Multi-Timeframe Stoch RSIGood evening folks!
Today I want to share with you a simple variant of the Stochastic-RSI built-in indicator.
Nothing too complex: by enabling the relative checkbox and setting the desired (k, d or the RSI ) source and timeframes, you can see higher timeframes data plotted on your screen.
Everything you need to do is enabling the indicator on the lowest timeframe (in this case 15 minutes), then you will see in YELLOW the information retrieved from the next higher timeframe (in this case 30 minutes) and in RED the information retrieved from the highest timeframe (in this case 45 minutes).
IT'S IMPORTANT THAT YOU DISPLAY THE INDICATOR ON THE LOWEST TIMEFRAME!
You can play with the overbought and oversold heights in order to have the best configuration you want (in oversold conditions is suggested to buy while in overbought conditions is suggested to sell)
The higher timeframes data are retrieved avoiding repainting since the method used for taking them is the 10th method described in this PineCoders Article , so, if you want to enable alerts, you SHOULD ignore the disclaimer message related to it without any problem.
Good Trading!
Overbought-oversold
[JRL] Pivot Regression OscillatorIntroducing the Pivot Regression Oscillator. This oscillator uses a similar formula to the Stochastic Oscillator. However, instead of comparing the closing price to the lowest price of a period, it compares the distance between current price and the current pivot point. By basing our oscillator on pivot levels, we incorporate a much more relevant and consequential price point around which to base our comparisons.
The indicator can give reliable overbought and oversold signals, and it plots two exponential moving averages as output, which provides crossover signals that can be used to help time trades.
The Pivot Regression Oscillator can be effective for timing re-entries into a trend and seems to be able to avoid some of the false signals of other indicators.
Let me know if you find this useful. Cheers!
Non-Rescaled RSI█ OVERVIEW
Relative Strength Index is a momentum oscillator developed by J. Wilder. The original version of RSI rescaled the relative strength measurement to range. While the rescaling is useful for readability, This non-rescaled version tells the exact average relative strength of the movement for the past period, and give another way to put the relative strength reading into context of current market condition.
█ Description & How To Use
1. The (+/-) in relative strength value indicates the direction
Example 1: Relative Strength of 2.33 means average gain is 2.33 bigger than average loss for the past period (Equivalent to RSI 70)
Example 2: Relative Strength of -2.33 means average loss is 2.33 bigger than average gain for the past period (Equivalent to RSI 30)
Example 3: Relative Strength of 0 means average gain is equal to average loss for the past period (Equivalent to RSI 50)
Look at comparison below:
2. You can use it exactly how you would use RSI: Overbought/Oversold state, Divergence, Trend identification, Failure Swings etc..
█ Features
- Overbought/Oversold line still maintainable as standard RSI level (70,30) in user input screen. The script will recalculate and plot the ob/os level accordingly
- Value Label to indicate the RSI and RS value
- Custom Gradient Color Scheme
█ Limitation
The Relative Strength absolute value is capped at 20 to avoid ratio value too big(or too small). This is enough to get accurate equivalent of RSI reading between 5-95
█ Disclaimer
Past performance is not an indicator of future results.
My opinions and research are my own and do not constitute financial advice in any way whatsoever.
Nothing published by me constitutes an investment/trading recommendation, nor should any data or Content published by me be relied upon for any investment/trading activities.
