Baha'i Reversal Points [CC]The Baha'i Reversal Points is a custom creation that combines some of my favorite passions, creating stock indicator scripts and my faith. The Baha'i Faith believes in the oneness of God and all religions, and sees the number 9 as significant because that is the number of major world religions as well as the Baha'i symbol is a nine-pointed star. The number 19 is also seen as significant because in the Baha'i calendar, there are 19 months, and each month is made up of 19 days. Anyway, with all that being explained, I created these reversal points to find the points where the last 19 highs or lows are higher or lower, respectively than the previous high or low nine days ago. As with many indicators, this does have some hits and misses but does a pretty good job of finding reversal points based on these criteria.
There are a few different ways to analyze this data to determine when to buy or sell. I have set the default behavior for when we encounter the first time that the amount of highs or lows is greater than or equal to the length amount using a crossover or crossunder alert. You could also ignore the crossover or crossunder alerts and buy when the count is greater than or equal to the length, which can happen for extended periods depending on the underlying trend. Overall, buy when the buy label appears and sell when the sell label appears.
Let me know if there are any other custom indicators or scripts you would like to see me publish!
Reversalpattern
Reversal Candles UG [5ema]The indicator can be find 8 reversal candlestick patterns of bullish or bearish.
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How to build?
Based on available reversal patterns that was be share by a group trader.
With name: T1, T1S, T2, T2S, T3, T3S, T3 Pro, T3 Max.
Ex1 - T1 Bull Candles and T3 Bull Candles:
Ex2 - T2 Bull Candles:
Ex2 - T1S Bull Candles:
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How to use?
Combine with other indicators like MA, EMA, RSI, Support, Resistance,... to set up a trading strategy.
Make a Alert to get a notification when a reversal candles appear.
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Japanese Candlestick Patterns💡 Japanese Candlesticks are a visual representation of price movements in financial markets. They were first developed by Japanese rice traders in the 18th century to analyze the price of rice contracts, and have since been adopted by traders across the world for a wide range of assets.
📌 A candlestick is composed of a rectangular body and two thin lines, known as wicks, that extend from the top and bottom of the body. The body represents the difference between the opening and closing prices of the asset during a specific time period, while the wicks indicate the high and low prices reached during that period.
📌 By using these and other candlestick patterns, traders can identify potential buying and selling opportunities and manage their risk accordingly. However, it's important to note that candlestick patterns should be used in conjunction with other technical and fundamental analysis tools to make well-informed trading decisions.
📌 Candlestick patterns are particularly useful because they are based on price action rather than external factors such as news or economic data. This makes them useful for traders who employ technical analysis, as they can use candlestick patterns to identify potential trading opportunities and manage their risk accordingly.
🚀 Candlesticks can be used to identify market trends, as well as potential buying and selling opportunities. By analyzing the patterns formed by multiple candlesticks, traders can gain insights into the behavior of the market and make informed trading decisions. Overall, Japanese Candlesticks are a powerful tool for technical analysis that can provide valuable insights into financial markets.
🔍 THE PATTERNS THAT ARE RECOGNIZED:
🔄 Reversal Patterns
* Counterattack Lines
* Dark-Cloud Cover
* Engulfing ( Bearish / Bullish )
* Hammer
* Hanging Man
* Harami ( Bearish / Bullish )
* In Neck
* On Neck
* Piercing
* Three Black Crows
* Thrusting
* Upside Gap Two Crows
⭐️ Stars
* Abandoned Baby
* Evening star
* Inverted Hammer
* Morning Star
* Shooting Star
🎯 Doji
* Doji
* Dragonfly Doji
* Evening Doji Star
* Gravestone Doji
* Long Legged Doji
* Morning Doji Star
🔥 Continuation Patterns
* Falling Three Methods
* Rising Three Methods
* Tasuki ( Upside / Downside )
🥊 Utility
* Long Lower Shadow
* Long Upper Shadow
❤️ Please, support the work with like & comment! ❤️
Price breakout and reversal [TCS] | PAThis indicator is designed to identify potential breaks and reversals in price movements for a financial instrument.
The indicator displays several elements to assist users in spotting specific market conditions:
1. High and Low Pivots : The indicator marks the highest and lowest points on the price chart within a customizable lookback period. These pivots represent important turning points in the price movement and serve as reference levels for potential breakouts and reversals.
2. Fair Value Line : A horizontal line is drawn at the midpoint between the high and low pivots. This line represents the "fair value" based on the recent price action. Traders may consider this level as a reference for evaluating the price's deviation from its average value.
