MTF Squeeze Analyzer - [tradeviZion]MTF Squeeze Analyzer
Multi-Timeframe Squeeze Pro Analyzer Tool
Overview:
The MTF Squeeze Analyzer is a comprehensive tool designed to help traders monitor the TTM Squeeze indicator across multiple timeframes in a streamlined and efficient manner. Built with Pine Script™ version 5, this indicator enhances your market analysis by providing detailed insights into squeeze conditions and momentum shifts, enabling you to make more informed trading decisions.
Key Features:
1. Multi-Timeframe Monitoring:
Comprehensive Coverage: Track squeeze conditions across multiple timeframes, including 1-minute, 5-minute, 15-minute, 30-minute, 1-hour, 2-hour, 4-hour, and daily charts.
Squeeze Counts: Keep count of the number of consecutive bars the price has been within each squeeze level (low, mid, high), helping you assess the strength and duration of consolidation periods.
2. Dynamic Table Display:
Customizable Appearance: Adjust table position, text size, and colors to suit your preferences.
Color-Coded Indicators: Easily identify squeeze levels and momentum shifts with intuitive color schemes.
Message Integration: Features rotating messages to keep you engaged and informed.
3. Alerts for Key Market Events:
Squeeze Start and Fire Alerts: Receive notifications when a squeeze starts or fires on your selected timeframes.
Custom Squeeze Count Alerts: Set thresholds for squeeze counts and get alerted when these levels are reached, allowing you to anticipate potential breakouts.
Fully Customizable: Choose which alerts you want to receive and tailor them to your trading strategy.
4. Momentum Analysis:
Momentum Oscillator: Visualize momentum using a histogram that changes color based on momentum shifts.
Detailed Insights: Determine whether momentum is increasing or decreasing to make more strategic trading decisions.
How It Works:
The indicator is based on the TTM Squeeze concept, which identifies periods of low volatility where the market is "squeezing" before a potential breakout. It analyzes the relationship between Bollinger Bands and Keltner Channels to determine squeeze conditions and uses linear regression to calculate momentum.
1. Squeeze Levels:
No Squeeze (Green): Market is not in a squeeze.
Low Compression Squeeze (Gray): Mild consolidation, potential for a breakout.
Mid Compression Squeeze (Red): Moderate consolidation, higher breakout potential.
High Compression Squeeze (Orange): Strong consolidation, significant breakout potential.
2. Squeeze Counts:
Tracks the number of consecutive bars in each squeeze condition.
Helps identify how long the market has been consolidating, providing clues about potential breakout timing.
3. Momentum Histogram:
Upward Momentum: Shown in aqua or blue, indicating increasing or decreasing upward momentum.
Downward Momentum: Displayed in red or yellow, representing increasing or decreasing downward momentum.
Using Alerts:
Stay ahead of market movements with customizable alerts:
1. Enable Alerts in Settings:
Squeeze Start Alert: Get notified when a new squeeze begins.
Squeeze Fire Alert: Be alerted when a squeeze ends, signaling a potential breakout.
Squeeze Count Alert: Set a specific number of bars for a squeeze condition, and receive an alert when this count is reached.
2. Set Up Alerts on Your Chart:
Click on the indicator name and select " Add Alert on MTF Squeeze Analyzer ".
Choose your desired alert conditions and customize the notification settings.
Click " Create " to activate the alerts.
How to Set It Up:
1. Add the Indicator to Your Chart:
Search for " MTF Squeeze Analyzer " in the TradingView Indicators library.
Add it to your chart.
2. Customize Your Settings:
Table Display:
Choose whether to show the table and select its position on the chart.
Adjust text size and colors to enhance readability.
Timeframe Selection:
Select the timeframes you want to monitor.
Enable or disable specific timeframes based on your trading strategy.
Colors & Styles:
Customize colors for different squeeze levels and momentum shifts.
Adjust header and text colors to match your chart theme.
Alert Settings:
Enable alerts for squeeze start, squeeze fire, and squeeze counts.
Set your preferred squeeze type and count threshold for alerts.
3. Interpret the Data:
Table Information:
The table displays the squeeze status and counts for each selected timeframe.
Colors indicate the type of squeeze, making it easy to assess market conditions at a glance.
Momentum Histogram:
Use the histogram to gauge the strength and direction of market momentum.
Observe color changes to identify shifts in momentum.
Why Use MTF Squeeze Analyzer ?
Enhanced Market Insight:
Gain a deeper understanding of market dynamics by monitoring multiple timeframes simultaneously.
Identify potential breakout opportunities by analyzing squeeze durations and momentum shifts.
Customizable and User-Friendly:
Tailor the indicator to fit your trading style and preferences.
Easily adjust settings without needing to delve into the code.
Time-Efficient:
Save time by viewing all relevant squeeze information in one place.
Reduce the need to switch between different charts and timeframes.
Stay Informed with Alerts:
Never miss a critical market movement with fully customizable alerts.
Focus on other tasks while the indicator monitors the market for you.
Acknowledgment:
This tool builds upon the foundational work of John Carter , who developed the TTM Squeeze concept. It also incorporates enhancements from LazyBear and Makit0 , providing a more versatile and powerful indicator. MTF Squeeze Analyzer extends these concepts by adding multi-timeframe analysis, squeeze counting, and advanced alerting features, offering traders a comprehensive solution for market analysis.
Note: Always practice proper risk management and test the indicator thoroughly to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
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Easy MA SignalsEasy MA Signals
Overview
Easy MA Signals is a versatile Pine Script indicator designed to help traders visualize moving average (MA) trends, generate buy/sell signals based on crossovers or custom price levels, and enhance chart analysis with volume-based candlestick coloring. Built with flexibility in mind, it supports multiple MA types, crossover options, and customizable signal appearances, making it suitable for traders of all levels. Whether you're a day trader, swing trader, or long-term investor, this indicator provides actionable insights while keeping your charts clean and intuitive.
Configure the Settings
The indicator is divided into three input groups for ease of use:
General Settings:
Candlestick Color Scheme: Choose from 10 volume-based color schemes (e.g., Sapphire Pulse, Emerald Spark) to highlight high/low volume candles. Select “None” for TradingView’s default colors.
Moving Average Length: Set the MA period (default: 20). Adjust for faster (lower values) or slower (higher values) signals.
Moving Average Type: Choose between SMA, EMA, or WMA (default: EMA).
Show Buy/Sell Signals: Enable/disable signal plotting (default: enabled).
Moving Average Crossover: Select a crossover type (e.g., MA vs VWAP, MA vs SMA50) for signals or “None” to disable.
Volume Influence: Adjust how volume impacts candlestick colors (default: 1.2). Higher values make thresholds stricter.
Signal Appearance Settings:
Buy/Sell Signal Shape: Choose shapes like triangles, arrows, or labels for signals.
Buy/Sell Signal Position: Place signals above or below bars.
Buy/Sell Signal Color: Customize colors for better visibility (default: green for buy, red for sell).
Custom Price Alerts:
Custom Buy/Sell Alert Price: Set specific price levels for alerts (default: 0, disabled). Enter a non-zero value to enable.
Set Up Alerts
To receive notifications (e.g., sound, popup, email) when signals or custom price levels are hit:
Click the Alert button (alarm clock icon) in TradingView.
Select Easy MA Signals as the condition and choose one of the four alert types:
MA Crossover Buy Alert: Triggers on MA crossover buy signals.
MA Crossover Sell Alert: Triggers on MA crossover sell signals.
Custom Buy Alert: Triggers when price crosses above the custom buy price.
Custom Sell Alert: Triggers when price crosses below the custom sell price.
Enable Play Sound and select a sound (e.g., “Bell”).
Set the frequency (e.g., Once Per Bar Close for confirmed signals) and create the alert.
Analyze the Chart
Moving Average Line: Displays the selected MA with color changes (green for bullish, red for bearish, gray for neutral) based on price position relative to the MA.
Buy/Sell Signals: Appear as shapes or labels when crossovers or custom price levels are hit.
Candlestick Colors: If a color scheme is selected, candles change color based on volume strength (high, low, or neutral), aiding in trend confirmation.
Why Use Easy MA Signals?
Easy MA Signals is designed to simplify technical analysis while offering advanced customization. It’s ideal for traders who want:
A clear visualization of MA trends and crossovers.
Flexible signal generation based on MA crossovers or custom price levels.
Volume-enhanced candlestick coloring to identify market strength.
Easy-to-use settings with tooltips for beginners and pros alike.
This script is particularly valuable because it combines multiple features into one indicator, reducing chart clutter and providing actionable insights without overwhelming the user.
Benefits of Easy MA Signals
Highly Customizable: Supports SMA, EMA, and WMA with adjustable lengths.
Offers multiple crossover options (VWAP, SMA10, SMA20, etc.) for tailored strategies.
Custom price alerts allow precise targeting of key levels.
Volume-Based Candlestick Coloring: 10 unique color schemes highlight volume strength, helping traders confirm trends.
Adjustable volume influence ensures adaptability to different markets.
Flexible Signal Visualization: Choose from various signal shapes (triangles, arrows, labels) and positions (above/below bars).
Customizable colors improve visibility on any chart background.
Alert Integration: Built-in alert conditions for crossovers and custom prices support sound, email, and app notifications.
Easy setup for real-time trading decisions.
User-Friendly Design: Organized input groups with clear tooltips make configuration intuitive.
Suitable for beginners and advanced traders alike.
Example Use Cases
Swing Trading with MA Crossovers:
Scenario: A trader wants to trade Bitcoin (BTC/USD) on a 4-hour chart using an EMA crossover strategy.
Setup:
Set Moving Average Type to EMA, Length to 20.
Set Moving Average Crossover to “MA vs SMA50”.
Enable Show Buy/Sell Signals and choose “arrowup” for buy, “arrowdown” for sell.
Select “Emerald Spark” for candlestick colors to highlight volume surges.
Usage: Buy when the EMA20 crosses above the SMA50 (green arrow appears) and volume is high (dark green candles). Sell when the EMA20 crosses below the SMA50 (red arrow). Set alerts for real-time notifications.
Scalping with Custom Price Alerts:
Scenario: A day trader monitors Tesla (TSLA) on a 5-minute chart and wants alerts at specific support/resistance levels.
Setup:
Set Custom Buy Alert Price to 150.00 (support) and Custom Sell Alert Price to 160.00 (resistance).
Use “labelup” for buy signals and “labeldown” for sell signals.
Keep Moving Average Crossover as “None” to focus on price alerts.
Usage: Receive a sound alert and label when TSLA crosses 150.00 (buy) or 160.00 (sell). Use volume-colored candles to confirm momentum before entering trades.
When NOT to Use Easy MA Signals
High-Frequency Trading: Reason: The indicator relies on moving averages and volume, which may lag in ultra-fast markets (e.g., sub-second trades). High-frequency traders may need specialized tools with real-time tick data.
Alternative: Use order book or market depth indicators for faster execution.
Low-Volatility or Sideways Markets:
Reason: MA crossovers and custom price alerts can generate false signals in choppy, range-bound markets, leading to whipsaws.
Alternative: Use oscillators like RSI or Bollinger Bands to trade within ranges.
This indicator is tailored more towards less experienced traders. And as always, paper trade until you are comfortable with how this works if you're unfamiliar with trading! We hope you enjoy this and have great success. Thanks for your interested in Easy MA Signals!
WillStop Pro [tradeviZion]WillStop Pro : A Step-by-Step Guide for Beginners to Master Trend Trading
Welcome to an in-depth guide to the WillStop Pro indicator. This article will walk you through the key features, how to use them effectively, and how this tool can help you navigate the markets confidently. WillStop Pro is based on principles established by Larry Williams, a well-known figure in trading, and aims to help you manage trades more effectively without overcomplicating things.
This guide will help you understand the basics of the WillStop Pro indicator, how to interpret its signals, and how to use it step-by-step to manage risk and identify opportunities in your trading journey. We will also cover the underlying logic and calculations for advanced users interested in more details.
What is the WillStop Pro Indicator?
The WillStop Pro indicator is a user-friendly tool that helps traders establish stop levels dynamically. It helps you figure out optimal points to enter or exit trades, while managing risk effectively during changing market conditions. The indicator tracks trending markets and sets price levels as stops for ongoing trades, making it suitable both for deciding when to enter and exit trades.
The indicator is beginner-friendly because it simplifies complex calculations and presents the results visually. This allows traders to focus more on their decision-making process instead of spending time with complex analysis.
WillStop Pro adapts to different market conditions, whether you're trading stocks, forex, commodities, or cryptocurrencies. It adjusts stop levels dynamically based on current market momentum, providing a practical way to manage both risk and reward.
Another significant benefit of WillStop Pro is that it works well with other indicators. Beginners can use it on its own or combine it with other tools like moving averages or oscillators to form a comprehensive trading strategy. Whether you are trading daily or looking at longer-term trends, WillStop Pro helps you manage your trades effectively.
Key Features of WillStop Pro
Dynamic Stop Levels : WillStop Pro calculates real-time stop levels for both long (buy) and short (sell) positions. This helps you protect your profits and reduce risk. The stop levels adjust based on the current market environment, making them more adaptable compared to fixed stop levels.
Advanced Stop Settings : There are optional settings to make the stop calculations more advanced, which take into consideration previous price movements to refine where the stops should be placed. These settings provide more precise control over your trades.
Break Signals and Alerts : The indicator provides visual signals, like arrows, to show when a stop level has been broken. This makes it easier for you to identify possible reversals and understand when the market direction is changing.
Comprehensive Table Display : A small table on the chart shows the current trend, the stop level, and whether advanced mode is active. This simple display provides an overview of the market, making decision-making easier.
Based on Larry Williams' Methodology : WillStop Pro builds upon Larry Williams' ideas, which are designed to capture major market trends while managing risk effectively. It provides a systematic way to follow these strategies without requiring deep technical analysis skills.
How Are Stop Levels Calculated? (For Advanced Users)
The WillStop Pro indicator determines stop levels by evaluating highs, lows, and closing prices over a specific lookback period. It uses this information to identify key points that justify adjusting your stop level, and there are separate approaches for both long and short positions.
Below, we explain the mathematical logic behind the stop calculations, along with some code snippets to give advanced users a clearer understanding.
For Long Stops (buy positions): The indicator looks for the highest closing price within the lookback period and continues until it finds three valid bars that meet certain criteria. Stops are adjusted to skip bars that have consecutive upward closes to ensure that the stop is placed at a level that offers solid support. Specifically, the function iterates over recent bars to determine the highest closing value, and checks for specific conditions before finalizing the stop level. Here is an excerpt of the relevant code:
getTrueLow(idx) => math.min(low , close )
findStopLevels() =>
float highestClose = close
int highestCloseIndex = 0
for i = 0 to lookback
if close > highestClose
highestClose := close
highestCloseIndex := i
// Logic to adjust based on up close skipping
int longCount = 0
int longCurrentIndex = highestCloseIndex
while longCount < 3 and longCurrentIndex < 100
if not isInsideBar(longCurrentIndex)
longCount += 1
longCurrentIndex += 1
// Determine the lowest low for the stop level
float longStopLevel = high * 2
for i = searchIndex to highestCloseIndex
longStopLevel := math.min(longStopLevel, getTrueLow(i))
// Apply offset
longStopLevel := longStopLevel - (offsetTicks * tickSize)
In this code snippet, the function findStopLevels() calculates the long stop level by first identifying the highest close within the lookback period and then finding a suitable support level while skipping certain conditions, such as inside bars or consecutive upward closes. Finally, the user-defined offset ( offsetTicks ) is applied to determine the stop level.
For Short Stops (sell positions): Similarly, the indicator finds the lowest closing price within the lookback period and then identifies three bars that fit the conditions for a short stop. It avoids using bars with consecutive down closes to help find a more robust resistance level. Here's a relevant code snippet:
getTrueHigh(idx) => math.max(high , close )
findStopLevels() =>
float lowestClose = close
int lowestCloseIndex = 0
for i = 0 to lookback
if close < lowestClose
lowestClose := close
lowestCloseIndex := i
// Logic to adjust based on down close skipping
int shortCount = 0
int shortCurrentIndex = lowestCloseIndex
while shortCount < 3 and shortCurrentIndex < 100
if not isInsideBar(shortCurrentIndex)
shortCount += 1
shortCurrentIndex += 1
// Determine the highest high for the stop level
float shortStopLevel = 0
for i = searchIndex to lowestCloseIndex
shortStopLevel := math.max(shortStopLevel, getTrueHigh(i))
// Apply offset
shortStopLevel := shortStopLevel + (offsetTicks * tickSize)
Here, findStopLevels() calculates the short stop level by finding the lowest closing price within the lookback period. It then determines the highest value that acts as a resistance level, excluding bars that do not fit certain criteria.
Volume Confirmation for Alert Accuracy : To further enhance the stop level accuracy, volume is used as a confirmation filter. The average volume (volAvg) is calculated over a 20-period moving average, and alerts are only generated if the volume exceeds a defined threshold (volMultiplier). This ensures that price movements are significant enough to consider as meaningful signals.
volAvg = ta.sma(volume, 20)
isVolumeConfirmed() =>
result = requireVolumeConfirmation ? volume > (volAvg * volMultiplier) : true
result
This additional logic ensures that stop level breaks or adjustments are not triggered during periods of low trading activity, thus enhancing the reliability of the generated signals.
These calculations are at the core of WillStop Pro's ability to determine dynamic stop levels that respond effectively to market movements, helping traders manage risk by placing stops at levels that make sense given historical price and volume data.
How to Identify Opportunities with WillStop Pro
WillStop Pro provides various signals that help you decide when to enter or exit a trade:
When a Stop Level is Broken: If a stop level (support for long positions or resistance for short positions) is broken, it may indicate a reversal. WillStop Pro visually plots arrows whenever a stop level is breached, making it easy for you to see where changes might occur. This feature helps traders identify momentum shifts quickly.
Support and Resistance Levels: The indicator plots support and resistance levels, which show key zones to watch for opportunities. These levels often act as psychological barriers in the market, where price action may either reverse or stall temporarily.
Dynamic State Management: The indicator shifts between long and short states based on price action, providing real-time feedback. This helps traders stick to their trading plan without second-guessing the market.
A major advantage of WillStop Pro is that it responds well to changing market conditions. By identifying when key support or resistance levels break, it allows you to adjust your strategies and react to new opportunities accordingly. Whether the market is trending strongly or staying within a range, WillStop Pro provides valuable information to help guide your trades.
Setting Up Alerts
Alerts are an important feature in trading, especially when you can’t be in front of your charts all the time. WillStop Pro has been enhanced to include flexible alert settings to help you stay on top of your trades without constantly monitoring the charts.
Enable Alerts: There is a master switch to enable or disable all alerts. This way, you can control whether you want to be notified of events at any time.
Alert Frequency: Choose between receiving alerts Once Per Bar or Once Per Bar Close . This helps you manage the frequency of alerts and decide if you need real-time updates or want confirmation after a bar closes.
Break Alerts: These alerts notify you when a stop level has been broken. This can help you catch potential reversals or trading opportunities as soon as they happen.
Strong Break Alerts: Alerts are available for strong breaks, which occur when the price breaks stop levels with confirmation based on additional price, volume, and momentum criteria. These alerts help identify significant shifts in the market.
Level Change Alerts: These alerts tell you whenever a new stop level is calculated, keeping you updated about changes in market dynamics. You can set a Minimum Level Change % to ensure that alerts are only triggered when the stop level changes significantly.
Require Volume Confirmation: You can opt to receive alerts only if the volume is above a certain threshold. This confirmation helps reduce false signals by ensuring that significant price changes are backed by increased trading activity.
Volume Multiplier: The volume multiplier allows you to set a minimum volume requirement that must be met for an alert to trigger. This ensures that alerts are triggered only when there is sufficient trading interest.
