Adaptive Volatility-Scaled Oscillator [AVSO] (Zeiierman)█ Overview
The Adaptive Volatility-Scaled Oscillator (AVSO) is a dynamic trading indicator that measures and visualizes volatility-adjusted market behavior. By scaling various metrics (such as volume, price changes, standard deviation, ATR, and Yang-Zhang volatility) and applying adaptive smoothing, AVSO helps traders identify market conditions where volatility deviates significantly from the norm.
This indicator uses standardized scaling (Z-Score logic) to highlight periods of abnormally high or low volatility relative to recent history. With gradient coloring and clear volatility zones, AVSO provides a visually intuitive way to analyze market volatility and adapt trading strategies accordingly.
█ How It Works
⚪ Scaling Metrics: The indicator scales user-selected metrics (e.g., volume, ATR, standard deviation) relative to the market and price, providing a standardized volatility measure.
⚪ Z-Score Standardization: The scaled metric is normalized using a Z-Score to measure how far current volatility deviates from its recent mean.
Positive Z-Score: Above-average volatility.
Negative Z-Score: Below-average volatility.
⚪ Adaptive Smoothing: An Adaptive EMA smooths the Z-Score, dynamically adjusting its length based on the strength of the volatility. Stronger deviations result in shorter smoothing, increasing responsiveness.
█ Unique Feature: Yang-Zhang Volatility
The Yang-Zhang volatility estimator sets this indicator apart by providing a more robust and accurate measure of volatility compared to traditional methods like ATR or standard deviation.
⚪ What Makes Yang-Zhang Volatility Unique?
Comprehensive Calculation: It combines overnight price gaps (log returns from the previous close to the current open) and intraday price movements (high, low, and close).
Accurate for Gapped Markets: Traditional volatility measures can misrepresent price movement when significant gaps occur between sessions. Yang-Zhang accounts for these gaps, making it highly reliable for assets prone to overnight price jumps, such as stocks, cryptocurrencies, and futures.
Adaptable to Real Market Conditions : By including both close-to-open returns and intraday volatility, it provides a balanced and adaptive measure that captures the full volatility picture.
⚪ Why This Matters to Traders
Better Volatility Insights: Yang-Zhang offers a clearer view of true market volatility, especially in markets with price gaps or uneven trading sessions.
Improved Trade Timing: By identifying volatility spikes and calm periods more effectively, traders can time their entries and exits with greater confidence.
█ How to Use
Identify High and Low Volatility
A high Z-Score (>2) indicates significant market volatility. This can signal momentum-driven moves, breakouts, or areas of increased risk.
A low Z-Score (<-2) suggests low volatility or a calm market environment. This often occurs before a potential breakout or reversal.
Trade Signals
High Volatility Zones (background highlight): Monitor for potential breakouts, trend continuations, or reversals.
Low Volatility Zones: Anticipate range-bound conditions or upcoming volatility spikes.
█ Settings
Source: Select the price source for scaling calculations (close, high, low, open).
Metric Measure: Choose the volatility measure:
Volume: Scales raw volume.
Close: Uses closing price changes.
Standard Deviation: Price dispersion.
ATR: Average True Range.
Yang: Yang-Zhang volatility estimate.
Bars to Analyze: Number of historical bars used to calculate the mean and standard deviation of the scaled metric.
ATR / Standard Deviation Period: Lookback period for ATR or Standard Deviation calculation.
Yang Volatility Period: Period for the Yang-Zhang volatility estimator.
Smoothing Period: Base smoothing length for the adaptive smoothing line.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Cerca negli script per "high low"
simple swing indicator-KTRNSE:NIFTY
1. Pivot High/Low as Lines:
Purpose: Identifies local peaks (pivot highs) and troughs (pivot lows) in price and draws horizontal lines at these levels.
How it Works:
A pivot high occurs when the price is higher than the surrounding bars (based on the pivotLength parameter).
A pivot low occurs when the price is lower than the surrounding bars.
These pivots are drawn as horizontal lines at the price level of the pivot.
Visualization:
Pivot High: A red horizontal line is drawn at the price level of the pivot high.
Pivot Low: A green horizontal line is drawn at the price level of the pivot low.
Example:
Imagine the price is trending up, and at some point, it forms a peak. The script identifies this peak as a pivot high and draws a red line at the price of that peak. Similarly, if the price forms a trough, the script will draw a green line at the low point.
2. Moving Averages (20-day and 50-day):
Purpose: Plots the 20-day and 50-day simple moving averages (SMA) on the chart.
How it Works:
The 20-day SMA smooths the closing price over the last 20 days.
The 50-day SMA smooths the closing price over the last 50 days.
These lines provide an overview of short-term and long-term price trends.
Visualization:
20-day SMA: A blue line showing the 20-day moving average.
50-day SMA: An orange line showing the 50-day moving average.
Example:
When the price is above both moving averages, it indicates an uptrend. If the price crosses below these averages, it might signal a downtrend.
3. Supertrend:
Purpose: The Supertrend is an indicator based on the Average True Range (ATR) and is used to track the market trend.
How it Works:
When the market is in an uptrend, the Supertrend line will be green.
When the market is in a downtrend, the Supertrend line will be red.
Visualization:
Uptrend: The Supertrend line will be plotted in green.
Downtrend: The Supertrend line will be plotted in red.
Example:
If the price is above the Supertrend, the market is considered to be in an uptrend, and if the price is below the Supertrend, the market is in a downtrend.
4. Momentum (Rate of Change):
Purpose: Measures the rate at which the price changes over a set period, showing if the momentum is positive or negative.
How it Works:
The Rate of Change (ROC) measures how much the price has changed over a certain number of periods (e.g., 14).
Positive ROC indicates upward momentum, and negative ROC indicates downward momentum.
Visualization:
Positive ROC: A purple line is plotted above the zero line.
Negative ROC: A purple line is plotted below the zero line.
Example:
If the ROC line is above zero, it means the price is increasing, suggesting bullish momentum. If the ROC is below zero, it indicates bearish momentum.
5. Volume:
Purpose: Displays the volume of traded assets, giving insight into the strength of price movements.
How it Works:
The script will color the volume bars based on whether the price closed higher or lower than the previous bar.
Green bars indicate bullish volume (closing price higher than the previous bar), and red bars indicate bearish volume (closing price lower than the previous bar).
Visualization:
Bullish Volume: Green volume bars when the price closes higher.
Bearish Volume: Red volume bars when the price closes lower.
Example:
If you see a green volume bar, it suggests that the market is participating in an uptrend, and the price has closed higher than the previous period. Red bars indicate a downtrend or selling pressure.
6. MACD (Moving Average Convergence Divergence):
Purpose: The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of the price.
How it Works:
The MACD Line is the difference between the 12-period EMA (Exponential Moving Average) and the 26-period EMA.
The Signal Line is the 9-period EMA of the MACD Line.
The MACD Histogram shows the difference between the MACD line and the Signal line.
Visualization:
MACD Line: A blue line representing the difference between the 12-period and 26-period EMAs.
Signal Line: An orange line representing the 9-period EMA of the MACD line.
MACD Histogram: A red or green histogram that shows the difference between the MACD line and the Signal line.
Example:
When the MACD line crosses above the Signal line, it’s considered a bullish signal. When the MACD line crosses below the Signal line, it’s considered a bearish signal.
Full Chart Example:
Imagine you're looking at a price chart with all the indicators:
Pivot High/Low Lines are drawn as red and green horizontal lines.
20-day and 50-day SMAs are plotted as blue and orange lines, respectively.
Supertrend shows a green or red line indicating the trend.
Momentum (ROC) is shown as a purple line oscillating around zero.
Volume bars are green or red based on whether the close is higher or lower.
MACD appears as a blue line and orange line, with a red or green histogram showing the MACD vs. Signal line difference.
How the Indicators Work Together:
Trend Confirmation: If the price is above the Supertrend line and both SMAs are trending up, it indicates a strong bullish trend.
Momentum: If the ROC is positive and the MACD line is above the Signal line, it further confirms bullish momentum.
Volume: Increasing volume, especially with green bars, suggests that the trend is being supported by active participation.
By using these combined indicators, you can get a comprehensive view of the market's trend, momentum, and potential reversal points (via pivot highs and lows).
Previous Daily Candle The Previous Daily Candle indicator is a powerful tool designed to enhance your intraday trading by providing clear visual cues of the previous day's price action. By outlining the high, low, open, and close of the previous daily candle and adding a middle dividing line, this indicator offers valuable context to inform your trading decisions.
🎯 Purpose
Visual Clarity: Highlight the key levels from the previous day's price movement directly on your intraday charts.