3. Bullish Breakouts : When the closing price of the financial instrument crosses above the high pivot the indicator identifies a potential bullish breakout. This suggests a possible buying opportunity.
4. Bearish Breakouts : Conversely, a bearish breakout is identified when the closing price crosses below the low pivot. This may indicate a selling opportunity.
5. Fair Value Breakouts : In addition to regular breakouts, the indicator can detect breakouts based on the fair value line. If the closing price crosses above or below the fair value line, it may signal a fair value breakout, indicating the price's potential return to its average level.
6. Reversals : Reversal patterns are essential in technical analysis. The indicator identifies potential bullish and bearish reversals .
The indicator enhances its visual signals with geometric shapes (triangles and diamonds) placed above or below the price bars to represent different types of breakouts and reversals.
Moreover, the indicator can be configured to send alerts to the user when any of these specific events occur, helping traders stay informed and respond promptly to potential trading opportunities.
Please note that this code is for educational purposes only and should not be used for trading without further testing and analysis.
Reversion Zone IndexThe Reversion Zone Index (RZI) is an indicator that combines the Commodity Channel Index (CCI), Choppiness Index (CI), and Bollinger Bands Percentage (BBPct) to identify mean reversion signals in the market. It is plotted as an Exponential Moving Average (EMA) smoothed oscillator with overbought and oversold zones, and mean reversion signals are represented by red and green arrows.
The three indicators are combined to benefit from their complementary aspects and create a more comprehensive view of mean reversion conditions. Here's a brief overview of each indicator's benefits:
1. Commodity Channel Index (CCI): CCI measures the current price level relative to its average over a specified period. It helps identify overbought and oversold conditions, as well as potential trend retracements. By incorporating CCI, the RZI gains insights into momentum and potential turning points.
2. Choppiness Index (CI): CI quantifies the market's choppiness or trendiness by analyzing the range between the highest high and lowest low over a specific period. It indicates whether the market is in a trending or ranging phase. CI provides valuable information about the market state, which can be useful in mean reversion analysis.
3. Bollinger Bands Percentage (BBPct): BBPct measures the current price's position relative to the Bollinger Bands. It calculates the percentage difference between the current price and the bands, identifying potential overbought or oversold conditions. BBPct helps gauge the market's deviation from its typical behavior and highlights potential reversal opportunities.
The RZI combines the three indicators by taking an average of their values and applying further calculations. It smooths the combined oscillator using an EMA to reduce noise and enhance the visibility of the trends. Smoothing with EMA provides a more responsive representation of the overall trend and helps filter out short-term fluctuations.
The overbought and oversold zones are marked on the chart as reference levels. When the combined oscillator is above the overbought zone or below the oversold zone, it suggests a potential mean reversion signal. Red and green arrows are displayed to visually indicate these mean retracement signals.
The RZI is a valuable tool for identifying mean reversion opportunities in the market. It incorporates multiple indicators, each providing unique insights into different aspects of mean reversion, such as momentum, volatility, and price positioning. Traders can use this indicator to spot potential turning points and time their trades accordingly.
ReversalThe primary objective of this indicator is to discern candles that exhibit characteristics suggestive of potential market reversals through the application of candlestick analysis. Extensive observation across various assets and timeframes has revealed the existence of a recurrent reversal pattern. This pattern typically manifests as a sequence of one to three candles that abruptly diverge from the prevailing price action or trend, offering a distinctive signal indicating a potential reversal.
By leveraging the insights gained from this observation, the indicator aims to assist traders in identifying these noteworthy candle patterns that hold the potential to indicate significant market shifts.
The indicator operates as follows: initially, it identifies the lowest close (in the case of a bullish reversal) or the highest close (in the case of a bearish reversal) within a specified number of previous candles, as determined by user input (referred to as "Candle Lookback").
Next, the indicator examines whether the closing price surpasses the high of the previously identified lowest (bullish reversal) or highest (bearish reversal) closed candle within a designated number of candles, as specified by the user (referred to as "Confirm Within").
Turtle Soup IndicatorTurtle Soup Indicator plots a shape when we have a 20-period high or 20-period low.
Turtle Soup Setup
The Turtle Soup setup was published in the book Street Smarts by Laurence A Connors and Linda Raschke. You can learn about it there. It is a great setup for false breakouts or breakdowns in the group failure tests.
Going long
1) We have a new 20-period low
2) that must have occured at least four trading sessions earlier <- this is very important
Then we place a buy stop above 5-10 ticks or 5 to 10 cents above the previous 20-period low.
If filled immediately place a good til cancelled sell stop one tick or one cent below todays low.
