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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
Indicatore Pine Script®
di chervolino
[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.
Indicatore Pine Script®
di blackcat1402
4
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
Indicatore Pine Script®
di SamAccountX
34
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
Strategia Pine Script®
di SnarkyPuppy
3
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.
Indicatore Pine Script®
di Ushel-v-telegu
1
Tick Chart RSIHello All, This is Tick Chart RSI script and it calculates & shows RSI for Tick Chart. What is Tick chart? Tick Chart is created using ticks and each candlestick in Tick Chart shows the price variation of X consecutive ticks (X : Number of Ticks Per Candle). For example if you set "Number of Ticks Per Candle" = 100 then each candlestick is created using 100 ticks. so, Tick Charts are NOT time-based charts (like Renko or Point & Figure Charts). Tick is the price change in minimum time interval defined in the platform. There are several advantages of Tick Charts. You can find many articles about Tick Charts on the net. Tick Chart and Tick Chart RSI only work on realtime bars. You can set " Number of Ticks Per Candle " and the colors. You can also set any of the candles OHLC values as source for RSI. While using Tick Chart RSI I recommend you to add Tick Chart as well. P.S. Tick Chart RSI script can be developed using different methods. in this script, all RSI values are calculated on each tick because RSI is calculated for only real-time bars, and also calculated for limited number of bars Tick Chart and Tick Chart RSI: Tick Chart RSI: Enjoy!
Indicatore Pine Script®
di LonesomeTheBlue
20
Tick ChartHello All, Tick Chart is created using ticks and each candlestick in Tick Chart shows the price variation of X consecutive ticks ( X : Number of Ticks Per Candle ). for example if you set Number of Ticks Per Candle = 100 then each candlestick is created using 100 ticks. so, Tick Charts are NOT time-based charts (like Renko or Point & Figure Charts). Tick is the price change in minimum time interval defined in the platform. There are several advantages of Tick Charts. You can find many articles about Tick Charts on the net. Tick Chart only works on realtime bars. You can set " Number of Ticks Per Candle " and " Number of Candles" using options. You can change color of body, wicks abd volume bars as well. The script shows current, minimum, maximum and average volumes. it also shows OHLC values on the last candle. Tick Chart using different number of ticks Volume info: Enjoy!
Indicatore Pine Script®
di LonesomeTheBlue
105
ITG ScalperITG Scalper by Complector. Inspired by Juboal-Rabaroansa Perosteck Alseyn Balveda dam T'seif Methology: - I am using a TEMA (triple EMA) to determine the local trend direction and to give buy & sell signals when the trend changes. - An optional filter, using moving average convergence divergence (MACD), can be switched on to filter out 'false' signals. - The calculation of the TEMA does not request data from a resolution higher or lower than the resolution of the main charts symbol, However, the filter function does, if another resolution is chosen for the filter. - Persistent variables are used for buy and sell prices, enabling color-coding of the sell-signal (profitable or not). Features: - Color coded TEMA - bullish=green , bearish=red - Buy/Sell indicator - Sell indicator: green=profit, yellow=loss - Optional noise filter - Optional variable time-frame for noise filter Remarks: In my experience, the default values works best on the daily time frame. I encourage everyone to experiment with the values for best results. Using the script on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results. Using a resolution higher or lower than the main charts symbol for the filter can possibly lead to repainting. Thanks to Iain M. Banks for making my life richer :-)
Indicatore Pine Script®
di Complector
87
Up/Down Trend MarkerA simple indicator of trend by using 3 EMAs of multiplies of 2, 5 and 10, filtered by standard positive/negative directional movements (DM) which are the base of Average Directional Index (ADX). The "Trend Strength" option is included to set the EMA multipliers and also the variation between DM+ and DM- which interpret the trend as a weak or a strong one. Note that the markers only point to almost the beginning of the trends and just change the direction when the opposite trend is detected. Feel free to send me your opinions.
