MVRV Z-Score [AlgoAlpha]Introducing the ∑ MVRV Z-Score by AlgoAlpha, a dynamic and sophisticated tool designed for traders seeking to gain an edge in INDEX:BTCUSD analysis. This script employs advanced statistical techniques on Bitcoin On-Chain data to offer a deeper understanding of market conditions, focusing on valuation extremes and momentum trends. Let's explore the features and functionalities that make this tool a valuable addition to your trading arsenal.
Key Features:
🔶 Adjustable Parameters: Customize the Z score lookback length, moving average lookback length, and choose from six moving average types, tailoring the analysis to your trading style.
🔶 Heiken Ashi Compatibility: Incorporate Heiken Ashi plots to visualize market trends, adding a layer of clarity to your technical analysis.
🔶 Divergence Alerts: Detect significant bullish and bearish divergences, allowing for timely identification of potential market reversals.
🔶 Configurable Alerts: Set alerts for overbought, oversold, and divergence conditions, ensuring you never miss an opportunity.
How to Use:
1. ➡️ Parameter Selection: Start by configuring the Z-Score and moving average settings according to your analysis needs. This includes selecting the lookback period and the type of moving average.
2. ➡️ Visualization Options: Choose to enable Heiken Ashi plots for an alternative view of the Z-Score, which can help in identifying trend directions more clearly.
3. ➡️ Monitor for Signals: Keep an eye out for divergence signals and overbought/oversold conditions as potential indicators for entering or exiting trades.
4. ➡️ Alert Setup: Configure alerts based on your selected parameters to receive notifications for important market movements and conditions.
How It Works:
The core of this tool is the Z-Score calculation, which assesses the standard deviation of the current market value from its mean, highlighting overvalued or undervalued market conditions. Here's a brief overview of the script's operational mechanics:
1. 📊 Calculating the Z-Score: The script first calculates the mean over a user-defined lookback period of the MVRV ratio, then it computes the Z-Score to identify deviations from the average.
meanValue = ta.sma(marketValue, zScoreLookback)
zScoreValue = (marketValue - meanValue) / ta.stdev(marketValue, zScoreLookback)
2. 📈 Applying a Moving Average: To smooth the Z-Score data and make trends more discernible, a moving average is applied. Users can choose from several types, such as SMA, EMA, or HMA, based on their preference.
3. 🔄 Heiken Ashi Visualization: For those opting for a more intuitive trend analysis, Heiken Ashi plots can be enabled, transforming the Z-Score data into candlestick charts that simplify trend identification.
4. 🔍 Identifying Divergences: The script is equipped to spot divergences between the market price action and the Z-Score, signaling potential bullish or bearish market reversals.
oscHigherLow = haClose > ta.valuewhen(findPivotLow, haClose , 1) and isInRange(findPivotLow )
priceLowerLow = low < ta.valuewhen(findPivotLow, low , 1)
bullishCondition = enablePlotBullish and priceLowerLow and oscHigherLow and findPivotLow
5. 🚨 Configurable Alerts: Lastly, the script allows for the setting of customizable alerts based on the Z-Score, moving averages, and identified divergences, enabling traders to react promptly to market changes.
The ∑ MVRV Z-Score by AlgoAlpha is an essential tool for traders looking to analyze and interpret market dynamics through a quantitatively rigorous lens. Whether you're focused on identifying market extremes or tracking trend momentum, this script offers the insights needed to support informed trading decisions. 🌟📊💡
震盪指標
Rocket RSI from John EhlersWhat is Rocket RSI
Welles Wilder's original description of the relative strength index (RSI) in his 1978 New Concepts In Technical Trading Systems specified a calculation period of 14 days. This requirement led him on a 40-year quest to find the right length of data for calculating indicators and trading strategy rules. Many technicians touched on RSI and explained its applications. In this study we will obtain a more flexible and easier to interpret formulation (of the indicator). We will also estimate the algorithm to properly handle a statistical approach to technical analysis. Start with RSI Here is the original definition of the RSI indicator:
RSI = 100 - 100 / (1 + RS)
RS = Average gain from downtime over the specified time period / Average loss from downtime over the specified time period My first observation is that the factor of 100 is insignificant. Second, there is no need for averages because we take the ratio of closes (CU) to closes (CD) and if we accumulate the wins and losses independently, the averages emerge. Therefore We will only accumulate CU and CD. He can then write the RSI equation as:
RSI = 1 – 1 / (1 + CU / CD)
If he use a little algebra to put everything on a common denominator on the right side of the equation, the indicator equation becomes:
RSI = CU / (CU + CD)
In this formulation, if CU accumulation is zero, the RSI value is zero, and if CD accumulation is zero, the RSI value is 1. If you reduce the price action to its primitive level as a sine wave, it is easy to see that this RSI only has CU going from valley to peak and only CD going from peak to valley. This RSI follows the shape of the sine wave between these two limits. However, the sine wave oscillates between -1 and +1, not between 0 and +1. If we multiply the above equation by 2 and then subtract 1, we can make the RSI have the same swing limits as the sine wave. the product is as follows:
RSI = 2*CU / (CU + CD) – 1
Again, using a little algebra to put the right-hand side of the equation on a common denominator, the equation develops like this:
MyRSI = (CU – CD) / (CU + CD)
Again, the vertical scale of the RocketRSI indicator is in standard deviations. For example, -2 means it is two standard deviations below the mean. Since exceeding two standard deviations in the Gaussian probability distribution occurs in only 2.4% of the results
Because we are using the momentum of the dominant cycle period, the spike where the indicator falls below -2 provides a surgically precise timing signal to enter a long position. Similarly, exceeding the +2 standard deviation level is a timing signal to exit a long position or return to a short position. Therefore using the RocketRSI indicator is relatively intuitive. The only concern is whether a dominant cycle is present in the data, setting the indicator to half the dominant cycle period, and whether smoothing causes lag.
DETERMINING CYCLICAL TURNING POINTS
When you insert the chart you see an example of what the RocketRSI indicator looks like. Here you see that RocketRSI precisely displays cyclical turning points as statistical events. Cator can be applied. I used RS Length 10 because according to Ehlers, stocks and stock indexes usually have a more or less monthly cycle (about 20 bars). A cursory examination of Figure 2 shows that negative increases in the indicator correspond to excellent buying opportunities, while positive increases correspond to excellent selling opportunities. Exceeding +/- 2 on the indicator scale indicates that a cyclical reversal is a high probability event.
RSI MFI WPR Combo [The_lurker]The "RSI MFI WPR Combo" is a sophisticated trading indicator developed for the TradingView platform, which synergistically combines the insights of three renowned technical analysis tools: the Relative Strength Index (RSI), the Money Flow Index (MFI), and the Williams Percent Range (WPR). This indicator is meticulously designed to assist traders in identifying potential buying and selling opportunities through the nuanced interpretation of market momentum, volume, and price position relative to recent highs and lows.
Purpose
The primary objective of the "RSI MFI WPR Combo" indicator is to offer a comprehensive tool that leverages the combined power of RSI, MFI, and WPR to detect overbought and oversold conditions, signaling potential reversal points in the market. This multifaceted approach aims to provide traders with a more robust framework for making informed decisions, enhancing their trading strategy with a multi-indicator analysis.
