Intraday FIB ScalpingThe Intraday Fibonacci Levels Indicator is a powerful tool designed to enhance trading decisions in intraday markets. Leveraging the dynamic nature of Fibonacci retracement levels, this indicator utilizes the high and low prices observed within the first 15 minutes of the trading session to plot key levels and establish potential entry and exit zones.
Key Features:
Automatic Calculation: The indicator swiftly calculates Fibonacci retracement levels based on the highest high and lowest low recorded during the initial 15 minutes of the trading day. This ensures a quick and accurate representation of potential support and resistance levels.
Zone Marking for Precision: The indicator marks specific zones on the chart, providing traders with clear visual cues for potential entry and exit points. These zones are strategically aligned with Fibonacci levels, offering a systematic approach to decision-making.
User-Friendly Interface: With a user-friendly interface, the Intraday Fibonacci Levels Indicator is suitable for both novice and experienced traders. The intuitive design allows for easy interpretation of signals and levels.
By harnessing the power of Fibonacci retracement levels and incorporating them into an intraday context, this indicator empowers traders with a systematic and data-driven approach to decision-making. Whether identifying entry points, setting stop losses, or planning exit strategies, the Intraday Fibonacci Levels Indicator serves as a valuable ally in navigating the complexities of intraday trading.
How to Trade using these Levels?
With this indicator, you can see all the levels between whole number and its corresponding 0.272 were highlighted. That is where we need to look for intraday trade entry. If any of the level broken on either side and the bar closes below ore above the highlighted area, we should enter the trade in that direction with immediate next FIB level as TP1 and subsequent level as TP2. And, an opposite directional close above or below the highlighted level will be considered as stop loss exit.
We prefer to trade in 3 minutes or 5 minutes timeframe for intraday trading.
How we plot the levels?
We are incorporating ORB into Fibonacci to plot intraday trading levels. We use high and low of first 15 minutes candle of each new trading session to arrive the levels for that session.
When market is trading above or below initially plotted levels, user can extend the levels by enabling extentions provided in user settings
Cerca negli script per "session"
Opening Range & Prior Day High/Low [Gorb]Introduction:
Opening Range & Prior Day High/Low indicator is an easy to use day traders tool. This indicator automatically plots the previous days high and low, as well as drawing a box from the opening range that the user specifies in the settings. These two together can help provide an indication of market sentiment and price trends for the day. They are often used as a trading strategy for day traders.
Overview:
The Opening Range , draws a box from the high to the low of the user defined time period and is extended until the end of the trading session. Most common are the 5/15/30min opening ranges.
Prior Day High/Low , draws lines from the previous days high and low that extend across the current session. These are used as support/resistance and also a marker to see market sentiment by crossing one of these levels.
The indicator is designed for all kinds of traders, offering a simple approach to automatically plot levels for you.
Features:
All skill-level friendly presets, easy to enable with one-click
Opening Range: Allows user to choose what time the range starts and ends to measure the high & low.
Extend Range Lines: allows the user to choose when the box stops extending according to the trading session time.
Enable Opening Range Box: allows the user to choose to plot the opening range or not.
ORB Border Color: allows the user to change the box border color.
ORB Box Shade Color: allows the user to change the background of the opening range box.
ORB Line Width: allows users to chose the width of the opening range box lines.
Enable Previous Day High: allows users to enable the previous days high to be plotted.
Enable Previous Day Low: allows users to enable the previous days high to be plotted.
Previous Day High Color: allows users to choose the color for this line.
Previous Day Low Color: allows users to choose the color for this line.
All colors are changeable for the user to customize to their liking.
Usage Demonstration
In the image below, we can see a basic example of how these 3 features function.
As explained above, the opening range is customizable to meet the users needs and can be disabled with one click. Same goes for the prior day high(green) and low(red) lines. All 3 are plotted each day automatically for the user if enabled.
In the image below, we can see an example of using the opening range break and prior day high together for a trading strategy.
This is a great example of using the prior day high with the opening range to use as a day trading strategy. It provides the trader with levels to watch for price to break out from for possible trade setups.
In this next image, we can see a failed breakdown from the opening range that results in a bullish breakout.
The first move was a fake breakdown with the failed rejection on the retest of the opening range lows. This led to a breakout above the range and a confirmation bounce on the breakout retest. Price did break above the prior day high and confirmed with a retest bounce on that level as well.
In the image below, we can see how previous days levels can act as resistance to use with the opening range.
Price didn't reject the opening range low, but it did reject the prior day high for the second time. This could be used as an entry or once price breaks down out of the opening range again.
Conclusion:
We believe in providing user-friendly tools to help speed up traders technical analysis and implement easy trading strategies. The goal is to provide a user-friendly indicator to automatically draw opening ranges and previous days levels to suit the users needs and trading style.
RISK DISCLAIMER
All content, tools, scripts & education provided by Monstanzer or Gorb Algo LLC are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
j trader ModelAn indicator designed to trade indices using the jtrader model and ICT concepts.
jtrader Model:
Below are the key points to trade this model:
Power of 3 is the key element of this model.
Accumulation during pre NY open.NY Open represents 9:30am opening of NY Stock Exchange.
Manipulation(JUDA) immediately after NY open. Juda is a manipulated move by the indices after the session open.
Distribution as a reversal with BOS ,Heatmap preferably during Macros. Distribution is market phase where it moves towards its original expansion during macros. Macros are 20 minute time windows where indices give moves with strong force. Heatmap represent kis point of interests for the trade.
Indicator Features:
Creates a complete window of trading with key elements needed to trade The jtrader Model.
