Stoch/RSI with EMA50 Cross & HHLLA hybrid but simple indicator that plots 4 strategies in one pane .
1) RSI Indicator
2) Stoch RSI
3) EMA50 Cross (To determine direction in current timeframe)
4) Higher Highs & Lower Lows to analyze the trend and break of trend
The relative strength index (RSI) is a momentum indicator used in technical analysis. It is displayed as an oscillator (a line graph) on a scale of zero to 100. When the RSI indicator crosses 30 on the RSI chart, it is a bullish sign and when it crosses 70, it is a bearish sign.
The Stochastic RSI (StochRSI) is also a momentum indicator used in technical analysis. It is displayed as an oscillator (a line graph) on a scale of zero to 100. When the StochRSI indicator crosses 20 on the RSI chart, it is a bullish sign and when it crosses 80, it is a bearish sign.
The EMA50Cross denotes two cases in the script:
a) A crossover of CMP on the EMA50 is highlighted by a green bar signals a possible bullish trend
b) A crossunder of CMP on the EMA50 is highlighted by a red bar signals a possible bearish trend
The HHLL is denoted by mneumonics HH, HL,LH, LL. A combination of HHs and HLs denotes a uptrend while the combination of LLs and LHs denoted a downtrend
The current script should be used in confluence of other trading strategies and not in isolation.
Scenario 1:
If a EMA50Cross over bar (GREEN) is highlighted with the StochRSI below 20 and the given script is plotting HHs and HLs, we are most likely in a bullish trend for the given timeframe and a long can be initiated in confluence with other trading strategies used by the user. The RSI signal may now be utilized to determine a good range of entry/exit.
Scenario 2:
If a EMA50Cross under bar (RED) is highlighted with the StochRSI above 80 and the given script is plotting LLs and LHs, we are most likely in a bearish trend for the given timeframe and a short can be initiated in confluence with other trading strategies used by the user. The RSI signal may now be utilized to determine a good range of entry/exit.
Disclaimer:
The current script should be used in confluence with other trading strategies and not in isolation. The scripts works best on 4H and 1D Timeframes and should be used with caution on lower timeframes.
This indicator is not intended to give exact entry or exit points for a trade but to provide a general idea of the trend & determine a good range for entering or exiting the trade. Please DYOR
Credit & References:
This script uses the default technical analysis reference library provided by PineScript (denoted as ta)
Cerca negli script per "the script"
MZ HTF HFT ROCit Bot - Non Repainting Scalper v1.2 ADX RSI MOM This is a new iteration based on my Momentum trading bot.
This is an original script meant to be a high frequency trader that works on higher time frame calculations.
I came up with the idea that using calculus I can figure out the actual rate of change and momentum with different calculations than the momentum indicator that is provided by trading view. Once momentum is shifted on a small time frame, it will provide an entry signal. The script is meant to be used on an algorithmic trading system for scalping purposes. It should be run on a one minute time frame. Unfortunately due to various plotting constraints in Pinescript, you cannot plot the rate of change and momentum and price in the same pane. To counter this, I have a showdata toggle to give you values of the indicators at each entry.
This version has two main entry settings toggled with a checkbox. There is the ROC (rate of change) version and the MOM (momentum) entry signals.
The rate of change version is meant to take a look at your moving average and try to trigger when it hits a certain rate of change point. This can be helpful if you rather play it safer. I have noticed that you can get slightly better entry points but also does not give you as many entries. The momentum algorithm will give you faster entry points and might work best with a slight offset (use your back test to help you figure it out).
I have started to add tooltips to help you along. If you have suggestions please let me know.
How does it work?
Let's just assume that you are looking at a one minute chart. I recommend using the one minute for bots because it will give you the fastest execution for entries. Pinescript has an issue where the signal is not usually sent until the end of the bar/beginning of next bar. If the signal was triggered at the beginning of a 15 minute bar, it might not actually send the signal until the following 15 minute bar. If you are trading on small time frames, this can make all the difference. If you are using an algo platform that trailing stops, stop losse, take profits, etc. I would recommend you use that platform to close your trade. The close trade message will work, but pinescript does not know the exact entry price you received, so if you are trying to collect small profits, it is best that intermediary platform does that calculation for you. If you are dealing with larger moves, instead of small 1-3% scalps, you are probably fine to use the close message setting from pinescript.
Ok, so to take an example. I like to use the 3L and 3S tokens on Kucoin. This gives you a lot of volatility to work with compared to other tokens and coins. However, it can also meas that you are likely taking a higher risk. However, there are some things that can help with that (more on that later).
So we have a token we want to run, and have it on the 1m chart.
First, be sure that all of your filters are OFF when you start playing with the back test. This allows you to see how to best optimize the bot.
Use the show data to show you additional data when you are backtesting. This can allow you to try to filter out results or market conditions that do not work. I typically work with the RSI and use the 30 minute and 15 minute RSIs. I make sure that it is trading within a certain band - about 40-75. You can try the inverse and only buy during really low RSI's as well.
www.dropbox.com
Find the source of your data with the variant drop down. You can use any time frame, open, close. high, low, olc4. Open is pretty much guaranteed to not have any repainting issues - although all the other calcs use a custom isbarconfirmed security repaint calculation. I have been finding that Open and SMA work well, but feel free to explore. If you use a source like open, close, high, low, etc - the interval will not change anything further. If you use a variant such as an sma, you should try to find an interval that works well for that token. For instance, try an sma of 8-11 minutes and see which gives you the best backtest result without changing anything else. Offset ALMA/LSMA parameters are only used for those specific variants. These specific parameters will also affect the ALMA and LSMA if you use that variant in the trend filter. In other words, you can skip these if you are not using those types of moving averages.
www.dropbox.com
Configure the ROC and MOM intervals. If you are using a source such as open, close, etc- this is where you set the interval for your change. So consider using OHLC4 or a interval of 5 thru 15 and see what works best. The Momentum inverval usually works best in the 2-5 bars. There is a custom calculation I added in to try to filter out false entries as momentum is waning. This calculation works best in 2-5 bar interval.
Configure the trigger point and offset. If you are using rate of change, the best settings will likely be between -1 to 0.5. If you are using momentum, you will likely want -20 to 10. This is where you will notice the entries will shift a bit. Try to find a balance between your backtest settings and actually finding what you thin will be the best entries based on a slight delay from trading view, to algo, to your trading platform. This can likely be a minute (maybe even) or so- so be sure to not get too caught up between the backtest results and be sure to finesse the entries to actually fit nicely - maybe a bar earlier than you would likely think. If your entries are coming in too early, you can use the offset to delay your entry by a few bars. This is both science and an art form- don't get too caught up on the back test results as that is based on having all the data tha already transpired, it's not based on how it will actually perform during deployment.
Take profit and stop loss. This should be self explanatory. This script can toggle between static take profit and a trailing profit. For scalping, you will likely want to limit it below 2% to get a good win ratio. Stop loss should be at least 5-6% for these types of 3L/3S tokens to give the strategy some room to move (if the token goes down 2% before it shoots back up, the price will go down 6%). This does not yield the best R/R ratio from a traditional trader perspective, but the statistical probabilities are in your favor for these events will happen. If you have better ideas for how to set this all up, feel free to contribute your ideas in the comments as we can all learn from each other. You can definitely set a much tighter stop loss with a larger take profit to get a lower win rate but in turn might get much better returns. It's all up to you.
FILTERS www.dropbox.com
These filters require you to know a bit about each indicator and how you want to use them. I will only go over the general idea.
Variant Filter - this is especially useful if you want to trade above a moving average. Say for instance you only want to take trades when we are over the 100 Day moving average. Or above a 30 minute, 30 bar EMA, etc. Although originally ported over from my other scripts, this is not a filter that I use often in conjunction with this script.
RSI - perhaps you want to buy when we are below the 30 line on the 30 minute RSI, or we want only want to have the strategy work when we are above the 50 RSI, this can all be configured here. I typically like to try a few different rationales here.
Now with brand NEW ADX filter - this is a brand new idea that seems to work rather well. Based on your ADX settings you can also turn on the "only uptrend" which will try to calculate if you are in an uptrend based on your ADX config. Please keep in mind that uptrend is based relatively on the ADX settings.
- There is a sprinkle of RSI magic in the entry signal to make sure that rsi is not declining in the calculation, so this can affect how many entries you get.
Some other tips:
Forward test.
Set up your algo bot on a one minute interval.
Set up take profit and stop loss on your algo trading platform.
Don't use the exact settings as your backtest, maybe try a slightly more conservative approach from the algo trading platform to make sure you are within range of triggering your events with a slight delay from signal to execution. If you have a 1.6% take profit, perhaps try 1.5% on your platform first.
By using these scripts you agree that you are trading at your own risk. I make no guarantees of returns or results. I just provide tools to help you trade better. However, I hope this ROCit will take you to the moon. And if it does, be sure to give me a shout as well as some tips of your own.
Send me a message with any questions or suggestions.
MTFindicatorsQuite recently TradingView added the possibility to create and use Libraries in PineScript. With this feature PineScript became higher quality of coding language overnight. Libraries enable splitting your code into multiple files, providing easier access to code reusability.
I was working on a script which included 3000 lines of code, which was recompiling 1:30 min, and recalculating over 1 minute as well. So I split it into 2 parts: main part + library containing "main logic", which I reuse in variety of scripts, but don't change too often. Result? Now recompilation of my main script takes 10 and recalculation 8 seconds!!!. I instantly fell in love with libraries.
