Premium MTF Layered RSI - Bitcoin Bot [wbburgin]This the premium version of my MTF Layered RSI strategy, which improves significantly on the original strategy (publicly available on my profile). Improvements are below. This strategy will also appear as an overlay on your chart. It is completely non-repainting.
The MTF Layered RSI strategy uses the current timeframe and two configurable higher timeframes to enter a long position when Bitcoin is oversold on all three timeframes, and exit the long position when Bitcoin is overbought on the current timeframe. This hedges against situations where the RSI on higher timeframes never reaches the overbought level and we are left "holding the bag" so to speak with the classic "enter long at oversold and enter short at overbought" strategy.
IMPORTANT: This strategy does not work on ranges. It will work on all timeframes and assets, but does not work on ranges (Renko blocks and some other advanced types of charts).
********** My Background
I am an investor, trader, and entrepreneur with 10 years of cryptocurrency and equity trading experience and founder of two fintech startups. I am a graduate of a prestigious university in the United States and carry broad and inclusive interests in mathematical finance, computer science, machine learning / artificial intelligence, as well as other fields.
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Improvements over the original MTF RSI strategy include:
Filters for Uptrends and Downtrends → The Premium RSI strategy will adjust its buy and sell thresholds depending on whether the instrument is trending. This means that, in uptrends, the Premium strategy will buy more frequently, bringing in potentially greater profit, and in downtrends, the strategy will stop buying altogether. These filters and dynamic buy/sell thresholds have made this strategy more profitable in my backtesting across random timeframes, but I cannot guarantee that the strategy will be profitable for you on the default settings. To that end, I have enabled a number of different configurations that you can change in the settings of the strategy.
Stop Loss / Take Profit Calculation Per Tick → Stop loss and take profit are now both enabled in the script and each has their own alerts. You can specify what type of stop loss or take profit you want: percentage or ATR. If you have alerts configured, you will be alerted mid-bar, instead of at close. This helps prevent loss from abrupt falls in price between closing price and next bar open.
Customizable Alert Messages In-Strategy → In the settings, there will be text boxes where you can create your own alerts. All you will need to do is create an alert in the alert panel on Tradingview and leave the message box blank - if you fill out the alert boxes in the settings, these will automatically populate into your alerts. There are in total eight different customizable alerts messages: Entry, Exit, Stop loss, and Take profit alerts for both Long and Short sides. If you disable stop loss and/or take profit, these alerts will also be disabled. Similarly, if you disable shorts, all short alerts will be disabled.
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Display
Configuring Stop Loss or Take Profit will make their corresponding displays appear.
Separately from the trading boxes, background colors (green, red) signify extended uptrends and downtrends, respectively.
Configuring Alerts
In TradingView desktop, go to the ‘Alerts’ tab on the right panel. Click the “+” button to create a new alert. Select this strategy for the condition and one of the two options that includes alert() function calls. Name the alert what you wish and clear the default message, because your text in the settings will replace this message.
Now that the alert is configured, you can go to the settings of the strategy and fill in your chosen text for the specific alert condition. You will need to check “Long and Short” in the “Trade Direction” setting in order for any Short Alerts to become active. Similarly, you will need to check “Enable Stop Loss” for stop loss alerts to become active and “Enable Take Profit” for take profit alerts to become active.
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Disclaimer
Copyright by wbburgin.
The information contained in my Scripts/Indicators/Algorithms 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.
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Notes on the Strategy Performance below: This is 3% of equity per trade, with a pyramiding number of 3. I did not include fees because Binance US on Bitcoin/USD does not charge fees on the instrument; however, I heavily encourage you to include fees in your backtesting if you use a different brokerage. To mitigate fees, this strategy is designed with a high average %/trade. If your current fees are greater than the strategy's average %/trade, I encourage you to choose a higher RSI period, such as 14 or 28, which will result in less trades but potentially a higher %/trade.
Cerca negli script per "renko"
[Trendycator] Trendycator Trend Following IndicatorThis script proposes a simple and intuitive trend following indicator, better usage on those assets which are sufficiently liquid and don't go through random spikes.
Since it is a trend-following system, it works well during trends only and his intent is to find a primary trend and ride it for as long as possible.
We know that the biggest problem is how to understand if asset is in trend or not: for this purpose, the intuitive colors explained hereafter help Traders to understand when asset is in non trend.
It will never enter on the minimum and will never exit on the maximum but will always try to identify the central part of the trend, maintaining the position until the forces supporting the rise of the stock fail.
Usage details
Color interpretation
Green color mean that asset is in a UP Trend.
Red color mean that asset is in a Down Trend.
Gray color mean that indicator is not able to find any clear trend.
Trendycator use stochastic oscillator, which establish the trend and his strength.
As additional filter as noise removal the stochastic oscillator is smoothened using simple moving average.
Trendycator use as well price swing recognition which identify significant high and significant low breakouts.
When stochastic find trend with strength and significant breakout change color: green for up trend and red for down trend.
This mix of trend-following indicator and breakout system is made to avoid, as much as possible, false signal generated from side movement.
Settings
Trendycator usually doesn’t need to set anything.
This because we believe that the user have to searching for the charts where it works well and never "overfitting" the system on a chart.
Overfitting never work as a long time and in the first step for loosing money.
In Tradingview we decide to let the possibilities to set two parameters: "Period_UP" and "Period_DN".
The reason is because this can be adjusted slightly for testing in intraday, but we recommend to manipulate as less as possible.
Period UP/DN meaning: Period_UP are the number of bars considered for swing high detection and Period_DN is the number of bar that Trendycator use for swing low detection.
Important usage note
Trendycator was born and tested in weekly timeframe and works in daily as well. Intraday charts, normally have high volatility that is the opposite of trend; weekly, or daily bars reduce the noise.
Trendycator is tested, and used, in Etf and stocks.
Trendycator is tested, and used, for long operation only.
Trendycator is not tested in different timeframe from what explained above, or chart type different from bars (eg. Renko or Heikin Ashi).
Trendycator is not tested in instrument different from what listed above: like future or Forex.
Trendycator is not tested for short operation. Normally short have very strong movement in less time that is different from trend following concept.
Entry/Exit recommended filters
Investor and traders are free to use and interpretate Trendycator as they feel more confortable but, we recommend to apply some filters on entry and exit.
As you can see in example, we use a trigger for enter in position (not plotted by this indicator).
The high of first green bar is the trigger level for entry: the long position will be in Buy Stop above this level.
The low of first red bar is the trigger level for exit: the long position will be exit in Stop after this level.
Use this trigger criteria is useful to avoid, once more, the false signal.
Conclusion
Trendycator do not provide any guarantees regarding your ability to obtain results or earn money with our ideas, information, tools or strategies.
