volume spikes when price/strength is extended (either long or short).
The script only utilises two indicators, the Relative Volume (RV) and the Relative Strength Index (RSI). The script allows the user to select a RSI value between 69 up to 100 for a long trade and between 35 down to 0 for short trade and then pair this with RV from 0 - 10. The period for both the RSI and RV can also be amended by the user but I found in most cases there was no benefit gained by changing away from normal "14" period lookback. The script typically only has small draw downs as the script is designed to exit the trade when the RSI returns back to "normalised" level, therefore the trades are generally quite short. The exit condition for a long trade is when RSI crosses back below 69 (which is why you cannot enter a long below this value) and for a short the, trade will close when RSI crosses back above 35 (which is why you cannot enter a short above this value). These exit values are locked.
By allowing RSI value to go all the way up to "100" on the long side and "0" on the short side this in effect is a way of eliminating the script from taking either longs or shorts if lets say you wanted to back test the script for long only spikes or short only spike. E.G. By setting RSI upper value to "75" the RV to "1" and RSI lower value to "0" then no short trades will not be taken in your back test as the RSI never really gets down to zero.
I put this together with meme stocks in mind and back tested it on day charts for AMC and then a few trending style stocks too. It typically worked best as long only and with RSI settings between 71 - 75 and RV at 1 or 1.5. I also found it had okay results on some lower 1hr timeframe futures markets and weekly time frames too (albeit trades were few and far between on weekly timeframe).
The beauty of such a basic script you could easily set up a trading view screener to look for these opportunities everyday and perhaps even add in an ADX filter on the screener to see if the trend is increasing. Then use this script to run a back test on the stocks that you've selected from the screener.
Maximized Scalping On Trend (by Coinrule)" The trend is your friend. " This is one of the most famous and valuable teachings that experienced traders can give to newbies. There is a reason for that.
No matter your views about where the price moves, what matters is where the price heads to . The market is always right, and ultimately it decides who gets the profit and who has to take a loss.
The purpose of this strategy is to spot when it's the most suitable time to buy an asset profiting from a potential short-term price increase. The strategy tends to open trades frequently, closing them on average in one and a half days.
ENTRY
The buy order is placed on assets that present strong momentum when it's more likely that it is about to increase further in the short term.
To capture momentum on the asset, the rule strategy requires:
the MA50 greater than the MA100
the RSI greater than 50
The rule, then, places the order when
The price crosses above the MA9.
EXIT
This strategy comes with a stop loss and a take profit which adapt dynamically to market conditions.
The trade is closed in profit when the RSI is greater than 70 , as the trend could experience a pull-back.
Alternatively, the trade is closed when the RSI is lower than 30 , being this a sign of weakening of the trend.
Pro tip : The 1-hour time frame has proven to return the best results on average. The strategy can also work well in the 15-min time frame if you want to increase the trades' frequency.
The strategy assumes each order to trade 30% of the available capital and opens a trade at a time. A trading fee of 0.1% is taken into account.
Financial Astrology Saturn LongitudeSaturn energy strengthen the temperance, rectitude, constancy, greed, pessimism and precautionary. Under this influence the crowd will move with caution, slow and with strong and rigorous sense, analysing the environment in detail and deducting all the possible action outcomes based on the past experiences and utilising all the accesible wisdom. This cycle rules the land and real state, the state and institutions, officials, and regulations.
Due to the essential nature of this energy is expected that traders take more caution and reflexion in their investment decisions where Saturn transits through earth element (Taurus, Virgo, Capricorn) because the persons become more prudent and rigid. In water elements (Cancer, Scorpio and Pisces) traders will be reducing exposure to risky assets because the emotions are more unstable and the fear to loss results in risk aversion.
This cycle takes 29 years to complete so we don't have enough observations in the crypto-currencies sector to evaluate the potential effect of Saturn through all the zodiac signs but with the historical data available, there are some interesting patterns: the most bearish zodiac signs was Scorpio (water) and Capricorn (earth) and the most bullish was Sagittarius and Aquarius. This correlates well with other planet cycles where we have observed that air zodiac signs are usually bullish.
