TradingGroundhog - Strategy & Fractal V1#-- Public Strategy - No Repaint - Fractals -- Short term
Here I come with another script, more simple than Wavetrend V1. You will love it.
#-- Synopsis --
Another simple idea, on a small time frame (15 min) we buy when the opening price goes below a Bottom fractals and sell when it goes over a Top fractals, but as this script do not use Wavetrends. You should stop by your self to use the script during long lasting downtrends.
I developed the strategy using BTC /EUR 3 MIN BINANCE but it can be applied to many other cryptos, I don't know for forex or others. You can use it for short term (to a month of uptrend) and automated trading.
#-- Graph reading --
And now, how to read it ?
Fractals:
Yellow Flags occur when the opening price goes below a Bottom fractal , it means Buy.
White Flags appear when the opening price goes over a Top fractal , it means Sell.
#-- Parameters --
*** Parameters have been intensively optimized using 10 cryptocurrency markets in order to have potent efficiency for each of them. I would recommend to only change the Can Be touch parameter. For the others, I don't recommend any modifications. The idea behind the script is to be able to switch between markets without having to optimize parameters, less work, easy to target active crypto and therefor limit the risks. ***
Can be touch :
'Filter fractals' : Activate or Disable the filtering fractal operation. If Enable, buy during less risky periods. (Activate is often better)
Can be touch but not necessary :
'VolumeMA' : The Volume corrector used by the fractals
'Extreme window' : The number of price individuals to look for if we want to remove extreme fractals.
Not to touch :
'Long Sop Loss (%)' : The minimal difference of price between a Fractal bottom and the opening price to buy.
#-- Time frame --
Should be used with the following time frames depending on the necessity:
1 MIN
3 MIN (Preferred with the parameters set)
5 MIN
#-- Last words --
The script can be set up to send Tradingview signals to 3comma just by adding comment = " " in strategy.close_all() and strategy.entry().
Good trades !
Disclaimer (As it should always be one to any script)
***
This script is intended for and only to be used for personal purposes only. No such information provided by it constitutes advice or a recommendation for any investment or trading strategy for any specific person. There is no guarantee presented or implied as to the accuracy of specific forecasts, projections, or predictive statements offered by the script. Users of the script agree that its original developer does not take responsibility for any of your investment decisions. Please seek professional advice before trading.
***
# Here are the results from the 20rst of September 2021 with 100% of equity on the BTC /EUR 3 Min and with a capital of 10 000 EUR. So almost, one month.
# As I saw, it goes from +30% to more than +160% (the great SHIB) depending on the selected crypto. It may be negative if you spot a downtrend.
在腳本中搜尋"THE SCRIPT"
TradingGroundhog - Strategy & Wavetrend V2#-- Public Strategy - No Repaint - Fractals - Wavetrend --
Here I come with another script, a nice and simple strategy based on fractals and Wavetrends.
#-- Synopsis --
A simple idea, on a small time frame (15 min) we buy when the opening price goes below a Bottom fractals and sell when it goes over a Top fractals, but in order to avoid bad and evil downtrends, we use Wavetrends based on a Daily time frame. From it, Tops and Bottoms are extracted. If the opening price goes above Wavetrend Tops, no trades will be conducted during the day. If the price goes below Wavetrend bottoms, no trades will be executed from 1 to N days, until a new Wavetrend bottom is generated.
I developed the strategy using BTC /EUR 15 MIN BINANCE but it can be applied to many other cryptos, I don't know for forex or others. You can use it for long term and automated trading, I implemented the Wavetrend indicator to do so, or for short term if you have spot a long coming uptrend. Test it, look at its profit and long or short period on your crypto of choice.
#-- Graph reading --
And now, how to read it ?
Wavetrends:
Red Backgrounds are associated to No Trade periods. These periods occur when the price goes below a Wavetrend bottom or above a Wavetrend Top. They are here to limit the loss.
Blue Gradient lines represent the past Tops. For each bar, only the increasing values of the Wavetrend tops are acquired. Going from light to dark blue based on the age of the Tops. Thus, if on line goes from dark to light, this means the price is approaching a previous Wavetrend top. In the opposite, if it darken, thus the price say 'buy buy' and go dropping.
Yellow Gradient lines represent the past Bottoms. They are based on the same principe that the blue lines.
Fractals:
Yellow Flags occur when the opening price goes below a Bottom fractal , it means Buy.
White Flags appear when the opening price goes over a Top fractal , it means Sell.
#-- Parameters --
*** Parameters have been intensively optimized using 10 cryptocurrency markets in order to have potent efficiency for each of them. I would recommend to only change the Can Be touch parameter. For the others, I don't recommend any modifications. The idea behind the script is to be able to switch between markets without having to optimize parameters, less work, easy to target active crypto and therefor limit the risks. ***
Can be touch :
'Combined Smoothness' : The number of open individuals used by the Wavetrend. (6 or 9, often 9 is better but with less volatile crypto it will be 6)
'Filter fractals' : Activate or Disable the filtering fractal operation. If Enable, buy during less risky periods. (Disable is often better)
Can be touch but not necessary :
'VolumeMA' : The Volume corrector used by the fractals
'Extreme window' : The number of price individuals to look for if we want to remove extreme fractals.
Not to touch :
'Limit_candle to look on' : Number of candles to use to compute the Wavetrend Tops and Bottoms.
'Length top bottom drawn' : Size of the lines
'Long Sop Loss (%)' : The minimal difference of price between a Fractal bottom and the opening price to buy.
#-- Time frame --
Should be used with the following time frames depending on the necessity:
1 MIN
3 MIN (Interesting for short term profit, may need some parameter ajustements)
5 MIN
15 MIN (Preferred for long term profit, the script was developed on it)
#-- Last words --
The script can be set up to send Tradingview signals to 3comma just by adding comment = " " in strategy.close_all() and strategy.entry().
Good trades !
Disclaimer (As it should always be one to any script)
***
This script is intended for and only to be used for personal purposes only. No such information provided by it constitutes advice or a recommendation for any investment or trading strategy for any specific person. There is no guarantee presented or implied as to the accuracy of specific forecasts, projections, or predictive statements offered by the script. Users of the script agree that its original developer does not take responsibility for any of your investment decisions. Please seek professional advice before trading.
***
# Here are the results from the 1rst of July 2021 with 100% of equity on the BTC /EUR 15 Min and with a capital of 1 000 EUR.
# As I saw, it goes from +20% to more than +100% depending on the selected crypto. Sometimes it's negative but it's quite rare on crypto using the EUR.
Moving Stop-Loss mechanism + alerts to MT4/MT5"How to code moving stop-loss mechanism", is one of the most often repeating questions in private messages I receive, so just to focus on this mechanism, I made a spin-off from my previous script: TradingView-Alerts-to-MT4-MT5-dynamic-variables-NON-REPAINTING .
The logic here moves the stop-loss each time a trade is running and a new pivot high/low is detected. When such event occurs (UpdateLongStopLoss or UpdateShortStopLoss), stoploss_long or stoploss_short mutable variable is modified. And it needs to be coded inside strategy.exit() line as "stop=stoploss_long" or "stop=stoploss_short". Entries are pretty straightforward - on Stoch crosses.
Last lines of the script show how to wrap information about such updates and send send alerts to MetaTrader via TradingConnector for execution in Forex/indices/commodities/crypto markets via MetaTrader. Please note that "tradeid=" variable must be passed with each alert, to let MetaTrader know which trade to modify. SLMOD, TPMOD are recently added commands, along with BE (as in "move stop-loss to breakeven" - but that's another topic).
Please disregard strategy backtest results, as this script is for coding education purposes only. However, it seems with the stop-loss mechanism enabled, the results are even better, than in original version of the script :)
BULLSEYE BORDERS (Combined Price Action Follower)Developed for Crypto Currency Market! Use for 15 minutes period or more! Under 15 minutes, results are unpredictible.
This script had been orginized with Donchian Lines based on support and resistance levels.
Rules:
If the price is under top line, you will be ready for short position, and over the bottom line, long position.
When the price passes the red and green area you can take action and enter the trade!
Orange area refers the squeezed or floating position, so you can either stop or wait for price action!
If you see boring candles frequently, check out the last high and low levels.
If the price close to the last high, take long position. If not, short position.
Use ALMA , if you want to put and alert on script. It is identical to price line.
Thanks to @millerrh for 'Breakout Trend Follower'. Just used the last low and high features to complete the script. Combined with 'Boring Candles' from ©Prasad Raut, Modified on 20190811 (Updated to %30 full candle)
Trend Tip: You can use the script with Linear Channel so you can also see the trend. (not always)
Color Gradient Framework [PineCoders]█ OVERVIEW
This indicator shows how you can use the new color functions in Pine to generate color gradients. We provide functions that will help Pine coders generate gradients for multiple use cases using base colors for bull and bear states.
