Hull MA with Alerts and LabelsThis script is designed to help traders visually track market trends using various types of moving averages (MAs) and to receive alerts when certain conditions are met. Here’s a detailed breakdown of how the script works:
1. User Inputs and Customization:
MA Length: Traders can define the length of the moving average (default is 100).
Confirmation Candles: The trader can specify how many candles must confirm a trend before the script triggers a signal (default is 1).
MA Variation: The trader can choose between different moving average types: Simple Moving Average (SMA), Exponential Moving Average (EMA), Weighted Moving Average (WMA), or Hull Moving Average (HMA).
Source: Traders select the price source for the moving average calculation (e.g., close price).
Ribbon Transparency: Allows control over the transparency level of the ribbon plotted between the moving averages.
Bullish/Bearish Ribbon Colors: The user can choose the colors for bullish and bearish trends.
2. Moving Average Calculations:
The script provides multiple options for calculating moving averages:
SMA (Simple Moving Average)
EMA (Exponential Moving Average)
WMA (Weighted Moving Average)
HMA (Hull Moving Average)
For the Hull Moving Average (HMA), it uses a specific formula that smoothens the movement and reduces lag, which is helpful for more reactive trend detection.
3. Plotting Moving Averages and Trend Ribbon:
The script calculates two key moving averages:
MHULL: The main moving average, selected based on the user’s chosen MA variation and source.
SHULL: A shifted version of the MHULL to help compare trends (shifted by 2 bars).
These two moving averages are plotted on the chart for visualization. MHULL is plotted in green (or another color if changed), while SHULL is plotted in red. A ribbon is drawn between MHULL and SHULL to indicate trends visually. The ribbon changes color depending on whether the trend is bullish (MHULL > SHULL) or bearish (MHULL < SHULL). The ribbon’s transparency can be adjusted for visual clarity.
4. Trend Detection:
Bullish Trend: The script checks if the price has closed above MHULL for the defined number of confirmation candles. If confirmed, a bullish trend is detected.
Bearish Trend: Similarly, the script checks if the price has closed below SHULL for the confirmation period, indicating a bearish trend.
The script tracks whether the market is in a bullish or bearish trend and prevents repeated signals by remembering the current trend state.
5. Alerts and Labels:
Bullish Alerts and Labels: When a confirmed bullish trend is detected (i.e., price closes above MHULL for the entire confirmation period and MHULL > SHULL), the script triggers an alert notifying the trader of the bullish condition. A "BULLISH" label is placed on the chart near the low of the candle where the trend was confirmed.
Bearish Alerts and Labels: If a confirmed bearish trend is detected (i.e., price closes below SHULL for the confirmation period and MHULL < SHULL), the script triggers an alert for the bearish condition. A "BEARISH" label is placed on the chart near the high of the candle where the trend was confirmed.
These alerts and labels help traders act quickly on trend changes and align their trading strategy with market conditions.
6. Practical Use for Traders:
For traders, this script offers:
Customizability : It allows traders to define the length and type of moving averages, choose price sources, and control how signals are confirmed.
Visual Trend Representation : The plotted MA lines and colored ribbons help traders easily see market direction.
Early Warnings : With alerts and labels, the script gives traders early signals when trends are shifting, allowing them to adjust positions accordingly.
Trend Confirmation : The script waits for a user-defined number of confirmation candles before signaling a new trend, reducing false signals.
Overall, the script helps traders automate their strategy by tracking moving averages and alerting them when key trend conditions are met.
Candlestickanalisys
Relative Range at Time/ Relative volatility / High−Low This script is designed to help you compare the size of the current price candle (the difference between the highest and lowest prices in a given time period) to the average size of the last several candles. It does this by calculating the average range of a certain number of previous candles (you can set how many with the "Length" input) and then dividing the current candle's range by this average. The result is plotted on the chart as a bar: if the current candle's range is larger than the average, the bar is green; if it's smaller, the bar is red. A horizontal line is also drawn at the value of 1, so you can easily see whether the current candle's range is above or below the average. If there’s an issue with the data, the script will show an error message to let you know.
Three Inside [TradingFinder] 3 Inside Up & Down Chart Patterns🔵 Introduction
"3 inside up" and "3 inside down" denote a duo of candlestick reversal patterns, each comprising three individual candles, commonly observed on candlestick charts.
These patterns manifest as a sequence of three candles, signaling a potential loss of momentum in the current trend and a potential reversal in direction.