Trend Confirmation: Quickly identify bullish or bearish sentiment based on the previous day's candle structure.
Support and Resistance: Use the outlined high and low as potential support and resistance levels for your trading strategies.
Customizable Visualization: Tailor the appearance of the outlines and middle line to fit your trading style and chart aesthetics.
🛠️ Features
Outlined Candle Structure:
High and Low Lines: Clearly mark the previous day's high and low with customizable colors and line widths.
Open and Close Representation: Visualize the previous day's open and close through the outlined structure.
Middle Dividing Line:
Average Price Level: A horizontal line divides the candle in half, representing the average of the open and close prices.
Customizable Appearance: Adjust the color and thickness to distinguish it from the high and low outlines.
Bullish and Bearish Differentiation:
Color-Coded Outlines: Automatically change the outline color based on whether the previous day's candle was bullish (green by default) or bearish (red by default).
Enhanced Visual Feedback: Quickly assess market sentiment with intuitive color cues.
Customization Options:
Outline Colors: Choose distinct colors for bullish and bearish candle outlines to match your chart's color scheme.
Middle Line Color: Select a color that stands out or blends seamlessly with your existing chart elements.
Line Width Adjustment: Modify the thickness of all lines to ensure visibility without cluttering the chart.
Transparent Candle Body:
Non-Intrusive Display: The indicator only draws the outlines and middle line, keeping the candle body transparent to maintain the visibility of your primary chart data.
⚙️ How It Works
Data Retrieval: The indicator fetches the previous day's open, high, low, and close prices using TradingView's request.security function.
Candle Analysis: Determines whether the previous day's candle was bullish or bearish by comparing the close and open prices.
Dynamic Drawing: Upon the start of a new day, the indicator deletes the previous outlines and redraws them based on the latest data.
Time Synchronization: Accurately aligns the outlines with the corresponding time periods on your intraday chart.
📈 How to Use
Add to Chart:
Open TradingView and navigate to the Pine Editor.
Paste the provided Pine Script code into the editor.
Click on Add to Chart to apply the indicator.
Customize Settings:
Access the indicator's settings by clicking the gear icon next to its name on the chart.
Adjust the Bullish Outline Color, Bearish Outline Color, Middle Line Color, and Outline Width to your preference.
Interpret the Lines:
Bullish Candle: If the previous day's close is higher than its open, the outlines will display in the bullish color (default green).
Bearish Candle: If the previous day's close is lower than its open, the outlines will display in the bearish color (default red).
Middle Line: Represents the midpoint between the open and close, providing a quick reference for potential support or resistance.
Integrate with Your Strategy:
Use the high and low outlines as potential entry or exit points.
Combine with other indicators for confirmation to strengthen your trading signals.
Advanced Physics Financial Indicator Each component represents a scientific theory and is applied to the price data in a way that reflects key principles from that theory.
Detailed Explanation
1. Fractal Geometry - High/Low Signal
Concept: Fractal geometry studies self-similar patterns that repeat at different scales. In markets, fractals can be used to detect recurring patterns or turning points.
Implementation: The script detects pivot highs and lows using ta.pivothigh and ta.pivotlow, representing local turning points in price. The fractalSignal is set to 1 for a pivot high, -1 for a pivot low, and 0 if there is no signal. This logic reflects the cyclical, self-similar nature of price movements.
Practical Use: This signal is useful for identifying local tops and bottoms, allowing traders to spot potential reversals or consolidation points where fractal patterns emerge.
2. Quantum Mechanics - Probabilistic Monte Carlo Simulation
Concept: Quantum mechanics introduces uncertainty and probability into systems, much like how future price movements are inherently uncertain. Monte Carlo simulations are used to model a range of possible outcomes based on random inputs.
Implementation: In this script, we simulate 100 random outcomes by generating a random number between -1 and 1 for each iteration. These random values are stored in an array, and the average of these values is calculated to represent the Quantum Signal.
Practical Use: This probabilistic signal provides a sense of randomness and uncertainty in the market, reflecting the possibility of price movement in either direction. It simulates the market’s chaotic nature by considering multiple possible outcomes and their average.
3. Thermodynamics - Efficiency Ratio Signal
Concept: Thermodynamics deals with energy efficiency and entropy in systems. The efficiency ratio in financial terms can be used to measure how efficiently the price is moving relative to volatility.
Implementation: The Efficiency Ratio is calculated as the absolute price change over n periods divided by the sum of absolute changes for each period within n. This ratio shows how much of the price movement is directional versus random, mimicking the concept of efficiency in thermodynamic systems.
Practical Use: A high efficiency ratio suggests that the market is trending smoothly (high efficiency), while a low ratio indicates choppy, non-directional movement (low efficiency, or high entropy).
4. Chaos Theory - ATR Signal
Concept: Chaos theory studies how complex systems are highly sensitive to initial conditions, leading to unpredictable behavior. In markets, chaotic price movements can often be captured through volatility indicators.
Implementation: The script uses a very long ATR period (1000) to reflect slow-moving chaos over time. The Chaos Signal is computed by measuring the deviation of the current price from its long-term average (SMA), normalized by ATR. This captures price deviations over time, hinting at chaotic market behavior.
Practical Use: The signal measures how far the price deviates from its long-term average, which can signal the degree of chaos or extreme behavior in the market. High deviations indicate chaotic or volatile conditions, while low deviations suggest stability.
5. Network Theory - Correlation with BTC
Concept: Network theory studies how different components within a system are interconnected. In markets, assets are often correlated, meaning that price movements in one asset can influence or be influenced by another.
Implementation: This indicator calculates the correlation between the asset’s price and the price of Bitcoin (BTC) over 30 periods. The Network Signal shows how connected the asset is to BTC, reflecting broader market dynamics.
Practical Use: In a highly correlated market, BTC can act as a leading indicator for other assets. A strong correlation with BTC might suggest that the asset is likely to move in line with Bitcoin, while a weak or negative correlation might indicate that the asset is moving independently.
6. String Theory - RSI & MACD Interaction
Concept: String theory attempts to unify the fundamental forces of nature into a single framework. In trading, we can view the RSI and MACD as interacting forces that provide insights into momentum and trend.
Implementation: The script calculates the RSI and MACD and combines them into a single signal. The formula for String Signal is (RSI - 50) / 100 + (MACD Line - Signal Line) / 100, normalizing both indicators to a scale where their contributions are additive. The RSI represents momentum, and MACD shows trend direction and strength.
Practical Use: This signal helps in detecting moments where momentum (RSI) and trend strength (MACD) align, giving a clearer picture of the asset's direction and overbought/oversold conditions. It unifies these two indicators to create a more holistic view of market behavior.
7. Fluid Dynamics - On-Balance Volume (OBV) Signal
Concept: Fluid dynamics studies how fluids move and flow. In markets, volume can be seen as a "flow" that drives price movement, much like how fluid dynamics describe the flow of liquids.
Implementation: The script uses the OBV (On-Balance Volume) indicator to track the cumulative flow of volume based on price changes. The signal is further normalized by its moving average to smooth out fluctuations and make it more reflective of price pressure over time.
Practical Use: The Fluid Signal shows how the flow of volume is driving price action. If the OBV rises significantly, it suggests that there is strong buying pressure, while a falling OBV indicates selling pressure. It’s analogous to how pressure builds in a fluid system.
8. Final Signal - Combining All Physics-Based Indicators
Implementation: Each of the seven physics-inspired signals is combined into a single Final Signal by averaging their values. This approach blends different market insights from various scientific domains, creating a comprehensive view of the market’s condition.
Practical Use: The final signal gives you a holistic, multi-dimensional view of the market by merging different perspectives (fractal behavior, quantum probability, efficiency, chaos, correlation, momentum/trend, and volume flow). This approach helps traders understand the market's dynamics from multiple angles, offering deeper insights than any single indicator.
9. Color Coding Based on Signal Extremes
Concept: The color of the final signal plot dynamically reflects whether the market is in an extreme state.
Implementation: The signal color is determined using percentiles. If the Final Signal is in the top 55th percentile of its range, the signal is green (bullish). If it is between the 45th and 55th percentiles, it is orange (neutral). If it falls below the 45th percentile, it is red (bearish).
Practical Use: This visual representation helps traders quickly identify the strength of the signal. Bullish conditions (green), neutral conditions (orange), and bearish conditions (red) are clearly distinguished, simplifying decision-making.
