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IBS (Internal Bar Strength) Trading Strategy for SPY and NDQImplementation by AlgoTradeKit Overview The IBS Trading Strategy is a daily bars long-only trading system, based on the concept of Internal Bar Strength (IBS). The strategy aims to identify potential reversals by monitoring how the previous bar’s close positions itself within its high-low range. It is suitable for stock and US indices. The default parameters are optimized for SPY/SPX and NDQ/QQQ Strategy Concept The Internal Bar Strength (IBS) is calculated using the formula: IBS = (Previous Close - Previous Low) / (Previous High - Previous Low) This value always lies between 0 and 1. An IBS value below 0.2 is typically interpreted as an oversold condition, while a value above 0.9 suggests an overbought state. Trading Rules - Long Entry : - Condition 1 : IBS is below the user-defined entry threshold (default is 0.2). - Condition 2 : The current price is above an N-period Exponential Moving Average (EMA) (default period is 252). - Note : You can disable the EMA condition by setting the EMA period to 0. - Long Exit - The position is closed when IBS rises above the user-defined exit threshold (default is 0.9). Customization Options - IBS Entry Threshold : Adjust to set the sensitivity for entering a long trade based on oversold conditions. - IBS Exit Threshold : Customize to define the exit point when the market becomes overbought. - EMA Period : Set the lookback period for the EMA to align with your trend bias; disable this condition by setting the period to 0. Risk Management & Trading Considerations - Designed for daily charts, the strategy captures higher timeframe trends and minimizes noise. - The entry and exit conditions are straightforward, aiming to avoid over-trading while letting clear signals dictate trade management. - Always use proper risk management techniques and test the strategy thoroughly on historical data and in a simulated environment before applying it in live markets. Disclaimer This strategy is for educational and informational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consider your risk tolerance before making any trades.
Strategia Pine Script®
di Algotradekit
3
ORB Heikin Ashi SPY 5min Correlation StrategyOverview: The ORB (Opening Range Breakout) strategy combined with Heikin Ashi candles and Relative Volume (RVOL) indicator aims to capitalize on significant price movements that occur shortly after the market opens. This strategy identifies breakouts above or below the opening range, using Heikin Ashi candles for smoother price visualization and RVOL to gauge the strength of the breakout. Components: Opening Range Breakout (ORB): The strategy starts by defining the opening range, typically the first few minutes of the trading session. It then identifies breakouts above the high or below the low of this range as potential entry points. Heikin Ashi Candles: Heikin Ashi candles are used to provide a smoother representation of price movements compared to traditional candlesticks. By averaging open, close, high, and low prices of the previous candle, Heikin Ashi candles reduce noise and highlight trends more effectively. Relative Volume (RVOL): RVOL compares the current volume of a stock to its average volume over a specified period. It helps traders identify abnormal trading activity, which can signal potential price movements. Candle for correlation : In this case we are using SPY candles. It can also use different asset Strategy Execution: Initialization: The strategy initializes by setting up variables and parameters, including the ORB period, session timings, and Heikin Ashi candle settings. ORB Calculation: It calculates the opening range by identifying the high and low prices during the specified session time. These values serve as the initial reference points for potential breakouts. For this we are looking for the first 30 min of the US opening session. After that we are going to use the next 2 hours to check for breakout opportunities. Heikin Ashi Transformation: Optionally, the strategy transforms traditional candlestick data into Heikin Ashi format for smoother visualization and trend identification. Breakout Identification: It continuously monitors price movements within the session and checks if the current high breaches the ORB high or if the current low breaches the ORB low. These events trigger potential long or short entry signals, respectively. RVOL Analysis: Simultaneously, the strategy evaluates the relative volume of the asset to gauge the strength of the breakout. A surge in volume accompanying the breakout confirms the validity of the signal. In this case we are looking for at least a 1 value of the division between currentVolume and pastVolume Entry and Exit Conditions: When a breakout occurs and is confirmed by RVOL and is within our session time, the strategy enters a long or short position accordingly. It does not have a stop loss or a takie profit level, instead it will always exit at the end of the trading session, 5 minutes before Position Sizing and Commissions: For the purpose of this backtest, the strategy allocated 10% of the capital for each trade and assumes a trading commission of 0.01$ per share ( twice the IBKR broker values) Session End: At the end of the trading session, the strategy closes all open positions to avoid overnight exposure. Conclusion: The combination of ORB breakout strategy, Heikin Ashi candles, and RVOL provides traders with a robust framework for identifying and capitalizing on early trends in the market. By leveraging these technical indicators together, traders can make more informed decisions and improve the overall performance of their trading strategies. However, like any trading strategy, it's essential to backtest thoroughly and adapt the strategy to different market conditions to ensure its effectiveness over time.
