[blackcat] L3 Hull SeekerOVERVIEW
The L3 Hull Seeker is a comprehensive trading indicator that combines Hull Moving Average (HMA) analysis with robust position management and risk control features. This script is designed to help traders identify potential entry and exit points while maintaining strict risk management protocols.
KEY FEATURES
• Hull MA Analysis:
Advanced Hull Moving Average calculations
Separate Hull MA lines for Close and Open prices
Visual color coding for trend direction
Customizable length parameter for flexibility
• Position Tracking:
Real-time monitoring of long and short positions
Maximum position limit control
Clear position status indicators on chart
• Risk Management System:
User-defined Take Profit percentage
User-defined Stop Loss percentage
Optional activation of TP/SL features
Dynamic label markers for important levels
• Alert System:
Buy/Sell entry alerts
Take Profit/Stop Loss exit alerts
Position status changes
HOW TO USE
Setup Initial Parameters:
Hull MA Length: Adjust based on your trading timeframe
Take Profit Percentage: Set according to your risk tolerance
Stop Loss Percentage: Define your maximum acceptable loss
Enable/Disable Features:
Toggle Take Profit/Stop Loss options as needed
Adjust alert conditions for your trading style
Monitor Trading Signals:
Watch for crossover/crossunder signals
Track position status through labels
Monitor entry and exit alerts
Manage Risk:
Use TP/SL features to control position size
Monitor pyramiding limits
Review position status regularly
TRADE MANAGEMENT
• Entry Conditions:
Long Entry: HullMA_close crosses above HullMA_open
Short Entry: HullMA_close crosses below HullMA_open
• Exit Conditions:
Take Profit: Price reaches defined percentage above/below entry
Stop Loss: Price reaches defined percentage below/above entry
• Position Control:
Limited to one position at a time
Automatic position tracking
Clear visual indication of current trades
TECHNICAL DETAILS
• Hull MA Calculation:
Uses WMA (Weighted Moving Average) for precise calculations
Optimized for trend-following strategies
Smoothed Hull MA lines for better readability
• Label System:
Clear buy/sell markers
Take Profit and Stop Loss indicators
Real-time position status updates
• Alert Configuration:
Customizable alert messages
Multiple alert conditions
Option to enable/disable specific alerts
LIMITATIONS
⚠️ Important Considerations:
Results may vary across different market conditions
Historical performance does not guarantee future results
Always backtest strategy before live trading
Consider complementing with additional analysis tools
BEST PRACTICES
• Recommended Timeframes:
Daily charts for long-term strategies
4-hour charts for swing trading
1-hour charts for short-term trading
• Risk Management Tips:
Start with small position sizes
Always use TP/SL in live trading
Monitor market volatility before entering trades
TROUBLESHOOTING
• Common Issues:
Ensure proper chart resolution
Verify alert conditions are enabled
Check for conflicting indicators
• Performance Optimization:
Use appropriate timeframe for your strategy
Adjust indicator parameters based on market conditions
Monitor for potential overfitting
Cerca negli script per "entry"
TradeTrackerLibrary "TradeTracker"
Simple Library for tracking trades
method track(this)
tracks trade when called on every bar
Namespace types: Trade
Parameters:
this (Trade) : Trade object
Returns: current Trade object
Trade
Has the constituents to track trades generated by any method.
Fields:
id (series int)
direction (series int) : Trade direction. Positive values for long and negative values for short trades
initialEntry (series float) : Initial entry price. This value will not change even if the entry is changed in the lifecycle of the trade
entry (series float) : Updated entry price. Allows variations to initial calculated entry. Useful in cases of trailing entry.
initialStop (series float) : Initial stop. Similar to initial entry, this is the first calculated stop for the lifecycle of trade.
stop (series float) : Trailing Stop. If there is no trailing, the value will be same as that of initial trade
targets (array) : array of target values.
startBar (series int) : bar index of starting bar. Set by default when object is created. No need to alter this after that.
endBar (series int) : bar index of last bar in trade. Set by tracker on each execution
startTime (series int) : time of the start bar. Set by default when object is created. No need to alter this after that.
endTime (series int) : time of the ending bar. Updated by tracking method.
status (series int) : Integer parameter to track the status of the trade
retest (series bool) : Boolean parameter to notify if there was retest of the entry price
Intraday Macro & Flow Indicator# IntraMacroFlow Indicator
## Introduction
IntraMacroFlow is a volume and delta-based indicator that identifies significant price movements within trading sessions. It generates signals when volume spikes coincide with quality price movement, filtered by RSI to avoid overbought/oversold conditions.
> **Note:** This indicator provides multiple signals and should be combined with additional analysis methods such as support/resistance, trend direction, and price action patterns.
## Inputs
### Volume Settings
* **Volume Lookback Period** (14) - Number of bars for volume moving average calculation
* **Volume Threshold Multiplier** (1.5) - Required volume increase over average to generate signals
* **Delta Threshold** (0.3) - Required close-to-open movement relative to bar range (higher = stronger movement)
### Session Configuration
* **Use Dynamic Session Detection** (true) - Automatically determine session times
* **Highlight Market Open Period** (true) - Highlight first third of trading session
* **Highlight Mid-Session Period** (true) - Highlight middle portion of trading session
* **Detect Signals Throughout Whole Session** (true) - Find signals in entire session
* **Session Time** ("0930-1600") - Trading hours in HHMM-HHMM format
* **Session Type** ("Regular") - Select Regular, Extended, or Custom session
### Manual Session Settings
Used when dynamic detection is disabled:
* **Manual Session Open Hour** (9)
* **Manual Session Open Minute** (30)
* **Manual Session Open Duration** (60)
* **Manual Mid-Session Start Hour** (12)
* **Manual Mid-Session End Hour** (14)
## How It Works
The indicator analyzes each bar using three primary conditions:
1. **Volume Condition**: Current volume > Average volume × Threshold
2. **Delta Condition**: |Close-Open|/Range > Delta threshold
3. **Time Condition**: Bar falls within configured session times
When all conditions are met:
* Bullish signals appear when close > open and RSI < 70
* Bearish signals appear when close < open and RSI > 30
## Display Elements
### Shapes and Colors
* Green triangles below bars - Bullish signals
* Red triangles above bars - Bearish signals
* Blue background - Market open period
* Purple background - Mid-session period
* Bar coloring - Green (bullish), Red (bearish), or unchanged
### Information Panel
A dynamic label shows:
* Current volume relative to average (Vol)
* Delta value for current bar (Delta)
* RSI value (RSI)
* Session status (Active/Closed)
## Calculation Method
```
// Volume Condition
volumeMA = ta.sma(volume, lookbackPeriod)
volumeCondition = volume > volumeMA * volumeThreshold
// Delta Calculation (price movement quality)
priceRange = high - low
delta = math.abs(close - open) / priceRange
deltaCondition = delta > deltaThreshold
// Direction and RSI Filter
bullishBias = close > open and entrySignal and not (rsi > 70)
bearishBias = close < open and entrySignal and not (rsi < 30)
```
## Usage Recommendations
### Suitable Markets
* Equities during regular trading hours
* Futures markets
* Forex during active sessions
* Cryptocurrencies with defined volume patterns
### Recommended Timeframes
* 1-minute to 1-hour (optimal: 5 or 15-minute)
### Parameter Adjustments
* For fewer but stronger signals: increase Volume Threshold (2.0+) and Delta Threshold (0.4-0.6)
* For more signals: decrease Volume Threshold (1.2-1.5) and Delta Threshold (0.2-0.3)
### Usage Tips
* Combine with trend analysis for higher-probability entries
* Focus on signals occurring at session boundaries and mid-session
* Use opposite signals as potential exit points
* Configure alerts to receive notifications when signals occur
## Additional Notes
* RSI parameters are fixed at 14 periods with 70/30 thresholds
* The indicator handles overnight sessions correctly
* Fully compatible with TradingView alerts
* Customizable visual elements
## Release Notes
Initial release: This is a template indicator that should be customized to suit your specific trading strategies and preferences.
TP/SL Percentage & RR Visual ToolThis tool is designed to help traders visually and statistically assess their trade setup by calculating Stop Loss (SL), Take Profit (TP), and Risk-to-Reward (RR) based on percentage inputs from the current price.
🔧 How It Works:
Uses the current candle’s close price as your entry.
Calculates TP and SL as percentage-based levels (e.g., 1% SL, 1.5% TP).
Displays horizontal lines and labels on the chart for TP and SL (only on the latest candle to reduce clutter).
Shows a compact table in the top-right corner with all key values:
Entry Price
Current Price
TP Price (+%)
SL Price (-%)
TP Distance from current price
RR Ratio (e.g., 1:1.5)
💡 Use Cases:
Quickly validate if a trade setup meets your desired RR profile (e.g., 1:2).
Perfect for scalpers, swing traders, and position traders who rely on structured risk management.
Combine with your entry signal strategy to visualize targets and stops without manual calculations.
⚙️ Inputs:
Stop Loss % – Sets how far your SL is from the entry.
Take Profit % – Sets how far your TP is from the entry.
Rally Base Drop SND Pivots Strategy [LuxAlgo X PineIndicators]This strategy is based on the Rally Base Drop (RBD) SND Pivots indicator developed by LuxAlgo. Full credit for the concept and original indicator goes to LuxAlgo.
The Rally Base Drop SND Pivots Strategy is a non-repainting supply and demand trading system that detects pivot points based on Rally, Base, and Drop (RBD) candles. This strategy automatically identifies key market structure levels, allowing traders to:
Identify pivot-based supply and demand (SND) zones.
Use fixed criteria for trend continuation or reversals.
Filter out market noise by requiring structured price formations.
Enter trades based on breakouts of key SND pivot levels.
