Candle + Volume as HistogramNow plot Candle and Volume as Histogram Oscillator. It is a very simple but very effective indicator to see what is happening at Volume and Candle levels. It clearly plots whether the market is trending, volatile, what is going to happen in next candles etc. Above Zero is price candle and below Zero is Volume histogram.
SETTINGS:
EMA : 9 period EMA on price is default, which I find the best, but you can change as you likes. Below zero line shows market is in negative phase and above zero market is positive.
PRICE CANDLE : As price and volume have different numeric value, so you have to use multiplier to set the proper price candle, which is plotted above zero
VOLUME : As price and volume have different numeric value, so you have to use multiplier to set the Volume candle, which is plotted below zero.
ZERO LINE : use ‘Gap between Candle and Volume plotting’. Increase the value until you see a thin line between price and volume histogram.
NOTE: (i) When you will plot the indicator for the first time, either price candle may not be appearing properly or volume. It means that non-appearing histogram side needs multiplication, so keep on increasing value on proper side until both side histogram appears properly.
(ii) In other case. Price or volume histogram may appear as full Candle. In this case too, you need to increase multiplier value on opposite side till value becomes equal on both sides.
These settings are important because a share price can be 10 only whereas volume may be in millions. Indicator has been tested on many shares and indexes, so never feels that indicator is improper. Just try to change the setting.
Enjoy.
Zmienność
Gap Removal IndicatorThis gap indicator shows the price of your chosen instrument as if no gaps had occurred overnight. It can be especially useful on highly-volatile exchange-listed instruments that track other 24/7 assets, because the normal candlestick chart of these instruments will create a large amount of noise that may decrease the accuracy of your indicators or make the trend harder to see.
Gaps are determined with the following code:
daychange = ta.change(dayofmonth)
gapup = daychange and open > math.max(open,close)
gapdown = daychange and open < math.min(open,close)
Whereas the gap value is determined by taking the overnight difference in prices:
downgap_change = math.min(open,close) - open
upgap_change = open - math.max(open,close)
The gap changes are cumulatively added and subtracted from the initial closing price to create the gap-adjusted price. The price will depend on how many bars your subscription allows, so pay more attention to the relative differences and/or trend than the cumulative gap-adjusted price itself.
The gap indicator comes pre-built with normal candlestick and Heikin-Ashi candle types, and four indicators (two EMAs, Bollinger bands, and a supertrend). All elements are configurable.
Vo-S-Di-T-I - Volatility Scaled Directional Trend IndicatorThis code represents just the foundation for what's to come. It lays the groundwork for a more sophisticated quant trading model, offering a glimpse into the potential of future developments. I hope my contribution to this community will be valued. I'm here for idea exchanges and coding together, with the key emphasis on ensuring everything we do is grounded on a solid statistical basis.
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The developed code is based on a rigorous quantitative approach for analyzing price trends in the equity sector, utilizing advanced statistical methodology to scale returns based on the volatility observed over predefined periods of 20 and 50 days. This technique for normalizing returns allows us to eliminate distortions due to the intrinsic variability of prices and focus on the underlying structure of price behavior. The primary goal of the code is not to speculatively predict future market movements but rather to identify potential reversal trend signals through price dynamics analysis, within an optimized risk and return context.
Our approach is distinguished by the use of statistical decomposition techniques and time series analysis to interpret price variations as indicators of possible shifts in market behavior. This allows distinguishing between random or short-term price movements and true trend changes, providing a solid foundation for more informed investment decisions.
The current code represents the initial phase of a broader project that envisages the integration of machine learning algorithms to further refine the ability to detect significant changes in price trends. Through the application of predictive models and machine learning techniques, we intend to explore complex patterns in historical price data that may precede trend reversals, always respecting the principles of rigorous statistical analysis and risk management. This development and learning path will allow us to continuously improve investment strategies, leveraging the analytical capabilities of modern data science algorithms applied to the financial sector.
HOW TO READ
Simply put, Z values above 0 indicate an uptrend, while values below indicate a downtrend. IMPORTANT: It is not necessary to consider any crosses between Z-Short and Z-Long, but only potential crosses with 0.
The initial values are set at 20 and 50, but everyone is free to choose the most suitable periods, as long as all choices have valid statistical significance. My advice is to use R or MatLab to explore the best correlation between N and price movements. The reason I have set two values for N (Short and Long) is because it's interesting to assess short-term and medium-to-long-term trends to understand if price movements can lead to reversals only in the short term or also in the medium to long term. This idea came to me because I believe all other trend determination systems have too much lag and unpredictability.
Hamilton - Wick Length PredictionWick Length Prediction is a Pine Script indicator crafted to empower traders by predicting the potential length and direction of the next candle's wick based on historical price action. By analyzing previous candles' wick sizes, this tool provides valuable foresight into future price dynamics, enhancing decision-making for traders.
Key Features:
Wick Percentage Analysis : Calculates the percentages of the upper and lower wicks from the previous candle relative to its total range, offering a predictive insight into the next wick’s potential direction and size.
Directional Bias Indicator : Identifies the longer wick between the previous candle's upper and lower wicks to suggest a directional bias—green indicates an upward prediction, while red suggests downward.