Indicatore Pine Script®
di informanerd
15
Ichimoku Cloud - AlertsIchimoku cloud IC is a trend - following system with an indicator similar to moving averages It predicts price movements Offers a unique perspective of support and resistance levels. Conversion Line (Turning Line) - Measures Short Term Trend - SIgnals an area of minor support and resistance Base Line (Confirmation Line) Measures Medium term trend Used as Trailing Stop Level. Lagging Span (Lagging Line) Used for Confirmation of signals Can also serve as Support and Resistance Level Kumo Cloud Formed of two lines: Span A (Green Line) and Span B (Red Line) Dynamic Support and Resistance . HOW TO READ ICHIMOKU INDICATOR Conversion Line If the Market Price is above the Conversion Line = Short Term Upward Movement If the Market Price is below the Conversion Line = Short Term Downward Movement Increasing Conversion Line = Upward Short Term Trend Decreasing Conversion Line = Downward Short Term Trend Base Line If the Market Price is above the baseline = Medium - term upward trend If the Market price is below the baseline = Medium - Term downward Trend Increasing Base Line = Upward Medium term trend Decreasing Base Line = Downward Medium Term Trend Lagging Span The Evolution of the current price action in relation to previous price action If the Lagging span is above the current price = Bullish Bias If the Lagging span is below the current price = Bearish Bias Lagging span near the current price = Trading range Kumo Cloud Dynamic Support and Resistance based upon price action. The longer the price stays below/above the Kumo cloud, the STRONGER the trend is. When the cloud is wide, the expected support or resistance is strong When the cloud is thin, the expected support or resistance is weak Never trade inside the KUMO CLOUD. HOW TO TRADE WITH ICHIMOKU CLOUD Baseline and conversion Line crossover (Lagging Span as a Filter) crossover(conversion line, baseline) = Buy crossunder(conversion line, baseline) = Sell FILTER crossover(conversion line, baseline) and lagging span is Bullish (i.e above the price) = Buy Crossunder(conversion line, baseline) and lagging span is Bearish (i.e below the price) = Sell 2. Baseline - Conversion line crossover (Kumo cloud Filter) crossover(conversion line, baseline) above the Kumo Cloud = Strong Buy crossover(conversion line, baseline) below the Kumo cloud = Weak Buy crossunder(conversion line, baseline) below the Kumo Cloud = Strong Sell crossunder(conversion line, baseline) above the Kumo Cloud = Weak Sell 3. Kumo Cloud Breakout When the price enters the Kumo Cloud, and breaks its Upper wall upward = Bullish Signal When the price enters the Kumo Cloud, and breaks its Lower wall downward = Bearish Signal 4. Kumo Cloud Crossover When Span A cuts the Span B from below to the upside and prices are positioned above the Kumo Cloud = Strong Buy Signal When Span A cuts the Span B from upside to the bottom and the prices are positioned below the Kumo Cloud = Strong Sell When Span A cuts Span B from bottom to the upside and prices are positioned below the Kumo Cloud = Weak Buy Signal When Span A cuts Span B from the upside to the bottom and the prices are positioned above the Kumo Cloud = Weak Sell Signal. NOTE:- Some of the signals collide with each other, but they collide for the same call, so shouldn't really be a problem overall. Let me know if you have any suggestions to nullify the trading Range. Though I do plan on adding my Renko code to it for filtering out Trading Range.
Indicatore Pine Script®
di puneetghai
49
Trend Risk Indicator (TRI)The Trend Risk Indicator is a simple bands indicator made of 2 custom averages of candlesticks ranges calculated within the variable “ BandBars ” period. Upper and lower channel bands width can be adjusted with the “ Deviation ” variable, which act as a simple factor to enlarge the spread between them. When Close crosses over the upper band, it is a bearish signal and candlesticks are painted in Red. When Close crosses under the lower band, it’s a bullish signal and candlesticks are painted in Green. One of the most interesting indicators for 1 minute scalping. Recommended to use on Renko bars. *drag to chart and pin to scale, also remove borders from candlesticks.
