Weighted Global Liquidity Index (WGLI)The Weighted Global Liquidity Index (WGLI) provides a comprehensive view of major central bank balance sheets from around the world, using data converted to USD for consistency and expressed in trillions. This indicator includes specific US accounts like the Treasury General Account (TGA) and Reverse Repurchase Agreements (RRP), which are subtracted from the Federal Reserve's balance sheet to offer a more detailed perspective on US liquidity.
The WGLI incorporates not only the balance sheets but also additional key financial indicators such as Foreign Exchange Reserves, Interbank Rates, and Interest Rates, weighted by their global liquidity importance. The regions and central banks included are:
Federal Reserve System (FED) - Treasury General Account (TGA) - Reverse Repurchase Agreements (RRP)
European Central Bank (ECB)
People's Bank of China (PBC)
Bank of Japan (BOJ)
Bank of England (BOE)
Bank of Canada (BOC)
Reserve Bank of Australia (RBA)
Reserve Bank of India (RBI)
Swiss National Bank (SNB)
Central Bank of the Russian Federation (CBR)
Central Bank of Brazil (BCB)
Bank of Korea (BOK)
Reserve Bank of New Zealand (RBNZ)
Sweden's Central Bank (Riksbank)
Central Bank of Malaysia (BNM)
This tool is designed for anyone interested in gaining a snapshot of global liquidity to interpret macroeconomic trends. By examining these balance sheets and additional indicators, users can understand policy trajectories and evaluate the global economic climate. It also offers insights into asset pricing and helps investors make informed capital allocation decisions.
Feel free to explore and customize the WGLI script on Trading View to suit your analysis needs!
Educational
RV - Relative Strength Index Buy/SellIntroduction
The RV - RSI B/S V1.2 indicator leverages the RSI to identify overbought and oversold conditions in the market. The RSI line color changes according to bullish, bearish, oversold, and overbought zones, helping users identify direction and avoid false trades. By plotting the RSI along with user-defined moving averages and Bollinger Bands, it offers a multi-faceted approach to analyzing market momentum.
Indicator Overview
The indicator RSI line color changes as per the bullish, bearish, oversold, and overbought zones. This helps users find out the direction and the zones. The oversold and overbought zones are colored to help users avoid false trades.
Trading Strategy
Long Trades (Bullish Setup):
Entry: A long trade is initiated when the RSI crosses from 60 up to 80.
Exit: Long trades are generally exited when the RSI is between 80 and 90.
Condition: No long trades are taken if the RSI exceeds 80.
Short Trades (Bearish Setup):
Entry: A short trade is initiated when the RSI crosses from 40 down to 20.
Exit: Short trades are generally exited when the RSI is between 20 and 10.
Condition: No short trades are taken if the RSI falls below 20.
RSI Color Coding and Interpretation
The RV - RSI B/S V1.2 indicator uses color coding to provide a visual representation of RSI values, making it easier to identify critical levels at a glance:
Green (RSI 60-80): Indicates a bullish zone where long trades can be considered.
Red (RSI > 80): Signals an overbought condition where long trades should be avoided.
Orange (RSI 20-40): Indicates a bearish zone where short trades can be considered.
Pink (RSI < 20): Signals an oversold condition where short trades should be avoided.
RSI Settings and Their Importance
RSI Length: The default length is set to 12, which is the standard period for RSI calculation. This setting can be adjusted to increase or decrease sensitivity.
Source: The source of the data for the RSI calculation is typically the closing price.
MA Type: Various moving averages can be applied to the RSI, including SMA, EMA, SMMA (RMA), WMA, and VWMA. Each type offers different smoothing properties and can be selected based on
trading preferences.
MA Length: The default length is set to 20, aligning with the RSI length for consistency.
Bollinger Bands: When using Bollinger Bands, the standard deviation multiplier is set to 2.0 by default, but it can be adjusted to suit different volatility conditions.
Disclaimer
This indicator provides valuable signals for potential trading opportunities based on RSI levels and moving averages. However, it is crucial to incorporate directional price action analysis to confirm signals and improve trading accuracy. The RV - RSI B/S V1.2 should be used as part of a broader trading strategy, considering other technical and fundamental factors.
Pivot Points Level [TradingFinder] 4 Methods + Reversal lines🔵 Introduction
"Pivot Points" are places on the price chart where buyers and sellers are most active. Pivot points are calculated based on the previous day's price data and serve as reference points for traders to make decisions.
Types of Pivot Points :
Floor
Woodie
Camarilla
Fibonacci
🟣 Floor Pivot Points
Floor pivot points are widely used in technical analysis. The central pivot point (PP) serves as the main level of support or resistance, indicating the potential direction of the trend.
The first to third levels of resistance (R1, R2, R3) and support (S1, S2, S3) provide additional signals for potential trend reversals or continuations.
Floor Pivot Points Formula :
Pivot Point (PP): (H + L + C) / 3
First Resistance (R1): (2 * P) - L
Second Resistance (R2): P + H - L
Third Resistance (R3): H + 2 * (P - L)
First Support (S1): (2 * P) - H
Second Support (S2): P - H + L
Third Support (S3): L - 2 * (H - P)
🟣 Camarilla Pivot Points
Camarilla pivot points include eight levels that closely align with support and resistance. These points are particularly useful for setting stop-loss and profit targets.
Camarilla Pivot Points Formula :
Fourth Resistance (R4): (H - L) * 1.1 / 2 + C
Third Resistance (R3): (H - L) * 1.1 / 4 + C
Second Resistance (R2): (H - L) * 1.1 / 6 + C
First Resistance (R1): (H - L) * 1.1 / 12 + C
First Support (S1): C - (H - L) * 1.1 / 12
Second Support (S2): C - (H - L) * 1.1 / 6
Third Support (S3): C - (H - L) * 1.1 / 4
Fourth Support (S4): C - (H - L) * 1.1 / 2
🟣 Woodie Pivot Points
Woodie pivot points are similar to floor pivot points but place more emphasis on the closing price. This method often results in different pivot levels than the floor method.
Woodie Pivot Points Formula :
Pivot Point (PP): (H + L + 2 * C) / 4
First Resistance (R1): (2 * P) - L
Second Resistance (R2): P + H - L
First Support (S1): (2 * P) - H
Second Support (S2): P - H + L
🟣 Fibonacci Pivot Points
Fibonacci pivot points use the standard floor pivot points and then apply Fibonacci retracement levels to the range of the previous trading period. The common retracement levels used are 38.2%, 61.8%, and 100%.
Fibonacci Pivot Points Formula :
Pivot Point (PP): (H + L + C) / 3
Third Resistance (R3): PP + ((H - L) * 1.000)
Second Resistance (R2): PP + ((H - L) * 0.618)
First Resistance (R1): PP + ((H - L) * 0.382)
First Support (S1): PP - ((H - L) * 0.382)
Second Support (S2): PP - ((H - L) * 0.618)
Third Support (S3): PP - ((H - L) * 1.000)
These pivot point calculations help traders identify potential support and resistance levels, enabling more informed decision-making in their trading strategies.
🔵 How to Use
🟣 Two Methods for Trading Pivot Points
There are two primary methods for trading pivot points: trading with "pivot point breakouts" and trading with "price reversals."
🟣 Pivot Point Breakout
A breakout through pivot lines provides a significant signal to the trader, indicating a change in market sentiment. When an upward breakout occurs and the price crosses these lines, a trader can enter a long position and place their stop-loss below the pivot point (P).
