The Flash-Strategy with Minervini Stage Analysis QualifierThe Flash-Strategy (Momentum-RSI, EMA-crossover, ATR) with Minervini Stage Analysis Qualifier
Introduction
Welcome to a comprehensive guide on a cutting-edge trading strategy I've developed, designed for the modern trader seeking an edge in today's dynamic markets. This strategy, which I've honed through my years of experience in the trading arena, stands out for its unique blend of technical analysis and market intuition, tailored specifically for use on the TradingView platform.
As a trader with a deep passion for the financial markets, my journey began several years ago, driven by a relentless pursuit of a trading methodology that is both effective and adaptable. My background in trading spans various market conditions and asset classes, providing me with a rich tapestry of experiences from which to draw. This strategy is the culmination of that journey, embodying the lessons learned and insights gained along the way.
The cornerstone of this strategy lies in its ability to generate precise long signals in a Stage 2 uptrend and equally accurate short signals in a Stage 4 downtrend. This approach is rooted in the principles of trend following and momentum trading, harnessing the power of key indicators such as the Momentum-RSI, EMA Crossover, and Average True Range (ATR). What sets this strategy apart is its meticulous design, which allows it to adapt to the ever-changing market conditions, providing traders with a robust tool for navigating both bullish and bearish scenarios.
This strategy was born out of a desire to create a trading system that is not only highly effective in identifying potential trade setups but also straightforward enough to be implemented by traders of varying skill levels. It's a reflection of my belief that successful trading hinges on clarity, precision, and disciplined execution. Whether you are a seasoned trader or just beginning your journey, this guide aims to provide you with a comprehensive understanding of how to harness the full potential of this strategy in your trading endeavors.
In the following sections, we will delve deeper into the mechanics of the strategy, its implementation, and how to make the most out of its features. Join me as we explore the nuances of a strategy that is designed to elevate your trading to the next level.
Stage-Specific Signal Generation
A distinctive feature of this trading strategy is its focus on generating long signals exclusively during Stage 2 uptrends and short signals during Stage 4 downtrends. This approach is based on the widely recognized market cycle theory, which divides the market into four stages: Stage 1 (accumulation), Stage 2 (uptrend), Stage 3 (distribution), and Stage 4 (downtrend). By aligning the signal generation with these specific stages, the strategy aims to capitalize on the most dynamic and clear-cut market movements, thereby enhancing the potential for profitable trades.
1. Long Signals in Stage 2 Uptrends
• Characteristics of Stage 2: Stage 2 is characterized by a strong uptrend, where prices are consistently rising. This stage typically follows a period of accumulation (Stage 1) and is marked by increased investor interest and bullish sentiment in the market.
• Criteria for Long Signal Generation: Long signals are generated during this stage when the technical indicators align with the characteristics of a Stage 2 uptrend.
• Rationale for Stage-Specific Signals: By focusing on Stage 2 for long trades, the strategy seeks to enter positions during the phase of strong upward momentum, thus riding the wave of rising prices and investor optimism. This stage-specific approach minimizes exposure to less predictable market phases, like the consolidation in Stage 1 or the indecision in Stage 3.
2. Short Signals in Stage 4 Downtrends
• Characteristics of Stage 4: Stage 4 is identified by a pronounced downtrend, with declining prices indicating prevailing bearish sentiment. This stage typically follows the distribution phase (Stage 3) and is characterized by increasing selling pressure.
• Criteria for Short Signal Generation: Short signals are generated in this stage when the indicators reflect a strong bearish trend.
• Rationale for Stage-Specific Signals: Targeting Stage 4 for shorting capitalizes on the market's downward momentum. This tactic aligns with the natural market cycle, allowing traders to exploit the downward price movements effectively. By doing so, the strategy avoids the potential pitfalls of shorting during the early or late stages of the market cycle, where trends are less defined and more susceptible to reversals.
In conclusion, the strategy’s emphasis on stage-specific signal generation is a testament to its sophisticated understanding of market dynamics. By tailoring the long and short signals to Stages 2 and 4, respectively, it leverages the most compelling phases of the market cycle, offering traders a clear and structured approach to aligning their trades with dominant market trends.
Strategy Overview
At the heart of this trading strategy is a philosophy centered around capturing market momentum and trend efficiency. The core objective is to identify and capitalize on clear uptrends and downtrends, thereby allowing traders to position themselves in sync with the market's prevailing direction. This approach is grounded in the belief that aligning trades with these dominant market forces can lead to more consistent and profitable outcomes.
The strategy is built on three foundational components, each playing a critical role in the decision-making process:
1. Momentum-RSI (Relative Strength Index): The Momentum-RSI is a pivotal element of this strategy. It's an enhanced version of the traditional RSI, fine-tuned to better capture the strength and velocity of market trends. By measuring the speed and change of price movements, the Momentum-RSI provides invaluable insights into whether a market is potentially overbought or oversold, suggesting possible entry and exit points. This indicator is especially effective in filtering out noise and focusing on substantial market moves.
2. EMA (Exponential Moving Average) Crossover: The EMA Crossover is a crucial component for trend identification. This strategy employs two EMAs with different timeframes to determine the market trend. When the shorter-term EMA crosses above the longer-term EMA, it signals an emerging uptrend, suggesting a potential long entry. Conversely, a crossover below indicates a possible downtrend, hinting at a short entry opportunity. This simple yet powerful tool is key in confirming trend directions and timing market entries.
3. ATR (Average True Range): The ATR is instrumental in assessing market volatility. This indicator helps in understanding the average range of price movements over a given period, thus providing a sense of how much a market might move on a typical day. In this strategy, the ATR is used to adjust stop-loss levels and to gauge the potential risk and reward of trades. It allows for more informed decisions by aligning trade management techniques with the current volatility conditions.