Identify and marks key points of interests (POIs).
Identify and highlights key swing points of Sessions, Days, Weeks, True open etc.
Highlights the NY Open.
Highlights the Macros.
Indicator Settings:
Enable/Disable any POI marking.
Adjust session time ranges.
Adjust enabling of model poi marking time window.
Choose color of choice for highlighting the POI.
Enable/Disable Macros.
This indicator will gradually updated with new features to trade the jtrader model. Your feedback will help us improve and enhance this indicator.
[GTH decimals heatmap] (wide screen advised)Preface
I share my personal general view on indicators below; skip ahead to the Description below if you are not interested.
It is my personal conviction that most - if not all - indicators rely mainly on trader's belief that they work, and in a feedback system like free markets they might become a self-fulfilling prophecy as a result, if (!) a big part of the traders believes in it, because some famous trader releases an indicator, or such person's public statement goes viral.
One of those voodoo indicators is the famous "follow-through day". There is zero statistical evidence for its validity, beyond the validity of a statement like "If it's bright at day it's usually the sun shining". The uselessness was proven exactly on its inventor's YT channel, Investors Business Daily. According to the examiner, its inventor William J. O'Neil himself could not explain the values used for this indicator. It might have been an incidental observation at some point without general validity. A.k.a "curve fitting". Still, it's being used by many today.
Another one of those indicators is the three points reversal on the S&P 500 Volatility Index (VIX) which allegedly might potentially maybe indicate a possible shift in trend. Both indicators share an immediately problematic feature: They use absolute values. Nothing is ever absolute in a highly subjective and emotionally driven game like the markets where a lot of money can be made and lost.
Most indicators can not produce additional information since they can only re-pack price/volume action. Many times an interpretion of the distance between price and a moving average and/or the slope of a moving average deliver very similar - if not better - results than MACD, RSI etc., especially with standard settings, the origin of which are usually unknown (always a warning sign). Very few indicators can deliver information which is otherwise hard to quantify, e. g. market noise (Kaufman's Efficiency Ratio or Price Density) or volatility, standard deviation etc.
It is common knowledge that trading the markets is a game of probability. No indicator works all the time (or at all, see above). In order to make decisions based on any indicator, the probability for its validity and the conditions under which validity seemed to have occurred, must be known. Otherwise it is just coffee grounds reading under the illusion of adding to the edge, when in fact it is only adding to the trees, making it even harder to see the forest.
Description
A common belief is that whole or half-dollar prices tend to be attraction points in price action, so a number of traders include those into decision making. But are they really...?
Spoiler Alert:
Generally, it is safe to say that for the big majority of stocks there is very thin evidence for it. It depends vastly on the asset, the timeframe used and the market period (pre/post/main trading times). If at all, there seems to be an above random but still thin evidence for whole prices being significant attraction points. Interesting/surprising patterns are visible on many stocks/timeframes/session periods, though.
The screenshot shows TSLA, 30m timeframe, two heatmaps added. The top one shows pre/post-market data only, the bottom one main market data only. The cyan fields indicate the strongest occurrence, the dark blue fields indicate the weakest occurrence of open/high/low/close prices at the respective decimal. The red field indicates the current/last price decimal.
Clearly, TSLA displays a strong pre-market attraction for .00, followed by .33 and .67 and .50. This pattern of thirds seems to be a unique feature of TSLA. In the main trading session it is being diluted by a more random distribution.
Other interesting equities to examine:
SPY: No significant pattern on any timeframe!
META: Generally weak patterns on all timeframes, but interestingly on the 1D there is evidence for less randomness on O and H, more on L and most on C.
AAPL: 1D, foggy attraction areas around .35 and .12. Whole price is no attraction area at all! Very weak attraction around .73.
AMD: Strong pattern on D, W, M, attraction areas around 1/16th intervals. No patterns on lower timeframes.
AMZN: Significant differences between pre/post and main session. Strong 1/16th pattern below D in pre/post.
TAOP: Strong 1/5th pattern on all timeframes.
Read the tool tips and go explore!
Intraday Intensity ModesIntraday Intensity Index was created by David Bostian and its use was later featured by John Bollinger in his book "Bollinger on Bollinger Bands" . It is categorically a volume indicator and considered to be a useful tool for analyzing supply and demand dynamics in the market. By measuring the level of buying and selling pressure within a given trading session it attempts to provide insights into the strength of market participants' interest and their aggressiveness in executing trades throughout the day. It can be used in conjunction with Bollinger Bands® or other envelope type indicators as a complimentary indicator to aid in trying to identify potential turning points or trends.
Intraday intensity is calculated based upon the relationship between the price change and the volume of shares traded during each daily interval. It aims to capture the level of buying or selling activity relative to the overall volume. A high intraday intensity value suggests a higher level of buying or selling pressure, indicating a more active and potentially volatile market. Conversely, a low intraday intensity value indicates less pronounced trading activity and a potentially quieter market. Overall, intraday intensity provides a concise description of the intensity of trading activity during a particular trading session, giving traders an additional perspective on market dynamics. Note that because the calculation uses volume this indicator will only work on symbols where volume is available.
While there are pre-existing versions within community scripts, none were found to have applied the calculations necessary for the various modes that are presented within this version, which are believed to be operating in the manner originally intended when first described by Bostian and again later by Bollinger. When operating in default modes on daily or lower chart timeframes the logic used within this script tracks the intraday high, low, close and volume for the day with each progressing intraday bar.
