Attrition Scalper v2.0Green/Red Arrowed Buy/Sell signals are just simple buy sell signals based on SuperTrend, VWAP, Bollinger, Linear Regression
Purple Arrowed Buy/Sell Signals happen when the price/candle cross over or under the yellow outer lines (4.236 fib lines) It's extremely rare and hard for price to stay above these lines therefore we can usually and comfortably buy/sell it, a key information here though when price pumps or dumps super fast and hard to the point of crossing these borders, the trend might also be extremely strong and continous so even if the price temporarily goes back inside the borders as the lines expand over time price can continue riding or crossing these lines back again and continue the uptrend/downtrend, therefore crossing these outer borders doesn't necessarilly and always mean a reversal is due.
When analyzing the instrument you're trading the important factors for support/resistance areas are usually the outer lines like i said previously it's super hard for price to be outside these and will almost always get back inside quickly. The Middle thicker green/red line which is Variable Index Dynamic Average should also be a nice pivot line for major support and resistance . All the other lines are also important dynamic support/resistance lines.
Their Importance Order
1- Outer Yellow Line (4.236 Fibs)
2- Thicker Middle Green/Red Line (VIDYA)
3- Thinner Upper/Lower Green/Red Line (VIDYA +3, VIDYA -3)
4- The Rest Of The Lines (Fib Lines)
You can use this indicator in any market condition in any market to determine key support/resistance levels, use it for mean reversion through price expanding to outside of the most outer line therefore being overbought/oversold basically using the purple buy/sell signals or only follow the normal buy/sell signals or use it in confluence with each other. You can also use this indicator in confluence with your own manual technical analysis or other indicators/strategies you are already using and are comfortable with.
A good part is the support/resistance lines from timeframe to timeframe pictures the whole situation quite well, you can use lower timeframe to find your entry/exit positions and higher timeframe to find your key support/resistance points, they all should be somewhat in confluence from timeframe to timeframe anyways. My recommendation would be to look at 1HR, 4HR and 1D charts for swing trading and 5-15 Min for quick scalping/day trading
You should still probably at least take a look to higher timeframes so that you don't get burned when you realize there is a huge resistance line at price XXXXX on the 4 hour chart but you're expecting it to go above it on the 5 minute chart, it can go above it temporarily but we analyze everything on a closing basis so it most likely won't close above it. Again don't take a position or FOMO when price breaks a support/resistance line, we're looking for a CLOSE above/below them and a retest to see if S/R flip happened would even be better.
Sometimes the most outer line won't be the 4.236 (Yellow) lines as when it gets quite volatile the Thinner Upper/Lower Green/Red Lines (VIDYA +3, VIDYA-3) might cross them to be the most outer line, in this case i have observed that the trend is extremely strong this time price almost always doesn't go above or below the VIDYA line but can stay outside of the Yellow 4.236 Fib line for an extended amount of time (price will still get back inside the channel relatively quickly, just not as fast as the normal condition)
With Proper Risk Management and Discipline this indicator can be of great use to you as it's surprisingly successful especially at mean reversion and pointing out the support/resistance lines, they are so much more successful than your average MA/EMA lines.
Cerca negli script per "support"
Trend SuggestionsThis brings together a number of variables to produce trend predictions that could be utilized as decision-making tools.
Uses the aforementioned price and volume derivatives
- A moving average and three weighted moving averages (WMA1, WMA2, WMA3)
- Super Trend Line (ST)
- Opening Range Breakout on Five Minutes, Resistance Bands Pocket pivots, support, and price volume
he Direction is determined by the High and Low Bands of WMAs and the Supertrend Line, which are used to determine the Upper and Lower Lines around the Price. When the price passes below the lower boundary of the band, a downtrend is said to have begun.
Similarly, for an uptrend, this continues until the price passes over the upper edge of the band. Teal for an uptrend and fuchsia for a downturn area shared by the band to identify the trend.
The first five minutes of the breakout lines have a tiny buffer augmentation of 11% applied to them.
Based on what has been observed, support and resistance zones have been somewhat changed from the figures that are often utilized (might work other markets as well)
The markings that may be seen are as follows:
- Blue Triangle indicates a pocket pivot with an upward bias;
- Maroon Triangle indicates a pocket pivot with a downward bias;
- Teal colored Diamonds indicate price upthrusts and potential trend confirmation locations, depending on success or failure.
- Similar backdrop color changes that look as vertical shading are also used to identify them.
- Fuchsia-colored diamonds indicate price declines and a potential trend, depending on whether it persists or fails.
- Dark green and maroon square boxes indicate potential price reversals in the support and resistance bands, respectively.
It goes without saying that this work is derived from numerous other open-source community initiatives.
Feel free to adjust anything you'd like, and we appreciate any feedback.
Volume Weighted Reversal BandsThis is a vwap & vwma hybrid with upper & lower deviation bands that provide excellent price channels and reversal areas. It can be used on lower & higher timeframes, just increase the deviation % for higher timeframes. Try out the 1 minute timeframe with .5% deviation for great scalping levels.
Here is the calculation used for the main line.
(VWMA100 + VWMA500 + VWMA1000 + VWAP) / 4
So it combines 3 VWMAs with the VWAP and divides that number by 4 to give us a moving average. Then we add new levels above and below that moving average to get our channels. The channels are separated by the % deviation you choose in the settings. For tighter bands, lower the percentage deviation and for wider bands, increase the percentage deviation.
