Market Cipher B by WeloTradesMarket Cipher B by WeloTrades: Detailed Script Description
//Overview//
"Market Cipher B by WeloTrades" is an advanced trading tool that combines multiple technical indicators to provide a comprehensive market analysis framework. By integrating WaveTrend, RSI, and MoneyFlow indicators, this script helps traders to better identify market trends, potential reversals, and trading opportunities. The script is designed to offer a holistic view of the market by combining the strengths of these individual indicators.
//Key Features and Originality//
WaveTrend Analysis:
WaveTrend Channel (WT1 and WT2): The core of this script is the WaveTrend indicator, which uses the smoothed average of typical price to identify overbought and oversold conditions. WT1 and WT2 are calculated to track market momentum and cyclical price movements.
Major Divergences (🐮/🐻): The script detects and highlights major bullish and bearish divergences automatically, providing traders with visual cues for potential reversals. This helps in making informed decisions based on divergence patterns.
Relative Strength Index (RSI):
RSI Levels: RSI is used to measure the speed and change of price movements, with specific levels indicating overbought and oversold conditions.
Customizable Levels: Users can configure the overbought and oversold thresholds, allowing for a tailored analysis based on individual trading strategies.
MoneyFlow Indicator:
Fast and Slow MoneyFlow: This indicator tracks the flow of capital into and out of the market, offering insights into the underlying market strength. It includes configurable periods and multipliers for both fast and slow MoneyFlow.
Vertical Positioning: The script allows users to adjust the vertical position of MoneyFlow plots to maintain a clear and uncluttered chart.
Stochastic RSI:
Stochastic RSI Levels: This combines the RSI and Stochastic indicators to provide a momentum oscillator that is sensitive to price changes. It is used to identify overbought and oversold conditions within a specified period.
Customizable Levels: Traders can set specific levels for more precise analysis.
//How It Works//
The script integrates these indicators through advanced algorithms, creating a synergistic effect that enhances market analysis. Here’s a detailed explanation of the underlying concepts and calculations:
WaveTrend Indicator:
Calculation: WaveTrend is based on the typical price (average of high, low, and close) smoothed over a specified channel length. WT1 and WT2 are derived from this typical price and further smoothed using the Average Channel Length. The difference between WT1 and WT2 indicates momentum, helping to identify cyclical market trends.
RSI (Relative Strength Index):
Calculation: RSI calculates the average gains and losses over a specified period to measure the speed and change of price movements. It oscillates between 0 and 100, with levels set to identify overbought (>70) and oversold (<30) conditions.
MoneyFlow Indicator:
Calculation: MoneyFlow is derived by multiplying price changes by volume and smoothing the results over specified periods. Fast MoneyFlow reacts quickly to price changes, while Slow MoneyFlow offers a broader view of capital movement trends.
Stochastic RSI:
Calculation: Stochastic RSI is computed by applying the Stochastic formula to RSI values, which highlights the RSI’s relative position within its range over a given period. This helps in identifying momentum shifts more precisely.
//How to Use the Script//
Display Settings:
Users can enable or disable various components like WaveTrend OB & OS levels, MoneyFlow plots, and divergence alerts through checkboxes.
Example: Turn on "Show Major Divergence" to see major bullish and bearish divergence signals directly on the chart.
Adjust Channel Settings:
Customize the data source, channel length, and smoothing periods in the "WaveTrend Channel SETTINGS" group.
Example: Set the "Channel Length" to 10 for a more responsive WaveTrend line or adjust the "Average Channel Length" to 21 for smoother trends.
Set Overbought & Oversold Levels:
Configure levels for WaveTrend, RSI, and Stochastic RSI in their respective settings groups.
Example: Set the WaveTrend Overbought Level to 60 and Oversold Level to -60 to define critical thresholds.
Money Flow Settings:
Adjust the periods and multipliers for Fast and Slow MoneyFlow indicators, and set their vertical positions for better visualization.
Example: Set the Fast Money Flow Period to 9 and Slow Money Flow Period to 12 to capture both short-term and long-term capital movements.
//Justification for Combining Indicators//
Enhanced Market Analysis:
Combining WaveTrend, RSI, and MoneyFlow provides a more comprehensive view of market conditions. Each indicator brings a unique perspective, making the analysis more robust.
WaveTrend identifies cyclical trends, RSI measures momentum, and MoneyFlow tracks capital movement. Together, they provide a multi-dimensional analysis of the market.
Improved Decision-Making:
By integrating these indicators, the script helps traders make more informed decisions. For example, a bullish divergence detected by WaveTrend might be validated by an RSI moving out of oversold territory and supported by increasing MoneyFlow.
Customization and Flexibility:
The script offers extensive customization options, allowing traders to tailor it to their specific needs and strategies. This flexibility makes it suitable for different trading styles and timeframes.
//Conclusion//
The indicator stands out due to its innovative combination of WaveTrend, RSI, and MoneyFlow indicators, offering a well-rounded tool for market analysis. By understanding how each component works and how they complement each other, traders can leverage this script to enhance their market analysis and trading strategies, making more informed and confident decisions.
Remember to always backtest the indicator first before implying it to your strategy.
Cerca negli script per "跨境通12月4日地天板"
[Comparative CPI SGM]Code Explanation
User Inputs:
len: Defines the period over which CPI changes are calculated, with selectable options of 12, 6, and 3 months.
CP1 and CP2: These are the economic zones whose CPI data are being compared. The options include CPI from various regions like the EU, USA, UK, etc.
Calculating and Comparing Changes:
Calculates the annual change for each CPI and then computes the difference between these two changes.
Trading Utility
In trading, CPI variations are key indicators of inflation within different economic regions. Monetary policy decisions by central banks, heavily influenced by these data, significantly impact financial markets, especially in forex and bond markets.
Monetary Policy Forecasting:
If inflation in one region is significantly higher than in another, the central bank might raise interest rates, potentially strengthening that region's currency.
