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Time Range StatisticsA good amount of users requested a text box showing various price statistics, the following script returns various of these stats in a user-selected range, and include classical ones such as a central tendency measurement (mean), dispersion (normalized range) and percent change, but also include less common statistics such as average traded volume and number of gaps. The script also calculates the correlation between the closing price and another user-selected instrument. The script is currently the longest one I ever made and took some efforts, as I wasn't satisfied with the statistics to be originally included. Big thx to Gael for the enormous feedback and the idea of the normalized range, to user @Cookiecrush for the feedback ( without ya I would have posted something bad you know umu ? ), and Lulidolce for the support, friendship is magic! Selected Range The setting Start determine the bar at which the range starts, while End determine at which bar the range end. To help you select these values, the current bar number (bar index) is displayed at the right of the indicator title in blue. The setting evaluate to last bar will use a range starting at Start and ending at the last bar, as such you can use a full range by using Start = 0 and select evaluate to last bar The range is highlighted by an area on the chart. By default Start = 9000 and End = 10000, you might not have this amount of data in your chart, as such use the displayed bar index to select Start and End, then set the settings as default. Displayed Statistics The statistics panel is displayed on the right side of the last bar, the panel has 3 sections, a title section who shows the symbol ticker, timeframe, and overall trends represented by a chart emoji, the overall trends are determined by comparing the number of higher highs with the number of lower low. Below are displayed the date ranges with time format: year/month/day/hour:minute. The second section shows the general statistics. The first one is the mean, also represented by the orange line in the chart, the blue line displayed represent the highest price value in the range, while the red one represents the lowest price value. The second stat is the normalized range, and determine how spread is the price in the user-selected range, why not the standard deviation? Because the standard deviation might return results varying widely depending on the scale of the closing price, you could get measures such as 0.0156 or 16 or even 56 depending on the instrument, as such using a normalized range can be more appropriate as it lays in a range of (0,1). Lower values indicate a low degree of price variation. Note that I still want to find another measure in the future. The percentage change (or relative change) indicates at which percentage the price has increased or decreased, and is calculated by subtracting the closing at bar Start with the price at bar End , divided by the price at bar End , the result is then multiplied by 100. The average traded volume calculate the mean of the volume in the selected range, I used the same format used by the original volume indicator for clarity. Finally, the last stats of the section is the number of gaps, this stat is by default hidden. An up gap is detected when the open price is superior to the previous high, while a down gap is detected when the open price is inferior to the previous low, this allow to only retain significant gaps. The last section of the indicator panel shows the correlation between the closing price and another instrument, by default GOOG, this correlation is also calculated within the user-selected range. Positive values indicate a positive relationship, that is the two instruments tend to move in the same direction. Negative values indicate a negative relationship, both instruments tend to move in a direction opposite to each other. Values closer to 1 or -1 indicate a stronger relationship, while values closer to 0 indicate no relationship. In Summary The script shows various stats, each calculated within a user-selected range, in general one would be more interested in how these stats might evolve with time, but checking them in a custom range can be quite interesting. Thx for reading. umu
Indicatore Pine Script®
di alexgrover
16
Multi SMA EMA WMA HMA BB (4x5 MAs Bollinger Bands) Adv MTF - RRBMulti SMA EMA WMA HMA 4x5 Moving Averages with Bollinger Bands Advanced MTF by RagingRocketBull 2019 Version 1.0 This indicator shows multiple MAs of any type SMA EMA WMA HMA etc with BB and MTF support, can show MAs as dynamically moving levels. There are 4 MA groups + 1 BB group, a total of 4 TFs * 5 MAs = 20 MAs. You can assign any type/timeframe combo to a group, for example: - EMAs 12,26,50,100,200 x H1, H4, D1, W1 (4 TFs x 5 MAs x 1 type) - EMAs 8,10,13,21,30,50,55,100,200,400 x M15, H1 (2 TFs x 10 MAs x 1 type) - D1 EMAs and SMAs 8,10,12,26,30,50,55,100,200,400 (1 TF x 10 MAs x 2 types) - H1 WMAs 7,77,89,167,231; H4 HMAs 12,26,50,100,200; D1 EMAs 89,144,169,233,377; W1 SMAs 12,26,50,100,200 (4 TFs x 5 MAs x 4 types) - +1 extra MA type/timeframe for BB There are several versions: Simple, MTF, Pro MTF, Advanced MTF and Ultimate MTF. This is the Advanced MTF version. The Differences are listed below. All versions have BB - Simple: you have 2 groups of MAs that can be assigned any type (5+5) - MTF: +2 custom Timeframes for each group (2x5 MTF) +1 TF for BB, TF XY smoothing - Pro MTF: 4 custom Timeframes for each group (4x3 MTF), 1 TF for BB, MA levels and show max bars back options - Advanced MTF: +2 extra MAs/group (4x5 MTF), custom Ticker/Symbols, Timeframe <>= filter, Remove Duplicates Option - Ultimate MTF: +individual settings for each MA, custom Ticker/Symbols Features: - 4x5 = 20 MAs of any type - 4x MTF groups with XY step line smoothing - +1 extra TF/type for BB MAs - 4x5 = 20 MA levels with adjustable group offsets, indents and shift - supports any existing type of MA: SMA, EMA, WMA, Hull Moving Average (HMA) - custom tickers/symbols for each group - you can compare MAs of the same symbol across exchanges - show max bars back option - show/hide both groups of MAs/levels/BB and individual MAs - timeframe filter: show only MAs/Levels with TFs <>= Current TF - hide MAs/Levels with duplicate TFs - support for custom TFs that are not available in free accounts: 2D, 3D etc - support for timeframes in H: H, 2H, 4H etc Notes: - Uses timeframe textbox instead of input resolution dropdown to allow for 240 120 and other custom TFs - Uses symbol textbox instead of input symbol to avoid establishing multiple dummy security connections to the current ticker - otherwise empty symbols will prevent script from running - Possible reasons for missing MAs on a chart: - there may not be enough bars in history to start plotting it. For example, W1 EMA200 needs at least 200 bars on a weekly chart. - price << default Y smoothing step 5. For charts with low/fractional prices (i.e. 0.00002 << 5) adjust X Y smoothing as needed (set Y = 0.0000001) or disable it completely (set X,Y to 0,0) - TradingView Replay Mode UI and Pinescript security calls are limited to TFs >= D (D,2D,W,MN...) for free accounts - attempting to plot any TF < D1 in Replay Mode will only result in straight lines, but all TFs will work properly in history and real-time modes. This is not a bug. - Max Bars Back (num_bars) is limited to 5000 for free accounts (10000 for paid), will show error when exceeded. To plot on all available history set to 0 (default) - Slow load/redraw times. This indicator becomes slower, its UI less responsive when: - Pinescript Node.js graphics library is too slow and inefficient at plotting bars/objects in a browser window. Code optimization doesn't help much - the graphics engine is the main reason for general slowness. - the chart has a long history (10000+ bars) in a browser's cache (you have scrolled back a couple of screens in a max zoom mode). - Reload the page/Load a fresh chart and then apply the indicator or - Switch to another Timeframe (old TF history will still remain in cache and that TF will be slow) - in max possible zoom mode around 4500 bars can fit on 1 screen - this also slows down responsiveness. Reset Zoom level - initial load and redraw times after a param change in UI also depend on TF. For example: D1/W1 - 2 sec, H1/H4 - 5-6 sec, M30 - 10 sec, M15/M5 - 4 sec, M1 - 5 sec. M30 usually has the longest history (up to 16000 bars) and W1 - the shortest (1000 bars). - when indicator uses more MAs (plots) and timeframes it will redraw slower. Seems that up to 5 Timeframes is acceptable, but 6+ Timeframes can become very slow. - show_last=last_bars plot limit doesn't affect load/redraw times, so it was removed from MA plot - Max Bars Back (num_bars) default/custom set UI value doesn't seem to affect load/redraw times - In max zoom mode all dynamic levels disappear (they behave like text) 1. based on 3EmaBB, uses plot*, barssince and security functions 2. you can't set certain constants from input due to Pinescript limitations - change the code as needed, recompile and use as a private version 3. Levels = trackprice implementation 4. Show Max Bars Back = show_last implementation 5. swma has a fixed length = 4, alma and linreg have additional offset and smoothing params 6. Smoothing is applied by default for visual aesthetics on MTF. To use exact ma mtf values (lines with stair stepping) - disable it Good Luck! You can explore, modify/reuse the code to build your own indicators.
Indicatore Pine Script®
di RagingRocketBull
3
The Zone Trades v1.0The Zone is mention in New Trading Dimensions by Bill Williams,PhD. The Zone is used for Entry Signal Green Zone are painting Green Bars when Awesome Oscillator (AO) and Accelerater/Decelerator (AC) are both increasing. Red Zone are painting Red Bars when Awesome Oscillator (AO) and Accelerater/Decelerator (AC) are both decreasing. Gray Zone are painting Gray Bars AO and AC in difference changing Gray Zone are indicate the indecision between bulls and bears. Bill Williams, PhD. mention that Green Zone or Red Zone usually happen 6-8 bars Continuously. The First Bar that change to be Green or Red color is the Signal Bar. Entry Signal is the second bar in the same color as the Signal bar happen with Volume Price go higher the high of previous Green Bar is Buy Signal. Entry Buy (Long) and place Stop at 1 tick lower the Low of previous bar. Price go ;ower the Low of previous Red Bars is Sell Signal. Entry Sell (Short) and place Stop at 1 tick higher the High of previous bar. Do not Entry if Green Bars or Red Bars completed 5 bars continuously.
Indicatore Pine Script®
di WaveRiders
The Zone Trades v1.0The Zone v.1.0 The Zone is mention in New Trading Dimensions by Bill Williams,PhD. The Zone is used for Entry Signal of Both Long and Short side. Green Zone are painting Green Bars when Awesome Oscillator (AO) and Accelerater/Decelerator (AC) are both increasing. Red Zone are painting Red Bars when Awesome Oscillator (AO) and Accelerater/Decelerator (AC) are both decreasing. Gray Zone are painting Gray Bars AO and AC in difference changing. Gray Zone are indicate the indecision between bulls and bears. Bill Williams, PhD. mention that Green Zone or Red Zone usually happen 6-8 bars Continuously. The First Bar that change to be Green or Red color is the Signal Bar. Entry Signal is the second bar in the same color as the Signal bar happen with Volume Price go higher the high of previous Green Bar is Buy Signal. Entry Buy (Long) and place Stop at 1 tick lower the Low of previous bar. Price go ;ower the Low of previous Red Bars is Sell Signal. Entry Sell (Short) and place Stop at 1 tick higher the High of previous bar. Do not Entry if Green Bars or Red Bars completed 5 bars continuously.
Indicatore Pine Script®
di WaveRiders
Indicator: Relative Volume Indicator & Freedom Of MovementRelative Volume Indicator ------------------------------ RVI is a support-resistance technical indicator developed by Melvin E. Dickover. Unlike many conventional support and resistance indicators, the Relative Volume Indicator takes into account price-volume behavior in order to detect the supply and demand pools. These pools are marked by "Defended Price Lines" (DPLs), also introduced by the author. RVI is usually plotted as a histogram; its bars are highlighted (black, by default) when the volume is unusually large. According to the author, this happens if the indicator value exceeds 2.0, thus signifying that a possible DPL is present. DPLs are horizontal lines that run across the chart at levels defined by following conditions: * Overlapping bars: If the indicator spike (i.e., indicator is above 2.0 or a custom value) corresponds to a price bar overlapping the previous one, the previous close can be used as the DPL value. * Very large bars: If the indicator spike corresponds to a price bar of a large size, use its close price as the DPL value. * Gapping bars: If the indicator spike corresponds to a price bar gapping from the previous bar, the DPL value will depend on the gap size. Small gaps can be ignored: the author suggests using the previous close as the DPL value. When the gap is big, the close of the latter bar is used instead. * Clustering spikes: If the indicator spikes come in clusters, use the extreme close or open price of the bar corresponding to the last or next to last spike in cluster. DPLs can be used as support and resistance levels. In order confirm and refine them, RVI is used along with the FreedomOfMovement indicator discussed next. Freedom of Movement Indicator ------------------------------ FOM is a support-resistance technical indicator, also by Melvin E. Dickover. FOM is the ratio of relative effect (relative price change) to the relative effort (normalized volume), expressed in standard deviations. This value is plotted as a histogram; its bars are highlighted (black, by default( when this ratio is unusually high. These highlighted bars, or "spikes", define the positioning of the DPLs. Suggestions for placing DPLs are the same as for the Relative Volume Indicator discussed above. Note that clustering spikes provide the strongest DPLs while isolated spikes can be used to confirm and refine those provided by the Relative Volume Indicator. Coincidence of spikes of the two indicator can be considered a sign of greater strength of the DPL. More info: S&C magazine, April 2014. I am still trying these on various instruments to understand the workings more. Don't forget to share what you learn -- any use cases / ideal scenarios / gotchas, would love to hear them all.