The fattest line in the middle is the main moving average and you can expect price to regularly return to this level. The thick lines are the main moving average plus or minus the percentage deviation you have set. There are 10 levels in each direction from the main moving average. The is also a thin short term moving average as well with a custom calculation. It takes 4 different length moving averages that are weighted and 4 more that are volume weighted and divides the total by 8.The lines will be green when price is above the line and red when price is below the line. The thin white line is the VWAP on its own.
These lines will act as dynamic support and resistance so you can scalp them back and forth. These levels work so well because they are volume weighted and the algos hedge their positions back and forth constantly.
For best results, use this indicator on tickers with the highest volume and trading action as the price will stick to these levels better when the big money players are hedging. Some great tickers for this indicator are APPL, SPY, BTC, ETH.
All colors and linewidths can be customized in the settings easily as well as turning off the VWAP or short moving average and adjusting the percentage deviation for the channels.
***MARKETS***
This indicator can be used on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES***
This indicator can be used on all timeframes.
***TIPS***
Try using numerous indicators of ours on your chart for extra confirmation. Our favorites to pair with these bands are the Scalper Ribbon and Trend Friend Signals. The 3 combined give you a lot of extra confirmation on whether the market is going to reverse at these levels.
Psychological levels (Bank levels) PsychoLevels v2 - TartigradiaPsychological levels (Bank levels) plots "round" price levels above and below current price, by truncating after the nth leftmost digits, based on neuroscience research of how humans intuitively calculate in logarithms.
Psychological levels, also called bank levels, are "round" price numbers around which price often experience resistance or support, because traders and investors tend to set orders around these round numbers.
Calculation here is fully automatic and dynamic, contrary to other similar scripts, this one uses a mathematical calculation that extracts the 1, 2 or 3 leftmost digits and calculate the previous and next level by incrementing/decrementing these digits. This means it works for any symbol under any price range.
This approach is based on neuroscience research, which found that human brains intuitively approximate numbers on a logarithmic scale, adults and children alike, and similarly to macaques, for more info see Numerical Cognition , Weber-Fechner Law , Zipf law.
For example, if price is at 0.0421, the next major price level is 0.05 and medium one is 0.043. For another asset currently priced at 19354, the next and previous major price levels are 20000 and 10000 respectively, and the next/previous medium levels are 20000 and 19000, and the next/previous weak levels are 19400 and 19300.
Usage:
* By default, strong upper level is in green, strong lower level is in red, medium upper level is in blue, medium lower level is in yellow, and weak levels aren't displayed but can be. Half levels are also displayed, in a darker color. Strong levels are increments of the first leftmost digit (eg, 10000 to 20000), medium levels are increments of the second leftmost digit (eg, 19000 to 20000), and weak levels of the third leftmost digit (eg, 19100 to 19200). Instead of plotting all the psychological levels all at once as a grid, which makes the chart unintelligible, here the levels adapt dynamically around the current price, so that they show the upper/lower levels relatively to the current price.
* A simple moving average is implemented, so that "half-levels" are also displayed when relevant (eg, medium level can also display 19500 instead of only 19000 or 20000). This can be disabled by setting smoothing to 1.
* By default, the script runs on the daily timeframe, whatever the current chart's timeframe is. This is to reduce the variability in levels, to make it less noisy than intraday price movement, but this can be changed in the settings.
* The step can be adjusted to increase the gap between levels, eg, if you want to display one every 2 levels then input step = 2 (eg, 22000, 24000, 26000, etc), or if you want to display quarter levels, input 0.25 (eg, 22000, 22250, 22500, etc). The default values should fit most use cases and cover most psychological levels.
I made this script mainly to train with PineScript, but I found it surprisingly accurate to define levels that are respected by price movements. So I guess it can be useful for new traders and experienced traders alike, as it's easy to forget that psychological levels can often be as strong if not stronger than technical levels. It can also be used to quickly screen other minor assets for trading opportunities. For example, a hybrid strategy would be to manually define levels on BTCUSD but using this script to automatically define levels in crypto altcoins and quickly screen them for a trade opportunity that can be greater than with BTCUSD but with the same trend.
Changes compared to v1:
* Deduplicated redundant calculations and hence faster script.
* Added half-step levels, which allows to more easily see breakouts (because the levels are still on-screen).
* All steps are now configuration on the GUI.
* Revamped color scheme.
* And major reasons to post as a separate v2 script rather than updating: because we can't update the original description nor screenshot. I have now read more about the House Rules and saw other scriptmakers, so I am trying to write better descriptions like wizards do, by explaining not only how the script works but what the underlying financial concept is to a neophyte audience.
Price Action in action
What?
Price Action in Action is an indicator to help Price Action learners and practitioners to get everything related for Price Action in one place.
Price Action is:
Price + Volume = Action
In this indicator, we have the following features available:
Support/Resistance
Using the RSI with different periods in a multiple of 7 (7, 14, 21, 28), we first determine the overbought (above 70, customizable) and oversold (below 30, customizable) regions. Then we pick up the highest point and lowest point in the RSI values in the overbought and oversold regions, respectively. These are the point, historically supply/demand emerged for surety to push down/up the RSI indicator and the corresponding price. So, these are the most accurate way, we believe, to draw support/resistance (or demand/supply) in the chart. By default, the Support is green color and Resistance is red color. To give a visual representation, we differentiate the different shades of green and red. For example, for Level-1 (i.e. 7 by default) we use the darkest shade (0 transparency) and Level-4 (i.e. 28 by default) we use lighter shade (60 transparency). Note please: you can customize the color of support and resistance lines (say if you want resistance as green and support as red). The respective shades (transparency) will be automatically adjusted accordingly. But those shade (transparency) levels are not customizable, they are fixed (please bear with it for version-1 at least).
Strength of Support/Resistance
In the chart above/below the Resistance / Support lines you can see the tiny labels with some numbers like 1, 2.