I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Momentum Strategy for cryptos (V7.B.4)Here's a strategy for low time frames (30min suggested) for BTC, based on momentum Analysis using Stochastic RSI
By default the strategy will use the 50% of the specified capital for each trade; if "Gamble Sizing" is enabled, it will add the specified amount of capital (25% by default, until reaching the 100% limit or lower) for the next trade after having detected a loss in the previous trade; if the next trade is successful, the size for the next trade comes back to 50%
• Trend Filter LONG: If the fast exponential moving average is UNDER the slow exponential moving average, it won't open LONG positions
• Trend Filter SHORT: If the fast exponential moving average is ABOVE the slow exponential moving average, it won't open SHORT positions
• Bars delay: the strategy will wait the specified amount of bars before closing the current position; the counter is triggered as soon as the closing trade condition is verified
BY MAKING USE OF THIS STRATEGY, YOU ACKNOWLEDGE AND AGREE THAT: (1) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS OF DIGITAL CURRENCIES AND THEIR DERIVATIVES; (2) YOU SHALL ASSUME ALL RISKS RELATED TO THE USE OF THIS STRATEGY AND TRANSACTIONS OF DIGITAL CURRENCIES AND THEIR DERIVATIVES; AND (3) I SHALL NOT BE LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.
TradeChartist RSI Donchian Channels™TradeChartist RSI Donchian Channels is a helpful RSI based indicator that helps visualize the RSI trend (using 4 plot styles including RSI Candles) by plotting Donchian Channels of user preferred length.
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Features of ™TradeChartist RSI Donchian Channels
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Plots RSI using user preferred plot style (RSI Candles, Line, Histogram and Area).
Plots RSI Donchian Channels of user preferred DC Length (Default - 14, Min - , based on RSI source price (Default - ohlc4), RSI Length (Default - 14) and EMA smoothing of RSI (Default - 5)
Option to highlight Overbought and Oversold zones.
Highlights Bull and Bear RSI Trend of RSI Donchian Channels.
Displays various RSI Zones using Background fill.
Helps visualize Divergences by plotting RSI Highs and Lows.
The indicator's Trend Identifier Connects to ™TradeChartist Plug and Trade or other compatible TV Scripts as Oscillatory Signal to Generate trade entries, Targets etc. This feature is purely for testing purposes and shouldn't be used on its own for trading.
Note: The RSI Donchian Channels trend alone as a standalone indicator cannot be used for trades as non-trending zones and divergence zones will have significant drawdowns on higher time frames. Also, every asset/timeframe shows different but stable dynamic with RSI Donchian Channels in my limited research. Works very well for certain assets on 4hr for Forex pairs. Nevertheless, it is a very good addon to use to confirm RSI Trend especially for RSI based traders.
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Example Charts
1. EUR-USD 4hr chart using RSI Source - hl2, RSI Length - 14, Smoothing - 10 and DC Length - 21 connected to Plug and Trade.
2. BTC-USD Daily chart using RSI Source - close, RSI Length - 14, Smoothing - 5 and DC Length - 21 connected to Plug and Trade.
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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Screener - Mean Reversion Channel█ OVERVIEW
This is Screener script for Mean Reversion Channel Indicator
█ Description & How To Use
The screener works by scanning through up to 40 symbols and list down symbols that are currently within Overbought/Oversold Zone as defined by Mean Reversion Channel indicator.
The Overbought/Oversold Zone are further categorized and sorted by:
Strong : Indicated by "(Strong)" next to the symbol name
Normal : Indicated by the absence of "(Strong)" or "(Weak)" next to the symbol name
Weak : Indicated by "(Weak)" next to the symbol name
Notes: Refer to chart above to see how the Zone are categorized.
Notes: If the screener displays "Nothing Interesting". It simply means none of the screened assets are within the Overbought/Oversold Zone.
█ Features
- Scan up to 40 symbols at a time (By default, no asset is define. Once configured all the symbols you required, remember to save as default to save you from pain of configuring it again in the future)
- Options to scan by zones
- Custom Timeframe
█ Limitation
Due to multiple use of security() function required to call other symbols, expect the screener to be slow at certain times
█ Disclaimer
Past performance is not an indicator of future results.
My opinions and research are my own and do not constitute financial advice in any way whatsoever.
Nothing published by me constitutes an investment recommendation, nor should any data or Content published by me be relied upon for any investment/trading activities.