Indicatore Pine Script®
di UnknownUnicorn170838
4
Weis pip zigzag jayyWhat you see here is the Weis pip zigzag wave plotted directly on the price chart.  This script is the companion to the Weis pip wave (  ) which is plotted in the lower panel of the displayed chart and can be used as an alternate way of plotting the same results.  The Weis pip zigzag wave shows how far in terms of price a Weis wave has traveled through the duration of a Weis wave.  The Weis pip zigzag wave is used in combination with the Weis cumulative volume wave.  The two waves must 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 "Select Weis Wave Size"  In this example, it is set to 5.  Each wave for each security and each timeframe requires its own wave size.  Although not the traditional method a more automatic way to set wave size would be to use ATR.  This 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 pip wave will be shown. I have put a pip zigzag of a 5 point Weis wave on the bar chart - that is a different script.  I have added it to allow your eye to see what a Weis wave looks like.  You will notice that the wave is not in straight lines connecting wave tops to bottoms this is a function of the limitations of Pinescript version 1.  This script would need to be in version 4 to allow straight lines.  There are too many calculations within this script to allow conversion to Pinescript version 4 or even Version 3.  I am in the process of rewriting this script to reduce the number of calculations and streamline the algorithm.    The numbers plotted on the chart are calculated to be relative numbers.  The script is limited to showing only three numbers vertically.  Only the highest three values of a number are shown.  For example, if the highest recent pip value is 12,345 only the first 3 numerals would be displayed ie 123.  But suppose there is a recent value of 691.  It would not be helpful to display 691 if the other wave size is shown as 123. To give the appropriate relative value the script will show a value of 7 instead of 691. This informs you of the relative magnitude of the values.  This is done automatically within the script.  There is likely no need to manually override the automatically calculated value.  I will create a video that demonstrates the manual override method. 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.  Weis specifically uses candle or bar closes to define all wave action ie a line chart.   David Weis did a futures  io video which is a popular source of information about his method. This is the identical script with the identical settings but without the offending links. If you want to see the pip Weis method in practice then search Weis pip wave.  If you want to see Weis chart in pdf then message me and I will give a link or the Weis pdf.  Why would you want to see the Weis chart for May 27, 2020?  Merely to confirm the veracity of my algorithm.  You could compare my Weis chart here () from the same period to the David Weis chart from May 27. Both waves are for the ES!1 4 hour chart and both for a wave size of 5. 
Indicatore Pine Script®
di jayy
22
Weis Pip Wave jayyWhat you see here is the Weis pip wave.  The Weis pip wave shows how far in price a Weis wave has traveled through the duration of a Weis wave.  The Weis pip wave is used in combination with the Weis cumulative volume wave.  The two waves must be set to the same "wave size" and using the same method as described by Weis. Using the traditional Weis method simply enter the desired wave size in the box "Select Weis Wave Size".  In the example shown, it is set to 5 points.  Each wave for each security and each timeframe requires its own wave size.  Although not the traditional method a more automatic way to set wave size would be to use ATR.  This is not the true Weis method but it does give you similar waves and, importantly, without the hassle of selecting a wave size for every chart. Once the Weis wave size is set then the pip wave will be shown. I have put a zigzag of a 5 point Weis wave on the above bar chart.  I have added it to allow your eye to get a better appreciation for Weis wave pivot points.  You will notice that the wave is not in straight lines connecting wave tops to bottoms this is a function of the limitations of Pinescript version 1.  This script would need to be in version 4 to allow straight lines.  I will elaborate on the Weis pip zigzag 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.  Weis specifically uses candle/bar closes to define all wave action.   David Weis did a futures.io video which is a popular source of information about his method. Cheers jayy PS This script was published a day ago, however, I had included some links to the website of a person that uses Weis pip waves and also a dropbox link that contains the Weis wave chart for May 27, 2020, published by David Weis. Providing those links is against TV policy and so the script was hidden by TV.  This is the identical script with the identical settings but without the offending links. If you want to see the pip Weis method in practice then search Weis pip wave. I have absolutely no affiliation.  If you want to see Weis chart in pdf then message me and I will give a link or the Weis pdf.  Why would you want to see the Weis chart for May 27, 2020?  Merely to confirm the veracity of my algorithm.  You could compare my chart () from the same period to the Weis chart. Both waves are for the ES!1 4 hour chart and both for a wave size of 5.