Nothing on our content makes any promise or guarantee of future results or earnings.
You alone are responsible for your decisions, actions and results in life, and using our code you agree that you will not attempt to hold us responsible for your decisions, actions or results, at any time, under any circumstances.
Deming Linear Regression [wbburgin]Deming regression is a type of linear regression used to model the relationship between two variables when there is variability in both variables. Deming regression provides a solution by simultaneously accounting for the variability in both the independent and dependent variables, resulting in a more accurate estimation of the underlying relationship. In the hard-science fields, where measurements are critically important to judging the conclusions drawn from data, Deming regression can be used to account for measurement error.
Tradingview's default linear regression indicator (the ta.linreg() function) uses least squares linear regression, which is similar but different than Deming regression. In least squares regression, the regression function minimizes the sum of the squared vertical distances between the data points and the fitted line. This method assumes that the errors or variability are only present in the y-values (dependent variable), and that the x-values (independent variable) are measured without error.
In time series data used in trading, Deming regression can be more accurate than least squares regression because the ratio of the variances of the x and y variables is large. X is the bar index, which is an incrementally-increasing function that has little variance, while Y is the price data, which has extremely high variance when compared to the bar index. In such situations, least squares regression can be heavily influenced by outliers or extreme points in the data, whereas Deming regression is more resistant to such influence.
Additionally, if your x-axis uses variable widths - such as renko blocks or other types of non-linear widths - Deming regression might be more effective than least-squares linear regression because it accounts for the variability in your x-values as well. Additionally, if you are creating a machine-learning model that uses linear regression to filter or extrapolate data, this regression method may be more accurate than least squares.
In contrast to least squares regression, Deming regression takes into account the variability or errors in both the x- and y-values. It minimizes the sum of the squared perpendicular distances between the data points and the fitted line, accounting for both the x- and y-variability. This makes Deming regression more robust in both variables than least squares regression.
Fair Value Gap - FVG - HistogramThis indicator uses a histogram to represent "fair value gaps" ("FVG"). FVG is a popular pattern among modern traders.
This document describes the purpose of the script and discusses the conceptual meaning of "fair value," as well as the connotations attached to it.
█🚀 Based on the previous script - improved clarity
This indicator is a modified version of the "Three Bar Gap (Simple Price Action - with 1 line plot)" indicator, which is also available as open source and can be applied to a chart as a complementary tool along with this indicator.
Differences:
The previous version introduced a "Threshold filter" to reduce the number of lines plotted on charts. This filter introduced two additional parameters for users to consider (ATR length and multiplier). These parameters made the indicator more complicated than intended.
To address this issue of having too many lines in the former version, I proposed a spin-off on this version: It's to consider plotting the magnitude of the FVGs on a histogram instead of using lines on a price chart. In my opinion, a histogram is more suitable for decision-making because it lays out data points side-by-side as bins, which makes comparisons much clearer.
Minor FVGs are expected to have smaller bins compared to their neighboring bins, and in extreme cases, the bins will become seemingly invisible due to the auto-adjusted scale of the y-axis. Therefore, there is no need to filter out any data, and all FVGs can be included in this spin-off version.
█🚀 Candlestick patterns - revisited
This script calculates the displacement of highs and lows over three consecutive bars.
A) Down move: When the high of the recent-confirmed bar is lower than the low of the previous-previous candle.
B) Up move: When the low of the recently-confirmed bar is higher than the high of the previous-previous candle.
█🚀 Parameters
Core Functionality
The purpose of this indicator is to generate bins representing the magnitude of FVGs in the form of a histogram to facilitate the visualization of price movements.
The act of "finding FVGs" does not require any inputs, but users can still customize the colors of the bins to indicate the direction of movement.
Auxiliary functionality: “Key level finder” by searching for large FVGs
The following inputs are optional, in fact, the entire feature can be toggled on/off.
In this example, setting the lookback at 20 means the script will generate a signal if the current histogram bin is taller than all previous bins over the past 20 bars.
█🚀 Applications
Tall histogram bins = key levels .
Traders should observe key levels for entry or exit opportunities.
It is important to note that this indicator was designed for standard time-based charts.
On a separate note, FVGs will not appear in Renko charts with fixed-size bricks. This is because the bricks align with their neighboring bricks. When the bricks are fixed, any displacement between highs and lows within less than or equal to three bars will be zero.
The concept of a "gap" is used to illustrate that price follows a jump-diffusion process, and time intervals can be assigned arbitrarily on the x-axis without needing fixed intervals. This idea was briefly discussed in the previous script's write-up.
█🚀 FAQ: Does it repaint?
No. And please continue reading.
Bins are plotted with a one-bar delay. It only takes one bar for the FVG to become confirmed. Lag is beneficial because it clarifies the need for traders to wait for the bar to close and for the signals to become confirmed before entering or exiting a trade. Experienced traders know that prices tend to retrace, so there is no need to chase. An added bar of delay proves to be useful.
█🚀 Opinion: The term “fair value” can be misleading
Those who come from traditional finance may find the term "fair value gap" somewhat insulting. When encountering the phrase, it can feel like a group of aliens from "Planet Technical Analysis" have intrusively landed on your planet and assertively redefined what "fair value" is supposed to mean.
So, what does "fair value" mean in the realm of technical analysis?
In the world of corporate finance, "fair value" is a subjective estimate of what buyers and sellers are hypothetically willing to pay or accept. Buy-side and sell-side analysts use their own methodologies to determine what constitutes "fair value". These approaches may be based on income, asset, or market comparables. Regardless of the approach used, subjectivity is inherent, and results depend on fundamental data provided by the numbers on financial statements. Valuations are unrelated to candlestick patterns .
When dealing with financial statements, finance professionals who are non-market-participants, such as those working in group reporting practices for reporting issuers, or those hired as external auditors, as required by regulators, may also question what constitutes "fair value". The main concerns always revolve around the assumptions used in valuation models; these are inputs that ultimately require management's judgment, and if not critically questioned, valuations as reported in the statements could end up becoming materially bogus. Both IFRS and U.S. GAAP define "fair value" with the same intended meaning in terms of definitions. We will not delve into the details here. The main point is that "fair value" from a financial reporting perspective has nothing to do with candlesticks .
If a price is already quoted in an actively traded market, you can refer to it to obtain what is known as "mark-to-market". This involves simply referring to the bid or ask price on the reporting date, and you're done - there's no need to read candlesticks !
"Fair value" is a neutral term used by finance professionals in all domains. It is not meant to imply that something is actually "fair." Paying the "fair value" for an asset can still result in overpaying or underpaying for what the asset is worth, depending on different model assumptions. The point is, candlesticks are irrelevant to the analysis of what is considered "fair value" in the realm of traditional finance.
