support and resistance on multi timeframe [parsimaj] Description:
support and resistance and trendline on two timeframes by your choice
This indicator is capable of showing you the current and higher timeframe support and resistance by your strategy choice (two timeframes alongside each other). It also helps you to monitor the trend direction in short and long term by trend lines . You can change the depth of every levels and trend lines from the panel. Use this indicator in all markets because it follows the basic principles of levels but is unique in changing second timeframe by your choice.
_its smart , if the levels are too close together ,it will choose the deeper ones for you.
How it works:
By default, there is no higher timeframe and you can select your desire higher timeframe from the panel. Higher timelines will be displayed thicker and your current levels would be thin lines. (Levels that are higher than the current price will be red and those that are lower will be green). The number of levels to display is also by your choice, the default is 4 levels for each timeframe.
We have two types of trend lines , long terms as trend 1 (blue below and purple above trend line )- short term as trend 2(dashed ones).
Bouncing on levels and breaking trend line are the best triggers for entry and exit points.
Setting:
First, choose your higher timeframe then the depth of levels for each time (current and higher), The deeper it is, the more precise the lines. After that you can set the depth of trend lines by your choice. Trend 1 is the longer term So put it deeper and then set the short trend line (dashed ones) if you want to change it.
We have put the settings in the best mode, but you can also change it according to your strategy and inform us about the results.
This indicator has been obtained with hours of effort and codding , hope you enjoy
Trendtrading
Extended Price Volume Trend Strategy : EducationalThe Extended Price Volume Trend (EPVT) is a technical indicator that is used to identify potential trend changes and measure the strength of a trend. In this strategy, we combine the EPVT with other indicators to create a trading system that aims to capture trend reversals and momentum shifts.
The EPVT indicator is calculated by taking the cumulative volume and multiplying it by the percentage change in price. We then find the highest and lowest values of this indicator over a certain period of time to determine the baseline. The difference between the EPVT and the baseline is then plotted on a chart to create the EPVT line.
To use this indicator for trading, we look for crossovers of the EPVT line with zero. When the EPVT crosses above zero, it indicates that buying pressure is increasing, and we may consider taking a long position. Conversely, when the EPVT crosses below zero, it indicates that selling pressure is increasing, and we may consider taking a short position.
To further refine our trading signals, we use three take-profit levels, which we set as a percentage of the current EPVT value. We also use a simple moving average to provide additional confirmation of trend changes.
In summary, the EPVT trading strategy is a technical analysis-based approach to trading that aims to identify potential trend reversals and momentum shifts. By combining the EPVT indicator with other technical tools, we can create a comprehensive trading system that provides clear entry and exit signals for both long and short positions. Please note that this strategy is for educational purposes only and should not be taken as financial advice.
Leavitt Convolution Acceleration [CC]The Leavitt Convolution Slope indicator was created by Jay Leavitt (Stocks and Commodities Oct 2019, page 11), who is most well-known for creating the Volume-Weighted Average Price indicator. This indicator didn't have a good explanation or description so I custom-coded most of it. The way it works is it will give trend spikes in the direction of the underlying trend. If you don't see a spike then it means that the stock isn't trending at the moment. One possible avenue to explore with this indicator is judging the size of the trend spike before you open a position in that direction (or the opposite direction if you are shorting). I added a normalization function using code from a good friend @loxx that I recommend leaving on but feel free to experiment with it. I have color coded the lines to turn light green for a standard buy signal or dark green for a strong buy signal and light red for a standard sell signal, and dark red for a strong sell signal.
This is another indicator in a series that I'm publishing to fulfill a special request from @ashok1961 so let me know if you ever have any special requests for me.
8 Day Run - Momentum StrategyInspired by Linda Bradford Raschke.
Entry criteria:
This strategy is used to capture momentum effects on the daily periodicities. Once prices have had a run of 8 or more consecutive closes above or below the 5-period simple moving average the strategy is primed to trade.
It will then enter a short on the first close above the 5sma after a run of 8 or more closes below the 5sma (it will enter a long when the price closes below the 5sma after a run of 8 or more closes above the 5sma).
Exit criteria:
All trades are exited on the first close back above/ below the 5sma.