We found out how many times a particular support/resistance is appearing across multiple RSI periods. E.g. if price P1 appears 2 times among 4 different RSI periods, the number will be 2 for that calculation, and so on.
There can be multiple presence of these numbers in a support/resistance line (i.e. multiple tiny labels). Something like: 1, 1, 2 (into different candles). This means the same support/resistance is tested so many times in different occasion (means there is a RSI max/min coincides in this level over multiple occasions) at different candles.
This will help you to intuitionally gauge the “strength” of a support/resistance line.
The more the marrier, unworthy to mention.
Candle Stick Patterns
Well: we don’t need to tell anything about the Candlestick. All of you know it better than us. And it’s a time proven, zero-lag mechanism to judge the Price-Action is unfolding in the market. We do not know if there is anything better possible than this time tested patterns to judge the prevailing sentiments of market.
Price-Action does not complete without finding out the Candlestick Patterns correctly.
And in this indicator your will get all of these: Single Candle such as Doji (default off), Marubozu, Spinner, hammers, inverted-hammer etc. ; 2 candles like Tweezer, Inside Candle, Engulfing; 3 candles like morning star/evening star.
In the multi candle patterns (2/3 candles), we are grouping the candles with a dotted rectangle such that it is clear which 2/3 candles are part of the pattern. E.g. Morning Star: 3 candles are grouped in a dotted rectangle and the Morning Star label will come to the latest candle (3rd most – as the pattern is detected reliably only on the completion of the 3rd final candle).
Of course, any program can not eliminate your trained eyes and brain to capture the patterns. But we have provided sufficient knobs to adjust various parameters to tweak the candle-pattern detection. Such as Strict Inside Candle(Harami) Boolean knob where the whole current candle including wicks will be inside the body part of the previous big candle. For non-strict mode, the current candle just inside the previous candle, possibly by wicks.
To make it better usable, for every such knobs (which are not obvious) we have added user-friendly tooltip (just mouse hover the question mark (?) besides the control/switch). There are plenty of it.
Volume
Here we have a rudimentary (yet effective) way to judge the volumes.
We find out the Volume Weighted Moving Average (VMWA) of the 20-period (default, but customizable) and the latest volume. If the latest volume is more than the 20 period vwma, we just add a grey diamond on the top of the candle to denote it’s attracting volumes. Of course, we provide a Weight coefficient (default is set to 1). So if the current bar’s volume on bar’s completion is more than the 20 period volume vmwa times the weigh-cofficient, we mark it with a tiny grey diamond.
Points to be noted:
In all places we mark the indication only on the completion of the bar (technically speaking we have checks, as far as possible, with barstate.isconfirmed). However, if you wish, you can turn it off for Candlestick (as some experts may want to check candlestick on the real time, even before the closing of bars).
In case if you see the chart looks cluttered (because of many information, specially in smaller timeframes like 5 min), there are controls given in the settings to toggle each and every features.
By default, we turn off Doji candles (all 3 types of Doji’s – normal, Gravestone & Dragonfly) as they are mainly indecision. However, you can toggle it to turn it on.
It does not give you any Buy/Sell call. The interpretation it does not have.
Why?
What’s unique in it?
As we already mentioned our intention is to include Price (in forms of Support / Resistance), Volume and Action (sentiments in terms of Candlestick patterns) into a single place. And so far, to the best of our knowledge, we could not come across a single indicator provides all of these.
There were works available to determine the RSI based support / resistance zones. Those are great piece works at that time (lets say 3 years back when PineScript was in earlier versions). To the best of our knowledge those does not cover up finding out the lowest / highest point of RSI and the corresponding price to get the simplistic and distinct support/resistance lines.
We have the intuitive support/resistance strength included which we could not found out in current set of available indicators.
To the best of our knowledge, there seems no indicator can detect 3-candle patterns which are extremely popular to detect trend reversals (such as Morning Star or Evening Star). Moreover for the multi-candle patterns we are grouping the candles part of the pattens (2-candles or 3-candles) using a dotted rectangle such that it’s visually clearly (and a well educative material for Price-Action learners also).
Mentions:
There are many works which inspire us along the way. Honestly: we sometimes forgot which all indicators we experimented with. We are sincerely apologetic in case we forgot to mention. A few note-worthy:
There is an indicator from user “repo32” named as “Candlestick Patterns Identified (updated 3/11/15)”. (We could not be able to contact “repo32”). We are inspired from his work that it’s feasible to detect Candlestick patterns.
There is an awesome work done by “RSI Based Automatic Demand and Supply” by user “shtcoinr”. The idea of consulting multiple RSI levels to find out the demand/supply zone we inspired from him. (We did contact “shtcoinr” and got his kind permission to use the concept.)
We are greatly thankful to these abovementioned wizards for their pioneering a-prior work in this front.
And of course, this TradingView platform to provide this abstraction, facilitates and felicitates collaborative contributions.
Ultimately, what’s for you?
That’s the main question. What’s for you?
Price-action comprises of following 3 tasks (at least):
Draw support/resistance lines in the chart.
Once price reaches at the support/resistance line, you fervently look out the candles’ formation to mentally map to the candle patterns. Your aim is divine: You want to judge if the price-action will continue or take a rejection/reversal.
Then you double-confirm with the volume (in a non-overlaid chart below).
Finally take a trade.
For a price-action newbie or seasoned, expert practitioner, you must be doing all the above tasks regularly and manually, in a mechanical, mundane way. There come the humanly subjectivity & the inevitable emotions . This indicator, being a piece of program/code in PineScript latest version v5 , eliminates (or at least, reduces to a great extend) that subjectivity & emotions out of the way of decision making . Thus resulting better yield.