Indicatore Pine Script®
di jayy
30
TA Basics: further "Steps" with our Moving AverageSo far in this series of posts, we have worked thru creating a basic zero-lag moving average, then moved forward all the way to coding a "Fibonacci" Weighted Moving Average. in this post we take a look at a technique that can help traders minimize noise in the underlying data and get better insight on the changes that are happening in the data series represented by the moving average. we'll look at adding "stepping" to our Fibonacci Moving Average as an example. we introduce the Stepping Fibonacci Moving Average , or Step_FiMA note that you can use the same technique with any plot you may have. feel free to copy or leverage the relevant parts of the script - the script is commented to make this easier. How is this useful? ================== with "stepping", you get your indicator to "round" the outcome into pre-specified bands or ranges. this works very similar to how, for example, range or Renko charts work. you can easily see the difference in the chart above once we look at a non-stepped and a stepping moving average of the same length side-by-side the more granular your timeframe is, you will see the effect of the stepping clearer - here's how the same chart looks when we go into the 1-hr aggregation Notes about this script ==================== there are couple of pieces i wanted to highlight in the script if you plan to use some of it : 1 - the step(x) function is meant to try to automatically pick the best "suitable" step size based on the range of the underlying series (for example, the closing price). these ranges i included here in the code are just my own "best choices" - you are totally welcome to adjust these ranges and the resulting step size to your own preference 2 - we applied the stepping as a user-choice. user can choose a manual entry, or "0" to get the code to automatically pick the step size, or enter -1 (or actually any value below zero) to cancel the stepping option altogether - this gives us some flexibility on how to use the stepping in an indicator 3 - very important (and somehow confusing): on the "rounding" approach: the magic math formula that actually creates the stepping is this one result = round(input / step) * step now, this tells the script to "round" the result up or down (the basic rounding) -- so for example, a price of 17 with a step of 5 would be rounded (down) to 15, where as a price of 18 would be rounded "up" to 20 -- this is not the way some of us would expect or want, cause the price never reached 20 and they would want an 18 to still be rounded to 15 - and the stepping line not to show 20 *until* the price actually hits or exceeds 20 -- in that case, you would need to replace the function "round" with the function "floor" -- so the new formula becomes: floor(input / step) * step -- in an ideal world, we can make this rounding choice a user-option in the settings -- maybe in an improved version 4 - we kept the smoothing option, and it takes place before the stepping is applied - we continue to use that smoothing to further minimize the level changes in the FiMA line. I hope you find this script useful in your journey with technical analysis and DIY scripting, and good luck in your trading.
Indicatore Pine Script®
di RedKTrader
Why is it ok to backtest on TradingView from now on!TradingView backtester has bad reputation. For a good reason - it was producing wrong results, and it was clear at first sight how bad they were. But this has changed. Along with many other improvements in its PineScript coding capabilities, TradingView fixed important bug, which was the main reason for miscalculations. TradingView didn't really speak out about this fix, so let me try :) Have a look at this short code of a swing trading strategy (PLEASE DON'T FOCUS ON BACKTEST RESULTS ATTACHED HERE - THEY DO NOT MATTER). Sometimes entry condition happens together with closing condition for the already ongoing trade. Example: the condition to close Long entry is the same as a condition to enter Short. And when these two aligned, not only a Long was closed and Short was entered (as intended), but also a second Short was entered, too!!! What's even worse, that second short was not controlled with closing conditions inside strategy.exit() function and it very often lead to losses exceeding whatever was declared in "loss=" parameter. This could not have worked well... But HOORAY!!! - it has been fixed and won't happen anymore. So together with other improvements - TradingView's backtester and PineScript is now ok to work with on standard candlesticks :) Yep, no need to code strategies and backtest them on other platforms anymore. ---------------- Having said the above, there are still some pitfalls remaining, which you need to be aware of and avoid: Don't backtest on HeikenAshi, Renko, Kagi candlesticks. They were not invented with backtesting in mind. There are still using wrong price levels for entries and therefore producing always too good backtesting results. Only standard candlesticks are reliable to backtest on. Don't use Trailing Stop in your code. TradingView operates only on closed candlesticks, not on tick data and because of that, backtester will always assume price has first reached its favourable extreme (so 'high' when you are in Long trade and 'low' when you are in Short trade) before it starts to pull back. Which is rarely the truth in reality. Therefore strategies using Trailing Stop are also producing too good backtesting results. It is especially well visible on higher timeframe strategies - for some reason your strategy manages to make gains on those huge, fat candlesticks :) But that's not reality. "when=" inside strategy.exit() does not work as you would intuitively expect. If you want to have logical condition to close your trade (for example - crossover(rsi(close,14),20)) you need to place it inside strategy.close() function. And leave StopLoss + TakeProfit conditions inside strategy.exit() function. Just as in attached code. If you're working with pyramiding, add "process_orders_on_close=ANY" to your strategy() script header. Default setting ("=FIFO") will first close the trade, which was opened first, not the one which was hit by Stop-Loss condidtion. ---------------- That's it, I guess :) If you are noticing other issues with backtester and would like to share, let everyone know in comments. If the issue is indeed a bug, there is a chance TradingView dev team will hear your voice and take it into account when working on other improvements. Just like they heard about the bug I described above. P.S. I know for a fact that more improvements in the backtesting area are coming. Some will change the game even for non-coding traders. If you want to be notified quickly and with my comment - gimme "follow".