Indicator Conditions Explained
The core of this indicator lies in its strategic conditions that signal potential entry and exit points:
Oversold Condition (condition): This is identified when the MFI and RSI are both below 30, and the WPR falls below -91, suggesting a strong oversold market state. Such a scenario typically indicates a buying opportunity, assuming the market might rebound from this excessively sold condition.
Divergence Condition (condition1): It checks if the MFI exceeds 1.93 times the RSI. This unique condition aims to spotlight instances where there's a significant influx of money into an asset, which is not proportionately reflected in its RSI, potentially signaling an upcoming price increase or highlighting an unusual market situation for further analysis.
Overbought Warning (conditionExit): The exit signal is triggered when both the MFI and RSI exceed 85, and the WPR is above -15. This combination is indicative of an overbought market condition, suggesting the asset might be overvalued and a price correction or reversal could be imminent, hence signaling a potential selling opportunity or a caution against initiating new positions.
Application and Visualization
The "RSI MFI WPR Combo" not only provides numerical insights but also visualizes these conditions on the TradingView chart. By employing color-coding and plotting shapes, it offers traders an intuitive way to discern market states, enabling quick and effective decision-making. The integration of alert conditions ensures that traders are promptly notified of significant market events, aligning with their strategic trading objectives.
Plotting and Alerts in "RSI MFI WPR Combo"
Combined Alert Condition
The combinedAlertCondition is a logical statement that consolidates all individual conditions (condition, condition1, conditionExit, and The_lurkerMFI_oversold) into a single alert trigger. This condition becomes true and triggers an alert if any of the specified conditions for potential trading opportunities or warnings are met. It's designed to provide a comprehensive alert system that notifies the trader of any significant signal identified by the indicator, encompassing both entry and exit signals as well as oversold conditions.
Visual Indicators
Background Color for Oversold Condition: The script sets the background color to a specific shade of blue (#13c2e9 with 90% transparency) when the custom MFI indicates an oversold condition (The_lurkerMFI_oversold). This visual cue helps traders quickly identify periods when the market might be undervalued and potentially poised for a rebound.
Plotting Warning and Exit Signals:
Entry Signals: For the condition and condition1, which identify potential entry points, the indicator plots upward-pointing triangles below the price bars. These triangles are colored in specific shades to differentiate between the signals from the basic oversold condition and the divergence condition, making it visually intuitive for traders to recognize the signal type.
Exit Signals: For the conditionExit, signaling overbought conditions that might suggest an imminent price correction, downward-pointing red triangles are plotted above the price bars. This acts as a clear visual warning to consider exiting positions or to proceed with caution.
Alert Configuration
The script utilizes the alertcondition function to create an alert based on the combinedAlertCondition. When this condition is met, indicating any of the predefined signa
Conclusion
In summary, the "RSI MFI WPR Combo" stands out as a versatile and dynamic indicator that enriches a trader's toolkit by combining the analytical strengths of RSI, MFI, and WPR. By delineating clear conditions for market entry and exit points, it facilitates a proactive approach to trading, grounded in a detailed examination of market dynamics. This indicator exemplifies how blending multiple technical tools can lead to a more informed and nuanced market analysis, aiming to elevate the trading experience on the TradingView platform
Entry Buy/Sell with Adjustable EMA-WMA Difference by Brian LeThe "Entry Buy/Sell with RSI-WMA Conditions" script, crafted by Brian Le, is a specialized TradingView indicator designed for traders who seek to capitalize on specific RSI (Relative Strength Index) crossover events relative to key moving averages, specifically the EMA (Exponential Moving Average) and WMA (Weighted Moving Average). This tool is particularly useful for identifying potential entry points in a trading strategy, marked by distinctive visual signals on the chart.
Key Features:
Customizable Timeframes and Lengths: Users can adjust the lengths of the RSI, EMA, and WMA, making the indicator versatile across various timeframes and trading styles.
RSI Crossover Signals: The script generates signals based on the RSI crossing over the EMA. A green dot signifies a potential buy signal when the RSI crosses above the EMA, while a red dot indicates a potential sell signal when the RSI crosses below the EMA.
Special Conditions Based on WMA: The indicator enhances decision-making by including the WMA in its analysis. Buy signals (green dots) are only shown when the RSI is below the WMA, and sell signals (red dots) are displayed when the RSI is above the WMA. This additional condition helps in filtering out less probable trades.
EMA and WMA Difference Filter: A unique feature of this script is the ability to set a minimum point difference between the EMA and WMA, adding another layer of specificity to the generated signals.
RSI Threshold Filters: The indicator includes optional filters to show signals only when the RSI is above 40 (for buy signals) or below 60 (for sell signals), aiding in avoiding overbought or oversold conditions.
Enhanced Visuals for Significant Events: For more prominent trading events, such as the RSI crossing both the EMA and WMA within a single candle, the script plots larger symbols (triangles), making these significant events stand out on the chart.
Top Cap ADD%This is a very basic oscillator that plots the average % change of the top 5 highest market cap stocks in the S&P500. It can be easily modified to suit your needs on which stocks you'd like to track, and or filter out the threshold you're looking for.
Asset Rotation ApertureAsset Rotation Aperture visualizes volume accumulation momentum, of multiple assets, side by side.
It's a surgical, multi-purpose leading indicator of price, market narratives and capital rotation.
Each colored line represents the rolling cumulative volume (or open interest) of an asset, index, narrative, or symbol equation. Normalized to each other, relative to each other.
This enables Asset Rotation Aperture to visualize assets and narratives with dramatically different market caps (and therefore different volume accumulation profiles), side by side.
METRIC CONSTRUCTION
Asset Rotation Aperture is a fork of Money Flow Index, like a centered On Balance Volume.
Modified to more effectively lead price, smoothed to more clearly visualize with clarity, and recursively printed.
SYMBOL SELECTION
I highly recommend selecting symbols from exchanges that dominate volume for the asset(s) you're visualizing.
For crypto, this typically means Binance pairs.
Keep the exchange consistent across symbols whenever possible.
To construct an index / narrative, use the following formula format:
(BINANCE:UNIUSDT*BINANCE:SNXUSDT*BINANCE:AAVEUSDT*BINANCE:CRVUSDT)^(1/4)
THE Y AXIS
The Y axis represents the asset's percentage of volume accumulated, relative to its norm AND relative to other assets.
It's a made up figure, and I recommend ignoring it.
A visual scan of the data viz is more effective than studying any Y-axis output.
Intraday volume pressureThis indicator shows the difference of bullish and bearish trading volume during intraday
The idea
Especially in "6E1!" it caught my eye, that often outside regular trading hours the price moves in one direction with thin volume and inside regular trading hours it moves back with much higher volume. It is possible, that the market closes e.g. with a plus. And over some days maybe you can see e.g. weak rising prices. But in this time the movements with high volume are going down every day. And one day - maybe within view minutes - the market rushs a level deeper.
Maybe some are manipulating the market in this way, maybe not, it doesn't matter. So my question was, can I find a way to show such divergences? I guess I can do.
How to use this indicator
Use it at your own risk! I don't take over any responsibility. You are the only one, who is responsible for your decisions. Always collect information from different independent sources!
Watch it in the daily chart - not intraday, not weekly! Of course this indicator just analyzes the past as all indicators. Everytime everything may happen that influences the market in any direction, no indicator can predict any news.