Here is a part of the updated alert logic that has been implemented in the indicator:
// Alert on break conditions
if alertsEnabled
if alertOnBreaks
if longStopBroken and isVolumeConfirmed()
alert(createAlertMessage("Support Break - Short Signal", useAdvancedStops), alertFreq)
if shortStopBroken and isVolumeConfirmed()
alert(createAlertMessage("Resistance Break - Long Signal", useAdvancedStops), alertFreq)
// Strong break alerts
if alertOnStrongBreaks
if longStopBroken and isStrongBreak(false)
alert(createAlertMessage("Strong Support Break - Short Signal", useAdvancedStops), alertFreq)
if shortStopBroken and isStrongBreak(true)
alert(createAlertMessage("Strong Resistance Break - Long Signal", useAdvancedStops), alertFreq)
// Level change alerts
if alertOnLevelChanges and isSignificantChange() and isVolumeConfirmed()
alert(createAlertMessage("Significant Level Change", useAdvancedStops), alertFreq)
Setting alerts allows you to react to market changes without having to watch the charts constantly. Alerts are particularly helpful if you have other responsibilities and can’t be actively monitoring your trades all day.
Understanding the Table Display
The WillStop Pro indicator provides a status table that gives an overview of the current market state. Here’s what the table shows:
Indicator Status: The table indicates whether the indicator is in a LONG or SHORT state. This helps you quickly understand the market trend.
Stop Level: The active stop level is shown, whether it is acting as support (long) or resistance (short). This is important for knowing where to set your protective stops.
Mode: The table also displays whether the advanced calculation mode is being used. This keeps you informed about how stop levels are being calculated and why they are positioned where they are.
Empowering Messages: The table also includes motivational messages that rotate periodically, such as 'Trade with Clarity, Stop with Precision' and 'Let Winners Run, Cut Losses Short.' These messages are designed to keep you focused, motivated, and disciplined during your trading journey.
The table is simple and easy to follow, helping you maintain discipline in your trading plan. By having all the essential information in one place, the table reduces the need to make quick, emotional decisions and promotes more thoughtful analysis.
Tips for Using WillStop Pro Effectively
Here are some practical ways to make the most of the WillStop Pro indicator:
Start with Default Settings: If you’re new to the indicator, start with the default settings. This will give you an idea of how stop levels are determined and how they adjust to different markets.
Experiment with Advanced Settings: Once you are comfortable, try using the advanced stop settings to see how they refine the stop levels. This can be useful in certain market conditions to improve accuracy.
Use Alerts to Stay Updated: Set up alerts for when a stop level is broken or when new levels are calculated. This helps you take action without constantly watching the chart. Swing traders may find alerts especially helpful for monitoring longer-term moves.
Monitor the Status Table: Keep an eye on the status table to understand the current market condition. Whether the indicator is in a LONG or SHORT state can help you make more informed decisions.
Focus on Risk Management: WillStop Pro is designed to help you manage risk by dynamically adjusting stop levels. Make sure you are using these levels to protect your trades, especially during strong trends or volatile periods.
Acknowledging Larry Williams' Influence
WillStop Pro is inspired by the work of Larry Williams, who described the approach as one of his best trading techniques. His method aims to ride major market trends while reducing the risk of giving back gains during corrections. WillStop Pro builds upon this approach, adding features like advanced stop settings and visual alerts that make it easier to apply in modern markets.
By using WillStop Pro, you are essentially leveraging a well-established trading strategy with additional tools that help improve its effectiveness. The indicator is designed to provide a reliable way to manage trades, stay on top of market conditions, and reduce emotional decision-making.
Conclusion: Why WillStop Pro is Great for Beginners and Advanced Users
The WillStop Pro is a powerful yet easy-to-use tool that helps traders ride trends while managing risk during market corrections. It can be used both for entering and exiting trades, and its visual features make it accessible for those who are new to trading, while the underlying logic appeals to advanced users seeking greater control and understanding.
WillStop Pro is more than just a tool for setting stops. It is a comprehensive solution for managing trades, with features like dynamic stop levels, customizable alerts, and an easy-to-understand status table. This combination of simplicity and advanced features makes it suitable for beginners as well as more experienced traders.
We hope this guide helps you get started with WillStop Pro and improves your trading confidence. Remember to start with the basics, explore the advanced features, and set alerts to stay informed without getting overwhelmed. Whether you’re just beginning or want to simplify your strategy, WillStop Pro is a valuable tool to have in your trading arsenal.
Trading can be challenging, but the right tools make it more manageable. WillStop Pro helps you keep track of market movements, identify opportunities, and manage risk effectively. Give it a try and see how it can improve your trading decisions and help you navigate the markets more efficiently.
By incorporating WillStop Pro into your strategy, you are following a systematic approach that has been refined over time. It’s designed to help you make sense of the markets, plan your trades, and manage your risks with greater clarity and confidence.
Note: Always practice proper risk management and thoroughly test the indicator to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
Uptrick: DPO Signal & Zone Indicator
## **Uptrick: DPO Signal & Zone Indicator**
### **Introduction:**
The **Uptrick: DPO Signal & Zone Indicator** is a sophisticated technical analysis tool tailored to provide insights into market momentum, identify potential trading signals, and recognize extreme market conditions. It leverages the Detrended Price Oscillator (DPO) to strip out long-term trends from price movements, allowing traders to focus on short-term fluctuations and cyclical behavior. The indicator integrates multiple components, including a Detrended Price Oscillator, a Signal Line, a Histogram, and customizable alert levels, to deliver a robust framework for market analysis and trading decision-making.
### **Detailed Breakdown:**
#### **1. Detrended Price Oscillator (DPO):**
- **Purpose and Functionality:**
- The DPO is designed to filter out long-term trends from the price data, isolating short-term price movements. This helps in understanding the cyclical patterns and momentum of an asset, allowing traders to detect periods of acceleration or deceleration that might be overlooked when focusing solely on long-term trends.
- **Calculation:**
- **Formula:** `dpo = close - ta.sma(close, smaLength)`
- **`close`:** The asset’s closing price for each period in the dataset.
- **`ta.sma(close, smaLength)`:** The Simple Moving Average (SMA) of the closing prices over a period defined by `smaLength`.
- The DPO is derived by subtracting the SMA value from the current closing price. This calculation reveals how much the current price deviates from the moving average, effectively detrending the price data.
- **Interpretation:**
- **Positive DPO Values:** Indicate that the current price is higher than the moving average, suggesting bullish market conditions and a potential upward trend.
- **Negative DPO Values:** Indicate that the current price is lower than the moving average, suggesting bearish market conditions and a potential downward trend.
- **Magnitude of DPO:** Reflects the strength of momentum. Larger positive or negative values suggest stronger momentum in the respective direction.
#### **2. Signal Line:**
- **Purpose and Functionality:**
- The Signal Line is a smoothed average of the DPO, intended to act as a reference point for generating trading signals. It helps to filter out short-term fluctuations and provides a clearer perspective on the prevailing trend.
- **Calculation:**
- **Formula:** `signalLine = ta.sma(dpo, signalLength)`
- **`ta.sma(dpo, signalLength)`:** The SMA of the DPO values over a period defined by `signalLength`.
- The Signal Line is calculated by applying a moving average to the DPO values. This smoothing process reduces noise and highlights the underlying trend direction.
- **Interpretation:**
- **DPO Crossing Above Signal Line:** Generates a buy signal, suggesting that short-term momentum is turning bullish relative to the longer-term trend.
- **DPO Crossing Below Signal Line:** Generates a sell signal, suggesting that short-term momentum is turning bearish relative to the longer-term trend.
- **Signal Line’s Role:** Provides a benchmark for assessing the strength of the DPO. The interaction between the DPO and the Signal Line offers actionable insights into potential entry or exit points.
#### **3. Histogram:**
- **Purpose and Functionality:**
- The Histogram visualizes the difference between the DPO and the Signal Line. It provides a graphical representation of momentum strength and direction, allowing traders to quickly gauge market conditions.
- **Calculation:**
- **Formula:** `histogram = dpo - signalLine`
- The Histogram is computed by subtracting the Signal Line value from the DPO value. Positive values indicate that the DPO is above the Signal Line, while negative values indicate that the DPO is below the Signal Line.
- **Interpretation:**
- **Color Coding:**
- **Green Bars:** Represent positive values, indicating bullish momentum.
- **Red Bars:** Represent negative values, indicating bearish momentum.
- **Width of Bars:** Indicates the strength of momentum. Wider bars signify stronger momentum, while narrower bars suggest weaker momentum.
- **Zero Line:** A horizontal gray line that separates positive and negative histogram values. Crosses of the histogram through this zero line can signal shifts in momentum direction.
#### **4. Alert Levels:**
- **Purpose and Functionality:**
- Alert levels define specific thresholds to identify extreme market conditions, such as overbought and oversold states. These levels help traders recognize potential reversal points and extreme market conditions.
- **Inputs:**
- **`alertLevel1`:** Defines the upper threshold for identifying overbought conditions.
- **Default Value:** 0.5
- **`alertLevel2`:** Defines the lower threshold for identifying oversold conditions.
- **Default Value:** -0.5
- **Interpretation:**
- **Overbought Condition:** When the DPO exceeds `alertLevel1`, indicating that the market may be overbought. This condition suggests that the asset could be due for a correction or reversal.
- **Oversold Condition:** When the DPO falls below `alertLevel2`, indicating that the market may be oversold. This condition suggests that the asset could be poised for a rebound or reversal.
#### **5. Visual Elements:**
- **DPO and Signal Line Plots:**
- **DPO Plot:**
- **Color:** Blue
- **Width:** 2 pixels
- **Purpose:** To visually represent the deviation of the current price from the moving average.
- **Signal Line Plot:**
- **Color:** Red
- **Width:** 1 pixel
- **Purpose:** To provide a smoothed reference for the DPO and generate trading signals.
- **Histogram Plot:**
- **Color Coding:**
- **Green:** For positive values, signaling bullish momentum.
- **Red:** For negative values, signaling bearish momentum.
- **Style:** Histogram bars are displayed with varying width to represent the strength of momentum.
- **Zero Line:** A gray horizontal line separating positive and negative histogram values.
- **Overbought/Oversold Zones:**
- **Background Colors:**
- **Green Shading:** Applied when the DPO exceeds `alertLevel1`, indicating an overbought condition.
- **Red Shading:** Applied when the DPO falls below `alertLevel2`, indicating an oversold condition.
- **Horizontal Lines:**
- **Dotted Green Line:** At `alertLevel1`, marking the upper alert threshold.
- **Dotted Red Line:** At `alertLevel2`, marking the lower alert threshold.
- **Purpose:** To provide clear visual cues for extreme market conditions, aiding in the identification of potential reversal points.
#### **6. Trading Signals and Alerts:**
- **Buy Signal:**
- **Trigger:** When the DPO crosses above the Signal Line.
- **Visual Representation:** A "BUY" label appears below the price bar in the specified buy color.
- **Purpose:** Indicates a potential buying opportunity as short-term momentum turns bullish.
- **Sell Signal:**
- **Trigger:** When the DPO crosses below the Signal Line.
- **Visual Representation:** A "SELL" label appears above the price bar in the specified sell color.
- **Purpose:** Indicates a potential selling opportunity as short-term momentum turns bearish.
- **Overbought/Oversold Alerts:**
- **Overbought Alert:** Triggered when the DPO crosses below `alertLevel1`.
- **Oversold Alert:** Triggered when the DPO crosses above `alertLevel2`.
- **Visual Representation:** Labels "OVERBOUGHT" and "OVERSOLD" appear with distinctive colors and sizes to highlight extreme conditions.
- **Purpose:** To signal potential reversal points and extreme market conditions that may lead to price corrections or trend reversals.
- **Alert Conditions:**
- **DPO Cross Above Signal Line:** Alerts traders when the DPO crosses above the Signal Line, generating a buy signal.
- **DPO Cross Below Signal Line:** Alerts traders when the DPO crosses below the Signal Line, generating a sell signal.
- **DPO Above Upper Alert Level:** Alerts when the DPO is above `alertLevel1`, indicating an overbought condition.
- **DPO Below Lower Alert Level:** Alerts when the DPO is below `alertLevel2`, indicating an oversold condition.
- **Purpose:** To provide real-time notifications of significant market events, enabling traders to make informed decisions promptly.
### **Practical Applications:**
#### **1. Trend Following Strategies:**
- **Objective:**
- To capture and ride the prevailing market trends by entering trades that align with the direction of the momentum.
- **How to Use:**
- Monitor buy and sell signals generated by the DPO crossing the Signal Line. A buy signal suggests a bullish trend and a potential long trade, while a sell signal suggests a bearish trend and a potential short trade.
- Use the Histogram to confirm the strength of the trend. Expanding green bars indicate strong bullish momentum, while expanding red bars indicate strong bearish momentum.
- **Advantages:**
- Helps traders stay aligned with the market trend, increasing the likelihood of capturing substantial price moves.
#### **2. Reversal Trading:**
- **Objective:**
- To identify potential market reversals
by detecting overbought and oversold conditions.
- **How to Use:**
- Look for overbought and oversold signals based on the DPO crossing `alertLevel1` and `alertLevel2`. These conditions suggest that the market may be due for a reversal.
- Confirm reversal signals with the Histogram. A decrease in histogram bars (from green to red or vice versa) may support the reversal hypothesis.
- **Advantages:**
- Provides early warnings of potential market reversals, allowing traders to position themselves before significant price changes occur.
#### **3. Momentum Analysis:**
- **Objective:**
- To gauge the strength and direction of market momentum for making informed trading decisions.
- **How to Use:**
- Analyze the Histogram to assess momentum strength. Positive and expanding histogram bars indicate increasing bullish momentum, while negative and expanding bars suggest increasing bearish momentum.
- Use momentum insights to validate or question existing trading positions and strategies.
- **Advantages:**
- Offers valuable information about the market's momentum, helping traders confirm the validity of trends and trading signals.
### **Customization and Flexibility:**
The **Uptrick: DPO Signal & Zone Indicator** offers extensive customization options to accommodate diverse trading preferences and market conditions:
- **SMA Length and Signal Line Length:**
- Adjust the `smaLength` and `signalLength` parameters to control the sensitivity and responsiveness of the DPO and Signal Line. Shorter lengths make the indicator more responsive to price changes, while longer lengths provide smoother, less volatile signals.
- **Alert Levels:**
- Modify `alertLevel1` and `alertLevel2` to fit varying market conditions and volatility. Setting these levels appropriately helps tailor the indicator to different asset classes and trading strategies.
- **Color and Shape Customization:**
- Customize the colors and sizes of buy/sell signals, histogram bars, and alert levels to enhance visual clarity and align with personal preferences. This customization helps ensure that the indicator integrates seamlessly with a trader's charting setup.
### **Conclusion:**
The **Uptrick: DPO Signal & Zone Indicator** is a multifaceted analytical tool that combines the power of the Detrended Price Oscillator with customizable visual elements and alert levels to deliver a comprehensive approach to market analysis. By offering insights into momentum strength, trend direction, and potential reversal points, this indicator equips traders with valuable information to make informed decisions and enhance their trading strategies. Its flexibility and customization options ensure that it can be adapted to various trading styles and market conditions, making it a versatile addition to any trader's toolkit.
MACD All In One Screener [ChartPrime]INTRODUCTION
MACD All In One Screener (ChartPrime) is a multi instrument, multi timeframe indicator designed to provide traders with a comprehensive solution to monitoring the market. This indicator is designed to be easy to use and visually appealing while also being highly flexible and feature rich. Users can pick up to 10 symbols not including the chart's symbol and set up alerts for many different signals that the MACD produces. One standout feature of this indicator is its ability to display not only each symbol individually as a MACD but you can also view its chart from within this indicator. This removes the need to flip between symbols to see the price action for your basket.
On top of that we have designed this indicator to be friendly with "indicator on indicator" by providing outputs for all of the standards of price that users may want. Included is an overview section that shows all of the symbols signals symbolically over time. Additionally we have included a table for easy monitoring. This table includes the symbol, its timeframe, the current alert, and its histogram state. To make things as user friendly as possible we have also included rich error handling that tells you exactly what is wrong with your configuration.
HOW TO USE
To use this indicator, simply add it to your chart and navigate to the settings. From there select the symbols you want to monitor and the timeframes you want to use. Next you want to navigate down to the alerts section to select the what alerts you want to receive, and what symbols you want to get alerts for. Finally, you wan to create your alert using "Any alert() function call". Now your screener is all set up!
OVERVIEW OF INPUTS
View allows you to select what the indicator currently displays. You can pick from any one of the selected symbols, an overview of all of the symbols, or simply nothing. If you want to only use the table, "None" is provided so you can move the indicator into the chart panel.
View Toggle lets you pick from displaying the MACD for the selected symbol or the Price Action as a candle chart. To see your "indicator on indicator" you will have to select a symbol from the view list. There is a bug where if you select "Overview" while you are using "indicator on indicator" your added indicator will see the last symbol you viewed. To fix this, simply change the setting of your overlaid indicator and it will correct its self.
History Length is the number of historical bars to calculate over. This feature is here to prevent the indicator from breaking due to uneven historical data between the symbols.
Show Price Line toggles a dotted line that follows the current symbols closing price when "Price" is selected under the "View Toggle" dropdown.
Show Symbol Label toggles a label that displays the current symbols name and timeframe. This only impacts the single symbol view.
Overview Label Color adjusts the color of the symbol labels for both overview and single symbol view.
MA Type lets you pick what kind of moving average you want to use for the oscillator or signal. You can pick from the standard SMA or EMA.
Fast Length is a standard input for MACD. This lets you pick the period of the fast MA.
Slow Length , just like Fast Lenght, is a standard input for MACD. This lets you pick the period of the slow MA.
Signal Length is another standard input for MACD. This lets you configure the period of the signal MA.
MACD Cross Overlay Icon is a toggle to display MACD crosses when viewing a single symbol's MACD. When the MACD has a bullish cross it will plot a bullish dot, and when it has a bearish cross it will plot a bearish dot. This is purely visual.
Regular Bullish and Bearish toggles the visual display of the divergences on the single symbol view. This does not effect the indicators ability do send alerts.
Divergence Look Right adjusts the number of bars into the future to look for confirmation of a signal. This directly impacts lag but enhances stability.
Divergence Look Left adjusts the number of bars into the past to check for a signal. A longer period will filter out smaller moves
Maximum Lookback adjusts the maximum size of a divergence.
Minimum Lookback adjusts the minimum size of a divergence.
Divergence Drawings picks how you want to visualize the divergence. You can pick from displaying it as a line, a label, or both.
Enable Table toggles the overview table. When enabled it will show you the enabled symbols and their current state. From left to right: symbol name, timeframe, current alert, and histogram state.
Position picks where on the chart you want the table to be.
Text Color adjusts the text color of the table.
BG Color adjusts the background color of the table.
Frame Color adjust the frame color of the table.
Current Symbol Time Frame adjusts the timeframe of the chart's symbol.
Symbol 1 - 10 pick "Symbol's" symbol and timeframe. To use higher timeframes, the symbol's have to be the same type. You can't have a crypto and a stock using HTF at the same time as they don't have the same sessions and will result in an error. You can use unsafe mode (as described below) to potentially get around this.
Enable Symbol when enabled it will give you alerts for the symbol. This also enables the symbol in the overview. If this is disabled it won't send alerts, and it will not show up in overview, or the table.
Wait for Close enables waiting for the bar to close before printing an alert.
Alert Symbol Size picks what size you want the overview symbols to be.
Enable Cross Over 0 Alert: MACD crosses over the 0 line.
Enable Cross Under 0 Alert: MACD crosses under the 0 line.
Enable MACD Cross Bullish Alert: Bullish MACD cross.
Enable MACD Cross Bearish Alert: Bearish MACD cross.
Enable Histogram Bullish Turn Alert: MACD begins to turn bullish but hasn't crossed.
Enable Histogram Bearish Turn Alert: MACD begins to turn bearish but hasn't crossed.
Enable Histogram Bullish Continuation Alert: MACD is in a bullish cross state and it was declining but began rising again.
Enable Histogram Bearish Continuation Alert: MACD is in a bearish cross state and it was rising but began falling again.
Enable Bullish/Bearish Divergence Alert enables divergence alerts. Divergences are lagging, especially on a higher timeframe. These alerts will also tell you the time in the past when the divergence occurred.