Similarly, if a downward breakout happens, a short order can be placed below the pivot point.
When trading with pivot point breakouts, if the upward trend breaks, the first and second support levels can be the trader's profit targets. In a downward trend, the first and second resistance levels will serve this role.
🟣 Price Reversal
Another method for trading pivot points is waiting for the price to reverse from the support and resistance levels. To execute this strategy, one should trade in the opposite direction of the trend as the price reverses from the pivot point.
It's worth noting that although traders use this tool in higher time frames, it yields better results in shorter time frames such as one-hour, 30-minute, and 15-minute intervals.
ADX and SADX, SDIThe indicator aims to analyze and visualize the Average Directional Index (ADX) and its smoothed versions, along with directional indicators (DI) to help traders identify trend strength and potential buy/sell signals.
Indicator Settings:
The indicator is named "ADX and SADX, SDI" and is set to display prices with a precision of 2 decimal places.
Users can customize the ADX smoothing length, DI length, ADX smoothing period, and DI smoothing period through input variables.
Directional Movement (DM) Calculation:
The function dirmov calculates the positive and negative directional movements (DM) and the smoothed values of the positive directional index (DI+) and negative directional index (DI-).
This is done using the average true range (ATR) to normalize the DM values.
Average Directional Index (ADX) Calculation:
The function adx calculates the ADX, which measures the strength of a trend.
It uses the DI+ and DI- values to compute the ADX value.
Smoothed ADX and DI Calculation:
The ADX values are further smoothed using a simple moving average (SMA).
The DI difference is also smoothed and used to determine the trend direction.
Buy and Sell Signals:
A buy signal is generated when the DI+ crosses above DI- and the smoothed DI difference is increasing.
A sell signal is generated when the DI- crosses above DI+ and the smoothed DI difference is decreasing.
Plotting:
The ADX, smoothed ADX, smoothed DI difference (SPM), DI+, and DI- values are plotted on the chart.
Horizontal lines are drawn to indicate threshold levels (e.g., level 22).
Background and bar colors change based on buy (lime) and sell (maroon) signals to visually indicate these conditions.
Purpose of the Code:
This Pine Script code is used to create a custom indicator on TradingView that helps traders identify the strength and direction of a trend. The Average Directional Index (ADX) is used to measure trend strength, while the Directional Indicators (DI+ and DI-) are used to determine the direction of the trend. The smoothed versions of these indicators (SADX and SDI) provide additional confirmation and smoothing to reduce noise and false signals. Traders can use the buy and sell signals generated by this indicator to make informed trading decisions based on the trend strength and direction.
Important Note:
This script is provided for educational purposes and does not constitute financial advice. Traders and investors should conduct their research and analysis before making any trading decisions.
Quantum Duality Predictive Ranges### Quantum Duality Predictive Ranges v1.0
This Pine Script is designed to help traders predict price ranges and manage risk dynamically using ATR (Average True Range) calculations. It offers customizable settings, visual indicators, and alerts to assist in identifying trading opportunities and managing risk.
#### Key Features
- **Dynamic Risk Management**: Adjusts risk based on signals and cumulative risk.
- **Predictive Ranges**: Calculates predictive ranges based on ATR and user-defined multipliers.
- **Visual Indicators**: Plots lines and labels for easy visualization of trading signals and risk levels.
- **Alerts and Table**: Provides alerts for trading signals and displays a table with relevant trading data.
#### User Inputs
**EA Account Settings**
- **Initial Risk fixed in USD $**: Sets the initial risk amount in USD (default: 18).
- **Signal Multiply Factor for Risk**: Multiplier for signal risk (default: 1.257).
- **Pair Decimals**: Decimal places for pair pricing (default: 2).
**Trade Settings**
- **ATR Length**: Length for ATR calculation (default: 198).
- **ATR Factor**: Multiplier for ATR (default: 6.0).
- **ATR Source**: Source for ATR calculation (default: close).
- **ATR Multiplier**: Multiplier for defining RANGE Top/Bottom Levels (default: 0.45).
- **Inner Range Multiplier**: Multiplier for defining TP1 (default: 2.01).
- **Outer Range Multiplier**: Multiplier for defining TP2 (default: 3.0).
- **Spans Multiplier**: Multiplier for defining SL (default: 0.36).
**Display Options**
- **Display Table**: Option to display a table (default: true).
- **Display Labels for potential Gain and Loss**: Option to display gain/loss labels (default: true).
- **Display Labels for Bar counts since current Range**: Option to display bar counts (default: true).
- **Display Labels for Signals**: Option to display signal labels (default: true).
- **Line Width**: Width of the lines plotted (default: 1).
- **Line Transparency**: Transparency of the lines (default: 10).
- **Fill Transparency**: Transparency of the fill between lines (default: 75).
#### How It Works
1. **Predictive Ranges Calculation**:
- Calculates predictive ranges based on ATR, holds ATR values, and updates average values when price crosses defined levels.
2. **Risk Management and Signal Logic**:
- Counts the number of signals.
- Calculates cumulative and total risk based on signals.
- Resets signals and risk when price crosses predictive ranges.
3. **Entry Points and Potential Gains/Losses**:
- Determines buy and sell entry points.
- Calculates potential gains and losses for both buy and sell signals.
- Resets values when a new average range is established.
4. **Plotting and Alerts**:
- Plots lines for predictive ranges, spans, and stop loss levels.
- Displays labels for signals and potential gains/losses.
- Provides alerts for buy and sell signals with defined take profit and stop loss levels.
5. **Custom Ticker**:
- Renames tickers based on predefined rules (e.g., SPX500USD to SPX500).
#### Usage
1. **Set Up**:
- Adjust the input parameters in the settings menu to match your trading preferences and risk management strategy.
2. **Visualize**:
- View the plotted lines and labels on the chart to identify potential trading signals and manage risk.
3. **Alerts**:
- Enable alerts to receive notifications for buy and sell signals.
4. **Table**:
- Use the table to see a summary of important trading data, such as total risk and target levels.
This script provides a robust framework for managing risk and identifying trading opportunities using predictive ranges based on ATR. Happy trading!
Fiscasset Day SeparatorDescription:
The Fiscasset Day Separator is a simple yet effective indicator designed to help traders visually separate trading days on their charts. This indicator plots a vertical line at the start of each new day, making it easier to analyze daily price movements and identify patterns.
Key Features:
Day Separation: Automatically detects and marks the start of a new trading day with a vertical line.
Visual Clarity: The indicator uses a red triangle to highlight the beginning of each day, providing clear visual separation.
Background Highlight: Optionally, a semi-transparent red background color is applied at the start of each new day for enhanced visual distinction.
Usage:
Intraday Traders: Ideal for intraday traders who need to quickly differentiate between different trading days.
Pattern Recognition: Helps in recognizing daily patterns and price behaviors by clearly separating each trading day.
Customization: Users can adjust the style and color of the separator to fit their preferences.
How It Works:
The indicator detects the start of a new day by comparing the current bar's day of the week with the previous bar's day of the week.
When a new day is detected, a vertical line is plotted above the bar.
An optional background color is applied to highlight the start of the new day further.
Example Usage:
Apply the Fiscasset Day Separator to your chart to easily distinguish between trading days and enhance your market analysis.
Disclaimer:
This script is provided for educational purposes and does not constitute financial advice. Traders should use it in conjunction with other tools and perform their own analysis before making trading decisions.
ACD Indicator [TradingFinder] M Fisher Pivots Methodology Signal🔵 Introduction
The book "The Logical Trader" begins with a comprehensive review of the ACD Methodology principles, which include identifying specific price points related to the opening range.
