Trading Made Easy ATR BandsAs always, this is not financial advice and use at your own risk. Trading is risky and can cost you significant sums of money if you are not careful. Make sure you always have a proper entry and exit plan that includes defining your risk before you enter a trade.
Background:
This is my take on two relatively famous indicators that paint the colour of your candles in order to help identify trend direction and smooth out market noise. The Elder Impulse System was designed by Dr . Alexander Elder in his book Come Into My Trading Room and attempts to identify the change of trends and when these trends speed up and slow down (school.stockcharts.com). The system used a 13 period EMA and a MACD histogram, and compared each of these indicators to the previous period. In short, when both the histogram and the EMA were rising, the trend was accelerating to the upside and when both were falling, accelerating to the downside. Conversely, when the indicators were not in alignment, say the MACD falling but the EMA rising, it signaled a slowing down of momentum. The downside of this indicator is that it be can rather jumpy, focusing on a short period EMA for 50% of its calculation, leaving a trader to potentially sit on the sidelines during opportune pull backs to enter winning positions, or exit early when there is still a lot of gas left in the tank.
A similar concept has been employed by John Carter and his organization, SimplerTrading, with the 10X bars indicator. However, here they use the famous Directional Movement Index (DMI) created by J. Welles Wilder as the basis for their bars (www.simplertrading.com). John Carter states that the use of this indicator can lead to getting in earlier on more, bigger, and faster setups. The downside of this indicator is the reliance on the ADX calculations to keep you out of rangebound trades. Anyone who is familiar with the DMI system understands it has unparalleled ability to identify longer term trends, but it is also quite slow, leaving the trader to miss a good portion of the initial runup due to this ADX portion that is very slow to get moving and also slow to signal exits.
In short, both of these systems are designed with one thing in mind: keeping the trader on the right side of the move --- but both suffer from the same issue but on opposite sides of the spectrum. One is too fast and the other is too slow. Ultimately, leaving profits on the table for the trader when such a situation could be avoided.
Here I present my own take on these and have made the “Trading Made Easy ATR Bands”. I name it this because trading is much easier when you trade with the prevailing trend, and this system identifies these periods quite effectively while doing a better job of handling the speed flux of most markets. The base formula uses the DMI as its main calculation and the relationship between the DMI+ and DMI- lines, respectively, like the 10X bars. While the trader can investigate these on their own to understand these more intimately, essentially the DMI+ and DMI- lines are calculating the highs and lows respectively of each bar compared to a period in the past and smoothed with the true range, a measurement of volatility . What this ultimately presents is a picture of uptrends and downtrends, where price is making consistently more highs or more lows over a period of time. Where I have modified this relative to the 10X bars is I have ignored the ADX calculations. Further, values over 25 have been discussed as “strong” momentum, in my calculations, I have sped this up to 20 to get a trader into the move earlier. Second, I have added an additional calculation based around the 21-period exponential moving average calculated against its previous output. This then, like the Elder Impulse System, has two forms of market momentum as its calculation to smooth out noise, but has the benefit of being less jumpy, like the original 10X bar system. I have added a series of exponential moving averages following the Fibonacci sequence from 8-144 as a system of dynamic support and resistance showing the sentiment of both the shorter and longer term market participants. Last, I have added a series of Keltner Channels , from 1X-4X, that encompass the 21 period EMA as a base line. The 21 EMA is a stable in all of John Carter’s work and I do believe he is correct that the market is mostly structured around this line, since it roughly approximates one month of trading data. It is not uncommon to see price expand and contract back to this line over and over again.
Trade Signals:
Strong Bullish Momentum – The system will generate a green bar when the DMI+ line is over the DMI- line, the DMI+ line is equal or greater than 20 and the 21 EMA has increased relative to its last close.
Weak Bullish Momentum – The system will generate a blue bar in several scenarios. First, when the DMI+ line is over the DMI- line but the DMI+ line is not over 20 and the EMA is equal or less than the previous close. It will also print a blue bar if either the DMI or the EMA are not aligned, such as the DMI+ is over the DMI- but not over 20 but the EMA has risen compared to the last bar. Last, it will also print a blue bar if the DMI- is over the DMI+ but the EMA is rising.
Strong Bearish Momentum – The system will generate a red bar when the DMI- line is over the DMI+ line, the DMI- line is equal or greater than 20, and the 21 EMA has fallen relative to its last close.
Weak Bearish Momentum – The system will generate an orange bar in several scenarios. First when the DMI- line is over the DMI+ line but the DMI- line is not over 20 and the EMA is equal or greater than the last bar. It will also print an orange bar if either the DMI or the EMA are not aligned, such as the DMI- is over the DMI+ but not over 20 but the EMA has fallen. Lastly, it will also print an orange bar if the DMI+ line is over the DMI- and the EMA has fallen relative to the last bar.
Uses:
1) Like the Elder Impulse System and 10X Bar systems, these should be used as trade filters only.. It is in the trader’s best interest to trade with the trends and these bars identify these periods but may not always generate the most opportune time to enter a market. For instance, trying to short a market when the market is in a phase of Strong Bullish Momentum would not be wise, and vice versa with trying to open long positions when the market is exhibiting Strong Bearish Momentum. Use multiple forms of evidence to confirm the signals shown before entering any trade and to not take these signals on their without confluence of ideas. A viable system could use the Elder Triple Screen System (for reference, see this decent write up --- www.dailyforex.com) with the Trading Made Easy Bands as your “Tide” or longer term filter, and a further trading plan to establish an entry on a short time frame pull back.
2) Interim Trend Exhaustion – Keltner channels work as moving standard deviations from the 21 EMA . 3X multipliers will encompass 99.7% of price and 4X will encompass 99.9% of price away from the 21 EMA . During a trend it would be a good idea to lock in partial profits when price reaches these outer extrema as it is very highly probable that a retracement back to the mean is approaching. While not part of the system, and not recommended to be used by this system, a mean reversion trader could in theory look for reversals at these extrema points and trade a mean reversion strategy back to the 21EMA, but is a much riskier trade with lower probability of success. A trend trader should look to enter trades when a signal is given within the 1ATR or 2ATR zone as this is when price has not really started accelerating yet and is likely to see continued momentum in that direction.
Cerca negli script per "bar"
Smoothed Waddah ATR~~~All Credit to LAZY BEAR for posting the original Script which is an old MT4 indicator.~~~~
No this system does not repaint... if it does let me know. Either the code is wrong or you are using a repainting chart such as renko candles.
*PURPOSE*
This Is an "Enhanced or Smoothed" version of the script that captures the heiken-ashi closing price as its main calculation variable. While using normal bar or line charts. Enhancements integrate trade filters to reduce false signals.
*WHAT TYPE OF TRADING STRATEGY IS THIS?*
This is a Long Only, Trend Trading System. Is intended to be applied to Charts/Timeframes that produce sustainable trends for which ever asset you are trading.
*NOTE OF ADVICE REGARDING SETTINGS*
Settings can be tweaked but I have found that best results come with the given settings. If a chart is too choppy to trade this indicator successfully, it is advised not to change the settings but either find a different timeframe or different asset to apply this strategy to.
TLDR
Indicator measures the change of the MacD (difference between MAC D of given EMA's) and compares it to the difference between the Upper and Lower Bollinger bands. Green bar over trigger line= entry. Red bar over trigger line = close.
*SETTINGS AND INPUTS*
-MacD of HeikenAshi chart (will always be of the Heikenashi chart even when applied to different chart type)
sensitivity = input(150, title='Sensitivity') =range should be (125-175)multiplier so that MacD can be compared to BB
fastLength = input(20, title='MacD FastEMA Length')
slowLength = input(40, title='MacD SlowEMA Length')
-Bollinger Band of currently used price chart type
channelLength = input(20, title='BB Channel Length')
mult = input(1.5, title='BB Stdev Multiplier')
-14 Period RSI Trade Filter (set to 0 to Disable)
RSI14filter = input(40, title='RSI Value trade filter') =only gives entry when RSI is higher than given value
*ABSTRACT & CONCEPT*
TLDR - Indicator measures the change of the MacD (difference between MAC D of given EMA's) and compares it to the difference between the Upper and Lower Bollinger bands. Green bar over trigger line= entry. Red bar over trigger line = close.
Indicator plots -
Bars are the change in the MAC D and the indicator line is the difference in the BB.
When Bars are higher than the indicator line then it is considered a trend "Explosion"
Green Bars are Trend Explosion to the upside, Red Bars are Trend explosion to the downside.
GENERAL DETAIL-
the core calculation is measuring the change in MacD of current candle compared to the MacD of two previous candles.
This value is multiplied by the sensitivy so it can be compared to the change in Bollinger Band Width.
if the MACD change is positive then you get a green/lime bar for that value. If the MacDchange is negative you get a red/orange bar for that value.
and are determined by whether the actual change is increasing in that direction or decreasing. (bars getting taller or bars getting shorter)
Entry signal for long is A positive change in MACD difference (Green bar) that is greater than the change of the bollinger band (orange signal line) AND if the RSI value is above your filter.
Close signal or Trend Stop Warning Signal is given when a Negative MacD Difference (red bar) is greater than the change of the bollinger band (orange Line)
*CONSIDERATIONS AND THOUGHTS*
I have over 150 iterations of this indicator and this is the most consistent and best version of settings and filters I was able to generate. I built this indicator specifically for 3 charts. SPY monthly, QQQ monthly, BTC 3 Day. However this indicator works well on any long term bullish chart. (tech stocks are great) .
Trend trading systems are intended to be homerun hitting, plunge protecting indicators that allow for long legs and expanding volatility. This indicator does this as the trigger line is Dynamic with the expansion and contraction of the bollinger band.
I do not take every signal specifically not the close signals. Instead they more like warnings in ultra bullish environments.
If i had to pair this indicator with any other filter than the RSI, it would be a long term moving average i.e. the 50 week or equivalent for your chart. signals above rising moving averages means that you are trading with an upward trending market.
Hope this helps. Happy trades.
-SnarkyPuppy
logLibrary "log"
A Library to log and display messages in a table, with different colours.
The log consists of 3 columns:
Bar Index / Message / Log
Credits
QuantNomad - for his idea on logging messages as Error/Warnings and displaying the color based on the type of the message
setHeader(_t, _location, _header1, _header2, _header3, _halign, _valign, _size) Sets the header for the table to be used for displaying the logs.
Parameters:
_t : table, table to be used for printing
_location : string, Location of the table.
_header1 : string, the name to put into the Index Queue Header. Default is 'Bar #'
_header2 : string, the name to put into the Message Queue Header. Default is 'Message'
_header3 : string, the name to put into the Log Queue Header. Default is 'Log'
_halign : string, the horizontal alignment of header. Options - Left/Right/Center
_valign : string, the vertical alignment of header. Options - Top/Bottom/Center
_size : string, the size of text of header. Options - Tiny/Small/Normal/Large/Huge/Auto
Returns: Void
initHeader(_location, _rows, _header1, _header2, _header3, _halign, _valign, _size, _frameBorder, _cellBorder) Creates the table for logging.
3 columns will be displayed.
Bar Index Q / Message Q / Log Q
Parameters:
_location : string, Location of the table.
_rows : int, table size, excluding the header. Default value is 40.
_header1 : string, the name to put into the Index Queue Header. Default is 'Bar #'
_header2 : string, the name to put into the Message Queue Header. Default is 'Message'
_header3 : string, the name to put into the Log Queue Header. Default is 'Log'
_halign : string, the horizontal alignment of header. Options - Left/Right/Center
_valign : string, the vertical alignment of header. Options - Top/Bottom/Center
_size : string, the size of text of header. Options - Tiny/Small/Normal/Large/Huge/Auto
_frameBorder : int, table Frame BorderWidth. Default value is 1.
_cellBorder : int, table Cell Borders Width, Default value is 2.
Returns: table
init(_rows) Initiate array variables for logging.
Parameters:
_rows : int, table size, excluding the header. Default value is 40.
Returns: tuple, arrays - > error code Q, bar_index Q, Message Q, Log Q
log(_ec, _idx, _1, _2, _m1, _m2, _code, _prefix, _suffix) logs a message to logging queue.
Parameters:
_ec : int , Error/Codes (1-7) for colouring.
Default Colour Code is 1 - Gray, 2 - Orange, 3 - Red, 4 - Blue, 5 - Green, 6 - Cream, 7 - Offwhite
_idx : int , bar index Q. The index of current bar is logged automatically
you can add before and after this index value, whatever you choose to, via the _prefix and _suffix variables.
_1 : string , Message Q.
_2 : string , Log Q
_m1 : string, message needed to be logged to Message Q
_m2 : string, detailed log needed to be logged to Log Q
_code : int, Error/Code to be assigned. Default code is 1.
_prefix : string, prefix to Bar State Q message
_suffix : string, suffix to Bar State Q message
Order of logging would be Bar Index Q / Message Q / Log Q
Returns: void
resize(_ec, _idx, _1, _2, _rows) Resizes the all messaging queues.
a resize will delete the existing table, so a new header/table has to be initiated after the resize.
This is because pine doesnt allow changing the table dimensions once they have been recreated.
If size is decreased then removes the oldest messages
Parameters:
_ec : int , Error/Codes (1-7) for colouring.
_idx : int , bar index Q.
_1 : string , Message Q.
_2 : string , Log Q
_rows : int, the new size needed for the queue. Default value is 40.
Returns: void
print(_t, _ec, _idx, _1, _2, halign, halign, _size) Prints Bar Index Q / Message Q / Log Q
Parameters:
_t : table, table to be used for printing
_ec : int , Error/Codes (1-7) for colouring.