The BB indicator was included on the top main chart to help illustrate example usage as described below. The Intraday Intensity Modes indicator is pictured operating in three different modes beneath the main chart:
• The top pane beneath the main chart shows the indicator operating as a normalized 21 day II% oscillator. A potential use while in this mode would be to look for positive values as potential confirmation of strength when price tags the upper or lower Bollinger bands, and to look for negative values as potential confirmation of weakness when price tags the upper or lower Bollinger bands.
• The middle pane shows the indicator operating as an "open ended" cumulative sum of II. A potential use while in this mode would be to look for convergence or divergence of trend when price is making new highs or lows, or while price is walking the upper or lower Bollinger bands.
• The bottom pane shows the indicator operating in standard III mode, which provides independent values per session.
Indicator Settings: Inputs tab:
Osc Length : Set to 1 disables oscillation, values greater than 1 enables oscillation for II% (Intraday Intensity percent) mode.
Tootip : Hover mouse over (i) to show recommended example Settings for various modes.
Cumulative : When enabled values are cumulatively summed for the entire chart and indicator operates in II mode.
Normalized : When enabled a rolling window of Osc Length values are summed and normalized to the rolling window's volume.
Intrabar : When enabled price range and volume are evaluated for intensity per bar instead of per day which is a departure from the original
concept. Whenever this setting is enabled the indicator should be regarded as operating in an experimental mode.
Colors For Up Down : Sets the plot colors used, may be overridden in Settings:Style tab.
Styles / Width : Sets the plot style and width used, may be overridden in Settings:Style tab.
This indicator is designed to work with any chart timeframe, with the understanding that when used on timeframes higher than daily the indicator becomes "IntraPeriod" intensity, for example on weekly bars it would be "IntraWeek" intensity. On Daily or lower timeframes the indicator operates as "IntraDay" intensity and is being updated on each bar as each day progresses. If the experimental setting Intrabar is enabled then the indicator operates as "IntraBar" intensity and is no longer constrained to daily or higher evaluations, for example with Intrabar enabled on a 4H timeframe the indicator would operate as "Intra4H" intensity.
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Volume DashboardReleasing Volume Dashboard indicator.
What it does:
The volume dashboard indicator pulls volume from the current session. The current session is defaulted to NYSE trading hours (9:30 - 1600).
It cumulates buying and selling volume.
Buying volume is defined as volume associated with a green candle.
Selling volume is defined as volume associated with a red candle.
It also pulls Put to Call Ratio data from the Ticker PCC (Total equity put to call ratios).
With this data, the indicator displays the current Buy Volume and the Current Sell Volume.
It then uses this to calculate a "Buyer to Seller Ratio". The Buy to Sell ratio is calculated by Buy Volume divided by Sell Volume.
This gives a ratio value and this value will be discussed below.
The Indicator also displays the current Put to Call Ratio from PCC, as well as displays the SMA.
Buy to Sell Ratio:
The hallmark of this indicator is its calculation of the buy to sell ratio.
A buy to sell ratio of 1 or greater means that buyers are generally surpassing sellers.
However, a buy to sell ratio below 1 generally means that sellers are outpacing buyers (0 buyers to 0.xyx sellers).
The SMA is also displayed for buy to sell ratio. Generally speaking, a buy to sell SMA of greater than or equal to 1 means that there are consistent buyers showing up. Below this, means there is inconsistent buying.
Change Analysis:
The indicator also displays the current change of Volume and Put to Call.
Put to Call Change:
A negative change in Put to Call is considered positive, as puts are declining (i.e. sentiment is bullish).
A positive change in Put to Call is considered negative, as puts are increasing (i.e. sentiment is bearish).
The Put to Call change is also displayed in an SMA to see if the negative or positive change is consistent.
Volume Change :
A negative volume change is negative, as buyers are leaving (i.e. sentiment is bearish).
A positive volume change is positive, as buyers are coming in (i.e. sentiment is bullish).
The volume change is also displayed as an SMA to see if the negative or positive change is consistent.
Indicator breakdown:
The indicator displays the total cumulative Buy vs Sell volume at the top.
From there, it displays the Ratio and various other variables it tracks.
The colour scheme will change to signal bearish vs bullish variables. If a box is red, the indicator is assessing it as a bearish indicator.
If it is green, it is considered a bullish indicator.
The indicator will also plot a green up arrow when buying volume surpasses selling volume and a red down arrow when selling volume surpasses buying volume:
Customization:
The indicator is defaulted to regular market hours of the NYSE. If you are using this for trading Futures, or trading pre-market, you will need to manually adjust the session time to include these time periods.
The indicator is defaulted to read volume data on the 1 minute timeframe. My suggestion is to leave it as such, even if you are viewing this on the 5 minute timeframe.
The volume data is best accumulated over the 1 minute timeframe. This permits more reliable reading of volume data.
However, you do have the ability to manually modify this if you wish.
As well, the user can toggle on or off the SMA assessments. If you do not wish to view the SMAs, simply toggle off "Show SMAs" in the settings menu.
The user can also choose what time period the SMA is using. It is defaulted to a 14 candle lookback, but you can modify this to your liking, simply input the desired lookback time in the SMA lookback input box on the settings menu. Please note, the SMA Length setting will apply to ALL of the SMAs.
That is the bulk of the indicator!
As always, let me know your questions or feedback on the indicator below.
Thank you for taking the time to check it out and safe trades!
Distribution DaysWhat is Distribution Day?
A distribution day is when a market representative index (for example, Nifty 50) loses more than 0.2 percent in a day, with volume higher than that of the previous session.
When a distribution day occurs, it hints that big institutional investors are exiting or reducing their positions in the market. Institutional activity is what moves any market, especially in India where retail participation is small.