Having said that, and being dedicated hater of security() calls, I have decided to publish a library of MTF indicators created with my own approach: "dig into formula". I have explained reasons for such approach in desription to this script:
So this library script will be a set of indicators reaching to higher timeframes. Just include one line at the beginning of the script you are creating:
import Peter_O/MTFindicators/1 as LIB
and then somewhere is the code add this line:
rsimtf=LIB.rsi_mtf(close,5,14)
All of a sudden you have access to rsimtf from 5x higher timeframe without any hassle :)
I start with RSI MTF, next ones will be ADX, Stochastic and some more. I will update this library with them here as well. Feel free to request particular indicators in comments. Maybe PSAR? Maybe Bollinger Bands?
PriceCatch Crypto Screener IOHi,
TradingView community and Crypto traders. Warm Greetings.
PriceCatch Crypto Screener.
I am sharing a script that screens the following Crypto.
ADAUSD, ALGOUSD, AMPUSD, ATOMUSD, AUCTIONUSD, AVAXUSD, BTCUSD, BTRSTUSD, CHZUSD, DAIUSD, DOGEUSD, DOTUSD,
EOSUSD, ETHUSD, FETUSD, FXUSD, JASMYUSD, LINKUSD, LRCUSD, MANAUSD, MATICUSD, NUUSD, OMGUSD, OXTUSD,
SHIBUSD, SKLUSD, SNXUSD, SOLUSD, TRIBEUSD, USTUSD, XLMUSD, XTZUSD, YFIUSD, ZRXUSD
Once this script is added to your chart and the resolution is set, it will automatically keep watching for any breakout on the above Crypto and display the results on chart for your attention. You may use the settings option of the script to screen on different time-frames. For example, you may manually select 30Min, 1H, etc., to scan on the respective time-frames. This way, you can quickly spot any opportunities emerging on different time-frames. The Screener runs independently of any symbol displayed on your chart.
NOTE - PRIOR TO USING THIS SCRIPT:
Please remember that the script is shared with absolutely no assurances about usability and any warranties whatsoever and as a responsible trader, please satisfy yourselves thoroughly and use it only if you are convinced it works for you. Remember, you are 100% responsible for your actions. If you understand and accept that, you may use the script.
QUERIES/FEEDBACK
Please PM me or leave comments.
Regards to all and wish everyone all the best with trading.
Exponential MA Channel, Daily Timeframe (Crypto)Moving averages are some of the most common tools for traders. Some of the most widely used ones are simple moving averages (e.g. 20SMA, 50 SMA, 100 SMA, 200SMA,...). There are endless combinations of moving averages that can be used. I prefer to use exponential moving averages because they react more quickly to price data (essentially they filter back through the data over a discrete number of timesteps, with more recent history receiving the highest weighting in the final calculation).
This script uses a combination of the 21EMA, 53 EMA, and 100EMA. The idea of this script is to provide insight into when an asset might be close to a local top/bottom by monitoring price within the middle channel (yellow, blue, and orange lines), as well as identifying longer timeframe opportunities to buy/sell by examining the upper (green) and lower (red) bands. Disclaimer: this is not a guarantee that if price enters a region, that it will be a top or bottom, it is simply an indicator to get an idea based on price history.
As far as I know, this particular combination of exponential moving averages has not yet been published. I do not have an infinite amount of time to check through the entire library of published scripts. If someone else has already done this, I was unaware. Numerical computations were performed on ETHBTC price data in order to find the coefficients used in this script. Essentially, each EMA has a multiplier of either 1, a fraction of 1, or a number larger than 1 (these are the numbers in the script being multiplied by 'out1', 'out2', 'out3'; feel free to change these and see how this changes the indicator). I have found it to be useful for myself, and hope other people can tinker with this idea. My only wish is to allow other people to use this starting point to explore for themselves. I hope that I am allowed to publish this script without it being taken down so that others can freely use it.
Recommendations: although this was fit specifically for ETHBTC, it appears useful for many crypto pairs, specifically alt-BTC pairs and crypto-USD pairs. For example, I have found it useful for BTCUSD, ETHUSD, LINKUSD, LINKBTC, ETHBTC, ADABTC, etc. Only use on the DAILY timeframe.
How to use Leverage and Margin in PineScriptEn route to being absolutely the best and most complete trading platform out there, TradingView has just closed 2 gaps in their PineScript language.
It is now possible to create and backtest a strategy for trading with leverage.
Backtester now produces Margin Calls - so recognizes mid-trade drawdown and if it is too big for the broker to maintain your trade, some part of if will be instantly closed.
New additions were announced in official blogpost , but it lacked code examples, so I have decided to publish this script. Having said that - this is purely educational stuff.
█ LEVERAGE
Let's start with the Leverage. I will discuss this assuming we are always entering trades with some percentage of our equity balance (default_qty_type = strategy.percent_of_equity), not fixed order quantity.
If you want to trade with 1:1 leverage (so no leverage) and enter a trade with all money in your trading account, then first line of your strategy script must include this parameter:
default_qty_value = 100 // which stands for 100%
Now, if you want to trade with 30:1 leverage, you need to multipy the quantity by 30x, so you'd get 30 x 100 = 3000:
default_qty_value = 3000 // which stands for 3000%
And you can play around with this value as you wish, so if you want to enter each trade with 10% equity on 15:1 leverage you'd get default_qty_value = 150.
That's easy. Of course you can modify this quantity value not only in the script, but also afterwards in Script Settings popup, "Properties" tab.
█ MARGIN
Second newly released feature is Margin calculation together with Margin Calls. If the market goes against your trades and your trading account cannot maintain mid-trade drawdown - those trades will be closed in full or partly. Also, if your trading account cannot afford to open more trades (pyramiding those trades), Margin mechanism will prevent them from being entered.
I will not go into details about how Margin calculation works, it was all explainged in above mentioned blogpost and documentation .
All you need to do is to add two parameters to the opening line of your script:
margin_long = 1./30*50, margin_short = 1./30*50
Whereas "30" is a leverage scale as in 30:1, and "50" stands for 50% of Margin required by your broker. Personally the Required Margin number I've met most often is 50%, so I'm using value 50 here, but there are literally 1000+ brokers in this world and this is individual decision by each of them, so you'd better ask yourself.
--------------------
Please note, that if you ever encounter a strategy which triggers Margin Call at least once, then it is probably a very bad strategy. Margin Call is a last resort, last security measure - all the risks should be calculated by the strategy algorithm before it is ever hit. So if you see a Margin Call being triggred, then something is wrong with risk management of the strategy. Therefore - don't use it!
Tick Data DetailedHello All,
After Tick Chart and Tick Chart RSI scripts, this is Tick Data Detailed script. Like other tick scrips this one only works on real-time bars too. it creates two tables: the table at the right shows the detailed data for Current Bar and the table at the left shows the detailed data for all calculated bars (cumulative). the script checks the volume on each tick and add the tick and volume to the specified level (you can set/change levels)
The volume is multiplied by close price to calculate real volume .There are 7 levels/zones and the default levels are:
0 - 10.000
10.000 - 20.000
20.000 - 50.000
50.000 - 100.000
100.000 - 200.000
200.000 - 400.000
> 400.000
With this info, you will get number of ticks and total volumes on each levels. The idea to separate this levels is in order to know which type of traders trade at that moment. for example volume of whale moves are probably greater than 400.000 or at least 100.000. Or volume of small traders is less than 10.000 or between 20.000-50.000.
You will get info if there is anomaly on each candle as well. what is anomaly definition? Current candle is green but Sell volume is greater than Buy volume or current candle is red but Buy volume is greater than Sell volume . it is shown as (!). you should think/search why/how this anomaly occurs. You can see screenshot about it below.
also "TOTAL" text color changes automatically. if Buy volume is greater than Sell volume then its color becomes Green, if Sell volume is greater than Buy volume then its color becomes Red (or any color you set)
Optionally you can change background and text colors as shown in the example below.
Explanation:
How anomaly is shown:
You can enable coloring background and set the colors as you wish:
And Thanks to @Duyck for letting me use the special characters from his great script.
Enjoy!
SR Levels - Major Support and Resistance LevelsHello Traders!
This Indicator helps you to identify Major support and resistance level. Major Vibration numbers are working as support & resistance in the many scripts as I have seen. Since I have my research about the vibration numbers, I strongly believe these numbers are works as good Support & Resistance. This is just try to idendify the those number to enter into the trade. Use Other indicators to Identify Trend and for your support!
When Price move low to high:
1) Green Line works are buy entry point, TP area is Red Line, SL area also Red Just below the Green Line
When Price Move High to Low:
1) Red Lines are works as Sell entry point, TP are Green Line, SL area also Green Lines just above the Red Line.
Notes: This Indicators is mainly focus the script which more than 5 digit scripts. Example above 10000 price scripts only.. for Intraday. below 10000 or 1000 scripts also works but for long term not for intraday...
NSE:BANKNIFTY
Fixed Reference Relative StrengthRelative Strength based on a fixed reference session date. This study works on day timeframe only.
The idea here is to "fix" a reference trading session day. The relative strength of subsequent candles are measured based on this reference day only. Relative strengths of bars before this bar is irrelevant and not plotted. As the plotting of the bars advances, the length is automatically adjusted so that the base reference is the "fixed" reference only. The RS value is multiplied by 100 to give a percentage value.
The other Relative Strength indicators that I have published (and other Relative Strength scripts generally available on TradingView), generally take a fixed length as input and that has to be advanced each trading session. What this results into is that only the "latest bar" RS is compared to the "reference" session date. All the RS values prior to this latest bar is actually compared to days previous to the reference date.
In the example above, we have input 13-Feb-2020 as the "fixed" reference trading session day. Starting from 14-Feb-2020, each session day, we calculate the RS always with respect to 13-Feb-2020, unlike the other scripts. When the RS value of today, 08-Sep-2020 is being calculated, it is using 13-Feb-2020 (as the other scripts do when the length is advanced one day each trading session day). However, when the RS value of 07-Sep-2020 is being calculated today (08-Sep-2020), it is still using 13-Feb-2020 as the reference. In the other scripts, a calculation of RS for 07-Sep-2020 on 08-Sep-2020 would have taken 12-Feb-2020 as the reference value.