Turtle Soup Plus One
Similar to above but occurs one day later. It should close at/below previous 20-period low.
Buy stop at earlier 20 day low. Cancel fi not filled on day 2.
Take partials within 2-6 bars on this one and trail stop rest of position.
Going short
Reverse
Time frames
Works on all timeframes. Only adjust stoplosses accordingly to chosen timeframe.
Settings
You can change the color, shape and placement of the indicator shape. I actually prefer a grey color for both highs and lows as the color actually doesn't add much information. The placement says it all but it is up to you to change this as you like.
Cold heart reversal with alertsThis will help you find reversal point pinpoint to its candle actually crossed the lowest or highest in the overbought and oversold zone (stochastic 9,3,3)
Various input parameters are defined . These inputs allow the user to customize the lookback period which is the number of candle before the low or high, Stochastic length.
User can also define their own high and low values that will plot on the chart.
It will be super convenient for traders who want confirmed price closed that is actually its significant point.
I used barstate confirmed in this code so you don't have to worry about repaint
Benner-Fibonacci Reversal Points [CC]This is an original script based on a very old idea called the Benner Theory from the Civil War times. Benner discovered a pattern in pig iron prices (no clue what those are), and this turned out to be a parallel idea to indicators based on Fibonacci numbers. Because a year is 365 days (nearly 377, which is a Fibonacci number), made up of 52 weeks (nearly 55, which is another Fibonacci number), or 12 months (nearly 13, which is another Fibonacci number), Benner theorized that he could find both past and future turning points in the market by using a pattern he found. He discovered that peaks in prices seemed to follow a pattern of 8-9-10, meaning that after a recent peak, it would be 8 bars until the next peak, 9 bars until after that peak for the next, and 10 bars until the following peak. For past peaks, he would just need to reverse this pattern, and so the previous peak would be 10 bars before the most current peak, 9 bars before that peak, and 8 bars before the previous one, and these patterns seemed to repeat. For troughs, he found a pattern of 16,18,20 which follows the same logic, and this idea also seemed to work on long-term peaks and troughs as well.
This is my version of the Benner theory and the major difference between my version and his is that he would manually select a year or date and either work backwards or forwards from that point. I chose to go with an adaptive version that will automatically detect those points and plot those past and future points. I have included several options such as allowing the algorithm to be calculated in reverse which seems to work well for Crypto for some reason. I also have both short and long term options to only show one or both if you choose and of course the option to enable repainting or leave it disabled.
Big thanks to @HeWhoMustNotBeNamed and @RicardoSantos for helping me fix some bugs in my code and for @kerpiciwuasile for suggesting this idea in the first place.
Reversal Points [CC]This original script was created based on a suggestion from @kerpiciwuasile. My original Reversal Points script was removed because I modeled it after an indicator by Demark, but this script will have no such issues. Reversal points are an exciting concept for me because it is such a useful tool when placing trades. This is my first attempt at a new overall layout for my script and I included a bunch of customization so let me know what you think.
My script works by finding lows that are surrounded by bars that have higher lows and highs that are surrounded by lower highs. I use this logic to find short term lows or highs and I use the same concept to find mid-term lows or highs but a mid-term high is a short term high surrounded by lower short term highs and a mid-term low is a short term low surrounded by higher short term lows. And of course this means that long term highs or lows use the same logic to find highs or lows that are surrounded by mid-term highs or lows. I would recommend to buy at the long term low points or sell at the long term high points.
Keep in mind of course that short term highs and lows are very common and reversal points will get rarer as you look for longer term reversal points. I would recommend to experiment and see which reversal points work best for you and of course, know that there is no magical formula to use for all stocks.
Also there are a few scenarios where you want to enable or disable the inside bar setting. You would want to ignore inside bars if the market is currently very volatile or if you are using this indicator on a crypto chart. This is not an exact science but more of a recommendation, so feel free to experiment with it.
Reversal points are crucial for traders as they signal a potential change in the market trend, providing opportunities for entry or exit.
In summary, this code snippet is a powerful tool for traders to detect and visualize reversal points on a trading chart, providing valuable insights into potential trend changes and facilitating more informed trading decisions.
Let me know if you would like me to publish other scripts or if you want me to do something custom for you!
2B Reversal Pattern (Expo)█ Overview
The 2B reversal pattern , also called the "spring pattern", is a popular chart pattern professional traders use to identify potential trend reversals. It occurs when the price appears to be breaking down or up and then suddenly bounces back up/down, forming a "spring" or "false breakout" pattern. This pattern indicates that the trend is losing momentum and that a reversal is coming.