Watch it in sideways market or when the price is moving quite slow over days! An average volume pressure
below zero shows a volume-driven bearish pressure
above zero shows a volume-driven bullish pressure
of the last days. So there is a chance, that the market may follow the volume pressure within the next days. But of course, I cannot guarantee anything. The indicator just can give you an idea, why this will happen, when it will happens. Otherwise, the indicator indicated nothing helpfull.
Of course you also can try other securities. Maybe it will work there better or worse - difficult to say. I guess, it depends on the market.
Possible settings aside of colors
Intraday minute bars: Default is 15 minutes, in 6E in my point of view it is a good value. If you choose a smaller value, the chart gets too noisy, the results are getting too small. With a bigger timeframe some moves are hidden in bigger candles, the results are getting a large spread
Average over days: Default is 5 days - so one week. In 6E in my point of view it is a good value. A smaller value is too noisy. A bigger value reacts too slow. Often 6E has a trend over weeks. Sometimes it changes within some days - the indicator may help. But sometimes the market changes with a buying or selling climax. Such a case this indicator cannot recognize. But with the 5 days average maybe you get a change in the indicator within one or two days. Anyway, it is always a good idea to learn recognizing climaxes otherwise.
How the indicator works
It uses the function request.security_lower_tf to get the intraday candles. The volume of intraday up-candles is added to the intraday summary volume. The volume of down candles is substracted from the intraday summary volume.
In the oscillator area I plot a green bar on a day with a higher close than open and a red bar on a day with a lower close than open. The bar has a positive value, if the volume pressure is positive and a negative value if the volume pressure is negative. So it happens, that a green bar has a negative value or a red bar has a positive value.
The average is calculated with a floating sum. Once we have enough days calculated, I devide the floating sum by the length of the "Average over days" and plot the result. Then I substract the first value of the queue and I remove it.
SuperTrend Fisher [AlgoAlpha]🚀🌟 Introducing the "Super Fisher" by AlgoAlpha, a sophisticated and versatile tool crafted for the discerning trader. This innovative indicator merges the precision of the Fisher Transform with the adaptability of the SuperTrend methodology, offering a fresh perspective on market analysis. 📈🔍
Key Features:
🔶 Customizable Settings: Tailor the indicator to your trading style with adjustable inputs like "Fair-value Period" and "EMA Length". Choose your preferred "Up Color" and "Down Color" for a personalized visual experience.
🔶 Advanced Fisher Transform: At the heart of this tool is the Fisher Transform, an algorithm renowned for pinpointing potential price reversals by normalizing asset prices.
🔶 Integrated SuperTrend Functionality: This feature adds a layer of trend analysis, using the refined Fisher Transform values to generate dynamic, trend-following signals.
🔶 Enhanced Visualization: Clearly distinguishable bullish and bearish market phases, thanks to the color-coded plots of Fisher Transform and SuperTrend values.
🔶 Overbought/Oversold Levels: Visual plots and fills for these levels provide additional insights into market extremities.
🔶 Configurable Alerts: Stay informed with alerts for critical market movements like crossing the zero line or the SuperTrend.
Logic:
The "Super Fisher" operates on a sophisticated algorithm:
1. Fisher Transform Calculation: It starts by calculating the Detrended Price Oscillator (DPO) and its standard deviation. These values are then transformed using the Fisher Transform formula, which is subsequently smoothed with a Hull Moving Average.
2. SuperTrend Integration: The SuperTrend function employs the Fisher Transform values to create a dynamic trend-following tool. It calculates upper and lower bands and determines which one to use for market direction based on whether the fisher is above or below the bands, offering an insightful view of the price trend.
3. Overbought/Oversold Identification: The tool plots specific levels to indicate overbought and oversold conditions, aiding in the identification of potential reversal points.
Here's a closer look at the core calculations:
Calculates the Fisher Transform:
value = 0.0
value := round_(.66 * ((src - low_) / (high_ - low_) - .5) + .67 * nz(value ))
fish1 = 0.0
fish1 := .5 * math.log((1 + value) / (1 - value)) + .5 * nz(fish1 )
fish1 := ta.hma(fish1, l)
Calculates the SuperTrend:
supertrend(factor, atrPeriod, srcc) =>
src = srcc
atr = atrr(srcc, atrPeriod)
upperBand = src + factor * atr
lowerBand = src - factor * atr
prevLowerBand = nz(lowerBand )
prevUpperBand = nz(upperBand )
lowerBand := lowerBand > prevLowerBand or srcc < prevLowerBand ? lowerBand : prevLowerBand
upperBand := upperBand < prevUpperBand or srcc > prevUpperBand ? upperBand : prevUpperBand
int direction = na
float superTrend = na
prevSuperTrend = superTrend
if na(atr )
direction := 1
else if prevSuperTrend == prevUpperBand
direction := srcc > upperBand ? -1 : 1
else
direction := srcc < lowerBand ? 1 : -1
superTrend := direction == -1 ? lowerBand : upperBand
How to Use:
📊 To maximize the potential of the "Super Fisher", follow these steps:
1. Customize Settings: Adjust the inputs to match your trading preferences. This includes setting the periods for the Fisher Transform and SuperTrend, as well as choosing colors for better visualization.
2. Analyze the Market: Observe the Fisher Transform and SuperTrend plots to gauge market direction. Pay special attention to color changes, as they indicate shifts in market sentiment.
3. Identify Extremes: Use the overbought and oversold plots to understand potential reversal points.
4. Set Alerts: Utilize the alert functionality to stay informed about significant market movements, ensuring you never miss an opportunity.
🔥 In summary the "Super Fisher" is a comprehensive market analysis tool designed to enhance your trading insights and decision-making process. 📉🌟🚨
Risk Metric combinedAttempt at replicating a simplified Risk-Metric for BTC.
Original code written by user Oakley Wood.
Based on 3 different approaches:
- deviation from 4 year sma
- ln(btc / 20 wma)
- 50D MA / 50W MA
MUJBOT - Multi-TF RSI Table
The "Multi-TF RSI Table" indicator is a comprehensive tool designed to present traders with a quick visual summary of the Relative Strength Index (RSI) across multiple timeframes, all within a single glance. It is crafted for traders who incorporate multi-timeframe analysis into their trading strategy, aiming to enhance decision-making by identifying overall market sentiment and trend direction. Here's a rundown of its features:
User Inputs: The indicator includes customizable inputs for the RSI and Moving Average (MA) lengths, allowing users to tailor the calculations to their specific trading needs. Additionally, there is an option to display or hide the RSI & MA table as well as to position it in various places on the chart for optimal visibility.
Multi-Timeframe RSI & MA Calculations: It fetches RSI and MA values from different timeframes, such as 1 minute (1m), 5 minutes (5m), 15 minutes (15m), 1 hour (1h), 4 hours (4h), and 1 day (1D). This multi-timeframe approach provides a thorough perspective of the momentum and trend across different market phases.
Trend and Sentiment Analysis: For each timeframe, the script determines whether the average RSI is above or below the MA, categorizing the trend as "Rising", "Falling", or "Neutral". Moreover, it infers market sentiment as "Bullish" or "Bearish", based on the relationship between the RSI and its MA.