This indicator provides longitude since 2010 so will be limited in the zodiac signs that is possible to be analysed, however the periods of retrogradation and stationary speed phases could give interesting trading signals. We encourage you to analyse this cycles in different markets and share with us your observations, leave us a comment with your research outcomes. Happy research!
Note: The Saturn tropical longitude indicator is based on an ephemeris array that covers years 2010 to 2030, prior or after this years the longitude is not available, this daily ephemeris are based on UTC time so in order to align properly with the price bars times you should set UTC as your chart reference timezone.
Crypto momentum strategyThis strategy is based on LazyBear's Squeeze Momentum indicator. It analyzes when the trend in the momentum is shifting, locating the peaks and the valleys, and takes those as sell and buy signals respectively. This is a long strategy, so it also takes into consideration the 50 period Exponential Moving Average to identify upward trends. If the closing price of the candle is above the 50EMA, and the slope of the 50EMA is trending upwards, then the buy signal is executed. If these conditions are not met, the buy signal is ignored.
This strategy works well with crypto trading on the day/week charts.
It has a profit ratio of 4:1 on average, and roughly half of the trades are profitable.
Bollinger Band + RSI + ADX + MACD + HeikinashiThis script takes into picture Bollinger Bands, RSI with a comparator value, ADX with a comparator value, and MACD with Heikinashi Direction
THIS IS A LONG-ONLY STRATEGY. SHORT TRADES ARE NOT INCLUDED
Strategy:
The Strategy takes a trade only after ALL the following conditions are met.
Candle low is lower than the Bollinger Lower band
RSI is higher than the comparator value
ADX is higher than the comparator value
MACD value is higher than the Signal value
Stop Loss : Max of (Low of the candle - 0.22% and Close of the candle - 0.32%) - FYI, because its max, it's lower of the 2 and your risk is lesser
Target : Max of (Bollinger Band Upper band and 0.75% of the value of underlying) - FYI, it takes the maximum available
+ ALMA Trend DetectorHi, again. Here I have a nice moving average script designed to get you into trends and keep you in trends until the opportune moment comes to exit. And, as with any indicator, or suite of indicators, designed to get one into trends and keep him/her in a trend, they do not do so well in chop/ranging/mean reversion conditions, though I would say this one is better than most, otherwise I wouldn’t be fitting it into my trading system.
This is a huge improvement, in my opinion, over an indicator I found recently, and like quite a bit by samsmilesam, which you can find here: www.tradingview.com
In this adaptation of his script I changed a bunch of things, but kept the spirit of the indicator true.
This indicator utilizes three different length Arnaud Legoux moving averages, known for being extremely low lag, and incredibly adjustable (though I find the original authors settings excellent).
While he has buy and sell signals triggering regardless of the fast and slow ma’s position to the trending ma, I actually take the trending ma into account. Furthermore, I wouldn’t say I coded in signals indicating buying and selling, but that I coded in signs that answer the question “what kind of trend are we in?” as well as possible ideal trade exits (which couuuuuld also be taken as entries, but aren’t necessarily meant to).
So, the deets on this:
1) 5 period, 20 period, and 70 period ALMAs. Fast, slow and trend. All customizable independent of each other (unlike the sam’s). All three also change color based on their own individual trends.
2) Uptrends are identified when price is closing above the Trend ma, and both Fast and Slow ma’s are above the Trend ma, and vice versa for downtrends. There are in-between points when a trend is not identified, and this is when price closes above or below the Trend ma, but the other two ma’s have not crossed it. Background color is used to identify the trend.
3) Trade exits are based on closing price and Fast and Slow ma’s relative to the Trend ma, once again. To signal exiting an uptrend price must close below both Fast and Slow ma’s and both Fast and Slow ma’s must be above the Trend ma; and vice versa for exiting a down trend. Obviously there may be false signals, but there are fewer signals, and I think it’s a better strategy than most. I prefer to filter out as much noise as possible. There’s little worse in my opinion than an indicator that gives too many false signals, but obviously it’s impossible to remove them all. Some discretion is necessary on the part of the trader.