This pattern consists of 3 consecutive candles and can be either "bullish" or "bearish".
In the bullish pattern, known as "Inside Up," emerging at the conclusion of a downtrend, the final candle must exhibit bullish characteristics, while the third candle from the end must display bearish traits.
Conversely, in the bearish pattern, termed "Inside Down," occurring at the culmination of an uptrend, the last candle must demonstrate bearish behavior, with the third candle from the end reflecting bullish attributes.
🔵 How to Use
Using this indicator is very simple. Filtering "Strong 3 Inside Bar" and "Weak 3 Inside Bar" is a feature available in the settings section. You can turn the filter "On" or "Off." By default, the "Filter" is set to "On."
" Filter: On ":
" Filter: Off ":
🔵 How to Display
For better display and differentiation of "Strong 3 Inside Bar" and "Weak 3 Inside Bar," when the "Filter: On" is active, the 3 Inside Bars are displayed in green and red colors. When the "Filter: Off" is active, the 3 Inside Bars are displayed in blue and black colors.
Incomplete Session Candle - Incomplete Timeframe Candle Marker The "Incomplete Session Candle - Incomplete Timeframe Candle Marker" is an advanced tool tailored for technical analysts who understand the importance of accurate timeframes in their charting. While the indicator is not limited to the Indian market, its genesis is rooted in the nuances of trading sessions like those in India, which span 375 minutes from 9:15 AM to 3:30 PM.
Key Features:
Detects if the current timeframe is intraday (minutes or hours).
Calculates the expected duration of the candle for the chosen timeframe.
Highlights candles that don't achieve their expected session duration by placing a cross shape above the bar.
Compatible across various intraday timeframes, aiding traders in spotting discrepancies promptly.
Why We Made This: Not Just for India:
While we looked at the Indian market, this indicator works everywhere. Regular timeframes like 30 minutes, 1 hour, and 2 hours often end with incomplete candles, especially at the end of the trading day. For example:
A 30-minute timeframe makes 13 candles, but the last one is only 15 minutes long.
A 1-hour timeframe shows 7 candles, but the last one is just the last 15 minutes.
By switching to different timeframes like 25 minutes, 75 minutes, and 125 minutes, you get more complete information for better trading decisions. Learn more about this in our article: "Power of 25, 75, and 125-Minute Timeframes in the Indian Market", recognized by Trading View's Editors' Pick.
Benefits:
The indicator extends its benefits even to users without access to certain timeframes. It accommodates traders using a 1-hour timeframe (pertaining to Indian traders). By employing this indicator, traders consistently remain mindful of incomplete candles within their chosen timeframe
For those who utilize concepts like RBR, RBD, DBR, and DBD, this indicator is paramount. An incomplete candle can skew analysis, leading to potential misinterpretations of base or leg candles.
Final thoughts:
In markets like the Indian stock market, adopting such a tool is not just beneficial, but necessary. Whether you have access to unconventional timeframes or are using traditional ones, recognizing and accounting for the limitations of incomplete candles is critical & it's important to know if your candles fit the timeframe properly. This indicator gives you a better view of the market, which helps you make smarter trades.
Lastly, Thank you for your support! Your likes & comments. If you want to give any feedback then you can give in comment section.
Let's conquer the markets together!
Liquidity PeaksThe "Liquidity Peaks" indicator is a tool designed to identify significant supply and demand zones based on volumetric analysis. It analyzes the volume profile within a specified lookback range to pinpoint the most volumetric point and draw corresponding zones on the price chart.
The 𝐋𝐢𝐪. 𝐏𝐞𝐚𝐤𝐬 indicator utilizes volume data to identify key supply and demand areas on the price chart. By examining the volume profile within a defined lookback range, it highlights three distinct zones: liquidity grab, volume containment, and the most volumetric point.
Zones and their meanings:
Liquidity grab (Orange box): This zone represents a price level where there is a significant swipe of the previous demand zone within the volume range. It indicates a potential shift in market sentiment and serves as a key supply or demand area.
Volume containment (Gray box): This zone displays the area of volume contained before the peak in volume. It provides insights into the range where buying or selling pressure was concentrated, highlighting potential support or resistance levels.
Most volumetric point (Light blue box): This zone represents the point within the lookback range that exhibits the highest volume. It signifies a significant area of market interest and indicates a potential supply or demand level.