This method allows you to set reference points for trading and use points "A" and "C" for trade entry. You will also learn about the "Pivot Range" and how to combine them with the ACD method to maximize position size and minimize risk.
In this indicator, the strategy is implemented to make it easier to use.
🔵 How to Use
The "ACD" strategy can be applied to various markets such as stocks, commodities, or forex, providing buy and sell signals that allow you to set your price targets and stop losses.
This strategy is based on the assumption that the opening range of trades is statistically significant each day, meaning the initial market fluctuations influence the market until the end of the day.
The ACD trading strategy is known as a breakout strategy and performs best in volatile or strongly trending markets, such as crude oil and stocks.
Some of the rules for using the ACD strategy include the following :
Consider points A and C as reference points and continuously pay attention to these points during trades. These points serve as entry and exit points for trades.
Examine daily and multi-day pivot ranges to analyze market trends. If the price is above the pivots, the trend is upward, and if below the pivots, the trend is downward.
Trading with the ACD strategy in forex is possible using the ACD indicator. This indicator is a technical tool used to measure the balance between supply and demand in the market. By analyzing trading volume and price, this indicator helps traders identify trend strength and suitable entry and exit points.
To use the ACD indicator, consider the following :
Identifying strong trends: The ACD indicator can help you identify strong and stable trends in the market.
Determining entry and exit points: ACD provides buy and sell signals to enter or exit trades at the best possible time.
Bullish Setup :
When the "A up" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes above this line.
After entering the trade, the best stop loss you can choose is below the "A down" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
Bearish Setup :
When the "A down" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes below this line.
After entering the trade, the best stop loss you can choose is above the "A up" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
🔵 Setting
NDay Pivot Range Period : Using this entry you can specify the number of days to calculate NDay Pivot Range.
Show Daily Pivot Range : Set the Daily Pivot color and displayed or not.
Show NDay Pivot Range : Set the NDay Pivot color and displayed or not.
ATR Period Levels : Determining the period of the ATR indicator, which is used to determine the A and C levels.
Show Tokyo ACD Setup : Set the Tokyo ACD Setup color and displayed or not.
Tokyo Opening Range Time : The amount of time taken to determine the opening range. You can set this number between 5 and 60 minutes.
Tokyo Session : Market start and end time.
A Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line A up and A down.
C Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line C up and C down.
The same settings exist for the London and New York sessions.
First 12 Candles High/Low BreakoutThis indicator identifies potential breakout opportunities based on the high and low points formed within the first 12 candles after the market opens on a 5-minute timeframe. It provides visual cues and labels to help traders make informed decisions.
Features:
Market Open High/Low: Marks the highest and lowest price of the first 12 candles following the market open with horizontal lines for reference.
Breakout Signals: Identifies potential buy or sell signals based on the first 5-minute candle closing above the open high or below the open low.
Target and Stop-Loss: Plots horizontal lines for target prices (100 points by default, adjustable) and stop-loss levels (100 points by default, adjustable) based on the entry price.
Visual Cues: Uses green triangles (up) for buy signals and red triangles (down) for sell signals.
Informative Labels: Displays labels with "Buy" or "Sell" text, target price, and stop-loss price next to the entry signals (optional).
Customization:
You can adjust the target and stop-loss point values using the provided inputs.
How to Use:
Add the script to your TradingView chart.
The indicator will automatically plot the open high, open low, potential entry signals, target levels, and stop-loss levels based on the first 12 candles after the market opens.
Use the signals and price levels in conjunction with your own trading strategy to make informed decisions.
Asian Range IndicatorIndicator Name:
Asian Range Indicator
Description:
This TradingView indicator is designed to accurately detect the price range during the Asian session, based on our trading strategy. This range is crucial for planning trades in the European and American sessions. Using advanced algorithms, the indicator automatically identifies and plots the highs and lows within the Asian session period, highlighting them on the chart with shaded areas for clear visualization. This helps traders anticipate breakouts and set more precise entry and exit levels.
How to Use the Indicator:
Add the indicator to your TradingView chart.
Observe the shaded areas representing the Asian range.
Use these levels to plan your trades during the European and American sessions.
Combine with other technical indicators to confirm your trading decisions.
Chart:
The chart published with this script is clean and easy to understand, clearly showing the Asian range highlighted with shaded areas. No other scripts are included, ensuring the indicator's output is easily identifiable. The shaded areas contribute to the visual understanding of the Asian range, helping traders effectively use the script.
Adaptive Trend Classification: Moving Averages [InvestorUnknown]Adaptive Trend Classification: Moving Averages
Overview
The Adaptive Trend Classification (ATC) Moving Averages indicator is a robust and adaptable investing tool designed to provide dynamic signals based on various types of moving averages and their lengths. This indicator incorporates multiple layers of adaptability to enhance its effectiveness in various market conditions.
Key Features
Adaptability of Moving Average Types and Lengths: The indicator utilizes different types of moving averages (EMA, HMA, WMA, DEMA, LSMA, KAMA) with customizable lengths to adjust to market conditions.
Dynamic Weighting Based on Performance: ] Weights are assigned to each moving average based on the equity they generate, with considerations for a cutout period and decay rate to manage (reduce) the influence of past performances.
Exponential Growth Adjustment: The influence of recent performance is enhanced through an adjustable exponential growth factor, ensuring that more recent data has a greater impact on the signal.
Calibration Mode: Allows users to fine-tune the indicator settings for specific signal periods and backtesting, ensuring optimized performance.
Visualization Options: Multiple customization options for plotting moving averages, color bars, and signal arrows, enhancing the clarity of the visual output.
Alerts: Configurable alert settings to notify users based on specific moving average crossovers or the average signal.
User Inputs
Adaptability Settings
λ (Lambda): Specifies the growth rate for exponential growth calculations.
Decay (%): Determines the rate of depreciation applied to the equity over time.
CutOut Period: Sets the period after which equity calculations start, allowing for a focus on specific time ranges.
Robustness Lengths: Defines the range of robustness for equity calculation with options for Narrow, Medium, or Wide adjustments.
Long/Short Threshold: Sets thresholds for long and short signals.
Calculation Source: The data source used for calculations (e.g., close price).
Moving Averages Settings
Lengths and Weights: Allows customization of lengths and initial weights for each moving average type (EMA, HMA, WMA, DEMA, LSMA, KAMA).
Calibration Mode
Calibration Mode: Enables calibration for fine-tuning inputs.
Calibrate: Specifies which moving average type to calibrate.
Strategy View: Shifts entries and exits by one bar for non-repainting backtesting.
Calculation Logic
Rate of Change (R): Calculates the rate of change in the price.