4) So what does this mean for trade entries? Well, you can certainly enter a trade on a signal for an exit (go long on a short exit signal) if the chart looks good for that. Or you can wait for trend confirmation with the background color, entering on a pullback to the ma’s perhaps. Or you can enter in the “no man’s land” in between trends. If you’ve exited and price continues on trending your best bet would be to wait for a pullback into the ma’s or a s/r level, or look for the next candle that closes beyond the Fast and Slow ma’s. These are just thoughts of mine.
5) Lastly, there are alert conditions set for uptrends, downtrends and both long and short exits!
Enjoy the indicator! I think with some sort of bands or channels for those times when the market is rangebound or in chop, you could really crush it with this.
BankNifty Volume Indicator
KEY TAKEAWAYS
- Uses BankNifty Index Stocks Volume.
- BankNifty Volume Indicator is created by adding all BankNifty Stocks Volume together.
- BankNifty Volume will be an important indicator in BankNifty Index technical analysis because it is used to measure the relative significance of a market move.
- The higher the volume during a Banknifty index price move, the more significant the move and the lower the volume during a Banknifty index price move, the less significant the move.
- Moving Average is also added.
NSE:BANKNIFTY
Trend Surfers - Premium Breakout + AlertsTrend Surfers - Premium Breakout Strategy with Alerts
I am happy today to release the first free Trend Surfers complete Breakout Strategy!
The strategy includes:
Entry for Long and Short
Stoploss
Position Size
Exit Signal
Risk Management Feature
How the strategy works
This is a Trend Following strategy. The strategy will have drawdowns, but they will be way smaller than what you would go through with buy and old.
As a Trend Following strategy, we will buy on strength, when a breakout occurs. And sell on weakness.
The strategy includes a FIX Stoploss determined by an ATR multiple and a trailing Stoploss/Takeprofit also determined by an ATR multiple.
You can also manage your risk by entering the maximum % you are willing to risk on every trade. Additionally, there is an option to enter how many pairs you will be trading with the strategy. This will change your position size in order to make sure that you have enough funds to trade all your favorite pairs.
Use the strategy with alerts
This strategy is alert-ready. All you have to do is:
Go on a pair you would like to trade
Create an alert
Select the strategy as a Trigger
Wait for new orders to be sent to you
Every Entry (Long/Short) will include:
Market Entry (Enter position NOW!)
Stoploss price
Position Size
Leverage
* If you do not wish to use leverage, you can multiply the Position Size by the Leverage. But doing that, you might end up with a position greater than your equity. Trading on Futures is better in order to have accurate risk management.
Exit signals:
When you receive an exit signal, you need to close the position ASAP. If you want to keep your results as close as possible to the backtest results, you need to execute quickly and follow what the strategy is telling you.
Do not try to outsmart the strategy
Leave your emotion out of trading! If you trust the strategy, you will have way better returns than if you try to outsmart it. Follow each signal you receive even if it doesn't seem logical at the moment.
Become a machine that executes. Don't look at fundamentals. Follow the trend! Trust the strategy!
I hope you enjoy it!
CCI Overbought & OversoldThe Commodity Channel Index (CCI) is a momentum-based oscillator used to help determine when an investment vehicle is reaching a condition of being overbought or oversold
Developed by Donald Lambert, this technical indicator assesses price trend direction and strength, allowing traders to determine if they want to enter or exit a trade, refrain from taking a trade, or add to an existing position. In this way, the indicator can be used to provide trade signals when it acts in a certain way.
KEY TAKEAWAYS
The Commodity Channel Index (CCI) is a technical indicator that measures the difference between the current price and the historical average price.
When the CCI is above zero, it indicates the price is above the historic average. Conversely, when the CCI is below zero, the price is below the historic average.
The CCI is an unbounded oscillator, meaning it can go higher or lower indefinitely. For this reason, overbought and oversold levels are typically determined for each individual asset by looking at historical extreme CCI levels where the price reversed from
This script calculates Commodity Channel Index (CCI) value and fills background of price action chart with colors:
Green zone indicates oversold zone where you can enter position
Red zone indicates overbought zone where a positions should be closed
Average Directional Index + ΔDI± (Delta)Average Directional Index (ADX) and Difference between DI+ and DI- (ΔDI±), I call it Delta for short.
