Range Analysis - By LeviathanThe Interactive Range Analysis script is an essential tool for analyzing price ranges. It automatically draws important range levels, generates a Volume Profile or Open Interest profile and horizontal/vertical heatmaps, plots the anchored VWAP, draws Fibonacci levels, and much more.
How to use the indicator:
1. The script will prompt you to select the "Start Time" and "End Time" using Tradingview's interactive interface. These two points will determine the length of the range.
2. Once you have selected the range, the script will automatically anchor the range highs and lows to the highest and lowest close/wick/hlc3/ohlc4 (whichever you prefer).
3. You can then begin exploring different tools and options such as Quarters, Eighths, Fibonacci, Outer Levels, VWAP, Horizontal Volume/OI Heatmap, Vertical Volume/OI Heatmap, Fixed Range Volume Profile, Open Interest Profile, Value Area, VAH, VAL, and POC.
4. You can adjust the range by dragging the Start Time and End Time anchors or by removing/reapplying the script.
Tool overview
Range Levels
After selecting your preferred time range, the script will identify and draw a range high level and a range low level, which serve as a base for other important levels. “Half” is the level halfway between the range high and range low. “Quarters” will, as the name suggests, split the range into four equal zones (quarters) and “Eighths” will split the range into eight equal zones (eighths).
”Fibonacci” option allows you to display Fibonacci retracement levels (0.786, 0.618, 0.382, 0.236). “VWAP” will plot a Volume Weighted Average Price, anchored to the start of the range. “Direction” input lets you choose whether your range is UP or DOWN trending in order to make sure that the Fibonacci levels and labels are generated and assigned correctly. With “Outer” turned ON, the script will also generate active levels (quarters/eighths/Fibonacci) above and below the selected price range. “Extend Right” will extend all levels to the right indefinitely, while “Extend (+Bars)” lets you choose how far right the levels get extended. “Diagonal Line” is drawn from the bottom left of the range to the top right of the range or from the top left of the range to the bottom right of the range, depending on the “Direction” input.
Volume Profile / Open Interest Profile
After selecting the “Data Type”, Volume Profile or OI Profile can be generated by turning ON the “Volume/OI Profile” option.
“Resolution” input defines the amount of nodes/rows in the range that are used in profile/heatmap generation for distributing the data. While you can increase the “Resolution” to get better, more granular profiles, you should keep in mind that you might need to lower the resolution when generating profiles for larger ranges.
”Node Type” offers you two options when it comes to the representation of data: Up/Down - divides a node in two sections for up volume/OI and down volume/OI, Total - one node for total volume/OI and Delta - net difference in up volume/OI and down volume/OI.
”Profile Position” lets you choose whether the profile is positioned on the left side of the range or on the right side of the range.
“Profile Direction” determines whether the profile nodes are facing right or left.
“Profile Type” enables you to visualize the nodes in a classic way (Type 1) or in a way where down volume/negative OI are positioned on the left side of the y axis and up volume/positive OI on the right side of the y axis.
“Node Size (%)” defines how much space in the range can be taken by the profile’s nodes. Eg. 50% will allow the largest node to extend to the middle of the range (and others scaled accordingly), 100% will allow the largest node to extend the max right point of the range (and others scaled accordingly).
”Value Area (%)” defines the VA zone, which represents the area where the most volume occured (usually 70% or 68%).
”Horizontal Heatmap” will display a heatmap-like overlay, that will help you identify the price levels where most volume/open interest action occurred.
”Vertical Heatmap” will display a heatmap-like overlay, that will help you identify the points in time where most volume/open interest action occurred.
A more detailed description of this indicator is coming in the next few days.
Important:
* If volume or OI profile does not get generated, try lowering the resolution.
* Once in a while, the script will disappear from your chart. Just remove and reapply.