Targeted Plotting : Marks a horizontal line at the anticipated wick position for the forthcoming candle, aiding traders in identifying potential price rejection zones ahead of time.
Strategic Insights for Traders:
Understanding Market Pressure : Recognizes that wicks typically indicate pressure in the opposite direction of their occurrence, presenting potential targets for price movement towards the opposite side. This insight is invaluable for identifying reversal zones or continuation patterns.
Optimal for Scalping : Especially beneficial for scalpers, this tool helps in pinpointing precise entry and exit points by forecasting where the price might face opposition and potentially reverse or absorb the wick.
Timeframe Flexibility : While best suited for higher timeframes, it also delivers on lower timeframes during aggressive market movements, making it a versatile addition to your trading arsenal.
Application Tips :
Leverage in combination with other indicators and support/resistance levels to refine your trading strategy.
Ideal for enhancing price action analysis, providing a clearer understanding of potential market movements.
Use as a strategic complement to your existing approach, mindful of its predictive nature to inform better trading decisions.
Disclaimer: Trading involves significant risk. This tool aims to support a diversified trading strategy, but it's crucial to perform your own analysis and adopt appropriate risk management practices.
Dynamic Price Targets @shrilssDynamic Price Targets is a designed to provide traders with a comprehensive view of dynamic price levels based on Volume Weighted Moving Average (VWMA) and standard deviation. This script allows users to identify potential support and resistance zones, aiding in strategic decision-making during market analysis.
The script calculates the VWMA of a chosen price source over a specified length, establishing a dynamic baseline for market trends. The standard deviation is then used to derive multiple upper and lower targets, each representing a certain deviation from the VWMA. These levels are color-coded for clarity, with upper targets displayed in shades of red and lower targets in shades of green.
SAT - Sentiment Analysis Tool by Csth97This code calculates the correlation between the ATR and the OBV of the price, and plots the difference between the positive and negative OBV correlations as a line. It also plots horizontal lines at the UP and DOWN levels, and signals bullish and bearish crosses when the difference line crosses those levels.
Liquidity LevelsThe "Liquidity Levels" indicator on TradingView is designed to identify and highlight liquidity levels in the market. This indicator is based on pivot highs and lows with an adjustable offset to adjust the importance and length of the identified levels.
The strength of this indicator lies in its ability to highlight changes in liquidity levels, which can be crucial for traders. By marking pivot highs and lows, potential areas of high liquidity are highlighted, which can indicate where significant market movements or reversal points may occur.
The flexibility of whether the calculation is based on the closing price or the high/low prices allows for customisable analysis. The visual representation of liquidity levels by lines makes it easier to identify and monitor these key areas in the chart, which can provide additional value for traders.
Reversal and Breakout Signals [AlgoAlpha]🚀🌟 Introducing the Reversal and Breakout Signals by AlgoAlpha 🌟🚀
This innovative tool is crafted to enhance your chart analysis by identifying potential reversal and breakout opportunities directly on your charts. It's designed with both novice and experienced traders in mind, providing intuitive visual cues for better decision-making. Let's dive into the key features and how it operates:
### Key Features:
🔶 Dynamic Period Settings: Customize the sensitivity of the indicator with user-defined periods for both the indicator and volume strength.
📊 Volume Threshold: Set a threshold to define what constitutes strong volume, enabling the identification of significant market movements.
💡 Trend Coloring: Option to color candles during trends, making it easier to visualize bullish and bearish market conditions.
🌈 Customizable Visuals: Choose your preferred colors for bullish, bearish, and breakout signals, personalizing the chart to your liking.
🚨 Advanced Alert System: Configure alerts for reversal and breakout signals, ensuring you never miss a potential trading opportunity.
### How to Use:
To maximize the effectiveness of the Reversal and Breakout Signals tool, follow these steps:
1. 🔧 Set Up Your Preferences:
- Adjust the Indicator Period and Volume Strength Period to match the timeframe of your trading strategy. This fine-tuning allows the indicator to better align with your specific market analysis needs.
- Define the Strong Volume Threshold to distinguish between ordinary and significant volume movements. This helps in identifying breakout or reversal signals with higher confidence.
2. 🎨 Customize Visuals:
- Choose colors for Bullish , Bearish , and Breakout Signals to visually differentiate between different types of market activities. This customization facilitates quicker decision-making while scanning charts.
3. 🔍 Reversal Signals:
- Bullish Reversal : Look for a triangle below the bar indicating a potential upward movement. It's identified when the price dips below the lower level but closes above it, suggesting a rejection of lower prices.
- Bearish Reversal : A triangle above the bar signals a potential downward movement. This occurs when the price spikes above the upper level but closes below, indicating a rejection of higher prices.
4. 📈 Trend and Breakout Signals:
- Diamonds represent breakout signals. A bullish breakout is marked below the bar when the price closes above the upper level, suggesting strong buying pressure. Conversely, a bearish breakout above the bar indicates strong selling pressure as the price closes below the lower level.
- The tool also features a Trend Tracker that highlights the current market trend using the Hull Moving Average (HMA). This can help you stay aligned with the overall market direction for your trades.
By integrating these steps into your trading strategy, the Reversal and Breakout Signals tool can provide actionable insights to help identify potential entry and exit points, enhancing your trading decisions with visual cues and alerts for market reversals and breakouts.