█ CONCEPTS
For coders interested in maximizing the use of color in their scripts, TradingView has added new color functions and new functionality to existing functions. For us coders, this translates in the ability to generate colors on the fly and use dynamic colors ("series color") in more places.
New functions allow us to:
• Generate colors dynamically from calculated RGBA components ("A" is the Alpha channel, known to Pine coders as the "transparency"). See color.rgb() .
• Extract RGBA components from existing colors. See color.r() , color.g() , color.b() and color.t() .
• Generate linear gradients between two colors. See color.from_gradient() .
Improvements to existing color/plotting functions allow more flexible use of color:
• plotcandle() now accepts a "series color" argument for its `wickcolor` and `bordercolor` parameters.
• plotarrow() now accepts a "series color" argument for its `colorup` and `colordown` parameters.
Gradients are not only useful to make script visuals prettier; they can be used to pack more information in your displays. Our gradient #4 goes overboard with the concept by using a different gradient for the source line, its fill, and the background.
█ OUR SCRIPT
The script presents four functions to generate gradients:
f_c_gradientRelative(_source, _min, _max, _c_bear, _c_bull)
f_c_gradientRelativePro(_source, _min, _max, _c_bearWeak, _c_bearStrong, _c_bullWeak, _c_bullStrong)
f_c_gradientAdvDec(_source, _center, _c_bear, _c_bull)
f_c_gradientAdvDecPro(_source, _center, _steps, _c_bearWeak, _c_bearStrong, _c_bullWeak, _c_bullStrong)
The relative gradient functions are useful to generate gradients on a source that oscillates between known upper/lower limits. They use the relative position of the source between the `_min` and `_max` levels to generate the color. A centerline is derived from the `_min` and `_max` levels. The source's position above/below that centerline determines if the bull/bear color is used, and the relative position of the source between the centerline and the max/min level determines the gradient of the bull/bear color.
The advance/decline gradient functions are useful to generate gradients on a source for which min/max levels are unknown. These functions use source advances and declines to determine a gradient level. The `f_c_gradientAdvDec()` version uses the historical maximum of advances/declines to determine how many correspond to the strongest bull/bear colors, making its gradients adaptive. The `f_c_gradientAdvDecPro()` version requires the explicit number of advances/declines that correspond to the strongest bull/bear colors. This is useful when coloring chart bars, for example, where too many gradient levels are difficult to distinguish. Using the Pro version of the function allows you to limit the number of gradient levels to 5, for example, so that transitions are fewer, but more obvious. The `_center` parameter of the advance/decline functions allows them to determine which of the bull/bear colors to use.
Note that the custom `f_colorNew(_color, _transp)` function we use in our script should soon no longer be necessary, as changes are under way to allow color.new() to accept series arguments.
Inputs
The script's inputs demonstrate one way you can allow users to choose base bull/bear colors. Because users can modify any of the colors, only two are technically needed: one for bull, one for bear, as we do for the configuration of the bull/bear colors for the background in the gradient #4 configuration. Providing a few presets from which users can choose can be useful for color-challenged script users, but that type of inputs has the disadvantage of not rendering optimally in all OS/Browser environments.
You can use the inputs to select one of eight gradient demonstrations to display.
█ THANKS
Thanks to the PineCoders team for validating the code and description of this publication.
Thanks also to the many TradingView devs from multiple teams who made these improvements to Pine colors possible.
Look first. Then leap.
Raff Regression Channel by DGTRᴀꜰꜰ Rᴇɢʀᴇꜱꜱɪᴏɴ Cʜᴀɴɴᴇʟ (RRC)
This study aims to automate Raff Regression Channel drawing either based on ZigZag Indicator or optionally User Preference
The Raff Regression Channel , developed by Gilbert Raff, is based on a linear regression, which is the least-squares line-of-best-fit for a price series, with evenly spaced trend lines above and below . The width of the channel is set by determining the high or low that is the furthest from the linear regression.
Because the channel distance is based off the largest pullback or highest peak within a trend, for effectively drawing and using a Raff Regression Channel it is recommend/required that a Raff Regression Channel is applied to “mature” trends. Knowing this requirement, for better automated drawing results this study benefits from the Zig Zag Indicator, where the Zig Zag indicator is used to help identify price trends and changes in price trends. Option to manually adjust lengths for drawing a Raff Regression Channel is also made available.
Using a Raff Regression Channel
Once The Raff Regression Channel is drawn, covering an existing trend, Exᴛᴇɴꜱɪᴏɴ Lɪɴᴇꜱ are drawn to identify ᴛʜᴇ ꜱᴜᴘᴘᴏʀᴛ﹐ʀᴇꜱɪꜱᴛᴀɴᴄᴇ ᴏʀ ʀᴇᴠᴇʀꜱᴀʟ ᴘᴏɪɴᴛꜱ
The trend is up as long as prices rise within this channel. An uptrend may be reversing (not always, but likely) when price breaks below the channel extension . The trend is down as long as prices decline within the channel. Similarly, a downtrend may be reversing (not always, but likely) when price breaks above the channel extension . Moves outside the channel extensions can be indication of a reversal or can denote overbought or oversold conditions
For further details please refer to education post Raff Regression Channel
█ FEATURES
- AUTO or MANUALLY adjusted Raff Regression Channel and Channel Extentions drawing
- ALERTs, for Linear Regression Line, Raff Regression Upper and Lower Channel Extentions
- LSMA , Least Squares Moving Average, in other words Linear Regression Curve
█ SETTINGS
Setting Loopback and Number of Bars are the most important part for The Raff Regression Channel, where ;
- Lookback, defines where the Raff Regression Channel is starting, it is recommended to set to a trend begining
- Number of Bars, defines how many bars to be assumed for calculation, or simply stated the end of the Raff Regression Channel drawing (not extentions but the main channel, extentions by default will be drawn till the last bar)
Setting of Loopback and Number of Bars is performed eigher automatically based on Zig Zag indicator or users may prefer to set them manually. If selected automatically then
- Deviation and Depth values of Zig Zag indicator are used for calculations (enabling visually plotting of ZigZag Lines will help to identify better visually the points), where ;
Deviation, is a multiplier that affects how much the price should deviate from the previous pivot in order for the bar to become a new pivot.
Depth, affects the minimum number of bars that will be taken into account when building
Short-term traders may wish to apply the channel to small waves of a trend so they can reduce the value of the Deviation and Depth
█ OTHER CHANNEL CONSEPTS
Linear Regression Channels, , what linear regression channels are? and linear regression channel/curve/slope study
Fibonacci Channels, how to apply fibonacci channels and automated fibonacci channels study
Andrews’ Pitchfork, how to apply pitchfork and automated pitchfork study
Special Thanks to @Kiss66000 for his kind suggestion, je vous remercie beaucoup @Kiss66000
Disclaimer :
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Auto PitchFan, Fib Extension/Retracement and ZigZag by DGT Aᴜᴛᴏ PɪᴛᴄʜFᴀɴ, Fɪʙ Exᴛᴇɴꜱɪᴏɴ/Rᴇᴛʀᴀᴄᴇᴍᴇɴᴛ ᴀɴᴅ ZɪɢZᴀɢ
This study aim to automate PitchFan drawing tool and combines it with Fibonacci Extentions/Retracements and ZigZag.
Common setting options, applied to all components of the study
Deviation , is a multiplier that affects how much the price should deviate from the previous pivot in order for the bar to become a new pivot. Increasing its value is one way to get higher timeframe Levels
Depth , affects the minimum number of bars that will be taken into account when building
Historical PitchFan / Fibonacci Levels option will allow plotting of PitchFan / Fibonacci Levels on previous Pivot Highs/Lows
█ PɪᴛᴄʜFᴀɴ — is a set of rays spreading out of the point of a trend's beginning. These rays inclined with the coefficients formed by a Fibonacci number sequence. It is recommended to adjust the Pitchfan plottings to fit after the first wave of the trend has passed and the correction has clearly begun.
PitchFan rays corresponding to Fibonacci levels appear on a chart and represent inclined lines of support and resistance. Price areas near these rays are estimated areas from which the price can turn around or make a significant rebound. The whole logic of working with a pitchfan is based on one simple idea - if the price has bounced off the level, then the correction is likely to end, and the trend will continue. If the price has broken the first resistance, you should wait for the next level test
- Automatically plots PitchFan Rays, based on Pivot Lows/Highs.
- Ability to set ALERTs for each PitchFan Ray Level
- PitchFan Labels displays the price of the line at the last bar, the price value will be recalculated in each new bar
Please check the link provided below with the educational post of how to apply pitchfork, application of pitchfan is same keeping in mind the recommendation stated above
█ Fɪʙ Rᴇᴛʀᴀᴄᴇᴍᴇɴᴛs / Exᴛᴇɴꜱɪᴏɴꜱ
Fibonacci retracements is a popular instrument used by technical analysts to determine support and resistance areas. In technical analysis, this tool is created by taking two extreme points (usually a peak and a trough) on the chart and dividing the vertical distance by the key Fibonacci coefficients equal to 23.6%, 38.2%, 50%, 61.8%, and 100%.