This plot thus gives the exact performance of the script with respect to the benchmark index from the fixed reference each day. A performance trend is therefore possible to do on this plot.
TradeChartist PowerTracer Pro Backtester™TradeChartist PowerTracer Pro Backtester is the strategy script for backtesting ™TradeChartist PowerTracer Pro for best performance settings which can then be used with ™TradeChartist PowerTrader Pro to plot Trades emulating the backtester and use Alerts (once per bar) on real time price chart.
PowerTracer Backtester includes the following options in the settings.
PowerTracer setting - Power Plot Type - (PowerTracer, Bar-wise Power Holder)
PowerTracer setting - Timeframe Multiplier
PowerTracer setting - Smoothing Factor
Backtester setting - Trade Direction - (Both Longs and Shorts, Only Longs, Only Shorts)
Backtester setting - SL Type (Fixed Stop Loss, Trailing Stop Loss)
Backtester setting - Reference for Trailing SL (Close, High/Low)
Backtester setting - Stop Loss %
Backtester setting - Take Profit %
Backtester setting - Quantity to trade at TP %
Using combinations of the settings, the user can find optimal settings for the asset to deliver lucrative entry and exit signals with high ROI and minimal Drawdown which can then be used on PowerTracer Pro and PowerTrader Pro to plot signals and create alerts to start trading in real-time.
Example charts:
GBP-USD 1hr chart - (2,1,Trailing SL, close, 1,1,25)
BTC-USDT 15m chart - (4,5, Trailing SL, high/low, 3.9,1.2,15)
SPX 1hr chart - (1,3, Trailing SL, high/low, 3, 2, 50)
This backtester needs the following scripts to generate signals and plots on main price chart and for real-time alerts
™TradeChartist PowerTracer Pro
™TradeChartist PowerTrader Pro
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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Standard Deviation Measurement ToolIf you like the script please come back and leave me a comment or find me on the interwebs. I get notified you "liked" it... but I have no idea if you actually use it. So, let me know =)
The script uses the open price as the mean and calculates the standard deviation from the open price on a per candle basis
- Goal: -
To establish a mean based on the Open Price and calculate the standard deviation.
The reason for this is if the Open is the mean, then the Standard deviation implies a standardized distance a given candle can be expected to travel
from the open price
- Edge: -
If you know that there is a 68%/95%/99.7% probability that price will NOT move more than
One Standard Deviation/Two Standard Deviations/Three Standard Deviations from the open price respectively
you can set reasonable price targets that relate to those probabilities in a given timeframe.
e.g. if you're on a 1h chart and your target is 3.5% from the open price, but 1 standard deviation of the hourly candle is equal to 0.78%.
You can make assumptions on either:
- The reasonableness of your target
or
- The holding period likely required for the trade.
Also, Standard Deviation is a function of volatility and this tool provides a unique mechanism for measuring volatility as well on a candle by candle basis
- Customization Options-
- Set 3 independent upper and lower standard deviations.
- Each set of standard deviations are on a switch so you can show 1, 2, or 3 sets of standard deviations
- You can set the distribution width
- Though it's not recommended, you can change the mean source.
- There is a switch to show the standard deviation on only the real-time bar or real-time and historical bars.
- How I Think About This Script -
This strategy is predicated the same principle as Bollinger Bands: the reality that 68% of all data points will fall within one standard deviation of the mean, 96% of all data points will fall within two standard deviations, and 98% of al data points will fall within 3 standard deviations. By understanding the standard deviation, you can possibly infer an edge by understanding the probabilistic range price will be bound to the limits of standard deviation rules according to their probabilistic outcomes for the single candle on any given timeframe. Bollinger Bands are designed to provide this information with the mean being a 20-period moving average and this indicator.
This indicator is designed to provide standard deviation information with the mean being based on the distance price travels away from the open of individual candles in the lookback period.
If you use a strategy where you enter on major candle closes, this can be useful to set targets for those entries based on the intended hold period or at least add/remove validity to other target metrics.
Example:
Your target is at the 1.618 Fibonacci level and your confirmation triggers on the 4h candle close (H4 if that's your thing lol). You set up the indicator based on the standard deviation of price movement in 4h candles over the last week.
Let's say the indicator shows that the 1.618 Fibonacci level is 3 standard deviations away.
This being the case this statistically indicates that within the next 4 hours, you have a very low probability of achieving your target (>2%). This doesn't invalidate your target, but it does indicate a low probability of achieving it in the next 4hrs. With this information, you can infer that you are either going to be (a) really lucky (b) in this trade for a lot longer than 4hrs or (c) your target is unrealistic given your intended hold period.
You can develop a more probabilistically favorable hold period calculation by looking at the standard deviation on a higher time frame (e.g. 1d-1w).
Bonus feature: You'll find that the 2 and 3 standard deviations will often "cluster" and these clusters often provide future S/R levels. That's a pretty sweet feature no one things to look for. But, try it. Find a cluster of 2nd and 3rd stdevs that are in somewhat of a horizontal pattern (usually the result of a range) and you'll find that to be a good s/r area. Even better if you use the 3.2 standard deviation, you'll find that is a fantastic breakout signal!
Summary
So, you can use it for target setting, a confluence test, a reasonableness test, or just a measurement tool.
This was the first TV script I ever wrong.. Got taken down. But, I've re-released it because there are other TV scripts that attempt to do this but are completely wrong.
Please be careful about using other people's scripts. Always validate the math of the script before you use it if possible.
Stay safe out there and I hope all your dreams come true.
BullTrading 15 Min Daily Retracement Channel V2.0Hi Traders, I have been received tons of private messages asking me access to my previous scripts. Please let me apologize for not being able to answer all messages. Once you publish a script in Tradingview you can manage individual access to the script but there is no option to open the script after being published.
For that reason I decided to open this script for you, this indicator implements many of the best features contained in previous "invite only scripts". It is designed to display alerts for day trading and short term swings using the 15m Timeframe.
How to use "BullTrading 15 Min Daily Retracement Channel V2.0" indicator?
This indicator is experimental but works if the trader applies good judgment and risk management. Neither myself or BullTrading Asset Management is or will be responsible for any live trading loss using this script, so please use it on Demo.
ALWAYS USE PENDING ORDERS!! It is always much better to wait price using your Fibonacci Retracement tool or the indicator reference lines.
Set Buy signals AT THE CLOSE of yellow candlesticks.
Set Sell signals AT THE CLOSE of fuchsia candlesticks.
Most of the time Buy/Sell signals will react with too much anticipation so you can wait for the price to form enough fractals in order to analyze your entry levels, risk management, SL's and TP's.
AVOID AT ALL COSTS to enter the market immediately after a signal. WAIT for fractal formations to confirm reversals. I will say it AGAIN: Use only pending orders and AVOID market execution orders!
If your order is already filled and the moving average changes color or the price consolidates in your entry level it is better to trail tight your SL, exit the trade with small loss or Break Even instead of waiting for a full Stop Loss exit (this conditions usually indicate trend continuations against the indicator signals).
If the market goes against the signal, THINK and use the indicator lines and channels to match a level using your Fib retracement tool. Applying this criteria will lead for better entry levels in the opposite direction.
Feel free to comment suggestions.
Best Regards
GustavoRubi
Troop ToolkitGENERAL OVERVIEW:
The Troop Toolkit indicator by Flux Charts is an all-in-one toolkit to identify Multi-Timeframe First Fair Value Gaps, Multi-Timeframe Inversion First Fair Value Gap, Fair Value Gaps, Buyside & Sellside Liquidity Levels, SMT Divergences, EQ Ranges, Efficient Candle Ranges, and Volume Imbalances. This indicator was developed by Flux Charts, utilizing concepts taught and traded by Andrew Macre.
ATTRIBUTION NOTICE:
This indicator incorporates concepts and source code from the indicator “Efficient Candle Range (ECR)” authored by @Joeyheick on TradingView. We have received full written permission from the original author to use and commercialize this code within this invite-only script.
Original script: Efficient Candle Range (ECR):
TROOP TOOLKIT FEATURES:
The Troop Toolkit indicator includes 8 main features:
Multi-Timeframe First Fair Value Gaps (FFVG)
Multi-Timeframe Inverse First Fair Value Gaps (IFFVGs)
Fair Value Gaps (FVG)
Buyside & Sellside Liquidity Levels
SMT Divergences
EQ Ranges (EQR)
Efficient Candle Ranges (ECR)
Volume Imbalances (VI)
Multi-Timeframe First Fair Value Gaps (FFVG):
The first feature of this indicator is Multi-Timeframe First Fair Value Gaps (FFVG). These are the first Fair Value Gaps (FVG) that form after a swing high or low is created.
🔹What is a Fair Value Gap?:
To properly understand First Fair Value Gaps (FFVGs), you must understand what a Fair Value Gap (FVG) is. A FVG is an area where the market’s perception of fair value suddenly changes. On your chart, it appears as a three-candle pattern: a large candle in the middle, with smaller candles on each side that don’t fully overlap it. A bullish FVG forms when a bullish candle is between two smaller bullish/bearish candles, where the first and third candles’ wicks don’t overlap each other at all. A bearish FVG forms when a bearish candle is between two smaller bullish/bearish candles, where the first and third candles’ wicks don’t overlap each other at all.
Examples of Bullish & Bearish FVGs:
🔹Why are Fair Value Gaps important?:
Fair Value Gaps show where price moved so quickly that one side of the market never got a chance to trade. They represent sudden shifts in what traders believe something is worth, where “fair value” changed. When a large candle drives straight through an area without overlap from the candles before and after it, it means buyers or sellers were so aggressive that the market skipped that price zone entirely.