UB Profit Signal IndicatorThe UB Profit Signal indicator is a technical analysis tool designed to identify potential buy and sell signals in the market. The indicator is based on four technical indicators - Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), Bollinger Bands (BB), and volume moving average.
The script starts by defining input variables such as MACD Fast Length, MACD Slow Length, MACD Signal Length, RSI Length, etc. These variables are used to customize the indicator based on the user's preference.
The MACD is calculated using the ta.macd function, which returns three variables: the MACD Line, Signal Line, and Histogram. The MACD line is calculated as the difference between two exponential moving averages of the price. The signal line is a moving average of the MACD line. The histogram shows the difference between the MACD line and the signal line.
The RSI is calculated using the ta.rsi function, which calculates the RSI value based on the number of periods specified in the RSI Length input variable. The RSI is a momentum oscillator that measures the speed and change of price movements.
The Bollinger Bands are calculated using the ta.sma and ta.stdev functions. The Simple Moving Average (SMA) is calculated using the close price over 21 periods, while the Standard Deviation is calculated using the close price over the same 21 periods. The upper and lower bands are then calculated based on the SMA and Standard Deviation.
Finally, the buy and sell signals are generated based on specific conditions that combine the MACD, RSI, and BB values. For example, a buy signal is generated when the RSI value is greater than 30, the volume is greater than the volume moving average, the close price is greater than the 9-period SMA, and the close price is between the upper and lower BBs. Similarly, a sell signal is generated when the RSI value is less than 40, the volume is greater than the volume moving average, the close price is less than the 9-period SMA, and the close price is between the upper and lower BBs.
The buy and sell signals are plotted on the chart using the plotshape function, which creates triangular shapes above and below the bars to indicate the signals. Green triangles indicate a buy signal, while red triangles indicate a sell signal. Overall, the UB Profit Signal indicator can be useful for traders looking to identify potential buy and sell signals in the market and take advantage of price movements.
Swing Indicator (2 before, 1 after) v2 with Dong-DangFeatures
Detection Swing (swing HIGH is the highest bar among 2 bars before and 1 bar after, and swing LOW is the lowest bar among 2 bars before and 1 bar after)
Dong-Dang (The line plot switch between a swing HIGH and LOW ==> represents the price movement)
Fixes
fix swing detection from the last version when there are 2 or more bars that have the same high or low price
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ฟีเจอร์
การจับสวิง (จะเป็นสวิง HIGH ก็ต่อเมื่อแท่งนั้นสูงกว่า 2 แท่งก่อนหน้า และ 1 แท่งด้านหลัง, และจะเป็นสวิง LOW ก็ต่อเมื่อแท่งนั้นต่ำกว่า 2 แท่งก่อนหน้า และ 1 แท่งด้านหลัง)
ด๊องแด๊ง (คือเส้นที่ลากสลับไปมาระหว่างสวิง High และ Low ==> ใช้เพื่อดูการเคลื่อนที่ของราคา)
สิ่งที่แก้ไข
แก้ไขการจับสวิงจากเวอร์ชันก่อนหน้า ในกรณีที่มีแท่งเทียน 2 แท่ง หรือมากกว่า มีค่า high หรือ low เท่ากัน
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Credit: Bravo Trade Academy
Strong Tight Closes in Strong UptrendThis indicator helps to visually identify "strong tight closes" in an uptrend. It serves to make it easier to spot not only tight but tight AND strong consolidations in an ongoing uptrend for a potential continuation entry. Please keep in mind the indicator counts with distance between Close values of 2 separate candles, that's why it's called "Tight Back to Back Candles". This doesn't identify "tight close" in a sense of very narrow range between Open and Close of a single candle, not any other volatility measures such as average true range etc.
Caution: This is not a complete strategy, it's only a visual tool for making potential continuation patterns easier to spot.