Fibonacci extensions are a tool that traders can use to establish profit targets or estimate how far a price may travel AFTER a retracement/pullback is finished. Extension levels are also possible areas where the price may reverse.
IMPORTANT NOTE: Fibonacci extensions option may require to do further adjustment of the study parameters for proper usage. Extensions are aimed to be used when a trend is present and they aim to measure how far a price may travel AFTER a retracement/pullback. I will strongly suggest users of this study to check the education post for further details where to use extensions and where to use retracements
- Automatically plots possible Support and Resistance levels, based on Pivot Lows/Highs.
- Ability to set ALERTs for each Fibonacci Extension/Retracement Level
- Labels displays the level and the level price
█ Zɪɢ Zᴀɢ — The Zig Zag indicator is used to help identify price trends and changes in price trends. The Zig Zag indicator plots points on a chart whenever prices reverse by a percentage greater than a Deviation variable. Straight lines are then drawn, connecting these points. The Zig Zag indicator serves base for PitchFan and Fibonacci Retracements / Extensions
█ OTHER
PitchFan is often used in combination with the other indicators and/or drawing tools such as Fibonacci Retracement, Fibonacci Channels, Fibonacci Time Zone and others. It allows identify the most powerful areas from which price can turn and to get more accurate trading signal
Andrews’ Pitchfork, how to apply pitchfork and automated pitchfork study
Fibonacci Fans, how to apply fibonacci fans and automated fibonacci speed and resistance fans study
Fibonacci Extension / Retracement, where to use extensions and where to use retracements and automated fibonacci extension / retracement / pivot points study
Others
Fibonacci Channels, how to apply fibonacci channels and automated fibonacci channels study
Linear Regression Channels, , what linear regression channels are? and linear regression channel/curve/slope study
Disclaimer :
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
RSI Support & Resistance by DGTRSI Sᴜᴘᴘᴏʀᴛ & Rᴇꜱɪꜱᴛᴀɴᴄᴇ ʙʏ DGT
This experimental study attempts to translate Relative Strength Index (RSI) threshold levels of oversold/overbought and bull/bear zones as probable Price Support and Resistance levels
█ OPTIONS
Support & Resistance Levels , the main aim of the study. Level calculations are based on Relative Strength Index (RSI) threshold levels of oversold/overbought and bull/bear zones, where all threshold values are customizable through the user dialog box. Background of the levels can be colored optionally
RSI Weighted Colored Bars and/or Mark Overbought/Oversold Bars , Bar colors can be painted to better emphasis RSI values. Darker colors when the oscillator is in oversold/overbought zones, light colors when oscillator readings are below/above the bull/bear zone respectively, and remain unchanged otherwise. Besides the colors, with “Display RSI Overbought/Oversold Price Bars” option little triangle shapes can be plotted on top or bottom of the bars when RSI is in oversold/overbought zones
Example usage of the study with explanations
█ OTHERS
More regarding Support & Resistance concept (definition, identifying levels, trading S&R, etc) you are kindly invited to check my previous publication
Price Action - Support & Resistance by DGT
More regarding Relative Strength Index (RSI) and Relative Strength of Volume Indicators , please check Relative Strength of Volume Indicators by DGT
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
V2_Major_Trend_FinderThis script is a major trend following script. The calculations use Keltner Channels, moving averages and RSI.
The indicator is simple to follow:
Green Candlesticks indicate more bullish momentum expected
Red Candlesticks indicate more bearish momentum expected
blue dots are possible long ideas due to RSI oversold
Orange dots are possible short ideas due to RSI overbought
olive line is a one year moving average
The script is open for those looking for deeper understanding of the script.
Many Regards
Sulaiman
Market Structure (Nephew_Sam_)This indicator consists of 3 features:
1. Plots label to the right for current market structure
2. Plots dashed line to show where the next market structure would be
3. Draws arrows above/below historical market structure breaks
This might get a little to noisy in ranging markets or lower timeframes but it does the job.
Credits to @SimpleCryptoLife for the source code.
This script is take from the indicator "True Market Structure" which is created by the above mentioned user
Copyright rules for reusing the script:
// == COPYRIGHT ==
// Script by @SimpleCrpytoLife. This script is open-source.
// --> If you use ideas from it, you don't need to ask or give credit to me.
// --> If you copy code out of here to adapt for your own script, it must be open-source. You don't need to ask permission, just credit @SimpleCryptoLife.
Neglected Volume by DGTVolume is one piece of information that is often neglected, however, learning to interpret volume brings many advantages and could be of tremendous help when it comes to analyzing the markets. In addition to technicians, fundamental investors also take notice of the numbers of shares traded for a given security.
What is Volume?
The volume represents all the recorded trades for a security that occurs in a given time interval. It is a measurement of the participation, enthusiasm, and interest in a given security. Think of volume as the force that drives the market. Volume substantiates, energizes, and empowers price. When volume increases, it confirms price direction; when volume decreases, it contradicts price direction.
In theory, increases in volume generally precede significant price movements. However, If the price is rising in an uptrend but the volume is reducing or unchanged, it may show that there’s little interest in the security, and the price may reverse.
A high volume usually indicates more interest in the security and the presence of institutional traders. However, a rapidly rising price in an uptrend accompanied by a huge volume may be a sign of exhaustion.
Traders usually look for breaks of support and resistance to enter positions. When security break critical levels without volume, you should consider the breakout suspect and prime for a reversal off the highs/lows
Volume spikes are often the result of news-driven events. Volume spike will often lead to sharp reversals since the moves are unsustainable due to the imbalance of supply and demand
note : there’s no centralized exchange where trades are recorded, so the volume data represents what happens at a particular exchange only
In most charting platforms, the volume indicator is presented as color-coded bars, green if the security closes up and red if the security closed lower, where the height of the bars show the amount of the recorded trades
Within this study, Relative Volume , Volume Weighted Bars and Volume Moving Average are presented, where Relative Volume relates current trading volume to past trading volume over long period, Volume Weighted Bars presents price bars colored based on short period past trading volume average, and Volume Moving Average is average of volume over shot period
Relative Volume is presented as color-coded bars similar to regular Volume indicator but uses four color codes instead two. Notable increases of volume are presented in green and red while average values with back and gray, hence adding ability to emphasis notable increases in the volume. It is kind of a like a radar for how "in-play" a security is. Users are allowed to change the threshold, default value is set to Fibonacci golden ration standard deviation away from its moving average.
Volume Weighted Bars, a study of Kıvanç Özbilgiç, aims to present if price movements are supported by Volume. Volume Weighted Bars are calculated based on shot period volume moving average which will reflect more recent changes in volume. Price actions with high volume will be displayed with darker colors, average volume values will remain as they are and low volume values will be indicated with lighter colors.
Volume Moving Average, Is short period volume moving average, aims to display visually the volume changes. Please not that Relative Volume bars are calculated based on standard deviation of long volume moving average.
What Else?
Apart from the volume itself, your ability to assess what volume is telling you in conjunction with price action can be a key factor in your ability to turn a profit in the market. It makes little sense to analyze the volume alone. To correctly interpret the volume data, it shall be seen in the light of what the price is doing. there are a lot of other indicators that are based on the volume data as well as price action. Analysing those volume indicators has always helped traders and investors to better understand what is happening in the market.
Here are the ones adapted with this study. Some of them used as a source for our aim, some adapted as they are with slight changes to fit visually to this study and please note that the numerical presentation may differ from their regular use
• On Balance Volume
• Divergence Indicator
• Correlation Coefficient
• Chaikin Money Flow
Shortly;
On Balance Volume
The On Balance Volume indicator, is a technical analysis indicator that relates volume flow to changes in a security’s price. It uses a cumulative total of positive and negative trading volume to predict the direction of price. The OBV is a volume-based momentum oscillator, so it is a leading indicator — it changes direction before the price
Granville, creator of OBV, proposed the theory that changes in volume precede price movements in a measurable way. He believed that volume was the main force behind major market moves and thought of OBV’s prediction of price changes as a compressed spring that expands rapidly when released.
It is believed that the OBV shows the interactions between the institutional and retail traders in the market
If the price makes a new high, the OBV should also make a new high. If the OBV makes a lower high when the price makes a higher high, there’s a classical bearish divergence — indicating that only the retail traders are buying. Another type of bearish divergence occurs when the price remains relatively quiet and fails to make a higher high but the OBV soars higher than the previous high — indicating that the institutional traders are accumulating short positions. On the other hand, if the price makes a lower low and the OBV makes a higher low, there is a classical bullish divergence, showing that the institutional traders don’t believe in that move
With this study, Momentum and Acceleration (optional) of OBV is calculated and presented, where momentum is most commonly referred to as a rate and measures the acceleration of the price and/or volume of a security. It is also referred to as a technical analysis indicator and oscillator that is able to determine market trends.