Pivot Data [QuantVue]The Pivot Data Indicator is designed to provide traders with valuable insights by identifying and analyzing pivot points on the price chart. It calculates both pivot highs and lows, then presents detailed statistics on the distance and time between these pivots.
a pivot point is defined as a specific point on the chart where the price either reaches a high or a low, with no bars higher or lower than it for a set number of bars on both sides (left and right). Essentially, it's a local high or low point, with the market moving in the opposite direction after the pivot forms.
For example:
A pivot high occurs when there are no bars with higher prices for a specified number of bars before and after that point.
A pivot low occurs when there are no bars with lower prices for the same number of bars on either side.
The number of bars to the left and right is adjustable via the Pivot Lookback Bars setting, allowing you to define how many bars are used to determine these pivot points.
Key features include:
Pivot Highs and Lows Identification: Automatically marks significant pivot highs and lows based on a user-defined lookback period, helping traders identify potential trend reversals or continuation points.
Prediction Labels: Provides forecasted pivot levels based on historical pivot price and time patterns, with options to show predictions for pivot highs, lows, or any pivot point.
Customizable Table Display: Displays a table summarizing important statistics, such as the average price percentage and the number of bars between pivots, along with the distance and time from the most recent pivot.
Traders can use this tool to map out potential levels of support and resistance based on historical data on pivot points.
Internal Bar Strength IBS [Anan]This indicator calculates and displays the Internal Bar Strength (IBS) along with its moving average. The IBS is a measure that represents where the closing price is relative to the high-low range of a given period.
█ Main Formula
The core of this indicator is the Internal Bar Strength (IBS) calculation. The basic IBS formula is:
ibs = (close - low) / (high - low)
I enhanced the original formula by incorporating a user-defined length parameter. This modification allows for greater flexibility in analysis and interpretation. The extended version enables users to adjust the indicator's length according to their specific needs or market conditions. Notably, setting the length parameter to 1 reproduces the behavior of the original formula, maintaining backward compatibility while offering expanded functionality:
ibs = (close - ta.lowest(low, ibs_length)) / (ta.highest(high, ibs_length) - ta.lowest(low, ibs_length))
Where:
- `close` is the closing price of the current bar
- `lowest low` is the lowest low price over the specified IBS length
- `highest high` is the highest high price over the specified IBS length
█ Key Features
- Calculates IBS using a user-defined length
- Applies a moving average to the IBS values
- Offers multiple moving average types
- Includes optional Bollinger Bands or Donchian Channel overlays
- Visualizes bull and bear areas
█ Inputs
- IBS Length: The period used for IBS calculation
- MA Type: The type of moving average applied to IBS (options: SMA, EMA, SMMA, WMA, VWMA, Bollinger Bands, Donchian)
- MA Length: The period used for the moving average calculation
- BB StdDev: Standard deviation multiplier for Bollinger Bands
█ How to Use and Interpret
1. IBS Line Interpretation:
- IBS values range from 0 to 1
- Values close to 1 indicate the close was near the high, suggesting a bullish sentiment
- Values close to 0 indicate the close was near the low, suggesting a bearish sentiment
- Values around 0.5 suggest the close was near the middle of the range
2. Overbought/Oversold Conditions:
- IBS values above 0.8 (teal zone) may indicate overbought conditions
- IBS values below 0.2 (red zone) may indicate oversold conditions
- These zones can be used to identify potential reversal points
3. Trend Identification:
- Consistent IBS values above 0.5 may indicate an uptrend
- Consistent IBS values below 0.5 may indicate a downtrend
4. Using Moving Averages:
- The yellow MA line can help smooth out IBS fluctuations
- Crossovers between the IBS and its MA can signal potential trend changes
5. Bollinger Bands/Donchian Channel:
- When enabled, these can provide additional context for overbought/oversold conditions
- IBS touching or exceeding the upper band may indicate overbought conditions
- IBS touching or falling below the lower band may indicate oversold conditions
Remember that no single indicator should be used in isolation. Always combine IBS analysis with other technical indicators, price action analysis, and broader market context for more reliable trading decisions.
Dynamic Support & Resistance Tracker with MTFDynamic Support & Resistance Tracker with Weekly, Monthly & Daily Levels
The Dynamic Support & Resistance Tracker is designed to help traders identify key support and resistance levels across multiple timeframes, enhancing market analysis and decision-making. This indicator calculates and plots support and resistance levels for daily, weekly, and monthly periods, along with extension lines that provide insights into potential price targets.
Key Features:
Multi-Timeframe Analysis:
Daily Levels: Identifies the high, low, and midpoint for each trading day. These levels help traders recognize important price points for short-term trading strategies.
Weekly Levels: Plots the high, low, and midpoint for each week. This feature is valuable for swing traders who need to understand broader market trends.
Monthly Levels: Displays the high, low, and midpoint for each month, which is essential for long-term investors.
Extension Lines:
Calculates extension lines beyond the standard support and resistance levels to help anticipate potential price targets and reversals. These extensions are based on the distance between the high/low and midpoint levels.
Real-Time Updates:
Automatically updates the levels based on the most recent market data, ensuring traders have the most current information for their analysis.
Clear Visuals:
The indicator provides clearly labeled and color-coded lines for easy identification of key levels, improving the visual clarity of market analysis.
How It Works:
Daily, Weekly, and Monthly Levels: The indicator calculates the high, low, and midpoint levels for daily, weekly, and monthly timeframes and plots them on the chart. These levels serve as potential areas of support and resistance where price action may react.
Extension Lines: The extension lines are calculated based on the distance between the high/low and midpoint levels, projecting potential areas where price may find support or resistance beyond the standard levels.
Automatic Updates: The indicator continuously updates the plotted levels based on the latest market data, providing real-time insights.
Benefits:
Improved Market Analysis: By providing a clear view of support and resistance levels across multiple timeframes, this indicator helps traders understand market trends and price movements more effectively.
Informed Trading Decisions: The detailed plotting of levels and extensions allows traders to make more informed decisions, enhancing their trading strategies.
Versatility: Suitable for various trading styles, including intraday trading, swing trading, and long-term investing.
Instructions for Use:
Analyze the Levels: Observe the plotted high, low, and mid-levels for daily, weekly, and monthly timeframes.
Plan Your Trades: Use the identified support and resistance levels to set your entry and exit points, stop-losses, and profit targets.
Monitor the Market: Stay updated with real-time adjustments of the levels, ensuring you always have the latest market information.
Note: This indicator is designed to enhance your trading analysis by providing clear and reliable support and resistance levels. However, it should be used as part of a comprehensive trading strategy and not as the sole basis for trading decisions.
Reversal Zones with SignalsThe "Reversal Zones with Signals" indicator is an advanced technical analysis tool designed to help traders identify potential market reversal points. By integrating Relative Strength Index (RSI), moving averages, and swing high/low detection, this indicator provides traders with clear visual cues for potential buy and sell opportunities.
Key Features and Benefits
Integration of Multiple Technical Analysis Tools:
The indicator seamlessly combines RSI, moving averages, and swing high/low detection. This multi-faceted approach enhances the reliability of the signals by confirming potential reversals through different technical analysis perspectives.
Customizable Parameters:
Users can adjust the sensitivity of the moving averages, the RSI overbought and oversold levels, and the length of the reversal zones. This flexibility allows traders to tailor the indicator to fit their specific trading strategies and market conditions.
Clear Visual Signals:
Buy and sell signals are plotted directly on the chart as easily recognizable green and red labels. This visual clarity simplifies the process of identifying potential entry and exit points, enabling traders to act quickly and decisively.
Reversal Zones:
The indicator plots reversal zones based on swing highs and lows in conjunction with RSI conditions. Green lines represent potential support levels (zone bottoms), while red lines represent potential resistance levels (zone tops). These zones provide traders with clear areas where price reversals are likely to occur.
Automated Alerts:
Custom alerts can be set for both buy and sell signals, providing real-time notifications when potential trading opportunities arise. This feature ensures that traders do not miss critical market moves.
How It Works
RSI Calculation:
The Relative Strength Index (RSI) is calculated to determine overbought and oversold conditions. When RSI exceeds the overbought threshold, it indicates that the market may be overbought, and when it falls below the oversold threshold, it indicates that the market may be oversold. This helps in identifying potential reversal points.
Swing High/Low Detection:
Swing highs and lows are detected using a specified lookback period. These points represent significant price levels where reversals are likely to occur. Swing highs are detected using the ta.pivothigh function, and swing lows are detected using the ta.pivotlow function.
Reversal Zones:
Reversal zones are defined by plotting lines at swing high and low levels when RSI conditions are met. These zones serve as visual cues for potential support and resistance areas, providing a structured framework for identifying reversal points.