* Open Interest data is only avaiable on Binance Perpetual Futures pairs
To learn more, read the tooltips in the indicator’s settings and stay tuned for upcoming additions (Range Market Structure, Liquidation Levels, Range Statistics,…)
Range
Price Range Tracker D/W/M + ATHIntroducing the Price Range Tracker - it's a tool for monitoring the price of any coin or stock. This indicator provides up-to-date information on the daily, weekly, monthly, and all-time high (ATH) prices of your selected asset.
With the Price Range Tracker, you can easily gauge how far your asset's current price is from its highest point in the daily, weekly, or monthly range. Additionally, it keeps track of the ATH of any coin, providing you with a clear understanding of your asset's historical performance.
This tracker also plots the ATH on the main chart as a label, ensuring that you are always aware of the highest point your asset has reached.
While this tool is a valuable asset for analyzing price trends, it is important to note that past performance may not always indicate future results. Market conditions can change rapidly, and strategies that have been successful in the past may not perform as well in the future. As such, it is essential to use the Price Range Tracker in conjunction with your own research and knowledge.
Please let me know if you find any bugs or would like things adding to the tracker
Finally, please note that this post and the accompanying script do not provide any financial advice. The information provided is for educational purposes only, and you should always consult a financial advisor before making any investment decisions.
range_statA basic statistic to describe "ranges". There are three inputs:
- short range
- long range
- moving average length
The output is a ratio of the short range to the long range. In the screenshot example, the short range is a single day (bar) and the long range is five days. A value near "1" would mean that every day entirely fills the five day range, and that a consolidation is likely present. A value near 0 would mean that each day fills only a small portion of the five day range, and price is probably "trending".
The moving average length is for smoothing the result (which also lags it of course).
The mean, and +- 2 standard deviations are plotted as fuchsia colored lines.
Range ( Adjustable ) HLLSfor range of the price ( Adjustable )
This indicator shows you in what price range it may move.
This indicator is adjustable. You must set your installation to the past of its chart. (depends on timeframe)
Pay attention to adapt it in different time frames and with your strategy.
The function of this indicator is simple.
Based on the first factor (the number of previous candles), you can adjust average range channel with the second factor for height of the channel.
Range DetectionThis is a simple indicator to find the sideways market or ranging market.
It is mainly focused on BTCUSD as BTCUSD doesn’t make big moves each and every candle. It makes big breakouts with one candle and then goes sideways for a longer period of time.
So, this indicator identifies those big candles and plots high and lows of those big candles using lines. New range is created only when new candles close above or below previous major candles high or low.
Range Identifier*Re-upload as previous attempt was removed.
An attempt to create a half decent identifier of when the markets are ranging and in a state of choppiness and mean reversion - as opposed to in trending trade conditions.
It's super simple logic just working on some basic price action and market structure operating on higher time frames.
It uses the Donchian Channels but with hlc3 data as opposed to high/lows - and identifies periods in which the baseline is static, or when the channel upper & lower are contracting.
This combination identifies non trending price action with decreasing volatility, which tends to indicate a lot of upcoming chop and ranging/sideways action; especially when intraday trading and applied on the daily timeframe.
The filter increasing results in a decrease of areas identified as choppy by extending the required period of a sideways static basis, I've found values of 2 or 3 to be a nice sweetspot!
Overall should be pretty intuitive to use, when the background changes just consider altering your trading and investing approach. This was created as I've not really seen anything on here that functions quite the same.
I decided to not include the Donchian upper/lower/basis as I found that can often lead to decision bias and being influenced by where these lines are situated causing you to guess on future direction.
It's obviously never going to be perfect, but a nice and unbiased way to quickly check where we may be in a cycle; let me know if there are any issues/questions and please enjoy!
Body / Range %Body / Range is a volatility indicator that shows how many percentages the body candle occupies the range.
The ratio tells us about the health and confidence of the current candlestick.
Since overall candle Range is always bigger than the body range, Body/Range indicator will always fluctuate inside a range of 0 and 100%.