### How It Works:
The core logic revolves around calculating weighted moving averages of high and low prices over a user-defined period, identifying the highest and lowest points within this period to establish potential breakout or breakdown levels while reducing the amount of noise, hence the use of moving averages.
1. Weighted Moving Averages Calculation:
sh = ta.wma(high, len)
sl = ta.wma(low, len)
h = ta.highest(sh, len)
l = ta.lowest(sl, len)
2. Breakout and Reversal Detection:
The script then employs logic to detect bullish and bearish breakouts and reversals based on the closing price's position relative to these levels, combined with volume analysis to confirm the strength of the move.
if not (h < h or h > h )
hstore := h
if not (l < l or l > l )
lstore := l
bullishbreakout := (breakout or ((breakout or breakout or breakout or breakout ) and candledir == 1)) and strongvol and not (bullishbreakout or bullishbreakout or bullishbreakout )
bearishbreakout := (breakdown or ((breakdown or breakdown or breakdown or breakdown ) and candledir == -1)) and strongvol and not (bearishbreakout or bearishbreakout or bearishbreakout )
3. Visual Indicators and Alerts:
Visual cues such as triangle shapes for reversals and diamonds for breakouts, along with colored bars, make it easy to spot these opportunities. Additionally, alerts can be set up for these events, ensuring traders can react promptly to potential trading setups.
plotshape(bullishrej and not (state ==- 1) ? low * 0.9995 : na, " Bullish Reversal ", shape.triangleup, location.belowbar, color.new(green, 0), size = size.tiny, text = "𝓡", textcolor = color.gray)
plotshape(bearishrej and not (state == 1) ? high * 1.0005 : na, " Bearish Reversal ", shape.triangledown, location.abovebar, color.new(red, 0), size = size.tiny, text = "𝓡", textcolor = color.gray)
plotshape(bullishbreakout ? low * 0.999 : na, " Bullish Breakout ", shape.diamond, location.belowbar, color.new(yellow, 0), size = size.tiny, text = "𝓑", textcolor = color.gray)
plotshape(bearishbreakout ? high * 1.001 : na, " Bearish Breakout ", shape.diamond, location.abovebar, color.new(yellow, 0), size = size.tiny, text = "𝓑", textcolor = color.gray)
This script is a versatile tool designed to aid in the identification of key reversal and breakout points, helping traders to make informed decisions based on technical analysis. Its customization options allow for a tailored analysis experience, fitting the unique needs and strategies of each trader.
Rate of Change MachineRate of Change Machine
Author: RWCS_LTD
Disclaimer: This script is provided for informational purposes only and should not be considered financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Introduction:
The Rate of Change Machine is a script designed to assist traders in analyzing multiple cryptocurrency trading pairs simultaneously. This comprehensive indicator offers a holistic view of the rate of change and related metrics, aiding traders in making informed decisions.
Asset Selection:
The script enables users to select up to nine different cryptocurrency trading pairs for in-depth analysis.
Volume Calculation:
Volume plays a crucial role in the analysis, with customizable parameters for volume weighting and length.
Relative Strength Calculation:
Relative Strength is determined through two Exponential Moving Averages (EMA) with user-defined lengths.
Timeframe Weightings:
Different timeframes (1D, AVG 3D, AVG 5D, AVG 7D, AVG 14D, AVG 30D) are assigned weightings to calculate a comprehensive trend score.
Weighted Average and Individual Rate of Change (RoC) Calculation:
The getWeightedAvgAndIndividualROC function calculates the RoC for each selected trading pair based on the given timeframes and weights.
Table Setup:
A table is created to display the results for each trading pair, including relative strength, volume trend, RoC for different timeframes, and a weighted trend score.
Table Formatting:
The table is formatted with different colors indicating positive or negative values for easier interpretation.
Table Position and Size:
Users can customize the position and size of the table on the chart.
Data Retrieval:
The script retrieves the calculated values for each trading pair using the request.security function.
Output:
The final output is a table on the chart, showing relevant information for the selected trading pairs, aiding traders in making informed decisions based on the rate of change and other factors. This indicator provides a comprehensive view of the rate of change and related metrics for multiple trading pairs, assisting traders in identifying potential trends and making informed trading decisions.
[blackcat] L2 Twisted Pair IndicatorOn the grand stage of the financial market, every trader is looking for a partner who can lead them to dance the tango well. The "Twisted Pair" indicator is that partner who dances gracefully in the market fluctuations. It weaves the rhythm of the market with two lines, helping traders to find the rhythm in the market's dance floor.
Imagine when the market is as calm as water, the "Twisted Pair" is like two ribbons tightly intertwined. They almost overlap on the chart, as if whispering: "Now, let's enjoy these quiet dance steps." This is the market consolidation period, the price fluctuation is not significant, traders can relax and slowly savor every detail of the market.
Now, let's describe the market logic of this code in natural language:
- **HJ_1**: This is the foundation of the market dance steps, by calculating the average price and trading volume, setting the tone for the market rhythm.
- **HJ_2** and **HJ_3**: These two lines are the arms of the dance partner, they help traders identify the long-term trend of the market through smoothing.