How the Rally Base Drop SND Pivots Strategy Works
1. Pivot Point Detection Using RBD Candles
The strategy follows a rigid market structure methodology, where pivots are detected only when:
A Rally (R) consists of multiple consecutive bullish candles.
A Drop (D) consists of multiple consecutive bearish candles.
A Base (B) is identified as a transition between Rallies and Drops, acting as a pivot point.
The pivot level is confirmed when the formation is complete.
Unlike traditional fractal-based pivots, RBD Pivots enforce stricter structural rules, ensuring that each pivot:
Has a well-defined bullish or bearish price movement.
Reduces false signals caused by single-bar fluctuations.
Provides clear supply and demand levels based on structured price movements.
These pivot levels are drawn on the chart using color-coded boxes:
Green zones represent bullish pivot levels (Rally Base formations).
Red zones represent bearish pivot levels (Drop Base formations).
Once a pivot is confirmed, the high or low of the base candle is used as the reference level for future trades.
2. Trade Entry Conditions
The strategy allows traders to select from three trading modes:
Long Only – Only takes long trades when bullish pivot breakouts occur.
Short Only – Only takes short trades when bearish pivot breakouts occur.
Long & Short – Trades in both directions based on pivot breakouts.
Trade entry signals are triggered when price breaks through a confirmed pivot level:
Long Entry:
A bullish pivot level is formed.
Price breaks above the bullish pivot level.
The strategy enters a long position.
Short Entry:
A bearish pivot level is formed.
Price breaks below the bearish pivot level.
The strategy enters a short position.
The strategy includes an optional mode to reverse long and short conditions, allowing traders to experiment with contrarian entries.
3. Exit Conditions Using ATR-Based Risk Management
This strategy uses the Average True Range (ATR) to calculate dynamic stop-loss and take-profit levels:
Stop-Loss (SL): Placed 1 ATR below entry for long trades and 1 ATR above entry for short trades.
Take-Profit (TP): Set using a Risk-Reward Ratio (RR) multiplier (default = 6x ATR).
When a trade is opened:
The entry price is recorded.
ATR is calculated at the time of entry to determine stop-loss and take-profit levels.
Trades exit automatically when either SL or TP is reached.
If reverse conditions mode is enabled, stop-loss and take-profit placements are flipped.
Visualization & Dynamic Support/Resistance Levels
1. Pivot Boxes for Market Structure
Each pivot is marked with a colored box:
Green boxes indicate bullish demand zones.
Red boxes indicate bearish supply zones.
These boxes remain on the chart to act as dynamic support and resistance levels, helping traders identify key price reaction zones.
2. Horizontal Entry, Stop-Loss, and Take-Profit Lines
When a trade is active, the strategy plots:
White line → Entry price.
Red line → Stop-loss level.
Green line → Take-profit level.
Labels display the exact entry, SL, and TP values, updating dynamically as price moves.
Customization Options
This strategy offers multiple adjustable settings to optimize performance for different market conditions:
Trade Mode Selection → Choose between Long Only, Short Only, or Long & Short.
Pivot Length → Defines the number of required Rally & Drop candles for a pivot.
ATR Exit Multiplier → Adjusts stop-loss distance based on ATR.
Risk-Reward Ratio (RR) → Modifies take-profit level relative to risk.
Historical Lookback → Limits how far back pivot zones are displayed.
Color Settings → Customize pivot box colors for bullish and bearish setups.
Considerations & Limitations
Pivot Breakouts Do Not Guarantee Reversals. Some pivot breaks may lead to continuation moves instead of trend reversals.
Not Optimized for Low Volatility Conditions. This strategy works best in trending markets with strong momentum.
ATR-Based Stop-Loss & Take-Profit May Require Optimization. Different assets may require different ATR multipliers and RR settings.
Market Noise May Still Influence Pivots. While this method filters some noise, fake breakouts can still occur.
Conclusion
The Rally Base Drop SND Pivots Strategy is a non-repainting supply and demand system that combines:
Pivot-based market structure analysis (using Rally, Base, and Drop candles).
Breakout-based trade entries at confirmed SND levels.
ATR-based dynamic risk management for stop-loss and take-profit calculation.
This strategy helps traders:
Identify high-probability supply and demand levels.
Trade based on structured market pivots.
Use a systematic approach to price action analysis.
Automatically manage risk with ATR-based exits.
The strict pivot detection rules and built-in breakout validation make this strategy ideal for traders looking to:
Trade based on market structure.
Use defined support & resistance levels.
Reduce noise compared to traditional fractals.
Implement a structured supply & demand trading model.
This strategy is fully customizable, allowing traders to adjust parameters to fit their market and trading style.
Full credit for the original concept and indicator goes to LuxAlgo.
[3Commas] Turtle StrategyTurtle Strategy
🔷 What it does: This indicator implements a modernized version of the Turtle Trading Strategy, designed for trend-following and automated trading with webhook integration. It identifies breakout opportunities using Donchian channels, providing entry and exit signals.
Channel 1: Detects short-term breakouts using the highest highs and lowest lows over a set period (default 20).
Channel 2: Acts as a confirmation filter by applying an offset to the same period, reducing false signals.
Exit Channel: Functions as a dynamic stop-loss (wait for candle close), adjusting based on market structure (default 10 periods).
Additionally, traders can enable a fixed Take Profit level, ensuring a systematic approach to profit-taking.
🔷 Who is it for:
Trend Traders: Those looking to capture long-term market moves.
Bot Users: Traders seeking to automate entries and exits with bot integration.
Rule-Based Traders: Operators who prefer a structured, systematic trading approach.
🔷 How does it work: The strategy generates buy and sell signals using a dual-channel confirmation system.
Long Entry: A buy signal is generated when the close price crosses above the previous high of Channel 1 and is confirmed by Channel 2.
Short Entry: A sell signal occurs when the close price falls below the previous low of Channel 1, with confirmation from Channel 2.
Exit Management: The Exit Channel acts as a trailing stop, dynamically adjusting to price movements. To exit the trade, wait for a full bar close.
Optional Take Profit (%): Closes trades at a predefined %.
🔷 Why it’s unique:
Modern Adaptation: Updates the classic Turtle Trading Strategy, with the possibility of using a second channel with an offset to filter the signals.
Dynamic Risk Management: Utilizes a trailing Exit Channel to help protect gains as trades move favorably.
Bot Integration: Automates trade execution through direct JSON signal communication with your DCA Bots.
🔷 Considerations Before Using the Indicator:
Market & Timeframe: Best suited for trending markets; higher timeframes (e.g., H4, D1) are recommended to minimize noise.
Sideways Markets: In choppy conditions, breakouts may lead to false signals—consider using additional filters.
Backtesting & Demo Testing: It is crucial to thoroughly backtest the strategy and run it on a demo account before risking real capital.
Parameter Adjustments: Ensure that commissions, slippage, and position sizes are set accurately to reflect real trading conditions.
🔷 STRATEGY PROPERTIES
Symbol: BINANCE:ETHUSDT (Spot).
Timeframe: 4h.
Test Period: All historical data available.
Initial Capital: 10000 USDT.
Order Size per Trade: 1% of Capital, you can use a higher value e.g. 5%, be cautious that the Max Drawdown does not exceed 10%, as it would indicate a very risky trading approach.
Commission: Binance commission 0.1%, adjust according to the exchange being used, lower numbers will generate unrealistic results. By using low values e.g. 5%, it allows us to adapt over time and check the functioning of the strategy.
Slippage: 5 ticks, for pairs with low liquidity or very large orders, this number should be increased as the order may not be filled at the desired level.
Margin for Long and Short Positions: 100%.
Indicator Settings: Default Configuration.
Period Channel 1: 20.
Period Channel 2: 20.
Period Channel 2 Offset: 20.
Period Exit: 10.
Take Profit %: Disable.
Strategy: Long & Short.
🔷 STRATEGY RESULTS
⚠️Remember, past results do not guarantee future performance.
Net Profit: +516.87 USDT (+5.17%).
Max Drawdown: -100.28 USDT (-0.95%).
Total Closed Trades: 281.
Percent Profitable: 40.21%.
Profit Factor: 1.704.
Average Trade: +1.84 USDT (+1.80%).
Average # Bars in Trades: 29.
🔷 How to Use It:
🔸 Adjust Settings:
Select your asset and timeframe suited for trend trading.
Adjust the periods for Channel 1, Channel 2, and the Exit Channel to align with the asset’s historical behavior. You can visualize these channels by going to the Style tab and enabling them.
For example, if you set Channel 2 to 40 with an offset of 40, signals will take longer to appear but will aim for a more defined trend.
Experiment with different values, a possible exit configuration is using 20 as well. Compare the results and adjust accordingly.
Enable the Take Profit (%) option if needed.
🔸Results Review:
It is important to check the Max Drawdown. This value should ideally not exceed 10% of your capital. Consider adjusting the trade size to ensure this threshold is not surpassed.
Remember to include the correct values for commission and slippage according to the symbol and exchange where you are conducting the tests. Otherwise, the results will not be realistic.
If you are satisfied with the results, you may consider automating your trades. However, it is strongly recommended to use a small amount of capital or a demo account to test proper execution before committing real funds.
🔸Create alerts to trigger the DCA Bot:
Verify Messages: Ensure the message matches the one specified by the DCA Bot.
Multi-Pair Configuration: For multi-pair setups, enable the option to add the symbol in the correct format.
Signal Settings: Enable the option to receive long or short signals (Entry | TP | SL), copy and paste the messages for the DCA Bots configured.
Alert Setup:
When creating an alert, set the condition to the indicator and choose "alert() function call only".
Enter any desired Alert Name.
Open the Notifications tab, enable Webhook URL, and paste the Webhook URL.