Additionally, smoothing functionality with Least Squares Method is added
Divergences especially, should always be noted as a possible reversal in the current trend, so the divergence indicator is adapted with this study where the Momentum of OBV is assumed as Oscillator with similar usages as to RSI. Divergence 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. The divergence indicator warns traders and technical analysts of changes in a price/volume trend, oftentimes that it is weakening or changing direction.
Correlation Coefficient
The correlation coefficient is a statistical measure of the strength of the relationship between the relative movements of two variables. A correlation of -1.0 shows a perfect negative correlation, while a correlation of 1.0 shows a perfect positive correlation. A correlation of 0.0 shows no linear relationship between the movement of the two variables. In other words, the closer the Correlation Coefficient is to 1.0, indicates the instruments will move up and down together as it is mostly expected with volume and price. So the Correlation Coefficient Indicator aims to display when the price and volume (on balance volume) is in correlation and when not. With this study blue represent positive correlation while orange negative correlation. The strength of the correlation is determined by the width of the bands, to emphasis the effect horizontal lines are drawn with values set to 0.5 and -0.5. the values above 0.5 (or below -0.5) shows stronger correlation.
Chaikin Money Flow , provide optionally as a companion indicator
The Chaikin money flow indicator (CMF) is a volume indicator that measures the money flow volume over a chosen period. The money flow volume is a measure of the volume and where the price closed relative to the trading session’s range. It comes from the idea that buying pressure is indicated by a rising volume and recurrent closes in the upper part of the session’s price range while selling pressure is demonstrated by an increasing volume and repeated closes in the lower part of the price range.
Both buying and selling pressures are accompanied by an increase in volume, but the location of the closing prices are in accordance with the direction of price
Special thanks to @InvestCHK and @hjsjshs , who have enormously contributed while preparing this study
related studies:
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Matrix functions - JD/////////////////////////////////////////////////////////////////////////////////////////////////////////////////
// The arrays provided in Pinescript are linear 1D strucures that can be seen either as a large vertical stack or
// a horizontal row containing a list of values, colors, bools,..
//
// With the FUNCTIONS in this script the 1D ARRAY LIST can be CONVERTED INTO A 2D MATRIX form
//
//
///////////////////////////////////////////
/// BASIC INFO ON THE MATRIX STRUCTURE: ///
///////////////////////////////////////////
//
// The matrix is set up as an 2D structure and is devided in ROWS and COLUMNS.
// following the standard mathematical notation:
//
// a 3 x 4 matrix = 4 columns
// 0 1 2 3 column index
// 0
// 3 rows 1
// 2
// row
// index
//
// With the use of some purpose-built functions, values can be placed or retrieved in a specific column of a certain row
// this can be done by intuitively using row_nr and column_nr coördinates,
// without having to worry on what exact index of the Pine array this value is located (the functions do these conversions for you)
//
//
// the syntax I propose for the 2D Matrix array has the following structure:
//
// - the array starts with 2 VALUES describing the DIMENSION INFORMATION, (rows, columns)
// these are ignored in the actual calculations and serve as a metadata header (similar to the "location, time,... etc." data that is stored in photo files)
// so the array always carries it's own info about the nr. of rows and columns and doesn't need is seperate "info" file!
//
// To stay consistent with the standard Pinescript (array and ) indexing:
// - indexes for sheets and columns start from 0 (first) and run up to the (total nr of sheets or columns) - 1
// - indexes for rows also start from 0 (most recent, cfr. ) and run up to the (total nr of rows) - 1
//
// - this 2 value metadata header is followed by the actual df data
// the actual data array can consist of (100,000 - 2) usable items,
//
// In a theoretical example, you can have a matrix with almost 20,000 rows with each 5 columns of data (eg. open, high, low, close, volume) in it!!!
//
//
///////////////////////////////////
/// SCHEMATIC OF THE STRUCTURE: ///
///////////////////////////////////
//
////// (metadata header with dimensions info)
//
// (0) (1) (array index)
//
Derivative Pivot HL Points Hello.
This script aims to take into account mutable variable Pivot Points' periods.
While doing this, it takes the period between 2 signals that I use in the script:
And these periods in my Pivot HL function integrated into len length (Mutable variables) :
The cornerstone of the script is these facts.
Pivot can be optimized by playing with reversal periods.
These pre-formed levels can be used as Supply and Demand levels.
Regards.
TRM StrategyThis is a strategy version of the "True Relative Movement" script:
It is virtually identical to the original script, except now you can back test different conditions and parameters.
TRM has 3 different conditions:Buy (Blue Bars), Hold/Take Profit (Gray Bars), and Sell (Pink Bars).
This script is only coded for Long only condition. It will exit the position when there is a sell signal, no take profit parameters are coded.
The example backtest results shown are on $AAPL with a starting Capital of 10k, with each trade investing 10% of capital. I cannot show results vs buy and hold (meaning re-investing 100% of capital) as this is against house rules. However, I HIGHLY encourage you to experiment with different trade parameters, time frames, symbols and settings for TRM. You will find that certain time frames perform better under different TSI and RSI settings. The "Slower paced trader" can use the "Slow settings" for TRM ( Instructions embedded in the settings window). This will produce less signals ect.... I am personally, constantly finding different settings that work for different ETF's, symbols ect...
As a discretionary trader, it is important to have a system that has an "edge". That is what the script is meant for... finding an edge to help you make sound trading decisions and help you manage risk accordingly.
Enjoy, and please DO NOT hesitate to ask me any questions.
B3 Clear Method Streak CountAbout Clear Method -- to repeat my prior post on the bar painter script:
This indicator is translated out of Technical Analysis of Stocks & Commodities , September 2010, (I take zero design credit). The script simply looks for the price action to break or "clear" the most recent action, and only changes the paintbar color if the action indeed clears the previous candles. Simple to use, just add to your chart from your favorites and change the colors in the UI. It does the rest.
This version can replace my previous Clear Method Bar Painter as it also paints the bars.
What is different is this share is a lower study that counts the streak of the bars shown via histogram.
The way to use the streak is to notice the previous streaks and get a sense of how long the current trend is lasting versus prior trends of the same direction.
@Tradestation recently posted their "price streak" study, and this one is quite similar in nature.
Enjoy, the code open to view,
_B3
d^.^b
FX Meter ScriptA while ago, we wrote* about the usefulness of using a currency strength meter and how you can build one from scratch.
See here: www.globalprime.com.au
Now we've taken this little project to the next level by visually spotting, via color signals in a dashboard and alerts, when a potential new trend might be developing in a currency pair.
*It's critical that you first read that article before you jump into reading this one or else you could get easily lost.
The script gives a trigger every time two currencies show diverging flows via opposing moving average slopes.
The signals originate from a first chart where currency indexes can be found, calculated through a formula, in various thin lines. Then a moving average to each currency index is applied so that it can smooth out the lines (what I call Micro moving averages – thicker lines -) and is usually a 4-5 period MA, with the key input to pay attention being the slope. One can perform their own tests on what works best for their particular trading style. The smaller the period in the moving average, the more responsive to changes in biases but the downside is that you will get a greater number of false moves. In the windows below the 1st chart, the stochRSI is calculated for each currency index (these values originate from the currency index and not from the applied MA). By default, a 25-period is applied to both RSI and Stoch length.
A 2nd chart that looks at the same logic is also accounted for to build this script, but instead of checking the micro trend, it applies a 25MA to the currency index, so it looks at what I call the slope of the macro trend. In this case, by default, a 125-period is applied to both RSI and Stoch length.
We had in mind to transition from just eye-balling and monitoring these charts manually to build a script via Tradingview that makes calculations real time (whenever the change in the moving average slope first occurs, and not when the bar/line closes), so that one can decide whether or not its a signal worth trading as part of a new trend emerging. Note, this is not so much a signal-triggering indicator but rather a tool to constantly be on the lookout monitoring what currencies might start to develop trends.
The actual script consists of a dashboard with different colored rectangles being triggered depending on the quality of the signal.
We will be happy to discuss it further with anyone who is interested in exploiting all the benefits that it can offer.
The way you add the script into your Tradingview chart is by first copy everything in the txt file. Then go to Pine editor (bottom middle-left) in your tradingview chart, delete everything there, then Paste the script. Then click Add to Chart (top right of the pine editor).
