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Elliott's Quadratic Momentum - Strategy [presentTrading]█ Introduction and How It Is Different The "Elliott's Quadratic Momentum - Strategy" is a unique and innovative approach in the realm of technical trading. This strategy is a fusion of multiple SuperTrend indicators combined with an Elliott Wave-like pattern analysis, offering a comprehensive and dynamic trading tool. It stands apart from conventional strategies by incorporating multiple layers of trend analysis, thereby providing a more robust and nuanced view of market movements. *Although the script doesn't explicitly analyze Elliott Wave patterns, it employs a wave-like approach by considering multiple SuperTrend indicators. Elliott Wave theory is based on the premise that markets move in predictable wave patterns. While this script doesn't identify specific Elliott Wave structures like impulsive and corrective waves, the sequential checking of trend conditions across multiple SuperTrend indicators mimics a wave-like progression. BTC 8hr Long/Short Performance Local Detail █ Strategy, How It Works: Detailed Explanation The core of this strategy lies in its multi-tiered approach: 1. Multiple SuperTrend Indicators: The strategy employs four different SuperTrend indicators, each with unique ATR lengths and multipliers. These indicators offer various perspectives on market trends, ranging from short to long-term views. By analyzing the convergence of these indicators, the strategy can pinpoint robust entry signals for both long and short positions. 2. Elliott Wave-like Pattern Recognition: While not directly applying Elliott Wave theory, the strategy takes inspiration from its pattern recognition approach. It looks for alignments in market movements that resemble the characteristic waves of Elliott's theory. This pattern recognition aids in confirming the signals provided by the SuperTrend indicators, adding an extra layer of validation to the trading signals. 3. Comprehensive Market Analysis: By combining multiple indicators and pattern analysis, the strategy offers a holistic view of the market. This allows for capturing potential trend reversals and significant market moves early. █ Trade Direction The strategy is designed with flexibility in mind, allowing traders to select their preferred trading direction – Long, Short, or Both. This adaptability is key for traders looking to tailor their approach to different market conditions or personal trading styles. The strategy automatically adjusts its logic based on the chosen direction, ensuring that traders are always aligned with their strategic objectives. █ Usage To utilize the "Elliott's Quadratic Momentum - Strategy" effectively: Traders should first determine their trading direction and adjust the SuperTrend settings according to their market analysis and risk appetite. The strategy is versatile and can be applied across various time frames and asset classes, making it suitable for a wide range of trading scenarios. It's particularly effective in trending markets, where the alignment of multiple SuperTrend indicators can provide strong trade signals. █ Default Settings Trading Direction: Configurable (Long, Short, Both) SuperTrend Settings: SuperTrend 1: ATR Length 7, Multiplier 4.0 SuperTrend 2: ATR Length 14, Multiplier 3.618 SuperTrend 3: ATR Length 21, Multiplier 3.5 SuperTrend 4: ATR Length 28, Multiplier 3.382 Additional Settings: Gradient effect for trend visualization, customizable color schemes for upward and downward trends.
Strategia Pine Script®
di PresentTrading
5
Bearish ABCD Harmonic Patterns [theEccentricTrader]█   OVERVIEW This indicator automatically draws bearish ABCD harmonic patterns and price projections derived from the ranges that constitute the patterns. █   CONCEPTS Green and Red Candles • A green candle is one that closes with a close price equal to or above the price it opened. • A red candle is one that closes with a close price that is lower than the price it opened. Swing Highs and Swing Lows • A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak. • A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough. Peak and Trough Prices (Basic) • The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher. • The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower. Historic Peaks and Troughs The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one. Range The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips. Support and Resistance • Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further. • Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further. Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down. It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction. Upper Trends • A return line uptrend is formed when the current peak price is higher than the preceding peak price. • A downtrend is formed when the current peak price is lower than the preceding peak price. • A double-top is formed when the current peak price is equal to the preceding peak price. Lower Trends • An uptrend is formed when the current trough price is higher than the preceding trough price. • A return line downtrend is formed when the current trough price is lower than the preceding trough price. • A double-bottom is formed when the current trough price is equal to the preceding trough price. Muti-Part Upper and Lower Trends • A multi-part return line uptrend begins with the formation of a new return line uptrend, or higher peak, and continues until a new downtrend, or lower peak, completes the trend. • A multi-part downtrend begins with the formation of a new downtrend, or lower peak, and continues until a new return line uptrend, or higher peak, completes the trend. • A multi-part uptrend begins with the formation of a new uptrend, or higher trough, and continues until a new return line downtrend, or lower trough, completes the trend. • A multi-part return line downtrend begins with the formation of a new return line downtrend, or lower trough, and continues until a new uptrend, or higher trough, completes the trend. Double Trends • A double uptrend is formed when the current trough price is higher than the preceding trough price and the current peak price is higher than the preceding peak price. • A double downtrend is formed when the current peak price is lower than the preceding peak price and the current trough price is lower than the preceding trough price. Muti-Part Double Trends • A multi-part double uptrend begins with the formation of a new uptrend that proceeds a new return line uptrend, and continues until a new downtrend or return line downtrend ends the trend. • A multi-part double downtrend begins with the formation of a new downtrend that proceeds a new return line downtrend, and continues until a new uptrend or return line uptrend ends the trend. Wave Cycles A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa. Figure 1. Fibonacci Retracement and Extension Ratios The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on. 1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven. Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak. Harmonic Patterns The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements. Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern. The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves. Bullish and Bearish ABCD Patterns • Bullish ABCD patterns are fundamentally composed of two peaks and two troughs, with the second peak being lower than the first peak and the second trough being lower than the first trough. Which is the same as a double downtrend. • Bearish ABCD patterns are fundamentally composed of two troughs and two peaks, with the second trough being higher than the first trough and the second peak being higher than the first peak. Which is the same as a double uptrend. The most commonly recognised ratio measurements used by traders today are as follows: • Wave 1 of the pattern, generally referred to as AB, has no specific ratio requirements. • Wave 2 of the pattern, generally referred to as BC, should retrace by at least 61.8%, but no further than 78.6% of the range set by wave 1. • Wave 3 of the pattern, generally referred to as CD, should extend to at least 127.2%, but no further than 161.8% of the range set by wave 2. Measurement Tolerances In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences. For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence. █   FEATURES Inputs • BC Lower Tolerance • BC Upper Tolerance • CD Lower Tolerance • CD Upper Tolerance • Pattern Color • Label Color • Show Projections • Extend Current Projection Lines █   LIMITATIONS All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Indicatore Pine Script®
di theEccentricTrader
Bullish ABCD Harmonic Patterns [theEccentricTrader]█   OVERVIEW This indicator automatically draws bullish ABCD harmonic patterns and price projections derived from the ranges that constitute the patterns. █   CONCEPTS Green and Red Candles • A green candle is one that closes with a close price equal to or above the price it opened. • A red candle is one that closes with a close price that is lower than the price it opened. Swing Highs and Swing Lows • A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak. • A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough. Peak and Trough Prices (Basic) • The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher. • The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower. Historic Peaks and Troughs The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one. Range The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips. Support and Resistance • Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further. • Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further. Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down. It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction. Upper Trends • A return line uptrend is formed when the current peak price is higher than the preceding peak price. • A downtrend is formed when the current peak price is lower than the preceding peak price. • A double-top is formed when the current peak price is equal to the preceding peak price. Lower Trends • An uptrend is formed when the current trough price is higher than the preceding trough price. • A return line downtrend is formed when the current trough price is lower than the preceding trough price. • A double-bottom is formed when the current trough price is equal to the preceding trough price. Muti-Part Upper and Lower Trends • A multi-part return line uptrend begins with the formation of a new return line uptrend, or higher peak, and continues until a new downtrend, or lower peak, completes the trend. • A multi-part downtrend begins with the formation of a new downtrend, or lower peak, and continues until a new return line uptrend, or higher peak, completes the trend. • A multi-part uptrend begins with the formation of a new uptrend, or higher trough, and continues until a new return line downtrend, or lower trough, completes the trend. • A multi-part return line downtrend begins with the formation of a new return line downtrend, or lower trough, and continues until a new uptrend, or higher trough, completes the trend. Double Trends • A double uptrend is formed when the current trough price is higher than the preceding trough price and the current peak price is higher than the preceding peak price. • A double downtrend is formed when the current peak price is lower than the preceding peak price and the current trough price is lower than the preceding trough price. Muti-Part Double Trends • A multi-part double uptrend begins with the formation of a new uptrend that proceeds a new return line uptrend, and continues until a new downtrend or return line downtrend ends the trend. • A multi-part double downtrend begins with the formation of a new downtrend that proceeds a new return line downtrend, and continues until a new uptrend or return line uptrend ends the trend. Wave Cycles A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa. Figure 1. Fibonacci Retracement and Extension Ratios The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on. 1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven. Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak. Harmonic Patterns The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements. Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern. The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves. Bullish and Bearish ABCD Patterns • Bullish ABCD patterns are fundamentally composed of two peaks and two troughs, with the second peak being lower than the first peak and the second trough being lower than the first trough. Which is the same as a double downtrend. • Bearish ABCD patterns are fundamentally composed of two troughs and two peaks, with the second trough being higher than the first trough and the second peak being higher than the first peak. Which is the same as a double uptrend. The most commonly recognised ratio measurements used by traders today are as follows: • Wave 1 of the pattern, generally referred to as AB, has no specific ratio requirements. • Wave 2 of the pattern, generally referred to as BC, should retrace by at least 61.8%, but no further than 78.6% of the range set by wave 1. • Wave 3 of the pattern, generally referred to as CD, should extend to at least 127.2%, but no further than 161.8% of the range set by wave 2. Measurement Tolerances In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences. For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence. █   FEATURES Inputs • BC Lower Tolerance • BC Upper Tolerance • CD Lower Tolerance • CD Upper Tolerance • Pattern Color • Label Color • Show Projections • Extend Current Projection Lines █   LIMITATIONS All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Indicatore Pine Script®