For more details, refer to the section: "How to use TradingView Custom Signals".
Finalize Alerts: Click Create, you're done! Alerts will now be sent automatically in the correct format.
🔷 INDICATOR SETTINGS
Period Channel 1: Period of highs and lows to trigger signals
Period Channel 2: Period of highs and lows to filter signals
Offset: Move Channel 2 to the right x bars to try to filter out the favorable signals.
Period Exit: It is the period of the Donchian channel that is used as trailing for the exits.
Strategy: Order Type direction in which trades are executed.
Take Profit %: When activated, the entered value will be used as the Take Profit in percentage from the entry price level.
Use Custom Test Period: When enabled signals only works in the selected time window. If disabled it will use all historical data available on the chart.
Test Start and End: Once the Custom Test Period is enabled, here you select the start and end date that you want to analyze.
Check Messages: Check Messages: Enable this option to review the messages that will be sent to the bot.
Entry | TP | SL: Enable this options to send Buy Entry, Take Profit (TP), and Stop Loss (SL) signals.
Deal Entry and Deal Exit: Copy and paste the message for the deal start signal and close order at Market Price of the DCA Bot. This is the message that will be sent with the alert to the Bot, you must verify that it is the same as the bot so that it can process properly.
DCA Bot Multi-Pair: You must activate it if you want to use the signals in a DCA Bot Multi-pair in the text box you must enter (using the correct format) the symbol in which you are creating the alert, you can check the format of each symbol when you create the bot.
👨🏻💻💭 We hope this tool helps enhance your trading. Your feedback is invaluable, so feel free to share any suggestions for improvements or new features you'd like to see implemented.
__
The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.
Mile Runner - Swing Trade LONGMile Runner - Swing Trade LONG Indicator - By @jerolourenco
Overview
The Mile Runner - Swing Trade LONG indicator is designed for swing traders who focus on LONG positions in stocks, BDRs (Brazilian Depositary Receipts), and ETFs. It provides clear entry signals, stop loss, and take profit levels, helping traders identify optimal buying opportunities with a robust set of technical filters. The indicator is optimized for daily candlestick charts and combines multiple technical analysis tools to ensure high-probability trades.
Key Features
Entry Signals: Visualized as green triangles below the price bars, indicating a potential LONG entry.
Stop Loss and Take Profit Levels: Automatically plotted on the chart for easy reference.
Stop Loss: Based on the most recent pivot low (support level).
Take Profit: Calculated using a Fibonacci-based projection from the entry price to the stop loss.
Trend and Momentum Filters: Ensures trades align with the prevailing trend and have sufficient momentum.
Volume and Volatility Confirmation: Verifies market interest and price movement potential.
How It Works
The indicator uses a combination of technical tools to filter and confirm trade setups:
Exponential Moving Averages (EMAs):
A short EMA (default: 9 periods) and a long EMA (default: 21 periods) identify the trend.
A bullish crossover (EMA9 crosses above EMA21) signals a potential upward trend.
Money Flow Index (MFI):
Confirms buying pressure when MFI > 50.
Average True Range (ATR):
Ensures sufficient volatility by checking if ATR exceeds its 20-period moving average.
Volume:
Confirms market interest when volume exceeds its 20-period moving average.
Pivot Lows:
Identifies recent support levels (pivot lows) to set the stop loss.
Ensures the pivot low is recent (within the last 10 bars by default).
Additional Trend Filter:
Confirms the long EMA is rising, reinforcing the bullish trend.
Inputs and Customization
The indicator is highly customizable, allowing traders to tailor it to their strategies:
EMA Periods: Adjust the short and long EMA lengths.
ATR and MFI Periods: Modify lookback periods for volatility and momentum.
Pivot Lookback: Control the sensitivity of pivot low detection.
Fibonacci Level: Adjust the Fibonacci retracement level for take profit.
Take Profit Multiplier: Fine-tune the aggressiveness of the take profit target.
Max Pivot Age: Set the maximum bars since the last pivot low for relevance.
Usage Instructions
Apply the Indicator:
Add the "Mile Runner - Swing Trade LONG" indicator to your TradingView chart.
Best used on daily charts for swing trading.
Look for Entry Signals:
A green triangle below the price bar signals a potential LONG entry.
Set Stop Loss and Take Profit:
Stop Loss: Red dashed line indicating the stop loss level.
Take Profit: Purple dashed line showing the take profit level.
Monitor the Trade:
The entry price is marked with a green dashed line for reference.
Adjust trade management based on the plotted levels.
Set Alerts:
Use the built-in alert condition to get notified of new LONG entry signals.
Important Notes
For LONG Positions Only : Designed exclusively for swing trading LONG positions.
Timeframe: Optimized for daily charts but can be tested on other timeframes.
Asset Types: Works best with stocks, BDRs, and ETFs.
Risk Management: Always align stop loss and take profit levels with your risk tolerance.
Why Use Mile Runner?
The Mile Runner indicator simplifies swing trading by integrating trend, momentum, volume, and volatility filters into one user-friendly tool. It helps traders:
Identify high-probability entry points.
Establish clear stop loss and take profit levels.
Avoid low-volatility or low-volume markets.
Focus on assets with strong buying pressure and recent support.
By following its signals and levels, traders can make informed decisions and enhance their swing trading performance. Customize the inputs and test it on your favorite assets—happy trading!
CCI, RSI, Volume & ATR Buy Signal - Go with the herd!📌 CCI, RSI, Volume & ATR Buy Signal Indicator
🚀 Identify Smart Entry Opportunities with a Multi-Confirmation Approach
This indicator combines CCI (Commodity Channel Index), RSI (Relative Strength Index), Volume, and ATR (Average True Range) to provide a reliable buy signal by ensuring the market conditions are favorable before entering a trade.
📊 How Does It Work?
This script evaluates market momentum, volatility, and trading volume to generate a clear entry decision:
✅ (Green Check) → Favorable entry conditions
❌ (Red Cross) → Not an ideal entry point
The indicator displays all the relevant metrics in one compact label, positioned above the most recent candle for quick and easy reference.
📈 Components of the Indicator
Each metric is visually represented using traffic light colors (🟢 Green, 🟡 Yellow, 🔴 Red) for intuitive decision-making:
1️⃣ CCI (Commodity Channel Index) – Momentum Strength
🟢 Strong: Market momentum is high (CCI above the entry threshold).
🟡 Moderate: Market is showing some movement, but not strong enough.
🔴 Weak: No significant momentum (CCI is low).
2️⃣ RSI (Relative Strength Index) – Trend Confirmation
If RSI is above the user-defined threshold, the momentum is considered positive for entry.
3️⃣ Volume – Market Participation
🟢 High: Trading volume is above the moving average, confirming strong participation.
🟡 Moderate: Volume is near its average, signaling indecisiveness.
🔴 Low: Weak participation, indicating potential false signals.
4️⃣ ATR (Average True Range) – Volatility Indicator
🟢 High: The market is moving with sufficient volatility for a strong trade setup.
🟡 Moderate: Acceptable volatility but with some caution.
🔴 Low: Market is slow, and price movements may be weak.
🔧 Customizable Settings
You can fine-tune the indicator to match your trading strategy by adjusting:
CCI Threshold for Entry (default: 100)
RSI Threshold for Entry (default: 50)
Volume Multiplier for Confirmation (default: 1.0)
ATR Multiplier for Confirmation (default: 1.0)
🖥️ How to Use
1️⃣ Add the indicator to your TradingView chart.
2️⃣ Look for the label above the most recent candle.
Example output:
✅ Vola: 🟢 Mom: 🟢 Volu: 🟢 → Strong confirmation for entry.
❌ Vola: 🟡 Mom: 🔴 Volu: 🟡 → Entry conditions are not favorable.
3️⃣ Only enter trades when ✅ appears and all or most indicators are green.
4️⃣ Avoid trading when ❌ is displayed or when multiple indicators are yellow/red.
⚡ Why Use This Indicator?
✅ Multi-Factor Confirmation – Ensures you enter only high-probability setups.
✅ Customizable for Any Strategy – Adjust thresholds based on your risk tolerance.
✅ Traffic Light System – Easily interpret trade conditions at a glance.
✅ Real-Time Updates – The label dynamically updates based on the latest price action.
📌 Final Notes
This indicator is not a standalone trading system but a powerful confirmation tool. Always use proper risk management and combine it with price action analysis for best results. 📊📈
Iron Bot Statistical Trend Filter📌 Iron Bot Statistical Trend Filter
📌 Overview
Iron Bot Statistical Trend Filter is an advanced trend filtering strategy that combines statistical methods with technical analysis.
By leveraging Z-score and Fibonacci levels, this strategy quantitatively analyzes market trends to provide high-precision entry signals.
Additionally, it includes an optional EMA filter to enhance trend reliability.
Risk management is reinforced with Stop Loss (SL) and four Take Profit (TP) levels, ensuring a balanced approach to risk and reward.
📌 Key Features
🔹 1. Statistical Trend Filtering with Z-Score
This strategy calculates the Z-score to measure how much the price deviates from its historical mean.
Positive Z-score: Indicates a statistically high price, suggesting a strong uptrend.
Negative Z-score: Indicates a statistically low price, signaling a potential downtrend.
Z-score near zero: Suggests a ranging market with no strong trend.
By using the Z-score as a filter, market noise is reduced, leading to more reliable entry signals.
🔹 2. Fibonacci Levels for Trend Reversal Detection
The strategy integrates Fibonacci retracement levels to identify potential reversal points in the market.
High Trend Level (Fibo 23.6%): When the price surpasses this level, an uptrend is likely.
Low Trend Level (Fibo 78.6%): When the price falls below this level, a downtrend is expected.
