Bjorgum SuperScript
Bjorgum Reversal
Bj Reversal uses Tilson moving averages to identify trend changes
Bars change to yellow as bar close crosses the Tilson moving averages. Blue or red is confirmed as the two Tilson averages themselves cross.
Reversal is great for pinpointing trend change often giving the absolute best entry or exit
Its sensitive nature can mean more false signals on some assets
Be sure to use other indicators from the Bjorgum Collection to confirm signals, or use another strategy that fits the asset or time frame being viewed
Bjorgum HEMA Strategy
Hema uses HA smoothed EMAs to identify trend direction
Default EMA lengths are 5,9, and 21 period
Bar Color will change Malibu or Ruby on a cross of BOTH 5 and 9 EMA
The lengths are customizable to whatever lengths the user desires
Rolando Santos True Relative Movement (TRM)
This underrated momentum strategy conceptualized by Rolando Santos uses 2 indicators to give a 3 color scheme
A leading indicator (RSI) is combined with a lagging indicator (TSI) to produce bar colors based on the condition of each indicator
Both indicators in positive territory produce blue bars
Both indicators in negative bias produce yellow bars
If signals are mixed (one up one down) bars become grey
Speed Selection
The Bjorgum speed selector optimizes the strategy based on the users desires or trading style at the touch of a button
Fast setting is better for swing trades - more timely signals, more whipsaw
Slow setting is better for longer holds or more volatile assets - slower signals, smooths out whipsaw
RSI Bar Color
RSI color changes bar color based on user defined RSI values
Buy/ sell signals are typically given on a cross of the 50 level
Speed selector (fast/Slow) automatically changes lengths between Bj RSI (5 period) and a standard RSI (14 period)
Additional capabilities can be mixed and matched from strategies in the "Strategy Override" section
Add-ons include:
Tilson - The moving average system from Bjorgum Reversal can be toggled to couple with another bar color strategy by clicking this button
PSAR - Parabolic Stop and Reverse indicator can help with trend direction, volatility, and stop losses
HEMA - The 3 moving average system from the HEMA strategy can be coupled with any of the other strategies by clicking "Show HEMA"
Bj Arrows - These arrows plot at the bar level to draw attention to when the BJ TSI is "curling" (See profile for Bjorgum TSI and download today)
-Optional "Plotbar Overlay" plots bars with Heikin-Ashi Inputs when toggled
-This allows for the benefits of price smoothing without sacrificing moving average and indicator performance as real close value is still used
-This can also help on short time frames and improve results with crypto! The user must "mute" the main series candles when in use to avoid candle overlap.
-Optional price line as muting main bars will disable the TradingView default price line. The horizontal plot will track the real closing price while in HA mode!
Cerca negli script per "tsi"
Trend Strength Index - ZTFThis is a modification of TradingView's default Trend Strength Index indicator.
The Trend Strength Index measures the tendency of a symbol to either trend steadily or to revert to its mean. The core idea behind TSI is that the more momentum a symbol has relative to its volatility, the more likely it is to follow a trend and less likely to revert to its mean.
This indicator analyzes price momentum using the Pearson correlation coefficient, a normalized measure of the linear relationship between time series. Its output shows the correlation between the chart's closing prices and bar index values over a defined number of bars.
A value near +1 shows that prices experienced relatively steady increases across successive bars, indicating high upward trend strength
A value near -1 shows that prices experienced relatively steady decreases across successive bars, indicating high downward trend strength
A value near 0 suggests a lack of trend strength, because prices did not demonstrate a steady positive or negative relationship with the bar index
ZTF Modification: Added a green background highlight that appears when TSI reaches 0.90 or above, providing a visual alert for extremely strong bullish trend conditions.
Credit: Based on TradingView's default Trend Strength Index indicator.
SMI Ergodic Indicator/Oscillator of Money Flow Index▮ Introduction
The Stochastic Momentum Index Ergodic (SMII) indicator is a technical analysis tool designed to predict trend reversals in the price of an asset.
It functions as a momentum oscillator, measuring the ratio of the smoothed price change to the smoothed absolute price change over a given number of previous periods.
The Ergodic SMI is based on the True Strength Index (TSI) and integrates a signal line, which is an exponential moving average (EMA) of the SMI indicator itself.
The Ergodic SMI oscillator provides a clearer picture of market trends than the traditional stochastic oscillator by incorporating the concept of 'ergodicity', which helps remove market noise.
On ther other hand, MFI (Money Flow Index) is a technical analysis indicator used to measure the inflow of money into an asset and thus help identify buying and selling pressure in a given financial instrument.
When these two indicators are combined, they can provide a more comprehensive view of price direction and market strength.
▮ Motivation: why another indicator?
By combining SMII with MFI, we can gain even more insights into the market.
One way to do this is to use the MFI as an input to the SMII, rather than just using price.
This means we are measuring momentum based on buying and selling pressure rather than just price.
Furthermore, there is the possibility of making several fine adjustments to both the calculation and visualization parameters that are not present in other indicators.
▮ What to look for
When using the SMII MFI indicator, there are a few things to look out for.
First, look at the SMII signal line.
When the line crosses above -40, it is considered a buy signal, while the crossing below +40 is considered a sell signal.
Also, pay attention to divergences between the SMII and the price.
If price is rising but the SMII is showing negative divergence, it could indicate that momentum is waning and a reversal could be in the offing.
Likewise, if price is falling but the SMII is showing positive divergence, this could indicate that momentum is building and a reversal could also be in the offing.
Divergences can be considered in both indicator and/or histogram.
Examples:
▮ Notes
The indicator presented here offers both the 'SMII' and the 'SMIO', that is, the 'Stochastic Momentum Index Ergodic Indicator' together with the 'Stochastic Momentum Index Ergodic Oscillator' (histogram), as per the documentation described in reference links.
So it is important to highlight the differences in relation to my other indicator, the 'Stochastic Momentum Index (SMI) of Money Flow Index (MFI)':
This last one is purely based on the SMI , which is implemented using SMA smoothing for the relative range and the high/low range.