Currency Trading Strategy:
Traders might use this indicator to speculate on currency pair movements. For example, if US CPI is rising faster than the EU CPI, this might suggest a potential appreciation of the USD against the EUR.
Macroeconomic Analysis:
Understanding where inflation pressures are strongest can guide longer-term investment decisions, such as choosing between emerging and developed markets.
Volume Delta [hapharmonic]Volume Delta: Volume Delta is an indicator that simplifies how you analyze trading volumes and the percentage of buy-sell activities effortlessly.
As a trader or market analyst, understanding underlying volume and trade flows is critical. The Volume Delta indicator provides thorough insight into both the total volume and the percentage of buying versus selling within the current candlestick. This information is pivotal for those looking to gauge market momentum and sentiment more effectively.
Additionally, the Volume Delta indicator can plot the candlestick colors based on the percentage of the dominant buying or selling volume. The area between the open and close prices of the candlestick is considered 100% and fills with colors corresponding to the predominant volume at that percentage.
Volume Delta also integrates the concept of Net volume. This component is crucial as it reveals the real market sentiment by calculating the difference between the volume of trades executed at an uptick and those at a downtick.
🟠 Overview
This indicator now displays in two layouts. Recently, Tradingview introduced the "force_overlay=true" function in Pine Script , allowing plots to be moved to the main chart. Thus, all displays are from the same indicator.
🟠 USAGE
From the data displayed in 'plot.style_columns' , the peak area represents the entire volume, accounting for 100%. Within this area, there are two color levels indicating volume. If one type of volume, whether buying or selling, exceeds the other, the larger volume will be positioned behind and the smaller in front. This arrangement prevents the scenario where a higher buying volume obscures the smaller selling volume. Therefore, the two colors can be switched between the front and the back as needed.
As you can see, the 12 and 26-day Exponential Moving Averages (EMAs) are used, with the Volume Confirmation Length set at 6. Therefore, the crossing of the EMAs proceeds normally, but it is highlighted with three triangular arrows to indicate a high likelihood of a valid crossover. However, if the volume is insufficient, these markers won't be displayed, although the EMA crossover will still occur as usual. This can be useful for using volume to verify the significance of the EMA crossover.
🟠 Setting
If you enable the label, please be aware that the chart size will shrink, causing the candlestick display to become unclear. Therefore, you might need to select "Logarithmic" at the bottom right of your screen, or for mobile applications, press and hold on the price scale and choose "Logarithmic" to adjust the scale appropriately.
Enjoy!
Movement based on Buying/Selling VolumeDescription:
The "Buying Selling Volume" indicator calculates buying and selling volumes based on price movements within a specified lookback period. It then computes exponential moving averages (EMAs) of these volumes to determine trend direction. The indicator visually represents trend direction on the chart.
Volume Calculation and Normalization (Lines #1 - #12):
The indicator first computes the buying volume (BV) and selling volume (SV) based on price movements within the specified lookback period. These volumes are calculated proportionally to the distance between the closing price and the high and low of each candle.
To ensure consistent behavior and prevent division by zero, the volumes are normalized using a conditional statement to handle cases where the high and low are equal, which implies a lack of price movement.
Additionally, the volume (vol) is normalized to ensure non-zero division in subsequent calculations.
Total Volume and Proportional Volume Calculation (Lines #13 - #20):
The total volume (TP) is computed by summing the buying and selling volumes.
The proportional buying volume (BPV) and selling volume (SPV) are then calculated based on their respective contributions to the total volume.
These proportional volumes are scaled by the total volume to ensure accurate representation relative to market activity.
Evaluating Buying and Selling Pressure (Lines #21 - #24):
The code segment assigns positive or negative values to represent buying and selling pressure, respectively, based on the comparison between BPV and SPV. This step involves determining whether the buying pressure exceeds the selling pressure or vice versa.
The calculated values, denoted as BPc1 and SPc1, encapsulate the relative strength of buying and selling forces within the market.
EMA Calculation and Trend Identification (Lines #25 - #32):
The BPc1 and SPc1 values are subjected to exponential moving average (EMA) calculations using the specified lookback period (LookbackL). This process involves smoothing out the buying and selling pressure data to reveal underlying trends.
The resulting EMAs, represented by ema1B and ema1S, serve as crucial indicators of trend direction. A bullish trend is indicated when ema1B exceeds ema1S, while a bearish trend is signaled when ema1B falls below ema1S.
Secondary Volume Analysis and Trend Confirmation (Lines #33 - #42):
A similar volume analysis and EMA calculation process is repeated in this segment, using a different lookback period (LookbackL2). This allows for a secondary assessment of market dynamics and trend direction.
The resulting EMAs, denoted as ema1B2 and ema1S2, are compared to validate the trend direction identified in the primary analysis.
Visual Representation and Trend Display (Lines #43 - #46):
Finally, the indicator visualizes the identified trends on the chart by plotting colored shapes based on the comparison between the primary and secondary trend directions.
A green color indicates alignment in bullish trends, a red color signifies alignment in bearish trends, while a neutral color (gray) represents no clear consensus between the primary and secondary analyses.
Ideal Usage:
1. **Trend Confirmation:** Traders can use this indicator to confirm trend direction before entering trades.
2. **Reversal Signals:** Changes in trend direction, indicated by shifts in plotted shape colors, can signal potential market reversals.
Warnings:
1. **False Signals:** Like any technical indicator, false signals may occur, especially during low-volume or choppy market conditions. Additional analysis and risk management techniques are essential to mitigate potential losses.
2. **Parameter Sensitivity:** Adjusting lookback periods can impact the indicator's sensitivity to price movements. Traders should test different parameter settings and consider market conditions when using the indicator.
Kalman Filter Volume Bands by TenozenHello there! I am excited to introduce a new original indicator, the Kalman Filter Volume Bands. This indicator is calculated using the Kalman Filter, which is an adaptive-based smoothing quantitative tool. The Kalman Filter Volume Bands have two components that support the calculation, namely VWAP and VaR.