Set of Moving Averages: Generates multiple moving averages with different lengths for each type.
diflen(length) =>
int L1 = na, int L_1 = na
int L2 = na, int L_2 = na
int L3 = na, int L_3 = na
int L4 = na, int L_4 = na
if robustness == "Narrow"
L1 := length + 1, L_1 := length - 1
L2 := length + 2, L_2 := length - 2
L3 := length + 3, L_3 := length - 3
L4 := length + 4, L_4 := length - 4
else if robustness == "Medium"
L1 := length + 1, L_1 := length - 1
L2 := length + 2, L_2 := length - 2
L3 := length + 4, L_3 := length - 4
L4 := length + 6, L_4 := length - 6
else
L1 := length + 1, L_1 := length - 1
L2 := length + 3, L_2 := length - 3
L3 := length + 5, L_3 := length - 5
L4 := length + 7, L_4 := length - 7
// Function to calculate different types of moving averages
ma_calculation(source, length, ma_type) =>
if ma_type == "EMA"
ta.ema(source, length)
else if ma_type == "HMA"
ta.sma(source, length)
else if ma_type == "WMA"
ta.wma(source, length)
else if ma_type == "DEMA"
ta.dema(source, length)
else if ma_type == "LSMA"
lsma(source,length)
else if ma_type == "KAMA"
kama(source, length)
else
na
// Function to create a set of moving averages with different lengths
SetOfMovingAverages(length, source, ma_type) =>
= diflen(length)
MA = ma_calculation(source, length, ma_type)
MA1 = ma_calculation(source, L1, ma_type)
MA2 = ma_calculation(source, L2, ma_type)
MA3 = ma_calculation(source, L3, ma_type)
MA4 = ma_calculation(source, L4, ma_type)
MA_1 = ma_calculation(source, L_1, ma_type)
MA_2 = ma_calculation(source, L_2, ma_type)
MA_3 = ma_calculation(source, L_3, ma_type)
MA_4 = ma_calculation(source, L_4, ma_type)
Exponential Growth Factor: Computes an exponential growth factor based on the current bar index and growth rate.
// The function `e(L)` calculates an exponential growth factor based on the current bar index and a given growth rate `L`.
e(L) =>
// Calculate the number of bars elapsed.
// If the `bar_index` is 0 (i.e., the very first bar), set `bars` to 1 to avoid division by zero.
bars = bar_index == 0 ? 1 : bar_index
// Define the cuttime time using the `cutout` parameter, which specifies how many bars will be cut out off the time series.
cuttime = time
// Initialize the exponential growth factor `x` to 1.0.
x = 1.0
// Check if `cuttime` is not `na` and the current time is greater than or equal to `cuttime`.
if not na(cuttime) and time >= cuttime
// Use the mathematical constant `e` raised to the power of `L * (bar_index - cutout)`.
// This represents exponential growth over the number of bars since the `cutout`.
x := math.pow(math.e, L * (bar_index - cutout))
x
Equity Calculation: Calculates the equity based on starting equity, signals, and the rate of change, incorporating a natural decay rate.
pine code
// This function calculates the equity based on the starting equity, signals, and rate of change (R).
eq(starting_equity, sig, R) =>
cuttime = time
if not na(cuttime) and time >= cuttime
// Calculate the rate of return `r` by multiplying the rate of change `R` with the exponential growth factor `e(La)`.
r = R * e(La)
// Calculate the depreciation factor `d` as 1 minus the depreciation rate `De`.
d = 1 - De
var float a = 0.0
// If the previous signal `sig ` is positive, set `a` to `r`.
if (sig > 0)
a := r
// If the previous signal `sig ` is negative, set `a` to `-r`.
else if (sig < 0)
a := -r
// Declare the variable `e` to store equity and initialize it to `na`.
var float e = na
// If `e ` (the previous equity value) is not available (first calculation):
if na(e )
e := starting_equity
else
// Update `e` based on the previous equity value, depreciation factor `d`, and adjustment factor `a`.
e := (e * d) * (1 + a)
// Ensure `e` does not drop below 0.25.
if (e < 0.25)
e := 0.25
e
else
na
Signal Generation: Generates signals based on crossovers and computes a weighted signal from multiple moving averages.
Main Calculations
The indicator calculates different moving averages (EMA, HMA, WMA, DEMA, LSMA, KAMA) and their respective signals, applies exponential growth and decay factors to compute equities, and then derives a final signal by averaging weighted signals from all moving averages.
Visualization and Alerts
The final signal, along with additional visual aids like color bars and arrows, is plotted on the chart. Users can also set up alerts based on specific conditions to receive notifications for potential trading opportunities.
Repainting
The indicator does support intra-bar changes of signal but will not repaint once the bar is closed, if you want to get alerts only for signals after bar close, turn on “Strategy View” while setting up the alert.
Conclusion
The Adaptive Trend Classification: Moving Averages Indicator is a sophisticated tool for investors, offering extensive customization and adaptability to changing market conditions. By integrating multiple moving averages and leveraging dynamic weighting based on performance, it aims to provide reliable and timely investing signals.
Strategic Multi-Step Supertrend - Strategy [presentTrading]The code is mainly developed for me to stimulate the multi-step taking profit function for strategies. The result shows the drawdown can be reduced but at the same time reduced the profit as well. It can be a heuristic for futures leverage traders.
█ Introduction and How it is Different
The "Strategic Multi-Step Supertrend" is a trading strategy designed to leverage the power of multiple steps to optimize trade entries and exits across the Supertrend indicator. Unlike traditional strategies that rely on single entry and exit points, this strategy employs a multi-step approach to take profit, allowing traders to lock in gains incrementally. Additionally, the strategy is adaptable to both long and short trades, providing a comprehensive solution for dynamic market conditions.
This template strategy lies in its dual Supertrend calculation, which enhances the accuracy of trend detection and provides more reliable signals for trade entries and exits. This approach minimizes false signals and increases the overall profitability of trades by ensuring that positions are entered and exited at optimal points.
BTC 6h L/S Performance
█ Strategy, How It Works: Detailed Explanation
The "Strategic Multi-Step Supertrend Trader" strategy utilizes two Supertrend indicators calculated with different parameters to determine the direction and strength of the market trend. This dual approach increases the robustness of the signals, reducing the likelihood of entering trades based on false signals. Here is a detailed breakdown of how the strategy operates:
🔶 Supertrend Indicator Calculation
The Supertrend indicator is a trend-following overlay on the price chart, typically used to identify the direction of the trend. It is calculated using the Average True Range (ATR) to ensure that the indicator adapts to market volatility. The formula for the Supertrend indicator is:
Upper Band = (High + Low) / 2 + (Factor * ATR)
Lower Band = (High + Low) / 2 - (Factor * ATR)
Where:
- High and Low are the highest and lowest prices of the period.
- Factor is a user-defined multiplier.
- ATR is the Average True Range over a specified period.
The Supertrend changes its direction based on the closing price in relation to these bands.
🔶 Entry-Exit Conditions
The strategy enters long positions when both Supertrend indicators signal an uptrend, and short positions when both indicate a downtrend. Specifically:
- Long Condition: Supertrend1 < 0 and Supertrend2 < 0
- Short Condition: Supertrend1 > 0 and Supertrend2 > 0
- Long Exit Condition: Supertrend1 > 0 and Supertrend2 > 0
- Short Exit Condition: Supertrend1 < 0 and Supertrend2 < 0
🔶 Multi-Step Take Profit Mechanism
The strategy features a multi-step take profit mechanism, which allows traders to lock in profits incrementally. This is achieved through four user-configurable take profit levels. For each level, the strategy specifies a percentage increase (for long trades) or decrease (for short trades) in the entry price at which a portion of the position is exited:
- Step 1: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent1 / 100)
- Step 2: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent2 / 100)
- Step 3: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent3 / 100)
- Step 4: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent4 / 100)
This staggered exit strategy helps in locking profits at multiple levels, thereby reducing risk and increasing the likelihood of capturing the maximum possible profit from a trend.
BTC Local
█ Trade Direction
The strategy is highly flexible, allowing users to specify the trade direction. There are three options available:
- Long Only: The strategy will only enter long trades.
- Short Only: The strategy will only enter short trades.
