Custom SMA Plot It creates a custom indicator named "Custom SMA Plot (CSP)" that overlays on a price chart. The indicator fetches the closing prices and calculates a 14-period simple moving average (SMA) of these prices. This SMA is then visually represented as a blue line, which starts from the SMA value of the bar 100 candles ago and extends to the current bar's SMA value. The line has a thickness of 1 unit.
When price breaks over wave go long.
When price breaks below wave go short.
Cerca negli script per "wave"
Bearish Alternate Flag Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws bearish alternate flag 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.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
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.
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.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Bullish and Bearish Alternate Flag Patterns
• Bullish alternate flags are composed of one peak and two troughs. The second trough being higher than the first.
• Bearish alternate flags are composed of one trough and two peaks. The second peak being lower than the first.
In this script I have used minimum and maximum retracement and extension ratios to set parameters for pattern identification:
• Wave 1 of the pattern, referred to as AB, is set to a minimum ratio of 100%.
• Wave 2 of the pattern, referred to as BC, is set to a maximum ratio of 30%.
█ FEATURES
Inputs
• Unbroken Troughs
• AB Minimum Ratio
• BC Maximum Ratio
• Pole Color
• Flag Color
• Extend Current Flag Lines
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ 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.
Bullish Alternate Flag Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws bullish alternate flag 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.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
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.
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.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Bullish and Bearish Alternate Flag Patterns
• Bullish alternate flags are composed of one peak and two troughs. The second trough being higher than the first.
• Bearish alternate flags are composed of one trough and two peaks. The second peak being lower than the first.
In this script I have used minimum and maximum retracement and extension ratios to set parameters for pattern identification:
• Wave 1 of the pattern, referred to as AB, is set to a minimum ratio of 100%.
• Wave 2 of the pattern, referred to as BC, is set to a maximum ratio of 30%.
█ FEATURES
Inputs
• Unbroken Peaks
• AB Minimum Ratio
• BC Maximum Ratio
• Pole Color
• Flag Color
• Extend Current Flag Lines
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ 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.
Bearish Pennant Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws bearish pennant 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.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
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.
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.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Bullish and Bearish Pennant Patterns
• Bullish pennants are generally composed of three troughs and two peaks. The first peak being higher than the second peak and the first trough being lower than both the second and third troughs, with the third trough being higher than the second trough.
• Bearish pennants are generally composed of three peaks and two troughs. The first trough being lower than the second trough and the first peak being higher than both the second and third peaks, with third peak being lower than the second peak.
In this script I have used minimum and maximum retracement and extension ratios to set parameters for pattern identification:
• Wave 1 of the pattern, referred to as AB, is set to a minimum ratio of 100%.
• Wave 2 of the pattern, referred to as BC, is set to a maximum ratio of 30%.
• Wave 3 of the pattern, referred to as CD, has no ratio measurements but will always be below 100% by default.
• Wave 4 of the pattern, referred to as DE, has no ratio measurements but will always be below 100% by default.
█ FEATURES
Inputs
• Unbroken Troughs
• AB Minimum Ratio
• BC Maximum Ratio
• Pole Color
• Flag Color
• Extend Current Flag Lines
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ 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.
Bullish Pennant Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws bullish pennant 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.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
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.
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.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Bullish and Bearish Pennant Patterns
• Bullish pennants are generally composed of three troughs and two peaks. The first peak being higher than the second peak and the first trough being lower than both the second and third troughs, with the third trough being higher than the second trough.
• Bearish pennants are generally composed of three peaks and two troughs. The first trough being lower than the second trough and the first peak being higher than both the second and third peaks, with third peak being lower than the second peak.
In this script I have used minimum and maximum retracement and extension ratios to set parameters for pattern identification:
• Wave 1 of the pattern, referred to as AB, is set to a minimum ratio of 100%.
• Wave 2 of the pattern, referred to as BC, is set to a maximum ratio of 30%.
• Wave 3 of the pattern, referred to as CD, has no ratio measurements but will always be below 100% by default.
• Wave 4 of the pattern, referred to as DE, has no ratio measurements but will always be below 100% by default.