Indicatore Pine Script®
di LazyBear
25
Market Zone Analyzer[BullByte]Understanding the Market Zone Analyzer --- 1. Purpose of the Indicator The Market Zone Analyzer is a Pine Script™ (version 6) indicator designed to streamline market analysis on TradingView. Rather than scanning multiple separate tools, it unifies four core dimensions—trend strength, momentum, price action, and market activity—into a single, consolidated view. By doing so, it helps traders: • Save time by avoiding manual cross-referencing of disparate signals. • Reduce decision-making errors that can arise from juggling multiple indicators. • Gain a clear, reliable read on whether the market is in a bullish, bearish, or sideways phase, so they can more confidently decide to enter, exit, or hold a position. --- 2. Why a Trader Should Use It • Unified View: Combines all essential market dimensions into one easy-to-read score and dashboard, eliminating the need to piece together signals manually. • Adaptability: Automatically adjusts its internal weighting for trend, momentum, and price action based on current volatility. Whether markets are choppy or calm, the indicator remains relevant. • Ease of Interpretation: Outputs a simple “BULLISH,” “BEARISH,” or “SIDEWAYS” label, supplemented by an intuitive on-chart dashboard and an oscillator plot that visually highlights market direction. • Reliability Features: Built-in smoothing of the net score and hysteresis logic (requiring consecutive confirmations before flips) minimize false signals during noisy or range-bound phases. --- 3. Why These Specific Indicators? This script relies on a curated set of well-established technical tools, each chosen for its particular strength in measuring one of the four core dimensions: 1. Trend Strength: • ADX/DMI (Average Directional Index / Directional Movement Index): Measures how strong a trend is, and whether the +DI line is above the –DI line (bullish) or vice versa (bearish). • Moving Average Slope (Fast MA vs. Slow MA): Compares a shorter-period SMA to a longer-period SMA; if the fast MA sits above the slow MA, it confirms an uptrend, and vice versa for a downtrend. • Ichimoku Cloud Differential (Senkou A vs. Senkou B): Provides a forward-looking view of trend direction; Senkou A above Senkou B signals bullishness, and the opposite signals bearishness. 2. Momentum: • Relative Strength Index (RSI): Identifies overbought (above its dynamically calculated upper bound) or oversold (below its lower bound) conditions; changes in RSI often precede price reversals. • Stochastic %K: Highlights shifts in short-term momentum by comparing closing price to the recent high/low range; values above its upper band signal bullish momentum, below its lower band signal bearish momentum. • MACD Histogram: Measures the difference between the MACD line and its signal line; a positive histogram indicates upward momentum, a negative histogram indicates downward momentum. 3. Price Action: • Highest High / Lowest Low (HH/LL) Range: Over a defined lookback period, this captures breakout or breakdown levels. A closing price near the recent highs (with a positive MA slope) yields a bullish score, and near the lows (with a negative MA slope) yields a bearish score. • Heikin-Ashi Doji Detection: Uses Heikin-Ashi candles to identify indecision or continuation patterns. A small Heikin-Ashi body (doji) relative to recent volatility is scored as neutral; a larger body in the direction of the MA slope is scored bullish or bearish. • Candle Range Measurement: Compares each candle’s high-low range against its own dynamic band (average range ± standard deviation). Large candles aligning with the prevailing trend score bullish or bearish accordingly; unusually small candles can indicate exhaustion or consolidation. 4. Market Activity: • Bollinger Bands Width (BBW): Measures the distance between BB upper and lower bands; wide bands indicate high volatility, narrow bands indicate low volatility. • Average True Range (ATR): Quantifies average price movement (volatility). A sudden spike in ATR suggests a volatile environment, while a contraction suggests calm. • Keltner Channels Width (KCW): Similar to BBW but uses ATR around an EMA. Provides a second layer of volatility context, confirming or contrasting BBW readings. • Volume (with Moving Average): Compares current volume to its moving average ± standard deviation. High volume validates strong moves; low volume signals potential lack of conviction. By combining these tools, the indicator captures trend direction, momentum strength, price-action nuances, and overall market energy, yielding a more balanced and comprehensive assessment than any single tool alone. --- 4. What Makes This Indicator Stand Out • Multi-Dimensional Analysis: Rather than relying on a lone oscillator or moving average crossover, it simultaneously evaluates trend, momentum, price action, and activity. • Dynamic Weighting: The relative importance of trend, momentum, and price action adjusts automatically based on real-time volatility (Market Activity State). For example, in highly volatile conditions, trend and momentum signals carry more weight; in calm markets, price action signals are prioritized. • Stability Mechanisms: • Smoothing: The net score is passed through a short moving average, filtering out noise, especially on lower timeframes. • Hysteresis: Both Market Activity State and the final bullish/bearish/sideways zone require two consecutive confirmations before flipping, reducing whipsaw. • Visual Interpretation: A fully customizable on-chart dashboard displays each sub-indicator’s value, regime, score, and comment, all color-coded. The oscillator plot changes color to reflect the current market zone (green for bullish, red for bearish, gray for sideways) and shows horizontal threshold lines at +2, 0, and –2. --- 5. Recommended Timeframes • Short-Term (5 min, 15 min): Day traders and scalpers can benefit from rapid signals, but should enable smoothing (and possibly disable hysteresis) to reduce false whipsaws. • Medium-Term (1 h, 4 h): Swing traders find a balance between responsiveness and reliability. Less smoothing is required here, and the default parameters (e.g., ADX length = 14, RSI length = 14) perform well. • Long-Term (Daily, Weekly): Position traders tracking major trends can disable smoothing for immediate raw readings, since higher-timeframe noise is minimal. Adjust lookback lengths (e.g., increase adxLength, rsiLength) if desired for slower signals. Tip: If you keep smoothing off, stick to timeframes of 1 h or higher to avoid excessive signal “chatter.” --- 6. How Scoring Works A. Individual Indicator Scores Each sub-indicator is assigned one of three discrete scores: • +1 if it indicates a bullish condition (e.g., RSI above its dynamically calculated upper bound). • 0 if it is neutral (e.g., RSI between upper and lower bounds). • –1 if it indicates a bearish condition (e.g., RSI below its dynamically calculated lower bound). Examples of individual score assignments: • ADX/DMI: • +1 if ADX ≥ adxThreshold and +DI > –DI (strong bullish trend) • –1 if ADX ≥ adxThreshold and –DI > +DI (strong bearish trend) • 0 if ADX < adxThreshold (trend strength below threshold) • RSI: • +1 if RSI > RSI_upperBound • –1 if RSI < RSI_lowerBound • 0 otherwise • ATR (as part of Market Activity): • +1 if ATR > (ATR_MA + stdev(ATR)) • –1 if ATR < (ATR_MA – stdev(ATR)) • 0 otherwise Each of the four main categories shares this same +1/0/–1 logic across their sub-components. B. Category Scores Once each sub-indicator reports +1, 0, or –1, these are summed within their categories as follows: • Trend Score = (ADX score) + (MA slope score) + (Ichimoku differential score) • Momentum Score = (RSI score) + (Stochastic %K score) + (MACD histogram score) • Price Action Score = (Highest-High/Lowest-Low score) + (Heikin-Ashi doji score) + (Candle range score) • Market Activity Raw Score = (BBW score) + (ATR score) + (KC width score) + (Volume score) Each category’s summed value can range between –3 and +3 (for Trend, Momentum, and Price Action), and between –4 and +4 for Market Activity raw. C. Market Activity State and Dynamic Weight Adjustments Rather than contributing directly to the netScore like the other three categories, Market Activity determines how much weight to assign to Trend, Momentum, and Price Action: 1. Compute Market Activity Raw Score by summing BBW, ATR, KCW, and Volume individual scores (each +1/0/–1). 2. Bucket into High, Medium, or Low Activity: • High if raw Score ≥ 2 (volatile market). • Low if raw Score ≤ –2 (calm market). • Medium otherwise. 3. Apply Hysteresis (if enabled): The state only flips after two consecutive bars register the same high/low/medium label. 4. Set Category Weights: • High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %. • Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %. • Medium Activity: Use the trader’s base weight inputs (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 % by default). D. Calculating the Net Score 5. Normalize Base Weights (so that the sum of Trend + Momentum + Price Action always equals 100 %). 6. Determine Current Weights based on the Market Activity State (High/Medium/Low). 7. Compute Each Category’s Contribution: Multiply (categoryScore) × (currentWeight). 8. Sum Contributions to get the raw netScore (a floating-point value that can exceed ±3 when scores are strong). 9. Smooth the netScore over two bars (if smoothing is enabled) to reduce noise. 10. Apply Hysteresis to the Final Zone: • If the smoothed netScore ≥ +2, the bar is classified as “Bullish.” • If the smoothed netScore ≤ –2, the bar is classified as “Bearish.” • Otherwise, it is “Sideways.” • To prevent rapid flips, the script requires two consecutive bars in the new zone before officially changing the displayed zone (if hysteresis is on). E. Thresholds for Zone Classification • BULLISH: netScore ≥ +2 • BEARISH: netScore ≤ –2 • SIDEWAYS: –2 < netScore < +2 --- 7. Role of Volatility (Market Activity State) in Scoring Volatility acts as a dynamic switch that shifts which category carries the most influence: 1. High Activity (Volatile): • Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal +1. • The script sets Trend weight = 50 % and Momentum weight = 35 %. Price Action weight is minimized at 15 %. • Rationale: In volatile markets, strong trending moves and momentum surges dominate, so those signals are more reliable than nuanced candle patterns. 2. Low Activity (Calm): • Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal –1. • The script sets Price Action weight = 55 %, Trend = 25 %, and Momentum = 20 %. • Rationale: In quiet, sideways markets, subtle price-action signals (breakouts, doji patterns, small-range candles) are often the best early indicators of a new move. 3. Medium Activity (Balanced): • Raw Score between –1 and +1 from the four volatility metrics. • Uses whatever base weights the trader has specified (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %). Because volatility can fluctuate rapidly, the script employs hysteresis on Market Activity State: a new High or Low state must occur on two consecutive bars before weights actually shift. This avoids constant back-and-forth weight changes and provides more stability. --- 8. Scoring Example (Hypothetical Scenario) • Symbol: Bitcoin on a 1-hour chart. • Market Activity: Raw volatility sub-scores show BBW (+1), ATR (+1), KCW (0), Volume (+1) → Total raw Score = +3 → High Activity. • Weights Selected: Trend = 50 %, Momentum = 35 %, Price Action = 15 %. • Trend Signals: • ADX strong and +DI > –DI → +1 • Fast MA above Slow MA → +1 • Ichimoku Senkou A > Senkou B → +1 → Trend Score = +3 • Momentum Signals: • RSI above upper bound → +1 • MACD histogram positive → +1 • Stochastic %K within neutral zone → 0 → Momentum Score = +2 • Price Action Signals: • Highest High/Lowest Low check yields 0 (close not near extremes) • Heikin-Ashi doji reading is neutral → 0 • Candle range slightly above upper bound but trend is strong, so → +1 → Price Action Score = +1 • Compute Net Score (before smoothing): • Trend contribution = 3 × 0.50 = 1.50 • Momentum contribution = 2 × 0.35 = 0.70 • Price Action contribution = 1 × 0.15 = 0.15 • Raw netScore = 1.50 + 0.70 + 0.15 = 2.35 • Since 2.35 ≥ +2 and hysteresis is met, the final zone is “Bullish.” Although the netScore lands at 2.35 (Bullish), smoothing might bring it slightly below 2.00 on the first bar (e.g., 1.90), in which case the script would wait for a second consecutive reading above +2 before officially classifying the zone as Bullish (if hysteresis is enabled). --- 9. Correlation Between Categories The four categories—Trend Strength, Momentum, Price Action, and Market Activity—often reinforce or offset one another. The script takes advantage of these natural correlations: • Bullish Alignment: If ADX is strong and pointed upward, fast MA is above slow MA, and Ichimoku is positive, that usually coincides with RSI climbing above its upper bound and the MACD histogram turning positive. In such cases, both Trend and Momentum categories generate +1 or +2. Because the Market Activity State is likely High (given the accompanying volatility), Trend and Momentum weights are at their peak, so the netScore quickly crosses into Bullish territory. • Sideways/Consolidation: During a low-volatility, sideways phase, ADX may fall below its threshold, MAs may flatten, and RSI might hover in the neutral band. However, subtle price-action signals (like a small breakout candle or a Heikin-Ashi candle with a slight bias) can still produce a +1 in the Price Action category. If Market Activity is Low, Price Action’s weight (55 %) can carry enough influence—even if Trend and Momentum are neutral—to push the netScore out of “Sideways” into a mild bullish or bearish bias. • Opposing Signals: When Trend is bullish but Momentum turns negative (for example, price continues up but RSI rolls over), the two scores can partially cancel. Market Activity may remain Medium, in which case the netScore lingers near zero (Sideways). The trader can then wait for either a clearer momentum shift or a fresh price-action breakout before committing. By dynamically recognizing these correlations and adjusting weights, the indicator ensures that: • When Trend and Momentum align (and volatility supports it), the netScore leaps strongly into Bullish or Bearish. • When Trend is neutral but Price Action shows an early move in a low-volatility environment, Price Action’s extra weight in the Low Activity State can still produce actionable signals. --- 10. Market Activity State & Its Role (Detailed) The Market Activity State is not a direct category score—it is an overarching context setter for how heavily to trust Trend, Momentum, or Price Action. Here’s how it is derived and applied: 1. Calculate Four Volatility Sub-Scores: • BBW: Compare the current band width to its own moving average ± standard deviation. If BBW > (BBW_MA + stdev), assign +1 (high volatility); if BBW < (BBW_MA × 0.5), assign –1 (low volatility); else 0. • ATR: Compare ATR to its moving average ± standard deviation. A spike above the upper threshold is +1; a contraction below the lower threshold is –1; otherwise 0. • KCW: Same logic as ATR but around the KCW mean. • Volume: Compare current volume to its volume MA ± standard deviation. Above the upper threshold is +1; below the lower threshold is –1; else 0. 