- Both: The strategy will enter both long and short trades based on the Supertrend signals.
This flexibility allows traders to adapt the strategy to various market conditions and their own trading preferences.
█ Usage
1. Add the strategy to your trading platform and apply it to the desired chart.
2. Configure the take profit settings under the "Take Profit Settings" group.
3. Set the trade direction under the "Trade Direction" group.
4. Adjust the Supertrend settings in the "Supertrend Settings" group to fine-tune the indicator calculations.
5. Monitor the chart for entry and exit signals as indicated by the strategy.
█ Default Settings
- Use Take Profit: True
- Take Profit Percentages: Step 1 - 6%, Step 2 - 12%, Step 3 - 18%, Step 4 - 50%
- Take Profit Amounts: Step 1 - 12%, Step 2 - 8%, Step 3 - 4%, Step 4 - 0%
- Number of Take Profit Steps: 3
- Trade Direction: Both
- Supertrend Settings: ATR Length 1 - 10, Factor 1 - 3.0, ATR Length 2 - 11, Factor 2 - 4.0
These settings provide a balanced starting point, which can be customized further based on individual trading preferences and market conditions.
MarketcapDefinition
This indicator was designed to reveal the relationship between the price of the product and its market value. The red average marketcap line that appears on the chart is the line. And the further up this line moves from the chart, the more it shows that there is a mismatch between the price and the market value. So what does this incompatibility mean? There are purchases of the product, but since the supply of the product into circulation is constantly increasing, it means that these purchases are not reflected in the price, which means there is inflation.
The main purpose of our indicator is to calculate inflation of the product. It is the understanding of whether or not the amount of supply put into circulation in response to the investment is reflected in the product price while increasing the market value.
Attention: Transactions are made based on the data received via CRYPTOCAP. In cases where this data cannot be received, the "UNSUPPORTED SOURCE" warning is displayed. You can use Settings to change the source from which data can be retrieved.
Labels
The labels are explained one by one below.
MARKETCAP: Shows the current market value.
ATH MARKETCAP: Shows the highest market value of all time.
MARKETCAP RATIO: It gives the ratio between the highest level and the lowest level of the market value.
PRICE RATIO: Gives the ratio between the highest level and the lowest level of the crypto price.
ALL INFLATION PERCENT: It refers to the percentage of all inflation that has developed so far. It is also the percentage difference between market value and price.
MONTHLY INFLATION PERCENT: It refers to the monthly estimated inflation percentage.
CIRCULATING SUPPLY: It refers to the estimated circulation supply of the product.
Best Use
It should bring to mind the idea that the further the indicator curve moves away from the price, the higher the inflation will be. In order for a product to reach its previous peak, its market value must normally increase by the "MARKETCAP RATIO" value and the "PRICE RATIO" value. This should make you think that this product needs more investment to reach its former peak. And it is necessary to be careful when purchasing such products.
Disclaimer
This indicator is for informational purposes only and should be used for educational purposes only. You may lose money if you rely on this to trade without additional information. Use at your own risk.
Version
v1.0
Convert Equity to Future SymbolThis is a super simple script, not intended to be used as a standalone script . This script contains a custom function that can convert an equity symbol into a future contract symbol.
You can embed this in your script if, for some reason, you want to convert your equity symbols into future contracts.
Note: This script is created especially for Indian equities. I am not aware of its use for other countries. Moreover, I do not think this script can work for equities other than those in India.
Get intraday extended dataIf you have interacted with Pine for some time, you probably noticed that if you are using DWM resolutions, you will not be able to obtain complete data from the extended intraday ticker using the usual functions request.security() and request.security_lower_tf(). This is quite logical if you understand the principle of mapping data from the secure context to the main one. The main reason is the different opening and closing times of the intraday data with extended clocks and DWM.
This script visualizes one of the approaches to solving this problem. I will briefly describe the principle of operation:
For example, take the symbol NASDAQ:AAPL.
Our main resolution is 1D, but we want to receive extended data from a 4-hour interval. The daytime bar opens at 09:30 and closes at 16:00. The same period at a resolution of 4 hours covers 4 bars:
04:00 - 08:00
08:00 - 12:00
12:00 - 16:00
16:00 - 20:00
So, if we use the request.security_lower_tf() function, we will not get the bars 04:00 - 08:00 and 16:00 - 20:00 because their closing times are not within the range of the main context (09:30 - 16:00).
If we use the request.security() function, we will get the bar 04:00 - 08:00, but we will not get the bar 16:00 - 20:00 because its closing time will be in the future, and it is impossible to get values from the future.
So, what I propose is to use the upgraded request.security() function, inside which another function will be executed, storing all the bars in a var array and putting the post-market bars in the array of the next day. Next, all we have to do is isolate these bars, place them in the previous array, and remove them from the current one.
I visualized the received data simply as text, but you can do it differently using the proposed mechanism.
In order for everything to work, you need to fill in the inputs correctly:
"Symbol for calculate" - This is the symbol from which we will receive extended data.
"Intraday data period" - The period from which we will receive extended data.
"Specify your chart timeframe here" - This is an input that allows you to operate with data from the main context while being inside the secure one. Enter your current chart timeframe here. If there are problems, a warning will appear informing you about this.
If you want to use these developments, take the get_data() function, it will return:
1. the number of past items - it is useful for outputting values in real time, because it is not possible to simply delete them there, because they will always arrive and it is easier to make a slice with an indentation for this number
2. cleared object of type Inner_data containing arrays of open, high, low, close, volume, time, time_close intraday data
3. its same value from the previous bar
Short Term FS PrivateShort Term FS
Fibonacci levels, derived from the famous Fibonacci sequence, are a powerful tool in technical analysis used to identify potential support and resistance levels in the market. The narrative of using Fibonacci levels involves understanding market psychology, price action, and strategic decision-making. Here’s how this narrative unfolds:
### The Foundation: Fibonacci Sequence
The story begins with Leonardo Fibonacci, an Italian mathematician, who introduced the Fibonacci sequence to the West in the 13th century. The sequence, where each number is the sum of the two preceding ones, generates ratios that traders use to predict price movements in financial markets. The most significant ratios are 23.6%, 38.2%, 50%, 61.8%, and 100%.
### Market Psychology and Fibonacci Retracement
Imagine a stock or a commodity experiencing a significant upward trend. Traders begin to wonder when and where the price will pull back before continuing its upward trajectory. This is where Fibonacci retracement levels come into play. By drawing Fibonacci levels from the recent low to the recent high, traders identify key areas where the price might find support during a pullback.
For example, a trader observes that a stock has risen from $100 to $150. By applying Fibonacci retracement, they identify potential support levels at $138.2 (23.6% retracement), $130.9 (38.2% retracement), $125 (50% retracement), and $119.1 (61.8% retracement). These levels represent areas where buying interest may resurface, based on historical price action and market psychology.
### The Pullback and Support
As the stock begins to pull back from $150, traders watch closely as the price approaches these Fibonacci levels. At the 38.2% retracement level, they notice increased buying activity, causing the price to stabilize and potentially reverse. This indicates that many traders are using the same Fibonacci levels to make their decisions, creating a self-fulfilling prophecy.
### Fibonacci Extensions: Predicting Future Movements
Fibonacci levels are not only used to predict retracements but also to anticipate future price extensions. When the price resumes its upward movement, traders use Fibonacci extension levels to identify potential resistance points. These levels, such as 161.8%, 200%, and 261.8%, help traders set profit targets and plan their exit strategies.