█ FEATURES
Inputs
• Unbroken Peaks
• AB Minimum Ratio
• BC Maximum Ratio
• Pole Color
• Flag Color
• Extend Current Flag Lines
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ 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
Bearish Flag Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws bearish flag 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.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
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.
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.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Bullish and Bearish Flag Patterns
• Bullish flags are generally composed of three troughs and two peaks. The first peak being higher than the second peak and the second trough being higher than the first trough. The third trough must be lower than the second trough but higher than the first.
• Bearish flags are generally composed of three peaks and two troughs. The first trough being lower than the second trough and the second peak being lower than the first peak. The third peak must be higher than the second peak but lower than the first.
In this script I have used minimum and maximum retracement and extension ratios to set parameters for pattern identification:
• Wave 1 of the pattern, referred to as AB, is set to a minimum ratio of 100%.
• Wave 2 of the pattern, referred to as BC, is set to a maximum ratio of 30%.
• Wave 3 of the pattern, referred to as CD, has no ratio measurements but will always be below 100% by default.
• Wave 4 of the pattern, referred to as DE, has no ratio measurements but will always be above 100% by default.
• The last measure, referred to as BE, is that of the range set between points B and E as a ratio of the range set by wave 1, which is set to a maximum ratio of 40%.
█ FEATURES
Inputs
• Unbroken Troughs
• AB Minimum Ratio
• BC Maximum Ratio
• BE Maximum Ratio
• Pole Color
• Flag Color
• Extend Current Flag Lines
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ 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.
Bullish Flag Patterns [theEccentricTrader]█ OVERVIEW
This indicator automatically draws bullish flag 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.
Broken and Unbroken Peaks and Troughs
Upon the completion of a new swing low the high of the green candle that completes the swing low will be above, below or equal to the current peak price. And similarly, upon the completion of a new swing high the low of the red candle that completes the swing high will be above, below or equal to the current trough price.
If the high price of the green candle that completes the current swing low is higher than or equal to the current peak price then the current peak is broken. If the high of the green candle that completes the current swing low is below the current peak price, then the current peak is unbroken.
Similarly, if the low price of the red candle that completes the current swing high is lower than or equal to the current trough price then the current trough is broken. If the low price of the red candle that completes the current swing high is above the current trough price, then the current trough is unbroken.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
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.
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.
Retracement and Extension Ratios
Retracement and extension ratios are calculated by dividing the current range by the preceding range and multiplying the answer by 100. Retracement ratios are those that are equal to or below 100% of the preceding range and extension ratios are those that are above 100% of the preceding range.
Bullish and Bearish Flag Patterns
• Bullish flags are generally composed of three troughs and two peaks. The first peak being higher than the second peak and the second trough being higher than the first trough. The third trough must be lower than the second trough but higher than the first.
• Bearish flags are generally composed of three peaks and two troughs. The first trough being lower than the second trough and the second peak being lower than the first peak. The third peak must be higher than the second peak but lower than the first.
In this script I have used minimum and maximum retracement and extension ratios to set parameters for pattern identification:
• Wave 1 of the pattern, referred to as AB, is set to a minimum ratio of 100%.
• Wave 2 of the pattern, referred to as BC, is set to a maximum ratio of 30%.
• Wave 3 of the pattern, referred to as CD, has no ratio measurements but will always be below 100% by default.
• Wave 4 of the pattern, referred to as DE, has no ratio measurements but will always be above 100% by default.
• The last measure, referred to as BE, is that of the range set between points B and E as a ratio of the range set by wave 1, which is set to a maximum ratio of 40%.
█ FEATURES
Inputs
• Unbroken Peaks
• AB Minimum Ratio
• BC Maximum Ratio
• BE Maximum Ratio
• Pole Color
• Flag Color
• Extend Current Flag Lines
• Show Labels
• Label Color
• Show Projection Lines
• Extend Current Projection Lines
Alerts
Users can set alerts for when the patterns occur.
█ 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.