Default Colour Code is 1 - Gray, 2 - Orange, 3 - Red, 4 - Blue, 5 - Green, 6 - Cream, 7 - Offwhite
_idx : int , for bar index Q.
_1 : string , Message Q.
_2 : string , Log Q
halign : string, the horizontal alignment of all message column. Options - Left/Right/Center
halign : string, the vertical alignment of all message column. Options - Top/Bottom/Center
_size : string, the size of text across the table, excepr the headers. Options - Tiny/Small/Normal/Large/Huge/Auto
Returns: void
printx(_t, _idx, _1, _2, _ec, _fg, _bg, _halign, _valign, _size) Prints Bar Index Q / Message Q / Log Q, but with custom options to format the table and colours
Parameters:
_t : table, table to be used for printing
_idx : int , for bar index Q.
_1 : string , Message Q.
_2 : string , Log Q
_ec : int , Error/Codes (1-7) for colouring.
_fg : color , Color array specifying colours for foreground. Maximum length is seven. Need not provide all seven, but atleast one. If not enough provided then last colour in the array is used for missing codes
_bg : color , Same as fg.
_halign : string, the horizontal alignment of all message column. Options - Left/Right/Center
_valign : string, the vertical alignment of all message column. Options - Top/Bottom/Center
_size : string, the size of text across the table, excepr the headers. Options - Tiny/Small/Normal/Large/Huge/Auto
Returns: void
flush(_t, _idx, _1, _2, _ec) Clears queues of existing messages, filling with blanks and 0
Parameters:
_t : table, table to be flushed
_idx : int , for bar index Q.
_1 : string , Message Q.
_2 : string , Log Q
_ec : int , Error/Codes (1-7) for colouring.
Returns: void.
erase(_idx, _1, _2, _ec) Deletes message queue and the table used for displaying the queue
Parameters:
_idx : int , for bar index Q.
_1 : string , Message Q.
_2 : string , Log Q
_ec : int , Error/Codes (1-7) for colouring.
Returns: void
Elder Impulse System + ATR BandsDisregard the above chart, I am not sure why it isn't showing the one I want, which is linked below:
This is as far as I can tell the closest representation to Dr. Alexander Elder's updated "Elder Impulse System" that has added ATR-volatility bands up to 3x deviations from price. I got the idea from watching this recent video (www.youtube.com) of Dr. Elder reviewing some recent trades and noticed he had updated his system from his original books. The Impulse System colour coding was inspired by AstralLoverFlow and LazyBear. ATR Bands are pre-programmed Keltner Channels with some modifications such as filing in the ATR Zones with user-selected colour bands and modifying the ATR value to better suit the volatility of the market being traded.
The script has several components, which I will detail below:
Exponential Moving Averages:
1) A 13-period EMA that is used as a staple in all of Dr. Elder's technical analysis. He uses this EMA as the basis for all of his indicators and why it is included here.
2) A 26-period EMA which can be used as a base-line of sorts to filter when to go long or when to go short. For instance, price over the 26-EMA, price is strong and the rally upwards is likely to continue, underneath it, price is weak and likely to continue downwards for a time.
Volatility Bands:
By definition these are nothing more than 3 separate Keltner Channels of a 13-period EMA each set to one additional multiplier from the moving average. This gives us a 1x, 2x, and 3x multiplier of average volatility from the 13-period EMA based on a 14-period Average True Range (ATR) reading. The ATR was chosen as it accommodates price gaps and also is the standard formula calculation in TradingView. The values of the bands cannot be adjusted but the colour coding of them can be.
Elder Impulse System:
These colour-coded bars show you the strength and direction of the current chart resolution, calculated by the slope of a 13-period EMA and the slope of a MACD histogram. These are used not as a buying or selling recommendation alone but as trend filters, as per Dr. Elder's own description of them.
Green Bars = The 13-period EMA is sloping positively and the MACD histogram is rising compared to previous bars. The trader should only consider buying/long opportunities when a green bar is most recent.
Red Bars = The 13-period EMA is sloping negatively and the MACD histogram is falling compared to previous bars. The trader should only consider selling/short opportunities when a red bar is most recent.
Blue Bars = The 13-period EMA and the MACD histogram are not aligned. One of the indicators is sloping opposite to the other indicator. These are known as indecision bars and are typically seen near the end of a previously established trend. The trader can choose to wait for either a green or red bar to shape their trading bias if they are more risk-averse while a counter-trend trader may decide to try opening a position against the currently-established trend.
How To Trade the System:
This system is unique in that it is so versatile and will fit the styles of many traders, be it trend following traders (generally the original Elder Impulse System design) or mean-reversion/counter-trend trading (the original Keltner Channel design). None of the examples below or in the chart above are financial advice and are just there for demonstration purposes only.
1) The most basic signal given would be the moving average cross up or down. A cross of the 13-EMA over the 26-EMA signals upward trend strength and the trader could look for buying opportunities. Conversely, the 13-EMA under the 26-EMA shows downward trend strength and the trader could look for selling opportunities.
2) Following the Elder Impulse system in conjunction with the EMAs. Look for long opportunities when a green bar is printed and price is over both of the 13- and 26-period EMAs. Look for short opportunities when a red bar is printed and price is below both of the 13- and 26-period EMAs. Keep in mind this does not necessarily need a moving average cross to be viable, a green or red bar over both EMAs is a valid signal in this system, usually. Examine price more closely for better entry signals when a blue bar is printed and price is either above or below both EMAs if you are a trend trader. This is how Dr. Elder originally intended the system to be used in conjunction with his famous Triple Screen Trading System. I am not going into detail here as it is a deep subject but I would suggest an interested trader to examine this Triple Screen System further as it is widely accepted as a strong strategy.
3) Mean Reversion and Counter-Trend Trading. Dr. Elder mentions that the zone between the two EMAs is called the Value Zone. A mean reversion trader could look for buying opportunities if price has generally been in an uptrend and falls back to value, conversely, they could look for shorting opportunities if price has generally been in a downtrend and rises back to value. These are your very basic pull backs found in trends that create your higher lows in an uptrend or your lower highs in a downtrend. A mean reversion/scalper trader may also look to use the upper and lower most ATR bands as an indication of price being overbought or oversold and could look to enter a counter-trend trade here once a blue indecision bar is printed and to ride that move back down to the Value Zone.
Taking Profits and Risk Management
This system again is very versatile and will fit a wide range of trading styles. It has built in take profit levels and risk management depending on your style of trading.
1a) In original Triple Screen Trading (and the original Elder Impulse system), a trader was to place a buy order one tick above a newly printed green bar with a stop loss one tick below the most recent 2-day low, and vice-versa for red bars on short selling. as long as other criteria were met, that I will not go into. It is all over YouTube and in his books and on Investopedia if you want more information. The general idea is to continue the trend in the direction if price is strong and you are bought into that move with a close stop, or if price falls back a little bit, you can get in at a better price. This would be a system typically better suited to a scalper.
1b) The updated risk management according to the above video is to place a stop loss at least 2ATR away from price. These bands already have calculated these values so a trader can place a stop one tick below the 2 or even 3ATR zones depending on their risk appetite. This is assuming you have already received a strong buy signal based on the system you follow. This would be a system typically better suited to a trend-trader.
2a) Taking profits if you are a trend trader has several possibilities. The first, as Dr. Elder suggests, is to place a price target 2ATR values away from your entry giving you approximately a 1:1 risk-reward ratio.
2b) The second possibility if the trade is successful is to ride the trend upwards until a blue bar is printed, suggesting indecision in the market. A modified version of this that could let a winning trade run longer is to wait for the price to close under the 13-EMA in fast markets, or close under the 26-EMA in slightly slower markets to maximize potential winnings.
2c) A scalper trader may wish to have a target at either the value zone if they are playing an extended buy/short back to the mean, or if they are being at the mean, to sell or cover when price extends back out to the 2x or 3x zone.
3) Trend traders can additionally use the ATR zones as a sort of safety guidelines for entering a trade. Anything within the 1ATR zone is typically a safer entry as the market is less volatile at this time. Entering when price has gone into the 2ATR zone is signaled as a strong momentum move and can signal a stronger move in the direction of the current closing bar. While not always the case, it is suggested by Dr. Elder to not enter trend trades at the 3ATR zone as this is where you will be likely looking for a counter-trend retracement back to value and a trader entering here in the direction of the trade has a higher chance of being stopped out or not getting in at the best possible price.
Bollinger Bands SRThis simple script base on Bollinger Bands to defined Support and Resistance and marked Bar False broken SR by Reversal Arrow. Detail of rule as below:
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1.Defined Support and Resistance
1.1.Support
+ Key bar:
- Open Price lower than BB lower band, Close Price higher than BB lower band
+ Support Zone:
- Bottom Zone place at Low Price of Key bar
- Top Zone place at Median Price (HL2) of Key bar
1.2.Resistance
+ Key bar:
- Open Price higher than BB upper band, Close Price lower than BB upper band
+ Resistance Zone:
- Bottom Zone place at Median Price (HL2) of Key bar
- Top Zone place at High Price of Key bar
1.3.Median Line
+ Median Line place at half of Range limit by Support and Resistance
================================================
2.Defined False Break
2.1.Defined Bull Trap
+ High Price higher than Top of Resistance Zone
+ Close Price lower than Top of Resistance Zone
+ Open Price higher than Bottom of Resistance Zone
+ Bar Direction is downward
+ Body of current Bar greater than Body of previous bar
2.2.Defined Bear Trap
+ Low Price lower than Bottom of Support Zone
+ Close Price higher than Bottom of Support Zone
+ Open Price lower than Top of Support Zone
+ Bar Direction is upward
+ Body of current Bar greater than Body of previous bar
================================================
3.Defined Reversal Arrow and Alert
+ Arrow Down when Bull Trap appear
+ Arrow Up when Bear Trap appear
+ Alert when Reversal Arrow appear
================================================
4.Trading
4.1.Long Position
+ Consider open positon when Arrow Up appear
+ Stoploss place at Low Price of Arrow Bar
+ Take profit at Resistance Zone
+ Consider Exit Position when:
- Price moving above Median Line and has Bearish Reversal Pattern
4.2.Short Position
+ Consider open positon when Arrow Down appear
+ Stoploss place at High Price of Arrow Bar
+ Take profit at Support Zone
+ Consider Exit Position when:
- Price moving below Median Line and has Bullish Reversal Pattern
efficiency of bulls and bears for VSA(Google translation from Russian.)
This indicator shows the effectiveness of selling or buying.
It is calculated as follows: using percentrank, the volume and the value of the spread are estimated (momentum = 1)
the resulting estimate of the volume value is divided by the estimate of the spread (momentum = 1) and thus we obtain the value. The larger it is, the more efficient and easier the price movement was.
If the indicator value is small, then this means that the movement was ineffective, because the volume (money) was invested. but no result.
The color of the volume bars is assigned as follows:
Buyers:
If the volume is large - Blue - green
If middle, then blue
Small - light blue
Sellers:
If the volume is large - Burgundy color
If middle, then purple
Small volume - light purple
Indicator parameters:
Comparison period - the period at which the volumes and spread are compared with each other - by default it is 50, selected as the most universal period suitable for different timeframes. But for daytime ones. Weekly and monthly timeframes may need to be shortened. This is true after significant spikes in volume that are exceptional over the long term.
Period spread - Bars from close to close - or in other words, it is momentum - defaults to 1
sensitivity of increased volumes - according to the percentrank indicator - the limit above which the volume will be considered large, the same as in the Volume on bar VSA - indicator V2 - for clarity, I recommend looking at it.
The default is 85, which means. that if the current value of the volume is greater than 85% of the remaining values in this period, then such a value of the volume will be considered high.
medium volume sensitivity - the same sensitivity of increased volumes but for medium volumes.
multiplier of increased volumes - this is an empirical factor to emphasize the importance of increased volumes - default = 20
multiplier of average volumes - the same. As above, but for medium volumes - the default is 10
reduced volume multiplier - Default is 1.
Knowledge of VSA is required to read this indicator
This indicator is recommended for use with indicators:
Volume on bar VSA - indicator V2
BAR for VSA
Russian language
Этот индикатор показывает эффективность продаж или покупок.
Рассчитывается следующим образом: с помощью percentrank оценивается величина объема и велечина спреда (momentum = 1)
полученная оценка велечины объема делится на оценку спреда (momentum = 1) и таким образом получаем значение. Чем оно больше, тем движение цены было эффективнее и легче.
Если значение индикатора маленькое, то это означает, что движение было неэффективным, поскольку объем (деньги) вложили. а результата нет.
Цвет барам объемов присваиваются следующим образом:
У покупателей:
Если объем большой - Сине – зелёный цвет
Если средний – то голубой
Маленький – свело-голубой
У продавцов:
Если объем большой - Бордовый цвет
Если средний – то пурпурный
Маленький объем – светло-пурпурный
Параметры индикатора:
Comparison period (период для сравнения) – период на котором между собой сравниваются объемы и спред – по умолчанию равно 50 , выбрано как наиболее универсальный период подходящий для различных таймфреймов. Но для дневных. Недельных и месячных таймфреймов может потребоваться уменьшить период. Это актуально после значительных всплесков объемов, которые являются исключительными на длительном периоде.
Period spread - Bars from close to close (Период спреда - Баров от закрытия до закрытия) – или другими словами это momentum – по умолчанию равно 1
sensitivity of increased volumes (чувствительность повышенных объемов) – согласно индикатору percentrank – граница выше которой объем будет считаться большим, то же самое, что в индикаторе Volume on bar VSA - indicator V2 – для наглядности как это работает рекомендую посмотреть его.