Continuing the narrative, the stock recovers from the 38.2% retracement level and begins to rise again. Traders use Fibonacci extension levels drawn from the pullback low to the previous high to project potential targets. The 161.8% extension level, for instance, provides a target of $175, giving traders a clear goal for their positions.
### Combining Fibonacci with Other Indicators
To strengthen their analysis, traders often combine Fibonacci levels with other technical indicators, such as moving averages, trend lines, and oscillators. This confluence of signals increases the probability of successful trades.
In our narrative, the trader notices that the 61.8% retracement level coincides with a 200-day moving average, adding further weight to this support level. This confluence gives the trader more confidence to enter a buy position at this level.
### Real-Life Scenario
Consider a real-life example of a trader using Fibonacci levels on a major index like the S&P 500. After a significant rally from 3,000 to 4,000, the index begins to pull back. By applying Fibonacci retracement, the trader identifies key levels at 3,764 (23.6%), 3,618 (38.2%), and 3,500 (50%).
As the S&P 500 approaches the 3,618 level, the trader sees increased buying activity, signaling a potential reversal. They decide to enter a long position, setting a stop-loss just below the 38.2% retracement level and a take-profit at the 161.8% extension level at 4,300.
### Conclusion: Mastering Fibonacci
The narrative of using Fibonacci levels is one of blending mathematical precision with market psychology. By understanding and applying these levels, traders gain insights into potential support and resistance areas, improving their chances of making profitable trades. Like any tool, Fibonacci levels are most effective when combined with other forms of analysis and a thorough understanding of market dynamics.
Notional Trade Table
Notional Trade Table indicator displays notional trade values for given Buy and Sell of given input of Symbol, Quantity, Entry Price and Stop Loss .
Sections of Input Menu Table are supported with Tool Tip icons.
Input Symbols:
(Refer Input Menu)
User can choose maximum 20 Symbols.
Input Side Choice (BUY/SELL):
(Refer Input Menu)
After choosing Symbol, User has to choose the BUY or SELL option for each Symbol against the corresponding Sybol number. If NIL is selected “Nil is selected ” message is displayed prompting the user to select BUY or SELL sides.
For example in the above Input Menu:
Sym1 is BATS:AAPL. Corresponding Side 1 is Sell1.
Sym2 is BATS:NVDA Corresponding Side 2 Sell 2.
Sym12 is BATS:NFLX. Corresponding Side 12 is Buy12 and so on.
Input Quantity:
(Refer Input Menu)
Next enter Corresponding Quantity of BUY or SELL in relevant Quantity Input Box. Quantity cannot be Zero. Defval is 1.
For Sym1 input in Qty 1 box,for Sym2 input in Qty 2 box and so on.
Input Entry Price:
(Refer Input Menu)
After entering Quantity Input Entry Price for Corresponding Symbol.
Input for Sym1 Entry Price in EP1 box
Input for Sym2 Entry Price in EP2 box
and so on.
Input Stop Loss:
(Refer Input Menu)
Next Enter corresponding Stop Loss for each Symbol.
SL1 input box denotes Sym1 Stop Loss.
SL2 input box denotes Sym2 Stop Loss.
SL3 input box denotes Sym3 Stop Loss and so on.
Stop Loss for Chosen BUY side should be below corresponding Entry Price/Last Price. Otherwise a message is displayed “SL Hit”. User has to enter valid data.
Stop Loss for Chosen SELL side should be above corresponding Entry Price/Last Price. Otherwise a message is displayed “SL Hit”. User has to enter valid data.
Notional Trade Table:
(Refer the Table on Chart)
From the input menu filled by User script captures the Symbol, BUY/SELL options, Quantity,
Entry Price and Stop Loss details under the corresponding heads in the Notional Trade Table.
The script captures the live Last traded Price under the head LP and calculates and displays corresponding Profit or Loss under PR/LO column in the table.
SL+- LP is the difference between Last traded Price (LP) and Stop Loss Price. Positive figure under this head reflects Stop Loss cushion available .
Nil header column reflects message “NIL selected” prompting the User to select BUY or SELL sides.
SLH header displays “SL Hit” on Stop Loss Hit or wrong input of Stop Loss inconsistent with BUY or SELL sides of Trade. On “SL Hit” message all values in corresponding Symbol becomes Zero. User has to re-enter the details fresh .
On the top left side corner of the table there are 2 cells with Prono and Lono.They denote the number of trades which are in Profit (Prono) and which are in Loss(Lono).
It is preferable to choose Symbols from a single country exchange commensurate with the Time zone. Otherwise if Exchange and Chart time Zone differs there is risk of data loss in the table.
DISCLAIMER: For educational and entertainment purpose only .Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security/ies or investment/s.
Fair Value Gaps Setup 01 [TradingFinder] FVG Absorption + CHoCH🔵 Introduction
🟣 Market Structures
Market structures exhibit a fractal and nested nature, which leads us to classify them into internal (minor) and external (major) categories. Definitions of market structure vary, with different methodologies such as Smart Money and ICT offering distinct interpretations.
To identify market structure, the initial step involves examining key highs and lows. An uptrend is characterized by successive highs and lows that are higher than their predecessors. Conversely, a downtrend is marked by successive lows and highs that are lower than their previous counterparts.
🟣 Market Trends and Movements
Market trends consist of two primary types of movements :
Impulsive Movements : These movements align with the main trend and are characterized by high strength and momentum.
Corrective Movements : These movements counter the main trend and are marked by lower strength and momentum.
🟣 Break of Structure (BOS)
In a downtrend, a Break of Structure (BOS) occurs when the price falls below the previous low and establishes a new low (LL). In an uptrend, a BOS, also known as a Market Structure Break (MSB), happens when the price rises above the last high.
To confirm a trend, at least one BOS is necessary, which requires the price to close at least one candle beyond the previous high or low.
🟣 Change of Character (CHOCH)
Change of Character (CHOCH) is a crucial concept in market structure analysis, indicating a shift in trend. A trend concludes with a CHOCH, also referred to as a Market Structure Shift (MSS).
For example, in a downtrend, the price continues to drop with BOS, showcasing the trend's strength. However, when the price rises and exceeds the last high, a CHOCH occurs, signaling a potential transition from a downtrend to an uptrend.
It is essential to note that a CHOCH does not immediately indicate a buy trade. Instead, it is prudent to wait for a BOS in the upward direction to confirm the uptrend. Unlike BOS, a CHOCH confirmation does not require a candle to close; merely breaking the previous high or low with the candle's wick is sufficient.
🟣 Spike | Inefficiency | Imbalance
All these terms mean fast price movement in the shortest possible time.
🟣 Fair Value Gap (FVG)
To pinpoint the "Fair Value Gap" (FVG) on a chart, a detailed candle-by-candle analysis is necessary. This process involves focusing on candles with substantial bodies and evaluating them in relation to the candles immediately before and after them.
Here are the steps :
Identify the Central Candle : Look for a candle with a large body.
Examine Adjacent Candles : The candles before and after this central candle should have long shadows, and their bodies must not overlap with the body of the central candle.
Determine the FVG Range : The distance between the shadows of the first and third candles defines the FVG range.
This method helps in accurately identifying the Fair Value Gap, which is crucial for understanding market inefficiencies and potential price movements.
🟣 Setup
This setup is based on Market Structure and FVG. After a change of character and the formation of FVG in the last lag of the price movement, we are looking for trading positions in the price pullback.