The idea explained:
ADX is a common indicator for analysing trend strength. Values over 25 usually indicate the symbol is in "trend mode", meaning there is a lot of momentum, upwards or downwards, - while values under 25 suggest it is in "range mode", the price moves sideways, lacking energy. Note that this indicator is not volume-based.
I moved the graph (red) down 25 points; this version shows positive values in "trend mode" (>25), and negative values in "range mode" (<25). The line sits at 0. The underlying code for the ADX is basically identical to the official TradingView built-in version.
Now the exciting part: DI+ and DI- are used to calculate the ADX. They are sometimes included in the ADX indicator chart, I included a version that shows them in the graphic, at the bottom. Traditionally, DI+ (green) crossing DI- (dark red) from below shows the beginning of an upward trend, and therefore a good LONG entry position. However, I noticed that this is usually not the case: this method responds very slowly to the actual price movement. At the point the indicator tells you to enter, the trend is usually already exhausted.
I found a better way to use this data; instead of waiting for both graphs to cross, meaning the difference in their respective values is 0, we look for the greatest possible difference. That is what the purple graph of my indicator shows (ΔDI±). It utilizes the zero-line we already created for the ADX. High positive values declare that the DI+ is much greater than the DI-, and vice versa. Delta is the greek letter used in mathematics for difference, so that is what I call this indicator.
How to use it:
When you look at the graph, low Delta values seem to be good entry points for LONG positions, high Delta values good exits. This is similar to how RSI and CCI work, which is why included them in the chart above (). However, this is only reliable, when the ADX is above 25, or 0 in this version, indicating the symbol is in "trend mode". This is important .
When you look at the examples in the chart, you can confirm that. The marked candles show good entry and exit points, with Delta being notably low/high (±25 seems to be a good threshold, the dashed lines sit at +30/-30), and the ADX above 0 (25). Now, you might have noticed that around mid-december the Delta actually registers the highest value for this symbol in the given time frame, indicating a strong SHORT after a steep climb. But, importantly , the ADX is not in "trend mode" as required for a clear signal, it is in "range mode": the price discovers this new level and takes a few days to get used to it. It does not fall. This shows why only the combination of both Delta and ADX gives desirable results.
I noticed that this seems to work best for 1D and 1H candles; if you find any other time frames or scenarios, let me know!
PLEASE NOTE THAT THIS IS BASED ON PERSONAL, EMPIRICAL OBSERVATIONS. PAST RESULTS DO NOT GUARANTEE SUCCESS IN THE FUTURE. DO NOT TAKE THIS AS INVESTMENT ADVICE!
Thanks to TradingView and robertkowalski for providing the basis on which the code is built. Credit goes to the appropriate developers/owners.
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Let me know if you make any other observations, or find other ways to use the data!
(Custom)Bollingers Bands Fibonacci ratiosThis is a modified Bollinger bands that uses EMA,with ATH to get a main average and then takes Standard Deviations by Fib ratios outwards. It is very useful for Entries and exits. I Typically use it to exit longs or shorts, entries are a bit harder. Generally the price will wick just barely or briefly into the end of one of the bands and then leave, it PINGs it and that is your exit. It is a little hard to predict in real time and set a Take profit at any exact point because it is always moving, but because it constantly adjust it is pretty damn accurate at nailing it. They sorta work at any timeframe, so its up to you, though for Crypto it doesnt do so well above 4hr because it can pump really hard or dump hard and super stretch the bands. Best numbers for the Average are Fib numbers. Stick to using 13, 21, and 34. 34 is my favorite and works best for me, But its up to you. Sometimes its benificial to use 34 on lower timeframes and maybe a smaller number on larger ones IE 21 or 2 or 4hr charts.
Once again it is up to you how to use it. I dont have credit for the original version of it. It is someone else's who I think modified another person's version lol. Ill try and find their name and post a comment though for who I took the original code from.
Scalping Dips On Trend (by Coinrule)Coinrule's Community is an excellent source of inspiration for our trading strategies.
In these months of Bull Market, our traders opted mostly on buy-the-dips strategies, which resulted in great returns recently. But there has been an element that turned out to be the cause for deep division among the Community.