That being said, there is no definitive answer as to why people refer to this pattern as a "fair value gap". It's like one of those oddball interview questions asking you to explain why tennis balls are fuzzy. Whatever answer you give, it's important to note that the subject itself is trivial.
Emphasis of matter on why "fair value" can be misleading
The previous paragraphs were not intended to attack ideas from the realm of technical analysis, nor to assert the true meaning, or lack of meaning, of the term "fair value". Words are constantly evolving. If the term "fair value gap" becomes more widely used to describe the displacement of highs and lows over three bars, then let's call it a "fair value gap".
To be clear, I argue that the term "fair value gap" should not be given a positive connotation. Traders should interpret the word "fair" neutrally. Although these signals occur frequently, if you trade every time there is a signal, you will overtrade and incur astronomical transaction costs over the long run, which can lead to losses.
█🚀 Conclusion:
In the end, what matters is how you apply FVG to trading. As mentioned in the "Applications" section above, traders should look for large FVGs - indicated by tall histogram bins - to identify key levels.
Weis V5 zigzag jayySomehow, I deleted version 5 of the zigzag script. Same name. I have added some older notes describing how the Weis Wave works.
I have also changed the date restriction that stopped the script from working after Dec 31, 2022.
What you see here is the Weis zigzag wave plotted directly on the price chart. This script is the companion to the Weis cumulative wave volume script.
What is a Weis wave? David Weis has been recognized as a Wyckoff method analyst he has written two books one of which, Trades About to Happen, describes the evolution of the now-popular Weis wave. The method employed by Weis is to identify waves of price action and to compare the strength of the waves on characteristics of wave strength. Chief among the characteristics of strength is the cumulative volume of the wave. There are other markers that Weis uses as well for example how the actual price difference between the start of the Weis wave from start to finish. Weis also uses time, particularly when using a Renko chart
David Weis did a futures io video which is a popular source of information about his method. (Search David Weis and futures.io. I strongly suggest you also read “Trades About to Happen” by David Weis.
This will get you up and running more quickly when studying charts. However, you should choose the Traditional method to be true to David Weis technique as described in his book "Trades About to Happen" and in the Futures IO Webcast featuring David Weis
. The Weis pip zigzag wave shows how far in terms of bar close price a Weis wave has traveled through the duration of a Weis wave. The Weis zigzag wave is used in combination with the Weis cumulative volume wave. The two waves should be set to the same "wave size".
To use this script, you must set the wave size: Using the traditional Weis method simply enter the desired wave size in the box "How should wave size be calculated", in this example I am using a traditional wave size of .25. Each wave for each security and each timeframe requires its own wave size. Although not the traditional method devised by David Weis a more automatic way to set wave size would be to use Average True Range (ATR). Using ATR is not the true Weis method but it does give you similar waves and, importantly, without the hassle described above. Once the Weis wave size is set then the zigzag wave will be shown with volume. Because Weis used the closing price of a wave to define waves a line Bar highs and bar lows are not captured by the Weis Wave. The default script setting is now cumulative volume waves using an ATR of 7 and a multiplication factor of .5.
To display volume in a way that does not crowd out neighbouring volumes Weis displayed volume as a maximum of 3 digits (usually). Consider two Weis Wave volumes 176,895,570 and 2,654,763,889. To display wave volume as three digits it is necessary to take a number such as 176,895,570 and truncate it. 176,895,570 can be represented as 177 X 10 to the power of 6. The number displayed must also be relative to other numbers in the field. If the highest volume on the page is: 2,654,763,889 and with only three numbers available to display the result the value shown must be 265 (265 X 10 to the power of 7). Since 176,895,570 is an order of magnitude smaller than 2,654,763,889 therefore 175,895,570 must be shown as 18 instead of 177. In this way, the relative magnitudes of the two volumes can be understood. All numbers in the field of view must be truncated by the same order of magnitude to make the relative volumes understandable. The script attempts to calculate the order of magnitude value automatically. If you see a red number in the field of view it means the script has failed to do the calculation automatically and you should use the manual method – use the dialogue box “Calculate truncated wave value automatically or manually”. Scroll down from the automatic method and select manual. Once "manual" is selected the values displayed become the power values or multipliers for each wave.
Using the manual method you will select a “Multiplier” in the next dialogue box. Scan the field and select the largest value in the field of view (visible chart) is the multiplier of interest. If you select a lower number than the maximum value will see at least one red “up”. If you are too high you will see at least one red “down”. Scroll in the direction recommended or the values on the screen will be totally incorrect. With volume truncated to the highest order values, the eye can quickly get a feel for relative volumes. It also reduces the crowding and overlapping of values on the screen. You can opt to show the full volume to help get a sense of the magnitude of the true volumes.
How does the script determine if a Weis wave is continuing to grow or not?
The script evaluates the closing price of each new bar relative to the "Weis wave size". Suppose the current bar closes at a new low close, within the current down wave, at $30.00. If the Weis wave size is $0.10 then the algorithm will remember the $30.00 close and compare it to the close of the next bar. If the bar close price does not close equal to or lower than $30.00 or close equal to or higher than $30.10 then the wave is still a down wave with a current low of $30.00. This is true even if the bar low is less than $30.00 or the bar high is greater than 30.10 – only the bar’s closing price matters. If a bar's closing price climbs back up to a close of $30.11 then because the closing price has moved more than $0.10 (the Weis wave size) then that is a wave reversal with a new up-trending wave. In the above example if there was currently a downward trending wave and the bar closes were as follows $30.00, $30.09, $30.01, $30.05, $30.10 The wave direction would continue to stay downward trending until the close of $30.10 was achieved. As such $30.00 would be the low and the following closes $30.09, $30.01, $30.05 would be allocated to the new upward-trending wave. If however There was a series of bar closes like this $30.00, $30.09, $30.01, $30.05, $29.99 since none of the closes was equal to above the 10-cent reversal target of $30.10 but instead, a new Weis wave low was achieved ($29.99). As such the closes of $30.09, $30.01, $30.05 would all be attributed to the continued down-trending wave with a current low of $29.99, even though the closing price for the interim bars was above $30.00. Now that the Weis Wave low is now 429.99 then, in order to reverse this continued downtrend price will need to close at or above $30.09 on subsequent bar closes assuming now new low bar close is achieved. With large wave sizes, wave direction can be in limbo for many bars before a close either renews wave direction or reverses it and confirms wave direction as either a reversal or a continuation. On the zig-zag, a wave line and its volume will not be "printed" until a wave reversal is confirmed.