I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Any ideas to further improve this indicator are welcome :)
Credit: QuantNomad for his script idea on custom screener
G-RSI&EMA channel v.1This my 2nd indicator : It's just a Strenghtening of trend channal
If price can come up on the green line it's mean price is side way or maybe bullish
and if price can come up on RSI (14)50 and EMA50 it have problaby to bullish trend
If the price have blue ball it's mean crazy strong bullish trend
If the price have red ball it's mean crazy strong bearish trend
you can use my 1st script together : 1st is " G-Bollingerbands Volatility breakout "
My 1st script detect the price begin to have volatility
My 2nd scrit detect the trend
Goodluck :D
PS: My 2nd script develop from someone in tradingview RSI script i'm sorry I can't remember but thank you very much.
[blackcat] L2 VWAP CCI Trading SystemLevel: 2
Background
Volume-Weighted Average Price (VWAP) is a trading benchmark used by traders that indicates the average price that a security has traded for throughout the day based on volume and price. This is important as it gives traders insight into the trend and value of a security.
The Commodity Channel Index (CCI) indicator was created to identify bullish and bearish market cycles, as well as to define market turning points and the strongest and weakest market periods. CCI was developed for commodities and quickly found application in other markets, including forex.
Function
blackcat L2 VWAP CCI Trading System is an innovative indicator that combines vwap and cci indicator together. Not only long and short entries can be disclosed, but also the overbought and oversold zones are clearly observed.
Key Signal
cci ---> vwap cci indicator output
long --> long entry condition
short --> short entry condition
backtest --> indicator backtest scheme "NLX-L3 Backtest" required input source for strategy backtest
longentry --> visual long entry
shortentry --> visual short entry
Pros and Cons
Pros:
1. exact long and short entries are produced by overbought and oversold conditions
2. support "NLX-L3 Backtest" framework
Cons:
1. noise may be produced under extreme market condition
2. due to this is un-optimized version, time frame and trading pairs need to be selected
Remarks
Courtesy of @nilux "NLX-L3 Backtest" easy backtest framework for dummies.
Step by step backtest guide with "NLX-L3 Backtest" framework:
STEP1: Add this indicator into your chart
STEP2: Add "NLX-L3 Backtest" into your chart
STEP3: Click "Settings" gear icon of "NLX-L3 Backtest" to select "Select L2 Indicator" in the 1st line as "blackcat L2 VWAP CCI Trading System: backtest"
STEP4: Configure your backtest other settings under "NLX-L3 Backtest" framework
STEP5: Click "OK" and view the results in "Strategy Tester" tab
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Ehlers Adaptive Commodity Channel Index V1 [CC]The Adaptive Commodity Channel Index V1 was created by John Ehlers (Rocket Science For Traders pgs 236-237) and this is the typical Commodity Channel formula with the introduction of adaptive lengths based on his earlier work with indicators such as the Mother of Adaptive Moving Averages. For longer term signals you would get a bullish signal when CCI is above 0 and a bearish signal when CCI falls below 0. For shorter term signals you would get a bullish signal when crosses over it's overbought level or when it crosses above it's oversold level or vice versa. I have included both signals to make it easier.
Let me know if you want a custom script written or if you have a special request for me
dirt cheap yet elegant RSI StrategyFor Educational Purposes. Results can differ on different markets and can fail at any time. Profit is not guaranteed.
This only works in a few markets and in certain situations. Changing the settings can give better or worse results for other markets. This is a good way to show off a good looking strategy, atleast in paper, with minimal effort involved in the making and usage. It can be made with the most minimal lines of code if needed to bring shame unto others. It only works in a few markets and who knows if it will actually rebound from the overbought or oversold levels but in case it doesn't I put in a time-based stop to exit in case of that worst case scenario. There's not much to it, good for trolling others, or serious business, you decide.
RSI TrendsRSI is a momentum indicator, however most people seem to be using it to go against the momentum by trying to identify tops/bottoms using it. Its in my opinion the wrong way to be using it. It can be easily used for trend following which seems like a better use for it.