Note, you should add via the Anchored Text function the following list of pairs below, in this alphabetic order, on the right-hand side of the chart, as demonstrated above:
AUDCAD
AUDJPY
AUDNZD
AUDUSD
CADJPY
EURAUD
EURJPY
EURCAD
EURNZD
EURGBP
EURUSD
GBPAUD
GBPCAD
GBPJPY
GBPNZD
GBPUSD
NZDCAD
NZDJPY
NZDUSD
USDCAD
USDJPY
There are only 2 rules for the script to trigger a signal (see below). However, as I will elaborate further down, there are up to 6 different colors we can grade a signal
RULE 1 -> 2 moving averages, which are a calculation applied to a currency index as shown in the micro trend above, exhibit slopes in the opposite direction.
RULE 2 -> The Stoch RSI cannot be in overbought conditions if the slope of the moving average points higher or in oversold if the slope points lower.
Note 1: Even if the chart is a 60m timeframe by default (can be changed to any timeframe(, one gets the signal the moment the change of slope is identified, which means the indicator monitors changes in price tick by tick, and not on a candle close, otherwise one would get the trigger too late.
As an example of the highest-graded signal triggering (in green), a few hours ago we were given the visual cue that GBPCAD was experiencing a change of behavior. If we crosscheck the time the green-colored trigger was given with the actual GBPCAD chart, this is what we can observe. The pair is 30p higher since the trigger.
HOW TO SETUP ALERTS
One can easily setup a notification window each time the above rules are met, for example, if the EUR MA slope changes to bullish, and the AUD MA slope changes to bearish, and none of the 2 currency index values corresponding to these 2 moving averages (EUR and AUD) show a stoch RSI in overbought (above 80) in the case of the EUR, or oversold (below 20) in the case of the AUD, then the notification pop up would show a customized line: Long EURAUD
Note 1: Recording the slope of the macro moving average, which is usually a 25period MA applied to the currency index, is not included as part of the rules to trigger a signal, but it is taken into account to grade the quality of each signal.
Note 2: I recommend each signal to be triggered once or if you prefer, simply monitor the chart visually on the change of colors via the dashboard. The calculation resets and can appear again the moment that the slope changes to the opposite direction, so it’s a very dynamic indicator that will alert you the second a pair of currencies starts trending.
Note 3: When the signal is triggered, the indicator draws a colored rectangle. Each signal notification should be colored based on the following logic below.
LOGIC TO QUALIFY SIGNALS
-> Any long micro position with Macro MA in full agreement (ie/ Long EURAUD, Macro EUR up, Macro AUD down) is highlighted with green color
-> Any long micro position with macro moving averages in partial agreement (for example Long EURAUD, Macro EUR up AUD up) is highlighted with blue color
-> Any long micro position with macro moving averages in full disagreement (for example Long EURAUD, Macro EUR down AUD up) is highlighted with magenta color
-> Any short micro position with macro moving averages in full agreement (for example Short EURAUD, Macro EUR down AUD up) is highlighted with red color
-> Any short micro position with macro moving averages in partial agreement (for example Short EURAUD, Macro EUR up AUD up) is highlighted with orange color
-> Any short micro position with macro moving averages in full disagreement (for example Short EURAUD, Macro EUR up AUD down) is highlighted with purple color
PARAMETERS IN THE SCRIPT SETTINGS
Overbought/oversold: One can modify the stoch RSI level from which the indicator considers the value to be in overbought or oversold conditions. As a rule of thumb, consider 20/30 for oversold and 70/80 for oversold.
Slopes micro/macro MAs: One can edit the slope of the micro MA period (rule of thumb 4-5) and the macro MA (by default 25).
Value StochRSI: The default inputs are K 3, D 3, RSI Length 25, Stoch Length 25 for the micro and 125 period for the macro.
Change colors: One can edit the assigned colors in the signals dashboard.
Timeframe applied: The indicator has the flexibility to be applied to any timeframe, not just the 60m by default. Simply change the timeframe temporality.
CURRENCY INDEXES FORMULAS
It is the responsibility of the user to keep the values of the indexes updated. Find a recent sample below, as per values in early April. What this means is that at least once a week, in order to not let the values outdated, you should update the script with the latest valuations in the denominator.
NZD INDEX -> FX_IDC:NZDAUD/0.96+FX:NZDJPY/75.81+FX:NZDUSD/0.68+FX_IDC:NZDEUR/0.6+FX_IDC:NZDGBP/0.52+FX:NZDCHF/0.69+FX:NZDCAD/0.9
EUR INDEX -> FX:EURUSD/1.13+FX:EURJPY/125.5+FX:EURGBP/0.87+FX:EURCHF/1.135+FX:EURCAD/1.49+FX:EURNZD/1.655+FX:EURAUD/1.59
JPY INDEX -> 1/(FX:USDJPY/110.5+FX:EURJPY/125.5+FX:AUDJPY/79+FX:NZDJPY/75.5+FX:GBPJPY/144.5+FX:CHFJPY/110.5+FX:CADJPY/84)
USD INDEX -> FX_IDC:USDEUR/0.88+FX:USDJPY/110.5+FX_IDC:USDGBP/0.77+FX:USDCHF+FX:USDCAD/1.315+FX_IDC:USDNZD/1.46+FX_IDC:USDAUD/1.4
CAD INDEX-> FX_IDC:CADAUD/1.07+FX_IDC:CADNZD/1.11+FX:CADJPY/84.27+FX_IDC:CADUSD/0.76+FX_IDC:CADEUR/0.67+FX:CADCHF/0.76+FX_IDC:CADGBP/0.58
GBP INDEX -> FX:GBPAUD/1.83+FX:GBPNZD/1.91+FX:GBPJPY/144.5+FX_IDC:GBPEUR/1.15+FX:GBPCHF/1.31+FX:GBPUSD/1.31+FX:GBPCAD/1.71
Remember, I have provided a manual on how to build a currency strength meter. That’s what you will need to do first if you want to obtain the actual currency indexes other than just the indicator, which is just the visual cue to get you alerted when the slopes turn.
Once you’ve created your indexes via tradingview, you then apply a moving average to each index. Then apply the stochrsi 25 period to each index. For the macro trend, I make the same calculations, but the period of the MA is 25 instead of 4, while the stoch rsi is 125 periods vs 25 periods.
FINAL NOTE
This is a tool that should be interpreted as visual assistance, via the dashboard, to get that first cue when opposing micro slopes via the FX meter occur. However, you still need to check the technical context of the pair (levels marked, proj reached, etc.) but that first cue is a major time saver to constantly spot what's trending in FX. The permutations u can play with, as part of this script, are significant. You can tweak the timeframes you use, the periods of the moving averages, etc. I find the micro and macro trend combos when either a green or red signals is triggered the most reliable, with positions to be exploited via 15m and hourly under the right technical context.
Dragon Bot - Default ScriptDragon Script is a framework to make it as easy as possible to test your own strategies and set alerts for external execution bots.
The script has many features build in, like:
1) A ping/pong mechanism between longs and shorts
2) A stop-loss
3) Trailing Stops with several ways to calculate them.
4) 2 different ways to flip from long to short.
The script is divided into several parts.
The first part of the script is used to set all the variables. You should normally never change the first part except for the comments at the top.
The second part of the script is the part where you initialise all your indicators. Several indicators can be found on Tradingview and on other sites. Please keep in mind that all the variable names used in the indicator should be unique. (all the … = … parts)
The third part of the script, is the most important part of the script. Here you can create the entry and exit points.
Let’s look at the OPENLONG function to explain this part: The first variables are all the possible entries; These are longentry1 till longentry5. You can add many more if you like.
The variables are all initialised as being false. This way the script can set a value to true if an entry happens.
The if function is the actual logic: You could say “if this is true” then (the line below the if function) longentry1 := (becomes) true.
In this case we have said: “if this is true” then (the line below the if function) longentry1 := (becomes) true when the current close is larger than the close that is 1 back.
The last part is the makelong_funct. This part says that if any of the entries are true, the whole function is true.
The last part of the script is the actual execution. Here the alerts are plotted and the back test strategies are opened and closed.
We hope you guys like it and all feedback is welcome!
Open Interest:CME e-o-d vs CFTC e-o-wCFTC only publishes total OI on fridays, related to last Tuesday.
But what happened since last Tuesday?
CME Vol & Open Interest data is recorded&exported daily by quandl.com to tradingview
via the che CHRIS/CME datasets
www.quandl.com
Eg. Nat Gas next outstanding cntract n. 20, field n. 7(OI)
@quandl.com:
www.quandl.com
is exported @tradingview:
www.tradingview.com
Every outstanding contract's OI & vol is exported (black column), but not the total (yellow line):
tiny.cc
This script sums up all the existing outstanding contract's OI for the future (the black column), so one can have an idea of the total OI for the day (Yellow line).
As numer of outstanding contracts varies from future to future,Eg:
E-mini (ES) has 4 contracts, Gold(GC) 16 cntrcts, NatGas(NG) has 43, WTI(CL) has 38 etc
the scrips tries to guess how many exist for it and sums them up, to have the total OI for tha day
Number ofoutstanding contracts exported by quandl.com to tradingview is taken from
s3.amazonaws.com
There are 2 params you can enter on the script:
* override the ticket symbol on the chart ,if script cannot guessit or you need a different one
* enter the "preliminary" OI that is published by CME early the next day, butb not yet exported by quandl to tradingview
This script is Open so anyone can copy and modifyit for its use.