Buy and Sell Signals:
Buy signals are generated when the price crosses above a defined reversal zone bottom, indicating a potential upward reversal. Sell signals are generated when the price crosses below a defined reversal zone top, indicating a potential downward reversal. These signals are further confirmed by the presence of bullish or bearish engulfing patterns.
Plotting and Alerts:
The indicator plots buy and sell signals directly on the chart with corresponding labels. Additionally, alerts can be set up to notify the user when a signal is generated, ensuring timely action.
Originality and Usefulness
Innovative Integration of Technical Tools:
The "Reversal Zones with Signals" indicator uniquely combines multiple technical analysis tools into a single, cohesive indicator. This integration provides a comprehensive view of market conditions, enhancing the accuracy of the signals and offering a robust tool for traders.
Enhanced Trading Decisions:
By providing clear and actionable signals, the indicator helps traders make better-informed decisions. The visualization of reversal zones and the integration of RSI and moving averages ensure that traders have a solid framework for identifying potential reversals.
Flexibility and Customization:
The customizable parameters allow traders to adapt the indicator to different trading styles and market conditions. This flexibility ensures that the indicator can be used effectively by a wide range of traders, from beginners to advanced professionals.
Clear and User-Friendly Interface:
The indicator's design prioritizes ease of use, with clear visual signals and intuitive settings. This user-friendly approach makes it accessible to traders of all experience levels.
Real-Time Alerts:
The ability to set up custom alerts ensures that traders are notified of potential trading opportunities as they arise, helping them to act quickly and efficiently.
Versatility Across Markets:
The indicator is suitable for use in various financial markets, including stocks, forex, and cryptocurrencies. Its adaptability across different asset classes makes it a valuable addition to any trader's toolkit.
How to Use
Adding the Indicator:
Add the "Reversal Zones with Signals" indicator to your chart.
Adjust the parameters (Sensitivity, RSI OverBought Value, RSI OverSold Value, Zone Length) to match your trading strategy and market conditions.
Interpreting Signals:
Buy Signal: A green "BUY" label appears below a bar, indicating a potential buying opportunity based on the detected reversal zone and price action.
Sell Signal: A red "SELL" label appears above a bar, indicating a potential selling opportunity based on the detected reversal zone and price action.
Setting Alerts:
Set alerts for buy and sell signals to receive notifications when potential trading opportunities arise. This ensures timely action and helps traders stay informed about critical market moves.
CPR by MTThe CPR indicator, or Central Pivot Range indicator, is a technical analysis tool used in trading to identify potential support and resistance levels based on the price action of a security. Developed by pivot point theory, it is particularly popular among day traders and swing traders. The CPR indicator consists of three lines:
1. **Pivot Point (PP):** This is the central line and is calculated as the average of the high, low, and closing prices from the previous trading period.
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2. **Top Central Pivot (TC):** This is calculated by subtracting the low from the PP and then adding the result to the PP.
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3. **Bottom Central Pivot (BC):** This is calculated by subtracting the high from the PP and then adding the result to the PP.
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### How to Use the CPR Indicator
- **Trend Identification:** A wide CPR range indicates low volatility and a potential sideways or consolidation phase. A narrow CPR range indicates high volatility and a potential strong trending move.
- **Support and Resistance:** The top and bottom central pivots act as immediate resistance and support levels. If the price is above the TC, it indicates a bullish sentiment, while if it is below the BC, it indicates a bearish sentiment.
- **Entry and Exit Points:** Traders use the CPR lines to determine optimal entry and exit points. For example, if the price breaks above the TC and sustains, it may signal a buy opportunity, whereas a drop below the BC may signal a sell opportunity.
### Practical Example
Suppose a stock had a high of $105, a low of $95, and a closing price of $100 on the previous day. The CPR levels for the next day would be calculated as follows:
1. **Pivot Point (PP):**
\
2. **Top Central Pivot (TC):**
\
3. **Bottom Central Pivot (BC):**
\
The levels for the next day would be PP = $100, TC = $110, and BC = $90. Traders would then use these levels to assess potential trading strategies based on where the price moves relative to these levels.
### Conclusion
The CPR indicator is a useful tool for traders looking to understand market conditions and make informed decisions about entry and exit points. Its effectiveness comes from its ability to highlight key price levels derived from historical price data, helping traders predict potential market movements.
20,200SMA,PDHL,15 minute ORBSimple Moving Averages (SMAs):
The script calculates three SMAs: SMA 20 High, SMA 20 Low, and SMA 200 Close. These moving averages are widely used in technical analysis to smooth out price data and identify trends.
The SMA for the high price (SMA 20 High) is calculated based on the 20-period moving average of the high prices.
Similarly, the SMA for the low price (SMA 20 Low) is calculated based on the 20-period moving average of the low prices.
The SMA for the close price (SMA 200 Close) is calculated based on the 200-period moving average of the closing prices.
Each SMA is plotted on the chart, and their colors are determined based on whether the current close price is above or below each respective SMA.
Conditional Coloring:
The script employs conditional coloring to visually highlight whether the close price is above or below each SMA.
If the close price is below the SMA 20 High, it's plotted in red; otherwise, it's plotted in green.
Similarly, the SMA 20 Low and SMA 200 Close are plotted with conditional colors based on the relationship between the close price and each respective SMA.
Previous Day's Data:
The script retrieves and plots the high, low, and close prices of the previous trading day.
This provides traders with valuable information about the previous day's market behavior, which can influence trading decisions.
Opening 15-minute Range Breakout:
The script calculates the high and low prices during the first 15 minutes of each trading day.
These prices represent the opening range for the day.
It then determines whether the current close price is above or below this opening range and plots it accordingly.
This breakout strategy helps traders identify potential trading opportunities based on early price movements.
By integrating these components, the script offers traders a comprehensive analysis of market trends, previous day's performance, and potential breakout opportunities. Its originality lies in the combination of these features into a single, easy-to-use indicator, providing valuable insights for trading decisions.
yatsThis is a helper indicator for "yats" (Yet Another Trading Strategy).
This is a grouping of several indicators in one to help with a very basic trend following strategy. In order to utilize this indicator, it is best to have your chart set to a Line chart.
How to use:
This is a basic trend strategy in which the trader will enter or reverse their position on the break of the trend.
With the chart set to line and the source set to close, a basic line with peaks and valleys is displayed.
When the line peaks, then retreats, this is a potential setup for a long position. The trader is to wait for a valley (lower point) to be formed and then for the previous peak to be broken.
The timeframe continuity labels in the lower right of the chart help to ensure the position taken is in line with the higher timeframe trend.
Example scenario (long):
Chart is set to 1H timeframe. Timeframe continuity indicator will have labels for 1H, 4H, Day, WK, MN, and QTR. Chart shows a peak at a close price of 5 then the next bar sets a valley at a close price of 4.
Next bar forms and sets a close price of 6. Timeframe continuity labels are green for 1H, 4H, Day, and WK. (At least three higher timeframes should match the direction of the desired trade.)
This is a signal to go long as the previous peak was broken and timeframe continuity is in the direction
of the trade (long). Initial conservative stoploss should be placed at the previous valley (4). A wider stoploss could be placed at the low created when the close was 4. This is made visible by the default red line
when Candle Highs and Lows plots are turned on. Stoploss is then trailed up either by each subsequent higher low, OR with each subsequent dip as price moves higher.
A target can be set, but is not an integral part of this strategy.
Features:
Full Timeframe Continuity:
In the lower right corner of the chart will be indicators for timeframes greater than or equal to the chart timeframe.
Each one will be Red, Green, or White to indicate down, up, or flat. This provides you with the direction of the higher timeframes in real time, before the bar has closed.
Potential Support/Resistance Points:
The indicator plots horizontal rays for the previous Day, Week, and Month for the High, Low, and Close. Day = Orange, Week = White, Month = Purple. High and Low are solid lines while Close is a dashed line.
This provides the trader with potential pivot points based on higher timeframe high, low, and close prices. The horizontal rays will automatically move to the right at the start of the newest day, week, or month.
Candle Highs and Lows:
Since the chart should be set to Line instead of Candles or Bars, this indicator provides plots that follow the Highs (Green) and Lows (Red) of each 'bar' of the chart timeframe. This has been made configurable
so these lines can be turned off or edited in the settings for those who do not want them on the chart or just want them to look different.
swinglibraryLibrary "swinglibrary"
This library is for calculating non-repainting swings for further calculation on them.
These swings can later be drawn, but drawing is not part of this library, only the calculation.
What do I need to use the library?