The wave attribution is similar when using other methods to define wave size. If ATR is used for wave size instead of a traditional wave constant size such as $0.10 or $2 or 2000 pips or ... then the wave size is calculated based on current ATR instead of the Weis wave constant (Traditional selected value).
I have the option to display pseudo-Ord volume. In truth, Ord used more traditional zig-zag pivots of bar highs and lows. Waves using closes as pivots can have some significant differences. This difference can be lessened by using smaller time frames and larger wave sizes.
There are other options such to display the delta price or pip size of a Weis Wave, the number of bars in a wave, and a few other options.
Strategy Myth-Busting #5 - POKI+GTREND+ADX - [MYN]This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously.
Our fifth one we are automating is one of the strategies from "The Best 3 Buy And Sell Indicators on Tradingview + Confirmation Indicators ( The Golden Ones ))" from "Online Trading Signals (Scalping Channel)". No formal backtesting was done by them and resuructo messaged me asking if we could validate their claims.
Originally, we mimic verbatim the settings Online Trading Signals was using however weren't getting promising results. So before we stopped there we thought we might want to see if this could be improved on. So we adjusted the Renko Assignment modifier from ATR to Traditional and adjusted the value to be higher from 30 to 47. We also decided to try adding another signal confirmation to eliminate some of the ranged market conditions so we choose our favorite, ADX . Also, given we are using this on a higher time-frame we adjusted the G-Channel Trend detection source from close to OHLC4 to get better average price action indication and more accurate trend direction.
This strategy uses a combination of 2 open-source public indicators:
poki buy and sell Take profit and stop loss by RafaelZioni
G-Channel Trend Detection by jaggedsoft
Trading Rules
15m - 4h timeframe. We saw best results at the recommended 1 hour timeframe.
Long Entry:
When POKI triggers a buy signal
When G-Channel Trend Detection is in an upward trend (Green)
ADX Is above 25
Short Entry:
When POKI triggers a sell signal
When G-Channel Trend Detection is in an downward trend (red)
ADX Is above 25
If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.
Cold MACD by CryptomPlots the MACD directly on Chart. This helps you better understand the MACD indicator and filter the false signals, It is recommended to use it with Macd oscillator
15M Chart:
3D Chart:
4H Chart:
30M Chart with Renko candle:
snapshot
End-Pointed SSA of Normalized Price Corridor [Loxx]End-Pointed SSA of Normalized Price Corridor is an end-pointed SSA of normalized input price to output a smoothed normalized oscillator of price. Corridors are added in attempt to decipher larger trend direction of price. These corridor trend lines are based on highs and lows of price. Due to the SSA algorithm, this indicator takes some time load on the chat, so be patient. You can adjust the lag parameter downward to speed up the indicator load time but this will also degrade the signal. There are many different ways to use this indicator. It is also Renko chart friendly.
An example of emerging trends (these do not repaint)
What is Singular Spectrum Analysis ( SSA )?
Singular spectrum analysis ( SSA ) is a technique of time series analysis and forecasting. It combines elements of classical time series analysis, multivariate statistics, multivariate geometry, dynamical systems and signal processing. SSA aims at decomposing the original series into a sum of a small number of interpretable components such as a slowly varying trend, oscillatory components and a ‘structureless’ noise. It is based on the singular value decomposition ( SVD ) of a specific matrix constructed upon the time series. Neither a parametric model nor stationarity-type conditions have to be assumed for the time series. This makes SSA a model-free method and hence enables SSA to have a very wide range of applicability.
For our purposes here, we are only concerned with the "Caterpillar" SSA . This methodology was developed in the former Soviet Union independently (the ‘iron curtain effect’) of the mainstream SSA . The main difference between the main-stream SSA and the "Caterpillar" SSA is not in the algorithmic details but rather in the assumptions and in the emphasis in the study of SSA properties. To apply the mainstream SSA , one often needs to assume some kind of stationarity of the time series and think in terms of the "signal plus noise" model (where the noise is often assumed to be ‘red’). In the "Caterpillar" SSA , the main methodological stress is on separability (of one component of the series from another one) and neither the assumption of stationarity nor the model in the form "signal plus noise" are required.
"Caterpillar" SSA
The basic "Caterpillar" SSA algorithm for analyzing one-dimensional time series consists of:
Transformation of the one-dimensional time series to the trajectory matrix by means of a delay procedure (this gives the name to the whole technique);
Singular Value Decomposition of the trajectory matrix;
Reconstruction of the original time series based on a number of selected eigenvectors.
This decomposition initializes forecasting procedures for both the original time series and its components. The method can be naturally extended to multidimensional time series and to image processing.
The method is a powerful and useful tool of time series analysis in meteorology, hydrology, geophysics, climatology and, according to our experience, in economics, biology, physics, medicine and other sciences; that is, where short and long, one-dimensional and multidimensional, stationary and non-stationary, almost deterministic and noisy time series are to be analyzed.
Included
Bar coloring
Signals
Alerts
Loxx's Expanded Source Types
Tallrye AlertsThis is just a script to see the usage of volume from another source, i.e. US100 while using alerts in Renko chartview.
Chervolinos_Rob Hoffman_Inventory Retracement Bar_and_OverlayHere is something like a combo from the well known Rob Hoffman (Overlay) Indicator and the Inventory Retracement Bar without any ballast
This really smart strategy with a low risk and a quick profit. I combine this two Indicators to save space.
The first condition is that the orange line and the lime line must be parallel and there is no other line between them because this condition is moving under 45 angle.
The second condition is that the target candles must be below the orange line in the case of the downtrend as we see.
As we see it here in the case of an uptrend should be candles above the orange line and this is logical as we see here.
Sometimes we noticed the appearance of the signal onto the candle but the conditions were not applicable because there is an orange line between the green line and the orange line and this means that the signal is fake.
This candle is also good for entry and we can place a buy order above it but is it beginner, so you must respect the conditions in order to be able to master it very well.
Enter with Confidence all conditions are present a red arrow above the candle and the candle is above the orange line and there are no lines between the lime and
orange line. Yes this is our target the entry-point will be a little above the wicked the candle, that is you will not buy now but it's a price exceeds the weight limit
even slightly, we will buy directly it is hoffman's method. Expected if the price in which resistance occurred which is the resistance represented
by the candlewick will be broken the price for rise up and strongly and if it does not happen you will not lose anything anyway to stop loss and take profit. Try the ratio by 1,5.
This part of this strategy is one of the best trading strategies with a low risk rate and can be used as an initial guide to know the market movement and to enter successful trades.
Let's start correctly. This strategy can be used on any time frame from one minute to one day or even more, but I recommend using it on a 10-minute frame one hour or 30 minutes frame. Here I use the 30-Minute frame.