These gaps matter because they mark the moment when confidence in price changes. If price rallies and never pulls back, it signals that traders accept the new higher prices as fair and are willing to keep buying there. The same logic applies in reverse for bearish gaps. They tell you where the market re-priced aggressively and where value was last accepted.
🔹What is a First Fair Value Gap?:
A First Fair Value Gap is the very first fair value gap that forms immediately after a new swing high or swing low. It marks the first sign of imbalance following a key turning point in price.
When a major swing low forms, the first bullish FVG that appears afterward shows where buyers first stepped in with enough strength to shift momentum upward. When a swing high forms, the first bearish FVG that appears afterward shows where sellers first regained control.
Because it’s tied directly to a confirmed swing point, an FFVG carries more weight than a regular FVG that forms randomly in the middle of a large move. It identifies where a new phase of price delivery begins, which is the first sign that the market is repricing after completing a prior leg.
🔹How are First Fair Value Gaps Detected?:
The indicator identifies First Fair Value Gaps (FFVGs) by starting with a swing high or swing low, which is detected using the 5-minute timeframe.
A swing high is formed when a candle’s high is higher than the two candles before and after it.
A swing low is formed when a candle’s low is lower than the two candles before and after it.
Each time a new swing high or low is confirmed, the indicator marks that area as a “pivot.” From that moment, the script begins looking for the first valid Fair Value Gap that forms after that swing.
To identify a First Fair Value Gap (FFVG), you should first identify a swing high and swing low. These are the most recent highest and lowest areas price reached. A bullish FFVG is the first bullish FVG that forms after a swing low. A bearish FFVG is the first bearish FVG that forms after a swing high.
This indicator automatically detects bullish and bearish FFVGs across the 1-minute, 2-minute, 3-minute, 4-minute, and 5-minute timeframes simultaneously. You will only be able to view FFVGs from timeframes that are equal to or less than your chart’s timeframe. For example, if you are using a 3-minute chart, you’ll only be able to view 1-minute, 2-minute, and 3-minute FFVGs, but not 4-minute or 5-minute FFVGs.
In the indicator settings, under the “FFVGs” section, you can toggle on/off which timeframes are used for FFVG detections. The following settings correspond to the following timeframes:
1 → 1-minute timeframe
2 → 2-minute timeframe
3 → 3-minute timeframe
4 → 4-minute timeframe
5 → 5-minute timeframe
In this screenshot, the chart timeframe is set to the 5-minute, and all the FFVG timeframes are enabled in the settings. Thus, 1-minute, 2-minute, 3-minute, 4-minute, and 5-minute FFVGs will be displayed on the chart.
The ‘Sweep Proximity’ setting determines how soon after a swing high/low the indicator will show the First Fair Value Gap. After a high/low forms, the indicator looks for the very first gap that forms and shows it, but only if it appears within the number of bars you choose. This distance is measured using your current chart timeframe. For example, on a 1-minute chart, a value of 6 means the FFVG must form within 6 bars (6 minutes) after the high/low is detected. Smaller values show only the most immediate FFVGs after a high/low forms. Larger values allow FFVGs to be detected farther away from the high/low, which may display more zones but can increase chart clutter. The default value is 6.
Users can also customize how FFVG zones appear. The settings let you change the color and transparency of bullish and bearish FFVGs, turn the midline on or off, and enable or disable FFVG labels. When labels are enabled, they show the timeframe the FFVG came from, making it easy to identify whether it was detected on the 1m, 2m, 3m, 4m, or 5m chart.
Multi-Timeframe Inversion First Fair Value Gaps (IFFVG):
The second feature of this indicator is Multi-Timeframe Inversion First Fair Value Gaps (IFFVG). These form when a FFVG is invalidated by a candle close on the 5-minute timeframe.
Bullish IFFVG: A bullish IFFVG forms when a 5-minute candle closes above a bearish FFVG, invalidating it.
Bearish IFFVG: A bearish IFFVG forms when a 5-minute candle closes below a bearish FFVG, invalidating it.
The IFFVGs will be displayed from all the timeframes that are enabled for FFVGs. For example, if only the 1-minute, 2-minute, and 3-minute FFVGs are enabled, then only IFFVGs from the 1-minute, 2-minute, and 3-minute timeframes will be displayed.
Users can also customize how IFFVG zones appear. The settings allow you to change the color and transparency of bullish and bearish IFFVGs, adjust the color of IFFVG borders, the thickness of the borders, turn the midline on or off, and enable or disable IFFVG labels. When labels are enabled, they show the timeframe the IFFVG came from, making it easy to identify whether it was detected on the 1m, 2m, 3m, 4m, or 5m chart.
Fair Value Gaps (FVG):
The indicator automatically detects regular bullish and bearish Fair Value Gaps (FVG). However, the indicator only plots FVGs that are NOT First Fair Value Gaps. This prevents FVGs and FFVGs from overlapping each other. There is no style customization for Fair Value Gaps. Users can only toggle them on or off through the indicator settings.
Liquidity Levels:
The indicator automatically plots Buyside & Sellside liquidity levels using user-specific session highs/lows and swing highs/lows.
Sessions used and their time periods (in EST):
Asia Session (20:00 - 00:00)
London Session (02:00 - 05:00)
NY AM Session (09:30 - 11:00)
NY PM Session (14:00 - 16:00)
All highs/lows that have not been ‘swept’, meaning price never crosses above (for highs) or below (for lows), will remain plotted on the chart. After a level is swept, it will become gray.
Swing Highs/Lows are plotted using the color selected from the ‘Colors’ setting under the ‘Liquidity Levels’ section. These levels are plotted with the following labels “ SSL” for lows and “ BSL” for highs. For example, “5M SSL” would be a 5-minute low.
The Asia Session Highs/Lows are plotted yellow with the following labels “Asia Low” & “Asia High”
The London Session Highs/Lows are plotted green with the following labels “London Low” & “London High”
The NY AM Session Highs/Lows are plotted orange with the following labels “NY AM Low” & “NY AM High”
The NY PM Session Highs/Lows are plotted blue with the following labels “NY PM Low” & “NY PM High”
Users can toggle these levels on/off, toggle session highs/lows on/off, toggle text labels on/off, and customize the colors used for swing highs/lows.
SMT Divergence:
This indicator automatically highlights SMT Divergences that occur between the current selected chart ticker and a second user-selected ticker.
A SMT Divergence forms when the prices of the currently selected chart ticker and the user-selected ticker don’t follow each other. For example, if the current chart’s ticker symbol is SEED_ALEXDRAYM_SHORTINTEREST2:NQ and the user-selected ticker is $ES. If SEED_ALEXDRAYM_SHORTINTEREST2:NQ does not sweep the low of the NY AM Session, but NYSE:ES sweeps that same exact session’s low during the same candle, then a SMT Divergence is detected.
In the images below, SEED_ALEXDRAYM_SHORTINTEREST2:NQ and NYSE:ES form a low at 10:45 AM on August 27th. At 11:30 AM, the 10:45 AM low is taken out on $NQ. However, on NYSE:ES , price failed to take out this exact low at 11:30 AM. Thus, an SMT Divergence is detected, and a bubble is plotted on the SEED_ALEXDRAYM_SHORTINTEREST2:NQ chart.
NYSE:ES Chart:
SEED_ALEXDRAYM_SHORTINTEREST2:NQ Chart:
When hovering over the SMT Divergence bubble, a textbox will appear which includes more information about the current SMT Divergence. These text boxes can include one of the following messages:
$TICKER failed high/low
$TICKER took high/low
$TICKER failed high/low
$TICKER took high/low
“$TICKER failed high/low” and “$TICKER failed high/low”: This textbox message occurs when the chart’s symbol creates a new high/low after a high/low formed, but the user-selected ticker fails to create a new higher high or lower low (similar to the SEED_ALEXDRAYM_SHORTINTEREST2:NQ and NYSE:ES example images above).
“$TICKER took high/low” and “$TICKER took high/low”: This textbox image occurs when the user-selected ticker creates a new higher high / lower low after a high/low formed, but the chart’s ticker fails to create a new higher high or lower low.
The indicator uses the levels described above in the ‘Liquidity Levels’ section to detect SMT Divergences. This includes all the session highs/lows and swing highs/lows.
Users can toggle on/off SMT Divergences through the settings. They can also change the ticker used for detections. Since SMT Divergences occur by comparing two tickers, the inputted ticker within the settings will always be compared to the current selected ticker on your chart.
Users can also adjust the colors used for SMT Divergence bubbles at highs and lows. By default, green bubbles appear when an SMT Divergence occurs from a low, and red bubbles appear when an SMT Divergence occurs from a high.
EQ Range:
The EQ Range shows you where price is finding fair value during the New York session. It does this by comparing two VWAP levels: one influenced by global trading and one driven by New York session volume. When both are available, it plots a live zone between them.
This zone updates every bar and extends to the right, so you can see where price may consolidate, stall, or snap back toward during the New York session. The EQ Range only appears during the New York session.
Within the indicator settings, users can toggle the EQ Range zone on/off.
Efficient Candle Range:
Efficient Candle Ranges (ECR) mark areas where the market is moving smoothly without one side (buyers or sellers) moving price aggressively. An “efficient candle” is simply a candle where the body is small compared to the whole candle and the wicks are fairly similar in size. That means buyers and sellers both participated, and price wasn’t pushed too far in either direction.
When one of these candles forms, the indicator creates a zone using its high and low. If more efficient candles appear in a row, the zone can widen to include any new highs or lows they create. The box continues to extend forward as long as price stays inside it.
If price closes outside the top or bottom of the box, the zone is no longer active and visually fades out. While active, it shows where the market is moving in a controlled way, which typically leads to pauses, retests, or a strong move once price breaks out of the range.
Within the indicator settings, users can customize the active ECR zone color, inactive ECR zone colors, and the text color for ECR labels. ECRs can be toggled on/off as well.