Trend Line (Fibo 50%): Acts as a midpoint, helping to assess market balance.
This allows traders to visually confirm trend strength and turning points, improving entry accuracy.
🔹 3. EMA Filter for Trend Confirmation (Optional)
The strategy includes an optional 200 EMA (Exponential Moving Average) filter for trend validation.
Price above 200 EMA: Indicates a bullish trend (long entries preferred).
Price below 200 EMA: Indicates a bearish trend (short entries preferred).
Enabling this filter reduces false signals and improves trend-following accuracy.
🔹 4. Multi-Level Take Profit (TP) and Stop Loss (SL) Management
To ensure effective risk management, the strategy includes four Take Profit levels and a Stop Loss:
Stop Loss (SL): Automatically closes trades when the price moves against the position by a certain percentage.
TP1 (+0.75%): First profit-taking level.
TP2 (+1.1%): A higher probability profit target.
TP3 (+1.5%): Aiming for a stronger trend move.
TP4 (+2.0%): Maximum profit target.
This system secures profits at different stages and optimizes risk-reward balance.
🔹 5. Automated Long & Short Trading Logic
The strategy is built using Pine Script®’s strategy.entry() and strategy.exit(), allowing fully automated trading.
Long Entry:
Price is above the trend line & high trend level.
Z-score is positive (indicating an uptrend).
(Optional) Price is also above the EMA for stronger confirmation.
Short Entry:
Price is below the trend line & low trend level.
Z-score is negative (indicating a downtrend).
(Optional) Price is also below the EMA for stronger confirmation.
This logic helps filter out unnecessary trades and focus only on high-probability entries.
📌 Trading Parameters
This strategy is designed for flexible capital management and risk control.
💰 Account Size: $5000
📉 Commissions and Slippage: Assumes 94 pips commission per trade and 1 pip slippage.
⚖️ Risk per Trade: Adjustable, with a default setting of 1% of equity.
These parameters help preserve capital while optimizing the risk-reward balance.
📌 Visual Aids for Clarity
To enhance usability, the strategy includes clear visual elements for easy market analysis.
✅ Trend Line (Blue): Indicates market midpoint and helps with entry decisions.
✅ Fibonacci Levels (Yellow): Highlights high and low trend levels.
✅ EMA Line (Green, Optional): Confirms long-term trend direction.
✅ Entry Signals (Green for Long, Red for Short): Clearly marked buy and sell signals.
These features allow traders to quickly interpret market conditions, even without advanced technical analysis skills.
📌 Originality & Enhancements
This strategy is developed based on the IronXtreme and BigBeluga indicators,
combining a unique Z-score statistical method with Fibonacci trend analysis.
Compared to conventional trend-following strategies, it leverages statistical techniques
to provide higher-precision entry signals, reducing false trades and improving overall reliability.
📌 Summary
Iron Bot Statistical Trend Filter is a statistically-driven trend strategy that utilizes Z-score and Fibonacci levels.
High-precision trend analysis
Enhanced accuracy with an optional EMA filter
Optimized risk management with multiple TP & SL levels
Visually intuitive chart design
Fully customizable parameters & leverage support
This strategy reduces false signals and helps traders ride the trend with confidence.
Try it out and take your trading to the next level! 🚀
Enhanced Bollinger Bands Strategy with SL/TP// Title: Enhanced Bollinger Bands Strategy with SL/TP
// Description:
// This strategy is based on the classic Bollinger Bands indicator and incorporates Stop Loss (SL) and Take Profit (TP) levels for automated trading. It identifies potential long and short entry points based on price crossing the lower and upper Bollinger Bands, respectively. The strategy allows users to customize several parameters to suit different market conditions and risk tolerances.
// Key Features:
// * **Bollinger Bands:** Uses Simple Moving Average (SMA) as the basis and calculates upper and lower bands based on a user-defined standard deviation multiplier.
// * **Customizable Parameters:** Offers extensive customization, including SMA length, standard deviation multiplier, Stop Loss (SL) in pips, and Take Profit (TP) in pips.
// * **Long/Short Position Control:** Allows users to independently enable or disable long and short positions.
// * **Stop Loss and Take Profit:** Implements Stop Loss and Take Profit levels based on pip values to manage risk and secure profits. Entry prices are set to the band levels on signals.
// * **Visualizations:** Provides options to display Bollinger Bands and entry signals on the chart for easy analysis.
// Strategy Logic:
// 1. **Bollinger Bands Calculation:** The strategy calculates the Bollinger Bands using the specified SMA length and standard deviation multiplier.
// 2. **Entry Conditions:**
// * **Long Entry:** Enters a long position when the closing price crosses above the lower Bollinger Band and the `Enable Long Positions` setting is enabled.
// * **Short Entry:** Enters a short position when the closing price crosses below the upper Bollinger Band and the `Enable Short Positions` setting is enabled.
// 3. **Exit Conditions:**
// * **Stop Loss:** Exits the position if the price reaches the Stop Loss level, calculated based on the input `Stop Loss (Pips)`.
// * **Take Profit:** Exits the position if the price reaches the Take Profit level, calculated based on the input `Take Profit (Pips)`.
// Input Parameters:
// * **SMA Length (length):** The length of the Simple Moving Average used to calculate the Bollinger Bands (default: 20).
// * **Standard Deviation Multiplier (mult):** The multiplier applied to the standard deviation to determine the width of the Bollinger Bands (default: 2.0).
// * **Enable Long Positions (enableLong):** A boolean value to enable or disable long positions (default: true).
// * **Enable Short Positions (enableShort):** A boolean value to enable or disable short positions (default: true).
// * **Pip Value (pipValue):** The value of a pip for the traded instrument. This is crucial for accurate Stop Loss and Take Profit calculations (default: 0.0001 for most currency pairs). **Important: Adjust this value to match the specific instrument you are trading.**
// * **Stop Loss (Pips) (slPips):** The Stop Loss level in pips (default: 10).
// * **Take Profit (Pips) (tpPips):** The Take Profit level in pips (default: 20).
// * **Show Bollinger Bands (showBands):** A boolean value to show or hide the Bollinger Bands on the chart (default: true).
// * **Show Entry Signals (showSignals):** A boolean value to show or hide entry signals on the chart (default: true).
// How to Use:
// 1. Add the strategy to your TradingView chart.
// 2. Adjust the input parameters to optimize the strategy for your chosen instrument and timeframe. Pay close attention to the `Pip Value`.
// 3. Backtest the strategy over different periods to evaluate its performance.
// 4. Use the `Enable Long Positions` and `Enable Short Positions` settings to customize the strategy for specific market conditions (e.g., only long positions in an uptrend).
// Important Notes and Disclaimers:
// * **Backtesting Results:** Past performance is not indicative of future results. Backtesting results can be affected by various factors, including market volatility, slippage, and transaction costs.
// * **Risk Management:** This strategy is provided for informational and educational purposes only and should not be considered financial advice. Always use proper risk management techniques when trading. Adjust Stop Loss and Take Profit levels according to your risk tolerance.
// * **Slippage:** The strategy takes into account slippage by specifying a slippage parameter on the `strategy` declaration. However, real-world slippage may vary.
// * **Market Conditions:** The performance of this strategy can vary significantly depending on market conditions. It may perform well in trending markets but poorly in ranging or choppy markets.
// * **Pip Value Accuracy:** **Ensure the `Pip Value` is correctly set for the specific instrument you are trading. Incorrect pip value will result in incorrect stop loss and take profit placement.** This is critical.
// * **Broker Compatibility:** The strategy's performance may vary depending on your broker's execution policies and fees.
// * **Disclaimer:** I am not a financial advisor, and this script is not financial advice. Use this strategy at your own risk. I am not responsible for any losses incurred while using this strategy.
Gold Pro StrategyHere’s the strategy description in a chat format:
---
**Gold (XAU/USD) Trend-Following Strategy**
This **trend-following strategy** is designed for trading gold (XAU/USD) by combining moving averages, MACD momentum indicators, and RSI filters to capture sustained trends while managing volatility risks. The strategy uses volatility-adjusted stops to protect gains and prevent overexposure during erratic price movements. The aim is to take advantage of trending markets by confirming momentum and ensuring entries are not made at extreme levels.