Strategia Pine Script®
di exlux
7
Stock Gaps SPY Correlation StrategyThis is daytrade stock strategy, designed to take the best out of the daily gaps that are forming between the close of previous day and opening of present day. At the same time its logic has been adapted for SPY chart, in order to use correlation with the other stocks/assets/ etf which are linked with SP500 movement. Lastly it has been added 2 new confirmation logics, based on the USI: advance/decline chart and percentage above vwap among all US stocks. The rules for entry are simple : We are at the opening daily candle, we have a long/short gap based on where the opening is happening and at the same time we are checking to see that the current different between the current difference between low and previous high (or viceversa) is higher than an established parameter(minimal deviation ) For exit, we exit based on time/clock parameter, in this case by default I selected 1h and half before close of the US session. For testing purposes I have used 10% of the available capital, with a 0.0035$ comission per each share bought ( IBKR comissions) If there are any questions, please let me know either here or in private !
Strategia Pine Script®
di exlux
SPY Trend-Based Buy Signals🔹 Overview This indicator identifies potential buy signals on any asset by combining MACD and Stochastic Oscillator crossovers, while using the SPY’s trend (via exponential moving averages) as a broader market filter. It helps traders stay aligned with macro momentum and avoid counter-trend entries. 🔍 How it works SPY Trend Filter (Daily Timeframe): Pulls SPY (S&P 500 ETF) data using EMAs (5, 20, 80) Categorizes SPY market trend with color codes: 🟢 Green: Strong uptrend (EMA5 > EMA20 > EMA80) 🟡 Yellow: Potential uptrend / early momentum (EMA5 < EMA20 > EMA80) 🔴 Red: Downtrend (EMA5 < EMA20 < EMA80) 🔵 Blue: Possible trend reversal or mixed trend (EMA5 > EMA20 < EMA80) Buy Signal Conditions (Combined Logic): A signal is only triggered when: - SPY trend is either yellow or blue (indicating a neutral-to-bullish or early recovery environment) -The Stochastic Oscillator's %D line is below 50, showing possible upside - A bullish MACD crossover occurs on the current symbol 🟢 Green signal: MACD crossover occurs below 0 (early reversal) 🟠 Orange signal: MACD crossover occurs above 0 (momentum continuation) 📈 Visual Output 🟢 Green label below the bar when an early reversal setup occurs 🟠 Orange label above the bar when a trend continuation signal appears ✅ Best Use Case Ideal for: Swing traders and position traders LEAPS (long-term options) traders aligning entries with SPY trend Anyone seeking clean, contextual entries filtered by market momentum ⚠️ Note: This indicator is most effective when used on fundamentally strong stocks that are sector leaders with solid earnings growth and market presence. Use technical signals as a complement to quality fundamentals. ℹ️ Clarification: The moving averages displayed on the chart (e.g., on QQQ) are for visual reference only, to help users understand the color logic of the SPY trend filter. The actual logic and signals are based on SPY’s moving averages, regardless of the charted symbol.