Volume Imbalance:
A Volume Imbalance forms when one candle does not properly overlap the trading range of the previous candle. For example, if a bullish candle opens above the previous candle’s close and price did not trade back down into that gap, there was no two-way trade in that price region. That means sellers never had a chance to transact there. The same applies in reverse for bearish moves. When that happens, there is a “missing volume” zone between the two candles because one side of the auction was skipped.
When the indicator detects that kind of gap, where the open and close relationship between two candles leaves untraded space, it marks that area with a box labeled “VI.” A bullish volume imbalance means buyers pushed through a level without sellers trading back into it. A bearish volume imbalance means sellers drove price lower without buyers filling in behind them.
Once price has fully filled the gap, meaning it traded back between the area that was skipped, the gap is deemed as inactive and removed from the chart.
In the settings, users can toggle on/off Volume Imbalances and also adjust the colors for Bullish VIs and Bearish VIs.
Important Notes:
TradingView has limitations when running features on multiple timeframes, such as FFVGs and IFFVGs, which can result in the following restriction:
Computation Error:
The computation of using MTF features is very intensive on TradingView. This can sometimes cause calculation timeouts. When this occurs, simply force the recalculation by modifying one indicator’s settings or by removing the indicator and adding it to your chart again.
UNIQUENESS:
The Troop Toolkit indicator solves a major workflow problem that has never been automated before on TradingView. The most important piece: automatic detection of First Fair Value Gaps (FFVGs) and their proper conversion into Inversion First Fair Value Gaps (IFFVGs). These two concepts require strict rules, swing validation, multi-timeframe comparison, and invalidation logic that traders can currently only do manually. There is no other indicator on TradingView that handles FFVG + IFFVG logic correctly across multiple intraday timeframes at once. Before this tool was created, traders had to manually scan five different timeframes every day and track every first fair value gap that formed after a significant high/low was formed. This took hours each week and was prone to inconsistencies. Troop Toolkit automates the entire process with clear validation rules, making this the first indicator to fully operationalize FFVG + IFFVG workflow.
Tristan's Devil Mark (Short / Long, with W%R)The Devil’s Mark indicator is a visual tool designed to help traders identify potential short and long opportunities based on candle structure and market momentum. It combines price action analysis with the Williams %R (W%R) oscillator to highlight candles with high potential for reversal or continuation.
Can be used on any timeline, from scalping day trades to swing trades on daily and higher timelines. Know that the higher the timeline the less likely the indicator will show. (Asia and London sessions tend to show many indicators. I find this more useful for NY session.)
How the script works
Candle Structure Conditions
Short (Sell) Wedge: Plotted above green candles that have no bottom wick, indicating that inside that candle there was strong upward momentum without downside hesitation .
Long (Buy) Wedge: Plotted below red candles that have no top wick, indicating that inside that candle there was strong downward momentum without upside hesitation .
These candles are visually emphasized as wedges to mark potential turning points.
Williams %R Filter
The indicator uses Williams %R to measure overbought and oversold conditions:
Proximity to 0 (nearZeroThresh): Determines how close W%R must be to 0 (overbought) to trigger a Sell Wedge. This acts as a “Sell sensitivity” filter.
Proximity to -100 (nearHundredThresh): Determines how close W%R must be to -100 (oversold) to trigger a Buy Wedge. This acts as a “Buy sensitivity” filter.
When the candle meets both the candle structure and the W%R condition, the wedge is plotted in purple (“Within W%R Range”).
When the "ignore W%R filter" toggle is on, all eligible candles are plotted regardless of W%R. Wedges that normally would not meet W%R criteria are plotted in light purple (“Outside W%R Range”) to distinguish them. #YOLO (🚫 I recommend leaving "Ignore W%R Filter" OFF)
Settings Explained
Williams %R Length: The number of bars used to calculate the W%R oscillator. Shorter lengths make it more sensitive; longer lengths smooth the readings.
Proximity to 0 / 100: Controls how “strict” the indicator is in requiring overbought or oversold W%R conditions to trigger. Lower values mean closer to extreme zones, higher values are more permissive.
Ignore W%R Toggle: Option to show Devil’s Marks on every eligible candle regardless of W%R. Useful for visualizing purely price-action-based signals.
What the trader sees
Purple wedges: Candles meeting both candle structure and W%R conditions.
Light purple wedges: Candles meeting candle structure but ignored W%R (when toggle is on). #YOLO (🚫 I recommend leaving "Ignore W%R Filter" OFF)
Short opportunities are wedges above bars (green candles with no bottom wick).
Long opportunities are wedges below bars (red candles with no top wick).
Trading Insight
The Devil’s Mark is a momentum and reversal alert tool:
Look for purple downward-pointing wedges when W%R is near overbought. This is a potential shorting opportunity. Buying at the close of that candle may improve your short trades.
Look for purple upward-pointing wedges when W%R is near oversold. This is a potential
long opportunity. Buying at the close of that candle may improve your long trades.
Light purple wedges show the same price-action cues without W%R confirmation—useful for aggressive traders who want every potential setup. #YOLO #YMMV #noFullPort
Settings / Security
The “Output values” checkbox appears for each plotted series (like a plot or plotshape) and controls whether the series will also be exposed numerically in the Data Window or used by other indicators/scripts.
Here’s what it means in practice:
1. Checked (true)
The series values (like candle high, low, or any computed value) are exported to the Data Window and can be read by other scripts using request.security() or ta functions.
Example: You can see the exact numerical value of each plotted point in the Data Window when you hover over the chart.
Useful if you want to backtest or reference these plotted values programmatically.
2. Unchecked (false)
The series is plotted visually only.
The numeric values are hidden from the Data Window and cannot be accessed by other scripts.
Makes the chart cleaner if you don’t need the numeric outputs.
Moving Average Trend ToolsI. How M.A.T.T. Adds Value to the TradingView Community:
The "Moving Average Trend Tools" (M.A.T.T.) is a versatile Pine Script v6 indicator that empowers traders with clear trend analysis, reliable trade signals, and real-time insights. Its intuitive design and robust features make it a valuable addition to the TradingView Community Scripts by catering to traders of all levels. Here’s why it stands out:
Clear Trend Visualization: M.A.T.T. plots a moving average (MA) with dynamic coloring—green for rising, red for falling, and gray for flat—based on a user-defined lookback period. This simplifies trend interpretation, helping traders quickly assess market momentum.
Reliable Trade Signals : The script identifies price crossovers above or below the MA, plotting green circles for bullish crosses and red for bearish, confirmed on closed bars to prevent repainting. These signals guide entry and exit points for trend-following or reversal strategies.
Real-Time Extension Detection : M.A.T.T. calculates percentage price deviations from the MA, displaying real-time labels when thresholds (e.g., 6%) are exceeded. This highlights overextended moves, ideal for spotting reversals or pullbacks, with alerts to keep traders informed.
Extensive Customization : Traders can tailor the MA type (SMA, EMA, WMA, HMA), length, colors, line width, and label sizes. This flexibility supports diverse strategies across markets like stocks, forex, and crypto, from scalping to swing trading.
Automated Alerts : Alert conditions for crossovers and extensions integrate seamlessly with TradingView’s system, enabling traders to stay updated without constant chart monitoring.
M.A.T.T. combines trend analysis, signal generation, and overextension detection into a single, user-friendly tool. Its accessibility, reliability, and educational value for Pine Script learners make it a compelling contribution to the community.
II. What M.A.T.T. Does, How It Works, and Its Originality:
What It Does :
M.A.T.T. enhances trend analysis and trade decision-making through three core features:
Dynamic MA Visualization: Plots a customizable MA (SMA, EMA, WMA, or HMA) with trend-based coloring to reflect rising, falling, or flat market conditions.
Price Crossover Signals : Marks bullish (green circles) and bearish (red circles) crossovers, confirmed on closed bars, with alerts for trade opportunities.
Price Extension Labels : Displays real-time percentage deviations of price from the MA, with alerts when user-defined thresholds are breached, signaling potential reversals.
How It Works :
M.A.T.T. leverages Pine Script v6 for precise calculations and user-friendly outputs:
Inputs: Users select MA type, length, lookback period, colors, and thresholds for extensions, plus label styles and sizes for customization.
MA Calculation : A switch function computes the chosen MA (e.g., ta.ema(close, 21) for EMA). Trend direction is determined using ta.rising or ta.falling over the lookback period, coloring the MA accordingly.
Crossover Logic : Bullish crossovers (close > ma and close < ma ) and bearish crossovers (close < ma and close > ma ) are plotted as circles on confirmed bars (barstate.isconfirmed) to ensure reliability. Alerts trigger only on the first bar of a crossover.
Extension Logic : Percentage deviations are calculated as ((price - ma) / ma) * 100, using the high for above-MA extensions and low for below. Labels appear in real-time when thresholds are exceeded, with alerts on transitions to avoid noise.
Why It’s Original
M.A.T.T. distinguishes itself through a unique blend of features and thoughtful design:
All-in-One Design : It integrates dynamic MA coloring, non-repainting crossover signals, and real-time extension detection, addressing trend identification, trade signals, and overextension warnings in one tool—unlike most MA indicators that focus on a single aspect.
Real-Time Extension Labels : Displaying percentage deviations with customizable thresholds is a rare feature, ideal for volatile markets and not commonly found in standard scripts.
Non-Repainting Signals : Confirmed crossover signals enhance reliability for live trading, setting M.A.T.T. apart from less rigorous indicators.
Optimized Alert Condtions : Alerts trigger only on transitions (e.g., first bar of a crossover or extension), reducing noise and improving usability.
Visual and Functional Flexibility : Support for four MA types, extensive customization, and a clean interface (dynamic colors, tiny circles, clear labels) make it adaptable and user-friendly.