Adjustable options:
Adjust liquidity Grab: This option allows you to adjust the size of the boxes. When enabled, the box size is set to twice the size of the high or low of the candle's wick. This adjustment enhances the visibility and accuracy of identifying swipes at specific price levels.
Show origin: Enabling this option ensures that the liquidity boxes are drawn from the wick they were created from. This provides a clear visual reference to the specific candle and highlights the liquidity levels associated with it.
Utility:
The 𝐋𝐢𝐪. 𝐏𝐞𝐚𝐤𝐬 indicator is a valuable tool for traders and investors seeking to identify significant supply and demand zones in the market. By analyzing volume data and drawing corresponding zones on the chart, it helps to pinpoint areas where buying or selling pressure is likely to emerge.
Traders can utilize this information to identify potential support and resistance levels, plan their entries and exits, and make more informed trading decisions. The liquidity grab zones can act as potential reversal or breakout points, while the volume containment zones and most volumetric points provide insights into areas of high market interest.
It is important to note that this indicator should be used in conjunction with other technical analysis tools and indicators to confirm trading signals and validate market dynamics.
Example Charts:
Candle Color OverlayDescription:
The Candle Color Overlay (CCO) indicator is a powerful tool for visualizing price movements on a chart. It overlays the chart with customizable colors, highlighting bullish and bearish candles based on their open and close values. This indicator helps traders quickly identify the direction of price movements and assess market sentiment.
How it Works:
The Candle Color Overlay indicator performs the following steps:
1. Calculation of the OHLC (Open, High, Low, Close) values for each candle based on the selected timeframe.
2. Classification of each candle as bullish or bearish:
- A bullish candle is when the closing price is greater than or equal to the opening price.
- A bearish candle is when the closing price is lower than the opening price.
3. Overlaying colors on the chart:
- The indicator applies a bullish color to the background when candles are classified as bullish and a bearish color to the background when candles classified as bearish. This overlay provides a visual representation of price movements.
4. Optional display of price movement labels:
- If enabled, the indicator shows a text label at the bottom of the current candle, indicating the percentage increase or decrease in price during a bullish or bearish background period.
Usage:
To effectively use the Candle Color Overlay indicator, follow these steps:
1. Add the indicator to your chart from the list of available indicators.
2. Configure the indicator's inputs:
- Choose the desired color for bullish candles using the "Bullish Color" input.
- Select the preferred color for bearish candles using the "Bearish Color" input.
- Specify the timeframe for analysis using the "Time Frame" input (default is 1 hour).
- Optionally enable the "Show Background Price Movement" input to display the percentage increase or decrease in price during each background period.
3. Analyze the colored overlay:
- Bullish colors represent candles where the closing price is greater than or equal to the opening price, indicating bullish sentiment.
- Bearish colors represent candles where the closing price is lower than the opening price, indicating bearish sentiment.
4. If enabled, observe the price movement labels
5. Combine the insights from the colored overlay and the price movement labels with other technical analysis tools, such as trend lines, support and resistance levels, or candlestick patterns, to make well-informed trading decisions.
Volume Breakout by Chosen VolumeDescription:
The Volume Breakout indicator (VB) is a technical analysis tool that highlights candles with significant trading volume. It helps traders identify potential breakout periods characterized by high volume activity.
How it Works:
The Volume Breakout indicator compares the volume of each candle with a user-defined minimum volume threshold. If the volume of a candle exceeds or is equal to the specified minimum volume requirement, the indicator identifies it as a volume breakout and marks it accordingly.
Usage:
To effectively utilize the Volume Breakout indicator, follow these steps:
1. Apply the VB indicator to your chart by adding it from the available indicators.
2. Customize the minimum required volume parameter according to your trading preferences. This parameter determines the threshold volume level that a candle must meet or exceed to be considered a breakout candidate.
3. Observe the candles on the chart:
- Candles that meet or exceed the minimum required volume are highlighted with a specific color (yellow by default), indicating potential breakout periods.
4. Pay attention to the volume breakout indications within the candles, as they suggest periods of increased trading activity.
5. Analyze the price action accompanying the volume breakout candles. Breakouts often indicate a surge in buying or selling pressure, potentially leading to significant price moves or trend reversals.
6. Combine the analysis of volume breakout candles with other technical analysis tools, such as trend lines, support and resistance levels, or indicators, to confirm potential trade setups.
7. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
Histogram Momentum Shaded CandlesDescription:
The Histogram Momentum Shaded Candles indicator (HMSC) is a powerful technical analysis tool that combines the concepts of the MACD (Moving Average Convergence Divergence) indicator and shaded candlestick visualization. It provides insights into momentum and trend strength by representing the MACD histogram as shaded candles on the chart.