I didn't use True Range because it considers gaps and the ratio won't be considering individual candles. Therefore, I used high - low and identified it as Range.
In this function, the wicks play obviously role in determining the ratio too without its variable separately in the formula. I wouldn't use wicks here because Range = body + total wicks anyway. It already covers the variable. If I made the ratio with Body / Total Wicks, we wouldn't have stable 0 - 100% range of the indicator by the way. So it's fully justified dividing Body by Range to get some summarized Candle Metrics.
Logically we assume that if wicks are relatively bigger than body then the ratio will be relatively smaller and vice versa.
Change TF of the indicator is possible. For example, 3 months per bar would look like this:
Average HL Range - SATThis indicator dynamically display consolidation range base on three series ( high, low and close). it also display range breakout when a close occurs outside of the range. HeikinAshi and Diffrent Timeframe data can be requested to reduce the noise from the market. All setting are configurable : entryprice, takeprofits, Risk: REward, Dark Mode
Balance of Force (BOF)The script "Balance of Force" is an indicator that aims to provide insight into the bullish and bearish forces present in the market by analyzing the relationship between bullish and bearish true ranges. The indicator first calculates the bearish and bullish true ranges by taking the absolute difference between the open and close prices for each period and summing these values over a user-specified length. It then calculates the ratio of the bullish true range to the bearish true range and takes the natural logarithm of this value, resulting in the "bullish-bearish ratio".
The script then calculates the standard deviation of this ratio over a user-specified length to create a measure of volatility. Using this deviation and the dominant cycle, it then applies an exponential moving average to smooth the ratio. The indicator plots the smoothed ratio, the raw ratio, and the deviation of the ratio multiplied by 1, 2 and 3 in addition to filling the area between the deviation multiplied by 3 and the log(1) with red and green. The user can use the indicator to identify potential bullish or bearish market conditions by analyzing the relationship between the smoothed ratio and the log(1) and the deviation of the ratio.
Chart Time and Price Range It is easy to loose track of time and price volatility when the chart automatically scales to the bars on the chart. This helps you keep track.
This is a very simple indicator that is designed to ensure that you're looking at a segment of the chart that is relevant to the trade you're considering in both price distance and time.
The Problem:
When looking at a chart the lowest price is at the bottom of the screen, the highest price is at the top. The time at the beginning of the chart is based on how many bars and what timeframe you're looking at.
But is the price difference between the two wide or narrow? Are you seeing minutes, hours, or days of price action?
You can get the measure tool out, but you'll change the zoom level and now its different. You change the timeframe and its different.
This Solution:
This indicator puts a table on the screen that will tell you the X/Y distance of everything that is on your chart. If your hold period is 5 minutes, why would you be looking at 3 days of price action to find s/r or make a decision on a trade?
This will show you how much price opportunity was available in the amount of time you are currently viewing. Using the PineCoders VisibleChart library, we're retrieving the time and bar_index of the beginning of the chart so that everything that is currently on the chart is measured and it adapts as that changes.
It will work with light and dark themes (you can change the colors) and can be positioned wherever you prefer to see the information.
Disclaimer: This was a quick release script. I wrote it and published the same day. There could be bugs, so send me a message or add a comment to report anything that isn't behaving correctly.
Cuban's Range PositioningCuban's Range Positioning is the primary backbone of Cuban's Asset Screener and a fantastic standalone market screening tool.
Range Positioning allows the trader to monitor the positioning of over 200+ Binance and Bybit Futures assets within a single window, with a standard measurement of performance, and also with custom watchlist support.
The range calculation itself uses the unique logic of Cuban's Donchian Suite, retaining highs and lows until the opposite side of the range is tagged.
When viewed historically, the Range Positioning screener allows traders to monitor any assets that are continually pushing range highs and lows, identify outliers, and track trending sectors relative to the rest of the market. This script makes this identification easier for the user by making assets that aren't approaching highs or lows, transparent.
