Further development on the sub-candle concept defined in the earlier script. SubCandle
This time instead of concentrating only on the last part, we are dividing the main candle into three parts.
First Sub-Candle - Covers the candle movement from open to first of highest/lowest point. First sub-candle tells how fast/slow the initial movement took place and...
Micro zigzag is created based on similar concepts as that of zigzag but by using lower timeframe intra-bar data. The lines join candle's high/low points but also depict how the price movement within the candle happened. That is, if the high of the candle is reached first, pivot from previous candle join the high first and then low and vice versa.
The output can...
I created this script as POC to handle specific cases where not having tick data on historical bars create repainting. Happy to share if this serves purpose for other coders.
What is the function of this script?
Script plots a sub-candle which is remainder of candle after forming the latest peak.
Higher body of Sub-candle refers to strong retracement of...
This is a very simple script which can be used as measure to define your trading zones based on volatility.
This script tries to identify the area of low and high volatility based on comparison between Bandwidth of higher length and ATR of lower length.
Relative Bandwidth = Bandwidth / ATR
Bandwidth can be based on either Bollinger Band, Keltner...
Before getting into the script, I would like to explain bit of history around this project. Wolfe was in the back of my mind for some time and I had several attempts so far.
When I first developed harmonic patterns, I got many requests from users to develop script to automatically detect Wolfe formation. I thought it would be easy and started...
Here is a small attempt to automatically identify wedges and flags.
Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming wedge can be quite common. In future, will also try to add more pivots in pattern recognition to make the signal more accurate.
I started off with the intention of creating script to identify Wolfe wave projection. But, soon ran into problem with loops. Realized drawing wedge is more difficult than drawing converging triangle. Hence, took a step back and started working on wedges and triangle identification. Ended up with a messy output which looked like this.
Had to take another step...
Lets make things bit complicated.
Main difference between this script and the earlier Multi Zigzag Harmonic Pattern is the calculation logic of Zigzag 2, 3 and 4
In the earlier script, all zigzags were plain and were calculated on the basis of different lengths. (Such as 5, 10, 15, 20). These were derived on the basis of Multi Zigzag indicator
This is a supertrend with slight twisted concept which can be very benefecial in strong trending markets to reduce stop loss distance and exit slightly quicker.
▶ When the instrument is trending up, regular ATR shows high values if there are big green candles. This affect the stoploss distance in regular supertrend which leads to wide stops or delayed...
I may not be able to spend much time on the harmonic patterns and realized that there are not much open source scripts on them either. Hence, decided to release open source version which can be used by other developers for reference and build things on top of it.
Original script is protected and can be found here:
Logical ratios of patterns are coded as below:...
Combining Multizigzag with harmonic patterns - this script generates harmonic patterns based on multiple deapth zigzags.
Input parameter allows to chose which Zigzag to be included in pattern identification and set different length, line color, width and style for each Zigzag combinations.
Pattern rules are as below:
xab = 0.618
0.382 <= abc...
Back to my favourite topic - Zigzags.
Here is an indicator which can help you visualise volume data on Zigzag swing highs and lows.
Settings are pretty simple and provides variety of display options
Display options are as demonstrated in the chart has following main types.
Plus/Minus - Stacked
Plus/Minus - Overlapping
Plus/Minus - Opposite...
Here is my first attempt on defining volume profile. In this script, I am using new feature of pine security_lower_tf
Upon loading the script, it will ask users to select Time range to show the volume profile. Once you select the time range, confirmation input will popup. Upon confirming the inputs, you will be able to view the volume profile
Can't deny that I am obsessed with zigzags. Been doing some crazy experiments with it and have many more in pipeline. I believe zigzag can be used to derive better trend following methods. Here is an attempt to visualize zigzag as candlesticks. Next steps probably to derive moving average, atr (although there was an attempt of AZR made earlier) and probably...
The library provides options to run alert() calls in loop without worrying about limitations of frequency options.
When an alert statement is called within a loop,
it will fire just once per bar irrespective of how many iterations allowed when fequency is set to alert.freq_once_per_bar or alert.freq_once_per_bar_close
it will fire...
Few essentials captured together (subset of arrayutils)
finds difference between two timestamps
timeStart : start timestamp
endTime : end timestamp
check_overflow(pivots, barArray, dir)
finds difference between two timestamps
pivots : pivots array
Library contains utility functions using arrays.
delete( arr , index)
remove an item from array at specific index. Also deletes the item
arr: - array from which the item needs to be deleted
index: - index of item to be deleted
pop( arr )
remove the last item from array. Also deletes the...
Nothing fancy. Just converted the new matrix library of zigzags ( mZigzag ) into indicator as I sensed it can be useful as indicator.
On top of the standard zigzag, the indicator also tracks given oscillators, moving average and volume indicators on each pivots. More indicators can be added programmatically - but it will take up space in chart. Hence, so far I...