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Market Structures + ZigZag [TradingFinder] CHoCH/BOS - MSS/MSB🟣 Introduction 🔵 Market Structure Grasping market structure entails examining market behavior. Essentially, market structure refers to the formation and progression of the market within its trends. Market structures are generally fractal and nested, leading us to classify them into internal (minor) and external (major) structures. There are several definitions of market structure, with differing perspectives such as Smart Money and ICT offering their own interpretations. 🔵 Zig Zag The Zigzag indicator is a lagging tool that identifies points on a price chart where significant changes occur compared to the previous wave. By connecting these points, it helps traders detect trends. This indicator minimizes random price fluctuations, aiming to clarify the primary price trend. Pivots are points on a price chart where the direction changes. Also known as reversal points, pivots form when supply and demand forces overpower one another. There are various types of technical analysis pivots, which can be divided into two categories: minor pivots and major pivots, each with distinct significance in analysis. Major Pivot : These pivots signify substantial changes in the chart's direction and occur at the end of trends. Analysts focusing on primary analysis prioritize major pivot points. In fact, most technical analysis tools are evaluated and based on major pivots. Minor Pivot : These pivots highlight smaller, subsidiary points and directions, appearing at the end of corrections. Analysts who focus on minor pivots represent small trends. It's important to note that minor pivots are not suitable for use in primary technical tools. Identifying Minor and Major Pivots : Minor pivots are formed between two major pivots and do not break the opposing major pivot. (Internal Pivot) Major pivots are those that either successfully break the opposing pivot or move beyond the previous pivot of the same type. (External Pivot) 🟣 How to Use 🔵 Identifying Break of Structure (BOS) In a given trend, such as a downtrend, a Break of Structure occurs when the price drops below the previous low and forms a new low (LL). In an uptrend, a BOS (MSB) happens when the price rises and exceeds the last high. To confirm a trend, at least one BOS is required. The break above or below the previous high or low must be validated by the closing of at least one candle beyond that level. 🔵 Identifying Change of Character (CHOCH) Change of Character (CHOCH) is an essential concept in market structure analysis, indicating a trend change. In other words, a trend concludes with a CHOCH (MSS). For example, in a downtrend, the price declines with BOS. While BOS highlights the trend's strength, a CHOCH occurs when the price rises and surpasses the last high, signaling a transition from a downtrend to an uptrend. This does not imply immediately entering a buy trade; instead, it is prudent to wait for a BOS in the upward direction to confirm the uptrend. Unlike BOS, confirming a CHOCH does not require a candle to close; simply breaking above or below the previous high or low with the candle's wick is sufficient. The following examples illustrate bearish and bullish CHOCH. Terms : Market Structure Shift = MSS Market Structure Break = MSB 🔵 Zig Zag Based on identifying pivots and drawing zigzag lines, you can have different uses of this indicator. Including : Identifying pivot types along with major and minor recognition. Identifying internal and external breakouts. Identifying support and resistance levels. Identifying Elliott Waves. Identifying classic patterns. Identifying pivots with higher validity. Identifying trends and range areas. 🟣 Settings Pivot Period Market Structure and ZigZag Line: Using this input, you can determine the pivot period for identifying swings. Through the settings, you can customize the display, visibility, and color of each line as desired.
Indicatore Pine Script®
di TFlab
26
WaveTrendnel Oscillator [UAlgo]🔶Description: The WaveTrendnel Oscillator, is a technical analysis tool designed for traders to identify potential trend reversals and overbought/oversold conditions in the market. It combines the concepts of wave analysis and trend analysis to generate signals based on the current market conditions. This indicator aims to provide traders with insights into the strength and direction of the prevailing trend, facilitating better decision-making in trading strategies. 🔶Key Features: Customizable Parameters: Users can customize various parameters including the source data, channel length, average length, and signal length according to their trading preferences and market conditions. Signal Display: The indicator offers the option to display buy and sell signals on the chart, helping traders to visually identify potential entry and exit points. Wave and Kernel Analysis: The WaveTrendnel Oscillator utilizes a rational quadratic kernel function, which applies a mathematical approach known as the kernel method. This method analyzes historical price data by assigning weights to each data point based on its proximity to the current period, providing a smoother and more accurate representation of market trends. Overbought/Oversold Levels: Traders can define overbought and oversold levels using customizable threshold parameters, enabling them to identify potential reversal points in the market. 🔶Credit: The WaveTrendnel Oscillator indicator is a modification of the original WaveTrend Oscillator developed by @LazyBear on TradingView. 🔶Disclaimer: Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals. Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator. Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies. Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses. No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Indicatore Pine Script®
di UAlgo
1
+ WaveTrend Oscillator OverlayAn overlay version of pertinent signals from my version of LazyBear's Wavetrend Oscillator. Shows momentum of long period WTO as either background colors or symbols. Shows continuation and reversal trade signals. If Secondary WTO is above the center line (momentum is long), then symbols print across the top of the chart when the primary (faster) WTO comes into "oversold," a number associated with a horizontal line on the off-chart indicator. This number is selectable via a drop-down menu. Same thing for bearish momentum. Conversely, reversal signals are printed along the bottom when conditions are met. Ex: if the Secondary WTO is showing momentum is bullish, then symbols will print along the bottom when the primary WTO is at "overbought" (or whatever number you deem overbought--again, via a similar drop-down menu). Also, symbols are printed above and below candles for when the moving average of the primary WTO is crossed. You could use these for taking profits, exiting a trade, or entering a trade. Includes a moving average that is an average of the 200 EMA, SMA and Kijun. Alerts. Enjoy. //p.s. I recommend using this in conjunction with my "+ Wavetrend Oscillator" at least starting out. Helps to have a visual //reference when picking reversal and continuation numbers.