Included within this indicator is the option to redenominate the quote asset of all assets on screen using the current chart ticker.
Within the user inputs, the user gains the ability to customize the following:
Range lookback
Asset redenomination
Location of the asset table
Percentage of assets highlighted or made transparent
Dynamic labelling offset
Over 200+ Binance and Bybit Futures assets
TO DO:
Customize number of assets on screen
Allow values beyond the initial range
Cuban's Asset ScreenerCuban's Asset Screener is a tool designed to view the health of the entire market in a single charting window, using a multi-timeframe, real-time heatmapped asset screener built natively within Tradingview.
You can use this tool to aggregate and display critical information required to identify your favorite trade ideas using other Cuban's Edge tools. Although the screener currently uses pre-built lists for over 200+ Binance and Bybit Futures pairs, the tool comes with custom watchlist support, allowing you to add as many additional assets as your screen and browser will support.
Currently tracking range positions and a custom cross asset delta function from Cuban's Pair Trading Index, the screener has an in-built sorting function which orders assets by similar market structure and colors them relative to their performance against the user's comparison asset -- their current chart ticker.
Cuban's Asset Screener is also valuable as a tool to monitor performance of your portfolio against any benchmark asset, by using the 'Asset Redenomination' option within the settings. This allows the user to redenominate the entire screener easily using their current chart ticker.
In order to setup the Asset Screener, the user will need to select an 'Asset List' and a 'Screen Location' value. This will load the screener into a set position on screen, from right to left. In order to add additional assets, multiple instances of the asset screener will need to be loaded on screen.
With this indicator, users get the option to adjust the following:
range positioning lookback
asset redenomination for range positioning
asset sorting order
screen location
multi-timeframe support
live pricing for PTI values
in-built asset lists for 200+ assets
TO DO:
add market filters to the coloring
add tradfi asset lists
Nick_OS RangesUNDERSTANDING THE SCRIPT:
TIMEFRAME RESOLUTION:
* You have the option to choose Daily , Weekly , or Monthly
LOOKBACK WINDOW:
* This number represents how far back you want the data to pull from
- Example: "250" would represent the past 250 Days, Weeks, or Months depending on what is selected in the Timeframe Resolution
RANGE 1 nth (Gray lines):
* This number represents the range of the nth biggest day, week, or month in the Lookback Window
- Example: "30" would represent the range of the 30th biggest day in the past 250 days. (If the Lookback Window is "250")
RANGE 2 nth (Blue lines):
* This number represents the range of the nth biggest day, week, or month in the Lookback Window
- Example: "10" would represent the range of the 10th biggest day in the past 250 days. (If the Lookback Window is "250")
RANGE 3 nth (Pink lines):
* This number represents the range of the nth biggest day, week, or month in the Lookback Window
- Example: "3" would represent the range of the 3rd biggest day in the past 250 days. (If the Lookback Window is "250")
YELLOW LINES:
* The yellow lines are the average percentage move of the inputted number in the Lookback Window
SUGGESTED INPUTS:
FOR DAILY:
Lookback Window: 250
Range 1 nth: 30
Range 2 nth: 10
Range 3 nth: 3
FOR WEEKLY:
Lookback Window: 50
Range 1 nth: 10
Range 2 nth: 5
Range 3 nth: 2
FOR MONTHLY:
Lookback Window: 12
Range 1 nth: 3
Range 2 nth: 2
Range 3 nth: 1
TIMEFRAMES TO USE (If You Have TradingView Premium):
Daily: 5 minute timeframe and higher (15 minute timeframe and higher for Futures)
Weekly: 15 minute timeframe and higher
Monthly: Daily timeframe and higher (Monthly still has issues)
TIMEFRAMES TO USE (If You DO NOT Have TradingView Premium):
Daily: 15 minute timeframe and higher
Weekly: 30 minute timeframe and higher
Monthly: Daily timeframe and higher (Monthly still has issues)
IMPORTANT RELATED NOTE:
If you decide to use a higher Lookback Window, the ranges might be off and the timeframes listed above might not apply
ISSUES THAT MIGHT BE RESOLVED IN THE FUTURE
1. If it is a shortened week (No Monday or Friday), then the Weekly Ranges will show the same ranges as last week
2. Monthly ranges will change based on any timeframe used
Asteroid Belt ScreenerAsteroid Belt Screener Observe the market in relation to the dynamic trend strength Asteroids Belt indicator, reference for trend trading opportunities.
