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SuperTrend Momentum OscillatorOverview The SuperTrend Momentum Oscillator (SMO) is a powerful technical analysis tool designed to identify trend direction and strength in financial markets. It combines short-term and long-term oscillator calculations to provide traders with a comprehensive view of market conditions through an intuitive candle-based visualization system. Key Features Dual-period oscillator system (short-term and long-term) Candle-based visualization showing trend direction and alignment Color-coded trend direction based on the main (slower) trend line Candle size reflecting alignment between fast and slow components High-confidence "Super" signals (green diamonds for buys, purple diamonds for sells) Market liquidity insights through oscillator readings Understanding the Candle Visualization Main Trend vs. Fast Money The SMO uses two key components that work together: Main Trend Line (Slower): The longer-period oscillator that acts as the primary trend indicator Dictates the overall color of the candles (green for uptrend, red for downtrend) Represents the dominant market direction Fast Line (Quicker): The shorter-period oscillator that reacts more quickly to price changes Helps determine the size of candles through its alignment with the main trend Represents "fast money" or shorter-term price reactions Candle Components and Their Meaning 1. Candle Color The color of each candle is determined by the direction of the main trend line: Green Candles: Main trend line is rising (bullish) Indicates an overall uptrend regardless of short-term fluctuations Remains green even when the fast line temporarily moves against the trend Red Candles: Main trend line is falling (bearish) Indicates an overall downtrend regardless of short-term fluctuations Remains red even when the fast line temporarily moves against the trend 2. Candle Body Size The body size of each candle represents the alignment between fast and main trend lines: Large Bodies: Both fast and main trend lines are moving in the same direction Trading Action: Strong confirmation of the trend direction Confidence Level: High confidence signals Small Bodies: Fast line is moving against the main trend line Trading Action: Exercise caution; potential for temporary pullback or consolidation Confidence Level: Lower confidence in immediate continuation 3. Wick Length Wicks (shadows) provide additional information about price rejection and volatility: Long Wicks: Indicate price rejection and potential volatility Trading Action: Be cautious of trend continuation when long wicks appear Confidence Level: Reduced confidence in immediate trend continuation Short Wicks: Indicate strong directional control with minimal rejection Trading Action: More confidence in trend continuation Confidence Level: Higher confidence in the current trend direction Candle Patterns Over Time The progression of candles provides valuable trend information: Large Green Candles: Main trend is up and fast line confirms (strong bullish) Trading Action: Consider entering or adding to long positions Confidence Level: High confidence in uptrend Small Green Candles: Main trend is up but fast line is moving down (caution in uptrend) Trading Action: Hold existing long positions but wait before adding Confidence Level: Moderate confidence in uptrend, possible short-term pullback Large Red Candles: Main trend is down and fast line confirms (strong bearish) Trading Action: Consider entering or adding to short positions Confidence Level: High confidence in downtrend Small Red Candles: Main trend is down but fast line is moving up (caution in downtrend) Trading Action: Hold existing short positions but wait before adding Confidence Level: Moderate confidence in downtrend, possible short-term bounce Super Signals - High Confidence Trading Opportunities The SMO focuses exclusively on high-confidence "Super" signals: Green Diamond Super Buy Signals Meaning: Both short-term and long-term oscillators are generating buy signals simultaneously Visual Indicator: Green diamond markers at the bottom of the indicator (0 level) Trading Action: Strong entry signal for long positions Confidence Level: High confidence signal, especially when accompanied by large green candles Purple Diamond Super Sell Signals Meaning: Both short-term and long-term oscillators are generating sell signals simultaneously Visual Indicator: Purple diamond markers at the top of the indicator (100 level) Trading Action: Strong entry signal for short positions or exit signal for long positions Confidence Level: High confidence signal, especially when accompanied by large red candles Market Liquidity Concept The SMO provides a unique perspective on market conditions that goes beyond traditional oscillator interpretations: Low Oscillator Readings (Below 20) When the oscillator shows low readings (below 20), this indicates: Traditional interpretation: Market is oversold, potential for upward reversal Liquidity interpretation: Insufficient money in the market This suggests thin trading conditions where large orders may have outsized impact Price movements may be more erratic and less predictable Breakouts may lack follow-through due to insufficient participation High Oscillator Readings (Above 80) When the oscillator shows high readings (above 80), this indicates: Traditional interpretation: Market is overbought, potential for downward reversal Liquidity interpretation: Abundant money in the market This suggests deep trading conditions with high participation Price movements tend to be more orderly and trend-based Breakouts may have stronger follow-through due to high participation Trading Strategies with SMO Strategy 1: Main Trend with Alignment Confirmation This strategy uses the main trend direction with alignment confirmation: Entry Criteria: Main trend direction is established (green or red candles) Fast line aligns with main trend (large candles) Super signal confirms (green or purple diamond) Exit Criteria: For long positions: When candles turn red or Super Sell signal appears For short positions: When candles turn green or Super Buy signal appears Stop Loss Placement: For long positions: Below recent swing low For short positions: Above recent swing high Strategy 2: Counter-Trend Opportunity Detection This strategy identifies potential counter-trend opportunities: Entry Criteria: Small candles appear (indicating disagreement between fast and main trend lines) Oscillator