This strategy is based on two things: Tramp Direction and the inventory retracement bar. Don't worry and don't think about it because all this will be automatic but let's understand some simple terms.
There many arrows in green and red. Please read the discription above.
Please read the following tipps:
To avoid the trend Reversal, try to add one one of the Divergence indicators to your chart.
To avoid entering in a pullback movement as much as possible.
--> Combine it with other indicators <--
Best Regards Chervolino
if there were any typographical errors, please forgive me
Note: Buy/Sell signals using non-standard chart types (Heikin Ashi, Renko, Kagi, Point & Figure, and Range) are not allowed, as they produce unrealistic results
[blackcat] L2 SVE Volatility BandsLevel 2
Background
Sylvain Vervoort’s articles in the July issues on 2018,“The V-Trade, Part 5: Technical Analysis—Moving Average Support & Resistance And Volatility Bands”
Function
In “The V-Trade, Part 5: Technical Analysis—Moving Average Support & Resistance And Volatility Bands” in the July 2018 STOCKS & COMMODITIES, author Sylvain Vervoort introduced a new type of price band that he calls the SVEVolatilityBand. He created this new type of band to better highlight volatility changes when using non-time-related charts. According to the author, when using charts such as renko, traditional bands may fail to effectively highlight these changes.
Remarks
Feedbacks are appreciated.
volume oscillator nestPrice encountered resistance at Point A where it had earlier witnessed support. Later, it also witnessed resistance at points B and C, where earlier there had been demand — the previous support acting as resistance as per the principle of polarity. Renko brick reversal formations can help us in seeking confirmation and trading them.
ABCD 4-point uptrend chart pattern indicatorABCD 4-point chart pattern is a very popular and well known pattern in chart technical analysis, it consists of 4 points and 3 legs.
It exhibits three continued lines in a specific trend. The concept is to compare the retracement level between legs. For example, when leg BC makes a 0.382 or 38.2% Fibonacci retracement of the BA leg or AB, it means that the price difference from point C to B is equal to 38.2% of the price difference from point B to A.
Please note that this indicator is only for ABCD 4-point chart pattern in uptrend, in particular, it must be an uptrend from point A to point B.
There are many ways to define its formation, our unique algorithm is based on the following definition:
The point A, B and C are swing points and D does not have to be a swing point, but it must reach a given ratio of AB:CD.
The ratio of AB:CD is determined by comparing the price difference between C to D and A to B.
Here is the formula to calculate it: |Price of C - Price of D| / |Price of A - Price of B|.
Also, the price difference between B to C and A to B must reach a given ratio, BC:AB calculation is the same as AB:CD.
Point B must be higher than point A in a given percentage.
How it works?
The indicator will automatically detect the ABCD 4-point chart pattern based on the input values we use. It will draw three lines to connect point A, B, C and D once all four points satisfy the condition. It will also display the letter of A, B, C and D above or below in each corresponding bar. The indicator draws seven extension lines from point D as the support and resistance levels. The default levels are based on the Golden Ratio. You can change the ratios from input. The indicator will start to plot the lines as soon as the pattern is confirmed, the trend may continue to go up after the event.
It shows the Fibonacci retracement support and resistance levels for a given range and displays the corresponding ratio on the right side of the levels. The price range and levels are adjustable by user, you can easily identify the major and minor support/resistance levels from the chart with your desired inputs.
Features and Inputs:
No repaint, all drawing objects show up immediately right after the point D is detected.
Able to show patterns found in history data.
There is a Built-in alert function to easily set up an alert.
Works on all timeframes, including second, minute, hour, day, week, month.
Works on Renko, Heikin Ashi, Range, bar, candle chart types.
Strength, this input is used to define the minimum number of bars to the left and right side of the swing point.
B:A Ratio Min in %, this is the minimum price difference in percentage between point B and point A. If we enter 0.3 for this input, the indicator will check if B(swing high) was 0.3% higher than A(swing low).
B:A Ratio Max in %, this is the maximum price difference in percentage between point B and point A. If we enter 2.5 for this input, the indicator will check if the price difference between point B and point A was less than 2.5%.
BC:AB Ratio Min in %, this is the minimum ratio in percentage between section BC and AB. Here is the formula to calculate it: |Price of C - Price of B| / |Price of A - Price of B|.
BC:AB Ratio Max in %, this is the maximum ratio in percentage between section BC and AB. Here is the formula to calculate it: |Price of C - Price of B| / |Price of A - Price of B|.
CD:AB Ratio Min in %, this is the minimum ratio in percentage between section CD and AB. Here is the formula to calculate it: |Price of C - Price of D| / |Price of A - Price of B|.
CD:AB Ratio Max in %, this is the maximum ratio in percentage between section CD and AB. Here is the formula to calculate it: |Price of C - Price of D| / |Price of A - Price of B|.
Extension Range, this is the number of bars extend to the right side of the support and resistance lines, set it to 0 if you want to disable it.
ABCD letter COLOR, the color of the letter for point A, B, C and D. It's very useful when we use more than one instance of this indicator on the same chart with different input sets. We can easily distinguish them by different letter color.
ABCD Line COLOR, the color of the lines that connect point A, B, C and D. Similar functionality as the letter color.
Show Fibo Level labels, enable this input will show up the "0%" and "100%" as label on corresponding Fibonacci levels.
Level 1 to 5, are the support and resistance levels in percentage, please use negative value if you need a level below 0%, such as -61.8 means 61.8% below level 0%. The level 0% is the price level at Point A, and the level 100% is the price level at Point D, these two levels are fixed once the pattern formed.
You can change the color of each level line from the following colors: silver, gray, white, maroon, red, purple, fuchsia, green, lime, olive, yellow, navy, blue, teal, aqua and orange.
Line style: you can choose from: Solid, Dotted and Dashed.
1 is Solid like this: ______________________
2 is Dashed - - - - - - - - - - - - - - - - - - -
3 is dotted ............................................
Sometimes, we may need to focus on a particular pattern, which may require strict ratio parameters.
If we only want to detect an ABCD pattern, which qualify the following rules:
There must be at least 10 bars on both left and right sides of point A, B and C.
The price must raise around 0.8% from point A to point B
The ratio BC:AB must be around 70%
CD must have similar price difference of AB, in other words, price difference between point C and D should be similar to price difference between point A and B.
Then we can use the following inputs to detect such a pattern:
We need to enter 10 for the strength input value.
The price must raise around 0.8% from point A. We can use 0.75 for the min ratio of B:A and 0.85 for the max ratio of B:A, since 0.8 is between of 0.75 and 0.85. The value is in percentage, so 0.05 is only 0.05%, which is a very small amount of price change.
We should not simply use 100% for CD:AB ratio. The best way is to give a range from the min to the max percentage, since in real life we can hardly find any pattern has exact 100% as the CD:AB ratio.