How does it help in sensing market weakness?
When the market is in an uptrend, the intensity of market weakness is determined by the distribution day count. An investor keeps count of all valid distribution days (as per above definition) during an uptrend.
A distribution day count of 2-3 is benign and usually normal in an uptrend. But when the count goes to 5-6, one should prepare to get his/her positions trimmed.
Distribution Day Expiry:
ven though a distribution day hints that institutions may be liquidating their positions, it loses its impact after 25 trading sessions. A distribution day is also removed from the count after the index rallies 5 percent above that day’s close.
Time_FilterLibrary "Time_Filter"
Time filters for trading strategies.
f_isInWeekDay(_timeZone, _byWeekDay, _byMon, _byTue, _byWed, _byThu, _byFri, _bySat, _bySun)
f_isInWeekDay - Filter by week day or by time delimited session.
Parameters:
_timeZone : - Time zone to use when filter allowed trading by days of the week.
_byWeekDay : - Filter allowed trading time by days of the week.
_byMon : - Is Monday a trading day?
_byTue : - Is Tuesday a trading day?
_byWed : - Is Wednesday a trading day?
_byThu : - Is Thursday a trading day?
_byFri : - Is Friday a trading day?
_bySat : - Is Saturday a trading day?
_bySun : - Is Sunday a trading day?
Returns: series of bool whether or not the time is inside the current day.
f_isInSession(_timeZone, _bySession_1, _timeSession_1, _bySession_2, _timeSession_2)
f_isInSession - Is the current time with in the allowed trading session time.
Parameters:
_timeZone : - Time zone to use when filter allowed trading by days of the week.
_bySession_1 : - Filter allowed trading time with in hours defined in _timeSession_1
_timeSession_1 : - Hours with in trading is allowed.
_bySession_2 : - Filter allowed trading time with in hours defined in _timeSession_2
_timeSession_2 : - Hours with in trading is allowed.
Returns: series of bool whether or not the time is inside selected session.
f_isTradingAllowed(_timeZone, _byWeekDay, _byMon, _byTue, _byWed, _byThu, _byFri, _bySat, _bySun, _bySession_1, _timeSession_1, _bySession_2, _timeSession_2)
f_isTradingAllowed - Is the current time with in the allowed.
Parameters:
_timeZone : - Time zone to use when filter allowed trading by days of the week.
_byWeekDay : - Filter allowed trading time by days of the week.
_byMon : - Is Monday a trading day?
_byTue : - Is Tuesday a trading day?
_byWed : - Is Wednesday a trading day?
_byThu : - Is Thursday a trading day?
_byFri : - Is Friday a trading day?
_bySat : - Is Saturday a trading day?
_bySun : - Is Sunday a trading day?
_bySession_1 : - Filter allowed trading time with in hours defined in _timeSession_1
_timeSession_1 : - Hours with in trading is allowed.
_bySession_2 : - Filter allowed trading time with in hours defined in _timeSession_2
_timeSession_2 : - Hours with in trading is allowed.
Returns: series of bool whether or not trading is allowed at the current time.
CPR with Developing Pivot RangeThis Developing Pivot Range(DPR) made by Saravanan_Ragavan based on Pivot Boss Developing Pivot Range Concept. This indicator will show how the CPR is developing during the day. Also it shows how trend developing. range fills with green and widening in up trend, wise versa range fills with red and widening in down trend.
Pivot Boss described as following about this indicator:
The Developing Pivot Range (DPR) indicator dynamically calculates the central pivot range in real time as new data enters the market bar by bar. Essentially, this indicator allows you to see the “meat of the market” as the day’s trading activity is taking place. More importantly, however, the closing values for the indicator tell you where the central pivot range will be located for the following session, which paves the way for analyzing extremely important two-day pivot range relationships and key width characteristics. Having this information in advance allows us to prepare properly for the
upcoming session.
Note: Today Session end DPR become Tomorrow's CPR.
Hope this Helps you!
Volume Variation Index IndicatorThis tool is a quantitative tip for analysts who study volumes or create volume based trading strategies.
Like all our projects, we start with a statistical logic to which we add coding logic.
This indicator can save a huge amount of time in calculating the variation of volume between sessions .
How it work
The indicator calculates the difference between the volume of the last closing bar and the volume of the previous closing bar. It shows the difference between the trading volumes.
The session in which the trading volume is up are represented in green.
Red session represent trading volume down.
We have added a third function.
Through the User Interface the trader can activate or deactivate the variation average.
The indicator is able to calculate the average of the volume changes by representing it with a blue line.
To activate the average, simply set it to ON in the User Interface.
By default, the indicator calculates the average of the last 10 periods, but you are free to set this parameter in the User Interface.
Data access
To access the data, simply move the cursor. When you move the cursor over the green bars, the increase data will be displayed in green. By hovering the cursor over the red bars you will see the decrease data in red. By hovering the cursor over the average will show you the average data in blue.
The data is displayed in the top left corner of the indicator dashboard.
If you found this indicator helpful, please like our script.
DayTradingFutures Cross-StrategyOVERVIEW
This indicator was designed to help beginners use a cross over strategy that can be used for entries, exits and to for trend direction.
█ COMPONENTS
Here is a brief overview of the indicator:
Weighted Moving Averages
I find that by using a weighted moving average ( WMA ) to show a crossover, is very close to using a MACD signal line cross or using a RSI signal crossing over the 50/Mid Line. In my main strategy, I use the 5period (fast) and with the crossing of the 20period (slow) WMA for entries and the 50period WMA to show the short term trend. Please note, that I use the 50 period for day trading, if you are using a swing trade or plan on holding positions long term, a higher period may be preferred . All of the moving averages are customizable by color, length, and timeframe. **I feel comfortable trading this strategy at the 5min,10min, and 15min charts.