di theEccentricTrader
2
Trend/Retracement - ZigZag - New wayZigZag for Trend and Retracements - New way It's another way to plot ZigZag based on lookback period for trend and % of trend lookback period to plot retracements. █ OVERVIEW Plot ZigZag, Trend lines, Retracements, Support levels, Resistance levels █ Objective: Draw ZigZag lines along with unbroken support and resistance levels. ZigZag lines are drawn for main trend and the retracements. Main Trend – This is calculated based on lookback period. Retracements – Retracements are calculated as 25% of main trend. Support and Resistance line: The indicator draws 2 types of support and resistance lines 1. Un-broken – Once formed (plotted), these are the support and resistance which are not yet broken 2. Tested – One can also choose to see support and resistance lines which are tested but not broken. Tested support/resistance are those levels which are touched by high/low price but close price has not crossed the level. █ How main trend point is calculated: E.g. Chart timeframe = 15m Lookback period = 250 Retracement = 25% of main trend ( 25% of 250 = 62 ) A price point on a chart is considered as trend point if distance between current price and previous highest price is 250 candles A price point is considered as a retracement if distance between current price and previous highest price is 62 candles. Please note retracements are calculated only after finding a main trend point. █ Input parameters: Zigzag Parameters Use predefined Lookback – If checked pre-defined timeframe-based lookback parameters are used. Trend lookback candles – If ‘Use predefined Lookback’ is unchecked then this value is used as lookback period. Retracement % of look back candles– If ‘Use predefined Lookback’ is unchecked then this value is used for calculating retracement lookback period Mark retracements – If unchecked only main trend lines are plotted Plot support/resistance – To plot support/resistance levels Show support/resistance tested lines – If checked tested support/resistance liens are shown on the chart █ TF based Lookback period config (Defaults are set as specified below, One can change these defaults to use different lookback periods) The defaults set here are used based on the chart timeframe. e.g. if chart timeframe is changed from say 15m to 60m then 60m chart defaults (i.e. trend lookback = 90) are used to plot the trend and the retracements. At the bottom-right of the chart, parameters used for plotting are displayed all the time. Timeframe in minute – Default = 5m Trend lookback candles – Default = 375 (~ 5 days of data) Timeframe in minute – Default = 15m Trend lookback candles – Default = 250 (~10 days of data) Timeframe in minute – Default = 60m Trend lookback candles = Default = 90 (~ 15 days of data) Trend lookback candles for timeframe 'D' – Default = 30 (~1 month data) Trend lookback candles for timeframe 'W' – Default = 21 (~6 months data) Trend lookback candles for timeframe 'M' – Default = 12 (~1year data) Retracement % of look back candles – Default = 25% █ When and where one can use this indicator (Refer to chart examples) To view support and resistance based on lookback period To view ZigZag lines One can use it to find chart patterns easily Trend and retracement lines can help in drawing Elliott waves. █ Chart examples: 1. Chart patterns can be easily identified - One can disable the candle charts which will help to identify and draw chart patterns easily 2. Trend and retracement lines can also help is analyzing charts (e.g. Elliott Waves can be marked based on trend lines) 3. Tested but not broken support and resistance lines can be viewed 4. You can select 'NOT' to plot tested support and resistance lines 5. Uncheck the Mark retracements to plot main trend lines (Retracements are not marked)
Indicatore Pine Script®
di Sharad_Gaikwad
16
München's Momentum WaveMUNICH'S MOMENTUM WAVE: This momentum tracker has features sampled from Madrid's moving average ribbon but has differentiated many values, parameters, and usage of integers. It is derived using momentum and then creates moving averages and mean lengths to help support the strength of a move in price action, and also has the key mean length that helps determine HL/LH or rejections into trend continuation. This indicator works on ALL TIME FRAMES, ALL ASSET CLASSES ON ALL SETTINGS!! HOW DO I USE IT? *First off, I have arranged the input settings into groups based on the parts of the indicator it affects. *You want to use the aqua/white/yellow (Munich's line) as your leading indicator, this is a combined average of the MoM indicator. * When using Munich's line you want to look at the relation to the mean line (the flat line that adjusts based on price action. You will often see rejections of this line into trend continuation. I personally have caught perfect LH/HL bounce trades off of this indicator. * Use the Background and other colored moving averages to help pre-determine moves based on the -3 offset value of Munich's line. This was by design not to create 'accurate' results, but to help predict momentum swings based on sharper moves in price action better than if all values lined up to the current bar. Cheat Code's Notes: I hope you guys find this indicator to be useful, this is most likely the best indicator that I have written. Simply for the fact it is useful on any chart, any timeframe with any setting. If you guys have any issues with it, shoot me a pm or drop a comment. Thanks! -CheatCode1 BINANCE:BTCUSDT BITSTAMP:ETHUSD BITSTAMP:BTCUSD PEPPERSTONE:JPYX TVC:DXY TVC:NDQ AMEX:SPY
Indicatore Pine Script®