2. Sum Sub-Scores → Raw Market Activity Score: Range between –4 and +4. 3. Assign Market Activity State: • High Activity: Raw Score ≥ +2 (at least two volatility metrics are strongly spiking). • Low Activity: Raw Score ≤ –2 (at least two metrics signal unusually low volatility or thin volume). • Medium Activity: Raw Score is between –1 and +1 inclusive. 4. Hysteresis for Stability: • If hysteresis is enabled, a new state only takes hold after two consecutive bars confirm the same High, Medium, or Low label. • This prevents the Market Activity State from bouncing around when volatility is on the fence. 5. Set Category Weights Based on Activity State: • High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %. • Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %. • Medium Activity: Use trader’s base weights (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %). 6. Impact on netScore: Because category scores (–3 to +3) multiply by these weights, High Activity amplifies the effect of strong Trend and Momentum scores; Low Activity amplifies the effect of Price Action. 7. Market Context Tooltip: The dashboard includes a tooltip summarizing the current state—e.g., “High activity, trend and momentum prioritized,” “Low activity, price action prioritized,” or “Balanced market, all categories considered.” --- 11. Category Weights: Base vs. Dynamic Traders begin by specifying base weights for Trend Strength, Momentum, and Price Action that sum to 100 %. These apply only when volatility is in the Medium band. Once volatility shifts: • High Volatility Overrides: • Trend jumps from its base (e.g., 40 %) to 50 %. • Momentum jumps from its base (e.g., 30 %) to 35 %. • Price Action is reduced to 15 %. Example: If base weights were Trend = 40 %, Momentum = 30 %, Price Action = 30 %, then in High Activity they become 50/35/15. A Trend score of +3 now contributes 3 × 0.50 = +1.50 to netScore; a Momentum +2 contributes 2 × 0.35 = +0.70. In total, Trend + Momentum can easily push netScore above the +2 threshold on its own. • Low Volatility Overrides: • Price Action leaps from its base (30 %) to 55 %. • Trend falls to 25 %, Momentum falls to 20 %. Why? When markets are quiet, subtle candle breakouts, doji patterns, and small-range expansions tend to foreshadow the next swing more effectively than raw trend readings. A Price Action score of +3 in this state contributes 3 × 0.55 = +1.65, which can carry the netScore toward +2—even if Trend and Momentum are neutral or only mildly positive. Because these weight shifts happen only after two consecutive bars confirm a High or Low state (if hysteresis is on), the indicator avoids constantly flipping its emphasis during borderline volatility phases. --- 12. Dominant Category Explained Within the dashboard, a label such as “Trend Dominant,” “Momentum Dominant,” or “Price Action Dominant” appears when one category’s absolute weighted contribution to netScore is the largest. Concretely: • Compute each category’s weighted contribution = (raw category score) × (current weight). • Compare the absolute values of those three contributions. • The category with the highest absolute value is flagged as Dominant for that bar. Why It Matters: • Momentum Dominant: Indicates that the combined force of RSI, Stochastic, and MACD (after weighting) is pushing netScore farther than either Trend or Price Action. In practice, it means that short-term sentiment and speed of change are the primary drivers right now, so traders should watch for continued momentum signals before committing to a trade. • Trend Dominant: Means ADX, MA slope, and Ichimoku (once weighted) outweigh the other categories. This suggests a strong directional move is in place; trend-following entries or confirming pullbacks are likely to succeed. • Price Action Dominant: Occurs when breakout/breakdown patterns, Heikin-Ashi candle readings, and range expansions (after weighting) are the most influential. This often happens in calmer markets, where subtle shifts in candle structure can foreshadow bigger moves. By explicitly calling out which category is carrying the most weight at any moment, the dashboard gives traders immediate insight into why the netScore is tilting toward bullish, bearish, or sideways. --- 13. Oscillator Plot: How to Read It The “Net Score” oscillator sits below the dashboard and visually displays the smoothed netScore as a line graph. Key features: 1. Value Range: In normal conditions it oscillates roughly between –3 and +3, but extreme confluences can push it outside that range. 2. Horizontal Threshold Lines: • +2 Line (Bullish threshold) • 0 Line (Neutral midline) • –2 Line (Bearish threshold) 3. Zone Coloring: • Green Background (Bullish Zone): When netScore ≥ +2. • Red Background (Bearish Zone): When netScore ≤ –2. • Gray Background (Sideways Zone): When –2 < netScore < +2. 4. Dynamic Line Color: • The plotted netScore line itself is colored green in a Bullish Zone, red in a Bearish Zone, or gray in a Sideways Zone, creating an immediate visual cue. Interpretation Tips: • Crossing Above +2: Signals a strong enough combined trend/momentum/price-action reading to classify as Bullish. Many traders wait for a clear crossing plus a confirmation candle before entering a long position. • Crossing Below –2: Indicates a strong Bearish signal. Traders may consider short or exit strategies. • Rising Slope, Even Below +2: If netScore climbs steadily from neutral toward +2, it demonstrates building bullish momentum. • Divergence: If price makes a higher high but the oscillator fails to reach a new high, it can warn of weakening momentum and a potential reversal. --- 14. Comments and Their Necessity Every sub-indicator (ADX, MA slope, Ichimoku, RSI, Stochastic, MACD, HH/LL, Heikin-Ashi, Candle Range, BBW, ATR, KCW, Volume) generates a short comment that appears in the detailed dashboard. Examples: • “Strong bullish trend” or “Strong bearish trend” for ADX/DMI • “Fast MA above slow MA” or “Fast MA below slow MA” for MA slope • “RSI above dynamic threshold” or “RSI below dynamic threshold” for RSI • “MACD histogram positive” or “MACD histogram negative” for MACD Hist • “Price near highs” or “Price near lows” for HH/LL checks • “Bullish Heikin Ashi” or “Bearish Heikin Ashi” for HA Doji scoring • “Large range, trend confirmed” or “Small range, trend contradicted” for Candle Range Additionally, the top-row comment for each category is: • Trend: “Highly Bullish,” “Highly Bearish,” or “Neutral Trend.” • Momentum: “Strong Momentum,” “Weak Momentum,” or “Neutral Momentum.” • Price Action: “Bullish Action,” “Bearish Action,” or “Neutral Action.” • Market Activity: “Volatile Market,” “Calm Market,” or “Stable Market.” Reasons for These Comments: • Transparency: Shows exactly how each sub-indicator contributed to its category score. • Education: Helps traders learn why a category is labeled bullish, bearish, or neutral, building intuition over time. • Customization: If, for example, the RSI comment says “RSI neutral” despite an impending trend shift, a trader might choose to adjust RSI length or thresholds. In the detailed dashboard, hovering over each comment cell also reveals a tooltip with additional context (e.g., “Fast MA above slow MA” or “Senkou A above Senkou B”), helping traders understand the precise rule behind that +1, 0, or –1 assignment. --- 15. Real-Life Example (Consolidated) • Instrument & Timeframe: Bitcoin (BTCUSD), 1-hour chart. • Current Market Activity: BBW and ATR both spike (+1 each), KCW is moderately high (+1), but volume is only neutral (0) → Raw Market Activity Score = +2 → State = High Activity (after two bars, if hysteresis is on). • Category Weights Applied: Trend = 50 %, Momentum = 35 %, Price Action = 15 %. • Trend Sub-Scores: 1. ADX = 25 (above threshold 20) with +DI > –DI → +1. 2. Fast MA (20-period) sits above Slow MA (50-period) → +1. 3. Ichimoku: Senkou A > Senkou B → +1. → Trend Score = +3. • Momentum Sub-Scores: 4. RSI = 75 (above its moving average +1 stdev) → +1. 5. MACD histogram = +0.15 → +1. 6. Stochastic %K = 50 (mid-range) → 0. → Momentum Score = +2. • Price Action Sub-Scores: 7. Price is not within 1 % of the 20-period high/low and slope = positive → 0. 8. Heikin-Ashi body is slightly larger than stdev over last 5 bars with haClose > haOpen → +1. 9. Candle range is just above its dynamic upper bound but trend is already captured, so → +1. → Price Action Score = +2. • Calculate netScore (before smoothing): • Trend contribution = 3 × 0.50 = 1.50 • Momentum contribution = 2 × 0.35 = 0.70 • Price Action contribution = 2 × 0.15 = 0.30 • Raw netScore = 1.50 + 0.70 + 0.30 = 2.50 → Immediately classified as Bullish. • Oscillator & Dashboard Output: • The oscillator line crosses above +2 and turns green. • Dashboard displays: • Trend Regime “BULLISH,” Trend Score = 3, Comment = “Highly Bullish.” • Momentum Regime “BULLISH,” Momentum Score = 2, Comment = “Strong Momentum.” • Price Action Regime “BULLISH,” Price Action Score = 2, Comment = “Bullish Action.” • Market Activity State “High,” Comment = “Volatile Market.” • Weights: Trend 50 %, Momentum 35 %, Price Action 15 %. • Dominant Category: Trend (because 1.50 > 0.70 > 0.30). • Overall Score: 2.50, posCount = (three +1s in Trend) + (two +1s in Momentum) + (two +1s in Price Action) = 7 bullish signals, negCount = 0. • Final Zone = “BULLISH.” • The trader sees that both Trend and Momentum are reinforcing each other under high volatility. They might wait one more candle for confirmation but already have strong evidence to consider a long. --- • . --- Disclaimer This indicator is strictly a technical analysis tool and does not constitute financial advice. All trading involves risk, including potential loss of capital. Past performance is not indicative of future results. Traders should: • Always backtest the “Market Zone Analyzer ” on their chosen symbols and timeframes before committing real capital. • Combine this tool with sound risk management, position sizing, and, if possible, fundamental analysis. • Understand that no indicator is foolproof; always be prepared for unexpected market moves. Goodluck -BullByte! ---
Indicatore Pine Script®
di BullByte
2