Color Section is provided to allow for personalization of the indicator. Everything can be adjusted here.
Disable Error Checking: Only enable this if you want to bypass the built in error checking. This will enable 'Safe Requesting'. Safe Requesting will only request enabled symbols and you will not be able to view symbols that are not enabled in this mode. Only use this if you want to mix symbol types and you know it will work. (An example would be viewing stocks and SPY at the same time.)
CONCLUSION
The MACD All In One Screener (ChartPrime) is a versatile indicator designed to monitor multiple symbols across various timeframes. The flexibility in customization, from MACD settings to visual alerts and table presentations, allows users to tailor the screener to their needs and preferences. We hope you find this as useful and interesting as we do and wish you good luck in the market!
Enjoy
[e2] Drawing Library :: Horizontal Ray█ OVERVIEW
Library "e2hray"
A drawing library that contains the hray() function, which draws a horizontal ray/s with an initial point determined by a specified condition. It plots a ray until it reached the price. The function let you control the visibility of historical levels and setup the alerts.
█ HORIZONTAL RAY FUNCTION
hray(condition, level, color, extend, hist_lines, alert_message, alert_delay, style, hist_style, width, hist_width)
Parameters:
condition : Boolean condition that defines the initial point of a ray
level : Ray price level.
color : Ray color.
extend : (optional) Default value true, current ray levels extend to the right, if false - up to the current bar.
hist_lines : (optional) Default value true, shows historical ray levels that were revisited, default is dashed lines. To avoid alert problems set to 'false' before creating alerts.
alert_message : (optional) Default value string(na), if declared, enables alerts that fire when price revisits a line, using the text specified
alert_delay : (optional) Default value int(0), number of bars to validate the level. Alerts won't trigger if the ray is broken during the 'delay'.
style : (optional) Default value 'line.style_solid'. Ray line style.
hist_style : (optional) Default value 'line.style_dashed'. Historical ray line style.
width : (optional) Default value int(1), ray width in pixels.
hist_width : (optional) Default value int(1), historical ray width in pixels.
Returns: void
█ EXAMPLES
• Example 1. Single horizontal ray from the dynamic input.
//@version=5
indicator("hray() example :: Dynamic input ray", overlay = true)
import e2e4mfck/e2hray/1 as e2draw
inputTime = input.time(timestamp("20 Jul 2021 00:00 +0300"), "Date", confirm = true)
inputPrice = input.price(54, 'Price Level', confirm = true)
e2draw.hray(time == inputTime, inputPrice, color.blue, alert_message = 'Ray level re-test!')
var label mark = label.new(inputTime, inputPrice, 'Selected point to start the ray', xloc.bar_time)
• Example 2. Multiple horizontal rays on the moving averages cross.
//@version=5
indicator("hray() example :: MA Cross", overlay = true)
import e2e4mfck/e2hray/1 as e2draw
float sma1 = ta.sma(close, 20)
float sma2 = ta.sma(close, 50)
bullishCross = ta.crossover( sma1, sma2)
bearishCross = ta.crossunder(sma1, sma2)
plot(sma1, 'sma1', color.purple)
plot(sma2, 'sma2', color.blue)
// 1a. We can use 2 function calls to distinguish long and short sides.
e2draw.hray(bullishCross, sma1, color.green, alert_message = 'Bullish Cross Level Broken!', alert_delay = 10)
e2draw.hray(bearishCross, sma2, color.red, alert_message = 'Bearish Cross Level Broken!', alert_delay = 10)
// 1b. Or a single call for both.
// e2draw.hray(bullishCross or bearishCross, sma1, bullishCross ? color.green : color.red)
• Example 3. Horizontal ray at the all time highs with an alert.
//@version=5
indicator("hray() example :: ATH", overlay = true)
import e2e4mfck/e2hray/1 as e2draw
var float ath = 0, ath := math.max(high, ath)
bool newAth = ta.change(ath)
e2draw.hray(nz(newAth ), high , color.orange, alert_message = 'All Time Highs Tested!', alert_delay = 10)
Zignaly TutorialThis strategy serves as a beginner's guide to connect TradingView signals to Zignaly Crypto Trading Platform.
It was originally tested at BTCUSDT pair and 1D timeframe.
Before using this documentation it's recommended that you:
Use default TradingView strategy script or another script and setup its associated alert manually. Just make the alert pop-up in the screen.
Create a 'Copy-Trader provider' (or Signal Provider) in Zignaly and send signals to it either thanks to your browser or with some basic programming.
SETTINGS
__ SETTINGS - Capital
(CAPITAL) Capital quote invested per order in USDT units {100.0}. This setting is only used when '(ZIG) Provider type' is set to 'Signal Provider'.
(CAPITAL) Capital percentage invested per order (%) {25.0}. This setting is only used when '(ZIG) Provider type' is set to 'Copy Trader Provider'.
__ SETTINGS - Misc
(ZIG) Enable Alert message {True}: Whether to enable alert message or not.
(DEBUG) Enable debug on order comments {True}: Whether to show alerts on order comments or not.
Number of decimal digits for Prices {2}.
(DECIMAL) Maximum number of decimal for contracts {3}.
__ SETTINGS - Zignaly
(ZIG) Integration type {TradingView only}: Hybrid : Both TradingView and Zignaly handle take profit, trailing stops and stop losses. Useful if you are scared about TradingView not firing an alert. It might arise problems if TradingView and Zignaly get out of sync. TradingView only : TradingView sends entry and exit orders to Zignaly so that Zignaly only buys or sells. Zignaly won't handle stop loss or other settings on its own.
(ZIG) Zignaly Alert Type {WebHook}: 'Email' or 'WebHook'.
(ZIG) Provider type {Copy Trader Provider}: 'Copy Trader Provider' or 'Signal Provider'. 'Copy Trader Provider' sends a percentage to manage. 'Signal Provider' sends a quote to manage.
(ZIG) Exchange: 'Binance' or 'Kucoin'.
(ZIG) Exchange Type {Spot}: 'Spot' or 'Futures'.
(ZIG) Leverage {1}. Set it to '1' when '(ZIG) Exchange Type' is set to 'Spot'.
__ SETTINGS - Strategy
(STRAT) Strategy Type: 'Long and Short', 'Long Only' or 'Short Only'.
(STOPTAKE) Take Profit? {false}: Whether to enable Take Profit.
(STOPTAKE) Stop Loss? {True}: Whether to enable Stop Loss.
(TRAILING) Enable Trailing Take Profit (%) {True}: Whether to enable Trailing Take Profit.
(STOPTAKE) Take Profit % {3.0}: Take profit percentage. This setting is only used when '(STOPTAKE) Take Profit?' setting is set to true.
(STOPTAKE) Stop Loss % {2.0}: Stop loss percentage. This setting is only used when '(STOPTAKE) Stop Loss?' setting is set to true.
(TRAILING) Trailing Take Profit Trigger (%) {2.5}: Trailing Stop Trigger Percentage. This setting is only used when '(TRAILING) Enable Trailing Take Profit (%)' setting is set to true.
(TRAILING) Trailing Take Profit as a percentage of Trailing Take Profit Trigger (%) {25.0}: Trailing Stop Distance Percentage. This setting is only used when '(TRAILING) Enable Trailing Take Profit (%)' setting is set to true.
(RECENT) Number of minutes to wait to open a new order after the previous one has been opened {6}.
DEFAULT SETTINGS
By default this strategy has been setup with these beginner settings:
'(ZIG) Integration type' : TradingView only
'(ZIG) Provider type' : 'Copy Trader Provider'
'(ZIG) Exchange' : 'Binance'
'(ZIG) Exchange Type' : 'Spot'
'(STRAT) Strategy Type' : 'Long Only'
'(ZIG) Leverage' : '1' (Or no leverage)
but you can change those settings if needed.
FIRST STEP
For both future of spot markets you should make sure to change '(ZIG) Zignaly Alert Type' to match either WebHook or Email. If you have a non paid account in TradingView as in October 2020 you would have to use Email which it's free to use.
RECOMMENDED SETTINGS
__ RECOMMENDED SETTINGS - Spot markets
'(ZIG) Exchange Type' setting should be set to 'Spot'
'(STRAT) Strategy Type' setting should be set to 'Long Only'
'(ZIG) Leverage' setting should be set to '1'
__ RECOMMENDED SETTINGS - Future markets
'(ZIG) Exchange Type' setting should be set to 'Futures'
'(STRAT) Strategy Type' setting should be set to 'Long and Short'
'(ZIG) Leverage' setting might be changed if desired.
__ RECOMMENDED SETTINGS - Signal Providers
'(ZIG) Provider type' setting should be set to 'Signal Provider'
'(CAPITAL) Capital quote invested per order in USDT units' setting might be changed if desired.
__ RECOMMENDED SETTINGS - Copy Trader Providers
'(ZIG) Provider type' setting should be set to 'Copy Trader Provider'
'(CAPITAL) Capital percentage invested per order (%)' setting might be changed if desired.
Strategy Properties setting: 'Initial Capital' might be changed if desired.
INTEGRATION TYPE EXPLANATION
'Hybrid': Both TradingView and Zignaly handle take profit, trailing stops and stop losses. Useful if you are scared about TradingView not firing an alert. It might arise problems if TradingView and Zignaly get out of sync.
'TradingView only': TradingView sends entry and exit orders to Zignaly so that Zignaly only buys or sells. Zignaly won't handle stop loss or other settings on its own.
HOW TO USE THIS STRATEGY
Beginner: Copy and paste the strategy and change it to your needs. Turn off '(DEBUG) Enable debug on order comments' setting.
Medium: Reuse functions and inputs from this strategy into your own as if it was a library.
Advanced: Check Strategy Tester. List of trades. Copy and paste the different suggested 'alert_message' variable contents to your script.
Expert: I needed a way to pass data from TradingView script to the alert. Now I know it's the 'alert_message' variable. I can do this own my own.
ALERTS SETUP
This is the important piece of information that allows you to connect TradingView to Zignaly in a semi-automatic manner.
__ ALERTS SETUP - WebHook
Webhook URL: https : // zignaly . com / api / signals.php?key=MYSECRETKEY
Message: { {{strategy.order.alert_message}} , "key" : "MYSECRETKEY" }
__ ALERTS SETUP - Email
Setup a new Hotmail account
Add it as an 'SMS email' in TradingView Profile settings page.
Confirm your own the email address
Create a rule in your Hotmail account that 'Redirects' (not forwards) emails to 'signals @ zignaly . email' when (1): 'Subject' includes 'Alert', (2): 'Email body' contains string 'MYZIGNALYREDIRECTTRIGGER' and (3): 'From' contains 'noreply @ tradingview . com'.
In 'More Actions' check: Send Email-to-SMS
Message: ||{{strategy.order.alert_message}}||key=MYSECRETKEY||
MYZIGNALYREDIRECTTRIGGER
'(DEBUG) Enable debug on order comments' is turned on by default so that you can see in the Strategy Tester. List of Trades. The different orders alert_message that would have been sent to your alert. You might want to turn it off it some many letters in the screen is problem.
STRATEGY ADVICE
If you turn on 'Take Profit' then turn off 'Trailing Take Profit'.
ZIGNALY SIDE ADVICE
If you are a 'Signal Provider' make sure that 'Allow reusing the same signalId if there isn't any open position using it?' setting in the profile tab is set to true.
You can find your 'MYSECRETKEY' in your 'Copy Trader/Signal' provider Edit tab at 'Signal URL'.
ADDITIONAL ZIGNALY DOCUMENTATION
docs . zignaly . com / signals / how-to -- How to send signals to Zignaly
3 Ways to send signals to Zignaly
SIGNALS
FINAL REMARKS
This strategy tries to match the Pine Script Coding Conventions as best as possible.
FVG Premium [no1x]█ OVERVIEW
This indicator provides a comprehensive toolkit for identifying, visualizing, and tracking Fair Value Gaps (FVGs) across three distinct timeframes (current chart, a user-defined Medium Timeframe - MTF, and a user-defined High Timeframe - HTF). It is designed to offer traders enhanced insight into FVG dynamics through detailed state monitoring (formation, partial fill, full mitigation, midline touch), extensive visual customization for FVG representation, and a rich alert system for timely notifications on FVG-related events.
█ CONCEPTS
This indicator is built upon the core concept of Fair Value Gaps (FVGs) and their significance in price action analysis, offering a multi-layered approach to their detection and interpretation across different timeframes.
Fair Value Gaps (FVGs)
A Fair Value Gap (FVG), also known as an imbalance, represents a range in price delivery where one side of the market (buying or selling) was more aggressive, leaving an inefficiency or an "imbalance" in the price action. This concept is prominently featured within Smart Money Concepts (SMC) and Inner Circle Trader (ICT) methodologies, where such gaps are often interpreted as footprints left by "smart money" due to rapid, forceful price movements. These methodologies suggest that price may later revisit these FVG zones to rebalance a prior inefficiency or to seek liquidity before continuing its path. These gaps are typically identified by a three-bar pattern:
Bullish FVG : This is a three-candle formation where the second candle shows a strong upward move. The FVG is the space created between the high of the first candle (bottom of FVG) and the low of the third candle (top of FVG). This indicates a strong upward impulsive move.
Bearish FVG : This is a three-candle formation where the second candle shows a strong downward move. The FVG is the space created between the low of the first candle (top of FVG) and the high of the third candle (bottom of FVG). This indicates a strong downward impulsive move.
FVGs are often watched by traders as potential areas where price might return to "rebalance" or find support/resistance.
Multi-Timeframe (MTF) Analysis
The indicator extends FVG detection beyond the current chart's timeframe (Low Timeframe - LTF) to two higher user-defined timeframes: Medium Timeframe (MTF) and High Timeframe (HTF). This allows traders to:
Identify FVGs that might be significant on a broader market structure.
Observe how FVGs from different timeframes align or interact.
Gain a more comprehensive perspective on potential support and resistance zones.
FVG State and Lifecycle Management
The indicator actively tracks the lifecycle of each detected FVG:
Formation : The initial identification of an FVG.
Partial Fill (Entry) : When price enters but does not completely pass through the FVG. The indicator updates the "current" top/bottom of the FVG to reflect the filled portion.
Midline (Equilibrium) Touch : When price touches the 50% level of the FVG.
Full Mitigation : When price completely trades through the FVG, effectively "filling" or "rebalancing" the gap. The indicator records the mitigation time.
This state tracking is crucial for understanding how price interacts with these zones.
FVG Classification (Large FVG)
FVGs can be optionally classified as "Large FVGs" (LV) if their size (top to bottom range) exceeds a user-defined multiple of the Average True Range (ATR) for that FVG's timeframe. This helps distinguish FVGs that are significantly larger relative to recent volatility.
Visual Customization and Information Delivery
A key concept is providing extensive control over how FVGs are displayed. This control is achieved through a centralized set of visual parameters within the indicator, allowing users to configure numerous aspects (colors, line styles, visibility of boxes, midlines, mitigation lines, labels, etc.) for each timeframe. Additionally, an on-chart information panel summarizes the nearest unmitigated bullish and bearish FVG levels for each active timeframe, providing a quick glance at key price points.
█ FEATURES
This indicator offers a rich set of features designed to provide a highly customizable and comprehensive Fair Value Gap (FVG) analysis experience. Users can tailor the FVG detection, visual representation, and alerting mechanisms across three distinct timeframes: the current chart (Low Timeframe - LTF), a user-defined Medium Timeframe (MTF), and a user-defined High Timeframe (HTF).
Multi-Timeframe FVG Detection and Display
The core strength of this indicator lies in its ability to identify and display FVGs from not only the current chart's timeframe (LTF) but also from two higher, user-selectable timeframes (MTF and HTF).
Timeframe Selection: Users can specify the exact MTF (e.g., "60", "240") and HTF (e.g., "D", "W") through dedicated inputs in the "MTF (Medium Timeframe)" and "HTF (High Timeframe)" settings groups. The visibility of FVGs from these higher timeframes can be toggled independently using the "Show MTF FVGs" and "Show HTF FVGs" checkboxes.
Consistent Detection Logic: The FVG detection logic, based on the classic three-bar imbalance pattern detailed in the 'Concepts' section, is applied consistently across all selected timeframes (LTF, MTF, HTF)
Timeframe-Specific Visuals: Each timeframe's FVGs (LTF, MTF, HTF) can be customized with unique colors for bullish/bearish states and their mitigated counterparts. This allows for easy visual differentiation of FVGs originating from different market perspectives.
Comprehensive FVG Visualization Options
The indicator provides extensive control over how FVGs are visually represented on the chart for each timeframe (LTF, MTF, HTF).
FVG Boxes:
Visibility: Main FVG boxes can be shown or hidden per timeframe using the "Show FVG Boxes" (for LTF), "Show Boxes" (for MTF/HTF) inputs.
Color Customization: Colors for bullish, bearish, active, and mitigated FVG boxes (including Large FVGs, if classified) are fully customizable for each timeframe.
Box Extension & Length: FVG boxes can either be extended to the right indefinitely ("Extend Boxes Right") or set to a fixed length in bars ("Short Box Length" or "Box Length" equivalent inputs).
Box Labels: Optional labels can display the FVG's timeframe and fill percentage on the box. These labels are configurable for all timeframes (LTF, MTF, and HTF). Please note: If FVGs are positioned very close to each other on the chart, their respective labels may overlap. This can potentially lead to visual clutter, and it is a known behavior in the current version of the indicator.
Box Borders: Visibility, width, style (solid, dashed, dotted), and color of FVG box borders are customizable per timeframe.
Midlines (Equilibrium/EQ):
Visibility: The 50% level (midline or EQ) of FVGs can be shown or hidden for each timeframe.
Style Customization: Width, style, and color of the midline are customizable per timeframe. The indicator tracks if this midline has been touched by price.
Mitigation Lines:
Visibility: Mitigation lines (representing the FVG's opening level that needs to be breached for full mitigation) can be shown or hidden for each timeframe. If shown, these lines are always extended to the right.
Style Customization: Width, style, and color of the mitigation line are customizable per timeframe.
Mitigation Line Labels: Optional price labels can be displayed on mitigation lines, with a customizable horizontal bar offset for positioning. For optimal label placement, the following horizontal bar offsets are recommended: 4 for LTF, 8 for MTF, and 12 for HTF.
Persistence After Mitigation: Users can choose to keep mitigation lines visible even after an FVG is fully mitigated, with a distinct color for such lines. Importantly, this option is only effective if the general setting 'Hide Fully Mitigated FVGs' is disabled, as otherwise, the entire FVG and its lines will be removed upon mitigation.
FVG State Management and Behavior
The indicator tracks and visually responds to changes in FVG states.
Hide Fully Mitigated FVGs: This option, typically found in the indicator's general settings, allows users to automatically remove all visual elements of an FVG from the chart once price has fully mitigated it. This helps maintain chart clarity by focusing on active FVGs.
Partial Fill Visualization: When price enters an FVG, the indicator offers a dynamic visual representation: the portion of the FVG that has been filled is shown as a "mitigated box" (typically with a distinct color), while the original FVG box shrinks to clearly highlight the remaining, unfilled portion. This two-part display provides an immediate visual cue about how much of the FVG's imbalance has been addressed and what potential remains within the gap.
Visual Filtering by ATR Proximity: To help users focus on the most relevant price action, FVGs can be dynamically hidden if they are located further from the current price than a user-defined multiple of the Average True Range (ATR). This behavior is controlled by the "Filter Band Width (ATR Multiple)" input; setting this to zero disables the filter entirely, ensuring all detected FVGs remain visible regardless of their proximity to price.
Alternative Usage Example: Mitigation Lines as Key Support/Resistance Levels
For traders preferring a minimalist chart focused on key Fair Value Gap (FVG) levels, the indicator's visualization settings can be customized to display only FVG mitigation lines. This approach leverages these lines as potential support and resistance zones, reflecting areas where price might revisit to address imbalances.
To configure this view:
Disable FVG Boxes: Turn off "Show FVG Boxes" (for LTF) or "Show Boxes" (for MTF/HTF) for the desired timeframes.
Hide Midlines: Disable the visibility of the 50% FVG Midlines (Equilibrium/EQ).