Fibonacci Ratios HTF [theEccentricTrader]█ OVERVIEW
This indicator automatically draws higher timeframe Fibonacci levels from current peak to current trough or current trough to current peak, depending on where the current wave cycle ends. In the example above I have set the higher timeframe resolution to 1-month and applied it to a daily chart.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low 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.
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.
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.
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.
Although there is some contention over which popular levels are and are not actually Fibonacci ratios, such as 50% and 100%, in this script I have based my retracement level calculations on the ratios of 23.6%, 38.2%, 50%, 61.8%, 78.6% and 100%. And my extension level calculations on the ratios of 161.8%, 261.8%, 361.8%, 423.6% and 461.8%.
█ FEATURES
Inputs
• HTF Resolution
• Show Fibonacci Extensions
• 00.0% Line Color
• 23.6% Line Color
• 38.2% Line Color
• 50.0% Line Color
• 61.8% Line Color
• 78.6% Line Color
• 100.0% Line Color
• 161.8% Line Color
• 261.8% Line Color
• 361.8% Line Color
• 423.6% Line Color
• 461.8% Line Color
• Extend Line Type
• Show Labels
• Label Colors
█ 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.
Similarly, if the current timeframe is not a factor of the higher timeframe there will be occasions when the left hand offset is out by a couple of bars. This is because the calculations are ultimately based on how many lower timeframe bars there are inside a sequence of higher timeframe bars. The indicator will also behave unexpectedly if the higher timeframe resolution is lower than the current timeframe, but that should be expected.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
Fibonacci Ratios [theEccentricTrader]█ OVERVIEW
This indicator automatically draws Fibonacci levels from current peak to current trough or current trough to current peak, depending on where the current wave cycle ends.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low 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.
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.
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.
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.
Although there is some contention over which popular levels are and are not actually Fibonacci ratios, such as 50% and 100%, in this script I have based my retracement level calculations on the ratios of 23.6%, 38.2%, 50%, 61.8%, 78.6% and 100%. And my extension level calculations on the ratios of 161.8%, 261.8%, 361.8%, 423.6% and 461.8%.
█ FEATURES
Inputs
• Show Fibonacci Extensions
• 00.0% Line Color
• 23.6% Line Color
• 38.2% Line Color
• 50.0% Line Color
• 61.8% Line Color
• 78.6% Line Color
• 100.0% Line Color
• 161.8% Line Color
• 261.8% Line Color
• 361.8% Line Color
• 423.6% Line Color
• 461.8% Line Color
• Extend Line Type
• Show Labels
• Label Colors
█ 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.
Mark Structure ShdwMark Structure Show is building the market swing structure, minor and sub structure and marks all possible insignificant pivots
This indicator is the alternative version of Mark Structure indicator, I had to create another indicator in order to avoid programming limitation of TreadingView.
This version uses confirmation approach as confirming by body, it means every swing low/high is confirmed when the body (of newly creating swing low/high correspondingly) takes place and intercepts it. the same behaviour is with breaking structure its confirmed only by body.
From trading prospective with this kind of approach we can easily detect manipulations (caused by sweeps) and disregard those manipulation as elements which are breaking the structure. so its extremely useful for those who are trading smart money price actions and basing on swing structure POI
it supports:
- Marking all pivots with labels or join them continuously with trend lines.
- Marking minor and sub structured swings with labels or join them continuously with trend lines. Marking last actual CHoCH and BOS. Minor and substructure are structures inside swing structure and it can differ from the structure of lower timeframe
- Marking swings of swing structure with labels or join them continuously with trend lines.
- Changing bullish and bearish colors of each kind of structures
- Changing pivot labelings
- Changing colors
Remarks:
- Don't expect to have minor and sub structure in each swing waves, its totally fine when you don't have them at all
- Swing structure is the most significant structure and shows real price direction.
- The last swing is not able to be confirmed it tries to build 2 swings that most likely would be either substructure or SMS BOS
Squeeze Momentum Indicator + 2.0This is a squeeze momentum oscillator with ADX-RSI, Elliot waves oscillator, HMA background and more.
I recommend configure ADX-RSI with the following settings:
-ADX Length = 14
-ADX smooth = 14
-RSI Length = 14
-Threshold = 15
-Upline = 70
-Downline = 30
Thanks to OskarGallard for develop this indicator.