---
**Key Components**
1. **Trend Identification**
- **50 vs 200 EMA Crossover**
- **Bullish Trend:** 50 EMA crosses above 200 EMA, and the price closes above the 200 EMA
- **Bearish Trend:** 50 EMA crosses below 200 EMA, and the price closes below the 200 EMA
2. **Momentum Confirmation**
- **MACD (12,26,9)**
- **Buy Signal:** MACD line crosses above the signal line
- **Sell Signal:** MACD line crosses below the signal line
- **RSI (14 Period)**
- **Bullish Zone:** RSI between 50-70 to avoid overbought conditions
- **Bearish Zone:** RSI between 30-50 to avoid oversold conditions
3. **Entry Criteria**
- **Long Entry:** Bullish trend, MACD bullish crossover, and RSI between 50-70
- **Short Entry:** Bearish trend, MACD bearish crossover, and RSI between 30-50
4. **Exit & Risk Management**
- **ATR Trailing Stops (14 Period):**
- Initial Stop: 3x ATR from entry price
- Trailing Stop: Adjusts to lock in profits as price moves favorably
- **Position Sizing:** 100% of equity per trade (high-risk strategy)
---
**Key Logic Flow**
1. **Trend Filter:** Use the 50/200 EMA relationship to define the market's direction
2. **Momentum Confirmation:** Confirm trend momentum with MACD crossovers
3. **RSI Validation:** Ensure RSI is within non-extreme ranges before entering trades
4. **Volatility-Based Risk Management:** Use ATR stops to manage market volatility
---
**Visual Cues**
- **Blue Line:** 50 EMA
- **Red Line:** 200 EMA
- **Green Triangles:** Long entry signals
- **Red Triangles:** Short entry signals
---
**Strengths**
- **Clear Trend Focus:** Avoids counter-trend trades
- **RSI Filter:** Prevents entering overbought or oversold conditions
- **ATR Stops:** Adapts to gold’s inherent volatility
- **Simple Rules:** Easy to follow with minimal inputs
---
**Weaknesses & Risks**
- **Infrequent Signals:** 50/200 EMA crossovers are rare
- **Potential Missed Opportunities:** Strict RSI criteria may miss some valid trends
- **Aggressive Position Sizing:** 100% equity allocation can lead to large drawdowns
- **No Profit Targets:** Relies on trailing stops rather than defined exit targets
---
**Performance Profile**
| Metric | Expected Range |
|----------------------|---------------------|
| Annual Trades | 4-8 |
| Win Rate | 55-65% |
| Max Drawdown | 25-35% |
| Profit Factor | 1.8-2.5 |
---
**Optimization Recommendations**
1. **Increase Trade Frequency**
Adjust the EMAs to shorter periods:
- `emaFastLen = input.int(30, "Fast EMA")`
- `emaSlowLen = input.int(150, "Slow EMA")`
2. **Relax RSI Filters**
Adjust the RSI range to:
- `rsiBullish = rsi > 45 and rsi < 75`
- `rsiBearish = rsi < 55 and rsi > 25`
3. **Add Profit Targets**
Introduce a profit target at 1.5% above entry:
```pine
strategy.exit("Long Exit", "Long",
stop=longStopPrice,
profit=close*1.015, // 1.5% target
trail_offset=trailOffset)
```
4. **Reduce Position Sizing**
Risk a smaller percentage per trade:
- `default_qty_value=25`
---
**Best Use Case**
This strategy excels in **strong trending markets** such as gold rallies during economic or geopolitical crises. However, during sideways or choppy market conditions, the strategy might require manual intervention to avoid false signals. Additionally, integrating fundamental analysis—like monitoring USD weakness or geopolitical risks—can enhance its effectiveness.
---
This strategy offers a balanced approach for trading gold, combining trend-following principles with risk management tailored to the volatility of the market.
Sunil BB Blast Heikin Ashi StrategySunil BB Blast Heikin Ashi Strategy
The Sunil BB Blast Heikin Ashi Strategy is a trend-following trading strategy that combines Bollinger Bands with Heikin-Ashi candles for precise market entries and exits. It aims to capitalize on price volatility while ensuring controlled risk through dynamic stop-loss and take-profit levels based on a user-defined Risk-to-Reward Ratio (RRR).
Key Features:
Trading Window:
The strategy operates within a user-defined time window (e.g., from 09:20 to 15:00) to align with market hours or other preferred trading sessions.
Trade Direction:
Users can select between Long Only, Short Only, or Long/Short trade directions, allowing flexibility depending on market conditions.
Bollinger Bands:
Bollinger Bands are used to identify potential breakout or breakdown zones. The strategy enters trades when price breaks through the upper or lower Bollinger Band, indicating a possible trend continuation.
Heikin-Ashi Candles:
Heikin-Ashi candles help smooth price action and filter out market noise. The strategy uses these candles to confirm trend direction and improve entry accuracy.
Risk Management (Risk-to-Reward Ratio):
The strategy automatically adjusts the take-profit (TP) level and stop-loss (SL) based on the selected Risk-to-Reward Ratio (RRR). This ensures that trades are risk-managed effectively.
Automated Alerts and Webhooks:
The strategy includes automated alerts for trade entries and exits. Users can set up JSON webhooks for external execution or trading automation.
Active Position Tracking:
The strategy tracks whether there is an active position (long or short) and only exits when price hits the pre-defined SL or TP levels.
Exit Conditions:
The strategy exits positions when either the take-profit (TP) or stop-loss (SL) levels are hit, ensuring risk management is adhered to.
Default Settings:
Trading Window:
09:20-15:00
This setting confines the strategy to the specified hours, ensuring trading only occurs during active market hours.
Strategy Direction:
Default: Long/Short
This allows for both long and short trades depending on market conditions. You can select "Long Only" or "Short Only" if you prefer to trade in one direction.
Bollinger Band Length (bbLength):
Default: 19
Length of the moving average used to calculate the Bollinger Bands.
Bollinger Band Multiplier (bbMultiplier):
Default: 2.0
Multiplier used to calculate the upper and lower bands. A higher multiplier increases the width of the bands, leading to fewer but more significant trades.
Take Profit Multiplier (tpMultiplier):
Default: 2.0
Multiplier used to determine the take-profit level based on the calculated stop-loss. This ensures that the profit target aligns with the selected Risk-to-Reward Ratio.
Risk-to-Reward Ratio (RRR):
Default: 1.0
The ratio used to calculate the take-profit relative to the stop-loss. A higher RRR means larger profit targets.
Trade Automation (JSON Webhooks):
Allows for integration with external systems for automated execution:
Long Entry JSON: Customizable entry condition for long positions.
Long Exit JSON: Customizable exit condition for long positions.
Short Entry JSON: Customizable entry condition for short positions.
Short Exit JSON: Customizable exit condition for short positions.
Entry Logic:
Long Entry:
The strategy enters a long position when:
The Heikin-Ashi candle shows a bullish trend (green close > open).
The price is above the upper Bollinger Band, signaling a breakout.
The previous candle also closed higher than it opened.
Short Entry:
The strategy enters a short position when:
The Heikin-Ashi candle shows a bearish trend (red close < open).
The price is below the lower Bollinger Band, signaling a breakdown.
The previous candle also closed lower than it opened.
Exit Logic:
Take-Profit (TP):
The take-profit level is calculated as a multiple of the distance between the entry price and the stop-loss level, determined by the selected Risk-to-Reward Ratio (RRR).
Stop-Loss (SL):
The stop-loss is placed at the opposite Bollinger Band level (lower for long positions, upper for short positions).
Exit Trigger:
The strategy exits a trade when either the take-profit or stop-loss level is hit.
Plotting and Visuals:
The Heikin-Ashi candles are displayed on the chart, with green candles for uptrends and red candles for downtrends.
Bollinger Bands (upper, lower, and basis) are plotted for visual reference.
Entry points for long and short trades are marked with green and red labels below and above bars, respectively.
Strategy Alerts:
Alerts are triggered when:
A long entry condition is met.
A short entry condition is met.
A trade exits (either via take-profit or stop-loss).
These alerts can be used to trigger notifications or webhook events for automated trading systems.
Notes:
The strategy is designed for use on intraday charts but can be applied to any timeframe.
It is highly customizable, allowing for tailored risk management and trading windows.
The Sunil BB Blast Heikin Ashi Strategy combines two powerful technical analysis tools (Bollinger Bands and Heikin-Ashi candles) with strong risk management, making it suitable for both beginners and experienced traders.
Feebacks are welcome from the users.
BBSS+This Pine Script implements a custom indicator overlaying Bollinger Bands with additional features for trend analysis using Exponential Moving Averages (EMAs). Here's a breakdown of its functionality:
Bollinger Bands:
The script calculates the Bollinger Bands using a 20-period Simple Moving Average (SMA) as the basis and a multiplier of 2 for the standard deviation.
It plots the Upper Band and Lower Band in red.
EMA Calculations:
Three EMAs are calculated for the close price with periods of 5, 10, and 40.
The EMAs are plotted in green (5-period), cyan (10-period), and orange (40-period) to distinguish between them.
Trend Detection:
The script determines bullish or bearish EMA alignments:
Bullish Order: EMA 5 > EMA 10 > EMA 40.
Bearish Order: EMA 5 < EMA 10 < EMA 40.
Entry Signals:
Long Entry: Triggered when:
The close price crosses above the Upper Bollinger Band.
The Upper Band is above its 5-period SMA (indicating momentum).
The EMAs are in a bullish order.
Short Entry: Triggered when:
The close price crosses below the Lower Bollinger Band.
The Lower Band is below its 5-period SMA.
The EMAs are in a bearish order.
Trend State Tracking:
A variable tracks whether the market is in a Long or Short trend based on conditions:
A Long trend continues unless conditions for a Short Entry are met or the Upper Band dips below its average.
A Short trend continues unless conditions for a Long Entry are met or the Lower Band rises above its average.
Visual Aids:
Signal Shapes:
Triangle-up shapes indicate Long Entry points below the bar.
Triangle-down shapes indicate Short Entry points above the bar.
Bar Colors:
Green bars indicate a Long trend.
Red bars indicate a Short trend.
This script combines Bollinger Bands with EMA crossovers to generate entry signals and visualize market trends, making it a versatile tool for identifying momentum and trend reversals.
R-based Strategy Template [Daveatt]Have you ever wondered how to properly track your trading performance based on risk rather than just profits?
This template solves that problem by implementing R-multiple tracking directly in TradingView's strategy tester.
This script is a tool that you must update with your own trading entry logic.
Quick notes
Before we dive in, I want to be clear: this is a template focused on R-multiple calculation and visualization.
I'm using a basic RSI strategy with dummy values just to demonstrate how the R tracking works. The actual trading signals aren't important here - you should replace them with your own strategy logic.
R multiple logic
Let's talk about what R-multiple means in practice.
Think of R as your initial risk per trade.
For instance, if you have a $10,000 account and you're risking 1% per trade, your 1R would be $100.
A trade that makes twice your risk would be +2R ($200), while hitting your stop loss would be -1R (-$100).
This way of measuring makes it much easier to evaluate your strategy's performance regardless of account size.