Although they may seem the same in some situations, the calculation is actually different. The TSI tends to be more responsive at the expense of being noisier, while the SMI tends to be smoother. Which of these two indicators is best depends on the situation, the context, and the analyst's personal preference.
Please refer to reference links to more info.
▮ References
SMI documentation
SMII documentation
SMIO documentation
MFI documentation
Perfect RSIOverview:
The "Enhanced RSI" is a comprehensive TradingView indicator designed to provide traders with a nuanced and detailed analysis of market conditions using the Relative Strength Index (RSI). It amalgamates various RSI calculation methods to offer a more robust and adaptable approach to technical analysis.
Originality:
This script is unique in its synthesis of multiple RSI calculation techniques, including Regular RSI, Dynamic RSI, DMI RSI, Wilder's RSI, TSI RSI, Momentum RSI, and PPO RSI. By combining these methods, the script creates a distinctive and versatile tool for traders seeking a holistic view of RSI dynamics.
How It Works:
Diverse RSI Calculations:
Regular RSI: Calculates standard RSI with user-defined length and source.
Dynamic RSI: Adjusts RSI dynamically based on price movement direction.
DMI RSI: Uses Directional Movement Index for RSI calculation.
Wilder's RSI: Implements Wilder's smoothing technique for RSI.
TSI RSI: Utilizes True Strength Index for RSI calculation.
Momentum RSI: Calculates RSI based on momentum.
PPO RSI: Applies Percentage Price Oscillator for RSI calculation.
Composite RSI:
Combines the individual RSIs into three composite indices (RSI1, RSI2, RSI) using a weighted average approach.
Dynamic Level Adjustment:
Uses the correlation coefficient to dynamically adjust overbought and oversold levels, enhancing adaptability to market changes.
Visualization and Background Coloring:
Visualizes overbought and oversold zones on the chart.
Adjusts background color based on these conditions for clearer interpretation.
How to Use:
Installation:
Copy and paste the script into the Pine Editor on TradingView.
Adjust parameters as needed.
Analysis:
Utilize the "Enhanced RSI" as a comprehensive analysis tool for RSI dynamics.
Consider it as a confirmation tool alongside other technical indicators.
Customization:
Experiment with different RSI lengths and methods to align with your trading strategy.
Backtest the script to validate its effectiveness.
Considerations:
Complexity:
The script is sophisticated; users are advised to understand each calculation method before reliance.
Parameter Sensitivity:
Effectiveness may vary based on chosen parameters; thorough backtesting and parameter optimization are recommended.
GP - Long Short ScannerThis script is made to predict the point at which price-time charts will rise or fall. The script was inspired by the RSI and TSI formulas. The formula is simply; Calculates the RSI and TSI values of open, high, low and close. Calculated values are converted to an array. The maximum and minimum values in the array are taken for the candles included in the calculation. These values calculate the time when the "Long" label will be seen on the chart of the candle that will increase the price. At the same time, it calculates the time when the "Short" label will appear on the chart of the candle that will decrease the price. Although these calculations are not precise; Seeing the “Long” label means that the price will rise at that candle, and seeing the “Short” label means that the price will decrease at that candle. The “Long”, “Short” tags from this script alone should not be used to determine the direction of the price. It can be used on all price-time charts.
wolfpack by multigrainContext
WolfPack was originally published by @darrellfischer1. The indicator was then made popular as a useful companion to the famous Market Cipher (and other similar) oscillators.
Improvements
Inspired by the Bjorgum TSI I have gone ahead and applied a Exponential Moving Average to the original WolfPack plot. The color changes assist in anticipating trend reversals and curls.
Credits
@bjorgum for the coloring and interpretation ideas
@darrellfischer1 for WolfPack
Indicator Functions with Factor and HeikinAshiHello all,
This indicator returns below selected indicators values with entered parameters.
Also you can add factorization, functions candles, function HeikinAshi and more to the plot.
VERSION:
Version 1: returns series only source and Length with already defined default values
Version 2: returns series with source, Length, p1 and p2 parameters according to the indicator definition (ex: )
PARAMETERS p1 p2
for defining multi arguments (See indicators list) indicator input value usable with verison=V2 selected.. ex: for alma( src , len ,offset=0.85,sigma=6), set source=source, len=length, p1=0.85 an p2=6
FACTOR:
Add double triple, Quadruple factors to selected indicator (like converting EMA to 2-DEMA, 3-TEMA, 4-QEMA...)
1-Original
2-Double
3-Triple
4-Quadruple
LOG
Log: Use log, log10 on function entries
PLOTTING:
PType: Plotting type of the function on the screen
Original :use original values
Org. Range (-1,1): usable for indicators between range -1 and 1
Stochastic: Convert indicator values by using stochastic calculation between -1 & 1. (use AT/% length to better view)
PercentRank: Convert indicator values by using Percent Rank calculation between -1 & 1. (use AT/% length to better view)
ST/%: length for plotting Type for stochastic and Percent Rank options
Smooth: Use SWMA for smoothing the function
DISPLAY TYPES
Plot Candles: Display the selected indicator as candle by implementing values
Plot Ind: Display result of indicator with selected source
HeikinAshi: Display Selected indicator candles with Heikin Ashi calculation
INDICATOR LIST:
hide = 'DONT DISPLAY', //Dont display & calculate the indicator. (For my framework usage)
alma = 'alma( src , len ,offset=0.85,sigma=6)', // Arnaud Legoux Moving Average
ama = 'ama( src , len ,fast=14,slow=100)', //Adjusted Moving Average
acdst = 'accdist()', // Accumulation/distribution index.
cma = 'cma( src , len )', //Corrective Moving average
dema = 'dema( src , len )', // Double EMA (Same as EMA with 2 factor)
ema = 'ema( src , len )', // Exponential Moving Average
gmma = 'gmma( src , len )', //Geometric Mean Moving Average
hghst = 'highest( src , len )', //Highest value for a given number of bars back.
hl2ma = 'hl2ma( src , len )', //higest lowest moving average
hma = 'hma( src , len )', // Hull Moving Average .