По умолчанию задано 85 – это означает. что если текущее значение объема больше, чем 85% остальных значений на этом периоде, то такое значение объема будет считаться высоким.
medium volume sensitivity (чувствительность средних объемов) – то же самое sensitivity of increased volumes но для средних объемов.
multiplier of increased volumes (множитель (вес) повышенных объемов) – это эмперический коэффициент для придания особой важности повышенным объемам- по умолчанию = 20
multiplier of average volumes (множитель (вес) средних объемов) – то же самое. Что и выше, но для средних объемов – по умолчанию равно 10
reduced volume multiplier (множитель (вес) пониженных объемов) – по умолчанию равно 1.
Для чтения данного индикатора необходимо знание VSA
Этот индикатор рекомендуется использовать с индикаторами:
Volume on bar VSA - indicator V2
BAR for VSA
Joseph Nemeth Heiken Ashi Renko MTF StrategyFor Educational Purposes. Results can differ on different markets and can fail at any time. Profit is not guaranteed. This only works in a few markets and in certain situations. Changing the settings can give better or worse results for other markets.
Nemeth is a forex trader that came up with a multi-time frame heiken ashi based strategy that he showed to an older audience crowd on a speaking event video. He seems to boast about his strategy having high success results and makes an astonishing claim that looking at heiken ashi bars instead of regular candlestick bar charts can show the direction of the trend better and simpler than many other slower non-price based indicators. He says pretty much every indicator is about the same and the most important indicator is price itself. He is pessimistic about the markets and seems to think it is rigged and there is a sort of cabal that created rules to favor themselves, such as the inability of traders to hedge in one broker account, and that to win you have to take advantage of the statistics involved in the game. He believes fundamentals, chart patterns such as cup and handle and head and shoulders, and fibonacci numbers don't matter, only price matters. The foundation of his trading strategy is based around heiken ashi bars because they show a statistical pattern that can supposedly be taken advantage of by them repeating around seventy or so percent of the time, and then combines this idea with others based on the lower time frames involved.
The first step he uses is to identify the trend direction in the higher time frame(daily or 4 hourly) using the color of the heiken ashi bar itself. If it is green then take only long position after the bar completes, if it is red then take only short position. Next, on a lower time frame(1 hour or 30 minutes) look for the slope of the 20 exponential moving average to be sloping upward if going long or the slope of the ema to be sloping downward if going short(the price being above the moving average can work too if it's too hard to visualize the slope). Then look for the last heiken ashi bar, similarly to the first step, if it is green take long position, if it is red take short position. Finally the entry indicator itself will decide the entry on the lowest time frame. Nemeth recommends using MACD or CCI or possibly combine the two indicators on a 5 min or 15 min or so time frame if one does not have access to renko or range bars. If renko bars are available, then he recommends a 5 or 10 tick bar for the size(although I'm not sure if it's really possible to remove the time frame from renko bars or if 5 or 10 ticks is universal enough for everything). The idea is that renko bars paint a bar when there is price movement and it's important to have movement in the market, plus it's a simple indicator to use visually. The exit strategy is when the renko or the lowest time frame indicator used gives off an exit signal or if the above conditions of the higher time frames are not being met(he was a bit vague on this). Enter trades with only one-fifth of your capital because the other fifths will be used in case the trades go against you by applying a hedging technique he calls "zero zone recovery". He is somewhat vague about the full workings(perhaps because he uses his own software to automate his strategy) but the idea is that the second fifth will be used to hedge a trade that isn't going well after following the above, and the other fifths will be used to enter on another entry condition or if the other hedges fail also. Supposedly this helps the trader always come out with a profit in a sort of bushido-like trading tactic of never accepting defeat. Some critics argue that this is simply a ploy by software automation to boost their trade wins or to sell their product. The other argument against this strategy is that trading while the heiken ashi bar has not completed yet can jack up the backtest results, but when it comes to trading in real time, the strategy can end up repainting, so who knows if Nemeth isn't involving repainting or not, however he does mention the trades are upon completion of the bar(it came from an audience member's question). Lastly, the 3 time frames in ascending or descending fashion seem to be spaced out by about factors of 4 if you want to trade other time frames other than 5/15min,30min/1hour, or 4hour/daily(he mentioned the higher time frame should be atleast a dozen times higher than the lower time frame).
Personally I have not had luck getting the seventy+ percent accuracy that he talks about, whether in forex or other things. I made the default on renko bars to an ATR size 1 setting because it looks like the most universal option if the traditional mode box size is too hard to guess, and I made it so that you can switch between ATR and Traditional mode just in case. I don't think the strategy repaints because I think TV set a default on the multi-time frame aspects of their code to not re-paint, but I could be wrong so you might want to watch out for that. The zero zone recovery technique is included in the code but I commented it out and/or remove it because TV does not let you apply hedging properly, as far as I know. If you do use a proper hedging strategy with this, you'll find a very interesting bushido type of trading style involved with the Japanese bars that can boost profits and win rates of around possibly atleast seventy percent on every trade but unfortunately I was not able to test this part out properly because of the limitation on hedging here, and who knows if the hedging part isn't just a plot to sell his product. If his strategy does involve the repainting feature of the heiken ashi bars then it's possible he might have been preaching fools-gold but it's hard to say because he did mention it is upon completion of the bars. If you find out if this strategy works or doesn't work or find out a good setting that I somehow didn't catch, please feel free to let me know, will gladly appreciate it. We are all here to make some money!
Bitcoin Block Height (Total Blocks)Bitcoin Block Height by RagingRocketBull 2020
Version 1.0
Differences between versions are listed below:
ver 1.0: compare QUANDL Difficulty vs Blockchain Difficulty sources, get total error estimate
ver 2.0: compare QUANDL Hash Rate vs Blockchain Hash Rate sources, get total error estimate
ver 3.0: Total Blocks estimate using different methods
--------------------------------
This indicator estimates Bitcoin Block Height (Total Blocks) using Difficulty and Hash Rate in the most accurate way possible, since
QUANDL doesn't provide a direct source for Bitcoin Block Height (neither QUANDL:BCHAIN, nor QUANDL:BITCOINWATCH/MINING).
Bitcoin Block Height can be used in other calculations, for instance, to estimate the next date of Bitcoin Halving.
Using this indicator I demonstrate:
- that QUANDL data is not accurate and differ from Blockchain source data (industry standard), but still can be used in calculations
- how to plot a series of data points from an external csv source and compare it with another source
- how to accurately estimate Bitcoin Block Height
Features:
- compare QUANDL Difficulty source (EOD, D1) with external Blockchain Difficulty csv source (EOD, D1, embedded)
- show/hide Quandl/Blockchain Difficulty curves
- show/hide Blockchain Difficulty candles
- show/hide differences (aqua vertical lines)
- show/hide time gaps (green vertical lines)
- count source differences within data range only or for the whole history
- multiply both sources by alpha to match before comparing
- floor/round both matched sources when comparing
- Blockchain Difficulty offset to align sequences, bars > 0
- count time gaps and missing bars (as result of time gaps)
WARNING:
- This indicator hits the max 1000 vars limit, adding more plots/vars/data points is not possible
- Both QUANDL/Blockchain provide daily EOD data and must be plotted on a daily D1 chart otherwise results will be incorrect
- current chart must not have any time gaps inside the range (time gaps outside the range don't affect the calculation). Time gaps check is provided.
Otherwise hardcoded Blockchain series will be shifted forward on gaps and the whole sequence become truncated at the end => data comparison/total blocks estimate will be incorrect
Examples of valid charts that can run this indicator: COINBASE:BTCUSD,D1 (has 8 time gaps, 34 missing bars outside the range), QUANDL:BCHAIN/DIFF,D1 (has no gaps)
Usage:
- Description of output plot values from left to right:
- c_shifted - 4x blockchain plotcandles ohlc, green/black (default na)
- diff - QUANDL Difficulty
- c_shifted - Blockchain Difficulty with offset
- QUANDL Difficulty multiplied by alpha and rounded
- Blockchain Difficulty multiplied by alpha and rounded
- is_different, bool - cur bar's source values are different (1) or not (0)
- count, number of differences
- bars, total number of bars/data points in the range
- QUANDL daily blocks
- Blockchain daily blocks
- QUANDL total blocks
- Blockchain total blocks
- total_error - difference between total_blocks estimated using both sources as of cur bar, blocks
- number_of_gaps - number of time gaps on a chart
- missing_bars - number of missing bars as result of time gaps on a chart
- Color coding:
- Blue - QUANDL data
- Red - Blockchain data
- Black - Is Different
- Aqua - number of differences
- Green - number of time gaps
- by default the indicator will show lots of vertical aqua lines, 138 differences, 928 bars, total error -370 blocks
- to compare the best match of the 2 sources shift Blockchain source 1 bar into the future by setting Blockchain Difficulty offset = 1, leave alpha = 0.01 =>
this results in no vertical aqua lines, 0 differences, total_error = 0 blocks
if you move the mouse inside the range some bars will show total_error = 1 blocks => total_error <= 1 blocks
- now uncheck Round Difficulty Values flag => some filled aqua areas, 218 differences.
- now set alpha = 1 (use raw source values) instead of 0.01 => lots of filled aqua areas, 871 differences.
although there are many differences this still doesn't affect the total_blocks estimate provided Difficulty offset = 1
Methodology:
To estimate Bitcoin Block Height we need 3 steps, each step has its own version:
- Step 1: Compare QUANDL Difficulty vs Blockchain Difficulty sources and estimate error based on differences
- Step 2: Compare QUANDL Hash Rate vs Blockchain Hash Rate sources and estimate error based on differences
- Step 3: Estimate Bitcoin Block Height (Total Blocks) using different methods in the most accurate way possible
QUANDL doesn't provide block time data, but we can calculate it using the Hash Rate approximation formula:
estimated Hash rate/sec H = 2^32 * D / T, where D - Difficulty, T - block time, sec
1. block time (T) can be derived from the formula, since we already know Difficulty (D) and Hash Rate (H) from QUANDL
2. using block time (T) we can estimate daily blocks as daily time / block time
3. block height (total blocks) = cumulative sum of daily blocks of all bars on the chart (that's why having no gaps is important)
Notes:
- This code uses Pinescript v3 compatibility framework
- hash rate is in THash/s, although QUANDL falsely states in description GHash/s! THash = 1000 GHash
- you can't read files, can only embed/hardcode raw data in script
- both QUANDL and Blockchain sources have no gaps
- QUANDL and Blockchain series are different in the following ways:
- all QUANDL data is already shifted 1 bar into the future, i.e. prev day's value is shown as cur day's value => Blockchain data must be shifted 1 bar forward to match
- all QUANDL diff data > 1 bn (10^12) are truncated and have last 1-2 digits as zeros, unlike Blockchain data => must multiply both values by 0.01 and floor/round the results
- QUANDL sometimes rounds, other times truncates those 1-2 last zero digits to get the 3rd last digit => must use both floor/round
- you can only shift sequences forward into the future (right), not back into the past (left) using positive offset => only Blockchain source can be shifted
- since total_blocks is already a cumulative sum of all prev values on each bar, total_error must be simple delta, can't be also int(cum()) or incremental
- all Blockchain values and total_error are na outside the range - move you mouse cursor on the last bar/inside the range to see them
TLDR, ver 1.0 Conclusion:
QUANDL/Blockchain Difficulty source differences don't affect total blocks estimate, total error <= 1 block with avg 150 blocks/day is negligible
Both QUANDL/Blockchain Difficulty sources are equally valid and can be used in calculations. QUANDL is a relatively good stand in for Blockchain industry standard data.
Links:
QUANDL difficulty source: www.quandl.com
QUANDL hash rate source: www.quandl.com
Blockchain difficulty source (export data as csv): www.blockchain.com
Price Action and 3 EMAs Momentum plus Sessions FilterThis indicator plots on the chart the parameters and signals of the Price Action and 3 EMAs Momentum plus Sessions Filter Algorithmic Strategy. The strategy trades based on time-series (absolute) and relative momentum of price close, highs, lows and 3 EMAs.
I am still learning PS and therefore I have only been able to write the indicator up to the Signal generation. I plan to expand the indicator to Entry Signals as well as the full Strategy.
The strategy works best on EURUSD in the 15 minutes TF during London and New York sessions with 1 to 1 TP and SL of 30 pips with lots resulting in 3% risk of the account per trade. I have already written the full strategy in another language and platform and back tested it for ten years and it was profitable for 7 of the 10 years with average profit of 15% p.a which can be easily increased by increasing risk per trade. I have been trading it live in that platform for over two years and it is profitable.
Contributions from experienced PS coders in completing the Indicator as well as writing the Strategy and back testing it on Trading View will be appreciated.
STRATEGY AND INDICATOR PARAMETERS
Three periods of 12, 48 and 96 in the 15 min TF which are equivalent to 3, 12 and 24 hours i.e (15 min * period / 60 min) are the foundational inputs for all the parameters of the PA & 3 EMAs Momentum + SF Algo Strategy and its Indicator.