reaches extreme levels (above 80 or below 20) Wait for candle color change before entering Position Sizing: Use smaller position sizes for counter-trend trades Increase size only when main trend confirms the new direction Exit Criteria: Take profit at the first sign of alignment in the opposite direction Use tighter stops than with trend-following trades Strategy 3: Market Liquidity Strategy This strategy incorporates the market liquidity concept: For Low Liquidity Conditions (Readings below 20): Wait for Super Buy signals (green diamond) Use smaller position sizes Be prepared for potentially erratic price movements Look for signs of increasing liquidity (expanding candle bodies) before adding to positions For High Liquidity Conditions (Readings above 80): Consider holding positions longer despite "overbought" readings Use trailing stops to capture extended moves Be aware that trends may persist longer than expected Practical Trading Scenarios Scenario 1: Strong Trend Confirmation Candle Pattern: Series of large green candles (main trend up, fast line confirms) Signal: Green diamond Super Buy marker at the bottom (0 level) Background: Intensifying green gradient Action: Enter long position with confidence Stop Loss: Below recent swing low Take Profit: When candles become small or turn red Scenario 2: Trend Weakening Detection Candle Pattern: Green candles becoming smaller (main trend still up, but fast line diverging) Signal: No new signals Background: Fading green gradient Action: Tighten stops on long positions, prepare for potential reversal Reasoning: Fast money is starting to move against the main trend Scenario 3: Trend Reversal Identification Candle Pattern: Transition from small green candles to red candles (main trend changing) Signal: Appearance of purple diamond Super Sell marker at the top (100 level) Background: Changing from green to red gradient Action: Exit long positions and potentially enter short positions Timing: Most effective when reversal occurs near overbought (80) level
Indicatore Pine Script®
di TheRealHawk
2
Supertrend and Fast and Slow EMA StrategyThis strategy combines Exponential Moving Averages (EMAs) and Average True Range (ATR) to create a simple, yet effective, trend-following approach. The strategy filters out fake or sideways signals by incorporating the ATR as a volatility filter, ensuring that trades are only taken during trending conditions. The key idea is to buy when the short-term trend (Fast EMA) aligns with the long-term trend (Slow EMA), and to avoid trades during low volatility periods. How It Works: EMA Crossover: 1). Buy Signal: When the Fast EMA (shorter-term, e.g., 20-period) crosses above the Slow EMA (longer-term, e.g., 50-period), this indicates a potential uptrend. 2). Sell Signal: When the Fast EMA crosses below the Slow EMA, this indicates a potential downtrend. ATR Filter: 1). The ATR (Average True Range) is used to measure market volatility. 2). Trending Market: If the ATR is above a certain threshold, it indicates high volatility and a trending market. Only when ATR is above the threshold will the strategy generate buy/sell signals. 3). Sideways Market: If ATR is low (sideways or choppy market), the strategy will suppress signals to avoid entering during non-trending conditions. When to Buy: 1). Condition 1: The Fast EMA crosses above the Slow EMA. 2). Condition 2: The ATR is above the defined threshold, indicating that the market is trending (not sideways or choppy). When to Sell: 1). Condition 1: The Fast EMA crosses below the Slow EMA. 2). Condition 2: The ATR is above the defined threshold, confirming that the market is in a downtrend. When Not to Enter the Trade: 1). Sideways Market: If the ATR is below the threshold, signaling low volatility and sideways or choppy market conditions, the strategy will not trigger any buy or sell signals. 2). False Crossovers: In low volatility conditions, price action tends to be noisy, which could lead to false signals. Therefore, avoiding trades during these periods reduces the risk of false breakouts. Additional Factors to Consider Adding: => RSI (Relative Strength Index): Adding an RSI filter can help confirm overbought or oversold conditions to avoid buying into overextended moves or selling too low. 1). RSI Buy Filter: Only take buy signals when RSI is below 70 (avoiding overbought conditions). 2). RSI Sell Filter: Only take sell signals when RSI is above 30 (avoiding oversold conditions). => MACD (Moving Average Convergence Divergence): Using MACD can help validate the strength of the trend. 1). Buy when the MACD histogram is above the zero line and the Fast EMA crosses above the Slow EMA. 2). Sell when the MACD histogram is below the zero line and the Fast EMA crosses below the Slow EMA. => Support/Resistance Levels: Adding support and resistance levels can help you understand market structure and decide whether to enter or exit a trade. 1). Buy when price breaks above a significant resistance level (after a valid buy signal). 2). Sell when price breaks below a major support level (after a valid sell signal). => Volume: Consider adding a volume filter to ensure that buy/sell signals are supported by strong market participation. You could only take signals if the volume is above the moving average of volume over a certain period. => Trailing Stop Loss: Instead of a fixed stop loss, use a trailing stop based on a percentage or ATR to lock in profits as the trade moves in your favor. => Exit Signals: Besides the EMA crossover, consider adding Take Profit or Stop Loss levels, or even using a secondary indicator like RSI to signal an overbought/oversold condition and exit the trade. Example Usage: => Buy Example: 1). Fast EMA (20-period) crosses above the Slow EMA (50-period). 2). The ATR is above the threshold, confirming that the market is trending. 3). Optionally, if RSI is below 70, the buy signal is further confirmed as not being overbought. => Sell Example: 1). Fast EMA (20-period) crosses below the Slow EMA (50-period). 2). The ATR is above the threshold, confirming that the market is trending. 3). Optionally, if RSI is above 30, the sell signal is further confirmed as not being oversold. Conclusion: This strategy helps to identify trending markets and filters out sideways or choppy market conditions. By using Fast and Slow EMAs combined with the ATR volatility filter, it provides a reliable approach to catching trending moves while avoiding false signals during low-volatility, sideways markets.