lgAdt = 'lagAdapt( src , len ,perclen=5,fperc=50)', //Ehler's Adaptive Laguerre filter
lgAdV = 'lagAdaptV( src , len ,perclen=5,fperc=50)', //Ehler's Adaptive Laguerre filter variation
lguer = 'laguerre( src , len )', //Ehler's Laguerre filter
lsrcp = 'lesrcp( src , len )', //lowest exponential esrcpanding moving line
lexp = 'lexp( src , len )', //lowest exponential expanding moving line
linrg = 'linreg( src , len ,loffset=1)', // Linear regression
lowst = 'lowest( src , len )', //Lovest value for a given number of bars back.
pcnl = 'percntl( src , len )', //percentile nearest rank. Calculates percentile using method of Nearest Rank.
pcnli = 'percntli( src , len )', //percentile linear interpolation. Calculates percentile using method of linear interpolation between the two nearest ranks.
rema = 'rema( src , len )', //Range EMA (REMA)
rma = 'rma( src , len )', //Moving average used in RSI . It is the exponentially weighted moving average with alpha = 1 / length.
sma = 'sma( src , len )', // Smoothed Moving Average
smma = 'smma( src , len )', // Smoothed Moving Average
supr2 = 'super2( src , len )', //Ehler's super smoother, 2 pole
supr3 = 'super3( src , len )', //Ehler's super smoother, 3 pole
strnd = 'supertrend( src , len ,period=3)', //Supertrend indicator
swma = 'swma( src , len )', //Sine-Weighted Moving Average
tema = 'tema( src , len )', // Triple EMA (Same as EMA with 3 factor)
tma = 'tma( src , len )', //Triangular Moving Average
vida = 'vida( src , len )', // Variable Index Dynamic Average
vwma = 'vwma( src , len )', // Volume Weigted Moving Average
wma = 'wma( src , len )', //Weigted Moving Average
angle = 'angle( src , len )', //angle of the series (Use its Input as another indicator output)
atr = 'atr( src , len )', // average true range . RMA of true range.
bbr = 'bbr( src , len ,mult=1)', // bollinger %%
bbw = 'bbw( src , len ,mult=2)', // Bollinger Bands Width . The Bollinger Band Width is the difference between the upper and the lower Bollinger Bands divided by the middle band.
cci = 'cci( src , len )', // commodity channel index
cctbb = 'cctbbo( src , len )', // CCT Bollinger Band Oscilator
chng = 'change( src , len )', //Difference between current value and previous, source - source.
cmo = 'cmo( src , len )', // Chande Momentum Oscillator . Calculates the difference between the sum of recent gains and the sum of recent losses and then divides the result by the sum of all price movement over the same period.
cog = 'cog( src , len )', //The cog (center of gravity ) is an indicator based on statistics and the Fibonacci golden ratio.
cpcrv = 'copcurve( src , len )', // Coppock Curve. was originally developed by Edwin "Sedge" Coppock (Barron's Magazine, October 1962).
corrl = 'correl( src , len )', // Correlation coefficient . Describes the degree to which two series tend to deviate from their ta. sma values.
count = 'count( src , len )', //green avg - red avg
dev = 'dev( src , len )', //ta.dev() Measure of difference between the series and it's ta. sma
fall = 'falling( src , len )', //ta.falling() Test if the `source` series is now falling for `length` bars long. (Use its Input as another indicator output)
kcr = 'kcr( src , len ,mult=2)', // Keltner Channels Range
kcw = 'kcw( src , len ,mult=2)', //ta.kcw(). Keltner Channels Width. The Keltner Channels Width is the difference between the upper and the lower Keltner Channels divided by the middle channel.
macd = 'macd( src , len )', // macd
mfi = 'mfi( src , len )', // Money Flow Index
nvi = 'nvi()', // Negative Volume Index
obv = 'obv()', // On Balance Volume
pvi = 'pvi()', // Positive Volume Index
pvt = 'pvt()', // Price Volume Trend
rise = 'rising( src , len )', //ta.rising() Test if the `source` series is now rising for `length` bars long. (Use its Input as another indicator output)
roc = 'roc( src , len )', // Rate of Change
rsi = 'rsi( src , len )', // Relative strength Index
smosc = 'smi_osc( src , len ,fast=5, slow=34)', //smi Oscillator
smsig = 'smi_sig( src , len ,fast=5, slow=34)', //smi Signal
stdev = 'stdev( src , len )', //Standart deviation
trix = 'trix( src , len )' , //the rate of change of a triple exponentially smoothed moving average .
tsi = 'tsi( src , len )', //True Strength Index
vari = 'variance( src , len )', //ta.variance(). Variance is the expectation of the squared deviation of a series from its mean (ta. sma ), and it informally measures how far a set of numbers are spread out from their mean.
wilpc = 'willprc( src , len )', // Williams %R
wad = 'wad()', // Williams Accumulation/Distribution .
wvad = 'wvad()' //Williams Variable Accumulation/Distribution
I will update the indicator list when I will update the library
Thanks to tradingview, @RodrigoKazuma for their open source indicators
lib_Indicators_v2_DTULibrary "lib_Indicators_v2_DTU"
This library functions returns included Moving averages, indicators with factorization, functions candles, function heikinashi and more.
Created it to feed as backend of my indicator/strategy "Indicators & Combinations Framework Advanced v2 " that will be released ASAP.