Ensure Mitigation Lines are Visible: Keep "Mitigation Lines" enabled.
Retain All Mitigation Lines:
Disable the "Hide Fully Mitigated FVGs" option in the general settings.
Enable the feature to "keep mitigation lines visible even after an FVG is fully mitigated". This ensures lines from all FVGs (active or fully mitigated) remain on the chart, which is only effective if "Hide Fully Mitigated FVGs" is disabled.
This setup offers:
A Decluttered Chart: Focuses solely on the FVG opening levels.
Precise S/R Zones: Treats mitigation lines as specific points for potential price reactions.
Historical Level Analysis: Includes lines from past, fully mitigated FVGs for a comprehensive view of significant price levels.
For enhanced usability with this focused view, consider these optional additions:
The on-chart Information Panel can be activated to display a quick summary of the nearest unmitigated FVG levels.
Mitigation Line Labels can also be activated for clear price level identification. A customizable horizontal bar offset is available for positioning these labels; for example, offsets of 4 for LTF, 8 for MTF, and 12 for HTF can be effective.
FVG Classification (Large FVG)
This feature allows for distinguishing FVGs based on their size relative to market volatility.
Enable Classification: Users can enable "Classify FVG (Large FVG)" to identify FVGs that are significantly larger than average.
ATR-Based Threshold: An FVG is classified as "Large" if its height (price range) is greater than or equal to the Average True Range (ATR) of its timeframe multiplied by a user-defined "Large FVG Threshold (ATR Multiple)". The ATR period for this calculation is also configurable.
Dedicated Colors: Large FVGs (both bullish/bearish and active/mitigated) can be assigned unique colors, making them easily distinguishable on the chart.
Panel Icon: Large FVGs are marked with a special icon in the Info Panel.
Information Panel
An on-chart panel provides a quick summary of the nearest unmitigated FVG levels.
Visibility and Position: The panel can be shown/hidden and positioned in any of the nine standard locations on the chart (e.g., Top Right, Middle Center).
Content: It displays the price levels of the nearest unmitigated bullish and bearish FVGs for LTF, MTF (if active), and HTF (if active). It also indicates if these nearest FVGs are Large FVGs (if classification is enabled) using a selectable icon.
Styling: Text size, border color, header background/text colors, default text color, and "N/A" cell background color are customizable.
Highlighting: Background and text colors for the cells displaying the overall nearest bullish and bearish FVG levels (across all active timeframes) can be customized to draw attention to the most proximate FVG.
Comprehensive Alert System
The indicator offers a granular alert system for various FVG-related events, configurable for each timeframe (LTF, MTF, HTF) independently. Users can enable alerts for:
New FVG Formation: Separate alerts for new bullish and new bearish FVG formations.
FVG Entry/Partial Fill: Separate alerts for price entering a bullish FVG or a bearish FVG.
FVG Full Mitigation: Separate alerts for full mitigation of bullish and bearish FVGs.
FVG Midline (EQ) Touch: Separate alerts for price touching the midline of a bullish or bearish FVG.
Alert messages are detailed, providing information such as the timeframe, FVG type (bull/bear, Large FVG), relevant price levels, and timestamps.
█ NOTES
This section provides additional information regarding the indicator's usage, performance considerations, and potential interactions with the TradingView platform. Understanding these points can help users optimize their experience and troubleshoot effectively.
Performance and Resource Management
Maximum FVGs to Track : The "Max FVGs to Track" input (defaulting to 25) limits the number of FVG objects processed for each category (e.g., LTF Bullish, MTF Bearish). Increasing this value significantly can impact performance due to more objects being iterated over and potentially drawn, especially when multiple timeframes are active.
Drawing Object Limits : To manage performance, this script sets its own internal limits on the number of drawing objects it displays. While it allows for up to approximately 500 lines (max_lines_count=500) and 500 labels (max_labels_count=500), the number of FVG boxes is deliberately restricted to a maximum of 150 (max_boxes_count=150). This specific limit for boxes is a key performance consideration: displaying too many boxes can significantly slow down the indicator, and a very high number is often not essential for analysis. Enabling all visual elements for many FVGs across all three timeframes can cause the indicator to reach these internal limits, especially the stricter box limit
Optimization Strategies : To help you manage performance, reduce visual clutter, and avoid exceeding drawing limits when using this indicator, I recommend the following strategies:
Maintain or Lower FVG Tracking Count: The "Max FVGs to Track" input defaults to 25. I find this value generally sufficient for effective analysis and balanced performance. You can keep this default or consider reducing it further if you experience performance issues or prefer a less dense FVG display.
Utilize Proximity Filtering: I suggest activating the "Filter Band Width (ATR Multiple)" option (found under "General Settings") to display only those FVGs closer to the current price. From my experience, a value of 5 for the ATR multiple often provides a good starting point for balanced performance, but you should feel free to adjust this based on market volatility and your specific trading needs.
Hide Fully Mitigated FVGs: I strongly recommend enabling the "Hide Fully Mitigated FVGs" option. This setting automatically removes all visual elements of an FVG from the chart once it has been fully mitigated by price. Doing so significantly reduces the number of active drawing objects, lessens computational load, and helps maintain chart clarity by focusing only on active, relevant FVGs.
Disable FVG Display for Unused Timeframes: If you are not actively monitoring certain higher timeframes (MTF or HTF) for FVG analysis, I advise disabling their display by unchecking "Show MTF FVGs" or "Show HTF FVGs" respectively. This can provide a significant performance boost.
Simplify Visual Elements: For active FVGs, consider hiding less critical visual elements if they are not essential for your specific analysis. This could include box labels, borders, or even entire FVG boxes if, for example, only the mitigation lines are of interest for a particular timeframe.
Settings Changes and Platform Limits : This indicator is comprehensive and involves numerous calculations and drawings. When multiple settings are changed rapidly in quick succession, it is possible, on occasion, for TradingView to issue a "Runtime error: modify_study_limit_exceeding" or similar. This can cause the indicator to temporarily stop updating or display errors.
Recommended Approach : When adjusting settings, it is advisable to wait a brief moment (a few seconds) after each significant change. This allows the indicator to reprocess and update on the chart before another change is made
Error Recovery : Should such a runtime error occur, making a minor, different adjustment in the settings (e.g., toggling a checkbox off and then on again) and waiting briefly will typically allow the indicator to recover and resume correct operation. This behavior is related to platform limitations when handling complex scripts with many inputs and drawing objects.
Multi-Timeframe (MTF/HTF) Data and Behavior
HTF FVG Confirmation is Essential: : For an FVG from a higher timeframe (MTF or HTF) to be identified and displayed on your current chart (LTF), the three-bar pattern forming the FVG on that higher timeframe must consist of fully closed bars. The indicator does not draw speculative FVGs based on incomplete/forming bars from higher timeframes.
Data Retrieval and LTF Processing: The indicator may use techniques like lookahead = barmerge.lookahead_on for timely data retrieval from higher timeframes. However, the actual detection of an FVG occurs after all its constituent bars on the HTF have closed.
Appearance Timing on LTF (1 LTF Candle Delay): As a natural consequence of this, an FVG that is confirmed on an HTF (i.e., its third bar closes) will typically become visible on your LTF chart one LTF bar after its confirmation on the HTF.
Example: Assume an FVG forms on a 30-minute chart at 15:30 (i.e., with the close of the 30-minute bar that covers the 15:00-15:30 period). If you are monitoring this FVG on a 15-minute chart, the indicator will detect this newly formed 30-minute FVG while processing the data for the 15-minute bar that starts at 15:30 and closes at 15:45. Therefore, the 30-minute FVG will become visible on your 15-minute chart at the earliest by 15:45 (i.e., with the close of that relevant 15-minute LTF candle). This means the HTF FVG is reflected on the LTF chart with a delay equivalent to one LTF candle.
FVG Detection and Display Logic
Fair Value Gaps (FVGs) on the current chart timeframe (LTF) are detected based on barstate.isconfirmed. This means the three-bar pattern must be complete with closed bars before an FVG is identified. This confirmation method prevents FVGs from being prematurely identified on the forming bar.
Alerts
Alert Setup : To receive alerts from this indicator, you must first ensure you have enabled the specific alert conditions you are interested in within the indicator's own settings (see 'Comprehensive Alert System' under the 'FEATURES' section). Once configured, open TradingView's 'Create Alert' dialog. In the 'Condition' tab, select this indicator's name, and crucially, choose the 'Any alert() function call' option from the dropdown list. This setup allows the indicator to trigger alerts based on the precise event conditions you have activated in its settings
Alert Frequency : Alerts are designed to trigger once per bar close (alert.freq_once_per_bar_close) for the specific event.
User Interface (UI) Tips
Settings Group Icons: In the indicator settings menu, timeframe-specific groups are marked with star icons for easier navigation: 🌟 for LTF (Current Chart Timeframe), 🌟🌟 for MTF (Medium Timeframe), and 🌟🌟🌟 for HTF (High Timeframe).
Dependent Inputs: Some input settings are dependent on others being enabled. These dependencies are visually indicated in the settings menu using symbols like "↳" (dependent setting on the next line), "⟷" (mutually exclusive inline options), or "➜" (directly dependent inline option).
Settings Layout Overview: The indicator settings are organized into logical groups for ease of use. Key global display controls – such as toggles for MTF FVGs, HTF FVGs (along with their respective timeframe selectors), and the Information Panel – are conveniently located at the very top within the '⚙️ General Settings' group. This placement allows for quick access to frequently adjusted settings. Other sections provide detailed customization options for each timeframe (LTF, MTF, HTF), specific FVG components, and alert configurations.
█ FOR Pine Script® CODERS
This section provides a high-level overview of the FVG Premium indicator's internal architecture, data flow, and the interaction between its various library components. It is intended for Pine Script™ programmers who wish to understand the indicator's design, potentially extend its functionality, or learn from its structure.
System Architecture and Modular Design
The indicator is architected moduarly, leveraging several custom libraries to separate concerns and enhance code organization and reusability. Each library has a distinct responsibility:
FvgTypes: Serves as the foundational data definition layer. It defines core User-Defined Types (UDTs) like fvgObject (for storing all attributes of an FVG) and drawSettings (for visual configurations), along with enumerations like tfType.
CommonUtils: Provides utility functions for common tasks like mapping user string inputs (e.g., "Dashed" for line style) to their corresponding Pine Script™ constants (e.g., line.style_dashed) and formatting timeframe strings for display.
FvgCalculations: Contains the core logic for FVG detection (both LTF and MTF/HTF via requestMultiTFBarData), FVG classification (Large FVGs based on ATR), and checking FVG interactions with price (mitigation, partial fill).
FvgObject: Implements an object-oriented approach by attaching methods to the fvgObject UDT. These methods manage the entire visual lifecycle of an FVG on the chart, including drawing, updating based on state changes (e.g., mitigation), and deleting drawing objects. It's responsible for applying the visual configurations defined in drawSettings.
FvgPanel: Manages the creation and dynamic updates of the on-chart information panel, which displays key FVG levels.
The main indicator script acts as the orchestrator, initializing these libraries, managing user inputs, processing data flow between libraries, and handling the main event loop (bar updates) for FVG state management and alerts.
Core Data Flow and FVG Lifecycle Management
The general data flow and FVG lifecycle can be summarized as follows:
Input Processing: User inputs from the "Settings" dialog are read by the main indicator script. Visual style inputs (colors, line styles, etc.) are consolidated into a types.drawSettings object (defined in FvgTypes). Other inputs (timeframes, filter settings, alert toggles) control the behavior of different modules. CommonUtils assists in mapping some string inputs to Pine constants.
FVG Detection:
For the current chart timeframe (LTF), FvgCalculations.detectFvg() identifies potential FVGs based on bar patterns.
For MTF/HTF, the main indicator script calls FvgCalculations.requestMultiTFBarData() to fetch necessary bar data from higher timeframes, then FvgCalculations.detectMultiTFFvg() identifies FVGs.
Newly detected FVGs are instantiated as types.fvgObject and stored in arrays within the main script. These objects also undergo classification (e.g., Large FVG) by FvgCalculations.
State Update & Interaction: On each bar, the main indicator script iterates through active FVG objects to manage their state based on price interaction:
Initially, the main script calls FvgCalculations.fvgInteractionCheck() to efficiently determine if the current bar's price might be interacting with a given FVG.
If a potential interaction is flagged, the main script then invokes methods directly on the fvgObject instance (e.g., updateMitigation(), updatePartialFill(), checkMidlineTouch(), which are part of FvgObject).
These fvgObject methods are responsible for the detailed condition checking and the actual modification of the FVG's state. For instance, the updateMitigation() and updatePartialFill() methods internally utilize specific helper functions from FvgCalculations (like checkMitigation() and checkPartialMitigation()) to confirm the precise nature of the interaction before updating the fvgObject’s state fields (such as isMitigated, currentTop, currentBottom, or isMidlineTouched).
Visual Rendering:
The FvgObject.updateDrawings() method is called for each fvgObject. This method is central to drawing management; it creates, updates, or deletes chart drawings (boxes, lines, labels) based on the FVG's current state, its prev_* (previous bar state) fields for optimization, and the visual settings passed via the drawSettings object.
Information Panel Update: The main indicator script determines the nearest FVG levels, populates a panelData object (defined in FvgPanelLib), and calls FvgPanel.updatePanel() to refresh the on-chart display.
Alert Generation: Based on the updated FVG states and user-enabled alert settings, the main indicator script constructs and triggers alerts using Pine Script's alert() function."
Key Design Considerations
UDT-Centric Design: The fvgObject UDT is pivotal, acting as a stateful container for all information related to a single FVG. Most operations revolve around creating, updating, or querying these objects.
State Management: To optimize drawing updates and manage FVG lifecycles, fvgObject instances store their previous bar's state (e.g., prevIsVisible, prevCurrentTop). The FvgObject.updateDrawings() method uses this to determine if a redraw is necessary, minimizing redundant drawing calls.
Settings Object: A drawSettings object is populated once (or when inputs change) and passed to drawing functions. This avoids repeatedly reading numerous input() values on every bar or within loops, improving performance.
Dynamic Arrays for FVG Storage: Arrays are used to store collections of fvgObject instances, allowing for dynamic management (adding new FVGs, iterating for updates).
Fund Master Plus (TV Rev1, Dec2024)License: Mozilla Public License 2.0 (Open Source)
Version: Pine Script™ v6
Indicator Name: Fund Master Plus (TV Rev1, Dec2024)
Short Title: Fund Master Plus
About Fund Master Plus
Fund Master Plus indicator is an oscillating technical analysis tool designed to simulate the fund inflow and outflow trend.
Key features:
1. Fund Master Value and Candle
The candle highlights the direction of the Fund Master value.
Green candles represent an upward trend, while red candles indicate a downward trend.
When the candle crossover 0, it is a sign of the start of mid term bull, vice versa.
When the candle is above 0, it is a sign of mid-term bull, vice versa.
2. Fund Master Bar
This bar provides added visual representation of the Fund Master value.
Green bars represent and upward trend, while red bars indicate a downward trend.
3. FM EMA (Exponential Moving Average)
The Fund Master EMA (Exponential Moving Average) helps smooth out FM value fluctuations
and identify the overall trend.
When the candle crossover FM EMA, it is a sign of the start of short term bull, vice vera.
When the candle is above FM EMA, it is a sign of short term bull, vice versa.
4. EMA of FM EMA
This is an EMA of the Fund Master EMA, which can provide additional insights into the
trend's strength.
5. Candle Turn Green or Red
This feature generates alerts to signal potential trend changes.
6. Bottom Deviation & Top Deviation
Line plot and label of these deviation will show on indicator and the price chart to help user
identify potential buying and selling opportunities.
7. Alertcondition for Turn Green or Turn Red
User can set the alert using the Create Alert (the Clock Icon).
8. Table Summary
A table summary is provided to show indicator name, FM value, FM candle status,
Crossover, Crossunder, Turn Green, Turn Red status, Bar Number etc.
A tooltip for Filter Setting and a filter status check.
SOP to use the indicator:
Table (GR1):
Show Table: This option enables or disables the display of the table.
Text Size: This option allows you to set the text size for the table entries.
Width: This option sets the width of the table.
Fund Master Candle Color Setting (GR2):
FM candle will up by default.
This option enables the color setting of Fund Master candle.
Up: This option sets the color of the Fund Master candle for uptrend.
Down: This option sets the color of the Fund Master candle for downtrend.
Fund Master Bar and Color Setting (GR3):
Show Fund Master Bar: This option enables or disables the display of the Fund Master bar.
Up: This option sets the color of the Fund Master bar for uptrend.
Down: This option sets the color of the Fund Master bar for downtrend.
Fund Master EMA plots (GR4):
Show FM EMA: This option enables or disables the display of the Fund Master EMA line.
Look Back Period: This option sets the lookback period for the Fund Master EMA calculation.
EMA Color: This option sets the color of the Fund Master EMA line.
Show EMA of FM EMA: This option enables or disables the display of the EMA of the Fund Master EMA line.
Look Back Period 2: This option sets the lookback period for the EMA of the Fund Master EMA calculation.
Alerts: Fund Master Crossover & Crossunder EMA Line or 0 (GR5):
Show FM Crossover 0: This option enables or disables the display of the alert for FM crossover above the 0 line.
Show FM Crossunder 0: This option enables or disables the display of the alert for FM crossover below the 0 line.
Show FM Crossover EMA: This option enables or disables the display of the alert for FM crossover above the EMA line.
Show FM Crossunder EMA: This option enables or disables the display of the alert for FM crossover below the EMA line.
Bottom and Top Deviation (GR6):
Show Bottom Deviation: This option enables or disables the display of the bottom deviation line.
Show Top Deviation: This option enables or disables the display of the top deviation line.
Turn Green, Turn Red Alert (GR7):
Show Turn Green/Red Alerts: This option enables or disables the display of alerts for when the Fund Master value changes direction.
Current & Turn Green/Red Alerts: This option sets the number of bars to look back for the turn green/red alerts.
Band and User Input Setting (GR8):
100: This option enables or disables the display of the 100 band.
0: This option enables or disables the display of the 0 band.
-100: This option enables or disables the display of the -100 band.
User Input: This option enables or disables the display of a custom band based on user input.
Value: This option sets the value for the custom band.
Disclaimer
Attached chart is for the purpose of illustrating the use of indicator, no recommendation of buy/sell.
In this chart, all features in the setting are turned on (default and non default).
This chart is used to demonstrate the FM trend movement from mid-term bear to mid-term bull,
short-term bear and bull, bottom deviation and top deviation.
Hope this help. Merry Christmas and Happy New Year.
HMA Smoothed RSI [Pinescriptlabs]This indicator uses a modified version of the RSI (Relative Strength Index) weighted by volume. This means it not only takes into account the price but also the amount of volume supporting those price movements, making the indicator more sensitive to real market fluctuations.
Hull Moving Average (HMA) Applied to RSI: To smooth the volume-weighted RSI, a Hull Moving Average (HMA) is applied. The HMA is known for its ability to reduce market "noise" and quickly react to trend changes. This process helps better identify when an asset is overbought or oversold.
Overbought and Oversold Regions: The indicator sets clear overbought and oversold levels, which are adjustable. By default, the overbought level is set at 20 and the oversold level at -20, but you can customize these values. Additionally, there are extreme overbought and oversold levels to help identify more extreme market conditions where a price reversal is more likely.
Buy and Sell Signals:
Buy Signal: This is generated when the modified RSI crosses above the oversold level. This indicates that the price has dropped enough and may be about to rise.
Sell Signal: This occurs when the RSI crosses below the overbought level. This suggests that the price has risen too much and could be about to fall.
Dynamic Visualization and Colors: The indicator is displayed with different colors based on its behavior:
When the RSI is within normal levels, the color is neutral.
If it is above the overbought level, the color turns red (sell alert).
If it is below the oversold level, the color turns green (buy alert).
Alerts: This indicator also allows you to set up alerts. You will receive automatic notifications when buy or sell signals are generated, helping you make decisions without constantly monitoring the chart.