Most of the time, the CD:AB ratio could be near 100%, such as 96%, 99% or 102%, so using 95% to 105% is a relatively reasonable range.
Please note that, only the latest found pattern will show the Fibonacci levels. The patterns found in history will only show the lines that connect the A, B, C and D points and the letters.
For more screenshots, videos and details about this indicator, please visit our website.
Anaconda Backtest VersionThis is the Anaconda strategy backtest version, no alerts. It will execute orders up to current_date - 2 days.
This is a LONG only strategy.
Anaconda waits for some thresholds to enter long. Once it enters long, it will setup profit and stoploss targets. These targets are updated if some conditions are met. The position is closed when the price hits profit or stoploss targets or when a certain bearish threshold is met.
No portfolio management is integrated. Positions are supposed to be entered with 100% equity and closed at 100%.
The strategy works better for large timeframes : 1h, 2h, 3h, 4h, 1D ...
You can apply the strategy to any symbol supported by TardingView and fine-tune the settings for the selected market/timeframe.
The strategy is supposed to be used on regular candles.
security() function has not been used. No special candles have been used (heikin ashi, renko etc.). Trailing stop (trail_* variables) have not been used.
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EXAMPLE SETTINGS
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These are the example settings for some assets that make the strategy perform well in the backtest mode.
Settings are listed in order of appearance in the strategy settings dialog in TradingView.
Please note that exaggerated profits for some symbols may come from the fact that the minimum ticker size of that symbol has been increased (from 0.0001 to 0.001 for example) between the start date and end date of the backtest. So you will see some trades closing outside the candle's ohlc range. Unfortunately, this is a limitation in TV and can't do much about it.
BNB/USDT (4h) : 11,5,1,3,10,4,1,4,5,200,6,2,19 (rsi threshold = 50)
FTM/USDT (1h) : 11,8,3,4,5,5,1,5,7,400,5,3,20 (rsi threshold=50)
ETH/USDT (4h) : 11,5,1,3,2,5,1,4,3,200,4,3,20 (rsi threshold = 68)
MATIC/USDT (1h) : 9,10,3,4,6,7,1,6,7,200,2,5,18 (rsi threshold = 70)
DASH/USDT (4h) : 8,8,3,3,4,4,1,7,5,200,3,2,21 (no rsi)
BAT/USDT (4h) : 8,8,3,3,7,7,1,8,6,200,3,2,21 (rsi threshold = 40)
BAT/USDT (1h) : 9,9,3,6,6,7,1,7,7,300,6,4,21 (no rsi)
DOGE/USDT (1h) : 11,8,3,4,4,9,1,4,6,200,3,2,18 (rsi thresold = 70)
NKN/USDT (1h) : 6,7,3,4,2,8,3,5,8,200,6,3,15 (rsi threshold = 50)
BTC/USDT (4h) : 6,5,3,4,7,6,5,5,6,200,2,3,15 (no rsi)
BTC/USDT (3h) : 6,5,3,4,7,5,1,6,4,300,2,2,17 (no rsi)
Smoothed Heiken Ashi - SamXThis is my version of the Smoothed Heiken Ashi indicator. While there are a few versions of these out there (most notably "Modified Smoothed Heiken Ashi" by badshah_e_alam and "Smoothed Heiken Ashi Candles v1" by jackvmk), none matched what I was looking for.
1. All had hard-coded the smoothing to use the EMA calculation - in this indicator, these are user-configurable
2. Both applied the double-smoothing principle (Take a moving-average of price, apply the Heiken Ashi conversion, then apply a second moving average to the smoothed Heiken Ashi candles to calculate new candles). While this is the most common approach, I had a few issues with this:
Even if setting both moving average lengths to 1, the indicator did not correctly calculate what should be the actual corresponding Heiken Ashi candle values (as compared to the built-in Heiken Ashi chart on Tradingview)
They were inconsistent in operating on different chart types - indicator values for the same candle can differ between using a base Heiken Ashi or Renko chart vs a standard Candle or Bar chart.
I wanted the ability to easily enable/disable the second smoothing (which is now a configuration option)
I wanted the ability to configure different moving-average calculations for each smoothing iteration (e.g. EMA for the initial smoothing, and Smoothed Moving Average for the second smoothing)
3. Many of the inputs were not clearly or properly defined in the settings window - this script has far more refined user input settings, put in logical groupings, and with relevant help text.
4. Enhanced some visual styling (and added to the Settings) to make it easier for the user to enable/disable printing candle wicks, as well as customizing the bullish / bearish bar colors
5. Added alerts for bar color change to help users catch potential trend reversals
Reference paper on the original Smoothed HA formulas: www.researchgate.net
Reference on the more common implementation formulas (using double-smoothing): www.sierrachart.com
Smoothed Waddah ATR~~~All Credit to LAZY BEAR for posting the original Script which is an old MT4 indicator.~~~~
No this system does not repaint... if it does let me know. Either the code is wrong or you are using a repainting chart such as renko candles.
*PURPOSE*
This Is an "Enhanced or Smoothed" version of the script that captures the heiken-ashi closing price as its main calculation variable. While using normal bar or line charts. Enhancements integrate trade filters to reduce false signals.
*WHAT TYPE OF TRADING STRATEGY IS THIS?*
This is a Long Only, Trend Trading System. Is intended to be applied to Charts/Timeframes that produce sustainable trends for which ever asset you are trading.
*NOTE OF ADVICE REGARDING SETTINGS*
Settings can be tweaked but I have found that best results come with the given settings. If a chart is too choppy to trade this indicator successfully, it is advised not to change the settings but either find a different timeframe or different asset to apply this strategy to.
TLDR
Indicator measures the change of the MacD (difference between MAC D of given EMA's) and compares it to the difference between the Upper and Lower Bollinger bands. Green bar over trigger line= entry. Red bar over trigger line = close.
*SETTINGS AND INPUTS*
-MacD of HeikenAshi chart (will always be of the Heikenashi chart even when applied to different chart type)
sensitivity = input(150, title='Sensitivity') =range should be (125-175)multiplier so that MacD can be compared to BB
fastLength = input(20, title='MacD FastEMA Length')
slowLength = input(40, title='MacD SlowEMA Length')
-Bollinger Band of currently used price chart type
channelLength = input(20, title='BB Channel Length')
mult = input(1.5, title='BB Stdev Multiplier')
-14 Period RSI Trade Filter (set to 0 to Disable)
RSI14filter = input(40, title='RSI Value trade filter') =only gives entry when RSI is higher than given value
*ABSTRACT & CONCEPT*
TLDR - Indicator measures the change of the MacD (difference between MAC D of given EMA's) and compares it to the difference between the Upper and Lower Bollinger bands. Green bar over trigger line= entry. Red bar over trigger line = close.