Whenever the SL is hit, we lose -1R
Proof showing the strategy tester whenever the SL is hit: i.imgur.com
The magic happens in how we calculate position sizes.
The script automatically determines the right position size to risk exactly your specified percentage on each trade.
This is done through a simple but powerful calculation:
risk_amount = (strategy.equity * (risk_per_trade_percent / 100))
sl_distance = math.abs(entry_price - sl_price)
position_size = risk_amount / (sl_distance * syminfo.pointvalue)
Limitations with lower timeframe gaps
This ensures that if your stop loss gets hit, you'll lose exactly the amount you intended to risk. No more, no less.
Well, could be more or less actually ... let's assume you're trading futures on a 15-minute chart but in the 1-minute chart there is a gap ... then your 15 minute SL won't get filled and you'll likely to not lose exactly -1R
This is annoying but it can't be fixed - and that's how trading works anyway.
Features
The template gives you flexibility in how you set your stop losses. You can use fixed points, ATR-based stops, percentage-based stops, or even tick-based stops.
Regardless of which method you choose, the position sizing will automatically adjust to maintain your desired risk per trade.
To help you track performance, I've added a comprehensive statistics table in the top right corner of your chart.
It shows you everything you need to know about your strategy's performance in terms of R-multiples: how many R you've won or lost, your win rate, average R per trade, and even your longest winning and losing streaks.
Happy trading!
And remember, measuring your performance in R-multiples is one of the most classical ways to evaluate and improve your trading strategies.
Daveatt
IU Opening range Breakout StrategyIU Opening Range Breakout Strategy
This Pine Script strategy is designed to capitalize on the breakout of the opening range, which is a popular trading approach. The strategy identifies the high and low prices of the opening session and takes trades based on price crossing these levels, with built-in risk management and trade limits for intraday trading.
Key Features:
1. Risk Management:
- Risk-to-Reward Ratio (RTR):
Set a customizable risk-to-reward ratio to calculate target prices based on stop-loss levels.
Default: 2:1
- Max Trades in a Day:
Specify the maximum number of trades allowed per day to avoid overtrading.
Default: 2 trades in a day.
- End-of-Day Close:
Automatically closes all open positions at a user-defined session end time to ensure no overnight exposure.
Default: 3:15 PM
2. Opening Range Identification
- Opening Range High and Low:
The script detects the high and low of the first trading session using Pine Script's session functions.
These levels are plotted as visual guides on the chart:
- High: Lime-colored circles.
- Low: Red-colored circles.
3. Trade Entry Logic
- Long Entry:
A long trade is triggered when the price closes above the opening range high.
- Entry condition: Crossover of the price above the opening range high.
-Short Entry:
A short trade is triggered when the price closes below the opening range low.
- Entry condition: Crossunder of the price below the opening range low.
Both entries are conditional on the absence of an existing position.
4. Stop Loss and Take Profit
- Long Position:
- Stop Loss: Previous candle's low.
- Take Profit: Calculated based on the RTR.
- **Short Position:**
- **Stop Loss:** Previous candle's high.
- **Take Profit:** Calculated based on the RTR.
The strategy plots these levels for visual reference:
- Stop Loss: Red dashed lines.
- Take Profit: Green dashed lines.
5. Visual Enhancements
-Trade Level Highlighting:
The script dynamically shades the areas between the entry price and SL/TP levels:
- Red shading for the stop-loss region.
- Green shading for the take-profit region.
- Entry Price Line:
A silver-colored line marks the average entry price for active trades.
How to Use:
1.Input Configuration:
Adjust the Risk-to-Reward ratio, max trades per day, and session end time to suit your trading preferences.
2.Visual Cues:
Use the opening range high/low lines and shading to identify potential breakout opportunities.
3.Execution:
The strategy will automatically enter and exit trades based on the conditions. Review the plotted SL and TP levels to monitor the risk-reward setup.
Important Notes:
- This strategy is designed for intraday trading and works best in markets with high volatility during the opening session.
- Backtest the strategy on your preferred market and timeframe to ensure compatibility.
- Proper risk management and position sizing are essential when using this strategy in live markets.
Turtle Trade Channels Indicator with EMATurtle Trade Channels Indicator with EMA (TuTCI + EMA)
This custom indicator combines the classic Turtle Trading Channel strategy with an Exponential Moving Average (EMA) filter to provide clear entry and exit signals, as well as trend direction guidance.
Features:
Turtle Channels: The indicator calculates the upper and lower Turtle Trading Channels based on the highest and lowest values over a user-defined period ( Entry Length for the channel).
Entry/Exit Signals: Alerts you to potential buy and sell opportunities with visual signals on the chart.
Long Entry: When the price crosses above the upper channel.
Short Entry: When the price crosses below the lower channel.
Long Exit: When the price breaks below the exit line.
Short Exit: When the price breaks above the exit line.
EMA Filter: A 50-period Exponential Moving Average (EMA) is included to identify the overall trend. The background color turns green when the price is above the EMA (bullish trend) and red when the price is below the EMA (bearish trend).
Highlighter: Optional background highlighting for the most relevant signals, such as when the price crosses the upper or lower Turtle Channel. This feature helps to easily identify key market movements.
Visual Customization: Customize the EMA length, Entry/Exit lengths, and toggle signals and highlighting to suit your preferences.
How It Works:
The Turtle Trade Channels are designed to capture breakouts by identifying key price levels (highest high and lowest low) over a specified period. By combining this strategy with an EMA, the indicator ensures trades are aligned with the broader trend, increasing the probability of successful trades.
Uptrend: When the price is above the EMA, the indicator considers the trend to be bullish, and it highlights long entry signals.
Downtrend: When the price is below the EMA, the trend is considered bearish, and short entries are emphasized.
Customization:
Entry Length: Adjusts the period for calculating the Turtle Channel's entry levels.
Exit Length: Defines the period for calculating the exit levels.
EMA Length: The period for the Exponential Moving Average (default is set to 50).
Show Entry/Exit Signals: Toggle the visibility of entry/exit signals on the chart.
Highlighter On/Off: Toggle background highlighting for key signals.
This indicator is suitable for traders who follow trend-following strategies, particularly those influenced by the Turtle Trading methodology, and wish to use an EMA filter for better trend confirmation.
Use Cases:
Trend-following traders looking for clear entry/exit signals.
Breakout traders using the Turtle Trading concept to identify price breakouts.
Swing traders who want to incorporate trend analysis with price levels.
MERCURY by DrAbhiramSivprasad"MERCURY by DrAbhiramSivprasad"
Developed from over 10 years of personal trading experience, the Mercury Indicator is a strategic tool designed to enhance accuracy in trading decisions. Think of it as a guiding light—a supportive tool that helps traders refine and build more robust strategies by integrating multiple powerful elements into a single indicator. I’ll be sharing some examples to illustrate how I use this indicator in my own trading journey, highlighting its potential to improve strategy accuracy.
Reason behind the combination of emas , cpr and vwap is it provides very good support and resistance in my trading carrier so now i brought them together in one plate
How It Works:
Mercury combines three essential elements—EMA, VWAP, and CPR—each of which plays a vital role in detecting support and resistance:
Exponential Moving Averages (EMAs): Known for their strength in providing dynamic support and resistance levels, EMAs help in identifying trends and shifts in momentum. This indicator includes a dashboard with up to nine customizable EMAs, showing whether each is acting as support or resistance based on real-time price movement.
Volume Weighted Average Price (VWAP): VWAP also provides valuable support and resistance, often regarded as a fair price level by institutional traders. Paired with EMAs, it forms a dual-layered support/resistance system, adding an additional level of confirmation.
Central Pivot Range (CPR): By combining CPR with EMAs and VWAP, Mercury highlights “traffic blocks” in your target journey. This means it identifies zones where price is likely to stall or reverse, providing additional guidance for navigating entries and exits.
Why This Combination Matters:
Using these three tools together gives you a more complete view of the market. VWAP and EMAs offer dynamic trend direction and support/resistance, while CPR pinpoints critical price zones. This combination helps you find high-probability trades, adding clarity to complex market situations and enabling stronger confirmation on trend or reversal decisions.
How to Use:
Trend Confirmation: Check if all EMAs are aligned (green for uptrend, red for downtrend), which is visible in the EMA dashboard. An alignment across VWAP, CPR, and EMAs signifies high confidence in trend direction.
Breakouts & Breakdowns: Mercury has an alert system to signal when a price breakout or breakdown occurs across VWAP, EMA1, and EMA2. This can help in spotting strong directional moves.
Example Application: In my trading, I use Mercury to identify support/resistance zones, confirming trends with EMA/VWAP alignment and using CPR as a checkpoint. I find this especially useful for day trading and swing setups.
Recommended Timeframes:
Day Trading: 5 to 15-minute charts for swift, actionable insights.
Swing Trading: 1-hour or 4-hour charts for broader trend analysis.
Note:
The Mercury Indicator should be used as a supportive tool rather than a standalone strategy, guiding you toward informed decisions in line with your trading style and goals.
EXAMPLE OF TRADE
you can see the cart of XAUUSD on 11th nov 2024
1.SHORT POSITION - TIME FRAME 15 MIN
So here for a short position you need to wait for a breakdown candle which will print in orange post the candle you need to check ema dashboard is completly red that indicates no traffic blocks in your journey to destiny target from ema's and you can take the target from nearest cpr support line
TAKEN IN XAUUSD you can see in chart of XAUUSD on 7th nov
2.LONG POSITION - TIME FRAME 15 MIN -
So here for long position you need to wait for a breakout candle from indicator thats here is blue and check all ema boxes are green and candle body should close above all the 3 lines here it is the both ema 1 and 2 and the vwap line then you can take and entry and your target will be the nearest resistance from the daily cpr
3. STOP LOSS CRITERIA
After the entry any candle close below any of the last line from entry for example we have 3 lines vwap and ema 1 and 2 lines and u have made an entry and the last line before the entry is vwap then if any candle closes below vwap can be considered as stoploss like wise in any lines
The MERCURY indicator is a comprehensive trading tool designed to enhance traders' ability to identify trends, breakouts, and reversals effectively. Created by Dr. Abhiram Sivprasad, this indicator integrates several technical elements, including Central Pivot Range (CPR), EMA crossovers, VWAP levels, and a table-based EMA dashboard, to offer a holistic trading view.