Is it advisable or not to use a stop-loss during a Bull Market?
This strategy comes with a large stop-loss to offer a safer alternative for those that are not used to trade with a downside protection.
Entry
The strategy buys only when the price is above the Moving Average 50 , making it less risky to buy the dip, which is set to 2%.
The preferred time frame is 1-hour.
The stop-loss is set to be quite loose to increase the chances of closing the trade in profit, yet protecting from unexpected larger drawdowns that could undermine the allocation's liquidity.
Exit
Stop loss: 10%
Take Profit: 3%
In times of Bull Market, such a trading system has a very high percentage of trades closed in profit (ranging between 70% to 80%), which makes it still overall profitable to have a stop-loss three times larger than the take profit.
Pro tip: use a larger stop-loss only when you expect to close in profit most of the trades!
The strategy assumes each order to trade 30% of the available capital and opens a trade at a time. A trading fee of 0.1% is taken into account.
MACD Crossover trend strategy, Long and ShortHey everybody,
This is my first strategy and script I wrote mostly myself. There's tons of content out there to learn how to code in Pinescript and it's exactly what I wanted and needed in this time of my life.
In any case, I made a rather simple MACD crossover strategy that only takes trades in the direction of both EMA and SMA (there are inputs to change the length of the moving averages and lots of other stuff too).
If the MACD line crosses upwards on the signal line, while above the zero point of the histogram and the price is above EMA + SMA , it's a long signal.
If the MACD line cosses downards on the signal line, while below zero on the histogram and the price is below EMA + SMA , it's a short signal.
There are a lot of default variables that make no sense, for basically any symbol you're going to be looking at. You're going to have to adjust the EMA , SMA , backtest date, take profit, stop loss and all that good stuff yourself to find decently profitable parameters.
I made this myself because I couldn't really find a strategy out there that allowed for so much customizing and it's an easy way to get started in Pinescript.
If you have any suggestions, tips or you see a flatout mistake in my code, please let me know. I'm still learning, everyday and I'm enjoying every second of it.
[SK] Fibonacci Auto Trend ScouterThe FATS - Fibonacci Auto Trend Scouter automatically draws active trends from 2 different timeframes along with Fibonacci Support and Resistance levels. It also has a Sights feature for each timeframe which points from it's middle towards the current price. The tool is also highly customizable for you to take this indicator over 9000. If you like the tool and it adds value to you - share the love on the like button and visit my profile to check out my other indicators and subscribe, so you're notified of my next scripts and ideas!
Automatic Trend Lines
The indicator takes in 2 timeframes to detect High and Low values from which to draw the trend lines of each timeframe.
As the values change with price movement, the lines are updated. They are color coded for uptrend and downtrend based on the direction of each individual line. Trend lines can be set up to color with only the default value on the configurations panel.
- Toggle on/off Color Coded
- Change Default, Uptrend, Downtrend color
- Change Line Width
- Change Line Style
- Toggle on/off Line Extensions
- Change Extended Line Width
- Change Extended Line Style
- Toggle On/Off labels for 7 data points of each timeframe
Automatic Trend Sights
This is a neat feature that may help you get a better feel for the direction the current movement is heading towards in correlation with the short or medium length timeframe trends. The sight draws a line from the middle vertical point of the trend coordinates towards the current price. They are toggled off by default but can be enabled in the configurations panel.
- Toggle on/off sight on each timeframe
- Change Width
- Change Line Style
Automatic Fibonacci Levels
The tool has a very useful feature to automatically detect the highest and lowest value from the short timeframe to calculate Fibonacci support and resistant levels. To keep the chart area clean, the lines are drawn short by default towards the right side of the price but provide inputs to increase the size of the level lines towards the left and right direction. A triangle label appears to the side of each line which holds the Fibonacci level and price data inside the tooltip, hover over them to activate.