3 EMAs momentum parameters and conditions
• FastEMA = ema of 12 periods
• MedEMA = ema of 48 periods
• SlowEMA = ema of 96 periods
• All the EMAs analyse price close for up to 96 (15 min periods) equivalent to 24 hours
• There’s Upward EMA momentum if price close > FastEMA and FastEMA > MedEMA and MedEMA > SlowEMA
• There’s Downward EMA momentum if price close < FastEMA and FastEMA < MedEMA and MedEMA < SlowEMA
PA momentum parameters and conditions
• HH = Highest High of 48 periods from 1st closed bar before current bar
• LL = Lowest Low of 48 periods from 1st closed bar from current bar
• Previous HH = Highest High of 84 periods from 12th closed bar before current bar
• Previous LL = Lowest Low of 84 periods from 12th closed bar before current bar
• All the HH & LL and prevHH & prevLL are within the 96 periods from the 1st closed bar before current bar and therefore indicative of momentum during the past 24 hours
• There’s Upward PA momentum if price close > HH and HH > prevHH and LL > prevLL
• There’s Downward PA momentum if price close < LL and LL < prevLL and HH < prevHH
Signal conditions and Status (BuySignal, SellSignal or Neutral)
• The strategy generates Buy or Sell Signals if both 3 EMAs and PA momentum conditions are met for each direction and these occur during the London and New York sessions
• BuySignal if price close > FastEMA and FastEMA > MedEMA and MedEMA > SlowEMA and price close > HH and HH > prevHH and LL > prevLL and timeinrange (LDN&NY) else Neutral
• SellSignal if price close < FastEMA and FastEMA < MedEMA and MedEMA < SlowEMA and price close < LL and LL < prevLL and HH < prevHH and timeinrange (LDN&NY) else Neutral
Entry conditions and Status (EnterBuy, EnterSell or Neutral)(NOT CODED YET)
• ENTRY IS NOT AT THE SIGNAL BAR but at the current bar tick price retracement to FastEMA after the signal
• EnterBuy if current bar tick price <= FastEMA and current bar tick price > prevHH at the time of the Buy Signal
• EnterSell if current bar tick price >= FastEMA and current bar tick price > prevLL at the time of the Sell Signal
Volume Profile Free Pro (25 Levels Value Area VWAP) by RRBVolume Profile Free Pro by RagingRocketBull 2019
Version 1.0
All available Volume Profile Free Pro versions are listed below (They are very similar and I don't want to publish them as separate indicators):
ver 1.0: style columns implementation
ver 2.0: style histogram implementation
ver 3.0: style line implementation
This indicator calculates Volume Profile for a given range and shows it as a histogram consisting of 25 horizontal bars.
It can also show Point of Control (POC), Developing POC, Value Area/VWAP StdDev High/Low as dynamically moving levels.
Free accounts can't access Standard TradingView Volume Profile, hence this indicator.
There are 3 basic methods to calculate the Value Area for a session.
- original method developed by Steidlmayr (calculated around POC)
- classical method using StdDev (calculated around the mean VWAP)
- another method based on the mean absolute deviation (calculated around the median)
POC is a high volume node and can be used as support/resistance. But when far from the day's average price it may not be as good a trend filter as the other methods.
The 80% Rule: When the market opens above/below the Value Area and then returns/stays back inside for 2 consecutive 30min periods it has 80% chance of filling VA (like a gap).
There are several versions: Free, Free Pro, Free MAX. This is the Free Pro version. The Differences are listed below:
- Free: 30 levels, Buy/Sell/Total Volume Profile views, POC
- Free Pro: 25 levels, +Developing POC, Value Area/VWAP High/Low Levels, Above/Below Area Dimming
- Free MAX: 50 levels, packed to the limit
Features:
- Volume Profile with up to 25 levels (3 implementations)
- POC, Developing POC Levels
- Buy/Sell/Total/Side by Side View modes
- Side Cover
- Value Area, VAH/VAL dynamic levels
- VWAP High/Low dynamic levels with Source, Length, StdDev as params
- Show/Hide all levels
- Dim Non Value Area Zones
- Custom Range with Highlighting
- 3 Anchor points for Volume Profile
- Flip Levels Horizontally
- Adjustable width, offset and spacing of levels
- Custom Color for POC/VA/VWAP levels and Transparency for buy/sell levels
Usage:
- specify max_level/min_level for a range (required in ver 1.0/2.0, auto/optional in ver 3.0 = set to highest/lowest)
- select range (start_bar, range length), confirm with range highlighting
- select mode Value Area or VWAP to show corresponding levels.
- flip/select anchor point to position the buy/sell levels, adjust width and spacing as needed
- select Buy/Sell/Total/Side by Side view mode
- use POC/Developing POC/VA/VWAP High/Low as S/R levels. Usually daily values from 1-3 days back are used as levels for the current day.
- Green - buy volume of a specific price level in a range, Red - sell volume. Green + Red = Total volume of a price level in a range
There's no native support for vertical histograms in Pinescript (with price axis as base)
Basically, there are 4 ways to plot a series of horizontal bars stacked on top of each other:
1. plotshape style labeldown (ver 0 prototype discarded)
- you can have a set of fixed width/height text labels consisting of a series of underscores and moving dynamically as levels. Level offset controls visible length.
- you can move levels and scale the base width of the volume profile histogram dynamically
- you can calculate the highest/lowest range values automatically. max_level/min_level inputs are optional
- you can't fill the gaps between levels/adjust/extend width, height - this results in a half baked volume profile and looks ugly
- fixed text level height doesn't adjust and looks bad on a log scale
- fixed font width also doesn't scale and can't be properly aligned with bars when zooming
2. plot style columns + hist_base (ver 1.0)
- you can plot long horizontal bars using a series of small adjacent vertical columns with level offsets controlling visible length.
- you can't hide/move levels of the volume profile histogram dynamically on each bar, they must be plotted at all times regardless - you can't delete the history of a plot.
- you can't scale the base width of the volume profile histogram dynamically, can't set show_last from input, must use a preset fixed width for each level
- hist_base can only be a static const expression, can't be assigned highest/lowest range values automatically - you have to specify max_level/min_level manually from input
- you can't control spacing between columns - there's an equalizer bar effect when you zoom in, and solid bars when you zoom out
- using hist_base for levels results in ugly load/redraw times - give it 3-5 sec to finalize its shape after each UI param change
- level top can be properly aligned with another level's bottom producing a clean good looking histogram
- columns are properly aligned with bars automatically
3. plot style histogram + hist_base (ver 2.0)
- you can plot long horizontal bars using a series of small vertical bars (horizontal histogram) instead of columns.
- you can control the width of each histogram bar comprising a level (spacing/horiz density). Large enough width will cause bar overlapping and give level a "solid" look regardless of zoom
- you can only set width <= 4 in UI Style - custom textbox input is provided for larger values. You can set width and plot transparency from input
- this method still uses hist_base and inherits other limitations of ver 2.0
4. plot style lines (ver 3.0)
- you can also plot long horizontal bars using lines with level offsets controlling visible length.
- lines don't need hist_base - fast and smooth redraw times
- you can calculate the highest/lowest range values automatically. max_level/min_level inputs are optional
- level top can't be properly aligned with another level's bottom and have a proper spacing because line width uses its own units and doesn't scale
- fixed line width of a level (vertical thickness) doesn't scale and looks bad on log (level overlapping)
- you can only set width <= 4 in UI Style, a custom textbox input is provided for larger values. You can set width and plot transparency from input
Notes:
- hist_base for levels results in ugly load/redraw times - give it 3-5 sec to finalize its shape after each UI param change
- indicator is slow on TFs with long history 10000+ bars
- Volume Profile/Value Area are calculated for a given range and updated on each bar. Each level has a fixed width. Offsets control visible level parts. Side Cover hides the invisible parts.
- Custom Color for POC/VA/VWAP levels - UI Style color/transparency can only change shape's color and doesn't affect textcolor, hence this additional option
- Custom Widh for levels - UI Style supports only width <= 4, hence this additional option
- POC is visible in both modes. In VWAP mode Developing POC becomes VWAP, VA High and Low => VWAP High and Low correspondingly to minimize the number of plot outputs
- You can't change buy/sell level colors (only plot transparency) - this requires 2x plot outputs exceeding max 64 limit. That's why 2 additional plots are used to dim the non Value Area zones
- Use Side by Side view to compare buy and sell volumes between each other: base width = max(total_buy_vol, total_sell_vol)
- All buy/sell volume lengths are calculated as % of a fixed base width = 100 bars (100%). You can't set show_last from input
- Sell Offset is calculated relative to Buy Offset to stack/extend sell on top of buy. Buy Offset = Zero - Buy Length. Sell Offset = Buy Offset - Sell Length = Zero - Buy Length - Sell Length
- If you see "loop too long error" - change some values in UI and it will recalculate - no need to refresh the chart
- There's no such thing as buy/sell volume, there's just volume, but for the purposes of the Volume Profile method, assume: bull candle = buy volume, bear candle = sell volume
- Volume Profile Range is limited to 5000 bars for free accounts
P.S. Cantaloupia Will be Free!
Links on Volume Profile and Value Area calculation and usage:
www.tradingview.com
stockcharts.com
onlinelibrary.wiley.com
Complete Trend Trading System [Fhenry0331]This system was designed for the beginner trader to make money swing trading. Your losses will be small and your gains will be mostly large. You will show consistent profit. Period.
The system works on any security you like to trade. I used GBPUSD as an example because of the up swing and down swing it had recently. I tried to put as much information of how the system works in the chart. Hope it helps and is not to cluttered.
I will reiterate how the system works here: Everything is based off of closed price.
Legend
Uptrend: Buy
Green bar: initial start of an uptrend or uptrend continuing. Place order above that bar. If the initial bar does not stray too far from the MVWAP , I will place orders above subsequent bars if no filled occurred.
If initial start of the trend is missed, I will wait for the pullback. A pullback is a close below the MVWAP, and a close above the EMA (Low), RSI is above 50. Orders are placed above the pullback bars with plotted char "B" and also plotted green triangle up. Again orders are placed above those bars. the bars do not notate automatic buys. Don't chase anything. You will miss the initial bar on something because of news or earnings and it rocket up. Just wait, it will pullback. If it doesn't, to hell with it, on to the next.
Take profits: In the indicator you will see "T." That notates to take some profits. It is a suggestion. I was always told to take profits into spikes, as well as you can never lose money if you take profits. Up to you if you want to scale out and take the suggested profits or not.
Exit Completely: In an uptrend, close your entire position on bars colored yellow or red. (Again, closed bars)
In uptrend bars colored orange and black, do nothing, they are just pullback bars. Look for the buy pullback signal, then follow pullback buy rules for an uptrend.
Downtrend: Short
Red bar: initial start of a downtrend or downtrend continuing. Place order below the bar. If the initial bar does not stray too far fro the MVWAP, place orders below subsequent bars.
If initial start on the downtrend is missed, wait for the pullback. A pullback is a close above the MVWAP, and close below the EMA(Low). RSI is below 50. Orders are placed below the pullback bars with the plotted char "S" and also plotted red triangle. Again those bars are not automatic shorts, orders are placed below them. Don't chase anything. Wait for price to come into your plan. The idea FOMO is the stupidest thing ever, how can you miss out on something when it is always there. The market is always there and something will come into your zone. Chill.
"T": same as in uptrend, suggestion to take some profits.
Exit Completely: In a downtrend, close your entire position on bars colored orange or green.
In downtrend you will see bars colored yellow and black, do nothing, they are pullback bars. Look for the pullback short signal and follow pullback short rules.
If you have any questions get at me. Take a look at it on what you trade. Flip it through different securities.
Best of luck in all you do.
P.S. You should not take a trade right before earnings. You should also exit a trade right before earnings.
PivotBoss Outside Reversal SetupPATTERN SUMMARY
1. The engulfing bar of a bullish outside reversal setup has a low that is below the prior bar's low (L < L ) and a
close that is above the prior bar's high (C > H ).
2. The engulfing bar of a bearish outside reversal setup has a high that is above the prior bar's high (H > H )
and a close that is below the prior bar's low (C < L ).
3. The engulfing bar is usually 5 to 25 percent larger than the size of the average bar in the lookback period.
PATTERN PSYCHOLOGY
The power behind this pattern lies in the psychology behind the traders involved in this setup. If you have
ever participated in a breakout at support or resistance only to have the market reverse sharply against you, then
you are familiar with the market dynamics of this setup. What exactly is going on at these levels? To understand
this concept is to understand the outside reversal pattern. Basically, market participants are testing the waters
above resistance or below support to make sure there is no new business to be done at these levels. When no
initiative buyers or sellers participate in range extension, responsive participants have all the information they
need to reverse price back toward a new area of perceived value.
As you look at a bullish outside reversal pattern, you will notice that the current bar's low is lower than the
prior bar's low. Essentially, the market is testing the waters below recently established lows to see if a downside
follow-through will occur. When no additional selling pressure enters the market, the result is a flood of buying
pressure that causes a springboard effect, thereby shooting price above the prior bar's highs and creating the
beginning of a bullish advance.
If you recall the child on the trampoline for a moment, you'll realize that the child had to force the bounce
mat down before he could spring into the air. Also, remember Jennifer the cake baker? She initially pushed price
to $20 per cake, which sent a flood of orders into her shop. The flood of buying pressure eventually sent the price
of her cakes to $35 apiece. Basically, price had to test the $20 level before it could rise to $35.
Let's analyze the outside reversal setup in a different light for a moment. One of the reasons I like this setup
is because the two-bar pattern reduces into the wick reversal setup, which we covered earlier in the chapter. If
you are not familiar with candlestick reduction, the idea is simple. You are taking the price data over two or more
candlesticks and combining them to create a single candlestick. Therefore, you will be taking the open, high, low,
and close prices of the bars in question to create a single composite candlestick.
Take a look at Figure 2.13, which illustrates the candlestick reduction of the outside reversal setup.