The synergy of these three components – the Momentum-RSI, EMA Crossover, and ATR – creates a robust framework for this trading strategy. By combining momentum analysis, trend identification, and volatility assessment, the strategy offers a comprehensive approach to navigating the markets. Whether it's capturing a strong trend in its early stages or identifying a potential reversal, this strategy aims to provide traders with the tools and insights needed to make well-informed, strategically sound trading decisions.
Detailed Component Analysis
The efficacy of this trading strategy hinges on the synergistic functioning of its three key components: the Momentum-RSI, EMA Crossover, and Average True Range (ATR). Each component brings a unique perspective to the strategy, contributing to a well-rounded approach to market analysis.
1. Momentum-RSI (Relative Strength Index)
• Definition and Function: The Momentum-RSI is a modified version of the classic Relative Strength Index. While the traditional RSI measures the velocity and magnitude of directional price movements, the Momentum-RSI amplifies aspects that reflect trend strength and momentum.
• Significance in Identifying Trend Strength: This indicator excels in identifying the strength behind a market's move. A high Momentum-RSI value typically indicates strong bullish momentum, suggesting the potential continuation of an uptrend. Conversely, a low Momentum-RSI value signals strong bearish momentum, possibly indicative of an ongoing downtrend.
• Application in Strategy: In this strategy, the Momentum-RSI is used to gauge the underlying strength of market trends. It helps in filtering out minor fluctuations and focusing on significant movements, providing a clearer picture of the market's true momentum.
2. EMA (Exponential Moving Average) Crossover
• Definition and Function: The EMA Crossover component utilizes two exponential moving averages of different timeframes. Unlike simple moving averages, EMAs give more weight to recent prices, making them more responsive to new information.
• Contribution to Market Direction: The interaction between the short-term and long-term EMAs is key to determining market direction. A crossover of the shorter EMA above the longer EMA is an indicator of an emerging uptrend, while a crossover below signals a developing downtrend.
• Application in Strategy: The EMA Crossover serves as a trend confirmation tool. It provides a clear, visual representation of the market's direction, aiding in the decision-making process for entering long or short positions. This component ensures that trades are aligned with the prevailing market trend, a crucial factor for the success of the strategy.
3. ATR (Average True Range)
• Definition and Function: The ATR is an indicator that measures market volatility by calculating the average range between the high and low prices over a specified period.
• Role in Assessing Market Volatility: The ATR provides insights into the typical market movement within a given timeframe, offering a measure of the market's volatility. Higher ATR values indicate increased volatility, while lower values suggest a calmer market environment.
• Application in Strategy: Within this strategy, the ATR is instrumental in tailoring risk management techniques, particularly in setting stop-loss levels. By accounting for the market's volatility, the ATR ensures that stop-loss orders are placed at levels that are neither too tight (risking premature exits) nor too loose (exposing to excessive risk).
In summary, the combination of Momentum-RSI, EMA Crossover, and ATR in this trading strategy provides a comprehensive toolkit for market analysis. The Momentum-RSI identifies the strength of market trends, the EMA Crossover confirms the market direction, and the ATR guides in risk management by assessing volatility. Together, these components form the backbone of a strategy designed to navigate the complexities of the financial markets effectively.
1. Signal Generation Process
• Combining Indicators: The strategy operates by synthesizing signals from the Momentum-RSI, EMA Crossover, and ATR indicators. Each indicator serves a specific purpose: the Momentum-RSI gauges trend momentum, the EMA Crossover identifies the trend direction, and the ATR assesses the market’s volatility.
• Criteria for Signal Validation: For a signal to be considered valid, it must meet specific criteria set by each of the three indicators. This multi-layered approach ensures that signals are not only based on one aspect of market behavior but are a result of a comprehensive analysis.
2. Conditions for Long Positions
• Uptrend Confirmation: A long position signal is generated when the shorter-term EMA crosses above the longer-term EMA, indicating an uptrend.
• Momentum-RSI Alignment: Alongside the EMA crossover, the Momentum-RSI should indicate strong bullish momentum. This is typically represented by the Momentum-RSI being at a high level, confirming the strength of the uptrend.
• ATR Consideration: The ATR is used to fine-tune the entry point and set an appropriate stop-loss level. In a low volatility scenario, as indicated by the ATR, the stop-loss can be set tighter, closer to the entry point.
3. Conditions for Short Positions
• Downtrend Confirmation: Conversely, a short position signal is indicated when the shorter-term EMA crosses below the longer-term EMA, signaling a downtrend.
• Momentum-RSI Confirmation: The Momentum-RSI should reflect strong bearish momentum, usually seen when the Momentum-RSI is at a low level. This confirms the bearish strength of the market.
• ATR Application: The ATR again plays a role in determining the stop-loss level for the short position. Higher volatility, as indicated by a higher ATR, would warrant a wider stop-loss to accommodate larger market swings.
By adhering to these mechanics, the strategy aims to ensure that each trade is entered with a high probability of success, aligning with the market’s current momentum and trend. The integration of these indicators allows for a holistic market analysis, providing traders with clear and actionable signals for both entering and exiting trades.
Customizable Parameters in the Strategy
Flexibility and adaptability are key features of this trading strategy, achieved through a range of customizable parameters. These parameters allow traders to tailor the strategy to their individual trading style, risk tolerance, and specific market conditions. By adjusting these parameters, users can fine-tune the strategy to optimize its performance and align it with their unique trading objectives. Below are the primary parameters that can be customized within the strategy:
1. Momentum-RSI Settings
• Period: The lookback period for the Momentum-RSI can be adjusted. A shorter period makes the indicator more sensitive to recent price changes, while a longer period smoothens the RSI line, offering a broader view of the momentum.