Canuck Trading Projection IndicatorCanuck Trading Projection Indicator Overview The Canuck Trading Projection Indicator is a powerful PineScript v6 tool designed for TradingView to project potential bullish and bearish price trajectories based on historical price and volume movements. It provides traders with actionable insights by estimating future price targets and assigning confidence levels to each outlook, helping to identify probable market directions across any timeframe. Ideal for both short-term and long-term traders, this indicator combines momentum analysis, RSI filtering, support/resistance detection, and time-weighted trend analysis to deliver robust projections. Features Bullish and Bearish Projections: Forecasts price targets for upward (bullish) and downward (bearish) movements over a user-defined projection period (default 20 bars). Confidence Levels: Assigns percentage confidence scores to each outlook, reflecting the likelihood of the projected price based on historical trends, volatility, and volume. RSI Filter: Incorporates a 14-period Relative Strength Index (RSI) to validate trends, requiring RSI > 50 for bullish and RSI < 50 for bearish signals. Support/Resistance Detection: Adjusts confidence levels when projections are near key swing highs/lows (within 2% of average price), boosting confidence by 5% for alignments. Time-Based Weighting: Prioritizes recent price movements in trend analysis, giving more weight to newer bars for improved relevance. Customizable Inputs: Allows users to tailor lookback period, projection bars, RSI period, confidence threshold, colors, and label positioning. Forced Label Spacing: Prevents overlap of bullish and bearish text labels, even for tight projections, using fixed vertical slots when price differences are small (<2% of average price). Timeframe Flexibility: Works seamlessly across all TradingView timeframes (e.g., 30-minute, hourly, daily, weekly, monthly), adapting projections to the chart’s resolution. Clean Visualization: Displays projections as green (bullish) and red (bearish) dashed lines, with non-overlapping text labels at the projection endpoints showing price targets and confidence levels. How It Works The indicator analyzes historical price and volume data over a user-defined lookback period (default 50 bars) to calculate: Momentum: Combines price changes and volume to assess trend strength, using a weighted moving average (WMA) for directional bias. Trend Analysis: Counts bullish (price up, volume above average, RSI > 50) and bearish (price down, volume above average, RSI < 50) trends, weighting recent bars more heavily. Projections: Bullish Slope: Positive or flat when momentum is upward, scaled by price change and momentum intensity. Bearish Slope: Negative or flat when momentum is downward, amplified by bearish confidence for stronger projections. Projects prices forward by 20 bars (default) using current close plus slope times projection bars. Confidence Levels: Base confidence derived from the proportion of bullish/bearish trends, with a 5% minimum to avoid zero confidence. Adjusted by volatility (lower volatility increases confidence), volume trends, and proximity to support/resistance levels. Visualization: Draws projection lines from the current close to the 20-bar future target. Places text labels at line endpoints, showing price targets and confidence percentages, with forced spacing for readability. Input Parameters Lookback Period (default: 50): Number of bars for historical analysis (minimum 10). Projection Bars (default: 20): Number of bars to project forward (minimum 5). Confidence Threshold (default: 0.6): Minimum confidence for strong trend indication (0.1 to 1.0). Bullish Projection Line Color (default: Green): Color for bullish projection line and label. Bearish Projection Line Color (default: Red): Color for bearish projection line and label. RSI Period (default: 14): Period for RSI momentum filter (minimum 5). Label Vertical Offset (%) (default: 1.0): Base offset for labels as a percentage of price range (0.1% to 5.0%). Minimum Label Spacing (%) (default: 2.0): Minimum vertical spacing between labels for tight projections (0.5% to 10.0%). Usage Instructions Add to Chart: Copy the script into TradingView’s Pine Editor, save, and add the indicator to your chart. Select Timeframe: Apply to any timeframe (e.g., 30-minute, hourly, daily, weekly, monthly) to match your trading strategy. Interpret Outputs: Green Line/Label: Bullish price target and confidence (e.g., "Bullish: 414.37, Confidence: 35%"). Red Line/Label: Bearish price target and confidence (e.g., "Bearish: 279.08, Confidence: 41.3%"). Higher confidence indicates a stronger likelihood of the projected outcome. Adjust Inputs: Modify Lookback Period to focus on shorter/longer historical trends (e.g., 20 for short-term, 100 for long-term). Change Projection Bars to adjust forecast horizon (e.g., 10 for shorter, 50 for longer). Tweak RSI Period or Confidence Threshold for sensitivity to momentum or trend strength. Customize Colors for visual preference. Increase Minimum Label Spacing if labels overlap in volatile markets. Combine with Analysis: Use alongside other indicators (e.g., moving averages, Bollinger Bands) or fundamental analysis to confirm signals, as projections are probabilistic. Example: TSLA Across Timeframes Using live TSLA data (close ~346.46 USD, May 31, 2025), the indicator produces: 30-Minute: Bullish 341.93 (13.3%), Bearish 327.96 (86.7%) – Strong bearish sentiment due to intraday volatility. 1-Hour: Bullish 342.00 (33.9%), Bearish 327.50 (62.3%) – Bearish but less intense, reflecting hourly swings. 4-Hour: Bullish 345.52 (73.4%), Bearish 344.44 (19.0%) – Flat outlook, indicating consolidation. Daily: Bullish 391.26 (68.8%), Bearish 302.22 (31.2%) – Bullish bias from recent uptrend, bearish tempered by longer lookback. Weekly: Bullish 414.37 (35.0%), Bearish 279.08 (41.3%) – Wide range, reflecting annual volatility. Monthly: Bullish 396.70 (54.9%), Bearish 296.93 (10.2%) – Long-term bullish optimism. These results align with market dynamics: short-term intervals capture volatility, while longer intervals smooth trends, providing balanced outlooks. Notes Accuracy: Projections are estimates based on historical data and should be used with other analysis tools. Confidence levels indicate likelihood, not certainty. Timeframe Sensitivity: Short-term intervals (e.g., 30-minute) show larger price swings and higher confidence due to volatility, while longer intervals (e.g., monthly) are more stable. Customization: Adjust inputs to match your trading style (e.g., shorter lookback for day trading, longer for swing trading). Performance: Tested on volatile stocks like TSLA, NVIDIA, and others, ensuring robust performance across markets. Limitations: May produce conservative bearish projections in strong uptrends due to momentum weighting. Adjust lookback or projection_bars for sensitivity. Feedback If you encounter issues (e.g., label overlap, projection mismatches), please share your timeframe, settings, or a screenshot. Suggestions for enhancements (e.g., additional filters, visual tweaks) are welcome! Disclaimer The Canuck Trading Projection Indicator is provided for educational and informational purposes only. It is not financial advice. Trading involves significant risks, and past performance is not indicative of future results. Always perform your own due diligence and consult a qualified financial advisor before making trading decisions.
Indicatore Pine Script®
di ctoincanada
FvgObject█ OVERVIEW This library provides a suite of methods designed to manage the visual representation and lifecycle of Fair Value Gap (FVG) objects on a Pine Script™ chart. It extends the `fvgObject` User-Defined Type (UDT) by attaching object-oriented functionalities for drawing, updating, and deleting FVG-related graphical elements. The primary goal is to encapsulate complex drawing logic, making the main indicator script cleaner and more focused on FVG detection and state management. █ CONCEPTS This library is built around the idea of treating each Fair Value Gap as an "object" with its own visual lifecycle on the chart. This is achieved by defining methods that operate directly on instances of the `fvgObject` UDT. Object-Oriented Approach for FVGs Pine Script™ v6 introduced the ability to define methods for User-Defined Types (UDTs). This library leverages this feature by attaching specific drawing and state management functions (methods) directly to the `fvgObject` type. This means that instead of calling global functions with an FVG object as a parameter, you call methods *on* the FVG object itself (e.g., `myFvg.updateDrawings(...)`). This approach promotes better code organization and a more intuitive way to interact with FVG data. FVG Visual Lifecycle Management The core purpose of this library is to manage the complete visual journey of an FVG on the chart. This lifecycle includes: Initial Drawing: Creating the first visual representation of a newly detected FVG, including its main box and optionally its midline and labels. State Updates & Partial Fills: Modifying the FVG's appearance as it gets partially filled by price. This involves drawing a "mitigated" portion of the box and adjusting the `currentTop` or `currentBottom` of the remaining FVG. Full Mitigation & Tested State: Handling how an FVG is displayed once fully mitigated. Depending on user settings, it might be hidden, or its box might change color/style to indicate it has been "tested." Mitigation lines can also be managed (kept or deleted). Midline Interaction: Visually tracking if the price has touched the FVG's 50% equilibrium level (midline). Visibility Control: Dynamically showing or hiding FVG drawings based on various criteria, such as user settings (e.g., hide mitigated FVGs, timeframe-specific visibility) or external filters (e.g., proximity to current price). Deletion: Cleaning up all drawing objects associated with an FVG when it's no longer needed or when settings dictate its removal. Centralized Drawing Logic By encapsulating all drawing-related operations within the methods of this library, the main indicator script is significantly simplified. The main script can focus on detecting FVGs and managing their state (e.g., in arrays), while delegating the complex task of rendering and updating them on the chart to the methods herein. Interaction with `fvgObject` and `drawSettings` UDTs All methods within this library operate on an instance of the `fvgObject` UDT. This `fvgObject` holds not only the FVG's price/time data and state (like `isMitigated`, `currentTop`) but also the IDs of its associated drawing elements (e.g., `boxId`, `midLineId`). The appearance of these drawings (colors, styles, visibility, etc.) is dictated by a `drawSettings` UDT instance, which is passed as a parameter to most drawing-related methods. This `drawSettings` object is typically populated from user inputs in the main script, allowing for extensive customization. Stateful Drawing Object Management The library's methods manage Pine Script™ drawing objects (boxes, lines, labels) by storing their IDs within the `fvgObject` itself (e.g., `fvgObject.boxId`, `fvgObject.mitigatedBoxId`, etc.). Methods like `draw()` create these objects and store their IDs, while methods like `updateDrawings()` modify them, and `deleteDrawings()` removes them using these stored IDs. Drawing Optimization The `updateDrawings()` method, which is the most comprehensive drawing management function, incorporates optimization logic. It uses `prev_*` fields within the `fvgObject` (e.g., `prevIsMitigated`, `prevCurrentTop`) to store the FVG's state from the previous bar. By comparing the current state with the previous state, and also considering changes in visibility or relevant drawing settings, it can avoid redundant and performance-intensive drawing operations if nothing visually significant has changed for that FVG. █ METHOD USAGE AND WORKFLOW The methods in this library are designed to be called in a logical sequence as an FVG progresses through its lifecycle. A crucial prerequisite for all visual methods in this library is a properly populated `drawSettings` UDT instance, which dictates every aspect of an FVG's appearance, from colors and styles to visibility and labels. This `settings` object must be carefully prepared in the main indicator script, typically based on user inputs, before being passed to these methods. Here’s a typical workflow within a main indicator script: 1. FVG Instance Creation (External to this library) An `fvgObject` instance is typically created by functions in another library (e.g., `FvgCalculations`) when a new FVG pattern is identified. This object will have its core properties (top, bottom, startTime, isBullish, tfType) initialized. 2. Initial Drawing (`draw` method) Once a new `fvgObject` is created and its initial visibility is determined: Call the `myFvg.draw(settings)` method on the new FVG object. `settings` is an instance of the `drawSettings` UDT, containing all relevant visual configurations. This method draws the primary FVG box, its midline (if enabled in `settings`), and any initial labels. It also initializes the `currentTop` and `currentBottom` fields of the `fvgObject` if they are `na`, and stores the IDs of the created drawing objects within the `fvgObject`. 3. Per-Bar State Updates & Interaction Checks On each subsequent bar, for every active `fvgObject`: Interaction Check (External Logic): It's common to first use logic (e.g., from `FvgCalculations`' `fvgInteractionCheck` function) to determine if the current bar's price interacts with the FVG. State Field Updates (External Logic): Before calling the `FvgObjectLib` methods below, ensure that your `fvgObject`'s state fields (such as `isMitigated`, `currentTop`, `currentBottom`, `isMidlineTouched`) are updated using the current bar's price data and relevant functions from other libraries (e.g., `FvgCalculations`' `checkMitigation`, `checkPartialMitigation`, etc.). This library's methods render the FVG based on these pre-updated state fields. If interaction occurs and the FVG is not yet fully mitigated: Full Mitigation Update (`updateMitigation` method): Call `myFvg.updateMitigation(high, low)`. This method updates `myFvg.isMitigated` and `myFvg.mitigationTime` if full mitigation occurs, based on the interaction determined by external logic. Partial Fill Update (`updatePartialFill` method): If not fully mitigated, call `myFvg.updatePartialFill(high, low, settings)`. This method updates `myFvg.currentTop` or `myFvg.currentBottom` and adjusts drawings to show the filled portion, again based on prior interaction checks and fill level calculations. Midline Touch Check (`checkMidlineTouch` method): Call `myFvg.checkMidlineTouch(high, low)`. This method updates `myFvg.isMidlineTouched` if the price touches the FVG's 50% level. 4. Comprehensive Visual Update (`updateDrawings` method) After the FVG's state fields have been potentially updated by external logic and the methods in step 3: Call `myFvg.updateDrawings(isVisibleNow, settings)` on each FVG object. `isVisibleNow` is a boolean indicating if the FVG should currently be visible. `settings` is the `drawSettings` UDT instance. This method synchronizes the FVG's visual appearance with its current state and settings, managing all drawing elements (boxes, lines, labels), their styles, and visibility. It efficiently skips redundant drawing operations if the FVG's state or visibility has not changed, thanks to its internal optimization using `prev_*` fields, which are also updated by this method. 