While MA plotting or crossovers exist elsewhere, M.A.T.T.’s seamless integration, real-time extension detection, alert conditions, and focus on reliability and customization create a distinctive, practical tool. Its balance of simplicity and sophistication makes it a unique asset for the TradingView community.
Fibonacci Retracement MTF/LOGIn Pine Script, there’s always a shorter way to achieve a result. As far as I can see, there isn’t an indicator among the community scripts that can produce Fibonacci Retracement levels (linear and logarithmic) as multiple time frame results based on a reference 🍺 This script, which I developed a long time ago, might serve as a starting point to fill this gap.
OVERVIEW
This indicator is a short and simple script designed to display Fibonacci Retracement levels on the chart according to user preferences, aiming to build the structure of support and resistance.
ORIGINALITY
This script:
Can calculate 'retracement' results from higher time frames.
Can recall previous time frame results using its reference parameter.
Performs calculations based on both linear and logarithmic scales.
Offers optional multipliers and appearance settings to simplify users’ tasks
CONCEPTS
Fibonacci Retracement is a technical analysis tool used to predict potential reversal points in an asset's price after a significant movement. This indicator identifies possible support and resistance levels by measuring price movements between specific points in a trend, using certain ratios derived from the Fibonacci sequence. It is based on impulsive price actions.
MECHANICS
This indicator first identifies the highest and lowest prices in the time frame specified by the user. Next, it determines the priority order of the bars where these prices occurred. Finally, it defines the trend direction. Once the trend direction is determined, the "Retracement" levels are constructed.
FUNCTIONS
The script contains two functions:
f_ret(): Generates levels based on the multiplier parameter.
f_print(): Handles the visualization by drawing the levels on the chart and positioning the labels in alignment with the levels. It utilizes parameters such as ordinate, confirmation, multiplier, and color for customization
NOTES
The starting bar for the time frame entered by the user must exist on the chart. Otherwise, the trend direction cannot be determined correctly, and the levels may be drawn inaccurately. This is also mentioned in the tooltip of the TimeFrame parameter.
I hope it helps everyone. Do not forget to manage your risk. And trade as safely as possible. Best of luck!
Helacator Ai ThetaHelacator Ai Theta is a state-of-the-art advanced script. It helps the trader find the possibility of a trend reversal in the market. By finding that point at which the three black crows pattern combines with the three white soldiers pattern, it is the most cherished pattern in technical analysis for its signal of strong bullish or bearish momentum. Therefore, it is a very strong predictive tool in the ability of shifting markets.
Key Highlights: Three White Soldiers and Three Black Crows Patterns
The script identifies these candlestick formations that consist of three consecutive candles, either bullish (Three White Soldiers) or bearish (Three Black Crows). These patterns help the trader identify possible trend reversal points as they provide an early signal of a change in the market direction. It is with great care that the script is written to evaluate the position and relationship between the candlesticks for maintaining the accuracy of pattern recognition. Moving Averages for Trend Filtering:
Two important ones used are moving averages for filtering any signals not in accordance with the general trend. The length of these MAs is variable, allowing the traders to be in a position to adapt the script for use under different market conditions. The moving averages ensure that signals are only taken in the direction that supports the general market flow, so it leads to more reliability within the signals. The MAs are not plotted on the chart for the sake of clarity, but they still perform a crucial function in signal filtering and can be displayed optionally for a more detailed investigation. Cooldown filter to reduce over-trading
This is part of what is implemented in the script to prevent generation of consecutive signals too quickly. All this helps to reduce market noise and not overtrade—only when market conditions are at their best. The cooldown period can be set to be adjusted according to the trader's preference, making the script more versatile in its use. Practical Considerations: Educational Purpose: This script is for educational purposes only and should be part of a comprehensive trading approach. Proper risk management techniques should be observed while at the same time taking into consideration prevailing market conditions before making any trading decision.
No Guaranteed Results: The script is aimed at bringing signal accuracy into improvement to align with the broader market trend and reducing noise, but past performance cannot guarantee future success. Traders should use this script within their broad trading approach. Clean and Simple Chart Display: The primary goal of this script is to have a clear and simple display on the chart. The signals are prominently marked with "BUY" and "SELL," and the color of the bars has changed according to the last signal, thus traders can easily read the output. Community and Open Source Open Source Contribution: This script is open for contribution by the TradingView community. Any suggestions regarding improvements are highly welcomed. Candlestick patterns, moving averages, and the combination of the cooldown filter are presented in such a way as to give traders something special, and any modifications or extra touch by the community is appreciated. Attribution and Transparency: The script is based on standard technical analysis principles and for all parts inspired by or derivated from other available open-source scripts, credit is given where it is due. In this way, transparency ensures that the script adheres to TradingView's standards and promotes a collaborative community environment.
Correlation Analysis Tool📈 What Does It Do?
Correlation Calculation: Measures the correlation between a selected asset (Asset 1) and up to four additional assets (Asset 2, Asset 3, Asset 4, Asset 5).
User Inputs: Allows you to define the primary asset and up to four comparison assets, as well as the period for correlation calculations.
Correlation Matrix: Displays a matrix of correlation coefficients as a text label on the chart.
🔍 How It Works
Inputs: Enter the symbols for Asset 1 (main asset) and up to four other assets for comparison.
Correlation Period: Specify the period over which the correlations are calculated.
Calculations: Computes log returns for each asset and calculates the correlation coefficients.
Display: Shows a textual correlation matrix at the top of the chart with percentage values.
⚙️ Features
Customizable Assets: Input symbols for one primary asset and up to four other assets.
Flexible Period: Choose the period for correlation calculation.
Correlation Coefficients: Outputs correlation values for all asset pairs.
Textual Correlation Matrix: Provides a correlation matrix with percentage values for quick reference.
🧩 How to Use
Add the Script: Apply the script to any asset’s chart.
Set Asset Symbols: Enter the symbols for Asset 1 and up to four other assets.
Adjust Correlation Period: Define the period for which correlations are calculated.
Review Results: Check the correlation matrix displayed on the chart for insights.
🚨 Limitations
Historical Data Dependency: Correlations are based on historical data and might not reflect future market conditions.
No Visual Plots Yet: This script does not include visual plots; it only provides a textual correlation matrix.
💡 Best Ways To Use
Sector Comparison: Compare assets within the same sector or industry for trend analysis.
Diversification Analysis: Use the correlations to understand how different assets might diversify or overlap in your portfolio.
Strategic Decision Making: Utilize correlation data for making informed investment decisions and portfolio adjustments.
📜 Disclaimer
This script is for educational and informational purposes only. Please conduct your own research and consult with a financial advisor before making investment decisions. The author is not responsible for any losses or damages resulting from the use of this script.
M Farm Scalper v4"M Farm Scalper v2" Trading Indicator on TradingView
Overview
This script uses a combination of indicators to help attempt the best view of when to exit and enter markets. The author has seen that usage of multiple indicators combined provided value and create profit.
1. Improved Signal Reliability
Combining swing highs and lows with Swing Failure Patterns (SFP) increases the reliability of the signals. Each indicator contributes different insights into market behavior:
Swing Highs and Lows: These help identify key support and resistance levels.
Swing Failure Patterns: These provide early warning signs of potential trend reversals when price fails to maintain new highs or lows.
2. Comprehensive Market Analysis
Using multiple indicators allows for a more comprehensive analysis of market conditions:
Trend Analysis: Swing highs and lows can indicate the overall trend direction.
Reversal Signals: SFPs highlight potential reversal points where the current trend might be weakening.
3. Enhanced Signal Strength
The script not only detects basic SFPs but also evaluates their strength by considering the number of failures within a specified range:
Strength of SFPs: By quantifying the strength of SFPs, the script can distinguish between weak and strong reversal signals. This helps traders prioritize stronger signals, reducing false positives.
4. Visual and Alert-based Trading
The combined use of these indicators improves both visual analysis and automated alert systems:
Visual Representation: Plotting different characters for swing points and SFPs makes it easier for traders to quickly interpret the chart.
Alerts: Automated alerts for specific conditions (like swing high/low failures) enable traders to respond promptly to significant market movements without constantly monitoring the charts.
5. Flexibility and Customization
The script includes parameters that allow traders to customize the behavior of the indicators based on their trading preferences:
Customization of Lookback Period (swingHistory): Traders can adjust this to fine-tune the sensitivity of swing point detection.
Selective Plotting (plotSwings, plotFirstSFPOnly, plotStrongerSFPs): These options provide flexibility in how much information is displayed on the chart, preventing clutter and focusing on relevant signals.
6. Minimized Noise and False Signals
By using a combination of indicators, the strategy aims to filter out market noise and reduce the likelihood of false signals:
Confluence of Signals: When multiple indicators align to provide a signal, it generally indicates a higher probability setup, thus reducing the chances of acting on false or less significant market moves.
7. Contextual Market Understanding
Combining indicators offers a more contextual understanding of market dynamics:
Market Context: Identifying both support/resistance levels (via swing points) and potential trend reversals (via SFPs) provides a fuller picture of market conditions, allowing traders to make more informed decisions.
Conclusion
Combining multiple indicators in the "M Farm Scalper v2" script is a strategic choice designed to enhance the robustness, reliability, and actionable quality of the trading signals. This approach leverages the strengths of each indicator to provide a well-rounded, comprehensive trading tool that aids traders in identifying high-probability trade setups and minimizing the risk of false signals.
ChatGPT can make mistakes. Check important info.
Introducing "M Farm Scalper v2" – an advanced proprietary trading indicator designed exclusively for the TradingView platform. This tool excels in identifying key swing points and Swing Failure Patterns (SFPs), offering traders unique visual and auditory cues to enhance decision-making. It's particularly tailored for the 5-minute timeframe but adaptable to suit a variety of trading styles.
Unique Features
Advanced Swing Point Detection: Leverages a sophisticated algorithm to detect swing highs and lows, integrating predictive analytics to forecast potential market reversals.