Dynamic Color-Coding: The indicator uses color-coding to convey information quickly. It highlights the trend and sentiment cells in the table with green for "Bullish" and red for "Bearish" conditions. It also shades the timeframe cells based on the RSI value, with varying intensities of green for "Oversold" conditions and red for "Overbought" conditions, providing an immediate visual cue of extreme market conditions.
Customization and Adaptability: The script is designed with customization in mind, enabling users to adjust the RSI and MA lengths according to their trading strategy. Its adaptable interface, which offers the option to display or hide the RSI & MA table, ensures that the tool fits into different trading setups without cluttering the chart.
Ease of Use: By consolidating critical information into a simple table, the "Multi-TF RSI Table" indicator saves time and simplifies the analysis process for traders. It eliminates the need to switch between multiple charts or timeframes, thus streamlining the trading workflow.
In essence, the "Multi-TF RSI Table" is a powerful indicator for Pine Script users on TradingView, offering a multi-dimensional view of market dynamics. It is ideal for both novice and experienced traders who seek to enhance their technical analysis with an at-a-glance summary of RSI trends and market sentiment across various timeframes.
Williams Percent Range with Trendlines and BreakoutsHere is my "Williams Percent Range with Trendlines and Breakouts" indicator, a simple yet powerful tool for traders. This indicator combines the classic Williams %R oscillator, which helps identify overbought and oversold levels, with added trendlines for easier trend analysis at a glance.
It's designed to make spotting potential breakouts easier by drawing attention to significant price movements. With customizable settings for the Williams %R period and trendline sensitivity, it's a flexible tool for various symbols and trading styles.
Whether you're looking to refine your trading strategy or just need a clearer view of market trends, this indicator should offer a straight forward approach to hopefully enhance your trading decisions.
Disclaimer: This indicator is intended for educational and informational purposes only. Always conduct your own research and analysis before making trading decisions.
QQE MOD + SSL Hybrid + Waddah Attar Explosion IndicatorINDICATOR PURPOSE
This indicator is designed to complement my original QQE MOD + SSL Hybrid + Waddah Attar Explosion strategy.
Multiple users have requested that I convert the strategy to an indicator because alertconditions do not work on strategies and people want to specific set alerts for BUY, SELL, CLOSE BUY and CLOSE SELL. This can only be achieved using alertcondition().
This indicator functions in the exact same way as the strategy, but it doesn't have any backtesting functionality. I recomment that you use the original QQE MOD + SSL Hybrid + Waddah Attar Explosion strategy for parameter tuning and backtesting, then if you need more control on alerts you can use this indicator for that purpose.
Only other difference is that I have added grey exit labels on the chart since it's not obvious where the exits would happen like it was in the strategy version.
CREDITS
QQE MOD byMihkel00
SSL Hybrid by Mihkel00
Waddah Attar Explosion by shayankm
RSI in Candlestick MODEDescription:
The "RSI Bar" indicator is a versatile tool designed to enhance your technical analysis on trading charts. This Pine Script™ code calculates the Relative Strength Index (RSI) for open, close, high, and low prices, and represents the results as bars on the chart. The bars are color-coded based on whether the closing RSI is higher or lower than the opening RSI.
Additionally, the indicator incorporates advanced features such as Pareto analysis and Gaussian smoothing. The Pareto analysis helps identify significant lows and highs in the RSI, providing insights into potential trend reversals. The Gaussian smoothing further refines the analysis, contributing to a more accurate representation of the average RSI trend.
Key Features:
RSI calculation for open, close, high, and low prices.
Color-coded bars for easy visualization of RSI trends.
Pareto analysis to highlight key RSI levels indicating potential reversals.
Gaussian smoothing for improved trend analysis and visualization.
Heiken-Ashi
Rotation Factor for TPO and OHLC (Plot)The Rotation Factor objectively measures attempted market direction(or market sentiment) for a given period. It records the cumulative directional attempts of auction rotations within a given period, thus, helping traders determine which way the market is trying to go and which market participant is exerting greater control or influence.
Theory
The premise is that a greater number of bars auctioning higher contrasted to bars auctioning lower indicates that buyers are exerting greater control over price within the given period(usually daily). In this case, the market is attempting to go higher (Market is Bullish). The same is true for a greater number of bars auctioning lower than higher, which, in this case, indicates that the sellers are exerting greater control over price within the given period and that the market is attempting to go lower (Market is Bearish).
Calculation
Each bar is individually measured in relation to the immediate previous bar, and calculations are reset at the beginning of each period.
For every bar, two variables are utilised: One for the highs and another for the lows. During bar start, these variables are initiated at 0.
As the period progresses, these variables are set accordingly: If the high of the current bar is higher than that of the previous bar, then the bar's highs variable is assigned a "+1". If the opposite is true, it is given a "-1". Finally, if both bar highs are equal, it is, instead, assigned a "0". The same is true for the lows: if the low of the current bar is higher than that of the previous low, then the bar's lows variable is assigned a "+1". Similarly, the opposite is given a "-1", while equal lows causes it to be assigned a "0". All highs and lows are then summed together resulting to a total, which becomes the Rotational Factor.
Presentation
Furthermore, this Rotation Factor Indicator is presented as a plot, which, unlike its classic variation, shows you how the rotation factor is developing. It also includes lines indicating the Top Rotation Factor and the Bottom Rotation Factor individually, the better to observe the developing auction.
Link to the Classic Variation:
Features
1. Customisable Tick Size/Granularity : The calculation tick size/ granularity is customisable which can be accessed through the indicator settings.
2. Customisable Labels and Lines : The colour and sizes used by the labels and lines are customisable the better for accessibility.
3. Period Separator : A separator is rendered to represent period borders (start and end). If separators are already present on your chart, you can remove them from the indicator settings.
4. Individual Top Rotation Factor and Bottom Rotation Factor plots : These two parts which becomes of the Rotation Factor are also presented individually, on their own plots, the better to observe the developing auction.
Works for both split Market Profile(TPO) charts and regular OHLC bars/candle charts
The Rotation Factor is usually used with a Split Market Profile (TPO). However, if no such tool is available, you will still be able to benefit from the Rotation Factor as the price ranges of Split Market Profiles and OHLC bars/candles are one and the same. In such cases, it is recommended that you set your chart to use a 30 minute timeframe and the indicator's period to "daily" to simulate a Split Market Profile.
Note :
The Rotation Factor is, to quote, "by no means not an all-conclusive indication of future market direction.". It only helps determine which way the market is trying to go by objectively measuring the market's directional attempts.
Standardized Orderflow [AlgoAlpha]Introducing the Standardized Orderflow indicator by AlgoAlpha. This innovative tool is designed to enhance your trading strategy by providing a detailed analysis of order flow and velocity. Perfect for traders who seek a deeper insight into market dynamics, it's packed with features that cater to various trading styles. 🚀📊
Key Features:
📈 Order Flow Analysis: At its core, the indicator analyzes order flow, distinguishing between bullish and bearish volume within a specified period. It uses a unique standard deviation calculation for normalization, offering a clear view of market sentiment.
🔄 Smoothing Options: Users can opt for a smoothed representation of order flow, using a Hull Moving Average (HMA) for a more refined analysis.