Conditions:
- Measure the difference between CLOSE values of two candles in percentages
- If the difference is lower than a certain threshold set by the user, (1.3% by default) plot a green cross below the latter candle
Filters:
- Low of both candles must be above 10EMA on the current timeframe
- Both Closes must be in the upper half of the candles' Low to High range
Rekt Edge Reversion BandRekt Edge Reversion band is a technical indicator that utilizes a combination of moving averages and standard deviations to determine optimal entry and exit points in the market. By comparing the current price to its moving average, the indicator identifies potential trends and determines how you can position around them by plotting buy/sell signals and two channels based on user input parameters. The user can choose between Simple Moving Average ( SMA ) or Exponential Moving Average ( EMA ) and select the moving average period, the unit of separation, the multiples of the unit, and other important parameters. The indicator's inputs can be adjusted to suit different trading styles, and it can be used on any time frame. The indicator can be used to identify potential trend reversals or breakouts (or breakdowns) when the price moves outside of the channels. The indicators potential use cases include identifying overbought or oversold conditions. With its ability to provide a clear signal on when to enter and exit a trade, this indicator is a popular tool among traders looking to make more informed and profitable trading decisions. This indicator can also be used in conjunction with other technical analysis tools to confirm or invalidate trading signals.
Another New Adaptive Moving Average [CC]The New Adaptive Moving Average was created by Scott Cong (Stocks and Commodities Mar 2023) and this is a companion indicator to my previous script . This indicator still works off of the same concept as before with effort vs results but this indicator takes a slightly different approach and instead defines results as the absolute difference between the closing price and a closing price x bars ago. As you can see in my chart example, this indicator works great to stay with the current trend and provides either a stop loss or take profit target depending on which direction you are going in. As always, I use darker colors to show stronger signals and lighter colors to show normal signals. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicator scripts you would like to see me publish!
Big 8 Intraday TICKAt the start of each trading day (0930 EST), this indicator calculates the intraday price difference between open and close for the eight largest market cap stocks (AAPL, AMZN, GOOGLE, META, MSFT, NFLX, NVDA, and TSLA), assigns a +/-1 for each, and then plots the cumulative change. An EMA has been added for smoothing purposes that is set to 5 but can be changed. Please note indicator is best used on lower timeframes (15 min or less) and has no applicability to time frames above 1 hour.
The thought behind this indicator is those eight major stocks drive a majority of intraday price change in indices like SPY and QQQ that are heavily weighted towards these stocks, therefore they should be a leading indicator in price change. You can often catch a move in SPY or QQQ one to two bars (on 1 min chart) ahead of the actual move because you see this indicator moving strong to one direction.
It's not perfect as there are divergences you will see when you compare historical charts, but oftentimes those divergences ultimately lead to significant price swings in the same direction as this indicator, so recommend being on watch to pull the trigger when you see those and price confirms.
You can use this indicator in a few ways:
1. Confirmation that your current trade is in the same direction as this indicator
2. Use the zero cross as a trigger for put or call entry
3. Focusing only on calls/longs if the value is above 0, or only puts/shorts if the value is below zero. Just be sure to keep an eye on reversals.
If you have recommendations on how to improve, let me know and I'll do my best to make changes.
A New Adaptive Moving Average [CC]The New Adaptive Moving Average was created by Scott Cong (Stocks and Commodities Mar 2023) and his idea was to focus on the Adaptive Moving Average created by Perry Kaufman and to try to improve it by introducing a concept of effort vs results. In this case the effort would be the total range of the underlying price action since each bar is essentially a war of the bulls vs the bears. The result would be the total range of the close so we are looking for the highest close and lowest close in that same time period. This gives us an alpha that we can use to plug into the Kaufman Adaptive Moving Average algorithm which gives us a brand new indicator that can hug the price just enough to allow us to ride the stock up or down. I have color coded it to be darker colors when it is a strong signal and lighter colors when it is a normal signal. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
VWAP Supply and Demand ZonesThis is my 1st indicator enjoy.
Description of the VWAP Supply and Demand Zones indicator:
This indicator uses the Volume Weighted Average Price (VWAP) to identify potential supply and demand zones in the market. The VWAP is a popular indicator that shows the average price of a security weighted by volume over a specified period of time. It can be used as a benchmark to measure the efficiency of trading and to identify trends and price levels.
The indicator plots the VWAP as a blue line on the chart, and also plots two other lines above and below it, which represent the upper and lower bounds of the supply and demand zones. The width of these zones can be adjusted by changing the “Zone Width” input parameter.
The indicator also plots shapes on the chart to mark when a supply or demand zone is formed. A supply zone is formed when the price crosses above the VWAP and then falls back below it, indicating that there is more selling pressure than buying pressure at that level. A red triangle is plotted above the bar where this happens, and a red zone is drawn between the previous close and previous VWAP values.