Indicatore Pine Script®
di ClassicScott
4
+ WaveTrend OscillatorI'm guessing most of you are familir with LazyBear's adaptation of the Wavetrend Oscillator; it's one of the most popular indicators on TradingView. I know others have done adaptations of it, but I thought I might as well, because that's kind of a thing I like doing. In this version I've added a second Wavetrend plot. This is a thing I like to do. The longer plot gives you a longer timeframe momentum bias, and the shorter plot gives you entries and/or exits. Here we have one plot with a lookback period of 55, and another with the default set to 6 (change this to 14 if you think you might prefer something slower and that will plot similarly to the default RSI settings). With the traditional Wavetrend Oscillator there is a simple moving average on the WTO that is to help provide entries and exits. I've done away with this as there are already two plots, and I felt more would just clutter the indicator. Instead of plotting the SMA I've plotted the crosses along the bottom and top of the indicator. Also, as is not the case in LazyBear's version, this SMA length is adjustable. By default it is set to 3, which is the default setting on the original indicator. I've also plotted background colors for when there is what I call a momentum shift. If one or the other oscillators crosses the centerline a colored bar is plotted. By default it is turned on for both WTOs, though in practice you might only want it on for the longer one. I would say use of the indicator is similar to the original WTO or many other oscillators. Buying oversold and selling overbought, but being mindful of the momentum of the market. If the longer WTO is above the centerline it's best to be looking for dips to the centerline, or for an overbought signal by the faster WTO, and vice versa if the longer WTO is below the centerline. That said, you can also adjust the length of the SMA on the faster WTO to fine tune entries or exits, which is kind of how you would trade LazyBear's version. In this case you have that additional confirmation of market momentum. You can set colored candles to either of the WTO plots via a dropdown menu. There are alerts for overbought and oversold situations, centerline crosses, and Wavetrend crosses. That's about it. Hope you enjoy this particular implementation of LazyBear's well known indicator. Ah yes, last thing: Original version the source is set to hlc3. I've given you the opportunity to change that, so if you prefer using close you can, or whatever you want.
Indicatore Pine Script®
di ClassicScott
22
Wavetrend strategy with trading session for any time chartHello there Today I am glad to provide you a strategy based on the wave trend oscillator. If you want to use it as an indicator, just disable long and short to not make any shops. It works on all time frames. The way it works its like an RSI . We have overbought and oversold levels, and together with a channel and length we calculate the wave trend. And then like in RSI, when we cross those lines we buy or sell depending on which lines we cross. For risk management, so far its not implemented, but it can be done in many ways. The only thing I applied is to always close a trade at the end of friday day. At the same time it can be applied the rule to sell when % of equity is lost, or at the end of a trading session like london,neywork and so on. For any questions or doubts, let me know. Hope you enjoy it :)
Strategia Pine Script®
di SoftKill21
1
Stochastic Heat MapA series of 28 stochastic oscillators plotted horizontally and stacked vertically from bottom to top as the oscillator background. Each oscillator has been interpreted and the value has been used to colour the lines in. Lower lines are shorter term stochastics and higher lines are longer term stochastics. The average of the 28 stochastics has been taken and then used to plot the fast oscillator line, which also has a slow oscillator line to follow. The oscillator line can be used to colour in the candles. Inputs: MA: multiple smoothing methods Theme: multiple colours Increment: stochastic length start and increments Smooth Fast: smooth fast length Smooth Slow: smooth slow length Paint Bars: colour candles Waves: toggle method to weight/increment stochastics Heat map shows momentum extremes:
Indicatore Pine Script®
di Violent
90
Pair Strength BasketAgain thanks to LazyBear for bringing over the wavetrend indicator and glaz for the idea of the basket of currencies. This is a power index based on the wavetrend indicator, I cut it down to 5 securities per currency since the limit of securities I could call was 40. I like to use to see which pair is the most OB/OS as it likely presents the best profit potential. AUD = Yellow CAD = Gray CHF = Maroon EUR = Blue GBP = Red JPY = Purple NZD = Lime USD = Green
Indicatore Pine Script®
di wpatte15
Wave Smoother [WS]The Wave Smoother is a unique FIR filter built from the interaction of two trigonometric waves. A cosine carrier wave is modulated by a sine wave at half the carrier's period, creating smooth transitions and controlled undershoot. The Phase parameter (0° to 119°) adjusts the modulating wave's phase, affecting both response time and undershoot characteristics. At 30° phase the impulse response starts at 0.5 and exhibits gentle undershoot, providing balanced smoothing. Higher phase values reduce ramp-up time and increase undershoot - this undershoot in the impulse response creates overshooting behavior in the filter's output, which helps reduce lag and speed up the response. The default 70° phase setting provides maximum speed while maintaining stability, though practical settings can range from 30° to 70°. The filter's impulse response consists entirely of smooth curves, ensuring consistent behavior across all settings. This design offers traders flexible control over the smoothing-speed trade-off while maintaining reliable signal generation.