Uptrend - RSI > 60
Downtrend - RSI < 40
Sideways - RSI between 40 and 60
If however not interested in filtering for sideways trends and convert it to a long-short only strategy that stays in market all the time then it can be simply modified by setting both overbought/oversold thresholds to 50. In such a case uptrend will be above 50 and downtrend will be less than 50.
Note: wait for close for current bar to be confirmed as RSI is calculated at close
SSHSH_ScalpWhen the trend is already determined You have to use some filter to define trade entries.
With the UpTrend it's better to start buying when this market-pulse indicator is at it's bottom, and vice versa for the DownTrend.
It's better to do that with the overbought / oversold areas:
- simply buy when the area is below the lower band;
- and sell when the area is above the upper band.
Use it with the faster tuning when You trade the higher timeframes, and with the slower tuning on a lower timeframes.
{PM me in TradingView to arrange subscription access}
SSHSH_DevVolatility is a market pulse, like breathing. And it's deviations is being considered as a signal attenuation.
When You want to know how far is the current price of it's mean value, You can use this indicator to determine 3-sigma rule.
The mean line (like moving average) shows if the market is in it's UpTrend state or the DownTrend state.
When it hits it's upper level - so we can say that the Uptrend has ended. The vice versa for the DownTrend.
Use it with the faster tuning when You trade the higher timeframes, and with the slower tuning on a lower timeframes.
{PM me in TradingView to arrange subscription access}
SSHSHThis indicator is designed to determine overbought / oversold areas, taking into account the general direction of the trend.
It's being considered as an UpTrend while the area is above it's middle value, and also it's being a signal attenuation when the area is above the upper band.
Vice versa it's being considered as a DownTrend while the area is below it's middle value, and also it's being a signal attenuation when the area is below the lower band.
Each market (stocks, futures, currencies etc.) has it's own individual parameters, properties and characteristics: so it's better to use tuning depending on the timeframe You choose (the bigger the timeframe is - the lower/faster tuning has to be chosen, and vice versa).
{PM me in TradingView to arrange subscription access}
MTF Stoch RSI ScreenerDisplays when multiple timeframes of Stochastic RSI are overbought/oversold. Multiple consecutive timeframes being overbought/oversold can signify a short term top or bottom.
Thanks to Micse in Pinescripters telegram who helped remove a few errors from this.
Momentum Drift Oscillator™TradeChartist Momentum Drift Oscillator is a elegantly designed Oscillator that uses both trend following and mean reversion models, that helps visualize the price momentum, based on user defined lookback period and standard deviation.
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Momentum Drift Oscillator ( MDO ) Features:
MDO shows how far away the price is, from the mean, based on Lookback Length (21, 34, 55, 89, 144, 233) and Standard Deviation input (Min - 0.236, Max - 2.0) , and helps understand potential price reversal points based on mean reversion principles.
Drift Visualizer helps visualise the velocity with which Price moves and helps the trader spot various momentum drift zones like Fuel zones, Overbought/Oversold areas and Bull/Bear Exhaustion limits. Drift Visualizer above 150 is usually Overbought and value above 200 is Super Overbought. Similarly, value below -150 is usually Oversold and value below -200 is Super Oversold.
Option to enable and disable coloured bars based on Momentum Drift. (Colour intensity on Price bars helps visualise the price momentum - 2 Colour Schemes available from the settings - Chilli and Flame).
Long and Short Trade Alerts can be created using Once Per Bar Close .
The indicator does not repaint. Alerts may display potential repaint warning, but this is because the code uses bar index for Drift Visualizer labels. For confidence in the indicator, it can be tested using bar replay to make sure the real-time and bar replay trade entries and plots stay on the same bar/timestamp.
MDO can be connected to ™TradeChartist Plug and Trade to generate Trade Entries, Targets, Sop Loss plots etc and to create all types of alerts.
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Why is Momentum Drift Oscillator ( MDO ) different from traditional Momentum based indicators?
This Momentum Drift model truly combines mean reversion and trend following principles, but with a unique original idea.