Español:
Este indicador utiliza una versión modificada del RSI (Índice de Fuerza Relativa), ponderado por volumen. Esto significa que no solo tiene en cuenta el precio, sino también la cantidad de volumen que respalda esos movimientos de precios, haciendo que el indicador sea más sensible a las fluctuaciones reales del mercado.
Media Móvil Hull (HMA) aplicada al RSI: Para suavizar el RSI ponderado por volumen, se le aplica una Media Móvil Hull (HMA). La HMA es conocida por su capacidad para reducir el "ruido" del mercado y reaccionar rápidamente a los cambios de tendencia. Este proceso ayuda a identificar mejor cuándo un activo está sobrecomprado o sobrevendido.
Regiones de sobrecompra y sobreventa: El indicador establece niveles claros de sobrecompra y sobreventa que son ajustables. Por defecto, el nivel de sobrecompra está en 20 y el de sobreventa en -20, pero puedes personalizar estos valores. Además, hay niveles extremos de sobrecompra y sobreventa que te ayudan a identificar condiciones más extremas del mercado, donde una reversión de precio es más probable.
Señales de compra y venta:
Señal de compra: Se genera cuando el RSI modificado cruza hacia arriba el nivel de sobreventa. Esto indica que el precio ha bajado lo suficiente y puede estar a punto de subir.
Señal de venta: Se produce cuando el RSI cruza hacia abajo el nivel de sobrecompra. Esto indica que el precio ha subido demasiado y podría estar a punto de bajar.
Visualización y colores dinámicos: El indicador se muestra con diferentes colores según su comportamiento:
Cuando el RSI está dentro de los niveles normales, el color es neutro.
Si está por encima del nivel de sobrecompra, el color se vuelve rojo (señal de alerta de venta).
Si está por debajo del nivel de sobreventa, el color se vuelve verde (señal de alerta de compra).
Alertas: Este indicador también te permite configurar alertas. Así, recibirás notificaciones automáticas cuando se generen señales de compra o venta, ayudándote a tomar decisiones sin estar constantemente monitoreando el gráfico.
How to automate this strategy for free using a chrome extension.Hey everyone,
Recently we developed a chrome extension for automating TradingView strategies using the alerts they provide. Initially we were charging a monthly fee for the extension, but we have now decided to make it FREE for everyone. So to display the power of automating strategies via TradingView, we figured we would also provide a profitable strategy along with the custom alert script and commands for the alerts so you can easily cut and paste to begin trading for profit while you sleep.
Step 1:
You are going to need to download the Chrome Extension called AutoView. You can get the extension for free by following this link: bit.ly ( I had to shorten the link as it contains Google and TV automatically converts it to a symbol)
Step 2: Go to your chrome extension page, and under the new extension you'll see a "settings" button. In the setting you will have to connect and give permission to the exchange 1broker allowing the extension to place your orders automatically when triggered by an alert.
Step 3: Setup the strategy and custom script for the alerts in TradingView. The attached script is the strategy, you can play with the settings yourself to try and get better numbers/performance if you please.
This following script is for the custom alerts:
//@version=2
study("4All-Alert", shorttitle="Alerts")
src = close
len = input(4, minval=1, title="Length")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
rsin = input(5)
sn = 100 - rsin
ln = 0 + rsin
short = crossover(rsi, sn) ? 1 : 0
long = crossunder(rsi, ln) ? 1 : 0
plot(long, "Long", color=green)
plot(short, "Short", color=red)
Now that you have the extension installed, the custom strategy and alert scripts in place, you simply need to create the alerts.
To get the alerts to communicate with the extension properly, there is a specific syntax that you will need to put in the message of the alert. You can find more details about the syntax here : gist.github.com
For this specific strategy, I use the Alerts script, long/short greater than 0.9 on close.
In the message for a long place this as your message:
Long
c=order b=short
c=position b=short l=200 t=market
b=long q=0.01 l=200 t=market tp=13 sl=25
and for the short...
Short
c=order b=long
c=position b=long l=200 t=market
b=short q=0.01 l=200 t=market tp=13 sl=25
If you'll notice in my above messages, compared to the strategy my tp and sl (take profit and stop loss) vary by a few pips. This is to cover the market opens and spread on 1broker. You can change the tp and sl in the strategy to the above and see that the overall profit will not vary much at all.
I hope this all makes sense and it is enough to not only make some people money, but to show the power of coming up with your own strategy and automating it using TradingView alerts and the free Chrome Extension AutoView.
ps. I highly recommend upgrading your TradingView account so you have access to back testing and multiple alerts.
There is really no reason you won't cover the cost and then some on a monthly basis using the tools provided.
Best of luck and happy trading.
Note: The extension currently allows for automation on 2 exchanges; 1broker and Okcoin. If you do not have accounts there, we'd appreciate you signing up using our referral links.
www.okcoin.com
1broker.com
Dynamic Intensity Transition Oscillator (DITO)The Dynamic Intensity Transition Oscillator (DITO) is a comprehensive indicator designed to identify and visualize the slope of price action normalized by volatility, enabling consistent comparisons across different assets. This indicator calculates and categorizes the intensity of price movement into six states—three positive and three negative—while providing visual cues and alerts for state transitions.
Components and Functionality
1. Slope Calculation
- The slope represents the rate of change in price action over a specified period (Slope Calculation Period).
- It is calculated as the difference between the current price and the simple moving average (SMA) of the price, divided by the length of the period.
2. Normalization Using ATR
- To standardize the slope across assets with different price scales and volatilities, the slope is divided by the Average True Range (ATR).
- The ATR ensures that the slope is comparable across assets with varying price levels and volatility.
3. Intensity Levels
- The normalized slope is categorized into six distinct intensity levels:
High Positive: Strong upward momentum.
Medium Positive: Moderate upward momentum.
Low Positive: Weak upward movement or consolidation.
Low Negative: Weak downward movement or consolidation.
Medium Negative: Moderate downward momentum.
High Negative: Strong downward momentum.
4. Visual Representation
- The oscillator is displayed as a histogram, with each intensity level represented by a unique color:
High Positive: Lime green.
Medium Positive: Aqua.
Low Positive: Blue.
Low Negative: Yellow.
Medium Negative: Purple.
High Negative: Fuchsia.
Threshold levels (Low Intensity, Medium Intensity) are plotted as horizontal dotted lines for visual reference, with separate colors for positive and negative thresholds.
5. Intensity Table
- A dynamic table is displayed on the chart to show the current intensity level.
- The table's text color matches the intensity level color for easy interpretation, and its size and position are customizable.
6. Alerts for State Transitions
- The indicator includes a robust alerting system that triggers when the intensity level transitions from one state to another (e.g., from "Medium Positive" to "High Positive").
- The alert includes both the previous and current states for clarity.
Inputs and Customization
The DITO indicator offers a variety of customizable settings:
Indicator Parameters
Slope Calculation Period: Defines the period over which the slope is calculated.
ATR Calculation Period: Defines the period for the ATR used in normalization.
Low Intensity Threshold: Threshold for categorizing weak momentum.
Medium Intensity Threshold: Threshold for categorizing moderate momentum.
Intensity Table Settings
Table Position: Allows you to position the intensity table anywhere on the chart (e.g., "Bottom Right," "Top Left").
Table Size: Enables customization of table text size (e.g., "Small," "Large").
Use Cases
Trend Identification:
- Quickly assess the strength and direction of price movement with color-coded intensity levels.
Cross-Asset Comparisons:
- Use the normalized slope to compare momentum across different assets, regardless of price scale or volatility.
Dynamic Alerts:
- Receive timely alerts when the intensity transitions, helping you act on significant momentum changes.
Consolidation Detection:
- Identify periods of low intensity, signaling potential reversals or breakout opportunities.
How to Use
- Add the indicator to your chart.
- Configure the input parameters to align with your trading strategy.
Observe:
The Oscillator: Use the color-coded histogram to monitor price action intensity.
The Intensity Table: Track the current intensity level dynamically.
Alerts: Respond to state transitions as notified by the alerts.
Final Notes
The Dynamic Intensity Transition Oscillator (DITO) combines trend strength detection, cross-asset comparability, and real-time alerts to offer traders an insightful tool for analyzing market conditions. Its user-friendly visualization and comprehensive alerting make it suitable for both novice and advanced traders.
Disclaimer: This indicator is for educational purposes and is not financial advice. Always perform your own analysis before making trading decisions.
Larry Williams Valuation Index [tradeviZion]Larry Williams Valuation Index
Welcome to the Larry Williams Valuation Index by tradeviZion! This script is an interpretation of Larry Williams' famous WillVal (Valuation) Index, originally developed in 1990 to help traders determine whether a market or asset is overvalued or undervalued. We've extended it to support multiple securities and offer alerts for different valuation levels, helping you make more informed trading decisions.
What is the Valuation Index?
The Valuation Index measures how a security's current price compares to its historical price action. It helps identify whether the security is overvalued (priced too high), undervalued (priced too low), or in a normal range.
This version supports multiple securities and uses valuation parameters to help you assess the relative valuation of three securities simultaneously. It can help you determine the best times to enter (buy) or exit (sell) the market.
Key Features
Multi-Security Analysis: Analyze up to three securities simultaneously to get a broader view of market conditions.
Valuation Levels: Automatically calculate overvaluation and undervaluation levels or set manual levels for consistent analysis.
Custom Alerts: Create custom alerts when securities move between overvalued, undervalued, or normal ranges.
Customizable Table Display: Display a table with valuation values and their status on the chart.
Getting Started
Step 1: Adding the Script to Your Chart
First, add the Larry Williams Valuation Index script to your chart on TradingView. The script is designed to work with any timeframe, but for best results, use weekly or daily timeframes for a longer-term perspective.
Step 2: Configuring Securities
The script allows you to analyze up to three different securities :
Security 1 (Default: DXY)
Security 2 (Default: GC1!)
Security 3 (Default: ZB1!)
You can enable or disable each security individually.
Custom Timeframe Option: You have the option to select a custom timeframe for analysis. This allows you to see whether the security is overvalued or undervalued in lower or higher timeframes. Note that this feature is experimental and has not been extensively tested. Larry Williams originally used the weekly timeframe to determine if a stock was overvalued or undervalued. By default, the indicator compares the current price with the security based on the selected timeframe, except if you choose to use a custom timeframe.
Pro Tip : New users can start with the default securities to understand the concept before using other assets.
Step 3: Valuation Index Settings
Short EMA Length : This is the short-term average used for calculations. A lower value makes it more responsive to recent price changes.
Long EMA Length : This is the long-term average, used to smooth the valuation over time.
Valuation Length (Default: 156) : Represents approximately three years of daily bars (as recommended by Larry Williams).
How is the Valuation Index Calculated?
The valuation calculation is done using a method called WVI (WillVal Index), which compares the current price of a security to the price of another correlated security. Here’s a step-by-step explanation:
1. Data Collection: The script takes the closing price of the security you are analyzing and the closing price of the correlated security.
2. Ratio Calculation : The ratio of the two prices is calculated:
Price Ratio = (Price of your security) / (Price of correlated security) * 100.
This ratio helps determine how expensive or cheap your security is compared to the correlated one.
3. Exponential Moving Averages (EMAs) : The price ratio is used to calculate short-term and long-term EMAs (Exponential Moving Averages). EMAs are used to create smooth lines that represent the average price of a security over a specific period of time, with more weight given to recent data. By calculating both short-term and long-term EMAs, we can identify the trend direction and how the security is performing compared to its historical averages.
4. Valuation Index Calculation:
The Valuation Index is calculated as the difference between the short-term EMA and the long-term EMA. This difference helps to determine if the security is currently overvalued or undervalued:
A positive value indicates that the price is above its longer-term trend, suggesting potential overvaluation.
A negative value indicates that the price is below its longer-term trend, suggesting potential undervaluation.
5. Normalization:
To make the valuation easier to interpret, the calculated valuation index is then normalized using the highest and lowest values over the selected valuation length (e.g., 156 bars).
This normalization process converts the index into a percentage between 0 and 100, where higher values indicate overvaluation and lower values indicate undervaluation.
Step 4: Understanding Valuation Levels
The valuation levels indicate whether a security is currently undervalued, overvalued, or in a normal range.
Manual Levels : You can manually set the overvaluation and undervaluation thresholds (default is 85 for overvalued and 15 for undervalued).
Auto Levels : The script can automatically calculate these levels based on recent price action, allowing you to adapt to changing market conditions.
Auto Levels Calculation Explained:
The Auto Levels are calculated by taking the average of the valuation indices for all three securities (e.g., index1, index2, and index3).
The script then looks at the highest and lowest values of this average over a selected number of recent bars (e.g., 50 bars).
The overvaluation level is determined by taking the highest value and multiplying it by a multiplier (e.g., 5). Similarly, the undervaluation level is calculated using the lowest value and the multiplier.
These dynamic levels adjust according to recent price action, providing an adaptive approach to identifying overvalued and undervalued conditions.
Step 5: How to Use the Script to Make Trading Decisions
For new users, here's a step-by-step trading strategy you can use with the Valuation Index:
1. Identify Undervalued Opportunities
When two or more securities are in the undervalued range (below 15 for manual or below automatically calculated undervalue levels), wait for at least two of these securities to turn from undervalued to normal .
This transition indicates a potential buy opportunity .
2. Buying Signal
When at least two securities transition from undervalued to normal, you can consider buying the asset.
This indicates that the market may be recovering from undervalued conditions and could be moving into a growth phase.
3. Selling Signal
Exit when the price high closes below the EMA 21 (21-day exponential moving average).
Alternatively, if the valuation index reaches overvalued levels (above 85 manually or auto-calculated), wait for it to drop back to normal . This can be another point to exit the trade .
You can also use any other sell condition based on your r isk management strategy .
Alerts for Valuation Levels
The script includes alerts to notify you of changing market conditions:
To activate these alerts, follow these steps, referring to the provided screenshot with detailed steps:
1. Enable Alerts : Click on the settings gear icon on the script title in your chart. In the settings menu, scroll to the section labeled Alerts Settings .
Enable Alerts by checking the Enable Alerts box.
Set the Required Securities for Alert (default is 2 securities).
Choose the Alert Frequency : Selecting Once Per Bar Close will trigger alerts only at the close of each bar, ensuring you receive confirmed signals rather than potentially noisy intermediate signals.
2. Select Alert Type : Choose the type of alert you want to activate, such as Alert on Overvalued, Alert on Undervalued, Alert on Over to Normal , or Alert on Under to Normal .
3. Save Settings : Click OK to save your alert settings.
4. Add Alert on Indicator : Click the "..." (More button) next to the indicator name on the chart and select " Add alert on tradeviZion - WillVal ".
5. Create Alert : In the Create Alert window:
Set Condition to tradeviZion - WillVal .
Ensure Any alert() function call is selected.
Set the Alert Name and select your Expiration preferences.
6. Set Notification Preferences : Go to the Notifications tab and select how you want to receive notifications, such as via app notification, toast notification, email , or sound alert . Adjust these preferences to best suit your needs.
7. Click Create : Finally, click Create to activate the alert.
These alerts will help you stay informed about key market conditions and take action accordingly, ensuring you do not miss critical trading opportunities.
Understanding the Table Display
The script includes an interactive table on the chart to show the valuation status of each security:
Security : The name of the security being analyzed.
Value : The current valuation index value.
Status : Indicates whether the security is overvalued, undervalued , or in a normal range.
Color: Displays a color code for easy identification of status:
Red for overvalued.
Green for undervalued.
Other colors represent normal valuation levels.
Empowering Messages : Motivational messages are displayed to encourage disciplined trading. These messages will change periodically, helping keep a positive trading mindset.
Acknowledgment
This tool builds upon the foundational work of Larry Williams, who developed the WillVal (Valuation) Index concept. It also incorporates enhancements to extend multi-security analysis, valuation normalization, and advanced alerting features, providing a more versatile and powerful indicator. The Larry Williams Valuation Index [ tradeviZion ] helps traders make informed decisions by assessing overvalued and undervalued conditions for multiple securities simultaneously.
Note : Always practice proper risk management and thoroughly test the indicator to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
LDO Support and Resistance with Trend LinesUnderstanding the Indicator on Your Chart
Support Lines (Green): These horizontal lines represent price levels where LDO is likely to find buying interest, preventing further declines. They turn a semi-transparent green when the price is above them and blue when below.
Resistance Lines (Blue): These horizontal lines indicate price levels where selling pressure may halt upward movements. They turn a semi-transparent blue when the price is below them and green when above.
Trend Lines (Blue for Resistance, Green for Support): Diagonal lines show the overall trend direction. Blue trend lines indicate resistance (price may struggle to rise above), and green trend lines indicate support (price may find a floor).
Pivots: Small triangles appear above or below candles to mark pivot highs (resistance) and pivot lows (support), helping you identify key turning points.
Customizing the Indicator
You can tweak the indicator’s behavior through the settings panel. Here’s what each input does:
Show Trend Lines? (Default: True)
Enables or disables the display of trend lines on the chart. Set to false to hide trend lines if you only want support/resistance levels.
Choose Higher Time Frame
Select a higher timeframe (e.g., 1H, 4H, 1D) to display support and resistance levels from that timeframe on your current chart (e.g., 5M or 15M).
Pivot Length Settings (Current and Higher Timeframe):
Pivot Length Left Hand Side (Current/HTF): Adjusts how many bars to the left the indicator looks to identify pivot lows (default: 15 for current, 20 for HTF).
Pivot Length Right Hand Side (Current/HTF): Adjusts how many bars to the right the indicator looks to identify pivot highs (default: 10 for current, 15 for HTF).
Increase these values for fewer, more significant pivots; decrease for more frequent pivots.
Pivot Sources (Trend 1 and Trend 2 Pivots):
Select the price source (e.g., low, high) for calculating pivot lows and highs. Default is low for pivot lows and high for pivot highs.
Line Width Settings:
Lower Time Frame Line Width (Default: 5): Sets the thickness of support/resistance lines on the current timeframe.
Higher Time Frame Line Width (Default: 18): Sets the thickness of support/resistance lines on the higher timeframe.
Show Support & Resistance? (Default: True)
Enables or disables the display of horizontal support and resistance lines. Set to false to hide them if you only want trend lines.
Alert Settings (Under “Alerts” Group):
Enable Trend Line Alerts? (Default: True): Turns alerts on or off for trend line hits.
Alert on Resistance Trend Lines? (Default: True): Enables alerts when the price hits resistance trend lines.
Alert on Support Trend Lines? (Default: True): Enables alerts when the price hits support trend lines.
Alert Message: Customize the alert message format (default: “Price hit trend line at {0}”, where {0} is replaced by the price).
Setting Up Alerts
Enable Alerts in the Indicator:
In the indicator settings, ensure “Enable Trend Line Alerts?” is set to true, and choose whether to alert on resistance or support trend lines.
Create a TradingView Alert:
Click the “Alerts” button (bell icon) at the top of the chart.
Select “Create Alert” and choose this indicator from the “Condition” dropdown.
Set the alert frequency (e.g., once per bar, only once), notification method (e.g., email, popup), and save the alert.
Test the Alerts:
Multi-Timeframe Recursive Zigzag [Trendoscope®]🎲 Welcome to the Advanced World of Zigzag Analysis
Embark on a journey through the most comprehensive and feature-rich Zigzag implementation you’ll ever encounter. Our Multi-Timeframe Recursive Zigzag Indicator is not just another tool; it's a groundbreaking advancement in technical analysis.
🎯 Key Features
Multi Time-Frame Support - One of the rare open-source Zigzag indicators with robust multi-timeframe capabilities, this feature sets our tool apart, enabling a broader and more dynamic market analysis.
Innovative Recursive Zigzag Algorithm - At its core is our unique Recursive Zigzag Algorithm, a pioneering development that powers multiple Zigzag levels, offering an intricate view of market movements. This proprietary algorithm is the backbone of our advanced pattern recognition indicators.
Sub-Waves and Micro-Waves Analysis - Dive deeper into market trends with our Sub-Waves and Micro-Waves feature. Sub-Waves reveal the interconnectedness of various Zigzag levels, while Micro-Waves offer insight into the fundamental waves at the base level.