Indicatore Pine Script®
di The_Peaceful_Lizard
2
Wave Generator Library (WGL)Library "WaveGenerator" Wave Generator Library max(source)   max   Parameters:      source : is the input to take the maximum.   Returns: foat min(source)   min   Parameters:      source : is the input to take the minimum.   Returns: foat min_max(src, height)   min_max   Parameters:      src : is the input for the min/max      height   Returns: float sine_wave(_wave_height, _wave_duration, _phase_shift, _phase_shift_2)   sine_wave   Parameters:      _wave_height : Maximum output level      _wave_duration : Wave length      _phase_shift : Number of harmonics      _phase_shift_2   Returns: float triangle_wave(_wave_height, _wave_duration, _num_harmonics, _phase_shift)   triangle_wave   Parameters:      _wave_height : Maximum output level      _wave_duration : Wave length      _num_harmonics : Number of harmonics      _phase_shift : Phase shift   Returns: float saw_wave(_wave_height, _wave_duration, _num_harmonics, _phase_shift)   saw_wave   Parameters:      _wave_height : Maximum output level      _wave_duration : Wave length      _num_harmonics : Number of harmonics      _phase_shift : Phase shift   Returns: float ramp_saw_wave(_wave_height, _wave_duration, _num_harmonics, _phase_shift)   ramp_saw_wave   Parameters:      _wave_height : Maximum output level      _wave_duration : Wave length      _num_harmonics : Number of harmonics      _phase_shift : Phase shift   Returns: float square_wave(_wave_height, _wave_duration, _num_harmonics, _phase_shift)   square_wave   Parameters:      _wave_height : Maximum output level      _wave_duration : Wave length      _num_harmonics : Number of harmonics      _phase_shift : Phase shift   Returns: float wave_select(style, _wave_height, _wave_duration, _num_harmonics, _phase_shift)   wave_select @peram style Select the style of wave. "Sine", "Triangle", "Saw", "Ramp Saw", "Square"   Parameters:      style      _wave_height : Maximum output level      _wave_duration : Wave length      _num_harmonics : Number of harmonics      _phase_shift : Phase shift   Returns: float
Libreria Pine Script®
di The_Peaceful_Lizard
Wave Generator (WG)Pine Script Wave Generator Utility Introduction: The Pine Script Wave Generator Utility is a versatile tool that creates different wave patterns. The script provides the user with four different wave styles to choose from (Sine, Triangle, Saw, Square) with customizable parameters for the wave height, duration, number of harmonics, and phase shift. Technical Details: The script utilizes the mathematical functions sin, pi, and array.avg to generate wave patterns. The wave height and duration are the main inputs, and the number of harmonics and phase shift are additional inputs that add fine-tuning to the wave pattern. The wave styles are created using different combinations of sine waves and are normalized so that the resulting wave always lies within a range of -1 to 1. Usage: The user can adjust the wave parameters using the input options in the script. The user can choose the wave style from the “Wave Select” option and set the wave height, wave duration, number of harmonics and phase shift by adjusting the corresponding input options. Conclusion: The Pine Script Wave Generator Utility is an efficient and effective tool for generating wave patterns. It can be used for a variety of purposes such as creating wave patterns for technical analysis, simulation, and testing purposes. The user can easily adjust the wave parameters to create custom wave patterns, making it a flexible and valuable tool.
Indicatore Pine Script®
di The_Peaceful_Lizard
6
Pair Strength EURUSDThis is an application of the WaveTrend indicator by LazyBear against a basket of the eur and usd to come up with a total eur and usd wt value. You can change the currencies by altering which pairs its run on. As far as changes I removed the lagging 4sma and altered the OB OS to be 2 and 3 standard deviations from a 1000sma just to get a stable view as to where the values tend to rise to. I've had some success using it over the past week or so, when dollar is OB an euro is OS you can expect EURUSD to go up as those reverse and vice versa.
Indicatore Pine Script®
di wpatte15
1