Bullish Setup :
Bearish Setup :
🔵 How to Use
After forming the setup, you can enter the trade using a pending order or after receiving confirmation. To increase the probability of success, you can adjust the pivot period market structure settings or modify the market movement coefficient in the formation leg of the FVG.
Bullish Setup :
Bearish Setup :
🔵 Setting
Pivot Period of Market Structure Detector :
This parameter allows you to configure the zigzag period based on pivots. Adjusting this helps in accurately detecting order blocks.
Show major Bullish ChoCh Lines :
You can toggle the visibility of the Demand Main Zone and "ChoCh" Origin, and customize their color as needed.
Show major Bearish ChoCh Lines :
Similar to the Demand Main Zone, you can control the visibility and color of the Supply Main Zone and "ChoCh" Origin.
FVG Detector Multiplier Factor :
This feature lets you adjust the size of the moves forming the Fair Value Gaps (FVGs) using the Average True Range (ATR). The default value is 1, suitable for identifying most setups. Adjust this value based on the specific symbol and market for optimal results.
FVG Validity Period :
This parameter defines the validity period of an FVG in terms of the number of candles. By default, an FVG remains valid for up to 15 candles, but you can adjust this period as needed.
Mitigation Level FVG :
This setting establishes the basic level of an FVG. When the price reaches this level, the FVG is considered mitigated.
Level in Low-Risk Zone :
This feature aims to reduce risk by dividing the FVG into two equal areas: "Premium" (upper area) and "Discount" (lower area). For lower risk, ensure that "Demand FVG" is in the "Discount" area and "Supply FVG" in the "Premium" area. This feature is off by default.
Show or Hide :
Given the potential abundance of setups, displaying all on the chart can be overwhelming. By default, only the last setup is shown, but you can enable the option to view all setups.
Alert Settings :
On / Off : Toggle alerts on or off.
Message Frequency : Determine how often alerts are triggered.
Options include :
"All" (alerts every time the function is called)
"Once Per Bar" (alerts only on the first call within the bar)
"Once Per Bar Close" (alerts only at the last script execution of the real-time bar upon closing)
The default setting is "Once Per Bar".
Show Alert Time by Time Zone : Set the alert time based on your preferred time zone, such as "UTC-4" for New York time. The default is "UTC".
Display More Info : Optionally show additional details like the price range of the order blocks and the date, hour, and minute in the alert message. Set this to "Off" if you prefer not to receive this information.
SLOPED Trailing SL with ATR-V1SLOPED Trailing SL with ATR
I thought capital is sometime locked for long periods s when volatility is low, hence:
SLOPED Trailing SL with ATR
This indicator provides a trailing stop loss that dynamically adjusts based on the Average True Range (ATR) and incorporates a user-defined upward slope on flat areas. It is designed to follow the price movement more closely during trends while allowing for a customizable slope to maintain a trailing stop even when the price movement is flat.
Key Features:
ATR-Based Stop Loss:
Utilizes the ATR to calculate a dynamic stop loss level, adjusting to market volatility.
Provides a normal ATR stop loss line that only trails upwards, preventing it from decreasing.
Upward Slope on Flat Areas:
Adds a user-defined upward slope to the trailing stop loss when the price movement is flat.
The slope value is specified in 1/1000 increments (e.g., 0.1% per bar), allowing for fine-tuned control.
Engulfing Pattern Alerts By PropFirm AlgoWe have now decided to make this indicator to support the trading community! If you find yourself struggling to identify bullish engulfing and bearish engulfing candles, this one is for you.
Release Notes:
Initial release with robust detection of bullish and bearish engulfing patterns.
Added trend and volume filters for enhanced pattern accuracy.
Custom alerts for real-time notifications of potential trading opportunities.
Appendix 1 - Example Case of Use For Educational Study.
Appendix 2 - Technical description which focuses on explaining the functionality of the script, how the code works, and how it can be used by traders, providing further immediate insight value.
Appendix 1:
This indicator will provide you with Two types Bullish and Bearish Engulfing Alerts.
The Regular Bullish and Bearish Engulfing Candle's Shown As
Bullish Engulfing ︽
Bearish Engulfing ︾
And the Filtered Bullish and Bearish Engulfing Candle Shown As
Filtered Bullish Engulfing ⇡
Filtered Bearish Engulfing ⇣
You can also change the Alert Symbol to any text, symbol or emoji of choice in the Setting Style Panel . This allows you to customize the alert symbol style to your liking, Example....
Using the power of artificial intelligence, we coded this indicator based on technical descriptions to perfect this simple problem.
Use this tool together with different strategies as a confirmation to your trading bias.
Use Supply and Demand Zones together with the Engulfing Pattern Alerts
First, Verify if the bullish engulfing candle is at the end of a dying trend.
Secondly, Check if it’s at a major 1-hour, 4-hour, or daily support and resistance zone.
Then wait for the retest, then enter a position.
DON’T USE THE ENGULFING ALERT AS A POINT OF ENTRY, OR WHILE MARKETS ARE CONSOLIDATING nor in the middle of an active trend.
Now for the second most used method:
Use The Fibonacci together with the Engulfing Pattern Alerts
First, Identify an impulse candle that creates a new trend in the market.
Then Draw out your Fibonacci tool from the start of the candle to the end of the impulse leg where rejection is shown.
Wait for the price to retrace to the 61.8 retracement and use the engulfing candle as a second confirmation.
And lastly, wait for the price to retest the fib level showing signs of rejection, then enter.
Appendix 2:
Technical Description:
The "Engulfing Pattern Alerts By PropFirm Algo" script is a sophisticated tool designed to identify and alert traders of potential bullish and bearish engulfing patterns in the market, enhanced by trend and volume filters for improved accuracy. This script helps traders spot potential trend reversals by analyzing candlestick patterns in conjunction with volume data and moving averages.
Key Features:
Bullish Engulfing Pattern Detection: Identifies when a smaller bearish candle is followed by a larger bullish candle, indicating potential upward price movement.
Bearish Engulfing Pattern Detection: Identifies when a smaller bullish candle is followed by a larger bearish candle, indicating potential downward price movement.
Volume Filter: Enhances pattern reliability by ensuring the identified pattern is accompanied by a significant volume increase.
Trend Filter: Utilizes Simple Moving Averages (SMA) to filter patterns based on the prevailing market trend, reducing false signals on the "Filtered Engulfing Alerts" Setting.
Custom Alerts: Configurable alerts for both bullish and bearish engulfing patterns, allowing traders to stay informed in real-time.
How It Works:
Bullish Engulfing Pattern:
Detected when the body of the current candle completely engulfs the body of the previous candle.
Confirmed if the current candle closes higher than it opens, and the previous candle closes lower than it opens.
Volume on the current candle must be greater than the previous candle.
Bearish Engulfing Pattern:
Detected when the body of the current candle completely engulfs the body of the previous candle.
Confirmed if the current candle closes lower than it opens, and the previous candle closes higher than it opens.
Volume on the current candle must be greater than the previous candle.
Trend Filter:
Uses moving averages to determine the market trend.
Bullish patterns are only considered in downtrends.
Bearish patterns are only considered in uptrends.
Alerts:
Alerts can be set up for both bullish and bearish patterns, ensuring you are notified when significant market movements are detected.
How to Use:
Add the script to your chart.
Configure the alert settings according to your trading preferences.
Monitor your chart for plotted symbols indicating potential bullish (︽) and bearish (︾) engulfing patterns.
Utilize the alert conditions to get notified when these patterns occur.
