Bullish & Bearish Engulfing ProHello Traders!
Overview
The Bullish & Bearish Engulfing Pro indicator is a powerful pattern recognition tool that identifies key reversal points and trend continuation opportunities. These engulfing patterns often mark the beginning of a significant price move and are widely used in technical analysis. For example, in an uptrend, a Bullish Engulfing pattern can provide an ideal pullback entry signal.
This indicator combines traditional candlestick theory with advanced technical filters like trend direction and volatility analysis to offer traders precise, high-confidence signals.
Key Features :
Accurate pattern detection:
Uses refined algorithms to detect true Bullish and Bearish Engulfing patterns, filtering out noise and false positives.
Trend filter:
Customizable Simple Moving Average (SMA) ensures trades are aligned with the market’s broader trend, improving trade success rates.
Volatility awareness:
ATR-based filtering ensures that only statistically significant engulfing patterns are highlighted.
Visual clarity:
Bullish and Bearish Engulfing patterns are displayed with distinct, customizable colors and labels for instant recognition.
Flexible customization:
Users can adjust detection criteria, SMA settings, and visual options to suit their personal strategy.
Filtered signal display:
Option to visualize filtered-out signals to better understand how the logic makes its decisions.
Bullish Engulfing Pattern
Appears after a downtrend or during a pullback in an uptrend
Consists of two candles
A smaller bearish candle
Followed by a larger bullish candle that completely engulfs the previous body
Bearish Engulfing Pattern
Appears after an uptrend or during a pullback in a downtrend
Consists of two candles
A smaller bullish candle
Followed by a larger bearish candle that completely engulfs the previous body
Key differences in this implementation
What makes this indicator unique
Trend and volatility filters
Ensure patterns occur in meaningful market conditions
Comprehensive pattern analysis:
Factors in candle body ratios, wick sizes, and relative size to past candles for smarter detection
Adaptive to market conditions:
Dynamic thresholds based on ATR allow pattern recognition to adjust to different volatility regimes
Educational value:
Visualizing rejected patterns helps traders build intuition and refine their discretion
How to Trade with this Indicator
Engulfing patterns can signal strong reversals or pullback continuations. Use them with trend and volume confirmation to maximize their effectiveness.
snapshot
Bullish Opportunities:
Look for Bullish Engulfing patterns (aqua-colored candles and labels) during or after a pullback in an uptrend.
Bearish Opportunities:
Watch for Bearish Engulfing patterns (orange-colored candles and labels) during or after a rally in a downtrend.
Entry: Enter on the next bar open after the engulfing candle completes.
Stop loss: 2 ticks below/above the engulfing candle’s low/high.
Take profit: Aim for at least a 2R target, a swing high/low or manage the tradewith a trailing stop.
Trend Alignment:
For higher win probability, take trades only in the direction of the SMA-defined trend.
Note: To ensure the candle coloring appears correctly, place the indicator at the top of the object tree.
Cerca negli script per "entry"
Range Average Retest Model [LuxAlgo]The Range Average Retest Model tool highlights setups from the range average retest entry model, a model using the retest of the average between two opposite swing points as an entry.
This tool uses long-term volatility coupled with user-defined multipliers to filter out swing areas and set take profit and stop loss levels for all trades.
Key features include:
Draw up to 165 swing areas and their associated trades
Filter out swing areas using Pivot Length , Selection Mode and Threshold parameters
Filter out trades with Maximum Distance and Minimum Distance parameters
Enable or disable swing areas and select default colors
Enable or disable overlapping trades and change the default colors for Take Profit and Stop Loss zones
🔶 USAGE
The "Range Average Retest Model" is an entry model that enters a position when the price retests the average made between two swing points. Users can determine the period of the detected swing points from the "Pivot Length" setting.
The conditions for long or short trades, regardless of whether the swing area is bullish or bearish, are as follows:
Long positions: the current bar close is below the swing area average and the last bar close was above it.
Short positions: the current bar close is above the swing area average price and the last bar close was below it.
Each trade is displayed on the chart with a line connecting it to its swing area highlighting the range average, a green area for the take profit, and a red area for the stop loss.
Both the Take Profit and Stop Loss levels are calculated by applying your own multiplier in the settings panel to the long-term volatility measure, in this case, the average true range over the last 200 bars.
Trades will remain open until they reach either the Stop Loss or Take Profit price levels.
🔹 Filtering Swing Areas
The daily chart of the Nasdaq-100 futures (NQ) with pivot length 2 and bullish selection mode: it only detects bullish swing areas, but they are smaller and more numerous.
Traders can manipulate the behavior of the swing areas from the settings panel.
The Selection mode will filter areas by bias: it will detect bullish areas, bearish areas, or both.
The Threshold parameter is applied to the long-term volatility to filter out areas where the average prices are too close together; the higher the value, the greater the difference between the average prices must be.
🔹 Trades
3-minute chart of the Nasdaq-100 futures (NQ) with pivot length 5, bearish selection mode maximum distance 4, and stop loss 2: many trades detected with very asymmetric risk/reward.
The behavior of the trades is also manipulated from the settings panel.
The maximum and minimum distance parameters specify the number of bars a trade must be away from a swing area.
The Take Profit and Stop Loss parameters are applied to the long-term volatility to obtain their respective price levels.
🔹 Overlapping Trades
Same chart as before, but with overlapping trades: messy, right?
By default the tool does not show overlapping trades, this allows for a cleaner chart.
In the settings panel traders can enable overlapping mode, in which case the tool will show all available trades.
Traders must be aware that the chart can be very crowded.
🔶 SETTINGS
🔹 Swings
Pivot Length: How many bars are used to confirm a swing point. The larger this parameter is, the larger and fewer swing areas will be detected.
Selection Mode: Swing area detection mode, detect only bullish swings, only bearish swings, or both.
Threshold: Swing area comparator. This threshold is multiplied by a measure of volatility (average true range over the last 200 bars), for a new swing area to be detected it must have an average level that is sufficiently distant from the average level of any untouched swing area, this parameter controls that distance.
🔹 Trades
Maximum distance: Maximum distance allowed between a swing area and a trade.
Minimum distance: Minimum distance allowed between a swing area and a trade.
Take profit: The size of the take profit - this threshold is multiplied by a measure of volatility (the average true range over the last 200 bars).
Stop loss: The size of the stop-loss: this threshold is multiplied by a measure of volatility (the average true range over the last 200 bars).
[Old] TL with K/K and CustomizationThe old version of Trap Light before the most recent update. In order to facilitate the table functionality that is currently available for Trap Light, I had to make some values that are used in calculations hard-coded. By request, I'm quickly making this version available.