Of course, you can argue that you draw slanted trend lines also. We recommend an already existing indicator by user LuxAlgo named as “Trendlines with Breaks ”, if you wish so.
Disclaimer:
This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time.
We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
Happy trading.
Stock Tech Bot One ViewTechnical indicators are not limited. Hence, here is another indicator with the combination of OBV, RSI, and MACD along with support, and resistance that follows the price while honoring the moving average of 200, 90 & 50.
The default lookback period of this indicator is 21 though it is changeable as per the user's desire.
The highest high and lowest low for the last 21 days lookback period proven to be the perfect Support & Resistance as the price of particular stock values are decided by market psychology. The support and resistance lines are very important to understand the market psychology which is very well proven with price action patterns and the lines are drawn based on,
Lower Extreme = 0.1 (Changeable)
Maximum Range = 21 days highest high - 21 days lowest low.
Support Line = 21 days lowest low + (Maximum Range * Lower Extreme)
Resistance Line = 21 days highest high - (Maximum Range * Lower Extreme)
RSI - Relative strength indicator is very famous to find the market momentum within the range of 0 - 100. Though the lookback period is changeable, the 14 days lookback period is the perfect match as the momentum of market movement for the last 3 weeks will always assist to identify the market regime. Here the momentum is just to highlight the indication (green up arrow under the candle for long and red down arrow above the candle for short) of market movement though it is not very important to consider if the price of the stock respect the support & resistance lines along with volume indicator (* = violet color).
OBV - Momentum:
The on-balance volume is always going indicator on any kind of tickers, which helps to identify the buying interest. Now, applying momentum on OBV with the positive movement for at least two consecutive days gives perfect confirmation for entry. A combination of the price along with this momentum(OBV) in the chart will help us to know the whipsaw in the price.
The Symbol "*" on top of each bar shows the market interest in that particular stock. If your ticker is fundamentally strong then you can see this "*" even when the market falls.
MACD:
One of the favorites and simple indicators widely used, where the thump of the rule is not to change the length even if it is allowed. It's OK to believe blindly in certain indicator and consider it while trading. That's why the indicator changes the bar color by following the MACD histogram.
Volume:
It may be the OBV works based on the open price and close price along with volume movement, it is wise to have the volume that is plotted along with price movement that should help you to decide whether the market is greedy or fearful.
The symbol "-" on top of each bar tells you a lot and don't ignore it.
Moving Average:
Moving average is a very good trend indicator as everyone considers seeing along with the price in the chart which is not omitted while we gauge the price movement alone with volume in this indicator. The 200, 90 & 50 MA's are everyone's favorite, and the same is plotted on the chart.
As explained above, the combination of all four indicators with price movement will give us very good confidence to take entry.
Candlestick Pattern:
You should admire the techniques of the candlestick pattern as you navigate the chart from right to left. Though there are a lot of patterns that exist, it is easy to enable and disable to view the signal as the label.
Further, last but not least, the exit always depends on individual conviction and how often the individual watch the price movement, if your conviction is strong then follow the down arrow red indication. If not, then exit with a trailing stop that indicates the bar with orange color.
Happy investing
Note: It is just a combination of multiple indicators and patterns to get one holistic view. So, the credit goes to all wise developers who publically published.
Average Daily Range (ADR) (Multi Timeframe, Multi Period)Average Daily Range (ADR)
(Multi Timeframe, Multi Period, Extended Levels)
Tips
• Narrow Zones are an indication of breakouts. It can be a very tight range as well.
• Wider Zones can be Sideways or Volatile.
What is this Indicator?
• This is Average Daily Range (ADR) Zones or Pivots.
• This have Multi Timeframe, Multi Period (Up to 3 Levels) and Extended Target Levels.
Advantages of this Indicator
• This is a Leading indicator, not Dynamic or Repaint.
• Helps to identify the reversal points.
• The levels are more accurate and not like the old formulas.
• Can practically follow the Buy Low and Sell High principle.
• Helps to keep minimum Stop Loss.
Who to use?
• Highly beneficial for Day Traders
• It can be used for Swing and Positions as well.
What timeframe to use?
• Any timeframe.
When to use?
• Any market conditions.
How to use?
Entry
• Long entry when the Price reach at or closer to the Green Support zone.
• Long entry when the Price retrace to the Red Resistance zone.
• Short entry when the Price reach at or closer to the Red Resistance zone.
• Short entry when the Price retrace to the Green Support zone.
• Long or Short at the Pivot line.
Exit
• Use past ADR levels as targets.
• Or use the Target levels in the indicator for breakouts.
• Use the Pivot line as target.
• Use Support or Resistance Zones as targets in reversal method.
What are the Lines?
Gray Line:
• It the day Open or can be considered as Pivot.
Red & Green ADR Zones:
• Red Zone is Resistance.
• Green Zone is Support.
• Mostly price can reverse from this Zones.
• Multiple Red and Green Lines forms a Zone.
• These lines are average levels of past days which helps to figure out the maximum and minimum price range that can be moved in that day.
• The default number of days are 5, 7 and 14. This can be customized.
Red & Green Target Lines:
• These are Target levels.
What are the Labels?
• First Number: Price of that level.
• Numbers in (): Percentage change and Change of price from LTP (Last Traded Price) to that Level.
General Tips
• It is good if Stock trend is same as that of the Index trend.
• Lots of indicators creates lots of confusion.
• Keep the chart simple and clean.
• Buy Low and Sell High.
• Master averages or 50%.