I am Sc4lp1ng, the developer of EMA MTF cloud and TSI-ADX Histogram.
RAS.V2 Strength Index OscillatorHeavily modified version of my previous "Relative Aggregate Strength Oscillator" -Added high/low lines, alma curves,, lrc bands, changed candle calculations + other small things. Replaces the standard RSI indicator with something a bit more insightful.
Credits to @wolneyyy - 'Mean Deviation Detector - Throw Out All Other Indicators ' And @algomojo - 'Responsive Coppock Curve'
And the default Relative Strength Index
The candles are the average of the MFI ,CCI ,MOM and RSI candles, they seemed similar enough in style to me so I created candles out of each and the took the sum of all the candle's OHLC values and divided by 4 to get an average, same as v1 but with some tweaks. Previous Peaks and Potholes visible with the blue horizontal lines which adjust when a new boundary is established. Toggle alma waves or smalrc curves or both to your liking. This indicator is great for calling out peaks and troughs in realtime, although is best when combined with other trusted indicators to get a consensus.
SARWThis indicator aims to indicate the correlation between two assets(Current and Base), it does NOT show entries or help your chart analysis directly.
The main features of this Correlation indicator is :
Correlation type : Direct Correlation | Inverse Correlation | No Correlation
Correlation Percentage : as its name, it calculate the Correlation Percentage between Current and base assets if exist
How to use: Chose the base asset (default: bitcoin) and open any other chart to be the other -Current- asset
inputs:
Max Lookback length : how many candles will be included in the scan.
Swing intensity : How many candle should be counted to confirm a Swing, If you are confused leave it as its default.
Base Asset : The base asset to calculate the current asset correlation with.
Important Notes:
As I promised, the previous correlation indicator used each candle alone, while this one uses waves and swings.
The Current asset has more power over the base, because it compares the Base to current, but not the opposite((E.g. if you want to check if some coin have correlation with bitcoin, it's better to use bitcoin and put the other coin name in the input field)).
For any notes on the indicator to be edited, or for another indicator ideas please comment.
Moving Average WavesThis indicator displays up to 20 fully editable moving averages.
Go to MA Waves settings and play around to get your favorite visual display, there are plenty of combinations to chose from.
Depending on time frame and tuning, it can be used as a trend/momentum & volatility indicator or to identify supports/resistances.
Longer moving averages represent a stronger "area of value" and the price loves it.
I made this one mostly because it looked cool, if you get ideas to make better use of it let me know.
Hope you enjoy!
Auto Hosoda Waves by TheSocialCryptoClubName: Auto Hosoda Waves
Category: Indicator
Timeframe: Any Timeframe.
Description: Auto Hosoda Waves uses Zig-Zag to calculate bullish and bearish impulses.It then considers the last Zig-Zag movements to calculate the ABC pattern
Suggested usage: Use on any timeframe. From the configuration of the indicator it is possible to calculate waves also from past ABC patterns, so as to adapt to the trader's intuition.
Technical Details: Internally uses the Zig-Zag indicator for understanding the bounces. From bounces identifies the ABC patterns and uses the Hosoda Waves formulas to print the levels on the screen.
Credits:
- Technique has been explained by Corrado Rondelli in “Ichimoku Kinko Hyo. Operatività sui mercati”
- It is based on the Zig-Zag indicator of TradingView to calculate the Zig-Zag.
- Hosoda Waves calculation from Hosoda Waves by Rexio and modified by PawTar
Auto Fib Time Zones and Trend-Based Fib Time by DGTFibonacci time zones, based on the Fibonacci number sequence, are vertical lines that represent potential areas where a swing high, low, or reversal could occur.
Trend-Based Fib Time shows probable price corrections in an existing trend. A useful tool to use in addition to Elliot Wave counting, Fib Time helps to identify how far the wave is likely to travel
Please note, Time zones aren't concerned with price, only time
Disclaimer :
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
M waves Mk3 'Magical M's v1
V2
V3
So I forgot this existed so here is the Opened sourced code (pm me for older sorce code there are 600+ Saves)(pm me for other scrips course code too lazy to republish everything)
Changes: Simplified and annotated code/upgraded to v4 format
as always adjust before using
i use this indicator combined with the other frequency one to help me identify time and direction of next move.