Trap Light
Description
Trap Light is an indicator that uses the K value of the Stochastic RSI to indicate potential long or short entries. It was designed to operate like a traffic stop light that is displayed near the current candle so that you don't have to look away from the candlesticks while trading.
Kriss/Kross is simply a cross over/under strategy that utilizes the 10 EMA and the 50 EMA .
Signals and Available Alerts:
1. Max Sell (Red Sell Label)
When K is equal to 100.00.
This is the strongest sell signal, remember that you only need to make sure that the trend is reversing before you make an entry, because several of these signals can appear in a row if a strong trend hasn't yet reversed.
2. Sell (Red Sell Label)
When K is equal to or greater than 99.50.
A sell signal.
3. Close to Sell (Red Down Arrow)
When K is equal to or greater than 95.00.
A sell signal may be produced soon.
4. Not Ready (Yellow Circle)
When K is less than 95 and greater than 5.00.
This indicates that neither a sell nor buy signal are close to being produced.
5. Close to Buy (Green Up Arrow)
When K is equal to or less than 5.00.
A buy signal may be produced soon.
6. Buy (Green Buy Label)
When K is equal to or less than 0.50 and greater than 0.00.
A buy signal.
7. Max Buy (Green Buy Label)
When K is equal to 0.00.
Strongest buy signal, remember to make sure that the trend is reversing before making an entry.
8. Kriss (Buy)
A buy signal when the 10 EMA (Blue) crosses above the 50 EMA (Yellow). This is also illustrated by the triggering candle being colored blue.
9. Kross (Sell)
A sell signal when the 10 EMA (Blue) crosses below the 50 EMA (Yellow). This is also illustrated by the triggering candle being colored yellow.
Customization of many different options is available, and the code is open-source for your reference, etc.
Remember to do you own due diligence and feel free to leave a comment with questions, etc.
FU Candle Indicator V3.2What the FU Candle Indicator does:
First we need to understand what FU candles are. There's bullish and bearish FU candles.
Bullish FU candles are candles that have a long wick that takes out the previous candles low, then turns around and closes above the high of the previous candle.
Bearish FU candles are candles that have a long wick that takes out the previous candles high, then turns around and closes below the low of the previous candle.
Then there's so called attempted FU candles (ATT FU)
The difference between normal FU candles and ATT FU candles is, that the ATT FU candle doesn't close above/below the high/low of the previous candle but only above the previous candle's body close.
Bullish ATT FU Candle:
Bearish ATT FU Candle:
Detection of Bullish FU Candles:
Bullish FU Candles are detected by measuring the distance between the low of the previous candle and the low of the current candle.
Then the distance between the previous candles high and the current candles close price are measured.
If current candle low < previous candle low and current candle close > previous candle high = Bullish FU Candle.
Detection of Bullish ATT FU Candles:
Bullish ATT FU Candles are detected by measuring the distance between the low of the previous candle and the low of the current candle.
Then the distance between the previous candles close or open price and the current candles close price are measured. If the previous candle closed bearish, the open price is used for comparison, if the previous candle closed bullish, the close price is used for comparison.
If current candle low < previous candle low and current candle close > previous candle open or close = Bullish ATT FU Candle.
Detection of Bearish FU Candles:
Bearish FU Candles are detected by measuring the distance between the high of the previous candle and the high of the current candle.
Then the distance between the previous candles low, AND the current candles close price are measured.
If current candle high > previous candle high, AND current candle close < previous candle low = Bearish FU Candle.
Detection of Bearish ATT FU Candles:
Bearish ATT FU Candles are detected by measuring the distance between the high of the previous candle and the high of the current candle.
Then the distance between the previous candles close or open price and the current candles close price are measured. If the previous candle closed bearish, the open price is used for comparison, if the previous candle closed bullish, the close price is used for comparison.
If current candle high > previous candle high and current candle close < previous candle open or close = Bearish ATT FU Candle.
What makes this script unique?
It shows and liquidity grab and a break of structure on a lower timeframe in one candle.
It allows to adjust the settings for the asset and timeframe you're using
The built in filters (Fractal Filter and EMA Filter) are both optional but allow to filter out certain candles and most importantly it leaves room for experimentation and optimisation to your trading style.
Input Settings and how to use them:
Bullish FU Candle Color --> This setting is to set the color for bullish FU candles.
Bearish FU Candle Color --> This setting is to set the color for bearish FU candles.
Chart --> This setting enables you to display FU's on different timeframes instead of only the current time. It's set to current timeframe by default.
Liq. Grab in Points --> This is the strength of the liquidity grab. By how many points has the current candle taken out the low/ high of the previous candle. It's set to 20 by default but it has to be adjusted to the timeframe and asset you're using.
Engulfing in Points --> This the strength of the engulfing of the previous candle. It measures the distance of the current close price to the open, close, high or low of the previous candle. It depends if the current candle is bullish or bearish and if the previous candle was bullish or bearish and if ATT FUs are enabled but this setting applies to all methods. It's set to 20 by default but you have to adjust it to the asset and timeframe you're using.
Min. Size in Points --> This setting is to filter out tiny candles. It measures the overall size of the FU candle from low to high. It's set to 20 by default but you have to adjust it to the asset and timeframe you are using.
Min. Body Size in Points --> This setting is to filter out FU candles that have a tiny body. It measures the size of the body from open to close. It's set to 20 by default but you have to adjust it to the asset and timeframe you are using.
Max. Body Size in Points --> This setting is to filter out FU candles that have a huge body. It measures the size of the body from open to close. It's set to 10000 by default but you have to adjust it to the asset and timeframe you are using.
Show ATT FU Candles --> ATT FU Candles are FU's where the body only engulfs the previous candles body but not the wick. This type of FU candles is just as valid as the strong FU's where the Body and the wick of the previous Candle is engulfed. The setting is enabled by default.
Rejection Filter --> This setting is used filter out FU candles where the opposite side rejection is stronger than the body direction of the FU. This filters out a lot of traps. It's disabled by default.
Fractal Filter --> FU's are only valid if they broke a fractal of the past x candles. This filters out some of the FU candles that are inside a range and therefore invalid. This is an optional filter and disabled by default.
EMA Filter --> FU's are only if they are above/ below the EMA. This is to filter out most of the FU candles that are inside ranges. The EMA period can be set too. This is an optional filter and enabled and EMA length set to 7 by default. You can enable it and/ or change the length of the EMA to fit your trading style.
Show Entry Lines --> The entry line setting has been changed in terms of styling. The upper and lower line has been removed. Now only the 50% retracement line of the candle body is displayed and the line type, color, strength and length can be set to keep charts as clean as possible.