Indicatore Pine Script®
di darshakssc
SuperTrend with Chebyshev FilterModified Super Trend with Chebyshev Filter The Modified Super Trend is an innovative take on the classic Super Trend indicator. This advanced version incorporates a Chebyshev filter, which significantly enhances its capabilities by reducing false signals and improving overall signal quality. In this post, we'll dive deep into the Modified Super Trend, exploring its history, the benefits of the Chebyshev filter, and how it effectively addresses the challenges associated with smoothing, delay, and noise. History of the Super Trend The Super Trend indicator, developed by Olivier Seban, has been a popular tool among traders since its inception. It helps traders identify market trends and potential entry and exit points. The Super Trend uses average true range (ATR) and a multiplier to create a volatility-based trailing stop, providing traders with a dynamic tool that adapts to changing market conditions. However, the original Super Trend has its limitations, such as the tendency to produce false signals during periods of low volatility or sideways trading. The Chebyshev Filter The Chebyshev filter is a powerful mathematical tool that makes an excellent addition to the Super Trend indicator. It effectively addresses the issues of smoothing, delay, and noise associated with traditional moving averages. Chebyshev filters are named after Pafnuty Chebyshev, a renowned Russian mathematician who made significant contributions to the field of approximation theory. The Chebyshev filter is capable of producing smoother, more responsive moving averages without introducing additional lag. This is possible because the filter minimizes the worst-case error between the ideal and the actual frequency response. There are two types of Chebyshev filters: Type I and Type II. Type I Chebyshev filters are designed to have an equiripple response in the passband, while Type II Chebyshev filters have an equiripple response in the stopband. The Modified Super Trend allows users to choose between these two types based on their preferences. Overcoming the Challenges The Modified Super Trend addresses several challenges associated with the original Super Trend: Smoothing: The Chebyshev filter produces a smoother moving average without introducing additional lag. This feature is particularly beneficial during periods of low volatility or sideways trading, as it reduces the number of false signals. Delay: The Chebyshev filter helps minimize the delay between price action and the generated signal, allowing traders to make timely decisions based on more accurate information. Noise Reduction: The Chebyshev filter's ability to minimize the worst-case error between the ideal and actual frequency response reduces the impact of noise on the generated signals. This feature is especially useful when using the true range as an offset for the price, as it helps generate more reliable signals within a reasonable time frame. The Great Replacement The Modified Super Trend with Chebyshev filter is an excellent replacement for the original Super Trend indicator. It offers significant improvements in terms of signal quality, responsiveness, and accuracy. By incorporating the Chebyshev filter, the Modified Super Trend effectively reduces the number of false signals during low volatility or sideways trading, making it a more reliable tool for identifying market trends and potential entry and exit points. In-Depth Guide to the Modified Super Trend Settings The Modified Super Trend with Chebyshev filter offers a wide range of settings that allow traders to fine-tune the indicator to suit their specific trading styles and objectives. In this section, we will discuss each setting in detail, explaining its purpose and how to use it effectively. Source The source setting determines the price data used for calculations. The default setting is hl2, which calculates the average of the high and low prices. You can choose other price data sources such as close, open, or ohlc4 (average of open, high, low, and close prices) based on your preference. Up Color and Down Color These settings control the color of the trend line when the market is in an uptrend (up_color) and a downtrend (down_color). You can customize these colors to your liking, making it easier to visually identify the current market trend. Text Color This setting controls the color of the text displayed on the chart when using labels to indicate trend changes. You can choose any color that contrasts well with your chart background for better readability. Mean Length The mean_length setting determines the length (number of bars) used for the Chebyshev moving average calculation. A shorter length will make the moving average more responsive to price changes, while a longer length will produce a smoother moving average. It is crucial to find the right balance between responsiveness and smoothness, as a too-short length may generate false signals, while a too-long length might produce lagging signals. The default value is 64, but you can experiment with different values to find the optimal setting for your trading strategy. Mean Ripple The mean_ripple setting influences the Chebyshev filter's ripple effect in the passband (Type I) or stopband (Type II). The ripple effect represents small oscillations in the frequency response, which can impact the moving average's smoothness. The default value is 0.01, but you can experiment with different values to find the best balance between smoothness and responsiveness. Chebyshev Type: Type I or Type II The style setting allows you to choose between Type I and Type II Chebyshev filters. Type I filters have an equiripple response in the passband, while Type II filters have an equiripple response in the stopband. Depending on your preference for smoothness and responsiveness, you can choose the type that best fits your trading style. ATR Style The atr_style setting determines the method used for calculating the Average True Range (ATR). By default (false), it uses the traditional high-low range. When set to true, it uses the absolute difference between the open and close prices. You can choose the method that works best for your trading strategy and the market you are trading. ATR Length The atr_length setting controls the length (number of bars) used for calculating the ATR. Similar to the mean_length, a shorter length will make the ATR more responsive to price changes, while a longer length will produce a smoother ATR. The default value is 64, but you can experiment with different values to find the optimal setting for your trading strategy. ATR Ripple The atr_ripple setting, like the mean_ripple, influences the ripple effect of the Chebyshev filter used in the ATR calculation. The default value is 0.05, but you can experiment with different values to find the best balance between smoothness and responsiveness. Multiplier The multiplier setting determines the factor by which the ATR is multiplied before being added Super Trend Logic and Signal Optimization The Modified Super Trend with Chebyshev filter is designed to minimize false signals and provide a clear indication of market trends. It does so by using a combination of moving averages, Average True Range (ATR), and a multiplier. In this section, we will discuss the Super Trend's logic, its ability to prevent false signals, and the early warning crosses added to the indicator. Super Trend Logic The Super Trend's logic is based on a combination of the Chebyshev moving average and ATR. The Chebyshev moving average is a smooth moving average that effectively filters out market noise, while the ATR is a measure of market volatility. The Super Trend is calculated by adding or subtracting a multiple of the ATR from the Chebyshev moving average. The multiplier is a user-defined value that determines the distance between the trend line and the price action. A larger multiplier results in a wider channel, reducing the likelihood of false signals but potentially missing out on valid trend changes. Preventing False Signals The Super Trend is designed to minimize false signals by maintaining its trend direction until a significant change in the market occurs. In a downtrend, the trend line will only decrease in value, and in an uptrend, it will only increase. This helps prevent false signals caused by temporary price fluctuations or market noise. When the price crosses the trend line, the Super Trend does not immediately change its direction. Instead, it employs a safety logic to ensure that the trend change is genuine. The safety logic checks if the new trend line (calculated using the updated moving average and ATR) is more extreme than the previous one. If it is, the trend line is updated; otherwise, the previous trend line is maintained. This mechanism further reduces the likelihood of false signals by ensuring that the trend line only changes when there is a significant shift in the market. Early Warning Crosses To provide traders with additional insight, the Modified Super Trend with Chebyshev filter includes early warning crosses. These crosses are plotted on the chart when the price crosses the trend line without the safety logic. Although these crosses do not necessarily indicate a trend change, they can serve as a valuable heads-up for traders to monitor the market closely and prepare for potential trend reversals. In conclusion, the Modified Super Trend with Chebyshev filter offers a significant improvement over the original Super Trend indicator. By incorporating the Chebyshev filter, this modified version effectively addresses the challenges of smoothing, delay, and noise reduction while minimizing false signals. The wide range of customizable settings allows traders to tailor the indicator to their specific needs, while the inclusion of early warning crosses provides valuable insight into potential trend reversals. Ultimately, the Modified Super Trend with Chebyshev filter is an excellent tool for traders looking to enhance their trend identification and decision-making abilities. With its advanced features, this indicator can help traders navigate volatile markets with confidence, making more informed decisions based on accurate, timely information.