1 — 5 WMA- this is the white moving average closest to price and is the first part of our small cloud.
2 — 20 WMA - this is the yellow moving average and is the second part of or small cloud.
3 — 50 WMA - this is the directional trend.
Moving Average Clouds
The cloud (which is optional) appears when the trader should be looking to go Long or Sell Short. The dividing line is when both the 5 and 20 periods are over the 50 period.
Trade Management
This is a tool to help with setting your stop loss, break even, and target levels. Currently you can set these based on the current ATR ( Average True Range ).
The “Buy” and “Sell” signals are the ATR indicator based on your risk tolerance (fully customizable). Different ticker symbols will require different ATR values, please back test! When applying your stop loss, drag the stop line to small arrow of the signal callout.
Trading Session
The indicator was designed for beginners to trade during the New York Session (08:30 – 16:00 CST). However, the indicator will ONLY show signals AFTER opening and BEFORE close (09:00 – 14:30 CST). The reason for this is that there is greater volatility during the open and I do not recommend to be in a trade at the end of the session.
Buy and Sell Alerts
Alerts can also be set, when an entry can be made. This prevents a person from having to watch the charts for an extended period of time.
Faults of this strategy:
Time of RANGES/CONSOLIDATION periods and EXTREME VOLITITY KILLs this strategy!! Do not trade this strategy during these periods!!
Disclaimer:
NO strategy is 100% effective! I am not responsible for any loss trades or malfunctions of this code. I recommend to paper trade any new strategy before trading with real money! I am not a financial advisor, trading can be very risky!
MarketProfileHello All,
The said script plots MarketProfile of previous Session. Additional Feature is that we can plot Developing pocLine on realtime basis. The script plots Va High, Va Low and Point of Control of previous session, which becomes reference for tracking the price behavior in next session.
Hope this can be further developed to include the Characters on the chart. It provides ability to plot profile for different timeframes
The script has borrowed Ideas from @lonesometheblue, @juliusCrypto and @Ricardo Sanstos
Gap RiderThis Indicator allows you to make statistics on the performance of any underlying on the days in which an opening gap occurs.
Specifically, the indicator was designed for "0 dte" options trades. In fact, it is possible to find parameters that give a good statistical advantage by opening a spread in the direction of the gap, creating a trade that has a risk-return ratio of 1: 1.
The indicator shows flags on the graph (green in case of gap up, red in case of gap down) and colored boxes (green in case the stock closed in the direction of the gap, red in case the stock closed in the opposite direction to the gap, yellow in the event that the stock closed at a distance that did not allow the spread in options to close in maximum loss or maximum profit, and therefore in breakeven)
The statistics panel, on the other hand, contains all the information necessary to search for parameters that give the trader a good statistical advantage.
In the settings you can filter the days of the week, only gap up or only gap down, ATR thresholds (volatility), points or minimum percentage for which a gap is taken into account, measure of the breakeven (which for options traders should represent the half the width of the spread to open), large gaps filter that takes into consideration only gaps that open out of range compared to the previous session. The Lookback parameter of course is used to set how many bars to take into account for the statistics.
Parameters and recommended strategy:
TODAY 31/08/2021 - Lookback 500 bars (2 years)
UNDERLYING: SPX
FILTERS: only Monday and Wednesday, only gap up, only gap> 0.01%
STRATEGY: exactly at opening, cover an ATM spread in the direction of the gap (example: gap up, I open a long call spread) that has the opening price as a break even, with a risk-return ratio of 1: 1 and leave it open until closing session, or set take profit at 90-95%. It is advisable to take into consideration the SPX statistics but to operate on the ES future so as to be able to open the spread a couple of minutes before the opening of the cash session and prevent the trade from "running away" due to too sudden movements of the opening. .
RESULTS:
124 Trade
70% profitable trades
30% losing trades
Max drawdown 3 trades
So assuming a spread on ES 10 points wide, each trade would gain or lose $ 250, applying the described strategy we would have in two years, investing only $ 250, a profit of $ 12500, with a max drawdown of $ 750. We would therefore have a profit of 5000%, or rather 2500% per year on the invested capital, with a drawdown of a much lower proportion of the profit ($ 750 compared to $ 6250 of annual profit).
The strategy is infinitely scalable by increasing the options contracts used and the impact of the commissions is almost zero.
MONEY MANAGEMENT: Example on a 50K account, with a spread that earns or loses $ 500, in two years it earns $ 25,000, therefore about 12500 per year, with a max drawdown of $ 1500, therefore 25% per year on the ENTIRE ACCOUNT with a maximum drawdown of 3%.
Note: the test was performed without a break even parameter, so the actual result will be more moderate, but of the same explosive nature.
** BUG STILL LOOKING FOR SOLUTION **
only in case the filters are set to take into account ONLY the gap down, the drawdown count in the statistics panel shows an incorrect result "
ACD - Layers 1 & 2An implementation of layers 1 & 2 of ACD strategy of Mark Fisher, based on the book "The Logical Trader".
This implementation contains:
- OR lines
- A lines
- C lines
- Daily pivot range
- N days pivot range
- Customizable trading session
Strategy summary (This implementation):
There is 3 main concepts, each of which represented as two price levels.
1) OR (Opening Range) is the range of the first bar of the day. In other words, it's just "high - low" of the first resolution (usually 15min.) bar of the day. So, OR lines (Aqua color) visualize this range for each trading session.