- **HJ_4**: This is a magnifying glass for market sentiment, it reveals the tension and excitement of the market by calculating the short-term deviation of the price.
- **A7** and **A9**: These two lines are the guide to the dance steps, they separate when the market volatility increases, guiding the traders in the right direction.
- **WATCH**: This is the signal light of the dance, when the two lines overlap, the market is calm; when they separate, the market is active.
The "Twisted Pair" indicator is like a carefully choreographed dance, it allows traders to find their own rhythm in the market dance floor, whether in a calm slow dance or a passionate tango. Remember, the market is always changing, and the "Twisted Pair" is the perfect dance partner that can lead you to dance out brilliant steps.
The script of this "Twisted Pair" uses three different types of moving averages: EMA (Exponential Moving Average), DEMA (Double EMA), and TEMA (Triple EMA). These types can be selected by the user through exchange input.
Here are the main functions of this code:
1. Defined the DEMA and TEMA functions: These two functions are used to calculate the corresponding moving averages. EMA is the exponential moving average, which is a special type of moving average that gives more weight to recent data. In the first paragraph, ema1 is the EMA of "length", and ema2 is the EMA of ema1. DEMA is 2 times of ema1 minus ema2.
2. Let users choose to use EMA, DEMA or TEMA: This part of the code provides an option for users to choose which type of moving average they want to use.
3. Defined an algorithm called "Twisted Pair algorithm": This part of the code defines a complex algorithm to calculate a value called "HJ". This algorithm involves various complex calculations and applications of EMA, DEMA, TEMA.
4. Plotting charts: The following code is used to plot charts on Tradingview. It uses the plot function to draw lines, the plotcandle function to draw candle (K-line) charts, and yellow and red to represent different conditions.
5. Specify colors: The last two lines of code use yellow and red K-line charts to represent the conditions of HJ_7. If the conditions of HJ_7 are met, the color of the K-line chart will change to the corresponding color.
BetaBeta , also known as the Beta coefficient, is a measure that compares the volatility of an individual underlying or portfolio to the volatility of the entire market, typically represented by a market index like the S&P 500 or an investible product such as the SPY ETF (SPDR S&P 500 ETF Trust). A Beta value provides insight into how an asset's returns are expected to respond to market swings.
Interpretation of Beta Values
Beta = 1: The asset's volatility is in line with the market. If the market rises or falls, the asset is expected to move correspondingly.
Beta > 1: The asset is more volatile than the market. If the market rises or falls, the asset's price is expected to rise or fall more significantly.
Beta < 1 but > 0: The asset is less volatile than the market. It still moves in the same direction as the market but with less magnitude.
Beta = 0: The asset's returns are not correlated with the market's returns.
Beta < 0: The asset moves in the opposite direction to the market.
Example
A beta of 1.20 relative to the S&P 500 Index or SPY implies that if the S&P's return increases by 1%, the portfolio is expected to increase by 12.0%.
A beta of -0.10 relative to the S&P 500 Index or SPY implies that if the S&P's return increases by 1%, the portfolio is expected to decrease by 0.1%. In practical terms, this implies that the portfolio is expected to be predominantly 'market neutral' .
Calculation & Default Values
The Beta of an asset is calculated by dividing the covariance of the asset's returns with the market's returns by the variance of the market's returns over a certain period (standard period: 1 years, 250 trading days). Hint: It's noteworthy to mention that Beta can also be derived through linear regression analysis, although this technique is not employed in this Beta Indicator.
Formula: Beta = Covariance(Asset Returns, Market Returns) / Variance(Market Returns)
Reference Market: Essentially any reference market index or product can be used. The default reference is the SPY (SPDR S&P 500 ETF Trust), primarily due to its investable nature and broad representation of the market. However, it's crucial to note that Beta can also be calculated by comparing specific underlyings, such as two different stocks or commodities, instead of comparing an asset to the broader market. This flexibility allows for a more tailored analysis of volatility and correlation, depending on the user's specific trading or investment focus.
Look-back Period: The standard look-back period is typically 1-5 years (250-1250 trading days), but this can be adjusted based on the user's preference and the specifics of the trading strategy. For robust estimations, use at least 250 trading days.
Option Delta: An optional feature in the Beta Indicator is the ability to select a specific Delta value if options are written on the underlying asset with Deltas less than 1, providing an estimation of the beta-weighted delta of the position. It involves multiplying the beta of the underlying asset by the delta of the option. This addition allows for a more precise assessment of the underlying asset's correspondence with the overall market in case you are an options trader. The default Delta value is set to 1, representing scenarios where no options on the underlying asset are being analyzed. This default setting aligns with analyzing the direct relationship between the asset itself and the market, without the layer of complexity introduced by options.
Calculation: Simple or Log Returns: In the calculation of Beta, users have the option to choose between using simple returns or log returns for both the asset and the market. The default setting is 'Simple Returns'.
Advantages of Using Beta
Risk Management: Beta provides a clear metric for understanding and managing the risk of a portfolio in relation to market movements.
Portfolio Diversification: By knowing the beta of various assets, investors can create a balanced portfolio that aligns with their risk tolerance and investment goals.
Performance Benchmarking: Beta allows investors to compare an asset's risk-adjusted performance against the market or other benchmarks.