🌪️ Velocity Tracking: The indicator tracks the velocity of order flow changes, providing insights into the market's momentum.
🎨 Customizable Display: Tailor the display mode to focus on either order flow, order velocity, or both, depending on your analysis needs.
🔔 Alerts for Critical Events: Set up alerts for crucial market events like crossover/crossunder of the zero line and overbought/oversold conditions.
How to Use:
1. Setup: Easily configure the indicator to match your trading strategy with customizable input parameters such as order flow period, smoothing length, and moving average types.
2. Interpretation: Watch for bullish and bearish columns in the order flow chart, utilize the Heiken Ashi RSI candle calculation, and look our for reversal notations for additional market insights.
3. Alerts: Stay informed with real-time alerts for key market events.
Code Explanation:
- Order Flow Calculation:
The core of the indicator is the calculation of order flow, which is the sum of volumes for bullish or bearish price movements. This is followed by normalization using standard deviation.
orderFlow = math.sum(close > close ? volume : (close < close ? -volume : 0), orderFlowWindow)
orderFlow := useSmoothing ? ta.hma(orderFlow, smoothingLength) : orderFlow
stdDev = ta.stdev(orderFlow, 45) * 1
normalizedOrderFlow = orderFlow/(stdDev + stdDev)
- Velocity Calculation:
The velocity of order flow changes is calculated using moving averages, providing a dynamic view of market momentum.
velocityDiff = ma((normalizedOrderFlow - ma(normalizedOrderFlow, velocitySignalLength, maTypeInput)) * 10, velocityCalcLength, maTypeInput)
- Display Options:
Users can choose their preferred display mode, focusing on either order flow, order velocity, or both.
orderFlowDisplayCond = displayMode != "Order Velocity" ? display.all : display.none
wideDisplayCond = displayMode != "Order Flow" ? display.all : display.none
- Reversal Indicators and Divergences:
The indicator also includes plots for potential bullish and bearish reversals, as well as regular and hidden divergences, adding depth to your market analysis.
bullishReversalCond = reversalType == "Order Flow" ? ta.crossover(normalizedOrderFlow, -1.5) : (reversalType == "Order Velocity" ? ta.crossover(velocityDiff, -4) : (ta.crossover(velocityDiff, -4) or ta.crossover(normalizedOrderFlow, -1.5)) )
bearishReversalCond = reversalType == "Order Flow" ? ta.crossunder(normalizedOrderFlow, 1.5) : (reversalType == "Order Velocity" ? ta.crossunder(velocityDiff, 4) : (ta.crossunder(velocityDiff, 4) or ta.crossunder(normalizedOrderFlow, 1.5)) )
In summary, the Standardized Orderflow indicator by AlgoAlpha is a versatile tool for traders aiming to enhance their market analysis. Whether you're focused on short-term momentum or long-term trends, this indicator provides valuable insights into market dynamics. 🌟📉📈
Standardized Median Proximity [AlgoAlpha]Introducing the Standardized Median Proximity by AlgoAlpha 🚀📊 – a dynamic tool designed to enhance your trading strategy by analyzing price fluctuations relative to the median value. This indicator is built to provide clear visual cues on the price deviation from its median, allowing for a nuanced understanding of market trends and potential reversals.
🔍 Key Features:
1. 📈 Median Tracking: At the core of this indicator is the calculation of the median price over a specified lookback period. By evaluating the current price against this median, the indicator provides a sense of whether the price is trending above or below its recent median value.
medianValue = ta.median(priceSource, lookbackLength)
2. 🌡️ Normalization of Price Deviation: The deviation of the price from the median is normalized using standard deviation, ensuring that the indicator's readings are consistent and comparable across different time frames and instruments.
standardDeviation = ta.stdev(priceDeviation, 45)
normalizedValue = priceDeviation / (standardDeviation + standardDeviation)
3. 📌 Boundary Calculations: The indicator sets upper and lower boundaries based on the normalized values, helping to identify overbought and oversold conditions.
upperBoundary = ta.ema(positiveValues, lookbackLength) + ta.stdev(positiveValues, lookbackLength) * stdDevMultiplier
lowerBoundary = ta.ema(negativeValues, lookbackLength) - ta.stdev(negativeValues, lookbackLength) * stdDevMultiplier
4. 🎨 Visual Appeal and Clarity: With carefully chosen colors, the plots provide an intuitive and clear representation of market states. Rising trends are indicated in a shade of green, while falling trends are shown in red.
5. 🚨 Alert Conditions: Stay ahead of market movements with customizable alerts for trend shifts and impulse signals, enabling timely decisions.
alertcondition(ta.crossover(normalizedValue, 0), "Bullish Trend Shift", "Median Proximity Crossover Zero Line")
🔧 How to Use:
- 🎯 Set your preferred lookback lengths and standard deviation multipliers to tailor the indicator to your trading style.
- 💹 Utilize the boundary plots to understand potential overbought or oversold conditions.
- 📈 Analyze the color-coded column plots for quick insights into the market's direction relative to the median.
- ⏰ Set alerts to notify you of significant trend changes or conditions that match your trading criteria.
Basic Logic Explained:
- The indicator first calculates the median of the selected price source over your chosen lookback period. This median serves as a baseline for measuring price deviation.
- It then standardizes this deviation by dividing it by the standard deviation of the price deviation over a 45-period lookback, creating a normalized value.
- Upper and lower boundaries are computed using the exponential moving average (EMA) and standard deviation of these normalized values, adjusted by your selected multiplier.
- Finally, color-coded plots provide a visual representation of these calculations, offering at-a-glance insights into market conditions.
Remember, while this tool offers valuable insights, it's crucial to use it as part of a comprehensive trading strategy, complemented by other analysis and indicators. Happy trading!
🚀
Volume Oscillators Focus IndicatorVolume Oscillators Focus Indicator
Short name VolumeFocus
This indicator seeks to show episodes of high and low volumes analyzing these by calculating three lines and create colorings on the basis of where these lines go relative to each other.
The first line is a percent based on the current volume level, for which a 3 period sma is taken.
It is calculated by using the lowest volume in the lookback as zero, the highest as 100 percent
This line is called “current volume level”
The second line is a percent, based on the median volume of the last five periods. This line is called “new normal volume”
The third line is a percent, based on the median volume of the lookback period. This is called “old normal volume”
For the second and third line the lowest “new normal volume” in the lookback is used as zero while the 100 percent level is the same as in the calculation of the first line.
The reasoning for the colors is as follows:
When both current en new normal level are below old normal, the volume is to be considered ‘low’. When volume is low, the background color is gray and the fill color between the old normal and current lines is navy.
When both current and new normal level are above old normal, the volume is to be considered ‘significantly expanded’. When this happens the fill color between current and old normal is orange.
When volume is not low it is considered normal or high and the background color is green.
The lookback is set to 50, it advise to keep it that way.
Use of the indicator.
Volume results from focus of the market on the instrument. When the price seems correct, some buy it, some sell it but most don’t care. Then the volume is low, the background is gray. The navy fill color indicates ‘how low’.
When the price seems off, many will care and start trading. Then volume is high, background is green. When the trading is really heating up the orange fill color appears, showing that the market has high focus on this instrument, perhaps move in a trend.
Of course we don’t know in which way the market tries to ‘correct’ the price, for that purpose I use this indicator together with REVE Cohorts which provide useful markers to explain what the excess volume means.