Alert Timeframes --> You can select the timeframes for which you want to receive an alert if you set and alert for the FU Candle indicator. If you set an alert for the FU Candle Indicator it will send an alert for every FU candle on every selected timeframe.
TF1-TF8 --> This setting is to enable or disable alerts for timeframe 1 - timeframe 8. By default all alerts are disabled, I recommend only enabling the ones that you actually use.
Recommended use:
A bullish FU candle doesn't necessarily mean it's a long and vice versa a bearish FU candle doesn't necessarily mean it's a short. In fact, most FU candles are traps. Often times you'll see a bullish FU candle starting a bearish reversal.
Whenever you see an FU Candle check the following:
Did the FU candle take relevant liquidity?
Is the FU Candle in line with the overall bias or does it go against the bias?
Where did the FU react? Example: A bearish FU candle that reacts in a bullish FVG is a perfect long entry and vice versa.
A bullish FU candle that takes out a relevant swing high can often be a fake-out and price can immediately reverse as the next candle opens.
Timing is also very important. Usually the valid FU candles happen after a strong move to one direction during high volume times and right before or right after a new candle opens on a higher timeframe.
Examples of valid setups:
Nr. 1) Mitigation Setup
Overall bullish on the higher time frame, liquidity grab to the downside, shift in momentum, strong move to the upside left a FVG. later price comes back into the FVG and forms a FU candle --> perfect long trade targeting the opposite side of the range.
Entry either at close of the FU or at the 50% retracement.
Nr. 2) Trap Setup
Clear bullish trend respecting the trend line, bearish FU candle forms but it didn't take any relevant liquidity to the upside. Only internal range liquidity. Perfect long entry using a buy limit below the lower wick of the FU candle with the SL below the nearest low.
Nr. 3) Liquidity Grab Setup
Bearish trend, price comes up aggressively and takes out a high and forms an FU Candle. Market entry short at close of the FU candle or at the 50% retracement of the FU candle or by putting a limit order right above the wick of the candle that follows the FU candle, targeting the opposite side of the range.
Nr. 4) Fake Breakout Setup
Price takes out a significant HTF low, then makes at least 2 BOS on the LTF and forms an Order Block or leaves an FVG. Price forms a bearish U that fails to close below the FVG or Orderblock.
Market entry long at the close of the bearish FU targeting the opposite side of the range. Vice versa for shorts. In simple terms: Bullish FUs at the top of the range and bearish FUs at the bottom of the range are usually always traps.
Sometimes price takes out the high/low of a trap FU before reversing aggressively so you can also have a limit order below the low of the bearish FU or above the high of a bullish FU in this case. But you risk missing the trade.
Entry Methods:
Entry Type 1) Market Entry at the close of the FU candle. --> Never miss a trade, not the best RRR.
Entry Type 2 Limit Entry at the 50% retracement of the body of the FU candle. --> Miss some of the trades but better RRR.
Entry Type 3 Limit order below the wick of the candle that follows the FU candle. --> Miss quite a lot of trades but by far best RRR.
Why this is a closed source script:
The source code of this script is not open because I have spent several years of my life developing it and I use it in all my trading bots.
Also I'm open for feedback and will modify/ update the script for free if I get input that can make it better.
For questions, please reach out via DM or check out my youtube channel. I have several videos explaining in detail how I use these candles, which are valid and which aren't.
[MAD] Entrytool / Bybit-LinearThis indicator, "Entry Tool," was coded at request for Sandmann .
It is designed to provide traders with real-time feedback for strategizing entries, exits, and liquidation levels for trades initiated at that given moment.
The tool visualizes average entry prices, stop-loss levels, multiple take-profit targets, and potential liquidation prices, offering a comprehensive overview of possible trade outcomes. It aids traders in pre-planning their trades by visually simulating the impact of different trading decisions directly on the live chart. Each setting and parameter can be customized to align with individual trading strategies and risk tolerances, making this tool versatile for various trading styles, including day trading, swing trading, and position trading.
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Steps to Use the Indicator:
1. Basic Setup:
Setup Type: Choose between "Long" or "Short" to set the direction of the trade.
Leverage: Adjust the leverage to understand its impact on your potential returns and liquidation price.
Tracking follows the close price, alternative you can enter a specific price.
2. Position Setup:
Initial Entry Amount: Set the starting amount for the trade.
Distance: First Increment Percentage from Entry price
Amount: Define the increase for the first incremental addition to the position and specify the amount to be added.
Distance: Second Increment Percentage from Entry
Amount: Set the increase for the second incremental addition and the corresponding amount.
3. Risk Management:
Stop-Loss (SL) Percentage: Set the percentage below or above the average entry price at which the position should be closed to minimize losses.
Take-Profit (TP) Percentages: Define up to four different profit target levels by specifying the percentage above or below the average entry price.
4. Visual Settings:
Box Colors: Customize the colors of the boxes that represent long and short positions to differentiate easily on the chart.
Box Extension: Determine the length by which the box extends beyond the current bar, which helps in visualizing the potential price movement.
Line Colors and Extensions: Select colors for various lines such as the Average Entry Line, Stop-Loss Line, Take-Profit Lines, and Liquidations Line. Adjust the length of these lines for better visibility.
Label Settings: Configure the distance of labels from their corresponding lines and set the font size for better readability.
5. Additional Features:
Liquidation Price Visualization: This new feature calculates and displays the liquidation price based on the current leverage and margin settings, giving traders a critical insight into their risk exposure.
Interactive Drag Point: Adjust the start price manually by dragging the point on the chart, which dynamically updates entry and exit levels as well as risk metrics.
Detailed Leverage Data Array: Input different scenarios with specific leverage, initial margin, and maintenance rates to see how these factors impact potential liquidation points.
6. Informations about leverage calculation
The data used are fetched from Bybit for Linear pairs to calculate the liquidations like in their documentation.
Keep in mind that other exchanges may calulate based on another formular.
TNT Entrysthis indicator gives you entrys and shows bar color for the current trend for you to confirm you entry
Bewakoof stock indicator**Title**: "Bewakoof Stock Indicator: Multi-Timeframe RSI and SuperTrend Entry-Exit System"
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### Description
The **Bewakoof Stock Indicator** is an original trading tool that combines multi-timeframe RSI analysis with the SuperTrend indicator to create reliable entry and exit signals for trending markets. This indicator is designed for traders looking to follow strong trends with built-in risk management. By filtering entries through short- and long-term momentum and utilizing dynamic trailing exits, this indicator provides a structured approach to trading.