In a bearish market , the "spring pattern" occurs when the price of an asset breaks below a support level, causing many traders to sell their positions and causing the price to drop even further. However, the selling pressure eases at some point, and the price begins to rebound, "springing" back above the support level. This rebound creates a long opportunity for traders who can enter the market at a lower price.
In a bullish market , the "spring pattern" occurs when the price of an asset breaks above a resistance level, causing many traders to buy into the asset and drive the price up even further. However, the buying pressure eases at some point, and the price begins to decline, "springing" below the resistance level. This decline creates a selling opportunity for traders who can short the market at a higher price.
█ What are the benefits of using the 2B Reversal Pattern?
The benefits of using the 2B Reversal pattern as a trader include identifying potential buying or selling opportunities with reduced risk. By waiting for the price to "spring back" to the initial breakout level, traders can avoid entering the market too soon and minimize the risk of potential losses.
█ How to use
Traders can use the 2B reversal pattern to identify reversals. If the pattern occurs after an uptrend, traders may sell their long positions or enter a short position, anticipating a reversal to a downtrend. If the pattern occurs after a downtrend, traders may sell their short positions or enter a long position, anticipating a reversal to an uptrend.
█ Consolidation Strategy
First, traders should identify a period of price consolidation or a trading range where the price has been trading sideways for some time. The key feature of the "spring pattern" is a sudden, sharp move downward/upwards through the lower/upper boundary of this trading range, often accompanied by high volume.
However, instead of continuing to move lower/higher, the price then quickly recovers and moves back into the trading range, often on low volume. This quick recovery is the "spring" part of the pattern and suggests that the market has rejected the lower/higher price and that buying/selling pressure is building.
Traders may use the "spring pattern" as a signal to buy/sell the asset, suggesting strong demand/supply for the stock at the lower/higher price level. However, as with all trading strategies, it is important to use other indicators and to manage risk to minimize potential losses carefully.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Bellcurves (Expo)█ Overview
Bellcurves (Expo) indicator helps traders identify potential tops and bottoms, and gauge market impulses. It provides a clear view of the market by filtering out the noise and highlighting only the relevant information. This makes it easier for traders to identify potential market reversals and key support and resistance levels. With Bellcurves, traders can quickly and easily spot important market impulses.
█ How is Bellcurve calculated?
The Bellcurves indicator achieves this by focusing on the distribution of price data, rather than the individual price points themselves. This approach removes the noise from the data and allows traders to see the underlying price moves more clearly.
█ How to use
The unique perspective that Bellcurves offers can be especially useful in highly volatile markets. By providing a clearer view of the market impulses, Bellcurves can help traders stay ahead of market movements and take advantage of potential reversal setups.
Find Reversals
The Bellcurves indicator shows price areas with a higher probability of a market reversal.
Take Profits
The Bellcurves indicator can be used to identify potential exit points. For example, traders can exit their position when the Bellcurve starts to turn.
Impulses
The height of the Bellcurve determines the strength of the price movement. The bigger the Bellcurve, the stronger the price move.
█ Additional Indicator Features
Pre-Bellcurves: This feature highlights when a Bellcurve is about to plot.
Oscillator mode: Traders can choose to display the Bellcurve as an oscillator.
Momentum Impulse: Displays green and red dots when the momentum gets strong.
Divergences: Highlights divergences between strong market impulses.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Reversal Pivot
Overview
Introducing the Reversal Pivot indicator - a tool for identifying potential reversal points in price. This algorithm takes into account multiple factors, including price action, volume, and pivot points, to give you a clear and accurate picture of where the market is heading to.
How it works
The indicator gets expansions and the highs and lows and uses the conditions along with pivots to determine whether a reversal is possible or not. Then it gets the volume to determine how strong this chance of reversal is.
How to use
The Reversal Pivot indicator alone shouldn't be used to find reversal points but it helps you get a clear insight on where possible reversals could happen for example, you could use it with mean reversion strategies to find the best entries.
Red bars signal a bearish reversal
Green bars signal a bullish reversal
This here is an example of a long entry if you are trading lets say the mean. You can wait for a bullish reversal on the Histogram plot and then enter, a reversal could happen.
This is an example of a short entry if you are also trading the mean.
Other features
This indicator allows you to customize the colors, and the histogram. If you don't like the histogram then you can change its plot style to whatever you would like.
Try the Reversal Pivot indicator today and find more possible reversal points!
GRIDBOT Scalper by nnamWhat is this Indicator used for?
Made specifically for GRID Bots
note: before continuing... this indicator works on any timeframe, but it WORKS BEST ON THE 15 MINUTE TIMEFRAME
Straters and Forex Master Pattern Value Line Traders use this to help determine when the price could reverse.
This indicator is a scalping indicator that produces signals when a "potential" reversal in price is indicated. When the price moves UP and a Potential Bearish Reversal Signal occurs, traders can use this signal as a potential SHORT entry signal for their Short Grid Bot. The process is the same in reverse. After a sustained move down, a Potential Bullish Signal can be used by the trader as a potential LONG entry signal for their GridBot.
As shown in the screenshot below, lines develop on the chart (either RED or GREEN) indicating that a sustained move in one direction is currently occurring; however, there is no potential reversal signal plotted (this means that price action is currently moving in one direction only).
As shown in the screenshot below, lines can be used as a stop-loss after entering the GRIDbot. (usually, by this time, the Grid Bot is in Profit as it usually moves in the opposite direction first)
What this Indicator Does
The GRIDBOT Scalper provides information regarding potential reversals in the market after a sustained movement in one direction (either Bullish or Bearish).
The indicator is based on PRICE-ACTION ONLY and does not take into account the current state of the market (Bullish or Bearish).
Once the price moves in a particular direction for at least 14 bars , a line appears as shown in a previous screenshot. Once the price stops moving in that direction and begins moving in the opposite direction - and after a sustained run - a "signal" appears alerting the trader that a "potential" reversal could be on the horizon soon.
If price moves in one direction and plots both a line and a signal and then begins moving back in the other direction in a sustained manner, the original signal will remain even when a NEW line begins forming (the original line will disappear). (see below) This line will continue to move as the price continues to move. Not until a signal plots on the chart is the potential reversal forming. THE LINE DOES NOT SIGNAL A REVERSAL . Some traders, however, use this information to "ride the wave UP or DOWN" and exit their positions once the signal prints.
As shown below, optional input settings allow the trader to set the line at CLOSE or HIGH/LOW of the candle preceding the potential reversal.
It is suggested to use Close instead of High or Low but the setting allows one to use either.
As shown in the screenshot below, it is typical on LOWER TIME FRAMES to see the price pass the signal line. The Indicator works best on the 15 minute timeframe, as it gives the trader time to make the decisions required as the volatility is less on the 15 minute chart vs the 1 minute or 5 minute charts.
If you have any questions or suggestions for this indicator, please join our Discord. We offer free training on this Indicator on our Discord Server.
1-2-3 Pattern (Expo)█ Overview
The 1-2-3 pattern is the most basic and important formation in the market. Almost every great market move has started with this formation. That is why you must use this pattern to detect the next big trend. In fact, every trader has used the 1-2-3 formation to detect a trend change without realizing it.
Our 1-2-3 Pattern (Expo) indicator helps traders quickly identify the 1-2-3 Reversal Pattern automatically. By analyzing the price action data, the indicator shows the pattern in real-time. When the pattern is discovered, the 1-2-3 Pattern (Expo) Indicator notifies you via its built-in alert feature! Catching the upcoming big move can't be that much simpler.
█ How to use
The 1-2-3 pattern is used to spot trend reversals. The pattern indicates that a trend is coming to an end and a new one is forming.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
MTFT Reversal Lines, TheStrat Suite (5of5)Multi Time Frame Tools
Multi Time Frame Tools (MTFT) is a suite of scripts aimed to establish a standard timeframe-based color scheme. This can be utilized to overlay different timeframes calculations/values over a single timeframe. As one example, this would allow to observe the 5-month moving average, 5-week moving average, and 5-day moving average overlaid over each other. This would allow to study a chart, get accustomed to the color scheme and study all these at the same time much easier.
All indicators calculated using the below specific timeframes as input, will always use the color scheme outlined below. This is to get you in habit of recognizing the different timeframes overlaid in top of each other. These can be personalized.
Longer TF analysis.
Yearly - Black
Semi-Annual - Yellow
Quarterly - White
Monthly - Maroon
Weekly - Royal Blue
Daily - Lime
Shorter TF analysis.
4 hour - Fuchsia
1 hour - Orange
30 min - Red
15 min - Brown
10 min - Purple
5 min - Lilac
All color coordination is able to be modified in either the “Inputs” or “Style” section. If you need to make changes, make sure to select “Save as Default” on the bottom right of the settings menu.
Recommended Chart Color Layout
I played around with color coordination a lot. The final product was what worked best for me. I personally use the following chart settings to accent all available TF colors.
-> Click on the settings wheel on your chart. -> Click on “Appearance”.
Background - Solid -> On the top row pick the 6th color from the left.
Vert Grid Lines and Horz Grid Lines -> On the top row pick the 7th color from the left.
You may of course change these and the indicator line colors as you like.
Adding indicator to Chart
-> Open the TradingView “Indicators & Strategies” library, the icon has “ƒx”. -> All premium scripts will be located under “Invite-Only Scripts” -> Click indicator to add to your chart.
MTFT TheStrat Suite (5 Scripts)
Rob Smith is the creator of ‘TheStrat’ trading strategy. For ‘TheStrat’ I have put together a suite of 5 premium scripts that combined will offer people interested in learning ‘TheStrat’ a cleaner learning process. For 2 of the 5 scripts specifically, the MTFT approach of overlaying multiple longer timeframes(TF) over a shorter TF selected as a display cannot be utilized. The other 2 scripts will have full MTFT functionality and they are my personal favorite. I will be providing very basic info to utilize this script; it is up to you to dive deep into learning this strategy. I am not an expert with the tool or a financial advisor. As with all aspects of life, I recommend you research, learn, discern and practice extensively in order to become a master.
1. MTFT Patterns Pro/Noob
2. MTFT Full Time Frame Continuity Table
3. MTFT Last HML wOpen
4. MTFT Actionable Signal Targets
*5. MTFT Reversal Lines
MTFT Reversal Lines, TheStrat Suite (5of5)
This script will plot the line at the point that the reversal was formed for multiple timeframes. Often times price retraces to these points before making more explosive moves in continuation of the reversal direction.
The script has the following features.
Six user selected time frames per script instance can be enabled/disabled. Timeframes include: Yearly(Y), Semi-annually(S), Quarterly(Q), Monthly(M), Weekly(W), Daily(D), 4 hour, 1 hour, 30 min, 15 min, 10 min, and 5 min. Image below shows the Weekly TF selected, and only the W, Q, M, and W are enabled. I’ve included some comments on basic observations.
2. Auto hide lower timeframe calculations. Auto Hide feature will hide smaller TF calculations when a larger timeframe is selected as the display TF. Example, when the Daily timeframe candlestick selected the 4 hour and smaller calculations are hidden because they produce irrelevant results relative to the selected timeframe. If a lower TF is selected such as the 30 min candlestick, the previously hidden timeframes are now displayed. This allows easier study as you change between displayed timeframes.
This script works best in conjunction with ‘MTFT Last HML Band wOpen’. In the image below I have the W candlestick selected, along with the Q HML Lines, and the Q Reversal Line shown. It shows you a clearer picture of how price moves on a TheStrat continuation CS and after a TheStrat reversal point is made. This lets you break into the fine details of what happened inside Quarter 1, 2022 and after the reversal point was formed.
IMPORTANT NOTE for TradingView admin: One of the lessons I would consider most important in attaining clarity regarding trading, is “TheStrat” by Rob Smith. His lesson on “actionable signals” is something that can be applied to any strategy. For this reason, I am including “MTFT TheStrat Patterns Pro” script in all images that will depict confluence for a better trade selection.
Example using TheStrat Pro MTFT with this indicator.
Look for a “TheStrat actionable signal” or a “TheStrat Reversal signal” on a smaller timeframe that has an instance of this indicator on a larger timeframe calculation that is in range of the candlestick that formed your actionable signal. This means that the indicators plot you are observing must be above the low and below the high of the candlestick that is the actionable signal/reversal signal. Image below shows what this would look like with this indicator.
The Image below shows what this would look like with this indicator. The selected candlestick is the 3-day, it shows a 2U-1-potential 2D Reversal pattern and the Quarter Reversal Down line in range. This actionable signal is meant to be played for SHORTS. If the low is breached, you would enter a SHORT position from the low of the inside candlestick. For targets you would look at the previous pivots, for this example all targets were hit. This won’t always play out so nice and clean, but given that there is so many stocks and so many signals this is just a thought to improve the quality of the signal as it has extra confluence.
The $trat | by Octopu$1️⃣2️⃣3️⃣ The $trat | by Octopu$
The $trat: The Strat by Octopu$
Absolute Solution for The Strat Traders!
The Strat is a Strategy created by Rob Smith's and is well known by being an innovative trading system.
Continues to grow in popularity as more traders discover this method.
It is a simplified way to understand Price Action. It is based on three principles: Types of candles, 1, 2, and 3.
Other things to be known about The Strat are Actionable Signals and Time Frame Continuity.
The $trat has it all.
This Indicator includes Bar Types (1, 2 and 3) also known as Inside Bars, Twos (Up or Down) and Outside Bars.