A demand zone is formed when the price crosses below the VWAP and then rises back above it, indicating that there is more buying pressure than selling pressure at that level. A green triangle is plotted below the bar where this happens, and a green zone is drawn between the previous close and previous VWAP values.
The supply and demand zones can be used as potential areas of support and resistance, where traders can look for reversal or continuation signals. For example, if the price enters a supply zone from below, it may indicate that sellers are willing to sell at higher prices, which could lead to a bearish reversal. Conversely, if the price enters a demand zone from above, it may indicate that buyers are willing to buy at lower prices, which could lead to a bullish reversal.
The indicator can be applied to any timeframe or market, but it may work better on higher timeframes where volume data is more reliable. It can also be combined with other indicators or tools to confirm or filter signals.
Trend Oscillatorwhat is "Trend Oscillator"?
it is an indicator for determining the trend.
what it does?
analyzes the price action by reducing it to 4 different situations. Red means strong bear, orange means bearish, yellow means weak bull and green means strong bull. It was developed to help traders who trade in the direction of the trend and its biggest promise is to simplify price action.
how it does it?
He defines 4 different situations as follows. If the velocity of the price is positive and the acceleration is positive, it is a strong bull, if the velocity is positive and the acceleration is negative, it is a weak bull, if the velocity is negative and the acceleration is positive, it is a weak bear, if both velocity and acceleration are negative, it is a strong bear.
2 for strong bull
1 for the weak bull
-1 for weak bear
Creates a function that takes values of -2 for the strong bear. this function is the velocity of the principal indicator, and then the integral of this function forms the principal indicator.
how to use it?
"source" is used to change the source of the indicator,
"length" makes the indicator give a later but less signal.
you can use it to follow or analyze the trend. colors make it easy to use. learns about current or past trends by looking at colors. Like any trend indicator, it can give unsuccessful signals in a horizontal trend.
Dynamo
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Overview
Dynamo is built to be the Swiss-knife for price-movement & strength detection, it aims to provide a holistic view of the current price across multiple dimensions. This is achieved by combining 3 very specific indicators(RSI, Stochastic & ADX) into a single view. Each of which serve a different purpose, and collectively provide a simple, yet powerful tool to gauge the true nature of price-action.
Background
Dynamo uses 3 technical analysis tools in conjunction to provide better insights into price movement, they are briefly explained below:
Relative Strength Index(RSI)
RSI is a popular indicator that is often used to measure the velocity of price change & the intensity of directional moves. RSI computes the relative strength of the current price by comparing the security’s bullish strength versus bearish strength for a given period, i.e. by comparing average gain to average loss.
It is a range bound(0-100) variable that generates a bullish reading if average gain is higher, and a bullish reading if average loss is higher. Values over 50 are generally considered bullish & values less than 50 indicate a bearish market. Values over 70 indicate an overbought condition, and values below 30 indicate oversold condition.
Stochastic
Stochastic is an indicator that aims to measure the momentum in the market, by comparing most recent closing price of the security to its price range for a given period. It is based on the assumption that price tends to close near the recent high in an up trend, and it closes near the recent low during a down trend.
It is also range bound(0-100), values over 80 indicate overbought condition and values below 20 indicate oversold condition.
Average Directional Index(ADX)
ADX is an indicator that can quantify trend strength, it is derived from two underlying indices, known as Directional Movement Index(DMI). +DMI represents strength of the up trend, and -DMI represents strength of the down trend, and ADX is the average of the two.
ADX is non-directional or trend-neutral, which means, it does not follow the direction of the price, instead ADX will rise only when there is a strong trend, it does not matter if it’s an up trend or a down trend. Typical ranges of ADX are 25-50 for a strong trend, anything below 25 is considered as no trend or weak trend. ADX can frequently shoot upto higher values, but it generally finds exhaustion levels around the 60-75 range.
About the script
All these indicators are very powerful tools, but just like any other indicator they have their limitations. Stochastic & ADX can generate false signals in volatile markets, meaning price wouldn’t always follow through with what’s being indicated. ADX may even fail to generate a signal in less volatile markets, simply because it is based on moving averages, it tends to react slower to price changes. RSI can also lose it’s effectiveness when markets are trending strong, as it can stay in the overbought or oversold ranges for an extended period of time.