Beta-Weighted Deltas for Options Traders
For options traders, understanding the beta-weighted delta is crucial. It involves multiplying the beta of the underlying asset by the delta of the option. This provides a more nuanced view of the option's risk relative to the overall market. However, it's important to note that the delta of an option is dynamic, changing with the asset's price, time to expiration, and other factors.
NY Open Breakout Strategy - High Liquidity & Favorable RRR Pine Description:
The NY Open Breakout Strategy is an advanced Pine Script indicator tailored for the TradingView platform. This strategy is specifically designed to exploit the high liquidity found during the New York session opening in the Forex market. Its primary goal is to provide traders with an opportunity to engage in positions with lower risk and higher potential profits, thereby ensuring an advantageous risk-to-reward ratio (RRR).
Core Objectives:
Leveraging High Liquidity: Capitalizes on the significant market movements at the New York session opening, known for its high liquidity, to identify strong breakout signals.
Achieving Favorable RRR: By setting strategic stop-loss and take-profit levels, the strategy aims for a higher RRR. This approach can lead to overall profitability, even if the win rate is lower than the loss rate.
Functionality:
Dynamic Breakout Identification: Uses the first 15-minute candle’s high and low after NY open as benchmarks for detecting potential breakouts.
Customizable Stop-Loss & Take-Profit: Provides options to configure stop-loss at the last swing or the previous candle’s close. The take-profit levels are determined based on a favorable risk-reward ratio.
Visual Session Indicators: Includes distinct background coloring and vertical lines to mark the New York session for easy visibility.
Methodology:
This strategy hinges on the premise that the opening of the New York session often triggers key price movements due to an influx of trading activity. By focusing on these moments, our indicator aims to capture strong trends and breakout patterns. The carefully calibrated stop-loss and take-profit settings ensure that each trade aims for a higher potential reward compared to the risk undertaken.
Unique Features:
Enhanced Risk Management: With adaptable risk-reward settings, traders can tailor their trading strategies to align with individual risk appetites.
Personalized User Experience: Offers a range of customizable settings for visual elements, allowing traders to adjust the look and feel of the indicator to their preferences.
Usage Guidelines:
Customize the indicator settings, including the stop-loss reference and risk-reward ratio, to match your trading style.
Watch for 'Buy Enter' and 'Sell Enter' signals during the New York session opening.
Utilize the displayed stop-loss and take-profit levels to effectively manage each trade.
This NY Open Breakout Strategy is ideal for traders who prioritize efficient risk management while aiming to capitalize on the high liquidity periods of the Forex market. The strategy is designed to be robust, providing a pathway to profitability even in scenarios where the number of losing trades surpasses winning ones, thanks to its emphasis on a high risk-to-reward ratio.
BB + Volume Based Coloured BarsVolume Based Coloured Bars:
Most of the time traders are confused about if the price movements were supported by VOLUME .
This indicator colors the bars into volume weighted signals...
When prices go down bars are red and contraversely when up, bars are green. Additionally we have two more colors for each
situation:
PRICE BARS ARE:
DARK RED when prices go down and VOLUME is bigger than 150% of its (default 21 day) average, that indicates us price action is supported by a strong BEARISH VOLUME
RED when prices go down and VOLUME is BETWEEN 50% AND 150% of its (default 21 day) average, at this situation we can think that volume is neither strong nor weak
ORANGE when prices go down and VOLUME is just less than 50% of its (default 21 day) average, so the volume is weak and doesn't support the price action much
DARK GREEN when prices go UP and VOLUME bigger than 150% of its (default 21 day) average, that indicates us price action is supported by a strong BULLISH VOLUME
GREEN when prices go UP and VOLUME is BETWEEN 50% AND 150% of its (default 21 day) average, at this situation we can think that volume is neither strong nor weak
LIGHT GREEN when prices go UP and VOLUME is just less than 50% of its (default 21 day) average, so the volume is weak and doesn't support the price action much
21 day Simple Moving Average used as default value which can be changed in the settings menu,
21 day is considered as a month for STOCK Markets, it would be more accurate to set the value to 30 for CRYPTO CURRENCIES
And Bollinger bands
By Kıvanc Özbilgic thank you
Qullamaggie ADR and Volatility and Price Change IndicatorElevate your trading strategy with Qullamaggie ADR, a dynamic indicator inspired by the Kristjan Qullamaggie trading approach. Gain a deeper understanding of market dynamics, daily price movements, and potential turning points.
Key Features:
Qullamaggie ADR: Assess market volatility through the QullaADR, offering customizable time intervals (5, 10, 15, 20 days) to adapt to various trading styles.
Today's Change: Monitor price changes relative to the low of the current trading day, providing valuable intraday insights.
PrevDay price differentials from the previous day's low, aiding in the identification of potential trend reversals.
Track the percentage change from the opening price, offering a snapshot of intraday market sentiment.
Percent from 10-day SMA: Visualize the percentage difference between the closing price and a 10-day Simple Moving Average (SMA), a key trend-following indicator.
Usage:
Utilize QullaADR to set realistic profit targets and stop-loss levels based on current market conditions.
Identify potential trend shifts by observing changes from the previous day's low with Today's QullaChange.