Customizable Pivot Support/Resistance Zones [MyTradingCoder]This script uses the standard pivot-high/pivot-low built-in methods to identify pivot points on the chart as a base calculation for the zones. Rather than displaying basic lines, it displays a zone from the original pivot point to the closest part of the available body on the same candle. The script comes in handy by utilizing Pinescripts available input.source() function to allow for an external indicators output value to be used within the indicator. Make sure to read all of the TOOLTIPS in the indicator settings menu to get a full understanding of what each setting does, and how it can affect the results that end up on the chart.
By enabling the custom filter in the indicator settings, you will notice you have the ability to filter out zones using an external indicator such as an RSI. Maybe you only want zones to be calculated/drawn when the RSI is overbought or oversold, or maybe you only want the zones to calculate/draw if the Supertrend is green or red. The list of possible filters that you can implement is too many to count. Feel free to play around with the indicator however you like, and configure something that you find to be the most useful for your trading.
On top of everything listed above, the indicator has pre-programmed built-in alertconditions so that you can potentially automate trading, or get a notification to your cell phone when a zone is being touched/broken.
Jurik Filter [Loxx]Jurik Filter is a Jurik-filtered moving average that acts as both a baseline and a support and resistance indicator
What is Jurik Volty used in the Juirk Filter?
One of the lesser known qualities of Juirk smoothing is that the Jurik smoothing process is adaptive. "Jurik Volty" (a sort of market volatility ) is what makes Jurik smoothing adaptive. The Jurik Volty calculation can be used as both a standalone indicator and to smooth other indicators that you wish to make adaptive.
What is the Jurik Moving Average?
Have you noticed how moving averages add some lag (delay) to your signals? ... especially when price gaps up or down in a big move, and you are waiting for your moving average to catch up? Wait no more! JMA eliminates this problem forever and gives you the best of both worlds: low lag and smooth lines.
Ideally, you would like a filtered signal to be both smooth and lag-free. Lag causes delays in your trades, and increasing lag in your indicators typically result in lower profits. In other words, late comers get what's left on the table after the feast has already begun.
Included
-Advanced filtering system using multiples of standard deviation, this filter acts paint dynamic support and resistance levels on the chart based on volatility
-Double Jurik filtering
-Toggle bar color on/off
SSL HYBRID AdvancedSSL HYBRID Advanced
SSL Hybrid is an Advanced version of the default SSL Hybrid by Mihkel00.
Multiple Indicators
MACD Crossover Signals
EMA 200
Bollinger Band
Bollinger Band Squeeze
ADX Crossover and ADX level
CCI Over Brought /Sold
Stochastic Over Brought /Sold
RSI Over Brought /Sold
CREDITS
QQE MOD byMihkel00
SSL Hybrid by Mihkel00
Waddah Attar Explosion by shayankm
Support Resistance LonesomeTheBlue
Indicators On Chart
QQE MOD is plotted as Dot below and above the candle and also as Background
QQE line is plotted and can be used as crossover to find trend. Flat movement of QQE is Sideways
Weak ADX is plotted as a Background color. Same can be verified using Bollinger band Squeeze.
EMA crossover can be plotted by selecting MTF MA(multi time frame moving average indicator) Area plot is provided.
CCI , Stochastic, RSI signals provided in the table option
WAE (volume indicator ) is shown in Table
EMA 200 is plotted and color Represents ADX level and direction. Plots on EMA 200 are ADX crossovers
MACD crossovers are represented by Triangles above and below Candles
Support Resistance levels are plotted (change settings)
Pivot Points are plotted (change settings)
Bollinger Bands Plotted
EMA 20 and EMA 50 plotted with AREA for additional confirmation
Buy: When the table option shows completely Blue signals in all indicators
Sell: When the table option shows completely Pink signals in all indicators
WARNING not recommended for lower time frames. Use at your own Risk.
Updates will be released shortly if any. please provide your suggestions to make it more functional indicator.
XABCD Harmonic Pattern Custom Range Interactive█ OVERVIEW
This indicator was designed based on Harmonic Pattern Book written by Scott Carney. It was simplified to user who may always used tools such as XABCD Pattern and Long Position / Short Position, which consume a lot of time, recommended for both beginner and expert of Harmonic Pattern Traders. XABCD Pattern require tool usage of Magnet tool either Strong Magnet, Week Magnet or none, which cause error or human mistake especially daily practice.
Simplified Guideline by sequence for Harmonic Pattern if using manual tools :
Step 1 : Trade Identification - XABCD Pattern
Step 2 : Trade Execution - Any manual tools of your choice
Step 3 : Trade Management - Position / Short Position
█ INSPIRATION
Inspired by design, code and usage of CAGR. Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView.
I use a lot of XABCD Pattern and Long Position / Short Position, require 5 to 10 minutes on average, upon determine the validity of harmonic pattern.
Upon creating this indicator, I believed that time can be reduced, gain more confidence, reduce error during drawing XABCD, which helps most of harmonic pattern users.
█ FEATURES
Table can positioned by any postion and font size can be resized.
Table can be display through optimized display or manual control.
Validility of harmonic pattern depends on BC ratio.
Harmonic pattern can be displayed fully or optimized while showing BC ratio validity.
Trade Execution at point D can be displayed on / off.
Stop Loss and Take Profit can be calculated automatically or manually.
Optimized table display based extend line setup and profit and loss setup.
Execution zone can be offset to Point C, by default using Point D.
Currency can be show or hide.
Profit and Loss can be displayed on axis once line is extended.
█ HOW TO USE
Step 1 : Trade Identification - Draw points from Point X to Point C. Dont worry about magnet, point will attached depends on High or Low of the candle.