Essentially, taking the highest high and the lowest low over the two-bar period gives you the range of the
composite candlestick. Then, taking the opening price of the first candle and the closing price of the last candle
will finish off the composite candlestick. Depending on the structure of the bars of the outside reversal setup, the
result of the candlestick reduction will usually be the transformation into a wick reversal setup, which we know to
be quite powerful. Therefore, in many cases the physiology of the outside reversal pattern basically demonstrates
the inherent psychological traits of the wick reversal pattern. This is just another level of analysis that reinforces
my belief in the outside reversal setup.
Relative Measured Volatility (RMV)RMV • Volume-Sensitive Consolidation Indicator
A lightweight Pine Script that highlights true low-volatility, low-volume bars in a single squeeze measure.
What it does
Calculates each bar’s raw High-Low range.
Down-weights bars where volume is below its 30-day average, emphasizing genuine quiet periods.
Normalizes the result over the prior 15 bars (excluding the current bar), scaling from 0 (tightest) to 100 (most volatile).
Draws the series as a step plot, shades true “tight” bars below the user threshold, and marks sustained squeezes with a small arrow.
Key inputs
Lookback (bars): Number of bars to use for normalization (default 15).
Tight Threshold: RMV value under which a bar is considered squeezed (default 15).
Volume SMA Period: Period for the volume moving average benchmark (default 30).
How it works
Raw range: barRange = high - low
Volume ratio: volRatio = min(volume / sma(volume,30), 1)
Weighted range: vwRange = barRange * volRatio
Rolling min/max (prior 15 bars): exclude today so a new low immediately registers a 0.
Normalize: rmv = clamp(100 * (vwRange - min) / (max - min), 0, 100)
Visualization & signals
Step line for exact bar-by-bar values.
Shaded background when RMV < threshold.
Consecutive-bar filter ensures arrows only appear when tightness lasts at least two bars, cutting noise.
Why use it
Quickly spot consolidation zones that combine narrow price action with genuine dry volume—ideal for swing entries ahead of breakouts.
BK AK-SILENCER🚨 Introducing BK AK-SILENCER — Volume Footprint Warfare, Right on the Price Bars 🚨
This isn’t a traditional indicator.
This is a tactical weapon — engineered to expose institutional behavior directly in the bar data, using volume logic, CVD divergence, and spike detection to pinpoint who’s really in control of the tape.
No panels. No clutter.
Just silent execution — built directly into price itself.
🔥 Why "SILENCER"?
Because real power moves in silence.
Institutions don’t chase — they build positions quietly, in size, beneath the surface.
BK AK-SILENCER gives you a real-time edge by visually revealing their footprints through color-coded bar behavior, divergence signals, and volume spike alerts — all directly on your chart.
🔹 “AK” honors my mentor A.K., whose training forged my trading discipline.
🔹 “SILENCER” represents the institutional mindset — high impact, low visibility. This tool lets you trade like them: without noise, without hesitation, with deadly clarity.
🧠 What Is BK AK-SILENCER?
A bar-level institutional detection tool, purpose-built to:
✅ Color-code bars based on volume aggression and close-location inside range
✅ Detect real-time bullish and bearish divergences between price and volume delta
✅ Tag volume spikes with a $ symbol to expose potential traps or silent position builds
✅ Overlay VWAP for real-time mean-reversion biasing
No extra windows.
No indicators talking over each other.
Just pure volume-logic weaponry embedded into price.
⚙️ What This Weapon Deploys
🔸 Bar Coloring Logic (Volume Footprint)
🟢 Power Buy = Strong close near highs on elevated volume
🟩 Accumulation = Weak close but still heavy volume
🔴 Power Sell = Strong close near lows on heavy selling
🟥 Distribution / Weakness = Low close without commitment
❗ Extreme Volume Spikes marked with $ — using standard deviation to highlight institutional bursts
🔸 CVD Divergence Detection
→ Tracks cumulative volume delta and compares it to price pivot behavior
Bullish Divergence = Price makes lower lows, CVD makes higher lows → hidden accumulation
Bearish Divergence = Price makes higher highs, CVD makes lower highs → hidden distribution
All plotted directly on bars with triangle markers.
🔸 VWAP Overlay (Optional)
→ Anchored VWAP gives immediate context for intraday bias — above VWAP = demand, below = supply
🎯 How to Use BK AK-SILENCER
🔹 Silent Reversal Detection
Bullish divergence + Power Buy bar + VWAP reclaim = sniper entry
Bearish divergence + Power Sell bar + VWAP rejection = trap confirmation
🔹 Volume-Based Entry Triggers
Look for Power Buy + $ spike after a pullback → watch for quiet reversal
Accumulation colors clustering? Institutions are likely loading silently
🔹 Institutional Trap Warnings
$ spike + red distribution bar at highs = time to exit or flip
Weakness bar below VWAP? Don’t chase the long.
🛡️ Why It Matters
✅ Clean — it integrates into price action, no separate panels
✅ Silent — tracks institutions who build without alerts or indicators
✅ Tactical — no fluff, no lag, just real-time behavior recognition
This tool is ideal for:
🔸 Scalpers reading bar-by-bar
🔸 Intraday swing traders using VWAP and structure
🔸 Professionals who need volume behavior decoded in real-time
🔸 Anyone who wants signal without clutter
🙏 Final Thoughts
This tool isn’t just about trading — it’s about tactical awareness.
🔹 Dedicated to my mentor A.K., whose wisdom runs deep in every logic tree.
🔹 Above all, I give thanks to Gd, the source of clarity, courage, and conviction.
Without Him, even the sharpest system is blind.
With Him, we execute with structure, purpose, and divine alignment.
⚡ No noise. No clutter. No delay. Just raw, silent execution.
🔥 BK AK-SILENCER — Bar-Level Volume Footprint Precision 🔥
Gd bless every step you take in this market.
Trade with clarity, move with intention. 🙏
Multi-Anchored Linear Regression Channels [TANHEF]█ Overview:
The 'Multi-Anchored Linear Regression Channels ' plots multiple dynamic regression channels (or bands) with unique selectable calculation types for both regression and deviation. It leverages a variety of techniques, customizable anchor sources to determine regression lengths, and user-defined criteria to highlight potential opportunities.
Before getting started, it's worth exploring all sections, but make sure to review the Setup & Configuration section in particular. It covers key parameters like anchor type, regression length, bias, and signal criteria—essential for aligning the tool with your trading strategy.
█ Key Features:
⯁ Multi-Regression Capability:
Plot up to three distinct regression channels and/or bands simultaneously, each with customizable anchor types to define their length.
⯁ Regression & Deviation Methods:
Regressions Types:
Standard: Uses ordinary least squares to compute a simple linear trend by averaging the data and deriving a slope and endpoints over the lookback period.
Ridge: Introduces L2 regularization to stabilize the slope by penalizing large coefficients, which helps mitigate multicollinearity in the data.
Lasso: Uses L1 regularization through soft-thresholding to shrink less important coefficients, yielding a simpler model that highlights key trends.
Elastic Net: Combines L1 and L2 penalties to balance coefficient shrinkage and selection, producing a robust weighted slope that handles redundant predictors.
Huber: Implements the Huber loss with iteratively reweighted least squares (IRLS) and EMA-style weights to reduce the impact of outliers while estimating the slope.
Least Absolute Deviations (LAD): Reduces absolute errors using iteratively reweighted least squares (IRLS), yielding a slope less sensitive to outliers than squared-error methods.
Bayesian Linear: Merges prior beliefs with weighted data through Bayesian updating, balancing the prior slope with data evidence to derive a probabilistic trend.
Deviation Types:
Regressive Linear (Reverse): In reverse order (recent to oldest), compute weighted squared differences between the data and a line defined by a starting value and slope.
Progressive Linear (Forward): In forward order (oldest to recent), compute weighted squared differences between the data and a line defined by a starting value and slope.
Balanced Linear: In forward order (oldest to newest), compute regression, then pair to source data in reverse order (newest to oldest) to compute weighted squared differences.
Mean Absolute: Compute weighted absolute differences between each data point and its regression line value, then aggregate them to yield an average deviation.
Median Absolute: Determine the weighted median of the absolute differences between each data point and its regression line value to capture the central tendency of deviations.
Percent: Compute deviation as a percentage of a base value by multiplying that base by the specified percentage, yielding symmetric positive and negative deviations.
Fitted: Compare a regression line with high and low series values by computing weighted differences to determine the maximum upward and downward deviations.
Average True Range: Iteratively compute the weighted average of absolute differences between the data and its regression line to yield an ATR-style deviation measure.
Bias:
Bias: Applies EMA or inverse-EMA style weighting to both Regression and/or Deviation, emphasizing either recent or older data.
⯁ Customizable Regression Length via Anchors:
Anchor Types:
Fixed: Length.
Bar-Based: Bar Highest/Lowest, Volume Highest/Lowest, Spread Highest/Lowest.
Correlation: R Zero, R Highest, R Lowest, R Absolute.
Slope: Slope Zero, Slope Highest, Slope Lowest, Slope Absolute.
Indicator-Based: Indicators Highest/Lowest (ADX, ATR, BBW, CCI, MACD, RSI, Stoch).
Time-Based: Time (Day, Week, Month, Quarter, Year, Decade, Custom).
Session-Based: Session (Tokyo, London, New York, Sydney, Custom).
Event-Based: Earnings, Dividends, Splits.
External: Input Source Highest/Lowest.
Length Selection:
Maximum: The highest allowed regression length (also fixed value of “Length” anchor).
Minimum: The shortest allowed length, ensuring enough bars for a valid regression.
Step: The sampling interval (e.g., 1 checks every bar, 2 checks every other bar, etc.). Increasing the step reduces the loading time, most applicable to “Slope” and “R” anchors.
Adaptive lookback:
Adaptive Lookback: Enable to display regression regardless of too few historical bars.
⯁ Selecting Bias:
Bias applies separately to regression and deviation.
Positive values emphasize recent data (EMA-style), negative invert, and near-zero maintains balance. (e.g., a length 100, bias +1 gives the newest price ~7× more weight than the oldest).
It's best to apply bias to both (regression and deviation) or just the deviation. Biasing only regression may distort deviation visually, while biasing both keeps their relationship intuitive. Using bias only for deviation scales it without altering regression, offering unique analysis.
⯁ Scale Awareness:
Supports linear and logarithmic price scaling, the regression and deviations adjust accordingly.
⯁ Signal Generation & Alerts:
Customizable entry/exit signals and alerts, detailed in the dedicated section below.
⯁ Visual Enhancements & Real-World Examples:
Optional on-chart table display summarizing regression input criteria (display type, anchor type, source, regression type, regression bias, deviation type, deviation bias, deviation multiplier) and key calculated metrics (regression length, slope, Pearson’s R, percentage position within deviations, etc.) for quick reference.
█ Understanding R (Pearson Correlation Coefficient):
Pearson’s R gauges data alignment to a straight-line trend within the regression length:
Range: R varies between –1 and +1.
R = +1 → Perfect positive correlation (strong uptrend).
R = 0 → No linear relationship detected.
R = –1 → Perfect negative correlation (strong downtrend).
This script uses Pearson’s R as an anchor, adjusting regression length to target specific R traits. Strong R (±1) follows the regression channel, while weak R (0) shows inconsistency.
█ Understanding the Slope:
The slope is the direction and rate at which the regression line rises or falls per bar:
Positive Slope (>0): Uptrend – Steeper means faster increase.
Negative Slope (<0): Downtrend – Steeper means sharper drop.
Zero or Near-Zero Slope: Sideways – Indicating range-bound conditions.
This script uses highest and lowest slope as an anchor, where extremes highlight strong moves and trend lines, while values near zero indicate sideways action and possible support/resistance.
█ Setup & Configuration:
Whether you’re new to this script or want to quickly adjust all critical parameters, the panel below shows the main settings available. You can customize everything from the anchor type and maximum length to the bias, signal conditions, and more.
Scale (select Log Scale for logarithmic, otherwise linear scale).
Display (regression channel and/or bands).
Anchor (how regression length is determined).
Length (control bars analyzed):
• Max – Upper limit.
• Min – Prevents regression from becoming too short.
• Step – Controls scanning precision; increasing Step reduces load time.
Regression:
• Type – Calculation method.
• Bias – EMA-style emphasis (>0=new bars weighted more; <0=old bars weighted more).
Deviation:
• Type – Calculation method.
• Bias – EMA-style emphasis (>0=new bars weighted more; <0=old bars weighted more).
• Multiplier - Adjusts Upper and Lower Deviation.
Signal Criteria:
• % (Price vs Deviation) – (0% = lower deviation, 50% = regression, 100% = upper deviation).
• R – (0 = no correlation, ±1 = perfect correlation; >0 = +slope, <0 = -slope).
Table (analyze table of input settings, calculated results, and signal criteria).
Adaptive Lookback (display regression while too few historical bars).
Multiple Regressions (steps 2 to 7 apply to #1, #2, and #3 regressions).
█ Signal Generation & Alerts:
The script offers customizable entry and exit signals with flexible criteria and visual cues (background color, dots, or triangles). Alerts can also be triggered for these opportunities.
Percent Direction Criteria:
(0% = lower deviation, 50% = regression line, 100% = upper deviation)
Above %: Triggers if price is above a specified percent of the deviation channel.
Below %: Triggers if price is below a specified percent of the deviation channel.
(Blank): Ignores the percent‐based condition.