This is replacement of my previous indicator (lib_indicators_DT)
I will add an indicator example which will use this indicator named as "lib_indicators_v2_DTU example" to help the usage of this library
Additionally library will be updated with more indicators in the future
NOTES:
Indicator functions returns only one series :-(
plotcandle function returns candle series
INDICATOR LIST:
hide = 'DONT DISPLAY', //Dont display & calculate the indicator. (For my framework usage)
alma = 'alma(src,len,offset=0.85,sigma=6)', //Arnaud Legoux Moving Average
ama = 'ama(src,len,fast=14,slow=100)', //Adjusted Moving Average
acdst = 'accdist()', //Accumulation/distribution index.
cma = 'cma(src,len)', //Corrective Moving average
dema = 'dema(src,len)', //Double EMA (Same as EMA with 2 factor)
ema = 'ema(src,len)', //Exponential Moving Average
gmma = 'gmma(src,len)', //Geometric Mean Moving Average
hghst = 'highest(src,len)', //Highest value for a given number of bars back.
hl2ma = 'hl2ma(src,len)', //higest lowest moving average
hma = 'hma(src,len)', //Hull Moving Average.
lgAdt = 'lagAdapt(src,len,perclen=5,fperc=50)', //Ehler's Adaptive Laguerre filter
lgAdV = 'lagAdaptV(src,len,perclen=5,fperc=50)', //Ehler's Adaptive Laguerre filter variation
lguer = 'laguerre(src,len)', //Ehler's Laguerre filter
lsrcp = 'lesrcp(src,len)', //lowest exponential esrcpanding moving line
lexp = 'lexp(src,len)', //lowest exponential expanding moving line
linrg = 'linreg(src,len,loffset=1)', //Linear regression
lowst = 'lowest(src,len)', //Lovest value for a given number of bars back.
pcnl = 'percntl(src,len)', //percentile nearest rank. Calculates percentile using method of Nearest Rank.
pcnli = 'percntli(src,len)', //percentile linear interpolation. Calculates percentile using method of linear interpolation between the two nearest ranks.
rema = 'rema(src,len)', //Range EMA (REMA)
rma = 'rma(src,len)', //Moving average used in RSI. It is the exponentially weighted moving average with alpha = 1 / length.
sma = 'sma(src,len)', //Smoothed Moving Average
smma = 'smma(src,len)', //Smoothed Moving Average
supr2 = 'super2(src,len)', //Ehler's super smoother, 2 pole
supr3 = 'super3(src,len)', //Ehler's super smoother, 3 pole
strnd = 'supertrend(src,len,period=3)', //Supertrend indicator
swma = 'swma(src,len)', //Sine-Weighted Moving Average
tema = 'tema(src,len)', //Triple EMA (Same as EMA with 3 factor)
tma = 'tma(src,len)', //Triangular Moving Average
vida = 'vida(src,len)', //Variable Index Dynamic Average
vwma = 'vwma(src,len)', //Volume Weigted Moving Average
wma = 'wma(src,len)', //Weigted Moving Average
angle = 'angle(src,len)', //angle of the series (Use its Input as another indicator output)
atr = 'atr(src,len)', //average true range. RMA of true range.
bbr = 'bbr(src,len,mult=1)', //bollinger %%
bbw = 'bbw(src,len,mult=2)', //Bollinger Bands Width. The Bollinger Band Width is the difference between the upper and the lower Bollinger Bands divided by the middle band.
cci = 'cci(src,len)', //commodity channel index
cctbb = 'cctbbo(src,len)', //CCT Bollinger Band Oscilator
chng = 'change(src,len)', //Difference between current value and previous, source - source .
cmo = 'cmo(src,len)', //Chande Momentum Oscillator. Calculates the difference between the sum of recent gains and the sum of recent losses and then divides the result by the sum of all price movement over the same period.
cog = 'cog(src,len)', //The cog (center of gravity) is an indicator based on statistics and the Fibonacci golden ratio.
cpcrv = 'copcurve(src,len)', //Coppock Curve. was originally developed by Edwin "Sedge" Coppock (Barron's Magazine, October 1962).
corrl = 'correl(src,len)', //Correlation coefficient. Describes the degree to which two series tend to deviate from their ta.sma values.
count = 'count(src,len)', //green avg - red avg
dev = 'dev(src,len)', //ta.dev() Measure of difference between the series and it's ta.sma
fall = 'falling(src,len)', //ta.falling() Test if the `source` series is now falling for `length` bars long. (Use its Input as another indicator output)
kcr = 'kcr(src,len,mult=2)', //Keltner Channels Range
kcw = 'kcw(src,len,mult=2)', //ta.kcw(). Keltner Channels Width. The Keltner Channels Width is the difference between the upper and the lower Keltner Channels divided by the middle channel.
macd = 'macd(src,len)', //macd
mfi = 'mfi(src,len)', //Money Flow Index
nvi = 'nvi()', //Negative Volume Index
obv = 'obv()', //On Balance Volume
pvi = 'pvi()', //Positive Volume Index
pvt = 'pvt()', //Price Volume Trend
rise = 'rising(src,len)', //ta.rising() Test if the `source` series is now rising for `length` bars long. (Use its Input as another indicator output)
roc = 'roc(src,len)', //Rate of Change
rsi = 'rsi(src,len)', //Relative strength Index
smosc = 'smi_osc(src,len,fast=5, slow=34)', //smi Oscillator
smsig = 'smi_sig(src,len,fast=5, slow=34)', //smi Signal
stdev = 'stdev(src,len)', //Standart deviation
trix = 'trix(src,len)' , //the rate of change of a triple exponentially smoothed moving average.
tsi = 'tsi(src,len)', //True Strength Index
vari = 'variance(src,len)', //ta.variance(). Variance is the expectation of the squared deviation of a series from its mean (ta.sma), and it informally measures how far a set of numbers are spread out from their mean.
wilpc = 'willprc(src,len)', //Williams %R
wad = 'wad()', //Williams Accumulation/Distribution.
wvad = 'wvad()' //Williams Variable Accumulation/Distribution.
}
f_func(string, float, simple, float, float, float, simple) f_func Return selected indicator value with different parameters. New version. Use extra parameters for available indicators
Parameters:
string : FuncType_ indicator from the indicator list
float : src_ close, open, high, low,hl2, hlc3, ohlc4 or any
simple : int length_ indicator length
float : p1 extra parameter-1. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p2 extra parameter-2. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p3 extra parameter-3. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
simple : int version_ indicator version for backward compatibility. V1:dont use extra parameters p1,p2,p3 and use default values. V2: use extra parameters for available indicators
Returns: float Return calculated indicator value
fn_heikin(float, float, float, float) fn_heikin Return given src data (open, high,low,close) as heikin ashi candle values
Parameters:
float : o_ open value
float : h_ high value
float : l_ low value
float : c_ close value
Returns: float heikin ashi open, high,low,close vlues that will be used with plotcandle
fn_plotFunction(float, string, simple, bool) fn_plotFunction Return input src data with different plotting options
Parameters:
float : src_ indicator src_data or any other series.....