Indicatore Pine Script®
di Max-o-Flex
SPY vs VIX SMA Slope Alignment (Adjustable Days)Use this on VIX Chart only. This indicator compares the SLOPE of the daily SMA of SPY, to the SLOPE of the Daily SMA to VIX When SPY and VIX are trending UP for the length of time that you define, you will get a GREEN ARROW on the VIX chart showing that the condition has been met. EXAMPLE: Set 3 day SMA for VIX and SPY THEN Set Look back time to 2 days ---IF SPY 3day SMA AND VIX 3day SMA are both ASCENDING during any 3 day lookback period, a green indicator arrow will be showing on the VIX Chart DO NOT Use this indicator on SPY Chart (SPY and VIX have different daily open/close times. This indicator DOES NOT work propertly on SPY Chart. But it DOES work properly on VIX chart. )
Indicatore Pine Script®
di jmathews250
SPY Volume Weighted CloseHey everyone! Deciding to make this indicator public and open access. This is a volume weighted close indicator for SPY. It is a statistics based indicator. How it works: It uses volume data mixed with some price action data to prospectively predict where SPY's price will close within a 30 minute interval. As such, its different from other indicators in the sense that its not reactive, it proactive and actively predicts the price that SPY will see within the next 30 minutes and where SPY will most likely close at. It has 3 bands. The main centre band (blue, but colour can be changed) is the most likely price that SPY will close at within the next 30 minutes. The Upper Level Confidence and Lower Level Confidence bands are the expected range that the analysis thinks SPY will remain confined in based on current volume and price action. How to Use it: I personally use this in place of VWAP, but the applications are infinite. Take a look at the chart below: Applications: This is specifically programmed for SPY but I have used it with other stocks such as QQQ, UPRO and DIA. However, using it with those stocks, the upper and lower confidence bands are not helpful. But YMMV with other stocks. This is specifically designed for SPY. Let me know your questions and thoughts! Thanks for reading and checking this out!
Indicatore Pine Script®
di Steversteves
14
(SPY to ES) ETF→Futures Multi-Level (10 Levels + Select All)Converts selected ETF levels (SPY or QQQ) into equivalent futures levels (ES or NQ). Uses live price ratio between ETF and futures for real-time level translation. Supports 10 independent levels (A–J) with user-defined ETF price inputs. Provides checkboxes to toggle each level’s visibility or show all at once. Applies smoothing (ta.sma) to reduce noise from short-term price movement. Lets user customize each line’s color, width, and style (solid, dashed, dotted). Automatically updates lines as new bars form without user interaction. Uses persistent line objects to keep levels stable when scrolling or zooming. Adapts to either SPY→ES or QQQ→NQ depending on the “Convert SPY?” toggle. Draws clean horizontal lines without legend clutter for visual precision. SOME ONE PUBLISHED THIS FUNCTIONALITY FOR A CHARGE SO I MADE IT FREE. -rA
Indicatore Pine Script®
di vKnit
SPY, QQQ, VIX Status TableBased on Ripster EMA and 1 hour MTF Clouds, this custom TradingView indicator displays a visual trend status table for SPY, QQQ, and VIX using multiple timeframes and EMA-based logic to be used on any stock ticker. 🔍 Key Features: ✅ Tracks 3 symbols: SPY, QQQ, and VIX ✅ Multiple trend conditions: 10-min (5/12 EMA) Ripster cloud trend 10-min (34/50 EMA) Ripster cloud trend 1-Hour Multi-Timeframe Ripster EMA trend Daily open/close trend ✅ Color-coded trend strength: 🟩 Green = Bullish 🟥 Red = Bearish 🟨 Yellow = Sideways ✅ TO save screen space, customizations available: Show/hide individual rows (SPY, QQQ, VIX) Show/hide any trend column (10m, 1H MTF, Daily) Change header/background colors and font color Bold white top row for readability ✅ Auto-updating table appears on your chart, top-right This tool is great for active traders looking to quickly scan short-term and longer-term momentum in key market instruments without having to go back and forth market charts.