Dynamo aims to provide the trader with a much broader perspective by bringing together these contrasting indicators into a single simplified view. When Stochastic becomes less reliable in highly volatile conditions, one can cross validate their deduction by looking at RSI patterns. When RSI gets stuck in overbought or oversold range, one can refer to ADX to get better picture about the current trend. Similarly, various combinations of rules & setups can be formulated to get a more deterministic view, when working with either of these indicators.
There many possible use cases for a tool like this, and it totally depends on how you want to use it. An obvious option is to use it to trigger signals only after it has been confirmed by two or more indicators, for example, RSI & Stochastic make a great combination for cross-over or cross-under strategies. Some of the other options include trend detection, strength detection, reversals or price rejection points, possible duration of a trend, and all of these can very easily be translated into effective entry and exit points for trades.
How to use it
Dynamo is an easy-to-use tool, just add it to your chart and you’re good to start with your market analysis. Output consists of three overlapping plots, each of which tackle price movement from a slightly different angle.
Stochastic: A momentum indicator that plots the current closing price in relation to the price-range over a given period of time.
Can be used to detect the direction of the price movement, potential reversals, or duration of an up/down move.
Plotted as grey coloured histograms in the background.
Relative Strength Index(RSI): RSI is also a momentum indicator that measures the velocity with which the price changes.
Can be used to detect the speed of the price movement, RSI divergences can be a nice way to detect directional changes.
Plotted as an aqua coloured line.
Average Directional Index(ADX): ADX is an indicator that is used to measure the strength of the current trend.
Can be used to measure how strong the price movement is, both up and down, or to establish long terms trends.
Plotted as an orange coloured line.
Features
Provides a well-rounded view of the market movement by amalgamating some of the best strength indicators, helping traders make better informed decisions with minimal effort.
Simplistic plots that aim to convey clean signals, as a result, reducing clutter on the chart, and hopefully in the trader's head too.
Combines different types of indicators into a single view, which leads to an optimised use of the precious screen real-estate.
Final Note
Dynamo is designed to be minimalistic in functionality and in appearance, as it is being built to be a general purpose tool that is not only beginner friendly, but can also be highly-configurable to meet the needs of pro traders.
Thresholds & default values for the indicators are only suggestions based on industry standards, they may not be an exact match for all markets & conditions. Hence, it is advisable for the user to test & adjust these values according their securities and trading styles.
The chart highlights one of many possible setups using this tool, and it can used to create various types of setups & strategies, but it is also worth noting that the usability & the effectiveness of this tool also depends on the user’s understanding & interpretation of the underlying indicators.
Lastly, this tool is only an indicator and should only be perceived that way. It does not guarantee anything, and the user should do their own research before committing to trades based on any indicator.
Haydens RSI Trend TraderThis is a simple trend trading companion indicator for Hayden's Advanced RSI, which can be found here:
For best results, please be sure your oscillator and chart companion settings match. Detailed trade information & statistics can be found when hovering over any of the indicator labels. The backtesting results are not calculated the same as TradingView, and the original code can be found here
Shoutout to the following authors for the code snippets that were used in making this indicator: @lazybear @kiosefftrading @Koalafied_3 @mabonyi @Capissimo
VWAP filtered MACD Bars with positive MACD histogram value and closing above VWAP are colored, long positions should be taken in areas made of those bars.
Similarly, bars with negative MACD histogram value and closing below VWAP are also colored, short positions should be taken there.
This indicator by default should be a part of your trend following trading system.
In the setting you can change colors
Above grow: positive and rising MACD histogram value
Above fall: positive and falling MACD histogram value
Below fall: negative and falling MACD histogram value
Below grow: negative and rising MACD histogram value
RedK TrendBeads: 3 x MA Crossover Signal with Preset TemplatesRedK TrendBeads is a super simple 3 x Moving Average Crossover Signal (Long/Short/Break) script that provides a simple and effective way for traders to identify potential trading opportunities. By combining three moving averages and only exposing a simple signal, the script helps filter out noise and focus on the trend and the trade execution.
Background
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A 3 x Moving Average Crossover strategy is a popular trading method in technical analysis . It uses the relationship between a fast, medium, and slow moving averages to generate buy or sell signals.