string : plotingType Ploting type of the function on the screen
simple : int stochlen_ length for plotingType for stochastic and PercentRank options
bool : plotSWMA Use SWMA for smoothing Ploting
Returns: float
fn_funcPlotV2(string, float, simple, float, float, float, simple, string, simple, bool, bool) fn_funcPlotV2 Return selected indicator value with different parameters. New version. Use extra parameters fora available indicators
Parameters:
string : FuncType_ indicator from the indicator list
float : src_data_ close, open, high, low,hl2, hlc3, ohlc4 or any
simple : int length_ indicator length
float : p1 extra parameter-1. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p2 extra parameter-2. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p3 extra parameter-3. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
simple : int version_ indicator version for backward compatibility. V1:dont use extra parameters p1,p2,p3 and use default values. V2: use extra parameters for available indicators
string : plotingType Ploting type of the function on the screen
simple : int stochlen_ length for plotingType for stochastic and PercentRank options
bool : plotSWMA Use SWMA for smoothing Ploting
bool : log_ Use log on function entries
Returns: float Return calculated indicator value
fn_factor(string, float, simple, float, float, float, simple, simple, string, simple, bool, bool) fn_factor Return selected indicator's factorization with given arguments
Parameters:
string : FuncType_ indicator from the indicator list
float : src_data_ close, open, high, low,hl2, hlc3, ohlc4 or any
simple : int length_ indicator length
float : p1 parameter-1. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p2 parameter-2. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p3 parameter-3. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
simple : int version_ indicator version for backward compatibility. V1:dont use extra parameters p1,p2,p3 and use default values. V2: use extra parameters for available indicators
simple : int fact_ Add double triple, Quatr factor to selected indicator (like converting EMA to 2-DEMA, 3-TEMA, 4-QEMA...)
string : plotingType Ploting type of the function on the screen
simple : int stochlen_ length for plotingType for stochastic and PercentRank options
bool : plotSWMA Use SWMA for smoothing Ploting
bool : log_ Use log on function entries
Returns: float Return result of the function
fn_plotCandles(string, simple, float, float, float, simple, string, simple, bool, bool, bool) fn_plotCandles Return selected indicator's candle values with different parameters also heikinashi is available
Parameters:
string : FuncType_ indicator from the indicator list
simple : int length_ indicator length
float : p1 parameter-1. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p2 parameter-2. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
float : p3 parameter-3. active on Version 2 for defining multi arguments indicator input value. ex: lagAdapt(src_, length_,LAPercLen_=p1,FPerc_=p2)
simple : int version_ indicator version for backward compatibility. V1:dont use extra parameters p1,p2,p3 and use default values. V2: use extra parameters for available indicators
string : plotingType Ploting type of the function on the screen
simple : int stochlen_ length for plotingType for stochastic and PercentRank options
bool : plotSWMA Use SWMA for smoothing Ploting
bool : log_ Use log on function entries
bool : plotheikin_ Use Heikin Ashi on Plot
Returns: float
Bollinger Band Width PercentileIntroducing the Bollinger Band Width Percentile
Definitions :
Bollinger Band Width Percentile is derived from the Bollinger Band Width indicator.
It shows the percentage of bars over a specified lookback period that the Bollinger Band Width was less than the current Bollinger Band Width.
Bollinger Band Width is derived from the Bollinger Bands® indicator.
It quantitatively measures the width between the Upper and Lower Bands of the Bollinger Bands.
Bollinger Bands® is a volatility-based indicator.
It consists of three lines which are plotted in relation to a security's price.
The Middle Line is typically a Simple Moving Average.
The Upper and Lower Bands are typically 2 standard deviations above, and below the SMA (Middle Line).
Volatility is a statistical measure of the dispersion of returns for a given security or market index, measured by the standard deviation of logarithmic returns.
The Broad Concept :
Quoting Tradingview specifically for commonly noted limitations of the BBW indicator which I have based this indicator on....
“ Bollinger Bands Width (BBW) outputs a Percentage Difference between the Upper Band and the Lower Band.
This value is used to define the narrowness of the bands.
What needs to be understood however is that a trader cannot simply look at the BBW value and determine if the Band is truly narrow or not.
The significance of an instruments relative narrowness changes depending on the instrument or security in question.
What is considered narrow for one security may not be for another.
What is considered narrow for one security may even change within the scope of the same security depending on the timeframe.
In order to accurately gauge the significance of a narrowing of the bands, a technical analyst will need to research past BBW fluctuations and price performance to increase trading accuracy. ”
Here I present the Bollinger Band Width Percentile as a refinement of the BBW to somewhat overcome the limitations cited above.
Much of the work researching past BBW fluctuations, and making relative comparisons is done naturally by calculating the Bollinger Band Width Percentile.
This calculation also means that it can be read in a similar fashion across assets, greatly simplifying the interpretation of it.
Plotted Components of the Bollinger Band Width Percentile indicator :
Scale High
Mid Line
Scale Low
BBWP plot
Moving Average 1
Moving Average 2
Extreme High Alert
Extreme Low Alert
Bollinger Band Width Percentile Properties:
BBWP Length
The time period to be used in calculating the Moving average which creates the Basis for the BBW component of the BBWP.
Basis Type
The type of moving average to be used as the Basis for the BBW component of the BBWP.
BBWP Lookback
The lookback period to be used in calculating the BBWP itself.
BBWP Plot settings
The BBWP plot settings give a choice between a user defined solid color, and a choice of "Blue Green Red", or "Blue Red" spectrum palettes.
Moving Averages
Has 2 Optional User definable and adjustable moving averages of the BBWP.
Visual Alerts
Optional User adjustable High and low Signal columns.
How to read the BBWP :
A BBWP read of 95 % ... means that the current BBW level is greater than 95% of the lookback period.
A BBWP read of 5 % .... means that the current BBW level is lower than 95% of the lookback period.
Proposed interpretations :
When the BBWP gets above 90 % and particularly when it hits 100% ... this can be a signal that volatility is reaching a maximum and that a macro High or Low is about to be set.