Strategia Pine Script®
di Peter_O
27
Dekidaka-Ashi - Candles And Volume Teaming Up (Again)The introduction of candlestick methods for market price data visualization might be one of the most important events in the history of technical analysis, as it totally changed the way to see a trading chart. Candlestick charts are extremely efficient, as they allow the trader to visualize the opening, high, low and closing price (OHLC) each at the same time, something impossible with a traditional line chart. Candlesticks are also cleaner than bars charts and make a more efficient use of space. Japanese peoples are always better than everyone at an incredible amount of stuff, look at what they made, the candlesticks/renko/kagi/heikin-ashi charts, the Ichimoku, manga, ecchi... However classical candlesticks only include historical market price data, and won't include other type of data such as volume, which is considered by many investors a key information toward effective financial forecasting as volume is an indicator of trading activity. In order to tackle to this problem solutions where proposed, the most common one being to adapt the width of the candle based on the amount of volume, this method is the most commonly accepted one when it comes to visualizing both volume and OHLC data using candlesticks. Now why proposing an additional tool for volume data visualization ? Because the classical width approach don't provide usable data regarding volume (as the width is directly related to the volume data). Therefore a new trading tool based on candlesticks that allow the trader to gain access to information about the volume is proposed. The approach is based on rescaling the volume directly to the price without the direct use of user settings. We will also see that this tool allow to create support and resistances as well as providing signals based on a breakout methodology. Dekidaka-Ashi - Kakatte Koi Yo! "Dekidaka" (出来高) mean "Volume" in a financial context, while "Ashi" (足) mean "leg" or "bar". In general methods based on candlesticks will have "Ashi" in their name. Now that the name of the indicator has been explained lets see how it works, the indicator should be overlayed directly to a candlestick chart. The proposed method don't alter the shape of the candlesticks and allow to visualize any information given by the candles. As you can see on the figure below the candle body of the proposed tool only return the border of the candle, this allow to show the high/low wick of the candle. The body size of the candle is based on two things : the absolute close/open difference, and the volume, if the absolute close/open difference is high and the volume is high then the body of the candle will be clearly visible, if the volume is high but the absolute close/open difference is low, then the body will be less visible. This approach is used because of the rescaling method used, the volume is divided by the sum between the current volume value and the precedent volume value, this rescale the volume in a (0,1) range, this result is multiplied by the absolute close/open difference and added/subtracted to the high/low price. The original approach was based on normalization using the rolling maximum, but this approach would have led to repainting. You have access to certain settings that can help you obtain a better visualization, the first one being the body size setting, with higher values increasing the body amplitude. In green body with size 2, in red with size 1. The smooth parameter will smooth the volume data before being used, this allow to create more visible bodies. Here smooth = 100. Making Bands From The Dekidaka-Ashi This tool is made so it output two rescaled volume values, with the highest value being denoted as "Dekidaka-high" and the lowest one as "Dekidaka-low". In order to get bands we must use two moving averages, one using the Dekidaka-high as input and the other one using Dekidaka-low, the body size parameter should be fairly high, therefore i will hide the tool as it could cause trouble visualizing the bands. Bands with both MA's of period 20 and the body size equal to 20. Larger periods of the MA's will require a larger amount of body size. Breakout Signals There is a wide variety of signals that can be made from candles, ones i personally like comes from the HA candles. The proposed tool is no exception and can produce a wide variety of signals. The signals generated are basic ones based on a breakout methodology, here is each signal with their associated label : Strong Bullish signal "⇈" : The high price cross the Dekidaka-high and the closing price is greater than the opening price Strong Bearish signal "⇊" : The low price cross the Dekidaka-low and the closing price is lower than the opening price Weak Bullish signal "↑" : The high price cross the Dekidaka-high and the closing price is lower than the opening price Weak Bearish signal "↓" : The low price cross the Dekidaka-low and the closing price is greater than the opening price Uncertain "↕" : The high price cross the Dekidaka-high and the low price cross the the Dekidaka-low In order to see the signals on the chart check