- Toggle on/off color coded
- Change Default, Resistance, Support colors
- Change line size towards the left and right side
- Change line width
- Change Resistance line style
- Change Support line style
- Toggle on/off High and Low source line
- Toggle on/off High and Low source labels
[SK] Custom Klinger OscillatorThis Custom Klinger Oscillator allows you to change the time frames for the Force Volume and Signal calculations to use instead of it's default values. Although the default Fibonacci values ( 34, 55 and 13 ) provide exceptional signals, you can now explore using lower Fibonacci numbers and get faster signals for your own adventures in the market.
This indicator adds conditional coloring of the Klinger line when over / under the signal along with a transparent fill cloud between both lines colored by the same condition. You can change colors to your preference on the style configurations.
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Below is more information on the KIinger Oscillator from investopedia:
Interpretations for Price Direction
The Klinger Oscillator is fairly complex to calculate, but it's based on the idea of force volume, which accounts for volume, trend (positive or negative), and temp (based on multiple inputs and if/then statements). Using this data, the oscillator is created by looking at the difference between two exponential moving averages of force volume involving different time frames (typically 34 and 55). The idea is to show how the volume flowing through the securities is impacting its long-term and short-term price direction.
The Signal Line
A signal line (13-period moving average) is used to trigger buy or sell signals. This technique is very similar to signals that are created with other indicators such as the moving average convergence divergence (MACD). While these are the basic signals generated by these indicators, it's important to note that these techniques may generate a lot of trading signals that may not be as effective in sideways markets.
The Uptrend
When an asset is in an overall uptrend—such as when it is above its 100-period moving average and the Klinger is above zero or moving above zero—traders could buy when the Klinger oscillator moves above the signal line from below.
Klinger noted that when a stock was in an uptrend, and then dropped to unusually low levels below zero, and then moved above its signal line, this was a favorable long position to take.
The Downtrend
When an asset is in an overall downtrend, traders could sell or short-sell when the Klinger oscillator moves below the signal line from above. Klinger noted this was especially noteworthy when the indicator had seen an uncharacteristic spike above zero.
The zero line is also used by some traders to mark the transition from an uptrend to downtrend, or vice versa. While such signals won't always agree with price movements, a move above zero helps confirm a rising price, while a drop below zero helps confirm a falling price.
Klinger Oscillator and Divergence
The Klinger oscillator also uses divergence to identify when the indicator's inputs are not confirming the direction of the price move. It's a bullish sign when the value of the indicator is heading upward while the price of the security continues to fall. It is a bearish signal when the price is rising but the indicator is falling. Divergence can be coupled with signal line crossovers to generate trades. For example, if a bearish divergence forms, a sell or short-sell could be initiated the next time the Klinger crosses below the signal line.
PG ATR based Stop LossA stoploss system that enables traders to exit with limited loss or even trailing loss.
Use the levels of indicator against the candle that has seen signidicant move for running positions and the candle in which a new position is taken.
Example : For long Nifty Future at 14990 levels, when Indicator is showing 14820 at bottom on a 30 min chart, 14820 can be used as a stop loss,
similarly for short conditions upper values above top of he candle will be followed.
For medium term ongoing positions, use the levels marked against candle that offered a major move, or the candles that has put the underlying in a new price zone or range.
15-30 minutes are suitable period for intraday / short term trades. Two hours or day periods can be used for positional trades.
**Queries are welcme.**
Easy TrendThis signal is completely based on analysis and transformation of a single simple moving average. As with all signals and indicators, it should be combined with others.
This is how the signal is built:
1. First it takes the SMA of the closing price.
2. It then takes the ROC of that SMA using a length of 1.
3. It takes an 8-period SMA and also a 64-period SMA of that ROC.
4. These are plotted as follows:
- the ROC is plotted in green when above 0 (trending up) and red when below 0 (trending down).
- the 8-period SMA is plotted as a thin white line within the ROC signal
- the 64-period SMA is plotted as a thick white line within the ROC signal
When the trendline is green, this is a bullish zone. When the trendline is red, this is a bearish zone.
Moving averages (all types of moving averages) are inherently lagging signals. To compensate for that, I am offsetting each SMA series by half of its period. This may be confusing to some, but the end result is a mathematically accurate SMA signal, centered on the signal that it is providing the moving average of. It doesn't stop the lag, but it directly and obviously shows how lagged each signal is, which I personally find better to trade against.