Pair with rsi
Pair with detrended tsi (have unpublished script might share later)
‘Redraw’ safe
Slightly detrented(adjustable) to avoid traps
quick how to use:
Meant as and adjustable indicator to “tune" to personal risk/reward preference
Green means buy red means sell
arrow indicators for long term sell and buy
Highly customizable (candles too)
Check out my profile for previous versions they are less customizable but also easier to get started with
similar to rsi you want to buy/sell when the indicator turns green/red and lines are as pinched as posible (the lines that are being filled).
keep an eye on the other line that moves around ;) if its not matching the other 2 moving averages and the main color indicator chances are its a trap(works both ways)
use the candles to help you keep your eye on the indicator when scalping (look at the original post for some color ideas)
JSE Wyckoff WaveThe Stock Market Institute (SMI) describes an propriety indicator the "SMI Wyckoff Wave" for US Stocks. This code is an attempt to make a Wyckoff Wave for the Johannesburg Stock Exchange (JSE). Once the wave has been established the volume can also be calculated. Please see code for the JSE Wyckoff Wave Volume which goes with this indicator.
The Wave presents a normalized price for the 10 selected stocks (An Index for the 10 stocks). The theory is to select stocks that are widely held, market leaders, actively traded and participate in important market moves. This is only my attempt to select 10 stocks and a different selection can be made. I am not certain how SMI determine their weightings but what I have done it to equalize the Rand value of the stock so that moves are of equal magnitude. The then provides a view of the overall condition of the market and volume flow in the market.
I have used the September 2018 price to normalize the stock price for the 10 selected stocks based. The stocks and weightings can be changed periodically depending on the performance and leadership.
Most Indecies when constructed assume that all high prices and all low prices happen at the same time and therefor inflate the wicks of the bars. To make the wave more representatives for the SMI Wyckoff Wave the price is determined on the 5 minute timeframe which removes this bias. However, TradingView does not calculate properly when selecting a lower timeframe than in current period. A work around is to call the sma of the highs and add these which provides more realistic tails. Please, let me know if there is a better work around this.
The stocks and their weightings are:
"JSE:BTI"*0.79
"JSE:SHP"*2.87
"JSE:NPN"*0.18
"JSE:AGL"*1.96
"JSE:SOL"*1.0
"JSE:CFR"*4.42
"JSE:MND"*1.40
"JSE:MTN"*7.63
"JSE:SLM"*7.29
"JSE:FSR"*8.25
Multiple Moving Averages (Rainbow Waves)Two moving averages with toggle for Rainbow Wave mode (total of 16 equally spaced moving averages)
EMA Wave and GRaB Candles by JustUncleLThis is a specialised Price Action Channel (PAC) or Wave that mirrors the indicator used by Raghee Horner, the "34EMA Wave and GRaB Candles".
The Wave consist of:
34 period exponential moving average on the high
34 period exponential moving average on the close
34 period exponential moving average on the low
The GRaB candles colour scheme:
Lime = Bull candle closed above Wave
Green = Bear candle closed above Wave
Red = Bull candle closed below Wave
DarkRed = Bear candle closed below Wave
Aqua = Bull candle closed inside Wave
Blue = Bear candle closed inside Wave
Optionally display a trend direction indication along bottom of chart.
References:
For some details on how Raghee uses this indicator check out this:
www.forexfactory.com
Also her various training and webinar videos on Youtube
Note: This code is licensed under open source GPLv3 terms and conditions. Any modifications to it should be made public and linked to the original code.
Elliot Wave OscillatorEWO Indicator, helps to indentify waves
Similar like LazyBear's Indicator: ElliotWave Oscillator
I extended and changed the following:
Allow custom SMA interval default 5 and 35. Dont use EMAs
Choose input source: default close, f.e. use HL2
Show difference of SMAs in percent based on current candle default "true", this is very useful for historical charts