It needs 2 user defined inputs - Lookback length and Standard Deviation. If for example, say the trend is Bullish and MDO is above 0, the Oscillator doesn't go below 0, even if there is extreme bull exhaustion, if the trend based on lookback and standard deviation is not favorable to reverse trades.
Only Fibonacci lookback periods (21, 34, 55, 89, 144, 233) are used as they have been found more effective than other periods. The default Lookback period is 55 and Standard Deviation is 1, but this can be changed from the settings. Lower values of Lookback period go well with higher Standard Deviation and higher values of Lookback period go well with lower Standard Deviation (0.5, 0.618, 0.786, 0.886, 1 etc.), based on trading style and personal risk strategy.
The indicator includes a Drift Visualizer that helps spot important trade zones based on Price Velocity, calculated dynamically for every bar based on user defined parameters. The first move above or below 0 always opens at Bull Fuel or Bear Fuel zone and the exhaustion zones are reached only at the time of price returning to the mean. But it doesn't change direction if the trend is still up, so the trader can make an informed decision as to when to reverse trades, based on another confirmator.
Similarly, when the Visualizer reaches Fuel or Support/Resistance zones, it normally needs a bit of a push to reach the Overbought - Super Overbought/Oversold - Super Oversold levels where the price normally starts reversing back to the mean and this whole process can be visualized through Visualizer labels on MDO. This process eliminates a lot of noise that normally comes with traditional Momentum indicators.
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Example Charts:
1. XAU-USD 1hr chart - Lookback - 55, Std Dev - 2
2. ADA-USDT 4hr chart - Lookback - 89, Std Dev - 1
3. WTI - USOIL Daily chart - Lookback - 34, Std Dev - 1.618
4. SPX Daily chart - Lookback - 144, Std Dev - 0.236
5. GBP-USD 15m chart - Lookback - 144, Std Dev - 0.618
6. BTC-USD 1hr connected to Plug and Trade - Lookback - 55, Std Dev - 1
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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CryptoSignalScanner - OverBought/OverSold Zone IndicatorDESCRIPTION:
This indicator has been designed to do some swing trading on 4 hour and daily candles.
It also gives good results on the lower timeframes 5m, 15m and 1h but trading on those levels is time consuming and stressful.
• This indicator is based on RSI, Stochastic RSI and some other indicator(s).
• This indicator is based on our "CryptoSignalScanner - Advanced BUY/SELL Indicator" but with a small difference in calculation to define the OverBought and OverSold zones.
• It displays the OverBought and OverSold zones.
• It is also possibility to set an OverBought/OverSold, OverBought and OverSold alert.
HOW TO USE:
• When the OverBought zone is displayed it means that the trading pair is OverBought. Wait for the reversal to SELL. Use the Fibonacci tool together with the Eliot Waves Theory to SELL.
• When the OverSold zone is displayed it means that the trading pair is OverSold. Wait for the reversal to BUY. Use the Fibonacci tool together with the Eliot Waves Theory to BUY.
FEATURES:
• You can adjust the OverBought and OverSold zones.
• You can display/hide the RSI.
• You can adjust RSI values.
• You can display/hide the Stochastic RSI.
• You can adjust Stochastic RSI values.
• You can display/hide the ...
• You can adjust the ...
• You can set OverBought/OverSold alert.
• You can set OverBought alert.
• You can set OverSold alert.
• Etc...
REMARKS:
• This advice is NOT financial advice.
• We do not provide personal investment advice and we are not a qualified licensed investment advisor.
• All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice.
• We will not and cannot be held liable for any actions you take as a result of anything you read here.
• We only provide this information to help you make a better decision.
• While the information provided is believed to be accurate, it may include errors or inaccuracies.
HOW TO GET ACCESS TO THE SCRIPT:
• Use the link below to subscribe to our indicators.