di CheatCode1
1
All TimeFrame OscillatorsI have always fighted to understand the market direction because it looks different on different timeframes. I wanted an indicator where I can see all the different timeframes at once. This indicator shows already existing oscillators but not only in the current chart's timeframe, but all the most important higer timeframes at once. I have started with the stoch, then added as many oscillators as I could. Experimenting with this I have saw that confluence of 4H 1D and 1W Stoch can be very interesting and can highlight higher timeframe take profit areas and sometimes major tops/bottoms. Also bounces can be interesting when a lower timeframe stoch is bounced or rejected from a higher one. Oscillators: Stoch - Stochastic Oscillator SMI - Stochastic Momentum Index Rsi - Relative Strength Index StochRsi - Stochastic RSI WaveTrend - Vumanchu alias Market Cypher Wave Trend line CCI - Commodity Channel Index CCIStoch - Stochastic CCI Williams Percent Range - Williams %R Norm. MACD - Normalized Moving Average Convergence Divergence Norm. MACD Hist - Normalized MACD Histogramm PVT - Normalized Price Volume Trend MFI - Money Flow Index CMF - Chaikin Money Flow Chande Momentum - Chande Momentum Volume - Normalized Volume CandleValue - Vumanchu alias Market Cypher MoneyFlow BBWP - Bollinger Band Width Percentile Line Type Smooth: lines are smoothed, but the actualy not closed values are not shown Step: Step lines, the actually open timeframes are calculated as they closed at the current values Plot Oscillator or it's Slope: its possible to not plot the oscillator but it's slope Print dots when: Cross Up/Down oversold/overbougt level - best for most oscillators. for example when Stoch crosses above 20 or below 80 Cross os/ob and the one higher TF is about to cross - when it's crosses beolw 80 and the higher timeframe oscillator is still above ans sloping down Cross above/below middle line - for example on RSI being above or below 50 can be interesting Print triangles when: All Slope Match - all visible timeframe lines are pointing up or down at the same time All above/belove middle line - all visible lines are above or belove the middle line All above/belove middle line and slope match - like the previous one and the slope direction is the same All above/below oversold/overbougt - all lines are above or below os/ ob. this is the default. it can be a very important confluence Lower TF in order - 5, 15, 30, 60 minute timeframes are in order. Higher TF in order - 4H 1D 1W in order (like 4H above 1D abd 1D above 1W). can be interesting at RSI 4H-1D in order - 4H 1D in order . Print triangles Print all triangles - print all triangles when the condition is met Print only first triangles - only show when the condition starts to met Print only last triangles - small triangles when the condition met first, large when last. tis is the default. Timeframes to show: You can turn on/off different timeframs to show or not from the list below: 1m 5m 15m 30m 1H 4H D 5D W M This is for experimenting/ understanding the market direction on multiple timeframes at once. Don't take it's signals (and any other indicator's) as exact trade signals. use it as confirmation instead. Any comments, insights, ideas are welcome.
Indicatore Pine Script®
di engemcsakugyhoztak
4
Whale Momentum Wave Oscillator//Credits: @Noldo - Whale Trading System @rumpypumpydumpy - ALMA Ribbons @QuantNomad - Elastic Volume Weighted Moving Average Composite Indicator, created by taking QuantNomad's EVWMA and using that as input for a variation of rumpypumpydumpy's ALMA Ribbons. Each Ribbon had its sub ribbons summed up and then averaged. The averages were then fed through the ta.rsi and the ta.mom functions giving us our momentum waves. Signal line created from the close value being fed through the ta. ema into the ta.rsi then ta.wma then ta.mom function. Why those in that order? No reason in particular just what I stumbled upon after many variations. I then overlayed Noldo's Whale Trading System to view what "whales" were doing, giving us a good view of when capital is flowing into and out the asset which often contradicts the momentum waves prior to trend changes. Provides a nice visual for how capital is moving along with momentum. Can see when smart money is buying up a big dip or of they seem to still be waiting on the sidelines.
Indicatore Pine Script®
di EsIstTurnt
11
Trend MasterThis is a trend aggregator for confirmation and trend signals. It basically aggregates many buy/sell signals and confirmation and by combining them provides a strong buy/sell signal or trend confirmation. The actual layout idea and trend confirmation is derived from Trend Meter and this indicator uses few other indicator, such as Chandelier Exit, WaveTrend, QQE Signals, Parabolic SAR and AlphaTrend. This indicator aggregates signal from different methods to find out more powerful and confirmed Trend and combines them into one Signal. It also uses Technical Ratings from TradingView team to filter out false signal, it tremendously opts out false signals and improve profitability. The first seven dots are these All 3 Trend Meters Now Align MACD Crossover - Fast - 8, 21, 5 RSI 13: > or < 50 RSI 5: > or < 50 MA Crossover MA Crossover Chaikin Money Flow Alphatrend Technical Ratings Then trend Chandelier Exit WaveTrend QQE Signals Parabolic Sar All 3 Trend Meters aligns and A signal from trend i Instructions Change buy/sell policy based on market trend Works on all TimeFrame but gives more accuracy on 4H, 1D. Buy when green big dot appears at the bottom. Sell when red big dot appears at the bottom. Red/green dot at the top line appears when three trend meter is aligned and this is a good confirmation. Any red/green dot below horizontal bars are trend signals. Big red/green got at the bottom appears whenever there's a good confirmation from trend meter and a buy/sell signal comes from any trend signals. Also look on the technical ratings bar, green means buy, red means sell and yellow means neutral. Look for Support or Resistance Levels for price to be attracted to. Find confluence with other indicators. The more Trend meters are lit up the better. Alert 01 Buy Signal = Strong Buy Signal 02 Sell Signal = Strong Sell Signal 03 Buy Signal = Strong Buy Signal 04 Sell Signal = Strong Sell Signal Thanks to TradingView Technical Ratings authors, evergot, Lij_MC, KivancOzbilgic for their work. This indicator was heavily inspired from their work.