Symbols on the top and bottom of indicator:
Yellow triangle at bottom of indicator shows where a downward trend is starting to bottom out and a buy/long opening may be available soon.
Green triangle at bottom of indicator shows that a downward trend has switched to an upward trend. This indicates a good time to buy.
Yellow triangle at top of indicator shows where an upward trend is starting to plateau and a sell/short opening may be available soon.
Red triangle at top of indicator shows that an upward trend has switched to a downward trend. This indicates a good time to sell.
Note: You may see multiple yellow triangles before seeing a green or red triangle. This can happen when multiple trend accelerations or decelerations occur within an overall green or red zone.
In addition there is a dotted line connecting the end of the 64-period SMA to the end of the 8-period SMA. This indicates the direction the trend is moving towards. When the dotted line crosses the zero line, this portrays a rough estimate of where the trend may switch from a downtrend to an uptrend or vice versa. This is the "best" time to buy or sell, depending on your strategy.
I recommend placing a SMA on your candles set to the same window size as this indicator, and also to offset that SMA to the left by half its window size. For example, a 90-period SMA should be offset by -45 periods. That will cause it to be correctly aligned with this trend signal.
Repeated Median Regression ChannelThis script uses the Repeated Median (RM) estimator to construct a linear regression channel and thus offers an alternative to the available codes based on ordinary least squares.
The RM estimator is a robust linear regression algorithm. It was proposed by Siegel in 1982 (1) and has since found many applications in science and engineering for linear trend estimation and data filtering.
The key difference between RM and ordinary least squares methods is that the slope of the RM line is significantly less affected by data points that deviate strongly from the established trend. In statistics, these points are usually called outliers, while in the context of price data, they are associated with gaps, reversals, breaks from the trading range. Thus, robustness to outlier means that the nascent deviation from a predetermined trend will be more clearly seen in the RM regression compared to the least-squares estimate. For the same reason, the RM model is expected to better depict gaps and trend changes (2).
Input Description
Length : Determines the length of the regression line.
Channel Multiplier : Determines the channel width in units of root-mean-square deviation.
Show Channel : If switched off , only the (central) regression line is displayed.
Show Historical Broken Channel : If switched on , the channels that were broken in the past are displayed. Note that a certain historical broken channel is shown only when at least Length / 2 bars have passed since the last historical broken channel.
Print Slope : Displays the value of the current RM slope on the graph.
Method
Calculation of the RM regression line is done as follows (1,3):
For each sample point ( t (i), y (i)) with i = 1.. Length , the algorithm calculates the median of all the slopes of the lines connecting this point to the other Length -1 points.
The regression slope is defined as the median of the set of these median slopes.
The regression intercept is defined as the median of the set { y (i) – m * t (i)}.
Computational Time
The present implementation utilizes a brute-force algorithm for computing the RM-slope that takes O ( Length ^2) time. Therefore, the calculation of the historical broken channels might take a relatively long time (depending on the Length parameter). However, when the Show Historical Broken Channel option is off, only the real-time RM channel is calculated, and this is done quite fast.
References
1. A. F. Siegel (1982), Robust regression using repeated medians, Biometrika, 69 , 242–244.
2. P. L. Davies, R. Fried, and U. Gather (2004), Robust signal extraction for on-line monitoring data, Journal of Statistical Planning and Inference 122 , 65-78.
3. en.wikipedia.org
EMA TrendThe purpose of this script is to identify price trends based on EMAs. The relative position of price to specific EMAs and the position of certain EMAs towards each other are used to determine the trend direction. The script is intended for investors as a tool to define a basis for further evaluation. I do not use the script as a signal generator and would not recommend doing so without the help of additional indicators.
How to work with the script
The major (or long term) trend direction is determined by the 144 EMA much in the same way as the 200 MA is used in other systems. If the price is above the 144 EMA we are in a long term uptrend, below we are in a long term downtrend. This is to be taken with a grain of salt though. The 144 EMA is considerably shorter than the 200 SMA and is more prone to the price fluctuating around it during periods without a strong long term trend. I recommend using this as a confirmation for the short term trend.