How it Works:
The HMSC indicator calculates the MACD (Moving Average Convergence Divergence) using user-defined parameters such as the fast length, slow length, source, signal smoothing, and moving average types. It then calculates the MACD histogram by subtracting the signal line from the MACD line. The indicator transforms the histogram values into transparency levels for the shaded candles, representing bullish and bearish momentum.
Usage:
To effectively utilize the Histogram Momentum Shaded Candles indicator, follow these steps:
1. Apply the HMSC indicator to your chart by adding it from the available indicators.
2. Customize the MACD settings such as the fast length, slow length, source, signal smoothing, and moving average types according to your trading preferences.
3. Observe the shaded candles plotted on the chart:
- Bullish shaded candles (green by default) indicate positive momentum and potential buying pressure.
- Bearish shaded candles (red by default) indicate negative momentum and potential selling pressure.
4. Assess the intensity of the shaded candles:
5. Shading intensity is determined by the magnitude of the MACD histogram, with higher values resulting in more opaque candles.
6. The shading intensity reflects the strength of momentum and can help identify significant shifts in price action.
7. Combine the analysis of shaded candles with traditional candlestick patterns, trend lines, support and resistance levels, and other technical indicators to validate potential trade setups.
8. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
5m Candle OverlayDescription:
The 5m Candle Overlay indicator is a powerful technical analysis tool designed to overlay 5-minute candles onto your chart. This indicator enables detailed analysis of price action within the 5-minute time frame, providing valuable insights into short-term market movements.
How it Works:
The 5m Candle Overlay indicator calculates the OHLC (Open, High, Low, Close) values specifically for the 5-minute time frame. By utilizing the request.security function, it retrieves the OHLC values for each 5-minute candle. The indicator then determines the color for each candle based on a comparison between the close and open prices. Bullish candles are assigned a green color with 75% opacity, while bearish candles are assigned a red color with 75% opacity. Additionally, the indicator checks if the current bar index is a multiple of 5 to prevent overlapping and enhance visualization.
Usage:
To effectively utilize the 5m Candle Overlay indicator, follow these steps:
1. Apply the 5m Candle Overlay indicator to your chart by adding it from the available indicators.
2. Observe the overlay of 5-minute candles on your chart, providing a detailed representation of price movements within the 5-minute time frame.
3. Interpret the candles:
- Bullish candles (green by default) indicate that the close price is higher than the open price, suggesting potential buying pressure.
- Bearish candles (red by default) indicate that the close price is lower than the open price, suggesting potential selling pressure.
4. Note that the indicator plots candles with a vertical offset every fifth indicator to prevent overlapping, ensuring clarity and ease of interpretation.
5. Combine the analysis of the 5-minute candles with other technical analysis tools, such as support and resistance levels, trend lines, or indicators from different time frames, to gain deeper insights and identify potential trade setups.
6. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to effectively manage your trades within the 5-minute time frame and protect your capital.
Equilibrium╭━━━╮╱╱╱╱╱╱╭╮╱╭╮
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Overview
Equilibrium is a tool designed to measure the buying & selling pressure in the market. It is depicted as a “pressure gauge” that automatically adjusts as new candles are formed, providing a real-time indication of who's on top right now, buyers or sellers?
Background
Supply & demand is considered to be the main driving force of our modern economies, where the interaction between the two parties(sellers & buyers) leads to the determination of the fair price for a given product. Stock markets are no exception, they operate very much based around the idea of supply & demand.
In simple terms, supply refers to the availability of a product, and demand is the willingness of consumers to buy that product at a given price. It is obvious that different vendors may sell the same product at slightly different prices, and similarly, different customers may choose to buy the same product from different vendors at varying prices. The idea is that the price is allowed to fluctuate from time to time, but in a free & fair market, the price will eventually settle down to a value that makes both the parties happy. Such a state is known as the “Price-Equilibrium”, and this process is also referred to as the market mechanism.
This is the basic assumption around which this tool is based, the market is always trying to move towards a state of equilibrium.
Calculations
This tool takes a simplistic approach to estimate the degree of imbalance between buyers & sellers, here’s a brief summary of how the pressure is calculated:
- We compute the total lengths of red & green candles for a given period, i.e. price range multiplied by the volume for that candle.
- Then the distribution of each type of candle is calculated.