The approach usually utilizes three moving averages to track the average price of a financial instrument over different time periods. By comparing the fast, medium, and slow moving averages, we can generates a signal to trade long or short
If the fast moving average crosses above the medium moving average and the medium moving average is above the slow moving average, we have a probability of an up-trend forming, and we generate a signal to go long. Conversely, if the fast moving average crosses below the medium moving average and the medium moving average is below the slow moving average, we have a probability of a down-trend forming, and we generate a signal to go short. When the moving averages are not in the right order (above or below each other), we have a trend break, usually on consolidation or base forming.
in TrendBeads, the fastest MA is called "Price Proxy MA" and will be used with a relatively short length to represent the price itself - then there are the Fast MA, Slow MA and a Filter MA (usually with the longest/slowest length) which is the main line that will be used to plot the TrendBeads - So the TrendBeads will represent the state of the other 3 Moving Average lines (Proxy, Fast and Slow) and how they are aligned - and it will also be common to use the Filter / Beads line itself as a main filter, i.e., take long positions *only* when the price action is above the Filter MA, and short positions *only* when the price is below the Filter MA.
So what is different with TrendBeads:
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Simplicity, No Clutter: I put this together to provide a super simple mechanism to track trend on the price chart without so much noise as i also wanted to have other top-chart indicators (like LadderTrader) - so TrendBeads only shows the "beads" on the chart - they act like "traffic lights" with little distracting information - Simplicity here was deliberately part if the idea
Presets, What others are Watching: The other feature I needed was the ability to track price action against "different sets" of Moving Averages quickly - for example, when executing short-term trades, I needed to use Moving Averages with shorter length and want to utilize my RSS_WMA MA type - but when assessing big breakout opportunities, I need to analyze price action against a different set of MA's with (usually) longer length and mainly SMA's (hint, The Minervini template) - This is where the built-in Preset Templates become very useful.
Having these preset templates quickly available (thru the dropdown in indicator settings) provides time saving, convenience and the confidence that we're looking at what other traders are using in their analysis - so not missing out on key-level breakouts or reversals
TrendBeads v1.0 includes the following 5 preset MA templates
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Preset 1 : RedK_1: 8RSS / 15RSS / 21RSS / 30SMA
Preset 2 : RedK_2: 5WMA / 10SMA / 20SMA / 40SMA
Preset 3 : SWNG_1: 7EMA / 21EMA / 30EMA / 50SMA
Preset 4 : SWNG_2: 10EMA / 21EMA / 50SMA / 100SMA
Preset 5 : SWNG_3: 10EMA / 21EMA / 100SMA / 200SMA
The above presets represent some of the most common sets of MA's traders use in various scenarios (Short-term/day trading, Swing, Long term / growth). Well, except for the first one since it utilizes my own RSS_WMA :) which I use in many charts
I may add some more presets in future.
below chart shows an example of different presets against AAPL for the same time range / window
There's also the ability to manually set different MA source price, MA type and length for each of the 4 MA lines. Supported MA types are SMA , EMA , WMA , HMA and my RSS_WMA
TrendBeads Usage Tips:
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*If you have used any MA crossover (2 lines or 3 lines) on your chart, your should find TradeBeads very easy to use. TrendBeads works the same way except that the signal will show as colored beads on the Filter MA line instead of showing multiple crossing lines .. and that is by design.
* Feel free to expose any or all of the individual MA lines - for example, i find that exposing the Proxy Line helps in quickly finding famous chart patterns ( cup & handle , H&S ..etc)
* Experiment with the different presets depending on the type of trade you're working on (swing, long term growth candidates, day trades..etc)
* Note that in a long trend up (Aqua Beads), usually the first gray + orange sequence will usually act as a "reversal sign" - and are usually not actionable - always look for the "second" color sequence to action/trade .. Same thing for a long trend down -- get used to how the beads change color against the trend changes and play with various timeframes.
* As usual - we should have other indicators that track strength, volume , etc and ensure proper confirmation before trade execution - A good signal is only a small part of a trade - risk management and good trade execution are key to winning.
Hope some fellow traders will find this useful - feel free to leave me any comments or feedback - Good luck!