• Overbought/Oversold Thresholds: Users can set their own overbought and oversold levels, which can help in identifying extreme market conditions more precisely according to their trading approach.
2. EMA Crossover Settings
• Timeframes for EMAs: The strategy uses two EMAs with different timeframes. Traders can modify these timeframes, choosing shorter periods for a more responsive approach or longer periods for a more conservative one.
• Source Data: The choice of price data (close, open, high, low) used in calculating the EMAs can be varied depending on the trader’s preference.
3. ATR Settings
• Lookback Period: Adjusting the lookback period for the ATR impacts how the indicator measures volatility. A longer period may provide a more stable but less responsive measure, while a shorter period offers quicker but potentially more erratic readings.
• Multiplier for Stop-Loss Calculation: This parameter allows traders to set how aggressively or conservatively they want their stop-loss to be in relation to the ATR value.
Here are the standard settings:
圖表形態
Doji Candle _ ThaerAbusalahIdentify doji candles in heikin ashi .
the indicator will search for a doji candles that are same in upper and lower wick by 50% and more .
Breakout Probability Indicator (FinnoVent)The Breakout Probability Indicator is a cutting-edge tool designed for traders looking to gauge the likelihood of price breakouts above or below current levels. This indicator intelligently combines Average True Range (ATR) and recent price action to provide a probabilistic insight into potential future price movements, enhancing strategy formulation and risk management.
Core Features:
Volatility Assessment: Utilizes the Average True Range (ATR) to measure market volatility, a critical component in identifying potential breakout scenarios.
Dynamic Price Levels: Calculates and plots potential breakout levels based on recent highs and lows, adjusted for current market volatility.
Probability Estimation: Provides an estimation of the probability of reaching these breakout levels, using a responsive logarithmic scale for improved sensitivity.
Real-time Updates: Continuously updates probabilities and levels as new price information becomes available, ensuring traders have the most current data at their fingertips.
Usage:
Add this indicator to any chart in TradingView to see the upper and lower breakout levels, each accompanied by a dynamically calculated probability percentage. These probabilities help traders understand the potential for price movement in either direction, forming a basis for entry or exit decisions, stop-loss placement, and strategy adjustments.
Compliance and Guidelines:
This script is shared for educational purposes, offering a novel approach to understanding market dynamics. It does not constitute financial advice and should be used as part of a comprehensive trading strategy. Traders are encouraged to backtest and paper-trade any new tool before live implementation to ensure it aligns with their trading style and risk tolerance.
Time Matrix TableICT stresses time and liquidity levels in his teachings. This table helps to easily locate these key Time-based price levels. You can use these levels to determine your directional bias and to help generate your narrative for where the market is going.
This indicator creates a table that gives you the price for the following liquidity levels:
PDO - Previous Day Open
PDH - Previous Day High
PDL - Previous Day Low
PDC - Previous Day Close
PDEQ - Equilibrium of the previous day's range. (Calculated by math.abs(((pdh-pdl)/2)+pdl))
PWH - Previous Week High
PWL - Previous Week Low
PDH2 - Two Days Back High
PDL2 - Two Days Back Low
PDH3 - Three Days Back High
PDL3 - Three Days Back Low
And gives you the opening price for the following times:
Daily Open - 6:00pm open for current session
1:30 AM
3:00 AM
4:00 AM
Midnight Open
6:00 AM
7:30 AM
8:30 AM
NY Open
10:00 AM
12:00 PM
NY PM - 1:30pm
2:00 PM
The levels are sorted descending in price in the table, with the background colored based on their relation to price. The prices are also plotted on the chart based on the range you specify in relation to the current price. These lines are also colored based on their relation to price.
This indicator does not give you anything but the price at a specific time, you must determine your own bias and narrative based on the levels that are given.
ZenTrend Price CyclesZenTrend attempts to plot the cycles that occur as the price cycles between the top and bottom of long- and short-term price linear regression channels.
The indicator observes a fast (35-period) and a slow (100-period) linear regression channel and plots their slopes on an oscillator. When the slope of the fast channel crosses above or below the slope of the slow channel, a signal is plotted.
The red line is the slope of the fast channel; blue is the slope of the slow channel
A green dot and background indicates the slope of recent price action has crossed above the slope of long-term price action.
A red dot and background indicates the slope of recent price action has crossed below the slope of long-term price action.
A gray dot indicates the slope of recent price action is slowing. The difference between the long- and short-term slopes is narrowing.
Here are things I look for when observing price cycles
Where does the cross occur? Crosses high above or below the 'zero line' indicate a more extreme change in price channel slopes.
Flat line: crosses that occur while the lines are flat often indicate chop.
"Curve" of the line - a cross that occurs as the slope lines are starting to curve up/down indicates a sharper and more extreme change in price channel slope.
Smallest Swing [Truth Indie]This indicator is designed to test the smallest swing draw using the swing capture concept of the Pivot Points High Low indicator, setting the length to 1 for all periods, and combining it with price action that I think makes sense.
Example of a valid swing high.
Example of a valid swing low.
Catching Trend Reversals by shorting tops and buying bottomsHOLP (High of the low period) and LOHP (Low of the high period)
Catching Trend Reversals by shorting tops and buying bottoms
using this Swing High/Low Indicator
Trading Strategy comes from Mastering the Trade, by John Carter pg 300.
Trading Rules for Sells, Buys are reversed
1. Identifying a trending market, where today's price is making a 20-day high (17-18 day highs are also fine)
Note this is configurable by setting the trending period variable (defaults to 20)
For example if price is making a 20 period high or 20 period low, it will show a triangle up/down above the candle.