Indicatore Pine Script®
di The_Peaceful_Lizard
6
[LunaOwl] 超級趨勢 (SuperTrend)SuperTrend indicator was developed by Olivier Seban. it shows trend direction. In addition,it provides buy/sell signal. while using super trend indicator, it is better to put stop loss. In fact, you can use the line for stop loss. In addition, you can also trail it as the price move in either direction. wish you a happy trade life. 超級趨勢是奧利維爾．塞班所開發。它可以顯示趨勢和買賣訊號，使用超級趨勢請設置止損單。其實你可以用移動止損線設置。也能價格波動的時候進行追蹤。祝大家交易愉快。 The purpose of publishing Chinese Scripts is to make Pine close to more Chinese user. 發布中文腳本的目的，是希望可以讓 Pine 親近更多中文圈的使用者。
Indicatore Pine Script®
di LunaOwl
9
The Forexation: Super Trend SignalsOverview: The Forexation: Super Trend Signals (STS) indicator was crafted to enhance visualization of market trends by integrating multiple technical analysis tools and adding logic to them so they color bullish, bearish, counter trends, and cautious trends. By combining standard and higher-timeframe Supertrends with dynamic EMAs and VWAP, STS offers a multi-dimensional view of market dynamics. This synergy allows traders to: Assess Trend Strength and Alignment Identify Momentum Shifts and Reversals Gauge Market Sentiment through Volume-Weighted Pricing Filter Out Market Noise for Clearer Signals Key Features and Synergy: 1. Dual Supertrend Analysis: Standard Supertrend: Utilizes the Average True Range (ATR) and a multiplier factor to detect immediate market trends. Customizable ATR Length and Factor to adjust sensitivity to market volatility. Used as a guide to help follow the trend and identify where if price breaks through we can be reversing trend or entering a counter/cautious trend. Higher Time Frame (HTF) Supertrend: Integrates Supertrend data from a higher timeframe for a broader market perspective. Smoothing applied via an EMA to reduce lag and false signals. **Synergistic Effect: Trend Alignment: By analyzing both standard and HTF Supertrends, STS identifies when short-term trends align with long-term trends, increasing the reliability of trend signals. Dynamic Adjustments: Traders can adjust parameters to fine-tune the balance between responsiveness and stability. 2. Customized EMAs with Contextual Color-Coding: Fast and Slow EMAs: Customizable periods to match different trading strategies and timeframes. EMAs are used to identify momentum shifts and potential reversals through crossovers. Dynamic Color-Coding: EMA lines change color based on their relationship with each other, the Supertrends, and VWAP. Visual Interpretation: Bullish Alignment: Fast EMA above Slow EMA, both above Supertrend and VWAP, signals strong upward momentum. Bearish Alignment: Fast EMA below Slow EMA, both below Supertrend and VWAP, signals strong downward momentum. Caution Zones: Misalignment or crossovers indicate potential reversals or consolidation. **Synergistic Effect: Momentum Confirmation: EMA crossovers are validated against Supertrend directions, reducing false signals. Support and Resistance Zones: The area between EMAs acts as dynamic support/resistance, visualized through an optional fill. 3. VWAP Integration for Volume-Weighted Insights: VWAP Analysis: Calculates the average price weighted by volume, providing insights into institutional trading levels and market sentiment. **Synergistic Effect: Trend Validation: Confirms trend strength by analyzing whether price and EMAs are above or below VWAP. Counter-Trend Detection: Identifies potential pullbacks or reversals when price interacts with VWAP against the prevailing trend of the standard and higher time frame SuperTrend. 4. Composite Signal Generation: Color-Coded Market Conditions: Bullish Signals (Green): Strong upward trends with alignment across standard + HTF Supertrend, EMAs, and price above VWAP. Bearish Signals (Red): Strong downward trends with inverse alignment. Caution State (Orange): Potential market reversals or uncertainty when indicators are misaligned. (Example: price above VWAP but under HTF SuperTrend) Counter-Trend Conditions (Yellow): Signals possible pullbacks or consolidations when price or EMAs cross VWAP. (Example: Price is above VWAP & HTF SuperTrend but the EMAs and Standard SuperTrend are in a down trend) **Synergistic Effect: Enhanced Signal Accuracy: By requiring multiple confirmations across different indicators and timeframes, STS filters out noise and increases the probability of trends in the market. Timely Alerts: Alerts are generated when critical conditions are met, keeping traders informed of significant market movements. Underlying Concepts and Calculations: Supertrend Algorithm: Calculation: Supertrend is calculated using ATR to set a dynamic trailing stop that follows price movements. The indicator switches between bullish and bearish modes when price crosses the Supertrend line. Customization: ATR Length and Factor can be adjusted to make the Supertrend more or less sensitive to price changes. In STS: Both standard and HTF Supertrends are used, with the HTF providing longer-term trend context. Exponential Moving Averages (EMAs): Calculation: EMAs apply more weight to recent prices, making them more responsive than Simple Moving Averages (SMAs). Crossovers between Fast and Slow EMAs signal potential momentum shifts. Customization: Periods for Fast and Slow EMAs are user-defined to suit different trading styles. In STS: EMA behavior is analyzed in conjunction with Supertrend and VWAP to validate signals. Volume Weighted Average Price (VWAP): Calculation: VWAP accumulates total dollars traded (price times volume) divided by total volume over a specific period. Reflects the average price at which the instrument has traded throughout the