5. Deleting Drawings (`deleteDrawings` method) When an FVG object is no longer tracked: Call `myFvg.deleteDrawings(deleteTestedToo)`. This method removes all drawing objects associated with that `fvgObject`. This workflow ensures that FVG visuals are accurately maintained throughout their existence on the chart. █ NOTES Dependencies: This library relies on `FvgTypes` for `fvgObject` and `drawSettings` definitions, and its methods (`updateMitigation`, `updatePartialFill`) internally call functions from `FvgCalculations`. Drawing Object Management: Be mindful of TradingView's limits on drawing objects per script. The main script should manage the number of active FVG objects. Performance and `updateDrawings()`: The `updateDrawings()` method is comprehensive. Its internal optimization (checking `hasStateChanged` based on `prev_*` fields) is crucial for performance. Call it judiciously. Role of `settings.currentTime`: The `currentTime` field in `drawSettings` is key for positioning time-dependent elements like labels and the right edge of non-extended drawings. Mutability of `fvgObject` Instances: Methods in this library directly modify the `fvgObject` instance they are called upon (e.g., its state fields and drawing IDs). Drawing ID Checks: Methods generally check if drawing IDs are `na` before acting on them, preventing runtime errors. █ EXPORTED FUNCTIONS method draw(this, settings)   Draws the initial visual representation of the FVG object on the chart. This includes the main FVG box, its midline (if enabled), and a label (if enabled for the specific timeframe). This method is typically invoked immediately after an FVG is first detected and its initial properties are set. It uses drawing settings to customize the appearance based on the FVG's timeframe type.   Namespace types: types.fvgObject   Parameters:      this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance to be drawn. Core properties (top, bottom, startTime, isBullish, tfType) should be pre-initialized. This method will initialize boxId, midLineId, boxLabelId (if applicable), and currentTop/currentBottom (if currently na) on this object.      settings (drawSettings type from no1x/FvgTypes/1) : A drawSettings object providing all visual parameters. Reads display settings (colors, styles, visibility for boxes, midlines, labels, box extension) relevant to this.tfType. settings.currentTime is used for positioning labels and the right boundary of non-extended boxes. method updateMitigation(this, highVal, lowVal)   Checks if the FVG has been fully mitigated by the current bar's price action.   Namespace types: types.fvgObject   Parameters:      this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Reads this.isMitigated, this.isVisible, this.isBullish, this.top, this.bottom. Updates this.isMitigated and this.mitigationTime if full mitigation occurs.      highVal (float) : The high price of the current bar, used for mitigation check.      lowVal (float) : The low price of the current bar, used for mitigation check. method updatePartialFill(this, highVal, lowVal, settings)   Checks for and processes partial fills of the FVG.   Namespace types: types.fvgObject   Parameters:      this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Reads this.isMitigated, this.isVisible, this.isBullish, this.currentTop, this.currentBottom, original this.top/this.bottom, this.startTime, this.tfType, this.isLV. Updates this.currentTop or this.currentBottom, creates/updates this.mitigatedBoxId, and may update this.boxId's top/bottom to reflect the filled portion.      highVal (float) : The high price of the current bar, used for partial fill check.      lowVal (float) : The low price of the current bar, used for partial fill check.      settings (drawSettings type from no1x/FvgTypes/1) : The drawing settings. Reads timeframe-specific colors for mitigated boxes (e.g., settings.mitigatedBullBoxColor, settings.mitigatedLvBullColor), box extension settings (settings.shouldExtendBoxes, settings.shouldExtendMtfBoxes, etc.), and settings.currentTime to style and position the mitigatedBoxId and potentially adjust the main boxId. method checkMidlineTouch(this, highVal, lowVal)   Checks if the FVG's midline (50% level or Equilibrium) has been touched.   Namespace types: types.fvgObject   Parameters:      this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Reads this.midLineId, this.isMidlineTouched, this.top, this.bottom. Updates this.isMidlineTouched if a touch occurs.      highVal (float) : The high price of the current bar, used for midline touch check.      lowVal (float) : The low price of the current bar, used for midline touch check. method deleteDrawings(this, deleteTestedToo)   Deletes all visual drawing objects associated with this FVG object.   Namespace types: types.fvgObject   Parameters:      this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Deletes drawings referenced by boxId, mitigatedBoxId, midLineId, mitLineId, boxLabelId, mitLineLabelId, and potentially testedBoxId, keptMitLineId. Sets these ID fields to na.      deleteTestedToo (simple bool) : If true, also deletes drawings for "tested" FVGs (i.e., testedBoxId and keptMitLineId). method updateDrawings(this, isVisibleNow, settings)   Manages the comprehensive update of all visual elements of an FVG object based on its current state (e.g., active, mitigated, partially filled) and visibility. It handles the drawing, updating, or deletion of FVG boxes (main and mitigated part), midlines, mitigation lines, and their associated labels. Visibility is determined by the isVisibleNow parameter and relevant settings (like settings.shouldHideMitigated or timeframe-specific show flags). This method is central to the FVG's visual lifecycle and includes optimization to avoid redundant drawing operations if the FVG's relevant state or appearance settings have not changed since the last bar. It also updates the FVG object's internal prev_* state fields for future optimization checks.   Namespace types: types.fvgObject   Parameters:      this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance to update. Reads most state fields (e.g., isMitigated, currentTop, tfType, etc.) and updates all drawing ID fields (boxId, midLineId, etc.), this.isVisible, and all this.prev_* state fields.      isVisibleNow (bool) : A flag indicating whether the FVG should be currently visible. Typically determined by external logic (e.g., visual range filter). Affects whether active FVG drawings are created/updated or deleted by this method.      settings (drawSettings type from no1x/FvgTypes/1) : A fully populated drawSettings object. This method extensively reads its fields (colors, styles, visibility toggles, timeframe strings, etc.) to render FVG components according to this.tfType and current state. settings.currentTime is critical for positioning elements like labels and extending drawings.
Libreria Pine Script®
di no1x
Gann Swing PointsIndicator Logic This is a GANN-style swing indicator that classifies bars based on their high/low structure relative to the previous bar. I strongly encourage you to replay bars on Tradingview using this indicator to get a sense of how it creates pivot (or swing) points Bar Classification: Up-Bar (direction: 'up'): Higher High and Higher Low (HH/HL) Down-Bar (direction: 'down'): Lower High and Lower Low (LH/LL) Outside-Bar (generates 2 directions): Green: 'down' then 'up' Red: 'up' then 'down' Inside-Bar: No direction generated (HL/LH) Swing Line Logic The swing line continues in the current direction until n opposite directions are detected. n is the "n-direction" parameter (commonly set to 2, so 2 consecutive opposite direction is needed to turn the swing) When n opposing directions occur, the swing turns, creating a pivot point Inside bar is ignored, so e.g up-bar -> inside-bar -> up-bar generates "up", "up" direction A top pivot is formed when the swing turns down A bottom pivot is formed when it turns up Note: This swing logic is inherently lagging — it only confirms tops/bottoms after the fact This swing structure gives the system a clear and noise-resistant way to identify pivot points (swing-points)
Indicatore Pine Script®
di Cjackjamie
Rate of Change HistogramExplanation of Modifications Converting ROC to Histogram: Original ROC: The ROC is calculated as roc = 100 * (source - source ) / source , plotted as a line oscillating around zero. Modification: Instead of plotting roc as a line, it’s now plotted as a histogram using style=plot.style_columns. This makes the ROC values visually resemble the MACD histogram, with bars extending above or below the zero line based on momentum. Applying MACD’s Four-Color Scheme: Logic: The histogram’s color is determined by: Above Zero (roc >= 0): Bright green (#26A69A) if ROC is rising (roc > roc ), light green (#B2DFDB) if falling (roc < roc ). Below Zero (roc < 0): Bright red (#FF5252) if ROC is falling (roc < roc ), light red (#FFCDD2) if rising (roc > roc ). Implementation: Used the exact color logic and hex codes from the MACD code, applied to the ROC histogram. This highlights momentum ebbs (falling ROC, fading waves) and flows (rising ROC, strengthening waves). Removing Signal Line: Unlike the previous attempt, no signal line is added. The histogram is purely the ROC value, ensuring it directly reflects price change momentum without additional smoothing, making it faster and more responsive to pulse waves, as you indicated ROC performs better than other oscillators. Alert Conditions: Added alerts to match the MACD’s logic, triggering when the ROC histogram crosses the zero line: Rising to Falling: When roc >= 0 and roc < 0, signaling a potential wave peak (e.g., end of Wave 3 or C). Falling to Rising: When roc <= 0 and roc > 0, indicating a potential wave bottom (e.g., start of Wave 1 or rebound). These alerts help identify transitions in 3-4 wave pulse patterns. Plotting: Histogram: Plotted as columns (plot.style_columns) with the four-color scheme, directly representing ROC momentum. Zero Line: Kept the gray zero line (#787B86) for reference, consistent with the MACD. Removed ROC Line/Signal Line: Since you want the ROC to act as the histogram itself, no additional lines are plotted. Inputs: Retained the original length (default 9) and source (default close) inputs for consistency. Removed signal-related inputs (e.g., signal_length, sma_signal) as they’re not needed for a pure ROC histogram. How This ROC Histogram Works for Wave Pulses Wave Alignment: Above Zero (Bullish Momentum): Positive ROC bars indicate flows (e.g., impulse Waves 1, 3, or rebounds in Wave B/C). Bright green bars show accelerating momentum (strong pulses), while light green bars suggest fading momentum (potential wave tops). Below Zero (Bearish Momentum): Negative ROC bars indicate ebbs (e.g., corrective Waves 2, 4, A, or C). Bright red bars show increasing bearish momentum (strong pullbacks), while light red bars suggest slowing declines (potential wave bottoms). 3-4 Wave Pulses: In a 3-wave A-B-C correction: Wave A (down) shows bright red bars (falling ROC), Wave B (up) shows bright/light green bars (rising ROC), and Wave C (down) shifts back to red bars. In a 4-wave consolidation: Alternating green/red bars highlight the rhythmic ebbs and flows as momentum oscillates. Timing: Zero-line crossovers mark wave transitions (e.g., from Wave 2 to Wave 3). Color changes (e.g., bright to light green) signal momentum shifts within waves, helping identify pulse peaks/troughs. Advantages Over MACD: The ROC histogram is more responsive than the MACD histogram because ROC directly measures price change percentage, while MACD relies on moving average differences, which introduce lag. This makes the ROC histogram better for capturing rapid 3-4 wave pulses, as you noted. Example Usage For a stock with 3-4 wave pulses on a 5-minute chart: Wave 1 (Flow): ROC rises above zero, histogram turns bright green (rising momentum), indicating a strong bullish pulse. Wave 2 (Ebb): ROC falls below zero, histogram shifts to bright red (falling momentum), signaling a corrective pullback. Wave 3 (Flow): ROC crosses back above zero, histogram becomes bright green again, confirming a powerful pulse. Wave 4 (Ebb): ROC dips slightly, histogram turns light green (falling momentum above zero) or light red (rising momentum below zero), indicating consolidation. Alerts trigger on zero-line crosses (e.g., from Wave 2 to Wave 3), helping time trades. Settings Recommendations Default (length=9): Works well for most time frames, balancing sensitivity and smoothness. Intraday Pulses: Use length=5 or length=7 for faster signals on 5-minute or 15-minute charts. Daily Charts: Try length=12 or length=14 for broader wave cycles. Testing: Apply to a stock with clear wave patterns (e.g., tech stocks like AAPL or TSLA) and adjust length to match the pulse frequency you observe. Notes Confirmation: Pair the ROC histogram with price action (e.g., Fibonacci retracements, support/resistance) to validate wave counts, as momentum oscillators can be noisy in choppy markets. Divergences: Watch for divergences (e.g., price makes a higher high, but ROC histogram bars are lower) to spot wave reversals, especially at Wave 3 or C ends. Comparison to MACD: The ROC histogram is faster and more direct, making it ideal for short-term pulse waves, but it may be more volatile, so use with technical levels for precision.