Step 2 : Trade Execution - Check the validity of BC to determine the validity of harmonic pattern generated. Pattern only generate 1 pattern upon success. Otherwise, redraw to other points.
Step 3 : Trade Management - Determine the current candle either reach Point D or Potential Reversal Zone (PRZ). Check for Profit & Loss once reach PRZ.
█ USAGE LIMITATIONS
Harmonic Patterns only limits to patterns mentioned in Harmonic Trading Volume 3 due to other pattern may have other or different philosophy.
Only can be used for Daily timeframe and below due to bar_time is based on minutes by default.
Not recommended for Weekly and Monthly timeframe.
If Point X, A, B, C and D is next to each other, it is recommend to use lower timeframe.
Automated alert is not supported for this release. However, alert can be done manually. Alert will updated on the version.
█ PINE SCRIPT LIMITATIONS
Known bug for when calculate time in array, causing label may not appeared or offset.
Unable to convert to library due to usage of array.get(). I prefer usage for a combination of array.get(id, 0), array.get(id, 1), array.get(id, 2) into custom function, however I faced this issue during make arrays of label. Index can be simply refered as int, for id, i not sure, already try id refered as simple, nothing happens.
linefill.new() will appeared as diamond box if overused.
Text in box.new() unable to use ternary condition or switch to change color. Bgcolor also affected.
Label display is larger than XABCD tool. Hopefully in future, have function to resize label similar to XABCD tools.
█ IMPORTANTS
Trade Management (Profit & Loss) is calculated from Point A to D.
Take Profit is calculated based on ratio 0.382 and 0.618 of Point A to D.
Always check BC validity before proceed to Trade Management.
Length of XABCD is equal to XAB plus BCD, where XAB and BCD are one to one ratio. Length is measured in time.
Use other oscillator to countercheck. Normally use built-in Relative Strength Index (RSI) and Divergence Indicator to determine starting point of Point X and A.
█ HARMONIC PATTERNS SUPPORTED
// Credits to Scott M Carney, author of Harmonic Trading Volume 3: Reaction vs. Reversal
Alt Bat - Page 101
Bat - Page 98
Crab - Page 104
Gartley - Page 92
Butterfly - Page 113
Deep Crab - Page 107
Shark - Page 119 - 220
█ FAQ
Pattern such as 5-0, perfect XABCD and ABCD that not included, will updated on either next version or new release.
Point D time is for approximation only, not including holidays and extended session.
Basic explaination for Harmonic Trading System (Trade Identification, Trade Execution and Trade Management).
Harmonic Patterns values is pretty much summarized here including Stop Loss.
Basic explanation for Alt Bat, Bat, Crab, Gartley, Deep Crab and Butterfly.
█ USAGE / TIPS EXAMPLES (Description explained in each image)
Kapua Whenua LANDZZ1Kapua Whenua means Earth's Clouds in Maori language, this indicator was created to show impulses and trends of the asset's price movement both up and down.
The Indicator was made based on key numbers of the golden ratio:
Conversion Line: Kw 17 (Purple Color)
Kw 34 - Short Period Fractal (Light Blue Color)
Kw 72 - Short/Medium Period Fractal (Orange)
Kw 144 - Medium Period Fractal (Yellow Color)
Kw 305 - Medium/Long Period Fractal (Dark Blue Color)
Kw 610 - Long Period Fractal (Grey)
Kw 1292 - Long Period Fractal+ (Black Color)
The baseline or also called the conversion line is identified by the Color Purple of value 17.
How to read the indicator:
Every time the conversion line (Purple Color 17 periods) crosses a Kw value (Kapua Whenua) it will always look for the next KW line above or below the value as support or resistance.
For example:
If we are in a bull market, and the price crosses below the KW17 conversion line it will go towards KW 34 as support, if the price breaks KW 34 it will go towards the next line below KW 34 as support.
Every time the conversion line or the price crosses a higher value of Kapua Whenua (KW) this trend will be stronger, it means, if the conversion line (KW 17) crosses above KW 305 it will indicate more strength than if it had crossed above the KW 72 or 144 for example. So to get better results trading with the trend, always observe if the conversion line and the price are below or above some Medium/Long Period KW.
Note also that, in an uptrend, it could be that all KW are below each other. In a downtrend, it could be that all KW are on top of each other. This indicates that the farther the price is from the fractals the stronger the trend is, also, when there is a narrowing of the fractals means that the price will start to go sideways. If the price is between 2 or more Fractals, it will indicate consolidation.
A really good trend is considered when the price or the Short/Medium Period Fractals are all above or below at KW 610, which is a long period fractal, meaning a strong uptrend or downtrend.
A larger KW can be at the same point as a smaller KW, however, the stronger color will be shown above the weaker one.
***Larger chart timeframes are better to see longer KW fractals that are above or below the price, if your chart timeframe doesn't show a bigger support or resistance fractal, change the chart time to another longer period**
Tip - Get used to looking at line colors as your indicators, just like moving averages. You can also take or place any fractal at any time in the configuration menu.
Parallel Pivot Lines [LuxAlgo]Displays lines connecting past pivot high/low points with each line having the slope of a linear regression. This slope can also be controlled by the user with the 'Slope' setting. Each line can be used as a support or resistance by the user.
Settings
Length : Pivot length. Use higher values for having lines connected to more significant pivots points.
Lookback : Number of lines connecting a pivot high/low to display, with a total of lines equal to Lookback*2
Slope : Allows the user to multiply the linear regression slope by a number within -1 and 1
Limitations
The script has currently several real time behavior limitations. Lines are displayed retrospectively and will not update with the arrival of new bars. Readjusting the indicator to newer pivots will require the user to either hide/unhide the indicator or change its settings.