#### Indicator Components
1. **Multi-Timeframe RSI Analysis**:
- The Relative Strength Index (RSI) is calculated across three timeframes: Daily, Weekly, and Monthly.
- By examining multiple timeframes, the indicator confirms that trends align over short, medium, and long-term intervals, making buy signals more reliable.
- **Buy Condition**: All three RSI values must meet these thresholds:
- **Daily RSI > 50** – indicates short-term upward momentum,
- **Weekly RSI > 60** – signals medium-term strength,
- **Monthly RSI > 60** – confirms long-term trend alignment.
- This filtering process ensures that buy signals are generated only in stable, upward-trending markets.
2. **SuperTrend Confirmation**:
- The SuperTrend (20-period ATR with a multiplier of 2) acts as a trend filter and trailing stop mechanism.
- For a buy condition to be valid, the closing price must be above the SuperTrend level, verifying that the market is trending up.
- The combination of RSI and SuperTrend helps to avoid false signals, focusing only on well-established trends.
#### Trade Signals
- **Buy Signal**: When both the multi-timeframe RSI and SuperTrend conditions are met, a buy signal is triggered, indicated by a “BUY” label on the chart with details:
- **Entry Price**,
- **Initial Stop-Loss** (set at the SuperTrend level for risk control),
- **Target 1** – calculated with a 1:1 risk-reward ratio based on the initial stop-loss,
- **Target 2** – calculated with a 1:2 risk-reward ratio based on the initial stop-loss.
- **Exit Signals**: This indicator provides two exit strategies to protect profits:
1. **Fixed Stop-Loss**: Automatically set at the SuperTrend level at the time of entry to limit risk.
2. **Trailing Exit**: Exits are triggered if the price crosses below the SuperTrend level, adapting to potential trend reversals.
#### Labeling & Alerts
The **Bewakoof Stock Indicator** offers intuitive labeling and alert options:
- **Labels**: Buy and exit points are clearly marked, showing entry, stop-loss, and targets directly on the chart.
- **Alerts**: Custom alerts can be set for:
- **Buy signals** when both conditions are met, and
- **Exit signals** triggered by the stop-loss or trailing exit.
#### Use Case and Benefits
This indicator is ideal for trend-following traders who value risk control and trend confirmation:
- **Stronger Trend Signals**: By requiring RSI alignment across multiple timeframes, this indicator focuses only on trades with strong trend momentum.
- **Dynamic Risk Management**: Using both fixed and trailing exits enables flexible trade management, balancing risk and potential reward.
- **Simple Trade Execution**: The chart labels and alerts simplify trade decisions, making it easy to enter, manage, and exit trades.
#### How to Use
1. **Add** the Bewakoof Stock Indicator to your chart.
2. **Watch** for the "BUY" label as your entry point.
3. **Manage the trade** using the labeled stop-loss and target levels.
4. **Exit** on either a stop-loss hit or when the price crosses below the SuperTrend for a trailing exit.
The **Bewakoof Stock Indicator** is a complete solution for trend-following traders, combining the strength of multi-timeframe RSI with the SuperTrend’s trend-following capabilities. This systematic approach aims to provide high-confidence entries and effective risk management, empowering traders to follow trends with precision and control.
Gaussian Filter [BigBeluga]The Gaussian Filter - BigBeluga indicator is a trend-following tool that uses a Gaussian filter to smooth price data and identify directional shifts in the market. It provides dynamic signals for entering and exiting trades based on trend changes, helping traders stay aligned with the market's momentum. What sets this indicator apart is its ability to display precise entry and exit points with real-time tracking of percentage price changes, making it ideal for trend-based strategies.
SP500:
NIFTY50:
🔵 KEY FEATURES & USAGE
◉ Gaussian Filter Trend Line:
//@function GaussianFilter is used for smoothing, reducing noise, and computing derivatives of data.
//@param src (float) The source data (e.g., close price) to be smoothed.
//@param params (GaussianFilterParams) Gaussian filter parameters that include length and sigma.
//@returns (float) The smoothed value from the Gaussian filter.
gaussian_filter(float src, params) =>
var float weights = array.new_float(params.length) // Array to store Gaussian weights
total = 0.0
pi = math.pi
for i = 0 to params.length - 1
weight = math.exp(-0.5 * math.pow((i - params.length / 2) / params.sigma, 2.0))
/ math.sqrt(params.sigma * 2.0 * pi)
weights.set(i, weight)
total := total + weight
for i = 0 to params.length - 1
weights.set(i, weights.get(i) / total)
sum = 0.0
for i = 0 to params.length - 1
sum := sum + src * weights.get(i)
sum
The core functionality of the Gaussian Filter line is to show trend direction. When the trend line increases four times consecutively, it indicates an uptrend signal. Similarly, if it decreases four times in a row, it signals a downtrend. The smoothness of the filter helps traders stay on the right side of the market by filtering out noise and emphasizing the dominant trend direction.
◉ Entry and Exit Levels with Real-Time Price and Performance Data:
Each time the indicator detects a trend change, it plots an entry or exit level on the chart. For an uptrend, an entry level is marked, and for a downtrend, an exit level is plotted. These levels display the price at the time of the signal.
While the trend is ongoing, the indicator tracks the percentage change in price from the initial entry or exit signal to the current bar, updating in real-time. When a trend concludes, it displays the total percentage change from the entry or exit point to the trend's end. This feature provides valuable insights into how much the price has moved during each trend phase and allows traders to monitor the performance of each trade.
◉ Color-Coded Candlestick Representation with Trend Shift Alerts:
In addition to coloring the candlesticks based on the trend direction, the indicator also uses gray candles to highlight potential early trend shifts. For example, if the Gaussian Filter detects a downtrend but the price moves above the filter line, the candles turn gray, signaling a possible reversal or shift in momentum. Similarly, in an uptrend, if the price moves below the Gaussian Filter line, the candles turn gray as an early indication of potential bearish momentum. This visual cue helps traders stay alert to possible faster shifts in market direction, allowing for quicker decision-making.
🔵 CUSTOMIZATION
Length and Sigma for Gaussian Filter:
Adjust the length and sigma parameters to control how the Gaussian Filter smooths the price data. A longer length provides smoother trend lines, while adjusting sigma can fine-tune the level of smoothing applied.
Levels Display and Candle Coloring:
You can toggle the visibility of entry and exit levels as well as enable or disable the dynamic coloring of candlesticks based on the trend direction. The additional gray color setting provides an extra layer of information, allowing you to spot potential trend reversals early.