Enhanced Indicator Tracking - Integrate and track your custom indicators or oscillators with the zigzag, capturing their values at each Zigzag level, complete with retracement ratios. This offers a comprehensive view of market dynamics.
Curved Zigzag Visualization - Experience a new way of visualizing market movements with our Curved Zigzag Display, employing Pine Script’s polyline feature for a more intuitive and visually appealing representation.
Built-in Customizable Alerts - Stay ahead with built-in alerts that can be customized via user input settings.
🎯 Practical Applications
Our Zigzag Indicator is designed with an understanding of its inherent nature - the last unconfirmed pivot that consistently repaints. This characteristic, while by design, directs its usage more towards pattern recognition rather than direct identification of market tops and bottoms. Here's how you can leverage the Zigzag Indicator:
Harmonic Patterns - Ideal for those familiar with harmonic patterns, this tool simplifies the manual spotting of complex XABCD, ABC, and ABCD patterns on charts.
Chart Patterns - Effortlessly identify patterns like Double/Triple Taps, Head and Shoulders, Inverse Head and Shoulders, and Cup and Handle patterns with enhanced clarity. Navigate through challenging patterns such as Triangles, Wedges, Flags, and Price Channels, where the Zigzag Indicator adds a layer of precision to your breakout strategy.
Elliott Wave Components - The indicator's detailed pivot highlighting aids in identifying key Elliott Wave components, enhancing your wave analysis and decision-making process.
🎲 Deep Dive into Indicator Features
Join us as we explore the intricate features of our indicator in more detail.
🎯 Multi-Timeframe Capability
Our indicator comes equipped with an input option for selecting the desired resolution. This unique feature allows users to view higher timeframe Zigzag patterns directly on their lower timeframe charts.
🎯 Recursive Multi Level Zigzag
Our advanced recursive approach creates multi-level Zigzags from lower-level data. For instance, the level 0 Zigzag forms the base, calculated from specified length and depth parameters, while level 1 Zigzag is derived using level 0 as its foundation, and so forth.
The indicator not only displays multiple Zigzag levels but also offers settings to emphasize specific levels for more detailed analysis.
🎯 Sub-Components and Micro-Components of Zigzag Wave
Sub-components within a Zigzag wave consist of the previous level's Zigzag pivots. Meanwhile, the micro-components are composed of the base level (Level 0) Zigzag pivots encapsulated within the wave.
🎯 Curved Zigzag
Experience a new perspective with our curved Zigzag display. This innovative feature utilizes the polyline curved option to automatically generate sinusoidal waves based on multiple points.
🎯 Indicator Tracking
Default indicators such as RSI, MFI, and OBV are included, alongside the ability to track one external indicator at each Zigzag pivot.
🎯 Customizable Alerts
Our indicator employs the `alert()` function for alert creation. While this means the absence of a customization text box in the alert settings, we've included a custom text area for users to create their own alert templates.
Template placeholders include:
{alertType} - type of alert. Either Confirmed Pivot Update or Last Pivot Update. Depends on the alert type selected in the inputs.
When Last Pivot Update type is selected, the alerts are triggered whenever there is a new Zigzag Pivot. This may also be a repaint of last unconfirmed pivot.
When Confirmed Pivot Update type is selected, the alerts are triggered only when a pivot becomes a confirmed pivot.
{level} - Zigzag level on which the alert is triggered.
{pivot} - Details of the last pivot or confirmed pivot including price, ratio, indicator values and ratios, subcomponent and micro-component pivots.
🎲 User Settings Overview
🎯 Zigzag and Generic Settings
This involves some generic zigzag calculation settings such as length, depth, and timeframe. And few display options such as theme, Highlight Level and Curved Zigzag. By default, zigzag calculation is done based on the latest real time bar. An option is provided to disable this and use only confirmed bars for the calculation.
Indicator Settings
Allows users to track one or more oscillators or volume indicators. Option to add any indicator via external input is provided.
🎯 Alert Settings
Has input fields required to select and customize alerts.
TestMA-STATEOverview:
This Pine Script (version 6) is designed to generate trading events based on moving average (MA) behavior and dynamically calculated percentiles. It leverages a custom state machine library (version 7) from decrypt_capital to track and manage state transitions related to MA conditions, and it triggers alerts (and optionally, chart labels) when specific state transitions occur.
Key Components:
License & Metadata:
The script is distributed under the Mozilla Public License 2.0.
It carries copyright by decrypt_capital.
The title ("TestMA-STATE") and short title ("MA-STATE") are defined, and the script runs on an overlay with extended backtracking and drawing limits.
State Machine Integration:
The script imports the lib_statemachine_modified library (version 7) using the alias modSM.
A persistent state machine instance (MovingAverageDirection_SM) is created to manage various MA-related states.
Several state constants are defined to represent different market conditions, such as:
MA_SHORT_ABOVE_OVERBOUGHT: When the short MA low is above the overbought threshold.
MA_SHORT_CROSSUNDER_MID & MA_SHORT_CROSSUNDER_BIG: Conditions for bearish crossunders.
MA_SHORT_BELOW_OVERSOLD: When the short MA high is below the oversold threshold.
MA_SHORT_CROSSOVER_MID & MA_SHORT_CROSSOVER_BIG: Conditions for bullish crossovers.
Inputs & MA Calculation:
Users can choose the type of moving average (EMA, SMA, WMA, VWMA) and adjust lengths for short, mid, and big MAs.
Additional inputs include lookback length for percentile calculations and percentile thresholds for determining overbought and oversold boundaries.
The script computes:
Short MA Low and High: Based on the low and high series.
Mid MA and Big MA: Based on the average price (ohlc4).
Dynamic Percentile Boundaries:
Two functions (f_getPercentile() and f_getPercentileArr()) calculate dynamic percentile values from the MA data.
These functions determine the oversold and overbought boundaries used in the state transition conditions.
Timestamp & Alert Header Formatting:
A helper function (f_formatTimestamp()) formats timestamps into a human-readable form (e.g., "Tue 12 Mar 16:30").
This formatted time, along with ticker information and other details, is used to build an alert header.
State Transitions & Alerts:
The script calls the state machine’s step() method multiple times with conditions based on the relationship between MA values and the percentile boundaries.
For example:
A bullish condition is triggered when the short MA low moves above the overbought threshold.
A bearish condition is triggered when the short MA high falls below the oversold boundary.
Transitions are further refined by checking if the MA is rising or falling.
When specific state transitions occur (e.g., MA_SHORT_CROSSOVER_MID after MA_SHORT_BELOW_OVERSOLD), the script:
Checks that the transition is recent (using the barsSinceState() method).
Optionally creates a label on the chart.
Triggers an alert with a descriptive message.
Chart Plotting:
The script plots the calculated moving averages (short, mid, and optionally big) on the chart.
It also plots the dynamic percentile boundaries for visual reference.
Purpose & Usage:
Trading Signal Generation:
The primary goal is to monitor key MA conditions and trigger alerts when significant crossovers or crossunders occur. These events—such as bullish crossovers when the market recovers from oversold conditions or bearish crossunders when the market retracts from overbought conditions—can be used as trading signals.
Visualization:
Users have options to display the various moving averages and percentile boundaries directly on the chart, as well as optional labels that mark when an alert is generated.
Alerting:
When specific state transitions are detected, the script constructs and sends an alert message with a timestamp, ticker, and descriptive text, aiding traders in making timely decisions.
FVG Radar [Mr_Rakun]The FVG Radar indicator is designed to automatically detect Fair Value Gaps (FVG) on your TradingView chart. It visually highlights bullish and bearish gaps with colored boxes and provides alerts when specific conditions are met.
How It Works
Fair Value Gap (FVG) Detection:
The script identifies gaps based on previous price action. A bullish FVG is recognized when there is a gap below a higher low candle, and a bearish FVG when there is a gap above a lower high candle.
Radar Area:
A yellow “Radar Area” box is drawn on the chart using upper and lower bands defined as a percentage above and below the current price. This area helps you visualize where the price is relative to these bands.
Alerts:
Alerts are triggered based on user-defined conditions:
When price crosses half of the gap (if the "Clear FVG When Price Reaches Half" option is enabled).
When price fully fills the gap (if the option is disabled).
The alert will only be activated after waiting a specified number of bars post-gap formation (as set by the "Wait X Bars After FVG Formation" parameter).
Input Parameters
Radar Upper Band (%):
Sets the upper threshold percentage relative to the current price for the radar area.
Radar Lower Band (%):
Sets the lower threshold percentage relative to the current price for the radar area.
Minimum FVG Size (%):
Determines the minimum size (as a percentage) for a gap to be recognized as a valid FVG.
Clear FVG When Price Reaches Half:
If enabled, the FVG will be cleared when the price reaches the midpoint of the gap. If disabled, the entire gap must be filled before it is cleared.
Wait X Bars After FVG Formation:
Specifies the number of bars to wait after an FVG is detected before triggering an alert. This delay helps to avoid premature alerts.
Bullish and Bearish FVG Colors and Opacity:
Customize the appearance of the FVG boxes for bullish (green) and bearish (red) gaps, including the opacity of these visual elements.
How to Use
Add the Indicator:
Load the FVG Radar indicator on your TradingView chart.
Customize Settings:
Adjust the input parameters based on your trading style and the market’s volatility. The radar area settings help you set your own visual reference for price deviations.
Monitor the Chart:
Watch for the colored boxes that represent FVGs. The boxes will display the size of the gap as a percentage.
Respond to Alerts:
When an alert is triggered after the specified number of bars, it indicates that the price has interacted with the gap. Use this information to guide your trading decisions.
Türkçe --------------------------------------------
FVG Radar göstergesi, TradingView grafiğinizde Fair Value Gap (FVG) – yani adil değer boşluklarını – otomatik olarak tespit etmek için tasarlanmıştır. Bu boşluklar, yükseliş ve düşüş boşluklarını farklı renkli kutularla vurgular ve belirli koşullar sağlandığında uyarılar verir.
Nasıl Çalışır
Fair Value Gap (FVG) Tespiti:
Gösterge, önceki fiyat hareketlerine dayalı olarak boşlukları belirler. Yükseliş boşluğu, düşük seviyenin yukarıdaki mumun altındaki boşlukla oluştuğu durumlarda; düşüş boşluğu ise, yüksek seviyenin aşağıdaki mumun üstünde boşluk oluştuğunda tespit edilir.
Radar Alanı:
Grafikte, mevcut fiyata göre belirlenen üst ve alt yüzde bantlarına dayalı olarak sarı renkte “Radar Alanı” kutusu çizilir. Bu alan, fiyatın bu bantlara göre nerede olduğunu görsel olarak anlamanıza yardımcı olur.
Uyarılar:
Kullanıcının belirlediği koşullara göre uyarılar verilir:
Fiyat, boşluğun yarısına ulaştığında (eğer "FVG'nin yarısına ulaştığında temizle" seçeneği etkinse).
Fiyat boşluğu tamamen doldurduğunda (seçenek devre dışı bırakıldığında).
Uyarı, boşluk oluşumundan sonra belirlenen bar sayısı kadar bekledikten sonra tetiklenir ("FVG Oluşumundan Sonra X Bar Bekle" parametresi).
Giriş Parametreleri
Radar Upper Band (%):
Mevcut fiyata göre radar alanı için üst eşik yüzdesini ayarlar.
Radar Lower Band (%):
Mevcut fiyata göre radar alanı için alt eşik yüzdesini ayarlar.
Minimum FVG Size (%):
Bir boşluğun geçerli bir FVG olarak tanınabilmesi için gereken minimum boyutu (yüzde olarak) belirler.
FVG'nin yarısına ulaştığında temizle:
Etkinse, fiyat boşluğun orta noktasına ulaştığında boşluk temizlenir. Devre dışı bırakılırsa, boşluğun tamamen doldurulması gerekir.
FVG Oluşumundan Sonra X Bar Bekle:
Bir FVG tespit edildikten sonra uyarı tetiklenmeden önce beklenmesi gereken bar sayısını belirler. Bu gecikme, erken uyarıların önüne geçmeyi amaçlar.
Yükseliş ve Düşüş FVG Renkleri ve Opaklık:
Yükseliş boşlukları (yeşil) ve düşüş boşlukları (kırmızı) için kutuların görünümünü ve opaklığını özelleştirmenize olanak tanır.
Nasıl Kullanılır
Göstergeyi Ekleyin:
FVG Radar göstergesini TradingView grafiğinize ekleyin.
Ayarları Özelleştirin:
Ticaret tarzınıza ve piyasanın oynaklığına göre giriş parametrelerini ayarlayın. Radar alanı ayarları, fiyat sapmalarını kendi görsel referansınızla tanımlamanıza yardımcı olur.
Grafiği İzleyin:
FVG’leri temsil eden renkli kutuları takip edin. Kutular, boşluğun yüzdelik büyüklüğünü gösterecektir.
Uyarılara Tepki Verin:
Belirlenen bar sayısı sonrasında tetiklenen uyarı, fiyatın boşluk ile etkileşime girdiğini gösterir. Bu bilgiyi, ticaret kararlarınızı yönlendirmek için kullanın.
Multi-Symbol Volume Increase Screener [CHE] MultiSymbol Volume Increase Screener
Designed for TradingView
Presented by Chervolino
Introduction
Welcome to the presentation of the MultiSymbol Volume Increase Screener—a powerful tool designed to enhance your trading strategy on TradingView. Developed at the request of jscott143, this screener provides traders with realtime insights into significant volume movements across multiple symbols, enabling more informed and timely trading decisions.
Purpose and Objectives
Identify HighVolume Opportunities: Detect symbols experiencing a significant increase in volume compared to their historical average.
Monitor Multiple Symbols Simultaneously: Efficiently track up to five symbols in one view.
RealTime Alerts: Receive instant notifications when predefined volume conditions are met.
Comprehensive Overview: Display volume data and percentage increases in an organized table for easy analysis.
Key Features
1. MultiSymbol Monitoring
Track up to five different symbols simultaneously.
Customize the list of symbols based on your trading portfolio.
2. Volume Analysis
Compare current candle volume against the average volume over a specified period.
Calculate and display the percentage increase in volume.
3. RealTime Alerts
Set a volume increase multiplier (e.g., 1.5x) to trigger alerts.
Receive alerts via email, popup, or SMS when conditions are met.
4. UserFriendly Table Display
View symbols, their current volume, and percentage increase in a clear, concise table.
Colorcoded indicators highlight significant volume changes.
5. Customizable Parameters
Adjust the average volume period to suit different trading strategies.
Set your preferred volume increase multiplier for alerts.
How It Works
1. User Inputs:
Symbols Selection: Choose up to five symbols you wish to monitor.
Average Volume Period: Define the number of bars over which the average volume is calculated (default is 20).
Volume Increase Multiplier: Set the threshold for volume increase to trigger alerts (default is 1.5x).
2. Volume Calculation:
The screener fetches the current volume and calculates the simple moving average (SMA) of volume over the defined period for each symbol.
It then determines if the current volume exceeds the average volume by the specified multiplier.
3. Data Display:
A table is generated on the chart displaying each symbol, its current volume, and the percentage increase.
Green text indicates that the volume increase condition has been met.
4. Alert Generation:
When a symbol's current volume surpasses the average volume by the set multiplier, an alert is triggered.
Alerts are customizable and can be set to notify you through various channels.
Benefits
Enhanced DecisionMaking: Quickly identify highvolume trading opportunities across multiple assets.
Time Efficiency: Monitor several symbols without the need to switch between charts.
Proactive Trading: Stay informed with realtime alerts, allowing for timely trading actions.
Customization: Tailor the screener settings to align with your unique trading strategies and preferences.
Setup Instructions
1. Add the Screener to TradingView:
Navigate to TradingView and open the Pine Editor.
Add the MultiSymbol Volume Increase Screener indicator to your chart.
Save and apply the indicator.
2. Configure User Inputs:
Select up to five symbols you wish to monitor in the input fields "Symbol 1" to "Symbol 5".
Adjust the "Average Volume Period" and "Volume Increase Multiplier" as needed.
3. Set Up Alerts:
Click on the Alarm icon (🔔) in the TradingView toolbar.
In the "Condition" dropdown, select the "MultiSymbol Volume Increase Screener".
Choose the specific alert condition for each symbol (e.g., "Volume Increase Alert for Symbol 1").
Configure the alert actions (e.g., email, popup, SMS) and click "Create".
Repeat this process for each symbol you wish to monitor.
Visual Demonstration
Table Display Example:
| Symbol | Volume | % Increase |
| AAPL | 150,000 | 50.00% |
| MSFT | 120,000 | 20.00% |
| GOOGL | 180,000 | 80.00% |
| AMZN | 130,000 | 30.00% |
| TSLA | 160,000 | 60.00% |
Green Text: Indicates that the volume increase condition has been met for that symbol.
Alert Notification Example:
```
🚀 Symbol 1 shows a volume increase!
```
Note: Replace "Symbol 1" with the actual symbol as per your configuration.
Customization Options
Increase the Number of Symbols:
While the current screener monitors five symbols, it can be extended to monitor more by adding additional input fields and corresponding calculations. However, be mindful of TradingView's Pine Script limitations and potential performance impacts.
Adjust Volume Period and Multiplier:
Tailor the "Average Volume Period" and "Volume Increase Multiplier" to align with your specific trading strategies and market conditions.
Enhance Table Information:
Incorporate additional data points such as current price, price change percentage, or other technical indicators to enrich your analysis.
Benefits of Using the Screener
Efficiency: Saves time by providing a consolidated view of multiple symbols' volume activity.
Proactive Trading: Enables you to act swiftly on significant volume movements, which often precede price changes.
DataDriven Decisions: Facilitates informed trading decisions based on realtime volume analysis.
Customization: Offers flexibility to adapt the screener to various trading styles and preferences.
Conclusion
The MultiSymbol Volume Increase Screener is an invaluable tool for traders looking to capitalize on significant volume movements across multiple assets. Developed at the request of jscott143, this screener integrates seamlessly with TradingView, providing realtime insights and alerts to enhance your trading strategy.
Q&A
Feel free to ask any questions or request further customization to better suit your trading needs.
Contact Information
Created for: jscott143
Thank you for your attention!
Supertrend Crosses_AITSupertrend Crosser
Overview:
The "Supertrend Crosses" indicator is a technical analysis tool that combines two Supertrend lines with different parameters to generate buy and sell signals based on their crossovers. The indicator uses color coding to visualize the market trend and provides alerts for potential trade entries.
1. Settings and Inputs:
Supertrend A:
Factor: Multiplier for the ATR (Average True Range), which determines the sensitivity of Supertrend A.
ATR Period: Number of periods used to calculate the ATR for Supertrend A.
Supertrend B:
Factor: Multiplier for the ATR, which determines the sensitivity of Supertrend B.
ATR Period: Number of periods used to calculate the ATR for Supertrend B.
2. Indicator Components:
Supertrend A:
Plotted on the chart using dynamic coloring:
Green when Supertrend A is above Supertrend B.
Red when Supertrend A is below Supertrend B.
Supertrend B:
Plotted on the chart in white color to provide a visual reference for the crossover signals.
3. Crossover Signals:
Long Signal:
Triggered when Supertrend A crosses above Supertrend B.
A yellow upward triangle ("L") is displayed on the chart below the price bar.
Short Signal:
Triggered when Supertrend A crosses below Supertrend B.
A fuchsia downward triangle ("S") is displayed on the chart above the price bar.
4. How to Use the Indicator:
Identifying Trend Changes:
When Supertrend A crosses above Supertrend B, it indicates a potential upward trend, generating a buy signal.
Conversely, when Supertrend A crosses below Supertrend B, it suggests a potential downward trend, generating a sell signal.
Signal Visualization:
Yellow "L" markers indicate long entry points (buy signals).
Fuchsia "S" markers indicate short entry points (sell signals).
Alerts:
The indicator is equipped with alert conditions for both long and short signals. Users can set up alerts in TradingView to receive notifications when these signals occur.
5. Customization:
Supertrend Parameters:
The factors and ATR periods for Supertrend A and B can be adjusted in the settings to fit different market conditions and trading strategies.