VWAP is used to determine the weight of the Kalman Filter Returns, but it doesn't have a significant impact on the calculation. On the other hand, VaR or Value at risk is calculated using the 99th percentile, which means that there is a 1% chance for the returns to exceed the 99th percentile level. After getting the VaR value, I manually adjust the bands based on the current market I'm trading on. I take the highest point (VaR*2) and the lowest point (-(VaR*2)) from the Kalman Filter, and then divide them into segments manually based on my preference.
This process results in 8 segments, where 2 segments near the Kalman Filter are further divided, making a total of 12 segments. These segments classify the current state of the price based on code-based coloring. The five states are very bullish, bullish, very bearish, bearish, and neutral.
I created this indicator to have an adaptive band that is not biased toward the volatility of the market. Most band-based indicators don't capture reversals that well, but the Kalman Filter Volume Bands can capture both trends and reversals. This makes it suitable for both trend-following and reversal trading approaches.
That's all for the explanation! Ciao!
Additional Reminder:
- Please use hourly timeframes or higher as lower timeframes are too noisy for reliable readings of this indicator.
US CPIIntroducing "US CPI" Indicator
The "US CPI" indicator, based on the Consumer Price Index (CPI) of the United States, is a valuable tool for analyzing inflation trends in the U.S. economy. This indicator is derived from official data provided by the U.S. Bureau of Labor Statistics (BLS) and is widely recognized as a key measure of inflationary pressures.
What is CPI?
The Consumer Price Index (CPI) is a measure that examines the average change in prices paid by consumers for a basket of goods and services over time. It is an essential economic indicator used to gauge inflationary trends and assess changes in the cost of living.
How is "US CPI" Calculated?
The "US CPI" indicator in this script retrieves CPI data from the Federal Reserve Economic Data (FRED) using the FRED:CPIAUCSL symbol. It calculates the rate of change in CPI over a specified period (typically 12 months) and applies technical analysis tools like moving averages (SMA and EMA) for trend analysis and smoothing.
Why Use "US CPI" Indicator?
1. Inflation Analysis: Monitoring CPI trends provides insights into the rate of inflation, which is crucial for understanding the overall economic health and potential impact on monetary policy.
2. Policy Implications: Changes in CPI influence decisions by policymakers, central banks, and investors regarding interest rates, fiscal policies, and asset allocation.
3. Market Sentiment: CPI data often impacts market sentiment, influencing trading strategies across various asset classes including currencies, bonds, and equities.
Key Features:
1. Customizable Smoothing: The indicator allows users to apply exponential moving average (EMA) smoothing to CPI data for clearer trend identification.
2. Visual Representation: The plotted line visually represents the inflation rate based on CPI data, helping traders and analysts assess inflationary pressures at a glance.
Sources and Data Integrity:
The CPI data used in this indicator is sourced directly from FRED, ensuring reliability and accuracy. The script incorporates robust security protocols to handle data requests and maintain data integrity in a trading environment.
In conclusion, the "US CPI" indicator offers a comprehensive view of inflation dynamics in the U.S. economy, providing traders, economists, and policymakers with valuable insights for informed decision-making and risk management.
Disclaimer: This indicator and accompanying analysis are for informational purposes only and should not be construed as financial advice. Users are encouraged to conduct their own research and consult with professional advisors before making investment decisions.
MTF BB+KC Avg
Bollinger Bands (BB) are a widely used technical analysis created by John Bollinger in the early 1980’s. Bollinger Bands consist of a band of three lines which are plotted in relation to instrument prices. The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (The type of trend line and period can be changed by the trader; however a 20 day moving average is by far the most popular). This indicator does not plot the middle line. The Upper and Lower Bands are used as a way to measure volatility by observing the relationship between the Bands and price. Typically the Upper and Lower Bands are set to two standard deviations away from the middle line, however the number of standard deviations can also be adjusted in the indicator.
Keltner Channels (KC) are banded lines similar to Bollinger Bands and Moving Average Envelopes. They consist of an Upper Envelope above a Middle Line (not plotted in this indicator) as well as a Lower Envelope below the Middle Line. The Middle Line is a moving average of price over a user-defined time period. Either a simple moving average or an exponential moving average are typically used. The Upper and Lower Envelopes are set a (user-defined multiple) of a range away from the Middle Line. This can be a multiple of the daily high/low range, or more commonly a multiple of the Average True Range.
This indicator is built on AVERAGING the BB and KC values for each bar, so you have an efficient metric of AVERAGE volatility. The indicator visualizes changes in volatility which is of course dynamic.
What to look for
High/Low Prices
One thing that must be understood about this indicator's plots is that it averages by adding BB levels to KC levels and dividing by 2. So the plots provide a relative definition of high and low from two very popular indicators. Prices are almost always within the upper and lower bands. Therefore, when prices move up near the upper or lower bands or even break through the band, many traders would see that price action as OVER-EXTENDED (either overbought or oversold, as applicable). This would preset a possible selling or buying opportunity.
Cycling Between Expansion and Contraction
Volatility can generally be seen as a cycle. Typically periods of time with low volatility and steady or sideways prices (known as contraction) are followed by period of expansion. Expansion is a period of time characterized by high volatility and moving prices. Periods of expansion are then generally followed by periods of contraction. It is a cycle in which traders can be better prepared to navigate by using Bollinger Bands because of the indicators ability to monitor ever changing volatility.
Walking the Bands
Of course, just like with any indicator, there are exceptions to every rule and plenty of examples where what is expected to happen, does not happen. Previously, it was mentioned that price breaking above the Upper Band or breaking below the Lower band could signify a selling or buying opportunity respectively. However this is not always the case. “Walking the Bands” can occur in either a strong uptrend or a strong downtrend.