Indicatore Pine Script®
di honeybeefo
3
SPY, QQQ, VIX - Multi TF Trend Table***CURRENTLY IN BACKTESTING PHASE*** This TradingView script creates a real-time multi-timeframe trend status table for SPY, QQQ, and VIX using the Ripster-style EMA cloud logic. 🔍 What It Shows: Current Price (1 Min): Live snapshot of each symbol. 10min Trend (5/12 EMA): Short-term momentum. 10min Trend (34/50 EMA): Intermediate-term direction. 1 Hour Trend: Higher timeframe trend. Daily Trend: Long-term trend using 5/12 and 34/55 EMA alignment. Each cell is color-coded: ✅ Green = Bullish ❌ Red = Bearish Yellow can be used for neutral if customized. ⚙️ How It Works: Uses request.security() to pull multi-timeframe EMA values for each symbol. Compares fast/slow EMAs to determine bullish or bearish alignment. The table is refreshed live and placed in a corner of your choice. ✅ Ideal For: Trend traders using Ripster EMA clouds SPY/QQQ/VIX correlation watchers Traders seeking real-time trend clarity across multiple timeframes
Indicatore Pine Script®
di honeybeefo
SPY 1 Minute Day TraderWhen scalping options, users are looking for where breakouts are going to occur instead of sitting thru areas choppy price action that drain delta and cause them to lose value even if price is up trending. This script tries to identify when a trend reversal is expected based on one minute price action on the SPY. It alerts users to prepare for potential breakout when 5 out of the 6 key optimized parameters are discovered by showing a white L or S. Once all six trigger, it informs the user at the close of that candle with a golden triangle with Pivot Up or Pivot Down. As scalping options is something that is expected to be short in duration, a take profit and stop loss of 30 cents of price actions is established. If five or more parameters occur after the pivot is initiated, then stop losses and take profits are adhered to; however, if there are less, then it waits to take profit or stop the trade, as likely it is just noise and it will finish trend with an additional breakout. This script has been created to take into account how the following variables impact trend for SPY 1 Minute: ema vs 13 ema : A cross establishes start of trend MACD (Line, Signal & Slope) : If you have momentum ADX : if you are trending RSI : If the trend has strength The above has been optimized to determine pivot points in the trend using key values for these 6 indicators bounce up = ema5 > ema13 and macdLine < .5 and adx > 20 and macdSlope > 0 and signalLine > -.1 and rsiSignal > 40 bounce down = ema5 < ema13 and macdLine > -.5 and adx > 20 and signalLine < 0 and macdSlope < 0 and rsiSignal < 60 White L's indicate that 5 of 6 conditions are met due to impending uptrend w/ missing one in green below it Yellow L's indicate that 6 of 6 conditions still are met White S's indicate that 5 of 6 conditions are met due to impending downtrend w/ missing condition in red above it Yellow S's indicate that 6 of 6 conditions still are met After a downtrend or uptrend is established, once it closes it can't repeat for 10 minutes Won't open any trades on last two minutes of any hours to avoid volatility Will close any open trades going into last minute of hour to avoid large overnight random swings.
Strategia Pine Script®
di fbearman2000
52
SPY DXY VIX MonitorIf you like to monitor DXY and VIX while trading SPY this tool is for you. It gives you the price of all three and the direction they are going based on a smoothed derivative. This should help you make trading decisions based on this strategy of monitoring the three much easier as you get a small box on your chart. You can change the location of this on your chart to! I know its a small release but I hope you can find great use with this!
Indicatore Pine Script®
di The_Peaceful_Lizard
1
SPY Option returns calculations This script allows you to calculate returns on double butterfly options, specifically for 0 DTE and 1 DTE(days to expiration) for options that have expiration on Monday, Tuesday and Friday(Mostly SPY). The script is bi-directional, meaning it will calculate the returns on a put and call butterfly simultaneously, not just a put or just a call butterfly. The script was developed to calculate how much return could be made on opening a double butterfly option by opening a position right at the open of the day on a 0 DTE option. The script rounds the price up or down to the nearest strike price at open. From there you would need to chose how far to select your options from the opening strike price. You would also need to select how many contracts you would like to open, negative - is selling an option positive + is buying an option. As an example the script is defaulted to a 0,2,4 strike position with buying 1 contract at the 0, selling 3 contracts at the +/- 2 strike and selling 2 contracts at the +/- strike. The default is set to an unbalanced double butterfly as it allows a better credit collection than a standard butterfly. To change to a standard butterfly change the # of contracts to 1 -2 and 1 respectively. The script defaults a return of 0 on Tuesdays and Thursdays as there are no 0 DTE options available on those days. If you have questions about script ask ... if you have questions about options ... the answers will likely take too much time to answer.