2. Identify the high bar in the uptrend
3. Go short once the price action closes below the low of this high bar
4. The initial stop is the high of the high bar.
5. If you are in the trade on the third day or period, use a 2 bar trailing stop.
You can check 2-bar trailing stop to draw the line, defaults to off.
Stop is indicated by the white dot.
Code Converted from TradeStation EasyLanguage
I can't find the original source anymore for the swing high/low plots, but if someone knows,
let me know and I'll credit here.
EMA Hafeezullah ReversalTitle: Enhanced EMA Breakout Strategy for Buy and Sell Signals
Description:
This script is an enhanced version of the traditional EMA (Exponential Moving Average) Breakout strategy, designed to provide clear buy and sell signals on price charts. The strategy revolves around a 5-period EMA, which helps traders identify potential breakout points in the market.
How It Works:
EMA Calculation: The script calculates a 5-period EMA, which smooths out price movements to identify the underlying trend.
Buy Signal Logic: A buy signal is generated when the previous candle closes below the EMA, and the current high is greater than the previous high. This indicates potential bullish momentum as the price breaks above the EMA.
Sell Signal Logic: A sell signal is triggered when the previous candle closes above the EMA, and the current close is lower than the previous low. This suggests bearish momentum as the price breaks below the EMA.
Cooldown Period: To avoid frequent signals and potential false breakouts, the script imposes a cooldown period. A new signal can only be generated if a certain number of bars (defined by cooldownBars) have passed since the last signal.
Signal Visualization: Buy signals are marked with green upward triangles below the bars, and sell signals with red downward triangles above the bars.
EMA Visualization: The 5-period EMA is plotted for reference, providing a visual representation of the current trend and potential breakout points.
Usage:
Ideal for intraday and short-term trading.
Can be applied to various asset classes including stocks, forex, and cryptocurrencies.
Best used in conjunction with other technical analysis tools for confirmation and to determine exit points.
Pine Script Version: The script is written in Pine Script version 5.
Originality and Usefulness:
This script stands out due to its simplicity and effectiveness in identifying breakout points. The addition of a cooldown period helps filter out noise and increases the reliability of the signals. It's a valuable tool for traders focusing on momentum and breakout strategies.
Trailing Stop-Loss Indicator (FinnoVent)The Dynamic 9 EMA Trailing Stop-Loss Indicator is a specialized tool designed for the TradingView community to enhance risk management in trading. This script dynamically adjusts a trailing stop-loss level based on the position of the price relative to a 9-period Exponential Moving Average (EMA), offering traders a systematic approach to protect potential profits and limit downside risk.
Functionality:
Adaptive Trailing Stop: The indicator calculates a trailing stop-loss that adjusts with the 9 EMA, providing a responsive method to secure gains or prevent extensive losses.
EMA Trend Indicator: The 9-period EMA serves as a momentum indicator, with the script adjusting the trailing stop-loss accordingly — above the EMA for short positions and below for long positions.
Entry Signal Visualization: Entry signals are visualized on the chart, indicating potential long and short positions based on price crossovers with the EMA.
Application:
This indicator is ideal for traders who utilize technical analysis to make informed decisions. By automatically adjusting the stop-loss level to the evolving market conditions, it is particularly useful for:
Day traders looking to capitalize on short-term price movements.
Swing traders aiming to secure positions during more extended market waves.
Any trading strategy that benefits from dynamic stop-loss management.
Usage:
To use the indicator, simply add it to your TradingView chart, and it will automatically plot the trailing stop levels. The green and red lines represent the trailing stops for long and short positions, respectively, providing clear visual cues for potential exit points.
Compliance with TradingView House Rules:
This script is provided for educational purposes and does not constitute investment advice. It is a unique creation that has been developed to contribute to the TradingView community by offering a tool that helps traders manage their trades more effectively.
Candlestick Patterns [NAS Algo]Candlestick Patterns plots most commonly used chart patterns to help and understand the market structure.
Bullish Reversal Patterns:
Hammer:
Appearance: Small body near the high, long lower shadow.
Interpretation: Indicates potential bullish reversal after a downtrend.
Inverted Hammer:
Appearance: Small body near the low, long upper shadow.
Interpretation: Signals potential bullish reversal, especially when the preceding trend is bearish.
Three White Soldiers:
Appearance: Three consecutive long bullish candles with higher closes.
Interpretation: Suggests a strong reversal of a downtrend.
Bullish Harami:
Appearance: Small candle (body) within the range of the previous large bearish candle.
Interpretation: Implies potential bullish reversal.
Bearish Reversal Patterns:
Hanging Man:
Appearance: Small body near the high, long lower shadow.
Interpretation: Suggests potential bearish reversal after an uptrend.
Shooting Star:
Appearance: Small body near the low, long upper shadow.
Interpretation: Indicates potential bearish reversal, especially after an uptrend.
Three Black Crows:
Appearance: Three consecutive long bearish candles with lower closes.
Interpretation: Signals a strong reversal of an uptrend.
Bearish Harami:
Appearance: Small candle (body) within the range of the previous large bullish candle.
Interpretation: Implies potential bearish reversal.
Dark Cloud Cover:
Appearance: Bearish reversal pattern where a bullish candle is followed by a bearish candle that opens above the high of the previous candle and closes below its midpoint.
Continuation Patterns:
Rising Three Methods:
Appearance: Consists of a long bullish candle followed by three small bearish candles and another bullish candle.
Interpretation: Indicates the continuation of an uptrend.
Falling Three Methods:
Appearance: Consists of a long bearish candle followed by three small bullish candles and another bearish candle.
Interpretation: Suggests the continuation of a downtrend.