During a strong uptrend, there may be repeated instances of price touching or breaking through the Upper Band. Each time that this occurs, it is not a sell signal, it is a result of the overall strength of the move. Likewise during a strong downtrend there may be repeated instances of price touching or breaking through the Lower Band. Each time that this occurs, it is not a buy signal, it is a result of the overall strength of the move.
Keep in mind that instances of “Walking the Bands” will only occur in strong, defined uptrends or downtrends.
Inputs
TimeFrame
You can select any timeframe froom 1 minute to 12 months for the bar measured.
Length of the internal moving averages
You can select the period of time to be used in calculating the moving averages which create the base for the Upper and Lower Bands. 20 days is the default.
Basis MA Type
Determines the type of Moving Average that is applied to the basis plot line. Default is SMA and you can select EMA.
Source
Determines what data from each bar will be used in calculations. Close is the default.
StdDev/Multiplier
The number of Standard Deviations (for BB) or Multiplier (for KC) away from the moving averages that the Upper and Lower Bands should be. 2 is the default value for each indicator.
Multi-time Frame Trend DirectionThis is a multi-time frame trend direction indicator. It indicates whether the trend is ascending or descending across multiple time frames: 5M, 15M, 30M, 1H, 4H, and Daily.
The logic is based on the positions of EMA12 and EMA26.
These EMAs are smoothed with an SMA.
Why 12 and 26, and why are they smoothed with 9?
As you might surmise, these parameters are derived from the MACD.
I recommend not altering the parameters, but the choice is yours. Enjoy.
ICT Silver Bullet Vertical Lines by Fahmi EshaqThis indicator is designed for users interested in backtesting the Silver Bullet strategy. It eliminates the need for manual drawing of vertical lines by automatically highlighting specific times known as ICT Silver Bullet times. These times correspond to periods when smart money are active the market. The indicator marks these Silver Bullet times with vertical lines, making them easily identifiable. The specified Silver Bullet times are 3AM-4AM, 10AM-11AM, and 2PM-3PM New York time. Additionally, a vertical line is added at 12:00AM to demarcate the start of each day, as days begin at midnight.
ka66: Externally-Sourced MACDThis indicator generalises the idea of MACD to take any arbitrary series available on the chart, using input.source values .
To provide an overview of the MACD indicator:
You have two EMAs, one with a faster period, usually 12, another with a slower period, usually 26.
You calculate a MACD line, by doing (fastEMA - slowEMA)
You then calculate a Signal Line by taking a moving average of the MACD line over some period.
With this indicator, you can analyse momentum between any 2 series (not just EMAs), they could be raw close prices, other moving averages on the chart including specialised ones, that most MACD implementations won't provide a facility for, for example Kaufman Moving Average.
The chart shows this indicator sourcing 2 inputs from the chart:
A Hull Moving Average as the fast series
And a Simple Moving Average as the slow series
It then calculates the MACD (Series1 - Series2), and a Signal line from the resulting MACD.
A signal series is still calculated manually by the indicator, and thus will be restricted to the provided moving average options (this indicator provides a few like EMA, SMA, Hull, and so on).
Uses of this indicator are essentially what you will use a MACD for:
Evaluate momentum of a strength.
Crossover Signals: MACD vs. Signal, MACD vs. Zero Line, MACD Histogram gradation.
Evaluate overbought/oversold conditions.
As a low-resolution view to confirm price action.
Divergences
AWR - Chris - V3Calculates the AWR based on Dr. Coles formula. Takes the last 12 weeks (not including the current one) highs and lows, adds them and then divides by twelve, give the average weekly range. Then takes the AWR and show the playing field based on the high and low of the current weekly candle. Must be used on the weekly chart to get the data needed then manually plot your lines on the required charts.
Statistics • Chi Square • P-value • SignificanceThe Statistics • Chi Square • P-value • Significance publication aims to provide a tool for combining different conditions and checking whether the outcome is significant using the Chi-Square Test and P-value.
🔶 USAGE
The basic principle is to compare two or more groups and check the results of a query test, such as asking men and women whether they want to see a romantic or non-romantic movie.
–––––––––––––––––––––––––––––––––––––––––––––
| | ROMANTIC | NON-ROMANTIC | ⬅︎ MOVIE |
–––––––––––––––––––––––––––––––––––––––––––––
| MEN | 2 | 8 | 10 |
–––––––––––––––––––––––––––––––––––––––––––––
| WOMEN | 7 | 3 | 10 |
–––––––––––––––––––––––––––––––––––––––––––––
|⬆︎ SEX | 10 | 10 | 20 |
–––––––––––––––––––––––––––––––––––––––––––––
We calculate the Chi-Square Formula, which is:
Χ² = Σ ( (Observed Value − Expected Value)² / Expected Value )
In this publication, this is:
chiSquare = 0.
for i = 0 to rows -1
for j = 0 to colums -1
observedValue = aBin.get(i).aFloat.get(j)
expectedValue = math.max(1e-12, aBin.get(i).aFloat.get(colums) * aBin.get(rows).aFloat.get(j) / sumT) //Division by 0 protection
chiSquare += math.pow(observedValue - expectedValue, 2) / expectedValue
Together with the 'Degree of Freedom', which is (rows − 1) × (columns − 1) , the P-value can be calculated.
In this case it is P-value: 0.02462
A P-value lower than 0.05 is considered to be significant. Statistically, women tend to choose a romantic movie more, while men prefer a non-romantic one.
Users have the option to choose a P-value, calculated from a standard table or through a math.ucla.edu - Javascript-based function (see references below).
Note that the population (10 men + 10 women = 20) is small, something to consider.
Either way, this principle is applied in the script, where conditions can be chosen like rsi, close, high, ...