Eykpunter
Composite Bull-Bear Dominance IndexNote: CREDITS: This is based on the Up Down Volume Indicator (published in Trading View) and Elder Ray Index (Bull Bear Power).
The Composite Bull Bear Dominance Index (CBBDI) is a indicator that combines up down volume analysis with Bull and Bear Power to provide a comprehensive view of market dynamics. It calculates Z-scores for up down volume delta and bull bear power measures, averages them, and then smoothes the result using Weighted Moving Average (WMA) for Bull and Bear Power and Volume Weighted Moving Average (VWMA) for Up and Down Volume Delta. The advantages include responsiveness to short-term trends, noise reduction through weighting, incorporation of volume information, and the ability to identify significant changes in buying and selling pressure. The indicator aims to offer clear signals for traders seeking insights into overall market dominance and indicate if the bulls or the bears have the upper hand.
Volume Analysis (Up/Down Volume Delta):
Up/Down Volume Delta reflects the net difference between buying and selling volume, providing insights into the prevailing market sentiment.
Positive Delta: Indicates potential bullish dominance due to higher buying volume.
Negative Delta: Suggests potential bearish dominance as selling volume surpasses buying volume.
Price Analysis (Bull and Bear Power):
Bull and Bear Power measure the strength of buying and selling forces based on price movements and the Exponential Moving Average (EMA) of the closing price.
Positive Bull Power: Reflects bullish dominance, indicating potential upward momentum.
Positive Bear Power: Suggests bearish dominance, indicating potential downward momentum.
Composite Bull Bear Dominance Index (CBBDI):
CBBDI combines the standardized Z-scores of Up/Down Volume Delta and Bull Bear Power, providing an average measure of both volume and price-related dominance.
Positive CBBDI: Indicates an overall bullish dominance in both volume and price dynamics.
Negative CBBDI: Suggests an overall bearish dominance in both volume and price dynamics.
Smoothing Techniques:
The use of Weighted Moving Average (WMA) for smoothing Bull and Bear Power Z-scores, and Volume Weighted Moving Average (VWMA) for smoothing Up/Down Volume Delta, reduces noise and provides a clearer trend signal.
Smoothing helps filter out short-term fluctuations and emphasizes more significant trends in both volume and price movements.
Color Coding:
CBBDI values are color-coded based on their direction, visually representing the prevailing market sentiment.
Green Colors: Positive values indicate potential bullish dominance.
Red Colors: Negative values suggest potential bearish dominance.
RSI Missmatch(Divergence) OSC. by Neo_ with Missmatch Alert█ Definition
A divergence or missmatch occurs when an asset’s price is moving opposite to a specific technical indicator or is moving in a different direction from other relevant data. The divergence indicator warns traders and technical analysts of changes in a price trend, oftentimes that it is weakening or changing direction.
Divergence or missmatch can be either positive, signifying the possibility of a move that is higher in the asset’s price, or it can be negative, signifying the possibility of a move that is lower in the asset’s price.
█ Takeaways
Divergence or missmatch often works with other indicators and data. It is usually used by technical analysts and traders when the asset’s price is moving counter to the direction of another indicator.
As mentioned above, positive divergence or missmatch indicates that the price could start rising and usually occurs when the price is moving lower, but while another indicator counters this direction by moving higher. In other words, showing bullish signals.
Negative divergence or missmatch indicates that the price could start declining and usually occurs when the price is moving higher, while another indicator moves lower as well. In other words, showing bearish signals.
█ What to look for
Divergence or missmatch is most often used to track and analyze the momentum in an asset’s price and the odds of a price reversal within the current trend. While using divergence, traders and analysts can decide on whether or not they would like to exit the position or set a stop loss in the case the divergence is negative and prices begin to fall.
█ Limitations
It is best to use divergence or missmatch with the aid of other indicators and analysis tools in order to help identify and confirm trend reversals and major market patterns. Divergence should not be relied on by itself to tell you the pertinent information you need to know as an investor. Risk control is key in your analysis and the fact that divergence is not always present in price reversals should definitely be what pushes you to combine it with other tools and indicators.
Additionally, divergence or missmatch can reflect long-term or short-term changes. When making snap decisions, acting on divergence alone could prove detrimental to your trading. Make sure you have other risk factors applied to your charting and general market analysis.
█ What exactly is RSI Missmatches discrepancies using a lookback period in trading?
In trading, lookback period is the number of periods of historical data used for observation and calculation. It is how far into the past the system looks when trying to calculate the variable under consideration. The concept was based on the fact that history can provide information about the future, and my aim was to predict the periods when trend changes would begin within these periods with the RSI oscillator. But this is only true if you're locked back far enough, not locked any further or less!
We already use the idea of looking back in different aspects of our lives, and even in the world of financial trading it can be used in various ways. Of course you will want to learn more about the concept, so in this article we will cover the following topics:
█ What kind of hindsight is this?
The aim here is to check whether trends will change in certain cycles, so we chose the High + Low / 2 formula as the source. Because no matter how much the prices swing up or down, sometimes the rebound can go further. The aim here is to notice the points where the price leaves a needle at the levels where it oscillates and the slowdown in momentum.
█ What does look-back period mean in trade?
To understand what a lookback period means in trading, you need to ask yourself: What is a lookback period in trading? In financial trading, period refers to the duration of a particular trading session. For example, a one-week period means one full week of trading sessions or five trading days. In 5 trading days, the average time is 120 hours in FX markets and 40 hours in stock markets. Regardless of what happens in these cycles, I prefer to choose a time period of 55 periods. Because I noticed that in all the charts I examined, the cycles generally changed during this time period.
█ Let's talk about the meaning of catching Missmatches
As you know, technical indicators are all a mathematical calculation using historical market data (price, volume, or a combination of both). It shows the behavior of the price better and helps in the analysis of price movement. But the indicator can only serve your intended purpose if you get the lookback time right. What we mean here is the setting parameter that determines how much historical data it will use in its calculation. In other words, it is the retrospective review period.
For example, on the RSI indicator you can set this period to 13 periods (default setting) or even 2 periods. The period you choose can determine what the indicator tells you, which in turn determines the strategy you can create with the indicator. The 13- period RSI gives you information about price momentum, so you can effectively use it to create a momentum strategy. On the other hand, the 2-periods RSI can be used to create a mean reversion strategy. To catch any incompatibilities, I set this period to 55 periods. Nothing more, nothing less!
█ Summary
The missmatch indicator helps traders assess changes in the price trend and indicates when price will move with or against the direction of another indicator. It can be either positive or negative, but it is important to note its limitations and that it should be used with other indicators that can also monitor price trends.
We wish you to identify these incompatibilities in the market in the best way possible... Good luck.
█ Tanım
Bir varlığın fiyatı belirli bir teknik göstergenin tersi yönünde hareket ettiğinde veya diğer ilgili verilerden farklı bir yönde hareket ettiğinde bir sapma veya uyumsuzluk meydana gelir. Farklılık göstergesi, tüccarları ve teknik analistleri fiyat eğilimindeki değişiklikler konusunda uyarır; çoğu zaman zayıflıyor veya yön değiştiriyor.