Dynamic Swing Failure Pattern Analysis: Employs a real-time analysis combining price action and volume data to pinpoint bullish and bearish reversal opportunities with high precision.
Innovative Visual and Auditory Cues: Features unique, easy-to-understand icons such as animals and fruits to represent market signals, simplifying complex market data into actionable insights.
Functionality
"M Farm Scalper v2" is crafted to deliver:
Configurable Parameters: Users can adjust settings including Swing History, visibility of swing points, and sensitivity for detecting stronger SFPs, making it highly customizable to fit individual trading strategies.
Clear, Actionable Outputs: Designed to offer straightforward visual signals directly on the trading chart, facilitating quick and effective decision-making.
Compliance and Originality
Original Integration of Features: This script combines several analytical techniques into a cohesive unit that surpasses the capabilities of existing open-source scripts in both originality and functionality.
Justification for Closed-Source: The proprietary nature of the algorithms and the unique method of data presentation are maintained as closed-source to protect the integrity and effectiveness of the tool, providing users with a reliable competitive advantage.
Application Instructions
To apply "M Farm Scalper v2," add it from the TradingView "Indicators" menu by searching for our script. Adjust the customizable settings as per your trading requirements and observe how the indicator’s outputs make market dynamics easy to interpret and act upon.
Chart Presentation
The accompanying chart is presented cleanly, focusing solely on the outputs of "M Farm Scalper v2." Each visual cue is annotated to demonstrate its relevance, ensuring that traders can easily understand and utilize the information provided without distraction.
Conclusion
"M Farm Scalper v2" is not just an indicator but an essential trading tool for those seeking precision and efficiency in their trading operations. Its advanced features and user-friendly design make it a valuable addition to any trader’s arsenal, especially for those involved in scalping and short-term trading.
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BitBell - EMA PullBack RSI EXO
🔵 Introduction
Version 1.1
This is a Pine 5 trend following strategy. It has a four strategy with several alerts and signals. The design intent is to produce a commercial grade signal generator that can be adapted to any symbol in cryptocurrency and only 1H Chart. Ideally, the script is reliable enough to be the basis of an automated trading system web-hooked to a server with API access to crypto brokerages. The strategy can be run in three different modes: long, short and bidirectional.
As a trend following strategy, the behavior of the script is to buy on strength and sell on weakness. As such the trade orders maintain its directional bias according to price pressure. What you will see on the chart is long positions on the left side of the mountain and short on the right. Long and short positions are not intermingled as long as there exists a detectable trend. This is extremely beneficial feature in long running bull or bear markets. The script uses multiple setups to avoid the situation where you got in on the trend, took a small profit but couldn’t get back in because the logic is waiting for a pullback or some other intricate condition.
Deep draw-downs are a characteristic of trend following systems and this system is no different. However, this script makes use of the TradingView pyramid feature with three NPUs to find better place and even you can change drop percentage in settings for another trigger, accessible from the properties tab.
When trend market break it will stop the trade and usually it takes 2-4 percent loss but don't worry it has prefect money management and you can use it for Futures market and even Spot market.
🔵 Design
This script uses twelve indicators on two time frames. The chart (primary) interval and one higher time frame which is based on the primary. The higher time frame identifies the trend for which the primary will trade. I’ve tried to keep the higher time frame around five times greater than the primary. The original trading algorithms are a port from a much larger program on another trading platform. I’ve converted some of the statistical functions to use standard indicators available on TradingView. The setups make heavy use of the Hull Moving Average in conjunction with EMAs that form the Bill Williams Alligator as described in his book “New Trading Dimensions” Chapter 3. Lag between the Hull and the EMAs form the basis of the entry and exit points. The alligator itself is used to identify the trend main body.
The entire script is around 740 lines of Pine code which is the maximum incidental size given the TradingView limits: local scopes, run-time duration and compile time. I’ve been working on this script for over a year and have tested it on various instruments stock crypto. It performs well on higher liquidity markets that have at least a year of historical data. Though it can be configured to work on any interval between 15 minutes and 4 hour, trend trading is generally a longer term paradigm. For day trading the 10 to 15 minute interval will allow you to catch momentum breakouts. For intraweek trades 30 minutes to 1 hour should give you a trade every other a day.
Inputs to the script use cone centric measurements in effort to avoid exposing adjustments to the various internal indicators. The goal was to keep the inputs relevant to the actual trade entry and exit locations as opposed to a series of MA input values and the like. As a result the strategy exposes over 12 inputs grouped into long or short sections. Inputs are available for the usual minimum profit and stop-loss as well as trade, modes, presets, reports and lots of calibrations. The inputs are numerous, I’m aware. Unfortunately, at this time, TradingView does not offer any other method to get data in the script. The usual initialization files such as cnf, cfg, ini, json and xml files are currently unsupported.
Example configurations for various instruments along with a detailed PDF user manual is available.
it has no repaint i guaranty this, and you can have 10 days free with comment and check it by yourself
One issue that comes up when comparing the strategy with the study is that the strategy trades show on the chart one bar later than the study. This problem is due to the fact that “strategy.entry()” and “strategy_close()” do not execute on the same bar called. The study, on the other hand, has no such limitation since there are no position routines. However, alerts that are subsequently fired off when triggered in the study are dispatched from the TradingView servers one bar later from the study plot. Therefore the alert you actually receive on your cell phone matches the strategy plot but is one bar later than the study plot.
Please be aware that the data source matters. Cryptocurrency has no central tick repository so each exchange supplies TradingView its feed. Even though it is the same symbol the quality of the data and subsequently the bars that are supplied to the chart varies with the exchange. This script will absolutely produce different results on different data feeds of the same symbol. Be sure to backtest this script on the same data you intend to receive alerts for. Any example settings I share with you will always have the exchange name used to generate the test results.
🟡 Usage
It sends long and short signals with pyramid orders of up to 3, meaning that the strategy can trigger up to 3 orders in the same direction. Good risk and money management.
It's important to note that the strategy combines 2 systems working together (Long and LongX). Let’s describe the specific features of this strategy.
🔵 If Findes Supports And Ressitances And Trend Lines As Best As It Can, And You Can See:
🟢 Frist Simple Long Condition = It Look At The Trend Wait For RSI Cross 30 Number Then Ckeck Risk To Reward, check something else such as divergence:
🟢 Another Long Example:
🔴 Frist Simple Short Condition = It Look At The Trend Wait For RSI Cross 70 Number Then Ckeck Risk To Reward, check something else such as divergence:
🔴 Another Short Example:
The following steps provide a very brief set of instructions that will get you started but will most certainly not produce the best backtest. A trading system that you are willing to risk your hard earned capital will require a well crafted configuration that involves time, expertise and clearly defined goals. As previously mentioned, I have several example configs that I use for my own trading that I can share with you along with a PDF which describes each input in detail. To get hands on experience in setting up your own symbol from scratch please follow the steps below.
The input dialog box contains over 12 inputs, There are four options must to be configured: Choose Target, side, Choose Settings, Money Management,and settings that apply to both. The following steps address these four main options only.
Money Management System For Leverage 10:
Bot Finds Last Lower Low And Calculate Distance From Entry Price, Then Cross It To Initial Capitan And Cross Leverage =>
Position_Size = (((1.64) * (initial Capital)) * (leverage))
And Check Dominances Too For Getting Best Money Management Result
🔵 Settings
* Side, You Can Set Long Or Short Or Both.
* Choose Target, You Can Set One Target Or All Targets.
* Money Management, You Can ON Or OFF It, With OFF You Can USE It For SPOT Trades.
* Choose Settings, In This Field You Can Set Mathematical Optimization, Ddepends On Which Pair You USE.
* Clear With Daily PullBack?, With This Check Box You Can Clear Signals With Daily PullBack.
* Long X, You Can Set Long Leverage.
* Short X, You Can Set Short Leverage.
* Second Order X, You Can Set Pyramiding Leverage.
* Target Long, You Can Set Percent For Long Target.
* Target Short, You Can Set Percent For Short Target.
* Short Martin Percent, You Can Set Short Martingale Percent.
* Long Martin Percent, You Can Set Long Martingale Percent.
🟡 Pyraming 3
🟡 Commission Is 0.065 %
🟡 Slippage Is 10 ticks
🔴Only Use For 1 Hour Chart
🔴 CONCLUSION
We believe that success lies in the association of the user with the indicator, opposed to many traders who have the perspective that the indicator itself can make them become profitable. The reality is much more complicated than that.
The aim is to provide an indicator comprehensive, customizable, and intuitive enough that any trader can be led to understand this truth and develop an actionable perspective of technical indicators as support tools for decision making.
🔴 RISK DISCLAIMER
Trading is risky & most day traders lose money. All content, tools, scripts, articles, & education provided by BitBell are purely for informational & educational purposes only. Past performance does not guarantee future results.
Machine Learning : Cosine Similarity & Euclidean DistanceIntroduction:
This script implements a comprehensive trading strategy that adheres to the established rules and guidelines of housing trading. It leverages advanced machine learning techniques and incorporates customised moving averages, including the Conceptive Price Moving Average (CPMA), to provide accurate signals for informed trading decisions in the housing market. Additionally, signal processing techniques such as Lorentzian, Euclidean distance, Cosine similarity, Know sure thing, Rational Quadratic, and sigmoid transformation are utilised to enhance the signal quality and improve trading accuracy.
Features:
Market Analysis: The script utilizes advanced machine learning methods such as Lorentzian, Euclidean distance, and Cosine similarity to analyse market conditions. These techniques measure the similarity and distance between data points, enabling more precise signal identification and enhancing trading decisions.
Cosine similarity:
Cosine similarity is a measure used to determine the similarity between two vectors, typically in a high-dimensional space. It calculates the cosine of the angle between the vectors, indicating the degree of similarity or dissimilarity.