Please post comments and ideas if you find it useful
I try to keep a log of my work here:
[RESEARCH] Percentrank BugI found a bug with built-in percentrank function. Sometimes it gives unexpected and incorrect results. You can see a one of them on the chart.
ALL scripts which use percentrank function are affected. No matter which version they use, no matter who is their author - ALL scripts which use this built-in function can work incorrectly.
If you want to avoid this bug use _percentrank function (the "shim" ) - you can find it in the script.
NOTE: Don't push on TradingView Support or Pine Core Team because they already know about this issue and work on the fix. I publish it to warn you.
Mayer Multiple @ Current PriceThough this script is by me, the original idea comes from a podcast I heard where Trace Mayer talks about how he does crypto valuation. It is based on current price against the 200 day moving average. This indicator script will simply plot that value as a label overlayed on your trading view chart. Best long term results occur when acquiring BTC when the multiple is 2.4 or less. For more info, google "mayer multiple" This script/indicator is strictly for educational purposes. It is not exclusive to bitcoin.
To get the best look out of your charts I make the following changes.
1.Apply the indicator to your chart.
2. In the tools palette of trading view, when looking at a chart, click "Show Objects Tree" the icon displayed above the trash can.
In the objects tree panel, click the preferences icon for "Mayer Multiple @ Current Price"
Switch "scale" to "scale Left"
3. Then for your chart preferences (right click on chart background and select "Properties", and be sure the following are checked on the "Scales" tab
Left Axis
Right Axis
Indicator Last Value
Indicator Labels
Screenshots are not allowed in this view, so I can't post screenshots, but the view above is what it should look like when you are done.
For anyone who wants to see the code, here is the code of the script:
Use at will, and at your own risk.
//@version=3
// Created By Timothy Luce, inspired by Trace Mayer's 200 Day SMA cryptocurrency valuation method
study("Mayer Multiple @ Current Price", overlay=true)
currentPrice = close
currentDay = security(tickerid, "D", sma(close, 200))
mayerMultiple = currentPrice/currentDay
plot(mayerMultiple, color=#00ffaa, transp=100)
If you want to change the color, change this line: #00ffaa
AMD Setup - Full (Long + Short) ICT ModelICTSNIPERKILLS!
Accumulation, Manipulation, Distribution (AMD) Script!
1. Clarifies Structure: Accumulation, Manipulation, Distribution (AMD)
The script visualizes the AMD framework:
Accumulation → Price ranges inside Initial Balance (IB).
Manipulation → Liquidity sweep above IB High or below IB Low.
Distribution → Market Structure Shift (MSS) confirms a directional move.
This gives you a narrative structure for each session, helping you avoid random trades.
🧠 2. Filters Out Noise with MSS Confirmation
It waits for:
A liquidity sweep (manipulation),
Followed by a market structure shift (MSS),
And then confirms an entry only after a candle closes beyond structure.
This structure:
Reduces false signals,
Improves trade timing,
Helps you align with smart money delivery.
🕘 3. Focuses on the Right Time Window (Initial Balance)
You only engage after the 10:30 AM EST close, once the Initial Balance is formed.This aligns with ICT's focus on:
Killzones (like 9:30–11:00),
Avoiding early overtrading,
Letting the market tip its hand first (through sweeps + MSS).
This timing logic supports discipline and consistency.
🟢🔴 4. Marks Entries with Risk/Reward Guidance
It plots:
AMD SHORT / LONG entries after MSS + candle confirmation,
Basic TP and SL visual markers using a static risk-reward (2:1),
Optional Fair Value Gaps (FVGs) for refinement zones.
While static, these help plan trades visually and frame targets quickly, especially if you're scalping or trading micro futures like MNQ.
📈 5. Alerts You in Real Time
Instead of manually watching:
You'll get alerts when sweeps or MSS setups appear.
You can stay focused during the killzone or walk away and return when signals trigger.
This supports patience and alert-based discipline.
💡
You already:
Use 15M/1M execution,
Wait for ERL or HOD/LOD sweeps,
Look for MSS + CISD,
Trade in killzones only,
Target 50–62–70% Fibs with SMT/FVG confluence.
This script:✅ Automates sweep + MSS detection✅ Plots AMD-based entries visually✅ Simplifies your killzone execution✅ Helps avoid FOMO by filtering setups✅ Keeps your journal entries clean with structure
Ultimate Scalping Tool[BullByte]Overview
The Ultimate Scalping Tool is an open-source TradingView indicator built for scalpers and short-term traders released under the Mozilla Public License 2.0. It uses a custom Quantum Flux Candle (QFC) oscillator to combine multiple market forces into one visual signal. In plain terms, the script reads momentum, trend strength, volatility, and volume together and plots a special “candlestick” each bar (the QFC) that reflects the overall market bias. This unified view makes it easier to spot entries and exits: the tool labels signals as Strong Buy/Sell, Pullback (a brief retracement in a trend), Early Entry, or Exit Warning . It also provides color-coded alerts and a small dashboard of metrics. In practice, traders see green/red oscillator bars and symbols on the chart when conditions align, helping them scalp or trend-follow without reading multiple separate indicators.
Core Components
Quantum Flux Candle (QFC) Construction
The QFC is the heart of the indicator. Rather than using raw price, it creates a candlestick-like bar from the underlying oscillator values. Each QFC bar has an “open,” “high/low,” and “close” derived from calculated momentum and volatility inputs for that period . In effect, this turns the oscillator into intuitive candle patterns so traders can recognize momentum shifts visually. (For comparison, note that Heikin-Ashi candles “have a smoother look because take an average of the movement”. The QFC instead represents exact oscillator readings, so it reflects true momentum changes without hiding price action.) Colors of QFC bars change dynamically (e.g. green for bullish momentum, red for bearish) to highlight shifts. This is the first open-source QFC oscillator that dynamically weights four non-correlated indicators with moving thresholds, which makes it a unique indicator on its own.
Oscillator Normalization & Adaptive Weights
The script normalizes its oscillator to a fixed scale (for example, a 0–100 range much like the RSI) so that various inputs can be compared fairly. It then applies adaptive weighting: the relative influence of trend, momentum, volatility or volume signals is automatically adjusted based on current market conditions. For instance, in very volatile markets the script might weight volatility more heavily, or in a strong trend it might give extra weight to trend direction. Normalizing data and adjusting weights helps keep the QFC sensitive but stable (normalization ensures all inputs fit a common scale).
Trend/Momentum/Volume/Volatility Fusion
Unlike a typical single-factor oscillator, the QFC oscillator fuses four aspects at once. It may compute, for example, a trend indicator (such as an ADX or moving average slope), a momentum measure (like RSI or Rate-of-Change), a volume-based pressure (similar to MFI/OBV), and a volatility measure (like ATR) . These different values are combined into one composite oscillator. This “multi-dimensional” approach follows best practices of using non-correlated indicators (trend, momentum, volume, volatility) for confirmation. By encoding all these signals in one line, a high QFC reading means that trend, momentum, and volume are all aligned, whereas a neutral reading might mean mixed conditions. This gives traders a comprehensive picture of market strength.
Signal Classification
The script interprets the QFC oscillator to label trades. For example:
• Strong Buy/Sell : Triggered when the oscillator crosses a high-confidence threshold (e.g. breaks clearly above zero with strong slope), indicating a well-confirmed move. This is like seeing a big green/red QFC candle aligned with the trend.
• Pullbacks : Identified when the trend is up but momentum dips briefly. A Pullback Buy appears if the overall trend is bullish but the oscillator has a short retracement – a typical buying opportunity in an uptrend. (A pullback is “a brief decline or pause in a generally upward price trend”.)
• Early Buy/Sell : Marks an initial swing in the oscillator suggesting a possible new trend, before it is fully confirmed. It’s a hint of momentum building (an early-warning signal), not as strong as the confirmed “Strong” signal.
• Exit Warnings : Issued when momentum peaks or reverses. For instance, if the QFC bars reach a high and start turning red/green opposite, the indicator warns that the move may be ending. In other words, a Momentum Peak is the point of maximum strength after which weakness may follow.
These categories correspond to typical trading concepts: Pullback (temporary reversal in an uptrend), Early Buy (an initial bullish cross), Strong Buy (confirmed bullish momentum), and Momentum Peak (peak oscillator value suggesting exhaustion).