Indicatore Pine Script®
di Coulisnosaj
H4 3-Candle Pattern (Persistent Signals)Below is an example in Pine Script v5 that detects a pattern using the last three completed 4H candles and then plots a permanent arrow on the fourth candle (i.e. on the current bar) when the conditions are met. The arrow stays on that bar even after new bars form. In this version, the pattern is evaluated as follows on each bar (when there are enough candles): Bullish Pattern: The candle three bars ago (oldest of the three) is bullish (its close is greater than its open). The candle two bars ago closes above the high of that older candle. The last completed candle (one bar ago) closes at or above the low of the candle two bars ago. Bearish Pattern: The candle three bars ago is bearish (its close is less than its open). The candle two bars ago closes below the low of that older candle. The last completed candle closes at or below the high of the candle two bars ago. When the conditions are met the script draws a green up arrow below the current (fourth) candle for a bullish pattern and a red down arrow above the current candle for a bearish pattern. These arrows are drawn as regular plot symbols and remain on the chart permanently. Copy and paste the code into TradingView’s Pine Script Editor:
Indicatore Pine Script®
di xan5h33
Volume Predictor [PhenLabs]📊 Volume Predictor Version: PineScript™ v6 📌 Description The Volume Predictor is an advanced technical indicator that leverages machine learning and statistical modeling techniques to forecast future trading volume. This innovative tool analyzes historical volume patterns to predict volume levels for upcoming bars, providing traders with valuable insights into potential market activity. By combining multiple prediction algorithms with pattern recognition techniques, the indicator delivers forward-looking volume projections that can enhance trading strategies and market analysis. 🚀 Points of Innovation: Machine learning pattern recognition using Lorentzian distance metrics Multi-algorithm prediction framework with algorithm selection Ensemble learning approach combining multiple prediction methods Real-time accuracy metrics with visual performance dashboard Dynamic volume normalization for consistent scale representation Forward-looking visualization with configurable prediction horizon 🔧 Core Components Pattern Recognition Engine : Identifies similar historical volume patterns using Lorentzian distance metrics Multi-Algorithm Framework : Offers five distinct prediction methods with configurable parameters Volume Normalization : Converts raw volume to percentage scale for consistent analysis Accuracy Tracking : Continuously evaluates prediction performance against actual outcomes Advanced Visualization : Displays actual vs. predicted volume with configurable future bar projections Interactive Dashboard : Shows real-time performance metrics and prediction accuracy 🔥 Key Features The indicator provides comprehensive volume analysis through: Multiple Prediction Methods : Choose from Lorentzian, KNN Pattern, Ensemble, EMA, or Linear Regression algorithms Pattern Matching : Identifies similar historical volume patterns to project future volume Adaptive Predictions : Generates volume forecasts for multiple bars into the future Performance Tracking : Calculates and displays real-time prediction accuracy metrics Normalized Scale : Presents volume as a percentage of historical maximums for consistent analysis Customizable Visualization : Configure how predictions and actual volumes are displayed Interactive Dashboard : View algorithm performance metrics in a customizable information panel 🎨 Visualization Actual Volume Columns : Color-coded green/red bars showing current normalized volume Prediction Columns : Semi-transparent blue columns representing predicted volume levels Future Bar Projections : Forward-looking volume predictions with configurable transparency Prediction Dots : Optional white dots highlighting future prediction points Reference Lines : Visual guides showing the normalized volume scale Performance Dashboard : Customizable panel displaying prediction method and accuracy metrics 📖 Usage Guidelines History Lookback Period Default: 20 Range: 5-100 This setting determines how many historical bars are analyzed for pattern matching. A longer period provides more historical data for pattern recognition but may reduce responsiveness to recent changes. A shorter period emphasizes recent market behavior but might miss longer-term patterns. 🧠 Prediction Method Algorithm Default: Lorentzian Options: Lorentzian, KNN Pattern, Ensemble, EMA, Linear Regression Selects the algorithm used for volume prediction: Lorentzian: Uses Lorentzian distance metrics for pattern recognition, offering excellent noise resistance KNN Pattern: Traditional K-Nearest Neighbors approach for historical pattern matching Ensemble: Combines multiple methods with weighted averaging for robust predictions EMA: Simple exponential moving average projection for trend-following predictions Linear Regression: Projects future values based on linear trend analysis Pattern Length Default: 5 Range: 3-10 Defines the number of bars in each pattern for machine learning methods. Shorter patterns increase sensitivity to recent changes, while longer patterns may identify more complex structures but require more historical data. Neighbors Count Default: 3 Range: 1-5 Sets the K value (number of nearest neighbors) used in KNN and Lorentzian methods. Higher values produce smoother predictions by averaging more historical patterns, while lower values may capture more specific patterns but could be more susceptible to noise. Prediction Horizon Default: 5 Range: 1-10 Determines how many future bars to predict. Longer horizons provide more forward-looking information but typically decrease accuracy as the prediction window extends. 📊 Display Settings Display Mode Default: Overlay Options: Overlay, Prediction Only Controls how volume information is displayed: Overlay: Shows both actual volume and predictions on the same chart Prediction Only: Displays only the predictions without actual volume Show Prediction Dots Default: false When enabled, adds white dots to future predictions for improved visibility and clarity. Future Bar Transparency (%) Default: 70 Range: 0-90 Controls the transparency of future prediction bars. Higher values make future bars more transparent, while lower values make them more visible. 📱 Dashboard Settings Show Dashboard Default: true Toggles display of the prediction accuracy dashboard. When enabled, shows real-time accuracy metrics. Dashboard Location Default: Bottom Right Options: Top Left, Top Right, Bottom Left, Bottom Right Determines where the dashboard appears on the chart. Dashboard Text Size Default: Normal Options: Small, Normal, Large Controls the size of text in the dashboard for various display sizes. Dashboard Style Default: Solid Options: Solid, Transparent Sets the visual style of the dashboard background. Understanding Accuracy Metrics The dashboard provides key performance metrics to evaluate prediction quality: Average Error Shows the average difference between predicted and actual values Positive values indicate the prediction tends to be higher than actual volume Negative values indicate the prediction tends to be lower than actual volume Values closer to zero indicate better prediction accuracy Accuracy Percentage A measure of how close predictions are to actual outcomes Higher percentages (>70%) indicate excellent prediction quality Moderate percentages (50-70%) indicate acceptable predictions Lower percentages (<50%) suggest weaker prediction reliability The accuracy metrics are color-coded for quick assessment: Green: Strong prediction performance Orange: Moderate prediction performance Red: Weaker prediction performance ✅ Best Use Cases Anticipate upcoming volume spikes or drops Identify potential volume divergences from price action Plan entries and exits around expected volume changes Filter trading signals based on predicted volume support Optimize position sizing by forecasting market participation Prepare for potential volatility changes signaled by volume predictions Enhance technical pattern analysis with volume projection context ⚠️ Limitations Volume predictions become less accurate over longer time horizons Performance varies based on market conditions and asset characteristics Works best on liquid assets with consistent volume patterns Requires sufficient historical data for pattern recognition Sudden market events can disrupt prediction accuracy Volume spikes may be muted in predictions due to normalization 💡 What Makes This Unique Machine Learning Approach : Applies Lorentzian distance metrics for robust pattern matching Algorithm Selection : Offers multiple prediction methods to suit different market conditions Real-time Accuracy Tracking : Provides continuous feedback on prediction performance Forward Projection : Visualizes multiple future bars with configurable display options Normalized Scale : Presents volume as a percentage of maximum volume for consistent analysis Interactive Dashboard : Displays key metrics with customizable appearance and placement 🔬 How It Works The Volume Predictor processes market data through five main steps: 1. Volume Normalization: Converts raw volume to percentage of maximum volume in lookback period Creates consistent scale representation across different timeframes and assets Stores historical normalized volumes for pattern analysis 2. Pattern Detection: Identifies similar volume patterns in historical data Uses Lorentzian distance metrics for robust similarity measurement Determines strength of pattern match for prediction weighting 3. Algorithm Processing: Applies selected prediction algorithm to historical patterns For KNN/Lorentzian: Finds K nearest neighbors and calculates weighted prediction For Ensemble: Combines multiple methods with optimized weighting For EMA/Linear Regression: Projects trends based on statistical models 4. Accuracy Calculation: Compares previous predictions to actual outcomes Calculates average error and prediction accuracy Updates performance metrics in real-time 5. Visualization: Displays normalized actual volume with color-coding Shows current and future volume predictions Presents performance metrics through interactive dashboard 💡 Note: The Volume Predictor performs optimally on liquid assets with established volume patterns. It’s most effective when used in conjunction with price action analysis and other technical indicators. The multi-algorithm approach allows adaptation to different market conditions by switching prediction methods. Pay special attention to the accuracy metrics when evaluating prediction reliability, as sudden market changes can temporarily reduce prediction quality. The normalized percentage scale makes the indicator consistent across different assets and timeframes, providing a standardized approach to volume analysis.
Indicatore Pine Script®
di PhenLabs
Enhanced VSA Volume & Candle Colors with MA SelectionOverview: This script aims to enhance the visualization of volume spikes and price action by coloring volume bars and price candles dynamically based on the volume behavior. It allows traders to customize the type of volume moving average (SMA, EMA, or VWMA) used and apply various color schemes to highlight high, low, and extreme volume conditions. Additionally, alerts are generated when extreme or low-volume conditions occur. --------------------------------------------------------------------------------------------------------------------- Key Features: Customizable Volume Lookback Period: The script allows users to define the period for calculating the moving average of volume (default: 200). Volume Multiplier Settings: High and low volume thresholds are defined using multipliers. Users can adjust these to customize how volume is categorized (default multipliers: 1.5 for high volume, 0.5 for low volume). Percentile-Based Extreme Volume Detection: The script calculates a percentile threshold for extreme volume (default: 90th percentile) based on the volume data, highlighting exceptionally high volume spikes. Moving Average Selection: Users can choose between Simple Moving Average (SMA), Exponential Moving Average (EMA), or Volume Weighted Moving Average (VWMA) to track volume trends over the selected lookback period. Volume-Based Price Bar Coloring: Price bars can be colored according to the volume conditions (high, low, or extreme). This feature can be toggled on or off. Dynamic Transparency and Color Customization: The script allows users to set custom colors for different volume conditions (high, low, neutral, extreme) and adjusts the transparency of volume bars based on the relative size of the volume. Alerts: Alerts can be set for when extreme volume spikes or low volume conditions are detected. --------------------------------------------------------------------------------------------------------------------- Script Components: Volume Histogram Plot: Displays the volume bars with dynamic coloring based on the volume condition (high, low, or extreme). The color of the bars adjusts for clarity, with transparency based on volume levels. Moving Average Plot: Plots the selected volume moving average (SMA, EMA, or VWMA) to visualize the trend of volume over the chosen lookback period. Smoothed Average Volume (EMA of Volume): A smoothed EMA line is plotted to provide a clear representation of volume trends over time. Price Bar Coloring: If enabled, price bars are colored according to the current volume condition, providing immediate visual feedback to the trader. --------------------------------------------------------------------------------------------------------------------- How It Can Be Used: Volume Analysis for Entry/Exit Points: Traders can use the volume conditions (high, low, and extreme) to identify potential entry or exit points. High-volume bars often signal strong market activity, while low-volume bars may indicate consolidation or indecision. Volume Confirmation for Trend Reversal: Extreme volume spikes can sometimes precede significant price movements. Traders can monitor these spikes for potential trend reversal signals. Customizing Alerts: Alerts based on volume conditions help traders stay updated on important volume events without constantly monitoring the chart. Color-Coded Price Action: The dynamic coloring of price bars makes it easier to identify periods of strong or weak market participation, allowing traders to make informed decisions quickly. --------------------------------------------------------------------------------------------------------------------- Compliance with TradingView's House Rules: No Promotion of Financial Products: The script does not promote any specific financial instruments or products, ensuring compliance with TradingView’s content guidelines. Clear Functionality: The script provides clear, functional analysis tools without making unsupported claims about predicting market movements. No Automated Trading: The script does not include any automated trading or order execution features, which complies with TradingView’s policy on non-automated scripts. This breakdown ensures clarity on the script’s purpose, features, and how it might be used by traders. It's written in a way that fits TradingView's content guidelines, keeping the focus on providing valuable analytical tools rather than making promises or promoting any financial product.
Indicatore Pine Script®
di ViZiV
Advanced Support and Resistance Levels[MAP]Advanced Support and Resistance Levels Indicator Author Developed by: Overview The "Advanced Support and Resistance Levels" indicator, created, is a sophisticated tool designed for TradingView's Pine Script v6 platform. It identifies and plots key support and resistance levels on a price chart, enhancing technical analysis by incorporating pivot strength, volume weighting, and level decay. The indicator overlays lines, zones, and labels on the chart, providing a visual representation of significant price levels where the market has historically reversed or consolidated. Purpose This indicator, authored by , aims to: Detect significant pivot points (highs and lows) with customizable strength requirements. Track and rank support/resistance levels based on their recency, volume, and number of touches. Display these levels as lines and optional zones, with strength-based visual cues (e.g., line thickness and opacity). Offer flexibility through user-configurable settings to adapt to different trading styles and market conditions. Features Pivot Detection: Identifies high and low pivots using a strength parameter, requiring a specified number of bars on either side where no higher highs or lower lows occur. Incorporates closing price checks and SMA-based trend confirmation to filter out noise and ensure pivots align with the broader market direction. Level Management: Maintains a dynamic array of levels with attributes: price, type (support/resistance), bars since last touch, strength, and volume. Merges nearby levels within a tolerance percentage, updating prices with a strength-weighted average. Prunes weaker or older levels when exceeding the maximum allowed, prioritizing those with higher calculated strength. Strength Calculation: Combines the number of touches (strength), volume (if enabled), and age decay (if enabled) into a single metric. Volume weighting uses a logarithmic scale to emphasize high-volume pivots without over-amplifying extreme values. Age decay reduces the importance of older levels over time, ensuring relevance to current price action. Visualization: Draws horizontal lines at each level, with thickness reflecting the number of touches (up to a user-defined maximum). Optional price zones around levels, sized as a percentage of the price, to indicate areas of influence. Labels display the level type (S for support, R for resistance), price, and strength score, with position (left or right) customizable. Line opacity varies with strength, providing a visual hierarchy of level significance. Plots small triangles at detected pivot points for reference. Inputs Lookback Period (lookback, default: 20): Number of bars to consider for trend confirmation via SMA. Range: 5–100. Pivot Strength (strength, default: 2): Number of bars required on each side of a pivot to confirm it. Range: 1–10. Price Tolerance % (tolerance, default: 0.5): Percentage range for merging similar levels. Range: 0.1–5. Max Levels to Show (maxLevels, default: 10): Maximum number of levels displayed. Range: 2–50. Zone Size % (zoneSizePercent, default: 0.1): Size of the S/R zone as a percentage of the price. Range: 0–1. Line Width (lineWidth, default: 1): Maximum thickness of level lines. Range: 1–5. Show Labels (showLabels, default: true): Toggle visibility of level labels. Label Position (labelPos, default: "Right"): Position of labels ("Left" or "Right"). Level Strength Decay (levelDecay, default: true): Enable gradual reduction in strength for older levels. Volume Weighting (volumeWeight, default: true): Incorporate volume into level strength calculations. Support Color (supportColor, default: green): Color for support levels. Resistance Color (resistColor, default: red): Color for resistance levels. How It Works Pivot Detection: Checks for pivots only after enough bars (2 * strength) have passed. A high pivot requires strength bars before and after with no higher highs or closes, and a short-term SMA above a long-term SMA. A low pivot requires strength bars before and after with no lower lows or closes, and a short-term SMA below a long-term SMA. Level Tracking: New pivots create levels with initial strength and volume. Existing levels within tolerance are updated: strength increases, volume takes the maximum value, and price adjusts via a weighted average. Levels older than lookback * 4 bars with strength below 0.5 are removed. If the number of levels exceeds maxLevels, the weakest (by calculated strength) are pruned using a selection sort algorithm. Drawing: Updates on the last confirmed bar or in real-time. Lines extend lookback bars left and right from the current bar, with thickness based on touches. Zones (if enabled) are drawn symmetrically around the level price. Labels show detailed info, with opacity tied to strength. Usage Add to Chart: Apply the indicator to any TradingView chart via the Pine Script editor, as designed by . Adjust Settings: Customize inputs to match your trading strategy (e.g., increase strength for stronger pivots, adjust tolerance for tighter level merging). Interpret Levels: Focus on thicker, less transparent lines for stronger levels; use zones to identify potential reversal areas. Combine with Other Tools: Pair with trend indicators or oscillators for confluence in trading decisions. Notes Performance: The indicator uses arrays and sorting, which may slow down on very long charts with many levels. Keep maxLevels reasonable for efficiency. Accuracy: Enhanced by trend confirmation and volume weighting, making it more reliable than basic S/R indicators, thanks to 's design. Limitations: Real-time updates may shift levels as new pivots form; historical levels are more stable. Example Settings For day trading: lookback=10, strength=1, tolerance=0.3, maxLevels=5. For swing trading: lookback=50, strength=3, tolerance=0.7, maxLevels=10. Credits Author: – Creator of this advanced support and resistance tool, blending precision and customization for traders.