Show Signals Option:
The user can toggle the display of the buy and sell signals on the chart through the "Show Signals?" checkbox in the settings.
6. Visual Representation:
Lines:
Supertrend A: Plotted with dynamic coloring based on its relation to Supertrend B.
Supertrend B: Plotted in white for a clear reference.
Markers:
"L" (yellow) for long signals and "S" (fuchsia) for short signals are plotted on the chart at the point of crossover.
7. Alerts Setup:
Buy Signal Alert: Alerts the user when Supertrend A crosses above Supertrend B.
Sell Signal Alert: Alerts the user when Supertrend A crosses below Supertrend B.
8. Advantages:
Simple and Effective: This indicator simplifies trend identification by using crossovers of two Supertrend lines.
Customizable: The indicator's parameters can be tailored to suit different trading styles and asset classes.
Alerts: Provides alert functionality to ensure traders do not miss trading opportunities.
9. Usage Tips:
Combine with Other Indicators: For more reliable signals, consider using this indicator in conjunction with other technical analysis tools like RSI, MACD, or support and resistance levels.
Risk Management: Always use appropriate risk management techniques, such as stop-loss orders, to protect your capital.
The "Supertrend Crosses" indicator offers a straightforward approach to identifying potential trend reversals and trade entries using the crossover of two Supertrend lines. It provides clear visual signals and alert notifications, making it a valuable tool for traders looking to incorporate trend-following strategies.
Ultimate Screener TemplateHello Traders
With the Ultimate Strategy Template , I shared a template to connect any indicator to this template and get backtesting results in less than a few minutes
Now sharing another template ... many traders ask me to develop for them a screener/scanner based on a custom indicator on TradingView.
The current TradingView screeners are great but don't allow for much customization; as we can only select pre-defined filters
I don't know when we'll be able to natively screen among hundreds of assets with a custom indicator... then.... I created this template for the time being.... which should
A whole new world
The Ultimate Screener Template screens over 38 securities.
What's very cool is that you'll only need to create 1 alert to scan over 38 securities: Explanation with this image here
I totally understand that not all TradingView accounts have a lot of alarms; with this template, you can multiply the number of custom alerts you're initially allowed to.
What if I need to set alerts on more than 38 securities?
Pretty straightforward... you can create alerts only if the indicator is added to your chart first.
So if you need let's say 100 securities, add this indicator 3 times on your chart (38*3 > 100) and then... edit the securities for your 3 indicators
How to update your Screener settings
Alert mode
As per Pinescript reference , this template allows setting the alert frequency
Possible values are:
- alert.freq_all (all function calls trigger the alert)
- alert.freq_once_per_bar (the first function call during the bar triggers the alert)
- alert.freq_once_per_bar_close (the function call triggers the alert only when it occurs during the last script iteration of the real-time bar when it closes).
All-time-high and All-time-low
This template shows how to capture ATH and ATL alerts across many securities
I used the functions from Quantnomad:
Whenever a new ATH or ATL is made, the screener will send a personalized alarm with a personalized text based on the security triggering this alarm
The code is pretty straightforward and shows you the part you'll need to update to transform your favorite custom indicator into a powerful screener.
If anything is unclear in the code, please leave a comment and I'll respond as soon as possible
All the best
Dave
Backtesting & Trading Engine [PineCoders]The PineCoders Backtesting and Trading Engine is a sophisticated framework with hybrid code that can run as a study to generate alerts for automated or discretionary trading while simultaneously providing backtest results. It can also easily be converted to a TradingView strategy in order to run TV backtesting. The Engine comes with many built-in strats for entries, filters, stops and exits, but you can also add you own.
If, like any self-respecting strategy modeler should, you spend a reasonable amount of time constantly researching new strategies and tinkering, our hope is that the Engine will become your inseparable go-to tool to test the validity of your creations, as once your tests are conclusive, you will be able to run this code as a study to generate the alerts required to put it in real-world use, whether for discretionary trading or to interface with an execution bot/app. You may also find the backtesting results the Engine produces in study mode enough for your needs and spend most of your time there, only occasionally converting to strategy mode in order to backtest using TV backtesting.
As you will quickly grasp when you bring up this script’s Settings, this is a complex tool. While you will be able to see results very quickly by just putting it on a chart and using its built-in strategies, in order to reap the full benefits of the PineCoders Engine, you will need to invest the time required to understand the subtleties involved in putting all its potential into play.
Disclaimer: use the Engine at your own risk.
Before we delve in more detail, here’s a bird’s eye view of the Engine’s features:
More than 40 built-in strategies,
Customizable components,
Coupling with your own external indicator,
Simple conversion from Study to Strategy modes,
Post-Exit analysis to search for alternate trade outcomes,
Use of the Data Window to show detailed bar by bar trade information and global statistics, including some not provided by TV backtesting,
Plotting of reminders and generation of alerts on in-trade events.
By combining your own strats to the built-in strats supplied with the Engine, and then tuning the numerous options and parameters in the Inputs dialog box, you will be able to play what-if scenarios from an infinite number of permutations.
USE CASES
You have written an indicator that provides an entry strat but it’s missing other components like a filter and a stop strategy. You add a plot in your indicator that respects the Engine’s External Signal Protocol, connect it to the Engine by simply selecting your indicator’s plot name in the Engine’s Settings/Inputs and then run tests on different combinations of entry stops, in-trade stops and profit taking strats to find out which one produces the best results with your entry strat.
You are building a complex strategy that you will want to run as an indicator generating alerts to be sent to a third-party execution bot. You insert your code in the Engine’s modules and leverage its trade management code to quickly move your strategy into production.
You have many different filters and want to explore results using them separately or in combination. Integrate the filter code in the Engine and run through different permutations or hook up your filtering through the external input and control your filter combos from your indicator.
You are tweaking the parameters of your entry, filter or stop strat. You integrate it in the Engine and evaluate its performance using the Engine’s statistics.
You always wondered what results a random entry strat would yield on your markets. You use the Engine’s built-in random entry strat and test it using different combinations of filters, stop and exit strats.
You want to evaluate the impact of fees and slippage on your strategy. You use the Engine’s inputs to play with different values and get immediate feedback in the detailed numbers provided in the Data Window.
You just want to inspect the individual trades your strategy generates. You include it in the Engine and then inspect trades visually on your charts, looking at the numbers in the Data Window as you move your cursor around.
You have never written a production-grade strategy and you want to learn how. Inspect the code in the Engine; you will find essential components typical of what is being used in actual trading systems.
You have run your system for a while and have compiled actual slippage information and your broker/exchange has updated his fees schedule. You enter the information in the Engine and run it on your markets to see the impact this has on your results.
FEATURES
Before going into the detail of the Inputs and the Data Window numbers, here’s a more detailed overview of the Engine’s features.
Built-in strats
The engine comes with more than 40 pre-coded strategies for the following standard system components:
Entries,
Filters,
Entry stops,
2 stage in-trade stops with kick-in rules,
Pyramiding rules,
Hard exits.
While some of the filter and stop strats provided may be useful in production-quality systems, you will not devise crazy profit-generating systems using only the entry strats supplied; that part is still up to you, as will be finding the elusive combination of components that makes winning systems. The Engine will, however, provide you with a solid foundation where all the trade management nitty-gritty is handled for you. By binding your custom strats to the Engine, you will be able to build reliable systems of the best quality currently allowed on the TV platform.
On-chart trade information
As you move over the bars in a trade, you will see trade numbers in the Data Window change at each bar. The engine calculates the P&L at every bar, including slippage and fees that would be incurred were the trade exited at that bar’s close. If the trade includes pyramided entries, those will be taken into account as well, although for those, final fees and slippage are only calculated at the trade’s exit.
You can also see on-chart markers for the entry level, stop positions, in-trade special events and entries/exits (you will want to disable these when using the Engine in strategy mode to see TV backtesting results).
Customization
You can couple your own strats to the Engine in two ways:
1. By inserting your own code in the Engine’s different modules. The modular design should enable you to do so with minimal effort by following the instructions in the code.
2. By linking an external indicator to the engine. After making the proper selections in the engine’s Settings and providing values respecting the engine’s protocol, your external indicator can, when the Engine is used in Indicator mode only:
Tell the engine when to enter long or short trades, but let the engine’s in-trade stop and exit strats manage the exits,
Signal both entries and exits,
Provide an entry stop along with your entry signal,
Filter other entry signals generated by any of the engine’s entry strats.
Conversion from strategy to study
TradingView strategies are required to backtest using the TradingView backtesting feature, but if you want to generate alerts with your script, whether for automated trading or just to trigger alerts that you will use in discretionary trading, your code has to run as a study since, for the time being, strategies can’t generate alerts. From hereon we will use indicator as a synonym for study.
Unless you want to maintain two code bases, you will need hybrid code that easily flips between strategy and indicator modes, and your code will need to restrict its use of strategy() calls and their arguments if it’s going to be able to run both as an indicator and a strategy using the same trade logic. That’s one of the benefits of using this Engine. Once you will have entered your own strats in the Engine, it will be a matter of commenting/uncommenting only four lines of code to flip between indicator and strategy modes in a matter of seconds.
Additionally, even when running in Indicator mode, the Engine will still provide you with precious numbers on your individual trades and global results, some of which are not available with normal TradingView backtesting.
Post-Exit Analysis for alternate outcomes (PEA)
While typical backtesting shows results of trade outcomes, PEA focuses on what could have happened after the exit. The intention is to help traders get an idea of the opportunity/risk in the bars following the trade in order to evaluate if their exit strategies are too aggressive or conservative.
After a trade is exited, the Engine’s PEA module continues analyzing outcomes for a user-defined quantity of bars. It identifies the maximum opportunity and risk available in that space, and calculates the drawdown required to reach the highest opportunity level post-exit, while recording the number of bars to that point.
Typically, if you can’t find opportunity greater than 1X past your trade using a few different reasonable lengths of PEA, your strategy is doing pretty good at capturing opportunity. Remember that 100% of opportunity is never capturable. If, however, PEA was finding post-trade maximum opportunity of 3 or 4X with average drawdowns of 0.3 to those areas, this could be a clue revealing your system is exiting trades prematurely. To analyze PEA numbers, you can uncomment complete sets of plots in the Plot module to reveal detailed global and individual PEA numbers.
Statistics
The Engine provides stats on your trades that TV backtesting does not provide, such as:
Average Profitability Per Trade (APPT), aka statistical expectancy, a crucial value.
APPT per bar,
Average stop size,
Traded volume .
It also shows you on a trade-by-trade basis, on-going individual trade results and data.
In-trade events
In-trade events can plot reminders and trigger alerts when they occur. The built-in events are:
Price approaching stop,
Possible tops/bottoms,
Large stop movement (for discretionary trading where stop is moved manually),
Large price movements.
Slippage and Fees
Even when running in indicator mode, the Engine allows for slippage and fees to be included in the logic and test results.
Alerts
The alert creation mechanism allows you to configure alerts on any combination of the normal or pyramided entries, exits and in-trade events.
Backtesting results
A few words on the numbers calculated in the Engine. Priority is given to numbers not shown in TV backtesting, as you can readily convert the script to a strategy if you need them.
We have chosen to focus on numbers expressing results relative to X (the trade’s risk) rather than in absolute currency numbers or in other more conventional but less useful ways. For example, most of the individual trade results are not shown in percentages, as this unit of measure is often less meaningful than those expressed in units of risk (X). A trade that closes with a +25% result, for example, is a poor outcome if it was entered with a -50% stop. Expressed in X, this trade’s P&L becomes 0.5, which provides much better insight into the trade’s outcome. A trade that closes with a P&L of +2X has earned twice the risk incurred upon entry, which would represent a pre-trade risk:reward ratio of 2.
The way to go about it when you think in X’s and that you adopt the sound risk management policy to risk a fixed percentage of your account on each trade is to equate a currency value to a unit of X. E.g. your account is 10K USD and you decide you will risk a maximum of 1% of it on each trade. That means your unit of X for each trade is worth 100 USD. If your APPT is 2X, this means every time you risk 100 USD in a trade, you can expect to make, on average, 200 USD.
By presenting results this way, we hope that the Engine’s statistics will appeal to those cognisant of sound risk management strategies, while gently leading traders who aren’t, towards them.
We trade to turn in tangible profits of course, so at some point currency must come into play. Accordingly, some values such as equity, P&L, slippage and fees are expressed in currency.
Many of the usual numbers shown in TV backtests are nonetheless available, but they have been commented out in the Engine’s Plot module.
Position sizing and risk management
All good system designers understand that optimal risk management is at the very heart of all winning strategies. The risk in a trade is defined by the fraction of current equity represented by the amplitude of the stop, so in order to manage risk optimally on each trade, position size should adjust to the stop’s amplitude. Systems that enter trades with a fixed stop amplitude can get away with calculating position size as a fixed percentage of current equity. In the context of a test run where equity varies, what represents a fixed amount of risk translates into different currency values.
Dynamically adjusting position size throughout a system’s life is optimal in many ways. First, as position sizing will vary with current equity, it reproduces a behavioral pattern common to experienced traders, who will dial down risk when confronted to poor performance and increase it when performance improves. Second, limiting risk confers more predictability to statistical test results. Third, position sizing isn’t just about managing risk, it’s also about maximizing opportunity. By using the maximum leverage (no reference to trading on margin here) into the trade that your risk management strategy allows, a dynamic position size allows you to capture maximal opportunity.
To calculate position sizes using the fixed risk method, we use the following formula: Position = Account * MaxRisk% / Stop% [, which calculates a position size taking into account the trade’s entry stop so that if the trade is stopped out, 100 USD will be lost. For someone who manages risk this way, common instructions to invest a certain percentage of your account in a position are simply worthless, as they do not take into account the risk incurred in the trade.
The Engine lets you select either the fixed risk or fixed percentage of equity position sizing methods. The closest thing to dynamic position sizing that can currently be done with alerts is to use a bot that allows syntax to specify position size as a percentage of equity which, while being dynamic in the sense that it will adapt to current equity when the trade is entered, does not allow us to modulate position size using the stop’s amplitude. Changes to alerts are on the way which should solve this problem.
In order for you to simulate performance with the constraint of fixed position sizing, the Engine also offers a third, less preferable option, where position size is defined as a fixed percentage of initial capital so that it is constant throughout the test and will thus represent a varying proportion of current equity.
Let’s recap. The three position sizing methods the Engine offers are:
1. By specifying the maximum percentage of risk to incur on your remaining equity, so the Engine will dynamically adjust position size for each trade so that, combining the stop’s amplitude with position size will yield a fixed percentage of risk incurred on current equity,
2. By specifying a fixed percentage of remaining equity. Note that unless your system has a fixed stop at entry, this method will not provide maximal risk control, as risk will vary with the amplitude of the stop for every trade. This method, as the first, does however have the advantage of automatically adjusting position size to equity. It is the Engine’s default method because it has an equivalent in TV backtesting, so when flipping between indicator and strategy mode, test results will more or less correspond.
3. By specifying a fixed percentage of the Initial Capital. While this is the least preferable method, it nonetheless reflects the reality confronted by most system designers on TradingView today. In this case, risk varies both because the fixed position size in initial capital currency represents a varying percentage of remaining equity, and because the trade’s stop amplitude may vary, adding another variability vector to risk.
Note that the Engine cannot display equity results for strategies entering trades for a fixed amount of shares/contracts at a variable price.
SETTINGS/INPUTS
Because the initial text first published with a script cannot be edited later and because there are just too many options, the Engine’s Inputs will not be covered in minute detail, as they will most certainly evolve. We will go over them with broad strokes; you should be able to figure the rest out. If you have questions, just ask them here or in the PineCoders Telegram group.
Display
The display header’s checkbox does nothing.
For the moment, only one exit strategy uses a take profit level, so only that one will show information when checking “Show Take Profit Level”.
Entries
You can activate two simultaneous entry strats, each selected from the same set of strats contained in the Engine. If you select two and they fire simultaneously, the main strat’s signal will be used.
The random strat in each list uses a different seed, so you will get different results from each.
The “Filter transitions” and “Filter states” strats delegate signal generation to the selected filter(s). “Filter transitions” signals will only fire when the filter transitions into bull/bear state, so after a trade is stopped out, the next entry may take some time to trigger if the filter’s state does not change quickly. When you choose “Filter states”, then a new trade will be entered immediately after an exit in the direction the filter allows.
If you select “External Indicator”, your indicator will need to generate a +2/-2 (or a positive/negative stop value) to enter a long/short position, providing the selected filters allow for it. If you wish to use the Engine’s capacity to also derive the entry stop level from your indicator’s signal, then you must explicitly choose this option in the Entry Stops section.
Filters
You can activate as many filters as you wish; they are additive. The “Maximum stop allowed on entry” is an important component of proper risk management. If your system has an average 3% stop size and you need to trade using fixed position sizes because of alert/execution bot limitations, you must use this filter because if your system was to enter a trade with a 15% stop, that trade would incur 5 times the normal risk, and its result would account for an abnormally high proportion in your system’s performance.
Remember that any filter can also be used as an entry signal, either when it changes states, or whenever no trade is active and the filter is in a bull or bear mode.
Entry Stops
An entry stop must be selected in the Engine, as it requires a stop level before the in-trade stop is calculated. Until the selected in-trade stop strat generates a stop that comes closer to price than the entry stop (or respects another one of the in-trade stops kick in strats), the entry stop level is used.
It is here that you must select “External Indicator” if your indicator supplies a +price/-price value to be used as the entry stop. A +price is expected for a long entry and a -price value will enter a short with a stop at price. Note that the price is the absolute price, not an offset to the current price level.
In-Trade Stops
The Engine comes with many built-in in-trade stop strats. Note that some of them share the “Length” and “Multiple” field, so when you swap between them, be sure that the length and multiple in use correspond to what you want for that stop strat. Suggested defaults appear with the name of each strat in the dropdown.
In addition to the strat you wish to use, you must also determine when it kicks in to replace the initial entry’s stop, which is determined using different strats. For strats where you can define a positive or negative multiple of X, percentage or fixed value for a kick-in strat, a positive value is above the trade’s entry fill and a negative one below. A value of zero represents breakeven.
Pyramiding
What you specify in this section are the rules that allow pyramiding to happen. By themselves, these rules will not generate pyramiding entries. For those to happen, entry signals must be issued by one of the active entry strats, and conform to the pyramiding rules which act as a filter for them. The “Filter must allow entry” selection must be chosen if you want the usual system’s filters to act as additional filtering criteria for your pyramided entries.
Hard Exits
You can choose from a variety of hard exit strats. Hard exits are exit strategies which signal trade exits on specific events, as opposed to price breaching a stop level in In-Trade Stops strategies. They are self-explanatory. The last one labelled When Take Profit Level (multiple of X) is reached is the only one that uses a level, but contrary to stops, it is above price and while it is relative because it is expressed as a multiple of X, it does not move during the trade. This is the level called Take Profit that is show when the “Show Take Profit Level” checkbox is checked in the Display section.
While stops focus on managing risk, hard exit strategies try to put the emphasis on capturing opportunity.
Slippage
You can define it as a percentage or a fixed value, with different settings for entries and exits. The entry and exit markers on the chart show the impact of slippage on the entry price (the fill).
Fees
Fees, whether expressed as a percentage of position size in and out of the trade or as a fixed value per in and out, are in the same units of currency as the capital defined in the Position Sizing section. Fees being deducted from your Capital, they do not have an impact on the chart marker positions.
In-Trade Events
These events will only trigger during trades. They can be helpful to act as reminders for traders using the Engine as assistance to discretionary trading.
Post-Exit Analysis
It is normally on. Some of its results will show in the Global Numbers section of the Data Window. Only a few of the statistics generated are shown; many more are available, but commented out in the Plot module.
Date Range Filtering
Note that you don’t have to change the dates to enable/diable filtering. When you are done with a specific date range, just uncheck “Date Range Filtering” to disable date filtering.