Farklılık veya uyumsuzluk, varlığın fiyatında daha yüksek bir hareket olasılığını işaret ederek pozitif olabilir veya varlığın fiyatında daha düşük bir hareket olasılığını işaret ederek negatif olabilir.
█ Çıkarımlar
Farklılık veya uyumsuzluk çoğu zaman diğer göstergeler ve verilerle de çalışır. Genellikle teknik analistler ve yatırımcılar tarafından varlığın fiyatı başka bir göstergenin yönünün tersine hareket ettiğinde kullanılır.
Yukarıda bahsedildiği gibi pozitif sapma veya uyumsuzluk, fiyatın yükselmeye başlayabileceğini gösterir ve genellikle fiyat düşerken meydana gelir, ancak başka bir gösterge bu yöne yükselerek karşı koyar. Başka bir deyişle yükseliş sinyalleri veriyor.
Negatif sapma veya uyumsuzluk, fiyatın düşmeye başlayabileceğini gösterir ve genellikle fiyat yükselirken başka bir gösterge de düşerken meydana gelir. Başka bir deyişle düşüş sinyalleri veriyor.
█ Nelere bakılmalı
Farklılık veya uyumsuzluk çoğunlukla bir varlığın fiyatındaki momentumu ve mevcut trend içinde fiyatın tersine dönme olasılığını izlemek ve analiz etmek için kullanılır. Farklılaşmayı kullanırken tüccarlar ve analistler, sapmanın negatif olması ve fiyatların düşmeye başlaması durumunda pozisyondan çıkmak isteyip istemeyeceklerine veya zararı durdurma kararı verip veremeyeceklerine karar verebilirler.
█ Sınırlamalar
Trend dönüşlerini ve ana piyasa modellerini tanımlamaya ve doğrulamaya yardımcı olmak için diğer göstergeler ve analiz araçlarının yardımıyla sapmayı veya uyumsuzluğu kullanmak en iyisidir. Bir yatırımcı olarak bilmeniz gereken ilgili bilgileri size söylemesi için farklılığa tek başına güvenilmemelidir. Risk kontrolü analizinizin anahtarıdır ve fiyat dönüşlerinde farklılığın her zaman mevcut olmaması gerçeği kesinlikle sizi onu diğer araç ve göstergelerle birleştirmeye iten şey olmalıdır.
Ek olarak, farklılık veya uyumsuzluk uzun vadeli veya kısa vadeli değişiklikleri yansıtabilir. Ani kararlar verirken yalnızca farklılıklara göre hareket etmek ticaretinize zarar verebilir. Grafiğinize ve genel piyasa analizinize başka risk faktörlerinin uygulandığından emin olun.
█ Ticarette yeniden inceleme dönemi kullanan RSI Missmatches tutarsızlıkları tam olarak nedir?
Ticarette yeniden inceleme süresi, gözlem ve hesaplama için kullanılan geçmiş verilerin dönemlerinin sayısıdır. Söz konusu değişkeni hesaplamaya çalışırken sistemin ne kadar geçmişe baktığıdır. Konsept tarihin geleceğe dair bilgi verebileceği gerçeği üzerine kuruluydu ve amacım RSI osilatörü ile bu dönemler içerisinde trend değişimlerinin başlayacağı dönemleri tahmin etmekti. Ancak bu yalnızca yeterince geriye kilitlenmişseniz geçerlidir, daha fazla veya daha az kilitlenmemişseniz!
Geriye bakma fikrini hayatımızın farklı yönlerinde zaten kullanıyoruz ve hatta finansal ticaret dünyasında bile bu fikir çeşitli şekillerde kullanılabilir. Elbette konsept hakkında daha fazla bilgi edinmek isteyeceksiniz, bu nedenle bu yazıda aşağıdaki konuları ele alacağız:
█ Bu nasıl bir sonradan görmedir?
Burada amaç belli döngülerde trendlerin değişip değişmeyeceğini kontrol etmek olduğundan kaynak olarak Yüksek + Düşük / 2 formülünü seçtik. Çünkü fiyatlar ne kadar yukarı veya aşağı hareket ederse etsin bazen toparlanma daha da ileri gidebiliyor. Burada amaç fiyatın salınım yaptığı seviyelerde iğne bıraktığı noktaları ve momentumdaki yavaşlamayı fark etmektir.
█ Ticarette geriye bakma süresi ne anlama geliyor?
Ticarette yeniden inceleme süresinin ne anlama geldiğini anlamak için kendinize şu soruyu sormanız gerekir: Ticarette yeniden inceleme süresi nedir? Finansal ticarette dönem, belirli bir ticaret seansının süresini ifade eder. Örneğin, bir haftalık dönem, bir tam haftalık işlem seansı veya beş işlem günü anlamına gelir. 5 işlem gününde ortalama süre döviz piyasalarında 120 saat, borsalarda ise 40 saattir. Bu döngülerde ne olursa olsun 55 periyotluk bir zaman dilimini seçmeyi tercih ediyorum. Çünkü incelediğim tüm grafiklerde bu zaman diliminde döngülerin genel olarak değiştiğini fark ettim.
█ Kaçak Eşleşmeleri yakalamanın anlamı hakkında konuşalım
Bildiğiniz gibi teknik göstergeler, geçmiş piyasa verileri (fiyat, hacim veya her ikisinin birleşimi) kullanılarak yapılan matematiksel hesaplamalardır. Fiyatın davranışını daha iyi gösterir ve fiyat hareketinin analizine yardımcı olur. Ancak gösterge yalnızca yeniden inceleme süresini doğru yaparsanız amacınıza hizmet edebilir. Burada kast ettiğimiz, hesaplamasında ne kadar geçmiş veri kullanacağını belirleyen ayar parametresidir. Bir başka deyişle geriye dönük inceleme dönemidir.
Örneğin RSI göstergesinde bu süreyi 13 döneme (varsayılan ayar) ve hatta 2 döneme ayarlayabilirsiniz. Seçeceğiniz dönem, göstergenin size ne söyleyeceğini belirleyebilir ve bu da gösterge ile oluşturabileceğiniz stratejiyi belirler. 13 dönemlik RSI size fiyat momentumu hakkında bilgi verir, böylece onu bir momentum stratejisi oluşturmak için etkili bir şekilde kullanabilirsiniz. Öte yandan, ortalamaya dönüş stratejisi oluşturmak için 2 dönemlik RSI kullanılabilir. Herhangi bir uyumsuzluğu yakalamak için bu periyodu 55 periyoda ayarladım. Ne fazla ne eksik!
█ Özet
Uyumsuzluk göstergesi, yatırımcıların fiyat eğilimindeki değişiklikleri değerlendirmesine yardımcı olur ve fiyatın ne zaman başka bir göstergenin yönüne göre veya ona karşı hareket edeceğini gösterir. Olumlu ya da olumsuz olabilir, ancak sınırlamalarına dikkat etmek ve fiyat eğilimlerini de izleyebilecek diğer göstergelerle birlikte kullanılması gerektiğini unutmamak önemlidir.
Piyasadaki bu uyumsuzlukları en iyi şekilde tespit etmenizi dileriz... Bol Kazançlar.