Indicatore Pine Script®
di tonycsa
Relative Strength (Volatility Adjusted)The volatility adjusted relative strength indicator offers a more precise approach to traditional RS indicators by incorporating volatility adjustments into its calculations. This will provide traders with a more nuanced view of relative performance between a selected instrument and a comparison index. Identifying Relative Strength (RS) and Weakness (RW) against a benchmark like the SPY is crucial for traders, as it highlights institutional activity in an equity, which retail traders rarely achieve on their own. However, the traditional method of simply comparing the rate of change of a stock to the rate of change for the SPY can be flawed. This method often fails to account for the inherent volatility of each stock, leading to misleading RS/RW readings. Consider two stocks that both move in response to SPY's movements. If SPY moves significantly more than its average (measured by its ATR), and the stock does the same, traditional RS calculations might show strength when, in fact, the stock is just mirroring SPY's increased volatility. For instance, if SPY typically moves $0.25 an hour but suddenly moves $1, and a stock typically moves $0.50 but moves $2, the stock's apparent RS might be overstated, when in reality there is no relative strength for the stock. By adjusting for volatility using the ATR (Average True Range), we normalize these movements and get a clearer picture of true RS/RW. For example, if SPY moves 5 times its average rate and a stock moves the same multiple of its own ATR, the RS should be considered neutral rather than strong. Similarly if a stock in absolute terms moves $1 while the SPY also moves $1 but the stock usually moves at twice the rate of the SPY, the stock should be considered relatively weak - not neutral. Usage Use this to identify stocks with actual strength or weakness compared to the market. When the RS line is above 0 and above the moving average it indicates a stock with relative strength that is still gaining more strength. When the RS line is above 0 but above the moving average it indicates a stock with relative strength that is currently losing strength. When the RS line is below 0 and below the moving average it indicates a stock with relative weakness that is still losing strength. When the RS line is below 0 but above the moving average it indicates a stock with relative weakness that is starting to gain back some strength.
Indicatore Pine Script®
di mattishenner
9
Stock vs SPY % ChangeStock vs SPY % Change Indicator This Pine Script indicator helps you compare a stock's price performance to the S&P 500 (using SPY ETF) over a user-defined period. It calculates the percentage price change of the stock and SPY, then displays the difference as a relative performance metric. A positive value (plotted in green) indicates the stock is outperforming SPY (e.g., dropping only 3% while SPY drops 10%), while a negative value (plotted in red) shows underperformance. Features: Adjustable lookback period (default: 20 days) to analyze recent performance. Visual plot with green/red coloring for quick interpretation. Zero line to clearly separate outperformance from underperformance. How to Use: Apply the indicator to your stock's chart. Set the "Lookback Period" in the settings (e.g., 20 for ~1 month). Check the plot: Green (above 0) = Stock's % change is better than SPY's. Red (below 0) = Stock's % change is worse than SPY's. Use on daily or weekly charts for best results. Ideal for identifying stocks that hold up better during market downturns or outperform in uptrends. Perfect for relative strength analysis and to spot accumulation.
Indicatore Pine Script®
di Mindahoy
Rolling Beta against SPY📈 Pine Script Showcase: Rolling Beta Against SPY Understanding how your favorite stock or ETF moves in relation to a benchmark like the S&P 500 can offer powerful insights into risk and exposure. This script calculates and visualizes the rolling beta of any asset versus the SPY ETF (which tracks the S&P 500). 🧠 What Is Beta? Beta measures the sensitivity of an asset's returns to movements in the broader market. A beta of: - 1.0 means the asset moves in lockstep with SPY, - >1.0 indicates higher volatility than the market, - <1.0 implies lower volatility or possible defensive behavior, - <0 suggests inverse correlation (e.g., hedging instruments). 🧮 How It Works This script computes rolling beta over a user-defined window (default = 60 periods) using classic linear regression math: - Calculates daily returns for both the asset and SPY. - Computes covariance between the two return streams. - Divides by the variance of SPY returns to get beta. ⚙️ Customization You can adjust the window size to control the smoothing: - Shorter windows capture recent volatility changes, - Longer windows give more stable, long-term estimates. 📊 Visual Output The script plots the beta series dynamically, allowing you to observe how your asset’s correlation to SPY evolves over time. This is especially useful in regime-change environments or during major macroeconomic shifts. 💡 Use Cases - Portfolio construction: Understand how your assets co-move with the market. - Risk management: Detect when beta spikes—potentially signaling higher market sensitivity. - Market timing: Use beta shifts to infer changing investor sentiment or market structure. 📌 Pro Tip: Combine this rolling beta with volatility, Sharpe ratio, or correlation tracking for a more robust factor-based analysis. Ready to add a layer of quantitative insight to your chart? Add the script to your watchlist and start analyzing your favorite tickers against SPY today!