SCAN MULTI ASSETS WITH ALL 3 RESPONSIVE TIMES ALL AT ONCE
The New Compliment Indicator to the much loved Asteroids Belt, providing a unique way to scan the market, never miss an opportunity with multi Asset Alerts and customizable display.
With additional Pre configured Aggregators, users of asteroids belt will be pleased to know that the indicator does come with 50 automated aggregation settings,
Using the custom position coordinates X,Y users can load multiple instances of the screener, choose individual assets, place them on their chart as they wish and scan for 5 assets PER screener.
Users can also choose to use assets outside of the list of 50, and control the aggregators manually, this allows for complete customization with no limit to symbols.
Users are also given the chance to set alerts for the following:
Alerts
Bullish Trend: Fast,Normal Slow (belt trend color change)
Bearish Trend: Fast,Normal Slow (belt trend color change)
Entering Belt: Fast Normal Slow (belt level detections)
Leaving Belt: Fast,Normal Slow (belt level detections)
TO DO:
Additional alerts e.g. fast trend green with red slow belt. Allowing for filtered opportunities.
Increase pre made aggregator asset lists, and improve.
ATR Oscillator - Index (Average True range Oscillator)The purpose of converting the ATR value indicator to an oscillator;
It is known that the ATR value is not between the two specified values. So it is not compressed between 0 and 100 like RSI and %B etc. Therefore, conditions such as "A condition if ATR value is X, B condition if ATR value is Y" cannot be created. In order to create these conditions, the max and min value range of the ATR value must be determined. This indicator converts the ATR values into a percentage number according to the maximum and minimum ATR values in the period you will choose. Max value is 100, min value is 0. The considered ATR value, on the other hand, corresponds to the % of the difference between the max and min value in the selected period.
In this way, conditions such as "If the ATR Oscillator value is greater than 10 or 20 or 30" can now be created, or the value of another indicator can be calculated based on the ATR Oscillator value. For example; Let's say we want the standard deviation of BBand to change according to the value of the ATR Oscillator. If BBand Standard Deviation is 3 if ATRO value is 100, BBand Standard Deviation is 2 if ATRO value is 0, and BBand Standard Deviation is 2.5 when ATRO value is 50;
We can encode it as BBand_Std_Dev=((ATRO*0.01)+2 )
If the ATRO value is between .... and ...., you can make improvements such as plot color X.
Range Band (Expo)█ Overview
Range Band (Expo) measures an asset's volatility and price movements to plot the most relevant price range. Identifying ranges in trading is extremely important for traders to assess the current market and make informed decisions about when to enter and exit positions.
By identifying ranges, traders can identify support and resistance levels , and use these levels to determine when to enter and exit a trade. Ranges also help traders to identify potential entry and exit points and set stop-loss and take-profit levels. Additionally, ranges can help traders to identify potential trends and reversals .
█ How to use
Identify potential trading opportunities
For example, if the price is bouncing between the upper and lower range bands, it may indicate that traders could potentially profit from short-term contrarian trades. Similarly, if the price is trading near the upper or lower range band, it may indicate that traders could potentially profit from long-term trend trades.
Price Ranges and SR Levels
Range bands help traders identify price ranges that are likely to be profitable. It is a graphical representation of price movement and is typically used to identify support and resistance levels. Range bands are also used to identify potential entry and exit points.