As stated by Mark Fisher in his book, this range is meant to be a statistically significant range such that when price breaks the range in one direction, This is UNUSUAL to infiltrate it again AND break through the other side. So we can consider it as a potential enter signal (long or short).
2) A lines (Blue color) are drawn above and below OR lines with difference of 10% 0f 10 days ATR. The ATR period and the A multiplier (usually 10%) is customizable.
3) C lines (Gray color) are drawn above and below OR lines at 15% of 10 Days ATR difference. These lines help detecting AND confirming that UNUSUAL situation.
These concepts form the layer 1, which you can spot potential opportunities with it.
There is also two ranges to show support and resistance levels based on price action of previous days. Pivot ranges are rolling ranges that calculated and last for each day separately. They only differ in calculation period - the first one is daily (yellow color area) and the other one (red color area) is customizable, but is usually 3 or 5 days.
Each range consists of two price levels, valid for the current trading session. One of theme is HL2 , and the other one is "HLC3 + abs(HLC3 - HL2 )".
These two ranges, "Daily pivot range" and "N days pivot range", form the layer 2, which you can see them as two dynamic support/resistance ranges - one for daily, and the other for N days. They help filtering opportunities spotted from layer 1.
There is 2 more layers in the ACD strategy, which is omitted in this free implementation.
London breakout GBPUSD daytradeHello,
First I want to WARN THAT YOU NEED A MINIMUM OF 30X LEVERAGE FOR THIS STRATEGY IN ORDER TO WORK.
THE REASON IS THAT THE SIZE IS CALCULATED BASED ON A VERY SHORT STOP LOSS LEVEL IN PIPS
UTILIZE IT AT YOUR OWN RISK
This is a daytrading strategy, that's suited for GBPUSD 1H timechart.
It a very simple strategy that utilizes 2 moving averages : a very fast one and a very slow one.
It will always enter only at the beginning candle of London session, and it will always exit at the candle at the finish of London session.
So the rules are simple :
If its 8 am GMT and the candle close or high cross the slow moving average and we are above at the same over the slow moving average we make a long movement. The oposite condition is applied for short.
At the same time we always use a very small stop loss = 50-100 points ( 5-10 pips).
We dont have a take profit, in our case the trade ends always at the end of London session. In this case at 15h GMT
It might work on other currencies aswell, but it has to be tested first.
For any questions or suggestions, please let me know.
Money maker EURUSD 15min daytraderVERY IMPORTANT : THIS STRATEGY WAS MADE WITH LEVERAGE IN MIND
You need atleast 20X LEVERAGE ACCOUNT IN ORDER TO WORK PROPERLY.
With high rewards come high risk .
If you dont want to use leverage, use a risk % of less than 0.25 %.
The below example is without use of leverage on a capital 100.000 risking only 0.25% on each trade
This is a breakout strategy, initially made for EURUSD 15 min for London session.
Its made of 4 SMMA and 1 EMA
Rules for entry are simple :
For buy if our current closed candle is above all moving averages, and they are in ascending order ( 3 > 6 > 9 .... ) and we are in the London session we enter.
For sell the same, but in reverse. If closed candle is below all moving averages and they are in descending order ( 3< 6 < 9 .....) and we are in the London session.
We have a risk manangement with TP/SL.
For exit its either if we reach a tp/sl level, or we reach London finish time.
It also has a risk management, calculating the size based on the pips for SL and our current balance.
For any questions , let me know.
Responsive Linear Regression ChannelsThis is a linear trend indicator that can:
- automagically adjust to different chart resolutions
- snap to day/session boundaries on intraday
- totally not do the above and use ye olde good fixed lookback window
- show the regression trend and its RMSE channels
- disregard the trend and just show the period average and standard deviation lines (often acting as support and resistance)
The main idea was to allow you to quickly view linear trends for different time periods without having to calculate the required amount of bars.
By default, you will be able to quickly switch between 1-3 months, 6 months, 1 year, 2 years and 5 years of data, as well as various daily lookback periods.
Please adjust resolution settings to your liking.
Caveats:
- More data means more noise and slower calculations.
- HLC3 source is recommended, especially at resolutions above hourly.
- Trend will be slightly different if you use extended hours.
- If you use extended hours and don't have a data subscription, trend will be SUBSTANTIALLY different, especially at smaller resolutions like 1m.
- You might want to use 3.5 days per week for crypto (it's 7 days by default).
Known problems:
- If you can't see the trendlines, scroll to the left or zoom out - the origin could be outside of your viewport.
- Futures' sessions start on the previous day. We currently snap only to day boundaries, not session breaks.
- UVXY and the like that have extremely high price datapoints. The calculations will be wrong on some resolutions.
- Replay can freeze circa bar_index 244 — disable smart lookback and keep your window under 240 bars if you encounter this.
ACKNOWLEDGEMENTS:
Many thanks to alexgrover for his extremely efficient functions (used with permission)
Gap Filling Strategy Gaps are market prices structures that appear frequently in the stock market, and can be detected when the opening price is different from the previous closing price, this is why gaps are also called "opening price jumps". While gaps can occur frequently, some of them are more significant than others, and can be observed when looking at a long term chart.
The following strategy is based on the exploitation of significant gaps occurring during a new session, and posses various options that can return a wide variety of results.
Type Of Gaps And Occurence
I'am not a professional when it comes to gaps, but as you know the stock market close for the day, however it is still possible to place orders, your broker will hold them until the market open back. Once the market reopen the broker execute the pending orders, and when many orders where pending the market register really high volume and the price might differ from the precedent close.