Filters (DI Reversal, Dynamic Thresholds, HTF EMA/ADX)
Extra filters help avoid bad trades. A DI Reversal filter uses the +DI/–DI lines (from the ADX system) to require that the trend direction confirms the signal . For example, it might ignore a buy signal if the +DI is still below –DI. Dynamic Thresholds adjust signal levels on-the-fly: rather than fixed “overbought” lines, they move with volatility so signals happen under appropriate market stress. An optional High-Timeframe EMA or ADX filter adds a check against a larger timeframe trend: for instance, only taking a trade if price is above the weekly EMA or if weekly ADX shows a strong trend. (Notably, the ADX is “a technical indicator used by traders to determine the strength of a price trend”, so requiring a high-timeframe ADX avoids trading against the bigger trend.)
Dashboard Metrics & Color Logic
The Dashboard in the Ultimate Scalping Tool (UST) serves as a centralized information hub, providing traders with real-time insights into market conditions, trend strength, momentum, volume pressure, and trade signals. It is highly customizable, allowing users to adjust its appearance and content based on their preferences.
1. Dashboard Layout & Customization
Short vs. Extended Mode : Users can toggle between a compact view (9 rows) and an extended view (13 rows) via the `Short Dashboard` input.
Text Size Options : The dashboard supports three text sizes— Tiny, Small, and Normal —adjustable via the `Dashboard Text Size` input.
Positioning : The dashboard is positioned in the top-right corner by default but can be moved if modified in the script.
2. Key Metrics Displayed
The dashboard presents critical trading metrics in a structured table format:
Trend (TF) : Indicates the current trend direction (Strong Bullish, Moderate Bullish, Sideways, Moderate Bearish, Strong Bearish) based on normalized trend strength (normTrend) .
Momentum (TF) : Displays momentum status (Strong Bullish/Bearish or Neutral) derived from the oscillator's position relative to dynamic thresholds.
Volume (CMF) : Shows buying/selling pressure levels (Very High Buying, High Selling, Neutral, etc.) based on the Chaikin Money Flow (CMF) indicator.
Basic & Advanced Signals:
Basic Signal : Provides simple trade signals (Strong Buy, Strong Sell, Pullback Buy, Pullback Sell, No Trade).
Advanced Signal : Offers nuanced signals (Early Buy/Sell, Momentum Peak, Weakening Momentum, etc.) with color-coded alerts.
RSI : Displays the Relative Strength Index (RSI) value, colored based on overbought (>70), oversold (<30), or neutral conditions.
HTF Filter : Indicates the higher timeframe trend status (Bullish, Bearish, Neutral) when using the Leading HTF Filter.
VWAP : Shows the V olume-Weighted Average Price and whether the current price is above (bullish) or below (bearish) it.
ADX : Displays the Average Directional Index (ADX) value, with color highlighting whether it is rising (green) or falling (red).
Market Mode : Shows the selected market type (Crypto, Stocks, Options, Forex, Custom).
Regime : Indicates volatility conditions (High, Low, Moderate) based on the **ATR ratio**.
3. Filters Status Panel
A secondary panel displays the status of active filters, helping traders quickly assess which conditions are influencing signals:
- DI Reversal Filter: On/Off (confirms reversals before generating signals).
- Dynamic Thresholds: On/Off (adjusts buy/sell thresholds based on volatility).
- Adaptive Weighting: On/Off (auto-adjusts oscillator weights for trend/momentum/volatility).
- Early Signal: On/Off (enables early momentum-based signals).
- Leading HTF Filter: On/Off (applies higher timeframe trend confirmation).
4. Visual Enhancements
Color-Coded Cells : Each metric is color-coded (green for bullish, red for bearish, gray for neutral) for quick interpretation.
Dynamic Background : The dashboard background adapts to market conditions (bullish/bearish/neutral) based on ADX and DI trends.
Customizable Reference Lines : Users can enable/disable fixed reference lines for the oscillator.
How It(QFC) Differs from Traditional Indicators
Quantum Flux Candle (QFC) Versus Heikin-Ashi
Heikin-Ashi candles smooth price by averaging (HA’s open/close use averages) so they show trend clearly but hide true price (the current HA bar’s close is not the real price). QFC candles are different: they are oscillator values, not price averages . A Heikin-Ashi chart “has a smoother look because it is essentially taking an average of the movement”, which can cause lag. The QFC instead shows the raw combined momentum each bar, allowing faster recognition of shifts. In short, HA is a smoothed price chart; QFC is a momentum-based chart.
Versus Standard Oscillators
Common oscillators like RSI or MACD use fixed formulas on price (or price+volume). For example, RSI “compares gains and losses and normalizes this value on a scale from 0 to 100”, reflecting pure price momentum. MFI is similar but adds volume. These indicators each show one dimension: momentum or volume. The Ultimate Scalping Tool’s QFC goes further by integrating trend strength and volatility too. In practice, this means a move that looks strong on RSI might be downplayed by low volume or weak trend in QFC. As one source notes, using multiple non-correlated indicators (trend, momentum, volume, volatility) provides a more complete market picture. The QFC’s multi-factor fusion is unique – it is effectively a multi-dimensional oscillator rather than a traditional single-input one.
Signal Style
Traditional oscillators often use crossovers (RSI crossing 50) or fixed zones (MACD above zero) for signals. The Ultimate Scalping Tool’s signals are custom-classified: it explicitly labels pullbacks, early entries, and strong moves. These terms go beyond a typical indicator’s generic “buy”/“sell.” In other words, it packages a strategy around the oscillator, which traders can backtest or observe without reading code.
Key Term Definitions
• Pullback : A short-term dip or consolidation in an uptrend. In this script, a Pullback Buy appears when price is generally rising but shows a brief retracement. (As defined by Investopedia, a pullback is “a brief decline or pause in a generally upward price trend”.)
• Early Buy/Sell : An initial or tentative entry signal. It means the oscillator first starts turning positive (or negative) before a full trend has developed. It’s an early indication that a trend might be starting.
• Strong Buy/Sell : A confident entry signal when multiple conditions align. This label is used when momentum is already strong and confirmed by trend/volume filters, offering a higher-probability trade.
• Momentum Peak : The point where bullish (or bearish) momentum reaches its maximum before weakening. When the oscillator value stops rising (or falling) and begins to reverse, the script flags it as a peak – signaling that the current move could be overextended.
What is the Flux MA?
The Flux MA (Moving Average) is an Exponential Moving Average (EMA) applied to a normalized oscillator, referred to as FM . Its purpose is to smooth out the fluctuations of the oscillator, providing a clearer picture of the underlying trend direction and strength. Think of it as a dynamic baseline that the oscillator moves above or below, helping you determine whether the market is trending bullish or bearish.
How it’s calculated (Flux MA):
1.The oscillator is normalized (scaled to a range, typically between 0 and 1, using a default scale factor of 100.0).
2.An EMA is applied to this normalized value (FM) over a user-defined period (default is 10 periods).
3.The result is rescaled back to the oscillator’s original range for plotting.
Why it matters : The Flux MA acts like a support or resistance level for the oscillator, making it easier to spot trend shifts.
Color of the Flux Candle
The Quantum Flux Candle visualizes the normalized oscillator (FM) as candlesticks, with colors that indicate specific market conditions based on the relationship between the FM and the Flux MA. Here’s what each color means:
• Green : The FM is above the Flux MA, signaling bullish momentum. This suggests the market is trending upward.
• Red : The FM is below the Flux MA, signaling bearish momentum. This suggests the market is trending downward.
• Yellow : Indicates strong buy conditions (e.g., a "Strong Buy" signal combined with a positive trend). This is a high-confidence signal to go long.
• Purple : Indicates strong sell conditions (e.g., a "Strong Sell" signal combined with a negative trend). This is a high-confidence signal to go short.
The candle mode shows the oscillator’s open, high, low, and close values for each period, similar to price candlesticks, but it’s the color that provides the quick visual cue for trading decisions.
How to Trade the Flux MA with Respect to the Candle
Trading with the Flux MA and Quantum Flux Candle involves using the MA as a trend indicator and the candle colors as entry and exit signals. Here’s a step-by-step guide:
1. Identify the Trend Direction
• Bullish Trend : The Flux Candle is green and positioned above the Flux MA. This indicates upward momentum.
• Bearish Trend : The Flux Candle is red and positioned below the Flux MA. This indicates downward momentum.
The Flux MA serves as the reference line—candles above it suggest buying pressure, while candles below it suggest selling pressure.
2. Interpret Candle Colors for Trade Signals
• Green Candle : General bullish momentum. Consider entering or holding a long position.
• Red Candle : General bearish momentum. Consider entering or holding a short position.
• Yellow Candle : A strong buy signal. This is an ideal time to enter a long trade.
• Purple Candle : A strong sell signal. This is an ideal time to enter a short trade.
3. Enter Trades Based on Crossovers and Colors
• Long Entry : Enter a buy position when the Flux Candle turns green and crosses above the Flux MA. If it turns yellow, this is an even stronger signal to go long.
• Short Entry : Enter a sell position when the Flux Candle turns red and crosses below the Flux MA. If it turns purple, this is an even stronger signal to go short.