day based on both price and volume. **In STS: VWAP serves as a dynamic support/resistance level. Interaction with VWAP can indicate shifts in market sentiment, especially when combined with other indicators. Justifying the Value of STS: Holistic Market Analysis: STS doesn't just merge indicators; it creates a cohesive system where each component validates and enhances the others. This integrated approach offers a more reliable analysis than using individual indicators in isolation. Customizable and Adaptive: Traders have control over key parameters, allowing STS to be tailored to different markets and trading styles. The ability to adjust sensitivity helps in adapting to varying market conditions. Enhanced Decision-Making: By providing clear visual cues and alerts, STS aids in quick interpretation of complex market data. The indicator helps in identifying high-probability trend opportunities and managing risk effectively with trailing SuperTrend guidance. Unique Signal Filtering: The combination of multiple confirmations reduces the likelihood of false trend signals. The use of higher timeframe data and volume-weighted analysis adds depth to trend assessment. How to Use STS Effectively: 1. Configuring Settings: Supertrend Settings: Adjust ATR Length and Factor to set the desired sensitivity. Select the Higher Time Frame for the HTF Supertrend to align with your trading horizon. Set the Smoothing Period for the EMA applied to the HTF Supertrend. EMA Settings: Define periods for Fast and Slow EMAs based on your strategy. Ensure the Fast EMA period is shorter than the Slow EMA for effective crossovers. Color and Display Settings: Customize colors for different market conditions to enhance visual clarity. Choose whether to display the HTF Supertrend, EMA lines, EMA fill, and VWAP. 2. Interpreting Signals: Bullish Scenario: Supertrends indicate an uptrend. Fast EMA crosses above Slow EMA, both trending upwards. Price and EMAs are above VWAP. Action: Consider long positions, using the standard Supertrend as a trailing stop. Bearish Scenario: Supertrends indicate a downtrend. Fast EMA crosses below Slow EMA, both trending downwards. Price and EMAs are below VWAP. Action: Consider short positions. using the standard Supertrend as a trailing stop Caution and Counter-Trend Signals: Misalignment between indicators or color changes to orange/yellow. Action: Exercise caution, tighten stops, or wait for clearer signals. 4. Setting Up Alerts: Access the Alerts menu. Configure alerts for: Supertrend Direction Changes EMA Crossovers Price Crossing VWAP Set alert actions and ensure they trigger on confirmed data by selecting "Once Per Bar Close." Example Trading Strategies: Trend Following: Use STS to identify strong trends where all indicators are aligned. Enter positions in the direction of the trend. Use Supertrend lines as dynamic stop-loss levels. Pullback Entries: Wait for price to pull back to the EMA fill area or VWAP in a prevailing trend. Look for bounce signals off these levels when supported by Supertrend direction. Counter-Trend Opportunities: Identify potential reversals when caution or counter-trend signals appear. Confirm with additional analysis or indicators before taking positions against the main trend. Disclaimer: This indicator is intended to aid in technical analysis and should be used as part of a comprehensive trading strategy. It does not guarantee profits and carries the risk of loss. Trading financial instruments involves significant risk; please consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results. Final Notes: The Forexation: Super Trend Signals (STS) indicator represents a thoughtfully engineered tool that brings together multiple technical elements to provide a more nuanced understanding of market behavior. By leveraging the strengths of Supertrend, EMAs, and VWAP in unison, STS aims to enhance trading precision and confidence in the trends the market creates but also guide risk management levels for managing a trade and stop loss areas. We are committed to continuous improvement and value user feedback. Please share your experiences and suggestions to help us refine the indicator further. Happy Trading!
Indicatore Pine Script®
di TheForexation
Multi-Fibonacci Trend Average[FibonacciFlux]Multi-Fibonacci Trend Average (MFTA): An Institutional-Grade Trend Confluence Indicator for Discerning Market Participants My original indicator/Strategy: Engineered for the sophisticated demands of institutional and advanced traders, the Multi-Fibonacci Trend Average (MFTA) indicator represents a paradigm shift in technical analysis. This meticulously crafted tool is designed to furnish high-definition trend signals within the complexities of modern financial markets. Anchored in the rigorous principles of Fibonacci ratios and augmented by advanced averaging methodologies, MFTA delivers a granular perspective on trend dynamics. Its integration of Multi-Timeframe (MTF) filters provides unparalleled signal robustness, empowering strategic decision-making with a heightened degree of confidence. MFTA indicator on BTCUSDT 15min chart with 1min RSI and MACD filters enabled. Note the refined signal generation with reduced noise. MFTA indicator on BTCUSDT 15min chart without MTF filters. While capturing more potential trading opportunities, it also generates a higher frequency of signals, including potential false positives. Core Innovation: Proprietary Fibonacci-Enhanced Supertrend Averaging Engine The MFTA indicator’s core innovation lies in its proprietary implementation of Supertrend analysis, strategically fortified by Fibonacci ratios to construct a truly dynamic volatility