Micro zigzag is created based on similar concepts as that of zigzag but by using lower timeframe intra-bar data. The lines join candle's high/low points but also depict how the price movement within the candle happened. That is, if the high of the candle is reached first, pivot from previous candle join the high first and then low and vice versa.
The output can...
Further development on the sub-candle concept defined in the earlier script. SubCandle
This time instead of concentrating only on the last part, we are dividing the main candle into three parts.
First Sub-Candle - Covers the candle movement from open to first of highest/lowest point. First sub-candle tells how fast/slow the initial movement took place and...
I created this script as POC to handle specific cases where not having tick data on historical bars create repainting. Happy to share if this serves purpose for other coders.
What is the function of this script?
Script plots a sub-candle which is remainder of candle after forming the latest peak.
Higher body of Sub-candle refers to strong retracement of...
Before getting into the script, I would like to explain bit of history around this project. Wolfe was in the back of my mind for some time and I had several attempts so far.
When I first developed harmonic patterns, I got many requests from users to develop script to automatically detect Wolfe formation. I thought it would be easy and started...
I started off with the intention of creating script to identify Wolfe wave projection. But, soon ran into problem with loops. Realized drawing wedge is more difficult than drawing converging triangle. Hence, took a step back and started working on wedges and triangle identification. Ended up with a messy output which looked like this.
Had to take another step...
Lets make things bit complicated.
Main difference between this script and the earlier Multi Zigzag Harmonic Pattern is the calculation logic of Zigzag 2, 3 and 4
In the earlier script, all zigzags were plain and were calculated on the basis of different lengths. (Such as 5, 10, 15, 20). These were derived on the basis of Multi Zigzag indicator
I may not be able to spend much time on the harmonic patterns and realized that there are not much open source scripts on them either. Hence, decided to release open source version which can be used by other developers for reference and build things on top of it.
Original script is protected and can be found here:
Logical ratios of patterns are coded as below:...
Combining Multizigzag with harmonic patterns - this script generates harmonic patterns based on multiple deapth zigzags.
Input parameter allows to chose which Zigzag to be included in pattern identification and set different length, line color, width and style for each Zigzag combinations.
Pattern rules are as below:
xab = 0.618
0.382 <= abc...
This is a very simple script which can be used as measure to define your trading zones based on volatility.
This script tries to identify the area of low and high volatility based on comparison between Bandwidth of higher length and ATR of lower length.
Relative Bandwidth = Bandwidth / ATR
Bandwidth can be based on either Bollinger Band, Keltner...
Library contains utility functions using arrays.
delete( arr , index)
remove an item from array at specific index. Also deletes the item
arr: - array from which the item needs to be deleted
index: - index of item to be deleted
pop( arr )
remove the last item from array. Also deletes the...
Here is my first attempt on defining volume profile. In this script, I am using new feature of pine security_lower_tf
Upon loading the script, it will ask users to select Time range to show the volume profile. Once you select the time range, confirmation input will popup. Upon confirming the inputs, you will be able to view the volume profile
Nothing fancy. Just converted the new matrix library of zigzags ( mZigzag ) into indicator as I sensed it can be useful as indicator.
On top of the standard zigzag, the indicator also tracks given oscillators, moving average and volume indicators on each pivots. More indicators can be added programmatically - but it will take up space in chart. Hence, so far I...
simple utility to draw different candles using box and lines. Quite useful for drawing candles such as zigzag candles or MTF candles
draw(o, h, l, c, oBar, cBar)
draws candles based on ohlc values
o : Open Price
h : High Price
l : Low Price
c : Close Price
oBar : Open Time
cBar : Close...
Matrix implementation of zigzag to allow further possibilities.
Main advantage of this library over previous zigzag methods is that you can attach any number of indicator/oscillator information to zigzag
calculate(length, ohlc, indicatorHigh, indicatorLow, numberOfPivots) calculates zigzag and related information
Library provides an alternative method to scan harmonic patterns. This is helpful in reducing iterations. Republishing as new library instead of existing eHarmonicpatterns because I need that copy for existing scripts.
scan_xab(bcdRatio, err_min, err_max, patternArray) Checks if bcd ratio is in range of any harmonic...
⬜ The script is intended to cover few things.
▶ Strategy testing framework based on eStrategy library
▶ Using historicalrange of values for identifying better entry and exits.
This is also built on top of the Systematic Investment Plan script published here
⬜ Strategy testing framework
Strategy testing framework is different from tradingview...
A friendly reminder to myself and rest of the traders that market can stay low for prolonged time!!
Details are pretty simple.
Here is small comparison of the stats for major US indices.
Can also be applied to stocks. Cells are highlighted in red background ii
Drawdown/Recovery is still in progress for historical stats
Library contains methods which can help build custom strategy for continuous investment plans and also compare it with systematic buy and hold.
sip(startYear, initialDeposit, depositFrequency, recurringDeposit, buyPrice) Depicts systematic buy and hold over period of time
startYear : Year on which SIP is started