Gravestone Doji:
Appearance: Doji candle with a long upper shadow, little or no lower shadow, and an opening/closing price near the low.
Interpretation: Signals potential reversal, particularly in an uptrend.
Long-Legged Doji:
Appearance: Doji with long upper and lower shadows and a small real body.
Interpretation: Indicates indecision in the market and potential reversal.
Dragonfly Doji:
Appearance: Doji with a long lower shadow and little or no upper shadow.
Interpretation: Suggests potential reversal, especially in a downtrend.
FalconRed 3 Candlestick LevelsThis Pine Script indicator is designed to enhance price action analysis by identifying specific candle patterns that signal potential buying and selling levels. The analysis is based on the characteristics of the current candle and its two immediate predecessors.
For identifying buying levels, the script examines the wicks of the candles, highlighting areas where buying and selling struggle is evident. The indicator recognizes significant breaks above wick levels, especially when followed by a subsequent candle with a lower wick. This combination suggests that previous selling pressure has been challenged and overcome.
Buy breakout and retest levels are highlighted with green color, providing a clear visual indication of potential buying opportunities. The indicator draws horizontal lines that extend to the right, offering insights into the frequency of retests and the recurrence of similar patterns in specific price zones, thereby confirming and reinforcing the observed price action.
Similarly, the indicator scrutinizes the selling side, pinpointing breakdown and retest levels. These areas are highlighted with red color, aiding in the identification of potential selling opportunities.
This indicator serves as a valuable tool for analyzing price action levels and visualizing buying and selling areas. It can be effectively combined with other technical indicators to enhance confidence in trading decisions. Gain deeper insights into market dynamics and improve decision-making by integrating this candle pattern analysis indicator into your trading strategy.
MTF EMA Monitor CQENGLISH
This Dashboard allows you to monitor the Dollar difference between EMAS, if the Dollar difference between EMAS is around $200 on all 3, it is a good entry point for the time frame in which it is happening. It allows you to monitor 15M, 1H, 4H, 1D and 1W timeframes.
SPANISH
Este tablero permite monitorear la diferencia en Dolares entre EMAS, Si la diferencia es de alrededor de $200 en las 3 EMAS, podria ser una buena entrada para la temporalidad en que esta sucediendo. Permite monitorear temporalidades de 15M, 1H, 4H, 1D y 1S.
G2RIntroducing G2R – The Universal Indicator! Unlock the secret to trading success with G2R an extraordinary indicator that provides automatic signals across every time frame and market, from forex, crypto, stocks, & options with over 80% signal accuracy. Say goodbye to guesswork and hello to precision as G2R empowers you with real-time insights , giving you the edge to seize opportunities in any market condition . Elevate your trading strategy and conquer the financial world with G2R – your ultimate guide to profitable trading!
Features
• Bollinger bands
• 2 exponential moving averages
• Automatic buy and sell signals
• Works for Forex, Crypto, Indices, Stocks, & Options
• Tailored for all Timeframes
Trading Tips
• Trading Signals
• 30 Secs - 1 Min | SCALPING
• 3 Min - 5 Min | DAY TRADING
• 15 Min - 1 Hr | SWING & POSITION
• Take signal trades during London, New York, & Asia sessions
• Take Profits are found on the 15 Min, 30 Min, & 1 Hr timeframe at the trend channel or Moving Averages
• Stop loss are found above or below trend channel or moving averages
Warning
Never blindly take a trade on a G2R - wait for a proper market structure to occur before considering a trade.
Vertical and Horizontal Lines on given DatesThis simple indicator is to show the impact of given dates on the chart:
The dates need to be entered in a yyyy-MM-dd format, separated by comma (,) or space+comma ( ,).
The event can be shown on the chart with a vertical highlighting.
The midpoint of the price action that day can be shown as a vertical line.
Hint: If you load a lot of dates into it, best disable the "Indicator Arguments" in "Chart Settings" -> "Status line" to not have the chart littered with these date arguments.
Measured MoveThis indicator was made for those who look to profit on “Measured Moves.”
Upon opening the settings one will need to set the time to begin (Start Time in settings) the colored background of the potential move areas, and the high (First Price Level in settings) and low (Second Price Level in settings) prices for the measured area for the measured move.
After those are selected they can be easily moved on the chart. I created a table for the user to tap with the pointer to highlight the setting lines for easy adjustment.
Measured moves are used by some algo’s and some traders to determine the take profit levels. They are moves from a particular pattern conclusion to a distance equal to that distance in the desired direction.
This is an image of the measured move which occurred on Dec 13th, 2023 at about 1pm on the ES 1m chart:
The center area in lightly shaded blue is the measured area. The green and red would be the same distance and would equate to the measured move distance.
This example shows the same day – the second move up was a measured move by some traders:
www.tradingview.com
Again, the same day on the way down. This one didn’t quite complete the move:
Again, same day on the way back up – almost perfect:
And, finally, the same day for the last move up:
This indicator will require the user to know what to look for in creating the measured movement. The script is quite simple – but, can be effective in assisting a user to know potential profit targets.
I conducted several searches for “measured move” and found no other indicators that provide this functionality. I understand that one could use fibs to do the same thing – but, I didn’t want to have to alter the fib settings (which I use for actual fibs) to perform this functionality.
Please comment with any questions/suggestions/etc.
Hammer and inverted Hammer
The "Hammer and Inverted Hammer" indicator is straightforward and effective. It automatically spots key candlestick patterns for you, making it easier to see potential market turns. You can also adjust a few settings to fit your trading style. Simple, yet quite handy for traders!
Alerts for Hammer Pattern: When the script identifies a Hammer pattern, it can trigger an alert. This is particularly useful if you're looking for potential bullish reversal signals and don't want to miss them.