envelope. Departing from conventional Supertrend methodologies, MFTA autonomously computes not one, but three distinct Supertrend lines. Each of these lines is uniquely parameterized by a specific Fibonacci factor: 0.618 (Weak), 1.618 (Medium/Golden Ratio), and 2.618 (Strong/Extended Fibonacci). // Fibonacci-based factors for multiple Supertrend calculations factor1 = input.float(0.618, 'Factor 1 (Weak/Fibonacci)', minval=0.01, step=0.01, tooltip='Factor 1 (Weak/Fibonacci)', group="Fibonacci Supertrend") factor2 = input.float(1.618, 'Factor 2 (Medium/Golden Ratio)', minval=0.01, step=0.01, tooltip='Factor 2 (Medium/Golden Ratio)', group="Fibonacci Supertrend") factor3 = input.float(2.618, 'Factor 3 (Strong/Extended Fib)', minval=0.01, step=0.01, tooltip='Factor 3 (Strong/Extended Fib)', group="Fibonacci Supertrend") This multi-faceted architecture adeptly captures a spectrum of market volatility sensitivities, ensuring a comprehensive assessment of prevailing conditions. Subsequently, the indicator algorithmically synthesizes these disparate Supertrend lines through arithmetic averaging. To achieve optimal signal fidelity and mitigate inherent market noise, this composite average is further refined utilizing an Exponential Moving Average (EMA). // Calculate average of the three supertends and a smoothed version superlength = input.int(21, 'Smoothing Length', tooltip='Smoothing Length for Average Supertrend', group="Fibonacci Supertrend") average_trend = (supertrend1 + supertrend2 + supertrend3) / 3 smoothed_trend = ta.ema(average_trend, superlength) The resultant ‘Smoothed Trend’ line emerges as a remarkably responsive yet stable trend demarcation, offering demonstrably superior clarity and precision compared to singular Supertrend implementations, particularly within the turbulent dynamics of high-volatility markets. Elevated Signal Confluence: Integrated Multi-Timeframe (MTF) Validation Suite MFTA transcends the limitations of conventional trend indicators by incorporating an advanced suite of three independent MTF filters: RSI, MACD, and Volume. These filters function as sophisticated validation protocols, rigorously ensuring that only signals exhibiting a confluence of high-probability factors are brought to the forefront. 1. Granular Lower Timeframe RSI Momentum Filter The Relative Strength Index (RSI) filter, computed from a user-defined lower timeframe, furnishes critical momentum-based signal validation. By meticulously monitoring RSI dynamics on an accelerated timeframe, traders gain the capacity to evaluate underlying momentum strength with precision, prior to committing to signal execution on the primary chart timeframe. // --- Lower Timeframe RSI Filter --- ltf_rsi_filter_enable = input.bool(false, title="Enable RSI Filter", group="MTF Filters", tooltip="Use RSI from lower timeframe as a filter") ltf_rsi_timeframe = input.timeframe("1", title="RSI Timeframe", group="MTF Filters", tooltip="Timeframe for RSI calculation") ltf_rsi_length = input.int(14, title="RSI Length", minval=1, group="MTF Filters", tooltip="Length for RSI calculation") ltf_rsi_threshold = input.int(30, title="RSI Threshold", minval=0, maxval=100, group="MTF Filters", tooltip="RSI value threshold for filtering signals") 2. Convergent Lower Timeframe MACD Trend-Momentum Filter The Moving Average Convergence Divergence (MACD) filter, also calculated on a lower timeframe basis, introduces a critical layer of trend-momentum convergence confirmation. The bullish signal configuration rigorously mandates that the MACD line be definitively positioned above the Signal line on the designated lower timeframe. This stringent condition ensures a robust indication of converging momentum that aligns synergistically with the prevailing trend identified on the primary timeframe. // --- Lower Timeframe MACD Filter --- ltf_macd_filter_enable = input.bool(false, title="Enable MACD Filter", group="MTF Filters", tooltip="Use MACD from lower timeframe as a filter") ltf_macd_timeframe = input.timeframe("1", title="MACD Timeframe", group="MTF Filters", tooltip="Timeframe for MACD calculation") ltf_macd_fast_length = input.int(12, title="MACD Fast Length", minval=1, group="MTF Filters", tooltip="Fast EMA length for MACD") ltf_macd_slow_length = input.int(26, title="MACD Slow Length", minval=1, group="MTF Filters", tooltip="Slow EMA length for MACD") ltf_macd_signal_length = input.int(9, title="MACD Signal Length", minval=1, group="MTF Filters", tooltip="Signal SMA length for MACD") 3. Definitive Volume Confirmation Filter The Volume Filter functions as an indispensable arbiter of trade conviction. By establishing a dynamic volume threshold, defined as a percentage relative to the average volume over a user-specified lookback period, traders can effectively ensure that all generated signals are rigorously validated by demonstrably increased trading activity. This pivotal validation step signifies robust market participation, substantially diminishing the potential for spurious or false breakout signals. // --- Volume Filter --- volume_filter_enable = input.bool(false, title="Enable Volume Filter", group="MTF Filters", tooltip="Use volume level as a filter") volume_threshold_percent = input.int(title="Volume Threshold (%)", defval=150, minval=100, group="MTF Filters", tooltip="Minimum volume percentage compared to average volume to allow signal (100% = average)") These meticulously engineered filters operate in synergistic confluence, requiring all enabled filters to definitively satisfy their pre-defined conditions before a Buy or Sell signal is generated. This stringent multi-layered validation process drastically minimizes the incidence of false