When the BBWP gets below 10 % and particularly when it hits 0% ...... this can be a signal that volatility is reaching a minimum and that there could be a violent range breakout into a trending move.
When the BBWP hits a low level < 5 % and then gets above its moving average ...... this can be an early signal that a consolidation phase is ending and a trending move is beginning.
When the BBWP hits a high level > 95 % and then falls below its moving average ... this can be an early signal that a trending move is ending and a consolidation phase is beginning.
Essential knowledge :
The BBWP was designed with the daily timeframe in mind, but technical analysists may find use for it on other time frames also.
High and Low BBWP readings do not entail any direction bias.
Deeper Concepts :
In finance, “mean reversion” is the assumption that a financial instrument's price will tend to move towards the average price over time.
If we apply that same logic to volatility as represented here by the Bollinger band width percentile, the assumption is that the Bollinger band width percentile will tend to contract from extreme highs, and expand from extreme lows over time corresponding to repeated phases of contraction and expansion of volatility.
It is clear that for most assets there are periods of directional trending behavior followed by periods of “consolidation” ( trading sideways in a range ).
This often ends with a tightening range under reducing volume and volatility ( popularly known as “the squeeze” ).
The squeeze typically ends with a “breakout” from the range characterized by a rapid increase in volume, and volatility when price action again trends directionally, and the cycle repeats.
Typical Use Cases :
The Bollinger Band Width Percentile may be especially useful for Options traders, as it can provide a bias for when Options are relatively expensive, or inexpensive from a Volatility (Vega) perspective.
When the Bollinger Band Width Percentile is relatively high ( 85 percentile or above ) it may be more advantageous to be a net seller of Vega.
When the Bollinger Band Width Percentile is relatively low ( 15 percentile or below ) it may be advantageous to be net long Vega.
Here we examine a number of actionable signals on BTCUSD daily timeframe using the BBWP and a momentum oscillator ( using the TSI here but can equally be used with Bollinger bands, moving averages, or the traders preferred momentum oscillator ).
In this first case we will examine how a spot trader and an options trader could each use a low BBWP read to alert them to a good potential trade setup.
note: using a period of 30 for both the Bollinger bands and the BBWP period ( approximately a month ) and a BBWP lookback of 350 ( approximately a year )
As we see the Bollinger Bands have gradually contracted while price action trended down and the BBWP also fell consistently while below its moving average ( denoting falling volatility ) down to an extremely low level <5% until it broke above its moving average along with a break of range to the upside ( signaling the end of the consolidation at a low level and the beginning of a new trending move to the upside with expanding volatility).
In this next case we will continue to follow the price action presuming that the traders have taken or locked in profit at reasonable take profit levels from the previous trade setup.
Here we see the contraction of the Bollinger bands, and the BBWP alongside price action breaking below the BB Basis giving a warning that the trending move to the upside is likely over.
We then see the BBWP rising and getting above its moving average while price action fails to get above the BB Basis, likewise the TSI fails to get above its signal line and actually crosses below its zeroline.
The trader would normally take this as a signal that the next trending move could be to the downside.
The next trending move turns out to be a dramatic downside move which causes the BBWP to hit 100% signaling that volatility is likely to hit a maximum giving good opportunities for profitable trades to the skilled trader as outlined.
Limitations :
Here we will look at 2 cases where blindly taking BBWP signals could cause the trader to take a failed trade.
In this first example we will look at blindly taking a low volatility options trade
Low Volatility and corresponding low BBWP levels do not automatically mean there has to be expansion immediately, these periods of extreme low volatility can go on for quite some time.
In this second example we will look at blindly taking a high volatility spot short trade
High volatility and corresponding high BBWP levels do not automatically mean there has to be a macro high and contraction of volatility immediately, these periods of extreme high volatility can also go on for quite some time, hence the famous saying "The trend is your friend until the end of the trend" and lesser well known, but equally valid saying "never try to short the top of a parabolic blow off top"
Markets are variable and past performance is no guarantee of future results, this is not financial advice, I am not a financial advisor.
Final thoughts
The BBWP is an improvement over the BBW in my opinion, and is a novel, and useful addition to a Technical Analysts toolkit.
It is not a standalone indicator and is meant to be used in conjunction with other tools for direction bias, and Good Risk Management to base sound trades off.
John Bollinger has suggested using Bolliger bands, and its related indicators with two or three other non-correlated indicators that provide more direct market signals.
He believes it is crucial to use indicators based on different types of data.
Some of his favored technical techniques are moving average divergence/convergence (MACD), on-balance volume and relative strength index (RSI).
Thanks
Massive respect to John Bollinger, long-time technician of the markets, and legendary creator of both the Bollinger Bands® in the 1980´s, and the Bollinger band Width indicator in 2010 which this indicator is based on.
His work continues to inspire, decades after he brought the original Bollinger Bands to the market.
Much respect also to Eric Crown who gave me the fundamental knowledge of Technical Analysis, and Options trading.
[DS]Entry_Exit_TRADE.V01-StrategyThe proposal of this script is to show the possible trading points of BUY and SELL based on the 15-minute chart of the Nasdaq Future Index. The start point of the strategy was schedule for 2021/01/01 and until the time of this publication (2021/01/31), for 1 index contract the results presented area a Gross Profit of 2.97% with a Net Profit of 1.35%.
█ FEATURES
The indicator shows on the graph the position of the MACD and TSI indicators that are the places of strength among Buyers and Sellers.
It's possible to observe a sharp fall or rise in the price of these positions.
On the current candle, a label is displayed containing the value of the William %R Mod indicator, which will display the OverBought position (dark red) and OverSold position (dark green). The other colors like light red and green are the regions where the price makes the decision of which direction to go.