Pearson's R (Correlation) Direction Criteria:
(0 = no correlation, ±1 = perfect correlation; >0 = positive slope, <0 = negative slope)
Above R / Below R: Compares the correlation to a threshold.
Above│R│ / Below│R│: Uses absolute correlation to focus on strength, ignoring direction.
Zero to R: Checks if R is in the 0-to-threshold range.
(Blank): Ignores correlation-based conditions.
█ User Tips & Best Practices:
Choose an anchor type that suits your strategy, “Bar Highest/Lowest” automatically spots commonly used regression zones, while “│R│ Highest” targets strong linear trends.
Consider enabling or disabling the Adaptive Lookback feature to ensure you always have a plotted regression if your chart doesn’t meet the maximum-length requirement.
Use a small Step size (1) unless relying on R-correlation or slope-based anchors as the are time-consuming to calculate. Larger steps speed up calculations but reduce precision.
Fine-tune settings such as lookback periods, regression bias, and deviation multipliers, or trend strength. Small adjustments can significantly affect how channels and signals behave.
To reduce loading time , show only channels (not bands) and disable signals, this limits calculations to the last bar and supports more extreme criteria.
Use the table display to monitor anchor type, calculated length, slope, R value, and percent location at a glance—especially if you have multiple regressions visible simultaneously.
█ Conclusion:
With its blend of advanced regression techniques, flexible deviation options, and a wide range of anchor types, this indicator offers a highly adaptable linear regression channeling system. Whether you're anchoring to time, price extremes, correlation, slope, or external events, the tool can be shaped to fit a variety of strategies. Combined with customizable signals and alerts, it may help highlight areas of confluence and support a more structured approach to identifying potential opportunities.
Nef33-Volume Footprint ApproximationDescription of the "Volume Footprint Approximation" Indicator
Purpose
The "Volume Footprint Approximation" indicator is a tool designed to assist traders in analyzing market volume dynamics and anticipating potential trend changes in price. It is inspired by the concept of a volume footprint chart, which visualizes the distribution of trading volume across different price levels. However, since TradingView does not provide detailed intrabar data for all users, this indicator approximates the behavior of a footprint chart by using available volume and price data (open, close, volume) to classify volume as buy or sell, calculate volume delta, detect imbalances, and generate trend change signals.
The indicator is particularly useful for identifying areas of high buying or selling activity, imbalances between supply and demand, delta divergences, and potential reversal points in the market. It provides specific signals for bullish and bearish trend changes, making it suitable for traders looking to trade reversals or confirm trends.
How It Works
The indicator uses volume and price data from each candlestick to perform the following calculations:
Volume Classification:
Classifies the volume of each candlestick as "buy" or "sell" based on price movement:
If the closing price is higher than the opening price (close > open), the volume is classified as "buy."
If the closing price is lower than the opening price (close < open), the volume is classified as "sell."
If the closing price equals the opening price (close == open), it compares with the previous close to determine the direction:
If the current close is higher than the previous close, it is classified as "buy."
If the current close is lower than the previous close, it is classified as "sell."
If the current close equals the previous close, the classification from the previous bar is used.
Delta Calculation:
Calculates the volume delta as the difference between buy volume and sell volume (buyVolume - sellVolume).
A positive delta indicates more buy volume; a negative delta indicates more sell volume.
Imbalance Detection:
Identifies imbalances between buy and sell volume:
A buy imbalance occurs when buy volume exceeds sell volume by a defined percentage (default is 300%).
A sell imbalance occurs when sell volume exceeds buy volume by the same percentage.
Delta Divergence Detection:
Positive Delta Divergence: Occurs when the price is falling (for at least 2 bars) but the delta is increasing or becomes positive, indicating that buyers are entering despite the price decline.
Negative Delta Divergence: Occurs when the price is rising (for at least 2 bars) but the delta is decreasing or becomes negative, indicating that sellers are entering despite the price increase.
Trend Change Signals:
Bullish Signal (trendChangeBullish): Generated when the following conditions are met:
There is a positive delta divergence.
The delta has moved from a negative value (e.g., -500) to a positive value (e.g., +200) over the last 3 bars.
There is a buy imbalance.
The price is near a historical support level (approximated as the lowest low of the last 50 bars).
Bearish Signal (trendChangeBearish): Generated when the following conditions are met:
There is a negative delta divergence.
The delta has moved from a positive value (e.g., +500) to a negative value (e.g., -200) over the last 3 bars.
There is a sell imbalance.
The price is near a historical resistance level (approximated as the highest high of the last 50 bars).
Visual Elements
The indicator is displayed in a separate panel below the price chart (overlay=false) and includes the following elements:
Volume Histograms:
Buy Volume: Represented by a green histogram. Shows the volume classified as "buy."
Sell Volume: Represented by a red histogram. Shows the volume classified as "sell."
Note: The histograms overlap, and the last plotted histogram (red) takes visual precedence, meaning the sell volume may cover the buy volume if it is larger.
Delta Line:
Delta Volume: Represented by a blue line. Shows the difference between buy and sell volume.
A line above zero indicates more buy volume; a line below zero indicates more sell volume.
A dashed gray horizontal line marks the zero level for easier interpretation.
Imbalance Backgrounds:
Buy Imbalance: Light green background when buy volume exceeds sell volume by the defined percentage.
Sell Imbalance: Light red background when sell volume exceeds buy volume by the defined percentage.
Divergence Backgrounds:
Positive Delta Divergence: Lime green background when a positive delta divergence is detected.
Negative Delta Divergence: Fuchsia background when a negative delta divergence is detected.
Trend Change Signals:
Bullish Signal: Green label with the text "Bullish Trend Change" when the conditions for a bullish trend change are met.
Bearish Signal: Red label with the text "Bearish Trend Change" when the conditions for a bearish trend change are met.
Information Labels:
Below each bar, a label displays:
Total Vol: The total volume of the bar.
Delta: The delta volume value.
Alerts
The indicator generates the following alerts:
Positive Delta Divergence: "Positive Delta Divergence Detected! Price is falling, but delta is increasing."
Negative Delta Divergence: "Negative Delta Divergence Detected! Price is rising, but delta is decreasing."
Bullish Trend Change Signal: "Bullish Trend Change Signal! Positive Delta Divergence, Delta Rise, Buy Imbalance, and Near Support."
Bearish Trend Change Signal: "Bearish Trend Change Signal! Negative Delta Divergence, Delta Drop, Sell Imbalance, and Near Resistance."
These alerts can be configured in TradingView to receive real-time notifications.
Adjustable Parameters
The indicator allows customization of the following parameters:
Imbalance Threshold (%): The percentage required to detect an imbalance between buy and sell volume (default is 300%).
Lookback Period for Divergence: Number of bars to look back for detecting price and delta trends (default is 2 bars).
Support/Resistance Lookback Period: Number of bars to look back for identifying historical support and resistance levels (default is 50 bars).
Delta High Threshold (Bearish): Minimum delta value 2 bars ago for the bearish signal (default is +500).
Delta Low Threshold (Bearish): Maximum delta value in the current bar for the bearish signal (default is -200).
Delta Low Threshold (Bullish): Maximum delta value 2 bars ago for the bullish signal (default is -500).
Delta High Threshold (Bullish): Minimum delta value in the current bar for the bullish signal (default is +200).
Practical Use
The indicator is useful for the following purposes:
Identifying Trend Changes:
The trend change signals (trendChangeBullish and trendChangeBearish) indicate potential price reversals. For example, a bullish signal near a support level may be an opportunity to enter a long position.
Detecting Divergences:
Delta divergences (positive and negative) can anticipate trend changes by showing a disagreement between price movement and underlying buying/selling pressure.
Finding Key Levels:
Imbalances (green and red backgrounds) often coincide with support and resistance levels, helping to identify areas where the market might react.
Confirming Trends:
A consistently positive delta in an uptrend or a negative delta in a downtrend can confirm the strength of the trend.
Identifying Failed Auctions:
Although not detected automatically, you can manually identify failed auctions by observing a price move to new highs/lows with decreasing volume in the direction of the move.
Limitations
Intrabar Data: It does not use detailed intrabar data, making it less precise than a native footprint chart.
Approximations: Volume classification and support/resistance detection are approximations, which may lead to false signals.
Volume Dependency: It requires reliable volume data, so it may be less effective on assets with inaccurate volume data (e.g., some forex pairs).
False Signals: Divergences and imbalances do not always indicate a trend change, especially in strongly trending markets.
Recommendations
Combine with Other Indicators: Use tools like RSI, MACD, support/resistance levels, or candlestick patterns to confirm signals.
Trade on Higher Timeframes: Signals are more reliable on higher timeframes like 1-hour or 4-hour charts.
Perform Backtesting: Evaluate the indicator's accuracy on historical data to adjust parameters and improve effectiveness.
Adjust Parameters: Modify thresholds (e.g., imbalanceThreshold or supportResistanceLookback) based on the asset and timeframe you are trading.
Conclusion
The "Volume Footprint Approximation" indicator is a powerful tool for analyzing volume dynamics and anticipating price trend changes. By classifying volume, calculating delta, detecting imbalances and divergences, and generating trend change signals, it provides traders with valuable insights into market buying and selling pressure. While it has limitations due to the lack of intrabar data, it can be highly effective when used in combination with other technical analysis tools and on assets with reliable volume data.
Volume Width Based Candles
Overview
This indicator reimagines traditional candlestick charts by adjusting the horizontal width of each candle based on the bar’s trading volume. In other words, candles with higher volume appear wider, while those with lower volume are drawn narrower. This extra visual dimension can help traders quickly identify bars with significant volume relative to a defined lookback period.
Key Components
Volume Normalization:
The script calculates the highest volume over a user-defined lookback period (default is 100 bars).
Each bar’s volume is then normalized by dividing it by this maximum value. The result is a value between 0 and 1 that represents how the current volume compares to the maximum over the lookback.
Variable Candle Width Calculation:
A base multiplier (default set to 0.4) is used to control how much the volume influences the candle width.
The normalized volume is multiplied by this multiplier to compute an offset value.
Instead of using timestamps (which could lead to drawing objects too far into the future), the script uses the bar_index (the sequential index of bars) to determine the left and right positions of each candle.
The left and right x–positions are calculated by subtracting and adding the offset from the current bar index, respectively.
Candle Body & Wick Drawing:
Candle Body:
The body is drawn using box.new as a rectangle.
The top and bottom of the box are determined by the higher and lower values of the open and close prices.
The color of the candle is set based on whether the bar is bullish (green) or bearish (red).
Wicks:
The upper wick is drawn from the high of the bar down to the top of the body.
The lower wick is drawn from the low up to the bottom of the body.
These are created using line.new at the current bar index.
Handling Edge Cases:
The indicator includes conditions to avoid drawing errors on the very first bar (or any bar where prior data is unavailable).
It also converts the calculated x–coordinates (which are derived from the bar index plus a floating point offset) to integers since box.new requires integer values for positioning.
What It Tells the Trader
Volume Visualization:
Wider candles indicate bars where trading volume is high relative to recent history, potentially highlighting periods of increased market activity.
Narrower candles suggest lower volume, which can signal less interest or participation during that bar.
Contextual Price Action:
By integrating volume into the visual representation of each candle, traders get an immediate sense of the strength behind price movements.
This can be particularly useful for spotting potential breakouts, reversals, or confirming trends when analyzed alongside traditional price-based indicators.
Customization Options
Volume Lookback Period:
You can adjust the number of bars considered when determining the maximum volume. A shorter period may be more responsive to recent changes, while a longer period provides a broader context.
Base Width Multiplier:
Adjusting this multiplier changes how pronounced the effect of volume is on the candle’s width. Increasing it will make high-volume candles even wider, and decreasing it will reduce the difference between high and low volume candles.
Final Thoughts
This indicator is a creative way to overlay volume information directly onto the price chart without the need for separate volume bars. It provides an at-a-glance understanding of market activity and can be a valuable addition to a trader’s toolkit, especially for those who prefer visual cues integrated with price action. However, due to limitations (like the maximum number of drawn boxes), it’s best used on charts with a moderate amount of historical data or with appropriate adjustments to manage performance.
IB & Hammer at SMA(20,50|200)IB & Hammer at SMA (20, 50, 200) Breakout/Breakdown Indicator
Overview:
The IB (Inside Bar) & Hammer at SMA Breakout/Breakdown Indicator is designed to identify breakout and breakdown opportunities using Inside Bars (IB) in combination with Simple Moving Averages (SMA 20, 50, 200) as key trend filters. This indicator is useful for traders looking to catch momentum moves after consolidation phases, confirming the trend direction with moving averages.
Indicator Logic:
Inside Bar (IB) Detection:
An Inside Bar is a candlestick that is completely within the range of the previous candle (i.e., lower high and higher low).
Inside Bars indicate consolidation, suggesting a potential breakout.
SMA Trend Confirmation:
The script uses three moving averages (SMA 20, 50, 200) to determine the trend direction.
Bullish trend: Price is above the 50 & 200 SMAs.
Bearish trend: Price is below the 50 & 200 SMAs.
The 20 SMA is used as a dynamic short-term momentum filter.
Breakout & Breakdown Conditions:
Breakout: When price breaks above the Inside Bar’s high, and the trend is bullish (above key SMAs).
Breakdown: When price breaks below the Inside Bar’s low, and the trend is bearish (below key SMAs).
Alerts can be set to notify traders of potential trade opportunities.
Features:
✅ Identifies Inside Bars (consolidation zones).
✅ Uses SMA (20, 50, 200) for trend confirmation.
✅ Breakout/Breakdown signals based on Inside Bar structure.
✅ Customizable Moving Averages & Alerts.