Indicatore Pine Script®
di sadmansamee
15
OJLJ Elliott Waves detector (Free)This script is made to identify Elliot Waves by setting a zigzag line as principal source, it identifies patterns with the most common rules, in the chart you will see a number in each wave detected, a wave could have the characteristics to be two different waves so it will be plotted the options that could be, To identify which one is most trustable I suggest to use the Fibonacci levels options as an additional note this is a free update to my existing script. Features: + All waves ? (Option to show just the 5 Wave patterns recognition) + Draw zigzag line (Option to show the zigzag line) + Supports Multiple instruments, from FOREX to Stocks + It works on all the timeframes + Show Fib levels (Option to show the Fibonacci levels) + Fibonacci levels fit test (Green crosses mark were should a Bull wave be to fit with a Fibonacci Level While the purple crosses show were should the wave fit to be a bear trend, the more closer with the point of the wave the most trustable Example, a 5 Wave Bull could also be a 2 Bear Wave, if the green cross is closer to the orange point of the wave then is a 5 Wave Bull, if the purple cross is closer to the orange point) + A background color also show when a 5 pattern is identified + The way to plot the zigzag can be changed with 3 Input options Characteristics to add in future updates (Please if you like it you can support me with coins): + Detect more than 1 cycle at the same time + Use a volume indicator to identify how many volume was traded in each wave + Implement the use of the EWO ( Elliot Wave Oscillator) + Improve the display + Identify ABC patterns + Add triangles and Zigzag formations
Indicatore Pine Script®
di Oscar118
24
Elliot Wave - ImpulseLets dabble a bit into Elliot Waves. This is a simple script which tries to identify Wave 1 and 2 of Elliot Impulese Wave and then projects for Wave 3. Ratios are taken from below link: elliottwave-forecast.com - Section 3.1 Impulse Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1 - used for identifying the pattern. Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2 - used for setting the targets Important input parameters Length : Zigzag Length. Keep the numbers low if you are looking for smaller and shorter trades. Keep the numbers high if you are looking for longer and bigger trades. Error Percent : Adjustments for ratios as it is not always possible to find exactly equal retracement ratio. Entry Percent : Once Wave 2 is formed, entry is set after reversing 30% of wave 2. This number can be increased or decreased. Caution: Keeping the number too low may result in false signals. Ignore Trend Direction : If unchecked, it will only look for pattern if Wave 1 has made a higher high. If not, it will ignore Wave 1 condition and only look at wave 1 to 2 ratio. Handle Duplicates : Since, the labels are generated upon crossover of entry price, this crossover may happen multiple times. Or sometimes wave 2 can further extend and generate new signal with same wave 1. This parameter says how to handle such cases. Keep Last is set to default and is most preferred option. ShowRatios and ShowWaves lets you display wave line and retracement ratios for each pivots
Indicatore Pine Script®
di Trendoscope
69
MarketVision BWith Special Thanks to Everyone who has gone before me, and who have both allowed me given me permission to bring my version of Market Cipher to the World Especially LazyBear for his amazing Wave Trend Oscillator and for Aevir, falconCoin, vumanchu, Crypto_Spike and others who have freely brought MarketCipher to the Tradingview Community Also special mention to RicardoSantos for his Divergence script MarketVision B - My take on MarketCipher B / Market Cipher B, Ive just put outlines on the Wave Trend to add to the Visual Appeal and Added a Trend Meter and a few more options for the Oscillators Nice To Look At Oscillator 1 Choose Between - RSI, MFI and Ultimate Oscillator For Stochastics Choose Between Standard and RSI Stochastics and for the source you can choose On Balance Volume Wave Trend Money Flow Trend Meter & Signals Bar Divergences are marked, However they are easy to spot and it is better to train your eyes to spot them before the indicator marks them out Lots of Alerts and Loads of ways to trade using MarketVision PS: You can make this look like the original by adjusting the parameters in the menu
Indicatore Pine Script®
di Lij_MC
70
Ichimoku EMA WaveThis script combines a customizable Ichimoku Cloud/ EMA combination to provide a quick trend visualisation. For example, long entries can be found when the green EMA wave rises above the Ichimoku cloud. Combine it with some oscillators (like MACD) for good results. Also, experimenting with a different "wavelength" (default 50) and/or EMA length (default10) for different securities is a good idea. Script is free to use and to modify at ones liking.