🔹 CONDITION
Conditions are added to the left column ('CONDITION')
For example, previous rsi values (rsi ) between 0-100, divided in separate groups
🔹 CLOSE
Then, the movement of the last close is evaluated
UP when close is higher then previous close (close )
DOWN when close is lower then previous close
EQUAL when close is equal then previous close
It is also possible to use only 2 columns by adding EQUAL to UP or DOWN
UP
DOWN/EQUAL
or
UP/EQUAL
DOWN
In other words, when previous rsi value was between 80 and 90, this resulted in:
19 times a current close higher than previous close
14 times a current close lower than previous close
0 times a current close equal than previous close
However, the P-value tells us it is not statistical significant.
NOTE: Always keep in mind that past behaviour gives no certainty about future behaviour.
A vertical line is drawn at the beginning of the chosen population (max 4990)
Here, the results seem significant.
🔹 GROUPS
It is important to ensure that the groups are formed correctly. All possibilities should be present, and conditions should only be part of 1 group.
In the example above, the two top situations are acceptable; close against close can only be higher, lower or equal.
The two examples at the bottom, however, are very poorly constructed.
Several conditions can be placed in more than 1 group, and some conditions are not integrated into a group. Even if the results are significant, they are useless because of the group formation.
A population count is added as an aid to spot errors in group formation.
In this example, there is a discrepancy between the population and total count due to the absence of a condition.
The results when rsi was between 5-25 are not included, resulting in unreliable results.
🔹 PRACTICAL EXAMPLES
In this example, we have specific groups where the condition only applies to that group.
For example, the condition rsi > 55 and rsi <= 65 isn't true in another group.
Also, every possible rsi value (0 - 100) is present in 1 of the groups.
rsi > 15 and rsi <= 25 28 times UP, 19 times DOWN and 2 times EQUAL. P-value: 0.01171
When looking in detail and examining the area 15-25 RSI, we see this:
The population is now not representative (only checking for RSI between 15-25; all other RSI values are not included), so we can ignore the P-value in this case. It is merely to check in detail. In this case, the RSI values 23 and 24 seem promising.
NOTE: We should check what the close price did without any condition.
If, for example, the close price had risen 100 times out of 100, this would make things very relative.
In this case (at least two conditions need to be present), we set 1 condition at 'always true' and another at 'always false' so we'll get only the close values without any condition:
Changing the population or the conditions will change the P-value.
In the following example, the outcome is evaluated when:
close value from 1 bar back is higher than the close value from 2 bars back
close value from 1 bar back is lower/equal than the close value from 2 bars back
Or:
close value from 1 bar back is higher than the close value from 2 bars back
close value from 1 bar back is equal than the close value from 2 bars back
close value from 1 bar back is lower than the close value from 2 bars back
In both examples, all possibilities of close against close are included in the calculations. close can only by higher, equal or lower than close
Both examples have the results without a condition included (5 = 5 and 5 < 5) so one can compare the direction of current close.
🔶 NOTES
• Always keep in mind that:
Past behaviour gives no certainty about future behaviour.
Everything depends on time, cycles, events, fundamentals, technicals, ...
• This test only works for categorical data (data in categories), such as Gender {Men, Women} or color {Red, Yellow, Green, Blue} etc., but not numerical data such as height or weight. One might argue that such tests shouldn't use rsi, close, ... values.
• Consider what you're measuring
For example rsi of the current bar will always lead to a close higher than the previous close, since this is inherent to the rsi calculations.
• Be careful; often, there are na -values at the beginning of the series, which are not included in the calculations!
• Always keep in mind considering what the close price did without any condition
• The numbers must be large enough. Each entry must be five or more. In other words, it is vital to make the 'population' large enough.
• The code can be developed further, for example, by splitting UP, DOWN in close UP 1-2%, close UP 2-3%, close UP 3-4%, ...
• rsi can be supplemented with stochRSI, MFI, sma, ema, ...
🔶 SETTINGS
🔹 Population
• Choose the population size; in other words, how many bars you want to go back to. If fewer bars are available than set, this will be automatically adjusted.
🔹 Inputs
At least two conditions need to be chosen.
• Users can add up to 11 conditions, where each condition can contain two different conditions.
🔹 RSI
• Length
🔹 Levels
• Set the used levels as desired.
🔹 Levels
• P-value: P-value retrieved using a standard table method or a function.
• Used function, derived from Chi-Square Distribution Function; JavaScript
LogGamma(Z) =>
S = 1
+ 76.18009173 / Z
- 86.50532033 / (Z+1)
+ 24.01409822 / (Z+2)
- 1.231739516 / (Z+3)
+ 0.00120858003 / (Z+4)
- 0.00000536382 / (Z+5)
(Z-.5) * math.log(Z+4.5) - (Z+4.5) + math.log(S * 2.50662827465)
Gcf(float X, A) => // Good for X > A +1
A0=0., B0=1., A1=1., B1=X, AOLD=0., N=0
while (math.abs((A1-AOLD)/A1) > .00001)
AOLD := A1
N += 1
A0 := A1+(N-A)*A0
B0 := B1+(N-A)*B0
A1 := X*A0+N*A1
B1 := X*B0+N*B1
A0 := A0/B1
B0 := B0/B1
A1 := A1/B1
B1 := 1
Prob = math.exp(A * math.log(X) - X - LogGamma(A)) * A1
1 - Prob
Gser(X, A) => // Good for X < A +1
T9 = 1. / A
G = T9
I = 1
while (T9 > G* 0.00001)
T9 := T9 * X / (A + I)
G := G + T9
I += 1
G *= math.exp(A * math.log(X) - X - LogGamma(A))
Gammacdf(x, a) =>
GI = 0.
if (x<=0)
GI := 0
else if (x
Chisqcdf = Gammacdf(Z/2, DF/2)
Chisqcdf := math.round(Chisqcdf * 100000) / 100000
pValue = 1 - Chisqcdf
🔶 REFERENCES
mathsisfun.com, Chi-Square Test
Chi-Square Distribution Function
How to force strategies fire exit alerts not reversalsPineScript has gone a long way, from very simple and little-capable scripting language to a robust coding platform with reliable execution endpoints. However, this one small intuitivity glitch is still there and is likely to stay, because it is traditionally justified and quite intuitive for significant group of traders. I'm sharing this workaround in response to frequent inquiries about it.