Alerts for Inverted Hammer Pattern: Similarly, when an Inverted Hammer pattern is detected, the script can also trigger an alert. This is helpful for spotting potential bearish reversal signals.
SETTINGS EXPLAINED
Minimum Lower Tail Length (%): This setting allows you to define what percentage of the total candle size should be considered a significant lower tail. This is important for identifying the Hammer pattern.
Number of Consecutive Candles (for Lower Tails): This input lets you choose how many consecutive candles with significant lower tails must be present to identify a pattern.
Percentage of Candle Below Previous Low: This setting determines what percentage of the candle's range must extend below the lowest low of a specified number of previous candles. It's used to assess the significance of a Hammer pattern.
Number of Previous Candles for Lowest Low: This decides how many previous candles the script should look at to calculate the lowest low, which is then used in the Hammer pattern analysis.
Minimum Upper Tail Length (%): Similar to the lower tail setting, this defines the significant length of an upper tail, used for identifying the Inverted Hammer pattern.
Number of Consecutive Candles (for Upper Tails): This input is for setting how many consecutive candles with significant upper tails are required to confirm an Inverted Hammer pattern.
Percentage of Candle Above Previous High: This setting is used to determine how much of the candle's range must be above the highest high of a set number of previous candles, aiding in the identification of the Inverted Hammer pattern.
Number of Previous Candles for Highest High: It specifies the number of past candles to consider for calculating the highest high, which is important for the analysis of Inverted Hammer patterns.
These settings allow you to customize how the script identifies Hammer and Inverted Hammer patterns, making it adaptable to different trading strategies and market conditions.
Peak & Valley Levels [AlgoAlpha]The Peak & Valley Levels indicator is a sophisticated script designed to pinpoint key support and resistance levels in the market. By utilizing candle length and direction, it accurately identifies potential reversal points, offering traders valuable insights for their strategies.
Core Components:
Peak and Valley Detection: The script recognizes peaks and valleys in price action. Peaks (potential resistance levels) are identified when a candle is longer than the previous one, changes direction, and closes lower, especially on lower volume. Valleys (potential support levels) are detected under similar conditions but with the candle closing higher.
Color-Coded Visualization:
Red lines mark resistance levels, signifying peaks in the price action.
Green lines indicate support levels, representing valleys.
Dynamic Level Adjustment: The script adapts these levels based on ongoing market movements, enhancing their relevance and accuracy.
Rejection Functions:
Bullish Rejection: Determines if a candlestick pattern rejects a level as potential support.
Bearish Rejection: Identifies if a pattern rejects a level as possible resistance.
Usage and Strategy Integration:
Visual Aid for Support and Resistance: The indicator is invaluable for visualizing key market levels where price reversals may occur.
Entry and Exit Points: Traders can use the identified support and resistance levels to fine-tune entry and exit points in their trading strategies.
Trend Reversal Signals: The detection of peaks and valleys serves as an early indicator of potential trend reversals.
Application in Trading:
Versatile for Various Trading Styles: This indicator can be applied across different trading styles, including swing trading, scalping, or trend-following approaches.
Complementary Tool: For best results, it should be used alongside other technical analysis tools to confirm trading signals and strategies.
Customization and Adaptability: Traders are encouraged to experiment with different settings and timeframes to tailor the indicator to their specific trading needs and market conditions.
In summary, the Peak & Valley Levels by AlgoAlpha is a dynamic and adaptable tool that enhances a trader’s ability to identify crucial market levels. Its integration of candlestick analysis with dynamic level adjustment offers a robust method for spotting potential reversal points, making it a valuable addition to any trader's toolkit.
Linear Reg CandlesThe provided Pine Script is a TradingView script for creating a technical analysis indicator called "Humble LinReg Candles." This script includes features such as linear regression for open, high, low, and close prices, signal smoothing with simple or exponential moving averages, and a trailing stop based on Average True Range (ATR). Additionally, the script contains a screener section to display signals for a list of specified symbols.
Here is a breakdown of the script:
Indicator Settings:
It defines various input parameters such as signal smoothing length, linear regression settings, and options for using simple moving averages.
Linear regression is applied to open, high, low, and close prices based on user-defined settings.
ATR Trailing Stop:
It calculates the Average True Range (ATR) and uses it to determine a trailing stop for buy and sell signals.
Signals are generated based on whether the close price is above or below the ATR trailing stop.
Plotting:
The script plots the calculated signal on the chart using the plot function.
Buy and Sell Conditions:
Buy and sell conditions are defined based on the relationship between the close price and the ATR trailing stop.
Plot shapes and bar colors are used to visually represent buy and sell signals on the chart.
Alerts:
Alerts are triggered when buy or sell conditions are met.
Screener Section:
The script defines a screener section to display a watchlist of symbols with long and short signals.
The watchlist includes a set of predefined symbols with corresponding long and short signals.
Table Theme Settings:
The script allows customization of the table theme, including background color, frame color, and text color.
The size and location of the table on the chart can also be customized.
Screener Function:
A function getSignal is defined to determine long and short signals for each symbol in the watchlist.
The getSym function is used to extract the symbol name from the symbol string.
Dashboard Creation:
The script creates a table (dashboard) to display long and short signals for the symbols in the watchlist.
The table includes headers for "Long Signal" and "Short Signal" and lists the symbols with corresponding signals.
Overall, the script combines technical analysis indicators and a screener to help traders identify potential buy and sell signals for a set of specified symbols.