Indicatore Pine Script®
di TradeSL
7
[blackcat] L2 Ehlers Sine Wave Coupled Eight Planetary CycleLevel: 2 Background Have you considered that factors outside the Earth will be related to macro market trends? Let’s discuss the relationship between the planetary movement in the Galaxy and the market movement on Earth today! Although I said that, you may have laughed out in front of the screen, but the calculations in this script are entirely based on astronomical data and mathematical relationships. Your next question may be why you compare the movements of the eight planets and the laws of the market on the earth together? My answer comes from a Cybernetic Sine Wave indicator proposed by Dr. John F. Ehlers. Function L2 Ehlers Sine Wave Coupled Eight Planetary Cycle first converts the astronomical data of the eight major planets into planetary aspects/phases through mathematical relationships. Planetary aspects/phases can provide the historical and current relative positions of each planet in the mathematical triangle relationship. We can use a simple mathematical sine formula to constrain the planet's trajectory between -1 and 1, which is what we often call a sine wave. The relationship between the sine wave and the market can be extracted from the theory of John F. Ehlers. In Ehlers' theory, market price can be modeled by the trend and cycle modes. And in his works, there are many indicators of how to completely remove the trend in the market price and only leave the cycle mode data. The Cybernetic Sine Wave indicator is exactly the cycle mode data after the market trend is stripped, and expressed in the form of a sine wave. If you can read to here with patience, you must also be aware of the premise that the trajectories of the eight planets and the laws of the earth market can be coupled: the trajectory of the sine wave mode. Therefore, this indicator is a tool for comparing and analyzing the two in the same chart. I hope you like it. Finally, in order to benchmark the trajectories of the eight planets and the specific market on the earth, a starting point in time is particularly important. This is the base date of the market index to be analyzed. It is the year, month, and day data specified by the index, which needs to be input by the user when analyzing a specific stock index. For example, the base date of the S&P 500 index is January 3, 1928. This date needs to be entered into the indicator to analyze the SPX500. Key Signal Mercury_trail ---> smoothed Mercury orbit sine wave Venus_trail ---> smoothed Venus orbit sine wave Earth_trail ---> smoothed Earth orbit sine wave Earth_mirror ---> smoothed Earth mirrored orbit sine wave Mars_trail ---> smoothed Mars orbit sine wave Jupiter_trail ---> smoothed Jupiter orbit sine wave Saturn_trail ---> smoothed Saturn orbit sine wave Uranus_trail ---> smoothed Uranus orbit sine wave Neptune_trail ---> smoothed Neptune orbit sine wave Aspect 0, 45, 90, 225, 270 deg ---> key planet aspects ehlersine ---> Ehlers Cybernetic Sine Wave ehlerslsine ---> Ehlers Cybernetic Lead Sine Wave Pros and Cons This is a technical indicator that I have come up with on a whim, and the laws of planetary operation and the operation of the Earth market are still being explored. Hope that interested friends will share your new discoveries. Remarks To celebrate I released the 50th technical indicator script on TV! Courtesy of @sal157011 John Ehlers "Cybernetic Sine Wave" indicator, I converted it from pine v2 to pine v4 in this script. Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Indicatore Pine Script®
di blackcat1402
17
Multi momentum indicatorScript contains couple momentum oscillators all in one pane List of indicators: RSI Stochastic RSI MACD CCI WaveTrend by LazyBear MFI Default active indicators are RSI and Stochastic RSI Other indicators are disabled by default RSI, StochRSI and MFI are modified to be bounded to range from 100 to -100. That's why overbought is 40 and 60 instead 70 and 80 while oversold -40 and -60 instead 30 and 20. MACD and CCI as they are not bounded to 100 or 200 range, they are limited to 100 - -100 by default when activated (extras are simply hidden) but there is an option to show full indicator. In settings there are couple more options like show crosses or show only histogram. Default source for all indicators is close (except WaveTrend and MFI which use hlc3) and it could be changed but for all indicators. There is an option for 2nd RSI which can be set for any timeframe and background calculated by Fibonacci levels.
Indicatore Pine Script®
di prela
7
Zero Lag - ZigZag - JDThis is a alternative version of the well known "ZigZag indicator" but it uses turning points of the Jurik ma instead of the traditional "pivot points" that are by definition lagging by a large lookback period, the (almost-) Zero Lag ZigZag lags by about 2 bars on average (depending on the candles forming) The ZigZag pattern can be used to draw trendlines and S/R lines It can also be used for "wave counting" in a way that reduces interpretation. If you find other uses, please leave your ideas in the comments! Shoutout to Everget for the awesome Jurik code!! JD. #NotTradingAdvice #DYOR
Indicatore Pine Script®
di Duyck
50
Kyber Cell's – TTM Wave AThe Kyber Cell’s Wave A – TTM Squeeze Momentum Histogram ⸻ 1. Introduction Wave A is the momentum core of the TTM Squeeze system. As the most dynamic and visually responsive of the three “waves,” it captures the ebb and flow of price strength using linear regression techniques. This histogram-based indicator is typically displayed below the chart and serves as an early warning system for potential breakouts, as well as a momentum health monitor during trades. Built for traders who value precision, timing, and visual clarity, Kyber Cell’s Wave A re-engineers the traditional TTM Wave A with enhanced color logic, momentum sensitivity, and integration-readiness with multi-wave systems. Whether you’re scalping intraday volatility or riding longer-term swings, this tool gives you the pulse of the move — before the price fully commits. ⸻ 2. Core Concept and Calculation Wave A focuses on momentum as deviation from equilibrium, using a linear regression of the smoothed price difference between: • The current close • And the average of the Bollinger Band basis and a mid-range average of highs and lows The result is a histogram that expands and contracts based on how far and how fast price is moving away from its mean. This makes it ideal for identifying when markets are building pressure (compression), releasing energy (expansion), or losing steam (divergence). ⸻ 3. Visual Output and Color Logic The Wave A histogram dynamically changes color based on the direction and acceleration of momentum: • Bright Cyan: Bullish momentum increasing • Dark Blue: Bullish momentum weakening • Bright Red: Bearish momentum increasing • Dark Red: Bearish momentum weakening This 4-color system helps traders instantly identify not just the direction of momentum, but the quality of that move: • Increasing color brightness = momentum is building • Dimming colors = momentum is fading This is especially useful in squeeze trades — a rising Wave A during a green dot (squeeze fire) confirms breakout direction. Conversely, a fading Wave A may suggest to delay entry or prepare to exit. ⸻ 4. Ideal Use Case Wave A is most effective when used in conjunction with a TTM Squeeze dot indicator (such as your Squeeze Pro) and optional Wave B/C overlays. The typical workflow: 1. Watch for Compression: Red, orange, or blue squeeze dots from the main chart indicator. 