Alert Triggers
Each selection corresponds to one condition. Conditions can be combined into a single alert as you please. Just be sure you have selected the ones you want to trigger the alert before you create the alert. For example, if you trade in both directions and you want a single alert to trigger on both types of exits, you must select both “Long Exit” and “Short Exit” before creating your alert.
Once the alert is triggered, these settings no longer have relevance as they have been saved with the alert.
When viewing charts where an alert has just triggered, if your alert triggers on more than one condition, you will need the appropriate markers active on your chart to figure out which condition triggered the alert, since plotting of markers is independent of alert management.
Position sizing
You have 3 options to determine position size:
1. Proportional to Stop -> Variable, with a cap on size.
2. Percentage of equity -> Variable.
3. Percentage of Initial Capital -> Fixed.
External Indicator
This is where you connect your indicator’s plot that will generate the signals the Engine will act upon. Remember this only works in Indicator mode.
DATA WINDOW INFORMATION
The top part of the window contains global numbers while the individual trade information appears in the bottom part. The different types of units used to express values are:
curr: denotes the currency used in the Position Sizing section of Inputs for the Initial Capital value.
quote: denotes quote currency, i.e. the value the instrument is expressed in, or the right side of the market pair (USD in EURUSD ).
X: the stop’s amplitude, itself expressed in quote currency, which we use to express a trade’s P&L, so that a trade with P&L=2X has made twice the stop’s amplitude in profit. This is sometimes referred to as R, since it represents one unit of risk. It is also the unit of measure used in the APPT, which denotes expected reward per unit of risk.
X%: is also the stop’s amplitude, but expressed as a percentage of the Entry Fill.
The numbers appearing in the Data Window are all prefixed:
“ALL:” the number is the average for all first entries and pyramided entries.
”1ST:” the number is for first entries only.
”PYR:” the number is for pyramided entries only.
”PEA:” the number is for Post-Exit Analyses
Global Numbers
Numbers in this section represent the results of all trades up to the cursor on the chart.
Average Profitability Per Trade (X): This value is the most important gauge of your strat’s worthiness. It represents the returns that can be expected from your strat for each unit of risk incurred. E.g.: your APPT is 2.0, thus for every unit of currency you invest in a trade, you can on average expect to obtain 2 after the trade. APPT is also referred to as “statistical expectancy”. If it is negative, your strategy is losing, even if your win rate is very good (it means your winning trades aren’t winning enough, or your losing trades lose too much, or both). Its counterpart in currency is also shown, as is the APPT/bar, which can be a useful gauge in deciding between rivalling systems.
Profit Factor: Gross of winning trades/Gross of losing trades. Strategy is profitable when >1. Not as useful as the APPT because it doesn’t take into account the win rate and the average win/loss per trade. It is calculated from the total winning/losing results of this particular backtest and has less predictive value than the APPT. A good profit factor together with a poor APPT means you just found a chart where your system outperformed. Relying too much on the profit factor is a bit like a poker player who would think going all in with two’s against aces is optimal because he just won a hand that way.
Win Rate: Percentage of winning trades out of all trades. Taken alone, it doesn’t have much to do with strategy profitability. You can have a win rate of 99% but if that one trade in 100 ruins you because of poor risk management, 99% doesn’t look so good anymore. This number speaks more of the system’s profile than its worthiness. Still, it can be useful to gauge if the system fits your personality. It can also be useful to traders intending to sell their systems, as low win rate systems are more difficult to sell and require more handholding of worried customers.
Equity (curr): This the sum of initial capital and the P&L of your system’s trades, including fees and slippage.
Return on Capital is the equivalent of TV’s Net Profit figure, i.e. the variation on your initial capital.
Maximum drawdown is the maximal drawdown from the highest equity point until the drop . There is also a close to close (meaning it doesn’t take into account in-trade variations) maximum drawdown value commented out in the code.
The next values are self-explanatory, until:
PYR: Avg Profitability Per Entry (X): this is the APPT for all pyramided entries.
PEA: Avg Max Opp . Available (X): the average maximal opportunity found in the Post-Exit Analyses.
PEA: Avg Drawdown to Max Opp . (X): this represents the maximum drawdown (incurred from the close at the beginning of the PEA analysis) required to reach the maximal opportunity point.
Trade Information
Numbers in this section concern only the current trade under the cursor. Most of them are self-explanatory. Use the description’s prefix to determine what the values applies to.
PYR: Avg Profitability Per Entry (X): While this value includes the impact of all current pyramided entries (and only those) and updates when you move your cursor around, P&L only reflects fees at the trade’s last bar.
PEA: Max Opp . Available (X): It’s the most profitable close reached post-trade, measured from the trade’s Exit Fill, expressed in the X value of the trade the PEA follows.
PEA: Drawdown to Max Opp . (X): This is the maximum drawdown from the trade’s Exit Fill that needs to be sustained in order to reach the maximum opportunity point, also expressed in X. Note that PEA numbers do not include slippage and fees.
EXTERNAL SIGNAL PROTOCOL
Only one external indicator can be connected to a script; in order to leverage its use to the fullest, the engine provides options to use it as either an entry signal, an entry/exit signal or a filter. When used as an entry signal, you can also use the signal to provide the entry’s stop. Here’s how this works:
For filter state: supply +1 for bull (long entries allowed), -1 for bear (short entries allowed).
For entry signals: supply +2 for long, -2 for short.
For exit signals: supply +3 for exit from long, -3 for exit from short.
To send an entry stop level with an entry signal: Send positive stop level for long entry (e.g. 103.33 to enter a long with a stop at 103.33), negative stop level for short entry (e.g. -103.33 to enter a short with a stop at 103.33). If you use this feature, your indicator will have to check for exact stop levels of 1.0, 2.0 or 3.0 and their negative counterparts, and fudge them with a tick in order to avoid confusion with other signals in the protocol.
Remember that mere generation of the values by your indicator will have no effect until you explicitly allow their use in the appropriate sections of the Engine’s Settings/Inputs.
An example of a script issuing a signal for the Engine is published by PineCoders.
RECOMMENDATIONS TO ASPIRING SYSTEM DESIGNERS
Stick to higher timeframes. On progressively lower timeframes, margins decrease and fees and slippage take a proportionally larger portion of profits, to the point where they can very easily turn a profitable strategy into a losing one. Additionally, your margin for error shrinks as the equilibrium of your system’s profitability becomes more fragile with the tight numbers involved in the shorter time frames. Avoid <1H time frames.
Know and calculate fees and slippage. To avoid market shock, backtest using conservative fees and slippage parameters. Systems rarely show unexpectedly good returns when they are confronted to the markets, so put all chances on your side by being outrageously conservative—or a the very least, realistic. Test results that do not include fees and slippage are worthless. Slippage is there for a reason, and that’s because our interventions in the market change the market. It is easier to find alpha in illiquid markets such as cryptos because not many large players participate in them. If your backtesting results are based on moving large positions and you don’t also add the inevitable slippage that will occur when you enter/exit thin markets, your backtesting will produce unrealistic results. Even if you do include large slippage in your settings, the Engine can only do so much as it will not let slippage push fills past the high or low of the entry bar, but the gap may be much larger in illiquid markets.
Never test and optimize your system on the same dataset , as that is the perfect recipe for overfitting or data dredging, which is trying to find one precise set of rules/parameters that works only on one dataset. These setups are the most fragile and often get destroyed when they meet the real world.
Try to find datasets yielding more than 100 trades. Less than that and results are not as reliable.
Consider all backtesting results with suspicion. If you never entertained sceptic tendencies, now is the time to begin. If your backtest results look really good, assume they are flawed, either because of your methodology, the data you’re using or the software doing the testing. Always assume the worse and learn proper backtesting techniques such as monte carlo simulations and walk forward analysis to avoid the traps and biases that unchecked greed will set for you. If you are not familiar with concepts such as survivor bias, lookahead bias and confirmation bias, learn about them.
Stick to simple bars or candles when designing systems. Other types of bars often do not yield reliable results, whether by design (Heikin Ashi) or because of the way they are implemented on TV (Renko bars).
Know that you don’t know and use that knowledge to learn more about systems and how to properly test them, about your biases, and about yourself.
Manage risk first , then capture opportunity.
Respect the inherent uncertainty of the future. Cleanse yourself of the sad arrogance and unchecked greed common to newcomers to trading. Strive for rationality. Respect the fact that while backtest results may look promising, there is no guarantee they will repeat in the future (there is actually a high probability they won’t!), because the future is fundamentally unknowable. If you develop a system that looks promising, don’t oversell it to others whose greed may lead them to entertain unreasonable expectations.
Have a plan. Understand what king of trading system you are trying to build. Have a clear picture or where entries, exits and other important levels will be in the sort of trade you are trying to create with your system. This stated direction will help you discard more efficiently many of the inevitably useless ideas that will pop up during system design.
Be wary of complexity. Experienced systems engineers understand how rapidly complexity builds when you assemble components together—however simple each one may be. The more complex your system, the more difficult it will be to manage.
Play! . Allow yourself time to play around when you design your systems. While much comes about from working with a purpose, great ideas sometimes come out of just trying things with no set goal, when you are stuck and don’t know how to move ahead. Have fun!
@LucF
NOTES
While the engine’s code can supply multiple consecutive entries of longs or shorts in order to scale positions (pyramid), all exits currently assume the execution bot will exit the totality of the position. No partial exits are currently possible with the Engine.
Because the Engine is literally crippled by the limitations on the number of plots a script can output on TV; it can only show a fraction of all the information it calculates in the Data Window. You will find in the Plot Module vast amounts of commented out lines that you can activate if you also disable an equivalent number of other plots. This may be useful to explore certain characteristics of your system in more detail.
When backtesting using the TV backtesting feature, you will need to provide the strategy parameters you wish to use through either Settings/Properties or by changing the default values in the code’s header. These values are defined in variables and used not only in the strategy() statement, but also as defaults in the Engine’s relevant Inputs.
If you want to test using pyramiding, then both the strategy’s Setting/Properties and the Engine’s Settings/Inputs need to allow pyramiding.
If you find any bugs in the Engine, please let us know.
THANKS
To @glaz for allowing the use of his unpublished MA Squize in the filters.
To @everget for his Chandelier stop code, which is also used as a filter in the Engine.
To @RicardoSantos for his pseudo-random generator, and because it’s from him that I first read in the Pine chat about the idea of using an external indicator as input into another. In the PineCoders group, @theheirophant then mentioned the idea of using it as a buy/sell signal and @simpelyfe showed a piece of code implementing the idea. That’s the tortuous story behind the use of the external indicator in the Engine.
To @admin for the Volatility stop’s original code and for the donchian function lifted from Ichimoku .
To @BobHoward21 for the v3 version of Volatility Stop .
To @scarf and @midtownsk8rguy for the color tuning.
To many other scripters who provided encouragement and suggestions for improvement during the long process of writing and testing this piece of code.
To J. Welles Wilder Jr. for ATR, used extensively throughout the Engine.
To TradingView for graciously making an account available to PineCoders.
And finally, to all fellow PineCoders for the constant intellectual stimulation; it is a privilege to share ideas with you all. The Engine is for all TradingView PineCoders, of course—but especially for you.
Look first. Then leap.
AWR Pearsons R & LR Oscillator MTF1. Overview
This indicator is designed to analyze the correlation between a price series (or any custom indicator) and the bar index using Pearson’s correlation coefficient. It performs multiple linear regressions over shifted periods and then aggregates these results to create an oscillator. In addition, it integrates a multi-timeframe (MTF) analysis by retrieving the same calculations on 3 different time intervals, providing a more comprehensive view of the trend evolution.
2. User Parameters
The indicator offers several configurable parameters that allow the user to adjust both the calculations and the display:
Source (Linear Regression): The data source on which the regressions are applied (by default, the closing price).
Number of Linear Regressions (numOfLinReg): Allows choosing the number of correlation calculations (up to 10) to be carried out on different shifted periods.
Start Period (startPeriod) and Period Increment (periodIncrement): These parameters define the reference window for each regression. The calculation starts with a base period and then increases with each regression by a fixed increment, creating several time windows to assess the relationship between price evolution and time progression.
Deviation (def_deviation): Although defined, this parameter is intended to control the sensitivity of the calculations. It can be used in further developments of the indicator.
For Multi Time Frames analysis, three additional timeframes are provided through inputs in addition of the current period:
Sum up :
Timeframe 1 = current
Timeframe 2 = 30-minute (default settings)
Timeframe 3 = 1-hour (default settings)
Timeframe 4 = 4-hour (default settings)
These different timeframes allow you to obtain consistent or divergent signals over multiple resolutions, thereby enhancing the confidence of trading decisions.
3. Calculation Logic
At the core of the indicator is the f_calcConditions() function, which performs several essential tasks:
Calculating Pearson's Coefficients For each linear regression, the script uses ta.correlation() to measure the correlation between the chosen source (for example, the closing price) and the chronological index (bar_index). Up to 10 coefficients are computed over shifted windows, providing an evolving view of the linear relationship over different intervals.
Averaging the Results Once the coefficients are calculated, they are stored in an array and averaged to produce a global correlation value called avgPR_local.
Applying Moving Averages
The resulting average is then smoothed using several moving averages (SMA):
A short-term SMA (period of 14),
An intermediate SMA (period of 100),
A long-term SMA (period of 400).
These moving averages help to highlight the underlying trend of the oscillator by indicating the direction in which the correlation is moving.
Defining Trading Conditions Based on avgPR_local and its associated SMAs, multiple conditions are set to generate buy or sell signals:
Simple SMA Conditions :
Small signal :
Light blue below bar signal :
When the averaged coefficients lie between -1 and -0.63, are above the short-term SMA (14 periods), and are increasing, it may indicate a bullish dynamic (buy signal).
Orange above bar signal :
Conversely, when the value is higher (between 0.63 and 1) and below its SMA (14 periods), and are decreasing the trend is considered bearish (sell signal).
Medium signal :
Dark green signal
When the averaged coefficients lie between -1 and -0.45, are above the short-term SMA (14 periods), and are increasing, and also the average 100 is increasing. It may indicate a bullish dynamic (buy signal).
Light red signal :
Conversely, when the value is higher (between 0.45 and 1) and below its SMA (14 periods), the trend and are decreasing, and also the average 100 is decreasing. It may indicate a bearish dynamic(sell signal).
Light green signal :
When the averaged coefficients lie between -1 and -0.15, are above the short-term SMA (14 periods), and are increasing, and also the average 100 & 400 is increasing . It may indicate a bullish dynamic (buy signal).
Dark red signal :
Conversely, when the value is higher (between 0.45 and 1) and below its SMA (14 periods), the trend and are decreasing, and also the average 100 & 400 is decreasing. It may indicate a bearish dynamic(sell signal).
These additional conditions further refine the signals by verifying the consistency of the movement over longer periods. They check that the trends from the respective averages (intermediate and long-term) are in line with the direction indicated by the initial moving average.
These conditions are designed to capture moments when the oscillator's dynamics change, which can be interpreted as opportunities to enter or exit a trade.
4. Multi-Timeframes and Display
One of the main strengths of this indicator is its multi-timeframe approach.
This offers several advantages:
Comparative Analysis: Compare short-term dynamics with broader trends.
Enhanced Signal Reliability: A signal confirmed across multiple timeframes has a higher probability of success.
To visually highlight these signals on the chart, the indicator uses the plotchar() function with distinct symbols for each timeframe:
Current Timeframe: Signals are represented by the character "1"
30-Minute Timeframe: Displayed with the character "2".
1-Hour Timeframe: Displayed with the character "3".
4-Hour Timeframe: Displayed with the character "4".
The colors used are various shades of green for buy signals and shades of red/orange for sell signals, making it easy to distinguish between the different alerts.
5. Integrated Alerts
To avoid missing any trading opportunities, the indicator includes an alert condition via the alertcondition() function. This alert is triggered if any buy or sell signal is generated on any of the analyzed timeframes. The message "MTF valide" indicates that multiple timeframes are confirming the signal, enabling more informed decision-making.
6. How to Use This Indicator
Installation and Configuration: Copy the script into the TradingView Pine Script editor and add it to your chart. The default parameters can be tuned according to market behavior or personal preferences regarding sensitivity and responsiveness.
Interpreting the Signals:
Watch for the symbols on the chart corresponding to each timeframe.
A buy signal appears as a specific symbol below the bar (indicating a bullish condition based on a rising or less negative correlation), while a sell signal appears above the bar.
Multi-Timeframe Analysis: By comparing signals across timeframes, you can filter out false signals. For example, if the short-term timeframe shows a buy signal but the 4-hour timeframe indicates a bearish trend, you may need to reassess your position.
Adjusting the Settings: Depending on the asset type or market volatility, you might need to tweak the periods (startPeriod, periodIncrement) or the number of linear regressions to generate signals that better align with the price dynamics.
Using Alerts: Activate the built-in alert feature so that TradingView notifies you as soon as a multi-timeframe signal is detected. This ensures you stay informed even if you are not continuously monitoring the chart.
In Conclusion
The AWR Pearsons R & LR Oscillator MTF is a powerful tool for traders seeking a detailed understanding of market trends by combining statistical rigor (via Pearson's correlation coefficient) with a multi-timeframe approach. It is capable of generating clear entry and exit signals, visualized with specific symbols and colors depending on the timeframe. By adjusting the parameters to match your trading strategy and leveraging the alert system, you now have a robust instrument for making well-informed market decisions.
Feel free to dive deeper into each component and experiment with different configurations to see how the oscillator integrates with your overall technical analysis strategy. Enjoy exploring its potential and refining your trading approach!
Real-Time Price Comparator→ La version française se trouve plus bas ←
Real-Time Price Spread Comparator
This indicator allows you to compare the real-time price difference (spread) between two assets. It is particularly useful for spotting arbitrage opportunities or price discrepancies between different markets.
💡 Why is this useful?
This tool is especially practical for monitoring the gap between CME futures and the spot market. If the spread becomes too large, we can expect the market to rebalance, which can help anticipate potential price movements.
📌 Features:
✅ Compare two assets of your choice (default: BTC CME vs. BTC OANDA).
✅ Displays the spread as a real-time value on the chart.
✅ Customizable threshold for alerts when the spread exceeds a certain value.
✅ Visual alert: The label changes color and an alert icon appears when the threshold is exceeded.
✅ Adjustable label position to avoid obstructing candlestick wicks.
🛠️ How to Use:
1️⃣ Choose the asset to compare (for example, BTC CME).
2️⃣ Select the main chart (the one you are currently viewing, such as BTC OANDA).
3️⃣ Set the alert threshold (the spread value that will trigger an alert).
4️⃣ Adjust the label position using the offset settings if needed.
5️⃣ When the spread exceeds the threshold, an alert will be displayed!
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Comparateur de Spread en Temps Réel
Cet indicateur permet de comparer en temps réel la différence de prix (spread) entre deux actifs. Il est particulièrement utile pour détecter des opportunités d’arbitrage ou des écarts de prix entre différents marchés.
💡 Pourquoi c'est utile ?
Cet outil est pratique pour surveiller l’écart entre les contrats à terme CME et le marché spot. Si l’écart devient trop important, on peut s’attendre à ce que le marché s’équilibre, ce qui peut nous orienter sur les futurs mouvements du prix.
📌 Fonctionnalités :
✅ Comparez deux actifs de votre choix (par défaut : BTC CME vs. BTC OANDA).
✅ Affiche le spread en temps réel directement sur le graphique.
✅ Définissez un seuil d’alerte pour être notifié visuellement sur le graphique si le spread dépasse une certaine valeur.
✅ Alerte visuelle : le label change de couleur et une icône d’alerte apparaît en cas de dépassement.
✅ Ajustez la position du label pour éviter qu’il ne cache les mèches des bougies.
🛠️ Comment l’utiliser :
1️⃣ Choisissez l’actif à comparer (exemple : BTC CME).
2️⃣ Sélectionnez ensuite l’actif affiché sur votre graphique principal (exemple : BTC OANDA).
3️⃣ Définissez le seuil d’alerte (valeur du spread qui déclenchera une alerte).
4️⃣ Ajustez la position du label grâce aux options d’offset si nécessaire.
5️⃣ Si le spread dépasse le seuil, une alerte visuelle apparaîtra !