Good Luck,
SEOCO
ATR Auto Oscillator [DepthHouse]The ATR Auto Oscillator uses advanced range calculations to determine a dynamic range that the applied market moves within. Like an RSI , the ATR Auto Oscillator measures the speed and change of price movements through a given range. Unlike an RSI , the ATR Auto Oscillator automatically re-configures range values dependent on the user set lookback.
The oscillator ranges between (0.1) and 1.1. Generally, the market is oversold while the bands are below 0.2 and is overbought while above 0.8.
The two bands displayed are used to determine short term trend directions and the oversold/undersold state of the applied market. Crossovers of these bands could give a hint to the direction the market is moving.
The fast band (green) is the direct value of where the market is within its calculated range; 1.1 representing the top of range, and -0.1 representing the bottom. Even when this value is near the bottom of the top of the range, the auto oscillator will readjust to create a new range that the market travels within.
The slow band (red) is a lagging version of the fast band which is used to determine the oversold/overbought signals. When this band travels within the oversold and overbought regions the background color will change to signal a warning. If the fast band crosses the slow band within these zones, an opaque signal will appear. These signals are used to catch possible trend reversals.
Breakout Signals ( BETA ):
Breakout signals are the up and down arrows displayed on the top and bottom of the oscillator. A refined range is generated by the user set 'High Low Length'; it is then displayed by the light gray horizontal lines. If the user set band (fast or slow) returns into the range within a given period (breakout offset) then a signal will generate.
Built in Alerts (must be set up by user):
Bullish & Bearish Crossovers within the oversold and overbought ranges.
Bullish & Bearish Breakout alerts (beta)
Users can also set custom alerts. Example: Fast Band crossing up Value: 0.7
To gain access to this indicator please follow the link below.
Feel free to message me with any questions directly here on TradingView.
Percentage Price Over SMAReturn the percentage of closing prices greater than SMA's with periods within a user-selected range. An exponential moving average applied to these results is also displayed (in orange).
Settings
Min : Minimum period of the SMA in the range
Max : Maximum period of the SMA in the range
Smooth : Period of the EMA
Src : Input series of the indicator
Usage
The indicator is a normalized oscillator. A value of 100 indicates that 100% of the current closing price is over SMA's with periods ranging from min to max , this indicates a bullish market, while a value of 0 would indicate a bearish market.
In this image the indicator use min = 50 and max = 200, here AMD has been strongly bullish at the start, and ended being strongly bearish at the end, during this bullish period the indicator is over its overbought level, while it is under its oversold level during the bearish period.
In case the market is ranging we can expect the indicator to be around 50%, using the smoothed result might be more useful to detect ranging markets with this indicator.
If the smoothed result is within the overbought/oversold levels, then we can say that the market is either ranging or transitioning from a bullish/bearish market to an opposite one.
Hybrid Overbought/Oversold Detector + Put/Call SignalsThere are many indicators of overbought/oversold conditions out there. Some of more common ones are:
- Bollinger Bands %B
- Money Flow Index (MFI)
- Relative Strength Index (RSI)
- Stochastic
This script uses a combination of these 4 oscillators to confirm overbought/oversold and filter the signals of market reverse which could be used for trading binary options.
You may select which oscillators you want to apply and of course change the source, the length of the calculations and the overbought/oversold levels.
Also the script will draw a combined graph which is the average of the selected oscillators in the options.
Send me your ideas!
Momentum Oscillator [Dynamic & Flow] (Expo)Momentum Oscillator -Dynamic & Flow (Expo) is a fast-moving, sensitive oscillator that makes use of momentum in various ways. The indicator has two additional layers (Buy & Sell moves) and (Extremes) which makes it reacts quickly to price changes.
The indicator displays overbought and oversold areas as well as extreme areas and how aggressive buyers and sellers are. It does also displays potential reversal points or potential pullbacks.
The following momentum modes are displayed:
1. Where momentum begins
2. Where momentum is strong
3. Where momentum begins to stall
Where momentum begins to stall is displayed as a red and green color on the momentum line .