2. Confirm with Wave A: Enter long if Wave A flips cyan and is rising, or short if it flips bright red and is increasing. 3. Monitor the Bars: Fading bars may signal divergence, exhaustion, or false breakouts. 4. Exit Gracefully: When the histogram flips against your position and starts rising in the opposite color, it’s often a signal to consider tightening stops or taking profit. ⸻ 5. Configuration and Customization Wave A is intentionally minimal in external configuration, focusing instead on clean visuals and fast response. However, key parameters typically include: • Length of the linear regression (commonly set to match the Squeeze window) • Price smoothing options (if enabled) • Bar coloring toggle (to adapt for personal theme preferences or integration into multi-wave dashboards) This keeps Wave A lightweight and compatible with a wide range of strategies, while remaining highly informative in real-time. ⸻ 6. Alerts and Add-ons While Wave A itself is primarily visual, it can be enhanced with optional alert logic: • Histogram flip from negative to positive (bullish) • Histogram flip from positive to negative (bearish) • Momentum peak or divergence alert (custom-coded for advanced users) Traders often link this with a squeeze-fire signal or Wave B trend alignment to trigger more sophisticated alerts or automation workflows. ⸻ 7. Disclaimer This indicator is for educational and informational purposes only. It is not financial advice. Trading based on this tool involves risk, and all decisions should be made in context of broader technical and fundamental analysis, appropriate risk management, and your own trading strategy. ⸻
Indicatore Pine Script®
di The_Kyber_Cell
IU Market Rhythm WaveDESCRIPTION: The IU Market Rhythm Wave is a multi-dimensional indicator designed to reveal the underlying rhythm and energy of the market. By analyzing price momentum, harmonic oscillations, volume behavior, and market breadth, it helps traders identify high-quality long and short wave signals. It also visualizes rhythm bands, wave strength zones, and harmonic levels to provide comprehensive context for decision-making. This tool is best used on trending instruments where rhythm cycles and volume patterns create clear wave-based opportunities. USER INPUTS: Rhythm Cycle Length Controls the main lookback period used to calculate price waves, harmonic oscillation, volume rhythm, and breath. A longer cycle smooths signals, while a shorter cycle makes them more responsive. Recommended range: 8 to 35. Wave Signal Strength Multiplies the standard deviation of rhythm to define dynamic breakout thresholds. A higher value results in fewer but stronger signals, filtering out minor fluctuations. Harmonic Filter Applies a sensitivity filter to the harmonic mean and standard deviation. It helps eliminate weak or noisy signals and ensures rhythm-based signals align with harmonic structure. Show Wave Energy Zones Toggles background color shading based on current rhythm conditions. Greenish zones indicate strong upward rhythm, red for strong downward rhythm, yellow for positive bias, and gray for weak or neutral zones. Show Rhythm Bands Enables the display of upper and lower rhythm bands derived from ATR and rhythm volatility. These bands act as dynamic price envelopes and potential support/resistance zones. Wave Zone Opacity Adjusts the transparency of background energy zones, allowing users to control how prominent these zones appear on the chart. Range: 60 to 90 for optimal visibility. INDICATOR LOGIC: The indicator combines multiple rhythmic components into a composite rhythm score: 1. Price Wave – Based on momentum (rate of price change) smoothed by a moving average. 2. Harmonic Oscillation – Measures how far price has deviated from a central harmonic average (HLC3). 3. Volume Rhythm – Uses volume’s deviation from its mean, standardized by its volatility. 4. Market Breath – Captures range expansion and closing strength relative to range. These elements form the Raw Rhythm, which is further smoothed to produce the Market Rhythm. When the rhythm exceeds statistically calculated thresholds and other conditions like volume confirmation and harmonic proximity are met, wave signals are triggered. Harmonic Fibonacci levels (0.236, 0.382, 0.618, 0.764) are also calculated every rhythm cycle to identify nearby structural price zones. Signals occurring near these levels are considered more reliable. The Rhythm Bands use ATR and rhythm strength to define dynamic boundaries above and below price. Visual zones and arrows mark rhythm shifts and highlight the underlying energy of the market. WHY IT IS UNIQUE: This indicator goes beyond traditional oscillators or volume indicators by blending multiple market dimensions into one rhythmic framework. It adapts to volatility, applies harmonic structure awareness, and filters signals based on real-time market conditions. It offers: * A unique rhythm-based view of price, volume, and volatility * Dynamic, adaptive signal generation and zone coloring * Visual analytics and contextual data in a summary table * Signal filtering using harmonic alignment and market breath Its real-time responsiveness and multi-layered logic make it suitable for intraday, swing, and positional traders. HOW USER CAN BENEFIT FROM IT: * Spot high-conviction long or short entries when rhythm, volume, and structure align * Avoid low-quality trades during weak or noisy rhythm periods * Use visual wave zones to gauge trend strength and rhythm direction * Monitor harmonic proximity to enter or exit near key structural levels * Apply rhythm bands for dynamic stop-loss and target setting * Use rhythm direction arrows and analytics table to gain deeper market insight DISCLAIMER: This indicator is created for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any asset. All trading involves risk, and users should conduct their own analysis or consult with a qualified financial advisor before making any trading decisions. The creator is not responsible for any losses incurred through the use of this tool. Use at your own discretion.