High Length or Lookback values might not return any lines if the location of a pivot point is outside the defined buffer size of the indicator (set as 5000 bars).
How To Use
The indicator can be used to get supports and resistances and is more so closer to a drawing tool due to its limitations. The lines not updating with the arrival of new bars have the advantage of providing fixed supports/resistances.
The Slope setting allows the user to control the angle and direction of the lines. Using a Slope of 1 will return lines with the same slope as the one of a linear regression fit from the farthest pivot point displayed by the indicator to the most recent bar.
The chart above shows the indicators and a linear regression in orange.
If you want to have horizontal lines, use a Slope equal to 0.
Finally using a negative slope value will allow the user to have lines in opposite directions to the main trend.
Conclusion
We hope you like this indicator (drawing tool) and find it useful for drawing your support & resistances in a unique way!
PRIME - ShadoW ZoneZ with RSI LevelsIn This experimental study, we've taken RSI data, Volume Profile, and Trend analysis, combining them into one unique package that will allow a trader to analyze market trend lines and their proposed channels, trend momentum through candle color augmentation similar to "Pulse", and Visible Volume index price levels on chart for the current sequence. Below are explanations of each function within the system.
The Semafor is used to spot future multi-level Supports and Resistance zones.
It is also useful to spot HL or LL or HH or LH zones at different Depth settings.
The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal
Automatic Trend Lines
The indicator takes in 2 timeframes to detect High and Low values from which to draw the trend lines of each timeframe.
As the values change with price movement, the lines are updated. They are color coded for uptrend and downtrend based on the direction of each individual line. Trend lines can be set up to color with only the default value on the configurations panel.
- Toggle on/off Color Coded
- Change Default, Uptrend, Downtrend color
- Change Line Width
- Change Line Style
- Toggle on/off Line Extensions
- Change Extended Line Width
- Change Extended Line Style
- Toggle On/Off labels for 7 data points of each timeframe
Automatic Trend Sights
This is a neat feature that may help you get a better feel for the direction the current movement is heading towards in correlation with the short or medium length timeframe trends. The sight draws a line from the middle vertical point of the trend coordinates towards the current price. They are toggled off by default but can be enabled in the configurations panel.
- Toggle on/off sight on each timeframe
- Change Width
- Change Line Style
Support & Resistance Levels, the main aim of the study. Level calculations are based on Relative Strength Index ( RSI ) threshold levels of oversold/overbought and bull/bear zones, where all threshold values are customizable through the user dialog box. Background of the levels can be colored optionally.
RSI Weighted Colored Bars and/or Mark Overbought/Oversold Bars , Bar colors can be painted to better emphasis RSI values. Darker colors when the oscillator is in oversold/overbought zones, light colors when oscillator readings are below/above the bull/bear zone respectively, and remain unchanged otherwise. Besides the colors, with “Display RSI Overbought/Oversold Price Bars” option little triangle shapes can be plotted on top or bottom of the bars when RSI is in oversold/overbought zones .
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Gunzo Market SRGunzo Market SR is a set of 3 tools combined for trend analysis on day trading strategy.
VWAP (Volume Weighted Average Price) :
The VWAP indicator is generally used for trend analysis. For example if the VWAP line is under the closing price for a long period of time, the trend is strong. In this script, the VWAP has been optimized for day trading as the indicator is calculated inside the daily range, and resets when a new day starts. This way the indicator reflects the daily trend and not the overall trend. You can also use the position of closing price according to the VWAP to find optimal entry points according to the indicator.
Highs / Lows :
The Highs / Lows are generally used for trend analysis too. The High / Lows are mainly used to identify prices that have been key during the past and that we can use as an indication for the following candles. In this script, the Highs / Lows are computed on the daily period and then displayed on the current period (recommended to use on a daily period or lower). This way the indicator reflects the highest point and the lowest point of the day (can be modified to have a longer range of pivot days even if I recommend to stay on 1 day for day trading).
Support / Resistance :
The Support / Resistance is generally used for trend analysis too. The Support / Resistance are found by searching local high and lows. The longer the supports and resistance are, the strongest it can be considered. In this script, the Highs / Lows are computed by default on a lower time frame (usually 3-4 times lower). For example on a 15 minute graph, the Highs / Lows will be computed on the 5 minute graph (can be modified if the displayed result is not optimized for your asset).
How to use this set of tools :
I personally recommend to use this tool at the start of your day of trading. This way you will get a clear vision of the daily situation and try to identify key prices and the trend for the current day. I then suggest to set up an alert on the key price to be notified when you're getting close to it.
Keltner FibzonesKeltner Channel with Fibonacci Zones which uses properties of a Donchian Channel.
This script is a variation of the Fibonacci Zone script and the Donchian Fibonacci Trading Tool which I published earlier. A Keltner Channel gives more useful information to the trader than a Donchian Channel, because it provides a depiction of “normal range” and shows “outside normalcy” situations. Fibonacci lines provide a way to see if the market is trending up or down, while moving inside the channel, because in cases where the Fibonacci lines function as resistance, the trend is down, whereas when these turn out to be supports the trend is up.
Example of use:
If after a rally up - in which candles moves outside the channel - these return into the channel, this means a “new normal”. If the fibs turn out to give support, one may assume that this is a temporary sideways movement in which a flag is formed, after which following rally up may happen. With rally down the opposite is true. Top and bottom situations show a change in the way the market uses the fiblines.
The middle line of the Donchian Channel is used as the middle line of the Keltner channel, in stead of the sma in the classic channel. Default for calculation is 2 x Average True Range above and below this line. Default for the periods of the channel is 20 periods, because this allows the candles to go outside the channel. If you shorten this, all happens inside the channel.