Incorporate QullaPercent from 10-day SMA for trend confirmation and well-informed trading decisions.
Strategy Inspiration:
QullaADR draws inspiration from the Kristjan Qullamaggie trading strategy, aiming to complement your trading toolkit and enhance decision-making.
Disclaimer:
Trading involves risk, and past performance is not indicative of future results. Use this indicator as a supplementary tool within a comprehensive trading strategy.
Version: 1.0
TrendLine ScythesTrendline Scythes is a script designed to automatically detect and draw special curved trendlines, resembling scythes or blades, based on pivotal points in price action. These trendlines adapt to the volatility of the market, providing a unique perspective on trend dynamics.
🔲 Methodology
Traditional trendlines connect consecutive pivot points on a price chart, providing a linear representation of trend direction. However, this script employs a distinctive methodology by automatically detecting price pivots and then calculating special curved trendlines based on the Average True Range (ATR) of the price. This introduces a curvature to the trendlines, resembling scythes, offering a unique way to interpret market trends.
🔲 Auto Breakout and Target Detection
Trendline Scythes includes features for automatic breakout detection, signaling potential trend changes. Additionally, the script assists in target detection, helping traders set realistic and data-driven profit-taking levels based on market volatility and user adjustment.
🔲 Utility
Trend Confirmation - Use Trendline Scythes to confirm existing trends by observing how price interacts with the curved trendlines.
Breakout Signals - Auto-detection of breakouts adds a proactive element to your trading strategy, helping you stay ahead of potential trend reversals.
Target Setting - Utilize the script to set profit-taking targets based on volatility, aligning with the current market conditions.
🔲 Settings
Pivot Length - Swing detection length
Scythe Length - Adjusts the length of the scythes blade
Sensitivity - Controls how restrained the target calculation is, higher values will result in tighter targets.
🔲 Alerts
Breakout
Breakdown
Target Reached
Target Invalidated
As well as the option to trigger 'any alert' call.
Trendline Scythes is a versatile tool combining the benefits of traditional trendlines with the dynamic adaptability of curved lines for a unique approach to trend analysis.
ATR Based Support and Resistance Zones [UAlgo]🔶 ATR Based Support and Resistance Indicator 🔶
The ATR Based Support and Resistance Indicator is a technical tool designed for TradingView users to analyze and visualize support and resistance levels based on the Average True Range (ATR) indicator. ATR is a widely used volatility indicator that measures the average trading range of an asset over a specified period. This indicator utilizes ATR values to dynamically calculate and display support and resistance zones on the price chart.
🔶 Indicator Settings
ATR Length: This setting allows users to specify the length of the period over which the ATR indicator is calculated. A longer period results in a smoother ATR value, providing a broader view of market volatility.
ATR Multiplier: The ATR multiplier enables users to adjust the sensitivity of the support and resistance zones. Increasing the multiplier widens the zones, while decreasing it narrows them, allowing traders to customize the indicator according to their trading preferences and market conditions.
🔶 Key Features
Trend Identification: The indicator identifies potential support and resistance zones based on the relationship between the ATR values and the price action. When the current ATR value exceeds a certain threshold determined by the ATR multiplier, it indicates a significant price movement, potentially signaling a trend reversal or continuation.
Impulse Detection: The indicator detects impulses in price movement by comparing the current ATR value with the previous value. An impulse is identified when the current ATR value is greater than or equal to the previous value, indicating a sudden surge in market volatility.
Bearish Impulse Example :
Bullish Impulse Example:
Color-Coded Impulses: Impulse candles are color-coded for easy visualization of bullish (green) and bearish (red) impulses. This feature helps traders quickly identify potential trading opportunities and market trends.
Wick Percentage Calculation: The indicator calculates the percentage of the wick length relative to the true range of each candle. Users can specify a threshold percentage, and when the wick percentage exceeds this threshold, it indicates a potential support or resistance zone.
Support and Resistance Zones: The indicator plots support and resistance zones based on the calculated wick percentage. These zones are visualized as rectangular boxes on the price chart, highlighting areas where price reversals or significant price movements are likely to occur.
Customizable Styling: Users can customize the styling of support and resistance zones, including line style, width, border color, and background color. This flexibility allows traders to adapt the indicator's visual appearance to their personal preferences and trading strategies.
🔶 Usage
Traders can utilize the ATR Based Support and Resistance Indicator in various ways :
Trend Direction Analysis: By observing the color-coded impulse candles, traders can identify the prevailing trend direction (bullish or bearish) based on the frequency and magnitude of impulses.
Entry and Exit Signals: Traders can use the detected support and resistance zones as potential entry and exit points for their trades. When price approaches these zones, it may indicate a trading opportunity or signal the need to adjust stop-loss or take-profit levels.
Confirmation Tool: The indicator serves as a confirmation tool for identifying potential reversal or continuation signals in conjunction with other technical indicators or trading strategies.
Squeeze Momentum TD - A Revisited Version of the TTM SqueezeDescription:
The "Squeeze Momentum TD" is our unique take on the highly acclaimed TTM Squeeze indicator, renowned in the trading community for its efficiency in pinpointing market momentum. This script is a tribute and an extension to the foundational work laid by several pivotal figures in the trading industry:
• John Carter, for his creation of the TTM Squeeze and TTM Squeeze Pro, which revolutionized the way traders interpret volatility and momentum.