You better include the following constants into your script using this library:
int SWING_NO_ACTION = 0
int SWING_FLIP = 1
int SWING_FLIP_NEW_SWING = 2
int SWING_FLIP_UPDATED = 3
int RELATION_HIGHER = 1
int RELATION_EQUAL = 0
int RELATION_LOWER = -1
Choosing the function, that fits your needs
This library contains 4 functions for calculating swings, the difference between them are the data you get for every swing point and additional average values for length and duration:
swings()
swingsR()
swingsL()
swingsLDR()
The naming scheme of these functions is the following:
The base version swings() is only for the swings containing the following swingPoint type:
swingPoint
Fields:
x (integer) : bar index
y (float) : price
hilo (integer) 1 -> high, -1 -> low
and the return type:
swingReturn
Fields:
swings (array) : array of the last x swing points
newSwingHigh (integer) : flag to detect changes for swing highs see constants (SWING_NO_ACTION, SWING_FLIP_NEW_SWING, SWING_FLIP_UPDATED)
newSwingLow (integer) : flag to detect changes for swing lows see constants (SWING_NO_ACTION, SWING_FLIP_NEW_SWING, SWING_FLIP_UPDATED)
The R in swingsR() stands for relation where the previously shown types do also contain the relation between the swings of the same swing type (highs and lows respectively).
The same goes for L in swingsL() for length containing the price difference between the current and previous swing point in ticks.
And in the following version swingsLDR() there is also the duration between the current and previous point included.
The parameters for the other functions and type definitions include only the ones, that are needed, the "full" version of the function is described here:
swingsLDR(swingSize, dtbStrength, init, SWING_HISTORY_NUM)
Parameters:
swingSize (int) This parameter defines the size of the swings to look after, meaning higher values will lead to bigger swings
dtbStrength (int) Value between 0 and 100 is a factor (%) to the ATR that is used to calculate equal highs/lows (double tops / bottoms).
Higher values will result in a higher tolerance of price difference between the swings.
init (bool) This value is usually set to false on default.
It has a special use case, where we need to reduce memory usage and calculation time on the script using this library by start calculating at x bars back instead of the beginning of the chart.
In this case, we set init = true on the first bar we start calculating the swings on to perform the correct initialization.
SWING_HISTORY_NUM (int) This is the max number of swings that are stored in the array, so only the last SWING_HISTORY_NUM swings are stored in the array to reduce the memory usage.
New ones remove the oldest ones like in a ring buffer.
This is also influencing the average duration and average swing length.
swingPointLDR
Fields:
x (integer) : bar index
y (float) : price
hilo (integer) : 1 -> high, -1 -> low
length (float) : price difference to the previous swing point in ticks
duration (integer) : duration difference to the previous swing point in number of bars
relation (integer) : see constants RELATION_HIGHER, RELATION_EQUAL, RELATION_LOWER: reelation to the previous swing points of the same type (previous high or previous low respectively)
swingReturnLDR
Fields:
swings (array) : array of the last x swing points
newSwingHigh (integer) : flag to detect changes for swing highs see constants (SWING_NO_ACTION, SWING_FLIP_NEW_SWING, SWING_FLIP_UPDATED)
newSwingLow (integer) : flag to detect changes for swing lows see constants (SWING_NO_ACTION, SWING_FLIP_NEW_SWING, SWING_FLIP_UPDATED)
avSwLength (float) : average swing length for the last x swings (depending on the max number of swings)
avSwingDuration (float) : average swing duration for the last x swings (depending on the max number of swings)
Day First Candle BreakoutR-DFCB V1.5: Day First Candle Breakout
This indicator identifies potential breakout opportunities based on the first candle of the trading day. It considers the high and low of the initial trading range to determine possible entry points, along with the previous day's high and low to gauge the strength of the trend.
Key Features:
Day First Candle Breakout: Analyzes the first candle of the trading day to identify potential breakout scenarios.
Timeframe Selection: Allows users to select the timeframe for analyzing the first candle (e.g., 5, 15, or 60 minutes).
Previous Day and Week High/Low: Displays the high and low of the previous day and week to provide additional context for trading decisions.
Previous Day Trend Strength: Indicates whether the current price is above or below the previous day's high or low, signaling a stronger bullish or bearish trend respectively.
Trading Signals:
Buy Signal: Triggered when the price exceeds the high of the initial trading range after an upward price gap.
Sell Signal: Generated when the price falls below the low of the initial trading range after a downward price gap.
Trend Strength Analysis:
Strong Bullish Trend: If the current price is above the previous day's high, it indicates a stronger bullish trend.
Strong Bearish Trend: If the current price is below the previous day's low, it suggests a stronger bearish trend.
Caveats for Effective Trading:
Extended Trading Ranges: Adjusts support and resistance levels if the initial trading range extends beyond the defined timeframe.
Morning Noise Consideration: Exercises caution during volatile morning sessions to avoid false breakouts and whipsaws.
Pullbacks and Narrow Range Bars: Looks for opportunities during pullbacks or when the price forms narrow range bars to enter trades, reducing the risk of sudden reversals.
Implied Orderblock Breaker (Zeiierman)█ Overview
The Implied Order Block Breaker (Zeiierman) is a tool designed to identify enhanced order blocks with imbalances. These enhanced order blocks represent areas where there is a rapid price movement. Essentially, this indicator uses order blocks and suggests that a swift price movement away from these levels, breaking the current market structure, could indicate an area that the market has not correctly valued. This technique offers traders a unique method to identify potential market inefficiencies and imbalances, serving as a guide for potential price revisits.
The indicator doesn't scan for imbalances in the traditional sense — where there's an absence of trades between two price levels — but instead, it identifies quick movements away from key levels that suggest where an imbalance might exist. Relying on crossovers and cross-unders in conjunction with pivot points and examining the high/low within the same period provides an innovative method for traders to spot these potentially undervalued or overvalued areas in the market. These inferred imbalances can be crucial for traders looking for price levels where the market might make significant moves.
█ How It Works
Bullish
Crossover: The closing price of a bar crosses above a pivot high, which is an indication that buyers are in control and pushing the price upwards.
New Low Within Period: There is a lower low within the same period as the pivot high. This suggests that after setting a high, the market pulled back to set a new low, potentially leaving a price gap on the way up as the price quickly recovers.
Bearish
Crossunder: The closing price of a bar crosses under a pivot low, indicating that sellers are taking control and driving the price down.
New High Within Period: There is a higher high within the same period as the pivot low. This condition suggests that the market rallied to a new high before falling back below the pivot low, potentially leaving a gap on the way down.
█ How to Use
The enhanced order blocks are often revisited, and the price may aim to 'fill' the potential imbalance created by the rapid price movement, thereby presenting traders with potential entry or exit points. This approach aligns with the idea that imbalances are frequently revisited by the market, and when combined with the context of Order Blocks, it provides even more confluence.
Example
Here, if the price drops rapidly after setting a new high—crossing under the pivot low—it may skip over certain price levels, creating a 'gap' that signifies an area where the price might have been overvalued (imbalance), which the market may revisit for a potential price correction or revaluation.
█ Settings
Period: Determines the number of bars used for identifying pivot highs and lows. A higher value gives more significant but less frequent signals, while a lower value increases sensitivity but might give more false positives.
Pivot Surrounding: Specifies the number of candles to analyze around a pivot point. Increasing this value broadens the analysis range, potentially capturing more setups but possibly including less significant ones.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Donch +This is an indicator I made for trading Forex to help me see the bigger picture. It is meant for the 30min TF and it includes the following:
- 20 Day High | Low
- 5 Day High | Low
- 4 Hour High | L
- 4 Hour Bars
- Daily Simple Moving Averages
- Weekly Trend Line (connects last week's open to this week's open)
- Daily Trend Line (connects yesterday's open to today's open)
- Horizontal Lines at 0.25% increments (these can be useful for S/R... currency rarely moves more than 1% in a day).
- A table with information about what markets are open and technicals on the pair I am looking at.
- A slight white background fill to highlight the first hour of the US session. Knowing what session you are in is very important in day trading (in my opinion). This lets me go back and see how the US has been trading.
To keep the chart from being "too busy" (it's plenty busy lol), I use a step line and focus on 30min closes. I reference the white lines above and below closes for 4hr highs/lows and don't bother with looking at the high/low of every 30 min bar.
For the table, you will see bright green by the country for the first hour of trading in that session. It will turn to a regular green after the first hour. It will turn yellow the final hour of that session. It will turn red if that market is closed.
You can select from the settings 'inputs' tab to enable/disable any parts of this you don't find useful, for the table you'd go over to the 'style' tab and unselect it there. For example, I don't use the labels regularly. If I were to get confused about what a moving average was or something, I'd enable the labels and clarify.