The short term trend is derived from the position and slope of the price, the 21 EMA and the 55 EMA. If the price is above the 21 EMA, the 21 above the 55 EMA, both EMAs are sloping upwards and the distance between the two is increasing, we are talking about an uptrend (and vice versa for a downtrend). This is visualized by the color of the fill between the 144 EMA and close price. Green for uptrend, red for downtrend and no color for an undetermined trend.
The EMAs used are: 21 , 34 , 55 , 89 , 144 , 233 . Most of the EMAs are at 50 transparency to appear less dominant. For orientation, the 144 EMA is bright green to indicate its general importance for the trend determination, and the 55 EMAs is not transparent mainly to be able to identify positioning when the EMAs are close together.
Base time frame EMA
The 144 EMA is plotted twice where one is fixed to the daily time frame (can be configured) to be able to have the 144 on different timeframes during analysis. I find this very useful to keep the focus on my main time frame while analyzing trend on lower or higher time frames. This can also be turned off.
Configurability
This script is less configurable than I generally like with my other scripts. The reason is that the title attribute of the plots is not dynamic, and I use the data window often to get exact values from the script to determine buy targets for pullbacks and other things. Hence, I prefer not to have random names (or no names) in there to save mental capacity. If this ever becomes available, I'll gladly add this to this script. Till then, I encourage you to take the script and adjust it to your own needs. It should be simple enough even if you are just starting out in pine.
MJ ECT== One Line Introduction ==
ECT is a multi-level, trend focused technical indicator based on a three-step hierarchical approach - comprising the tide, wave, and ripple - to trend identification.
== Indicator Philosophy ==
The author believes that market trends can be understood in a three-step hierarchy, with tide at the top, wave in the middle, and ripple at the bottom, corresponding to long-, middle-, and short-term momentum in the stock price. This indicator therefore comprises three technical indicators which aims to reflect the abovementioned features of a trend. These three components are True Strength Index (TSI), Exponential Moving Averages ( EMA ), and Commodity Channel Index ( CCI ).
== Indicator Components and Breakdown ==
True Strength Index (TSI) -> Tide
A 20-period TSI is used to visualize the bullish or bearish sentiment surrounding the stock. Crossovers above the zero line are interpreted as bullish while crossovers below the zero line are interpreted as bearish . This is painted into the background where green represents bullish and red represents bearish . While the background is red ( bearish ), no bullish positions should be taken. Hence, the TSI painted background acts as a directional bias filter and going against the bias is not recommended. After understanding the directional bias, the user can delve further into the areas of value for the stock in the Wave.
Exponential Moving Averages ( EMA ) -> Wave
Four EMA are used (20, 50, 100, 200) to identify the dynamic support and resistance waves in a trending market. Stock price pullbacks into any of these EMA represent areas of value where the user can consider taking positions. The correct EMA to use depends on individual stock's behavior, with multiple bounces on a specified EMA being the priority. After understanding which wave best reflects the area of value of a stock, the user can move on to the Ripple to time their entries.
Commodity Channel Index ( CCI ) -> Ripple
A 5-period CCI is used to identify short-term oversold conditions where prices are on discount. Discount is defined by the 5-period CCI crossing below -100 as it reflects a weekly oversold condition. The indicator will display a small triangle below the candle when this condition is met.
== Ready To Deploy Field Manual ==
When background is painted red, do nothing.
When background is painted green, begin thinking of bullish opportunities.
Look for the specific EMA that has the most bounces of stock price in recent months, this is the area of value to look for buying opportunity.
For the candles that intersect the EMA you identified above, watch for the appearance of a small triangle below the candle that tells you the entry timing.
When the entry timing signal triangle appears, remember the High of that candle and buy your position when the subsequent candle breaks above this High.
If the High is not broken above in the next immediate candle, remember the newer High of the newer candle (basically follow / trail the latest High until a break above is hit).
If the background turns from green to red, stop following the High and do not enter because the market sentiment has changed to bearish .
If you are holding an existing position and the background turns red, consider exiting the position. You may consider remembering the Low of the candle and exit your position if this Low is broken below on a subsequent candle.
== Best Wishes ==
The author wishes the best success for all users of this technical indicator.