4. Exit Trades
• Exit Long : Close your buy position when the Flux Candle turns red or crosses below the Flux MA, indicating the bullish trend may be reversing.
• Exit Short : Close your sell position when the Flux Candle turns green or crosses above the Flux MA, indicating the bearish trend may be reversing.
•You might also exit a long trade if the candle changes from yellow to green (weakening strong buy signal) or a short trade from purple to red (weakening strong sell signal).
5. Use Additional Confirmation
To avoid false signals, combine the Flux MA and candle signals with other indicators or dashboard metrics (e.g., trend strength, momentum, or volume pressure). For example:
•A yellow candle with a " Strong Bullish " trend and high buying volume is a robust long signal.
•A red candle with a " Moderate Bearish " trend and neutral momentum might need more confirmation before shorting.
Practical Example
Imagine you’re scalping a cryptocurrency:
• Long Trade : The Flux Candle turns yellow and is above the Flux MA, with the dashboard showing "Strong Buy" and high buying volume. You enter a long position. You exit when the candle turns red and dips below the Flux MA.
• Short Trade : The Flux Candle turns purple and crosses below the Flux MA, with a "Strong Sell" signal on the dashboard. You enter a short position. You exit when the candle turns green and crosses above the Flux MA.
Market Presets and Adaptation
This indicator is designed to work on any market with candlestick price data (stocks, crypto, forex, indices, etc.). To handle different behavior, it provides presets for major asset classes. Selecting a “Stocks,” “Crypto,” “Forex,” or “Options” preset automatically loads a set of parameter values optimized for that market . For example, a crypto preset might use a shorter lookback or higher sensitivity to account for crypto’s high volatility, while a stocks preset might use slightly longer smoothing since stocks often trend more slowly. In practice, this means the same core QFC logic applies across markets, but the thresholds and smoothing adjust so signals remain relevant for each asset type.
Usage Guidelines
• Recommended Timeframes : Optimized for 1 minute to 15 minute intraday charts. Can also be used on higher timeframes for short term swings.
• Market Types : Select “Crypto,” “Stocks,” “Forex,” or “Options” to auto tune periods, thresholds and weights. Use “Custom” to manually adjust all inputs.
• Interpreting Signals : Always confirm a signal by checking that trend, volume, and VWAP agree on the dashboard. A green “Strong Buy” arrow with green trend, green volume, and price > VWAP is highest probability.
• Adjusting Sensitivity : To reduce false signals in fast markets, enable DI Reversal Confirmation and Dynamic Thresholds. For more frequent entries in trending environments, enable Early Entry Trigger.
• Risk Management : This tool does not plot stop loss or take profit levels. Users should define their own risk parameters based on support/resistance or volatility bands.
Background Shading
To give you an at-a-glance sense of market regime without reading numbers, the indicator automatically tints the chart background in three modes—neutral, bullish and bearish—with two levels of intensity (light vs. dark):
Neutral (Gray)
When ADX is below 20 the market is considered “no trend” or too weak to trade. The background fills with a light gray (high transparency) so you know to sit on your hands.
Bullish (Green)
As soon as ADX rises above 20 and +DI exceeds –DI, the background turns a semi-transparent green, signaling an emerging uptrend. When ADX climbs above 30 (strong trend), the green becomes more opaque—reminding you that trend-following signals (Strong Buy, Pullback) carry extra weight.
Bearish (Red)
Similarly, if –DI exceeds +DI with ADX >20, you get a light red tint for a developing downtrend, and a darker, more solid red once ADX surpasses 30.
By dynamically varying both hue (green vs. red vs. gray) and opacity (light vs. dark), the background instantly communicates trend strength and direction—so you always know whether to favor breakout-style entries (in a strong trend) or stay flat during choppy, low-ADX conditions.
The setup shown in the above chart snapshot is BTCUSD 15 min chart : Binance for reference.
Disclaimer
No indicator guarantees profits. Backtest or paper trade this tool to understand its behavior in your market. Always use proper position sizing and stop loss orders.
Good luck!
- BullByte
Bitcoin Power Law OscillatorThis is the oscillator version of the script. The main body of the script can be found here.
Understanding the Bitcoin Power Law Model
Also called the Long-Term Bitcoin Power Law Model. The Bitcoin Power Law model tries to capture and predict Bitcoin's price growth over time. It assumes that Bitcoin's price follows an exponential growth pattern, where the price increases over time according to a mathematical relationship.
By fitting a power law to historical data, the model creates a trend line that represents this growth. It then generates additional parallel lines (support and resistance lines) to show potential price boundaries, helping to visualize where Bitcoin’s price could move within certain ranges.
In simple terms, the model helps us understand Bitcoin's general growth trajectory and provides a framework to visualize how its price could behave over the long term.
The Bitcoin Power Law has the following function:
Power Law = 10^(a + b * log10(d))
Consisting of the following parameters:
a: Power Law Intercept (default: -17.668).
b: Power Law Slope (default: 5.926).
d: Number of days since a reference point(calculated by counting bars from the reference point with an offset).
Explanation of the a and b parameters:
Roughly explained, the optimal values for the a and b parameters are determined through a process of linear regression on a log-log scale (after applying a logarithmic transformation to both the x and y axes). On this log-log scale, the power law relationship becomes linear, making it possible to apply linear regression. The best fit for the regression is then evaluated using metrics like the R-squared value, residual error analysis, and visual inspection. This process can be quite complex and is beyond the scope of this post.
Applying vertical shifts to generate the other lines:
Once the initial power-law is created, additional lines are generated by applying a vertical shift. This shift is achieved by adding a specific number of days (or years in case of this script) to the d-parameter. This creates new lines perfectly parallel to the initial power law with an added vertical shift, maintaining the same slope and intercept.
In the case of this script, shifts are made by adding +365 days, +2 * 365 days, +3 * 365 days, +4 * 365 days, and +5 * 365 days, effectively introducing one to five years of shifts. This results in a total of six Power Law lines, as outlined below (From lowest to highest):
Base Power Law Line (no shift)
1-year shifted line
2-year shifted line
3-year shifted line
4-year shifted line
5-year shifted line
The six power law lines:
Bitcoin Power Law Oscillator
This publication also includes the oscillator version of the Bitcoin Power Law. This version applies a logarithmic transformation to the price, Base Power Law Line, and 5-year shifted line using the formula: log10(x) .
The log-transformed price is then normalized using min-max normalization relative to the log-transformed Base Power Law Line and 5-year shifted line with the formula:
normalized price = log(close) - log(Base Power Law Line) / log(5-year shifted line) - log(Base Power Law Line)
Finally, the normalized price was multiplied by 5 to map its value between 0 and 5, aligning with the shifted lines.
Interpretation of the Bitcoin Power Law Model:
The shifted Power Law lines provide a framework for predicting Bitcoin's future price movements based on historical trends. These lines are created by applying a vertical shift to the initial Power Law line, with each shifted line representing a future time frame (e.g., 1 year, 2 years, 3 years, etc.).
By analyzing these shifted lines, users can make predictions about minimum price levels at specific future dates. For example, the 5-year shifted line will act as the main support level for Bitcoin’s price in 5 years, meaning that Bitcoin’s price should not fall below this line, ensuring that Bitcoin will be valued at least at this level by that time. Similarly, the 2-year shifted line will serve as the support line for Bitcoin's price in 2 years, establishing that the price should not drop below this line within that time frame.
On the other hand, the 5-year shifted line also functions as an absolute resistance , meaning Bitcoin's price will not exceed this line prior to the 5-year mark. This provides a prediction that Bitcoin cannot reach certain price levels before a specific date. For example, the price of Bitcoin is unlikely to reach $100,000 before 2021, and it will not exceed this price before the 5-year shifted line becomes relevant. After 2028, however, the price is predicted to never fall below $100,000, thanks to the support established by the shifted lines.
In essence, the shifted Power Law lines offer a way to predict both the minimum price levels that Bitcoin will hit by certain dates and the earliest dates by which certain price points will be reached. These lines help frame Bitcoin's potential future price range, offering insight into long-term price behavior and providing a guide for investors and analysts. Lets examine some examples:
Example 1:
In Example 1 it can be seen that point A on the 5-year shifted line acts as major resistance . Also it can be seen that 5 years later this price level now corresponds to the Base Power Law Line and acts as a major support at point B(Note: Vertical yearly grid lines have been added for this purpose👍).
Example 2:
In Example 2, the price level at point C on the 3-year shifted line becomes a major support three years later at point D, now aligning with the Base Power Law Line.
Finally, let's explore some future price predictions, as this script provides projections on the weekly timeframe :
Example 3:
In Example 3, the Bitcoin Power Law indicates that Bitcoin's price cannot surpass approximately $808K before 2030 as can be seen at point E, while also ensuring it will be at least $224K by then (point F).