🔵 CONCLUSION
The Gaussian Filter indicator is a powerful tool for identifying and following market trends. By providing clear entry and exit signals, along with real-time tracking of price changes, it gives traders a structured way to manage trades and monitor performance. The color-coded candles, including gray to highlight possible trend shifts, add another dimension to visualizing market dynamics. The added flexibility of customizing colors and trend levels makes it a versatile indicator suitable for both trend-following and reversal strategies.
Professor Snipe: A superadaptive moving average. Prof. Snipe is a superadaptive, multi-purpose indicator I developed in order to judge market trend strength and show high probability entry points.
The indicator is focused around a zero lag moving average algorithm (SUPER-MA, ), that changes its parameters depending on the volatility (ATR) and trend strength (ADX).
If the price (black 3 period MA) is above the Super-MA, this indicates market momentum and strength. If price is below the Super-MA, price and momentum are showing weakness.
Micro-Signals are given based on smaller lag-free moving average crossovers (blue and red arrows), but entries will depend on the location of price, with respect to the super-MA.
Furthermore, to judge the current price position with respect to high timeframe averages, the algo will automatically show the location of the nearest moving averages for support and resistance.
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Entry Conditions example.:
For Longs:
Wait until the 4 hour trend flips bullish, price above Super-MA. Once it does, it will often retest the Super-MA as support. When that happens, use the next entry signal to go long.
For further safety, check the safety net (dotted hull moving average) to see if price has broken above that too, for an optimal long.
-- use caution when entering longs if: price is floating around the super-ma (very weak trend) and if price is below super-ma.
For Shorts:
Wait until the 4 hour trend flips bearish, price below Super-MA. Once it does, use lower timeframes to find short entry points using the MA signals.
-- use caution when entering shorts if: price is floating around the super-ma (very weak trend) and if price is above super-ma.
DYOR and test it yourself to find what works for you.
BE AWARE!
Just following the entry and exit signals (arrows) will not give you perfect results.
Summary:
Overall, this is probably the best indicator I have ever created, and has a very high success rate when used properly.
Best,
MM
Ichimoku Signal GeneratorThis indicator uses the standard concepts of the Ichimoku Cloud. The indicator features a fully customisable set of Ichimoku lines: Tenkan Sen, Kijun Sen, Senkou Span A & B, Kumo, Chikou Span. Besides this the Indicator also features the ability to show and hide entry signals for various entry criteria for the Ichimoku indicator:
Signal 1 - Chikou crossing Kijun - The indicator will place an arrow in the direction of the trade that is suggested by this signal.
Signal 2 - Heikin Ashi Candle closing above the Kumo - This seems to filter out a lot of bad signal versus basing the signal on price closing above the Kumo alone.
Signal 3 - Price crossing the Kijun Sen in relation to the Kumo - This signal has received the most work - It generates a signal in the suggested direction of the particular condition being met i.e. price crosses below the Kijun indicates a sell and vice versa, but it also factors in where the cross happens in relation to the Kumo cloud. These signals can be switched on or off based on weak(longs below the cloud or shorts above the cloud), neutral (long or short when inside the cloud) or strong (long above the cloud or short below the cloud).
Examples of each of the different Signal 3 indicators can be seen in the screenshot. Pale/white signals are weak, yellow are neutral & green/red are strong.
Further features (only available on Signal 3 at present: entry, stop loss and take profit levels. These are determined based on the ATR periods setting and ATR Multiplier for Stop Loss - specifying an ATR period of 10 and multiplier of 2 will result in stop loss signal being shown as 2xATR(10) above or below the entry based on whether you are shown a long or short signal. For Take Profits you can specify a Risk:Reward multiplier. By default this is set to 2:1 (or 2). This takes the distance from the stop market to the entry and multiplies it by the multiplier and then indicates a signal where you "could" exit. For the risk averse trader that want some instant gratification when they hit 1:1, the indicator will show you exactly where 1:1 is. You can then follow whatever risk management strategy you wish to - personally I find this a point at which I breakeven my stop and take half the profits (now I can't lose!) :)
The indicator follows some basic Ichimoku trading rules - not all signals will result in a winning trade (this is NOT the holy grail and doesn't claim to be) - you should always follow you own risk management strategy. You should also couple this with additional analysis to try to qualify the entry signal i.e. "does this signal and direction correlate with what the higher timeframes are telling me?".
One last feature I added - mores for psychological reasons was to only show signals for the time window I would actually be trading. I hate seeing that I missed a signal when I wasn't online - and this doesn't set me up mentally for trading well. So if there was an opportunity when I would not be trading - it is matter under the bridge! It is gone and I don't want to see it as I would not have been there to take it. This trading window can be specified using the start and end times - the setting mentions EST - however you should relate them to the exchange time for the provider of the price feed - some providers may use a different timezone to others i.e. UTC vs EST.
Wish you the best of luck!
Please provide any constructive feedback as I would love to feature further enhancements to this indicator if it helps users.
Bollinger Bands Entry/Exit ThresholdsBollinger Bands Entry/Exit Thresholds
Author of enhancements: chuckaschultz
Inspired and adapted from the original 'Bollinger Bands Breakout Oscillator' by LuxAlgo
Overview
Pairs nicely with Contrarian 100 MA
The Bollinger Bands Entry/Exit Thresholds is a powerful momentum-based indicator designed to help traders identify potential entry and exit points in trending or breakout markets. By leveraging Bollinger Bands, this indicator quantifies price deviations from the bands to generate bullish and bearish momentum signals, displayed as an oscillator. It includes customizable entry and exit signals based on user-defined thresholds, with visual cues plotted either on the oscillator panel or directly on the price chart.
This indicator is ideal for traders looking to capture breakout opportunities or confirm trend strength, with flexible settings to adapt to various markets and trading styles.
How It Works
The Bollinger Bands Entry/Exit Thresholds calculates two key metrics:
Bullish Momentum (Bull): Measures the extent to which the price exceeds the upper Bollinger Band, expressed as a percentage (0–100).
Bearish Momentum (Bear): Measures the extent to which the price falls below the lower Bollinger Band, also expressed as a percentage (0–100).
The indicator generates:
Long Entry Signals: Triggered when the bearish momentum (bear) crosses below a user-defined Long Threshold (default: 40). This suggests weakening bearish pressure, potentially indicating a reversal or breakout to the upside.
Exit Signals: Triggered when the bullish momentum (bull) crosses below a user-defined Sell Threshold (default: 80), indicating a potential reduction in bullish momentum and a signal to exit long positions.
Signals are visualized as tiny colored dots:
Long Entry: Blue dots, plotted either at the bottom of the oscillator or below the price bar (depending on user settings).
Exit Signal: White dots, plotted either at the top of the oscillator or above the price bar.