Indicatore Pine Script®
di coffee-man
SPY200SMA (+4%/-3%) TQQQ/QQQ STRATEGYSummary of the Improved Strategy: When the price of AMEX:SPY is +4% above the 200SMA BUY NASDAQ:TQQQ and when the price of SPY drops to -3% under the SPY 200SMA SELL everything and slowly DCA into NASDAQ:QQQ over the next 6-12 months or until price returns to +4% above the SPY 200SMA at which point you will go back into 100% TQQQ. Note: (if the price of QQQ goes 30% above the 200SMA of QQQ deleverage to QQQ or Sell to protect yourself from dot com level event) More info and stats -https://www.reddit.com/r/LETFs/comments/1nhye66/spy_200sma_43_tqqqqqq_long_term_investment/
Strategia Pine Script®
di freefighter07
2
Economic Crises by @zeusbottradingEconomic Crises Indicator by @zeusbottrading Description and Use Case Overview The Economic Crises Highlight Indicator is designed to visually mark major economic crises on a TradingView chart by shading these periods in red. It provides a historical context for financial analysis by indicating when major recessions occurred, helping traders and analysts assess the performance of assets before, during, and after these crises. What This Indicator Shows This indicator highlights the following major economic crises (from 1953 to 2020), which significantly impacted global markets: • 1953 Korean War Recession • 1957 Monetary Tightening Recession • 1960 Investment Decline Recession • 1969 Employment Crisis • 1973 Oil Crisis • 1980 Inflation Crisis • 1981 Fed Monetary Policy Recession • 1990 Oil Crisis and Gulf War Recession • 2001 Dot-Com Bubble Crash • 2008 Global Financial Crisis (Great Recession) • 2020 COVID-19 Recession Each of these periods is shaded in red with 80% transparency, allowing you to clearly see the impact of economic downturns on various financial assets. How This Indicator is Useful This indicator is particularly valuable for: ✅ Comparative Performance Analysis – It allows traders and investors to compare how different assets (e.g., Gold, Silver, S&P 500, Bitcoin) performed before, during, and after major economic crises. ✅ Identifying Market Trends – Helps recognize recurring patterns in asset price movements during times of financial distress. ✅ Risk Management & Strategy Development – Understanding how markets reacted in the past can assist in making better-informed investment decisions for future downturns. ✅ Gold, Silver & Bitcoin as Safe Havens – Comparing precious metals and cryptocurrencies against traditional stocks (e.g., SPY) to analyze their performance as hedges during economic turmoil. How to Use It in Your Analysis By overlaying this indicator on your Gold, Silver, SPY, and Bitcoin chart (for example), you can quickly spot historical market reactions and use that insight to predict possible behaviors in future downturns. ⸻ How to Apply This in TradingView? 1. Click on Use on chart under the image. 2. Overlay it with Gold ( OANDA:XAUUSD ), Silver ( OANDA:XAGUSD ), SPY ( AMEX:SPY ), and Bitcoin ( COINBASE:BTCUSD ) for comparative analysis. ⸻ Conclusion This indicator serves as a powerful historical reference for traders analyzing asset performance during economic downturns. By studying past crises, you can develop a data-driven investment strategy and improve your market insights. 🚀📈 Let me know if you need any modifications or enhancements!