Trends
Range bands are used in to identify trends.
Reversals
Range bands are used in technical analysis to identify potential reversal points.
Overbought and Oversold
When the price reaches the upper range band, it may indicate that the asset is overbought and that the price is likely to fall. When the price reaches the lower range band, it may indicate that the asset is oversold and that the price is likely to rise.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems 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, backtest, 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/Algos/Systems are only for educational purposes!
Range Filter Buy and Sell 5min - guikroth versionRange Filter Buy and Sell 5min - the @guikroth version, republished.
Since this popular version of the Range Filter is no longer available via the original author, I republish it here under the same name.
This version remains true to the guikroth version from the calculations to the default settings and comments in the code, with the exception of an update to the latest version of PineScript, minor styling adjustments and the addition of an all-in-one 'buy or sell' alert option.
The guikroth version was a simplified modification of the original Range Filter by @DonovanWall .
Including having just 3 bar colours based on the filtered price trend, different source input options to the original, and the addition of buy and sell signals and alerts based upon the Range Filter colour change. It consisted of just three inputs; source, sampling period, and range multipler. With the update to version 5, external indicators can also be used as inputs, for example using a VWAP or EMA loaded on your chart as the input on the Range Filter is now also possible.
What is the Range Filter?
As the author of the original Range Filter describes it:
"This is an experimental study designed to filter out minor price action for a clearer view of trends. Inspired by the QQE's volatility filter, this filter applies the process directly to price rather than to a smoothed RSI .
First, a smooth average price range is calculated for the basis of the filter and multiplied by a specified amount.
Next, the filter is calculated by gating price movements that do not exceed the specified range.
Lastly the target ranges are plotted to display the prices that will trigger filter movement.
Custom bar colors are included. The color scheme is based on the filtered price trend."
Popularity of the Range Filter
The Range Filter is a very popular and effective indicator in its own right, with adjustments to the few simple settings it is possible to use the Range Filter for helping filter price movement, whether helping to determine trend direction or ranges, to timing breakout or even reversal entries. Its practical versatility makes it ideal for integrating it's signals into a variety of trading strategies or even other indicators.
With many thanks to the authors of the previous and original versions; @guikroth and @DonovanWall .
Trend Finder with Coefficient of VariationCoefficient of variation (“COV”) is a statistical measure used to describe the variability of values within a data set, it’s calculated by taking the standard deviation divided by the mean.
Traditionally, COV is applied to the expected returns of competing investment portfolios. A risk adverse investor prefers to accept a portfolio with a relatively lower COV value.
On the other hand, when applying COV to price charts, the difference is that instead of looking at expected returns, we now treat price as the source of data. We look at price from a moving average perspective. This script purely focuses on price.
What this indicator does:
Firstly, to go over the parameters:
Let ‘n’ be the lookback period for computing COV, and ‘m’ be the period for comparing the ranking of COVs.
Logics in a nutshell:
This program will (A) calculate the COV by dividing the moving standard deviation by moving average over ‘n’ bars, and then (B) illustrate the relationship of how COV at each bar ranks compared to COVs over past ‘m’ bars. We use a color scale (default black and yellow) for visualizing ranking in terms of percentiles. If COV is below its median value, then we assume that price is consolidating.
Hypothesis:
Using COV on top of regular SMA signals should reduce a lot of unwanted noise such as consecutive crossovers during ranging-periods. Traders want volatility, but not too much of it when sniping for entry opportunities (speaking of initial position; need to add to winning positions after, but this is for another topic). For this reason, the median value of COV is suitable as a metric for signals.
Applications:
We use the median value of COV to form a decision rule. A signal is generated when COV > median(COV,m), and the direction of trend is determined based on relative position of price with respect to sma(price,n). When the value of COV is increasing, it can also be thought of seeing Bollinger Bands beginning to bulge. When trends begin, this program will plot triangles to signify entry opportunities.