✅ Visual markers for easy trade identification.
How to Use:
Confirm Trend Direction:
If the price is above SMA 50 & 200, look for breakout trades.
If the price is below SMA 50 & 200, look for breakdown trades.
Watch for Inside Bars:
The script highlights Inside Bars with a specific color (configurable).
These bars indicate a low-volatility phase, preparing for a breakout.
Trade on Breakout/Breakdown:
Breakout: Enter long when the price breaks above the Inside Bar’s high (bullish trend).
Breakdown: Enter short when the price breaks below the Inside Bar’s low (bearish trend).
Uptrick: FRAMA Matrix RSIUptrick: FRAMA Matrix RSI
Introduction
The Uptrick: FRAMA Matrix RSI is a momentum-based indicator that integrates the Relative Strength Index (RSI) with the Fractal Adaptive Moving Average (FRAMA). By applying FRAMA's adaptive smoothing to RSI—and further refining it with a Zero-Lag Moving Average (ZLMA)—this script creates a refined and reliable momentum oscillator. The indicator now includes enhanced divergence detection, potential reversal signals, customizable buy/sell signal options, an internal stats table, and a fully customizable bar coloring system for an enhanced visual trading experience.
Why Combine RSI with FRAMA
Traditional RSI is a well-known momentum indicator but has several limitations. It is highly sensitive to price fluctuations, often generating false signals in choppy or volatile markets. FRAMA, in contrast, adapts dynamically to price changes by adjusting its smoothing factor based on market conditions.
By integrating FRAMA into RSI calculations, this indicator reduces noise while preserving RSI's ability to track momentum, adapts to volatility by reducing lag in trending markets and smoothing out choppiness in ranging conditions, enhances trend-following capability for more reliable momentum shifts, and refines overbought and oversold signals by adjusting to the current market structure.
With the new enhancements, such as a manual alpha input, noise filtering, divergence detection, and multiple buy/sell signal options, the indicator offers even greater flexibility and precision for traders. This combination improves the standard RSI by making it more adaptive and responsive to market changes.
Originality
This indicator is unique because it applies FRAMA's adaptive smoothing technique to RSI, creating a dynamic momentum oscillator that adjusts to different market conditions. Many traditional RSI-based indicators either use fixed smoothing methods like exponential moving averages or employ basic RSI calculations without adjusting for volatility.
This script stands out by integrating several elements, including the fractal dimension-based smoothing of FRAMA to reduce noise while retaining responsiveness, the use of Zero-Lag Moving Average smoothing to enhance trend sensitivity and reduce lag, divergence detection to highlight mismatches between price action and RSI momentum, a noise filter and manual alpha option to prevent minor fluctuations from generating false signals, customizable buy/sell signal options that let traders choose between ZLMA-based or FRAMA RSI-based signals, an internal stats table displaying real-time FRAMA calculations such as fractal dimension and the adaptive alpha factor, and a fully customizable bar coloring system to visually distinguish bullish, bearish, and neutral conditions.
Features
Adaptive FRAMA RSI
The indicator applies FRAMA to RSI values, making the momentum oscillator adaptive to volatility while filtering out noise. Unlike a traditional RSI that reacts equally to all price movements, FRAMA RSI adjusts its smoothing factor based on market structure, making it more effective for identifying true momentum shifts.
Zero-Lag Moving Average (ZLMA)
A smoothing technique that minimizes lag while preserving the responsiveness of price movements. It is applied to the FRAMA RSI to further refine signals and ensure smoother trend detection.
Bullish and Bearish Threshold Crossovers
This system compares FRAMA RSI to a user-defined threshold (default is 50). When FRAMA RSI moves above the threshold, it indicates bullish momentum, while movement below signals bearish conditions. The enhanced noise filter ensures that only significant moves trigger signals.
Noise Filter and Manual Alpha
A new noise filter input prevents tiny fluctuations from triggering false signals. In addition, a manual alpha option allows traders to override the automatically computed smoothing factor with a custom value, providing extra control over the indicator’s sensitivity.
Divergence Detection
The indicator identifies divergence patterns by comparing FRAMA RSI pivots to price action. Bullish divergence occurs when price makes a lower low while FRAMA RSI makes a higher low, and bearish divergence occurs when price makes a higher high while FRAMA RSI makes a lower high. These signals can help traders anticipate potential reversals.
Reversal Signals
Labels appear on the chart when FRAMA RSI confirms classic RSI overbought (70) or oversold (30) conditions, providing visual cues for potential trend reversals.
Buy and Sell Signal Options
Traders can now choose between two signal-generation methods. ZLMA-based signals trigger when the ZLMA of FRAMA RSI crosses key overbought (70) or oversold (30) levels, while FRAMA RSI-based signals trigger when FRAMA RSI itself crosses these levels. This added flexibility allows users to tailor the indicator to their preferred trading style.
ZLMA:
FRAMA:
Customizable Alerts
Alerts notify traders when FRAMA RSI crosses key levels, divergence signals occur, reversal conditions are met, or buy/sell signals trigger. This ensures that important trading events are not missed.
Fully Customizable Bar Coloring System
Users can color bars based on different conditions, enhancing visual clarity. Bar coloring modes include: FRAMA RSI threshold (bars change color based on whether FRAMA RSI is above or below the threshold), ZLMA crossover (bars change when ZLMA crosses overbought or oversold levels), buy/sell signals (bars change when official signals trigger), divergence (bars highlight when bullish or bearish divergence is detected), and reversals (bars indicate when RSI reaches overbought or oversold conditions confirmed by FRAMA RSI). The system also remembers the last applied bar color, ensuring a smooth visual transition.
Input Parameters and Features
Core Inputs
RSI Length (default: 14) defines the period for RSI calculations.
FRAMA Lookback (default: 16) determines the length for the FRAMA smoothing function.
RSI Bull Threshold (default: 50) sets the level above which the market is considered bullish and below which it is bearish.
Noise Filter (default: 1.0) ensures that small fluctuations do not trigger false bullish or bearish signals.
Additional Features
Show Bull and Bear Alerts (default: true) enables notifications when FRAMA RSI crosses the threshold.
Enable Divergence Detection (default: false) highlights bullish and bearish divergences based on price and FRAMA RSI pivots.
Show Potential Reversal Signals (default: false) identifies overbought (70) and oversold (30) levels as possible trend reversal points.
Buy and Sell Signal Option (default: ZLMA) allows traders to choose between ZLMA-based signals or FRAMA RSI-based signals for trade entry.
ZLMA Enhancements
ZLMA Length (default: 14) determines the period for the Zero-Lag Moving Average applied to FRAMA RSI.
Visualization Options
Show Internal Stats Table (default: false) displays real-time FRAMA calculations, including fractal dimension and the adaptive alpha smoothing factor.
Show Threshold FRAMA Signals (default: false) plots buy and sell labels when FRAMA RSI crosses the threshold level.
How It Works
FRAMA Calculation
FRAMA dynamically adjusts smoothing based on the price fractal dimension. The alpha smoothing factor is derived from the fractal dimension or can be set manually to maintain responsiveness.
RSI with FRAMA Smoothing
RSI is calculated using the user-defined lookback period. FRAMA is then applied to the RSI to make it more adaptive to volatility. Optionally, ZLMA is applied to further refine the signals and reduce lag.
Bullish and Bearish Threshold Crosses
A bullish condition occurs when FRAMA RSI crosses above the threshold, while a bearish condition occurs when it falls below. The noise filter ensures that only significant trend shifts generate signals.
Buy and Sell Signal Options
Traders can choose between ZLMA crossovers or FRAMA RSI crossovers as the basis for buy and sell signals, offering flexibility in trade entry timing.
Divergence Detection
The indicator identifies divergences where price action and FRAMA RSI momentum do not align, potentially signaling upcoming reversals.
Reversal Signal Labels
When classic RSI overbought or oversold levels are confirmed by FRAMA RSI conditions, reversal labels are added on the chart to highlight potential exhaustion points.
Bar Coloring System
Bars are dynamically colored based on various conditions such as RSI thresholds, ZLMA crossovers, buy/sell signals, divergence, and reversals, allowing traders to quickly interpret market sentiment.
Alerts and Internal Stats
Customizable alerts notify traders of key events, and an optional internal stats table displays real-time calculations (fractal dimension, alpha value, and RSI values) to help users understand the underlying dynamics of the indicator.
Summary
The Uptrick: FRAMA Matrix RSI offers an enhanced approach to momentum analysis by combining RSI with adaptive FRAMA smoothing and additional layers of signal refinement. The indicator now includes adaptive RSI smoothing to reduce noise and improve responsiveness, Zero-Lag Moving Average filtering to minimize lag, divergence and reversal detection to identify potential turning points, customizable buy/sell signal options that let traders choose between different signal methodologies, a fully customizable bar coloring system to visually distinguish market conditions, and an internal stats table for real-time insight into FRAMA calculation parameters.
Whether used for trend confirmation, divergence detection, or momentum-based strategies, this indicator provides a powerful and adaptive approach to trading.
Disclaimer
This script is for informational and educational purposes only. Trading involves risk, and past performance does not guarantee future results. Always conduct proper research and consult with a financial advisor before making trading decisions.
Custom Volume for scalping### **Indicator Summary: Custom Volume with Arrow Highlight**
#### **Purpose:**
This indicator visualizes volume bars in a chart, highlighting specific conditions based on volume trends. It displays arrows above the volume bars to indicate potential bullish or bearish market conditions.
#### **Key Features:**
1. **Volume Bars**:
- The indicator plots volume as columns on the chart.
- Volume bars are colored:
- **White** for bullish volume (when the closing price is higher than the opening price).
- **Blue** for bearish volume (when the closing price is lower than the opening price).
2. **Highlight Conditions**:
- The indicator identifies a sequence of three consecutive volume bars:
- The first two bars must be of the same direction (either both bullish or both bearish).
- The third bar must be of the opposite direction.
- Additionally, the third bar's volume must be greater than the previous bar's volume.
3. **Arrow Indicators**:
- When the highlight conditions are met:
- An **upward arrow** ("▲") is placed above the third volume bar for bullish conditions (when the third bar is bullish).
- A **downward arrow** ("▼") is placed above the third volume bar for bearish conditions (when the third bar is bearish).
- The arrows are colored to match the respective volume bar: white for bullish and blue for bearish.
4. **Adjustable Size**:
- The arrows are sized appropriately to ensure visibility without cluttering the chart.
#### **Use Cases:**
- This indicator can help traders identify potential reversals or continuation patterns based on volume behavior.
- It is particularly useful for traders focusing on volume analysis to confirm market trends and make informed trading decisions.
#### **Customization:**
- Users can modify the conditions and visual attributes according to their preferences, such as changing colors, sizes, and label positions.
### **Conclusion:**
The "Custom Volume with Arrow Highlight" indicator provides a straightforward and effective way to visualize volume trends and identify key market conditions, aiding traders in their decision-making processes. It combines the power of volume analysis with clear visual cues, making it a valuable tool for technical analysis in trading.
If you need any further modifications or details, let me know!
SW Gann Pressure time from tops and bottomsW.D. Gann's trading techniques often emphasized the significance of time in the markets, believing that specific time intervals could influence price movements. Here’s how the 30, 60, 90, 120, 180, and 270 bar intervals relate to Gann's rules:
1. **30 Bars**:
- Gann often viewed shorter time frames as critical for identifying short-term trends. A 30-bar interval can signify minor cycles or potential turning points in price.
2. **60 Bars**:
- This interval is significant as Gann believed in the importance of quarterly cycles. A 60-bar mark could indicate a completion of a two-month cycle, often leading to retracements or reversals.
3. **90 Bars**:
- Gann considered 90 days (or bars) to represent a quarter. This interval can signify a substantial shift in market sentiment or a pivotal point in a longer trend.
4. **120 Bars**:
- The 120-bar mark corresponds to about four months. Gann viewed longer intervals as more significant, often leading to major shifts in market trends.
5. **180 Bars**:
- A 180-bar period relates to a semi-annual cycle, which Gann regarded as critical for major support and resistance levels. Price action around this interval can reveal potential long-term trend reversals.
6. **270 Bars**:
- Gann believed that longer cycles, such as 270 bars (approximately nine months), could indicate significant market phases. This interval may represent major turning points and help identify long-term trends.
### Application in Trading:
- **Identifying Trends**: Traders can use these intervals to spot potential trend reversals or continuations based on Gann’s principles of market cycles.
- **Setting Targets and Stops**: Knowing where these key bars fall can help in setting profit targets and stop-loss orders.
- **Analyzing Market Sentiment**: Price reactions at these intervals can provide insights into market psychology and sentiment shifts.
By marking these intervals on a chart, traders can visually assess when price action aligns with Gann's theories, helping them make more informed trading decisions based on historical patterns and cycles.
PineConnectorLibrary "PineConnector"
This library is a comprehensive alert webhook text generator for PineConnector. It contains every possible alert syntax variation from the documentation, along with some debugging functions.
To use it, just import the library (eg. "import ZenAndTheArtOfTrading/PineConnector/1 as pc") and use pc.buy(licenseID) to send an alert off to PineConnector - assuming all your webhooks etc are set up correctly.
View the PineConnector documentation for more information on how to send the commands you're looking to send (all of this library's function names match the documentation).
all()
Usage: pc.buy(pc_id, freq=pc.all())
Returns: "all"
once_per_bar()
Usage: pc.buy(pc_id, freq=pc.once_per_bar())
Returns: "once_per_bar"
once_per_bar_close()
Usage: pc.buy(pc_id, freq=pc.once_per_bar_close())
Returns: "once_per_bar_close"
na0(value)
Checks if given value is either 'na' or 0. Useful for streamlining scripts with float user setting inputs which default values to 0 since na is unavailable as a user input default.