Core Components and Functionality:
Central Pivot Range (CPR):
The CPR in MERCURY provides a central pivot level along with Below Central (BC) and Top Central (TC) pivots. These levels act as potential support and resistance, useful for identifying reversal points and zones where price may consolidate.
Exponential Moving Averages (EMAs):
MERCURY includes up to nine EMAs, with a customizable EMA crossover alert system. This feature enables traders to see shifts in trend direction, especially when shorter EMAs cross longer ones.
VWAP (Volume-Weighted Average Price):
VWAP is incorporated as a dynamic support/resistance level and, combined with EMA crossovers, helps refine entry and exit points for higher probability trades.
Breakout and Breakdown Alerts:
MERCURY monitors conditions for upside and downside breakouts. For an upside breakout, all EMAs turn green and a candle closes above VWAP, EMA1, and EMA2. Similarly, all EMAs turning red, combined with a close below VWAP and EMA1/EMA2, signals a downside breakdown. Continuous alerts are available until the trend shifts.
Real-Time EMA Dashboard:
A table displays each EMA’s relative position (Above or Below), helping traders quickly gauge trend direction. Colors in the table adjust to long/short conditions based on EMA alignment.
Usage Recommendations:
Trend Confirmation:
Use the CPR, EMA alignments, and VWAP to confirm uptrends and downtrends. The table highlights trends, making it easy to spot long or short setups at a glance.
Breakout and Breakdown Alerts:
The alert system is customizable for continuous notifications on critical price levels. When all EMAs align in one direction (green for long, red for short) and the close is above or below VWAP and key EMAs, the indicator confirms a breakout/breakdown.
Adaptable for Different Styles:
Day Trading: Traders can set shorter EMAs for quick insights.
Swing Trading: Longer EMAs combined with CPR offer insights into sustained trends.
Recommended Settings:
Timeframes: MERCURY is suitable for timeframes as low as 5 minutes for intraday traders, up to daily charts for trend analysis.
Symbols: Works across forex, stocks, and crypto. Adjust EMA lengths for asset volatility.
Example Strategy:
Long Entry: When the price crosses above CPR and closes above both EMA1 and EMA2.
Short Entry: When the price falls below CPR with a close below both EMA1 and EMA2.
Austin's Apex AcceleratorIndicator Name: Austin’s Apex Accelerator
Overview
The Austin’s Apex Accelerator is a highly aggressive trading indicator designed specifically for high-frequency Forex trading. It combines several technical analysis tools to identify rapid entry and exit points, making it well-suited for intraday or even lower timeframe trades. The indicator leverages a combination of exponential moving averages (EMAs), Bollinger Bands, volume filters, and volatility-adjusted ranges to detect breakout opportunities and manage risk with precision.
Core Components
Fast and Slow EMAs: The two EMAs act as trend and momentum indicators. When the shorter EMA crosses the longer EMA, it signals a change in momentum. The crossover of these EMAs often indicates a potential entry point, especially when combined with volume and volatility filters.
ATR-Based Range Filter: Using the Average True Range (ATR) for dynamic range calculation, the indicator adapts to market volatility. Higher ATR values widen the range, helping the indicator adjust for volatile conditions.
Volume Filter: A volume condition ensures that buy and sell signals only trigger when there’s significant market interest, reducing the likelihood of false signals in low-liquidity environments.
Bollinger Bands: The Bollinger Bands provide additional context for potential overbought or oversold conditions, highlighting opportunities for price reversals or trend continuations.
Key Features
Aggressive Buy and Sell Signals:
Buy Signal: A buy signal is generated when the fast EMA crosses above the slow EMA, confirming bullish momentum, and the volume condition is met. If the price is also near the lower Bollinger Band, it adds further confirmation of an oversold condition.
Sell Signal: A sell signal is generated when the fast EMA crosses below the slow EMA, confirming bearish momentum, with sufficient trading volume. If the price is near the upper Bollinger Band, it signals a potential overbought condition, which supports the sell signal.
Dynamic Range with ATR:
The indicator uses a volatility-based range, derived from the ATR, to adjust the signal sensitivity based on recent price fluctuations. This dynamic range ensures that signals are responsive in both high and low volatility conditions.
The range’s upper and lower bands act as thresholds, with trades often occurring when the price breaches these levels, signaling momentum shifts or trend reversals.
Trend Background Color:
A green background highlights bullish trends when the fast EMA is above the slow EMA.
A red background signifies bearish trends when the fast EMA is below the slow EMA, providing a visual indication of the overall market trend direction.
Trend Line:
The indicator plots a dynamic trend line that changes color based on the price's relationship to the EMAs, helping traders quickly assess the current trend’s strength and direction.
Alerts:
The indicator includes configurable alerts for buy and sell signals, allowing traders to be notified of entry opportunities without needing to monitor the chart continuously.
How to Use Austin’s Apex Accelerator
Identify Entry Points:
Buy Entry: When the fast EMA crosses above the slow EMA, a buy signal is triggered. Confirm this signal by checking if the price is near or below the lower Bollinger Band (indicating an oversold condition) and if trading volume meets the set threshold.
Sell Entry: When the fast EMA crosses below the slow EMA, a sell signal is triggered. Confirm the signal by ensuring the price is near or above the upper Bollinger Band (suggesting an overbought condition) and that volume is sufficient.
Exit Strategy:
Take Profit: The take profit level is calculated as 1.5 times the ATR from the entry point. This ensures that each trade aims to achieve a positive risk/reward ratio.
Stop Loss: The stop loss is set at 1 ATR from the entry, providing a tight risk control mechanism that limits potential losses on each trade.
Trend Identification and Background Colors:
Use the background colors to assess the trend direction. A green background indicates a bullish trend, while a red background suggests a bearish trend. These colors can help you filter signals that go against the trend, increasing the chances of a successful trade.
Volume Confirmation:
This indicator has an inbuilt volume filter to prevent trading in low-volume conditions. Look for signals only when volume exceeds the average volume threshold, which is set by the multiplier. This helps avoid trading during quieter times when false signals are more likely.
Alerts:
Set up alerts for buy and sell signals to be notified in real-time whenever a new trading opportunity arises, so you can act on high-quality signals promptly.
Practical Tips for Using Austin’s Apex Accelerator
Timeframe: Best suited for short timeframes such as 5-minute or 15-minute charts for high-frequency trading.
Trend Magic with EMA, SMA, and Auto-TradingRelease Notes
Strategy Name: Trend Magic with EMA, SMA, and Auto-Trading
Purpose: This strategy is designed to capture entry and exit points in the market using the Trend Magic indicator and three moving averages (EMA45, SMA90, and SMA180). Specifically, it uses the perfect order of the moving averages and the color changes in Trend Magic to identify trend reversals and potential trading opportunities.
Uniqueness and Usefulness
Uniqueness: The strategy utilizes the Trend Magic indicator, which is based on price and volatility, along with three moving averages to assess the strength of trends. The signals are generated only when the moving averages are in perfect order, and the Trend Magic color changes, ensuring that the entry is made during established trends. This combination provides a higher degree of reliability compared to strategies that rely solely on price action or single indicators.
Usefulness: This strategy is particularly useful for traders looking to capture trends over longer periods. It is effective at reducing noise in the market, only providing signals when the moving averages align and the Trend Magic indicator confirms a trend reversal. It works well in both trending and volatile markets.
Entry Conditions
Long Entry:
Condition: A perfect order (EMA45 > SMA90 > SMA180) is established, and Trend Magic changes color from red to blue.
Signal: A buy signal is generated, indicating the start of an uptrend.
Short Entry:
Condition: A perfect order (EMA45 < SMA90 < SMA180) is established, and Trend Magic changes color from blue to red.
Signal: A sell signal is generated, indicating the start of a downtrend.
Exit Conditions
Exit Strategy:
This strategy automatically enters and exits trades based on signals, but traders are encouraged to manage exits manually according to their own risk management preferences. The strategy includes stop loss and take profit settings based on risk-to-reward ratios for better risk management.
Risk Management
The strategy includes built-in risk management by using the SMA90 level at the time of entry as the stop-loss point and setting the take profit at a 1:1.5 risk-to-reward ratio. The stop-loss level is fixed at the entry point and does not move as the market progresses. Traders are advised to implement additional risk management, such as trailing stops, for added protection.
Account Size: ¥100,000
Commissions and Slippage: Assumes 94 pips for commissions and 1 pip for slippage per trade
Risk per Trade: 10% of account equity (adjust this based on personal risk tolerance)
Configurable Options
Configurable Options:
CCI Period: Set the period for the CCI used to calculate the Trend Magic indicator (default is 21).
ATR Multiplier: Set the multiplier for ATR used in the Trend Magic calculation (default is 1.0).
EMA/SMA Periods: The periods for the three moving averages (default is EMA45, SMA90, and SMA180).
Signal Display Control: An option to toggle the display of buy and sell signals on the chart.
Adequate Sample Size
To ensure the robustness and reliability of this strategy, it is recommended to backtest it with a sufficiently long period of historical data. Testing across different market conditions, including high and low volatility periods, is also advised.
Credits
Acknowledgments:
This strategy is based on the Trend Magic indicator combined with moving averages and draws on contributions from the technical analysis and trading community.