Gaps are generally broken down into four types:
Common : Gaps occurring within a certain price range, mostly occurs during ranging markets.
Break Away : Gaps breaking a support and resistance, making a new higher high/lower low.
Runaway : Gaps occurring within a trend, followed by a continuation of the trend.
Exhaustion : Gaps occurring at the end of a trend, followed by a reversal.
As said before, some gaps are more significant than others, the significance of a gap can be determined by comparing the opening price with the previous high/low price and by looking at volume. Significant up gaps will have an opening price greater than the previous high, while significant down gap will have an opening price lower than the previous low with both high volume accompanying them.
After a gap, when the price go back to the point previous to the gap we say that it has been "filled", this characteristic is what will be exploited in this strategy.
Strategy Rules & Logic
In this strategy, the significance of a gap is determined by the position of the opening price relative to the previous high/low and make sure the bar following the gap don't fill it.
When the setting invert is set to false the strategy interpret the detected gaps as being exhaustion gaps, therefore when an up gap occur a short position is opened, when a down gap occur a long position is opened. When invert is set to true gaps are considered to be runaway or break away gaps, therefore the contrary positions are opened. Positions are exited when the gap has been filled, which in the chart is show'n when the price cross the red level who act as either a take profit (invert = false) or as a stop loss (invert = true).
There are various closing conditions available that the user can select from the "close when" setting.
New Session : This option close all previous positions when the market is in a new session.
New Gap : This option close all previous position when a new gap has been detected.
Reverse Position : This option close all previous position when a contrary position to the current one is opened. This option would reduce the number of trades.
Testing On Some Stocks
The analysis will be tested in different tech stocks with a main TF of 15 minutes with no spread and commissions applied. Default settings will be used. We'll be making our first analysis using AMD, who has recently formed a full reverse HS pattern, where the neckline has been crossed by the price. (by the way i have a bad feeling about it, hey ! feeling filling ! Lame jokes!)
Profit: $ -12.22
Trades: 272
Profitability: 65.07 %
We can see negative results, with an heavily decreasing balance. Using invert would return positive results.
We will now test the strategy on NVDA, the company is one of the biggest when it comes to the Gpu market.
Profit: $ -215.54
Trades: 297
Profitability: 60.27 %
Not better, using invert would of course create better results. Like AMD the balance is heavily decreasing.
Finally we will test the strategy on Seagate technology, a company mostly known for their mechanical hard drives.
Profit: $ -4.32
Trades: 261
Profitability: 65.9 %
Here the balance does not appear so heavily decreasing and even managed to reach back the initial balance before going down again.
Summary
A strategy based on gap filling has been briefly introduced and tested with 3 tech stocks. The results show that using invert option might be better. The advantage of this strategy against ones using technical indicators is that this one does not heavily depend on user settings, which make it way more efficient, this a big advantage of patterns based strategies.
Thx to LucF for helping with the "process_orders_on_close" element, since i had to use closing price i had to remove it tho, was afraid results would differ even more from a more realistic backtest. And thx for those who continuously support me, more cool stuff is coming up.
Thx for reading and i hope you'll have learned something new today !
FlashCardGroupCombined scripts to make it easier to place EMA and Session times on your chart. Anyone can use it and its open source or should be.
There are two configurations for EMA but labeled SMA and EMA. Each check box turns off 3 emas so if you only want 200 and 800 turn off the SMA check box.
Session times should be configured to your broker times when Asian, London or NYC sessions occur not local time.
Multi-Exchange Volume (30 Tickers) by kurtsmock + BV + rVolauthor: kurtsmock
Fully Customizable ticker set. Up to 30 Tickers. Bitcoin set as default.
-- IMPORTANT NOTE: --
30 Exchanges are a lot. It can take a while to load. You can fully customize this indicator to your liking. Here's how:
1. Load indicator
2. Open Settings
3. Uncheck the switch box for exchanges you want unincluded
4. At the bottom of the settings menu click "Defaults" and hit "Save as Default"
5. To turn them all back on, hit "Reset Settings" in that same "Defaults" menu and click "Save as Default" again.
Also, you don't have to use this with Bitcoin. This works with any asset, just change the ticker in the settings.
There's a lot going on with this indicator so the following is descriptions and instructions to help you better understand what's going on here. Thanks!
Goal:
- To provide a mechanism for assets on multiple exchanges to have their volume evaluated together
Edge:
- Having better and more complete volume information
Notes:
- The Default Exchanges for this indicator are highest volume bitcoin exchanges, but may contain "fake volume"
- Indicator is set for Bitcoin by default. However, you can change the tickers to reflect any asset you want
////// rVol //////
Goal:
- To understand how much volume is being executed relative to the same candle on previous days/periods
Edge:
- Higher rVol implies higher volatility and market interest.
- High rVol = higher than average volume . Markets move on volume so higher than average volume indicates increased market activity/volatility
- rVol is an indirect measure of active or anticipated volatility
Definitions:
- rVol: The volume of a period compared to the Average Volume of that same period in past sessions
- Important to note it does NOT add up the last 10 (default) candles, but rather the last 10 candles at session intervals.
- Example:
-- On a Tuesday, 1h chart it will add up the last ten Tuesday, 9:00 am candles, not including the current, active candle.
-- It then averages those lookback candles.