Fibonacci Step IndicatorThe Fibonacci Step Indicator assumes irregularity in calculating a moving average. It is measured as the mean of the previous lows and highs situated at Fibonacci past periods. For example, the mean of the lows from 2, 3, 5, 8, etc. periods ago form the Fibonacci step indicator.
The indicator uses the formula for the first twelve Fibonacci numbers on highs and lows so that it creates a moving support/resistance zone. Afterwards, the zone is stabilized by taking the highest highs of the upper indicator and the lowest lows of the lower indicator part.
The indicator is used as a trend following way. It can be compared to the Ichimoku Kinko Hyo cloud (without the future projection). The zone form a support and resistance area. During ranging periods, the market will fluctuate within the area which is a bad time to follow the trend (if any).
RSI TREND FILTERRSI TREND Filter on Chart
RSI scaled to fit on chart instead of oscillator, Trend Analysis is easy and Hidden Divergence is revealed using this indicator. This indicator is an aim to reduce confusing RSI Situations. The Oversold and Overbought lines help to determine the price conditions so its easy to avoid Traps.
Oversold and Overbought conditions are marked on Chart to make it useful to confirm a Buy or Sell Signals.
RSI 50 level is plotted with reference to EMA50 and Oversold and Overbought Conditions are calculated accordingly.
Uptrend: RSI Cloud / Candles above RSI 50 Level
Down Trend: RSI Cloud / Candles below RSI 50 Level
Sideways : Candles in the Gray Area above and below RSI 50 Level
Default RSI (14) : is the Candlestick pattern itself
Disclaimer: Use Solely at your own Risk.
Flying Dragon Trend IndicatorFlying Dragon Trend Indicator can be used to indicate the trend on all timeframes by finetuning the input settings.
The Flying Dragon Trend family includes both the strategy and the indicator, where the strategy supports of selecting the optimal set of inputs for the indicator in each scenario. Highly recommended to get familiar with the strategy first to get the best out of the indicator.
Flying Dragon Trend plots the trend bands into the ribbon, where the colours indicate the trend of each band. The plotting of the bands can be turned off in the input settings. Based on the user selectable Risk Level the trend pivot indicator is shown for the possible trend pivot when the price crosses the certain moving average line, or at the Lowest risk level all the bands have the same colour. The trend pivot indicator is not shown on the Lowest risk level, but the colour of the trend bands is the indicator instead .
The main idea is to combine two different moving averages to cross each other at the possible trend pivot point, but trying to avoid any short term bounces to affect the trend indication. The ingenuity resides in the combination of selected moving average types, lengths and especially the offsets. The trend bands give visual hint for the user while observing the price interaction with the bands, one could say that when "the Dragon swallows the candles the jaws wide open", then there is high possibility for the pivot. The leading moving average should be fast while the lagging moving average should be, well, lagging behind the leading one. There is Offset selections for each moving average, three for leading one and one for the lagging one, those are where the magic happens. After user has selected preferred moving average types and lengths, by tuning each offset the optimal sweet spot for each timeframe and equity will be found. The default values are good enough starting points for longer (4h and up) timeframes, but shorter timeframes (minutes to hours) require different combination of settings, some hints are provided in tooltips. Basically the slower the "leading" moving average (like HMA75 or HMA115) and quicker the "lagging" moving average (like SMA12 or SMA5) become, the better performance at the Lowest risk level on minute scales. This "reversed" approach at the minute scales is shown also as reversed colour for the "lagging" moving average trend band, which seems to make it work surprisingly well.
The Flying Dragon Trend does not necessarily work well on zig zag and range bounce scenarios without additional finetuning of the input settings to fit the current condition.
Flying Dragon Trend StrategyFlying Dragon Trend Strategy can be used to indicate the trend on all timeframes by finetuning the input settings.
The Flying Dragon Trend family includes both the strategy and the indicator, where the strategy supports of selecting the optimal set of inputs for the indicator in each scenario. Highly recommended to get familiar with the strategy first to get the best out of the indicator.
Flying Dragon Trend plots the trend bands into the ribbon, where the colours indicate the trend of each band. The plotting of the bands can be turned off in the input settings. Based on the user selectable Risk Level the strategy is executed when the price crosses the certain moving average line, or at the Lowest risk level all the bands have the same colour.