41-80 F&O MA ScreenerThis Pine Script is a TradingView indicator named "41-80-F&O EMA Screener." It calculates and displays four moving averages (MA1, MA2, MA3, and MA4) and the Relative Strength Index (RSI) on a chart. The script generates buy and short signals based on certain conditions involving the moving averages and RSI. Additionally, it includes a screener section that displays a table of symbols with buy and short signals.
Here's a breakdown of the key components:
Moving Averages (MAs):
MA1: Simple Moving Average with length len1 (green line).
MA2: Simple Moving Average with length len2 (red line).
MA3: Simple Moving Average with length len3 (orange line).
MA4: Simple Moving Average with length len4 (black line).
Relative Strength Index (RSI):
The RSI is calculated with a length of rsiLengthInput and a source specified by rsiSourceInput.
Conditions for Buy and Short Signals:
Buy Signal: When MA1 is above MA2 and MA3, and RSI is above 50.
Short Signal: When MA1 is below MA2 and MA3, and RSI is below 50.
Signal Plots:
Buy signals are plotted as "B" below the corresponding bars.
Short signals are plotted as "S" above the corresponding bars.
Background Coloring:
Bars are colored based on their opening and closing prices.
Screener Section:
The script defines a watchlist (gticker) with 40 predefined symbols.
It then calls the getSignal function for each symbol to identify buy and short signals.
The results are displayed in a table with long signals in green and short signals in red.
Table Theming:
The script allows customization of the table's background, frame, and text colors, as well as the text size.
The table's location on the chart can also be customized.
Please note that the script uses the Mozilla Public License 2.0. Make sure to review and comply with the terms of this license if you plan to use or modify the script.
1-40-F&O EMA ScreenerThis Pine Script is a TradingView indicator named "1-40-F&O EMA Screener." It calculates and displays four moving averages (MA1, MA2, MA3, and MA4) and the Relative Strength Index (RSI) on a chart. The script generates buy and short signals based on certain conditions involving the moving averages and RSI. Additionally, it includes a screener section that displays a table of symbols with buy and short signals.
Here's a breakdown of the key components:
Moving Averages (MAs):
MA1: Simple Moving Average with length len1 (green line).
MA2: Simple Moving Average with length len2 (red line).
MA3: Simple Moving Average with length len3 (orange line).
MA4: Simple Moving Average with length len4 (black line).
Relative Strength Index (RSI):
The RSI is calculated with a length of rsiLengthInput and a source specified by rsiSourceInput.
Conditions for Buy and Short Signals:
Buy Signal: When MA1 is above MA2 and MA3, and RSI is above 50.
Short Signal: When MA1 is below MA2 and MA3, and RSI is below 50.
Signal Plots:
Buy signals are plotted as "B" below the corresponding bars.
Short signals are plotted as "S" above the corresponding bars.
Background Coloring:
Bars are colored based on their opening and closing prices.
Screener Section:
The script defines a watchlist (gticker) with 40 predefined symbols.
It then calls the getSignal function for each symbol to identify buy and short signals.
The results are displayed in a table with long signals in green and short signals in red.
Table Theming:
The script allows customization of the table's background, frame, and text colors, as well as the text size.
The table's location on the chart can also be customized.
Price SandwichFor the script in question
This script acts as an indicator that a potential short term or long term trend reversal is coming. Note that not every candle can be used as an indication and the smaller ones tend to have little to no effect, however they can be used alongside orderblocks or future support/resistance areas.
The best timeframes I've found these to be useable are on the 1m, 2m, or second charts.
You may use this as an added confluence that a trend is ending either short term or long term.
You may also decide to use this with other indicators to build further confluence.
Note that this is just something I've noticed personally most likely does not apply to all trend reversals.
Some ideas on how to use it:
If you extend a rectangle out from the block itself, you can often find the next high or low overlaps with said rectangle.
They may also overlap with a fair value gap that could make that gap have more potential.
Hope this is of use and can help with that added confluence or early warning signal of a potential reversal. This should not be used alone and it's recommended to not use this as a surefire indication of whether to take a trade.//Krindler
Script Breakdown
//@version=5 // this makes the script v5 friendly
indicator("Price Sandwich", overlay=true) //makes this script an indicator, overlay=true to make it a part of the main chart
// User input for the highlight color
userColor = input(color.green, title="Highlight Color") //This allows you to choose what color you want the candle to be in the settings
//Function to check the custom candle pattern based on whether the candle is being englulfed by both preceding and latter candle.
isCustomPattern() => //let's me look for a custom candle pattern
high > high and high < high and low < low and low > low
//this checks the candle before and the candle after to check that the candle in the middle doesn't escape the range of the candle before, or the candle afters highs and lows thus making it a sandwiched candle.
//high > high and high < high and low < low and low > low basically says: candle 1 high must be greater than candle 2 high and candle 2 high must be less than candle 3 high and candle 1 low must be less than candle 2 low and candle 2 low must be greater than candle 3 low. Thus making sure that candle 2 is within the range of candle's 1 and 3 and doesn't have a high or low that is either above or below candle 1 and 3. 'and' is the operator to make sure that all of these values must be true in order for that candle to meet the criteria of getting colored.
// Apply bar color to Sandwiched candle if candle is found.
barcolor(isCustomPattern() ? userColor : na, offset=-1) //this targets the findings from isCustomPattern() and uses the user color chosen in settings and colors the middle bar by using offset=-1, otherwise it would color candle 3, so offset goes back 1 candle to color the middle candle.
If this script is already in circulation, please let me know and i'll remove it immediately. I checked but couldn't find one that did it.
Divergence Indicator [Trendoscope®]🎲 New Divergence Indicator by Trendoscope
Our latest Divergence Indicator revolutionizes the way traders identify market trends and potential reversals. Built upon the robust foundation of the Zigzag Trend Divergence Detector and inline with our recent implementation of the Divergence Goggles indicator, this tool is designed to be intuitive yet powerful, making it an essential addition to any trader's toolkit.