Parameters:
value (float) : The value to check
Returns: True if the given value is 0 or na
getDecimals()
Calculates how many decimals are on the quote price of the current market.
Returns: The current decimal places on the market quote price
truncate(number, decimals)
Truncates the given number. Required params: mumber.
Parameters:
number (float) : Number to truncate
decimals (int) : Decimal places to cut down to
Returns: The input number, but as a string truncated to X decimals
getPipSize(multiplier)
Calculates the pip size of the current market.
Parameters:
multiplier (int) : The mintick point multiplier (1 by default, 10 for FX/Crypto/CFD but can be used to override when certain markets require)
Returns: The pip size for the current market
toWhole(number)
Converts pips into whole numbers. Required params: number.
Parameters:
number (float) : The pip number to convert into a whole number
Returns: The converted number
toPips(number)
Converts whole numbers back into pips. Required params: number.
Parameters:
number (float) : The whole number to convert into pips
Returns: The converted number
debug(txt, tooltip, displayLabel)
Prints to console and generates a debug label with the given text. Required params: txt.
Parameters:
txt (string) : Text to display
tooltip (string) : Tooltip to display (optional)
displayLabel (bool) : Turns on/off chart label (default: off)
Returns: Nothing
order(licenseID, command, symbol, parameters, accfilter, comment, secret, freq, debug)
Generates an alert string. Required params: licenseID, command.
Parameters:
licenseID (string) : Your PC license ID
command (string) : Command to send
symbol (string) : The symbol to trigger this order on
parameters (string) : Other optional parameters to include
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: An alert string with valid PC syntax based on supplied parameters
market_order(licenseID, buy, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a market entry alert with relevant syntax commands. Required params: licenseID, buy, risk.
Parameters:
licenseID (string) : Your PC license ID
buy (bool) : true=buy/long, false=sell/short
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A market order alert string with valid PC syntax based on supplied parameters
buy(licenseID, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a market buy alert with relevant syntax commands. Required params: licenseID, risk.
Parameters:
licenseID (string) : Your PC license ID
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A market order alert string with valid PC syntax based on supplied parameters
sell(licenseID, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a market sell alert with relevant syntax commands. Required params: licenseID, risk.
Parameters:
licenseID (string) : Your PC license ID
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A market order alert string with valid PC syntax based on supplied parameters
closeall(licenseID, comment, secret, freq, debug)
Closes all open trades at market regardless of symbol. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closealleaoff(licenseID, comment, secret, freq, debug)
Closes all open trades at market regardless of symbol, and turns the EA off. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closelong(licenseID, symbol, comment, secret, freq, debug)
Closes all long trades at market for the given symbol. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closeshort(licenseID, symbol, comment, secret, freq, debug)
Closes all open short trades at market for the given symbol. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closelongshort(licenseID, symbol, comment, secret, freq, debug)
Closes all open trades at market for the given symbol. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closelongbuy(licenseID, risk, symbol, comment, secret, freq, debug)
Close all long positions and open a new long at market for the given symbol with given risk/contracts. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
risk (float) : Risk or contracts (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closeshortsell(licenseID, risk, symbol, comment, secret, freq, debug)
Close all short positions and open a new short at market for the given symbol with given risk/contracts. Required params: licenseID, risk.
Parameters:
licenseID (string) : Your PC license ID
risk (float) : Risk or contracts (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
newsltplong(licenseID, sl, tp, symbol, accfilter, comment, secret, freq, debug)
Updates the stop loss and/or take profit of any open long trades on the given symbol with the given values. Required params: licenseID, sl and/or tp.
Parameters:
licenseID (string) : Your PC license ID
sl (float) : Stop loss pips or price (according to EA settings)
tp (float) : Take profit pips or price (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
newsltpshort(licenseID, sl, tp, symbol, accfilter, comment, secret, freq, debug)
Updates the stop loss and/or take profit of any open short trades on the given symbol with the given values. Required params: licenseID, sl and/or tp.
Parameters:
licenseID (string) : Your PC license ID
sl (float) : Stop loss pips or price (according to EA settings)
tp (float) : Take profit pips or price (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closelongpct(licenseID, symbol, comment, secret, freq, debug)
Close a percentage of open long positions (according to EA settings). Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closeshortpct(licenseID, symbol, comment, secret, freq, debug)
Close a percentage of open short positions (according to EA settings). Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closelongvol(licenseID, risk, symbol, comment, secret, freq, debug)
Close all open long contracts on the current symbol until the given risk value is remaining. Required params: licenseID, risk.
Parameters:
licenseID (string) : Your PC license ID
risk (float) : The quantity to leave remaining
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
closeshortvol(licenseID, risk, symbol, comment, secret, freq, debug)
Close all open short contracts on the current symbol until the given risk value is remaining. Required params: licenseID, risk.
Parameters:
licenseID (string) : Your PC license ID
risk (float) : The quantity to leave remaining
symbol (string) : Symbol to act on (defaults to current symbol)
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
limit_order(licenseID, buy, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a limit order alert with relevant syntax commands. Required params: licenseID, buy, price, risk.
Parameters:
licenseID (string) : Your PC license ID
buy (bool) : true=buy/long, false=sell/short
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A limit order alert string with valid PC syntax based on supplied parameters
buylimit(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a buylimit order alert with relevant syntax commands. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A limit order alert string with valid PC syntax based on supplied parameters
selllimit(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a selllimit order alert with relevant syntax commands. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A limit order alert string with valid PC syntax based on supplied parameters
stop_order(licenseID, buy, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a stop order alert with relevant syntax commands. Required params: licenseID, buy, price, risk.
Parameters:
licenseID (string) : Your PC license ID
buy (bool) : true=buy/long, false=sell/short
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
buystop(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a buystop order alert with relevant syntax commands. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
sellstop(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Generates a sellstop order alert with relevant syntax commands. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
cancel_neworder(licenseID, order, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Cancel + place new order template function.
Parameters:
licenseID (string) : Your PC license ID
order (string) : Cancel order type
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
cancellongbuystop(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Cancels all long orders with the specified symbol and places a new buystop order. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
cancellongbuylimit(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Cancels all long orders with the specified symbol and places a new buylimit order. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
cancelshortsellstop(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Cancels all short orders with the specified symbol and places a sellstop order. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
cancelshortselllimit(licenseID, price, risk, sl, tp, betrigger, beoffset, spread, trailtrig, traildist, trailstep, atrtimeframe, atrperiod, atrmultiplier, atrshift, atrtrigger, symbol, accfilter, comment, secret, freq, debug)
Cancels all short orders with the specified symbol and places a selllimit order. Required params: licenseID, price, risk.
Parameters:
licenseID (string) : Your PC license ID
price (float) : Price or pips to set limit order (according to EA settings)
risk (float) : Risk quantity (according to EA settings)
sl (float) : Stop loss distance in pips or price
tp (float) : Take profit distance in pips or price
betrigger (float) : Breakeven will be activated after the position gains this number of pips
beoffset (float) : Offset from entry price. This is the amount of pips you'd like to protect
spread (float) : Enter the position only if the spread is equal or less than the specified value in pips
trailtrig (float) : Trailing stop-loss will be activated after a trade gains this number of pips
traildist (float) : Distance of the trailing stop-loss from current price
trailstep (float) : Moves trailing stop-loss once price moves to favourable by a specified number of pips
atrtimeframe (int) : ATR Trailing Stop timeframe, only updates once per bar close. Options: 1, 5, 15, 30, 60, 240, 1440
atrperiod (int) : ATR averaging period
atrmultiplier (float) : Multiple of ATR to utilise in the new SL computation, default = 1
atrshift (int) : Relative shift of price information, 0 uses latest candle, 1 uses second last, etc. Default = 0
atrtrigger (int) : Activate the trigger of ATR Trailing after market moves favourably by a number of pips. Default = 0 (instant)
symbol (string) : The symbol to trigger this order on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment (maximum 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A stop order alert string with valid PC syntax based on supplied parameters
cancellong(licenseID, symbol, accfilter, comment, secret, freq, debug)
Cancels all pending long orders with the specified symbol. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A cancel long alert command
cancelshort(licenseID, symbol, accfilter, comment, secret, freq, debug)
Cancels all pending short orders with the specified symbol. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: A cancel short alert command
newsltpbuystop(licenseID, sl, tp, symbol, accfilter, comment, secret, freq, debug)
Updates the stop loss and/or take profit of any pending buy stop orders on the given symbol. Required params: licenseID, sl and/or tp.
Parameters:
licenseID (string) : Your PC license ID
sl (float) : Stop loss pips or price (according to EA settings)
tp (float) : Take profit pips or price (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
newsltpbuylimit(licenseID, sl, tp, symbol, accfilter, comment, secret, freq, debug)
Updates the stop loss and/or take profit of any pending buy limit orders on the given symbol. Required params: licenseID, sl and/or tp.
Parameters:
licenseID (string) : Your PC license ID
sl (float) : Stop loss pips or price (according to EA settings)
tp (float) : Take profit pips or price (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
newsltpsellstop(licenseID, sl, tp, symbol, accfilter, comment, secret, freq, debug)
Updates the stop loss and/or take profit of any pending sell stop orders on the given symbol. Required params: licenseID, sl and/or tp.
Parameters:
licenseID (string) : Your PC license ID
sl (float) : Stop loss pips or price (according to EA settings)
tp (float) : Take profit pips or price (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
newsltpselllimit(licenseID, sl, tp, symbol, accfilter, comment, secret, freq, debug)
Updates the stop loss and/or take profit of any pending sell limit orders on the given symbol. Required params: licenseID, sl and/or tp.
Parameters:
licenseID (string) : Your PC license ID
sl (float) : Stop loss pips or price (according to EA settings)
tp (float) : Take profit pips or price (according to EA settings)
symbol (string) : Symbol to act on (defaults to current symbol)
accfilter (float) : Optional minimum account balance filter
comment (string) : Optional comment to include (max 20 characters)
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
eaoff(licenseID, secret, freq, debug)
Turns the EA off. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
eaon(licenseID, secret, freq, debug)
Turns the EA on. Required params: licenseID.
Parameters:
licenseID (string) : Your PC license ID
secret (string) : Optional secret key (must be enabled in dashboard)
freq (string) : Alert frequency. Default = "all", options = "once_per_bar", "once_per_bar_close" and "none"
debug (bool) : Turns on/off debug label
Returns: The required alert syntax as a string
Prometheus Fractal WaveThe Fractal Wave is an indicator that uses a fractal analysis to determine where reversals may happen. This is done through a Fractal process, making sure a price point is in a certain set and then getting a Distance metric.
Calculation:
A bullish Fractal is defined by the current bar’s high being less than the last bar’s high, and the last bar’s high being greater than the second to last bar’s high, and the last bar’s high being greater than the third to last bar’s high.
A bearish Fractal is defined by the current low being greater than the last bar’s low, and the last bar’s low being less than the second to last bar’s low, and the last bar’s low being less than the third to last bar’s low.
When there is that bullish or bearish fractal the value we store is either the last bar’s high or low respective to bullish or bearish fractal.
Once we have that value stored we either subtract the last bar’s low from the bullish Fractal value, and subtract the last bar’s high from the bearish Fractal value. Those are our Distances.
Code:
isBullishFractal() =>
high > high and high < high and high > high
isBearishFractal() =>
low < low and low > low and low < low
var float lastBullishFractal = na
var float lastBearishFractal = na
if isBullishFractal() and barstate.isconfirmed
lastBullishFractal := high
if isBearishFractal() and barstate.isconfirmed
lastBearishFractal := low
//------------------------------
//-------CACLULATION------------
//------------------------------
bullWaveDistance = na(lastBullishFractal) ? na : lastBullishFractal - low
bearWaveDistance = na(lastBearishFractal) ? na : high - lastBearishFractal
We then plot the bullish distance and the negative bearish distance.
The trade scenarios come from when one breaks the zero line and then goes back above or below. So if the last bullish distance was below 0 and is now above, or if the last negative bearish distance was above 0 and now below. We plot a green label below a candle for a bullish scenario, or a red label above a candle for a bearish one, you can turn them on or off.
Code:
plot(bullWaveDistance, color=color.green, title="Bull Wave Distance", linewidth=2)
plot(-bearWaveDistance, color=color.red, title="Bear Wave Distance", linewidth=2)
plot(0, "Zero Line", color=color.gray, display = display.pane)
bearish_reversal = plot_labels ? bullWaveDistance < 0 and bullWaveDistance > 0 : na
bullish_reversal = plot_labels ? -bearWaveDistance > 0 and -bearWaveDistance < 0 : na
plotshape(bullish_reversal, location=location.belowbar, color=color.green, style=shape.labelup, title="Bullish Fractal", text="↑", display = display.all - display.status_line, force_overlay = true)
plotshape(bearish_reversal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Bearish Fractal", text="↓", display = display.all - display.status_line, force_overlay = true)
We can see in this daily NASDAQ:QQQ chart that the indicator gives us marks that can either be used as Reversal signals or as breathers in the trend.
Since it is designed to provide reversals, on something like Gold where the uptrend has been strong, the signals may be just short breathers, not full blown strong reversal signs.
The indicator works just as well intra day as it does on larger timeframes.
We encourage traders to not follow indicators blindly, none are 100% accurate. Please comment on any desired updates, all criticism is welcome!