Indicatore Pine Script®
di Shivam_Mandrai
[blackcat] L1 Small Wave Operation L1 Small Wave Operation Overview Are you looking to catch those elusive small waves in the market? Look no further than " L1 Small Wave Operation." This script offers a unique way to identify potential buying opportunities by analyzing price movements, volume changes, and trend directions. With customizable inputs and clear visual indicators, it’s designed to help traders spot favorable entry points with precision. Features Dynamic Signal Identification: Automatically detects two types of buy signals labeled "S" and "B." Adaptable Parameters: Allows users to adjust low period, high period, EMA periods, SMA period, and various threshold values to fine-tune the strategy. Visual Clarity: Plots K and D lines along with four distinct threshold levels for easy visualization. Condition-Based Signals: Uses multiple conditions including volume increases, price actions, and crossover events to confirm signals. How It Works Calculate Percent Range: Determines where the current closing price lies within the recent low and high range. Compute Moving Averages: Calculates Exponential Moving Average (EMA) and Simple Moving Average (SMA) of the percent range. Define Conditions: Checks for bullish or strong bullish patterns, uptrends, and specific crossover events between K and D lines. Generate Signals: Marks potential buying opportunities when predetermined conditions are met. How To Use Add this script to your TradingView chart. Adjust the input parameters according to your preferred settings. Monitor the plotted lines and look for "S" and "B" labels indicating buy signals. Consider incorporating these signals into a broader trading strategy that includes risk management techniques. What Makes It Special Flexibility: Users can easily modify parameters to adapt the script to different markets or personal preferences. Automation: Saves time by automatically scanning for trade setups based on predefined rules. Comprehensive Analysis: Combines multiple factors like volume, price action, and moving averages to provide reliable signals. Limitations Past performance does not guarantee future results. Market conditions can vary, affecting signal reliability. Not suitable for very short-term trades without additional refinements. Notes Always perform backtesting on historical data before implementing live trades. Understand the underlying logic of the script to avoid misinterpretation of signals. Regularly review and adjust parameters based on changing market dynamics.
Indicatore Pine Script®
di blackcat1402
1
RSI Wave Function Ultimate OscillatorEnglish Explanation of the "RSI Wave Function Ultimate Oscillator" Pine Script Code Understanding the Code Purpose: This Pine Script code creates a custom indicator that combines the Relative Strength Index (RSI) with a wave function to potentially provide more nuanced insights into market dynamics. Key Components: * Wave Function: This is a custom calculation that introduces a sinusoidal wave component to the price data. The frequency parameter controls the speed of the oscillation, and the decay factor determines how quickly the influence of past prices diminishes. * Smoothed Signal: The wave function is applied to the closing price to create a smoothed signal, which is essentially a price series modulated by a sine wave. * RSI: The traditional RSI is then calculated on this smoothed signal, providing a measure of the speed and change of price movements relative to recent price changes. Calculation Steps: * Wave Function Calculation: * A sinusoidal wave is generated based on the bar index and the frequency parameter. * The wave is combined with the closing price using a weighted average, where the decay factor determines the weight given to previous values. * RSI Calculation: * The RSI is calculated on the smoothed signal using a standard RSI formula. * Plotting: * The RSI values are plotted on a chart, along with horizontal lines at 70 and 30 to indicate overbought and oversold conditions. * The area between the RSI line and the overbought/oversold lines is filled with color to visually represent the market condition. Interpretation and Usage * Wave Function: The wave function introduces cyclical patterns into the price data, which can help identify potential turning points or momentum shifts. * RSI: The RSI provides a measure of the speed and change of price movements relative to recent price changes. When applied to the smoothed signal, it can help identify overbought and oversold conditions, as well as potential divergences between price and momentum. * Combined Indicator: The combination of the wave function and RSI aims to provide a more sensitive and potentially earlier indication of market reversals. * Signals: * Crossovers: Crossovers of the RSI line above or below the overbought/oversold lines can be used to generate buy or sell signals. * Divergences: Divergences between the price and the RSI can indicate a weakening trend. * Oscillations: The amplitude and frequency of the oscillations in the RSI can provide insights into the strength and duration of market trends. How it Reflects Market Volatility * Amplified Volatility: The wave function can amplify the volatility of the price data, making it easier to identify potential turning points. * Smoothing: The decay factor helps to smooth out short-term fluctuations, allowing the indicator to focus on longer-term trends. * Sensitivity: The combination of the wave function and RSI can make the indicator more sensitive to changes in market momentum. In essence, this custom indicator attempts to enhance traditional RSI analysis by incorporating a cyclical component that can potentially provide earlier signals of market reversals. Note: The effectiveness of this indicator will depend on various factors, including the specific market, time frame, and the chosen values for the frequency and decay parameters. It is recommended to conduct thorough backtesting and optimize the parameters to suit your specific trading strategy.
Indicatore Pine Script®
di da_ji_ba