Indicatore Pine Script®
di HappyTraderSPX
1
Cumulative Price Change AlertCumulative Price Change Alert Version: 1.0 Author: QCodeTrader 🚀 Overview 🔍 The Cumulative Price Change Alert indicator analyzes the percentage change between the current and previous open prices and sums these changes over a user-defined number of bars. It then generates visual buy and sell signals using arrows and labels on the chart, helping traders spot cumulative price momentum and potential trading opportunities. Key Features ⚙️ Customizable Timeframe 🕒: Use a custom timeframe or default to the chart's timeframe for price data. User-Defined Summation 🔢: Specify the number of bars to sum, allowing you to analyze cumulative price changes. Custom Buy & Sell Conditions 🔔: Set individual percentage change thresholds and cumulative sum thresholds to tailor signals for your strategy. Visual Alerts 🚀: Displays green upward arrows for buy signals and red downward arrows for sell signals directly on the chart. Informative Labels 📝: Provides labels with formatted percentage change and cumulative sum details for the analyzed bars. Versatile Application 📊: Suitable for stocks, forex, crypto, commodities, and more. How It Works ⚡ Price Change Calculation ➗: The indicator calculates the percentage change between the current bar's open price and the previous bar's open price. Cumulative Sum ➕: It then sums these percentage changes over the last N bars (as specified by the user). Signal Generation 🚦: Buy Signal 🟢: When both the individual percentage change and the cumulative sum exceed their respective buy thresholds, a green arrow and label are displayed. Sell Signal 🔴: Conversely, if the individual change and cumulative sum fall below the sell thresholds, a red arrow and label are shown. How to Use 💡 Add the Indicator ➕: Apply the indicator to your chart. Customize Settings ⚙️: Set a custom timeframe if desired. Define the number of bars to sum. Adjust the buy/sell percentage change and cumulative sum thresholds to match your trading strategy. Interpret Visual Cues 👀: Monitor the chart for green or red arrows and corresponding labels that signal potential buy or sell opportunities based on cumulative price movements. Settings Explained 🛠️ Custom Timeframe: Select an alternative timeframe for analysis, or leave empty to use the current chart's timeframe. Number of Last Bars to Sum: Determines how many bars are used to compute the cumulative percentage change. Buy Condition - Min % Change: The minimum individual percentage change required to consider a buy signal. Buy Condition - Min Sum of Bars: The minimum cumulative percentage change over the defined bars needed for a buy signal. Sell Condition - Max % Change: The maximum individual percentage change threshold for a sell signal. Sell Condition - Max Sum of Bars: The maximum cumulative percentage change over the defined bars for triggering a sell signal. Best Use Cases 🎯 Momentum Identification 📈: Quickly spot strong cumulative price movements and momentum shifts. Entry/Exit Signals 🚪: Use the visual signals to determine potential entry and exit points in your trading. Versatile Strategy Application 🔄: Effective for scalping, swing trading, and longer-term analysis across various markets. UPD: uncheck labels for better performance
Indicatore Pine Script®
di QCodeTrader
Time Change Indicator-AYNETDetailed Scientific Explanation of the Time Change Indicator Code This Pine Script code implements a financial indicator designed to measure and visualize the percentage change in the closing price of an asset over a specified timeframe. It uses historical data to calculate changes and displays them as a histogram for intuitive analysis. Below is a comprehensive scientific breakdown of the code: 1. User Inputs The script begins by defining user-configurable parameters, enabling flexibility in analysis: timeframe: The user selects the timeframe for measuring price changes (e.g., 1 hour, 1 day). This determines the granularity of the analysis. positive_color and negative_color: Users choose the colors for positive and negative changes, enhancing visual interpretation. 2. Data Retrieval The script employs request.security to fetch closing price data (close) for the specified timeframe. This function ensures that the indicator adapts to different timeframes, providing consistent results regardless of the chart's base timeframe. Current Closing Price (current_close): current_close = request.security(syminfo.tickerid, timeframe, close) current_close=request.security(syminfo.tickerid, timeframe, close) Retrieves the closing price for the defined timeframe. Previous Closing Price (prev_close): The script uses a variable (prev_close) to store the previous closing price. This variable is updated dynamically as new data is processed. 3. Price Change Calculation The script calculates both the absolute and percentage change in closing price: Absolute Price Change (price_change): price_change = current_close − prev_close price_change=current_close−prev_close Measures the difference between the current and previous closing prices. Percentage Change (percent_change): percent_change = price_change prev_close × 100 percent_change= prev_close price_change ​ ×100 Normalizes the change relative to the previous closing price, making it easier to compare changes across different assets or timeframes. 4. Conditional Logic for Visualization The script uses a conditional statement to determine the color of each histogram bar: Positive Change: If price_change > 0, the bar is assigned the user-defined positive_color. Negative Change: If price_change < 0, the bar is assigned the negative_color. This differentiation provides a clear visual cue for understanding price movement direction. 5. Visualization The script visualizes the percentage change using a histogram and enhances the chart with dynamic labels: Histogram (plot.style_histogram): Each bar represents the percentage change for a given timeframe. Bars above the zero line indicate positive changes, while bars below the zero line indicate negative changes. Zero Line (hline(0)): A reference line at zero provides a baseline for interpreting changes. Dynamic Labels (label.new): Each bar is annotated with its exact percentage change value. The label's position and color correspond to the bar, improving clarity. 6. Algorithmic Flow Data Fetching: Retrieve the current and previous closing prices for the specified timeframe. Change Calculation: Compute the absolute and percentage changes between the two prices. Bar Coloring: Determine the color of the histogram bar based on the change's direction. Plotting: Visualize the changes as a histogram and add labels for precise data representation. 7. Applications This indicator has several practical applications in financial analysis: Volatility Analysis: By visualizing percentage changes, traders can assess the volatility of an asset over specific timeframes. Trend Identification: Positive and negative bars highlight periods of upward or downward momentum. Cross-Asset Comparison: Normalized percentage changes enable the comparison of price movements across different assets, regardless of their nominal values. Market Sentiment: Persistent positive or negative changes may indicate prevailing bullish or bearish sentiment. 8. Scientific Relevance This script applies fundamental principles of data visualization and time-series analysis: Statistical Normalization: Percentage change provides a scale-invariant metric for comparing price movements. Dynamic Data Processing: By updating the prev_close variable with real-time data, the script adapts to new market conditions. Visual Communication: The use of color and labels improves the interpretability of quantitative data. Conclusion This indicator combines advanced Pine Script functions with robust financial analysis techniques to create an effective tool for evaluating price changes. It is highly adaptable, providing users with the ability to tailor the analysis to their specific needs. If additional features, such as smoothing or multi-timeframe analysis, are required, the code can be further extended.
Indicatore Pine Script®
di Aynet-London
Price Action All In OneThis indicator represents the most advanced level of price action indicators, incorporating six useful features: traditional gaps, shadow gaps, bar counting, moving averages, previous values, and IO pattern matching . When I refer to price action, I mean the teachings of Dr. Al Brooks. While you can find these features in other indicators, mine is more advanced. The default settings are designed to work on a 5-minute timeframe, but you can also use this indicator on other time periods if you prefer. Gaps Traditional Gaps: Occurs when the lowest price of a bar is higher than the highest price of the previous bar, or the highest price of a bar is lower than the lowest price of the previous bar. Shadow/Tail Gaps: Occurs when the lowest price of a bar is higher than the highest price of the second last bar, or the highest price of a bar is lower than the lowest price of the second last bar. Gaps indicate strength, and consecutive gaps in one direction are characteristic of a strong trend. They offer a perspective on the strength of a trend, signifying that limit orders on one side are at a loss with no opportunity to exit at breakeven. Can bulls or bears create gaps? Are the gaps they create filled, or do they remain open? Traditional Gaps & Shadow/Tail Gaps Bar Counting The ability to use different timeframes (e.g., to determine the minute within an hour or the hour within a week). Consistent display of 1; in other indicators, if you set intervals to 2, you see 2, 4, 6, etc., or 1, 2, 4, 6. In my indicator, you will see 1, 3, 5, etc. In intraday trading, certain specific times are more important than others. For example, a form of reversal is more likely to occur at the midpoint of the trading day (if there are 80 candles in a day, the midpoint is at the 40th candle). This doesn't mean you should make reversal trades at the 40th candle. The bar count feature simply reminds you of the current time, helping you gauge how long until the trading day ends. For instance, if there are 80 candles in a day and you're an intraday trader, you probably shouldn't make a swing trade at the 70th candle because there are only 10 candles left until the close—likely not enough time for a swing to develop. Additionally, if you trade on a 5-minute timeframe, seeing candles numbered 3, 6, 9, etc. indicates the close of a 15-minute candle. This means that in addition to 5-minute timeframe traders, 15-minute timeframe traders will also pay attention to these candles, making them more significant. For the same reason, the 12th candle is crucial, as its close also marks the close of an hourly candle. Day Time Frame & Week Time Frame Moving Averages Provides three EMAs. You can set different timeframes and choose between continuous or discrete modes. Moving averages are excellent tools for determining trends. The 20 EMA is particularly popular, which increases its significance. Traders using different timeframes, such as 5-minute, 15-minute, and 1-hour, all utilize the 20 EMA. This indicator allows you to see what traders on 15-minute and 1-hour timeframes are observing, even when you're on a 5-minute timeframe. Once again, the default settings of this indicator assume that the user is trading intraday on a 5-minute timeframe. However, if that's not the case, you can easily adjust the moving average periods. For instance, if you trade on a 1-hour timeframe and want to display the 4-hour and daily moving averages on your chart, this can be done effortlessly. 5m 20, 15m 20 & 1h 20 Previous Values Features three previous value displays. You can set their sources and timeframes independently and define the range for all previous values. For intraday trading, marking the previous day's high, low, and close prices can be crucial. While some other indicators provide this feature, mine does it better. You can set different timeframes and choose various sources. For example, you might want to display the average of (O+H+L+C)/4 for the last week. In addition to setting the timeframe and source, you can also configure the display range: All: This will show the data in all positions. For example, you can see the high price from two days ago on yesterday's chart. Today: This will only display the previous day's high price on the current day's chart. Timeframe: This will display the data based on the specified timeframe you set. Last Week High, Last Day Close & Low(Timeframe Display) IO Pattern Matching More advanced than other IO pattern matching indicators. For adjacent IIs, it merges to display as III, IIII, and so on. The same applies to OO patterns. Additionally, it automatically merges adjacent IOI and II into IOII, and adjacent OO and IOI into IIOI. II Pattern: This refers to two consecutive inside bar candles. On a lower timeframe, the II pattern forms a converging triangle, which is a breakout pattern. The II pattern could also potentially become a final flag, which is the last flag in a trend. OO Pattern: This refers to two consecutive outside bar candles. On a lower timeframe, the OO pattern forms an expanding triangle. You can use the OO pattern similarly to how you would use an expanding triangle. IOI Pattern: This pattern occurs when the first candle is contained within the second candle, and the third candle is also contained within the second candle. This is a breakout pattern and could similarly represent a terminal flag in a trend. The appearance of II, OO, or IOI patterns does not necessarily mean you should make a reversal trade. These patterns are meant to mark potential moves in a lower timeframe within the current cycle, providing a new perspective on the market and reminding you to stay vigilant. You shouldn't look for IO patterns in a tight trading range. There are many IO patterns in a tight trading range, but they don't hold much significance. II, OO & IOI
Indicatore Pine Script®
di fengyangsi
16
Common Volume Spike Indicator with Price Color on SpikeIndicator Name: Common Volume Spike Indicator with Price Color on Spike Description: The “Common Volume Spike Indicator with Price Color on Spike” is designed to detect significant volume spikes and highlight them on the chart. It not only identifies moments when the trading volume exceeds a certain threshold but also colors the price bars based on price movement during these spikes. Key Features: • Volume Spike Detection: Detects volume spikes when the current volume exceeds a specified multiple of the average volume over a user-defined lookback period. • Dynamic Volume Break: Highlights bars where the volume exceeds a threshold, dynamically calculated as a multiple of the average volume (default is 10x the average volume). • Price Color on Volume Spike: When a volume spike occurs, bars are colored green if the price closes higher than the previous bar, and red if the price closes lower. This feature helps traders easily identify significant price movements during high-volume periods. • Customizable Parameters: • Threshold Multiplier: Adjust the sensitivity of volume spike detection. • Lookback Period: Define the period over which the average volume is calculated. • Volume Break Multiplier: Set a multiplier for the average volume to identify extreme volume breaks. This indicator is suitable for traders who want to quickly spot critical market events driven by significant increases in volume. It helps to visualize both the volume activity and the corresponding price movement, providing an additional layer of market insight. How to Use: 1. Green Bars: When the volume spike condition is met and the price closes higher than the previous bar, the bar is colored green. 2. Red Bars: When the volume spike condition is met and the price closes lower than the previous bar, the bar is colored red. 3. Blue Bars: Indicates a significant volume break, where the current volume exceeds a specified multiple of the average volume (default: 10x). Ideal for intraday and swing traders who rely on volume and price action for market entries and exits. This indicator works well across different asset classes, including stocks, forex, and cryptocurrencies. You can adjust the input parameters to fit your specific trading strategy and timeframe. Disclaimer: This indicator is a tool to help with market analysis and should not be considered financial advice. Always perform your own due diligence before making any trading decisions. This description outlines the key functionality and how the indicator can benefit traders on TradingView.