Calculation Methodology
Bollinger Bands:
A user-defined Length (default: 14) is used to calculate an Exponential Moving Average (EMA) of the source price (default: close).
Standard deviation is computed over the same length, multiplied by a user-defined Multiplier (default: 1.0).
Upper Band = EMA + (Standard Deviation × Multiplier)
Lower Band = EMA - (Standard Deviation × Multiplier)
Bull and Bear Momentum:
For each bar in the lookback period (length), the indicator calculates:
Bullish Momentum: The sum of positive deviations of the price above the upper band, normalized by the total absolute deviation from the upper band, scaled to a 0–100 range.
Bearish Momentum: The sum of positive deviations of the price below the lower band, normalized by the total absolute deviation from the lower band, scaled to a 0–100 range.
Formula:
bull = (sum of max(price - upper, 0) / sum of abs(price - upper)) * 100
bear = (sum of max(lower - price, 0) / sum of abs(lower - price)) * 100
Signal Generation:
Long Entry: Triggered when bear crosses below the Long Threshold.
Exit: Triggered when bull crosses below the Sell Threshold.
Settings
Length: Lookback period for EMA and standard deviation (default: 14).
Multiplier: Multiplier for standard deviation to adjust Bollinger Band width (default: 1.0).
Source: Input price data (default: close).
Long Threshold: Bearish momentum level below which a long entry signal is generated (default: 40).
Sell Threshold: Bullish momentum level below which an exit signal is generated (default: 80).
Plot Signals on Main Chart: Option to display entry/exit signals on the price chart instead of the oscillator panel (default: false).
Style:
Bullish Color: Color for bullish momentum plot (default: #f23645).
Bearish Color: Color for bearish momentum plot (default: #089981).
Visual Features
Bull and Bear Plots: Displayed as colored lines with gradient fills for visual clarity.
Midline: Horizontal line at 50 for reference.
Threshold Lines: Dashed green line for Long Threshold and dashed red line for Sell Threshold.
Signal Dots:
Long Entry: Tiny blue dots (below price bar or at oscillator bottom).
Exit: Tiny white dots (above price bar or at oscillator top).
How to Use
Add to Chart: Apply the indicator to your TradingView chart.
Adjust Settings: Customize the Length, Multiplier, Long Threshold, and Sell Threshold to suit your trading strategy.
Interpret Signals:
Enter a long position when a blue dot appears, indicating bearish momentum dropping below the Long Threshold.
Exit the long position when a white dot appears, indicating bullish momentum dropping below the Sell Threshold.
Toggle Plot Location: Enable Plot Signals on Main Chart to display signals on the price chart for easier integration with price action analysis.
Combine with Other Tools: Use alongside other indicators (e.g., trendlines, support/resistance) to confirm signals.
Notes
This indicator is inspired by LuxAlgo’s Bollinger Bands Breakout Oscillator but has been enhanced with customizable entry/exit thresholds and signal plotting options.
Best used in conjunction with other technical analysis tools to filter false signals, especially in choppy or range-bound markets.
Adjust the Multiplier to make the Bollinger Bands wider or narrower, affecting the sensitivity of the momentum calculations.
Disclaimer
This indicator is provided for educational and informational purposes only.
Dynamic Trading Strategy with Key Levels, Entry/Exit ManagementThis indicator provides a complete rule-based trading system, combining key levels, entry conditions, stop loss (SL), and take profit (TP) management. It’s designed to dynamically adapt to market conditions by identifying crucial support and resistance zones, determining entry points based on price action and volume, and calculating risk-based exit targets.
Key Features
Key Level Identification:
The indicator automatically identifies support and resistance levels based on recent price highs and lows within a customizable lookback period.
It adds a dynamic buffer around these levels using the Average True Range (ATR) to account for market volatility, ensuring the zones adjust to changing conditions.
Entry Conditions:
Bullish Entry: Triggers near the support zone when there’s upward price action, confirmed by volume spikes and bullish candlestick patterns (e.g., hammers, engulfing candles).
Bearish Entry: Triggers near the resistance zone when signs of rejection appear, confirmed by volume spikes and bearish candlestick patterns (e.g., shooting stars, bearish engulfing).
Entry zones are highlighted visually on the chart using green (bullish) and red (bearish) shaded boxes.
Stop Loss (SL) and Take Profit (TP):
Stop Loss: Calculated based on ATR multipliers, allowing you to set a volatility-adjusted risk level beyond the entry range.
Take Profit: Includes two profit-taking levels (TP1 and TP2), allowing for partial position exits. TP levels are calculated based on a reward-to-risk ratio, ensuring consistent profitability targets.
SL and TP levels are clearly marked with horizontal lines and labeled as SL, TP1, and TP2, helping you manage trade exits effectively.
Market Context Adaptability:
The indicator adapts to both trending and ranging market conditions. In trending markets, it favors trades that follow the trend, while in ranging markets, it focuses on reversals within the range boundaries.
Visual Aids:
Entry zones are highlighted with shaded boxes to indicate potential buy/sell regions.
SL, TP1, and TP2 levels are clearly drawn with labels, allowing for easy identification of exit points.
How to Use
Identify Key Levels: Look for support and resistance zones highlighted by the indicator on your chart.
Wait for Entry Conditions: When the price enters the entry range (marked by green or red boxes), wait for confirmation signals—such as volume spikes and candlestick patterns.
Manage Exits: Use the SL, TP1, and TP2 levels for structured trade management. Consider scaling out partially at TP1 and exiting fully at TP2.
Ideal For:
This indicator is suitable for traders who prefer a systematic approach to trading, with clear entry and exit rules. It is particularly helpful for those looking to balance risk and reward with well-defined take profit and stop loss levels.
Johnny's Moving Average RibbonProps to Madrid for creating the original script: Madrid Moving Average Ribbon.
All I did was upgrade it to pinescript v5 and added a few changes to the script.
Features and Functionality
Moving Average Types: The indicator offers a choice between exponential moving averages (EMAs) and simple moving averages (SMAs), allowing users to select the type that best fits their trading strategy.
Dynamic Color Coding: Each moving average line within the ribbon changes color based on its direction and position relative to a reference moving average, providing visual cues for market sentiment and trend strength.
Lime Green: Indicates an uptrend and potential long positions, shown when a moving average is rising and above the longer-term reference MA.
Maroon: Suggests caution for long positions or potential short reentry points, displayed when a moving average is rising but below the reference MA.
Ruby Red: Represents a downtrend, suitable for short positions, shown when a moving average is falling and below the reference MA.
Green: Signals potential reentry points for downtrends or warnings for uptrend reversals, displayed when a moving average is falling but above the reference MA.