Average SL% Calculator with TP Levels by GorkiAverage Stop Loss And Take Profit Calculator For Futures Trading by Gorki
Description
The "Average SL% Calculator with TP Levels" script, is a simple tool for traders to plan the trades and check how much loss they are going to receive if they run this strategy. This script calculates the average price of up to four entry points, determines the percentage distance to the stop-loss level, and provides potential loss information based on margin and leverage. Additionally, it includes multiple take-profit levels to help traders systematically capture profits. Visual elements such as horizontal lines and labels make it easy to monitor key levels directly on the chart.
Why To Use This Indicator?
Risk Management: Automatically calculates the percentage distance to the stop-loss level, helping you to understand potential losses.
Profit Optimization: Supports up to four take-profit levels, enabling a structured approach to capturing gains.
Visual Clarity: Displays key levels and important information directly on the chart for easy monitoring.
Alerts: Generates alerts when the price crosses specified levels, ensuring you never miss critical trading signals.
How to Use the Script
Add the Script to Your Chart: Apply the script to your TradingView chart.
Set Input Values: Entry Points: Define up to four limit prices (LIMIT 1, LIMIT 2, LIMIT 3, LIMIT 4).
Stop-Loss: Set your stop-loss price (STOP LOSS).
Take Profits: Specify up to four take-profit levels (Take Profit 1, Take Profit 2, Take Profit 3, Take Profit 4).
Leverage: Input your leverage factor.
Margin: Enter the total margin amount for the trade.
View Calculations: The script will calculate the average entry price, the percentage distance to the stop-loss, and the potential loss based on margin and leverage.
Monitor Levels: Horizontal lines and labels will appear on the chart, showing entry points, stop-loss, and take-profit levels.
Set Alerts: Alerts will trigger when the price crosses your defined levels, helping you to take timely action.
Calculation Details
Average Price: Calculated as the mean of the specified limit prices.
Distance to Stop-Loss: Determined as the percentage difference between the average price and the stop-loss level.
Leveraged Distance: The stop-loss distance percentage multiplied by the leverage factor.
Potential Loss: Calculated by applying the leveraged distance percentage to the margin amount.
Take Profit Percentages: The percentage difference between the average price and each take-profit level.
This comprehensive indicator is a must-have for any trader looking to manage risks effectively while maximizing potential profits. Happy trading!
CARNAC Trading Support and Resistance LevelsOverview
The "Carnac Trading Support and Resistance Levels" indicator is a powerful tool designed to help traders identify key support and resistance levels across multiple timeframes. This tool enhances trading strategies by visually marking significant price levels and providing configurable stop-loss and alert features.
Features
Support and Resistance Levels: Automatically calculates and plots support and resistance levels for the following timeframes:
5 minutes (5M)
10 minutes (10M)
15 minutes (15M)
30 minutes (30M)
1 hour (1H)
2 hours (2H)
4 hours (4H)
6 hours (6H)
12 hours (12H)
1 day (1D)
1 week (1W)
1 month (1M)
Configurable Stop-Loss (SL) Levels: Adds a stop-loss line below each support level and above each resistance level with customizable padding (as a percentage).
Visual Labels: Clearly labels support, resistance, and stop-loss levels with the corresponding prices and timeframes for easy identification.
Line Customization:
Support Levels: Green lines with varying thickness based on the timeframe.
Resistance Levels: Red lines with varying thickness based on the timeframe.
Stop-Loss Levels: Gray dotted lines for clear distinction.
Alerts: Alerts trigger when the price gets to a configurable percentage from the support or resistance levels, helping you stay informed about potential buying and selling opportunities.
Visibility Toggling: Easily toggle the visibility of support and resistance levels for each timeframe (default enabled for 2H, 4H, and 1D).
How to Use
Add the Indicator:
Navigate to the TradingView Pine Editor.
Paste the provided Pine Script code and click "Add to Chart."
Configure Inputs:
Lookback Periods: Adjust the lookback periods for each timeframe to suit your analysis needs.
Padding Percentage: Set the padding percentage for the stop-loss levels to define the distance below the support levels and above the resistance levels.
Visibility: Toggle the visibility of the support and resistance levels for each timeframe as needed (default enabled for 2H, 4H, and 1D).
Alert Trigger Distance: Set the alert trigger distance as a percentage to determine when the alerts should be triggered.
Interpret the Plotted Levels:
Green Lines: Indicate support levels for the respective timeframes.
Red Lines: Indicate resistance levels for the respective timeframes.
Gray Dotted Lines: Represent the stop-loss levels below each support level and above each resistance level, with the specified padding.
Labels: Provide clear indications of the price levels and their respective timeframes in white text for visibility.
Identifying Buying and Selling Opportunities:
Buying Opportunities:
Look for the price to approach or bounce off a support level (green line).
Confirm the potential for a reversal by checking if the price is nearing a key support level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order below the support level to minimize risk.
Selling Opportunities:
Look for the price to approach or get rejected at a resistance level (red line).
Confirm the potential for a reversal by checking if the price is nearing a key resistance level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order above the resistance level to minimize risk.
Alerts:
Alerts will notify you when the price gets within the specified percentage distance from each support or resistance level.
Use these alerts to stay informed about potential buying and selling opportunities.
Auto Gann KEYLVLS "Auto Gann KEYLVLS" indicator can be a valuable tool for traders, especially those who employ Gann theory in their analysis. Here are some ways to effectively use this indicator:
Identifying Key Price Levels: Gann lines are known for their ability to identify key support and resistance levels. Use the plotted Gann lines to identify significant price levels where the market may react.
Confirmation of Trend Reversals: When price approaches a Gann line, observe how the price reacts. A bounce off a Gann line can confirm the continuation of the trend, while a break of a Gann line may indicate a potential trend reversal.
Entry and Exit Points: Gann lines can serve as entry and exit points for trades. Look for confluence between Gann lines and other technical indicators or patterns to identify high-probability trade setups.
Trading with the Trend: In an uptrend, consider buying opportunities near Gann support levels, while in a downtrend, look for selling opportunities near Gann resistance levels.
Risk Management: Use Gann lines to set stop-loss and take-profit levels. Place stop-loss orders below Gann support levels for long trades and above Gann resistance levels for short trades to manage risk effectively.
Timeframe Analysis: Utilize the flexibility of this indicator to plot Gann lines on different timeframes. Compare Gann lines across multiple timeframes to identify alignment or divergence, which can provide additional confirmation for trading decisions.
Combination with Other Indicators: Combine the information provided by Gann lines with other technical indicators, such as moving averages, RSI, or MACD, to strengthen your trading decisions.
Input Parameters:
The script defines several input parameters that control the behavior of the Gann lines, such as the number of weeks to look back for highs and lows, the number of Gann lines to plot, line extension settings, and options to show or hide specific Gann lines like .25, .37, .50, .63, and .75.
Auto Gann Functionality:
The script calculates the highest high and lowest low for the specified number of weeks, hours, and minutes.
It then calculates quartile levels (0.25, 0.50, 0.75) based on the weekly high and low.
Gann lines are drawn based on these levels, with options to extend them left and/or right.
Labels are added to the Gann lines indicating their values.
Weekly Gann Lines:
The script plots Gann lines and labels based on the weekly high and low levels.
Labels are added to these lines indicating their values.
Sub Gann Lines:
Additional Gann lines are plotted based on the weekly high and low levels, with subdivisions for lower timeframes like H4, H1, M15, and M1.
Label Management:
Labels are managed based on user preferences, including options to show labels once on the left side, redraw labels on the right side, or not show labels at all.
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