Indicator plots -
Bars are the change in the MAC D and the indicator line is the difference in the BB.
When Bars are higher than the indicator line then it is considered a trend "Explosion"
Green Bars are Trend Explosion to the upside, Red Bars are Trend explosion to the downside.
GENERAL DETAIL-
the core calculation is measuring the change in MacD of current candle compared to the MacD of two previous candles.
This value is multiplied by the sensitivy so it can be compared to the change in Bollinger Band Width.
if the MACD change is positive then you get a green/lime bar for that value. If the MacDchange is negative you get a red/orange bar for that value.
and are determined by whether the actual change is increasing in that direction or decreasing. (bars getting taller or bars getting shorter)
Entry signal for long is A positive change in MACD difference (Green bar) that is greater than the change of the bollinger band (orange signal line) AND if the RSI value is above your filter.
Close signal or Trend Stop Warning Signal is given when a Negative MacD Difference (red bar) is greater than the change of the bollinger band (orange Line)
*CONSIDERATIONS AND THOUGHTS*
I have over 150 iterations of this indicator and this is the most consistent and best version of settings and filters I was able to generate. I built this indicator specifically for 3 charts. SPY monthly, QQQ monthly, BTC 3 Day. However this indicator works well on any long term bullish chart. (tech stocks are great) .
Trend trading systems are intended to be homerun hitting, plunge protecting indicators that allow for long legs and expanding volatility. This indicator does this as the trigger line is Dynamic with the expansion and contraction of the bollinger band.
I do not take every signal specifically not the close signals. Instead they more like warnings in ultra bullish environments.
If i had to pair this indicator with any other filter than the RSI, it would be a long term moving average i.e. the 50 week or equivalent for your chart. signals above rising moving averages means that you are trading with an upward trending market.
Hope this helps. Happy trades.
-SnarkyPuppy
st_renkoThe indicator has two parameters: the period and the number of splits. For the selected period, the maximum and minimum are calculated, and the scope of the market is determined by the difference between the maximum and minimum. The scope is divided by the number of partitions, thereby determining the step of the levels. If the average price (ohlc4) falls within the range between levels, this range is drawn. A simpler analogy: we have a local minimum. and the local maximum for the selected period, we build a ladder between them, the number of steps of which is equal to the number of splits, and if the price is on some step of this ladder, then this step is drawn, so we can see how many steps separate us from the maximum and minimum.
TIL Trend NavigatorTrading Indicator Lab’s Trend Navigator for TradingView is an indicator that can help you reveal the underlying trends in any chart on any timeframe.
Determining Trends
It only takes a minute or two to analyze the indicator with its simple yet insightful methods of representing bullish, bearish and ranging price action across the chart. It forms a single line that runs in 3 directions:
- Upward direction – represents a significant bullish price action
- Horizontal direction – represents ranging price action or consolidation
- Downward direction – represents a significant bearish price action
The indicator borrows the concept of Renko charts where upward and downward price action are shown to move at a single identical angle. This makes the indicator more intuitive and easier to read.
Support and Resistance
That’s not all. The Trend Navigator can also serve as a support or resistance line at any given point in the bar history. This is distinguished with the dual colors of the lines which alternates at each segment:
- Support segment (green) – the segment acts as support where price moves above the line
- Resistance segment (orange) – the segment acts as resistance where price moves below the line
Breakouts occur when the bar crosses above or below the Trend Navigator, at which point, its line changes color to signal the change of its role as a support or resistance level.
Available Alert Conditions
- Cross – triggers when price crosses the Trend Navigator
- Soar – triggers when majority of the bar’s body crosses above the Trend Navigator
- Plummet – triggers when majority of the bar’s body crosses below the Trend Navigator
- Uptrend – triggers when a new uptrend is detected
- Downtrend – triggers when a new downtrend is detected
- Ranging – triggers when a new ranging price action is detected
- Trend Reversal – triggers when either an uptrend or downtrend is detected
Inputs
- Length – sets the number of bars the indicator analyzes at each execution
- Support Segment Color – allows the user to change the color of the support segments. Its default color is green
- Resistance Segment Color – allows the user to change the color of the resistance segments. Its default color is orange
WOTS Forex IndicatorThe WOTS Forex Indicator gives you a true picture of the market entry points, after a scan it performs every period (after every candlestick closes) . It is pretty straightforward in its use with clear visual representation of the entry and exit points provided by the indicator.
This allows you to make improved entry and exit points either you're going long or short on any Forex pair you like, and accommodates many trading styles, systems, and strategies.
It will work along most TradingView indicators and the timeframes we recommend you using it are the 30M, 1H and sometimes the 4H chart.
The specific components of the indicator are:
Methodology:
The indicator uses a MACD oscillator to determine the local trend direction and to give buy & sell signals when its conditions are met.
An optional build-in indicator, exponential moving average cross (EMA cross), can be used to filter out 'false' signals.
The calculation of the entry points are drawn from universal prices that fit every pair in the Forex market you may choose.
Persistent variables are used for buy and sell prices, enabling color-coding of the signals (profitable or not).
Features:
Color coded labels - Buy & Sell
Four types of entries - Bull Buy = orange, Scalp Buy = green & Bear Sell = purple, Scalp Sell = red
Universal prices fitting all Forex pairs
Four Buy and Sell signal alerts
Remarks:
In our experience and recommendation, the values used work best on the 30-minute & 1-Hour timeframes. We encourage everyone to experiment the best results we had, were on this specific timeframe, higher or even lower.
Using the indicator on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results.
- Thanks to John Aslanis and Alexandros Temelkou the idealists and creators of this indicator.
Use the link below to watch a tutorial video, request a trial, or purchase for access
[astropark] Trend Is Your Friend SERIES [alarms]Dear Followers,
today I'm glad to present you an indicator which is a mix of three indicators of mine: Trend Is Your Friend Series !
As you may easily understand from the name, this indicator incorporates all 3 Trend is You Friend indicators I made in past.
This way you can control all of them just with one indicator.
Of course this comes with some useful integration features:
a bull green triangle appears when all trends are bullish (you can set an alert for this)
a bear purple triangle appears when all trends are bearish (you can set an alert for this)
bar coloring reflects the bullish/bearish integration too
you have an option to enable/disable all trends buy/sell signals
you have an option to hide trend clouds borders (chart will be way cleaner this way)
you can still customize each trend indicator settings and set alerts on each trend individually
you can enable/disable heikin ashi analysis
As per Trend is Your Friend V1/V2/V3, this indicator is for higher timeframe trading, from 4h and above is suggested.