Currency doesn't like to break out and likes to be stable. Keeping this in mind, you can see how the 20 day high / low and the 5 day high / low act as support and resistance (unless there is a news event to break out on.
I have alerts for the following:
- Price update every hour
- Crossing a trend line
- Crossing a moving average
- Crossing a 0.25% increment
- Making a new 4 hour, 5 day, or 20 day high/low
To enable the alerts, you would click add alert, select the indicator, and click save. To work properly, you'd want to be on the 30min TF before doing this. You will get a lot of alerts (personally I like this because I like to see how currency moves throughout the day). You will get one notification per 30 minutes but not more than that for the particular alert.
Machine Learning: VWAP [YinYangAlgorithms]Machine Learning: VWAP aims to use Machine Learning to Identify the best location to Anchor the VWAP at. Rather than using a traditional fixed length or simply adjusting based on a Date / Time; by applying Machine Learning we may hope to identify crucial areas which make sense to reset the VWAP and start anew. VWAP’s may act similar to a Bollinger Band in the sense that they help to identify both Overbought and Oversold Price locations based on previous movements and help to identify how far the price may move within the current Trend. However, unlike Bollinger Bands, VWAPs have the ability to parabolically get quite spaced out and also reset. For this reason, the price may never actually go from the Lower to the Upper and vice versa (when very spaced out; when the Upper and Lower zones are narrow, it may bounce between the two). The reason for this is due to how the anchor location is calculated and in this specific Indicator, how it changes anchors based on price movement calculated within Machine Learning.
This Indicator changes the anchor if the Low < Lowest Low of a length of X and likewise if the High > Highest High of a length of X. This logic is applied within a Machine Learning standpoint that likewise amplifies this Lookback Length by adding a Machine Learning Length to it and increasing the lookback length even further.
Due to how the anchor for this VWAP changes, you may notice that the Basis Line (Orange) may act as a Trend Identifier. When the Price is above the basis line, it may represent a bullish trend; and likewise it may represent a bearish trend when below it. You may also notice what may happen is when the trend occurs, it may push all the way to the Upper or Lower levels of this VWAP. It may then proceed to move horizontally until the VWAP expands more and it may gain more movement; or it may correct back to the Basis Line. If it corrects back to the basis line, what may happen is it either uses the Basis Line as a Support and continues in its current direction, or it will change the VWAP anchor and start anew.
Tutorial:
If we zoom in on the most recent VWAP we can see how it expands. Expansion may be caused by time but generally it may be caused by price movement and volume. Exponential Price movement causes the VWAP to expand, even if there are corrections to it. However, please note Volume adds a large weighted factor to the calculation; hence Volume Weighted Average Price (VWAP).
If you refer to the white circle in the example above; you’ll be able to see that the VWAP expanded even while the price was correcting to the Basis line. This happens due to exponential movement which holds high volume. If you look at the volume below the white circle, you’ll notice it was very large; however even though there was exponential price movement after the white circle, since the volume was low, the VWAP didn’t expand much more than it already had.
There may be times where both Volume and Price movement isn’t significant enough to cause much of an expansion. During this time it may be considered to be in a state of consolidation. While looking at this example, you may also notice the color switch from red to green to red. The color of the VWAP is related to the movement of the Basis line (Orange middle line). When the current basis is > the basis of the previous bar the color of the VWAP is green, and when the current basis is < the basis of the previous bar, the color of the VWAP is red. The color may help you gauge the current directional movement the price is facing within the VWAP.
You may have noticed there are signals within this Indicator. These signals are composed of Green and Red Triangles which represent potential Bullish and Bearish momentum changes. The Momentum changes happen when the Signal Type:
The High/Low or Close (You pick in settings)
Crosses one of the locations within the VWAP.
Bullish Momentum change signals occur when :
Signal Type crosses OVER the Basis
Signal Type crosses OVER the lower level
Bearish Momentum change signals occur when:
Signal Type crosses UNDER the Basis
Signal Type Crosses UNDER the upper level
These signals may represent locations where momentum may occur in the direction of these signals. For these reasons there are also alerts available to be set up for them.
If you refer to the two circles within the example above, you may see that when the close goes above the basis line, how it mat represents bullish momentum. Likewise if it corrects back to the basis and the basis acts as a support, it may continue its bullish momentum back to the upper levels again. However, if you refer to the red circle, you’ll see if the basis fails to act as a support, it may then start to correct all the way to the lower levels, or depending on how expanded the VWAP is, it may just reset its anchor due to such drastic movement.
You also have the ability to disable Machine Learning by setting ‘Machine Learning Type’ to ‘None’. If this is done, it will go off whether you have it set to:
Bullish
Bearish
Neutral
For the type of VWAP you want to see. In this example above we have it set to ‘Bullish’. Non Machine Learning VWAP are still calculated using the same logic of if low < lowest low over length of X and if high > highest high over length of X.
Non Machine Learning VWAP’s change much quicker but may also allow the price to correct from one side to the other without changing VWAP Anchor. They may be useful for breaking up a trend into smaller pieces after momentum may have changed.
Above is an example of how the Non Machine Learning VWAP looks like when in Bearish. As you can see based on if it is Bullish or Bearish is how it favors the trend to be and may likewise dictate when it changes the Anchor.
When set to neutral however, the Anchor may change quite quickly. This results in a still useful VWAP to help dictate possible zones that the price may move within, but they’re also much tighter zones that may not expand the same way.
We will conclude this Tutorial here, hopefully this gives you some insight as to why and how Machine Learning VWAPs may be useful; as well as how to use them.
Settings:
VWAP:
VWAP Type: Type of VWAP. You can favor specific direction changes or let it be Neutral where there is even weight to both. Please note, these do not apply to the Machine Learning VWAP.
Source: VWAP Source. By default VWAP usually uses HLC3; however OHLC4 may help by providing more data.
Lookback Length: The Length of this VWAP when it comes to seeing if the current High > Highest of this length; or if the current Low is < Lowest of this length.
Standard VWAP Multiplier: This multiplier is applied only to the Standard VWMA. This is when 'Machine Learning Type' is set to 'None'.
Machine Learning:
Use Rational Quadratics: Rationalizing our source may be beneficial for usage within ML calculations.
Signal Type: Bullish and Bearish Signals are when the price crosses over/under the basis, as well as the Upper and Lower levels. These may act as indicators to where price movement may occur.
Machine Learning Type: Are we using a Simple ML Average, KNN Mean Average, KNN Exponential Average or None?
KNN Distance Type: We need to check if distance is within the KNN Min/Max distance, which distance checks are we using.
Machine Learning Length: How far back is our Machine Learning going to keep data for.
k-Nearest Neighbour (KNN) Length: How many k-Nearest Neighbours will we account for?
Fast ML Data Length: What is our Fast ML Length? This is used with our Slow Length to create our KNN Distance.
Slow ML Data Length: What is our Slow ML Length? This is used with our Fast Length to create our KNN Distance.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
YinYang Bar ForecastOverview:
YinYang Bar Forecast is a prediction indicator. It predicts the movement for High, Low, Open and Close for up to 13 bars into the future. We created this Indicator as we felt the TradingView community could benefit from a bar forecast as there wasn’t any currently available.
Our YinYang Bar Forecast is something we plan on continuously working on to better improve it, but at its current state it is still very useful and decently accurate. It features many calculations to derive what it thinks the future bars will hold. Let’s discuss some of the logic behind it:
Each bar has its High, Low, Open and Close calculated individually for highest accuracy. Within these calculations we first check which bar it is we are calculating and base our span back length that we are getting our data from based on the bar index we are generating. This helps us get a Moving Average for this bar index.
We take this MA and we apply our Custom Volume Filter calculation on it, which is essentially us dividing the current bars volume over the average volume in the last ‘Filtered Length’ (Setting) length. We take this decimal and multiply it on our MA and smooth it out with a VWMA.
We take the new Volume Filtered MA and apply a RSI Filter calculation on it. RSI Filter is where we take the difference between the high and low of this bar and we multiply it with an RSI calculation using our Volume Filtered MA. We take the result of that multiplication and either add or subtract it from the Volume Filtered MA based on if close > open. This makes our RSI Filtered MA.
Next, we do an EMA Strength Calculation which is where we check if close > ema(close, ‘EMA Averaged Length’) (Setting). Based on this condition we assign a multiplier that is applied to our RSI Filtered MA. We divide by how many bars we are predicting and add a bit to each predictive bar so that the further we go into the future the stronger the strength is.