What's the glitch? When setting alerts on strategies to be synchronized with TradingView's Strategy Tester events, using simple alert messages such as "buy" or "sell" based on entry direction seems straightforward by inserting {{strategy.order.action}} into the Create Alert's "Message" field. Because "buy" or "sell" are exactly the strings produced by {{strategy.order.action}} placeholder. However, complications arise when attempting to EXIT positions without reversing, whether triggered by price levels like Stop Loss or Take Profit, or logical conditions to close trades. Those bricks fall apart, because on such events {{strategy.order.action}} sends the same "sell" for exiting buy positions and "buy" for exiting sell positions, instead of something more differentiating like "closebuy" or "closesell". As a result reversal trades are opened, instead of simply closing the open ones.
This convention harkens back to traditional stock market practices, where traders either bought shares to enter positions or sold them to exit. However, modern trading encompasses diverse instruments like CFDs, indices, and Forex, alongside advanced features such as Stop Loss, reshaping the landscape. Despite these advancements, the traditional nomenclature persists.
And is poised to stay on TradingView as well, so we need a workaround to get a simple strategy going. Luckily it is here and is called alert_message . It is a parameter, which needs to be added into each strategy.entry() / strategy.exit() / strategy.close() function call - each call, which causes Strategy Tester to produce entry or exit orders. As in this example script:
line 12: strategy.entry(... alert_message ="buy")
line 14: strategy.entry(... alert_message ="sell")
line 19: strategy.exit(... alert_message ="closebuy")
line 20: strategy.exit(... alert_message ="closesell")
line 24: strategy.close(... alert_message ="closebuy")
line 26: strategy.close(... alert_message ="closesell")
These alert messages are compatible with the Alerts Syntax of TradingConnector - a tool facilitating auto-execution of TradingView alerts in MetaTrader 4 or 5. Yes, simple alert messages like "buy" / "sell" / "closebuy" / "closesell" suffice to carry the execution of simple strategy, without complex JSON files with multiple ids and such. Other parameters can be added (actually plenty), but they are only option and that's not a part of this story :)
Last thing left to do is to replace "Message" in Create Alert popup with {{strategy.order.alert_message}} . This placeholder transmits the string defined in the PineScript alert_message= parameter, as outlined in this publication. With this workaround, executing closing alerts becomes seamless within PineScript strategies on TradingView.
Disclaimer: this content is purely educational, especially please don't pay attention to backtest results on any timeframe/ticker.
Stochastic / Connectable [Azullian]Advance your market analysis with the Stochastic Oscillator. Identify potential price reversals with precision, aiding in the creation of flexible and accurate strategies.
This connectable Stochastic indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ STOCHASTIC - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the Stochastic calculation.
• T - Timeframe: Select an alternative timeframe for the Stochastic calculation.
• KL - %K Length: Define the number of bars or periods used in the calculation of the %K value.
• OB - Overbought Level: Determine the Stochastic value at which overbought conditions are met.
• OS - Oversold Level: Specify the Stochastic value at which oversold conditions are met.
• %K - %K Smoothing: DDefine the number of bars or periods used to smooth the %K value.
• %D - %D Smoothing: Define the number of bars or periods used to calculate and smooth the %D
■ Scoring functionality
• The Stochastic scores long entries when the %K line crosses above the %D line within the OS (oversold) area.
• The Stochastic scores long exits when the %K line crosses below the %D line after being in the OS (oversold) area.
• The Stochastic scores long zones for the duration the %K is above the %D line within the OS (oversold) area.
• The Stochastic scores short entries when the %K line crosses below the %D line within the OB (overbought) area.
• The Stochastic scores short exits when the %K line crosses above the %D line after being in the OB (overbought) area.
• The Stochastic scores short zones for the duration the %K is below the %D line within the OB (overbought) area.
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", a Stochastic signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, or strategy .
Let's connect the Stochastic to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load Stochastic / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the Stochastic to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : Stochastic / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
RSI / Connectable [Azullian]Enhance your trading approach with the modular RSI indicator, skilled in identifying market extremes. Simplify pattern visualization and signal weighting for more efficient strategy formulation.
This connectable RSI indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
■ Entries, exits and zone illustrated on a standard RSI indicator when the RSI is overbought.
█ RSI - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the RSI calculation.
• T - Timeframe: Select an alternative timeframe for the RSI calculation.
• LE - Length: Define the number of bars or periods used in the RSI calculation.
• OB - Overbought Level: Determine the RSI value at which overbought conditions are met.
• OS - Oversold Level: Specify the RSI value at which oversold conditions are met.
■ Scoring functionality
• The RSI scores long entries when the RSI enters OS: oversold area
• The RSI scores long exits when the RSI exits OS: oversold area
• The RSI scores long zones the entire time the RSI is in OS: oversold area
• The RSI scores short entries when the RSI enters OB: overbought area
• The RSI scores short exits when the RSI exits OB: overbought area
• The RSI scores short zones the entire time the RSI is in OB: overbought area
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an RSI signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, or strategy .
Let's connect the RSI to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load RSI / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the RSI to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : RSI / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
MACD / Connectable [Azullian]Enhance your market insight with the MACD indicator. Monitor momentum to make more informed trading decisions, facilitating the development of stronger strategies.
This connectable MACD indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ MACD - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the MACD calculation.
• T - Timeframe: Select an alternative timeframe for the MACD calculation.
• FL - Fast Length: Define the number of bars or periods used in the MACD calculation for the fast length.
• SL - Fast Length: Define the number of bars or periods used in the MACD calculation for the slow length.
• SM - Smoothing: Smooths the averaged MACD over a specified period.