This indicator is pretty good for both Swing and Scalping , you can run it over a bot or use it on Renko chart!
If you are a scalper, you will love suggested entries for fast profit. You can run it on 1h timeframe in this case (below is not suggested, there is "no-trend" below 1h!). If you are used to scalp trading, be sure to close each trade whenever you feel happy (a proper trailing stop strategy is suggested for example).
As I always say, all tools are great if you use them correctly: this is not the "Holy Grail", so always use proper money and risk management strategies.
For your reference, here you can see original basic indicators that were integrated here:
V1 backtesting strategy
V2 backtesting strategy
V3 backtesting strategy
This is a premium indicator , so send me a private message in order to get access to this script.
MTF CandleLevelsIn the spirit of freedom from oppression on this day of July 4th, 2021 in the United States, I hereby release this flagship indicator "MTF CandleLevels" into the wild for any subscribing TV member on the planet to utilize. It's now one my few great gifts to the souls of humankind within the realm of trading on TV. TradingView continues to bless Pine Script by releasing supplemental upgrades, enough for me to develop this indicator beyond it's experimental phase to full potential, as I had always wished to design it from theory. Educationally while using it, you will witness how OHLC/HA candles are actually formed for charts. I like to think of it as a candle formation microscope anyone can learn from.
It is intended for any style of trading or skill level from newcomer to advanced. There are no requirements/prerequisites for you use it. Which means you don't have to wear a mouth muzzle, get multiple doses of the life endangering FrankenJabs, subserviently bow down to authoritarian demands of obedience, or learn the ancient mystical art of deception "Fau Chi" in order to employ it's inherent power. A little sprinkle of satire helps with a dry technical read :). You have the absolute freedom to utilize it any way you see fit! That's right, it's even your choice whether you use it or not. The unshackled empowerment of choice always equates to FREEDOM. I can't program these precious gems without it...
One thing you will have noticed is it's specifically published on a Heikin Ashi(HA) chart, while having immunity to the Heikin Ashi candle charts unique open/close behavior. This has been believed to be an impossibility until now. For members who don't know, HA candle charts have a different `open` and `close` from the `open` and `close` of the other ordinary OHLC candle charts. Regardless of "CandleLevels Mode" chosen in Settings, the indicator will display identical on either bar chart type, excluding Renko, Line Break, Kagi, Point&Figure, and Range candle charts of course. It's abilities supersede the simpler "Multi-Time Period Charts" built-in TV indicator with a completely different architecture. For those of you extremely curious about how I accomplished this indicators level of code complexity, it was immensely difficult taking over a year of effort for this one functional unit, and I will leave it at that...
This novel MTF technology displays OHLC/HA support and resistance levels that mimic the functionality of larger duration candle formations in real time. Basically explained, while charting on a shorter duration timeframe candle chart, you can see open, high, low, and close levels fluctuate in the larger duration timeframe. This reduces the need to jump back and forth to view price action on different chart sampling intervals. You may even use multiple sets of CandleLevels indicators over a wide variety of chosen timeframe options, along with everything else in between.
The CandleLevels behavior is chosen within the indicator "Settings" using a selection mode of either the standard OHLC candlestick formations or Heikin Ashi candlestick formations. Each mode has a multitude of uses depending on the users trading style or timeframe.
Visbility of CandleLevels will ONLY occur when it is set to a larger duration timeframe interval than the current chart sampling rate. For example, you may be using the 5 minute interval sampling rate on the chart, yet you can easily see the open, high, low, close ranges with a chosen 120 minute timeframe setting. The multiple time frame(MTF) settings are highly adjustable having intervals of seconds, minutes, days, a multiple of the chart interval, or the common input(type=input.resolution) function provided by Pine.
CandleLevels come with multiple color schemes to reduce color interference with other indicators in the overlay pane, including the intended use of multiple sets of CandleLevels. My basic color scheme selections can be overridden to choose any imaginable color you desire for your visual acuity. Also, there are additional controls available to fine tune a visually pleasing appearance depending on your preferences and viewable area. One last new hidden fine tune capability, not only for this indicator but all TV indicators, is the agility to use up/down arrow keys on the keyboard when an indicator setting is in focus after mouse selection. For example, when choosing line thickness, you can modify values/options by key stroke. Try it out, I'm sure you will find this useful for any indictor for eternity.
NOTICE: There is only 500 line drawings available, in total to display, at this current release. This equates to 83 sets of CandleLevels maximum.
Features List Includes:
Candle type selection
MTF controls for seconds, minutes, days, multiple-of, and TV input
Multiple color schemes with color overrides
Color opacity selector
Line thickness control
Enable/disable capable MTF interval display with positioning
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
RISK DISCLAIMER:
My scripts, indicators, and studies are specifically intended for informational and educational use only. These use historical data points to perform calculations to derive real-time calculations. They do not infer, indicate, or guarantee future results or performance.
By utilizing this script/indicator/study or any portion of it, you agree to accept 100% responsibly and liability for your investment or financial decisions, and I will not be held liable for your subjective analytic interpretations incurring sustained monetary losses. The opinions and information visual or otherwise provided by this script/indicator is not investment advice, nor does it constitute recommendation.
Crypto Advanced Trading IndicatorThe Crypto Indicator gives you a true picture of the market entry points, after a scan it does every period (after every candlestick closes) . It is pretty straightforward in its use with clear visual representation of the entry and exit points provided by the indicator.
This allows you to make improved entry and exit points and accommodates many trading styles, systems, and strategies.
It will work along most TradingView indicators and the timeframes we recommend you using it in are the 1H and sometimes the 4H chart.
The specific components of the indicator are:
Methodology:
The indicator uses a MACD oscillator to determine the local trend direction and to give buy & exit signals when its conditions are met.
An optional TradingView indicator, exponential moving average cross (EMA cross), can be used to filter out 'false' signals.
The calculation of the entry points are drawn from specific different prices for every one of the coins hardcoded in the script, and the filter function in the indicator settings, allows the user to change those prices based on the coin he is currently watching, based on the specific coin it is chosen in the filter.
Persistent variables are used for buy and exit prices, enabling color-coding of the signals (profitable or not).
Features:
Color coded labels - Buy, Exit = purple
Two types of entries - Bull Buy = green, Bear Buy = orange
Coin filter
Buy signal alerts
Remarks:
In our experience and therefore recommendation, the values used for each crypto coin work best on the 1-Hour timeframe. We encourage everyone to experiment, but the best results we had, were on this specific timeframe or higher.
Using the indicator on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results.
- Thanks to John Aslanis and Alexandros Temelkou the idealists and creators of this indicator.
Use the link below to watch a tutorial video, request a trial, or purchase for access:
