Colorful Channelwhat is "Colorful Channel"?
it is a overbought - oversold indicator.
what it does?
It fills the area between the upper band of the channel and the price line with green, the area between the lower band of the channel and the price line with red color and applies a transparency to these colors according to the distance of the price from the channel lines. thus allowing users to get an idea of ??the current value of the price.
how it does it?
subtracts the percentage of the price from the lower channel from the transparency ratio of the red color, and the percentage of the price from the upper band from the transparency ratio of the green color. thus, a different transparency value is obtained for each percentile. In addition, the transparency rate can be changed with a multiplier determined by the users.
how to use it?
In the "lenght" section, you select the number of bars that the indicator will base backwards on. For example, if length=100, the indicator determines the upper and lower bands according to the distances from the highest and lowest values ??within 100 bar. so the length part works like donchian channels.
You can change the transparency ratio of the colors in the "transp" section.
1 saat transp
yan trend
4 saat
Wyszukaj w skryptach "donchian"
SSL Hybrid by gigazPerfect for scalping crypto timeframe 1M, 3M, 5M
to use with TrendMeter and Donchian Trend Ribbon to avoid false signals
it takes alert from a lot of pairs, you have only to adjust your tick timeframe
BB-EMA-MAWikipedia: Bollinger Bands are a type of statistical chart characterizing the prices and volatility over time of a financial instrument or commodity, using a formulaic method propounded by John Bollinger in the 1980s. Financial traders employ these charts as a methodical tool to inform trading decisions, control automated trading systems, or as a component of technical analysis. Bollinger Bands display a graphical band (the envelope maximum and minimum of moving averages, similar to Keltner or Donchian channels) and volatility (expressed by the width of the envelope) in one two-dimensional chart.
If you set Type = 2 then it will use EMA average for Bollinger bands .
If you set Type = 1 then it will use MA average for Bollinger bands .
Default settings is moving average with period 50
When price move to standard Deviation (std) +2 and std +3 is signal for sell ( selling zone)
When price move to standard Deviation (std) -2 and std -3 is signal for sell ( buying zone)
lib_hlmLibrary "lib_hlm"
Ichimoku trend line and plotting tools.
HLM(Period)
Optionless Ichimoku/Donchian trend line calculation.
Parameters:
Period : The period for the trend line calculation.
Returns: The midpoint of the highest high and the lowest low.
HLM_Offset(offset, currentIsZero, intoPast)
Standardized language for plotting offsets.
Parameters:
offset : The offset number to use.
currentIsZero : `true` for ichimoku counting. `false` for natural language
intoPast : `true` if projecting backwards. `false` if projecting forwards.
Returns: The offset adjusted by counting style and direction.
TK()
Calculates the Ichimoku Tenkan and Kijun lines.
Returns: {tenkan, kijun}
SenkouSpans(period_1, period_2, period_3)
Calculates the Ichimoku Senkou Span A and Senkou Span B values.
Parameters:
period_1 : default=9
period_2 : default=26
period_3 : default=52
Returns: {senkou_a, senkou_b}
Ichimoku_Cloud(period_1, period_2, period_3)
Calculate the Ichimoku cloud value and offsets.
Parameters:
period_1 : default=9
period_2 : default=26
period_3 : default=52
Returns: {senkou_a, senkou_b, cloud_offset}
Chikou_Span()
Gets the chikou span and offsets.
Returns: {chikou, chikou_offset}
Ichimoku(enabled)
Get the values for the full, default Ichimoku system, including plotting offsets. Common toggle for all values.
Parameters:
enabled : `true` will return plottable values. `false` will return only na's (turns off plotting).
Returns: {tenkan, kijun, senkou_a, senkou_b, cloud_offset, chikou, chikou_offset}
Ichimoku_Line_Colors()
Get a set of colors with a common transparency for Ichimoku.
Returns: {tenkan_color, kijun_color, senkou_a_color, senkou_b_color, chikou_color}
Ichimoku_Cloud_Color()
Determines the cloud color and applies transparency (Ichimoku).
Returns: the dominant lines color with applied transparency
Ichimoku_Colors()
Gets a full set of default ichimoku colors with cloud color based on the input senkou values.
Returns: {tenkan_color, kijun_color, senkou_a_color, senkou_b_color, chikou_color, cloud_color}
RedK Chop & Breakout Scout (C&B_Scout)The RedK Chop & Breakout Scout (C&BS or just CBS) is a centered oscillator that helps traders identify when the price is in a chop zone, where it's recommended to avoid trading or exit existing trades - and helps identify (good & tradeable) price breakouts.
i receive many questions asking for simple ways to identify chops .. Here's one way we can do that.
(This is work in progress - i was exploring with the idea, and wasn't sure how interesting other may find it. )
Quick Intro:
==================
Quick techno piece: This concept is similar to a Stochastic Oscillator - with the main difference being that we're utilizing units of ATR (instead of a channel width) to calculate the main indicator line - which will then lead to a non-restricted oscillator (rather than a +/- 100%) - given that ATR changes with the underlying and the timeframe, among other variables.
to make this easy, and avoid a lot of technical speak in the next part, :) i created (on the top price panel) the same setup that the C&B Scout represents as a lower-panel indicator.
So as you read below, please look back and compare what C&BS is doing in its lower panel, with how the price is behaving on the price chart.
how this works
========================
- To identify chops and breakouts, we need to first agree on a definition that we will use for these terms.
- for the sake of this exercise, let's agree that the price is in a chop zone, as long as the price is moving within a certain distance from a "price baseline" of choice ( which we can adjust based on the underlying, the volatility, the timeframe, the trading style..etc)
- when the price moves out of that chop zone, we consider this a breakout
- Now not all breakouts are "good" = they need to at least happen in the direction of the longer term trend. In this case, we can apply a long Moving Average to act as a filter - and consider breakouts to be "good" if they are in the same direction as the filter line
- With the above background in mind, we establish a price baseline (as you see on the top panel, this is based on the midline of a Donchian Channel - but we can use other slow moving averages in future versions)
- we will decide how far above/below that baseline is considered to be "chop zone" - we do this in terms of units of Average True Range (ATR) - using ATR here is valuable for so many reasons, most of all, how it adjusts to timeframe and volatility of underlying.
- The C&B Scout line simply calculates how far the price is above/below the baseline in terms of "ATR units". and shows how that value compares to our own definition of a "chop zone"
- so as long as the price is within the chop zone, the CBS line will be inside the shaded area - and when the price "breaks out" of the chop zone, the CBS line will also breakout (or down) from the chop zone.
- C&B Scout will give a visual clue to help take trades in the direction of the prevailing trend - the chop zone is green when the price is in "long mode", as in, the price is above the filter line - and will be red when we are in "short mode" - so the price is below the filter line. in green mode, we should only consider breakouts to the upside, and ignore breakouts to the downside (or breakdowns) - in red mode, we should only consider breakouts to the downside., and ignore the ones to the upside.
- i added some examples of "key actions" on the chart to help explain the approach here further.
Usage & settings Notes:
========================
- even though for many traders this will be a basic concept/setup, i still highly suggest you spend time getting used to how it works/reacts and adjusting the settings to suit your own trading style, timeframe, tolerance, what you trade....etc
- for example, if i am a conservative trader, i may consider any price movement within 1 x ATR above and below the baseline to be in "chop" (ATR Channel width = 2 x ATR) - and i want to only take trades when the price moves outside of that range *and* in the direction of the prevailing trend
- An aggressive trader may use a smaller ATR-based value, say 0.5 x ATR above/below the baseline, as their chop zone.
- A swing trader may use a shorter filter line and focus on the CBS line crossing the 0 line.
- .... and so on.
- Also note that the "tradeable" signal is when the CBS line "exits" the chop zone (upward on green background, or downward on red background) - however, an aggressive trader may take the crossing of the CBS line with the 0 line as the signal to open a trade.
- As usual please do not use this indicator "in isolation" and ensure you have other confirming signals from your setups before trading.
conclusion
===========
As i mentioned, this is really a simple concept - and i'm a big fan of those :) -- and there's so much that could be done to expand around it (add more visuals/colors, add alerts, add options for ATR calculation, Filter line calculations, baseline..etc) - but with this v1.0, i wanted to share this initially and see how much interest and how valuable fellow traders find it, before playing any further with it. so please be generous with your comments.
Relative Bandwidth FilterThis is a very simple script which can be used as measure to define your trading zones based on volatility.
Concept
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 Channel or Donchian Channel. Length of the bandwidth need to be ideally higher.
ATR is calculated using built in ATR method and ATR length need to be ideally lower than that used for calculating Bandwidth.
Once we got Relative Bandwidth, the next step is to apply Bollinger Band on this to measure how relatively high/low this value is.
Overall - If relative bandwidth is higher, then volatility is comparatively low. If relative bandwidth is lower, then volatility is comparatively high.
Usage
This can be used with your own strategy to filter out your non-trading zones based on volatility. Script plots a variable called "Signal" - which is not shown on chart pane. But, it is available in the data window. This can be used in another script as external input and apply logic.
Signal values can be
1 : Allow only Long
-1 : Allow only short
0 : Do not allow any trades
2 : Allow both Long and Short
Volume Spread for VSA CustomHey everyone, I have been using volume a lot more lately as price action can sometimes get manipulated but volume shows us the truth!
Anyways, I have enjoyed the Volume Spread for VSA indicator but wished I had the code to change a few settings. This volume indicator includes spread analysis with the ability to customize input values and I'm making it open source so you can do with it as you please.
I have made notes all throughout the code to give suggestions on a few changes or why I have written it in such a way. I have also tried to section everything off to make it easier to see where each piece of the code is used. Overall I think it is a good example of how to code cleanly and how to add useful notes when you are learning Pine for yourself :D
The indicator on the price chart is my Donchian Channel indicator, which you can also find on my profile. This is the one I use every day.
All-in-one CPR indicator Introduction and Acknowledgement:
The script is basically a mashup script and provides a combined functionality of various indicators. I'll explain the usefulness and the optimal usage of the script after giving the credits where it is due. A CPR indicator for visually identifying the trend along with the strength of the trend is NOT available in the public library of TradingView. Hence, the need of this indicator.
The credit of creating the original indicators remain unknown to me but I would like to acknowledge the authors whose formulae and codes I have used for creating this mashup indicator.
- Frank Ochoa
- Guruprasad Meduri
- Rafael Zioni
- Stoked Stocks
- Pine team for default indicators
The prime focus of the script is identifying and simplifying the 2 main aspects of a trend:
1. Direction / Underlying trend
2. Strength of the trend
Flaws in traditional CPR:
Some may see this as a flaw, some may not. So take my opinion with a grain of salt. In general, the traditional CPR indicator is used to plot just support and resistance levels, and the trend identification is purely discretionary. In addition to this, there is no way to assess the strength of the move without using a dedicated volumed based indicator. This causes amateur traders to take counter trades to the market direction.
What is the need of this hybrid indicator?
A CPR indicator that also aids in visually identifying the trend and the strength of the trend with respect to the price action in NOT available in the public library of TradingView. The traditional CPR can be used to assess the rough direction of the market but if it combined with the Hull ribbon, the probability of identifying the trend increases manifold. Hence, I decided to create this mashup indicator.
In addition to the basic CPR pivots, the script provides the functionality of the following indicators:
1. HMA based trend ribbons with auto buy/sell signals
2. Volatility based bands - Bollinger bands, Keltner channel, Donchian channel, envelope.
3. Coloured volume candles to determine the strength of the trend
4. CPR with daily, weekly, and monthly levels
5. Previous day high/low
6. Tomorrow CPR
7. 3 Simple moving averages
8. Volume Weighted Average Price (VWAP)
Correct usage of the indicator:
The optimal usage of the indicators consists of mainly 2 parts:
1. Identification of the trend using the combination of CPR and Hull ribbon
2. Determining the strength of the trend
How to identify the trend?
In general, when the price is above CPR it is considered a bullish trend. Also, when the price is above the Hull ribbon, it is considered bullish. Reverse is true for a bearish trend. Combining the traditional CPR logic with the Hull trend ribbon, we can conclude that:
1. Bullish trend = Price above CPR and above the Hull ribbon
2. Bearish trend = Price below CPR and below the Hull ribbon
If the Hull ribbon is showing a zig-zag move, the trend will be sideways. Also, the time frame of the Hull ribbon can be defined as per the need of the user.
Exhibit: Identification of a bullish trend
Exhibit: Identification of a bullish trend with a contra move (pullback)
Exhibit: Identification of a bearish trend
Exhibit: Identification of a bearish trend with a contra move (pullback)
How to determine the strength of the trend?
1. Strong trend = The dark coloured candles represent volume more than 150% of the look back period. For instance
2. Moderate trend = The bright coloured candles represent volume between 50-150%.
3. Neutral trend = The Grey coloured candles represent a weak trend where the volume is less than 50%.
Exhibit: Identification of a strong bearish trend along with the trend direction
Exhibit: Identification of a strong bullish trend using only coloured candles
All the other indicators including the SMA, VWAP, Bollinger bands, Keltner channels, etc. can be used as per the taste of the trader.
Thanks for reading! I hope you find this indicator useful.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Fibonacci Zone DCA Strategy - R3c0nTraderCredits:
Thank you "eykpunter" for granting me permission to use "Fibonacci Zones" to create this strategy
Thank you "junyou0424" for granting me permission to use "DCA Bot with SuperTrend Emulator" which I used for adding bot inputs, calculations, and strategy
Pre-requisites:
You can use this script without a 3Commas account and see how 3Commas DCA Bot would perform. However, I highly recommend signing up for their free account, going through their training, and testing this strategy with a paper bot. This would give you a base understanding of the settings you will see in this strategy and why you will need to know them.
What can this do?
First off, this is a Long only strategy as I wrote it with DCA in mind. It cannot be used for shorting. Shorting defeats the purpose of a DCA bot which has a goal that is Long a position not Short a position. If you want to short, there are plenty of free scripts out there that do this.
I created this script out of curiosity and I wanted to see how a strategy based on “Fibonacci” levels would work with a 3Commas DCA bot. I came across "eykpunter’s" "Fibonacci Zones" study and in TradingView and I found it to be a very interesting concept. The "Fib Zones" in his study are basically a "Donchian Channel" of 4 Fibonacci lines. These are the High @ 0.236, Center High @ 0.382, Center Low @ 0.618, and Low @ 0.764.
The Fib Zones in this strategy can be used as conditions to open a trade as well as closing a trade. There is also the option to close a trade based on a Target Take Profit (%).
Advanced Fibonacci trading is also supported by specifying additional parameters for Trade Entry and Exit.
For example, for order entry, you can increase the minimum trend strength to open an order via the "minimum ADX value" option. You can also further limit order entry by selecting the option to "Only open trades on bullish +DI" (Positive Directional Index).
Or you can play the contrarian. For example, I would look for "buying the dip" opportunities by doing the following under "Trade Entry Settings":
Set the "Min ADX value to open trade" to zero
Set the option "Open a trade when the price moves" to "1-To the bottom of Downtrend Fib zone" or "2-Higher than the top of the Downtrend Fib zone"
Uncheck option "Only open trades on bullish +DI"
Set the 'Min ADX value to open trade' to Zero
Set the 'Max +DI value to open trade' to a value between 10-20.
For Trade Exit settings, I can use a "Target Take Profit (%)" or one of the High Fib levels to close the trade.
Here's an example result when using a Contrarian-Fibonacci-Zone-DCA strategy:
Explanation of Chart lines and colors on chart
Six Options for Entering a Fibonacci Trade
Open a trade when the price moves:
1-To the bottom of Downtrend Fib zone
2-Higher than the top of the Downtrend Fib zone
3-Higher than the bottom of Ranging Fib Zone
4-Higher than the top of Ranging Fib Zone
5-Higher than the bottom of Uptrend Fib Zone
6-To the top of Uptrend Fib Zone
Three Options for Exiting a Fibonacci Trade
Take profit using:
"Target Take Profit (%)"
"High Fibonacci Border-1"
"High Fibonacci Border-2"
Fibonacci Zone Oscillator With MACD HistogramThe columns
After I found a way to calculate a price as a percent of the middle line of the KeltCOG Channel in the KCGmut indicator (published), I got the idea to use the same trick in the Fbonacci Zone Channel (also published), thus creating an oscillator.
I plot the percent’s as columns with the color of the KeltCOG Channel. Because the channels I created and published (i.e. Fibonacci Zone, Donchian Fibonacci Trading Tool, Keltner Fibzones, and KeltCOG) all use Fibonacci zones, this indicator also reports the position of the close in their zones.
Strategy and Use:
Blue column: Close in uptrend area, 4 supports, 0 resistance, ready to rally up.
Green column: Close in buyers area, 3 supports, 1 resistance, looking up.
Gray column: Close in center area 2 supports, 2 resistances, undecided.
Yellow column: Close in sellers area 1 support, 3 resistances, looking down.
Red column: Close in downtrend area, 0 support, 4 resistances, ready to rally down.
I use this indicator in a layout with three timeframes which I use for stock picking, I pick all stocks with a blue column in every timeframe, the indicator is so clear that I can flip through the 50 charts of my universe of high liquid European blue chips in 15 minutes to make a list of these stocks.
Because I use it in conjunction with KeltCOG I also gave it a ‘script sets lookback’ option which can be checked with a feedback label and switched off in the inputs.
The MACD histogram
I admire the MACD because it is spot on when predicting tops and bottoms. It is also the most sexy indictor in TA. Actually just the histogram is needed, so I don’t show the macd-line and the signal line. I use the same lookback for the slow-ma as for the columns, set the fast-ma to half and the signal-line to a third of the general lookback. Therefore I gave the lookback a minimum value of 6, so the signal gets at least a lookback of 2.
The histogram is plotted three times, first as a whitish area to provide a background, then the colums of the Fibzone Oscillator are plotted, then the histogram as a purple line, which contrasts nicely and then as a hardly visible brown histogram.
The input settings give the option to show columns and histogram separate or together.
Strategy and use:
I think about the columns as showing a ‘longer term chosen momentum’ and about the histogram as a ‘short term power momentum’. I use it as additional information.
Enjoy, Eykpunter.
Greedy MA & Greedy Bollinger Bands This moving average takes all of the moving averages between 1 and 700 and takes the average of them all. It also takes the min/max average (donchian) of every one of those averages. Also included is Bollinger Bands calculated in the same way. One nice feature I have added is the option to use geometric calculations for. I also added regular bb calculations because this can be a major hog. Use this default setting on 1d or 1w. Enjoy!
ps, I call it greedy because the default settings wont work on lower time frames
.b dual dynamic SRThis is dual band dynamic S/R indicator
It works on longger swing than BB 20,2 band rage, and I think It works well.
even on the rapid price change, it quite woks well.
If price goes out of 1st S/R band range, 2nd S/R band shows up on the chart.
Because of large bandwidth, An area in which an actual candle is drawn may be displayed as small.
So, with some codework, I made the S/R band occupy only the area near the actual candle drawing area.
The S/R band value is calculated as a combination of donchian band, high/low, atr, etc.
and regular default setting value is fixed on the code level. you can change the color set.
For more information, please refer to the source code.
if you have any questions freely contact to me by message on tradingview, or telegram @sr_bt
but please understand that responses may be quite late.
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Special thanks to all of contributors of community.
The script (originaly .b) may be freely distributed under the MIT license.
without a clear understanding of the house rules,
Several indicators on the charts, it should be clean chart on publishing.
So I am re-publishing as a new one, sorry about that.
.b pin-up symbolWhen trading cryptocoins, it is necessary to check the price trend of NASDAQ, BTC.D, BTC.OI, BTC spot or other coins of similar groups.
However it is very cumbersome to put a comparison symbol in the Tradingview chart and combine individual indicators one by one.
Moreover even with such a combination, the chart is messy and visibility is not good.
This script was developed as a composite-solution to that situation, and will make you happy.
- NQ1!, USTECH100CFD | symbol fixed
- BTC.Dominance, BTC.OpenInterest, BTC symbol, others pin-up-symbol | selectable
- Pin-up-symbol | selectable
- Pin-up-symbol's candle chart
- Trending
* EMA 9,21,50,200 ribbon classic EMA
* .b price line ; .b price = unique trending price with price-action + relative-volume-action + ATR
* Dynamic S/R Cloud ; BB + donchian band + high/low + atr mixed custom-logic
* VWWMA + .b price Shadow ; Volume-weighted WMA on .b price = unique MA faster than classic VWMA
Trending shadow direction is not bad even on low-timeframe (1, 2, 3, 5m, 15m...)
- Pattern
* Harmonic Pattern ; A simplified version of the harmonic pattern indicator, simply show-up pattern complete position
for reference only - adopted from HeWhoMustNotBeNamed's script.
- Information Panel
* BTC Dominance, BTC Open Interest, Pin-Up-Symbol price
* Trend meter ; 5,15,30,1h,2h,4h Meter Calc with 1 minute-timeframe candles
5 = Green if the current price is higher than the price 5 minutes ago.
1h = Green if the current price is higher than the price 2 hours ago.
4h = Red if the current price is lower than the price 4 hours ago.
* caution ; To use real-time chart of "CME_MINI:NQ1!" you have to additional subscribe CME data,
default setting is 'NQ1!' , you can change to 'USTECH100CFD'
* When you choose symbol which is closed trading hours, the script's update stopped.
Even if the selected pin-up-symbol is on trading hours, the currently selected symbol's chart doesn't update.
* recommended | chart setting > Appearance : Top margin 0%, Bottom margin 0% for optimized screen usage :)
if you have any questions freely contact to me by message on tradingview, or telegram @sr_bt
but please understand that responses may be quite late.
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copyright 2022 (sr_b)
Special thanks to all of contributors of community.
The script (originaly .b) may be freely distributed under the MIT license.
The other classic script code also may be freely distributed under the MIT license.
Simplified Harmonic script part | core adopted from 'Multi ZigZag Harmonic Patterns (HeWhoMustNotBeNamed)' MPL2.0 license
Guppy WavesA lightweight version of the popular "Moving Average Ribbon" or "Guppy" indicators where the visuals are plotted as "waves" rather than moving average lines. As is customary for my indicators, nearly everything about it is user selectable.
Visual Features:
User Customizable Colors
RSI-Based Rainbow Color Scheme
Simple Offset for adjusting transparency
Create great-looking charts very easily
Moving Average Options:
Running (SMoothed) Moving Average (RMA or SMMA ) - very slow/smooth
Simple Moving Average ( SMA )
Exponential Moving Average ( EMA )
Weighted Moving Average ( WMA )
Volume-Weighted Moving Average ( VWMA )
Triple EMA ( TEMA ) - very fast
Exponential Hull Moving Average (EHMA) - Hull with Smoothing (Slower than Hull)
Least Squares Moving Average ( LSMA ) - Simple Linear Regression
Arnaud Legoux Moving Average ( ALMA ) - Adjustable, set offset=1 to be current, offset=0.85 for good smoothing
Hull Moving Average ( HMA ) - very fast
Tillson T3 - very smooth
Donchian Moving Average - plots the average of (lowest, highest) for a given period length
The user can change the source, period, and type of moving average used for every single line on the chart.
Supertrend Channels [LuxAlgo]The Supertrend is one of the most used indicators by traders when it comes to determining whether the market is up-trending or down-trending.
This indicator is displayed as a trailing stop, showing a lower monotonic extremity during up-trends and an upper monotonic extremity during down-trends. Today we propose a channel indicator based on the Supertrend trailing stop using trailing maximas/minimas.
Settings
Length: Atr length used by the Supertrend indicator.
Mult: Multiplicative factor for the Atr used by the Supertrend indicator.
Usage
The ability of the indicator to show an up-trend or down-trend is the same as the Supertrend, with rising channels when an up-trend is detected by the Supertrend and declining channels when a down-trend is detected by the Supertrend.
The look of the channels can remind of the Donchian channels indicator, and as such a similar usage can be appropriate. The extremities can for example be used as supports and resistances.
Additionally, the channel's average can be used to filter out noisy variations in the price while keeping a good distance from the price.
Money Maykah -- DC-ATR , Stochastic RSI signals v.1-89 --This indicator shows the Stochastic RSI (SSRI) for overbought when the Donchian Channel (DC) is in the upper zone (between basis and upper), and SSRI for oversold when the DC is in the lower zone.
The DC upper and lower have a percentage of the ATR added I call this DC-ATR.
There can be numerous ways to form a strategy based on this. For a bull trend, an ABCD could be traced by A/C = blue signals and B/D = red signals.
Let me know what you think or if there is something wrong with the code. It's probably not the cleanest or more efficient but I am not a pro. If you find a good way to make a strategy from the indicator let me know.
Hope you enjoy!
-Casey R
Volatility ChannelThis script is based on an idea I have had for bands that react better to crypto volatility. It calculates a Donchian Channel, SMMA-Smoothed True Range, Bollinger Bands (standard deviation), and a Keltner Channel (average true range) and averages the components to construct its bands/envelopes. This way, hopefully band touches are a more reliable indicator of a temporary bottom, and so on. Secondary coloring for strength of trend is given as a gradient based on RSI.
S and R (618-382)This script is based on Donchian channels.
It uses tree periods, 17, 72 and 305. You can also change it to 72, 305 and 1292.
The indicator calculates the channel and the 618 and 382 levels inside the channel.
If the price is above the level 618 then a support line apears indicating it with a light color.
if the price is under the level 382 then a resistance line apears indicating it with a dark color.
the small channel is Lime / Green
the medium channel is Yellow / Orange
the big channel is Red / Maroon.
Above all light colors a trend up.
under all dark colors a trend down.
+ Awesome OscillatorHi again. I have another indicator that I think is pretty neat.
I had the idea of creating an Awesome Oscillator for my Ultimate MA, just to see what kind of signals it might produce. If you're not familiar with my UMA you should go take a look at it, but essentially it is just an average of eight different length MAs, and if you're not familiar with the Awesome Oscillator, it is simply a comparison of the gap between two different moving averages (traditionally a 5 and 34 SMA) plotted as a histogram below the price chart. The two UMAs I was comparing in this version of the AO were the Hull and Simple. It looked okay, but I thought due to the nature of the movements of these MAs, that it was necessary to add something to this indicator in order to validate its creation and make it truly useful
I came to the idea of simply comparing the closing price of the asset on the chart to both the Awesome Oscillator moving averages. What this effectively does is gives you a representation of the moving averages on the chart (assuming you are using those same MAs) as an oscillator below the chart, enabling you to remove the moving averages from your price chart (obviously if you so choose). For me, I like this because fewer things on the chart makes it easier for me to see the price action and structure of the market clearly, or add something like a tWAP or two.
So, like, "how exactly would I use this indicator?"" you're probably asking.
First off: the Awesome Oscillator. By default it is a faintly shaded area, and is the least obvious part of the indicator.
Second: the plotted line. This is what I call the baseline (if you're familiar with NNFX, then you know what this is). It's basically your bias moving average (this means it defines, based on its lookback or length, whether momentum is bullish, bearish or ranging). In the case of the oscillator though, the ZERO line represents the baseline, and the oscillating line represents price in relation to it. If the line is above the zero line then price is above the moving average, and vice versa if it's below. The farther from the center line the baseline price is the greater the volatility,
Third: the histogram. This is the faster moving average, and same rules apply to it as your baseline. You can think of your fast moving average as a trade entry trigger, or an exit. It shows more immediate momentum shifts.
What's interesting about the relationships of all three of these things is that you don't actually NEED all three displayed. Because the Awesome Oscillator is a relation of your two moving averages, and the baseline and histogram are representational of the price relative to those two moving averages, you will notice that when the histogram (fast MA) flips up or down is the same exact time that the baseline price dips into the AO. The AO is effectively a moving average on that. So you can run this with just the AO and Baseline, or just the Baseline and fast MA histogram. To get started, I might recommend keeping your moving averages that you use on the chart just so you can see how this indicator works.
Both the fast MA and Baseline will show nice divergences (divergence indicator is added if you want to use it). And I've added Donchian Channels as upper and lower bounds that act neatly as support or resistance (especially effective if you're using my UMA with Bollinger Bands, or Magic Carpet Bands).
I've also done the usual colored candles thing, which gives you another great reason to get the moving averages off your chart. There are of course alerts for conditions that one might need to be alerted to as well.
Below are some images of different ways you might set these up using the default moving average/baseline settings. In all of these I've left the moving averages on the price chart (with the addition of a 233 SMA) so you can see the relationship between the indicators.
Right here is the indicator set up with just the awesome oscillator and baseline price. Gives a cleaner overall look. You can see that every time the baseline crosses the awesome oscillator is when price crosses the 8 SMA. Candle colors are based on if candle closes above baseline or below.
This is the indicator set up without the awesome oscillator. Here you can see candle closes over the 8 SMA (fast moving average) are shown by the histogram. Candle coloring is still the same as the above image.
This image looks identical to the first, except that the candle coloring is different. This time it is based on the 8 SMA (same as the baseline entering the awesome oscillator).
And the final example image. This one depicts the awesome oscillator and the fast moving average histogram. Candle coloring is based on the awesome oscillator. This can be a great way to visualize momentum because the awesome oscillator is depicting the crossing of the moving averages. A lot of people poo-poo moving average crosses, but I'd say they're wrong. Well, they're right and wrong. Depends on the MAs you're using. The power in moving average crosses is in their ability to show bullish or bearish momentum (or ranging behavior if they continually cross over each other). If you're using slow moving averages, then crosses are often very late (hence so many people who don't know saying, "but moving average crosses are too laggy". Here you might try changing these and having the baseline be faster than the UMA, and actually plot on chart the UMA (or some other moving average). These are just some thoughts.
Anyway, I hope this indicator proves useful to you all. I think for anyone looking to look at price action a bit more, but is used to using moving averages, this could be a really useful indicator. Most oscillating indicators (if not all) are built around moving averages, but they're never explained in such a way as I'm explaining how this one works (I don't think). I think knowing this could help many traders come to a deeper understanding of what the indicator they're using is actually doing.
KCGmut“KCGmut” stands for “Mutations Of Keltner Center Of Gravity Channel”.
After adding the ‘KeltCOG Width’ label to the KeltCOG, I got the idea of creating a subpanel indicator to show the development of the width-percent in previous periods. After some more thinking, I decided that the development of the COG-width-percent should also be reported and somehow the indicator should report whether the close is over (momentum is up), in (momentum is sideways) or under (momentum is down) the COG ( This is the gray area in the channel).
Borrowing from other scripts:
I tweeked the script of the KeltCOG (published) to calculate the columns and of REVE (also published) to calculate the volume spikes. Because the KeltCOG script had the default option to let the script chose lookback and adapt the width, I decided to not provide inputs to tweek lookback or channel width. Thus, if you use a KeltCOG in default setting, REVE and KCGmut together in the same chart, these will provide consistent complementary information about the candle. This layout has this combination:
I added actual volume to show where volume spikes occur.
Columns
For the channel-width-percent half of the value is used and for the COG-width-percent the whole to get a better image
By plotting the columns of the full width before those of the COG, in two series of positive and negative values, I created the illusion of a column with a different colored patch representing the COG (most are black) at the bottom where it points up (showing momentum is up), in the middle when the close is in the COG (no momentum) or at the top when the close is below the COG (showing momentum is down)
coloring drama
When nothing much happens, i.e. the channels keep the same width of shrink a bit, the columns get an unobtrusive color, black for the small COG patches and bluish gray for the channel columns pointing up or sideways, reddish gray when pointing down. If the COG increases (drama) the patches get colored lime (up), red (down) or orange (sideways, very seldom). If the channel increases, the columns get colored gold (up), maroon (down) or orange (sideways). Because the COG is derived from a Donchian channel, drama means a new high or low in the lookback period. Drama in the KeltCOG channel just means increase in volatility.
histogram showing volume spikes
Blue spikes indicate more then twice as much volume then recently normal, Maroon spikes indicate clear increases less then twice. To prevent the histogram from disappearing behind a column it is plotted first, spikes made longer then the column and also plotted both positive and negative. Single volume spikes don’t mean much, however if these occur in consecutive series and also come together with drama like new highs or increase in volatility, volume is worth noting. I regard such events as ‘voting’, the market ‘votes’ up or down. The REVE analyses these events to asses whether the volume stems from huge institutional traders (‘whales’) or large numbers of small traders (‘muppets’). This might be interesting too.
Remarks about momentum
Like in MACD, momentum has a direction. The difference is that in KCGmut momentum is a choise of the market to move above the COG (uptrend) or in (sideways) or under (downtrend), whereas in MACD the indicator shows the energy with which the market moves up or down. How does the market ‘choose’? The market doesn’t ‘think’, but still it comes to decisions. I see an analogy with the way a swarm of birds decides to go here or there, up or down, or land in a tree. All birds seem to agree but I guess a single bird has not much say in what the swarm does.
Double_Based_EMA_v2Developmment of Double_Based_EMA. The version 2 brings a set of emas, with 8, 34, 144 ,610 periods.
The price source is the closes inside the upper or lower range of the Donchian Chanell with the same period.
The reading is the same as My Script 44.
The price will try to reach the next level of EMA.
if $ >8 will try 34.
if $ >8 and 8>34 will try 144.
if $ >8 and 8>34 and 34>144 will try 610.
if $ <8 will try 34.
if $ <8 and 8<34 will try 144.
if $ <8 and 8<34 and 34<144 will try 610.
//---- Consolidation
The price will oscilate between the highest ema and it´s next in period . Eg 34 > 8 > 610 > 144. $ < 34 will try 144.
The price will oscilate betwenn the lowest ema and it´s next in period. Eg 610 > 34 > 8 > 144. $ > 144 will try 610.
//---
Observe how $ swing between the emas
8 <-> 34
8 <-> 34 <-> 144
34 <-> 144 <-> 610
//---
$ > 8 > 34 > 144 > 610 - pure trend up
S < 8 < 34 < 144 < 610 - pure trend dw
//--- Optional periods - 17 , 72 , 305 , 1292
Enjoy, comment.
Goethe A - Multiple Leading Indicator PackageGoethe A is an Indicator Package that contains multiple leading and lagging indicators.
The background is that shows the local trend is calculated by either two Moving Averages or by a Kumo Cloud. By default the Kumo Cloud calculation is used.
What are those circles?
-These are OBV (or VPT, can be set in the options) Divergences. Red for Regular-Bearish. Orange for Hidden-Bearish. Green for Regular-Bullish. Aqua for Hidden-Bullish.
What this middle line?
-The middle line is calculated by a smoothed Heikin-Ashi indicator. I can be used as a dynamic zone of support and resistance. Many times this indicator is used as entry signal giver in trend following strategies.
What are those background lines?
-The background contains a simple Daily Pivots indicator. This indicator can be read as zones of Support and Resistance that updated based on the used timeframe.
What is this smaller thin grey line?
-This is a very simple Stoploss indicator based on Donchian Channels. The trade direction is based and calculated by the local trend (background color)
What are those small orange or aqua triangles?
- These are Pivots . They show when the OBV or wolfpack oscillators (or a double confirmation of both) might reverse, this is important to know because many times the price action follows this move.
What are those purple triangles?
- These are Pivots . They show when the PVT oscillator might reverse, this is important to know because many times the price action follows this move.
What are those big orange or aqua triangles?
- These are TSI (true strength indicator) entry signals . They are calculated by the TSI entry signal, the TSI oscillator treshold and in conjunction with the overall local trend (background color).
What are those white squares?
- These are Overbought or Oversold regions of the build-in RSI bands indicator. Every time the price crosses one of the RSI bands those squares are printed. Most of the time this happens after a move and indicates that this strong move has come to an end.
Most settings of the indicator package can be modified to your liking and based on your chosen strategy might have to be modified. Please keep in mind that this indicator is a tool and not a strategy, do not blindly trade signals, do your own research first! Use this indicator in conjunction with other indicators to get multiple confirmations.
VWAP Bands - Event Based [LuxAlgo]This indicator returns VWAP bands with a degree of smoothness resetting based on various user-selected events. The bands are constructed using a VWAP based naive standard deviation.
The indicator can be anchored or start from the first bar and can be used as trailing support/resistance, in a moving average crossover system, or as source for external indicators.
Settings
Start: VWAP anchor point
Start At First Bar: Display the VWAP from the first bar instead of a specified anchor point
VWAP
Length: Controls certain characteristics of the user-selected event
Mult: Multiplicative factor for the VWAP standard deviation
Source: Price source of the indicator
Event
Event: Determines the event resetting the degree of smoothness of the VWAP
External Cross/Event: Input source used for external crosses/events
Further details about the available events are given below.
Details
Various event conditions are available to the users. When the selected event occurs, the VWAP equals the current closing price.
By default, the event is periodic, that is the VWAP resets periodically, with a period determined by the Length setting.
The Higher High event resets the VWAP when a new higher high occurs.
The Lower Low event resets the VWAP when a new lower low occurs.
The Trend Change event is similar however resets the VWAP only once a higher high or lower low occurs. Higher highs and lower lows are given by Donchian channels with a period determined by the Length setting.
The Start event reset the VWAP at the selected anchor point (or first bar if the "Start At First Bar" setting is selected). This can be useful if one only needs a regular anchored VWAP band indicator.
The External Cross event resets the VWAP when the Source price crosses the series selected in the External Cross/Event setting. In the image above the VWAP resets when the price crosses the volatility stop indicator.
The External Event resets the indicator when a series selected in the External Cross/Event setting is not equal to 0. This allows using a custom event in order to reset the VWAP. In the above example the VWAP is reset during a new session due to the External Session indicator.