Next we check RSI and RSI MA levels and apply multiplications based on its RSI levels and if it is greater than or less than the MA. Also it is affected by if the RSI is <= 30 and >= 70.
Finally we check the MFI and MFI MA levels and like RSI we apply multiplications based on its MFI levels and if it is greater than or less than the MA. It is also affected by if the MFI is <= 30 and >= 70.
Please note the way we calculate this may change in the future, this is just currently what we deemed works best for forecasting the future bars. Also note this script uses MA calculations out of scope for efficiency but there is potential for inconsistencies.
Innately it’s main use is the projection it provides. It only draws the bars for realtime bars and not historical ones, so the best way to backtest it is with TradingView’s Replay Tool.
Well, enough of the logic behind it, let's get to understanding how to use it:
Tutorial:
So unfortunately we aren’t able to plot legit bars/candles into the future so we’ve had to do a bit of a work around using lines and fills. As you can see here we have 4 Lines and 3 Zones:
Lines:
Green: Represents the High
Orange: Represents the Open
Teal: Represents the Close
Red: Represents the Low
Zones:
High Zone: This zone is from either Open or Close to the High and is ALWAYS filled with Green.
Open/Close Zone: This zone is from the Open to the Close and is filled with either Green or Red based on if it's greater than the previous bar (real or forecasted).
Low Zone: This zone is from either Open or Close to the Low and is ALWAYS filled with Red.
As you can see generally the Forecasted bars are generally within strong pivot locations and are a good estimation of what will likely go on. Please note, the WHOLE structure of the prediction can change based on the current bars movements and the way it affects the calculations.
Let's look 1 bar back from the current bar just so we can see what it used to Forecast:
As you can see it has changed quite a bit from the previous bar, but if you look close, we drew horizontal lines around where its projecting the next bar to be (our current realtime bar), if we go back to the live chart:
Its projections were pretty close for the high and low. Generally, right now at least, it does a much better job at predicting the high and low than it does the open and close, however we will do our best to fine tune that in future updates.
Remember, this indicator is not meant to base your trades on, but rather give you a Forecast towards the general direction of the next few bars. Somewhat like weather, the farther the bar (or day for weather), the harder it is to predict. For this reason we recommend you focusing on the first few bars as they are more accurate, but review the further ones as they may help show the trend and the way that pair will move.
We will conclude this tutorial here, hopefully this Predictive Indicator can be of some help and use to you. If you have any questions, comments, ideas or concerns please let us know.
Settings:
Forecast Length: How many bars should we predict into the Future? Max 13
Each Bar Length Multiplier: For each new Forecast bar, how many more bars are averaged? Min 2
VWMA Averaged Length: All Forecast bars are put into a VWMA, what length should we use?
EMA Averaged Length: All Forecast bars are put into a EMA, what length should we use?
Filtered Length: What length should we use for Filtered Volume and RSI?
EMA Strength Length: What length should we use for the EMA Strength
HAPPY TRADING!
Major and Minor Trend Indicator by Nikhil34a V 2.2Title: Major and Minor Trend Indicator by Nikhil34a V 2.2
Description:
The Major and Minor Trend Indicator v2.2 is a comprehensive technical analysis script designed for use with the TradingView platform. This powerful tool is developed in Pine Script version 5 and helps traders identify potential buying and selling opportunities in the stock market.
Features:
SMA Trend Analysis: The script calculates two Simple Moving Averages (SMAs) with user-defined lengths for major and minor trends. It displays these SMAs on the chart, allowing traders to visualize the prevailing trends easily.
Surge Detection: The indicator can detect buying and selling surges based on specific conditions, such as volume, RSI, MACD, and stochastic indicators. Both Buying and Selling surges are marked in black on the chart.
Option Buy Zone Detection: The script identifies the option buy zone based on SMA crossovers, RSI, and MACD values. The buy zone is categorized as "CE Zone" or "PE Zone" and displayed in the table along with the trigger time.
Two-Day High and Low Range: The script calculates the highest high and lowest low of the previous two trading days and plots them on the chart. The area between these points is shaded in semi-transparent green and red colors.
Crossover Analysis: The script analyzes moving average crossovers on multiple timeframes (2-minute, 3-minute, and 5-minute) and displays buy and sell signals accordingly.
Trend Identification: The script identifies the major and minor trends as either bullish or bearish, providing valuable insights into the overall market sentiment.
Usage:
Customize Major and Minor SMA Periods: Adjust the lengths of major and minor SMAs through input parameters to suit your trading preferences.
Enable/Disable Moving Averages: Choose which SMAs to display on the chart by toggling the "showXMA" input options.
Set Surge and Option Buy Zone Thresholds: Modify the surgeThreshold, volumeThreshold, RSIThreshold, and StochThreshold inputs to refine the surge and buy zone detection.
Analyze Crossover Signals: Monitor the crossover signals in the table, categorized by timeframes (2-minute, 3-minute, and 5-minute).
Explore Market Bias and Distance to 2-Day High/Low: The table provides information on market bias, current price movement relative to the previous two-day high and low, and the option buy zone status.
Additional Use Cases:
Surge Indicator:
The script includes a Surge Indicator that detects sudden buying or selling surges in the market. When a buying surge is identified, the "BSurge" label will appear below the corresponding candle with black text on a white background. Similarly, a selling surge will display the "SSurge" label in white text on a black background. These indicators help traders quickly spot strong buying or selling activities that may influence their trading decisions. These surges can be used to identify sudden premium dump zones.
Option Buy Zone:
The Option Buy Zone is an essential feature that identifies potential zones for buying call options (CE Zone) or put options (PE Zone) based on specific technical conditions. The indicator evaluates SMA crossovers, RSI, and MACD values to determine the current market sentiment. When the option buy zone is triggered, the script will display the respective zone ("CE Zone" or "PE Zone") in the table, highlighted with a white background. Additionally, the time when the buy zone was triggered will be shown under the "Option Buy Zone Trigger Time" column.
Price Movement Relative to 2-Day High/Low:
The script calculates the highest high and lowest low of the previous two trading days (high2DaysAgo and low2DaysAgo) and plots these points on the chart. The area between these two points is shaded in semi-transparent green and red colors. The green region indicates the price range between the highpricetoconsider (highest high of the previous two days) and the lower value between highPreviousDay and high2DaysAgo. Similarly, the red region represents the price range between the lowpricetoconsider (lowest low of the previous two days) and the higher value between lowPreviousDay and low2DaysAgo.
Entry Time and Current Zone:
The script identifies potential entry times for trades within the option buy zone. When a valid buy zone trigger occurs, the script calculates the entryTime by adding the durationInMinutes (user-defined) to the startTime. The entryTime will be displayed in the "Entry Time" column of the table. Depending on the comparison between optionbuyzonetriggertime and entryTime, the background color of the entry time will change. If optionbuyzonetriggertime is greater than entryTime, the background color will be yellow, indicating that a new trigger has occurred before the specified duration. Otherwise, the background color will be green, suggesting that the entry time is still within the defined duration.
Current Zone Indicator:
The script further categorizes the current zone as either "CE Zone" (call option zone) or "PE Zone" (put option zone). When the market is trending upwards and the minor SMA is above the major SMA, the currentZone will be set to "CE Zone." Conversely, when the market is trending downwards and the minor SMA is below the major SMA, the currentZone will be "PE Zone." This information is displayed in the "Current Zone" column of the table.
These additional use cases empower traders with valuable insights into market trends, buying and selling surges, option buy zones, and potential entry times. Traders can combine this information with their analysis and risk management strategies to make informed and confident trading decisions.
Note:
The script is optimized for identifying trends and potential trade opportunities. It is crucial to perform additional analysis and risk management before executing any trades based on the provided signals.
Happy Trading!
Open Price Regression Modelnput Variables: The user can adjust the lookbackPeriod and m (multiplier) inputs. The lookbackPeriod specifies the number of previous bars used for regression calculations, and m is used to calculate the confidence interval width.
Calculate Regression Model: The code extracts open, high, low, and close prices for the current candle. It then performs regression calculations for high, low, and close prices based on the open prices.
Calculate Predicted Prices: Using the regression coefficients and intercepts, the code calculates predicted high, low, and close prices based on the current open price.
Calculate Confidence Interval: The code computes the standard errors of the regression for high, low, and close prices and multiplies them by the specified confidence level multiplier (m) to determine the width of the confidence intervals.
Plotting: The predicted high, low, and close prices are plotted with different colors. Additionally, confidence intervals are plotted around the predicted prices using lines.