Median Proximity Percentile [AlgoAlpha]📊🚀 Introducing the "Median Proximity Percentile" by AlgoAlpha, a dynamic and sophisticated trading indicator designed to enhance your market analysis! This tool efficiently tracks median price proximity over a specified lookback period and finds it's percentile between 2 dynamic standard deviation bands, offering valuable insights for traders looking to make informed decisions.
🌟 Key Features:
Color-Coded Visuals: Easily interpret market trends with color-coded plots indicating bullish or bearish signals.
Flexibility: Customize the indicator with your preferred price source and lookback lengths to suit your trading strategy.
Advanced Alert System: Stay ahead with customizable alerts for key trend shifts and market conditions.
🔍 Deep Dive into the Code:
Choose your preferred price data source and define lookback lengths for median and EMA calculations. priceSource = input.source(close, "Source") and lookbackLength = input.int(21, minval = 1, title = "Lookback Length")
Calculate median value, price deviation, and normalized value to analyze market position relative to the median. medianValue = ta.median(priceSource, lookbackLength)
Determine upper and lower boundaries based on standard deviation and EMA. upperBoundary = ta.ema(positiveValues, lookbackLength) + ta.stdev(positiveValues, lookbackLength) * stdDevMultiplier
lowerBoundary = ta.ema(negativeValues, lookbackLength) - ta.stdev(negativeValues, lookbackLength) * stdDevMultiplier
Compute the percentile value to track market position within these boundaries. percentileValue = 100 * (normalizedValue - lowerBoundary)/(upperBoundary - lowerBoundary) - 50
Enhance your analysis with Hull Moving Average (HMA) for smoother trend identification. emaValue = ta.hma(percentileValue, emaLookbackLength)
Visualize trends with color-coded plots and characters for easy interpretation. plotColor = percentileValue > 0 ? colorUp : percentileValue < 0 ? colorDown : na
Set up advanced alerts to stay informed about significant market movements. // Alerts
alertcondition(ta.crossover(emaValue, 0), "Bullish Trend Shift", "Median Proximity Percentile Crossover Zero Line")
alertcondition(ta.crossunder(emaValue, 0), "Bearish Trend Shift", "Median Proximity Percentile Crossunder Zero Line")
alertcondition(ta.crossunder(emaValue,emaValue ) and emaValue > 90, "Bearish Reversal", "Median Proximity Percentile Bearish Reversal")
alertcondition(ta.crossunder(emaValue ,emaValue) and emaValue < -90, "Bullish Reversal", "Median Proximity Percentile Bullish Reversal")
🚨 Remember, the "Median Proximity Percentile " is a tool to aid your analysis. It’s essential to combine it with other analysis techniques and market understanding for best results. Happy trading! 📈📉
Blockunity Drawdown Visualizer (BDV)Monitor the drawdown (value of the drop between the highest and lowest points) of assets and act accordingly to reduce your risk.
Introducing BDV, the incredibly intuitive metric that visualizes asset drawdowns in the most visually appealing manner. With its color gradient display, BDV allows you to instantly grasp the state of retracement from the asset’s highest price level. But that’s not all – you have the option to display the oscillator’s colorization directly on your chart, enhancing your analysis even further.
The Idea
The goal is to provide the community with the best and most complete tool for visualizing the Drawdown of any asset.
How to Use
Very simple to use, the indicator takes the form of an oscillator, with colors ranging from red to green depending on the Drawdown level. A table summarizes several key data points.
Elements
On the oscillator, you'll find a line with a color gradient showing the asset's Drawdown. The flatter line represents the Max Drawdown (the lowest value reached).
In addition, the table summarizes several data:
The asset's All Time High (ATH).
Current Drawdown.
The Max Drawdown that has been reached.
Settings
First of all, you can activate a "Bar Color" in the settings (You must also uncheck "Borders" and "Wick" in your Chart Settings):
You can display Fibonacci levels on the oscillator. You'll see that levels can be relevant to drawdown. The color of the levels is also configurable.
In the calculation parameters, you can first choose between taking the High of the candles or the Close. By default this is Close, but if you change the parameter to High, the indication next to ATH in the table will change, and you'll see that the values in the table will be affected.
The second calculation parameter (Start Date) lets you modify the effective start date of the ATH, which will affect the drawdown level. Here's an example:
How it Works
First, we calculate the ATH:
var bdv_top = bdv_source
bdv_top := na(bdv_top ) ? bdv_source : math.max(bdv_source, bdv_top )
Then the drawdown is calculated as follows:
bdv = ((bdv_source / bdv_top) * 100) - 100
Then the max drawdown :
bdv_max = bdv
bdv_max := na(bdv_max ) ? bdv : math.min(bdv, bdv_max )
Stochastic Levels on Chart [MisterMoTA]The values of the Stochastic Levels on Chart indicator are calculated using Reverse Engineering calculations starting from default Stochastic formula : 100 * (close - lowest(low, length)) / (highest(high, length) - lowest(low, length)).
I added options for users to define the Extreme Overbought and Oversold values, also simple Oversold and Overbought values of the stochastic, default Extreme Overbought at 100, Extreme Oversold at 0, the 20 for Oversold and 80 as Overbought, plus the middle stochastic level = 50.
The script has included a color coded 20 SMA that will turn red when the 20 SMA is falling and green when it is rising, also there are bollinger bands using 2 standard deviation plus an extra top and bottom bollinger bands with a 2.5 standard deviation.
The users can use Stochastic Levels on Chart along with a simple Stochastic or a Stochastic Rsi indicator, when the price on chart touching extreme levels and Stochastic or Stochastic Rsi K line crossing above or bellow D line users can see on chart the levels where price need to close for getting stochastic overbought or oversold.
In the demo chart we can see at daily stochastic crossed down and the price crossed down all the levels displayed on chart, and same before stochastic was crossing up from oversold and price crossed up the stochastic levels displayed on chart.
In strong bullish moves the Extreme level 100 of the stochastic will be pushed higher, same in a strong bearish move the Extreme Oversold 0 level will be pushed lower, so users need to wait for confirmation of a crossover between K and D lines of stochastic that will signalize a pullback or a reverse of the trend.
For better results you will need to add a dmi or an adx or other indicator that will show you trend strength.
If you have any questions or suggestions to improve the script please send me a PM.
RSI Levels On Chart [MisterMoTA]The values of the RSI Levels On Chart are calculated using Reverse Engineering RSI calculations by Giorgos Siligardos, Ph.D.
Instead of using only the 50 line of the RSI on chart I added options for users to define the Extreme Overbought and Oversold values, also simple Oversold and Overbought values, start of Bullish and Bearish zones and the 50 rsi value.
With the RSI Levels On Chart users are able to see on chart the price that a candles need to close for a certain value of the RSI. E.g. what price is needed for the RSI to be at oversold 30 or what would be the price when rsi will cross the 50 line.
The script has the 50 line color coded that will turn red when the line falling and will change to the user input color when it will be rising, helping users to see fast the clear trend of any asset on any timeframe from 1 second to 12 months.
I added few alerts for rsi overbought, oversold, extreme overbought and extreme oversold, crossing 50 level, crossing bullish or bearish zones values and also alerts for the 50 line falling or rising.
You can use RSI Levels On Chart as a simple indicator or you can add your favorite oscilator(s) to have a clear view of the trends of the markets, in this demo I added RSI + Divergences + Alerts with a moving average set to 50 RMA.