Indicatore Pine Script®
di zeusbottrading
Daily SPY PlanThe Daily SPY Plan indicator is a technical analysis tool designed to provide traders with a visual representation of price levels and take profit points for the SPY (S&P 500 ETF) on a daily timeframe. This indicator utilizes the Average True Range (ATR) to calculate projected price levels and take profit points, aiding traders in identifying potential breakout and profit-taking opportunities. Indicator Description: The indicator is written in Pine Script, specifically for use on the TradingView platform. It plots several levels on the price chart, each representing a potential breakout or take profit point. The levels are determined based on a fraction of the ATR added or subtracted from the closing price. The fractions used are 0.25, 0.5, 0.75, 1.0, 1.25, and 1.5 times the ATR. The indicator distinguishes between breakout levels and take profit levels using different colors. Breakout levels, which indicate potential entry or exit points, are displayed in green, while take profit levels are shown in gray. Key Features and Use: ATR Calculation: The indicator calculates the Average True Range (ATR) using a specified length (default value of 14). ATR is a measure of market volatility and represents the average range between the high and low prices over a specific period. Projected Price Levels: The indicator plots several projected price levels above and below the closing price. These levels are calculated by adding or subtracting a fraction of the ATR from the closing price. Traders can use these levels as potential breakout points or areas to set stop-loss orders. Take Profit Points: The indicator also plots take profit points at specific levels above and below the closing price. These levels are designed to help traders identify potential areas to secure profits or partially exit their positions. Visual Representation: The indicator utilizes step-like lines to plot the projected price levels and take profit points, providing a clear visual representation on the price chart. Traders can easily identify the relevant levels and incorporate them into their trading strategies. Customizability: The indicator allows traders to customize the ATR length and choose whether to display Fibonacci levels (although there are no Fibonacci calculations in the provided code). These customization options enable traders to adapt the indicator to their preferred trading style and timeframe. Limitations and Considerations: Complementary Analysis: The Daily SPY Plan indicator should be used as a complementary tool alongside other technical analysis techniques and indicators. It provides price levels and take profit points based on ATR calculations, but it doesn't incorporate additional market factors or trading strategies. Timeframe Suitability: The indicator is specifically designed for the daily timeframe of the SPY. Traders should consider adjusting the parameters and adapting the indicator if using it on different timeframes or instruments. Risk Management: While the indicator suggests potential breakout and take profit points, it does not provide explicit stop-loss levels or risk management parameters. Traders should incorporate appropriate risk management techniques to protect their capital. Conclusion: The Daily SPY Plan indicator is a valuable technical analysis tool for traders focusing on the SPY ETF and the daily timeframe. By utilizing the ATR, it helps traders identify potential breakout levels and take profit points. However, traders should remember that this indicator is just one piece of the puzzle and should be used in conjunction with other technical analysis tools and risk management strategies to make informed trading decisions.
Indicatore Pine Script®
di Kill_Streak
2
S&P 500 E-Mini TrackerThis script generates a reference price for the S&P 500 ETF - SPY based on the current price of the ES contract, which is an E-Mini Futures contract representing the S&P 500 index. The indicator plots this reference price on the chart, providing a unique view of the relationship between these two popular markets. Advantages: Identifies divergence between the ES and SPY prices, indicating potential trading opportunities or shifts in market sentiment. Confirms trends by showing the correlation between the ES and SPY prices. Eliminates the need for multiple charts, allowing traders to focus on a single screen and make more informed decisions. Customizable Parameters: Color Scheme: Choose from various color options to customize the appearance of the indicator. Line Style: Select from different line styles to change the visual representation of the reference price. Divisor: Set the dividing factor to adjust the ratio at which the reference price is calculated. (Default value: 10). It is recommended to keep it at 10 for SPY. To use it with other Stocks/ ETFs, use simple ratio math to calculate the divisor and you can customize the indicator to scale accordingly. By using this indicator, traders can gain a deeper understanding of the relationship between the E-Mini and SPY markets, making it easier to identify trading opportunities and confirm trends.
Indicatore Pine Script®
di SnowflakeTrader