There are also other indicators:
a) The positions of the BUY (light green) and SELL areas (light red);
b) The label with the position of BUY (dark green) and SELL (dark red) with the line that connects these points;
c) DEMA 72 (orange);
d) EmaOchl4 in the color green for BULL and red for BEAR market;
e) Pivots high and low
f) Maximum (purple light) and minimum areas (blue light)
█ FUNCTIONS AND SETTINGS
The indicator uses the following functions:
(1) DEMA - Double Exponential Moving Average (08,17,34, 72)
(2) ema () - Exponential Moving Averge (72, ohlc4)
(3) plot()
(4) barcolor()
(5) cross()
(6) pivots ()
(7) William R% Md (OverBought = -7, OverSold=-93)
(8) Maximum and Minimum Value
(9) fill()
(10) macd () - Moving Average Convergence Divergence (Fast Lengt=12, Slow Length=26, Source=close, Signal Smoothing=9)
(11) tsi() - Trading Strenght Indicator==> Índice de Força Real ( IFR ) (Long Length=72, Short Length=17, Signal Length=17)
(12) Buy and Sell TRADE Points
█ PERFORMANCE AND ERRORS
The positions of BUY and SELL points are defined through the crossing of the Dema 34 candles with the Ema Ohcl4. As it is an indicator, it can present different positions from de market direction. Thus there is a need to observe the direction of the market in order to verify whether the indicate decision is really acceptable. The decision to BUY or SELL an asset must be well studied to avoid financial losses. The indicator will only help you in this decision, is your responsibility the decision of entering or leaving an asset.
█ THANKS TO
PineCoders for all they do, all the tools and help they provide, and their involvement in making a better community. All the PineCoders, Pine Pros, and Pine Wizards, people who share their work and knowledge for the sake of it and helping others, I'm very happy and grate full indeed.
█ NOTE
If you have any suggestions for improving the script or need help using it, please send a message in the comments
TKP-True Relative MovementThis script uses a combination of modified TSI and RSI conditions produce Buy/Sell/Hold signals. Similar to Elder's Impulse, when a buy signal is met, bars turn blue. When a sell signal is met, bars turn Pink. When signals are mixed, bars turn grey. Depending on direction of trend, gray bars can be considered "Hold" or take profit signals. You can change the parameters of TSI or RSI to preference. Also embedded in the script is the ability to add exponential moving average filter for additional conditions if you have some know how with coding.
Currency Strength ALT v1.0Description:
This study is a version of Currency Strength Meter, that utilises TradingViews built-in 8 Currency indices (?XY), rather calculate them from currency pair values. It also utilises the built-in TSI function, the TSI uses moving averages of the underlying momentum of a financial instrument. The advantage of using the Currency Indices for strength is the fact that they are based on multiple Exchange sources and so hopefully making it more representative.
***WARNING*** The TradingView Currency Indices do tend to have gaps between candles especially on the low volume currencies like NZD and AUD, so strength chart can also jump around. I suggest using the indicator with higher TF (4H+) charts.
8 Pair Strength R2.0 updated by JustUncleLThis is an updated script Originally written by @glaz
Description:
This study is a version of Currency Strength Meter, that utilises TradingView's built-in "True Strength Index" (TSI) function. The TSI uses moving averages of the underlying momentum of a financial instrument.
Modifications:
10-Nov-2017 by JustUncleL
Corrected the weighting on JPY pairs, by dividing their close values by 100 to bring them within 1.0 range of the other pairs.
Added option to use different Data Source, eg hl2, hlc3, ohlc4 etc.
Updated to PineScript version 3.
Updated variable names to reflect their origin.
SMI Ergodic Oscillator ColorSMI Ergodic Oscillator Color. A variation of the True Strength Index (TSI), the SMI Ergodic Oscillator is a momentum indicator used to identify trend direction and potential reversals. It consists of a double-smoothed price momentum line and a signal line, helping traders spot buy and sell signals when the two lines cross. It is particularly useful for filtering out market noise and confirming the strength of a trend.
Ria TsiPlots TTM Squeeze momentum histogram (green/red).
Plots RSI (blue) in the same pane.
Shows squeeze dots and RSI overbought/oversold lines.
Custom Screener with Alerts @RAMLAKSHMANDASScan the Nifty 50 directly on TradingView!
This script provides a real-time screener for the top 40 Nifty 50 stocks ranked by current index weightage (starting from RELIANCE, HDFCBANK, ICICIBANK, etc.), offering rapid on-chart multi-symbol analysis.
Features
Multi-symbol screener: Monitors the leading 40 Nifty constituents (NSE equities) in one view.
Full indicator table: Get snapshot values for Price, RSI, TSI, ADX, and SuperTrend for every symbol.
Dynamic filtering: Instantly filter results by any indicator value (e.g., highlight all stocks with RSI below 30).
Customizable symbols: Easily edit the symbol list to match updated Nifty composition or your stocks of interest.
Multi-timeframe support: Table values will update for any chosen chart timeframe.
Real-time alerts: Set up alerts for filtered stocks matching your strategy.
Professional MSTI+ Trading Indicator"Professional MSTI+ Trading Indicator" is a comprehensive technical analysis tool that combines over 20 indicators to generate high-quality trading signals and assess market sentiment. The script integrates standard indicators (MACD, RSI, Bollinger Bands, Stochastic, Simple Moving Averages, and Volume Analysis) with advanced components (Squeeze Momentum, Fisher Transform, True Strength Index, Heikin-Ashi, Laguerre RSI, Hull MA) and further includes metrics such as ADX, Chaikin Money Flow, Williams %R, VWAP, and EMA for in-depth market analysis.
Key Features:
Multiple Presets for Different Trading Styles:
Choose from optimal configurations like Professional, Swing Trading, Day Trading, Scalping, or Reversal Hunter. Note that the presets may not work perfectly on all pairs, and manual calibration might be required. This flexibility allows you to fine-tune the settings to align with your unique strategies and signals.
Multi-Layered Signal Filtering:
Filters based on trend, volume, and volatility help eliminate false signals, enhancing the accuracy of market entries.
Comprehensive Fear & Greed Index:
The indicator aggregates data from RSI, volatility, momentum, trend, and volume to gauge overall market sentiment, providing an additional layer of market context.
Dynamic Information Panel:
Displays detailed status updates for each component (e.g., MACD, RSI, Laguerre RSI, TSI, Fisher Transform, Squeeze, Hull MA, etc.) along with a visual strength bar that represents the intensity of the trading signal.