[ST] S/R density study v3This algorithm draws supports/resistance levels automatically based on historic candle density at each height. The basic idea is the levels where price is rejected quickly is likely to have fewer candles in the past than the levels above and below. This does not take volume into account. The lookback and number of levels has to be kept low to prevent too many calculations. I haven't looked if there's new pinescript features to let me do this more efficiently yet.
It checks for candle density to decrease once or twice and then increase once or twice before it draws a line at that lowest level. There's an option to draw more lines by only checking for a single decrease and increase.
It likely won't catch all the levels but it seems to get a good amount to help me position stops on other side of S/R or exits on the trade side of S/R.
I've been meaning to share more scripts but keep forgetting. Keeping my scripts free but feel free to like or tip haha.
MTF VWAP + Fibo Incremental deviationsI made a Fibo variant of my first script "VWAPs + devs" :
This new indicator give you the possibility to plot multi timeframes VWAP (D, W, M, 3M and 12M ) and Fibo deviations for each one.
VWAP is a powerfull indicator which is used by big players to get informations if the price is "overbought" or "oversold". Deviations give the opportunity to have supports and resistances in those "over"-zones.
I searched for better results and found those defaults values :
Fib 1 level : 0.618
Fib 2 level : 0.786
Fib 3 level : 1.000
Fib 4 level : 1.618
Fib 5 level : 2.618
In the thumbnail, we can see that the 1.618 deviation level made a great support on the last uptrend for BTCUSDT .
You can change each values but low ones as 0.382 and 0.5 don't give really interesting supports/resistances.
I made this script as clear and simple as possible with only one menu in the parameters.
Some examples of what you can do :
BTCUSDT (Binance) H4 / D, W, M, 3M ,12M VWAP without devs
BTCUSDT (Binance) M5 / Daily VWAP + Fibo devs
Hope this will be useful for you !
ASFX EMAs, ADR, Asian Range, and Pivot PointsThis indicator combines the essential indicators that ASFX traders use, including the EMAs (8, 21, 50, 200, 800), the Average Daily Range, the Asian Range, and the Pivot Points.
The EMAs should be used as dynamic supports and resistances. We could use it to find entries like when there is a bullish engulfing coming off the 21 EMA.
The Average Daily Range tells us the how many pips the pair moves on average. We could use it to measure risk/reward ratios or see it as another resistance.
The Asian Range is displayed as two lines indicating the Asian Session's High and Low. This could help us to determine whether the pair is ready for a breakout. We might avoid setups that are still in the Asian Range as the pair might still be indecisive.
The Pivot Points are also another form of support and resistance which are calculated using the previous day's data. The Pivot Points displayed in this indicator only include the Pivot, R1, R2, R3, S1, S2, S3. (R4, R5, S4, S5 are not included)
All of these indicators should give us a read of the trend. If the EMAs are beautifully fanned out with the 8 EMA on the top and the 800 EMA on the bottom and the price is above the Asian Range and the Pivot, we might keep an eye for a long entry.
Williams Fractals with Alerts by MrTuanDoanCustom William Fractals for alerts and educational purpose.
Added custom alerts for Williams Fractals.
Also added filter to show less fractals on chart.
The simple idea how I use fractals in Binary Option is to determine temporary resistance and support.
Simple strategy:
- Mark Resistance/Support on higher time frame (e.g. 5M)
- Set an alert for new fractal
- Whenever a new fractal that appears close to your marked Resistance/Support, go to lower time frame (e.g. 1M)
- Wait for rejection at the level that lower than new down fractal (or higher than new up fractal).
- Enter with the same expiry of lower time frame.
Good luck and happy trading. :-)
MESA Adaptive Moving Average - Improved MTFThis indicator is a huge upgrade to my original MTF MESA
Plots are now extremely smooth and accurate on all timeframes **
Missing data points are automatically filled with the "best fit"
This is a Trend indicator and should be used to trade "top-down" aka:
Start with the Daily chart to confirm a trend
Move to 4H
2H
Etc...
Use your favorite entry method or simply watch for wicks forming when the price gets near the MESA adaptive moving average.
This is one of the few indicators that I've been using for years with success. Being able to plot both the current & higher timeframe MESA
can sometimes feel like cheating.
Due to the nature of the recursive calculation, you may notice slight differences between this version of MESA and others that either
approximate higher timeframes with fewer samples or make use of the latest "Resolution" argument in Pinescript V4. Both of which are
fine, until you start looking at M5 charts while plotting the Daily MESA.
As always, happy trading!
** Currently supports
M 1,3,5,15,30,45
H 1,2,3,4
Day 1
Week 1
Month 1
Pivot LinesThis indicator provides possible short, medium, and long-term support and resistance levels based on recent highs and lows. The furthest the level is, the thicker its line is, making it easy to spot stronger levels where 2 lines overlap. It can be configured to use open/close values instead of high/low for tighter levels.
Default settings:
- Short Period: 20
- Medium Period: 50
- Long Period: 100
This script also provides alerts for when the price crosses over/under a given level or pulls back.
Note: It sometimes displays supports above the price and resistances below it, I still have to figure out why (and fix it if possible), but it's still useful.
Strategy MACD vs BBStrategy based on MACD and Bollinger Bands, where BBs are calculatend from macd signal.
Strategy doesn't open at breakout of bands but it waits for a pullback.
Upper and lower bands are used as resistance and support.
There are various parameters that can be optimized.
I have also a study with alerts.
Please use comment section for any feedback or cointact me if you need support.