It is also well crafted with a built-in Time Frame Continuity (TFC) which shows Price Movement at a glimpse.
On top of that, in the best of both worlds, also comes with information about the Bars Status for other TFs as well.
It means that you can know how another TF of you preference is performing. Right there.
Works in Any Time Frame.
On Any Ticker.
(Using SPY 5m just as an example:)
www.tradingview.com
SPY
Features:
• Candle Types (1, 2 and 3) IB, 2U & 2D and OB.
• Time Frame Continuity (TFC) for Price Movement/Trend Check
• Bar Status shortcut. So you can know Price Action/Direction fast.
• Reversal indicators for Action-taking and Situational Awareness
• Combos Labels. So nothing ever goes unnoticed.
Options:
• Absolutely fully Customizable: Colors, Sizes, Numbers. Everything.
• On/Off Switches for most of the Information and Optionable Selections
• Hammer/Shooter Indicator automatically inserted to Chart
• Candle/Bars Coloring for ease of reading.
• Highlight options for specific setups
Notes:
v1.0
$trat Indicator release
Changes and updates can come in the future for additional functionalities or per requests.
Did you like it? Boost it. Shoot a message! I'd appreciate if you dropped by to say thanks.
- Octopu$
🐙
RSI Momentum Acceleration by TartigradiaPlots the momentum acceleration oscillators from price and RSI, rescaled and with areas above/below highlighted.
Usage: in a nutshell, when the background is yellow, it's bearish (RSI decelerates faster than price), whereas when the background is green, it's bullish (RSI accelerates faster than price). It appears to detect early some reversals that are otherwise difficult to detect.
Note: it supports using any other indicator's output as the second source input, instead of RSI. PineScript does not allow for more than one source to receive input from other indicators, all the others must only use price as an input.
This indicator uses the core routine to calculate Momentum Acceleration Oscillators by DGT:
This indicator is based on the idea of stinkbug : "RSI is a good momentum indicator showing how excited ppl are on a move, this is why divergences on it work so well. I would like to see the change accelerating or slowing on a move up or down.."
PivotThis library was designed to create three different datasets using Bill Williams fractals. The goal is to spot trends in reversal data and ultimately use these datasets to help predict future price reversals.
First, the pivot() function is used to initialize and populate three separate arrays (high pivot , low pivot , all pivots ). Since each high/low price depends on the bar_index, the bar_index, pivot direction(high/low), and high/low values are compressed into a string to maintain the data's integrity ("__"). Once each string array is populated and organized by bar_index, all three are returned inside a tuple. The return value must be deconstructed H,L,A =pivot() for each array's values to be accessed using getPivot() . This boilerplate allows for data to be accessed more efficiently in a recursive environment. getPivot() was designed to be used inside of a for or while block to populate matrices for further analyses. Again, getPivot() return values must be exposed through deconstruction. x,d,y =getPivot(). See code for more details.
pivot(int XLR) initializes and populates arrays
Parameters
XLR - number of bars to the left and right that must be lower for a high to be considered a pivotHigh, or vice versa. This number will drastically change the size and scope of the returned datasets. smaller values will produce much larger datasets, which might model short term price activity well. In contrast, larger values will produce smaller datasets which might model longer term price activity well.
Returns - tuple [string ]
getPivot(string arrayID, int index) accesses array data
Parameters
arrayID - the variable name for one of the three arrays returned by pivot().
index - the index of the provided array, with 0 being the most recent pivot point. can be set to " i " in a loop to access values recursively
Returns - tuple
Head and Shoulders - Quasimodo etc Pattern Recognition RENKODisclaimer: Only use this pattern recognition on a RENKO chart. Renko charts plot different than traditional candles and therefore do not represent all price moves. There is a possibility of repainting while using ATR based renko charts so past results are not a 100% accurate representation of future results. Use this indicator as a part of your strategy and not as your only means of obtaining gains in the market.
Hello traders, it has been said time and time again that algorithmic software is unable to identify complex market structure like head and shoulders, quasimodo, triangle patterns and other methods humans use to base their trading decisions on. With this indicator I intend to completely crush that assumption and prove that it actualy is possible. Ofcourse an indicator is less likely to find all variation on a chart pattern and a human is probably still your best bet in finding these patterns early.
That is wy this indicator does not only use textbook patterns and has 7 variation on head and shoulders build into it. I will keep updating this indicator if I see it missed some crucial patterns. Right now it has a total of 38 patterns build into it with them being grouped under specific names. Feel free to turn off any pattern you do not like to see.