-- It then plots the percentage relationship between the most recent candle and the average of the lookback candles
-- Avg Vol of Lookback candles = 5000,
-- Volume of most recent candle = 4000: Output = rVol = 80:
-- Volume of most recent candle was 80% of the average volume in the 9 am time period of the last ten Tuesdays in the 9 am, 1h period
Notes:
- rVol does not add current candle volume into lookback sum. So, you set lookback to be: (not including the current day)
- rVol is on a switch. So, if you want to see rVol instead of volume, hit the switch in the settings
- If you want to see both, load 2 instances of the indicator.
////// Better-er Volume //////
Goal:
To Identify:
- When a candle closes at the highest volume * range relative to the lookback period and close > open
- When a candle closes at the highest volume * range relative to the lookback period and close < open
- When a candle closes at the highest volume / price relative to the lookback period
Edge:
- Identifies beginnings of price expansion, climax of price expansion, breakouts, pivots, and take profit points on the volume chart
Notes:
- Based generally on Barry Taylor's "Better Volume" indicator and ideas from Pascal Willain's book "Value in Time."
- Better-er Volume rules are applied to both Total Volume or rVol.
-- When rVol is displayed Better-er Volume is applied to rVol
-- When Total Volume is displayed Better-er Volume is applied to Total Volume
// Plot Key: //
Green Triangle Up = Often marks the beginning and/or end of price expansion to the upside
Red Triangle Up = Often marks the beginning and/or end of price expansion to the downside
Yellow Square = High Volume but Tight Range. Implies a Battle of Bulls and Bears. High Liquidity area. Provided Liquidity is not enough to move price. Thick Limit Order Book.
Purple Triangle Up or Down = Implies high market participation. Typically at the end of expansion when very significant s/r is hit
category: volume Volatility
tags: Volume rVol relativevolume Bitcoin cryptocurrency bettervolume
Many More Volume Indicators Coming Out Soon!
Previous Day Max 15-Mins Move High/LowIntroduction
This TradingView script is designed to help traders quickly identify significant price movement levels from the previous trading day based on the 15-minute time frame. It finds the largest high-to-low range of any 15-minute candle from the prior day and draws horizontal lines at those levels. These levels can help traders set potential support and resistance zones, aiding in intraday trading decisions and market analysis.
In many trading strategies, significant levels from previous sessions are crucial for determining potential support and resistance points. By identifying the largest price move from the prior day’s 15-minute candles, this script can highlight areas of market interest where volatility was at its highest. Traders can use these levels to:
Anticipate potential reversal points.
Plan entries and exits based on key support and resistance.
Gauge market sentiment by observing how the price reacts to these levels during the current session.
This can be especially valuable in fast-paced trading environments or when analyzing shorter time frames. The lines extend across all time frames, so you can use this script on higher time frames as well to see previous-day levels while zooming out.
Scalping Strategy By TradingConTotoScript Description: "Scalping Strategy By TradingConToto"
This scalping strategy is designed to trade in volatile markets, taking advantage of rapid price movements. It uses pivots to identify key entry and exit points, along with exponential moving averages (EMAs) to determine the overall trend.
Key Features:
Dynamic Pivots: Calculates pivot highs and lows to identify support and resistance zones, improving entry accuracy.
Market Trend Analysis: Utilizes a 100-period EMA for long-term trend analysis and a 25-period EMA for short-term trends, facilitating informed decision-making.
Automated Entry and Exit: Generates buy and sell signals based on EMA crossovers and specific market conditions, ensuring you don't miss opportunities.
Risk Management: Allows you to set take profit and stop loss levels tailored to market volatility, using the ATR for effective risk management.
User-Friendly Interface: Easily customize strategy parameters such as pivot range, stop loss and take profit pips, and spread.
Requirements:
Ideal for use on short time frames during high activity sessions, like the configured scalping session.
Activate buy and sell options according to your preference and analyze performance using TradingView’s tools.
Note:
This script is a tool and does not guarantee results. It is recommended to test in a simulated environment before applying it to real accounts.
Optimize your scalping operations and enhance your market performance with this effective strategy!
Dynamic Support & Resistance TrackerThe "Dynamic Support & Resistance Tracker" is a powerful Pine Script study designed to identify and visualize key support and resistance levels on a trading chart. This study dynamically adjusts to market conditions, providing traders with valuable insights for making informed trading decisions.
Key Features:
Dynamic Support & Resistance Lines:
The script identifies and plots support and resistance levels using pivot points based on a user-defined number of left and right bars.
Resistance lines are plotted in red, while support lines are plotted in blue, making it easy to distinguish between the two.
Toggle Breaks:
Users can choose to display or hide break signals for support and resistance levels using a simple toggle input.
Volume Threshold:
The study includes daily and weekly high and low calculations to provide a comprehensive view of market ranges.
Previous high and low lines are plotted for both daily and weekly timeframes, aiding in identifying potential breakout or breakdown levels.
Regular Market Hours:
The script defines regular market hours and tracks sessions, ensuring that support and resistance levels are relevant to active trading periods.
Midline and Extension Lines:
The study calculates and plots a midline between the previous high and low, along with extension lines above and below the range. These lines help identify potential target levels and extensions beyond the current range.
Real-time Updates:
The script ensures that all lines are updated in real-time, adjusting to new bars as they form. This dynamic feature keeps the levels relevant and accurate throughout the trading session.
Usage Instructions:
Adjust the number of left and right bars to define the sensitivity of the support and resistance levels.
Toggle the display of break signals to highlight significant breaks in support or resistance.
Monitor the daily and weekly high and low lines to understand the broader market context.
Utilize the midline and extension lines to set potential price targets and manage risk effectively.
This study provides traders with a robust tool for identifying and reacting to key market levels, enhancing their trading strategies with dynamic and real-time insights.