In the context of trading or signal processing, cosine similarity can be employed to compare the similarity between different data points or signals. The vectors in this case represent the numerical representations of the data points or signals.
Cosine similarity ranges from -1 to 1, with 1 indicating perfect similarity, 0 indicating no similarity, and -1 indicating perfect dissimilarity. A higher cosine similarity value suggests a closer match between the vectors, implying that the signals or data points share similar characteristics.
Lorentzian Classification:
Lorentzian classification is a machine learning algorithm used for classification tasks. It is based on the Lorentzian distance metric, which measures the similarity or dissimilarity between two data points. The Lorentzian distance takes into account the shape of the data distribution and can handle outliers better than other distance metrics.
Euclidean Distance:
Euclidean distance is a distance metric widely used in mathematics and machine learning. It calculates the straight-line distance between two points in Euclidean space. In two-dimensional space, the Euclidean distance between two points (x1, y1) and (x2, y2) is calculated using the formula sqrt((x2 - x1)^2 + (y2 - y1)^2).
Dynamic Time Windows: The script incorporates a dynamic time window function that allows users to define specific time ranges for trading. It checks if the current time falls within the specified window to execute the relevant trading signals.
Custom Moving Averages: The script includes the CPMA, a powerful moving average calculation. Unlike traditional moving averages, the CPMA provides improved support and resistance levels by considering multiple price types and employing a combination of Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs). Its adaptive nature ensures responsiveness to changes in price trends.
Signal Processing Techniques: The script applies signal processing techniques such as Know sure thing, Rational Quadratic, and sigmoid transformation to enhance the quality of the generated signals. These techniques improve the accuracy and reliability of the trading signals, aiding in making well-informed trading decisions.
Trade Statistics and Metrics: The script provides comprehensive trade statistics and metrics, including total wins, losses, win rate, win-loss ratio, and early signal flips. These metrics offer valuable insights into the performance and effectiveness of the trading strategy.
Usage:
Configuring Time Windows: Users can customize the time windows by specifying the start and finish time ranges according to their trading preferences and local market conditions.
Signal Interpretation: The script generates long and short signals based on the analysis, custom moving averages, and signal processing techniques. Users should pay attention to these signals and take appropriate action, such as entering or exiting trades, depending on their trading strategies.
Trade Statistics: The script continuously tracks and updates trade statistics, providing users with a clear overview of their trading performance. These statistics help users assess the effectiveness of the strategy and make informed decisions.
Conclusion:
With its adherence to housing trading rules, advanced machine learning methods, customized moving averages like the CPMA, and signal processing techniques such as Lorentzian, Euclidean distance, Cosine similarity, Know sure thing, Rational Quadratic, and sigmoid transformation, this script offers users a powerful tool for housing market analysis and trading. By leveraging the provided signals, time windows, and trade statistics, users can enhance their trading strategies and improve their overall trading performance.
Disclaimer:
Please note that while this script incorporates established tradingview housing rules, advanced machine learning techniques, customized moving averages, and signal processing techniques, it should be used for informational purposes only. Users are advised to conduct their own analysis and exercise caution when making trading decisions. The script's performance may vary based on market conditions, user settings, and the accuracy of the machine learning methods and signal processing techniques. The trading platform and developers are not responsible for any financial losses incurred while using this script.
By publishing this script on the platform, traders can benefit from its professional presentation, clear instructions, and the utilisation of advanced machine learning techniques, customised moving averages, and signal processing techniques for enhanced trading signals and accuracy.
I extend my gratitude to TradingView, LUX ALGO, and JDEHORTY for their invaluable contributions to the trading community. Their innovative scripts, meticulous coding patterns, and insightful ideas have profoundly enriched traders' strategies, including my own.
Trend Reversal System with SR levelsHello All,
This is the Trend Reversal System with Support/Resistance levels script. long time ago I published it as closed source but now I upgraded it and and published as open-source with a different name. I hope it would be useful for you all while trading/analyzing.
The script has some parts in it: Setup, Count, SR levels, Risk levels & Targets . Now lets check them:
Setup Part: it has two part, Buy or Sell Setup. one of them can be active only. Buy setup: if current close checks if current is lower/equal than the close of the 5. bar. if yes then the script increases number of buy setup. and if it reaches 9 then the script checks if current low is lower/equal than the lows of last 3. and 4. bars, or if the low of the last bar is lower/equal than the lows of last 3. and 4. bars. if yes then the script increases the buy setup by 1. if these conditions met then it puts the label 'S' , same for Sell setup. S labels on both setup are potential reversals.
Count Part: If buy or sell setup reaches the 9 then Count part starts from 1. lets see buy count: If current close is lower/equal than the low of the 3. bar and buy count is lower than 12 or low of the bar 13 is less than or equal to the close of bar 8 then buy count increase or it's completed. if it's completed then the script puts C label, and it's potential reversal. of course there are some conditions that can cancel the count buy/sell or recycle/restart.
By using Setup and Count levels the script can show Support/Resistance Levels, Risk levels & Targets. SR levels are potential reversal levels.
Lets see some example screenshots:
Support/Resistance levels:
Potential Reversal levels and how setup/counts are shown:
Count part can recycle and the script shows it as 'R' , ( you can see the conditions for Recycle in the script ):
Count can be cancelled and and it's shown as 'x'
If the scripts find 9 on Setup or 13 on Count then it checks if it's a good level to buy/sell and if it decides it's good level then it shows TRSSetup Buy/Sell or TRSCount Buy/Sell and also shows the target. in following example the script checks and decide it's a good level to take long position. it can be aggressive or conservative, Conservative is recommended.
Enjoy!
Volume FootprintThe Volume Footprint chart is analyzing volume data from inside the candle and split them into Up and Down Volume in the same way as Volume Profile analyzes the volume data from a fragment of the chart.
The visualization is little different:
Down Volume (sells) are shown on the left side of a candle.
Up Volume (Buys) are shown on the right side of a candle.
User can pick data precision used by Volume Footprint. We recomend to use the highest possible precision.
Unfortunatelly Trading View has many limitations.
If after adding script nothing is visible with error: "'The study references too many candles in history'" you need to use lower precision - It can be changed in script settings.
This script is a part of a toolkit called "Volume Footprint", containing few tools:
Volume Footprint - Scripts drawing Volume Footprint chart.
Volume Footprint Statistics - Script showing table with basic statistics about Up and Down volume inside the candles.
Volume Delta In Candle - Chart showing history of delta (difference between Up and Down volume) changes inside the current candle.
Volume Cumulative Delta - Chart showing history of cumulative delta (sum of difference between Up and Down volume in trading period equal to chart interval).
This script can be used by any user. You do not need to have PRO or PREMIUM account to use it.
Script with limited access, contact author to get authorization
User Interface:
Script is grouping Up and Down Volume into slots based on price. Slots height is controled by "Slot height" param in settings.
On left side of a candle Down Volume is shown and on right side Up Volume is shown.
Before Down Volume may appear imbalance symbols:
⠀↓ - 3 times
⠀↡ - 5 times
⠀⇊ - 10 times
After Up Volume may appear imbalance symbols:
⠀↑ - 3 time
⠀↟ - 5 times
⠀⇈ - 10 times
Above the candle we can show some basic statistics of that candle:
"V:" - Row with volume statistics:
⠀∑ - Total volume,
⠀Δ - Difference between Up and Down Volume.
⠀min Δ - Smallest difference between Up and Down Volume in that candle
⠀max Δ - Biggest difference between Up and Down Volume in that candle
Script settings:
Slot height = 10^ - Price slot height on the chart:
⠀ 0 - 1$
⠀ 1 - 10$
⠀ 2 - 100$
⠀ 3 - 1000$
⠀-1 - 0.1$
⠀-2 - 0.01$
⠀-3 - 0.001$
Data precision - One of 6 levels of data precision: ▉▇▆▅▃▁, where ▉ means the highest precision and ▁ the lowest available precision. On 15 minute chart highest precision should be available, but on 1D it will probably hit TradingView limitations and script will not be even launched by the platform with error: "'The study references too many candles in history'". The general recommendation is to use the highest available precision for a given instrument and interval.
Precise warnings - Option to show precise warnings about missing volume in candle footprint (warning connected with one of TradingView limitations).
Draw candles - Option of drawing candles fiting to volume labels and 2 fields for picking colors of up and down candles. The general recommendation is to hide chart candles and turn on this option.
Show stats - Showing stats over the candle: ∑, Δ, min Δ, max Δ. You can use 'Volume Footprint Statistics' script instead
Font size - Used to draw all the data over the chart: T(iny), S(mall), N(ormal), L(arge)
Centered - If checked volume labels are stick to candle (centered).
Color values - Option to draw labels with use of Up or Down color, depending which value (Volume Up or Volume Down) is bigger in the price slot.
Filter - Filtering option than allow hinding labels with small values:
⠀0 - filter turned off.
⠀1-5 - filtering with transparency
⠀6-10 - Filtering with hiding values.
Show zeros - It can show zeros or leave empty places
Highlight biggest slot - Option to highlight price slot with biggest volume in the candle.
Imbalances - Showing imbalance symbols before Down or after Up Volume
Only over average - Showing imbalances symbols only for volume not smaller than the average value.
Value area - Option to identify group of slots with biggest volume in each candle. A group is a smallest set of neighboring slots that have at least n(param) % of candle volume .
⠀ Value Area Minimal Volume (%) - Value area size as % of candle volume .
⠀ Color - Color of the Value area.
⠀ Show borders - Showing border lines of value areas over the candle.
⠀ Track - Option to track value areas. Potencial Support-Resistance zones.
⠀ Only active - Hide areas that were crossed by the price.
Show Values - Show volume value over tracked value areas.
Troubleshooting:
In case of any problems, send error details to the author of the script.
Known issues:
"The study references too many candles in history" - Change "Data precision" settings to some lower value.