• C - Condition Define the smoothing amount
○ Above/Below zero: : Trigger when the MACD line is above or below zero
○ All: : Trigger on all conditions
■ MACD Scoring functionality
• The MACD scores long entries when it crosses above its smoothed value and is below the zero line.
• The MACD scores long exits when it crosses below its smoothed value after a long entry.
• The MACD scores long zones the entire time the MACD line is above its smoothed value and below zero.
• The MACD scores short entries when it crosses below its smoothed value and is above the zero line.
• The MACD scores short exits when it crosses above its smoothed value after a short entry.
• The MACD scores short zones the entire time the MACD line is below its smoothed value and above zero.
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an MACD signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, monitor, or strategy .
Let's connect the MACD to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load MACD / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the MACD to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : MACD / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
MA / Connectable [Azullian]Streamline trend analysis with the Moving Average indicator. Filter out market noise, aiding in the clear identification of market directions for dynamic strategy development.
This connectable moving average indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ Start: A new trend starting will score
○ End: A trend ending will score
○ Zone: Continuous scoring for each candle between the start and the end.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ MA - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• T - Type: Choose a type of moving average. (ALMA, EMA, HMA, RMA, SMA, SWMA, VWMA, WMA)
• L - Length: Set a period on which the moving average is calculated.
• F - Filter: Set a conditional filter for scoring:
○ Line direction: Score bullish when the trend line is going up, score bearish when the trendline is going down.
○ Line candle position: Score bullish when the candles are above the current trendline, score bearish when the candles are below the current trendline
○ Any: Score if any of the previously mentioned conditions are true
○ All: Score if all of the previously mentioned conditions are true
• S - Source: Choose an alternative data source for the Moving average calculation.
• T - Timeframe: Select an alternative timeframe for the Moving average calculation.
• C - Candletype: Choose a candletype for the alternative source.
■ Scoring functionality
• For each moving average you'll be able to score Bullish, Bearish or Neutral for each of the conditions as mentioned in the filter above.
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) Moving average lines are plotted with bearish, bullish and neutral zones, in the visuals section you can enable plotting by weight which will only show the parts of the moving average line to which weight is addressed.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", a moving average signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, or strategy .
Let's connect the MA to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load MA / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the MA to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : MA / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
KDJ / Connectable [Azullian]Enhance your analysis with our KDJ. Oscillate through buying and selling signals seamlessly, identifying potential reversals with accuracy.
This connectable KDJ indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ KDJ - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the KDJ calculation.
• T - Timeframe: Select an alternative timeframe for the KDJ calculation.
• P - Period: Define the number of bars or periods used in the KDJ calculation.
• SL - Signal line: Adjust the smoothing factor for the KDJ's J line. This not only offers clearer buy/sell cues by reducing market noise but also determines the precise points for potential crossovers and crossunders.
■ Scoring functionality
• The KDJ scores long entries when the J line crosses over the signal (SL) line.
• The KDJ scores long exits when the J line crosses under the signal (SL) line after a prior crossover.
• The KDJ scores long zones the entire time the J line is above the signal (SL) line.
• The KDJ scores short entries when the J line crosses under the signal (SL) line.
• The KDJ scores short exits when the J line crosses over the signal (SL) line after a prior crossunder.
• The KDJ scores short zones the entire time the J line is below the signal (SL) line.
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an KDJ signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, or strategy .
Let's connect the KDJ to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load KDJ / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the KDJ to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : KDJ / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
Donchian channels / Connectable [Azullian]Refine your breakout trading techniques with Donchian Channels. Accurately pinpoint significant highs and lows, enhancing your capacity to detect and react to key market movements.
This connectable Donchian channels indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ Donchian channels - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the Donchian channels calculation.
• T - Timeframe: Select an alternative timeframe for the Donchian channels calculation.
• LE - Length: Determine the period the Donchian channels are calculated on
• Enable/Disable plotting: Toggle the plotting of the Donchian channels
• U: Choose a color for the upper band
• B: Choose a color for the basis
• L: Choose a color for the lower band
• BG: Choose a color for Donchian channels background
■ Scoring functionality
• The Donchian channels score long entries when the current low price is equal to lower band.
• The Donchian channels score long exits when the current high price is equal to the upper band.
• The Donchian channels score long zones the entire time the current low price is equal to the lower band.
• The Donchian channels score short entries when the current high is equal to the upper band.
• The Donchian channels score short exits when the current low is equal to the lower band.
• The Donchian channels score short zones the entire time the current high price is equal to the upper band.
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", a Donchian channels signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, or strategy .
Let's connect the Donchian channels to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load Donchian channels / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the Donchian channels to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : Donchian channels / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
CCI / Connectable [Azullian]Sharpen your analysis of market trends with the CCI indicator. Effectively evaluate market cycles and identify potential reversals, enriching your strategic planning.
This connectable CCI indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ CCI - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the CCI calculation.
• T - Timeframe: Select an alternative timeframe for the CCI calculation.
• LE - Length: Define the number of bars or periods used in the CCI calculation.
• OB - Overbought Level: Determine the CCI value at which overbought conditions are met.
• OS - Oversold Level: Specify the CCI value at which oversold conditions are met.
■ Scoring functionality
• The CCI scores long entries when the CCI enters OS: oversold area
• The CCI scores long exits when the CCI exits OS: oversold area
• The CCI scores long zones the entire time the CCI is in OS: oversold area
• The CCI scores short entries when the CCI enters OB: overbought area
• The CCI scores short exits when the CCI exits OB: overbought area
• The CCI scores short zones the entire time the CCI is in OB: overbought area
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an CCI signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, monitor, or strategy .
Let's connect the CCI to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load CCI / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the CCI to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : CCI / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
Bollinger bands / Connectable [Azullian]Deepen your understanding of market volatility using Bollinger Bands. This tool helps in discerning price movements and volatility trends, essential for crafting effective strategies.