CAT Month Opening RangeA trading range which is formed during the first three trading day of any month sets an important "Month Opening Range".
The lowest price made during the first three trading days can be considered the Monthly Support level (see the green line drawn by the indicator).
The highest price made during the first three trading days can be considered the Monthly Resistance level (see the red line drawn by the indicator).
In an Up trending market price tends to break over the upper edge of the Month Opening Range and keep moving higher at the very least until the middle of that month.
In an Up trending market once price broke out of the Month Opening Range, the Monthly Resistance level tends to work as a support.
In a Down trending market price tends to break under the lower edge of the Month Opening Range and keep moving higher at the very least until the middle of that month.
In a Down trending market once price broke under the Month Opening Range, the Monthly Support level tends to work as a resistance
There are may ways to use that instrument:
(1) Trend Confirmation.
The first three days of a month tends to bring volatile trading. The market sets boundaries for the following four trading weeks.
Once the range has been set, swing traders may wait for the market to break out of the range and consider that direction of the prevailing trend direction.
(2) Short "Failed Breakout" setup
Quite often price breaks out of the Month Opening Range on the fourth or fifth trading day of a month but then drops back into the range.
That failed breakout quite often is followed by decline back down to the Month Support level (the lower edge of the Month Opening Range).
(3) Long "Failed Breakdown" setup
Quite often price breaks down under the Month Support on the fourth or fifth trading day of a month but then pops back up over the Monthly Support.
That failed breakdown quite often is followed by a rally targeting to retest the Monthly Resistance (the red line).
The indicator generates signals, trade set-ups and alerts that are for educational and hypothetical purposes only and shall not be considered trade recommendations.
Any signals or trading setups drawn by the indicator is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of the indicator must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision.
Fixed Quantum VectorSelect a zone to analyse the vectors.
This screener show the ratio of the bullish and bearish candle vector and on volume.
Slide the white bar to choose your sample size or you can enter the date.
Click label to hide start calculation and end calculation.
- Happy trading
Visible RangeA quick and easy "at a glance" display for the viewable candles. It does repaint, but that is a non-issue, as it is simply a quick and handy tool to visually see a quick peek at the visible range.
The highest, lowest, and average are displayed, with labels for the percentage distance from the current close value and total range.
Automatic color for each based on relative distance for consistency in stable or volatile conditions.
RSI Objective LinesThe RSI is a contrarian indicator bounded between 0 and 100 where values close to the area of 30 represent an oversold condition and values close to the area of 70 represent an overbought condition.
Generally, we use the area of 70/75 and the area of 30/25 as extremes that signal a market reversal or a correction. But what if we calculate a simple way to make these levels more dynamic?
The main idea from these objective support and resistance levels is that market regime and dynamics move and as such fixed levels are unlikely to always provide value which means that we can try creating variable levels. The objective support and resistance levels are created following these steps:
* Calculate a 14-period RSI on the close price, let's call this RSI_Close.
* Calculate a 14-period RSI on the high price, let's call this RSI_High.
* Calculate a 14-period RSI on the low price, let's call this RSI_Low.
* Calculate the maximum range which is the highest value of RSI_High in the last 200 periods minus the lowest value of RSI_Low in the last 200 periods. Let's call this Max_Range
* Define the range width. By default, it is set to 5%. Let's call this Threshold.
* The objective support is calculated as the sum of the RSI_Low + (Max_Range * Threshold).
* The objective resistance is calculated as the sum of the RSI_High - (Max_Range * Threshold).
The levels are used in the same way as the oversold and overbought levels. They are more dynamic as they take into account the fluctuations of the RSI so you might see at some point in time a support at 20 and at another at 35.
ATR & APCAverage True Range (ATR) and Average Price Change (APC). Shows the ATR and APC as well as the TR and PC for the current bar, colour coded to indicate very large/small bars. The ATR and APC are also colour coded to reflect whether they are increasing or decreasing. Style will need to be customized.