Indicatore Pine Script®
di obadiah26o8xkx
1
VWAP with Trend Alerts [CrossTrade]The VWAP with Trend Alerts indicator is designed to provide a comprehensive visual and analytical tool for traders using the Volume Weighted Average Price (VWAP) along with additional features like custom bar coloring and trend-based signal alerts. Key Components and Functionalities: 1. VWAP Calculation: The core of this indicator is the VWAP, which represents the average price of an asset, weighted by volume. It's a popular tool among traders to identify the general direction and strength of a trend, and for assessing entry and exit points. 2. Standard Deviation Bands: Surrounding the VWAP are multiple bands calculated based on standard deviation values. These bands serve as dynamic support and resistance levels. The script allows up to three bands, each with customizable multipliers, giving insights into price volatility and potential breakout or reversal points. 3. Bar Coloring Options: - Color All Bars: When enabled, all bars on the chart are colored based on whether they close above (green) or below (red) the VWAP. - Trend Bars Only: This option, when selected, colors only the bars that close beyond the second standard deviation band. It helps in identifying stronger trends and significant market movements. 4. Buy and Sell Signal Conditions: The script includes conditions for buy and sell signals specifically tailored for trend bars. A buy signal is generated when a bar closes above both the VWAP and the upper second standard deviation band, indicating a potential strong uptrend. Conversely, a sell signal is triggered when a bar closes below both the VWAP and the lower second standard deviation band, suggesting a strong downtrend. 5. Alert Conditions: To aid in timely decision-making, the script features alert conditions corresponding to the buy and sell signals. Usage and Application: - For Trend Identification: The VWAP and its bands can help identify the prevailing market trend. Bars closing consistently above the VWAP suggest an uptrend, while those closing below indicate a downtrend. - Volatility Assessment: The standard deviation bands provide a visual representation of market volatility. Narrower bands suggest low volatility, while wider bands indicate high volatility. - Signal Alerts for Trading: The buy and sell signals, especially those filtered by the trend bars condition, can be valuable for traders looking for strong movement confirmations. Flexibility and Customization: This indicator is highly customizable and builds off of the core logic found in standard VWAP indicators. By allowing traders to adjust the standard deviation multipliers and choose their preferred bar coloring strategy. It caters to various trading styles, whether focusing on the broader market trend or pinpointing significant trend-based movements.
Indicatore Pine Script®
di CrossTradeTeam
Moving average to price cloudHi all! This indicator shows when the price crosses the defined moving average. It plots a green or red cloud (depending on trend) and the moving average. It also plots an arrow when the trend changes (this can be disabled in 'style'->'labels' in the settings). The moving average itself can be used as dynamic support/resistance. The trend will change based on your settings (described below). By default the trend will change when the whole bar is above/below the moving average for 2 bars (that's closed). This can be changed by "Source" and "Bars". Settings • Length (choose the length of the moving average. Defaults to 21) • Type (choose what type of moving average). - "SMA" (Simple Moving Average) - "EMA" (Exponential Moving Average) - "HMA" (Hull Moving Average) - "WMA" (Weighted Moving Average) - "VWMA" (Volume Weighted Moving Average) - "DEMA" (Double Exponential Moving Average) Defaults to"EMA". • Source (Define the price source that must be above/below the moving average for the trend to change. Defaults to 'High/low (passive)') - 'Open' The open of the bar has to cross the moving average - 'Close' The close of the bar has to cross the moving average - 'High/low (passive)' In a down trend: the low of the bar has to cross the moving average - 'High/low (aggressive)' In a down trend: the high of the bar has to cross the moving average • Source bar must be close. Defaults to 'true'. • Bars (Define the number bars whose value (defined in 'Source') must be above/below the moving average. All the bars (defined by this number) must be above/below the moving average for the trend to change. Defaults to 2.) Let me know if you have any questions. Best of trading luck!
Indicatore Pine Script®
di mickes
Uptrick: Volume StrengthPurpose: The "Uptrick: Volume Strength" indicator, known by its short title 'VolStrength,' is meticulously designed to evaluate the strength of volume activity within a market, providing traders with valuable insights into liquidity dynamics. By visualizing volume bars and comparing them to a predefined threshold, traders can gauge the intensity of buying or selling pressure, thereby assessing market liquidity and potential price movements. Explanation: Input Parameters: Traders benefit from the ability to customize the threshold for high volume, allowing them to adapt the indicator to varying market conditions and trading strategies. The calculation of the average volume over a specified period adds depth to the analysis, offering traders a reference point for assessing current volume levels relative to historical averages and evaluating liquidity trends. Volume Analysis: The script discerns between bars where the closing price exceeds the opening price (up bars) and bars where the closing price is lower than the opening price (down bars), facilitating the identification of bullish or bearish market sentiment. High-volume bars that surpass the predefined threshold are prominently highlighted, serving as indicators of increased trading activity and enhanced liquidity levels. Average Volume Visualization: A line representing the average volume over the specified period is plotted on the chart, providing traders with a visual reference for evaluating current volume levels against historical averages. This aids in assessing the overall liquidity conditions in the market. Volume Bar Representation: The colorization of volume bars is contingent upon their direction (up or down) and whether they exceed the high volume threshold. Up bars, symbolizing buying pressure, are typically depicted in green, while down bars, indicative of selling pressure, are rendered in red. Notably, when volume surpasses the high volume threshold, the respective bar color is applied, accentuating significant volume spikes and their potential impact on liquidity and price dynamics. Through its meticulous design and comprehensive features, the "Uptrick: Volume Strength" indicator equips traders with actionable insights into market liquidity dynamics. By integrating volume analysis into their trading strategies, traders can effectively assess liquidity conditions, identify potential price movements, and make informed trading decisions.
Indicatore Pine Script®
di Uptrick
Median RSI**Description:** The "Median RSI with Buy/Sell Signals and Bar Color" indicator on TradingView calculates the median Relative Strength Index (RSI) alongside buy and sell signals and customizable bar colors. RSI is a momentum oscillator that measures the speed and change of price movements. This indicator provides traders with insights into the relative strength of a security by comparing its recent gains to its recent losses. **How it Works:** 1. **RSI Calculation:** The script computes the RSI using a specified length parameter. This RSI value indicates whether a security is overbought or oversold, helping traders identify potential reversal points. 2. **Median RSI Calculation:** It calculates the highest and lowest RSI values over a certain period and finds the median value. This median RSI acts as a benchmark, guiding traders in assessing the relative strength of a security compared to its recent performance. 3. **Bar Color Customization:** The script allows users to customize the bar color based on the relationship between the RSI and the median RSI. Bars are colored differently to visually represent whether the RSI is above, below, or equal to the median RSI. Additionally, the script highlights bars when they cross the median RSI, providing visual cues for potential shifts in market momentum. **Benefits:** - **RSI Insights:** Provides insights into the relative strength of a security by comparing its recent gains to its recent losses. - **Buy/Sell Signals:** Generates buy and sell signals based on the RSI crossing above or below the median RSI, aiding traders in timing their trades. - **Customizable Bar Colors:** Allows traders to customize bar colors based on the relationship between the RSI and the median RSI, facilitating quick visual analysis. - **Visual Representation:** Visualizes the RSI median RSI, and bar color on the price chart for easy interpretation. **Ideal Usage:** - **Trend Confirmation:** Traders can use the indicator to confirm the direction of the trend before entering trades. - **Reversal Signals:** Changes in RSI direction, indicated by crosses above or below the median RSI, can signal potential reversals in market momentum. - **Combination with Other Indicators:** It can be used in conjunction with other technical indicators to enhance trading strategies, providing additional confirmation signals. **Warnings:** - **False Signals:** Like any technical indicator, false signals may occur, especially during periods of low volume or choppy market conditions. Additional analysis and risk management techniques should be used to avoid potential losses. - **Parameter Sensitivity:** Traders should test different parameter settings and consider market conditions when using the indicator, as adjustments may affect its sensitivity to price movements. By providing insights into RSI dynamics, and offering customizable bar colors, the "Median RSI with Buy/Sell Signals and Bar Color" indicator equips traders with valuable tools for technical analysis and decision-making in the financial markets.
Indicatore Pine Script®
di HabibiBudo
1
Kaufman Efficiency Ratio-Based Risk PercentageOVERVIEW The Kaufman Efficiency Ratio-Based Exposure Management indicator uses the Kaufman Efficiency Ratio (KER) to calculate how much you should risk per trade. If KER is high, then the indicator will tell you to risk more per trade. A high KER value indicates a trending market, so if you are a trend trader, it makes sense to risk more during these times. If KER is low, then the indicator will tell you to risk less per trade. A low KER value indicates a trending market, so if you are a trend trader, it makes sense to risk less during these times. CONCEPTS The Kaufman Efficiency Ratio (also known as the Efficiency Ratio, KER, or ER) is a separate indicator developed by Perry J. Kaufman and first published in Kaufman's book, "New Trading Systems and Methods" in 1987. The KER used to measure the efficiency of a financial instrument's price movement. It is calculated as follows: KER = (change in price over x bars) / (sum of absolute price changes over x bars) The first part of the formula, "change in price over x bars" measures the difference between the current close price and the close price x bars ago. The second part of the formula "sum of absolute price changes over x bars" measures the sum of the |open-close| range of each bar between now and x bars ago. If there is a high change in price over x bars relative to the sum of absolute price changes over x bars, a trending/volatile market is likely in place. If there is a low change in price over x bars relative to the sum of absolute price changes over x bars, a ranging/choppy market is likely in place. If you are a trend trader, you can assume that entries taken during high KER periods are more likely to lead to a trend. This indicator helps capitalize on that assumption by increasing risk % per trade during high KER periods, and decreasing risk % per trade during low KER periods. It uses the following formulas to calculate a KER-adjusted risk % per trade: Linearly-increasing risk % = min risk + (KER * (max risk - min risk)) Exponentially-increasing risk % = min risk + ((KER^n) * (max risk - min risk)) min risk = the smallest amount you'd be willing to risk on a trade max risk = the largest amount you'd be willing to risk on a trade KER = the current Kaufman Efficiency Ratio value n = an exponent factor used to control the rate of increase of the risk % Here is an example of how these formulas work: Assuming that min risk is 0.5%, max risk is 2%, and KER is 0.8 (indicating a trending market), we can calculate the following risk per trade amounts: Linearly-increasing risk % = 0.5 + (0.8 * (2 - 0.5)) = 1.7% Exponentially-increasing risk % = 0.5 + ((0.8^3) * (2 - 0.5)) = 1.27% Now, lets do the same calculations with a lower KER of 0.2 , which indicates a choppy market: Linearly-increasing risk % = 0.5 + (0.2 * (2 - 0.5)) = 0.8% Exponentially-increasing risk % = 0.5 + ((0.2^3) * (2 - 0.5)) = 0.51% With a high KER, we risk more per trade to capitalize on the higher chance of a trending market. With a lower KER, we risk less per trade to protect ourselves from the higher chance of a choppy market.
Indicatore Pine Script®
di bjr117
4