The main idea is to combine two different moving averages to cross each other at the possible trend pivot point, but trying to avoid any short term bounces to affect the trend indication. The ingenuity resides in the combination of selected moving average types, lengths and especially the offsets. The trend bands give visual hint for the user while observing the price interaction with the bands, one could say that when "the Dragon swallows the candles the jaws wide open", then there is high possibility for the pivot. The leading moving average should be fast while the lagging moving average should be, well, lagging behind the leading one. There is Offset selections for each moving average, three for leading one and one for the lagging one, those are where the magic happens. After user has selected preferred moving average types and lengths, by tuning each offset the optimal sweet spot for each timeframe and equity will be found. The default values are good enough starting points for longer (4h and up) timeframes, but shorter timeframes (minutes to hours) require different combination of settings, some hints are provided in tooltips. Basically the slower the "leading" moving average (like HMA75 or HMA115) and quicker the "lagging" moving average (like SMA12 or SMA5) become, the better performance at the Lowest risk level on minute scales. This "reversed" approach at the minute scales is shown also as reversed colour for the "lagging" moving average trend band, which seems to make it work surprisingly well.
The Flying Dragon Trend does not necessarily work well on zig zag and range bounce scenarios without additional finetuning of the input settings to fit the current condition.
Strategy direction selector by DashTrader.
Market Structure MA Based BOS [liwei666]
🎲 Overview
🎯 This BOS(Break Of Structure) indicator build based on different MA such as EMA/RMA/HMA, it's usually earlier than pivothigh() method
when trend beginning, customer your BOS with 2 parameters now.
🎲 Indicator design logic
🎯 The logic is simple and code looks complex, I‘ll explain core logic but not code details.
1. use close-in EMA's highest/lowest value mark as SWING High/Low when EMA crossover/under,
not use func ta.pivothigh()/ta.pivotlow()
2. once price reaching EMA’s SWING High/Low, draw a line link High/Low to current bar, labled as BOS
3. find regular pattern benefit your trading.
🎲 Settings
🎯 there are 4 input properties in script, 2 properties are meaningful in 'GRP1' another 2 are display config in 'GRP2'.
GRP1
MA_Type: MA type you can choose(EMA/RMA/SMA/HMA), default is 'HMA'.
short_ma_len: MA length of your current timeframe on chart
GRP2
show_short_zz: Show short_ma Zigzag
show_ma_cross_signal: Show ma_cross_signal
🎲 Usage
🎯 BOS signal usually worked fine in high volatility market, low volatility is meaningless.
🎯 We can see that it performs well in trending market of different symbols, and BOS is an opportunity to add positions
BINANCE:BTCUSDTPERP
BINANCE:ETHUSDTPERP
🎯 MA Based signal is earlier than pivothigh()/pivotlow() method when trend beginning. it means higher profit-loss rate.
🎯 any questions or suggestion please comment below.
Additionally, I plan to publish 20 profitable strategies in 2023; indicatior not one of them,
let‘s witness it together!
Hope this indicator will be useful for you :)
enjoy! 🚀🚀🚀
Trendly
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About the script:
This script is an easy-to-use trend indicator, which is based on another popular indicator called "Supertrend" . The basic idea is very simple, i.e. to compute Average True Range(ATR) and use that as the basis for trend detection. The key difference lies in a custom trend detection method, that computes trends across different timeframes and projects them in a table view. The script also tries to improve the behaviour of the existing indicator by highlighting flat regions on the chart, indicating sideways market or potential trend reversals.
How to use it:
You can use it just like any other indicator, add it to your chart and start analysing market trends. Results can be interpreted as follows.
Indicator output is currently made up of two main components:
>> Trend Table:
Appears at the bottom right of your screen
Contains trend indicator for 9 different timeframes
Timeframes can be adjusted using indicator settings panel
Green Up Arrow --> Up Trend
Red Down Arrow --> Down Trend
>> Enhanced Supertrend:
Shows up as a line plot on the chart
Green line indicates up trend
Red line indicates down trend
White regions indicates slow moving markets or a potential trend reversal
Indicator can be used on any timeframe, it provides a view of current and historical market trend
Can be used as an indicator for entering/exiting trades
Can be used to build custom trading strategies