the "Show signals" option. Note that such signals are not based on an advanced study, and even if they are based on a breakout methodology we can see that volatile movement rarely produce signals, therefore signals mostly occur during low volume/volatility periods, which isn't necessarily a great thing. Conclusion A trading tool based on candlesticks that aim to include volume information has been presented and a brief methodology has been introduced. A study of the signals generated is required, however i'am not confident at all on their accuracy, i could work on that in the future. We have also seen how to make bands from the tool. Candlesticks remain a beautiful charting technique that can provide an enormous amount of information to the trader, and even if the accuracy of patterns based on candlesticks is subject to debates, we can all agree that candlesticks will remain the most widely used type of financial chart. On a side note i mostly use a dark color for a bullish candle, and a light gray for a bearish candle, with the border color being of the same color as the bullish candle. This is in my opinion the best setup for a candlestick chart, as candles using the traditional green/red can kill the eyes and because this setup allow to apply a wide variety of colors to the plot of overlayed indicators without the fear of causing conflict with the candles color. Thanks for reading ! :3 Nya A Word This morning i received some hateful messages on twitter, the users behind them certainly coming from tradingview, so lets be clear, i know i'am not the most liked person in this community, i know that perfectly, but no one merit to be receive hateful messages. I'am not responsible for the losses of peoples using my indicators, nor is tradingview, using technical indicators does not guarantee long term returns, your ability to be profitable will mostly be based on the quality and quantity of knowledge you have.
Indicatore Pine Script®
di alexgrover
40
Point and Figure (PnF) Weis Wave VolumeThis is live and non-repainting Point and Figure Chart Weis Wave Volume tool. The script has it’s own P&F engine and not using integrated function of Trading View. Point and Figure method is over 150 years old. It consist of columns that represent filtered price movements. Time is not a factor on P&F chart but as you can see with this script P&F chart created on time chart. P&F chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify. This tool is based on the Weis Wave described by David H. Weis (a Wyckoff specialist). The Weis Waves Indicator sums up volumes in each wave. This is how we receive a bar chart of cumulative volumes of alternating waves and The cumulative volume makes the Weis wave charts unique. If there is no volume information for the security then this tool has an option to use “True Range” instead of volume . If you are new to Point & Figure Chart then you better get some information about it before using this tool. There are very good web sites and books. Please PM me if you need help about resources. Options in the Script Box size is one of the most important part of Point and Figure Charting. Chart price movement sensitivity is determined by the Point and Figure scale. Large box sizes see little movement across a specific price region, small box sizes see greater price movement on P&F chart. There are four different box scaling with this tool: Traditional, Percentage, Dynamic (ATR), or User-Defined 4 different methods for Box size can be used in this tool. User Defined: The box size is set by user. A larger box size will result in more filtered price movements and fewer reversals. A smaller box size will result in less filtered price movements and more reversals. ATR: Box size is dynamically calculated by using ATR, default period is 20. Percentage: uses box sizes that are a fixed percentage of the stock's price. If percentage is 1 and stock’s price is $100 then box size will be $1 Traditional: uses a predefined table of price ranges to determine what the box size should be. Price Range Box Size Under 0.25 0.0625 0.25 to 1.00 0.125 1.00 to 5.00 0.25 5.00 to 20.00 0.50 20.00 to 100 1.0 100 to 200 2.0 200 to 500 4.0 500 to 1000 5.0 1000 to 25000 50.0 25000 and up 500.0 Default value is “ATR”, you may use one of these scaling method that suits your trading strategy. If ATR or Percentage is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and box size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic box size (ATR or Percentage), box size changes only when closing price changed. Reversal : It is the number of boxes required to change from a column of Xs to a column of Os or from a column of Os to a column of Xs. Default value is 3 (most used). For example if you choose reversal = 2 then you get the chart similar to Renko chart. Source: Closing price or High-Low prices can be chosen as data source for P&F charting. There is only one option for Weis Wave Volume, “Use True Range (if no Volume info)” if you select this option and volume info is not avaliable then it uses “true range”, but if volume info is available, it never use true range. Default value is set to use true range.