Usage and Application
Trend Identification: Traders can quickly ascertain the market's direction at a glance by observing the predominant color of the ribbon and its orientation.
Trade Entry and Exit Points: The color transitions within the ribbon can signal potential entry or exit points, with changes from green to lime or red to maroon indicating shifts in market momentum.
Customization: Users have the flexibility to toggle between exponential and simple moving averages, allowing for a tailored analytical approach that aligns with their individual trading preferences.
Technical Specifications
The ribbon consists of multiple moving averages calculated over different periods, typically ranging from shorter to longer-term intervals to capture various aspects of market behavior.
The color dynamics are determined by comparing each moving average to a reference point, often a longer-term moving average within the ribbon, to assess the relative trend strength and direction.
Buy/Sell EMA CrossoverThe indicator identifies potential trading opportunities within the market. It is entirely based on the combination of exponential moving averages by drawing triangles on the chart that identify buy or sell signals combined with vertical bars that create areas of interest.
Specifically, when a buy signal occurs, the indicator draws a vertical bar with an azure background, indicating a possible buy area. Similarly, a sell signal is represented by a vertical bar with a fuchsia background, indicating a possible sell area.
These areas represent the main point of the indicator which uses exponential moving averages which, based on the direction of prices, identify the trend and color the background of the graph in order to visually highlight the predominant trend.
The green triangles above the bars of the chart suggest possible upside opportunities (good bullish entry points) when the 21 ema crosses the 200 ema.
While on the contrary the red triangles, 21 ema lower than the 200 ema, can indicate possible bearish trends (good bearish entry points).
While the white and purple triangles reveal moments of potential indecision or market change.
We can think of them as situations of uncertain trend in which it is possible to place a long or short order near some conditions that we are going to see.
The white triangles below, which are created when the 13 ema is higher than the 21 ema, indicate a possible bullish zone while the purple triangles above (13 ema lower than the 21) could suggest a bearish reflex
Colored lines represent moving averages blue = 200, 21= fuchsia and 13 = white. If the price is above the 200 period line then it could be a bullish opportunity, otherwise it could be a bearish one.
An interesting strategy to adopt is to evaluate, for example, the inputs near the vertical bars (azure - long) (fuchsia - short) when a white or purple triangle appears.
The more prominent green triangle indicates that the trend is going in a long direction.
On the contrary, the red (short) triangles are the opposite of the green ones and have the same importance as input logic.
The white triangle instead present more often inside the indicator identifies interesting buying areas of short duration, it is important to consider that the closer the triangles are to the vertical blue bars the stronger the entry signal.
Finally, the purple triangles are the short-term bearish trends whose entry near the fuchsia vertical bars defines a short.
[volfgang] WAVE ScannerThe Wave Scanner helps you make more informed decisions about when to buy and sell.
This indicator operates on a series of inputs and global variable declarations. Based on the same parameters as the WAVE Indicator. It uses different parameters such as the closing price, Stochastic Momentum Index, and smoothing factors such as the EMA to calculate the potential trade signals.
The scanner allows you to adjust the thresholds for bullish and bearish counts, which can be tailored to your personal trading strategy.
The minimum value is 4 and maximum is 8.
In total you can use 8 different timeframes for your signals from the following;
3D
1D
12h
8h
4h
1h
15m
5m
The scanner's unique ability to scan across multiple timeframes is what makes this indicator unique. This multi timeframe analysis can be incredibly useful for identifying broader trends in the market.
The Wave Scanner settings also includes inputs for you to enter risk management settings, including your total capital and the risk percentage you are willing to take per trade. It uses this information to display data in a label on the chart including;
Position Size
Stop Loss Level
Potential Profit
Risk Reward Ratio
On your chart, the WAVE Scanner will plot the ideal Entry Levels, Stop Loss and Take Profit Levels by calculating Fibonacci Levels, which is a popular tool for identifying potential support and resistance levels.
These are marked as follows;
GREEN Lines: Entry Levels
PINK Line: Stop Loss (can be customized in the settings)
GREY Line: Breakeven Level (move SL to breakeven at this level)
BLUE Line: Take Profit Level
So, if you're a trader looking to level up your strategy, the Wave Scanner is a tool you won't want to miss out on.
Risk:RewardThis Indicator displays Entry and Exits levels. The display is done under 3 modes:
- Risk/Reward mode (the one by default. It is set to a 1:1 ratio)
- Multiples TP Levels
- Custom Levels
Click to Set entry Price on chart
The displaying is static by default
to make it dynamic disable the "Use custom Entry ?" input.
Disclaimer: Scripts that I post publicly are experimental. They are not financial advices. Always backtest your ideas using your own methodologies.
Buy and Sell with Master_in_chart-ind. [V1]This script indicates the Buy and Sell positions on your chart. In addition, it shows entry price , stop loss and possible targets on the chart. The same information are shown in a table where you can find the position type (long/short) in green and red color, entry point, stop-loss (always in red) and targets.
The targets are defined by Risk to Reward ratios 1:1, 1:1.5 and 1:2.
the labels appears when the all conditions are satisfied.
Interesting part of the script is the alert function. Here one can set the script for different
securities and activate alert in TV.
In summary, one can change and tune the setting of the indicator easily by clicking on the gear icon. In the setting, there are four sections. First section sets the slop-loss. Second section activates and shows the super trend indicator. Third section is designed to tune the signals. Finally, you can apply the script on five different symbols at different time-frames. Here you can set alarm to alert you the signals.
I hope you enjoy it!
Gain/StopLoss Percentage LinesGain/StopLoss Percentage Lines is a quick way to enter your Entry Price in to a stock and track the percentage of gain or loss at the 5% and 10% markers.
Click on the gear settings icon and type in your entry price. The percentage is defaulted to 5%. You can change this to a different percentage at this screen. Note that whatever number you enter will be doubled for the upper and lower lines. For instance, if you want to set your first red line stop loss and green gain line at 2.5%, your two other upper and lower green and red lines will be at 5%.
However, this will not change the text on the tab marker.
To change the tab text, go in to the Pine Editor and change the green text that says "5% Gain" and "5% Loss" to your new percentages.
Relative Volume Screener AlertsThis script will screen 12 different stocks and current chart (13 in total) for entry points from my relative volume indicator.
1. Enter in any ticker ID's from charts you wish to scan in the settings.
2. Go to desired timeframe.
3. Click add alert button at top toolbar.
4. Select RVOL Screener Alerts indicator, input alert notification settings and/or change alert name and click create.
The script will then scan the stocks and alert you of any entry points from the timeframe you set the alerts.
A new alert needs to be created for each timeframe you wish to screen.