positive signals, thereby significantly enhancing entry precision and overall signal reliability. Intuitive Visual Architecture & Actionable Intelligence MFTA provides a demonstrably intuitive and visually rich charting environment, meticulously delineating trend direction and momentum through precisely color-coded plots: Average Supertrend: Thin line, green/red for uptrend/downtrend, immediate directional bias. Smoothed Supertrend: Bold line, teal/purple for uptrend/downtrend, cleaner, institutionally robust trend. Dynamic Trend Fill: Green/red fill between Supertrends quantifies trend strength and momentum. Adaptive Background Coloring: Light green/red background mirrors Smoothed Supertrend direction, holistic trend perspective. Precision Buy/Sell Signals: ‘BUY’/‘SELL’ labels appear on chart when trend touch and MTF filter confluence are satisfied, facilitating high-conviction trade action. MFTA indicator applied to BTCUSDT 4-hour chart, showcasing its effectiveness on higher timeframes. The Smoothed Length parameter is increased to 200 for enhanced smoothness on this timeframe, coupled with 1min RSI and Volume filters for signal refinement. This illustrates the indicator's adaptability across different timeframes and market conditions. Strategic Applications for Institutional Mandates MFTA’s sophisticated design provides distinct advantages for advanced trading operations and institutional investment mandates. Key strategic applications include: High-Probability Trend Identification: Fibonacci-averaged Supertrend with MTF filters robustly identifies high-probability trend continuations and reversals, enhancing alpha generation. Precision Entry/Exit Signals: Volume and momentum-filtered signals enable institutional-grade precision for optimized risk-adjusted returns. Algorithmic Trading Integration: Clear signal logic facilitates seamless integration into automated trading systems for scalable strategy deployment. Multi-Asset/Timeframe Versatility: Adaptable parameters ensure applicability across diverse asset classes and timeframes, catering to varied trading mandates. Enhanced Risk Management: Superior signal fidelity from MTF filters inherently reduces false signals, supporting robust risk management protocols. Granular Customization and Parameterized Control MFTA offers unparalleled customization, empowering users to fine-tune parameters for precise alignment with specific trading styles and market conditions. Key adjustable parameters include: Fibonacci Factors: Adjust Supertrend sensitivity to volatility regimes. ATR Length: Control volatility responsiveness in Supertrend calculations. Smoothing Length: Refine Smoothed Trend line responsiveness and noise reduction. MTF Filter Parameters: Independently configure timeframes, lookback periods, and thresholds for RSI, MACD, and Volume filters for optimal signal filtering. Disclaimer MFTA is meticulously engineered for high-quality trend signals; however, no indicator guarantees profit. Market conditions are unpredictable, and trading involves substantial risk. Rigorous backtesting and forward testing across diverse datasets, alongside a comprehensive understanding of the indicator's logic, are essential before live deployment. Past performance is not indicative of future results. MFTA is for informational and analytical purposes only and is not financial or investment advice.
Indicatore Pine Script®
di FibonacciFlux
4
Whale Supertrend (V1.2)The script "Whale Supertrend (V1.2)" is an advanced trend indicator that uses multiple Supertrends with different factors to determine entry and exit points in the market. The Supertrend is a popular indicator that combines price and volatility to help identify trend direction. The script displays buy and sell signals based on the confluence of Supertrends. How the script works Configuring Supertrends The script configures six Supertrends with different factors (factor, factor1, factor2, factor3, factor4, factor5) while using the same ATR period (atrPeriod = 10). Supertrend 1: factor = 3 Supertrend 2: factor1 = 4 Supertrend 3: factor2 = 6 Supertrend 4: factor3 = 9 Supertrend 5: factor4 = 13 Supertrend 6: factor5 = 18 For each Supertrend, the bullish (blue) and bearish (purple) trend conditions are plotted on the chart. Signal Calculation The script calculates the number of Supertrends in bullish and bearish trend: bullishCount: Number of Supertrends indicating a bullish trend. bearishCount: Number of Supertrends indicating a bearish trend. Signal Detection The script triggers a buy or sell signal when at least three of the six Supertrends indicate the same trend: Buy Signal (buySignal): Triggers when bullishCount is greater than or equal to 3. Sell Signal (sellSignal): Triggers when bearishCount is greater than or equal to 3. To avoid repetition, signals are only displayed when the state changes: triggerBuy: Buy signal only when buySignal becomes true for the first time. triggerSell: Sell signal only when sellSignal becomes true for the first time. Candle Coloring: Candles now change color based on signals: Green: When a Buy Signal is active. Red: When a Sell Signal is active. This provides a clearer visualization of market trends directly on the chart. Dynamic Settings for Supertrends: You can customize the ATR Period and Factor for each of the 6 Supertrends via the settings panel. Each Supertrend has independent parameters: ATR Period: Controls the ATR calculation period. Factor: Adjusts the Supertrend sensitivity. Benefits: Enhanced Readability: Candle colors help identify buy and sell zones at a glance. Greater Customization: Tailor Supertrend settings to your trading strategy or market conditions.