Implications and Trading Advantage:
The Open Price Regression Model aims to predict future high, low, and close prices based on the current open price. Traders can use the predicted values and confidence intervals as potential price targets and volatility measures. Traders can consider taking long or short positions based on whether the current open price is below or above the predicted prices. Can be used on a daily time frame to forecast the day's high and low and use this levels are horizontal price levels on lower timeframes.
HILOCLOP AnalysisThe "HILOCLOP Analysis" indicator is designed to analyze price data based on different conditions and provide insights into market trends and patterns. Let's break down its features and understand its potential usefulness in trading:
Sample Length: The indicator allows the user to specify the sample length, which determines the number of bars or periods considered for the analysis. This parameter can be adjusted to capture short-term or long-term trends and patterns in the market.
Raw Up/Down Analysis: The indicator calculates the number of occurrences where the current price values (high, low, open, close) are higher or lower than their previous values. It provides separate counts for each price component. By visualizing these counts on the chart, traders can identify periods of upward or downward movement in the price data.
HICLOP Analysis: The indicator offers a color scheme option called "HICLOP," which determines the color of the plotted results. If the HICLOP analysis is enabled, the plots representing raw up/down counts will have different colors based on whether the current count is higher or lower than the previous count. This color coding helps traders quickly identify changes in price trends.
Unchecking this Box will Show the general trend.
Raw HICLOP Color Scheme
Trend Color Scheme
Analysis Up vs. Down: The indicator provides an option to analyze instances where all four price components (high, low, open, close) are higher or lower than their respective previous values. This analysis helps traders identify periods of strong upward or downward movement in the market.
Analysis High vs. Low: The indicator compares the number of occurrences where the current high is higher than the previous high and the current low is higher than the previous low. It provides insights into whether the market is experiencing higher highs or higher lows, which can help traders determine the strength of an upward or downward trend.
Analysis Open vs. Close: The indicator compares the number of occurrences where the current close is higher than the previous close and the current open is higher than the previous open. This analysis helps traders assess the relationship between opening and closing prices, providing insights into the strength of buying or selling pressure in the market.
The usefulness of the "HILOCLOP Analysis" indicator in trading depends on the specific trading strategy and the trader's preferences. Here are a few potential use cases:
Trend Identification: By analyzing the raw up/down counts and the HICLOP color scheme, traders can identify trends and changes in price momentum. Increasing raw up counts and corresponding color changes to positive values may indicate an upward trend, while increasing raw down counts and negative color changes may suggest a downward trend.
Confirmation of Breakouts: Traders often look for confirmation of breakouts from key levels or chart patterns. The "Analysis Up V Dn" feature can help identify instances where all four price components simultaneously confirm a breakout, indicating a potentially significant move in the market.
Trend Reversals: The "Analysis High V Low" and "Analysis Open V Close" features can provide insights into potential trend reversals. For example, if there are more higher highs than higher lows, it may indicate a weakening trend, potentially signaling a reversal or a correction.
MACD Normalized [ChartPrime]Overview of MACD Normalized Indicator
The MACD Normalized indicator, serves as an asset for traders seeking to harness the power of the moving average convergence divergence (MACD) combined with the advantages of the stochastic oscillator. This novel indicator introduces a normalized MACD, offering a potentially enhanced flexibility and adaptability to numerous market conditions and trading techniques.
This indicator stands out by normalizing the MACD to its average high and average low, also factoring in the deviation of the high-low position from the mean. This approach incorporates the high and low in the calculations, providing the benefits of stochastic without its common drawbacks, such as clipping problems. As a result, the indicator becomes exceptionally versatile and suitable for various trading strategies, including both faster and slower settings.
The MACD Normalized Indicator boasts a variety of options and settings. The features include:
Enable Ribbon: Toggle the display of the ribbon accompanying the MACD Normalized, as desired.
Fast Length: Determine the movement speed of the fast line to receive advance notice of potential market opportunities.
Slow Length: Control the movement pace of the slow line for smoother signals and a comprehensive outlook on market trends.
Average Length: Specify the length used to calculate the high and low averages, providing greater control over the indicator's granularity.
Upper Deviation: Establish the extent to which the high and low values deviate from the mean, ensuring adaptability to diverse market situations.
Inner Band (Middle Deviation): Adjust the balance between the high and low deviations to create an inner band signal, giving traders a secondary level of market analysis and decision-making support.
Enable Candle Color: Enable the coloring of candles based on the MACD Normalized value for effortless visualization of trading potential.
Use Cases for the MACD Normalized Indicator
In addition to analyzing market trends and identifying potential trading opportunities, ChartPrime's MACD Normalized Indicator offers a range of applications for traders. These use cases encompass distinct trading scenarios and strategies:
Overbought and Oversold Regions
One of the key applications of the MACD Normalized Indicator is identifying overbought and oversold regions. Overbought refers to a situation where an asset's price has risen significantly and is expected to face a downturn, while oversold indicates a price drop that may subsequently lead to a reversal.
By adjusting the indicator's parameters, such as the upper and inner deviation levels, traders can set precise boundaries to determine overbought and oversold areas. When the MACD moves into the upper region, it may signal that the asset is overbought and due for a price correction. Conversely, if the MACD enters the lower region, it possibly indicates an oversold condition with the potential for a price rebound.
Signal Line Crossovers
The MACD Normalized Indicator displays two lines: the fast line and the slow line (inner band). A common trading strategy involves observing the intersection of these two lines, known as a crossover. When the fast line crosses above the slow line, it may signify a bullish trend or a potential buying opportunity. Conversely, a crossover with the fast line moving below the slow line typically indicates a bearish trend or a selling opportunity.
Divergence and Convergence
Divergence occurs when the price movement of an asset does not align with the corresponding MACD values. If the price establishes a new high while the MACD fails to do the same, a bearish divergence emerges, suggesting a potential downtrend. Similarly, a bullish divergence takes place when the price forms a new low but the MACD does not follow suit, hinting at an upcoming uptrend.
Convergence, on the other hand, is represented by the MACD lines moving closer together. This movement signifies a potential change in the trend, providing traders with a timely opportunity to enter or exit the market.
DB Support Resistance LevelsDB Support Resistance Levels
This indicator plots historic lines for high, low and close prices. The settings allow up to 3 periods to be configured based on the current timeframe. Users can toggle the display of high, low or close values for each period along with customizing the period line color. The indicator does not use the security function. Instead, it's designed to use a period multiplier. Each period allows the user to configure a lookback length and multiplier.
For Example on Weekly
A period lookback of 12 with a multiplier value of 12 on weekly would produce historic high, low and close lines for the last 12 weeks.
A period lookback of 10 with a multiplier value of 4 on weekly would produce historic high, low and close lines for the last 4, 4-week months.
A period lookback of 8 with a multiplier value of 13 on weekly would produce historic high, low and close lines for the last 8, 13-week quarters.
Why not use security with higher timeframe?
The goal was to have the lines start at the precise high, low and close points for the current chart timeframe to allow the user to visually trace the start of the line.
What else does this do?
This indicator also plots the pivot points using TradingView's built-in "pivot_point_levels" feature.
How should I use this indicator?
Traders may use this indicator to gain a visual reference of support and resistance levels from higher periods of time. You can then compare these historic levels against the pivot point levels. In most cases, historic high, low and close levels act as support and resistance levels which can be helpful for judging future market pivot points.
Additional Notes
This indicator does increase the max total lines allowed which may impact performance depending on device specs. No alerts or signals for now. Perhaps coming soon...
Volatility Range Breakout Strategy [wbburgin]The "Volatility Range Breakout Strategy" uses deviations of high-low volatility to determine bullish and bearish breakouts.
HOW IT WORKS
The volatility function uses the high-low range of a lookback period, divided by the average of that range, to determine the likelihood that price will break in a specific direction.
High and low ranges are determined by the relative volatility compared to the current closing price. The high range, for example, is the (volatility * close) added to the close, the low range is this value subtracted by the close.
A volatility-weighted moving average is taken of these high and low ranges to form high and low bands.
Finally, breakouts are identified once the price closes above or below these bands. An upwards breakout (bullish) occurs when the price breaks above the upper band, while a downwards breakout (bearish) occurs when the price breaks below the lower band. Positions can be closed either by when the price falls out of its current band ("Range Crossover" in settings under 'Exit Type') or when the price falls below or above the volatility MA (default because this allows us to catch trends for longer).
INPUTS/SETTINGS
The AVERAGE LENGTH is the period for the volatility MA and the weighted volatility bands.
The VOLATILITY LENGTH is how far the lookback should be for highs/lows for the volatility calculation.
Enjoy! Let me know if you have any questions.