We received several queries on extending the Divergence Goggles to last N bars instead of using an interactive widget. Though it is possible, we thought the better approach is to enable the indicator to use any oscillator and trend indicator in order to define the divergence.
🎯 Key Features
Flexible Oscillator Integration : Choose from a wide range of built-in oscillators or import your own, including options like the innovative Multiband Oscillator. This versatility extends to using volume indicators like OBV for divergence calculations, broadening the scope of analysis.
Trend Identification Versatility : Utilize built-in methods like Zigzag and MA Difference, or integrate external trend indicators. Our system adapts to various methods, ensuring you have the right tools for precise trend identification.
Customizable Zigzag Sensitivity : Adjust the Zigzag based on your chosen oscillator's sensitivity to ensure divergence lines are accurate and visually coherent.
Repainting vs. Delayed Signals : Tailor the indicator to your strategy by choosing between immediate repainting signals and slightly delayed but more stable signals.
🎯 Understanding Divergence: Key Rules
Bullish Divergence
Happens only in downtrend
Observed on Pivot Lows
Price makes lower low whereas oscillator makes higher low, indicating weakness and possible reversal
Bearish Divergence
Happens only in uptrend
Observed on Pivot Highs
Price makes higher high whereas oscillator makes lower high, indicating weakness and possible reversal
Bullish Hidden Divergence
Happens only in uptrend
Observed on Pivot Lows
Price makes higher low, whereas indicator makes lower low due to price consolidation. In bullish trend, this is considered as bullish as the price gets a breather and get ready to surge further.
Bearish Hidden Divergence
Happens only in downtrend
Observed on Pivot Highs
Price makes lower high whereas oscillator makes higher high due to price consolidation. In bearish trend, this is considered as bearish as the price gets a breather and get ready to fall further.
🎯 Visual Insights: Divergence and Hidden Divergence
For a clearer understanding, refer to our visual guides:
🎲 Using the Divergence Indicator: A Step-by-Step Guide
🎯 Step 1 - Selecting the Oscillator
Customize your analysis by choosing from a variety of oscillators or importing your preferred one. Options are available to select a range of built-in oscillators and the loopback length. However, if the oscillator that user want to use is not in the list, they can simply load the oscillator from the indicator library and use it as an external signal.
In our current example, we are using a custom oscillator called - Multiband Oscillator
This also means, the indicator option is not limited to oscillators. Users can even make use of volume indicators such as OBV for the calculation of divergence.
🎯 Step 2 - Choosing the Trend Identification Method
Select from our built-in methods or integrate an external indicator to accurately identify market trends. Trend is one of the key parameters of divergence type identification. Trend can be identified mathematically by various methods. Some of them are as simple as above or below 200 moving average and some can follow trend based indicators such as supertrend and others can be very complex.
To cater for a wider audience, here too we have provided the option to use an external trend indicator. The simple condition for the external trend indicator is that it should return positive value for uptrend and negative value for downtrend.
Other than that, we also have 2 built in trend identification methods.
Zigzag - The trend is defined by the starting pivot of divergence line. If the starting pivot is Higher High or Higher Low, then it is considered uptrend. And if the starting pivot is either Lower Low or Lower High, then we consider it as downtrend.
MA Difference - In this case, the difference between the moving average of pivots joining the divergence line will determine the trend. It is considered uptrend if the moving average increased from starting pivot to ending pivot of the divergence line, and it is considered downtrend if the moving average decreased from starting pivot to the ending pivot of the divergence line.
🎯 Step 3 - Adjusting Zigzag Sensitivity
Fine-tune the Zigzag to match the oscillator's sensitivity, ensuring divergence lines are accurate and visually coherent.
🎯 Step 4 - Managing Repainting
Understand the implications of repainting in the last pivot of the Zigzag and choose between immediate or delayed signals based on your trading strategy. The last pivot of the zigzag repaint by design. This is not necessarily a bad thing. Users can just choose not to use the last pivot, but instead use the last but one for all the calculations. But, this also means, the signals will be delayed.
Indicator provides option to use repainting signal vs delayed signal. If you select the repaint option, the signals are shown immediately as and when they occur. But, there is a possibility that these signals change when the new price candles change zigzag pivot.
If you chose not to select the repaint option, then the divergence signals may lag by a few bars.
NAS100 - 5 Minute Opening Range with EMAsThis indicator is designed for traders who focus on the opening range breakout strategy and use EMAs as part of their trading decisions. The script markes the first 5 min opening candle and generates Buy and Sell signals calculating EMA.
Basic features are :
User Inputs: Allows users to enable/disable alerts and choose to display Exponential Moving Averages (EMAs) for 5, 20, and 50 periods.
Opening Range Calculation: It calculates the first five minutes of the trading day, adjusting for different chart timeframes.
New Day Detection: Determines if the current bar is the first bar of a new day.
Data Storage: Utilizes arrays to store opening range highs, lows, start bars, and last bars for the last five days.
Daily Updates: Updates the stored data at the start of each new day, maintaining data for only the last five days.
Opening Range Plotting: Plots the opening ranges (high and low) for the past five days, with special plotting and filling for the current day.
EMA Calculation and Plotting: Calculates and plots EMAs (5, 20, and 50 periods) if enabled.
Alert Conditions: Sets up conditions for alerts when the price crosses above or below the current day's opening range.
Signal Generation: Generates buy and sell signals based on the relationship of the closing price to the opening range and the position of EMA5 relative to EMA50.
Signal Plotting: Plots buy and sell signals as triangles on the chart.