Indicatore Pine Script®
di LonesomeTheBlue
7
Point and Figure (PnF) Moving Averages HistogramThis is live and non-repainting Point and Figure Chart Moving Average Histogram tool. The script has it’s own P&F engine and not using integrated function of Trading View. Point and Figure method is over 150 years old. It consist of columns that represent filtered price movements. Time is not a factor on P&F chart but as you can see with this script P&F chart created on time chart. P&F chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify. Moving averages on Point & Figure charts are based on the average price of each column while bar chart moving averages are based closing price. Average Price means (ClosePrice + OpenPrice) / 2. Because of there is double smoothing, you should use shorter lengths for moving averages. Double smoothing means: using average price smooths once, using length greater than 2 smooths price second time. If you are new to Point & Figure Chart then you better get some information about it before using this tool. There are very good web sites and books. Please PM me if you need help about resources. Options in the Script Box size is one of the most important part of Point and Figure Charting. Chart price movement sensitivity is determined by the Point and Figure scale. Large box sizes see little movement across a specific price region, small box sizes see greater price movement on P&F chart. There are four different box scaling with this tool: Traditional, Percentage, Dynamic (ATR), or User-Defined 4 different methods for Box size can be used in this tool. User Defined: The box size is set by user. A larger box size will result in more filtered price movements and fewer reversals. A smaller box size will result in less filtered price movements and more reversals. ATR: Box size is dynamically calculated by using ATR, default period is 20. Percentage: uses box sizes that are a fixed percentage of the stock's price. If percentage is 1 and stock’s price is $100 then box size will be $1 Traditional: uses a predefined table of price ranges to determine what the box size should be. Price Range Box Size Under 0.25 0.0625 0.25 to 1.00 0.125 1.00 to 5.00 0.25 5.00 to 20.00 0.50 20.00 to 100 1.0 100 to 200 2.0 200 to 500 4.0 500 to 1000 5.0 1000 to 25000 50.0 25000 and up 500.0 Default value is “ATR”, you may use one of these scaling method that suits your trading strategy. If ATR or Percentage is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and box size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic box size (ATR or Percentage), box size changes only when closing price changed. Reversal : It is the number of boxes required to change from a column of Xs to a column of Os or from a column of Os to a column of Xs. Default value is 3 (most used). For example if you choose reversal = 2 then you get the chart similar to Renko chart. Source: Closing price or High-Low prices can be chosen as data source for P&F charting. Options for P&F Bollinger Bands: MA Type: MA type can be EMA or SMA MA Source: Moving averages on P&F charts are based on the average price of each column. Bar chart moving averages are based on each close price. Average price means “(ClosePrice + OpenPrice) / 2”. You can choose Close Price or Average Price as source. Default is Average Price. Fast MA Length : Length of Fast Moving average, shorter length than Slow MA Slow MA Length : Length of Slow Moving average, greater length than Slow MA There are alerts when Fast MA Crossed over/under Slow MA conditions. While adding alert “Once Per Bar Close” option should be chosen.
Indicatore Pine Script®
di LonesomeTheBlue
4