This connectable Bollinger bands indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ Bollinger bands - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the Bollinger bands calculation.
• T - Timeframe: Select an alternative timeframe for the Bollinger bands calculation.
• LE - Length: Determine the period the bollinger bands are calculated on
• SD - Standard deviation: Determine the standard deviation for the bollinger bands.
• Enable/Disable plotting: Toggle the plotting of the Bollinger bands
• U: Choose a color for the upper band
• B: Choose a color for the basis
• L: Choose a color for the lower band
• BG: Choose a color for Bollinger bands background
■ Scoring functionality
• The Bollinger bands score long entries when the current low price is smaller than the lower band.
• The Bollinger bands score long exits when the current high price is higher than the upper band.
• The Bollinger bands score long zones the entire time the current low price is smaller than the lower band.
• The Bollinger bands score short entries when the current high is higher than the upper band.
• The Bollinger bands score short exits when the current low is smaller than the lower band.
• The Bollinger bands score short zones the entire time the current high price is higher than the upper band.
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", a Bollinger bands signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, and/or strategy .
Let's connect the Bollinger bands to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load Bollinger bands / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the Bollinger bands to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : Bollinger bands / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
ADX / Connectable [Azullian]
Streamline your strategy with the ADX indicator. Precisely analyze market strength and direction, integrating these insights for more adaptable trading decisions.
This connectable ADX indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ ADX - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the ADX calculation.
• T - Timeframe: Select an alternative timeframe for the ADX calculation.
• SM - Smoothing: Smooth the length averages.
• LE - DI Length: Determine the DI: Directional indicator length.
• TH - Trend threshold: Specify the level the ADX has to cross
• EM - Entry signal mode: Determine entry mode
○ DI: Use only DI+ and DI- crossings
○ DI + ADX: Use DI with increasing ADX
○ DI + ADX + Invert: Use DI with increasing ADX and DI with decreasing ADX
• XM - Exit signal mode: Determine exit mode
○ DI: Use DI crossing to exit
○ ADX: Use decreasing ADX to signal exit
■ Scoring functionality
• The ADX scores long entries when the ADX crosses the TH: Trend threshold and +DM is greater than -DM
• The ADX scores long exits when the ADX falls back below the TH: Trend threshold and +DM is greater than -DM
• The ADX scores long zones the entire time the ADX is above the TH: Trend threshold and +DM is greater than -DM
• The ADX scores short entries when the ADX crosses the TH: Trend threshold and +DM is smaller than -DM
• The ADX scores short exits when the ADX falls back below the TH: Trend threshold and +DM is smaller than -DM
• The ADX scores short zones the entire time the ADX is above the TH: Trend threshold and +DM is smaller than -DM
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an ADX signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter and/or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, and/or strategy .
Let's connect the ADX to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load ADX / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the ADX to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : ADX / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
AWR_WaveTrend Multitimeframe [adapted from LazyBear]I've adapted a script from Lazy Bear (WT trend oscillator)
WaveTrend Oscillator is a port of a famous TS/MT indicator.
When the oscillator (WT1 designed as a line) is above the overbought band (50 to 60) and crosses down the WT2 (dotted line), it is usually a good SELL signal. Similarly, when the oscillator crosses above the signal when below the Oversold band ( (-50 to -60)), it is a good BUY signal.
In this indicator, you can display at the same time, different time frames.
Choice possible are 1 mn, 15 mn, 30 mn, 60 mn, 120 mn, 240 mn, 1D, Week, Month.
Small time frames (1 to 30 mn) are represented by a blue lines (light to dark)
1H is in grey
2H & 4H are in purple (light to dark)
1D is in green
1W is in orange
1M is in black
You can choose which timeframes you want to display for the current period or for the last period closed.
In a few seconds, you perfectly see the selected timeframes trends.
There is also at the bottom right a table summing up all the different values of WT1, WT2 and difference between them.
Positive difference means an upside trend
Negative difference means a downside trend.
Another way of using this indicator is displaying only the difference between WT1 & WT2. It's giving the speed & the direction of all trends. Trends are our friends ...
You can observe the significent times frames and look if they are all positives or negatives or if the speed of lower timeframe cross a longer timeframe of if the speed is decreasing or increasing...
Difference values goes generaly from -20 to 20 (it can exceed a bit but really rare). 12 is already high level of speed.
Many uses possible.
In the exemple posted, I've selected WT1 and WT2 for timeframes 4H, Daily & Weekly.
Marker 1:
Orange lines (WT1) are far below - 50 (-67 here) and cross WT2 pointed lines : weekly buy signal
But this buy signal is balanced by 4H & Daily sell signal = it's marking start of hesitations of main trend !!!!
Marker 2 :
Next buy signal in 4H or daily would normaly confirm the start
Marker 3 :
Sell signal in 4H and daily but weekly has an upside trend ! Start of a counter trend in the trend. To find the perfect timing of that you have to look to lower time frames, because 4H and daily are giving many hesitations signals crossing down & crossing up many times in an overbought zone.
Marker 4 :
End of the counter trend. Most of the time, the countertrend don't go in the "over" zone. That's why if you trading in an counter trend, you have to keep it in mind.
Then a few days later you can see the sell signal. And what a sell signal ! 4H & daily are smashed down really fastly ! Trends change warning !
Marker 5
Long hesitation/change of the trend. Daily WT and 4H are below the weekly trends. Weekly start to go down.
Start of a counter trend inside the trend giving us the best selling signal at her end !
Marker 6 :
Long hesitation/change of the trend.
You have to look in lower time frames to identify the short trend. Difficult to find the best timing to get in. ....
I've add many alerts. When a time frame become positive or negative. When many time frames are positive or negative or above or below 47 level...
Please feel free to explore.
Hope it will help you.
Thanks to Lazybear ! Thousands thanks to Lazybear !
Exemple with difference