Renko patterns solve the problem of time and chaos in the markets which have been the biggest hurdle in pattern recognition software as the amount of variations to account for is just too great a number. With this script using renko it will soon be able to identify any pattern in the market and I plan to add Wyckoff to it in the future, right now I have a beta version of Wyckoff build into it but planning to add better version of it in the future. The amount of variations on Wyckoff is quite extreme so it will take a very long time to get an optimised Wyckoff identification system.
If you do not want to miss patterns I recommend to use a multi chart aproach so that you can find patterns in multiple renko brick sizes at the same time to find more entrys.
Feel free to comment any pattern you want me to add and let's make the most dedicated pattern recognition software on this platform.
Regards
HonestCowboy
Smart PatternsHi Traders, and welcome to Smart Patterns.
Patterns can be very profitable, yet hard to trade, even when combined with other indicators and techniques. This script aims to increase the accuracy of signals by adding a statistical approach to candle patterns, along with tools to filter them.
For example, if the Success Rate is above a certain threshold, it means that the pattern has resulted in a higher ratio of profitable trades and hence it has a higher likelihood of succeeding in the current market conditions. However, should that pattern fall below the desired Success Rate, the script will "hide" it and won't trigger a signal, but still keeping track of its performance to start firing it again when coming back above the Success Rate.
Key Features
The script features custom patterns as well as some of TradingView's built-in patterns. Not all patterns can be added of course, but let me know if I missed other interesting ones and I will do my best to add them in future updates.
When a Pattern reaches the Min. Target % within the Candles Range selected, it is then considered valid. Please remember that doesn't take into account possible draw-downs or stop-losses.
Patterns are constantly evaluated inside the script; when a pattern's overall score (Success Rate %) is below the required minimum, the signal won't be triggered. However, the script will keep monitoring it in the background, and trigger a signal again when its score comes back above the minimum Success Rate.
The Patterns' signals can be filtered by Success Rate, Minimum Patterns detected and candle size (calculated via ATR).
The Data Panel will show individual statistics for Enabled Patterns as well as final statistics for Triggered Patterns.
Tooltips in the settings panel will further explain available options.
Alerts: simple alerts can be added by selecting "any alert() function call" when adding an Alert. Customizable alerts can also be created through dropdown menu ( Bullish \ Bearish Patterns Detected).
Fully customizable to adapt to light and dark themes
Notes and Recommendations
Always be realistic when tweaking settings, making sure the output makes sense in a normal trading environment. Statistics are helpful but shouldn't be the only factor to base your decisions on - even if a pattern reaches 100% Success Rate, it doesn't mean it will keep being profitable.
Since the script crunches quite some data it may give output errors especially if settings are not properly tweaked - or if the filters are too liberal (e.g. Min Target % set to 0.1) - hence triggering lots of signals. Please adjust the settings or enable only the Patterns you are trading.
If the script gives the error "Too many drawings, cannot clean oldest" it means your settings give too many signals and that is usually not a good sign - it's recommended to double-check your settings as mentioned above.
Credits
Trading View for built-in patterns
Special thanks go to PineCoders community for their incredible efforts and learning material to help mastering PineScript!
Modified morning and evening starsThis script highlights modified version of evening and morning star candlestick patterns. Volume has also been added in the script to create convergence of volume with price action.
It is recommended to use these patterns for positional trading. It is advised to use
Morning star at the bottom of the downtrend
Evening star at the top of the uptrend
Avoid entries against above recommendations
[astropark] SFP - Swing Failure PatternDear Followers,
today I'm glad to present you my Swing Failure Pattern Analyzer indicator.
As you know, the Swing Failure Pattern (SFP) is a very powerful candlestick pattern, because it highlights trend reversal points : if trend changes you want to know it, right?
This indicators highlights for you both Tops and Bottoms , that may be just local or historical.
To build this tool I mixed my experience on the field and some of the logic you can see in the following indicators of mine:
Pinbar that matters
Volume that matters
Volume Analyzer
This indicator works on every timeframe and market , it's quite responsive to market movements so it's especially good on volatile markets.
It is designed for fast day-trading / scalping , but as you trade on high timeframes is great for swing trades.
The indicator identifies candles that fall into the Swing Failure Patter category, but also candles other 4 categories of reversal candlestick pattern:
pinbar / hammer
hanged man
reversal by volume analysis
reversal by candle wicks analysis
Of course you can
customize colors
turn on or off what you prefer to see and what you don't
set alerts everything you see plotted
The indicator does NOT repaint of course.
This is a premium indicator , so send me a private message in order to get access to this script.