• Lazybear, whose original interpretation of the TTM Squeeze, known as the "Squeeze Momentum Indicator", provided an invaluable foundation for further development.
• Makit0, who evolved Lazybear's script to incorporate enhancements from the TTM Squeeze Pro, resulting in the "Squeeze PRO Arrows".
Our script, "Squeeze Momentum TD", represents a custom version developed after reviewing all variations of the TTM Squeeze indicator. This iteration focuses on a distinct visualization approach, featuring an overlay band on the chart for an user-friendly experience. We've distilled the essence of the TTM Squeeze and its advanced version, the TTM Squeeze Pro, into a form that emphasizes intuitive usability while retaining comprehensive analytical depth.
Features:
-Customizable Bollinger Bands and Keltner Channels: These core components of the TTM Squeeze.
-Dynamic Squeeze Conditions: Ranging from No Squeeze to High Compression.
-Momentum Oscillator: A linear regression-based momentum calculation, offering clear insights into market trends.
-User-Defined Color Schemes: Personalize your experience with adjustable colors for bands and plot shapes.
-Advanced Alert System: Alerts for key market shifts like Bull Watch Out, Bear Watch Out, and Momentum shifts.
-Adaptive Band Widths: Modify the band widths to suit your preference.
How to use it?
• Transition from Light Green to Dark Green: Indicates a potential end to the bullish momentum. This 'Bull Watch Out' signal suggests that traders should be cautious about continuing bullish trends.
• Transition from Light Red to Dark Red: Signals that the bearish momentum might be fading, triggering a 'Bear Watch Out' alert. It's a hint for traders to be wary of ongoing bearish trends.
• Shift from Dark Green to Light Green: This change suggests an increase in bullish momentum. It's an indicator for traders to consider bullish positions.
• Change from Dark Red to Light Red: Implies that bearish momentum is picking up. Traders might want to explore bearish strategies under this condition.
• Rapid Change from Light Red to Light Green: This swift shift indicates a quick transition from bearish to bullish sentiment. It's a strong signal for traders to consider switching to bullish positions.
• Quick Shift from Light Green to Light Red: Demonstrates a speedy change from bullish to bearish momentum. It suggests that traders might want to adjust their strategies to align with the emerging bearish trend.
Acknowledgements:
Special thanks to Beardy_Fred for the significant contributions to the development of this script. This work stands as a testament to the collaborative spirit of the trading community, continuously evolving to meet the demands of diverse trading strategies.
Disclaimer:
This script is provided for educational and informational purposes only. Users should conduct their own due diligence before making any trading decisions.
QQE MOD + SSL Hybrid + Waddah Attar Explosion IndicatorINDICATOR PURPOSE
This indicator is designed to complement my original QQE MOD + SSL Hybrid + Waddah Attar Explosion strategy.
Multiple users have requested that I convert the strategy to an indicator because alertconditions do not work on strategies and people want to specific set alerts for BUY, SELL, CLOSE BUY and CLOSE SELL. This can only be achieved using alertcondition().
This indicator functions in the exact same way as the strategy, but it doesn't have any backtesting functionality. I recomment that you use the original QQE MOD + SSL Hybrid + Waddah Attar Explosion strategy for parameter tuning and backtesting, then if you need more control on alerts you can use this indicator for that purpose.
Only other difference is that I have added grey exit labels on the chart since it's not obvious where the exits would happen like it was in the strategy version.
CREDITS
QQE MOD byMihkel00
SSL Hybrid by Mihkel00
Waddah Attar Explosion by shayankm
ATR Percentage ValuesThis indicator is created to give you the daily ATR 2% and 10% values for any product that you are looking at. The way the indicator is designed is to only show the most recent 2 and 10 percent values on any chart and will not show you any other number. If you are hovering over price that occurred in the past it will show zeros on the values. To get the right values, take your mouse off of the chart and it will show you the values.
The way this indicator is coded will give you the daily ATR numbers no matter what chart timeframe you are currently looking at. The idea is to save time and make sure you do not make a mistake getting the wrong value.
*** To make this show up on the status line, click on the settings, click on the style box and check the box "VALUES IN STATUS LINE" ****
ATR Divergences [UAlgo]Divergence is a concept in financial markets that highlights inconsistencies between the price of an asset and a given indicator. This script focuses on identifying divergences using the Average True Range (ATR). Divergence occurs when there is a disparity between the direction of the price and the oscillator, providing valuable insights for traders anticipating potential trend reversals.
This script employs pivot points (with using High-Low values of the candles) to identify potential divergences between the oscillator (ATR) and price movements. Here's how each type of divergence is determined:
Key Features:
Regular Bullish Divergence:
Oscillator registers a higher low.
Price records a lower low.
Indicative of potential upward reversal.
Hidden Bullish Divergence:
Oscillator indicates a lower low.
Price exhibits a higher low.
Signals a concealed bullish continuation pattern.
Regular Bearish Divergence:
Oscillator shows a lower high.
Price marks a higher high.
Suggests a possible downward reversal.