Where momentum begins (light green and light red color) and where it's strong (dark green and dark red color) is displayed as upper and lower lines. The darker these lines are the stronger is the momentum.
Potential reversal or pullback is displayed as a blue color on the signal line.
♢ The indicator has inbuilt suggested buy & sell- and stop-loss signals. These signals have flexible settings, so a fast, slow, and sensitive mode can be enabled.
DIVERGENCES
All types of momentum oscillators produce divergences and so does Momentum Oscillator Dynamic & Flow (Expo) . Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
HOW TO USE
1. Use the indicator to identify overbought/oversold areas, as well as extreme modes.
2. Use the indicator to display momentum in various ways.
3. Use the indicator to confirm the existence, or a continuation, of a trend.
4. Use the indicator to identify potential reversal points or potential pullbacks.
INDICATOR IN ACTION
4-hour chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
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Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
Fisher Transform on OBVApplies Ehlers Fisher Transform on to OBV, with EMA as trigger line.
Useful for identifying overbought and oversold conditions.
Buy Sell BandsBuy Sell Bands is a super simple indicator based on the mean reversion (range trading) strategy that shows you exactly where to buy, sell and close trades on every chart, market and timeframe.
It's best used together with our Range Strength indicator to identify when the market is in a range mode, this is the best time to take the entry signals from the Buy Sell Bands.
How Is It Different From Other Indicators?
- Designed specifically for the mean reversion (range trading) strategy
- Upper and lower bands are based on current and past volatility
- Aren't as sensitive to "squeezes" after periods of contracted volatility
- Works well in conjunction with the Range Strength Indicator to confirm entry signals
- Helps identify good "pair trading" opportunities
- Can be applied to all markets and timeframes
How To Use The Indicator?
1) Visit our website URL shown below this description and signup
2) We will then grant your TradingView username permission to use our indicators
3) Go to your Indicators window, then the Invite-Only section and add our indicators to your chart
4) Our indicators will then show on every chart you now look at
5) You can set up alerts to be notified in real time of trading signals from our indicators
6) Read our user manual for all the best tips on how to use our indicators as part of a range trading strategy
7) Feel free to reach out to us for personal one-on-one help with getting setup
What Markets and Conditions Does It Work Best On?
All markets cycle between trending and ranging modes, and the key to successfully using these indicators is identifying when the market is in or about to go into a range trading mode, and as such it can be applied to all markets and timeframes.
Some markets and timeframes trade within ranges more predictably than others, for example Forex, Cryptocurrencies, and Futures on the 15 minute timeframe during the US night session can work well due to the lack of price sensitive news creating lasting trends. With Stocks & ETFs on the 5 minute timeframe during the midday session on large cap blue chip stocks with no recent news releases can show strong range trading environments to use our indicators in.
In addition to single markets, you can also use our indicators on pair charts, for example Coca Cola(KO) versus Pepsi(PEP), you can do this by entering KO/PEP inside your TradingView chart quote box and it will bring up a pair chart. Our indicators will show buy and sell signals right on the pair chart just like any other single instrument chart. You can get very creative with what type of pairs you can come up with.
Our indicators are primarily designed for day trading and swing trading, however they can also be used for position trading and investing by identifying technically oversold and overbought range levels that are based on current and past volatility around a dynamic average price, for this we recommend using a weekly chart to identify longer trading opportunities.
As always indicators should be used as part of a trading strategy to assist in making decisions, instead of just blindly following every signal they produce you should always seek to compliment technical trading signals with additional analysis to reduce your risk and increase your odds of making a winning trade.
Examples Of Use On Various Markets and Timeframes
GBP vs CHF Forex Pair 15 Minute Chart
Tesla Stock 1 Minute Chart
Bitcoin vs USD Crypto Pair 15 Minute Chart
Micro E-Mini SP500 Futures 1 Minute Chart
Mastercard vs Visa Stock Daily Pair Chart
To gain access to the Buy Sell Bands and Range Strength Indicators visit our website shown below.
Happy Range Trading :)