You can find my relative volume indicator here:
OSCAR Oscillator by GenZai - NNFXOSCAR Oscillator by GenZai
Green line is the Oscar Rough
Red line is the Oscar
By default based on the 8 last candles and smoothed using RMA
Purple line is the Slow Oscar
By default based on the 16 last candles and smoothed using WMA
HOW TO USE
Exit signaling
This indicator can be used as an exit indicator when line cross each other.
Entry signaling
When the green line crosses up, it indicates a long entry
When the red line crosses up, it indicates a short entry
Overbought/Oversold
When the indicator crosses the dashed grey lines it indicates Overbought Oversold
Slow Oscar Add-on
This is an Add-on to the orignal Oscar indicator
Can be hidden if you want the original experience of the Oscar indicator.
Can be used as a confirmation indicator by looking at the direction of the slope to verify is your are trending long or trending short.
Can be used as a baseline to confirm signals given by Oscar
Can be used to tweak your signals and test different settings.
Stock or Forex?
The program was originally written for stocks, but works equally well with the Forex market.
How this indicator is calculated ?
This is the formula we use to calculate the Oscar:
let A = the highest high of the last eight days (including today)
let B = the lowest low of the past eight days (including today)
let C = today's closing price
let X = yesterday's oscillator figure (Oscar)
Today's "rough" oscillator equals (C-B) divided by (A-B) times 100.
Next we "smooth" our rough number (let's call it Y) like this:
Final oscillator number = ((X divided by 3) times 2), plus (Y divided by 3).
SETTINGS:
You can choose between different smoothing options:
RMA: Moving average used in RSI. It is the Adjusted exponential moving averages (also known as Wilder's exponential moving average)
SMA : Simple moving average
EMA : Exponential moving average
WMA : Weighted moving average
ALMA CounterIt counts how many candles are below or above the Arnaud Legoux Moving Average (ALMA).
It may be useful to found good entry points.
SECRET EESSecret EES is a Pivot Based indicator that shows Entry Price, Target Price, and Stoploss.
This is not exact Pivot Points or CPR. These ranges are corrected for better accuracy and better results.
The chart is divided into Three Zones - No trade Zone, Long Zone, and Short Zone.
Each line indicates the Entry, Exit, and Stoploss for at least one of the zones.
Works Good in Equity.
It also works on Index Charts.
Recommended time frame 15 mins.
Only for Intraday Trading.
THIS IS NOT REGULAR PIVOT POINTS. PLEASE USE CAREFULLY.
™TradeChartist Rubicon™TradeChartist Rubicon is a beautifully designed functional indicator that helps traders enter and exit Long or Short trades with ease.
This indicator is aptly named Rubicon as it studies the candles in the River of Rubicon (Flat Blue River that never stops flowing up and down the chart) through the Lands of Rubicon to find out which army ( Bulls or Bears ) is committing itself to crossing the River and its tides. By doing this for every price candle, the indicator generates BUY and SELL signals along with Targets and real-time Gains on the chart.
What does the ™TradeChartist Rubicon Indicator do?
Plots very high probability BUY and SELL signals on chart
-- Real-time signals are plotted in Orange labels. (Note: Real-time signals repaint. So wait for confirmation before taking a trade position. This feature is included based on feedback from a few traders as some of them like to see a potential direction based on developing candle, its RSI, Stochastic etc.)
-- Confirmed signals are plotted in Green labels for BUY and Red labels for SELL. These signals don't repaint and can be used confidently to enter or exit a trade.
-- Option to choose type of trade opportunity from indicator settings namely - Long trades, Short trades or both, based on which the chart background colour will be green for duration of long trades or red for duration of short trades.
-- Intermediate signals are also plotted between the primary BUY and SELL signals which can be used for re-entry, scalping etc if the opportunity to enter trade at Primary signal was missed. These secondary signals marked as B and S with arrows can be deactivated from indicator settings.
Plots Target levels as soon as BUY or SELL signal is confirmed on chart.
-- These levels can be used as support and resistance levels too.
-- The first 3 TP levels can be used as a litmus test to trade higher levels as the likelihood of price hitting higher profit levels significantly increase when price crosses the first 3 smaller levels.
-- The performance of the current signal can be tracked by using the Show Gains from Primary Signal and the past signals can be accessed by checking Show Past Performance option from Indicator Settings.
Plots % Gains based on candle close in real-time and Max % Gains based on highest since the BUY signal or lowest since the SELL signal. The entry price is normally plotted along with the signals and is an indicative price based on breached resistance. Traders may choose to buy at Market Price or Limit Price based on the price movement at the time of signal generation.
Plots Bulls/Bears waiting price points for chart time-frame if activated from settings. (Default - Not Active)
Automatically plots Bull and Bear power labels along with visually painting the Bull or Bear power on the Lands of Rubicon.
Plots RSI colour candles based on user preferred Overbought and Oversold RSI levels from indicator settings. (Default - 60 Overbought and 30 Oversold)
What markets can this indicator be used on?
Forex
Stocks - works best with 4hr or above and prices calculated taking gaps into account.
Commodities
Cryptocurrencies
and almost any asset on Trading View
Works really well when there is good volume , volatility or both in the asset observed/traded.
What time-frames can this indicator be used on?
This indicator can be used on 1m, 3m, 5m, 10m, 15m, 30m, 1hr, 2hr, 3hr, 4hr, 6hr, 8hr, 12hr, Daily, Weekly, Bi-Weekly and Monthly time-frames. Signal generation based on value, volume and volatility. If an asset has very little volume or is far low in comparative value against the base currency, there can be far too many erratic signals but with most assets, this won't be an issue.
Does this indicator repaint?
No and Yes
-- Once the confirmed BUY (in green) and SELL (in red) signals are posted after a candle close, it doesn't repaint.
-- Repainting happens for real time Orange label BUY and SELL signal on the current candle. Some traders prefer to see the developing signal and trade using RSI, Stochastic etc.
Does the indicator send alerts when a signal is generated?
Yes, traders can get alerts by setting Trading View alerts for BUY/SELL Signals and when a new Profit Target is achieved. For confirmed BUY/SELL alerts, 'Once per bar close' must be used.
Real-time BUY and SELL trigger alerts can also be set using 'Once per bar' or 'Once per minute' as alert frequency.
Some Examples of trades using ™TradeChartist Rubicon indicator
GOLD short trade and Long trade scalping on 15m
GOLD on Daily
SUGAR-USD on 15m
AUD-USD on 5m
LEND-BTC alt pair on Daily
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This is not a free to use indicator. Get in touch with me if you would like access to the indicator for a free trial before deciding on a paid access for a period of your choice.
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