Hidden Bearish Divergence:
Oscillator reflects a higher high.
Price displays a lower high.
Indicates a hidden bearish continuation pattern.
Usage and Customization:
ATR Length: Adjustable parameter for customizing the Average True Range calculation period.
Plot Options: Choose to display Regular Bullish, Hidden Bullish, Regular Bearish, and/or Hidden Bearish divergences.
Wait for Candle Close: Option to wait for candle closure before plotting signals.
How to Interpret:
Regular divergences may indicate potential trend reversals, while hidden divergences suggest a continuation of the current trend. Traders can leverage these signals to make informed decisions in their trading strategies.
Feel free to customize the parameters based on your trading preferences. Happy Trading!
AUTO STOP LEVELThis is a simple yet highly efficient code that calculates stop levels, taking into account the market trend and its volatility.
This script calculates and displays (as a white point in the chart) a stop-loss by considering both volatility and the nearest support/resistance point.
The stop level is determined as the average of three specific values: firstly, two distinct volatility indicators - ATR and Bollinger Bands, and finally, the nearest support/resistance provided by the Supertrend indicator.
Moreover, it analyzes the trend to determine whether the stop should be set for long or short positions, providing insights into the most probable path of future prices. For instance, if the calculated stop level is below the current market prices, it suggests taking long positions, and vice versa.
Customization options include fine-tuning the standard parameters for the three indicators used in averaging and selecting multiple time frames.
RVOL/ExpVol/ATR/ExpRGives 4 values:
- Relative Volume: needs the first 5M candle to have closed to give a good value then updates every 5 minute throughout the day. Compares to the historical Volume on the last 30 days on the SAME time period from Open.
Most indicators compare to the average volume on any 30min period, thus highly overestimating the RVOL at Open when Volume is higher.
- Expected Volume on the day in Million of shares given the RVOL.
- Average True Range on the last 14 days
- Expected Range on the day given the ATR & the RVOL.
Warning: Expected Range is just an estimation from data I gathered but the Day's range can be way higher or lower than that. Also if RVOL > 3 then the estimation works less & less.
As this was originally coded just for me I don't ask user input for things like the lookback period or the refresh period. You have to make a copy & go in the code and modify it if you want to change it.
Also the data displayed is given for the candle on which your cursor is !
Works best on 5-minute and above chart timeframes.
Kaufman Efficiency Ratio-Based Risk PercentageOVERVIEW
The Kaufman Efficiency Ratio-Based Exposure Management indicator uses the Kaufman Efficiency Ratio (KER) to calculate how much you should risk per trade.
If KER is high, then the indicator will tell you to risk more per trade.
A high KER value indicates a trending market, so if you are a trend trader, it makes sense to risk more during these times.
If KER is low, then the indicator will tell you to risk less per trade.
A low KER value indicates a trending market, so if you are a trend trader, it makes sense to risk less during these times.
CONCEPTS
The Kaufman Efficiency Ratio (also known as the Efficiency Ratio, KER, or ER) is a separate indicator developed by Perry J. Kaufman and first published in Kaufman's book, "New Trading Systems and Methods" in 1987.
The KER used to measure the efficiency of a financial instrument's price movement. It is calculated as follows:
KER = (change in price over x bars) / (sum of absolute price changes over x bars)
The first part of the formula, "change in price over x bars" measures the difference between the current close price and the close price x bars ago. The second part of the formula "sum of absolute price changes over x bars" measures the sum of the |open-close| range of each bar between now and x bars ago.
If there is a high change in price over x bars relative to the sum of absolute price changes over x bars, a trending/volatile market is likely in place.
If there is a low change in price over x bars relative to the sum of absolute price changes over x bars, a ranging/choppy market is likely in place.
If you are a trend trader, you can assume that entries taken during high KER periods are more likely to lead to a trend. This indicator helps capitalize on that assumption by increasing risk % per trade during high KER periods, and decreasing risk % per trade during low KER periods.
It uses the following formulas to calculate a KER-adjusted risk % per trade:
Linearly-increasing risk % = min risk + (KER * (max risk - min risk))
Exponentially-increasing risk % = min risk + ((KER^n) * (max risk - min risk))
min risk = the smallest amount you'd be willing to risk on a trade
max risk = the largest amount you'd be willing to risk on a trade
KER = the current Kaufman Efficiency Ratio value
n = an exponent factor used to control the rate of increase of the risk %
Here is an example of how these formulas work:
Assuming that min risk is 0.5%, max risk is 2%, and KER is 0.8 (indicating a trending market), we can calculate the following risk per trade amounts:
Linearly-increasing risk % = 0.5 + (0.8 * (2 - 0.5)) = 1.7%
Exponentially-increasing risk % = 0.5 + ((0.8^3) * (2 - 0.5)) = 1.27%
Now, lets do the same calculations with a lower KER of 0.2 , which indicates a choppy market:
Linearly-increasing risk % = 0.5 + (0.2 * (2 - 0.5)) = 0.8%
Exponentially-increasing risk % = 0.5 + ((0.2^3) * (2 - 0.5)) = 0.51%
With a high KER, we risk more per trade to capitalize on the higher chance of a trending market. With a lower KER, we risk less per trade to protect ourselves from the higher chance of a choppy market.