- Assuming more red candles denote more selling pressure, and green candles denote buying pressure, the gauge is populated cell by cell.
- As the pressure on one side increases, the intensity of the cell color also increases, signifying the extent to which one side is dominating.
How to use it
- The indicator is designed as a pressure gauge that moves up(vertical alignment) or to the right(horizontal alignment) as the buying pressure increases, and moves down or to the left as the selling pressure increases. How it is to be used & applied, that completely depends on your trading methodology. But, the general idea is that we expect the market to be in a state of equilibrium, and if that is not the case the tool will highlight that, and this is also where the opportunity lies to find suitable trades.
- Just by having an idea about who’s dominating the market currently, a trader can also pick sides wisely. Remember, the market is always striving to come back a state of equilibrium, and a slight imbalance can indicate the current trend, and more importantly, who’s more likely to make the next move.
User Settings
The tool offers some minimal configurations for the end user:
- You can choose to display the actual percentage value in the gauge(Show Text).
- You can adjust colors that denote buyers & sellers.
- You can change the layout of gauge, default is vertical(right side of the screen).
- Last, and most important, you can adjust the number of candles to traverse for calculating the pressure. Default is 50, can go upto 1000.
Confined Range Candle FinderThis indicator finds candlesticks which are confined within the range of a previous candlestick. This indicates volatility contraction which often leads to volatility expansion, i.e. large price movements.
While every confined range will contain at least 1 inside bar, this indicator differs from the Inside Bar Finder which only finds consecutive inside bars.
This indicator includes options such as:
- The minimum number of candlesticks confined within the range of a previous candlestick to trigger the indicator
- Labels to indicate the number of confined candles
- Signal lines to indicate the high and low of the containing candlestick
Try out this indicator with different options on different timeframes to see if confined ranges increase the probability of identifying the direction of price movements. Breaks or closes outside signal lines can be used to trigger trade signals.
HTF Candles: 3x Multi-Timeframe Candle Boxes #Pip-Whisperer
- Modify 3 Timeframes to display Candle Boxes over your Chart
- Thats it.
- Enjoy!
- If anyone implements candlestick pattern detection to this before me, please send me link, that would be sick!
Rally HTF Candle (Candlestick Analysis) Guaranteed WinnersRally Candle will signal when price is at the end of a Rally to the upside and thus entering a balance phase in the market (works on all markets)
This candle works very efficient when the market is either trending downwards or in range markets where price is at resistance. (i would avoid in uptrends but depends on the trader)
Also we can expect this candle to form when price is overextended as the theory of this script is when there is a turning point in momentum - this candle will appear and we can look long from this signal.
This candle will only work in Swing High areas and appear when below an moving average which can be changed in the settings.
This candle will work only work pn the HTF as it provides very good rexpectancy whereas the LTF has a slightly less expectancy (i will be publishing an intraday Rally candle)
This candle can be alerted to signal the Rally Candle when the bar is confirmed and not during.
The way i trade this candle is
1) Candle signal must be in probably area to increase efficiency.
2) Enter on the second candle after candle IS CONFIRMED
3) Set stop loss below Rally Candle or use ATR value
4) Trade with the trend ie only Bearish price action
5) This candle can catch extreme points in the market ie this candle projected when ETH hit aths $4841
6) Trading with a confluence along with the Rally is better than solely trading this candle
Please leave a comment.
If we get to 100 likes i will publish the script.
Rally Candle (End Game ) 26/04/2022 Few Months ago I started wanted to code a candle which alerts me when a Rally may be over in Bearish Conditions and today I have created a candle which is 1. subjective but more importantly appears in areas where buying pressure is at either a climax or in the process of a decline and this is where the Rally Candle signals. This shows momentum may be shifting and these can provide some good entries.
They will only working when price is below the 200ema and in overextended markets - VERY IMPORTANT!!!
Works on all timeframe with HTF providing more price percentage than LTF
They aren’t a specific candle size however they will repaint when we see 4 higher close candles followed by a candle which has closed lower than the previous 4th.
//Candle Conditions
This candle has to be in a swing high area to be valid and on 1H and 6H but the 1H will repaint a lot of candles so when we have a point system of +20 we can assume this setup is a good setup.
//Candle Operators
You can change the color of the bar to your liking
There is a ema filter so if you want to candle to not show candles of the 50ema this operator will do the command.
Please post requests and any potential implementations I could port to pine script.
Hope you Enjoy :)