Indicatore Pine Script®
di WhaleMoves
5
TripleTrend with RSI ReversalTripleTrend with RSI Reversal The TripleTrend with RSI Reversal indicator is a comprehensive trading tool designed to identify trend direction, potential trend reversals, and trade entry/exit signals. It combines three independent SuperTrend indicators with varying sensitivities to provide a multi-layered view of the market trend. Additionally, it incorporates an RSI (Relative Strength Index) module to detect potential price reversals based on overbought/oversold conditions and to filter trend flip signals. This indicator aims to provide clear visual cues on the chart, including trend lines, trend flip labels, and RSI-based reversal warnings, helping traders make more informed decisions. Key Features Triple SuperTrend Analysis Utilizes three configurable SuperTrend lines, each with its own ATR period and multiplier, allowing for a nuanced view of short, medium, and long-term trends. RSI Reversal Signals Identifies potential market turning points when the RSI deeply penetrates overbought or oversold zones, plotting distinct visual cues and labels. Trend Flip Labels Displays labels on the chart when one, two, or all three SuperTrends change direction simultaneously, indicating the strength of the new trend. These labels also include the current RSI value. Customizable RSI Filtering Offers an option to filter out trend flip labels when the RSI is within a user-defined neutral range, reducing signals in choppy market conditions. Configurable Alerts Provides various alert conditions for trend flips and signal confirmations. How It Works SuperTrend Calculation: - The indicator plots three separate SuperTrend lines. Each SuperTrend is calculated using an Average True Range (ATR) period and a multiplier. - A SuperTrend line below the price indicates an uptrend (typically colored green). - A SuperTrend line above the price indicates a downtrend (typically colored red). - The sensitivity of each SuperTrend can be adjusted independently. RSI Reversal Detection: - A standard RSI is calculated. - The indicator monitors if the RSI moves significantly beyond the user-defined Upper Threshold (overbought) or Lower Threshold (oversold). - The depth of this penetration is measured as a percentage. If this percentage exceeds the Upper reversal range percent trigger (for overbought) or Lower reversal range percent trigger (for oversold), a blue line is plotted above the high (for potential bearish reversal) or below the low (for potential bullish reversal) of the signal candle. - A "REV" label appears at the start of this blue line, showing the penetration percentage and the current RSI value. Trend Flip Labels: - When one or more SuperTrends flip direction, the indicator checks RSI conditions. - For buy signals (trend flips upwards), labels appear if the RSI is below the RSI Upper threshold (i.e., not extremely overbought). - For sell signals (trend flips downwards), labels appear if the RSI is above the RSI Lower threshold (i.e., not extremely oversold). - Labels indicate which SuperTrend(s) flipped ("1", "2", "3", "1 2", etc.) and the current RSI value. - An optional Custom RSI Filter can be enabled. If active, trend flip labels will not be shown if the RSI value is between the Custom RSI filter high limit and Custom RSI filter low limit, helping to avoid signals during market indecision. Usage Guide Interpreting SuperTrend Lines: - The three SuperTrend lines act as dynamic levels of support (in an uptrend) or resistance (in a downtrend). - A break of a SuperTrend line by the price suggests a potential change in that specific trend's direction. - Confluence of trends (e.g., all three lines indicating an uptrend) suggests a stronger overall trend. Trend Flip Labels: - Single Trend Flip Labels ("1", "2", or "3"): Indicate an early change in one of the SuperTrends. These can be used for more aggressive entries or to signal a potential shift in momentum. The label includes the RSI value at the time of the flip. - Double Trend Flip Labels ("1 2", "1 3", "2 3"): Offer stronger confirmation as two SuperTrends align in a new direction. - Triple Trend Flip Labels ("1 2 3"): Represent the strongest trend confirmation, as all three SuperTrends have flipped simultaneously. - Green labels suggest buy signals; red labels suggest sell signals. - Always consider the accompanying RSI value on the label and the overall market context. RSI Reversal Signals (Blue Lines & "REV" Labels): - REV is for Reverse - A blue line appearing above the price with a "REV" label suggests the RSI is deeply overbought, indicating potential uptrend exhaustion or a bearish reversal. - A blue line appearing below the price with a "REV" label suggests the RSI is deeply oversold, indicating potential downtrend exhaustion or a bullish reversal. - These are counter-trend signals and should be used with caution, preferably with confirmation from other indicators or price action. They can also serve as warnings to take profit on existing trend-following trades. - Trend flip labels are suppressed when an RSI Reversal line is active, prioritizing the exhaustion signal. Combining Signals: - Look for trend flip labels (especially double or triple) that align with the broader market structure and occur when the RSI is not in extreme territory (as per label logic). - Use RSI Reversal signals as potential early warnings of a trend ending or for high-probability counter-trend setups if strongly supported by other factors. - If the Use custom RSI filter is enabled, be aware that trend flip labels will be hidden if the RSI is within the specified neutral zone. This can help avoid weaker signals in range-bound markets. Settings Customization Trend 1, 2, 3 Settings: - ATR Period: Adjusts the lookback period for ATR calculation. Shorter periods make the SuperTrend more sensitive to price changes. - Source: The price source used for calculations (default is hl2). - ATR Multiplier: Controls the distance of the SuperTrend line from the price. Smaller multipliers result in tighter stops and more signals; larger multipliers result in wider stops and fewer signals. - Show single/double/triple trend flip labels: Toggle visibility for these specific label types. Label settings: - Label Size: Adjusts the size of all indicator labels. - Show reversal labels: Toggles visibility for the "REV" labels associated with RSI Reversal signals. RSI Settings (Change often): - RSI Length: The lookback period for the RSI calculation. - RSI Upper threshold: The RSI level considered overbought. - RSI Lower threshold: The RSI level considered oversold. RSI Reversal detection settings: - Upper reversal range percent trigger: Percentage of penetration into the (RSI Upper Threshold to 100) zone required to trigger an upper reversal signal. Higher values mean RSI needs to be deeper into overbought. - Lower reversal range percent trigger: Percentage of penetration into the (RSI Lower Threshold to 0) zone required to trigger a lower reversal signal. Higher values mean RSI needs to be deeper into oversold. Custom RSI filter settings: - Use custom RSI filter: Enable/disable this filter for trend flip labels. - Custom RSI filter high limit: If the filter is active, no trend flip labels will show if RSI is below this value (and above the low limit). - Custom RSI filter low limit: If the filter is active, no trend flip labels will show if RSI is above this value (and below the high limit). Alerts - Individual trend flips (TripleTrend: Trend 1/2/3 flipped). - Multiple trend flips (TripleTrend: 2 Trends flipped, TripleTrend: 3 Trends flipped). - Confirmed buy/sell signals based on label logic (TripleTrend: Early/Double/Triple trend buy/sell signals). - Configure these alerts in TradingView to receive notifications for specific market events detected by the indicator. How I use TripleTrend with RSI Reversal I use it on 5, 10 and 30 minute time frames. I adjust the settings, especially the RSI thresholds for what I am trading, the day could be in the lower or upper regions of the RSI, I adjust as needed, when needed. I then use the REV (aka REVERSAL) indicators to indicate when to get out or caution me to not enter at that point. Unless I see something else which indicates otherwise. Disclaimer Trading involves substantial risk of loss and is not suitable for every investor. The TripleTrend indicator is to be used at your own risk and is only created to help you make decisions, it is not intended to make decisions for you. Past performance is not indicative of future results. Always do your own research and risk assessment before making any trading decisions. By using this indicator you use it at your own risk.
Indicatore Pine Script®
di darcey