Clean Chart Description
Chart Appearance:
To maintain a clean and simple chart, this strategy includes options to turn off the display of Trend Magic, moving averages, and entry signals. Traders can adjust these display settings as needed to minimize visual clutter and focus on effective trend analysis.
Addressing the House Rule Violations
Omissions and Unrealistic Claims
Clarification:
This strategy does not make any unrealistic or unsupported claims about its performance. All signals are intended for educational purposes only and do not guarantee future results. It is important to note that past performance does not guarantee future outcomes, and proper risk management is crucial.
Monthly Day Long Strategy with VIX and Risk ManagementThis trading strategy is designed to open long positions on a specific day of the month, with the conditions for entry and exit based on the VIX index and additional risk management techniques. The strategy includes stop-loss and take-profit features to manage risk and lock in profits.
Inputs:
Entry Day of the Month (entry_day): Specifies which day of the month to consider for initiating a trade. The default value is the 27th.
Hold Duration (Days) (hold_duration_days): Defines how many days to hold the position after opening. The default value is 4 days.
VIX Threshold (vix_threshold): Sets the maximum acceptable value for the VIX index to consider an entry. If the VIX is below this threshold, it signals a potential trade. The default value is 20.0.
Stop Loss (%) (stop_loss_percentage): Determines the percentage below the entry price where the stop-loss will be triggered. The default value is 2.0%.
Take Profit (%) (take_profit_percentage): Sets the percentage above the entry price where the take-profit will be triggered. The default value is 5.0%.
Functions:
next_weekday(date): Adjusts the entry date to the next Monday if it falls on a weekend (Saturday or Sunday). This ensures trades do not occur on non-trading days.
Logic:
Entry Conditions:
Date Check: Opens a long position if the current date matches the adjusted entry date (the 27th or the next Monday if the 27th falls on a weekend).
VIX Filter: The VIX index value must be below the specified threshold (e.g., 20.0) to consider an entry.
Exit Conditions:
Time-Based Exit: Closes the position after the hold duration of 4 days.
Stop-Loss: Automatically closes the position if the price drops to a level that is a specified percentage below the entry price (e.g., 2.0%).
Take-Profit: Closes the position if the price rises to a level that is a specified percentage above the entry price (e.g., 5.0%).
Plots:
VIX Plot: Displays the VIX index on the chart for visual reference.
VIX Threshold Line: A horizontal line representing the VIX threshold value.
Summary:
The strategy aims to take advantage of specific entry days while filtering trades based on VIX levels to ensure market conditions are favorable. Risk management is enhanced through stop-loss and take-profit settings, which help in controlling potential losses and securing profits. The strategy ensures trades are only made on trading days and not on weekends, adjusting automatically to the next Monday if needed.
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Fibo Level DailyOverview
The "Fibo Level Daily" strategy is designed for trading Bitcoin (BTC) using the 1-hour timeframe. This strategy relies on Fibonacci levels calculated from the previous day's range and determines entry and exit points based on whether the previous daily candle was bullish or bearish.
How It Works
Fibonacci Levels Calculation:
The indicator calculates Fibonacci levels (0.8, 0.5, and 0.2) based on the high and low of the previous day.
The levels are calculated as follows:
0.8: This level is calculated by multiplying the difference between the previous day's high and low by 0.8 and adding the result to the previous day's low.
0.5: This is the midpoint of the previous day's range.
0.2: This level is calculated by multiplying the difference between the previous day's high and low by 0.2 and adding the result to the previous day's low.
Identifying the Previous Day's Trend:
The indicator checks if the previous daily candle closed bullish (close greater than open) or bearish (close less than open).
Setting Entry and Take Profit Levels:
If the previous daily candle was bearish:
Sell Entry: Wait for the price to rise to the 0.5 level (midpoint of the previous day's range) to enter a sell position.
Take Profit: The profit target is set at the 0.2 level.
If the previous daily candle was bullish:
Buy Entry: Wait for the price to drop to the 0.5 level (midpoint of the previous day's range) to enter a buy position.
Take Profit: The profit target is set at the 0.8 level.
Visual Representation on the Chart:
The indicator draws horizontal lines on the chart representing the Fibonacci levels (0.8, 0.5, and 0.2) from the previous day. These lines help visualize entry and exit points clearly.
Additionally, the last 15 minutes of the daily session are highlighted with a light red background to indicate the session's end.
Conditions of Use:
Timeframe: This indicator is specifically designed for use on the 1-hour timeframe.
Assets: While it can be used on any asset, it is optimized for trading Bitcoin (BTC).
Steps to Use the Indicator
Add the Indicator:
Insert the "Fibo Level Daily" indicator script into your trading platform (such as TradingView).
Select Timeframe:
Change the chart timeframe to 1 hour.
Interpret the Levels:
Observe the horizontal lines drawn on the chart representing the Fibonacci levels.
Identify whether the previous daily candle was bullish or bearish.
Wait for the Entry Price:
For a bearish previous daily candle: Wait for the price to rise to the 0.5 level to enter a sell position.
For a bullish previous daily candle: Wait for the price to drop to the 0.5 level to enter a buy position.
Set the Profit Target:
For a sell: Set your profit target at the 0.2 level.
For a buy: Set your profit target at the 0.8 level.
Execute the Trade:
Initiate the trade once the price reaches the entry level and set your take profit according to the identified trend from the previous day.
Conclusion
The "Fibo Level Daily" strategy provides a clear and precise methodology for identifying entry and exit points in Bitcoin using Fibonacci levels. By following this step-by-step guide, any trader can take advantage of market movements based on the previous day's price action, optimizing their trading opportunities on the 1-hour timeframe.
Triple MA HTF strategy - Dynamic SmoothingThe triple MA strategy is a simple but effective method to trade the trend. The advantage of this script over the existing triple MA strategies is that the user can open a lower time frame chart and select higher time frame inputs for different MA types mainting the visibility on the chart. The dynamic smoothing code makes sure the HTF trendlines are not jagged, but a fluid line visiable on the lower time frame chart. The script comes with a MA crossover and crossunder strategy explained below.
Moving Averages (MA) Crossover for Entry:
Long Entry: A long entry signal is triggered when the moving average line 1 crosses above the moving average line 2. This crossover indicates a potential shift in market sentiment towards the upside. However, to validate this signal, the strategy checks if the moving average 3 on a higher time frame (eg. 4 hour) is in an upward trend. This additional filter ensures that the trade aligns with the prevailing trend on a broader time scale, increasing the probability of success.
Short Entry: Conversely, a short entry signal occurs when the moving average line 1 crosses below the moving average line 2. This crossover suggests a possible downturn in market momentum. However, for a short trade to be confirmed, the strategy verifies that the moving average 3 on the higher time frame is in a downward trend. This confirmation ensures that the trade is in harmony with the overarching market direction.
Exit from Long Position: The strategy triggers an exit signal from a long position when the moving average line 1 crosses below the moving average line 2. This crossover indicates a potential reversal in the market trend, prompting the trader to close their long position and take profits or minimize losses.
Exit from Short Position: Similarly, an exit signal from a short position occurs when the moving average line 1 crosses above the moving average line 2. This crossover suggests a potential shift in market sentiment towards the upside, prompting the trader to exit their short position and manage their risk accordingly.
Features of the script
This Triple MA Strategy is basically the HTF Trend Filter displayed 3 times on the chart. For more infomation on how the MA with dynamic smoothing is calculated I recommend reading the following script:
For risk management I included a simple script to opt for % of eauity or # of contracts of in the instrument. For explanation on how the risk management settings work I refer to my ealier published script:
The strategy is a simplified example for setting up an entry and exit logic based on multiple moving avarages. Hence the script is meant for educational purposes only.
Three Candle Rolling Pivot Range**Strategy Description: Three Previous Candle Rolling Pivot Range**
**Introduction:**
This trading strategy is based on the concept of the rolling pivot range calculated from the high, low, and close prices of the three previous candles. The rolling pivot range serves as a dynamic support and resistance level, and this strategy aims to capture potential trading opportunities based on the price relationship with this range.
**Strategy Components:**
**1. Rolling Pivot Range Calculation:**
- **Rolling Pivot:** Calculate the rolling pivot by averaging the high, low, and close prices of the three previous candles.
- **Second Number:** Find the midpoint between the high and low of the three previous candles.
- **Pivot Differential:** Measure the difference between the rolling pivot and the second number.
- **Rolling Pivot Range High:** Set as rolling pivot + pivot differential.
- **Rolling Pivot Range Low:** Set as rolling pivot - pivot differential.
**2. Entry Rules:**
- **Long Entry:**
- Initiate a long entry when the current close is above both the rolling pivot range high and the rolling pivot.
- Continue the long entry as long as both the rolling pivot range high and low are higher than the corresponding values of the previous candle.
- **Short Entry:**
- Start a short entry when the current close is below both the rolling pivot range high and the rolling pivot.
- Continue the short entry as long as both the rolling pivot range high and low are lower than the corresponding values of the previous candle.
**Visualization:**
- **Plotting:**
- The rolling pivot range high, rolling pivot, and rolling pivot range low are plotted on the chart for visual reference.
- Long entry points are marked with a green triangle below the corresponding candle.
- Short entry points are marked with a red triangle above the corresponding candle.
**Conclusion:**
This strategy leverages the rolling pivot range to identify potential reversal points in the market. By considering the relative position of the current price compared to the dynamic support and resistance levels, the strategy aims to capture favorable trading opportunities. However, like all trading strategies, it should be used cautiously and backtested thoroughly on historical data to ensure its effectiveness before implementation in a live trading environment. Additionally, risk management techniques should always be applied to safeguard trading capital.