Signal Generation:
Buy and sell signals are generated when a predefined number of conditions are met and confirmed over multiple bars. These signals are clearly displayed on the chart with arrows, making it easier to spot potential entry and exit points.
Alert Setup:
Built-in alert conditions allow you to receive real-time notifications when trading signals are generated, helping you stay on top of market movements.
"Professional MSTI+ Trading Indicator" is designed to enhance your trading strategy by providing a multi-faceted market analysis and an intuitive visual interface. While the presets offer a robust starting point, they may require manual calibration on certain pairs, giving you the flexibility to configure your own unique strategies and signals.
FiveFactorEdgeUses ATR14, TSI, RSI, Fast Stochastic and Slow Stochastic information to determine potential high and low price, trend strength and direction. The information ia easy to read, self-descriptive and color coded for quick reference. Since it incorporates 5 different elements it could be used by itself but as with any indicator it's highly recommended to use it with other tried and true indicators.
Cryptocurrency StrengthMulti-Currency Analysis: Monitor up to 19 different currencies simultaneously, including major pairs like USD, EUR, JPY, and GBP, as well as emerging market currencies such as CNY, INR, and BRL.
Customizable Display: Easily toggle the visibility of each currency and personalize their colors to suit your preferences, allowing for a tailored analysis experience.
Real-Time Strength Measurement: The indicator calculates and displays the relative strength of each currency in real-time, helping you identify potential trends and trading opportunities.
Clear Visual Representation: With color-coded lines and a dynamic legend, the indicator presents complex currency relationships in an easy-to-understand format.
Advantages
Comprehensive Market View: Gain insights into the broader forex market dynamics by analyzing multiple currencies at once.
Trend Identification: Quickly spot strong and weak currencies, aiding in the identification of potential trending pairs.
Divergence Detection: Use the indicator to identify divergences between currency strength and price action, potentially signaling reversals or continuation patterns.
Flexible Time Frames: Apply the indicator across various time frames to align with your trading strategy, from intraday to long-term analysis.
Enhanced Decision Making: Make more informed trading decisions by understanding the relative strength of currencies involved in your trades.
Unique Qualities
TSI-Based Calculations: Utilizes the True Strength Index for a more nuanced and responsive measure of currency strength compared to simple price-based indicators.
Adaptive Legend: The indicator features a dynamic legend that updates automatically based on the selected currencies, ensuring a clutter-free and relevant display.
Emerging Market Inclusion: Unlike many standard currency strength indicators, this tool includes a wide range of emerging market currencies, providing a truly global perspective.
Whether you're a seasoned forex trader or just starting out, this Currency Strength Indicator offers valuable insights that can complement your existing strategy and potentially improve your trading outcomes. Its combination of comprehensive analysis, customization options, and clear visualization makes it an essential tool for navigating the complex world of currency trading.
*2.2 Aggregated (Raw Z-scores with MA)***To be used with other 2.2 indicator***
Key Indicators Used:
Oscillating Indicators: RSI, TSI, Stochastic, MACD, CCI, Vortex Indicator, Williams %R.
Perpetual Trend Indicators: EMA, ADX, Parabolic SAR, Supertrend, Donchian Channel, Ichimoku Cloud, RVGI.
How to Use the Indicator:
Raw Z-Score (Blue Line): This represents the real-time aggregated Z-score of all the indicators. It shows how far the current market conditions are from their average, helping you identify trends.
Moving Average of Z-Score (Orange Line): A smoothed version of the Z-score that helps confirm trends and eliminate noise.
Shaded Area: The area between the Z-score and its moving average is shaded green if the Z-score is above the moving average (bullish), and red if below the moving average (bearish).
Zero Line (Gray Line): Serves as a reference point. A Z-score crossing above zero could signal a bullish market, while crossing below zero could indicate bearish conditions.
This indicator helps in identifying market extremes and trend reversals by combining various technical indicators into a single aggregate score, ideal for spotting overbought or oversold conditions and possible trend shifts
Futures All List / Sell SignalAs of May 2023, there are more than 180 usdt perpetual coins on the binance futures exchange. These coins are included in the indicator in lists of 40. They are sorted instantly in the table from largest to smallest. The sorting style can be changed in the indicator settings. This indicator collects RSI and TSI values at desired values. The result has a maximum value of 600. A value of 600 signals that the price will decrease or remain stable for a certain period of time. Generally, a short can be expected from the closest point to 600. If 3 separate lists are selected by using 3 of these indicators, 120 coins can be analyzed at the same time. Available in all time zones. Examine it in a 3-minute timeframe. The line inside the indicator draws the instantaneous values of the relevant coin.
T3 OscillatorTL;DR - An Oscillator based on T3 moving average
The T3 moving average is a well known moving average created by Tim TIllson. Oscillator values are created by using the simple formula "source (close by default) - T3 moving average". Tim Tillson used a "volume factor" of 0.7 in his original T3 calculation. I changed this value to 0.618 and added the option to change it if needed/wanted. I also added alarms for zero line crossing upwards and downward, a smoothing option and custom time frames.
Compared to other oscillators like TSI, MACD etc. I observed better signals, especially in trending market situations, from the T3 oscillator (I tested Forex and Crypto).
Usage is simple: If the oscillator is above 0 it indicates a bearish trend. If below 0 it indicates a bullish trend. -> Really simple to use. However it can also be used to determine micro trends and reversals when combined with price action analysis. To keeps things simple I have not added a moving average like many other oscillators because I think it is confusing and does not help (in this particular case).
P.S. I haven't found a T3 oscillator on Trading View. Code is free - do whatever you want with it ;)
Simple Momentum and Trend, Fixed PnL Strategy for SPY 1D [SR]This strategy uses an ATR rule to assess momentum and a TSI rule to assess bullish or bearishness
It has a fixed stop at 50 points, and fixed take profit at 300 pips
It provides a very satisfyingly smooth equity line with a max drawdown below 5% and realized profit over 200%
This is the initial version as I work out optimizations and add plots to the chart based on the strategy's actions.
I would love to get the community's feedback and help as I'm new. Not sure how to limit the date range of the backtest to make it more realistic. I'm also not certain how to plot it best.
